Goodbye maps,hello apps? Exploring the influential determinants of travel app adoption

With the increased market penetration of smartphones and the emergence of high-speed wireless network technologies, the tourism industry's interest in using mobile applications as a means to enhance the tourist experience is rising. However, despite the growing number of companies and organizations that are investing in travel-related apps, there is limited academic research on consumers' intentions to adopt these technological innovations. In this study, the technology adoption model, innovation diffusion theory, and social cognitive theory are utilized to investigate the factors that could affect travel app adoption by tourists visiting rural tourism sites in China. The results show that perceived usefulness, perceived ease of use, and compatibility are significant antecedents of the intention to use travel apps. Further, self-efficacy indirectly influences the intention to use travel apps through the mediation of outcome expectations. The results do not support social norms as significant predictors of behavioural intention. A discussion and implications are also provided.     

Axiomatization of residual income and generation of financial securities

This paper presents an axiomatization of residual income, also known as excess profit, and illustrates how it can univocally give rise to fixed-income or variable-income assets. In the first part it is shown that, depending on the relations between excess profit and the investor's excess wealth, a well-specified theory of residual income is generated: one is the standard theory, which historically traces back to Hamilton and Marshall and is a deep-rooted notion in economic theory, finance, and accounting. Another is the systemic value added or lost-capital paradigm: first introduced by Magni, the theory is enfolded in Keynes's notion of user cost and is naturally generated by an arbitrage-theory perspective. In the second part, the paper inverts the usual analysis: instead of computing residual incomes from a pattern of cash flows, residual incomes are fixed first to derive vectors of cash flows. It is shown that variable- or fixed-income assets may be constructed on the basis of either theory starting from pre-determined growth rates for residual income. In particular, zero-coupon bonds and coupon bonds traded in a capital market are shown to be deduced as equilibrium vectors of residual-income-based assets.     

马克思科学思想的现代解析——以《机器。自然力和科学的应用》为文本

《机器。自然力和科学的应用》是马克思为《资本论》的写作所做的重要准备,蕴含着丰富的科学思想。在书中,马克思指出了科学技术一体化的发展趋势;深刻揭示了科学与经济活动的互动关系和科学的发展规律;通过对资本运动规律的分析,洞见了自然力、科学的异化。这些在19世纪中后期的真知灼见仍然有着重要的当代意义。     

A moment expansion approach to option pricing

In this paper we present a new methodology for option pricing. The main idea consists of representing a generic probability distribution function (PDF) by an expansion around a given, simpler, PDF (typically a Gaussian function) by matching moments of increasing order. Because, as shown in the literature, the pricing of path-dependent European options can often be reduced to recursive (or nested) one-dimensional integral calculations, the moment expansion (ME) approach leads very quickly to excellent numerical solutions. In this paper, we present the basic ideas of the method and the relative applications to a variety of contracts, mainly: Asian, reverse cliquet and barrier options. A comparison with other numerical techniques is also presented.     

(Non-)robustness of maximum likelihood estimators for operational risk severity distributions

The quality of operational risk data sets suffers from missing or contaminated data points. This may lead to implausible characteristics of the estimates. Outliers, especially, can make a modeler's task difficult and can result in arbitrarily large capital charges. Robust statistics provides ways to deal with these problems as well as measures for the reliability of estimators. We show that using maximum likelihood estimation can be misleading and unreliable assuming typical operational risk severity distributions. The robustness of the estimators for the Generalized Pareto distribution, and the Weibull and Lognormal distributions is measured considering both global and local reliability, which are represented by the breakdown point and the influence function of the estimate.     

Customer engagement outcomes in mobile applications: Self-congruence as a moderator

Understanding customer engagement outcomes in mobile applications is essential for the success of firms. The present study examines a model to comprehend customer engagement outcomes in mobile applications. The study also tests the moderation effect of self-congruence (high vs low) in the relationship that customer engagement shares with its outcomes. 381 responses were collected thru a structured questionnaire employing random intercept surveys. The study utilized structural equation modeling for analysis purposes. The results reveal co-creation, customer retention, and customer experience as key outcomes of mobile application-based customer engagement. Further, the multi-group moderation analysis showed a significant moderation role of high and low self-congruence sub-groups. Theoretically, the results extend current literature regarding customer engagement in mobile applications by evaluating its key outcomes, and self-congruence as a moderator. For practitioners, the findings stress the importance of engaging customers with mobile applications.     

高频无极灯和低频无极灯的对比应用

文章通过对无极灯发光原理和创新特点的总结,阐述了高频无极灯和低频无极灯的异同,并初步总结出两者之间的对比应用结果。     

硼氢化钠的性能与应用

硼氢化钠是一种重要的离子型化合物,它的用途很广泛。文章论述硼氢化钠的两种重要性质——还原性和水解性,叙述了硼氢化钠的应用并简介了其制备方法。