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This study aims to show the importance of natural convection of supercritical fluid in an inclined cavity. The heat transfer performance of natural convection can be improved.

A model of an inclined cavity was set up to simulate the natural convection of supercritical fluid. The influence of inclined angles (30 to approximately 90°) and pressures (8 to approximately 12 MPa) are analyzed. To ascertain flow and heat transfer of supercritical fluid natural convection, this paper conducts a numerical investigation using the lattice Boltzmann method (LBM), which is proven to be precise and convenient.

The results show that the higher heat transfer performance can be obtained with an inclined angle of 30°. It is also presented that the heat transfer performance under pressure of 10 MPa is the best. In addition, common criterion number correlations of average Nusselt number are also fitted.

These study results can provide a theoretical reference for the study of heat transfer of supercritical fluid natural convection in engineering.

On the basis of behavioural agency theory and resource-based view, this study investigates the influence of family firm birth mode (i.e. indirect-established or direct-established), family entering time on R&D investment and the moderating role of the family entering time on the relationship between birth mode and R&D investment.

The authors collected 2,990 firm-year observations from family firms listed on A-share in China from 2008 to 2016 in the China Stock Market and Accounting Research database. They used pooled regression for data analysis and Tobit regression for robustness checks.

Indirect-established family firms show more inclined behaviour towards R&D investment than direct-established counterparts. Family entering time positively affects the R&D investment of family firms. Moreover, family entering time plays a significant moderating role in the relationship between family firm birth mode (i.e. indirect-established or direct-established) and R&D investment.

To the best of the authors’ knowledge, this work is a pioneering study that introduced the concept of family firm birth mode (i.e. indirect-established or direct-established) and family entering time. This work is novel because it differentiated family firms according to their birth modes, an approach which is a contribution to the existing literature of family firms. Moreover, the investigation of the moderating role of family entering time has also produced notable results that help understand the impact of family entering time on different types of family firms. The interpretation of outcomes according to behavioural agency theory also produced useful insights for future researchers as well as for policymakers.

This study examines how Confucianism, as an informal system, alleviates manager–shareholder conflicts and thus decreases managerial behavior of keeping higher levels of cash reserves. This study also investigates whether formal governance mechanisms (state ownership and institutional investors) moderate the relationship between Confucianism and cash holdings.

This study opts a sample of Chinese listed firms over the period of 2004–2015. The geographical-proximity-based method was followed to measure Confucianism, which is the distance between a firm's registered address and the national Confucianism centers.

The results indicate that Confucianism adversely influences cash holdings. The authors’ findings illustrate that Confucian culture promotes ethical behavior, and therefore, firms in a strong Confucianism environment keep a lower level of cash reserves. The authors further document that the effect of Confucianism on cash holding is weaker for state-owned firms but stronger for firms with low institutional ownership.

The findings provide implications for policymakers, academicians, and corporations. The results suggest that culture can reduce cash holdings. Especially, in emerging markets, such as China, where formal mechanisms are relatively less effective, informal institutions can serve an alternative system for alleviating adverse effects of agency conflicts.

This study contributes to the literature in two ways. First, this study contributes to cash holdings literature by showing that culture (Confucianism) is negatively associated with cash holdings. Second, this study extends the incumbent literature that seeks to explore how Confucian culture influences corporate behavior. To the best of the authors knowledge, this is the first study that identifies that Confucianism is associated with cash holdings.

The purpose of this paper is to investigate the literature on the treatment of primary pupils and inspecting the role of environmental psychology, e-learning, learning style and school design on the behavior of students in elementary schools.

A questionnaire was designed to evaluate the components of the model. Experts with significant experiences in the field of students’ behavior revised the surveys. Data were collected from 400 teachers of the elementary schools in Iran. The SMART-PLS 3.2 and SPSS 22 software package were used in the field of questionnaires’ statistical analysis.

Findings confirmed the suggested model’s validity for elementary students’ behavior assessment. The consequences of this research illustrated the effect of environmental psychology on the behavior of elementary students. In addition, the authors were concluded that intention to e-learning has a significant role in developing the action and behavior of the elementary students. Moreover, the learning style has an affirmative and considerable impact on the behavior of elementary students. Finally, school design has an affirmative and significant effect on the manner of the elementary students.

The consequences of this research have provided some traces about the basic perspectives, which have to be in the center of attention of administrators. For instance, school design and learning style sound to be a decisive mechanism for improving action and learning behavior. In addition, educational leaders may use the findings to evaluate their school facilities and define where developments will have the most significant impact or planners may use the results to assist architects in the design and construction of new educational services.

This study builds a valuable contribution by focusing on pupil environmental psychology, e-learning, learning style and school design in elementary schools by enlightening the connection between them and students’ manner.

The purpose of this paper is to study the microstructure and mechanical behaviour of smaller microbumps for high density solder interconnects.

The microstructure was analyzed by scanning electron microscopy and electron backscatter diffraction tests to determine the Sn grain number of the resultant microbumps. The nanomechanical properties of Sn microbumps were investigated by the nanoindentation and shearing tests to understand the failure mechanism and assess the reliability of ultra-high density solder interconnects with numbered grains.

Only one Sn grain is observed in the interconnect matrix when the microbumps are miniaturized to 40 μm or less. Because of the body-centred tetragonal lattice of ß-Sn unit cell, the mechanical properties of the one-grain Sn microbumps are remarkably anisotropic, which are proved by the difference of the elastic modulus and the stiffness in the different orientations. The shearing tests show that the one-grain Sn microbump has a typical brittle sliding fracture of monocrystal at different shearing speeds.

The paper provides a comparable study for the performance of the bigger solder joints and also makes preliminary research on the microstructure and mechanical behaviour of Sn microbumps with the diameter of 40 μm.

The findings in this paper provide methods of microstructure study by combination of EBSD test and metallographic analysis, mechanical study by combination of nanoindentation test and shearing test, which can provide good guidelines for other smaller microbumps. The strain rate sensitivity exponent of the one-grain Sn microbumps is consistent with the Pb-free bulk solder. This implies that the one-grain Sn microbump has a comparable flow stress to Sn37Pb solder, which is beneficial for Pb-free replacement in higher density microelectronic packaging.

This paper aims to study the impact of external fairness of executive compensation on M&A premium, and examine the moderate role of institutional investors. The high M&A premium is the main factors that induce the huge impairment of listed companies’ goodwill and the plummeting performance. Executives are the decision-makers of M&As, and their decision-making process is inevitably affected by the psychological factors. In recent years, institutional investors have become an important external force that can affect the governance of listed companies.

The authors use M&A data of listed companies from 2008 to 2018 and use OLS regression to test the relationship between executive compensation fairness and M&A premium.

The results show that the lower the external fairness of executive compensation, the greater the M&A premium. Institutional investors can effectively reduce the impact of external compensation unfairness on M&A premiums. The mechanism tests show that executives' psychological perception of fairness induced by external unfairness reduces their motivation to work and prompts them to use high premium to seek alternative compensation incentives. Further examinations of executive characteristics and corporate characteristics show that the role of external unfairness in executive compensation in driving M&A premiums is more pronounced in companies with longer executive tenure, weaker executive reputation incentives and private property.

This paper enriches the research on the pre-factors of M&A premiums from the perspective of executives’ psychological perception of fairness, provides evidence that institutional investors play a positive governance role and provides decision-making references for companies to take corresponding measures to reduce M&A premium risks.

Research on grey systems is becoming more sophisticated, and grey relational and prediction analyses are receiving close review worldwide. Particularly, the application of grey systems in marine economics is gaining importance. The purpose of this paper is to summarize and review literature on grey models, providing new directions in their application in the marine economy.

This paper organized seminal studies on grey systems published by Chinese core journal database – CNKI, Web of Science and Elsevier from 1982 to 2018. After searching the aforementioned database for the said duration, the authors used the CiteSpace visualization tools to analyze them.

The authors sorted the studies according to their countries/regions, institutions, keywords and categories using the CiteSpace tool; analyzed current research characteristics on grey models; and discussed their possible applications in marine businesses, economy, scientific research and education, marine environment and disasters. Finally, the authors pointed out the development trend of grey models.

Although researches are combining grey theory with fractals, neural networks, fuzzy theory and other methods, the applications, in terms of scope, have still not met the demand. With the increasingly in-depth research in marine economics and management, international marine economic research has entered a new period of development. Grey theory will certainly attract scholars’ attention, and its role in marine economy and management will gain considerable significance.