12,2 Millionen Bundesbürger sind über 60 Jahre alt. Im Jahre 2000 werden es bereits 14 Millionen sein. Kein Wunder also, dass die Senioren für viele Wirtschaftszweige immer…
Abstract
12,2 Millionen Bundesbürger sind über 60 Jahre alt. Im Jahre 2000 werden es bereits 14 Millionen sein. Kein Wunder also, dass die Senioren für viele Wirtschaftszweige immer interessanter werden. Dies gilt auch für die Tourismusbranche, die mit der wachsenden Reisefreude der älteren Generation rechnen kann. Im vorliegenden Beitrag werden ausgewählte Ergebnisse einer Studie wiedergegeben, die das Institut für Freizeit‐ und Tourismusberatung aus Ettlingen Anfang des Jahres gemacht hatte.
Kangyin Dong, Jianda Wang and Xiaohang Ren
The purpose of this study is to examine the spatial fluctuation spillover effect of green total factor productivity (GTFP) under the influence of Internet development.
Abstract
Purpose
The purpose of this study is to examine the spatial fluctuation spillover effect of green total factor productivity (GTFP) under the influence of Internet development.
Design/methodology/approach
Using panel data from 283 cities in China for the period 2003–2016, this paper explores the spatial fluctuation spillover effect of internet development on GTFP by applying the spatial autoregressive with autoregressive conditional heteroscedasticity model (SARspARCH).
Findings
The results of Moran's I test of the residual term and the Bayesian information criterion (BIC) value indicate that the GTFP has a spatial fluctuation spillover effect, and the estimated results of the SARspARCH model are more accurate than the spatial autoregressive (SAR) model and the spatial autoregressive conditional heteroscedasticity (spARCH) model. Specifically, the internet development had a positive spatial fluctuation spillover effect on GTFP in 2003, 2011, 2012 and 2014, and the volatility spillover effect weakens the positive spillover effect of internet development on GTFP. Moreover, Internet development has a significant positive spatial fluctuation spillover effect on GTFP averagely in eastern China and internet-based cities.
Research limitations/implications
The results of this study provide digital solutions for policymakers in improving the level of GTFP in China, with more emphasis on regional synergistic governance to ensure growth.
Originality/value
This paper expands the research ideas for spatial econometric models and provides a more valuable reference for China to achieve green development.
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Qiang Du, Xiaomin Qi, Patrick X.W. Zou and Yanmin Zhang
The purpose of this paper is to develop a bi-objective optimization framework to select prefabricated construction service composition. An improved algorithm-genetic simulated…
Abstract
Purpose
The purpose of this paper is to develop a bi-objective optimization framework to select prefabricated construction service composition. An improved algorithm-genetic simulated annealing algorithm (GSA) is employed to demonstrate the application of the framework.
Design/methodology/approach
The weighted aggregate multi-dimensional collaborative relationship is used to quantitatively evaluate the synergistic effect. The quality of service is measured using the same method. The research proposed a service combination selection framework of prefabricated construction that comprehensively considers the quality of service and synergistic effect. The framework is demonstrated by using a GSA that can accept poor solutions with a certain probability. Furthermore, GSA is compared with the genetic algorithm (GA), simulated annealing algorithm (SA) and particle swarm optimization algorithm (PSO) to validate the performance.
Findings
The results indicated that GSA has the largest optimal fitness value and synergistic effect compared with other algorithms, and the convergence time and convergence iteration of the improved algorithm are generally at a low level.
Originality/value
The contribution of this study is that the proposed framework enables project managers to clarify the interactions of the prefabricated construction process and provides guidance for project collaborative management. In addition, GSA helps to improve the probability of successful collaboration between potential partners, therefore enhancing client satisfaction.
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Safeer Ullah, Jiang Yushi and Miao Miao
This study aims to inspect the impact of US climate policy uncertainty (CPU) on the economic growth of Asian countries with the moderating role of crude oil price (COP) changes.
Abstract
Purpose
This study aims to inspect the impact of US climate policy uncertainty (CPU) on the economic growth of Asian countries with the moderating role of crude oil price (COP) changes.
Design/methodology/approach
The Im-Pesaran Sin and Fisher-type tests are used for stationarity check, while Kao and Pedroni tests are used for cointegration analysis. The Hausman test is applied for model selection, where pooled mean group autoregressive distributed lag (PMG/ARDL) has been selected and applied. Besides, the fully modified ordinary least squares is also used for robustness analysis. Additionally, the literature review and descriptive statistics have been used.
Findings
The main findings disclosed that US CPU negatively impacted the economic growth of Asian economies with high significance in the long run whereas insignificant in the short run. The results further concluded that COP positively affected economic growth both in the short and long run. Furthermore, the results also revealed that COP significantly and positively moderates the relationship between CPU and COP in the long and short run.
Originality/value
The study is the first of its kind to examine the impact of the US CPU on the economic growth of Asian economies. Second, it further revealed the moderating role of COP between US CPU and economic growth. Third, a large panel of data from Asian countries has been considered. Fourth, the study adds to the current literature by using the PMG/ARDL model to determine the impact of US CPU on economic growth. Additionally, this study focuses on the US CPU because it is a developed country playing a significant role in energy and climate issues, and has been very uncertain.
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Shuang Ren and Ying Zhu
– The purpose of this paper is to explore the contemporary paradigm of business leadership vis-à-vis China’s reform and transitional context.
Abstract
Purpose
The purpose of this paper is to explore the contemporary paradigm of business leadership vis-à-vis China’s reform and transitional context.
Design/methodology/approach
The paper employs an evidence-based approach to explore the business leadership issues influenced by economic reform and within the context of societal transition in China. A qualitative research method was adopted based on in-depth interviews with a number of middle managers from a variety of Chinese enterprises, including state-owned, domestic-private and foreign-invested enterprises. Content analysis of several rounds of interviews added depth to the data analysis.
Findings
The findings complement existing thoughts and illustrate concepts, issues, and characteristics not yet emphasized in mainstream literature. General patterns and associated characteristics of business leadership in China, as well as specific patterns associated with different forms of enterprise ownerships, are identified.
Research limitations/implications
The study makes a timely and necessary contribution that enriches context-specific understandings of business leadership against the backdrop of surrounding economic, social, and cultural changes.
Practical implications
The study enriches understandings of commonalities and differences in leadership across the globe, facilitating working collaboratively to achieve common goals in a global community.
Originality/value
The study offers new insights into business leadership by linking contextual, personal, and cognitional factors together and demonstrates some unique characteristics of leadership styles in transitional economies like China.
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Hao Liang, Luc Renneboog and Sunny Li Sun
We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as…
Abstract
Purpose
We take a state-stewardship view on corporate governance and executive compensation in economies with strong political involvement, where state-appointed managers act as responsible “stewards” rather than “agents” of the state.
Methodology/approach
We test this view on China and find that Chinese managers are remunerated not for maximizing equity value but for increasing the value of state-owned assets.
Findings
Managerial compensation depends on political connections and prestige, and on the firms’ contribution to political goals. These effects were attenuated since the market-oriented governance reform.
Research limitations/implications
Economic reform without reforming the human resources policies at the executive level enables the autocratic state to exert political power on corporate decision making, so as to ensure that firms’ business activities fulfill the state’s political objectives.
Practical implications
As a powerful social elite, the state-steward managers in China have the same interests as the state (the government), namely extracting rents that should adhere to the nation (which stands for the society at large or the collective private citizens).
Social implications
As China has been a communist country with a single ruling party for decades, the ideas of socialism still have a strong impact on how companies are run. The legitimacy of the elite’s privileged rights over private sectors is central to our question.
Originality/value
Chinese executive compensation stimulates not only the maximization of shareholder value but also the preservation of the state’s interests.
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Shima Mousavi and Khashayar Khorasani
A decentralized dynamic neural network (DNN)-based fault detection (FD) system for the reaction wheels of satellites in a formation flying mission is proposed. The paper aims to…
Abstract
Purpose
A decentralized dynamic neural network (DNN)-based fault detection (FD) system for the reaction wheels of satellites in a formation flying mission is proposed. The paper aims to discuss the above issue.
Design/methodology/approach
The highly nonlinear dynamics of each spacecraft in the formation is modeled by using DNNs. The DNNs are trained based on the extended back-propagation algorithm by using the set of input/output data that are collected from the 3-axis of the attitude control subsystem of each satellite. The parameters of the DNNs are adjusted to meet certain performance requirements and minimize the output estimation error.
Findings
The capability of the proposed methodology has been investigated under different faulty scenarios. The proposed approach is a decentralized FD strategy, implying that a fault occurrence in one of the spacecraft in the formation is detected by using both a local fault detector and fault detectors constructed specifically based on the neighboring spacecraft. It is shown that this method has the capability of detecting low severity actuator faults in the formation that could not have been detected by only a local fault detector.
Originality/value
The nonlinear dynamics of the formation flying of spacecraft are represented by multilayer DNNs, in which conventional static neurons are replaced by dynamic neurons. In our proposed methodology, a DNN is utilized in each axis of every satellite that is trained based on the absolute attitude measurements in the formation that may nevertheless be incapable of detecting low severity faults. The DNNs that are utilized for the formation level are trained based on the relative attitude measurements of a spacecraft and its neighboring spacecraft that are then shown to be capable of detecting even low severity faults, thereby demonstrating the advantages and benefits of our proposed solution.
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Abstract
Purpose
The purpose of this paper is to present two efficient immersed boundary methods (IBM) for simulation of thermal flow problems. One method is for given temperature condition (Dirichlet type), while the other is for given heat flux condition (Neumann type). The methods are applied to simulate natural and mixed convection problems to check their performance. The comparison of present results with available data in the literature shows that the present methods can obtain accurate numerical results efficiently.
Design/methodology/approach
The paper presents two efficient IBM solvers, in which the effect of thermal boundary to its surrounding fluid is considered through the introduction of a heat source/sink term into the energy equation. One is the temperature correction‐based IBM developed for problems with given temperature on the wall. The other is heat flux correction‐based IBM for problems with given heat flux on the wall. Note that in this solver, the offset of derivative condition is directly used to correct the temperature field.
Findings
As compared with existing solvers, the temperature correction‐based IBM determines the heat source/sink implicitly instead of pre‐calculated explicitly, so that the boundary condition for temperature is accurately satisfied. To the best of the authors' knowledge, the work of heat flux correction‐based IBM is the first endeavour for application of IBM to solve thermal flow problems with Neumann (heat flux) boundary condition. It was found that both methods presented in this work can efficiently obtain accurate numerical results for thermal flow problems.
Originality/value
The two methods presented in this paper are novel. They can effectively solve thermal flow problems with Dirichlet and Neumann boundary conditions.
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Xiaohang Ren, Shuiling Hu, Xianming Sun and Dan Zhou
This paper investigates the impact of AI penetration rate on the degree of corporate greenwashing and aims to assess the potential of AI in enhancing firms' environmental…
Abstract
Purpose
This paper investigates the impact of AI penetration rate on the degree of corporate greenwashing and aims to assess the potential of AI in enhancing firms' environmental performance and reducing false disclosures.
Design/methodology/approach
This study employs a year and firm fixed-effects model to analyze data from Chinese listed firms from 2012 to 2022. We use the low-carbon city pilot as a quasi-natural experiment to address endogeneity concerns and conduct a series of robustness tests, including adding control variables and transforming the model.
Findings
The results of this paper show that the application of AI can inhibit firms' greenwashing behavior, with green innovation activities further enhancing this inhibitory effect. In state-owned firms and those with Party Organizations, the inhibitory effect of AI on corporate greenwashing is more significant. This reduction in greenwashing is more likely to be observed in firms that are heavily influenced by Confucian culture, receive higher public attention regarding their environmental impact, face less market competition, suffer from more serious pollution and face less financial constraints.
Originality/value
We propose a new research perspective that offers novel insights into promoting the green development of firms by revealing the potential of AI in reducing their greenwashing behavior. Corporate boards can explore specific strategies for applying AI to monitor, prevent and correct greenwashing, thereby enhancing corporate environmental performance and social responsibility.
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Irene Wei Kiong Ting, Wen-Min Lu, Qian Long Kweh and Chunya Ren
This study examines the effect of value-added (VA) intellectual capital on business performance from the perspective of productive efficiency, which is derived from its main…
Abstract
Purpose
This study examines the effect of value-added (VA) intellectual capital on business performance from the perspective of productive efficiency, which is derived from its main contributors, namely, profitability and marketability efficiencies in two stages.
Design/methodology/approach
First, this study applies a dynamic network slacks-based measure in a data envelopment analysis (DEA) approach to estimate productive efficiency and its components of 766 Taiwan listed electronics companies over the period of 2010–2018. Second, this study performs regression analyses of the association between intellectual capital (IC), which is proxied by VA intellectual coefficient (VAICTM) and estimated DEA efficiency scores through various regression techniques.
Findings
Empirical evidence shows a significantly positive association between VAICTM and productive efficiency. This study finds the same result from the IC components after splitting VAICTM into (1) IC efficiency, which comprises human capital efficiency (HCE) and structural capital efficiency and (2) capital employed efficiency. Further examination reveals that HCE is the sole main contributor of the productive efficiency, and profitability and marketability efficiencies of a company.
Practical implications
The findings of this study highlight the need to discuss the values of intellectual coefficient (IC) from the perspective of productive efficiency for better comprehensiveness.
Originality/value
Although previous studies have shown that IC is a contributor of business performance, this study further zooms in VAIC and examines its effect on the efficiency of a company in transforming its inputs into outputs.