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This study examines the impact of debt maturity structure on stock price crash risk (SPCR) in Asian economies and the moderating effect of firm age on this relationship.

The study utilized annual data from 432 nonfinancial firms publicly listed in six Asian countries: China, Hong Kong, Japan, Singapore, Pakistan and India. The observation period covers 14 years, from 2007 to 2020. The sample was categorized into three groups: the entire sample and one group each for developing and developed Asian economies. A generalized least squares panel regression method was employed to test the research hypotheses.

The results suggest that long-term debt has a significant negative influence on SPCR in Asian economies, indicating that firms with high long-term debt experience lower future SPCR. Moreover, firm age negatively moderates this relationship, implying that older firms may experience a more pronounced reduction in SPCR due to high long-term debt. Finally, firms in developed Asian economies with high long-term debt are more effective in mitigating the risk of a significant drop in their stock prices than firms in developing Asian economies.

This study contributes to the literature in several ways. To the best of the researcher’s knowledge, this is the first of such efforts to investigate the relationship between debt maturity structure and crash risk in Asia. Additionally, it reveals that long-term debt influences SPCR directly and indirectly in Asia through the moderating role of firm age. Lastly, it is likely one of the first studies by a research team in Asia to compare the nonfinancial markets of developed and developing Asian countries.

Nowadays, artificial intelligence (AI) technology has demonstrated extensive applications in the field of art design. Attribute editing is an important means to realize clothing style and color design via computer language, which aims to edit and control the garment image based on the specified target attributes while preserving other details from the original image. The current image attribute editing model often generates images containing missing or redundant attributes. To address the problem, this paper aims for a novel design method utilizing the Fashion-attribute generative adversarial network (AttGAN) model was proposed for image attribute editing specifically tailored to women’s blouses.

The proposed design method primarily focuses on optimizing the feature extraction network and loss function. To enhance the feature extraction capability of the model, an increase in the number of layers in the feature extraction network was implemented, and the structure similarity index measure (SSIM) loss function was employed to ensure the independent attributes of the original image were consistent. The characteristic-preserving virtual try-on network (CP_VTON) dataset was used for train-ing to enable the editing of sleeve length and color specifically for women’s blouse.

The experimental results demonstrate that the optimization model’s generated outputs have significantly reduced problems related to missing attributes or visual redundancy. Through a comparative analysis of the numerical changes in the SSIM and peak signal-to-noise ratio (PSNR) before and after the model refinement, it was observed that the improved SSIM increased substantially by 27.4%, and the PSNR increased by 2.8%, serving as empirical evidence of the effectiveness of incorporating the SSIM loss function.

The proposed algorithm provides a promising tool for precise image editing of women’s blouses based on the GAN. This introduces a new approach to eliminate semantic expression errors in image editing, thereby contributing to the development of AI in clothing design.

This study aims to analyze the relationship of mass versus niche brand coolness on consumers’ brand loyalty, mediated by attitude toward the brand and moderated by conspicuous consumption; test the moderating role of conspicuous consumption and the mediating role of attitude between mass versus niche cool brand and brand love; and analyze whether results are stable when categorizing the luxury brands as niche versus mass cool brand.

Study 1 uses a panel sample to establish the mediating role of attitude toward the brand between perceptions of brand coolness and brand loyalty. Study 2 is an experimental survey study to describe the moderating role of conspicuous consumption on the relationship between mass/niche brand coolness and brand love and between mass/niche coolness and attitude toward the brand. Study 3 is a conjoint analysis that delineates the distinct factors that consumers attribute to mass versus niche cool brands in the luxury fashion arena.

This study demonstrates that attitudes mediate the relationship between brand coolness and brand loyalty. Conspicuous consumption only moderates the relationship between brand coolness and attitudes in the case of niche cool brands. In a realistic field experiment, the authors confirm the mediating impact of attitude and the moderating influence of conspicuous consumption. The authors also attempt to provide coolness dimensions that tend to be more associated with mass luxury brands and those more related to niche luxury brands.

These studies provide a fresh look at the concept of brand coolness, mass and niche cool brands in the context of luxury fashion brands.

Esta investigación pretende (1) analizar la relación entre el atractivo de las marcas de nicho y de masas y la lealtad a la marca de los consumidores, mediada por la actitud hacia la marca y moderada por el consumo conspicuo, (2) comprobar el papel moderador del consumo conspicuo y el papel mediador de la actitud entre el atractivo de las marcas de nicho y de masas y el amor por la marca y (3) analizar si los resultados son estables al categorizar las marcas de lujo como de nicho o de masas.

Demostramos que las actitudes median en la relación entre el “coolness” y la fidelidad a una marca. El consumo ostentoso sólo modera la relación entre el “coolness” de la marca y las actitudes en el caso de las marcas “cool” de nicho. En un experimento de campo realista, confirmamos el efecto mediador de la actitud y la influencia moderadora del consumo ostentoso. También intentamos proporcionar las dimensiones del coolness que tienden a asociarse más con las marcas de lujo de masas y las que están más relacionadas con las marcas de lujo de nicho.

El primer estudio utiliza una muestra de panel para establecer el papel mediador de la actitud hacia la marca entre las percepciones del atractivo de la marca y la fidelidad a la misma. El segundo es un estudio experimental que describe el papel moderador del consumo ostentoso en la relación entre el atractivo de las marcas de masas/nicho y el amor por la marca, y entre el atractivo de las marcas de masas/nicho y la actitud hacia la marca. El último estudio es un análisis conjunto que delinea los distintos factores que los consumidores atribuyen a las marcas de moda de masas frente a las de nicho en el ámbito de la moda de lujo.

Estos estudios aportan una nueva mirada al concepto de “coolness” de marca, marcas “cool” de masas y marcas “cool” de nicho en el contexto de las marcas de moda de lujo.

本研究旨在：（1）分析大众品牌酷与小众品牌酷对消费者品牌忠诚度的关系, 以对品牌的态度为中介, 以显性消费为调节; （2）检验显性消费的调节作用以及态度在大众品牌酷与小众品牌酷与品牌喜爱之间的中介作用; （3）分析将奢侈品牌分为小众品牌酷与大众品牌酷时, 结果是否稳定。

第一项研究使用小组样本, 以确定对品牌的态度在品牌酷感和品牌忠诚度之间的中介作用。第二项研究是一项实验性调查研究, 目的是描述显性消费对大众/小众品牌酷感与品牌喜爱之间以及大众/小众品牌酷感与品牌态度之间关系的调节作用。最后一项研究是一项联合分析, 旨在界定消费者对奢侈时尚领域中大众与小众酷品牌的不同评价因素。

研究结果 我们证明, 态度是品牌酷感与品牌忠诚度之间关系的中介。只有在小众酷品牌的情况下, 显性消费才会调节品牌酷度与态度之间的关系。在一个真实的现场实验中, 我们证实了态度的中介作用和显性消费的调节作用。我们还试图提供与大众奢侈品牌更相关的酷感维度, 以及与小众奢侈品牌更相关的酷感维度。

这些研究以奢侈时尚品牌为背景, 重新审视了品牌酷度、大众和小众酷度品牌的概念。

This paper aims to design an active shock absorber scheme for use in conjunction with a passive shock absorber to suppress the horizontal vibration of elevator cars in a smaller range and shorter time. The developed active shock absorber will also improve the safety and comfort of passengers driving in ultra-high-speed elevators.

A six-degree of freedom dynamic model is established according to the position and condition of the car. Then the active shock absorber and disturbance compensation-based adaptive control scheme are designed and simulated in MATLAB/Simulink. The results are analysed and compared with the traditional shock absorber.

The results show that, compared with traditional spring-based passive damping systems, the designed active shock absorber can reduce vibration displacement by 60%, peak acceleration by 50% and oscillation time by 2/3 and is more robust to different spring stiffness, damping coefficient and load.

The developed active shock absorber and its control algorithm can significantly reduce vibration amplitude and converged time. It can also adjust the damping strength according to the actual load of the elevator car, which is more suitable for high-speed elevators.

This study aims to explore the relationship between the degree of state-owned enterprises’ (SOEs) mixed reform and the environmental response of enterprises, against the background of actively promoting the reform of mixed ownership in China.

The study is conducted on a sample of A-share listed manufacturing companies in Shanghai and Shenzhen of China, investigated for the period 2015 to 2020. The baseline regression results are robust to a series of robustness and endogeneity tests. To deal with the issue of endogeneity, the technique of instrumental variable method has been applied.

The study confirms the U-shaped effect of the depth and restriction of mixed ownership on SOEs’ environmentally responsive behaviour in the manufacturing industry, especially for lower environmental regulation and higher level of risk-taking firms. The findings indicate that the government, shareholders and other stakeholders of enterprises should not simply consider that the mixed reform is directly promoting or reducing the environmental response behaviour of enterprises.

SOEs should improve their shareholding structures to undermine performance enhancement at the expense of the environment and increase environmentally beneficial behaviours. Regulators and governments should improve the institutional mechanism of environmental regulation and make efforts to promote corporate awareness of the environment.

Although the adoption and implementation of environmentally friendly policies are costly, improved environmental response and other social responsibilities are helpful to corporate long-term growth and reputation and obtain more capital market attention. Therefore, firms would benefit from improving their environmental response to protect nature, as well as to enjoy the economic and social benefits of a better environmental response.

To the best of the authors’ knowledge, there is a lack of studies focussing on the environmental behaviour of SOEs of mixed reform. As the mixed reform in China has come to a climax phase in recent several years, SOEs of mixed reform is an ideal environment for research. The study focusses on manufacturing firms as these firms are more susceptible to contribute to environmental pollution, exploitation of natural resources and labour concerns.

The purpose of this paper is to present the influence of inter-turn short circuit faults (ITSF) on electromagnetic vibration in high-voltage line-starting permanent magnet synchronous motor (HVLSPMSMS).

In this paper, the ampere–conductor wave model of HVLSPMSM after ITSF is established. Second, a mathematical model of the magnetic field after ITSF is established, and the influence law of the ITSF on the air-gap magnetic field is analyzed. Further, the mathematical expression of the electromagnetic force density is established based on the Maxwell tensor method. The impact of HVLSPMSM torque ripple frequency, radial electromagnetic force spatial–temporal distribution and rotor unbalanced magnetic tension force by ITSF is revealed. Finally, the electromagnetic–mechanical coupling model of HVLSPMSM is established, and the vibration spectra of the motor with different degrees of ITSF are solved by numerical calculation.

In this study, it is found that the 2np order flux density harmonics and (2 N + 1) p order electromagnetic forces are not generated when ITSF occurs in HVLSPMSM.

By analyzing the multi-harmonics of HVLSPMSM after ITSF, this paper provides a reliable method for troubleshooting from the perspective of vibration and torque fluctuation and rotor unbalanced electromagnetic force.

The aim of this review is to present together the studies on textile-based moisture sensors developed using innovative technologies in recent years.

The integration levels of the sensors studied with the textile materials are changing. Some research teams have used a combination of printing and textile technologies to produce sensors, while a group of researchers have used traditional technologies such as weaving and embroidery. Others have taken advantage of new technologies such as electro-spinning, polymerization and other techniques. In this way, they tried to combine the good working efficiency of the sensors and the flexibility of the textile. All these approaches are presented in this article.

The presentation of the latest technologies used to develop textile sensors together will give researchers an idea about new studies that can be done on highly sensitive and efficient textile-based moisture sensor systems.

In this paper humidity sensors have been explained in terms of measuring principle as capacitive and resistive. Then, studies conducted in the last 20 years on the textile-based humidity sensors have been presented in detail. This is a comprehensive review study that presents the latest developments together in this area for researchers.

Corporate digital transformation (CDT) has challenged traditional tax administration systems. This study examines the impact of CDT on tax avoidance behavior and tests whether tax authorities can identify this behavior.

Using data on listed companies on the Shanghai and Shenzhen Stock Exchanges from 2008 to 2020, this study applies the Heckman two-stage and cross-section models.

The results show that the higher the degree of CDT, the more aggressive the tax avoidance behavior. The CDT's impact on corporate tax avoidance is more significant under strong government tax efforts.

This study expands research on the economic consequences of CDT and the factors influencing corporate tax avoidance behavior. Moreover, it has important implications for governments to monitor tax avoidance behavior under the CDT, improve digital tax systems, and pay more attention to the tax administration of digital assets.

Polyethylene terephthalate (PET) as a fiber molding polymer is widely used in aerospace, electrical and electronic, clothing and other fields. The purpose of this study is to improve the thermal insulation performance of polyethylene terephthalate (PET), the SiO₂ aerogel/PET composites slices and fibers were prepared, and the effects of the SiO₂ aerogel on the morphology, structure, crystallization property and thermal conductivity of the SiO₂ aerogel/PET composites slices and their fibers were systematically investigated.

The mass ratio of purified terephthalic acid and ethylene glycol was selected as 1:1.5, which was premixed with Sb₂O₃ and the corresponding mass of SiO₂ aerogel, and SiO₂ aerogel/PET composites were prepared by direct esterification and in-situ polymerization. The SiO₂ aerogel/PET composite fibers were prepared by melt-spinning method.

The results showed that the SiO₂ aerogel was uniformly dispersed in the PET matrix. The thermal insulation coefficient of PET was significantly reduced by the addition of SiO₂ aerogel, and the thermal conductivity of the 1.0 Wt.% SiO₂ aerogel/PET composites was reduced by 75.74 mW/(m · K) compared to the pure PET. The thermal conductivity of the 0.8 Wt.% SiO₂ aerogel/PET composite fiber was reduced by 46.06% compared to the pure PET fiber. The crystallinity and flame-retardant coefficient of the SiO₂ aerogel/PET composite fibers showed an increasing trend with the addition of SiO₂ aerogel.

The SiO₂ aerogel/PET composite slices and their fibers have good thermal insulation properties and exhibit good potential for application in the field of thermal insulation, such as warm clothes. In today’s society where the energy crisis is becoming increasingly serious, improving the thermal insulation performance of PET to reduce energy loss will be of great significance to alleviate the energy crisis.

In this study, SiO₂ aerogel/PET composite slices and their fibers were prepared by an in situ polymerization process, which solved the problem of difficult dispersion of nanoparticles in the matrix and the thermal conductivity of PET significantly reduced.

For some years now, Cameroon has seen a significant increase in its electricity demand, and this need is bound to grow within the next few years owing to the current economic growth and the ambitious projects underway. Therefore, one of the state's priorities is the mastery of electricity demand. In order to get there, it would be helpful to have reliable forecasting tools. This study proposes a novel version of the discrete grey multivariate convolution model (ODGMC(1,N)).

Specifically, a linear corrective term is added to its structure, parameterisation is done in a way that is consistent to the modelling procedure and the cumulated forecasting function of ODGMC(1,N) is obtained through an iterative technique.

Results show that ODGMC(1,N) is more stable and can extract the relationships between the system's input variables. To demonstrate and validate the superiority of ODGMC(1,N), a practical example drawn from the projection of electricity demand in Cameroon till 2030 is used. The findings reveal that the proposed model has a higher prediction precision, with 1.74% mean absolute percentage error and 132.16 root mean square error.

These interesting results are due to (1) the stability of ODGMC(1,N) resulting from a good adequacy between parameters estimation and their implementation, (2) the addition of a term that takes into account the linear impact of time t on the model's performance and (3) the removal of irrelevant information from input data by wavelet transform filtration. Thus, the suggested ODGMC is a robust predictive and monitoring tool for tracking the evolution of electricity needs.