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Filter trading is a technical trading rule that has been used extensively to test the efficient market hypothesis in the context of long-term trading. In this paper, the authors adopt the rule to analyze intraday trading, in which an open position is not left overnight. This paper aims to explore the relationship between intraday filter trading profitability and intraday realized volatilities. The bivariate thin plate spline (TPS) model is chosen to fit the predictor-response surface for high frequency data from the Hang Seng index futures (HSIF) market. The hypotheses follow the adaptive market hypothesis, arguing that intraday filter trading differs in profitability under different market conditions as measured by realized volatility, and furthermore, the optimal filter size for trading on each day is related to the realized volatility. The empirical results furnish new evidence that range-based realized volatilities (RaV) are more efficient in identifying trading profit than return-based volatilities (ReV). These results shed light on the efficiency of intraday high frequency trading in the HSIF market. Some trading suggestions are given based on the findings.

Among all the factors that affect the profit of filter trading, intraday realized volatility stands out as an important predictor. The authors explore several intraday volatilities measures using range-based or return-based methods of estimation. The authors then study how the filter trading profit will depend on realized volatility and how the optimal filter size is related to the realized volatility. The bivariate TPS model is used to model the predictor-response relationship.

The empirical results show that range-based realized volatility has a higher predictive power on filter rule trading profit than the return-based realized volatility.

First, the authors contribute to the literature by investigating the profitability of the filter trading rule on high frequency tick-by-tick data of HSIF market. Second, the authors test the assumption that the magnitude of the intraday momentum trading profit depends on the realized volatilities and aims to identify a relationship between them. Furthermore, the authors consider several intraday realized volatilities and find the RaV have the higher prediction power than ReV. Finally, the authors find some relationship between the optimal filter size and the realized volatilities. Based on the observations, the authors also give some trading suggestions to the intraday filter traders.

The temperature response of properties of Single crystal tungsten (111) at high temperature is still not been thoroughly understood. All the mechanical properties are temperature dependent. The experiments are performed with tailor made Berkovich tip of radius 100 nm with temperatures of 373 K, 473 K and 623 K to study the behavior of Single crystal Tungsten at various temperatures. The new phenomena of material under the indenter bouncing back at the end of unloading were clearly noticed, due to the accumulation of high energy. One particularly interesting observation is the appearance of discrete plasticity during the unloading segment as evidenced by a displacement burst or pop‐in at ∼1 mN at elevated temperatures. It is also noted that the elastic recovery reduces at higher temperatures. The results for different temperatures are compared. Our experiments clearly show the periodic bursts and the softening effects. Pile up is observed. It is noticed that there is significant drop in hardness, elastic modulus and increase in displacement with increasing temperature. This softening phenomenon corresponds to the increase of indentation depth for the same loading conditions. Clear bursts are seen showing the nucleation of dislocations. At higher peak loads, the indentation contact in tungsten is not just elastic. Tungsten is chosen to illustrate the temperature dependence behaviour because of its isotropic elastic behaviour at low loads. This work attempts to explore the complete behaviour of metals at various temperatures, including the initial burst, the complete elastic recovery, the softening effect and the modulus and Hardness.

The purpose of this study was to describe any patterns of distinctive sociocultural adaptation in the form of exchanges of time and money between American households, and to determine whether any observed racial or ethnic differences remain after controlling for social background characteristics. We tested one dimension of the sociocultural adaptation hypothesis — Through processes of distinctive sociocultural adaptation, minority group members learn to survive by adjusting behaviors, values, and informal organization in response to demands and stressors in their social environment. The focal adaptation in our study involved instrumental and expressive exchanges between households. The findings showed that minority groups on average were less likely to participate in instrumental and expressive exchanges between households as compared to the majority group. The study involved a secondary analysis of data collected in 1987–1988 as part of the National Survey of Families and Households (N= 13,017). Logistic regression was used to test for racial and ethnic variations in a multivariate context.

Digital transformation has been changing the economic environment of enterprises in recent years. To remain competitive, they rely on an extensible software architecture, flexible workflow execution, and automated decision management. The concepts of service-oriented architectures (SOA), business process management (BPM), and business rules management (BRM) provide an adequate, yet isolated means of addressing many of these requirements. The paper aims to discuss these issues.

This study adapts from established research frameworks to structure the current state of research on the integration of SOA, BPM and BRM. The authors highlight the current research scope, point to disregarded topics and sketch out multidisciplinary research approaches.

While the three concepts are often discussed only in isolation or pairwise, approaches that integrate them are scarce. Against this backdrop, this study defines three types of research opportunities and identifies several directions for future research that should be explored from a technological as well as organizational perspective. Given the breadth of open questions, the authors present sources for each area of our research framework, which can serve as starting points for future investigations.

Except for well-established support for separate tasks and technologies, there is a lack of integrated standards, methods and platforms, which for example enable integrated decision-making across BPM and SOA.

Our contribution builds on established frameworks and clearly shows that the discussion on the integration of SOA, BPM and BRM cannot yet be regarded as sufficient. The research agenda highlights which areas explicitly benefit from a more precise consideration.

The purpose of this study is evaluate the optical properties of polyacrylonitrile (PAN) nanofibers containing fluorescent agents such as fluorescent dye and carbon quantum dots (CQDs) by using image-processing technique of Fluorescence microscope image.

The fluorescence microscope image of the pure PAN, PAN/CQDs and PAN/fluorescent dye nanofibers composite was analyzed using several image-processing techniques such as color histogram, lookup table (LUT), Fourier transform, RGB profile and surface plot analysis.

The fluorescence microscope image indicates that the fluorescence emission of nanocomposites depends on the type of fluorescent agent. The fluorescence intensity of nanofiber containing CQDs is more than nanofiber containing fluorescent dye. Various image-processing methods provide similar results for optical property of nanocomposites. Analyzing the LUT, the blue value of CQDs/PAN nanocomposite image was significantly higher than other nanocomposites. This was confirmed by other methods such as Fourier transform, color histogram and 3D topography of the electrospun nanofibers. According to analysis of colorimetric parameters, higher negative value of b* indicates bluer color for CQDs/PAN nanofibers than other nanocomposites. The obtained results indicate that the image-processing technique can be used to evaluate the optical property of fluorescent nanocomposite.

This study evaluates the optical properties of fluorescent nanocomposites by using image-processing techniques such as Fourier transform, color histogram, RGB profiles, LUT, surface plot and histogram analysis.

This paper aims to report on a new pilling measurement system that has been developed using image processing technique.

A pilling assessment cabinet is designed and developed which captures images and a software is developed to process and analyze the image of a pilled fabric to find out the various pilling parameters such as total number of pills, total area of the pills, mean area and number of pills per unit area. The image processing software processed image data of both the existing subjective assessment standards and pilled fabrics and assign suitable grades for comparison.

The grades assigned by the machine correlates well with that of the experts grades and the results are reliably reproducible. The system can count the number of pills, find their total area, and their mean area. The results of EMPA‐W2 and EMPA‐W3 standards behave almost similar. The ASTM standards also gives somewhat the same results as the EMPA standards in number of pills but has a wide variation in the pilled area and mean pill area. The IWS standards produced an entirely different result from the other two standards, which leads us to the conclusion that all these standards are not objectively comparable to each other.

The machine grade becomes a suitable methodology to compare the different grading systems.

Traditional pilling tests are subjective by nature. Moreover, standards set by different organizations are not comparable with each other. This method presents a more universal and objective approach to describe the nature of the pilling.

This study aims to investigate the key determinants predicting users’ behavioural intention (BI) in adopting mobile payment (m-payment) in the new normal era.

The mobile technology acceptance model (MTAM) was extended through attitudes, perceived trust, perceived risk and personal innovativeness (PI) with government support (GS) functioning as a moderator. A total of 245 valid responses were gathered from Malaysian m-payment users with purposive sampling and subsequently evaluated through partial least square-structural equation modelling.

Mobile usefulness and PI significantly predicted user BI to use m-payment. Based on the moderation analysis, GS strengthened attitude-based impacts on BI towards m-payment adoption.

The empirical outcomes provide stakeholders with pivotal implications to develop holistic policies and strategies that potentially catalyse m-payment usage in the new normal era.

This research expands the current body of knowledge by assessing the factors impacting m-payment usage intention in the new normal era. The four aforementioned MTAM elements and GS (moderator) were recommended to boost model workability and offer novel evidence from a distinct viewpoint.

El objetivo de este estudio es investigar los determinantes clave que predicen la intención de comportamiento de los usuarios a la hora de adoptar el pago por móvil (m-payment) en la nueva era normal.

El modelo de aceptación de la tecnología móvil (MTAM) se amplió a través de las actitudes, la confianza percibida, el riesgo percibido y la capacidad de innovación personal, con el apoyo gubernamental como moderador. Se recogió un total de 245 respuestas válidas de usuarios malasios de pago por móvil mediante muestreo intencionado y se evaluó posteriormente mediante modelización de ecuaciones estructurales por mínimos cuadrados parciales (PLS-SEM).

La utilidad del móvil y la capacidad de innovación personal predijeron significativamente la intención de los usuarios de utilizar el pago por móvil. Según el análisis de moderación, el apoyo gubernamental reforzó los efectos basados en la actitud sobre la intención conductual de adoptar el pago por móvil.

Los resultados empíricos proporcionan a las partes interesadas implicaciones fundamentales para desarrollar políticas y estrategias holísticas que catalicen potencialmente el uso del pago móvil en la nueva era de la normalidad.

Esta investigación amplía el corpus actual de conocimientos al evaluar los factores que influyen en la intención de uso del pago por móvil en la nueva era normal. Se recomiendan los cuatro elementos MTAM mencionados y el apoyo gubernamental (moderador) para impulsar la viabilidad del modelo y ofrecer pruebas novedosas desde un punto de vista distinto.

本研究旨在探讨新常态时代用户使用移动支付（m-payment）行为意向的主要决定因素。

通过态度、感知信任、感知风险和个人创新能力, 并以政府支持作为调节因素, 对移动技术接受模型（MTAM）进行了扩展。通过有目的的抽样, 从马来西亚移动支付用户中收集了 245 份有效回复, 随后通过偏最小二乘法结构方程模型（PLS-SEM）进行了评估。

移动实用性和个人创新性可显著预测用户使用移动支付的行为意向。根据调节分析, 政府支持加强了态度对采用移动支付的行为意向的影响。

实证研究的结果为利益相关者提供了重要的启示, 有助于他们制定全面的政策和战略, 在新常态时代促进移动支付的使用。

本研究通过评估新常态时代影响移动支付使用意向的因素, 拓展了现有的知识体系。研究推荐了上述四个 MTAM 要素和政府支持（调节器）, 以提高模型的可操作性, 并从一个独特的视角提供了新的证据。

The purpose of this paper is to investigate the causal link between foreign direct investment (FDI) and exports in China based on the knowledge capital model (KK model, Markusen, 2002).

The bootstrap Granger full-sample and sub-sample rolling window causality test is used to determine whether FDI can promote exports.

The full-sample causality test indicates no causal relationship from FDI to exports. However, considering structural changes of exports and FDI, the authors’ find that the full-sample test is not reliable. Instead, the authors use the rolling window causality test to revisit the dynamic causal relationship, and the results present significant effects from FDI on exports, mostly around periods in which the proportion of FDI from Hong Kong, Macao and Taiwan is increasing. Specifically, positive impacts of FDI on exports are stronger than the negative impacts in China.

The findings in this study suggest a significant time-varying nature of the correlation between FDI and exports. The promotion effect of FDI to exports is proved by the rolling window approach; it thus supports the KK model that divides FDI into lateral FDI and vertical FDI and proves that the constitution of FDI is critical to the relationship between FDI and exports.

China has been facing adjustment of its economic structure in recent years, and in this situation, increasing the proportion of FDI that can bring advanced production function is critical for the industrial structural adjustment.

This paper uses the bootstrap rolling window causality test to investigate the time-varying nature of the causality between FDI and exports, considering structural changes for the first time. The authors further deepen the previous research and draw a more realistic conclusion.

Compared with traditional approaches, integrated project delivery (IPD) improves project performance by enhancing integration. To adopt IPD, however, existing practices need to be changed, which creates barriers to implementation. This study aims to identify the barriers to IPD practices in China and Singapore, whose practitioners show different types and levels of integration experience.

A questionnaire survey was administered to two groups of respondents: Chinese and Singaporean. The data were analyzed using three nonparametric techniques, including Wilcoxon signed-rank test, Mann-Whitney-Wilcoxon test, and Spearman rank correlation.

(1) Of 39 possible barriers, 36 were consistently felt by both Chinese and Singaporean practitioners with different backgrounds; (2) The Chinese group perceived more issues to be significant barriers than the Singaporean group; (3) The Singaporean group had more experience than the Chinese group in performing integration in five areas. This lessens some barriers to adopting IPD practices.

This study is important because it uncovers barriers to the effective implementation of IPD and shows the importance of certain types and levels of integration experience in overcoming these barriers. The results will be useful to practitioners planning to adopt IPD in China or Singapore.

Measuring the performance of public participation is conducive to improving participation systems. However, such measurement, particularly in urban regeneration projects, is difficult because of the complex indicators and multiple stakeholders involved. The purpose of this paper is to measure the public participation level in urban regeneration projects in China.

This study adopts a perception difference-based method to measure the public participation level in urban regeneration projects in China. Specifically, an indicator system consisting of 12 indicators from three categories was first purposed. A perception difference-based method that integrates ANOVA test and Tukey test were then developed. The method was validated using five represented projects, and the results are interpreted based on a proposed measurement matrix.

Regardless of the type of indicator, the perception of the government aligns with the perception of private sector professions, however, deviates from the perception of citizens. By taking the mean score and the significance level among stakeholders of perception as two dimensions, different patterns of issues in the current participation practice in urban regeneration are manifested.

Theoretically, the proposed indicator system and perception difference-based method combined to provide a holistic view of public participation, which is verified to provide a better measurement. Practically, the authors’ methodology helps in revealing issues in current participation practice and further leading to designing coping strategies. Nonetheless, the proposed method requires further validation in participation practices in China and other countries.

By considering the perception mean and the significance level as two dimensions, a public participation measurement matrix is proposed. The performance in different indicators are classified into four stages accordingly, namely idling, starting, running-in and accelerating.