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28 November 2019, Volume 31 Issue 11 Previous Issue    Next Issue

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Research on the Small Industrial Business Credit Rating Model and Empirical Analysis Based on Wilcoxon Test Li Gang, Zhang Yajing, Wang Jifan, Chi Guotai 2019, 31 (11):  3-19.  Abstract ( 350 )   PDF (1399KB) ( 639 )   The essence of credit rating is to measure the default probability of a loan, specifically, credit rating decreases with the increase of the default probability. Small industrial enterprises with less information available are not fully covered by financial analysts at home and abroad and that's why the credit rating model proposed in the existing researches for small industrial enterprises is defective. In this paper we use Wilcoxon test to establish a credit rating model for small industrial enterprises. There are three aspects of innovations and features in this paper. Firstly, the Wilcoxon method is applied to select features to establish a credit rating index system, which ensures that the index system can distinctly discriminate the default status of an enterprise; secondly, the run test is applied to evaluate the performance of the index system, which can do the validation of the credit rating model. Thirdly, index weight is determined on the basis of the regular pattern that the stronger ability an index has to discriminate the default status, the greater the weight is. The index system established this way successfully solves the problem in existing researches that the weight of an indicator does not match its ability of distinguishing the default state. References | Related Articles | Metrics

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Purchase and Withdrawal of Mutual Fund and Window Dressing: Empirical Evidence from Mutual Fund Information Disclosure in China Meng Qingbin, Yang Junhua, Xu Wei, Wu Lei 2019, 31 (11):  20-32.  Abstract ( 316 )   PDF (1201KB) ( 578 )   Under the unique regulation background, this paper studies the window dressing of Chinese mutual funds using the stock holding information from 2003 to 2014 and finds the following results. First, stock holdings of mutual fund have a significant impact on investors' decisions. When a fund holds more "winner" stocks, investors tend to increase their purchase or reduce their withdrawal. When it holds more "loser" stocks, investors are more inclined to reduce the purchase or increase the withdrawal. Second, the degree of window dressing is negatively related to fund performance. Furthermore, as mutual funds have to disclosure more detailed information of stock holding in the second and fourth quarter than in the first and third quarter, the degree of window dressing is significantly higher in the second and fourth quarter. Finally, we find that window dressing has a significantly negative impact on future performance because of higher trade costs resulting from window dressing. References | Related Articles | Metrics

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Research on Corporate Default Risk Prediction Based on Twin SVR Lin Yu, Wu Qinghe, Li Hao, Tang Xiaohua 2019, 31 (11):  33-43.  Abstract ( 211 )   PDF (3534KB) ( 535 )   This paper, taking companies that issue short-term financing bond as the objects of research, establishes a suitable method based on the credit spread to analyze the corporate default risk, then applies Twin-SVR (Twin Support Vector Regression) to predict the corporate default risk and finally explores the ability to interpret the characteristic indicators that affect the predictive performance of Twin-SVR default risk model. The empirical results are as follows:During the construction of the Twin-SVR model, we find that the RBF kernel function exhibits better prediction performance than the Polynomial, Linear, and Sigmoid kernel functions; compared with the traditional SVR, BPNN and Logistic corporate default risk prediction models, the Twin-SVR model not only has the best prediction performance and stability performance in the overall industry, but also has excellent generalization performance in the sub-industry; for the interpretation ability of the top two characteristic indicators that affect the prediction performance of Twin-SVR model, we find that the most explanatory two indicators in the overall industry and non-ferrous metal industry are credit rating and SOE/non-SOE background, and in the coal and steel industry, the top two indicators are credit rating and ROE. References | Related Articles | Metrics

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An Analysis of the Factors that Influence the Adoption and Design of Deposit Insurance System Chang Yiming, Zhao Shangmei, Yang Haijun, He Jiang, Hu Fei, Wu Jiang 2019, 31 (11):  44-59.  Abstract ( 214 )   PDF (1272KB) ( 549 )   This paper uses Weibull model, Cox proportional hazard model, Probit model and Heckman two-step model to study the public interest and private interest problems of deposit insurance adoption and design with the data of 189 countries and regions in 1960-2015 under the new influence factors and moral hazardous index system. The results show that the macroeconomic situation, banks' structure, business scope, banking supervision, political factors, legal system, population and external stress can affect different interests within a country for setting up deposit insurance system, and furthermore, they affect the possibility of adopting the deposit insurance system, the tolerance and the coverage limit of the scheme under the influence of the interaction of private and public interests. References | Related Articles | Metrics

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A Study on the Relationship between Bank-firm Relationship and Cash Dividend——Based on Double Hurdle Model Luo Fuyan 2019, 31 (11):  60-70.  Abstract ( 214 )   PDF (1164KB) ( 504 )   Based on agency theory and financing constraints and claims governance assumptions, this paper analyzes the relationship between bank-firm relationship and willingness to pay and the actual pay level of corporate cash dividend using double hurdle model and a share data in 2006-2015, a period after the Reform of Non-tradable Shares. The results show that there are significant differences in cash dividend paying willingness and payment levels. On the one hand, the size, amount and term of bank-firm relationship significantly improve the willingness to pay cash dividend and this result supports the financing constraints hypothesis. On the other hand, the size, amount and term of bank-firm relationship significantly inhibit the level of cash dividend payment when the firm agrees to pay cash dividend and this result supports claims governance hypothesis. References | Related Articles | Metrics

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Resource Integration and Focal Firm's Breakthrough Innovation: The Moderating Effect of Partner Competitive Relations Deng Yu 2019, 31 (11):  71-79.  Abstract ( 208 )   PDF (1209KB) ( 546 )   In the context of the alliance portfolio, enterprises achieve breakthrough innovations through effective resource integration, but these mechanisms are subject to partner competition relationship. In order to explore the relationship among resource integration, alliance partner competition and breakthrough innovation, an empirical study on the data of high-tech enterprises from three provinces is conducted. The results are as follows:firstly,resource integration has positive effect on breakthrough innovation. Secondly, alliance partner competition negatively moderates the effect of resource integration on breakthrough innovation. The conclusion of this paper deepens the research of breakthrough innovation from the perspective of competitive embedding and resource management and prompts business managers to choose the right alliance partners and continually improve their alliance management and resource integration capabilities. References | Related Articles | Metrics

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Can Government Subsidies Promote Innovation Effectively? An Analysis of DSGE Model Based on the Perspective of Innovation System Cui Baisheng, Zhu Lin 2019, 31 (11):  80-93.  Abstract ( 301 )   PDF (2011KB) ( 594 )   This paper analyzes actors of innovation ecosystem in a DSGE model of innovation ecosystem from the perspective of innovation ecosystem. This paper constructs a DSGE model containing innovation product department, total product department, family and government. Using the actual empirical data, this paper analyzes changes of technology innovation output, consumption, investment and flows of talent, capital, other factors under the background of impact from government innovation subsidies. The empirical results show that government innovation subsidies can really increase innovation output. But it has time lag and its effect needs 2-3 years to make the maximum incentive effect. Government innovation subsidies can stimulate the R&D investment in the technology innovation department. But it has a crowding out effect on R&D investment in the non-innovation department. And the crowding out effect is greater than the induction, which will have temporarily negative influence on the total output. The influence of government innovation subsidies on innovation output is far less than influence of total factor productivity shocks from innovation department. The difference is more than 10 times. At the same time, the economic cycle caused by the total factor productivity shocks is short, about 10 years. Under the same impact of government innovation funding, with the increase of the conversion rate of technological innovation output, the crowding out effect of the social investment in the general sector is getting stronger and stronger. References | Related Articles | Metrics

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The Impact of Public S&T Subsidies on Private R&D Output: An Empirical Study on Large and Medium Sized Industrial Enterprises in China Ma Wencong, Ye Yangping, Li Xiaozhuan, Liao Jiancong 2019, 31 (11):  94-107.  Abstract ( 221 )   PDF (1219KB) ( 846 )   Based on the data of large and medium-sized industrial enterprises in China during 2009 to 2014, this paper explores the effect that three kinds of public S&T subsidies, i.e., direct subsidies, direct tax credits and indirect tax credits, respectively have on private R&D expenditure. And the moderating effects of other factors like intellectual property right protection, property types, enterprise scale, R&D capital stocks and knowledge stocks are also analyzed. The conclusion is that public direct subsidies have a significant negative impact on new product innovation, but have no significant effect on patent application. Public direct tax credits have a significant positive effect on enterprises' new product innovation and patent application, while indirect tax credits do not have. Their effects on enterprises' R&D activities are different, depending on the characteristics of enterprises. In the region where the intellectual property is well protected, the simulative effect of all the three kinds of public S&T subsidies on private R&D is significant. Therefore, government policy makers should take into consideration such factors as the scale, nature, life cycle, innovation ability of the enterprise and the intellectual property protection when developing a policy package that resorts firstly to credits, secondly to direct subsidies and thirdly to other funding channels. References | Related Articles | Metrics

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Research on the Dislocation of Technology Transfer——Analysis Based on the Bilateral Perspective of Technology Transferors and Receivers Zeng Mingbin, Li Lingjuan 2019, 31 (11):  108-114.  Abstract ( 206 )   PDF (1091KB) ( 493 )   Based on relevant literature on technology transfer and from the bilateral perspective of technology transferors and receivers, we analyze the misalignment in the process of the technology transfer from research institutes and universities to the industry. A questionnaire survey to both technology transferor and receiver and a SPSS-based analysis of data show that the promoting effect of technology transferors is more significant in the case of less replaceable technology and the promoting effect of technology receivers is more significant in the case of highly replaceable technology. The results can help find the cause of misalignment and develop an effective solution. References | Related Articles | Metrics

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The Effects of GEM Firms' IPO on Their R&D Investment Li Danmeng, Sun Shuwei, Yan Endian 2019, 31 (11):  115-127.  Abstract ( 266 )   PDF (1213KB) ( 563 )   In this paper, we adopt a dynamic perspective to analyze whether a company's IPO will affect its R&D investment. Specifically, we use China Growth Enterprise Market (GEM) companies as our sample with small-medium size main board companies as matching sample and conduct an empirical analysis based on a Difference-In-Difference (DID) research design. Our results show that there is a negative relationship between IPO and R&D expenditures. Agency issue and short-termism pressure are the important reasons for the above findings. We also find that post-IPO firms' growth strategy relies more on external merger and acquisitions than on internal innovation input. The net effect of IPO on a firm' R&D investments is negative as the costs may be larger than the benefits from IPO. The results add more evidence on the research of the economic consequences of IPO and long-run performance and enrich the literature regarding firms' innovation behaviors. References | Related Articles | Metrics

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The Impacts of Network Positions, Knowledge Base on Firms'New Product Development Performance Chen Peizhen, Zeng Deming 2019, 31 (11):  128-138.  Abstract ( 194 )   PDF (1175KB) ( 624 )   In this study, we construct collaborative R&D network based on joint patent data of China's automobile industry from 1998 to 2013. We discuss the impacts of network positions on firms' new product development performance, and analyze the mediating effect of knowledge base on the relationship between network positions and the influence on the new product development performance. We find that network centralization and structural holes have a positive relationship with a firms' new product development performance. In addition, there is a positive relationship between knowledge breadth and knowledge depth and a firms' new product development performance. Also we find a partially mediating effect of knowledge breadth and knowledge depth on the relationship between network centralization and the new product development performance, and a fully mediating effect of knowledge breadth on the relationship between structural holes and the new product development performance. References | Related Articles | Metrics

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Face Consciousness and Green Buying Intention: The Moderating Effect of Consumption Context and Mediating Effect of Price Yu Chunling, Zhu Xiaodong, Wang Xia, Zhang Yifei 2019, 31 (11):  139-146.  Abstract ( 499 )   PDF (1181KB) ( 1279 )   To better understand how face consciousness influences green buying intention under the collectivism culture, this study builds a theoretical model including face consciousness, perceived social value and relative prices, and tests it through 3 studies. The results show that in the public context, customers with high face awareness display a preference toward green products over the same functional non-green products. In the private context, such preference is not observed. The study finds that perceived social value of high face awareness customers affects their green buying intentions. When green products have higher price over the ordinary products, compared to low face awareness groups, customers with high face awareness prefer green products. When green products have slightly lower price over the ordinary products, there is no significant difference between the two groups in preference for green products. References | Related Articles | Metrics

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A Research on Team Followership Based on Grounded Theory: Definition, Structure and Formation Mechanism Cao Yuankun, Zhang Qian, Zhu Zhenbing, Zhang Long 2019, 31 (11):  147-160.  Abstract ( 350 )   PDF (1491KB) ( 655 )   The existing researches on followership mainly focus on characteristics of the individual level, but neglect the characteristics of the team level. Based on practical observations and the trend of theoretical development, this paper proposes that the role of work team collective followership is more prominent in the leadership process compared to individual followership. Thus, we put forward a concept of team followership and explore its connotation and structure based on grounded theory methodology. The result shows that team followership includes both dimensions of team task orientation and interpersonal facilitation orientation, of which the former means team followership is an active in-role behaviors within followers and the latter means team followership involves emotional communication with the leader. Then, the classification model on work team collective followership is proposed on basis of the aforesaid discussion. In addition, we also explore the formation mechanism of team followership. The deficiencies of this paper and future research directions of team followership are discussed. References | Related Articles | Metrics

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Positive or Negative Emotions as Mediators and Team Identification as a Moderator Sui Yang, Zhang Yue, Chen Qin 2019, 31 (11):  161-170.  Abstract ( 288 )   PDF (1470KB) ( 816 )   This study examines the mediating role of employees' emotions and the moderating role of team identification on the relationship between supervisor developmental feedback and voice behavior. According to the statistical results, we find that (1) supervisor developmental feedback positively relates to employee positive or negative emotions. (2) Employee positive or negative emotions could completely mediate the relationship between supervisor developmental feedback and voice behavior. (3) Employee team identification effectively moderates the relationship between supervisor developmental feedback and employee positive or negative emotions. Specifically speaking, the stronger the team identification is, the more significant the positive relationship between supervisor developmental feedback and positive emotions. On the contrary, the stronger the team identification is, the more significant the negative relationship between supervisor developmental feedback and negative emotions. (4) Meanwhile, employee team identification moderates the mediating role of employee positive or negative emotions on the relationship between supervisor developmental feedback and voice behavior. A stronger sense of team identification could boost the positive effect of supervisor developmental feedback on voice behavior through positive or negative emotions. Ultimately, we discuss the theoretical and practical implications of this study and future research directions. References | Related Articles | Metrics

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Business Model Design and Firm Performance: The Moderating Effect of Strategic Flexibility Wei Zelong, Zhang Linqian, Wei Zesheng, Yang Tong 2019, 31 (11):  171-182.  Abstract ( 279 )   PDF (1215KB) ( 590 )   Based on business ecosystem theory and dynamic capability theory, this paper investigates the effects of novelty-centered and efficiency-centered business model design on firm performance and explores the moderating effects of resource flexibility and coordination flexibility. With data from 204 Chinese firms, we find that both novelty-centered and efficiency-centered business model design have positive effects on firm performance. Furthermore, resource flexibility strengthens the positive effect of the efficiency-centered business model design on firm performance, while inverted U-shaped moderates the relationship between novelty-centered business model design and firm performance. Coordination flexibility strengthens the positive effect of the novelty-centered business model design on firm performance, while has an inverted U-shaped moderating effect on the relationship of efficiency-centered business model design and firm performance. References | Related Articles | Metrics

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The Impact of Partner Age Asymmetry on Strategic Alliance Value Zhao Chao, Wang Tienan 2019, 31 (11):  183-194.  Abstract ( 190 )   PDF (1270KB) ( 395 )   Asymmetric alliance is becoming more and more significant for a firm's success in the new environment. Based on data of equity alliances formed by firms listed on Shenzhen exchange market from 2009 to 2013, we investigate the impact of partner age asymmetry on alliance value for firms in the manufacturing industry. We find that the impact of partner age asymmetry on alliance value is moderated by the firm's age, size and R&D capability. Results show that asymmetric age partners are more valuable than symmetric ones for old firms, but the value created in asymmetric alliances decreases when a firm is big in size or high in R&D capability. On the contrary, partners of similar ages are better choices for young firms, and the alliance value of cooperating with a symmetric age partner increases with the young firm's size and R&D capability. This paper contributes to research on partner selection. It explores the boundary conditions for value creation by strategic alliances, which illustrates the contingent effect of a firm's attributes in the relationship between its partners' age asymmetry and the firm's value extracted from strategic alliances. References | Related Articles | Metrics

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Study on the Evaluation of Agricultural Modernization Level Based on the Method of Hesitant Fuzzy Multi-attribute Decision Making Cui Chunsheng, Zhu Xianglin, Ren Yadan, Zhu Xiaomeng 2019, 31 (11):  195-201.  Abstract ( 230 )   PDF (1109KB) ( 438 )   Agricultural modernization is an important guarantee for the long-term stability of a country. In order to effectively measure the level of agricultural modernization, this paper studies the evaluation of agricultural modernization level in depth with the hesitant fuzzy set. The hesitant fuzzy set is a new mathematical tool to deal with the uncertainty problem, and it allows the membership function to have multiple possible values within the interval[0,1]. At first, this paper determines the alternatives and attribute sets of the evaluation of agricultural modernization level, and then a hesitant fuzzy matrix is obtained by using Delphi method. Afterward, this paper defines the positive and negative ideal hesitant fuzzy sets, and build a new method of similarity measure. Eventually, some countermeasures and suggestions to improve the level of agricultural modernization are provided by empirical analysis. References | Related Articles | Metrics

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Overseas Background Directors and Debt Costs——Evidence from the Mediating Effect of the Advisory and Supervisory Functions Xie Huobao, Ding Longfei, Liao Ke 2019, 31 (11):  202-211.  Abstract ( 459 )   PDF (1149KB) ( 702 )   Returnee directors have become an important force shaping the corporate governance of Chinese firms. They directly affect board functions and thus affect the creditors' willingness to provide credit. In this paper, based on a hand-collected database of the background information of the directors of firms listed in Shanghai and Shenzhen stock exchanges during the period from 2009 to 2016, we study how the overseas background of directors affects firms' cost of debt financing. Our empirical evidence shows that directors' overseas background lowers the firms' cost of debt financing by optimizing the advisory and supervisory functions of the board. Additional tests show that such effect is more pronounced in regions with strong government intervention and weak legal enforcement, where the returnee directors would be able to play a more important role. We are the first to show economic consequences of returnee directors from the perspective of debt contracting, and our study contributes to the literature that studies how the characteristics of the board of directors affect corporate governance effectiveness. References | Related Articles | Metrics

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Investor Limited Attention, Firm Complexity and Post Earnings Announcement Drift Xiang Cheng, Chen Fengwen 2019, 31 (11):  212-223.  Abstract ( 400 )   PDF (1193KB) ( 882 )   This paper studies the impact of firm complexity on investors' information processing and investment, particularly on post earnings announcement drift (PEAD). With A-share listed companies during 2002-2015 as the sample, this paper empirically shows that the complexity level of firms' revenue is significantly correlated with investors' attention and processing of earnings announcement, and thus is significantly correlated with PEAD. Compared with pure players, conglomerates involved in multi-industries and with revenue from diverse sources show greater PEAD. The earning delayed response ratios of conglomerates are at least 10 percent higher than those of pure players. The impact of firm complexity on PEAD would last for at least 2 months. When a pure player grows to be a conglomerate, its PEAD increases significantly. Conglomerates with higher dispersion in segment earnings growth rates also show greater PEAD. This paper provides empirical evidence on the necessity of financial disclosure at industry level for conglomerates. References | Related Articles | Metrics

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Study on the Effect of Supplier Network Insight of Manufacturers on Supplier Integration Li Suicheng, Li Yuzhong, Li Na 2019, 31 (11):  224-239.  Abstract ( 243 )   PDF (1325KB) ( 561 )   In the fierce market competition, supplier integration becomes an inevitable strategic choice of manufacturers to gain sustainable competitive advantages by acquiring and using external value resources effectively. According to cognitive behavioral theory, the scientific nature of strategic decision is subject to manufacturers' cognition of the supplier network, namely supplier network insight, which may greatly influence the effectiveness and efficiency of supplier integration strategy. Nevertheless, few existing researches have examined whether and how supplier network insight of manufacturers contributes to their supplier integration. To better reveal the influence mechanism of supplier network insight on supplier integration, this research, considering from network cognitive perspective, clearly defines the concept of supplier network insight which consists of "network scale", "network positioning", "attentive focus", "interaction and perception" and "environmental insight". The relationship quality is also introduced as the mediator, which is constructed as a mediation model. In order to examine the mediation conceptual model and its associated mechanisms, an empirical research is conducted by using 332 valid sample data collected from Chinese manufacturers in the method of structural equation model way. The research results show that every aspect of supplier network insight has a significant positive impact on supplier integration. Additionally, except "network scale" and "environment insight", the level of supplier network insight in "network positioning", "focus of attention" and "interaction and perception" aspects will indirectly affect supplier integration through the relationship quality between manufacturer and suppliers. This paper shifts the focus of attention on supplier integration to network cognition domain, and emphasizes that it's important for supplier management practices of manufacturers to understand their supplier network deeply and systematically. And it theoretically reveals the influence mechanism of manufacturers' supplier network insight on the supplier integration, and further broadens the research scope of supplier integration. In practice, it could guide manufacturers effectively to insight into the supplier network systematically, explore and acquire external value resources, and help manufacturers to carry out supplier integration efficiently. Thus the research results have certain theoretical and practical significance. References | Related Articles | Metrics

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A Comparative Study on Emission Reduction Policies of Low carbon Supply Chain Considering Channel Power Structure Li Youdong, Xia Liangjie, Wang Fengzheng, Zhi Huawei 2019, 31 (11):  240-254.  Abstract ( 318 )   PDF (1866KB) ( 851 )   This paper studies the carbon-emission reduction policy problem of low carbon supply chain under three channel power structures of cooperative and decentralized decision-making. The carbon emission reduction, pricing and profits are compared, and the two-part tariff contract is applied to discuss the coordination of low-carbon supply chains. The results show that the cooperative policy manufacturer Stackelberg and Nash have a higher level of low carbonization than the decentralized channel value while retailer Stackelberg has a lower level of low carbonization, but consumers need to pay higher prices for low carbon products. At the same time, we find that the manufacturer's profit in decentralized decision is better than the cooperative decision case, however, retailer's and supply chain's profits are different due to the different channel power structure. The increase of emission reduction factors will lead to the reduction of emission reduction, pricing and profit under decentralized decision-making and cooperative decision-making, while consumer preference for low carbon is the opposite. Finally, the influence of the emission reduction factors and low-carbon preference on the carbon emission reduction, the pricing, and profit of the supply chain in different decision structures are verified by numerical analysis. References | Related Articles | Metrics

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An Empirical Study on the Sources of Social Security and Its Interaction Mechanism Wang Long, Huo Guoqing 2019, 31 (11):  255-266.  Abstract ( 304 )   PDF (1189KB) ( 657 )   Studying the intrinsic factors of social security and its interaction mechanism is the basis and key to promote the modernization and the ability of social security governance in the New Era. This paper summarizes and analyzes the essential connotation and attribute characteristics of social security. Based on the theory of social system, the construction of state compulsory capacity and the general law of social security governance, it deduces the basic social function subsystem (political subsystem, economic subsystem, cultural subsystem), the basic factors affecting the sense of social security (sense of fairness, sense of acquisition and sense of order) and its specific connotation, puts forward the interaction mechanism analysis framework of social security intrinsic factors, and proposes four research hypotheses. Using multiple statistical regression method, 1418 valid samples are analyzed. The results show that the sense of order has a positive effect on the sense of acquisition, the sense of fairness has a positive effect on the sense of acquisition, and the sense of order has a positive effect on the sense of acquisition through the sense of fairness (mediating effect).With the increase of fairness, the sense of order has a negative effect on the sense of acquisition (negative moderating effect). The finding of the interaction mechanism of the basic variables of social security psychology can provide policy supply and reference for social security governance practice in the transition period. References | Related Articles | Metrics

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The Willingness, Expectation and Social Adaptability of Migrants to be Relocated to Neighboring Counties Tai Xiujun, Zan Xin 2019, 31 (11):  267-278.  Abstract ( 219 )   PDF (1322KB) ( 521 )   Previous researches on migration concentrate on the resettlement of involuntary migrants to be relocated far away and attributes the inadaptability of migrants to reasons concerning resources such as the failure of human capital and interruption of social connection in the new places. This paper focuses on the types of resettlement of migrants to be relocated to neighboring counties and refines the measurement of migrants' willingness to be relocated. The psychological expectation confirmation theory is used to analyze the effects of migrants' expectation before relocation on their social adaptability to life and production after relocation. The paper also proposes a social fitness model with regard to migrants to be relocated to neighboring counties, which is verified by multiple regression statistical analysis. It is found that migrants' willingness to be relocated is the major factor that affects their social adaptability and their expectation before relocation and psychological confirmation after relocation play an intermediary role in the process. References | Related Articles | Metrics

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Research on Discipline, Theme and Cooperation Network of Large-scale Scientific Facilities from the Perspective of Bibliometrics——A Case Study of Shanghai Synchrotron Radiation Facility Zhang Lingling, Zhao Minghui, Zeng Gang, Zhang Libin 2019, 31 (11):  279-288.  Abstract ( 242 )   PDF (2974KB) ( 624 )   Large-scale scientific facilities are important driving force for national science and technology innovation. A large number of studies show that large-scale scientific facilities' scientific effect can promote the construction of subject layout and the development of research cooperation. In reverse, a systematic and reasonable layout and a close and efficient cooperation can also promote the development of large-scale scientific facilities' scientific effect. Therefore, it is a basic, necessary and urgent task to further clarify the current situation and evolution trend of research disciplines, themes and cooperation networks related to large-scale scientific facilities. Adopting the method of bibliometrics and information entropy, this paper takes Shanghai Synchrotron Radiation Facility as an example to study its current situation and evolution trend of research disciplines, themes and cooperative networks from 2010 to 2015. The study finds that in terms of disciplines, Shanghai Synchrotron Radiation Facility promotes the development and cross-integration of chemistry, physics, materials science and other disciplines, but it should also strengthen the connection between cell biology and molecular biology and other disciplines. In terms of themes, it mainly covers crystal structure, structural analysis and other topics, as well as small-angle scattering and X-ray scattering techniques, and the overall distribution shows an evolution trend from dispersion to concentration. In terms of cooperation networks, it mainly relies on scientific research units within the Chinese Academy of Sciences system, and links between partner institutions have shown a weakening trend. References | Related Articles | Metrics

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Research on the Fitness between Motivation and Mechanism of Business Incubators Han Shaojie, Lv Yibo, Su Jingqin 2019, 31 (11):  289-304.  Abstract ( 255 )   PDF (1575KB) ( 914 )   This paper conducts the exploratory single case study with embedded units to identify the incubation motivation and governance mechanism of business incubators as well as the fitness between them. The case selected is Dalian Venture Workshop Technology Service Co. Ltd, which is a leader among all business incubators in northeast China. We first dissect the incubation motivation of business incubators based on entrepreneur anticipation and project anticipation, and identify the four incubated orientations:incubated stars, incubated entrepreneurs, incubated projects and incubated chicken ribs. Further, we find that there is a fitness relationship between the incubation motivation and governance mechanism for business incubators. To different incubation motivations based on "Entrepreneur-Project" dual anticipation, business incubators adopt distinguished mechanisms:trust mechanism for incubated stars, contract mechanism based on trust for incubated entrepreneurs, trust mechanism based on contract for incubated projects, and contract mechanism for incubated chicken ribs. The cooperation risk level and long-term cooperation willingness of business incubators are the main determinants of this fitness. This paper proposes a fitness framework on "Incubation motivation governance mechanism" for business incubators, and provides practical suggestions for the managers of business incubators to incubate new ventures effectively. References | Related Articles | Metrics