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This paper aims to study the effect of the establishment of bankruptcy courts on bond issuance market. This paper helps to predict that the introduction of bankruptcy courts in China can mitigate price distortions caused by the implicit government guarantees and promote the development of the high-risk bond market.

This paper exploits the staggered introduction of bankruptcy courts across cities to implement a differences-in-differences strategy on bond issuance data. Using bonds issued in China between 2018 and 2020, the impact of bankruptcy courts on the bond issuance market can be analyzed.

This paper reveals that bond issuance credit spreads increase and is more sensitive to firm size, profitability and downside risk of issuance entity after the introduction of bankruptcy courts. It also reveals a substantive increase in bond issuance quantity and a decrease in issuer credit ratings following the establishment of bankruptcy courts. In addition, the increase of credit spreads is more prominent for publicly traded bonds, those whose issuers located in provinces with lower judicial confidence, bonds issued by SOEs and bonds with stronger government guarantees. Finally, the role of bankruptcy courts is more pronounced in regions with higher marketization.

This paper relates to previous studies that investigate the impact of laws and institutions on external financing. It helps provide new evidence to this literature on how improvements of efficiency and quality in bankruptcy enforcements relate to the marketization of bond issuance. The results provide further evidence on legal institutions and bond financing.

This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing constraints, low-quality accounting information or less tangible assets.

We use a proprietary dataset of firms listed on the Shanghai and Shenzhen Stock Exchanges to investigate the impact of mixed ownership reform on non-state-owned enterprise (non-SOE) innovation. We employ regression analysis to examine the association between mixed ownership reform and firm innovation.

The study finds that non-state-owned firms can improve innovation by acquiring equity in state-owned enterprises (SOEs) under the reform. Eased financing constraints, lowered financing costs, better access to tax incentives or government subsidies, lowered agency costs, better accounting information quality and more credit loans are underlying the impact. Additionally, cross-ownership connections amongst non-SOE executives and government intervention strengthen the impact, whilst regional marketisation weakens it.

This study adds to the literature on the association between mixed ownership reform and firm innovation by focussing on the conditions under which this impact is stronger. It also sheds light on the policy implications for SOE reforms in emerging economies.

The purpose of this paper is to provide a guiding framework for studying the travel patterns of PT users. The combination of public transit (PT) users’ travel data and user profiling (UP) technology to draw a portrait of PT users can effectively understand users’ travel patterns, which is important to help optimize the scheduling of PT operations and planning of the network.

To achieve the purpose, the paper presents a three-level classification method to construct the labeling framework. A station area attribute mining method based on the term frequency-inverse document frequency weighting algorithm is proposed to determine the point of interest attributes of user travel stations, and the spatial correlation patterns of user travel stations are calculated by Moran’s Index. User travel feature labels are extracted from travel data containing Beijing PT data for one consecutive week.

In this paper, a universal PT user labeling system is obtained and some related methods are conducted including four categories of user-preferred travel area patterns mining and a station area attribute mining method. In the application of the Beijing case, a precise exploration of the spatiotemporal characteristics of PT users is conducted, resulting in the final Beijing PTUP system.

This paper combines UP technology with big data analysis techniques to study the travel patterns of PT users. A user profile label framework is constructed, and data visualization, statistical analysis and K-means clustering are applied to extract specific labels instructed by this system framework. Through these analytical processes, the user labeling system is improved, and its applicability is validated through the analysis of a Beijing PT case.

Small- and medium-sized enterprises (SMEs) often lack adequate accounting systems and may even fail because of accounting inefficiencies. Indeed, accounting can mitigate the course of a crisis and support a troubled SME’s turnaround. Its impact on reorganization success, however, has scarcely been researched so far. Therefore, this paper aims to examine the effects of several accounting parameters, namely, the quality of accounting systems, quality of early warning systems, formal planning, the standard of financial accounting and reorganization planning on the short- and long-term success of court-supervised reorganization.

The impact of accounting on reorganization success is investigated in a sample of all SME bankruptcy cases with ten or more employees (n = 117) in Upper Austria in 2012 including data for short-term survival (in 2016) and long-term survival (in 2019).

This study found evidence that the general quality of accounting systems, the quality of early warning systems and written reorganization plans positively influence the outcomes of the analyzed court-supervised reorganizations of SMEs. In particular, the existence of a reorganization plan significantly increases the short- and long-term reorganization success by ensuring the efficient and effective use of resources in the reorganization process.

This study should increase the awareness of SMEs’ owner managers, consultants, creditors and legislators for the importance of accounting in the context of reorganization. The fact that the effect of accounting on reorganization success is less pronounced in the long-term view indicates the necessity of increasing the strategic focus in SMEs’ accounting instruments.

This study provides new evidence on the impact of specific accounting parameters on the short- and long-term success of the court-supervised reorganization of SMEs. Furthermore, this study points out the high relevance of reorganization plans for SMEs.

The purpose of this paper is to identify the key drivers and challenges to supply chain collaboration in the humanitarian sector; to appraise the relationships between international non-governmental organizations (INGOs) and local non-governmental organizations (LNGOs) during disaster relief; and to explore the humanitarian context in regard to supply chain collaboration.

Literature from both the commercial and humanitarian sectors is discussed in the context of vertical partnerships. A Jordanian study spanning a network of 26 international and LNGOs is explored via semi-structured interviews.

The research provides valuable insights on the challenges facing LNGOs and INGOs when developing partnerships. Contextual factors, including host governmental policies and the social-economic setting of a disaster directly affect the motivations for supply chain collaboration between LNGOs and INGOs.

The research is built on interviewees with 30 humanitarian professionals working in one country during an extended crisis. The majority of the empirical data are only from one actor’s perspective, thus further research into dyadic and network relationships is required. Approaches to addressing the diverse cultural and decision-making perspectives of LNGOs and INGOs warrant further investigation.

Recognizing the motives and challenges to vertical partnerships between LNGOs and INGOs will assist the managers, both at the strategic and operational levels, to find solutions and evolve strategies to build effective partnerships. Compromise and consideration for partner’s drivers and cultural views are essential for effective joint humanitarian relief initiatives.

This paper extends supply chain collaboration to a humanitarian context. Overcoming the challenges facing collaborative efforts and complementary nature of the drivers provide a means to achieve effective partnerships. Despite the uniqueness of the humanitarian context, such as the secondary nature of cost and dynamic demand, the core principles of collaboration still hold.

The efficiency of each of an organization’s individual workers determines its effectiveness. The study aims to explore the relationship between human resource management (HRM) practices and organizational effectiveness with employee performance as a mediating variable.

Data were collected from 800 police officers in the Greater Accra and Tema regions. The data were supported by the hypothesized relationship. Construct reliability and validity was established through confirmatory factor analysis. The proposed model and hypotheses were evaluated using structural equation modeling.

The results show that career planning and employee performance were significantly related. Self-managed teams and employee performance were shown to be nonsignificantly related. Similarly, performance management and employee performance were shown to be nonsignificantly related. Employee performance significantly influenced organizational effectiveness. The results further indicate that employee performance mediates the relationship between HRM practices and organizational effectiveness.

The generalizability of the findings will be constrained due to the research’s police service focus and cross-sectional data.

The study’s findings will serve as valuable pointers for the police administration in the adoption, design and implementation of well-articulated and proactive HRM practices to improve the abilities, skills, knowledge and motivation of officer’s to inordinately enhance the effectiveness of the service.

By evidencing empirically that employee performance mediates the relationship between HRM practice and organizational effectiveness, the study extends the literature.

Many mathematical models have been shared to communicate about the COVID-19 outbreak; however, they require advanced mathematical skills. The main purpose of this study is to investigate in which way computational thinking (CT) tools and concepts are helpful to better understand the outbreak, and how the context of disease could be used as a real-world context to promote elementary and middle-grade students' mathematical and computational knowledge and skills.

In this study, the authors used a qualitative research design, specifically content analysis, and analyzed two simulations of basic SIR models designed in a Scratch. The authors examine the extent to which they help with the understanding of the parameters, rates and the effect of variations in control measures in the mathematical models.

This paper investigated the four dimensions of sample simulations: initialization, movements, transmission, recovery process and their connections to school mathematical and computational concepts.

A major limitation is that this study took place during the pandemic and the authors could not collect empirical data.

Teaching mathematical modeling and computer programming is enhanced by elaborating in a specific context. This may serve as a springboard for encouraging students to engage in real-world problems and to promote using their knowledge and skills in making well-informed decisions in future crises.

This research not only sheds light on the way of helping students respond to the challenges of the outbreak but also explores the opportunities it offers to motivate students by showing the value and relevance of CT and mathematics (Albrecht and Karabenick, 2018).

This paper introduces a new mathematical model for analyzing the economic benefits of incorporating the fourth party logistics (4PL), which is a contractor (i.e. agent) for the supply chain coordination and construction based on the division of community and the outsourcing development. Based on the physical theory and the wave-particle duality, a supply chain is the special organization whose characteristic has wave-particle duality. The mathematical model enriches the connotation of 4PL and it broadens the thought for 4PL development. Secondly, the proposed mathematical model predicated on transaction costs, is supported by Transaction Cost Theory (TCT) and acts as the theoretical analysis tool of 4PL for coordinating 3-party generic supply chain. Through the model, some trendy conclusions can be drawn to provide theoretical support for 4PL’s practices. Finally, a case illustrates our conclusions.

Total quality management (TQM) must include orientation towards quality awareness in the overall organisational processes in a firm. A successful TQM needs a supportive culture that can adapt to alterations and strengthen innovation. This study aims to confirm the association between the style of management known as organisational culture (OC) and TQM practices in manufacturing Small and Medium Enterprises (SMEs).

Data-driven research was drawn from self-assessment inquiries among 772 managers/owners of manufacturing SMEs of the Saudi Arabia Kingdom (KSA). The dominant culture was detected by means of a cross-sectional technique.

The findings enrich the literature by revealing a positive effect of OC on TQM execution in the manufacturing SMEs of KSA.

Prior to the execution of TQM operations, administrators of manufacturing SMEs should be aware of the culture within organisations so that TQM may be implemented.

The study suggests that organisations, particularly manufacturing SMEs, should constantly strive to enhance the TQM culture.

Amid intense competition among manufacturing SMEs, it is crucial to guarantee their high performance. This research assists society in evaluating the strength of a particular SME sector and further enables it to assess which SMEs really have a good OC–TQM relation.

The paper creates and presents various platforms of the OC and TQM as a unified body of knowledge.

The 1997-98 financial crisis has had a profound effect on how East Asian economies the role of the IMF and its strategic interests relative to those of the United States in the international financial regime. It has prompted them to create a regional mechanism for financial and monetary cooperation, ranging from deeper policy dialogue and surveillance, to a system of financial cooperation, and common exchange rate arrangements. This paper analyses the economic and strategic motivations behind this and outlines recent developments in financial cooperation in East Asia to provide possible directions for the future.

A network of bilateral swap arrangements under the Chiang Mai Initiative(CMI) needs stronger policy dialogue and surveillance to develop into a regional financing facility, a sort of East Asian IMF. The facility plays a role as an regional lender of last resort, providing short-term funds to a member country facing a temporary liquidity shortage and for market intervention to stabilize foreign exchange rate. East Asian countries need to achieve regional exchange rate stability. In the long run, the region may develop a common currency arrangement, but it cannot be expected in the very near future because there is no convergence of macroeconomic conditions, economic structure and systems. A realistic approach would be for East Asian developing countries to adopt a currency basket system to minimize the impact of dollar/yen exchange rate volatility on their economies. Strong political will and a vision for regional integration will be required to introduce it.