Jie Xiong, Jie Yan, Kun Fu, Ke Wang and Yuanqiong He
This paper aims to understand the role of government played in the innovation process during the social crisis, and to investigate the innovation activities of the authoritarian…
Abstract
Purpose
This paper aims to understand the role of government played in the innovation process during the social crisis, and to investigate the innovation activities of the authoritarian state when dealing with social crisis.
Design/methodology/approach
Secondary data pertaining to eight impactful technological innovations in China during the COVID-19 crisis reveal how interactions and joint efforts by commercial firms and government organizations emerged as spontaneous responses.
Findings
The analysis of eight innovations – health code adoption, health omnichannel construction, noncontact service provision, distance education provision, public emotion consolation service, cross-boundary project promotion, cloud office adoption and medical material production – reveals a matrix of best practices that details the roles of government (controller or endorser) and the value creation orientation (pro-social or pro-economic value).
Originality/value
This study enriches innovation literature by providing a new perspective on the relationship between governmental force and technological innovation during social crises. As these new insights reveal, technological innovation can contribute to social crisis management. China’s example provides helpful implications for other countries suffering from the COVID-19 crisis.
Details
Keywords
Ye Zhang, Louise Scholes, Kun Fu, Mathew Hughes and Fangcheng Tang
This paper is about equity crowdfunding syndicates as a form of entrepreneurial finance and looks specifically at the lead investors' human capital and their ability to raise…
Abstract
Purpose
This paper is about equity crowdfunding syndicates as a form of entrepreneurial finance and looks specifically at the lead investors' human capital and their ability to raise funds.
Design/methodology/approach
The authors develop regressions on a unique hand-collected dataset of 178 lead investors taken from the US-based platform AngelList.
Findings
Results indicate that lead investors' specialized human capital has a positive effect on their syndicate fundraising performance. However, it does not find a significant effect of general human capital. It also finds that specialized human capital is mediated by the reputation of the lead investor on the platform.
Research limitations/implications
This study extends human capital theory in the crowdfunding context by providing a more comprehensive portrait of human capital and in doing so, shifts the focus from an entrepreneur to an investor perspective, an approach much neglected in the crowdfunding literature.
Originality/value
This study advances the current knowledge on crowdfunding as it is one of the first to understand syndicate investment as an innovative and alternative platform-based financial channel. It also contributes to the current debate on the role of human capital in crowdfunding and more generally to entrepreneurial finance.
Details
Keywords
Xiangru Wu, Kun Wang and Xiaowen Fu
This chapter reviews the competition between full-service carrier (FSC) and low-cost carrier (LCC) in China. More importantly, we discuss the impacts of the COVID-19 pandemic on…
Abstract
This chapter reviews the competition between full-service carrier (FSC) and low-cost carrier (LCC) in China. More importantly, we discuss the impacts of the COVID-19 pandemic on FSC–LCC competition. Specifically, the airlines' route choices and also the market contact between FSCs and LCCs in China are examined and discussed. Our review results suggest that, despite the rapid growth of the independent LCC Spring Airlines and the establishment of new subsidiary LCCs by FSCs, China's LCC sector still plays relatively minor roles compared with many fully deregulated markets. Subsidiary LCCs serve more as competitive tools for their parent FSCs, primarily deployed on their parent FSCs' routes to jointly compete against rival FSCs. This competition is primarily focused on niche regional markets rather than engaging in full-scale competition. Spring Airlines also strategically avoided direct head-to-head competition with FSCs before the pandemic by mainly connecting with the secondary cities. However, the pandemic has introduced significant changes, notably the network differentiation between FSCs and LCCs in mainland China. With the relaxation of government's regulations on airline route entries into hub airports during pandemic, Chinese LCCs have shifted their focus toward serving more dense routes, especially those connected to the top five cities. This shift has led to an intensified head-to-head competition between LCCs and FSCs following the outbreak of the pandemic. Such a process is likely to continue in the years to come. This chapter's discussions could also provide new insights into LCC development and the impact of the pandemic on FSC–LCC competition interactions to supplement existing literature studying other major airline markets.
Details
Keywords
The incident mirrors similar alleged China-linked acts in the Baltic Sea over the past year amid elevated hybrid warfare by both Beijing and Moscow. It may have aimed to provide…
Details
DOI: 10.1108/OXAN-DB292232
ISSN: 2633-304X
Keywords
Geographic
Topical
Yang Liu, Kangyin Dong, Kun Wang, Xiaowen Fu and Farhad Taghizadeh-Hesary
The purpose of this study is to examine the impact of green bonds on common prosperity in China. Green bonds have gained significant attention as a means to address financial…
Abstract
Purpose
The purpose of this study is to examine the impact of green bonds on common prosperity in China. Green bonds have gained significant attention as a means to address financial challenges and promote environmental protection. This research aims to investigate the influence of green bonds on common prosperity by utilizing the system-generalized method of moments (SYS-GMM) and analyzing panel data from prefecture-level cities. The study also explores the theoretical mechanisms and heterogeneous relationships between green bonds and common prosperity, providing valuable guidance for advancing economic and social well-being in China.
Design/methodology/approach
This study employs a system-generalized method of moments (SYS-GMM) as the methodology to investigate the influence of green bonds on common prosperity in China. Panel data from prefecture-level cities for the period 2014 to 2020 are utilized for analysis. The SYS-GMM approach allows for the examination of dynamic relationships and control of endogeneity issues. By utilizing this methodology, the study aims to provide robust and reliable findings on the impact of green bonds on common prosperity, considering the specific context of China's ecological civilization development and financial challenges faced by energy-saving and environmental protection enterprises.
Findings
The findings of this research indicate several important outcomes. Firstly, common prosperity in China experienced substantial growth between 2014 and 2020. Secondly, green bonds have demonstrated a clear and positive impact on common prosperity. They contribute to the enhancement of common prosperity by driving industrial structure upgrading and fostering green technology innovation. Lastly, the study reveals that the positive influence of green bonds on common prosperity is particularly pronounced in the western region of China. These findings highlight the significance of green bonds in promoting sustainable economic development and societal well-being.
Originality/value
This study contributes to the existing literature by examining the impact of green bonds on common prosperity in China, utilizing the system-generalized method of moments (SYS-GMM) and panel data analysis. The research not only adds to the understanding of the relationship between green bonds and economic well-being but also provides insights into the theoretical mechanisms and heterogeneous relationships involved. The findings showcase the positive influence of green bonds on common prosperity, emphasizing their role in addressing financial challenges, promoting environmental protection, and driving sustainable development. The study's conclusions offer valuable guidance for policymakers, financial institutions, and stakeholders in advancing common prosperity in China.
Details
Keywords
Jia Yan, Xiaowen Fu, Tae Hoon Oum and Kun Wang
This chapter reviews the key results obtained in previous studies of airline mergers. It is found that the effect of mergers on airfares is dependent on the network configurations…
Abstract
This chapter reviews the key results obtained in previous studies of airline mergers. It is found that the effect of mergers on airfares is dependent on the network configurations of merging airlines. Fare increases are frequently observed on overlapped routes. However, if the networks of two merging airlines are complementary, the expanded network after the merger leads to cost savings, increase in travel options, and improvement in service quality. Therefore, in a deregulated market, with few entry barriers, relaxing merger regulations is likely to improve welfare. However, most welfare evaluations do not incorporate quality changes or dynamic competition effects. Empirical investigations are primarily ex post analysis of mergers that have already passed antitrust reviews. The relationship between market concentration and welfare might be nonlinear and market specific. Therefore, airline mergers and alliances should be reviewed case by case. Methodological improvements are needed in future studies to control for the effects of complicating factors inherent in ex post evaluations.
Details
Keywords
Achim I. Czerny, Xiaowen Fu, Guowei Hua, Zheng Lei and Kun Wang
The five countries in Central Asia, namely Uzbekistan, Kazakhstan, Turkmenistan, Tajikistan, and Kyrgyzstan, are landlocked and therefore rely critically on aviation for passenger…
Abstract
The five countries in Central Asia, namely Uzbekistan, Kazakhstan, Turkmenistan, Tajikistan, and Kyrgyzstan, are landlocked and therefore rely critically on aviation for passenger travel and express cargo logistics. However, despite substantial growth in the past decade, the aviation market in the region is still not realizing its full potential. This chapter reviews the development status of the international air travel market from Central Asia, with an aim of identifying the key barriers for industrial development and growth, and possible remedies to address these challenges. Overall, our study suggests that international market growth from the region is significantly influenced by historical patterns and political ties with Russia. Whereas markets linking selected countries such as Turkey and the UAE have experienced substantial growth, further liberalization is needed for the region to achieve better connectivity with major trade partners and aviation markets.
Details
Keywords
Ying He, Kun Tian and Jiangyang Fu
Preprint has become an important vehicle for academic communications and discussions. However, in preprint, there is a lack of a sufficient quality control mechanism such as peer…
Abstract
Purpose
Preprint has become an important vehicle for academic communications and discussions. However, in preprint, there is a lack of a sufficient quality control mechanism such as peer review, which is a proven quality assurance practice that is used in traditional academic publishing services. To address the problem leveraging on the power of this practice, the authors introduce into preprint a self-organizing peer review method by applying the concept of token economy and the blockchain technology.
Design/methodology/approach
Specifically, this paper proposes an idea that applies the token economy concept to the design of the incentive and penalty mechanisms for peer reviewers in preprint to assure the qualities of its publications. Steemit has been studied to demonstrate the characteristics of the mechanisms.
Findings
A token economy-enhanced framework for self-organizing peer review in preprint is also proposed. The resulting preprint system is an academic community-oriented, self-organizing and blockchain-based content publishing system that is designed to run on both permissioned and permissionless blockchains.
Research limitations/implications
First, since peer review is on a voluntary basis and not profits oriented, the “monetary” incentive and penalty mechanisms borrowed from Steemit may conflict with academic ethics. Second, the authors proposed to deploy the authors’ token economy on blockchain, but the current mainstream decentralized blockchain services are too few to warrant a foreseeable successful future for the authors’ application. In fact, as the flagship of blockchain 2.0, the Ethereum blockchain suffers from the problem of scalability, which leads to its applications' lower performances, longer response times and eventually more negative user experiences as time goes by. Finally, the authors’ proposed version of preprint has not been implemented, and hence, its practical effectiveness and acceptance by academia are yet to be evaluated.
Practical implications
In this paper, the authors proposed a token economy-based framework for self-organizing peer review in preprint leveraging on blockchain technology. This framework encourages positive interactions between authors and reviewers, which helps to establish a healthy academic ecology that produces more contents with better qualities. Application of a solution based on the authors’ framework should impact the current academic communities by offering a new academic peer reviewing tool that has a built-in mechanism for self-behavior correction and quality assurance.
Social implications
Through adaption, the framework can be applied to other domains as well. In such domains, a large amount of feedbacks from partakers are needed and there exists a tremendous amount of work to filter noises in feedbacks so as to ensure that as many the quality ones as possible are delivered for a variety of purposes. The authors’ framework essentially impacts almost all domains where there exists a need to collect and filter large amount of feedbacks, and using the authors’ framework-based solution is cost-saving, which can be seen as a major potential contribution of the research.
Originality/value
The incentive and penalty mechanisms encourage positive interactions between authors and reviewers, and it helps to establish a healthy academic ecology that produces high-volume contents with good qualities.
Details
Keywords
Meng Jiang, Ze-Ming Wang, Zhong-Ze Zhao, Kun Li and Fu Yang
The purpose of this paper is to demonstrate a simple fiber sensor for simultaneous measurement of liquid refractive-index (RI) and temperature.
Abstract
Purpose
The purpose of this paper is to demonstrate a simple fiber sensor for simultaneous measurement of liquid refractive-index (RI) and temperature.
Design/methodology/approach
The sensor structure is formed by a long period fiber grating cascaded with a section of thin-core fiber. The long period fiber grating is fabricated on single mode fiber, followed by a section of 20-mm length thin-core fiber which is a modal interferometer.
Findings
Cladding mode interference between long period fiber grating and thin-core fiber modal interferometer is weak in the experimental investigation. Both of these two cladding mode type fiber devices are sensitive to surrounding RI and temperature. So the RI and temperature can be measured simultaneously by monitoring the spectral characteristics of the compound sensor. The sensitivity is calibrated and sensor matrix is provided in the experiment.
Originality/value
This proposed fiber sensor is simple, tough, cost-effective and suitable for discriminate the liquid RI and temperature with high sensitivity.
Details
Keywords
Einleitung Dieser Artikel hat den Zweck, den heutigen Stand des Wissens auf dem Gebiet der strategischen Führung auf die Fremdenverkehrsunternehmung zu übertragen. Zweck der…
Abstract
Einleitung Dieser Artikel hat den Zweck, den heutigen Stand des Wissens auf dem Gebiet der strategischen Führung auf die Fremdenverkehrsunternehmung zu übertragen. Zweck der folgenden Ausführungen ist' es, die Orientierungsgrössen der strategischen Führung in ihrem Zusammenhang darzustellen. Es soll gezeigt werden, dass die entsprechenden, bisher im industriellen Bereich erprobten Denkkategorien auch für Fremdenverkehrunternehmungen gültig und mit Nutzen auf diese anwendbar sind. lm Rahmen dieses Artikels können nicht alle für die Tourismusbranche spezifischen Gegebenheiten vollumfänglich berücksichtigt werden. Die theoretischen Ausführungen werden jedoch anhand von zahlreichen konkreten Beispielen aus dem Tourismus‐ und Freizeitsektor erläutert. Neben Beispielen aus Fremdenverkehrsunternehmungen im engeren Sinne werden auch solche aus Fremdenverkehrsorten dargestellt, bei denen es sich in bestimmter Hinsicht urn unternehmungsartige Gebilde 1) handelt.