Template-Type: ReDIF-Article 1.0 Author-Name: Muhammadriyaj Faniband Author-X-Name-First: Muhammadriyaj Author-X-Name-Last: Faniband Author-Name: Salim Shamsher Author-X-Name-First: Salim Author-X-Name-Last: Shamsher Title: Economic policy uncertainty and stock market performance: evidence from the Middle East Abstract: This paper examines the impact of Economic Policy Uncertainty (EPU) in the top 15 economies on the stock market of 9 Middle East countries using a monthly data set from January 2004 to May 2021. The results based on the quantile regression approach show that EPU in China and Spain has a substantial impact on Turkey, EPU in India on UAE, and EPU in Spain and UK on Bahrain and Cyprus across all the quantiles. The other set of results indicate a mixed impact on Middle East countries. The impact of EPU is heterogeneous across stock markets in the Middle East. The results derived from our study would be of substantial utility for multiple stakeholders namely investors, portfolio managers and policy makers for the adoption of efficient decisions and to make better asset allocation. Journal: Int. J. of Diplomacy and Economy Pages: 5-38 Issue: 1 Volume: 10 Year: 2024 Keywords: economic policy uncertainty; stock market; Middle East; quantile regression; emerging markets. File-URL: http://www.inderscience.com/link.php?id=137092 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:1:p:5-38 Template-Type: ReDIF-Article 1.0 Author-Name: Mohit Saini Author-X-Name-First: Mohit Author-X-Name-Last: Saini Author-Name: Shallu Batra Author-X-Name-First: Shallu Author-X-Name-Last: Batra Author-Name: Mahender Yadav Author-X-Name-First: Mahender Author-X-Name-Last: Yadav Author-Name: Vaibhav Aggarwal Author-X-Name-First: Vaibhav Author-X-Name-Last: Aggarwal Author-Name: Narender Verma Author-X-Name-First: Narender Author-X-Name-Last: Verma Title: Sponsoring an event and stock return: Vivo IPL to Tata IPL Abstract: Title sponsorship of the Indian Premier League 2022-2023 has been given to Tata Group (an Indian Corporate Giant). The main aim of this study is to investigate the impact of the event on each of the listed entities within the Tata Group and identify which among them is the most reactive to this event. The closing prices of 17 stocks and the market index were collected from the Prowess database. The event study methodology was used to study the objective. The study employed the 21 days event window and 224 days estimation window to estimate the returns. The results indicate that Tata Communication Ltd. and Indian Hotels Co. Ltd. have a significant positive abnormal return on the event day. Overall, the average abnormal return of all stocks was found to be significantly positive on the next day of the event. The findings indicate that the market was optimistic regarding the communication and hospitality segment of the Tata Group during the IPL tournament. Journal: Int. J. of Diplomacy and Economy Pages: 39-56 Issue: 1 Volume: 10 Year: 2024 Keywords: Indian premier league; stock return; event study; Tata Group. File-URL: http://www.inderscience.com/link.php?id=137093 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:1:p:39-56 Template-Type: ReDIF-Article 1.0 Author-Name: Vaibhav Aggarwal Author-X-Name-First: Vaibhav Author-X-Name-Last: Aggarwal Author-Name: Mohit Saini Author-X-Name-First: Mohit Author-X-Name-Last: Saini Author-Name: Pankaj Kumar Author-X-Name-First: Pankaj Author-X-Name-Last: Kumar Author-Name: Mahender Yadav Author-X-Name-First: Mahender Author-X-Name-Last: Yadav Author-Name: Adesh Doifode Author-X-Name-First: Adesh Author-X-Name-Last: Doifode Title: Impact of cryptocurrencies on inflation: evidence from BICS countries Abstract: Academic research on cryptos has exploded over the past decade; however, the impact of cryptocurrency on inflation in emerging markets is an underexplored research area. This study addresses this by investigating the impact of two major cryptocurrencies - Bitcoin and Ethereum, on inflation in four major emerging countries - Brazil, India, China and South Africa (BICS). Monthly data on cryptocurrencies and inflation (WPI and CPI) is taken from Oct 2017 to Nov 2022. The Vector Auto-Regression (VAR) findings indicate that in BICS countries, there is no significant impact of cryptocurrencies - Bitcoin and Ethereum on the inflation of BICS. The results of this study can be useful for policymakers regarding inflation management and the risks and challenges associated with cryptocurrency adoption. Journal: Int. J. of Diplomacy and Economy Pages: 78-91 Issue: 1 Volume: 10 Year: 2024 Keywords: crypto; Bitcoin; emerging market; VAR; VECM. File-URL: http://www.inderscience.com/link.php?id=137099 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:1:p:78-91 Template-Type: ReDIF-Article 1.0 Author-Name: Barkha Dhingra Author-X-Name-First: Barkha Author-X-Name-Last: Dhingra Author-Name: Mohit Saini Author-X-Name-First: Mohit Author-X-Name-Last: Saini Author-Name: Mahender Yadav Author-X-Name-First: Mahender Author-X-Name-Last: Yadav Author-Name: Megha Saini Author-X-Name-First: Megha Author-X-Name-Last: Saini Title: India's largest fintech IPO: a case study of Paytm Abstract: India's momentous Initial Public Offering (IPO) year has been 2021. This case talks about the star of the show, Paytm IPO. One of the largest fintech IPOs in the Asia-Pacific region failed horribly on the stock market. Even though the company successfully raised the desired amount, investor enthusiasm for Paytm's offer was relatively low compared to other tech firms. The present study discusses the reasons for the debacle of the Paytm IPO, including excessively inflated pricing, Fear of Missing Out (FOMO), etc. The case discusses in depth the emergence of fintech and Paytm. The learnings from the case study follow this. It also highlights the modifications that the Securities and Exchange Board of India (SEBI) brought to tighten the IPO process. The regulator wants new-age IT businesses to tell precisely how they valued their stocks for IPOs, compare it to pre-IPO share sales and upload all pre-IPO investor briefings to enable investors to make educated decisions. Journal: Int. J. of Diplomacy and Economy Pages: 57-77 Issue: 1 Volume: 10 Year: 2024 Keywords: fintech; Paytm; IPO; book building; case study. File-URL: http://www.inderscience.com/link.php?id=137100 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:1:p:57-77 Template-Type: ReDIF-Article 1.0 Author-Name: Ernest Petrič Author-X-Name-First: Ernest Author-X-Name-Last: Petrič Author-Name: Katarina Vatovec Author-X-Name-First: Katarina Author-X-Name-Last: Vatovec Title: The war in Ukraine: some international legal and political aspects Abstract: This paper addresses the ongoing war in Ukraine. It argues that Russia's use of force against Ukraine, both in 2014 with the annexation of the Crimean Peninsula, and today as we witness the aggression launched by the Russian Federation in February 2022, signifies a breach of international law, and provides no sound or justifiable reasons for its legitimacy. Even though the United Nations Security Council is paralysed and thus cannot adopt a 'hard' resolution exercising its primary responsibility for international peace and security, the vast support of the international community for Ukraine's efforts and a broad condemnation of Russian aggression are evident in the General Assembly's 'soft' resolutions. The paper concludes with a discussion of some of the political considerations triggered by Russia's aggression against Ukraine, and some thoughts on the need for a lasting, just, and indeed a sustainable peace. Journal: Int. J. of Diplomacy and Economy Pages: 92-109 Issue: 1 Volume: 10 Year: 2024 Keywords: use of force; aggression; international law; international politics; Ukraine; Russian Federation. File-URL: http://www.inderscience.com/link.php?id=137127 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:1:p:92-109 Template-Type: ReDIF-Article 1.0 Author-Name: Mohit Saini Author-X-Name-First: Mohit Author-X-Name-Last: Saini Author-Name: Mahender Author-X-Name-First: Author-X-Name-Last: Mahender Title: COVID-19 and financial markets: a comparative analysis of sustainable and conventional indices Abstract: The COVID-19 pandemic has shocked the whole financial market after the 2008 financial crisis. In the last decade, markets have given various investment avenues to safeguard the invested funds during the time of crisis, sustainable investments are one among them. Hence, this study aims to examine how COVID-19 has impacted sustainable indices as compared to conventional indices. This study adopted the method of event study to analyse the pandemic impacts. The findings of the study indicate that the COVID-19 has severe impacts on conventional indices. On the other side, the cumulative average abnormal returns increase post the pandemic lockdown announcement. Returns in the post-event window were highly volatile in the case of conventional indices. Finally, it observed that the sustainable indices were faster to absorb the impact of the COVID-19. The study would be helpful for policymakers, investors and portfolio managers. Journal: Int. J. of Diplomacy and Economy Pages: 138-152 Issue: 2 Volume: 10 Year: 2024 Keywords: sustainable investment; COVID-19; India; Pandemic; event study; socially responsible investment; ESG. File-URL: http://www.inderscience.com/link.php?id=142534 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:2:p:138-152 Template-Type: ReDIF-Article 1.0 Author-Name: Bima Jon Nanda Author-X-Name-First: Bima Jon Author-X-Name-Last: Nanda Author-Name: Inda Mustika Permata Author-X-Name-First: Inda Mustika Author-X-Name-Last: Permata Title: The harmless mighty dragon: China public diplomacy for Belt and Road Initiative in Indonesia Abstract: China's public diplomacy in Indonesia will benefit various Belt and Road Initiative (BRI) projects since the main obstacle to BRI projects in Indonesia is the negative image of China as communist, aggressive and anti-Islam by the Indonesian public. This article explores various Chinese government Public Diplomacy in Indonesia. They explained using Cull Public Diplomacy Taxonomy, which is listening, advocacy, cultural and exchange diplomacy and broadcasting. This article argues that the Chinese government uses ASEAN-China Think Tanks (NACT) as a listening approach to their public diplomacy. At the same time, it could also be utilised as an advocacy approach to their public diplomacy. China uses its Confucius Institute for cultural diplomacy. China approached influential Muslim organisations' representatives in Indonesia and invited them to visit China to eliminate the anti-Islamic image from China as their exchange diplomacy. China also cooperates with Indonesian news media to combat the anti-Islam image of China. Journal: Int. J. of Diplomacy and Economy Pages: 185-200 Issue: 2 Volume: 10 Year: 2024 Keywords: China; Indonesia; Belt and Road Initiative; public diplomacy; negative image. File-URL: http://www.inderscience.com/link.php?id=142536 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:2:p:185-200 Template-Type: ReDIF-Article 1.0 Author-Name: Ibrahim Suleiman Roba Author-X-Name-First: Ibrahim Suleiman Author-X-Name-Last: Roba Author-Name: Patrick Maluki Author-X-Name-First: Patrick Author-X-Name-Last: Maluki Author-Name: Martin Odhiambo Ouma Author-X-Name-First: Martin Odhiambo Author-X-Name-Last: Ouma Title: The role of regional organisations in economic diplomacy and recognition of new states: an examination of the role played by regional organisations in recognition of new states and their subsequent economic relations with the international community Abstract: It is a complex and intensely politicised procedure to recognise new states and admit them to the global community. By providing a forum for discussion and negotiation, regional groups, according to research, aid in this process. Regional organisations facilitate economic ties between freshly established states and the international community in this way as well. This study aims to examine how regional groups contribute to economic diplomacy and the acceptance of new states. With an emphasis on economic relations, the study will look into the various tools and procedures regional organisations employ to aid in the acceptance of new states and their following integration into the global community. It will start by providing an overview of the various types of regional organisations and examine the approaches they use to recognise new states, including establishing diplomatic relations, membership in the organisations and support for statehood aspirations. Journal: Int. J. of Diplomacy and Economy Pages: 169-184 Issue: 2 Volume: 10 Year: 2024 Keywords: recognition of new states; economic diplomacy; the international community; global governance. File-URL: http://www.inderscience.com/link.php?id=142537 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:2:p:169-184 Template-Type: ReDIF-Article 1.0 Author-Name: Aamir Aijaz Syed Author-X-Name-First: Aamir Aijaz Author-X-Name-Last: Syed Title: Does the problem of non-performing loans differ in a religious and a secular economy? An investigation of the nexus between financial sector development, institutional variables and non-performing loans Abstract: The influence of financial inclusion and financial sector advancement on non-performing loans has been extensively explored. However, the literature has ignored the role of religiosity and secularism in understanding the above relationship. The current study assists to fill this void by exploring the above relationship using regression, interaction analysis, correlation and generalised method of moment propounded by Hansen, 1982 covering the period from 2000 to 2020. The findings reveal that religious perception negatively influences financial inclusion and financial sector development. In addition, through interaction analysis, it creates a positive impact on the nonperforming loans of the religious country. Contrary, secularism assists in reducing nonperforming loans by creating a positive influence on the financial sector development and financial inclusion. Moreover, the study substantiates a negative relationship between government stability and religious perception which also contribute to the nonperforming loan of a religious country, contrary to a positive relationship between government stability and secularism. The present study offers several useful recommendations. Journal: Int. J. of Diplomacy and Economy Pages: 114-137 Issue: 2 Volume: 10 Year: 2024 Keywords: non-performing loans; religiosity; secularism; financial sector development; financial inclusion. File-URL: http://www.inderscience.com/link.php?id=142538 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:2:p:114-137 Template-Type: ReDIF-Article 1.0 Author-Name: Liliana Brožič Author-X-Name-First: Liliana Author-X-Name-Last: Brožič Title: EU actorness in a mirror: the war in Ukraine Abstract: The EU's objective, as clearly set out in the Strategic Compass for Security and Defence, is to be a global actor in a global world. How the EU actually pursues this objective is the focus of this paper. Being a global actor and having strategic autonomy is of paramount importance for the EU at a time when Ukraine is fighting for its territory occupied by Russia. A comparative analysis of EU activism was carried out between two time periods: from 2014, when Russia annexed Crimea, up to the military attack on Ukraine and after the military attack on Ukraine up to June 2023. The methodological approach used was that refined by Bretherton and Vogler; they tested the actorness of the EU using three criteria: presence, opportunity and capability. These were further tested and scored in the same way as Batzella - with a high, medium and low level of actorness scores for each criterion. The actorness of the EU in the field of the CSDP was assessed using these research methods. The central theme was whether the EU should seek a peaceful solution for Ukraine and how this would affect its actorness. Journal: Int. J. of Diplomacy and Economy Pages: 153-168 Issue: 2 Volume: 10 Year: 2024 Keywords: European Union; global actorness; strategic autonomy; common security and defence policy; strategic compass for security and defence; military capability; war in Ukraine; Russia. File-URL: http://www.inderscience.com/link.php?id=142558 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijdipe:v:10:y:2024:i:2:p:153-168