Applicability of the resource-based and dynamic-capability views under environmental volatility

This study uses a group of informants and applies a step-by-step empirical process to examine the applicability of the resource-based view (RBV) and dynamic-capability view (DCV) to environmental volatility. Through examining 253 Taiwanese firms, this study finds that the explanatory power of DCV exceeds that of RBV in volatile environments. Firms that possess dynamic capabilities can effectively enhance their competitive advantages, despite facing highly volatile environments. Nevertheless, the RBV is effective in some ways and firms with valuable, rare, inimitable, and nonsubstitutable resources still possess competitive advantages. This article closes with theoretical and practical implications.     

Spillover Effects among European,the US and Moroccan Stock Markets before and after the Global Financial Crisis

ABSTRACT

This paper assesses return and volatility spillovers among stock markets in Morocco, the US, UK, France and Germany represented respectively by MASI, S&P 500, FTSE 100, CAC 40 and DAX 30 indices, both before and after the global financial crisis (GFC) of 2008. The daily frequency data cover the period from January 2nd, 2002 to June 30th, 2016. Using the Diebold and Yilmaz approach, the results show varying financial connectedness between the Moroccan and the above mentioned developed stock markets. In fact, the significant increase of spillover index during the post-financial crisis period demonstrates that the US and European stock markets were the most affected. On the other hand, despite a relative increase of spillover effects coming from the US and German equity markets, our results show decline in the total net spillovers experienced by the Moroccan market after the recent financial crisis. These findings may provide some useful information to support decision-making and trading strategies for international investors.     

Defining and Understanding Communications Planning: A Current Assessment and an Exploratory Study

This article discusses the concept of communications planning (CP), an approach adopted by Procter & Gamble. One of the basic goals of CP is to make every consumer touch point a unique one so that messages are carefully and specifically targeted. Another goal of CP is to develop an industry-wide approach to measuring ROI so that advertisers have the ability to compare and contrast the effectiveness of advertising campaigns. This article introduces the topic of CP, assesses its role in the advertising and marketing environment and presents the results of an exploratory study. The findings suggest that although some agencies have heard of the concept and a few are actually applying it, CP is an approach that is currently limited in its use. Despite this finding, results also indicate that the basic idea of CP will be accepted and implemented in the future.     

基于VIO和Wi-Fi指纹技术的室内定位系统设计

针对视觉惯性里程计(Visual-Inertial Odometry,VIO)在特征高度重复的场合易产生较大误差以及Wi-Fi指纹精确度不高等问题,提出了一种基于VIO和Wi-Fi指纹技术的室内定位方法。该系统运用VIO和Wi-Fi指纹在系统层面的结合,利用Wi-Fi指纹的无漂移、成本低的特点和VIO在一定范围内的高精确度,先进行Wi-Fi指纹粗定位,后进行VIO精定位,将大面积切割成小面积从而有效提高系统室内定位精确度,降低误差。该系统能在精定位的同时进行对指纹数据库的更新。实验结果表明,该系统的定位误差小于单独使用VIO或Wi-Fi指纹的系统,平均误差达0.15 m,能够有效提高定位精度。