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In this study, the authors explore the association between employee education level and the efficiency of corporate investment using data from a sample of Chinese listed firms during the period from 2011 to 2018. By examining the impact of education on investment efficiency, the authors' study provides valuable insights that contribute to a deeper understanding of the underlying economic mechanisms related to education.

The authors conduct multivariate regression analyses to examine the relationship between investment efficiency (following Richardson, 2006) and the level of employee education, along with a series of control variables. To ensure the reliability of the authors' findings, the authors subject the their results to a comprehensive set of robustness tests, such as a staggered difference-in-difference (DiD) regression approach, an instrumental variable (IV) method and the use of alternative employee education level and investment efficiency measurements.

The findings offer compelling evidence that higher levels of education have a positive impact on firms' investment efficiency, and this effect remains robust across various model specifications and endogeneity considerations. Moreover, the influence of education is more pronounced in firms that prioritize employee training, maintain effective internal communication and offer attractive financial rewards. Furthermore, the results suggest that the relationship between education and investment efficiency is influenced by the firms' business nature and competitive environment. Factors such as business complexity, labor intensity and business location also play a role in shaping the impact of education on investment outcomes.

The study emphasizes the crucial role of education in influencing investment decisions and performance within firms. By delving into this previously unexplored area, the authors' research contributes to the existing literature, establishing that the level of employee education is a significant determinant of corporate investment efficiency. This valuable insight has substantial implications for firms aiming to enhance their investment decision-making processes and overall performance. Understanding the positive impact of education on investment efficiency can empower organizations to leverage their human capital effectively and achieve better investment outcomes, ultimately contributing to long-term success and competitiveness in the market.

The purpose of this paper is to assess the influence mechanism of the word-of-mouth reputation of influencers.

This study explored word-of-mouth reputation from four characteristics of information source of influencers: credibility, professionalism, interactivity and attractiveness. The grounded theory was used to extract the characteristic indicators of influencers and used questionnaire surveys to obtain 218 valid samples. The fuzzy-set qualitative comparative analysis (fsQCA) was used for the configuration analysis.

The results revealed the following: (1) a causal asymmetric correlation exists between the driving mechanism of high word-of-mouth reputation and non-high word-of-mouth reputation; (2) influencers matching high word-of-mouth reputation comprises potential, developmental and almighty types, whereas live streaming influencer matching non-high word-of-mouth reputation comprises elementary and groping types; and (3) all factors must be combined to play a role, and neutral permutations of two solutions were found among the three overall solutions to attain high word-of-mouth reputation; (4) the combination of high user activity and high exposure is the core configuration that results in high word-of-mouth reputation.

This study provides recommendation for consumers, live streamers, brand and e-commerce platform on how to promote the sustainable and healthy development of influencer marketing.

This study focused on elucidating how the characteristics of information source affect the word-of-mouth reputation of influencers and have a reference value for the research on word-of-mouth reputation in the context of live commerce.

China's economic transition is essentially the process of China's institutional changes. During the changes, the appearance of institutional innovation is not regular; instead, it is intermittent and random. The purpose of this paper is to show that the fitful appearance of institutional innovation is the root of China's economic growth and fluctuations.

This paper constructs a real business cycle (RBC) model introducing the institutional factor expressed in the quantitative form under the dynamic stochastic general equilibrium (DSGE) framework by measuring China's institutional changes quantitatively.

By comparing the characteristics of the actual economic data with those of the simulated economic data, we find that this RBC model can explain 94.44%, 66.07%, 23.46%, 21.03% and 15.45% of the cyclical fluctuations in output, investment, labor, consumption and capital, respectively.

The impulse response analysis finds that the institutional shocks have a relatively long duration, lasting about 30 years, and decline slowly over time, while technological shocks decline relatively fast, lasting approximately ten years.

The stability maintenance system has played an essential role in maintaining social stability although it also has brought about social problems worthy of attention. Admittedly compensation-based stability maintenance policy can address the appeals of citizens whose rights are infringed and the dissolving effect in the provision of compensation can save the cost of stability maintenance but such stability maintenance system lacks equilibrium.

The establishment of a strict assessment system for stability maintenance performance can encourage the stability maintenance authorities to eliminate the “fuse effect” as much as possible and ensure the effective implementation of the stability maintenance system. However, the rigorous stability maintenance performance assessment also provides the possibility for profit-driven petitions.

Due to the continuous accumulation of social dissatisfaction and the lack of stability maintenance equilibrium in the implementation of the compensation-based stability maintenance policy, public governance will fall into a stability maintenance paradox of “greater instability resulting from stability maintenance”.

The provision of sufficient means for the people to protect their interest by implementing measures such as strengthening the rule of law mechanisms is the key to achieve long-term social stability.

This paper examines the different features of China's economic development in different stages of economic globalization. The study finds that the investment- and export-based growth model drove China's high-speed economic growth between 2000 and 2007, which came into existence around 2000 when China plugged into the global production network.

This paper also finds that China slowed down to the New Normal because of the disruption to the socio-economic underpinnings of this growth model. As China adapts to and steers the New Normal, supply-side structural reforms can channel excess capacity to the construction of underground pipe networks in rural areas of central China and fix capital while advance rural revitalization.

At the same time, enterprises must strive to build a key component development platform for key component innovation and the standard-setting power in global manufacturing.

The establishment of a domestic production network integrating the integrated innovation-driven core enterprises and modular producers at different levels can satisfy the dynamic demand structure of China in which standardized demands and personalized demands coexist.

Over the past 20 years, China's infrastructure has developed at an extraordinary speed. The current literature mainly focuses on the effects of political incentives on the infrastructure. However, this paper indicates that the structural change of China's land regime is an important clue and that the supernormal development of China's infrastructure is an explicable result for that.

This paper theoretically proves that in a politically centralized and economically decentralized economic entity with a public land-ownership regime, the self-financing mechanism formed by local officials through regulation of the land-grant price is the primary factor that influences the optimal supply volume of infrastructure in a region, in addition to political and economic incentives, and whether the self-financing mechanism can be formed or not depends on the structure of a country's land regime, which can help to explain the difference between the development of infrastructure in China and that in other developing countries from a theoretical angle.

The paper suggests that the mode is facing an important transformation toward land reform and new-type urbanization construction, and the replication and promotion of China's experience in infrastructure construction are of further significance under the Belt and Road Initiative as it provides a method for helping developing countries to eliminate infrastructure bottlenecks.

Through the test of multinational panel data, the paper indicates that the structural change of China's land regime around 1990 had an overall effect on the supernormal development of infrastructure in China. The paper indicates that the “land-based development mode” of China's infrastructure indeed contributed to the supernormal development of infrastructure in China, but there are still some shortcomings in this mode.

The results of this study have significant policy implications for charting a new course toward enhancing agricultural productivity among Chinese farmers.

By establishing a rural household decision-making model based on the transfer market of farmland operation rights, this paper systematically analyzes the effects of land transfer-in and land transfer-out on the productivity (per labor income) of rural households. The authors conducted basic regression analysis and robustness tests using propensity score-matching and proxy variable approaches based on the micro survey data from rural households in 30 counties in 21 provinces/municipalities/autonomous regions in 2013.

After the completion of land transfer, the total productivity of rural households transferring in lands will increase with an increase in the agricultural productivity; the total productivity of rural households transferring out land will increase due to a rise in non-agricultural productivity and the absolute total productivity of rural households not involved in land transfer will remain unchanged.

Unlike previous literature, this paper discusses the impacts of land transfer-in and transfer-out on total productivity, agricultural productivity and non-agricultural productivity among various rural households (i.e. those transferring in land, transferring out land or which are self-sufficient).

This paper intends to provide a thematic literature review of the scholarly research articles orbiting the Sino–African education cooperation and exchange, published between 2005 and 2022.

The methodology used in this paper is qualitative in nature with a thematic approach. The author used content analysis techniques to spotlight the major themes of the topic studied. The author selected the papers and theses, based on their heuristic capacity, from two major databases for the English and Chinese literature: Web of Science and CNKI. The selection process resulted in 60 high-quality peer-reviewed articles and theses. Another 30 research articles and theses were used as supplementary resources.

The literature concentrates on six points: the historical development, the nature of the exchange, the frameworks of the cooperation, vocational training and knowledge transfer, African students in China and their experiences, and education cooperation and soft power. However, research tends to be somewhat polemical rather than an academic debate between Chinese researchers and their western peers. Therefore, empirical studies beyond the geopolitical preoccupations and the “YEA” or “NAY” to the Sino–African education exchange are critically needed.

The implications of this study go beyond the east/west or developed/developing world rhetoric and focus more on sustainable educational development on a global scale. Understanding how the literature on the Sino–African education engagement is shaping, provides valuable insights into international education in the global south. It can also be implied to approach educational engagement with other destinations such as India, Türkiye and Brazil.

This thematic literature review concentrates on the educational aspect of Sino–African relations. It compares English and Chinese peer-reviewed scholarly articles and theses on China–Africa educational engagement and has heuristic implications for sustainable educational development globally.

The purpose of this paper is to examine the interplay between police legitimacy and protest policing with reference to the case of Hong Kong.

This study will review the concepts of police legitimacy and protest policing and examine the evolving policing practices in Hong Kong since 2010.

The study argues that the increasing polarisation of society could render policing protest a potential source of problem for sustaining police legitimacy.

This is a pioneering study that looks at the interplay between police legitimacy and protest policing.

This study aims to develop a novel theoretical model for predicting the users’ intention to use virtual tools designed for construction risk evaluation. Risk evaluation is a vital objective for construction managers. This paper intends to examine critical factors such as potential benefits, motivation, performance expectancy and rich sources of information that may affect users’ intention to use virtual technology.

A pile training module (PTM) was developed in a virtual environment to analyze the proposed virtual reality-technology acceptance model (VR-TAM) factors. Further, a questionnaire survey was conducted with the participation of 102 construction professionals in China to validate the proposed VR-TAM model and PTM tool. The retrieved data was computed to test the proposed model by using partial least squares structural equation modeling and the significance of the PTM tool in a virtual environment.

The results of this study reveal that high-significance paths represent five relationships between crucial factors affecting users’ intention to use a selected virtual reality (VR) module. Five of seven hypothesis paths were significant with acceptable t-values. By quantitative measurement of high-significance paths, this research has found that each factor under VR-TAM has received significant loadings, with many above the 0.7 threshold mark and others around 0.6. The top factors include “motivation” and “benefits” and have multiplier effects on “intention to use” as the source factors.

The finding of this study presents crucial factors for VR adoption, and the proposed VR-TAM model contributes to the body of knowledge toward managing construction risk using pre-optimization and understanding in a virtual environment. This study supports Chinese construction company managers in effectively using VR technology in their construction projects for risk assessment and management.

This study offered the development of a novel VR-TAM integrated with risk assessment techniques for piling processes. Further, the developed model was analyzed by using a survey of Chinese construction professionals to collect perceptions about the modified theoretical model of VR-TAM.