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Does the Development of Digital Economy Narrows the Income Gap between Urban and Rural Areas?—Empirical Evidence from Chinese Cities Li Zhen, Chang Zhongze, Dai Wei, Wang Shaobin Management Review    2025, 37 (4): 61-71.   Abstract （143）      PDF （1198KB）（245）       Knowledge map    Narrowing the income gap between urban and rural areas is one of the most important ways to promote common prosperity. At the same time, the world has entered the digital era, and the digital economy has had a significant impact on the income gap between urban and rural areas. This paper explores the theoretical logic and specific mechanism of the impact of digital economy on the urban-rural income gap. Using the data of 290 cities in China, this paper makes an empirical analysis by constructing the digital economy index system and using the fixed-effect model, generalized moment estimation, panel threshold model and other methods. The results show that there is a significant U-shaped relationship between digital economy and urban-rural income gap, which is well supported by robustness test and endogeneity test. Mechanism analysis shows that digital economy can narrow the urban-rural income gap by promoting the level of urbanization. Threshold regression analysis shows that the effect of digital economy development on urban-rural income gap is regulated by per capita GDP and the proportion of science and technology expenditure in GDP. Based on the theoretical analysis and empirical results, this paper puts forward some targeted policy suggestions to narrow the urban-rural income gap. Reference | Related Articles | Metrics

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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 （233）      PDF （3327KB）（991）       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 （216）      PDF （1473KB）（870）       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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A Study of Linkage between Crude Oil and Natural Gas in North American Market: Based on the Empirical Analysis of Bayesian DCC-GARCH Model and LSTAR Model Chai Jian, Lin Jie, Liang Ting Management Review    2021, 33 (7): 16-28.   Abstract （300）      PDF （2788KB）（451）       Knowledge map    The characteristic of oil and gas as substitutes for each other makes the two show a certain correlation. The changes and linkage of oil and gas prices in the world's largest oil and gas consumer market will affect the global energy development pattern and investment strategy. Firstly, the paper studies the overall correlation between crude oil and natural gas yields in North America based on the Bayesian DCC-GARCH (Dynamic Conditional Correlation GARCH) model. In the case that the overall correlation between the two was less significant, the dynamic correlation characteristics of the two in trend, season and remainder are studied by STL decomposition. And then we analyze the nonlinear characteristics of correlation between oil and gas in trend through the LSTAR (Logistis Smooth Transformation Autoregressive) model. The results show the dynamic correlation between crude oil and natural gas yields in North American market is always positive, with a correlation range of[0.137,0.216] and a median of 0.181, the result of which could better reflect the time-varying characteristics of oil and gas linkage compared with the CCC-GARCH model (Constant Conditional Correlation GARCH). The correlation range of oil and gas is small, showing that there is no significant correlation between them. The results of STL decomposition show that there is a significant correlation between oil and gas yields in trend. And, LSTAR model could better characterize the correlation fluctuation and have a higher degree of fitting than AR model. The correlation between oil and gas in trend has a smooth transition at 2.026, and the transform speed from low zone to high zone is very fast. The results of the study have guiding significance for investors to increase their income, producers to control their costs, and the relevant government departments to formulate corresponding energy strategies. Reference | Related Articles | Metrics

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Emission Reduction Effect of Low-carbon Transition in Power System: Analysis from the Perspective of Structure Optimization Zhang Guoxing, Gao Xiulin, Yang Yang, Yu Lean, Liu Chuanbin Management Review    2025, 37 (5): 3-16.   Abstract （129）      PDF （1501KB）（96）       Knowledge map    Promoting structural decarbonization of the power system, the largest source of CO2 emissions in China, is conducive to slowing down urban carbon emissions and realizing the carbon peaking and carbon neutrality goals. On the basis of decomposing the production data of all power plants of 6000 kW and above in China (14,570 plants in total) to the city level, this paper uses the panel data of 274 urban power production terminals from 2015 to 2019 to analyze the impact of low-carbon transformation of power system on urban carbon emissions and the spatial differences by using a spatial metro-logy model. With the aid of LMDI decomposition analysis, the future carbon emission paths of power systems in seven regions are predicted under two policy scenarios. The results show that:(1) Compared with thermal power generation, renewable energy generation can effectively reduce urban carbon emissions in Central, South, Southwest and Northwest China; (2) The clean transformation of power generation structure can effectively inhibit the increase of urban carbon emissions, and there is a positive spatial spillover effect. Specifically, when the share of renewable energy generation increases by 1%, urban carbon emissions fall by an average of 2.1%; (3) Regional policy scenario analysis shows that power systems in Northwest and Southwest China will be the first to achieve the peak of carbon emissions, while those in North and East China will be the last, and all regional power systems will achieve the peak goal successively in 2026-2030. At present, the overall proportion of clean energy power generation is still small, and it is necessary to fully tap and utilize the potential of wind, sunlight and other renewable energy power generation while promoting power generation technology innovation, and continue to enhance the positive role of renewables in urban carbon reduction and green governance. 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 （522）      PDF （1207KB）（1286）       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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The Double-edged Sword Effect of the Use of Intelligent Machines on Employees'Work Engagement: A Stereotype Content Model Approach Zhan Xiaojun, Zhou Wenjun, Wang Tao Management Review    2025, 37 (5): 180-190.   Abstract （49）      PDF （2002KB）（56）       Knowledge map    The usage of intelligent machines (AI, robots, and algorithms) has changed the way employees work. Given the workplace complexity arising from the interaction between employees and intelligent machines, it is critical to understand how the usage of intelligent machines on their work engagement. Based on the stereotype content model, this study explores the double-edged sword effect of employees' perception of the usage of intelligent machines on their work engagement through 325 valid samples. The results show that for employees with low AI identity, the usage of intelligent machines reduces their warmth perception, thus inhibiting their work engagement; for employees with high AI identity, the usage of intelligent machines enhances their competence perception, thus promoting their work engagement. This paper opens the black box of the mechanism of how the usage of intelligent machines influences employees' work engagement and broadens the research field of stereotype content model, thus helpful for organizations to effectively combine intelligent machines with employee work, for employees to reasonably recognize intelligent machines, and for both organizations and employees to benefit from succeed artificial intelligence. Reference | Related Articles | Metrics

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Has the Urban Agglomeration Policy Eased Competition for Industrial Land Prices? -Empirical Evidence from 19 Urban Agglomerations in China Huang Zhiji, Shi Tao, He Canfei Management Review    2025, 37 (5): 17-29.   Abstract （54）      PDF （1427KB）（54）       Knowledge map    Price competition for industrial land transfers is a typical feature of horizontal competition among local governments in China. The implementation of the urban agglomerations' development strategy has adjusted the competitive incentives of local governments at the cross-administrative level and reshaped their industrial land granting behavior. This paper investigates the impact of urban agglomeration approvals on industrial land price competition using panel data from 2007 to 2020 for 281 prefecture-level and above cities across China. The results are as follows. (1) Benchmark regressions find that urban agglomeration approvals mitigate industrial land grant price competition among local governments under the geographic proximity setting, and the estimation results remain robust after changing the proxy variables, urban agglomeration approval time, and spatial weight matrix. (2) The path analysis finds that the administrative and market dividends generated by the urban agglomeration approvals can be manifested as a significant increase in the entropy of manufacturing locations and the share of industrial enterprises in the urban agglomeration and a reduction in the willingness of local governments to engage in land price competition. (3) Expanded analysis reveals that the conditions for industrial land price competition among cities with similar economic development are the existence of geographical proximity or the same provincial administrative division; at the same time, urban agglomeration approvals have the greatest effect on mitigating industrial land price competition among cities with similar economic development in the province. This paper argues that centralizing the authority of urban cluster granting in the central government is an important policy tool to reasonably regulate the incentives of competition and cooperation among local governments. Reference | Related Articles | Metrics

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Digital Intelligence-driven Retail Ecosystem Model and Its County-level Practice: The Case of Yidu Tian Xin, Lu Zhaoxu, Ren Jianing, Tao Ye, Sheng Huizhan Management Review    2025, 37 (5): 265-276.   Abstract （81）      PDF （1660KB）（53）       Knowledge map    Analyzing the chain retail business models under the commercial environment of a county and promoting the digital and intelligent transformation of local retail enterprises is helpful for the county's economic growth, labor employment, and the cultivation of new quality productive forces in retail. We take the fat headquarters-thin store model, virtual retail model, and ecosystem retail model based on virtual business theory as the theoretical framework, and conduct a case study on Yidu, the only county-level retail enterprise that ranks among the top 20 convenience stores in China. We systematically summarize the business model of county chain convenience stores from the perspectives of development strategy, site selection, assortment management, data decision-making, community group buying, and business intelligence of chain retail operations. On this basis, we propose a retail ecosystem model driven by data and intelligence. Our research findings transcend the limitations of traditional convenience store theory, which posits that convenience stores are primarily concentrated in core urban areas and developed regions. We also expand the research on county-level retail, business ecosystems, and new quality productive forces in retail. In this way, we provide retail business models and a path for counties to accelerate the development of the distribution industry, promote labor employment, and drive regional economic growth. 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 （244）      PDF （3628KB）（401）       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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Vertically and Horizontally: Customer Concentration, Coupling Coordination Degree and Firm Performance Shi Jinyan, Yu Conghui, Li Yanxi Management Review    2024, 36 (6): 229-242.   Abstract （166）      PDF （1692KB）（498）       Knowledge map    This research explores the impact of customer concentration (CC) on firm performance from the perspective of vertical supply chain, and further discusses the moderating effect of the coordinate interaction and competitive coercion between customers from the perspective of horizontal supply chain. Based on the data of Shanghai and Shenzhen A-share listed companies and their top five customers, the empirical results show an inverted U-shaped relationship between CC and firm performances, which is more pronounced in non-stateowned enterprises. Furthermore, we build a set of customer coupling coordination degree metrics from the perspective of major customers’ purchasing behavior, and find that the inverted U-shaped relationship between CC and firm performance is strengthened by customer coupling coordination degree. In other words, the improvement of customer coupling coordination degree will strengthen both the positive relationship between moderate concentration and firm performance and the negative relationship between over-concentration and firm performance. This paper deepens the research into the mechanism of how CC influences firm performance, and provides empirical evidence for explaining the impact of principal relationship in supply chain on firm performance from multiple perspectives. Reference | Related Articles | Metrics

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The Participation of State-owned Capital and Tax Avoidance in Private Enterprises Qian Aimin, Li Jingyan, Wu Chuntian Management Review    2025, 37 (4): 46-60.   Abstract （88）      PDF （1541KB）（83）       Knowledge map    Using a sample of A-share listed private enterprises in China from 2008 to 2019, this paper studies the effect of state-owned capital on tax avoidance under the background of mixed ownership in private enterprises. The results show that the participation of state-owned capital reduces the level of tax avoidance in private enterprises, and the reduction is more significant in private enterprises registered in provinces with a lower level of financial marketization or a higher level of tax enforcement intensity. This paper also finds that state-owned capital reduces the level of tax avoidance via alleviating financial constraints of private enterprises. Further research shows that when the proportion of state-owned equity is higher, the reduction effect is more pronounced. Analysis on economic consequences shows that the participation of state-owned capital weakens the negative effect of tax avoidance on private enterprise and promotes firm value. This paper enriches the understanding of state-owned capital’s participation in private enterprises from the perspective of tax avoidance, and provides empirical support for the vigorous promotion of mixed ownership in private enterprises, which has important theoretical meaning and practical value. Reference | Related Articles | Metrics

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The Structure and Evolution of Industrial Embodied Carbon Emission Flow Network in China under the Constraint of Carbon Peaking Wang Zhaohua, Wang Shuohan, Li Hao, Wang Song, Zhang Shuang Management Review    2025, 37 (4): 3-16.   Abstract （231）      PDF （11018KB）（198）       Knowledge map    The upstream and downstream of the industrial production process are highly correlated, so changing the existing production process is bound to bring about transformations in the whole industrial system. Therefore, in order to achieve the carbon peak in the industrial sector, it is necessary to study the embodied carbon emission flow relationship between different industries to promote carbon emission reduction collaboratively. In this paper, we compile China’s input-output tables of 2025 and 2030 based on GRAS method and use expanded environment input-output model (EEIO) and social network analysis method (SNA) to identify the characteristics of the structure and evolution of the embodied carbon emission flow networks of China’s industrial chain during 2010 to 2030. The results show that during 2010 to 2030, the embodied carbon emissions of the power sector show a rapid rising trend, while those of petrochemical, chemical, non-metallic mineral products, smelting and pressing of mental decrease between 8% and 30%. As for the perspective of network structure, chemical, non-metallic mineral products and mental smelting and pressing sectors are the main embodied carbon “importers”, while electric power, chemical and special equipment manufacturing sectors are the main embodied carbon “suppliers”. Electric power sector, chemicals and specialized equipment manufacturing contribute 40% of the intermediation capacity in embodied carbon emission network. Under the constraint of carbon peak target, the center of embodied carbon network is gradually transferred to the tertiary industry, and electric power, service and transportation sectors become important “bridge” in the process of embodied carbon transfer. Reference | Related Articles | Metrics

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Digital Technology Investment Rhythm, Interentrainment and Green Innovation Performance Sun Zhongjuan, Li Huaqian, Liu Xuexin Management Review    2025, 37 (5): 94-107.   Abstract （44）      PDF （1309KB）（44）       Knowledge map    Existing researches of digital technology investment mainly focus on the perspective of "quantity", while ignoring the "temporal" perspective of digital technology investment process. Based on the "Rhythm View" and "Entrainment View" of corporate strategy, this study uses the panel data of listed companies in the heavy polluting industries from 2013 to 2020 to study the mechanism of how the rhythm of digital technology investment influences green innovation performance, and addresses the research gap in the temporal dimension of digital technology investment. The results show that:(1) there is an inverted U-shape relationship between technician investment rhythm and green innovation performance, and CEO's environmental cognition can enhance the relationship; (2) there is a U-shape relationship between digital asset investment rhythm and green innovation performance, and pressure-sensitive institutional ownership can enhance the relationship; (3) there is a U-shape relationship between the interentrainment of technician investment rhythm and digital asset investment rhythm and green innovation performance, and political connection can enhance this relationship. In the process of leveraging digital technology to drive green innovation, firms should pay attention to the rhythm of digital asset investment and technician investment, as well as the interentrainment between them. Reference | Related Articles | Metrics

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A Comparative Study on the Performance of Different Industries under the Same Introduction and Development Model -Take Chip Industry and High Speed Rail Industry as Examples Gong Huiqun, Huang Chao Management Review    2025, 37 (5): 30-42.   Abstract （38）      PDF （2465KB）（43）       Knowledge map    In order to explore the feasibility of introducing development mode to national industrial development, as well as the problems faced in improving industrial performance, this paper constructs an industrial performance evaluation index system under the introduction development mode, and makes an empirical analysis based on the data of chip industry and high-speed rail industry from 2009 to 2019. Data analysis results show that:chip industry and high-speed rail industry are important supporting industries to promote China's social and economic development, and their overall performance improvement is far faster than the national economic development speed. The two industries have the highest impact on input-output performance, but the chip industry needs to pay more attention to the government's financial expenditure on science and technology activities, while the high-speed rail industry needs to maintain the growth rate of fixed asset investment. In terms of research cooperation performance, the chip industry needs to enhance joint research and development with universities and scientific research institutions, and the high-speed rail industry needs to strengthen cooperation with foreign countries in technology and standards. In terms of market performance, the high-speed rail industry needs to improve the share of the international market, improve the profit contribution rate of international business, and speed up the overseas patent layout strategy. The chip industry needs to expand the domestic market share and carry out synchronous innovation of the whole industrial chain. At the same time, both industries need to pay attention to the reserve of compound talents. Economic performance of both industries is far from satisfactory. It is urgent to attract more social capital and expand financial investment channels as soon as possible, especially in the high-speed rail industry, which needs to find out how to reduce the asset liability ratio, improve the profit margin of main business and the growth rate of revenue, etc., a problem demanding prompt solution from the industries introducing the development mode. Reference | Related Articles | Metrics

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Is Integrity a Hindrance to Innovation? Research on the Impact of Leader Moral Ownership on Enterprise Business Model Innovation Wang Xuedong, Cui Yang, Meng Jiajia Management Review    2025, 37 (5): 108-120.   Abstract （49）      PDF （1346KB）（42）       Knowledge map    Although the cross-research on leadership and business model innovation is flourishing, existing literature still lacks a deep understanding of how leadership moral traits affect business model innovation. Based on the Upper Echelon Theory and attention-based view, introducing managers' exploratory attention and exploitative attention as mediating variables, and dividing business model innovation into novel and efficient types, this paper explores the mechanism of how leader moral ownership influences different types of business model innovation and the boundary conditions. An empirical research based on a questionnaire survey of 135 enterprises shows that:leaders' moral ownership has a negative impact on novelty-centered business model innovation, with exploitative attention and exploratory attention playing a mediating role between the two; Leaders' moral ownership has a positive impact on efficiency-centered business model innovation. Exploitative attention still plays a mediating role, but exploratory attention presents a masking effect, that is, the moral ownership of leaders hinders efficiency-centered business model innovation by inhibiting exploratory attention. As the dynamics of the environment increase, the negative impact of leader moral ownership on exploratory attention and the positive impact on exploitative attention both show a weakening trend. This study reveals the differentiated impact of leader moral ownership on different types of business model innovation, as well as its intermediary mechanisms and boundary conditions, providing new insights for the cross-research of leadership and business model innovation. Reference | Related Articles | Metrics

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The Structure and Value Creation Process of Business Ecosystem——A Case of the Xiaomi Eco-chain Tan Zhijia, Wei Wei, Zhu Wuxiang    2019, 31 (7): 172-185.   Abstract （1055）      PDF （3163KB）（1363）       Knowledge map    Eco-chain is an effective instrument for firm growth through network. This paper selects Xiaomi eco-chain as a typical case of firms which catch up from behind. The formation of the business eco-chain is carefully reviewed in time series to answer the core research question, how a business ecosystem is constructed. The discussion of the transaction mode aims at explaining the internal relationship which the literature did not clearly state. We find that the transaction parties are selected based on their resources and needs, just as how Xiaomi carefully constructed Xiaomi eco-chain based on the property rights and requirements of all players, and that the matching process determines the transaction model, that is why the pricing process of sharing rather than giving mechanism is more often used. The paper studies the data from multiple sources, such as face-to-face interview with the person in charge of Xiaomi eco-chain and the start-ups, the company files, the public speeches of the CEO of Xiaomi and so on, and applies the business model theory to describe and explain the formation and value creation of a business ecosystem. The case of Xiaomi eco-chain provides an inspiring example of how an effective business ecosystem can be formed, and enlightens further researches of the business ecosystem. Reference | Related Articles | Metrics

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The Formation Path and Mechanism of Cross-border Integration of Business Models in the Context of Digital Transformation: Hybrid Research Based on Grounded Theory and fsQCA Wang Bingcheng, Sun Yuxin, Zhao Jingyi Management Review    2025, 37 (5): 277-288.   Abstract （57）      PDF （1326KB）（41）       Knowledge map    Digitization has blurred industry boundaries and promoted industrial integration. Many enterprises choose to gain competitive advantages through cross-border integration of multiple business models. However, existing researches lack a systematic analysis of its driving factors and formation paths. This paper first uses classical grounded theory to extract the driving factors for cross-border integration of business models in the context of digital transformation, and then uses a combination of NCA and fsQCA methods to configure and analyze these factors, in order to explore the formation path and mechanism of cross-border integration of business models in the context of digital transformation. The findings are as follows. (1) The cross-border integration of business models in the context of digital transformation is influenced by resource and capability factors such as unabsorbed slack resources, cross-border knowledge search and digital technology embedding, external environment insight, organizational coordination flexibility and employee skill malleability; (2) The above six factors cannot constitute the necessary conditions for cross-border integration of business models, but improving external environmental insight and cross-border knowledge search level plays a relatively universal role in achieving cross-border integration of business models; (3) There are four groupings that drive the cross-border integration of business models, which can be categorized as stepby-step, employee-technology matching, rapid advancement, and flexible response based on the extension of employees' skills, led by the dual elements of cross-border knowledge resources and environmental insights. The research conclusion provides systematic thinking and useful insights for enterprises on how to achieve cross-border integration of business models in the context of digital transformation. Reference | Related Articles | Metrics

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How can Leader-Subordinate Critical Thinking Congruence Affect Creative Problem-solving? Chain Mediation and the Intervention Effect of Job Creativity Requirement Tu Xingyong, Zhang Qiao, Dong Yanan, Jiang Jing, Yang Baiyin Management Review    2025, 37 (4): 142-155.   Abstract （109）      PDF （1334KB）（102）       Knowledge map    Critical thinking is a basic dimension of the cognitive spectrum and is considered to be the most recognizable label for improving the creative output of subordinates. However, previous studies have ignored the differential effects and internal mechanisms of different combinations of “leader-subordinate” critical thinking on subordinates’ creative problem-solving. In order to gain a lasting competitive advantage in this “innovation-driven” context, we need to re-understand critical thinking and the constructive role it generates. Because critical thinking is not isolated from the field of Chinese organization and management. On the contrary, it provides certain annotations for individual behavior. In this sense, taking its essence, insight and glow the influence of critical thinking on individual behavior is different from the past, which has certain theoretical value and practical enlightenment. In order to remedy these deficiencies and fully reveal the different demands driven by cross-linking of thought, this paper takes the cognitive consistency theory as the upper theory by introducing the perspective of leader-subordinate matching, establishes a chain mediation model in which exploration behavior and resource acquisition act on subordinates’ creative problem-solving through subordinates’ critical thinking and leaders’ critical thinking, and describes in detail the moderating role of creative work requirements in this model. Based on the job demand-resource theory, this paper reveals the conditional intervention mechanism of creative work requirements in the process of improving creative problem-solving, responds to the situational differences generated by creative results, and provides further empirical support for high-quality improvement of creative problem-solving and accumulates local evidence. Polynomial regression and response surface analysis techniques are applied, a multi-source time lag is designed to reduce common method bias, by analyzing 269 leaders and employees paired data at two time points. It is found that: the higher the consistency between the leader’s critical thinking and the subordinate’s critical thinking, the higher the subordinate’s exploratory behavior. Compared with the situation of “high leader critical thinking and low subordinate critical thinking”, the exploration behavior of subordinates is not significantly increased in the case of “low leader critical thinking and high subordinate critical thinking”. The consistency of critical thinking between leaders and subordinates influences creative problem-solving through the chain mediation of exploration behavior and resource acquisition. Job creativity requirement plays a moderating role in the relationship between resource acquisition and creative problem-solving, and further, it has a conditional effect on the consistency of critical thinking between leaders and subordinates through the chain mediation of exploration behavior and resource acquisition. This paper explores and details the potential mechanism of how different combinations of leader-subordinate critical thinking influence creative problem-solving, provides more explanation paths for the intertwine drive of leadership and subordinates, and provides inspiration for the innovative competition of employee exploration behavior and creative problem-solving. Reference | Related Articles | Metrics

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Can Cooperation Enhance the Operational Capabilities of Charging Operators? A Study from the Perspective of the Platform Economy Gao Xin, Jia Fuyuan, Song Ruizhen, Nan Haonan, Zeng Ruochen Management Review    2025, 37 (5): 233-242.   Abstract （33）      PDF （15263KB）（39）       Knowledge map    As one of the key development areas in new infrastructure, the operational capabilities of operators are a significant factor affecting the healthy development of China's charging market for new energy vehicles. The establishment of charging platforms provides a space for matching the supply and demand between charging pile operators and users. However, due to the uneven operational and maintenance capabilities of charging operators within the platform, operators with low capabilities tend to free-ride, damaging the economic interests of operators with high capabilities. This can lead to the tragedy of the commons within the charging platform. Therefore, this study adopts a platform economy perspective to examine the interactions among charging operators with heterogeneous operational and maintenance capabilities within charging platforms. Utilizing game theory and public goods theory, a public goods game model is constructed to analyze the decision-making behaviors of different charging operators regarding the enhancement of their operational capabilities and to identify key influencing factors. The research reveals that spontaneous cooperation among charging operators is insufficient to resist the invasion of operators employing the hitchhiking strategy. Increasing population density and learning range promote a gradual shift from cooperation to hitchhiking strategy among operators, while an expanded migratory range fosters the formation of stable spatial clusters by operators choosing the cooperation strategy. This research offers important insights for improving the operational capabilities of charging operators within charging platforms, fostering the healthy development of charging platforms and markets, and realizing the construction objectives of new infrastructure projects. Reference | Related Articles | Metrics