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Online retailers have become gradually popular to offer consumers installment payment services in the past few years. This paper aims to study how to determine the duration and rate of installment payment services, as well as the price of products to increase online retailers’ profits.

By modeling the utility functions, the behavior of consumers for strategic choosing the payment method and payment timing is analyzed. Thus, the market segments are obtained through the comparison of the consumer’s utilities. Combined with the given assumptions, the installment payment strategies for online retailers is investigated. This paper focuses on the impact of installment payment services on consumers’ purchasing behavior and online retailers’ profits by modeling and comparative analysis. No installment payment service as a benchmark, it is demonstrated whether online retailers can obtain more profits by offering installment payment services or what are the applicable conditions for installment payments.

If the installment payment service is offered, online retailers can gain more profits and need to adopt appropriate strategies based on different market conditions. During the depression or the peak shopping season, online retailers should take the strategy of free installment rate, and moderately increasing the product price of no installment service. When market demand is stable or during non-peak season, online retailers need to set a higher installment rate and maintain the product price without installment service. Finally, online retailers should determine the maximum duration of installments they can afford based on own risk control cost and allow consumers to freely choose the length of the installment within the duration limit.

First, the authors deeply analyze consumers’ payment and purchase behavior when the online retailer offers the installment payment service. Then, it is theoretically proved why many online retailers have offered installment payment services to consumers from a profit perspective. Finally, this paper proposes the optimal duration of installments, installment rate and product price in different market environments for online retailers, to provide theoretical basis and managerial insights for the development of installment payment service in online shopping.

The purpose of this study is to improve the dispersion of nanoserpentine modified with OA, KH550 and KH550/oleic acid in lubricating oil. The main aims are to analyze the influence of the dispersion and stability of nanoserpentine modified by different modifiers on the friction properties of lubricating oil.

The nanoserpentine particles obtained by ball-milling were modified by silane coupling agent KH550, OA and KH550/OA, respectively. The dispersity and stability of nanoserpentine in base lubricating oil were characterized by the absorbance value method, centrifuge precipitation rate method and static observation method. The MMU-5G screen display friction and wear tester was used to evaluate the tribological properties of C45E4/C45E4 friction pairs in corresponding lubricating oils. The surface morphology of the friction pairs was observed by scanning electron microscopy and energy dispersive spectroscopy.

The results showed that the dispersity and stability of nanoserpentine particles in lubricating oil were best modified by OA, followed by the KH550/OA and finally, the KH550. Nanoserpentine particles modified with oleic acid showed optimum tribological properties as lubricant additives.

This study can improve the dispersion stability of nanoserpentine particles in lubricating oil, increasing the antiwear and antifriction performance of lubricating oil, which has great significance in economic and military aspects.

This paper aims to investigate the tribological properties of polytetrafluoroethylene (PTFE) composites modified by nano-serpentine and nano-lanthanum oxide in a seawater environment.

In this paper, seven PTFE composites were prepared by unified design method and vacuum thermoforming method, and their hardness, water absorption and tribological properties were measured under seawater environment. The modification effects and thermal stability of the materials were analyzed by Fourier transform infrared spectroscopy, thermal gravimetry and differential scanning calorimetry. This paper analyzed the wear mechanism of PTFE composites by scanning electron microscopy and energy spectroscopy.

The results showed that the hardness of the PTFE composites were all improved, but the water absorption was increased with the increase of additives. The modification of nano-serpentine was successful and the thermal stability of PTFE composites was better. The lowest coefficient and minimum wear rate are 0.0267 and 8.67 × 10⁻⁵ · mm³ · (N · m)⁻¹ respectively, which is 34.9% and 76% less than the pure PTFE.

The analysis showed that the wear mechanism of PTFE composites was abrasive wear and a small amount of adhesive wear, and when the additive content was appropriate, it easily formed a transfer film on the surface mating parts.

Aluminum alloy is susceptible to chloride ion attack in sea water, resulting in pitting damage and hence serious security risks for the related applications. To improve the corrosion resistance of Al alloy, micro-arc oxidation (MAO) technology has been developed to produce a protective dense oxide layer on top of Al alloy. However, the mechanism of MAO-induced corrosion resistance is still not fully understood, particularly on local corrosion issue. This paper aims to focus on comprehensively studying the corrosion-resistance mechanism by a series of technologies.

The corrosion behavior of samples was studied by open circuit potential (OCP), potentiodynamic polarization (PDP), electrode impedance spectroscopy (EIS) and localized electrode impedance spectroscopy (LEIS) tests in NaCl solution.

The MAO-coated Al alloy shows a more positive corrosion potential and a higher corrosion current density compared to the untreated counterpart, indicating a significantly enhanced corrosion-resistance. The study of surface morphology and structure also suggest significantly enhanced corrosion-resistance due to the MAO treatment.

Based on the results, a new corrosion model was proposed to describe the influence of MAO treatment on the corrosion process and corrosion mechanism of Al alloy, providing insights on the design of the corrosion-resistance coating for metallic alloys in marine applications.

The purpose of this paper is to improve the corrosion resistance of the 6061-Al alloy as the battery pack material for electric vehicles, and the nano-SiC/MAO composite coating was prepared.

The corrosion resistance of coatings was evaluated by the global electrochemical test, and the local electrochemical impedance spectroscopy (LEIS) was used to study the local corrosion mechanism. The laser confocal microscope, scanning electron microscope and X-ray diffractometer (XRD) were used to characterise coatings.

Results showed that the impedance of nano-SiC/MAO coating was 1–2 times higher than MAO coating, and the main corrosion product was Al(OH)₃. LEIS results showed that the impedance of the nano-SiC/MAO coating was two times higher than the MAO coating. The defective SiC/Micro-arc oxidation coating still had high corrosion resistance compared to the MAO coating.

The physical model of the local corrosion mechanism for SiC/MAO composite coating in “cavity-fracture collapse” mode was proposed.

The purpose of this paper is to study the cooperation and pricing strategies for e-commerce platforms when considering seller classification.

E-commerce platforms serve to facilitate trade and generate revenue from the participants. By classifying the sellers in the market into two types (the individual sellers vs the professional sellers), the authors examine how the interaction between the two types of sellers affects the platform’s cooperation and pricing decisions. Specifically, the authors compare two cooperation strategies for the platform: cooperating only with the professional sellers (strategy I); and cooperating with both the two types of sellers (strategy II).

When the platform attractiveness for the professional sellers is high enough, strategy II is absolutely beneficial than strategy I; whereas when the platform attractiveness for the professional sellers is low and the performance requirement of the individual sellers is relatively high, strategy I will be more beneficial.

For a platform choosing strategy II, it should make effort to differentiate between the different types of sellers by the product or service quality.

The paper is among the first to study the cooperation and pricing strategies for the e-commerce platform with seller classification.

The purpose of this paper is to examine the relationship between financial literacy and entrepreneurial activities, and the moderating effects of industrial regulation in the relationship between financial literacy and entrepreneurship.

In this study, the role of financial literacy on entrepreneurial participation and performance is investigated through multi-sourced data from the Chinese Family Panel Studies with manually merged provincial and industrial data from 2014. Four hypotheses are tested based on Probit and Tobit models. Moreover, instrumental variable method and principal component analysis are applied to provide robustness checks.

The empirical results demonstrate that financial literacy has significantly positive effects on entrepreneurial participation, as well as on entrepreneurial performance. In addition, industrial regulation positively moderates the effects of financial literacy on entrepreneurial participation and performance, which indicates that financial literacy plays a more important role in promoting entrepreneurship in tightly regulated industries.

This study proposes and tests the effects of financial literacy on entrepreneurial activities, which fills an important gap in the literature. The results in this paper provide evidence that financial literacy has positive impacts in both the entry and operation stages of entrepreneurship. This evidence provides theoretical foundations for policy making in popularizing financial knowledge and supporting entrepreneurial activities. Moreover, this research further reveals the effects of industrial regulation in the context of China, suggesting that the government should be more effective in promoting administrative decentralization and reducing unnecessary interventions.

Blockchain is a technical solution integrating multiple technologies, with the potential to overcome the drawbacks of organizational governance. Given the emergence and prevalence of blockchain, its importance for organizational governance has progressively increased. Therefore, this study aims to analyze how blockchain restructure organizational governance.

This study presents a structured systematic literature review of blockchain-enabled applications across diverse organizational governance models and several case studies to illustrate them. Based on the above analysis, governance mechanisms, transaction upgrading and challenges are proposed.

Based on the literature review and typical applications, the authors summarize the advances in the research on the theoretical and practical applications of blockchain in organizational governance. We also identify the influence mechanisms of organizational governance and investigate transaction upgrading based on blockchain. Finally, the authors discuss three types of challenges (i.e. administrative, technical and environmental) to the relationship between blockchain and organizational governance. Along with the development of blockchain applications, the impact of blockchain on organizational governance has progressed in both theory and practice. Therefore, these findings will have significant implications for both academics and practitioners.

This paper makes three key theoretical contributions: we review the literature on the impact of blockchain on organizational governance and present typical cases to illustrate it; propose four governance mechanisms for the application of blockchain in organizational governance; and propose an innovating-and-matching-oriented model of transaction upgrading based on blockchain.

This paper aims to describe a three-dimensional mathematical and numerical model based on finite volume method to simulate the fluid dynamics in weld pool, droplet transfer and keyhole behaviors in the laser-MIG hybrid welding process of Fe36Ni Invar alloy.

Double-ellipsoidal heat source model and adaptive Gauss rotary body heat source model were used to describe electric arc and laser beam heat source, respectively. Besides, recoil pressure, electromagnetic force, Marangoni force, buoyancy as well as liquid material flow through a porous medium and the heat, mass, momentum transfer because of droplets were taken into consideration in the computational model.

The results of computer simulation, including temperature field in welded plate and velocity field in the fusion zone were presented in this article on the basis of the solution of mass, momentum and energy conservation equations. The correctness of elaborated models was validated by experimental results and this proposed model exhibited close correspondence with the experimental results with respect to weld geometry.

It lays foundation for understanding the physical phenomena accompanying hybrid welding and optimizing the process parameters for laser-MIG hybrid welding of Invar alloy.

This paper aims to investigate the effect of solder alloying with a small amount of La and Y on bond formation with the Si and Cu substrates.

Bi₂La and Bi₂Y solders were studied. Soldering was performed using a fluxless method in air and with ultrasonic activation.

It was found that in the process of ultrasonic soldering, the La and Y were distributed at the interface with Si and Cu substrates, which enhanced the bond formation. Addition of La or Y elements in a Bi-based solder also ensured wetting of non-metallic materials such as Si, Al₂O₃ and SiC ceramics.

The addition of lanthanides offers a method for ensuring wetting of non-metallic materials. The bond with Si was of an adhesive character without the formation of a new contact interlayer. This resulted in lower shear strength of the bond with Si (8-10 MPa). The shear strength of the bond with a Cu substrate was 22-30 MPa.