Causality in Quantiles and Dynamic Stock Return-Volume Relations

This paper investigates the causal relations between stock return and volume based on quantile regressions. We first define Granger non-causality in all quantiles and propose testing non-causality by a sup-Wald test. Such a test is consistent against any deviation from non-causality in distribution, as opposed to the existing tests that check only noncausality in certain moment. This test is readily extended to test non-causality in different quantile ranges, and the testing results enable us to identify the quantile range for which causality is relevant. In the empirical studies of 3 major stock market indices, we find that, while the conventional test suggests no causality in mean, there are strong evidences that lagged volume Granger causes return in all but some middle quantiles. In particular, the causal effects have opposite signs at lower and upper quantiles and are stronger at more extreme quantiles. These relations form (symmetric) V shapes across quantiles. They also show that the dispersion of the return distribution increases with volume so that volume has a positive effect on return volatility. It is also shown that the quantile causal effects of lagged return on volume are mainly negative.Granger non-causality in quantiles, quantile causal effect, quantile regression, return-volume relation, sup-Wald test

Does open-plan office environment support creativity? The mediating role of activated positive mood

This study examines how perceived physical office environment features affect occupants’ creativity through positive moods. Based on a sample of 181 occupants in open-plan offices, we found that perceived spatial organization features had a positive relationship with occupants’ self-assessed creativity, and this relationship is mediated by positive moods. Although perceived architectonic details of the physical work environment do not have a direct effect on occupants’ creativity, there is also a mediating effect through positive moods. A further examination revealed that activated positive mood significantly mediates the relationship between both physical work environment features and occupants’ creativity, whereas deactivated positive mood was not significant as a mediator. When occupants perceived the physical work environment to be supportive in providing various workspaces and is well decorated, it is most likely to enhance creativity. Article in English. Ar atvirojo plano biurų aplinka palaiko kūrybiškumą? Poveikį darantis suaktyvintas pozityvus nusiteikimas Santrauka Šiame tyrime nagrinėjama, kaip suvokiamos fizinės biuro aplinkos ypatumai veikia darbuotojų kūrybiškumą, jiems esant pozityviai nusiteikusiems. Remdamiesi atvirojo plano biurų 181 darbuotojo pavyzdžiu nustatėme, kad suvokiamos erdvinės organizacijos ypatumams buvo būdingas pozityvus santykis su pačių darbuotojų savojo kūrybiškumo vertinimais, o šiam santykiui netiesioginę įtaką turi pozityvus nusiteikimas. Nors fizinės darbo aplinkos suvokiamos architektūrinės detalės neturi tiesioginio poveikio darbuotojų kūrybiškumui, vis dėlto pozityvus nusiteikimas daro netiesioginį poveikį. Tolesnis tyrimas atskleidė, kad suaktyvintas pozityvus nusiteikimas turi reikšmingą įtaką santykiui tiek tarp fizinės darbo aplinkos ypatumų, tiek tarp darbuotojų kūrybiškumo, o nesuaktyvintas pozityvus nusiteikimas neturėjo didelės reikšmės poveikio atžvilgiu. Darbuotojai suprato, kad fizinė darbo aplinka, kuri sudaro sąlygas kurti įvairias darbo erdves ir yra tinkamai apipavidalinta, labai tikėtina, jog ir sustiprina kūrybiškumą. Reikšminiai žodžiai: suaktyvintas pozityvus nusiteikimas, kūrybiškumas, nusiteikimas, fizinė darbo aplinka

Assessing the Fit between Mobile Technology on Self-Service and Individual Difference in the Exhibition Industry

The concept of self-service is getting popular. Many firms and users adopt the SST (Self-service Technology) due to its lower cost and saving time. Mobile technology is an emerging technology and because of its characteristics such as identity and location-sensitivity that it is quite suitable for Self-Service in terms of people can easily obtain information tailored for them. Individual difference is one the factors that affect the user adoption. This research is to find out what kind of mobile self-service fits with the certain individual characteristic that generates the better task performance. The result can guide service providers to develop attractive self-service through mobile technology

A Mixed-methods Study of Governance Mechanisms and Outsourcing Information System Services on Goal Performance

Background: Information systems outsourcing (ISO) is one of the critical businesses in information technology outsourcing (ITO). Due to the increasing complexity of ISO, the failure rate of such outsourcing increases. Outsourcing information system services (OISS) was thus proposed to deal with this. A conceptual framework based on the information processing view was developed to investigate how the client firms assess OISS goal performance. Governance mechanisms (governance structure, relational governance, and IT coordination) were treated as antecedents of transaction cost and outsourcing flexibility; these would further affect goal performance (goal achievement and goal exceedance) with task complexity as a moderator. Method: A mix-methods study was conducted; the qualitative approach was employed to validate the conceptual framework by interviewing three managers with experiences in OISS from the client firms, whereas the quantitative approach, with 206 responses from those with OISS experiences from the client firms, provides empirical evidence. Results: The results indicated that relational governance effectively reduced transaction cost and increased outsourcing flexibility; the governance structure was also vital for outsourcing flexibility. Transaction cost was found to negatively affect goal achievement, and outsourcing flexibility positively affected both goal achievement and goal exceedance. The moderating effects of task complexity were also confirmed. Conclusion: The results extended the information processing view to OISS and proved that transaction cost and outsourcing flexibility are necessary to link governance mechanisms and goal performance. Practically, the client firms are suggested to maintain a positive relationship with the OISS provider. The OISS provider should offer an exclusive channel during and after the execution of the OISS project to reduce the possible cost that occurs during the implementation and improve the outsourcing flexibility to allow the client firms to consider their goals have been achieved and beyond their expectations. By doing so, the effect of goal performance can be maximized