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This paper aims to review the research on accounting professionalisation in China to develop insights into how the research is developing, offer a critique of the research to date and outline future research directions and opportunities.

This paper adopts a methodological approach of systematic literature review, as suggested by Tranfield et al. (2003) and Denyer and Tranfield (2009), to identify, select and analyse the extant literature on the Chinese public accounting profession. In total, 68 academic works were included in the review process.

This paper finds that the extant literature has produced fruitful insights into the processes and underlying motivation of accounting professionalisation in China, demonstrating that the Chinese experience has differed, to a large extent, from the hitherto mainly Anglo-American-dominated understandings of accounting professionalisation. However, due to the lack of common theoretical vernacular and an agreed upon focus, the extant literature illustrates a fragmented and contradictory picture, making attempts to accumulate prior knowledge in the field increasingly difficult.

This paper focusses only on research published in English. Consequently, the scope of review has been limited as some works published in languages other than English may be excluded.

This paper provides one of the pioneering exercises to systematically review the research on accounting professionalisation in China. It explores significant issues arising from the analysis and provides several suggestions for furthering the research effort in this field.

Quantitative and spatial-explicit flood risk information is of great importance for strengthening climate change adaptation and flood resilience. Shanghai is a coastal megacity at large estuary delta with rising flood risks. This study aims to quantify the overall economic-societal risks of storm flooding and their spatial patterns in Shanghai.

Based on multiple storm flood scenarios at different return periods, as well as fine-scale data sets including gridded GDP, gridded population and vector land-use, a probabilistic risk model incorporating geographic information system is used to assess the economic-societal risks of flooding and their spatial distributions.

Our results show that, from 1/200 to 1/5,000-year floods, the exposed assets will increase from USD 85.4bn to USD 657.6bn, and the direct economic losses will increase from USD 3.06bn to USD 52bn. The expected annual damage (EAD) of assets is around USD 84.36m. Hotpots of EAD are mainly distributed in the city center, the depressions along the upper Huangpu River in the southwest, the north coast of Hangzhou Bay, and the confluence of the Huangpu River and Yangtze River in the northeast. From 1/200 to 1/5,000-year floods, the exposed population will rise from 280 thousand to 2,420 thousand, and the estimated casualties will rise from 299 to 1,045. The expected annual casualties (EAC) are around 2.28. Hotspots of casualties are generally consistent with those of EAD.

In contrast to previous studies that focus on a single flood scenario or a particular type of flood exposure/risk in Shanghai, the findings contribute to an understanding of overall flood risks and their spatial patterns, which have significant implications for cost-benefit analysis of flood resilience strategies.

The purpose of this paper is to apply the concept of equivalent initial flaw size (EIFS) to the anisotropic nickel-based single crystal (SX) material, and to predict the fatigue life on this basis. The crack propagation law of SX material at different temperatures and the weak correlation of EIFS values verification under different loading conditions are also investigated.

A three-parameter time to crack initial (TTCI) method with multiple reference crack lengths under different loading conditions is established, which include the TTCI backstepping method and EIFS fitting method. Subsequently, the optimized EIFS distribution is obtained based on the random crack propagation rate and maximum likelihood estimation of median fatigue life. Then, an effective driving force based on anisotropic and mixed crack propagation mode is proposed to describe the crack propagation rate in the small crack stage. Finally, the fatigue life of three different temperature ESE(T) standard specimens is predicted based on the EIFS values under different survival rates.

The optimized EIFS distribution based on EIFS fitting - maximum likelihood estimation (MLE) method has the highest accuracy in predicting the total fatigue life, with the range of EIFS values being about [0.0028, 0.0875] (mm), and the mean value of EIFS being 0.0506 mm. The error between the predicted fatigue life based on the crack propagation rate and EIFS distribution for survival rates ranges from 5% to 95% and the experimental life is within two times dispersion band.

This paper systematically proposes a new anisotropic material EIFS prediction method, establishing a framework for predicting the fatigue life of SX material at different temperatures using fracture mechanics to avoid inaccurate anisotropic constitutive models and fatigue damage accumulation theory.

This study aims to provide a comprehensive framework for the study of indoor air quality (IAQ) in hospitality premises. The goal is to identify the drivers of air pollution, both at the exogenous and endogenous level, to generate insights for facility managers.

The complexity of hospitality premises requires an integrated approach to properly investigate IAQ. The authors develop an overarching framework encompassing a monitoring method, based on real-time sensors, a technological standard and a set of statistical analyses for the assessment of both IAQ performance and drivers, based on correlation analyses, analysis of variance and multivariate regressions.

The findings suggest that the main drivers of IAQ differ depending on the area monitored: areas in contact with the outdoors or with high ventilation rates, such as halls, are affected by outdoor air quality more than guestrooms or fitness areas, where human activities are the main sources of contamination.

The results suggest that the integration of IAQ indicators into control dashboards would support management decisions, both in defining protocols to support resilience of the sector in a postpandemic world and in directing investments on the premises. This would also address guests’ pressing demands for a broader approach to cleanliness and safety and support their satisfaction and intention to return.

To the best of the authors’ knowledge, this is the first study developing a comprehensive framework to systematically address IAQ and its drivers, based on a standard and real-time monitoring. The framework has been applied across the longest period of monitoring for a hospitality premise thus far and over an entire hotel facility.

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.

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.

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.

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.

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.

Intellectual capital (IC) and venture capital (VC) play an important role in enterprise development. While the literature has investigated the relationship between IC and the profitability of companies, the relationship among IC, VC and enterprise value (EV) is still not well understood.

Drawing insights from the literature, we develop a few testable hypotheses about the relationships among IC, VC and EV. Using the panel data of companies listed in the Chinese stock market from 2009 to 2019, we employ fixed-effects regression models to test these hypotheses.

We find that IC has a significant positive effect on long-term EV. VC is found to have a positive direct effect on long-term EV but has a negative direct effect when its moderating effect with IC is considered. To explain this finding, we develop a simple economic model and provide an over-investment perspective.

We believe this paper can shed light on pro-venture investment policies in China, as well as provide indications for similar policies around the world.

Managing biosphere reserves (BR) have become more challenging regarding the socio-cultural conflict between communities and BR administrators. For the past two decades, community participation (CP) has become the central narrative for BR management practices in Asia. This paper aims to set out to analyse the current literature because of the paucity of systematic reviews on CP in Asian BR. Also, it proffers possible solutions to enhance biosphere performance.

In total, 31 related studies were identified from the Scopus, Web of Science databases and materials from organisations in the field of practice of territorial conservation. Three themes emerged from the review – willingness to participate, encumbrances and possible solutions.

Factors that influence community willingness to participate in a BR, encumbrances facing the community and possible policy solutions to enhance CP in a BR in Asia were the three themes that emerged from the review. The factors that influence community willingness were categorised into the level of participants in education, perceived waste of time, no confidence of the outcome, okay with current management, land owned, household size and gender factors.

This paper’s recommendations were based on empirical literature reviewed systematically but do not compromise the robustness concerning BR management practices in Asia. It was established that to enrich the findings of this research, regional studies of CP in BR should be conducted, including primary source data using the mixed methods paradigm.

As part of the practical implications, recommendations were highlighted to enhance CP in BR. Also, the paper suggested that BR administrators should have two-way communication mechanisms, cross-sectoral participation and collaboration, implement locally-based solutions through full engagement of community members in decision-making.

This is probably the first systematic review paper on BR management practices in Asia. Filling the theoretical gap via systematic review was part of the significant contribution to CP in Asian BR.

Independent directors are important corporate decision participants and makers. Based on the Chinese cultural background, this paper interprets the listing order of independent directors as independent directors’ status, exploring their influence on the corporate research and development (R&D) behavior.

This paper studies A-share listed firms in China from 2008 to 2018 as the sample. The main method is ordinary least square (OLS) regression. We also use other methods to deal with endogenous problems, such as the firm fixed effect method, change model method, two-stage instrumental variable method, and Heckman two-stage method.

(1) Higher independent directors’ status attribute to more effective exertion of supervision and consultation function, and positively enhance the corporate R&D investment. The increase of the independent director’ status by one standard deviation will increase the R&D investment by 4.6%. (2) The above effect is more influential in firms with stronger traditional culture atmosphere, higher information opacity and higher performance volatility. (3) High-status independent directors promote R&D investment by improving the scientificity of R&D evaluation and reducing information asymmetry. (4) The enhancing effect of independent director’ status on R&D investment is positively associated with the firm’s patent output and market value.

This paper contributes to understanding the relationship between the independent directors’ status and their duty execution from an embedded cultural background perspective. The findings of the study enlighten the improvement of corporate governance efficiency and the healthy development of the capital market.

A maturity model for Industry 4.0 (I4.0 MM) with influencing factors is designed to address maturity issues in adopting Industry 4.0. Standardisation in I4.0 supports manufacturing industry transformation, forming reference architecture models (RAMs). This paper aligns key factors and maturity levels in I4.0 MMs with reputable I4.0 RAMs to enhance strategy for I4.0 transformation and implementation.

Three steps of alignment consist of the systematic literature review (SLR) method to study the current published high-quality I4.0 MMs, the taxonomy development of I4.0 influencing factors by adapting and implementing the categorisation of system theories and aligning I4.0 MMs with RAMs.

The study discovered that different I4.0 MMs lead to varied organisational interpretations. Challenges and insights arise when aligning I4.0 MMs with RAMs. Aligning MM levels with RAM stages is a crucial milestone in the journey toward I4.0 transformation. Evidence indicates that I4.0 MMs and RAMs often overlook the cultural domain.

Findings contribute to the literature on aligning capabilities with implementation strategies while employing I4.0 MMs and RAMs. We use five RAMs (RAMI4.0, NIST-SME, IMSA, IVRA and IIRA), and as a common limitation in SLR, there could be a subjective bias in reading and selecting literature.

To fully leverage the capabilities of RAMs as part of the I4.0 implementation strategy, companies should initiate the process by undertaking a thorough needs assessment using I4.0 MMs.

The novelty of this paper lies in being the first to examine the alignment of I4.0 MMs with established RAMs. It offers valuable insights for improving I4.0 implementation strategies, especially for companies using both MMs and RAMs in their transformation efforts.

Online influencers are increasingly used by brands around the globe to establish brand communication. This study aims to investigate the characteristics of social media content in terms of presentation style and brand communication among online influencers in China. The authors identified how characteristics of social media posts influence young consumers’ engagement with the posts.

The authors analyzed 1,779 posts from the Sina Weibo accounts of ten top-ranked online influencers by combining traditional content analysis with Web data crawling of audience engagement with social media posts.

Online influencers in China more frequently used photos than videos to communicate with their social media audience. Altogether 8% and 6% of posts carried information about promotion and event, respectively. Posts with promotional incentives as well as event information were more likely to engage audiences. Altogether 22% of the sampled social media posts mentioned brands. Posts with brand information, however, were less likely to engage audiences. Furthermore, having long text is more effective than photos/images in generating likes from social media audiences.

Combining content analysis of social media posts and engagement analytics obtained via Web data crawling, this study is, to the best of the authors’ knowledge, one of the first empirical studies to analyze influencer marketing and young consumers’ reactions to social media in China.