Search results

Given the scarcity of data during the early stages of the COVID-19 pandemic in China, the decision-making for non-pharmaceutical policies was mostly based on insufficient evidence. The purpose of this study is to assess the effectiveness of these policies, such as lockdown and government subsidies, on rural households and identify policy implications for China and other countries in dealing with pandemics.

The authors survey 2,408 rural households by telephone from 101 counties across 17 provinces in China during the first stage of the pandemic (March 2020). The authors use the ordered probit model and linear regression model to study the overall impact of policies and then use the quantile regression model and sub-sample regression method to study the heterogeneity of the effects of government policies.

The authors find that logistics disruption due to lockdown negatively affected rural households. Obstructed logistics is associated with a more significant loss for high-income households, while its impact on the loss expectation of low-income households is more severe. Breeding and other industries such as transport and sales suffer more from logistics than cultivation. The impact of logistics on intensive agricultural entities is more serious than that on professional farms. The government subsidy is more effective at reducing loss for low-income households. Lockdown and government subsidies have shown heterogeneous impacts on rural households.

The overall economic losses experienced by rural households in the early stages of the pandemic are controllable. The government policies of logistics and subsidies should target specific groups.

The authors evaluate the economic impacts of lockdown and government subsidies on rural households and show their heterogeneity among different groups. The authors further demonstrate the policy effectiveness in supporting rural households during the early stages of the pandemic and provide future policy guidance on major public health event.

The aim of this paper is threefold: first, to review the technological state of the art on tire sensor systems; second, to summarize basic methodologies and explore the potential of tire sensing for intelligent vehicle developments and third, to address challenges in the development of tire sensing systems and inspire future research in this field.

Nowadays, automotive industry is moving toward an intelligent and autonomous driving era with the assistance of sensing technology development, whereas tire-road conditions sensing and utilization are of great interest from the point of view of vehicle dynamics control, vehicle safety and vehicle performance evaluation.

Tire sensing is an emerging technology whereby sensor systems are installed on the tire to provide fundamental insights into tire-road interactions for ground vehicles and wheel robots. In the past two decades, tire sensing systems based on various sensor types have been proposed to offer the possibility to investigate tire-road interactions.

Instrumenting the tire with sensors, especially accelerometers and optical sensors, can sense the tire-road interactions and enhance the vehicle performance. The harsh environment inside tire cavity requires reliable, accurate, low weight, modularized and inexpensive sensors. Challenges, such as the data transmission, power management, lack of physics-based tire models need to be solved before the tire sensor becomes commercially viable for production vehicles.

This chapter presents evidence of persistence in pricing new corporate bond issues. Both transition matrix and regression analyses show that cross-sectional differences in the yields of initial public bond offerings across issuers persist over time, and the persistence effect is stronger for firms with no rating changes, less frequent bond issuance, and higher information asymmetry. Our findings support the hypothesis of the “ride on past” behavior and confirm the value of information production accumulated from the past bond issuances for the pricing of newly issued bonds.

This chapter investigates the cost of public debt for firms using a comprehensive sample consisting of 17,368 industrial bond issues from 1970 to 2011. The empirical evidence shows that yield spreads for seasoned bond issues are significantly lower than those for initial bond issues. This seasoning effect is robust across different sample periods, subsamples, and model specifications. On average, the yield spreads for seasoned bond issues are around 50 bps lower than those for initial bond issues. This difference cannot be explained by other bond and firm characteristics. The seasoning effect is more pronounced for firms with higher levels of uncertainty, lower information disclosure quality, and longer time intervals between the first and subsequent issues. Our empirical findings provide supportive evidence for the extant theories that aim to rationalize the information role in determining the cost of capital.

The purpose of this paper is to summarize the China Agricultural Economic Review (CAER)'s second annual conference, which was organized by the CAER editorial office and International Food Policy Research Institute (IFPRI).

The conference theme was “Agriculture and the Wealth of Nations”, aiming to explore the importance of agriculture as well as the relationship and interaction between agriculture and the whole economy. The attendees from 14 countries discussed the related issues, and a number of distinguished scholars and policy makers were also invited to present at the conference. This summary presents the topics covered at the conference and highlights discussion points.

Action items were identified which could be appropriately organized into the following sections: agricultural trade and rural labor issues; rural governance and public policy; climate change and food security; rural land and rural finance issues.

The paper illustrates how the academic platform established by the CAER‐IFPRI conference, enables scholars from varied cultures and fields to get together to share their researches and ideas.

The purpose of this paper is to empirically analyze the “market-neutral” characteristics of the market-neutral strategy hedge funds in Chinese A-share market.

The analyses in the paper are conducted to study the market-neutral characteristics by means of index analysis, correlation analysis, β-neutral analysis and the three-factor model analysis.

The results show that the performance advantage of the market-neutral strategy hedge funds is obvious. Most market-neutral strategy funds are exposed to market risks and the α strategy funds also have obvious style factor exposure; strictly speaking, all of the market-neutral strategies have not reached the “market-neutral” requirements. This paper also finds that Chinese trading restrictions on stock index futures in September 2015 have a significant impact on Chinese market-neutral strategy hedge funds.

The conclusion of this paper has a certain reference value for understanding the risk characteristics and possible problems of hedge funds in emerging markets, and also has important reference value for investors.

The paper aims to identify the emergent themes of hotel guests’ satisfaction, to compare the distribution of the attributes of the themes between Chinese and North American guests and to compare the importance of the themes for different satisfaction levels between Chinese and North American guests from a cross-cultural perspective.

By adopting Python (a computer language), the word-frequency method was used to identify emergent themes of hotel guests’ satisfaction. Topic modeling was adopted to compare the attributes distribution of each theme and the features of satisfaction between Chinese and North American guests.

First, three themes were identified including functionality, staff and price. Functionality can be further categorized into five subthemes, namely, room, travel, food, environment and hotel facility. Second, the distribution of the attributes of the themes between Chinese and North American guests was compared from a cross-cultural perspective. Chinese guests tend to mention both lifestyles- and social norms–related attributes and expect personalized service, while North American guests mainly prefer to describe lifestyle-related attributes and prefer standardized service. Third, the study compared the changing importance of the themes (functionality, staff and price) for different satisfaction levels between Chinese and North American guests. As the satisfaction level decreases, the importance of functionality decreases, that of staff increases and that of price remain stable for Chinese guests. In contrast, the importance of each theme has fluctuated mildly from the high to the low satisfaction level for North American guests.

Proposed managerial implications are to highlight lifestyle- and social norms-related attributes, as well as personalized service for Chinese guests. However, lifestyle-related attributes and standardized service should be facilitated for North American guests. Specific suggestions were made to help improve hotel performance such as the good performance of functional-related attributes, which could enhance satisfaction and better staff performance, which would reduce dissatisfaction.

By mining big data, this study investigated hotel guests’ satisfaction from a dynamic instead of a static perspective. This study provides some rare insights into differences in key attributes influencing satisfaction levels of Chinese versus North American guests staying in luxury hotels in China. This study also takes a novel approach to examine the dynamics of the importance of the various themes at different satisfaction levels, and contrast these dynamics between Chinese and North American guests. The findings offer valuable insight into market segmentation and management in the hospitality industry.

Microblogs are communication platforms for companies and consumers that challenge companies' brand marketing strategies. This paper provides a theoretical basis for expanding microblog applications and a practical basis for improving the effectiveness of brand marketing.

The authors use factor analysis to extract the factors of microblog user influence and construct a structural equation model to reveal the interaction mechanism of the influencing factors. Additionally, the authors clarify the promotion and enhancement effects of these factors.

Microblog user influence can be converted into richness, interaction and value factors. The richness factor significantly affects the latter two, whereas the interaction factor does not affect the value factor.

First, the sample used is limited to media industry practitioners. To increase generalizability, diverse groups should be included in future studies. Second, this model's theoretical explanatory ability can be further developed by adding other meaningful factors beyond the existing ones.

This study analyzes the factors of microblog user influence in China and validates the relevant elements. As a result, it improves the influence research on social media users and benefits the practice of information recommendation and microblog marketing.

Innovation through tradition (ITT) is an increasingly important area of research particularly in the creative and cultural industries. The purpose of this study is to develop a process framework of ITT for rural heritage bed and breakfast (B&B) sector and investigate the antecedents and challenges of ITT implementation.

Nine heritage B&Bs displaying successful ITT in Songyang county in China were selected as the research site. Multiple cases of B&B were interviewed, and some observations were conducted. This study adopted the process-oriented reflexive critical incident technique to collect qualitative data and analysed it thematically.

Based on the findings, a five-phase innovation framework is proposed to demonstrate how ITT could be achieved in practice. These phases are idea generation, idea evaluation, initial implementation, continuing implementation and sustaining improvement. Three key antecedents (experience corridors, networks and institutional pressures) of ITT implementation were also identified.

This study has showed that rural heritage B&Bs can differentiate themselves from competition by the means of ITT. This study proposes a process framework for this kind of innovation bringing to light the required steps, the antecedents and key activities which the practitioners should pay great attention. This study highlights the needs for continuing and sustaining innovations in the long term.

This study proposes a novel five-phase process framework of ITT to encompass the innovation activities in heritage setting. For practitioners, this study recommends enhancing the sensing capability of local entrepreneurs through personal travel experience and establishing business networks as the key antecedents of a successful ITT under rural heritage setting.

Given the competitive landscape in the higher education setting, it is important that universities adopt strategies that create competitive advantage for them. Universities must leverage their resources efficiently to address this goal. Creating a positive brand image is one such strategy. The purpose of this paper is to conceptualize university brand image as its heritage, service quality and trustworthiness and investigate their relationship with student’s satisfaction. It also investigates the role of university reputation as a mediating variable.

Data were collected through a mixed method approach. The first stage involved qualitative interviews and focused group discussions with students to understand the factors responsible for student satisfaction with their respective universities. The second stage involved administering a survey questionnaire in two geographies – the USA and India to investigate the hypothesized relationship. The authors use regression analyses to test these relationships.

Findings indicate that a distinct brand image plays an important role in students’ level of satisfaction across both the USA and India. Service quality has a greater impact on student satisfaction levels across both contexts (as compared to university heritage and trustworthiness). The authors also find a positive mediating effect of university reputation in the relationship between university brand image and student satisfaction levels.

The current research contributes to the services marketing literature in the university context. It offers a framework for decision making in universities. It suggests that universities must work toward developing their brand image by focusing on its three dimensions – heritage, trustworthiness and service quality.