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Objective: As a world tourist destination, Macao is inevitably under the impact of the COVID-19 pandemic. However, the market of integrated resorts in Macao are shared by only a few casino concessionaries, together forming an oligopoly. While the firms attempted to adjust price, quantity and quality of their hotel services in response to the pandemic, they could not overlook the strategic interactions with other players in the market. Hence, this paper aims to investigate the possible impact of the pandemic on the oligopolistic strategies in the integrated resort market in Macao. Methodology: Application of a theoretical model of differentiated oligopoly to this six-firm case shows that price differences across firms depend on their quality differentiation. In order to analyze these price differences empirically, this paper collects data of hotel room rates of the integrated resorts from November, 2019 to mid-August, 2020, covering the periods before and after the outbreak of COVID-19. Originality: In the existing literature, there is a lack of studies of the oligopoly in the hospitality industry of Macao. Furthermore, the effect of COVID-19 is still ongoing, so this present paper is one of the first to perform such analysis. Results: The regression of each of the hotel price differentials on the COVID-19 dummy variable shows that COVID-19 has statistically significant impacts on almost all the price differentials. Intuitively, MGM and Wynn were in the high-price segment before and after the outbreak, while other firms switched positions in the low-price segment during the pandemic. One obvious downstream movement was by Conrad. According to the proposition derived from the theory, these imply that COVID-19 should have significant impact on the quality differentiation of the firms. Practical implications: The results are in line with the observations that the integrated resorts have rolled out staycation packages according to preferences of local residents. These quality adjustments observed in Macao’s hospitality industry currently only involved variable inputs rather than fixed inputs of production; therefore, the impact of COVID-19 should be seen as short-term effects. Keywords: Covid-19; Differentiated oligopoly; Hospitality industry; Hotel room rate; Oligopolistic market structure; Pricing strategy.
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Despite the general good intentions towards the environment, individuals tend to adopt traditional internal combustion vehicles. Drawing from technology research, this study focuses on the impact of society - in the form of subjective norm and image – on the behavioral intention to adopt a technology. More precisely, this study seeks to explore to which extent societal influences drive the behavioral intention to adopt battery electric vehicles (BEV) technology. A self-administered survey was used for this purpose. The analysis of the data from a sample of 111 respondents showed significant relationships between the predictors and the target behavioral outcome. The study also revealed that subjective norm and image are particularly significant factors for the segment of BEV owners. The findings suggest that marketers and practitioners incorporate social elements into their product communication strategies in order to encourage the uptake of environmentally-sound technologies.
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Human resources are essential to the survival, success, and long-term growth of a company. Hotel is an industry requiring a high level of human resources for delivering high-quality personal service to the hotel guests to maintain its competitiveness in the business environment. With the rapid economic growth in Macao started in 2002, all the industries have been growing fast and competing fiercely for the limited manpower in Macao. However, the Macao hotel industry has been losing its attractiveness in the Macao labor market and needs to rely on non-local workers with a limited stay in Macao. The management team of the Macao hotel industry is looking for a solution to maintain a stable workforce. Therefore, a study has been conducted on the effectiveness of its employee retention strategies. A questionnaire was designed to collect the preferences of the employees and interviews were conducted to understand the perspective of the management team toward the employee retention strategies. The study shows the employee strategies are focused on key employees’ interests such as career development and prospect. However, the communication between the management team and employees failed and led to employee turnover.
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China growing awareness of sustainability has brought out relevant aspects to move towards a green environment. Since its subscription in 2016, China has been committed to implementing the Paris Agreement, and the Greater Bay Area (GBA) development plan prioritizes ecology and pursuing green development. The primary purpose of this research is to perceive the companies' insights concerning the implementation of sustainable buildings’ projects in Macau. For this multi-case study analysis, primary data was gathered from interviews with two groups involved in the construction projects’ lifecycle: Consultants and Contractors, to analyze different perceptions and concerns. The interviews considered two different themes about the main topic: (1) Perception on Companies’ Experience in Sustainable Projects; (2) Key Drivers towards Sustainable Buildings’ Projects’ Implementation. In conclusion, according to the analyzed data, it is essential to notice that companies’ background and the market particularities affect their corporate performance specially connected to the green construction frameworks. The data also indicate that it is necessary to move towards regulations and policies to change corporate and people's mindset.
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Sentiment analysis technologies have a strong impact on financial markets. In recent years there has been increasing interest in analyzing the sentiment of investors. The objective of this paper is to evaluate the current state of the art and synthesize the published literature related to the financial sentiment analysis, especially in investor sentiment for prediction of stock price. Starting from this overview the paper provides answers to the questions about how and to what extent research on investor sentiment analysis and stock price trend forecasting in the financial markets has developed and which tools are used for these purposes remains largely unexplored. This paper represents the comprehensive literature-based study on the fields of the investors sentiment analytics and machine learning applied to analyzing the sentiment of investors and its influencing stock market and predicting stock price.
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This paper aimed to build up the theorical and conceptual understanding of future forecasting study of Macau’s GDP and Gross Gaming Revenue (GGR) by co-movement of economic indicators. Macau GDP and GGR showed co-movements with a number of time series economic indicators, including China’s exports and imports, China’s manufacturing PMI, non-manufacturing PMI, China's electricity production growth, share price of some Macau’s gaming operators, etc. These time series data can be found in statistics departments of China, Macau and Hong Kong, stock exchanges, and international organizations such as the International Monetary Fund (IMF), the World Bank, the World Trade Organization (WTO). Burns and Mitchell’s study in 1946 identified co-movements between economic indicators and being further carried out and developed leading, coincident and lagging indicators, which is essential for future econometric models and nowcasting techniques developments to study these co-movements. In particular, with the proper application of nowcasting techniques, future studies can exploit the data of leading and coincident economic indicators to forecast Macau’s GDP and GGR within an acceptable level of error. Since Macau is a “monotown,” where the gaming revenue makes a significant contribution to the economy. The forecasting of gaming revenue is crucial as it aids the gambling and tourism industries in preparing supply and provides information to policymakers to plan for the near future. This research also contributes to understand Macau’s economy by investigating its internal and external economic variables.
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People with intellectual disabilities need vocational training and support in order to be able to get into the work market and maintain their workplace. In Macau SAR, China, the vocational training ecosystem still operates in fully classic, in-person, fashion, which means it is susceptible to pandemic situations such as COVID-19. This causes a big disruption to the training when isolation measures are in place. Our goal is to study the introduction of serious games for vocational training of people with disabilities in Macau. This work presents a study to assess the training benefits of serious games and usability factors, understand the acceptability and adoption factors/benefits of serious games for vocational training for people with intellectual disabilities and associated stakeholders in Macau.
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It has been proven in numerous research that mindfulness can be helpful to reduce stress and chronic pain (Hall, 2014; Lindström, n.d.; Tong et al., 2015). While interactive mindfulness has been one of the focuses in the recent mobile applications market, usually tackling three essential human senses: audio, visual, and touch, each mobile application has quite some different approaches in terms of interactivity. Some focus on the touch and visual, and some on audio (environmental sounds or instructing meditation). Immersing oneself in virtual reality (VR) creates a constant stream of interactivity. Nonetheless, what are the conditions for an (in)tangible virtual reality to be more effective? Under the COVID-19 pandemic and lockdown since the end of 2019, Macao has been facing a social concern that we cannot travel easily to visit our decedents’ graves abroad, let alone the existing concerns of expensive burial services, lack of space, and alternative burial options. Also, taking into consideration that standard funeral service in Macao is often too brief, and getting briefer, thus lacking the opportunity to properly farewell the decedent, this research is proposing a virtual reality 3D model construction of the Chapel of St. Michael, located in St. Michael the Archangel Cemetery in Macao, to be streamed on a 360 virtual tour platform, Kuula. co. By immersing in this virtual reality, the participant is to have a single user experience for mindfulness with the decedent. To ensure valid and reliable results that address the research aims and objectives, a single-user experiment is going to be set up with multiple electronic devices, namely, the smartphone iPhone X with cardboard VR, the tablet iPad Pro, and the Oculus Quest 2. The methodology to collect the data will be using observation and simulation. The experiment will be started with an introduction to the project and conducted with no instruction, allowing users to explore and examine all features in this immersive experience. Along with a post-experience survey (interview + questionnaire), we seek its conditions and impacts on Macao residents in terms of interactive mindfulness and participants’ expectation of testing, for the first time in Macao, a virtual reality grave mourning experience.
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(Un)Directed Reading is an interactive installation (Edmonds, 2010) initially derived from the “Directed Reading” course, which all undergraduate students at the University must take during their final year. In this course, students are assigned different writing exercises and research assignments to open their creative and constructive minds in writing (EdwardsGroves, 2012; McVey, 2008). Every year, at the end of the course and after a selection process, a collection of stories is uploaded to a database of original stories. We then developed an open-source application to print a receipt ticket from a thermal printer with a randomly picked story every time a user pushes a button. An arcade game-style button is installed on a kiosk designed in collaboration with students and set on the university's campus (left photo). The printed receipt presents a short extract of one of the stories and a QR code that links to the full story decorated with illustrations. In a modern society where most of our interactions are audiovisual-based, young generations are less and less encouraged to read and even less to write. By offering a simple kiosk installation with short stories and graphical illustrations, we propose a new interactive interface that can easily engage passers-by to eventually stimulate their reading and creativity. By reading these stories, students, professors, staff, and visitors can be surprised by the talent of our students, as it stimulates students to write new pieces to be selected. The interactive kiosk was accessible to all for a period of 3 months with 23 stories during which we automatically collected some data to use in quantitative analysis. In this first run, we focused on data from the user's interactions such as story printed, story read, date and time. It allowed us to see the ratio between the printed receipt and the actual online reading of a story and more.
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This study is an attempt to understand and describe the compositional principles of Chaoshan traditional houses (CTH) through a computational space syntax. In this approach, the space syntax is used to describe and verify the compositional rules of Chaoshan houses. Chaoshan rural residence is a classical Lingnan style building in Chaoshan area of eastern Guangdong province, associated with Teo-Swa people, a Han Chinese minority. This study takes the example the prototypes existing in the village of Zhupu, Haojiang District, Shantou city as a case study, to analyse the spatial form of the residences. The Zhupu village houses date from the Qing Dynasty - Qianlong period, around 1700 AD. The hypothesis of this study is that CTH buildings are a result of a space compositional rule system that can be described and replicated through a computational design methodology. This study will establish a computational architectural syntax, and is the first stage of an extended research work on the evolution of Chaoshan residential types. The understanding of this evolution may help, as future work, to develop urban strategies for adaptation of the CTH heritage buildings to the contemporary living conditions. As the result of this study is a computational 3D graphics modelling algorithm, the ability of the system to generate the house layouts is not limited to the reconstruction of existing typologies of CTH and its variations. The same algorithm will allow the generation of new housing schemes, with adaptation to design variables extracted from a particular site and region.
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Countless historical sites worldwide have become unrecognisable based on their historical context. Many are cultural heritage structures with significant historical and aesthetic importance. The majority have not been well preserved; worse, some were demolished (Stenning, 2015). Furthermore, structures are part of a dynamic and changing environment, and their location within the original landscape is not always clear. People have gradually forgotten cultural traditions as environments where historical stories took place, and the look and feel have been corrupted. Immersive Virtual Reality (V.R.) allows us to relive and explore the past. However, in the Pearl River Delta Region, specifically Macau S.A.R., V.R. is still in its infancy and is not frequently used for reproducing historical sceneries. Our research focuses on reproducing heritage structures and scenery based on scarce historical information. It shows how to incorporate facts and memories into the design and create engaging, immersive experiences in V.R. scenery that takes place, both inside and outside of a cultural heritage site that has lost its original appearance. Following this, a prototype was created with specific parameters relating to past and present sceneries. We partially reproduced an existing building complex currently being used for creative and commercial purposes, but it was a shelter for the poor and a house for old ladies to live in. There were not enough facts or images linked to the inner space in the past. Inadequate information allows audiovisual scene creators to be more imaginative. The prototype focuses on a functional design that integrates cultural traits tied to local industries. The researcher used image processing software, and web 3D tools (A-Frame 1.1.0). Users can navigate by virtually “walking” and starting the visual tour; simultaneously, the story unfolds as the timeline progresses. After entering, the users jump from the present to a specific era in the past. With audio guidance, users enter the private space, shared areas, working space, etc. Users can interact with objects from the virtual scenes while the interface displays relevant audiovisual introductions. Users could utilise the virtual system to learn how the old ladies led their daily lives in the Pearl River Delta Region and grasp the local single ladies’ group lifestyle at a specific time in the past (Kwong, 2020). The interactive experience enhances the users’ interest; additionally, the users become more familiar with the region’s traditional customs. With this approach, we can create old stories using modern technology. A-Frame provides users with great convenience and can be used by any Internet browser without relying on professional V.R. devices. The content from this usage provides a greater understanding of our heritage buildings and their historical context to the wider community. This could be used in other heritage sites worldwide to reproduce and maintain structural qualities over time. This immersive experience could be a means to navigate the past while in the present. This application could benefit exhibition developers, and visitors, notably in exhibition guided tours, virtual tours inside museums, or educational assisted historical storytelling.
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Macao SAR, China is one of the more densely-populated territories in the world, and as such necessarily struggles with Soundscape quality. Nonetheless, the territory has already been identified as a unique location for to function as a Soundscape living lab (Cordeiro et al., 2014), since it has a very small manageable area that includes many types of geographical varieties, from extremely high density urban areas to natural environments with dense vegetation highland or varied water front typologies. In addition, Macao has extremely wide multicultural population with a broad range of subjects that have diverse cultural perceptions and thresholds in regards to sonic cognition. The potential impact of this diversity has already been noticed in both tourism (To & Chung, 2019) and research (Chung et al., 2016). The concept of Soundscape itself is garnering increased awareness as a viable alternative to assess the quality of the sonic environment, of use to policy management and legislation, shown not only by the increasing numbers of scientific articles on the subject (Moscoso et al., 2018), but also by recent international standardisation efforts in measuring it (ISO,2018). In this talk we shall give a preliminary description and illustration of the Soundscape in a territory that is rich in diversity and has huge potential for citizen participation. This includes approaches like noise mapping, sound mapping, Soundwalks, grounded theory efforts for detailed descriptions of the environment and use of alternative objective metrics. We will describe how to use the richness of this gathered data in developing artificial-intelligence algorithms to autonomously assess and predict the evaluation of a given Soundscape based on recordings alone. This goal will alleviate the intense human effort in subjective assessment, and may prove to be an effective and substantial diagnostics tool in planning the soundscape for prospective built environments, functioning not only as an analysis and diagnostics tool, but as a design strategy for a sustainable sonic future.