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This paper explores the potential for family businesses (FBs) to play a pivotal role in advancing the United Nations (UN) Sustainable Development Goals (SDGs). It seeks to elucidate how FBs' inherent strengths and values can be harnessed to integrate sustainable practices within their operational paradigms.

The authors employed a literature review to synthesize all the information and identify how FBs' desire to pass on a healthy company to future generations encourages sustainable practices.

FBs have the potential to contribute significantly to not only their own sustainability but also the broader well-being of society by aligning with the SDGs.

This paper provides practical insights for stakeholders, policymakers and business leaders seeking to foster a more inclusive and environmentally responsible economic landscape.

This paper aims to propose a system for generating actionable knowledge from Big Data and use this system to construct a comprehensive knowledge base (KB), called GrandBase.

In particular, this study extracts new predicates from four types of data sources, namely, Web texts, Document Object Model (DOM) trees, existing KBs and query stream to augment the ontology of the existing KB (i.e. Freebase). In addition, a graph-based approach to conduct better truth discovery for multi-valued predicates is also proposed.

Empirical studies demonstrate the effectiveness of the approaches presented in this study and the potential of GrandBase. The future research directions regarding GrandBase construction and extension has also been discussed.

To revolutionize our modern society by using the wisdom of Big Data, considerable KBs have been constructed to feed the massive knowledge-driven applications with Resource Description Framework triples. The important challenges for KB construction include extracting information from large-scale, possibly conflicting and different-structured data sources (i.e. the knowledge extraction problem) and reconciling the conflicts that reside in the sources (i.e. the truth discovery problem). Tremendous research efforts have been contributed on both problems. However, the existing KBs are far from being comprehensive and accurate: first, existing knowledge extraction systems retrieve data from limited types of Web sources; second, existing truth discovery approaches commonly assume each predicate has only one true value. In this paper, the focus is on the problem of generating actionable knowledge from Big Data. A system is proposed, which consists of two phases, namely, knowledge extraction and truth discovery, to construct a broader KB, called GrandBase.

The primary purpose of this study is to investigate the effects of bank competition on SMEs' access to finance in selected Indian states. Using 9,281 firm-level observations from World Bank Enterprises Survey (WBES), this study tests the market power hypothesis versus the information hypothesis to determine whether bank competition promotes access to finance for financially constrained firms.

The authors measure state-level bank competition using two structural indicators: the Herfindahl Hirschman Index (HHI) and three bank concentration ratios (CR3). The authors apply simple probit regression, probit model with sample selection (PSS) and two-stage least squares (2SLS) to examine the effects of bank competition on firms' financing constraints.

The results obtained through PSS and 2SLS indicate that bank competition alleviates firm's financing constraints and positively impacts its need for a bank loan and the decision to apply for bank credit. However, the prevalence of bank competition in promoting access to finance is more pronounced for small and medium-sized firms than for large firms. Higher bank competition also alleviates the credit constraints faced by female entrepreneurs.

Reserve Bank of India (RBI) and other government stakeholders should ensure bank competition without hampering the agenda of bank consolidation to facilitate access to credit for SMEs. Regulators should also identify and monitor the financial institutions that make an insignificant contribution to promoting competitiveness in the financial system.

Previous studies primarily investigate the effect of bank competition on a firm's access to finance from advanced and cross-country perspectives. This study contributes to the literature on bank competition by examining its role in promoting access to finance from an emerging economy standpoint. Measurement of bank competition indicators at the state level is an additional contribution.

The purpose of this paper is to build a framework that intends to help organizations define, implement and control their corporate social responsibility (CSR) strategies. Based on the stakeholder perspective, this paper proposes a sustainability management control system (SMCS) specifically made for the definition and implementation of CSR strategy, by linking the firm’s material topics to its key stakeholders, thus, allowing our model to be dynamic to different business environments.

In this paper, the authors constructed their model based on a review of selective relevant studies about CSR and SMCSs. This paper also went through different practical concepts from leading sustainability guidelines and stakeholder’s engagement manuals, discussing the stakeholder identification and prioritization, to re-center the debate to the strategic importance of the stakeholder perspective in defining and implementing CSR strategy, as well as its importance in how organizations can define proxies to assess the performance of their CSR initiatives.

Adopting the stakeholder theory as a key lens to re-frame, organize and guide the debate over the performance consequences of CSR has the potential to overcome the simplistic and (eventual) misleading conceptions of CSR strategy implementation, thus fostering the move toward more effective and efficient CSR strategies, by developing management control system (MCS) typical for CSR issues.

The full process of the model outlined in this paper aims to provide a comprehensive and forward-looking tool for CSR and sustainability strategy implementation and assessment. Our model could help companies to gain an overview and an understanding of the relative importance of the material topics of their business activities that should be addressed and how they are related to the key stakeholders, thus, eventually leading to more equitable and sustainable social development by giving those who have a right to be heard the opportunity to be considered in the sustainability decision-making and strategy processes, in the aim of making valuable contributions to social, economic and environmental spheres.

The paper answers the call for research for developing novel theoretical foundations to design MCSs for CSR implementation. Therefore, the paper suggests an innovative model of SMCS for CSR strategy definition, development and implementation and helping organizations to define and develop key sustainability indicators specific to their business environment. The model also presents an opportunity to rethink and advance the understanding of how managers can prioritize competing stakeholders’ claims, which are constrained by the company’s business activities impacts.

Conventional electric heaters mostly use U-shaped electric heating tubes and the hollow tube electric heaters are new type ones that rely on the heat transfer tubes as heating elements. However, in the original design, the fluid flows through the annular gaps between the shell wall and the supporting plates, the chambers between supporting plates are generally stagnant zones. The purpose of study is to overcome these deficiencies.

A modified approach is proposed in which the heating tubes are surrounded by holes on the supporting plates, thus the stagnant flow zone can be eliminated and the heating surfaces of both inside and outside the tube can be fully used. Numerical simulations were carried out on four schemes of hollow tube electric heaters, i.e. plate blocked, countercurrent, parallel and split. The results show that the two schemes of parallel and split can reduce the temperature difference between the two sides of the fixed tube plate, and thus reduce thermal stress and prolong the service life.

The split scheme of electric heater has the highest comprehensive index, moderate heat transfer coefficient and minimum pressure drop on the shell side. Its average heat transfer coefficient and comprehensive index are, respectively, 15.7% and 52.9% higher and its average pressure drop and tube wall temperature are, respectively, 57.6% and 19 K lower than those of the original plate blocked scheme, thus it can be recommended as the best scheme of the hollow tube electric heaters.

Based on the original design of hollow tube electric heater with plate blocked scheme, three plate perforated schemes were proposed and investigated. The thermal and flow features of the four schemes were compared in terms of heat transfer coefficient, pressure drop and comprehensive index h_o·Δp_o^−1/3. The split scheme can reduce the temperature difference between two sides of the fixed tube plate with reduced thermal stress. It has moderate tube wall temperature and heat transfer coefficient, the smallest shell side pressure drop and the highest comprehensive index h_o·Δp_o^−1/3, and it can be recommended as the optimal scheme.

The main purpose of this paper is to enhance the control performance of the robotic arm by the controller of fuzzy neural network (FNN).

The robot system has characters of high order, time delay, time variation and serious nonlinearity. The classical PID controller cannot achieve satisfactory performance in control of such a complex system. This paper combined the fuzzy control with neural networks and established the FNN controller and applied it in control of the robot.

The experimental results showed that the FNN controller had excellent performances in position control of the rehabilitation robotic arm such as fast response, small overshoot and small vibration.

This work is focused on the static FNN algorithm by updating the second and fifth layers of the membership functions. The performance can be improved further if the third layer (reasoning layer) can be updated online.

Based on a hierarchical structure of the FNN controller, this paper designed the FNN controller and applied it in control of the rehabilitation robot driven by pneumatic muscles.

The purpose of this study is to investigate the effect of investment efficiency on cost of equity capital.

Prior research indicated that any governance mechanism which reduces the agency conflict reduces the cost of equity capital. This study provides empirical evidence that investment efficiency represents such governance mechanism which reduces agency conflict and hence cost of equity. The authors use price earning growth ratio (Easton, 2004) and Ohlson and Juettner-Nauroth (2005) model for the measurement of cost of equity while investment efficiency measure of Biddle et al. (2009) have been employed to examine the association. We also use Chen et al. (2013) measure of investment efficiency for robustness.

The results show that investment efficiency is negatively associated with cost of equity. It was also found that there is a strong relationship of investment efficiency with cost of equity for non-state-owned enterprises (NSOEs), while no significant relationship is found for state-owned enterprises. Furthermore, overinvestment is significantly associated with cost of equity capital. However, no significant relationship was found between underinvestment and cost of equity.

The results provide empirical support to the argument that investment efficiency acts as a mechanism which represents lower agency conflict. Moreover, the findings provide evidence that government act as “deep pocket” while NSOEs are punished by investors for inefficient resource allocation. This study also proposes that there is a positive relationship between overinvestment and cost of equity.

This paper aims to provide a new drilling entry board for printed circuit board (PCB) process, superior in heat dissipation, lubrication, water solubility and hole location accuracy, achieving an excellent drilling process.

Using a mixture of polyethylene glycol (PEG) and water-soluble adhesives as hydrosoluble, endothermic and lubricant resins and aluminum foils as baseplates, a series of coated and aluminous entry boards (CABs) for PCB drilling was successfully prepared. The surface appearance of the entry boards was observed clearly by scanning electron microscopy (SEM). The endothermic and lubricant effects of the resins applied on the CABs was characterized by differential scanning calorimetry (DSC) and their water solubility was tested in the normal-temperature water (25°C). Moreover, the CABs’ good drilling properties were tested when they were used for PCB drilling.

The SEM analysis showed that the surfaces of the resin layers coated on the CABs whose coating thicknesses were less than 80 μm were smoother and flatter, which could improve hole location accuracy and reduce drill breakage ratio. By virtue of DSC, the endothermic and lubricant effects of the CABs were proven. The fusion of PEG in the resin layers could absorb the heat produced by drilling, restrain the temperature of the drill bit and hole rising and lubricate the drill bit efficiently when a hole was being drilled, which could achieve high-quality holes with good production efficiency. The water-soluble test showed that the prepared CABs had excellent water solubility at normal temperature, enabling the resin left on the hole walls and in the flute of the drill bit to be washed away easily and thereby improving the drilling efficiency and quality. The drilling tests showed that the increase in the thickness of the CABs’ coating could improve the hole location accuracy and alleviate the bit wear. In addition, the suitable coating thickness could ensure the firm adhering of the resin coating the aluminum foil, effectively avoid drill intertwist and prevent the resin debris from blocking the drilled holes on the surface of the entry board, which could hinder chip removal, resulting in poor hole wall quality and drill breakage.

This paper has a remarkably high industrial practicality in the PCB manufacture process.

This paper aims to collect and compile the historical data of Guanfu Salt Farm, officially built by the Song Dynasty (960–1279) within modern Hong Kong territories, to reconstruct its history for the reflection of Hong Kong society of the time.

This paper is largely based on identification and analysis of historical documents, including keyword search on electronic databases and verification with the original sources, with reference to archaeological findings when necessary.

This paper reconstructs the history of Guanfu Salt Farm based on documentary sources with reference to archaeological findings. English translation of Chinese sources is also provided when necessary.

There has been an absence of systematic compilation of historical data of Hong Kong during the Song Dynasty, which are limited in quantity and scattered across different sources. This paper seeks to fill the vacuum of knowledge about pre-colonial Hong Kong, with a more comprehensive reconstruction of the history of Guanfu Salt Farm.

The purpose of this paper is to investigate the relevance of credit supply for corporate capital structure decisions of manufacturing firms in Pakistan.

The implicit assumption in much of the work on capital structure is that for a firm, the availability of incremental capital depends solely on its characteristics. However, the capital market frictions suggest that suppliers of credit may also affect firms’ ability to borrow. The authors investigated this intuition by employing dynamic panel data estimators using 8,984 firm-year observations for the period 1990-2010.

The results show that short-term debt is a major source of financing in these firms. Further, credit supply plays a significant role in these firms’ capital structure decisions and hence, they increase their short-term debt (main financing source) with an increase in credit supply in the market while payoff their long-term debt with internal funds.

The findings of this study can enhance the practitioners’ and analysts’ understanding of capital structure of manufacturing firms in a bank dominated financial system, like Pakistan. Also, it can provide them more insight in understanding the alternative choices of financing and the reasons why firms prefer one over the other.

To the authors’ best knowledge, this is the first study in Pakistan that considers both supply-side as well as demand-side factors of capital structure and applies dynamic panel data techniques.