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International Journal of Electronic Finance (3 papers in press)
Estimating Bitcoin and traded asset classes volatility using GARCH Model by Timcy Sachdeva Abstract: Bitcoin is the worlds first cryptocurrency which has largest market capitalization. The study aims to analyze the risk measures for the bitcoin and comparing with tradeable asset classes that include the Standard and Poors BSE 500, USD, Euro, GBP and the Gold future prices. The study uses the GARCH models to identify the components of world economies that Bitcoin is sentisitive too as against variables that impact the global financial prudence. The empirical results of the study reveal that against dollar and euro exchange rates bitcoin returns are more sensitive. Bitcoin can be used together with gold to diversify or eliminate explicit market risks. The study presents reasonable justification over the development and relationship between bitcoin and different traded assets that pose new challenges before the global investors. The implication of this paper for the strategic policy makers shows the sensitivity among tradeable assets. Keywords: Bitcoin; traded asset classes; volatility; hedging; GARCH Model; FinTech.
Internet of Things: Financial Perspective and its associated security concerns. by Faheem Masoodi, Bilal Ahmad Pandow Abstract: The Internet of Things (IoT) has expanded at a very rapid rate over the last decade and revolutionized much of Internet and devices technologies. Though much of transformation was driven by IoT, however, its implementation, security issues and other associated aspects still remain a matter of concern. The literature on the financial aspect of IoT is very scarce and this paper aims to fill this void and provide financial perspectives on IoT. The analysis of IoT banking and financial services industry is projected to expand from $249.5 million to USD 2.03 billion by 2023: eight-time rise or a Compound annual growth rate (CAGR) of around 52%. Furthermore, it was noted that the financial results of selected IoT firms had seen decent development over the past many years. In addition, there are several mergers and acquisitions in the IoT market, culminating in a USD 75.44 billion increase in the sector. One of the major challenges in IoT implementation in the financial industry is security and privacy. The inherent vulnerabilities in IoT devices can be exploited by the attacker, which makes it increasingly onerous for financial services firms to safeguard the system against phishing, data breaches, ransomware and other attacks. Keywords: Internet; Security; IoT; Finance.
A study of confirmation bias among online investors in virtual communities by Bhoomika Trehan, Amit Kumar Sinha Abstract: The purpose of this study is to investigate the existence of confirmation bias among online investors participating in virtual communities. It further examines the factors such as perceived knowledge, investment experience, and gender that influence the confirmation bias. In the virtual communities, two types of participants were identified Knowledge Seekers and Knowledge Contributors. An online survey was conducted using structured questionnaire and the data was analysed with the application of relevant statistical tools.
Investment-related virtual communities were found to be a great source of stock market-related news and investment ideas. The findings indicate that online investors exhibit confirmation bias as they join virtual communities to seek information that confirms their previous beliefs and opinions. The data was collected from online chat rooms where online investors interact and discuss investment trades. As many investors invest online without taking financial advice and guidance, their investment choices depend on their instinct and knowledge. Therefore, this study is of immense importance for both investors and investment advisors.
Keywords: behavioural biases; confirmation bias; decision-making process; gender; investment experience; online investors; overconfidence; perceived knowledge; psychology; virtual communities.