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The purpose of this paper is to investigate the mechanism of transmitting economic policy uncertainty (EPU) shocks to capital structure.

The authors adopt a novel approach that bridges the asset pricing implications of EPU and the debt-financing decisions of Chinese firms by introducing a variable “policy-risk-induced equity return” (PRER). PRER is the product of the EPU beta and the EPU shock. Differentiating firms as per the signs of the EPU beta helps to shed light on the deep questions of whether their respective leverage targets and speeds of adjustment are different and how the targets and speeds are determined.

The empirical evidence shows that it is the equity market that channels EPU shocks to capital structure through PRER in China. Firms with positive (negative) EPU betas have PRER impact negatively (positively) the leverage target, conforming to the market-timing theory. EPU and non-policy uncertainty shocks cause the speed of adjustment to change over time. Overall, the intertemporal relation between EPU and leverage is negative. These results are robust to alternative leverage measures and after controlling for non-policy uncertainty shocks and conventional firm characteristics and have implications for academic research, policymaking, market stability, and corporate financing.

This study is the first to probe for, and provide insights into, the underlying reason why EPU impacts capital structure by connecting asset pricing to corporate financing for a large sample of Chinese publicly traded firms.

The paper aims to investigate the long‐run performance of privatised initial public offerings (IPOs) and their effects on the New Zealand share market (NZSE) and the Australian share market (ASX).

The paper examines the relationship between privatisation and share market capitalisation, liquidity and share ownership. The research also evaluates long‐run risk‐return performance of the privatised companies' portfolios.

The analysis reveals that privatisations have significantly increased share market capitalisation and have impacted on the market liquidity. In general, anyone investing in privatised companies' portfolios could have received significantly higher returns than investing in an aggregate market portfolio.

The findings have significant practical implications for individual and institutional investors.

The purpose of this paper is to study the aerodynamic characteristics and uplift force tendencies of pantographs within the operational height span of 1,600–2,980 mm, aiming to offer valuable insights for research concerning the adaptability of pantograph-catenary systems on double-stack high container transportation lines.

Eight pantograph models were formulated based on lines with the contact wire of 6,680 mm in height. The aerodynamic calculations were carried out using the SST k-ω separated vortex model. A more improved aerodynamic uplift force method was also presented. The change rule of the aerodynamic uplift force under different working heights of the pantograph was analyzed according to the transfer coefficients of the aerodynamic forces and moments.

The results show that the absolute values of the aerodynamic forces and moments of the upper and lower frame increase with the working height, whereas those of the collector head do not change. The absolute values of the transfer coefficients of the lower frame and link arm were significantly larger than those of the upper frame. Therefore, the absolute value of the aerodynamic uplift force increased and then decreased with the working height. The maximum value occurred at a working height of 2,400 mm.

A new method for calculating the aerodynamic uplift force of pantographs is proposed. The specifical change rule of the aerodynamic uplift force of the pantograph on double-stack high container transportation lines was determined from the perspective of the transfer coefficients of the aerodynamic forces and moments.

US studies show significant price effects when shares enter or leave an index during index revisions. Studies on other markets generally yield similar results with smaller price reactions. This study aims to examine the price effects resulting from revisions to the Australian S&P/ASX 100 and 300 indices.

The event study methodology is used to examine abnormal price and volume effects around the announcement dates and implementation dates of index revisions.

In contrast with studies on US index changes, this study shows no abnormal returns for additions to or deletions from the S&P/ASX 100 index and only a weak effect for the S&P/ASX 300, which showed a median abnormal return of  + 1.06 per cent on the implementation date for additions and −2.78 per cent for deletions.

These results give a cautionary warning to those who wish to speculate on the changes to index constituents on the Australian market, or other similar markets where the strength of the index effect has not been clearly quantified.

This study adds to the body of knowledge on the index effect by providing Australian evidence.

This study aims to progress scholarly understanding of the staycation phenomenon by examining customer segments and documenting local customers’ attribute preferences.

A stated choice experiment is used to examine customer preferences for staycation package attributes. Latent class discrete choice modeling is deployed to classify customers into market segments based on their preferences. The profile of each segment is enhanced by documenting customer characteristics and consumption styles.

Six prominent market segments are identified using a combination of sociodemographics, consumption styles and staycation attribute preferences. The findings draw on consumer experiences during the COVID-19 pandemic to generate theoretical insights into preferred staycation packages. Empirically, the estimation results from the research framework and choice experimental method demonstrate that staycation market segments exhibit distinct preference structures.

Practitioners and policymakers can incorporate the findings of this study in designing and/or assessing staycation packages. This can ensure differentiated products for defined segments that resonate within local communities through positive word of mouth, thus offering prospective spillovers to visiting friends and relatives.

This is a pioneering study on preference heterogeneity from the customer perspective, with a focus on staycation markets. The findings can encourage and assist hotel sector leaders to capitalize on local market developments to achieve a more resilient hospitality business model.

The purpose of this study is to investigate the effect of catalyst distribution in the combustion catalytic layer on heat and mass transport characteristics of the auto-thermal methanol steam reforming microchannel reactor.

Computational fluid dynamics (CFD) method is used to study four different gradient designs. The corresponding distributions of temperature, species and chemical reaction rate are provided and compared.

The distributions of species, temperature and chemical reaction rate are significantly affected by the catalyst distribution in the combustion catalytic layer. A more uniform temperature distribution can be observed when the gradient design is used. Meanwhile, the methanol conversion rate is also improved.

This work reveals the effect of catalyst distribution in the combustion catalytic layer on heat and mass transport characteristics of the auto-thermal methanol steam reforming microchannel reactor and provides guidance for the design of reactors.

The temperature uniformity and hydrogen production performance can be improved by the gradient design in the combustion catalytic layer.

This paper explores what factors influence household textile washing behaviour and how these factors relate to greenhouse gas emissions during the textile use stage.

A questionnaire survey related to textile summer washing and care behavior was conducted among households in 16 administrative districts of Shanghai. This study used the modified Consumer Lifestyle Approach framework of the washing and care ecosystem. The research hypotheses were established by selecting related factors from four aspects: household demographic characteristics, economy and consumption characteristics, washing machines and detergents characteristics.

First, we have demonstrated how some course factors do not significantly affect greenhouse emissions. None of the demographics, detergent-related activities, economy and consumption constructs significantly affect greenhouse emissions. Second, we have identified that washing machine and related activities has a direct positive effect on GHG emissions. The washing machine is not only the de facto carrier of all washing activities but also the core of washing activities. Washing machine is crucial in reducing greenhouse emissions and adjusting consumer behaviors.

This paper conducts a study related to the washing and care behavior of households in Shanghai. The paper examines the factors influencing household washing behavior and the relationship between these factors and greenhouse gas emissions during the textile use phase.

This study investigated the mediating role of job satisfaction and the moderating role of career growth opportunity in the relationship between public service motivation (PSM) and public employees' turnover intention.

The authors recruited 587 public employees from Yunnan Province, China to test moderation and mediation hypotheses. The authors conducted confirmatory factor analysis to determine the discriminant and convergent validity of the measures of PSM, turnover intention, job satisfaction and career growth opportunity. Finally, the authors carried out bootstrapping to ascertain direct, indirect and conditional indirect effects.

PSM had a negative effect on public employees' turnover intention, but this relationship was partially mediated by job satisfaction. Career growth opportunity moderated the association between job satisfaction and turnover intention. In particular, the indirect effect of PSM on turnover intention through job satisfaction weakened under high career growth opportunities.

The results highlighted the significance of PSM and career growth opportunity in shaping public employees' work-related attitudes and behaviors. Public organizations should consider PSM a key criterion in recruitment and selection and pay more attention to the significance of intervening in career growth to satisfy public employees' psychological needs related to individual career development.

This study contributes to the literature on the disputed link between PSM and turnover intention and uncovered the underlying mechanism through which PSM affects public employees' turnover intention by proposing job satisfaction and career growth opportunity as a mediator and moderator, respectively.

The overall purpose of this research paper largely depends on developing an easy method to synthesis a material suitable for supercapacitor application. This paper includes the synthesis of, α-Co(OH)₂, its structural, elemental and morphological properties and its supercapacitor properties.

Firstly, the electrolyte is prepared using binder free method, then electrodeposition is used to synthesize α-Co(OH)₂ at 2 V. X-ray diffraction (XRD), energy dispersive spectroscopy (EDS) and scanning electron microscope (SEM) are used to study the structural, elemental and morphological characteristics. The supercapacitor properties are investigated by using cyclic voltammetry, charging-discharging graph, stability test and electrochemical impedance spectroscopy (EIS).

Synthesis of α-Co(OH)₂ is a tedious job as the temperature and use of weak base plays an important role. However, throughout electrodeposition, temperature is maintained using a water bath and weak base as the precursor. The presence of nitrate anions shows more interlayer space than that of ß-Co(OH)₂ because of which free diffusion of the electrolyte is possible. Sheets structures are more visible in SEM images. Nanosheet like structure is observed in the film and such kind of structure provide higher surface area and higher specific capacitance. Usually, the surface morphology of cobalt hydroxide shows flower-like, spherical and nanocubes particles. The cross-section of the deposited film and it is found to be approximately 100 µm. In the forward and backward scan, oxidation and reduction peaks are clearly visible. However, such a behavior is reported as stable because of no further peaks of oxidation.

XRD and EDS confirms the growth of α-Co(OH)₂. SEM images shows the porous nature of the film. Specific capacitance and energy density has been estimated at 5 mV s⁻¹ is 780 F g⁻¹ and 82 W h kg⁻¹, respectively. The film was stable for 600 cycles showing 75 per cent capacitance retention. The voltage drop is 0.02 V for 0.5 A cm⁻², indicating low resistance and good conductivity of the film. The specific power is estimated to be 15 W kg⁻¹ for 1 A cm⁻². The value of R_ESR, R_CT, C_DL and W is 4.83 Ohm, 1.273 Ohm, 0.00233 C and 0.717, respectively. Thus indicating α-Co(OH)₂ to be better candidate for supercapacitor applications.

Understanding health experts' online free knowledge contribution behavior is vital for promoting health knowledge and improving health literacy. This study focuses on the spillover effects of different monetary incentive levels on health experts' free knowledge contribution behavior.

In 2016, Zhihu Live and Zhi Hu were launched as two types of paid knowledge products on Zhihu.com, a hybrid knowledge exchange platform. Focusing on the policy impact of launching Zhihu Live and Zhi Hu, this study uses the difference-in-differences model to analyze the heterogeneous spillover effects of high-yield and low-yield monetary incentives on health experts' free knowledge contribution behavior.

In the short term, the high-yield monetary incentive has positive spillover effects on the quantity and quality of free knowledge contribution while the low-yield monetary incentive generates opposite effects. In the long term, the effects of the high-yield monetary incentive remain significantly positive. The effect of the low-yield monetary incentive on the quantity of free knowledge contribution remains significantly negative, but its effect on the quality of free knowledge contribution is not significant.

This study combines theories of reciprocity and resource limitation to study the spillover effects of different monetary incentive levels on health experts' online behavior. The short-term and long-term effects of different monetary incentive levels on health experts' online behavior are also explored.