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Article
Publication date: 9 September 2011

Yang Fan and Teng Jianzhou

This paper aims to study the monetary transmission mechanism of China from January 1996 to December 2009 under endogenous structural breaks.

Abstract

Purpose

This paper aims to study the monetary transmission mechanism of China from January 1996 to December 2009 under endogenous structural breaks.

Design/methodology/approach

The study constructs a benchmark VAR model and then adds the proxy variables for four channels of monetary policy transmission as endogenous or exogenous variables in the model to study the transmission mechanism in China. Considering a number of reforms carried out in the economic and financial field in the past two decades and the possibility of structural changes in the monetary transmission mechanism, the methodology proposed by Qu and Perron is employed to allow for endogenous structural changes in the model.

Findings

By conducting a comparative analysis, conclusions can be drawn from this paper that bank lending is always the dominating channel for monetary policy to influence economy in China and the roles of the interest rate channel and the exchange rate channel have been improved in recent years. However, the role of the asset price channel in monetary policy transmission has weakened since late 2001.

Originality/value

This paper combines the quasi‐maximum likelihood procedure proposed by Qu and Perron in 2007 with a benchmark VAR model, thus providing a new approach to study monetary transmission mechanism and the conclusions can be more sensible.

Details

China Finance Review International, vol. 1 no. 4
Type: Research Article
ISSN: 2044-1398

Keywords

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Article
Publication date: 28 October 2014

Quanda Zhang

The purpose of this paper is to clarify the relationship between income inequality and financial deepening. The majority of theoretical studies on the relationship between…

Abstract

Purpose

The purpose of this paper is to clarify the relationship between income inequality and financial deepening. The majority of theoretical studies on the relationship between them argue that financial deepening has a positive effect on the income inequality. This paper aims to study the case of China, and explores whether the effects of financial deepening on income inequality varies between urban residents and rural residents.

Design/methodology/approach

Using the grey incidence analysis, this paper first calculates the degree of grey incidence between dependent variables, i.e. per capita disposable income of urban residents, per capita net income of rural residents and overall Theil Inequality Index for China, and independent variables, depth of credit, depth of direct financing and depth of insurance. Next, multiple non-linear regression is introduced to build the model. With the method of unit root test and co-integration test, some equations are given to show the clear relationship among the variables.

Findings

The empirical results indicate that the development of credit market does not have a strong relationship both with the growth of income and income inequality. While the development of both the direct financing market and the insurance market is closely related to the growth of income and income inequality.

Originality/value

The results of this paper suggest that the protection of the rights and interests of medium-sized investors is the key for the capital market. Meanwhile, the insurance market should be encouraged to expand in both breadth and depth, which helps to take full advantage of its functions. As for the credit market, more resources should be allocated to those who need them most the small- and medium-sized enterprises, which will contribute to the growth of the income for the majority and narrowing the income gap.

Details

Grey Systems: Theory and Application, vol. 4 no. 3
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 31 March 2021

Li-Chun Hsu

This study developed a new interpretation of the attitude contagion theory, with the information adoption model (IAM) as the theoretical basis. A review of electronic…

Abstract

Purpose

This study developed a new interpretation of the attitude contagion theory, with the information adoption model (IAM) as the theoretical basis. A review of electronic word-of-mouth studies was conducted by using informational and individual determinants to develop an integrated empirical model that identified the antecedents and consequences of consumer attitude toward online reviews.

Design/methodology/approach

This study recruited 750 members of Facebook beauty fan pages in Taiwan and used the structural equation model to test research hypotheses.

Findings

Results revealed that perceived “ electronic word-of mouth (eWOM) credibility of online reviews” and “product involvement” could be used to explain the effects of attitude toward online reviews. Regarding the attitude contagion effect, the effect of “attitude toward online review” on both “attitude toward a product” and “attitude toward a brand” is stronger than that on “eWOM adoption.”

Originality/value

This paper provides valuable insights into the antecedents, consequences and mediating mechanisms that determine consumer attitude toward online reviews.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

Keywords

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Article
Publication date: 9 December 2019

Himanshu Sharma and Anu G. Aggarwal

The experiential nature of travel and tourism services has popularized the importance of electronic word-of-mouth (EWOM) among potential customers. EWOM has a significant…

Abstract

Purpose

The experiential nature of travel and tourism services has popularized the importance of electronic word-of-mouth (EWOM) among potential customers. EWOM has a significant influence on hotel booking intention of customers as they tend to trust EWOM more than the messages spread by marketers. Amid abundant reviews available online, it becomes difficult for travelers to identify the most significant ones. This questions the credibility of reviewers as various online businesses allow reviewers to post their feedback using nickname or email address rather than using real name, photo or other personal information. Therefore, this study aims to determine the factors leading to reviewer credibility.

Design/methodology/approach

The paper proposes an econometric model to determine the variables that affect the reviewer’s credibility in the hospitality and tourism sector. The proposed model uses quantifiable variables of reviewers and reviews to estimate reviewer credibility, defined in terms of proportion of number of helpful votes received by a reviewer to the number of total reviews written by him. This covers both aspects of source credibility i.e. trustworthiness and expertness. The authors have used the data set of TripAdvisor.com to validate the models.

Findings

Regression analysis significantly validated the econometric models proposed here. To check the predictive efficiency of the models, predictive modeling using five commonly used classifiers such as random forest (RF), linear discriminant analysis, k-nearest neighbor, decision tree and support vector machine is performed. RF gave the best accuracy for the overall model.

Practical implications

The findings of this research paper suggest various implications for hoteliers and managers to help retain credible reviewers in the online travel community. This will help them to achieve long term relationships with the clients and increase their trust in the brand.

Originality/value

To the best of authors’ knowledge, this study performs an econometric modeling approach to find determinants of reviewer credibility, not conducted in previous studies. Moreover, the study contracts from earlier works by considering it to be an endogenous variable, rather than an exogenous one.

Details

Kybernetes, vol. 49 no. 10
Type: Research Article
ISSN: 0368-492X

Keywords

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Article
Publication date: 18 May 2020

Wen-Hai Chih, Li-Chun Hsu and Jaime Ortiz

This study explores the effects of interpersonal determinants (tie strength and homophily) and informational determinants (source trustworthiness and customer endorsement…

Abstract

Purpose

This study explores the effects of interpersonal determinants (tie strength and homophily) and informational determinants (source trustworthiness and customer endorsement) on perceived positive electronic word-of-mouth (eWOM) review credibility (PPERC), which subsequently affects attitude toward the product (ATP), attitude toward the Fan Page (ATFP), and eWOM review adoption (ERA) based on the cognition-affection-behavior (CAB) model.

Design/methodology/approach

The research sample consists of 402 subjects who used the Fan Page of Fashion Guide for more than one year. This research adopts a Structural Equation Modeling (SEM) to test the proposed model, which shows a good fit.

Findings

The results indicate that tie strength, homophily, source trustworthiness and customer endorsement each have a significant and positive effect on PPERC, respectively. In addition, homophily has a significant and positive effect on the strength and source trustworthiness. Furthermore, the results reveal that PPERC has a significant and positive effect on ATP, ATFP and ERA.

Originality/value

This study contributes to the literature by integrating multi perspectives and factors from informational determinants and interpersonal determinants. In addition, this study proposes that these determinants affect ERA via PPERC and dual attitudes (ATP and ATFP).

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