Jiaqi Lu, Shijun Liu, Lizhen Cui, Li Pan and Lei Wu
A fundamental problem for intelligent manufacturing is to equip the agents with the ability to automatically make judgments and decisions. This paper aims to introduce the basic…
Abstract
Purpose
A fundamental problem for intelligent manufacturing is to equip the agents with the ability to automatically make judgments and decisions. This paper aims to introduce the basic principle for intelligent crowds in an attempt to show that crowd wisdom could help in making accurate judgments and proper decisions. This further shows the positive effects that crowd wisdom could bring to the entire manufacturing process.
Design/methodology/approach
Efforts to support the critical role of crowd wisdom in intelligent manufacturing involve theoretical explanation, including a discussion of several prevailing concepts, such as consumer-to-business (C2B), crowdfunding and an interpretation of the contemporary Big Data mania. In addition, an empirical study with three business cases was conducted to prove the conclusion that our ideas could well explain the current business phenomena and guide the future of manufacturing.
Findings
This paper shows that crowd wisdom could help make accurate judgments and proper decisions. It further shows the positive effects that crowd wisdom could bring to the entire manufacturing process.
Originality/value
The paper highlights the importance of crowd wisdom in manufacturing with sufficient theoretical and empirical analysis, potentially providing a guideline for future industry.
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Xudong Lu, Shipeng Wang, Fengjian Kang, Shijun Liu, Hui Li, Xiangzhen Xu and Lizhen Cui
The purpose of this paper is to detect abnormal data of complex and sophisticated industrial equipment with sensors quickly and accurately. Due to the rapid development of the…
Abstract
Purpose
The purpose of this paper is to detect abnormal data of complex and sophisticated industrial equipment with sensors quickly and accurately. Due to the rapid development of the Internet of Things, more and more equipment is equipped with sensors, especially more complex and sophisticated industrial equipment is installed with a large number of sensors. A large amount of monitoring data is quickly collected to monitor the operation of the equipment. How to detect abnormal data quickly and accurately has become a challenge.
Design/methodology/approach
In this paper, the authors propose an approach called Multiple Group Correlation-based Anomaly Detection (MGCAD), which can detect equipment anomaly quickly and accurately. The single-point anomaly degree of equipment and the correlation of each kind of data sequence are modeled by using multi-group correlation probability model (a probability distribution model which is helpful to the anomaly detection of equipment), and the anomaly detection of equipment is realized.
Findings
The simulation data set experiments based on real data show that MGCAD has better performance than existing methods in processing multiple monitoring data sequences.
Originality/value
The MGCAD method can detect abnormal data quickly and accurately, promote the intelligent level of smart articles and ultimately help to project the real world into cyber space in CrowdIntell Network.
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A majority of the loan products produced by modern financial intermediaries (e.g., banks) provide borrowers with an option to prepay loans. The institutions issuing these products…
Abstract
A majority of the loan products produced by modern financial intermediaries (e.g., banks) provide borrowers with an option to prepay loans. The institutions issuing these products typically retain much of this prepayment exposure on their balance sheets. This article develops and applies a general framework to match funding to the prepayment‐sensitivity of assets, in order to preserve spread and achieve a more stable return profile.
Shijun Huang, Pengcheng Du and Yu Hong
With the continuous deepening of China's mixed-ownership reform, the participants in the reform have gradually expanded from state-owned enterprises to private enterprises…
Abstract
Purpose
With the continuous deepening of China's mixed-ownership reform, the participants in the reform have gradually expanded from state-owned enterprises to private enterprises. Whether state-owned equity participation in private enterprises can facilitate the development of environmental, social and governance (ESG) performance in private enterprises is a question that needs urgent examination. This study aims to investigate the impact of state-owned equity participation on the ESG performance of private enterprises.
Design/methodology/approach
Using Chinese listed companies as the research sample, this study uses econometric methods such as multiple regression to analyze the relationship between state-owned equity and the ESG performance of private enterprises. Additionally, it explores the underlying mechanisms and influencing factors of this relationship.
Findings
There is a significant inverted U-shaped relationship between state-owned equity and the ESG performance of private enterprises. Mechanism analysis reveals that resource effects and governance effects play a mediating role in this nonlinear relationship. Furthermore, the authors find that environmental regulation and managers' attention to the environment positively moderate the relationship between state-owned equity participation and ESG performance.
Practical implications
A reasonable equity structure is crucial for enhancing corporate ESG performance. Moderate state-owned equity participation helps to leverage resource integration and governance advantages, which will assist private enterprises in maximizing ESG performance and achieving sustainable development.
Social implications
In advancing the process of mixed-ownership reform, the government should maintain an appropriate proportion of state-owned equity to avoid excessive intervention in enterprise decision-making. At the same time, it should ensure that enterprises can genuinely undertake their social and environmental responsibilities while pursuing economic benefits. This is of great significance for promoting sustainable economic and social development.
Originality/value
This study integrates state-owned equity, ESG and nonlinear relationships into a single research framework. It explores the internal mechanisms and influencing factors of their relationship, overcoming the limitations of previous studies and provides a new perspective for understanding the impact of state-owned equity on corporate ESG performance.
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Ming Gao, Qiankun Gu, Shijun He and Dongmin Kong
Does the history of the bureaucratic system, along with the establishment of the Great Wall during the Ming and Qing dynasties (1368–1911), affect firm behavior across the…
Abstract
Purpose
Does the history of the bureaucratic system, along with the establishment of the Great Wall during the Ming and Qing dynasties (1368–1911), affect firm behavior across the borderlands of the Great Wall?
Design/methodology/approach
The Ming and Qing dynasties built a centralized administrative system in the borderlands on the south side of the Great Wall, in contrast to the “feudal lordship” system on the north side. Employing a regression discontinuity analysis framework with the Great Wall as a geographical discontinuity, we examine the long-run effects of the Great Wall on firms’ earnings management.
Findings
Using a large sample of nonlisted firms in the central core frontier region, we show that the earnings management of firms in the region south of the Great Wall is significantly curtailed compared with firms in the north of it, and this effect is more pronounced for non-SOEs. Our findings are robust to a battery of tests to account for alternative explanations.
Practical implications
Overall, by emphasizing the role of institutions, like legal system, shaped in history on firms’ earnings management, this study sheds new light on institutional determinants of firms’ behaviors in earnings information disclosure.
Originality/value
First, we enrich our understanding of the institutional determinants of firms’ financial reporting outcomes. Second, our findings shed new light on the long-term effects of historical ruling styles on modern corporate behavior.
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Qiliang Wang, Xulong Shao, Dagang Wang, Shijun Wei, Jinyuan Kang and Jun Wang
The purpose of this study is to investigate the influence of geometric parameters of removable panels on the sealing characteristics of ceramic wafer seal structure subjected to…
Abstract
Purpose
The purpose of this study is to investigate the influence of geometric parameters of removable panels on the sealing characteristics of ceramic wafer seal structure subjected to high-temperature gas flow.
Design/methodology/approach
Based on the laminar flow Reynolds equation, the theoretical and numerical calculation models were constructed to investigate the influence of external convex deformation of removable panel on leakage rate. The theoretical formula for leakage rate after deformation of the removable panel was derived, and the flow field and leakage characteristics of ceramic wafer seal under different operating parameters were studied.
Findings
The leakage rate exhibits consistent trends between theoretical calculation, numerical simulation and experimental value, with a maximum discrepancy of 8.9%. This validates the accuracy of both the theoretical model and numerical simulation. As the deformation angle of the removable panel increases, the sealing gap gradually widens, resulting in a compromised sealing effect. Moreover, the leakage rate in the central region of the sealing area is lower compared to that at both ends.
Originality/value
The leakage of the ceramic wafer seal structure under the removable panel with different deformation angles can be monitored based on Reynolds equation. The pseudo-transient numerical calculation method can be used to determine the leakage value of the micro-state ceramic wafer seal structure. These research findings provide a theoretical foundation and numerical investigation approach for studying ceramic wafer seal structures.
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Dan Liu, Tiange Liu and Yuting Zheng
By studying the green development efficiency (GDE) of 33 cities in the provinces of Jiangsu, Zhejiang, and Fujian in China, this study strives to conduct an analysis of the…
Abstract
Purpose
By studying the green development efficiency (GDE) of 33 cities in the provinces of Jiangsu, Zhejiang, and Fujian in China, this study strives to conduct an analysis of the sustainable practices implemented in these developed regions, and derive valuable insights that can foster the promotion of green transformation.
Design/methodology/approach
First, the urban green development system (GDS) was decomposed into the economic benefit subsystem (EBS), social benefit subsystem (SBS), and pollution control subsystem (PCS). Then, a mixed network SBM model was proposed to evaluate the GDE during 20152020, with Moran’s I and Bootstrap truncated regression model subsequently applied to measure the spatial characteristics and driving factors of efficiency.
Findings
Subsystem efficiency presents a distribution trend of PCS > EBS > SBS. There is a particular spatial aggregation effect in EBS efficiency, whereas SBS and PCS efficiencies have no significant spatial autocorrelation. Furthermore, urbanization level contributes significantly to the efficiency of all subsystems; industrial structure, energy consumption, and technological innovation play a crucial role in EBS and SBS; external openness is a pivotal factor in SBS; and environmental regulation has a significant effect on PCS.
Originality/value
This study further decomposes the black box of GDS into subsystems including the economy, society, and environment. Additionally, by employing a mixed network SBM model and Bootstrap truncated regression model to investigate efficiency and its driving factors from the subsystem perspective, it endeavors to derive more detailed research conclusions and policy implications.
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Teng Shao, Hong Jin and Lihua Zhao
According to the survey and measurement on rural housing in the Northeast severe cold regions of China, this paper analyzed the existing situation and problems of current rural…
Abstract
According to the survey and measurement on rural housing in the Northeast severe cold regions of China, this paper analyzed the existing situation and problems of current rural housing in terms of integral development, functional layout, envelop structure, interior thermal environment, heating system and energy utilization etc.. Based on the climatic features of severe cold regions, as well as rural financial and technical conditions, living and production mode, residential construction characteristics and existing resource status etc., the feasible approaches of achieving building energy saving has been proposed, thus acting as a guidance for new rural housing design in severe cold regions.
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Jinyu Yang, Bin Liu and Lihua Yuan
This paper comes to the point from the tax competition of local government in investment promotion and capital introduction. This paper aims to empirically examine the internal…
Abstract
Purpose
This paper comes to the point from the tax competition of local government in investment promotion and capital introduction. This paper aims to empirically examine the internal mechanism of enterprises obtaining land resources from local government and its resulting equity investment increase and economic consequences of overinvestment.
Design/methodology/approach
The data of China’s A-share listed companies from 2007 to 2014 were used to test the relationship between the increase in enterprise equity investment and the acquisition of land resources and overinvestment. The descriptive statistics, correlation analysis and least squares linear regression were used to solve the above question.
Findings
One of the reasons for the enterprise equity increase is to obtain scarce land resources. The enterprise acquisition for land resources leads to overinvestment. The equity investment increase from obtaining land resources will further stimulate enterprise group to overinvest.
Research limitations/implications
The authors could not get the actual data of land that subsidiaries have obtained directly. In this research, the authors get the data using consolidated statements and subsidiary statements indirectly.
Practical implications
The results make contributions to the influencing factors and economic consequence of the enterprise investment structural deviation.
Social implications
It provides reference to optimize the “interaction” relationship between government and enterprises.
Originality/value
It identified the “dual-channel” conduction mechanism between land resource acquisition and enterprise overinvestment.
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Haitao Wu, Shijun Ding and Guanghua Wan
The purpose of this paper is to apply a poverty level decomposition approach to decompose the poverty by income sources and investigate the impact of government transfers on…
Abstract
Purpose
The purpose of this paper is to apply a poverty level decomposition approach to decompose the poverty by income sources and investigate the impact of government transfers on income inequality and rural poverty.
Design/methodology/approach
This paper uses the decomposition method of inequality and the decomposition method of poverty level by resource endowments to decompose the overall inequality and the overall poverty by income sources.
Findings
It is found that unequal income distribution rather than income endowments is mainly responsible for the existence of poverty. Government transfers and relief income, aiming at the poor, help alleviate inequality and poverty, but are not targeting the poorest. Unequal distribution of production subsidies actually lead to higher poverty incidence.
Research limitations/implications
This paper has revealed that the poverty issue cannot be resolved with economic development alone if the issues including the inequality in income distribution are not solved. It is important to make government transfers/subsidies pro-poor.
Originality/value
A poverty level decomposition approach is first used to decompose the poverty by income sources in China.