bluuebunny/crossref_metadata_2025_split huggingface dataset:
The new monetary policy regime under central bank’s abundant balance sheet: the case of the Federal Reserve
Authors: Siokis Fotios 
Published: June 2024

Purpose
The transmission of monetary policy has received considerable attention due to the sizable enlargement of the Federal Reserve’s balance sheet and consequently of the large reserve balances held by the Depository Institutions. This paper aims to investigate whether changes in the quantity of the reserve balances during the so-called normalization period and the COVID-19 crisis put significant pressure on short-term interest rates and specifically on the Effective Federal Funds rate (EFFR).

Design/methodology/approach
Under the new monetary policy regime, with two newly administered interest rates, the authors use the spread of the Federal Funds rates and the Interest on Reserve Balances (as a measure of the price of liquidity. With the means of various models such as the structural vector autoregression, the authors investigate, for two different subsample periods, the effectiveness of the monetary policy and the creation of (any) liquidity effects.

Findings
The results showed that when the Fed decreases its balance sheet size, during the normalization period, significant liquidity effects are present meaning that the authorities could influence the stage of the short-term interest rates under the new monetary policy regime. However, this relationship appears to weaken considerably as the level of reserve balances, particularly in response to the COVID-19 pandemic, increases substantially. The authors enriched the findings by highlighting the role of the benchmark repo rate. During the COVID-19 period, and in light of abundant reserve balances, the repo rate reacts more vigorously to a reduction in reserves, whereas an increase in the repo rate seems to exert a strong positive influence on the EFFR.

Originality/value
The findings are very important for the efficiency of the monetary transmission mechanism. An expanded balance sheet is still considered an arcane concept in regard to the structure and its effects on monetary policy implementation. This is one of the only few studies that investigates the effect of the abundant reserve balances on the short-term interest rates for two different in nature subsample periods. It shows as well the interplay between short-term interest rates, secured and unsecured.
Employee ownership in China: new evidence
Authors: Pan Huifen 
Published: June 2024

PurposeWith specific big-data mining worked on 61,522 firm announcements, we discovered a diverse Employee Share Ownership Plan (ESOP) model in China, called “Core-Staff-Based ESOPs.” Distinct from standard broad-based or executive-based ESOPs, these specific targeted-broad-based ESOPs require the qualification for participants, involving the participation of senior executives, directors at the middle level and any other employees that make particular contributions to firms. We take on the challenge to analyze ESOP mechanism, firm characteristics and performance in the view of organizational ecology and resource-based choice-making, and explore which factors have influenced the ESOP development in China.Design/methodology/approachWe utilize a combination of approaches including qualitative and quantitative methods, and construct the main database of 117,767 firm-quarter data.FindingsFirstly, based upon our institutional research, we find no coercive mechanisms that force all the Chinese listed firms to implement ESOPs since 2005. Secondly, our binary logistic regressions identify ESOP firms’ specific properties significantly distinct from non-ESOP firms, and draw profiles for these ESOP firms. Thirdly, our panel regression test results sustain the rational of ESOP mechanism, demonstrating that ESOPs enable Chinese firms to improve performance both in profits and their industry positions. Finally, with further quantitative tests, we find out this ESOP design’s limitations and the heterogenous effects due to China’s environments.Originality/valueThe discovery of Core-staff-based ESOPs contributes a diversity to the standard framework of ESOPs, enhances our understanding of China’s ESOP development, and provides new evidence for ESOP performance.
How to improve the quality of emergency supplies? A tripartite evolutionary game model
Authors: Wang Yue , Liu Ming , Viana Joe , Dube Nonhlanhla 
Published: June 2024

PurposeProviding quality emergency supplies is crucial to mitigate and respond to emergencies. However, despite government and consumer oversight of emergency supplies’ quality, a troubling trend persists among some enterprises to sacrifice product quality for financial gain. This paper examines the influence of strategy selections among governments, enterprises, and consumers to enhance the quality of emergency supplies.Design/methodology/approachWe develop a tripartite evolutionary game model consisting of three stakeholders: government, enterprises, and consumers, considering factors including subsidies and penalties. After analysing three stakeholders’ strategic choices to ascertain system stability, parametric analyses were conducted.FindingsExcessive or insufficient subsidies are not conducive to encouraging enterprises to adopt an authentic production strategy; excessive subsidies may result in consumers enduring counterfeiting. Furthermore, the government’s supervision strategy can stabilise the system quickly, suggesting that consumer reporting cannot replace government supervision. Additionally, incentivising enterprises to adopt an authentic production strategy can be achieved by increasing penalties and enhancing compensation while reducing consumer reporting, government supervision, and raw materials costs.Originality/valueWe present a preliminary exploration of how to promote the production of qualified emergency supplies in the early stages of an emergency event. The model and findings proposed in this paper can be generalised and applied to various emergency events, including epidemics and earthquakes.
Impact of immersion experience on encountering information adoption: experimental evidence from AI virtual live streaming under the algorithmic recommendation
Authors: Liu Chunnian , Xiang Ling , Yi Lan 
Published: June 2024

PurposeThe purpose of this paper is to explore the factors influencing the encountering information adoption of virtual live streaming from the perspective of the immersion experience. In addition, the paper aims to provide new theoretical perspectives and analytical frameworks for virtual live information behavior.Design/methodology/approachBased on a review of relevant literature and theories, a model of the encountering information adoption of virtual live streaming users is constructed. In order to complete the empirical study, two experiments and questionnaires have been designed to investigate the relationship between high and low immersion experiences. A total of 1,332 valid survey samples were collected and analyzed, utilizing the structural equation model. In order to delineate the regimes, Gradient Boosted Regression Tree (GBRT) and Lasso regression were further utilized.FindingsThe research findings indicate that users' immersion experience in virtual live streaming has a positive effect on perceived usefulness, trust, and commitment. Furthermore, perceived usefulness and trust have a positive effect on users' emotional arousal and enhance the content experience, while commitment has a negative effect on the content experience. The emotional arousal and content experience of users contribute to their encountering information adoption. The effect of immersion experience on encountering information adoption is partially mediated by perceived usefulness, trust, commitment, emotional arousal, and content experience. The relationship between content experience and encountering information adoption is moderated by digital literacy to a significant extent. In the context of virtual live streaming, the factors influencing users' encountering information adoption can be divided into three distinct regimes. The most significant factors affecting encounter information adoption are trust and commitment, which are located in the first regime. Emotional arousal and digital literacy are situated in the third regime, with the least significant influence on encountering information adoption.Originality/valueThis study constructs a model of virtual live streaming users' encountering information adoption and explores the formation mechanism of encountering information adoption from the perspective of immersion experience, which provides a new perspective for further understanding the influence of virtual live-streaming users' encountering information adoption.
The interface between traditional organisational practices and a World Bank-led performance management reform
Authors: Masum Mahmud Al , Parker Lee 
Published: June 2024

Purpose
This paper aims to investigate how the technical logics of a World Bank-led performance management reform interacted with the social, political and historical logics within a developing country (DC) regulatory organisation. The institutional environment both within and outside the organisation was considered to understand the performance management reform experience.

Design/methodology/approach
An interview-based, longitudinal, qualitative case study approach was used to locate accounting in its technical, social and political space. A large regulatory organisation in Bangladesh was investigated as a case study to reveal how traditional organisational practices and public sector norms mediated a performance management reform. Informed by the institutional logics (IL) and economies of worth perspectives, interviews were used to locate IL at macro-level and associated organisational actors’ strategic responses that ultimately shaped the implementation of a performance management system (PMS).

Findings
This paper reveals how accounting, as a social and political practice, influences accountability reform within a regulatory organisation. It provides an account of both the processes and resultant practices of an accounting reform initiative. While a consultative and transparent performance management process was intended to enhance accountability, it challenged the traditional organisational authority structure and culture. The new PMS retained, modified and adjusted a number of its characteristics over time. These adjustments reflected an amalgamation of the influence of institutional pressures from powerful constituents and the ability of the local agents (managers) in negotiating and mediating the institutionalisation of a new PMS.

Practical implications
The findings of this paper carry major implications for policy makers, particularly with respect to the design of future reform programs on PMS.

Originality/value
This paper offers a theoretical mapping of IL and its organisation-level interpretations and practices. Thus, the authors locate power and influence at field and firm levels. The findings of this study reflect historical, political and cultural backgrounds of the case study organisation and how these contextual forces were active in shaping the meaning of reform logics. Though the institutional environment and agents were unique to the case study organisation, this research offers a “process generalisation” that reveals how a best practice PMS was translated and transformed by the traditional organisational practices in a DC regulatory context.
Changes in food consumption expenditure during the COVID-19 pandemic in Indonesia
Authors: Amrullah Eka Rastiyanto , Rusyiana Aris , Tokuda Hiromi 
Published: June 2024

Purpose
This study aims to explore the structural changes in food consumption expenditure in Indonesia before and during the COVID-19 pandemic using data from the 2020 and 2021 National Socioeconomic Survey by Statistics Indonesia.

Design/methodology/approach
The quadratic almost-ideal demand system analysis model is used to estimate changes in the share of food consumption and the demand and price elasticity of food commodities in Indonesia. A total of 15 food items are analyzed to determine changes in food consumption expenditure during the COVID-19 pandemic.

Findings
The results of this study show that during the COVID-19 pandemic, there was an increase in the proportion of household expenditure related to the consumption of home-cooked food. Simultaneously, the proportion of expenditure on prepared food significantly decreased.

Practical implications
The pandemic has changed household food consumption in Indonesia. This study recommends that the government ensure the availability of supplies and stability of food prices and provide financial subsidies to maintain food consumption, especially for lower-income communities.

Originality/value
There has yet to be a study on the changes in household food consumption during the COVID-19 pandemic in Indonesia. Therefore, this research provides empirical evidence that there were changes in household food expenditure during the pandemic.
Generalizable and precise control based on equilibrium-point hypothesis for musculoskeletal robotic system
Authors: Wu Yaxiong , Chen Jiahao , Qiao Hong 
Published: June 2024

Purpose
The purpose of this study is realizing human-like motions and performance through musculoskeletal robots and brain-inspired controllers. Human-inspired robotic systems, owing to their potential advantages in terms of flexibility, robustness and generality, have been widely recognized as a promising direction of next-generation robots.

Design/methodology/approach
In this paper, a deep forward neural network (DFNN) controller was proposed inspired by the neural mechanisms of equilibrium-point hypothesis (EPH) and musculoskeletal dynamics.

Findings
First, the neural mechanism of EPH in human was analyzed, providing the basis for the control scheme of the proposed method. Second, the effectiveness of proposed method was verified by demonstrating that equilibrium states can be reached under the constant activation signals. Finally, the performance was quantified according to the experimental results.

Originality/value
Based on the neural mechanism of EPH, a DFNN was crafted to simulate the process of activation signal generation in human motion control. Subsequently, a bio-inspired musculoskeletal robotic system was designed, and the high-precision target-reaching tasks were realized in human manner. The proposed methods provide a direction to realize the human-like motion in musculoskeletal robots.
Interrelations between bitcoin market sentiment, crude oil, gold, and the stock market with bitcoin prices: Vision from the hedging market
Authors: Wang Guanghao , Liu Chenghao , Sbai Erwann , Sheng Mingyue Selena , Hu Jinhong , Tao Miaomiao 
Published: June 2024

Purpose
The purpose of this study is to examine Bitcoin's price behavior across market conditions, focusing on the influence of Bitcoin's historical prices, news sentiment and market indicators like oil prices, gold and the S&P index. The authors also assess the stability of Bitcoin-inclusive hedging portfolios under different market conditions, for example, bearish, bullish and moderate market states.

Design/methodology/approach
This study uses the Quantile Autoregressive Distributed Lag model to explore the effects of different factors on Bitcoin's prices across various market situations. This method allows for a detailed analysis of historical trends, investor expectations and external market influences on Bitcoin's price movements and systematic stability.

Findings
Key findings reveal historical prices and investor expectations significantly influence Bitcoin in all market scenarios, with news sentiment exhibiting substantial volatility. This study indicates that oil prices have minimal impacts on Bitcoin, whereas gold is a stabilizing asset in bear markets, with the S&P index influencing short-term fluctuations. At the same time, Bitcoin's volatility varies with market conditions, proving more efficient as a hedging tool in bear and stable markets than in bull ones.

Originality/value
This study highlights the intrinsic correlation between Bitcoin's prices, news sentiment and financial market indicators, enhancing understanding of Bitcoin's market dynamics. The authors demonstrate Bitcoin's weak direct correlation with commodities like oil, the stabilizing role of gold in crypto portfolios and the stock market's indirect effect on Bitcoin prices. By examining these factors' impacts across various market conditions, the findings offer strategies for investors to improve hedging and portfolio management in cryptocurrency markets.
A performance-based approach to developing capabilities for building resilience to climate hazards in transportation systems
Authors: Amekudzi-Kennedy Adjo , Singh Prerna , Yang Zhongyu , Garrett Adair 
Published: June 2024

Purpose
This paper discusses a multifaceted approach to developing specific and general climate resilience in a state transportation system that focuses on organizations and physical infrastructure. The paper focuses on resilience building to the dynamically evolving climate-related threats and extreme events in a transportation agency. This paper aims to enable agencies to understand better how their systems are exposed to different hazards and provide the information necessary for prioritizing their assets and systems for resilience improvement.

Design/methodology/approach
This paper leverages long-term climate hazard databases, spatial and statistical analyses and nonprobabilistic approaches for specific and general climate resilience improvement. Spatial and temporal variability assessments were conducted on granular historical records of exposure obtained from Spatial Hazards Events and Losses Database for the United States data set to identify emerging hot spots of exposure. These were then assessed in combination with various asset specific vulnerability parameters, presented with examples of pavements and bridges. Specific metrics were obtained for the various aspects of vulnerability in the context of a given asset to estimate the overall vulnerability. A criticality-vulnerability matrix was then developed to provide a prioritization model for transportation systems.

Findings
This paper provides insights into the evolving nature of exposure, vulnerability and risk assessments and an approach to systematically account for climate change and the uncertainties associated with it in resilience planning. The Multi-Hazards Exposure, Vulnerability and Risk Assessment tool presented in this paper conducts climate hazard exposure, vulnerability and risk analysis on pavements, bridges and culverts and can be applied by any transportation agency.

Research limitations/implications
This study does not address operational aspects of the transportation system nor include future climate scenario data, but uses the historical records available at hand for resilience planning. With better climate projection data available in the future, the approach should be enhanced by leveraging scenario-based planning.

Practical implications
This paper is of potential value to practitioners and researchers interested in developing resilience building capabilities to manage the effects of climate-related hazards and extreme events as well as unknown threats on infrastructure and organizational performance.

Originality/value
This paper bridges an important gap in infrastructure resilience approaches by systematically accounting for the dynamic nature of climate change and the system level context of vulnerability beyond the physical condition of assets.
Effect of layered polyethylene terephthalate (Geopet) for reinforcing stabilized sand with fly ash
Authors: Karami Mohammad Reza , Keramati Mohsen , Maadi Reza , Moradi Moghaddam Hossein 
Published: June 2024

Purpose
This study aims to examine the reuse of plastic and fly ash (FA) to improve the soil and achieve sustainable development goals.

Design/methodology/approach
Sand from the Anzali port was reinforced with Geopet (GP) and stabilized with FA plus 3% sodium hydroxide. The GP was placed in FA-stabilized soil and the California bearing ratio (CBR), and unconfined compressive strength (UCS) tests were performed on samples at the optimum moisture content.

Findings
The results showed that the improvement in the optimum CBR was 174.9%. The UCS increased 15.25% and 48.65% in soil reinforced with three layers of GP plus 15% FA over those containing 10% and 5% FA, respectively. Additionally, the current analysis used response surface methodology (RSM) to investigate the impact of FA percentage, GP layers and their interaction on CBR. The results highlight the efficacy of the used RSM model, as evidenced by the significantly low p-value (<0.0001).

Originality/value
This demonstrates the suitability and effectiveness of RSM for evaluating CBR in this scientific study.
Predicting organismal response to marine heatwaves using dynamic thermal tolerance landscape models
Authors: Villeneuve Andrew R. , White Easton R. 
Published: June 2024

Abstract

Marine heatwaves (MHWs) can cause thermal stress in marine organisms, experienced as extreme ‘pulses’ against the gradual trend of anthropogenic warming. When thermal stress exceeds organismal capacity to maintain homeostasis, organism survival becomes time‐limited and can result in mass mortality events.

Current methods of detecting and categorizing MHWs rely on statistical analysis of historic climatology and do not consider biological effects as a basis of MHW severity. The re‐emergence of ectotherm thermal tolerance landscape models provides a physiological framework for assessing the lethal effects of MHWs by accounting for both the magnitude and duration of extreme heat events.

Here, we used a simulation approach to understand the effects of a suite of MHW profiles on organism survival probability across (1) three thermal tolerance adaptive strategies, (2) interannual temperature variation and (3) seasonal timing of MHWs.

We identified survival isoclines across MHW magnitude and duration where acute (short duration‐high magnitude) and chronic (long duration‐low magnitude) events had equivalent lethal effects on marine organisms. While most research attention has focused on chronic MHW events, we show similar lethal effects can be experienced by more common but neglected acute marine heat spikes. Critically, a statistical definition of MHWs does not accurately categorize biological mortality.

By letting organism responses define the extremeness of a MHW event, we can build a mechanistic understanding of MHW effects from a physiological basis. Organism responses can then be transferred across scales of ecological organization and better predict marine ecosystem shifts to MHWs.