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Available. Open Access. Open Access
Article
Publication date: 3 April 2023

Radwan Alkebsee, Ahsan Habib and Junyan Li

This paper aims to examine the association between green innovation and the cost of equity in China. This study relies on the investors’ base perspective and shareholders’…

2287

Abstract

Purpose

This paper aims to examine the association between green innovation and the cost of equity in China. This study relies on the investors’ base perspective and shareholders’ perceived risk perspective to investigate the relation between green innovation and the cost of equity in China.

Design/methodology/approach

The paper uses firm-fixed effect regression for a sample of Chinese public companies for the period 2008–2018.

Findings

The authors find a negative relationship between green innovation and the cost of equity capital. This negative association is found to be more pronounced for less financially constrained firms, during periods of high economic policy uncertainty, and for firms with a strong internal control environment. Finally, the paper shows that the negative association became more pronounced after the passage of the Environmental Protection Law of China in 2012. The results remain robust to possible endogeneity concerns.

Originality/value

This study contributes to the green innovation literature by documenting that shareholders favorably view firms implementing green innovation policies. The study also has policy implications for Chinese regulators in improving the green credit policy.

Details

China Accounting and Finance Review, vol. 25 no. 3
Type: Research Article
ISSN: 1029-807X

Keywords

Available. Open Access. Open Access
Article
Publication date: 18 July 2024

Bo Zhang, Shengjun Wang and Ruixue Zhou

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

987

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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).

Research limitations/implications

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.

Practical implications

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.

Social implications

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.

Originality/value

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.

Details

China Accounting and Finance Review, vol. 26 no. 4
Type: Research Article
ISSN: 1029-807X

Keywords

Available. Open Access. Open Access
Article
Publication date: 7 May 2019

Yanan Wang, Jianqiang Li, Sun Hongbo, Yuan Li, Faheem Akhtar and Azhar Imran

Simulation is a well-known technique for using computers to imitate or simulate the operations of various kinds of real-world facilities or processes. The facility or process of…

1772

Abstract

Purpose

Simulation is a well-known technique for using computers to imitate or simulate the operations of various kinds of real-world facilities or processes. The facility or process of interest is usually called a system, and to study it scientifically, we often have to make a set of assumptions about how it works. These assumptions, which usually take the form of mathematical or logical relationships, constitute a model that is used to gain some understanding of how the corresponding system behaves, and the quality of these understandings essentially depends on the credibility of given assumptions or models, known as VV&A (verification, validation and accreditation). The main purpose of this paper is to present an in-depth theoretical review and analysis for the application of VV&A in large-scale simulations.

Design/methodology/approach

After summarizing the VV&A of related research studies, the standards, frameworks, techniques, methods and tools have been discussed according to the characteristics of large-scale simulations (such as crowd network simulations).

Findings

The contributions of this paper will be useful for both academics and practitioners for formulating VV&A in large-scale simulations (such as crowd network simulations).

Originality/value

This paper will help researchers to provide support of a recommendation for formulating VV&A in large-scale simulations (such as crowd network simulations).

Details

International Journal of Crowd Science, vol. 3 no. 1
Type: Research Article
ISSN: 2398-7294

Keywords

Available. Open Access. Open Access
Article
Publication date: 1 November 2023

Wen-Hong Chiu, Zong-Jie Dai and Hui-Ru Chi

This study aims to explore how manufacturing firms master customer lock-in through value creation by servitization innovation strategies from the perspective of asset specificity.

957

Abstract

Purpose

This study aims to explore how manufacturing firms master customer lock-in through value creation by servitization innovation strategies from the perspective of asset specificity.

Design/methodology/approach

A multiple case study with triangulation fashion is adopted to identify servitization innovation strategies. Several manufacturing firms were investigated, which are distributed in different positions of the value chain. Content analysis and abductive approaches are adopted to analyze the data. Moreover, an in-depth interview and participatory observation were conducted to refine the analysis results.

Findings

This study identified four different focusing points of servitization operations. Based on these, the paper further induces an innovative servitization strategy matrix of customer lock-in, concerning communion, intellectual, existential and insubstantial strategies. Furthermore, a conceptual model of customer lock-in by servitization innovation from the perspective of asset specificity is elaborated. It is suggested that companies can use tangible or intangible resources by sharing or storing operations to create servitization value.

Originality/value

This study theoretically proposes a conceptual model to extend servitization innovation as an intangible asset and adopt the new perspective of asset specificity to illustrate the value creation in servitization to generate customer lock-in.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 13
Type: Research Article
ISSN: 0885-8624

Keywords

Available. Open Access. Open Access
Article
Publication date: 10 September 2024

Liang Ren, Zerong Zhou, Yaping Fu, Ao Liu and Yunfeng Ma

This study aims to examine the impact of the decision makers’ risk preference on logistics routing problem, contributing to logistics behavior analysis and route integration…

180

Abstract

Purpose

This study aims to examine the impact of the decision makers’ risk preference on logistics routing problem, contributing to logistics behavior analysis and route integration optimization under uncertain environment. Due to the unexpected events and complex environment in modern logistics operations, the logistics process is full of uncertainty. Based on the chance function of satisfying the transportation time and cost requirements, this paper focuses on the fourth party logistics routing integrated optimization problem considering the chance preference of decision makers from the perspective of satisfaction.

Design/methodology/approach

This study used the quantitative method to investigate the relationship between route decision making and human behavior. The cumulative prospect theory is used to describe the loss, gain and utility function based on confidence levels. A mathematical model and an improved ant colony algorithm are employed to solve the problems. Numerical examples show the effectiveness of the proposed model and algorithm.

Findings

The study’s findings reveal that the dual-population improvement strategy enhances the algorithm’s global search capability and the improved algorithm can solve the risk model quickly, verifying the effectiveness of the improvement method. Moreover, the decision-maker is more sensitive to losses, and the utility obtained when considering decision-makers' risk attitudes is greater than that obtained when the decision-maker exhibits risk neutrality.

Practical implications

In an uncertain environment, the logistics decision maker’s risk preference directly affects decision making. Different parameter combinations in the proposed model could be set for decision-makers with different risk attitudes to fit their needs more accurately. This could help managers design effective transportation plans and improve service levels. In addition, the improved algorithm can solve the proposed problem quickly, stably and effectively, so as to help the decision maker to make the logistics path decision quickly according to the required confidence level.

Originality/value

Considering the uncertainty in logistics and the risk behavior of decision makers, this paper studies integrated routing problem from the perspective of opportunity preference. Based on the chance function of satisfying the transportation time and cost requirements, a fourth party logistics routing integrated optimization problem model considering the chance preference of decision makers is established. According to the characteristics of the problem, an improved dual-population ant colony algorithm is designed to solve the proposed model. Numerical examples show the effectiveness the proposed methods.

Details

Modern Supply Chain Research and Applications, vol. 6 no. 4
Type: Research Article
ISSN: 2631-3871

Keywords

Available. Open Access. Open Access
Article
Publication date: 25 February 2022

Hind Shafeeq Nimr Al-Maliki, Mahdi Salehi and Behzad Kardan

The present study aims to assess the potential impacts of board members' characteristics, including connectedness and independence, on the level of the firm's involvement in…

3294

Abstract

Purpose

The present study aims to assess the potential impacts of board members' characteristics, including connectedness and independence, on the level of the firm's involvement in innovation and corporate social responsibility (CSR).

Design/methodology/approach

Variables of board members' interlock and independence are selected for measuring the board characteristics and their association with innovation. The range of disclosure of social responsibility (SR) of the firms inside and outside the industries is also analyzed through descriptive-correlational. The selected sample includes 280 firm-years listed firms on Iraq Stock Exchange during 2012–2017 and 1,026 firm-years on the Tehran Stock Exchange. The hypotheses are examined using multivariate regression models and panel data.

Findings

The observations show that board interlock and independence in both countries are willing to improve firms' innovation. Moreover, having controlled the industry index, the authors find that business environment innovation is willing to be transmitted into the firms through outside industry sources in Iran. In the Iraq country, regardless of industry index, the positive association between interlocked boards and firm innovation is established. Further analyses also articulate that board interlock is not considered a mechanism to transmit information and experiences about CSR activities.

Originality/value

This paper is a pioneer study to assess the relationship between board member characteristics and the firms' innovation and SR both in Iran and Iraq. Also, it extends the literature by considering the industry index as a significant source of knowledge and experience to gain more precise results. Therefore, the current paper may contribute to the development of knowledge in this field of study.

研究目的

本研究擬評估董事會成員的特性 (這包括其連通性及自主性) ,如何潛在地影響公司投入創新和承擔企業社會責任的程度。

研究設計/方法/理念

董事會成員的相互扣連和自主獨立這些變數、被挑選來量度董事會的特性以及其與創新的關聯。本研究亦以描述性關連性研究法、來分析和透視公司在企業內外參與企業社會責任的範圍。被挑選的研究樣本包括於2012年至2017年間在伊拉克股票交易所280公司年上市公司,以及在德黑蘭股票交易所1026公司年。各假設均以多變量迴歸模型和縱橫資料來作分析研究。

研究結果

觀察的結果、證明在這兩個國家,富連通性和自主性的董事會均樂意改善公司的創新;而且,我們在控制行業指數後,發現在伊朗、企業環境創新會積極地透過外部行業資源訊息而發送至公司。在伊拉克,相互扣連的董事會與公司創新之間的正面關聯得到確立。而這關聯是不受行業指數影響的。而且,進一步的分析、明確顯示董事會的相互扣連不被認為是一個發送關於企業社會責任的資訊或經驗的機制。

研究的原創性/價值

本研究乃為先鋒研究、來評估在伊朗和伊拉克兩地董事會成員的特性,與公司創新和企業社會責任之間的關係。再者,本研究使有關的文獻得以伸延,方法是把行業指數當作是一個能提供更準確的研究結果的知識和經驗的重要來源;因此,本研究會為有關的研究領域、提供更多知識。

Details

European Journal of Management and Business Economics, vol. 32 no. 1
Type: Research Article
ISSN: 2444-8451

Keywords

Available. Open Access. Open Access
Article
Publication date: 7 May 2024

Giovanna Culot, Matteo Podrecca and Guido Nassimbeni

This study analyzes the performance implications of adopting blockchain to support supply chain business processes. The technology holds as many promises as implementation…

1779

Abstract

Purpose

This study analyzes the performance implications of adopting blockchain to support supply chain business processes. The technology holds as many promises as implementation challenges, so interest in its impact on operational performance has grown steadily over the last few years.

Design/methodology/approach

Drawing on transaction cost economics and the contingency theory, we built a set of hypotheses. These were tested through a long-term event study and an ordinary least squares regression involving 130 adopters listed in North America.

Findings

Compared with the control sample, adopters displayed significant abnormal performance in terms of labor productivity, operating cycle and profitability, whereas sales appeared unaffected. Firms in regulated settings and closer to the end customer showed more positive effects. Neither industry-level competition nor the early involvement of a project partner emerged as relevant contextual factors.

Originality/value

This research presents the first extensive analysis of operational performance based on objective measures. In contrast to previous studies and theoretical predictions, the results indicate that blockchain adoption is not associated with sales improvement. This can be explained considering that secure data storage and sharing do not guarantee the factual credibility of recorded data, which needs to be proved to customers in alternative ways. Conversely, improvements in other operational performance dimensions confirm that blockchain can support inter-organizational transactions more efficiently. The results are relevant in times when, following hype, there are signs of disengagement with the technology.

Details

International Journal of Operations & Production Management, vol. 44 no. 13
Type: Research Article
ISSN: 0144-3577

Keywords

Available. Open Access. Open Access
Article
Publication date: 22 November 2024

Hao Qi, Zhongjin Li and Yankai Wen

The financialization of the platform economy is a crucial part of the theoretical landscape of the platform economy. However, it has not yet received adequate attention from the…

103

Abstract

Purpose

The financialization of the platform economy is a crucial part of the theoretical landscape of the platform economy. However, it has not yet received adequate attention from the academic community. This deficiency has led to current research often neglecting the supportive role of finance capital in the platform economy, and consequently, there has been a lack of comprehensive interpretation of the generally poor profitability of platform companies. This paper aims to address the existing gap in the literature within this field.

Design/methodology/approach

This paper examines the role of finance capital, particularly venture capital, in the platform economy and offers a political economy analysis of the historical background, accumulation logic, and inherent contradictions of the financialization of the platform economy.

Findings

The paper argues that the advancement of new technologies, excess capital and labor supply in the post-crisis era, and the development of economic financialization, particularly the maturity and diffusion of the venture capital system, constitute the historical background of the financialization of the platform economy. Driven by finance capital, platform enterprises engage in excessive expansion to increase their financial valuations, forming a valuation-driven accumulation model. Financialization has caused the platform economy to deviate from its normal developmental trajectory. Platform enterprises exhibit higher shareholder payouts while simultaneously engaging in rapid investment expansion, leading to a trend of bubble-like development in the platform economy.

Originality/value

The financialization of the platform economy has exacerbated the socio-economic problems caused by disembeddedness, deepening the contradiction between the speculative logic of finance capital and the healthy development of the real economy. This profoundly reflects the obstruction posed by contemporary capitalist relations of production to the development of productive forces. This paper provides several key policy insights for the formulation and implementation of relevant policies in China.

Details

China Political Economy, vol. 7 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

Available. Open Access. Open Access
Article
Publication date: 10 January 2020

Jiwu Wang and Hongbo Sun

This paper aims to obtain optimal specialization mode and level for complex network or system structures. In the e-commerce system, this paper studies the changes of each…

529

Abstract

Purpose

This paper aims to obtain optimal specialization mode and level for complex network or system structures. In the e-commerce system, this paper studies the changes of each transaction subject in the process of ecological structure based on the income level of each transaction subject.

Design/methodology/approach

This paper aims to research the change of transaction efficiency evolution process of intermediaries. With the improvement of transaction efficiency, intermediaries interact with other transaction subjects at given modes in e-commerce systems. This paper analyzes the relationship between the factors of production and trade and explains the quantitative relationship between them in the form of mathematical modeling. An evolution simulation framework is established to elaborate the simulation process and method of crowd network in e-commerce ecosystem and then sets up the simulation experiment.

Findings

During simulation processes, the changes of data are observed and analyzed to obtain the optimal evolution paths and specialization modes. Furthermore, this paper provides solid supports for the research of the quantitative analysis of ecological structure evolutions.

Originality/value

Evolution simulation of ecological structure is first proposed in the topic of crowd network. It is with the aid of the concept of ecology, the theory and method, simulation of complex network structure and system structure. This paper analyses and researches the evolution process of optimal specialization modes and intelligent level of crowd networks with transaction efficiency changing. The ecological structure optimal evolution paths can be obtained by trend of simulations.

Details

International Journal of Crowd Science, vol. 4 no. 1
Type: Research Article
ISSN: 2398-7294

Keywords

Available. Open Access. Open Access
Article
Publication date: 9 April 2024

Ankita Kalia

This study aims to explore the relationship between promoter share pledging and the company’s dividend payout policy in India. Furthermore, this study also analyses the moderating…

857

Abstract

Purpose

This study aims to explore the relationship between promoter share pledging and the company’s dividend payout policy in India. Furthermore, this study also analyses the moderating impact of family involvement in business on the association between share pledging and dividend payout.

Design/methodology/approach

A sample of 236 companies from the S&P Bombay Stock Exchange Sensitive (BSE) 500 Index (2014–2023) has been analysed through fixed-effects panel data regression. For additional testing, robustness checks include alternative measures of dividend payout and promoter share pledging, as well as alternative methodologies such as Bayesian regression. Lastly, to address potential endogeneity, instrumental variables with a two-stage least squares (IV-2SLS) methodology have been implemented.

Findings

Upholding the agency perspective, a significantly negative impact of promoter share pledging on corporate dividend payouts in India has been uncovered. Moreover, family involvement in business moderates this relationship, highlighting that the negative association between promoter share pledging and dividend payouts is more pronounced in family companies. The findings are consistent throughout the robustness testing.

Originality/value

The present study represents a pioneering endeavour to empirically analyse the link between promoter share pledging and dividend payouts in India. It enhances the theoretical underpinnings of the agency relationship, particularly by substantiating the existence of Type II agency conflicts between majority and minority shareholders. The findings of this research bear significant implications for investors, researchers and policymakers, particularly in light of the widespread prevalence of promoter-controlled entities in India.

Details

Asian Journal of Economics and Banking, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2615-9821

Keywords

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