Search results

1 – 6 of 6
Per page
102050
Citations:
Loading...
Available. Open Access. Open Access
Article
Publication date: 31 October 2024

Yamin Xie, Zhichao Li, Wenjing Ouyang and Hongxia Wang

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…

173

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

China Accounting and Finance Review, vol. 27 no. 1
Type: Research Article
ISSN: 1029-807X

Keywords

Available. Open Access. Open Access
Article
Publication date: 30 January 2025

Muzammil Hussain, Trong Tuan Luu and Timothy Marjoribanks

Healthcare is a service industry where fulfilling the needs of patients (customers) is challenging. Various factors, including cost, system complexity, staffing behaviours and…

100

Abstract

Purpose

Healthcare is a service industry where fulfilling the needs of patients (customers) is challenging. Various factors, including cost, system complexity, staffing behaviours and technological advances, play vital roles. Drawing upon social exchange theory, this study seeks to determine how paternalistic leadership (authoritarianism, benevolence and morality) influences employee service innovative behaviour and counterproductive work behaviour via perceived supervisor support in the healthcare sector. Additionally, the study investigates the role of the public service motivation of individuals as a moderating factor in this relationship.

Design/methodology/approach

A pilot study and a main study were conducted to test the hypotheses. We collected data from healthcare professionals in Pakistan’s large public, private and semi-government hospitals. We applied bootstrapping with 5,000 replications and structural equation modelling to analyse the data.

Findings

Results indicate that authoritarianism was negatively associated with service innovative behaviour, whereas benevolent and moral behaviours were positively associated with service innovative behaviour via perceived supervisor support (mediation). Our findings shed light on the moderating role of public service motivation.

Originality/value

This empirical quantitative study has several theoretical and practical implications. Findings of our study provide evidence that a paternalistic leadership style can influence both positive (service innovative behaviour) and negative (counterproductive working behaviour) working behaviours simultaneously via perceived supervisor support at an individual level in the service (healthcare) industry. This study also highlights the moderating role of public service motivation as an individual motivation factor.

Details

Journal of Health Organization and Management, vol. 39 no. 9
Type: Research Article
ISSN: 1477-7266

Keywords

Access Restricted. View access options
Article
Publication date: 27 February 2025

Lin Ma, Chenghong Hu, Zhenlin Lv, Xi He, Rui Dong and Mingjin Fan

This study aims to develop synthetic ester lubricating oil using renewable sinapic acid as raw material, to explore the structural design and selection of raw materials for green…

0

Abstract

Purpose

This study aims to develop synthetic ester lubricating oil using renewable sinapic acid as raw material, to explore the structural design and selection of raw materials for green, high-performance synthetic ester oils.

Design/methodology/approach

A series of the sinapate ester oils were synthesized through esterification and alkoxylation reactions using renewable source sinapic acid as the raw material. The molecular structures of the oils were characterized by nuclear magnetic resonance spectroscopy, Fourier transform infrared spectroscopy spectroscopy and elemental analysis. The oils were evaluated for safety, viscosity-temperature properties, thermal and oxidative stability, as well as friction reducing and anti-wear characteristics.

Findings

Compared to commercial base oil tris (2-ethylhexyl) trimellitate (Phe-3Ci8), the bio-lubricant exhibits superior antifriction and anti-wear properties. Notably, the JCi8-C12 sample performed exceptionally well, reducing the friction coefficient by 11.42% and wear volume (WV) by 54.44% in steel/steel tribo-pairs. In steel/aluminum tribo-pairs, the friction coefficient decreased by 27.48%, while WV was reduced by 85.81%. Mechanistic studies reveal that the introduction of short-chain methoxy groups and stable conjugated systems (aromatic rings and double bonds) inhibit oxidation and decomposition at elevated temperatures. The p-p stacking effect enables lubricant molecules to arrange stably on friction surfaces, forming a durable lubricating film.

Originality/value

The utilization of biomass resources to develop green synthetic lubricating oil with excellent performance not only enhances the added value of waste from agricultural processing but also offers significant benefits in terms of both economic and environmental sustainability.

Details

Industrial Lubrication and Tribology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0036-8792

Keywords

Access Restricted. View access options
Article
Publication date: 6 August 2024

Chao Li, Mengjun Huo and Renhuai Liu

The purpose of this paper is to empirically analyze the impact of directors’ and officers’ (D&O) liability insurance on enterprise strategic change. It also explores the mediating…

55

Abstract

Purpose

The purpose of this paper is to empirically analyze the impact of directors’ and officers’ (D&O) liability insurance on enterprise strategic change. It also explores the mediating role of litigation risk, the moderating roles of enterprise science and technology level and precipitation organizational slack between them. In addition, it examines the joint moderating roles of the top management team (TMT) external social network and enterprise science and technology level, and enterprise scale and precipitation organizational slack.

Design/methodology/approach

Using the unbalanced panel data of A-share listed companies in the Shanghai and Shenzhen stock exchanges of China from 2002 to 2020 as the research sample, this paper uses the ordinary least square method and fixed-effect model to study the relationship between D&O liability insurance and enterprise strategic change. The study also focuses on the mediating mechanism and moderating mechanisms between them.

Findings

The authors find that D&O liability insurance has an “incentive effect,” which can significantly promote enterprise strategic change. Litigation risk plays a partial mediating role between D&O liability insurance and enterprise strategic change. Enterprise science and technology level and precipitation organizational slack negatively moderate the relationship between D&O liability insurance and enterprise strategic change. TMT external social network and enterprise science and technology level, and enterprise-scale and precipitation organizational slack have joint moderating effects on the relationship between D&O liability insurance and enterprise strategic change.

Originality/value

This paper confirms the “incentive effect hypothesis” of the impact of D&O liability insurance on enterprise strategic change, which not only broadens the research perspective of enterprise strategic management but also further expands the research scope of D&O liability insurance. Besides, this paper thoroughly explores the influencing mechanisms between D&O liability insurance and enterprise strategic change, providing incremental contributions to the research literature in the field of enterprise risk management and corporate governance. The findings have practical guiding significance for expanding the coverage of D&O liability insurance, promoting the implementation of strategic changes and improving the level of corporate governance of Chinese enterprises.

Access Restricted. View access options
Article
Publication date: 25 February 2025

Navnit Jha and Ekansh Mallik

This study aims to explore the influence of Fourier-feature enhanced physics-informed neural networks (PINNs) on effectively solving two-dimensional local time-fractional…

2

Abstract

Purpose

This study aims to explore the influence of Fourier-feature enhanced physics-informed neural networks (PINNs) on effectively solving two-dimensional local time-fractional anomalous diffusion equations with nonlinear thermal diffusivity. By tackling the shortcomings of conventional numerical methods in managing fractional derivatives and nonlinearities, this research addresses a significant gap in the literature regarding efficient solution strategies for complex diffusion processes.

Design/methodology/approach

This study uses a quantitative methodology featuring a feed-forward neural network architecture combined with a Fourier feature layer. Automatic differentiation is implemented to ensure precise gradient calculations for fractional derivatives. The effectiveness of the proposed approach is showcased through numerical simulations across various sub-diffusion and super-diffusion scenarios, with fractal space parameters adjusted to examine behavior. In addition, the training process is assessed using the Fisher information matrix to analyze the loss landscape.

Findings

The results demonstrate that the Fourier-feature enhanced PINNs effectively capture the dynamics of the anomalous diffusion equation, achieving greater solution accuracy than traditional methods. The analysis using the Fisher information matrix underscores the importance of hyperparameter tuning in optimizing network performance. These findings support the hypothesis that Fourier features improve the model’s capacity to represent complex solution behaviors, providing the relationship between model architecture and diffusion dynamics.

Originality/value

This research presents a novel approach to solving fractional anomalous diffusion equations through Fourier-feature enhanced PINNs. The results contribute to the advancement of computational methods in areas such as thermal engineering, materials science and biological diffusion modeling, while also providing a foundation for future investigations into training dynamics within neural networks.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0961-5539

Keywords

Available. Open Access. Open Access
Article
Publication date: 25 February 2025

Mahesh Babu Purushothaman, Funmilayo Ebun Rotimi, Samadhi Samarasekara and Ali GhaffarianHoseini

This paper aims to highlight the factors affecting health and safety (H&S) and the SMART Technologies (ST) used to mitigate them in the construction industry through a range of…

23

Abstract

Purpose

This paper aims to highlight the factors affecting health and safety (H&S) and the SMART Technologies (ST) used to mitigate them in the construction industry through a range of selected papers to encourage readers and potential audiences to consider the need for intelligent technologies to minimize the risks of injuries, illnesses and severe harm in the construction industry.

Design/methodology/approach

This paper adopts a double systematic literature review (SLR) to analyse studies investigating the factors affecting H&S and the ST in the construction industry using databases such as Google Scholar, Scopus, Science Direct and Emerald Insight publication.

Findings

The SLR identified “fatal or focus five factors” that include objects Fall from heights (FFH) and trapped between objects; Falls, Trips and slips (FTS); Machinery/Equipment Malfunction and Moving Equipment; Pollutants: Chemicals, Airborne Dust, Asbestos; and Electrocution. The ST includes Safety Boots/SMART Glasses/SMART Helmet/SMART Vests/SMART PPE/SMART Watch, Mobile Apps, Building Information Modelling (BIM), Virtual Reality/Augmented Reality (VR/AR), Drones/Unmanned Aerial Vehicles and Wearable Technology/Mobile Sensors help mitigate the risk posed by “Fatal five”. However, other factors within the scope of ST, such as Weather Conditions, Vibrations, Violence, Disease and illness, Fire and Explosion and Over Exertion, are yet to be adopted in the field.

Research limitations/implications

SLR methodology limitations of not obtaining the most updated field knowledge are critical and are offset by choosing 72% of H&S and 92% of SM review literature post-2017. Limitations to capturing articles because of the restriction of database access: only English language search and journals that are not a part of the databases selected are acknowledged. However, key database search that recognizes rigorous peer-reviewed articles offset these limitations. The researcher’s Bias is acknowledged.

Practical implications

This paper unravels the construction H&S factors and their interlinks with ST, which would aid industry understanding and focus on mitigating associated risks. The paper highlights the Fatal five and trivial 15, which would help better understand the causes of the H&S risks. Further, the paper discusses ST’s connectivity, which would aid the organization’s overall H&S management. The practical and theoretical implications include a better understanding of all factors that affect H&S and ST available to help mitigate concerns. The operating managers could use the ST to reduce H&S risks at every construction process stage. This paper on H&S and ST and relationships can theorize that the construction industry is more likely to identify clear root causes of H&S and ST usage than previously. The theoretical implications include enhanced understanding for academics on H&S factors, ST and gaps in ST concerning H&S, which can be expanded to provide new insights into existing knowledge.

Originality/value

This paper highlights all factors affecting H&S and ST that help mitigate associated risks and identifies the “Fatal five” factors. The paper is the first to highlight the factors affecting H&S combined with ST in use and their interactions. The paper also identified factors within the ST scope that are yet to be explored.

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

Keywords

1 – 6 of 6
Per page
102050