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Modelling and Optimization for the Employment of Full-Time and Part-Time Drivers in Ride-Hailing Platforms
Chunhui Liu,
Yangguang Lu
Issue:
Volume 9, Issue 6, December 2021
Pages:
221-224
Received:
18 October 2021
Accepted:
5 November 2021
Published:
12 November 2021
Abstract: The employment strategy is of great significance to improve the performances of the ride-hailing platforms. This paper establishes a nonlinear programming model to characterize the employment problem of a ride-hailing platform where full-time drivers and part-time drivers coexist, facing a month-varied daily market size. The daily online time of the full-time drivers is assumed to be fixed, while the daily online time of the part-time drivers is self-scheduled. The objective of the decision model is to maximize the total effective demand of the ride-hailing platform, and the constraints are to guarantee the minimum income of both the full-time and part-time drivers. By solving the models, we find the decision problem can be simplified as a linear programming model and the optimal numbers of full-time drivers and part-time drivers are derived. Theoretical results show that it is optimal for the ride-hailing platform to employ only part-time drivers if the cap of number of part-time drivers is sufficiently high, and the number of part-time drivers satisfies that the expected income per unit time during the month with the minimum daily market size equals the required minimum income. Otherwise, if the cap of number of part-time drivers is not sufficiently high, full-time drivers and part-time drivers will coexist. Finally, a numerical experiment is conducted to illustrate the theoretical results.
Abstract: The employment strategy is of great significance to improve the performances of the ride-hailing platforms. This paper establishes a nonlinear programming model to characterize the employment problem of a ride-hailing platform where full-time drivers and part-time drivers coexist, facing a month-varied daily market size. The daily online time of th...
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Assist the Rural Revitalization of Yantai City: Promote the Cultural Brand Construction of Xiaojia Village, Fushan District, Yantai City
Issue:
Volume 9, Issue 6, December 2021
Pages:
225-230
Received:
21 October 2021
Accepted:
15 November 2021
Published:
17 November 2021
Abstract: The rural revitalization strategy proposed at the 19th National Congress of the Communist Party of China (CPC) is based on the fact that the CPC Central Committee with General Secretary Xi Jinping at its core has acted with the overall cause of the Party and the country in mind, grasped the laws governing modernization and the changing nature of urban-rural relations, responded to the aspirations of hundreds of millions of rural residents for a better life, and made major decisions and plans on agriculture, rural areas and farmers. It is a major historical task of securing a decisive victory in finishing building a moderately prosperous society in all respects and building a modern socialist country in all respects. It is the overall focus of our work related to agriculture, rural areas and farmers in the new era. In this paper, xiaojia Village, Fushan District, Yantai city as an example, through vigorously developing characteristic industries; We will promote agricultural restructuring, accelerate rural infrastructure development, and shore up weak links in agriculture and rural areas. Supporting the development of rural tourism and ecotourism; Strengthen the construction of rural ecological environment; Create a good environment for the development of scientific and technological talents, and provide support for agricultural science and technology and human resources; We will deepen the construction of spiritual civilization in rural areas and improve the quality of farmers and the level of social civilization in rural areas.
Abstract: The rural revitalization strategy proposed at the 19th National Congress of the Communist Party of China (CPC) is based on the fact that the CPC Central Committee with General Secretary Xi Jinping at its core has acted with the overall cause of the Party and the country in mind, grasped the laws governing modernization and the changing nature of ur...
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Research on Culture Development Strategy of Sino-foreign Joint Venture Automobile Manufacturing Enterprises
Huang Ying,
Shang Hao,
Zhao Wenxuan
Issue:
Volume 9, Issue 6, December 2021
Pages:
231-235
Received:
26 October 2021
Accepted:
15 November 2021
Published:
17 November 2021
Abstract: Automobile manufacturing enterprises develop fast, focusing on hardware upgrading, quality control and other issues to implement innovation as well. However, looking back on its steady development, its deep “Soft strength”is even more essential in addition to the need to have“Hard strength”. Construction of enterprise culture has become an important way to support enterprise management and become one of the core competitiveness of sustainable development of enterprises. The lag of company culture development is an essential factor that hinders its sustainable development for large sino-foreign joint venture automobile manufacturing enterprises. Corporate culture construction is a systematic, long-term and continuous internalization process. Excellent corporate culture can lead the development of the enterprise continuously, and also can Down to Earth the reality of the enterprise Combined with the new characteristics and problems in the development of Chinese automobile manufacturing enterprises. This paper conducted an in-depth research on the current situation, existing problems and primary cause of the culture construction of SGMW. The optimizing strategy of SGMW culture development is analyzed combining with new development tendency of sino-foreign joint venture automobile manufacturing enterprises and the corresponding requirement of culture progress. This paper proposes the culture construction localization strategy in terms of spirit, system and behavior culture, in order to provide reference and reference for more automobile manufacturing enterprise culture construction.
Abstract: Automobile manufacturing enterprises develop fast, focusing on hardware upgrading, quality control and other issues to implement innovation as well. However, looking back on its steady development, its deep “Soft strength”is even more essential in addition to the need to have“Hard strength”. Construction of enterprise culture has become an importan...
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Research on the Impact of Standardization on Economic Growth
Issue:
Volume 9, Issue 6, December 2021
Pages:
236-241
Received:
5 November 2021
Accepted:
23 November 2021
Published:
27 November 2021
Abstract: The relationship between standardization and economic growth has received increasing attention. This article first gives different classifications of standards, including classification based on economic purposes. The analysis shows that standards have economic effects in reducing information asymmetry, promoting economies of scale, expanding division of labor, and accelerating technology transfer and diffusion. The research literature of foreign standards on economic growth shows that standards are an important factor in promoting economic growth. Empirical results (mainly based on the Cobb-Douglas production function or VAR model) show that there is a significant positive correlation between standards and economic growth, and standards can effectively promote Economic growth. In addition, the Granger causality test between the standard and economic growth points out that economic growth is the Granger reason for the standard, indicating that the standard is not an exogenous variable independent of the economic system, and the standard level is affected by the economic level of a country. It is an endogenous variable determined by the economic system. At the end of the article, it also gives suggestions on possible future research directions, from the perspectives of the impact of splitting to standard sub-categories, management standards, economic growth quality, and institutional economics.
Abstract: The relationship between standardization and economic growth has received increasing attention. This article first gives different classifications of standards, including classification based on economic purposes. The analysis shows that standards have economic effects in reducing information asymmetry, promoting economies of scale, expanding divis...
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Predicting Enterprise Performance by Network-Based Risk Profiling Approach
Longda Tong,
Song Yin,
Dongdong Hu,
Zhaoyuan Li
Issue:
Volume 9, Issue 6, December 2021
Pages:
242-249
Received:
4 November 2021
Accepted:
24 November 2021
Published:
2 December 2021
Abstract: Deriving the firms’ risk profile based on specific features has important implications in risk controlling and investment. Recently, much research demonstrates that the firms’ ownership networks substantially impact the firms’ risk profile. In this paper, we propose a framework of risk profiling approach built upon information retrieved from the firm's ownership networks. The method considers the non-linear relationships between firm fundamentals with network structures. To test the performance of the proposed method, we construct a new dataset of Chinese listed firms with their financials and network parameters in the period between 2005 and 2020. We show that the proposed method significantly outperforms traditional ones in predicting a firm's market value changes. Specifically, we first use the conventional linear method, like logistic regression and linear discriminant analysis, as the performance benchmark. Then, the more advanced technique based on information theory like Gradient Boosting is adopted and has shown remarkable performance with at least 85% area under the curve (AUC) compared with the 60% AUC of the traditional linear model. The proposed method has implications in risk management, portfolio management, and corporate finance. As a special implication example in risk management, we demonstrate that a network-based approach can effectively detect duplication of individual names in a unique dataset.
Abstract: Deriving the firms’ risk profile based on specific features has important implications in risk controlling and investment. Recently, much research demonstrates that the firms’ ownership networks substantially impact the firms’ risk profile. In this paper, we propose a framework of risk profiling approach built upon information retrieved from the fi...
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The Impact of Artificial Intelligence on Future Labor Markets
Issue:
Volume 9, Issue 6, December 2021
Pages:
250-259
Received:
21 September 2021
Accepted:
9 October 2021
Published:
24 December 2021
Abstract: Historically, mechanization and the current artificial intelligence trend have been considered as threats to job stability despite the fact that statistics on production and employment have shown the opposite. The COVID-19 pandemic in 2020-21 stimulated robotization in all types of industry with the substitution of labor, raising unemployment, however, there is evidence of its reduction. The purpose of this work is to show how despite the inevitable robotization and the destruction of jobs, new trades and professions will develop in the same way as happened in the three previous revolutions, including all sectors of goods, services and the military. Without falling into the repetition of the already known history, reference is made to recent publications confronting them with the technological trend inherited from the 20th century, business behaviors in the face of COVID-19 and its effect on the future labor market. Statistics show positive aspects such as fast and efficient adaptation by highly qualified companies and employees. There are negative effects such as the loss of competitiveness of low-skilled workers; loss of bargaining power of unions; increase in the gender pay gap; widening gap between high-tech industrialized countries and underdeveloped ones. It is concluded that immediate changes are required in the reorientation of educational programs towards technological careers, labor reforms, financial reforms. The gap between high-tech industrialized countries and underdeveloped ones will undoubtedly widen unless the latter implement radical and pragmatic changes in their economic policies.
Abstract: Historically, mechanization and the current artificial intelligence trend have been considered as threats to job stability despite the fact that statistics on production and employment have shown the opposite. The COVID-19 pandemic in 2020-21 stimulated robotization in all types of industry with the substitution of labor, raising unemployment, howe...
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Enhanced Index-Tracking Strategies Based on Systemic Financial Shocks: A Comparison of Countries Versus Sectors Investments
Massimiliano Kaucic,
Giorgio Valentinuz,
Rosario Maggistro,
Michele Morganti
Issue:
Volume 9, Issue 6, December 2021
Pages:
260-270
Received:
29 November 2021
Accepted:
16 December 2021
Published:
24 December 2021
Abstract: Since the launch of the first replicating funds in the 1970s, index-linked strategies have captured the interest of equity investors. On the one hand, active investing does not generally lead to higher risk-adjusted returns than a passive approach. On the other hand, passive vehicles cannot optimize the risk exposure to the equity markets without introducing elements of active management. The enhanced index-tracking offers all the advantages of traditional passive investing but aims to generate better returns than the reference benchmark. However, in the last decades, the financial system integration increased, reducing the diversification opportunities across markets, and meanwhile, more and more frequent extreme events affected the world. This amplified systemic instability caused unsatisfactory results even for these investment strategies. To better manage the markets turmoil and reduce losses, we propose alternative portfolio designs to improve the traditional index-tracking techniques. We include the systemic risks directly into the enhanced indexation problem and impose a minimum guaranteed extra-return on the benchmark with turnover control. The analysis builds on country and industry allocation policies in selected European markets from January 2004 to October 2021. Our findings prove that the proposed strategies generate consistent excess returns over the benchmark and outperform other indexing strategies and the equally weighted and risk parity portfolios.
Abstract: Since the launch of the first replicating funds in the 1970s, index-linked strategies have captured the interest of equity investors. On the one hand, active investing does not generally lead to higher risk-adjusted returns than a passive approach. On the other hand, passive vehicles cannot optimize the risk exposure to the equity markets without i...
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Strategic Brand Extension and Organizational Performance of Selected Beverage Firms in Nigeria
Ekure Friday Ovovwero Marcus,
Bereprebofa Dudutari,
Abonyi Ikechukwu Igwulube,
Ireneusc Nwaizugbo,
Eleje Edward Ogbonnia
Issue:
Volume 9, Issue 6, December 2021
Pages:
271-284
Received:
21 October 2021
Accepted:
6 December 2021
Published:
31 December 2021
Abstract: This study investigates the impact of strategic brand extension on organizational performance of selected beverage firms in Nigeria. The brand concept has come a long way especially during the product marketing times, where branding and management of brands played a huge role in creating differentiation and product preference in consumers’ mind. Brand extensions as a contemporary concept maximizes on brand name equity already established. Core brand names that customers are familiar with aid products newly entering the market and enable them quickly capture new market segments. Locally, adequate research attention has not been directed in area of strategies for brand extension. There appears to be existing gap for a study to be developed that looks into how strategies on brand extension affects local firm performance. The main focus of this study therefore, is to investigate the importance of strategic brand extension on the performance of beverage production companies in Nigeria. The sample size was determined using Taro Yemen's approach, and respondents were chosen using the survey research design method. The statistical approaches used were simple percentages and multiple regressions. According to the findings, all of the variables studied in this study, such as category expansion, line extension, existing family brand, and brand awareness, were positive and significant drivers to marketing performance. Brand awareness, existing family brand extension, and category extension have the most influence, followed by line growth. The study discovered that features of brand growth strategy have a positive impact on soft drink businesses' marketing success in Nigeria. As a result, the study recommends that a new or existing soft drink company in Nigeria work hard to develop a brand expansion strategy in order to increase marketing performance, among other things.
Abstract: This study investigates the impact of strategic brand extension on organizational performance of selected beverage firms in Nigeria. The brand concept has come a long way especially during the product marketing times, where branding and management of brands played a huge role in creating differentiation and product preference in consumers’ mind. Br...
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The Stock Price Response to the Resolution of Stock Distributions, Order Imbalances, and the Market Maker
Rong Guo,
Kristian Rydqvist
Issue:
Volume 9, Issue 6, December 2021
Pages:
285-296
Received:
19 November 2021
Accepted:
20 December 2021
Published:
31 December 2021
Abstract: We re-examine the abnormal stock return over the ex-right day of stock splits, stock dividends, and rights offers. The average abnormal stock return for stock splits equals 0.45%, for stock dividends equals 0.83%, and for rights offers equals 1.74%. These abnormal returns suggest that stock distributions incur handling costs that we refer to as nuisance. Regression analysis of the abnormal stock return on the bid-ask spread suggests that an underlying nuisance cost in the amount of 0.57% (across stock distribution types) of the stock price and a bid-ask bounce that occurs with a probability of 23% capture the essential cross-section (across stock distribution types) and time-series variation in the abnormal stock return. However, further analysis of the behavior of bid and ask quotes questions the bid-ask-bounce interpretation. Specifically, the bid-ask midpoint changes one-to-one with the changes in the bid and ask quotes, respectively, which suggests that market makers do not eliminate the nuisance cost from stock distributions. The nuisance cost of stock distributions decreases over time, and it vanishes entirely with high-frequency trading. Presumably, stock distributions are not nuisance for computers. With the development of the internet, share price management largely falls out of fashion, and stock distributions are no longer a concern.
Abstract: We re-examine the abnormal stock return over the ex-right day of stock splits, stock dividends, and rights offers. The average abnormal stock return for stock splits equals 0.45%, for stock dividends equals 0.83%, and for rights offers equals 1.74%. These abnormal returns suggest that stock distributions incur handling costs that we refer to as nui...
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