The advent of the era of the smart economy has made agricultural production more intelligent.An increasing number of companies have launched a series of investment activities aimed at smart agricultural production(SAP...The advent of the era of the smart economy has made agricultural production more intelligent.An increasing number of companies have launched a series of investment activities aimed at smart agricultural production(SAP).However,whether smart agricultural production investment(SAPI)impacts the stock market has yet to be confirmed.Therefore,based on the sample data of 118 listed companies in China from 2010 to 2019,this study empirically examines the impact of SAPI announcements on shareholder value,as indicated by abnormal returns of stocks.Further,we tested the moderating effect of certain characteristic factors on abnormal stock returns.The research results illustrate a significant positive connection between SAPI announcements and shareholder value.Moreover,considering the announcement content and company factors,this study investigates the impacts of different investment targets and industries on the market reaction to SAPI announcements.We find that non-agricultural companies have a more positive market reaction to SAPI than agricultural companies;the higher the liability-asset ratio,the more positive will be the stock market reaction to SAPI.展开更多
The quality of logistics services affects the performance and competitiveness of express logistics companies.Conventional evaluation methods of service quality are based on constructing a rating index system and then ...The quality of logistics services affects the performance and competitiveness of express logistics companies.Conventional evaluation methods of service quality are based on constructing a rating index system and then comprehensively evaluating the associated questionnaires and interviews.Such methods are often subjective,time-consuming,and include a limited sample size(data).On the other hand,customers'opinions concerning logistics services can now be deciphered using online customer reviews.Therefore,this study proposes a method combining the models of latent Dirichlet allocation and long-short term memory(LDA-LSTM)to overcome the limitations of conventional evaluation methods.The main contributions include four aspects.First,the LDA-LSTM model can extract comprehensive aspects and opinions to develop evaluation indexes and scores for logistics service quality,and the reviews of a logistics firm can be examined to verify the effectiveness of this method.Second,the LDA-LSTM model can handle a situation in which several aspects and opinions express one topic or sentiment,and it outperforms the joint sentiment topic model(JST)and naive Bayes classification(NB).Third,positive and negative ratings can reflect a firm's overall service quality,with an excellent rating highlighting the best service quality,which can provide a multi-dimensional evaluation.Fourth,we also identify the indicators of logistics service quality on which customers focus,and we compare the service quality among express enterprises in China.展开更多
Intelligent transformation of manufacturers requires smart logistics transformation collaboration,which improves competitiveness.In this study,we construct a Stackelberg game model based on the mutual influence and re...Intelligent transformation of manufacturers requires smart logistics transformation collaboration,which improves competitiveness.In this study,we construct a Stackelberg game model based on the mutual influence and restriction in the relationship between a manufacturer and a logistics service provider(LSP)undergoing smart logistics transformation.We investigate whether cost-sharing(CS)or revenue-sharing(RS)contracts can coordinate the supply chain and suggest a hybrid CSeRS contract to improve performance.We find that,compared with decentralized options,CS and RS contracts achieve a higher level of smart logistics transformation.While the coordination and effectiveness of CS contracts are superior to those of RS contracts,neither can fully coordinate the supply chain.The proposed hybrid CSeRS contract allows the manufacturer to share the LSP’s costs before the transformation and its partial revenue after transformation,so that the LSP can reduce its service charge,thereby achieving full supply chain coordination.展开更多
基金funded by Major Program of the National Social Science Foundation of China(grant number No.18ZDA060).
文摘The advent of the era of the smart economy has made agricultural production more intelligent.An increasing number of companies have launched a series of investment activities aimed at smart agricultural production(SAP).However,whether smart agricultural production investment(SAPI)impacts the stock market has yet to be confirmed.Therefore,based on the sample data of 118 listed companies in China from 2010 to 2019,this study empirically examines the impact of SAPI announcements on shareholder value,as indicated by abnormal returns of stocks.Further,we tested the moderating effect of certain characteristic factors on abnormal stock returns.The research results illustrate a significant positive connection between SAPI announcements and shareholder value.Moreover,considering the announcement content and company factors,this study investigates the impacts of different investment targets and industries on the market reaction to SAPI announcements.We find that non-agricultural companies have a more positive market reaction to SAPI than agricultural companies;the higher the liability-asset ratio,the more positive will be the stock market reaction to SAPI.
基金supported by Major Program of the National Social Science Foundation of China(Grant No.22&ZD139)This research was also funded by Tianjin Science and Technology Planning Project(Grant No.22ZLGCGX00060).The reviewers'comments are also highly appreciated.
文摘The quality of logistics services affects the performance and competitiveness of express logistics companies.Conventional evaluation methods of service quality are based on constructing a rating index system and then comprehensively evaluating the associated questionnaires and interviews.Such methods are often subjective,time-consuming,and include a limited sample size(data).On the other hand,customers'opinions concerning logistics services can now be deciphered using online customer reviews.Therefore,this study proposes a method combining the models of latent Dirichlet allocation and long-short term memory(LDA-LSTM)to overcome the limitations of conventional evaluation methods.The main contributions include four aspects.First,the LDA-LSTM model can extract comprehensive aspects and opinions to develop evaluation indexes and scores for logistics service quality,and the reviews of a logistics firm can be examined to verify the effectiveness of this method.Second,the LDA-LSTM model can handle a situation in which several aspects and opinions express one topic or sentiment,and it outperforms the joint sentiment topic model(JST)and naive Bayes classification(NB).Third,positive and negative ratings can reflect a firm's overall service quality,with an excellent rating highlighting the best service quality,which can provide a multi-dimensional evaluation.Fourth,we also identify the indicators of logistics service quality on which customers focus,and we compare the service quality among express enterprises in China.
基金funded by National Key R&D Program of China(grant number No.2018YFB1601400)funded by Major Program of the National Social Science Foundation of China(Grant No.18ZDA060)
文摘Intelligent transformation of manufacturers requires smart logistics transformation collaboration,which improves competitiveness.In this study,we construct a Stackelberg game model based on the mutual influence and restriction in the relationship between a manufacturer and a logistics service provider(LSP)undergoing smart logistics transformation.We investigate whether cost-sharing(CS)or revenue-sharing(RS)contracts can coordinate the supply chain and suggest a hybrid CSeRS contract to improve performance.We find that,compared with decentralized options,CS and RS contracts achieve a higher level of smart logistics transformation.While the coordination and effectiveness of CS contracts are superior to those of RS contracts,neither can fully coordinate the supply chain.The proposed hybrid CSeRS contract allows the manufacturer to share the LSP’s costs before the transformation and its partial revenue after transformation,so that the LSP can reduce its service charge,thereby achieving full supply chain coordination.
