Ike Mathur and Soumen De
The Dim Sum bond market in Hong Kong, which allows China to regulate the amount of offshore yuans that flow back into the mainland, has grown steadily since its inception in 2007…
Abstract
The Dim Sum bond market in Hong Kong, which allows China to regulate the amount of offshore yuans that flow back into the mainland, has grown steadily since its inception in 2007 and is expected to surpass in 2013 the threshold level that would attract insurers and long-term issuers to the market. Yet, the market has not matured sufficiently relative to the yuan deposit market in Hong Kong that has grown at a much faster pace on account of trade liberalization and the use of yuans in China’s international trade settlements. Even though Hong Kong has fulfilled its role as an offshore currency center for the yuan, it is being challenged by Taiwan, Singapore, and London in terms of being the premier location for the issuance of yuan-denominated bonds outside of Mainland China.
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Shengbin Wang, Feng Liu, Lian Lian, Yuan Hong and Haozhe Chen
The purpose of this paper is to solve a post-disaster humanitarian logistics problem in which medical assistance teams are dispatched and the relief supplies are distributed among…
Abstract
Purpose
The purpose of this paper is to solve a post-disaster humanitarian logistics problem in which medical assistance teams are dispatched and the relief supplies are distributed among demand points.
Design/methodology/approach
A mixed integer-programming model and a two-stage hybrid metaheuristic method are developed to solve the problem. Problem instances of various sizes as well as a numerical example based on the 2016 Kyushu Earthquake in Japan are used to test the proposed model and algorithm.
Findings
Computational results based on comparisons with the state-of-the-art commercial software show that the proposed approach can quickly find near-optimal solutions, which is highly desirable in emergency situations.
Research limitations/implications
Real data of the parameters of the model are difficult to obtain. Future collaborations with organizations such as Red Cross and Federal Emergency Management Agency can be extremely helpful in collecting data in humanitarian logistics research.
Practical implications
The proposed model and algorithm can help governments and non-governmental organizations (NGOs) to effectively and efficiently allocate and coordinate different types of humanitarian relief resources, especially when these resources are limited.
Originality/value
This paper is among the first ones to consider both medical team scheduling (routing) and relief aid distribution as decision variables in the humanitarian logistics field. The contributions include developing a mathematical model and a heuristic algorithm, illustrating the model and algorithm using a numerical example, and providing a decision support tool for governments and NGOs to manage the relief resources in disasters.
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Hong Yuan, Jun Han, Huaqiang Lu, Junhui Li and Lan Zeng
Due to its inexpensive production costs, low stress concentration and maintenance-friendliness, the adhesive bonded pipe joint is frequently utilized for pipe connection. However…
Abstract
Purpose
Due to its inexpensive production costs, low stress concentration and maintenance-friendliness, the adhesive bonded pipe joint is frequently utilized for pipe connection. However, further theoretical analysis is needed to understand the debonding failure mechanism of such bonded pipe joints under axial tension.
Design/methodology/approach
In this study, based on the bi-linear cohesive zone model, the integrated closed-form solutions were derived by considering the axial stiffness ratio and failure stage to determine the relative interfacial slip, interfacial shear stress and relationship of tension–displacement in the bonded pipe joint.
Findings
Additionally, solutions for the critical bonded length and the ultimate load capacity were put forth. Besides, the numerical study was conducted to verify the theoretical solutions regarding the load–displacement relationship. The interfacial shear stress distribution at different failure stages was presented to understand the interfacial shear stress transmission and debonding process. The effect of bonded length on the ultimate load and ductility of pipe joints was also discussed.
Originality/value
The findings in this study can give a reference for the design of bonded pipe joints in their actual engineering applications.
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Atul Kulkarni, Xin Cindy Wang and Hong Yuan
This paper aims to examine the unintended negative effect of incentivizing shoppers to make unplanned purchases through incentive reminders during shopping trips.
Abstract
Purpose
This paper aims to examine the unintended negative effect of incentivizing shoppers to make unplanned purchases through incentive reminders during shopping trips.
Design/methodology/approach
Two experimental studies with between-subject designs were conducted to examine the effect of incentive reminders and related factors on abandonment intention.
Findings
When the search for unplanned purchases needed to reach promotional threshold fails, shoppers’ propensity to abandon a transaction increases if they are reminded of an incentive during their shopping trip. When the size of the planned purchases is relatively larger than the incentivized unplanned purchases, abandonment propensity is higher in response to reward type incentives, whereas when the size of the planned purchases is relatively smaller than the incentivized unplanned purchases, abandonment propensity is higher in response to avoidance type incentives.
Research limitations/implications
This research intersects and integrates several research domains, specifically transaction abandonment, promotional reactance, unplanned purchases and promotion framing.
Practical implications
Findings from this research help managers understand the possible negative consequences of incentive reminders and offer suggestions for decreasing shopper propensities to abandon transactions in response to incentive reminders aimed at increasing transaction sizes.
Originality/value
This is the first study to highlight (i) the possible effect of incentive reminders on transaction abandonment; (ii) the influence of the size of unplanned purchases and incentive types on abandonment; and (iii) the underlying roles of perceived value of planned purchases and fairness perceptions in abandonment.
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Xuemei Zhao, Xin Ma, Yubin Cai, Hong Yuan and Yanqiao Deng
Considering the small sample size and non-linear characteristics of historical energy consumption data from certain provinces in Southwest China, the authors propose a hybrid…
Abstract
Purpose
Considering the small sample size and non-linear characteristics of historical energy consumption data from certain provinces in Southwest China, the authors propose a hybrid accumulation operator and a hybrid accumulation grey univariate model as a more accurate and reliable methodology for forecasting energy consumption. This method can provide valuable decision-making support for policy makers involved in energy management and planning.
Design/methodology/approach
The hybrid accumulation operator is proposed by linearly combining the fractional-order accumulation operator and the new information priority accumulation. The new operator is then used to build a new grey system model, named the hybrid accumulation grey model (HAGM). An optimization algorithm based on the JAYA optimizer is then designed to solve the non-linear parameters θ, r, and γ of the proposed model. Four different types of curves are used to verify the prediction performance of the model for data series with completely different trends. Finally, the prediction performance of the model is applied to forecast the total energy consumption of Southwest Provinces in China using the real world data sets from 2010 to 2020.
Findings
The proposed HAGM is a general formulation of existing grey system models, including the fractional-order accumulation and new information priority accumulation. Results from the validation cases and real-world cases on forecasting the total energy consumption of Southwest Provinces in China illustrate that the proposed model outperforms the other seven models based on different modelling methods.
Research limitations/implications
The HAGM is used to forecast the total energy consumption of the Southwest Provinces of China from 2010 to 2020. The results indicate that the HAGM with HA has higher prediction accuracy and broader applicability than the seven comparative models, demonstrating its potential for use in the energy field.
Practical implications
The HAGM(1,1) is used to predict energy consumption of Southwest Provinces in China with the raw data from 2010 to 2020. The HAGM(1,1) with HA has higher prediction accuracy and wider applicability compared with some existing models, implying its high potential to be used in energy field.
Originality/value
Theoretically, this paper presents, for the first time, a hybrid accumulation grey univariate model based on a new hybrid accumulation operator. In terms of application, this work provides a new method for accurate forecasting of the total energy consumption for southwest provinces in China.
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We study up to 27 years of weekly data on nine currencies to examine the importance of the Japanese yen in exchange rate determination in North and Southeast Asia. We combine a…
Abstract
We study up to 27 years of weekly data on nine currencies to examine the importance of the Japanese yen in exchange rate determination in North and Southeast Asia. We combine a time-varying methodology alongside a focus on long-run equilibrium. Our findings suggest that the Japanese yen had virtually no influence on Asian exchange rates in the 10-year period prior to the Asian financial crisis in the late 1990s. Since the crisis, the yen and the German mark in particular have exerted a significant influence over the region's exchange rates except for the Chinese yuan, the Hong Kong dollar and the Malaysian ringgit, which continue to be closely related to the US dollar.
We investigate fluctuations in the nominal effective exchange rates (NEERs) of East Asian currencies and the Asian monetary unit (AMU), which is computed as a weighted average of…
Abstract
We investigate fluctuations in the nominal effective exchange rates (NEERs) of East Asian currencies and the Asian monetary unit (AMU), which is computed as a weighted average of East Asian currencies during the global financial crisis. We find that NEERs were more stable for countries that continued to follow a currency basket system during the global financial crisis.
Furthermore, we investigate the relationships among NEERs, AMU, and AMU deviation indicators, which indicate the extent of the deviation in the exchange rate of each East Asian currency from a benchmark rate given in terms of the AMU. By comparing NEERs with a combination of AMU and AMU deviation indicators, we find that there is a strong relationship between them, both before and after the global financial crisis. These results indicate that a coordinated exchange rate policy aimed at stabilizing the AMU deviation indicators will be effective in stabilizing the NEERs of East Asian currencies. In this respect, the AMU deviation indicators, which indicate intraregional exchange rates among East Asian currencies, play a crucial role.
Because NEER trade weights are widely similar among East Asian currencies, a policy aimed at stabilizing a home currency against its NEER may lead to a coordinated exchange rate policy without a common consensus among East Asian countries. In the future, however, coordinated monetary policies should be considered along with coordinated exchange rate policies.
Details
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- Asian monetary unit (AMU)
- AMU deviation indicator
- de facto US dollar peg system
- currency basket system
- nominal effective exchange rate (NEER)
- coordinated exchange rate policy
- the Chiang Mai Initiative
- trade weight
- GDP measured at PPP
- European currency unit (ECU)
- implicit basket weights
- currency regime
- surveillance
- European monetary system (EMS)
Yi-Hai Zhang, Hongyu Peng, Hin Wah Chris Cheung, King Man Eric Chong and Chin Fung Philip Chow
The purpose of this paper is to explore the differences between Hong Kong Special Administrative Region (SAR) and Mainland in terms of education and also the influence of it on…
Abstract
Purpose
The purpose of this paper is to explore the differences between Hong Kong Special Administrative Region (SAR) and Mainland in terms of education and also the influence of it on doing comparative educational research. Hong Kong SAR is ruled by the Chinese Government under the framework of “One country, two systems.” It makes Hong Kong SAR different from other Mainland cities based on different aspects including, education. The finding of this paper provides a systematic review about the differences between these two Chinese societies in terms of education and also implication for conducting comparative educational research in these two societies and also generating some implications for cross-national and cross-cultural study in education.
Design/methodology/approach
This paper made references from the framework proposed by Bray and Thomas (1995) in relation to comparative educational research to make comparison between Hong Kong SAR and Mainland China. Multi-level comparison is conducted between two societies in terms of education, especially aspects relating to conducting educational research sat social, school and individual levels.
Findings
This paper identified the influence of “One county, two systems” on education at different levels such as ideology, school management system and use of languages in teaching. Such differences affect the choice of topics, sampling strategy, research design, data analysis and interpretation and also ethical considerations when conducting comparative research between Hong Kong SAR and Mainland China.
Originality/value
This paper is an integrated analysis of conducting educational research in two Chinese societies and provides insights for further discussions and possible research about this topic.
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– The purpose of this paper is to examine the economic development in Singapore, Hong Kong and Macao to find the reasons for the success.
Abstract
Purpose
The purpose of this paper is to examine the economic development in Singapore, Hong Kong and Macao to find the reasons for the success.
Design/methodology/approach
Applying economic development theories and using archival data to examine the development strategies of the three economies.
Findings
There is no single model suitable for economic development for all, and small economies need to be strategically interventionist by either inducing development or balancing the disequilibria caused by development.
Originality/value
This is the first comparative study to examine these three fast-growing small economies. The findings lend insight into Hirschman’s theory of unbalanced growth and Stiglitz’s assertion that different economies and conditions require different development strategies.