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This study aims to examine the moderating effect of audit firm tenure on the association between corporate social responsibility (CSR) and firm value. Prior studies provide mixed results on this association, which may be due to differing theoretical expectations related to CSR and firm value. It is also possible that external stakeholders are unable to differentiate between positive and negative CSR investments, as CSR reports are generally not assured by independent third parties. Thus, the authors propose that audit firm tenure may be used by external stakeholders to evaluate CSR performance.

The authors use an ordinary least squares regression to examine the moderating effect of audit firm tenure on the relation between CSR and firm value after controlling for other determinants of firm value and various internal and external governance mechanisms documented in the literature. The sample consists of 15,707 firm-year observations from US firms during the sample period of 2000 to 2012. The authors measure CSR quality using rating scores from MSCI ESG STATS (formerly the KLD database), audit firm tenure as the number of years the incumbent auditor has served the client and firm value using Tobin’s Q.

The results indicate that CSR is positively associated with firm value when audit firm tenure is long but not when tenure is short. The results are robust to alternative measures of firm value, CSR performance scores, and individual CSR dimensions. The evidence supports the argument against mandatory audit firm rotation in the USA.

Future studies could examine a similar issue in alternative settings and/or look at cross-sectional variations among firms on the association between CSR and firm value by other auditor traits such as auditor industry specialization and big-name reputation. Additionally, as auditor alone is unable to ensure the quality of management disclosures and their accountability, future studies could examine the moderating effect of internal and other external governance mechanisms on the association between CSR and firm value, exploring when the signaling effect of auditor tenure on CSR reporting quality and its effect on firm value is most salient.

The findings are important to regulators and investors. The authors provide evidence that longer audit tenure serves as a signaling device for external investors with regard to the quality of a firm’s CSR performance. Hence, the study facilitates regulators’ cost-benefit analysis related to mandating audit firm rotation. The evidence suggests that mandating a term limit on auditor tenure may have the unintended consequence of eliminating a signaling effect of auditor tenure on the quality of CSR disclosures under information asymmetry. This supports the Public Company Oversight Board’s decision to forgo the requirement of mandatory audit firm rotation in the USA.

Prior literature presents mixed findings on the association between CSR performance and firm value based on a variety of underlying theories (economic, stakeholder and contingency theory). Literature on mandatory auditor rotation has concentrated on the auditor tenure effect on perceived and actual audit quality as reflected in earnings quality. Relying on agency theory, this study posits that auditor tenure serves as a signal for the quality of CSR activities in the absence of CSR assurance reporting as CSR quality can be difficult to evaluate. The authors provide evidence that audit tenure moderates the association between CSR activities and firm value and longer audit tenure makes it more likely that the CSR activities are associated with increased firm value.

With the growth of online shopping, during which consumers are not able to touch products, there is much for researchers and marketers to learn about the underlying role of the need for touch (NFT) in driving online shopping decisions. Consumers' emotional state prior to purchase is considered a situational variable that affects their attitude and behaviour. This study explores the effects of consumers' NFT and pre-purchase emotional states on their online decision-making behaviour, examining perceived quality, confidence in product judgment and intention to purchase.

A field experiment was conducted using a scenario presenting buying a sweater as a real purchase opportunity available to participants. A convenience sample of two hundred ninety-eight university students at a university in the southeast of France was used in this study. A 2 (NFT: high/low determined by a median split) × 2 (emotional states: high/low level) analysis of variance (ANOVA) was used to further examine the interaction of NFT and emotional states in consumer decision making.

The results indicate that autotelic NFT and positive emotional states experienced before shopping have an impact on consumers' decisions in relation to perceived quality, confidence in product judgment and intention to purchase. Furthermore, this study demonstrates that instrumental vs autotelic NFT affects consumer decision making, with mixed support found for negative emotional states acting as possible moderators.

This study advances the NFT field and leads to insights regarding online consumer purchase decision making by exploring instrumental vs autotelic NFT and pre-purchase emotional states as antecedents of consumer decisions.

The use of information technology (IT) in the hospitality industry is driven by the need to improve and refine customer service. However, it is unlikely that new IT will be successfully implemented if employees' roles and emotions are overlooked. The purpose of this study is to examine the interplay of negative emotions (anger and fear), coping strategies (venting anger and psychological distancing), perceptions of an IT innovation and intention toward adopting it.

A research model is developed based on the cognitive appraisal theory of emotion, coping theory and innovation diffusion theory. An online survey was conducted among employees working for hotels that had deployed a new reservation system, and 234 responses were collected.

The results indicate that employees' negative emotions (anger and fear) have negative and significant effects on their perceptions of adopting a new reservation system through coping strategies (i.e. venting anger and psychological distancing). Furthermore, employees' perceptions of adopting an innovative reservation system have a positive effect on their adoption intention toward the system.

To the best of our knowledge, this is the first research to address the impact of distinct emotions on IT innovation adoption, as well as explaining the relation between affective and cognitive effects. The findings demonstrate the importance of examining negative emotions in IT innovation adoption. In addition, the model developed in this study confirms that an appraisal tendency approach better specifies the conditions under which different emotions are triggered to predict and explain how emotions relate to IT use through adaptation behaviors when compared with a valence-based approach.

The study aims to examine the indirect relationships via application (app) brand self-relevance emotions and self-relevance that underlie the relationships between perceived value of mobile apps and (brand) love with respect to mobile apps. The study further investigates the moderating role of user–app relationship duration in the formation process of brand love for mobile apps from a dynamic and long-term perspective.

A multiple moderated-mediation model is developed and empirically tested with a sample of 396 users of popular Chinese mobile educational apps.

The study reveals that utilitarian value exhibits positive indirect relationships with brand love for mobile apps through increased positive self-relevance emotions. All three types of perceived value of mobile apps (utilitarian, hedonic and social) affect app brand love positively via self-relevance. These three types of perceived value were found to be serially linked to brand love through self-relevance and self-relevance emotions. Furthermore, empirical evidence is found for the moderating effects of user–app relationship duration.

By testing mechanisms simultaneously in an integrative model, this study investigates the reasons for app brand love that attract a user into a lasting relationship with an app and extends knowledge of the app brand love building process in inducing strong and positive brand–self connections. Our study also makes practical contributions by offering insights into delivering the most desired benefits to mobile app users according to different contextual conditions, in order to attract and retain users in a more cost-effective manner.

This study aims to investigate the cross-sectional differences on the association between corporate social responsibility (CSR) and future bankruptcy along the dimensions of political connection and corporate governance strength. This study intends to provide evidence on the tangible benefits for firms to invest in social capital of CSR activities and offer insights on what firms may benefit more from CSR expenditure.

Running a logistic regression on the determinants of bankruptcy model after controlling for financial stress factors based on prior literature, this study examines the moderating effect of political connection and corporate governance on the association between corporate social responsibility and future bankruptcy.

Current study documents that the negative association between corporate social responsibility and future bankruptcy is only significant for politically connected firms, but insignificant for non-politically connected firms. Specifically, the authors find that one standard deviation increase of CSR expenditure significantly reduces the propensity of future bankruptcy by 53.20% for politically-connected firms. Conversely, the negative relation between CSR only exits for firms with weak corporate governance but do not exit for firms with strong corporate governance.

Current study provides evidence on the tangible benefits for firms to invest in social capital of CSR activities and offers additional insights on what firms may benefit more from CSR expenditure.

Current study extends the research to examine the cross-sectional variations in the negative association between CSR performance and the propensity of bankruptcy. The positive moderating effect of political connection on CSR and bankruptcy suggests that political connection and CSR are complements in reducing the propensity of future bankruptcy. A more pronounced negative association between CSR and bankruptcy for firms with weaker governance suggests that firms with weak corporate governance benefits more in engaging CSR activities than firms with strong corporate governance.

The long-term development of a mobile gaming application (app) depends on its continued use by its users. The expectation–confirmation model of IS continuance was used as the basic framework, to which bi-dimensional consumption emotions were added to help better explain satisfaction judgment and continuance intention in the context of mobile gaming app use. The paper aims to discuss this issue.

The data were analyzed using structural equation models. The effects of positive consumption emotions and negative consumption emotions were examined, respectively, in Models 1 and 2. Competing models (Models 3 and 4) were also examined in order to compare the proposed model.

Both PE and NE have an effect on the satisfaction of mobile gaming app users and their continued usage intention, a finding that represents an important contribution to the extension of technology continuance theory. Comparison with the IS continuance model shows that the new model can explain significantly more variance in continuance intention.

Mobile gaming firms should pay attention to users’ consumption emotions, especially negative emotions. Some specific emotions involved in mobile gaming app use were identified, which could guide firms’ understanding of users’ emotions.

This study offers insight into the role of consumption emotions in forming continuance intentions toward mobile gaming app use in China, a topic that has not previously been investigated.

This paper aims to clarify the friction properties of 304 steel surface modification. The surface modification includes laser texturing processing and nitriding treatment on 304 steel surface, and then the friction properties’ test was conducted on different friction directions and different upper test samples by using microfriction and wear testing machine.

The diameter and spacing of 100-, 150-, 200-, 300-μm pit array on the surface of 304 steel were calculated using a M-DPSS-50 semiconductor laser device. Then, the textured surface was nitriding-treated using a nitriding salt bath device. The chemical composition, surface morphology and surface microhardness of the composite-modified surface were measured by X-ray diffraction and by using an optical microscope and a microhardness tester. The tribological characteristics of the composite-modified surface were tested by MRTR microcomputer-controlled multifunctional friction and wear testing machine.

The result showed that a rule pit texture surface was obtained by the texture processing. The microhardness of nitriding treatment surface reached 574.27HV0.1, which significantly higher than 222.58HV0.1 of 304 steel. The composite-modified surface has excellent anti-friction and wear resistance properties when the upper specimen was GCr15 steel and ZrO2, respectively. The composite-modified surface has excellent anti-friction and anti-wear properties after long time friction under different angles. However, the friction coefficient and wear morphology of the friction pairs are not affected by the friction angle.

Because of the chosen research approach, the research results may lack generalizability. Therefore, researchers are encouraged to test the proposed propositions further.

The paper conducted a systematic study of the tribological characteristics of 304 steel composite modification surface and provided a good basis for the extensive application of 304 steel.

The study provides a good basis for the extensive application of 304 steel.

This paper fulfils an identified need to study the extensive application of 304 steel.

Introduction: The insurance sector provides security to society by pooling resources to manage risks. Insurers’ improved ability to analyse risks by examining vast amounts of granular data has considerably refined this technique. Compiling and analysing the fine data sets is now transformed into the ‘Big Data’ technique. The introduction of big data analytics (BDA) is transforming the insurance industry and the role data plays in insurance.

Purpose: This chapter will attempt to examine the applications and role of big data in the insurance sector and how big data affects the different insurance segments like health insurance, property and casualty, and travel insurance. This chapter will also describe the disruptive impact of big data on the insurance market.

Methodology: Systematic research is carried out by analysing case studies and literature studies, emphasising how BDA is revolutionary for the insurance market. For this purpose, various articles and studies on BDA in the insurance market are selected and studied.

Findings: The execution of big data is continuously increasing in the insurance sector. The performance of big data in the insurance market results in cost reduction, better access to insurance services, and more fraud detection that benefits the customers and stakeholders. Therefore, big data has revolutionised the insurance market and assisted insurers in targeting customers more precisely.

The purpose of this paper is to examine the impact of career concerns on CEOs’ use of expectations management to meet or beat analysts’ quarterly earnings forecasts. The authors posit that early career-stage CEOs are less (more) likely to use expectations management than are late career-stage CEOs if the market views expectations management as an opportunistic strategy (efficient process) due to reputational capital concerns.

The authors obtain data for CEO career stages and CEO compensation from ExecuComp, analyst earnings forecasts from the detailed I/B/E/S database, financial statement data from quarterly Compustat and stock returns from the daily CRSP database over the period 1992–2013.

The results are consistent with the opportunistic hypothesis and early-stage CEOs seeking to build reputational capital by avoiding the perception of engaging in an inefficient managerial strategy. The authors find robust evidence that late career-stage CEOs are more likely to engage in expectations management than early career-stage CEOs. Furthermore, the authors show that late career-stage CEOs tend to employ expectations management to boost the value of their equity-based compensation.

The findings have important implications because the authors document a different implication of the “horizon problem” related to CEOs’ opportunistic forecasting behavior and the manipulation of analysts’ forecasts for CEOs who are approaching retirement.

The results have practical implications for analysts who provide earnings forecasts for firms whose CEOs are in early or late career stages and for investors who use such analysts’ forecasts in firm valuation models.

The authors contribute to the literature on expectations management by documenting how reputational incentives of CEOs affect the likelihood that managers engage in expectations management. The authors show that an important managerial incentive to engage in expectations management is CEO career concerns. Furthermore, the authors show that CEOs who are in early stages of their careers choose not to engage in expectations management due to the market’s perceived degree of opportunism pertaining to this strategy.

The purpose of this paper is to identify the key parameters that control the bonding formation of foils by the ultrasonic consolidation (UC) process and to build the correlations among process operating conditions and key control parameters through the concept of “process map”.

The concept of “process map” is proposed based on the diffusion bonding mechanism for the UC process, and numerical simulations have been applied to the UC process to predict peak temperature and plastic strain at the contact interface by considering a wide range of process operating conditions.

This map reveals that the formation of bonding among foils by the UC process requires a good match between temperature and plastic deformation at the contact interface. This limits the process operating window to a narrow region in the strain – temperature coordinate system.

This work has identified the underlying mechanism for bonding formation and the key control parameters of the UC process. The concept of “process map” for the UC process was developed, which allows the process optimization through two critical process control parameters of temperature and plastic strain at the contact interface instead of five operating conditions.