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1 – 10 of 25Yihua Cao, Yong Chen, Kungang Yuan and Changjiang Jin
Control laws that are based on the nonlinear inverse dynamics (NID) of the aircraft offer the potential for providing improved levels of performance over conventional flight…
Abstract
Control laws that are based on the nonlinear inverse dynamics (NID) of the aircraft offer the potential for providing improved levels of performance over conventional flight control designs. The NID and its application in the flight control during windshear penetration are introduced here. With the employment of a real engineering windshear model and NID, a low‐altitude windshear penetration flight control law is designed. The simulative calculation results indicated that the NID control logic works effectively in the trajectory control of the aircraft during the penetration of windshear.
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Jun Zhang, Zuqiang Liu, Yanjie Liu and Yong Liu
The purpose of this paper is to apply grey statistical model to identify and classify live fault rupture.
Abstract
Purpose
The purpose of this paper is to apply grey statistical model to identify and classify live fault rupture.
Design/methodology/approach
Based on grey statistical mode, this paper uses eight faults' ripping speed observation data from 1997 to 2001, according to the grey statistics method for analysis, and recognizes active fault rupture situation. Using the conventional methods, namely taking all faults monitoring stations' average dislocation rate to analysis and make judgment, the average results are obtained.
Findings
The results show that the results are closer to reality because the grey statistical evaluation method has considered dislocation rate and other discrete factors.
Practical implications
The method exposed in the paper can be used to monitor and recognize live fault rupture in earthquake prediction.
Originality/value
According to the fault dislocation rate, this paper advances active fault rupture identification and classification method based on grey statistical model.
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Yue Zhang, Changjiang Zhang, Sihan Zhang, Yuqi Yang and Kai Lan
This study aims to examine the risk-resistant role of environmental, social and governance (ESG) performance in the capital market, focusing on an organizational standpoint…
Abstract
Purpose
This study aims to examine the risk-resistant role of environmental, social and governance (ESG) performance in the capital market, focusing on an organizational standpoint. Furthermore, it aims to offer management decision advice to companies seeking protection against stock market risks. Conclusions obtained through this research have the potential to enrich the economic consequences of ESG performance, provide practical implications for enhancing corporate ESG performance, improving corporate information quality and stabilizing capital market development.
Design/methodology/approach
Based on the data of Chinese A-share listed companies from 2009 to 2020, this study examines the risk-resistant function of ESG performance in the capital market. The impact of ESG performance on management behavior is analyzed from the perspective of organizational management and the three mechanisms of pre-event, during the event and post-event.
Findings
This paper demonstrates that companies that effectively implement ESG practices are capable of effectively mitigating risks associated with stock price crashes. Heterogeneity analysis reveals that the inhibitory effect of ESG performance on stock price crash risk is more pronounced in nonstate-owned enterprises and enterprises with higher levels of marketization. After controlling for issues such as endogeneity, the conclusions of this paper are still valid. The mechanism analysis indicates that ESG performance reduces the risk of stock price crash through three paths of organizational management: pre-event, during the event and post-event. That is, ESG performance plays the role of restraining managers’ opportunistic behavior, reducing information asymmetry and boosting investor sentiment.
Originality/value
This paper provides new insights into the relationship between ESG performance and stock price crash risk from an organizational management perspective. This study establishes three impact mechanisms (governance effect, information effect and insurance effect), offering a theoretical basis for strategic corporate decisions of risk management. Additionally, it comprehensively examines the contextual differences in the role of ESG performance, shedding light on the specific domains where ESG practices are influential. These findings offer valuable insights for promoting stable development in the capital market and fostering the healthy growth of the real economy.
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The purpose of this paper is to demonstrate that the sustainable development thought is one good reason why Chinese civilization is continuously developing, and it can be used as…
Abstract
Purpose
The purpose of this paper is to demonstrate that the sustainable development thought is one good reason why Chinese civilization is continuously developing, and it can be used as a reference for the development of Chinese agriculture today.
Design/methodology/approach
The paper employs a historical analysis approach to examine the sustainable thoughts concerning Chinese traditional agriculture, including view of sancai, farming season, fertility, the nature of matters, recycling, and economization.
Findings
The results reveal that the nature of Chinese traditional agriculture is akin to ecological agriculture, which is precious heritage for China and the whole world.
Originality/value
The originality of this paper is that it confirms the fundamental reason of the continuous development of Chinese civilization which, based on organization of sustainable development thought, lies in traditional agriculture.
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The world has entered the Knowledge Age. Numerous events provide evidence that traditional organizational systems are finding it difficult to maintain their competitiveness in…
Abstract
The world has entered the Knowledge Age. Numerous events provide evidence that traditional organizational systems are finding it difficult to maintain their competitiveness in this unpredictable world. The “organization” itself has become the most important factor of competition.Organizational revolution is the first item on the agenda. This paper examines traditional Chinese research organizations and concludes that organizational innovation is a precondition for creation and innovation. The author discusses a new type of reserach organization ‐ the virtual institute (VI), its background and significance. The author also looks at the organizational change in China and offers examples of VIs both in the USA and in China. The experiences of implementing VIs in China indicate that the VI is an inevitable trend for the future. Finally, the author discusses the outlook and challenges of VI.
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Berna Kirkulak, Bin Qiu and Wei Yin
This paper seeks to examine the impact of foreign direct investments (FDI) on air pollution in China using 286 cities from 2001 to 2007. It is a particular interest of this paper…
Abstract
Purpose
This paper seeks to examine the impact of foreign direct investments (FDI) on air pollution in China using 286 cities from 2001 to 2007. It is a particular interest of this paper to observe the relationship between FDI and air pollution in particular after China joined to World Trade Organization in 2001. This paper provides a better understanding of economic growth and foreign investment while maintaining a sustainable environment. In order to achieve this task, this paper tests whether or not FDI inflow has impact on environmental deterioration in particular on air quality.
Design/methodology/approach
Since the data are both cross‐sectional and time series, panel data analyses (fixed effects and random effects) were applied. In order to detect the presence of serial correlation of error term, Durbin‐Watson test was used. As serial correlation problem was determined, generalized least square (GLS) using Ar(1) model was used to overcome serial correlation.
Findings
The findings show that FDI has no negative impact on the air quality in China. Contrary to expectations, the presence of FDI reduces the air pollution. This result can be attributed by the role of FDIs in the economy that FDIs are perceived as main sources of advanced technology in China. One of the striking findings of the paper shows that FDI has no significant impact on air quality in the central and western cities. The reason is that low level of FDI inflows to cities located in the Center and West. The findings are robust under both panel data (fixed effects and random effects) and GLS estimations.
Practical implications
The results provide a wide array of information useful to practitioners, policy makers. Since the paper shows that FDI has no negative impact on the air quality, this result is crucial in attracting FDI to China.
Originality/value
This paper provides the largest sample including 286 cities all over China from 2001 to 2007. Considering the distribution of FDI across China, the sample is divided into three regions. Making sub‐samples of the FDI distribution allowed us to examine how the impact of FDI differs on air quality in the East, Central and West regions.
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Tingting Zhou and Juan LI
The purpose of this paper is to explore financial quality problems, based on the dynamics of the ownership structure, in the privatization process to clarify the internal relation…
Abstract
Purpose
The purpose of this paper is to explore financial quality problems, based on the dynamics of the ownership structure, in the privatization process to clarify the internal relation among the ownership’s attribution of the commercial mixed ownership company, the company’s performance and its financial relationships. This paper also examines the mixed ownership enterprise’s potential problems during the development process.
Design/methodology/approach
Adopting the single case study method, the authors selected the mixed ownership public company Hubei Sanxia New Building Materials Co., Ltd. (stock code: 600293) to explore, from a privatization perspective, the impact of mixed ownership on financial quality.
Findings
The study found that Sanxia experienced tight cash flow and heavy debt burdens due to the privatization and that its controlling shareholders used non-operating income to support Sanxia, thus characterizing the dual role of “the grabbing hand” and “the helping hand.” Sanxia’s privatization process highlighted the volatility of performance, the exception of monetary funds and the existence of accounting fraud rather than the prosperous development of the capital combination.
Originality/value
These findings provided case support that privatization negatively affects the financial quality of the company. Previous studies have indicated that there should be greater focus more on the issue that state-owned shares rebound during the process of privatization and that, with respect to commercial mixed ownership reform of state-owned enterprises, such reform must avoid the passive transfer of corporate control, ensure the fairness of the related transactions, prevent the loss of state-owned assets and preclude the controlling shareholders from seizing interests of listed companies.
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Mukesh Garg, Mehdi Khedmati, Fanjie Meng and Prabanga Thoradeniya
The purpose of this paper is to examine whether the quality of management can mitigate the positive association between corporate tax avoidance and firm-specific stock price crash…
Abstract
Purpose
The purpose of this paper is to examine whether the quality of management can mitigate the positive association between corporate tax avoidance and firm-specific stock price crash risk (SPCR).
Design/methodology/approach
The study is based on data from the Center for Research in Security Prices (CRSP), Compustat and ExecuComp and focuses on US-listed firms from 1980 to 2016. The authors employ ordinary least squares (OLS) regression as the baseline methodology and use five measures of tax avoidance and three measures of SPCR. Propensity score matching (PSM) and two-stage least squares methodologies are employed to address endogeneity concerns.
Findings
The authors find that more able managers weaken the positive relationship between tax avoidance and SPCR. The results suggest that the benefits of efficient tax management are more likely in firms with a more able management team as the likelihood of SPCR due to tax avoidance practices is reduced in such firms.
Practical implications
This study has important practical implications for investors who are concerned about firms that engage in tax planning activities that can reduce corporate taxes, but at the same time increase the SPCR. Considering the compelling arguments and the “dark” side of more able managers who may engage in opportunistic behaviour, the study provides useful evidence in support of more able managers.
Originality/value
This paper contributes to the SPCR literature by examining the effect of managerial ability on the likelihood of tax avoidance causing SPCR. Able managers are likely to lower the risk faced by investors and are less likely to extract rent and manipulate information. Therefore, the findings of this study have implications for investors by informing them of the negative value implications of tax avoidance and how they can be mitigated by hiring more able managers.
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Haijie Huang, Changjiang Lyu and Xiaowen Zhu
The purpose of this paper is to study the effect of second generation involvement on corporate innovation in Chinese family firms.
Abstract
Purpose
The purpose of this paper is to study the effect of second generation involvement on corporate innovation in Chinese family firms.
Design/methodology/approach
Based on the manually collected sample of listed Chinese family firms from 2003 to 2014, the study empirically examines the impact of second generation involvement on corporate innovation. The authors apply a difference-in-differences research design and a Heckman two-stage least squares regression to relieve the endogeneity concerns.
Findings
The research finds a positive relationship between second generation involvement and corporate innovation. This effect is more pronounced among the firms appointing second generation family members with overseas training experience and firms with weak external monitoring. Further analysis shows that the curtailment of related party transactions and the improvement of accounting information quality are important channels.
Practical implications
The findings provide several practical implications for Chinese family firms to survive the succession process and maintain competitive advantages across generations.
Originality/value
First, this study is helpful to understand the strategies adopted by family firms to maintain their long-term competitiveness and pursue continuing growth across generations. Second, the findings are also consistent with the transfer cost hypothesis of Fan et al. (2012) and Bennedsen et al. (2015). Finally, the findings imply that second generation involvement has a substitutive effect for external monitoring mechanisms.
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Zhiqiang Xie, Lei Wang, Zhengyang Zhu, Zhi Fu and Xingdong Lv
The purpose of this paper is to introduce an interval finite element method (IFEM) to simulate the temperature field of mass concrete under multiple influence uncertainties e.g…
Abstract
Purpose
The purpose of this paper is to introduce an interval finite element method (IFEM) to simulate the temperature field of mass concrete under multiple influence uncertainties e.g. environmental temperature, material properties, pouring construction and pipe cooling.
Design/methodology/approach
Uncertainties of the significant factors such as the ambient temperature, the adiabatic temperature rise, the placing temperature and the pipe cooling are comprehensively studied and represented as the interval numbers. Then, an IFEM equation is derived and a method for obtaining interval results based on monotonicity is also presented. To verify the proposed method, a non-adiabatic temperature rise test was carried out and subsequently simulated with the method. An excellent agreement is achieved between the simulation results and the monitoring data.
Findings
An IFEM method is proposed and a non-adiabatic temperature rise test is simulated to verify the method. The interval results are discussed and compared with monitoring data. The proposed method is found to be feasible and effective.
Originality/value
Compared with the traditional finite element methods, the proposed method taking the uncertainty of various factors into account and it will be helpful for engineers to gain a better understanding of the real condition.
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