William Fri, Tobias Pehrsson and Klaus Søilen
Both Volvo and SAAB are now Chinese owned car companies. This means that a substantial amount of Swedish innovation takes place in China. In order to understand this phenomenon…
Abstract
Both Volvo and SAAB are now Chinese owned car companies. This means that a substantial amount of Swedish innovation takes place in China. In order to understand this phenomenon better and what it means to innovation strategy we look at how industrial clusters in the automobile industry in different phases of development differ. The Diamond Model is used to explain and measure the competitive situation in three cluster regions in China. The new automobile manufacturing clusters of Chongqing and Chengdu (2C) is compared with two well-developed clusters in Shanghai and Jiangsu, and Beijing and Hebei. Although Shanghai is the most attractive automobile cluster, automobile manufacturing firms choose to locate their production in other regions. The move is also related to the level of innovation in different regions.
There are over fifty Faculty, Departmental, and Special Libraries in the University of Cambridge and, as may be imagined, the functions of these libraries vary greatly. There are…
Abstract
There are over fifty Faculty, Departmental, and Special Libraries in the University of Cambridge and, as may be imagined, the functions of these libraries vary greatly. There are roughly speaking three main types. The main purpose of the first group is to make books available to undergraduates who are reading for Tripos and other examinations, while that of the second group is to supply the needs of the teaching staff and of research. The third group of libraries caters for the needs of the teaching staff, of research students, and of examination students. It must be borne in mind that this grouping is purely arbitrary, and the reader will find that scientific libraries are in many cases seeking to cater for undergraduates as well as for those engaged in research.
Bishal B.C., Weiwei Wang, Ayfer Gurun and William Cready
For this study, the authors document day-of-the-week trading patterns of individual investors using a unique data set of NYSE-listed firms and discuss their influence on the…
Abstract
Purpose
For this study, the authors document day-of-the-week trading patterns of individual investors using a unique data set of NYSE-listed firms and discuss their influence on the Monday effect. It is found that Monday stock returns are generally lower than those of other weekdays and, on average, negative. Unlike previous researchers, the authors use actual trading data for individual investors rather than proxies to measure individual investor activity, such as the percentage of odd-lot trading. The results demonstrate that the trading activity of individual investors on Mondays is lower than previously documented. This finding contradicts the long-held belief that individual investors are most active on Mondays. In addition, the authors find that individual investors’ trading activity during the week broadly follows corporate announcement patterns. The least amount of firm-specific information is released on Friday, followed by Monday, Tuesday, Thursday and Wednesday. Accordingly, individual investors trade the least number of shares on Friday, followed by Monday, Tuesday, Thursday and Wednesday, strengthening the argument that individual investors trade on attention-grabbing stocks. Taken together, the authors’ findings challenge those of previous studies that hold individual investors responsible for the Monday effect. The paper aims to discuss this issue.
Design/methodology/approach
The authors use actual trading data for individual investors rather than proxies to measure individual investor activity, such as the percentage of odd-lot trading, to study the existence of Monday effect in stock prices.
Findings
The results show that the trading activity of individual investors on Mondays is lower than previously documented. This finding contradicts the long-held belief that individual investors are most active on Mondays. In addition, the authors find that individual investors’ trading activity during the week broadly follows corporate announcement patterns.
Research limitations/implications
The authors find that individual investors’ trading activity during the week broadly follows corporate announcement patterns. The least amount of firm-specific information is released on Friday, followed by Monday. Accordingly, individual investors trade the least number of shares on Friday, followed by Monday, strengthening the argument that individual investors trade on attention-grabbing stocks. Taken together, the authors’ findings challenge those of previous studies that hold individual investors responsible for the Monday effect.
Practical implications
Financial advisors.
Originality/value
The authors find that individual investors’ trading activity during the week broadly follows corporate announcement patterns. The authors challenge the commonly hold view that individuals often make trading decisions during weekends and thus trade on Mondays, and find that the least amount of firm-specific information is released on Friday, followed by Monday. Accordingly, individual investors trade the least number of shares on Friday, followed by Monday. Taken together, the authors’ findings challenge those of previous studies that hold individual investors responsible for the Monday effect.
Details
Keywords
Salmi Mohd Isa and Lizana Ramli
To establish tourist visitation to new tourism areas is in most cases dependent on tourists' behavior. Indeed, tourist visitation is considered among the primary components of the…
Abstract
Purpose
To establish tourist visitation to new tourism areas is in most cases dependent on tourists' behavior. Indeed, tourist visitation is considered among the primary components of the marine tourism operation. Such behavior is usually enacted in the form of destination awareness, destination image and motivation. Word of mouth is likely to influence tourist to visit. The purpose of this paper is to examine the factors that may influence tourists to visit marine tourist destinations.
Design/methodology/approach
The study has utilized self-administered questionnaire survey and the target population are the visitors that came to FRI Aquarium. The survey period was from August 2012 to September 2012. Total of 179 responses were collected during this period.
Findings
This study demonstrates that destination awareness, motivation and WOM are factors that influence the tourist to visit the FRI Aquarium. Interestingly, destination image however, has shown insignificant relationship with tourist visitation. WOM also found to be has a full mediating effect for awareness towards tourist visitation. For example, before visit, visitor may require some information beforehand and word of mouth is a direct medium to transfer the information. A key implication for FRI Aquarium is that it might be wise to assess such variables for their marketing strategies.
Research limitations/implications
First, the sample was obtained from one marine aquarium in Malaysia. The comparative studies between aquariums are important to understand if there are any similarities and differences. It would be better to conduct the survey in other local aquariums such as the Underwater World, Langkawi and the KL Aquaria, Kuala Lumpur. Second, a longitudinal study is relevant to further investigate the factors that will influence the visitor visitation. Thus, future study should gather data from those who had visited the aquarium several times. This approach might improve the destination image results, which in this study shows insignificant relationship. That said, acknowledgements of these limitations also suggest a new direction of future research.
Practical implications
FRI Aquarium is suggested to create more awareness to the public by placing an advertisement via mainstream and social media. Hence, FRI Aquarium is suggested to design environmentally marine life oriented educational programs in order to motivate and encourage more visitors to visit the place.
Originality/value
In sum, this paper conjectures that an understanding of factors that influence the tourist to visit the marine tourism destination are worthy of additional research. Consequently, the findings help to understand how these factors can provide alternative sources of marketing to attract the long-term economic sustainability of the FRI Aquarium in marine tourism.
Details
Keywords
Library and Information Services within the Organisation It is quite possible for some managers to be unaware of the extent or even the existence of a library or information…
Abstract
Library and Information Services within the Organisation It is quite possible for some managers to be unaware of the extent or even the existence of a library or information service within their organisation. This has become evident more than once at the beginning of both MBA and management development programmes where participants from the same organisation have been discussing access to information with the tutor. Manager “A” might know about the company library, being an occasional or frequent user; Manager “B” knows that there is a library but knows nothing of its services or its collection; Manager “C” is surprised to hear that there is a library. Arguably, managers within certain functions, notably marketing, are more likely than others to seek out and use information services within the organisation as they need more information concerning the “external environment”. Nonetheless during these discussions managers from all functions have expressed an interest in the available information services when they are told of their existence. At the end of the sessions, when they have been introduced to the management literature, there is often a determination not only to use the organisation's own library but to take an active part in selecting and requesting information sources.
In a recent reference to changes brought about by the local government reorganisation of 1974, we criticised some of the names given to the new areas. Some of these name changes…
Abstract
In a recent reference to changes brought about by the local government reorganisation of 1974, we criticised some of the names given to the new areas. Some of these name changes have made difficulties for those who follow from afar the doings of local authorities, as well as raising the ire of local people. Local names, however, are not the only casualty. The creation of new and larger governmental organisations rarely, if ever, results in economy and as anticipated, it was not long before the new local authorities were being directed to embrace financial stringency and all that it incurs. One such other casualty has been the loss of so many of the annual reports of local authority departments, very few now arriving at BFJ offices. In every case, the reason has been the same—severe restrictions on spending. Not that this was not necessary in many fields, but in respect of annual reports, we are convinced it was false economy. For so many of the reports, it was our pleasure to review them in the pages of BFJ. A prominent Labour politician was once heard to refer to them as “hard and dry reports for hard and dry officials”. It all depends probably on what you are looking for in them. Statistics there must be but most enforcement officers and public analysts, endeavour to keep these to the minimum, the general impression being that these are “dry”. If you are looking for trends, for comparison of the year under review with preceding years and then for comparing the results reported in one part of the country with another, where the population, eating habits, consumer reactions may be different, the tables of statistics are highly important.
April WED.1—FRI.3 Aslib Chemical Group Course: Basic Chemistry. Courland Grove Hall, Wandsworth, SW8.
Miss Aimée Chilton, Senior Lecturer‐in‐Charge of Data processing Facilities at Birmingham College of Commerce, will lecture on the computer, beginning at 3 o'clock on Thursday…
Abstract
Miss Aimée Chilton, Senior Lecturer‐in‐Charge of Data processing Facilities at Birmingham College of Commerce, will lecture on the computer, beginning at 3 o'clock on Thursday 21st March, at the Royal Aeronautical Society, 4 Hamilton Place, London W1 (nearest tube station is Hyde Park Corner; buses: Piccadilly, Knightsbridge or Park Lane).