Evaluating museum visitor experiences based on user-generated travel photos

ABSTRACT

This research introduces online travel photos published on social media platforms as a complementary data resource to examine the behavior and experience of museum visitors. The practical value of online travel photos is demonstrated through a case study of popular Hong Kong museums, particularly by using the photo content and metadata available from the Flickr platform. The proposed approach is a generic method for understanding museum visitor behavior and preferences, and supports museum practitioners in developing improved products for visitors. The case study findings are particularly beneficial for tourism managers, especially those in Hong Kong, in promoting and attracting tourists to visit local museums.     

重要性水平在自创商誉处理中的运用

知识经济时代，自创商誉作为企业价值的组成部分，对企业发展的影响深远，然而如此具有高价值相关性的信息却被排除在财务报表之外。文章将重要性水平运用于自创商誉的处理中，以自创商誉的构成因素——品牌为例测算了品牌资产对企业的价值贡献度，然后判断其重要性水平。高于重要性水平的企业信息需要披露给信息使用者，这样便于将重要的自创商誉信息传递给信息使用者。     

Two-step estimation of panel data models with censored endogenous variables and selection bias

This paper presents some two-step estimators for a wide range of parametric panel data models with censored endogenous variables and sample selection bias. Our approach is to derive estimates of the unobserved heterogeneity responsible for the endogeneity/selection bias to include as additional explanatory variables in the primary equation. These are obtained through a decomposition of the reduced form residuals. The panel nature of the data allows adjustment, and testing, for two forms of endogeneity and/or sample selection bias. Furthermore, it incorporates roles for dynamics and state dependence in the reduced form. Finally, we provide an empirical illustration which features our procedure and highlights the ability to test several of the underlying assumptions.     

The Significance of Credit Rationing on Real Investment Activity – A Test for the Significance of Capital-Market Imperfection in Japan

Does bank credit matter to the real investment finance of firms? If so, to what kind of firms does it matter, and why? Despite the progress of research in this field, there is still little empirical consensus on these problems. This paper contributes to the understanding of capital-market imperfection in Japan by answering these questions. I introduce new methods to test the significance of credit rationing and show that bank credit is indeed a very important determinant of real investment activity of small firms. The availability of long-term loans has particularly significant effects on the investment opportunities of small firms, although large firms with capital of more than 1 billion yen are free from credit rationing. JEL Classification Numbers: C51, E44, G21.     

How accurate are government forecasts of economic fundamentals? The case of Taiwan

A government’s ability to forecast key economic fundamentals accurately can affect business confidence, consumer sentiment, and foreign direct investment, among others. A government forecast based on an econometric model is replicable, whereas one that is not fully based on an econometric model is non-replicable. Governments typically provide non-replicable forecasts (or expert forecasts) of economic fundamentals, such as the inflation rate and real GDP growth rate.In this paper, we develop a methodology for evaluating non-replicable forecasts. We argue that in order to do so, one needs to retrieve from the non-replicable forecast its replicable component, and that it is the difference in accuracy between these two that matters. An empirical example to forecast economic fundamentals for Taiwan shows the relevance of the proposed methodological approach. Our main finding is that the undocumented knowledge of the Taiwanese government reduces forecast errors substantially.     

用户生成内容使用与满足对品牌态度的影响研究——以音视频类用户生成内容为例

以媒体使用与满足理论和信息加工理论为研究基础,采集网络中的客观数据,通过内容分析法量化数据,利用多元线性回归和阶层回归验证理论模型。研究发现:音视频类用户生成内容的内部特征正向影响消费者对内容的使用和满足;音视频类用户生成内容的创作者声誉外部特征正向影响消费者对内容的使用与满足,而内容的推荐性未对消费者选择产生作用;音视频内容的使用与满足则直接影响消费者品牌态度的形成;内容的使用与满足在音视频类用户生成内容与消费者品牌态度之间起中介作用。     

Cover's universal portfolio,stochastic portfolio theory,and the numéraire portfolio

Cover's celebrated theorem states that the long‐run yield of a properly chosen “universal” portfolio is almost as good as that of the best retrospectively chosen constant rebalanced portfolio. The “universality” refers to the fact that this result is model‐free, that is, not dependent on an underlying stochastic process. We extend Cover's theorem to the setting of stochastic portfolio theory: the market portfolio is taken as the numéraire, and the rebalancing rule need not be constant anymore but may depend on the current state of the stock market. By fixing a stochastic model of the stock market this model‐free result is complemented by a comparison with the numéraire portfolio. Roughly speaking, under appropriate assumptions the asymptotic growth rate coincides for the three approaches mentioned in the title of this paper. We present results in both discrete and continuous time.     

Contrasting user generated videos versus brand generated videos in ecommerce

This empirical research (n = 177) compared the impact of user generated videos and brand generated videos on online shopper perceptions, attitudes and purchase intentions. The study was guided by the technology acceptance model. Source of videos was a between-subjects factor. The findings indicated that online shoppers did not differentiate between the two video sources when evaluating the perceived usefulness of the videos. Conversely, user generated videos had a significantly greater impact on attitude toward the ad and attitude toward the brand than brand generated videos. Further, there was no significant main effect of video source on shopper purchase intentions. Theoretical and practical implications are discussed.     

社交媒体平台旅游者生成内容的影响因素研究

在Web 2.0时代,社交媒体平台旅游者生成内容日益成为公众关注的重点,其对旅游者行程规划及企业的发展意义重大。但是,旅游者生成内容在现实发展过程中出现了优质旅游者生成内容不足及旅游者生成内容质量急速下降等问题。文章采用扎根理论质性研究方法,以热爱社交媒体的青年群体为研究对象,探索社交媒体平台旅游者生成内容的影响因素及作用路径。在此基础上,构建“环境”“平台”“个体动机”的理论模型,并从这三方面提出激发旅游者生成内容动机及行为的建议。