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1 – 10 of 12Xiaoyue Chen, Bin Li, Tarlok Singh and Andrew C. Worthington
Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure…
Abstract
Purpose
Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure to Chinese economic policy uncertainty at the individual stock level in large Asian markets.
Design/methodology/approach
We estimate the monthly uncertainty exposure (beta) for each stock and then employ the portfolio-level sorting analysis to investigate the relationship between the China’s uncertainty exposure and the future returns of major Asian markets over multiple trading horizons. The raw returns of the high-minus-low portfolios are then adjusted using conventional asset pricing models to investigate whether the relationship is explained by common risk factors. Finally, we check the robustness of the portfolio-level results through firm-level Fama and MacBeth (1973) regressions.
Findings
Applying portfolio-level sorting analysis, we reveal that exposure to Chinese uncertainty is negatively related to the future returns of large stocks over multiple trading horizons in Japan, Hong Kong and India. We discover this is unexplained by common risk factors, including market, size, value, profitability, investment and momentum, and is robust to the specification of stock-level Fama and MacBeth (1973) regressions.
Research limitations/implications
Our analysis demonstrates the spillover effects of Chinese economic policy uncertainty across the region, provides evidence of China's emerging economic leadership, and offers trading strategies for managing uncertainty risks.
Originality/value
The findings of the study significantly improve our understanding of stock return predictability in Asian markets. Unlike previous studies, our results challenge the leading role of the US by providing a new intra-regional return predictor, namely, China’s uncertainty exposure. These results also evidence the continuing integration of the Asian economy and financial markets. However, contrary findings for some Asian markets point toward certain market-specific features. Compared with market-level research, our analysis provides deeper insights into the performance of individual stocks and is of particular importance to investors and other market participants.
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Yanmin Zhou, Zheng Yan, Ye Yang, Zhipeng Wang, Ping Lu, Philip F. Yuan and Bin He
Vision, audition, olfactory, tactile and taste are five important senses that human uses to interact with the real world. As facing more and more complex environments, a sensing…
Abstract
Purpose
Vision, audition, olfactory, tactile and taste are five important senses that human uses to interact with the real world. As facing more and more complex environments, a sensing system is essential for intelligent robots with various types of sensors. To mimic human-like abilities, sensors similar to human perception capabilities are indispensable. However, most research only concentrated on analyzing literature on single-modal sensors and their robotics application.
Design/methodology/approach
This study presents a systematic review of five bioinspired senses, especially considering a brief introduction of multimodal sensing applications and predicting current trends and future directions of this field, which may have continuous enlightenments.
Findings
This review shows that bioinspired sensors can enable robots to better understand the environment, and multiple sensor combinations can support the robot’s ability to behave intelligently.
Originality/value
The review starts with a brief survey of the biological sensing mechanisms of the five senses, which are followed by their bioinspired electronic counterparts. Their applications in the robots are then reviewed as another emphasis, covering the main application scopes of localization and navigation, objection identification, dexterous manipulation, compliant interaction and so on. Finally, the trends, difficulties and challenges of this research were discussed to help guide future research on intelligent robot sensors.
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Xiaojie Xu and Yun Zhang
Forecasts of commodity prices are vital issues to market participants and policy makers. Those of corn are of no exception, considering its strategic importance. In the present…
Abstract
Purpose
Forecasts of commodity prices are vital issues to market participants and policy makers. Those of corn are of no exception, considering its strategic importance. In the present study, the authors assess the forecast problem for the weekly wholesale price index of yellow corn in China during January 1, 2010–January 10, 2020 period.
Design/methodology/approach
The authors employ the nonlinear auto-regressive neural network as the forecast tool and evaluate forecast performance of different model settings over algorithms, delays, hidden neurons and data splitting ratios in arriving at the final model.
Findings
The final model is relatively simple and leads to accurate and stable results. Particularly, it generates relative root mean square errors of 1.05%, 1.08% and 1.03% for training, validation and testing, respectively.
Originality/value
Through the analysis, the study shows usefulness of the neural network technique for commodity price forecasts. The results might serve as technical forecasts on a standalone basis or be combined with other fundamental forecasts for perspectives of price trends and corresponding policy analysis.
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Puja Khatri, Sumedha Dutta, Preeti Kumari, Harshleen Kaur Duggal, Asha Thomas, Ilaria Cristillo and Silvio Nobis
Intrapreneurial ability (IA) of employees strengthens an organization's internal as well as external growth. Employees' IA makes innovation a continuous practice and augments…
Abstract
Purpose
Intrapreneurial ability (IA) of employees strengthens an organization's internal as well as external growth. Employees' IA makes innovation a continuous practice and augments organization's intellectual capital (IC). This intellectual capital-based intrapreneurial ability (ICIA) helps professionals to effectively handle changes in the business ecosystem by creating innovative solutions. The onus of assessing and inculcating ICIA is a joint responsibility of both academia and industry. In academia, teacher as a servant leader (TASL) contributes towards building ICIA of working professionals (WP) by enhancing their self-efficacy (SE). The paper aims to strengthen the industry–academia interface by analyzing the role of TASL and SE in influencing the ICIA of WP.
Design/methodology/approach
Using a stratified sampling technique, data from 387 WP is analyzed on SmartPLS-4 to study the interrelationship between the stated constructs and the role of SE as a mediator between TASL and ICIA. PLSpredict is used to study the predictive relevance of the proposed model.
Findings
High R2 = 0.654 shows that 65% of ICIA is determined by SE and TASL; reflecting model's robustness. SE partially mediates the relationship between TASL and ICIA. Results reported a higher ICIA of male WP than their female counterpart. The results indicate the low predictive accuracy of the model.
Practical implications
The proposed model of industry–academia partnership allows assessment of ICIA for enhancing corporate value in the present gig economy. The study also highlights the relevance of ICIA, particularly, for developing economies. In knowledge-driven economy, exploring the new ICIA will help organizations to draft a more robust performance measurement system.
Originality/value
This unique industry–academia partnership studies the role of TASL towards enhancing SE and ICIA of WP. The novelty of ICIA would enrich and provide a new perspective in IA literature. Additionally, the study also examines the role of gender in the ICIA of WP.
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Ines Abdelkafi, Youssra Ben Romdhane and Haifa Mefteh
The purpose of this paper is to investigate the impact of COVID-19 pandemic on the changing relationship between technology and economic activity in MENA countries.
Abstract
Purpose
The purpose of this paper is to investigate the impact of COVID-19 pandemic on the changing relationship between technology and economic activity in MENA countries.
Design/methodology/approach
The generalized method of moments (GMM) was applied to explore the presence of dynamic causality between technology, inflation, unemployment, foreign direct investment, trade opening, gross fixed capital formation and economic growth for 14 MENA countries before and after COVID-19.
Findings
Empirical evidence shows that the economic predictor variables change signs and impact negatively the economic growth as a result of the adverse consequences of the MENA health crisis. More interestingly, there is a unique, positive, meaningful relationship between ICT and economic growth.
Originality/value
The results show that economic resilience in MENA is significantly affected by digital infrastructure during the epidemic crisis. The authors conclude that macroeconomic adjustment and innovation improve the predictive performance of the health news model. Countries could take strong measures to support new strategies to strengthen their innovation competitiveness.
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This study aims to present the concept of aircraft turbofan engine health status prediction with artificial neural network (ANN) pattern recognition but augmented with automated…
Abstract
Purpose
This study aims to present the concept of aircraft turbofan engine health status prediction with artificial neural network (ANN) pattern recognition but augmented with automated features engineering (AFE).
Design/methodology/approach
The main concept of engine health status prediction was based on three case studies and a validation process. The first two were performed on the engine health status parameters, namely, performance margin and specific fuel consumption margin. The third one was generated and created for the engine performance and safety data, specifically created for the final test. The final validation of the neural network pattern recognition was the validation of the proposed neural network architecture in comparison to the machine learning classification algorithms. All studies were conducted for ANN, which was a two-layer feedforward network architecture with pattern recognition. All case studies and tests were performed for both simple pattern recognition network and network augmented with automated feature engineering (AFE).
Findings
The greatest achievement of this elaboration is the presentation of how on the basis of the real-life engine operational data, the entire process of engine status prediction might be conducted with the application of the neural network pattern recognition process augmented with AFE.
Practical implications
This research could be implemented into the engine maintenance strategy and planning. Engine health status prediction based on ANN augmented with AFE is an extremely strong tool in aircraft accident and incident prevention.
Originality/value
Although turbofan engine health status prediction with ANN is not a novel approach, what is absolutely worth emphasizing is the fact that contrary to other publications this research was based on genuine, real engine performance operational data as well as AFE methodology, which makes the entire research very reliable. This is also the reason the prediction results reflect the effect of the real engine wear and deterioration process.
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Xunjia Zheng, Bin Huang, Daiheng Ni and Qing Xu
The purpose of this paper is to accurately capture the risks which are caused by each road user in time.
Abstract
Purpose
The purpose of this paper is to accurately capture the risks which are caused by each road user in time.
Design/methodology/approach
The authors proposed a novel risk assessment approach based on the multi-sensor fusion algorithm in the real traffic environment. Firstly, they proposed a novel detection-level fusion approach for multi-object perception in dense traffic environment based on evidence theory. This approach integrated four states of track life into a generic fusion framework to improve the performance of multi-object perception. The information of object type, position and velocity was accurately obtained. Then, they conducted several experiments in real dense traffic environment on highways and urban roads, which enabled them to propose a novel road traffic risk modeling approach based on the dynamic analysis of vehicles in a variety of driving scenarios. By analyzing the generation process of traffic risks between vehicles and the road environment, the equivalent forces of vehicle–vehicle and vehicle–road were presented and theoretically calculated. The prediction steering angle and trajectory were considered in the determination of traffic risk influence area.
Findings
The results of multi-object perception in the experiments showed that the proposed fusion approach achieved low false and missing tracking, and the road traffic risk was described as a field of equivalent force. The results extend the understanding of the traffic risk, which supported that the traffic risk from the front and back of the vehicle can be perceived in advance.
Originality/value
This approach integrated four states of track life into a generic fusion framework to improve the performance of multi-object perception. The information of object type, position and velocity was used to reduce erroneous data association between tracks and detections. Then, the authors conducted several experiments in real dense traffic environment on highways and urban roads, which enabled them to propose a novel road traffic risk modeling approach based on the dynamic analysis of vehicles in a variety of driving scenarios. By analyzing the generation process of traffic risks between vehicles and the road environment, the equivalent forces of vehicle–vehicle and vehicle–road were presented and theoretically calculated.
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Yugang Ji and Wen-Hwa Ko
This study used the literature review and the modified Delphi method to evaluate the importance of the catering quality indices of university canteens in China. In order to…
Abstract
Purpose
This study used the literature review and the modified Delphi method to evaluate the importance of the catering quality indices of university canteens in China. In order to compile the catering quality indices of university canteens in China as reference for the subsequent improvement of Chinese canteens.
Design/methodology/approach
This study first analysed literature data to establish the preliminary quality indices and used the modified Delphi method for measurement. After three rounds of Delphi analysis by 35 experts, the results of the catering quality indices of university canteens in China are summarised.
Findings
The research results show that university canteen catering quality issues are divided into six dimensions, including catering safety management, employee hygiene management, catering service, food quality, environmental atmosphere and corporate social responsibility. Catering safety management is the most important index, followed by employee hygiene management.
Originality/value
The research results can be used as suggestions for follow-up improvements in the quality of university canteens in China and a basis of reference for amendments to relevant national or local laws and regulations. The food prices, food quality and whether food hygiene and safety standards are met by university canteens are all related to the health and vital interests of the teachers and students, as well as the stability of the university. Therefore, the government should increase supervision in these aspects to avoid decline in the quality of meals due to low profits and enforce strict requirements for food safety.
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Tamoor Khan, Jiangtao Qiu, Ameen Banjar, Riad Alharbey, Ahmed Omar Alzahrani and Rashid Mehmood
The purpose of this paper is to assess the impacts on production of five fruit crops from 1961 to 2018 of energy use, CO2 emissions, farming areas and the labor force in China.
Abstract
Purpose
The purpose of this paper is to assess the impacts on production of five fruit crops from 1961 to 2018 of energy use, CO2 emissions, farming areas and the labor force in China.
Design/methodology/approach
This analysis applied the autoregressive distributed lag-bound testing (ARDL) approach, Granger causality method and Johansen co-integration test to predict long-term co-integration and relation between variables. Four machine learning methods are used for prediction of the accuracy of climate effect on fruit production.
Findings
The Johansen test findings have shown that the fruit crop growth, energy use, CO2 emissions, harvested land and labor force have a long-term co-integration relation. The outcome of the long-term use of CO2 emission and rural population has a negative influence on fruit crops. The energy consumption, harvested area, total fruit yield and agriculture labor force have a positive influence on six fruit crops. The long-run relationships reveal that a 1% increase in rural population and CO2 will decrease fruit crop production by −0.59 and −1.97. The energy consumption, fruit harvested area, total fruit yield and agriculture labor force will increase fruit crop production by 0.17%, 1.52%, 1.80% and 4.33%, respectively. Furthermore, uni-directional causality is correlated with the growth of fruit crops and energy consumption. Also, the results indicate that the bi-directional causality impact varies from CO2 emissions to agricultural areas to fruit crops.
Originality/value
This study also fills the literature gap in implementing ARDL for agricultural fruits of China, used machine learning methods to examine the impact of climate change and to explore this important issue.
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Zheng Xu, Yihai Fang, Nan Zheng and Hai L. Vu
With the aid of naturalistic simulations, this paper aims to investigate human behavior during manual and autonomous driving modes in complex scenarios.
Abstract
Purpose
With the aid of naturalistic simulations, this paper aims to investigate human behavior during manual and autonomous driving modes in complex scenarios.
Design/methodology/approach
The simulation environment is established by integrating virtual reality interface with a micro-simulation model. In the simulation, the vehicle autonomy is developed by a framework that integrates artificial neural networks and genetic algorithms. Human-subject experiments are carried, and participants are asked to virtually sit in the developed autonomous vehicle (AV) that allows for both human driving and autopilot functions within a mixed traffic environment.
Findings
Not surprisingly, the inconsistency is identified between two driving modes, in which the AV’s driving maneuver causes the cognitive bias and makes participants feel unsafe. Even though only a shallow portion of the cases that the AV ended up with an accident during the testing stage, participants still frequently intervened during the AV operation. On a similar note, even though the statistical results reflect that the AV drives under perceived high-risk conditions, rarely an actual crash can happen. This suggests that the classic safety surrogate measurement, e.g. time-to-collision, may require adjustment for the mixed traffic flow.
Research limitations/implications
Understanding the behavior of AVs and the behavioral difference between AVs and human drivers are important, where the developed platform is only the first effort to identify the critical scenarios where the AVs might fail to react.
Practical implications
This paper attempts to fill the existing research gap in preparing close-to-reality tools for AV experience and further understanding human behavior during high-level autonomous driving.
Social implications
This work aims to systematically analyze the inconsistency in driving patterns between manual and autopilot modes in various driving scenarios (i.e. multiple scenes and various traffic conditions) to facilitate user acceptance of AV technology.
Originality/value
A close-to-reality tool for AV experience and AV-related behavioral study. A systematic analysis in relation to the inconsistency in driving patterns between manual and autonomous driving. A foundation for identifying the critical scenarios where the AVs might fail to react.
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