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    ChatGPT+Finance: Eight Noteworthy Research Directions and Issues
    Wang Shouyang, Li Mingchen, Yang Kun, Lin Wencan, Jiang Shangrong, Wei Yunjie
    Management Review    2023, 35 (4): 3-11.  
    Abstract1111)      PDF (1225KB)(1147)      
    The emergence of ChatGPT marks the beginning of a new revolution in artificial intelligence. The innovative generative AI technology represented by ChatGPT will significantly impact the research paradigm of economics and the systemic ecology of the financial industry. This paper outlines the developmental trajectory of ChatGPT, analyzes its applications and future prospects in the financial field, and discusses the potential impact and regulatory risks. Undoubtedly, ChatGPT will bring many significant challenges to the field of finance. To promote high-quality development in China’s financial industry and related researches, this paper proposes eight noteworthy research directions and issues for the academic community.
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    The Connotation and Relationship between Organizational Improvisation and Bricolage: An Integrative Literature Review
    Liu Hailong, Xu Wen
    Management Review    2022, 34 (7): 115-128.  
    Abstract754)      PDF (1386KB)(413)      
    Using currently available resources to execute a plan in real time, also known as improvisation, is an efficient way for entrepreneurship to deal with environmental uncertainty and resource scarcity. Organizational improvisation is often accompanied by bricolage, and the process of bricolage can easily lead to organizational improvisation. Although improvisation and bricolage research has gained momentum in the past decade, the literature is diverse and fragmented especially in terms of their connotation and relationship, thus hindering the development of improvisation and bricolage as a promising research area. Based on the research progress and development trend, this paper summarizes the definition elements of improvisation and bricolage, and presents an integrative definition of them. This paper also finds the symbiotic relationship between improvisation and bricolage, with overlapping connotations and multiple interactive relations, and they cause each other and change with each other in the process of enterprise development. Enterprises can take improvisation and bricolage as an important way to build core competitiveness in the rapidly changing environment of risks and uncertainty.
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    Research on the Influence of Personalized Intelligent Recommendation on Consumers’ Online Impulse Buying Intention
    Fan Wenfang, Wang Qian
    Management Review    2022, 34 (12): 146-156,194.  
    Abstract624)      PDF (1390KB)(695)      
    With the rapid development of mobile internet era and the continuous application of high-tech such as artificial intelligence, personalized intelligent recommendation has become an important marketing method for e-commerce platform enterprises to meet consumers’ diversified preferences. Practice shows that personalized recommendation has an important impact on consumers’ buying behavior, and it helps to improve the performance of e-commerce platforms. Based on the flow experience theory and the perceived value theory, this paper discusses the influence of personalized intelligent recommendation on consumers’ online impulse purchase intention, and this mechanism of flow experience, perceived practical value and quality of online reviews. Through the investigation of 548 e-commerce platform consumers, the empirical study finds that personalized intelligent recommendation and its related dimensions (information presentation, system interaction and community influence) positively affect consumers’ online impulse purchase intention. Flow experience and perceived practical value mediate the positive relationship between personalized intelligent recommendation and consumers’ online impulse purchase intention. The quality of online reviews plays a moderating role in the impact of personalized intelligent recommendation on consumers’ online impulse purchase intention. The higher the quality of online reviews, the stronger the positive impact of personalized intelligent recommendation on consumers’ impulse purchase intention.
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    The Influence Mechanism and Data Test of Enterprise ESG Performance on Earnings Sustainability
    Xi Longsheng, Zhao Hui
    Management Review    2022, 34 (9): 313-326.  
    Abstract600)      PDF (1343KB)(545)      
    ESG is highly consistent with China’s new development concept, but whether ESG performance has a positive impact on enterprises’ sustainable development, especially earnings persistence, has not reached a definite conclusion.By analyzing the mediating effect of financing constraint, enterprise risk and green innovation, this paper studies the mechanism of how ESG performance influences earnings sustainability, and empirically examines the positive impact of ESG performance on earnings sustainability by taking China’s A-share listed companies from 2013 to 2021 as research samples.The research finds that the better the ESG performance is, the stronger the earnings sustainability is. The mechanism analysis shows that good ESG performance can help enterprises achieve earnings sustainability by alleviating financing constraints, reducing enterprise risks and promoting green innovation. The heterogeneity analysis shows that the promotion effect of ESG performance on earnings persistence is more significant in enterprises in non-polluting industries, state-owned enterprises and enterprises in highly market-oriented regions.This paper expands the research on the economic consequences of ESG performance, which has significant enlightenment for enterprises and investors to attach importance to ESG performance and government departments to improve the ESG information disclosure system.
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    Data Factor Driven High-quality Digital Transformation of Enterprise——A Longitudinal Case Study of Sogal's Intelligent Manufacturing
    Xie Kang, Hu Yangsong, Liu Yi, Luo Tingyu
    Management Review    2023, 35 (2): 328-339.  
    Abstract467)      PDF (1674KB)(527)      
    High-quality digital transformation is a key for an enterprise to seek its high-quality economic development, and this is because digital transformation enables data factors to reallocate corporate resources. This paper conducts a longitudinal case study based on Sogal 's transition from mass customization to intelligent manufacturing between 2008 and 2022, and brings about two theoretical contributions. First, it proposes a routine model of enterprise's high-quality digital transformation by defining the concept of high-quality digital transformation from a data-driven perspective, and extracting three realization paths of it:factor reconstruction, factor creation and factor generativity. Secondly, it contributes to the literature of adaptive transformation by revealing that the high-quality digital transformation is exploiting data factors to promote reallocation efficiency of firms' internal and external resources, and clarifying how such reallocation is adaptive to firm's different development stages.
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    Mechanism of How Brand Green Image Positioning Influences Consumers’ Brand Attitude—— The Mediating Role of Competence Perception and Warmth Perception
    Gong Siyu, Sheng Guanghua, Yue Beibei
    Management Review    2022, 34 (8): 157-167.  
    Abstract407)      PDF (1295KB)(558)      
    It has become an important prerequisite for enterprise to gain green market share and win sustainable competitive advantage by implementing environmentally-friendly development strategies at the brand level, especially through green image positioning strategy to convey brand’s unique environmental value and green proposition to consumers. However, existing researches lack discussions on consumers’ psychological decision-making mechanism under brand green image positioning strategies. This study discusses the mechanism of how brand green image positioning influences consumer brand attitudes through two experiments. Experiment results show that green functional attribute positioning is more likely to stimulate consumer’s brand competence perception, while green emotional value positioning is more likely to stimulate consumer’ s brand warmth perception. Competence perception and warmth perception play a dual mediating role in the influence of brand green image positioning on green brand attachment and brand attitude, and the dual mediating effect is further moderated by consumer’s brand self-congruity.
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    Does Population Aging Bring Opportunities or Resistance to the Transformation and Upgrading of Industrial Structure? An Analysis Based on the Two-dimensional Mechanism of Supply and Demand
    Wang Xinliang, Du Zhuangzhuang, Liu Fei
    Management Review    2022, 34 (10): 79-91.  
    Abstract403)      PDF (1343KB)(172)      
    Given the national goal of high-quality economic development and the problem of population aging, this paper analyzes the theoretical mechanism of how population aging influences the transformation and upgrading of industrial structure through labor supply and consumption demand from three dimensions: industrial upgrading, coordination and transformation, and builds a dynamic panel mode based on provincial panel data from 1997 to 2018. The following conclusions are drawn through SYS-GMM estimation method: (1) Population aging brings both opportunities and resistance to the transformation and upgrading of industrial structure as it can promote industrial upgrading and force industrial transformation on the one hand but hinders industrial coordination on the other hand. (2) Seen from the labor supply path, population aging will bring about “opportunities” for the transformation and upgrading of the industrial structure by forcing the improvement of the quality of labor supply, but the resultant reduction of labor supply will retard industrial coordination to the detriment of industrial structure transformation and upgrading. (3) Seen from the path of consumption demand, change of total consumption demand will amplify the retardant effect of population aging on industrial coordination, but enhances its role in promoting industrial upgrading and transformation. At the same time, population aging can turn “resistance” into “opportunities” and fully promote the transformation and upgrading of industrial structure so long as consumption demands are driven to a high level.
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    The Impact of Gender Traits of Cross-gender Stereotype Endorsement and Product Signaling on Advertising Effectiveness: Based on the Context of Male Star Endorsing Female Products
    Jiang Hongyan, Xu Mengmeng, Chen Hong, Liu Bangshun
    Management Review    2022, 34 (7): 175-188.  
    Abstract383)      PDF (1368KB)(455)      
    The phenomenon of male stars endorsing female products (cross-gender stereotype endorsement) appears frequently in marketing. However, there are few studies focusing on star endorsement with different gender traits (masculine trait vs. feminine trait). Hereby the present research aims to explore how the interactive effect between spokesperson's gender traits and product signaling influences advertising effectiveness in the context of cross-gender stereotype endorsement. The analysis results indicate that, when identity signaling (vs. function signaling) is activated, cross-gender stereotype endorsement with masculine (vs. feminine) trait has a greater advertising effectiveness and such effect is driven by perceptions of uniqueness and quality. Furthermore, this study investigates the moderating role of incongruity level between product and endorsement in the above effects based on the Schema Incongruity Theory. This research has important theoretical contributions by expanding and enriching empirical studies of Match-up Hypothesis and Schema Incongruity Theory in the field of cross-gender stereotype endorsement, and practical implications by providing more detailed strategies of spokesperson selection and product advertising for managers.
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    The Influence of Leader Humor on Employees’ Organizational Citizenship Behavior: A Mediated Moderating Model
    Hu Lili, Ye Long, Guo Ming, Liu Yunshuo
    Management Review    2022, 34 (8): 205-216.  
    Abstract377)      PDF (1387KB)(387)      
    Based on the social cognition theory, this study investigates the relationship between two important leader humor styles (affiliative humor and aggressive humor) and organizational citizenship behavior by focusing on the mediating role of psychological empowerment. Data are collected from 238 knowledge workers and 61 department leaders within several companies. Results show that: (1) Leader affiliative humor is positively related to employees’ psychological empowerment and organizational citizenship behavior, leader aggressive humor is negatively related to employees’ psychological empowerment and organizational citizenship behavior; (2) Employees’ psychological empowerment partially mediates the relationship between leader affiliative humor / leader aggressive humor and organizational citizenship behavior; (3) The sense of coping humor of employees moderates the mediating effect of leader humor on organizational citizenship behavior through employee psychological empowerment. The above research results have potential guiding significance and application value for leader management and enterprise human resource management practice.
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    The Double-edged Sword Effect in Organizational Behavior Research: Typical Patterns and Strategy Suggestions
    Zhang Jiaojiao, Luo Wenhao
    Management Review    2022, 34 (9): 195-207.  
    Abstract349)      PDF (1371KB)(424)      
    Mainstream organizational scholars tend to look at either the positive or negative influence of independent variables on dependent variables. However, this simple approach contrasts with the complicated phenomena in management practices. It is also less conducive to the meaningful integration of different studies. As a result, research on the double-edged sword effect has emerged in recent years. Though there are increasing studies examining the double-edged sword effect, it is worth noting that the interpretation of the effect remains unclear, the underlying mechanism is ambiguous, and the corresponding research pattern is often inappropriately used. By systematically analyzing 137 organizational behavior studies demonstrating the double-edged sword effect in both Chinese and English, this study clarifies the nature of the double-edged sword effect, identifies two major motives for conducting research on the topic, and classifies the existing research pattern into three main types (direct effect, indirect effect and moderating effect) and six sub-types. This study also offers five explanations of the potential theoretical basis for research on the double-edged sword effect. Finally, we offer practical suggestions for future researches. The present study is expected to demonstrate the potential contribution of researches on the double-edged sword effect, and to inspire more valuable future studies.
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    Effect of Real Estate Enterprises Status on Their Cross-regional Investment Behavior
    Liu Guangping, Sun Wei
    Management Review    2023, 35 (11): 45-61.  
    Abstract335)      PDF (1349KB)(139)      
    This paper introduces the ‘enterprise status’ concept of social economics into the real estate market to measure the individual differences among real estate enterprises, and studies the impact of enterprises' status on the extent and pattern of their cross-regional investment. The results show that the status of real estate enterprises significantly affects their cross-regional investment behavior. The higher status a real estate enterprise has, to a larger extent it would make cross-regional investments and the more inclined it is to join hands with others to make such investments. In addition, the increase of economic policy uncertainty will strengthen the positive relationship between the status of real estate enterprises and the degree of their cross-regional investment, while weakening the positive relationship between their status and their cross-regional co-investment, as well as the negative relationship between their status and their independent cross-regional investment. The effect of real estate enterprises' status on their cross-regional investment behavior is effective only under the following conditions:the real estate enterprises are private-owned and the investment market operates under a sound regulatory system. If both the nature of the real estate enterprises ownership and the regulatory system of investment destination are considered, it can be found that when only private real estate enterprises choose to carry out cross-regional investment in the region with a sound regulatory system, the high status of enterprises will positively affect the extent of cross-regional investment, and they are more inclined to choose a cross-regional co-investment model. If the real estate enterprises are state-owned or the regulatory system of investment destination is not sound enough, the influence of enterprises' status on the extent and pattern of their cross-regional investment is not significant.
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    The Institutional Logics Perspective in Entrepreneurship Research: Literature Review
    Yang Ling, Wang Xiaoyu, Chen Jin
    Management Review    2022, 34 (7): 95-104.  
    Abstract333)      PDF (1251KB)(425)      
    The institutional logics perspective has become a mainstream organization theory, but its application in entrepreneurship research still remains to be explored. Since entrepreneurship inevitably involves multiple institutional orders (i.e., market, state, family, profession, corporation and religion), institutional logics theory can make its unique contribution to entrepreneurship research. With its focus on change and complexity, the institutional logics perspective is especially relevant in China, which is both a transitional economy and an emerging economy. This paper introduces the institutional logics perspective in entrepreneurship research, explains its future research agenda in multiple entrepreneurship domains, and discusses key problems in engaging with this theoretical perspective in the Chinese context.
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    The Impact of Leader Humor on Team Creativity
    Yang Chen
    Management Review    2022, 34 (7): 268-279.  
    Abstract321)      PDF (1327KB)(360)      
    Leader humor (LH), a new leadership style, is one of the frontier subjects in the field of organization behavior study. Although researches on LH have yielded great insights into the effects of leaders on followers' attitudes and behaviors, the existing knowledge on LH's role in team creativity remains incomplete. Taking as the theoretical basis the theory of the social information process theory, this paper probes the mechanism of how LH influences team creativity. Results from a 2-phase analysis of 62 working teams show that LH is positively related to team creativity, and team playfulness climate mediates the relationship between LH and team creativity. In addition, group traditionality negatively moderated the relationship between LH and team playfulness climate, leader social astuteness positively moderates the relationship between LH and team playfulness climate. Furthermore, the indirect effect of LH on team creativity via team playfulness climate is stronger when leader social astuteness is much higher.
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    Team Experience Diversity and Team Performance——Evidence from the Manufacturing Industry
    Yi Siyuan, Wang Hui, Gong Qiguo, An Jianhua
    Management Review    2022, 34 (7): 236-245.  
    Abstract303)      PDF (1330KB)(176)      
    Changes in production tasks and team structure lead to changes in team experience diversity, which in turn affects team performance. This paper uses the production and performance appraisal data of a manufacturing company in 2019 to empirically study the impact of team experience diversity on team performance, or specifically, to examine the impact of social interaction on team performance based on team experience diversity. At the same time, the difference in the impact of team experience diversity on team performance in different time windows is explored. The main results of the research show that in the short term (7 days), team interpersonal diversity has a significant positive effect on team performance (in terms of compliance, quality and discipline). In the medium term (15 days), the team interpersonal diversity has a significant positive effect on team's productivity. Besides, the positive effect intensifies as the cumulative team experience increases within a 30-day period. This research conclusion can be used for production scheduling analysis to improve team performance.
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    Innovation of Brand Competitiveness Enhancement Model of FMCG Enterprises——A Case Study of Tsingtao Beer from the Perspective of Dynamic Capability
    Zhang Feng, Huang Yi, Yao Ge, Tan Xiongkai
    Management Review    2022, 34 (9): 327-338,352.  
    Abstract302)      PDF (2071KB)(429)      
    Brand competitiveness enhancement mode has been a focus of concern in academia and industry, but so far as fast moving consumer goods (FMCG) brands are concerned, their competitiveness enhancement is full of challenges due to such factors as product homogenization and fierce market competition. Dynamic capability of a FMCG enterprise refers to its ability to fully mobilize and coordinate existing resources in the dynamic changing market environment and take appropriate response strategies in time according to market changes. From the dynamic capability perspective, this study focuses on the improvement of FMCG brand competitiveness based on the practical experience of Tsingtao Brewery with such phased objectives as customer acquisition, customer maintenance and customer loyalty. According to the development history of Tsingtao Beer, this paper makes a vertical analysis on the product structure optimization stage, the channel segmentation expansion stage and the brand viscosity enhancement stage. We also compare and analyze the successful experience of Tsingtao Beer in Shijiazhuang and its failure experience in Chengde, and develop a novel model for improving the competitiveness of FMCG brands. Finally, we comb out a new path mode to improve the brand competitiveness of FMCG enterprises. This model enriches the relevant theoretical literature of brand competitiveness and provides a reference for other FMCG enterprises to improve their brand competitiveness.
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    From Corporate Social Responsibility (CSR) to Corporate Sustainable Business (CSB):Reflection and Future
    Jia Ming, Xiang Yi, Wang Heli, Zhang Zhe
    Management Review    2023, 35 (5): 228-242.  
    Abstract302)      PDF (1862KB)(293)      
    In pursuit of economic benefits, some companies may bring negative effects to society and environment. With this in mind, many companies have integrated corporate social responsibility (CSR) into their growth strategy to guard against the potential negative effects that they may bring. However, the existing theories and practices are all based on the "shareholder upmost" philosophy to construct CSR strategy, thus leading to a series of social responsibility distortions, deviation from the essence of CSR and failure to support the post-epidemic corporate development. Therefore, based on a systematic review of the literature on CSR, this study proposes the key points for future CSR theories and practice and constructs a key path for companies to upgrade from traditional corporate social responsibility to corporate sustainable business based on the Chinese context in order to build a corporate sustainable business model with Chinese characteristics.
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    Research on the 10-year Promotion Effect of New Energy Vehicles in China: A Spatial Effect Perspective
    Liu Yingqi, Song Zeyuan, Gao Hongwei, Feng Ruiyu
    Management Review    2023, 35 (3): 3-16.  
    Abstract301)      PDF (1570KB)(352)      
    In the past 10 years, the new energy vehicle industry has developed rapidly under the policy support of the central government and the joint attention of local governments and enterprises. In order to clearly see the effects of industrial promotion at the national city level over the past 10 years, this paper uses the data of 296 prefecture-level cities across China in 2018, takes a spatial perspective to construct an indicator system for the promotion of the new energy vehicle industry, and uses spatial autoregressive model (SAR) and spatial error model (SEM) to empirically investigate, through two levels (i.e. demonstration and non-demonstration cities) and five typical urban agglomerations, the degree of influence of major factors (e.g. urban government support, urban public transportation and urban scientific research capabilities) on the promotion of new energy vehicles across the country. The study finds that no matter whether in demonstration or non-demonstration cities, the promotion of new energy vehicles is related to the degree of economic development, but the promtion effect is more visible in demonstration cities; in the five major urban agglomerations, the impact of R&D capabilities and the spatial spillover effect are obvious and the effect of other factors varies greatly. On the basis of quantitative research, this paper further explores the possibility to increase the space spillover effect of China’s new energy vehicle market promotion by increasing R&D investment and constructing an industrial system under a competitive landscape, and thereby promoting the development of the new energy vehicle industry. Our research shows that in the future, the promotion of new energy vehicles in China should be based more on the regional perspective to give full play to the spatial spillover effects of cities and ultimately realize the development of the new energy vehicle industry in cities, urban agglomerations and the country. The research conclusions of this paper provide important policy reference for the improvement of the competitiveness of China’s new energy automobile industry and its market promotion.
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    Study on New Energy Vehicle Purchase Intention and Nudge Policy Based on Consumer Values and Bounded Rationality
    Yang Kexin, Zhang Qi, Yu Lean, Pan Xunzhang
    Management Review    2023, 35 (1): 146-158.  
    Abstract288)      PDF (6626KB)(283)      
    As government subsidies phase out, the new energy vehicle sector that still faces severe challenges needs to be supported by low-cost and efficient sustainable incentive policies. Starting with consumer decision-making mechanism, considering consumer values and bounded rationality, the present study analyzes the impact of the fading subsidy policies for new energy vehicle on different consumer groups’ purchase intention by collecting questionnaires and constructing structural equation model, and explores the moderation effect of frame nudge policy on purchase attitude in the absence of subsidy. The results are as follows. (1) Consumers’ values will affect their purchase attitude. Specifically, their environmental values and innovative values have a positive impact and their functional values have a negative impact, with the largest impact from their innovative values and the smallest impact from their environmental values. (2) Herding effect has a negative impact on purchase attitude and appeal of authority has a positive one, but the total effect of both on purchase intention is significantly positive, and authority effect is wider. (3) The phase-out of subsidies plays a mediating role in purchase attitude and intention, and the direct effect on purchase intention is significantly negative. (4) Relative cost frame and positive environmental frame have a moderating effect on purchase attitude and bounded rationality respectively. Based on the above conclusions, the present study suggests that with the decrease of subsidies, the government and enterprises should improve the functional attributes of new energy vehicle, and policies should be designed in such a manner as to bear in mind that nudge policies based on relative cost frame has the best moderating effect, while the effect of nudge policies based on positive environmental frame depends on consumers’ degree of bounded rationality. The results provide powerful decision support and policy tools for designing new energy vehicle promotion policies in the post subsidy era.
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    The Cross-level Impact of Servant Leadership on Thriving at Work——The Role of Relational Energy and Learning Goal Orientation
    Ye Pu, Xu Yan, Li Chaoping
    Management Review    2022, 34 (7): 224-235.  
    Abstract286)      PDF (1328KB)(326)      
    Based on self-determination theory and conservation of resource theory, this paper constructs a multi-level linear model to explore the cross-level impact of servant leadership on thriving at work and the impact mechanism. A questionnaire survey to 61 team samples (61 team leaders and 345 team members) is conducted. The results show that on the team level, servant leadership and relational energy have a significant positive effect on employees' thriving at work; relational energy mediates the relationship between servant leadership and employees' thriving at work; and learning goal orientation positively moderates this relationship. For employees with high learning goal orientation, the positive relationship between relational energy and thriving at work is stronger, and the mediating effect of relational energy is more significant. By testing the moderated mediation model, we discuss the impact of service leadership on thriving at work, and the spiral development mode of them is worth exploring in the future.
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    Can Workplace Gossip Lead to Employee Innovation? The Role of Thriving at Work and Feeling Trusted by Supervisors
    Qu Rujie, Zhu Boqi, Liu Ye
    Management Review    2022, 34 (10): 180-190.  
    Abstract283)      PDF (1338KB)(291)      
    Workplace gossips widely exist in organizations. Unlike the existing researches that focus mainly on negative workplace gossips without regard tos the positive positive role of possitive workplace gossips, this study uses the conservation of resources theory and the broaden-and-build theory of positive emotions to examine the mechanism of how negative and positive workplace gossips influence employees’ innovative behavior as well as the relevant boundary conditions. Through a two-wave research design, we obtain a valid sample of 241 employee-supervisor dyads from a state-owned commercial bank. The results show that: (1) Negative workplace gossips negatively influence employees’ innovative behavior by reducing thriving at work, while positive workplace gossips positively influence employees’ innovative behavior by enhancing thriving at work. (2) Feeling trusted by supervisors moderates the negative effect of negative workplace gossips on thriving at work. When employees feel lower trust from supervisors, the negative effect of negative workplace gossip on thriving at work will be stronger. Feeling trusted by supervisors moderates the positive effect of positive workplace gossip on thriving at work. When employees feel lower trust from supervisors, the positive effect of positive workplace gossip on thriving at work will be stronger. (3) Feeling trusted by supervisors further moderates the indirect effect of negative workplace gossip on employee innovative behavior via thriving at work, when employees feel lower trust from supervisors, the negative effect of negative workplace gossip on employee innovative behavior via thriving at work is relatively strong. Feeling trusted by supervisors further moderates the indirect effect of positive workplace gossip on employee innovative behavior via thriving at work, when employees feel lower trust from supervisors, the positive effect of positive workplace gossip on employee innovative behavior via thriving at work is relatively strong.
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