Search results

1 – 10 of 18
To view the access options for this content please click here
Article
Publication date: 15 November 2019

Wei Kang Loo

The purpose of this paper is to determine if artificial neural network (ANN) works better than linear regression in predicting Hong Kong real estate investment trusts 

Abstract

Purpose

The purpose of this paper is to determine if artificial neural network (ANN) works better than linear regression in predicting Hong Kong real estate investment trusts’ (REITs) excess return.

Design/methodology/approach

Both ANN and the regression were applied in this study to forecast the Hong Kong REITs’ (HK-REITs) return using the capital asset pricing model and Fama and French’s three-factor models. Each result was further split into annual time series as a measure to investigate the consistency of the performance across time.

Findings

ANN had produced a better forecasting results than the regression based on their trading performance. However, the forecasting performance varied across individual REITs and time periods.

Practical implications

ANN should be considered for use when one were to attempt forecasting the HK-REITs excess returns. However, the trading performance should be always compared with buy and hold strategy prior to make any investment decisions.

Originality/value

This paper tested the predicting power of ANN on the HK-REITs and the consistency of its predicting power.

Details

Journal of Property Investment & Finance, vol. 38 no. 4
Type: Research Article
ISSN: 1463-578X

Keywords

To view the access options for this content please click here
Article
Publication date: 24 April 2020

Wei Kang Loo

The purpose of this study is to evaluate the performance of the ensemble learning models, such as the Random Forest and Extreme Gradient Boosting models, in predicting the…

Abstract

Purpose

The purpose of this study is to evaluate the performance of the ensemble learning models, such as the Random Forest and Extreme Gradient Boosting models, in predicting the direction of the Japan real estate investment trusts (J-REITs) at different return horizons, based on input obtained from various technical indicators.

Design/methodology/approach

This study measures the predictability of J-REITs with technical indicators by using different horizons of REITs' return and machine learning models. The ensemble learning models includes Random Forest and Extreme Gradient Boosting models while the return horizons of REITs ranging from 1 to 300 days. The results were further split into individual years to check for the consistency of the performance across time.

Findings

The Extreme Gradient Boosting appears to be the best method in improving forecast accuracy but not the trading return. A wider return horizons platform seemed to deliver a relatively better performance in both forecast accuracy and trading return, when compared to the return horizon of one.

Practical implications

It is recommended that the Extreme Gradient Boosting and Random Forest model be considered by practitioners for back-testing trading model. In addition, selecting different return horizons so as to achieve a better performance in trading/investment should also be considered.

Originality/value

The predictability of J-REITs using technical indicators was compared among different returns horizons and the models (Extreme Gradient Boosting and Random Forest).

Details

Journal of Property Investment & Finance, vol. 38 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

To view the access options for this content please click here
Article
Publication date: 1 February 2016

Wei Kang Loo, Melati Ahmad Anuar and Suresh Ramakrishnan

– The purpose of this paper is to examine the long-run relationship and short-term linkage between the Asian REIT markets and their respective macroeconomic variables.

Downloads
1365

Abstract

Purpose

The purpose of this paper is to examine the long-run relationship and short-term linkage between the Asian REIT markets and their respective macroeconomic variables.

Design/methodology/approach

The data collected comprised total return REIT Index from Japan, Hong Kong, Singapore, Malaysia, Thailand, Taiwan and South Korea and their macroeconomic variables from the date of availability of the data until December 2014. The macroeconomic variables are either available in monthly or quarterly basis, they will be separately tested with REIT Index respectively to their frequency. All the variables are tested for its stationarity prior to the investigation of their long-run relationship and short-term linkage using Johansen cointegration test and Granger causality test.

Findings

The results showed that certain of the emerging REIT markets show a higher degree of integration with macroeconomic variables in the long run. This implies that the emerging REIT markets are more sensitive towards the change in macroeconomic environment in relative to the developed REIT markets.

Practical implications

The paper implied that the distinction of each market structure and their unique way of policy implementation. The findings can assists policy makers to understand about the significance of policy implementation on the Asian REIT markets prior to decision making and also for the portfolio management my asset managers.

Originality/value

The paper is one of the few attempts at assessing the long-term relationship and short term linkage between the Asian REIT markets and the macroeconomic variables.

Details

Journal of Property Investment & Finance, vol. 34 no. 1
Type: Research Article
ISSN: 1463-578X

Keywords

To view the access options for this content please click here
Book part
Publication date: 10 December 2015

Dekar Urumsah

The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally…

Abstract

The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally. This is especially relevant in the context of Indonesian Airline companies. Therefore, many airline customers in Indonesia are still in doubt about it, or even do not use it. To fill this gap, this study attempts to develop a model for e-services adoption and empirically examines the factors influencing the airlines customers in Indonesia in using e-services offered by the Indonesian airline companies. Taking six Indonesian airline companies as a case example, the study investigated the antecedents of e-services usage of Indonesian airlines. This study further examined the impacts of motivation on customers in using e-services in the Indonesian context. Another important aim of this study was to investigate how ages, experiences and geographical areas moderate effects of e-services usage.

The study adopts a positivist research paradigm with a two-phase sequential mixed method design involving qualitative and quantitative approaches. An initial research model was first developed based on an extensive literature review, by combining acceptance and use of information technology theories, expectancy theory and the inter-organizational system motivation models. A qualitative field study via semi-structured interviews was then conducted to explore the present state among 15 respondents. The results of the interviews were analysed using content analysis yielding the final model of e-services usage. Eighteen antecedent factors hypotheses and three moderating factors hypotheses and 52-item questionnaire were developed. A focus group discussion of five respondents and a pilot study of 59 respondents resulted in final version of the questionnaire.

In the second phase, the main survey was conducted nationally to collect the research data among Indonesian airline customers who had already used Indonesian airline e-services. A total of 819 valid questionnaires were obtained. The data was then analysed using a partial least square (PLS) based structural equation modelling (SEM) technique to produce the contributions of links in the e-services model (22% of all the variances in e-services usage, 37.8% in intention to use, 46.6% in motivation, 39.2% in outcome expectancy, and 37.7% in effort expectancy). Meanwhile, path coefficients and t-values demonstrated various different influences of antecedent factors towards e-services usage. Additionally, a multi-group analysis based on PLS is employed with mixed results. In the final findings, 14 hypotheses were supported and 7 hypotheses were not supported.

The major findings of this study have confirmed that motivation has the strongest contribution in e-services usage. In addition, motivation affects e-services usage both directly and indirectly through intention-to-use. This study provides contributions to the existing knowledge of e-services models, and practical applications of IT usage. Most importantly, an understanding of antecedents of e-services adoption will provide guidelines for stakeholders in developing better e-services and strategies in order to promote and encourage more customers to use e-services. Finally, the accomplishment of this study can be expanded through possible adaptations in other industries and other geographical contexts.

Details

E-services Adoption: Processes by Firms in Developing Nations
Type: Book
ISBN: 978-1-78560-709-7

Keywords

Content available
Article
Publication date: 16 January 2020

Yi-Ming Wei, Bi-Ying Yu, Hui Li, Jia-Ning Kang, Jin-Wei Wang and Wei-Ming Chen

Climate engineering management (CEM) as an emerging and cross-disciplinary subject gradually draws the attention to researchers. This paper aims to focus on economic and…

Abstract

Purpose

Climate engineering management (CEM) as an emerging and cross-disciplinary subject gradually draws the attention to researchers. This paper aims to focus on economic and social impacts on the technologies of climate engineering themselves. However, very few research concentrates on the management of climate engineering. Furthermore, scientific knowledge and a unified system of CEM are limited.

Design/methodology/approach

In this paper, the concept of CEM and its characteristics are proposed and elaborated. In addition, the framework of CEM is established based on management objectives, management processes and supporting theory and technology of management. Moreover, a multi-agent synergistic theory of CEM is put forward to guide efficient management of climate engineering, which is composed of time synergy, space synergy, and factor synergy. This theory is suitable for solving all problems encountered in the management of various climate engineering rather than a specific climate engineering. Specifically, the proposed CEM system aims to mitigate the impact of climate change via refining and summarizing the interrelationship of each component.

Findings

Overall, the six research frontiers and hotspots in the field of CEM are explored based on the current status of research.

Originality/value

In terms of the objectives listed above, this paper seeks to provide a reference for formulating the standards and norms in the management of various climate engineering, as well as contribute to policy implementation and efficient management.

Details

Journal of Modelling in Management, vol. 15 no. 2
Type: Research Article
ISSN: 1746-5664

Keywords

To view the access options for this content please click here
Article
Publication date: 27 May 2014

Weiwei Wu, Tan Li, Bo Yu and Jiliang Wang

The purpose of this paper is to investigate the impacts of technological capability (TC) and technology management (TM) on the development of China’s telecommunications…

Downloads
3443

Abstract

Purpose

The purpose of this paper is to investigate the impacts of technological capability (TC) and technology management (TM) on the development of China’s telecommunications industry by examining two interrelated questions: Which is the order parameter for China’s telecommunications industry? and What are the relationships between TC and TM? The paper will develop models to analyze TC, TM and the development of China’s telecommunications industry quantitatively.

Design/methodology/approach

The paper reviews literature related to TC and TM and investigates the technical features of China’s telecommunications industry. Then, the paper makes a theoretical analysis of the relationships among them. First, it analyzes the effects of TC and TM on the industry and tries to explore the order parameter. Second, the paper analyzes the interaction between TC and TM. Then, the paper applies the Haken model to construct an analysis model. It also constructs models for measuring TC and TM. Using the data of China’s telecommunications industry from 1991 to 2010, the paper identifies the order parameter for the industry and tests the relationships between TC and TM.

Findings

The paper finds that TC plays a dominant role in the development of China’s telecommunications industry. The paper also finds that TC promotes the development of TM. However, TM fails to promote the development of TC. The paper presents two other important findings. The first one is that China’s telecommunications industry has constructed a positive feedback mechanism for continuous development of TC, which provides an impetus for industry upgrades and development. The second one is that there is no positive feedback growth mechanism for TM capability, which has increased the lag between TM and TC and has become one of the important reasons why TM does not promote TC.

Research limitations/implications

Theoretical and managerial implications are put forward. Thus, TC must be improved to propel the development of China’s telecommunications industry; TM should be greatly improved and an effective growth mechanism for TM should be constructed; the synergy between TM and TC should be achieved. Research limitations are also pointed out. Thus, the results in this paper probably cannot be generalized to other industries; it does go on to discuss the synergetic mode of TM and TC that can best compel industrial development, and it does not explain what the growth mechanisms for TM and TC should be.

Originality/value

The paper is original, as it provides new perspectives of TM and TC for analyzing industrial development, and it provides the method and model for quantitatively analyzing TC and TM at an industry level. It discovers the order parameter and new problems of China’s telecommunications industry, which no one has identified before. The paper also offers references for analyzing other industries from the perspectives of TM and TC.

Details

Chinese Management Studies, vol. 8 no. 2
Type: Research Article
ISSN: 1750-614X

Keywords

Content available
Book part
Publication date: 22 June 2021

John N. Moye

Abstract

Details

The Psychophysics of Learning
Type: Book
ISBN: 978-1-80117-113-7

To view the access options for this content please click here
Article
Publication date: 6 February 2009

Francis R. Ille

The purpose of this paper is to examine the different strategies implemented by a number of successful Chinese firms currently striving to build global brands in order to…

Downloads
4806

Abstract

Purpose

The purpose of this paper is to examine the different strategies implemented by a number of successful Chinese firms currently striving to build global brands in order to improve their export capabilities. A particular emphasis is put on the transfer of marketing technology for brand engineering in order to achieve this goal.

Design/methodology/approach

The analysis uses case study methodology to understand what many prominent Chinese exporting firms have achieved, and develops a theory about their general strategy. Five firms have been chosen: Lenovo, Haier, Cosco, Tsingtao, Geely. Aside from these five, information is also given on the branding strategy of Li Ning and Suntech Power. A great part of the information collected is coming from “desk research”, except for Haier, Lenovo and Tsingtao for which personal contacts and visits took place in 2005 and 2006.

Findings

The findings suggest that some of the most successful Chinese firms in the field of development of brand image either use some marketing tools, such as increasing their communication spending, improving quality control, emphasizing their corporate social responsibility visibility, or by seeking a partnership through mergers/acquisition with successful foreign brands. A basic global branding model has been defined as consistent with Chinese firms’ experience.

Research limitations/implications

The study was limited to seven firms to be considered among the most successful Chinese businesses. It does not intend to be perceived as statistically representative. The period of observation of the effect of the strategy which was implemented was short and during a time of booming Chinese economy. It was impossible to isolate the extraneous variables linked to the economic or competitive situation, knowing that they could affect the observations on the firms that were studied.

Originality/value

Though the entry strategies on the Chinese market as well as inbound foreign direct investments have been the object of a great number of publications, the outbound strategies of Chinese exporting firms, as well as the impact of technology transfer, has been covered less frequently. Therefore, this paper can have value for candidates for the improvement of global branding.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 2 no. 1
Type: Research Article
ISSN: 1754-4408

Keywords

Content available
Book part
Publication date: 20 June 2017

David Shinar

Abstract

Details

Traffic Safety and Human Behavior
Type: Book
ISBN: 978-1-78635-222-4

To view the access options for this content please click here
Article
Publication date: 12 March 2018

Gary Davies, José I. Rojas-Méndez, Susan Whelan, Melisa Mete and Theresa Loo

This paper aims to critique human personality as a theory underpinning brand personality and to propose instead a theory from human perception, and by doing so, to…

Downloads
8019

Abstract

Purpose

This paper aims to critique human personality as a theory underpinning brand personality and to propose instead a theory from human perception, and by doing so, to identify universally relevant dimensions.

Design/methodology/approach

A review of published measures of brand personality, a re-analysis of two existing data bases and the analysis of one new database are used to argue and test for the dimensions derived from perception theory.

Findings

Existing work on brand personality suggests 16 separate dimensions for the construct, but some appear common to most measures. When non-orthogonal rotation is used to re-analyse existing trait data on brand personality, three dimensions derived from signalling and associated theory can emerge: sincerity (e.g. warm, friendly and agreeable), competence (e.g. competent, effective and efficient) and status (e.g. prestigious, elegant and sophisticated). The first two are common to most measures, status is not.

Research limitations/implications

Three dimensions derived from signalling and associated theory are proposed as generic, relevant to all contexts and cultures. They can be supplemented by context specific dimensions.

Practical implications

Measures of these three dimensions should be included in all measures of brand personality.

Originality/value

Prior work on brand personality has focussed on identifying apparently new dimensions for the construct. While most work is not theoretically based, some have argued for the relevance of human personality. That model is challenged, and an alternative approach to both theory and analysis is proposed and successfully tested.

Details

Journal of Product & Brand Management, vol. 27 no. 2
Type: Research Article
ISSN: 1061-0421

Keywords

1 – 10 of 18