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Book part
Publication date: 30 April 2008

Jae J. Lee

Many economic and business problems require a set of random variates from the posterior density of the unknown parameters. The set of random variates can be used to…

Abstract

Many economic and business problems require a set of random variates from the posterior density of the unknown parameters. The set of random variates can be used to integrate numerically many forms of functions. Since a closed form of the posterior density of models in time series analysis is not usually well known, it is not easy to generate a set of random variates. As a sampling scheme based on the probabilities proportional to sizes of the sample space, sampling importance resampling (SIR) method can be applied to generate a set of random variates from the posterior density. Application of SIR to signal extraction model of time series analysis is illustrated and given a set of random variates, the procedures to compute the Monte Carlo estimator of the component of signal extraction model are discussed. The procedures are illustrated with simulated data.

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Advances in Business and Management Forecasting
Type: Book
ISBN: 978-0-85724-787-2

Content available
Book part
Publication date: 30 April 2008

Abstract

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Advances in Business and Management Forecasting
Type: Book
ISBN: 978-0-85724-787-2

Article
Publication date: 30 December 2020

Weidong Rong, Mark J. Arnold and Brad D. Carlson

Guanxi is the foundation of business success in Chinese and other Eastern cultures, but little is known about the extent to which guanxi influences brand outcomes in…

Abstract

Purpose

Guanxi is the foundation of business success in Chinese and other Eastern cultures, but little is known about the extent to which guanxi influences brand outcomes in channel relationships. The purpose of this study is to propose a novel theoretical framework of interpersonal and interorganizational guanxi relationships in a sales channel context and how these relationships influence brand outcomes.

Design/methodology/approach

The authors conceptualize, develop and validate new scales measuring interpersonal and interorganizational guanxi and test the proposed model with a field study to validate the effects of guanxi on brand loyalty. The causal relationships between interpersonal guanxi and brand attitudes and affect are confirmed in a separate field experiment.

Findings

Findings show that interpersonal guanxi is antecedent to interorganizational guanxi, and these two constructs have significant and differential direct and indirect effects on brand attitudes, brand affect and brand loyalty.

Originality/value

New multidimensional scales measuring both interpersonal and interorganizational guanxi were developed. Both interpersonal and interorganizational guanxi are conceptualized as second-order reflective constructs measured by the reflective first-order guanxi elements of personal and firm trust, personal and firm long-term orientation, xinyong (integrity), reciprocity, interaction and face.

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Journal of Business & Industrial Marketing, vol. 36 no. 7
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 7 September 2021

Sedat Alataş

This paper investigates income convergence using different convergence concepts and methodologies for 72 countries over the period between 1960 and 2010.

Abstract

Purpose

This paper investigates income convergence using different convergence concepts and methodologies for 72 countries over the period between 1960 and 2010.

Design/methodology/approach

This study applies beta (β), sigma (s), stochastic and club convergence approaches. For β-convergence analysis, it derives the cross-country growth regressions of the Solow growth model under the basic and augmented Cobb–Douglass (CD) production functions and estimates them using cross-section and panel data estimators. While it employs both the widely used coefficient of variation and recently developed weak s-convergence approaches for s-convergence, it applies three different unit root tests for stochastic convergence. To test club convergence, it estimates the log-t regression.

Findings

The results reveal that (1) there exists conditional β-convergence, meaning that poorer countries grow faster than richer countries; (2) income per worker is not (weakly) s-converging, and cross-sectional variation does not tend to fall over the years; (3) stochastic convergence is not found and (4) countries in the sample do not converge to the unique equilibrium, and there exist five distinctive convergence clubs.

Research limitations/implications

The results clearly show that heavily relying on one of the convergence techniques might lead researchers to obtain misleading results regarding the existence of convergence. Therefore, to draw reliable inferences, the results should be checked using different convergence concepts and methodologies.

Originality/value

Contrary to the previous literature, which is generally restricted to testing the existence of absolute and conditional β-convergence between countries, to the best of the author’s knowledge, this is the first study to consider and compare all originally and recently developed fundamental concepts of convergence altogether. Besides, it uses the Penn World Table (PWT) 9.1 and extends the period to 2010. From this point of view, this study is believed to provide the most up-to-date empirical evidence.

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Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 10 February 2022

Seungmug (Zech) Lee, Jae-Jin Joo, Hye-Rim Kwon, Jae-Seung Lee and John J. Rodriguez

This study aims examine to what extent four variable categories of individual ethical ideology, organizational ethical culture, superior's ethical quality and job…

Abstract

Purpose

This study aims examine to what extent four variable categories of individual ethical ideology, organizational ethical culture, superior's ethical quality and job satisfaction (JS) are causally linked to personal (un)ethical behaviors among South Korean police officers.

Design/methodology/approach

With a stratified sampling technique, 687 surveys were collected from 16 major local police headquarters across the nation. The reliability and validity of the variables were checked. The structural equation modeling (SEM) is used to test the hypotheses.

Findings

Idealism, principlism, utilitarianism and JS have a negative influence on unethical behaviors, whereas superior's unethical standards are positively associated with unethical behaviors.

Practical implications

The findings can be applied as a reference to improve ethical framework to promote behaviors by enriching the higher level of personal ethical ideology, superior's ethical quality and principlism and utilitarianism by adding an ethics training course to the continuing education program for all officers and developing further education programs for police leadership to raise ethical awareness and quality.

Originality/value

To the authors' knowledge, the study is among the first studies with four comprehensive categories of relevant variables and adds understanding to (un)ethical behaviors of police officers.

Details

Policing: An International Journal, vol. 45 no. 2
Type: Research Article
ISSN: 1363-951X

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Article
Publication date: 1 March 2017

Bong-Kuk Ko, Woo-Jung Lee and Jae-Hoon Lee

The purpose of this study is to understand what health and safety hazards low-income households are subject to by surveying the real conditions of the defective housing of…

Abstract

The purpose of this study is to understand what health and safety hazards low-income households are subject to by surveying the real conditions of the defective housing of low-income households, and to find improvement strategies. For this purpose, we visited the concentrated areas of the multi-dwelling unit (MDU) (also known as multi-family residential) housing in Jungwon-gu and Sujeong-gu in Seongnam City, Kyunggi-do, one of the representative areas in Korea with a massive distribution of the low-income class. Based on the survey data, the level of housing defects were comparison analyzed per income decile (decile 1, decile 2, deciles 3–4), and per housing location, in the categories of subsidence, cracks in the wall, delamination, water leakage/infiltration, condensation, and contamination. The housing condition per income class was more defective in the decile 2 households rather than in the decile 2 households, and in the substructure more than in the superstructure. Among the six defects, contamination problems, caused by sub-standard living conditions, were the most frequent cases. Structural defects, subsidence and cracks in the wall, were found in the main living areas—the bedrooms and the living rooms. It was confirmed in this study that the conditions of low-income housing are serious, and that it is necessary to explore specific countermeasures in the near future.

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Open House International, vol. 42 no. 1
Type: Research Article
ISSN: 0168-2601

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Article
Publication date: 1 January 2005

Deog‐jae Hur and Dong‐chan Lee

This paper describes an integrated structural optimization procedure in the vehicle structural concept design using multilevel decomposition technique. The structural…

Abstract

This paper describes an integrated structural optimization procedure in the vehicle structural concept design using multilevel decomposition technique. The structural responses in the lower level are represented in terms of local quantities that are the intermediate parameters or the detailed dimensions based on the parametric distributed screen from design and manufacturing constraints. And this technique is applied to develop the aluminum vehicle structure at concept design. We have the very efficiency results that decide the characteristics of master section and joint stiffness of vehicle structure. In the comparison with the base model the bending stiffness and torsional stiffness of the developed aluminum vehicle structure increase around 45% and 35% respectively, and the weight reduction is around 30%.

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Multidiscipline Modeling in Materials and Structures, vol. 1 no. 1
Type: Research Article
ISSN: 1573-6105

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Open Access
Article
Publication date: 25 September 2020

Parul Bhatia

The stock market anomalies have been studied across the globe with intermingled results for individual markets. The present study has investigated the financial year…

Abstract

Purpose

The stock market anomalies have been studied across the globe with intermingled results for individual markets. The present study has investigated the financial year effect for Indian stock markets by testing month-of-the-year-effect anomalies.

Design/methodology/approach

The oldest stock exchange's index returns (Bombay Stock Exchange [BSE]) have been tested using ordinary least squares (OLS) and autoregressive conditional heteroskedasticity in mean (ARCH-M) models with Student's t and Student's t-fixed distributions for the period between 1991 and 2019. The Glosten, Jagannathan and Runkle-generalised autoregressive conditional heteroskedasticity (GJR-GARCH) model has been further used to find out existence of the leverage effect in returns.

Findings

The findings indicated no evidence for anomalies in the Indian stock market which may be used by investors for making unusual returns. However, the volatility in returns has shown weak but significant results due to the financial year impact. The leverage effect has not been found in the financial year cycle change over. The Indian market may be said to be moving towards a state of efficiency, leaving no scope for investors to gauge bizarre profits.

Research limitations/implications

The study has incorporated the Indian context for testing anomalies during the start and end of the financial year cycle. The model may be extended further to developed and developing nations’ markets for testing efficiency in their stock markets during the same cycle.

Originality/value

The paper may be the first of its kind to test for the financial year effect on standalone basis for Indian markets. The paper also adds to the existing literature on testing events’ effect.

Details

Asian Journal of Accounting Research, vol. 6 no. 1
Type: Research Article
ISSN: 2443-4175

Keywords

Article
Publication date: 31 August 2015

Jae Hwa Lee

Culture and network may be interacted according to their impact on international trade, in such a way that networks alleviate the negative effect of cultural…

Abstract

Culture and network may be interacted according to their impact on international trade, in such a way that networks alleviate the negative effect of cultural dissimilarity. This study investigates the effect of network and culture on international trade, and a possible interaction between two effects. Empirical findings from the augmented gravity model using a bilateral data set of 34 OECD countries confirm the positive effect of cultural proximity and network on trade. More importantly, the findings also reveal an interaction effect in a way that networks, such as FDI, migration and internet, play a significant role in mitigating the deterrent effect of culture dissimilarity on international trade. The internet is found to have the strongest interaction effect, followed by FDI and migration.

Details

Journal of International Logistics and Trade, vol. 13 no. 2
Type: Research Article
ISSN: 1738-2122

Keywords

Article
Publication date: 30 January 2004

Jess Browning and Seung-Hee Lee

The Incheon Region has numerous assets that fall within a Pentaport model.' These include the Incheon International Airport, the Port of Incheon, a coastal industrial…

Abstract

The Incheon Region has numerous assets that fall within a Pentaport model.' These include the Incheon International Airport, the Port of Incheon, a coastal industrial park, free economic zones, a leisure port, and Songdo new town designed to be the future Silicon Valley of Korea. This paper looks at how Northeast Asia trade flows between China and Korea might be enhanced by application of the Pentaport model in making the Incheon region a North East Asian Hub. It looks also at their trade and logistics systems as well as their water borne commerce. It proposes an integrated transportation system for the Yellow Sea Region being beneficial to the economies of the Northeast Asia. It also stresses that innovative technologies for ships, terminals and cargo handling systems should be introduced to develop a competitive short sea shipping system in the region and cooperation among the regional countries will be essential to achieve the final goal. The potential of methods of container shipping is discussed as it might apply to short sea shipping in the Yellow Sea Region that could greatly facilitate Incheon's situation with respect to the broader region in application of the Pentaport model.

Details

Journal of International Logistics and Trade, vol. 1 no. 2
Type: Research Article
ISSN: 1738-2122

Keywords

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