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21 – 30 of over 9000
Article
Publication date: 5 August 2022

Teresa Villacé-Molinero, Juan José Fernández-Muñoz, Ana Isabel Muñoz-Mazón, M. Dolores Flecha-Barrio and Laura Fuentes-Moraleda

This study proposes an extension of the theory of planned behaviour (TPB) model to understand international travellers' intentions to visit Spain. This study aims to compare…

Abstract

Purpose

This study proposes an extension of the theory of planned behaviour (TPB) model to understand international travellers' intentions to visit Spain. This study aims to compare whether the predictive variables of the intention to travel differ depending on nationality. The extension includes: perceived risk, loyalty to the destination, past travel experience, public opinion climate and electronic word-of-mouth (eWOM).

Design/methodology/approach

A multiple-indicator, multiple-cause (MIMIC) model was developed as a structural equational model to predict the 1,978 participants' intention to travel. The structural model was used to determine the theoretical model for the total sample and by nationality (Germans, Britons and those from other European countries).

Findings

The extended models fitted the data well, explaining 64%–68% of the total variance, while differences depending on tourist nationality were also found. The MIMIC model indicated that German people's intention to travel to a holiday destination was influenced by their perception of risk, eWOM and loyalty to the country. In the British group, only the TPB variables were relevant. For those of other European nationalities, loyalty and eWOM were also significant. Travel experience, used as a variable in previous studies, was shown not to be significant. Overall, these results offer insights into how people from diverse countries and cultures embrace the aforementioned constructs when making travel decisions.

Practical implications

This study also has practical implications for policymakers in holiday tourism destinations, such as Spain. In particular, this study provides a better understanding of Britons' and Germans' travel intentions and could be beneficial for guiding policies for the recovery of the tourism industry in major tourism destinations.

Originality/value

Previous studies have applied various extended TPBs to one specific country or made comparisons between Asian countries. This study’s proposal makes a comparison of the variables used to predict the intention to visit a holiday destination among the European countries.

目的

本研究提出了计划行为理论 (TPB) 模型的扩展, 以了解国际旅行者访问西班牙的意图。目的是比较旅行意图的预测变量是否因国籍而异。扩展包括:感知风险、对目的地的忠诚度、过去的旅行经历、舆论氛围和电子口碑(eWOM)。

设计/方法/方法

开发了一个多指标、多原因 (MIMIC) 模型作为结构方程模型来预测 1,978 名参与者的旅行意图。结构模型用于确定总样本和国籍(德国人、英国人和来自其他欧洲国家的人)的理论模型。

发现

扩展模型很好地拟合了数据, 解释了总方差的 64%–68%, 同时还发现了取决于旅游国籍的差异。 MIMIC 模型表明, 德国人前往度假目的地的意愿受到他们对风险、eWOM 和对国家忠诚度的认知的影响。在英国组中, 只有 TPB 变量是相关的。对于其他欧洲国家的人来说, 忠诚度和 eWOM 也很重要。旅行经验, 在以前的研究中用作变量, 被证明并不重要。总体而言, 这些结果提供了有关来自不同国家和文化的人们在做出旅行决定时如何接受上述结构的见解。

原创性/价值

以前的研究已经将各种扩展的 TPB 应用于一个特定的国家或在亚洲国家之间进行了比较。我们的建议对用于预测欧洲国家旅游目的地意图的变量进行了比较。

Objetivo

Este estudio propone una extensión del modelo de la teoría del comportamiento planificado (TPB) para comprender las intenciones de visitar España de los viajeros internacionales. El objetivo es comparar si las variables que predicen la intención de viajar difieren según la nacionalidad. Esta extensión del modelo incluye variables como: riesgo percibido, lealtad al destino, experiencia de viaje anterior, clima de la opinión pública y el boca a boca electrónico (eWOM).

Diseño/metodología/enfoque

Se desarrolló un modelo de indicadores y causas múltiples (MIMIC) como modelo de ecuaciones estructurales para predecir la intención de viajar de los 1978 participantes. El modelo estructural se utilizó para comprobar el modelo teórico para la muestra total y por nacionalidades (alemanes, británicos y otros países europeos).

Recomendaciones

Los modelos ampliados propuestos se ajustaron bien a los datos, explicando entre el 64% y el 68% de la varianza total, si bien se encontraron diferencias en función de la nacionalidad del turista. El modelo MIMIC indicó que la intención de los alemanes de viajar a un destino de vacaciones estaba influenciada por su percepción de riesgo, el eWOM y la lealtad a España. En el grupo británico, solo las variables TPB resultaron relevantes. Para el grupo de otras nacionalidades europeas, la lealtad y el eWOM también fueron significativas. Sin embargo, la experiencia de viaje, utilizada en estudios previos, se mostró no significativa en todos los grupos. En general, estos resultados ofrecen información sobre cómo las personas de diversos países y culturas adoptan los constructos antes mencionados cuando toman decisiones de viaje.

Originalidad/valor

Estudios previos han aplicado varios TPB extendidos a un país específico o han comparado los resultados entre países asiáticos. Nuestra propuesta hace una comparación de las variables utilizadas para predecir la intención de visitar un destino vacacional entre países europeos.

Article
Publication date: 21 November 2016

Kerstin Lopatta, Felix Canitz and Christian Fieberg

García Lara et al. (2011) argue that there is a conservatism-related priced risk factor in US stock returns. To put this to the test, the authors aim to analyze whether the…

Abstract

Purpose

García Lara et al. (2011) argue that there is a conservatism-related priced risk factor in US stock returns. To put this to the test, the authors aim to analyze whether the conditional conservatism effect comes from the loading on a conditional conservatism-related factor-mimicking portfolio (systematic risk) or the conservatism characteristic itself.

Design/methodology/approach

The authors form characteristic-balanced portfolios from dependent sorts of stocks on the firm’s degree of conservatism and the firm’s loading on the conservatism-related factor-mimicking portfolio as proposed by Daniel and Titman (1997) and Davis et al. (2000).

Findings

The tests indicate that it is the conditional conservatism characteristic rather than the factor loading that explains the cross-sectional differences in average stock returns. Consequently, they do not find evidence for a conservatism-related priced risk factor.

Originality/value

This finding suggests that investors misvalue the conservatism characteristic and casts doubt on the rational risk explanation as proposed by García Lara et al. (2011).

Details

The Journal of Risk Finance, vol. 17 no. 5
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 9 February 2015

Hoang Vu Phan, Quang-Tri Truong and Hoon-Cheol Park

The purpose of this paper is to demonstrate the uncontrolled vertical takeoff of an insect-mimicking flapping-wing micro air vehicle (FW-MAV) of 12.5 cm wing span with a body…

Abstract

Purpose

The purpose of this paper is to demonstrate the uncontrolled vertical takeoff of an insect-mimicking flapping-wing micro air vehicle (FW-MAV) of 12.5 cm wing span with a body weight of 7.36 g after installing batteries and power control.

Design/methodology/approach

The forces were measured using a load cell and estimated by the unsteady blade element theory (UBET), which is based on full three-dimensional wing kinematics. In addition, the mean aerodynamic force center (AC) was determined based on the UBET calculations using the measured wing kinematics.

Findings

The wing flapping frequency can reach to 43 Hz at the flapping angle of 150°. By flapping wings at a frequency of 34 Hz, the FW-MAV can produce enough thrust to over its own weight. For this condition, the difference between the estimated and average measured vertical forces was about 7.3 percent with respect to the estimated force. All parts for the FW-MAV were integrated such that the distance between the mean AC and the center of gravity is close to zero. In this manner, pitching moment generation was prevented to facilitate stable vertical takeoff. An uncontrolled takeoff test successfully demonstrated that the FW-MAV possesses initial pitching stability for takeoff.

Originality/value

This work has successfully demonstrated an insect-mimicking flapping-wing MAV that can stably takeoff with initial stability.

Details

International Journal of Intelligent Unmanned Systems, vol. 3 no. 1
Type: Research Article
ISSN: 2049-6427

Keywords

Article
Publication date: 6 May 2014

Wan Yang and Anna S. Mattila

This paper aims to examine the joint effects of product type (hospitality services vs goods) and consumers’ need for status (low/Patricians vs high/Parvenus) on consumers’…

7261

Abstract

Purpose

This paper aims to examine the joint effects of product type (hospitality services vs goods) and consumers’ need for status (low/Patricians vs high/Parvenus) on consumers’ attitude change toward their favorite luxury brands. As an ever increasing number of customers can now afford luxury products, it is important to understand how affluent consumers react to the less affluent mimicking behaviors.

Design/methodology/approach

In all, 265 luxury consumers with annual household income of more than $100,000 and experiences of luxury consumption in the past three months were recruited. A 2 (product type) × 2 (need for status) factorial design was used to test the hypotheses.

Findings

This study demonstrates that when faced with mimicking behaviors by less affluent consumers, Parvenus exhibit more negative attitude toward their favorite luxury goods brands than luxury hospitality brands. Conversely, Patricians exhibit similar levels of attitude change across the two types of luxury brands.

Practical implications

The findings suggest that luxury hospitality companies may find it easier to expand to less affluent markets than their luxury goods counterparts, in particular when the majority of target consumers are Parvenus.

Originality/value

To the best of the authors’ knowledge, this study is the first to examine consumers’ reactions to mimicking behaviors by the less affluent in the context of luxury hospitality services, and it adds to the knowledge on the joint effects of product type and status seeking on luxury consumption.

Details

International Journal of Contemporary Hospitality Management, vol. 26 no. 4
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 27 May 2022

John Galakis, Ioannis Vrontos and Panos Xidonas

This study aims to introduce a tree-structured linear and quantile regression framework to the analysis and modeling of equity returns, within the context of asset pricing.

Abstract

Purpose

This study aims to introduce a tree-structured linear and quantile regression framework to the analysis and modeling of equity returns, within the context of asset pricing.

Design/Methodology/Approach

The approach is based on the idea of a binary tree, where every terminal node parameterizes a local regression model for a specific partition of the data. A Bayesian stochastic method is developed including model selection and estimation of the tree structure parameters. The framework is applied on numerous U.S. asset pricing models, using alternative mimicking factor portfolios, frequency of data, market indices, and equity portfolios.

Findings

The findings reveal strong evidence that asset returns exhibit asymmetric effects and non- linear patterns to different common factors, but, more importantly, that there are multiple thresholds that create several partitions in the common factor space.

Originality/Value

To the best of the authors' knowledge, this paper is the first to explore and apply a tree-structured and quantile regression framework in an asset pricing context.

Details

Review of Accounting and Finance, vol. 21 no. 3
Type: Research Article
ISSN: 1475-7702

Keywords

Open Access
Article
Publication date: 24 December 2020

Sudipta Kumar Nanda and Parama Barai

This paper investigates if investors consider legal insider trading data while making investment decisions. If any investment decision is based on insider transactions, then it…

6706

Abstract

Purpose

This paper investigates if investors consider legal insider trading data while making investment decisions. If any investment decision is based on insider transactions, then it will result in abnormal stock characteristics. The purpose of this paper is to investigate if insider trading affects stock characteristics like price, return and volume. The paper further investigates the effect on stock characteristics after the trade of different types of insiders and the relationship between abnormal return and abnormal volume.

Design/methodology/approach

The study uses the event study method to measure the abnormal price, return and volume. Two-stage least square regression is used to investigate the relationship between abnormal return and abnormal volume.

Findings

The insider trades affect price, return and volume. The results are identical for both buy and sell transactions. The trades of different types of insiders have diverse effects on stock characteristics. The trades of substantial shareholders give rise to the highest abnormal price and return, whereas the promoters' trades result in the highest abnormal volume. No relationship is detected between abnormal return and volume.

Originality/value

A novel method to calculate the abnormal price is proposed. The effect of trading of all types of insiders on stock characteristics is analyzed. The relationship between abnormal return and abnormal volume, after an insider trade, is investigated.

Details

Asian Journal of Accounting Research, vol. 6 no. 2
Type: Research Article
ISSN: 2443-4175

Keywords

Article
Publication date: 1 January 2010

Yawen Jiao

The purpose of this paper is to investigate the role of “soft information” in firms’ debt issue and capital structure choices, and present a new model reconciling the gap between…

3321

Abstract

Purpose

The purpose of this paper is to investigate the role of “soft information” in firms’ debt issue and capital structure choices, and present a new model reconciling the gap between theories of capital structure and empirical findings.

Design/methodology/approach

The paper develops an analytical model of debt issues under asymmetric information in a setting where, in addition to observing the amount of debt the firm issues, outside investors obtain “soft information” signals through their own information production or noisy voluntary disclosures made by the firm. This paper analyzes the benefit and cost for the firm's debt issue decisions in this setting, and specifies the effect of soft information on these decisions.

Findings

If sufficiently precise soft information is available to outside investors, the firm's debt issue behavior is significantly altered relative to that in existing models. In particular, an inverted‐U shape relationship is found between the intrinsic value of the firm and the amount of debt it issues. Moreover, there is a negative relationship between the amount of debt the firm issues and the precision of soft information. Further, it is found that firms about which outside investors receive more favorable soft information issue less debt.

Research limitations/implications

The model predicts an inverted‐U shape relationship between firms’ debt ratios and operating performance. It also predicts that firms about which outside investors receive more favorable or more precise soft information have lower debt ratios on average. A rationale is provided for the existence of firms’ investor relations departments.

Originality/value

Firms’ capital structure choices remain a topic of significant importance. This paper incorporates the soft informations into firms’ debt issue decisions and proposes a new model of capital structure that generates insights into firms’ financing decisions and disclosure decisions, as well as information production by outside investors.

Details

Managerial Finance, vol. 36 no. 1
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 27 March 2009

J.K. Stroble, R.B. Stone and S.E. Watkins

The purpose of this paper is to provide an overview of the wide range of biomimetic sensor technology and innovations.

1894

Abstract

Purpose

The purpose of this paper is to provide an overview of the wide range of biomimetic sensor technology and innovations.

Design/methodology/approach

The reader is introduced to biomimetic sensors, their types, their advantages and how they are different from traditional sensors. Background information is also provided regarding sensor design, inspiration and innovation.

Findings

There are two approaches to sensor design, which lead to diverse advantages and innovations. Classification of biomimetic sensors indicated which natural senses are underutilized by sensor designers and researchers.

Originality/value

The paper provides information of value for those seeking innovative sensor designs and research information for those who want to research in this area.

Details

Sensor Review, vol. 29 no. 2
Type: Research Article
ISSN: 0260-2288

Keywords

Article
Publication date: 5 August 2021

Erina Baynojir Joyee, Jida Huang, Ketki Mahadeo Lichade and Yayue Pan

The purpose of this study is to develop a novel approach to designing locally programmed multi-material distribution in a three-dimensional (3D) model, with the goal of producing…

Abstract

Purpose

The purpose of this study is to develop a novel approach to designing locally programmed multi-material distribution in a three-dimensional (3D) model, with the goal of producing a biomimetic robot that could mimic the locomotion of living organisms.

Design/methodology/approach

A voxelized representation is used to design the multi-material digital model and the material distribution in the model is optimized with the aims of mimicking the deflection dynamics of a real-life biological structure (i.e. inchworms) during its locomotion and achieving smooth deflection between adjacent regions. The design is validated post-fabrication by comparing the bending profiles of the printed robot with the deflection reference images of the real-life organism.

Findings

The proposed design framework in this study provides a foundation for multi-material multi-functional design for biomimicry and a wide range of applications in the manufacturing field and many other fields such as robotics and biomedical fields. The final optimized material design was 3D printed using a novel multi-material additive manufacturing method, magnetic field-assisted projection stereolithography. From the experimental tests, it was observed that the deflection curve and the deflection gradient of the printed robot within the adjacent regions of the body agreed well with the profiles taken from the real-life inchworm.

Originality/value

This paper presents a voxelized digital representation of the material distribution in printed parts, allowing spatially varied programming of material properties. The incorporation of reference images from living organisms into the design approach is a novel approach to transform image domain knowledge into the domain of engineering mechanical and material properties. Furthermore, the novel multi-material distribution design approach was validated through designing, 3D printing and prototyping an inchworm-inspired soft robot, which showed superior locomotion capability by mimicking the observed locomotion of the real inchworm.

Article
Publication date: 2 January 2024

Dimitrios Markopoulos, Anastasios Tsolakidis, Ioannis Triantafyllou, Georgios A. Giannakopoulos and Christos Skourlas

This study aims to analyze a conspicuous corpus of literature related to the field of technology-based intensive care research and to develop an architecture model of the future…

Abstract

Purpose

This study aims to analyze a conspicuous corpus of literature related to the field of technology-based intensive care research and to develop an architecture model of the future smart intensive care unit (ICU).

Design/methodology/approach

Papers related to the topics of electronic health record (EHR), big data, data flow and clinical decision support in ICUs were investigated. These concepts have been analyzed in combination with secondary use of data, prediction models, data standardization and interoperability challenges. Based on the findings, an architecture model evaluated using MIMIC III is proposed.

Findings

Research identified issues regarding implementation of systems, data sources, interoperability, management of big data and free text produced in ICUs and lack of accuracy of prediction models. ICU should be treated as part of a greater system, able to intercommunicate with other entities.

Research limitations/implications

The research examines the current needs of ICUs in interoperability and data management. As environment changes dynamically, continuous assessment and evaluation of the model with other ICU databases is required.

Originality/value

The proposed model improves ICUs interoperability in national health system, ICU staff intercommunication, remote access and decision support. Its modular approach ensures that ICUs can have their own particularities and specialisms while ICU functions provide ongoing expertise and training to upgrade its staff.

Details

Global Knowledge, Memory and Communication, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9342

Keywords

21 – 30 of over 9000