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The aim of this paper is to provide additional insights on the association between real earnings management (REM) and crash risk, particularly from the perspective of an emerging market economy. It also examines the moderation role that internal and external corporate governance may play in this area.

Relying on archival data from the RESSET and CSMAR databases over a timeframe from 2010 to 2018 of China listed company, the authors test the hypotheses by regressing common measures of crash risk on the treatment variable (REM) and crash risk control variables identified in the prior crash risk literature. The authors also introduce monitoring proxies (internal controls as an internal governance and institutional ownership as an external governance) and assess how effective internal and external governance moderate the relation between REM and stock price crash risk.

The results suggest firms with higher REM have a significantly greater stock price crash risk, and that this association is mitigated by external monitoring. That is, greater institutional ownership, particularly pressure insensitive owners, mitigates the impact of REM on stock price crash risk. However, internal control does not mitigate the association between REM and stock price crash risk.

Following the passage of the Sarbanes–Oxley (SOX) Act, prior research has documented an increase in the use of REM and a positive association between REM and cash risk. The authors demonstrate that they persist in one of the largest emerging markets where institutional regulations, market conditions and corporate behaviors are different from those in developed markets. Also, the assessment of the moderation effect of internal and external governance mechanisms could have meaningful implications for investors and regulators in Chinese and other emerging markets.

Recognising the growing importance of environmental and sustainable activities and the role of communication strategies in soliciting their financing, this work investigates the influence of message framing, green emphasis and quantitative information on the probability of green crowdfunding campaigns' success.

This analysis is based on crowdfunding campaigns published between 2015 and 2020 on the Indiegogo platform in the category “Community projects – Environment”. The study develops an in-depth qualitative content analysis of the projects before performing an empirical examination to determine funding causes.

Communication strategies (message framing, green emphasis and quantitative goals) affect funding success. However, project category moderates the impact of message framing and green emphasis on campaign success. While positive framing increases agri-food campaign success, negative framing is more effective for clean energy and climate preservation projects. Moreover, indication of a quantitative goal and a marked green emphasis in a project's presentation increase campaign success, but a too marked green emphasis is only effective for agri-food projects.

Green entrepreneurs and campaign managers must work carefully on their projects' communication, accounting for the type of product proposed, emphasising green components in its description and utilising quantitative information to present future goals. These strategies maximise backers' responses and enable entrepreneurs to obtain funding. The authors’ findings may be extended to other contexts, including the banking sector, to craft effective communication strategies for green financial products.

By applying framing theory in a new context (i.e. the online financing of green entrepreneurs), this study identifies new campaign success determinants and provides evidence for the moderating role of project category. Furthermore, the study highlights the need to develop different communication strategies for social and environmental-oriented projects.

This study investigates the determinants of digital census for population and housing census (PHC) program through the lens of performance expectancy, technology readiness, self-efficacy and hedonic motivation for the upliftment of a national data collection exercise and development of human resource management.

A quantitative and qualitative research method was used to survey enumerators' responses from the PHC exercise during the COVID-19 period in Ghana. Based on the four determinants, a conceptual framework was developed consisting of eight proposed hypotheses tested through a structural equation model.

The findings of the study indicate that technological readiness, self-efficacy and hedonic motivation significantly influence behavioural intention to adopt digital technologies for PHC training and data collection. Importantly, the authors identified four key themes relating to digital technologies in PHC – personal enablers, general enablers, inherent affordances (inherent possibilities by the user in relation to what the technology offers in context) and personal inhibitors.

For research, this work systematizes antecedents from diverse research streams and validates their relative impact on government digital transformation for accurate data, thus providing a cohesive theoretical explanation of digital technologies in PHC. Due to the study's infancy in a developing country context, the findings provide a preliminary foundation and constructive insight for a digitalization plan conducive to people’s personality and technological readiness.

With the growing popularity of social media, it has become common practice for consumers to write online reviews to share their opinion and experience as well as consider others' reviews to inform purchase decision-making. This study investigated how online review sentiments towards four key aspects (food, service, ambience and price) change after a restaurant is awarded a Michelin Star to shed light on how the award of a Michelin Star affects online reviews as well as what factors contribute to positive online restaurant reviews.

The authors conducted a sentiment analysis of online restaurant reviews on TripAdvisor. A total of 8,871 English-written reviews from 87 restaurants located in Europe were extracted using a web crawler developed by Beautiful Soup, and data were then processed using Semantria.

The study findings revealed that overall sentiments decreased after restaurants were awarded a Michelin Star, in which service sentiment was the most affected aspect, followed by food and ambience. Yet, price sentiment showed a prominent increase. This provides valuable insights for Michelin-starred restaurant operators and owners to create a unique and compelling gastronomic experience that triggers positive online reviews.

The results of this study argue that consumers tend to hold higher expectations for this type of upscale restaurants given its recognition and quality assurance, so they are more likely to have negative feelings when their expectations are disconfirmed. Therefore, restaurants should continuously improve their food and service while paying attention to small details such as ambience, through creativity and innovation. Also, high-end restaurants, especially Michelin-starred restaurants, usually have the edge in premium pricing, yet competitive pricing may backfire considering its perceived luxurious values.

This study analyzed changes in customer sentiments when a restaurant is awarded a Michelin Star through text analytics. Through the lens of online restaurant reviews, the study findings contribute to identifying aspects that are most or least affected by the award of a Michelin Star as well as highlight the role of ambience in customer satisfaction which might have been overlooked in previous studies.

隨著社交媒體日趨普及，消費者出現一種常見的做法，就是在網上書寫評論，分享他們的意見和體驗，他們也會參考其他消費者的評論，以在購物時能作出知情決定。本研究擬探討當餐館獲得米其林星級時，消費者對它們在四個主要方面 (即食物、服務、情調和價格) 的網上評價會如何改變。我們藉此能更容易了解、餐館獲得米其林星級會如何影響其網上評論，以及是哪些因素、會為這些餐館帶來正面的網上評價。

我們對貓途鷹平台上的網上餐館評論進行情感分析。透過BeautifulSoup 研發的網絡爬蟲，我們取出位於歐洲87間餐館、共8,871個以英文書寫的評論，並把這些數據以Semantria加以處理。

研究結果顯示、當餐館獲得米其林星級時，顧客的整體情緒會下降，而其中最受影響的是服務情懷，其次是食物和情調; 但價格情緒卻有明顯的上升。這研究結果給獲得米其林星級餐館的經營者及其東主提供寶貴的啟示，讓他們了解如何為顧客創造一個可帶來正面網上評價的獨特而難忘的美食體驗。

本研究透過文本挖掘、去分析當餐館獲得米其林星級時，顧客情緒會如何改變; 透過網上餐館評論這面透視鏡子，本研究得到的結果、幫助我們確定米其林星級的聲譽所影響最大和最小的是哪些方面，以及讓我們更深入了解餐館的情調在顧客滿意程度上所扮演的角色，而這個角色在過去的研究中似被忽視。

本研究的結果提供了論據、證明由於消費者對擁有相關的認可和品質保證的這類高檔餐館一般予以較高的期望，故當他們發現期望與現實不符時，他們更容易產生負面的情緒; 因此，餐館在關注如情調方面的細節的同時，也應透過創造力和新觀念、去不斷改善他們提供的食物素質和服務水平; 而且，高檔餐館，尤其是獲得米其林星級的餐館，通常在溢價定價方面享有優勢，但當考慮到感知的奢華價值時，具競爭力的價格或會為餐館帶來反效果。

This study aims to investigate the impacts of bank capital requirements on the performance and risk of the emerging economy, i.e. Bangladeshi banking sector.

The study applies an unbalanced panel data which comprises 30 banks yielding a total of 413 bank-year observations over the period 2000 to 2015.

Using generalized methods of moments, the empirical results of this research reveal that bank capital is positively and significantly impressive on bank performance, whereas negatively and significantly impact on risk. The study also finds the inverse relationship between risk and performance in both the performance and risk equations. The results also indicate that there is a persistence of performance and risk from one year to the next year.

This is the unique investigation on Bangladeshi bank industry that considers the simultaneous effect of bank capital requirements on risk and performance. Therefore, it is predicted that the empirical evidence of this research shows policy implications to the regulatory authority of Bangladeshi banking industry to determine relevant policies.

This paper aims to examine the relationship between supply integration and firm performance by first, investigating the mediating effects of manufacturing flexibility and mass customization; and second, exploring the moderating role of innovation orientation on the link between internal capabilities and performance.

Resource orchestration and contingency theories are used to address the mediating and moderating effects. A cross-sectional data set on 242 Swedish manufacturers is used to test for the hypotheses using structural equation modeling.

The findings provide support for the mediating roles of manufacturing flexibility and mass customization in the relationship between supply integration and firm performance. However, the results point to contrasting contingent effects of innovation orientation. While innovation orientation positively moderates the association between mass customization and firm performance, it shows a negative impact on the link between flexibility and performance.

The study contributes to the literature on the integrative activities with upstream supply chain actors. Specifically, the authors highlight how specific capability configurations comprising of supply integration, manufacturing flexibility and mass customization lead to firm performance. Moreover, the authors provide insights on the contingency role of innovation, especially if firms consider flexibility or customization capabilities.

While the individual impacts of flexibility and customization on performance have been addressed previously, there is a paucity of research on how these two capabilities are integrated with supply integration. Moreover, there is little known regarding the role of innovation orientation on these integrated relationships.

Recently, inland Chinese regions have become the major manufacturing base for most manufacturing firms. Accordingly, with this change, many shipping companies attempted to provide proper logistics service activities to maintain their business. Hence, this study aims to empirically examine the logistics service preference segments for Chinese landlocked regions from a manufacturer's perspective. By understanding these attributes, not only shipping companies but also logistics companies can provide proper service to their customers.

The preliminary logistics service attributes are determined using an interview and in-depth questionnaire with logistics experts from the local private and government sectors in southwest China and few international logistics coordinators. This study conducted importance-performance analysis (IPA) and used a customer dissatisfaction attitude index to evaluate the priorities for improving logistics service attributes. Cluster analysis is subsequently performed to group respondents on the basis of their factor scores.

Five crucial logistics service dimensions were identified by the factor analysis, namely, packing and storage, logistics supporting, logistics information, transportation planning and information inquiry. The results also revised the IPA model. The top five service attributes that needed to be improved were carrier selection, ship scheduling inquiry, route planning and inquiry, cargo receiving station and freight forwarding. By applying the factor analysis, this study reduced the 27 logistics attributes derived from the literature review to five underlying critical factors.

This study contributes to the inland logistics by investigating the preferences of manufacturers in Chinese landlocked regions. Moreover, in land logistics in China is lacking in the literature; hence, several important implications can be derived from this study's results.

An emerging line of research examining the role of numerological superstition in the capital market shows that it has significant impact on investor behavior (Bhattacharya, Kuo, Lin, & Zhao, 2018; Hirshleifer, Jian, & Zhang 2018). However, to the authors’ best knowledge, there is a dearth of evidence on whether numerological superstition affects corporate behavior. This study fills this void by examining the association between investors’ numerological superstition and earnings management using Chinese data.

Chinese culture views 6 and 8 as lucky numbers. Using Chinese publicly traded firms, the authors examine the relation between investors’ numerological superstition and corporate financial reporting behavior.

The results suggest that firms reporting lucky earnings-per-share (EPS) numbers ending with 6 or 8 are more likely to engage in earnings management. These firms also raise more capital through seasoned equity offerings in the following year; however, they do not have more capital investments. Instead, their controlling shareholders siphon a significant amount of capital through related party transactions. Overall, the findings suggest that managers collude with controlling shareholders to manage earnings by exploiting the superstitious beliefs of minority shareholders.

To the authors’ best knowledge, there is a dearth of evidence on whether numerological superstition affects corporate behavior. This study fills this void by examining the association between investors’ numerological superstition and earnings management using Chinese data.