Search results

In China, having a home before getting married is viewed as being a crucial indicator of the sincerity of romance. Despite recent increases in housing costs, men who have their homes ready for marriage stand out in the marriage market. This study aims to explore the association between readiness to marry, marriage age and the home that men purchase prior to marriage using the China Labor-force Dynamics Survey, the first countrywide follow-up survey with the theme of labor force.

The authors suggest new standards for determining the marital residence. In addition, contrary to the existing literature, which focuses on “Sheng Nu” (women who do not marry by the traditional marriage age in China), the authors focus on “Sheng Nan” (men who do not marry by the traditional marriage age in China).

The results show that men who own a house before marriage are reluctant to get married. The authors document robust evidence that the preexistence of the marital house decreases the willingness to marry and postpones the marriage date, regardless of location and time.

The authors document robust evidence that the preexistence of the marital house decreases the willingness to marry and postpones the marriage date, regardless of location and time.

This paper aims to identify how house price affects household consumption.

The authors use a micro-level data set that tracks the house price and consumption of a vast number of households over a period of four years. OLS regression is the main econometric method.

The authors document robust evidence that an increase in house prices stimulates household consumption, regardless of whether a household owns or rents. Moreover, the authors find that both acquiring and losing homeownership negatively affects household consumption. Further investigation suggests significant regional heterogeneity in the relationship between house prices and household consumption.

This is one of the first studies examining the relationship between house price and household consumption in China using micro-level data. Given the uniqueness of the Chinese housing market and China’s fast-growing consumption rate, the study contributes new evidence to the long-lasting debate.

The purpose of this paper is to study synchronization in stock index cycles across 82 countries and the linkage between macroeconomic and financial integration and stock market synchronization.

The author document the synchronization structure of the world equity index cycles and its evolution over time. The author examine the explanatory power of various economic and financial variables on cycle comovements.

Trade openness, capital openness, and an EU membership contribute to higher stock index cycle synchronization. Additionally, the macroeconomic and financial variables have asymmetric impacts on countries of different development levels.

The author is the first to thoroughly chronicle the turning points, i.e., bear and bull regimes, of world equity indexes and empirically examine determinants of their cyclical comovement across nations.

The purpose of this paper is to investigate the relationship between investors' divergence of opinions and the asset prices of foreign stocks and also examine the effect of home market country-level factors on the influence of divergency of opinions on stock price.

The authors employ panel data estimation with fixed effects to examine the host market response in divergent opinions to the earnings announcements. The paper uses the American Depositary Receipts (ADRs) of 42 countries from 1985 to 2011.

The authors find a negative relationship between differences of opinions and excess quarterly earnings announcement returns, and investors do process information asymmetrically based on good and bad earnings shocks. In addition, the authors find the negative relationship between divergent opinions and excess earnings announcement returns in ADRs is more pronounced in countries with short-sales restrictions, while other home-market country-level factors – the enforcement of insider trading law, legal origin, investor protection and rating on accounting standard – do not influence the relationship between investors' divergency of opinion and stock returns.

This paper is among the first to bring asymmetric effects on convergence in Miller framework and enhance the understanding of price convergence documented in Miller (1977). In addition, this study incorporates home-market country-level factors in explaining the relationship between investors' divergency of opinions and stock returns.

The purpose of this paper is to develop a framework for the manufacturer of a make-to-order company to simultaneously negotiate with multiple customers through mediator to achieve order acceptance decisions (OADs).

The paper developed mathematical models for the manufacturer, as well as customers to revise their offers during negotiations. Moreover, the paper also proposed a method for the mediator to carry out his assigned duties to assist in negotiation. In the decision process, mediator acts as a bridge between the manufacturer and customers to reach an agreement. A numerical example is enumerated to illustrate the working mechanism and superiority of proposed framework as compared to the framework where simultaneous negotiations are carried out without the presence of mediator.

Iterative method of negotiation conducted without mediator leads to delay in reaching agreement as the aspiration level of manufacturer offer and counter-offer of customer will never cross each other. In addition, the party who submits the offer first may suffer as the opponent can take the advantage of his/her offer during negotiation, thereby, derailing the issue of fairness. Introducing mediator between the manufacturer and the customer for their negotiations could overcome these two issues. Numerical analysis clearly illustrates that, in average, the rounds of negotiation to reach an agreement can be reduced by 22 percent using proposed negotiation framework. In addition, the fairness in negotiations can be improved by 33 percent with the incorporation of mediator.

Through continuing research efforts in this domain, certain models and strategies have been developed for negotiation. Iterative method of negotiations without mediator will help neither the manufacturer nor the customer in terms of fairness and negotiations round to reach an agreement. To the best of the author’s knowledge, so far, this is the first instance of research work in the domain of OAD and negotiation framework that attempts to incorporate mediator for simultaneous negotiation between manufacturer and customers on multiple issues simultaneously.