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1 – 2 of 2Qi Shi, Shufang Xiao, Kaiwen Chang and Jiaying Wu
With the accelerated technological advancement, innovation has become a critical factor, which affects the core competitiveness of a company. However, studies about the…
Abstract
Purpose
With the accelerated technological advancement, innovation has become a critical factor, which affects the core competitiveness of a company. However, studies about the relationship between internal stock option mechanisms and innovation productivity remain limited. Therefore, this paper aims to examine the impact of stock options and their elements design on innovation output from an internal mechanism perspective.
Design/methodology/approach
Using a sample of 302 stock option incentive plans announced and implemented between 2006 and 2016, this study uses the propensity score matching and difference-in-difference model to find out whether the implementation of stock options improves the innovation outputs of enterprises.
Findings
Based on the statistical analysis, it is concluded that: stock options can stimulate corporate innovation; a stock option may drive innovation outputs through two ways, performance-based incentives and risk-taking incentives, with the latter one playing a more dominant role and the risk-taking incentives of stock options, could be optimised when the non-executives granting proportion is larger, the granting range is limited, the incentive period is longer, the exercisable proportion is increasing, the price-to-strike ratio is lower and relatively loose performance assessment criteria are applied.
Originality/value
The conclusion reached in the study may provide valuable information to listed firms in designing and implementing the stock option plans.
Details
Keywords
Chongyi Chang, Gang Guo, Wen He and Zhendong Liu
The objective of this study is to investigate the impact of longitudinal forces on extreme-long heavy-haul trains, providing new insights and methods for their design and…
Abstract
Purpose
The objective of this study is to investigate the impact of longitudinal forces on extreme-long heavy-haul trains, providing new insights and methods for their design and operation, thereby enhancing safety, operational efficiency and track system design.
Design/methodology/approach
A longitudinal dynamics simulation model of the super long heavy haul train was established and verified by the braking test data of 30,000 t heavy-haul combination train on the long and steep down grade of Daqing Line. The simulation model was used to analyze the influence of factors on the longitudinal force of super long heavy haul train.
Findings
Under normal conditions, the formation length of extreme-long heavy-haul combined train has a small effect on the maximum longitudinal coupler force under full service braking and emergency braking on the straight line. The slope difference of the long and steep down grade has a great impact on the maximum longitudinal coupler force of the extreme-long heavy-haul trains. Under the condition that the longitudinal force does not exceed the safety limit of 2,250 kN under full service braking at the speed of 60 km/h the maximum allowable slope difference of long and steep down grade for 40,000 t super long heavy-haul combined trains is 13‰, and that of 100,000 t is only 5‰.
Originality/value
The results will provide important theoretical basis and practical guidance for further improving the transportation efficiency and safety of extreme-long heavy-haul trains.
Details