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Article
Publication date: 29 October 2020

Wei-Jie Liao, Nai-Ling Kuo and Shih-Hsien Chuang

The authors examine the Taiwanese government's budgetary responses to COVID-19, with a focus on the special budgets created for containing the virus, undertaking bailouts…

Abstract

Purpose

The authors examine the Taiwanese government's budgetary responses to COVID-19, with a focus on the special budgets created for containing the virus, undertaking bailouts and providing economic stimulus. The authors assess the short-term and long-term fiscal implications of the budgetary measures and discuss how Taiwan's experiences could provide lessons for other countries for future emergencies.

Design/methodology/approach

The authors collect data from Taiwan's official documents and news reports and compare the special budgets proposed by the Taiwanese government during the Great Recession and the COVID-19 pandemic. The authors discuss lessons learned from the 2008–09 special budget and possible concerns of the 2020 special budgets. In the conclusions, the authors discuss potential long-term implications for Taiwan's budgetary system as well as possible lessons for other countries based on Taiwan's experiences

Findings

The authors found that the 2008–09 special budgets focused only on economic stimulus, whereas the 2020 special budgets covered COVID-19 treatments, bailouts and economic stimulus. In 2020, the Taiwanese government devised targeted bailout plans for industries and individuals most affected by the pandemic and created the Triple Stimulus Vouchers to boost the economy. Since the special budgets were largely funded through borrowing, the authors pointed out concerns for fiscal sustainability and intergenerational equity.

Originality/value

COVID-19 has changed how the world functions massively. This work adds to the literature on COVID-19 by providing Taiwan's budgetary responses to the pandemic. This work also identifies ways for Taiwan to improve the existing budgetary system and discusses lessons for other countries.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 33 no. 1
Type: Research Article
ISSN: 1096-3367

Keywords

Content available
Article
Publication date: 13 December 2019

Baoping Ren and Wei Jie

Constant or decreasing returns and increasing returns to scale are two kinds of mechanism in economic growth. The goal of supply-side structural reform is to promote the…

Abstract

Purpose

Constant or decreasing returns and increasing returns to scale are two kinds of mechanism in economic growth. The goal of supply-side structural reform is to promote the establishment of the mechanism with increasing returns to scale. The paper aims to discuss this issue.

Design/methodology/approach

This paper argues that the overall economic structure of the developing economy has been divided into the sector of constant or decreasing returns to scale and the sector of increasing returns to scale due to the dual economic structure. Among them, the supply-side structural reform is mainly to reduce the sector of decreasing returns to scale and increase the sector of increasing returns to scale. Based on the hypothesis of such two-sector economic structure in the supply side of developing economies and on the industrial data, this paper empirically tests the returns to scale of China’s supply structure. The result suggests that so far the sector of constant or decreasing returns to scale dominates the supply structure of China’s economic growth, which results in the state of decreasing returns to scale in China’s overall economy.

Findings

Therefore, to realize the long-term sustained growth and transformation of the development pattern of China’s economy, the authors must carry out the supply-side structural reform, vigorously develop the modern industrial sectors characterized by modern knowledge and technology, and promote the development of an innovation-driven economy.

Originality/value

Besides, the authors must accelerate the transformation from traditional industrial sectors to modern industrial sectors, actively promote China’s industrial structure toward rationalization and high gradation, as well as build a modern industrial system so as to facilitate the formation of the mechanism of increasing returns to scale and accelerate the transformation of the driving force of China’s economic growth.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
ISSN: 2516-1652

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Article
Publication date: 26 February 2020

Ling Zhang, Jie Wei and Robert J. Boncella

Microblogging is an important channel used to disseminate online public opinion during an emergency. Analyzing the features and evolution mechanism of online public…

Abstract

Purpose

Microblogging is an important channel used to disseminate online public opinion during an emergency. Analyzing the features and evolution mechanism of online public opinion during an emergency plays a significant role in crisis management.

Design/methodology/approach

This paper uses the event of Hurricane Irma and combines it with the life cycle of online public opinion evolution to understand the effect of different types of emotional (joy, anger, sadness, fear, disgust) microblogs (tweets) on information dissemination. The research was performed in the context of Hurricane Irma by using tweets associated with that event.

Findings

This paper demonstrates that negative emotional information has a greater communication effect, and further, the target audience that receives more exposure to negative emotional microblogs has a stronger tendency to retweet. Meanwhile, emotions expressed in tweets and the life cycle of public opinion evolution exert interactive effects on the retweeting behavior of the target audience.

Research limitations/implications

For future research, a professional dictionary and the context should be taken into consideration to make the modeling in the text more normative and analyzable.

Practical implications

This paper aims to reveal how the emotions of a tweet affect its virality in terms of diffusion volume in the context of an emergency event.

Social implications

The conclusion made in this paper can shed light on the real-time regulation and public opinion transmission, as well as for efficient intelligence service and emergency management.

Originality/value

In this study, Hurricane Irma is taken as an example to explore the factors influencing the information dissemination during emergencies on the social media environment. The relationship between the sentiment of a tweet and the life cycle of public opinion and its effect on tweet volume were investigated.

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Article
Publication date: 22 August 2020

Craig S. Maher, Jae Won Oh and Wei-Jie Liao

Identifying tools for predicting fiscally distressed local governments has received heightened attention following the Great Recession of 2007–2009. Despite the recent…

Abstract

Purpose

Identifying tools for predicting fiscally distressed local governments has received heightened attention following the Great Recession of 2007–2009. Despite the recent expansion of research, measuring fiscal distress is challenging because of the operational complexity associated with the term. Furthermore, many local governments are too small to produce a Comprehensive Annual Financial Report (CAFR), upon which many empirical studies of fiscal condition or fiscal distress are based. This study designs a parsimonious tool for identifying fiscally distressed entities based on existing literature. The authors examine Nebraska's 93 counties over a nine-year period (from 2010 to 2018). In order to ensure the validity of our tool, we replicate two well-known empirical approaches of assessing local fiscal condition and compare the results with ours. The authors find nearly all counties in Nebraska to be free from fiscal distress in the past decade. However, since most counties in Nebraska have small populations and are far from urban centers, they may still be vulnerable to future fiscal shocks and may need to closely monitor their fiscal condition.

Design/methodology/approach

The authors offer a parsimonious method for assessing the existence of fiscally distressed counties. They select predictors of fiscal distress based on two criteria. First, for the purpose of this study, the authors use financial information that is uniform, easily accessible and does not rely on CAFRs. In order to make their model parsimonious and replicable, the authors only consider factors that have the most decisive effects on local fiscal conditions. Second, the authors draw on indicators that have been consistently supported by previous studies (e.g., Kloha et al., 2005; Gorina et al., 2018). The authors test the validity of this approach using correlation analysis and regression modeling, similar to Wang et al. (2007).

Findings

The authors’ fiscal distress measure shows encouraging signs. Results show that all but Brown's model are highly correlated. The decile and standard deviation models have the strongest correlation (r = 0.955, p < 0.01). These two models are also significantly associated with Kloha et al.'s model. Their correlation coefficients are 0.812 and 0.830, respectively. Consistent with Wang et al. (2007), the authors find modest associations between our fiscal measures and socioeconomic measures.

Research limitations/implications

Limitations include questions of generalizability – we are only studying Nebraska counties. The extent to which the findings are generalizable to counties in other states remains to be seen. We advise readers and policymakers to bear in mind that at this point, there is no perfect way to measure local fiscal condition or fiscal distress. Specifically, with our model, the foremost advantages of parsimony are data accessibility and replicability. However, unlike other existing tools that consider dozens of indicators, our tool bears the cost of not employing a more comprehensive perspective that may be required to capture a full picture of local fiscal condition.

Practical implications

The purpose of this research was to construct and present a parsimonious way of identifying local fiscal distress that is easily replicated and applied in practice. The challenges were operational – both in terms of definition and measurement. Fiscal distress is a nebulous concept that can vary based on the researcher's intent. Our chosen set of indicators have two characteristics: accessibility of financial information and consistency with past studies. Thus, we assess two of the four dimensions of solvency: budgetary solvency and long-run solvency. The authors suggest that this effort should not be used as a tool by state lawmakers to accuse and judge local governments. Instead, it should be used to assist local governments as Iowa and Colorado do. The findings could be the beginning of a conversation between the state and local governments to determine the best course(s) of action. As previously mentioned, there are many causes of fiscal distress and poor decision-making is not very common. Looking into the future, the authors expect more local governments to become fiscally distressed and the primary cause would be economic/demographic change. Since many local governments in Nebraska have very small populations and are far from the urban centers of Omaha and Lincoln, they might be vulnerable to future fiscal shocks. Thus, state lawmakers need to begin considering strategies to deal with local fiscal distress. The authors do have limitations in measurement. However, if used appropriately, this research can add value to the discussion of managing local government fiscal distress in Nebraska and other similar states.

Social implications

While the analysis finds little fiscal distress currently in Nebraska, there is concern that with population migration to the urban areas and the “graying” of the state, local governments in rural areas (the vast majority in Nebraska) could face more serious issues in future years. A recent study showed that local fiscal condition is negatively associated with the distance from the municipality to the urban centers of Omaha and Lincoln (Maher et al., 2019). These spatial effects could be further exacerbated in a state that ranks near the bottom in financial support of local governments and policy makers are committed to “controlling” property taxes.

Originality/value

This study, while building on prior work, is unique in that it focuses on counties as opposed to municipalities, which are the most common units of analysis. The authors also offer a model for assessing fiscal distress in a state that currently does not have state-level systems to monitor local finances. Finally, rather than relying on audited annual financial reports which would disqualify many smaller local governments, the authors offer a parsimonious tool that is easily replicated and can be used by all local governments that submit uniform financial reports to their states.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 32 no. 4
Type: Research Article
ISSN: 1096-3367

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Article
Publication date: 23 August 2015

Fenfen Zhang, Litao Wang, Jing Yang, Mingzhang Chen, Zhe Wei and Jie Su

In this study, the Models-3/Community Multiscale Air Quality Model (CMAQ) coupled with the Mesoscale Modeling System Generation 5 (MM5) was employed to simulate the air…

Abstract

In this study, the Models-3/Community Multiscale Air Quality Model (CMAQ) coupled with the Mesoscale Modeling System Generation 5 (MM5) was employed to simulate the air pollution episodes over East Asia, northern China Plain (NCP), and southern Hebei (SHB), at a grid resolution of 36, 12, and 4 km, respectively in Oct. 2012. The PM10 concentrations over SHB at 12-km are overpredicted with NMBs of 34.6% to 45.7% and also overestimated with that of 72.1% to 97.5% at 4-km which applied such a fine grid resolution over the SHB for the first time. It indicated that the simulation at 12-km performs better than the 4-km which may be related to the spatial allocation of the emissions, the lack of dust emissions and the limitations of model treatments. Five heavy episodes show the characteristics of sawtooth-shaped cycles over the NCP in fall (i.e. the maximum of PM10 was up to 885.1 µg m−3 and PM2.5 was up to 438.4 µg m−3 in Handan city) which resulting in the deterioration of visibility and periodically haze days. The concentrations of OC, EC, SO42−, NO3 and NH4+ were significantly higher in heavy episodes than non-heavy pollution episodes. In comparison with other cities ([NO3]/[SO42−] > 1) at 12-km, the monthly-mean mass ratio of [NO3]/[SO42−] at Taiyuan (0.17−0.73), Shijiazhuang (0.28−2.34) was 0.43, 0.84 respectively, which means the stationary sources emissions were more important than the vehicle emission in the source areas. The influence of the regional transportation for pollutants compared with local emission was also an important factor for heavy pollution episodes. The regional joint framework should be established along with controlling the local emission over the SHB in China to improve the air quality.

Details

World Journal of Engineering, vol. 12 no. 3
Type: Research Article
ISSN: 1708-5284

Keywords

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Book part
Publication date: 12 July 2021

Ryan Cheah Wei Jie, Cha Yao Tan, Fang Yenn Teo, Boon Hoe Goh and Yau Seng Mah

Big data have rapidly developed as a viable solution to many problems faced in engineering industries. Specifically, in the industry of water resource engineering, where…

Abstract

Big data have rapidly developed as a viable solution to many problems faced in engineering industries. Specifically, in the industry of water resource engineering, where there is a tremendous amount of data, various big data techniques could be applied to achieve innovative and efficient solutions for the industry. This study reviewed the proposal of big data as potential approaches to solve various difficulties encountered in managing water resources and related applications in Malaysia. The advantages and disadvantages of big data applications have also been discussed along with a brief literature review and some examples of case studies.

Details

Water Management and Sustainability in Asia
Type: Book
ISBN: 978-1-80071-114-3

Keywords

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Article
Publication date: 15 June 2012

Kevin W. Cruthirds, Valerie L. Wang, Yong J. Wang and Jie Wei

The purpose of this study was to conduct a content analysis of humor styles used in US and Mexican television advertising.

Abstract

Purpose

The purpose of this study was to conduct a content analysis of humor styles used in US and Mexican television advertising.

Design/methodology/approach

A total of 97 television commercials broadcasted by major US and Mexican national television networks were classified under the four humor styles described by Martin et al.

Findings

Humor styles used in television advertising significantly differ between the two countries. US commercials use more affiliative, aggressive, and self‐defeating humor than do Mexican advertisements, while self‐enhancing humor is the predominant humor style of Mexican commercials and is used more frequently in Mexico when compared to the USA.

Practical implications

The findings reveal the frequency and types of humorous television commercials used in the USA and Mexico.

Originality/value

The study suggests that cultural differences should be taken into consideration when humorous advertising is used across borders.

Details

Marketing Intelligence & Planning, vol. 30 no. 4
Type: Research Article
ISSN: 0263-4503

Keywords

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Article
Publication date: 25 May 2012

Yong Jian Wang, Monica D. Hernandez, Michael S. Minor and Jie Wei

The purpose of this study is to explore the role of various superstitious beliefs in consumers' information processing and evaluation of brand logos.

Abstract

Purpose

The purpose of this study is to explore the role of various superstitious beliefs in consumers' information processing and evaluation of brand logos.

Design/methodology/approach

When consumers encounter a brand logo without actually experiencing the company's offerings, superstition may be deployed to fill the void of the unknown to evaluate the brand logo and judge the benefits from the offerings represented by the brand. Multiple regression analysis was used to investigate the relationship between consumers' brand logo sensitivity and a number of antecedental superstition beliefs.

Findings

The results indicate that consumers' belief in fate has a negative effect on brand logo sensitivity, and consumers' belief in fortune‐tellers, belief in magic and fictional figures, belief in lucky charms, and belief in superstitious rituals have positive effects on brand logo sensitivity, respectively.

Research limitations/implications

From a consumer perspective, the authors' findings reveal that the more positive attitude consumers have towards a company's visual identity system, the more favorable brand image consumers have toward the company and its offerings.

Practical implications

Marketers should study and understand consumer superstition when attempting to build consumer‐friendly, culturally‐robust, and trouble‐free brands in the marketplace. Managerial implications and corporate branding strategies are suggested to avoid branding pitfalls and maximize brand equity in the consumer market.

Originality/value

The study offers a non‐traditional approach to explaining consumer‐based brand image and brand equity.

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Article
Publication date: 12 October 2012

Doina C. Chichernea, Anthony D. Holder and Jie (Diana) Wei

The purpose of this paper is to investigate the connection between the accrual quality and the growth/value characteristics (and their return premia) at firm level.

Abstract

Purpose

The purpose of this paper is to investigate the connection between the accrual quality and the growth/value characteristics (and their return premia) at firm level.

Design/methodology/approach

The paper employs a battery of univariate and multivariate cross‐sectional tests. Fama‐MacBeth regressions with main effects and interaction effects are used to identify the relation between accrual quality, book‐to‐market and returns. The analysis is conducted on the overall sample, as well as after conditioning on up and down markets.

Findings

Value (growth) stocks are more likely to be associated with high (low) accrual quality. Value stocks earn higher returns mainly in down markets, while poor accrual quality firms have significantly higher returns during up markets, but significantly lower returns during down markets. There is a significant interaction effect between accrual quality and the value premium, which only exhibits in the down markets (i.e. stocks with poor accrual quality earn a higher value premium in down markets than stocks with good accrual quality).

Originality/value

Results in this paper help disentangle between various explanations proposed for the accrual quality premium and the value premium. These findings are consistent with the idea that the same underlying risk factor generating the value premium also generates the cross‐sectional variation in accrual quality responsible for the accrual quality premium. From the corporate managers' perspective, the results imply that value firms can mitigate their higher costs of capital by providing high quality of accounting information. From an analyst's perspective, the study suggests that considering both accrual quality and growth characteristics can help make better portfolio allocation decisions than when these are considered separately.

Details

Managerial Finance, vol. 38 no. 12
Type: Research Article
ISSN: 0307-4358

Keywords

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Book part
Publication date: 12 July 2021

Abstract

Details

Water Management and Sustainability in Asia
Type: Book
ISBN: 978-1-80071-114-3

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