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The authors examine the role of CEO political ideology in the credit rating process.

This study adopts a quantitative method with panel data regressions using a sample of 5,211 observations from S&P 500 firms from 2001 to 2012.

The authors find that firms run by Republican-leaning CEOs, who tend to have conservative political ideologies, enjoy more favorable credit ratings than firms run by Democratic-leaning CEOs. In addition, the association between CEO political ideology and credit ratings is more pronounced for firms with high operating uncertainty, low capital intensity, high growth potential, weak corporate governance and low financial reporting quality. Finally, the authors find that CEO political ideology affects a firm's cost of debt incremental to credit ratings, consistent with debt investors incorporating CEO political ideology in their pricing decisions.

Leveraging CEO political ideology, the authors document that credit rating agencies incorporate managerial conservatism in their credit rating decisions. This finding suggests that CEO political ideology serves as a meaningful signal for managerial conservatism.

The study suggests that credit rating agencies incorporate CEO political ideology in their credit rating process. Other capital market participants such as auditors and retail investors can also use CEO political ideology as a proxy for managerial conservatism when evaluating firms.

The paper carries practical implications for practitioners, firm executives and regulators. The results on the association between CEO political ideology and credit ratings suggest that other financial institutions could also incorporate CEO political ideology in their evaluation in their evaluation of firms. For example, when evaluating audit risk and determining audit pricing, auditors may add CEO political ideology as a risk factor. For firms, especially those that have Democratic-leaning CEOs, the authors suggest that they could reduce the unfavorable effect of CEO political ideology on credit ratings by improving their corporate governance and financial reporting quality, as demonstrated in the cross-sectional analyses. Finally, this study shows that CEO political ideology, as measured by CEOs' political contributions, is closely related to a firm's credit ratings. This finding may inform regulators that greater transparency for CEOs' political contributions is needed as information on contributions could help capital market participants perform risk analyses for firms.

Credit rating agencies release their research methodologies for determining corporate credit ratings and identify managerial conservatism as an important factor that affects their risk assessments. The extant literature, however, has not empirically investigated the relation between credit ratings and managerial conservatism, which, according to behavioral consistency theory, can be proxied by CEO political ideology. This study provides novel empirical evidence that identifies CEO political ideology as an important input factor in the credit rating process.

The purpose of this paper is to examine how a Chinese entrepreneur, Zhang Yin, exercises international entrepreneurship in her paper recycle business – Nine Dragons Paper company, and has become one of the most successful female business women in the world.

The paper uses an in‐depth case study or storytelling approach to explain the economic success of a Chinese female entrepreneur, Zhang Yin and her Nine Dragons Paper company. The illustration of Zhang's global coordination is divided into three parts: first, from Shenzhen, China to Hong Kong; second, from Hong Kong to Los Angeles; and finally, from the USA back to her home country, China.

This case illustrates and concludes that the business success of a paper recycling enterprise, namely Nine Dragons Paper, is attributable to the global coordination efforts of its founder, Zhang Yin, who is able to identify profit opportunities around the globe. With correct foresight, Zhang Yin is able to overcome cultural barriers, and venture into foreign markets. Her international entrepreneurship and global coordination enable world resources to be allocated in the most efficient way.

Austrian economics, using storytelling approach, can be a very useful tool in interpreting entrepreneurial behavior and business strategies.

The case provides us with an understanding of how the entrepreneur can earn profit by being alert to opportunities.

The case is the first of its kind to illustrate the international coordination function of a female Chinese entrepreneur and her paper recycle business.

This study aims to investigate the effects of interaction in agricultural product live rooms, including personalization, responsiveness, and entertainment, on consumers’ purchase intention.

The SOR model has been applied to formulate hypotheses. This study is based on an online survey conducted with a sample of 433 valid questionnaires from Chinese consumers on the TikTok agricultural products live platform. A partial least squares structural equation modeling (PLS-SEM) is used to test the hypotheses.

The findings indicate that (1) interactions (personalization, responsiveness, and entertainment) in the agricultural products live room have a positive effect on perceived values (utilitarian value, symbolic value, and entertainment value); (2) utilitarian value positively affects purchase intention and mediates the effects of personalization and entertainment interactions on purchase intention, respectively; (3) entertainment value positively influences purchase intention and mediates the influence of entertainment interaction on purchase intention.

This study offers theoretical insights into live marketing of agricultural products and practical implications for practitioners of agricultural products in live streaming commerce.

Project complexity is a critical issue that has increasingly attracted attention in both academic and practical circles. However, there are still many gaps in the research on project complexity, such as the differentiated conceptualization of complexity and disjointed operationalization in the measurements. Therefore, this paper aims to conduct a systematic and detailed literature review on the concept, dimensions, assessment, and underlying mechanisms of project complexity.

A systematic literature review methodology was applied to search and synthesize the research on project complexity, and a final sample of 74 journal articles was identified.

This study first summarizes the concepts of project complexity from three different theoretical perspectives, and then identifies different approaches of measurement, evaluation, or simulation to assess project complexity. This paper finally establishes an integrative framework to synthesize the antecedents, mediators and moderators, and outcomes of project complexity, generating four suggestions for future research.

This study summarizes the definition and operationalization of project complexity to reduce the discrepancies in the existing research and offers an integrative framework to offer a broad overview of the current understanding of project complexity, providing a potential way forward for addressing project complexity.

In any time and space and under any circumstance, we find peasants are never passive actors in their livelihoods and rural development. Instead, they always create space for manoeuvre in order to make changes. This chapter analyses the innovative actions taken by the majority of rural inhabitants in rural areas during the overwhelming modernization process, so as to affirm that peasants are the main actors of rural development. It is they who have shaped the transformation of rural societies and the history. Through the analysis, this chapter concludes that rural development is not an objective, a blueprint nor a design. It is not the to-be-developed rear field in modernization. It is not the babysitter for cities, nor a rehearsal place for bureaucrats to testify their random thoughts. Rural development is what peasants do. The path they have chosen reveals scenery so different from modernization. If we regard development as a social change, or a cross with influential meanings, we could understand rural development as peasants’ victories over their predicament. Villages accommodate not only peasants, but without peasants villages would surely vanish. In this sense, the most important part in rural development or rural change is peasants – their conditions and their feelings.

The purpose of this paper is to explain the miraculous rise of the mobile phone industry in China in particular and China’s impressive industrial growth in recent decades in general.

This paper uses qualitative or story-telling approach for empirical analysis. Specifically, it uses case studies to illustrate the authors’ arguments.

Utilizing the theory of imitative strategies of latecomer firms and I.M. Kirzner’s concept of entrepreneurial alertness, this paper argues that adaptive entrepreneurs in China’s phone industry survive by being alert to profit opportunities, flexible and adaptable to the changing environments. With limited resources and low technological capabilities at the beginning, Chinese phone makers conduct replication via reverse engineering. Through entrepreneurial learning and imitation, they are able to make indigenous or incremental innovation. The modified models with functions compatible to different groups of consumers and sold at low prices are able to penetrate the low-end markets in the Third World nations.

The authors’ explanation on the success of China’s mobile phone industry sheds light on broader China’s industrial growth as a result of economic reform.

Most studies on China’s mobile phone industry focus on technological analysis, without acknowledging the role of entrepreneurship. This study fills the gap.

The purpose of this paper is to examine the interaction effects of spokes-character dynamism (high vs low) and brand personality (sincere vs competent) on consumers’ evaluation and the mediating role of processing fluency.

Two experiments were conducted to test the hypotheses. Study 1 establishes the interaction effect between evoked spokes-character dynamism and brand personality on brand trust and examines the mediating role of processing fluency. By introducing a control group and using purchase intention as the dependent variable, Study 2 further extends the results of Study 1.

The results of Studies 1 and 2 show that for sincere brands, spokes-characters with high dynamic imagery contribute to significantly higher consumer evaluation than the control group and the group of spokes-characters with low dynamic imagery. However, for competent brands, spokes-characters with low dynamic imagery contribute to significantly higher consumer evaluation than the control group and the group of spokes-characters with high dynamic imagery. In addition, processing fluency mediates the interaction effect between evoked spokes-character dynamism and brand personality on consumers’ evaluation.

The studies considered only one method, “frozen motion,” to evoke perceived movement. Further studies using other methods are needed to allow for generalization.

The discerning use of dynamic imagery in spokes-character design involving advertisements may aid marketers in maximizing spokes-characters’ effect on consumers’ evaluation.

The perceived movement of spokes-characters is integrated into the cognition of brand personality. Marketers should take into account how the match between spokes-character dynamism and brand personality may influence consumers’ evaluation of the brand.

The purpose of this paper is to study the effects of Cl⁻ and direct stray current on the soil corrosion of three grounding grid materials.

The electrochemical corrosion properties of three grounding grid materials, which include the Q235 steel, Q235 galvanized flat steel and copper, were measured by means of the weak polarization curve method and electrochemical impedance spectroscopy; the corrosion rate of specimens was calculated using the weight loss method; and the specimen surfaces were characterized using the scanning electron microscopy, energy-dispersive spectroscopy and X-ray diffraction analysis.

Results showed that both factors, Cl⁻ and direct stray current, can accelerate the corrosion rate of grounding grid materials. The magnitude of DC stray current density affected the mass transfer type and response frequency of the anode and cathode reaction of grounding materials, while the Cl⁻ contents of the soil only affect the mass transfer rate of the electrode material from the electrochemical impedance spectroscopy diagrams. The electric field generated by the DC stray current caused Cl⁻ directed migration. The larger the DC stray current density, the greater the diffusion process and the greater the weight loss rate of the grounding grid materials that would have a logarithmic relationship with the Cl⁻ content at the same DC stray current density. The corrosion resistance of the three materials is copper > Q235 galvanized flat steel > Q235 flat steel.

The paper provides information regarding the relationship among Cl⁻, direct stray current and corrosion of three grounding grid materials by means of electrochemical impedance spectroscopy. Meanwhile the weight loss rate is the logarithmic relationship with the Cl⁻ content, which is useful for understanding the corrosion mechanism of Q235 steel, Q235 galvanized flat steel and copper under the condition of Cl⁻ and direct stray current in soil.