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1 – 10 of 33This study aims to tackle the critical issue of detecting stock market manipulation, which undermines the integrity and stability of financial markets globally. Even enhanced with…
Abstract
Purpose
This study aims to tackle the critical issue of detecting stock market manipulation, which undermines the integrity and stability of financial markets globally. Even enhanced with machine learning, traditional statistical methods often struggle to analyze high-frequency trading data effectively due to inherent noise and the limited availability of publicly known manipulation cases. This leads to poor model generalization and a tendency toward over-fitting. Focusing on China's securities market, our study introduces an innovative approach that employs deep learning-based high-frequency jump tests to overcome these challenges and to develop a more effective method for identifying manipulative activities.
Design/methodology/approach
We employed the “Jump Variation – Time-of-Day” (JV-TOD) non-parametric technique for jump tests on high-frequency data, coupled with the synthetic minority over-sampling technique (SMOTE) algorithm for re-balancing sample data. Our approach trains a deep neural network (DNN) on refined data to enhance its ability to identify manipulation patterns accurately.
Findings
Our results show that the deep neural network model, calibrated with high-frequency price jump data, identifies manipulation behavior more specifically and accurately than traditional models. The model achieved an accuracy rate of 94.64%, an F1-score of 95.26% and a recall rate of 95.88%, significantly outperforming traditional models. These results demonstrate the effectiveness of our approach in mitigating over-fitting and improving the robustness of market manipulation detection.
Practical implications
The proposed model provides regulatory entities and financial institutions with a more efficient tool to monitor and counteract market manipulation, thereby improving market fairness and investor protection.
Originality/value
By integrating the JV-TOD jump test with deep learning, this study proposed a new approach to market manipulation detection. The innovation is in its capacity to detect subtle manipulation signals that traditional methods typically overlook. Our model, which is trained on jump test data enhanced by the SMOTE algorithm, excels at learning complex manipulation patterns. This enhances both detection accuracy and robustness. In contrast to existing methods that are challenged by the noisy and intricate nature of high-frequency data, our approach shows enhanced performance in identifying nuanced market manipulations, offering a more effective and reliable method for detecting market manipulation.
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Yuan Yuan Hu, Yanhui Zhu, Jon Tucker and Yuxiao Hu
This paper aims to examine the relationship between ownership type and the likelihood of publication of a corporate social responsibility (CSR) report.
Abstract
Purpose
This paper aims to examine the relationship between ownership type and the likelihood of publication of a corporate social responsibility (CSR) report.
Design/methodology/approach
Drawing on stakeholder salience theory, the probit model is used for a sample of 1,839 Chinese listed firms to study how different types of owners influence firm CSR engagement.
Findings
The analysis reveals that the Chinese stock exchanges exert a positive influence on the likelihood of a firm producing a CSR report, an effect which is more significant in state-owned enterprises (SOEs). Foreign investors lead to a greater likelihood of publication of a CSR report, though this effect is weaker in SOEs. In contrast, the holdings of state and domestic institutional investors are broadly neutral.
Practical implications
The study helps corporate managers to recognise how particular types of shareholders will value their efforts regarding CSR activities and disclosure and also assists policymakers in improving the level of CSR disclosure through the development of new policy.
Social implications
Apposite CSR disclosure enhances trust and facilitates the shared values on which to build a more cohesive society.
Originality/value
The novelty of this study is that it addresses the effect of institutional investors on Chinese firm CSR engagement and thus provides an important insight for firms, investors and other stakeholders into the interplay of portfolio investment and CSR.
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Yanhui Song, Lixin Lei, Lijuan Wu and Shiji Chen
This paper focuses on the differences in domain intellectual structure discovery between author bibliographic coupling analysis (ABCA) and author co-citation analysis (ACA…
Abstract
Purpose
This paper focuses on the differences in domain intellectual structure discovery between author bibliographic coupling analysis (ABCA) and author co-citation analysis (ACA) considering all authors. The purpose of this study is to examine whether and in what ways these two all-author network approaches yield different results.
Design/methodology/approach
The sample was collected from the database of Web of Science, including all articles published in Scientometrics and Journal of Informetrics from 2011 to 2020. First, 100 representative authors were selected from each set, and ABCA matrices and ACA matrices were constructed. Second, factor analysis was carried out on the matrices, to detect the intellectual structure of scientometrics and informetrics.
Findings
The intellectual structures identified by ABCA and ACA are similar overall, but the results differ somewhat when it comes to specific structures. The ABCA is more sensitive to some highly collaborative research teams and presents a clearer picture of current intellectual structures and trends while ACA seems to have some advantages in representing the more traditional and proven research topics in the field. The combined use of ABCA and ACA allows for a more comprehensive and specific intellectual structure of research fields.
Originality/value
This paper compares the performance of ABCA and ACA detecting the intellectual structure of the domain from the perspective of all authors, revealing the intellectual structure of scientometrics and informetrics comprehensively.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-12-2020-0540.
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Weiguang Qu, Rubing Dai, Taizhong Wu, Jian Liu, Junsheng Zhou, Yanhui Gu and Ge Xu
Automatic interpretation of Nominal Compounds is a crucial issue for many applications, for example, sentence understanding, machine translation, question-answering system and so…
Abstract
Purpose
Automatic interpretation of Nominal Compounds is a crucial issue for many applications, for example, sentence understanding, machine translation, question-answering system and so forth. Many automatic interpretation models of Nominal Compounds use the strategies based on verbs or rules to obtain the interpretation of compounds. However, the performances of these models are still limited. The purpose of this paper is to propose an effective approach for automatic interpretation of Chinese nominal compounds.
Design/methodology/approach
The authors propose a top-down and bottom-up model based on rules and large-scale corpus for automatic interpretation of Nominal Compounds.
Findings
Experimental results demonstrate that the proposed model outperforms the state-of-the-art automatic interpretation model.
Originality/value
The paper is an up-to-date study of automatic interpretation for Nominal Compounds. It can help people understand the meaning of Nominal Compounds in reading. With a better understanding of Nominal Compounds, we can discover more hidden knowledge in them.
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Yanhui Du, Jingfeng Yuan, ShouQing Wang, Yan Liu and Ningshuang Zeng
The information used for supervision by regulatory departments in public-private partnership (PPP) projects is primarily transmitted and processed by the PPP implementation…
Abstract
Purpose
The information used for supervision by regulatory departments in public-private partnership (PPP) projects is primarily transmitted and processed by the PPP implementation department, which negatively impacts the information quality, leading to information asymmetry and undermining the overall effectiveness of supervision. This study aims to explore how to use blockchain to anchor the information used for supervision in PPP projects to the original information, to strengthen the oversight.
Design/methodology/approach
This paper adopts the principles of design science research (DSR) to design a conceptual framework that systematically organizes information along the information dissemination chain, ensuring the reliable anchoring of original information. Two-stage interviews involving experts from academia and industry are conducted, serving as formative and summative evaluations to guide the design.
Findings
The framework establishes a weak-centralized information organizing mode, including the design of governance community and on-chain and off-chain governance mechanisms. Feedback from experts is collected via interviews and the designed framework is thought to improve information used for supervision. Constructive suggestions are also collected and analyzed for further development.
Originality/value
This paper provides a novel example exploring the inspirations blockchain can bring to project governance, like exercising caution regarding the disorderly expansion of public sector authority in addressing information disadvantages and how to leverage blockchain to achieve this. Technical details conveyed by the framework deepen understanding of how blockchain benefits and the challenges faced in successful implementation for practitioners and policymakers. The targeted evaluation serves as rigorous validation, guiding experts to provide reliable feedback and richer insights by offering them a more cognitively convenient scenario.
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Qingfeng Meng, Yifan Zhang, Zhen Li, Weixiang Shi, Jun Wang, Yanhui Sun, Li Xu and Xiangyu Wang
The purpose of this paper is to summarize the current applications of BIM, the integration of related technologies and the tendencies and challenges systematically.
Abstract
Purpose
The purpose of this paper is to summarize the current applications of BIM, the integration of related technologies and the tendencies and challenges systematically.
Design/methodology/approach
Using quantitative and qualitative bibliometric statistical methods, the current mode of interaction between BIM and other related technologies is summarized.
Findings
This paper identified 24 different BIM applications in the life cycle. From two perspectives, the implementation status of BIM applications and integrated technologies are respectively studied. The future industry development framework is drawn comprehensively. We summarized the challenges of BIM applications from the perspectives of management, technology and promotion, and confirmed that most of the challenges come from the two driving factors of promotion and management.
Research limitations/implications
The technical challenges reviewed in this paper are from the collected literature we have extracted, which is only a part of the practical challenges and not comprehensive enough.
Practical implications
We summarized the current mode of interactive use of BIM and sorted out the challenges faced by BIM applications to provide reference for the risks and challenges faced by the future industry.
Originality/value
There is little literature to integrate BIM applications and to establish BIM related challenges and risk frameworks. In this paper, we provide a review of the current implementation level of BIM and the risks and challenges of stakeholders through three aspects of management, technology and promotion.
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Yanhui Mao, Shuangyang Guo, Mei Xie, Junkai Yu, Xuyuan Deng, Yingchao Li, Yuxi Zhai and Feng Kong
This paper aims to examine the day-to-day within-person associations between employees' flow experience and organizational identification within the rarely studied context of…
Abstract
Purpose
This paper aims to examine the day-to-day within-person associations between employees' flow experience and organizational identification within the rarely studied context of construction engineering project organizations.
Design/methodology/approach
In this daily diary design, the authors surveyed 204 (Mage = 28.3, SD = 5.69) employees of a state-owned construction engineering project organization in southwest China via the online questionnaires comprising flow and organizational identification scales once daily on each workday for three consecutive weeks, which yielded 3,060 data entries. The authors then tested the temporal directionality between flow and organizational identification with multilevel time-series cross-lagged path analysis using Mplus 8.3.
Findings
Daily flow experience was linked positively with same-day organizational identification. Importantly, flow experience on the previous day predicted organizational identification on a subsequent day, but not vice versa.
Practical implications
This study suggests that construction engineering project managers should implement interventions fostering the employees' flow experience to promote organizational identification, with important implications for organizations aiming at flourishing workforces by facilitating organizational identification through implementing flow strategies.
Originality/value
There is a dearth of diary studies on flow and organizational identification specific to construction engineering project employees. The authors’ findings provide concrete evidence of the fluctuant nature of daily flow experience and organizational identification as well as their dynamic predictive pathway relationship.
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Yanhui Wei, Zhiling Meng, Na Liu and Jianqi Mao
This paper aims to investigate the relationship linking hard technology innovation with the high-quality development (HDP) of SRDI firms. SRDI firms are typically classified as…
Abstract
Purpose
This paper aims to investigate the relationship linking hard technology innovation with the high-quality development (HDP) of SRDI firms. SRDI firms are typically classified as medium-sized to moderately scaled businesses renowned for their specialized, refinement, differentiation and innovation (SRDI), with a focus on providing exceptional products or services to gain a competitive advantage in specific market segments. These firms are dedicated to expanding market share and enhancing innovation capacities both locally and globally. The research also aims to scrutinize the contextual effects of digital transformation within this framework.
Design/methodology/approach
Hard technology innovation consists of three essential components: innovative characteristics, newly developed technology-based intellectual property rights and the volume of R&D initiatives. The evaluation of HDP was performed utilizing the entropy method, with a specific emphasis on assessing value creation and value management capabilities. Subsequently, this study explores the impact of technological innovation on the HDP of firms using a dual-dimension fixed effects model.
Findings
Every aspect of hard technology innovation is essential for promoting the HDP of businesses. The digital transformation of businesses exerts a heterogeneous moderating influence in this process. This is evident in the constructive impact on the connection between innovation attributes and the volume of fruitful R&D initiatives, as well as the HDP of firms. Conversely, the moderating effect is deemed insignificant in the association between new technology-based intellectual property and HDP.
Originality/value
This research delves deeper into the underlying mechanisms that underlie the promotion of HDP through hard technology innovation, thereby expanding the scope of our exploration on the HDP of SRDI firms. It establishes a theoretical framework and practical directives for achieving enhanced development quality amidst the evolving landscape of digital transformation within firms.
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Huaishu Li, Yanhui Lai, Wu Qiang and Xiang Dong
In order to research the law of the low‐frequency power oscillation which often exists in the synchronous generator rectification system, the purpose of this paper is to study…
Abstract
Purpose
In order to research the law of the low‐frequency power oscillation which often exists in the synchronous generator rectification system, the purpose of this paper is to study theoretical analysis and numerical calculation on the static stability of the system.
Design/methodology/approach
Different from the common three‐phase synchronous generator operating in large power networks, the stability of synchronous generator rectification systems is much more difficult to analyze because of its nonlinear loads. Some papers have analyzed the stability of the synchronous generator rectification system and presented different parameter conditions of system stability, but since factors that influence the system stability are complex, the essence of this kind of oscillation is not completely known yet. By considering rectification systems as an equivalent to DC circuits, the correct circuit model which is necessary to analyze the rectification systemic stability is set up, the changing law and relationship of various parameters under mini‐disturbances is analyzed, a linear differential equation about the DC‐side average current is derived, the stability of the synchronous generator rectification system is analyzed and deduced by using Hull criterion, all parameters influencing system stability are calculated and analyzed, and their ranges for a stable rectification system are given. Also, the reason why and how the parameters affect system stability is explained.
Findings
The operational stability of synchronous generator rectification systems is completely and correctly recognized.
Practical implications
The paper has a reference value for the design and safe operation of synchronous generator rectification systems.
Originality/value
The paper puts forward system stability criterion and gives a rational physical explanation about system stability.
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Xiaoping Zhang, Yanhui Li, Meixiu Li, Heng Zheng, Qiuju Du, Hong Li, Yuqi Wang, Dechang Wang, Cuiping Wang, Kunyan Sui, Hongliang Li and Yanzhi Xia
The purpose of this paper is to purify the wastewater in the garment industry.
Abstract
Purpose
The purpose of this paper is to purify the wastewater in the garment industry.
Design/methodology/approach
The preparation of the calcium alginate (CA)/activated carbon (AC) composite membrane was achieved by vacuum freeze-drying and the cross-linking reaction between sodium alginate and CaCl2. Effective parameters in the methylene blue (MB) adsorption such as temperature, dose, contact time and pH were discussed. The adsorption properties of the composite membrane were investigated by isotherm, kinetics and thermodynamic analysis. The adsorption equilibrium data were described by the adsorption isotherm Langmuir model and the Freundlich model. The pseudo-first-order, pseudo-second-order and intra-particle diffusion equations were selected to evaluate the kinetics. The thermodynamic study described that the adsorption reaction was spontaneous and exothermic.
Findings
The AC/CA membrane is an efficient and powerful adsorbent to remove MB in printing and dyeing wastewater, and provides a new idea for the selection of adsorption materials for industrial printing and dyeing wastewater.
Practical implications
The composite membrane research on CA and AC can provide new ideas for the research of these kinds of materials.
Social implications
The paper contributes to its wider and convenientapplication in wastewater treatment.
Originality/value
Studies on the combination of CA and AC into adsorption membranes and for the removal of dyes from printing and dyeing wastewater have not been reported. A novel composite material is provided for treatment dyeing wastewater in garment production. The composite membrane research on CA and AC can provide new ideas for the research of these kinds of materials and contribute to its wider and convenient application in wastewater treatment.
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