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This study aims to investigate the relationship between corporate social responsibility (CSR) and financial distress and the moderating effect of firm characteristics, auditor characteristics and the Coronavirus disease 2019 (Covid-19) in China.

The research question is empirically examined on the basis of a data set of 1,257 Chinese-listed firms from 2011 to 2021. The dependent variable is financial distress risk, which is measured mainly by Z-score. CSR score is used as a proxy for CSR. Propensity score matching, two-stage least square and generalized method of moments are adopted to mitigate the potential endogeneity issue.

This study reveals that CSR can reduce financial distress. Specifically, results show an inverse relationship between CSR and financial distress, more significantly in non-state-owned enterprises, firms with non-BigN auditor and during Covid-19. The results are consistent and robust to endogeneity tests and sensitivity analyses.

This study enriches the literature on CSR and financial distress, resulting in a more attractive corporate environment, improved financial stability and more crisis-resistant economies in China.

This study aims to explore how earnings management techniques are affected by corporate financial debt risk (FDR), internal control (IC) effectiveness and CEO education.

The study uses a sample from listed firms in China from 2010 to 2017, comprising different industries, including agriculture, forestry, livestock farming and fishing; mining; manufacturing; electric power, gas and water production and supply; construction; transport and storage; information technology; the real estate industry; social services; and communication and cultural. The regression analysis is used to test the hypotheses. The two-stage least squares technique is used to check for endogeneity issues.

The study finds that firms are less likely to manage real earnings when they have more robust IC and FDR. Likewise, companies with weak ICs are more likely to manipulate real earnings. Besides, the study finds an influence of CEO education on the relationship between IC, FDR and real earnings management (REM). These results can be applied to the sectors in the sample covered by the research, and the authors do not overlook the energy industry sector for the importance of its role in the economy.

There are some limitations for the researcher when performing any research, and this study is no exception. Researchers are urged to take these circumstances into consideration when generalizing or comparing the results because the methods used to calculate the measurement variables in each study may differ somewhat from those used in other research. In addition, expanding the current research design to incorporate additional nations may be an area of interest for future research and could aid in evaluating the effects of nation-specific elements (such as inflation, culture, legal systems and political considerations) on the usefulness of IC and decreasing FDR. Second, the current study focuses on the impact of IC and FDR on REM; this paper does not dissect the “black box” of IC and consider how each element affects earnings management. Future research may need to focus specifically on how effective IC would affect earnings management and precisely what IC mechanisms would discourage the management of earnings.

Helping companies listed in China to make decisions and improve investors’ vision of the results of real companies’ businesses, as well as helping management to avoid falling into debt risk and the consequent effects and manipulation of earnings.

By highlighting the significance of IC and debt risk in enhancing information quality in China, the results contribute to the body of work examining the relationship between IC, FDR and REM. In addition, this study uses a CEO’s education to moderate this link.

This study examines the moderating role of female directors on the relationship between the firms’ characteristics and tax avoidance in an emerging economy.

This study employs the second-generation unit root test and the generalised method of moments (GMM) techniques. The Kao residual cointegration test corroborates a long-run cointegration among variables.

Female directors demonstrate mixed and unusual findings. No significant impact of female directors on tax avoidance is found. In addition, the presence of female directors does not show any negative or significant moderating impacts on the relationship between leverage, firm age, board size and tax avoidance. However, having more female directors can negatively and significantly moderate the relationship between more profitable firms, larger firms and tax avoidance. These findings show that the board of directors could use the presence of female directors to maximise their opportunistic behaviour, such as to avoid tax.

Research limitations – The study is limited by considering only 62 listed firms. The scope could be extended to include non-listed firms.

Research implications – There is increasing pressure for female directors on boards from diverse stakeholders, such as the European Commission, national governments, politicians, employer lobby groups, shareholders, and Fortune and Financial Times Stock Exchange (FTSE) rankings. This study provides input to decision-makers putting gender quota laws into practice. Our findings can help policy-makers adopt regulatory reforms to control tax avoidance practices and enhance organisational legitimacy. Policymakers can change their policy to include female directors up to the threshold suggested by the critical mass theory.

This is the first attempt in Bangladesh to explore the role of female directors in the relationship between the firms' characteristics and tax avoidance. The current study has significant ramifications for bringing gender diversity into practice as a component of good corporate governance.

This study investigates the performance distribution of passive funds in the Korean market and compares it with the performance distribution of active funds. The key findings are as follows, first, the performance distribution of passive funds has a thicker tail compared to that of active funds. There are passive funds that achieve outstanding performance, and both the false discovery rate (FDR) analysis and simulation analysis suggest that their outperformance is driven by managerial skill rather than luck. Second, passive fund performance is more persistent compared to active fund performance. Third, investors are less responsive to passive fund performance compared to active fund performance. The fund flow-performance relationship is significantly positive for active funds but not for passive funds. This implies that investors may not recognize the managerial skills of passive funds.

Climate change significantly impacts global temperatures, posing challenges to various sectors, including aviation. The purpose of this study is to assess the impact of climate change on aircraft engine performance during different flight phases (take-off and cruise) and the environmental consequences.

This study examines the effects of rising temperatures on aircraft engine performance using real-time data from a Boeing 787-8 equipped with GEnx-1B engines, which are collected via Flight Data Recorder of the engines and were analyzed for the take-off and cruise phases on the ground. Exhaust gas temperature (EGT), fuel flow and take-off weights were evaluated.

The analysis revealed a significant increase in EGT at the cruising altitude of 38,000 ft during the summer months compared to expected standard atmospheric values. This increase, averaging over 200 °C, is attributed to global warming. Such elevated temperatures are likely to accelerate the degradation of turbine components, resulting in increased fuel consumption: higher EGT signifies inefficient engine operation, resulting in more fuel burned per unit thrust; early engine aging: elevated temperatures accelerate wear and tear on turbine components, potentially reducing engine lifespan and increasing maintenance costs and enhanced atmospheric pollution: incomplete combustion at high EGTs generates additional emissions, contributing to local air quality concerns.

The research findings have practical implications for understanding the potential operational challenges and environmental impacts of climate change on aircraft engine performance. This lets us explore mitigation strategies and adapt operational procedures to ensure sustainable regional aviation practices.

This research enhances environmental consequences by assessing the impact of climate change on aircraft performance.

This study explores the spatial and temporal relationship between tourism activities and transportation-related carbon dioxide (CO₂) emissions in the United States (US) from 2003 to 2022 using advanced geospatial modeling techniques.

The research integrated geographic information systems (GIS) to map tourist attractions against high-resolution annual emissions data. The analysis covered 3,108 US counties, focusing on county-level attraction densities and annual on-road CO₂ emission patterns. Advanced spatial analysis techniques, including bivariate mapping and local bivariate relationship testing, were employed to assess potential correlations.

The findings reveal limited evidence of significant associations between tourism activities and transportation-based CO₂ emissions around major urban centers, with decreases observed in Eastern states and the Midwest, particularly in non-coastal areas, from 2003 to 2022. Most counties (86.03%) show no statistically significant relationship between changes in tourism density and on-road CO₂ emissions. However, 1.90% of counties show a positive linear relationship, 2.64% a negative linear relationship, 0.29% a concave relationship, 1.61% a convex relationship and 7.63% a complex, undefined relationship. Despite this, the 110% national growth in tourism output and resource consumption from 2003–2022 raises potential sustainability concerns.

To tackle sustainability issues in tourism, policymakers and stakeholders can integrate emissions accounting, climate modeling and sustainability governance. Effective interventions are vital for balancing tourism demands with climate resilience efforts promoting social equity and environmental justice.

This study’s innovative application of geospatial modeling and comprehensive spatial analysis provides new insights into the complex relationship between tourism activities and CO₂ emissions. The research highlights the challenges in isolating tourism’s specific impacts on emissions and underscores the need for more granular geographic assessments or comprehensive emission inventories to fully understand tourism’s environmental footprint.

The purpose of this paper is to present a comparative study of flight circumstances, dynamic stability characteristics and controllability for two transport aircraft in severe atmospheric turbulence at transonic cruise flight for the purpose to obtain the prevention concepts of injuries to passengers and crew members for pilot training in International Air Transport Association (IATA) – Loss of Control In-flight (LOC-I) program.

A twin-jet and a four-jet transport aircraft encountering severe atmospheric turbulence are the study cases for this paper. The nonlinear unsteady aerodynamic models are established through flight data mining and the fuzzy-logic modeling technique based on the flight data of flight data recorder. This method can be adopted to examine the influence of horizontal wind shear and crosswind on loss of control, dynamic stability characteristics and controllability for transport aircraft in different weights and different sizes in tracking aviation safety of existing different types of aircraft.

The horizontal wind shear or crosswind before the turbulence encounter will easily induce rolling motion and then initiate the sudden plunging motion during the turbulence encounter. The roll rate will increase the oscillatory rolling motion during plunging motion, if the rolling damping is insufficient. The drop-off altitude will be enlarged by the oscillatory rolling motion during the sudden plunging motion.

A lack of the measurement data of vertical wind speed sensor on board to verify the estimated values of damping term is one of the research limitations for this study. The fact or condition of being severe in sudden plunging motion can be judged through the analysis of oscillatory derivatives with both dynamic stability and damping terms.

The roll rate will increase the oscillatory rolling motion during plunging motion, if the rolling damping is insufficient. The drop-off altitude will be enlarged by the oscillatory rolling motion during the sudden plunging motion. The horizontal wind shear or crosswind before the turbulence encounter will easily induce rolling motion and then initiated the sudden plunging motion during the turbulence encounter. If the drift angle is large, to turn off the autopilot of yaw control first and stabilize the rudder by the pedal. When passing through the atmosphere turbulence area, the pilots do not need to amend the heading angle urgently.

The flight safety prevention in avoidance of injuries for passengers and cabin crews is essential for the airlines. The horizontal wind shear or crosswind before the turbulence encounter will easily induce rolling motion and then initiated the sudden plunging motion during the turbulence encounter.

The flight safety prevention in avoidance of injuries for passengers and cabin crews is essential. The present assessment method is an innovation to examine the loss of control problems of aviation safety and promote the understanding of aerodynamic responses of the jet transport aircraft. It is expected to provide a valuable lecture for the international training courses for IATA – LOC-I program after this paper is being published.

This study examined Indian institutional investors' holding data to understand their investment strategy (Portfolio Concentration/Diversification) and explored whether their skills were associated with their portfolio strategy and performance. The study introduced a new proxy to identify skilled investors by forecasting abnormal returns. Moreover, the study also highlighted where skilled Indian investors put their money for long-term investment.

This study measures portfolio concentration based on the number of holdings, the Hirschman–Herfindahl index (HHI) and benchmarks adjusted industry concentration. The study introduced a new proxy to identify skilled investors. We measured Investors' performance with the help of Carhart's four factors model and examined the relationship between variables through various regression models.

The study concluded a negative relationship between portfolio concentration and performance. However, skilled Indian investors get rewards from portfolio concentration decisions. It was found that skilled investors with few stocks and an industry concentration in their portfolio show a positive association between concentration and fund performance. Additionally, this study found Indian investors showing their faith in the financial sector for long-term investment.

This study examined Indian institutional investors' portfolio concentration strategy and introduced a new proxy to measure investors' skills.