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The purpose of this paper is to construct an index for systemic risk in China.

This paper develops a systemic risk index for China (SRIC) using textual information from 26 leading newspapers in China. Our index measures the systematic risk from 21 topics relating to China’s economy and provides narratives of the sources of systemic risk.

SRIC effectively predicts changes in GDP, aggregate financing to the real economy and the purchasing managers’ index. Moreover, SRIC explains several other commonly used macroeconomic indicators. Our risk measure provides a helpful monitoring tool for policymakers to manage systemic risk.

The paper construct an index of systemic risk based on the information extracted from newspaper articles. This approach is new to the literature.

The purpose of this study is to examine the effects of the coronavirus disease 2019 (COVID-19) pandemic on sovereign credit default swap (CDS) spreads using a large sample of countries.

In this paper, the authors use a wide set of the sovereign CDS data of 78 countries. To measure the magnitude of the COVID-19 pandemic, the authors use the daily change of confirmed cases collected from Our World in Data. They use panel regressions to estimate the impact of the COVID-19 pandemic on sovereign credit risk.

The authors show how sovereign CDS spreads have widened significantly in response to the COVID-19 pandemic. Based on the most conservative estimate, a 1% increase in COVID-19 infections leads to a 0.17% increase in sovereign CDS spreads. Furthermore, this effect is stronger for developing countries and countries with worse healthcare systems. Government policies partially offset the impact of the COVID-19 pandemic, although these same policies also lead to widening sovereign CDS spreads. Sovereign CDS spreads narrow dramatically several months after the outbreak of the COVID-19 pandemic. Overall, the results suggest that the ongoing COVID-19 pandemic has been a massive shock to the global financial stability.

This paper provides new evidence that COVID-19 widens sovereign CDS spreads. The authors further show that this widening effect is felt most strongly in developing economies.

This paper aims to answer three questions: (1) Which countries invest more capital in green firms? (2) What kind of industries do venture capitals (VCs) invest in? (3) Do VCs invest more capital in green firms?

First, the authors provide summary statistics of the key variables for green and non-green firms. Then the authors use figures to plot the growth of green firms over time. Next, the authors use descriptive data to study VC-invested firms for the top 10 countries and industries for all firms, green firms and non-green firms. Finally, the authors compare the VC investors' characteristics and investment behavior between green and non-green firms.

This study documents that venture-backed investments in clean technologies have increased dramatically in the number of deals and in the total amount of dollar volume over time. This paper provides evidence that VC firms invest more in green firms in each deal than in non-green firms. The United States and European countries play an important role in funding clean technologies across countries, and this study’s results suggest that VC investors play a considerable role in shaping the development of green finance.

This paper makes the first attempt to investigate the role of VCs in clean technologies to support carbon neutrality, providing initial evidence on venture capitalists' investment efforts towards carbon neutrality. The paper also has practical implications for start-up firms that raise capital and venture capitalists who finance green start-ups.

Currently, rehabilitation medical care is expensive, requires a large number of rehabilitation therapist and which can only limit in the fixed location. In addition, there is a lack of research on the structure optimization and theoretical analysis of soft actuators for hand rehabilitation. In view of the problems above, this paper aims to propose a cheap, portable, wearable soft multiple joints rehabilitation glove.

First, this paper determined the hyperelastic constitutive model by material tensile test. Second, the soft actuator’s internal longitudinal section shape was optimized through the comparison of three diverse chamber structures. Meanwhile, the motion model of the soft actuator is established by the finite element model analysis method. Then, this paper established the constitutive model of the soft actuator according to the torque equilibrium equation and analyzed the relationship between the soft actuator’s bending angle and the input air pressure. This paper has verified that the theoretical model is correct through the soft actuator bending test. Finally, rehabilitation gloves were manufactured according to the model and the rehabilitation performance and grasping ability of gloves were verified through experiments.

The optimization results show that the internal semicircular cavity has better performance. Then, the actuator performance is better after adding the external arc structure and optimizing the physical dimension. The experimental results show that the trajectory of the actuator conforms to the mathematical model and rehabilitation gloves can meet the needs of rehabilitation treatment.

Rehabilitation gloves made of actuators can help patients with hand dysfunction in daily rehabilitation training. Then, it can also assist patients with some fine and complicated hand movements.

This paper proposes a new type of soft rehabilitation glove, which is composed of new soft actuators and adapting pieces. The new actuator is small enough to be fitted to the knuckle of the glove to move each joint of the finger.

Historically, investments in innovation are perceived as one of the paramount decisions businesses opt to thrive and the impact of such investments on businesses' market performance is well documented in the literature. However, the environmental aspects of making such investments are yet to be addressed by the firms, which in turn, present considerable damage to the environment. Coupling with the natural resource-based view (NRBV) and the stakeholder theory of the firm, this research builds on an earlier work of Khalil and Nimmanunta (2021) in an attempt to examine the link between innovation and firms' environmental and financial value. The authors extend their analysis and document a more consistent approach to measuring environmental innovation which allows the authors to investigate the firms from three additional economies with respect to firms' investments in both traditional and environmental innovations.

The underlying models are tested using the time fixed-effects panel regression by utilizing information from publicly traded companies of ten Asian economies, including Japan, Hong Kong, Taiwan, Thailand, Turkey, Malaysia, Singapore, India, Indonesia, and Saudi Arabia. The reported sample covers annual firm-level ESG data obtained from Thomson Reuters' Datastream and Refinitiv Eikon during the 2015–2019 period.

This research offers support to the conventional wisdom that innovation is advantageous to the firms' market value. The authors further decompose innovation into traditional innovation and environmental innovation. The findings of this research suggest that traditional innovation is favorable only for the firms' market valuation and traditional innovation is strongly ineffectual for the environment – traditional innovation produces sizeable environmental distress by contributing substantially to carbon emissions. In contrast, the resultant effects of investments in environmental innovation are evident to be instrumental for both firms' financial performance and the environment.

This research has primarily focused on only two components of a company's environmental performance: reduction in carbon emissions (CO2) and corporate social responsibility (CSR). Given the complexity of firms' environmental strategies and the multidimensionality of the variable, which encompasses a wide range of corporate behavior in terms of relationships with communities, suppliers, consumers, and broader environmental responsibilities broadening the scope of the study by including other important aspects of environmental sustainability is, therefore, critical.

The findings of this research signify environmental innovation as one of the vital investment approaches as firms can exploit benefits related to the market from firms' sustainable practices, developing eco-friendly processes by introducing steady yet systematic chains of green products and services. Such products and services may have a feature of enhanced functionality with a better layout in terms of improved product life with better recycling options, and lower consumption and exploitation of energy and natural resources. These sustainable practices would be advantageous for the firms regarding the possibility of setting prices above the standard level through establishing green brands and gaining market share of environmentally anxious consumers. For those companies that are striving to take the leading role in the green industry and longing to seek superior returns on the companies' environmental investments, these benefits, in particular, are exceptionally critical to them.

The linkage between firms' financial and environmental performance in the context of simultaneous inclusion of both green and traditional innovations remains unclear and is yet to be investigated by researchers. Thus, this research shed light on the role of environmental innovation and traditional innovation on firms' environmental performance and financial performance. The authors utilize a novel dataset with a clear indication of measuring different elements of innovation that allows us to develop a more robust approach to corporates' environmental, social and governance (ESG) performance metrics having the slightest biases related to transparency and firm size.

Most supersonic aircraft were manufactured using 2A70 aluminum alloy. The purpose of this paper is to study the corrosion mechanism and fatigue behavior of an aircraft in a semi-industrial atmospheric corrosive environment, alternating effects of corrosion and fatigue were used to simulate the aircraft’s ground parking corrosion and air flight fatigue.

For this purpose, the aluminum alloy samples were subjected to pre-corrosion and alternating corrosion-fatigue experiments. The failure mechanisms of corrosion and corrosion fatigue were analyzed using microscopic characterization methods of electrochemical testing, X-ray diffraction and scanning electron microscopy. Miner’s linear cumulative damage rule was used to predict the fatigue life of aluminum alloy and to obtain its safe fatigue life.

The results showed that the corrosion damage caused by the corrosive environment was gradually connected by pitting pits to form denudation pits along grain boundaries. The deep excavation of chloride ions and the presence of intergranular copper-rich phases result in severe intergranular corrosion morphology. During cyclic loading, alternating hardening and softening occurred. The stress concentration caused by surface pitting pits and denudation pits initiated fatigue cracks at intergranular corrosion products. At the same time, the initiation of multiple fatigue crack sources was caused by the corrosion environment and the morphology of the transient fracture zone was also changed, but the crack propagation rate was not basically affected. The polarization curve and impedance analysis results showed that the corrosion rate increases first, decreases and then increases. Fatigue failure behavior was directly related to micro characteristics such as corrosion pits and microcracks.

In this research, alternating effects of corrosion and fatigue were used to simulate the aircraft’s ground parking corrosion and air flight fatigue. To study the corrosion mechanism and fatigue behavior of an aircraft in a semi-industrial atmospheric corrosive environment, the Miner’s linear cumulative damage rule was used to predict the fatigue life of aluminum alloy and to obtain its safe fatigue life.

Enterprise social media platforms (ESMPs) are web 2.0-based computer media tools that facilitate knowledge sharing by employees. The purpose of this paper is to outline the potential of ESMPs in both enabling and hindering knowledge sharing from the perspective of affordances.

This is a conceptual paper which integrates the literature on ESMPs’ affordances and knowledge sharing.

This paper finds that prior research on affordances only considered artifacts without much attention on the role of individual goals and organizational context. ESMPs may both enable and hinder knowledge sharing by affording different user behaviors contingent on artifacts, individual goals and organizational context.

The results of the paper will help managers and ESMPs designers to better understand the potential of ESMPs and pay attention to the positive and negative impacts of ESMPs in the process of knowledge sharing.

The paper derives a new categorization of affordances based on individual goals and organization context and portrays a model to describe how and when these affordances enable knowledge sharing through the development of transactive memory system and social capital and hinder knowledge sharing through overload, groupthink and privacy invasion.

In the digital age, enterprise social media (ESM) use is becoming more prevalent in the workplace. The “group” function is a very important part in the use of ESM. This paper explores how the characteristics of employees' task requirements affect their group participation behaviors on the ESM.

Based on information processing theory, the authors establish a two-stage research model to explore the impact of task characteristics on employees' online group participation behavior in the context of ESM. Data were collected using a survey of 341 Chinese employees.

The results indicate that (1) task interdependence was positively correlated with participation in small closed groups; (2) task complexity was positively correlated with participation in small groups, large closed groups and open professional groups and (3) task non-routineness was positively correlated with participation in small groups, large closed groups and open professional groups.

This study builds on the literature on task characteristics, information processing theory and employees' online group participation behavior, contributing to the research on ESM in the field of information systems and providing guidance for enterprise practice.

The purpose of this paper is to examine the impacts of rural–urban migration on agricultural (labor) productivity in China.

This paper closely follows the framework of Rozelle et al. (1999), Taylor et al. (2003) and Atamanov and Van den Berg (2012)—new economics of labor migration—to demonstrate the heterogeneous effects of migration on agricultural productivity, using simultaneous equations extended by an interaction term of off-farm income and household wealth.

The results empirically verify two key theoretical predictions: the loss of labor available for agricultural activities decreases rice yield per worker per day, and the off-farm income that may relax liquidity constraints has a positive offsetting effect, which becomes weaker with increasing household wealth. The final calculation based on these two contradictory influences indicates that the lost-labor effect dominates across all levels of household wealth, resulting in a negative net impact of rural–urban migration on agricultural productivity. The key results are shown to hold for land productivity as well.

To the best of the author’s knowledge, it is the first paper to examine the impacts of rural–urban migration on labor productivity and the heterogeneity across households with different levels of wealth. A major policy issue facing national leaders is whether the massive and ongoing outflow of labor will be a threat to China’s rural development and its food security in the future. This paper provides insightful ideas in a different way.