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The existing literature on the Black-Litterman (BL) model does not offer adequate guidance on how to generate investors’ views in an objective manner. Therefore, the purpose of this paper is to establish a generalized multivariate Vector Error Correction Model (VECM)/Vector Auto-Regressive (VAR)-Dynamic Conditional Correlation (DCC)/Asymmetric DCC (ADCC) framework, and applies it to generate objective views to improve the practicality of the BL model.

This paper establishes a generalized VECM/VAR-DCC/ADCC framework that can be utilized to model multivariate financial time series in general, and produce objective views as inputs to the BL model in particular. To test the VECM/VAR-DCC/ADCC preconditioned BL model’s practical utility, it is applied to a six-asset China portfolio (including one risk-free asset).

With dynamically optimized view confidence parameters, the VECM/VAR-DCC/ADCC preconditioned BL model offers clear advantage over the standard mean-variance method, and provides an automated portfolio optimization alternative to the classic BL approach.

The VECM/VAR-DCC/ADCC framework and its application in the BL model proposed by this paper provide an alternative approach to the classic BL method. Since all the view parameters, including estimated mean return vectors, conditional covariance matrices and pick matrices, are generated in the VECM/VAR and DCC/ADCC preconditioning stage, the model improves the objectiveness of the inputs to the BL stage. In conclusion, the proposed model offers a practical choice for automated portfolio balancing and optimization in a China context.

Based on an organizational capability perspective, this paper aims to propose a development model for social media analytics (SMA) capability that can be applied to business-to-business (B2B) marketing, with the aim of facilitating the use and integration of SMA in B2B marketing and maximizing the benefits of business networks in the age of social media.

This is a critical interpretive synthesis of SMA publications collected from academic journals, business magazines and the SMA service industry. In addition, an inter-disciplinary approach was adopted by drawing upon both marketing and information systems literature. In total, 123 academic papers, 106 industry case studies and 141 magazine papers were identified and analyzed. The findings were synthesized and compiled to address the predefined research question.

An SMA capability development model is proposed. The proposed model consists of four inter-dependent levels (technological, operational, managed and strategic) that collectively transfer the technological capability of SMA to the dynamic organizational capability. Each level of SMA capability is detailed. SMA-in-B2B marketing is highlighted as a socio-technical phenomenon, in which a technological level SMA capability is emphasized as the foundation for developing organizational level SMA capabilities and organizational capabilities, in turn, supporting and managing SMA activities and practices (e.g. strategic planning, social and cultural changes, skills and resources, measurements and values).

The proposed research framework may have implications for the operational level SMA development and the investigations on the direct and/or indirect measurements to help firms see the impact of SMA on their business.

This study may have implications for the adoption, use, integration and management of SMA in B2B marketing. The proposed model is grounded on the integrated insights from academia and industry. It is particularly relevant to B2B firms that have engaged in or plan to engage in applying SMA to extract insights from their online networks and is relevant to B2B researchers who are interested in SMA, big data and information technology organization integration studies.

The purpose of this study is to explore organizational social media capability in business-to-business (B2B) marketing, by focusing on what social media capability is in a B2B marketing context and how it is developed in firms engaged in B2B marketing.

This is a thematic literature review, drawing on both B2B marketing and Information Systems literature. In total, 112 academic articles from nine journals were identified and analyzed. The findings were synthesized and compiled to provide answers to the predefined research questions.

The results suggest that organizational social media capability is dependent on a deep understanding of a firm’s technological capability, i.e. recognizing the key features and categories of social media and dynamically upgrading the recognition in response to the environmental change. A four-level Social Media Capability Maturity Model (technological, operational, managed and strategic level) that collectively transfers social media’s technological capability to dynamic organizational capability is proposed.

This study contributes to an understanding of the use of social media in the context of B2B marketing from an organizational dynamic capability perspective. The model is particularly relevant to organizations that have adopted or plan to adopt a B2B social media strategy and is relevant for B2B researchers who are interested in social media research.

As an enabler of environmental sustainability, Green information technology (IT) has become an emerging topic of interest in both academic and business communities. Despite its importance, confusions exist in the content and scope of Green IT practice. The purpose of this paper is to provide an overview of the current state of Green IT practice.

First 14 widely accepted Green IT practice topics were identified from prior research and a taxonomy was developed to categorize them. Using the content analysis method, these topics were examined in the sustainability reports of 30 IT companies in 2014 Fortune 500. A quantity–quality portfolio framework was developed and applied to measure and assess the Green IT practices of the selected samples.

Currently, the Green IT practice is still in its infancy. Both research and practice attention are now focusing on IT’s direct impacts and enabling impacts, while overlooking the systemic impacts, on natural environment. The possible reasons for the current state and the recommendations for future research and practice are provided.

Theoretically, this paper identified 14 widely accepted Green IT practice topics and developed a taxonomy for categorizing them. The taxonomy and topics provide a theoretical basis for future examination on Green IT practice-related issues. Practically, the findings of this paper provide guidelines for Green IT practice and directions for both Green IT developers and adopters in their decision-making.

Cross-channel integration improves the operations of multi-channel and omnichannel marketing and increase firms' overall performance. By addressing the extant gaps in current literature, this configurational analysis aims to test the combined effects of organizational, channel and environmental factors on cross-channel integration.

Data were collected from a sample of 180 manufacturers. Necessary condition analysis (NCA) was used to test whether two organizational factors (firm size and IT capability), one environmental factor (environmental dynamism) and two channel factors (channel diversity and proportion of direct channels) were necessary or unnecessary conditions for high cross-channel integration. Fuzzy-set qualitative comparative analysis (fsQCA) was applied to analyze the configurational factors of high vs low cross-channel integration.

First, firm size and IT capability are non-linear and substitute for each other in affecting cross-channel integration in a diversified channel system with a high proportion of direct channels. Second, in a dynamic environment, firms with large size and IT advantage could achieve high cross-channel integration by diversifying channel types or increasing the proportion of direct channels. Third, the effect of channel diversity and proportion of direct channels on cross-channel integration is asymmetric depending on other antecedent conditions.

The authors tested a configurational framework developed from multiple theoretical perspectives. The authors' empirical findings contribute to the literature by providing insights into the mechanisms underlying the formation of high and low cross-channel integration. The results suggest multiple ways for firms to promote cross-channel integration by adjusting channel factors based on configurational conditions.

The purpose of this study is to investigate the flow interaction between the cavities and its impact on heat transfer. The role of the openings is examined and three strategies are considered: one opening, two openings on single side and two openings on double sides.

A two-dimensional laminar natural convection heat transfer in multilayered open cavities was numerically investigated. The governing equations in primitive variables were discretized by the finite volume method and solved by SIMPLE algorithm.

The results show that for the cavities with one opening, the flow in the cavities is connected with each other. The exhaust hot fluid from the lower cavity was entrained into the upper cavities by thermal buoyancy and hence the heat transfer in the upper cavities was decreased because of thermal accumulation. Two openings on the single side could strengthen the flow interaction between the cavities and then enhance the heat transfer. However, the double-sided openings eliminated the flow interaction between the cavities and thus the fluid flow and heat transfer characteristics in all cavities are independent. It was concluded that the flow interaction between the multilayered open cavities has an importance effect on the heat transfer in the cavities.

The flow interaction between the multilayered open cavities was illustrated. The effect of flow interaction on the heat transfer in the cavities was investigated. The role of openings in the flow interaction and heat transfer in cavities was explored. The cavity below affects above cavity for the openings on single side. No interaction exists between the cavities with openings on double sides.

The purpose of this study is to examine the role of social presence in enhancing positive behaviors in the virtual reality (VR)-based wine tourism context through an innovative approach.

Two sequential experimental studies were conducted to test proposed hypotheses using Web and head-mounted display (HMD) VR formats. Specifically, Study 1 probed the influence of social presence on mental imagery, which subsequently impacted destination visit intention, drinking intent and memorable experience. Study 2 used a field experiment to explore the boundary effects of environmental cues (nature versus social) on social presence and a series of behavioral intentions using an HMD format.

The findings represent one of the first efforts to unravel the influence of social presence on positive behaviors through mental imagery and the moderating role of environmental cues.

This research enhances the understanding of wine tourism, drawing upon social presence theory and stimulus-organism-response framework.

The outcomes provide valuable insights for wine tourism marketers in developing innovative marketing strategies by addressing the usage of social presence and environmental cues in a VR setting.

To the best of the authors’ knowledge, this study is the first to enrich the existing knowledge of wine tourism by exploring the role of social presence and environmental cues in both Web and HMD VR formats.

This study aims to investigate how the frame orientation format and visual content of tourism short videos interact to influence tourists’ travel intention.

Two scenario-based experiments were designed and conducted through Credamo. The researchers enrolled 187 participants for Study 1 using convenience sampling, measuring the impact of video frame orientation and visual content on travel intention by conducting a two-factor analysis of covariance. Study 2 retested the interaction effect using 237 sample data and conducted bootstrapping to examine the serially mediating effect of imagery fluency and travel inspiration.

Frame orientation formats and visual content interactively affect the video audience’s travel intention: For site-centric tourism short videos, the horizontal frame orientation format can help inspire audiences’ travel intention; However, for activity-centric tourism short videos, the vertical frame orientation format is more suitable. Imagery fluency and travel inspiration have serially mediated effects in the above interactions.

Destination marketers can use a combination of vertical format and activity-centric content (or horizontal format and site-centric content) to ensure the marketing effectiveness of short videos.

This study explores how frame orientation and visual content interact to influence video audiences’ travel intention. The findings challenge the traditional understanding of frame orientation selection in short videos, provide a meaningful extension of construal-level theory and contribute to the research on visual effects in short tourism videos.

本文旨在研究旅游短视频的画面方向格式和视觉内容如何交互影响游客的出游意愿。

本研究利用见数平台开展了两个情景实验。实验1招募了187名被试者, 利用双因素方差分析测量了视频画面方向和视觉内容对出游意愿的交互效应。实验2利用237个样本数复测了交互效应, 并验证了图像流畅性和旅游灵感对上述交互效应的链式中介作用。

框架方向格式和视觉内容交互影响视频受众的旅游意向：对于以景点为中心的旅游短视频而言, 水平方向的画面形式有助于激发受众的出游意愿; 但对于以活动为中心的旅游短视频而言, 垂直方向的画面形式更为适合。在上述交互作用中, 图像流畅度和旅游灵感具有链式中介效应。

目的地营销人员可以将垂直格式和以活动为中心的内容（或水平格式和以景点为中心的内容）结合起来使用, 以确保短视频的营销效果。

本研究探讨了框架取向和视觉内容如何相互作用并影响视频受众的出游意愿。研究结果挑战了关于短视频中画面方向选择的传统理解, 为旅游短视频构图相关理论提供了有意义的延伸, 并为旅游短视频中视觉效果的研究做出了贡献。

Este estudio investiga cómo el formato de orientación del marco y el contenido visual de los vídeos cortos turísticos interactúan para influir en la intención de viaje de los turistas.

Se diseñaron y llevaron a cabo dos experimentos basados en escenarios a través de Credamo. Los investigadores reclutaron a 187 participantes para el Estudio 1 mediante un muestreo de conveniencia, y midieron el impacto de la orientación del fotograma de vídeo y el contenido visual en la intención de viajar realizando un análisis de covarianza de dos factores. El Estudio 2 volvió a probar el efecto de interacción utilizando 237 datos de muestra y realizó bootstrapping para examinar el efecto de mediación en serie de la fluidez de las imágenes y la inspiración para viajar.

Los formatos de orientación de los fotogramas y el contenido visual influyen de forma interactiva en la intención de viajar del público del vídeo: Para los vídeos turísticos de corta duración centrados en un lugar, el formato de orientación horizontal puede ayudar a inspirar la intención de viajar del público; sin embargo, para los vídeos turísticos de corta duración centrados en una actividad, el formato de orientación vertical es más adecuado. La fluidez de las imágenes y la inspiración para viajar tienen efectos mediados en serie en las interacciones mencionadas.

Los responsables de marketing de destinos pueden utilizar una combinación de formato vertical y contenido centrado en la actividad (o formato horizontal y contenido centrado en el sitio) para garantizar la eficacia de marketing de los vídeos cortos.

Este estudio explora cómo la orientación del encuadre y el contenido visual interactúan para influir en la intención de viaje de los espectadores de vídeos. Los resultados cuestionan la interpretación tradicional de la selección de la orientación del encuadre en los vídeos cortos, proporcionan una ampliación significativa de la teoría del nivel de construcción y contribuyen a la investigación sobre los efectos visuales en los vídeos turísticos cortos.

This two-part explanatory study aims to examine how the framing of messages influences non-Muslims who are unlikely to visit a mosque due to their self-conception, and how this might affect their behavioural change specifically, their intention to visit. This study also tested the impact of co-existence between framed actual image, ideal image and the intention to visit.

Using a snowball sampling approach, the study first sampled participants without message framing (358 respondents). Using the same respondents, the second phase of the study introduced message framing, resulting in 308 participants. Structural equation modelling was conducted using STATA Version 15.

The results indicate that a framed actual self-image is a stronger predictor of changes in consumer behaviour and thus leads to the intention to visit. The introduction of co-existence provided significant insights.

To the best of the author’s knowledge, this is the first study to objectively test the effectiveness of a framing technique in mosque tourism and to highlight message framing as a valid marketing strategy that can enhance consumer (tourist) switching behaviour towards the intention to visit. This study adds new insights into the psychological relationships between framed actual image, framed ideal image, co-existence and intention to visit, which has implications for self-congruity theory.

This study aims to understand pathways to success for food video bloggers (food vloggers) by identifying the drivers of positive reception among audiences. It examines how entertainment, information and interaction values affect attitudes toward food videos and vloggers. Additionally, it investigates the potential for product placement by studying the effects of attitudes toward food videos and vloggers on consumers’ behavioral intention regarding purchasing featured food ingredients.

An integrated model informed by theories (uses and gratification and stimulus-organism-response) was developed. An online survey was administered to 339 Vietnamese social media users. The data were analyzed using partial least square structural equation modeling (PLS-SEM).

The results show that food videos’ entertainment and information value positively impact the attitude toward food videos. However, the interaction value does not have a significant impact. All three values (entertainment value, information value and interaction) impact the attitude toward food vloggers. Both attitudes significantly influence purchase intention, showing that there is a pathway to product placement. The frequency of social media use can moderate these relationships, with a negative effect on the attitude toward food videos and a positive effect on the attitude toward food vloggers.

These findings provide insights into vlogger success pathways, not only in terms of audience reception but also in terms of product placement. This study offers comprehensive suggestions on pathways for success that are interesting for vloggers, food business operators, restaurant managers and audiences on how to design effective food videos and potentially encourage consumer purchases. These pathways can also be valuable for other behaviors, such as food safety advice and food waste reduction.