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This study investigates the impact of customer stability on the cost of debt and the moderating effect of environmental uncertainty on the above relationship.

An empirical analysis based on the ordinary least squares (OLS) regression model is conducted using China’s A-share listed companies on the Shanghai and Shenzhen Stock Exchanges from 2007 to 2021.

The results indicate that customer stability significantly inhibits the cost of debt, and the higher the environmental uncertainty, the more significant the inhibitory effect of customer stability on the cost of debt. The results of heterogeneity analyses indicate that the more intense the industry competition, the higher the customer concentration or the older the average customer age, the more significant the inhibiting effect of customer stability on the cost of debt.

This study highlights the importance of customer relationship management and supply chain risk management, which have both theoretical and managerial implications. Despite its contributions, this study has limitations, such as China’s institutional context limits, which the generalisability of our results, and the sample size for this study is small because of limitations in measuring customer stability.

Existing literature has not yet reached a consistent conclusion on how customer relationships affect the cost of debt, and such studies are mainly centered around perspectives such as customer concentration and the contagion effect of supply chains. This study constructs an indicator of customer stability using detailed information on the top five customers of China’s A-share listed companies and dynamically examines the impact of customer stability on the cost of debt, which expands the research on the influencing factors of the cost of debt, the economic consequences of customer stability and the theory of customer relationship management.

This study aims to investigate the effect of top management team (TMT) stability on outward foreign direct investment (OFDI) of Chinese firms and the moderating effects of state ownership and managerial ownership on this relationship.

An empirical analysis based on the ordinary least square regression model is conducted using Chinese A-share listed firms that engaged in OFDI from 2008 to 2021.

TMT stability has a positive effect on firms’ OFDI. Moreover, state ownership significantly strengthens the positive relationship between TMT stability and OFDI, while managerial ownership weakens this positive relationship.

The findings help firms to effectively retain TMT talents and promote the smooth internationalization of firms, thereby enhancing their long-term development capabilities and competitive advantages.

This study expands the investigation of the factors influencing OFDI at the micro level of the TMT, providing valuable decision-making insights for firms.

This study empirically investigates the impact of directors' and officers' liability insurance on corporate environmental investment.

This paper takes A-share listed firms in the most polluting industries from 2013 to 2019 as the research sample. The authors perform multiple regression analysis to examine the research question, and other approaches such as PSM and Heckman two-stage model are applied to test the robustness of the main results.

The authors find that D&O insurance insured firms significantly decrease the level of corporate environmental investment. The results keep consistent after alleviating potential endogenous concerns. Further analysis shows that the negative association between D&O insurance and environmental investment is more pronounced in firms facing greater environmental pressure and stronger market supervision, and firms located in regions with a rich legal environment.

This research extends the literature on the antecedents of corporate environmental investment and the consequences of D&O insurance.

The study may deepen people's understanding of D&O insurance and inform them of its negative effects. This research sheds light on the potential factor resulting in a relatively low level of corporate environmental investment in China, which has an important policy implication for government to carry out some regulations to make a difference.

Against the backdrop that more importance has been attached to environmental protection globally, this paper is the first study to examine the impact of D&O insurance on corporate environmental investment in the context of the transitional and emerging market-China.

According to the resource-based theory, a firm’s unique resources and capabilities are the key to its competitive advantage. This paper aims to investigate the effect of top management team (TMT) stability, an important intangible resource of the firm, on the maturity mismatch between investment and financing of companies. Additionally, we explore the moderating effects of state ownership and institutional ownership in this context.

This study conducts an empirical analysis based on the ordinary least squares (OLS) model with a sample of Chinese companies listed on the Shanghai and Shenzhen stock exchanges from 2010 to 2022.

The results show that TMT stability significantly mitigates the degree of maturity mismatch. Both state ownership and institutional ownership weaken the negative effect of TMT stability on maturity mismatch. Besides, alleviating financing constraints is a crucial pathway through which TMT stability influences maturity mismatch.

The findings help firms to effectively retain TMT talents and reduce the occurrence of maturity mismatch.

This paper not only helps to expand the research on the economic effects of TMT stability but also provides new ideas on how to alleviate the maturity mismatch of companies.

The purpose of this paper is to examine the impact of corporate environmental responsibility (CER) on corporate cash holdings. This paper also investigates the moderating effects of ownership type and institutional environment between CER and corporate cash holdings.

This study uses the data of the most polluting listed companies on the Shanghai and Shenzhen stock exchange markets over the period 2010–2019. CER data from Hexun.com (a professional CSR evaluation system) are used to measure CER performance. Two proxies are used to measure the level of cash holdings simultaneously, where CASH1 is calculated as the ratio of cash and cash equivalents to total assets, and CASH2 is calculated as the ratio of cash and cash equivalents to net assets (total assets minus cash and cash equivalents). Finally, multiple regression analysis is applied to test the research hypotheses.

The results show that environmentally responsible companies hold substantially less cash, and the result is statistically significant and robust even after using firm fixed effects and applying alternative measures of cash holdings or alleviating potential endogeneity. In addition, the results of cross-sectional tests show that the negative relation between CER and corporate cash holdings is concentrated among non-state-owned enterprises, and firms in provinces with more developed institutions. Furthermore, the result of the analysis of the economic consequence shows CER significantly increases the value of cash holdings.

This study focuses on China's institutional context, which limits the generalizability of the findings to other countries. However, the objective of this research can be studied in other institutional settings, so the above limitations provide a springboard for further research. Furthermore, the environmental protection investment, green technology innovation, and even pollutant discharge of companies can also be important indicators to measure the performance of firms in fulfilling their environmental responsibilities, which can be considered in future research.

The findings of this study may help company management in China to establish a correct view of environmental responsibility to achieve corporate value creation and corporate sustainability. And our research can also provide the policy reference value for the Chinese government to further improve environmental protection policies and systems, guide enterprises to conduct green production to realize the country's vision of an environmentally friendly society.

Based on the current background that countries in the world advocate the development of a green economy, this is the first study to examine the impacts of the environmental responsibility of the most polluting companies on corporate cash holdings and the value of cash holdings in the context of China, an emerging market.

The purpose of this paper is to reveal the solute segregation behavior in the molten and solidified regions during direct chill (DC) casting of a large-size magnesium alloy slab under no magnetic field (NMF), harmonic magnetic field (HMF), pulsed magnetic field (PMF) and two types of out-of-phase pulsed magnetic field (OPMF).

A 3-D multiphysical coupling mathematical model is used to evaluate the corresponding physical fields. The coupling issue is addressed using the method of separating step and result inheritance.

The results suggest that the solute deficiency tends to occur in the central part, while the solute-enriched area appears near the fillet in the molten and solidified regions. Applying magnetic field could greatly homogenize the solute field in the two-phase region. The variance of relative segregation level in the solidified cross-section under NMF is 38.1%, while it is 21.9%, 18.6%, 16.4% and 12.4% under OPMF2 (the current phase in the upper coil is ahead of the lower coil), HMF, PMF and OPMF1 (the current phase in the upper coil lags behind the lower coil), respectively, indicating that OPMF1 is more effective to reduce the macrosegregation level.

There are few reports on the solute segregation degree in rectangle slab under magnetic field, especially for magnesium alloy slab. This paper can act a reference to make clear the solute transport behavior and help reduce the macrosegregation level during DC casting.

Tax professionals in public accounting firms must meet professional standards in working with their clients, but may also face pressure from both their clients and firms when making ethical decisions. The purpose of this study is to examine the influence of client factors on tax professionals’ ethical decision-making. Furthermore, we also investigate how client service climate and different ethical climate types affect these ethical decisions. Based on an experimental design with 149 practicing tax professionals, results indicate that tax professionals are not swayed by client importance or social interaction with the client when making ethical decisions. However, tax professionals are more likely to engage in ethical behavior when their own accounting firm monitors and tracks the quality of client service, whereas unethical behavior is more common when public accounting firms emphasize using personal ethical beliefs in decision-making. The results of the study suggest the importance of strong policies and procedures to promote ethical decision-making in firms.

This study aims to investigate how employee environmental performance (EP) is affected by socially responsible human resource management (SRHRM) via green knowledge sharing (GKS) and environmental commitment (EC).

Partial least squares-structural equation modeling was used to analyze data from 494 frontline employees of hotels.

The findings reveal that SRHRM influences employee EP, GKS and EC. SRHRM indirectly predicts individual EP through GKS and EC mediation. GKS and EC also have significant relationships with employee EP.

Hotels can use the findings of this study to develop effective strategies to promote employees’ positive responses to the environment and improve their organizational identification. Moreover, the current research enables the organization to recognize the importance of employees’ GKS and EC and capitalize on them.

This study links SRHRM to the individual EP level in the hotel industry. This study reveals the importance of EC and GKS as psychological mechanisms linking SRHRM and EP.

This study aims to examine the influence of related party transactions (RPTs), political connection (POLCON), board of directors (BOD), institutional ownership (IO), information asymmetry, audit quality (AQ), and leverage (LEV) on real earnings management (REM). The company used in this research is manufacturing companies listed on the Indonesian Stock Exchange from 2017 to 2019. The number of research samples is 192 firm years data. This study shows that RPTs, POLCON, IA, and LEV affect REM. In contrast, the BOD, IO, and AQ do not affect REM.

This paper aims to unfold the mediation mechanism of job crafting, through which socially responsible human resource practices (SRHR practices) influence work meaningfulness and job strain among hospitality employees. It also seeks to unravel the moderating effect of authentic leadership on this indirect relationship.

Three survey waves were conducted to collect data from 825 employees and 128 managers from 34 four- or five-star hotels in two major cities in Vietnam. The data were analyzed through structural equation modeling to test the hypothesized relationships.

The results lent credence to the positive relationship between SRHR practices and employees’ meaningfulness of work as well as the negative nexus between SRHR practices and employees’ job strain. These relationships were mediated by employee engagement in job crafting. The results further revealed that authentic leadership functioned as a negative moderator for the impact of SRHR practices on job crafting as well as the indirect effects of SRHR practices on the two employee outcomes via job crafting.

The findings suggest to hospitality organizations that employees may find their work more meaningful and less stressful if they implement SRHR practices to enable them to craft their tasks. Hospitality organizations should also realize the role of authentic behavior among managers in stimulating employee job crafting behavior particularly when SRHR practices are not fully in place.

This study advances the understanding of the mechanisms that translate SRHR practices into hospitality employee outcomes. This work also extends the contingency perspective in the HRM literature by unraveling authentic leadership as a contingency for the impacts of SRHR practices.