Xiaochen Zhang and Huifang Yin
The aim of this paper is to examine the effect of information disclosure by unlisted bond issuers on the stock price informativeness of listed firms in the same industry.
Abstract
Purpose
The aim of this paper is to examine the effect of information disclosure by unlisted bond issuers on the stock price informativeness of listed firms in the same industry.
Design/methodology/approach
This paper takes advantage of information disclosure during the bond issuance and examines the spillover effect of unlisted bond issuers' information disclosure on listed firms in the stock market. The sample is composed of A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2007 to 2018. All the data are obtained from the China Stock Market and Accounting Research and WIND databases. The impact of bond market information disclosure on price informativeness of listed firms in the same industry is identified through multivariate regression analyses.
Findings
Empirical results show that price informativeness of listed firms has a significantly positive association with the information disclosure of same-industry unlisted bond issuers. Further analyses show that the above finding is more significant when information disclosure of bond issuers is a more important channel for acquiring industry information (i.e. when industry is more concentrated, when economic uncertainty is high, and when industry information is less transparent) and understanding the industry competitive landscape (i.e. when bond issuers are relatively large, when bond issuers and listed firms have more direct product competition, when bond issuance firms are large-scale state-owned business groups), and when there are more cross-market information intermediaries (i.e. more cross-market institutional investors and more sell-side analysts). This paper indicates that information disclosure of bond issuers has a positive spillover effect on the stock market.
Originality/value
The novelty of the research is that the authors examine industry information spillover from unlisted firms to listed firms leveraging on unlisted firms' information disclosure in bond markets.
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Laura Kauppinen, Petteri Annunen and Harri Haapasalo
Industrialized construction has brought about expectations of improved productivity in the construction industry. However, the lack of a commonly accepted definition has created…
Abstract
Purpose
Industrialized construction has brought about expectations of improved productivity in the construction industry. However, the lack of a commonly accepted definition has created confusion regarding the types of development covered by the industrialized construction umbrella. These inconsistent definitions convoluted the discussion on this phenomenon. This study aims to clarify the definition of industrialized construction through a systematic literature review.
Design/methodology/approach
This systematic literature review was conducted according to PRISMA principles. Records were gathered from Scopus and Web of Science. Following the scientometric analysis, content analysis was conducted according to the template analysis approach.
Findings
The analysis of 121 articles revealed four main themes related to industrialized construction: 1) the construction concept, 2) construction methodologies, 3) systematization, rationalization and automatization and 4) societal and industrial change processes. Definitions of industrialized construction can be analyzed with seven clusters: 1) prefabrication, 2) standardization, 3) sector, 4) integration, 5) manufacturing practices, 6) technological investment and 7) none. Based on the content analysis, the proposed definition is: industrialized construction is the adoption of practices that minimize project-specific work in construction from the start of the design to the end of the building’s life cycle.
Originality/value
This study proposes a definition for industrialized construction following content analysis of broadly sampled literature. The proposed definition can provide a basis on which developments in the construction industry can be reflected.
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Hao Zhang, Qingyue Lin, Chenyue Qi and Xiaoning Liang
This study aims to explore how online reviews and users’ social network centrality interact to influence idea popularity in open innovation communities (OICs).
Abstract
Purpose
This study aims to explore how online reviews and users’ social network centrality interact to influence idea popularity in open innovation communities (OICs).
Design/methodology/approach
This study used Python to obtain data from the LEGO Innovation Community. In total, 285,849 reviews across 4,475 user designs between March 2019 and March 2021 were extracted to test this study’s hypotheses.
Findings
The ordinary least square regression analysis results show that review volume, review valence, review variance and review length all positively influence idea popularity. In addition, users’ in-degree centrality positively interacts with review valence, review variance and review length to influence idea popularity, while their out-degree centrality negatively interacts with such effects.
Research limitations/implications
Drawing on the interactive marketing perspective, this study employs a large sample from the LEGO community and examines user design and idea popularity from a community member’s point of view. Moreover, this study is the first to confirm the role of online reviews and user network centrality in influencing idea popularity in OICs from a social network perspective. Furthermore, by integrating social network analysis and persuasion theories, this study confirms the interaction effects of review characteristics and users’ social network centrality on idea popularity.
Practical implications
This study’s results highlight that users should actively interact and share with reviewers their professional product design knowledge and/or the journey of their design to improve the volume of reviews on their user designs. Moreover, users could also draw more attention from other users by actively responding to heterogeneous reviews. In addition, users should be cautious with the number of people they follow and ensure that they improve their in-degree rather than out-degree centrality in their social networks.
Originality/value
This study integrates social network analysis and persuasion theories to explore the effects of online reviews and users’ centrality on idea popularity in OICs, a vital research issue that has been overlooked.
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Jeongsoo Han and Mina Jun
The purpose of this paper is to investigate how the characteristic of mobile devices, particularly high accessibility, influences a consumer's intention to post an online review…
Abstract
Purpose
The purpose of this paper is to investigate how the characteristic of mobile devices, particularly high accessibility, influences a consumer's intention to post an online review depending on the valence of consumption experiences.
Design/methodology/approach
This paper employs a between-subject design of experimental study based on different scenarios with 378 participants. A pretest is conducted to confirm that participants perceive the experimental scenarios as intended prior to proceeding with the main experimental study.
Findings
The authors’ experimental analysis shows that the intention to post a review of extreme positive and negative experiences is significantly higher when the level of accessibility for review-posting is high. By contrast, the intention to post a review of neutral consumption experiences is neither higher nor lower regardless of the level of accessibility.
Originality/value
The findings of this paper contribute to a better understanding of online reviews by demonstrating how high accessibility for review-posting have differential influences on the intentions to post online reviews depending on the valence of consumer experiences. The findings provide important theoretical and managerial implications.
研究目的
本文旨在探討移動設備的特徵,特別是其高可及性,如何因應消費者的消費體驗效價影響他們在網上發佈評論的意慾。
研究設計/方法/理念
:本文採用實驗研究的被試間設計,基於不同情景,並涵蓋378名參與者。研究人員在主要的實驗研究前進行了預先測試、以確認參與者對實驗情景的理解是和預期的一樣。
研究結果
我們的實驗分析顯示、當發佈評論的可及性水平是高的時候,消費者發佈關於他們極良好或極負面的消費體驗的評論意慾會顯著提升。相比之下、他們發佈中性消費體驗的意慾則不會因可及性的水平而有所增減。
研究的原創性/價值
本文的研究結果有助我們更了解網上的評論,這是由於研究結果顯示了消費者在網上發佈評論的意慾如何因應其消費體驗效價、受發佈評論的高可及性水平影響。這研究結果在理論及管理方面具有重要的意義。
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Hasan A. Abbas, Kamel Rouibah and Nabeel Al-Qirim
This study aims to explore the antecedent factors that directly and indirectly influence electronic word of mouth (eWoM) for social commerce (s-commerce) in two developing…
Abstract
Purpose
This study aims to explore the antecedent factors that directly and indirectly influence electronic word of mouth (eWoM) for social commerce (s-commerce) in two developing countries (e.g. Kuwait and the United Arab Emirates [UAE]) by extending social cognitive theory.
Design/methodology/approach
This study uses a previous robust model (Rouibah et al., 2021) as theoretical background to investigate and compares the antecedents (trust in Instagram, perceived risks) on eWoM for s-commerce through the mediation of three mediators (perceived enjoyment, perceived value and customer satisfaction) among two Arab countries. Data was collected from Kuwait (n = 1,132) and the UAE (n = 190). Different statistical analyses and structured equation modeling-based analysis of moment structure are used to test the robustness of the research model.
Findings
This study found customer satisfaction to be most important factor that mediates the effect independent factors on eWoM for s-commerce in both countries. Surprisingly, perceived enjoyment has no effect, and trust in Instagram and perceived risks are the most important factors that are considered imperative for customer satisfaction and positive feedback.
Research limitations/implications
One limitation of this study is that the author does not focus on the difference between the effects of textual and graphical information on customers’ decisions and trust in buying merchandise. Another limitation is that this study focuses on Kuwait and the UAE. Other Gulf Cooperation Council countries are also growing exponentially, and mobile and internet penetration rates are booming; they could be a trigger for more studies on whether differences occur among all of them.
Practical implications
The first implication is that it is the first in its field to extend the effects of eWoM. To the best of the author’s knowledge, compared to the online research this study is unique because the authors examine six factors for eWoM in s-commerce using the Instagram platform as opposed to other platforms.
Social implications
The third implication of this study is that the previous ones have applied eWoM to different subjects of e-commerce such as tourism and marketing but have concentrated less on s-commerce, where in-depth research is needed much more to explore factors and theories that explain human behavior.
Originality/value
Furthermore, most of these studies have focused on the intention to use (Dincer and Dincer, 2023; X. Hu, Chen, Davison, and Liu, 2022; Zhou et al., 2023). However, the attention in this research is on the actual use.
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Nadeem Rais, Akash Ved, Rizwan Ahmad, Kehkashan Parveen and Mohd. Shadab
Renal failure is an end-stage consequence after persistent hyperglycemia during diabetic nephropathy (DN), and the etiology of DN has been linked to oxidative stress. The purpose…
Abstract
Purpose
Renal failure is an end-stage consequence after persistent hyperglycemia during diabetic nephropathy (DN), and the etiology of DN has been linked to oxidative stress. The purpose of this research was to determine the beneficial synergistic effects of S-Allyl Cysteine (SAC) and Taurine (TAU) on oxidative damage in the kidneys of type 2 diabetic rats induced by hyperglycemia.
Design/methodology/approach
Experimental diabetes was developed by administering intraperitoneal single dose of streptozotocin (STZ; 65 mg/kg) with nicotinamide (NA; 230 mg/kg) in adult rats. Diabetic and control rats were treated with SAC (150 mg/kg), TAU (200 mg/kg) or SAC and TAU combination (75 + 100 mg/kg) for four weeks. The estimation of body weight, fasting blood glucose (FBG), oral glucose tolerance test (OGTT), oxidative stress markers along with kidney histopathology was done to investigate the antidiabetic potential of SAC/TAU in the NA/STZ diabetic group.
Findings
The following results were obtained for the therapeutic efficacy of SAC/TAU: decrease in blood glucose level, decreased level of thiobarbituric acid reactive substances (TBARS) and increased levels of GSH, glutathione-s-transferase (GST) and catalase (CAT). SAC/TAU significantly modulated diabetes-induced histological changes in the kidney of rats.
Originality/value
SAC/TAU combination therapy modulated the oxidative stress markers in the kidney in diabetic rat model and also prevented oxidative damage as observed through histopathological findings.
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Ivan Soukal, Jan Mačí, Gabriela Trnková, Libuse Svobodova, Martina Hedvičáková, Eva Hamplova, Petra Maresova and Frank Lefley
The primary purpose of this paper is to identify the so-called core authors and their publications according to pre-defined criteria and thereby direct the users to the fastest…
Abstract
Purpose
The primary purpose of this paper is to identify the so-called core authors and their publications according to pre-defined criteria and thereby direct the users to the fastest and easiest way to get a picture of the otherwise pervasive field of bankruptcy prediction models. The authors aim to present state-of-the-art bankruptcy prediction models assembled by the field's core authors and critically examine the approaches and methods adopted.
Design/methodology/approach
The authors conducted a literature search in November 2022 through scientific databases Scopus, ScienceDirect and the Web of Science, focussing on a publication period from 2010 to 2022. The database search query was formulated as “Bankruptcy Prediction” and “Model or Tool”. However, the authors intentionally did not specify any model or tool to make the search non-discriminatory. The authors reviewed over 7,300 articles.
Findings
This paper has addressed the research questions: (1) What are the most important publications of the core authors in terms of the target country, size of the sample, sector of the economy and specialization in SME? (2) What are the most used methods for deriving or adjusting models appearing in the articles of the core authors? (3) To what extent do the core authors include accounting-based variables, non-financial or macroeconomic indicators, in their prediction models? Despite the advantages of new-age methods, based on the information in the articles analyzed, it can be deduced that conventional methods will continue to be beneficial, mainly due to the higher degree of ease of use and the transferability of the derived model.
Research limitations/implications
The authors identify several gaps in the literature which this research does not address but could be the focus of future research.
Practical implications
The authors provide practitioners and academics with an extract from a wide range of studies, available in scientific databases, on bankruptcy prediction models or tools, resulting in a large number of records being reviewed. This research will interest shareholders, corporations, and financial institutions interested in models of financial distress prediction or bankruptcy prediction to help identify troubled firms in the early stages of distress.
Social implications
Bankruptcy is a major concern for society in general, especially in today's economic environment. Therefore, being able to predict possible business failure at an early stage will give an organization time to address the issue and maybe avoid bankruptcy.
Originality/value
To the authors' knowledge, this is the first paper to identify the core authors in the bankruptcy prediction model and methods field. The primary value of the study is the current overview and analysis of the theoretical and practical development of knowledge in this field in the form of the construction of new models using classical or new-age methods. Also, the paper adds value by critically examining existing models and their modifications, including a discussion of the benefits of non-accounting variables usage.
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The focus of this paper is in Q-Lasso introduced in Alghamdi et al. (2013) which extended the Lasso by Tibshirani (1996). The closed convex subset Q belonging in a Euclidean m…
Abstract
The focus of this paper is in Q-Lasso introduced in Alghamdi et al. (2013) which extended the Lasso by Tibshirani (1996). The closed convex subset Q belonging in a Euclidean m-space, for
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This study aims to explore the potential that acting proenvironmentally protects adolescents from developing materialistic value.
Abstract
Purpose
This study aims to explore the potential that acting proenvironmentally protects adolescents from developing materialistic value.
Design/methodology/approach
Convenience sampling was adopted to collect data from two randomly selected secondary schools in central China. A total of 784 participants were included in the survey.
Findings
The mediation analysis revealed that adolescent proenvironmental behaviour was negatively associated with materialism. The results of the moderated mediation model showed that psychological entitlement mediates the association between adolescent proenvironmental behaviour and materialism, and that family socioeconomic status acts as a moderator in the association between proenvironmental behaviour and psychological entitlement.
Practical implications
The current results advise educational practitioners on alleviating adolescent materialism. Policy makers and schools can add more environmental practice to the curriculum and extracurricular activities. Moreover, identifying the personal benefits of proenvironmental behaviour can motivate young people to act proenvironmentally, which not only factually reduces over-consumption but also attracts more attention from young people to the environment.
Originality/value
Previous studies rarely explored the individual belief or perception accounting for the negative association between proenvironmental behaviour and materialism. Therefore, the authors adopt psychological entitlement, a belief reflecting the dark side of individual perception, to explain why proenvironmental behaviour reduces materialism.
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Paul Ratanasiripong, Takashi China, Nop T Ratanasiripong and Shiho Toyama
The purpose of this paper is to describe the mental health issues among teachers globally and to investigate the significant factors that specifically impact the mental health of…
Abstract
Purpose
The purpose of this paper is to describe the mental health issues among teachers globally and to investigate the significant factors that specifically impact the mental health of school teachers in Okinawa, Japan.
Design/methodology/approach
This cross-sectional study examined depression, anxiety, stress, self-esteem and resiliency among 174 teachers from seven schools in Okinawa, Japan. The study questionnaire consisted of four parts, including demographic data, Depression, Anxiety, and Stress scale (DASS-42), Rosenberg Self-Esteem Scale (RSE), and Connor-Davidson Resiliency Scale (CD-RISC). Multiple regression analyses were performed to identify predictors of mental health variables.
Findings
Of the 174 teachers, 111 were females (64%) and 60 were males (35%). Average age of participants was 41.65 (SD = 10.07). Average number of years being a teacher was 15.50 (SD = 9.88). There was a significant gender difference in the level of self-esteem. Significant differences in anxiety were found among varying grade levels taught. Regression analyses indicated that resiliency and self-esteem significantly predicted depression, anxiety and stress among school teachers in Okinawa.
Originality/value
This is the first study among school teachers in Okinawa that examined the impact of resiliency and self-esteem on their mental health. To reduce psychological distress common within the teaching profession, social and environmental support should be provided within the school to better foster the successful promotion of teacher resiliency and self-esteem.