Dr Yan Sun

Consumers in the Association of Southeast Asian Nations (ASEAN) countries represent rapid growth, and they are anticipated to become next wave of important markets for luxury fashion sector. This empirical study aims to examine millennials’ perceptions towards luxury fashion brand values and how these influence their purchase intentions in Indonesia, the biggest market in the ASEAN. Through quantitative research, the primary data was collected from 301 selfcompleted online questionnaires. It is revealed that Indonesian millennials regard the consumption of luxury fashion brands as an investment. Meanwhile, ethical and sustainability issues have become increasingly important in consumers’ decisions to purchase luxury fashion brands. Based upon the value-based segmentation of luxury consumption, the present study recognizes that Indonesian millennials prioritize symbolic and financial values and seek conspicuousness in line with self-identity.

This paper proposes a new objective function for manufacturer considering the negative externality of unrecycled products (NEUP), and develops three cooperative recycling models: non-cooperative, fundcooperative and labour-cooperative. Results indicate that compared to non-cooperative, while fund-cooperative can enhance the recycling rate, it hurts the system’s profitability. In contrast, labour-cooperative can achieve a win-win situation for both. Moreover, considering NEUP expands the dominant space of fund-cooperative in recycling rate, but weakens its advantage in market demand. Notably, considering NEUP may render cooperative recycling ineffective in improving profit, which largely depends on the degree of considering NEUP and recycling cost coefficient ratio.

Purpose
The COVID-19 pandemic has prompted the fast growth of online music festivals. This paper explores how festivalgoers’ experience affects their satisfaction and drives their loyalty to re-attend online music festivals in China.

Design/methodology/approach
Based on an understanding of the music festival experience and the characteristics of live-streamed performances, this paper investigates five factors that affect festivalgoers’ satisfaction and loyalty, namely the music experience, ambience experience, separation experience, social experience and novelty experience. The relationships between festivalgoers’ experience, satisfaction and loyalty are also explored using structural equation modelling techniques.

Findings
The empirical results suggest that four of the above-mentioned five factors of the online music festival experience directly affect festivalgoers’ satisfaction and loyalty. The online mode is a rapid adaptation of and preferred alternative to offline music festivals, whilst the creation of the experience, along with satisfaction with and loyalty to the online music festival, are determined by different factors compared to offline modes. Overall festival satisfaction positively enhances the relationship between festivalgoers’ experience and loyalty to online music festivals.

Originality
This study explores a phenomenon that has evolved quickly since COVID-19 and will, potentially, have an ongoing and enduring impact on the music festival sector. It differentiates the understanding of festivalgoers’ experience in online and offline modes, which is a new addition to the literature. It also enriches the theoretical understanding of the experience of, satisfaction with and loyalty to online music festivals. Keywords: Online music festival, Festival experience, Festival satisfaction, Festival loyalty

This study compares the discourse and quality of environmental information disclosure (EID) in reports from five banks in Net-Zero Banking Alliance (NZBA) and four banks in China over the period 2016–2021. Python is employed as the primary research tool to work out the high-frequency words and the word co-occurrence matrix. With the theoretical framework of the Global Reporting Initiative's (GRI) six principles for defining report quality, the Analytic Hierarchy Process (AHP) is employed to construct a quality assessment model, calculating the total weight of each corpus. The results indicate distinct differences in the information disclosure themes between NZBA and Chinese banks. As for the quality, NZBA banks exhibit higher quality environmental information disclosure compared to Chinese banks. Specifically, NZBA banks outperform in the principles of balance, accuracy, and clarity. This study contributes significantly to the analysis of environmental information disclosure, highlighting disparities in discourse and report quality between NZBA and Chinese banks. The findings offer valuable insights for banking practitioners, aiding them in enhancing the quality of environmental information disclosure. This study further reflects the varying economic and developmental priorities of the two banking contexts, influenced by economic and technological cycles.

Fiscal revenue incentives and local government industrial behavioral choices are informed by the characteristics of local tax systems, which impact local industrial emissions. This study uses data on commodity taxes and industrial emissions in prefecture-level cities in China from 2003 to 2021 to validate the theoretical hypotheses. The results show that (1) there is a significant positive correlation between the proportion of local commodity taxes and industrial emissions; this conclusion is robust. Moreover, under a tax-sharing system, heterogeneity in the emission effects of commodity tax industries can be caused by internal divisions and adjustments in commodity taxes. (2) Transmission channels include expanding the production scale of heavily polluting enterprises and reducing environmental requirements for large taxpayers, and increasing land development. Local areas have been locked into an extensive economic development model, which has increased industrial pollution through dependence on commodity taxes. The study’s research findings contribute to improving the theory of tax-sharing incentives, shows the reactions of enterprises and governments under institutional inertia, and provides policy directions for high-quality economic development and transformation。

This paper study the role of digital finance in driving industrial and green transformation by considering reginal heterogeneity. The result aim to provide insights for policymakers and practitioners to develop targeted strategies for promoting sustainable industrial development through the leveraging of digital finance and technological innovation.
This paper examines how digital finance affects the industrial and green transformation in China, considering its heterogeneity across various aspects and dimensions. It uses panel data from 31 provinces and municipalities in China during 2011-2020 to analyse the relationship between digital finance and industrial transformation, with technological innovation as a mediating factor. The findings are robust and tested by using various robust and endogeneity approaches.
The results show that digital finance has a positive and significant impact on the advancement, efficiency, and green aspects of industrial transformation, which is mediated by technological innovation. As the levels of digital finance development and technological innovation improve, the incentive effect of digital finance strengthens. Additionally, the positive impact of digital finance on the efficiency of industrial transformation is only observed in the eastern regions, while in the central and western regions, digital finance primarily influences the advancement and green aspects of industrial transformation.
This paper introduces the digital finance and ecological indicators into the analysis of industrial structure transformation, presenting a unique contribution to existing literature. To our knowledge, this is one of the first papers to include digital finance, technological innovation and green transformation of industrial structure within the same research framework.

Five factors are found to influence millennials when buying vegan leather luxuryproducts (VLLPs): sustainability awareness, peer pressure, and the perceived conspic-uousness, quality and aesthetics of these products. Five factors are identified, all pos-itively impacting purchase intention: sustainability awareness, positive friend orfamily opinion on VLLPs, and the perceived conspicuousness, quality, and aestheticsof these products. Brands producing VLLPs and targeting millennials should focus onthese factors while creating a marketing strategy.

Smart technology applications in hospitality can leverage user experience values only if they are motivated to
adopt the provided technology. This study aimed to understand Airbnb guests’ intentions to adopt smart voice
assistants (SVAs) like Amazon Alexa or Google Home. Underpinned by social cognitive theory (SCT), a revised self-efficacy-based value adoption model (SVAM) was developed for the study. A survey sample of 255 UK Airbnb guests was analysed using PLS-SEM statistical technique. The results indicate that perceived functional value, perceived emotional value and perceived privacy risk were the significant determinants for Airbnb guests’ intention to adopt SVAs, while the effect of perceived social value was insignificant. Self-efficacy directly influenced SVA adoption intention among Airbnb guests and indirectly via the perceived values. Our multiple group analysis suggests that self-efficacy on perceived functional value contrasted significantly between everyday users and occasional users. This study is one of the pioneering empirical studies investigating guests’ technology adoption behaviour in the Airbnb context. Specifically, the revised SVAM model advances SCT literature and contributes to understanding smart technology adoption associated with Airbnb guests. Also, this study provides practical implications for Airbnb stakeholders to enhance the Airbnb guest experience value by using Airbnb smart technology applications. 

Purpose - Social media influencers (SMIs) play an increasingly important role in influencing youth and their shopping behaviours in digital marketing. Research has examined various but fragmented SMIs, which cause inconsistency in empirical results. This research seeks to categorise the most popular SMIs in luxury fashion and examine their distinctive effects on Gen Z consumption in China.

Design/methodology/approach - We categorise SMIs into four groups based on two dimensions, i.e. network interactivity versus social connectedness. Drawing on the social network theory, we develop the research model. A sample of 400 survey data is collected and analysed using the PLS-SEM technique.

Findings - The empirical results suggest that among the four popular SMIs groups, the effects of celebrities, opinion leaders, and friends and peers on luxury fashion consumption of Gen Z are statistically significant while that of advertisers are insignificant; that friends and peers have the most substantial effect among the others.

Origin/value - The study contributes to understanding SMIs and consumer behaviour in digital emerging markets. By categorising SMIs, this study reconciles inconsistencies in the concept. This study contributes to a better understanding of SMIs and their roles in the digital marketing of luxury fashion consumption.

Purpose. This study investigates the use of gamification in promoting the silver generation’s
adoption of mobile payment technology through the gamified cultural practice of gifting red packets. It considers the effectiveness of using gamification in a cultural context to promote technology acceptance among older adults. This crossover between digital technology and cultural traditions brings unique gaming elements to the adoption of technology. 

Design/methodology/approach. Drawing upon Technology Acceptance Model (TAM) and prospect theory, a research model is evaluated using structural equation modeling. Data were collected via survey from elderly consumers who are current users of WeChat but are yet to use its mobile payment functions.

Findings. The results reveal the perceived effectiveness of gamification is determined by the
perceived enjoyment of the game and contributes to users’ attitude development, directly and
through its perceived usefulness. Perceived risks were identified as a barrier to converting positive attitude into adoption intention. 

Research implications. The findings contribute to the conceptualization and understanding of the effectiveness of gamification in technology adoption, specifically among the silver generation. 

Originality/value. In contrast with previous gamification studies on gamified experience, this study introduces a new conceptualization of the perceived effectiveness of gamification and its measurement. This study validates game engagement as being effective in encouraging seniors to adopt a technology. In an era of an aging population where digitization is a norm, improving the digital literacy and digital inclusion of elders by encouraging them to adopt technology is essential to developing a more accessible and inclusive social environment.

Similarity measure design on non-overlapped data was carried out, and compared with the case of overlapped data. By the application result, it was proved that the conventional similarity measure was not proper to calculate the similarity measure of the non-overlapped case. To solve the similarity measure design problem, neighbor data distance was considered to design the similarity measure of non-overlapped data. Hence different approach to design similarity measure was proposed and proved with consideration of neighbor information. With the example of artificial data, similarity measure calculation was carried out. Similarity measure extension to intuitionistic fuzzy sets(IFSs) containing uncertainty named hesitance was also followed