A learning-based variable assignment weighting scheme for heuristic and exact searching in Euclidean traveling salesman problems

Many search algorithms have been successfully employed in combinatorial optimization in logistics practice. This paper presents an attempt to weight the variable assignments through supervised learning in subproblems. Heuristic and exact search methods can therefore test promising solutions first. The Euclidean Traveling Salesman Problem (ETSP) is employed as an example to demonstrate the presented method. Analysis shows that the rules can be approximately learned from the training samples from the subproblems and the near optimal tours. Experimental results on large-scale local search tests and small-scale branch-and-bound tests validate the effectiveness of the approach, especially when it is applied to industrial problems.     

The Impulse of Stock Market Volatility and the Market Crash of October 1987

This paper employs the technique of variance decomposition and impulse response functions to examine the dynamic nature of stock market volatility relationships among six major countries during the pre, around, and post October 1987 crash period. During the period around the crash, the US stock market volatility explains much better the variations of the stock market volatility of Australia, Hong Kong, Japan, Singapore and the UK. Our findings clearly indicate that the crash originated in the US and then spread to other major stock markets.     

Global market segmentation for logistics services

While logistics services have become a significant source of competitive differentiation between firms, significant challenges exist relative to developing logistics service offerings for global business customers. Diverse regulations across borders, longer lead times, and increased transportation costs all add to the difficulty of managing logistics services internationally. As a service offering, logistics is often characterized by intensive customer contact, extensive customization requirements, and a reliance on extrinsic cues for service performance. Because of these qualities, logistics services are also subject to cultural influences that exist in cross-border trade. In this article, we argue that logistics service quality (LSQ) components can be used to identify global, horizontal, and vertical segments of logistics services customers, and that cultural and organizational characteristics may modify the LSQ-customer satisfaction relationship. By identifying specific customer segments, some which may transcend national borders, logistics managers can benefit from reduced costs, enhanced revenue, and the ability to differentiate their offering from the highly competitive marketplace.     

How does line-manager support enhance worker wellbeing? A study in China

Abstract

Drawing on the job demands-resources and effort-reward imbalance models, this study investigates the mediating roles of intrinsic motivation and distributive justice in the relationships between line-manager support and employee wellbeing (job satisfaction, work engagement and physical health). Responses to a survey of 357 front-line workers in a Chinese manufacturer were analysed through structural equation modelling. We find, in this context, that line managers are a strong determinant of employee wellbeing when they foster the intrinsic motivation of employees and their perceptions of organisational justice. Such findings are helpful for our understanding of attitudes in the Chinese workforce and underline the value of analysing multiple mediating mechanisms and multiple wellbeing outcomes in human resource management-wellbeing research.     

Profitability of the CRISMA System: From World Indices to the Hong Kong Stock Market

Many studies show that the use of technical analysis can generate excess returns. We test the “CRISMA” technical trading rule introduced by [Pruitt and White J. Portfolio Managt. Spring, 1988, 55–58] on global equity indices and common stocks in Hong Kong. Out study shows that no excess returns could be found in indices except those in Asia. This validates the claims that the Asian stock markets are not as efficient as other stock markets and hence can be exploited by technical analysis. How does CRISMA perform on common stocks in Hong Kong? Generally speaking, CRISMA does not fair better than the buy and hold strategy. Further analysis reveals excess returns for stocks with very large turnover. This is consistent with other recent research on CRISMA conducted on US and UK stock markets. We also amend part of the original CRISMA rules to yield better performance: shrinking the moving average window sizes can increase both the number of trade signals and the excess returns. Therefore CRISMA can be made to work with some judicious choice of parameters, depending on the turnover.     

The classification of heritage tourists: a case of Hue City,Vietnam

Heritage, especially with World Heritage status, is increasingly becoming the main attraction of many tourist destinations. Heritage tourism is also the major tourism product in Hue city, Vietnam. Hitherto, there are almost no official statistics and research pertaining to heritage tourism as well as heritage tourists in Hue. This study aims at providing a preliminary profile of heritage tourists to Hue city and identifying different categories of heritage tourists, with a special focus on package tourists. The international heritage tourists' profile seems to be similar to official statistics of international arrivals, indicating almost no difference in socio-demographic profile between heritage tourists and general tourists in the context of Hue. Various significant differences were found between international and domestic tourists in terms of tourist characteristics, trip profile and the perception of Hue. Adopting McKercher's [(2002) Towards a classification of cultural tourists. International Journal of Tourism Research, 4, 29–38] cultural tourist classification, five categories of heritage tourists were identified, including purposeful heritage tourists, sightseeing heritage tourists, casual heritage tourists, incidental heritage tourists and serendipitous heritage tourists. Among these, sightseeing heritage tourists and purposeful heritage tourists were dominant.     

The interaction between public and private governments: An empirical analysis

Private governments, found in planned developments and condominiums, are increasingly common methods of delivering local services to residents. This paper provides the first empirical study of their impact on local public finance. A novel data set of homeowners' associations allows construction of a panel of private governments in California. Panel methods test whether public expenditures respond to private government prevalence. Estimates indicate that local governments lower spending moderately in response to private government activity, consistent with strategic substitution. The paper then examines various mechanisms to explain this downloading and shows that the substitutability between public and private providers is key to which services are downloaded. Evidence also suggests that the economies of scale in service production in small cities temper the offloading of public services to private governments.