scholarly journals Measuring the effects of investor attention on China's stock returns

2021 ◽  
Vol 1 (4) ◽  
pp. 327-344
Author(s):  
Yi Chen ◽  
◽  
Zhehao Huang ◽  
Keyword(s):  
Stock Returns ◽  
Investor Attention ◽  
Replacement Method ◽  
High Quantiles ◽  
Turbulent Times ◽  
Market Search ◽  
The Mean ◽  
The Relationship ◽  
Role Of Information

<abstract> <p>The increasing abundance of information leads to the scarcity of investor attention, which has become an important factor affecting the financial market. Search engines play the role of information retrieval and record the search behavior of investors, which is a direct and accurate measure of investor attention. This paper investigates the relationship between investor attention and China's stock market. Considering the relationship with stock returns as the mainline, we take the Baidu index as a substitute variable of investor attention to deeply study the correlation and the time-varying nature between investor attention and China's stock returns. To this end, we used quantile regression to examine the relationship over the period 2006–2021 to capture its evolution during calm and turbulent times. We thus investigated the effect of investor attention on the mean and other quantiles. Our findings show that the relationship between investor attention and China's stock returns exhibits time-variation as investor attention significantly impacts the dynamics of China's stock returns, but its sign and effect vary per quantile: investor attention is negatively correlated with stock returns at low quantiles, but it turns positive at high quantiles. In addition, to test the model's robustness, variable replacement method and model replacement method are used to conduct significance tests, respectively. The results are equally significant.</p> </abstract>

Team Networks and Team Identification: The Role of Leader-Member Exchange

2013 ◽  
Vol 41 (7) ◽  
pp. 1115-1123 ◽  
Author(s):  
KeXin Guan ◽  
ZhengXue Luo ◽  
JiaXi Peng ◽  
Zhen Wang ◽  
HaiTing Sun ◽  
...  
Keyword(s):  
Social Exchange ◽  
Social Identity Theory ◽  
Social Exchange Theory ◽  
Team Identification ◽  
Leader Member Exchange ◽  
Exchange Relationships ◽  
Member Exchange ◽  
The Mean ◽  
The Relationship

We examined the relationship among team networks, leader-member exchange (LMX), and team identification in the workplace. Social network theory, social exchange theory, and social identity theory served as references for our theoretical propositions and analyses. We collected data from a sample of 223 teams of military personnel, serving in the artillery in West China. We found that the team networks had a significant effect on team identification. Further, the variance and the mean for LMX in teams interacted in influencing team identification (β =-.893, p < .01). Our findings indicated that creating productive networks in teams would be useful to enhance team identification, the effect of which may be carried on through to building exchange relationships between leader and follower.

Making an Impact Through Information Technology

2021 ◽  
Vol 3 (2) ◽  
pp. 14-23
Author(s):  
Mostafa Sayyadi Ghasabeh
Keyword(s):  
Information Technology ◽  
Transformational Leadership ◽  
Knowledge Management ◽  
Firm Performance ◽  
Positive Relationship ◽  
Review Of The Literature ◽  
Mediating Role ◽  
The Relationship ◽  
Role Of Information

This research contributes to the fields of knowledge management, transformational leadership, as well as information technology. This article presents the theoretical underpinnings of the framework together with a thorough review of the literature. This research indicates that there is a positive relationship between transformational leadership, knowledge management, and firm performance. The synthesis of the literature also lends support for the mediating role of information technology in the relationship between transformational leadership and knowledge management.

scholarly journals THE LUCK IN “TALENT VERSUS LUCK” MODELING

2020 ◽  
Vol 23 (03) ◽  
pp. 2050007
Author(s):  
SEAN ELVIDGE
Keyword(s):  
Mean Value ◽  
Maximum Amount ◽  
Random Numbers ◽  
Individual Parameter ◽  
Input Parameters ◽  
The Mean ◽  
Model Variability ◽  
The Impact ◽  
The Relationship

This paper further investigates the Talent versus Luck (TvL) model described by [Pluchino et al. Talent versus luck: The role of randomness in success and failure, Adv. Complex Syst. 21 (2018) 1850014] which models the relationship between ‘talent’ and ‘luck’ on the impact of an individuals career. It is shown that the model is very sensitive to both random sampling and the choice of value for the input parameters. Running the model repeatedly with the same set of input parameters gives a range of output values of over 50% of the mean value. The sensitivity of the inputs of the model is analyzed using a variance-based approach based upon generating Sobol sequences of quasi-random numbers. When using the model to look at the talent associated with an individual who has the maximum capital over a model run it has been shown that the choice for the standard deviation of the talent distribution contributes to 67% of the model variability. When investigating the maximum amount of capital returned by the model the probability of a lucky event at any given epoch has the largest impact on the model, almost three times more than any other individual parameter. Consequently, during the analysis of the model results one must keep in mind the impact that only small changes in the input parameters can have on the model output.

A new look at the meeting clustering effect

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ángel Pardo ◽  
Eddie Santandreu
Keyword(s):  
Stock Returns ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
Relevant Information ◽  
Investor Attention ◽  
Content Type ◽  
Potential Link ◽  
Clustering Effect ◽  
Trading Volumes ◽  
The Relationship

PurposeThe study aims to test the existence of a meeting clustering effect in the Spanish Stock Exchange (SSE).Design/methodology/approachThis paper studies the relationship between the clustering of annual general meetings and stock returns in the SSE. A multivariate analysis is carried out in order to analyse the relationship between monthly returns and the clustering of general meetings in the SSE.FindingsThe authors show that meeting clustering exists and that some months exhibit significant and positive additional returns related to the holding of ordinary or extraordinary general meetings.Research limitations/implicationsThe authors have explored some possible explanations for the meeting clustering effect, such as a potential link with the “Halloween” effect or the presence of higher-than-normal levels of volatility, trading volumes or investor attention. However, none of these can explain the meeting clustering effect that emerges as a new anomaly in the SSE.Practical implicationsThe authors have documented significant and positive abnormal returns in some months that coincide with the holding of general meetings. Therefore, the holding of ordinary and/or extraordinary meetings in some months involves the release of relevant information for investors.Originality/valueThis study complements the financial literature because it is focused on the clustering of meetings and its effect on a stock market whose legal order is based on civil law. This fact allows us to shed new light on meeting clustering and its effect on other types of markets.

Information Systems for the Management of the Organizations

2018 ◽  
pp. 96-116
Author(s):  
José Rascão
Keyword(s):  
Decision Making ◽  
Information Systems ◽  
Information Management ◽  
Global Economy ◽  
Business Management ◽  
Key Concepts ◽  
Relationship Of ◽  
The Relationship ◽  
Role Of Information

This chapter investigates the key concepts of information systems, as well as the role of information in the information management activities, in terms of supporting decision making by different organizations' managers in the literature of information sciences and business sciences. The information has become, in the global economy, a source of value for organizations, assuming a key role in contributing to the development of the performance of the same. The relationship of information management with business management helps the process of decision making.

The Value of Information Systems to Small and Medium-Sized Enterprises

2011 ◽  
pp. 1639-1666 ◽  
Author(s):  
Susan J. Winter ◽  
Connie Marie Gaglio ◽  
Hari K. Rajagopalan
Keyword(s):  
Information Systems ◽  
Theory And Practice ◽  
Information And Communications Technology ◽  
Purchase Decisions ◽  
Communications Technology ◽  
Structured Interviews ◽  
The Relationship ◽  
Role Of Information ◽  
Customers Perspective

Small and medium-sized enterprises (SMEs) face more serious challenges to their survival than do larger firms. To succeed, SMEs must establish and maintain credibility in the marketplace to attract the resources required for survival. Most co-opt legitimacy by mimicking the cues that signal credibility to convince potential stakeholders that something stands behind their promises. This research examines the role of information and communications technology (ICT) in legitimacy-building from the perspective of both SME founders and customers. In-depth, semi-structured interviews were conducted in a variety of industries to determine whether the ICT-related legitimacy schema from the customers’ perspective differs substantially from that of firm founders. Results indicate that customers compare the ICT information provided in SME’s sales pitches to pre-existing ICT expectations about the nature of desirable sales transactions. We describe the relationship between violations of ICT expectations, legitimacy, and purchase decisions. Implications for theory and practice are discussed.

scholarly journals Leverage and firm investment: the role of information asymmetry and growth

2019 ◽  
Vol 27 (1) ◽  
pp. 56-73 ◽  
Author(s):  
Albert Danso ◽  
Theophilus Lartey ◽  
Samuel Fosu ◽  
Samuel Owusu-Agyei ◽  
Moshfique Uddin
Keyword(s):  
Information Asymmetry ◽  
High Growth ◽  
Firm Investment ◽  
Financial Leverage ◽  
Content Type ◽  
Growth Firms ◽  
The Impact ◽  
The Relationship ◽  
Role Of Information

PurposeThis paper aims to demonstrate how financial leverage impacts firm investment and the extent to which this relationship is conditional on the level of information asymmetry as well as growth.Design/methodology/approachThe paper relies on data from 2,403 Indian firms during the period 1995-2014, generating a total of 19,544 firm-year observations. Analysis is conducted by using various panel econometric techniques.FindingsDrawing insights from agency theories, the paper uncovers that financial leverage is negatively and significantly related to firm investment. It is also observed that the impact of financial leverage on firm investment is significant for high information asymmetric firms. Finally, the paper shows that the relationship between leverage and firm investment is significant for low-growth firms. However, no significant relationship is found between leverage and investment for high-growth firms.Originality/valueThis paper provides fresh evidence on the leverage–investment nexus and, to the authors’ knowledge, it the first paper to examine the extent to which this leverage–investment relationship is driven by the level of information asymmetry.

Hierarchical Organization as a Facilitator of Information Management in Human Collaboration

2009 ◽  
pp. 44-109 ◽  
Author(s):  
Khaled Ahmed Nagaty
Keyword(s):  
Information Processing ◽  
Problem Solving ◽  
Information Management ◽  
Structural Model ◽  
Hierarchical Organization ◽  
Team Collaboration ◽  
Management Processes ◽  
The Relationship ◽  
Role Of Information

The purpose of this chapter is to discuss the relationship between three entities: hierarchical organization, information management and human collaboration. This relationship is composed of two parts: the first part is the relationship between the hierarchical organization and information management where the role of the hierarchical organization to facilitate the information management processes is discussed. The second part is the relationship between information management and human collaboration where the role of information management to improve human collaboration in problem solving is discussed. The information management processes are illustrated through an information management life cycle model. This model has three major stages: active, semi-active and inactive stages and has three major phases: creation, searching and utilization phases. The creation phase includes: information creation and using, information authoring and modifying and information organization and indexing. The searching phase includes: information storage and retrieving and information exchange. The utilization phase includes: information accessing and filtering processes. The arguments about the role of hierarchical organization in information management and human collaboration are also discussed. The author showed that the hierarchical organization acts as a facilitator for common information management processes which are required in team collaboration such as: information gathering, organization, retrieving, filtering, exchange, integration or fusion, display and visualization. Human collaboration models are discussed with emphasis on the team collaboration structural model which has four unique but interdependent stages of team collaboration. These stages are: team knowledge construction, collaborative team problem solving, team consensus, and product evaluation and revision. Each stage has four levels: meta-cognition process which guides the overall problem solving process, the information processing tasks which is required by the team to complete each collaboration stage, the knowledge required to support the information processing tasks and the communication mechanisms for knowledge building and information processing. The author focused on the role of information management to improve human collaboration across the four collaboration stages of the team collaboration structural model. He showed that the hierarchical organization is more efficient for information management processes and team collaboration rather than other alternative organizations such as flat, linear and network organizations.

The Relationship Between Organizational Culture and Business Excellence

2016 ◽  
Vol 8 (3) ◽  
pp. 16-35 ◽  
Author(s):  
Rassel Kassem ◽  
Mian Ajmal ◽  
Mehmood Khan
Keyword(s):  
Organizational Culture ◽  
United Arab Emirates ◽  
Positive Relationship ◽  
Middle Managers ◽  
Information Communication ◽  
Business Excellence ◽  
The Relationship ◽  
Moderating Role ◽  
Role Of Information

The relationship between organizational culture (OC) and corporate performance was commonly studied and reflected in the literature in the last few years. However, the relationship between OC and business excellence is rarely tackled. In this context, this research examined the relationship between four OC types and organizational excellence and the role of information communication technology (ICT) as a moderator. A quantitative study was conducted, and the data were collected using a survey questionnaire distributed to middle managers in one of the gold winners of a United Arab Emirates-based business excellence award. The results showed that there is a positive relationship between organizational culture components and business excellence in general. A mission culture has the most significant relationship, in contrast, the adaptability culture had no positive relationship. Also, the moderating role of ICT was proven. The results of this research can be utilized by managers to build the OC type that boost excellence within their organizations.

Distribution of blood flow in normal and arthritic joints. Role of arteriovenous shunting studied in growing dogs

1992 ◽  
Vol 262 (1) ◽  
pp. H38-H46 ◽  
Author(s):  
E. Stender Hansen ◽  
S. Z. He ◽  
V. E. Hjortdal ◽  
D. Kjolseth ◽  
K. Soballe
Keyword(s):  
Blood Flow ◽  
General Anesthesia ◽  
Relative Distribution ◽  
Arteriovenous Shunting ◽  
Growth Plates ◽  
Absolute Flow ◽  
The Mean ◽  
The Relationship ◽  
Arthritic Joints

Juvenile dog knee with chronic carrageenin-induced arthritis was studied under general anesthesia with 15-microns and 50-microns-sized microspheres (MS) to compare the distribution of absolute and weight-standardized blood flow in normal and arthritic limbs and to localize possible sites of arteriovenous (AV) shunting. Arthritic joints had severe synovial and capsular hyperemia. Absolute as well as standardized blood flow was increased in juxta-articular epiphyses and patella. Shafts were atrophic and had decreased absolute flow but normal standardized flow. However, redistribution of blood flow occurred among regions within the shafts, e.g., in metaphyses away from growth plates. The mean nonentrapment of 15-microns MS was 13.8% in arthritic limbs and 4.2% in control limbs. The uptake of 50-microns MS was lower than that of 15-microns MS in all bony flow compartments due to differences in their rheologic behavior in larger arteries. The relative distribution of 50-microns MS and 15-microns MS varied considerably among regions within bone. Arthritis caused a net shift in the uptake of 50-microns MS relative to that of 15-microns MS from central to subchondral epiphyseal bone, evidencing precapillary vasodilation, but the relationship was strictly unchanged when bones were examined in toto. This result militates against the hypothesis of AV shunting in arthritic bone.

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