National Chengchi University

About: National Chengchi University is a education organization based out in Taipei, Taiwan. It is known for research contribution in the topics: Population & China. The organization has 3465 authors who have published 6342 publications receiving 118821 citations. The organization is also known as: NCCU & Chengda.

The Cross-Section of Speculator Skill: Evidence from Day Trading

Abstract: We document economically large cross-sectional differences in the before- and after-fee returns earned by speculative traders. We establish this result by focusing on day traders in Taiwan from 1992 to 2006. We argue that these traders are almost certainly speculative traders given their short holding period. We sort day traders based on their returns in year y and analyze their subsequent day trading performance in year y 1; the 500 top-ranked day traders go on to earn daily before-fee (after-fee) returns of 61.3 (37.9) basis points (bps) per day; bottom-ranked day traders go on to earn daily before-fee (after-fee) returns of -11.5 (-28.9) bps per day. The spread in returns between top-ranked and bottom-ranked speculators exceeds 70 bps per day. However, less than 1% of the total population of day traders is able to predictably and reliably earn positive abnormal returns net of fees. Our results contribute to the evidence that cross-sectional variation in investor skill is an important feature of financial markets.

Imagery Fluency and Narrative Advertising Effects

Abstract: This article identifies important cognitive processes associated with processing narrative ads (comprehending narratives and generating mental imagery of depictions in the narratives) and related subjective experiences (perceptual/conceptual fluency, comprehension, and imagery fluency). In line with the idea that perceptual/conceptual fluency facilitates comprehension fluency and further improves imagery fluency, this study presents a model in which factors influence imagery fluency either indirectly through influences on perceptual/conceptual and comprehension fluency or directly. Findings from two experiments support the model; picture type (narrative versus product picture) and narrative type (highly versus less accessible) indirectly alter imagery fluency through their influence on comprehension fluency, whereas individual characteristics (experiential versus rational processing orientation) directly alter it, which further affects ad and brand attitudes.

The effect of community identification on attitude and intention toward a blogging community

Abstract: Purpose – Internet portals have long been providing free services (e.g. e‐mail, blog) to attract new users and retain existing customers. However, it is uncertain whether the users will continue to use the present free service over time. Blog enables people to interact with others extensively and the population of blog users has been skyrocketing in recent years. This paper aims to investigate the impacts of virtual community on a user's attitude and intention to continually use the current blog service.Design/methodology/approach – The conceptual empirical model has been developed on the foundation of social psychology, relationship marketing, and transaction cost analysis (TCA). Users of blogging communities who have frequent experience of interacting with other members were the objects for this study. In total, 243 valid samples were obtained for empirical testing by employing structural equation model.Findings – Results show that asset specificity and community pressure play mediating roles in the rel...

The Relative Effectiveness of Comparative and Noncomparative Advertising: Evidence for Gender Differences in Information-Processing Strategies

Abstract: Drawing on gender differences in processing strategies and elaboration thresholds, this study showed that comparative advertising encouraged greater levels of brand-evaluation involvement among men but not among women. Instead, for women, attention-gaining comparative appeals encouraged inferences regarding the ad's manipulative intent. Furthermore, these gender differences in processing led to evaluative consequences. For men, the greater brand-evaluation involvement brought about by comparative appeals led to more favorable ad and brand evaluations and greater purchase intentions. For women, the heightened perceptions of manipulative intent brought about by comparative appeals resulted in negative ad and brand evaluations and reduced purchase intentions. Finally, the attribute alignability of competing products moderated the gender-dependent effectiveness of comparative and noncomparative appeals.

Product Diversification and Financial Performance: The Moderating Role of Secondary Stakeholders

Abstract: The challenges firms face increase with their product diversification levels because different product markets possess different sociopolitical issues. We argue that secondary stakeholders, as repr...