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With the development of a new generation of digital technologies, digital transformation (DT) has become an inevitable trend for enterprises to achieve development in various industries. Nevertheless, the contradiction between the “fragmented” use of digital technologies and the “systematic” transformation of the industry leads to the underperformance of DT in the construction industry. Whilst previous studies have examined why DT is needed and how separate digital technologies can be used in construction projects, they failed to specify effective tools that can help enterprises identify key resources that facilitate DT from the organisational perspective.

This study established an objective assessment framework for evaluating the digital transformation capability (DTC) of construction enterprises in identifying limitations in their transformation efforts. This study also established a management entropy quantitative model and a comprehensive capability evaluation model of DT to analyse the DT performance of construction enterprises from the internal and external perspectives. Data were collected from 95 listed enterprises in China’s construction industry in 2020 as a case study.

This study concluded that enterprise profitability provides a strong endogenous driving force for DT. Research and development capabilities and DT proficiency of enterprises are the most critical factors in facilitating DT. In addition, China’s construction enterprises' DT was characterised by uneven development and low orderliness. The lack of a unified digital integration platform is key to cracking the dilemma.

This paper systematically identified key DTC in construction enterprises and proposed an objective framework for measuring DTC to enhance the DT performance of these enterprises.

This paper aims to design a PD controller for an active suspension system to improve the car’s moving smoothness.

The controller parameters are optimized by an in-loop genetic algorithm (iL-GA). Unlike previous studies that only used conventional GAs to tune coefficients for the controller, the iL-GA designed in this paper provides outstanding efficiency when determining the optimal value range for the system. The optimal value range of parameters is determined by the in-loop algorithm based on criteria related to systematic errors. The optimal values are then calculated by the GA based on this range instead of an uncertain one.

Simulation results show that vehicle body acceleration and displacement values are significantly reduced when using the active suspension system compared to the conventional passive suspension system. The phase difference phenomenon does not occur in the iL-GA situation. In addition, the frequency domain investigation also shows the system’s stability when using iL-GA instead of conventional GA.

To the best of the authors’ knowledge, this is a new application that provides positive effects to the suspension controller. This algorithm can be applied to tune coefficients for direct controllers in the future.

With the onset of globalization in developing economies, policymakers express serious concerns about the role of the informal economy, a concern also mirrored in the United Nations (UN) sustainable development goals (SDGs). Numerous attempts have been made to analyse the general equilibrium consequences of globalization in terms of foreign capital inflow on the informal sector in a developing economy. These studies examined the impact of foreign capital inflow through the channels of resource reallocation across sectors and adjustment in the factor and commodity prices. Nevertheless, the efficacy of these channels is contingent upon the assumption of perfectly competitive product markets that is pertinent in the majority of the studies. This chapter attempts to incorporate imperfect competition in the informal economy in a Heckscher–Ohlin-type multi-factor, multi-sector general equilibrium setup. We assume the existence of imperfection in both a homogeneous good-producing industry and a product-differentiating industry and examine how foreign capital inflow in the presence of imperfect competition affects the informal workers, industrial and firm output, product diversity, national income, and welfare. We also analyse how the consequences of foreign capital inflow on the informal economy can vary with the degree of product market imperfection. It is obtained that varying degrees of product market imperfection in the informal economy have only quantitative (magnitude) effects; however, qualitative (directional) effects remain unchanged.

The purpose of this study is to provide a textual approach to quantify the perception of uncertainty from management side and investigate how firms manage their overseas investment dynamics when perceiving an increase in economic policy uncertainty (EPU).

Using a textual analysis approach, the study evaluates firm-level perception of EPU. Based on the data from China's listed firms between 2007 and 2018, it examines the association between firm-level perception of EPU and overseas investment using probit model and fixed effects regression with robust standard error adjusted for heteroscedasticity and clustered by firm.

The study finds that the level of EPU perceived by individual firms is heterogeneous. Moreover, it finds that firm-level perception of EPU is positively associated with firms' overseas investment. When perceiving an increase in EPU, firms are more likely to invest abroad and their overseas investment is more diverse. Further analysis shows that the positive association between firm-level perception of EPU and overseas investment is weaker in firms with higher financing cost, investment irreversibility and management incentive but stronger in firms with more intensive industry competition. However, it does not find significant difference in the impact of firm-level perception of EPU on overseas investment of state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). The results are robust to using alternative measures of primary variables and to endogeneity concerns.

First, although the data on outward foreign direct investment (OFDI) at the national and provincial levels are comprehensive, the data on OFDI at the firm level are still relatively scarce. As the firm-level OFDI data become available, future study could be extended to OFDI flow. Second, future study could use other information disclosed by firms to evaluate their perception of EPU from host countries and examine the impact of bilateral EPU on overseas investment. Third, by evaluating firm-level perception of uncertainty in terms of a particular type of economic policies, such as fiscal policy, monetary policy, trade policy and foreign investment policy, future study could probe the sources of EPU affecting firms' overseas investment.

First, although uncertainty increases the volatility of firms' investment activities, firms can recognize and seize investment opportunities in an uncertain economic environment and make profits through resource integration. Second, as the association between firm-level perception of EPU and overseas investment depends on firm and industry characteristics, firms with higher financing cost, investment irreversibility and management incentive should be more cautious when making overseas investment decisions during uncertainty times. Third, governments should increase the transparency and the stability of their economic policies to help firms plan their investment policies.

The study extends the literature related to EPU measurement by constructing a firm-level perception index of EPU based on firms' annual reports using a textual analysis approach. Moreover, it sheds some light on the mechanism of how firms modulate their overseas investment activities under uncertainty.

The purpose of this paper is to develop optimal estimation procedures for the stress-strength reliability (SSR) parameter R = P(X > Y) of an inverse Pareto distribution (IPD).

We estimate the SSR parameter R = P(X > Y) of the IPD under the minimum risk and bounded risk point estimation problems, where X and Y are strength and stress variables, respectively. The total loss function considered is a combination of estimation error (squared error) and cost, utilizing which we minimize the associated risk in order to estimate the reliability parameter. As no fixed-sample technique can be used to solve the proposed point estimation problems, we propose some “cost and time efficient” adaptive sampling techniques (two-stage and purely sequential sampling methods) to tackle them.

We state important results based on the proposed sampling methodologies. These include estimations of the expected sample size, standard deviation (SD) and mean square error (MSE) of the terminal estimator of reliability parameters. The theoretical values of reliability parameters and the associated sample size and risk functions are well supported by exhaustive simulation analyses. The applicability of our suggested methodology is further corroborated by a real dataset based on insurance claims.

This study will be useful for scenarios where various logistical concerns are involved in the reliability analysis. The methodologies proposed in this study can reduce the number of sampling operations substantially and save time and cost to a great extent.

This study aims to address the challenge of reducing the build time of a fused deposition modeling (FDM) system while maintaining part strength, proposing a hybrid technique combining photopolymerization and FDM.

For developing the hybrid system, a standard FDM machine was modified to incorporate necessary components so that the whole system can be operated with a single interface; further, the samples were fabricated with conventional and modified process to evaluate the efficacy of the developed system, to determine the extent of time reduction that the proposed methodology can obtain, additionally different sort of 3D models were selected and their build time was compared.

The modified hybrid mechanism can successfully fabricate parts with a modified G-code. The simulation of the technique shows that a reduction of 34%–87% can be achieved for simpler models such as cube while a reduction ranging from 30.6%–87.8% was observed for complex models. An increase in strength of 6.58%, 11.51% and 37.32% was observed in X, Y and Z directions, along with a significant increase in toughness as compared with FDM parts for parts fabricated with the developed mechanism.

The modified mechanism could be used for fast fabrication purposes, which could be very useful for serving situations such as emergency health care, rapid tooling.

This research contributes a novel hybrid technique for additive manufacturing, offering a substantial reduction in build time without compromising mechanical properties, even increasing them.

The Metaverse, an emergent Web 3.0 platform, offers users immersive virtual reality experiences. This study employs a case study approach to explore the concept of sustainability within the Metaverse. It examines the environmental, social, and economic implications of virtual interactions and the role of sustainable technologies in shaping user behavior and virtual economies. Through selected case studies, the research provides insights into the potential and challenges of integrating sustainable practices in the Metaverse, with implications for stakeholders ranging from policymakers to end-users.

The purpose of our study is to study the impact of chief executive officer (CEO) optimism and narcissism on the company's capital structure.

(1) The authors opt for regression, machine learning and text analysis to explore the impact of narcissism and optimism on the capital structure. (2) We analyze CEO interviews and employ three methods to evaluate narcissism: the dictionary proposed by Anglin, which enabled us to assess the following components: authority, superiority, vanity and exhibitionism; count of first-person singular and plural pronouns and count of CEO photos displayed. Following this approach, we were able to make a more thorough assessment of corporate narcissism. (3) Latent Dirichlet allocation (LDA) technique helped to find the differences in the corporate rhetoric of narcissistic and non-narcissistic CEOs and to find differences between the topics of interviews and letters provided by narcissistic and non-narcissistic CEOs.

Our research demonstrates that narcissism has a slight and nonlinear impact on capital structure. However, our findings suggest that there is an impact of pessimism and uncertainty under pandemic conditions when managers predicted doom and completely changed their strategies. We applied various approaches to estimate the gender distribution of CEOs and found that the median values of optimism and narcissism do not depend on sex. Using LDA, we examined the content and key topics of CEO interviews, defined as positive and negative. There are some differences in the topics: narcissistic CEOs are more likely to speak about long-term goals, projects and problems; they often talk about their brand and business processes.

First, we examine the COVID-19 pandemic period and evaluate how CEO optimism and pessimism affect their financial decisions under specific external conditions. The pandemic forced companies to shift the way they worked: either to switch to the remote work model or to interrupt operations; to lose or, on the contrary, attract clients. In addition, during this period, corporate management can have a different outlook on their company’s financial performance and goals. The LDA technique helped to find the differences in the corporate rhetoric of narcissistic and non-narcissistic CEOs. Second, we use three methods to evaluate narcissism. Third, the research is based on a set of advanced methods: machine learning techniques (random forest to reveal a nonlinear impact of CEO optimism and narcissism on capital structure).

The aim of this study was to conduct a systematic literature review (SLR) on vlog marketing. The focus was to analyse the major themes in this field and provide insights for future research directions.

The authors reviewed a total of 49 peer-reviewed publications that include the search terms “vlog” or “video blog” in their titles, keywords and abstracts, retrieved from digital databases Scopus and Web of Science, up to the end of July 2023. Thematic analysis was used to examine and synthesise the articles.

The authors found 19 sub-themes and identified four major themes that emerged from the literature: (1) endorsement outcomes, (2) vlogger characteristics, (3) consumer credibility and (4) vlog content crafting.

There are many unanswered questions in the literature, suggesting that vlog marketing research is still in its infancy, and that in-depth further studies are required for a more comprehensive understanding of the field. This study has identified potential avenues for future research that may contribute to the existing body of knowledge and valuable insights on vlog marketing.

This study aims to re-examine the growth effects of tourism and role of financial development in this process for countries across the globe for the period 1995–2018.

Considering the asymmetric effect of tourism on economic performance, the author makes use of a recently developed method of moments approach of quantile regression with fixed effects proposed by Machado and Silva (2019).

Model-based on tourist arrival shows a positive effect of tourism on economic performance. Yet, the effect is conditional and shows that relatively low-income economies are benefited more than high-income economies. The results also show that all types of tourism are beneficial for growth, yet business-related tourist arrivals are found to be comparatively more effective than other types of tourism. The evidence also shows that excess tourism does not dampen growth. Finally, the evidence suggests that financial development offers critical absorptive capacity, and tourism-led growth cannot be realised without it.

In contrast to previous studies, the approach effectively deals with non-normality, endogeneity and heterogeneity across issues. Furthermore, this study uniquely tests the role of financial development in channelling tourism-led development.