Li YuChun, Zhang Fang, Yang ChangZhu and Bai WeiHua
This paper considers the use and application of the “grey system” modelling methodology for the prediction and characterisation of boiler water R‐values in electric power…
Abstract
This paper considers the use and application of the “grey system” modelling methodology for the prediction and characterisation of boiler water R‐values in electric power generating plants. It has been confirmed that the GM (1,1) model can pinpoint precisely the properties of the water chemistry cycle. It is considered that the grey system methodology can strengthen significantly the effectiveness of system diagnosis, thereby enabling the development and application of automated water chemistry management systems in power plants.
Details
Keywords
Weihua Liu, Zhixuan Chen, Tsan-Ming Choi, Paul Tae-Woo Lee, Hing Kai Chan and Yongzheng Gao
This study aims to explore the impact of carbon neutral announcements on “stock market value” of publicly listed companies in China.
Abstract
Purpose
This study aims to explore the impact of carbon neutral announcements on “stock market value” of publicly listed companies in China.
Design/methodology/approach
The event study approach is adopted. Market, market-adjusted, Carhart four-factor model and a cross-sectional regression model are employed to examine the impacts of carbon neutral announcements on “stock market value” of Chinese companies based on data from 188 carbon neutral announcements.
Findings
Carbon neutral announcements positively impact Chinese shareholder value. Carbon neutral announcements at the strategic level have a more positive and significant impact on Chinese stock market value. Innovative carbon neutral announcements do not significantly cause Chinese stock market reactions. Companies have more positive and significant stock market reactions when the companies make carbon neutral announcements that reflect high supply chain network resilience and heterogeneity and strong supply chain network relationships.
Practical implications
The findings uncover the business value of carbon neutral activities and provide operations managers in developing countries insights into how to improve enterprises' market value by actively implementing carbon neutral activities.
Originality/value
This paper is the first trial to apply an event study to examine the relationship between carbon neutral announcements and Chinese stock market value from the perspective of announcement level and type and supply chain networks. This paper introduces corporate reputation theory and enriches the application of corporate reputation theory in the field of low-carbon environmental protections and supply chains.
Details
Keywords
Weihua Liu, Jingkun Wang, Fu Jia and Tsan-Ming Choi
This study aims to explore the impact of blockchain announcements on enterprises' stock market value.
Abstract
Purpose
This study aims to explore the impact of blockchain announcements on enterprises' stock market value.
Design/methodology/approach
Based on resource-based theory, this study constructs a complete framework of the impact mechanism of blockchain announcements on the stock price of the announcing firm using the data of 143 blockchain announcements. An event study methodology is used in this research, and the market model, market-adjusted model and Carhart four-factor model are used to estimate stock abnormal returns after the blockchain announcement; and the cross-sectional regression model is used to test the influencing factors.
Findings
Blockchain announcements elicit a significantly positive market reaction on the release day. Compared to announcements not pertaining to technical innovation, blockchain technical innovation announcements exhibit a more positive market reaction towards the announcing companies. Strategic-level announcements exhibit a more positive market reaction than operational-level announcements. Enterprise characteristics, such as enterprise-scale and enterprise innovation ability, do not affect stock market reactions to blockchain announcements.
Practical implications
The findings reveal the economic value of conducting blockchain activities in the Chinese stock market. Findings of this study can help managers understand the value of implementing blockchain activities in a different market environment and guide them on how to improve the market value of their enterprises through the active implementation of blockchain activities.
Originality/value
To the best of the authors’ knowledge, this is the first event study to focus solely on the value of pure blockchain announcements in an emerging market. This study considers multiple resource and capability factors that would influence blockchain technology adoption, improve the current understanding of how blockchain announcements affect corporate stock prices and provide directions for future comparative studies of market reactions to blockchain announcements in different stock markets.
Details
Keywords
Xiaoyu Yan, Weihua Liu, Victor Shi and Tingting Liu
The literature review aims to facilitate a broader understanding of on-demand service platform operations management and proposes potential research directions for scholars.
Abstract
Purpose
The literature review aims to facilitate a broader understanding of on-demand service platform operations management and proposes potential research directions for scholars.
Design/methodology/approach
This study searches four databases for relevant literature on on-demand service platform operations management and selects 72 papers for this review. According to the research context, the literature can be divided into research on “a single platform” and research on “multiple platforms”. According to the research methods, the literature can be classified into “Mathematical Models”, “Empirical Studies”, “Multiple Methods” and “Literature Review”. Through comparative analysis, we identify research gaps and propose five future research agendas.
Findings
This paper proposes five research agendas for future research on on-demand service platform operations management. First, research can be done to combine classic research problems in the field of operations management with platform characteristics. Second, both the dynamic and steady-state issues of on-demand service platforms can be further explored. Third, research employing mathematical models and empirical analysis simultaneously can be more fruitful. Fourth, more research efforts on the various interactions among two or more platforms can be pursued. Last but not least, it is worthwhile to examine new models and paths that have emerged during the latest development of the platform economy.
Originality/value
Through categorizing the literature into two research contexts as well as classifying it according to four research methods, this article clearly shows the research progresses made so far in on-demand service platform operations management and provides future research directions.
Details
Keywords
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…
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
Keywords
Weihua Liu, Jiahe Hou, Yujie Wang and Ou Tang
Drawing on the stakeholder theory, this study aims to empirically analyse the impact of platform enterprises’ corporate social responsibility (CSR) announcements on corporate…
Abstract
Purpose
Drawing on the stakeholder theory, this study aims to empirically analyse the impact of platform enterprises’ corporate social responsibility (CSR) announcements on corporate stock market value. This study also estimates the moderating effect of stakeholder orientation and responsibility categories of CSR announcements, the platform enterprise type and the degree of CSR disclosure.
Design/methodology/approach
The event study method is used to analyse the change in stock market value of 191 CSR announcements from 137 Chinese platform enterprises. In addition, a case analysis is presented for two platform enterprises with the best practices to validate and complement study findings.
Findings
CSR announcements improve platform enterprises’ stock market value. Specifically, CSR announcements responding to platform enterprises’ external stakeholders, and CSR announcements with economic responsibility, have obvious positive impacts on stock market value. Furthermore, the maker platform’s CSR announcement has a more positive impact on stock market value than the exchange platform.
Originality/value
To the best of the authors’ knowledge, this study is the first attempt to identify the link between platform enterprises’ CSR announcements and stock market performance by empirical evidence, and it contributes to new knowledge of operating and evaluating platform enterprises’ CSR.
Details
Keywords
Xiaoyu Yan, Xiaohong Chen, Chunfang Lu, Weihua Liu, Xiaoran Shi and Yu Gong
With the popularization of sustainable concepts, how to transform into a sustainable supply chain has received widespread attention in practice. Under this circumstance, this…
Abstract
Purpose
With the popularization of sustainable concepts, how to transform into a sustainable supply chain has received widespread attention in practice. Under this circumstance, this paper aims to propose a theoretical framework of sustainable supply chain transformation (SSCT) from a perspective of resource identification and utilization, investigates resources/capabilities that can be used to promote SSCT and explores how to use resources/capabilities to achieve SSCT effectively.
Design/methodology/approach
An inductive multi-case analysis is applied to this paper. Four state-owned/non-state-owned enterprises from the manufacturing sector are selected as the research objectives, which are all leaders in the industry based on the 2022 China TOP 500 Enterprises Ranking. Meanwhile, to guarantee the diversities of enterprises, the four selected enterprises are respectively positioned in upstream and downstream of the supply chain.
Findings
A theoretical framework of SSCT is proposed with following research findings: (1) Technology resources, facilities and equipment resources, and business process reengineering capability are the key resources/capabilities to promote SSCT. (2) From the supply chain structure perspective, there exists a leader-participant structure in SSCT. The enterprise with dominant resources/capabilities should actively transfer to a SSCT leader. From the supply chain function perspective, specific sustainability assessment indicators and special teams are two necessary settings for SSCT. From the supply chain lifecycle perspective, SSCT should be promoted in a phased manner and dynamically adjusted in each stage. (3) Digital transformation degree and enterprise ownership play a moderating role in the implementation of strategies.
Originality/value
This paper proposes a conceptual framework of SSCT based on the resource orchestration perspective, which provides decision support for enterprises in practice.
Details
Keywords
Weihua Liu, Yongzheng Gao, Chaolun Yuan, Di Wang and Ou Tang
This study explores the impact of carbon neutrality policies on Chinese stock market from a supply chain perspective. Specifically, the carbon policy refers to the Action Plan for…
Abstract
Purpose
This study explores the impact of carbon neutrality policies on Chinese stock market from a supply chain perspective. Specifically, the carbon policy refers to the Action Plan for Carbon Dioxide Peaking Before 2030 (the Plan) in China.
Design/methodology/approach
This paper is based on the resource dependence theory (RDT) and applies the event study methodology to explore the impact. It uses the cross-sectional regression model to reveal the moderating effect of supply chain characteristics on the stock market reaction with a data set of 354 listed companies in A-shares (excluding ChiNext and SME board).
Findings
The promulgation of the Plan shows a significant negative stock market reaction. Customer concentration, out-degree centrality and smart supply chains (SSCs) have a significant negative moderating effect. In-degree centrality and supplier concentration have a significant positive moderating effect. Furthermore, the conclusions concerning out-degree centrality, supplier concentration and SSCs are counterintuitive.
Practical implications
For policymakers, the study results provide a reference for evaluating the carbon neutrality policy. For managers, this study provides theoretical support for strategically adjusting and designing supply chain structures in the context of advocating peak carbon dioxide emissions and carbon neutrality.
Originality/value
This paper is the first attempt that includes the supply chain structure factors into the impact of carbon neutrality policies on the stock market.
Details
Keywords
Bo Zhang, Yuqian Zheng, Zhiyuan Cui, Dongdong Song, Faqian Liu and Weihua Li
The impact of rolling on the performance of micro arc oxidation (MAO) coatings on ZM5 alloy has been underreported. The purpose of this study is to explore the correlation between…
Abstract
Purpose
The impact of rolling on the performance of micro arc oxidation (MAO) coatings on ZM5 alloy has been underreported. The purpose of this study is to explore the correlation between rolling and the failure mechanism of MAO coatings in greater depth.
Design/methodology/approach
The influence of rolling on the corrosion and wear properties of MAO coating was investigated by phase structure, bond strength test (initial bond strength and wet adhesion), electrochemical impedance spectroscopy and wear test. The change of the surface electrochemical properties was studied by first principles analysis.
Findings
The results showed that the MAO coating on rolled alloy had better corrosion and wear resistance compared to cast alloy, although the structure and component content of two kinds of MAO coating are nearly identical. The difference in interface bonding between MAO coating and Mg substrate is the primary factor contributing to the disparity in performance between the two types of samples. Finally, the impact of the rolling process on MAO coating properties is explained through first-principle calculation.
Originality/value
A comprehensive explanation of the impact of the rolling process on MAO coating properties will provide substantial support for enhancing the application of Mg alloy anticorrosion.
Graphical abstract
Details
Keywords
Weihua Liu, Yanjie Liang, Xiaoran Shi, Peiyuan Gao and Li Zhou
The review aims to facilitate a broader understanding of platform opening and cooperation and points out potential research directions for scholars.
Abstract
Purpose
The review aims to facilitate a broader understanding of platform opening and cooperation and points out potential research directions for scholars.
Design/methodology/approach
This study searches Web of Science (WOS) database for relevant literature published between 2010 and 2021 and selects 86 papers for this review. The selected literature is categorized according to three dimensions: the strategic choice of platform opening and cooperation (before opening), the construction of an open platform (during opening) and the impact of platform opening and cooperation (after opening). Through comparative analysis, the authors identify research gaps and propose four future research agendas.
Findings
The study finds that the current studies are fragmented, and a research system with a theoretical foundation has not yet formed. In addition, with the development of platform operations, new topics such as platform ecosystems and open platform governance have emerged. In short, there is an urgent need for scholars to conduct exploratory research. To this end, the study proposes four future research agendas: strengthen basic research on platform opening and cooperation, deeply explore the dynamic evolution and cutting-edge models of platform opening and cooperation, analyze potential crises and impacts of platform openness and strengthen research on open platform governance.
Originality/value
This is the first systematic review on platform opening and cooperation. Through categorizing literature into three dimensions, this article clearly shows the research status and provides future research avenues.