The Influence of Ethnicity and Self-Construal on Leisure Constraints

This study examines the effects of ethnicity, participation, and self-construal on constraints to the popular leisure activity of downhill skiing, an activity that is struggling to attract ethnic minority group members in North America. A new leisure constraints model guided our study, a framework that recognizes the importance of macro- (i.e., ethnicity) and micro-level (i.e., participation, self-construal) variables on the traditional concepts of intrapersonal, interpersonal, and structural constraints. After sampling both Chinese- and Anglo-Canadian skiers and nonskiers, results indicate that ethnicity does influence leisure constraints, both alone and in interaction with self-construal.     

Accrual components and stock trading costs

This paper examines the relationship between accrual components and stock trading costs in China and finds that both abnormal and normal accruals are associated with these costs. Moreover, negative accruals, both abnormal and normal, have a greater influence on stock trading costs than positive accruals because of short-selling constraints in the Chinese stock market. Further analysis reveals that investors who are fixated on accruals are unable to separate positive or negative abnormal accruals from earnings in general. Additionally, investors overestimate the persistence of both positive and negative normal accruals. These findings constitute further evidence of the low degree of market efficiency in China. Chinese investors seem to overestimate firm value when abnormal and normal accruals are positive and underestimate it when they are negative, thus leading to an asymmetric effect on trading costs between positive and negative accruals in the face of short-selling constraints in the Chinese stock market.     

Understanding Travel Constraints Among the Elderly in Hong Kong: A Comparative Study of the Elderly Living in Private and in Public Housing

This study aims to test the influence of constraints on travel of the elderly in Hong Kong and to compare perceived travel constraints of Hong Kong seniors in public and in private housing based on the hierarchical leisure constraints model. Face-to-face questionnaire interviews were conducted from December 2013 to April 2014. A total of 415 participants completed the interview successfully. Despite sharing the similar factor structure of the leisure constraints model, the two groups varied significantly in travel behavior, six constraint items, and seven regression paths.     

Leisure Constraints Affecting Experienced Martial Arts Participants

The experienced constraints of participants in leisure and recreation programs have not been thoroughly investigated; nevertheless, these constraints can influence levels of satisfaction and commitment and the decision to drop out or continue participating. The purpose of this study was twofold: (a) to examine the extent to which constraints predict member satisfaction and commitment and (b) to examine the relationship between socio-demographic variables and the influence of constraints among martial arts participants. The target population evaluated for this study consisted of individuals aged at least 18 years or older who had attended a martial arts school. A total of 595 participants were recruited through on-site and online test administrations. The findings of this study revealed that martial arts consumers of various socio-demographic backgrounds had different perceptions of constraining factors that affected their attendance at martial arts schools.     

Short Selling and Index Arbitrage Profitability: Evidence from the SGX MSCI and TAIFEX Taiwan Index Futures Markets

There are numerous impediments to market efficiency and index arbitrage in real capital markets, including the uptick rule on short selling, execution risk, market impact costs, regulatory barriers, and capital constraints. Adopting and relaxing the uptick restriction in the Taiwan stock market facilitated a study on whether adjustments in this restriction influence the efficiency and arbitrage of the Singapore Exchange Limited (SGX) and the Taiwan Futures Exchange (TAIFEX) index futures markets. This study examines the above issues using five-minute intraday transaction data and performs an ex post test of arbitrage, ex ante test of arbitrage, and regression analysis. Empirical results indicate that relaxing the uptick rule should improve market efficiency and facilitate long arbitrage, subsequently accelerating the adjustment to no-arbitrage bounds and helping to decrease ex post and ex ante mispricing and underpricing following the relaxation.     

垃圾发电厂选址约束条件分析

从生态环境角度来讲,垃圾是污染物,但从资源方面看,垃圾是一种很有前景的可再生资源。利用垃圾作为燃料来进行发电,不但清理了工业生活垃圾,也满足了电量不足,为社会分担了一定的发电压力。其中,垃圾发电厂的选址直接关系到了整个垃圾发电厂以后的发展,有时会因为垃圾发电厂的选址引起社会问题并影响发电厂的建设。论文首先分析了垃圾发电厂选址存在的问题,提出了垃圾发电厂选址的目标和原则,并阐述了垃圾发电厂选址的步骤。然后,介绍了模糊认知图模型的理论和方法,分析影响垃圾发电厂选址的因素,建立了动态的因素影响模型,并确定了因素之间因果影响程度值的计算方法。最后,介绍了多目标优化模型的基本理论,在一定的假设条件下,从影响垃圾发电厂选址的技术、经济、环境和社会四个方面,分别建立子目标函数,确定了约束条件。     

卫星通信网系统最优业务分布算法研究

本文给出了一种低轨星座卫星通信系统业务模型,基于这种模型,考虑到卫星功率受限,提出了基于仰角、基于线性规划以及两者相结合等三种业务分布算法,通过数值分析比较,得出混合的分布算法具有最优性能。     

我国家庭信贷与经济增长关系的实证分析

采用1997-2008年的相关统计数据,考察我国家庭信贷的规模及其结构和经济增长上的变动情况,实证分析家庭信贷对经济增长的影响,结果表明：家庭信贷的增加对经济增长有正效应。进而以农村家庭信贷为考察对象,提出推进农村家庭信贷发展以促进农村经济增长的政策建议。     

我国滨海地区分时度假研究

随着人们生活水平的提高和闲暇时间的增加，海滨休闲度假游越来越得到人们的青睐，随之而来的滨海分时度假开发也渐渐成为一种趋势。积极探索和开发滨海地区分时度假，不仅可以深入开发海洋旅游资源，而且可以为滨海地区的建设提供新的思路。文章通过对分时度假在我国滨海地区的开展状况及发展意义的分析，探讨了分时度假对滨海地区的积极影响及滨海地区发展分时度假的制约因素和存在问题，最后对我国滨海地区发展分时度假提出了建议，以期给相关开发者提供借鉴。     

A voyage from religiousness to secularity and back: a glimpse into ‘Haredi’ tourists

Ultra-orthodox Jews (known as ‘Haredim’) in Israel are increasing their travel demands and their use of existing tourism infrastructure in Israel more than ever before. This exploratory study investigates the question of whether the travel behavior of this group is a reflection of religious tourism or, rather, the tourist behavior of a unique group of religious tourists. Data were collected through three focus groups and face-to-face interviews with some participants of the focus groups. The findings show that the main motivators and determinants of the Haredi travel behavior stem from their daily routine and ultra-religious lifestyle. The study also revealed that minimal, experienced and expected travel attributes are differentiated according to their mode of travel – either as families or as couples.