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This study examines how maturity mismatch, a specific type of financial structure of firms, affects corporate outward foreign direct investment (OFDI).

Using the number of newly established foreign subsidiaries in a given year as firm-level OFDI and utilizing data from Chinese listed firms between 2007 and 2022, we employ a negative binomial regression model to examine the impact of corporate maturity mismatch on the OFDI. We also make efforts to ensure the robustness of the result, such as employing an exogenous policy to establish a difference-in-difference model.

The empirical result indicates that maturity mismatch inhibits firms' OFDI. Additional test shows that maturity mismatch increases firms' financing costs and reduces firms' research and development (R&D) investment and that the negative impact of maturity mismatch on OFDI is predominantly observed in firms with high financial constraints and low R&D intensity, indicating that maturity mismatch may affect firms' OFDI through the financing cost channel and the R&D investment channel.

Corporate maturity mismatch is common in China and similar emerging markets. However, research on the economic consequences of maturity mismatch, especially its impact on firms' overseas expansions, is rare. This study establishes the relationship between corporate maturity mismatch and OFDI, contributes to the literature on the relationship between financial factors and OFDI, and provides policy implications for emerging market countries.

The purpose of the paper is to present a theoretical framework and the preliminary results of a research on how to assess information technology (IT) investments so as to deliver maximum business value.

To see whether IT projects fit strategy, the Strategy Map provides a framework for defining the portfolio value and data envelopment analysis (DEA) is used to measure the efficiency of project portfolios. Subsequently, an application that illustrates the value of the framework is described.

The authors offer a framework that integrates the Strategy Map and IT project portfolio management (PPM) and suggest that this conceptual framework will allow an organization to enhance the value of IT investments.

This paper is supported by a case study using secondary data only.

The suggested method could help CEOs to understand the interactions between projects and strategy and thus supports decision making to prioritize and track IT investments. The paper illustrates how the proposed framework is applied. It also provides the basis for further research.

By explicitly linking IT investment with organizational goals, this approach produces results that differ from those of previous studies and provides a strategy-based approach to PPM.

Accurate presentation of the rock microstructure is critical to the grain-scale analysis of rock deformation and failure in numerical modelling. 3D granite microstructure modelling has only been used in limited studies with the mineral pattern often remaining poorly constructed. In this study, the authors developed a new approach for generating 2D and 3D granite microstructure models from a 2D image by combining a heterogeneous material reconstruction method (simulated annealing method) with Voronoi tessellation.

More specifically, the stochastic information in the 2D image is first extracted using the two-point correlation function (TPCF). Then an initial 2D or 3D Voronoi diagram with a random distribution of the minerals is generated and optimised using a simulated annealing method until the corresponding TPCF is consistent with that in the 2D image. The generated microstructure model accurately inherits the stochastic information (e.g. volume fraction and mineral pattern) from the 2D image. Lastly, the authors compared the topological characteristics and mechanical properties of the 2D and 3D reconstructed microstructure models with the model obtained by direct mapping from the 2D image of a real rock sample.

The good agreements between the mapped and reconstructed models indicate the accuracy of the reconstructed microstructure models on topological characteristics and mechanical properties.

The newly developed reconstruction method successfully transfers the mineral pattern from a granite sample into the 2D and 3D Voronoi-based microstructure models ready for use in grain-scale modelling.

Scholars have examined the possible relationship between information technology (IT) and organizational agility. Although the general-level effect of IT is undisputed, empirical research on how different types of IT contribute to various aspects of organizational agility remains scarce. Therefore, this study aims to propose an integrated framework of internal capability and external environment to address this research gap.

This study investigates the potential mediating effects of absorptive capacity and the moderating effects of information intensity in the IT‒agility relationship. With a dataset comprising 165 organizations in China, this work provides empirical evidence that the effects of absorptive capacity and information intensity are multifaceted and nuanced, thereby revealing the latent mechanisms of IT competency and organizational agility.

Absorptive capacity partially mediates the effects of IT knowledge and IT operations on market capitalizing agility and fully mediates their effects on operational adjustment agility. However, no direct or indirect effects of IT objects are found on both types of organizational agility. Information intensity also positively moderates the effects of IT operations and IT objects on absorptive capacity. However, no significant moderation is found with regard to IT operations.

This study provides novel insights by demonstrating clearly the different mediating roles of absorptive capacity in the relationship among various types of IT competency and diverse aspects of organizational agility. This work also underscores the moderating role of information intensity in shaping absorptive capacity through IT competency.

The purpose of this paper is to explore the joint effects of different types of IT resources and top management support. Especially, the authors attempt to mainly examine a negative synergy or substitution relationship between IT infrastructure resources and CEO support, and a positive synergy or complementary relationship between IT human resources and CEO support among the large-sized enterprises.

A research model that integrates IT infrastructure resources, IT human resources, CEO support and the degree of usage of IT for business objectives (i.e. IT business spanning capability) is developed. Based on a sample of 112 large-sized enterprises, partial least squares is used to analyze the research model.

Whereas the positive moderating role of CEO support in the effectiveness of IT human resources is insignificant, CEO support and IT infrastructure resources have a substitution relationship in predicting IT business spanning capability. Furthermore, the results can explain under which conditions IT infrastructure resources insignificantly or significantly affect IT business spanning capability in large-sized enterprises. Specially, IT infrastructure resources significantly affect IT business spanning capability only when CEO support is low. Thus, in the presence of high CEO support, IT executives in large-sized enterprises should prioritize developing highly effective IT resources, such as IT human resources.

This paper highlights the joint effects of two critical IT resource types (i.e. IT infrastructure and IT human resources) and CEO support in the IT assimilation process among the large-sized enterprises, ultimately contributing to information systems theories and practices.

This study aims to simulate and test the performance of a transmitting and receiving capacitive micro-machined ultrasonic transducer (CMUT). Aimed at detecting demand of the CMUT, a matched integrated adjustment circuit was designed through analyzing processing methods of transducer’s weak echo signal.

Based on the analysis of CMUT array structure and work principle, the CMUT units are designed and the dynamic performance analysis of SIMULINK is given according to the demand of underwater detecting. A transceiver isolation circuit is used to make transmission mode and receiving mode separate. A detection circuit is designed based on the transimpedance amplifier to achieve extraction of high-frequency and weak signal.

Through experimentation, the effectiveness of the CMUT performance simulation and the transceiver integrated adjustment circuit were verified. In addition, the test showed that CMUT with 400 kHz frequency has wider bandwidth and better dynamic characteristics than other similar transducers.

This paper provides a theoretical basis and design reference for the development and application of CMUT technology.

Laser cladding has been used in the field of repairing damaged parts of machine tools due to its advantages of less processing restrictions and easy formation of a good metallurgical bond with the base material. However, the mechanical properties of the coating sometimes cannot meet the process requirements. Therefore, the purpose of this paper is to prepare coatings with high microhardness and flexural strength.

The YCF102 alloy powder was mixed with different contents of Co and tested for laser cladding on AISI 1045 substrate under the same process parameters. The main phase composition of the coating was revealed by the XRD results. The main chemical composition of the coating was determined by the SEM and EDS results. In addition, the effect of Co content on the microstructure, microhardness and flexural strength of the coatings was investigated.

The results show that when the Co content is 2 wt% and 4 wt%, Co does not form compounds with other elements, but is uniformly distributed in the coating. And when the Co content is 6 wt% and 8 wt%, the Co reacts with Fe in the coating and generates Co₃Fe₇ in situ. The increase in Co did not result in a monotonic change in microhardness, but significantly improved the flexural strength and the flatness of the microstructure of the coating. When the Co content of the mixed powder is 8 wt%, the coating has high microhardness and flexural strength.

Co/YCF102 composite coating with high microhardness and flexural strength was prepared. This paper provides a theoretical and practical basis for research in the area of repairing damaged parts of machine tools by laser cladding.

This study aims to improve the maneuverability and stability of four-wheel chassis in a small paddy field; a front axle swing steering four-wheel chassis with optimal steering is designed.

When turning, the front inner wheel stops and the rear inner wheel is in the following state. The hydraulic drive system of the walking wheel adopts a driving mode in which two front-wheel motors are connected in series and two rear wheel motors in parallel. The chassis uses a combination of a gasoline engine with a water cooling system, a CVT continuously variable transmission and a hydraulic drive system to increase the control capability. The front axle rotary chassis adopts a step-less variable speed engine and a hydraulic control system to solve the hydraulic stability of the chassis in uphill and downhill conditions so as to effectively control the over-speed of the wheel-side drive motors. Through the quadratic orthogonal rotation combination design test, the mathematical models of uphill and downhill front-wheel pressures and test factors are established.

The results show that the chassis stability is optimal when the back pressure is 0.5 MPa, and the rotating slope is 4°. The uphill and downhill pressures of the front wheels are 2.38 MPa and 1.5 MPa, respectively.

The influence of external changes on the pressure of hydraulic motors is studied through experiments, which lays the foundation for further research.

Based on the error analysis, the authors proposed a new kind of high accuracy boundary element method (BEM) (HABEM), and for the large-scale problems, the fast algorithm, such as adaptive cross approximation (ACA) with generalized minimal residual (GMRES) is introduced to develop the high performance BEM (HPBEM). It is found that for slender beams, the stress analysis using iterative solver GMRES will difficult to converge. For the analysis of slender beams and thin structures, to enhance the efficiency of GMRES solver becomes a key problem in the development of the HPBEM. The purpose of this paper is study on the preconditioning method to solve this convergence problem, and it is started from the 2D BE analysis of slender beams.

The conventional sparse approximate inverse (SAI) based on adjacent nodes is modified to that based on adjacent nodes along the boundary line. In addition, the authors proposed a dual node variable merging (DNVM) preprocessing for slender thin-plate beams. As benchmark problems, the pure bending of thin-plate beam and the local stress analysis (LSA) of real thin-plate cantilever beam are applied to verify the effect of these two preconditioning method.

For the LSA of real thin-plate cantilever beams, as GMRES (m) without preconditioning applied, it is difficult to converge provided the length to height ratio greater than 50. Even with the preconditioner SAI or DNVM, it is also difficult to obtain the converged results. For the slender real beams, the iteration of GMRES (m) with SAI or DNVM stopped at wrong deformation state, and the computation failed. By changing zero initial solution to the analytical displacement solution of conventional beam theory, GMRES (m) with SAI or DNVM will not be stopped at wrong deformation state, but the stress error is still difficult to converge. However, by GMRES (m) combined with both SAI and DNVM preconditioning, the computation efficiency enhanced significantly.

This paper presents two preconditioners: DNVM and a modified SAI based on adjacent nodes along the boundary line of slender thin-plate beam. In the LSA, by using GMRES (m) combined with both DNVM and SAI, the computation efficiency enhanced significantly. It provides a reference for the further development of the 3D HPBEM in the LSA of real beam, plate and shell structures.