Table of Content

28 December 2020, Volume 32 Issue 12 Previous Issue    Next Issue
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Economic and Financial Management
Technology and Innovation Management
Organizational Behavior and Human Resource Management
Accounting and Financial Management
Logistics and Supply Chain Management
Emergency Management
Public Management
Case Studies


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Economic and Financial Management

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The Impact of Bank Credit on Labor Allocation among Industries Chen Xuesheng, Ji Xiang 2020, 32 (12):  3-14.  Abstract ( 297 )   PDF (1226KB) ( 401 )   Based on the perspective of labor force distribution, this paper provides some new empirical evidence for how financial factors affect real economic activities. First, this paper expounds the impact of industry output on labor force allocation from two paths:scale and efficiency. And then we further consider the direct and indirect effects of bank credit in the labor force allocation. The empirical results of China's 2003-2015 year industry panel data show that there is a positive and negative correlation between production scale and production efficiency and labor distribution. Bank credit will affect labor allocation among industries, and it will have a reinforcing effect on labor force distribution by means of scale and efficiency channels. Credit expansion can improve employment level and drive economic growth, but it is not conducive to the improvement of total factor productivity. References | Related Articles | Metrics

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The Impact of Emissions Trading on Pollution Reduction: Quasi-natural Experimental Analysis Based on Difference-in-differences Model Si Lijuan, Cao Haoyu 2020, 32 (12):  15-26.  Abstract ( 294 )   PDF (1185KB) ( 368 )   In 2007, China launched a pilot policy on emissions trading in eleven provinces of the country, which provided a good quasi-natural experiment for studying the policy impact of emissions trading system on pollutants. Based on China's inter-provincial panel data from 2004 to 2017, this paper uses double differential and other methods to evaluate the effect of the pilot emissions trading policy on binding total pollutant control. The study finds that emissions trading has significant emission reduction effects on three types of binding total pollutants:sulfur dioxide, nitrogen oxygen and chemical oxygen demand, and the environmental impact of emissions trading is not disturbed by sewage charges and "two control zones"; In areas with higher regulatory intensity, emissions trading has a more obvious effect on the emission reduction of three types of pollutants. Hitherto, China's emissions trading pilot policy has achieved good results. It should further expand the scope and subject of transactions, narrow the differences between the level of technological and market development between regions, and speed up the construction of a unified national emissions trading market. References | Related Articles | Metrics

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A Research on the Influences of the Listed Firms' Information Quantity on Stock Price Volatility Han Yan, Cui Xin, Cheng Yuxing 2020, 32 (12):  27-36.  Abstract ( 265 )   PDF (1157KB) ( 293 )   The quantity of information is an important factor influencing stock price volatility. By using the monthly panel data of Chinese A-share firms between 2014 and 2016, this paper empirically tests how the quantity of information affects stock price volatility. The results show that the quantity of information is negatively associated with stock price volatility, indicating that information reduces volatility. However, it is shown that different types of information have different impacts on volatility of different companies. So far as such two types of information as media reports and corporate announcements are concerned, media reports reduce stock price volatility for both large- and small-size firms whereas corporate announcements enhance volatility for large-size firms and reduce volatility for small-size firms. Furthermore, institutional investors increase volatility, and the existence of institutional investors adjusts the relationship between information and volatility, namely institutional investors hinder information's role of reducing volatility. The results highlight that the mechanism of information's impacts on stock price volatility is not homogeneous, but rather dependent on information types and company characteristics. The results also lend supports to the view that institutional investors increase volatility and fail to stabilize the markets. References | Related Articles | Metrics

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Mixed Ownership Reform: Dividend Payout, Transfer Payments and Social Welfare Effects Liang Yongfu, Wang Fengsheng, Chen Lin 2020, 32 (12):  37-48.  Abstract ( 249 )   PDF (1576KB) ( 151 )   In a mixed-ownership enterprise, what is the impact of the current dividend payout? Given increasingly fierce international competition, is it necessary to adjust the dividend payout ratio and will such adjustment affect the optimal proportion of state-owned capital and even social welfare? To answer this question, this paper uses mixed oligopoly model to make a comprehensive study on the linkage effects between the dividend payout of mixed ownership enterprise and the fiscal transfer payment system, and explores how they affect the optimal privatization strategy, tax rate and even social welfare. Results show that:(1) there is a clear correlationship between mixed ownership reform and dividend payout of state-owned enterprise. For the state-owned enterprises in a highly competitive industry, the higher the dividend payout is, the lower state-owned capital holdings should be. (2) Mixed ownership reform and fiscal transfer payment system can substitute each other. The lower the transfer payment efficiency is, the lower state-owned capital holdings should be. (3) The rate of dividend payout by state-owned enterprises will affect the total welfare level of the society. The higher rate of dividend payout by state-owned enterprises, the lower the level of social welfare will be, and there is a turning point. (4) The dividend payment system of state-owned enterprises will actually affect social welfare. The higher the dividend payout ratio, the lower the level of social welfare, but there is a turning point in social welfare. The main policy implications of this paper are as follows:Under the current state-owned enterprise dividend-paying system, in industries with a large proportion of state-owned capital and fierce market competition, the government can improve social welfare by improving transfer payment efficiency rather than "simple and reckless" implementation of mixed ownership reform or adjustment of the proportion of dividends payout. References | Related Articles | Metrics

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Trading before Analysts' Recommendation Revisions: An Empirical Research on Margin Trading and Short Selling Cao Xinwei, Zeng Xu, Hong Jianqiao 2020, 32 (12):  49-60.  Abstract ( 247 )   PDF (1259KB) ( 177 )   This paper focuses on margin trading and short selling prior to public announcement of analysts' recommendation revisions, and shows that there is abnormal trading before analysts' recommendation revisions. To be specific, abnormal levels of margin trading increase in the short window before analyst upgrades, but abnormal short selling volume is not significantly related to analyst downgrades. Further study shows that when the margin trading and short selling volume of brokerage firm is larger, the relationship between pre-announcement abnormal margin trading and analyst upgrades is more significant. Also, star analysts do not mitigate the abnormal margin trading, and when there are more analyst upgrades on the same day, the pre-announcement trading phenomenon is more severe. This paper provides new evidence for conflict of interests between analysts and institutions, and shows that margin trading and short selling market is still at the primary stage in China. References | Related Articles | Metrics

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Social Capital, Debt Constraint and Non-efficient Investment——Evidence from Chinese Listed Family Firms Zhang Runyu, Yu Mingyang 2020, 32 (12):  61-77.  Abstract ( 266 )   PDF (1248KB) ( 286 )   Debt can play its role of contingent governance by constraining non-efficient investment. The governance mechanism has been widely validated under the institutional environment. Thus, this paper aims to answer whether this mechanism is still valid under the non-institutional environment. Using the data of 1378 Chinese listed family firms from 2008 to 2014 in Shanghai and Shenzhen A-share market, this paper studies the moderating effect of social capital on debt sources & maturity. The empirical evidence indicates that in terms of debt sources, bank loans, commercial credit and corporate bonds in varying degrees all inhibit the overinvestment and alleviate the underinvestment; but social capital only has significant moderating effect on the influence of commercial credit on non-efficient investment In other words, the more social capital there is in a region, the more significant role commercial credit can play in inhibiting the overinvestment and alleviating the underinvestment. In terms of debt maturity, to some extent, the increase of long-term debt ratio can aggravate overinvestment and underinvestment, but social capital will relieve the situation. While the increase of short-term debt ratio will inhibit the overinvestment and alleviate the underinvestment, and social capital do strengthen the positive effects. This paper discusses the relationship between debt sources & maturity and non-efficient investment from the perspective of social capital, and extends and enriches relevant study on social capital. References | Related Articles | Metrics

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Empirical Analysis of the Impact of Chinese M&A on Industry Based on Panel Data Han Xiaoliang, Jing Lang, Cui Ruhong, Lu Fengbin 2020, 32 (12):  78-85,100.  Abstract ( 295 )   PDF (1212KB) ( 226 )   Based on the performance theory, this paper uses a panel data model to analyze the impact of M&A (merger and acquisition) on the performance (return on equity, ROE) of 20 industries in China. The results show that the number of M&As has a significant negative impact on the industrial performance, while the relative size (the amount of industrial M&A/industrial assets) has a positive but not significant impact. Besides, the debt paying ability, growth ability, shareholder profitability and enterprise value play an important role in the industrial performance, and all of them have significant positive effects. A further research shows that the negative effect of the number of M&As in the medium and long term is weakened over time. References | Related Articles | Metrics

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Resource Endowment, Industrial Division and the Profit and Loss Deviation of Carbon Emission Xiang Xianhong, Sun Hui 2020, 32 (12):  86-100.  Abstract ( 210 )   PDF (1381KB) ( 210 )   In this paper, the profit and loss deviation of carbon emissions between resource-based areas and non-resource-based areas is calculated by using Dagum Gini coefficient decomposition method. And the influence of resource endowment on the profit and loss deviation of carbon emission is discussed by using spatial Dubin model. The industrial division is used as a breakthrough to explore the transmission path of resource endowment affecting carbon emissions. The main results are as follows:(1) The profit and loss of carbon emissions between resource-based regions and non-resource-based regions generally show a fluctuating rise. In addition, the relative "damaged areas" with profit and loss deviation of carbon emissions are mainly concentrated in economically underdeveloped resource-oriented areas, such as Shanxi, Inner Mongolia and Xinjiang. While the relative "beneficial areas" are mainly in economically developed non-resource-oriented areas, such as Beijing, Shanghai and Guangdong. (2) Resource endowment will aggravate the profit and loss deviation of carbon emissions, and the "neighborhood effect" of resource endowment to the profit and loss deviation of carbon emissions is greater than "local effect". (3) Industrial division is one of the ways in which resource endowment affects the profit and loss deviation of carbon emissions between, but there is heterogeneity in the influence of different stages of industrial division on the profit and loss deviation of carbon emissions. References | Related Articles | Metrics

Technology and Innovation Management

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A Dual-dimensional Analysis of the Diversity of Top Management Team Effect on Enterprise Innovation Ability——Empirical Test Based on the Data of Second Board Market Enterprise Wang Xingyu, Xing Yun 2020, 32 (12):  101-111.  Abstract ( 266 )   PDF (1175KB) ( 233 )   The existing research conclusions about the influence mechanism of top management teams (TMT) on enterprise innovation ability are not consistent, and the main reason is the lack of division of the dimensions on diversified traits. This paper explores TMT background diversify from two dimensions:social background diversity and function background diversity, and empirically tests their effect on enterprise innovation ability using the samples of 345 listed companies on second board market from 2014 to 2018. The research results of this paper are as follow:(1) Significant negative correlation is observed between the social background diversity of TMT and innovation capability of the enterprise. (2) The correlative analysis shows that there is a positive correlation between the function background diversity of TMT and enterprise innovation ability. (3) Further research shows that ownership concentration plays a regulatory effect between the diversification of TMT and the innovation ability of enterprise. The improvement of ownership concentration lowers the negative impact of the social background diversity of TMT on the enterprise innovation ability, and enhances the positive effects of the functional background diversity on the innovation ability of the enterprise. This paper provides ideas for explaining the inconsistency of existing research conclusions, supplements and enriches the explanatory power of existing theoretical research. The research conclusions of this paper provide theoretical support for the second board market high-tech enterprises to improve their innovation ability by optimizing the structure of TMT, and enrich the theory achievements in the field of TMT and innovation research. References | Related Articles | Metrics

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Membership Change in Entrepreneurial Teams: A Review and Prospect for Future Research Zeng Chuhong, Wang Zhao, Guan Zhihua 2020, 32 (12):  112-124.  Abstract ( 288 )   PDF (1302KB) ( 174 )   In the dynamic evolution of entrepreneurial teams, it is a universal and inevitable phenomenon that existing members exit and new members join. The mechanism for introducing external able persons to replace internal non-performers contributes significantly to the heterogeneous human capital, effective governance structure, good cohesion and strong motivation that a successful entrepreneurial team must have. Based on the relevant literature, this paper systematically summarizes the influencing factors, the content of membership change and the performance. Then it sorts out the basic trends in current research on the change of entrepreneurial team members, analyzes the limitations and shortcomings, constructs tentatively an integrated research framework of membership change, and finally puts forward some corresponding suggestions and prospects for future research. References | Related Articles | Metrics

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An Empirical Research on the Influence of Inter-organizational Knowledge Sharing and Technology Learning on Production Performance of Energy Enterprises——Based on “Hall for Work Shop of Metasynthetic Engineering” Wang Shubin, Lu Quanying, Qiao Han 2020, 32 (12):  125-134.  Abstract ( 356 )   PDF (1260KB) ( 255 )   Unconventional oil and gas development is a complex and systematic project with multi-subject participation and multi-engineering sequence. Relying on the development of modern digital oilfield technology and knowledge sharing among horizontal organizations of enterprises in the whole process of energy development can promote the reduction of uncertainty in the production process and the improvement of production quality. "How does knowledge sharing affect the production performance of energy enterprises" has become the focus of production management in the industry. However, the impact mechanism of knowledge sharing between energy enterprises participating in the production system on energy production performance is not clear, and there is no research experience that can be used for reference. Based on the consistency of the goal of value creation activities of energy enterprises and the learning curve theory, this paper applies the methodological framework of "Hall for Workshop of Metasynthetic Engineering, HWME" to explore the internal mechanism of how inter-organizational knowledge sharing influences the production performance of energy enterprises through the transmission of technology learning in the field of unconventional oil and gas production. Our findings show that:(1) inter-organization knowledge sharing has a significant positive effect on the production performance of energy firms; (2) technology learning plays a mediating role in the relationship between the inter-organization knowledge sharing and the production performance of energy firms; 3) Inter-organization knowledge sharing affects the productivity of an enterprise by technology cost and technical effect, and the mediating effect of technical effect is dominant. References | Related Articles | Metrics

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The Impact of Organizational Learning on Knowledge Innovation: Mediated by Organizational Unlearning Shen Bo, Lu Yifang, Wu Tian 2020, 32 (12):  135-145.  Abstract ( 253 )   PDF (1186KB) ( 246 )   The coronavirus has had a huge impact on the global economy. Survival and development under the pressure of economic downturn is a big challenge confronting many enterprises. The knowledge innovation capability based on organizational learning is increasingly becoming the core competence of national and corporate development, and its importance has become more prominent. Knowledge innovation has also become a hot spot in the current academic community. From the perspective of organizational learning, this paper divides organizational learning into three dimensions:learning commitment, common vision and open mind. It explores the impact of organizational learning on knowledge innovation, especially the mediating effect that organizational unlearning has when organizational learning affects knowledge innovation. Based on the literature review, we explore the construction of a conceptual model. Based on the survey data of 174 domestic enterprise employees, an empirical analysis is performed using correlation analysis and regression analysis. The results show that:(1) Organizational learning and organizational unlearning have a significant role in promoting knowledge innovation. Among them, the common vision and open mind have a significant role in promoting knowledge innovation, while learning commitment contributes little to promoting knowledge innovation; (2) Organization unlearning plays a mediating role between organizational learning and knowledge innovation. This research provides new insights into the process of promoting enterprise innovation practice. References | Related Articles | Metrics

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The Impact of FDI Spillover on the Evolution of Green Innovation Path in Industrial Enterprises——Based on Evolutionary Game Model Yang Chaojun, Liu Bing, Bi Kexin 2020, 32 (12):  146-155.  Abstract ( 351 )   PDF (1229KB) ( 177 )   Taking the green technology innovation of China's industrial enterprises as the starting point, this paper constructs the evolutionary game model of the green innovation path of different industrial enterprises under the background of FDI technology spillover and analyzes the stability of the evolution strategy. Numerical simulation is conducted to dynamically simulate the impact of FDI technology spillovers on the green innovation path of industrial enterprises. The results show that the degree of FDI technology spillovers profoundly affects the evolution of industrial enterprises' path of green innovation. When the technology spillover level of FDI is zero, the enthusiasm of industrial enterprises to carry out green independent innovation is low, and all enterprises evolve to the green imitative innovation path; When the level of FDI technology spillover is low, the reflection mechanism of different innovative strength enterprises is different. After a long period of time, the enterprises with innovative strengths are finally stable on the path of green independent innovation. Enterprises with innovative strengths and weaknesses choose green imitation innovation paths at a faster speed; When the level of FDI technology spillover is high, all enterprises gradually evolve toward the green imitation innovation path due to the convenience of technology acquisition and low cost. References | Related Articles | Metrics

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The Relationship between R&D Innovation and Brand Growth of “Time-honored Brand” Enterprises Wang Zhao, Wang Chengrong 2020, 32 (12):  156-167.  Abstract ( 273 )   PDF (1156KB) ( 272 )   The "China Time-honored Brands" are rich in history and culture, but lack technological innovation and growth momentum of brand value. Based on the data of A-share listed companies of "China Time-honored Brands" and the data of China's 500 Most Valuable Brands from 2007 to 2018, this paper analyses the relationship between R&D and the brand growth. The results suggest that R&D innovation behavior of the "China Time-honored Brands" can significantly improve brand value. Additionally, among types of R&D input of enterprises, the capitalized expenditure needs three years to realize its brand-enhancing effect. However, the period of effect of the expensed expenditure is relatively short. This paper also studies the effect of R&D patent output on the brand value. The results show that utility model patents have a significant brand-enhancing effect about two years after being authorized. Nevertheless, the appearance patents play a role in promoting the brand value in a short period. Moreover, the effect of invention patent on the brand value of time-honored brands is not significant. This paper innovatively explores the effect of R&D innovation on the brand growth of "China's Time-honored Brands", and the findings are helpful for "China's Time-honored Brands" to enhance their brand competitiveness. References | Related Articles | Metrics

Organizational Behavior and Human Resource Management

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The Impact of Transactive Memory System on Team Performance——The Moderating Effect of Social Network and Social Identity Qu Gang, Wang Xiaoyu, Zhao Han 2020, 32 (12):  168-179.  Abstract ( 322 )   PDF (1192KB) ( 240 )   Transactive memory system is helpful for team members to form an effective understanding of the team's knowledge distribution and play an important role in improving team performance. However, there are still few studies on the impact of social interaction and behavioral motivations of team members on transactive memory systems in the different stages of the team's task. This study introduces the method of social network structure in the context of nested social interactions and social identity theory used to study the individual behavior and collective behavior in the group, and the experimental investigation method is applied to 43 student teams. This paper analyzes the influence of interactive memory system on team performance under different time periods. The empirical process is used to test the effect of transactive memory system on team performance at different periods. The results show that:in the whole life cycle of the team's task, TMS positively influences team performance; the impact of TMS on team performance is negatively moderated by team social identity and positively moderated by team social network density; team social network centralization play a positive moderating role in the post-formation stage. This study reveals that the different roles of team network structure and social identity in the relationship between TMS and team performance in different periods and explores the role of TMS in different organizational structures and atmosphere. References | Related Articles | Metrics

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Identification and Evaluation of Independent Directors' Governance Capacity Elements Yang Kai, Zhao Xi'nan, Zhou Yan 2020, 32 (12):  180-191.  Abstract ( 260 )   PDF (1214KB) ( 186 )   Governance capacity identification is the foundation of effective selection of independent directors as governance capacity is their core function. In view of the fact that independent directors' governance capacity are currently evaluated only from a single point of view, the paper constructs an element character system and evaluation model of governance capacity identification for independent directors. First, the indicators are extracted from the grounded theory and RepGrid method. Then, in order to take the function of independent directors' individual elements and the board decision into consideration, the evaluation model is set from the combination between individual element identification model and VIKOR method. Finally, an empirical case is given to prove the indicators and the effectiveness of the model can illustrate the advantage of the individual management ability and analyze the elements of governance capacity. The final conclusion has meaningful enlightenment for independent directors' operation in the board governance function. References | Related Articles | Metrics

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Does Perceived Overqualification Inspire Employee Voice?——Based on the Lens of Fairness Heuristic Zhou Ye, Huang Xu, Xie Wujie 2020, 32 (12):  192-203.  Abstract ( 486 )   PDF (1248KB) ( 303 )   Although scholars start to pay attention to positive influence of perceived overqualification in recent years, researches in this regards are far from enough. Based on fairness heuristic theory, the present paper tries to explore positive influence of perceived overqualification on employee voice, and assumes that perceived overqualification and employee voice have a negative relationship when interactive justice is low, but high-interactive justice may stimulate overqualified employee to choose voice. Furthermore, this study discovers that employee's tenure alleviates the moderating effect of interactive justice, indicating that the positive effect of perceived overqualification on employee voice is the strongest when interactive justice is high and tenure is short. To test the hypotheses, we collect a two-wave field data from 256 bank tellers of 47 groups, and the model is supported by observed data. This study's finding inspires managers to create a fair organizational atmosphere to stimulate the initiative of employees with overqualification, and provides ideas for enterprises to deal with the problem of overqualification. References | Related Articles | Metrics

Accounting and Financial Management

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Auditor Change and Audit Quality: Empirical Evidence from the Perspective of Signatory CPAs Unchanged Chen Wuzhao, Zhang Haiyan, Fan Yuchen 2020, 32 (12):  204-220.  Abstract ( 206 )   PDF (1273KB) ( 211 )   Most of previous literatures about auditor change address the change of audit firms, but less concerns about the change of signatory CPAs. This study examines audit quality of listed companies having changed auditors but staying with the same signatory CPAs. Among all the substantial and voluntary rotations in China's capital market, those firms staying with the same signatory CPAs are referred to as "Clients Following Signatory CPAs, or ‘following’ for short". We examine audit quality difference before and after the "following" event, as well as the audit quality difference between these core samples and the remaining voluntary rotations. Both results from time series analysis and cross sectional analysis show that clients following signatory CPAs exhibit a better audit quality. Specific analysis based on the sign of abnormal accrual show that there is no statistical evidence that these "following" firms have earnings management incentive. Still, clients with small previous auditors see significant improvement in audit quality. All these results indicate that clients following previous signatory CPAs are more likely to be due to concerns of audit efficiency or audit quality, not due to earnings management incentive, nor "collusion" or "collaboration" with auditors. From a unique perspective, this study suggests that longer tenure may contribute to a better audit quality. References | Related Articles | Metrics

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Performance Expectations Gap, Interviewed Accounting Firm and Influence Tactics Used by Management in Audit Negotiation Sun Yan 2020, 32 (12):  221-233.  Abstract ( 188 )   PDF (1292KB) ( 171 )   This paper examines how management uses influence tactics to persuade auditors when negotiating with auditors on company annual reports. Influenced by the special social norms with the background of auditing professions, management is most likely to adopt rational persuasion tactic, less likely to adopt coalition tactic, and least likely to adopt personal appeal tactic. The performance expectations gap and whether the accounting firm is interviewed do not affect management's preferred order of using three tactics, but they will affect the extent of using these three influence tactics. Namely, when the performance gap is large, management is more likely to use the three influence tactics compared to the situation when the performance gap is small. When the accounting firm is interviewed, management is more likely to use the rational persuasion tactic and less likely to use personal appeal tactic compared to the situation when the accounting firm isn't interviewed. Research into questions mentioned above contributes to understanding how management tries to change the judgment and decision of the auditors by means of interpersonal influence. Therefore, this research is of guiding significance to improve the professional judgment and the quality of decision-making of auditors. References | Related Articles | Metrics

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Management Model Construction for Companies' Cash Holdings Based on the Cash Journal——Taking G Group as an Example Gao Jinshan, Dong Jichang, Xu Jian, Zhang Congcong 2020, 32 (12):  234-241.  Abstract ( 209 )   PDF (1117KB) ( 144 )   Enterprise cash holding management is a systematic project in which managers comprehensively consider the safety, liquidity and profitability of cash, and determine the cash holdings at any time as a whole. This paper first creatively proposes to employ the company's cash journal to calculate the sample value of reasonable cash holdings by setting the minimum opening value of the cash balance that ensures no negative value each day during the calculation period. Taking G Group as an example, the financial data and cash journal data of the company from 2013 to 2018 are selected to empirically study the relationship between the company's scale, total assets profit rate, fixed assets and asset-liability ratio asset yield, the return on net assets, the bank's liabilities, the agency status and the management relationship with the company's cash holdings. We set linear model with those variables and estimate model parameters by using the methods of ordinary least squares, from which the model parameters and the regression line itself can be estimated. The results reveal that the current group's total asset profit rate ROAt has a significant inverse correlation with the current cash holdings. In addition, the previous total asset profit rate ROAt-1,the ratio of management fees and operating income Wt, the ration of operating cash net flow and total assets Zt of last period affect current cash holdings negatively and significantly. Finally, the methodology proposed in this paper can be tapped as a basic tool for financial managers to make scientific judgments, and provide scientific and reasonable evaluation criteria for risk control and performance evaluation for enterprise cash flow management. References | Related Articles | Metrics

Logistics and Supply Chain Management

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The Impact of Carbon Trading Policy and Advertising on the Choice of Supply Chain Recycling Channels Sun Chaoyuan, Tian Siyuan 2020, 32 (12):  242-252.  Abstract ( 292 )   PDF (4503KB) ( 255 )   This paper discusses three kinds of closed-loop supply chain recovery models and then studies how decision-makers' choice of supply chain recycling channels is affected by the carbon trading policy outside the supply chain and the advertising strategy inside the supply chain. The research shows that different recovery models will not affect the pricing and market demand of new products in the positive supply chain. The retailer's advertising input level, the recovery coefficient of the recovery channel and the fluctuation of the carbon trading price will have different effects on supply chain members' decisions. References | Related Articles | Metrics

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Compete or Cooperate? Equilibrium for Duopoly Manufacturers under Heterogeneous Market Zeng Nengmin, Zeng Dongling, He Qing 2020, 32 (12):  253-262.  Abstract ( 349 )   PDF (1159KB) ( 220 )   This paper investigates the decision equilibrium for duopoly manufacturers (M1 and M2) who produce vertically differentiated products and compete in the market where the customers have heterogeneous preferences for the quality of products. M2 can produce components of final products by itself, whereas M1 has to rely on the components from its rivals or other suppliers. No matter whom M1 purchases from, there is identical unit sourcing cost. The results show that M2 always agrees to supply components for M2 and M2 always selects its rivals as the supplier. However, it does not mean that cooperation certainly occurs, because M1 may be pushed out of the market by M2 under price competition. In fact, in equilibrium, competition and cooperation either coexist with or exclude each other. Specifically, when the cost parameter of the industry is small, the manufacturers cooperate with each other on component supply in upstream and fight for market share in downstream; that is, competition coexists with cooperation. When the cost parameter is large (the cost disadvantage caused by quality advantage is large), M2 either pushes M1 out of the market by setting a low price (namely, competition excluding cooperation) if M2 has a lower product quality than its rivals, or only supplies components for M1 and hands the market to its rival (namely, cooperation excluding competition) if the opposite is the case. References | Related Articles | Metrics

Emergency Management

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Spatial Spillover Effects of Partner Assistance on Charitable Organizations' Information Disclosure: A Text Analysis Based on the Information Disclosure of Anti-epidemic Provisions Li Zhe, Tang Fujie, Yuan Chun, Hao Wenhan 2020, 32 (12):  263-272.  Abstract ( 306 )   PDF (1149KB) ( 266 )   In the critical stage of fighting COVID-19, the partner assistance relationship of "each province supporting a city" provided effective assistance to the epidemic areas in Hubei province (other prefecture-level cities except Wuhan city, the same below). Advanced medical teams and resources as well as the emergency management experience of public crisis were brought from aid-providing areas to the aid-receiving areas. This paper researches the information disclosure of receiving and distributing anti-epidemic provisions by the charity organizations, and tests the spatial spillover effect of partner assistance on charitable organizations' information disclosure. It is found that during the period of partner assistance, the more timely and in more details anti-epidemic provisions are disclosed in the aid-providing areas, the more so it is in the aid-receiving areas, and vice versa. The supervision effect of media report and the demonstration effect of contact learning can both enhance the spatial spillover effect. The main findings are still significant after alternative measurement, correction of measurement error, elimination of historical inertia, consideration of Internet partner assistance and consideration of time series correlation. The empirical conclusion can help further understand the law of information disclosure of anti-epidemic funds and substances and promote the cross-regional collaborative governance mechanism of charitable organizations. References | Related Articles | Metrics

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Evolutionary Game Analysis of Safety Supervision with Limited Resources and Benefit Dependency Ma Yanhong, Zhao Qiuhong, Wu Chengfeng 2020, 32 (12):  273-282.  Abstract ( 272 )   PDF (1352KB) ( 122 )   In this paper, an evolutionary game model between safety investment by the company and safety supervision by the local government is built. In the model, the impact of safety investment by the company on production profit is considered. Also, the interest relationship between the company and local government is modeled through considering tax ratio. The evolutionary stable strategy (ESS) is given and the impact of government regulation parameters, including safety investment reward, penalty, mandatory safety investment cost and tax ratio on the evolutionary stable strategy, is analyzed. The impact of the parameters indicates that safety investment reward does not affect the evolutionary stable strategy and the penalty can impel the company to invest in safety measures when the accident loss is relatively low. The increase of mandatory safety investment cost can decrease the company's safety investment probability and also the government's safety supervision probability. The stronger the interest relationship between local government and the company is, the higher the probability that the company invests in safety measures and the lower the accident probability. The results of this paper can help reduce accident probability and improve safety management level through guiding the government to set safety supervision related parameters. References | Related Articles | Metrics

Public Management

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Analysis of Influencing Factors and Scenario Prediction of Transportation Carbon Emissions in the Yellow River Basin Zhang Guoxing, Su Zhaoxian 2020, 32 (12):  283-294.  Abstract ( 393 )   PDF (1407KB) ( 346 )   Coordinating the relationship between transportation energy consumption and carbon emissions in the Yellow River Basin is a highly time-sensitive and urgent issue. In order to explore the influencing factors and trends of regional transportation carbon emissions, the study introduces method to decompose the influencing factors, and establishes the extended STIRPAT model to predict the carbon emission trend under different scenarios. The results show:1) during the period from 1998 to 2017, the carbon emissions of regional transportation experience changes from continuous rise to rapid decline to wavelike rise; the growth of per capita GDP and population in the Yellow River Basin promotes transportation carbon emissions, and the decrease of transportation intensity, transportation energy intensity and energy consumption per unit turnover volume inhibits the growth of carbon emissions; there are significant differences in transportation carbon emissions under different scenarios, and maintaining low population growth, high economic growth and high technological level are probably consistent with the future development trend. Therefore, optimizing the industrial structure, accelerating the promotion of new energy vehicles and improving transportation standardization should be the main paths to reduce the regional transportation carbon emissions in the future. References | Related Articles | Metrics

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How does the Combination of Medical Care and Nursing Affect the Service Efficiency of Private Elderly Nursing Institutions——Evidence from the Data of Beijing City Liu Guihai, Fan Yuqi, Liu Zhangsheng, Fan Liqin, Zhong Ronggui 2020, 32 (12):  295-306.  Abstract ( 256 )   PDF (1320KB) ( 146 )   Based on the survey data of 242 private nursing homes for the aged in Beijing, this paper evaluates the service efficiency of private nursing homes for seniors with BCC model of Data Envelopment Analysis (DEA) and therevised Bootstrap-DEA technique. The effect and mechanism of medical-pension combination mode on the service efficiency of private pension institutions are systematically explored with the Tobit, IV Tobit and 2SLS models. The results show that, under the current policy system, the combination of medical care and nursing care has a significant negative effect on the service efficiency of private pension service institutions. The combination of medical care and nursing can affect service efficiency through revenue effect and cost effect. The service efficiency of medical-pension combination mode, on the one hand, can be improved by raising the occupancy rate. However, the income effect of existing bonus policies has an uncertain impact on service efficiency, and the income effect of current charging standards even lead to the service efficiency loss. On the other hand, the combination of medical care and nursing can largely reduce the service efficiency through the cost effect channels such as "wage costs", "nursing costs" and "assistant spending". Therefore, it is conducive to promote the service efficiency of private pension institutions by strengthening policy support, diversifying institutional income sources, and optimizing the system of combining medical and nursing care. References | Related Articles | Metrics

Case Studies

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From Data Governance to Data Co-governance——A Qualitative Study on the Open Data Institute Yang Xuecheng, Xu Ziyuan 2020, 32 (12):  307-319.  Abstract ( 352 )   PDF (1285KB) ( 336 )   Current researches on data governance focus on single enterprise, but the collaboration under the background of data opening prompts researches to shift from data governance to data co-governance. However, exiting researches on the mechanism of data co-governance have yet to be deeply explored. Based on the data governance theory, this paper analyzes the UK Open Data Institute (ODI) using the grounded theory method, which explains the mechanism of multi-subjects collaboration under the background of data opening, and puts forward the data co-governance model. It finds that data co-governance follows the path from co-governance subject to co-governance framework to co-governance value. To be specific:first of all, data flow and collaboration among multiple subjects is a prerequisite for the data co-governance. And there is a virtuous circle among the four roles of subjects. Secondly, the co-governance framework is an action program that contains four parts:co-governance goal, co-governance key, co-governance scope and co-governance support. Lastly, co-governance value is the significance and the natural result of data co-governance, including social value and economic value. This paper enriches the data governance theory, which has theoretical and practical guiding significance for data co-governance under the background of data opening. References | Related Articles | Metrics

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A Case Study of Promoting and Inhibiting Factors of the Brand Attachment in Cross-Border E-commerce Platform Based on fsQCA Method Wang Lin, He Yufeng, Yang Yong, Zhao Yang 2020, 32 (12):  320-332.  Abstract ( 297 )   PDF (1279KB) ( 566 )   The ecological evolution and symbiosis of cross-border e-commerce platform in China have broken the regional competitive relationship of brand. Customer-centered brand reconstruction is affecting the global purchase decision of Chinese consumer groups, and it is of great practical value to explore the formation mechanism of brand attachment in source countries. In this study, configuration thinking and QCA method are used to explore the causal complexity of Chinese consumers' attachment to the brand of source country, taking 24 brands of NetEase koala National Pavilion as a case study. The results show that:(1) The driving mechanism of high brand attachment is divided into four paths, revealing that different conditional configurations can form multiple paths of high brand attachment. Among them, path 1 and path 2 are the linkage matching of high word of mouth and high emotional tendency; path 3 is the linkage matching of high brand international influence, high involvement and high word of mouth; path 4 is the linkage matching of high brand international influence, high involvement and high group identity. (2) The driving mechanism of non-high brand attachment can be divided into four paths, and it has a causal asymmetry with the driving mechanism of high brand attachment. The conclusion of this study is helpful to expand the brand management perspective of brand reputation and value co-creation, and provides theoretical and practical enlightenment for cross-border e-commerce enterprises to effectively promote brand attachment. References | Related Articles | Metrics