What motivates firms in emerging economies to internationalize? In contrast to the previous literature suggesting that a competitive advantage is a key for firms to enter foreign markets, we propose one new explanation: the zonal advantage (ZA). ZA allows companies to internationalize without...

We examine the effect of nonfamily leadership in family firms, whereby family members do not act as either a board chair or a CEO, on corporate earnings management. We find that firms with nonfamily leadership conduct significantly more earnings management than firms with family leadership,...

In this paper, we contribute to the literature by including a knock-out barrier option in a compound real option model to take account of immediate project failure, a so-called sudden death. We apply the model to the case of hydrogen infrastructure development. In our case study, we find that...

In the solid desiccant wheel air-conditioning system, the performance of the desiccant wheel is critical to the capability, size and cost of the whole system. Constructing mathematical model is an effective method for analyzing the performance of the rotary wheel as well as the system. The model...

In ejector refrigeration systems, the performance of the ejector is critical to the performance, capability, size and cost of the whole system. Construction of mathematical models has been used as an effective method for analyzing the performance of the ejector as well as the whole refrigeration...

A biomass energy exploration experiment was conducted in Jiangjiazhuang, a typical agro-village in Shandong, China from 2005 to 2009. The route of this study was designed as an agricultural circulation as: crops -- crop residues -- "Bread" forage -- cattle -- cattle...

Rotary desiccant air conditioning system, which combines the technologies of desiccant dehumidification and evaporative cooling, is advantageous in being free from CFCs, using low grade thermal energy and controlling humidity and temperature separately. Compared with conventional vapor...