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Article
Publication date: 19 August 2013

Jia LIU, Yumin Zhang, Lei Guo and Xiaoying Gao

A full-order multi-objective anti-disturbance robust filter for SINS/GPS navigation systems with multiple disturbances is designed. Generally, the unmodeled dynamics, the external…

345

Abstract

Purpose

A full-order multi-objective anti-disturbance robust filter for SINS/GPS navigation systems with multiple disturbances is designed. Generally, the unmodeled dynamics, the external environmental disturbance and the inertial apparatus random drift may exist simultaneously in an integrated navigation system, which can be classified into three type of disturbances, that is, the Gaussian noise, the norm bounded noise and the time correlated noise. In most classical studies, the disturbances in integrated navigation systems are classified as Gaussian noises or norm bounded noises, where the Kalman filtering or robust filtering can be employed, respectively. While it is not true actually, such assumptions may lead to conservative results. The paper aims to discuss these issues.

Design/methodology/approach

The Gaussian noises, the norm bounded noises and the time correlated noises in the integrated navigation system are considered simultaneously in this contribution. As a result, the time correlated noises are augmented as a part of system state of the integrated navigation system error model, the relative integrated navigation problem can be transformed into a full-order multi-objective robust filter design problem for systems with Gaussian noises and norm bounded disturbances. Certainly, the errors of the time correlated noises are estimated and compensated for high precision navigation purpose. Sufficient conditions for the existence of the proposed filter are presented in terms of linear matrix inequalities (LMIs) such that the system stability is guaranteed and the disturbance attenuation performance is achieved.

Findings

Simulations for SINS/GPS integrated navigation system given show that the proposed full-order multi-objective anti-disturbance filter, has stronger robustness and better precision when multiple disturbances exist, that is, the present algorithm not only can suppression the effect of white noises and norm bounded disturbance but also can estimate and compensate the modeled disturbance.

Originality/value

The proposed algorithm has stronger anti-disturbance ability for integrated navigation with multiple disturbances. In fact, there exist multiple disturbances in integrated navigation system, so the proposed scheme has important significance in applications.

Details

International Journal of Intelligent Computing and Cybernetics, vol. 6 no. 3
Type: Research Article
ISSN: 1756-378X

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Article
Publication date: 23 June 2020

Xiaoying Chen and Nicholas Ray-Wang Gao

Since the introduction of VIX to measure the spot volatility in the stock market, VIX and its futures have been widely considered to be the standard of underlying investor…

433

Abstract

Purpose

Since the introduction of VIX to measure the spot volatility in the stock market, VIX and its futures have been widely considered to be the standard of underlying investor sentiment. This study aims to examine how the magnitude of contango or backwardation (MCB volatility risk factor) derived from VIX and VIX3M may affect the pricing of assets.

Design/methodology/approach

This paper focuses on the statistical inference of three defined MCB risk factors when cross-examined with Fama–French’s five factors: the market factor Rm–Rf, the size factor SMB (small minus big), the value factor HML (high minus low B/M), the profitability factor RMW (robust minus weak) and the investing factor CMA (conservative minus aggressive). Robustness checks are performed with the revised HML-Dev factor, as well as with daily data sets.

Findings

The inclusions of the MCB volatility risk factor, either defined as a spread of monthly VIX3M/VIX and its monthly MA(20), or as a monthly net return of VIX3M/VIX, generally enhance the explanatory power of all factors in the Fama and French’s model, in particular the market factor Rm–Rf and the value factor HML, and the investing factor CMA also displays a significant and positive correlation with the MCB risk factor. When the more in-time adjusted HML-Dev factor, suggested by Asness (2014), replaces the original HML factor, results are generally better and more intuitive, with a higher R2 for the market factor and more explanatory power with HML-Dev.

Originality/value

This paper introduces the term structure of VIX to Fama–French’s asset pricing model. The MCB risk factor identifies underlying configurations of investor sentiment. The sensitivities to this timing indicator will significantly relate to returns across individual stocks or portfolios.

Details

The Journal of Risk Finance, vol. 21 no. 3
Type: Research Article
ISSN: 1526-5943

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Article
Publication date: 19 September 2023

Xiaoying Li, Xiujuan Jin, Heng Li, Lulu Gong and Deyang Zhou

Considering the substantial benefits derived from the use of Building Information Modeling (BIM) in construction projects, governments and its related sectors have introduced…

245

Abstract

Purpose

Considering the substantial benefits derived from the use of Building Information Modeling (BIM) in construction projects, governments and its related sectors have introduced mandatory policies requiring the use of BIM. However, little is known about the impact of mandatory policies on BIM-based project performance. Therefore, the purpose of this paper is to provide a systematical understanding on the impact of policy interventions on the implementation practice of innovative technologies.

Design/methodology/approach

This paper utilizes the propensity score matching and difference in differences (PSM-DID) method to investigate the impact of policy interventions on BIM-based project performance. Using the panel data collected from 2015 to 2021 in the Hong Kong construction industry, this paper explores the impact of the first mandatory BIM policy on the BIM-based project performance of three key stakeholders.

Findings

The subjective BIM performance and BIM return on investment (ROI) have significantly improved after implementing the mandatory BIM policy. The promotion effect of mandatory BIM policy on BIM-based project performance gradually increases over time. Moreover, the promotion effect of mandatory BIM policy on BIM performance shows significant heterogeneity for different stakeholders and organizations of different sizes.

Originality/value

This study examined the impact of policy interventions on BIM-based project performance. The research findings can provide a holistic understanding of the potential implications of innovative mandatory policy in performance improvement and offer some constructive suggestions to policymakers and industry practitioners to promote the penetration of BIM in the construction industry.

Details

Engineering, Construction and Architectural Management, vol. 32 no. 2
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 7 February 2018

Xiaoying Zheng, Ernest Baskin and Siqing Peng

This paper aims to examine whether social comparison in a prior, nonconsumption circumstance (e.g. in an academic setting) affects consumers’ materialism and subsequent spending…

2320

Abstract

Purpose

This paper aims to examine whether social comparison in a prior, nonconsumption circumstance (e.g. in an academic setting) affects consumers’ materialism and subsequent spending propensity, and explores the incidental feeling of envy as the underlying mechanism.

Design/methodology/approach

Four experiments have been conducted to test these hypotheses. Study 1 manipulated social comparison in an academic domain, and measured undergraduate students’ materialism after they compared themselves to a superior student or to an inferior student. Study 2 used a recall task to manipulate social comparison and examine the mediating role of envy. Study 3 examined which of the two types of envy (benign or malicious) affected materialism. Study 4 examined the downstream consequences on spending propensity in both public and private consumption contexts.

Findings

The results suggest that consumers place greater importance on material goods and are more likely to spend money on publicly visible products after making upward social comparisons than after making downward social comparisons or no comparisons. Furthermore, envy acts as the mediator for the observed effect of incidental social comparison on materialism.

Originality/value

First, this study improves our understanding of the consequences of social comparison and envy by demonstrating that incidental envy (both benign and malicious) experienced in a prior, unrelated social comparison can motivate materialistic pursuits. Second, the present research contributes to the compensatory consumption literature by revealing that, in a social comparison context, envy is the affective underpinning that gives rise to the motivation to engage in compensatory consumer behavior. Third, the findings also enrich materialism research by exploring an important situational antecedent in driving materialistic orientation.

Details

European Journal of Marketing, vol. 52 no. 5/6
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 26 December 2024

Zhenkuo Ding, Xiaoying Yang, Sheng Huang and Xiaohua Ouyang

The aim of this paper is to investigate (1) whether the different dimensions of internationalization experience have different effects on internationalization speed? (2) And how…

61

Abstract

Purpose

The aim of this paper is to investigate (1) whether the different dimensions of internationalization experience have different effects on internationalization speed? (2) And how the degree of digitalization plays a moderating role in these relationships?

Design/methodology/approach

The authors test the hypotheses on a sample of 431 Chinese listed companies export data from 2007 to 2016, using multiple regression analysis.

Findings

The international expansion experience to developed economies will accelerate the internationalization speed of MNCs, while international expansion experience to emerging economies has an inverted U-shaped relationship with internationalization speed. The digitalization degree weakens the relationship between international experience and internationalization speed, whether it is international expansion experience to developed or emerging economies.

Originality/value

By decomposing the dimensions of international experience and considering the degree of digitalization as a new moderating variable, the paper helps to clarify the debate on the relationship between international experience and speed of internationalization, thus contributing to the internationalization speed literature and the digital technology perspective. Revealing the process of international experience affecting internationalization speed has implications for MNCs to achieve high-quality and rapid internationalization.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 21 February 2024

Xiaoying Liu, Qamar Ali, Muhammad Rizwan Yaseen, Samuel Asumadu Sarkodie, Muhammad Sohail Amjad Makhdum and Muhammad Tariq Iqbal Khan

The Sustainable Development Goal (SDG) 16 outlines sustainability as associated with peace, good governance and justice. The perception of international tourists about security…

145

Abstract

Purpose

The Sustainable Development Goal (SDG) 16 outlines sustainability as associated with peace, good governance and justice. The perception of international tourists about security measures and risks is a key factor affecting destination choices, tourist flow and overall satisfaction. Thus, we investigate the impact of armed forces personnel, prices, economic stability, financial development and infrastructure on tourism.

Design/methodology/approach

This research used data from 130 countries from 1995 to 2019, which were divided into four income groups. This study employs a two-step generalized method of moments (GMM) technique and a novel tourism index comprising five relevant indicators of tourism.

Findings

A 1% increase in armed forces personnel expands tourism in all income groups – 0.369% High Income Countries (HICs), 0.348% Upper Middle Income Countries (UMICs), 0.247% Lower Middle Income Countries (LMICs) and 0.139% Low Income Countries (LICs). The size of the tourism-safety coefficient decreases from high to low-income groups. The impact of inflation is significantly negative in all panels, excluding LICs. The reduction in tourism was 0.033% in HICs, 0.049% in UMICs and 0.029% in LMICs for a 1% increase in prices. The increase in the global tourism index is more in LICs (0.055%), followed by LMICs (0.024%), UMICs (0.009%) and HICs (0.004%) for a 1% expansion in the gross domestic product (GDP)/capita growth. However, the magnitude of the growth-led tourism impact is greater in developing countries. A positive impact of foreign direct investment (FDI) inflow was found in all panels like 0.016% in HICs, 0.050% in UMICs and 0.119% in LMICs for a 1% increase in FDI inflow. The rise in the global tourism index is 0.097% (HICs), 0.124% (UMICs) and 0.310% (LMICs) for a 1% rise in the financial development index. The increase in the global tourism index is 0.487% (HICs), 0.420% (UMICs) and 0.136% (LICs) for a 1% rise in the infrastructure index.

Research limitations/implications

Empirical analysis infers important policy implications such as (a) establishment of a peaceful environment via recruitment of security personnel, use of safe city cameras, modern technology and law enforcement; (b) provision of basic facilities to tourists like sanitation, drinking water, electricity, accommodation, quality food, fuel and communication network and (c) price stability through different tools of monetary and fiscal policy.

Originality/value

First, it explains the effect of security personnel on a comprehensive index of tourism instead of a single variable of tourism. Second, it captures the importance of economic stability (i.e., economic growth, financial development and FDI inflow) in the tourism–peace nexus.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 2 January 2024

Xinyang Liu, Anyu Liu, Xiaoying Jiao and Zhen Liu

The purpose of the study is to investigate the impact of implementing anti-dumping duties on imported Australian wine to China in the short- and long-run, respectively.

366

Abstract

Purpose

The purpose of the study is to investigate the impact of implementing anti-dumping duties on imported Australian wine to China in the short- and long-run, respectively.

Design/methodology/approach

First, the Difference-in-Differences (DID) method is used in this study to evaluate the short-run causal effect of implementing anti-dumping duties on imported Australian wine to China. Second, a Bayesian ensemble method is used to predict 2023–2025 wine exports from Australia to China. The disparity between the forecasts and counterfactual prediction which assumes no anti-dumping duties represents the accumulated impact of the anti-dumping duties in the long run.

Findings

The anti-dumping duties resulted in a significant decline in red and rose, white and sparkling wine exports to China by 92.59%, 99.06% and 90.06%, respectively, in 2021. In the long run, wine exports to China are projected to continue this downward trend, with an average annual growth rate of −21.92%, −38.90% and −9.54% for the three types of wine, respectively. In contrast, the counterfactual prediction indicates an increase of 3.20%, 20.37% and 4.55% for the respective categories. Consequently, the policy intervention is expected to result in a decrease of 96.11%, 93.15% and 84.11% in red and rose, white and sparkling wine exports to China from 2021 to 2025.

Originality/value

The originality of this study lies in the creation of an economic paradigm for assessing policy impacts within the realm of wine economics. Methodologically, it also represents the pioneering application of the DID and Bayesian ensemble forecasting methods within the field of wine economics.

Details

International Journal of Contemporary Hospitality Management, vol. 36 no. 8
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 15 September 2023

Zengli Wang, Qingyang Wang, Muming Hao, Xiaoying Li and Kewei Liu

The purpose of this study is to investigate the sealing performance of S-CO2 dry gas seals (DGSs) by considering the effects of pressure-induced deformation, thermal deformation…

154

Abstract

Purpose

The purpose of this study is to investigate the sealing performance of S-CO2 dry gas seals (DGSs) by considering the effects of pressure-induced deformation, thermal deformation and coupling deformation.

Design/methodology/approach

A hydrodynamic lubrication flow model of S-CO2 DGS was established, and the model was solved using the finite difference and finite element methods. The pressure-induced deformation and thermal deformation of the sealing ring, as well as the sealing performance under the effects of pressure-induced deformation, thermal deformation and coupling deformation, were obtained.

Findings

The deformation of the sealing ring is mainly thermal deformation. The influence of pressure-induced deformation on leakage and gas film stiffness is greater than that of thermal deformation and coupling deformation. However, thermal deformation has a greater impact on friction torque and minimum film thickness than pressure-induced deformation and coupling deformation. The influence of deformations on sealing performance is important.

Originality/value

The sealing performance of S-CO2 DGSs was analyzed considering the effect of pressure-induced deformation, thermal deformation and coupling deformation, which can provide a theoretical basis for S-CO2 DGS optimization design.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-04-2023-0120/

Details

Industrial Lubrication and Tribology, vol. 75 no. 8
Type: Research Article
ISSN: 0036-8792

Keywords

Available. Open Access. Open Access
Article
Publication date: 14 October 2021

Fan Gao

Poverty alleviation has been a major theme of China's modernization process since the founding of New China. This paper points out that China's poverty alleviation process…

3032

Abstract

Purpose

Poverty alleviation has been a major theme of China's modernization process since the founding of New China. This paper points out that China's poverty alleviation process presents three stylized facts: “Miraculous” achievements of poverty alleviation have been made on a global scale; the poverty alleviation achievements mainly occurred in the high growth stage after reform and opening up; the poverty alleviation process is accompanied by the structural transformation of the urban–rural dual economy.

Design/methodology/approach

Therefore, a logically consistent analytical framework should form among the structural transformation of the dual economy, economic growth and the achievements in poverty alleviation. In logical deduction, the structural transformation of the dual economy affects rural poverty alleviation through the effects of labor reallocation, agricultural productivity improvement, demographic change and fiscal resource allocation.

Findings

The first two refer to economic growth, and the latter two are alleviation policies. The combination of economic growth and poverty alleviation policies is the main cause for poverty alleviation performance. China's empirical evidence can support the four effects by which the structural transformation of the dual economy affects poverty alleviation.

Originality/value

China's socialist system and its economic system transformation after reform and opening up provide an institutional basis for the effects to come into play. After 2020, China's poverty alleviation strategies will enter the “second-half” phase, namely, the phase of solving the problems of relative poverty in urban and rural areas by adopting conventional methods and establishing long-term mechanisms. This requires the facilitation of the reconnection between poverty alleviation strategies and the structural transformation of the dual economy in terms of development ideas and policy directions.

Available. Open Access. Open Access
Article
Publication date: 12 October 2021

Zheng Li and Siying Yang

A city is a spatial carrier of innovation activities. Improving the level of urban innovation can play a significant supporting role in building an innovative country. China began…

2074

Abstract

Purpose

A city is a spatial carrier of innovation activities. Improving the level of urban innovation can play a significant supporting role in building an innovative country. China began to implement the innovative city pilot policy in 2008 and continued to expand the policy into more areas for exploring the path of innovative urban development with Chinese characteristics and improving urban innovation.

Design/methodology/approach

Based on mechanism analysis, this paper used the panel data of 269 cities from 2003 to 2016 to empirically test the effect of the pilot policy on the level of urban innovation by using different methods, such as the difference-in-differences model.

Findings

The results show that the innovative city pilot policy significantly improves the level of urban innovation. However, according to the findings of the heterogeneity analysis, the effect of the pilot policy on improving the innovation level in direct-controlled municipalities, provincial capitals and sub-provincial cities is weaker than that in ordinary cities, and the effect of the pilot policy on improving the innovation level in cities with a higher quality of science and education resources is weaker than that in cities with lower quality of science and education resources.

Originality/value

Moreover, as the level of urban innovation increases, the effect of the pilot policy on improving the level of urban innovation is an asymmetric inverted V shape, which means the effect is first strengthened and then weakened. The research also finds that the locational heterogeneity of the pilot policy for improving the level of urban innovation is not notable. In addition, the innovative city pilot policy can strengthen the government's strategic guidance, promote the concentration of talent, incentivize corporate investment and optimize the innovation environment, having a positive impact on urban innovation. Moreover, the effect of concentration of talent and the effect of corporate investment incentive are the important reasons for the pilot policy to promote the improvement of the level of urban innovation.

Details

China Political Economy, vol. 4 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

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