• Volume 17,Issue 4,2014 Table of Contents
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    • Empirical research on intention of lean construction implementation based on TAM theory

      2014, 17(4):1-10.

      Abstract (177) HTML (0) PDF 272.00 K (852) Comment (0) Favorites

      Abstract:Based on the analysis of literatures,interview practices and the theory of technology acceptance model,the paper shows the main factors and channels affecting the intention of lean construction implementation and further constructs a conceptual mode.We identify the measurement items of the formal survey questionnaire through project preparation,project analysis and exploratory factor analysis,and then test the conceptual mode by the empirical method.We arrive at the following conclusions: all factors affecting the intention of lean construction implementation reach the significance levels except the environmental factor which certifies that the conceptual mode we propose can better explain the regular pattern in the staff implementation process of lean construction.Some recommendations facilitating the implementation of lean construction in China’s enterprises are brought forward.

    • Multi-criteria decision making model based on interval-valued intuitionistic fuzzy number correlation coefficient

      2014, 17(4):1-8.

      Abstract (210) HTML (0) PDF 310.54 K (910) Comment (0) Favorites

      Abstract:A multi-criteria fuzzy decision-making method based on weighted interval-valued intuitionistic fuzzy number correlation coefficients is proposed for some situations where the information about criteria weights for alternatives is completely unknown.It hopes to supplement the insufficiency of the method based on distance measure of IVIFSs.Meanwhile this method reduces the loss of evaluation information by taking into account the influence of hesitancy degree.A non-linear programming model is established based on the maximization of the correlation coefficient between each alternative and the ideal ( critical) alternative.The model can be used to get the criteria weights from a new perspective.Then,we proposed a relative closeness of the weighted correlation coefficients between an alternative and the ideal alternative in order to rank the alternatives.Finally,a comparative analysis demonstrates the effectiveness of the proposed method.

    • Research on the dynamics of psychological contract through stochastic cusp catastrophe theory

      2014, 17(4):1-13.

      Abstract (158) HTML (0) PDF 844.48 K (862) Comment (0) Favorites

      Abstract:The evolutionary dynamics of psychological contract is characterized by uncertainty,nonlinearity,and catastrophes,thus it is modeled by stochastic cusp catastrophe theory to analyze the dynamics of fulfillment—breach on psychological contract.A behavioral variable ( i.e.,perception of psychological contract) and independent control variables ( i. e. ,personality and organizational context) are introduced.This paper is the first attempt to fit a cusp catastrophe model to the data by cuspfit software.The conclusions are that: 1) The organizational context,as a normal factor,and personality,as a splitting factor,play important roles in the catastrophe of psychological contract simultaneously; 2) There are two different kinds of discrete changes on psychological contract: turbulent sudden jumps and structural catastrophes; 3) There exist turbulent sud_x005fden jumps because of external disturbance when the control variables are in the bifurcation set,while structural catastrophes will result from self-organization when they cross the border of the bifurcation set; 4) The existence of hysteresis can explain why a psychological contract could not be easily repaired once it breaches.

    • Pricing credit derivatives with jumps in interest rates

      2014, 17(4):1-15.

      Abstract (125) HTML (0) PDF 286.19 K (904) Comment (0) Favorites

      Abstract:In this paper,we study the valuation of credit derivatives with jumps in interest rates and propose a general pricing model under the linear-quadratic jump-diffusion framework.Jumps in interest rates would influence intensities of default times,which decide the default possibilities that determine the prices of credit derivatives.We let the components of linear-quadratic process be cross-exciting and facilitate the description of complex event dependence structures.To illustrate how our model works,we make an application on CDS under the specific underlying processes,and an explicit formula of the fair CDS spread can be obtained through a system of matrix Riccati equations.

    • Two kinds of queuing management policy for improving customer satisfaction with waiting

      2014, 17(4):1-11.

      Abstract (288) HTML (0) PDF 384.56 K (1135) Comment (0) Favorites

      Abstract:According to the psychology of waiting lines,a good queuing management policy can largely improve the customer satisfaction with waiting.Inspired by that,this paper compares two kinds of queuing management policies alternatively applied by a capital-constrained service system to improve customer satisfaction with waiting: One is to offer extra service to the customers ranked less than N in queue ( policy H) ,and the other is to offer extra service to the customers ranked over N ( policy T) .In this paper,we model the service system as an M/M/1 queuing system and give the optimal design for each kind of policy.Our numerical examples show that the performances of these two kinds of policies vary significantly under different budgets and different service loads.When the budget is large,if the service load is low or the extra service makes a large difference to customer feeling of delay,policy H dominates policy T.When the budget is small and the service load is low,policy T dominates policy H.Finally,when the budget is small and the extra service makes a small difference,the effects of both policies are not significant.

    • Natural disasters and social violences events and stock prices

      2014, 17(4):1-15.

      Abstract (188) HTML (0) PDF 478.71 K (9610) Comment (0) Favorites

      Abstract:This paper quantitatively compares the effects of natural disasters and social violence events would have on stock prices. Two natural disasters and two social violence event are selected as samples: Sichuan “5. 12”earthquake; Qinghai“4. 14”earthquake; Tibet“3. 14”incident; and Xinjiang“7. 5”incident. The results indicate: 1,both natural disasters and social violence event have significant negative impacts on stock prices of the listed companies where the events took place,among which“3.14”incident had the most significant effects in the short run while“5.12”earthquake had the most significant effects in the long run; 2,the impacts of two earthquakes on the prices lasted for 19 days and 8 days respectively and those of the two social violence event lasted for 7 days and 6 days—respectively natural disasters have longer impacts on stock prices than social violence event do; 3,the two earthquakes brought about 30% value losses to the stock market,Tibet“3.14”incident brought about 15% losses while the“7.5”incident brought no value losses; 4,shocks on stock prices had contagious effects.The prices of the affected stocks and their matching stocks went up and down synchronously and investors tended to chase the trends by selling low and buying high Besides,some other interesting results are drawn from our empirical study e.g.when similar events took place for the second time,the investors showed their learning ability; and no matter in natural disasters or social violence event,nationalism was observed in stock markets where both incidents were not welcomed by investors.

    • Network structure and systemic risk by banks

      2014, 17(4):1-14.

      Abstract (218) HTML (0) PDF 1.89 M (894) Comment (0) Favorites

      Abstract:In recent years,systemic risk by banks has become an important issue in finance research area.In this paper,we build a novel research framework to measure the inter-bank default contagion and systemic risk by banks.Under the framework,the problem of default algorithm in the present researches is pointed out and rectified.Moreover,the way of establishing scale-free network is put forward to simulate the inter-bank network.It is found that: more banks are infected in a higher-centralized network; the total assets of failed banks are less in higher-centralized networks when there are less banks suffering fundamental defaults.Furthermore, the influence of default contagion caused by large-bank failures in highly-centralized networks is bigger than that in low-centralized networks.Although small-bank failures do not easily bring about contagion,reaching a certain scale,they will also lead to large-bank failures contagiously.

    • Effect of information disclosure mechanism on free riding behavior: Evidence from laboratory

      2014, 17(4):1-9.

      Abstract (173) HTML (0) PDF 163.10 K (941) Comment (0) Favorites

      Abstract:Taking advantage of the framework of the‘Private Account’and‘Public Account’,this paper designs four experiments to study the effect of information disclosure mechanism (IDM) on reducing free riding behaviors and to study the stability of IDM.The first experiment is without IDM,the second one is with weak IDM,the third one is with strong IDM and the last one is with repetitive strong IDM.In addition,this paper uses FRI to measure the degree of severity of free riding,and uses Z two-tailed test to analyze data from the experiments.The results show that: ( 1) IDM has significant influence on free riders,while the influence of the strong IDM is more intense than that of the weak IDM; ( 2) the effect of IDM depends on its types,namely the profit-oriented IDM is more likely to trigger free riding while the restriction-oriented IDM has reduce it to some extent because of self-punishers who emerge under the condition of the restriction-oriented IDM; and ( 3) the effect of IDM on reducing free riding is not only unstable but also limited.

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