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Available. Open Access. Open Access
Article
Publication date: 9 August 2023

Jie Zhang, Yuwei Wu, Jianyong Gao, Guangjun Gao and Zhigang Yang

This study aims to explore the formation mechanism of aerodynamic noise of a high-speed maglev train and understand the characteristics of dipole and quadrupole sound sources of…

552

Abstract

Purpose

This study aims to explore the formation mechanism of aerodynamic noise of a high-speed maglev train and understand the characteristics of dipole and quadrupole sound sources of the maglev train at different speed levels.

Design/methodology/approach

Based on large eddy simulation (LES) method and Kirchhoff–Ffowcs Williams and Hawkings (K-FWH) equations, the characteristics of dipole and quadrupole sound sources of maglev trains at different speed levels were simulated and analyzed by constructing reasonable penetrable integral surface.

Findings

The spatial disturbance resulting from the separation of the boundary layer in the streamlined area of the tail car is the source of aerodynamic sound of the maglev train. The dipole sources of the train are mainly distributed around the radio terminals of the head and tail cars of the maglev train, the bottom of the arms of the streamlined parts of the head and tail cars and the nose tip area of the streamlined part of the tail car, and the quadrupole sources are mainly distributed in the wake area. When the train runs at three speed levels of 400, 500 and 600 km·h−1, respectively, the radiated energy of quadrupole source is 62.4%, 63.3% and 71.7%, respectively, which exceeds that of dipole sources.

Originality/value

This study can help understand the aerodynamic noise characteristics generated by the high-speed maglev train and provide a reference for the optimization design of its aerodynamic shape.

Details

Railway Sciences, vol. 2 no. 3
Type: Research Article
ISSN: 2755-0907

Keywords

Available. Open Access. Open Access
Article
Publication date: 11 March 2022

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.

1898

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.

Details

China Accounting and Finance Review, vol. 24 no. 1
Type: Research Article
ISSN: 1029-807X

Keywords

Available. Open Access. Open Access
Article
Publication date: 3 October 2024

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…

363

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.

Details

China Accounting and Finance Review, vol. 26 no. 5
Type: Research Article
ISSN: 1029-807X

Keywords

Available. Open Access. Open Access
Article
Publication date: 29 December 2023

Ajimon George and Jobin Sahadevan

This study aims to deal with the paucity of studies in the stages of the development of loyalty behaviour of customers in the healthcare context by incorporating three crucial…

1577

Abstract

Purpose

This study aims to deal with the paucity of studies in the stages of the development of loyalty behaviour of customers in the healthcare context by incorporating three crucial service quality dimensions (physical environment, personnel quality and technical quality) and also investigating trust and commitment as mediating factors.

Design/methodology/approach

Survey data were obtained from 420 respondents admitted to government hospitals in Kerala employing a convenience sampling method. The formulated hypotheses were tested using partial least square structural equation modelling.

Findings

Results indicate that patient satisfaction, trust and commitment can create favourable behavioural intentions amongst patients. When patients reveal higher trust, they are more inclined to value healthcare services and willing to commit to a long-term relationship, resulting in increased patient loyalty.

Practical implications

Organisational efforts should improve trust and commitment and build a good relationship between service providers and patients. Efforts should be taken to raise the standard of technical and personnel aspects, and a focus on physical infrastructure should also be considered to build a favourable behavioural intention to revisit and positive referrals.

Originality/value

This is the first empirical study to analyse technical quality, personnel quality and physical environment along with the mediating effect of trust, and commitment in a four-stage loyalty development model in the healthcare context of Kerala, India.

Details

Rajagiri Management Journal, vol. 18 no. 2
Type: Research Article
ISSN: 0972-9968

Keywords

Available. Open Access. Open Access
Article
Publication date: 18 August 2022

Hong Fan and Liqiang Chen

The purpose of this paper is to investigate the effects of political connections on the association between firms' business strategy and their tax aggressiveness in an emerging…

3202

Abstract

Purpose

The purpose of this paper is to investigate the effects of political connections on the association between firms' business strategy and their tax aggressiveness in an emerging economy such as China.

Design/methodology/approach

The authors study a large sample of Chinese public firms from 2011 to 2017 using a panel regression model. In addition, a change analysis, an instrument variable test and alternative measures/samples are implemented as robustness tests.

Findings

Firms adopting innovative business strategy are more tax aggressive overall. However, innovative firms with political connections are less tax aggressive compared to those without political connections.

Originality/value

This paper contributes to the understanding of firms' tax behaviors in an emerging economy setting. It suggests that there are costs associated with political connections, such as foregone tax saving opportunities, which are understudies in the prior literature.

Details

China Accounting and Finance Review, vol. 25 no. 2
Type: Research Article
ISSN: 1029-807X

Keywords

Available. Open Access. Open Access
Article
Publication date: 22 March 2019

Ann M. Manzardo, Brianna Ely and Maria Cristina Davila

We previously examined the efficacy of rTMS for major depressive disorder in an applied clinical practice. Clinical response was related to severity of depression as well as the…

487

Abstract

We previously examined the efficacy of rTMS for major depressive disorder in an applied clinical practice. Clinical response was related to severity of depression as well as the rTMS instrument utilized suggesting a relationship to instrument or magnetic field parameters and individual factors. The effectiveness of repetitive transcranial magnetic stimulation (rTMS) in the treatment of major depressive disorder was further evaluated using Log-Rank statistics for time to remission outcomes. A follow-up retrospective medical records study was carried out on patients with major depressive disorder undergoing rTMS therapy at AwakeningsKC Clinical Neuroscience Institute (CNI), a suburban tertiary psychiatric clinic. Cox Proportional Hazard with Log-Rank statistics were applied and the time course to clinical remission was evaluated over a 6-week period with respect to age, gender, and depression severity. Clinical response was observed referencing two different rTMS instruments (MagVenture; NeuroStar). Time to remission studies of 247 case reports (N=98 males; N=149 females) showed consistently greater clinically defined remission rates after 6 weeks of rTMS treatment for patients using the MagVenture vs NeuroStar instrument. Patients previously admitted for inpatient psychiatric hospitalization exhibited higher response rates when treated with the MagVenture rTMS unit. Stepwise Cox Proportional Hazards Regression final model of time to remission included rTMS unit, inpatient psychiatric hospitalization and obese body habitus. Response to rTMS in applied clinical practice is related to severity of psychiatric illness and may require consideration of magnetic field parameters of the rTMS unit with respect to individual factors such as sex or body composition.

Details

Mental Illness, vol. 11 no. 1
Type: Research Article
ISSN: 2036-7465

Keywords

Available. Open Access. Open Access
Article
Publication date: 22 March 2019

Maria Cristina Davila, Brianna Ely and Ann M. Manzardo

Repetitive transcranial magnetic stimulation (rTMS) is a neurostimulatory technique used to modulate orbital frontal corticostriatal (OFC) activity and clinical symptomatology for…

655

Abstract

Repetitive transcranial magnetic stimulation (rTMS) is a neurostimulatory technique used to modulate orbital frontal corticostriatal (OFC) activity and clinical symptomatology for psychiatric disorders involving OFC dysfunction. We examined the effectiveness of rTMS in the treatment of major depressive disorder in an applied clinical setting (Awakening KC CNI) to assess efficacy and optimize rTMS parameters within clinical practice. A retrospective review of medical records was carried out on patients with major depressive disorder undergoing rTMS therapy at Awakenings KC Clinical Neuroscience Institute (CNI), a suburban tertiary psychiatric clinic. A detailed de-identified data set of clinical outcomes was compiled. Patient Health Questionnaire 9 (PHQ-9) total score, clinical remission rate and week achieved were evaluated over 6 weeks of treatment to assess clinical response referencing two different rTMS instruments (MagVenture; NeuroStar). Our survey included 247 participants from males (N=98) and females (N=149) with average baseline PHQ-9 scores of 21.7±4, classified as severe depression. Clinically rated remission rates of 72% were achieved in 3.1±1.0 weeks and associated with prior history of psychiatric hospitalization, suicide attempts and substance use disorder. Average baseline PHQ-9 scores decreased significantly over time with proportionately greater remission rates achieved for patients treated using the MagVenture over NeuroStar instrument. rTMS in applied clinical practice is efficacious over a wide range of settings and patients. Clinical response was related to severity of depression symptoms (e.g., prior hospitalization; suicide attempts) validating efficacy in critically ill groups. Clinical response may be impacted by rTMS instrument, magnetic field parameters or individual factors.

Details

Mental Illness, vol. 11 no. 1
Type: Research Article
ISSN: 2036-7465

Keywords

Available. Open Access. Open Access
Article
Publication date: 26 January 2018

Jano Jiménez-Barreto and Sara Campo-Martínez

An official destination website (ODW) is a key component for tourist’s decision-making processes. ODW acts as a direct channel where users may share experiences and opinions about…

8692

Abstract

Purpose

An official destination website (ODW) is a key component for tourist’s decision-making processes. ODW acts as a direct channel where users may share experiences and opinions about previous or future travels. At the same time, it drives user participation in destination branding activities. In this context, it is crucial to identify how the destination website, using Web 2.0 technologies, could motivate user’s participation with the brand. The purpose of this paper is to propose and evaluate a model that posits the destination website quality as a determinant factor to predict users’ attitudes toward the website and their willingness to participate in co-creation experiences.

Design/methodology/approach

Using a combined qualitative and quantitative method, this paper provides an exploratory research that examines the role of destination website quality on attitudes toward the website and the willingness to participate in online co-creation experiences.

Findings

Findings confirm that there is a direct and significant relationship between website quality, attitudes toward the website and willingness to participate in online co-creation experiences. Moreover, attitudes toward the website partially mediate relationships between destination website quality and willingness to participate in online co-creation experiences.

Originality/value

The literature of value co-creation is trying to identify which factors drive consumer’s participation with brands across different consumption contexts. This study provides evidence that confirms, from a tourism destination website point of view, that website quality is one of these key factors that motives user’s co-creation with a destination.

Details

European Journal of Management and Business Economics, vol. 27 no. 1
Type: Research Article
ISSN: 2444-8451

Keywords

Available. Open Access. Open Access
Article
Publication date: 31 January 2025

Juan Wang, Rongjie Wei and Huan Zhang

This study is of great significance in revealing the interactive and coordinated relationship between tourism development and the ecological environment, improving the level of…

40

Abstract

Purpose

This study is of great significance in revealing the interactive and coordinated relationship between tourism development and the ecological environment, improving the level of environmental governance in the process of tourism economic development and realising the dual-carbon goal and sustainable development of the tourism industry.

Design/methodology/approach

This paper performs slack-based measure (SBM)-data envelopment analysis (DEA) analysis, benchmark regression and threshold effect measurement on a sample of 277 cities in China from 2011 to 2019, to estimate the impact of the digital economy on tourism eco-efficiency and to identify the moderating role of environmental regulation.

Findings

China’s tourism eco-efficiency shows a spatio-temporal characteristic of steady growth amid fluctuations. The digital economy has a positive facilitating effect on tourism eco-efficiency, which is non-linear with a single threshold effect (0.631), and when the level of the digital economy exceeds the threshold value, its facilitating effect increases from 0.696 to 0.927. Environmental regulation does not play the role of “the icing on the cake” during the digital economy’s impact on tourism eco-efficiency.

Originality/value

This study for the first time includes the digital economy, eco-efficiency and environmental regulation in the research perspective, and analysed the mechanism of action between the three, expanding the depth of research on the digital economy and environmental regulation in the field of tourism. Meanwhile, based on the development needs of policy specialisation and industrial refinement, this study has strong practical significance when conducted at the city level.

Details

Marine Economics and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2516-158X

Keywords

Available. Open Access. Open Access
Article
Publication date: 15 November 2022

Susanne Durst and Michael Leyer

Our understanding of the influence of institutional conditions on process innovation is still limited, despite managers’ need to know which factors should be considered in…

1797

Abstract

Purpose

Our understanding of the influence of institutional conditions on process innovation is still limited, despite managers’ need to know which factors should be considered in decision-making and governments should be aware of how to foster process innovation through the provision of attractive institutions. Therefore, this paper aims to examine how institutional dimensions such as workforce, political instability, labor regulation, corruption, tax administration and transportation influence process innovation in smaller firms located in emerging countries other than the BRICS (Brazil, Russia, India, China and South Africa).

Design/methodology/approach

A data set from the World Bank Enterprise Surveys questioning over 20,000 companies from 41 emerging countries supplemented by the gross domestic product (GDP) per capita for each country was used and analyzed by the means of general linear mixed models. The analysis emphasized small- and medium-sized enterprises (SMEs) and excluded BRICS countries.

Findings

The findings demonstrate which institutional factors matter for process innovation depending on company size and GDP.

Research limitations/implications

This paper advances research on the influence of institutions on firm innovation – the institution–process innovation relationship in emerging countries other than the BRICS in particular. By considering the role of company size and GDP per capita on the institution–process innovation relationship, the paper offers more nuanced insights compared with prior studies and thus makes a strong contribution to the innovation theory. The data used are not suitable for a longitudinal study the same refers to capturing the variety found in the countries even those coming from the same geographic area.

Practical implications

The results provide practitioners, e.g. managers of SMEs, with concrete ideas on how to improve process innovation in their companies. Other actors such as policymakers too can benefit from the results as they will allow the design of more target group-oriented measures, aspects that can ultimately lead to more sustainable businesses.

Originality/value

By focusing on process innovation and emerging countries, the paper contributes to growing research efforts in emerging countries beyond the BRICS. Thus, the results add more diversity to the study of process innovation and its influencing external (institutional) factors. The emphasis on SMEs also allows us to highlight differences between different categories of SMEs.

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