{"title":"Major government customer and management earnings forecasts","authors":"Agnes C. S. Cheng, Wenli Huang, Shaojun Zhang","doi":"10.1186/s11782-020-00088-0","DOIUrl":"https://doi.org/10.1186/s11782-020-00088-0","url":null,"abstract":"","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":" ","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1186/s11782-020-00088-0","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44746526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ding Ding, Chong Guan, Calvin M. L. Chan, Wenting Liu
{"title":"Building stock market resilience through digital transformation: using Google trends to analyze the impact of COVID-19 pandemic","authors":"Ding Ding, Chong Guan, Calvin M. L. Chan, Wenting Liu","doi":"10.1186/s11782-020-00089-z","DOIUrl":"https://doi.org/10.1186/s11782-020-00089-z","url":null,"abstract":"As the 2019 novel coronavirus disease (COVID-19) pandemic rages globally, its impact has been felt in the stock markets around the world. Amidst the gloomy economic outlook, certain sectors seem to have survived better than others. This paper aims to investigate the sectors that have performed better even as market sentiment is affected by the pandemic. The daily closing stock prices of a total usable sample of 1,567 firms from 37 sectors are first analyzed using a combination of hierarchical clustering and shape-based distance (SBD) measures. Market sentiment is modeled from Google Trends on the COVID-19 pandemic. This is then analyzed against the time series of daily closing stock prices using augmented vector autoregression (VAR). The empirical results indicate that market sentiment towards the pandemic has significant effects on the stock prices of the sectors. Particularly, the stock price performance across sectors is differentiated by the level of the digital transformation of sectors, with those that are most digitally transformed, showing resilience towards negative market sentiment on the pandemic. This study contributes to the existing literature by incorporating search trends to analyze market sentiment, and by showing that digital transformation moderated the stock market resilience of firms against concern over the COVID-19 outbreak.","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"56 1","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138530876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do you respond sincerely? How sellers’ responses to online reviews affect customer relationship and repurchase intention","authors":"Xiaofei Li, Baolong Ma, Rubing Bai","doi":"10.1186/s11782-020-00086-2","DOIUrl":"https://doi.org/10.1186/s11782-020-00086-2","url":null,"abstract":"","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"14 1","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1186/s11782-020-00086-2","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65919880","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"On business cycle forecasting","authors":"Huiwen Lai, Eric C. Y. Ng","doi":"10.1186/s11782-020-00085-3","DOIUrl":"https://doi.org/10.1186/s11782-020-00085-3","url":null,"abstract":"We develop a recession forecasting framework using a less restrictive target variable and more flexible and inclusive specification than those used in the literature. The target variable captures the occurrence of a recession within a given future period rather than at a specific future point in time (widely used in the literature). The modeling specification combines an autoregressive Logit model capturing the autocorrelation of business cycles, a dynamic factor model encompassing many economic and financial variables, and a mixed data sampling regression incorporating common factors with mixed sampling frequencies. The model generates significantly more accurate forecasts for U.S. recessions with smaller forecast errors and stronger early signals for the turning points of business cycles than those generated by existing models.","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"16 1","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138530874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Shareholder internationality and importing activities of emerging market firms","authors":"Pei Wang, William Gonzalo Vega Salas","doi":"10.1186/s11782-020-00084-4","DOIUrl":"https://doi.org/10.1186/s11782-020-00084-4","url":null,"abstract":"In light of the increasing efforts made by emerging market firms to engage in international business through importing activities, identifying the characteristics that motivate importing business and contribute to its success is practically and theoretically meaningful. Drawing upon a knowledge-based view (KBV), we examine how the shareholder internationality affects a firm’s importing activities. We hypothesize that the shareholder internationality can facilitate a firm’s import initiation and contribute to the diversity of importing countries of origin. Moreover, the divergence of shareholders’ nationality backgrounds may hinder import initiation, but motivate importing from dispersed countries of origin during the import development process. A longitudinal analysis of Colombian firms supports our hypotheses.","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"30 1","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138530870","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mohammad Khalilzadeh, Laleh Katoueizadeh, Edmundas Kazimieras Zavadskas
{"title":"Risk identification and prioritization in banking projects of payment service provider companies: an empirical study","authors":"Mohammad Khalilzadeh, Laleh Katoueizadeh, Edmundas Kazimieras Zavadskas","doi":"10.1186/s11782-020-00083-5","DOIUrl":"https://doi.org/10.1186/s11782-020-00083-5","url":null,"abstract":"Identifying risks and prioritizing is important for payment service provider (PSP) companies to get banking projects and gain more market share. However, studies regarding the identification of risks and causal relationships are insufficient in the Iranian PSP industry and the industry is unique because of its characteristics. In this study, 30 experts involved with PSP companies are employed as the research sample. Eleven key risks and Forty-six sub-risks are also identified. Subsequently, the fuzzy decision-making trial and evaluation laboratory technique is applied to determine the effective and affected risks and the severity of their effects on each other. Finally, all risks are ranked. Due to the internal interrelationships of the main risks, the weight of each risk is calculated via the fuzzy analytic network process. As the second-level risks have no significant interrelationships, they are ranked via the fuzzy analytical hierarchy process. Moreover, the best-worst method is used to ensure that the obtained rankings are reliable. This study identifies the risks affecting the loss of banking projects and determines the impacts of these risks on each. A sensitivity analysis is then conducted on the weights of the criteria, and the results are compared.","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"184 1","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138530872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Deep learning in finance and banking: A literature review and classification","authors":"Jian Huang, J. Chai, Stella Cho","doi":"10.1186/s11782-020-00082-6","DOIUrl":"https://doi.org/10.1186/s11782-020-00082-6","url":null,"abstract":"","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"14 1","pages":"1-24"},"PeriodicalIF":4.5,"publicationDate":"2020-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1186/s11782-020-00082-6","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42382106","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How does the servant supervisor influence the employability of postgraduates? Exploring the mechanisms of self-efficacy and academic engagement","authors":"Lifeng Zhong, Zhichao Qian, Dongdong Wang","doi":"10.1186/s11782-020-00079-1","DOIUrl":"https://doi.org/10.1186/s11782-020-00079-1","url":null,"abstract":"","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":" ","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1186/s11782-020-00079-1","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48831648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Major government customer and management earnings forecasts","authors":"Agnes C. S. Cheng, Wenli Huang, Shaojun Zhang","doi":"10.2139/ssrn.3477672","DOIUrl":"https://doi.org/10.2139/ssrn.3477672","url":null,"abstract":"This paper examines whether customer base composition in the US, that is, whether a firm’s major customers are government entities or publicly traded companies, affects the properties of its management earnings forecasts (MEFs). Using a sample of 1168 MEFs from 1998 to 2014, we find that firms whose major customers are government entities (i.e., government suppliers) issue more precise and more accurate MEFs than firms whose major customers are public companies (i.e., corporate suppliers). Moreover, when managers disclose negative information to the market, earnings forecasts issued by government suppliers have greater price impact than those issued by corporate suppliers. Collectively, our empirical results suggest that having major government customers has a positive impact on the quality of MEFs.","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"14 1","pages":"1-20"},"PeriodicalIF":4.5,"publicationDate":"2020-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46028522","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Research on a stock-matching trading strategy based on bi-objective optimization","authors":"Haican Diao, Guoshan Liu, Zhuangming Zhu","doi":"10.1186/s11782-020-00076-4","DOIUrl":"https://doi.org/10.1186/s11782-020-00076-4","url":null,"abstract":"In recent years, with strict domestic financial supervision and other policy-oriented factors, some products are becoming increasingly restricted, including nonstandard products, bank-guaranteed wealth management products, and other products that can provide investors with a more stable income. Pairs trading, a type of stable strategy that has proved efficient in many financial markets worldwide, has become the focus of investors. Based on the traditional Gatev–Goetzmann–Rouwenhorst (GGR, Gatev et al., 2006) strategy, this paper proposes a stock-matching strategy based on bi-objective quadratic programming with quadratic constraints (BQQ) model. Under the condition of ensuring a long-term equilibrium between paired-stock prices, the volatility of stock spreads is increased as much as possible, improving the profitability of the strategy. To verify the effectiveness of the strategy, we use the natural logs of the daily stock market indices in Shanghai. The GGR model and the BQQ model proposed in this paper are back-tested and compared. The results show that the BQQ model can achieve a higher rate of returns.","PeriodicalId":54175,"journal":{"name":"Frontiers of Business Research in China","volume":"51 7","pages":""},"PeriodicalIF":4.5,"publicationDate":"2020-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138509083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}