Xiaojie Xu and Yun Zhang
The Chinese housing market has witnessed rapid growth during the past decade and the significance of housing price forecasting has undoubtedly elevated, becoming an important…
Abstract
Purpose
The Chinese housing market has witnessed rapid growth during the past decade and the significance of housing price forecasting has undoubtedly elevated, becoming an important issue to investors and policymakers. This study aims to examine neural networks (NNs) for office property price index forecasting from 10 major Chinese cities for July 2005–April 2021.
Design/methodology/approach
The authors aim at building simple and accurate NNs to contribute to pure technical forecasts of the Chinese office property market. To facilitate the analysis, the authors explore different model settings over algorithms, delays, hidden neurons and data-spitting ratios.
Findings
The authors reach a simple NN with three delays and three hidden neurons, which leads to stable performance of about 1.45% average relative root mean square error across the 10 cities for the training, validation and testing phases.
Originality/value
The results could be used on a standalone basis or combined with fundamental forecasts to form perspectives of office property price trends and conduct policy analysis.
Details
Keywords
Xiaojie Xu and Yun Zhang
The Chinese housing market has gone through rapid growth during the past decade, and house price forecasting has evolved to be a significant issue that draws enormous attention…
Abstract
Purpose
The Chinese housing market has gone through rapid growth during the past decade, and house price forecasting has evolved to be a significant issue that draws enormous attention from investors, policy makers and researchers. This study investigates neural networks for composite property price index forecasting from ten major Chinese cities for the period of July 2005–April 2021.
Design/methodology/approach
The goal is to build simple and accurate neural network models that contribute to pure technical forecasts of composite property prices. To facilitate the analysis, the authors consider different model settings across algorithms, delays, hidden neurons and data spitting ratios.
Findings
The authors arrive at a pretty simple neural network with six delays and three hidden neurons, which generates rather stable performance of average relative root mean square errors across the ten cities below 1% for the training, validation and testing phases.
Originality/value
Results here could be utilized on a standalone basis or combined with fundamental forecasts to help form perspectives of composite property price trends and conduct policy analysis.
Details
Keywords
Bingzi Jin and Xiaojie Xu
The purpose of this study is to make property price forecasts for the Chinese housing market that has grown rapidly in the last 10 years, which is an important concern for both…
Abstract
Purpose
The purpose of this study is to make property price forecasts for the Chinese housing market that has grown rapidly in the last 10 years, which is an important concern for both government and investors.
Design/methodology/approach
This study examines Gaussian process regressions with different kernels and basis functions for monthly pre-owned housing price index estimates for ten major Chinese cities from March 2012 to May 2020. The authors do this by using Bayesian optimizations and cross-validation.
Findings
The ten price indices from June 2019 to May 2020 are accurately predicted out-of-sample by the established models, which have relative root mean square errors ranging from 0.0458% to 0.3035% and correlation coefficients ranging from 93.9160% to 99.9653%.
Originality/value
The results might be applied separately or in conjunction with other forecasts to develop hypotheses regarding the patterns in the pre-owned residential real estate price index and conduct further policy research.
Details
Keywords
Wasim ul Rehman, Muhammad Nadeem, Omur Saltik, Suleyman Degirmen and Faryal Jalil
The aims of the current study were twofold: first, to rank the world’s emerging economies based on a novel National Intellectual Capital Index (NICI) and its components; and…
Abstract
Purpose
The aims of the current study were twofold: first, to rank the world’s emerging economies based on a novel National Intellectual Capital Index (NICI) and its components; and second, to examine the impact of NICI and its components on economic growth, measured in terms of real GDP per capita.
Design/methodology/approach
We employed principal component analysis (PCA) to construct the novel NICI based on five key socio-economic indicators including (1) national human capital, (2) national structural capital, (3) national relational capital, (4) national informational capital and (5) national innovational capital. These indicators are publicly available for many countries. The index was generated by considering the most appropriate socio-economic indicators as precise measures of NIC from the Penn world table (version 10.0), the World Bank’s database of world governance and development indicators and the KOF globalization across the selected emerging economies.
Findings
The empirical findings revealed that national human capital is a significant driver of NIC, corresponding to higher economic growth. This is followed by national informational capital, national relational capital, national innovation capital and national structural capital. Furthermore, results indicate that the contribution of national structural capital is marginal compared to other critical strands of NIC.
Practical implications
NIC is generally considered the most valuable strategic resource for driving knowledge economies, especially in the Industry 5.0 revolution. Ranking emerging economies based on the NICI sheds light on the accumulated stock of NIC and how it contributes to and improves the economic growth of these economies. The stock of NIC is considered a critical success factor for measuring both current and future economic prosperity. Therefore, using the socio-economic indicators of KOFGI as accurate measures of NICI will assist policymakers in formulating and implementing relevant policies to enhance the accumulation of knowledge-based capital, which are critical components of NIC.
Originality/value
To the best of the authors' knowledge, this is the first study of its kind, both theoretically and empirically, to measure the National Intellectual Capital Index (NICI) using the most nascent socio-economic indicators of NIC. Moving forward, this study evaluates the impact of NICI and its components on economic growth, which is a relatively sparse area of research in the context of emerging knowledge economies.
Details
Keywords
Zhijiang Wu, Mengyao Liu, Guofeng Ma and Shan Jiang
The objective of this study is to accurately predict the cost of green buildings to provide quantifiable criteria for investment decisions from investors.
Abstract
Purpose
The objective of this study is to accurately predict the cost of green buildings to provide quantifiable criteria for investment decisions from investors.
Design/methodology/approach
This study proposes a hybrid prediction model ML-based for cost prediction of GBPs and obtains prediction parameters (PPs) associated with project characteristics through data mining (DM) techniques. The model integrates a principal component analysis (PCA) method to perform parameter dimensionality reduction (PDR) on a large number of raw variables to provide independent characteristic terms. Moreover, the support vector machine (SVM) algorithm is improved to optimize the prediction results and integrated with parameter dimensionality reduction and cost prediction.
Findings
The prediction results show that the mean absolute and relative errors of the hybrid prediction model proposed in this study are equal to 39.78 and 0.02, respectively, which are much lower than those of the traditional SVM model and MRA prediction model. Moreover, the hybrid prediction model with parameter dimensionality reduction also achieved better prediction accuracy (R2 = 0.319) and superior prediction accuracy for different cost terms.
Originality/value
Theoretically, the hybrid prediction model developed in this study can reliably predict the cost while accurately capturing the characteristics of GBPs, which is a bold attempt at a comprehensive approach. Practically, this study provides developers with a new ML-based prediction model that is capable of capturing the costs of projects with ambiguous definitions and complex characteristics.
Details
Keywords
Hanung Eka Atmaja, Budi Hartono, Clarisa Alfa Lionora, Alex Johanes Simamora and Alkadri Kusalendra Siharis
This research objective is to (1) examine the effect of organizational factors on quality performance, (2) examine the effect of quality performance on competitive advantage and…
Abstract
Purpose
This research objective is to (1) examine the effect of organizational factors on quality performance, (2) examine the effect of quality performance on competitive advantage and (3) examine the mediating role of quality performance between organizational factors and competitive advantage.
Design/methodology/approach
The research sample includes 140 employees in the Windusari village-owned enterprise, in Magelang, Indonesia. Data are collected using 5-Likert scale questionnaires which follow Ferdousi et al. (2019). The dependent variable is a competitive advantage. The Independent variable is organizational factors which are top management support, employee empowerment, employee involvement, reward and recognition, training and customer focus. The mediating variable is quality performance. Data analysis uses path analysis provided by structural equation modeling.
Findings
Based on path analysis, organizational factors have a positive effect on quality performance, quality performance has a positive effect on competitive advantage and quality performance mediates the effect of organizational factors on competitive advantage. The results confirm the concept of quality management where continuous improvement of products and services can meet customer expectations and bring the organization to a better position in the industry to face other competitors.
Originality/value
This research extends the previous studies of the relationship between organizational factors and organizational outcomes by considering the effectiveness of the organizational process. This research also contributes to giving new evidence about the relationship between organizational factors, quality management and competitive advantage in the village-owned enterprise in Magelang, Indonesia. This research also contributes to updating the literature on the theory of quality management.
Details
Keywords
Xudong Pei, Juan Song, Na Li and Borui Cao
It is found that previous studies only focus on how digital transformation contributes to individual firms’ green innovation performance while ignoring the important role that it…
Abstract
Purpose
It is found that previous studies only focus on how digital transformation contributes to individual firms’ green innovation performance while ignoring the important role that it plays in the spillover and diffusion of green innovations among peer firms. Therefore, this study aims to investigate the influence of focal firms’ digital transformation on the spillover of green innovation among peer firms in heavily polluting industries mediated by environmental, social and governance (ESG) performance and agency conflict. Further, this study is also expected to explore the effects of digital transformation’s green innovation spillover.
Design/methodology/approach
This study chooses 6,438 A-share heavily polluting listed firms in the stock exchanges based in Shanghai and Shenzhen in China during 2010–2020 as samples and tests the hypothesis with ordinary least squares (OLS) regression. Results prove to be robust to a battery of robustness analyses the authors performed to take care of endogeneity.
Findings
The results show that the focal firm’s digital transformation may trigger their peer firms’ green innovation spillover and prompt them to engage in green innovation activities actively. The mechanism test shows that peer firms’ ESG performance and agency conflict mediate the influence path between digital transformation and peer firms’ green innovation spillover. Finally, among heavily polluting firms with high industry competition and large scale, digital transformation’s green innovation spillover effects are more significant in conventional energy-based source control, end-of-pipe treatment and substantive green innovation.
Originality/value
This study is possible to provide a potential driving mechanism of green innovation spillovers. The findings lay a sound foundation for future research, providing important theoretical support and practical insights for digital transformation to empower heavily polluting industries to achieve green transformation and low-carbon development.
Details
Keywords
Javier Santiago Cortes Lopez, Guillermo Rodriguez Abitia, Juan Gomez Reynoso and Angel Eduardo Muñoz Zavala
This qualitative study aims to fill gaps in a widely studied and relevant organizational feature: the alignment between information technologies and business strategies.
Abstract
Purpose
This qualitative study aims to fill gaps in a widely studied and relevant organizational feature: the alignment between information technologies and business strategies.
Design/methodology/approach
This research is a qualitative study. The authors used focus groups, content analysis and semantic networks as research approaches to identify the main factors that prevent or foster such alignment.
Findings
Results reveal a leading role of innovation, organizational culture, access to information and financial factors that could promote or inhibit alignment and competitiveness.
Originality/value
This research was conducted only in small and medium organizations in Mexico, which represents about 52% of the Mexican Gross Domestic Product (for Mexico as one of the leading trade partners of the USA).
Details
Keywords
Juan Yang, Zhenkun Li and Xu Du
Although numerous signal modalities are available for emotion recognition, audio and visual modalities are the most common and predominant forms for human beings to express their…
Abstract
Purpose
Although numerous signal modalities are available for emotion recognition, audio and visual modalities are the most common and predominant forms for human beings to express their emotional states in daily communication. Therefore, how to achieve automatic and accurate audiovisual emotion recognition is significantly important for developing engaging and empathetic human–computer interaction environment. However, two major challenges exist in the field of audiovisual emotion recognition: (1) how to effectively capture representations of each single modality and eliminate redundant features and (2) how to efficiently integrate information from these two modalities to generate discriminative representations.
Design/methodology/approach
A novel key-frame extraction-based attention fusion network (KE-AFN) is proposed for audiovisual emotion recognition. KE-AFN attempts to integrate key-frame extraction with multimodal interaction and fusion to enhance audiovisual representations and reduce redundant computation, filling the research gaps of existing approaches. Specifically, the local maximum–based content analysis is designed to extract key-frames from videos for the purpose of eliminating data redundancy. Two modules, including “Multi-head Attention-based Intra-modality Interaction Module” and “Multi-head Attention-based Cross-modality Interaction Module”, are proposed to mine and capture intra- and cross-modality interactions for further reducing data redundancy and producing more powerful multimodal representations.
Findings
Extensive experiments on two benchmark datasets (i.e. RAVDESS and CMU-MOSEI) demonstrate the effectiveness and rationality of KE-AFN. Specifically, (1) KE-AFN is superior to state-of-the-art baselines for audiovisual emotion recognition. (2) Exploring the supplementary and complementary information of different modalities can provide more emotional clues for better emotion recognition. (3) The proposed key-frame extraction strategy can enhance the performance by more than 2.79 per cent on accuracy. (4) Both exploring intra- and cross-modality interactions and employing attention-based audiovisual fusion can lead to better prediction performance.
Originality/value
The proposed KE-AFN can support the development of engaging and empathetic human–computer interaction environment.
Details
Keywords
Pablo De la Vega Suárez, Juan Prieto-Rodriguez and Juan Gabriel Rodríguez
This chapter examines the relative influence of parents (vertical channel) and friends (horizontal channel) when deciding between employment in the public or private sector. Using…
Abstract
This chapter examines the relative influence of parents (vertical channel) and friends (horizontal channel) when deciding between employment in the public or private sector. Using a novel database and applying network analysis, the influence of peers is first measured. Next, the peer effect is compared with the impact of parental background on individual preferences. For the private sector, findings indicate that the influence (marginal effect) of friends is greater than that of parents. The opposite is observed for the public sector. However, in the case of public sector employment, the overall effect of the horizontal channel may surpass the vertical channel, as individuals typically have two parents but may have many friends. Additionally, it is found that both parents and friends exert a greater influence on women than on men.