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The success of public–private partnership (PPP) projects is highly correlated to the successful management of risks encountered during the operation phase. PPP projects are especially exposed to risk due to the long operation period over which revenues need to be generated to recoup substantial initial investment and operational running costs. Despite the critical impact of risk exposure, limited research has been specifically undertaken on the matter of operational risk management. This study seeks to address this oversight by identifying and evaluating operational risk management strategies for PPPs.

Vulnerability theory is the theoretical lens used, with context drawn from Chinese PPP projects. Based on the data collected from expert interviews and questionnaires, 28 operational risk management strategies are identified. A fuzzy synthetic method is employed to analyze the effectiveness of the 28 strategies.

The findings reveal that providing an exit mechanism clause into the contract, establishing a comprehensive performance evaluation mechanism and developing a clear compensation mechanism are the top three effective strategies. This study also reveals that risk mitigation approaches that reduce vulnerability prove more effective than attempts to reduce external threats. Specifically, strategies aimed at managing contract, political, technical and financial risk are the most effective.

The findings of this study extend current knowledge regarding the risk management of PPP projects. They also offer a reference by which practitioners may select effective operational risk management pathways and thereby, galvanize the sustainable development of PPPs.

Infrastructure financialization plays a critical role in infrastructure development and urban growth around the world. However, on the one hand, the existing research on the infrastructure financialization focuses on qualitative and lacks quantitative country-specific studies. On the other hand, the spatial heterogeneity and influencing factors of infrastructure financialization are ignored. This study takes China as a typical case to identify and analyze the spatial characteristics, development process and impact factors of infrastructure financialization.

To assess the development and characteristics of infrastructure financialization in China, this study constructs an evaluation index of infrastructure financialization based on the infrastructure financialization ratio (IFR). This study then analyzes the evolution process and spatial pattern of China's infrastructure financialization through the spatial analysis method. Furthermore, this study identifies and quantitatively analyzes the influencing factors of infrastructure financialization based on the spatial Dubin model. Finally, this study offers a policy suggestion as a governance response.

The results demonstrate that infrastructure financialization effectively promotes the development of infrastructure in China. Second, there are significant spatial differences in China’s infrastructure financialization. Third, many factors affect infrastructure financialization, with government participation having the greatest impact. In addition, over-financialization of infrastructure has the potential to lead to government debt risks, which is a critical challenge the Chinese Government must address. Finally, this study suggests that infrastructure financialization requires more detailed, tailored,and place-specific policy interventions by the government.

This study not only contributes to enriching the knowledge body of global financialization theory but also helps optimize infrastructure investment and financing policies in China and provides peer reference for other developing countries.

The study aims to explore and classify the key enablers of the Association to Advance Collegiate Schools of Business (AACSB) implementation in business schools.

By applying the Interpretive Structural Model (ISM) approach, it builds a hierarchical model of the identified enablers of AACSB implementation. Additionally, the Fuzzy Matriced Impacts Croises-Multiplication Applique and Classement (FMICMAC) technique is used to classify and determine the influence of these enablers on the implementation of AACSB accreditation.

The paper presents an ISM model of the identified enablers and draws managerial insight from it. Categorization of the key enablers into four groups helps in understanding the relative influence of each group of enablers on the AACSB implementation in business schools.

The proposed model of the key enablers will help business schools that are pursuing AACSB accreditation prioritize the enablers. As the study has considered experts' opinions to establish the model, some amount of bias cannot be discounted.

The development of the ISM model of the key enablers of AACSB implementation in business schools is a unique attempt. The findings will help business schools focus on the key enablers that influence implementation of AACSB standards.

In response to the challenges posed by the conventional manual flange docking method in the LNG (Liquefied Natural Gas) loading process, such as low positioning accuracy, constraints on production efficiency and safety hazards, this study analyzed the LNG five-axis loading arm’s main functions and structural characteristics.

An automated solution for the joints of the LNG loading arm was designed. The forward kinematic model of the LNG loading arm was established using the Denavit–Hartenberg (D-H) parameter method, and its workspace was analyzed. The Newton–Raphson iteration method was employed to solve the inverse kinematics of the LNG loading arm, facilitating trajectory planning. The relationship between the target position and the joint variables was established to verify the stability of the arm’s motion. Flange center identification was achieved using the Hough transform function. Based on the ROS platform, combined with Gazebo and Rviz, an experimental simulation of automatic docking of the LNG loading arm was conducted.

The docking errors in the XYZ directions were all less than 0.8 mm, meeting the required docking accuracy. Moreover, the motion performance of the loading arm during docking was smooth and free of abrupt changes, validating its capability to accomplish the automatic docking task.

The proposed trajectory planning and automatic docking scheme can be used for the rapid filling of LNG filling arms and LNG tankers to improve the efficiency of LNG transportation. In guiding the docking, the proposed automatic docking scheme is an accurate and efficient way to improve safety.

The purpose of this study is to provide evidence that government financing behavior has an impact on the outward foreign direct investment (OFDI) of enterprises.

This paper uses debt data from local government financing vehicles to measure the local government debt in China. Based on the data of listed manufacturing firms in China from 2010 to 2018, this paper uses the Tobit model to verify the impact of local government debt and firms' OFDI.

The results indicate that local government debt impedes firms' OFDI, with a more pronounced impact on state-owned enterprises (SOEs) and those with higher political connections. Furthermore, our study suggests that the dampening effect of local governments on firms' OFDI is mitigated in regions following the implementation of the Local Government Debt Management Act.

This study verifies the negative impact of local government debt activity on firms' overseas investments. This is not due to debt crowding out, but rather to the fact that local governments prefer to keep resources locally to stimulate the economy. This paper offers novel insights into the theoretical mechanisms by which local government behavior influences firms' investment activities in emerging markets.

The importance of the agri-food supply chain in both food production and distribution has made the issue of its development a critical concern. Based on configuration theory and congruence theory, this research investigates the complex impact of supply chain concentration on financial growth in agri-food supply chains.

The cluster analysis and response surface methodology are employed to analyse the data collected from 207 Chinese agri-food companies from 2010 to 2022.

The results indicate that different combination patterns of supply chain concentration can lead to different levels of financial growth. We discover that congruent supplier and customer concentration is beneficial for companies’ financial growth. This impact is more pronounced when the company is in the agricultural production stage of agri-food supply chains. Post-hoc analysis indicates that there exists an inverted U-shaped relationship between the overall levels of supply chain concentration and financial growth.

Our research uncovers the complex interplay between supply chain base and financial outcomes, thereby revealing significant ramifications for agri-food supply chain managers to optimise their strategies for exceptional financial growth.

This study proposes a combined approach of cluster analysis and response surface analysis for analysing configuration issues in supply chain management.

In this paper, the authors study the entry and outsourcing strategies of manufacturer while considering the brand spillover effect resulting from outsourcing. The supply chain comprises two manufacturers: one being the entrant with a strong brand, and the other as the incumbent with a weak brand. The entrant decides whether and how to enter the market.

Stackelberg game is applied to study the optimal strategies for the manufacturers. This paper conducts a comparative analysis on four situations, yielding conclusions and managerial insights.

The results show that, for the entrant, there is no need to worry about the brand spillover effect in the outsourcing process, which is very interesting and counterintuitive. To get further, the authors find the reason: The spillover effect causes the entrant’s equilibrium retail price to grow faster than the wholesale price. They also prove that a stronger brand effect empowers the entrant to challenge industry barriers, while the impact of the brand spillover effect is the opposite. For the incumbent who acts as the weak party in this issue, it is demonstrated that the optimal choice is to continue selling when facing the encroachment and outsourcing call from the entrant.

Differing from previous studies, the authors notice the brand spillover effect caused by outsourcing when studying company’s entry strategy. They further divide the brand effect into two parts, one of which does not exhibit a spillover.

This study examines the link between the knowledge creation process, ambidextrous innovation, and competitive advantage. Further, this study also tested the moderating role of organizational agility on the relationship between the knowledge creation process and ambidextrous innovation.

The empirical study’s data were collected by surveying 306 respondents employed in 140 Pakistani Small and Medium Enterprises (SMEs). The questionnaire was designed according to the study’s requirements and was based on theoretical knowledge and findings from previous research on the knowledge-creation process, ambidextrous innovation, and competitive advantage. All hypotheses were tested using a structured regression method.

The study indicates that the knowledge creation process significantly impacts a firm’s competitive advantage. Additionally, this study demonstrates that ambidextrous innovation can moderate the relationship between the knowledge-creation process and competitive advantage.

Future studies should examine mediating factors, such as organizational culture, leadership style, and industry characteristics, as well as moderating variables, such as environmental turbulence.

This study guides SME leaders on the importance of knowledge creation and ambidextrous innovation in achieving operational success and gaining a competitive advantage.

This study explores how the knowledge creation process directly and indirectly, enhances organizational capacity for competitive advantage through the mediating roles of ambidextrous innovation and the moderating role of organizational agility.

This study introduces the Digital Maturity Assessment Model (DMAM), a model tailored to assess the digital maturity of SMEs, tracing its development from addressing business challenges to establishing a comparative analysis framework grounded in Resource Dependence Theory (RDT).

DMAM is based on positivist philosophy and objectivist epistemology, supported by Design Science Research (DSR) and Capability Maturity Model Integration (CMMI). The methodology involves iterative development, from problem identification to creating a practical solution for assessing SMEs' digital maturity and guiding digitalization efforts.

DMAM offers a clear and specific methodology, distinguishing itself by addressing the unique needs of SMEs, particularly resource-dependent ones. The model’s development fills critical gaps in existing literature and provides a practical artifact for SMEs' digitalization.

DMAM is original in its focus on the specific needs of resource-dependent SMEs, offering actionable recommendations and addressing shortcomings in existing models. It serves as a foundational framework for SMEs' digital transformation, making a significant contribution to the digital maturity assessment literature.

This study aims to determine whether knowledge creation processes (KCPs) – knowledge exchange and knowledge integration affect digital innovation (DI), including information technology (IT)-enabled capabilities (ITECs) as a mediator and absorptive capacity (AC) as a moderator.

With a survey data set of 390 employees from Pakistani software small- and medium-sized enterprises (SMEs), the current study employed Structural Equation Modeling (SEM) using Smart Partial Least Squares to estimate the structural relationships in the conceptual model.

The results confirm that KCPs – knowledge exchange and knowledge integration positively enhance software SME's DI; ITECs play a partial mediating role in the linkage between KCPs and DI; AC positively moderates the relationship between knowledge integration and ITECs, and ITECs and DI, while AC doesn’t moderate the relationship between knowledge exchange and ITECs. The AC positively moderates the mediating role of ITECs amongst KCPs (knowledge exchange and knowledge integration) and DI, respectively.

This research uniquely integrates the knowledge-based view and dynamic capability theory to present a comprehensive framework that explains the interdependencies between knowledge process, ITECs and AC in driving DI. This approach advances the understanding of how software SMEs can strengthen internal knowledge and IT resources to achieve superior innovation outcomes.