Exploring mobile banking services for user behavior in intention adoption: using new hybrid MADM model

Service Business - Mobile banking services are one of the most promising recent technological innovations. In this study, we developed a conceptual model to explore mobile banking services for user...     

The Dynamic Relations between the World's Leading Computer Companies and Their Corresponding OEM/ODM Firms

This paper explores the return dynamics between the world's major computer OBM firms and their corresponding OEM/ODM companies in Taiwan. We adopt a systematic multiple hypotheses testing method, the VAR test methodology, to test the dynamic relations. The result shows that there exist strong dynamic relations between the stock returns of the own-brand firms and their corresponding OEM/ODM firms. Specifically, returns of the OBM firms tend to lead those of their corresponding OEM/ODM companies. And the extent of this return lead-lag pattern increases with the closeness of the relationship between those OBM firms and their OEM/ODM partners. This implies that the OBM-OEM/ODM partnership is an important factor in the information set of the investors' trading strategies. In addition to the return dynamics, we also examine the volatility association and spillover effect between returns of these two types of firms. The result indicates a significant spillover effect of the current volatility of the OBM firms on future volatility of their corresponding OEM/ODM firms. Our results imply that the information transmission process between performance of the OBM firms and earnings power of the OEM/ODM companies is not only channeled through the first moment return lead-lag pattern, but also conducted by the second moment volatility spillover effect.     

Reexamining the Profitability of Technical Analysis with Data Snooping Checks

In this article we reexamine the profitability of technicalanalysis using White’s reality check and Hansen’sSPA test that correct the data snooping bias. Compared to previousstudies, we study a more complete "universe" of trading techniques,including not only simple rules but also complex trading strategies,and we test the profitability of these rules and strategieswith four main indices. It is found that significantly profitablesimple rules and complex trading strategies do exist in thedata from relatively "young" markets (NASDAQ Composite and Russell2000) but not in the data from relatively "mature" markets [DowJones Industrial Average (DJIA) and S&P 500]. Moreover,after taking transaction costs into account, we find that thebest rules for NASDAQ Composite and Russell 2000 outperformthe buy-and-hold strategy in most in- and out-of-sample periods.It is also found that complex trading strategies are able toimprove on the profits of simple rules and may even generatesignificant profits from unprofitable simple rules.     

A Litterman BVAR approach for production forecasting of technology industries

Forecasting the production of technology industries is important to entrepreneurs and governments, but usually suffers from market fluctuation and explosion. This paper aims to propose a Litterman Bayesian vector autoregression (LBVAR) model for production prediction based on the interaction of industrial clusters. Related industries within industrial clusters are included into the LBVAR model to provide more accurate predictions. The LBVAR model possesses the superiority of Bayesian statistics in small sample forecasting and holds the dynamic property of the vector autoregression (VAR) model. Two technology industries in Taiwan, the photonics industry and semiconductor industry are used to examine the LBVAR model using a rolling forecasting procedure. As a result, the LBVAR model was found to be capable of providing outstanding predictions for these two technology industries in comparison to the autoregression (AR) model and VAR model.     

How does demand uncertainty affect food and beverage capacity in the hotel industry?

This study investigates the effect of demand uncertainty on hotels’ food and beverage (F&B) capacity using the operation data of international tourist hotels in Taiwan. The empirical results of this study show that demand uncertainty leads to an increase in F&B capacity. Moreover, the magnitude of this effect increasingly strengthens for hotels with larger F&B scales. Our results together with other studies on room capacity collectively indicate that hotels’ overcapacity problem resulting from demand uncertainty considerably varies with hotel scales and between different hotel sectors.     

A new test for linear inequality constraints when the variance–covariance matrix depends on the unknown parameters

We extend Hansen’s (2005) test to testing hypotheses involving general inequality constraints where the variance–covariance matrix of the functions in the constraints depends on the unknown parameters. The test can be applied to a wider class of problems than Wolak’s (1991).     

Enhancing value creation of device vendors in the medical service industry: a relationship perspective

Around the world, hospitals receiving government funding and insurance payments are under increasing pressure to cut costs. Based on the literature in relationship value and transaction cost economics, long-term relationships between suppliers and customers can be beneficial to cost reduction and value creation. This study explores the value of long-term relationships between medical device vendors and hospitals from the hospital perspective. In-depth interviews were conducted employing a grounded theory approach. The results show that in addition to product benefits/costs and supportive services, vendor reputation and sales personnel specificity are most influential towards the value of their long-term relationships.     

Top management team characteristics,R&;D investment and capital structure in the IT industry

This paper is based on agency theory, resource-based and upper-echelons perspectives to examine the relationship between R&D investment and capital structure and the moderating effects of top management team (TMT) characteristics on the financing decisions of R&D investment in small and medium enterprises (SMEs). Using data for SMEs in Taiwan’s IT industry, we find that (1) SMEs involved in R&D activities tend to have lower debt levels and (2) TMT characteristics exert considerable influence on the R&D investment-financial leverage relationship in SMEs. One important implication of the empirical evidence is that for SMEs trying to compete on the basis of innovation, the TMT characteristics significantly influence financing decisions. As innovative activities increase, the selection and development of top executives, who are responsible for choosing an optimal capital structure that could keep financial costs low while providing sufficient financial resources for maintaining a continuous, uninterrupted rate of R&D, is crucial for SMEs.     

Website attributes that increase consumer purchase intention: A conjoint analysis

Prior studies investigate factors that affect consumer preferences in online shopping websites. However, prior studies, due to their methodological limitations, do not thoroughly investigate consumer preference structures that reflect the relative importance of attributes and features of shopping websites. By synthesizing prior literature, this research proposes and investigates a comprehensive list of attributes and features of shopping websites that increase consumer purchase intention. This research used IT-based platforms for data collection, and collected data from university students. Data analysis enabled us to categorize consumers that use online shopping websites into three groups based on the attributes they prefer. Consumers with different levels of computer expertise also showed differing preference structures. This research has implications in both research and practice.     

Why do Visitors Go to Museums? The Case of 921 Earthquake Museum,Wufong, Taichung

The paper examines the motives and sources of satisfaction of 286 respondents relating to the 921 Earthquake Museum in Taichung, Taiwan. In concludes that income, age and education remain statistically significant determinants of at\titudes, and notes the existence of four clusters derived from k-means analysis but supported by a cross-tabulation of cluster types and categories derived from themes identified in responses to open-ended questions. The paper lends some support to the continuum of the authentic to “pure essentialism” while arguing that the latter is a logical corollary of the concept, but in practice will be rare. In that respect the Museum represents a negotiated essentialism in that the core of the Museum is the damaged school, but it has been sanitized. Reference is also made to differing concepts of museums and the literature relating to competing understandings of the roles of museums and why people visit them.