Industry Groups Research Articles

The Decarbonization Bargain: How the Decarbonizable Sector Shapes Climate Politics

Political scientists conceptualize climate politics as a distributive struggle between emerging green and incumbent fossil coalitions. We argue that, even though this conceptualization is historically accurate, a dichotomous understanding no longer fully explains conflicts over climate policy. Importantly, it misses a group of industries that are central to recent policy progress: the decarbonizable sector. Decarbonizable industries, such as automakers or energy-intensive manufacturers, have long been part of fossil coalitions but can develop new sources of competitiveness through decarbonization. This makes them receptive to a bargain: agreeing to meet climate goals in exchange for policies that support their decarbonization, especially fiscal policies that partially fund or de-risk their business transitions. We establish this argument using an original measurement of the size of the decarbonizable sector and corroborate our findings through case studies of green spending policies in the United States, Germany, and the United Kingdom.

Spatial spillover effect of service industry agglomeration on industrial structure upgrading: Evidence from China

The industrial structure upgrading is a significant indicator in the High-quality economic development. Despite the crucial role that the cluster of service sectors play in improving the industrial system, the research on the impact of service industry agglomeration on industrial structure upgrading is scant, especially the spatial correlation between them. This paper aims to discuss this objective. The current study employs the Spatial Durbin Model to examine the association between service industry gathering and the advancement of industrial systems based on the panel data of Chinese provincial units for the years 2000 to 2020. Findings from the empirical analysis disclose that the concentration of service-related activities in the same province plays a notable role in the optimization of the industrial framework. Moreover, service industry agglomeration demonstrates a noteworthy spatial spillover effect. The gathering of the service industry breaks through geographical constraints and facilitates the enhancement of industrial framework in adjacent regions through radiation effect. Subsequently, the enhancement of the industrial framework in neighboring areas further stimulates the local industrial configuration through spill-over impacts. This research provides a theoretical framework for analyzing the spatial correlation between the service industry group and the enhancement of the industrial framework, and presents practical reference for local authorities to foster the transformation of industrial structure.

Identifying the interests of stakeholders in large construction projects: Based on Justification theory of Boltanski and Thévenot

In large construction projects, many stakeholders are involved, often with different interests. They look at the interests through the lenses of their conflicting worldviews, leading to the formation of different worlds that often have tensions among them. For example, to be viable, the projects must find a compromise between competition and collaboration. Hence, success in developing and implementing large construction projects requires analyzing the justifications of the world of stakeholders, identifying conflicts and creating agreements among them. Thus, the main purpose of this paper is to use Boltanski and Thévenot's theory to review the justifications of stakeholders’ various and understand the tensions and compromises in large construction projects. The research approach is exploratory qualitative, realized using a multiple case study. In this process, five cases were selected as five large construction projects from the four countries of Iran, Turkey, India and Ethiopia and were analyzed based on the data extracted from written, visual, and audio sources. The results indicate that while six stakeholder groups are identified in the sources, content analysis and clear evidence reveal that the industry, construction, and market groups dominate in large construction projects. In other words, the stakeholders often justify their benefits and losses through the lens of these three worlds. In addition, the research discusses tensions and possible compromises in large construction projects. The results of this research improve the insight and knowledge of project managers and contribute to the success of large construction projects. However, it faces limitations in terms of methodology and data adequacy.

Research on the industry sequence for the expansion of China's carbon market: From the perspectives of stabilizing economic growth and employment

Since the national carbon market in China started trading in 2021, only over 2000 enterprises in the power generation industry have participated in the trading, with a small cumulative trading volume. There is an urgent demand for market expansion. Currently, the Chinese economy is still in the recovery stage, facing significant employment pressure. In order to avoid a large negative impact of the expansion of the Chinese carbon market on the economy, key industries should be systematically included in the national carbon market. We developed a social accounting matrix (SAM) multiplier analysis based on industry grouping and consider two scenarios: first, each key industry reduces CO2 emissions by 1 ton, and second, each key industry reduces CO2 emissions by 1 %. For the first scenario, we calculate the marginal value added and employment impacts of carbon reduction. For the second scenario, the impact of carbon reduction on the elasticity of value added and the elasticity of employment are calculated. Industries with the higher added value and employment losses per unit of carbon reduction should be included later in China's national carbon market. The sorting results of the two scenarios can mutually corroborate each other. Our order of inclusion is different from the market's expectations, and the results are also different from previous relevant studies. On the one hand, we not only calculates the direct economic impact of key industries included in the national carbon market but also calculates the indirect and induced economic impacts. On the other hand, we used a “from the outside to the inside” planning method rather than “from the inside to the outside.” We recommend sequentially including the remaining seven key industries in the national carbon market according to the order in this article.

Leukemia Incidence by Occupation and Industry: A Cohort Study of 2.3 Million Workers from Ontario, Canada.

Although a significant body of evidence has attributed certain occupational exposures with leukemia, such as benzene, formaldehyde, 1,3-butadiene and ionizing radiation, more research is needed to identify work environments at increased risk for this disease. Our study aimed to identify occupational and industry groups associated with an elevated incidence of leukemia using a diverse cohort of workers' compensation claimants from Ontario, Canada. A total of 2,363,818 workers in the Occupational Disease Surveillance System (ODSS) cohort, with claims between 1983-2019, were followed for malignant leukemia diagnoses up to 31 December 2019. We used a Cox proportional-hazards model to estimate the relative incidence of leukemia in specific occupation and industry groups. After adjusting for age and birth year, males in protective services (HR = 1.17, 95% CI = 1.02-1.35), metal machining (HR = 1.23, 95% CI = 1.07-1.41), transport (HR = 1.15, 95% CI = 1.06-1.25), and mining occupations (HR = 1.28, 95% CI = 1.02-1.60) had elevated risks of leukemia compared to other workers in the ODSS, with comparable findings by industry. Among female workers, slight risk elevations were observed among product fabricating, assembling, and repairing occupations, with other increased risks seen in furniture and fixture manufacturing, storage, and retail industries. These findings underscore the need for exposure-based studies to better understand occupational hazards in these settings.

Product market competition, debt rollover risk and financial default risk: evidence from Indian corporates

PurposeThe study investigates the impact of the interaction effect of product market competition and rollover risk on the default risk of the firms.Design/methodology/approachThe study used the sample of unbalanced panel data from Indian corporates without any survivability bias over the period from 2009 to 2020 consisting of 30,396 firm-year observations of 6,718 firms spread across 143 industry groups. The panel data regression tests the interaction effect in the context of the asset substitution problem, predation threat theory, competitive shock, and competitive risk.FindingsThe empirical results highlighted the dominance of the predatory effect of competition over the disciplinary advantage of short-term debts. The competitive shock to the industry results in a higher credit spread for refinancing short-term debt and significantly increases rollover risk for firms. Smaller firms have higher default risk from rollover losses than larger firms in the face of competition due to asset-substitution problems and strong rivalry. For firms with weaker fundamentals, the interaction effect of rollover risk and competition exacerbates the flight-to-quality problem, resulting in a systemic event.Practical implicationsThe investors can benefit by factoring ex-ante the interdependence of competition, debt market illiquidity, and default premia while calculating the credit risk. The shareholders of competitive firms can reduce the moral hazard of refinancing the rollover losses and defaulting at a higher fundamental default threshold, by reducing sub-optimal utilization of funds by managers and agency costs.Originality/valueAs per the best of author knowledge, the present study is the first to study the moderating effect of product market competition in exacerbating default risk through the rollover channel.

Joint venture offer: should Agastya accept or decline?

Learning outcomes This case study is designed to enable students to understand the demand for flexible containment products in India, understand the need for a joint venture (JV) with an international company, assess Agastya Inventions Private Limited’s (AIPL) cost and benefits of acceptance of the JV offer, evaluate the growth possibilities in the Indian biogas sector, and conduct the valuation of AIPL for its better positioning during the JV deal. Case overview/synopsis The case study is about the dilemma faced by Prantik Sinha, co-founder and director of Indian company AIPL, to accept or decline a JV offer from a French industrial conglomerate Serge Ferrari Group SA (SFG). AIPL is a leading manufacturer and trader of biogas storage tanks, water storage tanks, airlifting bags, floating boom barriers, trash floating boom barriers and inflatable swimming pools. The company adopts business-to-business and direct-to-customer business models. It develops products as per clients’ specifications and their exact requirements. In 2022, SFG proposed collaborating with AIPL to market its biogas digesters in India and abroad. As per the partnership deal, AIPL needed to split its biogas digester portfolio and sell it to the proposed JV for a specific one-time value. Sinha believed that the JV was an opportunity to scale the business globally and would likely shape the company’s future. However, he was in a quandary about making a final decision on accepting the JV offer because biogas digesters remained the company’s highest revenue-generating product portfolio. It was against this backdrop, what would Sinha do to accomplish his business objective and protect the interest of the company? The case study highlights Sinha’s commitment to nurture and expand AIPL’s business in India and beyond. It provides ample scope for students to analyze the pros and cons of AIPL’s JV initiative with SFG and suggest whether the company can leverage this offer for business growth. Complexity academic level This case study is meant for MBA-level students as part of their strategic management and financial management curriculum. Supplementary materials Teaching notes are available for educators only. Subject code CSS 1: Accounting and finance

Analysing the application of a flexible formwork pre-cast wall driving roadway along goaf in a large mining height face

The technology of building a retaining roadway along goaf or a protecting roadway with a small coal pillar has been developed and applied for many years, and a satisfactory supporting effect has been obtained in medium–thick coal seam and thin coal seam mining. However, the gob-side roadway or small coal pillar mining in a thick coal seam is still subjected to technical problems occasioned by factors such as high roadway, high support pressure beside roadway, and waste of coal resources. To solve these problems, the author proposes an innovative technology of coal-free mining: the technology of driving roadway along goaf with a flexible formwork pre-cast wall. The article utilizes the 3503 and 3505 working faces of Wangzhuang Coal Industry Group as the research background, and comprehensively introduces the principle of the technology and the overburden rock movement law. Through theoretical calculations and numerical simulations, the support resistance and support parameters of flexible formwork pre-cast walls have been determined and successfully performed in industrial practice. The results indicate that the combination of the flexible mould pre-cast wall coal pillar-free mining technology and roof cutting process is more conducive to the maintenance of the roadway in the lower working face, and effectively reduces the stress and deformation of the surrounding rock. The roof and floor of the drivage roadway move, and the deformation of the two sides is small; furthermore, the overall roadway retention effect is satisfactory, which meets the requirements of mining in the lower working face. The coal pillar pertaining to the 20 m section of the 5 m high mining height face was recovered for Wangzhuang Coal Mine, and the recovery rate of the coal resources and the driving speed of the roadway were improved. The proposed method can be popularised and applied in this mine and even in the mining of 15# large-height coal seams in the two cities.

Digital Measures Development: Lessons Learned from an Expert Workshop Addressing Cross-Therapeutic Area Measures of Sleep

Introduction: The Digital Measures Development: Core Measures of Sleep project, led by the Digital Medicine Society (DiMe), emphasizes the importance of sleep as a cornerstone of health and the need for standardized measurements of sleep and its disturbances outside the laboratory. This initiative recognizes the complex relationship between sleep and overall health, addressing it as both a symptom of underlying conditions and a consequence of therapeutic interventions. It aims to fill a crucial gap in healthcare by promoting the development of accessible, nonintrusive, and cost-effective digital tools for sleep assessment, focusing on factors important to patients, caregivers, and clinicians. Methods: A central feature of this project was an expert workshop conducted on April 19th, 2023. The workshop convened stakeholders from diverse backgrounds, including regulatory, payer, industry, academic, and patient groups, to deliberate on the project’s direction. This gathering focused on discussing the challenges and necessities of measuring sleep across various therapeutic areas, aiming to identify broad areas for initial focus while considering the feasibility of generalizing these measures where applicable. The methodological emphasis was on leveraging expert consensus to guide the project’s approach to digital sleep measurement. Results: The workshop resulted in the identification of seven key themes that will direct the DiMe Core Digital Measures of Sleep project and the broader field of sleep research moving forward. These themes underscore the project’s innovative approach to sleep health, highlighting the complexity of omni-therapeutic sleep measurement and identifying potential areas for targeted research and development. The discussions and outcomes of the workshop serve as a roadmap for enhancing digital sleep measurement tools, ensuring they are relevant, accurate, and capable of addressing the nuanced needs of diverse patient populations. Conclusion: The Digital Medicine Society’s Core Measures of Sleep project represents a pivotal effort to advance sleep health through digital innovation. By focusing on the development of standardized, patient-centric, and clinically relevant digital sleep assessment tools, the project addresses a significant need in healthcare. The expert workshop’s outcomes underscore the importance of collaborative, multi-stakeholder engagement in identifying and overcoming the challenges of sleep measurement. This initiative sets a new precedent for the integration of digital tools into sleep health research and practice, promising to improve outcomes for patients worldwide by enhancing our understanding and measurement of sleep.

Identifying Reference Architecture Types for Stakeholder Groups in Industry 4.0

AbstractNew developments in the area of the Industrial Internet‐of‐Things (IIoT) and Industry 4.0 offer huge potential for a more efficient and flexible industrial production, but are also accompanied by rising system complexity. Consequently, to deal with the increased system complexity, novel approaches, such as reference architectures, are emerging. However, most of these approaches are not yet mature and rather theoretical than ready‐to‐use. Thus, companies need to be provided with frameworks that actively support the transformation of their systems towards Industry 4.0. One of those frameworks has been introduced with Reference Architecture Model Industry 4.0 (RAMI 4.0), which counteracts the mentioned complexity and can be used for various use cases. However, as most of its concepts are too general to be applied directly to actual systems, the need for directly applicable reference architectures emerges. Therefore, this paper proposes a method to derive more detailed reference architectures based on RAMI 4.0 by making use of model‐based systems engineering (MBSE), which target single manufacturing domains rather than the whole industry. Therefore, relevant stakeholders are analyzed and different types of reference architectures targeting their concerns are identified. The resulting reference architectures should be ready‐to‐use for interested manufacturers and thus, enhance the acceptance of RAMI 4.0 as well as improve systems engineering in industrial manufacturing. Finally, the developed reference architecture is evaluated in a proof‐of‐concept case study of a flexible production system.

Can digital transformation improve firm resilience to supply chain disruption? The role of diversification strategies

Our study investigates the role of digital transformation (DT) in promoting firm resilience to supply chain disruptions. Based on resource dependence theory (RDT) and anchored in the organizational structure design literature, we propose a moderating effect for diversification strategies, including sourcing diversification, business diversification, and geographic diversification. To verify this, we collect data based on a sample of 2486 Chinese listed companies that experienced supply chain disruptions caused by COVID-19 in 2020, of which 1716 companies implemented DT and 770 companies did not. The changes in firm resilience based on five operating performance metrics for the sample group (those firms implementing DT) are compared against a control group (those without implementing DT) of similar size and industry. The results show that, in terms of percentage of change in operating performance, firms implementing in DT are more resilient than those that do not. Moreover, the sourcing and geographic diversification strategies play a positive moderating role in the relationship between DT and firm resilience. Additionally, our findings partially support the view that business diversification plays a positive moderating role in our proposed relationship for a certain subsample. These results contribute to the DT-resilience literature by unlocking the value and potential of interplay between DT and different diversification strategies in building firm resilience, and underscore the importance of reducing dependence on external resources in the face of supply chain disruptions.

Karakteristik Perusahaan dan Eksekutif dalam Memprediksi Penghindaran Pajak di Indonesia

The purpose of this research is to investigate whether certain company characteristics, such as firm size, leverage, liquidity, profitability, and executive traits, are connected to the tax avoidance strategies utilized by companies. This study utilizes a quantitative research method and examines secondary data from the years 2013 to 2022. The sample is chosen using a purposive sampling technique. Data analysis is carried out using the panel data regression method in Eviews 12 software. The findings of the study indicate that firm size, leverage, profitability, and executive traits have an impact on tax avoidance, while liquidity does not significantly affect tax avoidance. The results of this research will help investors make decisions by evaluating companies known to engage in tax avoidance based on their size, leverage, profitability, and the characteristics of their executives. However, it is important to note that this research does not consider specific industry characteristics and cannot identify the tax avoidance tendencies within each industry. Hence, future research is recommended to include control variables for different industry groups.

The rise of multi-stakeholderism, the power of ultra-processed food corporations, and the implications for global food governance: a network analysis

AbstractThe rise of multi-stakeholder institutions (MIs) involving the ultra-processed food (UPF) industry has raised concerns among food and public health scholars, especially with regards to enhancing the legitimacy and influence of transnational food corporations in global food governance (GFG) spaces. However, few studies have investigated the governance composition and characteristics of MIs involving the UPF industry, nor considered the implications for organizing global responses to UPFs and other major food systems challenges. We address this gap by conducting a network analysis to map global MIs involving the UPF industry, drawing data from web sources, company reports, business and market research databases, and academic and grey literature. We identified 45 such global food system MIs. Of these, executives from the UPF industry or affiliated interest groups held almost half (n = 263, or 43.8%) of the total 601 board seat positions. Executives from a small number of corporations, especially Unilever (n = 20), Nestlé (n = 17), PepsiCo Inc (n = 14), and The Coca-Cola Company (n = 13) held the most board seat positions, indicating centrality to the network. Board seats of these MIs are dominated by executives from transnational corporations (n = 431, or 71.7%), high-income countries (n = 495, or 82.4%), and four countries (United States, Switzerland, United Kingdom, and the Netherlands) (n = 350, or 58.2%) in particular. This study shows that MIs involving the UPF industry privilege the interests of corporations located near exclusively in the Global North, draw legitimacy through affiliations with multi-lateral agencies, civil society groups and research institutions, and represent diverse corporate interests involved in UPF supply chains. Corporate-anchored multi-stakeholderism, as a form of GFG governance, raises challenges for achieving food systems transformation, including the control and reduction of UPFs in human diets.

Pressure Relief Gas Drainage in a Fully Mechanised Mining Face Based on the Comprehensive Determination of ‘Three Zones’ Development Height

The gas emission from the goaf generates gas in the upper corner of the working face, and the return airflow exceeds safe limits. The identification of the reasonable level of the high-long borehole is the key factor to ensure the effectiveness of its extraction. On-site test at the 2308 working face of Licun Coal Industry of Lu’an Chemical Industry Group, the development of coal overlying strata fracture was studied through derivation of theoretical and empirical formulae, physical similarity experiment, and UDEC numerical simulation: this was then combined with in-situ microseismic monitoring to obtain the distribution characteristics of mining overburden “falling zone” and “overbreak zone” under the actual working conditions, and accurately design the high-level long borehole end hole layer. The results show that the height of the falling zone is 17.5 m to 20.5 m, and the overbreak zone is 43.5 m to 49.5 m. When the hole position is between 25 m and 30 m in the middle and lower part of the overbreak zone, the flow and concentration of gas extracted by drilling are high, and the pure amount of gas extracted by a single hole is increased by 53% (on average). The investigation of pressure relief gas extraction shows that throughout the mining period, the average gas concentration in the return airway is maintained below 0.36%, and the average gas concentration in the upper corner is kept within 0.48% (effective gas control). The research proves the rationality of the arrangement of the high-level long borehole horizon in the working face and provides a reference for the design of the borehole horizon in the future gas drainage and control in the goaf.

Impact of institutions of higher learning on population and employment: a panel study for Germany

ABSTRACT We analyse the impact of newly established institutions of higher learning on employment by industry group and on population by age group. The study is conducted on German panel data on the county level from 2002 to 2018. During this time, numerous new institutions of higher learning were established in counties thus far not serviced. To account for the likely non-randomness of our treatment variable, the relatively small number of counties that switch from zero to at least one institution of higher learning, and the staggered nature of the individual county treatments, we utilize the newly devised generalized synthetic control method. We find that the share of manufacturing and financial services in employment rises a few years after a treatment, while the share of public sector employment declines. The level and share of young adults in the age group 18 to 35 tends to increase, in particular for rural counties. However, there is no evidence of a sustained rise in overall population or employment for counties.

Estimating the Output Gap with High-Dimensional Time Series

The output gap measures the deviation of observed output from its potential, thereby defining imbalances in the real economy that affect utilization of resources and price inflation. A novel estimator of the output gap is proposed. It is based on a dynamic factor model that extracts from a high-dimensional set of time series the common component of a stationary transformation of the individual series. The latter results from the application of a nonlinear gap filter, such that for each of the individual time series the gap filter removes from the current value the historical local maximum, which in turn defines the potential. The smooth generalized principal components are extracted and the resulting common components are aggregated into a global output gap measure. An application is presented dealing with the U.S. industrial sector, where the proposed measure is constructed using the disaggregated market and industry groups time series. An evaluation of its external validity is conducted in comparison to alternative measures.

Strategic reactions and investor outcomes: S&P 500 companies in the wake of Russia’s 2022 invasion of Ukraine

ABSTRACT After Russia invaded Ukraine on 24 February 2022, a US-led international coalition imposed economic sanctions against Russia. Consequently, companies doing business in Russia had to decide how to respond. Utilizing an event study approach, this study examined how investors reacted to the initial announcements of 221 S&P 500 firms regarding their Russian business operations in response to the invasion. The findings show that companies that initially responded strongly and decided to suspend their operations in Russia saw a 2.4% adverse stock price reaction compared to companies that chose to continue their business in Russia with a scaled-down operation. Stocks of consumer discretionary and consumer staples companies performed worse in the respective industry group comparison with energy, healthcare, and materials companies. The empirical findings also indicated a weak positive relationship between investors’ reactions and the time of releasing information on a company’s initial response. The research further examined 182 S&P 500 companies to explore whether firm-level associations existed between the business size of a company in Russia and its strategic behavior. The findings indicated an association existed between thebusiness size and how a company responded and between the business size and when announcements were made.

UNVEILING THE ROLE OF INDUSTRIES FOR EUROPEAN FINANCIAL STABILITY. INSIGHTS FROM THE ENERGY SECTOR

Extensive analysis of intertwinement with other industries caused the energy sector to gain momentum in the recent economic literature. This paper aims to create an indicator that captures the impact of financial stability for energy companies on all other industrial groups. To this end, we use daily data from 2007 until the end of 2021 to compute financial stability metrics for all European companies from the STOXX 600 index. The main contribution of our study is to harness the neural network forecasting power to predict extreme levels of this impact. We motivate this choice with evidence from the literature that documents the improved performance of these methods in predicting crises. Our methodological approach also employs an outlier detection algorithm based on copula (COPOD) to identify situations when the energy sector substantially impacts other industries and develop a framework to predict out-of-sample situations. We found evidence that the Deep Renewal model has superior forecasting accuracy to the standard Croston model. The main conclusion is that the design of this methodological framework allows authorities to monitor the impact of shocks produced by the energy sector on financial stability at the European level and undertake strategic management actions.

Body and Gender: Postfeminism and Representation of Girl Groups in K-pop Music Videos

As South Korean pop music (K-pop) gains popularity globally, people start to realize the exploitation and gender discrimination undermined in the patriarchal society that girl groups go through. This study aims to examine how exploitation is inflicted on female idols and how it influences fashion trends and the evolution of the representation of girl groups in the K-pop industry through analyzing music videos (MVs) and the lyrics of title tracks from different K-pop girl groups from the 3rd generation to the 5th generation with postfeminist lens. The results of the study indicate that K-pop girl groups undergo three stages of transformation in media representation. First, girl groups experience hypersexualization or infantilization by wearing high heels, miniskirts, and school uniforms, in order to satisfy male gazes from male fans. Second, the popularity of girl crush makes girl groups choose boots and leather clothes to indicate girl power, which explores the female fanbase. Third, K-pop producers conceptualize girl groups to satisfy different ideologies, meaning that members of girl groups have to give up authenticity to achieve synchronization and coherence. To conclude, dominated by a patriarchal society, girl groups satisfy the male gaze while empowering sisterhood and questioning heterosexuality with the influence of feminism, which indicates a postfeminist landscape.

Forecast of the Fuyao Groups Share Certificate

The article forecasts the price of share certificate of the Fuyao glass Industry Group Co., Ltd. As the Fuyao glass Industry Group Co., Ltd is the largest company in China that produces automotive glass and it has developed rapidly in recent times, it is meaningful to research its shock certificate and it will also be helpful for studying the trend of the entire industry. Both nave model and the ARIMA model could forecast the price of the Fuyaos share certificate well and have a low residual. The two models suggest that the price of the shock certificate will keep stable in 2024 and will maintain around 39 yuan per share. There is a 95 percent chance that the price will stay between 58 yuan and 19 yuan in Dec 2024. The chance that the price will stay between 51 yuan and 26 yuan in Dec 2024 will be 80 percent. This means that the company's development will become stable in 2024.