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Robust Optimization-based Inventory Level and Allocation Strategy for Sharing Platform under Service Level Constraint Qiu Ruozhen, Ji Yuanyuan, Shao Songshi Management Review    2023, 35 (6): 275-287.   Abstract （161）      PDF （1714KB）（3168）       Knowledge map    Assuming there is a supply chain composed of a single inventory sharing platform and multiple retailers, this paper studies the optimal inventory level and allocation strategies of the inventory sharing platform with and without demand information sharing. A robust optimization model is established, with the retailer's service level constraint taken into consideration and only demand mean and variance information known. Under the condition of information sharing, the inventory sharing platform can accurately obtain the retailers' demand mean and variance. The retailer's service level constraint is transformed into an easy-to-handle chance constraint problem. Under that condition, the optimal inventory level and allocation strategies are deduced, and the changes of the strategies with the changes of the related parameters are analyzed. Under the condition of not sharing demand information, the inventory sharing platform only knows the uncertain set of the retailers' demand mean and variance. In particular, the ellipsoidal uncertain set is used to describe the mean and variance of uncertain demand, the dual theory is used to transform the inventory optimization model and studies are conducted to analyze the impact of information sharing on the optimal inventory level and allocation strategy. The results show that, under different information conditions, the inventory level of the inventory sharing platform increases with the increase of the mean, variance and service level requirements; the information shared by the retailers has a positive impact on the inventory optimization of the inventory sharing platform, namely, the better information sharing among the retailers, the lower inventory level on the inventory sharing platform; when the retailers do not share information, the inventory level of the inventory sharing platform increases with the uncertainty of mean and variance increases, and the uncertainty of mean has a greater impact on the inventory level. Reference | Related Articles | Metrics

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The Cyclical Transition Characteristics of the Bull and Bear States in China's Stock Market: Based on the DMCPSO-HSMM Model Yang Jie, Feng Yun, Yang Hao Management Review    2024, 36 (11): 3-13.   Abstract （291）      PDF （3327KB）（3208）       Knowledge map    This paper studies the periodic transition of the state of China’s stock market and discusses the time-varying distribution characteristics of returns of CSI300 in depth. By introducing the dynamic population reorganization based on the K-means + + clustering algorithm and the chaotic search strategy into the standard particle swarm optimization algorithm, a dynamic multi-population chaotic particle swarm optimization algorithm is proposed, and the initial values of hidden semi-Markov model are further optimized based on this algorithm. The empirical analysis shows that there exist three states in China’s stock market, namely the bear, bull, and volatile markets. A bull market generally follows a bear market, and after a bullish situation, the market has a greater probability of turning to a volatile situation. The volatile state and the bearish state play key roles in the leptokurtic and heavy-tailed characteristics of the stock market, respectively. Based on the decoding results, a mode transformation network is constructed using the coarse-grained method, and key hub modes are identified. Further analysis is conducted on the co-movement of bull and bear states of large-, medium-, and small-cap stocks. There is a significant cyclical polarization between large-cap and medium-or small-cap stocks. Finally, we propose a more accurate out-of-sample forecasting method for the hidden semi-Markov model and prove the practical value of our model via a simple market timing strategy. Reference | Related Articles | Metrics

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Case Study of the M&A between Youku and Tudou——Based on Event Study Methodology and Accounting Index Analysis Yun Xin, Xin Ling, Liu Ying, Qiao Han    2015, 27 (9): 231-240.   Abstract （939）      PDF （1178KB）（5199）       Knowledge map    Video site is one of the fastest growing industries of Internet in recent years. Although the market size of this industry is steadily expanding, the loss situation that video sites have long faced is still a problem to be solved. In order to achieve economy of scale, reduce costs and pressure of competition, mergers and acquisitions (M&A) between video sites frequently occur. Whether the video sites can get rid of the dilemma of long-term loss through M&A has been a hot topic in the academic circle. Taking the case of the merger of Youku and Tudou as an example, this paper focuses on the deep influence of the M&A on the enterprise performance and future development of the online video industry from the perspective of the short and long term based on event study methodology and principal component analysis. The results show that positive value has been made for stock holders in the short term and there is a stable upward trend of enterprise performance in the long run through the M&A between Youku and Tudou. However, due to the fact of high operating costs of video sites, it is the revolutionary profit model of enterprise but not M&A that can fundamentally reverse the overall situation of long-term loss of video sites. Reference | Related Articles | Metrics

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Modular Emergency Supply Chain Coordination Considering Decision-maker Overconfidence under Supply Disruptions Qiu Ying, Huang Yihao, Yao Di, Zhang Weijian, Wang Shouyang Management Review    2025, 37 (8): 248-261.   Abstract （46）      PDF （1820KB）（177）       Knowledge map    Adequate emergency supplies are critical for dealing with unexpected events. For various related types of emergency supplies, the disruption of one type of supply can exacerbate the overall shortage risk. To enhance the resilience of the emergency services supply chain, a modular emergency supplies storage method is designed to address the mismatched demand for the quantity and categories of emergency supplies. Taking into account decision-making biases caused by the incomplete rationality of government decision-maker, an emergency supplies storage model considering decision-maker overconfidence is designed based on quantity-flexible contracts. Two scenarios, with and without decision-maker overconfidence, are analyzed to dissect the coordination mechanisms of the emergency service supply chain under modular emergency supplies storage. Through case simulations, the impacts of modular storage, overconfidence levels, and key contract parameters, such as conventional procurement prices and elasticity coefficients, on optimal decision-making are analyzed. The results show that modular procurement can appropriately reduce inventory redundancy risks, deepen the precision management of emergency supplies inventory, reduce government financial investments and inventory costs, and improve the resilience of the emergency service supply chain and overall profits. When the decision-maker is overconfident, it is easy to induce an emergency shortage risk. By adopting lower conventional procurement prices, the government can stimulate increased procurement and compensate for decision biases, but it can seriously harm supplier interests and long-term coordination of the emergency service supply chain. Leveraging the role of quantity-flexible contracts can effectively adjust the conventional procurement prices of categories prone to supply disruptions in a targeted and dynamic manner to achieve coordination within the emergency service supply chain. Reference | Related Articles | Metrics

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Quick Response and Behavioral Research in Supply Chains: Review and Outlook Wang Hui, Yi Siyuan, Yang Haili Management Review    2023, 35 (4): 303-310.   Abstract （175）      PDF （1190KB）（471）       Knowledge map    The purpose of quick response is to reduce the uncertainty of supply and demand matching. In recent years, this strategy has been successfully used by clothing retail giant Zara and become a research hotspot in supply chain management. At the same time, behavioral studies in the fields of finance and marketing have also achieved great success, so scholars have begun to explore the role and impact of behavior in quick response strategies. This paper summarizes the research framework, methods and content of the research, focusing on the analysis and discussion from the perspective of retailers and consumers. Finally, a research direction in this field is envisaged in the hope that future researches on quick response can gain some insights from this paper. Reference | Related Articles | Metrics

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Forecasting the Volatility of Chinese Crude Oil Market Based on Geopolitical Risk Yang Kun, Wei Yu, Li Shouwei, Liu Liang Management Review    2023, 35 (1): 16-31.   Abstract （248）      PDF （1473KB）（1120）       Knowledge map    Frequent geopolitical events in recent years are often regarded as a main cause of the intense fluctuations in crude oil market. Therefore, this paper first uses the GARCH-MIDAS-GPR-type models which incorporate geopolitical risk (GPR) indexes to analyze the impacts of the geopolitical risks of different countries, categories and severity on Chinese oil market volatility and the forecasting accuracy of the models. Then, the robustness of conclusions is further discussed from six perspectives: volatility forecasting with different lengths, volatility forecasting before and after the launch of Chinese crude oil futures, alternative basic model, direction-of-change of crude oil volatility forecasts, crude oil risk forecasting and portfolio management. Furthermore, three macroeconomic uncertainties and six economic policy uncertainties are introduced to compare how helpful different uncertainties are for prediction. The empirical results show that, first, the country-specific, overall and serious GPR indexes have significantly positive effects on the long-run volatility of Chinese crude oil market. Second, geopolitical risk indicators contribute to improving the accuracy of Chinese oil volatility forecasts to varying degrees, and the three GPR indexes which reflect the overall geopolitical risk of the world perform better than other GPR indexes. Finally, compared with the commonly used macroeconomic uncertainties and economic policy uncertainties, geopolitical risk can provide most useful information for forecasting crude oil volatility. All the above-mentioned conclusions are robust in statistical accuracy and applications. Reference | Related Articles | Metrics

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Institutional Foundations and the Spark of Innovation: A Commentary on the 2025 Nobel Prize in Economics Liu Meng, Liu Xielin Management Review    2025, 37 (10): 3-9.   Abstract （86）      PDF （1163KB）（78）       Knowledge map    This paper provides a systematic review of the foundational contributions made by Joel Mokyr, Philippe Aghion, and Peter Howitt, the 2025 Nobel laureates in Economics, to the understanding of “innovation-driven economic growth”. The three scholars jointly constructed a systematic framework for understanding how innovation drives economic growth from different dimensions: Mokyr, adopting a historical perspective, profoundly revealed the importance of the institutional environments and cultural beliefs that sustain innovation, emphasizing the foundational role of an open knowledge ecology and a culture of growth in nurturing sustained innovative dynamism; meanwhile, Aghion and Howitt, building on the Schumpeterian growth model, transformed the insight of “creative destruction” into verifiable micro-mechanisms, articulating the inverted-U relationship between competition and innovation and the “escape-competition effect”, which means firms engage in “quality‐ladder” type innovations in pursuit of monopoly rents, thereby constructing a dynamic balance between creation and destruction. Their research inherits and extends the theoretical traditions of Solow, Romer, Schumpeter, and the institutional school, collectively demonstrating that sustained economic growth depends on an ecosystem that fosters innovation, tolerates failure, and ensures the free flow of knowledge. The institutional implications for China’s new era of innovation-driven high-quality economic development are as follows: To achieve a strategic shift from the “catch-up paradigm” to the “frontier paradigm”, it is necessary to move beyond simply increasing research and development investments. The focus must be on fostering a culture that encourages exploration, establishing a fair and competitive market mechanism, and implementing tailored industrial policies that align with different stages of development. These efforts will lay a solid institutional and cultural foundation for leading innovation. Reference | Related Articles | Metrics

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Like-minded or at Odds: Social Responsibility Consistency and Corporate M&A Performance Shi Jinyan, Deng Mengzhu Management Review    2025, 37 (10): 10-23.   Abstract （57）      PDF （1652KB）（74）       Knowledge map    Creating synergistic value is a determinant of M&A performance, and corporate social responsibility (CSR), as an informal system, is a useful complement to the formal system of market economy. In the M&A process, the CSR coordination between the M&A initiator and the M&A target is a key driver for generating synergies and has a significant impact on M&A performance. Based on the perspective of CSR alignment, this paper uses a combination of multiple regression and response surface analysis to fully utilize binary information to comprehensively consider the effects of different matching combinations of CSR between both M&A parties on M&A performance. It is found that the higher the level of CSR consistency between the two parties, the better the M&A performance, and the M&A performance of the “high-high” CSR consistency combination is significantly better than that of the “low-low” consistency combination. This paper further finds that the effect of CSR consistency on M&A performance is stronger when both parties are in the same province, the same industry, or when the top executives of both parties have a graduate degree. The results reveal the underlying mechanism of how CSR alignment creates synergistic value and affects M&A performance, deepen the matching-based antecedents of M&A synergy, and provide theoretical and empirical evidence for the selection of M&A targets and the implementation of CSR strategies. Reference | Related Articles | Metrics

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The Impact of Artificial Intelligence Use on Employee Work Performance: Based on the Functional and Relational Perspectives Wei Wei, Yang Lele Management Review    2025, 37 (10): 162-173.   Abstract （53）      PDF （1381KB）（59）       Knowledge map    With the widespread use of AI in the workplace, AI has gradually become a collaborator in employees’ work and has a profound impact on employees’ behavioral performance. The impact of AI use on employees’ work performance still needs to be explored in depth. Based on social cognitive theory, this paper explores the mechanism of how AI use influences employee work performance from the functional perspective and the relationship perspective respectively. An independent research is conducted using scenario experiment method and questionnaire method. The results of scenario experiments show that AI use has a positive impact on employee work performance. The questionnaire results show that AI use has a positive impact on employee work performance through width self-efficacy, and AI use will also have a positive impact on employee work performance through process participation. Width self-efficacy and process participation play a mediating role in the impact of AI use on employee work performance. The indirect effect of AI use on employee performance through breadth self-efficacy and process participation is stronger when AI training is stronger.The research results further expand the research on the impact of AI use on employee performance, providing practical implications for employee performance management in the intelligent workplace. Reference | Related Articles | Metrics

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Does Climate Change Affect Bank Active Risk-taking? —Theoretical Analysis and Empirical Examinations Fang Tong, Song Xiaoni Management Review    2025, 37 (10): 24-35.   Abstract （49）      PDF （2337KB）（56）       Knowledge map    In the background of global warming and low-carbon-economy transition, the banking system is faced with rigorous challenges, and evaluating the impact of climate change on the banking system is closely related to financial stability, and the impact on the bank active risk-taking behavior is one of important perspectives. This paper uses the temperature anomaly as a proxy of climate change, and conducts an empirical analysis using a micro panel dataset with 74 listed banks from 2003 to 2022. The results indicate that, increases in temperature anomalies significantly reduce bank active risk-taking; Banks with higher asset adequacy ratio have higher tolerance for climate shocks, but the size of banks does not play a significant moderating role. This paper also discusses the non-performing loan ratio and the balance-sheet capacity channels for the impact of climate change on bank risk-taking. For the non-performing loan ratio channel, increases in temperature anomalies raise the non-performing loan ratios and result in the “credit squeeze” behavior, and thus decrease active risk-taking. For the balance-sheet capacity channel, increases in temperature anomalies harm the balance-sheet capacity of banks by lowering prices of risky assets, and thus restrain active risk-taking. This paper confirms the effects of climate change on bank risk-taking and the underlying mechanism, and provides policy supports for regulators to maintain financial stability and to increase the ability of banks to serve the real economy in the era of climate change. Reference | Related Articles | Metrics

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Strategy Selection of Manufacturer Supply Chain Member under Asymmetric Information: Channel Encroachment and Information Leakage Li Qiuxiang, Ji Huimin, Huang Yimin, Qi Ershi Management Review    2023, 35 (12): 169-181.   Abstract （122）      PDF （1789KB）（232）       Knowledge map    The study considers a three-level supply chain consisting of a manufacturer, a large and a small retailer, and a customer, where the manufacturer infers the market demand state from the large retailer's orders and decides whether to invade channel and leak information, and constructs four game models between the manufacturer and the retailer to investigate the manufacturer's optimal strategy choice and the impact on the profit of the supply chain members. It is found that whether a manufacturer invades or not is related to the size of sales cost and the state of product market demand; whether a manufacturer leaks information is related to whether it invades through direct sales channels and the high prior market probability; the average value of large retailer orders affects the manufacturer's decision to leak information; and a manufacturer's information leak is not always beneficial to the small retailer. Reference | Related Articles | Metrics

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Research on the Impact of Production Network Development on the Status of Global Value Chains—Measurement and Analysis Based on the Equipment Manufacturing Industry Liang Jingwei, Cheng Yuyuan, Wen Shuhui Management Review    2025, 37 (10): 36-49.   Abstract （24）      PDF （1255KB）（47）       Knowledge map    The continuous refinement of production segmentation has transformed global trade patterns, offering new opportunities for developing economies to integrate into global production networks and elevate their positions in the value chain. This study applies social network analysis to explore the effects of production network development on value chain positioning and the underlying mechanisms, using node centrality metrics for the equipment manufacturing industry and the OECD’s world input-output table. The findings reveal that greater embeddedness of the equipment manufacturing industry in export networks promotes upward mobility in the value chain, while import network involvement has the opposite effect. However, the positive influence of export networks outweighs the negative impact of import networks, resulting in a net positive effect of production network centrality. The impact of production network integration on value chain status varies across industries and time periods. Mechanism tests highlight the critical roles of government regulation and R&D innovation in enabling the equipment manufacturing industry to enhance its value chain status. Furthermore, the influence of production networks on value chain positioning is non-linear, shaped by factors such as the interaction between depth and diversity of embedding, import and export networks, the Matthew effect, and crowding-out effects. This analysis underscores the complexity of production network dynamics and their transformative potential for value chain advancement. Reference | Related Articles | Metrics

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Research on the Mechanism of How a Firm’s Decline Influences Its Innovation Activities: The Dual-path Moderating Roles of Slack Resources Huang Xunjiang Management Review    2025, 37 (10): 63-75.   Abstract （36）      PDF （2388KB）（46）       Knowledge map    Due to multiple factors such as the COVID-19 pandemic, weakened expectations, and geopolitical conflicts, an increasing number of firms are experiencing organizational decline. Innovation is not only a key driver of the upgrading and high-quality development of Chinese manufacturing firms, but also an important means of reversing declining performance. However, in the face of decline, firms exhibit considerable heterogeneity in their innovation activities. This study utilizes panel data from Chinese listed manufacturing firms from 2013 to 2020 and employs hierarchical regression analysis and Bootstrap methods to examine the mechanisms of how organizational decline influences innovation activities, as well as the moderating role of slack resources. The results indicate that organizational decline does not directly promote innovation activities; rather, it influences them by altering firms’ risk preferences. Risk-taking fully mediates the effect of organizational decline on innovation activities, and this mediating effect is contingent upon the firm’s slack resources. Specifically, slack resources play a dual-path moderating role in the mediating effect of risk-taking: on the one hand, they weaken the positive impact of organizational decline on risk-taking, while on the other hand, they enhance the positive effect of risk-taking on innovation activities. These findings provide practical insights for the innovation recovery of declining firms facing the dual challenges of resource reduction and eroding organizational legitimacy. Reference | Related Articles | Metrics

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The Influence of Inclusive Leadership on Employees' Proactive Behavior: The Mediating Effects of Organizational-based Self-esteem and Error Management Climate Kong Liang, Li Xiyuan, Zhang Fawang    2020, 32 (2): 232-243.   Abstract （545）      PDF （1207KB）（1611）       Knowledge map    In the new normal economic background, an employer expects its employees not only to meet basic job requirements, but also to break through routine work requirements by showing initiative and thinking proactively to help their company respond effectively to environmental challenges. Globalization has brought about an increase in cross-regional population flows. The new generation of employees has gradually become the main force in the workplace, and staff in the workplace is becoming increasingly diversified. In view of the diversification of employees, a challenge that management team has to face is to find out how to carry out diversified management and give full play to the diversification of the employees' work initiative. This issue has also attracted the attention of academia. Inclusive leadership can inspire the initiative of diversified employees because of its openness, availability, and accessibility. Based on the theory of self-determination, this paper constructs a multiple mediator model with organizational self-esteem and error management climate to explore the influencing mechanism of inclusive leadership on employees' proactive behavior in organizations. Data are collected through paired questionnaire survey of 67 team leaders and 304 employees. The results show that inclusive leadership has a positive effect on employees' proactive behavior. HLM results reveal that organizational-based self-esteem and error management climate play a full mediating role between the two in the individual and the team level. The conclusion of the research reveals the influencing path of inclusive leadership on employees' proactive behavior. This not only confirms the inclusive leadership has the characteristics of fault tolerance, but also enriches the research of the influence factor of error management climate. At the same time, this research also confirms the positive effect of the error management climate on the employee's proactive behavior, and provides a theoretical reference and management inspiration for the cultivation of the leadership's inclusiveness and the construction of organizational error management climate. Reference | Related Articles | Metrics

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Digital Business Model Design:Multiple Case Studies of Enterprise's Digital Transformation and Business Model Innovation Qian Yu, Sun Xinbo Management Review    2021, 33 (11): 67-83.   Abstract （1060）      PDF （2110KB）（1055）       Knowledge map    Under the wave of digital economy, in the face of increasing integration between cross-border disruptors and technologies, traditional enterprises have to implement digital transformation. Although digital technology provides opportunities for enterprises to develop and adjust business models to achieve digital transformation, relevant researches focus only on the nature of digital transformation, without in-depth attention to changes in the business model architecture system in the digital context. The study uses multiple case studies to analyze 5 business models related to digitization in manufacturing companies, extracting 4 different types of digital business models, and then deconstruct digital business models into digital value proposition, digital value creation and digital value acquisition. After that, the design principles of digital business models are explained in detail. Finally, the dual attributes of business models are used to identify the innovative sources of digital business models. Reference | Related Articles | Metrics

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An Analytical Framework of Derivatives Sniper Attack Risk Based on the Case Study of Tsingshan Group’s Forced Liquidation Incident in LME Nickel Xu Yang, Bu Hui Management Review    2024, 36 (2): 257-272.   Abstract （377）      PDF （3628KB）（663）       Knowledge map    The nickel futures prices on the London Metal Exchange (LME) experienced a sharp surge during the two trading days from March 7th to 8th, 2022. As a result, Tsingshan Holdings Group, a Chinese company heavily involved in nickel hedging, suffered a significant loss, which marks another risk event where a domestic enterprise participating in overseas derivative trading was targeted by international capital. This paper provides a detailed case analysis of the sniper activity among “LME nickel futures incidents”, and proposes an analytical framework for analyzing sniper events and sniper risk in the futures market from four dimensions: objective conditions, market environment, sniper strategies, and sniper motivation behind. The study reveals that the weak physical delivery capacity caused by cross-hedging became an objective condition for Tsingshan Group to be targeted, and the market environment of low-level nickel inventories triggered by geopolitical risks further limited Tsingshan Group's inventory control and delivery capacity. The design of LME contracts exposes trading positions and motivations, while the LME trading system facilitates short-term price manipulation and other sniper behaviors, allowing the inference of the using contract, timing, and price manipulation ways employed in this sniper attack. Analysis of large position reports reveals that the essence of this sniper attack may be a battle for nickel resources. Finally, this study utilizes event analysis to confirm that the sharp increase in nickel futures prices on March 7th, 2022, was driven by trading factors rather than fundamental factors. The analytical framework proposed in this research, which combines case analysis, data analysis, and empirical analysis, is of significant value in identifying sniper risks, recognizing market manipulation, and better evaluating related risks for early warning and prevention. Reference | Related Articles | Metrics

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Evolution Characteristics of Association and Risk-taking Level of Listed Companies Based on Multi-layer Network Model Li Mingxin, Li Xingyi, Li Zhongfei Management Review    2025, 37 (1): 243-256.   Abstract （160）      PDF （1230KB）（297）       Knowledge map    Enterprises are one of the subjects of real economy and financial market, and the complex relationship between enterprises plays an important role in overall stable development of the economy. This paper constructs a multi-layer network of listed companies, including shareholder association and executive association, based on the complex network theory, and takes all A-share listed companies from 2010 to 2019 as samples to empirically study the structural evolution characteristics of listed companies under multiple association and their impacts on the risk-taking level. The results show that: 1) in terms of restraining risk contagion and improving the risk-taking level, the executive network of listed companies plays a great role through information transmission, while the shareholder network plays a small role through related transactions; 2) from the perspective of inter-layer, the structural stability of the executive network is relatively high, while the structural stability of the shareholder network is relatively low, the similarity between the two networks in the same year is low, and the structural difference of the networks effectively inhibits inter-layer spread and contagion of risks. Reference | Related Articles | Metrics

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Does Strategic Differentiation Facilitate Green Innovation of Enterprises? Zhang Anjun, Cao Guanghui Management Review    2025, 37 (10): 100-114.   Abstract （24）      PDF （1295KB）（40）       Knowledge map    Green innovation is an important driving force for the high-quality transformation and development of the economy. But can corporate strategic differences promote corporate green innovation? Using sample data from A-share listed companies in Shanghai and Shenzhen from 2010 to 2023, this paper empirically examines the impact of corporate strategic differences on corporate green innovation and its mechanism, the results show that：(1) Corporate strategic differentiation has a significant negative impact on green innovation, and the greater the strategic differentiation, the lower the green innovation；(2) Intermediary mechanism test finds that the higher the strategic differentiation, the higher the first agency cost and external financing constraints. At the same time, it will lead to an increase in the risk of debt default, thereby suppressing the green innovation capability of enterprises；(3) Heterogeneity tests show that, the negative impact of strategic differentiation on green innovation mainly exists in non-state-owned enterprises, low growth enterprises, strategic conservative enterprises, and non high pollution industries. The conclusions of the above research enrich the literature on the driving factors of corporate green innovation and the economic consequences of strategic differences, and provide important insights for local governments in implementing targeted green innovation incentive and guidance policies, and for enterprises to seize market opportunities and enhance their green innovation capabilities based on their own characteristics and strategic positioning. Reference | Related Articles | Metrics

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The Effect of Charismatic Leadership on Followership: A Moderated Mediation Model Jia Jianfeng, Niu Xueyan, Zhao Ruonan, Li Zhigang Management Review    2021, 33 (6): 181-191.   Abstract （543）      PDF （1244KB）（890）       Knowledge map    With the flat development of organizations and the embodiment of the value of human capital, employees’ followership has increasingly become a key to enhancing enterprise competitiveness and maximizing corporate benefits. As an influential factor, charismatic leadership style plays an important role in inspiring followership. Based on the conservation of resources theory, this research collects a sample of 223 employees’ data by questionnaire at three time points. Hierarchical regression and bootstrap are adopted to reveal the relationship between charismatic leadership and followership, the mediating effect of psychological availability and the moderating effect of perceived human resource management strength, thus building a moderated mediation model. The research shows: Firstly, charismatic leadership has a positive influence on followership. Secondly, psychological availability partially mediates the relationship between charismatic leadership and followership. Thirdly, perceived human resource management strength plays a positive moderating role between charismatic leadership and psychological availability. Fourthly, perceived human resource management strength also moderates the mediating role of psychological availability. The research results not only confirm the mechanism of charismatic leadership on followership, uncover the black box of influencing process and discover the boundary conditions, but also enrich the utilization of conservation of resources theory. At the same time, this research provides practical enlightenment for managers to develop charismatic leadership style in organizational situations to enhance employees’ followership. Reference | Related Articles | Metrics

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Withdrawal or Challenge: The Curse and Sharpening Effects of Workplace Frustration Zhu Mengting, Zheng Xingshan Management Review    2025, 37 (10): 126-138.   Abstract （31）      PDF （1435KB）（38）       Knowledge map    Frustration in the workplace is a common organizational phenomenon, but people react to it in very different ways, with some people retreating from difficulties while others facing them head on. Previous studies generally suggest that workplace frustration leads to employees perceiving threat, which results in negative behaviors such as avoidance and withdrawal. Conversely, some studies suggest that workplace frustration can stimulate employees to challenge their potential, resulting in positive behaviors such as taking charge. To reconcile these contradictions, this paper, based on trait activation theory, follows the logical path of ‘situation×trait → appraisal → behavior’ to explore why employees react differently when encountering frustration. This paper employs the situational experiment and the paired questionnaire survey of multi-source and multi-wave points. The research reveals that: (1) The interaction between workplace frustration and external locus of control positively influences withdrawal behavior through hindrance appraisal; (2) The interaction between workplace frustration and internal locus of control positively influences taking charge through challenge appraisal; (3) Positive supervisor developmental feedback weakens the positive moderating effect of workplace frustration on employees with an external locus of control; (4) Positive supervisor developmental feedback enhances the positive moderating effect of workplace frustration on employees with an internal locus of control. This study explains the internal mechanism and intervention conditions of the frustration curse and frustration sharpening effect, and shows that the locus of control traits form different cognitive appraisals when processing cues for work frustration, thus explaining the actual phenomenon that employees in the workplace face frustration to form completely different behaviors. It also provides a theoretical explanation and practical insights for the organization to intervene in the impact of work frustration on employee behavior. Reference | Related Articles | Metrics