Search results

The aim of this paper is to provide additional insights on the association between real earnings management (REM) and crash risk, particularly from the perspective of an emerging market economy. It also examines the moderation role that internal and external corporate governance may play in this area.

Relying on archival data from the RESSET and CSMAR databases over a timeframe from 2010 to 2018 of China listed company, the authors test the hypotheses by regressing common measures of crash risk on the treatment variable (REM) and crash risk control variables identified in the prior crash risk literature. The authors also introduce monitoring proxies (internal controls as an internal governance and institutional ownership as an external governance) and assess how effective internal and external governance moderate the relation between REM and stock price crash risk.

The results suggest firms with higher REM have a significantly greater stock price crash risk, and that this association is mitigated by external monitoring. That is, greater institutional ownership, particularly pressure insensitive owners, mitigates the impact of REM on stock price crash risk. However, internal control does not mitigate the association between REM and stock price crash risk.

Following the passage of the Sarbanes–Oxley (SOX) Act, prior research has documented an increase in the use of REM and a positive association between REM and cash risk. The authors demonstrate that they persist in one of the largest emerging markets where institutional regulations, market conditions and corporate behaviors are different from those in developed markets. Also, the assessment of the moderation effect of internal and external governance mechanisms could have meaningful implications for investors and regulators in Chinese and other emerging markets.

In this study, AlCoCrFeNi–Cu (Cu-based) and AlCoCrFeNi–Ti (Ti-based) high entropy alloys (HEAs) were fabricated using a direct blown powder technique via laser additive manufacturing on an A301 steel baseplate for aerospace applications. The purpose of this research is to investigate the electrical resistivity and oxidation behavior of the as-built copper (Cu)- and titanium (Ti)-based alloys and to understand the alloying effect, the HEAs core effects and the influence of laser parameters on the physical properties of the alloys.

The as-received AlCoCrFeNiCu and AlCoCrFeNiTi powders were used to fabricate HEA clads on an A301 steel baseplate preheated at 400°C using a 3 kW Rofin Sinar dY044 continuous-wave laser-deposition system fitted with a KUKA robotic arm. The deposits were sectioned using an electric cutting machine and prepared by standard metallographic methods to investigate the electrical and oxidation properties of the alloys.

The results showed that the laser power had the most influence on the physical properties of the alloys. The Ti-based alloy had better resistivity than the Cu-based alloy, whereas the Cu-based alloy had better oxidation residence than the Ti-based alloy which attributed to the compositional alloying effect (Cu, aluminum and nickel) and the orderliness of the lattice, which is significantly associated with the electron transportation; consequently, the more distorted the lattice, the easier the transportation of electrons and the better the properties of the HEAs.

It is evident from the studies that the composition of HEAs and the laser processing parameters are two significant factors that influence the physical properties of laser deposited HEAs for aerospace applications.

This paper studies the lateral stability regulation of intelligent electric vehicle (EV) based on model predictive control (MPC) algorithm.

Firstly, the bicycle model is adopted in the system modelling process. To improve the accuracy, the lateral stiffness of front and rear tire is estimated using the real-time yaw rate acceleration and lateral acceleration of the vehicle based on the vehicle dynamics. Then the constraint of input and output in the model predictive controller is designed. Soft constraints on the lateral speed of the vehicle are designed to guarantee the solved persistent feasibility and enforce the vehicle’s sideslip angle within a safety range.

The simulation results show that the proposed lateral stability controller based on the MPC algorithm can improve the handling and stability performance of the vehicle under complex working conditions.

The MPC schema and the objective function are established. The integrated active front steering/direct yaw moments control strategy is simultaneously adopted in the model. The vehicle’s sideslip angle is chosen as the constraint and is controlled in stable range. The online estimation of tire stiffness is performed. The vehicle’s lateral acceleration and the yaw rate acceleration are modelled into the two-degree-of-freedom equation to solve the tire cornering stiffness in real time. This can ensure the accuracy of model.

This study aims to reduce the redundant weight of the anti-roll torsion bar brought by the traditional empirical design and improving its strength and stiffness.

Based on the finite element approach coupled with the improved beluga whale optimization (IBWO) algorithm, a collaborative optimization method is suggested to optimize the design of the anti-roll torsion bar structure and weight. The dimensions and material properties of the torsion bar were defined as random variables, and the torsion bar's mass and strength were investigated using finite elements. Then, chaotic mapping and differential evolution (DE) operators are introduced to improve the beluga whale optimization (BWO) algorithm and run case studies.

The findings demonstrate that the IBWO has superior solution set distribution uniformity, convergence speed, solution correctness and stability than the BWO. The IBWO algorithm is used to optimize the anti-roll torsion bar design. The error between the optimization and finite element simulation results was less than 1%. The weight of the optimized anti-roll torsion bar was lessened by 4%, the maximum stress was reduced by 35% and the stiffness was increased by 1.9%.

The study provides a methodological reference for the simulation optimization process of the lateral anti-roll torsion bar.

This study aims to investigate whether temperature affects the product quality of exporters and whether the effect is non-linear. More specifically, whether the impact of high temperatures differs from the impact of low temperatures, and whether different types of companies or industries are affected differently.

The paper uses detailed data covering all Chinese exporters from 2000 to 2016 to estimate the effects of temperature on the product quality of export firms. To clarify the relationship between them, the authors use a semi-parametric regression method, trying to test whether there is a non-linear relationship between temperature and the export quality of firms.

The increase in the number of high temperature days significantly reduces the quality of exported products, and this negative effect increases as the temperature rises. High temperature has the most significant negative impact on export quality for firms with low technical complexity, private firms and firms with no intermediate imports and located in historical hot cities. Product quality of both labor-intensive and capital-intensive firms will be affected by heat. High temperatures have the greatest negative impact on the export quality of newly entering products, followed by exiting products, with the least negative impact on persisting product.

To the best of the authors’ knowledge, this paper is the first to examine the impact of temperature on the quality of economic development. The findings of this paper again show that the potential economic impacts of global warming are huge. In addition to some potentially devastating impacts in the future, global warming is already causing imperceptible impacts in the present. Public and economic agents need to fully understand the possible adverse impacts of climate change and take corresponding adaptation measures to cope with global warming.

The purpose of this trends paper is to offer insights into the technological changes affecting our cities and urban tourism destinations, and to explore avenues for further research and practice in the context of smart tourism destinations.

The literature on smart cities and smart tourism destinations is analysed in view of delivering a research agenda for a new generation of “post-smart” tourism destinations, beyond existing paradigms in this field.

Smart tourism research to date is found to be lacking in terms of addressing emerging (“post-smart”) social issues increasingly faced by global tourism cities, such as growing inequalities between host communities and visitors, wellness (e.g. slow tourism and slow cities) and resilience and mental health (e.g. digital detox), among others.

A post-smart approach to tourism city management and marketing calls for rethinking of existing tourism and urban policies that address wider sustainability issues exemplified by the urban transitions debate as well as adopting a more holistic networked approach to smartness involving entire regions. This also calls for the development of a new research agenda in urban tourism through a new prism – the post-smart “wise” tourism destination.

A new tourism futures construct – the “wise” tourism destination – is posited. This is done within the context of a new (“post-smart”) generation of tourism cities. It is argued that “wise” tourism cities will require novel attributes and adopt a visionary strategic positioning well beyond today’s smart tourism destination paradigms. Additionally, a tentative research agenda for “wise” tourism cities is discussed.

The purpose of this paper is to investigate the effect of internal control (IC) on earnings quality from the perspective of the capital market. Specifically, it examines the effect of IC on earnings response coefficients.

This study uses the moderated regression analysis on a sample of 1,310 Chinese listed firms on the Shanghai Stock Exchange (SSE) from 2020 to 2022. It employed an earnings response coefficient model by Holthausen and Verrecchia (1988) and used the IC score produced by the index created by the Shenzhen Dibo Enterprise Risk Management Technology, i.e. DIB IC, and risk management database.

The study finds that the capital market placed lower earnings reliability on companies with high IC. This suggests that investors perceived negatively on the IC score of China listed companies, possibly due to their negative perception on the reason for implementation of high IC by those companies. A high IC score may raise suspicion amongst investors that the company has internal issues.

This study adds to the limited studies on less regulated internal governance mechanisms from the perspective of the capital market. The contradictory result suggests the need for more studies before deriving a solid conclusion.

This study focusses on the under research area of IC rather than the common board of directors and from the perspective of Chinese economies, limited studies of developed countries.

Due to its fast growth, cross-border e-commerce (CBEC) is becoming a popular internationalization model, especially in those destination markets with impressive e-commerce development like China. However, CBEC also brings new logistics challenges and uncertainty. This paper aims to understand how companies cope with logistics uncertainty in this field and whether the different types of uncertainty influence the risk management strategies adopted to face them.

A survey targeting online exporters to China and third-party forwarding logistics service providers (3PFLs) is conducted. A structural equation model (SEM) analysis is performed to test the possible relationship between the adopted risk management strategies and the types of uncertainty. The type, industry and size of the company, as well as the distance between the company's home country and China, are used as control variables in the study. Survey results are enriched via interviews with some of the respondents.

The risk management strategies adopted are dependent on the type of logistics uncertainty that the companies face and, to a minor extent, on the industry the company operates in. Conversely, no significant influence is exerted by other types of control factors, i.e. home country, company size or company type.

The paper investigates logistics uncertainty and risk management approaches in the novel context of CBEC. A systematic review of relevant sources of uncertainty is offered to help both scholars and practitioners understand the current complexities of CBEC. From a theoretical perspective, the paper models the investigated concepts in light of the contingency approach. From a practical perspective, results can be of interest since the list of proposed items can support risk identification and evaluation while the interviews with managers can provide insights on risk management practices.

Electronic word-of-mouth (eWOM) has become one of the most influential information sources for consumers' purchase decision-making. Based on construal-level theory and from the perspective of cognitive effort, this study investigated the effects of eWOM social media types and conflicting eWOM on consumers' purchase intentions and validated the mediation role of social psychological distance, perceived value, and perceived cognitive effort.

Two scenario-based experiments were conducted to validate the research model. Specifically, a 2 (eWOM social media type: strong-tie vs weak-tie) × 2 (conflicting eWOM: with vs without) between-subjects design was used. ANOVA, multiple regression analysis with PROCESS, and partial least squares (PLS) were employed to test the hypotheses.

The results showed that eWOM social media types had significant effects on both social psychological distance and perceived value. The significant chain mediating effects of social psychological distance and perceived value between eWOM social media types and consumers' purchase intentions were found. In addition, conflicting eWOM had significant effects on both perceived value and perceived cognitive effort. Indirect effects of conflicting eWOM on purchase intention through perceived cognitive effort were discovered.

These results contribute to the eWOM literature by investigating the influences of eWOM social media types and conflicting eWOM on consumers' purchase intentions. They also contribute to construal-level theory by extending its applicability to the field of eWOM.

This paper uses test panel data for the biggest companies listed on the boards of directors of the Palestine Stock Exchange from 2016 to 2022 and will focus on the relationship between the corporate governance index, accounting conservatism, and the comprehensive index of corporate governance.

The relationship between corporate governance and accounting conservatism is experimentally investigated for its impact on the likelihood of stock price breakdown and decline among companies listed on the Palestine Stock Exchange between 2016 and 2022, using a mixed utilities approach.

The findings demonstrated the adverse correlation between corporate governance, accounting conservatism, and stock prices. Higher levels of corporate governance can effectively reduce the likelihood of future stock price increases, while conservative accounting policies can effectively prevent stock price collapses in these listed companies. Higher levels of corporate governance can greatly lessen the detrimental effect of accounting conservatism on the likelihood of future stock price breakdowns and declines. Both accounting conservatism and corporate governance have substitution effects in decreasing the danger of stock price collapse.

The limitations of the current research are that higher levels of corporate governance can significantly reduce the harmful effect of accounting conservatism on the probability of stock price breakdown and decline in the future on the study sample used, and these results cannot be generalized to all company stocks that were excluded in this study. The last research limitation is that the sample size of this study is somewhat small, and therefore the effects of the results cannot be used on all unlisted companies, and they cannot be generalized to all of these companies except only to companies listed on the Palestine Stock Exchange.

Our findings have interesting managerial and policy implications. Listed firms should first strengthen external audit oversight, improve the method of disclosing accounting information, and improve the system architecture to raise the level of accounting conservatism. Moreover, it is imperative to enhance and improve the ownership structure of publicly traded firms, construct a robust mechanism for replacing shareholders, fortify the duties of the board of directors, proficiently fulfil the role of independent directors, and develop and refine the internal and external framework for corporate governance.

This study provides insights about reducing the probability of a stock market breakdown and collapse from two sides: enhancing corporate governance, improving accounting conservatism, enhancing the reliability and integrity of disclosure, and growing the number of sustainable disclosures. These suggestions can also be used as a template for Palestine's capital market's gradual and sustainable expansion.