跨學科研究Interdisciplinary-Research課件

1、Developing new research: An interdisciplinary approachDr. Jang, SooCheong (Shawn)ProfessorPurdue UniversityJune 5, 2015Developing new research: An iNew Idea Generation?New Idea Generation?Where can we find new ideas?Academic Research ArticlesIndustry ExperiencesMethodology/Statistical TechniqueAcade

2、mic ConferencesIdentifying market demandsOther disciplines/Interdisciplinary wayWhere can we find new ideas?AcIdentifying market demands: Travel & Tourism Growth? Where?International travel: China, IndiaSenior travelLuxury travelAdventure travelShopping tourismCulinary tourismIdentifying market dema

3、nds: TIdentifying market demands: Travel & Tourism Growth? Where?Green tourismSports event tourismMedical tourismThese new demands can generate new streams of research.Identifying market demands: TInterdisciplinary Study What?Mixed disciplinesFusionInterdisciplinary Study What?Do you like Ice Cream

4、Cone? 7orDo you like Ice Cream Cone? 7How about this?8How about this?8Interdisciplinary Study Academically, What?Interdisciplinarity involves the combining of two or more academic disciplines into one activity.(Wikipedia, 2015)Interdisciplinary studies has a research process of its own to generate k

5、nowledge but freely borrows methods from other disciplines when appropriate9Interdisciplinary Study AcademInterdisciplinary Study Once again, in relation to Research?Mix of Subjects/IdeasApplication of a subject in one area to the other areaExamples:Biology and Engineering: BioengineeringPhysics and

6、 Strategic ManagementRobotics and Medical ScienceInterdisciplinary Study Once aWhy Interdisciplinary Study?It creates something neworIt generates something big11Why Interdisciplinary Study?ItInterdisciplinary Study?Dont worry:You dont have to be an expert in multiple areasSuppose you have a specialt

7、y area, a basic understanding of one more area can be a starting point to develop a comboThat way, we can expand our research horizon with maintaining our specialty area.12Interdisciplinary Study?Dont Possibility to Everyone?Interdisciplinary Study for Management or Public Administration13Possibilit

8、y to Everyone?InterdNecessary Conditions for Interdisciplinary StudyOpen MindScholarly curiosityCreativity.14Necessary Conditions for InterWhere to start for Interdisciplinary Studies?Approach to identify areas? Who am I? SWOT analysisApproach to identify subjectsMake friends with different majors a

9、nd learn from themMajor/Minor or Dual majorConsider your background and experienceWhere to start for InterdiscipWho am I?16Who am I?16My BackgroundEducation B.S. in Mechanical Engineering (1984)Master of Business Admin (MBA) (1989)Master of Tourism Admin (MTA) (1999)Ph.D. in Hospitality & Tourism Ma

10、nagement (2002)Industry ExperienceOfficer (Lieutenant), Civil Engineering Division of Korean Air Force (3.5 years)Deputy General Manager, Investment Banking Industry (9 Years)ProfessorshipKansas State University (2002-2005)Purdue University (2005 Present)My BackgroundEducation My experiences about I

11、nterdisciplinary StudiesFinancial Portfolio Theory and Travel Market MixesEnvironmental psychology and restaurant service qualitySunk costs and consumer behaviors18My experiences about InterdisSharing my Experiences19The 1st example for Interdisciplinary StudySharing my Experiences19The 1sAn Applica

12、tion of a Finance Theory to Tourism Marketing:“Financial Portfolio Theory and Travel Segment Mixes”Published at Annals of Tourism Research Jang (2004)An Application of a Finance ThFinancial Portfolio TheoryDiversification (Investing in more than one security) helps reduce risk: Just like “Dont put y

13、our all eggs in one basket”)(Markowitz, 1952, 1959; Sharpe, 1964; Elton & Martin, 1977; Bierman, 1981; Olsen, 1984; Wagner, 1994)Risk?Uncertainty or variation in investment return or business earningsA measure of risk: Standard DeviationFinancial Portfolio TheoryDiveFinancial Portfolio Theory (Contd

14、)Suppose we have stock A and stock B. We think of A as the riskier.Returns or EarningsTimeBAFinancial Portfolio Theory (CoFinancial Portfolio Theory (Contd)If the returns on these stocks move together over time (Perfectly Correlated)No Risk ReductionReturnsor EarningsTimeBAFinancial Portfolio Theory

15、 (CoFinancial Portfolio Theory (Contd)If the returns on these stocks move in opposite directions over time (Perfectly Uncorrelated)Perfect Risk Reduction: Stable Returns or EarningsReturns or EarningsTimeBAFinancial Portfolio Theory (CoFinancial Portfolio Theory (Contd)Because most stocks are somewh

16、ere between the two extreme,There are at least some risk reduction through diversificationTherefore, if this theory applies to tourism marketing, diversifying tourist segments is an appropriate approach for reducing variation of tourist arrivals, travel receipts, lodging revenues and etc.Financial P

17、ortfolio Theory (CoFinancial Portfolio Theory (Contd)Markowitzs “Efficient Frontier”ReturnsRisk (Std Dev)E(R3)E(R2)E(R1)abcdefS(R1)S(R2)S(R3)Efficient Solutions:1. Path: b e (not a,f)2. Risk avoiders: b3. Risk takers: eFinancial Portfolio Theory (CoWhat I tried to do?“Tourism Efficient Frontier”Effi

18、cient travel segment mixes that can minimize the seasonal effect of tourism receiptsWhat I tried to do?“Tourism EfAnalysis Method Quadratic Programming: To discover Efficient Frontier to minimize seasonal variations in demand: Minimize V = i Xi2 i2 + 2i j Xi Xj ij , subject to Xi 0, for all i Xi 1,

19、for all i i Xi =1Analysis Method Application Sample for demonstrating my thoughtSegmentsC1: Shopping & Dining Segment (103, 23.7%)C2: Nature & Local Lifestyle Segment (96, 22.1%)C3: Culture & Entertainment Segment (55, 12.7%)C4: Touring & Sightseeing Segment (99, 22.8%)C5: Passive Segment (81, 18.7%

20、)Application Sample for demonstMonthly Tourism Receipts by Market SegmentMonthly Tourism Receipts by MEfficient Segment Mix SenariosEfficient Segment Mix SenarioTourism Efficient FrontierTourism Efficient FrontierMeaningsSuggest a quantifiable tourism receipts-risk path (Tourism Efficient Frontier)

21、for travel destinationsProvide a direction for tourism development and resource allocation criteria with efficient travel mixesMeaningsExample 2Financial Portfolio Approach to Taiwanese optimal tourist market mixespublished at Tourism Management Jang and Chen (2008)Example 2Financial Portfolio AIntr

22、oductionThe instability of demand for intl tourism may result from many variables, such as changes in exchange rates, prices, economic upheavals, political unrest The instability pattern of arrivals can be different by nationality because each country shows different sensitivity to the changes of th

23、e variablesThe instability minimizing issue in tourism demand is similar to a situation when stock investors try to choose optimal portfolios that minimize return volatilityIntroductionThe instability ofObjectives- To find optimal tourist market mixes to minimize the instability of tourist arrivals

24、in TaiwanObjectivesBasic Logicthe number of tourist arrivals: ReturnVolatility of arrivals: riskTo apply the portfolio theory, we divided the overall tourist market into 10 major sub-markets.Expected return of a portfolio (overall tourist arrivals) comprising 10 sub-markets is the weighted average o

25、f the expected return of each sub-market.Basic Logicthe number of touri跨學科研究Interdisciplinary-Research課件From Table 1Variance-Covariance MatrixFrom Table 1Variance-CovariancOptimal SolutionsOptimal Solutions跨學科研究Interdisciplinary-Research課件Policy Implications and Conclusions1.Using the financial port

26、folio theory, we can obtain optimal foreign tourist market mixes to minimize variability in visitor arrivals.2.If they pursue a high-return/high-risk solution, they have to focus on Japanese market. Increase in Thailand and the Philippines to mitigate the volatility of Japanese market. Policy Implic

27、ations and ConcluExample 3Application of Environmental Psychology to Restaurant Service Quality43Example 3Application of EnviroThe Effect of Environmental Perceptions on Behavioral Intentions through Emotions: The Case of Upscale Restaurants Published at Journal of Hospitality and Tourism Research Ryu and Jang (2007)The Effect of Environmental PeM-R Model (Mehrabian & Russell, 1974).Environmental StimuliAtmospheric cuesEmotional StatesPleasureArousalDominanceBehavioral ResponseApproachAvoidanceS: Stimuli, O: Organism R: Respo