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1 – 10 of 212Ying Huang, Xiankui Hu, Kenneth Hunsader and Steven Xiaofan Zheng
The authors of this study aim to investigate possible explanations of the prevalence of price clustering in the final offer prices of mergers and acquisitions (M&A).
Abstract
Purpose
The authors of this study aim to investigate possible explanations of the prevalence of price clustering in the final offer prices of mergers and acquisitions (M&A).
Design/methodology/approach
The authors use final offer price in M&A deals to investigate the price clustering phenomena. The authors used regressions and logistic regressions to examine potential factors that might affect pricing strategy by looking into one-time acquirers and experienced serial acquirers.
Findings
Price clustering increases with negotiation uncertainties characterized as competitive bidding, number of bidders, challenged deals and duration. Moreover, the authors find persistent price clustering in experienced serial acquirers that are more experienced and better equipped with handling uncertainties, suggesting a preference of using round numbers regardless of levels of uncertainties. The authors' evidence shows that price clustering results from a combination of Harris' (1991) costly negotiation hypothesis where round prices may be used to lower search costs and psychological bias and preference.
Originality/value
The authors appear to be the first to investigate alternative theories that support M&A offer price clustering behavior, finding that both the costly negotiation and psychological bias and preference theories apply to M&A final price formation. Thus, the authors' major contribution, specific to the M&A process, is a clarification of physical and psychological factors associated with bidding and negotiation behavior. The authors are confident that the authors' study impacts conventional knowledge regarding M&A deal negotiation strategies, including bidding behavior, contract negotiation, financial analysis, management practices and risk management.
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Anshu Duhoon and Mohinder Singh
The increased interest among academicians to explore more about tax management behavior is evident in the literature on corporate tax avoidance. This paper aims to illustrate the…
Abstract
Purpose
The increased interest among academicians to explore more about tax management behavior is evident in the literature on corporate tax avoidance. This paper aims to illustrate the multiple aspects that influence the tax avoidance behavior of corporations and its impacts through the systematic review method.
Design/methodology/approach
This study used “Tax Avoidance” OR “Tax Aggressiveness” OR “Tax Planning” as search strings to extract the relevant literature from the Scopus database. This study is a comprehensive analysis of existing literature on corporate tax avoidance behavior. Further, the keyword network analysis has been used to find out the most explored and dry research areas related to corporate tax avoidance behavior using VOSviewer software.
Findings
The study finds that taxation decision is an important managerial decision. Managers adopt tax avoidance tactics to boost postax profits to meet the shareholders’ expectations, particularly of risk-averse shareholders, and sometimes for their benefit also. With this, this study also finds that firms’ characteristics, political connections and corporate social responsibility activities also impact taxation decisions. In addition, the study identifies that tax-avoiding behavior has a contradictory impact on firm value, market growth and corporate transparency disclosure decisions.
Research limitations/implications
The study assists the researchers by providing a brief overview of tax avoidance behavior, for corporates in understanding the implications of tax avoidance, and for policymakers to fix the taxation loopholes and bring necessary tax reforms.
Originality/value
This study adds to the existing literature by providing a thorough overview of theories, determinants and outcomes of corporate tax avoidance behavior.
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Junying Liu, Zhixiu Wang, Jiansheng Tang and Jingcong Song
While there is a general belief that a defective institutional environment will lead to higher compliance risk, the current state of knowledge about how the institutional…
Abstract
Purpose
While there is a general belief that a defective institutional environment will lead to higher compliance risk, the current state of knowledge about how the institutional environment affects enterprises' compliance is equivocal. This study aims to explore how does the host country's institutional environment affect the compliance risk perception of international engineering contractors and how to mitigate this impact.
Design/methodology/approach
This study empirically tests the impact of the institutional environment from the two dimensions of the institutional environment: legal completeness reflects whether the formal regulations are clear, detailed and comprehensive and legal effectiveness reflects whether rules and policies can be implemented effectively when the proper legal codes are provided. Based on 213 questionnaire data, this study uses partial least squares structural equation model (PLS-SEM) and Smart PLS software to test the hypothesis.
Findings
This study finds a negative relationship between the host country's legal completeness (LC) or legal effectiveness (LE) and a contractor's compliance risk perception. Further, the results show potential absorptive capacity (PAC) and realized absorptive capacity (RAC) of a contractor are critical for mitigating the impact of low LC in the host country, but not when LE is low.
Practical implications
The findings will be useful for international engineering contractors to respond to the compliance risk of the host country, both in choices of overseas investment locations and compliance capacity building.
Originality/value
This study reveals the impact of the host country's institutional environment on the compliance risk perception of international contractors, and provides theoretical guidance for how to alleviate the compliance barriers brought by the host country's institutional environment to international engineering contractors.
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Jaya Priyadarshini and Amit Kumar Gupta
A flexible manufacturing system (FMS) helps improve the system’s performance, thus increasing its overall competitiveness. FMS is an essential component of Industry 4.0 (I4.0)…
Abstract
Purpose
A flexible manufacturing system (FMS) helps improve the system’s performance, thus increasing its overall competitiveness. FMS is an essential component of Industry 4.0 (I4.0), which has revolutionized the way firms manufacture their products. This study aims to investigate the diverse focus of the research being published over the years and the direction of scholarly work in applying FMSs in business and management.
Design/methodology/approach
A total of 1,096 bibliometric data were extracted from the Scopus database from the years 2001 to 2021. A systematic review and bibliometric analysis were performed on the data and related articles for performance measurement and scientific mapping on the FMS themes.
Findings
Based on co-keyword, the study reveals four major themes in the FMS field: mathematical models and quantitative techniques, scheduling and optimization techniques, cellular manufacturing and decision-making in FMSs. Based on bibliometric coupling on 2018–2021 bibliometric data, four themes emerged for future research: scheduling problems in FMS, manufacturing cell formation problem, interplay of FMS with other latest technologies and I4.0 and FMS.
Originality/value
The originality lies in answering the following research questions: What are the most highlighting themes in FMS, and how have they evolved over the past 20 years (2001–2021)? What topics have been at the forefront of research in FMS in the past five years (2016–2021)? What are the promising avenues of research in FMS?
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Ahmed Atef Oussii and Mohamed Faker Klibi
This study aims to investigate the relationship between chief executive officer (CEO) power and the level of tax avoidance of Tunisian listed companies. It also examines the…
Abstract
Purpose
This study aims to investigate the relationship between chief executive officer (CEO) power and the level of tax avoidance of Tunisian listed companies. It also examines the moderating role of institutional ownership in this association.
Design/methodology/approach
The sample comprises 306 firm-year observations of companies listed on the Tunis Stock Exchange during the 2013–2020 period.
Findings
The results indicate that CEO power reduces tax avoidance levels. Moreover, the relationship between CEO power and tax avoidance is more pronounced in the presence of institutional ownership, suggesting that CEOs act less opportunistically when monitored by institutional investors, which results in a reduction in tax avoidance.
Practical implications
This study suggests that CEO power and institutional shareholders’ influence are important factors in determining firms’ avoidance behavior. This study has significant implications for shareholders and regulatory bodies. Indeed, shareholders apprehend the impact of appointing a powerful CEO on tax avoidance practices. This study may also provide regulators with new insights into the influence of CEO power dimensions and institutional ownership on tax aggressiveness.
Originality/value
This study fills the gap in the accounting literature by investigating how CEO power may impact tax avoidance behavior and provides empirical evidence on the moderating impact of institutional ownership on this relationship in an emerging economy context characterized by a weakly protected investor setting.
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Guang Zhu, Fengjing Li, Yi Yan and Hustin Guenis
The collection and use of personal medical information for mobile health (mHealth) service raise significant privacy concerns. In this context, this study aims to explore the…
Abstract
Purpose
The collection and use of personal medical information for mobile health (mHealth) service raise significant privacy concerns. In this context, this study aims to explore the privacy paradox and its impact from the perspective of paradox resolution.
Design/methodology/approach
Based on social support theory and privacy calculus theory, this study first studies the effect of social support on perceived benefits, and explores the moderating effect of perceived health status on the privacy trade-off process. Secondly, the study examines the path of “privacy concerns – disclosure intention – disclosure behavior” to verify the existence of the privacy paradox. Following this, based on rational choice theory, the rationality degree is introduced as a moderating variable to investigate both its impact on the central route and the strength of this impact on the privacy paradox.
Findings
Empirical results show that informational support and emotional support influence perceived benefits significantly. Perceived benefits significantly influence privacy concerns, and perceived health status has a significant positive moderating effect. The authors further find that there is a privacy paradox within the mHealth context, and the privacy paradox is moderated negatively by rationality degree. The findings indicate that the impact strength of the privacy paradox will decrease with increases in rationality degree.
Research limitations/implications
The findings indicate that it is crucial to evaluate the privacy paradox and its impact from the perspective of paradox resolution.
Originality/value
This study offers a complete comprehension of the privacy paradox in mHealth and provides several valuable recommendations for enhancing both mHealth services and privacy controls.
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Yanan Wang, Lee Yen Chaw, Choi-Meng Leong, Yet Mee Lim and Abdulkadir Barut
This study intends to investigate the determinants of learners' continuance intention to use massive open online courses (MOOCs) for personal or professional development.
Abstract
Purpose
This study intends to investigate the determinants of learners' continuance intention to use massive open online courses (MOOCs) for personal or professional development.
Design/methodology/approach
This study employed quantitative research design. The respondents were individual learners from six selected universities in China who used MOOCs for continuous learning. A purposive sampling technique was employed to obtain 270 valid samples. Data were analyzed and analytical outputs were produced using the techniques of Partial Least Squares Structural Equation Modeling and Importance-Performance Matrix.
Findings
Expectation confirmation was found to have a positive relationship with perceived usefulness, flow experience, learning self-efficacy and satisfaction with MOOCs. Perceived usefulness, flow experience and leaning self-efficacy were also found to have a positive relationship with MOOC satisfaction. In addition, perceived usefulness, flow experience, learning self-efficacy and MOOC satisfaction had a positive impact on continuance usage intention.
Originality/value
The outcomes of the study can serve as a practical reference for MOOC providers and decision-makers to develop relevant strategies to increase the course completion rates.
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Chia-Chang Huang, Ching-Jung Chung, Yi-Ting Wu, Po-Ting Hsu, Jen-Feng Liang, Ying-Ying Yang and Jie Chi Yang
This study aims to evaluate the efficacy of a digital medical library, including department-based electronic journal access, library training course participation and scholarly…
Abstract
Purpose
This study aims to evaluate the efficacy of a digital medical library, including department-based electronic journal access, library training course participation and scholarly publications.
Design/methodology/approach
The data on full-text electronic journal access, participants of library training courses and scholarly publications were exported from a digital medical library database during 2017–2021. In addition, electronic journal access and library training courses were divided into high-level and low-level groups, while scholarly publications were divided into physician and non-physician groups.
Findings
The scholarly publications had a positive correlation to library training courses and electronic journal access. Furthermore, scholarly publications showed a significant difference between the high-level and low-level electronic journal access groups but not between the high-level and low-level library training course groups. Scholarly publications and electronic journal access had positive correlations for both the physician and non-physician groups. Scholarly publications and library training courses, and electronic journal access and library training courses had positive correlations only in the non-physician group.
Practical implications
The importance of electronic journal access for scholarly publications is suggested based on the findings of the present study. The training courses held by the medical library had a positive effect on scholarly publications for the non-physician group.
Originality/value
The current study provides insights relevant to the electronic journal access of library-supported scholarly publications among medical departments. These results can serve as a reference for medical library development planning and decision-making in the future.
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This study aims to examine the impact of China's “Manufacturing and Internet Integration Development Pilot Demonstration Project” (MIP) policy on the digital transformation (DT…
Abstract
Purpose
This study aims to examine the impact of China's “Manufacturing and Internet Integration Development Pilot Demonstration Project” (MIP) policy on the digital transformation (DT) and labor structure optimization (LSU) of manufacturing enterprises, reveal the relationship between DT and LSU at the micro level and investigate the mechanism between them.
Design/methodology/approach
This study employs MIP as a quasi-natural experiment and develops a time-varying difference-in-difference (DID) model based on a sample of 2,445 Chinese A-share listed manufacturing enterprises in the Shanghai and Shenzhen markets from 2013 to 2021.
Findings
The implementation of MIP significantly increases DT by 0.4366 and optimizes LSU by 0.0507. By enhancing the two mediated variables of organizational learning inputs (SI) and employees' personal digital cognition (PDC), DT can optimize the LSU of pilot enterprises by 0.035 and 0.034, according to the results of the mechanism analysis. The study also reveals that the impact of MIP on LSU is highly heterogeneous. With effects of 0.0691 and 0.0632, the optimization effect is more pronounced in state-owned firms and firms with low ownership concentration, respectively.
Originality/value
This study demonstrates the dual effects of the MIP pilot on DT and LSU. In addition, this study pioneers research on the significance of optimizing the labor structure through SI and PDC on the basis of DT, which provides an empirical foundation for the Chinese Government to expand the scope of MIP pilots and revise policy content, as well as for manufacturing enterprises to upgrade the labor structure.
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Shengxian Huang, Huihe Qiu and Ying Wang
Since most of the existing literature do not disclose the node coordinate data of its fixed-wing aircraft airfoil, in order to develop and obtain a practical and suitable…
Abstract
Purpose
Since most of the existing literature do not disclose the node coordinate data of its fixed-wing aircraft airfoil, in order to develop and obtain a practical and suitable deformation airfoil for fixed-wing micro air vehicle (MAV), this paper proposes an improved airfoil design method of fixed-wing MAV based on the profile data of S5010 airfoil.
Design/methodology/approach
Combined with the body shape variation of the stingray in the propulsion process, the parametric study of the aerodynamic shape of the original design airfoil is carried out to explore the influence of a single parameter change on the aerodynamic performance of the airfoil. Then, according to the influence law of single parameter variation on the aerodynamic performance of the airfoil, the original airfoil is synthetically deformed by changing multiple parameters.
Findings
By comparing the aerodynamic performance of the multi-parameter deformed airfoil with the original airfoil, it is found that the lift coefficient of the multi-parameter deformed airfoil changes from negative to positive value when AOA = 0°. When AOA = 2°, the lift coefficient growth rate is the largest, which is 47.27%, and the lift-to-drag ratio is increased by 50.00%. At other angles of attack, the lift, drag, and torque coefficients of the multi-parameter deformed airfoil are optimized to some extent.
Originality/value
Combined the body shape variation of the stingray in the propulsion process, the parametric study of the aerodynamic shape of the original design airfoil is carried out to explore the influence of a single parameter change on the aerodynamic performance of the airfoil.
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