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For the purpose of saving nickel, this study aims to develop new duplex stainless steel cored wires suitable for wire arc additive manufacturing (WAAM) with the addition of nitrogen.

The effect of nitrogen content on the microstructure and mechanical properties of the thin-walled deposits is investigated in detail.

The microstructure of thin-walled deposits mainly consists of austenite, ferrite and secondary austenite. With increasing nitrogen content, the austenite in the deposited metals increases. The austenite proportion in the bottom region is more than that in the top region of the deposited metals. The χ phase is randomly distributed at the grain boundaries and within ferrite. The σ phase is mainly precipitated at ferrite and austenite grain boundaries. With increasing nitrogen content, the tensile strength of the deposited metals increases, but the impact toughness of the deposited metals deteriorates.

This study proposes new duplex stainless steel cored wires for WAAM, which realizes the objective of saving nickel.

Political factors play a crucial role in China's initial public offering (IPO) market due to its distinctive institutional context (i.e. “economic decentralization” and “political centralization”). Given the significant level of IPO underpricing in China, we examine the impact of local political uncertainty (measured by prefecture-level city official turnover rate) on IPO underpricing.

Using 2,259 IPOs of A-share listed companies from 2001 to 2019, we employ a structural equation model (SEM) to examine the channel (voluntarily lower the issuance price vs aftermarket trading) through which political uncertainty affects IPO underpricing. We check the robustness of the results using bootstrap tests, adopting alternative proxies for political uncertainty and IPO underpricing and employing subsample analysis.

Local official turnover-induced political uncertainty increases IPO underpricing by IPO firms voluntarily reducing the issuance price rather than by affecting investor sentiment in aftermarket trading. These relations are stronger in firms with pre-IPO political connections. The effect of political uncertainty on IPO underpricing is also contingent upon the industry and the growth phase of an IPO firm, more pronounced in politically sensitive industries and firms listed on the growth enterprise market board.

Local government officials in China usually have a short tenure and Chinese firms witness significantly severe IPO underpricing. By introducing the SEM model in studying China IPO underpricing, this study identifies the channel through which local government official turnover to political uncertainty on IPO underpricing.

The purpose of this paper is to address the urgent need for transformation and upgrading in the construction industry amid the accelerating industrialization process. The focus is on understanding how value-added for construction enterprises can be achieved through servitization.

Grounded in the perspective of added value of construction enterprises, this paper uses a multicase analysis method, selecting four internationally renowned construction enterprises as the research subjects. The analysis investigates how these case study enterprises transition toward servitization and explores the trends in servitization in construction.

The research results indicate that servitization manifests in two aspects: contractor transition to servitization, and the shift of the construction industry toward integrated delivery. Furthermore, servitization in construction can achieve value-adding through three pathways: increasing product value, creating market demand and providing customized services.

This study contributes by providing insights into the manifestations of servitization and pathways for value-added. It provides a reference for the overall direction and basic strategy of servitization in construction.

The purpose of the study is to investigate the financing channels and carbon emission abatement preferences of supply chain members, and further examine the optimal contract design of the retailer.

This paper develops a low-carbon supply chain composed of one retailer and one manufacturer, in which the retailer provides trade credit to the manufacturer. Considering the cap-and-trade regulation, the manufacturer with uncertain yield makes decision on whether to invest in emission abatement. There are bank loan and trade credit to finance production for the manufacturer and green credit to finance emission abatement investment. Meanwhile, the retailer may provide the manufacturer with three kinds of contracts to improve emission abatement efficiency, namely, revenue sharing, cost sharing or both sharing.

The results show that the retailer prefers to offer financing service at lower interest rate, but trade (and green) credit financing is always optimal for manufacturer and supply chain. The investment in emission abatement is value-added to all players. The sharing contracts offered by the retailer at lower sharing ratios can realize Pareto improvement of the system regardless of the financing scheme. However, comparing with the revenue or cost sharing contract, the existence of optimal sharing ratios makes the both sharing contract more favorable to the retailer.

The findings provide guidance for the emission-dependent manufacturer in financing and emission abatement decisions, as well as recommendations for the retailer to offer loan service and sharing contract.

This paper integrates green credit into bank loan or trade credit to analyze the financing decision of the manufacturer with uncertain yield and further considers the influence of three kinds of sharing contracts introduced by the retailer on improving operational performance.