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28 February 2016, Volume 28 Issue 2 Previous Issue    Next Issue

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Affecting Factors and Evolution of the Stability of Industry-University-Research Institute Alliance under Different Alliance Scales Cao Xia, Yu Juan, Zhang Lupeng 2016, 28 (2):  3-14.  Abstract ( 243 )   PDF (2941KB) ( 748 )   Industry-university-research institute alliance (IURA) is an effective way for improving the outputs and transformation of scientific achievements and its stability has an important role on the development of technological innovation and economy. The affecting factors of the stability of IURA are mined by the method of literature extraction, and the relations between the influences and stability of IURA are analyzed. And then based on the theory of economics, evolutionary game and BA scale-free, the functions of affecting factors on the stability of IURA are simulated using matlab in present work. The results show that, whether the alliance scale is big or small, when knowledge transfer efficiency of both is high, the alliance can remain stable; under the condition of university-research with high knowledge transfer efficiency, when that of industry is not low in large-scale alliance, the alliance also can remain stable; but under the condition of industry with high knowledge transfer efficiency, when that of university-research is high both in large or small scale alliance, the alliance can remain stable; for profit allocation, distribution according to work can keep the stability of small-scale alliance, and distribution according to work or equally can make large-scale alliance tend stable. References | Related Articles | Metrics

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Carbon Cap-and-trade Pricing Mechanism Based on Cooperative Game Theory Xie Jingjing, Dou Xiangsheng 2016, 28 (2):  15-24.  Abstract ( 299 )   PDF (1273KB) ( 1656 )   Carbon trading pilot was launched in China recently, and the next urgent task is to form a carbon cap-and-trade pricing mechanism. Given that the carbon market in China is highly fragmented, immature and lacking of transactions, this paper proposes a carbon cap-and-trade pricing mechanism based on cooperative game theory and takes account of particularly complex risk system of carbon market. This paper firstly determines the risk value of cap-and-trade by Analytic Network Process, which considers all risk factors of the carbon market synthetically. Then, to disperse the trading risk, B-C index is applied to discuss the choice of trading partners and the trading volume. Finally, this paper discusses the rationality of the carbon trading profit distribution by Shapley value and Nucleolus method, which guarantees the stability of the alliance. Here, carbon cap-and-trade price can be calculated by profit formula. The study shows that applying this three-stage game model to simulate the carbon cap-and-trade pricing mechanism can disperse trading risk effectively and solve the problem that the risk of carbon trading market is larger and more complex than common market. Hence, it is the key driver for implementing unified carbon market in China. References | Related Articles | Metrics

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Project Governance Risk Analysis of Service-oriented Manufacturing Based on SNA Peng Benhong, Gu Xiaofen, Zhou Qianqian, Wu Baiyu 2016, 28 (2):  25-34.  Abstract ( 261 )   PDF (1106KB) ( 864 )   Globalization makes the interpenetration between services and manufacturing become increasingly apparent. The service-oriented manufacturing will become the basic trends in the global manufacturing industry. China's manufacturing industry is also changing from production-oriented manufacturing to service-oriented manufacturing. Service-oriented manufacturing often involves many different stakeholders whose changes in the structure of the network relationships not only affect the entire network functions, can also affect the behavior of each individual. Therefore, using a reasonable method to characterize and measure the relationship between the stakeholders can reduce the risk of project management. Project governance risks directly affect service-oriented manufacturing operations. Based on the method of Social Network Analysis, this paper builds a social network model of this project governance, analyzes the relationships of project stakeholders' status in the network, the individual behavior and the structure of the network. Moreover, the author does some research on the indexes of density, central potential and centrality and then discusses the effects of network structure on the project governance risks. Research shows that the network status of stakeholders influences individual behavior, so as to change the network structure and affect the status of other stakeholders, which may bring new risks to the project management. According to the results, the authors propose three strategies. Some stakeholders' joint can get more resources and enables them to get closer. A contract can prevent stakeholders from quitting the project to some extent. Customers' participation can reduce project governance risks. Social network analysis can depict the non-linear relationship among stakeholders and provide an effective quantitative tool for the research of service-oriented manufacturing project governance risks. References | Related Articles | Metrics

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A Study on the Measurement of Short-term Stability of Individual Banks——Based on the Indicators of Modified Liquidity Gap Rate Gu Xiaoan, Zhu Shulong 2016, 28 (2):  35-48,73.  Abstract ( 290 )   PDF (1654KB) ( 806 )   Liquidity gap is one of core indicators to measure liquidity risk of the bank as well as its short-term stability. Traditionally, the calculation of liquidity gap does not take account of the outstanding assets liquidated and outstanding liabilities withdrawn in advance. This paper introduces the model of credit default swaps to calculate the raised liquidity sources increased by credit assets traded ahead of time. At the same time, it pays attention to simulating the expanded liquidity gap led by outstanding deposits withdrawn through three stress testing, trying to build the indicator of "the modified liquidity gap ratio" to measure the bank's stability in short term. Moreover, this paper proposes an idea to rank the liquidity level based on the modified rate of bank liquidity gap, trying to classify stability into three grades, including EXCELENT, GOOD and POOR, which could provide a support of quantifying liquidity risk management and short-term stability for the banks and market supervisors. Therefore, this paper makes an empirical analysis of 10 major listed banks based on the panel data from 2004 to 2012. The results are as follows: compared to the large state-owned commercial banks, joint-stock commercial bank do a better performance in short-term stability; the rise of long-term deposits proportion can improve mobility while liquidity gap ratio is positively correlated; high proportion of long-term loans will increase the liquidity gap with a negative correlation; however, the relationship between the bank's return on assets (ROA), as well as net interest margin deposits, loans and the growth rate of GDP and short-term stability is not significant. References | Related Articles | Metrics

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Binary Structure Trend of Outbound Direct Investment and Investment Motivation of Local Enterprises Liang Si, Yuan Shenglong 2016, 28 (2):  49-60.  Abstract ( 245 )   PDF (1575KB) ( 667 )   Given the characteristics of China's outbound direct investment statistics, the provincial outbound direct investment data can reflect the direct investment of local enterprises in China. Provincial data from 2003 to 2012 shows that centrally administered state-owned enterprises and local enterprises, as two dominators of China's outbound direct investment, is tending binary, but their gap is narrowing over recent years, as evidenced by an over 25% increase in local enterprises' foreign direct investment from 2008 to 2012. Based on provincial data, this paper researches the status of local enterprises' investment and the macro motivation, and concludes that outbound direct investment of local enterprises in China is rapidly growing, but still in the early stages of the investment cycle. The factors that influence the direct investment of local enterprises include industrial structure, import and export scale and interest rate changes. In eastern, central and western regions, macro factors of outbound direct investment are different. Market orientation and energy seeking are the main reasons for the outbound direct investment of local enterprises in China. References | Related Articles | Metrics

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Institutional Environment, Tax Incentives and Enterprise Innovation Investment Liu Fang, Yang Zheng, Yang Xi 2016, 28 (2):  61-73.  Abstract ( 343 )   PDF (1076KB) ( 967 )   This paper draws upon the data of Chinese non-financial companies listed during the period from 2007 to 2012 to empirically study the leverage effect of tax incentives on an enterprise's R & D innovation. It is found that tax preference has a positive effect in stimulating enterprises to invest more in innovation in general and the effect is especially remarkable in an environment where financing is constrained, product market is highly competitive and the regional marketization process is high. Analysis of property rights indicates that tax incentives mainly have a leverage effect on private enterprises. In addition, it is also found that the tax incentives' effect is more remarkable in a less distorted factor market distortion. Therefore, the Chinese government should not only relieve tax burden by means of tax reduction and carry out more powerful tax incentives, but the government should also promote enterprises' R&D innovation investment by means of effective promotion of regional marketization processes. References | Related Articles | Metrics

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A Study on the Evolution of Nanotechnology Collaboration Network Based on Preferential Attachment Liu Fengchao, Zhang Na, Sun Yutao, Ma Rongkang 2016, 28 (2):  74-83.  Abstract ( 217 )   PDF (2014KB) ( 748 )   Based on social network analysis and statistical method, this paper analyzes the evolution mechanism of nanotechnology collaboration network from the perspective of nodes' entry and exit and preferential attachment using USPTO patent data. The result shows that: (1) the nanotechnology R&D network evolves from junior to senior through nodes' frequent updates and fast reconstruction of node relationship; (2) the attachment behavior between nodes has high selectivity in the nanotechnology collaboration network; when new nodes choose cooperative partners, the primary factor to consider is betweenness centrality of an existing node, and degree centrality followed; As the network evolves, the characteristic becomes more obvious; (3) the technical capacity, organizational capability, communication skill of the node itself and the development needs from external commercial competition are the driving forces of the evolution in nanotechnology collaboration network; (4) preferential attachment based on betweenness centrality has a positive role on promoting the innovation performance of new nodes and existing nodes. References | Related Articles | Metrics

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Retirees' Knowledge Contribution in Virtual Communities: A Research from Social Cognitive Theory Perspective Zhou Junjie 2016, 28 (2):  84-92.  Abstract ( 213 )   PDF (1234KB) ( 905 )   Retirees are increasingly engaging in information and knowledge sharing activities in virtual communities, but prior studies mainly focus onyoung people or employees. It isn't appropriate to explain retirees' knowledge sharing behavior using the data based on young people or employees. Based on social cognitive theory, this paper identifies the potential environmental and cognitive factors, and treats other members' participation in a virtual community as environmental factor, self-efficacy and outcome expectation as cognitive factors, analyzing their effects on a focal retiree's knowledge contribution behavior in the same virtual community. The empirical results show that these three factors not only affect a focal retiree's knowledge contribution behavior directly; furthermore, the two cognitive factors have a moderating effect on the environmental factor's effect. This paper verifies two contradictory effects: self-efficacy's substitutive effect and outcome expectation's complementary effect, which is less mentioned in prior researches; moreover, those findings also shed light on developing senior human resource and encouraging active aging for retirees. References | Related Articles | Metrics

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Study on Consumer Usage Intention of Mobile Coupons: From the Perspective of Personal Characteristics and Motivations Liu Fen, Zhao Xuefeng, Zhang Jinlong, Tang Qing 2016, 28 (2):  93-102.  Abstract ( 383 )   PDF (1449KB) ( 1656 )   Mobile couponshave great commercial value and their achievability depends on extensive use by consumer. Given that existing researches on the using behavior of mobile coupons is scarce, this paper constructs a model based on personal characteristics and motivations to explore influencing factors of consumer's usage intention of mobile coupons. Structural Equation Modeling analysis is conducted and the results indicate that motivation factors including perceived entertainment, perceived convenience and perceived economic benefit have significant impact on mobile coupon usage intention. Relatively, the effect of perceived enjoyment on usage intention is the largest, while that of perceived economic benefit is the smallest. Personal characteristics, namely personal innovativeness and coupon proneness both have not only direct impact on using intention, but also indirect impact on using intention through some motivation factors. References | Related Articles | Metrics

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The Impact of the Perceived Value of the Loyalty Programs Partnerships and Its Influencing Factors on Customer Loyalty: The Moderating Effect of Price Sensitivity Cao Li, Li Chunqing, Gao Yang, Ma Junping 2016, 28 (2):  103-115.  Abstract ( 301 )   PDF (1143KB) ( 1539 )   Based on loyalty program partnership of the domestic airline industry, this paper defines the perceived value of loyalty program partnership and proposes a model of the relationship of point's accumulation methods, member preferential treatment, the perceived value of loyalty program partnership and customer loyalty. According to the experimental method, it studies the moderating effects of price sensitivity on the relationship between the point's accumulation methods, the member preferential treatment and the perceived value of loyalty program partnership. The results show that, firstly, the point's accumulation methods and member preferential treatment have significantly positive effect on the perceived value of loyalty program partnership and further on customer loyalty. Secondly, the highly price-sensitive customers are impacted by point's accumulation methods positively, but price sensitivity does not moderate the effect of member preferential treatment on the perceived value of the loyalty program partnerships. References | Related Articles | Metrics

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The Influence of Perceived Risk on Consumer's Unethical Behavior Intention and the Moderate Effect of Direct Experience Zhao Baochun 2016, 28 (2):  116-126.  Abstract ( 240 )   PDF (1147KB) ( 1180 )   In this study, questionnaire investigation is used to check the effect of perceived risk affecting consumer's unethical behavior intention and the moderate effect of direct experience in the function. As result, it is found that, consumer's unethical behavior intention is inhibited significantly by his or her perceived risk, especial financial risk and social risk, of which the latter functions more significantly than the former. Moreover, direct experience is found to moderate negatively the impact of perceived risk on consumer's intention to behave unethically, and to those with affluent direct experience, the higher the extent of perceived risk is, the stronger the intention to take unethical behavior is. Additionally, in the dimensions of perceived risk, just social risk is found to be moderated by direct experience. References | Related Articles | Metrics

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The Effects of Abusive Supervision on Psychological Distress and Job Performance: A Moderated Mediation Li Yuhui, Wang Zhen, Huang Canwei, Wan Luomeng 2016, 28 (2):  127-137.  Abstract ( 375 )   PDF (1131KB) ( 1708 )   Researches into the leadership style have always been a major concern of academic world, because different leadership styles have different impact on the employees and the organizations and also the influence can be positive and negative under different circumstances. Abusive supervisors as a type of destructive leaders have been a focus of academic research these years, and researchers are trying to figure out how the mechanism works and in what ways we can do to alleviate the adverse effect abusive supervision has on employees and the organization. However, the mechanism underlying such process is still unclear. Therefore, this study aims to fill the gap, from psychological perspective, by investigating the mediating effect of mental distress and moderating effect of psychological capital. We collect data from 356 employees from 110 different organizations in China. We use established measures to capture key variables in this study. The reliabilities of all scales are above 0.70. Multiple regression, confirmatory factor analysis and moderated mediation model are employed to analyze data. Confirmatory factor analysis indicates the four key variables are discriminated. Regression analysis shows that abusive supervision is negatively associated with job performance, and the relationship is partially mediated by mental distress. In addition, psychological capital moderates the relationship between abusive supervision and mental distress in that the relationship is morepositive and stronger when subordinates' psychological capital is low. Moreover, moderated mediation analysis find that psychological capital moderates the indirect effect of abusive supervision on job performance via mental distress. Contributions, practical implications and limitations are discussed. References | Related Articles | Metrics

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The Effect of Leader-Member Exchange on Work-Family Balance: The Mediating Role of Work Flexibility-ability and Moderating Role of Work Flexibility-willingness Lin Xueying, Wang Yongli, Hao Yujie, Li Huijing 2016, 28 (2):  138-148.  Abstract ( 435 )   PDF (1301KB) ( 1772 )   The fact that once widely supported flexible work arrangement is increasingly questioned has attracted the attention of academia. In order to explore the functional mechanism of work flexibility to work-family balance (WFB), this research introduces leader-member exchange (LMX) to explore the intermediary variable and regulating variable of work flexibility on the relationship between LMX and WFB. For this purpose, 20 employees from 13 enterprises are individually interviewed and a questionnaire survey is made to 280 employees (for prediction) and 862 employees (for formal test) respectively. Based on the ecological balance of nature theory, this research sorts out five structures: defense, conversion, feedback, compensation and adjustment and meanwhile develops a localization inventory; then it uses hierarchical regression modeling to find that LMX has a significant positive effect on work flexibility; finally, it applies structural equation modeling to verify that job autonomy and a sharing atmosphere in work flexibility form a partial mediator between LMX and WFB and that work flexibility-willingness has positive moderating effects on the relationship of job autonomy and WFB. The conclusions above provide a theoretic foundation for the work-family balance in the future. References | Related Articles | Metrics

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Does Incentive on Top Managers Influence Corporate Pollution Practices? Jia Ming, Tong Li, Zhang Zhe 2016, 28 (2):  149-165,174.  Abstract ( 393 )   PDF (1578KB) ( 935 )   We turn to the internal governance from the aspect of incentive on top managers to regulate corporate pollution practices. We explore how to incorporate the corporate relative performance evaluation with the incentive on top managers to regulate corporate environmental pollution. We collect data of environmental pollution practices of Chinese environmental-intensity industrial listed firms from 2004 to 2012. Applying the prospect theory, we find that corporate social relative performance is beneficial for reducing the corporate pollution, and specifically for those firms in which the top managers have political affiliations. However, corporate historical relative performance may deteriorate the corporate pollution. For details, on the one hand, there is a positive relationship between high historical relative performance and the likelihood of corporate environmental pollution, but fixed payment of top managers mitigates this relationship. On the other hand, although there is a negative relationship between the low historical relative performance and corporate environmental pollution, a high fixed payment of top managers still promote corporate practices of environmental pollution. The results indicate that introduction of the corporate social relative performance evaluation and assigning political incentive on top managers as well as signing high fixed payment of top managers when a corporation having a high historical relative performance would sufficiently forestall the propensity of corporate environmental pollutions. References | Related Articles | Metrics

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Big-B versus Big-O: The Current State of Domestic Organizational Behavior (OB) Research Based on Keyword Analysis Zhang Jian, Zhang Yu, Gao Chao, Li Jingjing 2016, 28 (2):  166-174.  Abstract ( 265 )   PDF (1181KB) ( 1360 )   Since the early 21st century, the organizational behavior researches in the world have focused totally on individual and group behaviors, leaving organizing behavior neglected. The study uses the method of content analysis, based on all OB papers published over the 6 years from 2007 to 2012, in five leading journals such as Nankai Business Review, to reflect the state of organizational behavior research in China. Our study investigates and summaries the existing literature on OB and finds that under-researched topics in the first decade of this century have been gradually increasing, and part of the over-researched topics remain unchanged. Therefore the domestic organizational behavior research stays in a state of both Big-B and Big-O. Finally future directions are discussed constructively. References | Related Articles | Metrics

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High Quality Relationship, Learning from Failure and Innovation Performance of Enterprises Zha Chengwei, Chen Wanming, Tang Chaoyong 2016, 28 (2):  175-184.  Abstract ( 254 )   PDF (1247KB) ( 1019 )   Some scholars pay attention to the importance of social capital and organizational learning on enterprise innovation, butthey often ignore important value of learning from failure in the background of open innovation. Based on survey data from aerospace manufacturing enterprises in Shanghai, Nanjing and so on, the model is examined through the method of statistical test. Hierarchical regression results show that, the high quality relationship can improve psychological safety, and promote learning from failure, psychological safety is effective in promoting the learning from failure. Shared goals and mutual respect enhance innovation performance, but shared knowledge has no significant effect on innovation performance. The mediating effect shows that there are dual influence paths of high quality relationship on enterprise innovation performance: one is a direct effect on innovation performance; the other is that the high quality relationship has an indirect effect on innovation performance by psychological safety and learning from failure. This conclusion has some implications for path choice of innovation performance. References | Related Articles | Metrics

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Equity Capital Cost under the Transmission Mechanism of Market Information Environment Pi Tianlei, Tang Xiuping 2016, 28 (2):  185-196.  Abstract ( 202 )   PDF (1161KB) ( 858 )   A large number of studies suggest that the company's information disclosure level is negatively related to the cost of equity capital. However, the existing literatures neglect the indirect path of how the information disclosure influences the fluctuation of stock prices and finally causes changes in the cost of equity capital, which is bad for our comprehensive understanding of the determinants of the cost of equity capital. In this paper, we use R2 to depict the market information environment. Based on the sample of A-share listed companies during the year 2000 to 2011 in China, we make an empirical study and find: R2 is not only an effective alternative variable to the traditional level of information disclosure metrics, but also takes into account the whole process that the information disclosed affects the stock market fluctuations through the market transmission mechanism and thus affects the cost of equity capital, which effectively measures the overall effect of information disclosure and changes in the cost of capital leading by price fluctuations. Our study shows that, there is a significantly positive correlation between R2 and the capital cost of listed companies. This conclusion remains unchanged when the traditional indicators of information disclosure are added. References | Related Articles | Metrics

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Cooperation Management, Relationship Quality, Outsourcing Effect in Sanitation Service Outsourcing——on the Example of Shenzhen Liu Bo, Li Na, Li Qiaoyi, Cheng Yuan 2016, 28 (2):  197-209.  Abstract ( 221 )   PDF (2228KB) ( 839 )   Based on the existing theoretical research and combined with the practice, using the grounded theory, this paper constructs a model of cooperation management, relationship quality and outsourcing effect for sanitation service outsourcing. Through the survey of sanitation service outsourcing related departments of Shenzhen, this paper establishes a structural equation model (SEM) to verify the assumption. The research result shows that the influence factors of cooperation management: coordination and supporting, supervision and control, performance evaluation, and the influence factors of relationship quality: trust, commitment, consensus, they all have positive influence on effect of sanitation service outsourcing. At the same time, the coordination and supporting through trust, performance evaluation through consensus both can have a positive impact on outsourcing effect, therefore, cooperation management can not only directly affect the effect of the sanitation service outsourcing, also can through the relationship quality indirectly influence the outsourcing effect. Based on this, the paper begins from the source influence factor, i.e. cooperation management, to put forward the corresponding countermeasures and suggestions for the sanitation service outsourcing of local government. References | Related Articles | Metrics

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Information Concealing and Conspiring Problems of Food Safety Regulators in China: Interpretation Based on Principal-agent Model and Its Practical Verification Quan Shiwen, Zeng Yinchu 2016, 28 (2):  210-218.  Abstract ( 218 )   PDF (981KB) ( 827 )   According to principal-agent theory, we construct a model where consumers entrust food safety regulators to make sampling inspection and report food safety information to consumers. Our results show two existing institutional arrangements in China's food safety regulation are improper and regulators' incentives might be strongly distorted. The first arrangement is 'result-based-assessment', where regulators' performance are evaluated by the true level of food safety, and the second is supervision monopoly, namely the power of inspection and the power of punishment on producers are centralized in the hand of regulators. Representative cases with regard to regulation responsibility in food safety incidents partly confirm the deduction. And correspondingly, we propose several suggestions on ensuring incentive compatibility of food safety regulators. References | Related Articles | Metrics

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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.  Abstract ( 626 )   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. References | Related Articles | Metrics

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Value Chain Design and Reorganization of Chinese Manufacturers' Product Service Systems: A Case Study of Hangyang Shou Yongyi, Wang Weijiao, Dmitrij Slepniov 2016, 28 (2):  230-240.  Abstract ( 282 )   PDF (1477KB) ( 998 )   Servitization is an important path of the transformation and upgrading of manufacturers. This paper selects Hangzhou Hangyang Co. Ltd. as a paradigmatic case in the context of Chinese manufacturing servitization. The research conforms to case study principles and focuses on value chain activities as the analysis unit. A comparative analysis on Hangyang's value chains within different product service systems is conducted. The paper has some important findings: Manufacturers should form their servitization strategy according to their competitive conditions and select a reasonable and feasible product service system portfolio. Manufacturers should design an appropriate value chain corresponding to its servitization strategy and share some value chain activities among product service systems to improve resource utilization. As to value chain design, manufacturers should pay more attention to value chain activities close to customers since these activities require more customization while activities remote to customers are more convenient to share among product service systems. In the process of servitization, manufacturers should reorganize value chain activities along with the evolution of product service system portfolio so as to realize continuous improvement of product service systems. Based upon Hangyang's case study, this paper concludes some managerial insights on value chain design and reorganization for product service systems, which could benefit the servitization of other Chinese manufacturers. References | Related Articles | Metrics