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A stochastic, multi‐period simulation model is developed based on the prevalent capital structure theories, in searching for and identifying an optimal combination of related financing strategies. The model reflects both conceptual and empirical implications of the pecking order, trade‐off and signalling theories on farm business financing, investment, and expansion process. The comparisons of simulation output indicate that farm businesses could expand at a moderate speed accompanied by financial health when they concurrently adopt these financing tactics. Pecking order financing benefits short‐term financial management, trade‐off strategy effectively adjust farm capital structure, and the signaling theory enables the adoption of risk‐adjusted interest rate policies between the farm borrower and the lender.

The purpose of this paper is to evaluate the effects of access to formal credit on rural household technical efficiency in China.

Based on the rural household survey data in Weifang city, Shandong province in northern China, the authors apply recent developed bootstrapped DEA approach to investigate rural technical efficiency at the household level under the consideration of off-farm activities. Rural households are then identified as credit constrained and classified as supply-side and demand-side credit constraints by applying direct elicitation method. Finally, the authors apply a tobit regression to examine the effects of credit constraints on household technical efficiency.

Rural households in China not only suffer supply-side credit constraints, but also demand-side credit constraints resulted from the transaction costs and risk rationing. The tobit regression discloses that demand-side credit constraints impose significant negative impacts on household technical efficiency.

The authors clarify the definition of credit constraints and classify the credit constraints into supply-side and demand-side credit constraints. The results of this paper have significant policy implications for rural finance policies in China.

As an important part of the disclosure of listed companies' annual reports, MD&A will disclose some "bad news" about the company. The purpose of this paper is to study whether such "bad news" can reduce information asymmetry and alleviate the risk of stock price crash remains to be seen.

Based on the sample of A-share listed companies from 2007 to 2016, the authors examine whether the negative information in MD&A could reduce stock price crash risk.

It is found that the negative information in MD&A does not reduce future crash, which indicates that the negative information in MD&A does not alleviate the information asymmetry. Further, it is also found this is due to the low readability of negative information which leads to the negative information not successfully released into the market timely. Only highly readable negative information can alleviate information asymmetry and suppress crash risk. In addition, the authors also find in the companies with more investor surveys negative tone is negatively correlated with crash risk, which means that investor surveys could help investors interpret the negative information in MD&A and alleviate stock price crash risk.

The practical significance of this article: this paper suggests that investors should carefully identify the quality of negative information in MD&A and pay attention to other quality characteristics besides credibility. This paper suggests that the regulator should pay attention not only to whether to disclose and the amount of disclosure but also to the quality of information disclosure, such as readability, so as to restrict management's strategic behavior in information disclosure.

First, different from previous studies on the impact of information disclosure on crash risk, this paper directly explores the impact of information in MD&A on stock price crash risk from the perspective of negative information disclosure that management most want to hide. It supplements the literature on the impact of information disclosure on stock price crash risk. Second, this paper studies the interaction between information tone and readability and its impact on the risk of stock price crash. Some studies believe that the credibility of negative news is higher and investors' reaction may be stronger. However, this paper finds that the disclosure of negative information may not be absorbed by the market because of the low readability. Third, this paper finds that investor surveys can help information users to interpret negative information and alleviate the risk of stock price crash, which shows that information disclosure of different channels will complement each other and improve information efficiency. Therefore, it advocates different information disclosure channels which has important practical significance for improving market pricing efficiency and reducing investment decision-making risk.

The purpose of this paper is to study the influence of pivot stiffness on the dynamic characteristics of tilting-pad journal bearings (TPJBs) and the stability of the bearing-rotor system.

A theoretical numerical model is established, and the influences of pivot stiffness on TPJBs and a bearing-rotor system are analyzed. Then, two kinds of pivot structures with different stiffness are designed and the vibration characteristics are tested on the vertical rotor bearing test bench.

The pivot stiffness has an obvious effect on the dynamic characteristics of the TPJBs and the stability of the bearing-rotor system. As a result of appropriate pivot stiffness, the critical speed and the vibration amplification factor can be reduced, the logarithmic decay rate and the stability of the rotor system can be effectively increased. While the journal whirl orbit is smoother and the rubbing is obviously reduced when the bearings have flexible pivots.

The influence of pivot stiffness on TPJBs and a vertical rotor-bearing system is studied by theoretical and experimental methods.

The purpose of the study is threefold: first, to identify what factors influence mobile users' willingness of news learning and sharing, second, to find out whether users' learning in the news platforms will affect their sharing behavior and third, to access the impact of sharing intention on actual sharing behavior on the mobile platform.

This study proposes an influence mechanism model for examining the relationship among the factors, news learning and news sharing. The proposed mechanism includes factors at three levels: personal, interpersonal and social level. To achieve this, researchers collected data from 474 mobile news users in China to test the hypotheses. The tools SPSS 26.0 and AMOS 23.0 were used to analysis the reliability, validity, model fits and structural equation modeling (SEM), respectively.

The findings indicate that news learning on the mobile platforms is affected by self-efficacy and self-enhancement. And news sharing intention is influenced by self-efficacy, interpersonal trust, interpersonal reciprocity, online community identity and social norms positively. News sharing intention has a significant effect on news sharing behavior, but news learning has an insignificant relationship with new sharing.

This study provides practical guidelines for mobile platform operators and news media managers by explicating the various factors of users' engagement on the news platforms. This paper also enriches the literature of news learning and news sharing on mobile by the integration of two theories: the social ecology theory and the interpersonal behavior theory.

The purpose of this paper is to investigate the strategy used by German Mittelstand companies to achieve a profitable business in China. It explores how those firms seek to reduce their risk of entry into this market.

Survey data were gathered over the phone from individuals in the companies who were identified as knowledgeable contacts. Their responses were then analyzed using descriptive statistics and structural equation modeling.

German Mittelstand firms that hire Chinese nationals in China obtain market knowledge and a higher return on investment than others. German managers’ efforts to understand the Chinese cultural norms increased the firm’s unwillingness to share information with others. This was probably because their concern about protecting their competitive secrets increased, so they shared less information with suppliers, which decreased their return on investment.

First, the small sample size limited the analysis. Second, there was low inter-rater reliability on multiple items, so these responses could not be analyzed. There is a need to further validate the survey, and obtain a larger sample to analyze alternative models.

This suggests to the practitioner that while it may be relatively easy to start a manufacturing business in China, it requires great effort to manage their risk of losing corporate secrets to their competitors in China.

This paper provides a unique set of data from practicing managers about the risks and gains from doing business in China. This data can be of use to both researchers and to practitioners and it provides a foundation to examine how the risk of losing proprietary knowledge to Chinese competitors affects business.

The aim of the article was to focus on various peptides identified in the egg and their probable application as novel ingredients in the development of functional food products. Bioactive peptides of egg origin have attracted increasing interest as one of the prominent candidates for development of various health-promoting functional and designer foods.

Traditionally known as a source of highly valuable proteins in human nutrition, eggs are nowadays also considered as an important source of many bioactive peptides which may find wide application in medicine and food production. These specific protein fragments from egg proteins which, above and beyond their nutritional capabilities, have a positive impact on the body’s function or condition by affecting the digestive, endocrine, cardiovascular, immune and nervous systems, and may ultimately influence health.

Several peptides that are released in vitro or in vivo from egg proteins have been attributed to different health effects, including antihypertensive effects, antimicrobial properties, antioxidant activities, anticancer activity, immunomodulating activity, antiadhesive properties and enhancement of nutrient absorption and/or bioavailability. Extensive research has been undertaken to identify and characterize these biologically active peptides of egg origin which has changed the image of egg as a new source of biologically active ingredients for the development of functional foods with specific benefits for human health and treatment and prevention of diseases.

The paper mainly describes the above-stated properties of bioactive peptides derived from egg proteins.

This paper aim to take the ship shaft stern bearing as the research object, and studies the influence of journal axial vibration on bearing dynamic characteristics under different misaligned angles and rotation speeds.

Computational fluid dynamics (CFD) and harmonic excitation method were used to build bearing unstable lubrication model, and the dynamic mesh technology was used in calculation.

The results indicate that journal axial vibration has a significant effect on bearing dynamic characteristics, like maximum oil film pressure, bearing stiffness and damping coefficients, and the effect is positively correlated with journal misaligned angle. The effect of shaft rotation speed and journal axial vibration on bearing dynamics characteristics are independent; they have no coupling. Bearing axial stiffness is mainly affected by the journal axial displacement, bearing axial damping is mainly affected by journal axial velocity and they are positively correlated with the misaligned angle. The influence of rotational speed on bearing axial stiffness and axial damping is not obvious.

This paper establishes the bearing dynamic model by CFD and harmonic excitation method with consideration of cavitation effect and analyzing the influence of journal axial vibration on the dynamic characteristics. The results are benefit to the design of ship propulsion shaft and the selection of stern bearing. Also, they are of great significance to improve the operation stability of the shaft bearing system and the vitality of the ship.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-11-2022-0337/

Theory is needed for a discipline to mature. This research aims to provide a summary analysis of the theories being used in contemporary logistics and supply chain management (SCM) studies.

A comprehensive literature review of articles appearing in five top tier logistics and SCM journals is conducted in order to identify how often theory is used and to classify the specific theories used. An analysis of the theoretical categories is presented to explain the type and frequency of theory usage.

Over 180 specific theories were found within the sampled articles. Theories grouped under the competitive and microeconomics categories made up over 40 per cent of the theoretical incidences. This does not imply all articles utilize theory. The research found that theory was explicitly used in approximately 53 per cent of the sampled articles.

Two implications are central. First, in the minds of editors, reviewers and authors is approximately 53 per cent theory use enough? Literature suggests there continues to be a need for theory‐based research in the discipline. A first step may be to increase our theory use, and to clearly describe the theory being used. Second, the vast majority of theories used in recent logistics and SCM research originated in other disciplines. Growth in the discipline dictates the need for greater internal theory development.

Despite multiple calls for the use of theory in logistics and SCM, little formal research has been produced examining the actual theories being used. This research provides an in‐depth review and analysis of the use of theory in logistics and SCM research during the period 2004‐2009.

Following Cheng et al. (2012) and Tan et al. (2015), this paper aims to investigate how does the forward-looking information disclosure quality affect the investors’ decisions and then the investment efficiency.

The authors obtain the information disclosure quality rating data from the official website of the Shenzhen Stock Exchange (SZSE), and firm financial information is mainly from the China Center for Economic Research (CCER) and China Stock Market and Accounting Research Database (CSMAR). The authors choose firms that publicly traded on the SZSE during the period from 2004 to 2010, and the final sample consists of 2,415 firm-year observations for 345 unique firms.

The authors find that a firm with a high information disclosure quality rating is trusted by investors more. Forward-looking non-financial information (FNFI) disclosure alleviates financial constraints and improves investment efficiency, including alleviating underinvestment and preventing overinvestment to a larger extent for firms with high information disclosure quality rating, especially for the firms rated A (excellent) or B (good) every year since 2001, when the rating began. Moreover, this study proves that investors trust the firms rated high more but do not guard against the firms rated low enough.

The authors only considered the quantity of FNFI disclosed by firms and ignored other characteristics of FNFI. Limited by the data of information disclosure quality rating, the research sample is just from the SZSE.

This paper extends the research of Cheng et al. (2012) and Tan et al. (2015) to show that one of the reasons behind the extant mix results of the relationship between FNF disclosure and investment efficiency is different information disclosure quality. High-quality FNFI disclosure can alleviate underinvestment and prevent overinvestment at same time.