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Can Data Assets Be Securitized—Discussion on Four Feasible Modes Hu Zhengqing, Sun Zhan, Huang Qianqian, Yi Chengqi, Yu Shiyang Management Review    2024, 36 (12): 37-46,59.   Abstract （993）      PDF （10683KB）（307）       Knowledge map    With the rapid development of the data element market, the commercial value of data elements is gradually being paid attention to and recognized by enterprises. As an important asset, data has become one of the key elements that cannot be ignored in the process of enterprise development. The value realization path of data elements from resource to asset and then to securitization has opened up a new financing channel for enterprises. This paper attempts to analyze the concept, feasibility and possible potential risks of data asset securitization. On the basis of innovative practical experience, four models of data asset securitization are exploratorily proposed, and the operating mechanism, main characteristics and applicable enterprises of each model are discussed in depth. Then we deeply explore the operating mechanism, main characteristics, and applicable enterprises of each model, and propose the relevant supporting policies and regulatory mechanisms that can support the high-quality development of data asset securitization in the future, in the hope of providing useful reference for the high-quality development of data asset securitization in China. Reference | Related Articles | Metrics

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The Impact of Digital Transformation on Enterprise Financial Performance: The Mediating and Moderating Roles of Dynamic Capabilities Wang Kaiyang, Sun Zhuo, Chen Pengcheng Management Review    2024, 36 (12): 249-262.   Abstract （623）      PDF （11466KB）（96）       Knowledge map    In the context of the digital economy, enterprises seek to enhance their financial performance through digital transformation. By constructing a financing-production decision-making model under the condition of random fluctuations in business results, this paper reveals the internal mechanism by which digital transformation affects financial performance through dynamic capabilities, and points out the moderating and mediating roles of financial flexibility, as a specific dimension of dynamic capabilities, in the process of performance improvement. Based on the A-share panel data from 2007 to 2020, this paper tests the theoretical model, and the empirical study finds that: first, digital transformation can improve the adaptability of enterprises to market environment fluctuations, and thus can significantly improve the financial performance of enterprises; second, financial flexibility plays both mediating and moderating roles in the above process, and enterprises with financial flexibility can better improve their financial performance by implementing digital transformation. This paper helps to enrich the theory about the role of digitalization in enterprise management and provides relevant enlightenment for better exerting the role of enterprise digital transformation. Reference | Related Articles | Metrics

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Quantitative Assessment and Optimization Paths of Data Factor Policies Based on the PMC Index Model Zhang Xi, Shi Yanwen, Du Wanli, Sun Kexin, Wang Xuyan, Zhang Te, Pian Yutong, Wang Qiuren Management Review    2024, 36 (12): 3-14.   Abstract （543）      PDF （10413KB）（97）       Knowledge map    China’s data factor market is still in its early stage of development, making scientifically-based policy formulation crucial for its stable growth. This paper employs content analysis to examine 28 national-level data factor policies as of the end of 2023 and utilizes the PMC index model for quantitative evaluation. The results indicate that 5 policies achieved a perfect level, 16 were rated excellent, and 3 were acceptable. There remains room for improvement in the diversity, comprehensiveness, balance, and sustainability of these policies. This paper proposes the following recommendations: First, to address the insufficient coverage of certain stakeholders in previous policies, a more inclusive cooperation mechanism should be established to ensure active participation from all parties in developing the data factor market. Second, to enhance the support for technological tools and service scenarios, which were rated lower in previous policies, future policies should further strengthen these areas. Third, given the high scores in risk management and lower scores in value creation, future policies should focus on improving efficiency and value creation while ensuring security and control. Fourth, to address the lower scores in long-term planning within policy timeliness, the sustainability of future policies should be enhanced. Reference | Related Articles | Metrics

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Data Elements Empower Enterprise Innovation: From the Perspective of Internal and External Resources Chen Lili, Zhang Ruoqi, Rong Ke Management Review    2024, 36 (12): 15-25.   Abstract （414）      PDF （10948KB）（221）       Knowledge map    Giving full play to the role of data elements to empower enterprise innovation and development is an important channel for the high-quality development of China’s economy. Based on the data of A-share listed companies from 2007 to 2022, this paper measures data elements from four dimensions, namely, data element stock, data development capability, data-driven business application, and data value realization, respectively, to explore the impact of data elements on enterprise innovation. It is found that data elements are conducive to improving corporate innovation. From the perspective of internal resources, data elements significantly reduce the level of information asymmetry, which in turn promotes enterprise innovation, and executives with information technology backgrounds are better able to utilize data elements to reduce the level of information asymmetry in enterprises, which in turn better promotes enterprise innovation. From the perspective of external resources, data elements enhance innovation by reducing the concentration of the enterprise supply chain and obtaining more diversified external resources. Further research finds that data elements are more effective in promoting innovation for firms in growth and decline periods, firms in non-polluting industries, and firms in cities with better digital economy development. The research provides evidence on how enterprises can realise independent innovation and how data elements can empower the real economy to develop at a high quality. Reference | Related Articles | Metrics

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The Impact of Global Key Shipping Channel Disruption on Supply Chain—Case Study on the Grounding of Ever Given in Suez Canal Li Dengyuhui, Jiao Jianbin, Wang Shouyang, Zhou Guanghui Management Review    2025, 37 (2): 237-248.   Abstract （313）      PDF （10371KB）（136）       Knowledge map    The safety and smooth flow of key shipping channels is a prerequisite for supply chain operations. The grounding of Ever Given led to a six-day blockage of the Suez Canal, disrupting the international trade and logistics supply chain seriously. It set the highest record for container shipping in terms of vessel tonnage, congestion degree, and economic loss. This paper scrutinizes the whole process of the grounding of Ever Given and the structural risks faced by the Suez Canal route. The impact is analyzed from the perspectives of the chain reaction of global supply chain, the international crude oil price fluctuation, large-scale congestion in ports, the rapid growth of shipping price, and impacts on China’s foreign trade. Then, this paper summarizes the implications of this blockage for global supply chain risk management, and provides guidance for impact assessment and emergency management of the possible disruptions caused by other blockages of key shipping channels. Reference | Related Articles | Metrics

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Digital Technology Adoption and Employment Structure: Empirical Evidence from Listed Companies Guan Rong, Wang Heting, Wang Huijuan Management Review    2025, 37 (8): 3-15.   Abstract （304）      PDF （1242KB）（223）       Knowledge map    The transformation and development of enterprises applying digital technology is the kernel guarantee to promote the high-quality development of China’s digital economy, and the resulting impact and influence on the micro labor market is an issue that needs to be urgently resolved for the development of the country’s major strategies. Based on the data of Chinese listed companies from 2011 to 2020, this paper takes a micro perspective to explore the impact of digital technology application on the employment structure of enterprises and the mechanism underlying the impact. It is found that the application of digital technology has an “inverted U-shaped” relationship with the total number of employees and the number of unskilled employees, but there is a significant positive relationship with the number of skilled employees, indicating that the application of digital technology can help optimize the employment structure of enterprises and thus has an empowering effect. Further analysis reveals that the application of digital technology affects the employment structure of enterprises mainly by enhancing innovation capability, affecting the level of skill premium, and improving productivity. The spillover effect of digital technology on enterprises varies significantly, depending on their production scale, social burden and likelihood of being substituted. The relevant conclusions bring more empirical support for clarifying the mechanism of how digital technology influences the employment structure of enterprises, and provide certain policy insights for promoting the integration of digital technology with the real economy. Reference | Related Articles | Metrics

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Measurement of Regional Green Development and Exploration of Its Spatial Network Su Yi, Fan Qiming Management Review    2025, 37 (2): 19-30.   Abstract （297）      PDF （10618KB）（121）       Knowledge map    This paper constructs a green development evaluation index system based on DPSIR model, and explores its spatial network structure on the basis of measuring regional green development level. The results are as follows. (1) Green development is not balanced among regions. The level of green development in each region can be divided into four categories: mature type, rapid development type, gradual promotion type and early growth type. Economically developed regions are more likely to generate development advantages through “response + drive”, while resource-dependent and traditional industry-intensive regions lag behind in green development due to lack of innovation. (2) In the space network, inter-regional connectivity is strong and there is no strict hierarchical structure, which is conducive to promoting inter-regional cooperation and complementarity. However, the stability of the network is weak, and a high-quality regional cooperation pattern has not yet been formed. (3) Location factors, rather than capacity factors, are the key to whether a region can occupy an important position in the space network. Compared with regions at high levels of green development, regions at low levels of green development are more likely to produce spillover effects. The research results provide ideas for further promoting high-quality green development in China. On the one hand, all regions should pay attention to the coordinated development of DPSIR elements, open up the transformation channel of “policy-response-driving force”, excavate the driving path from productivity to “pressure reduction-state improvement-green welfare”, and explore the high-quality development path according to local conditions. On the other hand, it is necessary to break the barriers between regions, give play to the role of specific regional ties, stimulate the leading role of green areas, increase support for weak green areas, build a spatial pattern of green, low-carbon and high-quality development, and promote coordinated regional development. Reference | Related Articles | Metrics

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The Structure and Evolution of Industrial Embodied Carbon Emission Flow Network in China under the Constraint of Carbon Peaking Wang Zhaohua, Wang Shuohan, Li Hao, Wang Song, Zhang Shuang Management Review    2025, 37 (4): 3-16.   Abstract （292）      PDF （11018KB）（233）       Knowledge map    The upstream and downstream of the industrial production process are highly correlated, so changing the existing production process is bound to bring about transformations in the whole industrial system. Therefore, in order to achieve the carbon peak in the industrial sector, it is necessary to study the embodied carbon emission flow relationship between different industries to promote carbon emission reduction collaboratively. In this paper, we compile China’s input-output tables of 2025 and 2030 based on GRAS method and use expanded environment input-output model (EEIO) and social network analysis method (SNA) to identify the characteristics of the structure and evolution of the embodied carbon emission flow networks of China’s industrial chain during 2010 to 2030. The results show that during 2010 to 2030, the embodied carbon emissions of the power sector show a rapid rising trend, while those of petrochemical, chemical, non-metallic mineral products, smelting and pressing of mental decrease between 8% and 30%. As for the perspective of network structure, chemical, non-metallic mineral products and mental smelting and pressing sectors are the main embodied carbon “importers”, while electric power, chemical and special equipment manufacturing sectors are the main embodied carbon “suppliers”. Electric power sector, chemicals and specialized equipment manufacturing contribute 40% of the intermediation capacity in embodied carbon emission network. Under the constraint of carbon peak target, the center of embodied carbon network is gradually transferred to the tertiary industry, and electric power, service and transportation sectors become important “bridge” in the process of embodied carbon transfer. Reference | Related Articles | Metrics

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Mechanism of Value Co-creation in Construction Projects with the Integrated Digital Delivery Mode: A Service Ecosystems Perspective Wang Guangbin, Yang Yuchen, Zhang Wenjuan, Liu Gang, Cao Dongping Management Review    2025, 37 (1): 257-272.   Abstract （288）      PDF （1947KB）（134）       Knowledge map    In the context of national high-quality development requirements, value-driven strategies have become a pivotal direction in professional management in construction. Integrated Digital Delivery (IDD) is an innovative execution mode for realizing value delivery in construction projects. This study focuses on the value co-creation process within the IDD mode from a service ecosystems perspective, utilizing the Structured-Pragmatic-Situational case study methodology to establish a value co-creation mechanism model. This study reveals that: (1) the value co-creation within the IDD mode is based on a service ecosystem characterized by a loosely coupled actor-to-actor oriented network; (2) institutions govern the relationships between actors across regulative, normative, and cognitive dimensions, guiding decisions and actions based on project value; (3) digital technologies enable cross-phase collaboration, facilitating the integration and simplification of project workflows; (4) interaction is a crucial antecedent to value co-creation, enabling actors to engage in each other’s value creation processes; (5) the value emergence from the heteropathic resource integration is the cornerstone of value creation within the IDD mode. This study innovatively abstracts construction projects as service ecosystems, revealing how the IDD mode facilitates value co-creation through the interplay of various elements, and making a theoretical contribution to the studies of value co-creation in construction projects and the theoretical framework of service-dominant logic. Reference | Related Articles | Metrics

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Can Executive Opportunistic Stock Selling Restrictions Improve Stock Price Informativeness? Evidence from the “New Regulation on Insider Selling” in China Huang Wan, Luo Hong Management Review    2025, 37 (2): 3-18.   Abstract （272）      PDF （12694KB）（163）       Knowledge map    It is of great significance to effectively regulate executives’ selling behaviors to promote the long-term, stable and healthy development of capital market. Based on the “New Regulation on Insider Selling” in China and using data from A-share listed companies from 2012 to 2021, this paper investigates the impact of restricting executives’ opportunistic stock selling on stock price informativeness. The results show that restricting executives’ opportunistic stock selling can help improve stock price informativeness. This effect is more significant when the selling scale is large and when there are stock sales by core executives. Moreover, this promotion effect is also strengthened for firms that are exposed to a poor information environment and prone to manipulate information disclosure. Further analysis suggests that restricting executives’ opportunistic stock selling can promote firm-level information collection by external investors, as evidenced by wider institutional shareholdings and more attention from investors. In addition, restricting executives’ opportunistic stock selling makes a firm’s current stock price more reflective of its future earnings. The main conclusion still holds after a series of robustness tests. Overall, this paper enriches the literature on both insider trading supervision and stock price informativeness, and has enlightenment for regulatory authorities to improve the design of stock selling system and promote the high-quality development of capital market. Reference | Related Articles | Metrics

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Local Government Debt Expansion and Corporate Trade Credit Supply Wu Yuhui, Mo Yifan Management Review    2025, 37 (3): 3-16.   Abstract （269）      PDF （1240KB）（154）       Knowledge map    This paper empirically examines the impact of government debt expansion on corporate trade credit supply and its underlying mechanisms based on hand-collected and compiled comprehensive data on local government debt and financial data of non-financial listed companies on the Shanghai and Shenzhen stock exchanges from 2007 to 2019. The findings show that government debt expansion has a significant inhibitory effect on corporate trade credit supply, and the effect is more pronounced in enterprises that are non-state-owned, small-scaled, and exposed to less industry competition. The mechanism test reveals that the expansion of government debt scale aggravates the financing constraints, operational risks, and tax burdens of enterprises, thereby reducing their trade credit supply. Further research shows that government debt expansion shortens the supply period of trade credit and lowers its quality. This study provides reference and guidance for strengthening government debt governance and preventing systemic financial risks. Reference | Related Articles | Metrics

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The Double-edged Effect of Perceived Algorithmic Control on Work Engagement of Gig Workers Luo Jinlian, Zhang Chao, Zhao Chenfang, Zhong Jing Management Review    2025, 37 (2): 175-186.   Abstract （250）      PDF （11005KB）（152）       Knowledge map    Based on conservation of resources theory and social identity theory, this paper builds a model to explore the mechanism of how perceived algorithm control affects the level of gig workers’ work engagement. By analyzing and testing 385 valid empirical data collected from takeout riders, online ride-hailing drivers and instant delivery workers, this paper examines the “double-edged sword” effect of perceived algorithmic control on the work engagement of gig workers. The results indicate that perceived algorithmic control has a “double-edged sword” effect on the work engagement of gig workers, perceived algorithmic control may, on the one hand, improve the role clarity of gig workers and, on the other hand, lower work engagement by causing a loss of work autonomy. Furthermore, perceived algorithmic procedure fairness may also strengthen the ability of perceived algorithmic control to improve gig workers’ work engagement through role clarity and mitigate its ability to weaken their work engagement through job autonomy, i.e., the higher the perceived algorithmic procedure fairness is, the better able perceived algorithmic control is to facilitate gig workers’ work engagement by increasing their role clarity, while the lower the perceived algorithmic procedure fairness is, the more likely perceived algorithmic control is to dampen gig workers’ work engagement by diminishing their job autonomy. Reference | Related Articles | Metrics

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The Dynamic Process of Overcoming Liability of Ecosystem Integration and Ecosystem Configuration Combination: A Case Study and an fsQCA Analysis Gao Yaqi, Cai Wenxuan, Shi Xianwei Management Review    2025, 37 (3): 261-275.   Abstract （231）      PDF （2560KB）（116）       Knowledge map    The concept of liability of ecosystem integration (LoEI) expands the scope of discussions on liability of foreignness (LoF) and liability of outsider (LoO). Regarding the influencing factors of companies going overseas, LoEI broadens the scope of responsibilities that foreign entrants may face and proposes the establishment of a multi-layered local ecosystem to be effective in the host country market, but the process mechanism of how companies overcome LoEI has not yet been explored. This paper uses case analysis and NCA and fsQCA methods, taking legitimacy acquisition as a clue to analyze the dynamic process mechanism of how overseas enterprises overcome LoEI, and explore the combination of ecosystem configurations that affect the level of overseas enterprises overcoming LoEI. The study concludes that: (1) the dynamic process model of LoEI includes three stages: encountering LoEI at the initial market entry period, maintaining LoEI at the market development period, and defending LoEI at the period of external shocks; (2) ecosystem configuration combinations that produce high LoEI-overcoming levels include institutional distance, Gini index, urbanization rate, foreign capital inflow, trade competitive advantage, and economic complexity. The research provides theoretical support and guidance for overseas enterprises and economically open countries to achieve high local ecosystem embeddedness and build their development environment. Reference | Related Articles | Metrics

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A Preliminary Study on the Value Effect and Economic Consequence of Incorporating Data Assets into the Balance Sheet Lyu Meng, Zhao Lifang, Zhong Yingcai Management Review    2024, 36 (12): 47-59.   Abstract （228）      PDF （11009KB）（62）       Knowledge map    This paper uses the event study and case study methods to analyze the value effect and economic consequence of incorporating data assets into the balance sheet. First, this paper compares the market response to data-related companies vervus other companies around the releases of two key accounting policies related to the incorporation of data assets into the balance sheet. The findings indicate that the cumulative abnormal returns of data-related companies show a significant increase during the event window, suggesting that investors view the inclusion of data assets to the balance sheet as favorable news for these companies. Second, through simulating corporate accounting practices, the paper conducts a comparative analysis of the economic impact of data asset inclusion. It is found that companies’ liabilities, current ratios, and profit margins are all affected to a certain extent after incorporating data assets into the balance sheet. Although incorporating data assets into the balance sheet helps to enhance the market’s recognition of the value of data resources, it may also provide potential opportunities for management to manipulate financial statements. The paper concludes that accounting policies related to data assetization have taken an important step in leveraging the value of data resources, but the full realization of this value still requires the constraints of formal institutions and market intermediaries. Reference | Related Articles | Metrics

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How Startups Achieve Disruptive Innovation in the Digitalization Era: Dynamic Marketing Capability Perspective Wu Chunlin, Zhao Tianyue, Cao Xin, Ouyang Taohua Management Review    2025, 37 (1): 273-288.   Abstract （222）      PDF （1960KB）（167）       Knowledge map    The new generation of information technology has brought new opportunities for disruptive innovation. In the fiercely competitive market scenario, startups can gain mainstream market share and achieve rapid advancement through disruptive innovation. This paper conducts a vertical case study on Tiying Media, a startup company, to explore the evolutionary process and underlying mechanisms of disruptive innovation achieved through dynamic marketing capabilities empowered by digitalization. The findings are as follows. Firstly, compared to traditional disruptive innovation, in the context of digitalization, disruptive innovation in startups has leading, sharing, and leapfrogging characteristics in terms of innovation motivation, innovation process, and innovation results, and is an advanced extension of traditional disruptive innovation. Secondly, startups utilize digital resources to empower dynamic marketing capabilities, forming an integrated framework of “data absorption - data collaboration - data transformation”. Through the dynamic alignment of internal capabilities and external demands, startups drive continuous disruptive innovation. Thirdly, startups leverage digital resources to establish technological chains, business platforms, and value ecosystems, facilitating exponential growth and leading the digital transformation of the whole industry, thus achieving comprehensive and multidimensional disruptive innovation. This paper constructs a dynamic process model for achieving disruptive innovation in startups within a digital context. It not only addresses the limitations of traditional innovation theories in the era of the digital economy but also holds significant practical value for startups in seizing opportunities for digital transformation and upgrading, thereby facilitating latecomer advantages and contributing to the strategic goal of realizing “Digital China”. Reference | Related Articles | Metrics

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How does Business Ecosystem Drive Urban Economic Resilience:A Configuration Analysis Based on Complex Systems View Zhao Yunhui, Liang Yuqi, Feng Taiwen, Du Yunzhou Management Review    2025, 37 (2): 57-71.   Abstract （210）      PDF （13422KB）（122）       Knowledge map    Improving the urban economic resilience can help cities more effectively respond to external shocks caused by multi-dimensional and multi-type risks, and thus achieve high-quality development. Finding out how to optimize business environment to drive urban economic resilience is the key for government policy development, and also an important issue in management research. In this paper, we construct a two-dimensional construction of “risk-resistant process - industrial structure state”, and conduct a configuration analysis based on 245 cities by NCA and fsQCA methods to explain how business environment drives urban economic resilience. The study shows that: (1) single factors of business environment do not constitute the necessary condition for generating high urban economic resilience, but improving the level of public services, human resources and financial services plays an important role in generating high urban economic resilience; (2) “multiple concurrencies” of business environment factors generate diverse configurations of high urban economic resilience. To be specific, urban economic resilience is driven through the optimization or substitution of business factors. The 4 types of business environment show that there are multiple paths to generate high urban economic resilience; (3) a favorable business environment can drive industrial structure upgrading and thus drive urban economic resilience. The findings can provide important insights for Chinese cities to optimize their business environment, cope with external shocks, and shape high economic resilience. Reference | Related Articles | Metrics

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Employee Green Behavior in Organizational Management: Literature Review and Prospects Zhang Shujie, Wang Xingyuan, Tang Guiyao Management Review    2024, 36 (12): 222-234.   Abstract （206）      PDF （11579KB）（71）       Knowledge map    With the increasing concern of the international community on environmental issue, much attention has been paid to the study of how individuals contribute to environmental sustainability in organizational settings. The concept of employee green behavior arose and has become an important research topic in the field of organization management. In recent years, the research in the field of employee green behavior has developed rapidly. However, there is still a lack of consistent understanding on the conception, classification, theory and measurement of employee green behavior, and the research focus is relatively scattered. Therefore, it is necessary to build an integrated research framework to analyze and sort out the existing researches. In view of this, this paper first defines the concept and connotation of employee green behavior; Second, the theoretical basis of employee green behavior is analyzed from five perspectives: norm, motivation, exchange, attitude, and emotion. Then the measuring methods of employee green behavior are sorted out. Finally, based on the multi-level perspective, a research framework is constructed that integrates the antecedents, mediator, moderator, and outcomes of employee green behavior. Several research directions are proposed. Reference | Related Articles | Metrics

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Does the Development of Digital Economy Narrows the Income Gap between Urban and Rural Areas?—Empirical Evidence from Chinese Cities Li Zhen, Chang Zhongze, Dai Wei, Wang Shaobin Management Review    2025, 37 (4): 61-71.   Abstract （206）      PDF （1198KB）（276）       Knowledge map    Narrowing the income gap between urban and rural areas is one of the most important ways to promote common prosperity. At the same time, the world has entered the digital era, and the digital economy has had a significant impact on the income gap between urban and rural areas. This paper explores the theoretical logic and specific mechanism of the impact of digital economy on the urban-rural income gap. Using the data of 290 cities in China, this paper makes an empirical analysis by constructing the digital economy index system and using the fixed-effect model, generalized moment estimation, panel threshold model and other methods. The results show that there is a significant U-shaped relationship between digital economy and urban-rural income gap, which is well supported by robustness test and endogeneity test. Mechanism analysis shows that digital economy can narrow the urban-rural income gap by promoting the level of urbanization. Threshold regression analysis shows that the effect of digital economy development on urban-rural income gap is regulated by per capita GDP and the proportion of science and technology expenditure in GDP. Based on the theoretical analysis and empirical results, this paper puts forward some targeted policy suggestions to narrow the urban-rural income gap. Reference | Related Articles | Metrics

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Risk Spillover and Dynamic Conduction among Oil, Gold and Stock Markets: New Evidence from Implied Volatility He Meng, Zhu Xuehong, Chen Jinyu, Liao Jianhui Management Review    2025, 37 (1): 3-15.   Abstract （205）      PDF （2603KB）（417）       Knowledge map    The outbreak of COVID-19 has had a systematic impact on global financial markets. Based on a new perspective of implied volatility, a cutting-edge risk spillover network model is adopted to comprehensively examine the intensity, scale, and time-varying characteristics of risk spillovers among oil, gold, and major global stock markets. Then, based on the marginal spillover analysis method, the sources and dynamic transmission paths of risk spillovers among oil, gold, and stock markets are observed. The results show that there is a significant and asymmetric risk spillover effect among global oil, gold and stock markets, and the effect increased rapidly in the COVID-19 period, during which the spillover index reached its peak. The oil and gold markets are important sources of risk in the stock market, and the mainland Chinese stock market is the most important exporter of risk. After the outbreak of the epidemic, especially during the first two circuit breakers in the US stock market, the intensity of risk spillovers in the oil market and the Brazilian stock market increased sharply. With the effective control of the domestic epidemic, the mainland Chinese stock market has gradually transformed into a risk-taker. Reference | Related Articles | Metrics

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Why Leader’s Trust Hurt the Relationship between Peers? Feeling Trusted and Workplace Ostracism: A Social Comparison Perspective Lu Hailing, Zhang Xin, Duan Guang, Wang Yongli, Yang Yang, Liu Dege, Lv Haoran Management Review    2025, 37 (1): 166-176.   Abstract （204）      PDF （1306KB）（257）       Knowledge map    Feeling trusted is a crucial part of trust research. Previous researches on the consequences of feeling trusted have largely developed along two paths: the first has examined the impact of feeling trusted on employees, and the second has examined the impact of feeling trusted on the relationships between employees and their leaders. However, there is no current research exploring the potential impact feeling trusted on the relationships between employees and their peers. To fill this gap, drawing on social comparison theory, we conduct an experiment and a multi-source field study to explore the effect of employees feeling trusted by supervisors on being envied by peers, which in turn influences employees workplace ostracism. Furthermore, we examine the moderating effect of perceived intraorganizational competition on the relationship between feeling trusted on being envied. We find that perceived intraorganizational competition moderates the indirect effect of feeling trusted on workplace ostracism via being envied, such that the indirect effect will be stronger and positive when perceived intraorganizational competition is high and will be weaker when perceived intraorganizational competition is low. Reference | Related Articles | Metrics