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Does the history of the bureaucratic system, along with the establishment of the Great Wall during the Ming and Qing dynasties (1368–1911), affect firm behavior across the borderlands of the Great Wall?

The Ming and Qing dynasties built a centralized administrative system in the borderlands on the south side of the Great Wall, in contrast to the “feudal lordship” system on the north side. Employing a regression discontinuity analysis framework with the Great Wall as a geographical discontinuity, we examine the long-run effects of the Great Wall on firms’ earnings management.

Using a large sample of nonlisted firms in the central core frontier region, we show that the earnings management of firms in the region south of the Great Wall is significantly curtailed compared with firms in the north of it, and this effect is more pronounced for non-SOEs. Our findings are robust to a battery of tests to account for alternative explanations.

Overall, by emphasizing the role of institutions, like legal system, shaped in history on firms’ earnings management, this study sheds new light on institutional determinants of firms’ behaviors in earnings information disclosure.

First, we enrich our understanding of the institutional determinants of firms’ financial reporting outcomes. Second, our findings shed new light on the long-term effects of historical ruling styles on modern corporate behavior.

Drawing on the principal-agent theoretical perspective, we assert that sellers’ opportunism is acknowledged as an essential component that could determine the quality of the relationship between buyers (principals) and sellers (agents). The primary aim of this research is to investigate the influence of seller behavior vs outcome-based reputation and seller’s perceived freedom on opportunistic behavior in the Chinese e-commerce platform context.

The data collected from 436 e-commerce platform sellers were analyzed and interpreted using structural equation modeling.

The results indicate that both behavior-based and outcome-based reputations positively impact sellers’ perceived freedom but negatively impact their opportunism. Additionally, while perceived freedom of objectives reduces opportunism, freedom of action increases it. The study also highlights the significant moderating roles of prevention mechanisms and ethical ideology.

This study extends the principal-agent perspective by integrating the seller’s reputation as a potential source of preventing sellers from behaving opportunistically on e-commerce platforms.

Market evaluation of products is the basis for product innovation, yet traditional expert-based evaluation methods are highly dependent on the specialization of experts. There exist a lot of weak expert-generated texts on the Internet of their own subjective evaluations of products. Analyzing these texts can indirectly extract the opinions of weak experts and transform them into decision-support information that assists product designers in understanding the market.

In social networks, a subset of users, termed “weak experts”, possess specialized knowledge and frequently share their product experiences online. This study introduces a comparative opinion mining framework that leverages the insights of “weak experts” to analyze user opinions.

An automotive product case study demonstrates that evaluations based on weak expert insights offer managerial insights with a 99.4% improvement in timeliness over traditional expert analyses. Furthermore, in the few-shot sentiment analysis module, with only 10% of the sample, the precision loss is just 1.59%. In addition, the quantitative module of specialization weighting balances low-specialization expert opinions and boosts the weight of high-specialization weak expert views. This new framework offers a valuable tool for companies in product innovation and market strategy development.

This study introduces a novel approach to opinion mining by focusing on the underutilized insights of weak experts. It combines few-shot sentiment analysis with specialization weighting and AHP, offering a comprehensive and efficient tool for product evaluation and market analysis.

The main purpose of this study is to investigate the impact of state capital participation (SCP) on the corporate environmental engagement (CEE) of privately controlled listed firms in China.

We use a sample of 20,133 firm-year observations from 2009 to 2021. We use three different measures to proxy corporate environmental engagement and two different measures to proxy for state capital participation. We employ a difference-in-difference regression model to estimate the effect of state capital participation on corporate environmental engagement.

Using a sample of 20,133 firm-year observations from 2009 to 2021, we find that SCP significantly increases corporate expenditure on environmental protection, corporate environmental performance and ESG ratings. Specifically, SCP increases environmental investment capacity and attracts more media coverage, online attention and analysts’ following, which leads to better environmental engagement. Further analyses show that after state shareholders exit privately controlled firms, CEE deteriorates, while private capital injection in state-owned firms has no significant impact on CEE. The positive effect of SCP is stronger in privately controlled firms with local government ownership, a larger number of state shareholders, longer state shareholder holding periods, those without politically connected managers and firms operating in heavy pollution industries. Lastly, we show that minority government ownership reduces firm-level toxic emissions and enhances financial performance.

We enrich the literature on the role of minority state ownership in corporate financial and environmental performance.

We enrich the literature on the role of minority state ownership in corporate financial and environmental performance. In light of the escalating environmental concerns and the growing emphasis on corporate environmental responsibility, this study highlights the beneficial role of minority government ownership in driving environmental performance. By providing resources and attracting external scrutiny, the government, as a minority shareholder, can significantly enhance the environmental engagement of privately controlled firms.

Mega construction projects (megaprojects) require technological innovation cooperation (TIC) to address complex construction demands and the interests of multiple stakeholders. Although TIC has been extensively discussed at the firm level, a significant gap remains in understanding megaprojects at the project level. This paper aims to identify TIC’s influencing factors and transmission paths and discuss stakeholders’ TIC mechanisms at the project level.

Based on case analysis, expert interviews, literature analysis and the Delphi method, this paper identifies the influencing factors of TIC in megaprojects at the project level. A structural system of these influencing factors is constructed by interpretive structural modeling (ISM), developing various mechanisms for TIC from bottom to top. The Matriced’ Impacts Croisés Multiplication Appliquée à un Classement (MICMAC) method validates the driving forces and dependencies of the influencing factors, clarifying their roles and positions within the system. Additionally, the TIC mechanism is constructed.

The research findings identify 26 influencing factors categorized into four hierarchical levels: cooperative relationships, cooperative behavior, cooperative performance and technological innovation risks. Regarding direct factors, resource sharing affects goal congruence and communication effectiveness in megaprojects, affecting TIC’s satisfaction and trust. Most factors exist in the middle layer, and bridging the upper and lower levels depends on stakeholder collaboration. The root factors in the independent group significantly impact TIC, including policy circumstances, high technical requirements and limited site conditions. Addressing these issues influences improvements in other factors. The development of a digital resource-sharing platform, the enhancement of innovation incentives, the optimization of benefit distribution mechanisms and the improvement of risk-sharing mechanisms are essential for the effective operation of the TIC mechanism.

This study contributes to identifying and classifying challenges and opportunities in TIC. It explores transmission paths for enhancing TIC and presents strategies for successfully implementing and delivering megaprojects.

To deepen the structural reform of the financial system on the supply side and mitigate associated risks in the economic and financial fields, with significant practical implications for FinTech development.

Based on microdata of listed companies, this paper constructs multi-level indicators of FinTech development. Robustness tests include alternative measures of the degree of long-term use of short-term debts, sample adjustments and heterogeneity in firm characteristics and regional differences.

FinTech can significantly alleviate the long-term use of short-term corporate debt, although there are heterogeneous effects. The alleviation effect is more pronounced for state-owned enterprises, non-technology-intensive enterprises and other companies with lower levels of short-term debt maturity. Additionally, in regions with high capital mismatch and high levels of financial development, FinTech exhibits a significant suppressive effect on the long-term use of short-term corporate debt.

The paper suggests promoting the diversification of FinTech products, emphasizing the importance of inclusive finance through FinTech, and driving China’s economic transformation and high-quality development.

By constructing a theoretical analysis framework of “FinTech—corporate investment and financing term mismatch,” this paper provides a multi-level estimation of the factors influencing FinTech’s impact on the long-term use of short-term corporate debt. This framework aids in developing a more dialectical and objective understanding of the economic effects of FinTech’s development.

In a reflection of individuals’ interest in maintaining a healthy lifestyle, nutraceutical restaurants, which provide health benefits, have emerged on the market. However, little is known about the underlying factors and mechanisms of the consumption of nutraceutical foods. Therefore, grounded in an extended cognitive–affective–conative model, this study examines the role of dining motivations and restaurant attributes in explaining an integrated model that focuses on customers’ loyalty formation process.

Data were collected from 893 Chinese customers who had recently dined at traditional Chinese medicine restaurants. Using partial least squares structural equation modeling, this study examined the structural relationships among dining motivations, restaurant attributes, customers’ perceived benefits, overall satisfaction, place attachment and revisit intentions.

The results of a confirmatory factor analysis revealed that two main motivations (i.e. health and traditional culture) and five restaurant attributes (i.e. food, service staff food recommendation, service staff service quality, furniture and tableware and atmosphere) are stimuli that influence customers’ perceived benefits. This study also revealed that four types of perceived benefits (functional, emotional, social and epistemic) significantly affect overall satisfaction and place attachment, which determine revisit intentions.

The findings of this study help identify not only important dining motivations and restaurant attributes but also their roles in loyalty formation with respect to traditional Chinese medicine restaurants. Thus, the results contribute to an improved understanding of how to satisfy customers’ dining motivations and efficiently manage restaurant attributes to strengthen customer loyalty.

This study is among the first to simultaneously examine the effects of customer motivation and restaurant attributes and to explain how they affect customer loyalty behaviors at traditional Chinese medicine restaurants.

This study aims to investigate the impact of emotional intelligence on work engagement by exploring the mediating roles of self-efficacy and psychological empowerment in this relationship.

Using the survey method, data were collected through both physical and online means. The final sample comprised 304 teachers working in elementary, middle and high schools. Structural equation modeling (SEM) analysis, utilizing IBM Amos version 26, was employed to assess the hypothesized model.

The study's results revealed that emotional intelligence does not exert a direct impact on work engagement. Additionally, self-efficacy was not found to mediate the relationship between emotional intelligence and work engagement. However, psychological empowerment emerged as a mediating factor in this context. Furthermore, self-efficacy and psychological empowerment concurrently demonstrated significant mediation of the relationship between emotional intelligence and work engagement.

The findings underscore the significance of teachers' emotional intelligence, suggesting that it can have profound implications for their work engagement through the mediating mechanisms of self-efficacy and psychological empowerment. Educational principals and administrators are encouraged to prioritize the enhancement of teachers' psychological empowerment, recognizing it as a pivotal link between teachers' emotional intelligence and work engagement.

This study contributes to the field by comprehensively examining the mediating roles of self-efficacy and psychological empowerment, addressing prior empirical gaps, and enriching the understanding of how emotional intelligence influences work engagement within the educational sphere.

The current study aims to investigate how young smartphone users in Bangladesh relate their brand experiences to brand loyalty. In addition, we want to visualize the direct and mediating effects of brand satisfaction, brand love and brand advocacy in our model.

The researchers examined the hypotheses by employing structural equation modeling (SEM) in AMOS and Decision Analyst STATS, version 2.0, with a sample size of 470 Bangladeshi smartphone users. The authors constructed the conceptual model by drawing upon both theoretical and empirical foundations. The researchers obtained data by utilizing an adopted and self-administered pre-structured questionnaire distributed via an online platform.

The results showed that brand experience greatly influences brand satisfaction, love, advocacy and loyalty, all of which have a significant impact on users’ brand loyalty across the country. The findings also suggested that the function of brand satisfaction as a critical mediator in the link between brand experience and brand loyalty was significant.

This experiment contributes to the body of knowledge by focusing on emotional brand attachments like brand satisfaction, love and advocacy and proposing that they can mediate experience and loyalty in the mobile market. The study also helps managers and executives better understand the primary drivers of smartphones, which are essential for generating and sustaining consumers’ happiness and loyalty in today’s highly competitive consumer market.

Employees’ creativity is a critical factor in today’s dynamic working conditions. This study investigates the impact of authentic leadership on the creative work behavior of employees through psychological empowerment as a mediating mechanism. Moreover, the study also aims to examine the moderating role of organizational identification, drawing upon social identity theory. Specifically, organizational identification is expected to moderate the relationship between psychological empowerment and creative work behavior. Furthermore, it can also potentially moderate the indirect effect of authentic leadership on creative work behavior through psychological empowerment.

We collected a total of 314 valid responses from the employees working in private and public sector organizations within the telecommunications sector in Sindh, Pakistan.

We analyzed the data using Mplus 8.0. Our findings revealed that authentic leadership leverages creativity via psychological empowerment. Moreover, authentic leadership potentially acts as a moderator. Our results also found support for conditional indirect effects.

Leaders’ authenticity is an emerging concept. Its role in producing a creative workforce is still in the developmental stage. This study highlights that managers must be trained to develop the traits of authentic leadership and organizational identification so that they can raise employees’ psychological empowerment and creative work behavior.