Search results

21 – 30 of over 8000
Book part
Publication date: 28 September 2020

Dazhi Zheng, Thomas C. Chiang and Edward Nelling

This chapter examines a multifactor model for stock returns in nine Asian markets (Japan, China, South Korea, Hong Kong, Taiwan, Singapore, Indonesia, Malaysia, and Thailand). The…

Abstract

This chapter examines a multifactor model for stock returns in nine Asian markets (Japan, China, South Korea, Hong Kong, Taiwan, Singapore, Indonesia, Malaysia, and Thailand). The authors develop a model using the market risk premium, size, book-to-market, profitability, investment, momentum, price-to-earnings ratio, and dividend yield factors for each market. The empirical results suggest that this eight-factor model can better explain the variations of stock returns than the original Fama–French three-factor model. Factor-based models using local data outperform those using data from US markets. In addition, the evidence suggests that the eight-factor model can better explain stock returns when the market is under stress.

Article
Publication date: 9 January 2019

Alain Coën and Patrick Lecomte

The purpose of this paper is to analyze and revisit the risk and performance of publicly traded real estate companies from 14 countries over the period 2000–2015, marked by the…

Abstract

Purpose

The purpose of this paper is to analyze and revisit the risk and performance of publicly traded real estate companies from 14 countries over the period 2000–2015, marked by the unprecedented Global Financial Crisis, in presence of errors-in-variables (EIV) and illiquidity (measured by serial correlation, following Getmansky et al. (2004)).

Design/methodology/approach

The authors extend the seminal work of Bond et al. (2003), and shed a new light on the relative performance of listed real estate before and after the GFC. First, the authors suggest the use of various asset pricing models (APM) including the Fama and French (2015) five-factor APM with global and country-level factors. Second, the authors implement unbiased estimators to correct for the econometric bias induced by EIV in APM. Third, the authors deal with the impact of illiquidity (measured by serial correlation) on the risk properties of international securitized real estate returns.

Findings

The findings show that post-GFC, a radical change in international listed real estate risk factors has resulted in more homogeneous markets internationally and less diversification opportunities for international investors.

Practical implications

The authors suggest the use of robust linear APM (including the Fama and French (2015) five-factor APM) to analyze the risk and performance of publicly traded real estate companies from 14 countries over the period 2000–2015.

Originality/value

The authors analyze and revisit the risk and performance of publicly traded real estate companies from 14 countries over the period 2000–2015, marked by the unprecedented Global Financial Crisis.

Details

Journal of Property Investment & Finance, vol. 37 no. 1
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 9 October 2009

Kayvan Miri‐Lavassani, Vinod Kumar, Bahar Movahedi and Uma Kumar

Though many studies and reports have been published about the scale of identity fraud (IDF), no work has been done on developing models to measure IDF. The purpose of this paper…

1648

Abstract

Purpose

Though many studies and reports have been published about the scale of identity fraud (IDF), no work has been done on developing models to measure IDF. The purpose of this paper is to propose a measurement model for IDF and test the validity of that measurement model.

Design/methodology/approach

After providing a background on the concepts of IDF, the paper discusses the related term, identity theft. Next, a measurement model is developed, based on the current practice of measurement of IDF in four countries. Exploratory factor analysis (EFA) is used in identifying the indicators and factors of IDF. After the EFA is conducted, confirmatory factor analysis is employed to test the validity of the measurement model. These tests are conducted using the data collected from Canadian financial institutions.

Findings

The review of the current empirical studies suggests that IDF should be assessed using a measurement model with 33 indicators to measure five factors of IDF. However, the analysis of Canadian financial institutions suggests that a measurement model that includes 27 indicators and four factors is most appropriate for the data.

Research limitations/implications

The measurement model developed in the present paper is based on an examination of a sample of financial institutions in Canada. Hence, the results of this paper cannot be generalized to organizations in other sectors of the economy. Further studies in other sectors of the economy are required to identify industry‐specific measurement model.

Practical implications

This paper is the first approach toward developing a model for measuring IDF.

Originality/value

This paper is the first study that attempts to scientifically identify and validate a measurement system in the area of IDF.

Details

Journal of Financial Crime, vol. 16 no. 4
Type: Research Article
ISSN: 1359-0790

Keywords

Article
Publication date: 1 January 1991

N.A. Stanton, G. Mathews, N.C. Graham and C. Brimelow

This article is an executive summary of a full scientific paperthat appeared in the journal Personality & IndividualDifferences. A study was conducted to examine the factor…

1178

Abstract

This article is an executive summary of a full scientific paper that appeared in the journal Personality & Individual Differences. A study was conducted to examine the factor structure of the Occupational Personality Questionnaire (OPQ) on a sample of 94 British undergraduates. The results indicated that five factors should be extracted, providing further evidence for the “Big Five” structural model of personality. This lends support for the use of the OPQ Pentagon model (Extroversion, Vigorous, Methodical, Emotional Stability and Abstract), but use of the Concept model (containing 30 scales) cannot be recommended.

Details

Journal of Managerial Psychology, vol. 6 no. 1
Type: Research Article
ISSN: 0268-3946

Keywords

Article
Publication date: 30 December 2020

Sohee Park, Gary N. McLean and Baiyin Yang

Managerial coaching has been popularized as a way of motivating, developing and retaining employees in organizations. Yet, there has been a lack of empirical studies to examine…

2481

Abstract

Purpose

Managerial coaching has been popularized as a way of motivating, developing and retaining employees in organizations. Yet, there has been a lack of empirical studies to examine the linkage between managerial coaching and its potential impact on employees. This study aims to investigate the interrelationships among managerial coaching, employees’ personal learning and organizational commitment. This study also attempts to revise an existing instrument for measuring coaching skills in organizations created by McLean et al. (2005) to assess managers’ coaching skills.

Design/methodology/approach

Data analyzes were based on 187 employees of a top global technology organization headquartered in the USA. The existing instrument for measuring coaching skills was revised and confirmed through a series of efforts including expert reviews, pilot tests and assessing its reliability and validity. Structural equation modeling was used to examine the relationships among managerial coaching skills and employees’ personal learning and organizational commitment.

Findings

This study identified five dimensions of managerial coaching skills and validated the revised instrument measuring coaching skills in organizations. It also demonstrated that managers’ utilization of managerial coaching skills had a direct effect on employees’ learning and organizational commitment and impacted employees’ organizational commitment through personal learning.

Originality/value

This study examined the interrelationships among managerial coaching and employees’ personal learning and organizational commitment in organizations. In doing so, this study unveiled the process of how managers’ coaching affects employees’ development and attitudes at work. This study also identified five coaching skills as a tool to assess the level of managerial coaching.

Details

European Journal of Training and Development, vol. 45 no. 8/9
Type: Research Article
ISSN: 2046-9012

Keywords

Article
Publication date: 6 June 2016

Hao-Chen Huang

In recent years, the freemium model is popular with online users in internet markets. Regarding operation, the characteristics of the freemium business model are the focus of all…

3660

Abstract

Purpose

In recent years, the freemium model is popular with online users in internet markets. Regarding operation, the characteristics of the freemium business model are the focus of all websites and software managers. However, research lacks the literature on the development of the dimensions of the freemium business model and validation of measurement. Hence, the purpose of this paper is to probe into the development of the dimensions of the freemium business model and validate the measurement.

Design/methodology/approach

First, by related literature and practical observations, this study reorganizes the characteristics of the freemium business model and develops dimensions and items of the freemium business model to design the items of scale. The development of scale is based on the procedures of standardized testing, including draft, expert consultation, and pretest and test analysis, in order to test the reliability and validity of the scale. This study treated online users as the questionnaire subjects and analyzed 1,016 valid questionnaires.

Findings

Regarding empirical analysis, confirmatory factor analysis is conducted to test the internal quality of the model, including composite reliability, convergent validity, and discriminant validity. According to the empirical result, the freemium business model can be divided into basic free tier, two-sided markets, revenue sharing, service convenience, and network effect, which are the key factors of users’ selection of freemium products or services. This study developed 25 items of scale for the freemium business model.

Originality/value

Finally, this study plans to develop a scale of the freemium business model, which can serve as an appropriate measurement tool to measure the freemium business model, as well as help websites and software developers to plan or execute the introduction of freemium products and services. Hence, it can develop and design products and services meeting the needs of online consumers. Website and software managers can adjust their products and services to satisfy online users’ needs.

Details

Internet Research, vol. 26 no. 3
Type: Research Article
ISSN: 1066-2243

Keywords

Article
Publication date: 16 January 2017

Ruchi Jain Garg, Vinod Kumar and Vandana

The purpose of this paper is to develop and validate a scale involving the factors affecting usage of e-resources.

2461

Abstract

Purpose

The purpose of this paper is to develop and validate a scale involving the factors affecting usage of e-resources.

Design/methodology/approach

The present study identifies five factors affecting the usage of e-resources: training modes, awareness, influencers, utilitarian benefits, and experiential and hedonic benefits. To generate measurement items, two focus group discussions were carried out which resulted in 20 items. To empirically ensure reliability and validity of scale, data were collected from 347 postgraduate students actively using e-resources. To test reliability of scale, internal consistency reliability and construct reliability were examined. The construct validity of scale (which includes convergent validity and discriminant validity) was verified through confirmatory factor analysis using structure equation modeling.

Findings

Findings of the study present a statistically reliable and valid scale consisting of five factors and 18 items.

Originality/value

The present study is one of the distinctive studies on introducing a scale employing factors affecting usage of e-resources.

Details

Aslib Journal of Information Management, vol. 69 no. 1
Type: Research Article
ISSN: 2050-3806

Keywords

Article
Publication date: 26 July 2021

Asmita Karmakar, Manisha Bhattacharya, Susmita Chatterjee and Atanu Kumar Dogra

The Autism-Spectrum Quotient (AQ) is a widely used tool to quantify autistic traits in the general population. This study aims to report the distribution, group differences and…

Abstract

Purpose

The Autism-Spectrum Quotient (AQ) is a widely used tool to quantify autistic traits in the general population. This study aims to report the distribution, group differences and factor structure of autistic traits in Indian general population. The work also assesses the criterion validity of AQ across three patient group samples – autism spectrum disorder (ASD), obsessive-compulsive disorder and social anxiety disorder.

Design/methodology/approach

In this study, psychometric properties of the adapted AQ were assessed among 450 neurotypical university students matched for age. Confirmatory factor analysis was done to see if the adapted AQ fits the original factor structure. Test–retest, internal consistency reliability and criterion validity were found out. Group differences (gender and field of study) in AQ were also assessed.

Findings

Autistic traits were found to be continuously distributed in the population, and patterns of group differences were consistent with previous studies. The adapted AQ had five factors resembling the original factor structure with a good fit, and 38 items instead of the original 50 items. Acceptable reliability coefficients were demonstrated along with criterion validity across clinical groups.

Originality/value

This work is the first to present the pattern of distribution and factor structure of autistic traits among neurotypical adults from Eastern India, a culturally different population, as well as a reliable and valid tool to assess autistic traits in Bengali, a language with 300 million speakers. The findings add to the growing literature on AQ measurement and the concept of autism as a quantitative trait, examined outside of the western samples.

Details

Advances in Autism, vol. 8 no. 3
Type: Research Article
ISSN: 2056-3868

Keywords

Book part
Publication date: 4 April 2024

Yan He, Ruixiang Jiang, Yanchu Wang and Hongquan Zhu

We form portfolios based on return and liquidity and examine the effects of liquidity and other risk factors on asset pricing in the Chinese stock market. Our results show that…

Abstract

We form portfolios based on return and liquidity and examine the effects of liquidity and other risk factors on asset pricing in the Chinese stock market. Our results show that the past loser-and-illiquid stock portfolios tend to outperform the past winner-and-liquid stock portfolios in the 1–12 months holding period. The excess return is significantly associated with the market-wide liquidity factor even when we control the three Fama-French and momentum factors. Cross-sectionally, the liquidity beta significantly affects the excess return even with control of other risk betas and other traditional liquidity proxies.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Article
Publication date: 18 July 2023

Larry Su

This study aims to examine the relationship between investor gambling preferences and stock returns, using data for all firms listed in Shanghai A-share market during 2016 and…

Abstract

Purpose

This study aims to examine the relationship between investor gambling preferences and stock returns, using data for all firms listed in Shanghai A-share market during 2016 and 2021.

Design/methodology/approach

This study employs price and trading volume data to capture the behavioral characteristics and gambling preferences of investors. Using the Fama-French three-factor and five-factor models to estimate benchmark returns, this study investigates whether investing in gambling stocks can yield positive excess returns.

Findings

The study reveals that stocks identified as gambling stocks generate high returns in the month they are identified as such but subsequently experience a significant drop in excess returns compared to non-gambling stocks over the following one to six months. These results are found to be consistent across different methods used to classify gambling stocks and across various industry sectors.

Research limitations/implications

This research provides insights into the risk-return tradeoff of different stock types and the factors that fuel irrational investment behavior. This research underscores the importance of considering the behavioral elements of investment, particularly in emerging markets where individual investors have a significant impact.

Practical implications

This study advises investors to avoid adopting a gambler or speculative mindset and instead make well-informed and calculated investment decisions that are in line with investors financial objectives and risk appetite. This approach can help create a more stable and sustainable financial market.

Originality/value

This study provides new evidence on the relationship between gambling preferences and future stock returns in financial markets and sheds new light on the important role of irrational factors in investment decisions.

21 – 30 of over 8000