Management Review

Analysis of the Driving Forces of Changes in China’s CO₂ Emissions Considering Inter-provincial Trade Structure

Pan Chen, Li Shantong, He Jianwu, Zhou Peng, Zhou Dequn

2023, 35 (1): 3-15.

Abstract ( 209 )

PDF (2310KB) ( 300 )

China is a major CO₂ emitter and has a strong determination to reduce its CO₂ emissions. Therefore, the driving forces for the increase in its emissions have caused attention widely. Meanwhile, the inter-regional trade structure has become a potential significant factor for China’s emission growth, which has not been investigated in the existing studies. To this end, this study takes changes in the inter-provincial trade structure into consideration and adopts a two-stage six-factor structural decomposition analysis method based on China’s provincial multi-regional input-output model to explore the driving forces for the increase in China’s CO₂ emissions during the important development period of 2002-2012. Results show that during the period 2007-2012, changes in the structure of inter-provincial trade showed a carbon-intensive trend. The upward emission effects from the growth in the scale of final demand were mainly driven by exports as well as investment in the eastern provinces during the period 2002-2007, but driven mainly by increases in provincial investment in the following period. At the sectoral level, the CO₂ intensity of electricity production had been continuously improved during the study period, and that of the production of non-metallic mineral products, metal rolled and processed products had also been improved to a certain extent. However, electricity consumption in the construction and service industries had increased. In the future, measurements for improving CO₂ intensity and production technology on the production side could be combined with guidance of consumption preference on the demand side. Meanwhile, low-carbon development cooperation based on the inter-regional industrial chain could also play a role in reducing China’s CO₂ emissions.

References | Related Articles | Metrics

Forecasting the Volatility of Chinese Crude Oil Market Based on Geopolitical Risk

Yang Kun, Wei Yu, Li Shouwei, Liu Liang

2023, 35 (1): 16-31.

Abstract ( 172 )

PDF (1473KB) ( 230 )

Frequent geopolitical events in recent years are often regarded as a main cause of the intense fluctuations in crude oil market. Therefore, this paper first uses the GARCH-MIDAS-GPR-type models which incorporate geopolitical risk (GPR) indexes to analyze the impacts of the geopolitical risks of different countries, categories and severity on Chinese oil market volatility and the forecasting accuracy of the models. Then, the robustness of conclusions is further discussed from six perspectives: volatility forecasting with different lengths, volatility forecasting before and after the launch of Chinese crude oil futures, alternative basic model, direction-of-change of crude oil volatility forecasts, crude oil risk forecasting and portfolio management. Furthermore, three macroeconomic uncertainties and six economic policy uncertainties are introduced to compare how helpful different uncertainties are for prediction. The empirical results show that, first, the country-specific, overall and serious GPR indexes have significantly positive effects on the long-run volatility of Chinese crude oil market. Second, geopolitical risk indicators contribute to improving the accuracy of Chinese oil volatility forecasts to varying degrees, and the three GPR indexes which reflect the overall geopolitical risk of the world perform better than other GPR indexes. Finally, compared with the commonly used macroeconomic uncertainties and economic policy uncertainties, geopolitical risk can provide most useful information for forecasting crude oil volatility. All the above-mentioned conclusions are robust in statistical accuracy and applications.

References | Related Articles | Metrics

Research on Agricultural Products Wholesale Market Efficiency under the Supply and Marketing Cooperative System

Yang Zhihua, Zhang Xi

2023, 35 (1): 32-38.

Abstract ( 89 )

PDF (1213KB) ( 135 )

China witnessed a rapid development of its agricultural products trading market. Also, related business of the agricultural products wholesale market under the supply and marketing cooperative system is expanding. However, the in-depth research of agricultural products wholesale market efficiency under this system is inadequate yet. This paper applies analytical indicators to construct an efficiency measurement model of agricultural products wholesale market, and uses questionnaire to collect 19 samples of agricultural products market data under the supply and marketing cooperative system. DEAP software also contributes to the calculation of both static and dynamic efficiency of the samples. This paper analyzes the results, and summarizes the current status and trends, as well as the input redundancy and output slack of the samples.

References | Related Articles | Metrics

Regional Competition, Digital Inclusive Finance Promotion and Green Economic Efficiency

Liu Zhangsheng, Lai Binbin, Liu Guihai, Fan Zhenggen, Zhang Dongxiang

2023, 35 (1): 39-51.

Abstract ( 166 )

PDF (1718KB) ( 171 )

The Super-SBM model with undesirable output is used in this paper to measure the green economic efficiency of 265 prefecture-level cities in China from 2011 to 2018, and the Panel Data Model and the Spatial Durbin Model are used to systematically analyze the impact of promoting digital inclusive finance on the green economic efficiency under regional competition. The results are as follows. (1) Under the influence of geographical distance and economic gap, green economic efficiency has a significant spatial spillover effect. (2) Promoting digital inclusive finance contributes to the improvement of overall and local green economic efficiency, but inhibits the green economic efficiency of neighboring regions. (3) The impact of promoting digital inclusive finance on overall and local green economic efficiency is obviously positive under moderate regional competition but markedly suppressive under excessive regional competition. (4) The promotion of digital inclusive finance has a significant negative spatial spillover effect on the green economic efficiency of neighboring regions under regional competition. (5) Promoting credit-based digital inclusive finance makes the greatest contribution to enhancing green economic efficiency, and the negative effect of the interaction between regional competition and promoting digital inclusive finance on green economic efficiency also mainly originates from it. To this end, coordinating the development of inter-regional digital inclusive finance, maintaining moderate competition among regions, and promoting digital inclusive finance by category will help improve the green economic efficiency.

References | Related Articles | Metrics

The Impact of Mobile Payment on Households’ Participation in Stock Market

Yang Yang, Wu Zishuo, Yin Zhichao

2023, 35 (1): 52-65.

Abstract ( 156 )

PDF (1308KB) ( 140 )

In recent years, the rapid popularity of mobile payment has exerted a significant influence on family financial behavior. Based on the data of China Household Finance Survey (CHFS) from 2017 to 2019, this paper empirically studies the impact of mobile payment on households’ participation in stock market and the resultant return. In order to overcome the endogeneity problem, bidirectional fixed effect and instrumental variable method are used for estimation. Empirical results show that mobile payment can improve the probability of family participation in the stock market. In addition, this paper finds that mobile payment does not significantly promote stock earnings. Mechanism analysis shows that mobile payment mainly promotes households’ participation in the stock market through financial information acquisition, changing risk attitude, improving trust and improving credit availability. Regional heterogeneity analysis shows that mobile payment has a more obvious effect on families in towns, tier 1-3 cities and areas with strong financial availability. Heterogeneity analysis of family characteristics indicates that mobile payment has a more prominent effect on young families, middle-and high-income families and families with middle and high asset value. This study provides a new perspective for understanding the mystery of limited participation in the stock market and provides a reference for formulating relevant policies.

References | Related Articles | Metrics

Scale of Platform Enterprise, Data Advantage and Price Discrimination

Hou Weiwei, Jing Wenjun, Gu Zhaoming

2023, 35 (1): 66-74.

Abstract ( 196 )

PDF (1339KB) ( 191 )

In the era of digital economy, data, as a factor of production has an impact on the pricing decisions of platform enterprises. On the basis of summarizing the typical facts about the value of platform market data, this paper establishes a mathematical model to discuss the influence of data on the pricing and revenue for platform enterprises of different sizes, and focuses on the mechanism of how data volume and data processing technology influence pricing. The research shows that the pricing decisions of companies of different sizes are usually affected by data — with the support of data, small and medium-sized businesses tend to gain more profits by raising prices, while their larger counterparts care more about how to achieve complete price discrimination, which is actually lower than traditional monopoly pricing. On this basis, this paper argues that vigilance should be maintained for major platform enterprises that usurp consumer surplus through perfect price discrimination, and that not-so-large firms can be provided with technical support to promote market competition and prevent those giant corporations from abusing their dominant position in the market.

References | Related Articles | Metrics

Effectiveness of Public Certification in a Product Quality Crisis Scenario, Impression Management Risk and Investor Reaction

Yang Jie

2023, 35 (1): 75-88.

Abstract ( 101 )

PDF (1407KB) ( 118 )

When an organization’s response to a negative event reflects a discrepancy between words and deeds, there is a risk that it will be perceived as impression management. Using a two-stage Heckman Probit model with the stock market reaction after a negative event in the fast-moving consumer goods industry as the dependent variable, this paper examines the effect of public certification, the risk and the factors influencing the perception of risk in a product quality crisis situation. The results show that a company’s disclosure of the certification can reduce abnormal stock market returns after a negative event; however, when the threat is in the same domain as the organization’s held certification, the risk of being questioned negatively moderates the effect of public certification on its abnormal stock market volatility. The findings further suggest that the higher the organization’s domain-specific reputation, the greater the negative moderating effect of questioned risk; the greater the perceived authority of the organization’ s public certification, the greater the negative moderating effect of questioned risk. This paper explores investors’ reactions to the impression management rhetorical symbol of public certification in corporate crisis scenarios, providing theoretical support for the strategic risks that should be considered when communicating with external parties, while depicting the boundary conditions of perceived risk when organizations engage in impression management and stimulating reflection on long-held communication perspectives.

References | Related Articles | Metrics

Prediction for Chinese Natural Gas Production: Based on a Developed Logistic Model

Tu Chuang, Mu Xianzhong, Hu Guangwen, Chen Jian

2023, 35 (1): 89-96.

Abstract ( 135 )

PDF (1940KB) ( 171 )

Logistic model is one of the most accepted prediction models, but its utilization in predicting natural gas production is often limited due to its intrinsically fixed environment threshold and population growth rate. In this paper, these two parameters are functionalized to be time-dependent according to the characteristics of natural gas production. Based on singular perturbation theory, the matching expansion method is applied to solve this time-dependent Logistic prediction model. China’s natural gas production is used as an empirical case, and comparisons between traditional prediction models are conducted. Results reveal that the developed Logistic model can effectively improve the prediction, and according to this model, China’s natural gas production will reach the peak of 331.13 billion cubic meters by 2028.

References | Related Articles | Metrics

The Trends and Patterns of Tourism Industry Convergence in China: Based on Unstructured Data

Song Hongjuan

2023, 35 (1): 97-107.

Abstract ( 131 )

PDF (4532KB) ( 144 )

Industry convergence has become a way of China’s tourism industry’s transformation and upgrading. However, whether this phenomenon continues to be stable in China’s tourism industry remains to be further studied. In this paper we collect a large number of unstructured data on tourism industry convergence and after data cleaning, carry out a co-occurrence analysis of keywords in news coverage and use the Pointwise Mutual Information Index (PMI) as an index of tourism industry convergence to analyze the Convergence of China’s tourism industry, with a focus on its trends and patterns. The results are as follows. Firstly, the convergence of tourism industry in China presents a growing trend as a whole. Secondly, the tourism industry and the service-oriented industry show superposition patterns (linear), while the tourism industry and the non-service industry show industrial restructuring patterns (non-linear). Thirdly, the convergence patterns of tourism industry are heterogeneous, in which “tourism+sports”, “ tourism+health” and“ tourism+ecology” industries have shown evolutionary convergence, while “tourism+rural”, “tourism +event” and “tourism+wedding” industries have shown stationary convergence. These findings show that the tourism economy is undergoing major changes and the fuzzy boundary of the industrial convergence mode gradually expands. In addition, this study provides a way to predict the future direction of China’s industrial convergence.

References | Related Articles | Metrics

The Innovation Input and Innovation Efficiency of Private Enterprises: An Empirical Analysis Based on Micro Innovation Survey Data

Xie Bin, Xu Zhi, Chen Chaoyue, Wu Huifan

2023, 35 (1): 108-120.

Abstract ( 135 )

PDF (1379KB) ( 217 )

Private enterprises are usually regarded as a conservative form of enterprise organization. However, some private enterprises have become the most innovative enterprises in the world. In this paper, we explore the innovation input and innovation efficiency of Chinese private enterprises in the process of economic transition. Starting from the basic characteristics of private enterprises and using a large-scale micro data set, this paper obtains the following results. Compared with enterprises in other ownership forms, private enterprises invest less in technological innovation. And private enterprises are less efficient in innovation. The market competition and the age of enterprises have no obvious influence on the technological innovation activities of private enterprises, but government subsidies and stronger combination of industry, university and research can not only promote the increase of innovation input of private enterprises, but also promote the improvement of innovation efficiency of private enterprises. The innovation input of state-owned enterprises has positive externality to the innovation of private enterprises. It not only has a crowding effect on the innovation input of private enterprises, but also improves the innovation efficiency of private enterprises through the knowledge spillover effect.

References | Related Articles | Metrics

Innovation Ecosystem Driven by Large-scale Scientific Facilities (Clusters): A Theoretical Model and Empirical Research

Li Zhisui, Nie Changhong, Liu Yixi, He Zhou

2023, 35 (1): 121-133.

Abstract ( 121 )

PDF (1461KB) ( 163 )

China is establishing a grand innovation system for sustainable development of the country. Large-scale scientific facilities (LSF) is an important part of the essential national science and technology platform. So it is pressing to find how to promote the development of an LSF-driven innovation ecosystem. This paper investigates the innovation ecosystems in six places of five provinces (Binhai area in Tianjin, Zhangjiang area in Shanghai, Taicang city in Jiangsu, Hefei city in Anhui, Dongguan city in Guangdong and Foshan city in Guangdong). The theoretical model of LSF-driven innovation ecosystem is constructed based on the first-hand research data and related innovation ecosystem theory. The model is mainly composed of three communities: innovation community, finance community and policy community. We survey nearly 100 experts, scholars and practitioners through a questionnaire, quantify the important details of the theoretical model, and successfully verify its rationality and effectiveness.

References | Related Articles | Metrics

How the Big Data Capability Improves the Performance of Small and Medium-sized Enterprises under the Context of Environmental Dynamics of the Epidemic Crisis——The Mediating Role of Business Model Innovation

Chen Zewen, Xu Xiumei

2023, 35 (1): 134-145.

Abstract ( 161 )

PDF (1337KB) ( 166 )

Under the background of the “Digital China” strategy, big data is becoming an important engine for high-quality development of enterprises. The epidemic crisis has accelerated the development process of digitalization, and at the same time, it has also promoted business model innovation to a new strategic height. Existing literatures focus on the driving effect of business model innovation from multiple aspects, but pay little attention to the impact of the big data capability. And researches on the process of SMEs’ big data capability and corporate performance are also very limited. Based on a sample of 209 small and medium-sized enterprises (SMEs), this paper explores the impact of big data capability on SMEs’ business model innovation and performance in the context of environmental dynamics of the epidemic crisis. The results show that SMEs’ big data resource acquisition capability, big data analysis and integration capability and big data application capability can all be conducive to the improvement of their performance. The business model innovation partially plays a mediating role, but the mediating role is not significant in the relationship between big data resource acquisition capability and enterprise performance. The environmental dynamics of the epidemic crisis is not only an important starting condition for big data resource acquisition capability, but also plays a positive moderating role on the relationship between big data integration capability and business model innovation. However, the moderating effect on big data application capability and business model innovation is not significant. The research conclusions have important reference significance for SMEs to cultivate big data capability and carry out business model innovation.

References | Related Articles | Metrics

Study on New Energy Vehicle Purchase Intention and Nudge Policy Based on Consumer Values and Bounded Rationality

Yang Kexin, Zhang Qi, Yu Lean, Pan Xunzhang

2023, 35 (1): 146-158.

Abstract ( 288 )

PDF (6626KB) ( 283 )

As government subsidies phase out, the new energy vehicle sector that still faces severe challenges needs to be supported by low-cost and efficient sustainable incentive policies. Starting with consumer decision-making mechanism, considering consumer values and bounded rationality, the present study analyzes the impact of the fading subsidy policies for new energy vehicle on different consumer groups’ purchase intention by collecting questionnaires and constructing structural equation model, and explores the moderation effect of frame nudge policy on purchase attitude in the absence of subsidy. The results are as follows. (1) Consumers’ values will affect their purchase attitude. Specifically, their environmental values and innovative values have a positive impact and their functional values have a negative impact, with the largest impact from their innovative values and the smallest impact from their environmental values. (2) Herding effect has a negative impact on purchase attitude and appeal of authority has a positive one, but the total effect of both on purchase intention is significantly positive, and authority effect is wider. (3) The phase-out of subsidies plays a mediating role in purchase attitude and intention, and the direct effect on purchase intention is significantly negative. (4) Relative cost frame and positive environmental frame have a moderating effect on purchase attitude and bounded rationality respectively. Based on the above conclusions, the present study suggests that with the decrease of subsidies, the government and enterprises should improve the functional attributes of new energy vehicle, and policies should be designed in such a manner as to bear in mind that nudge policies based on relative cost frame has the best moderating effect, while the effect of nudge policies based on positive environmental frame depends on consumers’ degree of bounded rationality. The results provide powerful decision support and policy tools for designing new energy vehicle promotion policies in the post subsidy era.

References | Related Articles | Metrics

Advertising Strategy of Supply Chains with Gray Markets

Zhan Tianyu, Xiao Tingting

2023, 35 (1): 159-173,198.

Abstract ( 135 )

PDF (2239KB) ( 144 )

Faced with severe challenges resulting from gray markets, multinational corporations have to develop a new strategy of response. This paper analytically investigates the advertising strategies of authorized channels and their effects in centralized and decentralized supply chains where a gray market exists. Two-stage and three-stage Stackelberg game models for centralized and decentralized supply chains are developed respectively to investigate different advertising strategies such as no advertising, advertising only in the highprice market, advertising in both high-and low-price markets, and use of cooperative advertising under both structures. The results show that: (1) The advertising level is negatively correlated with consumers’ relative perception of gray market products, but stabilizes eventually. (2) In the centralized supply chain, advertising in the high-price market is a “ win-win” strategy for both the manufacturer and the gray market speculator. (3) In the centralized supply chain, advertising in both high-price and low-price markets not only benefits the manufacturer, but also plays a role in weakening the speculator during the maturity of the gray market. (4) In the decentralized supply chain, the advertising level will decline, and the profit of the authorized channel will shrink, but the profit of the gray market speculator may rise. (5) Cooperative advertising can increase prices of both channels in both markets and stimulate advertising, which benefits the manufacturer and the gray market speculator, but harms the retailer.

References | Related Articles | Metrics

The Influence of Product Ranking on Product Sales in Online Shopping from the Perspective of Information Cascades: The Moderating Roles of Product Type and Product Price

Liu Qihua, Wang Li, Tong Zelin, Li Yiran, Zhang Xiaoyu

2023, 35 (1): 174-186.

Abstract ( 130 )

PDF (1346KB) ( 185 )

Using real online product data from the largest business-to-consumer platform in China of Tmall.com, this study examines the effect of product ranking on online consumers’ purchasing behavior from the perspective of information cascades, and investigates the moderating roles of product type and product price. This study uncovers several notable findings. After controlling for network effects and word-of-mouth effects, we find that product ranking has a positive impact on product sales in online shopping. Furthermore, if the effects of product type or product price are analyzed separately, the moderating effects are significant. Specifically, product ranking has a greater impact on product sales for experience goods than for search goods. Product ranking also has a stronger influence on product sales for high-price goods than for low-price goods. However, after considering the influence of product type and product price at the same time, we find that the interaction between the two is significant, the moderating effect of product type is still significant, but the moderating effect of product price disappears. In terms of the the level of influence that product ranking has on product sales, the greatest influence is for high-price experience products, the second greatest influence is for low-price experience products and high-price search products, and the least influence is for low-price search products. This study enriches the theory of online consumer behavior research and provides practical guidance for online retailers and e-commerce platforms to better carry out online marketing.

References | Related Articles | Metrics

Donors or Victims? The Effect of Matching Charity Appeal Protagonist Focus and Donation Types on Donation Behavior

Duan Shen, Liu Fengjun, Li Yuanyuan, Meng Lu

2023, 35 (1): 187-198.

Abstract ( 260 )

PDF (1453KB) ( 221 )

Effective charity appeal is one of the main means to promote public participation in donation. Previous studies have explored the influence of different protagonists of charity appeals on observers’ donation behavior, however, different donation types also affect the donation behavior of potential donors, but few studies have explored the impact of the interaction between charitable donation protagonists and donation types on donation behavior. This study explores the influence of the interaction between charity appeal protagonist focus and donation type on the donation behavior, and reveals the moderating effect of the number of protagonists. Experiment 1A firstly verifies that matching charity appeal protagonist focus and donation type would produce differential evaluation on the needs assessment of different donation types, thus providing preliminary evidence for the subsequent research on donation behavior; experiment 1B directly verifies the impact of the matching effect of the charity appeal protagonist focus and donation type on individual donation intention through online questionnaire. Experiment 2 further verifies the effect of matching between the charity appeal protagonist focus and the donation type on individual donation behavior through the assignment of real money in the laboratory experiment, and further elaborates the moderating effect of the number of protagonists. This study aims to provide practical guidance for different types of charitable appeal perspectives, so as to improve the donation behavior of potential donors.

References | Related Articles | Metrics

“Enabling” or “Overloading”? Double-edged Sword Effect of Feeling Trusted on Employees’ Proactive Behavior

Qiu Xunjie, Yu Guilan, Sun Xuan

2023, 35 (1): 199-208.

Abstract ( 214 )

PDF (1354KB) ( 307 )

As a type of trust, feeling trusted has been paid more and more attention. Some scholars believe that it can stimulate employees’ positive behavior. But in recent years, scholars have found that it can also lead to employees’ negative behavior. According to the Job Demands-Resource Model and Conservation of Resource Theory, this study believes that feeling trusted is both a benefit and a burden, and constructs a double-edged sword model, namely an empowering path to stimulate the proactive behavior and an overload path to hinder the proactive behavior. In addition, this study also examines the moderating roles of power distance orientation in these two paths. The research hypotheses are tested using structural equation modelling based on 303 employee self-assessment data from three time points. The results show that feeling trusted can not only stimulate employees’ self-efficacy and promote their proactive behavior, but also aggravate their role overload and hinder their proactive behavior; power distance orientation tends to play a negative moderating role between feeling trusted and role overload. In other words, the higher the power distance orientation, the weaker the positive relationship between feeling trusted and role overload.

References | Related Articles | Metrics

Research on CEO’s Transformational Leadership, Organizational Identity and Organizational Routine Updating: Based on the Collectivism Tendency

Wang Yongwei, Wu Xiangfan, Ye Jinhua, Liu Yuzhan

2023, 35 (1): 209-221.

Abstract ( 262 )

PDF (1400KB) ( 317 )

In the digital era, organizational routines updating is an important source for enterprises to achieve strategic transformation and obtain sustainable competitive advantages. It is also the focus of organizational routine updating and management practice. Based on the theory of social identification, this paper explores the mechanism and context in which CEO’s transformational leadership behavior influences the updating of organizational routines. Through the analysis of 203 matching data of senior management teams and middle managers by statistical software SPSS and AMOS, this paper finds that CEO transformational leadership behavior has a positive effect on organizational identity and organizational routine updating, and organizational identity plays a mediating role in the relationship between CEO transformational leadership behavior and organizational routine updating. And collectivism tendency not only adjusts the relationship between organizational identity and organizational routine updating, but also further regulates the mediating role of organizational identification in the relationship between CEO transformational leadership behavior and organizational routine updating. To be specific, when the collectivism tendency is lower, the impact of CEO’s transformational leadership behavior on organizational routine updating through organization identification will be more indirect. The conclusions of this study will help scholars to understand the potential intermediate mechanism and boundary conditions of the impact of CEO transformational leadership behavior on the renewal of organizational routines, and effectively guide the practice of the organizational routine updating.

References | Related Articles | Metrics

The Political Connection Preferences of Chinese New Energy Vehicle Companies and Their Impacts on Reputation Investments

Xiong Yongqing, Zhang Zhijian

2023, 35 (1): 222-232.

Abstract ( 141 )

PDF (1330KB) ( 114 )

The reputation mechanism of new energy vehicle (NEV) companies can effectively reduce unethical behaviors such as cheating and subsidy seeking in Chinese NEV companies. This paper focuses on the degree of political connection, which is the most common close relationship between companies and the government under the background of industrial policy implementation, and uses the propensity score matching method to analyze the influence of political connection preferences of Chinese NEV companies on reputation investments and its stage differences. The results reveal that Chinese NEV companies generally have a preference for establishing political connection that can promote reputation investments of both the government and the public, but the preference has no obvious effect on the reputation investments of consumers. However, with the development of the NEV industry, the positive promoting effect of political connection preferences on reputation investments gradually weakens. Thus, the Chinese NEV industry should exploit use of the positive effect of political connection on reputation investments.

References | Related Articles | Metrics

Dynamic Integration Monitoring and Control Based on Buffer Accounting Differential Configuration

Zhang Junguang, Wan Dan

2023, 35 (1): 233-242.

Abstract ( 75 )

PDF (1449KB) ( 102 )

Buffer monitoring is the core content of the critical chain project management method. Existing buffer monitoring methods, which ignore the differences in the setting of trigger points for different activities and lack a quantitative study on the buffer area division, result in the efficiency of buffer management. To solve this problem, this paper proposes a dynamic integrated buffer monitoring method based on buffer accounting differential configuration. The proposed method treats the absorption of risks by project buffer as a kind of time investment. According to the risk tiering idea and activity sensitivity information, the number of buffer accounts corresponding to different activities is distinguished and the number of monitoring areas for activities is set differently. On this basis, an optimal allocation decision model for buffer account amounts is constructed with the goal of maximizing the total amount of consumable buffer in the process of buffering dynamic risk absorption, quantitatively dividing the corresponding ranges of different monitoring areas. Finally, a dynamic integrated buffer monitoring system is established to control the project risk. The experimental results show that the proposed method performs better than the existing methods in five indicators, such as monitoring area frequency distribution, probability of construction being completed earlier than planned, average buffer consumption ratio, average buffer monitoring cost and action warning ratio, which improves the efficiency of the buffering management.

References | Related Articles | Metrics

Interaction Mechanism between Charging Facility Operators’ Investment Decision and the Development of Electric Vehicles

Shi Lefeng, Wang Song, Lv Shengnan

2023, 35 (1): 243-256.

Abstract ( 110 )

PDF (2261KB) ( 113 )

In order to promote the construction of electric vehicle (EV) charging facilities effectively, and to find an efficient way to solve the current unbalance caused by high EV potential market-demand and the insufficient supply of charging facilities, it is necessary to explore the interaction mechanism between investment decision of charging facility operators and the development of EV. For this purpose, this paper firstly constructs an EV dynamic development model based on classic Bass model, which could reflect both the technological progress of EV and the supply improvement of charging facilities; then a dynamic investment decision model of charging facilities operators is formulated, whereby the marginal condition of charging facilities investment is analyzed further. Accordingly, the effectiveness of the existing incentive policies of EV charging facilities is also assessed. The main findings of this paper are as follows: the investors of charging facilities don’t have investment motivation when the marginal benefit of the investment can not reach the special critical value; especially in the initial period of EV development when the expected benefit of charging facilities investment is too far below the critical value to stimulate the investment motivation of the relevant investors; in order to motivate the investment in this stage, it is necessary to speculate some incentive policies; compared with the existing policies, it is found that subsidy based on the installed capacity of EV chargers is the most effective policy. At last, a simulation analysis is presented to demonstrate the main results of this paper.

References | Related Articles | Metrics

Damage to the Reputation of Government-owned Charitable Organizations, Reputation Punishment and Donation of Private Enterprises

Huang Wei, Wang Yang

2023, 35 (1): 257-271.

Abstract ( 112 )

PDF (1405KB) ( 115 )

Reputation is an important intangible asset of charitable organizations. Reputation damage may cause a charitable organization to receive less social donations and even face a survival issue. Using the national survey data of private enterprises’ donation, this paper studies how the reputation damage of government-owned charitable organizations affects private enterprises ’ donations from the perspective of reputation punishment. The empirical results show that the reputation damage of government-owned charitable organizations has the effect of reputation punishment, the donation amount of private enterprises cooperating with them decreases significantly, and this effect spills over to the private charitable organizations; in addition, the reputation punishment mechanism may be out of order, and the donation amount of private enterprises that have a close relationship with the government and a political identity is less affected by the reputation damage of government-owned charitable organizations. It is found that good external institutional environment (such as the development level and social trust level of regional charitable organizations) and the perfect corporate internal social responsibility information disclosure system can help to alleviate the adverse impact of charity reputation damage on private enterprises’ donation. The conclusion of this paper has important theoretical and practical significance for exploring the micro impact mechanism of charity reputation damage and optimizing the reputation management of charitable organizations.

References | Related Articles | Metrics

Industrial Policy Tools, Enterprise Investment Efficiency and Stock Price Crash Rish

Wu Shinong, You Bo, Wang Jianyong, Chen Yunyan

2023, 35 (1): 272-282.

Abstract ( 131 )

PDF (1311KB) ( 151 )

China usually uses three traditional policy tools when promoting the implementation of industrial policies: financial subsidies, tax relief and bank preferential credit. This paper studies the investment efficiency and stock price collapse risk of listed companies benefiting from industrial policies, as well as the mechanisms of the above three policy tools. Using the 2006-2018 China’ s A-share listed companies as a sample, this paper finds the following results. First, companies supported by industrial policies have seen a significant decrease in investment efficiency. On the one hand, the industrial policy reduces the investment efficiency of enterprises entirely by increasing financial subsidies and new bank loans, on the other hand, it reduces the investment efficiency of enterprises partly through tax incentives. Second, the decline of enterprise investment efficiency significantly increases the risk of stock price collapse. Compared with enterprises with less tax incentives and financial subsidies, enterprises that receive more tax incentives and financial subsidies due to industrial policy support have a more significant positive impact on the risk of stock price collapse. Third, compared with enterprises in the highest and lowest groups of new bank loans, enterprises in the middle group of new bank loans have the most significant positive relationship between investment efficiency and stock price collapse risk. This paper first discusses its impact on industrial policy and investment efficiency of beneficiary enterprises and its impact on stock price collapse from the perspective of industrial policy tools, and reveals the relationship between industrial policy and investment efficiency, the relationship between investment efficiency and stock price collapse, as well as the role of three industrial policy tools. It provides new ideas for formulating and adjusting industrial policies and evaluating and improving the efficiency of industrial policy tools.

References | Related Articles | Metrics

Social Trust and Analysts’ Earnings Forecasts

Li Wengui, Bao Jiaolei

2023, 35 (1): 283-297.

Abstract ( 177 )

PDF (1356KB) ( 204 )

This paper theoretically analyzes and empirically tests the influence of social trust on analysts’ earnings forecasts and its mechanism. Using the data of China’s A-share listed non-financial companies from 2007 to 2018, we find that social trust can significantly improve the accuracy of analyst earnings forecasts and reduce the dispersion of forecasts. The improvement effect of social trust on analysts’ earnings forecasts mainly exists in the environment of more perfect legal system or lower market competition. Further research finds that social trust significantly improves the transparency of accounting information and the stability of earnings, and both of them have an important mediating effect between social trust and analysts’ earnings forecast. This paper enriches and expands the research on factors affecting analyst earnings forecast from the perspective of social trust. At the same time, it helps to expand and deepen the research on social trust from the perspective of analysts' earnings forecasts. It also shows that, while promoting the construction of the rule of law, the government should also vigorously strengthen integrity construction and cultivate a better social trust environment to promote the high-quality development of the capital market.

References | Related Articles | Metrics

The Mechanism of Entrepreneurial Supply Chain’s Effect on New Venture’s Performance: A Qualitative Comparative Analysis Based on the Configurational Perspective

Ma Hongjia, Xiao Bin, Zheng Xiulian

2023, 35 (1): 298-309.

Abstract ( 133 )

PDF (1407KB) ( 190 )

When faced with increasingly fierce market competition, many new ventures rely on the integration of entrepreneurship and supply chain to achieve unique competitive advantages, thereby overcoming disadvantages related to scale and resources. However, the research on entrepreneurial supply chain is still in infancy, and the existing researches lack an in-depth discussion on the mechanism of entrepreneurial supply chain’s effect on the performance of new ventures. The improvement of new venture performance is faced with resource constraints and opportunistic behaviors of partners. Building entrepreneurial supply chain capabilities and adopting appropriate supply chain governance mechanisms have become the main means for ventures to obtain external entrepreneurial resources and conclude external relations. Existing literatures lack a thorough discussion of the configuration interaction between entrepreneurial supply chain capabilities and governance mechanisms. This study uses 104 auto supplier startups as a sample, and applies the configurational theory and Qualitative Comparative Analysis (QCA) approach to integrate five conditions from entrepreneurial supply chain capabilities and governance mechanisms, in order to explore the mechanism of multiple conjunctural causation of differences in venture performance. Results show that: There are 3 configuration solutions to drive high performance and 2 configuration solutions to drive non-high performance. High-level capabilities and high-level governance mechanisms appear simultaneously in the three high-performance configurations, which interact to improve the venture performance, while in non-high-performance configurations, capabilities and governance mechanisms do not appear at the same time. The findings reveal the existence of asymmetric causality compared with high-performance driving mechanisms, which helps to improve the understanding of the substitution and complementarity of key elements of new venture, and provides fruitful results for the improvement of the venture performance in the supply chain.

References | Related Articles | Metrics

Network Equilibrium of Platform Supply Chain Considering Fairness Concerns of Micro-sized Retailers

Hua Lianlian, Zhang Lili, Wang Jianguo, Liu Yanqiu

2023, 35 (1): 310-323,352.

Abstract ( 106 )

PDF (2560KB) ( 138 )

As a new organizational form rising rapidly under the development of digital economy, platform has become the core subject of the development of new forms of platform economy by connecting and integrating upstream supply resources and meeting the needs of downstream small retail enterprises. This paper constructs a supply chain network consisting of multiple brand operators, distributors (platform operators and traditional distributors), micro-sized retailers and demand markets, describes the optimal operation strategy and equilibrium conditions of supply chain members by using variational inequality, and reveals the influence of micro-sized retailers’ fair concern behavior and platform service level on equilibrium decision-making at all levels of the supply chain. The results show that when considering the fair concern behavior of micro-sized retailers under the platform operation mode, the greater the concern degree is, the higher the profit of the main body of the supply chain network will be, thus providing the possibility for small retailers to realize fairness. When the service level of the platform improves, the corresponding service cost increases. When the service level is within the range of [0.3,0.5], it is conducive to the overall coordination of the supply chain. The overall profitability of the supply chain is better when both the equity concerns of small retailers and the level of service provided by the platform are taken into account than when only one of the factors is taken into account.

References | Related Articles | Metrics

The Mechanism of How Public Crisis Information Response Influences Public Reaction

Su Lujun, Feng Shan

2023, 35 (1): 324-338.

Abstract ( 128 )

PDF (2533KB) ( 193 )

The break-out of the COVID-19 in 2020 exposed a series of problems in china’s public crisis management. It is of great significance to study the impact mechanism of public crisis information response. In this paper, the Yancheng 3.21 Explosion in 2019 and the Tianjin 8.12 Explosion in 2015 are used in the double case study method. Through the analysis tools of sentiment analysis and topic clustering, the mechanism of how public crisis information response influences public behavior is constructed. The findings are as follows. (1) The public crisis information response mode has two types of crisis information response modes: binary-led and ternary-cooperative. (2) The degree of matching between public information supply and information demand will affect the public’s choice of reaction. When information supply does not match information demand, the public tends to adopt passive avoidance behaviors; when information supply matches information demand, the public tends to adopt positive coping behaviors. (3) There are reciprocal crisis evolution mechanism and active crisis evolution mechanism in public crisis event evolution mechanism, which are affected by the crisis information response mode. The results of this paper enrich the theory of crisis communication and have a guiding significance for public crisis managers.

References | Related Articles | Metrics

The Growth Path and Formation Mechanism of Tourist Destination Brand Ecosphere Based on the Perspective of Resource-focused Action

Yu Kefa, Wu Haiping, Jin Mingxing, Chen Yingkang

2023, 35 (1): 339-352.

Abstract ( 170 )

PDF (2841KB) ( 203 )

Building a brand ecosphere is of great significance to the sustainable development of tourism destinations, but the academic community has not made a deep research on it. Based on the perspective of resource action, this paper uses the method of case study and selects Huangling tourism destination in Wuyuan, Jiangxi Province as the research object to analyze its resource allocation and action characteristics driven by the dual factors of leaders and market pressure, and finally summarize the formation mechanism model of tourism destination brand ecosystem. The research finds that: (1) the formation of tourism destination brand ecosystem will go through three stages: core circle construction, industry circle improvement and ecosphere formation; (2) the formation process of tourism destination brand ecosphere, resource action will experience an evolution from resource patchwork, resource arrangement to resource concerto, and the resource utilization ability will also experience a transition from reconstruction ability to integration ability and then to collaboration ability; (3) the purpose of building the tourism destination brand ecosystem is to break through the industrial and organizational boundaries, and finally form a systematic competitive advantage through the empowerment and value creation of multiple subjects. The research conclusion of this paper expands the theory of brand growth and brand ecology, and provides useful management enlightenment for the practice of tourism destination brand construction.

References | Related Articles | Metrics

Table of Content