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Recent Journal of Management Science and Engineering Articles

Recently published articles from Journal of Management Science and Engineering.

A mixed behaviour equilibrium model with mode choice and its application to the endogenous demand of automated vehicles

December 2020
Guangchao Wang | Hang Qi | Huiling Xu | Seungkyu Ryu

This study develops a mixed behavioural equilibrium model with explicit consideration of mode choice (MBE-MC) in a transportation system where fully automated vehicles (AV) coexist with conventional...

The effects of transportation system improvements on urban performances with heterogeneous residents

December 2020
Shuxian Xu | Tianliang Liu | Ning Jia | Pengfei Wang | Peng Liu | Shoufeng Ma

Through developing a spatial equilibrium model for a linear monocentric city with a bi-modal traffic corridor (i.e., highway and public transit), this paper examines the effects of transportation improvements...

Who is more likely to get a ride and where is easier to be picked up in ride-sharing mode?

December 2020
Yue Yang | Qiong Tian | Yuqing Wang

The ubiquity of information and communication technology (ICT) and application of global positioning system (GPS) enabled cell phones provide new opportunities to implement ride-sharing in many ride-hailing...

An integrated arterial coordinated control model considering green wave on branch roads and pedestrian crossing time at intersections

December 2020
Jun Zhang | Huayan Shang | Xiaoxiao Li | Yao Yao

Urban fine management needs scientific traffic management methods and efficient signal control programs. Green wave control is usually used to facilitate the unban traffic. However, maximum bandwidth...

The rebound effect on energy efficiency improvements in China’s transportation sector: A CGE analysis

December 2020
Huibin Du | Zhenni Chen | Zengkai Zhang | Frank Southworth

Energy use is becoming more efficient due to technological innovations. We focused on the transportation sector in China to develop a national multisector computable general equilibrium (CGE) model...

The role of oil futures intraday information on predicting US stock market volatility

Available online 10 October 2020
Yusui Tang | Xiao Xiao | M.I.M. Wahab | Feng Ma

This study investigates the role of oil futures price information on forecasting the US stock market volatility using the HAR framework. In-sample results indicate that oil futures intraday information...

A combined machine learning algorithms and DEA method for measuring and predicting the efficiency of Chinese manufacturing listed companies

Available online 10 October 2020
Nan Zhu | Chuanjin Zhu | Ali Emrouznejad

Data Envelopment Analysis (DEA) is a linear programming methodology for measuring the efficiency of Decision Making Units (DMUs) to improve organizational performance in the private and public sectors....

Research performance evaluation of Chinese university: a non-homogeneous network DEA approach

Available online 3 October 2020
Tao Ding | Jie Yang | Huaqing Wu | Yao Wen | Changchun Tan | Liang Liang

Performance evaluation for universities or research institutions has become a hot topic in recent years. However, the previous works rarely investigate the multiple departments’ performance of a university,...

Minimizing makespan of a production batch within concurrent systems: Seru production perspective

Available online 3 October 2020
Yin Gai | Yong Yin | Jiafu Tang | Shiqiang Liu

This paper discusses the makespan minimization of a production batch within a specific concurrent system, seru production system. A seru production system consists of multiple independent serus. A seru...

Special issue: Contemporary mega-project and program management

September 2020
James Jiang | Gary Klein | Wayne Huang | Shan Liu | Xiaosong Wu

A supplier evaluation model based on customer demand in blockchain tracing anti-counterfeiting platform project management

September 2020
Aijun Liu | Taoning Liu | Jian Mou | Ruiyao Wang

This study assesses supplier selection at the beginning of project management to establish an evaluation system corresponding to blockchain tracing anti-counterfeiting platforms (BTAP). First, this...

Effects of attention and reliability on the performance of online medical crowdfunding projects: The moderating role of target amount

September 2020
Shan Liu | Tingwei Cheng | Hao Wang

Medical crowdfunding platform helps numerous patients access enthusiastic donors and address financial difficulties, but many crowdfunding projects fail to reach their target amount. Thus, how a crowdfunding...

Modelling the iron ore price index: A new perspective from a hybrid data reconstructed EEMD-GORU model

September 2020
Jingjing Tuo | Fan Zhang

As iron ore is the fundamental steel production resource, predicting its price is strategically important for risk management at related enterprises and projects. Based on a signal decomposition technology...

Differentiation and dynamism within the IT development program

September 2020
Xiaosong Jason Wu | Wei Wayne Huang | Jacob Chia-An Tsai | Gary Klein | James J. Jiang

Information technology (IT) developments of large magnitude organize as collections of multiple projects into a single program, especially under dynamic conditions of market uncertainty that frequently...

Research on the impact of mega-projects on carrying capacity of cities taking the first-line project of the West-East gas pipeline as an example

September 2020
Lixia Zheng

With the acceleration of China’s urbanization, the functions and benefits of mega-projects are required higher. With the deepening of “the Silk Road Economic Belt and the 21st-Century Maritime Silk...

Financial reporting fraud and CEO pay-performance incentives

Available online 24 July 2020
Dong Chen | Feng Wang | Cunyu Xing

Because prior studies find mixed results on the relation between CEOs’ pay performance incentives and a firm’s likelihood of financial reporting fraud, we restudy their relationship using innovative...

Pricing vulnerable European options with dynamic correlation between market risk and credit risk

June 2020
Huawei Niu | Yu Xing | Yonggan Zhao

In this paper, we study the valuation of vulnerable European options incorporating the reduced-form approach, which models the credit default of the counterparty. We provide an analytical pricing model...

Consumers can learn and can forget – Modeling the dynamic decision procedure when watching TV

June 2020
Lianlian Song | Geoffrey Kwok Fai Tso

Facing the challenge of attracting consumers and winning market share under the proliferation of TV stations and channels, the traditional TV stations often make some marketing strategies. However,...

Linear mixed-effects model for longitudinal complex data with diversified characteristics

June 2020
Zhichao Wang | Huiwen Wang | Shanshan Wang | Shan Lu | Gilbert Saporta

The increasing richness of data encourages a comprehensive understanding of economic and financial activities, where variables of interest may include not only scalar (point-like) indicators, but also...

Measuring systemic importance of banks considering risk interactions: An ANOVA-like decomposition method

March 2020
Chunbing Bao | Dengsheng Wu | Jianping Li

The systemic importance of a bank is usually measured by its effect on the banking system, conditional on the insolvency of the bank and solvency of other banks. However, banks encounter different kinds...

Directional congestion in the framework of data envelopment analysis

March 2020
Guoliang Yang | Xiantong Ren | Mohammad Khoveyni | Robabeh Eslami

This study first proposes a definition for directional congestion in certain input and output directions within the framework of data envelopment analysis. Second, two methods from different viewpoints...

Contraction flexibility, operating leverage, and financial leverage

March 2020
Zhun Li | Qiang Li | Yong Zeng

This study investigates the impacts of contraction flexibility and operating leverage on financial leverage from the perspective of the agency conflict between shareholders and debtholders. In a continuous-time...

Internet-of-things enabled supply chain planning and coordination with big data services: Certain theoretic implications

March 2020
Longfei He | Mei Xue | Bin Gu

Recent advances in information technology have led to profound changes in global manufacturing. This study focuses on the theoretical and practical challenges and opportunities arising from the Internet...

Computer-aided diagnosis and decision-making system for medical data analysis: A case study on prostate MR images

December 2019
Ailian Chen | Leilei Zhu | Huaijuan Zang | Zhenglong Ding | Shu Zhan

Prostate cancer is the most common cancer in males and a major cause of cancer-related death. Magnetic resonance (MR) imaging is recently emerging as a powerful tool for prostate cancer diagnosis. To...

The effects of an online inquiry service on gatekeeping systems with heterogeneous patients

December 2019
Xiuzhang Li | Weixiang Huang | Yan Chen | Wenhui Zhou

An online inquiry service (OIS) is an innovative service designed to make medical resources more accessible, especially in remote areas. An OIS provides patients with an alternative method of consulting...

Simulation modeling and optimization for ambulance allocation considering spatiotemporal stochastic demand

December 2019
Wei Yang | Qiang Su | Samuel H. Huang | Qiugen Wang | Yanhong Zhu | Ming Zhou

To ensure a timely response to emergencies, governments are obliged to implement effective ambulance allocation plans. In practice, an emergency medical service (EMS) system works in an uncertain environment,...

Inpatient bed allocation policy under uncertain capacity

December 2019
Xing Liu | Youhua Chen | Li Luo | Ting Zhu | Wenwu Shen | TAIWO Enayon Sunday

This paper concerns the problem of inpatient bed allocation for two classes of patients (scheduled and non-scheduled) when there is uncertainty about daily available capacity. In the afternoon of each...

Policy spillover and regional linkage characteristics of the real estate market in China's urban agglomerations

September 2019
Xiangfei Li | Minghan Sun | Kees Boersma

The main purpose of this study is to determine the spillover effect of real estate regulatory policies released by core cities on the surrounding cities in major urban agglomerations based on regional...

Is bitcoin a safe haven or a hedging asset? Evidence from China

September 2019
Gangjin Wang | Yanping Tang | Chi Xie | Shou Chen

Based on daily data about Bitcoin and six other major financial assets (stocks, commodity futures (commodities), gold, foreign exchange (FX), monetary assets, and bonds) in China from 2013 to 2017,...

Projection bias, sophistication, and sub-additive discounting

June 2019
Shou Chen | Richard Fu | Lei Wedge | Ziran Zou

Behavioral studies have revealed the sub-additive discounting pattern, which is at odds with the prevailing hyperbolic discounting framework that explains intertemporal choices. In this study, we demonstrate...

Risk measures for variable annuities: A hermite series expansion approach

June 2019
Zhenyu Cui | Jinhyoung Kim | Guanghua Lian | Yanchu Liu

In this study, we propose an efficient approach to the calculation of risk measures for an insurer's liability from writing a variable annuity with guaranteed benefits. Our approach is based on a novel...

Ensemble RBF modeling technique for quality design

June 2019
Linhan Ouyang | Liangqi Wan | Chanseok Park | Jianjun Wang | Yizhong Ma

This paper proposes an ensemble radial basis function neural network that selects important RBF subsets based on Pareto chart using Bootstrap samples. Then, the analysis of variance method is used to...

Time-consistent investment and reinsurance strategies for insurers under multi-period mean-variance formulation with generalized correlated returns

June 2019
Zhongbao Zhou | Tiantian Ren | Helu Xiao | Wenbin Liu

The existing literature on investment and reinsurance is limited to the study of continuous-time problems, while discrete-time problems are always ignored by researchers. In this study, we first discuss...

Vehicle flow formulation for two-echelon time-constrained vehicle routing problem

June 2019
Hongqi Li | Ming Bai | Yibin Zhao | Changzhi Dai

Two-echelon routing problems, including variants such as the two-echelon vehicle routing problem (2E-VRP) and the two-echelon location routing problem (2E-LRP), involve assignment and location decisions....

Refined analysis and prediction of natural gas consumption in China

June 2019
Ting Liang | Jian Chai | Yue-Jun Zhang | Zhe George Zhang

In view of the abrupt and phased features of natural gas consumption, this paper attempts to predict natural gas consumption in China with a refined forecasting approach. First, we establish a Markov...

Out-of-sample forecasts of China's economic growth and inflation using rolling weighted least squares

March 2019
Yuying Sun | Yongmiao Hong | Shouyang Wang

Macroeconomic forecasting in China is essential for the government to take proper policy decisions on government expenditure and money supply, among other matters. The existing literature on forecasting...

A decomposition clustering ensemble learning approach for forecasting foreign exchange rates

March 2019
Yunjie Wei | Shaolong Sun | Jian Ma | Shouyang Wang | Kin Keung Lai

A decomposition clustering ensemble (DCE) learning approach is proposed for forecasting foreign exchange rates by integrating the variational mode decomposition (VMD), the self-organizing map (SOM)...

A combined random effect and fixed effect forecast for panel data models

March 2019
Bai Huang | Tae-Hwy Lee | Aman Ullah

When some of the regressors in a panel data model are correlated with the random individual effects, the random effect (RE) estimator becomes inconsistent while the fixed effect (FE) estimator is consistent....

Forecasting using supervised factor models

March 2019
Yundong Tu | Tae-Hwy Lee

This paper examines the theoretical and empirical properties of a supervised factor model based on combining forecasts using principal components (CFPC), in comparison with two other supervised factor...

Versatile HAR model for realized volatility: A least square model averaging perspective

March 2019
Yue Qiu | Xinyu Zhang | Tian Xie | Shangwei Zhao

A rapidly growing body of literature has documented improvements in forecasting financial return volatility measurement using various heterogeneous autoregression (HAR) type models. Most HAR-type models...

Assessing Tail Risk Using Expectile Regressions with Partially Varying Coefficients

December 2018
Zongwu Cai | Ying Fang | Dingshi Tian

To characterize heteroskedasticity, nonlinearity, and asymmetry in tail risk, this study investigates a class of conditional (dynamic) expectile models with partially varying coefficients in which some...

Econometric Modeling and Economic Forecasting

December 2018
Zongwu Cai | Yongmiao Hong | Shouyang Wang

A New Regime Switching Model with State–Varying Endogeneity

December 2018
Tingting Cheng | Jiti Gao | Yayi Yan

In this paper, we propose a state-varying endogenous regime switching model (the SERS model), which includes the endogenous regime switching model by Chang et al., the CCP model, as a special case....

Firm Characteristics and Chinese Stocks

December 2018
Fuwei Jiang | Guohao Tang | Guofu Zhou

This paper presents a comprehensive study on predicting the cross section of Chinese stock market returns with a large panel of 75 individual firm characteristics. We use not only the traditional Fama-MacBeth...

Nowcasting China’s GDP Using a Bayesian Approach

December 2018
Yixiao Zhang | Cindy L. Yu | Haitao Li | Yongmiao Hong

Real time nowcasting is an assessment of current-quarter GDP from timely released economic and financial series before the GDP figure is disseminated. Providing a reliable current quarter nowcast in...

Competitive Analysis for Discrete Multiple Online Rental Problems

September 2018
Maolin Hu | Weijun Xu | Hongyi Li | Xiaoli Chen

Many actual rental activities present online rental problems with multiple units of assets or equipment whose use can be continuous, separable, or discrete. Using online algorithms and competitive analysis,...

Divergence in Reservation Prices and Its Impact on Housing Market Liquidity: A Theoretical Analysis

September 2018
Pu Gong | Yunyi Zhang | Huainan Zhao

In this paper, we build a two-period English auction model to study the relative movements between buyers’ and sellers’ reservation prices in the housing market. We show that changes in sellers’ reservation...

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