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Article
Publication date: 17 August 2015

Ningning Pan and Hongquan Zhu

The purpose of this paper is to investigate how block trading and asymmetric information contribute to the firm-specific information measured by the stock return synchronicity…

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Abstract

Purpose

The purpose of this paper is to investigate how block trading and asymmetric information contribute to the firm-specific information measured by the stock return synchronicity. Based on China stock market which is dominated by individual investors, this study focus on whether traders of block trading, which are usually institutional investors, are “information trader.”

Design/methodology/approach

Based on the high frequency data, the paper constructs two measures of information asymmetry, intraday measure and inter-day measure. Then the paper constructs a multiple regression model and examine how block trading and information asymmetry contribute to the firm-specific information measured by the stock return synchronicity.

Findings

The results show that: on the one hand, block trading transmits more firm-specific information, and can reduce the synchronicity; on the other hand, when the degree of information asymmetry is higher, block trading contains more firm-specific information and has a stronger effect on synchronicity. The effect of information asymmetry specifically displays as: block trading during the first half-hour of the trading day has a stronger effect on synchronicity; and block trading occurred in the days with publicly announced trading information has greater impact on synchronicity.

Practical implications

The conclusions have important practical implications: for market regulators, monitoring for block trading can improve the recognition and prevention of insider trading; for individual investors, especially the risk aversion investors, recognition of intraday and inter-day information asymmetry is beneficial for them to avoid the risk of asymmetric information.

Originality/value

First, the domestic and foreign research mostly concentrated impact of block trading on stock prices. However, reasons of stock price changes include the information effect and non-information effect, this paper selects stock return synchronicity as firm-specific information measure, and mainly focus on the information effect of block trading. Second, based on the high frequency data, the paper constructs two measures of information asymmetry, intraday measure and inter-day measure. Compared with general measure of information asymmetry, such as firm size, earnings quality, the two measures based on high frequency data are more precisely.

Details

China Finance Review International, vol. 5 no. 3
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 6 May 2024

Suyun Liu, Hu Liu, Ningning Shao, Zhijun Dong, Rui Liu, Li Liu and Fuhui Wang

Polyaniline (PANI) has garnered attention for its potential applications in anticorrosion fields because of its unique properties. Satisfactory outcomes have been achieved when…

153

Abstract

Purpose

Polyaniline (PANI) has garnered attention for its potential applications in anticorrosion fields because of its unique properties. Satisfactory outcomes have been achieved when using PANI as a functional filler in organic coatings. More recently, research has extensively explored PANI-based organic coatings with self-healing properties. The purpose of this paper is to provide a summary of the active agents, methods and mechanisms involved in the self-healing of organic coatings.

Design/methodology/approach

This study uses specific doped acids and metal corrosion inhibitors as active and self-healing agents to modify PANI using the methods of oxidation polymerization, template synthesis, nanosheet carrier and nanocontainer loading methods. The anticorrosion performance of the coatings is evaluated using EIS, LEIS and salt spray tests.

Findings

Specific doped acids and metal corrosion inhibitors are used as active agents to modify PANI and confer self-healing properties to the coatings. The coatings’ active protection mechanism encompasses PANI’s own passivation ability, the adsorption of active agents and the creation of insoluble compounds or complexes.

Originality/value

This paper summarizes the active agents used to modify PANI, the procedures used for modification and the self-healing mechanism of the composite coatings. It also proposes future directions for developing PANI organic coatings with self-healing capabilities. The summaries and proposals presented may facilitate large-scale production of the PANI organic coatings, which exhibit outstanding anticorrosion competence and self-healing properties.

Details

Anti-Corrosion Methods and Materials, vol. 71 no. 4
Type: Research Article
ISSN: 0003-5599

Keywords

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Article
Publication date: 23 June 2022

Qingqing Lu, Weizhe Yang, Chuiri Zhou and Ningning Wang

This study aims to investigate whether the contract manufacturer (CM) should take the first-mover advantage in the end-product without supplying core components to the original…

223

Abstract

Purpose

This study aims to investigate whether the contract manufacturer (CM) should take the first-mover advantage in the end-product without supplying core components to the original equipment manufacturer (OEM) immediately, or should fully squeeze the benefit of the learning effect through an amplified production quantity by letting the OEM enter the end-product market early.

Design/methodology/approach

The authors propose a two-period model for a supply chain consisting of a CM and an OEM where the CM has four alternative entry strategies concerning it competition to the OEM in the end-product market. For each strategy, the authors derive the equilibrium solutions of the two firms using a backward approach. Comparison leads to the CM’s final choices among the four strategies.

Findings

For both CM and OEM, the monopoly and the first-entry strategies will be dominated by either the post-entry or the simultaneous-entry strategy, and thus, their preferred strategy is chosen from the latter two. Regarding the two firms choices between the post- and simultaneous-entry strategy, the CM prefers the post-entry strategy when the OEMs brand premium is at a moderate level, whereas the OEM prefers the post-entry strategy when its brand premium is low, and the learning effect can amplify the interval for the CMs adopting the post-entry strategy as well as changes the interval for the OEMs preference related to the two strategies.

Originality/value

This paper is the first one to explore the optimal strategy for a CM to maximize its profit in a co-opetitive supply chain situation with a CM and an OEM. The authors believe that our paper contributes to both literature and the market.

Details

Journal of Modelling in Management, vol. 18 no. 5
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 20 January 2022

Xiuheng Zhang, Ningning Hu, Tianchi Chen and Songquan Wang

This study aims to prevent the sharp decline in the load-carrying capacity of lubricating oil film under harsh conditions of abrupt changes in friction interface temperature…

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Abstract

Purpose

This study aims to prevent the sharp decline in the load-carrying capacity of lubricating oil film under harsh conditions of abrupt changes in friction interface temperature, which is a major challenge in lubrication technology.

Design/methodology/approach

In this paper, we synthesized a series of silver pyrazole methylpyridine complexes containing a high metal concentration and minimal supporting organic ligands (complex 1 [Ag(LMe)]2(BF4)2, complex 2 [Ag(Li-Pr)n](BF4)n and complex 3 [Ag(LMe)(NO3)]2). The thermal decompose behavior of as-prepared silver complex was investigated by thermogravimetric analysis and X-ray photoelectron spectrometry (XPS). Four-ball friction testers were used to evaluate the friction and wear properties of lubricating oil in the temperature ranges associated with the operation of modern heavy machinery.

Findings

The complex decomposed silver particles at high-temperature, which could fill the pits on the friction surface, change the wear form of the friction pair and reduce the roughness of the friction surface. Reduction in both friction coefficients and wear scar diameters was obtained by adding silver complexes in oil. The lubricating oil, with the additive content of 1.5 Wt.%, has the best tribological performance, moreover, the lubricating performance of the silver complexes in oil were correlated with their concentration and thermal decomposed temperatures, respectively.

Originality/value

As a result, a series of silver pyrazole methylpyridine complexes as oil additives can support friction and wear reduction under abrupt high-temperature conditions are intended to be a controllable backup lubricant additive.

Details

Industrial Lubrication and Tribology, vol. 74 no. 2
Type: Research Article
ISSN: 0036-8792

Keywords

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Article
Publication date: 4 November 2014

Ningning Kong, Tao Zhang and Ilana Stonebraker

The purpose of this paper is to establish common metrics for web-based mapping applications to facilitate user decision making and enhance information providers’ product design…

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Abstract

Purpose

The purpose of this paper is to establish common metrics for web-based mapping applications to facilitate user decision making and enhance information providers’ product design.

Design/methodology/approach

The metrics were developed from a combination of literature review and case studies. From the literature review, the authors identified three major areas of assessment for web-based mapping applications. The authors then studied six online applications to refine the metrics.

Findings

The results suggest that web-based mapping applications can be evaluated from three major aspects: data content, geographic information systems (GIS) functionality and usability. The authors have developed detailed measures for each factor through the evaluation of the six applications.

Practical implications

The metrics developed from this study could be used as a standard for online spatial information users to choose appropriate products according to their needs. It can also provide valuable information for data providers to improve their products.

Originality/value

To the best of the authors’ knowledge, this is the first study that has systematically examined web-based mapping applications in academic libraries. Results from this study could be a valuable tool for librarians as well as general information users without background of GIS and usability to evaluate online mapping resources.

Details

Online Information Review, vol. 38 no. 7
Type: Research Article
ISSN: 1468-4527

Keywords

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Article
Publication date: 17 December 2018

A. Vivek, K. Shambavi and Zachariah C. Alex

This paper aims to focus on research work related to metamaterial-based sensors for material characterization that have been developed for past ten years. A decade of research on…

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Abstract

Purpose

This paper aims to focus on research work related to metamaterial-based sensors for material characterization that have been developed for past ten years. A decade of research on metamaterial for sensing application has led to the advancement of compact and improved sensors.

Design/methodology/approach

In this study, relevant research papers on metamaterial sensors for material characterization published in reputed journals during the period 2007-2018 were reviewed, particularly focusing on shape, size and nature of materials characterized. Each sensor with its design and performance parameters have been summarized and discussed here.

Findings

As metamaterial structures are excited by electromagnetic wave interaction, sensing application throughout electromagnetic spectrum is possible. Recent advancement in fabrication techniques and improvement in metamaterial structures have led to the development of compact, label free and reversible sensors with high sensitivity.

Originality/value

The paper provides useful information on the development of metamaterial sensors for material characterization.

Details

Sensor Review, vol. 39 no. 3
Type: Research Article
ISSN: 0260-2288

Keywords

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