Search results

This research examines stock traders' disposition effects and contrarian/momentum behavior in the Taiwan Stock Exchange (TWSE). Specifically, we first investigate disposition effects across all trader types and then examine the relationships between disposition effects, trader types, and order characteristics. Next, we explore contrarian and/or momentum behavior and analyze the relationships among the contrarian/momentum behavior, investor type, and order characteristics. Finally, the links among trader types, order characteristics, and investment performance are detected. This chapter yields the following findings. (1) Individual investors exhibit the strongest disposition effects compared to other investors. (2) Foreign investors, investment trusts, and individual investors tend to use large orders to sell loser stocks. (3) Investment trusts are inclined to be momentum traders, while individual investors tend to perform contrarian strategies. (4) Institutional aggressive and large orders perform better than individuals' orders. (5) The performance of foreign investors' selling decisions is better than that of retail investors.

The authors propose to estimate a varying coefficient panel data model with different smoothing variables and fixed effects using a two-step approach. The pilot step estimates the varying coefficients by a series method. We then use the pilot estimates to perform a one-step backfitting through local linear kernel smoothing, which is shown to be oracle efficient in the sense of being asymptotically equivalent to the estimate knowing the other components of the varying coefficients. In both steps, the authors remove the fixed effects through properly constructed weights. The authors obtain the asymptotic properties of both the pilot and efficient estimators. The Monte Carlo simulations show that the proposed estimator performs well. The authors illustrate their applicability by estimating a varying coefficient production frontier using a panel data, without assuming distributions of the efficiency and error terms.

Purpose: The purpose of this study is to explore the role of internal branding (IB) in fostering branding citizenship behavior in the hospitality context as well as the mechanisms underlying the relationship.

Design/methodology/approach: This study obtained empirical evidence from 377 hotel employees in North Cyprus.

Findings: Our findings support the positive relationship between IB and brand citizenship behavior (BCB). The evidence was found for a dual and sequential mediating role of brand trust and brand commitment. Moreover, the organizational climate serviced as a moderator to influence the positive relationships between IB and BCB.

Practical implication: This study has shown that employees are rewarding firms involved in IB initiatives in the form of BCB – directly and indirectly –through trust and commitment. This finding can advance managers’ understanding, enabling them to better manage their IB initiatives to achieve the most effective outcomes.

Originality/value: The research advances convergence between IB and BCB research streams, which has been under-explored in the tourism context. Besides, it extends the IB and brand citizenship literature through a novel dual and sequential mediation mechanism and organizational climate as a novel moderator.

Evaluating preservice teachers’ performance is essential for quality teacher education programs. Since the 1980s, China has explored a new, more appropriate and effective evaluation system in teacher education. Traditional assessment systems have shortcomings, such as being one-shot, single measures, with more emphasis on quantitative than qualitative assessments. These limitations affect students’ learning motivation and progress, and subsequently the quality of teachers and teacher education. Under China’s New Curriculum Reform, preservice teacher evaluation is being adapted accordingly. Thus, more effective and easy-to-implement evaluation methods will be examined. Portfolios are a relatively new assessment tool, originating in the West. An increasing number of teacher education programs in China has adopted portfolio assessment, but efforts are needed to improve its implementation. Standards, for example, are necessary to measure its effectiveness. This chapter reviews the teacher knowledge literature and how it relates to portfolio building, describes and explains the use of portfolios in teacher education, and then shows a typical portfolio template and its content to illustrate its use in China. Finally, the issues and challenges encountered while using portfolio assessment are discussed. Any lessons for international teacher education programs experiencing similar assessment issues with their evaluation systems are shared.

In a pandemic framework (COVID-19), this chapter explores the impact of the global economy and socio-cultures concerning three axes: recreational, tourism, and hospitality. Although we slowly see an economic revival, it is well known that this sector of study is very susceptible to being affected by the context of nations. Following restrictions and measures taken by governments around the world to reduce the number of cases of coronavirus infections, many nations closed their borders, affecting international travel and by 2020 tourism had been reduced to the near cessation of operations due to the imminent fear of this poorly studied disease, and the service sector was negatively affected. It should be added that, according to the World Tourism Organization's projections, a decrease of between 20 and 30% is forecast for 2020 compared to the previous year.

This chapter proposes a protocol based on blockchain technology applied to corporate social responsibility (CSR). The first part discusses the characteristics associated with CSR actions and the main difficulties its development faces, such as transparency, security, fault tolerance, among others. Subsequently, the authors describe the characteristics and concepts related to blockchain-based developments to later describe our framework for the control and development of CSR actions based on blockchain. Herein, the authors also describe how to publicly and privately identify the participating elements of CSR and the operations and resources necessary for the implementation and operation of the proposed protocol.

Purpose: FinTech is exploding all over the world. FinTech companies play a critical role in growing the banking industry. This chapter reviews existing literature on FinTech in banking, particularly its publication trend, journal productivity and impact, affiliated organisations and related themes.

Need for the Study: FinTech is reshaping the banking sector as banks move towards digitisation. FinTech has eliminated the need for paper, reduced the requirement for physical presence, and destroyed the necessity for cash. Several researchers have studied the features and benefits of FinTech technologies in the banking field. So, there is a need to analyse the available literature to identify the scope of further research in this field.

Methodology: For a comprehensive review, Bibliometric and content analysis of 77 open access green articles collected through the structured database of ‘Dimensions’ is done. These articles are published in the UGC Journal List Group II.

Findings: It is revealed that the execution of FinTech is continuously increasing in the banking sector, which has resulted in automation in various banking activities. The study revolves around technology and Banking, Financial Inclusion and Growth, and the Impact of the Financial Crisis on Banking and Peer-to-Peer (P2P) lending.

Practical Implications: The conclusions of this study can help academia and industry improve their understanding of FinTech in Banking, specifically its publication trend, geographical distribution, and creation of coherent themes. Careful analysis of collected articles will help to explore the scope of further research.

The interbank market in China experienced remarkable squeezes in liquidity in 2013. In particular, the overnight Shanghai Interbank Offered Rate reached a historical high in June. Banks were unprepared, facing the occurrence of various liquidity demands simultaneously. Effects of the liquidity squeeze spread across markets, and concerns were expressed about the health of the banking sector in the world’s second largest economy. Yet the central bank of China maintained an unswerving view that the tightness of liquidity was only structural, and could be overcome by the commercial banks themselves. While it may be too early to judge whether the central bank was correct, or whether there is systematic liquidity risk in the banking sector, markets received a clear signal from the People’s Bank of China. The central bank stopped acting as a ‘perpetual put option’ for commercial banks and refused to take responsibility to satisfy liquidity needs in the interbank market. Its intention is clear; that is, to adjust monetary policy and support economic reform in China. The new Chinese government seems determined to steer a new course away from the previous growth episode. Its resolution has been published and actions have been taken. Among them, the central bank’s changes to monetary policy have received responses from the markets, and the People’s Bank of China is now in the vanguard of a battle to squeeze liquidity. It is difficult to predict what further actions the government will take. However, it should be aware that the driving force of economic reform in China comes from structural change and productivity improvement. Without follow-up policies, complication in the financial system could undermine the central bank’s effort and international capital flows may quickly substitute the opening position of the central bank in the interbank market. More wisdom is required if China is to win the battle for deleveraging and structural reform.