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Financial flexibility and investment efficiency are of vital importance in strategic choices at boardrooms, particularly in post-crisis recovery strategies. This study examines the moderating effects of investment efficiency and investment scale on the relationship between financial flexibility and firm performance.

The authors use sample of 10,755 US-listed firms over the period 2010–2021 to examine the relationships between investment scale, investment efficiency, financial flexibility and firm performance. Particular attention is paid to overinvestment and underinvestment.

Findings of this study reveal that financial flexibility mitigates investment inefficiency through reducing overinvestment. Financial flexibility contributes to boost a firm’s accounting and market performance. Additionally, investment efficiency and investment scale have moderating effects on the relationship between financial flexibility and firm performance. However, the influence of investment efficiency is greater than the influence of investment scale. Finally, the authors find that the direct and indirect effects of financial flexibility are stronger on market performance than accounting performance, implying that market is more sensitive to corporate financial policies.

Findings of this study have implications for scholars, decision-makers policymakers, investors and other stakeholders.

This study has its own limitations due to the sample selection issues, country context and the research model adopted by this study.

The novel contribution to the extant literature is incorporating the influence of investment scale and investment efficiency into the relationship between financial flexibility and firm performance.

This paper aims to evaluate the efficiency and mechanism of three kinds of expired nitroimidazole antibiotics as corrosion inhibitor for mild steel in 1M HCl.

Evaluation was carried out by weight loss and electrochemical techniques. The surface morphology and the composition of the elements of adsorption layer are studied by scanning electron microscopy and energy dispersive spectrometer.

The experimental results reveal that the maximum value of inhibition efficiency appear at an extreme point of concentration with the increase of concentration of the inhibitors. Ornidazole has better corrosion inhibition than metronidazole but not as tinidazole. The inhibitors all act as cathodic type corrosion inhibitor. The adsorption of ornidazole, metronidazole and tinidazole on mild steel obeys Langmuir adsorption isotherm and belongs to chemisorption of electron donating. Combined with the molecular structure of the corrosion inhibitor and the experimental structure, the authors propose a detailed mechanism analysis.

The expired nitroimidazole antibiotics as corrosion inhibitor for mild steel in hydrochloric acid solution is first studied. It provides a way to deal with expired drugs, thereby reducing environmental pollution. The study explored the inhibition mechanism affecting by comparison different structure of three kinds of expired nitroimidazole antibiotics molecular, providing theoretical support for the preparation of the new inhibitor.

This paper aims to conduct a comparative study between the historical development of corporate social responsibility (CSR) in both the USA and China. It is motivated by the phenomenon that CSR is developing in two different directions (global vs local).

A comparative study on sustainability-linked compensation illustrates how CSR in the USA is driven by firm-level economic decisions, in which the manifestations of CSR are usually those which prove to be the most profitable financially. Moreover, a case analysis on the green bond market in China contrarily illustrates how CSR in China is usually based more on alignment with top-down, state-led initiatives in which the state directs the ways in which CSR is manifested.

This paper reveals that despite globalizing trends are attempting to unify definitions of CSR, they inevitably become localized to fit the societal needs in which they are located.

By understanding how CSR development in these two countries has changed over time, this paper shows that future developments in CSR will likely be influenced more by local practices than by converging global forces.