Tun-Ya Yang, Si-Yuan Huang, Wei-Che Tsai and Pei-Shih Weng
This paper aims to investigate the impact of day trading on market quality on the Taiwan stock market with the implementation of a unique policy change. This paper examines 396…
Abstract
This paper aims to investigate the impact of day trading on market quality on the Taiwan stock market with the implementation of a unique policy change. This paper examines 396 listed stocks from June 2015 to October 2016, a period when the stock market in Taiwan officially approved selected stocks for day trading for all investors. Within the sample period, the empirical findings show that day trading increases the bid–ask spread, price depth and stock volatility, indicating that day trading activities not only cause higher transaction costs and trading risk but also raise the market’s ability to absorb price impact. This paper considers two-stage regression and tests the exogenous shock because of further relaxation for day trading to deal with the possible endogenous problem and the main findings remain consistent. Since early 2014, the Taiwan stock market has been experiencing a distinct growth in trading volume after unwinding the day trading; however, the results show that the impacts of stock day trading on market quality are not all positive.
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Jun Sik Kim and Sol Kim
This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications…
Abstract
This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.
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Haohan Sun and Si Yuan
An improved adaptive finite element analysis based on local error estimate is proposed via the element energy projection (EEP) technique. This paper aims to discuss the…
Abstract
Purpose
An improved adaptive finite element analysis based on local error estimate is proposed via the element energy projection (EEP) technique. This paper aims to discuss the aforementioned idea.
Design/methodology/approach
The computational region for a posteriori error estimation based on EEP method is further confined to a critical set of local elements generated in the previous adaptive step, enhancing efficiency while maintaining accuracy. The adaptive procedure incorporated with hierarchical mesh refinement is then developed.
Findings
The effectiveness of the improved error estimation of the overall adaptive analysis is confirmed by several benchmark examples. The results show that the shrinkage of the local computational region has little negative influence on the accuracy of a posteriori error estimation, thus yielding an improved adaptive procedure with simplified logic and reduced cost.
Originality/value
By localizing the computational region for error estimation, two crucial but cumbersome tricks, i.e. treatments of virtual elements and hanging nodes, are removed, giving the proposed approach full clarity and flexibility. The improved adaptive procedure characterizes simpler and faster computational algorithm and can produce results with required accuracy measured in maximum norm.
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Beikun Zhang and Liyun Xu
The increasing energy shortage leads to worldwide attentions. This paper aims to develop a mathematical model and optimization algorithm to solve the energy-oriented U-shaped…
Abstract
Purpose
The increasing energy shortage leads to worldwide attentions. This paper aims to develop a mathematical model and optimization algorithm to solve the energy-oriented U-shaped assembly line balancing problem. Different from most existing works, the energy consumption is set as a major objective.
Design/methodology/approach
An improved flower pollination algorithm (IFPA) is designed to solve the problem. The random key encoding mechanism is used to map the continuous algorithm into discrete problem. The pollination rules are modified to enhance the information exchange between individuals. Variable neighborhood search (VNS) is used to improve the algorithm performance.
Findings
The experimental results show that the two objectives are in conflict with each other. The proposed methodology can help manager obtain the counterbalance between them, for the larger size balancing problems, and the reduction in objectives is even more significant. Besides, the experiment results also show the high efficiency of the proposed IFPA and VNS.
Originality/value
The main contributions of this work are twofold. First, a mathematical model for the U-shaped assembly line balancing problem is developed and the model is dual foci including minimized SI and energy consumption. Second, an IFPA is proposed to solve the problem.
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Weijia Lu, Chengxi Zhang, Fei Liu, Jin Wu, Jihe Wang and Lining Tan
This paper aims to investigate the relative translational control for multiple spacecraft formation flying. This paper proposes an engineering-friendly, structurally simple, fast…
Abstract
Purpose
This paper aims to investigate the relative translational control for multiple spacecraft formation flying. This paper proposes an engineering-friendly, structurally simple, fast and model-free control algorithm.
Design/methodology/approach
This paper proposes a tanh-type self-learning control (SLC) approach with variable learning intensity (VLI) to guarantee global convergence of the tracking error. This control algorithm utilizes the controller's previous control information in addition to the current system state information and avoids complicating the control structure.
Findings
The proposed approach is model-free and can obtain the control law without accurate modeling of the spacecraft formation dynamics. The tanh function can tune the magnitude of the learning intensity to reduce the control saturation behavior when the tracking error is large.
Practical implications
This algorithm is model-free, robust to perturbations such as disturbances and system uncertainties, and has a simple structure that is very conducive to engineering applications.
Originality/value
This paper verified the control performance of the proposed algorithm for spacecraft formation in the presence of disturbances by simulation and achieved high steady-state accuracy and response speed over comparisons.
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Zhishuo Liu, Qianhui Shen, Jingmiao Ma and Ziqi Dong
This paper aims to extract the comment targets in Chinese online shopping platform.
Abstract
Purpose
This paper aims to extract the comment targets in Chinese online shopping platform.
Design/methodology/approach
The authors first collect the comment texts, word segmentation, part-of-speech (POS) tagging and extracted feature words twice. Then they cluster the evaluation sentence and find the association rules between the evaluation words and the evaluation object. At the same time, they establish the association rule table. Finally, the authors can mine the evaluation object of comment sentence according to the evaluation word and the association rule table. At last, they obtain comment data from Taobao and demonstrate that the method proposed in this paper is effective by experiment.
Findings
The extracting comment target method the authors proposed in this paper is effective.
Research limitations/implications
First, the study object of extracting implicit features is review clauses, and not considering the context information, which may affect the accuracy of the feature excavation to a certain degree. Second, when extracting feature words, the low-frequency feature words are not considered, but some low-frequency feature words also contain effective information.
Practical implications
Because of the mass online reviews data, reading every comment one by one is impossible. Therefore, it is important that research on handling product comments and present useful or interest comments for clients.
Originality/value
The extracting comment target method the authors proposed in this paper is effective.