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Article
Publication date: 4 September 2017

Jia-Lang Seng and Hsiao-Fang Yang

The purpose of this study is to develop the dictionary with grammar and multiword structure has to be used in conjunction with sentiment analysis to investigate the relationship…

1589

Abstract

Purpose

The purpose of this study is to develop the dictionary with grammar and multiword structure has to be used in conjunction with sentiment analysis to investigate the relationship between financial news and stock market volatility.

Design/methodology/approach

An algorithm has been developed for calculating the sentiment orientation and score of data with added information, and the results of calculation have been integrated to construct an empirical model for calculating stock market volatility.

Findings

The experimental results reveal a statistically significant relationship between financial news and stock market volatility. Moreover, positive (negative) news is found to be positively (negatively) correlated with positive stock returns, and the score of added information of the news is positively correlated with stock returns. Model verification and stock market volatility predictions are verified over four time periods (monthly, quarterly, semiannually and annually). The results show that the prediction accuracy of the models approaches 66% and stock market volatility with a particular trend-predicting effect in specific periods by using moving window evaluation.

Research limitations/implications

Only one news source is used and the research period is only two years; thus, future studies should incorporate several data sources and use a longer period to conduct a more in-depth analysis.

Practical implications

Understanding trends in stock market volatility can decrease risk and increase profit from investment. Therefore, individuals or businesses can feasibly engage in investment activities for profit by understanding volatility trends in capital markets.

Originality/value

The ability to exploit textual information could potentially increase the quality of the data. Few scholars have applied sentiment analysis in investigating interdisciplinary topics that cover information management technology, accounting and finance. Furthermore, few studies have provided support for structured and unstructured data. In this paper, the efficiency of providing the algorithm, the model and the trend in stock market volatility has been demonstrated.

Details

Kybernetes, vol. 46 no. 8
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 5 May 2015

Yi-Ching Chen, Tawei Wang and Jia-Lang Seng

The purpose of this paper is to investigate the relation between voluntary accounting changes (VACs) and post-earnings announcement drift. In addition, the authors examine how…

Abstract

Purpose

The purpose of this paper is to investigate the relation between voluntary accounting changes (VACs) and post-earnings announcement drift. In addition, the authors examine how accounting choice heterogeneity moderates such association.

Design/methodology/approach

The authors collect VAC firms in the US in the period from 1994 to 2008 and identify the heterogeneity of accounting choices between VAC and non-VAC firms. To test the hypotheses, the authors consider a 10-Q filing window and a post-filing drift window. The 10-Q filing window begins from one trading day before and ends on one trading day after the quarterly report filing date. The post-filing drift window begins from two trading days after the filing date and ends on 60 trading days with respect to the earnings announcement date.

Findings

The results demonstrate that, overall, VAC does not affect the three-day market reactions to 10-Q filings. However, after taking into account the accounting choice heterogeneity, the authors observe that VAC is positively related to the market reactions to surprises and negatively associated with the post-filing period drift.

Originality/value

The paper contributes to the literature by showing that VACs affect the market’s responses to 10-Q filings only when such change results in different accounting practices compared to the VAC firm’s major competitors. Furthermore, given the change with heterogeneity requires more time to process, VACs are related to post-filing announcement drift.

Details

Asian Review of Accounting, vol. 23 no. 1
Type: Research Article
ISSN: 1321-7348

Keywords

Article
Publication date: 23 August 2013

P.C. Liao, Ann Ling‐Ching Chan and Jia‐Lang Seng

This study aims to investigate the association between the intellectual capital disclosure level and the mandatory adoption of international financial reporting standards (IFRS)…

2989

Abstract

Purpose

This study aims to investigate the association between the intellectual capital disclosure level and the mandatory adoption of international financial reporting standards (IFRS). This paper reports an empirical evidence for the impact of the mandatory adoption of IFRS on the disclosure level of intellectual capital, intangible and knowledge assets. Intellectual capital is categorized into process focus, customer focus, human focus, research and development focus. The linkages between intellectual capital and IFRS adoption are investigated in companies of high technology sector in the UK. A novel approach to measure the effect of the IFRS adoption on intellectual capital disclosure level is presented.

Design/methodology/approach

The proposed measure was adopted from the information retrieval algorithm and intellectual capital framework. The empirical model was expanded from the econometric model. The primary data for investigating the interrelationships between intellectual capital and IFRS adopting were hand collected from London Stock Exchange and listed firms' web sites. A comprehensive intellectual capital, intangible assets, and knowledge assets' dictionary were built based on related literature.

Findings

This study reports that the overall accuracy of information retrieval application is up to 78.2 percent. The disclosures of intellectual capital items are closely associated with the IFRS adoption. The results suggest that in older or larger companies, the intellectual capital disclosures increase in the post‐adoption period. Overall, the results confirm that companies in the high‐tech industry are associated with a higher disclosure level following the mandatory adoption of IFRS.

Originality/value

The adaption of information retrieval technique and intellectual capital framework enhances the understanding of the usefulness and readability of annual reports in the post‐adoption period of IFRS in high‐tech industry. This study corroborates and complements those of extant research and sheds light on the effect of IFRS adoption on voluntary disclosures. These findings will enable top management around the world to realize the impact of the IFRS adoption on intellectual capital elements so that long‐term strategic knowledge assets management may be emphasized for sustainable competitive edge.

Article
Publication date: 1 October 2005

Jia‐Lang Seng and Jing Yu

To provide a more requirements‐driven workload model for eXtensible Markup Language (XML) benchmark over the electronic data exchange and management in collaborative commerce.

Abstract

Purpose

To provide a more requirements‐driven workload model for eXtensible Markup Language (XML) benchmark over the electronic data exchange and management in collaborative commerce.

Design/methodology/approach

A three‐component workload requirements model is formulated. They are the XML object model, the XML query operation model, and the control model. The object model extended from W3C data model gives a set of more generic data and document model. The query model enhanced from current and common benchmarks gives a more generalized set of standard and open queries against XML data and documents. The control model compiled from TPC and industry standards gives a set of more systematic experimental variables and performance metrics to set up and conduct an XML benchmark.

Findings

The long‐standing research issues of domain dependency and application irreproducibility of XML benchmarks are addressed, tackled and offered with a novel and computer‐aided alternative. Precision and cost‐effectiveness through a synthetic, standard, and scalable set of requirements‐driven workload model are presented.

Research limitations/implications

XML constructs, constraints, and controls are investigated both in terms of data and documents. Workload formulation from the requirements analysis is explored. In‐depth schema, query, and control model to provide scalability and portability can be applied is developed.

Practical implications

Enterprise information integration over heterogeneous data sources has to be achieved through XML. Performance measurement and evaluation on XML is vital. With a more generic and generalized design, XML benchmark can become the key to the success of B2Bi interoperability and performance.

Originality/value

An origin of requirements‐driven benchmark modeling over collaborative commerce is presented. A novel extension on W3C XML model is created. A innovative enhancement from current XML benchmarks' query model is developed.

Details

Industrial Management & Data Systems, vol. 105 no. 8
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 2 March 2015

Tzu-Ling Huang, Tawei Wang and Jia-Lang Seng

– This study aims to examine the relation between voluntary accounting changes (VACs) and analyst following.

Abstract

Purpose

This study aims to examine the relation between voluntary accounting changes (VACs) and analyst following.

Design/methodology/approach

A sample of firms was collected with VACs in the period from 1994 to 2008 and their major competitors, as well as industry benchmarking firms without accounting changes. The authors then investigated how VACs affect analysts’ following decisions given accounting choice heterogeneity.

Findings

The findings demonstrate that VAC is negatively associated with analysts’ following decisions. Such association becomes stronger after taking into account accounting choice heterogeneity before and after VACs.

Originality/value

This study contributes to the literature in the economic consequences of VACs and suggests that analysts presumably are able to comprehend the differences in accounting choices. However, the additional level of effort and the concern of manipulation may affect analysts’ behavior. This study documents whether VAC results in different accounting choices from the firm’s major competitors or industry benchmarking firms.

Details

International Journal of Accounting & Information Management, vol. 23 no. 1
Type: Research Article
ISSN: 1834-7649

Keywords

Article
Publication date: 1 March 2003

Jia‐Lang Seng, Yu Lin, Jessie Wang and Jing Yu

XML emerges and evolves quick and fast as Web and wireless technology penetrates more into the consumer marketplace. Database technology faces new challenges. It has to change to…

1547

Abstract

XML emerges and evolves quick and fast as Web and wireless technology penetrates more into the consumer marketplace. Database technology faces new challenges. It has to change to play the supportive role. Web and wireless applications master the technology paradigm shift. XML and database connectivity and transformation become critical. Heterogeneity and interoperability must be distinctly tackled. In this paper, we provide an in‐depth and technical review of XML and XML database technology. An analytic and comparative framework is developed. Storage method, mapping technique, and transformation paradigm formulate the framework. We collect and compile the IBM, Oracle, Sybase, and Microsoft XML database products. We use the framework and analyze each of these XML database techniques. The comparison and contrast aims to provide an insight into the structural and methodological paradigm shift in XML database technology.

Details

Industrial Management & Data Systems, vol. 103 no. 2
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 3 April 2007

Jia‐Lang Seng and Woodstock Lin

The purpose of this research is to articulate an analysis framework and a method for the cross‐national business‐to‐business integration electronic commerce (B2Bi EC) by exploring…

1515

Abstract

Purpose

The purpose of this research is to articulate an analysis framework and a method for the cross‐national business‐to‐business integration electronic commerce (B2Bi EC) by exploring an ontology‐assisted schema and semantics resolution in the business process alignment with electronic commerce standards.

Design/methodology/approach

The paper presents an ontology‐assisted analysis method and alignment model in the implementation of the B2B electronic commerce standard specification over the existing trading partners' public processes in the syntactic and semantic integration and interoperability. An application of the Unified Modeling Language is made to analyze the public process in the domain and in the standard. Terms, concepts, relations, and links are created from the analysis results and converted into an ontology representation. Web Ontology Language is introduced to formulate the analyzed knowledge and experience to align the domain and the standard. There are correspondences and conflicts in the process of alignment. They are resolved via the shared and reusable ontology which is a convergence of the domain ontology and the standard ontology. The converged and shared ontology is achieved via a set of rules and heuristics that are created in the research.

Findings

The key of success in the B2Bi EC lies in the ability to accomplish the process interoperability and the schema comparability. Three main tasks have to be achieved to fulfill the requirements. This research constructs a prototype to implement the method. The prototype is used to illustrate the feasibility and validity of the method. A set of starter experiments has been conducted in use of a straight‐through example of a purchase order process in the alignment with the RosettaNet standard and the ebXML standard. The starter experiment serves as the baseline to demonstrate that the method is feasible and valid.

Originality/value

A syntactic and semantic analysis method and alignment model are developed and demonstrated in the research. Integration and interoperability are accomplished in use of the systematic and analytic method.

Details

Industrial Management & Data Systems, vol. 107 no. 3
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 1 October 2003

Jia‐Lang Seng

Benchmarks are the vital tools in the performance measurement and evaluation of database management systems (DBMS), including the relational database management systems (RDBMS…

1277

Abstract

Benchmarks are the vital tools in the performance measurement and evaluation of database management systems (DBMS), including the relational database management systems (RDBMS) and the object‐oriented/object‐relational database management systems (OODBMS/ORDBMS). Standard synthetic benchmarks have been used to assess the performance of RDBMS software. Other benchmarks have been utilized to appraise the performance of OODBMS/ORDBMS products. In this paper, an analytical framework of workload characterization to extensively and expansively examine the rationale and design of the industry standard and synthetic standard benchmarks is presented. This analytical framework of workload analysis is made up of four main components: the schema analysis, the operation analysis, the control analysis, and the system analysis. These analysis results are compiled and new concepts and perspectives of benchmark design are collated. Each analysis aspect is described and each managerial implication is discussed in detail.

Details

Industrial Management & Data Systems, vol. 103 no. 7
Type: Research Article
ISSN: 0263-5577

Keywords

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