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This paper aims to investigate the impact of environmental risk on corporate governance through market reaction to bank loan announcements.

Using the establishment of environment court in China as a quasi-natural experiment, this paper adopt the difference-in-differences approach based on listed firms during 2003–2013 to explore the impact of environment court on corporate governance.

This paper find that the environment court would weaken the cumulative abnormal return of loan announcements. Then, this paper confirm that the potential reason is that environment court worsens the interest conflict between majority and minority shareholders. Further, cross-sectional analysis suggests that bank’s supervision, market competition and analyst coverage can alleviate the impact of environment court on corporate governance.

Environment courts intensify firms’ internal interest disputes, thus causing the decrease of corporate governance, which can be observed through the effect of bank loan announcements.

This paper provide reference for environmental policy formulation and implementation, firms’ decision-makings and improving the banking regulatory system.

This paper makes a contribution to the studies about the impact of environment court on firms’ decision-making and investors’ reaction, the impact of external factors on corporate governance and bank loan announcements effect.

The purpose of this paper is to propose a robotic system for percutaneous surgery. The key component in the system, a robotic arm that can manipulate a puncture needle is presented. The mechanical design, the motion control and the force control method of the robotic arm are discussed in the paper.

The arm with an arc mechanism placed on a 3D Cartesian stage is developed as a puncture needle manipulator to locate the position of the needle tip, tune the needle’s posture and actuate the puncture motion under the visual guidance of two orthogonal X-ray images of a patient by a surgeon. A focusing method by using two laser spots is proposed to automatically move the needle tip to a surgery entry point on the skin. A dynamics model is developed to control the position of the needle mechanism and an explicit force control strategy is utilized to perform the needle insertion.

With the surgical system, a surgeon can easily perform puncture operation by taking two orthogonal real-time X-ray images as a visual feedback and accurately navigating the needle insertion. The laser-guided focusing method is efficient in placement of the needle tip. The explicit force control strategy is proved to be effective for holding constant and stable puncture force in experiments.

The robotic arm has an advantage in easy redirection of the needle because the rotation and the translation are decoupled in the mechanism. By adopting simple laser pens and a well-developed kinematics model, the system can handle the entry point, locating task automatically. The focusing method and the force control method proposed in the paper are useful for the present system and could be intuitive for similar surgical robots.

The purpose of this paper is to demonstrate that the sustainable development thought is one good reason why Chinese civilization is continuously developing, and it can be used as a reference for the development of Chinese agriculture today.

The paper employs a historical analysis approach to examine the sustainable thoughts concerning Chinese traditional agriculture, including view of sancai, farming season, fertility, the nature of matters, recycling, and economization.

The results reveal that the nature of Chinese traditional agriculture is akin to ecological agriculture, which is precious heritage for China and the whole world.

The originality of this paper is that it confirms the fundamental reason of the continuous development of Chinese civilization which, based on organization of sustainable development thought, lies in traditional agriculture.

Introduction – As a financial instrument, tax has always been one of the policy support instruments that governments apply to solve problems. The issue of the environment, on the other hand, is a notion that has gained more importance over the past years and governments struggle to create solutions to environmental problems on the global scale. Climate change is one of the most important parts of this issue. Especially in our modern day, as a result of natural disasters, forest fires and landslides, climate change has become a field in which serious political measures should be taken. Although it has become necessary to implement tax as a tool to decrease carbon emissions and to open new fields for works with less carbon emission, the expected/desired results about carbon emissions have not been obtained throughout the world.

Purpose – The aim of this chapter is to examine carbon taxes, which are the tax applied against climate change, and to draw attention to the multiple policy approach in the face of global environmental problems.

Methodology – This chapter, in which qualitative research method is adopted, has descriptive elements. In this context, an evaluation has been put forward in the light of the data obtained from various reports and scientific articles.

Findings – Though tax is indeed considered as an effective political tool among the precautions to be taken, one-dimensional approach might bring along a deadlock in the solution of this problem. In order to improve this approach and the perception towards the environment across society, it is necessary to include other factors that can play an important role in this process such as non-governmental organisations. Consequently, in order to solve the environmental problems which have occurred as a result of human activities, it is essential to minimise the destruction caused by these human activities (although it is not possible to restore it completely). Therefore, a multi-dimensional policy instead of a one-dimensional policy, an environmentally conscious society and state, and cooperation of policy actors on a global scale are basic elements which can play an important role in the solution of the problem.

The purpose of this study is to address the limitations of traditional methods for managing intellectual property rights (IPRs) by proposing a blockchain-based solution. By leveraging blockchain technology and smart contracts, the aim is to create a comprehensive ecosystem that offers advantages such as reduced transaction costs, improved transparency, enhanced security and increased liquidity levels for IP assets.

This paper proposes using blockchain technology to manage intellectual property rights (IPRs) through a smart contract-based ecosystem. It outlines the use of non-fungible tokens (NFTs) on the blockchain to represent IPRs, with smart contracts automating interactions and encoding rules for various processes such as applications, licensing, transfers and royalty distribution. Governance mechanisms, such as decentralized autonomous organizations (DAOs), are employed to allow stakeholders to propose and vote on contract changes, ensuring adaptability. This approach aims to streamline IPR workflows, reduce transaction costs, improve transparency and enhance security.

The findings of this study suggest that implementing a blockchain-based ecosystem for managing intellectual property rights (IPRs) can lead to various benefits. These include reduced transaction costs, improved transparency, enhanced security, increased liquidity levels for IP assets and streamlined automated processes. The use of non-fungible tokens (NFTs) on the blockchain allows for detailed management, valuation and trading of IPRs. Furthermore, simulation results demonstrate the robustness and efficiency of our proposed ecosystem, outperforming traditional IP management systems in terms of transaction speed and cost-effectiveness. These simulations highlight the practical viability of integrating blockchain technology into IP management workflows.

The practical implications of adopting this blockchain-based ecosystem for managing intellectual property rights (IPRs) are significant. By streamlining processes, reducing transaction costs and improving transparency and security, organizations can expedite the protection and commercialization of their IP assets. Additionally, the increased liquidity levels and accessibility of IP assets to investors and financiers can spur innovation and economic growth.

This paper contributes to the field by proposing a novel approach to managing intellectual property rights (IPRs) using blockchain technology and smart contracts. By leveraging non-fungible tokens (NFTs) on the blockchain, the proposed ecosystem offers a more efficient and transparent way of managing IPRs, reducing reliance on costly and opaque traditional methods. The potential benefits include improved efficiency, transparency, security and collaboration in the management and commercialization of IPRs.

It is a crucial issue to eliminate cracks for selective laser melting (SLM) 7xxx series aluminum alloy. This paper aims to study the effect of silicon content on the cracking behavior and the mechanism of eliminating crack of SLMed Al7050 alloy.

Six different silicon contents were added to the Al7050 powder. The crack density and crack count measuring from optical micrographs were utilized to judge the cracking susceptibility. The low melting phases analyzing from Jmatpro and the microstructure observing by EPMA and SEM were used to discuss the mechanism of eliminating the crack.

The cracking susceptibility of SLMed Al7050 alloy decreases with the increase of adding silicon content. When adding silicon, two new low-melting phases appeared: Mg2Si and Al5Cu2Mg8Si6. These low-melting phases offer much liquid feeding along the grain boundary and decrease the cracking susceptibility. Moreover, the grains are obviously refined after adding silicon. The fine grain can increase the total surface area of the grain boundary, which can reinforce the matrix and decrease the cracking susceptibility. High silicon content results in more low-melting phases and fine grains, which decreases the cracking susceptibility.

The investigation results can help to obtain crack-free SLMed Al7050 parts and deep knowledge on eliminating cracking mechanism of high-strength aluminum alloy fabricated by SLM.

Relationships are a critical success factor for business operations across markets with dominant Chinese culture, like Taiwan. The intersection of a high-quality institutional environment and a traditional Chinese cultural background in Taiwan provides a unique setting for exploring different types of relational mechanisms and ensuing renqing practices (i.e. reciprocal exchange of favors with empathy). The purpose of this paper is to examine when, where and how Taiwanese high-performance organizations manage and deploy interorganizational renqing across their business relationship portfolios. Answering these questions can help build a theory of interorganizational renqing and advance interorganizational reciprocity theorization more generally.

This research is motivated by two key research questions. First is related to how renqing givers understand renqing in the context of their organizations and their interorganizational business relationship portfolios. Second, whether organizations prefer a neutral renqing balance, a renqing debt or a renqing surplus is another point of interest. The study is based on interviews with upper echelon elite informants at six high-performing Taiwanese organizations with business relationship portfolios worldwide.

It is found that interorganizational renqing is deployed as a hybrid resource, taking on the functions of both an investment and a type of insurance against risk. Two notable differences between interorganizational and interpersonal renqing are also noted. First, the social exchange norm aspect of renqing points to salient social exchange norms also in interorganizational exchanges. This confirms the importance of understanding not only the regulative and normative dimensions of business relationships, as a type of institution, but also the cognitive dimensions and underlying institutional logics. Second, this study shows that unlike at the interpersonal level, the notion of renqing debt is not common at the interorganizational level – at least not within high-performance organizations with market leader positions.

This study explores interorganizational renqing practices and their strategic deployment through the use of “accessing” and “embedding” relational mechanisms. The study also adds to the poorly understood nature of interorganizational reciprocity and provides support for developing a theory of interorganizational renqing, as a form of interorganizational reciprocity within a Chinese cultural context.

This paper aims to an analytical investigation of a consequent poles (CP) permanent magnet machine, to enhance the accuracy of the predicted air gap flux density and thus of the machine performance.

The machine under study is obtained by the substitution of the poles machines (PMs) that corresponds to south poles, of a conventional surface PM (SPM) machine, by iron pieces of same geometry. First, the analytical model of the air gap flux density generated by a SPM topology is presented. To fit the CP concept, such model has been rearranged based on a virtual SPM machine. Then, an improved prediction of the CP machine air gap flux density is addressed by the incorporation of a south pole rotor correction function.

An improved prediction of the consequent pole PM machines air gap flux density is addressed by the incorporation of a south pole rotor correction function.

The paper proposes an original approach to enhance the prediction of the air gap flux density of consequent pole machines despite the different magnetic permeability of the north and south poles.

Friendships, an important form of people’s everyday relationships with others, have been studied by many scholars from different disciplines. However, there is limited research on friendship in the context of childhood, particularly that of Chinese rural children. This chapter presents findings from an in-depth study on Chinese children’s understandings and experiences of friendships with peers in the context of a rural primary boarding school. Data for this research were collected through an intensive five-month study, using an ethnographic approach, in a rural primary boarding school (given the pseudonym ‘Central Primary School’) in the western area of China in 2016. This chapter discusses parents’ influences on children’s selection of friends, particularly their ‘good’ friends, and their understandings of the functions of making friends in the context of rural China. It unpacks parents’ interventions on children’s friendships by discussing the moralised hierarchical relationship between children and their parents – children are expected to show obedience to parents. Then, it argues that the Confucian-collectivist values construct a relationship between a child’s individual achievement and their family’s collective good, which makes friendship not only an individual issue but also a collective one too.

Hospitality and tourism businesses often face environmental criticism as they rely heavily on natural resources to operate. Therefore, as a recent trend, hospitality companies are trying to adopt an environmentally friendly approach. Thus, this study sought to investigate the determinants of employee intention to engage in environmentally responsible actions in the workplace, drawing on the theory of planned behavior (TPB) and the value-belief norm (VBN) theory.

This study employed the fuzzy-set qualitative comparative analysis (fsQCA) to discover sufficient configurations for predicting employees’ intentions.

The result has provided recipes with an efficient combination of factors that can influence employees’ intention to undertake environmentally responsible behaviors.

This study contributes to the body of knowledge regarding sustainable behavior among employees and sustainability in the travel and hospitality sector. The findings of this research also provide managers and operators of sustainable hospitality businesses with guidance on how to enhance their staff members' environmentally friendly behaviors at work.