Search results

The environment of international business (IB) and the capabilities of emerging market multinational enterprises (EMNEs) as well as their home countries have changed significantly, leading to some new features of liability of origin (LOR). This paper aims to extend the LOR literature by particularly focusing on the LOR of Chinese multinational enterprises (MNEs) and by taking into account the heterogeneity among industries and across individual MNEs.

Based on the stereotype content model and organizational legitimacy perspective, this study explores how LOR influences Chinese MNEs’ cross-border acquisition completions. Several hypotheses were tested by using a binary logistic regression model with panel data techniques based on data of 780 Chinese MNEs’ acquisition deals between 2008 and 2018.

The results of this study show that when the competence dimension of China’s LOR is perceived as high in the host country, Chinese MNEs are less likely to complete cross-border acquisitions. Moreover, deals are less likely to be completed when the warmth dimension of China’s LOR is perceived to be low. Global experience and the foreign-listed status of individual Chinese MNEs can alter the relationship between the LOR and deal completions.

This study advances and enriches the LOR research. It shows that a high level of competence in the home country has led to LOR for Chinese MNEs rather than the low level of competence proposed by existing LOR studies; and the LOR for Chinese MNEs is also determined by the perceived low level of warmth in the home country resulting from the geopolitical conflicts between two countries. In addition, the LOR suffered by EMNEs could vary based on certain industry- and firm-level characteristics. The findings of this study provide important practical implications for emerging economy governments and for firms intending to go abroad.

The objective of this paper is twofold: first, to model the value of the firm in the presence of contingent capital and multiple growth options over its life cycle in a stochastic universe to ensure financial stability and recover losses in case of default and second, to clarify how contingent convertible (CoCo) bonds as financial instruments impact the leverage-ratio policies, inefficiencies generated by debt overhang and asset substitution for a firm that has multiple growth options. Additionally, what is its impact on investment timing, capital structure and asset volatility?

The current paper elaborates the modeling of a dynamic problem with respect to the interaction between funding and investment policies during multiple sequential investment cycles simultaneously with dynamic funding. The authors model the value of the firm in the presence of contingent capital that provides flexibility in dealing with default risks as well as growth options in a stochastic universe. The authors examine the firm's closed-form solutions at each stage of its decision-making process before and after the exercise of the growth options (with and without conversion of CoCo) through applying the backward indication method and the risk-neutral pricing theory.

The numerical results show that inefficiencies related to debt overhang and asset substitution can go down with a higher conversion ratio and a larger number of growth options. Additionally, the authors’ analysis reveals that the firm systematically opts for conservative leverage to minimize the effect of debt overhang on decisions so as to exercise growth options in the future. However, the capital structure of the firm has a substantial effect on the leverage ratio and the asset substitution. In fact, the effect of the leverage ratio and the risk-shifting incentive will be greater when the capital structure changes during the firm's decision-making process. Contrarily to traditional corporate finance theory, the study displays that the value of the firm before the investment expansion decreases and then increases with asset volatility, instead of decreasing overall with asset volatility.

The study’s findings reveal that funding, default and conversion decisions have crucial implications on growth option exercise decisions and leverage ratio policy. The model also shows that the firm consistently chooses conservative leverage to reduce the effect of debt overhang on decisions to exercise growth options in the future. The risk-shifting incentive and the debt overhang inefficiency basically decrease with a higher conversion ratio and multiple growth options. However, the effect of the leverage ratio and the risk-shifting incentive will be greater when the capital structure changes during the firm's decision-making process.

The firm's composition between assets in place and growth options evolves endogenously with its investment opportunity and growth option financing, as well as its default decision. In contrast to the standard capital structure models of Leland (1994), the model reveals that both exogenous conversion decisions and endogenous default decisions have significant implications for firms' growth option exercise decisions and debt policies. The model induces some predictions about the dynamics of the firm's choice of leverage as well as the link between the dynamics of leverage and the firm's life cycle.

The concept and practice of e-services has become essential in business transactions. Yet there are still many organizations that have not developed e-services optimally. This is especially relevant in the context of Indonesian Airline companies. Therefore, many airline customers in Indonesia are still in doubt about it, or even do not use it. To fill this gap, this study attempts to develop a model for e-services adoption and empirically examines the factors influencing the airlines customers in Indonesia in using e-services offered by the Indonesian airline companies. Taking six Indonesian airline companies as a case example, the study investigated the antecedents of e-services usage of Indonesian airlines. This study further examined the impacts of motivation on customers in using e-services in the Indonesian context. Another important aim of this study was to investigate how ages, experiences and geographical areas moderate effects of e-services usage.

The study adopts a positivist research paradigm with a two-phase sequential mixed method design involving qualitative and quantitative approaches. An initial research model was first developed based on an extensive literature review, by combining acceptance and use of information technology theories, expectancy theory and the inter-organizational system motivation models. A qualitative field study via semi-structured interviews was then conducted to explore the present state among 15 respondents. The results of the interviews were analysed using content analysis yielding the final model of e-services usage. Eighteen antecedent factors hypotheses and three moderating factors hypotheses and 52-item questionnaire were developed. A focus group discussion of five respondents and a pilot study of 59 respondents resulted in final version of the questionnaire.

In the second phase, the main survey was conducted nationally to collect the research data among Indonesian airline customers who had already used Indonesian airline e-services. A total of 819 valid questionnaires were obtained. The data was then analysed using a partial least square (PLS) based structural equation modelling (SEM) technique to produce the contributions of links in the e-services model (22% of all the variances in e-services usage, 37.8% in intention to use, 46.6% in motivation, 39.2% in outcome expectancy, and 37.7% in effort expectancy). Meanwhile, path coefficients and t-values demonstrated various different influences of antecedent factors towards e-services usage. Additionally, a multi-group analysis based on PLS is employed with mixed results. In the final findings, 14 hypotheses were supported and 7 hypotheses were not supported.

The major findings of this study have confirmed that motivation has the strongest contribution in e-services usage. In addition, motivation affects e-services usage both directly and indirectly through intention-to-use. This study provides contributions to the existing knowledge of e-services models, and practical applications of IT usage. Most importantly, an understanding of antecedents of e-services adoption will provide guidelines for stakeholders in developing better e-services and strategies in order to promote and encourage more customers to use e-services. Finally, the accomplishment of this study can be expanded through possible adaptations in other industries and other geographical contexts.

This chapter provides an overview of the status of applied econometric research in hospitality and tourism management and outlines the econometric toolsets available for quantitative researchers using empirical data from the field. Basic econometric models, cross-sectional models, time-series models, and panel data models are reviewed first, followed by an evaluation of relevant applications. Next, econometric modeling topics that are germane to hospitality and tourism research are discussed, including endogeneity, multi-equation modeling, causal inference modeling, and spatial econometrics. Furthermore, major feasibility issues for applied researchers are examined based on the literature. Lastly, recommendations are offered to promote applied econometric research in hospitality and tourism management.

This article proposes a model of subjective rationalities to shed light on the global phenomenon of parental reliance on private tutoring for their children. The model is illustrated using the examples of the rational decision-making process and outcome of parents with regards to enrolling their children in private tutoring in South Korea and Singapore.

This is a theoretical paper that relies on a critical review of official documents, academic publications and newspaper reports.

This article proposes an original model to shed light on the global phenomenon of parental reliance on private tutoring for their children. The model highlights the following: the dynamic interactions between parents, education policy and private tutoring; the active role of private tutoring providers; and the socio-culturally embedded and complex nature of educational decisions.

This is a conceptual paper that proposes a theoretical model, so there is no empirical data.

This article fills an existing research gap on the dynamic interactions between the parents, education policy and private tutoring. It offers an original model that illuminates the rational decision-making process and outcome of parents that pertains to private tutoring for their children.

Electronic commerce (EC) strategy – performance logic has gained significant popularity in the literature, particularly from the resource-based view (RBV) of theoretical underpinning. However, such an obsession of focusing on organizations' complementary resources has been increasingly challenged, which has pressed the RBV to examine the possibility of external factors that can also impact firm performance. In this study, the authors shed light on the firm's external readiness—defined as the extent to which a firm's customers and suppliers perceive EC as important—in the relationship between SME's complementary resources and firm performance.

The authors employed a refined data set based on the British EC Award database, in which the authors sampled 430 British SMEs' senior managements and examined how EC investments made by the SMEs influenced firm performance, and how their external readiness moderated this main relationship.

The results showed that, in line with the RBV perspective, SMEs' complementary business resources and human resources both had strong and direct impacts on the firm performance. They were also strongly mediated by EC functionality. In addition, SMEs' external readiness moderated the relationship between human resources and firm performance and that of EC functionality on firm performance.

The findings contribute to RBV theory building by extending earlier research on the role of technology as performance enablers for SMEs and shed light on the often-overlooked role of SMEs' external readiness.

This study aims to explore the formation mechanism of aerodynamic noise of a high-speed maglev train and understand the characteristics of dipole and quadrupole sound sources of the maglev train at different speed levels.

Based on large eddy simulation (LES) method and Kirchhoff–Ffowcs Williams and Hawkings (K-FWH) equations, the characteristics of dipole and quadrupole sound sources of maglev trains at different speed levels were simulated and analyzed by constructing reasonable penetrable integral surface.

The spatial disturbance resulting from the separation of the boundary layer in the streamlined area of the tail car is the source of aerodynamic sound of the maglev train. The dipole sources of the train are mainly distributed around the radio terminals of the head and tail cars of the maglev train, the bottom of the arms of the streamlined parts of the head and tail cars and the nose tip area of the streamlined part of the tail car, and the quadrupole sources are mainly distributed in the wake area. When the train runs at three speed levels of 400, 500 and 600 km·h⁻¹, respectively, the radiated energy of quadrupole source is 62.4%, 63.3% and 71.7%, respectively, which exceeds that of dipole sources.

This study can help understand the aerodynamic noise characteristics generated by the high-speed maglev train and provide a reference for the optimization design of its aerodynamic shape.

The purpose of this study is to characterize the galvanic corrosion behavior of a simulated X80 pipeline steel welded joint (PSWJ) reconstructed by the wire beam electrode (WBE) and numerical simulation methods.

The galvanic corrosion of an X80 PSWJ was studied using WBE and numerical simulation methods. The microstructures of the coarse-grained heat affected zone, fine-grained heat affected zone and intercritical heat affected zone were simulated in X80 pipeline steel via Gleeble thermomechanical simulation processing.

Comparing the corrosion current density of coupled and isolated weld metal (WM), base metal (BM) and heat-affected zone (HAZ), the coupled WM exhibited a higher corrosion current density than isolated WM; the coupled BM and HAZ exhibited lower corrosion current densities than isolated BM and HAZ. The results exhibited that the maximum anodic galvanic current fitted the Gumbel distribution. Moreover, the numerical simulation results agreed well with the experimental data.

This study provides insight into corrosion evaluation of heterogeneous welded joints by a combination of experiment and simulation. The method of reconstruction of the welded joint has been proven to be a feasible approach for studying the corrosion behavior of the X80 PSWJ with high spatial resolution.

The purpose of this paper is to examine how participation in an online health community provides for direct benefits in the form of information utility and social support and an indirect influence on perceptions of patient empowerment.

A multi‐method approach was conducted involving interviews with moderators of 18 online health communities and a field survey of 153 online health community participants.

Online health community participation leads to direct benefits in the form of information utility and social support and that information utility also helps to shape perceptions of patient empowerment among community participants.

This research calls into question the role of online health communities as a support mechanism to empower patients to take ownership over their healthcare treatment. Online health communities support the development of patient empowerment by creating and disseminating information that can be used to gain an understanding of a patient's health condition.

Purveyors of online health communities must be able to ensure a high level of engagement among community participants that allows for each member to elicit outcomes such as information utility, while simultaneously guarding against undesirable circumstances that may prohibit a positive experience.

Medical professionals can utilize the results of this study to develop strategies for incorporating online health communities into patient care. Specifically, medical professionals can use these results to identify relevant communities and engage in information sharing to ensure relevant and accurate information is disseminated to patients as they seek out information concerning their health conditions.

As an ever growing segment of the population looks to online health communities for health information seeking and emotional support, we still know very little as to the type of support that is provided by these forums and how benefits obtained from participation help to shape patient empowerment outcomes. This study determined that information utility and social support are two benefits obtained by online health community participants and that information utility also helps to shape perceptions of patient empowerment among community participants.

This paper aims to perform experimental test on fatigue characteristics of package on package (POP) stacked chip assembly under thermal cycling load. Some suggestions for design to prolong fatigue life of POP stacked chip assembly are provided.

The POP stacked chip assembly which contains different package structure mode and chip position was manufactured. The fatigue characteristics of POP stacked chip assembly under thermal cycling load were tested. The fatigue load spectrum of POP stacked chip assembly under thermal cycling load was given. The fatigue life of chips can be estimated by using the creep–fatigue life prediction model based on different stress conditions.

The solder joint stress of top package is significantly less than that of bottom solder joints, and the maximum value occurs in the middle part of the solder joints inner ring.

This paper fulfils useful information about the thermal reliability of POP stacked chip assembly with different structure characteristics and materials parameters.