Haiyan Jiang, Jing Jia and Yuanyuan Hu
This study aims to investigate whether firms purchase directors' and officers' liability (D&O) insurance when the country-level economic policy uncertainty (EPU) is high.
Abstract
Purpose
This study aims to investigate whether firms purchase directors' and officers' liability (D&O) insurance when the country-level economic policy uncertainty (EPU) is high.
Design/methodology/approach
This study uses D&O insurance data from Chinese listed firms between 2003 and 2019 to conduct regression analyses to examine the association between D&O insurance and EPU.
Findings
The results show that government EPU, despite being an exogenous factor, increases the likelihood of firms' purchasing D&O insurance, and this effect is more pronounced when firms are exposed to great share price crash risk and high litigation risk, suggesting that firms intend to purchase D&O insurance possibly due to the accentuated stock price crash risk and litigation risk associated with EPU. In addition, the results indicate that the effect of EPU on the D&O insurance purchase decision is moderated by the provincial capital market development and internal control quality.
Practical implications
The study highlights the role of uncertain economic policies in shareholder approval of D&O insurance purchases.
Originality/value
The study enriches the literature on the determinants of D&O insurance purchases by documenting novel evidence that country-level EPU is a key institutional factor shaping firms' decisions to purchase D&O insurance.
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The purpose of this paper is to investigate whether management strategies implemented by non-commercial traders may be identified as a key factor in affecting oil price paths in…
Abstract
Purpose
The purpose of this paper is to investigate whether management strategies implemented by non-commercial traders may be identified as a key factor in affecting oil price paths in the conventional pre- and post-financialization periods.
Design/methodology/approach
By using a vector autoregressive approach the dynamic analysis of the daily stock indexes for some of the most important world economies and the oil prices is conducted starting from 1992 to the end of 2020.
Findings
The findings do not support the idea that the financial markets act as a privileged conduit in transmitting the shocks to the oil spot quotations.
Originality/value
Such a direct assessment has not been previously proposed in literature wherein – under a financial perspective – the returns are generally taken into consideration.
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Wenhua Guo, Xinmin Hong and Chunxia Chen
This paper aims to study the influence of aerodynamics force of trains passing each other on the dynamic response of vehicle bridge coupling system based on numerical simulation…
Abstract
Purpose
This paper aims to study the influence of aerodynamics force of trains passing each other on the dynamic response of vehicle bridge coupling system based on numerical simulation and multi-body dynamics and put forward the speed threshold for safe running of train under different crosswind speeds.
Design/methodology/approach
The computational fluid dynamics method is adopted to simulate the aerodynamic force in the whole process of train passing each other by using dynamic grid technology. The dynamic model of vehicle-bridge coupling system is established considering the effects of aerodynamic force of train passing each other under crosswind, the dynamic response of train intersection on the bridge under crosswind is computed and the running safety of the train is evaluated.
Findings
The aerodynamic force of trains' intersection has little effects on the derailment factor, lateral wheel-rail force and vertical acceleration of train, but it increases the offload factor of train and significantly increases the lateral acceleration of train. The crosswind has a significant effect on increasing the derailment factor, lateral wheel-rail force and offload factor of train. The offload factor of train is the key factor to control the threshold of train speed. The impact of the aerodynamic force of trains' intersection on running safety cannot be ignored. When the extreme values of crosswind wind speed are 15 m·s−1, 20 m·s−1 and 25 m·s−1, respectively, the corresponding speed thresholds for safe running of train are 350 km·h−1, 275 km·h−1 and 200 km·h−1, respectively.
Originality/value
The research can provide a more precise numerical method to study the running safety of high-speed trains under the aerodynamic effect of trains passing each other on bridge in crosswind.
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Tianyun Shi, Zhoulong Wang, Jia You, Pengyue Guo, Lili Jiang, Huijin Fu and Xu Gao
The safety of high-speed rail operation environments is an important guarantee for the safe operation of high-speed rail. The operating environment of the high-speed rail is…
Abstract
Purpose
The safety of high-speed rail operation environments is an important guarantee for the safe operation of high-speed rail. The operating environment of the high-speed rail is complex, and the main factors affecting the safety of high-speed rail operating environment include meteorological disasters, perimeter intrusion and external environmental hazards. The purpose of the paper is to elaborate on the current research status and team research progress on the perception of safety situation in high-speed rail operation environment and to propose directions for further research in the future.
Design/methodology/approach
In terms of the mechanism and spatio-temporal evolution law of the main influencing factors on the safety of high-speed rail operation environments, the research status is elaborated, and the latest research progress and achievements of the team are introduced. This paper elaborates on the research status and introduces the latest research progress and achievements of the team in terms of meteorological, perimeter and external environmental situation perception methods for high-speed rail operation.
Findings
Based on the technical route of “situational awareness evaluation warning active control,” a technical system for monitoring the safety of high-speed train operation environments has been formed. Relevant theoretical and technical research and application have been carried out around the impact of meteorological disasters, perimeter intrusion and the external environment on high-speed rail safety. These works strongly support the improvement of China’s railway environmental safety guarantee technology.
Originality/value
With the operation of CR450 high-speed trains with a speed of 400 km per hour and the application of high-speed train autonomous driving technology in the future, new and higher requirements have been put forward for the safety of high-speed rail operation environments. The following five aspects of work are urgently needed: (1) Research the single factor disaster mechanism of wind, rain, snow, lightning, etc. for high-speed railways with a speed of 400 kms per hour, and based on this, study the evolution characteristics of multiple safety factors and the correlation between the high-speed driving safety environment, revealing the coupling disaster mechanism of multiple influencing factors; (2) Research covers multi-source data fusion methods and associated features such as disaster monitoring data, meteorological information, route characteristics and terrain and landforms, studying the spatio-temporal evolution laws of meteorological disasters, perimeter intrusions and external environmental hazards; (3) In terms of meteorological disaster situation awareness, research high-precision prediction methods for meteorological information time series along high-speed rail lines and study the realization of small-scale real-time dynamic and accurate prediction of meteorological disasters along high-speed rail lines; (4) In terms of perimeter intrusion, research a multi-modal fusion perception method for typical scenarios of high-speed rail operation in all time, all weather and all coverage and combine artificial intelligence technology to achieve comprehensive and accurate perception of perimeter security risks along the high-speed rail line and (5) In terms of external environment, based on the existing general network framework for change detection, we will carry out research on change detection and algorithms in the surrounding environment of high-speed rail.
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Qingxiang Zhou, Fang Liu, Jingming Li, Jiankui Li, Shuangnan Zhang and Guixi Cai
This study aims to solve the problem of weld quality inspection, for the aluminum alloy profile welding structure of high-speed train body has complex internal shape and thin…
Abstract
Purpose
This study aims to solve the problem of weld quality inspection, for the aluminum alloy profile welding structure of high-speed train body has complex internal shape and thin plate thickness (2–4 mm), the conventional nondestructive testing method of weld quality is difficult to implement.
Design/methodology/approach
In order to solve this problem, the ultrasonic creeping wave detection technology was proposed. The impact of the profile structure on the creeping wave detection was studied by designing profile structural test blocks and artificial simulation defect test blocks. The detection technology was used to test the actual welded test blocks, and compared with the results of X-ray test and destructive test (tensile test) to verify the accuracy of the ultrasonic creeping wave test results.
Findings
It is indicated that that X-ray has better effect on the inspection of porosities and incomplete penetration defects. However, due to special detection method and protection, the detection speed is slow, which cannot meet the requirements of field inspection of the welding structure of aluminum alloy thin-walled profile for high-speed train body. It can be used as an auxiliary detection method for a small number of sampling inspection. The ultrasonic creeping wave can be used to detect the incomplete penetration welds with the equivalent of 0.25 mm or more, the results of creeping wave detection correspond well with the actual incomplete penetration defects.
Originality/value
The results show that creeping wave detection results correspond well with the actual non-penetration defects and can be used for welding quality inspection of aluminum alloy thin-wall profile composite welding joints. It is recommended to use the echo amplitude of the 10 mm × 0.2 mm × 0.5 mm notch as the criterion for weld qualification.
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Sergio de la Rosa, Pedro F. Mayuet, Cátia S. Silva, Álvaro M. Sampaio and Lucía Rodríguez-Parada
This papers aims to study lattice structures in terms of geometric variables, manufacturing variables and material-based variants and their correlation with compressive behaviour…
Abstract
Purpose
This papers aims to study lattice structures in terms of geometric variables, manufacturing variables and material-based variants and their correlation with compressive behaviour for their application in a methodology for the design and development of personalized elastic therapeutic products.
Design/methodology/approach
Lattice samples were designed and manufactured using extrusion-based additive manufacturing technologies. Mechanical tests were carried out on lattice samples for elasticity characterization purposes. The relationships between sample stiffness and key geometric and manufacturing variables were subsequently used in the case study on the design of a pressure cushion model for validation purposes. Differentiated areas were established according to patient’s pressure map to subsequently make a correlation between the patient’s pressure needs and lattice samples stiffness.
Findings
A substantial and wide variation in lattice compressive behaviour was found depending on the key study variables. The proposed methodology made it possible to efficiently identify and adjust the pressure of the different areas of the product to adapt them to the elastic needs of the patient. In this sense, the characterization lattice samples turned out to provide an effective and flexible response to the pressure requirements.
Originality/value
This study provides a generalized foundation of lattice structural design and adjustable stiffness in application of pressure cushions, which can be equally applied to other designs with similar purposes. The relevance and contribution of this work lie in the proposed methodology for the design of personalized therapeutic products based on the use of individual lattice structures that function as independent customizable cells.
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Lifu Li, Kyeong Kang and Osama Sohaib
This study aims to present the Chinese entrepreneurial environment and explore Chinese tertiary students’ online-startup motivation on live streaming platforms. Based on the COM-B…
Abstract
Purpose
This study aims to present the Chinese entrepreneurial environment and explore Chinese tertiary students’ online-startup motivation on live streaming platforms. Based on the COM-B behaviour changing theory, this paper discovers various influencing factors from environmental opportunity and personal capability aspects. It analyses their effects under the cooperative system established among official departments, industries and universities. Meanwhile, considering social and cultural control, it also refers to the uncertainty-avoidance dimension from the Hofstede cultural theory and re-evaluates its influence on Chinese tertiary students’ online-startup motivation.
Design/methodology/approach
The authors analyse 474 responses from online questionnaires through partial least squares path modelling and variance-based structural equation modelling. The paper claims that environmental opportunity and personal capability factors positively affect students’ online-startup motivation, but uncertainty-avoidance thinking plays a negative role. The study also measures the importance-performance map analysis to explore additional findings and discuss managerial implications.
Findings
Both platform support and official department support positively impact Chinese tertiary students’ online-startup motivation and entrepreneurial skills learned from universities are beneficial for them to build online-startup confidence. Meanwhile, influenced by the cooperative system implemented among official departments, industries and universities, official department support positively affects platform support and entrepreneurial skills. Conversely, influenced by Chinese traditional Confucian culture, uncertainty-avoidance thinking negatively affects tertiary students’ online-startup motivation.
Originality/value
This paper demonstrates the analysis of Chinese tertiary students’ online-startup motivation drawing on the COM-B behaviour changing and Hofstede cultural theories. Specifically, this study divides influencing factors into three specific aspects as follows: environmental opportunity, personal capability and social and cultural control. Unlike existing research applying traditional research models, the combination of the COM-B behaviour changing theory and the Hofstede cultural theory could be conducive to making the research model reflect influencing factors and present their different relationships.
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Yaqin Zou, Xuemei Jiang, Caiyun Wen and Yang Li
After the Collective Forest Tenure Reform (CFTR) in China, the enthusiasm of farmers for forestry management is stimulated. However, the forest tenure security varies among…
Abstract
Purpose
After the Collective Forest Tenure Reform (CFTR) in China, the enthusiasm of farmers for forestry management is stimulated. However, the forest tenure security varies among farmers, making the research conclusions of its impact on forestry management efficiency inconsistent. Based on the survey data of 1,627 households from the collective forest regions in 6 provinces of China in 2017, this paper not only discusses the differences of farmers' forestry management efficiency after the reform, but also further explores the heterogeneous impact of forest tenure security on forestry management efficiency in combination with different forest management types.
Design/methodology/approach
This study employed the stochastic frontier production function model to measure the forestry management efficiency of farmers. Then, Tobit models were used to discuss the influencing factors of farmers' forestry management efficiency.
Findings
The results demonstrate that the improvement of farmers' forest tenure security can effectively improve forestry management efficiency, but the effect is affected by forest management types. For farmers who manage economic forests and non-timber forests, safe tenure promotes the forestry management efficiency; while for those who manage ecological public welfare forests, tenure security plays an opposite role.
Originality/value
Therefore, satisfying farmers' differentiated demands for forest tenure according to forest management types to improve forest tenure security and further refining supporting policies of collective forestry reform is of great significance to improve the efficiency of farmers' forestry management in collective forest regions.
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Ibrahim Yitmen, Amjad Almusaed and Sepehr Alizadehsalehi
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Practical implications
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.
Originality/value
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.
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Sanshao Peng, Catherine Prentice, Syed Shams and Tapan Sarker
Given the cryptocurrency market boom in recent years, this study aims to identify the factors influencing cryptocurrency pricing and the major gaps for future research.
Abstract
Purpose
Given the cryptocurrency market boom in recent years, this study aims to identify the factors influencing cryptocurrency pricing and the major gaps for future research.
Design/methodology/approach
A systematic literature review was undertaken. Three databases, Scopus, Web of Science and EBSCOhost, were used for this review. The final analysis comprised 88 articles that met the eligibility criteria.
Findings
The influential factors were identified and categorized as supply and demand, technology, economics, market volatility, investors’ attributes and social media. This review provides a comprehensive and consolidated view of cryptocurrency pricing and maps the significant influential factors.
Originality/value
This paper is the first to systematically and comprehensively review the relevant literature on cryptocurrency to identify the factors of pricing fluctuation. This research contributes to cryptocurrency research as well as to consumer behaviors and marketing discipline in broad.