Life Cycle Theory Research Articles

Transition to electric vehicles in Hungary: A devastating crisis or business as usual?

This paper discusses the impact of the transition to electric vehicles on the Hungarian automotive sector that is highly specialised in the manufacture of internal combustion engine vehicles and parts. Building on the industry lifecycle theory, we argue that electrification conveys many opportunities for upgrading, since it requires such a proliferation of innovative tasks that, coupled with a tight deadline imposed by the European regulatory framework, can be accomplished only through further decentralisation of R&D activities.Based on twenty expert interviews in Hungary and a review of global automotive actors' electrification-related transactions in central Europe, we find that the manufacturing-led growth model is not jeopardized by the transition to electrification, at least not in the medium run. Data suggests, however, that chances to harness the opportunities of electrification for meaningful industrial upgrading are low. Results predict continuity rather than radical change.

Firm life cycle and financial distress: working capital strategy as moderation

This study empirically examines the working capital strategy (WCF) as moderation on the probability of companies experiencing financial distress when viewed from the firm life cycle (FLC). This study uses logistic regression and moderated regression analysis (MRA) to analyze the data and SPSS 24 software to process the data. The study used the sample taken from non-financial sector companies listed on the Indonesia Stock Exchange (IDX) for the period of 2010-2020. The results indicate that the working capital strategy does not moderate the probability of companies experiencing financial distress when viewed from the firm life cycle (FLC). The probability of experiencing financial distress tends to be low in companies that are in the growth and mature phases. Thus, the results of this study confirm the firm life cycle theory.

Comparison of Applicability of Startup Life Cycle Theories Based on Natural Language Processing

ABSTRACT In the economies of Eastern and Central Europe, startups are expected to become the engine of economic development. Based on interviews with the founders, we examine the extent to which startup life cycle theories (SLCT) can be synthesized and what different or identical narrative conceptual spaces can be drawn. Based on our natural language processing results, it can be concluded that SLCTs cannot be clearly synthesized in the case of semi-peripheral countries, as they draw different narrative spaces. SLCTs can adequately capture enterprises in the initial stages, but in the later stages, the practical applicability of the theories is reduced.

A Research on Li Ning’s Brand Innovation Strategy from the Perspective of Enterprise Life Cycle

When an enterprise crosses a long-term development into mature stage, the organizational structure always tend to be rigid, the willingness to improve will decline, and other problems will also follow. How can we overcome the disease of large enterprises, and even avoid the crisis of decline? The answers given by researchers and managers are often related to organizational reform. Li Ning's development process may point out a new idea for the development of enterprises: brand innovation. Based on the theory of organizational life cycle, this paper will analyze the whole process of Li Ning's brand innovation to overcome the decline, in order to provide reference for other enterprises, especially those in the transitional stage.

FOREIGN DIRECT INVESTMENTS AND ECONOMIC GROWTH: A CRITICAL LITERATURE REVIEW

The relationship between foreign direct investment (FDI) and economic growth has attracted major attention from academics and the governments of developing countries. Since economic growth is one of their main focuses, FDI attraction-related policies have been prioritized during the process of economic growth and development in these countries. It is widely observed that FDI mitigates the saving-investment imbalance and provides technology which is used for the production of goods and services. Although some studies have found evidence of the positive impact of FDI on economic growth, others have revealed the opposite result. The objective of this paper was to perform a critical theoretical and empirical literature review on foreign direct investments and economic growth. The theories guiding this study included the internalization theory, eclectic paradigm theory, product lifecycle theory, Solow growth model and endogenous growth theory. From the empirical studies reviewed, most studies conclude that foreign direct investments influence economic growth in a positive way but it is also evident that the studies also provide conflicting findings with some oscillating from negative to positive and others indicating no relationship at all. The difference in findings among the scholars might arise from methodological differences and operationalization of the study variables. Contextual differences might also explain the inconsistent findings as most of the studies have focused on developing economies. The study identified preconditions in the host country that help harness FDI and influence economic growth and they include developed financial and legal institutions, proper infrastructure, conducive monetary and fiscal policies, and an enabling macro-economic and structural environment that directs FDI to productive investments.

The rationality of rainy day savers: objective and subjective determinants of individual savings in Britain

ABSTRACT Using the largest and richest data on savings in Great Britain, six waves of the Wealth and Assets Survey from the Office for National Statistics, we compare standard life cycle models of saving with models using more ‘subjective’ measures, and the added dimension of longitudinal data. Whilst the life cycle model provides a benchmark, regular criticisms remain, particularly people’s propensity to continue saving at older ages. Data on attitudes attenuate that issue, and panel data largely eliminate it. Our results confirm empirically, for Great Britain, the importance of some of the objective determinants of savings included in life cycle theory. When we look at more subjective ones, we show that other factors, including self-rated health and financial pressure, provide an enhanced direct explanation of the propensity to save. Individuals who regard themselves as ‘rainy day savers’ tended to save more, irrespective of their demographic or financial circumstances. Results are robust to different specifications.

Strategi Pengelolaan Air Terjun Madakaripura Kabupaten Probolinggo Jawa Timur

Madakaripura Waterfall as the highest waterfall in Java Island has shown an increase number of tourists visit every year, however there are still many problems such as lack of facilities, accessibility and quality of human resources. This problem makes research on management strategy at Madakaripura Waterfall important to do. The research aimed to identify the existing conditions of tourist attraction, then the motivates and obstacles for the management and management strategy that will be carried out by stakeholders. This research used qualitative descriptive analysis and SWOT analysis techniques. Data collection was done by observation, interviews, documentation and literature studies. The results showed that the position of Madakaripura Waterfall based on Tourism Area Life Cycle theory is in involvement stage. The motivation behind the management are strengths and opportunities and the obstacle for management are weaknesses and threats. The management strategies by stakeholders are planning, organization, actuating and controlling. From the management strategy by stakeholders, this study offers a new management strategy for consideration and suggestions by the SO, WO, ST, and WT strategy which are compiled as follows: dig and use the potential of Madakaripura Waterfall, designing attractive and affordable tour packages to welcome tourists in the new normal era, the necessity of authority agency to synergize both managers, create strict penalty for local people, improving the quality of human resources, improving mitigation and pay attention to the quality of service for tourists.
 Keywords: madakaripura waterfall, natural tourist attraction, management strategy.

Green coal mining and water clean utilization under Neogene aquifer in Zhaojiazhai coalmine of central China

Coal plays an important role in the high-quality development of national economy and society, and overburden movement caused by coal mining has also caused groundwater loss and eco-environment damage. Under the national strategic goal of emission peak and carbon neutral, green mining and low-carbon clean production have become the mainstream production mode of coal enterprises. In this study, the overlying unconsolidated layer is divided into four aquifer groups in Zhaojiazhai coalmine of central China based on its characteristics and water yield coefficient of pumping experiment. According to the coal seam thickness, the damage range of the aquifer under the mining influence and the maximum hydrostatic reserves are accurately determined, and a combined up-down well drainage technology is proposed, which solves the water hazard threat of the safe mining under Neogene aquifer. Considering that the loss of groundwater resources will aggravate the surface subsidence , the distribution characteristics and formation mechanism of surface cracks under fully mechanized top coal caving mining are analyzed, the angular parameters of surface dynamic movement and deformation are obtained, the damage degree of mining subsidence area is divided into regions, and land reclamation measures are implemented. Combined with the clean production concept of waste heat utilization , and based on the life cycle theory, the life cycle cost model of mine heat supply mode is established. It is analyzed that the waste heat utilization of mine water and air compressor is the best way of heat supply in Zhaojiazhai coalmine, and has been successfully applied. The engineering application shows that the dewatering and drainage not only liberates the coal resource under water of 5.99 Mt, but also provides rich waste heat of mine water for coalmine clean production. The waste heat utilization saves 7000 tons of standard coal for the mine every year, which has the characteristics of low operation cost, high efficiency, energy conservation and green environmental protection. Meanwhile, using the surface movement parameter to guide the land reclamation in the subsidence area not only improves the land productivity, but also effectively improves the eco-environment of the mining area, speeds up the construction process of green mines, and provides a reference for the green mining and low-carbon production of coal enterprises. • The drainage technology is proposed to convert Neogene water into clean energy. • The waste heat utilization of coalmine is compared, analyzed and determined. • A new mode of green mine construction is proposed and implemented. • The findings are considered instrumental for green mine and low-carbon development.

Study on the Impact of Rural Tourism Behavior Development on Ecological Environment in Zhejiang Province

With the progress of economy, people have more and more leisure time and higher income. More and more people choose rural tourism and experience rural life when they choose to travel. This paper takes Zhejiang rural tourism as an example, based on the theory of complex ecosystem and Butler’s theory of tourism destination life cycle. First of all, through literature research, find out the development status of rural tourism in China and elaborate its influencing factors and finally put forward targeted suggestions. Secondly, through on-the-spot investigation, taking the villages in Zhejiang Province as the investigation objects, the relevant information is obtained through questionnaire survey and other methods. Finally, according to the results of literature research and field survey, taking Guzhu village and Jiaxing City in Zhejiang Province as examples, the tourism data over the years show that rural tourism can promote employment, provide multiple jobs, and improve farmers’ income. The proportion of rural tourism income in local tourism income has increased year by year. This paper discusses the impact of the development of rural tourism behavior on the ecological environment in Zhejiang Province and tries to find the perfect combination point of the coordinated development of rural tourism and environment.

Is generativity Erikson’s answer to human ageing in the neoliberal world?

This paper uses the concept of generativity to challenge the ageist view of older adults' reduced social and economic contributions in a neoliberal economy and support an age-integrated society. It revisits Erik Erikson’s life cycle theory and brings forth the argument that the core quality of the seventh stage of human ego development, generativity vs stagnation, transverses all previous developmental stages and creates a forever-moving life cycle through intergenerational connections. Generativity is critical to human ageing as it is closely linked to notions of transfer of knowledge. This paper investigates generativity in relation to ego, libido and ageing. It discusses the ego as the medium of generativity and libido as its source of energy. It also explores how opportunities for intergenerational exchange, transfer of knowledge, and creativity are fashioned to suit the larger economic and socio-cultural context through sublimation. The paper concludes that generativity is the most promising route to an age-friendly society.

Determinants of Corporate Pay-Out Policy and the Moderating Effects of Firm's Growth: Evidence from Pakistan

Abstract This study investigates the determinants of dividend pay-out of listed firms in Pakistan from the year 2011 to 2015. The focus of the study is the life cycle theory of dividends, agency theory and signaling theory. Corporate governance indicators, firm efficiency and cash flow volatility are the main determinants used in this study. This study also includes eight corporate governance indicators namely insider ownership, ownership concentration, institutional ownership, board independence, board size, CEO duality, audit committee independence and remuneration committee. It is found that ownership concentration, institutional ownership, CEO duality, firm efficiency and cash flow volatility are the significant determinants of dividend pay-out in Pakistan. It is also found that growth opportunities significantly moderate the impact of ownership concentration, institutional ownership, CEO duality, firm efficiency, cash flow volatility on the dividend pay-out. This research is among the pioneer studies which examine the impact of firm efficiency on dividend pay-out. Likewise, the study is among the first attempts to incorporate growth opportunities as moderating variable in the relationship between corporate governance indicators, firm efficiency and cash flow volatility with dividend pay-out. Results show that the management of an efficient firm pays a high dividend to increase its reputation in the market. Furthermore, the negative signaling effect of dividend omission may not exist for efficient firms. It implies that efficient firms at their growth stage may also skip dividends.

Inflation and Saving: A puzzle

In the wake of the steep fall in the national savings due to economic shocks, among them the COVID-19 pandemic macroeconomic consequences, this study examines to what extent inflation explains the variation in the saving behavior in developing countries. Most past empirical studies investigated the role of inflation on savings only in advanced nations. The current study will investigate the effect of inflation on savings culture in Kenya. To determine how inflation explains saving, the study use s the ordinary least squares ( OLS ) estimation technique. From regression analysis findings, savings are positively related to inflation, economic growth, and interest rate. In contrast, consumption expenditure is negatively related to national savings. From estimation results, in Kenya, high inflation will stimulate further growth in the national savings. This finding is puzzling as it contradicts the implications of most monetary general equilibrium models. Expansionary inflation result implies that the central bank should vitalize inflation, to promote a higher saving culture in Kenya. JEL Classification: c22, e21, e31, f3 Keywords: Inflation, saving, puzzle, saving behavior, life cycle theory of savings, theory of consumer behavior DOI: 10.7176/DCS/12-6-06 Publication date: July 30 th 2022

Can Internet construction promote enterprise upgrading?

This paper investigates the impact of Internet infrastructure construction on enterprise transformation and upgrading and the underlying mechanisms using a progressive double difference model based on a quasi-natural experiment of the Chinese government's "broadband China" policy by matching A-share listed companies and city panel data from 2008–2019 in Shanghai and Shenzhen. The conclusions show that the "broadband China" policy can significantly promote the transformation and upgrading of enterprises in pilot cities. However, its effect shows a diminishing marginal contribution, and the policy is more effective for traditional manufacturing industries during the implementation period. Enhancing human capital and reducing internal transaction costs are two important channels for Internet infrastructure construction to help enterprises transform and upgrade. Combined with the life cycle theory, we find that the "broadband China" policy has the most significant impact on changing and upgrading enterprises in the growth and maturity stages, especially those in the manufacturing industry, but not those in the maturity and decline stages of the service industry. Finally, a series of robustness tests using Monte Carlo simulation, entropy balance method, and instrumental variables method, excluding other factors, show that the findings are still robust.

Decline or Rejuvenation? Efficiency Development of China’s National Scenic Areas

The decline is one of the essential issues for developing tourism destinations. The rapid adoption of appropriate policies will enable them to reverse the decline and enter the rejuvenation stage in time. This study advocated establishing an operational evaluation model of tourism efficiency with DEA and the super-SBM model to estimate when China’s mass tourism destinations are in decline and rejuvenation based on the tourism area life cycle (TALC) theory regarding China’s national scenic areas (NSAs) samples. The results show that the development of China’s mass tourism destinations can be divided into three phases, in which there is a clear process of persistent decline and rejuvenation. Different types of NSAs vary in terms of efficiency level and change trends. Human landscape, caves, and wetland and lakes all have distinct phases of persistent decline, but humanistic landscapes show a significant rejuvenation trend. These findings provide an innovative re-interpretation of the TALC model.

The Relationship between Child Rearing Burden and Farmers’ Adoption of Climate Adaptive Technology: Taking Water-Saving Irrigation Technology as an Example

Exploring the relationship between child rearing burden and farmers’ adoption of climate adaptation technologies can be used to improve farmers’ adoption of these technologies, thus reducing the impact of climate change on agricultural production and increasing agricultural output. However, with the full implementation of the Chinese three-child policy, the number of children in families will continue to increase and the cost of raising children will rise, which will have a crowding out effect on the adoption of climate adaptive technologies. In this context, we analyzed the impact and mechanism of child rearing burden on farmers’ adoption of climate adaptive technology by Probit model and discussed its heterogeneity based on family life cycle theory. Cross-sectional survey data were collected from 511 farm households in the 3 provinces of China to produce the findings. We found that the child rearing burden had a significant negative impact on farmers’ adoption of climate adaptive technology. The impact mechanism analysis showed that the child rearing burden mainly affected farmers’ adoption of climate adaptive technology through three paths: risk appetite, economic capital and non-agricultural employment, with non-agricultural employment having the largest impact, followed by risk appetite and finally, economic capital. Furthermore, the effect of child rearing burden on the adoption of climate adaptive technology was heterogeneous amid different family life cycles: In the upbringing and burden period, the child support burden had a significant negative impact on the adoption of climate adaptive technology and the impact was greater in the upbringing period, while in the stable period, the child support burden had a significant positive impact on the adoption of climate adaptive technology. The influence mechanism was also heterogeneous in different family life cycles. This paper not only provides research evidence on the relationship between child rearing burden and farmers’ adoption of climate adaptive technology, but also has certain empirical value for the formulation and implementation of supportive measures for improving fertility policies.

Organisational Drivers and Challenges in Circular Economy Implementation: An Issue Life Cycle Approach

Business is a significant cause of various global sustainability challenges addressed by the Circular Economy (CE), making companies instrumental in the transition from a linear economic model to a circular one. While drivers and challenges in corporate CE implementation have been researched on an organisational level, a more detailed understanding is needed regarding their contextual nature and interplay with the evolution of CE implementation in a company. Utilising issue life cycle theory, this study contributes to the literature on CE implementation in business by displaying differences in corporate CE implementation drivers and challenges, relating to the time since starting, and the degree of corporate CE implementation. Moreover, it makes a significant contribution to issue life cycle theory by demonstrating how drivers and challenges can shape the progression of a corporate response to an issue. This understanding is crucial in identifying the right support mechanisms for companies in different phases of CE implementation.

Development vs. political views of government ownership: How does it affect investment efficiency?

This study connects the development view and political view of government ownership with the firm life cycle theory to explain firms’ investment efficiency. We find that government ownership of firms in the introduction and decline stages is driven by the development view that improves investment efficiency. However, consistent with the political view, higher government ownership worsens firms' investment efficiency in the growth and mature stages. For firms in these two stages, we also find a significant threshold effect of government ownership on investment efficiency. Our results imply that the government's participation objective is different based on the firms’ development stages.

Empirical Evaluation of the Environmental Emergency Management Capability of Local Governments in China

Environmental emergency management is an important practical subject for local governments. Understanding the different dimensions of environmental emergency management capability is crucial for enabling a well-informed governance performance. Based on the crisis management 4R theory (comprising four stages: reduction, readiness, response and recovery), PPRR emergency management theory (emergency management is categorized into four stages: prevention, preparation, response and recovery), crisis life cycle theory and ISO 22320, this paper divided local government environmental emergency management capability into four dimensions of a dynamic pre–during–post process: preparedness, early warning, response and recovery. This paper applied a confirmatory factor analysis model to confirm the classification standards of the four capabilities, which are strongly correlated within environmental emergency management. We found that China’s local government environmental emergency management capability is generally at an upper-middle level, according to the empirical data. We also analyzed the regional differences in local government environmental emergency management capability across China and concluded that the environmental emergency management capability of local governments in the eastern region is higher than those in other regions. The capability levels in the central, western and northeastern regions are more similar to each other and show a decreasing distribution in the east–central–west–northeast region.

Life cycle analysis for reconstituted decorative lumber from an ecological perspective: A Review

In response to global Sustainable Development Goals (SDGs), the Chinese government has pledged to curtail increased carbon dioxide emissions beyond 2030 and to achieve carbon neutrality by 2060, thus achieving a status of an ecological civilization. Reconstituted decorative lumber, with rotary-cut (or planed) veneer from plantation or common species timber as the main raw material, has beneficial development opportunities for forestry from the perspective of an ecological civilization. This paper first discusses China’s current state of ecological civilization, then researches the various life cycles of reconstituted decorative lumber using the life cycle theory and provides a reference for the Chinese reconstituted decorative lumber industry’s development by analyzing progress in related fields. The eco-friendliness of reconstituted decorative lumber is explained via systematic combing, and proposals for the use and promotion of reconstituted decorative lumber in the new period are presented. Research and analysis findings show that it is necessary to comprehensively regulate the production chain of reconstituted decorative lumber based on life cycle. Research on the development and utilization of reconstituted decorative lumber needs to be strengthened. The promotion and marketing of reconstituted decorative lumber can be promoted by emphasizing its ecological significance.

FINANCIAL LITERACY AND MENTAL ACCOUNTING ANALYSIS OF FINANCIAL DECISIONS AND SHOPPING INTERESTS IN THE COVID-19 PANDEMIC ERA

The Covid 19 pandemic is a situation that illustrates the uncertainty of economic conditions nationally and globally and has an impact on how individuals should react to it in financial terms. Therefore, this study aims to examine the effect of financial literacy and mental accounting on financial decisions and spending interests in the COVID-19 pandemic situation based on prospect theory and behavioural life-cycle theory. The results of research on lecturers and staff respondents at STIE Equity Bandung - Indonesia, the SEM-PLS analysis results show that financial literacy and mental accounting have an effect on financial decisions, and only mental accounting has an effect on shopping interest. In terms of prospect theory, the research findings found that in pandemic situations, individuals generally behave in risk-aversion behaviour. Meanwhile, in the viewpoint of the behavioural life-cycle theory, individuals view money as current assets with precautionary reasons.