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Research on Industrial Digitalization Inputs, Electricity Dependence and Spillover Effects Yu Xingjin, Fang Ying Management Review    2026, 38 (8): 3-17.   Abstract （146）      PDF （1605KB）（99）       Knowledge map    Digitalization not only drives the expansion of energy demand but also profoundly reshapes the patterns of energy supply and consumption, so it is of great significance to explore the impact of industrial digital transformation on electricity dependence. Based on China’s input-output tables from 1993 to 2021 provided by Eora, this paper measures electricity dependence by the share of total inputs from the electricity production and supply sector in industry intermediate inputs, and investigates the impact of industrial digitalization inputs on electricity dependence as well as the mechanism underlying the impact. The findings indicate that industrial digitalization inputs have a significant positive effect on electricity dependence, which remains robust after addressing endogeneity concerns and a series of robustness checks. Specifically, industrial digitalization inputs strengthen internal electricity demand by increasing direct electricity dependence and electrification rates on the one hand, and further amplifies electricity demand by enhancing indirect electricity dependence and generating spillover effects that transmit along upstream and downstream supply chains on the other hand. Moreover, digitalization inputs in the electricity production and supply sector helps optimize its energy consumption structure, and improved access to clean energy also facilitates industrial digital transformation. Furthermore, the promoting effect of industrial digitalization inputs on electricity dependence is stronger in industries with high energy consumption, high electrification rates, and high digitalization intensity, exhibiting heterogeneous effects across industries with different factor intensities. This paper provides empirical evidence for understanding changes in industrial energy use structure amid digital transformation and for formulating differentiated industrial and low-carbon transition policies. Reference | Related Articles | Metrics

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A Study of the Relationship between Supply Chain Integration, Information Sharing Level and Supply Chain Resilience Ma Xiaoyu, Li Yawen, Lin Chaohua, Zhang Chaomin, Jiang Zhongzhong Management Review    2026, 38 (8): 239-251.   Abstract （70）      PDF （1326KB）（70）       Knowledge map    In the face of growing risks and uncertainties, firms are in urgent need of enhancing the resilience of their supply chains. However, existing literature offers limited understanding of the mechanisms underlying supply chain resilience, particularly regarding the differentiated effects and boundary conditions of internal versus external supply chain integration. Based on the dynamic capabilities theory, this study uses valid survey data from 622 firms collected in the Alliance of Industrial Internet and related organizations to investigate the impact of supply chain integration on supply chain resilience. The findings reveal that supply chain integration has a significant positive effect on supply chain resilience, with internal integration exerting a stronger impact than external integration. Moreover, the level of information sharing plays a partial mediating role in this relationship, while a firm’s digital capability strengthens the mediating effect of information sharing. Further analysis indicates that manufacturing firms exhibit higher dependence on supply chain integration, whereas the resilience-enhancing effect of integration is weaker for medium-sized firms. Based on these findings, this study proposes an innovative strategy of “inside-out” integration to enhance supply chain resilience, offering insights for firms to manage supply chain in complex and uncertain environments. Reference | Related Articles | Metrics

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Research on the Path to Key Technology Breakthroughs in Hard-tech Enterprises Based on the Multiple Helix Innovation Theory Wang Song, Yu Mei, Wang Shouyang, Bian Jiangze Management Review    2026, 38 (5): 263-273.   Abstract （104）      PDF （3963KB）（189）       Knowledge map    Overcoming the "bottleneck" constraints in the high-end equipment manufacturing industry chain is crucial for China to achieve technological self-reliance and strength. Based on the Multiple Helix Innovation Theory, this paper takes the high-end equipment manufacturing enterprise Beijing Jingyi Equipment Technology Co., Ltd. as the research object to explore its pathway and mechanisms for breaking through core key technologies and achieving domestic substitution. By constructing a theoretical analytical framework for hard-tech enterprise innovation, it extends and enriches the Multiple Helix Innovation Theory. The paper clarifies the new ecological relationships within the multi-level sci-tech finance ecosystem of "universities-industry-government-venture capital-banks-other financial institutions-capital market" that drive the development of hard-tech enterprises. This provides an in-depth analysis for the sustainable innovation of high-end equipment manufacturing enterprises and also offers reference and new perspectives for similar enterprises to achieve breakthroughs in key core technologies. Reference | Related Articles | Metrics

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The Impact of Digital Economy Development on Residents’ Consumption: An Empirical Study Based on City-level Panel Data in China Wang Yaoyao, Yang Ying, Jia Ruining, Zhang Xiaokong, Chai Jian Management Review    2024, 36 (6): 67-80.   Abstract （900）      PDF （1298KB）（414）       Knowledge map    China has been experimenting with the transition from an investment-driven economic development mode to a consumption-driven mode. With the digital reconstruction of production mode, it is practically imperative to address the challenging question of how to explore the “digital dividend” and improve residents’ consumption. Based on this, we aim to explore the impact of digital economy development on residents’ consumption and its internal mechanism. Specifically, we use the observation of the 2088 city-year panels formed by 232 cities from 2011 to 2019, and conduct an empirical research by building a panel fixed effect model and a spatial econometric model. The results show that: (1) the digital economy development can boost residents’ consumption through the “income effect” and the “innovation effect”, which is still true after eliminating endogenous problems; (2) the digital economy development has a significant impact on the residents’ consumption in neighboring areas, namely, a positive spatial spillover effect; (3) the digital economy has a heterogeneous impact on residents’ consumption. For highly-developed regions, the digital economy development has a more significant effect on consumption promotion. This study contributes to the in-depth understanding of the important role of digital economy development and provides an important theoretical basis and policy reference for the digital transformation to release the residents’ consumption potential. Reference | Related Articles | Metrics

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Public Concerns and Attitudes towards “Fake House Ads”: A Text Mining Study Based on Microblog Comments Liu Guihai, Cui Fulong, Lu Caihan, Zeng Wenhai Management Review    2023, 35 (11): 153-165.   Abstract （239）      PDF （3661KB）（295）       Knowledge map    An in-depth analysis of fake house microblog commentary based on text mining technology, a text feature analysis by means of text feature extraction, word frequency analysis and feature association analysis, and an analysis of sentiment tendency, may help provide an insight into the deeper meaning of the commentary, the real concerns and sentimental attitude of the public, and the formation mechanism underlying the concerns and attitude. Such an insight enables the public to optimize their behavior strategies, intermediary enterprises to improve their services and authorities to change their supervision mode. The study shows that:(1) public sentiment towards fake house ads and the overall housing market is predominantly negative, as evidenced by 72.1% of the public holding a negative attitude and 69.3% holding a highly negative attitude; (2) there is a misalignment in the focus of public attention on the four levels of housing quality, service level, individual perception and supervision; (3) the core factors for whether the public sentiment is positive or negative lie in the quality of available houses and the level of intermediary service. The intensity of regulation plays a smaller role in generating positive sentiment than in generating negative sentiment; and (4) the choice of the business model of intermediary enterprises affects the degree of importance they attach to fake house ads, which indirectly affects the change in public sentiment. The above findings have implications for revealing the nature of fake house ads, digging deeper into the public's real inner needs and promoting the benign development of the real estate market. Reference | Related Articles | Metrics

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Nonlinear Synergy or Path Dependence？—The Heterogeneous Driving Effect of 3E System Coupling Coordination on Green Total Factor Productivity Lei Junchan, Chai Jian Management Review    2026, 38 (8): 18-30.   Abstract （68）      PDF （1537KB）（49）       Knowledge map    Under mounting pressures of increasingly stringent resource constraints, severe environmental pollution, and ecosystem degradation, ecological overload and sluggish growth caused by resource misallocation have emerged as critical bottlenecks constraining the development of new quality productive force. This paper, focusing on the key issues of empowering the green foundation of new quality productivity forces, constructs an analytical framework for the coupling and coordination of the Energy-Environment-Economy (3E) system under sustainable development goals, and examines the nonlinear impact of China’s 3E system coupling on Green Total Factor Productivity (GTFP) via spatiotemporal dimension. The results indicate that China’s 3E system exhibits a developmental pattern characterized primarily by “intermediate coordination with notable gradient transition”. When the coupling coordination degree surpasses the critical threshold (0.8424) and enters the “well-coordinated” stage, technological progress becomes the primary driver of GTFP growth, with its marginal contribution to GTFP increasing by 42.4%. Furthermore, regional heterogeneity reveals that coastal regions leverage institutional dividends to achieve a manifold increase in GTFP. In contrast, inland regions are constrained by path dependency, limiting their growth potential. The central regions, however, exhibit a “double threshold” effect. These findings provide a basis for policymaking and offer policy implications for building a regional collaborative governance system, addressing resource misallocation, and accelerating the leapfrog development of new quality productive forces. Reference | Related Articles | Metrics

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Top Management Team Functional Background and Corporate Venture Capital: The Mediating Role of Focus of Attention Feng Jian, Dai Weiqi, Zhou Dan Management Review    2022, 34 (12): 121-130.   Abstract （283）      PDF （1260KB）（362）       Knowledge map    Drawing on the upper echelons theory and the attention-based view, this study uses data from 657 listed manufacturing firms in China to examine the relationship between top management team’s functional background and corporate venture capital as well as the mediating role of attention focus by employing both content analysis and econometrics. The results show that the proportion of top management team’s out-put functional background is positively related to corporate venture capital, and the attention focus plays a partial mediating role between them. In addition, the out-put functional background also leads to external attention focus. This paper not only contributes to the upper echelons theory by opening up the “black box” between top management team’ characteristics and their strategic decision-making, but also has practical implications for Chinese private firm on how to practice corporate venture capital activities. Reference | Related Articles | Metrics

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From Digitalization to Embodiment: Research on the Development of Digital Technologies Promoting the Digitalization of Knowledge Transfer Cui Xinjian, Ren Jing, Cui Zhixin Management Review    2026, 38 (8): 31-44.   Abstract （88）      PDF （2537KB）（56）       Knowledge map    The rapid advancement of digital technology has fundamentally reshaped the transfer, diffusion, and creation of human know-ledge. Grounded in the classic SECI model, this study examines the intellectualization of knowledge transfer through three dimensions—its trajectory, function, and model—to uncover the underlying mechanisms driven by digital technologies. The findings indicate that: First, the trajectory evolves progressively from digitalization to intelligentization and toward embodiment, transcending spatiotemporal constraints, particularly in tacit knowledge transfer. Embodied intelligence, as an advanced form of AI, leverages body-environment interactions to enable more efficient intelligent behaviors. Second, the functionality intensifies along this trajectory, overcoming limitations of the SECI model and reflecting a shift in cognitive modes from connectivity and sharing to intelligent empowerment and ultimately human-machine integration. Third, The model transforms the classical SECI framework, leveraging technologies such as cloud computing, quantum computing, and large models to converge four stages into a unified “human-machine shared sensing” phase, enabling instant knowledge transfer across heterogeneous spatiotemporal contexts. This study highlights the profound impact of digital technologies on knowledge transfer, offers theoretical insights for knowledge management and intellectualization, and provides practical guidance for knowledge-intensive organizations in fostering knowledge transfer and enhancing innovation capabilities during digital transformation. Reference | Related Articles | Metrics

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The Impact of SRDI “Little Giant” Enterprises’ Participation in Standard-setting on Their Growth Yang Yan, He Xinru, Wu Aiqi, Wu Bo Management Review    2026, 38 (8): 108-120.   Abstract （73）      PDF （2462KB）（47）       Knowledge map    The growth of SRDI “Little Giant” enterprises, which are an important force in curbing cutthroat competition around key core technologies, has received unprecedented attention and strong support from the Ministry of Industry and Information Technology (MIIT) of the People’s Republic of China. By participating in the development of national and industrial standards, SRDI “Little Giant” enterprises can better orient themselves in their high-quality development and gain support in terms of standards, but the existing research on the impact of their participation in standard development on their growth and the mechanism underlying the impact is not deep enough. This paper constructs a theoretical model based on signal theory and knowledge-based view, collects the data of 752 manufacturing SRDI “Little Giant” enterprises from 2015 to 2022, and empirically examines the impact of their participation in standard-setting on their growth and the boundary conditions. The study finds that SRDI “Little Giant” enterprises’ participation in standard-setting promotes their growth through the intermediary mechanism of increasing customer dispersion, and the scenario diversity attribute of enterprises negatively moderates the relationship between participation in standard setting and customer dispersion, while the technological sophistication attribute positively moderates the relationship between customer dispersion and growth; further analyses show that participation in standard-setting has a stronger effect on the growth of firms that are smaller in size and in more competitive industries. The findings of the study help deepen the understanding of the growth path of SRDI “Little Giant” enterprises, and provide a theoretical basis for “Little Giant” enterprises to break through the growth boundary and better play the role of chain-supplementing and chain-strengthening in a highly dynamic environment. Reference | Related Articles | Metrics

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Emission Reduction Strategies and Policy Optimization for Low-carbon Supply Chains Empowered by Blockchain Technology Yu Zhaoqing, Fan Runjie, Wang Yuyan, Li Xin Management Review    2026, 38 (8): 252-262.   Abstract （50）      PDF （2067KB）（47）       Knowledge map    Against the backdrop of increasingly strict global carbon emission reduction requirements and the popularization of the concept of sustainable development, national policy guidance and the innovative application of blockchain technology continue to drive supply chain enterprises to attach growing importance to carbon emission reduction practices. Under the carbon trading mechanism, this paper constructs a low-carbon supply chain model empowered by blockchain technology in which manufacturers and retailers jointly invest in carbon emission reduction, considering the incentive policy of government subsidies for blockchain construction. The independent emission reduction and cooperative emission reduction strategies of the low-carbon supply chain are analyzed. The study shows that regardless of whether blockchain technology is applied or not, cooperative strategy is more helpful than independent strategy for reducing carbon emission and expanding production. And the cooperative strategy is more conducive to realizing an agile low-carbon supply chain. Blockchain technology can empower enterprises to reduce carbon emissions and expand production under the compensatory effect of cooperative strategy, but it depends on the empowerment level of blockchain and the cost of blockchain usage. Moreover, the application of blockchain technology requires the product market to be more responsive than the carbon trading market to avoid the Prisoner’s Dilemma. The government’s incentive policy of subsidizing retailers that apply blockchain technology is conducive to easing the cost pressure on retailers, but it cannot directly reduce carbon emission. The government should design a diversified blockchain support policy, expand the scope of subsidy targets, and diversify the subsidy means. Reference | Related Articles | Metrics

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Trade Restrictive Policies and Global Value Chain Network Resilience Qiao Xiaoyong, Zheng Minhui, Hou Tingyu Management Review    2026, 38 (8): 45-57.   Abstract （58）      PDF （2596KB）（61）       Knowledge map    Against the backdrop of persistent turbulence in the global economic and trade environment and the escalating trend of trade protectionism, trade restrictive policies have emerged as a significant exogenous shock factor affecting the stable operation of global value chains. This paper constructs a global value chain network distinguishing between domestic and foreign-invested enterprises based on OECD-AMNE input-output data. Utilising the GTA Global Trade Alert database to quantify the intensity and scope of trade restrictive measures, it systematically assesses the impact of such policies on the resilience of global value chain networks from a multidimensional perspective of heterogeneity across countries, industries, and domestic versus foreign-invested enterprises. The study finds that: (1) Trade restrictive policies exert a significant dampening effect on the resilience of both domestic and foreign-invested enterprises within global value chain networks. (2) Trade restrictive policies produce heterogeneous impacts on the resilience of domestic and foreign-invested enterprises within global value chain networks, depending on the development level of their home countries or economies, their sectoral affiliation, and the specific type of trade restrictive policy imposed. (3) Trade restrictive policies exert negative impacts on the resilience of both domestic and foreign-invested enterprises within global value chain networks through channels including increased intermediate goods trade costs, suppression of technological spillover effects, and reduced participation in global value chains. (4) Trade restrictive policies exert negative impacts on the network resilience of both domestic and foreign-invested enterprises participating in complex value chain activities, while only adversely affecting the network resilience of foreign-invested enterprises engaged in simple value chain activities. The findings of this study have important practical significance for maintaining a stable global economic and trade pattern and building resilient industrial and supply chains. Reference | Related Articles | Metrics

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Measurement, Spatio-Temporal Patterns, and Dynamic Evolution of Regional Competitiveness of Chinese Agricultural Enterprises -With a Comparative Analysis of Differences in Three Major Grain Functional Zones Zhang Yanlong, Chen Hui, Wang Mingzhe Management Review    2026, 38 (9): 3-15.   Abstract （56）      PDF （3653KB）（38）       Knowledge map    Against the backdrop of accelerating agricultural and rural modernization, the systematic assessment of the regional competitiveness of agricultural enterprises has become crucial for revealing the evolution of new agricultural productive forces. Based on a self-constructed “star-shaped network hierarchy model” this study designs an indicator system for evaluating the regional competitiveness of agricultural enterprises using the ANP method. Using monitoring data on leading agricultural industrialization enterprises from 2,648 counties， it systematically analyzes the spatio-temporal patterns, dynamic evolution characteristics, and influencing factors of regional competitiveness across the nation and within the three major grain functional zones. The results indicate that: (1) The Gini coefficients of competitiveness for the nation and the three major grain functional zones show a trend of first increasing and then decreasing. Although regional disparities have somewhat eased, unbalanced characteristics remain prominent, with internal disparities within major grain-producing areas expanding significantly; (2) The regional competitiveness of agricultural enterprises nationwide exhibits a “cold in the west, hot in the east” spatial distribution; (3) Both the competitiveness and absolute differences have increased nationwide, and within the three major grain functional zones and significant agglomeration occurs in areas where grain production and marketing are balanced; (4) The regional competitiveness of agricultural enterprises nationwide exhibits “club convergence” yet major producing and marketing areas demonstrate a trend of leapfrog development; (5) The regional competitiveness of agricultural enterprises shows a spatial correlation characterized by a “trickle-down effect” while industrial agglomeration, economic development level, and digital transformation all have significant positive effects on enhancing competitiveness. By innovatively constructing an analytical framework, this study deepens the understanding of the connotation and evolutionary patterns of regional competitiveness of agricultural enterprises, provides an important theoretical basis for its scientific and systematic evaluation, and offers valuable practical insights for enhancing new agricultural productive forces and ensuring national food security. Reference | Related Articles | Metrics

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Use but in a Covert Way?—The Impact of Perceived AI Utility on Motivation and Construction of Employee Impression Management Zhou Zhirui, Xiang Shuting Management Review    2026, 38 (8): 215-227.   Abstract （68）      PDF （2567KB）（45）       Knowledge map    This study introduces the concept of AI use hiding and, grounded in the two-component model of impression management theory, examines the underlying motives driving employees’ AI use hiding behaviors through the dual-process lens of impression motivation and impression construction. Based on data from a three-wave survey of 475 employees at a large internet company in Southwest China, the findings reveal that: (1) employees’ perceived AI utility, along with their perceptions of leader’s AI trust or AI doubt, jointly stimulate assertive and defensive impression management motives (the impression motivation process); (2) these impression management motives, combined with employee’ perceived AI accessibility, influence their decision to hide AI use as a specific impression construction strategy (the impression construction process); (3) both assertive and defensive impression management motives mediate the relationship between perceived AI utility and AI use hiding; (4) the higher perceived leader’s AI trust or AI doubt and the lower perceived AI accessibility, the stronger the mediating effect of perceived AI utility on AI use hiding through impression management motives. These results not only illustrate that AI use hiding represents a balancing strategy between technological empowerment and impression management, but also highlight the crucial role of leadership attitudes and technological context in shaping employees’ impression management motivation and construction. Reference | Related Articles | Metrics

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Enterprise Carbon Risk Aversion, Green Image and Green Competitive Advantage Tao Ketao, Ren Xinyu, Guo Xinyu, Liu Pei Management Review    2026, 38 (8): 83-94.   Abstract （44）      PDF （1338KB）（35）       Knowledge map    The report of the 20th National Congress of the Communist Party of China called for efforts to “accelerate the green transformation of development mode, implement the comprehensive conservation strategy, and develop green and low-carbon industries”, which is a clear requirement for enterprises to develop in a green and low-carbon manner. Effectively driving the improvement of carbon emission performance through carbon risk avoidance has become an inevitable choice for enterprises to obtain green competitive advantages and realize low-carbon transformation. Based on signaling theory and organizational learning theory, this paper builds a theoretical model of carbon risk avoidance, green image and green competitive advantage, and empirically tests the research hypothesis and influence path with data from 239 enterprises. The results show that carbon risk aversion has an inverted U-shaped effect on green competitive advantage, and corporate green image plays a partial mediating role in the effect of carbon risk aversion on green competitive advantage. Further research shows that organizational learning ability can significantly enhance the inverted U-shaped relationship between carbon risk avoidance and green competitive advantage, and higher organizational learning ability can enhance the positive effect of carbon risk avoidance on green competitive advantage. The research conclusions of this paper expand the theoretical system of carbon risk, and provide theoretical basis and policy inspiration for Chinese enterprises to carry out low-carbon transformation to improve green competitive advantage from the perspective of “carbon peak”. Reference | Related Articles | Metrics

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Research on Identification of Digital Opportunity Windows and Strategic Rhythm Selection for International New Ventures Sun Yi, Xu Hui Management Review    2026, 38 (8): 276-288.   Abstract （54）      PDF （2181KB）（44）       Knowledge map    The emergence of digital windows of opportunity not only provides international new ventures (INVs) with opportunities to catch up rapidly in the global market, but also generates brand-new opportunities for them to overtake competitors and “take the lead”. However, existing research has not yet explored in depth the issue of strategic rhythm selection for such enterprises to develop digital windows of opportunity. This paper selects four INVs that have successfully seized digital windows of opportunity as research objects, and constructs a theoretical model matching digital windows of opportunity with strategic rhythms on the basis of analyzing the characteristics of windows of opportunity. The research findings are as follows: (1) From the perspective of opportunity transformation, based on the two dimensions of “innovation type” and “core resource”, the digital windows of opportunity faced by INVs are divided into four types, namely “internal-exploitative”, “external-exploitative”, “internal-exploratory” and “external-exploratory”; (2) For different types of digital windows of opportunity, INVs adopt four strategic rhythms, namely “gradual breakthrough”, “synchronous adaptation”, “flexible orchestration” and “high-frequency shaping”, to carry out opportunity transformation, and smoothly promote the implementation of strategic rhythms by virtue of the organic combination of two strategic actions: digital connection and resource integration; (3) In the process of the coordinated combination of digital connection and resource integration, INVs mainly release the effectiveness of the action combination through two mechanisms: “enhanced complementarity” and “collaborative integration”. The theoretical framework finally formed in this paper is of great theoretical significance for understanding the unique international expansion behaviors of INVs in the context of digital globalization, and responds to the call of scholars in the field of international business to expand the research on the internationalization behaviors of new ventures in the digital era. Reference | Related Articles | Metrics

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Digital Product Network and Corporate Green Production Cheng Jiajia, Yu Zhuangxiong, Fu Jinhua Management Review    2026, 38 (8): 71-82.   Abstract （41）      PDF （1272KB）（34）       Knowledge map    In green development, it is of great significance to give full play to the leading role of the digital economy, a powerful driving force for high-quality economic development. Based on the data of Chinese Industrial Enterprise Pollution Emission Database and China Customs Database, this paper investigates how a company’s green production is influenced by its digital input and the digital product network it is exposed to. Empirical results show: a company’s digital input does not have a significant influence on its green production, while the digital product network it is exposed to exerts a powerful enabling effect on its green production. Digital technology flowing in the product network improves the green production capacity of enterprises by increasing their innovation and improving their supply-chain management. This cleaning effect can be enhanced by higher allocation efficiency in the export market, especially for small companies that offer products of quite different quality or operate in the zones that are subject to dually environmental control. Key words: digital input, digital product network, green production, innovation, supply-chain management Reference | Related Articles | Metrics

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The Ways for Breakthrough: The Impact of Entrepreneurial Resilience on Strategic Decision-making Quality in Digital Environment Hao Xiling, Liu Yu Management Review    2026, 38 (8): 150-162.   Abstract （63）      PDF （1295KB）（40）       Knowledge map    In the increasingly digitalized business environment, entrepreneurial resilience, which is the ability of entrepreneurs to effectively adapt to, recover from, and transcend difficulties, plays a crucial role in enhancing the quality of strategic decision-making through learning. Grounded in Upper Echelons Theory, this study elucidates the mechanism through which entrepreneurial resilience influences strategic decision quality in digital environment. The analysis of 313 survey questionnaires reveals that the stronger the recovery resilience and growth resilience of entrepreneurs, the higher the quality of their strategic decision-making. Entrepreneurial resilience exerts a positive influence on strategic decision-making quality through two learning pathways: exploratory learning and exploitative learning. However, when the level of enterprise digitalization is high, the positive impact of recovery resilience on strategic decision-making quality is attenuated. This finding enriches the understanding of the proactive role of entrepreneurial resilience, offers a new perspective for strategic decision-making research, and provides practical guidance for entrepreneurs to leverage entrepreneurial resilience in enhancing strategic decision-making quality in digital environment. Reference | Related Articles | Metrics

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Research on the Ambidexterity Mechanism of Airworthiness Standards Innovation:A Case Study of the AC313 Helicopter Ouyang Taohua, Chen Xintong, Fu Guozheng, Zheng Shuwen Management Review    2026, 38 (8): 263-275.   Abstract （57）      PDF （1590KB）（41）       Knowledge map    Airworthiness standards, forged through blood and lives, govern the entire civil aircraft development process and define the safety baseline for civil aviation. Airworthiness standards impose extremely stringent safety requirements on technical standards, with a minimum safety threshold of 10-9 —any failure in a standard clause may lead to catastrophic consequences including aircraft destruction and loss of life. Moreover, since airspace functions as a globally unified market without regional protectionism or graduated entry mechanisms, latecomer countries must meet, from the outset, the same rigorous safety standards as those long-established nations. These extreme constraints create a fundamental dilemma: latecomers must simultaneously conform to existing international standards for market acceptance while breaking through established frameworks to meet unique domestic needs. How to resolve this dilemma has become an urgent question for management research. This study selects AC313 helicopter—the world’s first to achieve full-domain plateau-plain airworthiness and obtain both domestic and international certification—as a representative case. Using a longitudinal case study method, we investigate the mechanisms underlying airworthiness standards innovation in latecomer countries. Key findings include: (1) To overcome the barrier nature of airworthiness standards, latecomers must build an adaptive innovation pathway driven by conventional scenarios, achieving proactive internalization of existing standards through “deconstructing standard principles-integrating resources across platforms-compliance verification,” thus laying the foundation for original breakthroughs. (2) To meet the scientific rigor of airworthiness standards, latecomers must build a breakthrough innovation pathway driven by special scenarios, constructing original standards through “forward design-integrating industry-university-research resources-feasibility verification,” thus providing technological support and expanded application domains. (3) An ambidexterity mechanism emerges between these two pathways: adaptation provides the scientific basis for breakthroughs, while breakthroughs expand the capability boundaries for adaptation. The two are organically unified, jointly enabling standards innovation in latecomer countries. This study offers theoretical guidance and practical insights for latecomers pursuing innovation in high-technology standards domains. 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 （607）      PDF （1244KB）（1356）       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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Convertible Bond Arbitrage Strategy:Case of Chinese Market Huang Binghua, Feng Yun    2017, 29 (11): 3-16.   Abstract （887）      PDF （1315KB）（2988）       Knowledge map    The core idea behind classic convertible bond arbitrage strategy is to take a long position in bonds and a short position in the underlying stocks in an effort to exploit the underpricing of convertible bonds. In this paper, we use the refined theoretical convertible bond pricing model developed by Tsiveriotis and Fernandes[1] to look into Chinese convertible bond market from 2010 through 2014, and conclude that on average, the issued convertible bond suffered about -6.09% pricing error. Then, we construct two types of convertible bond arbitrage strategies using the daily history data of 41 tradable convertible bonds and underlying stock in Hu-Shen convertible bond market between 2010 and 2014, which generate 0.299% and 0.263% average monthly return respectively. Finally, we find that convertible arbitrage strategy is not significantly correlated to Hu-Shen 300 index, convertible bond mutual fund and convertible bond market index, and this implies that convertible bond arbitrage strategy is an excellent alternative investment method. Reference | Related Articles | Metrics