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    30 December 2015, Volume 27 Issue 12 Previous Issue    Next Issue

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    Effectiveness of the Coordination of Energy Conservation and Emission Reduction Policies in China:from 1997 to 2011
    Zhang Guoxing, Gao Xiulin, Wang Yingluo, Guo Ju
    2015, 27 (12):  3-17. 
    Abstract ( 287 )   PDF (1316KB) ( 977 )  

    On the basis of collecting energy conservation and emission reduction policies in China from 1997 to 2011, this paper quantifies these policies from three dimensions of policy efforts, policy measures and policy objectives, studies the effectiveness of both the energy conservation and emission reduction policy measures' coordination and the policy objectives' coordination with quantized data, and also analyzes the different policy measures coordination of energy conservation and emission reduction policies, the situation of policy objective coordination and the government's usage of policy coordination in China. The analysis results show that:in our energy conservation and emission reduction policies, different policy measures and policy objectives coordinate well, but the situation of different coordination methods is obviously different, the effect of different policy measures' coordination and policy objectives' coordination on the result of energy conservation and emission reduction has a significant discrepancy in orientation, and the government's usage of different policy measures' coordination and different policy objectives' coordination needs to be further improved. In the end, this paper puts forwards some relevant suggestion on the improvement of relevant policies and the usage of policy measures' coordination and policy objectives' coordination, etc.

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    Impacts of Initial Quota Allocation on Regional Macro-economy and Industry Competitiveness
    Wu Jie, Fan Ying, Xia Yan, Liu Jingyu
    2015, 27 (12):  18-26. 
    Abstract ( 236 )   PDF (1456KB) ( 870 )  

    Emissions trading is an important means to combat climate change in China and some carbon trading pilots have made positive progress, which aim to gradually form a unified national carbon markets. Initial quota allocation is a key point in emission trading scheme design. Through the establishment of a China multi-regional Energy-Environment-Economy CGE model-CE3MS which is combined with an emission trading module, this paper depicts the decision-making optimization of trading sectors in each region and analyzes regional macro-economic effects and industrial impacts of carbon market under different allocations. The research shows that in the early period of unified carbon market in China, a hybrid allocation of free allocation in energy sectors and full auction in energy-intensive sectors is the optimal way.

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    The Influencing Factors behind Zero Recovery and Non-zero Recovery of Non-performing Loans
    Chen Muzi, Liu Xiaofang, Yang Xiaoguang
    2015, 27 (12):  27-38. 
    Abstract ( 274 )   PDF (2131KB) ( 933 )  

    Dealing with non-performing assets is not only an important daily work for financial institutions, but also the only way for the government and financial institutions to survive from financial distresses. Based on Loss Metrics database with respect to the non-performing loans which have U shaped asymmetric Beta distribution for loss given default, we study the influencing factors of zero recovery rate and non-zero recovery rate. We construct a discrimination model for zero-recovery rate and the regression model for non-zero recovery rate, in order to identify the influencing factors and estimate their contributions to models. The results indicate that there are a lot of differences in factors and contributions between the two models. The important factors of discrimination model include five-level classification of loans, whether the debtors are in a business standstill or not and whether the region of debtors is economically backward or not. The important factors of regression model include region, operating conditions, the size of loans and methods for loan transferring. The results not only reveal the laws behind the recovery of non-performing loans, but also improve the efficiency of dealing with non-performing loans.

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    The Private Equity Reputation, Ownership and IPO Equity Duration
    Hu Zhiying, Wu Xiancong, Guo Jianzhu
    2015, 27 (12):  39-49. 
    Abstract ( 325 )   PDF (1253KB) ( 828 )  

    Inorder to analyze the motivation of private equity participation in the IPO under the current institutional background, this paper selects the equity duration of private equity before IPO as the proxy of the behavior motive, investigates the characteristics of private equity on equity duration. We find that the lower private equity reputation leads to shorter equity duration before IPO, which is in conformity with grandstanding hypothesis, the government-backed private equity tend to have longer duration, but the effect is not significant. And further analysis shows that the longer equity duration before IPO, the better performance after IPO, but the positive effects of duration on the performance is weakened after the expiration of lockup period.

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    Research on P2P-Based C2C Credit Evaluation Method
    Zhang Chaohui, Liang Hui, Chu Meiling
    2015, 27 (12):  50-56. 
    Abstract ( 201 )   PDF (1537KB) ( 1035 )  

    With the promotion and popularization of C2C shopping method, how toprotect fair trade from being hurt by malicious comments on needs to be addressed. Currently some credit evaluation mechanisms and techniques have come into being in China, but problems exist in fairness, authenticity and comprehensiveness. This paper proposes an improved credit evaluation model based on P2P model. In view of the fraud, conspiracy, slander and other problems that hide behind malicious comments, we select MATLAB as simulation tool to make a simulation experiment and a comparative analysis. The result proves that the new model is effective in resisting malicious attack by malicious buyers, resisting collusive behavior of malicious traders or teamers and determining whether a trader is honest.

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    Research on Allocating Land Value-added Income Allocation in Pudong Land Reserve System Using Bootstrap-Elman Neural Network
    He Fang, Wang Xiaochuan, Zhang Hao
    2015, 27 (12):  57-64. 
    Abstract ( 339 )   PDF (1430KB) ( 941 )  

    In the context of land storage and urban redevelopment, it is critical to purchase, store and make better use of inefficient urban land usage and the key lies in how to reasonably allocate the income from land value addition. In this paper, we first analyze the land value-added benefit distribution mechanism and put forward the idea that the value addition should satisfy the priority of payment of public and private interests and the ladder allocation method based on net income. Mathematical models are adopted for quantitative researches on Pudong district land increment income. The results show that the original property user shared ratio is 56.5% in the first rung while 45.6% in the second rung which is in line with the principal the government share higher proportion in upper rung. Priority of payment and ladder allocation method can realize the unification of fairness and efficiency, deepen the land value-added income allocation mechanism in theory and provide a basis for the government to innovate the revenue allocation in practice.

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    The Relationship among Governance Mechanisms of Entrepreneurial Network, Network Structure and New Venture Performance
    Han Wei, Yang Wanyu
    2015, 27 (12):  65-79. 
    Abstract ( 259 )   PDF (1391KB) ( 876 )  

    Governance plays a fundamental role in operation of network organizations, which is connected with their operational quality and synergy effect. Existing researches have proved that there is direct relationship between network structure and new venture performance. But few of them have paid attention to the influence of governance. In fact, it is network management not the structure that matters to new venture performance. This paper tests the main effect of governance mechanism and new venture performance, and the moderating effect of tie strength and network scale. It shows that learning has positive effect on new venture performance and tie strength can moderate this relationship. Although contract and trust do not have positive effect on new venture performance statistically, their interaction may have the influence. That means the mixing governance mechanism that contains contract and trust can explain the difference of new venture performance, not their individual effect.

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    A Study of Online-shopping Opinion Leaders in the Virtual Community Based on Mass Data
    Zhang Hongliang, Zhang Chong
    2015, 27 (12):  80-87. 
    Abstract ( 205 )   PDF (1383KB) ( 999 )  

    The virtual community is an important channel for the consumers to share and obtain word-of-mouth information, the online shopping behavior of the members who are in the same virtual community can influence each other by the word-of-mouth communication. However, there are significant differences in the impaction of the different members. This study selects around 200 virtual communities (AliWangWang group) which have fifty thousand members and more than one million Taobao real transaction records, then we build network by the online interpersonal influence relationships. Finally we build the user model to evaluate the impaction of the members, identify the online shopping opinion leaders, explore the rules of communication, spreading and effecting of word of mouth. This study provides theoretical basis and practice guidance to the community marketing.

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    Antecedents and Effects of Extensive Familism Consciousness in Online Brand Community
    Zhao Jianbin, Jing Fengjie
    2015, 27 (12):  88-98. 
    Abstract ( 273 )   PDF (1256KB) ( 874 )  

    According to the idea of China's family culture and analysis of relevant literature, community members will produce extensive familism consciousness in online brand community, and the consciousness consists of two parts:sense of security and emotional belonging. Using mobile phone brand community for the study, and employing the method of structural equation modeling, this research explores antecedents and consequences of extensive familism consciousness. The results show that interaction between community members have a positive impact on sense of security, but the impact on emotional belonging is not significant; network centrality, system quality and information quality have a positive impact on sense of security and emotional belonging respectively; extensive familism consciousness has a positive impact on the level of loyalty to the community.

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    What Factors Affect Purchase Intention in Social Commerce:Based on Strong and Weak Relationship Theory
    Feng Jiao, Yao Zhong
    2015, 27 (12):  99-109. 
    Abstract ( 437 )   PDF (1256KB) ( 1249 )  

    This paper proposes a conceptual framework that utilizes the strong and weak relationship theory to explain the effect of relationship strength between users on purchase intention in social commerce. From the perspective of social media, an experimental platform of social commerce is established by us in renren.com, the paper analyzes the mediating effect of relationship strength between user-generated information and user-received information, then indirectly impacts on purchase intention with experimental method and empirical study. The results show that different relationship strength between users has different influence on user-received information and purchase intention. Especially, strong relationship between users plays a significant role for alleviating information overload problem, improving information quality and stimulating purchase intention. The study advises managers in social commerce to develop strong behavioral and emotional ties with consumers for customer relationship management and marketing management.

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    Influence of Corporate Charitable Donations on Consumer Brand Attitude:Moderating Effect of Fit and Affinity
    Yuan Haixia, Tian Hong
    2015, 27 (12):  110-119. 
    Abstract ( 285 )   PDF (1258KB) ( 1099 )  

    Corporate charitable donation issue has been a research focus in the field of corporate social responsibility. But for the unconditional charitable donation issue, how to implement and realize the donationis becoming a problem for companies. In order to solve this problem, this paper, based on the theories of attribution and heuristic-systematic model, researches the moderating effect of corporate social responsibility fit and social cause affinity. Using a mediated moderation model, the paper constructs the mechanism of charitable donation and consumer brand attitude, explains the indirect effect of donation amount and donation form on consumer brand attitude. The main conclusions are as follows:donation amount and functional fit not only has a direct effect on consumer brand attitude, but also has an indirect influence through the mediation of altruistic attribution. Donation amount and image fit can only indirectly affect consumer brand attitude, so does the donation form and functional fit. In the end, the paper provides some important references for corporate charitable donations.

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    Measuring and Managing E-retail Service Quality:Based on the Chinese Context
    Zhao Weihong, Xiong Xiaoming
    2015, 27 (12):  120-130. 
    Abstract ( 236 )   PDF (1366KB) ( 1348 )  

    Understanding how Chinese consumers perceive service quality is essential for e-retailers to realize competition advantages in the Chinese context. This study empirically develops a reliable and valid scale (named E-Tail-SQ) for the measurement of e-retail service quality, specifically in the Chinese context. As the evidence obtained from 100 interviewees and 529 effective questionnaires shows, the E-Tail-SQ scale classifies service quality in the context of e-retailing into four dimensions:environment quality, process quality, outcome quality and recovery quality. And, environment quality is derived from interface access, interface aesthetics, system availability and information usefulness; process quality is derived from safety of transaction, expertise of service and responsibility of website; outcome quality is generated by assurance of quality and fulfillment of website; recovery quality stems from reactivity and compensation of retailers. Moreover, these dimensions proposed in this study have reliable predictability on e-store loyalty via the mediating roles of satisfaction and trust. And, the relative predictability of them on satisfaction follows the order of recovery quality, environment quality, process quality and outcome quality; the relative predictability of them on customer trust follows the order of recovery quality, process quality, outcome quality and environment quality. These findings provide theoretical and managerial implications in further understanding and measuring e-retail service quality and developing effective strategies for e-store loyalty in the Chinese context.

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    Research on the Customer Innovation on Referral Intention:The Mediating Role of Psychological Ownership
    Zhang Depeng, Lin Mengfei, Chen Xiaoyan, Zhang Fuli
    2015, 27 (12):  131-140. 
    Abstract ( 277 )   PDF (1262KB) ( 1549 )  

    Under the background of customers' participation and experience, customers' innovative activities are not only a key way to product (service) innovation, but also an important source of word-of-mouth. Based on the perspective of social psychology, this study focuses on the effects of perception factors on the generating process of innovative customers' referral intention. The result of research 1 provides preliminary support for our hypothesis, and the result of research 2 shows that psychological ownership plays a partial mediating role between customer innovation and referral intention. Perceived competency has a significant moderating influence on the psychological effect of innovative customers, but the role of perceived dissonance has not been empirically verified. The research results help understand the mechanism of psychological factors on referral behavior, and provide relevant advices for enterprises to improve innovation activities and promote the effect of word-of-mouth marketing.

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    Career Patterns of Top Management Team Members in Listed Companies:Applying Optimal Matching Analysis
    Qiao Kun, Zhang Zhao
    2015, 27 (12):  141-150. 
    Abstract ( 254 )   PDF (1925KB) ( 1008 )  

    This paper applies optimal matching analysis (OMA) to research the career patterns of top managers from a holistic perspective of the career. We analyze 355 top management team members' demographic information from 244 listed companies, and the samples come from RESSET Financial Database. Our research approach focuses on the analysis of complex career sequences. The career sequences in our research are composed of organizational tenure, functional background and industrial background. With the OMA method and subsequent cluster analysis, we develop six career patterns of TMT members, and then we elaborate their respective characteristics. In addition, this study also applies chi-square tests to examine career patterns of TMT members in different birth years and positions. The result shows the occurrence of major patterns differs significantly among different birth years and positions. Compared with the corresponding studies abroad, the present study finds out special career pattern which exists in China. The characteristics of external labor market strategy and career variety are discussed specifically. Finally, we provide suggestion for policy-making and personal career development.

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    The Effect of Team-based Rewards on Performance:A Comprehensive Review
    Liu Ying, Zhang Zhengtang, Duan Guang
    2015, 27 (12):  151-163. 
    Abstract ( 399 )   PDF (1384KB) ( 1568 )  

    Team has become more common in organizations. It is more popular that rewards are contingent with team performance. But it is still not clear when and why team-based rewards are more effective than individual incentives. By reviewing numerous research papers in this field, we get some conclusions. Team-based rewards have four dimensions:goal setting, allocation rules, incentive intensity and payment frequency. Moderators range from organizational level to individual level. Team processes and team psychologies are both important mediators between team-based rewards and team effectiveness. But it is not sufficiently supported by empirical researches. Finally research deficiencies and future directions are presented.

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    The Theoretical Research of Group Headquarters:A Perspective of Network Embeddedness
    Wang Chang, Xu Jian, Wan Jian
    2015, 27 (12):  164-170. 
    Abstract ( 183 )   PDF (1150KB) ( 996 )  

    With the global value network reconfiguration, the relationship of parent-subsidiary corporation has changed from a hierarchical relationship to network partners. From a perspective of network embeddedness, the paper reviews the evolution of group headquarters theory research. Then the paper discusses the role of group headquarters and itsvalue creation, embeddedness overlap of group headquarters, network control, and the relationship between group headquarters' value creation and network effects. The paper indicates that group headquarters shift the emphasis away from administrative and resource control to value creation. Finally, the paper points out the direction of further research on group headquarters.

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    Observations on the Correlation between State-owned Enterprises' Scale and Innovation Intensity
    Zou Guoping, Liu Hongde, Wang Guangyi
    2015, 27 (12):  171-179. 
    Abstract ( 223 )   PDF (1197KB) ( 950 )  

    In China, most of the state-owned enterprises bear heavily on national economy and security, and they are supposed to innovate independently and play a key role in the national innovation initiative. This paper extracts data from the listed companies and subsidiaries of centrally administered SOEs in 2013 and overcomes the limitation of ordinary least squares method. We use quantile regression model and different enterprise scale indicators to study the correlation between state-owned enterprises' scale and innovation intensity. We aim to provide theoretical support for exploring innovation pattern of state-owned enterprises and enhancing China's independent innovation capacity and innovation efficiency. Our empirical results have the following implications:(1) There is no inevitable links between innovation intensity and total assets; (2) A negative correlation is found between the staff size and innovation intensity among every quantile; (3) There is a positive correlation in low quantiles but a negative correlation in middle and high-quantiles between gross sales and innovation intensity. Therefore, we conclude that there is a negative link between innovation intensity and enterprises' scale of the listed companies and subsidiaries of centrally administered SOEs. The expansion of business scale has a 'crowding out' effect on R&D investment, especially in high-tech enterprises. Enterprise innovation intensity can be enhanced by controlling the state-owned enterprises at a reasonable level and keeping enterprise size in line with R&D needs.

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    E-business Strategic Alignment and Collaborative E-business Capability:The Mediation Test of Formal Governance
    Chi Maomao, Zhao Jing, Huang Jiao
    2015, 27 (12):  180-191. 
    Abstract ( 217 )   PDF (1291KB) ( 843 )  

    As the digital technologies (e.g., big data and cloud) become pervasive nowadays, the competing relationship among firms transfers to the alliance, supply chain, and industry ecosystem. Therefore, how to capture the collaborative e-business capability has become a hot topic for both researchers and managers. Based on IT/IS strategic alignment, IOIS, and governance, this paper proposes the model of e-business strategic alignment, formal governance, and e-collaborative capabilities, which describes the appropriate value process for this alignment. This model is tested using survey data from a sample of 213 manufacturing firms. The results provide strong support for the proposed research model. In particular, we find that (1) e-business strategic alignment is the enabler of collaborative e-business capability; (2) formal governance is the mediator in the relationship between e-business alignment and collaborative e-business capability; (3) the longevity of collaboration time has a positive moderated effect on the relationship between formal governance and knowledge sharing capability. Our research extends IT/IS alignment literature, and theoretical and practical implications of the research are discussed.

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    Network Model of Unconventional Emergency Chain Based on Hypergraph
    Li Yongjian, Wang Zhiying, Qiao Xiaojiao
    2015, 27 (12):  192-201. 
    Abstract ( 204 )   PDF (1630KB) ( 950 )  

    Few of existing studies pay attention to the interrelations of different attributes during the process of emergency evolution, structural description of unconventional emergency chain, or emergency decision-making from the perspective of attributes. This paper first presents the structural description model of unconventional emergency chain. Then, based on hypergraph theory, we define active attributes and establish both the unconventional emergency chain hypernetwork model and its projection network model. Next, the criterions for the importance of network nodes and edges are put forward after making definitions of homogeneous edge, heterogeneous edge, homogeneous degree, heterogeneous degree and correlation matrix, so as to propose an assessment approach of importance of node, edge and network connectivity. Finally, Wenchuan earthquake in 2008 is taken as an example to verify the validity of this study.

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    Simulation Test on the Mutual-promotion of Positive Feedback between Rural Land Transference and Special Eco-industry Based on Method of Checking Step by Step and Parametric Combination Simulation
    Li Feng, Liao Xiaoming, Jia Renan, Tu Guoping, Zhu Qin
    2015, 27 (12):  202-216. 
    Abstract ( 211 )   PDF (1835KB) ( 760 )  

    This paper aims to develop eco-industry of special agricultural products to realize the important management measure of positive feedback interactive development for management rights transference in farmland and eco-industry. First, making plans and measures of the development for biogas fertilizer bamboo shoots in certain area of Jiangxi by selecting excellent agricultural products is shown. Second, the simulation model of high reliability is constructed by simulation test of each In-tree step by step to build T1(t)-T6(t) six rate variable fundamental in-trees of containing simulation control parameters. Third, according to simulation experiment of parametric combination and five parameter's range of desolated farmland rate C11, transference of management rights rate C12, average yield per unit C31, average profit of yield per unit C51, average biogas fertilizer of per hectare C61, the most satisfied combination and the most dissatisfied combination are constructed, simulated and analyzed separately, by which the management countermeasures of strong operation are formulated. The newly-built simulation of checking each in-tree step by step and parametric combination will improve model reliability and enhance simulation pertinence, and the results and countermeasures of comprehensive simulation provide the basis for making relevant management measures.

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    Virtual Retail Enterprise Model and Exponential Growth Effect:The Case of Meiyijia
    Tian Xin, Ding Yuzhang, Wang Shouyang
    2015, 27 (12):  217-223. 
    Abstract ( 337 )   PDF (1853KB) ( 1245 )  

    In the research and practice of virtual business theory, we proposed a brand new business model for retailing industry, i.e., Virtual Retail Enterprise (VRE) model. Benefitting from the success of VRE model in practice, a unique and astonishing exponential growth phenomenon has emerged in the retail company with VRE during the past decade. This paper finds and first illustrates the exponential growth effect in retailing industry. Additionally, we review the origin and concept of virtual business theory, propose the novel spiral framework of business mechanism innovation model, and introduce the fundamental innovative practice such as multiplication rule, replicating law and Fat Headquarters-Thin Stores (FHTS) model. Based on these works, we elucidate the business principles of VRE model and reveal the source for the exponential growth effect. The case study shows that VRE model make retail chains develop well at low-cost and rapid speed.

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    The Implementation of Large Cross-border Charity Project:Institutional Distance, Social Partnership and Project Performanc——Case Study on Hong Kong Assistance for Post-earthquake Wenchuan Reconstruction
    Tian Zhilong, Wang Zhigang, Ge Zhiqiong
    2015, 27 (12):  224-237. 
    Abstract ( 221 )   PDF (1490KB) ( 722 )  

    In the context of cross-border charity project partnership,institutional distance obviously impacts the fit between partners, and then the performance of the projects. At the same time, it affects the design and the importance of partnership management mechanism. Partnership management mechanism not only impacts projects performance directly, but also induces unfavorable impact on projects performance from partners' difference by improving fit between partners. It introduces the concept of institutional distance in partnership construction of cross-border charity project implementation, revealing the relationship between fit and management mechanism in partnership. It further finds the effect of institutional distance context.

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