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The purpose of this paper is to examine the relationship between the US and China stock markets between 2000 and 2007. This study attempts to categorize the event on February 27, 2007, i.e. 9 per cent plunge in Shanghai stock market followed by the $1.5 trillion global market shake out, as irrational, i.e. herd mentality.

To test for this relationship, the Morgan Stanley Capital International daily price index data was collected from April 15, 2002 to April 12, 2007. Daily Dow Jones Industrial Average (DJIA), Nikkei 225 (Nikkei), Hang Seng Index, and the Shanghai Stock Exchange Composite Index (SSECI) were collected from finance.yahoo.com from January 1, 2000 until April 3, 2007. The running beta and correlation coefficients, defined as the cumulative coefficients, are used to determine the co‐movement of the SSECI and DJIA.

The strength of the relationship between the US and China stock markets has significantly increased since 2005, maybe attributed to China's policy change in 2005 to move toward a more free market economy. Because of the unique characteristics of China's stock market, it is hard to conclude that the $1.5 trillion global market shake out was ignited by the 9 per cent plunge in the Shanghai stock market on February 27, 2007.

China's economic reform is unique since the country followed no blue print for the economic institutions to model after and policies were adopted through experimentation. Fueled by its fast growing economy (10.4 per cent in 2005 and 10.7 per cent in 2006), using past patterns or trends to predict the future of China's financial market requires further research as its stock market emerges. Research in this area requires more observations as China's stock market grows and becomes more transparent.

Results here suggest that the strength of the relationship between the US and China stock markets has significantly increased since 2005 and that China's 2005 policy moves toward a more free market economy are most likely responsible.

A better understanding of the influence of China's emerging stock market on the global stock market offers significant value to portfolio managers worldwide.

This paper presents a model relating Nagle and Holden's factors of price sensitivity to expected price and willingness to pay. This work presents various perspectives on price elasticity/sensitivity, empirically tests aspects of the influence of perception of the offer (product/service) on expected price, and illustrates how the pricing methods developed within provide quantitative precision to the practice of price setting by capturing perceptions important to consumers.

The authors used a within‐subjects design to study four brands in two product categories, automobiles and computers. Model evaluation employs ordinary least squares regression.

Ten qualitative factors were studied. Overall, the results show four factors predict expected price for the target market, product and brand. The factors are perceived substitutes, quality, fairness, and unique value.

This research makes the following contributions. First, the authors are able to quantify ten factors of price sensitivity relevant to the evaluation of product pricing. Second, they are able to identify the relevant factors of price sensitivity for two product categories specific to a given target market. Third, they provide a data‐driven model that enables translation of pricing variables into quantitative values to arrive at the price of a product. The major theoretical contribution of this paper is to show that Nagle and Holden's ten factors of price sensitivity may act in the following way: the change in product/service perception may influence expected price, and then the change in expected price influences willingness to pay. The empirical focus of the current research is on the first of these two changes.

This study develops the economic rationale for the inclusion of new environmental financial assets, tradable pollution rights, in a well‐diversified portfolio. These new assets are generated and their valuation determined in the market‐incentive environmental regulatory approach called emissions trading, especially the cap‐and‐trade variant. This approach has been gaining wide acceptance and approval. A leading example is the sulfur dioxide market where tradable allowances are assets that may be held by private investors. Transactions in this market have reached volumes indicative of a high degree of liquidity. Comparable tradable rights in other pollutants are under active development. We explain the design and workings of these markets and demonstrate empirically, on the basis of time series data, that sulfur dioxide allowances have rates of return and yield distributions that make them candidates for inclusion in asset portfolios. We conjecture that other tradable pollution rights will exhibit similar properties when sufficient data are available. Financial analysts and accountants are likely to play an increasing role in advising investors about the role of these assets in a well‐diversified portfolio.

In a time of global recession and customers' pejorative perceptions of financial products, international banks need to understand the determinants of behavioral intentions of high‐net‐worth individuals when considering business tactics for capturing the lucrative wealth management services (WMS) markets. This paper aims to build a predictive model using the theory of planned behavior to determine behavioral intentions of Taiwanese nationals based in the People's Republic of China (the PRC) in respect of their choice and decisions about WMS providers.

Two‐phased sequential mix methods, based on the theory of planned behavior, are employed to investigate factors that influence the choice of wealth management services providers by Taiwanese based in the PRC. An elicitation study plus three pilot tests were administered for questionnaire development, refinement and finalization. The main study employs a cross‐sectional study of Taiwan home nationals resident in China.

A cross sectional study of 227 Taiwanese nationals based in the PRC indicated that “Feeling of trustworthiness”, “Provision of flexible services”, and “Feeling of cultural affinity” are the most crucial among the ten factors related to their intentions and decision making about choice of WMS providers.

The results point to managerial implications of banks' identity, deployment of expatriates, brand‐image position and a regional portfolio platform for bank management to consider entry strategies into the PRC.

This research is the first empirical study in investigating the attitudinal dynamics on wealth management services and their implications to international banks in the PRC.

The purpose of this study is to investigate how to measure student satisfaction and how its elements influence on its overall perspective earned in e‐learning (EL). This study focuses on the context where EL is used as a supplementary tool to enhance instruction.

This study focuses on undergraduate courses that offer EL as a voluntary and supplementary form of instruction in Thailand. The measurement's instrument was adapted from scales widely accepted in management, information systems, and education research to fit the unique characteristics of the online education context. A few course characteristics are outlined to ensure the originality of the context. Survey is the main methodology of this study; reliability and validity of the measure are also tested and discussed in the paper.

The study highlights four dimensions of satisfaction in EL: delivery method, communication facilitation, system operation, and content. It is found from the study that elements of satisfaction measure are altered regarding to different contexts of EL. Each of these dimensions has been found to influence the overall satisfaction in EL.

Implications for instruction via EL are suggested in the paper according to the satisfaction elements. The course which the context is similar to this study should be designed differently from the traditional classroom or sole EL instruction methods.

This study is conducted in the context where EL is implemented for augmenting the main classroom instruction. Students are satisfied with learning through EL channel differently from learning in either pure traditional in‐class or sole EL instructions. This is what educators should concern in improving their instruction.

This chapter is a contribution to a recent restricted literature dealing with the return of microfinance investment in the financial markets. We study the performance of public microfinance investment vehicles (MIVs). Microfinance is an asset class with a double bottom line: social and financial returns have to be generated. Despite a significant currency risk, we find that the integration of microfinance assets diversifies the investor’s risks and improves the efficient frontier. We conclude that microfinance institutions, via investment vehicles, are likely to attract capital from socially responsible investors seeking new investment opportunities.

Advances in information technology have revolutionised the working environment. The concept of working in virtual teams was in existence in the developed part of the globe since 1960s. In developing economies, it emerged in the recent decades and gained impetus during the ongoing pandemic. This paper aims to propose examining the relationship between team cohesion and virtual team performance with the help of meta-analysis.

On published research, combined random effect meta-analysis and moderator analysis were done with the aid of Meta-essential 1.5 software. The preferred reporting items for systematic reviews and meta-analyses was designed for systematic meta-analysis.

The meta-analysis shows significant effect of cohesion on virtual team performance (r = 0.40, p < 0.000). Study outcomes indicate a positive relationship between team cohesion and virtual team performance. High heterogeneity was found and moderator analysis was performed to examine the heterogeneity.

According to the findings, the performance of teams of different sizes, tenure and occupation should not be viewed as equivalent. Results of the study can be generalised to business (employees), education (students) and online gaming teams.

Managers should be aware of cohesion concerns in work process because they may foreshadow future performance challenges or reflect other organisational issues affecting virtual team performance. The relationship between team cohesion and team performance is predicted by team occupation, size and time.

To the best of the authors’ knowledge, this work is a first attempt to undertake meta-analysis to study the relationship between team cohesion and virtual team performance.

Following recent changes to the juvenile justice system in South Australia, police officers are expected to adopt a more proactive role in intervening with young offenders. The present study addressed the possible role of attitudinal, personality, and demographic differences as predictors of police preparedness to employ diversionary practices with young offenders. Participants were 201 operational police officers. Examined were the relationships between reported diversionary behavior in response to juvenile and adult offending scenarios and individual differences in legal authoritarianism, punitiveness, proactive personality, empathy, job classification, educational level, age, and length of service. Preparedness to divert adult offenders was significantly predicted by age (negatively). Although preparedness to divert young offenders was partially explained by responses to adult offending scenarios, empathy, legal authoritarianism (negatively) and, to a lesser degree, educational level, made significant unique contributions to a predictive model. Findings are discussed in terms of their implications for understanding of the manner in which police are likely to exercise discretionary powers with juvenile offenders.

Religion plays a crucial role as a sociocultural factor to assess consumer behavior. Stemming from the above, this study aims to analyze the impact of religion and ethnic concern on the purchase intention (PI) of consumers based on the theory of planned behavior.

The research method adopted for this study includes a meta-analysis of the extant literature for the past 20 years focusing on the relationship between religiosity and PI. Data of 24 values from 23 studies were used to assess the impact of religiosity on the PI of consumers.

The findings of this study indicate that religiosity has a strong impact on the PI of consumers. Further, this study identifies that location, sample size and product category play a vital role as moderators toward the relationship between religiosity and PI. This study identifies critical and pertinent implications for brands as they reach out to religious and cultural groups across various geographies, in the context of identifying target markets and adapting marketing strategies.

This study acts in response to the consistent call for research to focus on religion-related variables and fills the gap calling for empirical research into religiosity and its impact on PIs. This study makes notable theoretical, managerial and methodological contributions to the field.

In the present paper direct as well as indirect relationships between organizational changes and exposure to bullying at work are investigated. Interpersonal conflicts are hypothesized to mediate changes on bullying. Data from a sample of 2408 Norwegian employees confirmed that different organizational changes were moderately associated with task-related bullying at work, and that exposure to more changes increased the likelihood of being bullied. Structural equation modelling supported the assumption that changes were directly related to bullying. However, the hypothesis that changes were mediated on bullying through interpersonal conflicts was not supported. Results indicate that organizational changes and interpersonal conflicts are separate, and mainly independent, precursors of bullying at work.