Management Review

Transportation and Communication Infrastructures: Development, Regional Disparities and Economic Effects

Xue Jing, Zhou Shaojie

2023, 35 (6): 3-14.

Abstract ( 138 )

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Based on provincial panel data of China from 2000 to 2018, the Theil Index and the Global Moran Index are used to analyze the development, evolution and regional disparities of various transportation and communication infrastructures, and spatial econometric models are mainly used to investigate the different economic effects of these various infrastructures. The results show that during the research period, transportation infrastructures in China expanded steadily, the scale of mobile telephone exchanges and cables continued to grow and the scale of fixed telephone exchanges shrank. The economic effects of various transportation infrastructures and communication infrastructures are different. The direct economic effects of transportation infrastructure and mobile communication infrastructure are significant. The increase in railway mileage and the opening of HSR have positive spillover effects on adjacent areas. It is still economically significant for China to promote the transportation infrastructures as they are not surpassed by the communication infrastructures in terms of economic contribution. Additionally, economic effect of the communication infrastructures is related to technological upgrading. The transportation infrastructure network at all levels should be comprehensively improved, the technological transformation and upgrading of the communication infrastructures should be promoted, and the in-depth coverage of the mobile communication network should be accelerated. In the future, attention should be paid to the joint contribution, shared benefits and connectivity of transportation and communication infrastructures.

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Does Venture Capital Affect the Financialization of Enterprises?——Practical Evidence from China Capital Market

Wu Bin, Wo Pengfei, Lou Wenqian

2023, 35 (6): 15-32.

Abstract ( 131 )

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The negative impact of financialization on the high-quality economic development has arouseed attention in the business world, and theoretical researches on the motivation and consequences of financialization have also become a hot spot in academia. This paper takes the 2015—2019 A-share listed manufacturing companies as the research object to discuss what impact venture capital (VC) brings to their financialization. The results show that: (1) the higher proportion of investment a listed company receives from VC, the greater impact it will get in terms of financialization, and compared with state-owned VC, non-state-owned VC has a more significant impact on the company's financialization; (2) the driving effect of VC on non-state-owned enterprises' financialization is more significant than that on state-owned enterprises; and (3) the more competitive market a company operates in, the more significant impact VC will have on its financialization. Further analysis, from the perspective of corporate decision makers, of what impact CEO's background may have on the above mentioned relationship shows that in a company where its CEO has technical background, overseas experience, poverty experience, high level of academic qualification or a long tenure of office, the driving effect of VC on the company's financialization will be weakened or even suppressed. This paper not only reveals the impact of VC on non-financial companies' financialization, and provides a new perspective for the analysis of the motivations of non-financial companies' financialization, but also provides empirical evidence for the government to accurately introduce a policy mix against enterprises' financialization.

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Stay Unscathed or Share the Same Fate: Whether Stock Price Crash Risk Affects Bond Pricing?

Zhang Xueying, Wang Yulin

2023, 35 (6): 33-45,56.

Abstract ( 102 )

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This paper investigates whether the stock price crash risk is priced in bond spread under the same issuer. We find that the stock price crash risk is positively associated with the bond spread, indicating that investors consider stock price crashes as an important risk factor when trading bonds. In the Chinese context, we further show that the positive impact of stock price crash risk on bond spread is weakened in state-owned enterprise bonds and high-rated bonds. Further tests also show that the positive impact is more significant among the companies with higher risk-taking level, poorer quality of internal control and higher uncertainty of accounting information. This paper examines the economic consequences of the stock price crash risk from the micro perspective, expands the researches on the cross-market factors of bond spread, helps to understand the linkage between China's stock and bond market, and has certain significance for reducing the default risk of corporate bonds and maintaining the stable development of capital market.

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Critical Default Risk Analysis of RMBS

Meng Xiangying, Ren Xinhui, Fang Jinjin, Wei Xianhua

2023, 35 (6): 46-56.

Abstract ( 68 )

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In this paper, we use the data of residential mortgage-backed securities (RMBS) issued by domestic commercial banks as sample to screen the main influencing factors of prepayment risk from three dimensions: macro environment, base asset quality and characteristics of borrowers. Then we construct a cash flow stress test model which includes stress factors such as default rate, default distribution, prepayment rate and other factors, and calculate the corresponding critical default risk. The empirical result demonstrates that the critical default rate of RMBS senior notes is much higher than the historical average level of default rate given the current condition. However, the protective layers of different tranches of RMBS senior notes tend to be broken simultaneously at critical value, indicating that different tranches have the same level of tolerance for default risk. This conclusion provides evidence for commercial banks to measure critical default risk and analyze credit risk premium of RMBS.

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Digital Inclusive Finance, Digital Threshold and Urban-Rural Income Gap

Li Muchen, Feng Sixian

2023, 35 (6): 57-71.

Abstract ( 125 )

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Digital inclusive finance (DIF) can reduce the cost of financial services and alleviate financial information asymmetry, thereby enhancing the sustainability of financial supply and narrowing the urban-rural income gap (URIG). However, the existence of digital divide may expand the URIG. This paper mainly discusses the mechanism and effect of DIF on the URIG in China, as well as the role of digital divide and digital threshold in it. The results show that the development of DIF has generally narrowed the URIG, but the impact of coverage breadth, usage depth, and digitization level are quite different, and there are also differences in the east, middle and west regions; DIF narrows the URIG by promoting employment and increasing non-agricultural employment; when the first-level digital threshold is crossed, the convergence effect of DIF on the URIG is weakened, and when the second-level digital threshold is crossed, the convergence effect is strengthened. Therefore, to create better conditions for further narrowing the URIG, the government should not only prevent digital financial enterprises from forming an excessively digital threshold by using their monopoly position, but also accelerate the construction of digital financial infrastructure.

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Industry-University-Research Collaborative Innovation, Intellectual Property Protection and Technological Innovation Performance——An Empirical Analysis Based on Dynamic Panel Threshold Mechanism

Xiao Zhenhong, Li Yan

2023, 35 (6): 72-81.

Abstract ( 80 )

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The non-linear dynamic threshold model of technological innovation performance driven by university-industry collaborative development is constructed from the perspective of intellectual property protection using panel data of 29 provinces and cities in China from 2009 to 2017 to explore the dynamic threshold effect and spatial and temporal heterogeneity of university-industry collaborative development and intellectual property protection. The empirical results show that when the level of IPR protection intensity is used as the threshold variable, there is a significant double-threshold effect between technological innovation performance and industry-university-research collaboration. As the level of IPR protection increases, the effect of collaborative development between industry-university-research on technological innovation performance changes from negative to positive, and the effect gradually increases, which can then be divided into low IPR protection zone (IPP≤-0.58), medium IPR protection zone (-0.580.50); there is obvious spatial and temporal heterogeneity in the level of IPR protection among regions in China, with the eastern regions being mostly high IPR protection zones and the central and western regions having a lower intensity of IPR protection. Therefore, the regional IP protection system should be strengthened, the coupling and coordination degree of the collaborative innovation system of industry-university-research should be improved, the exchanges between the east, central and western regions should be enhanced, and the regional technological innovation performance should be promoted.

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Research on the Impact of Digital Finance on the Business Model Innovation of Enterprise

Li Junrui, Mai Sheng

2023, 35 (6): 82-91.

Abstract ( 132 )

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With the advantages of high efficiency, intelligence and inclusiveness in the allocation of financial resources, digital finance has not only reshaped the structure and service model of the financial market, but also profoundly affected the innovation activities of enterprises. Taking the A-share non-financial listed companies in Shanghai and Shenzhen from 2011 to 2020 as a sample, this paper explores the influence mechanism of digital finance on enterprise business model innovation. Empirical results show that digital finance can not only directly promote the innovation of enterprise business models, but also indirectly affect the innovation of enterprise business models by reducing transaction costs. At the same time, the digital transformation of enterprises and the dynamics of the external environment have played a positive and negative regulating role respectively. This research not only provides a theoretical basis for digital finance to empower the development of micro-real economy, but also provides a reference for the selection and control of enterprise business model innovation path under the background of digital finance.

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Declining Organization Turnaround: Substantive Innovation or Strategic Innovation?

Yan Jingbo, He Xiaogang, Chen Yuan, Yang Chan

2023, 35 (6): 92-110.

Abstract ( 170 )

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The academic circle has not reached a unified conclusion on whether innovation can help declining organizations realize value reconstruction. This paper takes the substantive innovation and strategic innovation in emerging markets as the analysis unit, re-examines the influence of innovation on the value reconstruction of declining organizations, and discusses their differential impact on the value reconstruction of declining organizations. This paper further integrates the institutional theory, and incorporates three institutional factors (local policy uncertainty, local government support and the nature of enterprise property rights) into the research framework to construct a contingency model for declining organizations. Based on the panel data of 934 Chinese listed companies that are in organizational decline from 2007 to 2018, this paper mainly draws the following conclusions: (1) Both the substantive innovation and strategic innovation have a positive effect on value reconstruction of declining organizations, and substantive innovation contributes more to it; (2) Local policy uncertainty weakened the positive effect of substantive innovation and strategic innovation on value reconstruction of declining organizations; (3) Local government support strengthened the positive effect of substantive innovation and strategic innovation on value reconstruction of declining organizations; and (4) The increase of private capital involvement further promoted the positive effect of substantive innovation and strategic innovation on value reconstruction of declining organizations. Based on the essential characteristics of innovation mechanism in China's emerging markets, this paper re-examines the complex mechanism of how substantive innovation and strategic innovation influence firms' value reconstruction, and reveals the boundary conditions of the impact of innovation on value reconstruction of declining organizations, thus having practical significance for guiding declining organizations on how to achieve the goal of value reconstruction.

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The Mechanism of How Media Coverage Influences High-polluting Enterprises' Green Technology Innovation——Based on the Mediating Effect of Government Environmental Regulation and Public Participation

Chen Yunping, Liu Yan

2023, 35 (6): 111-122.

Abstract ( 116 )

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To find out the mechanism of how media coverage influences high-polluting enterprises' green technology innovation, this paper establishes a theoretical model of the relationship among media coverage, government environmental regulations, public participation and enterprises' green technology innovation, and uses the data of high-polluting listed enterprises from 2012 to 2019 to conduct an empirical research. The results indicate that media coverage measured by reports on environmental pollution plays a significant part in promoting green technological innovation of enterprises. The government environmental regulations play an intermediary role between media coverage and corporate green technological innovation. Specifically, market-incentive instruments play a partial intermediary role between media coverage and enterprises' green technological innovation; command-control instruments play a complete intermediary role. Media coverage will also promote enterprises' green technological innovation by influencing public participation. Therefore, it is necessary to improve the environmental governance function of media coverage, give play to the role of media supervision and reputation mechanisms, and establish an environmental governance system featuring multiple co-governance by the government, enterprises, the public and media, so as to jointly promote the green technology innovation of high-polluting and related enterprises.

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The State Quo of the Business Model Innovation Researches in China: A Dual Oriented Perspective of Anomaly and Typology

Bai Sheng, Shang Xing, Mi Jinlin

2023, 35 (6): 123-133.

Abstract ( 77 )

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Nowadays, it is awkward that domestic business model innovation (BMI) researches contribute little to the science and this is because they, follow the thought of “finding and filling gaps” and use research tool-driven methods. In this paper, we introduce the idea of “double orientation perspective”: obtaining the anomaly-driven perspective of research targets from the conflict, and taking the optimization type as the typology-driven perspective of research objectives. And then we examine the performance of BMI literature in CSSCI (2019—2020). The research conclusions are as follows. (1) Anomaly problems can be divided into three categories: practice without theory, no strong theory and coexistence of multiple strong theory, which help to construct more interesting research targets. (2) The research results of solving anomaly problems fall into three categories: new theory, theoretical optimization and theoretical integration. This typology-driven idea will generate more research contributions in optimizing theory and guiding practitioners. (3) The existing BMI literature in China has accumulated a lot of achievements in antecedent variables, basic constructs, outcome variables and intermediate variables. However, there is an imbalance in giving research targets, implementing theorizing process, obtaining results and adopting theoretical test methods, which also opens new research space. These works provide meaningful reference for the existing BMI researches to find a way out, and add new contents to the existing management research methodology.

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CEO Overconfidence and Corporate Ambidextrous Innovation

Tan Manqing

2023, 35 (6): 134-145.

Abstract ( 94 )

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Whether CEO's overconfident tendency can promote corporate innovation has attracted wide scholarly attention. However, researches in this regard have not yet reached a consistent conclusion. The possible reason is that previous studies regard innovation as a whole, but few have explored the impact of CEO on specific innovations. Based on ambidextrous perspective, this paper takes the data of knowledge-intensive firms listed in Shanghai and Shenzhen A-share market from 2012 to 2017 and empirically examines how an overconfident CEO influences the exploration and exploitation in ambidextrous innovation through aggressive technology strategies, and the moderating effect of subordinate top management team (TMT) governance on this mechanism. It is found that CEO overconfidence has a heterogeneous effect on different dimensions of ambidextrous innovation, namely it can significantly facilitate exploratory innovation but inhibit exploitative innovation, in which technology aggressiveness plays a partially mediating role. Specifically, a CEO with an overconfident tendency tends to drive more challenging exploratory innovation by promoting aggressive technology strategies, but pay less attention to exploitative innovation. Meanwhile, TMT governance can effectively moderate the relationship between CEO overconfidence and technology strategies as well as ambidextrous innovation. The findings provide theoretical implications for researches on how to combine upper echelon theory with ambidextrous innovation research.

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Research on the Incentive Effect of Blockchain Token on Knowledge Sharing Behavior——Taking Steemit Community as an Example

Tang Hongting, Li Zhihong, Zhang Yanlin, He Jiahao

2023, 35 (6): 146-159,170.

Abstract ( 90 )

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Traditional knowledge communities often have such problems as low quality of knowledge sharing and insufficient knowledge incentives. The emergence of knowledge community based on blockchain-token provides a solution for online knowledge incentives. However, the incentive effect of blockchain-tokens is still unclear in practice. To this end, this paper takes the Steemit community as the research object, and analyzes the effect of token incentives in the knowledge community by employing the panel vector autoregression model. The empirical results show that token incentives have a positive impact on the quality of knowledge sharing, but a negative impact on the amount of knowledge sharing. Besides, compared with social interaction, token incentives have a smaller impact on users' knowledge sharing behavior. Based on the above conclusions, this paper analyzes the main reasons and puts forward corresponding suggestions on the token design and knowledge governance for blockchain-based knowledge community.

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E-commerce Platform Store Brand Introduction and Pricing Sequence Selection

Yu Dongdong, Luo Chunlin, Tian Xin, Wan Miyu

2023, 35 (6): 160-170.

Abstract ( 102 )

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Store brand strategy has become crucial for e-commerce platforms to gain competitive advantage. This paper explores the impact of pricing sequence on store brand introduction in a supply chain consisting of two competing manufacturers and one e-commerce platform. The results show that store brand introduction has competition effect and pricing effect, and there exists a boundary equilibrium, in which the sales volume of store brand is negligible, but its presence enables the e-commerce platform to enhance the competitiveness of upstream companies and obtain the wholesale price advantage. Moreover, the equilibrium may have a wider range when the e-commerce platform firstly sets retail price. The manufacturer who signs agency selling contract prefers to set retail price first, while the e-commerce platform and the manufacturer who sign reselling contract may have the second-mover advantage. As the fixed cost of introducing store brand increases, the manufacturers' preference for agency sales contracts decreases.

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Be Born at Hardship: Graduation in Economic Downturn and Employee Job Performance

Zhou Huaikang, Liu Shanshi, Peng Qiuping, Jiang Jianwu

2023, 35 (6): 171-181.

Abstract ( 169 )

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Short-term macro-environmental factors may have an important impact on an individual's long-term career development. However, at present, the impact of economic downturn on individual job performance is still poorly understood. According to the imprinting theory, this paper uses the human resources file data of a large high-tech enterprise in China for the period 2014—2018, and explores the continuous impact of the economic downturn on the follow-up job performance of individuals when they graduate. The study finds that employees who experienced economic downturn generally have better follow-up performance than employees who did not experience economic downturn upon graduation. The boundary effect test shows that the effect is more pronounced when employees graduate from prestigious schools and the performance of team colleagues is better, but decreases as their career extends. Further studies find that: (1) the greater extent and depth of economic downturn new employees suffer upon graduation, the more positive impact the downturn has on their job performance; and (2) those who suffer an economic downturn upon graduation will be more active in seeking job training in the subsequent stages of their career.

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Reflexivity Mediates between Job Autonomy and Creative Problem Solving: The Moderating Effect of Employees' Self-expectations for Creativity

Tu Xingyong, Wang Yi, Liu Leijie, Zhang Yiping, Jiang Jing

2023, 35 (6): 182-192.

Abstract ( 119 )

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Creative problem solving has become a key factor to reflect the value of individual work and maintain the sustainable development for organizations. Creative problem solving involves complex, multifaceted, nonconventionally structured problems that require arduous and extensive cognitive reflexive processes, so how to improve employees' creativity problem solving capacity becomes one of the problems that need to be solved in the field of organizational management. This paper, based on the theory of goal orientation and sensemaking theory, constructs a moderated model of total effect to systematically investigate the mediating mechanism and situational effect between job autonomy and employee creative problem solving. The results of questionnaire data analysis at two time points show that: (1) job autonomy has a significant positive effect on creative problem solving; (2) reflexivity partially mediates between work autonomy and creative problem solving; and (3) employees' self-expectations for creativity reinforces the effect of job autonomy on creative problem solving. The conclusions deepen the mediation mechanism of reflexivity and its effectiveness, enrich the situational scope of employees' self-expectations for creativity, and provide a new thinking and management enlightenment for improving employee's creative problem solving.

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The Impact of Need for Uniqueness on Employees' Radical and Incremental Creativity

Xu Yuping, Yan Rongxiao, Liu Zhiqiang, Cheng Huan, Wei Lihua

2023, 35 (6): 193-204.

Abstract ( 131 )

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In this paper, we investigate the differential impacts of need for uniqueness (NFU) on employees' radical versus incremental creativity. Based on uniqueness theory, we argue that employees with high NFU are likely to demonstrate more radical than incremental creativity. In a field study using data collected from 337 dyads of employees and their immediate supervisors, we find that NFU is significantly and positively related to employees' radical and incremental creativity. NFU has a stronger positive relationship with employees' radical creativity than with employees' incremental creativity. Creative deviance is a key mechanism that enables employees with high NFU to exhibit radical and incremental creativity. The influence of NFU on employees' radical creativity through creative deviance is stronger than that of NFU on employees' incremental creativity through creative deviance. Inclusive leadership moderates the positive relationship between NFU and creative deviance and enhances the positive indirect effect of NFU on employee radical and incremental creativity. The conditional indirect relationship between NFU and employee radical creativity is significantly greater than the conditional indirect relationship between NFU and employee incremental creativity. Theoretical and practical implications are discussed.

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A Research on the Mechanism of How Multi-factor Linkage Effect Drives Knowledge Workers' Taking Charge: Qualitative Comparative Analysis Based on AMO Theory

Ma Ling, Liu Shuo, Zhao Shuming, Wang Siqi

2023, 35 (6): 205-216.

Abstract ( 100 )

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With the increasing environmental uncertainty, how to motivate knowledge workers' taking charge behavior has become a focus of researchers at home and abroad. Based on AMO theory and fsQCA method, this paper makes a two-stage survey of knowledge workers in 210 enterprises and explores the driving configuration of knowledge workers' taking charge behavior driven by multi-factors such as role breadth self-efficacy, prosocial motivation, empowering leadership, task significance and organizational support. It is found that the driving mechanism of knowledge workers' high taking charge behavior has six configurations, which can be summarized and integrated into three types: capability-driving based on leadership empowerment, capability-driving based on task guidance and motivation-driving based on leadership empowerment. The driving mechanism of knowledge workers' non high taking charge behavior has four configurations, which are divided into two types: self-efficacy deficiency and organizational support deficiency. And there is an asymmetric causal relationship with the driving configuration of high taking charge behavior. This paper reveals effective ways to motivate knowledge workers to take charge, which are helpful for enterprises to achieve sustainable development in the face of challenges and competition.

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The Differences of Employee Welfare Practice in Private Enterprises: An Empirical Study Based on the Perspective of Institutional Imprinting

Zou Likai, Tang Jifeng, Liang Qiang

2023, 35 (6): 217-232.

Abstract ( 80 )

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With the continuous improvement of the economic strength of private enterprises, their external corporate social responsibility behaviors, such as charitable donation, pollution control and product safety, are becoming more and more active, but there are great differences in the practice of employee welfare. What factors lead to the differences in employee welfare practice in private enterprises is worth further exploring. From the perspective of institutional imprinting, this paper argues that the institutional imprinting of private enterprises may have a profound impact on the legitimacy of private enterprises' cognition of employee welfare. Based on the data of the ninth national sample survey of private enterprises, this paper examines the institutional imprinting of employees' welfare practice in private enterprises by examining the reformed private enterprises and experience of in-system. The empirical results show that compared with the non-reformed private enterprises, the welfare level of employees in the reformed private enterprises is higher, and the experience of in-system also has a positive relationship with the welfare level of employees. Further analysis finds that the Party organization in enterprise contributes to the continuation of employee welfare's imprinting. The conclusion of this paper provides a research enlightenment that the practice of employee welfare in private enterprises is closely related to the institutional context of the establishment of enterprises.

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Impact of Alternatives Feedback on Participation Behavior of Outsourcees in the Crowdsourcing Contests

Bi Gongbing, Huang Huijuan, Xu Yang

2023, 35 (6): 233-247.

Abstract ( 78 )

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In the crowdsourcing contests, the outsourcer, as the demand initiator and decision maker, can influence the participation behaviors of outsourcees through information feedback. This paper studies a novel feedback mechanism of how alternatives feedback influences outsourcees' participation behaviors later on. We collect 454 samples from the platform “Zhubajie”. In order to analyze the net effect, we obtain the experimental group (with alternatives) and control group (with no alternatives) by adopting the propensity score matching (PSM). At last, we get 2,698 unbalanced panel data in days. Based on these samples, we construct a difference-in-differences model, and the results suggest that alternatives feedback in process has a negative effect on outsourcees' willingness to participation, and the effect on low-skilled outsourcees is greater. However, the feedback can increase the average number of submissions of a single outsourcee, which indicates the feedback mechanism will motivate outsourcees to make greater efforts. In addition, after considering the moderating effects of prize attractiveness, the number of alternatives and transparency of contests, we find that prize attractiveness has no significant effect on feedback results, and by contrast, the less alternatives and the more transparent contest outsourcees face, the more significant effect feedback will have on outsourcees' skill level, but the effect of feedback on outsourcees' willingness to participation is not influenced by these factors.

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The Evolutionary Game of Quality Regulation among Government, Enterprise and Consumer in the Social Media Environment

Zhao Zheyun, Jin Linlin, Liu Yumin, Liu Li

2023, 35 (6): 248-261.

Abstract ( 121 )

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Product quality issue bears on national image, market stability, and consumer rights and interests, and has been one of the hot issues attracting wide concern from all walks of life. This paper introduces the consumption substitution cooperative effect factors, constructs a tripartite evolutionary game model of government, enterprises and consumers in the context of social media, and discusses the mechanism of how consumer complaints influence the strategy choice of relevant subjects by using stability analysis and numerical simulation. The main conclusions are as follows: the effects of social media on enterprise behavior are different at different degree of consumption substitution; social media is only able to supervise government regulation with short-term effectiveness. Both social media and government behavior can affect consumer complaints, but the incentive degree of social media to consumer complaints is weakened with the improvement of government supervision enthusiasm. Finally, based on the conclusion of game theory analysis, we suggest giving play to the multi-party cooperation in supervising product quality under the social media environment.

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Multilateral Market Equilibrium Mechanism and Pricing Decision under the C2C Sharing Pattern

Liu Kan, Zhou Hongrui, Qu Yuling

2023, 35 (6): 262-274.

Abstract ( 72 )

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The emergence of sharing products increases new consumption and supply channels, which not only changes individuals' consumption patterns, but also affects the supply-consumption relationship of traditional products, thereby forming a new multilateral market equilibrium. Due to the characteristics of two-sided market and network externalities of sharing platform, the new multilateral market equilibrium depends on the subjective initiative of participants in C2C sharing pattern, the externalities of two-sided market of sharing platform and their interaction. This study identifies the differences of participants through the differences in perceived value. On the basis of the two-sided market externality interaction, a three-dimensional Hotelling model is constructed to explore the equilibrium mechanism of two-sided market of sharing platform and the tripartite market of product consumption under the intervention of sharing products from two dimensions: the equilibrium of two-sided market of sharing products and the equilibrium of tripartite market under the intervention of sharing products (sharing consumption, traditional consumption, non-consumption). Then, this study recognizes the optimal pricing strategy of sharing platform and traditional economic platform, providing the participants in sharing economy with the foundation of formulating relevant strategies. The findings of this study are as follows. In the C2C sharing pattern, the development scale of potential demand is closely related to the pricing decisions in sharing economy and positively affected by the amount of products on platform (sharing platform and traditional platform), and perceived value differences and externalities in two-sided market play a moderating role in product consumption decision-making; The optimal pricing decision of sharing platform is closely related to the externalities of the supply market, the perceived value differences of suppliers and the supply cost, but has little to do with the consumer market; The maximum profit of sharing platform is positively influenced by the pricing decision and product utility of the similar products, and the externalities and perceived value differences of supply market, but negatively affected by consumer market externalities and the amount of products on traditional platform; When the commission rate of sharing platform is lower than a threshold, traditional platform has the largest profit which is closely related to the supply price and commission rate of sharing products.

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Robust Optimization-based Inventory Level and Allocation Strategy for Sharing Platform under Service Level Constraint

Qiu Ruozhen, Ji Yuanyuan, Shao Songshi

2023, 35 (6): 275-287.

Abstract ( 79 )

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Assuming there is a supply chain composed of a single inventory sharing platform and multiple retailers, this paper studies the optimal inventory level and allocation strategies of the inventory sharing platform with and without demand information sharing. A robust optimization model is established, with the retailer's service level constraint taken into consideration and only demand mean and variance information known. Under the condition of information sharing, the inventory sharing platform can accurately obtain the retailers' demand mean and variance. The retailer's service level constraint is transformed into an easy-to-handle chance constraint problem. Under that condition, the optimal inventory level and allocation strategies are deduced, and the changes of the strategies with the changes of the related parameters are analyzed. Under the condition of not sharing demand information, the inventory sharing platform only knows the uncertain set of the retailers' demand mean and variance. In particular, the ellipsoidal uncertain set is used to describe the mean and variance of uncertain demand, the dual theory is used to transform the inventory optimization model and studies are conducted to analyze the impact of information sharing on the optimal inventory level and allocation strategy. The results show that, under different information conditions, the inventory level of the inventory sharing platform increases with the increase of the mean, variance and service level requirements; the information shared by the retailers has a positive impact on the inventory optimization of the inventory sharing platform, namely, the better information sharing among the retailers, the lower inventory level on the inventory sharing platform; when the retailers do not share information, the inventory level of the inventory sharing platform increases with the uncertainty of mean and variance increases, and the uncertainty of mean has a greater impact on the inventory level.

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Research on Navigation Congestion Charging Mechanism of Hydro-junction Based on Bi-level Programming

Zhao Xu, Yin Xichen, Gao Pan, Hu Bin

2023, 35 (6): 288-300.

Abstract ( 69 )

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Aiming at the problem of traffic congestion in hydro-junction, a navigation improvement strategy that introduces a congestion charging mechanism is discussed. First of all, considering the heterogeneity of dam-passing methods, a dam-passing cost function is established to reflect the transfer patterns of ship passing periods and methods, and based on this, an analysis is made to find what types of ships are the key to alleviating traffic congestion. Secondly, a bi-level programming model is adopted, with the total cost of the dam-passing system and the economic and environmental costs of the ship as the upper and lower optimization targets. The synergistic mechanism of charging for navigable buildings and reducing transportation costs for crossing-dam is explored. Finally, the Three Gorges Project is taken as an example for analysis. The results show that traffic congestion is caused mainly by ships with high cargo capacity, so introducing a toll mechanism can significantly alleviate the traffic congestion, but this will result in an increase in the total cost of the dam-passing system. Crossing-dam transportation can make up for the lack of capacity of the dam, but cannot alleviate the traffic congestion in a certain period of time. The implementation of the coordinated strategy of crossing-dam highway toll reduction and congestion tolling can further control the total cost while increasing navigation efficiency, but the rate of fare reduction must match the passing capacity.

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Decision Making of Reverse Supply Chain Considering Value Co-creation and Corporate Social Responsibility

Xu Minli, Ni Yongjian, Jian Huiyun

2023, 35 (6): 301-310.

Abstract ( 83 )

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Considering the two-stage reverse supply chain composed of Internet recycling platform and consumer groups, we study the effects of value co-creation and corporate social responsibility (CSR) of the Internet recycling platform on the decision making and profit of supply chain members by using Stackelberg game theory. The results show that the value co-creation between the Internet recycling platform and consumers is conducive to shaping the brand image, improving the recycling experience of consumers, and improving the profits of the recycling platform, consumers benefits and total social welfare. The CSR behavior of the Internet recycling platform is beneficial to increasing the recycling price and promoting the recycling of waste products. The total benefits of the recycling platform, consumer benefits and total social welfare increase with the degree of CSR taking, but this behavior will damage the economic profit of the recycling platform to some extent. The CSR undertaken by the Internet recycling platform can effectively drive consumers to participate in value co-creation, and the value co-creation carried out by the recycling platform can make up for the profit loss caused by its CSR behavior under certain conditions. The combination of the CSR behavior of the recycling platform and value co-creation can enhance consumers' recycling enthusiasm and effectively promote product recycling.

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A Study on Regional Emergency Logistics System Elements Identification and Inter-element Interaction Model for Accident-type Disasters

Ma Wenxuan, Wen Xin, Xu Jian

2023, 35 (6): 311-322.

Abstract ( 73 )

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The frequent occurrence of accident-type disasters has caused widespread concern in emergency logistics of many countries. Therefore, the study on the regional emergency logistics system for accident-type disasters is very crucial. Identifying the component elements of the system and exploring the mechanism of interaction among various elements are the prerequisite and basis for solving this problem. Based on 30 accident-type disaster cases, the study uses grounded theory to carry out a three-level coding of the original data, identifies seven types of component elements and determines the interaction relationship model among them. The results prove that the component elements of the regional emergency logistics system for accident-type disasters include “command layout”, “policy supervision”, “aftermath disposal”, “integration and coordination”, “innovative development”, “contingency plan” and “information sharing”. The interaction model is composed of “internal drive”, “external guidance” and “intermediate connection” modules. “Command layout”, “policy supervision”, “aftermath disposal” and “integration and coordination” are the elements that directly act on “internal drive” module; “innovative development” and “contingency plan” are the elements that indirectly act on the “external guidance” module; “information sharing” is the element that cyclically acts on the “intermediate connection” module. The study will enrich the theoretical results in the field of emergency logistics and strengthen the theoretical basis for the construction of the regional emergency logistics system for accident-type disasters as the findings are objective, universally applicable and usable for reference and practice.

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Research on Technology Catch-up Mode of Commercial Aircraft Led by Latecomer Enterprise: From Complex System Management Perspective

Ouyang Taohua, Zeng Delin

2023, 35 (6): 323-334.

Abstract ( 102 )

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Commercial aircraft is recognized as the “crown” of the advanced equipment manufacturing industry, which embodies the comprehensive strength of a country. However, how enterprises in late-developing countries can realize the technological catch-up of such complex products is still under-explored. From the perspective of complex system management, we explore the technology catch-up model of complex products and draw two conclusions: (1) Using complex system thinking, we analyze the complex specific problems and characteristics of commercial aircraft technology catch-up; (2) Using the holism and reductionism of complex system, we construct a technology catch-up model oriented to solving key problems. Our study contributes theoretically by: (1) introducing complex system thinking into the research field of advanced equipment technology catch-up for the first time; and (2) extracting the characteristics and models of complex product technology catch-up. Furthermore, our study has great enlightenment to the technological innovation of China's complex product enterprises.

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Research on the Formation Mechanism of Construction Logic of the Enterprise-centered Open Innovation Ecosystem

Han Shaojie, Su Jingqin

2023, 35 (6): 335-352.

Abstract ( 99 )

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With the development of open innovation paradigm and innovation ecosystem, the enterprise-centered open innovation ecosystem (OIE) becomes the new trend of theory research and industry development. This paper conducts an exploratory multi-case study to explore the formation mechanism of different types of construction logic of the enterprise-centered OIE. The case selected comes from the innovation ecosystem of the locomotive innovation ecosystem led by CRRC Dalian, the bearing innovation ecosystem led by ZWZ Group, and the construction machinery innovation ecosystem led by Sany. This paper finds that the construction logic of the enterprise-centered OIE includes opportunity logic, leverage logic and position logic. Their process mechanism of “organizational goal - core development path-strategic action method” is as follows: the opportunity logic has the process mechanism of “identify opportunities to achieve market capture-rapid action-goal-oriented improvisational behavior”; the leverage logic has the process mechanism of “identify and utilize superior resources to achieve transformational upgrade-build a combination of superior resources and complementary resources-collect and supplement complementary resources”; the position logic has the process mechanism of “determine enterprise positioning to achieve differential development-meet the needs of users-piecing together viable resources for a coordinated response”. The three types of construction logic have common characteristics including their organizational goal of differentiating from competitors; the core development path is featured by externality or focusing on external resources; the strategic action method is essentially about jointly using both internal and external resources. These construction logics are influenced by different combinations of 14 kinds of concrete manifestation characteristics of the construction motivation on six hierarchies of the external context and the internal context.

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