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This paper examines the evolving landscape of accounting and finance research on the Chinese capital market, building on a previous study published at Abacus in 2018.

By incorporating data from 1999 to 2023, our analysis offers a detailed examination of shifts in academic focus, methodological advancements and thematic expansions over the last quarter-century.

The study reveals a substantial increase in accounting and finance publications related to the Chinese capital market in both Tier 1 and Asia-Pacific journals. The dynamic growth of the Chinese capital market during this period reflects profound economic transformations, characterized by technological innovations, sustainability commitments and regulatory reforms.

We conclude that the globally important Chinese capital market has attracted increasing academic attention, significantly advancing the understanding of accounting and finance research in China’s capital market.

This paper aims to present the design of a micro-electro-mechanical system (MEMS)-based three-dimensional combined vector hydrophone tailored for unmanned underwater vehicles (UUVs). The proposed design addresses the left-right ambiguity inherent in conventional MEMS hydrophones and enhances acoustic sensing capabilities to support improved UUV performance in underwater environments.

A novel MEMS-based three-dimensional vector hydrophone (M3DH) is proposed, integrating a highly sensitive MEMS chip with a piezoelectric ceramic-based scalar channel. A theoretical model of the hydrophone’s packaging was developed, and its acoustic performance was analyzed through COMSOL Multiphysics 6.2 simulations. Experimental validation of the hydrophone’s sensitivity and directional characteristics was conducted in a standing wave tank.

The MEMS-based three-dimensional combined hydrophone (M3DH) achieved a triaxial vector channel sensitivity of −175.6 dB at 800 Hz (re 1 V/µPa) and a scalar channel sensitivity of −186.3 dB (0 dB = 1 V/µPa). In addition, at 500 Hz, the vector channel exhibited a distinct “8”-shaped directivity pattern, whereas the scalar channel maintained a circular omnidirectional response. The hydrophone demonstrated excellent acoustic performance in three-dimensional space, effectively providing comprehensive acoustic information for small underwater platforms.

This research addresses the left-right ambiguity issue in MEMS hydrophones by presenting an MEMS-based three-dimensional combined hydrophone designed for integration into UUVs, offering an innovative solution to enhance underwater acoustic sensing capabilities in small platforms.

Existing research suggests a positive relationship between firms’ research and development investments (RDIs) and their patenting performance (PP) according to assumptions of linear productivity and homogeneous behavior. This study unravels the RDI–PP relationship by taking a strategic view to reveal its underlying mechanisms.

We study the effects of firms’ RDI on PP in the context of China’s listed firms in 16 patent-intensive industries, including the pharmaceutical, computer communication, electronic equipment and electrical machinery and equipment manufacturing industries. To test our hypotheses, we use panel data from 2010 to 2017. We apply generalized estimating equations to estimate our models.

The study finds an inverted U-shaped relationship between RDI and PP that arises from the transition of innovation portfolios and the strategic balancing of patenting costs and benefits. The study further examines two contingencies: (1) top management team (TMT) education level and (2) TMT compensation. It shows the turning point of the inverted U-shape shifts to the right when TMT education level is high; the curve flattens when TMT education level and TMT compensation are high.

We contribute to literature on innovation and appropriability strategy in three ways: First, we reveal the underlying mechanisms of the inverted U-shaped relationship between RDI and PP. Second, because previous research on appropriability strategies pays little attention to how innovation portfolios influence patenting decisions at the firm level, we provide evidence and insights on how the tension between exploitative and explorative innovations affects appropriability strategies. Third, we connect appropriability strategy literature with two streams of literature: corporate governance and upper-echelon theory.

Pakistan has experienced financial liberalization with rapid ups and downs in economic growth due to domestic issues during the last 2 decades. Motivated by inconclusive and conflicting time-driven findings about the performance of the business groups, this study examines the performance of business groups in Pakistan for a relatively long period from 2003 to 2018.

The study uses 3,821 firm-year observations from non-financial firms listed on the Pakistan Stock Exchange (PSX). For the estimation, pooled ordinary least squares (OLS) with industry- and year fixed effects and two-step system generalized methods of moments (GMM) are used.

The study finds that group-affiliated firms outperform independent firms in accounting performance, while underperform in market performance. The outperformance is mainly driven by medium-sized business groups, while underperformance is driven by small and large business groups. Further, the study documents that the underperformance in terms of market performance of firms affiliated with small and large groups is greater before the economic downturn, while outperformance in terms of the accounting measure of firms affiliated with medium-sized groups is greater during the economic downturn. These findings support our time-driven concerns. Overall, the authors' findings are consistent with institutional and transaction cost theories.

Business groups are important channels to reduce market inefficiencies. Business groups may enhance the affiliated firms' resources and resistance capacity through active utilization of the internal capital market, specifically when market conditions are not ideal for affiliates. However, effective utilization of internal capital markets depends on group size. Therefore, investors should deliberate on the size of business groups and diversification within business groups.

The authors extend the literature by providing fresh evidence related to the performance of business groups in the Pakistani context while accounting for the role of the size of business groups.

The purpose of this study is to explore the interfacial adhesion between superhydrophobic coatings FC-X (X = 1%, 2%, 3%, 4% and 5%) and the concrete substrate, along with the impact of FC-X on the water repellency characteristics of the concrete substrate.

One synthetic step was adopted to prepare novel F-SiO₂ NP hybrid fluororesin coating. The impact of varying mass fractions of F-SiO₂ NPs on the superhydrophobicity of FC-X was analyzed and subsequently confirmed through water contact angle (WCA) measurements. Superhydrophobic coatings were simply applied to the concrete substrate using a one-step spraying method. The interfacial adhesion between FC-X and the concrete substrate was analyzed using tape pasting tests and abrasion resistance measurements. The influence of FC-X on the water repellency of the concrete substrate was investigated through measurements of water absorption, impermeability and electric flux.

FC-4% exhibits excellent superhydrophobicity, with a WCA of 157.5° and a sliding angle of 2.3°. Compared to control sample, FC-X exhibits better properties, including chemical durability, wear resistance, adhesion strength, abrasion resistance, water resistance and impermeability.

This study offers a thorough investigation into the practical implications of enhancing the durability and water repellency of concrete substrates by using superhydrophobic coatings, particularly FC-4%, which demonstrates exceptional superhydrophobicity alongside remarkable chemical durability, wear resistance, adhesion strength, abrasion resistance, water resistance and impermeability.

Through the examination of the interfacial adhesion between FC-X and the concrete substrate, along with an assessment of FC-X’s impact on the water repellency of the concrete, this paper provides valuable insights into the practical application of superhydrophobic coatings in enhancing the durability and performance of concrete materials.

Although the role of returnees is critical to firm innovation, the literature offers inconsistent findings regarding returnees' effect on firms' innovation performance. To reconcile this issue, the authors argue that taking the types of innovation into account – i.e. technical innovation and commercial innovation – is necessary. Thus, the purpose of this study is to examine how firms led by returnees affect the relationship between research and development (R&D) input and above two types of innovation output, as well as the contingent role of political connections (PCs) and venture capital funding (VC funding).

This study empirically tested the hypotheses using a dataset of 54,617 firm-year observations for 18,475 Chinese firms in Zhongguancun Science Park (ZSP) from 2009 to 2014.

The results show that the positive effect of R&D input on technical innovation performance (TIP) is reinforced when firms are led by returnees, while the positive effect of R&D input on commercial innovation performance (CIP) is weakened when firms are led by returnees compared with those firms led by the local counterparts. The findings further show that returnee firms' positive effect on the relationship between R&D input and technical innovation performance is more salient for firms with more PCs but weakened for those with more VC funding.

This study enriches the research on returnee firms' advantages and disadvantages in transforming R&D input into innovation performance, and the findings highlight that firms led by returnees can increase R&D efficiency of technical innovation, but reduce R&D efficiency of commercial innovation. Moreover, this study offers a contingent view of political and economic stakeholders' roles in returnee firms' innovation, by revealing PCs help returnee firms to enhance R&D efficiency in technological innovation, while venture capital can hamper such R&D efficiency.

This study sheds light on a paradox in the field of management accounting, since, on the one hand, the concern with the theoretical anchoring of research in this field has been a constant and, on the other hand, there is a lack of a broad mapping of the theories adopted by these researchers. Thus, this article aims to map the theoretical anchoring of management accounting articles published in journals.

The analyses of the theoretical anchoring were concentrated on the 20-year time frame (2003–2022) of articles published in journals covered by the Scimago database. The text mining technique guided by quantitative synthesis and interpretation was applied in the analyses.

The parameterized searches resulted in 290 theories identified in 573 articles in the field of management accounting published in 70 journals. The theoretical anchoring of the articles, identified by the n-grams mapped in the titles, abstracts and keywords, was demonstrated by year, author and journal. Finally, the alignment between theoretical approaches and the categorization of theories adopted in the articles is highlighted.

This research brings implications to the body of management accounting literature by adding knowledge about its theoretical foundations, to contribute to delineating the scope of this academic field.

Management accounting articles with systematic reviews have prioritized thematic and methodological aspects. Thus, by mapping the theoretical anchoring of articles published in journals, this study adds and extends discussions regarding the theories adopted by researchers to substantiate their research in this field.

This research introduces an innovation strategy aimed at bolstering the reliability of a renewable energy resource, which is hybrid energy systems, through the application of a metaheuristic algorithm. The growing need for sustainable energy solutions underscores the importance of integrating various energy sources effectively. Concentrating on the intermittent characteristics of renewable sources, this study seeks to create a highly reliable hybrid energy system by combining photovoltaic (PV) and wind power.

To obtain efficient renewable energy resources, system designers aim to enhance the system’s reliability. Generally, for this purpose, the reliability redundancy allocation problem (RRAP) method is utilized. The authors have also introduced a new methodology, named Reliability Redundancy Allocation Problem with Component Mixing (RRAP-CM), for optimizing systems’ reliability. This method incorporates heterogeneous components to create a nonlinear mixed-integer mathematical model, classified as NP-hard problems. We employ specially crafted metaheuristic algorithms as optimization strategies to address these challenges and boost the overall system performance.

The study introduces six newly designed metaheuristic algorithms. Solve the optimization problem. When comparing results between the traditional RRAP method and the innovative RRAP-CM method, enhanced reliability is achieved through the blending of diverse components. The use of metaheuristic algorithms proves advantageous in identifying optimal configurations, ensuring resource efficiency and maximizing energy output in a hybrid energy system.

The study’s findings have significant social implications because they contribute to the renewable energy field. The proposed methodologies offer a flexible and reliable mechanism for enhancing the efficiency of hybrid energy systems. By addressing the intermittent nature of renewable sources, this research promotes the design of highly reliable sustainable energy solutions, potentially influencing global efforts towards a more environmentally friendly and reliable energy landscape.

The research provides practical insights by delivering a comprehensive analysis of a hybrid energy system incorporating both PV and wind components. Also, the use of metaheuristic algorithms aids in identifying optimal configurations, promoting resource efficiency and maximizing reliability. These practical insights contribute to advancing sustainable energy solutions and designing efficient, reliable hybrid energy systems.

This work is original as it combines the RRAP-CM methodology with six new robust metaheuristics, involving the integration of diverse components to enhance system reliability. The formulation of a nonlinear mixed-integer mathematical model adds complexity, categorizing it as an NP-hard problem. We have developed six new metaheuristic algorithms. Designed specifically for optimization in hybrid energy systems, this further highlights the uniqueness of this approach to research.

In the field of steel defect detection, the existing detection algorithms struggle to achieve a satisfactory balance between detection accuracy, computational cost and inference speed due to the interference from complex background information, the variety of defect types and significant variations in defect morphology. To solve this problem, this paper aims to propose an efficient detector based on multi-scale information extraction (MSI-YOLO), which uses YOLOv8s as the baseline model.

First, the authors introduce an efficient multi-scale convolution with different-sized convolution kernels, which enables the feature extraction network to accommodate significant variations in defect morphology. Furthermore, the authors introduce the channel prior convolutional attention mechanism, which allows the network to focus on defect areas and ignore complex background interference. Considering the lightweight design and accuracy improvement, the authors introduce a more lightweight feature fusion network (Slim-neck) to improve the fusion effect of feature maps.

MSI-YOLO achieves 79.9% mean average precision on the public data set Northeastern University (NEU)-DET, with a model size of only 19.0 MB and an frames per second of 62.5. Compared with other state-of-the-art detectors, MSI-YOLO greatly improves the recognition accuracy and has significant advantages in computational cost and inference speed. Additionally, the strong generalization ability of MSI-YOLO is verified on the collected industrial site steel data set.

This paper proposes an efficient steel defect detector with high accuracy, low computational cost, excellent detection speed and strong generalization ability, which is more valuable for practical applications in resource-limited industrial production.

The study examines the effect of natural resources (NRs) and the control of corruption, voice and accountability and regulatory quality on carbon emissions in Africa. Aside from their individual effects, the moderation effect of institutional quality is assessed.

Data from 32 African countries from 2002 to 2021 and the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) regression methods were used for the investigation.

In the long term, the NRs effect is sensitive to the estimation technique employed. However, quality regulatory framework, robust corruption control and voice and accountability abate any positive effect of NRs on carbon emissions. Institutional quality can be argued to moderate the CO2-emitting potentials of resource extraction in the selected African countries.

Enhancing regulation quality, enforcing corruption control and empowering citizens towards greater participation in governance and demanding accountability are essential catalyst to effectively mitigate CO2 emissions resulting from NRs.

The moderation effect of control of corruption, voice and accountability and regulatory quality on the NR–carbon emission nexus is examined.