Alternative Measures Research Articles

Impulse oscillometry system and pulmonary function test assessment of the impact of tumor location, staging, and pathological type on lung function in primary lung cancer

Abstract Purpose To study the effects of tumor site, stage, pathologic type and imaging findings on lung function in primary lung cancer, as well as the correlation between impulse oscillometry system (IOS) and pulmonary function test (PFT) parameters. Methods The impact of tumor location, staging, and pathological type on lung function were evaluated in 219 patients with primary lung cancer through IOS and PFT. Spearman correlation coefficient was used to analyze the relationship between IOS parameters and PFT parameters. Results The PFT parameters in adenocarcinoma were significantly higher than those in SCLC, while the other parameters in IOS were obviously lower than those in SCLC except X5Hz (P < 0.05). The PFT parameters of FVC%, FEV1% and MVV% in SCC were evidently higher than those in SCLC, while the parameters of IOS were significantly lower than those in SCLC (P < 0.05). The PFT parameters of adenocarcinoma were higher than those of SCC (P < 0.05). In the PFT parameters of stage I patients, FEV1/FVC%, MEF50%, MMEF75/25%, and DLCO% were markedly higher than those of stage II patients, and FVC%, FEV1%, FEV1/FVC%, MEF50%, MEF25%, PEF%, MMEF75/25%, TLC%, and DLCO% were obviously higher than those of stage III and IV patients; and the MVV%, Z5Hz%, R5Hz% in IOS parameters were obviously lower than those in stage III, while Fres (1/s) and X5Hz were significantly lower than those in stage IV (P < 0.05). Compared with Phase IV, the X5Hz of stage II patients was clearly higher (P = 0.023). Besides, PFT parameters of peripheral lung cancer were obviously higher than those of central lung cancer (P < 0.05), while Z5Hz%, Fres (1/s) and R5Hz% of IOS parameters were clearly lower than those of central lung cancer (P < 0.05). Moreover, for patients without and with other pulmonary imaging manifestations, the PFT parameters of the former were significantly higher than those of the latter (P < 0.05), while only Fres (1/s) of IOS parameters was significantly lower than the latter (P < 0.05). Furthermore, there is a low to moderate correlation between IOS parameters and PFT parameters. Conclusion Patients with central SCLC and SCC and advanced lung cancer had the worst lung function. The IOS parameters show a good correlation with the traditional PFT parameters, and IOS can be used as an alternative measurement method for PFT when necessary.

Fermatean fuzzy distance and Sugeno–Weber operators-based SPC-MARCOS approach for sustainable supplier evaluation in the healthcare supply chain

The present work proposes a new decision support tool for assessing the sustainable suppliers in the healthcare supply chain. For this purpose, the classical Measurement of Alternatives and Ranking according to Compromise Solution (MARCOS) model is integrated with the Sugeno–Weber weighted averaging operators, modified symmetry point of criterion (SPC) model, rank sum (RS) tool and Fermatean fuzzy sets (FFSs), and named as the ‘FF-SPC-RS-MARCOS’ framework. The developed model firstly determines the decision experts’ weights through RS model. Second, novel Sugeno–Weber weighted operators are introduced to combine the experts’ opinions. Third, a unified weighting procedure is presented based on the combination of modified SPC approach for objective weight and RS method for subjective weight of attributes. To this aim, a novel distance measure is introduced for FFSs and further applied to compute the distance between aggregated Fermatean fuzzy numbers and symmetry point value of an attribute in the modified SPC approach. Further, a hybrid FF-SPC-RS-MARCOS approach is proposed to tackle the decision-making problems on FFSs setting. To elucidate the efficacy of the developed method, it is applied to a case study of sustainable supplier selection problem in the healthcare supply chain. The paper further conducts sensitivity investigation and comparison with existent approaches to test the stability and robustness of the ranking outcomes. This study shows how the proposed MARCOS method in combination with SPC and RS models can be used to prioritize the alternative suppliers in the healthcare supply chain. The introduced work provides a new methodology, which can help the practitioners and academics to evaluate suppliers with uncertain information and can also be employed to other areas facing similar types of decision-making problems.

Do dual holders enhance or hinder managerial efficiency?

ABSTRACT This study examines the influence of dual ownership on managerial efficiency using panel data from a dataset of U.S. firms spanning 1996 to 2017. Our findings indicate that dual ownership negatively affects managerial efficiency, demonstrating diminishing productivity in resource utilization when dual ownership is present or increases. Cross-sectional analyses suggest that the adverse effect of dual holders on managerial efficiency is more pronounced in dual-held firms with weaker corporate governance and greater financial constraints. Additional analyses, including propensity score matching, change specifications, Lewbel’s instrumental variable approach, and alternative measures of managerial efficiency, corroborate our findings.

LGBTQ+ Families, Welfare, and Same-sex Marriage Legalisation in Taiwan: A Social Policy Perspective

This article examines whether and to what extent legalised same-sex marriage can assist lesbian, gay, bisexual, trans, and queer (LGBTQ+) people to develop family life and protect them from defamilisation and familisation risks. It focuses on the provision of and gaps in welfare for LGBTQ+ people since Taiwan’s same-sex marriage legalisation in 2019. A content analysis of online community discussions since marriage equality shows that local LGBTQ+ community discussions were filled with concerns about the lack of familial status for cross-border couples, lack of legal parental status and rights for same-sex parents, and questions about heteronormative values and kinship ties. This article reveals how heteronormative assumptions embedded in the policy system and in the wider society adversely influence LGBTQ+ people’s welfare, and identifies supplementary and alternative measures. It highlights the importance of providing universal basic services free from heteronormative biases and prioritising the well-being and rights of all citizens.

Investigation of Possible Sources of Electrodermal Activity in Surgical Personnel to Assess Workplace Stress Levels

Objective: The aim of this study was to evaluate alternative measurement points to assess stress levels during surgery, given that taking electrodermal activity (EDA) measurements from the palms, a commonly used standard, is impractical in surgical contexts. Methods: A combination of mentally challenging tasks on a laparoscopy trainer (LapSim) and physically challenging sports exercises were performed by a group of participants. During these tasks, EDA was measured at three different locations: the fingers, toes, and shoulder/neck area. Additionally, an electrocardiogram was used as an objective measure of stress levels. Results: The findings indicated that EDA measurements taken at the toes produced similar high skin conductance levels to measurements taken at the palms. However, significantly lower skin conductance levels were observed at the shoulder. Despite this, the cross-correlation of EDA data revealed high correlation coefficients (above 0.96) between both the toe and shoulder measurements when compared to the palm data. Conclusions: The study concludes that both the toes and the shoulder/neck area serve as viable alternative locations for assessing occupational stress levels in surgical personnel. This assertion is supported by the similarity of the data produced by these methods to that of the standard finger-based technique, with the latter still being identified as the most sensitive method for capturing EDA. Subsequently, these findings attest to the potential for practical adaptation of this technique in surgical contexts.

The Method of Measuring the Occupancy of the Radio Frequency Spectrum, Varying According to the Daily Cycle

Relevance. Management of the use of the radio frequency spectrum requires taking into account the actual occupancy of radio channels and frequency bands. However, the patterns of occupancy change underlying the International Telecommunication Union (ITU-R) Radiocommunication Sector documents do not fully meet the needs of practice. Some of the ITU-R recommendations are focused on estimating local occupancy for short time intervals; other recommendations involve measurements in stationary radio channels, although only a small part of real radio channels can be counted on to have the constant occupancy throughout the time axis. At the same time, the activities of many organizations, and therefore the resources they use, are subject to a daily cycle of activity, which allows us to recommend for consideration a model of occupancy change in accordance with the daily cycle. The aim of the work is to develop a methodology for collecting information and forming an estimate of the daily occupancy change for the analyzed radio channels. Methods used. The development of recommendations for the collection of data for occupancy monitoring is based on the practical approaches of radio monitoring services and classical methods of statistical analysis. Novelty. In this paper, a new model for changing the occupancy of radio frequency channels in accordance with the daily cycle is proposed for use, as well as a statistically justified method for measuring occupancy.Result. The proposed methodology allows us to obtain a practically oriented assessment of occupancy changes, which does not require replacing the fleet of equipment traditionally used by radio monitoring services; the necessary changes can be implemented with relatively simple software modification. The paper provides preliminary recommendations for ensuring the accuracy and reliability of measurements, based on a traditionally used mathematical apparatus, which involves limiting the relative measurement error. This entails the need for very long measurements for the most important low-occupied radio channels. So, it is necessary to look for alternative measurement accuracy requirements that would meet the real needs of radio monitoring services.Practical significance. The acceptance of the developed methodology will eliminate the currently existing contradiction between the theoretical provisions underlying the ITU recommendations and the practice of conducting radio-controlled measurements.

Estimating cognitive workload using a commercial in-ear EEG headset.

This study investigated the potential of estimating various mental workload levels during two different tasks using a commercial in-ear electroencephalography (EEG) system, the IDUN "Guardian".
Approach: Participants performed versions of two classical workload tasks: an n-back task and a mental arithmetic task. Both in-ear and conventional EEG data were simultaneously collected during these tasks. In an effort to facilitate a more comprehensive comparison, the complexity of the tasks was intentionally increased beyond typical levels. Special emphasis was also placed on understanding the significance of gamma band activity in workload estimations. Therefore, each signal was analyzed across low frequency (1-35 Hz) and high frequency (1-100 Hz) ranges. Additionally, surrogate in-ear EEG measures, derived from the conventional EEG recordings, were extracted and examined.
Main results: Workload estimation using in-ear EEG yielded statistically significant performance levels, surpassing chance levels with 44.1% for four classes and 68.4% for two classes in the n-back task and was better than a naive predictor for the mental arithmetic task. Conventional EEG exhibited significantly higher performance compared to in-ear EEG, achieving 80.3% and 92.9% accuracy for the respective tasks, along with lower error rates than the naive predictor. The developed surrogate measures achieved improved results, reaching accuracies of 57.5% and 85.5%, thus providing insights for enhancing future in-ear systems. Notably, most high frequency range signals outperformed their low frequency counterparts in terms of accuracy validating that high frequency gamma band features can improve workload estimation.
 Significance: The application of EEG-based Brain-Computer Interfaces (BCIs) beyond laboratory settings is often hindered by practical limitations. In-ear EEG systems offer a promising solution to this problem, potentially enabling everyday use. This study evaluates the performance of a commercial in-ear headset and provides guidelines for increased effectiveness.

Biodiversity risk and firm performance: Evidence from US firms

AbstractBiodiversity loss is considered as a critical global challenge with significant implications for ecosystems, economies, and societies. While the importance of biodiversity conservation is widely acknowledged, the extent to which biodiversity risk impacts firm performance remains an under‐explored area of research. This paper examines how biodiversity risk affects firm performance using a new measure of firm‐level biodiversity risk generated from textual analysis of firms' 10‐K reports. Our multivariate analysis shows that biodiversity risk significantly hinders performance of firms in the United States during the 2001–2021 period. The finding holds well after controlling various confounding factors, using alternative variable measurements, model specifications, and correcting for endogeneity problems in the biodiversity risk‐firm performance nexus. Besides decreasing sales growth and profitability, biodiversity risk increases in the cost of goods sold, as explained by the Cobb–Douglas production function. Interestingly, we find that the effect is stronger for firms in biodiversity‐sensitive industries, weaker for firms with more product innovation, and remains insignificant for firms with top‐tier performance. Our study provides policy and practical implications for businesses to mitigate biodiversity risk in this contemporary era of ecological degradation.

Frailty transition and burden on mortality risk in middle-aged and older population: a prospective cohort study

The effect of frailty transition and burden on the risk of all-cause mortality in South Korea remains unclear. This study aimed to investigate the risk of all-cause mortality using the most recent frailty index (FI), changes in FI, and frailty burden. We analyzed data from the Korean Genome and Epidemiology Study (2013–2020). A total of 3,134 participants aged 53–87 years with a computable FI based on the osteoporotic fracture index during their initial visit. The FI was updated biennially during re-examinations and changes between the initial and last visits were categorized into four groups: (1) improved or maintained to non-frail, (2) worsened to pre-frail, (3) improved or maintained to pre-frail, and (4) worsened or maintained to frail. We used the Cox proportional hazards model, adjusted for age, sex, education, lifestyle factors, and diseases. During the follow-up, 218 participants died. Compared to those who were robust at the last visit, pre-frailty and frailty were associated with an increased risk of all-cause death. Of those who visited > 2 times, 62.3% improved or remained robust, and had a decreased risk of all-cause death. Those with > 63% of pre-frailty or frailty burden significantly higher risk of death, with > 60% increase compared to their non-frail counterparts. Maintaining or achieving robustness is associated with a decreased risk of mortality. To prevent premature death and extend healthy life expectancy, identifying biological aging through surrogate measures and implementing interventions to maintain or achieve a robust health status are needed.

You play the bad guy: how foreign direct investment affects zombie firms in China

This paper investigates the impact of foreign direct investment (FDI) on zombie firms at both the macro and micro levels, revealing a significant negative effect on their prevalence at the city level. Our results show that FDI accelerates zombie firm exits as local governments cease subsidies, recognizing that foreign firms can sustain local economic growth. This result is robust to alternative methods of identifying zombies, alternative measures for FDI, and diverse regression methodologies. This shift is predicated on the recognition that foreign firms can sustain local economic growth. Consequently, financial constraints and profitability among zombie firms deteriorate significantly, while healthy firms remain unaffected. These results support the crowding-out effect but find no evidence for technology spillover, challenging some conventional expectations about the benefits of FDI. Our findings contribute to a nuanced understanding of FDI spillover effects and its role in the targeted disposal of non-viable firms.

Multi-attribute group decision-making method using single-valued neutrosophic credibility numbers with fairly variable extended power average operators and GRA-MARCOS

Data trading platform (DTP) selection is a classic multi-attribute group decision-making (MAGDM) problem. As an extension of intuitionistic fuzzy sets (IFSs), single-valued neutrosophic credibility numbers (SvNCNs) can express both fuzzy evaluation information and the credibility level of the information, offering better expressiveness in describing fuzzy decision-making information. However, existing studies on aggregation operators and decision-making methods in the SvNCN environment are inadequate. Therefore, this paper proposes a MAGDM technique based on the fairly weighted variable extended power average (SvNCNFWVEPA) operators of SvNCNs and grey relational analysis (GRA)-Measurement of Alternatives and Ranking according to Compromise Solution (MARCOS) method. The main contributions are as follows: (1) we propose fairly operation rules for aggregating SvNCNs in an unbiased manner; (2) addressing the lack of SvNCN measurement research, we introduce preference distance and entropy measures for SvNCNs, then utilize the entropy measure to compute the objective weights of the attributes; (3) to effectively aggregate SvNCN information, inspired by the variable power geometric (VPG) operators and the extended power average (EPA) operators, we propose the variable extended power average (VEPA) operator for scientifically handling extreme values, extending it to SvNCNs with the SvNCNs fairly variable extended power average (SvNCNFVEPA) operators and their extended form; (4) we introduce the GRA method to calculate the degree of utility of alternatives relative to ideal and anti-ideal alternatives, forming the GRA-MARCOS method. This method can reflect both indicator differences and the similarity of alternatives, thereby rendering the evaluation results more scientific and objective; (5) to illustrate the application of the method to the MAGDM problem, we apply it to the example of DTP selection. Parameter sensitivity analysis and comparative analysis with other existing methods demonstrate that our proposed method is more scientific and flexible.

Reducing electrocardiographic interference in the multichannel electromyogram to help muscle fatigue assessment in low-intensity contractions.

Surface electromyography (EMG) can be used in the rehabilitation of musculoskeletal disorders, for evaluating the coordination of muscles that stabilize a joint, or as an objective tool in assessing muscle fatigue. This latter may be achieved by evaluating the low-frequency content of the EMG. However, the electrocardiogram (ECG) interference is also recorded when EMG is acquired close to the heart. It may mask or even modify the information of interest in the EMG. Different signal processing techniques have been proposed to eliminate ECG artifacts from the EMG signals, the high-pass filter being the most used one. Nevertheless, this classic filtering approach would also attenuate EMG activities below 30 Hz, which contain information from low-intensity muscle contractions. This work addresses the automatic ECG attenuation when multichannel EMG is collected on the left pectoralis major muscle during a muscle fatigue test. The proposed ECG artifact mitigation extends a successful automatic template subtraction (TS) approach, which does not require an extra reference channel and is now applied to independent EMG source signal components extracted using a blind source separation technique (ICA, Independent Component Analysis). The automatic detection of ECG components was performed through two alternative measures: entropy and Kullback-Leibler divergence. While the ECG interference seems to hamper the detection of muscle fatigue in the low-contraction regime, the association ICA+TS preserved better the EMG low-frequency content, and the entropy-based automatic detection was found to be more suitable, avoiding possible errors that might arise from manual detection procedures.

Brief Report: Alternative Pulmonary Function Measures of Emphysema in People With HIV.

People with HIV (PWH) have nearly twice the risk of emphysema than people without HIV. This risk, which has been associated with HIV-mediated changes in the lung immune environment and more extensive radiographic emphysema, may result in different patterns of airflow limitation on pulmonary function testing (PFT) than those traditionally used in people without HIV. In this prospective cohort of PWH in Atlanta, Georgia, we analyzed PFT and chest computed tomography data from July 2013 through June 2018. After comparing the prevalence of PFT measures of airflow limitation for those with and without radiographic emphysema, we used binary recursive partitioning to identify PFT measures that differentiated between PWH with and without radiographic emphysema. Among 167 PWH who had both PFT and computed tomography data during the study period, 89 (53%) had radiographic emphysema. Those with radiographic emphysema were more likely to have airflow limitations on PFTs. Recursive partitioning identified partitions at a forced expiratory volume in 1 second to forced vital capacity ratio (FEV1/FVC) of 0.78 and a residual volume of 116% predicted. These partitions enabled the identification of 84 (94%) PWH with radiographic emphysema, in contrast to the traditional diagnostic criteria of an FEV1/FVC ratio of 0.7, which only identified 49 (55%) of those with radiographic emphysema. Emphysema in PWH may have different patterns of airflow limitation on PFTs that are not adequately captured by traditional diagnostic criteria. Future studies can seek to validate these findings and determine optimal thresholds for diagnosing HIV-associated emphysema.

Can adiposity measures enhance the predictive power of the triglyceride-glucose index for metabolic syndrome in adults in the United States?

BackgroundInsulin resistance is a hallmark feature of metabolic syndrome (MetSyn). The triglyceride-glucose (TyG) index is considered a reliable surrogate measure of insulin resistance. However, the efficacy of the TyG-index combined with adiposity measures for identifying MetSyn in U.S. adults is unknown. MethodsIn the present cross-sectional study, 2746 men and women from the 2017–2020 National Health and Nutrition Examination Survey (NHANES) with physical and laboratory characteristics were included. Predictive powers (estimated by the area under the curve of receiver operating characteristic [ROC-AUC]) of TyG-index combined with adiposity for MetSyn were compared with other traditional surrogate markers of insulin resistance including the TyG index, homeostatic assessment of insulin resistance (HOMA-IR), 1/fasting insulin, and quantitative insulin sensitivity check index (QUICKI). ResultsPredictive power of TyG-WHtR (ROC-AUC: 0.875) for MetSyn was highest, followed by TyG-WC (0.866), TyG-BMI (0.845), TyG index (0.832), HOMA-IR (0.820), QUICKI (0.820) and 1/fasting insulin (0.786). TyG-WHtR and TyG-WC showed significantly higher ROC-AUCs compared with TyG-index, HOMA-IR, 1/fasting insulin, and QUICKI (p ≤ 0.001). ConclusionsTyG index combined with adiposity metrics is more effective in predicting MetSyn when compared to insulin resistance surrogates (TyG index, HOMA-IR, 1/fasting insulin, and QUICKI) which has been widely used in large cohort observational studies.

Win Ratio Analyses Using a Modified Hierarchical Composite Outcome: Insights from PARAGLIDE-HF

The win ratio (WR) is an emerging alternative for reporting composite outcomes, prioritizing clinically significant events such as mortality while incorporating surrogate measures. However, its benefits should be weighed against limitations, particularly the influence of lower hierarchical outcomes. This secondary analysis of the PARAGLIDE-HF trial performed a WR sensitivity analysis using a modified hierarchical composite outcome to assess the utility of WR sensitivity analysis and the efficacy of sacubitril/valsartan versus valsartan. PARAGLIDE-HF compared sacubitril/valsartan with valsartan in heart failure (HF) patients with ejection fraction >40% (N=466). A hierarchical outcome in the primary analysis included cardiovascular death, HF hospitalizations, urgent HF visits, and change in N-terminal pro-B-type natriuretic peptide (NT-proBNP), with a 25% decrease considered a win. In the pre-specified subgroup with ejection fraction ≤60% (N=357), sacubitril/valsartan showed a treatment effect on the hierarchical outcome (WR, 1.46; 95% CI, 1.08-1.97). Sensitivity analyses for this subgroup included: 1) excluding NT-proBNP change, 2) substituting the 25% proportion change of NT-proBNP with 10% or 50%, and 3) including renal outcomes within the hierarchical outcome. In addition to the WR, the win odds (WO), in which 50% of the ties are allocated to both the numerator and denominator of the WR-a potentially more suitable modification of the WR that accounts for the presence of ties-were presented. Excluding NT-proBNP (WR, 1.49; 95% CI, 1.00-2.22; WO, 1.12; 95% CI, 1.00-1.26), adjusting the NT-proBNP threshold from 25% to 10% or 50% (WR, 1.41; 95% CI, 1.06-1.89; WO, 1.27; 95% CI, 1.04-1.56 for 10%; and WR, 1.54; 95% CI, 1.11-2.12; WO, 1.25; 95% CI, 1.06-1.48 for 50%), and incorporating renal outcomes (WR, 1.44; 95% CI, 1.07-1.94; WO, 1.28; 95% CI, 1.05-1.56) consistently favored sacubitril/valsartan. Multiple WR sensitivity analyses support a consistent treatment benefit of sacubitril/valsartan versus valsartan in patients with ejection fraction >40% to 60%. Future studies could consider prespecifying WR sensitivity analysis for comprehensive assessment of treatment effects. PARAGLIDE-HF; ClinicalTrials.gov ID, NCT03988634 (https://clinicaltrials.gov/study/NCT03988634).

Pleasurable emotions and internalizing psychopathology: A multi-study examination of specificity and alternative explanations.

Past research has been inconclusive regarding the specificity of associations between discrete pleasurable emotions and internalizing symptoms. Contentment may be especially relevant to depression, whereas tranquillity may be especially relevant to worry. The goal of the current research was to clarify the mixed findings regarding the relation between pleasure deficits and internalizing psychopathology. Participants from three samples (Total N = 757) completed alternative measures of depression and pleasurable emotions. Participants in Study 1 also completed a measure of anticipatory and consummatory pleasure, and close peers to a subset of participants (N = 64) reported their perceptions of participants' depression severity. Participants in Studies 2 and 3 also completed a measure of worry. Across the three samples, contentment was significantly negatively associated with self-reported depression. This association could not be accounted for by tranquillity, cheerfulness, anticipatory pleasure, or consummatory pleasure. Contentment was also strongly negatively associated with peer-reported depression. Contentment was more strongly associated with depression than was cheerfulness. However, the strength of the association between contentment and depression relative to the strength of the association between tranquillity and depression depended on how contentment and depression were measured. Conversely, tranquillity was more strongly associated with worry than were contentment or cheerfulness. This study provides further evidence of the potential importance of the role of contentment in depression and tranquillity in worry. It may be useful to attend to contentment when assessing and treating depression and to attend to tranquillity when assessing and treating elevated worry.

Climate policy uncertainty and earnings management

I investigate how climate policy uncertainty (CPU) influences earnings management (EM). The analysis reveals that high levels of CPU are associated with a reduction in the absolute value of abnormal discretionary accruals. This relationship remains robust across two instrumental variable approaches, several internal and external governance factors, and various alternative measures of EM. Additionally, I find that the negative association between CPU and EM is more pronounced in firms with a higher likelihood of financial distress, greater institutional investor monitoring, and stronger corporate social responsibility (CSR) practices.

Text Spillover: Measuring connectedness of financial institutions based on news text data

The interconnectedness of financial institutions can facilitate the contagion of financial crises and poses significant risks to financial stability. While well-established econometric spillover measures exist, they are usually based on numerical data, which may not always be available or timely. This paper explores the feasibility of using text data analysis as an alternative measure of interconnectedness between financial institutions. A novel news-based spillover measure is constructed and applied to a system of five banks, using an up-to-date dataset of nearly 47,000 news articles. The results of this text spillover index are compared to the Diebold-Yilmaz spillover index for validation. The findings indicate that text data analysis can provide valuable insight into the interconnectedness of financial institutions and substantiate the underlying hypothesis that the co-occurrence of actors in news articles allows direct conclusions about their connectedness. This enables new types of analysis and extends spillover measures to a wider range of actors

The Effect of Women’s Role on Board, ESG Performance, and Tax Avoidance

This research examines the impact of board gender diversity on tax avoidance, with ESG performance as an intervening variable. Using 87 non-financial companies listed on the Indonesia Stock Exchange (IDX) with ESG scores from Thomson-Reuters ASSET4 during the 2017-2019 period, the study reveals that board gender diversity significantly influences tax avoidance, indicating that diversity does not improve tax compliance. The male-dominated boards in Indonesia limit the effectiveness of monitoring corporate activities, including tax avoidance. Additionally, gender diversity negatively affects ESG performance, suggesting that the small number of women on boards diminishes efforts to enhance sustainability. ESG performance does not mediate the relationship between gender diversity and tax avoidance, though it can reduce tax avoidance when transparency in ESG reporting is increased. Limitations include a small sample size and data restricted to the 2017-2019. Future studies could explore alternative tax avoidance measures and other corporate governance factors.

Hand in hand or left behind: The dual impact of leading firms’ digital technologies on industry digital transformation

This study, utilizing Chinese listed companies from 2007 to 2022, reveals that enterprises can improve their digital transformation strategies by learning from the digital technologies of industry-leading companies. By free-riding on technology adoption, enterprises can reduce their R&D investments in implementing digital transformation projects, as existing digital technologies can be copied and improved for their own use. Furthermore, we find that firms with stronger research capabilities are more efficient at learning from leading firms’ digital technologies. Better digital technologies not only optimize a firm’s strategic plan for digital transformation but also enhance the actual implementation of such projects. This enhancement is achieved by easing financing constraints and diversifying the upstream chain. Our findings are robust to alternative variable measures and endogeneity tests. Overall, we highlight the technological spillovers of digital technology innovations by leading firms, facilitating a deeper digital transformation of other firms through various governance channels.