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This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing constraints, low-quality accounting information or less tangible assets.

We use a proprietary dataset of firms listed on the Shanghai and Shenzhen Stock Exchanges to investigate the impact of mixed ownership reform on non-state-owned enterprise (non-SOE) innovation. We employ regression analysis to examine the association between mixed ownership reform and firm innovation.

The study finds that non-state-owned firms can improve innovation by acquiring equity in state-owned enterprises (SOEs) under the reform. Eased financing constraints, lowered financing costs, better access to tax incentives or government subsidies, lowered agency costs, better accounting information quality and more credit loans are underlying the impact. Additionally, cross-ownership connections amongst non-SOE executives and government intervention strengthen the impact, whilst regional marketisation weakens it.

This study adds to the literature on the association between mixed ownership reform and firm innovation by focussing on the conditions under which this impact is stronger. It also sheds light on the policy implications for SOE reforms in emerging economies.

This work aims at proposing a novel Internet of Things (IoT)-based and cloud-assisted monitoring architecture for smart manufacturing systems able to evaluate their overall status and detect eventual anomalies occurring into the production. A novel artificial intelligence (AI) based technique, able to identify the specific anomalous event and the related risk classification for possible intervention, is hence proposed.

The proposed solution is a five-layer scalable and modular platform in Industry 5.0 perspective, where the crucial layer is the Cloud Cyber one. This embeds a novel anomaly detection solution, designed by leveraging control charts, autoencoders (AE) long short-term memory (LSTM) and Fuzzy Inference System (FIS). The proper combination of these methods allows, not only detecting the products defects, but also recognizing their causalities.

The proposed architecture, experimentally validated on a manufacturing system involved into the production of a solar thermal high-vacuum flat panel, provides to human operators information about anomalous events, where they occur, and crucial information about their risk levels.

Thanks to the abnormal risk panel; human operators and business managers are able, not only of remotely visualizing the real-time status of each production parameter, but also to properly face with the eventual anomalous events, only when necessary. This is especially relevant in an emergency situation, such as the COVID-19 pandemic.

The monitoring platform is one of the first attempts in leading modern manufacturing systems toward the Industry 5.0 concept. Indeed, it combines human strengths, IoT technology on machines, cloud-based solutions with AI and zero detect manufacturing strategies in a unified framework so to detect causalities in complex dynamic systems by enabling the possibility of products’ waste avoidance.

As an advanced manufacturing method, additive manufacturing (AM) technology provides new possibilities for efficient production and design of parts. However, with the continuous expansion of the application of AM materials, subtractive processing has become one of the necessary steps to improve the accuracy and performance of parts. In this paper, the processing process of AM materials is discussed in depth, and the surface integrity problem caused by it is discussed.

Firstly, we listed and analyzed the characterization parameters of metal surface integrity and its influence on the performance of parts and then introduced the application of integrated processing of metal adding and subtracting materials and the influence of different processing forms on the surface integrity of parts. The surface of the trial-cut material is detected and analyzed, and the surface of the integrated processing of adding and subtracting materials is compared with that of the pure processing of reducing materials, so that the corresponding conclusions are obtained.

In this process, we also found some surface integrity problems, such as knife marks, residual stress and thermal effects. These problems may have a potential negative impact on the performance of the final parts. In processing, we can try to use other integrated processing technologies of adding and subtracting materials, try to combine various integrated processing technologies of adding and subtracting materials, or consider exploring more efficient AM technology to improve processing efficiency. We can also consider adopting production process optimization measures to reduce the processing cost of adding and subtracting materials.

With the gradual improvement of the requirements for the surface quality of parts in the production process and the in-depth implementation of sustainable manufacturing, the demand for integrated processing of metal addition and subtraction materials is likely to continue to grow in the future. By deeply understanding and studying the problems of material reduction and surface integrity of AM materials, we can better meet the challenges in the manufacturing process and improve the quality and performance of parts. This research is very important for promoting the development of manufacturing technology and achieving success in practical application.

The concept of Construction 5.0 has emerged as the next frontier in construction practices and is characterized by the integration of advanced technologies with human-centered approaches, sustainable practices and resilience considerations to build smart and future-ready buildings. However, there is currently a gap in research that provides a comprehensive perspective on the opportunities and challenges of facilitating Construction 5.0. This study aims to explore the opportunities and challenges in facilitating Construction 5.0 and its potential to implement smart, sustainable and resilient buildings.

The structural equation modeling (SEM) method was used to evaluate the research model and investigate the opportunities and challenges related to Construction 5.0 in its implementation for smart, sustainable and resilient buildings.

The results show that adopting human-centric technology, sustaining resilience and maintaining sustainability in the architecture, engineering and construction (AEC) industry seizes the opportunities to overcome the challenges for facilitating Construction 5.0 in the implementation of smart, sustainable and resilient buildings.

The AEC industry facilitating Construction 5.0 has the potential to redefine the future of construction, creating a built environment that is not only intelligent, sustainable and resilient but also deeply connected with the well-being and values of the communities it serves.

The research illuminates the path forward for a holistic understanding of Construction 5.0, envisioning a future where smart, sustainable and resilient buildings stand as testaments to the harmonious collaboration between humans and technology.

Cloud Manufacturing (CM) is the manufacturing version of Cloud Computing and aims to increase flexibility in the provision of manufacturing services. On-demand manufacturing services can be requested by users to the cloud and this enables the concept of Manufacturing-as-a-Service (MaaS). Given the considerable number of prototypes and proofs of concept addressed in literature, this work seeks real CM platforms to study them from a business perspective, in order to discover what MaaS concretely means today and how these platforms are operating.

Since the number of real applications of this paradigm is very limited (if the authors exclude prototypes), the research approach is qualitative. The paper presents a multiple-case analysis of 6 different platforms operating in the manufacturing field today. It is based on empirical data and inductively researches differences among them (e.g. stakeholders, operational flows, capabilities offered and scalability level).

MaaS has come true in some contexts, and today it is following two different deployment models: open or closed to the provider side. The open architecture is inspired by a truly open platform which allows any company to be part of the pool of service providers, while the closed architecture is limited to a single service provider of the manufacturing services, as it happens in most cloud computing services.

The research shoots a picture of what MaaS offers today in term of capabilities, what are the deployment models and finally suggests a framework to assess different levels of development of MaaS platforms.

The study seeks to understand the possible opportunities that Industry 5.0 might offer for various aspects of inclusive sustainability. The study aims to discuss existing perspectives on the classification of Industry 5.0 technologies and their underlying role in materializing the sustainability values of this agenda.

The study systematically reviewed Industry 5.0 literature based on the PRISMA protocol. The study further employed a detailed content-centric review of eligible documents and conducted evidence mapping to fulfill the research objectives.

The advancement of Industry 5.0 is currently underway, with noteworthy initial contributions enriching its knowledge base. Although a unanimous definition remains lacking, diverse viewpoints emerge concerning the recognition of fundamental technologies and the potential for yielding sustainable outcomes. The expected contribution of Industry 5.0 to sustainability varies significantly depending on the context and the nature of underlying technologies.

Industry 5.0 holds the potential for advancing sustainability at both the firm and supply chain levels. It is envisioned to contribute proportionately to the three sustainability dimensions. However, the current discourse primarily dwells in theoretical and conceptual domains, lacking empirical exploration of its practical implications.

This study comprehensively explores diverse perspectives on Industry 5.0 technologies and their potential contributions to economic, environmental and social sustainability. Despite its promise, the practical evidence supporting the effectiveness of Industry 5.0 remains limited. Certain conditions are necessary to realize the benefits of Industry 5.0 fully, yet the mechanisms behind these conditions require further investigation. In this regard, the study suggests several potential areas for future research.

The study aims to explore the overall growth trend, top publishing countries, co-authorship and author keywords in the field of Industry 5.0.

This study presents the outcomes of a bibliometric analysis conducted using VOSviewer software. The analysis retrieved data from the Scopus database, including citations, co-authors, keywords, bibliometric coupling and co-occurrence.

The findings reveal a significant increase in publications and citations related to Industry 5.0 in recent years. China, the USA and India emerge as the leading countries driving research in this field. The co-authorship analysis indicates limited collaboration among authors, with only 48 out of 354 authors being linked through co-authorship. Through co-occurrence analysis, the investigation identifies the most frequently occurring keywords in the research, with “Industry 5.0” and “Industry 4.0” being the most frequently co-occurring keywords. The bibliographic coupling analysis identifies six clusters of research themes.

The study solely relies on data gathered from the Scopus database for analysis on a specific date. Therefore, data from other databases collected at different times may yield different observations and findings.

This study enhances the knowledge of professionals and academia in Industry 5.0, enabling the professionals to efficiently and sustainably manage the sector.

The bibliometric analysis presented in this study provides valuable insights into the contributions made by authors, keywords and co-authors to the field of Industry 5.0. Additionally, the thematic analysis summarized in this study is a novel contribution to the field.

This paper examines the impact of corporate digital transformation on employee satisfaction. Therefore, this study extends our understanding of the economic consequences of corporate digital transformation from employees’ perspectives.

The data used to construct our main proxy of employee satisfaction are collected from Kanzhun.com, which provides reviews by rank-and-file employees on their employers. This study uses a large sample of Chinese firms and adopts various empirical methods to examine the impact of digital transformation on employee satisfaction.

We find a significant positive relationship between corporate digital transformation and employee satisfaction. Moreover, we document that the relationship between corporate digital transformation and employee satisfaction is more pronounced in firms with higher labor intensity and in state-owned enterprises (SOE).

One significant limitation is that corporate digital transformation is constructed based on word frequency analysis. This approach may be influenced by variations in corporate disclosure practices and might not accurately capture the true extent of corporate digital transformation. This limitation is not only present in our research but is also pervasive in many other studies that utilize similar methodologies. Therefore, our results should be interpreted with this caveat in mind.

Our study suggests that corporate digital transformation enhances employee satisfaction, providing direct evidence for managers and regulators to promote corporate digital transformation. Through digital transformation, companies can not only improve operational efficiency but also foster employee satisfaction. This dual benefit underscores the importance of investing in corporate digital transformation for long-term success.

Our study suggests that corporate digital transformation enhances employee satisfaction, providing direct evidence for managers and regulators to promote corporate digital transformation. Through digital transformation, companies can not only improve operational efficiency but also foster employee satisfaction. This dual benefit underscores the importance of investing in corporate digital transformation for long-term success.

Our study contributes to the literature on the economic consequences of corporate digital transformation and extends existing research on the determinants of employee satisfaction. Additionally, it provides a novel measurement of employee satisfaction for a large sample of Chinese firms.

In this study, the authors provide a systematic literature review of articles in the emerging areas of green finance and discuss the status and challenges in sustainability disclosure, which is crucial for the efficiency of green financial instruments. The authors then review the literature on the economic implications of green finance and outline future research directions.

The authors use the analytical framework – Search, Appraisal, Synthesis, and Analysis (SALSA) to conduct the systematic review of the literature.

Increasing public attention to the environment motivates the use of green finance to fund environmentally sustainable projects, and the rise of green finance intensifies the demand for environmental disclosure. Literature has documented tremendous growth in sustainability reporting over time and around the globe, as well as raised concerns about how such reporting lack consistency, comparability, and assurance. Despite these challenges, the authors find that in general, the literature agrees that a firm’s green practice is positively associated with its financial performance and negatively related to a firm’s cost of capital. Green finance is also found to bring about enhanced risk management and economic development.

The authors provide one of the first reviews of green finance, sustainability disclosure and the impact of green finance on financial performance, capital market and economic development.

This study investigates whether corporate executives, who are university alumni, influence each other's firm corporate social responsibility (CSR) performance.

Drawing on social network theory, the authors hypothesise that a firm's CSR performance is positively associated with its peer firms' average CSR performance when the executives of the firm and its peer firms are university alumni. The study employs data from 1,685 listed firms and 4,906 executives who graduated from 585 different universities in China and runs multivariate regressions.

The results reveal a sizeable university peer influence on CSR performance. Such influence is even stronger for executives who graduated from elite universities (e.g. 985 or 211 universities), and universities or programmes that provide more opportunities for alumni reunions or networking (e.g. MBAs/EMBAs). Executives who are more influential in making firm decisions (e.g. CEOs/CFOs), as well as firms that are more likely to mimic the behaviour of others, also show higher degrees of university peer influence.

The results highlight the role of education in ethical decision-making.

This study documents evidence on a new determinant of firm CSR performance. The study sheds light on the impact of non-institutionalised personal ties, for example, university alumni networks, on CSR performance.