Search results

Using the behavioural perspective as a theoretical complement of rational models, this paper examines factors that influence the decision of producing organic wines.

Based on a quantitative analysis of 687 wineries belonging to Denomination of Origin in Spain, the authors empirically examine the sequential relationships between manager's personality and winery and institutional level factors, on organic wine production activity and winery export performance.

This paper investigates the direct and indirect sequential relationships between wineries' factors including an organic production activity and two dimensions of export performance, namely: volume-based and value-based performance. The results of a sequential model provide evidence that openness to experience, a manager's personality trait, has a positive causal relationship with organic wine production.

This paper offers richer insights into the factors leading wine production managers to change from conventional to organic production methods. Specifically, the study shows that wine production managers are susceptible to make decisions to whether produce organic wine or not that may not be consistent with the current theoretical models based on economic efficiency (i.e. comparing costs and benefits). Instead, these decisions are, in part, based on their personality traits. Future research could study how the functional attribute affects the willingness to produce organic wines.

This study contributes to a new strategic implication of organic wine production activity and export performance linkage in behavioural and traditional theoretical perspectives. These findings are valuable for policy makers in the wine sector, as they can better inform and guide policies directed to identify organic production support programs.

Portfolio credit derivatives, such as basket credit default swaps (basket CDS), require for their pricing an estimation of the dependence structure of defaults, which is known to exhibit tail dependence as reflected in observed default contagion. A popular model with this property is the (Student's) t-copula; unfortunately there is no fast method to calibrate the degree of freedom parameter.

In this paper, within the framework of Schönbucher's copula-based trigger-variable model for basket CDS pricing, we propose instead to calibrate the full multivariate t distribution. We describe a version of the expectation-maximization algorithm that provides very fast calibration speeds compared to the current copula-based alternatives.

The algorithm generalizes easily to the more flexible skewed t distributions. To our knowledge, we are the first to use the skewed t distribution in this context.

The main theme of this volume is credit risk and credit derivatives. Recent developments in financial markets show that appropriate modeling and quantification of credit risk is fundamental in the context of modern complex structured financial products. Moreover, there is a need for further developments in our understanding of this important area. In particular modeling defaults and their correlation has been a real challenge in recent years, and still is. This problem is even more relevant after the so-called subprime crisis that hit in the summer of 2007. This makes the volume very timely and hopefully useful for researchers in the area of credit risk and credit derivatives.

With the rapid development of the sharing economy in manufacturing industries, manufacturers and the equipment suppliers frequently share capacity through the third-party platform. This paper aims to study influences of manufacturers sharing capacity on the supplier and to analyze whether the supplier shares capacity as well as its influences.

This paper deals with conditions that the supplier and manufacturers share capacity through the third-party platform, and the third-party platform competes with the supplier in equipment sales. Considering the heterogeneity of the manufacturer's earning of unit capacity usage and the production efficiency of manufacturer's usage strategies, this paper constructs capacity sharing game models. Then, model equilibrium results under different sharing scenarios are compared.

The results show that when the production or maintenance cost is high, manufacturers sharing capacity simultaneously benefits the supplier, the third-party platform and manufacturers with high earnings of unit capacity usage. When both the rental efficiency and the production cost are low, or both the rental efficiency and the production cost are high, the supplier simultaneously sells equipment and shares capacity. The supplier only sells equipment in other cases. When both the rental efficiency and the production cost are low, the supplier’s sharing capacity realizes the win-win-win situation for the supplier, the third-party platform and manufacturers with moderate earnings of unit capacity usage.

This paper innovatively examines supplier's selling and sharing decisions considering manufacturers sharing capacity. It extends the research on capacity sharing and is important to supplier's operational decisions.

Anchored in the role of a social arbiter, the purpose of this study is to examine whether and how media coverage has an impact on CEO overconfidence and further explore how media ownership and Confucianism affect the relationship in the Chinese context.

Using a sample of 1,492 Chinese listed companies from 2010 to 2015, the study adopts random effects models to empirically analyze the effect of media coverage on CEO overconfidence and the roles of media ownership and Confucianism.

The paper finds that media coverage is significantly and positively associated with CEO overconfidence, and the positive relationship between media coverage and CEO overconfidence becomes stronger for state-controlled media. What is more, the influence of media coverage on CEO overconfidence is attenuated for those firms located in stronger Confucianism atmosphere. A further analysis reveals that different tenors of media coverage yield asymmetric effects.

The paper provides a new and solid support for the argument that media praise stimulates CEO overconfidence and increases the knowledge about under what conditions CEO overconfidence varies, broadly speaking which fosters the development of upper echelons theory (UET). Meanwhile, the results extend the literature on media effect and information processing. The findings are also beneficial to improve corporate decisions and government regulation on Chinese media systems.

The authors investigated how and when work connectivity behavior after-hours (WCBA) spilled over to cyberloafing, considering ego depletion as a mediator and motivations and workaholism as moderators. This paper aims to discuss the aforementioned objective.

In Study 1, 380 employees participated in a scenario experiment with a 2 × 2 between-subjects design. Studies 2 and 3 involved 483 and 406 employees, respectively in two two-wave surveys.

WCBA was indirectly linked to cyberloafing via ego depletion. However, when WCBA was driven by high autonomous and low controlled motivation, it exerted less influence on ego depletion, thus weakening the mediating effect of ego depletion. Moreover, the association between WCBA and ego depletion was not significant among employees accustomed to excessive work. The indirect effect of ego depletion also operated contingently on the level of excessive work.

The findings shed light on the spillover effects of WCBA, suggesting that WCBA may lead to cyberloafing by depleting resources. However, the influence of WCBA on ego depletion is concealed when employees engage in WCBA autonomously or are habituated to excessive work.

The purpose of this paper is to optimize the key dimensions parameters of the missile suspension structure to ensure the structural fatigue life (>10000 cycles) with the reliability of 0.995.

The design objective is the fatigue life reliability of the structure, while the design variables are the four fatigue‐sensitive dimensions. The nominal stress approach is introduced to predict the fatigue life, and it was verified by comparing with experimental data. The second respond surface method is applied to solve the reliability in a finite element‐supported analysis using software MSC Patran/Nastran. A Sequential quadratic programming (SQP) algorithm is used for structure optimization.

The fillet radius r is the most important factor that influences the fatigue life reliability of the structure. The four optimal dimensions parameters are obtained by a reliability‐based design optimization process with the fatigue life and reliability fulfilling the demands.

The optimal result can be used as the design values for missile suspension structure. The feasibility of the reliability‐based design optimization method is validated for the design of missile suspension structure.

This study aims to evaluate enterprise technology innovation capability in prefabricated construction (PC) from an input-output perspective, using six integrated enterprises in China as cases.

An evaluation system for enterprise technology innovation capability in PC was constructed, including total input, technology output (TO) and project output. All the evaluation indexes were quantified, and the subject and object indexes weights were determined using the fuzzy cognitive map and information entropy, respectively. The final scores and ranks were evaluated through gray relational analysis (GRA) based on the combined weights.

It was found that enterprise technology innovation capability in PC was low in China, with its unbalanced development in different dimensions and the poorest performance in TO, currently.

This research has developed an evaluation system for technology innovation capability in PC at the enterprise level and scientifically quantified all the indexes, which is a breakthrough over existing studies. The GRA model based on the combined weights proposed in this study can be applied to other comparable fields and regions, with its easy operation.

This study aims to promote the anti-disturbance and tracking accuracy performance of the servo systems, in which a modified active disturbance rejection control (MADRC) scheme is proposed.

An adaptive radial basis function (ARBF) neural network is utilized to estimate and compensate dominant friction torque disturbance, and a parallel high-gain extended state observer (PHESO) is employed to further compensate residual and other uncertain disturbances. This parallel compensation structure reduces the burden of single ESO and improves the response speed of permanent magnet synchronous motor (PMSM) to hybrid disturbances. Moreover, the sliding mode control (SMC) rate is introduced to design an adaptive update law of ARBF.

Simulation and experimental results show that as compared to conventional ADRC and SMC algorithms, the position tracking error is only 2.3% and the average estimation error of the total disturbances is only 1.4% in the proposed MADRC algorithm.

The disturbance parallel estimation structure proposed in MADRC algorithm is proved to significantly improve the performance of anti-disturbance and tracking accuracy.