This study explores the response of consumer confidence in policy uncertainty in the Japanese context. The study also considers the dynamism of stock market behavior and financial…
Abstract
Purpose
This study explores the response of consumer confidence in policy uncertainty in the Japanese context. The study also considers the dynamism of stock market behavior and financial stress and its impact on consumer confidence, which has remained unaddressed in the literature. The role of these control variables has important implications for policy discussions, particularly when other countries can learn from Japanese experiences.
Design/methodology/approach
The nonlinear autoregressive distributed lag model postulated by Shin et al. (2014) was used for studying the asymmetric response of consumer confidence to policy uncertainty. This method has improved estimates compared to traditional linear cointegration methods.
Findings
The findings confirm the asymmetric impact of policy uncertainty on the consumer confidence index in Japan. The impact of the rise in policy uncertainty is greater than that of a fall in asymmetry on consumer confidence in Japan. Furthermore, the Wald test confirmed asymmetric behavior.
Originality/value
The contribution of this study is threefold. First, this study contributes to the extant literature by analyzing the asymmetric response of consumer confidence to policy uncertainty, controlling for both the financial stress and stock price indices. Second, to test the robustness of the exercise, the study utilized different frequencies of observations. Third, this study is the first to utilize the concept of Arbatli et al. (2017) to formulate a combined index of uncertainty based on economic policy uncertainty index, along with uncertainty indices such as fiscal, monetary, trade and exchange rate policies to study the overall impact of policy uncertainty.
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This paper is a response to the doctrine that capital is incompatible with public ownership. The fundamental characteristics of modern productivity determine the co-existence of…
Abstract
Purpose
This paper is a response to the doctrine that capital is incompatible with public ownership. The fundamental characteristics of modern productivity determine the co-existence of the market economy and capital relations.
Design/methodology/approach
Socialism can neither bypass the market economy nor “go beyond capital”; capital appears in two historical forms, including the private capital and the public capital. Public capital is the inevitable outcome of the inherent contradictions of public ownership in a socialist market economy.
Findings
It represents an economic relationship that compels individual labourers to provide surplus labour for the society. The combination of the strong accumulation function of public capital and the improvement of people's welfare is the main cause of China's development miracle.
Originality/value
The innovation impetus of the public capital and its “immunity” to the capitalist crisis highlight the tremendous power of socialism with Chinese characteristics in breaking free of the shackles of capitalism and continuously developing productive forces. Public capital demonstrates and will continue to demonstrate the historical legitimacy of socialism.
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In this chapter, rephrasing Spivak's question into ‘can subaltern children speak?’, I reorient the research on China's gigantic population of children and youths in rural migrant…
Abstract
In this chapter, rephrasing Spivak's question into ‘can subaltern children speak?’, I reorient the research on China's gigantic population of children and youths in rural migrant families towards a critical interpretative approach. Based on life history and longitudinal ethnographic interview gathered with three cases, I unpack the multiple meanings migrants' children attach to mobility in their childhood experiences. First, despite emotional difficulties, children see their parents' out-migration more as a ‘mobility imperative’ than their abandonment of parental responsibilities, which should be contextualized in China's long-term urban-biased social policies and the resultant development gaps in rural and urban societies. Second, the seemingly ‘unstable’ and ‘flexible’ mobility patterns observed in migrant families should be understood in relation to a long-term family social mobility strategy to promote children's educational achievement and future attainment. The combination of absent class politics in an illiberal society with an enduring ideology of education-based meritocracy in Confucianism makes this strategy a culturally legitimate channel of social struggle for recognition and respect for the subaltern. Last, children in migrant families are active contributors to their families' everyday organization amidst mobilities through sharing care and household responsibilities, and developing temporal and mobility strategies to keep alive intergenerational exchanges and family togetherness. The study uncovers coexisting resilience and vulnerabilities of migrants' children in their ‘doing class’ in contemporary China. It also contributes insights into our understanding of the diversity of childhoods in Asian societies at the intersection of familyhood, class dynamics and cultural politics.
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Zhou Shi, Jiachang Gu, Yongcong Zhou and Ying Zhang
This study aims to research the development trend, research status, research results and existing problems of the steel–concrete composite joint of railway long-span hybrid girder…
Abstract
Purpose
This study aims to research the development trend, research status, research results and existing problems of the steel–concrete composite joint of railway long-span hybrid girder cable-stayed bridge.
Design/methodology/approach
Based on the investigation and analysis of the development history, structure form, structural parameters, stress characteristics, shear connector stress state, force transmission mechanism, and fatigue performance, aiming at the steel–concrete composite joint of railway long-span hybrid girder cable-stayed bridge, the development trend, research status, research results and existing problems are expounded.
Findings
The shear-compression composite joint has become the main form in practice, featuring shortened length and simplified structure. The length of composite joints between 1.5 and 3.0 m has no significant effect on the stress and force transmission laws of the main girder. The reasonable thickness of the bearing plate is 40–70 mm. The calculation theory and simplified calculation formula of the overall bearing capacity, the nonuniformity and distribution laws of the shear connector, the force transferring ratio of steel and concrete components, the fatigue failure mechanism and structural parameters effects are the focus of the research study.
Originality/value
This study puts forward some suggestions and prospects for the structural design and theoretical research of the steel–concrete composite joint of railway long-span hybrid girder cable-stayed bridge.
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The publication oeuvre of a researcher carries great value when academic careers are assessed, and being recognised as a successful candidate is usually equated with being a…
Abstract
Purpose
The publication oeuvre of a researcher carries great value when academic careers are assessed, and being recognised as a successful candidate is usually equated with being a productive author. Yet, how publications are valued in the context of evaluating careers is so far an understudied topic. The paper aims to discuss these issues.
Design/methodology/approach
Through a content analysis of assessment reports in three disciplines – biomedicine, economics and history – this paper analyses how externalities are used to evaluate publication oeuvres. Externalities are defined as features such as reviews and bibliometric indicators, which can be assessed without evaluating the epistemological claims made in the actual text.
Findings
All three fields emphasise similar aspects when assessing: authorship, publication prestige, temporality of research, reputation within the field and boundary keeping. Yet, how these facets of quality are evaluated, and the means through which they are assessed differs between disciplines. Moreover, research fields orient themselves according to different temporal horizons, i.e. history looks to the past and economics to the future when research is evaluated.
Research limitations/implications
The complexities involved in the process of evaluating candidates are also reflected in the findings, and while the comparative approach taken effectively highlights domain specific differences it may also hide counter-narratives, and subtle intradisciplinary discussion on quality.
Originality/value
This study offers a novel perspective on how publications are valued when assessing academic careers. Especially striking is how research across different fields is evaluated through different time horizons. This finding is significant in the debate on more overarching and formal systems of research evaluation.
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Doris Bühler-Niederberger, Xiaorong Gu, Jessica Schwittek and Elena Kim
In this introduction to our volume on growing up in Asian societies, we define the claim of this collection, explain the approach, and take stock of what it has been possible to…
Abstract
In this introduction to our volume on growing up in Asian societies, we define the claim of this collection, explain the approach, and take stock of what it has been possible to achieve empirically and conceptually for the further global study of childhood and youth. Our aim was to understand and present the young generation in its intergenerational relations. The 16 studies, divided into four regional sections, show a broad spectrum of very different conditions in which this young generation lives, of expectations with which they are confronted, and of strategies for action that are open to them. And they show the overriding importance of the commitments and solidarities between different age groups across societies. We propose – in the sense of a theoretical conclusion – three concepts that should be central to the study of childhood and youth experiences: (inter)generational order, existential inequality, and voice. Whereby, the latter concept also has to take into account walls of silence. The three concepts have extended prior work of childhood and youth studies with new analytical power and empirical relevance, based on this most comprehensive collection to date on growing up in Asian societies.
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Jonas Nilsson, Jeanette Carlsson Hauff and Anders Carlander
In modern societies, consumer well-being is dependent on choices regarding complex services, such as investments, health care, insurance and lending. However, evaluating costs of…
Abstract
Purpose
In modern societies, consumer well-being is dependent on choices regarding complex services, such as investments, health care, insurance and lending. However, evaluating costs of such services is often difficult for consumers due to a combination of limited cognitive resources and complexity of the service. The purpose of this study is to empirically examine to what extent three specific consequences of complexity influence consumer tendencies to make mistakes when evaluating the costs (or price) of complex services.
Design/methodology/approach
Three studies were conducted (survey: n = 153, experiment: n = 332 and conjoint analysis: n = 225), all focusing on how consumers evaluate costs in the complex mutual fund setting.
Findings
The authors find that consumers struggle with estimating and using cost information in decision-making in the complex services setting. Consumers of complex services frequently underestimate the costs over the long-term, may see costs as a signal of service quality and are susceptible to influence from presentation formats when evaluating costs.
Research limitations/implications
The study investigates mutual funds, which is one example of a complex service. In order to get a full picture of how consumers deal with costs in complex setting, future research needs to expand this focus to other types of complex services.
Practical implications
The results have implications for both marketers of complex services and policymakers. For marketers, this paper highlights that competing with a low-cost strategy may be difficult in the complex services setting as consumers may lack the ability to actually evaluate what they pay over the long term. For policymakers, increased simplification of prices may be an attractive option. However, it is important that this simplification is done in a way that increases the possibility to compare prices.
Originality/value
As complexity influences several aspects of decision-making, an understanding of how consumers evaluate costs in complex settings is dependent on taking a multidimensional research approach. This paper makes a novel contribution to the literature on pricing by showing that consumers struggle with multiple aspects when evaluating costs in complex contexts. Understanding these effects is important to policy, as well as to research on the cognitive value of simplicity that is currently gaining traction in marketing research.
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In what follows, I first unpack the context of East Asia where fast economic growth, demographic transition, shifting public policies, and historical legacies as well as emerging…
Abstract
In what follows, I first unpack the context of East Asia where fast economic growth, demographic transition, shifting public policies, and historical legacies as well as emerging trends of family norms and practices jointly influence children's and youths' everyday lives and well-being. I show that albeit intraregional and intrasociety heterogeneities, childhood is part and parcel of the modernization project in this part of the world, which has attracted concerted efforts of intense investment from the state and the family, shaping a trajectory of childhood that is increasingly scholarized. I then sketch the landscape of childhood and youth studies in this region, calling for the intervention of childhood sociology as an approach to bring young people's own perspectives, voices, subjectivities, and actions to the fore. This is followed by an introduction to four compelling contributions that offer rich and nuanced insights into the pains and gains, pressures and perseverance of the growing up experiences of the young in rapidly changing East Asian societies.
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This paper describes the parent–child relationships of upper-middle-class Chinese parents and their adolescent children who were “parachuted” to the United States for private high…
Abstract
This paper describes the parent–child relationships of upper-middle-class Chinese parents and their adolescent children who were “parachuted” to the United States for private high schools. With parents remaining in China and children in the United States, thousands of miles away, such a transnational educational arrangement complicates the already volatile parent–child relationships during the adolescent years. Through ethnographic interviews of 41 students and 33 parents, I demonstrate different forms of child–parent relationships in a transnational education setting: those who found that the further physical and temporal distance has brought the parent–child relationship closer through frequent communications, children who experienced “accelerated growth” yet questioned the necessity, and delicate parent–child relationships due to increasing transnational cross-cultural or intergenerational differences. These types of parent–child relationships are not comprehensive of all the lived experiences of the “parachute generation,” yet they shed new light on transnational education and the unintended emotional dimensions of educational migration. In a transnational context for an economically well-off group, parental absence or separation of children and parents is no longer a clear-cut concept and has different layers of meanings, taking into account the frequency of communication, duration of spring and winter breaks and the existence of third-party agents such as for-profit intermediaries (or educational consultants) and host families. The diverse patterns of parent–child relations reveal the heterogeneity and complexities of “doing family” across geographic spaces and global educational hierarchies, as well as the roles of communication technologies, the tempo of mobilities and educational intermediaries.
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Zhan Su and Jianmin Tang
It has been suggested that to be successful in the current global economy with increased competition and ever changing markets, especially in the post-crisis context, firms need…
Abstract
Purpose
It has been suggested that to be successful in the current global economy with increased competition and ever changing markets, especially in the post-crisis context, firms need to focus more on innovation in exploring new ideas and designing new products to develop new markets than on cost-cutting strategies to maintain cost leadership in old markets. However, because of the lack of micro data, this conjecture has not been systematically evaluated. This paper aims to fill this important void by studying the economic performance associated with these two different business strategies using Canadian micro data.
Design/methodology/approach
The main data for our analysis are from the Survey of Innovation and Business Strategy (2009 and 2012) which is a sample-based survey of Canadian government. The authors used in this research regression models for the econometric analysis of the underlying factors for undertaking certain business strategies and how business strategies link to economic performance. They also used propensity score matching to ensure the group of firms with innovation strategy being comparable to that with cost-cutting.
Findings
The research shows that firms focusing on product innovation are indeed more productive than firms focusing on cost-cutting, although there is no evidence that these two different strategies make a difference in profitability. The first indication from the research has been that certain characteristics of Canadian firms are very useful predictors for firms to undertake product innovation. They are, among other things, the age of the firms, the single-establishment structure of the business and being multinationals.
Research limitations/implications
This empirical research opens up many interesting avenues for future research. Some other variables could be integrated into the models to increase the rate of explained variance. Moreover, because this research is based only on the case of Canadian firms and for a relatively short period of four years after the 2008 crisis, an extension to other context and to a longer period of time should be interesting.
Practical implications
The research has confirmed that Canadian firms adopting long-term business strategies based on product innovation are more productive.
Social implications
The results truly concur with the vision of the Government of Canada, like some other developed countries, on the importance of innovation and its policies in encouraging business innovation in driving the growth of the Canadian economy and improving the standard of living of country.
Originality/value
Mainly because of the lack of micro data, the existing researches have not provided solid evidence on why firms are choosing different business strategies when they are operating in the same business conditions and how the financial crisis has affected the undertaking of business strategies. They have not established a clear linkage between economic performance and different business strategies, although there has been some anecdotal evidence about their association. This study aims to bridge the knowledge gaps with theoretical and practical contributions.