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Article
Publication date: 13 November 2019

Zhao Liu, Huan Zhang, Yue-Jun Zhang, Fang-E Duan and Lan-Ye Wei

The purpose of this paper is to analyze the linear and nonlinear effects of market integration on carbon emissions and explore the direct and indirect paths of market…

Abstract

Purpose

The purpose of this paper is to analyze the linear and nonlinear effects of market integration on carbon emissions and explore the direct and indirect paths of market integration on carbon emissions through path analysis.

Design/methodology/approach

The authors first conduct a measurement and contrastive study of the market integration and carbon emissions of China’s 28 provinces from year 1995 to 2015. Then, the linear effect of market integration on carbon emissions is analyzed by using the fixed-effect model. Next, based on the path analysis method, the direct and indirect paths of market integration’s impact on carbon emissions are explored. Finally, the panel threshold regression model is used to evaluate the effect of market integration on carbon emissions under different situations of geographic distance.

Findings

The results show that first, the improvement of market integration can increase carbon emissions in the form of a linear relationship. Second, market integration not only has a direct and positive impact on the carbon emissions, but also has an indirect and positive impact on carbon emissions through the level of economic development, and a negative impact on carbon emissions through technological level. Third, an increase in market integration can reduce its positive effect on carbon emissions, but the improvement of economic growth and technology level can both enhance the positive effect of market integration on carbon emissions.

Research limitations/implications

This paper focuses on the impact of market integration on carbon emissions in 30 provinces in China, while, the authors do not conduct a comparative analysis of different regions, so there are certain limitations. In addition, policy interaction between regional governments is also a key factor affecting carbon emissions, but this paper does not consider the effect of policy interaction, future follow-up research will try to incorporate it into the analytical models.

Practical implications

An important practical implication of this research is that market integration should be regarded highly in China’s energy conservation and emission reduction efforts. The research results have important reference value for policy authorities to formulate relevant policies. That is, the government can play a more active role in the process of integration through breaking the regional blockade and interest barriers to comprehensively improve resource utilization efficiency and technical level, and ultimately achieve regional low-carbon development.

Originality/value

This paper explores the effects of market integration on China’s carbon emissions based on different methods and perspectives, and confirms that market integration plays a vital role in China’s carbon emissions through economic growth and technological progress. Notably, based on the studied results, some specific and practical suggestions are proposed in this paper so as to reduce carbon emission and realize the sustainable development of economy and society in China.

Details

Management Decision, vol. 59 no. 4
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 27 July 2018

Yue-Jun Zhang and Yao-Bin Wu

The purpose of this paper is to explore the dynamic influence of WTI crude oil returns on the stock returns of China’s traditional energy sectors, including oil and gas…

Abstract

Purpose

The purpose of this paper is to explore the dynamic influence of WTI crude oil returns on the stock returns of China’s traditional energy sectors, including oil and gas exploitation, coal mining and processing, petroleum processing and coking, electricity, heat production and supply and mining services.

Design/methodology/approach

Hong’s information spill-over test and the DP Granger causality test are applied to investigate the relationship between the two markets. Moreover, a rolling window is introduced into the above two tests to capture time-varying characteristics of the influence of WTI crude oil returns.

Findings

The empirical results indicate that, first, there exists significant bidirectional linear causality between WTI crude oil returns and China’s traditional energy sectoral stock returns, but the nonlinear causality appears weaker. Second, the influence of WTI crude oil returns on traditional energy sectoral stock returns has time-varying characteristics and industry heterogeneity both in the linear and nonlinear cases. Finally, the decline of WTI crude oil prices may strengthen its linear influence on the stock returns of traditional energy sectors, while the excessive rise of market values in traditional energy sectors may weaken the linear and nonlinear influence of WTI on them.

Originality/value

The general nexus between international crude oil market and China’s traditional energy stock market is explored both in the linear and nonlinear perspectives. In particular, the dynamic linear and nonlinear influence of WTI crude oil returns on China’s traditional energy sectoral stock returns and its industry heterogeneity are analysed in detail.

Details

China Agricultural Economic Review, vol. 10 no. 3
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 4 May 2021

Xin Feng, Hanshui Zhang, Yue Zhang, Liming Sun, Jiapei Li and Ye Wu

The emergence of a coronavirus disease 2019 (COVID-19) epidemic has had a tremendous impact on the world, and the characteristics of its evolution need to be better understood.

Abstract

Purpose

The emergence of a coronavirus disease 2019 (COVID-19) epidemic has had a tremendous impact on the world, and the characteristics of its evolution need to be better understood.

Design/methodology/approach

To explore the changes of cases and control them effectively, this paper analyzes and models the fluctuation and dynamic characteristics of the daily growth rate based on the data of newly confirmed cases around the world. Based on the data, the authors identify the inflection points and analyze the causes of the new daily confirmed cases and deaths worldwide.

Findings

The study found that the growth sequence of the number of new confirmed COVID-19 cases per day has a significant cluster of fluctuations. The impact of previous fluctuations in the future is gradually attenuated and shows a relatively gentle long-term downward trend. There are four inflection points in the global time series of new confirmed cases and the number of deaths per day. And these inflection points show the state of an accelerated rise, a slowdown in the rate of decline, a slowdown in the rate of growth and an accelerated decline in turn.

Originality/value

This paper has a certain guiding and innovative significance for the dynamic research of COVID-19 cases in the world.

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Article
Publication date: 30 April 2021

Yue-Jun Zhang and Xu Pan

Risk aversion is considered as an important factor in predicting asset prices. Many studies have proved that there exists important price information spillover among crude…

Abstract

Purpose

Risk aversion is considered as an important factor in predicting asset prices. Many studies have proved that there exists important price information spillover among crude oil, precious metals and agricultural markets. Then there naturally follows the question: Is the risk aversion of investors in crude oil market predictable for the returns of precious metals and agricultural products? The purpose of this paper is to answer this question. For this reason, the authors explore the directional predictability and the cross-quantile dependence between risk aversion of crude oil market investors and returns of precious metals and agricultural products.

Design/methodology/approach

To better describe the risk aversion of investors, this paper uses high-frequency data and model-free calculation method to obtain variance risk premium of crude oil. Then, this paper uses the cross-quantilogram method to investigate the directional predictability and cross-quantile dependence between risk aversion of crude oil market investors and returns of precious metals and agricultural products. Meanwhile, it employs the partial cross-quantilogram (PCQ) method to test the impact of control variables on the empirical results.

Findings

Firstly, risk aversion of crude oil market investors has directional predictability for returns of precious metals and agricultural products. Secondly, different degrees of risk aversion of crude oil market investors have different impacts on returns of precious metals and agricultural products. A low (high) degree of crude oil market investors' risk aversion has negative (positive) predictability for returns of precious metals and agricultural products. Finally, during the sample period, the returns of precious metals are more affected by risk aversion of crude oil market investors than returns of agricultural products.

Originality/value

First of all, this paper studies the impact of risk aversion of crude oil market investors on returns of precious metals and agricultural products. It updates previous relevant studies on the factors influencing the prices of precious metals and agricultural products, and provides a new idea for the forecast of those commodity returns. Secondly, this paper provides the evidence that different degrees of risk aversion of investors have different effects on the returns of commodities, and expands the research on the topic of commodity returns prediction. Finally, high-frequency data are employed in this paper to better capture the risk aversion of investors than commonly used daily data.

Details

China Agricultural Economic Review, vol. 13 no. 4
Type: Research Article
ISSN: 1756-137X

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Article
Publication date: 18 October 2018

Marina Yue Zhang

Firms engaged in international business necessarily make predictions about the business environments in which they operate or seek to enter, on the basis of which they…

Abstract

Purpose

Firms engaged in international business necessarily make predictions about the business environments in which they operate or seek to enter, on the basis of which they make a number of strategic decisions. The purpose of this paper is to consider the difficulties there are in making accurate predictions and how the process might be improved.

Design/methodology/approach

The paper examines predictions made in 2007 by ‘China experts’ about what the Chinese business environment would look like in 2017. Their predictions were accurate in respect of around two-thirds of the issues they were asked to consider. This paper focuses on the one-third of issues about which they were wide of the mark and examine the likely reasons.

Findings

The predictions of the 2007 study were accurate in respect of around two-thirds of the issues the China experts on the Delphi panel were asked to consider. The reason that they were wide of the mark on about one-third of issues could be attributed to two main factors: the 2008/2009 Global Financial Crisis and the appointment in 2013 of Xi Jinping as the President of China. These events precipitated changes in direction in the Chinese business environment that had not been (and could not have been) anticipated by the Delphi panel.

Originality/value

Very few Delphi studies have been subject to a follow-up examination of the accuracy of their predictions. This paper contributes a discussion the various methodologies that firms can use to improve their forecasts of international business environments.

Details

foresight, vol. 20 no. 6
Type: Research Article
ISSN: 1463-6689

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Article
Publication date: 28 May 2021

Xinyi Liu, Zhiyong Li, Qiqi Zhang and Yue Zhang

This study aims to identify the factors influencing Chinese outbound tourists’ perceptions of safety in Thailand. A media coverage analysis compares the safety perceptions…

Abstract

Purpose

This study aims to identify the factors influencing Chinese outbound tourists’ perceptions of safety in Thailand. A media coverage analysis compares the safety perceptions of visitors and non-visitors.

Design/methodology/approach

A mixed-methods approach was adopted. Based on a content analysis of 204 news items related to safety incidents in Thailand, this paper divides the factors of safety perception into four dimensions. The quantitative data were gathered by self-administered questionnaires from 370 visitors who have previously visited Thailand and 407 potential visitors yet to visit Thailand.

Findings

The results demonstrated significant differences in the safety perceptions of visitors and non-visitors, indicating non-visitors’ fear of uncertainty and intolerance of the exotic. The study also confirmed social-demographic characteristics influence destination safety perceptions. For non-visitors, safety issues tend to have a negative influence on future visit intention, but those with previous travel experience have less concerns.

Research limitations/implications

The findings provide valuable insights to industry practice. More publicity campaigns within the Chinese media may reduce the spillover effects of crisis events and correct the potentially inaccurate images of disease and terrorism risk. Thai government is suggested to develop the Chinese inbound market, improve the quality of tourism infrastructure and standardisation and efficiency of tourism services.

Originality/value

The media plays a significant role in destination image, tourist decision-making and safety measures imposed by governments. This study identified the factors influencing Chinese outbound tourists’ perceptions of safety in Thailand through an analysis of media coverage. The study provides a better understanding of the differences in safety perceptions between visitors and non-visitors to Thailand. The segmentation of visitors and non-visitors also may help destination managers to cater to differing expectations of safety.

研究目的

本研究旨在探讨中国赴泰游客和潜在赴泰游客对泰国安全认知的影响因素。本研究通过对媒体报道文本的分析,识别出中国出境游客泰国安全感的影响因素,并进一步对游客与潜在游客在安全感知上的差异进行对比。

设计/方法/方法

本研究采用了混合方法。本文通过对204篇泰国安全事件新闻报道的内容进行分析,将安全感知因素分为四个维度。定量研究数据是从370名有泰国旅游经历的游客和407名没有去过泰国的潜在游客中收集的。

研究结果

研究结果显示游客与潜在游客在安全认知上有显著差异,体现了潜在访客对异国情调的不确定性和不宽容。本研究也证实了社会人口学特征对两个群体的目的地安全感知都有影响。此外,对于潜在游客来说,大多数安全问题都会对他们未来的访问意图产生负面影响,但对于游客来说,结果则相反。

原创性/价值

媒体在目的地形象、旅游决策和政府安全措施方面发挥着重要作用。本研究以媒体报导为分析工具,探讨中国出境游客泰国安全感的影响因素。这项研究有助于更好地了解中国赴泰游客和潜在游客在安全认知方面的差异。游客和潜在游客的细分也有助于目的地管理者满足他们对安全的特定期望。

研究局限性/启示

我们的发现为行业实践提供了有价值的见解。在中国媒体上开展更多的宣传活动,可以减少危机事件的外溢效应,纠正有关疾病和恐怖主义风险的潜在地不准确形象。此外,泰国政府应提高旅游基础设施的质量,提高旅游服务的标准化和效率。

Propósito

Este estudio identifica los factores que influyen en la seguridad percibida de Tailandia por los turistas emisores chinos, con el análisis de la cobertura de los medios, y además compara las diferencias en las percepciones de seguridad entre visitantes y no visitantes.

Diseño/metodología/enfoque

Se ha adoptado una metodología mixta. Basado en el análisis de contenido de 204 noticias sobre incidentes de seguridad en Tailandia, este trabajo divide los factores de percepción de seguridad en cuatro dimensiones. Los datos cuantitativos se recopilaron mediante cuestionarios autoadministrados de 370 visitantes que tenían experiencia en viajes a Tailandia y 407 visitantes potenciales que no habían estado en Tailandia.

Resultados

Los resultados demuestran diferencias significativas en la percepción de seguridad de los visitantes y no visitantes, lo que indica el miedo de los no visitantes a la incertidumbre y la intolerancia de lo exótico. Este estudio también confirma que las características sociodemográficas influyen en la percepción de seguridad del destino de cada grupo. Además, para los no visitantes, la mayoría de las cuestiones de seguridad influyen negativamente en su intención de visita futura, pero para los turistas, los resultados son contrarios.

Limitaciones/implicaciones de la investigación

Los resultados brindan información valiosa para la práctica de la industria. Más campañas publicitarias en los medios chinos podrían reducir los efectos secundarios de los eventos de crisis y corregir las imágenes potencialmente inexactas sobre los riesgos de enfermedades y terrorismo. Además, el gobierno tailandés debería mejorar la calidad de su infraestructura turística y aumentar la estandarización y eficiencia de los servicios turísticos.

Originalidad/valor

Los medios de comunicación juegan un papel importante en la imagen del destino, la toma de decisiones turísticas y las medidas de seguridad de los gobiernos. Este estudio identifica los factores que influyen en la seguridad percibida de Tailandia por parte de los turistas chinos, con el análisis de la cobertura de los medios. El estudio proporciona una mejor comprensión de las diferencias en las percepciones de seguridad entre visitantes y no visitantes de Tailandia. La segmentación de visitantes y no visitantes también ayuda a los gestores de los destinos a satisfacer expectativas específicas de seguridad.

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Article
Publication date: 13 February 2017

Yue Zhang, Qiaozhuan Liang and Peihua Fan

Combining the punctuated equilibrium theory with the faultline theory, the purpose of this paper is to focus on member change of strategic core role holders in teams.

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Abstract

Purpose

Combining the punctuated equilibrium theory with the faultline theory, the purpose of this paper is to focus on member change of strategic core role holders in teams.

Design/methodology/approach

The authors test the model using data from 30 National Basketball Association teams covering 11 regular seasons, carrying out regression analyses.

Findings

This research illustrates how different types of job-related skills of core role holders that involved in member change might influence the team performance loss, and how team demographic faultlines would serve as a moderator.

Practical implications

This research demonstrates that punctuational change in a team is not always bad, flux in coordination and team performance loss could be avoided by staffing strategic core role based on specific job-related skill levels and manipulating team composition based on demographic attributes.

Originality/value

The research model initially provides an integrated perspective of member change, core role and faultline theory to explain the team process for punctuational change.

Details

Journal of Organizational Change Management, vol. 30 no. 1
Type: Research Article
ISSN: 0953-4814

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Article
Publication date: 17 July 2019

Hui Chen, Qiao-zhuan Liang and Yue Zhang

The current research studies are inconclusive about the positive or negative effects of group faultlines, especially in the Chinese context. To address this issue, this…

Abstract

Purpose

The current research studies are inconclusive about the positive or negative effects of group faultlines, especially in the Chinese context. To address this issue, this study aims to adopt an interactive perspective to explore the group interaction process. Specifically, this study proposes a new construct “interactive faultlines” to integrate overall faultlines and separate faultlines, and based on categorization-elaboration model (CEM), develops an integrated moderated mediation model to examine when and how interactive faultlines facilitate or inhibit group creativity.

Design/methodology/approach

This study tests the model with the samples of 405 employees from 95 groups in China, carrying out confirmatory factor analysis, regression analysis and process.

Findings

This study finds that the indirect effect of informational faultlines on group creativity through information elaboration is positive when social faultlines are low, but negative when social faultlines are high.

Practical implications

This research provides some practical implications on how to manage group compositions and coordinate group interaction process to make full use of the potential benefits of diverse information and avoid the possible detriment from social categorization.

Originality/value

This study adopts an interactive perspective to consider informational faultlines and social faultlines simultaneously, and constructs a focal concept “interactive faultlines.” Based on CEM, it also offers a fine-grained picture of the double-edged relationship between informational faultlines and group creativity by identifying social faultlines as a moderator and information elaboration as a mediator, which advances knowledge about the linkages between interactive faultlines and group creativity. Particularly, this study is rooted in the Chinese context and brings in indigenous attributes derived from an analysis of Eastern cultures to elucidate the particular effect of informal social connections.

Details

Chinese Management Studies, vol. 13 no. 4
Type: Research Article
ISSN: 1750-614X

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Article
Publication date: 6 November 2017

Pingping Xiong, Yue Zhang, Bo Zeng and Tian-Xiang Yao

Aiming at the traditional multivariate grey forecasting model only considers the modelling of real numbers; therefore, the purpose of this paper is to construct an MGM(1, m

Abstract

Purpose

Aiming at the traditional multivariate grey forecasting model only considers the modelling of real numbers; therefore, the purpose of this paper is to construct an MGM(1, m) model based on the interval grey number sequences according to the grey modelling theory.

Design/methodology/approach

First, the multivariable grey number sequences are transformed into the kernel and grey radius sequences which are two feature sequences of interval grey number sequences. Then the MGM(1, m) model for kernel sequences and grey radius sequences are established, respectively. Finally, the simulation and prediction of the upper and lower bounds of the interval grey number sequences are realized by the reductive calculation of the predicted values of the kernel and grey radius.

Findings

The model is applied to the prediction of visibility and relative humidity, the identification factors of the haze. The results show that the model has high accuracy on the simulation and prediction of multivariable grey number sequences, which is reasonable and practical.

Originality/value

The main contribution of this paper is to propose a method to simulate and forecast the multivariable grey number sequence that is to establish the prediction models for the whitening sequences of multivariable grey number sequences which are kernel and grey radius sequences and extend the possibility boundary of kernel by grey radius. The model can reflect the development trend of multivariable grey number sequence accurately. When the grey information is continuously complemented, the multivariable grey number prediction model is transformed into the traditional MGM(1, m) model. Therefore, the MGM(1, m) model based on interval grey number sequence is the generalisation and expansion of the traditional MGM(1, m) model.

Details

Grey Systems: Theory and Application, vol. 7 no. 3
Type: Research Article
ISSN: 2043-9377

Keywords

Abstract

Details

Benchmarking: An International Journal, vol. 25 no. 5
Type: Research Article
ISSN: 1463-5771

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