Trading activity and price discovery in Bitcoin futures markets

This study examines the impact of trading activities on price discovery in the Bitcoin futures markets. We find that trades of hedgers are positively correlated with the modified information shares in both CME and CBOE futures markets, suggesting that their trading promotes futures market efficiency. Retailers’ trading activity relates negatively to the price discovery of the CME Bitcoin futures and thus destabilizes the market. Speculators exert positive (negative) impact on the price discovery in the CME (CBOE) Bitcoin futures. Our finding that CME’s Bitcoin futures exhibit superior price discovery than CBOE’s provides plausible justification for CBOE’s decision in March 2019 to suspend further listings of Bitcoin futures contracts.     

智慧居家养老服务协同供给的优化路径研究——以广西钦州市智慧居家养老项目的实践经验为例

智慧居家养老服务的协同供给可以形成社会联动效应，降低公共服务成本。运用公共服务协同供给分析框架，通过交叉分类方法从协同主体的利益与目标两个变量的耦合性出发分析广西钦州市智慧居家养老项目中养老服务主体间不同种类的协同关系，可以从加强政府领导、形成合作联盟、建立市场标准、创新扶持政策4个方面完善政府、企业、社会组织之间不同类型的协同供给，实现社会资源的高效利用以及向智慧居家养老服务的发展和转变。     

Obstacles and solutions on the ladder of citizen participation: a systematic review

This article presents a systematic review of the English-language empirical literature about citizen participation to identify the obstacles to its implementation and the most successful ways to address them. Three sets of variables seem to impact effectiveness: contextual factors, including information asymmetries and public officials’ attitude; organizational arrangements, including community representation criteria and process design; and process management patterns, including group dynamics and collaboration quality. Two recommendations stem from our analysis: internalize decisions in organizational procedures, and establish ongoing interactions between government bodies and their stakeholders. We conclude that half-hearted engagement is unlikely to lead to successful citizen participation.     

区域创新方法支撑企业创新活动模式研究——以宁夏为例

在企业创新动力和企业创新机理分析的基础上，从创新方法支撑企业创新活动的角度，重点分析了资金、人才、制度三种创新要素和学习能力、创新管理能力、生产能力和营销能力四种能力如何应用创新方法予以整合和提升。并以宁夏为例，系统阐述区域创新方法支撑企业创新活动的实践路径，提出深化区域创新方法应用推广，支撑企业创新活动的建议，为我国区域创新方法应用推广工作提供参考与借鉴。     

Real-time co-creation and nowness service: lessons from tourism and hospitality

Brands take advantage of technology, social media and constant connectivity to foster organic consumer engagement and interactions towards co-creating personalised customer service. Real-time service offers dynamic engagement with connected consumers. Brands in tourism and hospitality use technology to dynamically enhance consumer experience through co-creation. The integration of real-time consumer intelligence, dynamic big data mining, artificial intelligence, and contextualisation can transform service co-creation by mobilising recourses in the ecosystem. Nowness service emerges by dynamically engaging consumers in experience cocreation in real time. It has five interconnected characteristics that revolutionise the tourism and hospitality, namely: real-time, co-creation, data-driven, consumer-centric and experience co-creation.     

Firm financing and growth in the Arab region

This paper documents how firms in Arab countries use equity, corporate bond and syndicated loan markets to obtain financing and grow. Working with a new dataset on issuance activity in domestic and international markets and firm performance, the paper finds that capital raising through these markets has grown rapidly since the early 1990s and involved an increasing number of firms. Whereas the amounts raised in equity and loan markets (relative to gross domestic product) stand well relative to international standards, bond issuance activity lags behind. However, bond financing has gained importance over time. Equity issuances take place primarily in domestic markets, whereas bonds and loans are mostly issued internationally, display long maturities and entail low levels of credit risk. Issuing firms from the Arab region are very large compared to international standards. They also tend to be larger, faster growing and more leveraged than non-issuing firms in Arab countries.     

Technologies in caregiving: professionals’ strategies for engaging with new technology

This article explores the adoption of new technology in organisations that provide senior citizen care. Inspired by Niklas Luhmann’s systems theory, we study how technology reduces complexity by identifying client needs and ensuring predictability in service delivery. However, how technologies are adopted in practice is not determined by technology since it is also structured by care-workers' continuous decision-making. Against this backdrop, we explore how technologies alter the conditions for decision-making in two settings of elderly care, and we describe how care workers seek to adapt technologies to their practical needs as well as conception of care ethics. Developing a systems theory approach, the article eschews a priori assumptions of technological constraint on care-workers’ professional autonomy, offering a more open-ended exploration of diversified strategies for coping with new technology. Our case studies show that employees develop diversified strategies for technology adoption, including both non-usage, heated resistance, excessive embrace, and creative adaption.     

Conceptualization of e-servicescapes in the fitness applications and wearable devices context: Multi-dimensions,consumer satisfaction,and behavioral intention

Based on the environmental psychology theory, this research conceptualizes and investigates the dimensions of e-servicescapes, and examines how each dimension influences fitness application and wearable device users’ emotions, satisfaction, and behavioral intention to continuously work out via the technology. This study employed three waves of surveys within the United States to collect data (N = 343), and conducted a path analysis to rigorously assess the proposed paths between identified constructs. The empirical findings revealed the significant determinants of negative emotion (i.e., usability, security, customization, entertainment value, interactivity, originality of design, relevance of information, and social factors) and positive emotion (i.e., usability, customization, entertainment value, interactivity, and relevance of information). Also, satisfaction was significantly impacted by both positive emotion and negative emotion, and behavioral intention was significantly influenced by positive emotion and satisfaction. Based on these findings, this study suggests theoretical (i.e., classification of the e-servicescape dimensionality and integration of the environmental psychology theory with the two-factor theory of motivation, focusing on a digital environment) and practical implications (i.e., ways to increase levels of consumer satisfaction with the technology and intention to continuously exercise with the technology) for scholars and practitioners in the fitness and mobile application/wearable device industries.     

A journey through the museum: Visit factors that prevent or further visitor satiation

Museums seek to provide visitors with memorable experiences. However, some visitors experience a hedonic decline and satiation after their visit. The present research aims to evaluate how the time spent, the route, and the anticipation of the visit might either prevent or further visitor satiation. A field study and a field experiment are performed. Findings reveal that spending more time in the museum and anticipating the content can increase the perceived satiation and diminish visitors' emotional response, although the attention level diminishes for short visits and when the content is not anticipated. In a real context, following a free route reduces perceived satiation, with visitors following a self-regulatory process and adapting the time spent to the level of satiation.