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Article
Publication date: 29 November 2022

Xuying Wang and Jiabao Lin

The purpose of this paper is to take second-hand vehicles at judicial auctions in China as the primary research direction and to explore the impact of purchasing restriction…

94

Abstract

Purpose

The purpose of this paper is to take second-hand vehicles at judicial auctions in China as the primary research direction and to explore the impact of purchasing restriction policy and city size on the relationship between the appraisal price and transaction price of second-hand motor vehicles in the context of auto purchase restriction in China from a microscopic angle. It attempts to broaden the pricing ideas of judicial appraisal enterprises in providing appraisal prices of second-hand motor vehicles and to put forward suggestions for the optimization of appraisal prices and appraisal standards of judicial appraisal enterprises.

Design/methodology/approach

With the help of Python, this paper crawls 59,038 lines of valid data from three leading internet judicial auction platforms, namely “Ali Auction,” “China Beijing Equity Exchange” and “Gong Pai Wang,” as research samples. Besides, this paper forms a database containing judicial auction used car appraisal prices, transaction prices, motor vehicle purchase restrictions and whether the motor vehicle carries a license plate. By constructing a multiple regression model, the impact of automobile purchase restriction policy on the price of motor vehicles appraised by judicial appraisal enterprises is investigated.

Findings

With the help of the multivariate regression model, it found that under the same condition, the city where the auction took place implemented the automobile purchase restriction before the end of the auction. The court has specified that the buyer could directly obtain the license plate after the auction. The transaction price and the evaluation price ratio will be statistically larger, which proves that the license plate has an evident value in the transaction and is traded as subject matter by the residents, and consequently brings a higher premium to the price of automobile transaction in internet judicial auction. Meanwhile, the purchase restriction policy in the first-tier cities has resulted in a significant premium on automobile license plates, which is much higher than the automobile license plate premium level in non-first-tier cities under the same conditions.

Social implications

Car ownership continues to rise with rapid economic development worldwide. Control the growth of car ownership, some countries and regions mainly restrict the issuance of motor vehicle license plates, which indirectly leads to vehicle license plate indicators becoming a scarce resource. National laws permit judicial auction as a means for the people's courts to settle creditors' claims in enforcement procedures of civil cases. In the judicial auction process, the People's Court introduces third-party evaluation enterprises to appraise, assess and audit the subject and obtain the appraisal price, which guides the bidding behavior of used car buyers and indirectly affects the transaction price of used cars.

Originality/value

As the only subject capable of assessing the value of used cars at judicial auctions, judicial appraisal enterprises have received widespread attention for their appraisal results. This paper researches this field by screening the factors affecting the ratio of motor vehicle transaction price to the appraised price. It also analyzes how the ratio of motor vehicle transaction price to appraised price is affected by motor vehicle purchase restrictions and the situation with license plates. This paper examines the existence of premiums for motor vehicle transactions with license plates, evaluates the purchase restrictions in cities with motor vehicle purchase restrictions and verifies that the premiums for motor vehicles at judicial auctions are affected by purchase restriction policies as well as the influence of city class. These studies have important implications for judicial appraisal enterprises to establish reasonable appraisal mechanisms and optimize appraisal prices. They also provide new ideas and methods for appraisal enterprises to assess the value of used vehicles at judicial auctions.

Details

Nankai Business Review International, vol. 14 no. 2
Type: Research Article
ISSN: 2040-8749

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Article
Publication date: 17 February 2023

Karishma Jain and P.S. Tripathi

This study aimed to quantify and map academic literature of ESG from a bibliometric perspective and to provide a comprehensive review of the recent literature published in the…

3519

Abstract

Purpose

This study aimed to quantify and map academic literature of ESG from a bibliometric perspective and to provide a comprehensive review of the recent literature published in the high-rated journal articles.

Design/methodology/approach

The study analyzed 867 and 388 documents from Scopus and Web of Science (WoS) data respectively using bibliometric analysis. Biblioshiny and VOSviewer software was used for performance analysis and science mapping respectively. Further, manual content analysis of the 190 research articles published in the last five years was conducted.

Findings

The results demonstrate that ESG is an emerging domain in the field of sustainable finance as the number of publications and total citations are showing an upward trend. The top two journals in terms of productivity are the Journal of Sustainable Finance and Investment and Business Strategy and the Environment. The highest number of publications are from the United States and George Serafeim is the most influential author in the ESG domain. Further, the result of cluster analysis of bibliographic coupling reveals four intellectual themes, (1) ESG investing; (2) ESG disclosures and Integrated Reporting; (3) ESG performance and firm value and (4) Corporate Governance and ESG performance. The content analysis of the 190 high-quality journal articles presents the current 11 areas of research in ESG. The impact of ESG on firm value and ESG investment are the prominent themes, and the effect of ESG on the cost of capital and ESG audit and assurance are the emerging themes in this domain.

Research limitations/implications

The keyword search is solely focusing on the theme of the study. Further, other keywords such as Corporate Social Responsibility and Corporate sustainability taken along with ESG may provide distinct results.

Practical implications

The study advances the understanding of the ESG domain by developing new possibilities to discover key research areas.

Originality/value

The present work provides a comprehensive and detailed bibliometric and content analysis of ESG literature. This study delineates the thorough literature review of journal articles published in the recent five years in high-rated journals.

Details

Journal of Strategy and Management, vol. 16 no. 3
Type: Research Article
ISSN: 1755-425X

Keywords

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Article
Publication date: 5 December 2016

Cathy Xuying Cao and Chongyang Chen

The purpose of this paper is to examine how employee satisfaction affects firm value around the financial crisis.

2278

Abstract

Purpose

The purpose of this paper is to examine how employee satisfaction affects firm value around the financial crisis.

Design/methodology/approach

The authors use the 2008 financial crisis as exogenous shocks to firms to mitigate endogenous concern that employee satisfaction and firm value can be jointly determined. The authors compare firm value of two groups of firms: the firms on the Fortune magazine’s list of “100 Best Companies to Work For” and matched firms that are not on the list. The authors employ difference-in-difference approaches in the tests.

Findings

The authors find that when the crisis happens, the best companies experience larger decreases in firm value than comparable firms. In addition, such decreases in firm value only exist among the best companies with high financial flexibility. The authors also show that job satisfaction alone does not create firm value during the financial crisis; only when interacted with high financial flexibility, employee satisfaction leads to high firm value. Finally, the authors document that best companies do not have any advantage in the recovery of firm value after the crisis, regardless of their level of financial flexibility.

Research limitations/implications

There is considerable debate on whether job satisfaction leads to performance or performance leads to satisfaction (Luthans, 1998). The authors show that the impact of employee satisfaction on firm value changes over time. The authors also identify a crucial factor that impacts the value-creation of employee satisfaction: financial flexibility. The findings suggest that the ambiguous results documented in prior literature can be due to the different sample periods and the failure to identify the impact of financial flexibility in previous studies.

Practical implications

The findings provide helpful implications to the business community. The evidence suggests that to reap the benefits of employee satisfaction, companies need to manage their financial flexibility to buffer against potential negative shocks while having strong corporate governance mechanism to mitigate agency concerns. Moreover, the study provides an investment recommendation to socially responsible investment (SRI) and suggests that it is better off implementing dynamic SRI investment strategies according to economic condition.

Social implications

The evidence suggests that the economic value of employee satisfaction is related to firms’ financial flexibility and economic conditions.

Originality/value

The authors contribute to the literature by showing that the impact of employee satisfaction on firm value changes over time. The test design not only allows the authors to study the effect of employee satisfaction on firm value at a particular point in time, but also helps the authors examine the variation in the effect over economic cycles. This paper also contributes to the literature on SRI. The authors identify a crucial factor that impacts the value-creation of employee satisfaction: financial flexibility.

Details

Managerial Finance, vol. 42 no. 12
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 12 November 2024

Yajun Guo, Zhenyang Liu, Yi Ruo Guo, Xuying Kou and Zihan Jin

Public libraries are strong advocates of the development of accessibility for people with disabilities. Understanding the accessibility services needs of visually impaired patrons…

81

Abstract

Purpose

Public libraries are strong advocates of the development of accessibility for people with disabilities. Understanding the accessibility services needs of visually impaired patrons is highly beneficial for increasing satisfaction with public library services. The purpose of this research is to assess the service capabilities of visually impaired patrons in public libraries and to improve the accessibility of services provided by public libraries for visually impaired patrons.

Design/methodology/approach

This research adopts a mixed methods approach. Qualitative data collection involves interviews and surveys with 34 visually impaired individuals in China, applying grounded theory and expectancy theory. Quantitative analysis is then carried out using the Kano model.

Findings

The research reveals four types of accessibility service needs, with visually impaired patrons prioritizing value-added information services and self-service options. In addition, visually impaired patrons are also highly interested in the integration of assistive and innovative technologies within libraries.

Originality/value

By emphasizing a patron-centered approach, this research provides insights into innovative service approaches in public libraries that address the specific needs of visually impaired patrons and contribute essential strategies for bridging the digital divide.

Details

Library Hi Tech, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-8831

Keywords

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Article
Publication date: 10 September 2024

Xuying Li, Yanbin Liu, Jie Huang, Deyu Sang, Kun Yang and Jinbo Ling

This paper aims to reveal the influence of the grooved texture parameters on the lubrication performance of circular pocket-roller pairs in cylindrical roller bearings.

34

Abstract

Purpose

This paper aims to reveal the influence of the grooved texture parameters on the lubrication performance of circular pocket-roller pairs in cylindrical roller bearings.

Design/methodology/approach

In this paper, the thermal elastohydrodynamic lubrication mathematical model of the grooved texture circular pocket-roller pair was established, the finite difference method and successive over-relaxation method were used to solve the model, the influence of texture quantity, texture depth and texture area ratio on circumferential bearing capacity, friction coefficient, maximum temperature rise, stiffness and damping of the circular pocket-roller pairs were analyzed.

Findings

The results show that texture quantity, texture depth and texture area ratio significantly influence the static and dynamic characteristics of circular pocket-roller pairs. The suitable surface groove texture parameters can dramatically improve the circumferential bearing capacity, reduce the friction coefficient, inhibit the maximum temperature rise and increase the stiffness and damping of the circular pocket-roller pairs.

Originality/value

The research in this paper can provide a theoretical basis for the optimization design of pockets in cylindrical roller bearings to reduce friction and vibration.

Details

Industrial Lubrication and Tribology, vol. 76 no. 9
Type: Research Article
ISSN: 0036-8792

Keywords

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Article
Publication date: 19 November 2018

Lei Shao, Shiyu Feng, Chaoyue Li, Weihua Liu and Xuying Huang

This paper aims to improve the previous fuel scrubbing model and find out the relationship between bubble diameter and scrubbing efficiency (ƞ).

188

Abstract

Purpose

This paper aims to improve the previous fuel scrubbing model and find out the relationship between bubble diameter and scrubbing efficiency (ƞ).

Design/methodology/approach

A fuel tank scrubbing test bench was established to verify the accuracy of this model. Ullage and dissolved oxygen concentration were measured, and images of bubble size and distribution were collected and analyzed using image analysis software.

Findings

The bubble diameter has a great influence on ullage and dissolved oxygen concentration during the fuel scrubbing process. The scrubbing efficiency (ƞ) has an exponential relationship with bubble diameter and decreases rapidly as the bubble diameter increases.

Practical implications

The variation of the ullage and dissolved oxygen concentration predicted by this model is more accurate than that of the previous model. In addition, the study of bubble size can provide a guidance for the design of fuel scrubber.

Originality/value

This study not only improves the previous fuel scrubbing model but also develops a method to calculate scrubbing efficiency (ƞ) based on bubble diameter. In addition, a series of tests and analyses were conducted, including numerical calculation, experiment and image analysis.

Details

Aircraft Engineering and Aerospace Technology, vol. 91 no. 2
Type: Research Article
ISSN: 1748-8842

Keywords

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Article
Publication date: 16 February 2022

Cathy Xuying Cao and Chongyang Chen

This paper examines the relation between political sentiment and future stock price crash risk.

651

Abstract

Purpose

This paper examines the relation between political sentiment and future stock price crash risk.

Design/methodology/approach

This study employs firm-level political sentiment from earnings conference calls. The empirical analysis applies panel regressions on 40,254 US firm-year observations between 2002 and 2020, controlling for various firm-specific determinants of crash risk and firm-, industry- as well as time-fixed effects.

Findings

The study identifies a negative association between both the level and the change of political sentiment and stock crash risk. Further analysis shows that the predictive power of political sentiment is independent of either non-political sentiment or political risk and remains consistently strong during periods of either high or low economic policy uncertainty. Moreover, the predictive effect of political sentiment is more pronounced for firms with high litigation risk.

Research limitations/implications

The evidence highlights the important role of political sentiment in predicting stock crash risk. The results are consistent with the signaling hypothesis that managers tend to use their tone in conference calls to convey informative messages on firm outlooks.

Practical implications

The study provides a recommendation on risk management: soft information such as political and non-political sentiment in earnings conference calls is useful in managing stock crash risk. The study findings also call for careful consideration of social costs, such as stock crash risk, associated with political policies. Ill-conceived policies may lead to market crashes, which can potentially outweigh the upsides of well-meaning political reforms.

Originality/value

To the authors best knowledge, this is the first study to identify the effect of time-varying firm-level political sentiment conveyed in conference calls on stock price crash.

Details

The Journal of Risk Finance, vol. 23 no. 2
Type: Research Article
ISSN: 1526-5943

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Article
Publication date: 14 September 2023

Wei Jiang, Ray C. Chang, Ning Yang and Ying Xu

The purpose of this paper is to present a comparative study of flight circumstances, dynamic stability characteristics and controllability for two transport aircraft in severe…

78

Abstract

Purpose

The purpose of this paper is to present a comparative study of flight circumstances, dynamic stability characteristics and controllability for two transport aircraft in severe atmospheric turbulence at transonic cruise flight for the purpose to obtain the prevention concepts of injuries to passengers and crew members for pilot training in International Air Transport Association (IATA) – Loss of Control In-flight (LOC-I) program.

Design/methodology/approach

A twin-jet and a four-jet transport aircraft encountering severe atmospheric turbulence are the study cases for this paper. The nonlinear unsteady aerodynamic models are established through flight data mining and the fuzzy-logic modeling technique based on the flight data of flight data recorder. This method can be adopted to examine the influence of horizontal wind shear and crosswind on loss of control, dynamic stability characteristics and controllability for transport aircraft in different weights and different sizes in tracking aviation safety of existing different types of aircraft.

Findings

The horizontal wind shear or crosswind before the turbulence encounter will easily induce rolling motion and then initiate the sudden plunging motion during the turbulence encounter. The roll rate will increase the oscillatory rolling motion during plunging motion, if the rolling damping is insufficient. The drop-off altitude will be enlarged by the oscillatory rolling motion during the sudden plunging motion.

Research limitations/implications

A lack of the measurement data of vertical wind speed sensor on board to verify the estimated values of damping term is one of the research limitations for this study. The fact or condition of being severe in sudden plunging motion can be judged through the analysis of oscillatory derivatives with both dynamic stability and damping terms.

Practical implications

The roll rate will increase the oscillatory rolling motion during plunging motion, if the rolling damping is insufficient. The drop-off altitude will be enlarged by the oscillatory rolling motion during the sudden plunging motion. The horizontal wind shear or crosswind before the turbulence encounter will easily induce rolling motion and then initiated the sudden plunging motion during the turbulence encounter. If the drift angle is large, to turn off the autopilot of yaw control first and stabilize the rudder by the pedal. When passing through the atmosphere turbulence area, the pilots do not need to amend the heading angle urgently.

Social implications

The flight safety prevention in avoidance of injuries for passengers and cabin crews is essential for the airlines. The horizontal wind shear or crosswind before the turbulence encounter will easily induce rolling motion and then initiated the sudden plunging motion during the turbulence encounter.

Originality/value

The flight safety prevention in avoidance of injuries for passengers and cabin crews is essential. The present assessment method is an innovation to examine the loss of control problems of aviation safety and promote the understanding of aerodynamic responses of the jet transport aircraft. It is expected to provide a valuable lecture for the international training courses for IATA – LOC-I program after this paper is being published.

Details

Aircraft Engineering and Aerospace Technology, vol. 95 no. 10
Type: Research Article
ISSN: 1748-8842

Keywords

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Article
Publication date: 15 June 2020

Fangfang Wei and Guijie Zhang

This paper aims to present a longitudinal and visualizing study using scientometric approaches to depict the historical changes in the academic community, intellectual base and…

378

Abstract

Purpose

This paper aims to present a longitudinal and visualizing study using scientometric approaches to depict the historical changes in the academic community, intellectual base and research hotspots within the business domain.

Design/methodology/approach

Two mapping methods are used, namely, co-citation analysis and co-occurrence analysis. Both the co-citation analysis and co-occurrence analysis in this study are conducted using CiteSpace, a Java-based scientific visualization software.

Findings

This paper detects changes in academic communities in 24 business journals chosen by the University of Texas at Dallas as leading journals (UTD24) and identifies the research hotspots such as corporate governance, organizational research and capital research. Many authors and academic communities appear in two or even three periods, which indicates the lasting academic vitality of scholars in this field. This paper determines the evolution of scholars' research interests by identifying high-frequency keywords during the entire period.

Originality/value

This paper reveals a systematic and holistic picture of the developmental landscape of the business domain, which can provide a potential guide for future research. Furthermore, based on empirical data and knowledge visualization, the intellectual structure and evolution of the business domain can be identified more objectively.

Details

The Electronic Library , vol. 38 no. 3
Type: Research Article
ISSN: 0264-0473

Keywords

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