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Article
Publication date: 30 January 2019

Fangzhou Huang

This paper aims to investigate patterns in UK stock returns related to downside risk, with particular focus on stock returns during financial crises.

Abstract

Purpose

This paper aims to investigate patterns in UK stock returns related to downside risk, with particular focus on stock returns during financial crises.

Design/methodology/approach

First, stocks are sorted into five quintile portfolios based on the relevant beta values (classic beta, downside beta and upside beta, calculated by the moving window approach). Second, patterns of portfolio returns are examined during various sub-periods. Finally, predictive powers of beta and downside beta are examined.

Findings

The downside risk is observed to have a significant positive impact on contemporaneous stock returns and a negative impact on future returns in general. In contrast, an inverse relationship between risk and return is observed when stocks are sorted by beta, contrary to the classic literature. UK stock returns exhibit clear time sensitivity, especially during financial crises.

Originality/value

This paper focuses on the impact of the downside risk on UK stock returns, assessed via a comprehensive sub-period analysis. This paper fills the gap in the existing literature, in which very few studies examine the time sensitivity in relation to the downside risk and the risk-return anomaly in the UK stock market using a long sample period.

Details

Review of Accounting and Finance, vol. 18 no. 1
Type: Research Article
ISSN: 1475-7702

Keywords

Article
Publication date: 7 February 2023

Hui Xiao, Xiaotong Guo, Fangzhou Chen, Weiwei Zhang, Hao Liu, Zejian Chen and Jiahao Liu

Traditional nondestructive failure localization techniques are increasingly difficult to meet the requirements of high density and integration of system in package (SIP) devices…

Abstract

Purpose

Traditional nondestructive failure localization techniques are increasingly difficult to meet the requirements of high density and integration of system in package (SIP) devices in terms of resolution and accuracy. Time domain reflection (TDR) is recognized as a novel positioning analysis technology gradually being used in the electronics industry because of the good compatibility, high accuracy and high efficiency. However, there are limited reports focus on the application of TDR technology to SiP devices.

Design/methodology/approach

In this study, the authors used the TDR technique to locate the failure of SiP devices, and the results showed that the TDR technique can accurately locate the cracking of internal solder joints of SiP devices.

Findings

The measured transmission rate of electromagnetic wave signal was 9.56 × 107 m/s in the experimental SiP devices. In addition, the TDR technique successfully located the failure point, which was mainly caused by the cracking of the solder joint at the edge of the SiP device after 1,500 thermal cycles.

Originality/value

TDR technology is creatively applied to SiP device failure location, and quantitative analysis is realized.

Details

Microelectronics International, vol. 40 no. 2
Type: Research Article
ISSN: 1356-5362

Keywords

Content available
Book part
Publication date: 29 February 2008

Abstract

Details

Forecasting in the Presence of Structural Breaks and Model Uncertainty
Type: Book
ISBN: 978-1-84950-540-6

Book part
Publication date: 29 February 2008

Abstract

Details

Forecasting in the Presence of Structural Breaks and Model Uncertainty
Type: Book
ISBN: 978-1-84950-540-6

Article
Publication date: 14 October 2020

Zhijie Wang

The aim of this study is to explore students' expectations and perceived effectiveness of computer-assisted review tools, and the differences in reliability and validity between…

2084

Abstract

Purpose

The aim of this study is to explore students' expectations and perceived effectiveness of computer-assisted review tools, and the differences in reliability and validity between human evaluation and automatic evaluation, to find a way to improve students' English writing ability.

Design/methodology/approach

Based on the expectancy disconfirmation theory (EDT) and Intelligent Computer-Assisted Language Learning (ICALL) theory, an experiment is conducted through the observation method, semistructured interview method and questionnaire survey method. In the experiment, respondents were asked to write and submit four essays on three online automated essay evaluation (AEE) systems in total, one essay every two weeks. Also, two teacher raters were invited to score the first and last papers of each student. The respondents' feedbacks were investigated to confirm the effectiveness of the AEE system; the evaluation results of the AEE systems and teachers were compared; descriptive statistics was used to analyze the experimental data.

Findings

The experiment revealed that the respondents held high expectations for the computer-assisted evaluation tools, and the effectiveness of computer scoring feedback on students was higher than that of teacher scoring feedback. Moreover, at the end of the writing project, the students' independent learning ability and English writing ability were significantly improved. Besides, there was a positive correlation between students' initial expectations of computer-assisted learning tools and the final evaluation of learning results.

Originality/value

The innovation lies in the use of observation methods, questionnaire survey methods, data analysis, and other methods for the experiment, and the combination of deep learning theory, EDT and descriptive statistics, which has particular reference value for future works.

Article
Publication date: 31 March 2020

Min Guo, Naiding Yang and Yanlu Zhang

The purpose of this paper is to explore that relational capability plays a mediator role in the relationship between focal enterprises' control on knowledge transfer risks in R&D…

Abstract

Purpose

The purpose of this paper is to explore that relational capability plays a mediator role in the relationship between focal enterprises' control on knowledge transfer risks in R&D network.

Design/methodology/approach

The paper reviews the related literature from which it proposes a theoretical hypothesis and conceptual framework which is tested empirically adopting regression methodology by mathematical statistics software.

Findings

The results reveal that focal enterprises' control (core technological capability and network position) have a positive effect on knowledge transfer risks without the mediation of relational capability. Moreover, relational capability mediates the positive relationship between core technological capability and knowledge transfer risks.

Research limitations/implications

The cross-sectional data of this research has difficult in testing causality between the variables, and future research should take account of the potential factors that can impact on knowledge transfer risks.

Practical implications

The results provide more valuable information to managers in alleviating knowledge transfer risks in R&D networks. For one thing, the study indicates how focal firms' control (core technological capability and network position) can be taken advantage of improving R&D efficiency and reducing the knowledge transfer risks. For another, the results emphasize that relational capability plays an important role in interacting with cooperative enterprises in the process of R&D activities.

Originality/value

Few studies present a theoretical discussion on focal firms control as the important determinants of knowledge transfer risks especially in the R&D network. Moreover it expands the related risk management theory by relational capability that mediates the relationship between focal firms control and knowledge transfer risks.

Details

European Journal of Innovation Management, vol. 24 no. 3
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 1 May 2024

Shailendra Singh, Mahesh Sarva and Nitin Gupta

The purpose of this paper is to systematically analyze the literature around regulatory compliance and market manipulation in capital markets through the use of bibliometrics and…

Abstract

Purpose

The purpose of this paper is to systematically analyze the literature around regulatory compliance and market manipulation in capital markets through the use of bibliometrics and propose future research directions. Under the domain of capital markets, this theme is a niche area of research where greater academic investigations are required. Most of the research is fragmented and limited to a few conventional aspects only. To address this gap, this study engages in a large-scale systematic literature review approach to collect and analyze the research corpus in the post-2000 era.

Design/methodology/approach

The big data corpus comprising research articles has been extracted from the scientific Scopus database and analyzed using the VoSviewer application. The literature around the subject has been presented using bibliometrics to give useful insights on the most popular research work and articles, top contributing journals, authors, institutions and countries leading to identification of gaps and potential research areas.

Findings

Based on the review, this study concludes that, even in an era of global market integration and disruptive technological advancements, many important aspects of this subject remain significantly underexplored. Over the past two decades, research has lagged behind the evolution of capital market crime and market regulations. Finally, based on the findings, the study suggests important future research directions as well as a few research questions. This includes market manipulation, market regulations and new-age technologies, all of which could be very useful to researchers in this field and generate key inputs for stock market regulators.

Research limitations/implications

The limitation of this research is that it is based on Scopus database so the possibility of omission of some literature cannot be completely ruled out. More advanced machine learning techniques could be applied to decode the finer aspects of the studies undertaken so far.

Practical implications

Increased integration among global markets, fast-paced technological disruptions and complexity of financial crimes in stock markets have put immense pressure on market regulators. As economies and equity markets evolve, good research investigations can aid in a better understanding of market manipulation and regulatory compliance. The proposed research directions will be very useful to researchers in this field as well as generate key inputs for stock market regulators to deal with market misbehavior.

Originality/value

This study has adopted a period-wise broad-based scientific approach to identify some of the most pertinent gaps in the subject and has proposed practical areas of study to strengthen the literature in the said field.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

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