Search results
1 – 10 of over 25000Bingzi Jin and Xiaojie Xu
The purpose of this study is to make property price forecasts for the Chinese housing market that has grown rapidly in the last 10 years, which is an important concern for both…
Abstract
Purpose
The purpose of this study is to make property price forecasts for the Chinese housing market that has grown rapidly in the last 10 years, which is an important concern for both government and investors.
Design/methodology/approach
This study examines Gaussian process regressions with different kernels and basis functions for monthly pre-owned housing price index estimates for ten major Chinese cities from March 2012 to May 2020. The authors do this by using Bayesian optimizations and cross-validation.
Findings
The ten price indices from June 2019 to May 2020 are accurately predicted out-of-sample by the established models, which have relative root mean square errors ranging from 0.0458% to 0.3035% and correlation coefficients ranging from 93.9160% to 99.9653%.
Originality/value
The results might be applied separately or in conjunction with other forecasts to develop hypotheses regarding the patterns in the pre-owned residential real estate price index and conduct further policy research.
Details
Keywords
Xiaojie Xu and Yun Zhang
Forecasts of commodity prices are vital issues to market participants and policy makers. Those of corn are of no exception, considering its strategic importance. In the present…
Abstract
Purpose
Forecasts of commodity prices are vital issues to market participants and policy makers. Those of corn are of no exception, considering its strategic importance. In the present study, the authors assess the forecast problem for the weekly wholesale price index of yellow corn in China during January 1, 2010–January 10, 2020 period.
Design/methodology/approach
The authors employ the nonlinear auto-regressive neural network as the forecast tool and evaluate forecast performance of different model settings over algorithms, delays, hidden neurons and data splitting ratios in arriving at the final model.
Findings
The final model is relatively simple and leads to accurate and stable results. Particularly, it generates relative root mean square errors of 1.05%, 1.08% and 1.03% for training, validation and testing, respectively.
Originality/value
Through the analysis, the study shows usefulness of the neural network technique for commodity price forecasts. The results might serve as technical forecasts on a standalone basis or be combined with other fundamental forecasts for perspectives of price trends and corresponding policy analysis.
Details
Keywords
Bingzi Jin and Xiaojie Xu
Agriculture commodity price forecasts have long been important for a variety of market players. The study we conducted aims to address this difficulty by examining the weekly…
Abstract
Purpose
Agriculture commodity price forecasts have long been important for a variety of market players. The study we conducted aims to address this difficulty by examining the weekly wholesale price index of green grams in the Chinese market. The index covers a ten-year period, from January 1, 2010, to January 3, 2020, and has significant economic implications.
Design/methodology/approach
In order to address the nonlinear patterns present in the price time series, we investigate the nonlinear auto-regressive neural network as the forecast model. This modeling technique is able to combine a variety of basic nonlinear functions to approximate more complex nonlinear characteristics. Specifically, we examine prediction performance that corresponds to several configurations across data splitting ratios, hidden neuron and delay counts, and model estimation approaches.
Findings
Our model turns out to be rather simple and yields forecasts with good stability and accuracy. Relative root mean square errors throughout training, validation and testing are specifically 4.34, 4.71 and 3.98%, respectively. The results of benchmark research show that the neural network produces statistically considerably better performance when compared to other machine learning models and classic time-series econometric methods.
Originality/value
Utilizing our findings as independent technical price forecasts would be one use. Alternatively, policy research and fresh insights into price patterns might be achieved by combining them with other (basic) prediction outputs.
Details
Keywords
Runze Ling, Ailing Pan and Lei Xu
This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing…
Abstract
Purpose
This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing constraints, low-quality accounting information or less tangible assets.
Design/methodology/approach
We use a proprietary dataset of firms listed on the Shanghai and Shenzhen Stock Exchanges to investigate the impact of mixed ownership reform on non-state-owned enterprise (non-SOE) innovation. We employ regression analysis to examine the association between mixed ownership reform and firm innovation.
Findings
The study finds that non-state-owned firms can improve innovation by acquiring equity in state-owned enterprises (SOEs) under the reform. Eased financing constraints, lowered financing costs, better access to tax incentives or government subsidies, lowered agency costs, better accounting information quality and more credit loans are underlying the impact. Additionally, cross-ownership connections amongst non-SOE executives and government intervention strengthen the impact, whilst regional marketisation weakens it.
Originality/value
This study adds to the literature on the association between mixed ownership reform and firm innovation by focussing on the conditions under which this impact is stronger. It also sheds light on the policy implications for SOE reforms in emerging economies.
Details
Keywords
In China, the clothing industry, featured by labor-intensive operation and low added value, is facing a major challenge, namely how to change the pattern of China's clothing…
Abstract
In China, the clothing industry, featured by labor-intensive operation and low added value, is facing a major challenge, namely how to change the pattern of China's clothing industry by means of technology, innovation, originality and so on, and mitigate inventory pressure. The Red Collar Group presented in this case not only realizes zero inventory, but also achieves a year-on-year growth of more than 150% of annual sales in 2015. All of this can be attributed to the Internet zero inventory and customization model which took 10 years to build up: Using new information technology, collect personalized and fragmented customer needs, and design a production module involving business process reengineering and IT/IS integration.
Bingjun Li, Shuhua Zhang, Wenyan Li and Yifan Zhang
Grey modeling technique is an important element of grey system theory, and academic articles applied to agricultural science research have been published since 1985, proving the…
Abstract
Purpose
Grey modeling technique is an important element of grey system theory, and academic articles applied to agricultural science research have been published since 1985, proving the broad applicability and effectiveness of the technique from different aspects and providing a new means to solve agricultural science problems. The analysis of the connotation and trend of the application of grey modeling technique in agricultural science research contributes to the enrichment of grey technique and the development of agricultural science in multiple dimensions.
Design/methodology/approach
Based on the relevant literature selected from China National Knowledge Infrastructure, the Web of Science, SpiScholar and other databases in the past 37 years (1985–2021), this paper firstly applied the bibliometric method to quantitatively visualize and systematically analyze the trend of publication, productive author, productive institution, and highly cited literature. Then, the literature is combed by the application of different grey modeling techniques in agricultural science research, and the literature research progress is systematically analyzed.
Findings
The results show that grey model technology has broad prospects in the field of agricultural science research. Agricultural universities and research institutes are the main research forces in the application of grey model technology in agricultural science research, and have certain inheritance. The application of grey model technology in agricultural science research has wide applicability and precise practicability.
Originality/value
By analyzing and summarizing the application trend of grey model technology in agricultural science research, the research hotspot, research frontier and valuable research directions of grey model technology in agricultural science research can be more clearly grasped.
Details
Keywords
Jian Xu, Muhammad Haris and Feng Liu
The purpose of this paper is to investigate the impact of intellectual capital (IC) and its components (human, structural, relational and innovation capitals) on financial…
Abstract
Purpose
The purpose of this paper is to investigate the impact of intellectual capital (IC) and its components (human, structural, relational and innovation capitals) on financial performance (FP) at different life cycle stages.
Design/methodology/approach
The study uses the data from Chinese manufacturing listed companies during 2014–2018. The modified value added intellectual coefficient (MVAIC) model is employed as the measurement of IC efficiency. Finally, multiple regression analysis is used to test the research hypotheses.
Findings
This study shows that the impact of IC on FP is different across life cycle stages. Specifically, at the birth stage, human capital (HC), structural capital (SC) and innovation capital (INC) have a positive impact on FP. At the growth and mature stages, all IC components contribute to FP improvement. HC and SC play an important role at the revival stage, while only HC positively affects FP at the decline stage.
Practical implications
The findings may help corporate managers to make optimal strategies to improve FP by effective utilization of IC resources in the complex and competitive business environment. Meanwhile, companies can invest in the core elements of IC at different stages of development, so as to maximize the contribution of IC to company value.
Originality/value
This is among the few studies to explore the impact of IC on FP of manufacturing listed companies in the Chinese context from the perspective of life cycle. It also makes novel contributions in measuring IC by the MVAIC model with the inclusion of relational capital and INC that are largely neglected in previous research.
Details
Keywords
Mian Zhang and Xiyue Ma
The overall goal of this chapter is twofold. First, the authors aim to identify indigenous phenomena that influence employee turnover and retention in the Chinese context. Second…
Abstract
The overall goal of this chapter is twofold. First, the authors aim to identify indigenous phenomena that influence employee turnover and retention in the Chinese context. Second, the authors link these phenomena to the contextualization of job embeddedness theory. To achieve the goal, the authors begin by introducing three macro-level forces (i.e., political, economic, and cultural forces) in China that help scholars analyze contextual issues in turnover studies. The authors then provide findings in the literature research on employee retention studies published in Chinese academic journals. Next, the authors discuss six indigenous phenomena (i.e., hukou, community in China, migrant workers, state-owned companies, family benefit prioritization, and guanxi) under the three macro-level forces and offer exploratory propositions illustrating how these phenomena contribute to understanding employee retention in China. Finally, the authors offer suggestions on how contextualized turnover studies shall be conducted in China.
Details
Keywords
Home is a place/system/product that becomes increasingly occupied with various tasks used to be performed in workplaces. However, the knowledge of the relationship between…
Abstract
Purpose
Home is a place/system/product that becomes increasingly occupied with various tasks used to be performed in workplaces. However, the knowledge of the relationship between residential physical environments and occupant experience is limited, especially when considering the effect of indoor plants (IPs) and climate zones. To address the gap, this study conducted a questionnaire survey in three cities across different regions in China.
Design/methodology/approach
Based on User Experience and Customer Satisfaction Index theory, following the research paradigm, a total of 627 valid samples were collected and analyzed in a stepwise statistical analysis, including descriptive statistics, reliability and validity test, correlation test and region comparison, then the model of PROCESS was adopted to examine the hypotheses that are given based on the former studies.
Findings
The results showed that residential physical environments have a significant effect on occupant satisfaction (OS) in all regions, as well as OS on occupant performance. However, regional differences were found that OS is a complete mediator in the Middle region, while a partial mediator in the North and South. A slight moderating effect of IPs was also found in the region of South. Nevertheless, both the number of plants and plant types have a significant moderating effect on the mechanism.
Originality/value
Besides combining two theories and confirming the mechanism in the residential physical environment, it is also the first study to consider the moderating effects of IPs and climate zones, providing potential empirical support for not only design and management stages but also facing global challenges of working at home and climate changes.
Details