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This paper aims to examine the relation between managerial ability and stock price crash risk, conditional on managerial overconfidence. In addition, conditional on managerial overconfidence, the authors investigate the effect of managerial ability on firms’ choice of bad news hoarding channels, which result in a stock price crash.

Using a sample of 24,289 firm-years from companies listed on Compustat and CRSP from 1994 to 2018, the authors conduct panel regression analysis.

The authors find that managerial ability is positively associated with stock price crash risk only when managerial overconfidence is high. Furthermore, the authors find that managerial ability seems to exacerbate (attenuate) the bad news withholding by the overconfident managers using the earnings guidance (earnings management) channel. The authors find limited evidence that high-ability managers are likely to withhold bad news through the overinvestment channel and “other channels” when managers are overconfident. Finally, the authors find that the joint effect of managerial overconfidence and managerial ability on firms’ crash risk is more pronounced when there is a material weakness in firms’ internal controls, high investor belief heterogeneity and high information asymmetry. However, this effect appears to dissipate during the recent financial crisis in 2008.

This research reveals that managerial ability is costly to firms by engendering bad news hoardings and stock price crash risk when managers are overconfident. It also sheds light on how managerial overconfidence and managerial ability affect managers’ choice of bad news withholding channels and stock price crash risk. Finally, the paper is of practical value to the board of directors in selecting the prospective executives.

This paper aims to investigate whether the two dominant financial reporting regimes, US Generally Accepted Accounting Principles (US GAAP) and International Financial Reporting Standards (IFRS), are associated with audit pricing and audit report lags.

In 2007, the US SEC eliminated the requirement for foreign registrants to reconcile their financial statements to US GAAP from IFRS. In this post-reconciliation setting in the USA, the authors use panel ordinary least square regressions to examine a sample of foreign firms cross-listed in the USA reporting under IFRS and US domestic firms reporting under US GAAP during the fiscal year 2007–2019.

The authors find that the firms reporting under IFRS have longer audit report lags than firms reporting under US GAAP. In addition, the authors find that firms reporting under IFRS pay higher audit fees than their US GAAP counterparts. The results are robust after controlling for the firm- and country-specific characteristics as well as using propensity-score matching.

To the best of the authors’ knowledge, this study is the first to provide empirical evidence that the differences between the two reporting regimes are associated with auditor behavior, possibly through additional audit efforts and audit complexity associated with auditing the principle-based IFRS relative to the rule-based US GAAP.

This study aims to evaluate the characteristics of climate change in Yunnan minority areas and identify an effective path to promote sustainable livelihoods based on climate change.

Taking Yunnan Province as an example, based on the expansion of the traditional sustainable livelihood framework, the authors constructed a system dynamics (SD) model of sustainable livelihood from the six subsystems of natural, physical, financial, social, human and cultural and tested the accuracy and effectiveness of the model with data from Cangyuan County. By adjusting these parameters, five development paths are designed to simulate the future situation of the livelihood system and determine the optimal path.

Climate change has exacerbated the vulnerability of people’s livelihoods. In future, each of the five development paths will be advantageous for promoting sustainable livelihoods. However, compared with Path I (maintaining the status quo), Path III (path of giving priority to culture) and Path IV (path of giving priority to economic development) have more obvious advantages. Path II (path of giving priority to people’s lives) gradually increases the development rate by promoting people’s endogenous motivation, and Path V (path of coordinated development) is better than the other paths because of its more balanced consideration.

The analytical framework of sustainable livelihoods based on the characteristics of minority areas is broadened. By constructing a SD model of the livelihood system, the limitations of traditional static analysis have been overcome and a development path for promoting sustainable livelihoods through simulation is proposed. This study offers a theoretical framework and reference method for livelihood research against the backdrop of climate change and a decision-making basis for enhancing climate adaptability and realizing sustainable livelihoods.

Does the choice of listing process matter in determining a firm's future crash risk? It is understood that the main function of an equity market is to provide price discovery, however, it is not clear whether the choice of listing methods would matter to the shareholders' wealth in the long term. We are the first to answer this question by utilising a hand-collected dataset that identifies all companies that went public via reverse merger (RM) in a growing emerging market.

Using hand-collected data from 2000 to 2018 in China, we follow the literature to construct two crash risk measures for RM and IPO firms. Our main analysis is performed using OLS regressions on the full sample as well as a sample using Propensity Score Matching. Our results hold with a number of robustness checks.

We find that reverse merger (RM) firms exhibit higher future stock price crash risk than initial public offering (IPO) firms. This relationship is more predominant in non-state-owned enterprises, and we find weak evidence suggesting such relationship weakens as firms stay longer in the market. There is no significant difference in future stock price crash risk between RM firms listed during IPO suspension periods and normal IPO firms.

We are the first to study the choice of listing method and its impact on firms' future stock price crash risk.

Membrane biological reactor (MBR) is recognized as an efficient and steady wastewater treatment process. The purpose of this study is to reveal the research trends of scientific outputs on MBR for the past 32 years.

A method of bibliometric analysis was performed, based on the online version of the Science Citation Index Expanded, Web of Science, from 1982 to 2013. In total, 5,305 articles related to MBR were evaluated. A new method named “word cluster analysis” was also used for further analysis.

Results showed a rising trend of publications in this research field. English was the main language used in these articles. Journal of membrane science published the most articles, proving to be one of the most authoritative journals. China and Dalian University of Technology were the most productive country and institute, respectively. Except for “membrane bioreactor” and “MBR”, “membrane fouling” was the most cited keyword, indicating the research hotspot nowadays and future.

This study serves as an alternative and innovative way of revealing the research trends in MBR research.

In the construction of charging piles, traditional gas stations possess significant advantages in terms of regional and financial resources. The transformation of gas stations into “refueling+charging” integrated gas stations relies on charging pile manufacturers and government, involving coordination issues with them. This paper aims to propose a joint coordination contract based on the principles of cost-sharing and revenue-sharing. The objective is to achieve systemic coordination among integrated gas stations, charging pile manufacturers, and the government, optimizing the planning of the quantity of charging piles and charging prices.

We have constructed an operational system model based on the Stackelberg game between charging pile manufacturers, integrated gas stations, and government. We have analyzed the optimal quantity of charging piles and charging prices under the impact of government subsidy policies in both decentralized and centralized operation scenarios. Additionally, we have proposed a joint coordination contract based on cost-sharing and revenue-sharing to coordinate this tripartite operational system.

The study reveals that, under simple cooperative contracts, the optimal decision does not yield maximum profits for the operational system due to the “double-marginal effect”. However, under the impact of the joint coordination contract, which combines cost-sharing and revenue-sharing as proposed in this paper, gas stations will consider the charging pile manufacturer’s costs and government subsidies when determining the optimal quantity and price. This not only achieves system coordination but also results in Pareto improvement in the benefits of all system members by adjusting contract parameters.

The value of this research lies in its insights into operational strategies for the construction of charging piles for electric vehicles. By analyzing optimal decisions under different contract arrangements, the study provides guidance to relevant stakeholders, enabling the operational system to achieve greater efficiency and coordination and realize more extensive Pareto improvements. Furthermore, it extends the application of coordination contract theory in the context of charging pile construction and operations.

The purpose of this study is to analyze state-of-the-art knowledge of artificial intelligence (AI) research in hospitality.

This study adopts the theory-context-methods framework to systematically review 100 AI-related articles recently published (i.e. from 2021 to April 2023) in three top-tier hospitality journals, namely, the International Journal of Contemporary Hospitality Management, International Journal of Hospitality Management and Journal of Hospitality Marketing and Management.

Findings suggest that studies of AI applications in hospitality are mostly theory-driven, whereas most AI methods research adopts a data-driven approach. State-of-the-art AI applications research exhibits the most interest in service robots. In AI methods research, little attention was paid to the amid-service/experience.

This study reveals inadequacies in theory, context and methods in contemporary AI research. More research from hospitality suppliers’ perspectives and research on generative AI applications are advocated in response to the unveiled research gaps and recent AI developments.

This study classifies the most recent AI research in hospitality into two main streams – AI applications research and AI methods research – and discusses the gaps in each research stream and latest AI developments. The paper then suggests future research directions to guide researchers in advancing AI research in hospitality.

Motivated by the real-world practice of the thriving e-commerce, manufacturers are transcending traditional boundaries of merely producing and selling directly by implementing encroachment. Concurrently, supply chain (SC) members who overlook the corporate social responsibility (CSR) sharing will be left behind, which is closely linked to their profits. This paper aims to investigate a better way to share CSR under the scenarios of manufacturer encroachment and no-encroachment.

This paper constructs game-theoretic models in a SC consisting of a manufacturer (M) and a retailer (R), where the manufacturer can sell products by retailing, and may sell directly by implicating encroachment. The manufacturer and retailer jointly consider whether to share CSR and the proportion of it by taking consumer surplus into account. Furthermore, equilibriums for each model are derived using backward induction. Then, the authors analyse the impact of CSR sharing proportion and compare the equilibrium outcomes under different scenarios. Finally, the numerical analyses are presented to verify the results.

Several interesting results are found in this paper. First, the retailer shares more CSR can benefit SC members and social welfare when the manufacturer does not implement encroachment. However, the results may change which is decided by the unit cost of encroachment when the manufacturer does so. Second, the proportion of CSR shared by manufacturer and the unit cost of encroachment has an interactive impact on equilibrium outcomes. Finally, both manufacturer encroachment and SC members share CSR may be the best for the perspective of SC members and consumers.

Based on the analytical results, this paper provides novel managerial implications to assist manufacturer and retailer in determining the optimal strategies for CSR sharing and encroachment. Furthermore, the appropriate proportion of CSR shared by manufacturer and the unit cost of encroachment may let manufacturer, retailer and consumer surplus achieve a win-win-win situation.

To the best of the authors’ knowledge, this paper is the first attempt to explore the strategy of CSR sharing under the scenarios of manufacturer encroachment and no-encroachment.

This study explores the influence of heritage brand extension on consumer purchase intention and analyses the effects of pop culture involvement. The extension of heritage brands is becoming increasingly difficult because such an extension needs to be consistent with the unique characteristics of brands and resonate with consumers. However, few scholars discuss the influence of consumers' level of pop culture involvement on brand extension and purchasing behaviour.

Taking time-honoured brands as an example, this study established a conceptual model based on a comprehensive review of the literature, and then tested the model using a sample of 255 respondents who were familiar with one of the selected Chinese time-honoured brands. Structural equation modelling was used to analyse the relationships amongst brand extension fit, pop culture involvement, perceived value and purchase intention.

Time-honoured brand extension fit has a positive impact on consumer purchase intention, and this path is significantly influenced by the mediation mechanisms of perceived value. Situational pop culture involvement can significantly strengthen the relationship between time-honoured brand extension fit and perceived value, whereas enduring pop culture involvement does not.

The results clarify and expand on the different roles of cultural involvement in time-honoured brands and broaden research on the influence of cultural involvement in this regard. This study has significant theoretical value for the inheritance and revival of heritage brands and provides a reference for the practice of time-honoured brands.