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Article
Publication date: 7 August 2017

Does mixed ownership improve the financial quality of Chinese listed companies?: A case study of SXNBM’s privatization process

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…

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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.

Details

Nankai Business Review International, vol. 8 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/NBRI-05-2016-0019
ISSN: 2040-8749

Keywords

  • China
  • Privatization
  • Financial quality
  • Mixed ownership
  • Sanxia

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Article
Publication date: 11 June 2020

Prediction model of three-parameter interval grey number based on kernel and double information domains

Ye Li, Sandang Guo and Juan Li

The purpose of this paper is to construct a prediction model of three-parameter interval grey number based on kernel and double information domains to expand the modeling…

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Abstract

Purpose

The purpose of this paper is to construct a prediction model of three-parameter interval grey number based on kernel and double information domains to expand the modeling object of grey prediction model from interval grey number to three-parameter interval grey number.

Design/methodology/approach

First, the study decomposes the grey valued interval into upper and lower cells with the “center of gravity” as the dividing point and defines the upper and lower information domains of the three-parameter interval grey number. Second, it calculates the kernel, the upper and lower information domains of the three-parameter interval grey number. Then, it constructs the prediction model for kernel sequence and upper and lower information domain sequences, respectively. By deducing the time response expressions of “center of gravity”, lower and upper limits of three-parameter interval grey number, a prediction model of three-parameter interval grey number based on kernel and double information domains is obtained.

Findings

This paper provides a prediction model of three-parameter interval grey number based on kernel and double information domains, and the example analysis shows that the method proposed in this paper has higher prediction accuracy and practicality.

Practical implications

In this paper, the modeling object of grey prediction model is extended to the three-parameter interval grey number, so it can be used for the prediction of uncertainty problems, such as stock changing trend, temperature and so on.

Originality/value

By decomposing the grey valued interval into upper and lower cells with the “center of gravity” as the dividing point, gives the definition of upper and lower information domains and then obtains a new method for whitening the three-parameter interval grey number.

Details

Grey Systems: Theory and Application, vol. 10 no. 4
Type: Research Article
DOI: https://doi.org/10.1108/GS-09-2019-0030
ISSN: 2043-9377

Keywords

  • Three-parameter interval grey number
  • Upper information domain
  • Lower Information domain
  • Kernel

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Article
Publication date: 16 October 2019

Study on unbiased interval grey number prediction model with new information priority

Ye Li and Juan Li

The purpose of this paper is to construct an unbiased interval grey number prediction model with new information priority for dealing with the jumping errors from…

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Abstract

Purpose

The purpose of this paper is to construct an unbiased interval grey number prediction model with new information priority for dealing with the jumping errors from difference equation to the differential equation in the prediction model of interval grey number.

Design/methodology/approach

First, this study obtains a set of linear equations about the model parameters by taking the minimum error sum of squares between the accumulative sequence and its simulation values as criterion, and solves them on the basis of the Crammer rule. Then, according to the new information priority principle, it selects the last number of the accumulated generation sequence as the initial value and gives the expression of the time response function by the recursive iteration method to establish the interval grey number prediction model.

Findings

This paper provides an unbiased interval grey number prediction model with new information priority, and the example analysis shows that the method proposed in this paper has higher prediction precision and practicality.

Research limitations/implications

If there is a better method to whiten the interval grey number, so as to fully tap the grey information contained in it, the accuracy of the model will be higher.

Practical implications

The model proposed in this paper can avoid the error caused by jumping from difference equation to differential equation and make full use of new information. It can be better used in a problem where new information has a great influence on prediction results.

Originality/value

This paper selects the last number of the accumulated generation sequence as the initial value and gives the expression of the time response function by the recursive iteration method. Then, it constructs an unbiased interval grey number prediction model with new information priority.

Details

Grey Systems: Theory and Application, vol. 10 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/GS-06-2019-0018
ISSN: 2043-9377

Keywords

  • Interval grey number
  • New information priority
  • Recursive iteration solution
  • Unbiased prediction

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Article
Publication date: 8 August 2016

Video games in classrooms: an interview with Zack Gilbert

Juan Li

This article aims to better understand game-based learning teaching practices through an interview with Zack Gilbert, a 6th grade teacher who is incorporating video games…

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Abstract

Purpose

This article aims to better understand game-based learning teaching practices through an interview with Zack Gilbert, a 6th grade teacher who is incorporating video games Civilization IV (Civ) and Minecraft into his social studies classroom.

Design/methodology/approach

This article is based on an interview with Zack Gilbert, regarding his practices and ideas toward using video games to facilitate learning.

Findings

In this interview, he shared his journey exploring teaching practices and experiences applying Civ and Minecraft to social studies class, which may serve as an example for other teachers.

Originality/value

The pioneering and successful experiences of Zack Gilbert may offer an example or insights for other teachers who intend to incorporate video games into their classrooms.

Details

On the Horizon, vol. 24 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/OTH-03-2016-0009
ISSN: 1074-8121

Keywords

  • Game-based learning
  • Social studies
  • Video games in classrooms

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Article
Publication date: 3 May 2016

Micro drilling quality of the Cu/BT laminate for IC substrate

Shan Li, Li Juan Zheng, Cheng Yong Wang, Bing Miao Liao and Lianyu Fu

In an integrated circuit (IC) substrate, more fillers, including talcum powder and aluminium hydroxide, are added, which leads to much higher rigidity and hardness…

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Abstract

Purpose

In an integrated circuit (IC) substrate, more fillers, including talcum powder and aluminium hydroxide, are added, which leads to much higher rigidity and hardness compared with a traditional printed circuit board. However, the micro drilling of IC substrates is harder. This paper aims to test the drilling process of IC substrates to improve the drilling process and the micro hole quality.

Design/methodology/approach

Substrate drilling by a micro drill with 0.11-mm diameter was used under several drilling conditions. The influence of drilling conditions on the drilling process was observed. Drilling forces, drill wear and micro hole quality were also studied.

Findings

The deformation circle around holes, hole location accuracy, bugle hole and burrs were the major defects of micro holes that were observed during the drilling of the substrate. Reducing the drilling force and drill wear was the effective way to improve hole quality.

Originality/value

The technology and manufacturing of IC substrates has been little investigated. Research data on drilling IC substrates is lacking. The micro hole quality directly affects the reliability of IC substrates. Thus, improving the drilling technology of IC substrates is very important.

Details

Circuit World, vol. 42 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/CW-03-2015-0006
ISSN: 0305-6120

Keywords

  • Drilling forces
  • Drills wear
  • Micro hole quality
  • The Cu/BT laminate for IC substrate

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Article
Publication date: 29 June 2020

Research on the virtual reality technology of a pipeline welding robot

Yu Luo, Zewei Fang, Juzhi Guo, Hao Lu and Juan Li

This paper aims to improve the scene sense of a virtual scene, the welding model of a virtual reality system of riser automatic equipment was constructed using Unity3D and…

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Abstract

Purpose

This paper aims to improve the scene sense of a virtual scene, the welding model of a virtual reality system of riser automatic equipment was constructed using Unity3D and UG software, which mainly included a welding car, welding guide rail, welding power supply, virtual camera and other equipment and the model was rendered.

Design/methodology/approach

The human-computer interaction page and simulation test of the system was produced using the user interface GUI system for creating a human-computer interaction scene. The operator could capture the welding status of the physical equipment accurately and in real-time so the virtual reality technology was very suitable for the remote monitoring operation integrated with the welding system.

Findings

Human-computer interaction design and collision detection were realized. In addition, the system simulation experiment was accomplished. With the continuous improvement and development of virtual reality technology real-time virtual simulation and monitoring, technology will become the main development trend.

Research limitations/implications

Based on virtual reality, the monitoring system can capture the operation status of physical welding equipment in real-time and accurately, which is very suitable for remote monitoring operation integrated with the welding system and also conducive to improving the monitoring level of the welding process.

Practical implications

This technology is time-saving and money-saving, for the operators do not have to be in a real welding environment and therefore they can get away from dangerous places. Consequently, it can avoid unnecessary injuries and problems.

Social implications

This technology can replace people to enter the dangerous and extreme environment to carry out welding operation, so it becomes the most effective means of nuclear power plant maintenance, space structure construction and marine engineering construction. In addition, it is time-saving and money-saving.

Originality/value

With the rapid development of virtual reality technology in recent years, it is a new research direction to apply virtual reality technology to the remote welding operation. This technology is different from the traditional way of welding for the operators can stay away from the welding scene especially some dangerous places.

Details

Industrial Robot: the international journal of robotics research and application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
DOI: https://doi.org/10.1108/IR-04-2020-0074
ISSN: 0143-991X

Keywords

  • Virtual reality
  • Human-computer interaction
  • Unity3D
  • Remote welding

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Article
Publication date: 3 June 2019

The underlying mechanism of corporate governance in China

Caiyu Yan, Hongqu He, Juan Li, Shuang Cheng and Yanjun Zhang

This paper aims to propose a strategy to analyze management governance in China.

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Abstract

Purpose

This paper aims to propose a strategy to analyze management governance in China.

Design/methodology/approach

This paper incorporates data on 989 Chinese listed firms over 2006 to 2016. A fixed effects model with panel data and an F-test are applied to exploit the relationship between management ownership and firm performance. A threshold model is introduced to explore the impacts of other governance mechanisms on management governance.

Findings

This paper finds an inverted U-shaped relationship between management ownership and firm performance. Furthermore, the threshold model demonstrates that large shareholders strengthen the positive effects of management governance and attenuate its negative effects; board size strengthens the positive effects of management governance but cannot attenuate its negative effects; and independent directors attenuate the negative effects of management governance.

Practical implications

This paper indicates that increasing management ownership could motivate managers to ameliorate the agent’s moral hazard problem which link the firm value premium when management ownership is less than 20.286 per cent. However, equity incentives are very rare in China. Thus, the authors expect that equity incentives will be a common phenomenon in Chinese listed firms.

Originality/value

This paper contributes to corporate governance literature by shedding some light on management ownership to explore the effects of management ownership. Specifically, this paper explores the effects of management ownership on firm performance and the impacts of other governance mechanisms on management governance to shape the management governance in China.

Details

Chinese Management Studies, vol. 13 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/CMS-10-2016-0202
ISSN: 1750-614X

Keywords

  • China
  • F-test
  • Management ownership
  • Threshold model

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Article
Publication date: 8 July 2019

Effects of inhomogeneity on rolling contact fatigue life in elastohydrodynamically lubricated point contacts

Yuyan Zhang, Xiaoliang Yan, Xiaoqing Zhang, Juan Li and Fengna Cheng

This paper aims to investigate the effects of inhomogeneities on the rolling contact fatigue (RCF) life in elastohydrodynamically lubricated (EHL) point contacts.

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Abstract

Purpose

This paper aims to investigate the effects of inhomogeneities on the rolling contact fatigue (RCF) life in elastohydrodynamically lubricated (EHL) point contacts.

Design/methodology/approach

A numerical model for predicting the RCF life of inhomogeneous materials in EHL contacts was established by combining the EHL model and the inclusion model through the eigen-displacement and then connecting to the RCF life model through the subsurface stresses. Effects of the type, size, location and orientation of a single inhomogeneity and the distribution of multiple inhomogeneities on the RCF life were investigated.

Findings

The RCF life of a half-space containing manganese sulfide (MnS) inhomogeneity or the mixed inhomogeneity of aluminium oxide (Al2O3) and calcium oxide (CaO) was longer than that for the case of Al2O3 inhomogeneity. For a single ellipsoidal MnS inhomogeneity, increases of its semi-axis length and decreases of its horizontal distance between the inhomogeneity and the contact center shortened the RCF life. Furthermore, the relationship between the depth of a single MnS inhomogeneity and the RCF life was found. For the half-space containing multiple inhomogeneitites, the RCF life decreased remarkably compared with the homogeneous half-space and showed discreteness.

Originality/value

This paper implements the prediction of the RCF life of inhomogeneous materials under EHL condition.

Details

Industrial Lubrication and Tribology, vol. 71 no. 5
Type: Research Article
DOI: https://doi.org/10.1108/ILT-01-2019-0029
ISSN: 0036-8792

Keywords

  • Point contact
  • Inhomogeneity
  • EHL
  • RCF life

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Article
Publication date: 16 July 2020

Alliance justice and relational performance: the mediating role of boundary spanners' citizenship behaviors

Xuan Bai and Julie Juan Li

The purpose of this paper is to examine the types of justice that affect knowledge acquisition and opportunism in strategic alliances and how these justice mechanisms function.

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Abstract

Purpose

The purpose of this paper is to examine the types of justice that affect knowledge acquisition and opportunism in strategic alliances and how these justice mechanisms function.

Design/methodology/approach

Data were collected from both top-level and operating-level boundary spanners in 295 strategic alliances in China (a total of 590 boundary spanners). A structural equation model (SEM) with bias-corrected bootstrap method was used to test the hypotheses.

Findings

The results show that although both procedural justice and distributive justice are important in deterring opportunism, procedural justice is more effective at enhancing knowledge acquisition than distributive justice is. The results also demonstrate that boundary spanners' helping behaviors are more effective at fostering knowledge acquisition, whereas boundary spanners' voice behaviors have more impact on mitigating opportunism. In addition, boundary spanners' citizenship behaviors partially mediate the relationship between justice and interfirm-level performance.

Originality/value

This study adds a boundary-spanning lens to justice literature by uncovering the missing link between justice and alliance outcomes.

Details

Management Decision, vol. 59 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/MD-04-2019-0523
ISSN: 0025-1747

Keywords

  • Boundary spanners
  • Citizenship behaviors
  • Distributive justice
  • Knowledge acquisition
  • Opportunism
  • Procedural justice

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Article
Publication date: 1 August 2016

A grounded theory study on leader authority formation process in China

Xiao-feng Zhang, Xiao-juan Zhang, Lei Li, Gui-quan Li and You-min Xi

This study aims to focus on the authority formation process of Chinese enterprise leaders, with the purpose of finding out how an ordinary newly established firm leader…

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Abstract

Purpose

This study aims to focus on the authority formation process of Chinese enterprise leaders, with the purpose of finding out how an ordinary newly established firm leader develops into a real top leader and achieves the status of legitimacy in a well-known enterprise.

Design/methodology/approach

Based on constructivist grounded theory, this paper investigates the formation mechanism of entrepreneurial authority in China by using the rich data of Liu Chuan-zhi’s leader activities.

Findings

In the “evolution” path of authority formation, leaders continually consolidate and improve their authority through two classes of exceptional management activities: “emergency rescue” and “promotion activities”. The successful realization of exceptional management activities benefits from a leader’s management experience accumulation and relationship maintenance with the government. In the “design” path of authority formation, leaders consolidate and improve their authority by exercising their position of power. Leaders’ legitimacy is reflected by making strategic decision and demonstrating discretion of position power. Additionally, passing on an inspiring leader’s thoughts and ideas to an organization’s members is accomplished through the construction of organization culture, institutionalization and convention.

Research limitations/implications

First, the findings are based on only Liu Chuan-zhi’s case. The authors still need more cases to compare and develop the findings and seek theoretical saturation in a broader sense. Second, the qualitative analysis is based on secondary data and future research could consider the introduction of interviews, video and other types of research data.

Originality/value

Under the parallel paths which are “evolution” and “design”, the dynamic leader authority formation model in China is founded.

Details

Nankai Business Review International, vol. 7 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/NBRI-03-2016-0011
ISSN: 2040-8749

Keywords

  • Evolution
  • Design
  • Constructivist grounded theory
  • Formation mechanism
  • Leadership authority

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