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This paper aims to examine the relation between managerial ability and stock price crash risk, conditional on managerial overconfidence. In addition, conditional on managerial overconfidence, the authors investigate the effect of managerial ability on firms’ choice of bad news hoarding channels, which result in a stock price crash.

Using a sample of 24,289 firm-years from companies listed on Compustat and CRSP from 1994 to 2018, the authors conduct panel regression analysis.

The authors find that managerial ability is positively associated with stock price crash risk only when managerial overconfidence is high. Furthermore, the authors find that managerial ability seems to exacerbate (attenuate) the bad news withholding by the overconfident managers using the earnings guidance (earnings management) channel. The authors find limited evidence that high-ability managers are likely to withhold bad news through the overinvestment channel and “other channels” when managers are overconfident. Finally, the authors find that the joint effect of managerial overconfidence and managerial ability on firms’ crash risk is more pronounced when there is a material weakness in firms’ internal controls, high investor belief heterogeneity and high information asymmetry. However, this effect appears to dissipate during the recent financial crisis in 2008.

This research reveals that managerial ability is costly to firms by engendering bad news hoardings and stock price crash risk when managers are overconfident. It also sheds light on how managerial overconfidence and managerial ability affect managers’ choice of bad news withholding channels and stock price crash risk. Finally, the paper is of practical value to the board of directors in selecting the prospective executives.

This paper aims to investigate whether the two dominant financial reporting regimes, US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS), are associated with audit pricing and audit report lags.

In 2007, the US SEC eliminated the requirement for foreign registrants to reconcile their financial statements to US GAAP from IFRS. In this post-reconciliation setting in the USA, the authors use panel ordinary least square regressions to examine a sample of foreign firms cross-listed in the USA reporting under IFRS and US domestic firms reporting under US GAAP during the fiscal year 2007–2019.

The authors find that the firms reporting under IFRS have longer audit report lags than firms reporting under US GAAP. In addition, the authors find that firms reporting under IFRS pay higher audit fees than their US GAAP counterparts. The results are robust after controlling for the firm- and country-specific characteristics as well as using propensity-score matching.

To the best of the authors’ knowledge, this study is the first to provide empirical evidence that the differences between the two reporting regimes are associated with auditor behavior, possibly through additional audit efforts and audit complexity associated with auditing the principle-based IFRS relative to the rule-based US GAAP.

This paper aims to examine the double-edged sword effects of work-related rumination on employees’ innovative performance. Drawing upon Conservation of Resources (COR) theory, this study developed a model to reveal the mechanism through which work-related rumination affects employees’ innovative performance.

Data were collected from a sample of employees and their managers at an information technology services firm in China. A two-wave data collection method with a one-month interval was employed. The analysis was conducted using structural equation modeling on 482 paired manager-subordinate responses.

Our findings highlight the complex interplay between work-related rumination and innovative performance. Specifically, affective rumination was found to detract from employees’ innovative performance, whereas problem-solving pondering had a positive effect. Notably, creative self-efficacy emerged as a key mediator in these relationships. Furthermore, employees’ perceived organizational support moderated the impact of rumination on creative self-efficacy and, consequently, on innovative performance, buffering the negative effects of affective rumination and enhancing the positive effects of problem-solving pondering.

Firstly, it enriches the existing literature on work-related rumination by exploring its nuanced influence on employees’ innovative performance. Secondly, it illuminates the underlying mechanism through which work-related rumination affects innovative performance, mediated by creative self-efficacy. Lastly, it highlights the crucial role of perceived organizational support in moderating these relationships, offering valuable insights for practitioners seeking to foster a more innovative work environment.

This study aims to evaluate the characteristics of climate change in Yunnan minority areas and identify an effective path to promote sustainable livelihoods based on climate change.

Taking Yunnan Province as an example, based on the expansion of the traditional sustainable livelihood framework, the authors constructed a system dynamics (SD) model of sustainable livelihood from the six subsystems of natural, physical, financial, social, human and cultural and tested the accuracy and effectiveness of the model with data from Cangyuan County. By adjusting these parameters, five development paths are designed to simulate the future situation of the livelihood system and determine the optimal path.

Climate change has exacerbated the vulnerability of people’s livelihoods. In future, each of the five development paths will be advantageous for promoting sustainable livelihoods. However, compared with Path I (maintaining the status quo), Path III (path of giving priority to culture) and Path IV (path of giving priority to economic development) have more obvious advantages. Path II (path of giving priority to people’s lives) gradually increases the development rate by promoting people’s endogenous motivation, and Path V (path of coordinated development) is better than the other paths because of its more balanced consideration.

The analytical framework of sustainable livelihoods based on the characteristics of minority areas is broadened. By constructing a SD model of the livelihood system, the limitations of traditional static analysis have been overcome and a development path for promoting sustainable livelihoods through simulation is proposed. This study offers a theoretical framework and reference method for livelihood research against the backdrop of climate change and a decision-making basis for enhancing climate adaptability and realizing sustainable livelihoods.

Does the choice of listing process matter in determining a firm's future crash risk? It is understood that the main function of an equity market is to provide price discovery, however, it is not clear whether the choice of listing methods would matter to the shareholders' wealth in the long term. We are the first to answer this question by utilising a hand-collected dataset that identifies all companies that went public via reverse merger (RM) in a growing emerging market.

Using hand-collected data from 2000 to 2018 in China, we follow the literature to construct two crash risk measures for RM and IPO firms. Our main analysis is performed using OLS regressions on the full sample as well as a sample using Propensity Score Matching. Our results hold with a number of robustness checks.

We find that reverse merger (RM) firms exhibit higher future stock price crash risk than initial public offering (IPO) firms. This relationship is more predominant in non-state-owned enterprises, and we find weak evidence suggesting such relationship weakens as firms stay longer in the market. There is no significant difference in future stock price crash risk between RM firms listed during IPO suspension periods and normal IPO firms.

We are the first to study the choice of listing method and its impact on firms' future stock price crash risk.

Membrane biological reactor (MBR) is recognized as an efficient and steady wastewater treatment process. The purpose of this study is to reveal the research trends of scientific outputs on MBR for the past 32 years.

A method of bibliometric analysis was performed, based on the online version of the Science Citation Index Expanded, Web of Science, from 1982 to 2013. In total, 5,305 articles related to MBR were evaluated. A new method named “word cluster analysis” was also used for further analysis.

Results showed a rising trend of publications in this research field. English was the main language used in these articles. Journal of membrane science published the most articles, proving to be one of the most authoritative journals. China and Dalian University of Technology were the most productive country and institute, respectively. Except for “membrane bioreactor” and “MBR”, “membrane fouling” was the most cited keyword, indicating the research hotspot nowadays and future.

This study serves as an alternative and innovative way of revealing the research trends in MBR research.

In the construction of charging piles, traditional gas stations possess significant advantages in terms of regional and financial resources. The transformation of gas stations into “refueling+charging” integrated gas stations relies on charging pile manufacturers and government, involving coordination issues with them. This paper aims to propose a joint coordination contract based on the principles of cost-sharing and revenue-sharing. The objective is to achieve systemic coordination among integrated gas stations, charging pile manufacturers, and the government, optimizing the planning of the quantity of charging piles and charging prices.

We have constructed an operational system model based on the Stackelberg game between charging pile manufacturers, integrated gas stations, and government. We have analyzed the optimal quantity of charging piles and charging prices under the impact of government subsidy policies in both decentralized and centralized operation scenarios. Additionally, we have proposed a joint coordination contract based on cost-sharing and revenue-sharing to coordinate this tripartite operational system.

The study reveals that, under simple cooperative contracts, the optimal decision does not yield maximum profits for the operational system due to the “double-marginal effect”. However, under the impact of the joint coordination contract, which combines cost-sharing and revenue-sharing as proposed in this paper, gas stations will consider the charging pile manufacturer’s costs and government subsidies when determining the optimal quantity and price. This not only achieves system coordination but also results in Pareto improvement in the benefits of all system members by adjusting contract parameters.

The value of this research lies in its insights into operational strategies for the construction of charging piles for electric vehicles. By analyzing optimal decisions under different contract arrangements, the study provides guidance to relevant stakeholders, enabling the operational system to achieve greater efficiency and coordination and realize more extensive Pareto improvements. Furthermore, it extends the application of coordination contract theory in the context of charging pile construction and operations.

Innovation quality is a critical component of enterprise innovation. Prior research primarily focuses on company-level and external policy-level factors that affect innovation quality, while ignoring social-level factors. Based on institutional isomorphism theory, this study examines how the innovation quality of three-dimensional institutional equivalence, which is an important and unique reference group for firms to follow the “law of imitation of close preference”, affects the likelihood of firms' innovation quality.

This study conducts firm random effects and industry/year fixed effects models using China's listed companies from 2002 to 2021.

This study finds that compared with the innovation quality of its other industry, community, or network peers, the innovation quality of three-dimensional institutional equivalence has a greater impact on firm innovation quality. Furthermore, technological intensity significantly increases the effect of three-dimensional institutional equivalence on focal company innovation quality, while financing constraints significantly attenuate this effect. Additionally, when there is no institutional equivalent, the innovation quality of network, industry, and community peers has significant positive effects on enterprise innovation quality. Heterogeneity analysis also indicates that, under the conditions of non-state-owned enterprises, a low regional legal environment, or low regional factor market development, three-dimensional institutional equivalence contributes significantly to firm innovation quality.

This study focuses on the effect of three-dimensional institutional equivalence on Chinese enterprises' innovation quality. Nonetheless, research samples from other countries are not considered in this study.

This study explores the impact of three-dimensional institutional equivalence on firm innovation quality within a systematic theoretical framework and incorporates firm attributes into this framework.

The purpose of this study is to analyze state-of-the-art knowledge of artificial intelligence (AI) research in hospitality.

This study adopts the theory-context-methods framework to systematically review 100 AI-related articles recently published (i.e. from 2021 to April 2023) in three top-tier hospitality journals, namely, the International Journal of Contemporary Hospitality Management, International Journal of Hospitality Management and Journal of Hospitality Marketing and Management.

Findings suggest that studies of AI applications in hospitality are mostly theory-driven, whereas most AI methods research adopts a data-driven approach. State-of-the-art AI applications research exhibits the most interest in service robots. In AI methods research, little attention was paid to the amid-service/experience.

This study reveals inadequacies in theory, context and methods in contemporary AI research. More research from hospitality suppliers’ perspectives and research on generative AI applications are advocated in response to the unveiled research gaps and recent AI developments.

This study classifies the most recent AI research in hospitality into two main streams – AI applications research and AI methods research – and discusses the gaps in each research stream and latest AI developments. The paper then suggests future research directions to guide researchers in advancing AI research in hospitality.