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Book part
Publication date: 28 June 2016

Douglas B. Downey

Most social scientists believe that schools serving the disadvantaged provide considerably poorer learning environments than schools serving advantaged students. As a result…

Abstract

Most social scientists believe that schools serving the disadvantaged provide considerably poorer learning environments than schools serving advantaged students. As a result, schools are thought to be an important source of social problems like inequality. However, an important subset of research employing seasonal comparisons (observing how achievement gaps change when school is in versus out) disputes this position. These studies note that socioeconomic-based gaps in skills grow faster when school is out versus in, suggesting that achievement gaps would be larger if not for schools. I discuss the advantages of seasonal comparison studies and how they provide a more contextual perspective for understanding several important questions, such as: (1) What is the distribution of school quality? (2) How does inequality outside of school condition the way schools matter? and (3) Which policies, school or non-school, most effectively reduce achievement gaps? I conclude that our understanding of how schools influence inequality would be improved by employing the more contextual perspective offered by seasonal comparisons. Seasonal comparison studies have not played a meaningful role in public discussions and so the public lacks a proper understanding of the extent to which social context shapes achievement gaps. This is unfortunate because we continue to try and address achievement gaps primarily through school reform when the real source of the problem lies in the inequalities outside of schools.

Details

Family Environments, School Resources, and Educational Outcomes
Type: Book
ISBN: 978-1-78441-627-0

Keywords

Article
Publication date: 1 March 1990

Jeffrey E. Jarrett

In this study, the relative accuracy of four well known methods for forecasting are compared The methods are applied to the time series of earnings per share for a random sample…

Abstract

In this study, the relative accuracy of four well known methods for forecasting are compared The methods are applied to the time series of earnings per share for a random sample of United States corporations over a lengthy period of time. All the time series exhibit both period‐to‐period movements and seasonal fluctuation. The four models are, (1) Holt‐Winters multiplicative exponential smoothing model, (2) univariate Box‐Jenkins model, (3) linear autoregression of data seasonally adjusted by the Census II–XII method, and (4) linear autoregression of the data seasonally adjusted by the X11‐ARIMA method. The study of financial data of this type is important because (1) these data exhibit time series properties of trend, seasonality, and cycle, (2) earnings per share forecasts are important for purposes of financial planning and investment; and (3) previous studies of this nature were not as exhaustive in terms of the statistical analysis of the results

Details

Managerial Finance, vol. 16 no. 3
Type: Research Article
ISSN: 0307-4358

Article
Publication date: 16 August 2022

Awel Haji Ibrahim, Dagnachew Daniel Molla and Tarun Kumar Lohani

The purpose of this study is to address a highly heterogeneous rift margin environment and exhibit considerable spatiotemporal hydro-climatic variations. In spite of limited…

Abstract

Purpose

The purpose of this study is to address a highly heterogeneous rift margin environment and exhibit considerable spatiotemporal hydro-climatic variations. In spite of limited, random and inaccurate data retrieved from rainfall gauging stations, the recent advancement of satellite rainfall estimate (SRE) has provided promising alternatives over such remote areas. The aim of this research is to take advantage of the technologies through performance evaluation of the SREs against ground-based-gauge rainfall data sets by incorporating its applicability in calibrating hydrological models.

Design/methodology/approach

Selected multi satellite-based rainfall estimates were primarily compared statistically with rain gauge observations using a point-to-pixel approach at different time scales (daily and seasonal). The continuous and categorical indices are used to evaluate the performance of SRE. The simple scaling time-variant bias correction method was further applied to remove the systematic error in satellite rainfall estimates before being used as input for a semi-distributed hydrologic engineering center's hydraulic modeling system (HEC-HMS). Runoff calibration and validation were conducted for consecutive periods ranging from 1999–2010 to 2011–2015, respectively.

Findings

The spatial patterns retrieved from climate hazards group infrared precipitation with stations (CHIRPS), multi-source weighted-ensemble precipitation (MSWEP) and tropical rainfall measuring mission (TRMM) rainfall estimates are more or less comparably underestimate the ground-based gauge observation at daily and seasonal scales. In comparison to the others, MSWEP has the best probability of detection followed by TRMM at all observation stations whereas CHIRPS performs the least in the study area. Accordingly, the relative calibration performance of the hydrological model (HEC-HMS) using ground-based gauge observation (Nash and Sutcliffe efficiency criteria [NSE] = 0.71; R2 = 0.72) is better as compared to MSWEP (NSE = 0.69; R2 = 0.7), TRMM (NSE = 0.67, R2 = 0.68) and CHIRPS (NSE = 0.58 and R2 = 0.62).

Practical implications

Calibration of hydrological model using the satellite rainfall estimate products have promising results. The results also suggest that products can be a potential alternative source of data sparse complex rift margin having heterogeneous characteristics for various water resource related applications in the study area.

Originality/value

This research is an original work that focuses on all three satellite rainfall estimates forced simulations displaying substantially improved performance after bias correction and recalibration.

Details

World Journal of Engineering, vol. 21 no. 1
Type: Research Article
ISSN: 1708-5284

Keywords

Book part
Publication date: 6 September 2019

Vivian M. Evangelista and Rommel G. Regis

Machine learning methods have recently gained attention in business applications. We will explore the suitability of machine learning methods, particularly support vector…

Abstract

Machine learning methods have recently gained attention in business applications. We will explore the suitability of machine learning methods, particularly support vector regression (SVR) and radial basis function (RBF) approximation, in forecasting company sales. We compare the one-step-ahead forecast accuracy of these machine learning methods with traditional statistical forecasting techniques such as moving average (MA), exponential smoothing, and linear and quadratic trend regression on quarterly sales data of 43 Fortune 500 companies. Moreover, we implement an additive seasonal adjustment procedure on the quarterly sales data of 28 of the Fortune 500 companies whose time series exhibited seasonality, referred to as the seasonal group. Furthermore, we prove a mathematical property of this seasonal adjustment procedure that is useful in interpreting the resulting time series model. Our results show that the Gaussian form of a moving RBF model, with or without seasonal adjustment, is a promising method for forecasting company sales. In particular, the moving RBF-Gaussian model with seasonal adjustment yields generally better mean absolute percentage error (MAPE) values than the other methods on the sales data of 28 companies in the seasonal group. In addition, it is competitive with single exponential smoothing and better than the other methods on the sales data of the other 15 companies in the non-seasonal group.

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-78754-290-7

Keywords

Book part
Publication date: 12 November 2014

John F. Kros, W. Jason Rowe and Evelyn C. Brown

Demand seasonality in the U.S. Imported Beer industry is common. The financial cycles of the past decade brought some extreme fluctuations to industry demand, which was trending…

Abstract

Demand seasonality in the U.S. Imported Beer industry is common. The financial cycles of the past decade brought some extreme fluctuations to industry demand, which was trending upward. This research extends previous work in this area by comparing seasonal forecasting models for two time periods: 1999–2007 and 1999–2012. The previous study (Kros & Keller, 2010) examined the 1999–2007 time frame while this study extends their model using the new data. Models are developed within Excel and include a simple yearly model, a semi-annual model, a quarterly model, and a monthly model. The results of the models are compared and a discussion of each model’s efficacy is provided. While, the models did do a good job forecasting U.S. Import Beer sales from 1999 to 2007 the economic downturn starting in 2007 was deleterious to some models continued efficacy. When the data from the downturn is accounted for it is concluded that the seasonal models presented are doing an overall good job of forecasting U.S. Import Beer Sales and assisting managers in shorter time frame forecasting.

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-78441-209-8

Keywords

Article
Publication date: 5 July 2022

Xianting Yao and Shuhua Mao

Given the effects of natural and social factors, data on both the supply and demand sides of electricity will produce obvious seasonal fluctuations. The purpose of this article is…

Abstract

Purpose

Given the effects of natural and social factors, data on both the supply and demand sides of electricity will produce obvious seasonal fluctuations. The purpose of this article is to propose a new dynamic seasonal grey model based on PSO-SVR to forecast the production and consumption of electric energy.

Design/methodology/approach

In the model design, firstly, the parameters of the SVR are initially optimized by the PSO algorithm for the estimation of the dynamic seasonal operator. Then, the seasonal fluctuations in the electricity demand data are eliminated using the dynamic seasonal operator. After that, the time series after eliminating of the seasonal fluctuations are used as the training set of the DSGM(1, 1) model, and the corresponding fitted, and predicted values are calculated. Finally, the seasonal reduction is performed to obtain the final prediction results.

Findings

This study found that the electricity supply and demand data have obvious seasonal and nonlinear characteristics. The dynamic seasonal grey model based on PSO-SVR performs significantly better than the comparative model for hourly and monthly data as well as for different time durations, indicating that the model is more accurate and robust in seasonal electricity forecasting.

Originality/value

Considering the seasonal and nonlinear fluctuation characteristics of electricity data. In this paper, a dynamic seasonal grey model based on PSO-SVR is established to predict the consumption and production of electric energy.

Details

Grey Systems: Theory and Application, vol. 13 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 7 March 2008

Tracey J. Dickson and Jeremy Huyton

The aim of this paper is to explore the extent to which employee welfare and human resource management impacts on customer service.

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Abstract

Purpose

The aim of this paper is to explore the extent to which employee welfare and human resource management impacts on customer service.

Design/methodology/approach

Data were collected from a number of operational staff of the Mount Kosciusko ski fields in Australia. The staff was selected at random and comprised both permanent local staff and seasonal staff, and completed a self‐administered questionnaire.

Findings

The results highlight the challenging living conditions of many seasonal workers on whom the industry depends and at the organizational level this research demonstrates a need for effective management skills and employment strategies that reflect the needs of seasonal staff. As was shown, there is a relationship between staff satisfaction, camaraderie and customer satisfaction.

Research limitations/implications

To better gauge the extent to which this research is applicable to all “front line” employees this study could be replicated in such locations as islands or isolated resorts with comparisons made with the same labor in established tourism resorts. The limitation of this study would be the specific mountain location in which it was conducted, and the size of the sample.

Practical implications

This study clearly identifies an area of human resource management which needs to be considered. When a region relies heavily on seasonal staff their welfare should be of prime consideration, because disgruntled staff translates directly into disgruntled customers.

Originality/value

This paper adds a clearer understanding to the body of knowledge surrounding staff retention in the service industries.

Details

International Journal of Contemporary Hospitality Management, vol. 20 no. 2
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 11 February 2021

Xiaoyue Zhu, Yaoguo Dang and Song Ding

Aiming to address the forecasting dilemma of seasonal air quality, the authors design the novel self-adaptive seasonal adjustment factor to extract the seasonal fluctuation…

Abstract

Purpose

Aiming to address the forecasting dilemma of seasonal air quality, the authors design the novel self-adaptive seasonal adjustment factor to extract the seasonal fluctuation information about the air quality index. Based on the novel self-adaptive seasonal adjustment factor, the novel seasonal grey forecasting models are established to predict the air quality in China.

Design/methodology/approach

This paper constructs a novel self-adaptive seasonal adjustment factor for quantifying the seasonal difference information of air quality. The novel self-adaptive seasonal adjustment factor reflects the periodic fluctuations of air quality. Therefore, it is employed to optimize the data generation of three conventional grey models, consisting of the GM(1,1) model, the discrete grey model and the fractional-order grey model. Then three novel self-adaptive seasonal grey forecasting models, including the self-adaptive seasonal GM(1,1) model (SAGM(1,1)), the self-adaptive seasonal discrete grey model (SADGM(1,1)) and the self-adaptive seasonal fractional-order grey model (SAFGM(1,1)), are put forward for prognosticating the air quality of all provinces in China .

Findings

The experiment results confirm that the novel self-adaptive seasonal adjustment factors promote the precision of the conventional grey models remarkably. Simultaneously, compared with three non-seasonal grey forecasting models and the SARIMA model, the performance of self-adaptive seasonal grey forecasting models is outstanding, which indicates that they capture the seasonal changes of air quality more efficiently.

Research limitations/implications

Since air quality is affected by various factors, subsequent research may consider including meteorological conditions, pollutant emissions and other factors to perfect the self-adaptive seasonal grey models.

Practical implications

Given the problematic air pollution situation in China, timely and accurate air quality forecasting technology is exceptionally crucial for mitigating their adverse effects on the environment and human health. The paper proposes three self-adaptive seasonal grey forecasting models to forecast the air quality index of all provinces in China, which improves the adaptability of conventional grey models and provides more efficient prediction tools for air quality.

Originality/value

The self-adaptive seasonal adjustment factors are constructed to characterize the seasonal fluctuations of air quality index. Three novel self-adaptive seasonal grey forecasting models are established for prognosticating the air quality of all provinces in China. The robustness of the proposed grey models is reinforced by integrating the seasonal irregularity. The proposed methods acquire better forecasting precisions compared with the non-seasonal grey models and the SARIMA model.

Details

Grey Systems: Theory and Application, vol. 11 no. 4
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 1 December 2004

Steven J. Cochran

This study investigates whether cyclical turning points in the U.S. and U.K. stock markets are unevenly distributed over the year, that is, whether they are more likely to occur…

Abstract

This study investigates whether cyclical turning points in the U.S. and U.K. stock markets are unevenly distributed over the year, that is, whether they are more likely to occur during certain months of the year. In examining this form of periodic seasonality, a Markov switching‐model is applied to U.S. and U.K. stock market chronologies of monthly peak and trough dates for the periods May 1835 through March 2000 and May 1836 through September 2000, respectively. In order to provide some evidence on robustness with respect to the sample data, results are obtained for the entire sample periods as well as for various sub‐. For both markets, the evidence indicates that while the probability of moving from an expansion to a contraction does not depend on the month of the year, the probability of switching from a contraction is greater for some months. Additionally, the durations of contractions, but not expansions, are dependent on the month of the year in which they begin.

Details

Managerial Finance, vol. 30 no. 12
Type: Research Article
ISSN: 0307-4358

Keywords

Open Access
Article
Publication date: 29 April 2019

Júlio Lobão

The literature provides extensive evidence for seasonality in stock market returns, but is almost non-existent concerning the potential seasonality in American depository receipts…

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Abstract

Purpose

The literature provides extensive evidence for seasonality in stock market returns, but is almost non-existent concerning the potential seasonality in American depository receipts (ADRs). To fill this gap, this paper aims to examine a number of seasonal effects in the market for ADRs.

Design/methodology/approach

The paper examines four ADRs for the period from April 1999 to March 2017 to look for signs of eight important seasonal anomalies. The authors follow the standard methodology of using dummy variables for the time period of interest to capture excess returns. For comparison, the same analysis on two US stock market indices is conducted.

Findings

The results show the presence of a highly significant pre-holiday effect in all return series, which does not seem to be justified by risk. Moreover, turn-of-the-month effects, monthly effects and day-of-the-week effects were detected in some of the ADRs. The seasonality patterns under analysis tended to be stronger in emerging market-based ADRs.

Research limitations/implications

Overall, the results show that significant seasonal patterns were present in the price dynamics of ADRs. Moreover, the findings lend support to the idea that emerging markets are less efficient than developed stock markets.

Originality/value

This is the most comprehensive study to date for indication of seasonal anomalies in the market for ADRs. The authors use an extensive sample that includes recent significant financial events such as the 2007/2008 financial crisis and consider ADRs with different characteristics, which allows to draw comparisons between the differential price dynamics arising in developed market-based ADRs and in the ADRs whose underlying securities are traded in emerging markets.

Details

Journal of Economics, Finance and Administrative Science, vol. 24 no. 48
Type: Research Article
ISSN: 2077-1886

Keywords

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