Jiancheng Shen, Mohammad Najand, Feng Dong and Wu He
Emotion plays a significant role in both institutional and individual investors’ decision-making process. Emotions affect the perception of risk and the assessment of monetary…
Abstract
Purpose
Emotion plays a significant role in both institutional and individual investors’ decision-making process. Emotions affect the perception of risk and the assessment of monetary value. However, there is a lack of empirical evidence available that addresses how investors’ emotions affect commodity market returns. The purpose of this paper is to investigate whether media-based emotions can be used to predict future commodity returns.
Design/methodology/approach
The authors examine the short-term predictive power of media-based emotion indices on the following five days’ commodity returns. The research adopts a proprietary data set of commodity-specific market emotions, which is computed based on a comprehensive textual analysis of sources from newswires, internet news sources and social media. Time series econometrics models (threshold generalized autoregressive conditional heteroskedasticity and vector autoregressive) are employed to analyze 14 years (January 1998-December 2011) of daily observations of the CRB commodity market index, crude oil and gold returns, and the market-level sentiments and emotions (optimism, fear and joy).
Findings
The empirical results suggest that the commodity-specific emotions (optimism, fear and joy) have significant influence on individual commodity returns, but not on commodity market index returns. Additionally, the research findings support the short-term predictability of the commodity-specific emotions on the following five days’ individual commodity returns. Compared to the previous studies of news sentiment on commodity returns (Borovkova, 2011; Borovkova and Mahakena, 2015; Smales, 2014), this research provides further evidence of the effects of news and social media-based emotions (optimism, fear and joy) in the commodity market. Additionally, this work proposes that market emotion incorporates both a sentimental effect and appraisal effect on commodity returns. Empirical results are shown to support both the sentimental effect and appraisal effect when market sentiment is controlled in crude oil and gold spot markets.
Originality/value
This paper adopts the valence-arousal approach and cognitive appraisal approach to explain financial anomalies caused by investors’ emotions. Additionally, this is the first paper to explore the predictive power of investors’ emotions (optimism, fear and joy) on commodity returns.
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Wu He, Jiancheng Shen, Xin Tian, Yaohang Li, Vasudeva Akula, Gongjun Yan and Ran Tao
Social media analytics uses data mining platforms, tools and analytics techniques to collect, monitor and analyze massive amounts of social media data to extract useful patterns…
Abstract
Purpose
Social media analytics uses data mining platforms, tools and analytics techniques to collect, monitor and analyze massive amounts of social media data to extract useful patterns, gain insight into market requirements and enhance business intelligence. The purpose of this paper is to propose a framework for social media competitive intelligence to enhance business value and market intelligence.
Design/methodology/approach
The authors conducted a case study to collect and analyze a data set with nearly half million tweets related to two largest retail chains in the world: Walmart and Costco in the past three months during December 1, 2014-February 28, 2015.
Findings
The results of the case study revealed the value of analyzing social media mentions and conducting sentiment analysis and comparison on individual product level. In addition to analyzing the social media data-at-rest, the proposed framework and the case study results also indicate that there is a strong need for creating a social media data application that can conduct real-time social media competitive intelligence for social media data-in-motion.
Originality/value
So far there is little research to guide businesses for social media competitive intelligence. This paper proposes a novel framework for social media competitive intelligence to illustrate how organizations can leverage social media analytics to enhance business value through a case study.
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Jiancheng Long, Haiman Liu and Zunhuan Shen
Drawing on threatened egoism theory, tournament theory and the extended agency model of narcissism, this paper aims to compare the effects of two different forms of grandiose…
Abstract
Purpose
Drawing on threatened egoism theory, tournament theory and the extended agency model of narcissism, this paper aims to compare the effects of two different forms of grandiose narcissism of employees, namely, narcissistic rivalry (NR) and narcissistic admiration (NA), on knowledge hiding (HIDE), and investigate the potential mediating mechanism and boundary conditions.
Design/methodology/approach
Based on a three-wave survey of 296 participants recruited from six high-tech enterprises in China, the paper tests the proposed model by performing partial least squares structural equation modeling and a bias-corrected bootstrapping procedure.
Findings
The results indicate that NR facilitates knowledge hiding, while NA inhibits employees’ knowledge-hiding behavior. Emotional exhaustion plays a significant mediating role between NR and HIDE, and interpersonal trust negatively mediates the relationship between NA and HIDE. Moreover, interactional justice perception not only weakens the positive correlation between NR and emotional exhaustion but also weakens the indirect influence of NR on HIDE via emotional exhaustion. On the contrary, interactional justice perception strengthens the impact of NA on interpersonal trust, thus enhancing the mediating effect of NA on HIDE.
Originality/value
The present study expands the literature on knowledge management by addressing the underlying paradoxes of grandiose narcissistic employees’ HIDE behavior based on different connotations of narcissism and revealing the intervening mechanism with interactive justice perception as the moderator.
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Yuqian Zhou, Gongbing Bi, Jiancheng Lv and Hongping Li
This paper aims to develop an optimal buyback promotion strategy for enterprises, including multibuyback strategy and self-buyback strategy, taking both the consumer's…
Abstract
Purpose
This paper aims to develop an optimal buyback promotion strategy for enterprises, including multibuyback strategy and self-buyback strategy, taking both the consumer's multichannel psychological acquisition attributes and remaining market into account.
Design/methodology/approach
Based on the game theory and Hotelling model, the authors formulate a new model to study the equilibrium of different buyback models, given the utility maximization of the consumers, the profit maximization and the constraint on nondecreasing market share of the enterprises, and the authors conduct comparative analysis.
Findings
Intuitively, enterprises buying back products of other brands would appeal to some consumers. However, the authors find that after implementing the multibuyback scheme, enterprises may not be able to seize competitors' markets or even lose their original customer base in the context considered in this article counterintuitive. In addition, the size of remaining market share and the consumer's multichannel psychological acquisition affect the choice of buyback promotion strategies. Moreover, after implementing multibuyback scheme, customers with old products subsidize those who receive additional discounts. Finally, the authors point out that the buyback strategy choices of companies with different goal-oriented are diverse.
Practical implications
This study has a very solid realistic background and provides guidance for enterprises to implement buyback promotion strategies. In addition, the authors unearth new influencing factors to provide a reasonable explanation for different buyback strategies in reality.
Originality/value
To the best of the authors’ knowledge, this study is one of the first to explore the multibuyback promotion strategy as a new buyback method, where the two influencing factors the authors have not been proposed so far.
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Shervin Zakeri, Yingjie Yang and Melika Hashemi
The purpose of this paper is to implement the strategies selection process in a proposed formulated mathematical framework to prioritize selected strategies with the interaction…
Abstract
Purpose
The purpose of this paper is to implement the strategies selection process in a proposed formulated mathematical framework to prioritize selected strategies with the interaction of other groups of strategies, known as the strategies interaction model (SIM).
Design/methodology/approach
SWOT analysis is a popular useful strategic planning tool, which analyzes organizations internal and external factors. The traditional SWOT procedure lists internal and external factors and derives four groups of strategies based on the organization’s strategic position. SWOT is easy to use as a business analyzing tool, while it is not competent enough for strategic formulation. With the emergence of the economy’s vicissitudes, undulations in the markets and multiple changes, and various variables in the industrial competitive environment, selection of the organization strategies confront uncertainty in decision making. The SIM framework presents a solution to select alternative strategies for organizations in unpredictable situations.
Findings
The findings show that SIM is a reliable approach to evaluate, select and rank organization’ strategies. SIM proposes alternative strategies due to the uncertainty of the organization’ environment with respect to the four strategic positions. The SIM’ proposed ranking process is in accordance with the highest impact of each strategy on each other. Furthermore, it possesses advantages of AHP, ANP and other applied multiple criteria decision-making (MCDM) techniques in SWOT analysis.
Practical implications
In this paper SIM is applied within a dairy company located in the north of Iran.
Originality/value
SIM has the advantages of the classic SWOT and fills the gaps of MCDM methods application in the SWOT analysis. Moreover, it provides a formulated algorithm for the organizations to face the uncertainty of the environment. SIM philosophy can be widely used in the decision and managerial implications.
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Modupeola Dada, Patricia Popoola, Ntombi Mathe, Sisa Pityana and Samson Adeosun
In this study, AlCoCrFeNi–Cu (Cu-based) and AlCoCrFeNi–Ti (Ti-based) high entropy alloys (HEAs) were fabricated using a direct blown powder technique via laser additive…
Abstract
Purpose
In this study, AlCoCrFeNi–Cu (Cu-based) and AlCoCrFeNi–Ti (Ti-based) high entropy alloys (HEAs) were fabricated using a direct blown powder technique via laser additive manufacturing on an A301 steel baseplate for aerospace applications. The purpose of this research is to investigate the electrical resistivity and oxidation behavior of the as-built copper (Cu)- and titanium (Ti)-based alloys and to understand the alloying effect, the HEAs core effects and the influence of laser parameters on the physical properties of the alloys.
Design/methodology/approach
The as-received AlCoCrFeNiCu and AlCoCrFeNiTi powders were used to fabricate HEA clads on an A301 steel baseplate preheated at 400°C using a 3 kW Rofin Sinar dY044 continuous-wave laser-deposition system fitted with a KUKA robotic arm. The deposits were sectioned using an electric cutting machine and prepared by standard metallographic methods to investigate the electrical and oxidation properties of the alloys.
Findings
The results showed that the laser power had the most influence on the physical properties of the alloys. The Ti-based alloy had better resistivity than the Cu-based alloy, whereas the Cu-based alloy had better oxidation residence than the Ti-based alloy which attributed to the compositional alloying effect (Cu, aluminum and nickel) and the orderliness of the lattice, which is significantly associated with the electron transportation; consequently, the more distorted the lattice, the easier the transportation of electrons and the better the properties of the HEAs.
Originality/value
It is evident from the studies that the composition of HEAs and the laser processing parameters are two significant factors that influence the physical properties of laser deposited HEAs for aerospace applications.