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1 – 10 of 180Xunfa Lu, Jingjing Sun, Guo Wei and Ching-Ter Chang
The purpose of this paper is to investigate dynamics of causal interactions and financial risk contagion among BRICS stock markets under rare events.
Abstract
Purpose
The purpose of this paper is to investigate dynamics of causal interactions and financial risk contagion among BRICS stock markets under rare events.
Design/methodology/approach
Two methods are adopted: The new causal inference technique, namely, the Liang causality analysis based on information flow theory and the dynamic causal index (DCI) are used to measure the financial risk contagion.
Findings
The causal relationships among the BRICS stock markets estimated by the Liang causality analysis are significantly stronger in the mid-periods of rare events than in the pre- and post-periods. Moreover, different rare events have heterogeneous effects on the causal relationships. Notably, under rare events, there is almost no significant Liang's causality between the Chinese and other four stock markets, except for a few moments, indicating that the former can provide a relatively safe haven within the BRICS. According to the DCIs, the causal linkages have significantly increased during rare events, implying that their connectivity becomes stronger under extreme conditions.
Practical implications
The obtained results not only provide important implications for investors to reasonably allocate regional financial assets, but also yield some suggestions for policymakers and financial regulators in effective supervision, especially in extreme environments.
Originality/value
This paper uses the Liang causality analysis to construct the causal networks among BRICS stock indices and characterize their causal linkages. Furthermore, the DCI derived from the causal networks is applied to measure the financial risk contagion of the BRICS countries under three rare events.
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Zifeng Wang, Dezhu Ye and Tao Liang
This paper empirically investigates the relationship between financial availability and crime by measuring it across five dimensions: banking, securities, insurance, private…
Abstract
Purpose
This paper empirically investigates the relationship between financial availability and crime by measuring it across five dimensions: banking, securities, insurance, private lending and digital inclusive finance.
Design/methodology/approach
The study utilizes 2011–2017 data from prefecture-level cities as a representative sample. Moreover, these findings remain robust after addressing endogeneity through the use of the historical distance between cities and the railroad network as an instrumental variable.
Findings
The findings demonstrate a significant negative relationship between financial accessibility and crime rates. Heterogeneity exists in the inhibitory effect of different types of financial accessibility on crime, with banking finance exhibiting a stronger inhibitory effect compared to private lending. Areas affected by natural disasters and infectious diseases exhibit a stronger inhibitory effect of financial accessibility on crime rates, particularly in areas with severe shocks of natural disasters and epidemics. This effect is attributed to the low financing threshold and easy access to private lending, which plays a more effective role than bank finance when people face extreme risks.
Practical implications
There should be stricter regulations imposed on private lending markets and the introduction of more rational legislation aimed at guiding a healthy development within these markets; such measures serve as effective and complementary means for individuals from all walks of life to access credit financing.
Social implications
The regulation of financial resources by the government should always prioritize ensuring the accessibility of financial policies to cater to the needs of the majority population.
Originality/value
This study is for the first time in an emerging economy context, the causal relationship between financial accessibility and crime. To provide a more comprehensive measure of financial accessibility in a region, this paper proposes a five-dimensional methodology.
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The idea of value co-creation involves the benefit actors gain from integrating resources through activities and interactions within a service network, with the environment…
Abstract
Purpose
The idea of value co-creation involves the benefit actors gain from integrating resources through activities and interactions within a service network, with the environment enabling high-quality collaboration. This paradigm highlights customers’ ability to co-create value with service providers and other customers. This idea is gaining traction in health care. These days, patients are no longer passive recipients of health-care services; rather they have started taking proactive roles in their self-health management. This study aims to understand the phenomenon of value co-creation among patients within online health communities (OHCs).
Design/methodology/approach
A systematic literature review of papers published from 2003 to 2024 in Web of Science-indexed journals was conducted. The review highlights theories, contexts, characteristics and methodologies in this area, synthesizing insights from previous research and presenting a future research agenda for underexplored and unexplored contexts using emerging theoretical perspectives and analytical methodologies.
Findings
The review illuminates theoretical and empirical studies on value co-creation among patients in OHCs. Previous research shows that value co-creation among patients leads to cognitive, affective and physical benefits such as reduced anxiety and stress, increased assurance and self-confidence, improved quality of life, enhanced patient empowerment, acceptance of disease and treatment effectiveness and a sense of self-worth and well-being.
Originality/value
This review synthesizes insights from previous works and outlines a research agenda for future studies in underexplored and unexplored contexts using new theoretical perspectives and methodologies. Considering the role social media plays in an individual’s life, this work will help in deep diving into the role of such online communities in the health-care sector.
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Debiao Meng, Peng Nie, Shiyuan Yang, Xiaoyan Su and Chengbo Liao
As a clean and renewable energy source, wind energy will become one of the main sources of new energy supply in the future. Relying on the stable and strong wind resources at sea…
Abstract
Purpose
As a clean and renewable energy source, wind energy will become one of the main sources of new energy supply in the future. Relying on the stable and strong wind resources at sea, wind energy has great potential to become the primary energy. As a critical part of the wind turbine, the gearbox of a wind turbine often bears a large external load. Especially at sea, due to the effects of ocean corrosion, waves and wind, the burden of the wind turbine gearbox is greater, which brings great challenges to its reliability analysis. This study aims to systematically review the reliability research in wind turbine gearboxes and guide future research directions and challenges.
Design/methodology/approach
This study systematically reviews some design requirements and reliability analysis methods for wind turbine gearboxes. Then, it summarizes previous studies on wind load uncertainty modeling methods, including the processing of wind measurement data and the summary of three different classifications of random wind speed prediction models. Finally, existing reliability analysis studies on two major parts of the gearbox are described and summarized.
Findings
First, the basic knowledge of wind turbine gearboxes and their reliability analysis is introduced. The requirements and reliability analysis methods of wind turbine gearboxes are explained. Then, the processing methods of wind measurement data and three different random wind speed prediction models are described in detail. Furthermore, existing reliability analysis studies on two common parts of wind turbine gearboxes, gears and bearings, are summarized and classified, including a summary of bearing failure modes. Finally, three possible future research directions for wind turbine gearbox reliability analysis are discussed, namely, reliability research under the influence of multiple factors on gears, damage indicators of bearing failure modes and quantitative evaluation criteria for the overall dynamic characteristics of offshore wind turbine gearboxes and a summary is also given.
Originality/value
This paper aims to systematically introduce the relevant contents of wind turbine gearboxes and their reliability analysis. The contents of wind speed data processing, predictive modeling and reliability analysis of major components are also comprehensively reviewed, including the classification and principle introduction of these contents.
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Peng Jiang, Zhaohu Dong, Hong Sun, Yingchun Song and Qingqing Zou
Supply chains, as prototypical uncertain systems, are crucial for national security and socioeconomic development. Grey system theory (GST) is an effective tool for addressing…
Abstract
Purpose
Supply chains, as prototypical uncertain systems, are crucial for national security and socioeconomic development. Grey system theory (GST) is an effective tool for addressing uncertainties and has played a pivotal role in related research within the supply chain domain. This study aims to systematically summarize the research achievements and knowledge structures pertaining to GST in supply chain studies. Current and potential research hotspots are also analyzed.
Design/methodology/approach
CiteSpace is used to conduct a bibliometric analysis of 1,617 articles sourced from the Web of Science (WOS). The analysis aims to summarize the current state of research and the knowledge structure in the field. A strategic diagram incorporating two data indicators, namely, novelty and concern, is constructed based on keyword clustering to identify and analyze current and potential research hotspots.
Findings
Studies utilizing GST to guide supply chain practices have attracted the interest of scholars from 205 research institutions across 85 countries and regions globally, which earned recognition from 183 high-level academic journals. In this field, the School of Economics and Management at Nanjing University of Aeronautics and Astronautics stands out as a core research institution, with Professor Deng Julong, who is the founder of GST, being the most frequently cited scholar. Current research hotspots are complex equipment supply chains, drivers and challenges in supply chain management, supply chain risk management, closed-loop supply chain and supply chain operation in the big data era. In addition, emerging research hotspots include digital and intelligent logistics technology, sustainable supplier management, determinants and flexibility of supply chain contracts, supply chain strategy, purchase management, grey prediction of demand and consumption, grey forecasting and economy efficiency, China-specific issues and grey model construction.
Originality/value
The bibliometric analysis reveals the current state and knowledge structure of research in this field. Previous studies on research hotspots have primarily relied on subjective judgments, which lacked empirical data support. This study constructs a strategic diagram incorporating two data indicators, namely, novelty and concern, to provide a more objective and reliable analysis of research hotspots.
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Farshad Peiman, Mohammad Khalilzadeh, Nasser Shahsavari-Pour and Mehdi Ravanshadnia
Earned value management (EVM)–based models for estimating project actual duration (AD) and cost at completion using various methods are continuously developed to improve the…
Abstract
Purpose
Earned value management (EVM)–based models for estimating project actual duration (AD) and cost at completion using various methods are continuously developed to improve the accuracy and actualization of predicted values. This study primarily aimed to examine natural gradient boosting (NGBoost-2020) with the classification and regression trees (CART) base model (base learner). To the best of the authors' knowledge, this concept has never been applied to EVM AD forecasting problem. Consequently, the authors compared this method to the single K-nearest neighbor (KNN) method, the ensemble method of extreme gradient boosting (XGBoost-2016) with the CART base model and the optimal equation of EVM, the earned schedule (ES) equation with the performance factor equal to 1 (ES1). The paper also sought to determine the extent to which the World Bank's two legal factors affect countries and how the two legal causes of delay (related to institutional flaws) influence AD prediction models.
Design/methodology/approach
In this paper, data from 30 construction projects of various building types in Iran, Pakistan, India, Turkey, Malaysia and Nigeria (due to the high number of delayed projects and the detrimental effects of these delays in these countries) were used to develop three models. The target variable of the models was a dimensionless output, the ratio of estimated duration to completion (ETC(t)) to planned duration (PD). Furthermore, 426 tracking periods were used to build the three models, with 353 samples and 23 projects in the training set, 73 patterns (17% of the total) and six projects (21% of the total) in the testing set. Furthermore, 17 dimensionless input variables were used, including ten variables based on the main variables and performance indices of EVM and several other variables detailed in the study. The three models were subsequently created using Python and several GitHub-hosted codes.
Findings
For the testing set of the optimal model (NGBoost), the better percentage mean (better%) of the prediction error (based on projects with a lower error percentage) of the NGBoost compared to two KNN and ES1 single models, as well as the total mean absolute percentage error (MAPE) and mean lags (MeLa) (indicating model stability) were 100, 83.33, 5.62 and 3.17%, respectively. Notably, the total MAPE and MeLa for the NGBoost model testing set, which had ten EVM-based input variables, were 6.74 and 5.20%, respectively. The ensemble artificial intelligence (AI) models exhibited a much lower MAPE than ES1. Additionally, ES1 was less stable in prediction than NGBoost. The possibility of excessive and unusual MAPE and MeLa values occurred only in the two single models. However, on some data sets, ES1 outperformed AI models. NGBoost also outperformed other models, especially single models for most developing countries, and was more accurate than previously presented optimized models. In addition, sensitivity analysis was conducted on the NGBoost predicted outputs of 30 projects using the SHapley Additive exPlanations (SHAP) method. All variables demonstrated an effect on ETC(t)/PD. The results revealed that the most influential input variables in order of importance were actual time (AT) to PD, regulatory quality (RQ), earned duration (ED) to PD, schedule cost index (SCI), planned complete percentage, rule of law (RL), actual complete percentage (ACP) and ETC(t) of the ES optimal equation to PD. The probabilistic hybrid model was selected based on the outputs predicted by the NGBoost and XGBoost models and the MAPE values from three AI models. The 95% prediction interval of the NGBoost–XGBoost model revealed that 96.10 and 98.60% of the actual output values of the testing and training sets are within this interval, respectively.
Research limitations/implications
Due to the use of projects performed in different countries, it was not possible to distribute the questionnaire to the managers and stakeholders of 30 projects in six developing countries. Due to the low number of EVM-based projects in various references, it was unfeasible to utilize other types of projects. Future prospects include evaluating the accuracy and stability of NGBoost for timely and non-fluctuating projects (mostly in developed countries), considering a greater number of legal/institutional variables as input, using legal/institutional/internal/inflation inputs for complex projects with extremely high uncertainty (such as bridge and road construction) and integrating these inputs and NGBoost with new technologies (such as blockchain, radio frequency identification (RFID) systems, building information modeling (BIM) and Internet of things (IoT)).
Practical implications
The legal/intuitive recommendations made to governments are strict control of prices, adequate supervision, removal of additional rules, removal of unfair regulations, clarification of the future trend of a law change, strict monitoring of property rights, simplification of the processes for obtaining permits and elimination of unnecessary changes particularly in developing countries and at the onset of irregular projects with limited information and numerous uncertainties. Furthermore, the managers and stakeholders of this group of projects were informed of the significance of seven construction variables (institutional/legal external risks, internal factors and inflation) at an early stage, using time series (dynamic) models to predict AD, accurate calculation of progress percentage variables, the effectiveness of building type in non-residential projects, regular updating inflation during implementation, effectiveness of employer type in the early stage of public projects in addition to the late stage of private projects, and allocating reserve duration (buffer) in order to respond to institutional/legal risks.
Originality/value
Ensemble methods were optimized in 70% of references. To the authors' knowledge, NGBoost from the set of ensemble methods was not used to estimate construction project duration and delays. NGBoost is an effective method for considering uncertainties in irregular projects and is often implemented in developing countries. Furthermore, AD estimation models do fail to incorporate RQ and RL from the World Bank's worldwide governance indicators (WGI) as risk-based inputs. In addition, the various WGI, EVM and inflation variables are not combined with substantial degrees of delay institutional risks as inputs. Consequently, due to the existence of critical and complex risks in different countries, it is vital to consider legal and institutional factors. This is especially recommended if an in-depth, accurate and reality-based method like SHAP is used for analysis.
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Shaocong Bo and Enrico Battisti
The purpose of this paper is to examine the potential relationship between green finance and greenwashing to rationalize resource allocation better. Additionally, it explores the…
Abstract
Purpose
The purpose of this paper is to examine the potential relationship between green finance and greenwashing to rationalize resource allocation better. Additionally, it explores the interconnections among various subgroups of green finance products (GFPs) and identifies any overlooked or underrepresented subgroups.
Design/methodology/approach
This paper uses a mixed-method exploratory sequential design. Initially, the authors collected a sample of 313 relevant documents. Thematic analysis and hierarchical coding were then performed using NVivo software to uncover correlations between various nodes and address our research questions. Additionally, a word cloud analysis was conducted to assess the potential research value of stakeholders as moderating variables. Following this, the role of stakeholders was reevaluated, leading to the selection of 58 samples for separate content analysis.
Findings
First, there is a negative relationship between green finance and greenwashing. Second, a negative relationship is observed between GFPs and greenwashing. The authors’ correlation coefficient analysis suggests that environmental, social and governance funds, as a non-mainstream research focus within GFPs, deserve further in-depth investigation.
Originality/value
While a significant portion of the existing literature focuses on the relationship between green bonds and greenwashing, a noticeable gap exists regarding the broader spectrum of GFPs and their potential association with greenwashing. The lack of a direct connection between broader GFPs and greenwashing suggests that this area is underexplored in literature. This paper fills this gap by investigating the role of broader GFPs in either promoting or mitigating greenwashing.
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Zhipeng Liang, Chunju Zhao, Huawei Zhou, Yihong Zhou, Quan Liu, Tao Fang and Fang Wang
The spatial–temporal conflicts in the construction process of concrete arch dams are related to the construction quality and duration, especially for pouring blocks with a…
Abstract
Purpose
The spatial–temporal conflicts in the construction process of concrete arch dams are related to the construction quality and duration, especially for pouring blocks with a continuous high-strength and high-density construction process. Furthermore, the complicated construction technology and limited space resources aggravate the spatial–temporal conflicts in the process of space resource allocation and utilization, directly affecting the pouring quality and progress of concrete. To promote the high-strength, quality-preserving and rapid construction of dams and to clarify the explosion moment and influence degree of the spatial–temporal conflicts of construction machinery during the pouring process, a quantification method and algorithm for a “Conflict Bubble” (CB) between construction machines is proposed based on the “Time–Space Microelement” (TSM).
Design/methodology/approach
First, the concept of a CB is proposed, which is defined as the spatial overlap of different entities in the movement process. The subsidiary space of the entity is divided into three layered spaces: the physical space, safe space and efficiency space from the inside to the outside. Second, the processes of “creation,” “transition” and “disappearance” of the CB at different levels with the movement of the entity are defined as the evolution of the spatial–temporal state of the entity. The mapping relationship between the spatial variation and the running time of the layered space during the movement process is defined as “Time–Space” (TS), which is intended to be processed by a microelement.
Findings
The quantification method and algorithm of the CB between construction machinery are proposed based on the TSM, which realizes the quantification of the physical collision accident rate, security risk rate and efficiency loss rate of the construction machinery at any time point or time period. The risk rate of spatial–temporal conflicts in the construction process was calculated, and the outbreak condition of spatial–temporal conflict in the pouring process was simulated and rehearsed. The quantitative calculation results show that the physical collision accident rate, security risk rate and efficiency loss rate of construction machinery at any time point or time period can be quantified.
Originality/value
This study provides theoretical support for the quantitative evaluation and analysis of the spatial–temporal conflict risk in the pouring construction process. It also serves as a reference for the rational organization and scientific decision-making for pouring blocks and provides new ideas and methods for the safe and efficient construction and the scientific and refined management of dams.
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Zhenzong Zhou, Geoffrey Shen, Jin Xue, Chengshuang Sun, Yongyue Liu, Weiyi Cong, Tao Yu and Yaowu Wang
This study aims to develop an improved understanding of the formation of citizens' purchase intention to increase the adoption of prefabricated housing (PH).
Abstract
Purpose
This study aims to develop an improved understanding of the formation of citizens' purchase intention to increase the adoption of prefabricated housing (PH).
Design/methodology/approach
An integrative model of the theory of planned behavior (TPB) and norm activation model (NAM) was proposed based on previous studies. To verify the conceptual model, an analysis was conducted after data collection from a questionnaire survey. Lastly, findings were presented by explaining the formation of purchase intention in the egoistic and altruistic contexts. Practical implications were likewise discussed.
Findings
Findings manifest that citizens' purchase intention is influenced by egoistic and altruistic cognitions. An effective strategy is to show citizens the pro-environmental features of PH to promote its adoption because they value the environmental performance of housing. Meanwhile, consumers' social fitness also plays an essential role in decision-making, and the dual contradiction in the PH market is revealed.
Originality/value
This study extends the knowledge of psychological decision-making theories in the field of purchase intention toward PH by proposing an integrative framework of TPB and NAM. Results indicate a systematic and comprehensive understanding of consumers' decision-making in the PH domain. Moreover, results of this research contribute to specifying and refining the applicable contexts of TPB and NAM by adding two antecedents: subjective knowledge and environmental concern. This research contributes to the literature by being one of the first to investigate purchase intention toward a high-cost product with invisible technological innovation.
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Jiawang Zeng, Ming-Zhi Yang, Lei Zhang, Tongtong Lin, Sha Zhong and Yu Tao
The aerodynamic load caused by high-speed train operation may lead to severe vibration of the pedestrian bridge, thus causing great safety hazards. Therefore, this study aims to…
Abstract
Purpose
The aerodynamic load caused by high-speed train operation may lead to severe vibration of the pedestrian bridge, thus causing great safety hazards. Therefore, this study aims to investigate the aerodynamic loading characteristics of a pedestrian bridge when a high-speed train passes over the bridge, as well as to evaluate the vibration response of the aerodynamic loads on the bridge structure.
Design/methodology/approach
High-speed trains are operated at three different speeds. The aerodynamic pressure load characteristics of high-speed trains crossing a pedestrian bridge are investigated by combining a nonconstant numerical simulation method with a dynamic modeling test method, and the vibration response of the bridge is analyzed.
Findings
The results show that when a high-speed train passes through the pedestrian bridge, the pedestrian bridge interferes with the attenuation of the pressure around the train, so that the pressure spreads along the bridge bottom, and the maximum positive and negative pressure peaks appear in the center area of the bridge bottom, while the pressure fluctuations in the bridge entrance and exit areas are smaller and change more slowly, and the pressure attenuation of the bridge bottom perpendicular to the direction of the train’s operation is faster. In addition, the pressure fluctuation generated by the high-speed train will lead to a larger vertical response of the bridge structure in the mid-span position, and the main vibration frequency of the bridge structure ranges from 8 to 10 Hz, and the maximum value of the vertical deformation amplitude is located in the mid-span region of the bridge.
Originality/value
This paper analyzes the flow field distribution around the train and at the bottom of the bridge for the evolution of the flow field when the train passes through the bridge at high speed, and conducts a finite element dynamic analysis of the bridge structure to calculate the vibration response of the bridge when the train passes through at high speed, and to evaluate the comfort of the passengers passing through the high-speed railroad bridge.
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