Search results for: Chinese tourism market

Authors: Huei-Wen Lin, Huei-Fu Lu

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Event sport tourism (EST) has become an especially important economic sector around the world. As the magnitude continues to grow, attracting more tourists, media, and investment for the host community, and many local areas/regions and states have identified the expenditures by visitors as a potential source of economic or employment growth. The main purposes of this study are to investigate stakeholders’ insights into the feature of hosting EST and using them as a regional development strategy. Continuing the focus of previous literature on the regional development and economic benefits by hosting EST, a total of fıve semi-structured interview questions are designed and a thematic analysis is employed to conduct with eight key sport and tourism decision makers in Atlanta during July to August 2016. Through the depth interviews, the study will contribute to a better understanding of stakeholders’ decision-making, identifying benefits and constraints as well as leveraging the impacts of hosting EST. These findings have provided stakeholders’ perspectives of hosting EST and using them as a reference of regional development in emerging sport tourism markets in the US. Additionally, this study examines key considerations and issues that affect and are critical to reliable understanding of the economic impacts of hosting EST on the regional development, and it will be able to benefit future management authorities (i.e. governments and communities) in their sport tourism development endeavors in defining and hosting successful EST. Furthermore, the insights gained from the qualitative analysis could help other cities/regions analyzing the economic impacts of hosting EST and using it as an instrument of city development strategy.

Keywords: economic impacts, event sport tourism, regional economic development, longitudinal analysis

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Authors: Damien Kunjal, Faeezah Peerbhai

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Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

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Authors: Shuo Liu, Dan Liu

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In the field of named entity recognition, most of the research has been conducted around simple entities. However, for nested named entities, which still contain entities within entities, it has been difficult to identify them accurately due to their boundary ambiguity. In this paper, a hierarchical recognition model is constructed based on the grammatical structure and semantic features of Chinese text for boundary calculation based on lexical features. The analysis is carried out at different levels in terms of granularity, semantics, and lexicality, respectively, avoiding repetitive work to reduce computational effort and using the semantic features of words to calculate the boundaries of entities to improve the accuracy of the recognition work. The results of the experiments carried out on web-based microblogging data show that the model achieves an accuracy of 86.33% and an F1 value of 89.27% in recognizing nested named entities, making up for the shortcomings of some previous recognition models and improving the efficiency of recognition of nested named entities.

Keywords: coarse-grained, nested named entity, Chinese natural language processing, word embedding, T-SNE dimensionality reduction algorithm

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Authors: Edwin Njoroge Kimani, Alan M. Munyao

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Despite Kenya’s status as a regional economic powerhouse, it struggles with economic shocks that expose the consumers. This, however, seems not to affect major cooperates such as those in the telecommunication and energy sectors. Through their operations, they have not only been able to fluctuate prices at will but also they have been accused of curtailing their rivals from penetrating the market. This study, through literature review of the legal and institutional framework, reports and publications interrogates the law and uncovers the following; i) failings of the legal framework to define market dominance and abuse of such positions, ii) the participation of the state, iii) the inertia of the government to prosecute corporations that abuse their market dominance, iv) the role of the state as a market player and as a regulator through the Competition Authority of Kenya. This study concludes that the market distortion is as a result of weak legal and institutional framework as well as conflict of interest by the government. Not much has been researched in the field of competition law the greater East Africa. This research is intended to form part of the growing research in the field and inform legal reform.

Keywords: competition law, economic power, dominance, Kenya

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Authors: Lily Ye

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The contemporary fashion industry has witnessed the global rise of Chinese fashion designers. China plays more and more important role in this sector globally. One of the key debates in contemporary time is the conception of Chinese fashion. A close look at previous discussions on Chinese fashion reveals that most of them are explored through the lens of cultural knowledge and assumptions, using the dichotomous models of East and West. The results of these studies generate an essentialist and orientalist notion of Chinoiserie and Chinese fashion, which sees individual designers from China as undifferential collective members marked by a unique and fixed set of cultural scripts. This study challenges this essentialist conceptualization and brings fresh insights to the discussion of Chinese fashion identity against the backdrop of globalisation. Different from a culturalist approach to researching Chinese fashion, this paper presents an alternative position to address the research agenda through the mobilisation of Giddens’ (1991) theory of reflexive identity formation, privileging individuals’ agency and reflexivity. This approach to the discussion of identity formation not only challenges the traditional view seeing identity as the distinctive and essential characteristics belonging to any given individual or shared by all members of a particular social category or group but highlights fashion designers’ strategic agency and their role as fashion activist. This study draws evidence from a textual analysis of published stories of a group of established Chinese designers such as Guo Pei, Huishan Zhang, Masha Ma, Uma Wang, and Ma Ke. In line with Giddens’ concept of 'reflexive project of the self', this study uses a narrative methodology. Narratives are verbal accounts or stories relating to experiences of Chinese fashion designers. This approach offers the fashion designers a chance to 'speak' for themselves and show the depths and complexities of their experiences. It also emphasises the nuances of identity formation in fashion designers, whose experiences cannot be captured in neat typologies. Thematic analysis (Braun and Clarke, 2006) is adopted to identify and investigate common themes across the whole dataset. At the centre of the analysis is individuals’ self-articulation of their perceptions, experiences and themselves in relation to culture, fashion and identity. The finding indicates that identity is constructed around anchors such as agency, cultural hybridity, reflexivity and sustainability rather than traditional collective categories such as culture and ethnicity. Thus, the old East-West dichotomy is broken down, and essentialised social categories are challenged by the multiplicity and fragmentation of self and cultural hybridity created within designers’ 'small narratives'.

Keywords: Chinoiserie, fashion identity, fashion activism, narrative inquiry

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Authors: Yi Huang

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Background: For the development of children, it is important for parents to encourage children not only on academic competence but also on children’s social competence. In the western cultural context, parents emphasize more heavily on female children’s social-behavioral development. However, whether the conclusion is correct in eastern culture and whether the parent’s gender affects such an emphasis remains unclear. And, more valuably, from the perspective of intervention, except for the nature factors - child’s gender and parent’s gender, it is also worth to probe whether the improvable factors, such as parent’s perspective taking, influence parent’s emphasis on child’s social competence. Aim: This study was aimed to investigate the impact of parent’s gender, child’s gender, and parent’s perspective-taking on parent’s attitudes of encouragement of the child’s social competence under the Chinese cultural context. Method: 461 Chinese parents whose children were in the first year of middle school during the research time participated in this study. Among all participants, there were 155 fathers and 306 mothers. The research adopted the self-report of perspective-taking, which is the sub-scale of the Interpersonal Reactivity Index and the self-report of the encouragement on a child’s social communication, which is the sub-scale of the Chinese version of The Children Rearing Practice Report. In this study, 291 parents reported regarding male children, and 170 parents reported regarding female children. Results: Contrary to the traditional western theory, which usually suggests parent puts more attention on social development and competence to girl the instead of the boy, in the Chinese context, parent emphasizes social competence more on the male child. Analogically, in China, compared to mother, father underscores the child’s social competence more heavily. By constructing the hierarchical regression model, the result indicated that after controlling the variables of the gender of child and the gender of parent, parent’s perspective-taking still explains for the variance of parent’s encouragement on child’s social competence, which means, parent’s perspective-taking predicts parent’s encouragement on child’s social competence after excluding the impact of the gender of parent and child. Conclusion: For Chinese parents, the ability of perspective-taking is beneficial to enhance their awareness of encouraging children’s social competence.

Keywords: parent; child, gender differences, perspective-taking, social development

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Authors: Chia-Ling Hsieh, Kankanit Potikit

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Metadiscourse refers to linguistic resources employed by writers to organize text and interact with readers. While metadiscourse has received considerable attention within the field of discourse analysis, few studies have explored the use of metadiscourse in email, one of the most popular forms of computer-mediated communication. Furthermore, the diversity of cross-linguistic research required to uncover the influence of cultural factors on metadiscourse use is lacking. The present study compares metadiscourse markers employed in Chinese and Thai-language request emails with the purpose of discovering cross-cultural similarities and differences that are meaningful and applicable to foreign language teaching. The analysis is based on a corpus of 200 request emails: 100 composed in Chinese and 100 in Thai, with half of the emails from each language data set addressed to professors and the other half addressed to classmates. Adopting Hyland’s model as an analytical framework, two primary categories of metadiscourse are identified. Textual metadiscourse helps to create text coherence, while interpersonal metadiscourse functions to convey authorial stance. Results of the study make clear that both Chinese and Thai-language emails use significantly more interpersonal markers than textual markers, indicating that email, as a unique communicative medium, is characterized by high degrees of concision and interactivity. Users of both languages further deploy similar patterns in writing emails to recipients of different social statuses. Compared with emails addressed to classmates, emails addressed to professors are notably longer and include more transition and engagement markers. Nevertheless, cultural factors do play a role. Emails composed in Thai, for example, include more textual markers than those in Chinese, as Thai favors formal expressions and detailed explanations, while in contrast, emails composed in Chinese employ more interpersonal markers than those in Thai, since Chinese tends to emphasize recipient involvement and attitudinal warmth. These findings thereby demonstrate the combined effects of email as a communicative medium, social status, and cultural values on metadiscourse usage. The study concludes by applying these findings to pedagogical suggestions for teaching email writing to Chinese and Thai language learners based on similarities and differences in metadiscourse strategy between the two languages.

Keywords: discourse analysis, email, metadiscourse, writing instruction

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Authors: Chih-Wen Wu

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This study examines the antecedents of heritage tourism loyalty and its relation to destination image, consumer travel experience, and destination satisfaction in the tourism context. In this respect, a number of important questions concerning how destination image, consumer travel experience, and destination satisfaction impact destination loyalty are raised. This study attempts to identify three key antecedents of loyalty in the heritage context. The author empirically tests predicted relationships by using personal interview data from 475 foreign tourists. The conceptual model investigated the relevant relationships among the constructs by using confirmatory factor analysis(CFA) and structural equation modeling (SEM) approach. Findings from the research sample support the argument that destination image, consumer travel experience, destination satisfaction are the key determinants of destination loyalty. Destination image and consumer travel experience influence destination satisfaction. The author also discusses theoretical and managerial implications of research findings for marketing the heritage globally.

Keywords: heritage, destination loyalty, destination image, consumer travel experience, destination satisfaction, tourism

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Authors: Martin Cai, Khadijah B. Hashim, Leng Leo, Edmund F. Tian

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Analysis of traditional Chinese medicinal (TCM) supplements has always been a laborious task, particularly in the case of multi‐ingredient formulations. Traditionally, herbal extracts are analysed using one or few markers compounds. In the recent years, however, pharmaceutical companies are introducing health supplements of TCM active ingredients to cater to the needs of consumers in the fast-paced society in this age. As such, new problems arise in the aspects of composition identification as well as quality analysis. In most cases of products or supplements formulated with multiple TCM herbs, the chemical composition, and nature of each raw material differs greatly from the others in the formulation. This results in a requirement for individual analytical processes in order to identify the marker compounds in the various botanicals. Thin-layer Chromatography (TLC) is a simple, cost effective, yet well-regarded method for the analysis of natural products, both as a Pharmacopeia-approved method for identification and authentication of herbs, and a great analytical tool for the discovery of chemical compositions in herbal extracts. Recent technical advances introduced High-Performance TLC (HPTLC) where, with the help of automated equipment and improvements on the chromatographic materials, both the quality and reproducibility are greatly improved, allowing for highly standardised analysis with greater details. Here we report an industrial consultancy project with ONI Global Pte Ltd for the analysis of LAC Liver Protector, a TCM formulation aimed at improving liver health. The aim of this study was to identify 4 key components of the supplement using HPTLC, following protocols derived from Chinese Pharmacopeia standards. By comparing the TLC profiles of the supplement to the extracts of the herbs reported in the label, this project proposes a simple and cost-effective analysis of the presence of the 4 marker compounds in the multi‐ingredient formulation by using 4 different HPTLC methods. With the increasing trend of small and medium-sized enterprises (SMEs) bringing natural products and health supplements into the market, it is crucial that the qualities of both raw materials and end products be well-assured for the protection of consumers. With the technology of HPTLC, science can be incorporated to help SMEs with their quality control, thereby ensuring product quality.

Keywords: traditional Chinese medicine supplement, high performance thin layer chromatography, active ingredients, product quality

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Authors: Maria Brás

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The main purpose of the presentation is to identify the impacts and appropriate measures to prevent potential attacks, or minimize the risk of an attack in tourist destination. Terrorism has been growing in the shadow of unpredictability, however, is possible to minimize the danger of a terrorist attack by doing the: (1) recognition; (2); evaluation; (3) avoidance; (4) threat reduction. The vulnerability of tourism industry to terrorism is an undeniable fact, and terrorists know it. They use this advantage attacking tourists for very specific reasons, such as the: (1) international coverage by the media, “if it bleeds it leads” ; (2) chances of getting different nationalities at the same place and time; (3) possibility of destroyed the economy of a destination, or destinations (“terrorism contamination effect”), through the reduction of tourist demand; (4) psychological, and social disruption based on fear of negative consequences. Security incidents, such as terrorism, include different preventive measures that can be conducted in partnership with: tourism industry (hotels, airports, tourist attractions, among others); central government; public and/or private sector; local community; and media. The recovery strategies must be based on the dissemination of positive information to the media; in creating new marketing strategies that emphasize the social and cultural values of the destination; encourage domestic tourism; get government, or state, financial support.

Keywords: terrorism, tourism, safety, security, impacts, prevention, recovery

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Authors: F. Gökgöz, M. E. Atmaca

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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: electricity market, portfolio optimization, risk management in electricity market, sharpe ratio

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Authors: David S. Rosenstein

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The author believes that modern spoken languages should be equally difficult (or easy) to learn, since all normal children learning their native languages do so at approximately the same rate and with the same competence, progressing from easy to more complex grammar and syntax in the same way. Why then, do some languages seem more difficult than others? Perhaps people are referring to the written language, where it may be true that mastering Chinese requires more time than French, which in turn requires more time than Spanish. But this may be marginal, since Chinese and French children quickly catch up to their Spanish peers in reading comprehension. Rather, the real differences in difficulty derive from two sources: hardened L1 language habits trying to cope with contrasting L2 habits; and unfamiliarity with unique L2 characteristics causing faulty expectations. It would seem that effective L2 teaching and learning must take these two sources of difficulty into consideration. The author feels that the latter (faulty expectations) causes the greatest difficulty, making effective teaching and learning somewhat different for each given foreign language. Examples from Chinese and other languages are presented.

Keywords: learning different languages, language learning difficulties, faulty language expectations

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Authors: C. Asarkaya, S. Z. Siretioglu Girgin

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Turkish migrants constitute the largest group among people with migration background living in Germany. Turkish women’s labor market participation is of significant importance for their social and economic integration to the German society. This paper thus aims to investigate their labor market positions. Turkish migrant women participate less in the labor market compared to men, and are responsible for most of the housework, child care, and elderly care. This is due to their traditional roles in the family, educational level, insufficient knowledge of German language, and insufficient professional experience. We strongly recommend that wide-reaching integration policies for women are formulated, so as to encourage participation of not only migrant women but also their husbands, fathers and/or brothers, and natives.

Keywords: empowerment, Germany, labor market, migration, Turkish, women

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Authors: Peng Lu, Liu Ting

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Because of the difficulty of financing from the external capital market, the reorganization and merger of private enterprises have formed a family group, seeking the help of the internal capital market to alleviate the capital demand. However, the inefficiency of the internal capital market can damage the effect it should have played, and even hinder the development of enterprises. This paper takes the "Tomorrow Group" as the research object to carry on the case analysis. After using the improved cash flow sensitivity coefficient to measure the efficiency of the internal capital market of Tomorrow Group, the inefficiency phenomenon is found. Then the analysis reveals that the reasons for its inefficiency include that the pyramidal equity structure is conducive to control, the separation of cash flow rights and control rights, the concentration of equity leads to poor balance, the abandonment of real industries and information asymmetry.

Keywords: tomorrow group, internal capital market, related-party transactions, Baotou tomorrow technology Co., LTD

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Authors: Ofosuhene O. Apenteng, Noor Azina Ismail

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Recently tourism is a major foreign exchange earner in the World. In this paper, we propose the mathematical model to study the impact of tourists on the spread of HIV incidences using compartmental differential equation models. Simulation studies of reproduction number are used to demonstrate new insights on the spread of HIV disease. The periodogram analysis of a time series was used to determine the speed at which the disease is spread. The results indicate that with the persistent flow of tourism into a country, the disease status has increased the epidemic rate. The result suggests that the government must put more control on illegal prostitution, unprotected sexual activity as well as to emphasis on prevention policies that include the safe sexual activity through the campaign by the tourism board.

Keywords: HIV/AIDS, mathematical transmission modeling, tourists, stability, simulation

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Authors: Yasir Khan, Qiu Bin, Antonio-Mihi Ramirez

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This study determines the inflow of international students to China in recent years and the corresponding internationalization strategies in the higher education sector. China has placed attracting international students on in its plan along with the growing of global impact. Acknowledging the stable economy, growth rate, trade, lower renminbi rate, high wages, employment opportunities, high level income per capita, relative low taxes and political system consolidate to attract more international students. A large number of international students making a vast contribution to the higher education sector of China. Understanding the significance of education mission as well as of financial ‘bottom line’ the Chinese government gave great importance to invite more international students from worldwide. The large number of international students in the China has been particularly notable from Asian countries specifically neighboring countries, Pakistan, Thailand, India, Vietnam, South Korea, Magnolia, Malaysia, and Russia. This study summarizes internationalization of higher education in China and also provides directions for future research in this regard.

Keywords: international student mobility, 2020 Govt Planning, emerging market, internationalization of higher education

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Authors: Gultekin Gurcay

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In this paper, effects and responses of stock were analyzed. This analysis was done periodically. The dimensions of the financial crisis impact on the stock market were investigated by GARCH model. In this context, S&P 500 stock market is modeled with DAX, NIKKEI and BIST100. In this way, The effects of the changing in S&P 500 stock market were examined on European and Asian stock markets. Conditional variance coefficient will be calculated through garch model. The scope of the crisis period, the conditional covariance coefficient will be analyzed comparatively.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

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Authors: Julia Gurol

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Why do we observe a shift towards convergence in EU-China security interests? While contradicting attitudes towards key principles of inter-state and region-to-state relations, including state sovereignty, territorial integrity, and intervention policies have ever since hindered EU-China inter-regional cooperation beyond the economic realm, collaboration in peace and security issues is now becoming a key pillar of European-Chinese relations. In addition, the Belt and Road Initiative as most ambitious Chinese foreign policy project explicitly touches upon several European foreign policy and security preferences. Based on these counterintuitive findings, this paper traces the process of convergence of Sino-European security interests. Drawing on qualitative text analysis of official Chinese and European policy papers and documents from the establishment of diplomatic relations in 1975 until today, it assesses the striking change over time. On this basis, the paper uses theories of neo-functionalism, inter-regionalism, and securitization and borrows from constructivist views in International Relations’ theory, to expound possible motives for the change in Chinese and respectively European preferences in the security realm. The results reveal interesting insights into the decisive factors and motives behind both countries’ foreign policies. The paper concludes with a discussion of further potential and difficulties of EU-China security cooperation.

Keywords: belt and road initiative, China, European Union, foreign policy, neo-functionalism, security

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Authors: Lai Yi-Hsiu

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The present paper aims to examine the language processing of Chinese-speaking seniors with Alzheimer’s disease (AD) from the perspective of temporal cues. Twenty healthy adults, 17 healthy seniors, and 13 seniors with AD in Taiwan participated in this study to tell stories based on two sets of pictures. Nine temporal cues were fetched and analyzed. Oral productions in Mandarin Chinese were compared and discussed to examine to what extent and in what way these three groups of participants performed with significant differences. Results indicated that the age effects were significant in filled pauses. The dementia effects were significant in mean duration of pauses, empty pauses, filled pauses, lexical pauses, normalized mean duration of filled pauses and lexical pauses. The findings reported in the current paper help characterize the nature of language processing in seniors with or without AD, and contribute to the interactions between the AD neural mechanism and their temporal parameters.

Keywords: language processing, Alzheimer’s disease, Mandarin Chinese, temporal cues

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Authors: Tarik Bazgour, Cedric Heuchenne, Danielle Sougne

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We examine time variation in the market beta of portfolios sorted on quality, liquidity level and liquidity beta characteristics across stock market phases. Using US stock market data for the period 1970-2010, we find, first, the US stock market was driven by four regimes. Second, during the crisis regime, low (high) quality, high (low) liquidity beta and illiquid (liquid) stocks exhibit an increase (a decrease) in their market betas. This finding is consistent with the flight-to-quality and liquidity phenomena. Third, we document the same pattern across stocks when the market volatility is low. We argue that, during low volatility times, investors shift their portfolios towards low quality and illiquid stocks to seek portfolio gains. The pattern observed in the tranquil regime can be, therefore, explained by a flight-to-low-quality and to illiquidity. Finally, our results reveal that liquidity level is more important than liquidity beta during the crisis regime.

Keywords: financial crises, quality, liquidity, liquidity risk, regime-switching models

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Authors: Shaheena Erkiah, Adjnu Damar Ladkoo

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Worldwide, improving tourism competitiveness has been on the agendas of many stakeholders of the hotel sector, and they seem to have agreed that one of the best ways to compete is via the implementation of electronic customer relationship management (e-CRM). In so doing, the organizations enjoy strategic positioning on the competitive market by managing better not only the customers but, other business components including knowledge and employee management. Over the recent years, the tourism industry in Mauritius has witnessed a drastic economic boom at international and national levels; providing a new outlook to boost business performance through existing and potential customers. E-CRM has been one of the management tools used to achieving this position. Thus, this insightful context- Mauritius- was opted for the study. The aim was to assess the effectiveness of e-CRM as a strategic tool in the hotel sector in Mauritius through the implementation of business strategy to create competitive advantage and impact on the business performance. To achieve the objectives of the study, a quantitative research methodology was adopted and the research revealed that e-CRM is indeed an effective strategic tool in the hotel industry in Mauritius that can provide a competitive advantage and impact positively on the organization’s performance.

Keywords: customer, electronic, management, relationship, strategic

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Authors: Deeksha Arora

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The study aims to explore the applicability of the widely used asset pricing models, namely, Capital Asset Pricing Model (CAPM) and the Fama-French Four Factor Model in the Indian equity market. The study will be based on the companies that form part of the Nifty Fifty Index for a period of five years: 2011 to 2016. The asset pricing model is examined by forming portfolios on the basis of three variables – market capitalization (size effect), book-to-market equity ratio (value effect) and profitability. The study provides a basis to test the presence of the Fama-French Four factor model in Indian stock market. This study may provide a basis for future research in the generalized asset pricing model comprising of multiple risk factors.

Keywords: book to market equity, Fama French four factor model, market capitalization, profitability, size effect, value effect

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Authors: E. Erdogan, H. A. Erdogan

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FengShui, an old Chinese discipline, dates back to more than 5000 years, is one of the design principles that aim at creating habitable and sustainable spaces in harmony with nature by systematizing data within its own structure. Having emerged from Chinese mysticism and embodying elements of faith in its principles, FengShui argues that the positive energy in the environment channels human behavior and psychology. This argument is supported with the thesis of quantum physics that ‘everything is made up of energy’ and gains an important place. In spaces where living and working take place with several principles and systematized rules, FengShui promises a happier, more peaceful and comfortable life by influencing human psychology, acts, and soul as well as the professional and social life of the individual. Observing these design properties in houses, workplaces, offices, the environment, and daily life as a design paradigm is significant. In this study, how FengShui, a Central Asian culture emanated from Chinese mysticism, shapes design and how it is used as an element of sustainable design will be explained.

Keywords: Feng Shui, design principle, sustainability, philosophy

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Authors: Marine Kobalava

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The article analyzes the level of Georgia's tourism potential usage during the pandemic. The conclusion is drawnthat Georgia, as a tourism brand, is in a significant crisis at this stage, revenues from this sector have been substantially reduced, communication with potential customers is interrupted, no international marketing and PR communication strategies have been developed for the post-pandemic period. In order to rehabilitate the tourism industry of Georgia, it is considered vital to take measures using international marketing and PR communication strategies adjusted to the needs of the sectorthat will improve the use of tourism potential and stimulate the development of the sector. The goal of the research is to identify the factors hindering the use of tourism potential in the direction of international marketing and PR communication strategies in the post-pandemic period and to develop recommendations on ways to solve them. Research methods. The paper uses various theoretical and methodological tools of research, including Bibliographic research has been conducted on the main research issues; Analysis, synthesis, induction, and other methods are used to select and group data, identify similarities and differences, and identify trends; Endogenous and exogenous factors affecting the field of tourism have been studied by means of SWOT and PESTEL analyzes. A comparison model is used to analyze the strategy documents. Primary accounting materials are obtained from the National Statistics Office and the relevant ministries. Based on the results of the research, the directions of correct positioning of tourism products and marketing communication in the post-pandemic period have been developed. It is substantiated that a short-term international marketing strategy should include: probable goals of communication, maintaining a position on a potential traveler's “radar,” focusing communication on key motivating factors (gastronomy, winemaking, folklore, protected areas, mountainous regions). From a marketing point of view, it is important: holding international marketing events, compiling a list of target countries, formation of stimulus mechanisms, development of incentive programs for international tour operators, etc. The paper draws conclusions about the problems of using the tourism potential, recommendations on ways to solve this problems through international marketing and PR communication strategies are offered

Keywords: PR communication, international marketing strategy, tourism potential, post-pandemic period

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Authors: Mohammad A. R. S. Almutairi

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This study will provide the introduction that constitutes the problem cornerstone of legal disputes of disclosure and transparency under Kuwaiti Capital market authority Law No. 7 of 2010. It also will discuss the reasons for the emergence of corporate governance and its purposes in the Capital Market Authority Law in Kuwait. In addition, it will show the legal disputes resulting from the unclear concept of disclosure and interest and will discuss the main reasons in support of the possible solution. In addition, this study will argue why the Capital Market Authority Law in Kuwait needs a clear concept and a straight structure of disclosure under section 100. This study will demonstrate why a clear disclosure is led to a better application of the law. This study will demonstrate the fairness in applying the law regarding the punishment against individual, companies and securities market. Furthermore, it will discuss added confidence between investors and the stock market with a clear concept under section 100. Finally, it will summarize arises problem and possible solution.

Keywords: corporate governors, disclosure, transparency, fairness

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Authors: Fengmei Li, Li Xu, Guoliang Xia

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Whey acidic proteins (WAP) domain-containing proteins in crustacean are involved in innate immune response against microbial invasion. In the present study, a novel double WAP domain (DWD)-containing protein gene 3 was identified from Chinese mitten crab Eriocheir sinensis (designated EsDWD3) by expressed sequence tag (EST) analysis and PCR techniques. The full-length cDNA of EsDWD3 was of 1223 bp, consisting of a 5′-terminal untranslated region (UTR) of 74 bp, a 3′ UTR of 727 bp with a polyadenylation signal sequence AATAAA and a polyA tail, and an open reading frame (ORF) of 423 bp. The ORF encoded a polypeptide of 140 amino acids with a signal peptide of 22 amino acids. The deduced protein sequence EsDWD3 showed 96.4 % amino acid similar to other reported EsDWD1 from E. sinensis, and phylogenetic tree analysis revealed that EsDWD3 had closer relationships with the reported two double WAP domain-containing proteins of E. sinensis species.

Keywords: Chinese mitten crab, Eriocheir sinensis, cloning, double WAP domain-containing protein

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Authors: Oliver Takawira, Thembi Hope

Abstract:

This study will analyse the relationship between Bitcoin price movements and the Johannesburg stock exchange (JSE). The aim is to determine whether Bitcoin price movements affect the stock market performance. As crypto currencies continue to gain prominence as a safe asset during periods of economic distress, this raises the question of whether Bitcoin’s prosperity could affect investment in the stock market. To identify the existence of a short run and long run linear relationship, the study will apply the Autoregressive Distributed Lag Model (ARDL) bounds test and a Vector Error Correction Model (VECM) after testing the data for unit roots and cointegration using the Augmented Dicker Fuller (ADF) and Phillips-Perron (PP). The Non-Linear Auto Regressive Distributed Lag (NARDL) will then be used to check if there is a non-linear relationship between bitcoin prices and stock market prices.

Keywords: bitcoin, stock market, interest rates, ARDL

Procedia PDF Downloads 97

Authors: Yuanxiang Miao

Abstract:

This paper aims to examine the perceptual features of couchsurfers on a new hospitality tourism platform, the free homestay website couchsurfing. As a local host, the author has accepted 61 couchsurfers in Kyoto, Japan, and attempted to figure out couchsurfers' characteristics on perception by hosting them. Moreover, the methodology of this research is mainly based on in-depth interviews, by talking with couchsurfers, observing their behaviors, doing questionnaires, etc. Five dominant perceptual features of couchsurfers were identified: (1) Trusting; (2) Meeting; (3) Sharing; (4) Reciprocity; (5) Worries. The value of this research lies in figuring out a deeper understanding of the perceptual features of couchsurfers, and the author indeed hosted and stayed with 61 couchsurfers from 30 countries and areas over one year. Lastly, the author offers practical suggestions for future research.

Keywords: couchsurfing, depth interview, hospitality tourism, perceptual features

Procedia PDF Downloads 140

Authors: Gamze Safak, Umut Arslanoglu

Abstract:

Cultural and tourism conservation and development zones and tourism centers are the boundaries declared for the purpose of protecting, using, and evaluating the sectoral development and planned development in areas where historical and cultural values are heavily involved and/or where tourism potential is high. The most rapidly changing regions in Turkey are tourism areas, especially the coastal areas. Planning these regions is not about only an economic gain but also a natural and physical environment and refers to a complex process. If the tourism sector is not well controlled, excessive use of natural resources and wrong location choices may cause damage to natural areas, historical values, and socio-cultural structure. Since the strategic decisions taken in the environmental order and zoning plans, which are the means of guiding the physical environment of the Ministry of Culture and Tourism, which have the authority to make plans in tourism centers, are transformed into plan decisions that find the spatial expression, comprehensive evaluation of all kinds of data, following the historical development and based on the correct and current data is required. In addition, the authority has a number of competences in tourism promotion as well as the authority to plan, leading to the necessity of taking part in the applications requiring complex analysis such as the management and integration of the country's economic, political, social and cultural resources. For this purpose, Tourism Inventory System (TES) project, which consists of a series of subsystems, has been developed in order to solve complex planning and method problems in the management of site-related information. The scope of the project is based on the integration of numerical and verbal data in the regions within the jurisdiction of the authority, and the monitoring of the historical development of urban planning studies, making the spatial data of the institution easily accessible, shared, questionable and traceable in international standards. A dynamic and continuous system design has been put into practice by utilizing the advantage of the use of Geographical Information Systems in the planning process to play a role in making the right decisions, revealing the tools of social, economic, cultural development, and preservation of natural and cultural values. This paper, which is prepared by the project team members in TES (Tourism Inventory System), will present a study regarding the applicability of GIS in cultural and natural heritage conservation.

Keywords: cultural conservation, GIS, geographic information system, tourism inventory system, urban planning

Procedia PDF Downloads 113

Authors: Chukwu J. C., Elujoba E. T., AjaniI A. A., Aiyegbayo O. O.

Abstract:

Handcrafts form an integral part of the tourist experience, they represent local traditions and indigenous populations and also as valuable souvenir. The local craft sector is performing at a level far below its potential as a tourism product, hence, this paper seek to examine the challenges facing local handcraft development and suggest ways to promote and package them as souvenirs in tourist destinations in Osun state. One hundred and sixty (160) questionnaires were administered to the staffers and tourists in Osun Osogbo grove and Erin Ijesa waterfall, both in Osun state and 120 questionnaires were properly filled and returned, which gives 75% return rate. Cronbach’s Alpha was used to test the reliability of the research instrument. The findings of the study revealed that ( F_((1,118))= 2.070, r = .151, Sig.< 0.05) there exist a weak and positive relationship between local craft development and the overall development of tourist destinations in Osun state, Nigeria. Therefore, it was concluded, among others, that a lot needs to be done on packaging and promotion of the local handcraft since it was found to have a significant impact on the development of tourist destinations. This, in return, will increase the popularity and acceptability of handcraft both at home and abroad. The study recommends, among others, that government should establish a tourism entrepreneurial development centre charged with the responsibilities of creating and identifying tourism business opportunities and act as ‘one stop shop’ to purchase a local souvenir and disseminate information to potential tourist cum entrepreneurs in the tourism industry.

Keywords: packaging, promotion, handcraft, tourism, development

Procedia PDF Downloads 106