The way to measure the value of an enterprise’s R&D investments remains elusive for theoretical and empirical study on innovation economics. The paper aims to discuss this issue…
Abstract
Purpose
The way to measure the value of an enterprise’s R&D investments remains elusive for theoretical and empirical study on innovation economics. The paper aims to discuss this issue.
Design/methodology/approach
This paper expands the asset-value model pioneered by Griliches (1981) and applies it for the first time to the Chinese stock market to calculate the value of R&D investment instilled by Chinese manufacturing listed companies (CMLCs) from 2003 to 2014.
Findings
The authors find that: the assets-value model can better explain the enterprise value composition of CMLCs; with equal input, the value of R&D is higher than that of tangible assets, and lower than that of organizational assets; compared with the developed countries, the R&D value of CMLCs is lower; and the R&D value of CMLCs saw a downward trend from 2007 to 2014.
Originality/value
Furthermore, by rationally estimating the value of organizational assets and non-tradable shares, and innovatively introducing semi-annual momentum indicators from the perspective of behavioral finance to control the influence of investor sentiment on enterprise value, this paper tries to develop the asset-value model and provides a feasible solution to the problem of measuring the value of Chinese enterprises’ R&D investment.
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Wenyi Xia, Kun Wang and Anming Zhang
This chapter reviews three main issues in the interactions between air transport and high-speed rail (HSR) in China, namely the interaction between low-cost carriers (LCCs) and…
Abstract
This chapter reviews three main issues in the interactions between air transport and high-speed rail (HSR) in China, namely the interaction between low-cost carriers (LCCs) and HSR, HSR speed effect on airlines, and airline–HSR integration. Studies on these three aspects of airline–HSR interactions have yet been well reviewed, and our chapter aims to fill in this gap. In this chapter, we comprehensively survey literature on the topics, especially studies on Chinese markets that have recently witnessed major HSR developments (and have planned further large-scale HSR expansion in the coming years). Our review shows that, first, compared to full-service carriers, LCCs face fiercer competition from HSR. However, the expansion of HSR network in China can be better coordinated with LCC development. Second, HSR speed exerts two countervailing effects on airline demand and price (the “travel-time” effect and “safety” effect, respectively). Specifically, an HSR speed reduction can have a positive effect on airlines due to longer HSR travel time, but a negative effect on airlines due to improved perception on HSR safety. Third, airline–HSR integration can be implemented through cooperation between airlines and HSR operators and through co-location of airports and HSR stations and can have important implications for intermodal transport and social welfare.
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Abstract
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Yonghong Chen, Wenyi Qiu and Mengxia Xiao
With the rise of digital construction, using organizational capabilities to improve project performance in a turbulent environment has become critical for the high-quality…
Abstract
Purpose
With the rise of digital construction, using organizational capabilities to improve project performance in a turbulent environment has become critical for the high-quality development of the construction industry. However, the complex relationships among them remain unclear. Therefore, this study explores these linear relationships under the digital construction mode and reveals the driving mechanism of multi-factor linkage on project performance.
Design/methodology/approach
Data were collected from 263 project participants in digital construction projects in China using a questionnaire. Hypothesis testing was conducted using partial least square structural equation modeling, and the differentiated patterns of project performance formation were revealed through fuzzy-set qualitative comparative analysis.
Findings
Organizational information technology, innovation, coordination, integration management and emergency management capabilities improve project performance. Environmental turbulence is a positive moderator between coordination capabilities and project performance, while other capabilities do not align with environmental turbulence. The research obtained five equivalent configurations for achieving high project performance, such as “capability layout” and “internal driven,” and two paths that lead to non-high project performance. Finally, in contrast to existing studies, we discovered the outstanding contribution of emergency management capabilities to project performance and the auxiliary effect of information technology capabilities.
Originality/value
This study innovatively integrates a dimensional framework of construction project organizations’ capabilities under a digital construction mode and extends the organizational capabilities to the specific and operational capability dimension level. Furthermore, this study opens the “black box” of the influence of organizational capabilities on project performance in environmental turbulence and reveals the differentiated and equivalent configurations for the formation of project performance. The study broadens the theoretical perspective of organizational capabilities on project performance research in the digital context and provides practical enlightenment for guiding the capability configuration of construction project organizations in a turbulent environment. The study broadens the theoretical perspective of organizational capabilities on project performance research in the digital context and provides practical enlightenment for guiding the capability configuration of construction project organizations in a turbulent environment.
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Wenyi Cao, Lu Chen, Rong Tang, Xinyuan Zhao, Anna S. Mattila, Jun Liu and Yan Qin
Based on affective events theory, this research attempted to investigate how negative gossip about organizational change drives employees to experience negative emotions and…
Abstract
Purpose
Based on affective events theory, this research attempted to investigate how negative gossip about organizational change drives employees to experience negative emotions and direct their aggression toward customers.
Design/methodology/approach
We conducted a scenario-based experiment (Study 1) and a multiwave field survey (Study 2) to test our hypotheses.
Findings
The results show that (1) negative emotions mediate the relationship between change-related negative gossip and displaced aggression toward customers; (2) perceived organizational constraints strengthen the relationship between change-related negative gossip and negative emotions; (3) future work self-salience weakens the relationship between change-related negative gossip and negative emotions; and (4) change-related negative gossip has a strengthened (weakened) indirect effect on displaced aggression via negative emotions when employees have high perceived organizational constraints (future work self-salience).
Originality/value
The study expands research on organizational change and displaced aggression and provides practical implications for managing organizational change.
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Hua Song, Siqi Han, Wenyi Liu and Anirban Ganguly
The purpose of this paper is to explore the role of FinTech companies in SCF. The application of digital technology in supply chain activities has facilitated the evolution of…
Abstract
Purpose
The purpose of this paper is to explore the role of FinTech companies in SCF. The application of digital technology in supply chain activities has facilitated the evolution of supply chain finance (SCF) to a new level. However, how financial technology (FinTech) companies promote this evolution has not been thoroughly examined.
Design/methodology/approach
This research used the multiple-case study approach and social network analysis method to explore how FinTech companies influence SCF networks.
Findings
The results reveal that FinTech companies play the crucial role of a signaling intermediary by facilitating interactions among relevant parties, accelerating the flow of information and reducing information asymmetry arising from data smog. Moreover, FinTech companies make SCF information networks more equitable and promote the performance of SCF.
Originality/value
This study deepens the conversation at the nexus of signal theory and SCF and provides managerial implications for alleviating information asymmetry between borrowers and lenders to solve the difficulty and high-cost problems of obtaining financing of small- and medium-sized enterprises.
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Wenyi Cheng, Ruwen Tian and Dickson K.W. Chiu
As independent travel has become increasingly popular in recent years, factors influencing users’ attitudes and behaviors should be explored. Besides, the rise of video platforms…
Abstract
Purpose
As independent travel has become increasingly popular in recent years, factors influencing users’ attitudes and behaviors should be explored. Besides, the rise of video platforms like YouTube, Bilibili and TikTok has led to the flourishing of user generated content (UGC), among which travel vlogs have become convenient and essential references for tourists before and while they travel on their own.
Design/methodology/approach
This research used quantitative analysis through a survey designed for young people, as most vlog viewers are in those age groups, to explore the attitudes and perceptions of vlog preference, attitudes and cognizance of travel vlogs among different gender, guided by the decision-making theory and preference theory with 455 participants.
Findings
Survey results showed that both genders have common choices regarding travel vlog preference, attitudes, sharing and cognizance. Yet, gender differences appear in some cognition of travel vlogs and specific preferences, such as information searching habits, trusty travel and information sources.
Originality/value
Existing studies focus on the influence of platforms on users, but scant studies focus on user perceptions of vlogs as a new information carrier for young people in East Asia, especially regarding gender differences, which is crucial in media-based marketing. This research provides practical suggestions to marketers and vloggers to attract and engage different genders of young people and theoretical implications on decision and preference theories.
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Xiaohong Lu, Zhenyuan Jia, Hua Wang, Likun Si, Yongyun Liu and Wenyi Wu
– The paper aims to study the wear and breakage characteristics of coated carbide cutting tools through micro-milling slot experiments on superalloy Inconel 718.
Abstract
Purpose
The paper aims to study the wear and breakage characteristics of coated carbide cutting tools through micro-milling slot experiments on superalloy Inconel 718.
Design/methodology/approach
During the micro-milling process, the wear and breakage appearance on the rake face and flank face of the cutting tools, as well as the failure mechanism, have been studied. Furthermore, the wear and breakage characteristics of the micro-cutting tools have been compared with the traditional milling on Inconel 718.
Findings
The main failure forms of the micro tool when micro-milling Inconel 718 were tool tip breakage and coating shed on the rake and flank faces of the cutting tool and micro-crack blade. The main causes of tool wear were synthetic action of adhesive abrasion, diffusion wear and oxidation wear, while the causes of abrasive wear were not obvious.
Practical implications
The changing trend in tool wear during the micro-milling process and the main reasons of the tool wear are studied. The findings will facilitate slowing down the tool wear and prolonging the tool life during micro-milling Inconel718.
Originality/value
The results of this paper can help slow down the tool wear and realize high efficiency, high precision and economical processing of small workpiece or structure of the nickel-based superalloy.
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Yanqiu Xia, Wenyi Zhang, Zhengfeng Cao and Xin Feng
This paper aims to explore the leaf-surface wax as green lubricant additive and compare the tribological properties between coastal and inland leaf-surface waxes of the same…
Abstract
Purpose
This paper aims to explore the leaf-surface wax as green lubricant additive and compare the tribological properties between coastal and inland leaf-surface waxes of the same species plant.
Design/methodology/approach
The leaf-surface waxes were extracted from the leaves of Robinia pseudoacacia cv. Idaho and Populus nigra in coastal and inland areas, and then the compositions of the four kinds of leaf-surface waxes were characterized using a gas chromatography–mass spectrometry. The tribological properties of these leaf-surface waxes as lubricant additives in the base oil of synthetic ester (SE) were investigated by an MFT-R4000 reciprocating friction and wear tester. As well as the surface morphologies and chemical compositions of the wear scars were characterized by a scanning electron microscope and time-of-flight secondary ion mass spectrometry, respectively.
Findings
The results indicate that all the leaf-surface waxes as additives can effectively improve the friction reduction and anti-wear performances of SE for steel–aluminum friction pairs. Therein, coastal leaf-surface waxes have better tribological performances than inland leaf-surface waxes, which are attributed to that the leaf-surface waxes extracted from coastal plants can form a better protective film on the worn surface throughout the friction process.
Originality/value
This paper investigated a new kind of environmentally friendly lubricant additive and compared the tribological properties of the leaf-surface wax extracted from coastal and inland plants. The associated conclusions can provide a reference to explore the tribological performances of leaf-surface wax as green lubricant additive.
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Yingping Hong, Ting Liang, Pinggang Jia, Wenyi Liu, Qiulin Tan, Chen Li, Tingli Zheng, Binger Ge and Jijun Xiong
Physical contact and traditional sensitive structure Physical contact and traditional pressure-sensitive structures typically do not operate well in harsh environments. This paper…
Abstract
Purpose
Physical contact and traditional sensitive structure Physical contact and traditional pressure-sensitive structures typically do not operate well in harsh environments. This paper proposes a high-temperature pressure measurement system for wireless passive pressure sensors on the basis of inductively coupled LC resonant circuits.
Design/methodology/approach
This paper begins with a general introduction to the high-temperature pressure measurement system, which consists of a reader antenna inductively coupled to the sensor circuit, a readout unit and a heat insulation unit. The design and fabrication of the proposed measurement system are then described in detail.
Findings
A wireless passive pressure sensor without an air channel is fabricated using high-temperature co-fired ceramics (HTCC) technology and its signal is measured by the designed measurement system. The designed heat insulation unit keeps the reader antenna in a safe environment of 159.5°C when the passive sensor is located in a 900°C high-temperature zone continuously for 0.5 h. The proposed system can effectively detect the sensor’s resonance frequency variation in a high bandwidth from 1 to 100 MHz with a frequency resolution of 0.006 MHz, tested from room temperature to 500°C for 30 min.
Originality/value
Expensive and bulky equipment (impedance analyzers or network analyzers) restrict the use of the readout method outside the laboratory environment. This paper shows that a novel readout circuit can replace the laboratory equipment to demodulate the measured pressure by extracting the various sensors’ resonant frequency. The proposed measurement system realizes automatic and continuous pressure monitoring in a high-temperature environment with a coupled distance of 2.5 cm. The research finding is meaningful for the measurement of passive pressure sensors under a wide temperature range.