Search results
1 – 7 of 7Dezhi Li, Lugang Yu, Guanying Huang, Shenghua Zhou, Haibo Feng and Yanqing Wang
To propose a new investment-income valuation model by real options approach (ROA) for old community renewal (OCR) projects, which could help the government attract private…
Abstract
Purpose
To propose a new investment-income valuation model by real options approach (ROA) for old community renewal (OCR) projects, which could help the government attract private capital's participation.
Design/methodology/approach
The new model is proposed by identifying the types of options private capital has in the OCR project, selecting the option model most suitable for private capital investment decisions, improving the valuation model through the triangular fuzzy numbers to take into account the uncertainty and flexibility, and demonstrating the feasibility of the calculation model through an actual OCR project case.
Findings
The new model can valuate OCR projects more accurately based on considering uncertainty and flexibility, compared with conventional methods that often underestimate the value of OCR projects.
Practical implications
The investment-income of OCR projects shall be re-valuated from the lens of real options, which could help reveal more real benefits beyond the capital growth of OCR projects, enable the government to attract private capital's investment in OCR, and alleviate government fiscal pressure.
Originality/value
The proposed OCR-oriented investment-income valuation model systematically analyzes the applicability of real option value (ROV) to OCR projects, innovatively integrates the ROV and the net present value (NPV) as expanded net present value (ENPV), and accurately evaluate real benefits in comparison with existing models. Furthermore, the newly proposed model holds the potential to be transferred to various social welfare projects as a tool to attract private capital's participation.
Details
Keywords
Xiaolin Ge, Qing Zhang, Rui Xiong, Haibo Yu, Siyuan Liu, Shanghao Song and Xiaokun Liu
Drawing upon strengths-based inclusive work theory, this study explores how strengths-based leadership promotes employee career sustainability, particularly in the absence of…
Abstract
Purpose
Drawing upon strengths-based inclusive work theory, this study explores how strengths-based leadership promotes employee career sustainability, particularly in the absence of protean career orientation (PCO), with career adaptability as a mediator.
Design/methodology/approach
A three-wave survey of 329 Chinese employees tested the moderated mediation model. Hypotheses were assessed using SPSS 26.0 and Mplus 8.3.
Findings
Strengths-based leadership positively influences career adaptability, leading to greater career sustainability. The effect is stronger when PCO is low, highlighting the compensatory role of strengths-based leadership.
Originality/value
The present paper extends the existing literature on strengths-based leadership and unveils that strength-based leadership can compensate for a lack of PCO. Also, it augments strengths-based inclusive work theory and provides meaningful insights to cultivate employee career sustainability.
Research limitations/implications
The cross-sectional design and self-reported data limit causal conclusions. Future research should use longitudinal methods and diverse cultural contexts to improve generalizability.
Details
Keywords
This study aims to investigate the influence and impact mechanism of capital tax incentives on firm innovation.
Abstract
Purpose
This study aims to investigate the influence and impact mechanism of capital tax incentives on firm innovation.
Design/methodology/approach
This study employs the difference-in-differences (DID) method, in conjunction with the exogenous impact of accelerated depreciation (AD) pilot policy. This study selects Chinese listed companies from 2010 to 2017 as the research sample.
Findings
Firstly, AD exerts a substantial positive effect on the quantity and quality of the innovation output of firms, and the positive impact results primarily from heightened investment in fixed assets, particularly, machinery and equipment. Secondly, the influence of the policy is pronounced in non-state-owned enterprises, mature enterprises, less capital-intensive enterprises and non-high-tech industries, which all exhibit strong innovation incentives. Lastly, the tax incentive policy significantly stimulates firm innovation in the short term, but its long-term impact on innovation incentives lacks statistical significance.
Originality/value
This study highlights the significance of capital tax incentives in facilitating the innovation process in firms.
Details
Keywords
Xueying Zhou, Wentao Sun, Zehui Zhang, Junbo Zhang, Haibo Chen and Hongmei Li
The purpose of this study is to study the quantitative evaluation method of contact wire cracks by analyzing the changing law of eddy current signal characteristics under…
Abstract
Purpose
The purpose of this study is to study the quantitative evaluation method of contact wire cracks by analyzing the changing law of eddy current signal characteristics under different cracks of contact wire of high-speed railway so as to provide a new way of thinking and method for the detection of contact wire injuries of high-speed railway.
Design/methodology/approach
Based on the principle of eddy current detection and the specification parameters of high-speed railway contact wires in China, a finite element model for eddy current testing of contact wires was established to explore the variation patterns of crack signal characteristics in numerical simulation. A crack detection system based on eddy current detection was built, and eddy current detection voltage data was obtained for cracks of different depths and widths. By analyzing the variation law of eddy current signals, characteristic parameters were obtained and a quantitative evaluation model for crack width and depth was established based on the back propagation (BP) neural network.
Findings
Numerical simulation and experimental detection of eddy current signal change rule is basically consistent, based on the law of the selected characteristics of the parameters in the BP neural network crack quantitative evaluation model also has a certain degree of effectiveness and reliability. BP neural network training results show that the classification accuracy for different widths and depths of the classification is 100 and 85.71%, respectively, and can be effectively realized on the high-speed railway contact line cracks of the quantitative evaluation classification.
Originality/value
This study establishes a new type of high-speed railway contact wire crack detection and identification method, which provides a new technical means for high-speed railway contact wire injury detection. The study of eddy current characteristic law and quantitative evaluation model for different cracks in contact line has important academic value and practical significance, and it has certain guiding significance for the detection technology of contact line in high-speed railway.
Details
Keywords
Farhan Mirza and Naveed Iqbal Chaudhry
Civil service workers are valuable resources for any nation and play a crucial role in driving their country’s economic development. Per the supervisor, this research examines the…
Abstract
Purpose
Civil service workers are valuable resources for any nation and play a crucial role in driving their country’s economic development. Per the supervisor, this research examines the impact of mindfulness, proactive personality, and career competencies on employee job performance. The study also analyzes the effects of career adaptability and identity on this aspect.
Design/methodology/approach
To test the model of this study, questionnaires were administered to a sample of 500 civil service employees whose career-based knowledge and skills were measured in various cities in the province of Punjab, Pakistan.
Findings
Mindfulness and career competencies significantly impact supervisor-rated task performance, whereas a proactive personality does not substantially relate to supervisor-rated task performance. Research indicated that the two hypotheses about mediation were accepted. However, career adaptability does not play a significant role in the link between mindfulness and how well a supervisor rates task performance. Regarding moderation, career identity did not significantly moderate the relation between proactive personality and supervisor-rated task performance. However, the other two moderate hypotheses have been proven to be significant.
Research limitations/implications
The findings offer compelling support for career construction theory (CCT) in this study area by analyzing the connections related to career adaptability and identity within the framework. In the future, researchers can build on this model by adding theories like conservation of resources (COR), looking into possible moderators that might change specific pathways in this network of relationships and using longitudinal designs to find stronger causal relationships.
Originality/value
Considering the evolving workplace due to the COVID-19 pandemic, the study offers fresh perspectives on the post-COVID situation, understanding and integrating various variables. For future studies, more variables can be explored in this model with the expansion of sample size and change of context.
Details
Keywords
Bing Zhang, Cui Wang and Xuan Ze Ren
The construction industry has been investigating “where Henry Ford is in the industry system.” Given that listed construction enterprises are the backbone of the promotion of the…
Abstract
Purpose
The construction industry has been investigating “where Henry Ford is in the industry system.” Given that listed construction enterprises are the backbone of the promotion of the high-quality development of the industry, their research and innovation are of considerable importance. This study aims to comprehensively assess the research and development (R&D) status quo and trends within various types of construction enterprises in order to identify effective strategies to enhance R&D efficiency in the construction industry.
Design/methodology/approach
Based on the data won from annual reports and the CSMAR database for the period 2016–2020, this study examines 104 listed construction enterprises in China. By applying both the data envelopment analysis (DEA) method and the Malmquist productivity index, this research compares and analyzes the static and dynamic differences in R&D efficiency across different types of construction enterprises.
Findings
Results suggest that the magnitude of change in the Malmquist decomposition index of 104 listed construction enterprises gradually narrowed, but the comprehensive technological level remained relatively low. Although state-owned enterprises had an advantage in scale efficiency, meaning they could maximize output with given inputs, their technological progress efficiency, also known as the degree of technological innovation, was significantly lower than that of private enterprises. As one finding, state-owned enterprises in comparison with private enterprises experience significant R&D inefficiency. It represents the main cause of their low degree of technological innovation and efficiency.
Originality/value
This study assesses the R&D efficiency of listed construction enterprises in China from the perspective of different market segments, state-owned and private enterprises and suggests approaches to improve strategies for various corporate types. Thus, the study’s new findings contribute to addressing the challenge of low R&D levels in the construction industry in the fields of engineering, construction and architectural management.
Details
Keywords
Hauwah K.K. AbdulKareem, Sodiq Olaiwola Jimoh and Rashidat Sumbola Akande
With the rising global emphasis on sustainable development (SD) and the attendant race to attain the sustainable development goals (SDGs), this study empirically examines the…
Abstract
Purpose
With the rising global emphasis on sustainable development (SD) and the attendant race to attain the sustainable development goals (SDGs), this study empirically examines the effect of the finance–economic growth nexus on SD in West Africa for the period 1970 to 2020.
Design/methodology/approach
The study adopted the panel autoregressive distributive lag (PARDL) and rests on the estimates of the pooled mean group (PMG) model in line with the outcome of the Hausman test.
Findings
The result indicates that financial development reinforces the positive influence of economic growth on SD in addition to the direct incremental impact they wield on SD. This suggests that financial development is one of the “influencing factors” and is positioned to potentially improve the relationship between economic growth and SD in West Africa. Findings further reveal that foreign direct investment (FDI) enhances the achievement of SD in West Africa whereas carbon dioxide (CO2) emissions and natural resource rent (NRR) are found to exert a deteriorating impact.
Practical implications
Since financial development is found to enhance the growth–SD relationship, it is crucial to pursue domesticated, inclusive and self-sustaining growth policies as well as promote financial inclusion, remove bottlenecks and inefficiencies in the financial system and adopt the principles of the 3 Rs - “reduce, reuse and recycle.”
Originality/value
Compared to previous studies that examined the effect of financial development and growth on SD separately, the present study interacted both to see how financial development can influence the economic growth–SD nexus.
Details