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Article
Publication date: 9 August 2022

Huaiyu Wang, Xi Hu, Shuangquan Yang and Guoquan Xu

The study aims to examine the impact of farmers’ actual adaptations on rice yields in the upland areas of Yunnan province, China.

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Abstract

Purpose

The study aims to examine the impact of farmers’ actual adaptations on rice yields in the upland areas of Yunnan province, China.

Design/methodology/approach

The paper employs the simultaneous equations model with endogenous switching to investigate the different effects of adaptation strategies on rice yields achieved by adopters and nonadopters based on the cross-sectional data at farm level.

Findings

The results show that farmers’ access to government agricultural extension services significantly encourages rice farmers to make the adjustments in farm managements. The authors find that the adaptation strategies employed by farmers significantly increase rice yields. Adaptations adopted by upland farmers increase rice yields for both adopters and nonadopters, particularly for the nonadopters.

Originality/value

This paper contributes to the existing literature by focusing on farmers’ adaptation strategies to climate change in uplands of Yunnan using the primary household survey data. The results show the effectiveness of farmers’ adaptation adoptions on rice yields in uplands of Yunnan province.

Details

China Agricultural Economic Review, vol. 14 no. 4
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 9 January 2023

Leilei Shi, Xinshuai Guo, Andrea Fenu and Bing-Hong Wang

This paper applies a volume-price probability wave differential equation to propose a conceptual theory and has innovative behavioral interpretations of intraday dynamic market…

793

Abstract

Purpose

This paper applies a volume-price probability wave differential equation to propose a conceptual theory and has innovative behavioral interpretations of intraday dynamic market equilibrium price, in which traders' momentum, reversal and interactive behaviors play roles.

Design/methodology/approach

The authors select intraday cumulative trading volume distribution over price as revealed preferences. An equilibrium price is a price at which the corresponding cumulative trading volume achieves the maximum value. Based on the existence of the equilibrium in social finance, the authors propose a testable interacting traders' preference hypothesis without imposing the invariance criterion of rational choices. Interactively coherent preferences signify the choices subject to interactive invariance over price.

Findings

The authors find that interactive trading choices generate a constant frequency over price and intraday dynamic market equilibrium in a tug-of-war between momentum and reversal traders. The authors explain the market equilibrium through interactive, momentum and reversal traders. The intelligent interactive trading preferences are coherent and account for local dynamic market equilibrium, holistic dynamic market disequilibrium and the nonlinear and non-monotone V-shaped probability of selling over profit (BH curves).

Research limitations/implications

The authors will understand investors' behaviors and dynamic markets through more empirical execution in the future, suggesting a unified theory available in social finance.

Practical implications

The authors can apply the subjects' intelligent behaviors to artificial intelligence (AI), deep learning and financial technology.

Social implications

Understanding the behavior of interacting individuals or units will help social risk management beyond the frontiers of the financial market, such as governance in an organization, social violence in a country and COVID-19 pandemics worldwide.

Originality/value

It uncovers subjects' intelligent interactively trading behaviors.

Details

China Finance Review International, vol. 13 no. 4
Type: Research Article
ISSN: 2044-1398

Keywords

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Book part
Publication date: 21 August 2019

Peter Huaiyu Chen, Kasing Man, Junbo Wang and Chunchi Wu

We examine the informational roles of trades and time between trades in the domestic and overseas US Treasury markets. A vector autoregressive model is employed to assess the…

Abstract

We examine the informational roles of trades and time between trades in the domestic and overseas US Treasury markets. A vector autoregressive model is employed to assess the information content of trades and time duration between trades. We find significant impacts of trades and time duration between trades on price changes. Larger trade size induces greater price revision and return volatility, and higher trading intensity is associated with a greater price impact of trades, a faster price adjustment to new information and higher volatility. Higher informed trading and lower liquidity contribute to larger bid–ask spreads off the regular daytime trading period.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-78973-285-6

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Article
Publication date: 20 November 2024

Huaiyu Jia, Dajiang Chen, Zhidong Xie and Zhiguang Qin

This paper aims to provide a secure and efficient pairing protocol for two devices. Due to the large amount of data involving sensitive information transmitted in Internet of…

8

Abstract

Purpose

This paper aims to provide a secure and efficient pairing protocol for two devices. Due to the large amount of data involving sensitive information transmitted in Internet of Things (IoT) devices, generating a secure shared key between smart devices for secure data sharing becomes essential. However, existing smart devices pairing schemes require longer pairing time and are difficult to resist attacks caused by context, as the secure channel is established based on restricted entropy from physical context.

Design/methodology/approach

This paper proposes a fuzzy smart IoT device pairing protocol via speak to microphone, FS2M. In FS2M, the device pairing is realized from the speaking audio of humans in the environment around the devices, which is easily implemented in the vast majority of Internet products. Specifically, to protect the privacy of secret keys and improve efficiency, this paper presents a single-round pairing protocol by adopting a recently published asymmetric fuzzy encapsulation mechanism (AFEM), which allows devices with similar environmental fingerprints to successfully negotiate the shared key. To instantiate AFEM, this paper presents a construction algorithm, the AFEM-ECC, based on elliptic curve cryptography.

Findings

This paper analyzes the security of the FS2M and its pairing efficiency with extensive experiments. The results show that the proposed protocol can achieve a secure device pairing between two IoT devices with high efficiency.

Originality/value

In FS2M, a novel cryptographic primitive (i.e., AFEM-ECC) are designed for IoT device pairing by using a new context-environment (i.e., human voice) . The experimental results show that FS2M has a good performance in both communication cost (i.e., 130 KB) and running time (i.e., 10 S).

Details

International Journal of Web Information Systems, vol. 21 no. 1
Type: Research Article
ISSN: 1744-0084

Keywords

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Book part
Publication date: 21 August 2019

Peter Huaiyu Chen, Sheen X. Liu and Chunchi Wu

Current US tax laws provide investors an incentive to time the sales of their bonds to minimize tax liability. This gives rise to a tax-timing option that affects bond value. In…

Abstract

Current US tax laws provide investors an incentive to time the sales of their bonds to minimize tax liability. This gives rise to a tax-timing option that affects bond value. In reality, corporate bond investors’ tax-timing strategy is complicated by risk of default. Existing term structure models have ignored the effect of the tax-timing option, and how much corporate bond value is due to the tax-timing option is unknown. In this chapter, we assess the effects of taxes and stochastic interest rates on the timing option value and equilibrium price of corporate bonds by considering discount and premium amortization, multiple trading dates, transaction costs, and changes in the level and volatility of interest rates. We find that the value of the tax-timing option accounts for a substantial proportion of corporate bond price even when interest rate volatility is low. Ignoring the timing option value results in overestimation of credit spread, and underestimation of default probability and the marginal investor’s income tax rate. These estimation biases generally increase with bond maturity and credit risk.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-78973-285-6

Keywords

Available. Content available
Book part
Publication date: 21 August 2019

Abstract

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-78973-285-6

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