Search results

The purpose of this study is to examine the impact of chief executive officer (CEO) hometown identity on company audit fees in the Chinese setting.

This study uses data from Chinese public companies in the Shanghai Stock Exchange and the Shenzhen Stock Exchange for the period 2008–2019. This study investigates the impact path of CEO hometown identity on company audit fees and further examines the moderating role of internal and external governance level.

This study finds that CEO hometown identity is significantly and negatively related to company audit fees. In addition, CEO hometown identity can reduce audit fees by alleviating agency risk and litigation risk. Moreover, the negative effect of CEO hometown identity on audit fees is more pronounced in companies with a higher percentage of institutional investors shareholding and more analysts tracking quantity.

This study may provide new references for executives’ selection, auditors’ optimization decisions and regulators’ information disclosure system.

This study contributes to the literature by exploring the effect of CEO hometown identity on audit fees in the context of China.

With the presence of pricing errors, the authors consider statistical inference on the variance risk premium (VRP) and the associated implied variance, constructed from the option prices and the historic returns.

The authors propose a nonparametric kernel smoothing approach that removes the adverse effects of pricing errors and leads to consistent estimation for both the implied variance and the VRP. The asymptotic distributions of the proposed VRP estimator are developed under three asymptotic regimes regarding the relative sample sizes between the option data and historic return data.

This study reveals that existing methods for estimating the implied variance are adversely affected by pricing errors in the option prices, which causes the estimators for VRP statistically inconsistent. By analyzing the S&P 500 option and return data, it demonstrates that, compared with other implied variance and VRP estimators, the proposed implied variance and VRP estimators are more significant variables in explaining variations in the excess S&P 500 returns, and the proposed VRP estimates have the smallest out-of-sample forecasting root mean squared error.

This study contributes to the estimation of the implied variance and the VRP and helps in the predictions of future realized variance and equity premium.

This study is the first to propose consistent estimations for the implied variance and the VRP with the presence of option pricing errors.

This paper aims to propose cooperative control strategies for dual-arm robots in different human–robot collaborative tasks in assembly processes. The authors set three different regions where robot performs different collaborative ways: “teleoperate” region, “co-carry” region and “assembly” region. Human holds the “master” arm of dual-arm robot to operate the other “follower” arm by our proposed controller in “teleoperation” region. Limited by the human arm length, “follower” arm is teleoperated by human to carry the distant object. In the “co-carry” region, “master” arm and “follower” arm cooperatively carry the object to the region close to the human. In “assembly” region, “follower” arm is used for fixing the object and “master” arm coupled with human is used for assembly.

A human moving target estimated method is proposed for decreasing efforts for human to move “master” arm, radial basis functions neural networks are used to compensate for uncertainties in dynamics of both arms. Force feedback is designed in “master” arm controller for human to perceive the movement of “follower” arm. Experimental results on Baxter robot platform show the effectiveness of this proposed method.

Experimental results on Baxter robot platform show the effectiveness of our proposed methods. Different human-robot collaborative tasks in assembly processes are performed successfully under our cooperative control strategies for dual-arm robots.

In this paper, cooperative control strategies for dual-arm robots have been proposed in different human–robot collaborative tasks in assembly processes. Three different regions where robot performs different collaborative ways are set: “teleoperation” region, “co-carry” region and “assembly” region.

Metaverse is a virtual application spawned by digital technology that is becoming increasingly relevant to our lives. However, for the opportunities created and challenges posed by the metaverse, its important elements and future evolution trend remain largely unknown. Thus, this paper aims to understand the current status of metaverse research and its future research directions.

Based on the analysis of the literature data on the metaverse both in English and Chinese using Latent Dirichlet allocation (LDA) topic modeling and bibliometrics, this study discussed the related research and development trend of the metaverse. The authors first defined the concept of the metaverse and analyzed 1,378 English articles from seven publishers and 590 Chinese articles from the CNKI database. Following that, the authors summarized three important themes from the current studies: virtual world, metaverse technologies and metaverse applications. Finally, a framework of future directions on metaverse research was proposed.

The review found that during the rapid development of the metaverse, opportunities and challenges coexisted. In the virtual world, metaverse technologies drive the implementation of application scenarios, and in turn, applications promote the improvement of technologies. The interrelationship between technology and application lays the foundation for the development of the metaverse. Future metaverse research will generate different research directions.

This review provides a valuable, systematic perspective for individuals who want to understand the metaverse. The conceptual framework on metaverse research proposed in this paper offers a comparison of literature analysis from domestic and international perspectives and brings new insights into the development of the metaverse.

The purpose of this paper is to investigate the effects of Sn-Ag-x leveling layers on the mechanical properties of SnBi solder joints. Four Sn-Ag-x (Sn-3.0Ag-0.5Cu, Sn-0.3Ag-0.7Cu, Sn-0.3Ag-0.7Cu-0.5 Bi-0.05Ni and Sn-3.0Ag-3.0 Bi-3.0In) leveling layers were coated on Cu pads to prepare SnBi/Sn-Ag-x/Cu solder joints. The microstructure, hardness, shear strength and fracture morphology of solder joints before and after aging were studied.

The interfacial brittleness of the SnBi low-temperature solder joint is a key problem affecting its reliability. The purpose of this study is to improve the mechanical properties of the SnBi solder joint.

Owing to the addition of the leveling layers, the grain size of the ß-Sn phase in the SnBi/Sn-Ag-x/Cu solder joint is significantly larger than that in the SnBi/Cu eutectic solder joint. Meanwhile, the hardness of the solder bulk in the SnBi/Cu solder joint shows a decrease trend because of the addition of the leveling layers. The SnBi/Cu solder joint shows obvious strength drop and interfacial brittle fracture after aging. Through the addition of the Sn-Ag-x layers, the brittle failure caused by aging is effectively suppressed. In addition, the Sn-Ag-x leveling layers improve the shear strength of the SnBi/Cu solder joint after aging. Among them, the SnBi/SACBN/Cu solder joint shows the highest shear strength.

This work suppresses the interfacial brittleness of the SnBi/Cu solder joint after isothermal aging by adding Sn-Ag-x leveling layers on the Cu pads. It provides a way to improve the mechanical performances of the SnBi solder joint.

Concerning that limited explanation exists examining the function of corporate governance in trust processing within entrepreneurial network development, the purpose of this paper is to explore trust evolution and the role of corporate governance in an entrepreneurial network.

This paper makes an innovative exploration based on the case study of NVC Lighting Holding Limited.

It proposes that in the initial period of network relationship which is based on entrepreneur’s individual social network and embodies sole social network embeddness, entrepreneurial network relies more on affective trust than contractual trust. When stepping into extending period of network relationship which reflects separate embeddedness of social and market network, however, entrepreneurial network has an equal reliance on both affective trust and contractual trust. With further development, when ushering in the phase of maturity which undergoes superimposing embeddedness of both social and market network, entrepreneur network inclines to rely more heavily on affective trust than contractual trust. During the whole process, it can be found that the reliance of entrepreneurial network on trust has the tendency to transfer from affective trust to contractual trust. Furthermore, decreasing of equity ratio of founders and strengthening of controlling right heterogeneity in the corporate governance have facilitated the transfer process and the entrepreneurs’ authority has restraining effect on the evolution of the process.

Through case study, this paper presents the trust evolution process in different stages of entrepreneurial network. Another important theoretic contribution of this paper is that it reveals the function of corporate governance in trust processing within entrepreneurial network development.

The purpose of this paper is to discuss the autonomous navigation and guidance scheme for future precise and safe planetary landing.

Autonomous navigation and guidance schemes are proposed based on inertial measurement unit (IMU) and optical navigation sensors for precise and safe landing of spacecrafts on the moon and planetary bodies. First, vision‐aided inertial navigation scheme is suggested to achieve precise relative navigation; second, two autonomous obstacle detection algorithms, based on grey image from optical navigation camera and digital elevation map form light detection and ranging sensor, respectively, are proposed; and third, flowchart of automatic obstacle avoidance maneuver is also given out.

This paper finds that the performance of the proposed scheme precedes the traditional planetary landing navigation and guidance mode based on IMU and deep space network.

The presented schemes need to be further validated by the mathematical simulations and hardware‐in‐loop simulations, and then they can be used in the real flight missions.

The presented schemes are applicable to both future planetary pin‐point landing missions and sample return missions with little modification.

This paper presents the new autonomous navigation and guidance scheme in order to achieve the precise and safe planetary landing.

This paper analyzes the influence of intellectual capital on firms’ technological innovation, and the intermediary effect of supply chain learning in the relationship between different dimensions of intellectual capital and technological innovation. Using a questionnaire to survey 167 Chinese high and medium-high technological manufacturing firms, our research provides a new insight with interesting results. (1) Among the four dimensions of intellectual capital, only two dimensions, internal social capital and external social capital, exert positive effect on technological innovation; (2) Among the two dimensions of supply chain learning, learning from both suppliers and customers exerts a significant effect on technological innovation, and learning from the customer has a more significant effect; (3) A complete intermediary effect occurs from supply chain learning in the relationship among human capital, structural capital and technological innovation, while an incomplete intermediary effect occurs from supply chain learning in the relationship among external social capital, internal social capital, and technological innovation.

The increased complexity of water distribution networks (WDNs) emphasizes the importance of studying the relationship between topology and vulnerability of these networks. However, the few existing studies on this subject measure the vulnerability at a specific location and ignore to quantify the vulnerability as a whole. The purpose of this paper is to fill this gap by extending the topological vulnerability analysis further to the global level.

This paper introduces a two-step procedure. In the first step, this work evaluates the degree of influence of a node by employing graph theory quantities. In the second step, information entropy is used as a tool to quantify the global vulnerability of WDNs.

The vulnerability analysis results showed that a network with uniformly distributed centrality values exhibits a lower drop in performance in the case of partial failure of its components and therefore is less vulnerable. In other words, the failure of a highly central node leads to a significant loss of performance in the network.

The vulnerability analysis method, developed in this work, provides a decision support tool to implement a cost-effective maintenance strategy, which relies on identifying and prioritizing the vulnerabilities, thereby reducing expenditures on maintenance activities.

By situating the research in the entropy theory context, for the first time, this paper demonstrates how heterogeneity and homogeneity of centrality values measured by the information entropy can be interpreted in terms of the network vulnerability.

The purpose of this paper is to attempt to shift away from an exclusive probabilistic viewpoint or a pure network theory-based perspective for vulnerability assessment of infrastructure networks (INs), toward an integrated framework that accounts for joint considerations of the consequences of component failure as well as the component reliability.

This work introduces a fuzzy inference system (FIS) model that deals with the problem of vulnerability analysis by mapping reliability and centrality to vulnerability. In the presented model, reliability and centrality are first fuzzified, then 16 different rules are defined and finally, a defuzzification process is conducted to obtain the model output, termed the vulnerability score. The FIS model developed herein attempts to explain the linkage between reliability and centrality so as to evaluate the degree of vulnerability for INs elements.

This paper compared the effectiveness of the vulnerability score in criticality ranking of the components against the conventional vulnerability analysis methods. Comparison of the output of the proposed FIS model with the conventional vulnerability indices reveals the effectiveness of the vulnerability score in identifying the criticality of components. The model result showed the vulnerability score decreases by increasing reliability and decreasing centrality.

Two key practical implications for vulnerability analysis of INs can be drawn from the suggested FIS model in this research. First, the maintenance strategy based on the vulnerability analysis proposed herein will provide an expert facilitator that helps infrastructure utilities to identify and prioritize the vulnerabilities. The second practical implication is especially valuable for designing an effective risk management framework, which allows for least cost decisions to be made for the protection of INs.

As part of the first contribution, we propose a novel fuzzy-based vulnerability assessment model in building a qualitative and quantitative picture of the vulnerability of INs. The second contribution is especially valuable for vulnerability analysis of INs by virtue of offering a key to understanding the component vulnerability principle as being constituted by the component likely behavior as well as the component importance in the network.