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The objective of this study is to investigate how the coronavirus disease 2019 (COVID-19) pandemic affects firms' financial management in China's manufacturing sector. In addition, the authors analyze the changes in various financial indicators before and during the COVID-19 pandemic. Further, the authors make a cross-country comparison of the COVID-19's impact on financial management between China and Romania.

The study uses the balanced panel data of 2,272 manufacturing listed companies from 2019 to 2020, and applies the t-test method and multiple regression method.

The results show that firms' financial performance in most manufacturing sub-sectors decreased during the observed period. In addition, the authors find that equity financing, proper liquidity management and an expanded firm scale can improve firms' financial performance. The authors further compare the results with the Romanian results, and find that the negative impact of debt-to-equity ratio on firms' financial performance in Romania is greater than that in China and the positive impact of financial autonomy ratio and working capital ratios is greater in China than that in Romania.

The findings can help corporate managers make the best financial management decision in response to crisis.

This study is one of the pioneers that analyze how manufacturing companies carried out their financial management during the COVID-19 crisis in the Chinese context, and provides a cross-country analysis of corporate financial management practices in China and Romania.

Under the background of rapid urbanization, all kinds of urban water problems have gradually come into being: local flooding frequently happens, water environment is deteriorated, water-supply is in tension, etc. Meanwhile, with rapid development of higher education in China, campus area and scale are gradually expanding, but traditional campus construction has many drawbacks. In order to promote sponge campus planning and construction of universities in hilly areas and provide demonstration windows for sponge city construction, based on deficiencies of campus construction of Hunan City University in the aspect of water resource utilization, we used ArcGis spatial analysis method, simulation method and comparative analysis method on Storm Water Management Model (SWMM) to establish sponge campus construction indexes, content system and optimal design strategies with objectives of campus water safety, water environment and water resource utilization. Results indicate that: difference between sponge campus planning and traditional campus planning mainly lies in rainfall management. We combed the design process of sponge campus planning in hilly areas from the perspective of rainfall management, and simulated the process of sponge facilities controlling the rainfall in the campus via computer model to verify reasonability of sponge facility planning and select the optimal planning and construction plan. This study has defined design process of sponge campus planning in hilly areas to a certain degree and provided a research basis for sponge campus planning and construction of universities, setting up a typical example and driving effects on solving urban local flooding problem and rainfall resource utilization in hilly areas.

Ethical decision making, business ethics.

This case is applicable to MBA, EDP and EMBA courses.

TOREAD, a professional provider of outdoor equipment in China, started in business by producing and selling tents. To meet market demand, TOREAD expanded its product line which ranges from outdoor durable tent products to “pan-outdoor” products including footwear and clothing. During the critical expansion phase, TOREAD was challenged by a quality problem in a batch of outsourced sandals that had been manufactured by a contracted supplier. By researching different options and going through an ethical decision making process, TOREAD made the choice of destroying all “problem sandals”. Since then, TOREAD has focused development on product quality improvement and product innovation to establish a sustainable brand image and generate social benefits. TOREAD's decision making in the critical development phase helped it to become the leader in the outdoor product industry in China.

This case may be used for courses such as business ethics and strategy. By learning this case, students can understand the process of making ethical decisions when facing moral dilemmas among corporate decision makers, employees and relevant interested parties, and learn how to make strategic decisions to balance company profit growth and social benefits in critical development phases.

Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

This paper aims to explore the impact of a firm’s political connections on its economic value added (EVA) performance while treating connection heterogeneity and product diversification as moderators.

Based on data collected from 1,143 Chinese manufacturing listed firms in China’s A-share market from 2012 to 2017, this study conducted panel data analysis to investigate proposed relationships.

The findings provide evidence that political connections promote EVA performance of enterprises and both connection heterogeneity and product diversification negatively moderate the political connections – EVA performance relationship.

Drawing sights from the resource-based view, this study investigates the influence of corporate political connections on EVA performance, considering contingent factors of connection heterogeneity and corporate strategy (i.e. product diversification). It, thus, contributes to the literature on political connections by providing additional evidence to explaining the inconclusive findings on the political connections–firm performance relationship and extending prior research by emphasizing the moderating roles of connection heterogeneity and corporate strategy. It also complements prior research on EVA performance by exploring its antecedents.

This paper aims to evaluate the separation and purification characteristics of flavonoids from polygonum cuspidatum (PC) extracts by using macroporous adsorption resins (MAR) mixed bed to improve the utilization rate of flavonoids.

Taking the separation performance of flavonoids as an evaluation index, the best MAR were screened from 31 sorts of MAR and combined the best MAR to form a MAR mixed bed for adsorption and separation of flavonoids.

By studying the separation conditions that affect flavonoids, the results showed that resin LZ-72 has best separation and purification effect on flavonoids under the optimal adsorption and desorption conditions, the purity of the obtained flavonoid compound reaches 82.50%, 2.66 times of the initial extract, and the recovery rate reaches 89.70%. Theoretical research results have shown that the adsorption of flavonoids by MAR conforms to the pseudo-second-order kinetics and Freundlich models.

Because the flavonoids in PC have great medicinal value, the purpose of this work is to develop a method of separating and purifying flavonoids from PC, which will provide a certain foundation for the development of medicine.

This contribution provided a novel way to separate flavonoids from PC. Under the optimal conditions, the content of flavonoids in the product was increased 2.66-fold from 31.01% to 82.50%, and the recovery yield was 89.70%.

Despite the fact that user participation (UP) has been highlighted as an important aspect in innovation, previous findings on its relationship with service innovation performance (SIP) are inconsistent. This study aims to investigate the relationships among UP, knowledge management capability (KMC) and SIP, especially in the digital age, inspired by the theories of knowledge-based and absorptive capacity.

Based on a sample of 252 Chinese e-commerce enterprises, this study adopts a hierarchical regression analysis and bootstrap method to test the theoretical framework and research hypotheses.

UP and KMC have positive effects on SIP, respectively. KMC plays a mediating role in the effect of UP on SIP. Furthermore, the intermediary role of KMC varies in different sub-paths between UP and SIP.

First, this study provides some explanations for inconsistent arguments on the relationship between UP and service innovation. Second, with the consideration of specific dimensions of UP and SIP, the mediation role of KMC varies in different sub-paths has been recognized, which provides a deeper understanding of the relationship between UP and SIP. Third, this study opens the discussion about how to realize SIP more effectively in the digital age, advancing theoretical and practical developments on service innovation.

With the rapid development of materials informatics and the Semantic Web, the semantic-driven solution has emerged to improve traditional query technology, which is hard to discover implicit knowledge from materials data. However, it is a nontrivial thing for materials scientists to construct a semantic query, and the query results are usually presented in RDF/XML format which is not convenient for users to understand. This paper aims to propose an approach to construct semantic query and visualize the query results for metallic materials domain.

The authors design a query builder to generate SPARQL query statements automatically based on domain ontology and query conditions inputted by users. Moreover, a semantic visualization model is defined based on the materials science tetrahedron to support the visualization of query results in an intuitive, dynamic and interactive way.

Based on the Semantic Web technology, the authors design an automatic semantic query builder to help domain experts write the normative semantic query statements quickly and simply, as well as a prototype (named MatViz) is developed to visually show query results, which could help experts discover implicit knowledge from materials data. Moreover, the experiments demonstrate that the proposed system in this paper can rapidly and effectively return visualized query results over the metallic materials data set.

This paper mainly discusses an approach to support semantic query and visualization of metallic materials data. The implementation of MatViz will be a meaningful work for the research of metal materials data integration.

In spite of the vehicle, magnetic field interference can be reduced by some measures and techniques in ammunition design and manufacturing stage, the corruption of the vehicle magnetic field can still reach hundreds to thousands of nanoteslas. Besides, the magnetic field that the ferromagnetic materials generate in response to the strong magnetic field in the vicinity of the body. So, a real-time and accurate vehicle magnetic field calibration method is needed to improve the real-time measurement accuracy of the geomagnetic field for spinning projectiles.

Unlike the past two-step calibration method, the algorithm uses a linear model to calibrate the magnetic measurement error in real-time. In the method, the elliptical model of magnetometer measurement is established to convert the coefficients of hard and soft iron errors into the parameters of the elliptic equation. Then, the parameters are estimated by recursive least square estimator in real-time. Finally, the initial conditions for the estimator are established using prior knowledge method or static calibration method.

Studies show the proposed algorithm has remarkable estimation accuracy and robustness and it realizes calibration the magnetic measurement error in real-time. A turntable experiments indicate that the post-calibration residuals approximate the measurement noise of the magnetometer and the roll accuracy is better than 1°. The algorithm is restricted to biaxial magnetometers’ calibration in real-time as expressed in this paper. It, however, should be possible to broaden this method’s applicability to triaxial magnetometers' calibration in real-time.

Unlike the past two-step calibration method, the algorithm uses a linear model to calibrate the magnetic measurement error in real-time and the calculation is small. Besides, it does not take up storage space. The proposed algorithm has remarkable estimation accuracy and robustness and it realizes calibration the magnetic measurement error in real time. The algorithm is restricted to biaxial magnetometers’ calibration in real-time as expressed in this paper. It, however, should be possible to broaden this method’s applicability to triaxial magnetometers’ calibration in real-time.

The purpose of this paper is to design a smart handheld device with force regulating function, which demonstrates the concept of patient-specialized tools.

This handheld device integrates an electrical bioimpedance (EBI) sensor for tissue measurement and a constant force regulation mechanism for ensuring stable tool–tissue contact. Particular focuses in this study are on the design of the constant force regulation mechanism whose design process is through genetic algorithm optimization and finite element simulation. In addition, the output force can be changed to the desired value by adjusting the cross-sectional area of the generated spring.

The following two specific applications based on ex vivo tissues are used for evaluating the designed device. One is in terms of safety of interaction with delicate tissue while the other is for compensating involuntary tissue motion. The results of both examples show that the handheld device is able to provide an output force with a small standard deviation.

In this paper, a handheld device with force regulation mechanism is designed for specific patients based on the genetic algorithm optimization and finite element simulation. The device can maintain a steady and safe interaction force during the EBI measurement on fragile tissues or moving tissues, to improve the sensing accuracy and to avoid tissue damage. Such functions of the proposed device are evaluated through a series of experiments and the device is demonstrated to be effective.

Human group behavior is the driving force behind many complex social and economic phenomena. Few studies have integrated multi-dimensional travel patterns and city interest points to construct urban security risk indicators. This paper combines traffic data and urban alarm data to analyze the safe travel characteristics of the urban population. The research results are helpful to explore the diversity of human group behavior, grasp the temporal and spatial laws and reveal regional security risks. It provides a reference for optimizing resource deployment and group intelligence analysis in emergency management.

Based on the dynamics index of group behavior, this paper mines the data of large shared bikes and ride-hailing in a big city of China. We integrate the urban interest points and travel dynamic characteristics, construct the urban traffic safety index based on alarm behavior and further calculate the urban safety index.

This study found significant differences in the travel power index among ride-sharing users. There is a positive correlation between user shared bike trips and the power-law bimodal phenomenon in the logarithmic coordinate system. It is closely related to the urban public security index.

Based on group-shared dynamic index integrated alarm, we innovatively constructed an urban public safety index and analyzed the correlation of travel alarm behavior. The research results fully reveal the internal mechanism of the group behavior safety index and provide a valuable supplement for the police intelligence analysis.