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In this paper, the authors take the central environmental protection inspection (CEPI) as an exogenous shock to study the reaction of the stock market in China. Using the event study method, the authors check how the first round of the first batch of CEPI supervision affects the cumulative abnormal return (CAR) of the listed firms on the Shenzhen or Shanghai stock exchange. This paper aims to discuss the aforementioned objective.

In this paper, the authors take the first round of the first batch of CEPI supervision as a clean exogenous shock to study its effects on the capital market. The authors collect daily trading data from the China stock market and accounting research (CSMAR) database, with the sample containing 1,950 Chinese firms listed on either the Shenzhen or Shanghai stock exchanges. And detailed information on CEPI supervision is obtained from the official website of the Ministry of Ecology and Environment of the People's Republic of China. The event study method is adopted to analyze the reaction of the stock market under CEPI supervision. Specifically, the authors constructed the cumulative abnormal return of each firm around the event day of CEPI. To capture the deterrent effects of CEPI supervision, the authors examine the situation of polluting and non-polluting firms in the supervised provinces, adjacent provinces and provinces that are not supervised or close to the supervised provinces, respectively.

This paper throws light on the following: (1) the polluting firms in the supervised provinces were negatively impacted by CEPI within 20 trading days of the event day, and its effects spread to the polluting firms in the neighboring provinces; (2) CEPI had a favorable impact on the non-polluting businesses in the provinces that are neither supervised nor close to the supervised provinces. The authors contend that it is because the investment is being forced out of the polluting sector and into the non-polluting sector, which is more pronounced in the provinces not directly or indirectly targeted by CEPI; (3) by comparison, the “looking back monitoring of the first round” has had no discernible detrimental impact on the firms' CAR, indicating an important role of psychology anticipation of investors in the stock market performance; (4) although not physically located in the supervised provinces, the downstream enterprises of the polluting firms suffer significantly from CEPI shock; (5) the effectiveness of CEPI supervision in the supervised provinces depends on the level of local environmental regulation and the ownership structure of the company. Private firms in the provinces with stronger environmental regulations suffer more from the CEPI shock; (6) the multivariate analysis shows that while enterprises with high ROE and financial leverage may be at risk of CAR loss, older, larger firms are less likely to experience CEPI shock; (7) the study of persistent effect reveals that the strike of CEPI supervision can last for at least 10 months after the event day and deterrent effect can be spread within the whole polluting industry.

In this paper, the authors only concentrate on the market reaction within 20 trading days after the event day. An analysis of long-term effects should be valuable to get a deeper knowledge of the capital market reaction to the CEPI policy. In addition, the paper only focuses on the first round of the first batch of CEPI. Since CEPI has been built as a constant regulation of local environmental performance, further study may need to track both the reaction of listed firms and investment behavior in the capital market.

Policy implications of the paper are as follows: First, for the policymakers, it is important to construct a constant environmental regulation system instead of a campaign movement. Second, for investors, as environmental issues are receiving increasing attention from both the government and the public, investment decisions should take into account firms' environmental performance, which can help reduce the risk from environmental regulations. Third, the firms in the polluting industry should take more action to reduce pollutant releases and adopt green technology, which is essential for sustainable development under environmental protection.

This paper contributes to the existing literature in the following aspects. First, the authors provide new evidence on the effects of environmental regulations as a shock to the stock market, which has been wildly concentrated in the literature about environmental policies evaluation and capital market reaction. Second, the authors supplement the literature on green finance and sustainability transformation, which has got increasing attention in recent years. Theoretically, by guiding investment and affecting the stock market performance, environmental regulations are considered to be an efficient way to stimulate polluting firms to transform into green development. The results of the paper support this intuition by showing that the CAR of the non-polluting firms in non-supervised provinces in fact benefit from the CEPI supervision.

Drawing on signaling theory and the “signal transmission–interpretation–feedback” framework, this study explores the effects of perceived distributive justice and respect from managers on nurses' work meaningfulness and work effort in public hospitals in China and examines the moderating role of work self-efficacy.

We collected 341 paired questionnaires for nurses and managers from four public hospitals in China. The data were analyzed by structural equation modeling and hierarchical regression analysis.

Distributive justice and managers' respect for employees are positively related to work meaningfulness. Additionally, work self-efficacy negatively moderates this relationship. Work meaningfulness is positively related to work effort and fully mediates the relationships between perceived distributive justice and respect from the manager and work effort.

This study provides useful insights for healthcare organizations to improve nurses' work meaningfulness from the perspectives of their material and emotional needs, according to their work self-efficacy characteristics, thus promoting their work effort. The findings offer important guidance for improving the effectiveness of grass-roots human resources to cope with unpredictable situations such as the COVID-19 pandemic.

This study focuses on the organization's environmental factors that affect the primary staff's work meaningfulness. Further, it analyzes the differences in signal interpretation among nurses with different work self-efficacy characteristics, thus providing new insights into work meaningfulness. Through manager–nurse pairing data, it reveals the important role of work meaningfulness in motivating work effort.

When processing 11Cr-3Co-3W martensitic heat-resistant steel, the traditional pouring cooling method often appears large cutting force, high cutting temperature, serious tool wear and poor surface quality. This paper aims to use new cooling methods for processing this problem.

Different performance indicators such as cutting force, tool wear and surface quality were measured and analysed under different continuous milling times. The relationship between liquid nitrogen flow and cutting force and surface roughness was analysed and measured.

The results show that with the increase of liquid nitrogen flow, the cutting force decreases, especially the Fx component, which decreases by 10%. When the liquid nitrogen flow reaches 8 L/min, the effect of increasing the liquid nitrogen flow on reducing the cutting force becomes smaller. The cutting force reduced by up to 15%, and the tool life increased up to 20% using liquid nitrogen cryogenic cooling than in cutting liquids cooling. When minimal quantities of lubricant (MQL) was added, the cutting force was reduced by 23%, and the tool life increased by 25%. When the cutting speed increases from 100 m/min to 250 m/min, the cutting force with cutting liquid cooling does not change significantly while the cutting force with liquid nitrogen cooling decreases with the cutting speed increasing. It shows that liquid nitrogen cooling is more suitable for high-speed machining. After the cutting length reaches 66 m, the surface roughness of the workpiece using liquid nitrogen cooling method larger than that of the cutting liquid cooling method. When MQL is added into liquid nitrogen, the lubrication performance is improved, and the surface roughness of the workpiece is reduced about 8%.

Many studies had focused on the improvement of tool life and surface quality by different cooling methods, or on the injection process and chip mechanism. However, there are few relevant studies on the variation of cooling and lubrication properties with the change of cutting length in liquid nitrogen cryogenic processing. In this research, different performance indicators such as cutting force, tool wear and surface quality were measured and analysed under different continuous milling times. The relationship between liquid nitrogen flow and cutting force and surface roughness was analysed and measured.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-03-2023-0053/

Drawing on social exchange theory, this study aims to investigate the reciprocal relationship between an employee’s knowledge sharing and his or her coworkers’ responses to this focal contributor in terms of knowledge sharing and helping behaviors.

A two-wave online survey collected data from 84 respondents who provided ratings on each member on their team, representing 440 dyadic relationships. Hierarchical linear modeling analyzed the between-subjects and within-subject data simultaneously.

Employees generally reciprocate contributors’ knowledge sharing with an exact act (i.e. knowledge sharing) through the mechanism of peer respect. However, respect generated by knowledge sharing is enhanced only when the knowledge contributor is competent.

Research on how an employee’s knowledge sharing actually influences other members of a team is lacking. This study addresses this gap by examining responses to a team member’s knowledge sharing from a peer’s perspective. It also reveals when knowledge sharing is more pronounced in earning peer respect.

The increasing popularity of ERP solutions has provided dietary supplement manufacturing companies with modules to manage pricing and inventory. However, the decisions made by these modules are often independent and rely on deterministic forecasts. This paper studies a multi-product dietary supplement manufacturing system under stochastic demands. The purpose is to maximize the long-run expected profit by jointly considering pricing and inventory strategies.

The authors investigate both the general cases and three special cases including stable demand, negligible backlog and instantaneous replenishment. A two-stage algorithm named PAS is proposed. In the strategy construction stage, the constructed objective bounds are combined to provide estimates which then help to derive the optimal product prices. In the system operation stage, replenishment decisions are further made based on the prices generated from the previous stage.

It is proved that base-stock policy is optimal for the studied system, and the optimal based-stock level is provided. The global optimal strategies are obtained for three important special cases. For the general case, theoretical objective bounds are established. These bounds provide quick and reliable performance estimates for practical applications.

Very few studies have jointly considered pricing and inventory strategies with uncertainty demands in the dietary supplement industry. The PAS algorithm developed integrates these decisions and consistently generates high-quality solutions even under highly varying demands. Such algorithm could be a valuable add-on to the pricing and inventory management modules in ERP systems.

This study aims to develop a moderated mediation model to explain the practices of supply base management and how they can achieve innovation performance, and the authors explore the boundary conditions of this implementation mechanism.

The authors used the bootstrap procedure to conduct empirical tests on 328 Chinese manufacturers to verify the proposed model.

The results showed that supplier innovation focus, supply-base structuring and long-term relationship focus have a positive impact on innovation performance through supplier innovativeness, and the mediation performs differently under technology and demand uncertainty.

The authors only focused on innovation performance, and it does not explore the links between supply base management and other performance outcomes. This study involves part of the supply network which is easier to manage, i.e. supply base. The authors ignored the importance of other members in supply network. Finally, the data obtained in this study belong to the cross-sectional data during the same period but it accomplishes the research aim well.

The focal firm needs to improve their supply base composition, establish permeable organizational boundaries, and build long-term strategic partnerships characterized by equality and trust with suppliers to stimulate supply base members to make innovative contributions.

This study complements the implementation path of manufacturers around innovation, emphasizing multidimensional characteristics of supply base management. And this study clarifies the mechanism and boundary conditions between supply base management and innovation performance.

Viewing the domestic downside risk as a “pushing” factor for outward foreign direct investment (OFDI), this study aims to examine the surge in Chinese cross-border acquisitions (CBAs) between 2008 and 2017, a unique window when private firms in China were allowed to conduct CBAs.

This study examines the effect of down-side risk on cross-border acquisition performance by using the sample of Chinese A-share listed companies from 2008 to 2017. Specifically, this study considers three kinds of systemic risk, systematic risk and idiosyncratic risk, and respectively examines their impact on CBAs activities; this study also investigates their subsequent results after CBAs activities. The contingency effect of state ownership on the above relationship is also discussed.

The findings reveal that pre-CBA systemic risk explains the volume of CBA activities; CBAs are followed by a reduction in systemic risk; the interactions between systemic risk and CBAs decrease with the level of state ownership; and the above results do not hold for traditional risk measures (i.e. systematic risk and idiosyncratic risk).

This study contributes to the literature by revealing the role of systemic risk as a “pushing” factor in the context of OFDI and suggesting an alternative explanation for CBAs from China: Chinese firms (especially private firms) took advantage of the rare opportunity between 2008 and 2017 given by the government to transfer assets overseas through CBA.

This study aims to explore differences in the usability of the Google Drive application based on demographic characteristics, computer skills and use frequency of Google Drive among public library users of Lahore.

The study adopted a quantitative approach and survey-based research method to achieve the study's objectives. The cloud usability model (user perspective) has been used as a theoretical lens to guide the study objectives. It comprises five dimensions of usability – capable, personal, reliable, valuable and secure.

The findings of the study revealed that the usability of Google Drive varied statistically significantly on the basis of depending on the respondents gender, age, academic qualification, computer skills and Google Drive use frequency.

It is a valuable study since it and adds knowledge to existing literature and has implications for practice.

The findings might be helpful for cloud support teams including Google Drive as they can notice the demographic and other differences among users' perceived usability of Google Drive and can enhance certain features of usability which leads attributes to increase its usage among users.

The purpose of the study is to propose a new perspective to explain how China's rapid growth in patenting is partially driven by corporate strategic patenting to influence local governments. The authors highlight the role of strategic patenting and local government-business relations in creating the gap between the patent boom and underlying technological progress in China.

The authors investigate the relationship between local government-business relations and corporate strategic patenting behaviors, measured as a higher ratio of patent filings to patent awards, by collecting data from three successive NADS surveys of government-business relations in 292 Chinese municipalities, paired with detailed patenting and subsidy data of 3,756 publicly listed corporations obtained through text mining.

The authors find that, while R&D investment and patent subsidies do drive corporate patenting, firms in jurisdictions with lower-quality government-business relations are more likely to engage in strategic patenting. Moreover, the negative impact of government-business relations on strategic patenting is moderated by political connections, as the strategic patenting of firms without political connections is more sensitive to government-business relations. The authors further show that firms obtain significant benefits from patenting in the form of additional subsidies from local innovation and industrial policies in the years following.

Rolling back patent subsidies will reduce strategic patenting to a limited extent. The local governments in emerging markets need to increase the capacity to implement industrial policy and provide market-based opportunities for firms to access innovation inputs.

The authors provide an updated and fresh perspective to understand the phenomenon of China's patent boom by showing that patenting can be driven by corporate strategies to adapt to local institutions and influence government policy. The authors extend the analysis of strategic patenting to emerging markets.

This paper aims to investigate the influence of the regional business environment on local firm innovation, considering various dimensions such as administrative, financial and legal environments.

Multiple regression analysis is employed to analyze archival data for firms listed on Chinese stock markets.

We find that the optimizations of the administrative and financial environments positively affect firm innovation, whereas the legal environment does not exert a similar impact. Our analysis also reveals that the business environment’s optimization significantly influences innovation in firms that are small, non-state-owned and operating in high-tech industries. Furthermore, the business environment acts as a moderating variable in the relationship between firm innovation and firm value.

This study contributes to a more comprehensive understanding of institutional-level determinants of firm innovation, highlighting the nuances of the legal environment and the importance of context-specific analysis, especially in emerging markets like China.

Developing countries can significantly enhance firm innovation by improving the business environment, including the optimization of administrative and financial systems, reducing transaction costs and ensuring capital supply. Tailored legal frameworks and alternative institutional strategies may also be explored.

This study explicitly emphasizes the governmental role in promoting firm innovation, shedding light on policy formulation and strategic alignment with local administrative policies.

To the best of our knowledge, this paper is the first to explore the relationship between the business environment and firm innovation using World Bank indicators in an emerging market context, providing novel insights into the unique dynamics of legal, financial and administrative sub-environments.