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Article
Publication date: 14 May 2021

Jun Wen, Haifeng Hou, Metin Kozak, Fang Meng, Chung-En Yu and Wei Wang

As the world grapples with the pervasive effects of the coronavirus pandemic, a notable disconnect has emerged in the public's understanding of scientific and medical research…

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Abstract

Purpose

As the world grapples with the pervasive effects of the coronavirus pandemic, a notable disconnect has emerged in the public's understanding of scientific and medical research. Particularly, the travel industry has become unquestionably vulnerable amid the COVID-19 outbreak; this pandemic has interrupted the industry's operations with devastating economic consequences. This paper aims to highlight the importance of deconstructing barriers between medical science and public awareness related to COVID-19, taking tourism as a case in point. It also discusses the role of interdisciplinary research in facilitating the tourism and hospitality industry's recovery and alleviating tourists' uncertainties in the wake of COVID-19.

Design/methodology/approach

This paper offers a synthesis of news coverage from several media outlets, framed within the literature on knowledge transformation across disciplines. This framing focuses on the medical sciences (e.g. public health) and social sciences (e.g. tourism management) to identify gaps between medical scientific knowledge and public awareness in the context of COVID-19. The authors' experience in public health and tourism management further demonstrates a missing link between academic research and the information made available in public health and everyday settings. A potential research agenda is proposed accordingly.

Findings

This paper summarizes how salient issues related to knowledge transfer can become intensified during a global pandemic, such as medical research not being communicated in plain language, which leads some citizens to feel apathetic about findings. Reporting on the prevalence and anticipated consequences of disease outbreaks can hence be difficult, especially early in the development of diseases such as COVID-19.

Research limitations/implications

By assuming a cross-disciplinary perspective on medical/health and social science research, this paper encourages academic and practical collaboration to bring medical research to the masses. This paper also outlines several research directions to promote public health, safety and sustainability through tourism.

Practical implications

This paper highlights that it is essential for medical knowledge to be disseminated in a manner that promotes public understanding. The tourism and hospitality industry can benefit from an essential understanding of medical findings, particularly during this pandemic. Without a firm grasp on COVID-19's origins and treatment, the tourism and hospitality industry will likely struggle to recover from this catastrophe.

Social implications

Taking COVID-19 as a case in point, this study advocates leveraging the strengths of disparate domains to bring medical findings to a wider audience and showcase cutting-edge developments for the greater good. This study also emphasizes the importance of engaging the general public in reputable scientific research findings to increase public awareness in a professional and accurate manner.

Originality/value

This paper presents a unique and critical discussion of the gap between medical science knowledge and public awareness, as well as its implications for tourism and hospitality recovery after COVID-19, with a focus on applying medical scientific knowledge to post-pandemic industry recovery.

研究目的

當全球正與冠狀病毒流行病所帶來的廣泛影響抗衡之際,公眾對科學和醫學研究的理解卻出現了一個令人關注的脫節現象。在2019冠狀病毒病爆發期間,旅遊業無疑格外受到影響。這流行病中斷了旅遊業的運作,給業界帶來毀滅性的經濟影響。本文旨在以旅遊業為一個適時的例子、強調我們必須剖析與2019冠狀病毒病相關的醫學與公共意識之間的障礙。本文亦討論跨學科研究對促進2019冠狀病毒病疫情後旅遊及酒店業的復甦、及減低旅客的不確定性所扮演的角色。

研究設計/方法/理念

本文提供一個來自數個媒體管道的新聞報導的綜合論述,而這論述是在與跨學科知識轉化相關的文獻領域內陳述而成的。論述的重點放在醫學科學(例如公共衛生) 和社會科學(例如觀光管理) 上,目的是確定在2019冠狀病毒病的背景下、醫學知識與公共意識之間的差距。作者們在公共衛生及觀光管理方面的經歷進一步顯示學術研究、與公共衛生和日常環境上的公開資訊之間缺乏銜接,本文就此提出一個研究議程。

研究結果

本文總結與知識轉化相關的顯著問題如何會在全球流行病爆發期間變得更嚴重。譬如、醫學研究的資訊會因沒有以通俗語言來傳遞而令有些國民對其研究結果漠不關心。因此,關於疾病的傳播和爆發所預期的影響的信息是難於廣傳的,特別是在像2019冠狀病毒病等疾病形成的初期。

原創性

本文就醫學知識與公共意識之間的差距作出了一個獨特、有批判性的討論,亦論述這差距對2019冠狀病毒病疫情過後旅遊及酒店業復甦的意義。討論的焦點放在如何應用醫學知識在疫情後幫助產業復甦上。

研究的局限/含意

作者們採用涵蓋醫學/衛生和社會科學研究的跨學科角度,鼓勵學者與從事實務人員相互合作、以便把醫學研究帶給廣泛的民眾。本文亦概述多個研究方向,透過旅遊業來推動公共衛生、公眾安全及可持續性。

實際意義

本文強調醫學知識必須透過能提高公共意識的方式來傳遞。旅遊及酒店業會因我們對醫學研究結果擁有必要的認識而受惠,尤其是在這流行病蔓延的期間。若我們對2019冠狀病毒病的病源和療法沒有確切的了解,則旅遊及酒店業將難從這災難中恢復過來。

對社會的意義

本研究利用2019冠狀病毒病這個適時的例子,來提倡借助各個不同領域的優點,為了謀求公眾的利益、把醫學的研究結果帶給更多民眾、及傳達醫療最新發展的信息。本研究亦強調以專業、精準的方法,引起公眾對可信賴的科學研究結果產生興趣,從而提高公共意識至為重要。

Details

European Journal of Management and Business Economics, vol. 30 no. 2
Type: Research Article
ISSN: 2444-8451

Keywords

Article
Publication date: 9 September 2011

Haifeng You and Xiao‐Jun Zhang

This study aims to examine whether limited attention leads to the market underreaction to earnings announcement and 10‐K filings.

Abstract

Purpose

This study aims to examine whether limited attention leads to the market underreaction to earnings announcement and 10‐K filings.

Design/methodology/approach

This is an empirical study involving statistical analysis of a large sample of data, obtained from Compustat, CRSP and Xignite Inc. Both portfolio analysis and multivariate regressions are used in hypotheses testing.

Findings

The following key findings are presented in the paper. First, we show that among large firms, investors under‐react more to the information contained in 10‐K filings than earnings announcements. Second, underreaction to earnings announcements tends to be stronger for small firms than large firms. Third, we find that companies report their earnings and 10‐Ks earlier when there is a higher demand for such information, and document a negative relationship between the degree of underreaction and the timeliness of such information release. Finally, we show that the recent ruling by SEC to accelerate 10‐K filing has little impact on the degree of investors' underreaction to 10‐K information.

Research limitations/implications

The findings of this study suggest that investors' failure to devote enough attention to an economic event leads to underreaction, and the degree of underreaction is negatively correlated with the amount of investor attention.

Practical implications

Investors need to periodically reassess the informational contents of economic events, and allocate their attention accordingly, in order to avoid underreaction.

Originality/value

This study analyzes and the roles of limited attention in determining the degree of investor underreaction to earnings announcement and 10‐K filings. The comparison of the two related but distinct financial reporting events yields interesting insights.

Details

China Finance Review International, vol. 1 no. 4
Type: Research Article
ISSN: 2044-1398

Keywords

Article
Publication date: 31 October 2023

Kai Zhang, Lingfei Chen and Xinmiao Zhou

Under the trend of global economic integration and the new context of stagflation, frequent fluctuations in international interest rates are exerting far-reaching impacts on the…

Abstract

Purpose

Under the trend of global economic integration and the new context of stagflation, frequent fluctuations in international interest rates are exerting far-reaching impacts on the world economy. In this paper, the transmission mechanism of the impact of fluctuations in international interest rates (specifically, the American interest rate) on the bankruptcy risk in China's pillar industry, the construction industry (which is also sensitive to interest rates), is examined.

Design/methodology/approach

Using an improved contingent claims analysis, the bankruptcy risk of enterprises is calculated in this paper. Additionally, an individual fixed-effects model is developed to investigate the mediating effects of international interest rates on the bankruptcy risk in the Chinese construction industry. The heterogeneity of subindustries in the industrial chain and the impact of China's energy consumption structure are also analysed in this paper.

Findings

The findings show that fluctuations in international interest rates, which affect the bankruptcy risk of China's construction industry, are mainly transmitted through two major pathways, namely, commodity price effects and exchange rate effects. In addition, the authors examine the important impact of China's energy consumption structure on risk transmission and assess the transmission and sharing of risks within the industrial chain.

Originality/value

First, in the research field, the study of international interest rate risk is extended to domestic-oriented industries. Second, in terms of the research content, this paper is focused on China-specific issues, including the significant influence of China's energy consumption structure characteristics and the risk contagion (and risk sharing) as determined by the current development of the Chinese construction industry. Third, in terms of research methods a modified contingent claim analysis approach to bankruptcy risk indicators is adopted for this study, thus overcoming the problems of data frequency, market sentiment and financial data fraud, which are issues that are ignored by most relevant studies.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Book part
Publication date: 2 September 2009

Victor Nee and Sonja Opper

Market transition theory has specified general mechanisms to explain change in the balance of power between political and economic actors in transition economies. These mechanisms…

Abstract

Market transition theory has specified general mechanisms to explain change in the balance of power between political and economic actors in transition economies. These mechanisms drive the endogenous construction of informal institutions of a market society; moreover, it is within the context of an ongoing change in relative power that the formal institutions of the emerging market economy arise. The theory makes clear predictions on the declining value of political capital as a consequence of progressive marketization, which incrementally results in transformative change in the direction of more relative autonomy between the political and economic spheres, not dissimilar from established market economies (Kornai, 1995; Evans, 1995; Nee, 2000; Lindenberg, 2000; Ricketts, 2000). In sum, the predicted change in relative power between redistributors and producers explains not only bottom-up entrepreneurial activity, but also the emergence of a market economy in departures from state socialism.

Details

Work and Organizationsin China Afterthirty Years of Transition
Type: Book
ISBN: 978-1-84855-730-7

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