Ye Li, Chengyun Wang and Junjuan Liu
In this essay, a new NDAGM(1,N,α) power model is recommended to resolve the hassle of the distinction between old and new information, and the complicated nonlinear traits between…
Abstract
Purpose
In this essay, a new NDAGM(1,N,α) power model is recommended to resolve the hassle of the distinction between old and new information, and the complicated nonlinear traits between sequences in real behavior systems.
Design/methodology/approach
Firstly, the correlation aspect sequence is screened via a grey integrated correlation degree, and the damped cumulative generating operator and power index are introduced to define the new model. Then the non-structural parameters are optimized through the genetic algorithm. Finally, the pattern is utilized for the prediction of China’s natural gas consumption, and in contrast with other models.
Findings
By altering the unknown parameters of the model, theoretical deduction has been carried out on the newly constructed model. It has been discovered that the new model can be interchanged with the traditional grey model, indicating that the model proposed in this article possesses strong compatibility. In the case study, the NDAGM(1,N,α) power model demonstrates superior integrated performance compared to the benchmark models, which indirectly reflects the model’s heightened sensitivity to disparities between new and old information, as well as its ability to handle complex linear issues.
Practical implications
This paper provides a scientifically valid forecast model for predicting natural gas consumption. The forecast results can offer a theoretical foundation for the formulation of national strategies and related policies regarding natural gas import and export.
Originality/value
The primary contribution of this article is the proposition of a grey multivariate prediction model, which accommodates both new and historical information and is applicable to complex nonlinear scenarios. In addition, the predictive performance of the model has been enhanced by employing a genetic algorithm to search for the optimal power exponent.
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Ye Li, Chengyun Wang and Junjuan Liu
In this paper, a new grey Cosine New Structured Grey Model (CNSGM(1,N)) prediction power model is constructed for the small-sample modeling and prediction problem with complex…
Abstract
Purpose
In this paper, a new grey Cosine New Structured Grey Model (CNSGM(1,N)) prediction power model is constructed for the small-sample modeling and prediction problem with complex nonlinearity and insignificant volatility.
Design/methodology/approach
Firstly, the weight of some relevant factors is determined by the grey comprehensive correlation degree, and the data are preprocessed. Secondly, according to the principle of “new information priority” and the volatility characteristics of the sequence growth rate, the ideas of damping accumulation power index and trigonometric function are integrated into the New Structured Grey Model (NSGM(1,N)) model. Finally, the non-structural parameters are optimized by the genetic algorithm, and the structural parameters are calculated by the least squares method, so a new CNSGM(1,N) predictive power model is constructed.
Findings
Under the principle of “new information priority,” through the combination with the genetic algorithm, the traditional first-order accumulation generation is transformed into damping accumulation generation, and the trigonometric function with the idea of integer is introduced to further simulate the phenomenon that the volatility is not obvious in the real system. It is applied to the simulation and prediction of China’s carbon dioxide emissions, and compared with other comparison models; it is found that the model has a better simulation effect and excellent performance.
Originality/value
The main contribution of this paper is to propose a new grey CNSGM(1,N) prediction power model, which can not only be applied to complex nonlinear cases but also reflect the differences between the old and new data and can reflect the volatility characteristics of the characteristic behavior sequence of the system.
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Jun Huang, Haijie Mo and Tianshu Zhang
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Originality/value
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.
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Shiyuan Zhang, Xiaoxue Zheng and Fu Jia
The carbon complementary supply chain (CCSC) is a collaborative framework that facilitates internal carbon credit trading agreements among supply chain agents in compliance with…
Abstract
Purpose
The carbon complementary supply chain (CCSC) is a collaborative framework that facilitates internal carbon credit trading agreements among supply chain agents in compliance with prevailing carbon regulations. Such agreements are highly beneficial, prompting agents to consider joint investment in emission reduction initiatives. However, capital investments come with inevitable opportunity costs, compelling agents to weigh the potential revenue from collaborative investments against these costs. Thus, this paper mainly explores carbon abatement strategies and operational decisions of the CCSC members and the influence of opportunity costs on the strategic choice of cooperative and noncooperative investment.
Design/methodology/approach
The authors propose a novel biform game-based theoretical framework that captures the interplay of pricing competition and investment cooperation among CCSC agents and assesses the impact of opportunity costs on CCSC profits and social welfare. Besides, the authors also compare the biform game-based collaborative scenario (Model B) to the noncooperative investment scenario (Model N) to investigate the conditions under which collaborative investment is most effective.
Findings
The biform game-based collaborative investment strategy enhances the economic performance of the traditional energy manufacturer, who bears the risk of opportunity costs, as well as the retailer. Additionally, it incentivizes the renewable energy manufacturer to improve environmental performance through renewable projects.
Originality/value
This research contributes significantly by establishing a theoretical framework that integrates the concepts of opportunity costs and biform game theory, offering new insights into the strategic management of carbon emissions within supply chains.
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Puneett Bhatnagr, Anupama Rajesh and Richa Misra
This study builds on a conceptual model by integrating AI features – Perceived intelligence (PIN) and anthropomorphism (PAN) – while extending expectation confirmation theory…
Abstract
Purpose
This study builds on a conceptual model by integrating AI features – Perceived intelligence (PIN) and anthropomorphism (PAN) – while extending expectation confirmation theory (ECT) factors – interaction quality (IQU), confirmation (CON), and customer experience (CSE) – to evaluate the continued intention to use (CIU) of AI-enabled digital banking services.
Design/methodology/approach
Data were collected through an online questionnaire administered to 390 digital banking customers in India. The data were further analysed, and the presented hypotheses were evaluated using partial least squares structural equation modelling (PLS-SEM).
Findings
The research indicates that perceived intelligence and anthropomorphism predict interaction quality. Interaction quality significantly impacts expectation confirmation, consumer experience, and the continuous intention to use digital banking services powered by AI technology. AI design will become a fundamental factor; thus, all interactions should be user-friendly, efficient, and reliable, and the successful implementation of AI in digital banking will largely depend on AI features.
Originality/value
This study is the first to demonstrate the effectiveness of an AI-ECT model for AI-enabled Indian digital banks. The user continuance intention to use digital banking in the context of AI has not yet been studied. These findings further enrich the literature on AI, digital banking, and information systems by focusing on the AI's Intelligence and Anthropomorphism variables in digital banks.
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Yun Zhan, Jia Liao and Xiaoyang Zhao
According to the resource-based theory, a firm’s unique resources and capabilities are the key to its competitive advantage. This paper aims to investigate the effect of top…
Abstract
Purpose
According to the resource-based theory, a firm’s unique resources and capabilities are the key to its competitive advantage. This paper aims to investigate the effect of top management team (TMT) stability, an important intangible resource of the firm, on the maturity mismatch between investment and financing of companies. Additionally, we explore the moderating effects of state ownership and institutional ownership in this context.
Design/methodology/approach
This study conducts an empirical analysis based on the ordinary least squares (OLS) model with a sample of Chinese companies listed on the Shanghai and Shenzhen stock exchanges from 2010 to 2022.
Findings
The results show that TMT stability significantly mitigates the degree of maturity mismatch. Both state ownership and institutional ownership weaken the negative effect of TMT stability on maturity mismatch. Besides, alleviating financing constraints is a crucial pathway through which TMT stability influences maturity mismatch.
Practical implications
The findings help firms to effectively retain TMT talents and reduce the occurrence of maturity mismatch.
Originality/value
This paper not only helps to expand the research on the economic effects of TMT stability but also provides new ideas on how to alleviate the maturity mismatch of companies.
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Qiang Lu, Yangyang Wang and Yudong Yang
This study aims to investigate how small and medium-sized enterprises (SMEs’) supply chain specific investment (SCSIs) affects supply chain financing performance (SCFP) in the…
Abstract
Purpose
This study aims to investigate how small and medium-sized enterprises (SMEs’) supply chain specific investment (SCSIs) affects supply chain financing performance (SCFP) in the innovative industrial finance model, and further analyze the internal mechanisms and important contextual factors.
Design/methodology/approach
Based on signaling theory, this study constructs a mediating and moderating model to examine the influencing mechanisms of SMEs’ SCSIs on SCFP, including the mediating effect of opportunism and the moderating effect of digital technology deployment (DTD). A multiple regression analysis is conducted to verify the theoretical hypotheses, using questionnaire data collected from 288 SMEs in China.
Findings
The empirical findings indicate that both SMEs’ supply chain asset-specific and relationship-specific investments can significantly promote SCFP. Also, SMEs’ SCSIs can improve SCFP by reducing the occurrence of opportunism perceived by supply chain partners. The breadth of DTD positively moderates the relationship between the two types of SCSIs and SCFP, while the depth of DTD has no significant moderating effect on the relationship between SCSIs and SCFP.
Originality/value
This study has discussed the important and novel issue of how financially distressed SMEs can send effective signals to financial institutions by increasing their SCSIs in supply chain finance mode. By revealing the influencing mechanisms of SMEs’ SCSIs on SCFP, this study contributes to expanding the research on the antecedents of SCFP from the dimension of interorganizational transactions. This study also enriches the perspectives of signaling theory by exploring the interaction between signal sender and signal intermediary.
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Qianjun Zhang, You Ouyang and Lixu Li
A global industrial revolution driven by carbon neutrality and digital technologies (DTs) is fast gaining momentum. However, the present understanding of how firms should leverage…
Abstract
Purpose
A global industrial revolution driven by carbon neutrality and digital technologies (DTs) is fast gaining momentum. However, the present understanding of how firms should leverage digitalization for sustainability is underdeveloped. This paper aims to explore how digital orientation can improve environmental performance from the natural resource-based view.
Design/methodology/approach
Using a sample set of 132 Chinese firms, the authors adopt the hierarchical regression analysis and bootstrap approach to examine the hypotheses.
Findings
The empirical results show that green DT usage, green DT disposal and green practices-DT fit are three factors that mediate the positive relationship between digital orientation and environmental performance. In addition, of the five possible mediational paths, only the serial mediation of green DT usage and green practices-DT fit, as well as the serial mediation of green DT disposal and green practices-DT fit, show significant effects.
Originality/value
The authors contribute to the current digitalization and sustainability literature by demonstrating the processes through which digital orientation influences environmental performance. The study also provides managerial implications for firms to adjust their operations.
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This paper aims to explore the nexus between family involvement and environmental, social and governance (ESG) performance based on socioemotional wealth theory, and it also…
Abstract
Purpose
This paper aims to explore the nexus between family involvement and environmental, social and governance (ESG) performance based on socioemotional wealth theory, and it also analyzes the potential influence mechanism.
Design/methodology/approach
Based on the categorization of China Stock Market & Accounting Research database, this study divides the Chinese listed firms into family and nonfamily firms and applies multiple regression methods to test the theoretical hypotheses.
Findings
Family involvement can incentivize corporations to enhance corporate transparency, which can in turn enhance their ESG performance. The role of family involvement in bolstering corporate ESG performance is negatively contingent on external financing constraints.
Originality/value
There are insufficient studies on the nexus between family ownership and ESG performance. The findings provide insights into helping policymakers formulate targeted measures to encourage corporations to be more active in promoting ESG initiatives.
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In smart cities striving for innovation, development, and prosperity, hydrogen offers a promising path for decarbonization. However, its effective integration into the evolving…
Abstract
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.