An empirical test of modal choice and allocative efficiency: Evidence from US coal transportation

A generalized shipper transportation cost function is estimated to test whether coal shippers achieve allocative efficiency with respect to market prices when facing limited access to the full range of transportation services. Findings indicate that allocative efficiency with respect to market prices is achieved when shippers have access to all major transportation modes. In contrast, the condition for allocative efficiency is not met with respect to market prices when shippers’ modal choices are limited to trucking and rail services. Findings for the sample of shippers who face limited shipping choices is interpreted as suggesting an over-use of trucks relative to the use of trains due to price distortions of transportation services.     

Stock prices and demand for money in China: New evidence

This paper investigates the relationship between stock prices and the real money demands for China within a cointegrated framework. This study reports two important results. First, test results reveal that a stable long-term relationship exists between broad money (M2) and its determinants including real income, foreign interest rate, and stock prices. Second, stock prices have a significant substitute (positive) effect on long-run broad-money (M2) demand and its omission can lead to serious misspecification in the money demand function in both the short- and long-run. Finally, we demonstrate that long-run income elasticity is not significantly different from unity with the inclusion of stock prices in the money demand equation.     

Quality_Marriage Deployment in determining priority needs for initiating marriage loyalty

Marriage life is an abstract and complex matter that even for husband and wife themselves find not as easy as they expect in achieving a long term marriage. The differences between spouses may lead to disabilities to see clearly their spouse needs. The disabilities may implicate to a bigger issue which is loyalty. In this study, the analysis have been carried out to determine priority needs in marriage for initiating loyalty. In using Quality Function (QFD) adaptations, we created “Quality_Marriage Deployment” by deploy the marriage in quality perspectives. As result, we succeed to identify 7 of 15 variables with the lowest performance value that make them as the priority needs. Based on the needs, we proposed some actions both in perspective of marriage and quality knowledge. Furthermore, the result shows Quality_Marriage Deployment matrix may generally easier for any user to read and know directly what variables need to be improved. Each solutions were presented to allow the users to act in a more efficient and effective in time and energy.     

An inflation-hedging portfolio selection model

This paper suggests an investment strategy which allows an investor to specify the desired return on investment to be equal to the expected rate of inflation plus a certain premium rate, and then helps the investor select those stocks which will provide the greatest chance of meeting that specified investment goal.     

Can Benefits in Recreational Parks in Malaysia Be Transferred? A Choice Experiment (CE) Technique

This paper analyses benefit transfer in the case of recreational parks using the choice experiment (CE) technique. The CE was employed because it allows different changes in recreational park attributes to be taken into account. The analyses were performed in terms of transferability of valuation function and willingness to pay (WTP) values. The results for the valuation function suggest that the estimated coefficients between the two sites are not transferable. However, the estimated WTP values can be transferred. The results suggest the suitability of using the CE approach in analysing benefit transfer if the objective is to transfer the WTP values rather than the valuation function. Copyright © 2014 John Wiley & Sons, Ltd.     

Consumer-based brand equity (CBBE) and the role of social media communications: Qualitative findings from the Malaysian automotive industry

Previous studies on consumer-based brand equity (CBBE) have maintained that CBBE is a multidimensional construct which reflects both consumers’ perceptions and attitudes. However, only few of the extant CBBE models emanate from the context of automotive brands. As such, this present study employs a qualitative approach using a semi-structured face-to-face interview among 11 informants, to explore the concept of CBBE in the context of automotive brands. Also, this study explores the role of social media communications in developing CBBE for automotive brands. The findings of this research demonstrate that CBBE is a valid concept which reflects consumers’ perception and mindset towards their knowledge, which are reflected through brand awareness, hedonic brand image, functional brand image, and brand sustainability of automotive brands. Additionally, the marketing activities and communication contents on social media play an important role in improving the perception of automotive brands in consumers’ minds, hence the development of automotive CBBE. The theoretical implications of these research findings are that this study provides an insight into the feasibility of developing a specific CBBE model for automotive brands. Practically, this study presents insights for brand manager on the importance of developing CBBE through social media communications.     

Covid-19 and heuristic biases: evidence from India

Stock markets worldwide have witnessed high volatility during the year 2020 owing to the eruption of Covid-19. Due to the world’s unprecedented economic challenges, this study could potentially guide financial advisors and individual investors in dealing with pandemics. An association between investors’ perception toward the intensity of Covid-19 and heuristic biases is analyzed using the responses of 290 stock investors of National Capital Region (NCR), India. The data are validated through Cronbach’s alpha, and the model fit is analyzed using EFA. Confirmatory factor analysis (CFA) is employed to investigate the relationship between Covid-19 and heuristic biases. Covid-19 does not have any influence on the overconfidence of investors. A significant positive relationship is found between Covid-19 and the remaining three heuristics, i.e., availability, anchoring, and representativeness. The present study analyzes the association between Covid-19 and specific investors’ bias only and should not be interpreted for causality. The study has the potential to guide investors in understanding the errors they are making while investing during the pandemic and the ways to deal with them. The study could provide insights to the financial advisors in understanding their customers. The implications of the study may include inputs of the errors committed by them during the pandemic. Despite the fact that an enormous amount of literature exists in the field of investors’ sentiment, a scarcity of literature is available that measures the relationship between heuristic biases and the perceived impact of the pandemic. The current study attempts to fill this gap in the literature.

     

Halal Purchase Intention Among the Singaporean Muslim Minority

Muslim consumers’ awareness toward halal foods and products has been increasing. The halal concept becomes consumers’ vital concern as it covers wide areas of consumption, though one might perceive it as only a food-related issue. Given this background, this article aims to investigate the factors that influence consumers’ intention to purchase halal-certified foods and products. By using Ajzen’s theory of planned behavior (TPB) as a theoretical framework, this research employed a quantitative survey with a sample of 332 Muslim consumers living in Singapore to examine Singaporean Muslim preferences in purchasing halal foods and products. Data gathered from the survey were then explored and analyzed. Multiple regression analysis results indicate that all TPB variables have a positive and significant influence on the intention to purchase halal-certified products among the Muslim minority in Singapore.