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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 （163）      PDF （1714KB）（3169）       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 （308）      PDF （3327KB）（3552）       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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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 （259）      PDF （1473KB）（1200）       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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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 （59）      PDF （1820KB）（180）       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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Dynamic Analysis of Financial Innovation, Risks and Supervision Based on Tripartite Evolutionary Game Gong Qingbin, Diao Xundi, Wu Chongfeng Management Review    2025, 37 (7): 3-14.   Abstract （199）      PDF （1620KB）（319）       Knowledge map    Based on the strategic interaction and behavioral assumptions of financial institutions, investors and market regulators, a tripartite evolutionary game model of the financial innovation is constructed. The study establishes a time-varying return matrix for the game by taking account of the correlation between investor participation and market risk levels, as well as their impacts on participant behavior. With the dynamical system method, the equilibria of the model are solved, and the asymptotic stability conditions of equilibria are investigated. The result shows that the mixed strategies are not evolutionary stable strategies (ESS). The evolutionary dynamics are influenced by many factors such as the risk level of financial innovation, the efficiency of supervision, the innovation costs, and investment costs. In order to achieve the low-risk regulatory goals, regulators need to take measures to reduce regulatory costs, improve regulatory efficiency, and increase input costs of high-risk financial products. The numerical simulations further demonstrate the complexity of market dynamics under different parameter conditions, as well as the impact of regulatory policy on market evolution. When there are multiple equilibria, regulators should take several measures simultaneously by changing the initial market conditions and equilibrium stability conditions. This study enriches the theoretical research on financial innovation and regulation, and provides significant implications for formulating and adjusting regulatory strategies. Reference | Related Articles | Metrics

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The Theoretical Logic and Level Measurement of New-quality Productive Forces Development under the Perspective of Artificial Intelligence Chen Xiaohong, Huang Chengdong, Yuan Yige, Tang Xiangbo Management Review    2025, 37 (11): 3-14.   Abstract （104）      PDF （1750KB）（73）       Knowledge map    Grasping the developmental patterns of productivity under the perspective of artificial intelligence holds significant value for propelling the qualitative transformation of productivity. This paper incorporates the transformative characteristics of AI into the theoretical analytical framework and systematically elucidates the conceptual connotations of the new type of productivity. Based on the three-factor theory of productivity, it reveals the theoretical logic through which the productivity system achieves qualitative leaps by renewing the connotations of its elements and optimizing their combinations, under the context of AI altering the modes of social production. On this basis, the paper further summarizes the measurement indicators of the three elements of productive forces from the perspective of AI and proposes a framework for measuring new-quality productive forces. It then uses this framework to assess the current state of new-quality productive forces at the provincial level. From a spatial dimension, the visualization of the characteristics of new-quality productive forces development reveals a polarization phenomenon among provinces and a stepwise development pattern of “coastal—riverine—inland” regions. Meanwhile, the regional imbalanced development of new-quality productive forces overlaps to some extent with that of economic levels, although some provinces at relatively lower economic levels have already shown a trend of using new-quality productive forces to achieve economic catch-up. This paper aims to enrich the theoretical system of new-quality productive forces and provide decision-making support for the practical application of AI in driving qualitative changes in productive forces by measuring the level of new-quality productive forces development. 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 （398）      PDF （3628KB）（706）       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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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 （553）      PDF （1207KB）（1648）       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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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 （99）      PDF （1652KB）（106）       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 Corporate Digital Technology Innovation on the Development of New Quality Productivity in Local Economies Chen Rongda, Zhai Jiajun, Zhang Shuonan, Tao Kerun, Zhang Youbin Management Review    2025, 37 (11): 15-26.   Abstract （67）      PDF （1128KB）（60）       Knowledge map    Against the backdrop of deep integration between the real economy and the digital economy, digital technology innovation serves as a crucial driving force for the development of new quality productive forces. This paper examines the impact of enterprise digital technology innovation on local new quality productive forces and its underlying mechanisms, using a sample of listed companies on the Shanghai and Shenzhen Main Boards from 2015 to 2021. The empirical findings reveal that: (1) Enterprise digital technology innovation significantly promotes the enhancement of local new quality productive forces, a result further validated by robustness tests; (2) This promoting effect is realized through the optimization of human capital structure, improvement of investment efficiency, and advancement of high-quality enterprise development; (3) The promoting effect is inhibited in highly labor-intensive enterprises, amplified in regions with a developed digital economy, yet insignificant in less developed western regions and areas with lower levels of intellectual property protection. This study provides a new perspective for understanding how micro-level enterprise innovation improves local economic endowments and offers empirical support for advancing new quality productive forces. Reference | Related Articles | Metrics

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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.   Abstract （584）      PDF （1674KB）（797）       Knowledge map    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. 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 （109）      PDF （1381KB）（90）       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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Research on the Collaborative Value Creation Mechanism of Consolidated Enterprises from the Perspective of Resource Actions——Exemplified by the Merger and Reorganization of China Minmetals and China Metallurgical Cui Yongmei, Li Rui, Zeng Delin Management Review    2021, 33 (10): 237-248.   Abstract （417）      PDF （1604KB）（349）       Knowledge map    Taking the merger and reorganization of China Minmetals and China Metallurgical as the research object, this paper analyzes and summarizes the formation mechanism and innovation path of collaborative value creation of consolidated enterprises from the perspective of resource actions. After conducting a longitudinal case study of the collaborative value creation process of the merger and reorganization of China Minmetals and China Metallurgical, this paper further discusses how consolidated companies choose resources and action models according to their strategic positioning and organizational resource situation, then analyzes and summarizes the formation mechanism and innovation methods of collaborative value creation of consolidated enterprises under resource bricolage model and resource optimization mode. Results of the analysis show that strategic positioning and organizational resource context mutually affect resource actions in consolidated companies. Resorting mainly to resource bricolage and resource optimization to carry out merger and consolidation, companies respectively focuses on the absorptive integration based on internal development and facilitated integration of internal and external development, the realization mode of collaborative value creation undergoes the transformation from business leveraging to platform leveraging, and finally realizes the evolution from transactional collaborative value creation to integrated collaborative value creation. Reference | Related Articles | Metrics

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How does the Coupling Effect of Digital Transformation and Green Transformation Promote New-quality Productivity?—A Mixed-methods Study Based on the Dynamic Capability Theory Chen Yantai, Hao Yajie, Pan Dapeng Management Review    2025, 37 (11): 27-40.   Abstract （69）      PDF （4257KB）（48）       Knowledge map    Against the backdrop of deep integration between the global digital economy and green economy, the dual transition (synergistic digital and green transformation) has emerged as a core pathway for driving new quality productive forces. This study constructs an evolutionary game model to analyze the preconditions for government, enterprises, and digital service providers during the dual transition, revealing the mechanism through which this synergy promotes new quality productive forces. Key findings indicate that embedded innovation of green and digital technologies, self-reinforcing dynamic feedback of cost-benefit structures, and innovation ecosystems built through multi-agent collaborative networks are crucial for advancing new quality productive forces. Using FENGDENG as a case study, we dissect an enterprise’s evolution from singular green transition to dual transition, demonstrating how its “mutual-construction and co-change” mechanism between green dynamic capabilities and new quality productive forces achieves win-win economic-environmental outcomes. This research provides theoretical guidance and practical references for Chinese enterprises implementing dual transition. Reference | Related Articles | Metrics

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To Disperse or to Concentrate: Customer Concentration and Firm Performance Zhao Shan, Li Guihua Management Review    2023, 35 (2): 294-305.   Abstract （454）      PDF （1279KB）（752）       Knowledge map    Maintaining the relationship with major customers is one of the important sources for firms to obtain competitive advantages and high profits. However, financial dependence and resource allocation for a few major customers may lead to suboptimal results for the overall performance of firms. Based on the data of A-share listed companies in Shanghai and Shenzhen from 2008 to 2017, this paper empirically tests the relationship between customer concentration and firm performance and the potential mechanism of internal and external factors on the relationship. The results show that customer concentration has a negative impact on firm performance; the relationship-specific investment and industry competition degree both aggravate the negative impact of customer concentration on firm performance; by dividing listed companies into state-owned companies and non-state-owned companies according to the ownership, the study further finds that the negative impact of customer concentration on the performance of non-state-owned enterprises is significantly higher than that of state-owned ones. The research results provide theoretical leverage and practical reference for firms to implement customer relation management and resource allocation decisions. 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 （141）      PDF （1163KB）（105）       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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Digital Green Technological Convergence Asset Structure Mismatch and High-quality Development of Enterprises—Moderating Effect of Knowledge Combination Ability Li Weiming, Cao Xia, Zhang Xin Management Review    2025, 37 (11): 54-66.   Abstract （67）      PDF （1169KB）（47）       Knowledge map    The integration of digital technology and green technology can drive enterprises to optimize resource allocation and play an important role in achieving high-quality development. This research uses invention patent information to measure the digital and green technology integration behavior of enterprises, and takes A-share listed companies in emerging industries as samples to study the impact of digital and green technology integration on the high-quality development of enterprises and its mechanism. The study finds that the width and depth of the digital and green technology integration of enterprises have a positive impact and a positive U-shaped impact on the high-quality development of enterprises respectively, and the above conclusions are still valid after the robustness test. The mechanism analysis shows that the width and depth of digital and green technology integration can promote the high-quality development of enterprises by improving the mismatch of asset structure. Knowledge combination ability only positively moderates the relationship between the breadth of integration and the high-quality development of enterprises. The heterogeneity analysis shows that the significance of the impact of the width of digital and green technology integration on the high-quality development of enterprises shows a heterogeneity pattern of “eastern region>central region>western region,” and shows a more significant positive impact in the samples of non-state-owned enterprises, while the depth of digital and green technology integration only shows a significant U-shaped impact in the samples of eastern enterprises and non-state-owned enterprises. The research conclusions of this paper can enrich and expand the relevant theories of digital and green technology convergence, and provide practical support and policy enlightenment for China’s enterprises to promote the convergence of digital and green technology and promote the high-quality development of enterprises. Reference | Related Articles | Metrics

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Research on the Mechanism of How Digital-Green Synergistic Transformation Influences Firm Performance in Manufacturing Sector Zhang Zhiwei, Zhang Ning, Xiao Tusheng Management Review    2025, 37 (11): 67-80.   Abstract （50）      PDF （1184KB）（46）       Knowledge map    The digital-green synergistic transformation (referred to as “dual synergy”) in manufacturing firms is an inevitable requirement for developing new quality productive forces and advancing high-quality development, as well as a critical pathway to enhance corporate competitiveness. Existing studies, both domestic and international, have separately explored the impacts of digital and green transformations on the performance of manufacturing enterprises, yet research on the impacts of dual synergy transformation remains scarce. This paper, based on data from China’s A-share listed manufacturing firms from 2007 to 2022, constructs a dual synergy index for manufacturing firms using the coupling model method and empirically tests the impact of dual synergy on firm performance. The findings reveal a nonlinear U-shaped relationship between dual synergy and firm performance, where positive benefits emerge only after a threshold is crossed. Mechanism analysis indicates that both efficiency and cost channels mediate this relationship: dual synergy first suppresses and then promotes efficiency (U-shaped), while initially increasing and subsequently reducing costs (inverted U-shaped), thereby influencing performance. Environmental regulation and industrial structure rationalization moderate the U-shaped relationship between dual synergy and firm performance, with stronger environmental regulation and higher industrial structure rationalization flattening the curve. Heterogeneity analysis shows that the U-shaped relationship holds for both heavily and non-heavily polluting firms (more pronounced in the latter), as well as for firms in central/eastern regions and high-tech industries, but not for western regions or non-high-tech firms. This study provides empirical evidence for theoretical and practical research on dual synergy and offers strategic insights for manufacturing firms to enhance competitiveness. Reference | Related Articles | Metrics

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Resource Buffer Sizing of Critical Chain Project Based on Time Value Zhang Junguang, Zhou Shang Management Review    2024, 36 (6): 212-218.   Abstract （118）      PDF （4768KB）（250）       Knowledge map    Classic researches on the critical chain project buffer sizing focus on the time buffer but ignore the impact of the resource buffer. In order to absorb the uncertainty of resources over time and determine a reasonable resource buffer size, a resource buffer sizing method is proposed based on time value. Firstly, the concept of resource time value is proposed considering the risk of resource effectiveness decreasing with time, and the changes of resources over time are calculated by combining the risk exposure. Secondly, the time of resource buffers are determined based on the duration and location of activities, and the location of resource buffers are determined based on the demand for resources. The resource buffers are set by reserving some resources before the execution of activities. Finally, Monte Carlo simulation is carried out by using MATLAB to verify the effectiveness of the proposed method. The experimental results indicate that this resource buffer sizing method can effectively reduce the consumption of project buffer and shorten the project duration. Reference | Related Articles | Metrics

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AI Adoption, Dynamic Capabilities and the New Quality Productivity of Manufacturing Enterprises Guo Runping, Wang Kecai, Lu Xiaoxuan, Jiang Hu Management Review    2025, 37 (11): 81-93.   Abstract （48）      PDF （1191KB）（39）       Knowledge map    Artificial Intelligence (AI) is an important engine of the new quality productivity. AI adoption is of great significance for manufacturing enterprises to build dynamic capabilities and thereby enhance the new quality productivity. However, few studies have deeply analyzed the mechanism of AI adoption acting on the new quality productivity of manufacturing enterprises from the perspective of dynamic capabilities. Therefore, this paper, based on the theory of dynamic capabilities, uses the data of manufacturing enterprises listed on China’s A-share market from 2015 to 2021 to empirically analyze the impact of AI adoption on the new quality productivity of manufacturing enterprises, and examines the mediating role of the different dimensions of dynamic capabilities and the moderating role of market competition intensity. The research findings are as follows: (1) Al adoption significantly and positively enhances the new quality productivity level of manufacturing enterprises, with the results remaining robust after multiple robustness tests; (2) Dynamic capabilities mediate the relationship between AI adoption and the new quality productivity of manufacturing enterprises; (3) Market competition intensity plays positive moderating roles among AI adoption and the new quality productivity of manufacturing enterprises；(4) Market competition intensity exerts differential moderating effects: it positively moderates the association between innovation capability and the new quality productivity in manufacturing enterprises, negatively moderates the relationship between absorptive capacity and the new quality productivity in manufacturing enterprises, while demonstrating no significant moderating effect on the linkage between adaptive capability and new quality productivity. The research findings contribute to a deeper understanding of the mechanisms through which AI influences new quality productive forces in manufacturing enterprises, extend the theoretical exploration of dynamic capability into AI-driven contexts, deepen the understanding of the boundaries of different dynamic capability dimensions, and enrich the antecedent research on the new quality productivity of manufacturing enterprises. Furthermore, this study offers actionable strategies for Chinese manufacturing enterprises to cultivate and enhance their new quality productive forces. Reference | Related Articles | Metrics