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The purpose of this paper is to examine the influence of bilateral political relations on the completion stage premium of cross-border mergers and acquisitions(CSPCMA) and the moderating roles of cultural distance, trade openness and the nature of firm ownership for this relationship.

Based on a sample of 401 cross-border mergers and acquisitions (M&A) conducted by Chinese companies from 1995 to 2019 in the Statistical Data Center (SDC), this article used weighted least squares (WLS) to empirically test the impact of bilateral political relations between countries on the CSPCMA.

The better the target country of entry’s bilateral political relations with China, the lower the premium of the transaction price paid by Chinese companies at the completion stage of cross-border M&A. Among the moderators, the study found cultural distance positively moderates the relationship between bilateral political relations between countries and CSPCMA. The degree of trade openness of the target country negatively moderates the relationship between bilateral political relations between countries and CSPCMA. The negative relationship between bilateral political relations between countries and CSPCMA is stronger when the acquirer is a state-owned enterprise (SOE).

The findings of this study not only add to the knowledge about the relationship between bilateral political relations and corporate cross-border M&A premiums, but also have managerial implications for Chinese corporate managers to sustainably reduce corporate cross-border M&A premiums.

The performance of public–private partnerships (PPPs) can be determined by a variety of factors, i.e. influencing factors (IFs). This study is undertaken for a purpose of identifying how such factors determine the project's performance (i.e. factor transmission patterns), particularly from the key stakeholders' perspectives.

A hybrid approach, which comprises a Social Network Analysis, ISM (i.e. Interpretive Structural Modeling) and an improved DEMATEL (i.e. Decision-Making Trail and Evaluation Laboratory), was developed to analyze the causal relationships between the identified IFs as well as the transmission patterns of their impacts on PPPs. Data were collected from interviews and questionnaire surveys.

The transmission patterns of the identified IFs cascade from project environment and features and stakeholders' relationship to the project company capabilities and project process. It is identified that the public authority has a higher level than that of the private entity in PPPs.

It lacks longitudinal studies to investigate the dynamics of PPP stakeholder relationships and social networks. Future research needs to explore the transmission patterns of sub-factors affecting PPP performance and extend the applicability of the developed hybrid approach.

This research provides practitioners with a robust tool that is useful for and insights into enhancing the management of lifecycle performance. It ensures the public authorities and private entities embarking on PPPs will make an informed decision about the monitoring of the life cycle performance.

This study contributes to knowledge of managerial mechanisms that can be adopted to manage factors determining the performance of PPPs. It enables an understanding of stakeholders' roles in driving the life cycle performance of PPPs.

This chapter aimed to uncover the gaps in the existing construction supply chain management (CSCM) models. Organisational culture and the fourth industrial revolution (4IR) components are the two gaps that were identified through reviewing existing CSCM models. The 4IR is driven by three components which are smart management, virtualisation and cyber-physical system. It was proposed in this chapter that the practice of CSCM should be in tandem with the components of 4IR. This chapter recommended that for the effective practice of the construction supply chain (CSC) in the 4IR era, construction stakeholders should adopt an innovative and collaborative organisational culture. The organisational culture adopted by a construction firm performs a crucial role in encouraging construction stakeholders in adopting 4IR components for CSCM. Each of the 4IR components is driven by technologies like autonomous robots, building information modelling (BIM), radio frequency identification (RFID), the internet of things (IoT) and others. Among all the technologies, it was discovered that RFID and BIM had gained prominence in most CSC literature. The chapter recommended that blockchain, digital twins and the cyber-physical system are the next trending technology for CSCM.

This study aims to examine whether and when real-time updated online search engine data such as the daily Baidu Index can be useful for improving the accuracy of tourism demand nowcasting once monthly official statistical data, including historical visitor arrival data and macroeconomic variables, become available.

This study is the first attempt to use the LASSO-MIDAS model proposed by Marsilli (2014) to field of the tourism demand forecasting to deal with the inconsistency in the frequency of data and the curse problem caused by the high dimensionality of search engine data.

The empirical results in the context of visitor arrivals in Hong Kong show that the application of a combination of daily Baidu Index data and monthly official statistical data produces more accurate nowcasting results when MIDAS-type models are used. The effectiveness of the LASSO-MIDAS model for tourism demand nowcasting indicates that such penalty-based MIDAS model is a useful option when using high-dimensional mixed-frequency data.

This study represents the first attempt to progressively compare whether there are any differences between using daily search engine data, monthly official statistical data and a combination of the aforementioned two types of data with different frequencies to nowcast tourism demand. This study also contributes to the tourism forecasting literature by presenting the first attempt to evaluate the applicability and effectiveness of the LASSO-MIDAS model in tourism demand nowcasting.

This study quantifies the casino-industry-specific intangible assets and brand equity models from a different perspective (relative to Interbrand approach, or EquiTrend approach) to investigate the relationship between advertising expenditure and firms' intangible assets in the casino industry.

This study collected the casino's data from the financial reports during the period of 2007–2018. The proposed model incorporates a brand structure moderator, and the peculiar characteristics (e.g. ΔS, HHI) of the casino industry based on previous research. We constructed three models for dependent variables using Tobin's Q−1. Model (1, 2, 3) as the primary regressions to firms' intangible assets (and thus serving as tests of hypotheses), as depicted in the diagrams of the firm's brand equity in different scenarios.

The results suggest that: (1) advertising expenditure has an adverse effect on firms' intangible assets; (2) the coefficients associated with brand structure dummy variables are both positive and significant; and the adverse effect is stronger for firms with house-of-brand's (HOB) and brand of house (BH) structure than for those with mixed branding structure (BH-HOB hybrid); (3) global brands have higher brand equity than local brands, with higher variance over time.

This study gives new evidence of the negative effect of advertising on the casino industry, which primarily reports the adverse effect of advertising in a sinful industry. Meanwhile, the proposed FBBE models can be an efficient tool to monitor a firm's annual brand equity performance with respect to their major competitors in the market.

Based on the perspective of cognitive psychology, this paper takes the M&A events of Chinese A-share listed enterprises from 2008 to 2015 as the research samples, and then empirically analyzes the influence of managerial overconfidence on M&A premium under the special circumstances in China and tests the moderating effect of debt capacity between managerial overconfidence and M&A premium.

This paper selects the M&A events of all A-share listed enterprises from 2008 to 2015 as the total samples. In view of the fact that the data in this paper are unbalanced panel data, so this paper uses the LR test, LR test and Hausman test to filter the mixed OLS model, fixed effect model and random effect model. Finally, using the random effect model for empirical testing reduces the endogeneity of the model.

The study shows that managerial overconfidence is positively correlated with M&A premium; at the same time, compared with the state-owned enterprises, the relationship between managerial overconfidence and M&A premium is more significant in private enterprises. Further study shows that debt capacity can strengthen the relationship between managerial overconfidence and M&A premium, to be specific, the larger the debt capacity is, the stronger the positive relationship between managerial overconfidence and M&A premium will be. Moreover, after considering the influence of agency cost and financing expense, and conducting endogenous test and robust test, this research’s conclusions remain the same.

This research also has some limitations. Some M&A announcements are incomplete, and the target has more information missing, resulting in a decrease in the number of samples, which may affect the accuracy of the conclusions. This paper does not address the research of the economic consequences of M&A, namely, the impact of managerial overconfidence and debt capacity on M&A performance. This is one of the future research directions for this paper.

The conclusions of this paper provide new theory evidence for Chinese enterprises' M&A decision-making.

First, enterprises should gradually improve corporate governance structure and governance mechanisms to guide more stakeholders to participate in corporate governance, and also they should strengthen the pre-evaluation, in-process control and post-supervision of managers' behavioral decisions to prevent irrational M&A caused by managerial overconfidence. Especially in private enterprises, this issue should be paid more attention. Second, enterprises should make full use of the debt governance function of creditors and improve the creditors' supervision mechanism for managers' decision-making behavior.

The innovation value and increment contribution of this paper may include the following aspects: the conclusions of this paper expand the research boundary of the relationship between managerial overconfidence and M&A premium, and enrich related literature about debt capacity and the influence of debt capacity on M&A decision-making, and also provide new theory evidence for Chinese enterprises' M&A decision-making. In a word, this research is a beneficial supplement and extension for existing research.