Wenxiong Lin, Huagang Liu, Haizhou Huang, Jianhong Huang, Kaiming Ruan, Zixiong Lin, Hongchun Wu, Zhi Zhang, Jinming Chen, Jinhui Li, Yan Ge, Jie Zhong, Lixin Wu and Jie Liu
The purpose of this paper is to explore the possibility of an enhanced continuous liquid interface production (CLIP) with a porous track-etched membrane as the oxygen-permeable…
Abstract
Purpose
The purpose of this paper is to explore the possibility of an enhanced continuous liquid interface production (CLIP) with a porous track-etched membrane as the oxygen-permeable window, which is prepared by irradiating polyethylene terephthalate membranes with accelerated heavy ions.
Design/methodology/approach
Experimental approaches are carried out to characterize printing parameters of resins with different photo-initiator concentrations by a photo-polymerization matrix, to experimentally observe and theoretically fit the oxygen inhibition layer thickness during printing under conditions of pure oxygen and air, respectively, and to demonstrate the enhanced CLIP processes by using pure oxygen and air, respectively.
Findings
Owing to the high permeability of track-etched membrane, CLIP process is demonstrated with printing speed up to 800 mm/h in the condition of pure oxygen, which matches well with the theoretically predicted maximum printing speed at difference light expose. Making a trade-off between printing speed and surface quality, maximum printing speed of 470 mm/h is also obtained even using air. As the oxygen inhibition layer created by air is thinner than that by pure oxygen, maximum speed cannot be simply increased by intensifying the light exposure as the case with pure oxygen.
Originality/value
CLIP process is capable of building objects continuously instead of the traditional layer-by-layer manner, which enables tens of times improvement in printing speed. This work presents an enhanced CLIP process by first using a porous track-etched membrane to serve as the oxygen permeable window, in which a record printing speed up to 800 mm/h using pure oxygen is demonstrated. Owing to the high permeability of track-etched membrane, continuous process at a speed of 470 mm/h is also achieved even using air instead of pure oxygen, which is of significance for a compact robust high-speed 3D printer.
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Lixin Wu and Chonhong Li
The purpose of this paper is to provide a framework of replication pricing of derivatives and identify funding valuation adjustment (FVA) and credit valuation adjustments (CVA) as…
Abstract
Purpose
The purpose of this paper is to provide a framework of replication pricing of derivatives and identify funding valuation adjustment (FVA) and credit valuation adjustments (CVA) as price components.
Design/methodology/approach
The authors propose the notion of bilateral replication pricing. In the absence of funding cost, it reduces to unilateral replication pricing. The absence of funding costs, it introduces bid–ask spreads.
Findings
The valuation of CVA can be separated from that of FVA, so-called split up. There may be interdependence between FVA and the derivatives value, which then requires a recursive procedure for their numerical solution.
Research limitations/implications
The authors have assume deterministic interest rates, constant CDS rates and loss rates for the CDS. The authors have also not dealt with re-hypothecation risks.
Practical implications
The results of this paper allow user to identify CVA and FVA, and mark to market their derivatives trades according to the recent market standards.
Originality/value
For the first time, a line between the risk-neutral pricing measure and the funding risk premiums is drawn. Also, the notion of bilateral replication pricing extends the unilateral replication pricing.
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In this chapter, we define the “inflation forward rates” based on arbitrage arguments and develop a dynamic model for the term structure of inflation forward rates. This new model…
Abstract
In this chapter, we define the “inflation forward rates” based on arbitrage arguments and develop a dynamic model for the term structure of inflation forward rates. This new model can serve as a framework for specific no-arbitrage models, including the popular practitioners’ market model and all models based on “foreign currency analogy.” With our rebuilt market model, we can price inflation caplets, floorlets, and swaptions with the Black formula for displaced-diffusion processes, and thus can quote these derivatives using “implied Black's volatilities.” The rebuilt market model also serves as a proper platform for developing models to manage volatility smile risks.
Through this chapter, we hope to correct two major flaws in existing models or with the current practices. First, a consumer price index has no volatility, so models based on the diffusion of the index are essentially wrong. Second, the differentiation of models based on zero-coupon inflation-indexed swaps and models based on year-on-year inflation-indexed swaps is unnecessary, and the use of “convexity adjustment,” a common practice to bridge models that are based on the two kinds of swaps, is redundant.
Lixin Sheng, Jianlin Wu and Jibao Gu
Drawing from the resource-based view (RBV), this study aims to develop a parsimonious model in the context of digital platforms that links strategic network resources (SNR) and…
Abstract
Purpose
Drawing from the resource-based view (RBV), this study aims to develop a parsimonious model in the context of digital platforms that links strategic network resources (SNR) and firm performance through considering dynamic capabilities (DC) as important mediating mechanisms. In addition, we also investigate how platform monitoring shapes the relationship between SNR and DC.
Design/methodology/approach
This study uses the survey data from 162 firms in eastern China.
Findings
The findings indicate that both two DC dimensions (i.e., sensing and reconfiguring) significantly mediate the relationship of SNR-performance. Moreover, platform monitoring positively moderates the relationship of SNR and sensing as well as SNR and reconfiguring.
Originality/value
With these findings, this study advances SNR and digital platform research and provides insights into how to transform SNR into superior performance through DC.
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Liying Zhou, Fei Jin, Banggang Wu, Xiaodong Wang, Valerie Lynette Wang and Zhi Chen
This study aims to examine if the participation of live-stream influencers (LSIs) affects tipping frequency on live streaming platforms, and further investigate the mediating and…
Abstract
Purpose
This study aims to examine if the participation of live-stream influencers (LSIs) affects tipping frequency on live streaming platforms, and further investigate the mediating and moderating mechanisms.
Design/methodology/approach
Quasi-experiment and difference-in-differences models are used for data analysis. Propensity score matching is used to address potential unobservable endogeneity.
Findings
Real-time live streaming data reveal that LSIs’ participation significantly improves tipping frequency in live streaming rooms. Also, more users are attracted to the live streaming rooms and more users become active in participation. Additionally, the positive impact of LSIs’ participation is enhanced in the live streaming rooms with a greater number of relationship links between users.
Research limitations/implications
The findings clarify the new role of influencers and reveal the mechanisms on how LSIs benefit the platforms.
Practical implications
The findings offer novel insights into implementing influencer marketing to interactive social media platforms, by encouraging influencer participation, user relationship building and influencer network growth.
Originality/value
This study highlights the value of LSIs for interactive social media platforms in terms of organic growth, revenue generation and cost reduction.
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Yanhui Song, Lixin Lei, Lijuan Wu and Shiji Chen
This paper focuses on the differences in domain intellectual structure discovery between author bibliographic coupling analysis (ABCA) and author co-citation analysis (ACA…
Abstract
Purpose
This paper focuses on the differences in domain intellectual structure discovery between author bibliographic coupling analysis (ABCA) and author co-citation analysis (ACA) considering all authors. The purpose of this study is to examine whether and in what ways these two all-author network approaches yield different results.
Design/methodology/approach
The sample was collected from the database of Web of Science, including all articles published in Scientometrics and Journal of Informetrics from 2011 to 2020. First, 100 representative authors were selected from each set, and ABCA matrices and ACA matrices were constructed. Second, factor analysis was carried out on the matrices, to detect the intellectual structure of scientometrics and informetrics.
Findings
The intellectual structures identified by ABCA and ACA are similar overall, but the results differ somewhat when it comes to specific structures. The ABCA is more sensitive to some highly collaborative research teams and presents a clearer picture of current intellectual structures and trends while ACA seems to have some advantages in representing the more traditional and proven research topics in the field. The combined use of ABCA and ACA allows for a more comprehensive and specific intellectual structure of research fields.
Originality/value
This paper compares the performance of ABCA and ACA detecting the intellectual structure of the domain from the perspective of all authors, revealing the intellectual structure of scientometrics and informetrics comprehensively.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-12-2020-0540.
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Lixin Liu, Justin Zuopeng Zhang, Wu He and Wenzhuo Li
Risks resulted from asymmetric information have become crucial barriers for commercial banks to implement supply chain finance (SCF) – mainly the inventory pledge financing (IPF)…
Abstract
Purpose
Risks resulted from asymmetric information have become crucial barriers for commercial banks to implement supply chain finance (SCF) – mainly the inventory pledge financing (IPF). At the same time, online financial service providers (OFSPs) are emerging as strong competitors in the SCF market. As a result, commercial banks need to update their traditional SCF business models and alleviate their over-dependence on OFSPs.
Design/methodology/approach
The authors employ a multi-case-study method to investigate how the Internet of things (IoT) and blockchain technologies can be jointly leveraged to mitigate SCF risks. In-depth interviews were conducted to depict the business models and their novel ecosystem to reinforce traditional banks' ability in SCF services.
Findings
From the perspective of information asymmetry, the authors categorize IPF risks into three groups based on the principal-agent theory: collateral, warehousing and liquidity risk. The findings suggest that IoT can primarily improve traditional banks' information acquisition ability, and blockchain can facilitate credible information transformation, enabling banks to acquire knowledge from collaterals. Besides, the e-platform in the new architecture increases banks' involvement in the supply chain and builds a fair network to curtail warehousing risks. The employment of smart contracts and collaborative mechanism ensure process and outcome control in mitigating liquidity risks.
Originality/value
The research contributes to the literature by confirming the role of emerging technologies in reducing information asymmetry risks. Besides, the findings provide valuable insights for practitioners to promote effective practices and approaches in IPF.
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Yan Jiang, Dayong Lv, Suyu Hao, Xiaokun Wei and Youyi Wu
This paper explores the linkage of digital infrastructure to the cost of debt.
Abstract
Purpose
This paper explores the linkage of digital infrastructure to the cost of debt.
Design/methodology/approach
This study uses the implementation of the “Broadband China” policy that improves digital infrastructure as an exogenous shock and exploits the difference-in-differences method (DID).
Findings
Empirical analyses show that digital infrastructure leads to increased firms’ borrowing costs, which is robust to several robustness checks. In addition, we find that this unfavourable effect can be attributed to intensified market competition led by digital infrastructure construction. Cross-sectional analysis shows that this effect is greater for non-SOEs and smaller firms. Finally, we offer additional evidence of the unfavourable effect by showing that digital infrastructure construction leads to decreased fundamentals.
Originality/value
Our paper unveils how digital infrastructure construction affects firms’ business strategy in using private debts and extends the determinants of firms’ borrowing costs.
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Wu He, Jui-Long Hung and Lixin Liu
The paper aims to help enterprises gain valuable knowledge about big data implementation in practice and improve their information management ability, as they accumulate…
Abstract
Purpose
The paper aims to help enterprises gain valuable knowledge about big data implementation in practice and improve their information management ability, as they accumulate experience, to reuse or adapt the proposed method to achieve a sustainable competitive advantage.
Design/methodology/approach
Guided by the theory of technological frames of reference (TFR) and transaction cost theory (TCT), this paper describes a real-world case study in the banking industry to explain how to help enterprises leverage big data analytics for changes. Through close integration with bank's daily operations and strategic planning, the case study shows how the analytics team frame the challenge and analyze the data with two analytic models – customer segmentation (unsupervised) and product affinity prediction (supervised), to initiate the adoption of big data analytics in precise marketing.
Findings
The study reported relevant findings from a longitudinal data analysis and identified some key success factors. First, non-technical factors, for example intuitive analytics results, appropriate evaluation baseline, multiple-wave implementation and selection of marketing channels critically influence big data implementation progress in organizations. Second, a successful campaign also relies on technical factors. For example, the clustering analytics could promote customers' response rates, and the product affinity prediction model could boost efficient transaction and lower time costs.
Originality/value
For theoretical contribution, this paper verified that the outstanding characteristics of online mutual fund platforms brought up by Nagle, Seamans and Tadelis (2010) could not guarantee organizations' competitive advantages from the aspect of TCT.