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Available. Open Access. Open Access
Article
Publication date: 4 January 2024

Chang Liu, Shiwu Yang, Yixuan Yang, Hefei Cao and Shanghe Liu

In the continuous development of high-speed railways, ensuring the safety of the operation control system is crucial. Electromagnetic interference (EMI) faults in signaling…

455

Abstract

Purpose

In the continuous development of high-speed railways, ensuring the safety of the operation control system is crucial. Electromagnetic interference (EMI) faults in signaling equipment may cause transportation interruptions, delays and even threaten the safety of train operations. Exploring the impact of disturbances on signaling equipment and establishing evaluation methods for the correlation between EMI and safety is urgently needed.

Design/methodology/approach

This paper elaborates on the necessity and significance of studying the impact of EMI as an unavoidable and widespread risk factor in the external environment of high-speed railway operations and continuous development. The current status of research methods and achievements from the perspectives of standard systems, reliability analysis and safety assessment are examined layer by layer. Additionally, it provides prospects for innovative ideas for exploring the quantitative correlation between EMI and signaling safety.

Findings

Despite certain innovative achievements in both domestic and international standard systems and related research for ensuring and evaluating railway signaling safety, there’s a lack of quantitative and strategic research on the degradation of safety performance in signaling equipment due to EMI. A quantitative correlation between EMI and safety has yet to be established. On this basis, this paper proposes considerations for research methods pertaining to the correlation between EMI and safety.

Originality/value

This paper overviews a series of methods and outcomes derived from domestic and international studies regarding railway signaling safety, encompassing standard systems, reliability analysis and safety assessment. Recognizing the necessity for quantitatively describing and predicting the impact of EMI on high-speed railway signaling safety, an innovative approach using risk assessment techniques as a bridge to establish the correlation between EMI and signaling safety is proposed.

Details

Railway Sciences, vol. 3 no. 1
Type: Research Article
ISSN: 2755-0907

Keywords

Available. Open Access. Open Access
Article
Publication date: 29 March 2024

Xingwen Wu, Zhenxian Zhang, Wubin Cai, Ningrui Yang, Xuesong Jin, Ping Wang, Zefeng Wen, Maoru Chi, Shuling Liang and Yunhua Huang

This review aims to give a critical view of the wheel/rail high frequency vibration-induced vibration fatigue in railway bogie.

876

Abstract

Purpose

This review aims to give a critical view of the wheel/rail high frequency vibration-induced vibration fatigue in railway bogie.

Design/methodology/approach

Vibration fatigue of railway bogie arising from the wheel/rail high frequency vibration has become the main concern of railway operators. Previous reviews usually focused on the formation mechanism of wheel/rail high frequency vibration. This paper thus gives a critical review of the vibration fatigue of railway bogie owing to the short-pitch irregularities-induced high frequency vibration, including a brief introduction of short-pitch irregularities, associated high frequency vibration in railway bogie, typical vibration fatigue failure cases of railway bogie and methodologies used for the assessment of vibration fatigue and research gaps.

Findings

The results showed that the resulting excitation frequencies of short-pitch irregularity vary substantially due to different track types and formation mechanisms. The axle box-mounted components are much more vulnerable to vibration fatigue compared with other components. The wheel polygonal wear and rail corrugation-induced high frequency vibration is the main driving force of fatigue failure, and the fatigue crack usually initiates from the defect of the weld seam. Vibration spectrum for attachments of railway bogie defined in the standard underestimates the vibration level arising from the short-pitch irregularities. The current investigations on vibration fatigue mainly focus on the methods to improve the accuracy of fatigue damage assessment, and a systematical design method for vibration fatigue remains a huge gap to improve the survival probability when the rail vehicle is subjected to vibration fatigue.

Originality/value

The research can facilitate the development of a new methodology to improve the fatigue life of railway vehicles when subjected to wheel/rail high frequency vibration.

Details

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

Keywords

Available. Open Access. Open Access
Article
Publication date: 17 May 2024

Yanliang Niu, Jin Liu, Xining Yang and Chuan Wang

The spatiotemporal compression effect of China–Europe Railway Express (CR-Express) can reduce the flow costs of resources between China’s node cities. Additionally, it can break…

442

Abstract

Purpose

The spatiotemporal compression effect of China–Europe Railway Express (CR-Express) can reduce the flow costs of resources between China’s node cities. Additionally, it can break through the limitations of low-added-value marine products, significantly impacting the logistics industry efficiency. However, there are few literature verifying and analyzing its heterogeneity. This study explores the impact of CR-Express on the efficiency of logistics industry in node cities and analyzes the heterogeneity.

Design/methodology/approach

First, this study uses panel data to measure the efficiency of node city logistics industry. Secondly, this study discusses the impact of the opening of CR-Express on the efficiency of logistics industry in node cities based on the multi-period differential model. Finally, according to the node city difference, the sample city experimental group is grouped for heterogeneity analysis.

Findings

The results show that CR-Express can promote the urban logistics industry efficiency, with an average effect of 4.55%. According to the urban characteristics classification, the heterogeneity analysis shows that the efficiency improvement effect of logistics industry in inland cities is more obvious. The improvement effect of node cities and central cities in central and western China is stronger, especially in the sample of megacities and type I big cities. Compared with non-value chain industrial products, the CR-Express has significant promotion effects on the logistics efficiency of the cities where main goods are value chain products.

Originality/value

Under the background of double cycle development, this paper can provide a scientific basis for the investment benefit evaluation of CR-Express construction and the follow-up route planning.

Available. Open Access. Open Access
Article
Publication date: 14 April 2020

Hongxiu Li, Yong Liu, Chee-Wee Tan and Feng Hu

Building on the three-factor theory, this study aims to unravel how the role of hotel attributes such as basic, excitement and performance factors could differ in accordance with…

38527

Abstract

Purpose

Building on the three-factor theory, this study aims to unravel how the role of hotel attributes such as basic, excitement and performance factors could differ in accordance with different hotel star ratings and distinct customer segments.

Design/methodology/approach

This study explores the asymmetric effects of hotel attributes on customer satisfaction by extracting 412,784 consumer-generated reviews from TripAdvisor across different cities in China.

Findings

By taking into account the origins of customers and hotel star ratings, the study uncovers that guests’ expectations of hotel performance differ with respect to their origins (domestic and international guests) and the star ratings of the hotels being reviewed, thereby moderating the asymmetric impact of hotel attributes on customer satisfaction.

Research limitations/implications

The study compares and contrasts the determinants of customer satisfaction for domestic and international guests in the context of Chinese hotels. Care should still be exercised when generalizing the insights gleaned from this study to other contexts.

Practical implications

The findings from this study translate into actionable guidelines for hotel operators to make informed decisions regarding service improvement.

Originality/value

The study extends previous work by offering a deeper understanding of the asymmetric impact of hotel attributes on customer satisfaction. Specifically, this study provides a deep understanding of the different hotel attributes such as basic, performance and excitement factors in explaining customer satisfaction among different hotel customer segments. Findings from this study can not only inform hotel operators on the significance of various hotel attributes in determining customer satisfaction but also guide the formulation of business strategies to retain customers by inducing delight and not frustration.

Details

International Journal of Contemporary Hospitality Management, vol. 32 no. 5
Type: Research Article
ISSN: 0959-6119

Keywords

Available. Open Access. Open Access
Article
Publication date: 1 July 2019

Yingjie Yang, Sifeng Liu and Naiming Xie

The purpose of this paper is to propose a framework for data analytics where everything is grey in nature and the associated uncertainty is considered as an essential part in data…

1404

Abstract

Purpose

The purpose of this paper is to propose a framework for data analytics where everything is grey in nature and the associated uncertainty is considered as an essential part in data collection, profiling, imputation, analysis and decision making.

Design/methodology/approach

A comparative study is conducted between the available uncertainty models and the feasibility of grey systems is highlighted. Furthermore, a general framework for the integration of grey systems and grey sets into data analytics is proposed.

Findings

Grey systems and grey sets are useful not only for small data, but also big data as well. It is complementary to other models and can play a significant role in data analytics.

Research limitations/implications

The proposed framework brings a radical change in data analytics. It may bring a fundamental change in our way to deal with uncertainties.

Practical implications

The proposed model has the potential to avoid the mistake from a misleading data imputation.

Social implications

The proposed model takes the philosophy of grey systems in recognising the limitation of our knowledge which has significant implications in our way to deal with our social life and relations.

Originality/value

This is the first time that the whole data analytics is considered from the point of view of grey systems.

Details

Marine Economics and Management, vol. 2 no. 2
Type: Research Article
ISSN: 2516-158X

Keywords

Available. Open Access. Open Access
Article
Publication date: 21 September 2022

Yonghui Han, Shuting Tan, Chaowei Zhu and Yang Liu

Carbon trading mechanism has been adopted to foster the green transformation of the economy on a global scale, but its effectiveness for the power industry remains controversial…

4042

Abstract

Purpose

Carbon trading mechanism has been adopted to foster the green transformation of the economy on a global scale, but its effectiveness for the power industry remains controversial. Given that energy-related greenhouse gas emissions account for most of all anthropogenic emissions, this paper aims to evaluate the effectiveness of this trading mechanism at the plant level to support relevant decision-making and mechanism design.

Design/methodology/approach

This paper constructs a novel spatiotemporal data set by matching satellite-based high-resolution (1 × 1 km) CO2 and PM2.5 emission data with accurate geolocation of power plants. It then applies a difference-in-differences model to analyse the impact of carbon trading mechanism on emission reduction for the power industry in China from 2007 to 2016.

Findings

Results suggest that the carbon trading mechanism induces 2.7% of CO2 emission reduction and 6.7% of PM2.5 emission reduction in power plants in pilot areas on average. However, the reduction effect is significant only in coal-fired power plants but not in gas-fired power plants. Besides, the reduction effect is significant for power plants operated with different technologies and is more pronounced for those with outdated production technology, indicating the strong potential for green development of backward power plants. The reduction effect is also more intense for power plants without affiliation relationships than those affiliated with particular manufacturers.

Originality/value

This paper identifies the causal relationship between the carbon trading mechanism and emission reduction in the power industry by providing an innovative methodology for identifying plant-level emissions based on high-resolution satellite data, which has been practically absent in previous studies. It serves as a reference for stakeholders involved in detailed policy formulation and execution, including policymakers, power plant managers and green investors.

Details

International Journal of Climate Change Strategies and Management, vol. 15 no. 2
Type: Research Article
ISSN: 1756-8692

Keywords

Available. Open Access. Open Access
Article
Publication date: 18 June 2019

Weihua Liu, Di Wang, Shangsong Long, Xinran Shen and Victor Shi

The purpose of this paper is to provide an overview of the evolution of service supply chain management from a behavioural operations perspective, pointing out future research…

18807

Abstract

Purpose

The purpose of this paper is to provide an overview of the evolution of service supply chain management from a behavioural operations perspective, pointing out future research directions for scholars.

Design/methodology/approach

This study searched five databases for relevant literature published between 2009 and 2018, selecting 64 papers for this review. The selected literature was categorised according to two dimensions: a service supply chain link perspective and a behavioural factor perspective. Comparative analysis was used to identify gaps in the literature, and five future research agendas were proposed.

Findings

In terms of the perspective of service supply chain link, extant literature primarily focuses on service supply and service co-ordination management, and less on service demand and integration management. In terms of the behavioural factor’s perspective, most focus on classic behaviour factors, with less attention paid to emerging behaviour factors. This paper thus proposes five research agendas: demand-oriented management and integrated supply chain-oriented behavioural research; broadening the understanding of the scope of behavioural operations; integrating the latest backgrounds and trends of service industry into the research; greater attention to behavioural operations in service sub-industries; and multimethod combination is encouraged to be used to dig into the interesting research problems.

Originality/value

This study constitutes the first systematic review of service supply chain research from a behavioural perspective. By categorising the literature into two dimensions, the state of existing research is evaluated with an eye towards future research avenues.

Details

Modern Supply Chain Research and Applications, vol. 1 no. 1
Type: Research Article
ISSN: 2631-3871

Keywords

Available. Open Access. Open Access
Article
Publication date: 28 October 2021

Jun Gao, Niall O’Sullivan and Meadhbh Sherman

The Chinese fund market has witnessed significant developments in recent years. However, although there has been a range of studies assessing fund performance in developed…

2843

Abstract

Purpose

The Chinese fund market has witnessed significant developments in recent years. However, although there has been a range of studies assessing fund performance in developed industries, the rapidly developing fund industry in China has received very little attention. This study aims to examine the performance of open-end securities investment funds investing in Chinese domestic equity during the period May 2003 to September 2020. Specifically, applying a non-parametric bootstrap methodology from the literature on fund performance, the authors investigate the role of skill versus luck in this rapidly evolving investment funds industry.

Design/methodology/approach

This study evaluates the performance of Chinese equity securities investment funds from 2003–2020 using a bootstrap methodology to distinguish skill from luck in performance. The authors consider unconditional and conditional performance models.

Findings

The bootstrap methodology incorporates non-normality in the idiosyncratic risk of fund returns, which is a major drawback in “conventional” performance statistics. The evidence does not support the existence of “genuine” skilled fund managers. In addition, it indicates that poor performance is mainly attributable to bad stock picking skills.

Practical implications

The authors find that the top-ranked funds with positive abnormal performance are attributed to “good luck” not “good skill” while the negative abnormal performance of bottom funds is mainly due to “bad skill.” Therefore, sensible advice for most Chinese equity investors would be against trying to “pick winners funds” among Chinese securities investment funds but it would be recommended to avoid holding “losers.” At the present time, investors should consider other types of funds, such as index/tracker funds with lower transactions. In addition, less risk-averse investors may consider Chinese hedge funds [Zhao (2012)] or exchange-traded fund [Han (2012)].

Originality/value

The paper makes several contributions to the literature. First, the authors examine a wide range (over 50) of risk-adjusted performance models, which account for both unconditional and conditional risk factors. The authors also control for the profitability and investment risks in Fama and French (2015). Second, the authors select the “best-fit” model across all risk-adjusted models examined and a single “best-fit” model from each of the three classes. Therefore, the bootstrap analysis, which is mainly based on the selected best-fit models, is more precise and robust. Third, the authors reduce the possibility that findings may be sample-period specific or may be a survivor (upward) biased. Fourth, the authors consider further analysis based on sub-periods and compare fund performance in different market conditions to provide more implications to investors and practitioners. Fifth, the authors carry out extensive robustness checks and show that the findings are robust in relation to different minimum fund histories and serial correlation and heteroscedasticity adjustments. Sixth, the authors use higher frequency weekly data to improve statistical estimation.

Details

Review of Accounting and Finance, vol. 20 no. 5
Type: Research Article
ISSN: 1475-7702

Keywords

Available. Open Access. Open Access
Article
Publication date: 21 November 2018

Shen Kunrong and Jin Gang

The purpose of this paper is to comprehensively examine the influence of formal and informal institutional differences on enterprise investment margin, mode and result.

2253

Abstract

Purpose

The purpose of this paper is to comprehensively examine the influence of formal and informal institutional differences on enterprise investment margin, mode and result.

Design/methodology/approach

This paper is based on 2,440 micro samples of large-scale outbound investment from 609 Chinese enterprises from the years 2005 to 2016.

Findings

The study has found that formal institutional differences have little impact on investment scale, but significantly affect investment diversification. In order to avoid the management risks brought by formal institutional differences, enterprises tend to a full ownership structure. However, the choice between greenfield investment and cross-border mergers and acquisitions is not affected by formal institutional differences. In contrast, the impact of informal institutional differences is more extensive. Both formal and informal institutional differences significantly increase the probability of investment failure. Further research found that the Belt and Road Initiative (BRI) bridges the formal institutional differences.

Originality/value

The study concludes that developing the BRI, especially cultural exchanges with countries alongside the Belt and Road, will help enterprises to “go global” faster and better.

Available. Open Access. Open Access
Article
Publication date: 5 April 2022

Yang Liu and In-Mu Haw

For Chinese companies that cross-list in Chinese A share and Hong Kong (H share) markets, the H share price has been consistently lower than the A share price by an average of 85…

1336

Abstract

Purpose

For Chinese companies that cross-list in Chinese A share and Hong Kong (H share) markets, the H share price has been consistently lower than the A share price by an average of 85% in recent years. This is puzzling because most institutional differences between the two markets have been eliminated since 2007. The purpose of this study is to explain the puzzle of the price difference of A+H companies.

Design/methodology/approach

Using all A and H share Chinese firms in the period 2007–2013 and a simultaneous equations approach, this study identifies three new explanations for the recent price difference.

Findings

First, utilizing a unique earning quality measure that is directly related to non-persistent components of fair value accounting under International Financial Reporting Standards (IFRS), this study finds that the lower the earnings quality, the lower the H share price relative to the A share price, and hence the greater the price difference. Second, the higher the myopic investor ownership in A share firms, the larger the A share price relative to the H share price. Third, the short-selling mechanism introduced to the A share market since 2010 helps reduce the price difference.

Originality/value

First, this study identifies three new explanations for the puzzle of the AH price difference which remains substantial even after the institutional and accounting standards differences between the two markets were eliminated. Second, we examine the impact of the implementation of fair value accounting under IFRS in an emerging market on the pricing difference of cross-listed shares and reveal that it can induce an unintended negative consequence on the pricing difference of cross-listed shares. Third, this study contributes to the literature on short sales by providing its mitigating role in pricing differences across two different markets. Finally, this study makes improvements in research design, which utilizes a unique measure of earnings quality that is directly related to the implementation of IFRS and a simultaneous equations approach that minimizes endogeneity concern.

Details

China Accounting and Finance Review, vol. 24 no. 2
Type: Research Article
ISSN: 1029-807X

Keywords

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