Min Du, Frank Kwabi and Tianle Yang
Drawing on three theoretical frameworks, this paper aims to examine the effects of state-owned enterprises (SOEs) and the interaction between SOEs and prior acquisition experience…
Abstract
Purpose
Drawing on three theoretical frameworks, this paper aims to examine the effects of state-owned enterprises (SOEs) and the interaction between SOEs and prior acquisition experience of Chinese domestic and cross-border acquirers.
Design/methodology/approach
Using a sample of 4,116 firms consisting of 3,939 domestic mergers and acquisitions (M&As) and 177 cross-border M&As over the period 2004–2017, this study adopts both accounting- and market-based performance measures, namely, return on assets, return on equity and buy-and-hold abnormal return to analyse the effects of SOEs and the interaction between SOEs and prior acquisition experience on acquirers’ performance.
Findings
First, this paper finds SOEs to exert a positive influence on acquirer performance, contrary to agency theory but in line with the resource-based view. However, the positive relationship between SOEs and performance appears more pronounced for domestic M&A compared to cross-border M&As. Second, this study also finds prior acquisition experience and the combined effect of SOE and prior acquisition experience to have a positive and significant bearing on performance.
Research limitations/implications
The limitation of this study is the lack of cross-border M&A data with all the relevant information compared to domestic M&A. Thus, the cross-border M&A sample appears lower compared to the domestic M&A sample.
Practical implications
The results imply that the moderating role of prior acquisition experience on the relationship between SOEs and performance appears to be crucial for cross-border M&A performance compared to domestic M&A.
Originality/value
The findings of this study show SOEs increase performance, contrary to the widely held view based on agency theory that SOEs are inefficient.
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Agyenim Boateng, Min Du, Yan Wang, Chengqi Wang and Mohammad F. Ahammad
The purpose of this paper is to examine the trends, patterns and the impact of cultural and home country macroeconomic influences on Chinese cross-border mergers and acquisitions…
Abstract
Purpose
The purpose of this paper is to examine the trends, patterns and the impact of cultural and home country macroeconomic influences on Chinese cross-border mergers and acquisitions (CBM&A) as foreign entry strategy for the period of 1998-2011.
Design/methodology/approach
Using three regression models, namely, ordinary least squares, the random effects and fixed effects to examine the impact of home country macroeconomic and cultural factors on CBM&A outflows as an entry mode of Chinese firms. The authors check the robustness of the results using system GMM.
Findings
The findings suggest that CBM&A as a preferred mode of market entry provides a means for obtaining strategic resources to develop competitive advantages for the Chinese emerging market firms. The regression results indicate that home country macroeconomic and cultural variables, including gross domestic product (GDP), liquidity, interest rates, inflation, acquisitions in resource seeking sectors and cultural distance play an important role in explaining the trends of CBM&A outflows by the Chinese firms.
Research limitations/implications
The results imply that government support to emerging market multinational enterprises (EMEs) to acquire strategic assets and economic policies in the home country play an important role in shaping international expansion behaviour of EMEs through CBM&A. The study demonstrates that outward investments of EMEs are partly a function of the level of economic policies and government support at home. The limitation is that most of the Chinese CBM&A transactions took place in Asia/Pacific locations. Future studies appear warranted if new data become available.
Originality/value
The study demonstrates how the institutions, strategic asset seeking with government support and economic policies in the home country play important role in shaping international expansion behaviour of emerging market enterprises through CBM&A thereby contributing to the political economy literature and institutional theory. More importantly, the study shows that the level of economic policies and development such as GDP, money supply, interest rates, inflation of the home country are important for EME growth in the international market.
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Ruizhi Yuan, Ruolan Chen, Bo Huang and Anna Min Du
Drawing on the co-creation literature and self-determination theory, this study takes a broader organisational perspective linking employees’ motivational antecedents (corporate…
Abstract
Purpose
Drawing on the co-creation literature and self-determination theory, this study takes a broader organisational perspective linking employees’ motivational antecedents (corporate brand socialization, employee brand identification and impression management) and employee-based brand co-creation (EBBC), with three employee-level outcomes: sales performance, employee resilience and adaptive selling. We therefore bridge the complex nexus between employees and organisational performance.
Design/methodology/approach
Survey data of 313 employees across industries and different-sized business-to-business (B2B) companies in China were collected. We used AMOS 21 to carry out structural equation modelling (SEM) for testing the main hypotheses.
Findings
The results reveal that EBBC is driven by external, internal and self-related motivations and leads to an increase in the three employee performance-related outcomes. The results further indicate that employees’ social media usage exerts contrasting moderating effects for each of the three motivational antecedents: While it strengthens the effect of employee identification on EBBC, it weakens the effect of corporate brand socialization on EBBC and exerts no effect on the relationship between impression management and EBBC.
Practical implications
This study confirms the effectiveness of EBBC in improving performance outcomes for B2B employees, particularly sales performance, resilience and job satisfaction, all of which are crucial for employee success. On the basis of our findings, in terms of employee satisfaction and performance, and in addition to conventional strategies and incentives, B2B organisations should encourage employee co-creation activities as outlined above, since such activities tend to impact these outcomes positively.
Originality/value
This study features and substantiates the self-related goal initiatives in EBBC, such as developing a sense of self-promotion desires and uncovers a moderator of the relationships between motivational antecedents and EBBC. These findings highlight the managerial relevance of specific motivational and psychological pathways in building employee brand co-creation behaviours, employee outcomes and organisational performance via employee sales.
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Jian Wang, Xinyi Zhang, Min Du, Xueyan Shan and Zhiyu Tian
The purpose of this study is to provide ideas and theoretical guidance for green, environmentally friendly and efficient “bacteriostasis with bacteria” technology.
Abstract
Purpose
The purpose of this study is to provide ideas and theoretical guidance for green, environmentally friendly and efficient “bacteriostasis with bacteria” technology.
Design/methodology/approach
In this paper, a beneficial strain of bacteria was extracted and purified from marine mud. Weight-loss test, morphological observation and electrochemical test were used to systematically study the effect of sulfate-reducing bacteria (SRB)-induced corrosion inhibition on X65 steel in simulated offshore oil field production water.
Findings
The results showed that a beneficial strain was selected and identified as Vibrio alginolyticus. Under the condition of co-culture of SRB, the average corrosion rate of X65 steel was significantly reduced. In the mixed bacterial system, the surface of X65 steel samples was relatively flat, and the structure of biofilm and corrosion product film was dense. The number of corrosion pits, the average diameter and depth of corrosion pits were significantly reduced. The localized corrosion of X65 steel was significantly inhibited.
Originality/value
The complex and changing marine environment makes the corrosion problem of marine steel increasingly severe, and the microbiologically influenced corrosion (MIC) caused by SRB is particularly serious. The research and development of environmentally friendly corrosion protection technology is a long-term and difficult problem. The use of beneficial microorganisms to control MIC is a green and efficient anticorrosion measure. Compared with terrestrial microorganisms, marine microorganisms can adapt to complex environments, and their metabolites exhibit special biological activities. The use of marine beneficial bacteria can inhibit SRB activity to achieve the corrosion inhibition effect.
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Fonds d'intervention culturelle (FIC) Service rattaché au Ministère de la Culture — à fonction interministérielle — géré par un Comité interministériel et destiné à financer des…
Michael O’Regan and Jaeyeon Choe
As its market and society open up, China has transformed itself from a closed agrarian socialist economy to an urban state and an economic force. This has released accumulated…
Abstract
As its market and society open up, China has transformed itself from a closed agrarian socialist economy to an urban state and an economic force. This has released accumulated tourism demand, led to the development of a diversified industry, and the spread of university and vocational courses in this field. However, the industry faces challenges to recruit and retain staff, with tourism education in higher education blamed for the shortfall in numbers and quality of candidates with suitable purpose, knowledge, and passion to serve. This chapter provides a background to the development of and problems facing tourism education in China, and suggests how to support student engagement and hence the future workforce.
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Les découvertes importantes faites par des équipes de préhistoriciens et d'anthropologues entre les an‐nées 1950 – 1970 dans la région du Nil moyen (KENYA,TANZANIE, ETHIOPIE)…
Abstract
Les découvertes importantes faites par des équipes de préhistoriciens et d'anthropologues entre les an‐nées 1950 – 1970 dans la région du Nil moyen (KENYA,TANZANIE, ETHIOPIE), mettant à jour des milliers de fossiles concernant les premiers éges de la vie de l'homme il y a 1 500 000 ans (sites d'Oldu‐vai et d'Omo), nous permettent aujourd'hui de repenser le comportement erratique de nos lointains anctres sur la planète Terre dans une vision beaucoup plus large.
Nuestra Señora de Lujan is situated in Lujan, Province of Buenos Aires. It is visited by about 5.000.000 pilgrims or religious campers (Catholics / Marianists) each year. These…
Abstract
Nuestra Señora de Lujan is situated in Lujan, Province of Buenos Aires. It is visited by about 5.000.000 pilgrims or religious campers (Catholics / Marianists) each year. These particular visitors cause geographical impacts or alterations on different aspects during an important period of the year (September — December). They affect the natural phenomena (by the Lujan River), the historical and cultural heritage, the urban and transportation development, and the religious, economic and social processes. To sum up, we could say that the “senses” of the City are affected.
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Dans la mesure où les prévisions sont la clé de vûte de l'établissement de budgets et de l'application du RCB dans les entreprises, ainsi que de l'élaboration de plans de…
Abstract
Dans la mesure où les prévisions sont la clé de vûte de l'établissement de budgets et de l'application du RCB dans les entreprises, ainsi que de l'élaboration de plans de développement par les administrations publiques, il n'est plus possible de se contenter de déductions globales ou d'intuitions approximatives en guise de pré‐visions.
Xue‐Bin Yang, Xin‐Qiao Jin, Zhi‐Min Du, Tian‐Sheng Cui and Shao‐Kan Yang
The purpose of this paper is to investigate the frictional behavior of polytetrafluoroethylene (PTFE) composites under oil‐free sliding conditions.
Abstract
Purpose
The purpose of this paper is to investigate the frictional behavior of polytetrafluoroethylene (PTFE) composites under oil‐free sliding conditions.
Design/methodology/approach
The friction force and power consumption of pressure packing seals, which were, respectively, made of common filled PTFE, 30 wt% CF (carbon fiber) + PTFE and C/C (carbon/carbon) + PTFE, are studied in a reciprocating oil‐free compressor arrangement. Their coefficient of friction is tested on a block‐on‐ring type tribometer.
Findings
The results indicate that influence of mean sliding velocity on filled PTFE composites is apparently more predominant than the others. The friction force curvilinear path of 30 wt% CF+PTFE is hardly influenced by changing crankshaft turn angle. For C/C+PTFE, the effect of mean piston velocity on friction force is not evident. The results also indicate that the friction coefficient of C/C+PTFE is lower than that of 30 wt% CF+PTFE if their applied normal force exceeds 9.8 N. Furthermore, their variation curve of friction force is little different and the power consumption of C/C+PTFE is slightly higher than that of 30 wt% CF+PTFE.
Research limitations/implications
Neither the effect of real contact area on friction coefficient measured in a tribometer nor the influence of the temperature on friction force and power tested in a compressor is not taken into consideration here.
Practical implications
Owing to its good mechanical performances and frictional behaviors, C/C+PTFE is an optimum and promising material under conditions with sealing pressure up to 10 MPa and sliding velocity exceeding 4.0 m/s.
Originality/value
A novel material called C/C+PTFE is considered to make packing rings for oil‐free reciprocating compressors and its friction behaviour is tested on a refitted compressor.