Suppose that we have k candidates in an election and that the top m winners will be elected. Assume that the voters can select up to m (

In the presence of transaction cost, the ‘perfect’ timing strategy which holds stocks in a period with positive excess return and holds cash in a period with negative excess return is not necessarily perfect. Using the optimal growth criterion, this paper derives the truly perfect timing...

Recently, as an alternative to the GARCH model, the autoregressive random variance (ARV) model has been gaining popularity in the modelling of changing volatility, mainly because of the capability in capturing the stochastic nature of volatility. This article highlights the ARV model as an...

Suppose Yi is an estimator or sufficient statistic for a location parameter [theta]i (i = 1,...,k) of a location family. Let [theta](1) [less-than-or-equals, slant] 0(2) [less-than-or-equals, slant] ··· [less-than-or-equals, slant] [theta](k) be the ordered parameters. This paper deals...

Since the implementation of the open-door policy in China, many Hong Kong-based manufacturers' production lines have moved to China to take advantage of the lower production cost, lower wages, and lower rental costs, and thus, the finished products must be transported from China to Hong Kong. It...

In this paper, we introduce the cross-border logistics problem with fleet management. A major phenomenon of implementation of open-door policy in China is the move of Hong Kong-based manufacturers’ production lines to China, crossing the border to take advantages of lower production costs,...

This paper investigates the role of the returns policy in the co-ordination of supply chain: A manufacturer provides a return policy for unsold goods to two competing retailers who face uncertain demand. The problem is described with a game theory structure: The manufacturer, as the Stackelberg...

Purpose – The purpose of this paper is twofold: to investigate performance of both manufacturer-owned channel and traditional retail channel when the manufacturer encroaches upon the traditional channel in different forms (brick-and-mortar and online form) under different market structures...