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    Research on Enterprise Digital Maturity Model
    Wang Hecheng, Wang Siwei, Liu Renhuai
    Management Review    2021, 33 (12): 152-162.  
    Abstract1240)      PDF (1423KB)(2494)      
    Nowadays, digital technology has gradually dominated the technological development. To catch up with this fast-growing dynamic digitalization trend, most enterprises have initialized their digital transformation, which has attracted wide attention of the society. In the process of digitalization, to seek the most adaptive solution to advance the transformation, it becomes vital for each enterprise to identify the current digitalization level of its own. Based on the analysis of the connotation and essence of digitalization and enterprise digital transformation, this paper explores the concept of enterprise digital maturity in combination with the actual needs. Then research team identifies key process areas and specific evaluation metrics through literature research and panelist review. Further, a digital maturity model (DMM) is developed. This model includes five key process areas (strategy and organization, infrastructure, business process and management digitalization, integrated integration, digital performance), 19 primary indicators and 63 secondary indicators. Compared with the current domestic and international evaluation models, this DMM can better present the changes of enterprise operational pattern and the comprehensive fusion and system application of digital technology under the digital commercial ecology. Not only can it provide researchers with insights on digital emerging phenomena, but provide methods and tools for enterprises to assess their digital integration, helping them to establish strategic goals and implementing programs for digital transformation.
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    What Factors Influence Consumers' Online Purchasing Decisions?——Customer Perceived Value Drivers
    Li Zongwei, Zhang Yanhui, Luan Dongqing
       2017, 29 (8): 136-146.  
    Abstract1018)      PDF (2217KB)(5551)      

    What factors are influential to consumers' online purchases? This paper points out that customer perceived value includes product perceived value, service perceived value and social value perception under the online shopping mode, constructs an online purchase model and collects Taobao's massive transaction data by focusing on three factors:users' reviews, product features and sellers' types. The large sample analysis reveals several positive factors including the length of users' review, product sales volume, credit ratings of seller, seller's DSR service score, and existing period of the shop. In particular, for experience products, the numbers of reviews, price, and sales have a larger effect on consumers' willingness to buy.

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    An Empirical Study on the Impact of Online Reviews on Consumers' Purchasing Intention
    Du Xuemei, Ding Jingyu, Xie Zhihong, Lei Lifang
       2016, 28 (3): 173-183.  
    Abstract1201)      PDF (1331KB)(8177)      

    Online word-of-mouth (WOM) has been playing an increasingly important role in consumers' purchasing decisions for the reason that Internet has greatly amplified the influence of WOM on consumers. This paper researches the online review which is one of the main forms of online WOM. It firstly develops a conceptual model for online reviews' power on consumers' purchasing intention which includes the receiver professional ability as the control factor, then raises corresponding hypotheses. Finally, the model and the hypotheses are tested and revised by empirical methods. The results of this paper show factors of functional value including the quantity, the quality and the titer of the comments affect consumers' purchasing intention positively. Besides, factors of receiver's mental representations including perceived risk, involvement and trust propensity have positive influence on online reviews' power on consumers' purchasing intention. Meantime, the receiver professional ability adjusts the relationships between the quality as well as the quantity of the comments and consumers' purchasing intention, but not the relationship between perceived risk and consumers' purchasing intention.

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    ChatGPT+Finance: Eight Noteworthy Research Directions and Issues
    Wang Shouyang, Li Mingchen, Yang Kun, Lin Wencan, Jiang Shangrong, Wei Yunjie
    Management Review    2023, 35 (4): 3-11.  
    Abstract1111)      PDF (1225KB)(1147)      
    The emergence of ChatGPT marks the beginning of a new revolution in artificial intelligence. The innovative generative AI technology represented by ChatGPT will significantly impact the research paradigm of economics and the systemic ecology of the financial industry. This paper outlines the developmental trajectory of ChatGPT, analyzes its applications and future prospects in the financial field, and discusses the potential impact and regulatory risks. Undoubtedly, ChatGPT will bring many significant challenges to the field of finance. To promote high-quality development in China’s financial industry and related researches, this paper proposes eight noteworthy research directions and issues for the academic community.
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    Research on the Influence of Personalized Intelligent Recommendation on Consumers’ Online Impulse Buying Intention
    Fan Wenfang, Wang Qian
    Management Review    2022, 34 (12): 146-156,194.  
    Abstract624)      PDF (1390KB)(695)      
    With the rapid development of mobile internet era and the continuous application of high-tech such as artificial intelligence, personalized intelligent recommendation has become an important marketing method for e-commerce platform enterprises to meet consumers’ diversified preferences. Practice shows that personalized recommendation has an important impact on consumers’ buying behavior, and it helps to improve the performance of e-commerce platforms. Based on the flow experience theory and the perceived value theory, this paper discusses the influence of personalized intelligent recommendation on consumers’ online impulse purchase intention, and this mechanism of flow experience, perceived practical value and quality of online reviews. Through the investigation of 548 e-commerce platform consumers, the empirical study finds that personalized intelligent recommendation and its related dimensions (information presentation, system interaction and community influence) positively affect consumers’ online impulse purchase intention. Flow experience and perceived practical value mediate the positive relationship between personalized intelligent recommendation and consumers’ online impulse purchase intention. The quality of online reviews plays a moderating role in the impact of personalized intelligent recommendation on consumers’ online impulse purchase intention. The higher the quality of online reviews, the stronger the positive impact of personalized intelligent recommendation on consumers’ impulse purchase intention.
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    Risk Analysis for Urban Transit——An Empirical Study on the Beijing Rail Transit System
    Liu Fuze, Li Juan, Fan Bosong, Wang Jue
    Management Review    2020, 32 (7): 217-225.  
    Abstract252)      PDF (2547KB)(739)      
    Rail transit is a transportation system that provides urban public passenger services. Its risk management is an arduous and complicated system engineering. In order to ensure the safety of urban rail transit system operation and improve the ability of management departments to respond to emergencies, it is necessary to evaluate the risk status of rail transit operations and formulate corresponding control measures from the aspects of comprehensive application of technology and scientific decision-making. Based on the TEI@I methodology, this paper proposes a delay duration prediction model. The delay time is predicted by establishing a Bayesian network model. The statistical distribution model such as lognormal, Weibull and Gamma distribution is used to verify the prediction result of delay time. Based on the results, a prediction model of subway delay time is constructed. This statistical analysis method is used to calculate the probability of occurrence of the risk event, so as to analyze the risk status of the rail transit system. An empirical study on the Beijing rail transit system shows that the urban rail transit system in Beijing has a good operational status and the possibility of risk events is small. Among all types of risk events, driving accidents are most likely to occur, usually caused by a variety of factors, and the relevant departments should pay enough attention.
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    Macroeconomic Conditions and Corporate Capital Structure: Empirical Evidence from Chinese Listed Companies
    Liu Shuntong, Yang Boyu, Wang Chenghao, Hu Yi
    Management Review    2023, 35 (10): 22-32.  
    Abstract150)      PDF (1243KB)(497)      
    Macroeconomic conditions are vital factors affecting the optimal capital structure of a company. Based on the economic situation of China, this paper systematically analyzes the impact of changes in macroeconomic conditions on corporate capital structure, and adds the shadow banking factor into the research framework for the first time. Using the financial data of listed companies, we construct corresponding static and partial dynamic adjustment models for analysis, and focus on the impact of shadow banking on corporate capital structure and adjustment speed. The empirical results can be summarized as follows. First, total market value and profitability are negatively correlated with book leverage, and book-to-market value ratio, capital expenditure and total non-current assets are positively correlated with book leverage. The influence of total assets is heterogeneous, which pushes up the book leverage of state-owned enterprises and reduces the book leverage of private enterprises. Second, the growth rate of industrial added value and the total market value of listed companies reduce the level of capital structure while inflation increases the level of capital structure. The growth of shadow banking reduces the level of capital structure, highlighting the structural contradictions in China’s financial system. Third, the capital structure adjustment cost and the difference in asset liquidity cause the difference between the adjustment of book leverage and market leverage, in which market leverage adjustment is faster. Fourth, shadow banking reduces the optimal corporate capital structure and positively regulates the speed of capital structure adjustment.
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    An Analysis on Business Model of Video Website Based on Business Model Feedback System——A Case Study of Netflix and iQIYI
    Rao Jiayi, Xu Dawei, Qiao Han, Wang Shouyang
       2017, 29 (2): 245-254.  
    Abstract1548)      PDF (1229KB)(7882)      
    With the rapid popularization of Internet, the ecological structure of the online video industry has undergone profound changes. In this paper, we propose a business model feedback system, which includes explicit knowledge of business model consisting of value proposition, business system and profit model, and tacit knowledge of business model composed of key resource capability and external environment. Using this model, this paper makes a systematic analysis and in-depth comparison of business model between Netflix and iQIYI, the representative leaders in the video website industry, and finds that there is a feedback effect between explicit knowledge and tacit knowledge of business model. Based on this finding, we put forward the corresponding enlightenment and suggestion to the business model of enterprise and the development of online video industry.
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    Power Distance: A Literature Review and Prospect
    Bao Yan, Liao Jianqiao
       2019, 31 (3): 178-192.  
    Abstract1214)      PDF (1294KB)(2889)      

    Power distance defined as the extent to which a society accepts the fact that power in institutions and organizations is distributed unequally. With the deepening of economic globalization and the rapid development of China's market economy, related researches have gradually increased in the theoretical academic circles, but many questions, shortages and arguments still exist and need to be discussed. Based on a literature research, this paper systematically sorts out and integrates the research findings of power distance with regard to origins and concepts, structure and measurement, influencing factors and outcome variables.Furthermore, it explores the mediators/moderators and theoretical basis of existing researches, and points out future directions in power distance.

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    Multiple Driving Paths and Performance of Green Supplier Integration: A Research Based on the Configurational Perspective
    Zhang Qiansong, Cheng Jiazhen, Feng Taiwen, Du Yunzhou
    Management Review    2023, 35 (7): 323-338.  
    Abstract207)      PDF (2543KB)(392)      
    Since 2010, China has become the world's largest industrial producer. However, the traditional energy-consuming and high- polluting manufacturing development model that has brought about increasingly obvious environmental issues is no longer able to meet the requirements of green transformation and high-quality development. Green supplier integration is a significant way to realize green transformation and improve the sustainable competitiveness of firms, and it is necessary to fully consider the matching role of technology, organization and environment to improve the level of green supplier integration. Accordingly, the multiple driving paths and performance of green supplier integration are important issues to be addressed. Based on the TOE framework and configurational perspective, we conduct a configuration analysis on 317 Chinese manufacturing firms and a typical case analysis on configuration solutions by integrating fuzzy set qualitative comparative analysis (fsQCA) and propensity score matching (PSM) methods to explore the differential driving path of supplier green integration and its effect on firm performance. The findings are as follows:(1) Any single factor does not constitute the necessary condition of high green supplier integration, but green training and development play a universal role in producing high green supplier integration; (2) There are four driving paths that constitute high green supplier integration, namely, big data analysis capability and green human resource-driven path under the dual culture of flexibility and control, big data analysis capability and green human resource-driven path under control culture, big data analysis capability and strategic green human resource-driven path under control culture-dominant, incremental big data analysis capability and green human resource-driven path under flexibility culture; (3) The absence of big data analysis capability and green human resource management is the key reason for non-high green supplier integration; (4) High green supplier integration generated by four driving paths has a differential impact on firm performance. The research conclusions can help better understand the complex interaction among multiple factors behind green supplier integration of China's manufacturing industry, and bring practical enlightenment for firm performance management and high-quality development.
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    Business Model Updating and Continuous Development: The Case of McDonald's
    Tan Zhijia, Wei Wei, Zhu Wuxiang
       2016, 28 (2): 219-229.  
    Abstract626)      PDF (3580KB)(3247)      

    This paper discusses the trading subjects and their resource capabilities, ways of transaction, profit model, etc. of the McDonald's case from the Wei-Zhu Business Model to analyze reasons for the success of McDonald's franchise mode. This paper suggests that the ability of the company to update its business model based on its resource capability and the transaction value is an important reason for its continuous development and the increase of its investment value.

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    Analysis of Application of WSR Methodology to Operational Commanding
    Li Fuxin, Tang Xijin, Wang Wei
    Management Review    2021, 33 (5): 123-133.  
    Abstract252)      PDF (2663KB)(801)      
    After 25 years of continuous development, the application of WSR methodology (Wuli-Shili-Renli, referring to a methodology based on physics, reason and people) has been expanded to many fields. In order to further expand the application of WSR methodology and make the understanding of operational commanding more scientific, systematic and integrated, this paper comes up with a three-dimensional system of operational commanding WSR, and theoretically discusses the system based on the previous war cases at home and abroad. Based on the three classic working processes of WSR methodology, a “13-step” method of operational commanding activities is put forward. According to the feedback of experts, iView software is used to verify and improve the WSR three-dimensional system of operational commanding.
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    The Influence Mechanism and Data Test of Enterprise ESG Performance on Earnings Sustainability
    Xi Longsheng, Zhao Hui
    Management Review    2022, 34 (9): 313-326.  
    Abstract600)      PDF (1343KB)(545)      
    ESG is highly consistent with China’s new development concept, but whether ESG performance has a positive impact on enterprises’ sustainable development, especially earnings persistence, has not reached a definite conclusion.By analyzing the mediating effect of financing constraint, enterprise risk and green innovation, this paper studies the mechanism of how ESG performance influences earnings sustainability, and empirically examines the positive impact of ESG performance on earnings sustainability by taking China’s A-share listed companies from 2013 to 2021 as research samples.The research finds that the better the ESG performance is, the stronger the earnings sustainability is. The mechanism analysis shows that good ESG performance can help enterprises achieve earnings sustainability by alleviating financing constraints, reducing enterprise risks and promoting green innovation. The heterogeneity analysis shows that the promotion effect of ESG performance on earnings persistence is more significant in enterprises in non-polluting industries, state-owned enterprises and enterprises in highly market-oriented regions.This paper expands the research on the economic consequences of ESG performance, which has significant enlightenment for enterprises and investors to attach importance to ESG performance and government departments to improve the ESG information disclosure system.
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    The Relationship among Proactive Personality, Knowledge Sharing and Employee's Innovation Behavior
    Zhang Zhengang, Yu Chuanpeng, Li Yunjian
       2016, 28 (4): 123-133.  
    Abstract1048)      PDF (1110KB)(4917)      

    Based on the two cognitive perspectives:individual and situational characteristic, this paper tests the relationship among proactive personality, knowledge sharing and employee's innovation behavior using multiple regression analysis of linear models through 199 staffs' questionnaire surveys. In addition, based on trait activation theory, innovation climate's moderating effect between the relationship of proactive personality with knowledge sharing and employee's innovation behavior is also tested. Results of the regression analyses suggest that proactive personality has a positive impact on the employee's innovation behavior, and knowledge sharing has a moderating role between proactive personality and employee's innovation behavior. The results also show that innovation climate negatively moderates the relationship of proactive personality with knowledge sharing and employee's innovation behavior. Higher innovation climate weakens the proactive personality's positive influence to knowledge sharing and employee's innovation behavior. These results further support the basic idea of the trait activation theory. Therefore, creating a good innovation climate to make up the "inadequate" of employee's initiative is a feasible path for managers.

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    The Concept, Measurement, and Mechanism of Shared Leadership
    Hao Po, Long Lirong
       2017, 29 (5): 87-101.  
    Abstract364)      PDF (1375KB)(2490)      

    Due to the flat structures and the prevalence of team-based management in organizations, shared leadership which is horizontal, bottom-up and distributed among team members, has drawn much attention of researchers and practitioners. We first make clear the origins, concepts of shared leadership, its difference with other related concepts, and its measurement by systematically reviewing the existing literature of shared leadership. Then we clarify the fundamental theories about how shared leadership forms and summarize its empirical studies. On this basis, we construct a theoretical model of shared leadership. Lastly, we summarize the managerial implications, limitations and future directions of shared leadership.

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    The Role of Joining Industry Associations in Improving the Survival of Member Enterprises: Latest Evidence from Online Lending Industry
    Hou Xinyu, Li Guangzhong, Zhang Shuai
    Management Review    2023, 35 (7): 3-13.  
    Abstract239)      PDF (1270KB)(297)      
    To analyze the effectiveness of the reputation mechanism in a typical information asymmetric market of peer-to-peer online lending, this paper develops a three-party evolutionary game model including lending platforms, industry associations and investors. Regarding joining an industry association as a reputation signal, it focuses on analyzing the evolutionary stabilization strategy of the system. Empirical data are collected to verify the reputation-enhancing effect of the industry association. The findings suggest that the effectiveness of reputation mechanism in online lending platforms depends on the certification and screening carried out by third-party institutions, i.e., the active screening by industry associations directly affects the proportion of online lending platforms operating in a self-regulatory manner as well as the survival of the group, and serves as an effective mechanism to achieve an equilibrium separation of high- and low-risk platforms. The empirical results of the coarsened exact matching method reveal that joining industry associations reflects a certain amount of reputation information, which indeed helps platforms strengthen their reputation and thus directly improves the survival of lending platforms. The intermediary effect model supports that the industry association enables the function of social capital empowerment and motivates platforms to apply for and obtain fund depository provided by commercial banks.
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    The Impact of E-commerce Live Streaming on Consumers’ Purchase Intention: A Study Based on Grounded Theory
    Liu Luchuan, Liu Chenglin
    Management Review    2023, 35 (12): 182-189.  
    Abstract198)      PDF (1324KB)(289)      
    E-commerce live streaming has brought consumers a new shopping experience. Studying the mechanism of how e-commerce live streaming influences on consumers' purchase intention is of great significance to improve the quality of live streaming service and promote the healthy development of e-commerce live streaming business ecology. Through in-depth interviews with 57 respondents, this study constructs the mechanism model of the influence of e-commerce live streaming on consumers' purchase intention. The results show that, in the context of e-commerce live streaming, commodity factors, streamer factors and live streaming context factors affect consumers' engagement in e-commerce live streaming, and on this basis, they will ultimately affect consumers' purchase intention by influencing consumers' cognitive attitude and emotional attitude; At the same time, consumers' personal internal factors play a moderating role in the influence of commodity factors, streamer factors and live streaming context on consumers' engagement in live streaming.
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    Business Model Innovation of We Media Based on Community Economy——A Case Study of “LuoJi Thought”
    Wu Chao, Rao Jiayi, Qiao Han, Hu Yi, Wang Shouyang
       2017, 29 (4): 255-263.  
    Abstract674)      PDF (1636KB)(4219)      

    Since 2012, the We media industry rises rapidly in China and its business models show a flourishing scene. Based on the theory of community economy, this paper analyzes the logic of We media rising, and selects “LuoJi Thought” as a typical case. The iceberg dynamic feedback model is established to study its three business model innovations in order to reveal the key elements of the great commercial success and provide management inspiration for the business innovation in the media industry. The research shows that the environment factor is the tacit knowledge and the driving force of business model innovation; the core of the future business society is the community, and the community economy has gradually become a trend; entrepreneurs' personal charisma plays a key role in the early stages, and the latter relies on the organizational management and the maturity of the business community.

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    Research on the Construction Mechanism of Data-driven Dynamic Capabilities of Traditional Manufacturing Enterprises: Based on the Case Study of Digital Practice of Wahaha Group Co., Ltd.
    Chen Yu, Chen Yantai, Xie Fuji
    Management Review    2023, 35 (10): 340-352.  
    Abstract201)      PDF (1421KB)(276)      
    Traditional manufacturing enterprises are facing both new opportunities and challenges in the digital environment. How to build data-driven dynamic capabilities is the key to the success of traditional enterprise transformation. Taking Hangzhou Wahaha Group Co., Ltd. as a case study, this paper discusses the construction mechanism of data-driven dynamic capabilities. There are some main findings as follows. First, the data-driven dynamic capabilities of traditional manufacturing enterprises are composed of four dimensions: data-driven opportunity perception capability, data-driven industrial chain synergy capability, data-driven organizational transformation capability and data-driven value ecosystem capability. Second, these four capabilities can be subdivided into 13 main categories. Third, these four capabilities are progressive and mutually reinforcing. Among them, data-driven opportunity perception capability is the basis and prerequisite. Data-driven industrial chain synergy capability is the key and means of implementation. Data-driven organizational transformation capability is the guarantee and the supporting condition. Data-driven value ecosystem capability is leverage, with an amplification effect. The contribution of the paper is that a four-dimensional analysis framework is proposed, then the sources and interaction mechanisms of different dimensions are deeply analyzed. The conclusion of the paper has implications for how traditional manufacturing enterprises should carry out digitalization and transform digital resources into their data-driven dynamic capabilities.
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    Substitution or Creation: How Intelligentization Affects China's Manufacturing Employment
    Cao Yaru, Liu Jun, Shao Jun
    Management Review    2023, 35 (9): 37-49.  
    Abstract163)      PDF (1299KB)(274)      
    This paper analyzes the mechanism of how intelligentization impacts the employment of China's manufacturing industry, and based on China's 2010-2019 provincial panel data, empirically tests the impact of intelligentization on the employment and skill structure of manufacturing industry. The results show that there is a "U-shaped" relationship between intelligentization and total employment in China's manufacturing. When the level of intelligentization is low, the substitution of employment will be the main factor, but the higher level of intelligentization will significantly promote employment growth. The employment creation effect is achieved through intermediate channels such as extending industrial chain and promoting technological innovation. Among them, the mediating effect of industrial chain extension is particularly obvious. Intelligentization is conducive to advanced manufacturing employment structure. With the increase in intelligentization, the demand for high-skilled and medium-skilled labor will increase, while the demand for low-skilled labor will decline. There is regional heterogeneity in the impact of intelligentization on manufacturing employment and its skill structure. To cope with the differential impact of intelligentization on manufacturing employment, we should further improve the quality of higher education and vocational education, optimize the content and model of skills training, formulate differentiated regional policies, and guide intelligentization to promote high-quality manufacturing employment.
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