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This study attempts to conduct a comparative analysis between dynamic and static asset allocation to achieve the long-term target return on asset liability management (ALM). This study conducts asset allocation using the ex ante expected rate of return through the outlook of future economic indicators because past economic indicators or realized rate of returns which are used as input data for expected rate of returns in the “building block” method, most adopted by domestic pension funds, does not fully reflect the future economic situation. Vector autoregression is used to estimate and forecast long-term interest rates. Furthermore, it is applied to gross domestic product and consumer price index estimation because it is widely used in financial time series data. Based on asset allocation simulations, this study derived the following insights: first, economic indicator filtering and upper-lower bound computation is needed to reduce the expected return volatility. Second, to reach the ALM goal, more stocks should be allocated than low-yielding assets. Finally, dynamic asset allocation which has been mirroring economic changes actively has a higher annual yield and risk-adjusted return than static asset allocation.

To advance marketing research and practice, this study aims to examine the application of the innovative, mobile-applicable neuroimaging method – mobile functional near-infrared spectroscopy (mfNIRS) – in the field of marketing research, providing comprehensive guidelines and practical recommendations.

A general review and investigation of when and how to use mfNIRS in business-to-consumer and business-to-business marketing settings is used to illustrate the utility of mfNIRS.

The research findings help prospective marketing and consumer neuroscience researchers to structure mfNIRS experiments, perform the analysis and interpret the obtained mfNIRS data.

The application of mfNIRS offers opportunities for marketing research that allow the exploration of neural processes and associated behaviour of customers in naturalistic settings.

The application of mfNIRS as a neuroimaging method enables the investigation of unconscious neural processes that control customer behaviour and can act as process variables for companies.

This is one of the first studies to provide comprehensive guidelines and applied practical recommendations concerning when and how to apply mfNIRS in marketing research.

Ground Penetrating Radar is a multidisciplinary Nondestructive Evaluation technique that requires knowledge of electromagnetic wave propagation, material properties and antenna theory. Under some circumstances this tool may require auxiliary algorithms to improve the interpretation of the collected data. Detection, location and definition of target’s geometrical and physical properties with a low false alarm rate are the objectives of these signal post-processing methods. Basic approaches are focused in the first two objectives while more robust and complex techniques deal with all objectives at once. This work reviews the use of Artificial Neural Networks and Machine Learning for data interpretation of Ground Penetrating Radar surveys. We show that these computational techniques have progressed GPR forward from locating and testing to imaging and diagnosis approaches.

This paper aims to examine a two-way interaction between social influencers’ number of followers (micro vs meso) and argument quality (weak vs strong) on consumers’ self-reported and brain responses to advertising posts on Instagram. Further, drawing upon source credibility theory and contemporary theories of persuasion, the Instagram users’ perceptions of the influencer’s credibility are predicted to mediate the hypothesized effects.

Through an online (N = 192) and a lab study (N = 112), the authors examined Instagram users’ responses to an advertising post from Instagram influencers in terms of perceived source credibility and electronic word-of-mouth intention, using validated multi-item scales from existing literatures and electroencephalogram (EEG) measures. The hypotheses were tested with a 2 (type of influencer: micro vs meso) × 2 (argument quality: weak vs strong) between-subject design using mediated moderated linear regression analysis.

The results highlight that meso-influencers are perceived as a credible source of information only when their product-related post provides strong argument quality. Moreover, this process involves an increase in users’ cognitive work (measured with EEG), with possible implications on marketing communication strategies and online message design.

The limitations of the work can serve as ideas for future research. First, this study did not account for the influencer’s relevance and resonance. Second, the authors studied consumer responses to online communication produced by Instagram influencers within a single product category. Another important product type distinction that requires further attention is between hedonic and utilitarian products. Finally, the two studies only used positive review content. Further research should study how consumers evaluate the source credibility of a micro- vs meso-influencer when they are exposed to negative reviews containing weak vs strong arguments.

The results suggest that marketers should carefully consider Instagram influencers based on the trade-offs between credibility and reach. Specifically, micro-influencers are perceived as more credible sources of information than meso-influencers, which means that they have greater potential to affect Instagram users’ behavior. Moreover, the results suggest that meso-influencers should leverage argument quality to enhance their credibility and draw greater positive outcomes for the products and brands they endorse.

To the best of the authors’ knowledge, this study is the first to investigate how the interaction between the type of social media influencer and the argument quality affects consumers’ self-reported and brain responses to advertising posts on Instagram. Moreover, using neuroscience, this study aims to shed light on the neurophysiological processes that drive consumer responses to product-related communication posted by different influencer types.

It is generally accepted that massage can provide a lot of benefits to human health, especially for the brain functions. Little is known about the effect of unilateral massage on the brain activities. Nowadays, Swedish massage is a modern massage technique that is popular in both treatment and research fields. The purpose of this paper is to investigate the effect of unilateral Swedish massage on brain activities with electroencephalography (EEG) recording.

In total, 18 healthy adult participants (5 men, 13 women) aged between 22 and 36 years were massaged over one side of arm, forearm, hand, neck and face. Then the same procedures were repeated to another side of the body. EEG was recorded before (baseline) and during each massage condition. The absolute power of four common brain waves consisting of δ (0.5-4 Hz), θ (4-8 Hz), α (8-13 Hz), and β activities (13-30 Hz) from the quantitative EEG analysis between baseline and each massage condition were used to compare with the paired t-test.

The study found the reduction of δ and θ powers over bilateral frontal, fronto-central, and central areas. The increments of α power over the similar brain areas were also observed. These findings indicated the generalized effect of unilateral Swedish massage for inducing relaxation. Moreover, the significant reduction of β power was also found over right central area when left-arm massage was applied. This finding revealed the initial inhibitory effect of Swedish massage over right somatosensory cortex that received sensory stimulation through massage from left side of the body.

Unilateral Swedish massage induced the inhibitory effect at the contralateral somatosensory cortex and then produced the generalized effect which is compatible with relaxation.

This study aims to investigate the correlation between neural indexes of attention and behavioral indexes of attention and detect the most informative period of brain activity in which the strongest correlation with attentive performance (behavioral index) exists. Finally, to further validate the findings, this paper aims at the prediction of different levels of attention function based on the attention score obtained from repeatable battery for the assessment of neurophysiological status (RBANS).

The present paper analyzes electroencephalogram (EEG) signals recorded by a single prefrontal channel from 105 elderly subjects while they were responding to Stroop color test which is an attention-demanded task. Beside Stroop test, subjects also performed RBANS which provides their level of functionality in different domains including attention. After data acquisition (EEG during Stroop test and RBANS attention score), the authors extract the spectral features of EEG as neural indexes of attention and subjects’ reaction time in response to Stroop test as behavioral index of attention. Then, they explore the correlation between these post-cue frequency band oscillations of EEG with elderly response time (RT). Next, the authors exploit these findings to classify RBANS attention score.

The observations of this study suggest that there is significant negative correlation between alpha gamma ratio (AGR) and RT (p < 0.0001), theta beta ratio (TBR) is positively correlated with subjects’ RT (p < 0.0001), these correlations are stronger in a 500ms period right after triggering the cue (question onset in Stroop test), and 4) TBR and AGR can be effectively used to predict RBANS attention score.

Because of the experiment design, the pre-cue EEG of the next trail was very much overlapped with the post-cue EEG of the current trail. Therefore, the authors could analyze only post-cue EEG. In future study, it would be interesting to investigate the predictability of subject’s future performance from pre-cue EEG and mental preparation.

This study provides an insight into the research on detection of human attention level from EEG instead of conventional neurophysiological tests. It has also potential to be used in implementation of feasible and efficient EEG-based brain computer interface training systems for elderly.

To the best of the authors’ knowledge, this study is among very few attempts for early prediction of cognitive decline in the domain of attention from brain activity (EEG) instead of conventional tests which are prone to human errors.