This paper investigates the frequency connectedness among economic policy uncertainties of G20 countries using the novel frequency connectedness proposed by Barunik and Krehlik (2018) which can depict the dynamic connectedness not only over time but also across different frequencies. The empirical results obtained in this paper demonstrate that, firstly, the connectedness among economic policy uncertainties is significant, and the spillover effects during the financial crisis and the post-financial crisis period are stronger than the pre-financial crisis period. Secondly, the United States, France, and Australia are the main net-transmitters of the economic policy uncertainty spillovers while Brazil, Italy, Mexico, and Russia act as the main net-recipients of the spillovers. Thirdly, the major international events may significantly enhance the spillover transmissions of economic policy uncertainty among different countries, thus increasing the magnitude of the total connectedness. Finally, the economic policy uncertainty spillovers are mainly transmitted in the short term, i.e., 1∼4 months instead of longer time horizons in terms of the magnitude of the frequency connectedness measures. The findings of this paper not only have profound theoretical and practical significance but also provide several significant implications for the policymakers, supervision agents, international traders, and various investors.
Based on image segmentation and the dark channel prior, this paper proposes a fog removal algorithm in the HSI color space. Usually, the dark channel prior based defogging methods easily produce color distortion and halo effect when applied on images with a large sky area, because the sky region does not meet the prior assumption. For this reason, our method presents a new threshold sky region segmentation algorithm using the initial transmission map of the intensity component I. Based on the segmentation result, the initial transmission map is modified in turn, and finally refined by the guided filter. The saturation components S is reconstructed using the low frequencies of the V-transform to reduce noise, and stretched by multiplying a constant related to the initial transmission map. Experimental results show that the proposed algorithm has low time complexity and compelling fog removal result in both visual effect and quantitative measurement.
This paper aims to propose a new trend in research which integrates the online customer relationship management through the perspectives of perceived value, satisfaction, and e-trust regarding the online restaurant in Chinese e-CRM business backgrounds. This study constructs a structural equation model to analyze the online restaurant marketing with the research perspective of the relationships among perceived value, satisfaction and e-Trust, corresponding to the cognitive belief, affective experiences and cognitive behavior of e-CRM. This model proposes six hypotheses concerning the relationships among perceived value, satisfaction and e-trust, aiming to demonstrate the predominant factors affecting the online restaurant sales and further to have a better understanding of the customers’ preferences on placing orders and purchases in the online context. The results show that there is a series of connections among perceived value, satisfaction and e-trust, and most of them are important. First, the perceived value has an incentive effect on satisfaction, e-trust, and customers’ commitment to a relationship. Second, satisfaction has a positive impact on e-trust and leads to the commitment to a relationship. Third, e-trust positively affects the consumer commitment to a relationship. In addition, production quality, service quality and price fairness have a significant impact on the perceived value.
Government investment plays an important role in promoting and guiding the economic and social development in China. Xinjiang is the core province of the Belt and Road and its economic growth is mainly driven by investment. This paper decomposes the determinants of government investment effect into economic structure change, technological change and investment structure change, using the non-competitive input-output table of Xinjiang province in 2007, 2012 and 2015 and structural decomposition analyses. The results show that, the government investment effect in Xinjiang shows a slight decline trend. During the period, the change of economic structure and investment structure have the negative impact on government investment effect, while the change of technology has the positive impact on government investment effect. In addition, these impacts have strong sectoral heterogeneity.
The optimization investment policy decision of SCM-supply chain management-implementation has been analysed under symmetric and asymmetric information conditions. For both conditions, SCM implementation optional decision optimizing models have been developed. In these models, both clients and vendors try to pursue their own benefits. Based upon the principal-agent theory, the models show to what extent a principal (a client) needs to pay more to an agent (a vendor) in a context of asymmetric information. For the client it is important to understand the extra costs to be able to adopt effective strategies to stimulate a vendor to perform an optimal implementation of a SCM system. The results of a simulation experiment regarding SCM implementation options illustrate and verify the theoretical findings and confirm the general notion that the less informed party is obliged to pay information rent to the better-informed party.
In this work, neutral stochastic functional differential equations with infinite delay (NSFD-EwID) have been addressed. By using the Euler-Maruyama scheme and a localization argument, the existence and uniqueness of solutions to NSFDEwID at the state space Cr under the local weak monotone condition, the weak coercivity condition and the global condition on the neutral term have been investigated. In addition, the L2 and exponential estimates of NSFDEwID have been studied.