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1 – 10 of 34Chuanmin Mi, Xiaoyi Gou, Yating Ren, Bo Zeng, Jamshed Khalid and Yuhuan Ma
Accurate prediction of seasonal power consumption trends with impact disturbances provides a scientific basis for the flexible balance of the long timescale power system…
Abstract
Purpose
Accurate prediction of seasonal power consumption trends with impact disturbances provides a scientific basis for the flexible balance of the long timescale power system. Consequently, it fosters reasonable scheduling plans, ensuring the safety of the system and improving the economic dispatching efficiency of the power system.
Design/methodology/approach
First, a new seasonal grey buffer operator in the longitudinal and transverse dimensional perspectives is designed. Then, a new seasonal grey modeling approach that integrates the new operator, full real domain fractional order accumulation generation technique, grey prediction modeling tool and fruit fly optimization algorithm is proposed. Moreover, the rationality, scientificity and superiority of the new approach are verified by designing 24 seasonal electricity consumption forecasting approaches, incorporating case study and amalgamating qualitative and quantitative research.
Findings
Compared with other comparative models, the new approach has superior mean absolute percentage error and mean absolute error. Furthermore, the research results show that the new method provides a scientific and effective mathematical method for solving the seasonal trend power consumption forecasting modeling with impact disturbance.
Originality/value
Considering the development trend of longitudinal and transverse dimensions of seasonal data with impact disturbance and the differences in each stage, a new grey buffer operator is constructed, and a new seasonal grey modeling approach with multi-method fusion is proposed to solve the seasonal power consumption forecasting problem.
Highlights
The highlights of the paper are as follows:
A new seasonal grey buffer operator is constructed.
The impact of shock perturbations on seasonal data trends is effectively mitigated.
A novel seasonal grey forecasting approach with multi-method fusion is proposed.
Seasonal electricity consumption is successfully predicted by the novel approach.
The way to adjust China's power system flexibility in the future is analyzed.
A new seasonal grey buffer operator is constructed.
The impact of shock perturbations on seasonal data trends is effectively mitigated.
A novel seasonal grey forecasting approach with multi-method fusion is proposed.
Seasonal electricity consumption is successfully predicted by the novel approach.
The way to adjust China's power system flexibility in the future is analyzed.
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Xiaomei Liu, Bin Ma, Meina Gao and Lin Chen
A time-varying grey Fourier model (TVGFM(1,1,N)) is proposed for the simulation of variable amplitude seasonal fluctuation time series, as the performance of traditional grey…
Abstract
Purpose
A time-varying grey Fourier model (TVGFM(1,1,N)) is proposed for the simulation of variable amplitude seasonal fluctuation time series, as the performance of traditional grey models can't catch the time-varying trend well.
Design/methodology/approach
The proposed model couples Fourier series and linear time-varying terms as the grey action, to describe the characteristics of variable amplitude and seasonality. The truncated Fourier order N is preselected from the alternative order set by Nyquist-Shannon sampling theorem and the principle of simplicity, then the optimal Fourier order is determined by hold-out method to improve the robustness of the proposed model. Initial value correction and the multiple transformation are also studied to improve the precision.
Findings
The new model has a broader applicability range as a result of the new grey action, attaining higher fitting and forecasting accuracy. The numerical experiment of a generated monthly time series indicates the proposed model can accurately fit the variable amplitude seasonal sequence, in which the mean absolute percentage error (MAPE) is only 0.01%, and the complex simulations based on Monte-Carlo method testify the validity of the proposed model. The results of monthly electricity consumption in China's primary industry, demonstrate the proposed model catches the time-varying trend and has good performances, where MAPEF and MAPET are below 5%. Moreover, the proposed TVGFM(1,1,N) model is superior to the benchmark models, grey polynomial model (GMP(1,1,N)), grey Fourier model (GFM(1,1,N)), seasonal grey model (SGM(1,1)), seasonal ARIMA model seasonal autoregressive integrated moving average model (SARIMA) and support vector regression (SVR).
Originality/value
The parameter estimates and forecasting of the new proposed TVGFM are studied, and the good fitting and forecasting accuracy of time-varying amplitude seasonal fluctuation series are testified by numerical simulations and a case study.
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Raka Saxena, Anjani Kumar, Ritambhara Singh, Ranjit Kumar Paul, M.S. Raman, Rohit Kumar, Mohd Arshad Khan and Priyanka Agarwal
The present study provides evidence on export advantages of horticultural commodities based on competitiveness, trade balance and seasonality dimensions.
Abstract
Purpose
The present study provides evidence on export advantages of horticultural commodities based on competitiveness, trade balance and seasonality dimensions.
Design/methodology/approach
The study delineated horticultural commodities in terms of comparative advantage, examined temporal shifts in export advantages (mapping) and estimated seasonality. Product mapping was carried out using the Revealed Symmetric Comparative Advantage (RSCA) and Trade Balance Index (TBI). Seasonal advantages were examined through a graphical approach along with the objective tests, namely, modified QS-test (QS), Friedman-test (FT) and using a seasonal dummy.
Findings
Cucumbers/gherkins, onions, preserved vegetables, fresh grapes, shelled cashew nuts, guavas, mangoes, and spices emerged as the most favorable horticultural products. India has a strong seasonal advantage in dried onions, cucumber/gherkins, shelled cashew nut, dried capsicum, coriander, cumin, and turmeric. The untapped potential in horticulture can be addressed by handling the trade barriers effectively, particularly the sanitary and phytosanitary issues, affecting the exports. Proper policies must be enacted to facilitate the investment in advanced agricultural technologies and logistics to ensure the desired quality and cost effectiveness.
Research limitations/implications
Commodity-specific studies on value chain analysis would provide valuable insights into the issues hindering exports and realizing the untapped export potential.
Originality/value
There is no holistic and recent study illustrating the horticulture export advantages covering a large number of commodities in the Indian context. The study would be helpful to the stakeholders for drawing useful policy implications.
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This paper aims to examine the dynamics of house prices in metropolitan cities in an emerging economy. The purpose of this study is to characterise the house price dynamics and…
Abstract
Purpose
This paper aims to examine the dynamics of house prices in metropolitan cities in an emerging economy. The purpose of this study is to characterise the house price dynamics and the spatial heterogeneity in the dynamics.
Design/methodology/approach
The author explores spatial heterogeneity in house price dynamics, using data for 35 Indian cities with a million-plus population. The research methodology uses panel econometrics allowing for spatial heterogeneity, cross-sectional dependence and non-stationary data. The author tests for spatial differences and analyses the income elasticity of prices, the role of construction costs and lending to the real estate industry by commercial banks.
Findings
Long-term fundamentals drive the Indian housing markets, where wealth parameters are stronger than supply-side parameters such as construction costs or availability of financing for housing projects. The long-term elasticity of house prices to aggregate household deposits (wealth proxy) varies considerably across cities. However, the elasticity estimated at 0.39 is low. The highest coefficient is for Ludhiana (1.14), followed by Bhubaneswar (0.78). The short-term dynamics are robust and show spatial heterogeneity. Short-term momentum (lagged housing price changes) has a parameter value of 0.307. The momentum factor is the crucial dynamic in the short term. The second driver, the reversion rate to long-term equilibrium (estimated at −0.18), is higher than rates reported from developed markets.
Research limitations/implications
This research applies to markets that require some home equity contributions from buyers of housing services.
Practical implications
Stakeholders can characterise stable housing markets based on long-term fundamental value and short-run house price dynamics. Because stable housing markets benefit all stakeholders, weak or non-existent mean reversion dynamics may prompt the intervention of policymakers. The role of urban planners, and local and regional governance, is essential to remove the bottlenecks from the demand side or supply side factors that can lead to runaway prices.
Originality/value
Existing literature is concerned about the risk of a housing bubble due to relaxed credit norms. To prevent housing market bubbles, some regulators require higher contributions from home buyers in the form of equity. The dynamics of house prices in markets with higher owner equity requirements vary from high-leverage markets. The influence of wealth effects is examined using novel data sets. This research, documents in an emerging market context, the observations cited in low-leverage developed markets such as Germany and Japan.
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Yuxin Shan, Vernon J. Richardson and Peng Cheng
A country’s institutional environment influences every facet of its business. This paper aims to identify institutional factors (state ownership, government attention on…
Abstract
Purpose
A country’s institutional environment influences every facet of its business. This paper aims to identify institutional factors (state ownership, government attention on employment and employees’ educational background) that affect the asymmetric cost behavior in China.
Design/methodology/approach
Using 2,570 listed firms’ data between 2002 and 2015, we use empirical models to explore the effects of state ownership, government attention on employment and employees’ educational background on the asymmetric cost behavior in China.
Findings
This study found that the asymmetric cost behavior of central state-owned enterprises (CSOEs) is greater than local state-owned enterprises (LSOEs). Meanwhile, the empirical results show that government attention on employment is reflected in five-year government plans, and employees’ educational backgrounds are positively associated with asymmetric cost behavior.
Originality/value
This study contributes to the economic theory of sticky costs, institutional theory and asymmetric cost behavior literature by providing evidence that shows how government intervention and employee educational background limit the flexibility of corporate cost adjustments. Additionally, this study provides guidance to policymakers by showing how government long-term plans affect firm-level resource adjustment decisions.
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The aim of this paper is to provide a narrative review of previous research on tourism demand modelling and forecasting and potential future developments.
Abstract
Purpose
The aim of this paper is to provide a narrative review of previous research on tourism demand modelling and forecasting and potential future developments.
Design/methodology/approach
A narrative approach is taken in this review of the current body of knowledge.
Findings
Significant methodological advancements in tourism demand modelling and forecasting over the past two decades are identified.
Originality/value
The distinct characteristics of the various methods applied in the field are summarised and a research agenda for future investigations is proposed.
目的
本文旨在对先前关于旅游需求建模和预测的研究进行叙述性回顾并对未来潜在发展进行展望。
设计/方法
本文采用叙述性回顾方法对当前知识体系进行了评论。
研究结果
本文确认了过去二十年旅游需求建模和预测方法论方面的重要进展。
独创性
本文总结了该领域应用的各种方法的独特特征, 并对未来研究提出了建议。
Objetivo
El objetivo de este documento es ofrecer una revisión narrativa de la investigación previa sobre modelización y previsión de la demanda turística y los posibles desarrollos futuros.
Diseño/metodología/enfoque
En esta revisión del marco actual de conocimientos sobre modelización y previsión de la demanda turística y los posibles desarrollos futuros,se adopta un enfoque narrativo.
Resultados
Se identifican avances metodológicos significativos en la modelización y previsión de la demanda turística en las dos últimas décadas.
Originalidad
Se resumen las características propias de los diversos métodos aplicados en este campo y se propone una agenda de investigación para futuros trabajos.
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Oliver Henk, Anatoli Bourmistrov and Daniela Argento
This paper explores how conflicting institutional logics shape the behaviors of macro- and micro-level actors in their use of a calculative practice. Thereby, this paper explains…
Abstract
Purpose
This paper explores how conflicting institutional logics shape the behaviors of macro- and micro-level actors in their use of a calculative practice. Thereby, this paper explains how quantification can undermine the intended purpose of a governance system based on a single number.
Design/methodology/approach
The study draws upon the literature on calculative practices and institutional logics to present the case of how a single number—specifically the conversion factor for Atlantic Cod, established by macro-level actors for the purposes of governance within the Norwegian fishing industry—is interpreted and used by micro-level actors in the industry. The study is based on documents, field observations and interviews with fishers, landing facilities, and control authorities.
Findings
The use of the conversion factor, while intended to protect fish stock and govern industry actions, does not always align with the institutional logics of micro-level actors. Especially during the winter season, these actors may seek to serve their interests, leading to potential system gaming. The reliance on a single number that overlooks seasonal nuances can motivate unintended behaviors, undermining the governance system’s intentions.
Originality/value
Integrating the literature on calculative practices with an institutional logics perspective, this study offers novel insights into the challenges of using quantification for the governance of complex industries. In particular, the paper reveals that when the logics of macro- and micro-level actors conflict in a single-number governance system, unintended outcomes arise due to a domination of the macro-level logics.
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This study aims to explore the smallholder farmers’ perceptions of climate change and its adaptation options (changing crop variety; improved crop and livestock; soil and water…
Abstract
Purpose
This study aims to explore the smallholder farmers’ perceptions of climate change and its adaptation options (changing crop variety; improved crop and livestock; soil and water conservation [SWC]; and irrigation practices) and drought indices in the Dire Dawa Administration Zone, Eastern Ethiopia.
Design/methodology/approach
A cross-sectional household survey was used. A structured interview schedule for respondent households for key informants and focus group discussions were used. This study used both descriptive statistics and an econometric model. The model was used to compute the determinants of climate adaptation options in the study area. Drought characterization was carried out by DrinC software.
Findings
The results revealed households adapted to selected adaptation options. The model results confirmed that education level, farm size, tropical livestock units (TLUs) and access to agricultural extension services have positive and significant impacts on changing crop variety by 0.0014%, 0.045%, 0.032% and 0.035%, respectively. The likelihood of farmers’ decisions to use adaptation strategies (family size, TLU, agricultural extension service and distance from the market) has positive and significant impacts on SWC. The reconnaissance drought index (RDI6) of ONDJFM and AMJJAS showed extreme and severe drought index values of −2.88 and −1.96, respectively.
Originality/value
This study used a locally adopted climate change adaptation intervention for smallholder farmers, revealing the importance of drought characterization indices both seasonally and annually.
Details
Keywords
The COVID-19 pandemic, a sudden and disruptive external shock to the USA and global economy, profoundly affected various operations. Thus, it becomes imperative to investigate the…
Abstract
Purpose
The COVID-19 pandemic, a sudden and disruptive external shock to the USA and global economy, profoundly affected various operations. Thus, it becomes imperative to investigate the repercussions of this pandemic on the US housing market. This study investigates the impact of the COVID-19 pandemic on a crucial facet of the real estate market: the Time on the Market (TOM). Therefore, this study aims to ascertain the net effect of this unprecedented event after controlling for economic influences and real estate market variations.
Design/methodology/approach
Monthly time series data were collected for the period of January 2010 through December 2022 for statistical analysis. Given the temporal nature of the data, we conducted the Durbin–Watson test on the OLS residuals to ascertain the presence of autocorrelation. Subsequently, we used the generalized regression model to mitigate any identified issues of autocorrelation. However, it is important to note that the response variable derived from count data (specifically, the median number of months), which may not conform to the normality assumption associated with standard regression models. To better accommodate this, we opted to use Poisson regression as an alternative approach. Additionally, recognizing the possibility of overdispersion in the count data, we also explored the application of the negative binomial model as a means to address this concern, if present.
Findings
This study’s findings offer an insightful perspective on the housing market’s resilience in the face of COVID-19 external shock, aligning with previous research outcomes. Although TOM showed a decrease of around 10 days with standard regression and 27% with Poisson regression during the COVID-19 pandemic, it is noteworthy that this reduction lacked statistical significance in both models. As such, the impact of COVID-19 on TOM, and consequently on the housing market, appears less dramatic than initially anticipated.
Originality/value
This research deepens our understanding of the complex lead–lag relationships between key factors, ultimately facilitating an early indication of housing price movements. It extends the existing literature by scrutinizing the impact of the COVID-19 pandemic on the TOM. From a pragmatic viewpoint, this research carries valuable implications for real estate professionals and policymakers. It equips them with the tools to assess the prevailing conditions of the real estate market and to prepare for potential shifts in market dynamics. Specifically, both investors and policymakers are urged to remain vigilant in monitoring changes in the inventory of houses for sale. This vigilant approach can serve as an early warning system for upcoming market changes, helping stakeholders make well-informed decisions.
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Tingwei Wang, Hui Zhang and Ya Wang
The purpose of this paper is to have a deeper understanding of the nonlinear relationship between the impact of climate change on tourism development. Current studies on the…
Abstract
Purpose
The purpose of this paper is to have a deeper understanding of the nonlinear relationship between the impact of climate change on tourism development. Current studies on the effects of climate change on tourism development primarily rely on linear correlation assumptions.
Design/methodology/approach
Based on the New Institutional Economics theory, the institutional setting inherently motivates and ensures the growth of the tourism industry. For a precise evaluation of the nonlinear consequences of climate change on tourism, this paper concentrates on Chinese cities between 2011 and 2021, methodically analyzing the influence of climate change on tourism.
Findings
The study findings suggest that there is an “inverse U”-shaped nonlinear relationship between climate change and tourism development, initially strengthening and subsequently weakening. Based on these findings, the research further delves into how institutional contexts shape the nonlinear association between climate change and tourism growth. It was found that in a higher institutional backdrop, the “inverse U” curve tends to flatten and surpass the curve adjusted for a lesser institutional context. Upon deeper mechanism analysis, it was observed that cities with more advanced marketization, improved industrial restructuring and enhanced educational growth exhibit a more evident “inverse U”-shaped nonlinear connection between climate change and tourism evolution.
Originality/value
First, previous studies on climate change and tourism development largely rely on questionnaire data (Hu et al., 2022). In contrast to these studies, this paper uses dynamic panel data, which to some extent overcomes the subjectivity and difficulty of causality identification in questionnaire data, making our research conclusions more accurate and reliable. Second, this study breaks through the linear relationship hypothesis of previous literature regarding climate change and tourism development. By evaluating the nonlinear relationship of climate change to tourism development from the institutional pressure perspective, it more intricately delineates their interplay mechanism, expanding and supplementing the research literature on the relationship mechanism between climate change and tourism development. Thirdly, the conclusions of this study are beneficial for policymakers to better understand and assess the scope of climate change impacts. It also aids relevant departments in clarifying the direction of institutional environment optimization to elevate the level of tourism development when faced with adverse impacts brought about by climate change.
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