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Article
Publication date: 19 April 2023

Shanaka Herath, Vince Mangioni, Song Shi and Xin Janet Ge

House price fluctuations send vital signals to many parts of the economy, and long-term predictions of house prices are of great interest to governments and property developers…

Abstract

Purpose

House price fluctuations send vital signals to many parts of the economy, and long-term predictions of house prices are of great interest to governments and property developers. Although predictive models based on economic fundamentals are widely used, the common requirement for such studies is that underlying data are stationary. This paper aims to demonstrate the usefulness of alternative filtering methods for forecasting house prices.

Design/methodology/approach

We specifically focus on exponential smoothing with trend adjustment and multiplicative decomposition using median house prices for Sydney from Q3 1994 to Q1 2017. The model performance is evaluated using out-of-sample forecasting techniques and a robustness check against secondary data sources.

Findings

Multiplicative decomposition outperforms exponential smoothing at forecasting accuracy. The superior decomposition model suggests that seasonal and cyclical components provide important additional information for predicting house prices. The forecasts for 2017–2028 suggest that prices will slowly increase, going past 2016 levels by 2020 in the apartment market and by 2022/2023 in the detached housing market.

Research limitations/implications

We demonstrate that filtering models are simple (univariate models that only require historical house prices), easy to implement (with no condition of stationarity) and widely used in financial trading, sports betting and other fields where producing accurate forecasts is more important than explaining the drivers of change. The paper puts forward a case for the inclusion of filtering models within the forecasting toolkit as a useful reference point for comparing forecasts from alternative models.

Originality/value

To the best of the authors’ knowledge, this paper undertakes the first systematic comparison of two filtering models for the Sydney housing market.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 19 July 2023

Rafael Teixeira, Jorge Junio Moreira Antunes, Peter Wanke, Henrique Luiz Correa and Yong Tan

This paper aims to measure and unveil the relationship between customer satisfaction and efficiency levels in the most relevant Brazilian airports.

Abstract

Purpose

This paper aims to measure and unveil the relationship between customer satisfaction and efficiency levels in the most relevant Brazilian airports.

Design/methodology/approach

The authors utilize a two-stage network DEA (data envelopment analysis) and AHP (analytic hierarchy process) model as the cornerstones of the study. The first stage of the network productive structure focuses on examining the infrastructure efficiency of the selected airports, while the second stage assesses their business efficiency.

Findings

Although the results indicate that infrastructure and business efficiency levels are heterogeneous and widely dispersed across airports, controlling the regression results with different contextual variables suggests that the impact of efficiency levels on customer satisfaction is mediated by a set of socio-economic and demographic (endogenous) and regulatory (exogenous) variables. Furthermore, encouraging investment in airports is necessary to achieve higher infrastructural efficiency and scale efficiency, thereby improving customer satisfaction.

Originality/value

There is a scarcity of studies examining the relationships among customer satisfaction, privatization and airport efficiency, particularly in developing countries like Brazil.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 31 December 2021

Praveen Kumar Lendale and N.M. Nandhitha

Speckle noise removal in ultrasound images is one of the important tasks in biomedical-imaging applications. Many filtering -based despeckling methods are discussed in many…

Abstract

Purpose

Speckle noise removal in ultrasound images is one of the important tasks in biomedical-imaging applications. Many filtering -based despeckling methods are discussed in many existing works. Two-dimensional (2-D) transforms are also used enormously for the reduction of speckle noise in ultrasound medical images. In recent years, many soft computing-based intelligent techniques have been applied to noise removal and segmentation techniques. However, there is a requirement to improve the accuracy of despeckling using hybrid approaches.

Design/methodology/approach

The work focuses on double-bank anatomy with framelet transform combined with Gaussian filter (GF) and also consists of a fuzzy kind of clustering approach for despeckling ultrasound medical images. The presented transform efficiently rejects the speckle noise based on the gray scale relative thresholding where the directional filter group (DFB) preserves the edge information.

Findings

The proposed approach is evaluated by different performance indicators such as the mean square error (MSE), peak signal to noise ratio (PSNR) speckle suppression index (SSI), mean structural similarity and the edge preservation index (EPI) accordingly. It is found that the proposed methodology is superior in terms of all the above performance indicators.

Originality/value

Fuzzy kind clustering methods have been proved to be better than the conventional threshold methods for noise dismissal. The algorithm gives a reconcilable development as compared to other modern speckle reduction procedures, as it preserves the geometric features even after the noise dismissal.

Details

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

Keywords

Article
Publication date: 20 March 2024

Vinod Bhatia and K. Kalaivani

Indian railways (IR) is one of the largest railway networks in the world. As a part of its strategic development initiative, demand forecasting can be one of the indispensable…

Abstract

Purpose

Indian railways (IR) is one of the largest railway networks in the world. As a part of its strategic development initiative, demand forecasting can be one of the indispensable activities, as it may provide basic inputs for planning and control of various activities such as coach production, planning new trains, coach augmentation and quota redistribution. The purpose of this study is to suggest an approach to demand forecasting for IR management.

Design/methodology/approach

A case study is carried out, wherein several models i.e. automated autoregressive integrated moving average (auto-ARIMA), trigonometric regressors (TBATS), Holt–Winters additive model, Holt–Winters multiplicative model, simple exponential smoothing and simple moving average methods have been tested. As per requirements of IR management, the adopted research methodology is predominantly discursive, and the passenger reservation patterns over a five-year period covering a most representative train service for the past five years have been employed. The relative error matrix and the Akaike information criterion have been used to compare the performance of various models. The Diebold–Mariano test was conducted to examine the accuracy of models.

Findings

The coach production strategy has been proposed on the most suitable auto-ARIMA model. Around 6,000 railway coaches per year have been produced in the past 3 years by IR. As per the coach production plan for the year 2023–2024, a tentative 6551 coaches of various types have been planned for production. The insights gained from this paper may facilitate need-based coach manufacturing and optimum utilization of the inventory.

Originality/value

This study contributes to the literature on rail ticket demand forecasting and adds value to the process of rolling stock management. The proposed model can be a comprehensive decision-making tool to plan for new train services and assess the rolling stock production requirement on any railway system. The analysis may help in making demand predictions for the busy season, and the management can make important decisions about the pricing of services.

Details

foresight, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 20 November 2023

Thorsten Teichert, Christian González-Martel, Juan M. Hernández and Nadja Schweiggart

This study aims to explore the use of time series analyses to examine changes in travelers’ preferences in accommodation features by disentangling seasonal, trend and the COVID-19…

Abstract

Purpose

This study aims to explore the use of time series analyses to examine changes in travelers’ preferences in accommodation features by disentangling seasonal, trend and the COVID-19 pandemic’s once-off disruptive effects.

Design/methodology/approach

Longitudinal data are retrieved by online traveler reviews (n = 519,200) from the Canary Islands, Spain, over a period of seven years (2015 to 2022). A time series analysis decomposes the seasonal, trend and disruptive effects of six prominent accommodation features (view, terrace, pool, shop, location and room).

Findings

Single accommodation features reveal different seasonal patterns. Trend analyses indicate long-term trend effects and short-term disruption effects caused by Covid-19. In contrast, no long-term effect of the pandemic was found.

Practical implications

The findings stress the need to address seasonality at the single accommodation feature level. Beyond targeting specific features at different guest groups, new approaches could allow dynamic price optimization. Real-time insight can be used for the targeted marketing of platform providers and accommodation owners.

Originality/value

A novel application of a time series perspective reveals trends and seasonal changes in travelers’ accommodation feature preferences. The findings help better address travelers’ needs in P2P offerings.

Details

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

Keywords

Article
Publication date: 5 December 2023

Dezhao Tang, Qiqi Cai, Tiandan Nie, Yuanyuan Zhang and Jinghua Wu

Integrating artificial intelligence and quantitative investment has given birth to various agricultural futures price prediction models suitable for nonlinear and non-stationary…

Abstract

Purpose

Integrating artificial intelligence and quantitative investment has given birth to various agricultural futures price prediction models suitable for nonlinear and non-stationary data. However, traditional models have limitations in testing the spatial transmission relationship in time series, and the actual prediction effect is restricted by the inability to obtain the prices of other variable factors in the future.

Design/methodology/approach

To explore the impact of spatiotemporal factors on agricultural prices and achieve the best prediction effect, the authors innovatively propose a price prediction method for China's soybean and palm oil futures prices. First, an improved Granger Causality Test was adopted to explore the spatial transmission relationship in the data; second, the Seasonal and Trend decomposition using Loess model (STL) was employed to decompose the price; then, the Apriori algorithm was applied to test the time spillover effect between data, and CRITIC was used to extract essential features; finally, the N-Beats model was selected as the prediction model for futures prices.

Findings

Using the Apriori and STL algorithms, the authors found a spillover effect in agricultural prices, and past trends and seasonal data will impact future prices. Using the improved Granger causality test method to analyze the unidirectional causality relationship between the prices, the authors obtained a spatial effect among the agricultural product prices. By comparison, the N-Beats model based on the spatiotemporal factors shows excellent prediction effects on different prices.

Originality/value

This paper addressed the problem that traditional models can only predict the current prices of different agricultural products on the same date, and traditional spatial models cannot test the characteristics of time series. This result is beneficial to the sustainable development of agriculture and provides necessary numerical and technical support to ensure national agricultural security.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 4 May 2023

Jian Chen, Di Zhao, Yan-Nan Yu and Si-Yuan Wang

The authors empirically examined the theoretically recognized industrial linkages between manufacturing and services from the trade perspective. In particular, they confirmed the…

Abstract

Purpose

The authors empirically examined the theoretically recognized industrial linkages between manufacturing and services from the trade perspective. In particular, they confirmed the trade effect of manufacturing on services, given that global value chain fragmentation pervades and splits manufacturing and services segments separately in developed and developing countries.

Design/methodology/approach

Based on observations of 47 countries with manufacturing and service trade data from 1990 to 2020 and with gravity model specification, the authors primarily used the Poisson pseudo-maximum likelihood (PPML) estimation with multiple levels of fixed effects. Considering that many zero values are included in the dependent variable and potential endogeneity, other methods such as Tobit regression, Heckman estimation and two-stage least squares estimation (2SLS) are used. Subsample estimation also supplemented the empirical research.

Findings

The results showed that manufacturing trade is a stepping-stone rather than an obstacle to service trade. This finding exhibited significant robustness under different model specifications, instrumental variable estimation and subsample checks. Moreover, in contrast to the north–north country ties, manufacturing trade between northern and southern countries has played a prominent stepping-stone role; meanwhile, manufacturing trade among core–peripheral countries has a considerably more significant impact than the outcomes of core–core and peripheral–peripheral countries.

Originality/value

The authors provided direct clarification and revealed that trade in manufacturing remains the demand basis for service trade. As trade in manufacturing and services are typical phenomena of transnational production linkages, the authors suggested exploring the underlying role of global value chain (GVC) fragmentation and the offset and even barrier effect of biased institutional arrangements on GVC fragmentation.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Open Access
Article
Publication date: 5 April 2023

Edoardo Ballico

The author studies forms over finite fields obtained as the determinant of Hermitian matrices and use these determinatal forms to define and study the base polynomial of a square…

Abstract

Purpose

The author studies forms over finite fields obtained as the determinant of Hermitian matrices and use these determinatal forms to define and study the base polynomial of a square matrix over a finite field.

Design/methodology/approach

The authors give full proofs for the new results, quoting previous works by other authors in the proofs. In the introduction, the authors quoted related references.

Findings

The authors get a few theorems, mainly describing some monic polynomial arising as a base polynomial of a square matrix.

Originality/value

As far as the author knows, all the results are new, and the approach is also new.

Details

Arab Journal of Mathematical Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1319-5166

Keywords

Article
Publication date: 7 March 2024

Karan Raj and Devashish Sharma

The purpose of this study is to construct a new index to assess the impact of an energy price shock on macroeconomic indicators of India. This paper also shows a comparative…

Abstract

Purpose

The purpose of this study is to construct a new index to assess the impact of an energy price shock on macroeconomic indicators of India. This paper also shows a comparative analysis of the constructed index along with pre-existing World Bank and International Monetary Fund indices on energy.

Design/methodology/approach

This paper uses three vector autoregressions and compute the long-term impact of the indices on the considered macroeconomic variables through impulse response functions.

Findings

This paper finds that an energy price shock has a detrimental impact on the macroeconomic indicators of India in the long run. This study also finds that the constructed index acts as a relatively more sensitive index in comparison to the International Monetary Fund and World Bank indices, which is bespoke to a developing economy case. This sensitivity is ascribed to dynamic weighting for a different basket of energy components, which are more pertinent to an Indian context.

Originality/value

The novelty of this research lies in the construction of a new index and its comparison to the existing ones. This study justifies why a developing economy would require a different measure of energy as opposed to the existing indices.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 9 May 2023

Yiming Li, Hongzhuan Chen, Shuo Cheng and Abdul Waheed Siyal

In order to analyze the level of independent controllability and its evolution of high-end equipment manufacturing industry from Jiangsu Province, this article introduces the…

Abstract

Purpose

In order to analyze the level of independent controllability and its evolution of high-end equipment manufacturing industry from Jiangsu Province, this article introduces the dual-excitation control line method to construct a comprehensive evaluation model for independent controllability.

Design/methodology/approach

Through the collection of information of high-end equipment manufacturing industry's independent and controllable capabilities on different indicators, the three aspects of advancement, autonomy and controllability, an empirical evaluation of 10 enterprises in the high-end equipment cluster in Jiangsu Province was conducted in terms of advancement, autonomy and controllability.

Findings

It effectively reveals the area and evolution characteristics of the “reward” and “punishment” of different indicators of each representative enterprise and reflects the development status and different characteristics of each representative enterprise on the three indicators. The research results provide decision-making guidance for enterprises in the management and control of advanced manufacturing systems with independent and controllable capabilities.

Originality/value

Existing research focuses on the evaluation of enterprises' independent controllability only on a single angle or index. This paper maps the dynamic evaluation problem of multiple time-point data to the evaluation problem of single time-point multi-index data and investigates the fluctuation of the performance of the same enterprise under different indexes, so as to comprehensively evaluate the independent controllable level of high-end equipment manufacturing industry and analyze the reasons. Further, this paper first establishes an evaluation index system of independent controllable level of high-end equipment manufacturing industry and quantitatively measures the advanced, independent, controllable and other aspects of typical enterprises in this industry by constructing a double incentive control line evaluation model.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

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