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To explain the key amendments to China’s rules governing fund custody business and highlight the implications for private fund managers.

The article analyses, from the perspective of private fund managers, the key amendments to the rules governing fund the custody business in China in terms of custody of fund assets, the fund settlement and clearing process, valuation, disclosure and reports, investment supervision, review of distributions and governance.

The revised rules governing the fund custody business allow private fund managers to use their global custodian in China locally and leave room for managers and custodians to agree on their responsibilities and risk allocation in the fund contract.

The article offers practical guidance on how private fund managers may contractually allocate responsibilities and risks between themselves and fund custodians in the fund contract.

The purpose of this paper is to analyze the stiffness reliability of harmonic drive (HD) considering contact pairs wear.

In terms of theoretical calculation, the contact pairs wear of HD are calculated based on Archard wear formula and the relative motion characteristics of contact pairs. According to the motion trajectory of flexspline teeth, the teeth backlash and the number of meshing teeth, the meshing stiffness and overall stiffness of HD are analyzed considering the wear and its randomness of contact pairs. Combined with Monte Carlo Simulation, the stiffness reliability evaluation method considering contact pairs wear is proposed, and the result of this method is verified by the stiffness reliability result deduced from the stiffness degradation measurement data.

Considering contact pairs wear, during operation, the teeth backlash increases, the number of meshing teeth decreases, the meshing stiffness decreases, ultimately leading to a gradual decrease in the overall stiffness of HD. When only one type of contact pair wear is considered, the influence of flexspline and circular spline contact pair wear on HD stiffness reliability is greater. Compared with the stiffness reliability evaluation results obtained from the stiffness degradation data in the literature, the mathematic expectation of stiffness degradation failure life distribution obtained from the proposed method is relatively bigger.

The stiffness reliability evaluation method of HD considering contact pairs wear is firstly proposed. The stiffness reliability evaluation result from theoretical calculation is verified by the stiffness reliability results deduced from HD stiffness degradation measurement.

The purpose of this viewpoint article is to serve as a discussion starting point regarding organizational leadership’s increasing reliance on AI – in particular, how the technology is used as a supplemental tool for supporting rational decision-making. Practical implications and directions for further research are presented.

With its inception in economics, the concept of rationality has a rich history across multiple research domains. Based on that literature, coupled with the recent advancements in AI, the paper asks: will AI afford organizational leadership the ability to move from making bounded rational decisions to making fully rational decisions? The paper only scratches the surface of such a large question; however, the goal is to start the discussion around the topic.

While bounded rationality supports efficient decision-making, a complete understanding of any given decision is typically limited, and as a result, neither accuracy nor effectiveness is guaranteed. As AI systems grow in speed and accuracy, they should provide positive support for organizational leaders to make fully rational decisions. AI’s ability to collect and organize data, analyze it, and offer decision alternatives may help close the gap between bounded and rational decision-making.

Although AI research is not new, the recent developments in natural language processing engines has rapidly brought about new possibilities for their use in rational decision-making in the business and organizational context. This is fertile ground for future research, particularly in the area of organizational decision-making.

The purpose of this paper is to investigate how to measure the effect of unobservable factors on residential choice behaviour in an attempt to advance the understanding of how to perform advanced market analysis. This research is important to residential developers, as the diversity of preferences is increasingly driven by lifestyle-based households and affluent households.

Information about the pros and cons of renting an apartment in an ongoing residential development project in Stockholm came from interviews using the laddering technique. Qualitative data were subsequently analysed using exploratory and confirmatory factor analysis to confirm which factors had the highest effect on an overall assessment of living in the development and a value-for-money conclusion.

Among the potentially important factors identified, respondents who became residents perceived the development to be more noise-free than those who did not when stating the overall value of living in the development and making a value-for-money conclusion. The perception of noise differed between the two groups, meaning that those who did not become residents believed the development to be more exposed to noise. The standard of the apartment was the second most influential factor when stating the overall value of living in the development and making a value-for-money conclusion. The belief of being able to relax in the home environment had no significant effect on overall value for either group.

The results show that confirmatory factor analysis can be used in measuring the effect of unobservable factors in residential choice behaviour. The methodology presented may advise developers, architects or planners in evaluating those attributes that create value-for-money to improve, for example, overall design solutions in urban development projects.

The declining attractiveness of construction industry to the new-generation onsite construction professionals (OCPs) in China can be the result of insufficient supply of what they desire at work. There is a lack of studies that make clear the work values of this cohort and the fit between their work value preferences and job supplies. Therefore, the purpose of this study is to address this issue.

This study focused on Chinese new-generation OCPs. Work values and job supplies were measured by two rounds of questionnaire surveys. Factor analysis was implemented to identify work value types. Paired samples t-test, independent samples t-test and one-way ANOVA were performed to figure out work value preferences and degree of supplies–values (S-V) fit and compare them across subgroups.

Intrinsic, “good time”, work-team-related, altruistic/prestigious and extrinsic work value types were identified. Chinese new-generation OCPs most valued work-team-related and intrinsic work aspects, while significant insufficient supply was relevant to intrinsic, extrinsic and “good time” aspects. Work value preferences and S-V fit showed significant differences among subgroups of gender, growth background, work rank and project type.

The results provide insights for construction companies to practice work-value-based human resource management toward new-generation OCPs and make targeted measures to address the misfit between supplies and values experienced by these OCPs.

This study for the first time examined work values of Chinese new-generation OCPs. It opens a new perspective for research based on S-V fit theory that focused on industry level. The effects of demographic and professional variables on the work values and the degree of S-V fit were revealed. This study thus contributes to the extant literature of work values and S-V fit.

This paper aims to review the latest applications in terms of three-dimensional printed (3DP) metal implants in orthopedics, and, importantly, the design of 3DP metal implants through a series of cases operated at The Second Hospital of Jilin University were presented.

This paper is available to practitioners who are use 3DP implants in orthopedics. This review began with the deficiency of traditional prostheses and basic concepts of 3DP implants. Then, representative 3DP clinical cases were summarized and compared, and the experiences using customized prostheses and directions for future potential development are also shown.

The results obtained from the follow-up of clinical applications of 3DP implants show that the 3D designed and printed metal implants could exhibit good bone defect matching, quick and safe joint functional rehabilitation as well as saving time in surgery, which achieved high patient satisfaction collectively.

Single center experiences of 3DP metal implants design were shared and the detailed technical points between various regions were compared and analyzed. In conclusion, the 3DP technology is infusive and will present huge potential to reform future orthopedic practice.

As part of the 5G rollout, small cell base stations will be deployed across cities. This paper aims to identify an international effort to remove regulatory barriers around deployment and outline emerging strategies Australian local governments are developing to ensure urban amenity in a deregulatory context.

This paper analyses existing legislation, policy frameworks and grey literature and has conducted eight interviews with participants from the local government sector.

This paper identifies a global deregulatory trend around small cell deployment and that councils are trying to renegotiate their relationship with telecommunications carriers as 5G is rolled out. Three strategies are identified: the design and installation of smart poles, network sharing and partnerships.

This research contributes to scholarship focused on the 5G rollout and offers one of the first accounts of the emerging tensions between regulatory frameworks, commercial imperatives and municipal authorities, identifying urban amenity as a key area of concern.

The purpose of this study is to examine the impact of experience dimensions on the engagement in pro-environmental behaviour (PEB) within nature-based tourism in China. The focus was on sustainable/responsible consumer behaviour by the Chinese Gen Z (18–26 years).

Firstly, a conceptual model was suggested, drawn on experiential marketing approach. Secondly, an empirical study (online survey) with a sample of 580 young persons was conducted and data were analysed using structural equation modeling (SEM).

It was revealed that the act and feel dimensions significantly influence experiential value (EV), and EV positively affects satisfaction, significantly impacting arousal and memory. Positive outcomes of experience impact Gen Z members’ engagement in PEBs. Furthermore, arousal and memory play a similar and partial mediating role between satisfaction and engagement in PEB.

The insights gained give support and guidance to tourism destinations and suppliers to promote environmentally friendly behaviour among tourists. This understanding is valuable and useful to industry practitioners in elaborating and implementing the appropriate strategies to stimulate, motivate and promote tourists’ PEB.

This study elaborates an integrative framework, drawn on a marketing approach and establishing a relationship between experiential dimensions and engagement in PEB through the mediating factors of perceived EV, satisfaction, memory and arousal. It provides tourism researchers with new perspective and insights on tourism experience and consumption behaviour.

本研究证实了体验维度对于中国自然旅游地游客的亲环境旅游行为(PEB)的影响。研究对象聚焦于中国Z世代(18 至26 岁)游客的亲环境行为。

本研究基于体验营销, 提出了一个概念模型, 对580名Z世代游客进行了实证研究(在线调查), 并采用结构方程模型（SEM）对数据进行分析。

结果表明, 行动维度和情感维度显著影响体验价值, 体验价值正向影响满意度, 满意度显著影响唤醒度和记忆。体验后的积极结果会影响Z世代游客的亲环境行为的参与。此外, 唤醒度和记忆在满意度和亲环境行为参与之间起平行的部分中介作用。

研究结果可为旅游目的地的管理者和从业者提供借鉴和参考, 以促进游客的环保行为。这对于旅游业从业者制定和采取恰当的策略来促进和激励游客的亲环境行为也具有重要意义。

本研究基于营销方法, 构建了一个整合框架, 并通过体验价值、满意度, 记忆和唤醒度等中介, 建构了体验维度和参与亲环境行为之间的关系, 拓展了旅游体验及消费行为的研究视角。

El propósito de este estudio fue examinar el impacto de las dimensiones de la experiencia en el comportamiento turístico proambiental (CTP) en el turismo de naturaleza en China, centrándose en el comportamiento sostenible y responsable de la Generación Z china (entre 18 y 26 años).

Se propuso un modelo conceptual basado en el enfoque del marketing experiencial. Posteriormente, se llevó a cabo un estudio empírico mediante una encuesta en línea a 580 jóvenes, y los datos obtenidos se analizaron utilizando SEM (Modelado de Ecuaciones Estructurales).

Se encontró que las dimensiones “actuar” y “sentir” tienen una influencia significativa en el valor experiencial, y este último impacta positivamente en la satisfacción, lo cual a su vez influye en la excitación y la memoria. Los resultados positivos de la experiencia turística tienen un efecto en el compromiso de los miembros de la Generación Z con el comportamiento turístico proambiental. Además, tanto la excitación como la memoria desempeñan un papel parcialmente mediador entre la satisfacción y el compromiso en el CTP.

Los conocimientos obtenidos en este estudio brindan apoyo y orientación a los actores del sector turístico para fomentar un comportamiento respetuoso con el medio ambiente entre los turistas y visitantes. Esta comprensión es valiosa y útil para los profesionales del sector al diseñar e implementar estrategias adecuadas que estimulen, motiven y promuevan el comportamiento turístico proambiental.

Este estudio presenta un marco integrador basado en el enfoque del marketing experiencial, estableciendo una relación entre las dimensiones experienciales y el compromiso en el CTP a través de factores mediadores como el valor experiencial percibido, la satisfacción, la memoria y la excitación. Proporciona a los investigadores del turismo una nueva perspectiva y conocimientos sobre la experiencia turística y el comportamiento de consumo.

The aim of this research paper is to analyze the connection between ESG performance and financial performance within the real estate sector. By focusing on ESG ratings and pillar scores as proxies for ESG performance, the study investigates how these factors impact both profitability and market indicators.

With data sourced from over 680 publicly listed real estate companies, the research employs a fixed effects regression model to analyze the findings. By utilizing this method, the study can assess the impact of governance, environmental and social factors on both the accounting and market performance of real estate companies.

The outcomes of this study underscore a link between sustainability, particularly environmental aspects and financial performance. However, the study also reveals a contrasting result: governance factors are associated with adverse financial outcomes. Nevertheless, it is important to highlight the limitations as the results present a mixed picture with limited significant findings.

Companies should prioritize improvements in environment to boost profitability, while they should carefully consider the costs and benefits associated with enhancing their governance structure.

By focusing on this industry and adopting a global perspective, the study addresses a gap in the literature. The research’s innovative approach to utilizing ESG ratings and pillar scores as proxies for ESG performance enhances its originality. Furthermore, the research’s identification of the differing impacts of environmental and governance factors on financial outcomes add novel perspectives to the discourse.

The application of thermal barrier coatings (TBCs) allows aero-engine blades to operate at higher temperatures with higher efficiency. The preparation of the TBCs increases the surface roughness of the blade, which impacts the thermal cycle life and thermal insulation performance of the coating. To reduce the surface roughness of blades, particularly the blades with small size and complex curvature, this paper aims to propose a method for industrial robot polishing trajectory planning based on on-site measuring point cloud.

The authors propose an integrated robotic polishing trajectory planning method using point cloud processing technical. At first, the acquired point cloud is preprocessed, which includes filtering and plane segmentation algorithm, to extract the blade body point cloud. Then, the point cloud slicing algorithm and the intersection method are used to create a preliminary contact point set. Finally, the Douglas–Peucker algorithm and pose frame estimation are applied to extract the tool-tip positions and optimize the tool contact posture, respectively. The resultant trajectory is evaluated by simulation and experiment implementation.

The target points of trajectory are not evenly distributed on the blade surface but rather fluctuate with surface curvature. The simulated linear and orientation speeds of the robot end could be relatively steady over 98% of the total time within 20% reduction of the rest time. After polishing experiments, the coating roughness on the blade surface is reduced dramatically from Ra 7–8 µm to below Ra 1.0 µm. The removal of the TBCs is less than 100 mg, which is significantly less than the weight of the prepared coatings. The blade surface becomes smoothed to a mirror-like state.

The research on robotic polishing of aero-engine turbine blade TBCs is worthwhile. The real-time trajectory planning based on measuring point cloud can address the problem that there is no standard computer-aided drawing model and the geometry and size of the workpiece to be processed differ. The extraction and optimization of tool contact points based on point cloud features can enhance the smoothness of the robot movement, stability of the polishing speed and performance of the blade surface after polishing.