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The ‘managed stock’ market in Taiwan is neglected by the authorities and general investors. In this paper, we explore the link between financial trait and stock price changes in this special market.

Overall, we analyze and discuss managerial implications for institutional investors, general investors and the authorities as well.

The purpose of this paper is to integrate Modigliani-Miller (MM) theory and stock repurchases strategy to procure a practical concept for capital decision.

No-arbitrage proof model deduction was used in this study. The authors consider corporate tax and funding sources as two crucial factors drawn in the model. The paper derives some propositions by trichotomy property and keeps the key assumptions of MM Capital Structure Theory.

There are two different effects on firm's value through stock repurchases. The positive effect occurs on firm's value through stock repurchases with loan fund. And the negative impact exists on firm's value through stock repurchases with idle fund.

Notably, in the real world there are three limitations with such an arbitrage transaction (Stulz, 2000). The first one is the default risk, and the second one is transaction costs and the last one is the perfect credit market assumption. In the near future, the authors suggest it would be interesting to involve the interest rate factor and contingent tax variable into our model.

On the basis of no arbitrage opportunity, this paper considers both trichotomy property and MM theory. It proves the share repurchase strategy should be financed by borrowing fund. In contrast, share repurchase should not be executed with idle fund because of opportunity cost.

Zaleha Abdul Shukor is a Senior lecturer in Accounting at the School of Accounting, Universiti kebangsaan Malaysia. She obtained Masters of Commerce from Macquarie Uni, Australia and BSc (Acctg) from Syracuse Univ, NY. She is pursuing her PhD at Universiti Teknologi MARA, Malaysia. Her research interests include, financial reporting and capital market-based research.

This paper develops a smart system based on the concept of Industry 4.0 to prevent customer dissatisfaction. The value of this prevention system is that it enables hoteliers to interact with customers by understanding what they like/dislike from their behaviors via data analysis. Therefore, this system helps hoteliers to enhance service quality by predicting service issues.

The system, named the dissatisfaction identification system (DIS), is developed. A total of 127 service items were examined by a hotel manager who preset the threshold values for the measurement of service quality. A big data set for the questionnaire survey is statistically generated by a pseudorandom number generator and 10,000 mock data sets are taken as input for comparison.

The results indicated that 36 out of 127 service items are identified as service issues for the participating hotel. Examples include customer code number 01d, “Space of parking lot is adequate” in the safety management category, and number 05a, “A hotel's service time meets my needs” in the front office service category. The items identified require improvement action plans for preventing customer dissatisfaction.

This paper offers a new perspective paper emphasizing customer dissatisfaction using a big data-driven technology system. The DIS, prevention system, is developed to aid hotels by enhancing their relationships with customers using a data-driven approach.

The purpose of this paper is to propose a cradle-to-cradle (C2C) zero discharge production planning system with a fuzzy hybrid optimization model that uses fuzzy comprehensive evaluation to establish fuzzy indicators, and then defuzzify the fuzzy indicators to construct a fuzzy multiobjective programming (FMOP) model.

The FMOP model pursues overall satisfaction using a particle swarm optimization algorithm to produce the best output values for the maximum waste paper recovery rate, the condensate reuse quality and minimum total cost of the zero discharge production planning system.

Recovered waste heat is seldom recycled and consumed in Taiwan. There is a need to capture and utilize heat recovery and use it in the production process supply. In contrast, waste materials are used as resources to perform waste paper recovery and recycle the waste heat of evaporation collection in the production process.

This paper develops a system to establish the best output value for an overall high satisfaction level. According to the results, the waste paper recovery rate is 99.8 percent, condensate reuse quality water is 102.6 tons and the total cost of the zero discharge production planning system is NT$1,312,012.

This study aims to understand the satisfaction and needs of eastern and western travelers as hotel guest, based on their experiences as seen in guest reviews and review topics.

Considering 2,965 and 1,035 western and eastern traveler reviews, respectively, from 47 countries, obtained from TripAdvisor listed-hotel in Phnom Penh and Siem Reap city in Cambodia, this study investigates the differences in hotel guest satisfaction and needs by using topic modeling (i.e. latent Dirichlet allocation [LDA]).

The results reveal differences in the online preferences, experiences, expectations and behaviors of hotel guests from different cultural backgrounds. Though western and eastern travelers appear to place similar emphasis on service, location, room and destination. The westerners more likely focus on meal and online reservation, whereas the easterners focus on hotel facility.

Reviews were obtained from only two cities in Cambodia, which is not an adequate representation of the diverse travelers visiting the country.

The comparison highlighting the similarities and dissimilarities between western and eastern traveler perspectives enable hoteliers to understand guests’ preferences and their hidden changes in (dis)satisfaction and leverage it to improve hotel service quality, increase occupancy and, thereby, maximize profits.

This study contributes to the literature on hotel guests’ experiences by presenting the difference in perceptions of service experience of western and eastern travelers, through topic modeling.

The Communist revolution in China has led to the appearance in this country of increasing numbers of Chinese books in Russian translation. The Chinese names in Cyrillic transcription have presented many librarians and students with a new problem, that of identifying the Cyrillic form of a name with the customary Wade‐Giles transcription. The average cataloguer, the first to meet the problem, has two obvious lines of action, and neither is satisfactory. He can save up the names until he has a chance to consult an expert in Chinese. Apart altogether from the delay, the expert, confronted with a few isolated names, might simply reply that he could do nothing without the Chinese characters, and it is only rarely that Soviet books supply them. Alternatively, he can transliterate the Cyrillic letters according to the system in use in his library and leave the matter there for fear of making bad worse. As long as the writers are not well known, he may feel only faintly uneasy; but the appearance of Chzhou Ėn‐lai (or Čžou En‐laj) upsets his equanimity. Obviously this must be entered under Chou; and we must have Mao Tse‐tung and not Mao Tsze‐dun, Ch'en Po‐ta and not Chėn' Bo‐da. But what happens when we have another . . . We can hardly write Ch'en unless we know how to represent the remaining elements in the name; yet we are loth to write Ch'en in one name and Chėn' in another.