Bubble identification in the emerging economy fuel price series: : Evidence from a generalized sup augmented Dickey–Fuller test

n the recent past, the world in general and Pakistan in particular faced a drastic fuel price change, affecting the economic productivity of the country. This has drawn the attention of empirical researchers to analyze the abrupt change in fuel prices. This study takes a lead and investigates for the first time, in the literature related to Pakistan, the presence of multiple fuel price bubbles, with the purpose of knowing if the price driver is due to demand or it is exuberant consumer behavior that prevails and contributes to a sudden boom in fuel price series. The empirical analysis is performed through a recently proposed state-of-the-art generalized sup ADF (GSADF) approach on six commonly used fuel price series, namely, LDO (light diesel oil), HSD (high-speed diesel), petrol, natural gas, kerosene, and MS (motor spirit). The bubble analysis for each of the six fuel price series is based on monthly data from July 2005 to August 2020. The findings provide evidence of the existence of multiple bubbles in all series considered. Specifically, four bubbles are detected in each of the kerosene and natural gas price series, whereas three bubbles are noted in each of the HSD, LDO, petrol and MS price series. The maximum duration of occurrence of bubbles is of 12 months for kerosene. The date-stamping of the bubbles shows that the financial crisis of 2008 contributed to the emergence of bubbles that pushed oil prices upward and caused a depreciation in the national currency.Peer reviewe

The Role of CSR and Ethical Leadership to Shape Employees’ Pro-Environmental Behavior in the Era of Industry 4.0. A Case of the Banking Sector

The phenomenon of corporate social responsibility (CSR) is an ever-evolving concept due to its multidimensionality. However, a plethora of studies have investigated CSR to achieve different organizational-related objectives, and its potential link to shape employee’s extra-role behavior, especially employee pro-environmental behavior (EB) in the era of Industry 4.0, is underexplored in the literature. To bridge this gap, the current study aims to explain the relationship between CSR and EB with the mediating role of ethical leadership (EL) in the banking sector of Pakistan. The data of the current survey were collected (n = 459) from different banking employees within the city of Lahore through a self-administered questionnaire (paper–pencil technique). The hypotheses were validated through the structural equation modeling (SEM) technique in AMOS. The empirical results of the current study confirmed that CSR positively relates to EB, and EL partially mediates this relationship. These findings are helpful for professionals to realize the significance of CSR and EL to shape EB in order to mitigate the environmental footprint of an organization