Asymmetric information and inside management trading in the Chinese market

Insider trading incentives have been widely examined in stock markets, but mainly in developed countries. Given the fact that the volatility of stock exchange markets in emerging economies is typically even higher, there is a need for research to explore the extent to which information asymmetry plays a role in management trading incentives in emerging economies. To address this research need, this study examines management trading incentives in relation to investment efficiency in Chinese listed firms on the main board and on the small- to medium-enterprises (SME) board in the period 2006 to 2017. We find that executives buy shares when firms’ investments are more efficient. The frequency of management buying also increases with investment efficiency. However, managers do not sell their shares according to firms’ investment efficiency. Moreover, executives of firms listed on the main board trade more on the asymmetric information of investment efficiency than those on the SME board.     

Social determinants of panic buying behaviour amidst COVID-19 pandemic: The role of perceived scarcity and anticipated regret

Panic buying behaviour is inherently undesirable due to its detrimental impact on community's resources and disruptions to supply chain systems. The prevailing COVID-19 pandemic has seen a resurgence of this phenomenon across the world, leaving supermarkets in stockout situations. While panic buying is largely reasoned as a psychological reaction to an extreme event, it is also a socially relevant behaviour as our perception of a crisis can be shaped by our observations and interactions within the society. The social determinants of panic buying behaviour, particularly on how these factors heighten one's perception of scarcity, and trigger panic buying behaviour, are studied. A theoretical model is developed to explain panic buying behaviour in a social context by synthesizing various social and behavioural theories, and the inter-relationship among the latent constructs is analysed using the structural equation modelling approach. Accordingly, an online survey was administered and analysis of the data confirmed that non-coercive social influence, social norm and observational learning directly influence one's perception of scarcity. Additionally, perceived scarcity can motivate panic buying behaviour directly or indirectly through feelings of anticipated regret. This study has contributed to the limited literature on panic buying. Understanding the underlying mechanisms of panic buying will aid policymakers and businesses in developing intervention or support strategies to cope with such behaviour.     

Identifying emergence process of group panic buying behavior under the COVID-19 pandemic

The sudden COVID-19 caused frequent incidents of large-scale material panic buying, resulting in imbalance in supply and demand of goods and threatening social stability. It is of great significance to analyze the formation of group panic buying and help alleviate such action. This paper takes the panic buying phenomenon as the research target, quantifies the internal and external factors affecting individual buying behavior, restores the selection process of individual buying behavior, and constructs the emergence model of group panic buying behavior by using the idea of cluster dynamics. Through simulations, we find that: (1) The epidemic information intensity has a significant impact on the emergence of group rush buying behavior. (2) Government intervention plays a significant role in reducing the scale of group rush buying. Besides, the effects of intervention reach the best before people who do not participate in rush buying disappear. In addition, we also discuss the impact, limitations and future research directions.     

Price sensitivity,government green interventions,and green product availability triggers intention toward buying green products

In the 21st century, environmental problems are wreaking havoc, and sustainability is now of primary importance. Several external factors like population growth, industrialization, development, and overexploitation of natural resources play a crucial role in environmental degradation. Thus, the present study endeavors to explore the impact of price sensitivity, governments green interventions and green product availability on green buying intention through the lenses of the theory of planned behavior and the theory of consumption values. It also intends to examine the moderating effect of demographic factors on green buying intention. A cross-sectional study was carried out. Responses were gathered through a self-administered questionnaire-based survey. The final data set of 708 respondents were subjected to structural equation modeling for hypothesis testing. Price sensitivity, government green interventions, and green product availability show negative and significant interaction effects. Perceived behavioral control shows a relatively more substantial impact on green buying intention. Indian consumers from the age group of 41–50 years relatively have higher intention toward green buying. Overall, gender does not reveal any different approaches to environmentally friendly products. Green marketers must focus on communicating the availability of green products to reduce perceived difficulty.     

Online personalized recommended product quality and e-impulse buying: A conditional mediation analysis

Consumer lifestyle and purchasing behavior have been significantly transformed over the past few years. At present, internet technologies make it possible for consumers to order goods and services on a go or in real-time without physically visiting traditional store outlets. This phenomenon calls for a change in marketing strategy to be able to reach consumers wherever they are. Accordingly, online marketing techniques such as personalized product/service recommendation, which makes products available to consumers, optimizing their interests and buying experience, are primal to market development.Therefore, this study examines whether or not online consumers' (1) E-impulse buying (EIB) behavior is influenced by personalized recommended product quality (RPQ), (2) affective image (IMAGE) of, and satisfaction (SAT) with recommended products mediate the RPQ-EIB link, and (3) online review stimulus (ORS) moderated the direct RPQ-EIB and indirect PRQ-EIB through affective image and satisfaction. Data was collected from consumers on five (5) online shops in China (N = 947). The Results showed that (i) RPQ had significant positive influence on EIB, (ii) the RPQ-EIB relation was partly explained by consumers' affective image of, and satisfaction with recommended products, and (iii) the direct and indirect relations between RPQ and EIB were sensitive to consumers’ ORS. Theoretical and practical implications, limitations and direction for future studies were also discussed in this study.     

How did COVID-19 change what people buy: Evidence from a supermarket chain

This research takes a retrospective view of the COVID-19 pandemic and attempts to accurately measure its impact on sales of different product categories in grocery retail. In total 150 product categories were analyzed using the data of a major supermarket chain in the Netherlands. We propose to measure the pandemic impact by excess sales – the difference of actual and expected sales. We show that the pandemic impact is twofold: (1) There was a large but brief growth at 30.6% in excess sales associated with panic buying across most product categories within a two-week period; and (2) People spending most of their time at home due to imposed restrictions resulted in an estimated 5.4% increase in total sales lasting as long as the restrictions were active. The pandemic impact on different product categories varies in magnitudes and timing. Using time series clustering, we identified eight clusters of categories with similar pandemic impacts. Using clustering results, we project that product categories used for cooking, baking or meal preparation in general will have elevated sales even after the pandemic.     

基于知识图谱的社区团购媒体舆论情感倾向分析

基于知识图谱方法,依据Python爬取的数据,考量媒体舆论对社区团购的情感倾向.结果显示:不正当竞争、价格混乱、缺乏售后以及供应链条不畅等,导致媒体舆论对社区团购的情感倾向以"消极"为主.鉴此,应建立健全市场竞争机制和监管机制、完善质量导向定价机制、改进团长主理人培育机制、优化供应链共享合作模式等,以促进社区团购长效健康发展.