Search results

This study examines the effect of contextual perceived value activated by contextual marketing offers and information privacy concerns on consumer loyalty in mobile commerce.

The survey was conducted through 340 mobile users in Morocco and the collected data were analyzed using structural equation modeling.

This study's results show that contextual marketing and information privacy concerns are key determinants in improving customer loyalty in the m-commerce context. Perceived ubiquity has a positive impact on perceived trust, which also impacts consumer loyalty. Information privacy concerns also have a positive impact on customer satisfaction, yet it does not impact perceived trust, which is contrary to the results of other researchers. It can also be concluded that customer satisfaction and trust are important antecedents of consumer loyalty.

This research gives rise to some important managerial and strategic implications in order to integrate contextual marketing strategies, as well as theoretical implications that concern this field of study.

This research makes a significant contribution to knowledge by examining the role of contextual marketing and information privacy concerns in the m-commerce context. These results will be considered useful for marketers and for businesses in general who wish to integrate a marketing strategy that is based on a customer-centric approach. It also contributes to the related literature, as there are few studies focused on m-commerce and contextual marketing within the context of Morocco.

This study aims to take advantage of the unprecedented anti-corruption campaign launched in China in December 2012 and examine the effect of improved public governance on tunneling.

This study uses a sample of Shanghai and Shenzhen Stock Exchange listed companies from 2010 to 2014 and conduct regression analyses to investigate the effect of improved public governance attributed to the anti-corruption campaign on tunneling.

This study finds that the level of tunneling decreased significantly after the anti-corruption campaign, suggesting that increased public governance effectively curbs tunneling. Cross-sectional results show that this mitigating effect is more pronounced for non-SOE firms, especially non-SOE firms with political connections, firms audited by non-Big 8 auditors, firms with a large divergence between control rights and cash flow rights and firms located in areas with lower marketization.

This study highlights the importance of anti-corruption initiatives in improving public governance and in turn reducing tunneling. This study provides important implications for many other emerging economies to improve public governance.

This study contributes to the literature on the role of public governance in constraining corporate agency problems and advances the understanding of the economic consequences of China's anti-corruption campaign in the context of tunneling.

This paper aims to study the impacts of groundwater seepage on artificial freezing process of gravel strata, the temperature field characteristics of the strata, and the strata process, closure time and thickness evolution mechanism of the frozen wall.

In this paper several laboratory model tests were conducted, considering different groundwater seepage rate.

The results show that there is a significant coupling effect between the cold diffusion of artificial freezing pipes and groundwater seepage; when there is no seepage, temperature fields upstream and downstream of the gravel strata are symmetrically distributed, and the thickness of the frozen soil column/frozen wall is consistent during artificial freezing; groundwater seepage causes significant asymmetry in the temperature fields upstream and downstream of the gravel strata, and the greater the seepage rate, the more obvious the asymmetry; the frozen wall closure time increases linearly with the increase in the groundwater seepage rate, and specifically, the time length under seepage rate of 5.00 m d⁻¹ is 3.2 times longer than that under no seepage; due to the erosion from groundwater seepage, the thickness of the upstream frozen wall decreases linearly with the seepage velocity, while that of the downstream frozen wall increases linearly, resulting in a saddle-shaped frozen wall.

The research results are beneficial to the optimum design and risk control of artificial freezing process in gravel strata.

In confronting the challenge of climate change and progressing towards dual carbon goals, China is actively implementing low-carbon city pilot policy. This paper aims to focus on the potential impact of this policy on enterprise green governance, aiming to promote the reduction and balance of carbon emissions.

Based on the panel data of China's large-scale industrial enterprises from 2007 to 2013, this paper uses the Difference-in-differences (DID) method to study the impact and path mechanism of the implementation of low-carbon city pilot policy on enterprise green governance. Heterogeneity analysis is used to compare the effects of low-carbon city pilot policy in different regions, different enterprises and different industries.

The low-carbon pilot can indeed effectively enhance corporate green governance, a conclusion that still holds after a series of robustness tests. The low-carbon city pilot policy mainly enhances enterprise green governance through two paths: an industrial structure upgrade and enterprise energy consumption, and it improves green governance by reducing enterprise energy consumption through industrial structure upgrade. The impact of low-carbon city pilot policy on enterprise green governance shows significant differences across different regions, different enterprises and different industries.

This paper examines the impact of low-carbon city pilot policy on enterprise green governance. However, due to availability of data, there are still some limitations to be further tackled. The parallel trend test in this paper shows that the pilot policy has a significant positive effect on the green governance of enterprises. However, due to serious lack of data in some years, the authors only selected the enterprise data of a shorter period as our experimental data, which leads the results to still have certain deficiencies. For the verification of the impact mechanism, the conclusions obtained in this paper are relatively limited. Although all the mechanism tests are passed, the reliability of the results still needs to be further tested through future data samples. In addition, as the pilot policy of low-carbon cities is still in progress, the policy can be tracked and analysed in the future as more data are disclosed, and further research can be carried out through dimensional expansion.

Low-carbon city pilot policy plays an important role in inducing the green governance of enterprises. Therefore, policy makers can continue to strengthen the construction of low-carbon city pilots by refining pilot experience, building typical cases, actively promoting pilot policy experience, expanding pilot scope and enhancing the implementation efficiency of pilot policy nationwide, which will contribute to the optimization and upgrading of the regional industrial structure at the urban level and will provide experience and reference for the synergistic implementation plan of pollution reduction and carbon reduction.

The impact of the low-carbon city pilot policy on enterprise green governance not only exists in two separate paths of urban industrial upgrading and enterprise energy consumption but also exists in a chain transmission path from macro to micro. The authors find that the effect value of each influence path is different, and there is an obvious leading influence path for the role of enterprise green governance. Therefore, in the process of implementing a low-carbon city pilot policy, policies should be designed specifically for different mechanisms. Moreover, complementing and coordinating several paths should be advocated to give full play to the green governance effect of enterprises brought by different paths and to further expand the scope of industries and enterprises where policies play a role.

To the best of the authors’ knowledge, for the first time, this paper connects macro mechanisms with micro mechanisms, discovering a macro-to-micro transmission mechanism in the process of low-carbon city pilot policy affecting enterprise green governance. That is, the low-carbon city pilot policy can facilitate industrial structure upgrading, resulting in reduced enterprise energy consumption, ultimately enhancing enterprise green governance.

Tourism may have important positive and negative economic, socio-cultural and environmental impacts. However, cultural and natural resources are also the base to the development of competitive destinations and changes in these resources can have an important impact on tourism development. Despite the considerable literature regarding the impacts of tourism, a limited number of studies examine the impact of the environment on tourism, specifically the impact of air quality (AQ). Therefore, this paper aims to review what is known about the impact of AQ on tourism demand, analysing the different methods and approaches used, as well as the results obtained.

A systematic literature review method was used to examine the state of the art in this topic and identify research gaps and new research directions. Only 26 papers were identified that examine the impact of AQ on tourism demand.

The majority of the studies were carried out in China and investigate the impact of AQ on tourism from the perspective of tourism demand. Both global (tourism demand) and individual (tourist perceptions) approaches have been used to investigate the impact of AQ on tourism.

This is the first systematic literature review on the impact of outdoor AQ on tourism demand. Moreover, this paper analyses the methods and approaches that have been used in the literature to examine the impact of outdoor AQ on tourism demand. The paper ends with a discussion on the identified research gaps concerning the influence of AQ on tourism development.

The Chinese fund market has witnessed significant developments in recent years. However, although there has been a range of studies assessing fund performance in developed industries, the rapidly developing fund industry in China has received very little attention. This study aims to examine the performance of open-end securities investment funds investing in Chinese domestic equity during the period May 2003 to September 2020. Specifically, applying a non-parametric bootstrap methodology from the literature on fund performance, the authors investigate the role of skill versus luck in this rapidly evolving investment funds industry.

This study evaluates the performance of Chinese equity securities investment funds from 2003–2020 using a bootstrap methodology to distinguish skill from luck in performance. The authors consider unconditional and conditional performance models.

The bootstrap methodology incorporates non-normality in the idiosyncratic risk of fund returns, which is a major drawback in “conventional” performance statistics. The evidence does not support the existence of “genuine” skilled fund managers. In addition, it indicates that poor performance is mainly attributable to bad stock picking skills.

The authors find that the top-ranked funds with positive abnormal performance are attributed to “good luck” not “good skill” while the negative abnormal performance of bottom funds is mainly due to “bad skill.” Therefore, sensible advice for most Chinese equity investors would be against trying to “pick winners funds” among Chinese securities investment funds but it would be recommended to avoid holding “losers.” At the present time, investors should consider other types of funds, such as index/tracker funds with lower transactions. In addition, less risk-averse investors may consider Chinese hedge funds [Zhao (2012)] or exchange-traded fund [Han (2012)].

The paper makes several contributions to the literature. First, the authors examine a wide range (over 50) of risk-adjusted performance models, which account for both unconditional and conditional risk factors. The authors also control for the profitability and investment risks in Fama and French (2015). Second, the authors select the “best-fit” model across all risk-adjusted models examined and a single “best-fit” model from each of the three classes. Therefore, the bootstrap analysis, which is mainly based on the selected best-fit models, is more precise and robust. Third, the authors reduce the possibility that findings may be sample-period specific or may be a survivor (upward) biased. Fourth, the authors consider further analysis based on sub-periods and compare fund performance in different market conditions to provide more implications to investors and practitioners. Fifth, the authors carry out extensive robustness checks and show that the findings are robust in relation to different minimum fund histories and serial correlation and heteroscedasticity adjustments. Sixth, the authors use higher frequency weekly data to improve statistical estimation.