Search Results (4,808)

Digital transformation (DT) has emerged as a key strategic lever for enhancing firm resilience and competitiveness, yet its influence on non-productive investment behaviors, such as corporate financial investment, remains underexplored. Existing studies have largely focused on DT’s role in innovation and operational efficiency, leaving a significant gap in understanding how DT reshapes firms’ financial asset allocation. Drawing on a unique panel dataset of A-share main board-listed firms in China from 2011 to 2023, this study provides novel empirical evidence that DT significantly restrains financial investment, with pronounced heterogeneity across ownership types. More importantly, this paper uncovers a multi-layered mechanism: DT enhances the corporate information environment, which subsequently reduces financial investment. In addition, the analysis reveals a moderated mediation mechanism wherein economic uncertainty dampens the information-enhancing effect of DT. Unlike previous research that treats corporate risk-taking as a parallel mediator, this study identifies a sequential mediation pathway, where improved information environments suppress financial investment indirectly by influencing firms’ risk-taking behavior. These findings offer new theoretical insights into the financial implications of DT and contribute to the broader understanding of enterprise behavior in the context of digitalization and economic volatility. Full article

To address water sustainability challenges, this study investigates how public water concern influences corporate water responsibility (CWR) and how managerial green cognition moderates this relationship. Drawing on institutional theory and cognitive theory, we analyze a panel of 1292 publicly listed high-water-consuming firms in China from 2015 to 2024. The results show that public water concern significantly improves CWR by increasing legitimacy pressure, while its effect through government water governance attention is not statistically significant. Furthermore, managerial green cognition—including both economic and moral dimensions—positively moderates this relationship. Heterogeneity analysis reveals that the moderating effect is stronger in firms with more female directors, older executives, and internationally experienced teams. These findings contribute to refining institutional theory in the context of environmental responsibility and highlight the critical role of executive cognition and demographic structure in corporate sustainability behavior. Full article

Under intensified downward economic pressures on the economy, technological innovation is playing a pivotal role in the development of Chinese enterprises. Employees’ psychological safety significantly influences their innovative behaviors, as a climate of psychological safety fosters greater willingness among staff to engage in voice behaviors. Guanxi with a team leader may decrease this effect. This study analyzed survey data from 263 employees of China’s private manufacturing enterprises to explore the moderating role of guanxi with a team leader in the relationship between psychological safety climate and voice behavior. Results showed that psychological safety climate was positively correlated with promotive and prohibitive voices, and employees with a higher psychological safety climate were more likely to develop voice behavior. Guanxi with team leaders negatively moderated the relationship between psychological safety climate and promotive and prohibitive voices, and the association between psychological safety climate and promotive and prohibitive voices was strong when guanxi with a team leader was weak. This study expands the scope of the application of guanxi, with team leaders as a moderating variable. It helps leaders focus on the psychological safety climate of employees, maintain harmonious and friendly interpersonal relationships with employees, enable employees to spontaneously contribute to the development of the organization, and enhance cohesion in the organization. Full article

The COVID-19 pandemic was a profoundly influential global occurrence in recent history, impacting daily life, economics, and healthcare systems for an extended period. The abundance of data has been essential in creating models to simulate and forecast the dissemination of infectious illnesses, aiding governments and health organizations in making educated decisions. This research primarily focuses on designing a control technique that incorporates the five most important inputs that impact the spread of COVID-19 on the Romanian territory. Quantitative analysis and data filtering are two crucial aspects to consider when developing a mathematical model. In this study the transfer function principle was used as the most accurate method for modeling the system, based on its superior fit demonstrated in a previous study. For the control strategy, a PI (Proportional-Integral) controller was designed to meet the requirements of the intended behavior. Finally, it is showed that for such complex models, the chosen control strategy, combined with fine tuning, led to very accurate results. Full article

The proliferation of social media has paradoxically facilitated the widespread dissemination of fake news, impacting individuals, politics, economics, and society as a whole. Despite the increasing scholarly research on this phenomenon, a significant gap exists regarding its dynamics in developing countries, particularly how predictors of fake news sharing interact, rather than merely their net effects. To acquire a more nuanced understanding of fake news sharing behavior, we propose identifying the direct and complex interplay among key variables by utilizing a dual analytical framework, leveraging Structural Equation Modeling (SEM) for linear relationships and Fuzzy-Set Qualitative Comparative Analysis (fsQCA) to uncover asymmetric patterns. Specifically, we investigate the influence of news-find-me orientation, social media trust, information-sharing tendencies, and status-seeking motivation on the propensity of fake news sharing behavior. Additionally, we delve into the moderating influence of social media literacy on these observed effects. Based on a cross-sectional survey of 1028 Haitian social media users, the SEM analysis revealed that news-find-me perception had a negative but statistically insignificant influence on fake news sharing behavior. In contrast, information sharing exhibited a significant negative association. Trust in social media was positively and significantly linked to fake news sharing behavior. Meanwhile, status-seeking motivation was positively associated with fake news sharing behavior, although the association did not reach statistical significance. Crucially, social media literacy moderated the effects of trust and information sharing. Interestingly, fsQCA identified three core configurations for fake news sharing: (1) low status seeking, (2) low information-sharing tendencies, and (3) a unique interaction of low “news-find-me” orientation and high social media trust. Furthermore, low social media literacy emerged as a direct core configuration. These findings support the urgent need to prioritize social media literacy as a key intervention in combating the dissemination of fake news. Full article

This study intends to provide insights and challenges for the shape of the B movement, an emerging paradigm that fosters cross-sectoral partnerships and encourages ethical business practices through so-called purpose-driven businesses. Focusing on Italy, the first European country to adopt this managerial model, the research investigates Italian Benefit Corporations, known as Società Benefit (SB), and their most appealing sustainability claims from a consumer perspective. The analysis intends to inform theory development by assuming the cultural and creative industry (CCI) as a field of interest, utilizing a within-subjects experimental design to analyze data from a diverse consumer sample across various contexts. The results indicate that messaging centered on economic sustainability emerged as the most effective in generating positive consumer responses, highlighting a prevailing inclination toward pragmatic factors such as affordability, economic accessibility, and tangible benefits rather than social issues. While sustainable behaviors are not yet widespread, latent ethical sensitivity for authentic, value-driven businesses suggests that economic and ethical dimensions can be strategically synthesized to enhance consumer engagement. This insight highlights the role of BCs in catalyzing a shift in consumption patterns within ethical-based and creative-driven sectors. Full article

The green renovation of existing residential buildings is a key way for the construction industry to achieve sustainable development and the dual carbon goals of China, which makes it urgent to make collaborative decisions among multiple stakeholders. However, because of divergent interests and risk perceptions among governments, energy service companies (ESCOs), and owners, the implementation of green renovation is hindered by numerous obstacles. In this study, we integrated prospect theory and evolutionary game theory by incorporating core prospect-theory parameters such as loss aversion and perceived value sensitivity, and developed a psychologically informed tripartite evolutionary game model. The objective was to provide a theoretical foundation and analytical framework for collaborative governance among stakeholders. Numerical simulations were conducted to validate the model’s effectiveness and explore how government regulation intensity, subsidy policies, market competition, and individual psychological factors influence the system’s evolutionary dynamics. The findings indicate that (1) government regulation and subsidy policies play central guiding roles in the early stages of green renovation, but the effectiveness has clear limitations; (2) ESCOs are most sensitive to policy incentives and market competition, and moderately increasing their risk costs can effectively deter opportunistic behavior associated with low-quality renovation; (3) owners’ willingness to participate is primarily influenced by expected returns and perceived renovation risks, while economic incentives alone have limited impact; and (4) the evolutionary outcomes are highly sensitive to parameters from prospect theory, The system’s evolutionary outcomes are highly sensitive to prospect theory parameters. High levels of loss aversion (λ) and loss sensitivity (β) tend to drive the system into a suboptimal equilibrium characterized by insufficient demand, while high gain sensitivity (α) serves as a key driving force for the system’s evolution toward the ideal equilibrium. This study offers theoretical support for optimizing green renovation policies for existing residential buildings in China and provides practical recommendations for improving market competition mechanisms, thereby promoting the healthy development of the green renovation market. Full article

In recent years, online streaming has encountered the challenge of retaining its user base. This study considers the role of transaction cost economics theory in consumer choices to continue subscribing. Participants respond to their top three streaming services, resulting in 797 responses, accounting for multiple selections by each respondent. Respondents could choose their top three services from a list of Netflix, Disney, Hulu, Amazon Prime Video, HBO Max, and Apple TV+. The study’s conclusions highlight the impact of uncertainty, a negative measure of streaming quality, on online subscription-based video streaming. Additionally, asset specificity, reflecting uniqueness and exclusive content, is found to be positively related to continuing a subscription. This research distinguishes itself by examining individuals who are already subscribers to provide insights and guidance through the lens of Transaction Cost Economics, to help marketing professionals seeking a deeper understanding of consumer behavior in the online streaming landscape. Full article

This study proposes the SMR Smart Net-Zero City (SSNC) framework—a scalable model for achieving carbon neutrality by integrating Small Modular Reactors (SMRs), renewable energy sources, and sector coupling within a microgrid architecture. As deploying renewables alone would require economically and technically impractical energy storage systems, SMRs provide a reliable and flexible baseload power source. Sector coupling systems—such as hydrogen production and heat generation—enhance grid stability by absorbing surplus energy and supporting the decarbonization of non-electric sectors. The core contribution of this study lies in its real-time data emulation framework, which overcomes a critical limitation in the current energy landscape: the absence of operational data for future technologies such as SMRs and their coupled hydrogen production systems. As these technologies are still in the pre-commercial stage, direct physical integration and validation are not yet feasible. To address this, the researchers leveraged real-time data from an existing commercial microgrid, specifically focusing on the import of grid electricity during energy shortfalls and export during solar surpluses. These patterns were repurposed to simulate the real-time operational behavior of future SMRs (ProxySMR) and sector coupling loads. This physically grounded simulation approach enables high-fidelity approximation of unavailable technologies and introduces a novel methodology to characterize their dynamic response within operational contexts. A key element of the SSNC control logic is a day–night strategy: maximum SMR output and minimal hydrogen production at night, and minimal SMR output with maximum hydrogen production during the day—balancing supply and demand while maintaining high SMR utilization for economic efficiency. The SSNC testbed was validated through a seven-day continuous operation in Busan, demonstrating stable performance and approximately 75% SMR utilization, thereby supporting the feasibility of this proxy-based method. Importantly, to the best of our knowledge, this study represents the first publicly reported attempt to emulate the real-time dynamics of a net-zero city concept based on not-yet-commercial SMRs and sector coupling systems using live operational data. This simulation-based framework offers a forward-looking, data-driven pathway to inform the development and control of next-generation carbon-neutral energy systems. Full article

Based on a comprehensive review of the current research status of ecological compensation both domestically and internationally, combined with field survey data, this study delves into the issue of multi-stakeholder participation in the ecological compensation mechanisms of the Xin’an River Basin. This research reveals that the joint participation of multiple stakeholders is crucial to achieving the goals of ecological compensation in river basins. The government plays a significant role in macro-guidance, financial support, policy guarantees, supervision, and management. It promotes the comprehensive implementation of ecological environmental protection by formulating relevant laws and regulations, guiding the public to participate in ecological conservation, and supervising and punishing pollution behaviors. The public, serving as the main force, forms strong awareness and behavioral habits of ecological protection through active participation in environmental protection, monitoring, and feedback. As participants, enterprises contribute to industrial transformation and green development by improving resource utilization efficiency, reducing pollution emissions, promoting green industries, and participating in ecological restoration projects. Scientific research institutions, as technology enablers, have effectively enhanced governance efficiency through technological research and innovation, ecosystem value accounting to provide decision-making support, and public education. Social organizations, as facilitators, have injected vitality and innovation into watershed governance by extensively mobilizing social forces and building multi-party collaboration platforms. Communities, as supporters, have transformed ecological value into economic benefits by developing characteristic industries such as eco-agriculture and eco-tourism. Based on the above findings, further recommendations are proposed to mobilize the enthusiasm of upstream communities and encourage their participation in ecological compensation, promote the market-oriented operation of ecological compensation mechanisms, strengthen cross-regional cooperation to establish joint mechanisms, enhance supervision and evaluation, and establish a sound benefit-sharing mechanism. These recommendations provide theoretical support and practical references for ecological compensation worldwide. Full article

The study examines economic and non-economic endeavors to explore the association between family involvement and financial decisions within family firms. The non-economic factors of a family drive the need to analyze the impact of socioemotional factors on the financial policies of the family firms. The study explores the impact of family ownership, family management, and family control drawn from agency theory and socioemotional wealth perspectives on the financial decisions of family firms. Our findings in support of the socioemotional wealth perspective show a positive relationship between family ownership and debt financing with a desire to finance growth and avoid control dilution, with an increase in the level of debt. However, the involvement of family members in management and the top management team leads to an adverse relationship between family ownership and debt level, exhibiting the risk-averse behavior of a firm, which drives firms to reduce debt levels. Overall, our findings suggest that the perceptions of the socioemotional wealth theoretical paradigm are important in determining capital structure decisions in family enterprises. The results are resilient to potential endogeneity and heterogeneity difficulties, which may assist scholars and practitioners in assessing capital structure decisions in emerging economies. Full article

This paper addresses the critical challenge of selecting suitable pile foundations in port engineering by systematically investigating the axial bearing behavior of large-diameter steel pipe piles and prestressed high-strength concrete (PHC) piles. The study integrates both numerical simulations and field tests within the context of the Yancheng Dafeng Port Security Facilities Project. A self-balanced static load numerical model for PHC piles was developed using Plaxis 3D, enabling the simulation of load-displacement responses, axial force transfer, and side resistance distribution. The accuracy of the model was verified through a comparison with field static load test data. With the verified model parameters, the internal force distribution of steel pipe piles was analysed by modifying material properties and adjusting boundary conditions. A comparative analysis of the two pile types was conducted under identical working conditions. The results reveal that the ultimate bearing capacities of the 1# steel pipe pile and the 2# PHC pile are 6734 kN and 6788 kN, respectively. Despite the PHC pile having a 20% larger diameter, its ultimate bearing capacity is comparable to that of the steel pipe pile, suggesting a more efficient utilisation of material strength in the latter. Further numerical simulations indicate that, under the same working conditions, the ultimate bearing capacity of the steel pipe pile exceeds that of the PHC pile by 18.43%. Additionally, the axial force distribution along the steel pipe pile shaft is more uniform, and side resistance is mobilised more effectively. The reduction in side resistance caused by construction disturbances, combined with the slenderness ratio (L/D = 41.7) of the PHC pile, results in 33.87% of the pile’s total bearing capacity being attributed to tip resistance. The findings of this study provide crucial insights into the selection of optimal pile types for terminal foundations, considering factors such as bearing capacity, environmental conditions, and economic viability. Full article

Having in view the current global disruptive social and economic landscape, sustainability becomes more important than ever. As producers become more concerned about adopting more sustainable practices, customer awareness towards sustainable behavior must be the focus of all stakeholders. Within this context, the SHIFT framework (proposed in 2019) highlights the manner in which consumers’ traits and attitudes influence their propensity towards sustainable consumption. It consists of five factors considered to be relevant to consumer behavior: Social influence, Habit formation, Individual self, Feelings and cognition, and Tangibility. Different from previous studies, this research focuses on applying the SHIFT framework to the automotive industry, taking into consideration the contribution of digital technologies to fostering sustainable consumer behavior throughout the entire product lifecycle. Using a qualitative research approach, the most relevant digital technologies in the automotive industry were identified and mapped in relation to the three phases of consumption (choice, usage, and disposal). The research aimed to develop and test an original conceptual framework, starting from the SHIFT. The results of the study highlight the fact that the digital technologies, in their diversity, are integrated in different ways into each of the three phases, facilitating the adoption of sustainable consumption. To achieve sustainability, the two key stakeholders, consumers and producers, should share a common ground on capitalizing the opportunities offered by digital technologies. Full article

Development of forming methods for surface-coated metals is a current concern due to their economic and environmental advantages. For a successful forming operation, it is necessary that both components, the substrate and the coating, are able to withstand stress without damage until the final shape and dimensions are reached. This goal can be achieved through good knowledge of the elastic and plastic properties of the substrate and the coating, the compatibility between them, the appropriate surface treatment, and the rigorous control of technological forming parameters. Our study was carried out with flat specimens of pre-painted Al 99.0 sheet that were electromagnetically formed by bulging. Forming behavior was investigated as depending on the initial thickness of the substrate, on the aluminum sheet pretreatment, as well as on the plastic deformation path of the metal–paint structure. To verify the damage to the paint layer, tests with increasing strains were performed, and the interface between the metal and the coating layer was investigated by scanning electron microscopy. The obtained results indicate that electromagnetic forming of pre-painted sheets can be a feasible method for specific applications if the forming degree of the substrate is tightly correlated with the type of desired coating and with the pretreatment method used for the metal surface. Full article

Upon reaching stabilized production in waterflooded reservoirs, waterflood performance curves are conventionally used to predict technically recoverable reserves (TRRs). However, as reservoirs enter high water-cut stages, the relationship between the relative permeability ratio and saturation becomes nonlinear, causing deflection in waterflood performance curves. This leads to systematic overestimation of both predicted TRR and ultimate recovery factors. To overcome these limitations in conventional TRR prediction methods, this study establishes a novel relative permeability ratio-saturation relationship based on characteristic relative permeability curve behaviors. The proposed model is validated for three distinct fluid-rock interaction types. We further develop a permeability-driven forecasting model for oil production rates and water cuts. Comparative analyses with a conventional waterflood curve methodology demonstrate significant accuracy improvements. The results show that while traditional methods predict TRR ranging from 78.40 to 92.29 million tons, our model yields 70.73 million tons—effectively resolving overestimation issues caused by curve deflection during high water-cut phases. This approach establishes a robust framework for determining critical development parameters, including economic field lifespan, strategy adjustments, and ultimate recovery factor. Full article