The dynamic interaction between investor attention and green security market: an empirical study based on Baidu index

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yang Gao ◽  
Yangyang Li ◽  
Yaojun Wang
Keyword(s):  
Behavioral Finance ◽  
Time Window ◽  
Error Variance ◽  
Dynamic Interaction ◽  
Security Market ◽  
Practical Application ◽  
Investor Attention ◽  
Content Type ◽  
Security Markets ◽  
Green Finance

PurposeThis paper aims to explore the interaction between investor attention and green security markets, including green bonds and stocks.Design/methodology/approachThis study takes the Baidu index of “green finance” as the proxy for investor attention and constructs several generalized prediction error variance decomposition models to investigate the interdependence. It further analyzes the dynamic interaction between investor attention and the return and volatility of green security markets using the rolling time window.FindingsThe empirical analysis and robustness test results reveal that the spillovers between investor attention and the return and volatility of the green bond market are relatively stable. In contrast, the spillover level between investor attention and the green stock market displays significant time-varying and asymmetric effects. Moreover, the volatility spillover between investor attention and green securities is vulnerable to major financial events, while the return spillover is extremely sensitive to market performance.Originality/valueThe conclusion further expands the practical application and theoretical framework of behavioral finance in green finance and provides a new reference for investors and regulators. Besides, this study also lays a theoretical basis for investors to focus on the practical application of volatility prediction and risk management in green securities.

Investment Perspective According to Behavioral Finance Science

2010 ◽  
Vol 16 (58) ◽  
pp. 1
Author(s):  
Sa’ad Al-Anizi
Keyword(s):  
Human Behavior ◽  
Behavioral Finance ◽  
Human Action ◽  
Security Market ◽  
Market Theory ◽  
Efficient Market ◽  
Financial Decisions ◽  
Security Markets ◽  
Efficient Market Theory ◽  
Financial Awareness

The first thing that comes to mind is the highly important question of whether there were some effects of human behavior and its fluctuations on the theories of the efficient market and the contemporary investment portfolio. According to what has been said by the proponents of these two theories; when the optimal return is realized, the efficiency of the market is achieved in terms of perfect information on prices and risk that supposed to be predetermined in a rational way. he other question that imposed here is “at what time people should be rational in their investments in the security markets ?”. This means that investors are rational for their efforts devoted to utility maximization, which are perceived as a result of investing their wealth in the best possible manner. Then, can those two questions be achieved in practice? Many ontological aspects are influenced in their relations by emotions and feelings more than by money as a financial resource . Investors may take irrational financial decisions because of the dominance of those emotions and feelings compared with what investors do toward other actions in their public and special daily life. Understanding investors financial awareness without taking into account the human action is considered as an outstanding problem which can be assimilated as an attempt to sail with compass, but without guided maps. The importance and necessity of human psychological factor are arise when we are talking about investing common stocks in the security market. Then, this means that issues directing investment decisions of individuals in financial assets whether they were stocks or bonds, can be only interpreted with referring to principles of human behavior. Absolutely there is no exaggeration if we said that the market in general be advanced, lagged behind , prospected , and crept when making collective  decisions in buying securities through viewing  psychological factors which capture individuals behaviors after information being collected and analyzed. The validity of an efficient market theory has been widely accepted by its proponents for a long time lasting almost a century so that any research on  the psychological aspects of a security market encountered by objection till a close time of ten years .  

The security market and the changing government role in Japan

2016 ◽  
Vol 5 (4) ◽  
pp. 388-407 ◽  
Author(s):  
Masao Nakamura
Keyword(s):  
Corporate Governance ◽  
Selective Adaptation ◽  
Security Market ◽  
Business Practices ◽  
Governance Mechanisms ◽  
Content Type ◽  
Security Markets ◽  
Corporate Governance Mechanisms ◽  
Corporate Governance Reforms ◽  
Governance Reforms

Purpose The purpose of this paper is to explain how current security market regulations in Japan have evolved following Japan’s corporate governance reforms, which began in the 1990s after the bursting of a massive financial bubble. As part of the reform, Japan aimed to introduce US-style corporate governance mechanisms. Design/methodology/approach This paper first explains the process behind Japan’s corporate governance reforms using the theory of selective adaptation. By doing so, the various changes that have taken place in the regulations of security markets are also explained. The paper concludes with a discussion of the limitations of transplanting US-style corporate governance mechanisms in Japan and the implications for the functioning of Japan’s security markets. Findings While applying a selective adaptation framework to Japan’s efforts to transplant US-style corporate governance mechanisms to its own markets, the author found that certain Japan-specific business practices, such as its heavy reliance on keiretsu corporate groupings, may interfere with the market-based business practices and free competition which characterize the US system. This in turn places limitations on the functioning of US-style security markets in Japan. Originality/value This paper explains the limitations of government regulation on security markets in Japan, which may be of interest to both public and private sector analysts. This paper focusses on Japan’s experience of transplanting US-style corporate governance mechanisms to Japan. The author expect that Japan’s experience will be of much interest to China, South Korea and other countries in East Asia, where pyramidal and other types of business groups play important roles in their economies.

scholarly journals Identification of Insider Trading Using Extreme Gradient Boosting and Multi-Objective Optimization

Information ◽  
2019 ◽  
Vol 10 (12) ◽  
pp. 367 ◽  
Author(s):  
Shangkun Deng ◽  
Chenguang Wang ◽  
Jie Li ◽  
Haoran Yu ◽  
Hongyu Tian ◽  
...  
Keyword(s):  
Insider Trading ◽  
Time Window ◽  
Identification Accuracy ◽  
Gradient Boosting ◽  
Security Market ◽  
Multiple Time ◽  
Window Length ◽  
Nsga Ii ◽  
Security Markets ◽  
Extreme Gradient Boosting

Illegal insider trading identification presents a challenging task that attracts great interest from researchers due to the serious harm of insider trading activities to the investors’ confidence and the sustainable development of security markets. In this study, we proposed an identification approach which integrates XGboost (eXtreme Gradient Boosting) and NSGA-II (Non-dominated Sorting Genetic Algorithm II) for insider trading regulation. First, the insider trading cases that occurred in the Chinese security market were automatically derived, and their relevant indicators were calculated and obtained. Then, the proposed method trained the XGboost model and it employed the NSGA-II for optimizing the parameters of XGboost by using multiple objective functions. Finally, the testing samples were identified using the XGboost with optimized parameters. Its performances were empirically measured by both identification accuracy and efficiency over multiple time window lengths. Results of experiments showed that the proposed approach successfully achieved the best accuracy under the time window length of 90-days, demonstrating that relevant features calculated within the 90-days time window length could be extremely beneficial for insider trading regulation. Additionally, the proposed approach outperformed all benchmark methods in terms of both identification accuracy and efficiency, indicating that it could be used as an alternative approach for insider trading regulation in the Chinese security market. The proposed approach and results in this research is of great significance for market regulators to improve their supervision efficiency and accuracy on illegal insider trading identification.

The 4Cs of mass customization in service industries: a customer lens

2020 ◽  
Vol 34 (4) ◽  
pp. 499-511 ◽  
Author(s):  
Jessica L. Pallant ◽  
Sean Sands ◽  
Ingo Oswald Karpen
Keyword(s):  
Boundary Conditions ◽  
Mass Customization ◽  
Design Methodology ◽  
Service Industries ◽  
Future Research ◽  
Practical Application ◽  
Theoretical Understanding ◽  
Content Type ◽  
Priority Areas ◽  
Research Priority

Purpose Increasingly, customers are demanding products that fit their individual needs. Many firms respond by cultivating product individualization via mass customization, often integrating this capability via interactive platforms that connect them with customers. Despite such customization, research to date has lacked cohesion, often taking the organizational, rather than customer, view. The purpose of this paper is to provide inconclusive theorizing in regard to customization from the consumers’ perspective. Design/methodology/approach The review and synthesis of the literature revealed that co-configuration is an underexplored domain of mass customization. Consequently, an initial conceptualization of co-configuration is developed and compared with current customization strategies. Specifically, the definition and boundary conditions of co-configuration are compared with three domains of mass customization, namely, co-production, co-construction and co-design. This led to the development of research priority areas to establish an agenda for future research on mass customization and its role in customer’ firm relationships. Findings This paper provides the delineation of four distinct consumer customization strategies, conceptualized in a matrix, and proposes separate customer journey visualizations. In advancing the theoretical understanding by means of a unifying typology, this paper identifies three existing Cs of mass customization (co-production, co-construction and co-design) and focuses specifically on a fourth (co-configuration), identified as an understudied mass customization strategy. Originality/value This paper extends the previous conceptualizations of mass customization comprising co-production, co-design and co-construction. The proposed typology establishes a foundation for four research priority areas that can improve both academic rigor and practical application.

The generation of adaptive assembly from predicting change propagation

2015 ◽  
Vol 35 (3) ◽  
pp. 269-280 ◽  
Author(s):  
Hu Qiao ◽  
Rong Mo ◽  
Ying Xiang
Keyword(s):  
Computer Aided Design ◽  
Three Dimensional ◽  
Original Method ◽  
Change Propagation ◽  
Assembly Model ◽  
Practical Application ◽  
Content Type ◽  
Design Structure ◽  
Aided Design ◽  
Practical Implications

Purpose – The purpose of this paper is to establish an adaptive assembly, to realize the adaptive changing of the models and to improve the flexibility and reliability of assembly change. For a three-dimensional (3D) computer-aided design (CAD) assembly in a changing process, there are two practical problems. One is delivering parameters’ information not smoothly. The other one is to easily destroy an assembly structure. Design/methodology/approach – The paper establishes associated parameters design structure matrix of related parts, and predicts possible propagation paths of the parameters. Based on the predicted path, structured storage is made for the affected parameters, tolerance range and the calculation relations. The study combines structured path information and all constrained assemblies to build the adaptive assembly, proposes an adaptive change algorithm for assembly changing and discusses the extendibility of the adaptive assembly. Findings – The approach would improve the flexibility and reliability of assembly change and be applied to different CAD platform. Practical implications – The examples illustrate the construction and adaptive behavior of the assembly and verify the feasibility and reasonability of the adaptive assembly in practical application. Originality/value – The adaptive assembly model proposed in the paper is an original method to assembly change. And compared with other methods, good results have been obtained.

Effect of load type on temperature rise of a disc brake

2014 ◽  
Vol 5 (1) ◽  
pp. 30-44 ◽  
Author(s):  
Qing-rui Meng
Keyword(s):  
Contact Pressure ◽  
Temperature Rise ◽  
Axial Direction ◽  
Sine Wave ◽  
Practical Application ◽  
Ansys Software ◽  
Content Type ◽  
Load Types ◽  
Load Simulation ◽  
Contact Pressures

Purpose – The purpose of this paper is to reveal the temperature rise characteristics of the disc and pads under different load types. Design/methodology/approach – Evolutions of the disc and pads temperature under a stable, gradual changing and sine-wave contact pressures widely used at present are analyzed numerically by using ANSYS software. Findings – The results show that during the loading process, the temperature increases most rapidly under a stable contact pressure, most slowly under a gradual changing contact pressure; the disc temperature rise curves expose saw-shaped character, the closer it is to the friction surface, the more serious the fluctuations will be, the pads temperature rise curves are rather smooth; temperature gradient in the axial direction is higher than that in the other two directions under all of the three types of contact pressure and shows a sine-wave variation under a sine-wave contact pressure. Originality/value – It indicates that a gradual changing contact pressure should be adopted preferentially in practical application. The simulation results of this work provide theoretical basis for load simulation.

Herbert Olivecrona: founder of Swedish neurosurgery

1993 ◽  
Vol 78 (1) ◽  
pp. 142-149 ◽  
Author(s):  
Bengt Ljunggren
Keyword(s):  
Medical Society ◽  
Practical Application ◽  
Posterior Fossa Tumors ◽  
Neurosurgical Department ◽  
Content Type ◽  
Harvey Cushing ◽  
International Reputation ◽  
Technical Innovations ◽  
Diagnostic Neuroradiology ◽  
The Ideal

✓ Herbert Olivecrona (1891–1980) singlehandedly founded Swedish neurosurgery. At the International Congress in Neurology in Bern in August, 1931, Harvey Cushing invited the cream of the world's medical society to a private banquet. Among the 28 specially invited guests was Herbert Olivecrona. At 40 years old, Olivecrona took his seat with pioneers such as Otfrid Foerster, Percival Bailey, Hugh Cairns, Geoffrey Jefferson, and Sir Charles Sherrington. This suggests that Cushing was impressed by the Swedish aristocrat's didactic deeds when he visited the Serafimer Hospital in Stockholm 2 years earlier. During the mid-1920's, the radiologist Erik Lysholm greatly improved the technique of ventriculography and, challenged by Olivecrona, his diagnostic neuroradiology became of superior quality. In the early 1930's, utilizing technical innovations of his own, Lysholm became a master at demonstrating and localizing posterior fossa tumors, which Olivecrona then operated on. Olivecrona's clinic became the mecca to which many scholars, thirsting for more knowledge, went on a pilgrimage. The international reputation of the clinic was founded, not on epoch-making discoveries, but by the resolute and practical application of methods already launched elsewhere and the exemplary organization that Olivecrona had established in collaboration with Lysholm. In spite of hardships and primitive working conditions, the clinic at the Serafimer Hospital gradually developed into the ideal prototype for a modern neurosurgical department. Olivecrona trained many colorful personalities who later were to lay the foundation for neurosurgery in their home countries; these included Wilhelm Tönnis of Germany, Edvard Busch of Denmark, and Aarno Snellman of Finland. Olivecrona was a true pioneer who made major contributions in practically all fields of conventional neurosurgery.

Incorporating practical application in graduate introductory public health courses

2015 ◽  
Vol 23 (4) ◽  
pp. 309-322
Author(s):  
Jacey A. Greece ◽  
Joanne G. Patterson ◽  
Sarah A. Kensky ◽  
Kate Festa
Keyword(s):  
Public Health ◽  
Practical Application ◽  
Multiple Perspectives ◽  
Chi Square ◽  
Content Type ◽  
Master Of Public Health ◽  
Course Content ◽  
Course Assessment ◽  
Post Test ◽  
Competency Based

Purpose – The purpose of this paper is to examine the utility of a redesigned course assessment in a required, introductory Master of Public Health (MPH) course to demonstrate competency achievement through practical application. School of public health curricula are informed by competency-based education (CBE) to prepare students for the field. This is a challenge in introductory courses as traditional assessments do not translate into practical application of knowledge. Design/methodology/approach – This retrospective post-test-only evaluation examined a practice-based, multi-disciplinary assessment utilized in Fall 2014 (n = 63 students). Web-based surveys were administered three months after the course to participating students (n = 33), the teaching team or teaching teams (n = 7) and organization representatives (n = 3) to evaluate the utility of the assessment. Questions were analyzed descriptively using chi-square tests, where applicable responses were compared across groups. Findings – Results indicate that a practice-based assessment in an introductory MPH course may enhance student learning by fostering deeper appreciation and application of course content while more closely reflecting the collaborative, multi-disciplinary and problem-solving nature of practice. The assessment may also increase the depth of competency achievement and career preparedness. Practical implications – Institutions that are guided by CBE, train students for multi-disciplinary practice and are impacted by the changing landscape of the field may want to consider course assessments that mimic practice to best prepare students. Originality/value – Course assessments should be evaluated to ensure they appropriately measure competency achievement. This evaluation provides multiple perspectives on the process and outcome of a practice-based course assessment.

Correlates of academic misconduct and CSR proclivity of students

2014 ◽  
Vol 6 (1) ◽  
pp. 128-148 ◽  
Author(s):  
Stephen K. Nkundabanyanga ◽  
Charles Omagor ◽  
Irene Nalukenge
Keyword(s):  
Structural Equation ◽  
Statistical Modelling ◽  
Error Variance ◽  
Academic Misconduct ◽  
Fraud Triangle ◽  
Cross Sectional ◽  
Content Type ◽  
Quantitative Results ◽  
Corporate Social

Purpose – The purpose of this paper is to examine the effect of the fraud triangle, Machiavellianism, academic misconduct and corporate social responsibility (CSR) proclivity of students. Design/methodology/approach – The present study surveyed 471 university students. The study was cross-sectional and employed structural equation modelling in statistical modelling. Findings – The study provides evidence that perceived opportunity to cheat in examinations is the single most important factor accounting for significant variations in rationalization and academic misconduct. Similarly, low Machiavellians significantly get inclined to CSR ideals. The fraud triangle alone accounts for 36 per cent of the variations in academic misconduct, hence the error variance is 64 per cent of academic misconduct itself. This error variance increases to 78 per cent when a combination of perceived opportunity, rationalization, Machiavellianism is considered. Moreover, both Machiavellianism and academic misconduct account for 17 per cent of variations in students’ proclivity to CSR ideals. Research limitations/implications – Results imply that creating a setting that significantly increases a student's anticipated negative affect from academic misconduct, or effectively impedes rationalization ex ante, might prevent some students from academic misconduct in the first place and then they will become good African corporate citizens. Nevertheless, although the unit of analysis was students, these were from a single university – something akin to a case study. The quantitative results should therefore be interpreted with this shortcoming in mind. Originality/value – This paper contributes to the search for predictors of academic misconduct in the African setting and as a corollary, for a theory explaining academic misconduct. Those students perceiving opportunity to cheat in examinations are also able to rationalize and hence engage in academic misconduct. This rationalization is enhanced or reduced through Machiavellianism.

Assets-based approaches to developing age friendly communities: learning from the bristol ageing better programme

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amy Beardmore ◽  
Penny Beynon ◽  
Christine Crabbe ◽  
Carol Fry ◽  
Jan Fullforth ◽  
...  
Keyword(s):  
Community Development ◽  
Older People ◽  
Production Method ◽  
Project Delivery ◽  
Development Projects ◽  
Practical Application ◽  
Content Type ◽  
Diverse Groups ◽  
Practical Implications

Purpose International attention is increasingly turning to the challenge of creating age-friendly environments. This study aims to examine the application of asset-based approaches in undertaking community development projects with older people. The paper intends to share the learning that may be useful when designing community development projects for older people in the future. Design/methodology/approach This study followed a multiple project case study design, with a focus on project delivery practices. It was undertaken as a co-production exercise involving university researchers and trained older volunteer community researchers (CRs). Over 18–24 months of qualitative research was conducted in relation to six area-based urban projects between 2018 and 2020. Findings There were five leading themes as follows: mapping and building on assets in highly localised settings; creating governance and direction through steering groups; developing activities with diverse groups of older people; reaching isolated and lonely older people; building local capacity to embed sustainability. Practical implications The effectiveness of assets-based approaches in promoting age-friendly agendas appears to be contingent on the values, skills, capacity and resourcing of delivery agencies, alongside wider public sector investment in communities. Diversity and inequalities amongst older people need to be taken into account and community development that specifically focuses on older people needs to be balanced with the whole population and intergenerational practice. Originality/value This paper provides an empirical account of the practical application of assets practices specifically in the context of the age-friendly community agenda. The co-production method brings together insights from academic and volunteer older CRs.

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