Joanne Jin Zhang, Charles Baden-Fuller and Jing Zhang
This study aims to explore how entrepreneurial firms' networking logics may change under different types of perceived uncertainty. The arrival of new knowledge from the…
Abstract
Purpose
This study aims to explore how entrepreneurial firms' networking logics may change under different types of perceived uncertainty. The arrival of new knowledge from the entrepreneurial firm's network may alter the perceived technology and market uncertainty that in turn determines how the firm adopts or combines the two opposing logics of causation and effectuation. Focusing on the roles of external advisors recruited by the firms, the study probes the details of the cyclical process and the mechanism through which networking logics are altered.
Design/methodology/approach
In this study the authors conducted a 3-year longitudinal multiple case study of 12 United Kingdom (UK) high-tech start-ups from prefounding to A-round funding with 54 semistructured interviews and meeting observations.
Findings
The knowledge of external advisors with distinct experience often reshapes the entrepreneurial firm's perceptions of uncertainty, leading to logics change in network development. The authors identify two types of knowledge brought by external advisors and discover how these can influence three networking logic pathways under different levels of technology and market uncertainty.
Originality/value
The study is one of the first to map the paths of changing logics along with different types of uncertainty in the context of entrepreneurial network development. The study unpacks one of the key mechanisms of networking logic changes: the knowledge and expertise of those advisors recruited by the entrepreneurial firms. The process model of changing logics contributes to the effectuation literature and entrepreneurial network research.
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Xiongfeng Pan, Xianyou Pan, Changyu Li, Jinbo Song and Jing Zhang
The purpose of this paper is to analyze the effect of environmental policy China’s national program to address climate change on carbon emission efficiency.
Abstract
Purpose
The purpose of this paper is to analyze the effect of environmental policy China’s national program to address climate change on carbon emission efficiency.
Design
Based on the directional distance function, the provincial total factor carbon emission efficiency was measured. Then, the authors analyzed the effect of environmental policy on carbon emission efficiency based on a difference in difference model.
Finding
Carbon emission efficiency has been significantly improved since the environmental policy China’s national program to address climate change was put forwarded, but the positive impact in different periods and regions is different. In addition, the environmental policy improves the carbon emission efficiency through the reduction of energy intensity and adjustment of the industrial structure.
Originality/value
This is the first time to use difference in difference model to use a difference in difference model to quantitatively assess the influence of environmental policy China’s national program to address climate change on carbon emission efficiency.
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Hui Ma, Shenglan Chen, Xiaoling Liu and Pengcheng Wang
To enrich the research on the economic consequences of enterprise digital development from the perspective of capacity utilization.
Abstract
Purpose
To enrich the research on the economic consequences of enterprise digital development from the perspective of capacity utilization.
Design/methodology/approach
Using a sample of listed firms from 2010 to 2020, this paper exploits text analysis of annual reports to construct a proxy for enterprise digital development.
Findings
Results show that enterprise digital development not only improves their own capacity utilization but also generates a positive spillover effect on the capacity utilization of peer firms and firms in the supply chain. Next, based on the incomplete information about market demand and potential competitors when making capacity-building decisions, the mechanism tests show that improving the accuracy of market forecasts and reducing investment surges are potential channels behind the baseline results. Cross-sectional tests show the baseline result is more pronounced when industries are highly homogeneous and when firms have access to less information.
Originality/value
This paper contributes to the research related to the economic consequences of digital development. With the development of the digital economy, the real effects of enterprise digital development have also triggered extensive interest and exploration. Existing studies mainly examine the impact on physical operations, such as specialization division of labor, innovation activities, business performance or total factor productivity (Huang, Yu, & Zhang, 2019; Yuan, Xiao, Geng, & Sheng, 2021; Wang, Kuang, & Shao, 2017; Li, Liu, & Shao, 2021; Zhao, Wang, & Li, 2021). These studies measure the economic benefits from the perspective of the supply (output) side but neglect the importance of the supply system to adapt to the actual market demand. In contrast, this paper focuses on capacity utilization, aimed at estimating the net economic effect of digital development by considering the supply-demand fit scenario. Thus, our findings enrich the relevant studies on the potential consequences of digital development.
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As the Chinese economy has grown rapidly and as its container throughputs has demonstrated a stark increase in recent decades, companies worldwide have developed stronger…
Abstract
As the Chinese economy has grown rapidly and as its container throughputs has demonstrated a stark increase in recent decades, companies worldwide have developed stronger financial connections with supply chain entities in China, a huge “Production Factory” in the world. This global economic trend arouses significant attention to distinct preference of individual entities in supply chain. The primary goal of the study is to establish statistical understanding on factors of logistics service preferences of each supply chain of each supply chain entity in China, especially Shandong Province. Ultimately, the study aims i) to establish the solid framework for proper evaluation of logistics services in supply chains, ii) to enhance the preferences of logistics services as a differentiating feature on behalf of entities. The study utilizes a holistic approach in analyzing logistics service attributes which affect overall logistics entities in an effort to overcome the limitations of previous studies which failed to provide integrating viewpoint of supply chain entities. In this study, AHP (Analytic Hierarchy Process) method is used as an analysis tool which allows an in-depth examination of the differences between factors and evaluations of customers regarding the logistics service attributes. The results clearly show distinctive service preferences for each four supply chain entities in Shandong Province of China such as 3PLs (forwarder, carrier, and warehouse), Customs (airport, seaport, and bonded area), Market channels (wholesaler, retailer, and e-retailer), and Manufacturers regarding the logistics service attributes.
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Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model…
Abstract
Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model innovation, plays an important role in elevating the standing of Shanghai Port as a container hub port and in developing China (Shanghai) Pilot Free Trade Zone. From the three dominant transfer service models, the waterway-waterway transfer for container logistics of Taicang Express Line has the traits and experience in streamlining logistics processes, innovating logistics clearance models, saving logistics operating costs, offering port logistics cooperation experience for replications and promoting integration of regional port logistics resources. However, it also harbors issues in infrastructure construction, staffing, container resources allocation and transportation, transportation efficiency and policy innovation. In the future, efforts should be invested to strengthening the construction and staffing of port logistics infrastructure, optimizing the container resources allocation and transport of port logistics systems, improving the logistics transportation efficiency of Taicang Express Line, and pushing forward innovation of the synergistic policy mechanism for regional port logistics.
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Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model…
Abstract
Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model innovation, plays an important role in elevating the standing of Shanghai Port as a container hub port and in developing China (Shanghai) Pilot Free Trade Zone. From the three dominant transfer service models, the waterway-waterway transfer for container logistics of Taicang Express Line has the traits and experience in streamlining logistics processes, innovating logistics clearance models, saving logistics operating costs, offering port logistics cooperation experience for replications and promoting integration of regional port logistics resources. However, it also harbors issues in infrastructure construction, staffing, container resources allocation and transportation, transportation efficiency and policy innovation. In the future, efforts should be invested to strengthening the construction and staffing of port logistics infrastructure, optimizing the container resources allocation and transport of port logistics systems, improving the logistics transportation efficiency of Taicang Express Line, and pushing forward innovation of the synergistic policy mechanism for regional port logistics.
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Xiaoyue Chen, Bin Li, Tarlok Singh and Andrew C. Worthington
Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure…
Abstract
Purpose
Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure to Chinese economic policy uncertainty at the individual stock level in large Asian markets.
Design/methodology/approach
We estimate the monthly uncertainty exposure (beta) for each stock and then employ the portfolio-level sorting analysis to investigate the relationship between the China’s uncertainty exposure and the future returns of major Asian markets over multiple trading horizons. The raw returns of the high-minus-low portfolios are then adjusted using conventional asset pricing models to investigate whether the relationship is explained by common risk factors. Finally, we check the robustness of the portfolio-level results through firm-level Fama and MacBeth (1973) regressions.
Findings
Applying portfolio-level sorting analysis, we reveal that exposure to Chinese uncertainty is negatively related to the future returns of large stocks over multiple trading horizons in Japan, Hong Kong and India. We discover this is unexplained by common risk factors, including market, size, value, profitability, investment and momentum, and is robust to the specification of stock-level Fama and MacBeth (1973) regressions.
Research limitations/implications
Our analysis demonstrates the spillover effects of Chinese economic policy uncertainty across the region, provides evidence of China's emerging economic leadership, and offers trading strategies for managing uncertainty risks.
Originality/value
The findings of the study significantly improve our understanding of stock return predictability in Asian markets. Unlike previous studies, our results challenge the leading role of the US by providing a new intra-regional return predictor, namely, China’s uncertainty exposure. These results also evidence the continuing integration of the Asian economy and financial markets. However, contrary findings for some Asian markets point toward certain market-specific features. Compared with market-level research, our analysis provides deeper insights into the performance of individual stocks and is of particular importance to investors and other market participants.
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Nengsheng Bao, Yuchen Fan, Chaoping Li and Alessandro Simeone
Lubricating oil leakage is a common issue in thermal power plant operation sites, requiring prompt equipment maintenance. The real-time detection of leakage occurrences could…
Abstract
Purpose
Lubricating oil leakage is a common issue in thermal power plant operation sites, requiring prompt equipment maintenance. The real-time detection of leakage occurrences could avoid disruptive consequences caused by the lack of timely maintenance. Currently, inspection operations are mostly carried out manually, resulting in time-consuming processes prone to health and safety hazards. To overcome such issues, this paper proposes a machine vision-based inspection system aimed at automating the oil leakage detection for improving the maintenance procedures.
Design/methodology/approach
The approach aims at developing a novel modular-structured automatic inspection system. The image acquisition module collects digital images along a predefined inspection path using a dual-light (i.e. ultraviolet and blue light) illumination system, deploying the fluorescence of the lubricating oil while suppressing unwanted background noise. The image processing module is designed to detect the oil leakage within the digital images minimizing detection errors. A case study is reported to validate the industrial suitability of the proposed inspection system.
Findings
On-site experimental results demonstrate the capabilities to complete the automatic inspection procedures of the tested industrial equipment by achieving an oil leakage detection accuracy up to 99.13%.
Practical implications
The proposed inspection system can be adopted in industrial context to detect lubricant leakage ensuring the equipment and the operators safety.
Originality/value
The proposed inspection system adopts a computer vision approach, which deploys the combination of two separate sources of light, to boost the detection capabilities, enabling the application for a variety of particularly hard-to-inspect industrial contexts.
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Utilizing the Marxist theory of unequal exchange to explain the terms of trade between nations, this paper elucidates one possible mechanism that…
Abstract
Purpose
Utilizing the Marxist theory of unequal exchange to explain the terms of trade between nations, this paper elucidates one possible mechanism that gives rise to ecologically unequal exchange between developed and developing economies.
Design/methodology/approach
We propose a two-sector linear production model and demonstrate that a decrease in the organic composition of capital and an increase in the rate of surplus value in a sector will lead to a relative price decrease and value transfer out of that particular sector, as well as increasing the environmental costs of trade. Furthermore, we measure the levels of unequal exchange (value transfer) and ecologically unequal exchange of 40 economies and empirically validate their relationship.
Findings
The findings suggest that an important cause of the ecologically unequal exchange is the value transfer between economies caused by the international division of labor and real wage disparities. The inequality in international trade is a significant factor contributing to the gap in the ecological environment level between developed and developing economies.
Originality/value
By introducing the theory of unequal exchange or value transfer into the analysis of ecological unequal exchange, we provide a mathematical framework for analyzing ecological unequal exchange and a method for calculating the scale of ecological unequal exchange and value transfer, thereby enhancing the theoretical depth and practical significance of the ecological unequal exchange theory.
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The main aim of this study is to highlight the significance of fostering social capital and improving the quality of work life (QWL) for the well-being of healthcare workers. The…
Abstract
Purpose
The main aim of this study is to highlight the significance of fostering social capital and improving the quality of work life (QWL) for the well-being of healthcare workers. The second objective of this research is to address a notable gap in the current knowledge by examining the mediating influence of QWL on the relationship between work-related social capital and life satisfaction within the healthcare profession.
Design/methodology/approach
This study used a cross-sectional research methodology to examine the complex relationships among the variables and included a sample of 330 individuals who are employed full-time in the healthcare profession in the North Indian Region.
Findings
The study confirms all research hypotheses, showing that social capital improves work life. Thus, work-life quality improves life satisfaction significantly. The mediation analysis in this study used bootstrapping to show that work-life quality mediates the association between social capital and life satisfaction.
Practical implications
Addressing social support issues and using effective human resource management tactics can improve employees’ work life and satisfaction. The findings are essential in collectivistic cultures because strong workplace relationships improve professional welfare.
Originality/value
This study differentiates itself by analysing social capital and QWL as multi-dimensional constructs inside the workplace, ensuring the results’ correctness and validity. This study provides a distinct viewpoint for scholars and practitioners, enhancing comprehension of the correlation between life satisfaction and work-related social capital within the healthcare industry.