Handelsblatt Ranking and Journal Quality: A Cautionary Note

I provide a brief discussion of the Handelsblatt ranking by focusing on its journal quality weights. I summarize the methodology underlying journals’ prestige measure, which is derived from their citation networks, and discuss its strengths and shortcomings. Although I agree that Handelsblatt ranking provides a great service to the profession, that same profession needs to be rather careful not to overemphasize the journal quality weights.     

数字图像融合综述

本文对数字图像融合的主要研究内容和方向做了一个简单综述,并介绍了几种典型的数字图像融合理论与方法。     

The relevance of information and trading costs in explaining momentum profits: Evidence from optioned and non-optioned stocks

Considerable evidence from many countries suggests momentum strategies generate profits. These have been difficult to rationalise and evidence on the sources of such profitability is inconclusive. We utilise a sample of optioned stocks, characterised by high liquidity, high market capitalisation and fewer short sales constraints and compare results with control samples of non optioned stocks chosen on the basis of market value, turnover and bid–ask spread. The sample characteristics, and the fact that derivatives improve the impounding of information into prices, enable us to draw conclusions about the causes of momentum profits. While we find that short sales constraints are not the major driver of profitability and that most momentum profits disappear using two transactions costs measures of the bid–ask spread, one not previously used, the persistence of some momentum profits indicates that the market underreacts even to the most publicly available information.     

Update rules for convex risk measures

In the first part of the paper we investigate the properties that describe the intertemporal structure of dynamic convex risk measures. The usual backward approach to dynamic risk assessment leads to strong and weak versions of time consistency. As an alternative, we introduce a forward approach of consecutivity. In the second part we discuss the problem of how to update a convex risk measure when new information arrives. We analyse to what extent the above properties are appropriate update criteria.     

硅谷巨头的王储之战

MarketWatch近日撰文称,一位关键先生从英特尔跳槽到了EMC,表面看来,这只是人才的流动,但是实际上,这却彰显了两家科技巨头正在采取的一致行动,达尔文主义的戏份正在那里上演,而这戏剧的结局将确定谁会登上他们各自的最高宝座。     

图像增强基本理论综述

图像增强是数字图像处理的最基本的方法之一,本文总结了图像增强的基本理论,并对新的图像增强的方法作了简单介绍。     

Segmentation of German Consumers Based on Perceived Dimensions of Luxury Food

Recent trends in the German food sector have shifted and segmented consumer consumption motives toward indulgence, quality, and sustainability. Simultaneously, in Western countries there has been a change in luxury consumption motives, shifting emphasis to hedonism, self-actualization, and quality instead of prestige. These parallel developments give rise to the question of how food is related to luxury. This study investigates the perceived dimensions of luxury food and outlines a number of segmented consumer groups based on these dimensions. By means of principal component and cluster analyes, seven dimensions were revealed, which generated four consumer segments. Six of the perceived dimensions of luxury food correspond to those that are found within general luxury goods and services. Sustainability and authenticity form a further dimension, mirroring new luxury values. In the cluster analysis, two segments can be identified as target groups for classic premium foods, whereby one group is predominated by new luxury values and the other is expected to buy lower-quality food.     

The impact of sustainability (environmental,social, and governance) disclosure and board diversity on firm value: The moderating role of industry sensitivity

Using a large panel data set comprising 812 listed European firms, this study investigates whether sustainability disclosure (environmental, social, and governance) and female representation on boards affect firm value. We observe a positive impact of sustainability disclosure and board gender diversity on firm value, suggesting that the best management practices, enhanced stakeholder trust, and female representation on boards improve firm value. We observe that the firms in sensitive industries achieve superior social and governance performance. We also observe that the firms with higher female representation on their boards present significantly superior environmental, social, and governance performance. Our results are robust to different firm and country specific control variables and to year‐ and country‐fixed effects.     

Analysis of the effects of visibility and warning devices on driver injury severity at highway-rail grade crossings considering temporal transferability of data

Abstract

This study explores the joint effect of visibility and warning devices on driver injury severity at the highway-rail grade crossings (HRGCs), while also considering other contributing factors. For this purpose, four mixed logit models are developed to estimate the determinants of driver injury severity considering the combinations of visibility conditions (daylight vs. no daylight) and type of warning devices (active vs. passive warning). The models were calibrated using the data obtained from the USDOT Federal Railroad Administration for HRGC crashes that occurred over a ten-year period 2008–2017 Federal Railroad Administration (FRA) Office of Safety Analysis. (2017). Accident data as reported by railroads. Retrieved July, 2018, from https://safetydata.fra.dot.gov/OfficeofSafety/publicsite/on_the_fly_download.aspx [Google Scholar] across the United States. A temporal transferability test was conducted and confirmed the stability of model specifications considering a ten-year span of collected data. The pseudo-elasticity analysis was conducted to ascertain marginal impact of the contributing factors on driver injury severity in each model. While the vehicle speed, train speed, time of day and driver age are found to be common significant factors among the four models, there are marked differences between parameters associated with various crash factors. The study provides new insight into the driver injury severity in train-vehicle collisions considering visibility and type of warning devices, which can help in setting up proper policies to improve safety at HRGCs.