Search results

This study aims to provide empirical evidence on the relationship between formal institutions and stock price crash risk from a global perspective.

This paper uses data of 35,468 firms globally over the years 1987–2019 and address the endogeneity issue by employing the Mundlak random effects estimator.

The authors find a significant negative impact of institution quality on stock price crash risk (i.e. better institutions reduce crash risk), after controlling for common determinants of crash risk such as leverage, return on asset, firm size, investment, etc. as well as macro factors such as GDP growth. This effect is robust to different measures of crash risk and sub-indicators of institutions quality. In addition, the authors also find this effect to be universally present in economies characterized by different levels of income.

To the best of the authors' knowledge, there's no known study that explores the potential causal relationship between institution quality and stock price crash risk. Therefore, the research topic in this study is original and can contribute significantly to the existing literature.

Although a plethora of literature has developed person–job fit theory, how leaders' emotions affect followers' person–job fit has received insufficient attention. Drawing on emotions as social information (EASI) theory, the present research study investigated the impact of leaders' positive emotions on person–job fit and further explained the mediating role of psychological safety and the moderating effect of organizational identification.

Data were collected from 319 Chinese employees nested in 67 teams, and a cross-level design was adopted to examine the research hypotheses.

The results indicated that individual-level psychological safety played a mediating role in the cross-level relationship between team-directed leaders' positive emotions and individual-level person–job fit. Moreover, the authors found a cross-level moderating effect of team-level organizational identification.

This present research empirically showed that leaders displaying positive emotions in the workplace benefited followers' perceptions of psychological safety, which in turn improved followers' attitudes towards their job in management practice. In addition, organizational identification could positively advance this process.

This study is the first to evaluate the operational mechanism of leaders' emotion on followers' perceived person–job fit in the Chinese context. Person–job fit has primarily been investigated as a driver of employee outcomes in the previous research studies. These studies focussed on whether and how leaders' emotions improve followers' person–job fit.

The article aims to investigate the effects of ownership and capital structure on postacquisition operating performance.

The article extends the ongoing literature from an operating loss perspective and provides empirical evidence on the probability of acquirers’ operating loss in relation to ownership and capital structure. The operating performance of publicly listed manufacturing firms in China was tracked up to five years since the completion of the mergers and acquisitions (M&A) during 2003–2014.

The empirical results show that, in a five-year postacquisition period, state-owned enterprises (SOEs) are more likely to experience operating loss than non-SOEs. The likelihood of the operating loss is negatively associated with ownership concentration, implying that concentrated ownership may serve as an effective corporate governance mechanism in the emerging economy and improve postacquisition performance. The rise in leverage increases the likelihood of postacquisition operating loss, indicating that the costs of debt may outweigh the benefits.

The findings contribute to the literature on ownership, debt governance and post-M&A performance from an emerging economy perspective.

The authors’ conclusions are based on mathematical derivations that are supported by computer simulations and three worked examples in applications of economics and finance. Finally, the authors provide a link to a computer program so that researchers can perform the analyses easily.

Based on a parameter estimation goal, the present work is concerned with determining the minimum sample size researchers should collect so their sample medians can be trusted as good estimates of corresponding population medians. The authors derive two solutions, using a normal approximation and an exact method.

The exact method provides more accurate answers than the normal approximation method. The authors show that the minimum sample size necessary for estimating the median using the exact method is substantially smaller than that using the normal approximation method. Therefore, researchers can use the exact method to enjoy a sample size savings.

In this paper, the a priori procedure is extended for estimating the population median under the skew normal settings. The mathematical derivation and with computer simulations of the exact method by using sample median to estimate the population median is new and a link to a free and user-friendly computer program is provided so researchers can make their own calculations.

This study aimed to propose a performance-oriented approach of automatically generative design and optimization of hospital building layouts in consideration of public health emergency, which intended to conduct reasonable layout design of hospital building to meet different performance requirements for both high efficiency during normal periods and low risk in the pandemic.

The research design follows a sequential mixed methodology. First, key points and parameters of hospital building layout design (HBLD) are analyzed. Then, to meet the requirements of high efficiency and low risk, adjacent preference score and infection risk coefficient are constructed as constraints. On this basis, automatic generative design is conducted to generate building layout schemes. Finally, multi-objective deviation analysis is carried out to obtain the optimal scheme of hospital building layouts.

Automatic generative design of building layouts that integrates adjacent preferences and infection risks enables hospitals to achieve rapid transitions between normal (high efficiency) and pandemic (low risk) periods, which can effectively respond to public health emergencies. The proposed approach has been verified in an actual project, which can help systematically explore the solution for better decision-making.

The form of building layouts is limited to rectangles, and future work can explore conducting irregular layouts into optimization for the framework of generative design.

The contribution of this paper is the developed approach that can quickly and effectively generate more hospital layout alternatives satisfying high operational efficiency and low infection risk by formulating space design rules, which is of great significance in response to public health emergency.

The authors derive the necessary mathematics, provide computer simulations, provide links to free and user-friendly computer programs, and analyze real data sets.

Cohen's d, which indexes the difference in means in standard deviation units, is the most popular effect size measure in the social sciences and economics. Not surprisingly, researchers have developed statistical procedures for estimating sample sizes needed to have a desirable probability of rejecting the null hypothesis given assumed values for Cohen's d, or for estimating sample sizes needed to have a desirable probability of obtaining a confidence interval of a specified width. However, for researchers interested in using the sample Cohen's d to estimate the population value, these are insufficient. Therefore, it would be useful to have a procedure for obtaining sample sizes needed to be confident that the sample. Cohen's d to be obtained is close to the population parameter the researcher wishes to estimate, an expansion of the a priori procedure (APP). The authors derive the necessary mathematics, provide computer simulations and links to free and user-friendly computer programs, and analyze real data sets for illustration of our main results.

In this paper, the authors answered the following two questions: The precision question: How close do I want my sample Cohen's d to be to the population value? The confidence question: What probability do I want to have of being within the specified distance?

To the best of the authors’ knowledge, this is the first paper for estimating Cohen's effect size, using the APP method. It is convenient for researchers and practitioners to use the online computing packages.

Early fault detection of bearing plays an increasingly important role in the operation of rotating machinery. Based on the properties of early fault signal of bearing, this paper aims to describe a novel hybrid early fault detection method of bearings.

In adaptive variational mode decomposition (AVMD), an adaptive strategy is proposed to select the optimal decomposition level K of variational mode decomposition. Then, a criterion based on envelope entropy is applied to select the optimal intrinsic mode functions (OIMF), which contains most useful fault information. Afterwards, local tangent space alignment (LTSA) is used to denoising of OIMF. The envelope spectrum of the OIMF is used to analyze the fault frequency, thereby detecting the fault. Experiments are conducted in a simulated signal and two experimental vibration signals of bearings to verify the effect of the new method.

The results show that the proposed method yields a good capability of detecting bearing fault at an early stage. The new method can extract more useful information and can reduce noise, which can provide better detection accuracy compared with the other two methods.

An adaptive strategy based on center frequency is proposed to select the optimal decomposition level of variational mode decomposition. Envelope entropy is used to fault feature selection. Combining the advantage of the AVMD-envelope entropy and LTSA, which suits the nature of the early fault signal. So, the proposed method has better detection accuracy, which provides a good alternative for early fault detection of bearings.

Relying on a multilevel approach, this paper investigates the day-to-day variations in family-supportive supervisor behaviors influencing subordinates' job stress, as well as the mediating role of positive emotions and the moderating role of ethical leadership.

Using the experience-sampling methodology, the study collected the data from 137 civil servants in China who responded to one daily survey for 10 working days.

With a total of 1,370 surveys, results supported the hypothesized model linking daily family-supportive supervisor behaviors to daily job stress via subordinates' daily positive emotions. In addition, the study found a moderating effect for ethical leadership positively in the indirect relationship between family-supportive supervisor behaviors and job stress.

The findings in this study serve practitioners in organizational and leadership development. For one thing, this study contributes to raising awareness about the importance of improving family-related support in the workplace in generating subordinates' positive emotions and relieving their job stress. For another, the findings highlight the necessity of cultivating ethical leadership for leaders.

This study fulfills an identified need to clarify how and when daily family supportive supervisor behaviors influence subordinates' daily job stress. This study moves beyond previous research by adopting the experience sampling method and demonstrating important cross-level effects of ethical leadership on the within-individual relationship between family supportive supervisor behaviors and job stress.

Pre-construction of a project comprises stages that are pivotal for the procurement performance. It is defined as the duration from the project's initiation to construction. However, Private Public Partnerships (PPPs) have been subjected to a long pre-construction, thereby leading to an inefficient development process. Therefore, the purpose of this paper is to pay attention to the influencing factors elongating the pre-construction duration.

Based on data of 5,677 PPP projects between 2009 and 2021 in China, the authors adopt the Accelerated Failure Time (AFT) model in duration analysis to empirically analyze the following underlying dynamics determining the duration of PPP pre-construction stages: (1) policy uncertainty; (2) corruption; and (3) procurement method selection. To observe the influencing paths more specifically, the authors divided the pre-construction duration into the pre-tendering period and tendering period and regressed them separately.

The results indicate that the pre-construction duration is significantly prolonged with increased policy uncertainty and corruption degree as well as the use of tendering methods. Meanwhile, the above factors have a greater impact on the pre-tendering period than the tendering period.

The contribution of this study is twofold: (1) theoretically, this paper provides new evidence on the impact of PPP policy uncertainty, corruption and procurement method selection on the pre-construction duration. It complements empirical studies on the factors elongating the time efficiency of PPPs projects. (2) In practice, it provides a specific path for the government to improve the time efficiency of PPPs.

College students who are interested in experiencing and learning about other cultures could be potential agents to ongoing social and policy initiatives in promoting societal changes. As universities intensify their efforts toward embracing cultural diversity, it is imperative to gauge how these diversity initiatives resonate with students' developmental stage and pursuits in diverse campus climates. However, what kinds of educational experiences/contexts students choose for enhancing cultural competence, and how seeking diversity experiences might benefit college students in emotional wellbeing and cognitive skills, are under-investigated.

This study explores the relationships among college students' diversity-seeking behaviors, cultural competence, perspective-taking, and flourishing. A total of 359 college students from a STEM-focused university participated in this study. Students were recruited from classes over four semesters, from 2021 to 2023.

Students exhibited moderate to high levels of interest in seeking diversity in their learning experiences. Results from the structural equation modeling showed that higher levels of diversity-seeking in learning were associated with higher levels of perceived cultural competence, as well as higher levels of perspective-taking and flourishing.

This research delves into experiential and extracurricular dimensions of learning diversity, bridging a significant gap in academic literature. This study also elucidates the links between aspects of diversity engagement, cultural competence, and positive outcomes for college students, which underscores the significance of diversity-focused educational opportunities in higher education. Such opportunities are instrumental in enhancing cultural proficiency and further implications on cognitive growth and emotional well-being.