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Book part
Publication date: 24 June 2024

Noel Scott, Brent Moyle, Ana Cláudia Campos, Liubov Skavronskaya and Biqiang Liu

Abstract

Details

Cognitive Psychology and Tourism
Type: Book
ISBN: 978-1-80262-579-0

Article
Publication date: 20 March 2023

Xu Zhang, Mark Goh, Sijun Bai and Zonghan Wang

Risk response decisions (RRDs) are vital for project risk mitigation. Although past research has focused on RRDs for independent single projects, it has scarcely explored how to…

Abstract

Purpose

Risk response decisions (RRDs) are vital for project risk mitigation. Although past research has focused on RRDs for independent single projects, it has scarcely explored how to make RRDs for single projects in project portfolios (SPPPs). Consequently, this study aims to bridge the gap in extant literature by developing an integrated approach to select risk response strategies (RRSs) for SPPPs considering objective adjustments and project interdependencies (PIs).

Design/methodology/approach

An integrated quality function deployment (QFD) method was used throughout this study. More so, a balanced score card (BSC) and stratified-Z-numbers-full consistency method (SZFUCOM) was applied to identify SPPP success criteria (SP3SC) to determine their weights. In addition, a spherical fuzzy set-design structure matrix (SFDSM) was used to quantify the correlation between the risks and the relationship between the risks and the predecessor projects. Consequently, the relationships between the risks and SP3SC and RRSs were described by the spherical fuzzy set (SFS) and Z-numbers, respectively. Besides, the results are weaved into QFD to transform SP3SC into risks and then into RRSs, while a linear optimization model is used to obtain the optimal RRSs. Lastly, a construction project portfolio (PP) was used to test the veracity of the results to prove their validity.

Findings

The approach to RRDs for single projects is observed to be different from that of SPPPs. In addition, this study finds that project portfolio objective adjustments (PPOAs) and PIs have significant impacts on RRDs given that they influence the risk priorities of independent single projects and SPPPs. Moreover, the application of an integrated QFD effectively synthesized the results from the findings of this study, as well as enabled companies to determine robust RRSs. Finally, the consistency results of the SZFUCOM were better than those of the triangular fuzzy number-full consistency method.

Originality/value

The study innovatively explores the method of RRDs for SPPP, which has been ignored by past research. SP3SC highly compatible with PP success is determined. Z-numbers are first used to evaluate the effect of RRSs to enhance the robustness of RRDs. The study proposes a method of RRDs comprehensively considering PPOAs and PIs, which provides robust methodological guidance for SPPP managers to control risks.

Details

Kybernetes, vol. 53 no. 7
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 20 June 2024

Hugo Gobato Souto and Amir Moradi

This study aims to critically evaluate the competitiveness of Transformer-based models in financial forecasting, specifically in the context of stock realized volatility…

Abstract

Purpose

This study aims to critically evaluate the competitiveness of Transformer-based models in financial forecasting, specifically in the context of stock realized volatility forecasting. It seeks to challenge and extend upon the assertions of Zeng et al. (2023) regarding the purported limitations of these models in handling temporal information in financial time series.

Design/methodology/approach

Employing a robust methodological framework, the study systematically compares a range of Transformer models, including first-generation and advanced iterations like Informer, Autoformer, and PatchTST, against benchmark models (HAR, NBEATSx, NHITS, and TimesNet). The evaluation encompasses 80 different stocks, four error metrics, four statistical tests, and three robustness tests designed to reflect diverse market conditions and data availability scenarios.

Findings

The research uncovers that while first-generation Transformer models, like TFT, underperform in financial forecasting, second-generation models like Informer, Autoformer, and PatchTST demonstrate remarkable efficacy, especially in scenarios characterized by limited historical data and market volatility. The study also highlights the nuanced performance of these models across different forecasting horizons and error metrics, showcasing their potential as robust tools in financial forecasting, which contradicts the findings of Zeng et al. (2023)

Originality/value

This paper contributes to the financial forecasting literature by providing a comprehensive analysis of the applicability of Transformer-based models in this domain. It offers new insights into the capabilities of these models, especially their adaptability to different market conditions and forecasting requirements, challenging the existing skepticism created by Zeng et al. (2023) about their utility in financial forecasting.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

Keywords

Book part
Publication date: 17 June 2024

Nidhi Mittal and Sangeeta Mittal

Research and development (R&D) is a vital strategy for firms to sustain their competitive locus and profitability in the global marketplace. Therefore, the existing research is…

Abstract

Purpose

Research and development (R&D) is a vital strategy for firms to sustain their competitive locus and profitability in the global marketplace. Therefore, the existing research is engrossed in the correlation between firm performance (FP) and R&D intensity (RDI) meta-analysis. It also examined the ‘Type of Firm’ as a moderator in this relationship.

Need for the Study

This study is motivated by its potential to address existing knowledge gaps, guide decision-making, influence policy and contribute to advancing theoretical and practical insights in the domain of business, economics and innovation.

Methodology

This study is based on the secondary data. The researcher uses ‘Meta- Essentials 1.5’ for meta-analysis covering the studies of developed and emerging economies from 1985 to 2022.

Findings

The outcome conveys a small effect of magnitude between RDI and FP. It also indicates the positively significant linkage between them, directing that investing in R&D projects leads to improvement in the performance of companies. It also points out that private firms engaging in R&D activities have a negative while public firms have a positive correlation with their performance.

Significance

Understanding this linkage is imperative as it aids managers in making strategic decisions, the government in funding research-related schemes and investors in choosing R&D projects for investment.

Article
Publication date: 6 February 2024

Lin Xue and Feng Zhang

With the increasing number of Web services, correct and efficient classification of Web services is crucial to improve the efficiency of service discovery. However, existing Web…

Abstract

Purpose

With the increasing number of Web services, correct and efficient classification of Web services is crucial to improve the efficiency of service discovery. However, existing Web service classification approaches ignore the class overlap in Web services, resulting in poor accuracy of classification in practice. This paper aims to provide an approach to address this issue.

Design/methodology/approach

This paper proposes a label confusion and priori correction-based Web service classification approach. First, functional semantic representations of Web services descriptions are obtained based on BERT. Then, the ability of the model is enhanced to recognize and classify overlapping instances by using label confusion learning techniques; Finally, the predictive results are corrected based on the label prior distribution to further improve service classification effectiveness.

Findings

Experiments based on the ProgrammableWeb data set show that the proposed model demonstrates 4.3%, 3.2% and 1% improvement in Macro-F1 value compared to the ServeNet-BERT, BERT-DPCNN and CARL-NET, respectively.

Originality/value

This paper proposes a Web service classification approach for the overlapping categories of Web services and improve the accuracy of Web services classification.

Details

International Journal of Web Information Systems, vol. 20 no. 3
Type: Research Article
ISSN: 1744-0084

Keywords

Article
Publication date: 3 November 2023

Xiaojie Xu and Yun Zhang

The Chinese housing market has gone through rapid growth during the past decade, and house price forecasting has evolved to be a significant issue that draws enormous attention…

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Abstract

Purpose

The Chinese housing market has gone through rapid growth during the past decade, and house price forecasting has evolved to be a significant issue that draws enormous attention from investors, policy makers and researchers. This study investigates neural networks for composite property price index forecasting from ten major Chinese cities for the period of July 2005–April 2021.

Design/methodology/approach

The goal is to build simple and accurate neural network models that contribute to pure technical forecasts of composite property prices. To facilitate the analysis, the authors consider different model settings across algorithms, delays, hidden neurons and data spitting ratios.

Findings

The authors arrive at a pretty simple neural network with six delays and three hidden neurons, which generates rather stable performance of average relative root mean square errors across the ten cities below 1% for the training, validation and testing phases.

Originality/value

Results here could be utilized on a standalone basis or combined with fundamental forecasts to help form perspectives of composite property price trends and conduct policy analysis.

Details

Property Management, vol. 42 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 18 December 2023

Xiaojie Xu and Yun Zhang

This study aims to investigate dynamic relations among office property price indices of 10 major cities in China for the years 2005–2021.

Abstract

Purpose

This study aims to investigate dynamic relations among office property price indices of 10 major cities in China for the years 2005–2021.

Design/methodology/approach

Using monthly data, the authors adopt vector error correction modeling and the directed acyclic graph for the characterization of contemporaneous causality among the 10 indices.

Findings

The PC algorithm identifies the causal pattern, and the linear non-Gaussian acyclic model algorithm further determines the causal path from which we perform innovation accounting analysis. Sophisticated price dynamics are found in price adjustment processes following price shocks, which are generally dominated by the top tier of cities.

Originality/value

This suggests that policies on office property prices, in the long run, might need to be planned with particular attention paid to the top tier of cities.

Article
Publication date: 10 July 2023

Yuzhen Long, Chunli Yang, Xiangchun Li, Weidong Lu, Qi Zhang and Jiaxing Gao

Coal is the basic energy and essential resource in China, which is crucial to the economic lifeline and energy security of the country. Coal mining has been ever exposed to…

Abstract

Purpose

Coal is the basic energy and essential resource in China, which is crucial to the economic lifeline and energy security of the country. Coal mining has been ever exposed to potential safety risks owing to the complex geologic environment. Effective safety supervision is a vital guarantee for safe production in coal mines. This paper aims to explore the impacts of the internet+ coal mine safety supervision (CMSS) mode that is being emerged in China.

Design/methodology/approach

In this study, the key factors influencing CMSS are identified by social network analysis. They are used to develop a multiple linear regression model of law enforcement frequency for conventional CMSS mode, which is then modified by an analytical hierarchy process to predict the law enforcement frequency of internet+ CMSS mode.

Findings

The regression model demonstrated high accuracy and reliability in predicting law enforcement frequency. Comparative analysis revealed that the law enforcement frequency in the internet+ mode was approximately 40% lower than the conventional mode. This reduction suggests a potential improvement in cost-efficiency, and the difference is expected to become even more significant with an increase in law enforcement frequency.

Originality/value

To the best of the authors’ knowledge, this is one of the few available pieces of research which explore the cost-efficiency of CMSS by forecasting law enforcement frequency. The study results provide a theoretical basis for promoting the internet+ CMSS mode to realize the healthy and sustainable development of the coal mining industry.

Details

International Journal of Energy Sector Management, vol. 18 no. 4
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 4 April 2023

Zohre Farzinfar, Amirreza Konjkav Monfared and Seyed Mohammad Tabataba’i-Nasab

The present study aims to identify the dimensions of destination psychological ownership (DPO) from tourists’ perspectives and to develop a reliable and valid measurement scale.

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Abstract

Purpose

The present study aims to identify the dimensions of destination psychological ownership (DPO) from tourists’ perspectives and to develop a reliable and valid measurement scale.

Design/methodology/approach

The mixed method has been applied in this study for the development of a scale to measure psychological ownership (PO) of tourists. The first stage includes identifying the PO dimensions of tourists toward the tourist destinations through in-depth interviews with experts (university professors, managers and experts in the tourism industry). Theme analysis was applied to analyze the data in this stage. A quantitative survey was conducted among tourists during the second stage. Accordingly, a questionnaire was designed and its reliability and validity were investigated. Confirmatory factor analysis and structural equation modeling were used to examine the structural model and its validity.

Findings

The findings revealed that the DPO from tourists’ perspectives includes six dimensions for the sense of attachment, responsibility, the sense of trust, the sense of honor, the sense of gratification and self-identity toward tourist destinations. The validity of the conceptual model was confirmed according to the results of the quantitative section of the study.

Originality/value

The present study is one of the limited numbers of studies coping with PO, especially in the field of tourism, from the view of the consumer. The present study identifies the dimensions of the DPO of tourists and develops an instrument to measure them. Therefore, the developed questionnaire can be used as a valid and reliable instrument to measure the DPO in future research.

Details

Kybernetes, vol. 53 no. 7
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 10 January 2023

Sheng Xu, Linfeng Zhou and Patrick X.W. Zou

The quality liability of prefabricated components (PCs) is a major issue among key stakeholders. The blockchain-based quality tracking systems are supposed to support a more…

Abstract

Purpose

The quality liability of prefabricated components (PCs) is a major issue among key stakeholders. The blockchain-based quality tracking systems are supposed to support a more transparent and trusting quality control process. However, many factors affect the stakeholders' willingness toward the adoption of such quality tracking systems. The purpose of this research is to investigate the key factors that influence the stakeholders' adoption decisions toward the application of the quality tracking system in PCs and develop coping strategies.

Design/methodology/approach

An evolutionary game model is established that includes the manufacturer, constructor and developer. Four scenarios of equilibriums and the game's evolutionary stable strategies are analyzed, and the corresponding stability conditions are then obtained. Based on the tripartite game model, two representative projects are used as case studies to simulate how different factors affect the stakeholders' decisions.

Findings

First, trade-offs between cost and benefits were the most prominent factor in the adoption decision-making. Second, the advancement of technologies would compensate for their immaturity. Third, subsidy and penalty provision of the developer and high-level trust both incentivize the stakeholders to adopt the quality tracking systems.

Originality/value

This research investigates the influence of technology, environment and participant related factors on the adoption decisions of the quality tracking system for PCs and discovered that technology maturity and advancement played an essential role. It is expected that the research findings would be of value to policy makers and project management personnel for better quality control of prefabricated construction.

Details

Engineering, Construction and Architectural Management, vol. 31 no. 6
Type: Research Article
ISSN: 0969-9988

Keywords

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