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30 November 2015, Volume 27 Issue 11 Previous Issue    Next Issue

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The Inverted U-shaped Curve between Chinese Urban-Rural Income Inequality and Urbanization Rate Yang Senping, Tang Fenfen, Wu Xu 2015, 27 (11):  3-10.  Abstract ( 272 )   PDF (1386KB) ( 1835 )   Practitioners and theorists have concerned how the urbanization rate influences the urban-rural inequality in China, so this study establishes an economic theory model between the Theil index and the urbanization rate under the hypothesis that the whole society consists of urban sector and rural sector. With the Theil index as the measure indicator of the urban-rural inequality in China, this paper reaches the conclusion that there exists an inverted U-shaped curve relationship and analyses specifically the conclusion in the framework of the maximizing utility; then, the paper makes an empirical analysis after computing the Theil index and the urbanization rate through integrating the time series data and provincial panel data of 1995-2012, and draws the same conclusion between an empirical analysis and the theoretical analysis. In short, this study analyzes the inverted U-shaped curve between the urbanization rate and the Chinese urban-rural inequality from both theoretical and empirical perspectives in order to prove that taking a new urbanization path of development to reduce the Chinese urban-rural inequality is an inevitable choice. References | Related Articles | Metrics

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An Empirical Study on the Effect of China's Institutional Structure on Economic Efficiency Zhu Hao, Fu Qiang, Wei Qi 2015, 27 (11):  11-20.  Abstract ( 185 )   PDF (1209KB) ( 699 )   In recent years, the system reform has widely attracted economic researchers' attention, especially its effects on economic transformation and upgrading. Based on China's basic institutional structure of "economic decentralization and political centralization", this paper applies both fiscal decentralization and promotion tournament into the stochastic frontier empirical model based on the C-D production function, completely analyzes the impact of this unique China institution design on the technical efficiency of economic development by using provincial panel data from 1985 to 2010. This study finds that:the economic growth efficiency is at a medium level and significantly different between regions, the economic growth efficiency of eastern, central and western China tends decreasing from east to west; China's economic growth is based mainly on capital-drivers, and the contribution of labor input is lower; both fiscal decentralization and promotion tournament have a significant positive role in promoting economic growth efficiency which mean the institutional design of "economic decentralization and political centralization" is an effective governance model. Finally, this paper puts forward some suggestions to system reform and "top-level design". References | Related Articles | Metrics

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Multi-channel Common Volatility Spillover from Global Main Equity Markets to Chinese Equity Markets——Based on the CSI Industry Indices during the European Debt Crisis Perspective Sumuya, Guo Chonghui 2015, 27 (11):  21-32,95.  Abstract ( 179 )   PDF (2072KB) ( 861 )   In this paper, multi-channel common volatility spillover model is proposed based on spectral clustering, independent component analysis, GARCH and VAR. The model is used to analyze multi-channel common volatility spillover from global main equity markets to Chinese equity markets based on the CSI industry indices data during the European sovereign debt crisis. Empirical research shows that volatility of several CSI industry indices are affected by global main equity markets via multi-channels during the European sovereign debt crisis, and the volatility spillover takes the characteristic of aggregation. References | Related Articles | Metrics

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Interactive Development of Port Infrastructure and Port City Economy Si Zengchuo 2015, 27 (11):  33-43.  Abstract ( 287 )   PDF (1501KB) ( 2051 )   The interactive development of port infrastructure and port city economy is an important guarantee for promoting sustainable and rapid economy development of a region. Firstly, this paper studies the quantitative relationship of the interactive development of port infrastructure and port city economy based on the case of Lianyungang port and Rizhao port. The results indicate that there is a closer correlation between port city economy and port infrastructure, the economy of the port city in which port infrastructure constructed more quickly grows more rapidly, the port infrastructure-port city economy interactive development systems are distinct between different port cities. In the port infrastructure-port city economy interactive development system, port economy plays an important role of the node, the interface, the carrier, the hub, and the vinculum. Then, this paper analyzes the new meanings of the interactive development of port infrastructure and port city economy under the background of port infrastructure intelligent development. The interactive development of intelligent port infrastructure, intelligent port economy, and intelligent port city economy is a new mechanism of the interactive development of port infrastructure and port city economy. References | Related Articles | Metrics

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Financial Ecology, Economic Growth and Regional Development Difference:Based on Coupling Analysis of China's Provinces Lu Jin, Zhu Shunjie 2015, 27 (11):  44-56.  Abstract ( 165 )   PDF (1428KB) ( 839 )   By employing the index system of financial ecology and economic growth, this paper studies the relationship between 31 provinces in China through coupling model. Then it makes a tentative analysis on the patterns of spatial agglomeration. The result shows that financial ecology and economic growth tend evolving in a coordinative way, but the coupling degree between them exhibits clear regional variations, with the eastern region being the highest. The patterns of spatial agglomeration in coupling degree verify the above characteristics. References | Related Articles | Metrics

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Entrepreneurial Orientation, Entrepreneurial Bricolage and New Firm Performance:Empirical Research of a Moderating Effect Model Zhu Zhenduo 2015, 27 (11):  57-65.  Abstract ( 371 )   PDF (1209KB) ( 1812 )   The resource is one of the most important internal factors to the success of new firms, and lack of resources can be seen as perhaps the most vital constraint of new firm's construct and growth. However, it is very difficult for a new firm to acquire external resources, because of lacking performance records and newness. Therefore, one of the successful paths for breaking resource constraints in a new venture is entrepreneurial bricolage. And bricolage provides a new theoretical perspective for breaking resource constraints of new firms, but it is still unclear what factors will stimulate bricolage behavior. Besides, other factors among entrepreneurial bricolage and entrepreneurial performance are not clear either. Aiming to decrease this theory gap, this paper constructs a theory model among entrepreneurial orientation, entrepreneurial bricolage, and the new firm performance. The data are coming from 212 new firms. The empirical results show that:the entrepreneurial bricolage has a significantly positive relationship with new firm financial and growth performance, entrepreneurial orientation has positive impact on entrepreneurial bricolage, and at the same time, the entrepreneurial orientation positively moderates the relationship between entrepreneurial bricolage and new firm financial and growth performance. References | Related Articles | Metrics

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Why So Many Faculty Patents Are Assigned to Outside of University? Chen Qiang, Chang Xuhua 2015, 27 (11):  66-74.  Abstract ( 271 )   PDF (1165KB) ( 1116 )   Recent researches have explored the issue of faculty patent assignment in the process of university technology transfer. However, there are few empirical studies that examine the real picture of faculty patent assignment in Chinese universities. This paper aims to narrow this gap by investigating the faculty patent disclosure and assignment in top 35 Chinese universities that applied for patent. In a sample of 28864 patents with university faculties as inventors in three different schools from 1985 to 2012, 14.31% are not solely assigned to universities, but to private firms, joint universities and firms, or individuals. In this paper we correlate the faculty assignment to patent and inventor characteristics, university policy and external environment. The empirical result shows that faculty patents, which have more patent claims or co-inventors, will be more likely to be assigned to university, and the probability of university assignment increases with faculties' applied patents. The inventor share of licensing revenue is positively related to faculty's patent disclosure. More intellectual eminence of universities or higher competiveness of cities also could increase the likelihood of outside assignment. Lastly, this paper provides new insights as well as operational policy implications for China's university policy makers. References | Related Articles | Metrics

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Social Commerce Research:Review and Future Direction Tao Xiaobo, Yang Xuecheng, Xu Yan 2015, 27 (11):  75-85.  Abstract ( 235 )   PDF (1271KB) ( 1523 )   This paper develops the theme framework of research for social commerce based on existing literatures, analyzes the research hotspots of this field and the research main thoughts presented under the theme framework, and expects the future research directions. Research conclusions:firstly, the four connotative elements are:social media, interpersonal interaction behaviors, business intention and information flow. Secondly, the theme framework of research for social commerce consists of three levels:single element, interactivity among elements and matching inside elements. Thirdly, future research on single element level can consider the issues such as the sociality's role in customers' participation in customization actions under Chinese context, design and implementation of social commerce in respect of business model, increase of the utilization efficiency of big data as well as construction of cloud computing infrastructure and its application etc; future research on interactivity level among elements can consider the issues such as collaborative evolvement of big data and cloud computing as well as collaborative evolvement of business model and big data, etc; future research on matching level inside elements can consider the issues such as matching problems between business model construction and the basic conditions of enterprises. References | Related Articles | Metrics

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Empirical Study on Intention of User Content Dissemination Behavior in Network Video Services Hou Delin, Zhao Liping, Zhang Xing, Xia Huosong 2015, 27 (11):  86-95.  Abstract ( 246 )   PDF (1192KB) ( 1075 )   The dissemination behavior of network users for the video information will largely promote and disseminate the popularity of the video website and its services, and it can also greatly promote the diffusion and exchange of information and knowledge that is contained in the video content, which is conducive to the progress of society and civilization. Based on the theory of the internet word-of-mouth dissemination, this paper constructs the intention model the content dissemination behaviors of network video service users. Through the online questionnaire survey of Youku.com users and the social survey in the form of printing paper, 242 valid samples are obtained. The data obtained is processed by the PCA factor and the reliability analysis, and the CFA and path analysis of structural equation model are also used in this paper. This paper shows that the services platform support, the concern for others, the social benefits, the video quality, and the positive self-improvement have a significant effect on the content dissemination behavior intention of network video users, and among them, the impact of positive self-improvement is the most significant, but helping-the-company factor is not significant. References | Related Articles | Metrics

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The Development of Informal Mentoring and Its Influence on Employee Early Career Xu Jie, Liang Jian 2015, 27 (11):  96-106.  Abstract ( 228 )   PDF (1240KB) ( 871 )   Mentoring is defined as a personal relationship between a more experienced senior employee(mentor) and a less experienced junior one(protégé) in which the mentor provides support, direction, and feedback regarding the protégé's career plans and personal development. Using a sample of 174 junior employees in China, we examine the role of proactive personality in the receipt of different forms of early career informal mentoring, the mediating roles of networking and voice behaviors between this relationship, and the differential relationships that different functions of informal mentoring(i.e., psychosocial mentoring, vocational mentoring, protection and guidance) have with subjective and objective career success. Structural equation modeling results indicate that proactive personality is positively related to both psychosocial and vocational mentoring, and that the relationships are mediated by networking and voice behaviors. Vocational mentoring is positively related to both subjective and objective career success. None of the other forms of mentoring is related to career success. At the end, we discuss implications for mentoring theories and research, as well as the management of the Chinese work force. We also provide some promising directions for future researches on mentoring. References | Related Articles | Metrics

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Do Multiple Large Shareholders Collude? Empirical Evidence from Chinese Family Firms' Investment Inefficiency Lyu Huaili, Li Wanli 2015, 27 (11):  107-117,191.  Abstract ( 238 )   PDF (1702KB) ( 835 )   This paper investigates the collusion of multiple large shareholders in Chinese family firms. We study the influence of shareholders' collusion on investment efficiency using the data from 2003 to 2012 of Chinese family firms. This paper finds that shareholders' collusion can lead to firm's investment inefficiency, such as overinvestment and underinvestment. Compared with underinvestment, firms with large shareholders' collusion are more prone to overinvestment. Unlike prior literature that focuses merely on the agency problems of management or controlling shareholders, this study provides evidence of the agency problem of multiple large shareholders. By examining the effect of the relation and allocation of shareholders ownership, we provide shareholders' collusion, a new theoretical perspective, to explain the investment inefficiency in Chinese family firms. References | Related Articles | Metrics

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The Effect of Top Management Team Characteristics on International Market Entry Mode:The Mediating Role of Attention Wu Jianzu, Guan Bin 2015, 27 (11):  118-131.  Abstract ( 219 )   PDF (1260KB) ( 987 )   While top management team characteristics have a key effect on the mode of a company's entry into international market, most of the existing researches pay little attention to its internal mechanism. Drawing on attention-based view of firm and analyzing date from Chinese listed manufacturing companies, we investigate the mediating effect of top management team attention on the relationship between top management team characteristics and international market entry mode decision-making. We find that a top management team including more international experienced members or better educated members focuses its attention on opportunities in the external environment, and thus chooses full-control entry mode. Meanwhile, a top management team including more senior members or longer tenure members focuses its attention on the threats in the external environment, and therefore takes shared-control entering mode. References | Related Articles | Metrics

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A Self-Determination Theory Perspective on the Psychological Mechanism of New Generation's Improvisational Behavior Men Yi, Fan Yun, Ma Guimei, Yu Weina 2015, 27 (11):  132-139.  Abstract ( 243 )   PDF (1178KB) ( 1241 )   Based on the self-determination theory, focusing on changes of new generation's basic psychological needs, this study explores the influence of multilevel factors to the satisfaction of employee's psychological need when the change takes place and the decisive role of this process to improvisational behavior. And we also explore the moderating effect of individual general causality orientation on the relationship of environmental change and improvisational behavior. By revealing the psychological mechanism of employee's improvisational behavior, this study intends to provide a foundation for the organization to build a vocational development platform for the new generation. References | Related Articles | Metrics

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The Impact of Transformational Leadership on Enterprise Information Systems Learning——The Mediating Influence of Organizational Learning Culture Shao Zhen, Feng Yuqiang, Wang Tienan 2015, 27 (11):  140-150.  Abstract ( 212 )   PDF (1271KB) ( 1292 )   The impact of senior leadership on Enterprise Information Systems(EIS) Success is a research focus in the past decades. From the perspective of leadership style theory and organizational learning, this study develops a research model to examine the impact mechanism of transformational leadership style on EIS success. Data is collected from 202 top managers and their direct subordinates of 101 enterprises from Beijing, Shanghai and Shandong province. Data analysis suggests that transformational leadership is positively related with EIS exploitative and exploratory learning mediated by psychological safety, openness to opinions and participation in decision making learning culture. References | Related Articles | Metrics

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Churn Determinants of Non-remunerated Blood Donors Chen Liangyong, Ma Zujun 2015, 27 (11):  151-160.  Abstract ( 397 )   PDF (1225KB) ( 943 )   The churn of non-remunerated blood donors has become one of the major issues in China. To analyze the evolution route and mechanism of retention rate of non-remunerated blood donors, various effects on the churn behavior of non-remunerated blood donors are investigated from the perspective of system dynamics. Firstly, the influence degree of motivation retention effect, perceived risk effect and word-of-mouth effect to the churn behavior of non-remunerated blood donors is depicted quantitatively by using coefficient-based method. Secondly, prediction models for the retention rate and the retention cycle are developed and demonstrated. The results show that different types of non-remunerated blood donors have different evolution routes of retention rate owing to different retention rate after their first blood donations. Therefore, we need to adopt different kinds of corresponding strategies to increase the retention rate and retention cycle, and to enhance the loyalty of non-remunerated blood donors. References | Related Articles | Metrics

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CEO Informal Power, Formal Power and Firm Performance:Evidence from Chinese Listed Private Firms Liu Jin, Wang Xuejun, Zhang Sanbao, Ye Yunlong 2015, 27 (11):  161-169.  Abstract ( 370 )   PDF (1139KB) ( 1075 )   Using the data of listed private firms, this paper investigates the relationship between the informal power and formal power of CEOs and their effects on the firm performance respectively. The empirical study shows:(1) CEOs' informal power, such as the age of CEOs and CEO's serving in other board of directors, are positively and significantly related with their formal power;(2) we obtain an inverted U shape curve between the CEOs' formal power and firm performance. That is to say, the firm performance goes up as the CEOs' formal power increases, but after CEOs' power reaches a certain point, the firm performance decreases if CEO's formal power increases continuously. This paper enriches the connotation of Managerial Power Theory under Chinese context by probing into the relationship between the CEOs' informal power and formal power, and the investigation of relationship between CEOs' power and firm performance also provide more evidences for the Upper Echelon Theory in different culture background. Furthermore, this paper sheds some lights into the firm governance and power allocation within Chinese private firms. References | Related Articles | Metrics

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The Impact of Domain Knowledge Specific Investments on Receivers' Opportunism and Governance Mechanisms Zhou Jun, Yuan Jianxin 2015, 27 (11):  170-180.  Abstract ( 180 )   PDF (1226KB) ( 846 )   Using the sample data from 163 software outsourcing relationships, this research explores the possibly unique impact of domain knowledge specific investments(DKSIs) on the receiving firms' opportunism and the moderating effects of relational and contractual governance mechanisms by means of hierarchical linear regression. The results are as follows. Firstly, DKSIs by the software providers significantly suppress their clients' opportunism. Secondly, relational norms and contractual completeness not only positively moderate the negative relationship between DKSIs and clients' opportunism, but also have direct suppressing effects. Thirdly, contractual completeness and relational norms are complementary to each other to some extent. Lastly, contractual completeness shows stronger impact than relational norms. This study reveals the particular effect of DKSIs on the receivers' opportunism and deepens our understanding of the governing impacts of contractual completeness and relational norms. References | Related Articles | Metrics

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Research on the Relationship between Supply Chain Knowledge Sharing and Firm Performance:The Mediating and Moderating Effect of Supply Chain Agility and Environmental Dynamics Feng Changli, Zhang Mingyue, Liu Hongtao, Zhang Huizhong, He Minghai 2015, 27 (11):  181-191.  Abstract ( 304 )   PDF (1250KB) ( 1207 )   Based on the mediating and moderating effect of supply chain agility and environmental dynamics, a hypothesis model is proposed to research the mechanism between supply chain knowledge sharing and firm performance. This paper uses empirical method to investigate twelve supply chains which consist of large and medium-sized state-owned enterprises. Results show that supply chain knowledge sharing not only has a direct influence on firm performance, but also has indirect influence through the mediating effect of supply chain agility. Furthermore, environmental dynamics significantly moderates the relationship between knowledge sharing and supply chain agility, supply chain agility and firm performance; but the moderating effect of environmental dynamics on the relationship between knowledge sharing and firm performance is not so significant. References | Related Articles | Metrics

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Study on Origins of Buyer's Trust and Impact of Trust on Contract Flexibility in Supply Chain Ma Hujie, Shi Kuiran, Fan Jin 2015, 27 (11):  192-206.  Abstract ( 222 )   PDF (1675KB) ( 750 )   Based on buyer's trust, the origins of organization trust is examined and the impact of different dimensions of trust in two-stage supply chain on different dimensions of contract flexibility and the moderating effect of buyer's special investment during this process is explored. Based on the questionnaire analysis of 145 manufacturing enterprises(buyers) in Jiangsu and Shandong province, the empirical study based on the PLS-SEM method shows that institution environment has significant positive impact on contractual trust, organizational communication has significant positive impact on goodwill trust, while reputation has significant positive impact on contractual trust, competence trust and goodwill trust; organization contractual trust has significant positive impact on the flexibility in modification, goodwill trust has positive significant impact on the flexibility in modification and negative impact on flexibility in exit, while the moderating effect of special investment is only significant in the flexibility in modification for competence trust. This paper is of guiding significance for the nurture, development and sustainment of trust and for further understanding between buyer's trust and contract flexibility. References | Related Articles | Metrics

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Cognitive Shackles:From Consistency of Financial Performance to Corporate Over-investment——Evidence Based on China's Listed Companies Zhong Ma, Xu Guanghua 2015, 27 (11):  207-216.  Abstract ( 182 )   PDF (1142KB) ( 898 )   This paper aims to study the influence of heuristic bias on corporation over-investment. Based on the data of China's listed companies during 2001 to 2012, we find:(1) higher level of overinvestment exist in the corporations with consistency of historical financial performance;(2) the level of overinvestment is positively related with the length of consistency period;(3) after peeling off the influence of self-attributionbias, the heuristic bias still affect the level of over-investment robustly;(4) the effects of consistency of financial performance information on over-investment exist in companies managed both by overconfident managers and rational ones. References | Related Articles | Metrics

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Dynamic Transformation of Business Model in Strategic and Emerging Industries:A Case Study of Solar Photovoltaic Company Wu Guang, Ouyang Taohua, Yao Tang 2015, 27 (11):  217-230.  Abstract ( 160 )   PDF (1478KB) ( 1367 )   Applying single explorative case study method, this paper takes a solar photovoltaic company as a case study to explore the transformation of business model(BM) from the dynamic perspective. The study shows that:1) thetransformation of BM is organized into two processes, one is patching that is defined as remapping the BM, the other is reinventing that is defined as reshaped BM; 2) there are two reasons for the transformation:to utilize opportunities and to explore opportunities; the former is to expand related business, the latter is to expand existing business; 3) transactional BM and symbiotic BM are two main types during the periods of transformation, the focus of transactional BM is value exchange and the focus of symbiotic BM is value co-creation. On this basis, the paper constructs a dynamical transformation model of BM by matching transformation process, transformation motivations and types of BM. The paper complements the strategic and emerging industries literature, expands the dynamic study of BM in depth, and can guide the operations and practices of business management. References | Related Articles | Metrics

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Diamond Model of Business Models——A Case Study of Ping An Financial Mall Ren Xiaoxun, Qiao Han, Huang Zhiyuan, He Leping, Wang Shouyang 2015, 27 (11):  231-240.  Abstract ( 492 )   PDF (1337KB) ( 3503 )   In this paper we propose a new approach(named "diamond model approach") for analyzing a business model from(A) three levels:(1) business object,(2) business process, and(3) business performance,(B) five modules:product, stakeholder, resources integration ability, return and risk, and(C) three flows:logistics flow, cash flow, and risk flow. Through comparing it with some classic approaches for studying business models, we show this diamond model approach of business models inherits advantages of those approaches, but much more comprehensive and systematic, and particularly good at studying business models of the financial industry, which concerns about risk characters. A case study of online Ping An financial mall is made with the diamond model approach and some management insights are presented. References | Related Articles | Metrics