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Open Access
Article
Publication date: 29 October 2019

Zhishuo Liu, Tian Fang, Yao Dongxin and Nianci Kou

Current models of transaction credit in the e-commerce network face many problems, such as the one-sided measurement, low accuracy and insufficient anti-aggression solutions. This…

Abstract

Purpose

Current models of transaction credit in the e-commerce network face many problems, such as the one-sided measurement, low accuracy and insufficient anti-aggression solutions. This paper aims to address these problems by studying the transaction credit problem in the crowd transaction network.

Design/methodology/approach

This study divides the transaction credit into two parts, direct transaction credit and recommended transaction credit, and it proposes a model based on the crowd transaction network. The direct transaction credit comprehensively includes various factors influencing the transaction credit, including transaction evaluation, transaction time, transaction status, transaction amount and transaction times. The recommendation transaction credit introduces two types of recommendation nodes and constructs the recommendation credibility for each type. This paper also proposes a “buyer + circle of friends” method to store and update the transaction credit data.

Findings

The simulation results show that this model is superior with high accuracy and anti-aggression.

Originality/value

The direct transaction credit improves the accuracy of the transaction credit data. The recommendation transaction credit strengthens the anti-aggression of the transaction credit data. In addition, the “buyer + circle of friends” method fully uses the computing of the storage ability of the internet, and it also solves the failure problem of using a single node.

Details

International Journal of Crowd Science, vol. 3 no. 3
Type: Research Article
ISSN: 2398-7294

Keywords

Article
Publication date: 18 May 2021

Daoguang Yang, Jiani Wang and Hanwen Chen

This study aims to investigate whether and how earnings guidance affects corporate innovation.

Abstract

Purpose

This study aims to investigate whether and how earnings guidance affects corporate innovation.

Design/methodology/approach

Exploiting the setting of China, where the Shenzhen Stock Exchange has required all public firms listed on its ChiNext board to issue earnings guidance since 2012, this study uses a difference-in-differences (DID) methodology to examine the effect of earnings guidance on corporate innovation and further conducts cross-sectional analyzes from the information risk and monitoring demand perspectives. Moreover, the authors conduct path analysis to verify the possible channels through which corporate innovation is impeded by market pressure or improved through increased corporate transparency.

Findings

This study documents a positive relationship between earnings guidance and corporate innovation, as measured by the number of invention patents, indicating that the “corporate governance” hypothesis dominates in China. Cross-sectional analyzes show that this positive effect is more pronounced for firms subject to greater information risk and monitoring demand. Finally, the path analysis further confirms that earnings guidance improves innovation by increasing corporate transparency.

Practical implications

First, this study captures the bright side of mandatory earnings guidance and suggests that increasing the disclosure frequency can yield benefits for firms. Second, the findings imply that regulations, regardless of what they refer to, should be based on a country’s specific context.

Originality/value

First, this study provides evidence supporting the “corporate governance” argument based on the context of China and, thus contributes to the debate on earnings guidance. Second, this study enriches the literature on the economic consequences of earnings guidance. Third, the study extends research on the determinants of corporate innovation.

Details

Nankai Business Review International, vol. 12 no. 3
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 16 August 2019

Tian Fang and Daiyong Ye

This paper aims to prepare good waterborne light-diffusion dip-coatings (WLDDC) for the glass lampshade inner walls of LED lamp tubes, the effects of viscosities and viscous flow…

Abstract

Purpose

This paper aims to prepare good waterborne light-diffusion dip-coatings (WLDDC) for the glass lampshade inner walls of LED lamp tubes, the effects of viscosities and viscous flow activation energies on these dip-coatings were investigated.

Design/methodology/approach

The WLDDC were prepared using white pigments, light-diffusion agents, additives and an acrylic emulsion. The dip-coatings were characterized by Fourier transform infrared spectroscopy, scanning electron microscopy and a digital rotational viscometer, respectively. The effects of shear rates, temperatures and solids contents on the viscosities of the dip-coatings were studied. The viscous flow activation energies of these dip-coatings and the emulsion were calculated, compared and studied, respectively.

Findings

The results showed that the non-Newtonian behaviors of these dip-coatings were more prominent than that of the acrylic emulsion. When the temperature was maintained to be a constant and the shear rate was increased, the viscosity decreased and the shear stress increased. When the shear rate was maintained to be a constant, the viscosity decreased with increasing temperatures. The viscous flow activation energies of these dip-coatings decreased with the increasing shear rates. The higher solid contents of WLDDC were, the more its viscosity would decrease with the increasing shear rates, the more prominent its non-Newtonian behaviors would show.

Practical implications

A sample of good WLDDC with balanced properties was illustrated.

Originality/value

This investigation benefits to investigate waterborne environment-friendly dip-coatings for the inner glass walls of lamp tubes. This research provides an approach to optimize the viscosity parameters of light-diffusion dip-coatings.

Details

Pigment & Resin Technology, vol. 48 no. 5
Type: Research Article
ISSN: 0369-9420

Keywords

Article
Publication date: 23 November 2021

He Wan, Qiuping Peng and Xi Zhong

Noncontrolling large shareholders can reduce the agency problem of executives and can reduce the expropriation or tunneling behavior of controlling shareholders, thereby promoting…

Abstract

Purpose

Noncontrolling large shareholders can reduce the agency problem of executives and can reduce the expropriation or tunneling behavior of controlling shareholders, thereby promoting corporate innovation. However, too many noncontrolling large shareholders may also lead to excessive supervision, thereby inhibiting innovative activities that contribute to the long-term value of the firm. Research to date, however, has not examined the nonlinear impact of noncontrolling large shareholders on corporate innovation. Based on principal–agent theory and the too-much-of-a-good-thing (TMGT) effect, the authors discuss the inverted U-shaped influence of noncontrolling large shareholders on corporate innovation and the moderating effect of industry competition and corporate product diversification on the above relationship.

Design/methodology/approach

Based on the empirical data of Chinese listed companies from 2003 to 2017, the authors use the bidirectional fixed effects model to conduct empirical testing and robustness testing of the research hypotheses.

Findings

There is an inverted U-shaped relationship between noncontrolling large shareholders and corporate innovation; type I and type II agency costs play a mediating role between noncontrolling large shareholders and corporate innovation. In addition, firm product diversification weakens the inverted U-shaped relationship between noncontrolling large shareholders and corporate innovation, but industry competition has no significant moderating effect on the above relationship.

Practical implications

This research has important implications for policy makers, to better activate corporate innovation vitality, and investors, to better choose investment targets. Specifically, investors and policy makers should be aware that an appropriate increase in larger noncontrolling shareholders can maximize the enthusiasm of firms for innovation and enhance corporate value, but they should also realize that having too many noncontrolling large shareholders may backfire.

Originality/value

This research helps the authors to understand the pros and cons of increasing the number of noncontrolling large shareholders more comprehensively and also helps to understand corporate innovation more comprehensively from a supervisory perspective. In addition, this research also enhances the explanatory and predictive power of the TMGT effect.

Details

European Journal of Innovation Management, vol. 26 no. 3
Type: Research Article
ISSN: 1460-1060

Keywords

Book part
Publication date: 12 September 2022

Bill B. Francis, Iftekhar Hasan and Gokhan Yilmaz

This chapter investigates whether core competence of managers and their expansive (vs. specialized) managerial style affects firms' innovative ability, capacity, and efficiency…

Abstract

This chapter investigates whether core competence of managers and their expansive (vs. specialized) managerial style affects firms' innovative ability, capacity, and efficiency. Using exogenous CEO departures as a natural experiment, it establishes a causal link between managerial capability and innovation. Importantly, it reveals that firms with talented managers receive significantly more nonself citations; make significantly lower self-citations and lesser citations to the others, indicating novel and explorative innovation achievements. Also, managers with higher general (specialized) ability are cited more (less) by patents from a wider range of fields. Lastly, career concern is identified as a mechanism linking higher ability and innovation.

Details

Empirical Research in Banking and Corporate Finance
Type: Book
ISBN: 978-1-78973-397-6

Keywords

Article
Publication date: 2 May 2018

Jiuli Yin, Lishuang Bian, Qin Fan, Xinghua Fan, Huaqiang Ai and Lixin Tian

This paper aims to study the oscillation phenomenon before chaos as well as its mechanism of occurrence in the energy-saving and emission-reduction system.

Abstract

Purpose

This paper aims to study the oscillation phenomenon before chaos as well as its mechanism of occurrence in the energy-saving and emission-reduction system.

Design/methodology/approach

The system dynamics analysis, phase portrait analyses, equilibrium point analysis and bifurcation curve were applied to this paper.

Findings

First, the authors find an oscillation phenomenon previous to chaos. Second, on the one hand, the existence of two unstable saddles is the reason for the occurrence of oscillation phenomenon. On the other hand, the increasing of carbon emissions can arouse oscillation phenomenon.

Originality/value

This paper finds an oscillation phenomenon previous to chaos in the energy-saving and emission-reduction system. The mechanism of occurrence of oscillation phenomenon is studied. The existence of two unstable saddles is the reason for the occurrence of such oscillation phenomenon. The oscillation is related with fold bifurcation. The study also provides a theoretical basis for the further study of chaos control.

Book part
Publication date: 12 September 2022

Johan Maharjan, Suresh B. Mani, Zenu Sharma and An Yan

The paper investigates whether stock liquidity of firms is valued by lending banks revealing that firms with higher liquidity in the capital market pay lower spreads for the loans…

Abstract

The paper investigates whether stock liquidity of firms is valued by lending banks revealing that firms with higher liquidity in the capital market pay lower spreads for the loans they obtain. This relationship is causal as evidenced by using the decimalization of tick size as an exogenous shock-to-stock liquidity in a difference-in-differences setting. Reduction in financial constraint and improvement in corporate governance induced by higher stock liquidity are potential mechanisms through which liquidity impacts loan spreads. These higher liquidity firms also receive less stringent nonprice loan terms, for example, longer loan maturity and less required collateral.

Details

Empirical Research in Banking and Corporate Finance
Type: Book
ISBN: 978-1-78973-397-6

Keywords

Article
Publication date: 5 June 2023

Antonios Georgopoulos, Eleftherios Aggelopoulos, Elen Paraskevi Paraschi and Maria Kalogera

This paper aims to examine the effect of R&D laboratories on the perceived performance of MNE subsidiaries during recession.

Abstract

Purpose

This paper aims to examine the effect of R&D laboratories on the perceived performance of MNE subsidiaries during recession.

Design/methodology/approach

Employing resource-based view and knowledge-based theory, the authors investigate a unique sample of 171 technologically heterogenous foreign MNE subsidiaries located in Greece over the period of recession 2009–2016. The sample subsidiaries operate different types of R&D laboratories.

Findings

The authors find that MNE subsidiaries with advanced R&D laboratories such as locally integrated laboratories (LILs) and internationally interdependent laboratories (IILs) perform better in recession than subsidiaries with support laboratories (SLs) or subsidiaries without R&D laboratories. Overall, the authors find an asymmetric performance contribution of R&D laboratories at subsidiary level.

Originality/value

The study provides useful insights into the environmentally derived “knowledge-based - performance” context, so filling an important research gap, since little is known about the performance impact of the input-side of technological activity at MNE subsidiary level, especially as regards R&D facilities/infrastructure. Based on the findings the authors identify important managerial implications.

Details

EuroMed Journal of Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1450-2194

Keywords

Open Access
Article
Publication date: 15 August 2022

Zhuo (June) Cheng and Jing (Bob) Fang

This study examines the effect of stock liquidity on the magnitude of the accrual anomaly.

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Abstract

Purpose

This study examines the effect of stock liquidity on the magnitude of the accrual anomaly.

Design/methodology/approach

This paper examines the relation—both time-series and cross-sectional—between stock liquidity and the magnitude of the accrual anomaly and use the 2001 minimum tick size decimalization as a quasi-experiment to establish causality.

Findings

There is both cross-sectional and time-series evidence that stock liquidity is negatively related to the magnitude of the accrual anomaly. Moreover, the extent to which investors overestimate the persistence of accruals decreases with stock liquidity. Results from a difference-in-differences analysis conducted using the 2001 minimum tick size decimalization as a quasi-experiment suggest that the effect of stock liquidity on the accrual anomaly is causal. The findings of this study are consistent with the enhancing effect of stock liquidity on pricing efficiency.

Originality/value

The study's findings are well aligned with the mispricing-based explanation for the accrual anomaly, suggesting that the improvement in market-wide stock liquidity drives the contemporaneous decline in the magnitude of the accrual anomaly, at least to a great extent.

Details

China Accounting and Finance Review, vol. 25 no. 1
Type: Research Article
ISSN: 1029-807X

Keywords

Article
Publication date: 6 June 2016

Dan Huang, Dong Lu and Jin-hui Luo

The purpose of this paper is to examine whether and how the extent of religion in a firm’s social environment affects corporate innovation and innovation efficiency from the…

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Abstract

Purpose

The purpose of this paper is to examine whether and how the extent of religion in a firm’s social environment affects corporate innovation and innovation efficiency from the perspectives of religion-related risk aversion and religion-based social norms.

Design/methodology/approach

Using a sample of 8,601 Chinese firm-year observations from 2007 to 2012, this paper examines the relationship between religion and innovation intensity, as well as innovation efficiency. A battery of checks, that is, adopting Heckman selection model, using a province-level measure of religiosity and an alternative measure of innovation intensity, and taking the stochastic frontier analysis method to capture corporate innovation efficiency, are conducted to alleviate the concern of self-selection and to guarantee the robustness of the findings of this paper.

Findings

This paper finds strong evidence that firms registered in more religious regions, that is, regions with more Buddhist monasteries within a certain radius, undertake fewer innovation activities as measured by the ratio of R&D investment over total sales income but achieve higher innovation efficiency reflected by the value-relevance of R&D investment.

Originality/value

This paper complements the existing literature by suggesting that religion can serve as an informal social mechanism and performs a “less is more” effect in disciplining corporate innovation activities.

Details

Nankai Business Review International, vol. 7 no. 2
Type: Research Article
ISSN: 2040-8749

Keywords

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