Yuejin Zhou, K.B. Chuah and Shuping Chen
This paper deals with the modelling of an information system for Chinese herbal medicine manufacturing enterprises, describes its structures and functions, and discusses its…
Abstract
Purpose
This paper deals with the modelling of an information system for Chinese herbal medicine manufacturing enterprises, describes its structures and functions, and discusses its implementation issues.
Design/methodology/approach
A case experience is presented.
Findings
Enterprises within this industry have big differences in production and management process and practice. The implementing plan must consider these differences and have adaptable solutions to fit the firm's conditions. It has been found that the information system model proposed here is feasible and can be used not only in other Chinese herbal medicine manufacturing enterprises, but also in other flow‐process industries.
Originality/value
The issues discussed in this paper are common to many Chinese enterprises today, particularly the small and medium‐sized enterprises. The experience described here provides a useful reference for such enterprises’ venture into technological and management process innovation.
Details
Keywords
The purpose of this paper is to research stochastic dynamic investment games with stochastic interest rate model in continuous time between two investors. The market interest rate…
Abstract
Purpose
The purpose of this paper is to research stochastic dynamic investment games with stochastic interest rate model in continuous time between two investors. The market interest rate has the dynamics of Duffie‐Kan interest rate.
Design/methodology/approach
Recently, there has been an increasing interest in financial market models whose key parameters, such as the bank interest rate, stocks appreciation rates, and volatility rates, are modulated by stochastic interest rate. This paper uses the Duffie‐Kan stochastic interest rate model to develop stochastic differential portfolio games. By the HJB optimality equation, a general result in optimal control for a stochastic differential game with a general utility payoff function is obtained.
Findings
Derive a general result in optimal control for a stochastic differential game with a general utility payoff function. The explicit optimal strategies and value of the games are obtained for the constant relative risk aversion utility games of fixed duration.
Research limitations/implications
Accessibility and availability of stochastic interest rate data are the main limitations, which apply.
Practical implications
The results obtained in this paper could be used as a guide to actual portfolio games.
Originality/value
This paper presents a new approach for the optimal portfolio model under compound jump processes. The paper is aimed at actual portfolio games.
Details
Keywords
Shailendra Singh, Mahesh Sarva and Nitin Gupta
The purpose of this paper is to systematically analyze the literature around regulatory compliance and market manipulation in capital markets through the use of bibliometrics and…
Abstract
Purpose
The purpose of this paper is to systematically analyze the literature around regulatory compliance and market manipulation in capital markets through the use of bibliometrics and propose future research directions. Under the domain of capital markets, this theme is a niche area of research where greater academic investigations are required. Most of the research is fragmented and limited to a few conventional aspects only. To address this gap, this study engages in a large-scale systematic literature review approach to collect and analyze the research corpus in the post-2000 era.
Design/methodology/approach
The big data corpus comprising research articles has been extracted from the scientific Scopus database and analyzed using the VoSviewer application. The literature around the subject has been presented using bibliometrics to give useful insights on the most popular research work and articles, top contributing journals, authors, institutions and countries leading to identification of gaps and potential research areas.
Findings
Based on the review, this study concludes that, even in an era of global market integration and disruptive technological advancements, many important aspects of this subject remain significantly underexplored. Over the past two decades, research has lagged behind the evolution of capital market crime and market regulations. Finally, based on the findings, the study suggests important future research directions as well as a few research questions. This includes market manipulation, market regulations and new-age technologies, all of which could be very useful to researchers in this field and generate key inputs for stock market regulators.
Research limitations/implications
The limitation of this research is that it is based on Scopus database so the possibility of omission of some literature cannot be completely ruled out. More advanced machine learning techniques could be applied to decode the finer aspects of the studies undertaken so far.
Practical implications
Increased integration among global markets, fast-paced technological disruptions and complexity of financial crimes in stock markets have put immense pressure on market regulators. As economies and equity markets evolve, good research investigations can aid in a better understanding of market manipulation and regulatory compliance. The proposed research directions will be very useful to researchers in this field as well as generate key inputs for stock market regulators to deal with market misbehavior.
Originality/value
This study has adopted a period-wise broad-based scientific approach to identify some of the most pertinent gaps in the subject and has proposed practical areas of study to strengthen the literature in the said field.
Details
Keywords
This paper undertakes an extensive and systematic review of the literature on earnings management (EM) over the past three decades (1992–2022). Furthermore, the study identifies…
Abstract
Purpose
This paper undertakes an extensive and systematic review of the literature on earnings management (EM) over the past three decades (1992–2022). Furthermore, the study identifies emerging research themes and proposes future avenues for further investigation in the realm of EM.
Design/methodology/approach
For this study, a comprehensive collection of 2,775 articles on EM published between 1992 and 2022 was extracted from the Scopus database. The author employed various tools, including Microsoft Excel, R studio, Gephi and visualization of similarities viewer, to conduct bibliometric, content, thematic and cluster analyses. Additionally, the study examined the literature across three distinct periods: prior to the enactment of the Sarbanes-Oxley Act (1992–2001), subsequent to the implementation of the Sarbanes-Oxley Act (2002–2012), and after the adoption of International Financial Reporting Standards (2013–2022) to draw more inferences and insights on EM research.
Findings
The study identifies three major themes, namely the operationalization of EM constructs, the trade-off between EM tools (accrual EM, real EM and classification shifting) and the role of corporate governance in mitigating EM in emerging markets. Existing literature in these areas presents mixed and inconclusive findings, suggesting the need for further theoretical development. Further, the study findings observe a shift in research focus over time: initially, understanding manipulation techniques, then evaluating regulatory measures, and more recently, investigating the impact of global accounting standards. Several emerging research themes (technology advancements, cross-cultural and cross-national studies, sustainability, behavioral aspects and non-financial indicators of EM) have been identified. This study subsequent analysis reveals an evolving EM landscape, with researchers from disciplines like data science, computer science and engineering applying their analytical expertise to detect EM anomalies. Furthermore, this study offers significant insights into sophisticated EM techniques such as neural networks, machine learning techniques and hidden Markov models, among others, as well as relevant theories including dynamic capabilities theory, learning curve theory, psychological contract theory and normative institutional theory. These techniques and theories demonstrate the need for further advancement in the field of EM. Lastly, the findings shed light on prominent EM journals, authors and countries.
Originality/value
This study conducts quantitative bibliometric and thematic analyses of the existing literature on EM while identifying areas that require further development to advance EM research.
Details
Keywords
Shuping Zhao, Shuyu Liu, Yuguang Xie, Peiyu Zhou, Wenxing Lu and Yiming Ma
The purpose of this paper is to explore the impact of multidimensional perceived value and perceived pressure on physicians’ continuous intention to use (CIU) online health…
Abstract
Purpose
The purpose of this paper is to explore the impact of multidimensional perceived value and perceived pressure on physicians’ continuous intention to use (CIU) online health communities (OHCs) based on perceived value (PV) theory and conservation of resources (COR) theory.
Design/methodology/approach
This study developed a research model to test the proposed hypotheses, and the proposed model was tested using partial least squares structural equation modelling (PLS-SEM) for which data were collected from 481 physicians with OHC experience using an online survey.
Findings
The empirical results show the following: (1) Physicians’ CIU is influenced by perceived value and perceived pressure, with attitude towards OHCs using (ATU) playing a crucial role in the pathways. (2) Additional value, work pressure, peer pressure and social pressure have a positive impact on CIU, with consultation value, relationship value, work pressure and peer pressure positively influencing CIU through ATU as a mediator. (3) Reputation value has a positive effect on CIU moderated by seniority (online seniority and offline seniority).
Originality/value
This study emphasises the importance of different dimensions of perceived value and perceived pressure in CIU. Meanwhile, we broaden the research scope of PV theory and COR theory and provide inspiration to OHC managers and healthcare institution managers.
Details
Keywords
Peiyu Zhou, Shuping Zhao, Yiming Ma, Changyong Liang and Junhong Zhu
The purpose of this paper is to understand the effect of platform characteristics (i.e. media richness and interactivity) on individual perception (i.e. outcome expectations) and…
Abstract
Purpose
The purpose of this paper is to understand the effect of platform characteristics (i.e. media richness and interactivity) on individual perception (i.e. outcome expectations) and consequent behavioral response (i.e. user participation in online health communities (OHCs)) based on the stimulus-organism-response (S-O-R) model.
Design/methodology/approach
This study developed a research model to test the proposed hypotheses, and the proposed model was tested using partial least squares structural equation modeling (PLS-SEM) for which data were collected from 321 users with OHC experience using an online survey.
Findings
The empirical results show the following: (1) the three dimensions of media richness significantly affect the three outcome expectations, except that richness of expression has no significant effect on the outcome expectation of health self-management competence. (2) Human-to-human interaction significantly affects the three outcome expectations. Moreover, compared with human-to-human interaction, human-to-system interaction has a stronger impact on the outcome expectation of health self-management competence. (3) The three outcome expectations have a significant influence on user participation in OHCs.
Originality/value
This study extends the understanding about how platform characteristics (i.e. media richness and interactivity) motivate user participation in the context of OHCs. Drawing on the S-O-R model, this study reveals the underlying mechanisms by which media richness and interactivity are associated with outcome expectations and by which outcome expectations is associated with user participation in OHCs. This study enriches the literature on media richness, interactivity, outcome expectations and user participation in OHCs, providing insights for developers and administrators of OHCs.
Details
Keywords
The purpose of this paper is to research the optimal portfolio proportion for the optimal investment model and the optimal consumption investment strategies for the optimal…
Abstract
Purpose
The purpose of this paper is to research the optimal portfolio proportion for the optimal investment model and the optimal consumption investment strategies for the optimal consumption investment model under compound‐jump processes.
Design/methodology/approach
Traditionally, the price of risky security or asset is often modeled as geometric Brownian motion. However, the analysis of stock price evolution reveals sudden and rare breaks logically accounted for by exogenous events on information. It is natural to model such behavior by means of a point process, or, more simply, by a Poisson process, which has jumps of constant size occurring at rare and unpredictable intervals. Assume that the price of risky security stock is modeled by a compound‐jump process, the renew process theory is chosen to solve the optimal investment model, the HJB equation is chosen for the optimal consumption investment model.
Findings
Derive the analytical optimal portfolio proportion for the reduction model of optimal investment. The optimal consumption investment strategies are given by some equations for the optimal consumption investment model.
Research limitations/implications
Accessibility and availability of data are the main limitations which model will be applied.
Practical implications
The results obtained in this paper could be used as a guide to actual portfolio management.
Originality/value
The new approach for the optimal portfolio model under compound‐jump processes. The paper is aimed at actual portfolio managers.
Details
Keywords
Jianping Wang, Haifeng Ran, Peng Dai, Shuping Yan, Xingjia Yao, Fengtao Wang and Guizhong Zuo
Herringbone groove thrust bearings are typically used in high-speed, light-load applications, such as spindle motors for hard disk drives. In the past researches, the effect of…
Abstract
Purpose
Herringbone groove thrust bearings are typically used in high-speed, light-load applications, such as spindle motors for hard disk drives. In the past researches, the effect of shaft misalignment was little considered. This study aims to reveal effects of shaft misalignment on the microscopic flow regime in the water-lubricated herringbone groove thrust bearing.
Design/methodology/approach
The liquid film in a thrust herringbone groove bearing was investigated by computational fluid dynamics. The effects of micro-grooves on the flow field were carefully explored. Two-dimensional liquid films at four different sites were examined for obtaining the rich flow field properties.
Findings
The distributions of pressure, temperature and water vapor volume fraction were obtained, the micro hydrodynamic effects were formed by the herringbone grooves and the effects of the shaft misalignment on lubrication and sealing performance could be found.
Originality/value
The influence of misalignment on the herringbone groove thrust bearing performance was investigated in detail. The obtained results could give the reference guideline for the bearing design.
Details
Keywords
Multi‐sensor data fusion (MSDF) is defined as the process of integrating information from multiple sources to produce the most specific and comprehensive unified data about an…
Abstract
Purpose
Multi‐sensor data fusion (MSDF) is defined as the process of integrating information from multiple sources to produce the most specific and comprehensive unified data about an entity, activity or event. Multi‐sensor object recognition is one of the important technologies of MSDF. It has been widely applied in the fields of navigation, aviation, artificial intelligence, pattern recognition, fuzzy control, robot, and so on. Hence, aimed at the type recognition problem in which the characteristic values of object types and observations of sensors are in the form of triangular fuzzy numbers, the purpose of this paper is to propose a new fusion method from the viewpoint of decision‐making theory.
Design/methodology/approach
This work, first divides the comprehensive transaction process of sensor signal into two phases. Then, aimed at the type recognition problem, the paper gives the definition of similarity degree between two triangular fuzzy numbers. By solving the maximization optimization model, the vector of characteristic weights is objectively derived. A new fusion method is proposed according to the overall similarity degree.
Findings
The results of the experiments show that solving the maximization optimization model improves significantly the objectivity and accuracy of object recognition.
Originality/value
The paper studies the type recognition problem in which the characteristic values of object types and observations of sensors are in the form of triangular fuzzy numbers. By solving the maximization optimization model, the vector of characteristic weights is derived. A new fusion method is proposed. This method improves the objectivity and accuracy of object recognition.
Details
Keywords
Shuping Cheng, Lingjie Meng and Lu Xing
The purpose of this paper is to examine the effects of energy technological innovation on carbon emissions in China from 2001 to 2016.
Abstract
Purpose
The purpose of this paper is to examine the effects of energy technological innovation on carbon emissions in China from 2001 to 2016.
Design/methodology/approach
Conditional mean (CM) methods are first applied to implement our investigation. Then, considering the tremendous heterogeneity in China, quantile regression is further employed to comprehensively investigate the potential heterogeneous effect between energy technological innovation and carbon emission intensity.
Findings
The results suggest that renewable energy technological innovation has a significantly positive effect on carbon emission intensity in lower quantile areas and a negative effect in higher quantile areas. Contrarily, fossil energy technological innovation exerts a negative correlation with carbon emission intensity in lower quantile areas and a positive effect on carbon emission intensity in higher quantiles areas.
Originality/value
Considering that energy consumption is the main source of CO2 emissions, it is of great importance to study the impact of energy technological innovation on carbon emissions. However, the previous studies mainly focus on the impact of integrated technological innovation on carbon emissions, ignoring the impact of energy technological innovation on carbon emissions mitigation. To fill this gap, we construct an extended STIRPAT model to examine the effects of renewable energy technological innovation and fossil energy technological innovation on carbon emissions in this paper. The results can provide a reference for the government to formulate carbon mitigation policies.