Dong-Hua Wang, Nan Qing, Man Lei and Xiaohui Chang
The purpose of this paper is to identify the bull and bear regimes in Chinese stock market and empirically analyze the dynamic relation of Chinese stock price-volume pre- and…
Abstract
Purpose
The purpose of this paper is to identify the bull and bear regimes in Chinese stock market and empirically analyze the dynamic relation of Chinese stock price-volume pre- and post- the Split Share Structure Reform.
Design/methodology/approach
The authors investigate the price-volume relationship in the Chinese stock market before and after the Split Share Structure Reform using Shanghai Composite Index daily data from July 1994 to April 2013. Using a two-state Markov-switching autoregressive model and a modified two-state Markov-switching vector autoregression model, this study identifies bull or bear market and also examine the existence of regime-dependent Granger causality.
Findings
Using a two-state Markov-switching autoregressive model, the authors detect structural changes in the market volatility due to the reform, and find evidence of a positive rather than an asymmetric price-volume contemporaneous correlation. There is a strong dynamic Granger causal relation from stock returns to trading volume before and after the reform regardless of the market conditions, but the causal effects of volume on returns are only seen in the bear markets before the reform. The model is robust when using different stock indices and time periods.
Originality/value
The work is different from previous studies in the following aspects: most of the existing empirical literature focus on the well-developed economies, but our interest lies in the emerging Chinese market that has witnessed rapid growth in the past decade; in contrast to many works in the literature that examine the price-volume relationship during one market condition, the authors compare the relationship in a bull market with that in a bear market, using a two-state MS-AR model; the authors also employ a modified two-state Markov-switching vector autoregression model to examine the existence of regime-dependent Granger causality; as the most massive systematic reform for the Chinese stock market since its inception in 2005, the Split Share Structure Reform has a profound impact on the Chinese stock market, thus it is of vital importance to explore its effects on both the price-volume relationship and the market structure.
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In 1987, Campbell Soup Company introduced the Souper Combo, a line of frozen soup and sandwiches. Melvin Druin, vice‐president for packaging, called it “the perfect combination of…
Abstract
In 1987, Campbell Soup Company introduced the Souper Combo, a line of frozen soup and sandwiches. Melvin Druin, vice‐president for packaging, called it “the perfect combination of old‐fashioned good taste and today's convenience. No mess. No fuss. Easy to use. All you have to do is clean your spoon. Everything else just throw away.” Unfortunately, the multi‐layered plastic‐coated packaging does not just disappear when thrown away. Plastics packaging, particularly from convenience products, has become a waste disposal nightmare. Garbage, an environmental magazine, gave the Souper Combo an “in the dumpster” award, saying, “It's precisely the kind of product that's created the municipal landfill monster.”
Prabodh Bajpai and Sri Niwas Singh
The purpose of this paper is to introduce a prospective market monitoring system (MMS) for surveillance of Indian power market using a set of new market monitoring indices.
Abstract
Purpose
The purpose of this paper is to introduce a prospective market monitoring system (MMS) for surveillance of Indian power market using a set of new market monitoring indices.
Design/methodology/approach
It is necessary for the system regulators and policy makers to identify the potential market power and find ways to mitigate them to improve the market efficiency. The simple way to curb market power is the capping of bidding price to several times the average price of electricity. However, this approach is not ideal as it could mask the real market trading situation. The best way for the regulator is to identify which particular generators are exercising market power and deal with them individually.
Findings
Identification of major activities under MMS and effectiveness of new market indices have been established through quantitative analysis.
Practical implications
The MMS will provide in‐time warning signals and identify the suppliers taking maximum unfair advantage which needs intense scrutiny by monitoring unit.
Originality/value
Very few works have discussed detail market monitoring issues for the markets those are in their early stages of development like Indian electricity market. Indian Energy Exchange as a first power exchange in India became operative from June 2008, therefore, it is very important to develop an effective MMS.
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Jing Huang, Ruoyu Yu, Shengxiong Wen, Zelin Tong and Nan Zhou
It is unattainable that entrepreneurs engage equivalent resources in public and private morality because of the limitation of resources. This study aims to conduct experiments to…
Abstract
Purpose
It is unattainable that entrepreneurs engage equivalent resources in public and private morality because of the limitation of resources. This study aims to conduct experiments to test how entrepreneurial deviation in morality affects legitimacy perception of consumers to entrepreneurs.
Design/methodology/approach
This study conducted secondary data analysis and experiment to test how entrepreneurial deviation in morality affects legitimacy perception of consumers to entrepreneurs.
Findings
The experimental results show that entrepreneurial deviation in morality negatively affects legitimacy perceptions of consumers to entrepreneurs. Specifically, when public moral is higher than private moral, consumers have negative perceptions of pragmatic legitimacy to entrepreneurs, because consumers perceive deviation behaviors disobey the norm “Li”. However, entrepreneurial private morality excels public morality, consumers have negative perceptions of social legitimacy to entrepreneurs because consumers perceive deviation behaviors disobey the norm “Qing”. Moreover, the authors examined entrepreneurial values moderate the effects of moral deviation and legitimacy perceptions.
Originality/value
This study expands the ethical marketing of entrepreneurs from the perspective of the deviation between public morality and private morality.
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Gu Xin, Xiao-Ri Liu, Dong-Kang Cheng, Qing-Ping Zheng, Meng-Han Li, Nan-Nan Sun and Chun-Hua Min
This paper aims to investigate the effect of lubricant viscosity model with improver on friction and lubrication of piston skirt-cylinder liner conjunction.
Abstract
Purpose
This paper aims to investigate the effect of lubricant viscosity model with improver on friction and lubrication of piston skirt-cylinder liner conjunction.
Design/methodology/approach
A dynamic calculation model is established for the piston skirt-cylinder liner conjunction of a heavy-duty commercial diesel engine, to explore the effects of two kinds of lube oil viscosity models named after polyalkyle-metacrylate-1 (PAMA1) and styrene-isoprene-copolymer (SICP) improvers on the maximum oil film viscosity, the minimum oil film thickness, the peak oil film pressure, the maximum shear rate, the friction force and the total friction power loss.
Findings
The variation trends with the crank angle of the above parameters are not changed with the difference of improvers, while obvious numerical differences are found except the maximum oil film pressure. The minimum oil film thickness and maximum shear rate of PAMA1 are larger than that of SICP, the maximum oil film viscosity of SICP is larger than that of PAMA1, which indicates that the shear-thinning effect of PAMA1 is greater, the maximum friction force on the piston of SICP is larger than that of PAMA1, and the total friction power consumption is also larger, the average friction power consumptions of SICP and PAMA1 are 385.4 and 262.8 W, respectively, with the relative difference of 31.8 per cent.
Originality/value
The influence of different lubricating oil additive models on the lubrication and friction of piston skirt-cylinder liner conjunction is simulated and analyzed.
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Jinsong Luo, Ligong Zhang, Haigui Yang, Nan Zhang, Yongfu Zhu, Xingyuan Liu and Qing Jiang
This paper aims to study the oxidation kinetics of the nanocrystalline Al ultrathin films. The influence of structure and composition evolution during thermal oxidation will be…
Abstract
Purpose
This paper aims to study the oxidation kinetics of the nanocrystalline Al ultrathin films. The influence of structure and composition evolution during thermal oxidation will be observed. The reason for the change in the oxidation activation energy on increasing the oxidation temperature will be discussed.
Design/methodology/approach
Al thin films are deposited on the silicon wafers as substrates by vacuumed thermal evaporation under the base pressure of 2 × 10−4 Pa, where the substrates are not heated. A crystalline quartz sensor is used to monitor the film thickness. The film thickness varies in the range from 30 to 100 nm. To keep the silicon substrate from oxidation during thermal oxidation of the Al film, a 50-nm gold film was deposited on the back side of silicon substrate. Isothermal oxidation studies of the Al film were carried out in air to assess the oxidation kinetics at 400-600°C.
Findings
The activation energy is positive and low for the low temperature oxidation, but it becomes apparently negative at higher temperatures. The oxide grains are nano-sized, and γ-Al2O3 crystals are formed at above 500°C. In light of the model by Davies, the grain boundary diffusion is believed to be the reason for the logarithmic oxidation rate rule. The negative activation energy at higher temperatures is apparent, which comes from the decline of diffusion paths due to the formation of the γ-Al2O3 crystals.
Originality/value
It is found that the oxidation kinetics of nanocrystalline Al thin films in air at 400-600°C follows the logarithmic law, and this logarithmic oxidation rate law is related to the grain boundary diffusion. The negative activation energies in the higher temperature range can be attributed to the formation of γ-Al2O3 crystal.
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Nan Liu, Rui Zhou, Ruoyu Jin, Qing Xiao and Zhipeng Hu
The purpose of this paper is to summarize the research of construction conflict from 1991 to 2020 and propose research directions for future scholarly work. During the recent…
Abstract
Purpose
The purpose of this paper is to summarize the research of construction conflict from 1991 to 2020 and propose research directions for future scholarly work. During the recent decades, it is widely accepted that construction conflict is inevitable, and conflict management has become an important component of project management. However, few works were done to map the global study in this field, there is limited review that evaluates the current stage of construction conflict research.
Design/methodology/approach
This study adopted a holistic literature review approach that incorporates bibliometric search and scientometric analysis. A total of 698 bibliographic records from the Web of Science core collection database were collected for the scientometric analysis. CiteSpace5.7 was adopted for the science mapping purpose in this study.
Findings
Through co-authorship analysis, co-word analysis and co-citation analysis, influential scholars and journals are identified. Several research trends are highlighted according to the scientometric analyses of the construction conflict topics. For example, the application of simulation and algorithms to the study of construction conflict management systems.
Practical implications
Construction is a resource-intensive, multi-participant and multi-targeted industry. Conflicts always exist in the whole life cycle of construction projects, it is important for industry practitioners to be updated of the latest movement and progress of the academic research.
Originality/value
This study contributed to the body of knowledge in construction conflict and bridge the research gap in the thorough review of previous research work.
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In this chapter, the author compares two representations of the child from two famous films by the Fifth Generation’s top director in China, Chen Kaige, Yellow Earth (1984) and…
Abstract
In this chapter, the author compares two representations of the child from two famous films by the Fifth Generation’s top director in China, Chen Kaige, Yellow Earth (1984) and Together (2002). The girl’s story in the former and the boy’s story in the latter show respectively the dissolution of the Party/state as an extended family home, and it being replaced by the atomized, fluid, and flexible family home in the new state-led neo-liberal order. Compared with the girl, the boy in the new century tries to convey an equally lyrical articulation of the family/home, but differently, with a strong sense of his subjectivity. Thus, the boy’s voice in Together, self-reflective, artistically innovative, and affective, becomes a voice of resistance against authoritarian neoliberalism in post-socialist China.
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Shan Liu, Shiqian Guan, Qing Zhu and Chao Fang
This study aims to explore how relational and contractual governance affect crowdsourcer satisfaction under boundary conditions, including internal (i.e. task complexity) or…
Abstract
Purpose
This study aims to explore how relational and contractual governance affect crowdsourcer satisfaction under boundary conditions, including internal (i.e. task complexity) or external (i.e. environmental complexity) factors.
Design/methodology/approach
We empirically validate the hypotheses using survey data collected from 255 crowdsourcers on a leading platform (i.e. Zhubajie.com). Partial least squares technique and hierarchical regression analysis are used to test the research model.
Findings
Both forms of governance mechanisms positively affect crowdsourcer satisfaction. Task complexity negatively moderates the linkage of relational governance and crowdsourcer satisfaction. However, environmental complexity weakens the positive effect of contractual governance but enhances the effect of relational governance on satisfaction.
Originality/value
This study deepens the current understanding of governance mechanism in crowdsourcing by discovering the effectiveness of contractual and relational governance. We also contribute to the governance and crowdsourcing literature by revealing the mechanisms of how governance takes effect under task and environmental complexities.
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Guojun Wang and Xing Su
During the early 1970s, faced with the serious demographic situation, China began to fully implement the policy of family planning in urban and rural regions. Nowadays, the…
Abstract
Purpose
During the early 1970s, faced with the serious demographic situation, China began to fully implement the policy of family planning in urban and rural regions. Nowadays, the problems of pension and medical care for aged parents confronted by the first generation of the one‐child family have begun to gradually appear. Meanwhile, China's population and the family planning are also faced with some problems that are difficult to solve, including unbalanced fertility rate of urban and rural population, the gender imbalance, the difficulty of the risk diversification in a one‐child family, as well as the profound contradiction between the stability of the family planning policy and the drive of administrative measures. Therefore, it is necessary to establish the integrated‐scheduled life security system of the one‐child family in urban and rural areas, in order to overcome the problems and to promote the transformation of the family planning policy. The purpose of this paper is to discuss the life security system for China's one‐child families.
Design/methodology/approach
The life security system for the one‐child family proposed by this paper consists of three issues: the basic security based on the level of social security, the additional security of the policy insurance and the supplementary security of the commercial insurance. The paper begins with the history of the family planning policy in the first section and then go through some relevant articles regarding complementary measures such as maternity insurance, rural endowment insurance that only focused on one aspect of issues associated with the family planning. In section three, four typical problems are listed for the purpose of following discussion of corresponding solutions which are full of deficiency in section four. In part five, the integrated planning of the life security system for Chinese one‐child family is elaborated with risk and fund management. In the last part, we conclude that the family planning policy maintains stable, whereas measures to be taken are adjusted along with changeable new problems.
Findings
The policy insurance plays an increasingly important role in dealing with the life security of older people in one‐child families. It may be better to promote the kind of insurance.
Originality/value
The paper comprehensively discusses the life security system for Chinese families in compliance with the family planning policy.