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Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure to Chinese economic policy uncertainty at the individual stock level in large Asian markets.

We estimate the monthly uncertainty exposure (beta) for each stock and then employ the portfolio-level sorting analysis to investigate the relationship between the China’s uncertainty exposure and the future returns of major Asian markets over multiple trading horizons. The raw returns of the high-minus-low portfolios are then adjusted using conventional asset pricing models to investigate whether the relationship is explained by common risk factors. Finally, we check the robustness of the portfolio-level results through firm-level Fama and MacBeth (1973) regressions.

Applying portfolio-level sorting analysis, we reveal that exposure to Chinese uncertainty is negatively related to the future returns of large stocks over multiple trading horizons in Japan, Hong Kong and India. We discover this is unexplained by common risk factors, including market, size, value, profitability, investment and momentum, and is robust to the specification of stock-level Fama and MacBeth (1973) regressions.

Our analysis demonstrates the spillover effects of Chinese economic policy uncertainty across the region, provides evidence of China's emerging economic leadership, and offers trading strategies for managing uncertainty risks.

The findings of the study significantly improve our understanding of stock return predictability in Asian markets. Unlike previous studies, our results challenge the leading role of the US by providing a new intra-regional return predictor, namely, China’s uncertainty exposure. These results also evidence the continuing integration of the Asian economy and financial markets. However, contrary findings for some Asian markets point toward certain market-specific features. Compared with market-level research, our analysis provides deeper insights into the performance of individual stocks and is of particular importance to investors and other market participants.

Using bibliometric techniques, the author analyzes a dataset of 276 articles on cross-border mergers and acquisitions (CBMAs) published in 13 management and international business journals. The author assesses the scientific impact and visualizes the intellectual landscape of research on CBMAs by analyzing publication and citation data and interconnections between publications. First, the author assesses annual publication trends and identifies highly cited articles and productive journals in the dataset that have significantly contributed to our understanding of CBMAs. Second, the author identifies main themes in recent research on CBMAs by focusing on frequently used keywords in publications. Third, the author identifies clusters of related research and explores their interrelationships to outline emerging trends, new perspectives, and directions for future research on CBMAs. Overall, this chapter contributes to the understanding of CBMAs by documenting the progress made to date and providing important insights for future research.

In smart cities striving for innovation, development, and prosperity, hydrogen offers a promising path for decarbonization. However, its effective integration into the evolving energy landscape requires understanding regional intricacies and identifying areas for improvement. This chapter examines hydrogen transport from production to utilization, evaluating technologies’ pros, cons, and process equations and using Analytic Hierarchy Process (AHP) as a Multi-Criteria Decision-Making (MCDM) tool to assess these technologies based on multiple criteria. It also explores barriers and opportunities in hydrogen transport within the 21st-century energy transition, providing insights for overcoming challenges. Evaluation criteria for hydrogen transport technologies were ranked by relative importance, with energy efficiency topping the list, followed by energy density, infrastructure requirements, cost, range, and flexibility. Safety, technological maturity, scalability, and compatibility with existing infrastructure received lower weights. Hydrogen transport technologies were categorized into three performance levels: low, medium, and high. Hydrogen tube trailers ranked lowest, while chemical hydrides, hydrail, liquid organic hydrogen carriers, hydrogen pipelines, and hydrogen blending exhibited moderate performance. Compressed hydrogen gas, liquid hydrogen, ammonia carriers, and hydrogen fueling stations demonstrated the highest performance. The proposed framework is crucial for next-gen smart cities, cutting emissions, boosting growth, and speeding up development with a strong hydrogen infrastructure. This makes the region a sustainable tech leader, improving air quality and well-being. Aligned with Gulf Region goals, it is key for smart cities. Policymakers, industries, and researchers can use these insights to overcome barriers and seize hydrogen transport tech opportunities.

The study aims to assess marine biodiversity security, which is closely linked to a healthy planet and societal well-being. It defines marine biodiversity security, identifies threats such as climate change, marine debris and invasive species and explores mechanisms impacting this security to aid in achieving Aichi Targets and enhancing ecological sustainability.

Using spatial statistical methods, the research analyzes the temporal and spatial distribution of marine biodiversity. It provides a comprehensive multi-layered perspective on the current state of global marine biodiversity, facilitating the identification of threats and the understanding of their mechanisms.

The findings indicate significant threats to marine biodiversity, with an emphasis on climate change, marine debris and invasive species. The report reveals the spatial distribution of endangered species and underscores the need for urgent actions to address these threats and improve marine biodiversity security globally.

This report serves as a critical reference for promoting healthy, productive marine biodiversity that supports societal welfare. It underscores the importance of establishing a protective framework for marine biodiversity, contributing to the realization of the United Nations Sustainable Development Goals, particularly SDG 14.

The purpose of this study is to propose a research model based on the stimulus–organism–response (S–O–R) model to examine whether network externality, personalization and sociability as environmental feature antecedents to learners’ learning engagement (LE) can influence their learning persistence (LP) in massive open online courses (MOOCs).

Sample data for this study were collected from learners who had experience in taking MOOCs provided by the MOOC platform launched by a well-known university in Taiwan, and 371 usable questionnaires were analyzed using structural equation modeling in this study.

This study proved that learners’ perceived network externality, personalization and sociability in MOOCs positively affected their cognitive LE, psychological LE and social LE elicited by MOOCs, which jointly led to their LP in MOOCs. The results support all proposed hypotheses, and the research model accounts for 76.2% of the variance in learners’ LP in MOOCs.

This study uses the S–O–R model as a theoretical base to construct learners’ LP in MOOCs as a series of the inner process, which is affected by network externality, personalization and sociability. It is worth noting that three psychological constructs including cognitive LE, psychological LE and social LE are used to represent learners’ organismic states of MOOCs usage. To date, hedonic/utilitarian concepts are more often adopted as organisms in previous studies using the S–O–R model, and psychological constructs have received lesser attention. Hence, this study’ contribution on the application of capturing psychological constructs for completely expounding three types of environmental features as antecedents to learners’ LP in MOOCs is well documented.

The primary objectives of this article are to systematically explore whether and how certain WeChat use motives could lead to bridging social capital, bonding social capital and civic engagement among young people.

The data was collected from a large-scale online survey of 1208 young people in mainland China. Zero-order correlation analyses and structural equation modeling were carried out to examine the corresponding hypotheses.

Obtained findings show that WeChat use for informational and social motivations are positively associated with bonding and bridging social capital. Moreover, bonding social capital could mediate the relationship between WeChat usage for informational and relational motivations and civic engagement.

Theoretically, this article underlines the unique social and technological affordances of WeChat by exploring mobile social media use and how it would contribute to the quality of democracy by fostering young people's engagement in civic life. Practically, bridging and bonding social capital play significant roles in enhancing young people's civic engagement, which could be the meaningful resource for mobile social media designers, managers and government officials.

These obtained outcomes underlined the vital role of these newly emerging communication technologies in fostering democratic involvement and production of social capital in contemporary socially networked society.

Salt rock from salt lakes can serve as a cost-effective material for subgrade filling, as demonstrated in projects like the Qarhan Salt Lake section of the Qinghai-Tibet Railway and the Qarhan Salt Lake section of the G215 Highway. This state-of-the-art paper aims to summarize the engineering properties of salt rock filling and present the advances of its utilization.

This paper collects and analyzes laboratory and field data of salt rock filling from previous studies to present a comprehensive analysis of the engineering properties and utilization of salt rock fillings.

Salt rock primarily contains minerals such as halite and glauberite, which contribute to its unique phase-changing behavior under varying environmental conditions, impacting its mechanical properties. Salt rock filling shrinks when in contact with vapor or unsaturated brine and expands under cooling or evaporation. Its use is particularly recommended for arid regions, with specific restrictions depending on the structure type. This paper discusses suggested countermeasures to mitigate these issues, as well as key quality acceptance indices for salt rock filling compaction. Moisture content after air-drying is recommended as a crucial parameter for construction quality control.

This review aims to support future research and engineering practices in salt rock subgrade applications.

This paper takes the Shanghai-Shenzhen-Hong Kong Stock Connect as a quasi-natural experiment and investigates the impact of capital market liberalization on the corporate debt maturity structure. It also aims to provide some policy implications for corporate debt financing and further liberalization of the capital market in China.

Employing the exogenous event of Shanghai-Shenzhen-Hong Kong Stock Connect and using the data of Chinese A-share firms from 2010 to 2020, this study constructs a difference-in-differences model to examine the relationship between capital market liberalization and corporate debt maturity structure. To validate the results, this study performed several robustness tests, including the parallel test, the placebo test, the Heckman two-stage regression and the propensity score matching.

This paper finds that capital market liberalization has significantly increased the proportion of long-term debt of target firms. Further analyses suggest that the impact of capital market liberalization on the debt maturity structure is more pronounced for firms with lower management ownership and non-Big 4 audit. Channel tests show that capital market liberalization improves firms’ information environment and curbs self-interested management behavior.

This research provides empirical evidence for the consequences of capital market liberalization and enriches the literature on the determinants of corporate debt maturity structure. Further this study makes a reference for regulators and financial institutions to improve corporate financing through the governance role of capital market liberalization.

Purpose: This chapter aims to investigate how hotel performance is affected by corporate social responsibility (CSR) initiatives.

Design/methodology/approach: This study used a mixed approach utilizing both primary and secondary sources. Secondary research involved gathering pertinent data from various sources such as websites, books, and publications. Additionally, a structured questionnaire was administered to the guests of deluxe category hotels to gauge their perceptions regarding the influence of CSR practices on hotel performance.

Findings: It is found that implementing the CSR practices contributes to fostering guests’ loyalty and willingness, thereby indirectly enhancing hotel performance positively.

Research limitations/implications: The research sample was limited to New Delhi due to the abundance of five-star hotels in the area. While a larger sample size would have provided more relevant results, the selection process was not pre-determined for each hotel. Surveys were conducted based on the willingness of guests to participate, resulting in data collection from hotels visited randomly.

Originality/value: This chapter aims to enlighten hotels about the advantages of integrating CSR practices into their long-term policies.

In the practice of live streaming e-commerce, the consumer demand is usually uncertain, and the inventory and prices can be decided by brand owners or streamers. To this end, this study examines the inventory and pricing decisions of the brand owner and streamer in a live streaming e-commerce supply chain under demand uncertainty.

In this study, four scenarios are considered, i.e. the brand owner determines the inventory and price (Scenario BB), the brand owner determines the inventory and the streamer determines the price (Scenario BS), the streamer determines the inventory and the brand owner determines the price (Scenario SB), and the streamer determines the inventory and price (Scenario SS).

The results show that the inventory and prices, as well as the profits of the brand owner and streamer increase with the consumer sensitivity to streamer’s sales effort level under the four scenarios. The inventory (price) is the highest under Scenario SS (SB), while that is the lowest under Scenario BB (BS). In addition, when the sensitivity is low, the brand owner’s profit is the highest under Scenario BB, otherwise, the profit is the highest under Scenario SS. Regardless of the sensitivity, the streamer’s profit is always the highest under Scenario SS.

Few studies focused on the inventory and pricing decisions of brand owners and streamers in live streaming e-commerce supply chains under demand uncertainty, while this work bridges the research gap. This study can provide theoretical basis and decision support for brand owners and streamers.