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This study aims to investigate the effect of top management team (TMT) stability on outward foreign direct investment (OFDI) of Chinese firms and the moderating effects of state ownership and managerial ownership on this relationship.

An empirical analysis based on the ordinary least square regression model is conducted using Chinese A-share listed firms that engaged in OFDI from 2008 to 2021.

TMT stability has a positive effect on firms’ OFDI. Moreover, state ownership significantly strengthens the positive relationship between TMT stability and OFDI, while managerial ownership weakens this positive relationship.

The findings help firms to effectively retain TMT talents and promote the smooth internationalization of firms, thereby enhancing their long-term development capabilities and competitive advantages.

This study expands the investigation of the factors influencing OFDI at the micro level of the TMT, providing valuable decision-making insights for firms.

Existing research suggests a positive relationship between firms’ research and development investments (RDIs) and their patenting performance (PP) according to assumptions of linear productivity and homogeneous behavior. This study unravels the RDI–PP relationship by taking a strategic view to reveal its underlying mechanisms.

We study the effects of firms’ RDI on PP in the context of China’s listed firms in 16 patent-intensive industries, including the pharmaceutical, computer communication, electronic equipment and electrical machinery and equipment manufacturing industries. To test our hypotheses, we use panel data from 2010 to 2017. We apply generalized estimating equations to estimate our models.

The study finds an inverted U-shaped relationship between RDI and PP that arises from the transition of innovation portfolios and the strategic balancing of patenting costs and benefits. The study further examines two contingencies: (1) top management team (TMT) education level and (2) TMT compensation. It shows the turning point of the inverted U-shape shifts to the right when TMT education level is high; the curve flattens when TMT education level and TMT compensation are high.

We contribute to literature on innovation and appropriability strategy in three ways: First, we reveal the underlying mechanisms of the inverted U-shaped relationship between RDI and PP. Second, because previous research on appropriability strategies pays little attention to how innovation portfolios influence patenting decisions at the firm level, we provide evidence and insights on how the tension between exploitative and explorative innovations affects appropriability strategies. Third, we connect appropriability strategy literature with two streams of literature: corporate governance and upper-echelon theory.

The purpose of this study is to investigate the impact of the negative expectation–performance gap on the internationalization speed as well as the moderating role of organizational slack, based on the performance feedback theory and the springboard perspective.

This paper takes the Chinese A-share listed companies engaged in outward foreign direct investment (OFDI) between 2010 and 2022 as the research sample. A two-way fixed effects model is employed to test the research hypotheses, using a dataset comprising 6,868 observations.

The findings show that there is a positive relationship between the negative expectation–performance gap and internationalization speed for Chinese multinational enterprises (CMNEs). In addition, this effect is stronger in private CMNEs. Furthermore, the relationship is negatively moderated by organizational slack. Additional findings suggest that that negative industry expectation-performance gap has a stronger impact on the internationalization speed. The moderating effect of unabsorbed slack resources is more pronounced.

When emerging market multinational enterprises (EMNEs) face the dilemma of underperforming, they may consider a rapid internationalization strategy as a solution to improve performance. However, EMNEs should be wary of falling into a resource trap. Organizational slack reduces managers’ incentives to identify issues associated with negative performance feedback, thereby diminishing the likelihood of addressing performance challenges through rapid internationalization. For state-owned EMNEs, optimizing organizational structure and improving the efficiency of responses to negative performance feedback are essential.

Unlike previous studies, this paper integrates performance feedback theory and the springboard perspective to explore in depth the relationship between performance feedback, internationalization speed and organizational slack within the context of managers’ cognitive and decision-making mechanisms. It also examines the distinct impacts of historical and industry negative expectation–performance gaps as well as the different moderating roles of absorbed and unabsorbed organizational slack, which have not been explored together before.

According to the resource-based theory, a firm’s unique resources and capabilities are the key to its competitive advantage. This paper aims to investigate the effect of top management team (TMT) stability, an important intangible resource of the firm, on the maturity mismatch between investment and financing of companies. Additionally, we explore the moderating effects of state ownership and institutional ownership in this context.

This study conducts an empirical analysis based on the ordinary least squares (OLS) model with a sample of Chinese companies listed on the Shanghai and Shenzhen stock exchanges from 2010 to 2022.

The results show that TMT stability significantly mitigates the degree of maturity mismatch. Both state ownership and institutional ownership weaken the negative effect of TMT stability on maturity mismatch. Besides, alleviating financing constraints is a crucial pathway through which TMT stability influences maturity mismatch.

The findings help firms to effectively retain TMT talents and reduce the occurrence of maturity mismatch.

This paper not only helps to expand the research on the economic effects of TMT stability but also provides new ideas on how to alleviate the maturity mismatch of companies.

This paper examines whether technological changes that promote communications between investors and managers help bridge the gap in the cost of equity capital among firms in different regions.

We use the online interaction platforms of listed firms in China and utilize brokerage presence (BP) to capture the geographic distribution of financial factors. We explore whether online interactions would reduce the cost of equity to a greater extent for firms located in low brokerage presence regions (hereafter “low-BP firms”) than those in high brokerage presence regions (hereafter “high-BP firms”).

We find low-BP firms benefit more from an improved information environment created by online interactions. We also find that posts about low-BP firms are more value-relevant and useful in processing corporate disclosures. Further, a higher number of interactions significantly enhances more informational efficiency for low-BP firms, and the effect of reducing the gap in financing costs is more pronounced when corporate information is complex.

We conclude that online interactions alleviate geography-induced information frictions and create a relatively level playing field for firms located in all regions.

This study aims to investigate the factors affecting urban economic development in emerging economic market countries and to provide a new research perspective on urban skyscraper construction.

An empirical analysis based on a difference-in-differences (DID) model is conducted using data of urban data in China that expand into developed markets from 2003 to 2018.

The results of the spatial heterogeneity test indicate that the construction of skyscrapers has a significant promotional effect on the eastern city's economy. In contrast, it has a significant inhibitory effect in the central and western regions. Further findings demonstrate that the construction of skyscrapers can influence urban economic development by promoting industrial agglomeration, especially when the transmission effect of the diversified accumulation of tertiary industry is more prominent. The expansion analysis shows that skyscrapers have increased the level of trade in the city, and the impact on trade has an optimal height.

This paper focuses on the economic and trade effects of skyscrapers, and the optimal height of skyscrapers needs to be discussed in more depth, which is also the next problem the researchers need to study.

The government should attach importance to and promote the construction of urban skyscrapers, and do a good job in overall planning and design. The city should formulate preferential policies in land, taxation, finance, system and other aspects to increase support for urban skyscraper construction and promote local economic development.

This study focuses on the impact of urban skyscraper construction on the economic and trade development of cities in developing countries, which not only complements the relevant research on the economic effects of urban skyscraper construction, but also helps to provide reference for the sustainable development of urbanization in many developing countries.

This study investigates the effect of ownership structure – ownership concentration and firm ownership – on outward foreign direct investment (OFDI) by emerging market multinational enterprises (EMNEs), and further explores the moderating effects of international experience and migrant networks on this relationship.

Data of Chinese MNEs listed on Shenzhen and Shanghai stock exchanges between 2005 and 2016 are used. The empirical analysis is based on the negative binomial regression model.

The empirical results reveal a significant inverted-U relationship between ownership concentration and OFDI by EMNEs. State ownership is found to have a positive effect on OFDI by EMNEs. Both international experience and migrant networks strengthen the inverted-U relationship between ownership concentration and OFDI as well as the positive effect of state ownership on OFDI by EMNEs.

EMNEs need to maintain a moderate ownership concentration when conducting OFDI, and they are supposed to make full use of their own international experience and focus on migrant networks of the host country. Policy-makers in emerging economies need to better create a fair business environment for enterprises.

Combining agency theory and the resource-based view, this study integrates ownership structure, firm-level heterogeneous resources – international experience and country-level heterogeneous resources – migration networks into a framework to study OFDI by EMNEs, which expands the scope of research in international business.

This paper aims to focus on the preparation of Kevlar fiber (KF) and alkaline hydrolyzed KF (KF-H) to improve the dispersed condition of polyaniline (PAn), as the aggregation of PAn would lead to some adsorption sites buried. And then the materials were used to enrich anionic dye Congo red (CR) from aqueous solution.

The materials (KF@PAn and KF-H@PAn) were designed by means of “diffusion-interfacial-polymerization” under mild condition as high affinity due to the structural properties of PAn, KF and KF-H. The dispersed degree of PAn on the surface of KF and KF-H was validated according to adsorption efficiency for CR.

The content of PAn introduced was not beyond 20 wt.%, while adsorption capacity for CR was significantly enhanced by 4–8 times (on the basis of kinetic data) according to the calculation only by the content of PAn due to KF and alkaline hydrolyzed KF exhibited almost no adsorption for CR, indicating dispersed situation of PAn coating was greatly enhanced and more active sites exposed, which was favorable for the adsorption process. Presence of NaCl would exhibit a more or less positive effect on CR uptake, suggesting the materials could be used for high salt environment.

The investigated means of dispersed degree of PAn on the surface of KF and KF-H are the further and future investigation.

This study will provide a method to improve the dispersed situation of PAn and a theoretical support to treat anionic dyes from aqueous solution especially for salt environment.

The results showed that the dispersed condition of PAn on the surface of KF and KF-H was greatly improved. According to the adsorption capacities for CR, it can be concluded that part of adsorption sites were buried due to the aggregation of PAn, and introduction of KF and KF-H, buried adsorption sites decreased greatly. This study will provide a method to decrease buried adsorption sites of PAn and a contribution for their convenient application in wastewater treatment especially for high salt environment.

High power and speed are new demands for rotating machinery which needs the journal bearings with high dynamic characteristics. The critical speed of the rotor-bearing system is one of the most significant parameters to evaluate the dynamic characteristics. This paper aims to investigate the theoretical and experimental analysis of a rotor system supported by large diameter elliptical bearings.

To obtain the theoretical and experimental support for rotor-bearing system design, dynamic characteristics theoretical analysis based on the finite difference method is given and an experiment focuses on critical speed identification is carried out.

The theoretical calculation results indicate that the critical speed is near to 800 rpm and there is no large vibration amplitude round working speed (1,500 rpm). Using the test bench in the factory unit, vibration data including three experimental processes are obtained. According to the vibration data, the critical speed is identified which also indicates that it is stable when working at 1,500 rpm.

The design method for the rotor system supported by large diameter elliptical bearing can be obtained by the theoretical and experimental results shown in this paper.

The peer review history for this article is available at: https://publons.com/publon/10.1108/ILT-04-2020-0122/

High power rotating machinery requires large diameter bearings that can perform under extreme conditions. Vibrations and critical speeds of rotor supported by tilting pad journal bearing (TPJBs) exceeding their design limits may cause unit failure. This paper aims to investigate the experimental technique for large diameter bearings.

To obtain the experimental support for rotor-bearing system design, an experiment focusing on vibration monitoring is given. The sensors arrangement, monitoring system and critical speed identification method are provided.

By using test bench in factory unit, a large amount of vibrations data of different working situations is obtained. In addition, a method named non-excitation identification for critical speed is proposed. The critical speed of rotor identified through vibration data is given. The theoretical calculation results are also presented.

The basis for rotor-bearing system design can be obtained through comparisons between the experimental results and the theoretical calculation data.