This paper examines the relationship between a pyramidal firm’s control-ownership wedge and the amount of its debt relative to the group’s total debt and its likelihood of having…
Abstract
Purpose
This paper examines the relationship between a pyramidal firm’s control-ownership wedge and the amount of its debt relative to the group’s total debt and its likelihood of having guaranteed debt in its capital structure.
Design/methodology/approach
The study sample consists of the 200 largest Indonesian companies listed on the Indonesia Stock Exchange for the period 2015–2022. I run baseline regressions and a number of robustness tests, which include two-stage least squares, censored regressions, difference-in-differences and subsample regressions as well as regressions with interaction terms.
Findings
The results show that, within pyramidal business groups, member firms with large control-ownership wedges are associated with less group debt allocation and a higher probability of having guaranteed debt.
Originality/value
To the best of my knowledge, this paper is the first to examine the direct link between a pyramidal firm’s control wedge and its’ proportion of group debt allocation and probability of having guaranteed debt. Therefore, it enriches the theory of tradeoffs within business groups and sheds more insights on the intragroup guarantees literature.
Details
Keywords
Chun-Shan Tai, Jin-Feng Uen and Szu-Hsien Lu
Most small- and medium-sized high-tech companies lack resources compared to large corporations, making it challenging to fully develop an employer brand. Therefore, identifying…
Abstract
Purpose
Most small- and medium-sized high-tech companies lack resources compared to large corporations, making it challenging to fully develop an employer brand. Therefore, identifying the subdimensions of employer branding that are important to talent in startup tech companies is crucial. Additionally, startups have higher organisational agility. Integrating this agility into an employer’s brand can enhance the unique value of startups, which is vital for employee retention.
Design/methodology/approach
Taiwan has many high-technology companies, and the competition to acquire talent is fierce. Hierarchical linear modelling is used. Data are collected from 219 employees of 51 high-technology startup companies.
Findings
The subcomponents of employer brand, “healthy work atmosphere”, “training and development” and “compensation and benefits”, significantly influence employee retention in high-tech startups. Additionally, agile values positively influence employee retention and positively moderate the relationship between the employer brand’s “healthy working atmosphere” and “training and development” with employee retention.
Originality/value
This study expands the theoretical content of employer branding. In resource-constrained small startup tech companies, greater focus should be placed on developing the three sub-dimensions. Although employee growth needs can compensate for some of the shortcomings of employer brands, employees still expect high salaries and benefits. Additionally, this study discusses agile values through empirical research, filling the gap in past research on agile values, which primarily focused on qualitative studies. We use the organisational culture perspective to determine whether agile values can enhance employee retention in rapidly changing environments. Agile values positively affect work environments.
Details
Keywords
Haoqin Yang, Zhongde Shan, Dandan Yan, Jianpei Shi, Jian Huang and Shijie Dong
This paper aims to develop a flexible manufacturing method for multimaterial sand molds to realize efficient additive manufacturing of multimaterial sand molds.
Abstract
Purpose
This paper aims to develop a flexible manufacturing method for multimaterial sand molds to realize efficient additive manufacturing of multimaterial sand molds.
Design/methodology/approach
To study the influence of multimaterial sand laying process parameters on the quality of powder bed and optimize the design of multimaterial sand laying device. Numerical simulation and X-ray Computed Tomography are used to study the penetration behavior and curing morphology of resin in different sand particles.
Findings
The surface roughness and porosity of the multimaterial powder bed that meet the requirements of sand-based additive manufacturing can be obtained under the optimal printing process, that is, the sanding speed of 140.0 mm/s and sanding roller diameter of 15.0 mm. The resin penetration process of the multimaterial sand molds shows a pattern of transverse expansion and longitudinal penetration. In terms of the resin curing morphology, the maximum thickness of the resin film layer of zircon sand reaches 30.5 ± 1.0 µm, which has the best tensile property, followed by silica sand and the thinnest resin film layer of chromite sand.
Originality/value
In this work, a highly flexible integrated combined sand-laying device suitable for multimaterial sand-laying tests is developed, which can obtain a multimaterial powder bed that meets the needs of sand additive manufacturing. Subsequent casting print tests also verify that the program can meet the needs of multimaterial sand mold additive manufacturing.
Details
Keywords
Hui Shan, Daeyoung Ko, Lan Wang and Gang Wang
This study aims to examine the relationship between managerial ability and innovation efficiency, the mediating effect of digital transformation and the moderating effect of…
Abstract
Purpose
This study aims to examine the relationship between managerial ability and innovation efficiency, the mediating effect of digital transformation and the moderating effect of internal control.
Design/methodology/approach
This study collected A-share manufacturing listed companies in China from 2008 to 2019 and analyzed the data by means of multiple regression analysis, mediating effect test, moderating effect test and heterogeneity test. Finally, the authors conducted robustness test by remeasuring key variables and adding control variables.
Findings
The empirical results show that the higher managerial ability can improve innovation efficiency, internal control has a positive moderating effect and digital transformation plays a partial mediating effect on the relationship between managerial ability and innovation efficiency. Specially, it is found that the mediating effect of digital transformation is not significant in non-state-owned firms.
Practical implications
This study suggests that it is necessary to focus on the managerial ability in terms of both cultivation and supervision, to further deepen the digital transformation from the aspects of firms, government and society, especially to support the digital transformation of non-state-owned firms, and to make efforts to improve the corporate governance mechanism and internal control system, so as to better comprehensively realize the improvement of enterprise innovation efficiency.
Originality/value
Based on the mediating effect analysis of digital transformation and the moderating effect analysis of internal control, this study explores the role of managerial ability on innovation efficiency from a new perspective, expanding the related theoretical framework and research boundaries.
Details
Keywords
Jingru Lian, Xiaobing Fan, Bin Xu, Shan Li, Zhiqing Tian, Mengdan Wang, Bingli Pan and Hongyu Liu
This paper aims to regulate the oil retention rate and tribological properties of pored polytetrafluoroethylene (PPTFE) using polyvinyl alcohol (PVA)-based oil gel.
Abstract
Purpose
This paper aims to regulate the oil retention rate and tribological properties of pored polytetrafluoroethylene (PPTFE) using polyvinyl alcohol (PVA)-based oil gel.
Design/methodology/approach
PPTFE was first prepared by using citric acid (CA) as an efficient pore-making agent. Subsequently, PVA and chitosan solution was introduced into the pores and experienced a freezing-thawing process, forming PVA-based gels inside the pores. Then, the PPTFE/PVA composite was impregnated with polyethylene glycol 200 (PEG200), yielding an oil-impregnated PPTFE/PVA/PEG200 composite.
Findings
It was found that the oil-impregnated PPTFE/PVA/PEG200 composite exhibited advanced tribological properties than neat PTFE with reductions of 53% and 70% in coefficient of friction and wear rate, respectively.
Originality/value
This study shows an efficient strategy to regulate the tribological property of PTFE using a PVA-based oil-containing gel.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-11-2024-0432/
Details
Keywords
Hsin-Pei Wu and Luo Lu
The present study explored sickness presenteeism as a linchpin connecting prolonged working hours to elevated turnover intention among hospital nurses (mediation). In addition, we…
Abstract
Purpose
The present study explored sickness presenteeism as a linchpin connecting prolonged working hours to elevated turnover intention among hospital nurses (mediation). In addition, we examined the joint moderating effects of organizational health care support and supervisor support on the second stage of the “long working hours-presenteeism-turnover” process (three-way moderated mediation).
Design/methodology/approach
We conducted a two-wave survey to collect data over a four-month period from hospital nurses in Taiwan. The final sample for analysis had 294 nurses.
Findings
We found that presenteeism partially mediated the elevated turnover intention after working long hours four months later. We also found a significant three-way moderation effect of organizational health care support and supervisor support on the positive relationship between presenteeism and turnover intention. Specifically, nurses reported the lowest turnover intention with high levels of both organizational healthcare and supervisor support, the highest turnover intention with both support being low, and the intermediate level of turnover intention when any one of the support was high.
Practical implications
Organizations should build a positive work environment through organizational health care support and supervisor support to retain talents.
Originality/value
Our findings suggested that support resources of different origins (organization-level vs line supervisor) can compensate for one another to protect the employees in demanding work conditions. Our moderated mediation model exploring the psychosocial context of presenteeism has theoretical contributions pivoting on the interplay of resources at different levels in the organization as well as practical implications for presenteeism management.
Details
Keywords
Lin Chen, Shan Ling, Tao Chen, Yukang Cai and Haihong Pan
This paper aims to investigate the suppression of end-point vibrations in industrial robot systems that exhibit joint flexibility and are subject to external disturbances.
Abstract
Purpose
This paper aims to investigate the suppression of end-point vibrations in industrial robot systems that exhibit joint flexibility and are subject to external disturbances.
Design/methodology/approach
The real-time position tracking error is effectively decomposed by using feedforward control based on a dynamic model. Various proportional-derivative controllers and adapted versions are used to compute real-time compensation torque for different position tracking errors. This approach aims to simultaneously achieve rapid response and stability in the control system, resulting in reduced end vibration in the industrial robot.
Findings
Experiments were conducted in torque compensation on a 6R industrial robot platform. Compared to the dynamic model calculate torque feedforward compensation method, the maximum reduction of the root mean square of the position error of each joint reached 77% and the minimum reduction was 36.2%. This enhancement improves the trajectory tracking accuracy and effectively suppresses the end-effector vibration.
Originality/value
An improved torque feedforward compensation method is proposed and verified. According to the experimental results, the method can effectively suppress vibration and further improve the trajectory tracking accuracy.
Details
Keywords
Qian Wang, Xiaobo Tang, Huigang Liang, Yajiong Xue and Xiaolin Sun
In public firms, the largest shareholder can make decisions on cash dividends in favor of its own interests at the expense of other investors. While the second largest shareholder…
Abstract
Purpose
In public firms, the largest shareholder can make decisions on cash dividends in favor of its own interests at the expense of other investors. While the second largest shareholder can actively participate in corporate governance and protect the interests of investors, its impact has not been fully understood. This research investigates how shareholding ratio and ownership type of the second largest shareholder moderate the relationship between controlling shareholder's shareholding ratio and cash dividends.
Design/methodology/approach
The authors conducted econometrics analysis based on a panel data of China's A-share listed companies from 2007 to 2017.
Findings
The authors find that the controlling shareholder's shareholding ratio has a significant negative impact on cash dividends. However, this influence is conditional on the shareholding ratio of the second largest shareholder. The negative impact is weakened when the second largest shareholder holds a large proportion of shares or when the shareholding gap between the second largest and the controlling shareholder is small.
Originality/value
This research extends the existing literature by highlighting the nuanced moderating effect of the second largest shareholder on the relationship between the controlling shareholder and cash dividends, thus making a unique contribution to the understanding of corporate governances in the emerging financial market in China.
Details
Keywords
Ching-Hsun Chang, Yu-Shan Chen and Chin-Wei Tseng
This study proposes the novel construct of digital transformation anxiety and investigates its effect, which is mediated by absorptive capacity and dynamic capability, on digital…
Abstract
Purpose
This study proposes the novel construct of digital transformation anxiety and investigates its effect, which is mediated by absorptive capacity and dynamic capability, on digital innovation performance.
Design/methodology/approach
This study conducted a questionnaire survey among Taiwanese manufacturing and service companies to verify the research framework. A total of 130 valid responses were collected and analyzed using partial least squares structural equation modeling (PLS-SEM) and bootstrapping to test direct and mediation effects, respectively.
Findings
Digital transformation anxiety negatively affects absorptive capacity and dynamic capability, whereas absorptive capacity and dynamic capability positively affect digital innovation performance. Dynamic capability more strongly mediates the association between digital transformation anxiety and digital innovation performance than absorptive capacity. Additionally, digital transformation anxiety does not negatively affect digital innovation performance. Finally, manufacturing companies had significantly higher levels of digital transformation anxiety than service companies.
Research limitations/implications
This study proposes the novel construct of digital transformation anxiety to address a gap in the literature. Digital transformation anxiety leads companies to adopt unnecessarily conservative practices, preventing them from flexibly responding to technological advances. This insight highlights the negative effect of such anxiety on absorptive capacity and dynamic capability, extending the application of path dependency theory to companies. The findings underscore the value of enhancing dynamic capability and reallocating resources to foster digital innovation. The study identified and explored the concept of digital transformation anxiety and extended the perspective of dynamic capability to include digital transformation and digital innovation.
Practical implications
The current findings indicate that digital transformation anxiety does not substantially affect digital innovation performance in Taiwanese companies. Consequently, Taiwanese companies should focus on developing their absorptive capacity and dynamic capability to enhance digital innovation.
Originality/value
The study proposes the novel construct of digital transformation anxiety and explores its effect on business units. It presents a pioneering framework derived from path dependence theory and the perspective of dynamic capability.
Details
Keywords
Jiaxin Liang, Vishnupriya Vishnupriya, An Le and Xiong Shen
The building industry is a critical sector that must significantly reduce its carbon emissions for New Zealand (NZ) to meet its 2050 zero-carbon goals. Green Star NZ, a leading…
Abstract
Purpose
The building industry is a critical sector that must significantly reduce its carbon emissions for New Zealand (NZ) to meet its 2050 zero-carbon goals. Green Star NZ, a leading Green Building Rating System in NZ, offers a structured framework for assessing and certifying building environmental performance. This research investigates industry professionals' perspectives on Green Star NZ’s effectiveness in achieving NZ’s zero-carbon goals, addressing gaps in existing literature.
Design/methodology/approach
Through qualitative analysis of semi-structured interviews, the research identified key areas where Green Star NZ either supports or falls short of zero-carbon practices, according to 22 practising professionals. A thematic analysis method was used to analyse the data.
Findings
The results indicate that while Green Star NZ suits NZ, it faces adoption challenges due to few supportive policies, complex certification and material supply issues with sustainable materials. The study addressed these barriers through targeted policies, streamlined processes and market support for sustainable technologies. Moreover, cost is directly or indirectly tied to Green Star NZ.
Originality/value
This study offers insights and recommendations to improve Green Star NZ, assisting NZGBC and stakeholders in advancing towards a zero-carbon future. Implementing these suggestions can boost Green Star NZ’s effectiveness. Through the project experience and the viewpoints of industry professionals, it fills the research gap by assessing Green Star NZ’s framework, identifying challenges and proposing improvements. The findings also position NZ’s experience as a possible model, advancing global green building practices and providing policymakers with recommendations.