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This paper examines the effect of board reforms on managerial risk-taking incentive provision in state-owned enterprises (SOEs) whose managers are undue risk-averse.

We use the staggered implementation of board reforms in Chinese central government-controlled state-owned enterprises (CSOEs) as an exogenous shock to board governance. We collect data on board reforms for a set of pilot CSOEs during the period 2005 to 2020 from the State-owned Assets Supervision and Administration Commission (SASAC) website by hand. We use a generalized difference-in-difference (DID) design to test the effect of staggered board reform adoption on managerial risk-taking incentive provision.

We find a positive relationship between board reforms and risk-taking inventive provision, i.e. pay-performance sensitivity, promotion-performance sensitivity and performance target difficulty. The documented relationship is stronger when the value of risk-taking is higher. We also find that board reforms lead to greater risky but value-enhancing investments and that managerial risk-taking incentive provision acts as an important channel through which board reforms improve value-enhancing risk-taking.

Our findings suggest that board reforms that improve board governance are effective in addressing risk-related agency conflicts in emerging markets. The findings also highlight the importance of managerial risk-taking incentive provision in inducing risky but value-enhancing investments.

In this paper, the authors take the central environmental protection inspection (CEPI) as an exogenous shock to study the reaction of the stock market in China. Using the event study method, the authors check how the first round of the first batch of CEPI supervision affects the cumulative abnormal return (CAR) of the listed firms on the Shenzhen or Shanghai stock exchange. This paper aims to discuss the aforementioned objective.

In this paper, the authors take the first round of the first batch of CEPI supervision as a clean exogenous shock to study its effects on the capital market. The authors collect daily trading data from the China stock market and accounting research (CSMAR) database, with the sample containing 1,950 Chinese firms listed on either the Shenzhen or Shanghai stock exchanges. And detailed information on CEPI supervision is obtained from the official website of the Ministry of Ecology and Environment of the People's Republic of China. The event study method is adopted to analyze the reaction of the stock market under CEPI supervision. Specifically, the authors constructed the cumulative abnormal return of each firm around the event day of CEPI. To capture the deterrent effects of CEPI supervision, the authors examine the situation of polluting and non-polluting firms in the supervised provinces, adjacent provinces and provinces that are not supervised or close to the supervised provinces, respectively.

This paper throws light on the following: (1) the polluting firms in the supervised provinces were negatively impacted by CEPI within 20 trading days of the event day, and its effects spread to the polluting firms in the neighboring provinces; (2) CEPI had a favorable impact on the non-polluting businesses in the provinces that are neither supervised nor close to the supervised provinces. The authors contend that it is because the investment is being forced out of the polluting sector and into the non-polluting sector, which is more pronounced in the provinces not directly or indirectly targeted by CEPI; (3) by comparison, the “looking back monitoring of the first round” has had no discernible detrimental impact on the firms' CAR, indicating an important role of psychology anticipation of investors in the stock market performance; (4) although not physically located in the supervised provinces, the downstream enterprises of the polluting firms suffer significantly from CEPI shock; (5) the effectiveness of CEPI supervision in the supervised provinces depends on the level of local environmental regulation and the ownership structure of the company. Private firms in the provinces with stronger environmental regulations suffer more from the CEPI shock; (6) the multivariate analysis shows that while enterprises with high ROE and financial leverage may be at risk of CAR loss, older, larger firms are less likely to experience CEPI shock; (7) the study of persistent effect reveals that the strike of CEPI supervision can last for at least 10 months after the event day and deterrent effect can be spread within the whole polluting industry.

In this paper, the authors only concentrate on the market reaction within 20 trading days after the event day. An analysis of long-term effects should be valuable to get a deeper knowledge of the capital market reaction to the CEPI policy. In addition, the paper only focuses on the first round of the first batch of CEPI. Since CEPI has been built as a constant regulation of local environmental performance, further study may need to track both the reaction of listed firms and investment behavior in the capital market.

Policy implications of the paper are as follows: First, for the policymakers, it is important to construct a constant environmental regulation system instead of a campaign movement. Second, for investors, as environmental issues are receiving increasing attention from both the government and the public, investment decisions should take into account firms' environmental performance, which can help reduce the risk from environmental regulations. Third, the firms in the polluting industry should take more action to reduce pollutant releases and adopt green technology, which is essential for sustainable development under environmental protection.

This paper contributes to the existing literature in the following aspects. First, the authors provide new evidence on the effects of environmental regulations as a shock to the stock market, which has been wildly concentrated in the literature about environmental policies evaluation and capital market reaction. Second, the authors supplement the literature on green finance and sustainability transformation, which has got increasing attention in recent years. Theoretically, by guiding investment and affecting the stock market performance, environmental regulations are considered to be an efficient way to stimulate polluting firms to transform into green development. The results of the paper support this intuition by showing that the CAR of the non-polluting firms in non-supervised provinces in fact benefit from the CEPI supervision.

This paper aims to present a longitudinal and visualising study using bibliometric approaches to depict the emerging trends and research hotspots within the mobile information system domain.

Publications included in the Web of Science (WoS) database for 2001–2021 are reviewed and analysed on various aspects through coauthorship, cocitation and co-occurrence analysis. The analyses are conducted using VOSViewer, a scientific visualisation software program.

Academic publications related to mobile information systems fluctuated at a low level during the initial part of the 21st century and have grown rapidly in number in the past decade. The USA and China are the leading contributors to these publications and hold dominant positions in the obtained collaboration network. Computer science, engineering and telecommunications are the top three research areas in which mainstream mobile information system research occurs. Moreover, medical informatics and health-care science services have gradually become new research hotspots.

This study provides a systematic and holistic account of the developmental landscape of the mobile information system domain. This study provides a good basis for analysing the evolution of research in mobile information systems and may serve as a potential foundation for future research.

As to different angles of attack and nonlinear problems caused by high temperatures in coexisting hypersonic aircraft, people mainly rely on fluid software for research but lack analysis of flow mechanisms. Owing to computational difficulties, few people use numerical algorithms to combine them for discussion. Hence, this study aims to make a deep inquiry into the laminar flow and heat transfer of compressible Newtonian fluid in hypersonic aircraft with small attack angles.

In this paper, on the basis of mass, momentum and energy conservation laws, the governing equations of the hypersonic boundary layer are established. Viscosity, specific heat capacity and thermal conductivity are considered nonlinear functions concerning temperature. In virtue of the MacCormack finite difference method, the stationary numerical solutions are solved directly, and the validity of the algorithm is verified.

The results demonstrate that at Mach number 5, compared to the 0° attack angle, the maximum temperature near-wall at the 3° attack angle increases by about 25%. An enjoyable phenomenon is discovered, where the position corresponding to the maximum wall shear force shifts back as the attack angle and Mach number increase. The relationship between the near-wall maximum temperature versus attack angle and Mach number is fitted through numerical calculation results.

Empirical formulas can be used to estimate heat transfer characteristics at small attack angles, which will guide the design of aircraft thermal protection systems.

We examined the dynamic volatility connectedness and diversification strategies among US real estate investment trusts (REITs) and green finance indices.

The DCC-GARCH dynamic connectedness framework and he DCC-GARCH t-copula model were employed in this study.

Using daily data from 2,206 observations spanning from 2 January 2015 to 31 January 2023 this paper presents the following findings: (1) cross-market spillovers exhibited a high correlation and significant fluctuations, particularly during extreme events; (2) our analysis confirmed that REIT acted as net receivers from other green indices, with the S&P North America Large-MidCap Carbon Efficient Index dominating the in-network volatility spillover; (3) this observation suggests asymmetric spillovers between the two markets and (4) a portfolio analysis was conducted using the DCC-GARCH t-copula framework to estimate hedging ratios and portfolio weights for these indices. When REIT and the Dow Jones US Select ESG REIT Index were simultaneously added to a risk-hedged portfolio, our findings indicated that no risk-hedging effect could be achieved. Moreover, the cost and performance of hedging green assets using REIT were found to be comparable.

We first examined the dynamic volatility connectedness and diversification strategies among US REITs and green finance indices. The outcomes of this study carry practical implications for market participants.

This study explores the effects of competitive intensity and innovation orientation on export outcomes, including export entrepreneurship (EE) and export performance (EP), and determines the direct and moderating impact of corporate social responsibility (CSR) among exporting agricultural and food (agri-food) small and medium-sized enterprises (SMEs) in Iran.

Using systematic random sampling, 296 firms participating in the international food and agricultural industries exhibition filled out a questionnaire. Smart PLS3 software was used to analyze the data.

The competitive intensity has positive effects on export entrepreneurship of Iranian agri-food SMEs. Additionally, innovation orientation, CSR and EE positively impact EP. However, the moderating impact of CSR on the relationship between innovation orientation and EP was not supported by data.

The current study enriches the existing knowledge in international business in the specific setting of exporting agri-food SMEs operating in a developing economy.

The purpose of this paper is to conduct a thorough study of the current research status and trends of Artificial Intelligence-Generated Content (AIGC), which is thriving and exerting significant influences on society, the economy and technology. This study will encompass both the ample opportunities and the array of emerging risks and challenges associated with AIGC. Furthermore, this paper seeks to propose practical optimization strategies to facilitate its continued development.

A total of 12,702 documents in Scopus, CNKI and Altmetric.com databases are analyzed in this paper. The visualization tools of CiteSpace and Netdraw are used to systematically analyze AIGC from macro, meso and micro perspectives based on bibliometric indicators. The analysis is combined with altmetrics indicators to identify hotspots in AIGC-related research and predict future development trends. Finally, substantive optimization suggestions for the development of AIGC are put forward.

Research has found that firstly, both domestic and international research in the field of AIGC is actively catching up with the pace of the era. Institutions and authors recognize the indispensability of collaboration, leading to the emergence of interdisciplinary cooperation trends. Secondly, at the thematic research level, both domestic and international studies cover the overall trends of AIGC, including technology, applications, challenges and coping strategies. However, international scholars tend to focus more on technological breakthroughs, while domestic researchers emphasize the formulation of national laws and regulations. Finally, through the analysis of hotspots and trends, it is predicted that future research will focus more on addressing the legal issues regarding the originality of AIGC, enhancing its interactivity, optimizing its applications, emphasizing ethical considerations and efficiently addressing major social issues such as pandemics using AIGC technology. Corresponding optimization strategies are proposed to ensure the development of AIGC is consistent with global consensus and values, creating a beneficial environment for its sustainable development.

Firstly, this paper integrates data from three databases and uses multiple software tools to conduct a comparative analysis of the research trends in AIGC from both domestic and international perspectives. Secondly, this paper not only analyzes the academic influence of AIGC-related research through bibliometric indicators but also combines altmetrics indicators to explore the public’s attitude toward AIGC. This method systematically reveals the overall development trends, leading institutions and researchers, thematic research areas, hotspot evolution and future development trends of AIGC-related research, providing theoretical references for subsequent scholars in AIGC research. Additionally, this paper helps governments, institutions and organizations to precisely and wisely formulate policies and investments, as well as to effectively comprehend the development trends of AIGC and promote the advancement of AIGC technology and applications.

There is coupling between the branches of mobile parallel robots, similar to traditional parallel mechanisms, but there is currently relatively little research on the coupling problem between the branches of mobile parallel robots.

This study optimizes the coupling analysis method of traditional parallel mechanisms, treats the mobile parallel mechanism as a whole, takes the motion of the active pair as input and the overall motion of the mobile parallel mechanism as output and analyzes the input–output characteristics of the mobile parallel mechanism. Moreover, this study applies this theory to a mobile parallel mechanism, designs control logic and finally conducts simulation and physical verification.

This study proposes a coupling analysis method suitable for parallel mobile robots and designs the control logic of their active pair based on the results of their coupling analysis. This study designs a multimode variable coupling parallel mobile robot, which can change the coupling of the mechanism by changing its own branch chain structure, so that it can switch between different coupling configurations to meet the different needs brought by different terrains.

The work presented in this paper propose a method for analyzing the coupling of mobile parallel robots and simplify their control logic by applying coupling theory to the design of mobile parallel robots. This study conducts simulation and physical experiments, thereby filling the gap in the coupling analysis of parallel mobile robots and laying the foundation for the research of uncoupled parallel mobile robots.

This study aims to make the mobile robot better adapt to the patrol and monitoring in industrial field substation area, a multi-mode mobile carrying mechanism which can carrying data collector, camera and other equipment is designed.

Based on the geometric axis analysis and interference analysis, the multi-mode mobile carrying mechanism is designed. The screw constraint topological theory and zero-moment point (ZMP) theory is used to kinematic analysis in mechanism mobile process.

The mobile carrying mechanism can realize the folding movement, hexagonal rolling and quadrilateral rolling movement. A series of simulation and prototype experiment results verify the feasibility and actual error of the design analysis.

The work of this paper provides a mobile carrying mechanism for carrying different data acquisition equipment and surveillance camera in industrial field substation zone. It has excellent folding performance and mobile capabilities. The mobile carrying mechanism reduces the workload of human being and injuries suffered by workers in industrial substation area.

This study, based on construal level theory, aims to examine the influential mechanism of leader empowerment behaviour on employee creativity. Specifically, it examines the mediating role of cognitive flexibility between leader empowerment behaviour and employee creativity, along with the moderating effect of consideration of future consequences (CFC) on this linkage.

A two time-point survey study (n = 214) was conducted to collect information from leaders and employees in terms of mutual evaluation in several Chinese industries. To effectively avoid common source bias, this survey was conducted through pairing leaders and employees. During the survey, the supervisors and subordinates were double-blinded. Correlation analysis and hierarchical regression analysis were used to test the research hypotheses.

Firstly, leader empowerment behaviour can significantly predict employee creativity. Second, cognitive flexibility plays a partial mediating role in the linkage between leader empowerment behaviour and employee creativity. Thirdly, CFC moderates the relationship between leadership empowerment behaviour and cognitive flexibility. The mediating role of cognitive flexibility underlies the overall moderating effect of CFC on the relationship between leader empowerment behaviour and employee creativity.

We used construal level theory to explain the influence of the mechanism of leader empowerment behaviour on employee creativity. In this manner, this study bridges the gap between theory and practice, as well as enriching the research on leader empowerment behaviour and employee creativity, especially in the Chinese context. Moreover, our study has several practical managerial implications, based on the importance of employee creativity. It inspires the implementation of leader empowerment behaviour, cultivation of employee creativity and introduction of several procedures.

This paper discusses the influential mechanism of leader empowerment behaviour on employee creativity from a new perspective and explains the process of encouraging employee creativity through information-processing methods. It mainly highlights the application of construal level theory to discuss employee creativity and develops a new research frame for employee creativity. Leaders can raise employee creativity through leader empowerment behaviour.