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Integrating the pathway model of meaningful work and the intrinsic motivation principle of creativity, the authors investigate why, when and how paternalistic leadership relates to employee creativity in the Chinese organizational context. The authors suggest that the meaning of work (MOW) mediates the relationship between paternalistic leadership and employee creativity. The authors further identify perspective taking as a moderator in the mediated relationship for the path from MOW to creativity.

The authors relied on a sample of 340 employee-supervisor dyads collected from multiple organizations located in Eastern China to test the study hypotheses.

Results indicated that MOW mediated the positive relationships between the benevolence and morality dimensions of paternalistic leadership and employee creativity, and the negative relationship between the authoritarianism dimension of paternalistic leadership and employee creativity. Further, the indirect relationships between the three dimensions of paternalistic leadership (i.e. authoritarianism, benevolence and morality) and employee creativity through MOW were more pronounced when perspective taking was higher rather than lower.

Through a meaning-based perspective, the authors demonstrate that a culture-specific managerial philosophy (i.e. paternalistic leadership) shapes Chinese employees' perceptions of meaningful work and their subsequent creative performance. This paper complements the dominant focus on Western leadership in the creativity literature and denotes that paternalistic leadership matters for employee creativity in Chinese organizations.

The last decade witnessed the reform of China's financial sector, during which Chinese commercial banks’ ownership and operation had been significantly changed in order to improve efficiency. The purpose of this paper is to investigates whether these banks have improved their productivity efficiency during their rapid expansion and growth in the post reform era from 2004 to 2011.

Data envelopment analysis is used to investigate the production efficiency of Chinese commercial banks during 2004-2011. First, the technical efficiency (TE) score is constructed to evaluate bank productivity. The TE score is disintegrated into pure technical efficiency (PTE) and scale efficiency (SE) to examine the effects of technical factors and scale economies. Second, the Malmquist index is constructed to explore the year-by-year productivity. Lastly, regression analysis examines how bank characteristics and ownership structure affect productivity efficiency.

The Big Four banks are less efficient than other commercial banks, and public banks are less efficient than private banks. The low efficiency is primarily due to scale inefficiency, rather than PTE. In addition, ownership structure impacts production efficiency. Specifically, foreign ownership is related to high efficiency while state ownership is associated with lower productivity.

There were small observations of public banks in China. Thus, a more comprehensive test is impractical to explore whether or not annual changes in ownership structure improve their production efficiency. With more date, such a test will reveal further information about the relationship between ownership and productivity.

The authors are the first to assess the production efficiency of Chinese commercial banks after the recent financial reform during which Chinese commercial banks had undergone significant structural changes. The lower overall productivity of Big Four and public banks is a result of scale inefficiency, although these banks are better than their peers with respect to input-output transformation.

Initial public offering (IPO) underpricing remains a puzzle after decades of investigation. The stock markets in emerging economies are attractive to international investors but their unique characteristics need to be examined. Chinese stock markets experienced much more significant IPO underpricing than most other stock markets in the world. This paper offers a two-period wealth maximum model to explain the strategic IPO underpricing by state owners. Given the fact that the entire IPO procedure, including IPO price, is regulated and controlled by state owners, we argue that state owners strategically underprice the IPO, because they care less about the IPO proceeds but more about the wealth gain after IPO. The empirical finding of a positive relationship between IPO underpricing and state ownership in Chinese stock market is consistent with the wealth maximization hypothesis of IPO pricing. The paper offers better understanding for IPO procedure of state-owned enterprises in emerging markets.

In a fundamental sense, creation of value is the purpose of a firm. Values – measured by profits, cash flows, stock prices, or some strategic objectives – are the ultimate reasons why a firm exists. The ongoing and ever-expanding discussion of globalization, whether based on trade flows or financial flows, draws attention to the value of multinational enterprise. Existing empirical work on the impact of multinational firms, however, is inconclusive. Some observers point to the valuation discount with international operations due to the costs of agency and control and the difficulty of coordinating complex organizations and cultures. Others emphasize the value of a multinational network and the operational efficiency of a multinational enterprise (MNE). Thus, issues related to value creation are important and lively areas of business and finance. In fact, value creation is now at the frontier between the functional areas of finance and strategy. In international finance, the topic also interacts with economics in the areas of strategic trade policy and exchange rate behavior, as well as business strategy, as it relates to the management of an MNE. The role of government policy is also part of the debate, because the importance of public policy and the behavior of policymakers are elevated when finance and business become international, as evidenced by consistent attention to political risk.

The purpose of this paper is to investigate the dynamic forming process of the micro dent fabricated by laser shock processing on 2024-T3 aluminum alloy. The effect of laser pluse energy on the deformation of micro dent was also discussed in detail.

It uses finite element analysis method and the corresponding laser shocking experiment.

The results demonstrate that the dynamic formation process of micro dent lasts longer in comparison with the shock wave loading time, and the depths of micro dents increase with the increasing laser energy. In addition, laser shocking with higher energy can result in more obvious pileup occurred at the outer edge of micro dent.

Surface micro dents can serve as fluid reservoirs and traps of the wear debris, which can decrease the effects of the wear and friction in rolling and sliding interfaces. The investigations can not only be propitious to comprehensively understand the forming mechanism of laser-shocked dent, but also be beneficial to get sight into the residual stress field induced by laser shocking.

A growing number of studies have become focused on managing conflict more effectively and comprehensively in the construction industry. However, little research has aimed to operationalize all the facets related to the quality of conflict management that are necessary in governing conflict management. The purpose of this article is to propose a new model measuring the quality of conflict management in a construction project context that is not only inclusive but also practical.

To address this research gap, the authors used the measurement theory to investigate a series of studies, and then, developed a scale to operationalize the concept of quality of conflict management in a project context.

The findings show five dimensions to the quality of conflict management: satisfactory resolution outcome, integrated resolution process, conflict prevention, fairness perception, and post-conflict effect.

The research findings contribute to conflict management theory by providing the conceptualization and operationalization of conflict management quality. Practitioners will benefit from this article by understanding effective and efficient ways of managing conflicts in construction projects.

The purpose of this paper is to analyze the effects of the PRD geometric parameters, including the area and aspect ratio, on the discharge and force characteristics of pressure relief process under various plenum compartment pressures and Mach numbers.

Under various plenum compartment pressures and Mach numbers, the effect of the area and aspect ratio on the discharge and force characteristics of the PRD are numerically investigated via a three-dimensional steady Reynolds-averaged Navier–Stokes equations solver based on structured grid technology.

When the aspect ratio remains constant, the discharge coefficient C_D, thrust coefficient C_T and moment coefficient C_M are not affected by the PRD. When the area is constant, the aspect ratio dramatically impacts the discharge and force characteristics because the aspect ratio increases, the discharge coefficient C_D of the PRD decreases, and the thrust coefficient C_T and the moment coefficient C_M both increase. When the aspect ratio is 2, the discharge coefficient C_D decreases by 14.7 per cent, the thrust coefficient C_T increases by 10-15 per cent, and the moment coefficient C_M increases by 10-23 per cent compared with when the aspect ratio is 1.

This study provides detailed data and conclusions for nacelle PRD researchers and actual engineering applications.

On the basis of considering the influence of operating conditions on the discharge and force characteristics of the nacelle PRD, the impact of geometric parameters, including the area and aspect ratio on the discharge and force characteristics is comprehensively considered.

The purpose of this paper is to empirically investigate universal banks as an important source of external funding and their effects on borrowing firms’ innovation outputs.

The authors employ regression analyses including a difference-in-difference approach and a two-sided matching method to ensure the robustness of the findings. The authors further explore some potential channels and boundary conditions for the main findings.

The authors find that borrowing from universal banks is negatively associated with the quantity of firm innovation, but not the quality of firm innovation. The authors document that borrowing firms reduce their R&D expenditures and rely more on external partners to produce innovation outputs after loan originations from universal banks. The negative relation between universal bank lending and the quantity of firm innovation is more prominent for unrelated innovation and for financially constrained firms.

The evidence reveals that universal banks may use their informational advantage and market power to limit their corporate borrowers’ investment in innovation activities.

The paper extends the line of research on the source of financing and firm innovation, and establishes a robust relationship between capital market and product market.

The paper provides an overview of material helpful in placing the subsequent papers in context, as well as a summary of the research contributions made by the individual papers themselves.

We begin with a timeline of China’s Economic Reform, including both major events that permitted the opening and expansion of the nation’s economy, and important milestones of the historical movement. We then consider the impact of philosophy and culture (particularly, Confucianism and socialism) on China’s society and government, which leads naturally to certain observations regarding the political-economic model in which state-owned enterprises play a central role. In the final section, we briefly summarize the contents of the remaining papers.

The prospect theory is potentially an essential ingredient in modeling the disposition effect. However, many scholars have tried to explain the disposition effect with the help of prospect theory and they came to opposite conclusions. The purpose of this paper is to examine the impact of value function of the prospect theory on predicting the disposition effect.

Lagrange multiplier optimization and dynamic programming method are used to solve the representative investor’s optimal portfolio choice problem. Furthermore, numerical simulation is used to compare the prediction ability of different types of value function.

The authors support that the value function has a crucial role in predicting the disposition effect with prospect theory, i.e. the curvature and boundedness of the value function may influence the performance of applying the prospect theory in the disposition effect. They conclude that a piecewise negative exponential value function can predict the disposition effect, while others like the piecewise power value function may not.

Extant literature about modeling the disposition effect with the prospect theory mostly focus on the time when gain-loss utility occurs or the selection of reference point. This paper based on the value function properties provides a new perspective in analyzing the crucial role that value function has in predicting financial market anomalies.