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Article
Publication date: 20 May 2021

Xin Xiang

The purpose of this study is to examine whether and how internal capital markets mitigate financial constraints and enhance firms' willingness to engage in R&D projects.

492

Abstract

Purpose

The purpose of this study is to examine whether and how internal capital markets mitigate financial constraints and enhance firms' willingness to engage in R&D projects.

Design/methodology/approach

The study uses panel data relating to 2,095 publicly traded firms in the Chinese A-share market for the period 2007–2019. The tobit regression method is applied to explore R&D investment–cash flow sensitivity of group affiliates, while the systematic generalised method of moments and dynamic ordinary least squares models are adopted to address the endogeneity problem in the robustness test.

Findings

This study finds that firms affiliated with business groups demonstrate lower R&D investment–cash flow sensitivity than non-affiliated firms do and that R&D investments are significantly influenced by the cash reserves of other group members. In terms of financing channels, this study demonstrates that group firms use internal cash and equity financing to support other members' R&D investments, while debt financing does not influence member firms' R&D investments. In addition, this study discovers that R&D spending harms the stock and operating performance of some group members.

Practical implications

The findings of this study enable business groups to focus on resource allocation and investment efficiency.

Originality/value

Although prior studies indicate that internal capital markets can enhance R&D spending, few studies reveal the mechanisms through which internal capital markets benefit R&D. This study uses a unique methodology to test the ability of the internal capital market to enhance R&D spending. In addition, group firms use internal cash flow and equity financing to support partners' R&D projects.

Details

International Journal of Emerging Markets, vol. 18 no. 4
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 10 March 2022

Xin Xiang

This study focuses on an emerging market, China, and investigates the effects of corporate research and development (R&D) spending and subsidies on stock market reactions to…

261

Abstract

Purpose

This study focuses on an emerging market, China, and investigates the effects of corporate research and development (R&D) spending and subsidies on stock market reactions to seasoned equity offering (SEO) announcements.

Design/methodology/approach

The study uses a sample of SEOs announced over the period of 2003–2018 in the Chinese A-share market. The cumulative abnormal stock returns (CARs) are adopted to measure the stock market response to SEOs. The R&D spending-to-sales ratio (R&D subsidies) in 2 years before SEO announcements is used to measure the pre-SEO R&D spending (R&D subsidies). The instrumental variable (IV) regression method is applied to address the endogeneity problem in the robustness test.

Findings

This study demonstrates that firms with high R&D spending suffer stock overpricing and experience a negative market reaction when they announce SEOs, but R&D subsidies alleviate stock overpricing and mitigate the negative relationship between R&D spending and SEO market reactions.

Originality/value

Although the prior studies have demonstrated that information asymmetry, which causes stock overpricing, explains negative stock market reactions to SEOs, it is unclear if a certain factor that causes information asymmetry affects SEO market reactions. This study fills this gap and focuses on R&D spending, demonstrating that R&D spending is negatively related to SEO performance.

Details

International Journal of Emerging Markets, vol. 18 no. 11
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 20 April 2012

Hur‐Li Lee

This study aims to understand the epistemic foundation of the classification applied in the first Chinese library catalogue, the Seven Epitomes (Qilue).

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Abstract

Purpose

This study aims to understand the epistemic foundation of the classification applied in the first Chinese library catalogue, the Seven Epitomes (Qilue).

Design/methodology/approach

Originating from a theoretical stance that situates knowledge organization in its social context, the study applies a multifaceted framework pertaining to five categories of textual data: the Seven Epitomes; biographical information about the classificationist Liu Xin; and the relevant intellectual, political, and technological history.

Findings

The study discovers seven principles contributing to the epistemic foundation of the catalogue's classification: the Han imperial library collection imposed as the literary warrant; government functions considered for structuring texts; classicist morality determining the main classificatory structure; knowledge perceived and organized as a unity; objects, rather than subjects, of concern affecting categories at the main class level; correlative thinking connecting all text categories to a supreme knowledge embodied by the Six Classics; and classicist moral values resulting in both vertical and horizontal hierarchies among categories as well as texts.

Research limitations/implications

A major limitation of the study is its focus on the main classes, with limited attention to subclasses. Future research can extend the analysis to examine subclasses of the same scheme. Findings from these studies may lead to a comparison between the epistemic approach in the target classification and the analytic one common in today's bibliographic classification.

Originality/value

The study is the first to examine in depth the epistemic foundation of traditional Chinese bibliographic classification, anchoring the classification in its appropriate social and historical context.

Details

Journal of Documentation, vol. 68 no. 3
Type: Research Article
ISSN: 0022-0418

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Article
Publication date: 3 August 2021

Jie Chen, Yongqiang Yang, Shibiao Wu, Mingkang Zhang, Shuzhen Mai, Changhui Song and Di Wang

In this paper, the mechanical properties and corrosion resistance of CoCr alloy fabricated by selective laser melting (SLM) were studied, and the changes of performance after…

496

Abstract

Purpose

In this paper, the mechanical properties and corrosion resistance of CoCr alloy fabricated by selective laser melting (SLM) were studied, and the changes of performance after porcelain sintering process were also analysed. This study is to point out the relationship between the microstructure, mechanical properties and corrosion resistance of CoCr alloys prepared by SLM after porcelain sintering process. In addition, the biosafety of the sintered CoCr alloy was evaluated.

Design/methodology/approach

The microscopic feature changes of CoCr alloy samples after porcelain sintering process were observed by DMI 5000 M inverted metallographic microscope and Nova Nano430 FE-SEM. Moreover, phase identification and determination were conducted by X-ray diffraction (XRD) using Smartlab X-ray diffractometer. The Vickers microhardness was measured on the HVS-30 microhardness tester, and tensile tests were carried out on a CM3505 electronic universal testing machine. The corrosion resistance was tested by a classical three-point electrode system electrochemical method, then the ion precipitation was measured by using an atomic absorption spectrometer of Z2000 7JQ8024.

Findings

The XRD results indicate that the transition of γ phase (FCC) to e phase (HCP) occurs during the porcelain sintering processing of CoCr alloy. Moreover, the Vickers microhardness of the upper surface and the side surface of the CoCr alloy sample was improved by more than 36%. In addition, the ultimate strength of CoCr alloy via porcelain sintering treatment was increase to 1,395.3 ± 53.0 MPa compared to 1,282.7 ± 10.1 MPa of unprocessed CoCr alloy. However, the corrosion resistance of CoCr alloy samples decreases after porcelain sintering process.

Originality/value

There are few studies on the relationship of microstructure, mechanical properties and corrosion resistance of CoCr alloys prepared by SLM after porcelain sintering process. In this study, the microstructure, mechanical properties and corrosion resistance of CoCr alloy after porcelain sintering process were studied, and the biosafety of the alloy was evaluated. The research found that it is feasible to apply CoCr alloy fabricated by SLM to dental medicine after porcelain sintering process.

Details

Rapid Prototyping Journal, vol. 27 no. 8
Type: Research Article
ISSN: 1355-2546

Keywords

Available. Open Access. Open Access
Article
Publication date: 13 April 2023

Mohammad Arief, Rita Indah Mustikowati and Yustina Chrismardani

Digitalization in marketing activities has made it easier for people to make purchase decision. This platform encourages every firm to optimize digitalization as part of its…

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Abstract

Purpose

Digitalization in marketing activities has made it easier for people to make purchase decision. This platform encourages every firm to optimize digitalization as part of its marketing strategy. Optimization of attractive digital marketing involves advertising attractiveness, influencer marketing and online customer reviews. This study aims to investigate advertising attractiveness, influencer marketing and online customer reviews on purchase decision.

Design/methodology/approach

The study was conducted with a quantitative approach. A total of 120 respondents were involved in this study by using convenience sampling techniques in data collection. Multiple linear regression was used to analyze the data.

Findings

The results of the study show that influencer marketing and online customer reviews have an impact on online purchase decision. Meanwhile, advertising attractiveness does not show any influence on purchase decision.

Practical implications

Despite the start-ups have modified the website by increasing the content to make it more informative, it seems that customers are not interested in making a purchase. Therefore, notwithstanding the role of website attractiveness, the use of physical attractiveness is still considered an effective way to encourage customers to make purchasing decisions. In this way, a firm needs to make adjustments between the customers' personality, lifestyle and attitudes and endorsers.

Originality/value

This study developed previous empirical studies which a positive relationship between advertising attractiveness, influencer marketing, online customer reviews and purchase decision. The development of the model was carried out by elaborating variable indicators. In addition, the source of increasing credibility was not based on physical attractiveness, but rather emphasizes the website quality.

Details

LBS Journal of Management & Research, vol. 21 no. 1
Type: Research Article
ISSN: 0972-8031

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Article
Publication date: 30 October 2024

Alessia Anzivino, Chiara Luisa Cantù and Roberta Sebastiani

This paper aims to investigate how orchestration mechanisms characterizing meta-organizations can support sustainability-oriented innovation (SOI) leveraged by digital transition.

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Abstract

Purpose

This paper aims to investigate how orchestration mechanisms characterizing meta-organizations can support sustainability-oriented innovation (SOI) leveraged by digital transition.

Design/methodology/approach

This study adopted a qualitative approach. The authors collected qualitative data from 41 in-depth interviews with key informants, participatory longitudinal observations and secondary data analysis related to a digital innovation hub (DIH) and its network.

Findings

The findings reveal how meta-organizations, such as DIHs, advance SOI – considering the potentialities of digital technologies – through four orchestration mechanisms: collaboration platform setup, SOI resource arrangement, SOI process enablement and SOI scale-up. Each mechanism is founded on recurrent SOI practices identified as aligning, assembling and progressing, and each is characterized by specific activities that depend on meta-organizations’ evolutionary purposes related to the stages of the creation process. The activation of mechanisms concerns a process outlining three sequential evolutionary trajectories: for assessing and regulating interaction, for promoting and coordinating collective action and for creating a collective identity.

Originality/value

This study contributes to meta-organization and orchestration research oriented toward SOI and leveraged by the digital transition, and considers the distinctive orchestration mechanisms and practices required to support SOI leveraged by the digital transition. Differently from previous research on orchestration and meta-organizations, this study considers the time perspective, and thus, the sequentiality of mechanisms (evolutionary trajectories) to achieve the purposes characterizing the stages of meta-organizations’ creation process.

Details

Journal of Business & Industrial Marketing, vol. 40 no. 1
Type: Research Article
ISSN: 0885-8624

Keywords

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Expert briefing
Publication date: 23 December 2019

The impact of allegations of covert Chinese interference.

Details

DOI: 10.1108/OXAN-DB249592

ISSN: 2633-304X

Keywords

Geographic
Topical
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Article
Publication date: 19 November 2003

Fengru Li and Nader H. Shooshtari

Applying brand names to international markets remains a challenge to multinational corporations. Consumers’ sociolinguistic backgrounds shape their responses to brand names. This…

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Abstract

Applying brand names to international markets remains a challenge to multinational corporations. Consumers’ sociolinguistic backgrounds shape their responses to brand names. This paper uses a sociolinguistic approach as a conceptual framework in understanding brand naming and translating in the Chinese market. The approach promotes that sociolinguistics a) recognizes linguistic competence, b) advances symbolic values imbedded in linguistic forms, and c) renders attached social valence to cultural scrutiny. Three brand‐naming cases in China are presented for discussion, which may benefit multinational corporations on brand decisions involving Chinese consumers.

Details

Multinational Business Review, vol. 11 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

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Article
Publication date: 5 September 2016

Brogan Rylands, Tillmann Böhme, Robert Gorkin, Joshua Fan and Thomas Birtchnell

Company pressure for manufacturers is mounting from two angles: increasing pressure of global competition, and rapid advancements in technology such as additive manufacturing (AM…

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Abstract

Purpose

Company pressure for manufacturers is mounting from two angles: increasing pressure of global competition, and rapid advancements in technology such as additive manufacturing (AM) that are altering the way that goods are manufactured. The purpose of this paper is to explore the adoption process of AM within a manufacturing system and its business impact.

Design/methodology/approach

Research was conducted to collect empirical data at two manufacturing case companies in the North West England. Both cases are located in areas of industrial recovery using AM engineering innovation for value creation.

Findings

Early findings showed that the implementation of AM caused a shift in value propositions and the creation of additional value streams (VSs) for the case study companies. AM was shown to compliment and strengthen traditional manufacturing VSs rather than replacing them.

Research limitations/implications

Limitations include the generalizability due to the number and location of case companies included in this research.

Practical implications

It is worthwhile to explore the opportunities that AM brings with the existing customer base as it has the potential to add unexplored and untapped value. However, managers need to be mindful of the capability and resources required to put the VS into practice.

Social implications

Both cases resulted in skill retainment and development due to the implementation of AM. Hence, the innovation contributed to regional economic recovery and business survival.

Originality/value

This empirical research is one of the early field explorations focussing on the impact of AM on VS structures. Hence, this paper contributes to the area of technology enhanced manufacturing systems.

Details

Journal of Manufacturing Technology Management, vol. 27 no. 7
Type: Research Article
ISSN: 1741-038X

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Article
Publication date: 6 February 2017

Harm-Jan Steenhuis and Leon Pretorius

The purpose of this paper is to gain insight into whether additive manufacturing (AM) represents incremental, radical, disruptive innovation or an industrial revolution and its…

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Abstract

Purpose

The purpose of this paper is to gain insight into whether additive manufacturing (AM) represents incremental, radical, disruptive innovation or an industrial revolution and its implications.

Design/methodology/approach

This study applies a desk research strategy. Data were collected through a variety of industry sources as well as academic publications.

Findings

It was found that AM represents different innovations in different settings, while it represents incremental innovation in one industry, it has led to radical changes in other industries. There are also indications that it has a disruptive nature and some of the developments appear to be of the industrial revolutionary type, i.e. they cause fundamental shifts in society. Some explanation for the observed differences can come from different performance objectives.

Research limitations/implications

The spread of AM has been limited due to initial intellectual property protection. That means that while illustrations and examples were found for the different types of innovations, the level in which AM will ultimately penetrate manufacturing industries and society overall is not (yet) known. This calls for continued research for instance to study, in-depth, the adoption characteristics of AM in very specific settings.

Practical implications

Manufacturing is undergoing many changes as a consequence of the AM innovation. Many manufacturing industries have already been impacted through incremental changes as well as radical changes to entire industry dynamics. Manufacturers are advised to carefully monitor the continuous innovations in the technological capabilities of AM and their competitive and strategic consequences for adoption decisions.

Social implications

AM has an impact on many aspects of society because it affects many industries and enables household manufacturing. It has also affected education, i.e. the current generation of students in terms of skill requirements, and leads to legal difficulties in terms of intellectual property.

Originality/value

This study contributes to the understanding of the AM innovation and the widespread implications for different manufacturing industries and society at large.

Details

Journal of Manufacturing Technology Management, vol. 28 no. 1
Type: Research Article
ISSN: 1741-038X

Keywords

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