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As cross-cultural mergers and acquisitions (M&A) have learning effects on organisations, assessing their impacts on corporate performance is crucial. This study aims to explore the impact of inter-firm cultural differences on long-term post-M&A stock market performance.

The authors select domestic M&A transactions of Chinese listed companies during 2010–2021 as the sample. Then, the authors use the partial least squares structural equation model (PLS-SEM) to construct the latent variable of cultural differences in four dimensions to explore long-term stock market performance.

Cultural differences first positively and then negatively impact post-M&A performance. Three transmissions mechanisms are identified: investor sentiment, takeover premiums and information disclosure quality. Further analysis reveals that acquirer stock performance improves with higher analyst coverage and non-local shareholders but worsens if there are business affiliations between the acquirer and target firms.

This study can help optimise information disclosure systems in M&A transactions for regulatory authorities and aid investors’ understanding of post-M&A performance changes. Furthermore, it can improve acquirers’ understanding of the risks and opportunities in cross-cultural M&A, thereby facilitating the adaptation of management practices to the im-pacts of cultural differences.

By integrating the theories of resource dependence and transaction costs, this study examines the reversal effect of cultural differences between merging companies on post-M&A performance. The authors use a PLS-SEM to empirically analyse the main effects and reveal three transmission mechanisms.

The purpose of this paper is to improve the dyeing effect of fast-growing fir wood dyed with reactive dyes.

In this study, five factors including temperature, the dosage of dye accelerator, dyeing time, the dosage of fixing agent and fixing time were investigated. Then, the color difference and light resistance of the wood surface after dyeing were used as the evaluation indicators; the best dyeing process under the two indicators was obtained through the range analysis. Finally, the two indicators were considered comprehensively, and the fuzzy comprehensive evaluation method was used to obtain the best dyeing process under the comprehensive indicators.

The results show that when the comprehensive index was used as the evaluation index, the optimal dyeing process for reactive red X-3B dyeing fast-growing fir veneer was that the dyeing temperature was 65°C; the amount of dye accelerator was 25 g L⁻¹; the dyeing time was 2 h; the amount of fixing agent was 15 g L⁻¹; and the fixing time was 35 min.

The technique of wood dyeing is an important method to increase the value of wood products. When using different kinds of dyes or dyeing substrates for wood dyeing, the dyeing process is different. This study determined the best process for reactive dye dyeing of fast-growing fir veneer and provided a solution for improving the value of fast-growing fir wood.

This paper aims to explore the promotion decisions of heterogeneous sellers on a decentralized platform under competitive conditions and analyze how seller behaviors impact platform profit, seller revenue, buyer surplus and social welfare.

This paper considers a Cournot model consisting of a platform charging a commission rate and two sellers with different conversion rates and browsing costs. Promotion efforts by sellers can increase traffic, but they also incur promotion costs for sellers. The sellers decide on promotion effort by weighing these two effects. The authors also explore the equilibrium when the platform charges a fixed usage fee.

The seller’s profit improves as its conversion rate increases and worsens as browsing costs increase. Also, increasing the commission rate charged by the platform makes the seller invest less in promotional efforts. Therefore, the platform must consider this trade-off to determine an optimal rate. The analysis shows that the seller with a high conversion rate and high browsing cost plays a greater role in generating more overall revenue. When the market favors such a seller, the platform tends to charge less in order not to impair its profitability.

This paper incorporates conversion rate, buyer’s browsing cost, unit promotion cost and the fee charged by the platform into the model to study sellers’ promotion decisions on decentralized platforms.

This paper aims to theoretically investigate a knowledge management model from the combined perspective of knowledge acquisition and knowledge application and its effect on organizational performance.

This study reviews prior research on knowledge acquisition and knowledge application, puts forward the concepts of “the extensiveness of knowledge acquisition” and “the concentration of knowledge application” and more importantly proposes an integrated model by combining these two dimensions. Four case examples of enterprises are subsequently described and analyzed to illustrate the sources of knowledge acquisition, the objects of knowledge application and their influences on organizational performance.

Four knowledge management modes and their impacts are confirmed in this study. Specifically, the organization of the turbojet engine mode (high extensiveness of knowledge acquisition and high concentration of knowledge application) can achieve good performance. The pipeline mode (high extensiveness of knowledge acquisition and low concentration of knowledge application) is the second, which has limited influence on good organizational performance. Organizations with the flashlight mode (low extensiveness of knowledge acquisition and high concentration of knowledge application) can achieve limited performance under the appropriate environment. The candle mode (low extensiveness of knowledge acquisition and low concentration of knowledge application) is the worst, performance of which is poor due to the break of the knowledge chain.

This paper holds that organizations should actively use the turbojet engine mode, adopt the pipeline mode and the flashlight mode cautiously, and avoid falling into the candle mode.

To the best of the authors’ knowledge, this study is among the first to propose the concepts of “the extensiveness of knowledge acquisition” and “the concentration of knowledge application,” and provides a combined model for analyzing differences in organizational performance from the perspective of knowledge.

Drawing on identity theory and the symbolic interactionism perspective of identity theory, this study aims to construct a moderated mediation framework to test the effects of perceived overqualification (POQ) on knowledge sharing (KS) through professional identity threat (PIT) and the moderating role of coworkers' help-seeking behavior (CHSB).

This paper uses a quantitative multistudy research design with a combination of a scenario experiment (Study 1) and a two-wave field study among 220 supervisor-subordinate dyads at a power company in China. Using analysis of variance, confirmatory factor analysis (CFA) and bootstrapping method, the authors validated the research hypothesis.

In the scenario experiment study (study 1), the authors find that POQ is positively related to PIT and that CHSB negatively moderates the positive impact of POQ on PIT. The field study (study 2) replicated the above findings and found that PIT mediates the negative effect of POQ on KS. In addition, CHSB negatively moderates the mediating role of PIT between POQ and KS.

First, the current study extended the nomological network of POQ research by examining its influence on employees' KS. Second, this study empirically investigated the mediating role of PIT, which provided a new explanatory mechanism for the influence of POQ. Finally, this study demonstrates the moderating role of CHSB—a situational factor that has been ignored in previous studies.

The main theme of this volume is credit risk and credit derivatives. Recent developments in financial markets show that appropriate modeling and quantification of credit risk is fundamental in the context of modern complex structured financial products. Moreover, there is a need for further developments in our understanding of this important area. In particular modeling defaults and their correlation has been a real challenge in recent years, and still is. This problem is even more relevant after the so-called subprime crisis that hit in the summer of 2007. This makes the volume very timely and hopefully useful for researchers in the area of credit risk and credit derivatives.

This paper aims to study the establishment of cooperative supply game model considering transportation hub location, and design the profit allocation rule of the cooperative supply coalition.

Based on the economic lost-sizing (ELS) game model and considering the location of transportation hub and the topology design of basic traffic network, we build a supply game model to maximize the profit of cooperative supply coalition. Based on the principle of proportion and the method of process allocation, we suppose the procedural proportional solution of the supplier cooperative supply game.

Through numerical examples, the validity and applicability of the proposed model and the procedural proportional solution were verified by comparing the procedural proportional solution with the weighted Shapley value, the equal division solution and the proportional rule.

This paper constructs a feasible mixed integer programming model for cooperative supply game. We also provide the algorithm of the allocation rule of cooperative supply game and the property analysis of the allocation rule.

The purpose of this paper is to investigate how, in China, postings on social media site Weibo reflect as well as accelerate the reshaping of traditional values. As Chinese social media extend their reach outside China, the displays of visible desire, hedonism and materialism could influence global consumption ethos.

Using interpretive content analysis, over 250 Weibo postings of 8 selected Weibo users, from the network of one of the authors, were identified, coded and interpreted. The users were selected based on their frequency, variety and expressiveness of postings.

Weibo is playing a critical role in transforming Chinese consumer values. Via Weibo, personal consumption experiences are available for public gaze. Consequently, desire for powerfully signified objects and experiences is more visible; “enjoy now” is turning out to be an appreciated life attitude, and materialism and hedonism are growing irresistibly. As a result, the traditional Chinese consumer values – suppressing desire, delaying gratification and thriftiness – are losing ground in Chinese society. Also, as Weibo makes the influence of the elite as well as electronic word-of-mouth very powerful, the values of the elite and grassroots groups are actually converging instead of being separated by substantial chasms that have existed historically.

Sina Weibo had a US initial public offering (IPO) of its stock in April, 2014, and many other China-based Internet firms were getting set for US IPOs. This paper provides unique insights for Chinese social media companies’ potential global impact. Future social media contexts would be shaped by collision as well as convergence of Asia-centric and USA-centric platforms. This paper lays the groundwork for studying such interactions.

In-depth interpretations of Weibo postings contribute to our understanding of how social media impact Chinese society now and would potentially affect global societies later. This is a pioneering study on the massive influences of social media on the macro-level consumer behavior.

Building on social media and destination brand-related literature, this study aims to explore World Heritage Sites’ (WHSs) brand diffusion and formation process from long-term and short-term perspectives, which includes brand diffusion, user-generated content (UGC), opinion leaders and brand events’ impact.

This study uses a mixed-method including text mining, keyword analysis and social network analysis to explore the brand formation process of four popular WHSs in Beijing, namely, the Palace Museum, Great Wall, Summer Palace and Temple of Heaven and more than 10,000,000 users’ data on Sina Weibo has been implemented to uncover the underlying social media branding mechanism.

The results show that the number of postings keeps in a stable range in most months, but, in general, there are no common rules for changing trends among the four WHSs; long-term high-frequency keywords related to history and culture account for a higher percentage; different kinds of accounts have varying impacts on information diffusion, in which media accounts lead to a bigger influence. However, more followers do not necessarily mean more interactions and most of the interaction ratio is much lower than 0.01000; brand events facilitate brand dissemination and have an impact on the creation of UGC.

This study is valuable for destination marketers to deeper understand brand diffusion and formation and provides valuable insights for developing effective destination marketing strategies.

Unlike previous studies that only concern a few parts of destination brand formation via social media (e.g. brand diffusion, brand events or opinion leaders’ impact), this study takes a more comprehensive perspective by systematically analyzing the brand formation process of WHSs on social media. By considering both long-term diffusion and short-term representative events, this study provides a more holistic understanding of the branding mechanism.