Tourism cooperation in the Belt and Road Initiative from economic and spatial insights.

This study examines the potential benefits of cooperation among Belt and Road Initiative (BRI) countries in achieving common goals within the international tourism cooperation network. Despite its significance, limited research has been conducted on this topic in terms of economic and spatial insights. To address this gap, we utilized the gravity model, social network, and quadratic regression. The revealed findings suggest that while the intermediary function among BRI countries is declining, the tourism cooperation network is gradually strengthening. Furthermore, reducing the gap between the governance and consumption levels of BRI countries can improve the network. The study offers new insights into the BRI tourism cooperation network, which could be critical for the future growth of regional tourism.

Visualizing profitability: A heatmap approach to evaluate Bitcoin futures trading using VMA trading rules.

Given that technical trading charts are publicly available on popular financial websites such as Bloomberg and MarketWatch, it stands to reason that the same technical trading approaches may be applied to cryptocurrency markets. One of these trading strategies is the variable length moving average (VMA), whose flexibility benefit has not been fully explored in prior research. To fill this gap, we evaluate Bitcoin futures using VMA trading rules and provide the results in a heatmap diagram. This approach allows investors to choose the most effective VMA rules, potentially leading to profits. Furthermore, our approach may shed new light on previously unexplored investment thinking and practices that have the potential to improve investment outcomes.

Using Heatmap Visualization to assess the performance of the DJ30 and NASDAQ100 Indices under diverse VMA trading rules.

We investigate whether using various VMA trading rules would improve investment performance due to the flexibility of VMA trading rules and the aid of Heatmap Visualization. Previously, investors frequently chose the best performance derived from limited VMA trading rules. However, our new design, which can display all results using Heatmap Visualization, shows that the NASDAQ100 index outperforms the DJ30 index and that weekly data outperforms daily data when measured by annualized return. These findings may be useful to those who trade index ETFs tracking the DJ30 and NASDAQ100 indices, as well as investors making investment decisions, and may contribute to the existing literature by evaluating the outcomes of VMA trading rules and providing insights for index ETF investors using a heatmap matrix, which is rarely explored and presented in the relevant literature.

The impact and profitability of day trading following the relaxation of day trading restrictions in Taiwan.

The relaxation of day trading restrictions in Taiwan at the start of 2016 resulted in a significant increase in day trading volume, which piqued our interest in researching the impact and profitability of day trading, expected (unexpected) day trading, and day trading at high (low) levels of VIX using time series models, with the following key findings. First, we show that a high market trading volume triggers a high day trading volume resulting from liquidity markets that day traders prefer, but a high day trading volume does not trigger a high market trading volume resulting from speculative markets that other market participants don't prefer. Second, contrary to our perception, while the VIX index rises, day trading would be more profitable after the relaxation. We infer that a high VIX index may be accompanied by a volatile market, which may generate profits by widening the intraday spread of a day-tradable stock. Third, as compared with unexpected market trading volume, we reveal that unexpected day trading volume may be more unexpected than market trading volume, being more likely to enhance market volatility and stock returns. These impressive and interesting findings may not be disclosed before the relaxation, which may contribute to the existing literature.

Fatigue or satisfaction at crowded attractions?

Based on arousal theory, we argue that clarifying the mechanism of tourist fatigue on tourist satisfaction is critical for better understanding tourists visiting crowded attractions. A field survey was conducted in Zengcuoan, China's most artistic fishing village. We revealed that, contrary to expectations, tourist fatigue does not always have a negative impact on tourist satisfaction, implying that, similar to the contrast phenomenon of "poor but happy", "fatigue but satisfaction" may exist in tourism because there must be something to entice tourists in congested areas. Furthermore, we demonstrated that tourists with high experience quality may mitigate the negative effects of tourist crowding on tourist satisfaction from the theoretical perspective of arousal theory. We then propose that tourism authorities improve experience quality by creating a high-quality tourism experience, and even a one-of-a-kind and unforgettable experience for tourists. Nonetheless, we argue that finding more creative ways to reduce "fatigue" and increase "satisfaction" for tourists is critical for the tourism industry's success, especially given the industry's current competitive conditions. As a result, we believe there is still room for further research into these methods.

Does ownership structure matter for overshooting manipulation of hospitality and tourism stocks?

We investigate whether the function of ownership structure influences stock price overshooting manipulation for Taiwan Stock Exchange-listed tourism and hospitality firms because stock price overshooting occurs frequently for these firms after Chinese authorities relax restrictions on tourists visiting Taiwan. As a result, we demonstrate that some of these firms with a poorly functioning ownership structure may manipulate their share prices, resulting in overshooting phenomena, especially for stock price overbought phenomena. Following that, we discover that the directors and managers of these firms reduce their shareholdings, implying that such firms are likely to have corporate governance issues.

Are the shareholding and trading behaviors of diverse investors affected by the relaxation of day trading?

The day trading in Taiwanese stock market expands considerably at the beginning of 2016, which increases the transactions of stocks consequently and sparks our interest in exploring the issue of day trading. In this study, we use the data of Taiwan Stock Exchange listed firms to investigate whether the day trading volume over total trading volume (hereinafter referred to as the day trading ratio) and the turnover ratio enhanced by the increase of day trading volume would affect the shareholding and trading behaviors of diverse institutional and individual investors. Unquestionably, we bring out several impressive findings. First, foreign institutional investors would not prefer holding or trading the stocks with high day trading ratios, whereas individual investors would prefer holding these kinds of stocks. We infer that this finding might result from the fundamental and the speculative concerns of these various investors. Second, domestic institutional investors and security dealers would prefer trading the stocks with high turnover ratios, but foreign institutional investors still lack of interest in trading these stocks, implying that the investment strategies would be dissimilar among various institutional investors. Since foreign institutional investors are regarded as the successful institutional investors in Taiwan, we argue that our revealed results may help market participants trace the behaviors of diverse investors, especially the foreign institutional investors, after day trading relaxation in Taiwan.