scholarly journals The R^2 and the Seven Events in Hong Kong: A New Look at Return Synchronicity and Price Efficiency

2018 ◽  
Author(s):  
Jinghan Cai ◽  
Fengyun Li ◽  
Iordanis Petsas
Keyword(s):  
Hong Kong ◽  
Event Study ◽  
Difference In Difference ◽  
Price Efficiency ◽  
Standard Difference ◽  
Alternative Methodology ◽  
The Relationship ◽  
Study Setting ◽  
Traditional Understanding ◽  
New Look

This paper identifies a dilemma in the relationship between R^2 and price efficiency: After comprehensively studying the R^2 change around 7 well-known corporate events, neither the traditional understanding of R^2 as price inefficiency, nor the behavioral way of R^2 as price efficiency can explain the observed R^2 change around the events. We adopt an alternative methodology to replace the standard difference-in-difference regression and directly decompose the R^2 change. We find that, due to the endogeneity of events, the changes of R^2 are over-estimated. We further propose that in the event study setting, the R^2 change may be simply the consequence of the inflow/outflow of some trend-chasing investors, and it may be detached from price (in) efficiency. Empirical evidences are consistent with this hypothesis.

Foreign Media Exposure and Perceptions of Americans in Hong Kong, Shenzhen, and Singapore

1997 ◽  
Vol 74 (4) ◽  
pp. 738-756 ◽  
Author(s):  
Lars Willnat ◽  
Zhou He ◽  
Hao Xiaoming
Keyword(s):  
Hong Kong ◽  
Cultural Context ◽  
Media Exposure ◽  
Media Impact ◽  
Local Media ◽  
The Media ◽  
Foreign Media ◽  
Media Channels ◽  
The Impact ◽  
The Relationship

This study examines the relationship between foreign media exposure and stereotypical perceptions of and feelings toward Americans in Hong Kong, Shenzhen (China), and Singapore. In line with previous studies, it finds that foreign TV consumption is related to negative stereotypical perceptions of and feelings toward Americans among all tested subjects. However, it also finds that different types of foreign media, such as newspaper, radio, video, and movies, exhibit very distinct and different relationships with perceptions of Americans by subjects from China and Singapore. It suggests that in studies of foreign media impact, attention should be given to specific foreign media channels, the actual content of the media, the impact of local media, the stages at which other cultures encounter the Western culture, and the cultural context of each society.

A community-based study of the relationship between somatic and psychological distress in Hong Kong

2015 ◽  
Vol 52 (5) ◽  
pp. 594-615 ◽  
Author(s):  
Sing Lee ◽  
Candi MC Leung ◽  
Kathleen PS Kwok ◽  
King Lam Ng
Keyword(s):  
Hong Kong ◽  
Psychological Distress ◽  
Community Based ◽  
The Relationship

A cost evaluation model for IoT-enabled prefabricated construction supply chain management

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wennan Zhang ◽  
Kai Kang ◽  
Ray Y. Zhong
Keyword(s):  
Hong Kong ◽  
Supply Chain ◽  
Input Data ◽  
Evaluation Model ◽  
Construction Cost ◽  
Influential Factors ◽  
System Boundary ◽  
Supply Chain System ◽  
Content Type ◽  
The Relationship

PurposeThis paper proposes an evaluation model for prefabricated construction to guide a supply chain with controllable costs. Prefabricated construction is prevalent due to area limitations. Nevertheless, the development is limited by budget control and identifying the factors affecting cost. The degree of close collaboration in the supply chain is closely interconnected with cost performance that includes direct and indirect factors. This paper not only quantizes these factors but also distinguishes the degree of influence of various factors.Design/methodology/approachSystem dynamics is applied to simulate and analyze the construction cost factors through Vensim software. It can also clarify the relationship between cost and other influencing factors. The input data are collected from an Internet of Things (IoT)-enabled system under a Building Information Modeling (BIM) system and Hong Kong government reports.FindingsSimulation results indicate that prefabricated construction cost is mainly influenced by government promotion degree (GPD), working pressure from on-site construction (WPOSC), prefab quality (PQ), load-bearing capacity per vehicle (LBPV) and mold quality (MQ). However, it is more sensitive toward GPD, which indicates that the government should take measures to promote this construction technology. On-site worker management is also essential for the assembly process and indirectly influences the construction cost.Research limitations/implicationsThis paper quantifies indirect influential factors to clarify the specific features for prefabricated construction. The investigated factors are limited.Practical implicationsThe contractor can identify all factors and classify the levels of influence to make decisions under the supply chain system boundary.Social implicationsThe input data are collected from an IoT-enabled system under a BIM system and Hong Kong government reports. Thus, the relationship between construction cost influential factors can be investigated.Originality/valueThis paper quantifies indirect influencing factors and clarifies the specific features in prefabricated construction. The contractor could identify these factors to make decisions and classify the levels of influence under the supply chain system boundary.

How does reverse factoring affect operating performance? An event study of Chinese manufacturing firms

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yongyi Shou ◽  
Jinan Shao ◽  
Weijiao Wang
Keyword(s):  
Event Study ◽  
Cost Efficiency ◽  
Operating Performance ◽  
Manufacturing Firms ◽  
Content Type ◽  
Performance Effect ◽  
Study Results ◽  
Operating Margin ◽  
The Impact ◽  
The Relationship

PurposeAs a popular supply chain finance (SCF) strategy, reverse factoring has been widely adopted by buyer firms. However, the extant literature provides scant empirical evidence on the performance effect of reverse factoring. The purpose of this study is to seek to narrow this gap by empirically examining the relationship between reverse factoring and operating performance and the contingency conditions of this relationship.Design/methodology/approachBased on a sample of 167 announcements of reverse factoring implementation made by publicly listed Chinese manufacturing firms between 2014 and 2018, this paper employs a long-term event study approach to analyze the operating performance effect of reverse factoring as well as the moderating effects of production and innovation capabilities.FindingsThe event study results indicate that reverse factoring has a positive effect on buyer firms' operating performance in terms of cost efficiency and operating margin. In addition, both production and innovation capabilities positively moderate the relationship between reverse factoring and operating margin. However, neither of them moderates the relationship between reverse factoring and cost efficiency.Originality/valueThis is the first study that empirically examines the impact of reverse factoring on operating performance based on secondary data. Furthermore, it sheds light on the SCF literature by providing insights into the contingency effects of production and innovation capabilities, which also extends our understanding of the application of extended resource-based view in SCF research.

scholarly journals Daily Players’ Satisfaction with Pitching Performance Could Predict Shoulder and Elbow Injuries in High-school Baseball Pitchers: A Prospective Time-to-event Study

2021 ◽  
Author(s):  
Hitoshi Shitara ◽  
Tsuyoshi Tajika ◽  
Takuro Kuboi ◽  
Tsuyoshi Ichinose ◽  
Tsuyoshi Sasaki ◽  
...  
Keyword(s):  
High School ◽  
Event Study ◽  
Operating Characteristics ◽  
Time To Event ◽  
Elbow Injury ◽  
Shoulder Range Of Motion ◽  
Elbow Injuries ◽  
Characteristics Analysis ◽  
Baseball Pitchers ◽  
The Relationship

Abstract The relationship between baseball pitchers’ satisfaction with their own performance and the incidence of shoulder and elbow injuries is unclear. We analyzed the relationship between daily satisfaction scores before injury and incidence of shoulder/elbow injury in high-school baseball pitchers in this prospective, time-to-event study. We collected baseline data on baseball experience, height, weight, elbow and shoulder range of motion, and shoulder muscle strength. The 108 enrolled participants aged 15-17 years were divided into satisfied (88) and unsatisfied (22) groups based on the Receiver operating characteristics analysis results that revealed the cutoff value to be 4 points. The incidence of injury was 10.2% and 50.0% in the satisfied and unsatisfied groups, respectively. We observed that high-school baseball pitchers with a low satisfaction significantly increased the risk of shoulder and elbow injuries: these players had a 7.3-times greater risk of injuries and a 1.9-times earlier occurrence of injuries than pitchers who are satisfied with their performance. High-school baseball pitchers who had low satisfaction with their pitching performance had higher risk of shoulder and elbow injuries and lower time to injury than satisfied pitchers. Daily evaluation of players’ self-satisfaction could predict shoulder and elbow injuries in high-school baseball pitchers.

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