Article
Environmental Studies
Yu Xia
Summary: Environmental sustainability and a green approach are being emphasized to mitigate the negative impacts of resource depletion and contamination on businesses. This study examines the relationship between China's stock markets and their reliance on natural resources. Data from the Chinese stock market, Development Bank, and World Bank were analyzed using the Autoregressive Distributed Lag (ARDL) model from 1980 to 2015. The ARDL limit test reveals a significant and direct relationship between the variables. The findings suggest that the stock market values and capitalization have a straightforward connection with the dependence on natural resources. This study offers a fresh perspective on China's economic and ecological strategies.
Article
Business, Finance
Chenjiang Bai, Yuejiao Duan, Xiaoyun Fan, Shuai Tang
Summary: Using 1,287,932 pieces of textual data from news media, this study measures global financial market sentiment and examines its impact on stock returns during the COVID-19 pandemic. The results indicate that the worsening epidemic negatively affects the stock market, but increasing financial market sentiment boosts stock market returns, even in the midst of the pandemic. The findings are robust across different proxies and reveal that negative sentiment has a stronger influence on stock returns than positive sentiment.
FINANCE RESEARCH LETTERS
(2023)
Article
Public, Environmental & Occupational Health
Rong Zhang, Hao Ji, Yu Pang, Lingling Suo
Summary: This study explores the impact of COVID-19 on cultural industries from the perspective of stock market returns. The findings show that the pandemic has a significant negative impact on the stock market returns of cultural industries, but the degrees of impact vary across different creative sub-sectors. Digitalization can effectively reduce the negative impact of COVID-19 on cultural companies, and the epidemic has larger negative impacts on small and newly-established cultural companies.
FRONTIERS IN PUBLIC HEALTH
(2022)
Article
Management
Weihua Liu, Jingkun Wang, Fu Jia, Tsan-Ming Choi
Summary: This study explores the impact of blockchain announcements on enterprises' stock market value. The findings show that blockchain technical innovation announcements and strategic-level announcements elicit more positive market reactions, while enterprise characteristics do not affect stock market reactions to blockchain announcements.
INTERNATIONAL JOURNAL OF OPERATIONS & PRODUCTION MANAGEMENT
(2022)
Article
Business, Finance
Georges Tsafack, Ying Becker, Ki Han
Summary: This study examines the relationship between stock returns and return volatilities around earnings announcements. The findings suggest a positive earnings announcement premium, indicating a risk-return tradeoff. The study also shows that expected volatility is positively related to the announcement premium, while realized volatility is inversely related.
PACIFIC-BASIN FINANCE JOURNAL
(2023)
Article
Business, Finance
Hossein Asgharian, Lu Liu
Summary: This study uses spatial econometric techniques to model the spillover effect of daily idiosyncratic stock returns between competing firms. The findings show that the contagion effect from rival firms outweighs the competitive effect, and the net effect is stronger for negative return shocks of rival firms compared to positive ones. Moreover, the net effect is particularly prominent for firms operating in product markets with low concentration and high product market fluidity.
FINANCE RESEARCH LETTERS
(2022)
Article
Business, Finance
Wendai Lv, Jipeng Qi
Summary: This paper investigates the predictability of stock market returns based on traditional macroeconomic variables. The empirical results suggest that the mean combination forecast model outperforms other models in forecasting stock market returns, and its performance remains robust across different forecasting windows, market conditions, and multi-step-ahead forecasts. Importantly, the mean combination forecast consistently generates higher CER gains compared to other models, considering different investors' risk aversion coefficients and trading costs.
INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
(2022)
Article
Business, Finance
Yongan Xu, Chao Liang, Yan Li, Toan L. D. Huynh
Summary: This paper constructs a monthly news-based manager sentiment indicator based on the tone of managers' news reports, showing strong predictability for stock returns, especially in high sentiment periods. For investors, using this forecasting information to optimize stock portfolios can generate significant economic value.
FINANCE RESEARCH LETTERS
(2022)
Article
Management
Weihua Liu, Xinyun Liu, Tsan-Ming Choi
Summary: This study explores the impact of supply chain quality event (SCQE) announcements on enterprises' stock market value. The findings show that these announcements have a negative impact on shareholder value. The market reaction is moderated by supply chain network structure and firm-level characteristics. This study fills the research gap on the impact of SCQE announcements on stock market value and provides guidance for managers.
INTERNATIONAL JOURNAL OF OPERATIONS & PRODUCTION MANAGEMENT
(2023)
Article
Business, Finance
Diego Amaya, Renata Herrerias, Fernando Perez, Aurelio Vasquez
Summary: This paper decomposes traditional betas into semibetas based on the signed covariation between individual stock returns in an international market and the returns of three risk factors: local, global, and foreign exchange. Using high-frequency data, the authors empirically assess the comovement of stock returns with these three risk factors and find novel relationships between them and future returns. The analysis demonstrates that only semibetas derived from negative risk factors and stock return downturns command significant risk premia. Global downside risk is negatively priced in the international market, while local downside risk is positively priced.
FINANCE RESEARCH LETTERS
(2023)
Article
Business, Finance
Chwee-Ming Tee, Wai-Yan Wong, Chee-Wooi Hooy
Summary: Drawing from recent studies, this study examines the reactions of global stock markets to sanctions at the beginning of the Russia-Ukraine war. Using event study methodology, the study finds that investors assign higher valuation to firms located in countries that impose sanctions on Russia, especially those politically connected or located in countries with lower geopolitical risks.
FINANCE RESEARCH LETTERS
(2023)
Article
Environmental Sciences
Yousaf Latif, Ge Shunqi, Shahid Bashir, Wasim Iqbal, Salman Ali, Muhammad Ramzan
Summary: This research examined the impact of COVID-19 on major stock exchanges worldwide and the empirical relationship between the COVID-19 pandemic and stock market volatility. Findings indicated that during the pandemic, both stock market performance and GDP growth significantly decreased. A 1% increase in COVID-19 cases resulted in a 0.8% and 0.56% decline in stock returns and GDP respectively.
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
(2021)
Article
Thermodynamics
Yilin Ma, Yudong Wang, Weizhong Wang, Chong Zhang
Summary: This paper explores the use of return and volatility prediction to improve energy portfolio models, using extreme gradient boosting regression trees. Six classical portfolio models are tested, and the results show that using return and volatility prediction significantly enhances these models' performance. Prediction-based weights are also found to be more effective in transforming multiple objectives compared to equal weights. The CVaR-F-PW portfolio performs the best and is recommended for energy stock market portfolio management.
Article
Engineering, Industrial
Xinrui Zhan, Yinping Mu, Manpreet Hora, Vinod R. Singhal
Summary: Service excellence is associated with firm performance and shareholder value. Winning service awards can lead to positive market reactions, but reactions depend on prior performance and firm size. Industry competitiveness also influences market reactions.
INTERNATIONAL JOURNAL OF PRODUCTION RESEARCH
(2021)
Article
Business, Finance
Zhenzhen Fan, Xiao Xiao, Hao Zhou
Summary: This study examines the predictive power of option-implied moment risk premia and finds that different moments have different effects on market returns. Combining higher-moment risk premia with the second-moment risk premia improves the predictability of stock returns.
JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS
(2022)
Article
Engineering, Industrial
Hiroshi Matsuhisa, Nobuo Matsubayashi
Summary: This study investigates the formation of an alliance between competing manufacturers and a monopolistic platform retailer, and analyzes the impact of the degree of differentiation among manufacturers on the formation of the alliance and the profitability of the retailer.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Lingxuan Kong, Ge Zheng, Alexandra Brintrup
Summary: Supply Chain Financing is used to optimize cash flows in supply networks, but recent scandals have shown inefficiencies in risk evaluation. This paper proposes a Federated Learning framework to address order-level risk evaluation.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Jing Gu, Xinyu Shi, Junyao Wang, Xun Xu
Summary: The asymmetric market power between a firm and its partners negatively affects the firm's financial performance. Building relationships with suppliers or customers that have matched market power is the best approach. The strength of the buyer-supplier relationship amplifies the negative impact of asymmetric market power, while the level of relationship embeddedness reduces its negative effect. Moreover, firm-specific institutional, industry, and regional economic heterogeneities also influence the financial impact of asymmetric market power.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Yu Du, Jun-qing Li
Summary: This study investigates the group scheduling of a distributed flexible job shop problem using the concrete precast process. The proposed solution utilizes three coordinated double deep Q-networks (DQN) as a learn-to-improve reinforcement learning approach. The algorithm shows superiority in minimizing costs and energy consumption.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Xiaoyu Yan, Weihua Liu, Ou Tang, Jiahe Hou
Summary: This study analyzes the market amplification effect and the impact of entrant's overconfidence on a two-sided platform. The results show that overconfident entrants can lead to price increases and benefit both the existing firms and themselves to a certain extent.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Illya Kaynov, Marijn van Knippenberg, Vlado Menkovski, Albert van Breemen, Willem van Jaarsveld
Summary: The One-Warehouse Multi-Retailer (OWMR) system is a typical distribution and inventory system. Previous research has focused on heuristic reordering and allocation strategies, which are time-consuming and problem-specific. This paper proposes a Deep Reinforcement Learning (DRL) algorithm for OWMR problems, which infers a multi-discrete action distribution and improves performance with a random rationing policy.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Yimeng Sun, Ruozhen Qiu, Minghe Sun
Summary: This study considers a multi-period inventory management problem for a retailer offering limited-time discounts and having a joint service-level requirement under demand uncertainty. It proposes a double-layer iterative approach to solve the problem and maximize total profit while balancing the service level using a posteriori method and an affinely adjustable robust chance-constrained model.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Anas Neumann, Adnene Hajji, Monia Rekik, Robert Pellerin
Summary: This paper presents a new mathematical formulation for planning and scheduling activities of Engineer-To-Order (ETO) projects, along with a new ETO strategy to reduce the impacts of design uncertainty. The study proposes a hybrid Layered Genetic Algorithm combined with an adaptive Lamarckian learning process (LLGA) and compares it with the branch-and-cut procedure of CPLEX. The results show good performance of the proposed mathematical model for small and medium-sized instances.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Thilini Ranasinghe, Chanaka D. Senanayake, Eric H. Grosse
Summary: Production systems are undergoing transformative changes, necessitating adaptability from human workers. This study developed an analytical model to account for stochastic processing times and learning heterogeneity, revealing insights into system performance.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Sunil Tiwari, Pankaj Sharma, Ashish Kumar Jha
Summary: Black Swan events such as the COVID-19 pandemic and the Suez Canal blockage have a significant impact on firms' technology adoption decisions, especially in terms of disruptions and digitalization in the supply chains. This study investigates the influence of institutional forces and environmental contingencies on supply chain digitalization from an institutional and contingency theory perspective. The findings emphasize the importance of organizational readiness and people readiness, including top management involvement and employee training, in facilitating digitalization.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Fabio Neves-Moreira, Pedro Amorim
Summary: Omnichannel retailers are using stores as distribution centers to provide faster online order fulfillment services. However, in-store picking operations can impact the offline customer experience. To address this, we propose a Dynamic In-store Picker Routing Problem (diPRP) that minimizes customer encounters while fulfilling online orders. Our solution approach combines mathematical programming and reinforcement learning to find efficient picking policies that reduce customer encounters.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Article
Engineering, Industrial
Richard Kraude, Ram Narasimhan
Summary: In this study, the relationship between Vertical Integration (VI) and Environmental Performance (EP) is examined, revealing that highly integrated firms produce less waste but engage in fewer environmental initiatives. These findings are crucial for understanding the impact of stakeholder exposure on organizational behavior.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)
Review
Engineering, Industrial
Korina Katsaliaki, Sameer Kumar, Vasilis Loulos
Summary: This research conducts a systematic literature review (SLR) and content analysis on Supply Chain Coopetition (SCC) through the PRISMA framework. It examines the theory of coopetition and organizational relationships in intra-firm and inter-firm supply chains, focusing on collaboration between rival manufacturers. The study identifies structures and mechanisms of coopetition, such as buyer-supplier coopetition, supply networks coopetition, and production and distribution/logistics coopetition. It provides a holistic approach to SCC management practices and serves as a guide for future research.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2024)