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This paper aims to illustrate the trends of income growth and income inequality and examines the dynamics and determinants of income mobility in rural China from 2003 to 2006.

The authors decomposed the Gini coefficient by different sources and analyzed income mobility using the method of income transition matrix. The authors then estimated the effects of demographic variables, labor migration, and other household characteristics on income growth using a dynamic panel data model.

The study obtained important findings on income mobility and income inequality in rural China. First, annual income inequality in rural China was smoothed during this period after a decline from 2003, with the largest contribution from the income of migration work. Second, income mobility remained rather stable and relatively high, with higher mobility in the interior provinces than in the coastal provinces. Third, the income levels of the poor and the wealthy households converged during this period after controlling other factors. Fourth, income growth depends on in the households' demographic composition, their human capital accumulation, and their chances of getting migration jobs.

The sound econometric methods applied to the most current rural household survey data provide important contributions to the literature of income inequality and income mobility in China.

Based on the perspective of cognitive psychology, this paper takes the M&A events of Chinese A-share listed enterprises from 2008 to 2015 as the research samples, and then empirically analyzes the influence of managerial overconfidence on M&A premium under the special circumstances in China and tests the moderating effect of debt capacity between managerial overconfidence and M&A premium.

This paper selects the M&A events of all A-share listed enterprises from 2008 to 2015 as the total samples. In view of the fact that the data in this paper are unbalanced panel data, so this paper uses the LR test, LR test and Hausman test to filter the mixed OLS model, fixed effect model and random effect model. Finally, using the random effect model for empirical testing reduces the endogeneity of the model.

The study shows that managerial overconfidence is positively correlated with M&A premium; at the same time, compared with the state-owned enterprises, the relationship between managerial overconfidence and M&A premium is more significant in private enterprises. Further study shows that debt capacity can strengthen the relationship between managerial overconfidence and M&A premium, to be specific, the larger the debt capacity is, the stronger the positive relationship between managerial overconfidence and M&A premium will be. Moreover, after considering the influence of agency cost and financing expense, and conducting endogenous test and robust test, this research’s conclusions remain the same.

This research also has some limitations. Some M&A announcements are incomplete, and the target has more information missing, resulting in a decrease in the number of samples, which may affect the accuracy of the conclusions. This paper does not address the research of the economic consequences of M&A, namely, the impact of managerial overconfidence and debt capacity on M&A performance. This is one of the future research directions for this paper.

The conclusions of this paper provide new theory evidence for Chinese enterprises' M&A decision-making.

First, enterprises should gradually improve corporate governance structure and governance mechanisms to guide more stakeholders to participate in corporate governance, and also they should strengthen the pre-evaluation, in-process control and post-supervision of managers' behavioral decisions to prevent irrational M&A caused by managerial overconfidence. Especially in private enterprises, this issue should be paid more attention. Second, enterprises should make full use of the debt governance function of creditors and improve the creditors' supervision mechanism for managers' decision-making behavior.

The innovation value and increment contribution of this paper may include the following aspects: the conclusions of this paper expand the research boundary of the relationship between managerial overconfidence and M&A premium, and enrich related literature about debt capacity and the influence of debt capacity on M&A decision-making, and also provide new theory evidence for Chinese enterprises' M&A decision-making. In a word, this research is a beneficial supplement and extension for existing research.

The research aims to explore the interaction effect of consumer social class and service type on consumers' preference for robot services, as well as the mediating role of risk aversion in this interaction effect.

Experiment 1 is a field experiment with service type being the independent variable. The participants were divided into two groups based on the services they received (diagnostic dental services vs. hotel room services). 93 consumers participated voluntarily in the blind experiment and were asked if they would choose to allow a robot to perform the focal services. Experiment 2 employs a 2 × 2 factorial design: personal fitness trainer services at the gym vs wait staff services in a casual dining restaurant × higher- vs lower-social class, with 196 participants.

Results from the two experiments show that participants in the higher-social classes were more willing than participants in the lower-social classes to choose robot services in credence-based service settings. More significantly, risk aversion mediated the interaction effect of social class and service type on participants' preference for robot services.

Based on the credence-experience typology, this research is the first to discuss the weight of social class in consumer decision-making regarding preference for different types of robot services. Furthermore, by extending risk aversion to the robot services field, the current research sheds new light on this underlying mechanism that can inform future studies.

This study aims to empirically investigate how the interaction effect of occasion-setting cues and consumers’ cognitive styles (e.g. field dependence levels) influences their food intake intention.

In this research, several scenario simulation studies were conducted to verify the hypotheses. A total of 646 participants were recruited for the experiments, and samples were obtained through well-established online research platforms.

In the occasion-setting cue advertisement condition, field-dependent (vs field-independent) consumers displayed increased cravings for food and purchase intention, with mental simulation playing a mediating role and cognitive load playing a moderating role.

The influence of others (e.g. servers and other consumers) was not taken into consideration in this study. Future research can extend this study by conducting field experiments.

The research conclusions can help various organisations reduce consumers’ food overconsumption intention and encourage healthier food choices by adjusting occasion-setting cues in marketing stimuli and identifying the target consumers’ cognitive styles.

Based on embodied cognition theory, this study reveals the influence and internal mechanism of the interaction effect between occasion-setting cues and individual cognitive style on eating desire.