Jinan Liu and Apostolos Serletis
To investigate the complex relationship between inflation, inflation uncertainty and equity returns.
Abstract
Purpose
To investigate the complex relationship between inflation, inflation uncertainty and equity returns.
Design/methodology/approach
This paper uses a bivariate VARMA, GARCH-in-mean, asymmetric BEKK model to investigate the relationship between inflation, inflation uncertainty and equity returns.
Findings
Using monthly inflation and equity returns data for the G7 and EM7 economies, we find that the effects of inflation and inflation uncertainty on equity returns vary across countries.
Research limitations/implications
The mixed evidence we find potentially reflects the changing dynamics, policy regimes, economic shocks and country-specific factors (such as differences in the financing patterns of enterprises and the legal and financial environments) across the G7 and EM7 countries.
Practical implications
We contribute to the empirical literature in the following ways. First, we rely on a wide sample of countries, including both developed and emerging economies. Second, we extend previous research by estimating a GARCH-in-mean model of monthly equity returns in which both realized returns and their conditional volatility are allowed to vary with inflation. Previous articles that studied the relationship between inflation and stock market returns generally sought time-invariant effects of inflation on stock returns.
Social implications
The paper helps to reconcile the divergent results of previous empirical studies and distinguish between alternative explanations of the relationship between inflation and equity returns.
Originality/value
Our study provides an improved comprehension of the ambiguous relationship between inflation, inflation uncertainty and equity returns under various central bank mandates and different levels of central bank independence. The mixed empirical evidence across countries we present provides insights for the macroeconomic models that consider the relationship between uncertainty and macroeconomic performance as a fundamental building block. Therefore, our empirical study calls for further work on the relationship between inflation, inflation uncertainty and equity returns.
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Yanju Jia, Rui Liu, Ang Li, Fengzhi Sun and Ronnie Yeh
Aiming to investigate the direct and indirect effects of community involvement on residents’ life satisfaction, this study builds a conceptual framework through the mediation…
Abstract
Purpose
Aiming to investigate the direct and indirect effects of community involvement on residents’ life satisfaction, this study builds a conceptual framework through the mediation effect of perceived impacts and trust in government based on social exchange theory. The moderating effect of place attachment among these variables is proposed and empirically examined.
Design/methodology/approach
The conceptual model and causal relationships were estimated by adopting structural equation modeling, a serial mediation and moderation analysis. A total of 362 valid questionnaire data from residents in five rural tourism communities of China were collected and used for data analysis.
Findings
The results indicate that residents’ community involvement directly influences their life satisfaction and indirectly through perceived benefits and trust in government. Place attachment is also found to moderate the effect of community involvement on residents’ life satisfaction.
Originality/value
This study tests the effect of community involvement on residents’ life satisfaction that evolves from linking community involvement to perceived tourism impacts and trust in government to increase life satisfaction within the rural tourism context. It simultaneously detects place attachment as a moderating variable. The findings of this study can provide valuable insights for rural tourism managers to improve residents’ life satisfaction.
目的
为了探究社区参与对居民生活满意度的直接和间接影响, 本研究基于社会交换理论构建了通过感知影响和政府信任作为中介效应的理论模型。同时, 提出并实证检验了地方依恋在这些变量关系中的调节作用。
设计/方法/手段
采用结构方程模型和一系列的中介和调节分析来估计概念模型和变量之间的因果关系。从中国五个乡村旅游社区收集了362份有效问卷并进行数据分析。
研究结果
结果显示, 居民的社区参与不仅直接影响他们的生活满意度, 并且通过感知收益和政府信任对他们的生活满意度产生间接影响。研究还发现,地方依恋可以调节社区参与对居民生活满意度的影响关系。
创意/价值
本研究探讨了乡村旅游可持续发展中社区参与对生活满意度的影响, 这种影响从链接社区参与与旅游感知效应到政府信任, 从而提高生活满意度,同时检验了地方依恋的调节作用。本研究能够为乡村旅游管理者提高居民生活满意度提供有价值的建议。
Propósito
Con el objetivo de investigar los efectos directos e indirectos de la participación de la comunidad en la satisfacción con la vida de los residentes, este estudio construye un marco conceptual a través del efecto mediador de los impactos percibidos y la confianza en el gobierno basado en la teoría del intercambio social. Se propone y examina empíricamente el efecto moderador del apego local entre estas variables.
Diseño/Metodología/Enfoque
La relación causal entre el modelo conceptual y la estructura se estima a través del modelo de ecuación estructural, y se lleva a cabo una serie de análisis de mediación y regulación. Los datos fueron recolectados de 362 cuestionarios válidos de cinco comunidades de turismo rural en China.
Resultados
Los resultados muestran que la participación comunitaria de los residentes influye directamente en su satisfacción con la vida, e indirectamente a través de sus ingresos percibidos y la confianza en el Gobierno. El estudio también encontró que el apego local puede regular la participación de la comunidad en la satisfacción de los residentes con la vida.
Originalidad/valor
Este estudio explora el impacto de la participación comunitaria en la satisfacción con la vida en el desarrollo sostenible del turismo rural, que va desde la vinculación de la participación comunitaria y la percepción turística hasta la confianza del Gobierno, mejorando así la satisfacción con la vida. Al mismo tiempo, se examina la función reguladora del apego local. Los resultados de este estudio proporcionan información de referencia valiosa para que los administradores del turismo rural mejoren la satisfacción de los residentes con la vida.
Details
Keywords
- Life satisfaction
- Community involvement
- Perceived tourism impacts
- Trust in government
- Place attachment
- Sustainable rural tourism development
- 生活满意度
- 社区参与
- 感知旅游影响
- 政府信任
- 地方依恋
- 可持续乡村旅游发展
- Satisfacción con la vida
- Participación comunitaria
- Impacto turístico percibido
- Confianza del gobierno
- Apego local
- Desarrollo rural sostenible
Zhi Liu, Hongjun Wang and Wei Jiang
The human tongue is a unique organ that can be stuck out of the body for physical examination, and tongue diagnosis is very important in traditional Chinese medicine. Automated…
Abstract
Purpose
The human tongue is a unique organ that can be stuck out of the body for physical examination, and tongue diagnosis is very important in traditional Chinese medicine. Automated tongue area detection is crucial and indispensable for computer‐aided tongue diagnosis, but it is difficult to implement because of the physiological properties of the tongue. For example, as a non‐rigid organ, the tongue has a high degree of variability in size, shape, color, and texture. The purpose of this study is to address this problem.
Design/methodology/approach
This paper presents a hybrid framework for tongue area detection based on active shape model and genetic algorithm with the prior knowledge of tongue shape deformation.
Findings
A set of 612 tongue images was collected from both healthy and sick subjects. Using these images, the proposed method was compared with state‐of‐the‐art methods. The proposed method achieved an improvement of about 10 percent, 36 percent, and 6 percent over the existing methods in terms of mean Hausdorff distance, mean closest point distance, and Williams Index, respectively. The results demonstrate the efficacy of our proposed method in terms of both robustness and accuracy.
Originality/value
The proposed method gives a new approach for computer‐aided tongue diagnosis in medicine.
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Zhiyong Yang, Ying Wang and Jiyoung Hwang
Generation Z makes up 20% of China’s population, and accounts for the highest share of household spend at 13% (vs. 3% for the United Kingdom and 4% for the United States). To…
Abstract
Generation Z makes up 20% of China’s population, and accounts for the highest share of household spend at 13% (vs. 3% for the United Kingdom and 4% for the United States). To advance marketers’ understanding about this group of consumers and capitalise on China’s booming market, this chapter uses rich statistics and information to show that China’s Generation Z has distinct behaviour patterns, which can be attributed to the unique background in which they grew up: (1) rigidity of social stratification, (2) abundance of materialism, (3) digital era, (4) limited (vs. extended) family, and (5) heavy schoolwork. Growing up in such a background, Generation Z’s lifestyle and consumption-related attitudes and behaviour are distinct from their predecessors. The chapter presents specific actions that marketers can take when targeting this distinct group of consumers in China, along with useful guidelines to HR managers for hiring them.
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Xiangchun Li, Yuzhen Long, Chunli Yang, Yinqing Wang, Mingxiu Xing and Ying Jiang
Effective safety supervision plays a crucial role in ensuring safe production within coal mines. Conventional coal mine safety supervision (CMSS) in China has suffered from the…
Abstract
Purpose
Effective safety supervision plays a crucial role in ensuring safe production within coal mines. Conventional coal mine safety supervision (CMSS) in China has suffered from the problems of power-seeking, excessive resource consumption and poor timeliness. This paper aims to explore the Internet+ CMSS mode being emerged in China.
Design/methodology/approach
The evolution of CMSS systems underwent comprehensive scrutiny through a blend of qualitative and quantitative approaches. First, evolutionary game theory was used to analyze the necessity of incorporating Internet+ technology. Second, a system dynamics model of Internet+ CMSS was crafted, encompassing a system flow diagram and equations for various variables. The model was subsequently simulated by taking the W coal mine in Shanxi Province as a representative case study.
Findings
It was revealed that the expected safety profit from the Internet+ mode is 296.03% more than that from the conventional mode. The precise dissemination of law enforcement information was identified as a pivotal approach through which the Internet+ platform served as a conduit to foster synergistic collaboration among diverse elements within the system.
Practical implications
The outcomes of this study not only raise awareness about the potential of Internet+ technology in safety supervision but also establish a vital theoretical foundation for enhancing the efficacy of the Internet+ CMSS mode. The significance of these findings extends to fostering the wholesome and sustainable progress of the coal mining industry.
Originality/value
This research stands out as one of the limited studies that delve into the influence of Internet+ technology on CMSS. Building upon the pivotal approach identified, to the best of authors’ knowledge, a novel “multi-blind” working mechanism for Internet+ CMSS is introduced for the first time.
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Xiaona Pang, Wenguang Yang, Wenjing Miao, Hanyu Zhou and Rui Min
Through the scientific and reasonable evaluation of the site selection of the emergency material reserve, the optimal site selection scheme is found, which provides reference for…
Abstract
Purpose
Through the scientific and reasonable evaluation of the site selection of the emergency material reserve, the optimal site selection scheme is found, which provides reference for the future emergency decision-making research.
Design/methodology/approach
In this paper, we have chosen three primary indicators and twelve secondary indicators to construct an assessment framework for the determination of suitable locations for storing emergency material reserves. By mean of the improved entropy weight-order relationship weight determination method, the evaluation model of kullback leibler-technique for order preference by similarity to an ideal solution (KL-TOPSIS) emergency material reserve location based on relative entropy is established. On this basis, 10 regional storage sites in Beijing are selected for evaluation.
Findings
The results show that the evaluation model of the location of emergency material reserve not only respects the objective knowledge, but also considers the subjective information of the experts, which makes the ranking result of the location of the emergency material reserve more accurate and reliable.
Originality/value
Firstly, the modification factor is added to the calculation formula of traditional entropy weight method to complete the improvement of entropy weight method. Secondly, the order relation analysis method is used to assign subjective weights to the indicators. The principle of minimum information entropy is introduced to determine the comprehensive weight of the index. Finally, KL distance and TOPSIS method are combined to determine the relative entropy and proximity degree of alternative solutions and positive and negative ideal solutions, and the scientific and effective of the method is proved by case study.
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Ren-huai Liu, Kai Sun and Dongchuan Sun
The purpose of this article is to put forward China’s Hanyu Pinyin word guanli as an academic basic term to the world.
Abstract
Purpose
The purpose of this article is to put forward China’s Hanyu Pinyin word guanli as an academic basic term to the world.
Design/methodology/approach
GUANLI as an academic basic term, which holds multiple meanings of several English words, such as management, administration, governance, etc. As a basic term, GUANLI, derived several words, such as GUANLIOLOGY, GUANLIST/GUANLIER and GUANLIWORK/GUANLIJOB, to precisely and exactly convey the Chinese GUANLI ideas. It is the historical mission and opportunity for the authors to research and establish the Chinese School of Modern GUANLI Science (CSMGS).
Findings
It is inevitably necessary to build the combined Chinese–Western discourse system of GUANLI science (CCWDSGS). Some other research results of CSMGS are also presented in this paper.
Research limitations/implications
It is needless to say that there are still lots of problems in China, including in the GUANLI field. These problems will gradually be solved in China’s reform and development that takes place continuously. New problems will come up while old problems are being solved and settled; problems producing in a loop, problems solving in a loop, this is the dialectics. The authors have full confidence in solving problems, as well as in China’s development and future.
Originality/value
Practice comes first and then it is followed by theory. The authors first have the “China Model”, followed by the “Chinese School” consequently. The “China Model” has already been there, and the “Chinese School” relies on the author’s proactive research and innovation. It is just the right time for the authors to study and create the CSMGS. This is the historical mission and opportunity awaited by contemporary Chinese.
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Min Liu, Xin Liu, Birgit Muskat, Xi Yu Leung and Shanshi Liu
Counterproductive work behavior (CWB) has grown into a significant problem in the tourism industry, for both individual employees and organizations. Employees who feel ostracized…
Abstract
Purpose
Counterproductive work behavior (CWB) has grown into a significant problem in the tourism industry, for both individual employees and organizations. Employees who feel ostracized in their workplace often engage in negative and disruptive behaviors. The purpose of this study is to explore the psychological mechanism between workplace ostracism and CWB among tourism employees.
Design/methodology/approach
Drawing on psychological contract theory and social cognitive theory, the study proposed a research framework to explain tourism employees’ counterproductive behavior. Data were collected from 228 hotel employees at two time points in Huangshan, China. Hierarchical regression and SPSS-PROCESS Macro were used to test all the hypotheses.
Findings
Findings show that workplace ostracism significantly increases employee CWB, mediated by psychological contract violation. Workplace ostracism increases perceptions of psychological contract violation when employee self-esteem is higher. The mediating effect of psychological contract violation is also moderated by self-esteem.
Originality/value
Using the framework of psychological contract theory and social cognitive theory, the authors advance the organizational behavior literature in the tourism field. The authors contextualize the uniqueness of Chinese workplace behavior and highlight the need to understand “losing face (mianzi) view” in workplace relationships. This research contributes to better understanding the dark side of tourism workplace behavior by examining the effects of psychological contract violation and employee’s self-esteem on workplace ostracism and CWB.
目的
旅游业中的反生产行为(CWB)已经成为一个重要问题, 反生产行为对员工和组织都会产生影响。在工作场所感到被排斥的员工往往会从事消极和破坏性的行为。本文的目的是研究旅游业员工工作场所排斥与反生产行为之间的心理机制。
设计/方法
基于心理契约理论和社会认知理论, 本研究提出了一个研究框架来解释旅游业员工的反生产行为发生机制。我们在中国黄山景区对228名酒店员工进行了两个时间点的问卷调查。采用分层回归和SPSS PROCESS Macro来测试所有假设。
结果
结果表明 工作场所排斥显著增加员工反生产行为, 心理契约违背在其中起着中介作用。当员工自尊心较高时, 职场排斥对心理契约违反的感知影响更强。心理契约违背的中介效应也受到自尊心的调节。
独创性/研究价值
我们运用心理契约理论和社会认知理论的框架, 推动了旅游领域的组织行为研究进展。我们讨论了中国情境下职场行为的独特性, 并强调在职场关系中需要考虑“面子观”。我们通过展示心理契约违背和员工自尊心对工作场所排斥和反生产行为(CWB)的影响, 有助于更好地理解旅游工作场所行为的负面影响。
Propósito
El comportamiento laboral contraproducente (CLC) en la industria turística se ha convertido en un problema significativo tanto para los empleados individuales como para las organizaciones. Los empleados que se sienten marginados en su lugar de trabajo suelen participar en comportamientos negativos y disruptivos. El objetivo de este trabajo es examinar los efectos de la violación del contrato psicológico y la autoestima del empleado en el ostracismo en el lugar de trabajo y en el comportamiento laboral contraproducente CLC y agregar nuevos conocimientos para comprender mejor el lado oscuro del comportamiento laboral turístico.
Diseño/metodología/enfoque
Realizamos una encuesta de cuestionario a 228 empleados de hotel en dos momentos en Huangshan, China. Se utilizaron la regresión jerárquica y el SPSS PROCESS Macro para probar todas las hipótesis.
Resultados
Los resultados muestran que 1) el ostracismo en el lugar de trabajo aumenta significativamente la CLC de los empleados. 2) La violación psicológica del contrato juega un papel mediador entre el ostracismo en el lugar de trabajo y CLC. 3) El ostracismo en el lugar de trabajo aumenta las percepciones de violación psicológica del contrato cuando la autoestima de los empleados es mayor. 4) El efecto mediador de la violación psicológica del contrato también es moderado por la autoestima.
Originalidad/valor
Utilizando el marco de la teoría del contrato psicológico y la teoría cognitiva social, avanzamos en la literatura del comportamiento organizacional en el campo del turismo. Contextualizamos la singularidad del comportamiento en el lugar de trabajo chino y destacamos la necesidad de comprender la 'pérdida de la visión de la cara (mianzi)' en las relaciones laborales. Esta investigación contribuye con nuevos conocimientos para comprender mejor el lado oscuro del comportamiento turístico en el lugar de trabajo al examinar los efectos de la violación psicológica del contrato y la autoestima de los empleados en el ostracismo en el lugar de trabajo.
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Huifang Liu, Weidong Chen, Pengwei Yuan and Xiaoqing Dong
This study aims to examine the impact of climate change on the total factor productivity (TFP) of tourism in Chinese cities. Using temperature and precipitation as proxies for…
Abstract
Purpose
This study aims to examine the impact of climate change on the total factor productivity (TFP) of tourism in Chinese cities. Using temperature and precipitation as proxies for climate change, the research analyzes both the direct negative effects of climate change on tourism productivity and the positive spillover effects on neighboring cities. In addition, it investigates how geographic location and economic development contribute to the variation in these effects. The study also explores the mechanisms through which government intervention and industrial structure upgrading influence these impacts.
Design/methodology/approach
This study uses a spatial Durbin model to analyze the relationship between climate change and tourism TFP in 287 Chinese cities from 2000 to 2020. Panel data is used, with temperature and precipitation serving as proxies for climate change. The model evaluates both the direct and spillover effects of climate change on tourism productivity, while also analyzing the mechanisms through which government intervention and industrial upgrading affect these relationships. The study further considers how geographic location and economic development impact the results.
Findings
This study finds that climate change directly reduces tourism TFP, while generating positive spillover effects for neighboring cities. Cities in the eastern and more economically developed regions are more sensitive to climate change, experiencing stronger impacts compared to cities in central and western regions. The findings suggest that government intervention and industrial structure upgrading are important mechanisms through which climate change affects tourism productivity in Chinese cities.
Originality/value
This research fills a gap in the literature regarding how climate change affects tourism productivity in developing countries, particularly in China. By applying a spatial Durbin model and panel data analysis, the study provides empirical evidence on both the direct and spillover effects of climate change on tourism productivity. It highlights the critical role of government intervention and industrial upgrading as mechanisms shaping the impact of climate change, offering new insights for policymakers and tourism businesses to address the challenges posed by climate change and enhance productivity and competitiveness.
目的
本研究旨在探讨气候变化对中国城市旅游全要素生产率的影响。通过温度和降水量作为气候变化的代理变量, 研究分析了气候变化对旅游全要素生产率的直接抑制效应及其对邻近城市的积极溢出效应。此外, 研究考察了地理位置与经济发展水平如何导致这些效应的异质性。通过分析政府干预和产业结构升级的机制, 本研究为气候变化影响旅游全要素生产率的机制分析提供了理论支持, 为提升发展中国家旅游竞争力提供了指导。
设计/方法论/研究方法
本研究采用空间杜宾模型分析2000年至2020年期间, 中国287个城市的气候变化与旅游全要素生产率之间的关系。研究使用面板数据, 温度和降水量作为气候变化的代理变量。模型分析了气候变化对旅游全要素生产率的直接效应与溢出效应, 并研究了政府干预与产业结构升级的机制效应。研究还考察了基于地理位置与经济发展水平的异质性影响, 提供了气候变化对城市旅游全要素生产率影响的综合分析。
研究发现
气候变化直接抑制旅游全要素生产率, 同时对邻近城市产生积极的溢出效应。东部城市及高经济水平地区对气候变化更为敏感, 影响强于中西部地区。研究发现, 政府干预与产业结构升级是气候变化影响中国城市旅游全要素生产率的关键机制。
原创性/价值
本研究填补了气候变化如何影响发展中国家, 尤其是中国, 旅游全要素生产率领域的研究空白。通过运用空间杜宾模型和面板数据分析, 提供了气候变化对旅游全要素生产率的直接效应与溢出效应的实证证据。研究强调了政府干预和产业结构升级作为气候变化影响旅游全要素生产率的主要机制。通过关注区域异质性与经济发展水平, 本研究为旅游企业与政策制定者应对气候变化挑战,提升生产力和竞争力提供了新的思路。
Objetivo
Este estudio examina el impacto del cambio climático en la productividad total de los factores (PTF) del turismo en las ciudades chinas. Utilizando la temperatura y las precipitaciones como indicadores del cambio climático, la investigación analiza tanto los efectos negativos directos del cambio climático sobre la productividad del turismo como los efectos indirectos positivos sobre las ciudades vecinas. Además, investiga cómo la ubicación geográfica y el desarrollo económico contribuyen a la variación de estos efectos. El estudio también explora los mecanismos a través de los cuales la intervención gubernamental y la mejora de la estructura industrial influyen en estos impactos.
Diseño/Metodología/Enfoque
Este estudio utiliza un modelo espacial de Durbin (SDM) para analizar la relación entre el cambio climático y la productividad total de los factores del turismo en 287 ciudades chinas entre 2000 y 2020. Se emplean datos de panel, en los que la temperatura y las precipitaciones sirven como variables sustitutivas del cambio climático. El modelo evalúa tanto los efectos directos como los indirectos del cambio climático sobre la productividad del turismo, al tiempo que analiza los mecanismos a través de los cuales la intervención gubernamental y la modernización industrial afectan a estas relaciones. El estudio examina además cómo influyen en los resultados la ubicación geográfica y el desarrollo económico.
Resultados
El estudio concluye que el cambio climático reduce directamente la productividad total de los factores del turismo, al tiempo que genera efectos indirectos positivos para las ciudades vecinas. Las ciudades de las regiones orientales y económicamente más desarrolladas son más sensibles al cambio climático y experimentan impactos más fuertes que las ciudades de las regiones centrales y occidentales. Los resultados sugieren que la intervención gubernamental y la mejora de la estructura industrial son mecanismos importantes a través de los cuales el cambio climático afecta a la productividad del turismo en las ciudades chinas.
Originalidad/Valor
Esta investigación llena un vacío en la literatura sobre cómo el cambio climático afecta a la productividad del turismo en los países en desarrollo, especialmente en China. Aplicando un modelo espacial de Durbin y un análisis de datos de panel, el estudio aporta pruebas empíricas sobre los efectos directos y indirectos del cambio climático en la productividad del turismo. Destaca el papel decisivo de la intervención pública y la modernización industrial como mecanismos que determinan el impacto del cambio climático, ofreciendo nuevas perspectivas a los responsables políticos y las empresas turísticas para afrontar los retos que plantea el cambio climático y mejorar la productividad y la competitividad.
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Jia Liu, Li Yao, Di Cai and Shengming Liu
Previous research on the factors influencing mentoring received has primarily focused on protégés' personalities and the similarity between protégés and mentors, whereas…
Abstract
Purpose
Previous research on the factors influencing mentoring received has primarily focused on protégés' personalities and the similarity between protégés and mentors, whereas understanding on the role of protégés' skills is still limited. Drawing upon the social influence theory, this study investigated how newcomers' political skill influences newcomers' mentoring received and further affects newcomers' socialization outcomes (i.e. person-organization fit perception [P-O fit], performance proficiency and well-being).
Design/methodology/approach
Data were collected from 255 newcomers at a large Chinese information and technology (IT) company using a three-wave, time-lagged design.
Findings
The authors found that newcomers' political skill positively predicted mentoring received, which in turn positively affected newcomers' socialization outcomes.
Originality/value
These findings indicate that political skill enables newcomers to exert social influence on organizational insiders to achieve desirable socialization outcomes, enlarging both the mentoring and political skill literature.