Table of Content

28 July 2024, Volume 36 Issue 7 Previous Issue    Next Issue
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Data Factor Management
Economic and Financial Management
Innovation and Entrepreneurship Management
Marketing
Organizational Behavior and Human Resource Management
Organization and Strategic Management
Case Studies


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Data Factor Management

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Categorization and Pricing of Data as a Factor of Production: An Economic Model Approach Wang Jinzhao, Zhang Xiaoyang, Dou Yifan, Huang Lihua 2024, 36 (7):  3-11.  Abstract ( 215 )   PDF (2027KB) ( 244 )   This paper discusses the pricing of data as a factor of production in the process of circulation with a stylized economic model. This paper differentiates the public data pricing, which aims at maximizing social welfare, and the commercial data pricing, which aims at maximizing profit. The model reveals two important takeaways: first, the goals of social welfare maximization and profit maximization may converge in the data economy, which crucially depends on the data quality of the supply side and the data “digestion” and utilization ability of the demand side; secondly, with the improvement of data quality, the price gap between welfare maximization and profit maximization does not change monotonically. Under a certain threshold, the gap grows even larger. The root cause behind this result lies in the uniqueness of the data element—the data itself comes from all citizens, and it may also bring new value and profit to all citizens through integration with other elements. The above conclusions are expected to bring directional implications for the current and future phase of public data operations. References | Related Articles | Metrics

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A Two-level Pricing Model for Public Data Products and Services under the Authorized Operation System Wang Jinxiao, Chen Gang, Tang Ke 2024, 36 (7):  12-23,42.  Abstract ( 201 )   PDF (2476KB) ( 284 )   The authorized operation system of public data has become an important part of leading the circulation of public data and unleashing the vitality of the digital economy. The pricing of public data products under the authorized operation system has attracted widespread attention from society. Taking practical needs as the starting point, this paper establishes a two-level pricing model for public data products from the perspective of the entire lifecycle of public data operation for the first time, based on the two-level development model of public data. According to the cost-premium method of value evaluation, public data product prices are divided into two parts: the premium for authorized usage fee for primary development and the premium for technical service fee for secondary development. At the same time, the value evaluation of public data resources is included in the price formation mechanism, and a public data resource value evaluation system is constructed based on the Analytic Hierarchy Process and Fuzzy Comprehensive Evaluation Method (AHP-FCEM). The practical process of the two-level pricing model is demonstrated through a specific example. Finally, corresponding policy recommendations are proposed following the two-level pricing model and value evaluation system. References | Related Articles | Metrics

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Research on Optimal Design of Incentive Strategy for Data Sharing in Industrial Internet Platform under Supplier Access Restriction Feng Nan, Cheng Zhiwen, Feng Haiyang, Li Minqiang 2024, 36 (7):  24-42.  Abstract ( 76 )   PDF (3099KB) ( 159 )   The new generation infrastructure construction, with a focus on the industrial internet, has emerged as a vital element of China’s emerging strategic industries. However, the expanding scale of industrial internet development also brings significant hidden risks in terms of data security. In this paper, we refine the subject attributes, behavior decision-making paradigms and interaction rules, and establish a data sharing model for industrial internet platform based on supplier access restriction. Through simulation experiments, we study the behavior changes of micro subjects under different parameter settings, and explore effective strategies for incentivizing data sharing, so as to promote the secure circulation and sharing of industrial enterprise data in China, thereby creating greater social value. The research results demonstrate that the proposed access mechanism with supplier access restriction and incentive strategy have a significant impact on promoting data sharing. Moreover, they can reduce the adverse impact of data privacy leakage risk on the data security investment of enterprises on both supply and demand sides. Additionally, these mechanisms can guide industrial internet platforms, supply side and demand side to form the optimal security management scheme, thereby improving the overall social welfare. References | Related Articles | Metrics

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Research on Risk Classification Supervision Strategy of Cross-border Data Flow Pan Dapeng, Hao Yajie, Qiao Penghua, Zhang Ziqiong 2024, 36 (7):  43-53.  Abstract ( 83 )   PDF (2845KB) ( 118 )   In the digital era, data is regarded as an important strategic resource, and with the continuous accumulation of data and the continuous development of technology, the risk and challenge of cross-border data flow are also increasing. How to develop regulatory policies to protect data security and privacy rights has become a global issue. In this paper, a model of the game between the government and enterprises is constructed for theoretical analysis, and the conclusion is verified by numerical simulation. The results show that in the long run, the government is bound to adopt the post-accountability regulation strategy. From the perspective of enterprises, when the total amount of data is small, the industry with a low proportion of prohibited cross-border data will stabilize in the state of compliance operation, while the industry with a high proportion of prohibited cross-border data will stabilize in the state of violation operation. When the overall data volume is large, some industries with a high proportion of prohibited cross-border data will also enter the compliant operation state, and only industries with a specific intermediate proportion of prohibited cross-border data will continue to stabilize in the illegal operation state. In addition, prohibiting the premium growth of cross-border data value will drive more industries into the state of illegal operations. The conclusion of this paper helps clarify the basic logic of the change of business strategy in the cross-border data business, discover the evolution law of the policy implementation process, and provide theoretical basis and reference for the formulation of regulatory policies on cross-border data flow in China. References | Related Articles | Metrics

Economic and Financial Management

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Income and Inequality Effects of Air Pollution and Its Abatement in China: An Analysis of Four Types of Incomes of Urban and Rural Residents Ma Ben, Zhao Kang, Zhang Chentao 2024, 36 (7):  54-67.  Abstract ( 58 )   PDF (1331KB) ( 58 )   Improving environmental quality and realizing balanced income growth are two key points for China’s transition to a sustainable society. However, there exists complex coupling links among environmental pollution, pollutant reduction, and residential income in the context of China. The paper constructs city-level panel datasets of China from 2000 to 2018 to conduct an in-depth empirical analysis of income and inequality effects of air pollution and its control measures. The disposable income of urban and rural residents is employed for the first time together with its components of wage, operating, and property income. The instrument variables are used to obtain more rigorous casual effect including the number of days with air temperature inversion and environment-related sentences proportion in city’s report on the work of the government. The innovative combination of panel-data quantile regression with instrument variables is used to investigate the non-linear income effect on different quantiles of income, air pollution and environmental regulation, while avoiding endogenous problems. Empirical results show that air pollution in China significantly reduces income of both urban and rural residents. The effect on rural residents is more substantial than that on urbanites. The asymmetric shock exacerbates income inequality of urban and rural residents, and the similar situation holds for wage and operating income. In contrast, industrial pollutant abatement can increase income of residents. Although the incremental effect on rural residents is more substantial than that on urbanites, the industrial pollutant abatement cannot significantly alleviate urban-rural income gap. The non-linear analysis demonstrates that air pollution will exert greater shock on income of low-income groups. The heavier the air pollution is, the more income shock will happen for local residents. However, the incremental effect of industrial pollutant abatement presents a weakening trend when environmental regulation becomes more stringent. Based on the Chinese Household Income Project (CHIP) of 2013 dataset, empirical analysis confirms that health human capital is one of the key channels for air pollution to affect the multidimensional income of residents we use. The primary policy implication is that urban-rural integration deserves paying additional attention when air pollution control program is further implemented in China. The unbalanced income shock on heavily polluted areas and low-income groups should be addressed properly through adopting more pluralistic environmental regulations to facilitate a balanced income growth in China. References | Related Articles | Metrics

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A Study of the Impact of Noncognitive Abilities on the Relative Poverty of Farm Households—An Empirical Analysis Based on China Family Panel Studies Data Lu Yuanquan, Meng Yuan, Chen Li 2024, 36 (7):  68-81,95.  Abstract ( 44 )   PDF (1333KB) ( 49 )   Reducing the relative poverty of farm families is a crucial step in achieving the objective of collective prosperity because China’s approach to combating poverty has moved from eliminating absolute poverty to targeting at relative poverty. The Probit model and the mediating effect model are used to systematically evaluate the impact of noncognitive ability on the relative poverty of farm households from both objective and subjective criteria and the mechanism underlying the impact. Based on the new human capital theory, this analysis builds a comprehensive index of noncognitive ability from five dimensions: rigor, extroversion, conformity, openness, and emotional stability. According to the findings, farmers’ objective and subjective relative poverty decreases significantly as their noncognitive ability improves. For every unit increase in noncognitive ability, the probability of objective and subjective relative poverty decreases by 28.54% and 20.89%, respectively. Additionally, the five dimensions have various implications for the relative poverty of farm families, both objectively and subjectively. When the aforementioned results are examined using instrumental factors, propensity score matching, and placebo testing, they remain valid. Further research shows that noncognitive ability has very different effects on farm households’ objective and subjective relative poverty, depending on their level of economic development, household head gender and educational level. For example, noncognitive ability has a stronger inhibitory effect on the relative poverty of male-headed and well-educated farm households in eastern China. According to the mechanism test, noncognitive ability reduces objective relative poverty via off-farm employment and social capital, but off-farm employment reduces subjective relative poverty. The aforementioned results provide fresh justifications and supporting data for reducing the relative poverty of farm families and fostering shared prosperity. References | Related Articles | Metrics

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Research on the Enabling Effect of Digital Intelligence Technology on Sustainable Manufacturing and Circular Economy Xie Jifei, Ma Lulu, Yang Yong, Zhang Xiaofei 2024, 36 (7):  82-95.  Abstract ( 92 )   PDF (1497KB) ( 107 )   Digital intelligence technology with big data analytics and artificial intelligence (BDA-AI) as its core has the unique potential of comprehensively enabling sustainable manufacturing (SM) and circular economy (CE). The synergetic development of BDA-AI is an important trend in the current development of global production systems. However, the existing researches on BDA-AI are still focused on the technical level, lacking empirical researches and little attention is paid to its enabling effect on SM and CE. Based on institutional theory, resource-based view, organizational culture and dynamic capability view, a cross domain research model of BDA-AI enabling SM and CE is developed; the primary data of 231 enterprises in China’s equipment manufacturing industry are collected, and the PLS-SEM method is used for empirical test. The results show that external institutional pressures (coercive pressures, normative pressures and mimetic pressures) promote the adoption of BDA-AI by influencing the allocation of internal organizational resources (tangible resources and workforce skills); BDA-AI has a significant enabling effect on SM and CE; big data culture, environmental dynamism and organizational flexibility play significant moderating effects in the model paths. References | Related Articles | Metrics

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How does Online Communication Affect Stock Price Efficiency: A Mechanism Test Based on Investor Attention Luo Jingyi, Ren Fei, Chen Zhanghangjian, Xiong Xiong 2024, 36 (7):  96-112.  Abstract ( 73 )   PDF (1383KB) ( 74 )   Online communication system has opened up a two-way communication channel for listed companies and investors by optimizing the information dissemination process on both the sending side and the receiving side. This paper combines the data in the “ask board secretary” and “hot post” modules of Eastmoney, to measure the information release and reception, and test the function and implementation mechanism of online communication. First, the information release is measured by management replies. From the perspective of information value, this paper divides the replies into direct and indirect replies, and examines the impact of replies with different qualities on the stock price efficiency respectively. Further, we use investor attention to reflect information reception, and test the mechanism of online communication influencing the stock price efficiency. The results show that direct management replies will improve the stock price efficiency, but indirect replies will reduce it. The results of mechanism test show that direct management replies will increase investor attention, and further improve the stock price efficiency. In addition, it is found that in the impact of direct management replies on the stock price efficiency, investor information attention plays a stronger mediating effect than noise attention. References | Related Articles | Metrics

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Research on Stock Index Prediction Based on Online News and Temporal Convolutional Long-short Term Memory Neural Network Cui Xiaoning, Su Danhua, Shang Wei 2024, 36 (7):  113-127.  Abstract ( 57 )   PDF (2641KB) ( 51 )   This paper, based on the opinions of Internet financial news on the rise and fall of the stock market, conducts text analysis and modeling and establishes a sentiment lexicon for stock market, which is used to analyze the positive, negative and neutral sentiment of online financial news. During the process of sentiment analysis, the negative adverbs and the words which have inverse effect are considered. Then the sentiment feature is established for predicting the CSI 300 by temporal convolutional long-short term memory neural network. In terms of the sentiment lexicon, this paper applies Word2Vec to train large amount of Internet financial news, and builds Chinese sentiment lexicon of stock market domain under online news context in a semi-supervised way. This lexicon can effectively identify the opinions and the sentiment of stock market fluctuations in related news. In order to make full use of time series data features with text, a model, TCN-LSTM, combining temporal convolution with long-short term memory network is proposed in this study. Through the empirical analysis and comparisons, it can be found that the TCN-LSTM model is superior to other deep learning models on direction prediction and short-term numerical prediction. This study proposes a sentiment lexicon construction method for specific public opinion topics and establishes a sentiment lexicon based on online news for stock market prediction. Meanwhile, a financial time series prediction method based on deep learning is developed. The integration of temporal convolution and long-short term memory cell solves the tradeoff between local and long-term feature extraction, which is of great significance to improvimg the application effect of deep learning in the field of financial prediction. References | Related Articles | Metrics

Innovation and Entrepreneurship Management

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An Analysis of How to Incentivize Enterprises under Two Input Models to Involve in Basic Research Rong Junmei, Chen Qiang, Jia Ting 2024, 36 (7):  128-141.  Abstract ( 48 )   PDF (3466KB) ( 47 )   Under the construction of an open innovation ecosystem, the government must encourage enterprises to involve in basic research on the one hand and open up more of their scientific research results on the other, so as to amplify the social benefits of knowledge spillovers. Leading technology companies must not only involve in basic research to seize the forefront of future science and technology, but also carry out market-oriented development to maintain business operations. Given that enterprises can involve in basic research in two models: directly on their own or on a consignment basis with universities or scientific research institutions as the consignee, this paper uses the principal-agent theory to build a principal-agent model respectively between government and enterprise, between enterprise and academia and between government and enterprise/academia. Then this paper explores how to design an optimized incentive mechanism through government tax incentives, capital investment and property rights coordination, compares the incentive mechanism and efficiency under different models, and makes a numerical simulation analysis by use of Matlab R2020a. The research shows that: 1) the same government incentive mechanism has different incentive effects on enterprises’ involvement in basic research, depending on their input model; 2) the government should provide differentiated fixed funding support and differentiated degree of openness of property rights for enterprises according to the model of their input into basic research, and especially for the enterprises that adopt the consignment model, the government should guide them to provide property right incentives to the universities or scientific research institutions that achieve innovations; 3) companies with low profit margins can input a high level of effort and resources in basic research, and companies with high profit margins should adopt the consignment model for scientific research under the policy of a high proportion of corporate property rights; 4) the social reputation value brought by the scale of corporate input into basic research has a boosting effect on the scale of input in different models and the level of basic research effort. The longer time it takes to gain return, the less likely to successfully build an open innovation ecosystem and put the consignment model into practice. Finally, in combination with China’s current situation, relevant countermeasures for improving the basic research input incentive mechanism and relevant suggestions for corporate strategies of input into basic research are put forward. References | Related Articles | Metrics

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Research on the Relationship between Boundary-spanning Search and Corporate Responsible Innovation—The Mediating Effect of Flexible Routine Replication and the Moderating Effect of Knowledge Field Activity Cao Xia, Zhang Lanting, Lv Dan 2024, 36 (7):  142-154.  Abstract ( 64 )   PDF (1379KB) ( 101 )   This paper discusses the relationship among boundary-spanning search (BSS), flexible routine replication (FRR), corporate responsibility innovation (CRI) and knowledge field activity (KFA). According to resource-based theory and dynamic capability theory, with flexible routine replication as mediator and knowledge field activity as moderator, structural equation model is employed to explore the mechanism of how boundary-spanning search influences corporate responsible innovation. The study finds that, firstly, boundary-spanning search has a significant positive impact on the corporate responsible innovation. Secondly, flexible routine replication positively mediates the relationship between boundary-spanning search and corporate responsible innovation. Thirdly, knowledge field liveness (KFL) has a positive moderating effect on the relationship between boundary-spanning search and corporate responsibility innovation, while knowledge field openness (KFO) has an inverted U-shaped moderating effect on the relationship between boundary-spanning search and corporate responsibility innovation. This study enriches the quantitative research of responsible innovation and provides theoretical support and practical enlightenment for the implementation of corporate responsible innovation. References | Related Articles | Metrics

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Research on the Long-term Mechanism of Responsible Innovation from the Perspective of Multi-agent Behavior Evolution Han Jing, Li Songmei, Wang Jiutian 2024, 36 (7):  155-167.  Abstract ( 52 )   PDF (7424KB) ( 92 )   In the context of negative externalities of emerging technologies, it is of great significance to explore the strategy evolution rules of enterprises, public and government in the process of implementing responsible innovation to build a long-term mechanism for jointly implementing responsible innovation. Based on evolutionary game theory and prospect theory, this paper constructs a three-party evolutionary game model. The results show that: The government plays the role of advocator, promoter and gatekeeper in the initial stage of responsible innovation development, growth stage and mature internalization stage. The government should constantly adjust the reward and punishment mechanism so that the sum of the reward and punishment for all parties is greater than the cost of participation of all parties. The tripartite stabilization strategy finally evolves into responsible innovation implemented by technology enterprises, participated by the public and minumally intervened by the government. Government subsidy and cost of science and technology enterprises have a significant impact on the decision-making of enterprises and the public, but a small impact on the government decision. The initial state of technology enterprises has a significant impact on the convergence rate of government strategy evolution. Both the initial state of the public and the government have a significant influence on the convergence rate of the strategy evolution of technology enterprises. Moderately improving the value perception and loss aversion sensitivity of decision makers will help the government to actively intervene in order to form a good interaction between all parties. References | Related Articles | Metrics

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‘Lubricant’ or ‘Gravel’ ? The Influence of Regional Guanxi Culture on Corporate Entrepreneurship Xiao Xiaohong, Yu Mei, He Xiaogang, Zhao Qing 2024, 36 (7):  168-180.  Abstract ( 52 )   PDF (2272KB) ( 39 )   Corporate entrepreneurship has become an important means for enterprises to shape new advantages in the new era. Mining the driving factors of corporate entrepreneurship is one of the important research fields of entrepreneurship. From the perspective of regional guanxi culture, this paper discusses its mechanism and related boundary conditions in the formation of corporate entrepreneurship. Based on the data of Chinese listed companies, this study mainly draws the following conclusions. Firstly, the negative impact of regional guanxi culture on corporate entrepreneurship is established. After the endogeneity and robustness test, this result remains unchanged, and the effect is more obvious in regions with high economic development level and high marketization level. Secondly, regional guanxi culture has a negative impact on corporate entrepreneurship because it hinders corporate R&D investment, motivates management team to take an act of agency and provides no space for new business growth. Thirdly, the impact of regional guanxi culture on corporate entrepreneurship will be subject to the intensity of local governments’ innovation policies and national anti-corruption policies, namely, the stronger focus local governments put on innovation and anti-corruption policies, the better they are able to offset or mitigate the inhibitory effect of regional guanxi culture on corporate entrepreneurship. This paper theoretically helps to respond to the outstanding disputes between regional guanxi culture and innovation and entrepreneurship, and provides a theoretical basis for national and regional governments to implement innovation and entrepreneurship policies and whether and how companies should formulate entrepreneurial strategies. References | Related Articles | Metrics

Marketing

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How can High Quality Gain a Favorable Reputation in International Markets?—The Ethical Quality Strategy for Place Brand on Basis of Moral Legitimacy Zhao Weihong, Liu Mengjun 2024, 36 (7):  181-192.  Abstract ( 44 )   PDF (1326KB) ( 39 )   In international business, the high quality in the economic dimension could not always lead to a favorable international reputation. How to build a high quality in the ethical dimension has become a practical issue to address in order to gain a favorable reputation in international markets. This study, based on the theory of moral legitimacy, investigates the relationships among ethical quality strategy for place brand, place brand reputation, and host country’s consumer acceptance. The empirical results from 967 valid sample respondents who have purchased foreign place brand products indicate that each of the ethical quality strategies for place brand (ideal quality conformation, value quality selection, and image quality manipulation) has positive effects on place brand reputation. The relative predictability of these dimensions on place brand reputation also falls into a particular order: Value quality selection is most predictable, followed by image quality manipulation, and then ideal quality conformation. In addition, place warmth and economic development level have different moderating effects on the influence of ethical quality strategy on place brand reputation. Finally, place brand reputation has a positive effect on host country’s consumer acceptance. These results altogether provide valuable insights into the effect of ethical quality strategies on place brand reputation, which encourages place brand managers to be collaboratively involved in ethical quality strategies in international markets. References | Related Articles | Metrics

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Brand Logo and Firm Performance: A Moderated Mediating Effect Test Zhu Bangzhu, Han Le 2024, 36 (7):  193-206.  Abstract ( 77 )   PDF (1300KB) ( 83 )   As an important visual asset, logo plays a critical role in firms’ customer communication and corporate image building. Drawing upon the example of the retail enterprises in Global 500 of 2019, this study uses moderated mediating model to explore the effect of brand logo on firm performance, as well as its mechanism. Results show that there is a significant positive relationship between brand logo and firm performance when other factors remain unaltered. Further mechanism analysis finds that logo leads to a higher profitability by enhancing consumer brand loyalty. The test of moderated mediating effect indicates that consumer familiarity has no influence on the relationship between logo and brand loyalty, but it weakens the positive effect of brand loyalty on firm profitability. This paper expands the relevant theories on the relationship between brand logo and enterprise performance and the underlying mechanism, and has certain practical value for firms to design a logo that can help them improve performance. References | Related Articles | Metrics

Organizational Behavior and Human Resource Management

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The Double-edged Sword Effect of Workplace Mindfulness on Interpersonal Counterproductive Behavior Ni Dan, Zhang Mengyi, Zheng Xiaoming 2024, 36 (7):  207-218.  Abstract ( 114 )   PDF (1305KB) ( 153 )   Many companies have introduced mindfulness training to improve employees’ work effectiveness. However, recent researches have found that mindfulness may have a negative impact in the workplace. Based on trait activation theory, this study aims to examine a double effect of workplace mindfulness on employees’ interpersonal counterproductive behavior. Multiple-wave survey data of 862 employees collected from a high-tech company indicate that compassion for others mediates the relationship between workplace mindfulness and interpersonal counterproductive behavior and self-forgiveness mediates the relationship between workplace mindfulness and interpersonal counterproductive behavior. Perceived team cooperation moderates workplace mindfulness’ relationship with compassion for others and self-forgiveness as well as the above indirect effects. At a higher level of perceived team cooperation, the effect of workplace mindfulness on compassion for others and its indirect effect is strengthened, while the effect of workplace mindfulness on self-forgiveness and its indirect effect is weakened. This study reveals the double-edged effect of workplace mindfulness on interpersonal counterproductive behavior and inspires companies to dialectically treat mindfulness and its interpersonal influences. References | Related Articles | Metrics

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Is Inefficient Labor Investment a Failure of Compensation Incentives?—Evidence Based on Contract Reference Point Effect Chen Yizao, Chen Yan, Liu Jiazhen, Yue Xinru 2024, 36 (7):  219-231.  Abstract ( 56 )   PDF (1349KB) ( 90 )   With the aging of China’s population, improving the efficiency of enterprise labor investment becomes an important means to optimize the allocation of macroeconomic factors and the competitive advantage of micro enterprises. Using the data of China’s A-share listed companies, this paper empirically examines the impact of the reference point effect of executive compensation contract on the efficiency of enterprise labor investment. It is found that the less the executive compensation benefits compared to the contract reference point, the lower the efficiency of enterprise labor investment, and the above effects mainly exist in the vertical reference point and horizontal reference point dimensions. In addition, compared with the benefit area, the reference point effect of executive compensation contract has a higher impact on the labor investment efficiency in the loss area. Furthermore, the vertical reference point effect of executive compensation is significantly higher than the horizontal reference point effect. Heterogeneity analysis shows that the reference point effect of executive compensation contract is more likely to lead to excessive labor investment than insufficient labor investment. Compared with firms with high labor intensity, the impact of the reference point effect of executive compensation contract is greater in firms with low labor intensity. In addition, a sound supervision mechanism (analyst attention, corporate internal control) and incentive mechanism (executive promotion expectation) can significantly alleviate the above effects. The findings of this paper can provide some management enlightenment for improving the efficiency of enterprise labor investment from the perspective of compensation contract governance. References | Related Articles | Metrics

Organization and Strategic Management

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Gentlemen Seek Harmony but Not Uniformity？Non-state-owned Shareholders’ Appointment of Directors and Dissenting Opinions at Chinese SOE’s Board Meetings Kong Xiaoxu, Tang Xiaomeng, Liu Xuexin 2024, 36 (7):  232-245.  Abstract ( 42 )   PDF (1282KB) ( 25 )   Mixed ownership is an important breakthrough of state-owned enterprise reform, and the introduction of non-state-owned capital is a key step to reform state-owned enterprises (SOEs) toward mixed ownership in the new era. However, the existing researches lack relevant theoretical discussions in response to the questions of how directors appointed by a non-state shareholder affect the decision-making of the board of directors, whether dissenting opinions should be dampened in the board meeting and how to further influence the governance performance of state-owned enterprises. This paper takes A-share listed SOEs in Shanghai and Shenzhen stock markets from 2008 to 2019 as samples and uses board resolution announcements as the source of shareholder unit ownership and board voting data of board members, and investigates the mechanism of how directors appointed by non-state-owned shareholders affect governance performance by dissenting from board decisions of state-owned enterprises. It is found that directors appointed by non-state-owned shareholders play a significant positive role in hearing voice of dissent at SOE’s board meetings, and the difficulty of government intervention, the degree of industry competition, and the level of internal control of enterprises play a positive moderating role. Further research finds that non-state-owned shareholders’ appointment of directors can improve SOE’s governance performance by increasing board dissent, thus achieving the result of “harmony but not uniformity”. This study clarifies the internal decision-making mechanism and influence mechanism of the board of directors, as well as the adjustment mechanism of macro and micro factors under the background of the mixed ownership reform of SOEs. The findings complement the study of the governance effect of non-state-owned shareholders and the influencing factors of the board of directors, and also supplement the study of the influencing mechanism of SOE’s performance, providing a reference for further improving the governance mechanism of mixed-ownership enterprises. References | Related Articles | Metrics

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Institutional Pressure, Strategic Response and Corporate Social Responsibility Information Disclosure—An Analysis Based on the System Dynamics Fan Jianhong, Liu Xiaoman, Li Na 2024, 36 (7):  246-260.  Abstract ( 55 )   PDF (3845KB) ( 50 )   In order to explore the impact of institutional pressure on corporate social responsibility information disclosure, from the perspective of legitimacy, this paper incorporates the time dimension and constructs a system dynamics model of institutional pressure, strategic response and corporate social responsibility information disclosure by categorizing institutional pressure into coercive pressure, normative pressure and mimetic pressure, and uses Vensim PLE software to conduct model test, simulation and sensitivity analysis. It is found that institutional pressure can affect corporate social responsibility information disclosure through three strategic responses, namely conformity type, selection type and manipulation type; with the respective value increase of coercive pressure, normative pressure and mimetic pressure, the amount of corporate social responsibility information disclosure under different strategic responses increases. The impact of coercive pressure, normative pressure and mimetic pressure on corporate social responsibility information disclosure is gradually enhanced. The research results can provide suggestions for enterprises to choose reasonable strategic responses under institutional pressure and disclose social responsibility information properly. References | Related Articles | Metrics

Case Studies

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How to Manage Organizational Identity Ambiguity in State-owned Enterprises？—A Longitudinal Case Study Based on Nanxing Xiao Mimi, Huang Feifei, Jia Liangding 2024, 36 (7):  261-274.  Abstract ( 149 )   PDF (1800KB) ( 125 )   State-owned enterprises (SOEs) are the backbone of China’s economic development. The “state-owned” nature of these enterprises imbues them with a high degree of institutional dependency, necessitating the maintenance of an ambiguous organizational identity to adapt to the highly uncertain changes in the institutional environment. This paper employs a case study methodology to analyze the identity ambiguity management process of a state-owned enterprise from 2004 to 2021. The study finds that identity ambiguity exists in various states within SOEs, following an evolutionary path from “opacity→means ambiguity→multivocality→boundary ambiguity.” The interaction between managers and organizational members acts as a driving mechanism for the evolution of states of identity ambiguity. The strategies adopted by senior managers include activating fission, selective response, constructing counter-identities, and emotional resonance, whereas the reactions of organizational members encompass self-examination, group differentiation, intra-group segmentation, and emotional identification. Through effective guidance by managers, identity ambiguity plays a positive role in attracting participation in identity discussions, constructing internal negotiation spaces, reasonably limiting the scope of interpretation, and shaping cross-boundary integration characteristics. By adopting an internal perspective to study the process of identity change in state-owned enterprises, this research serves as an effective complement to existing studies that have been conducted from an external legitimacy perspective. It also enriches the research on the positive aspects of identity ambiguity, providing theoretical insights and practical implications for understanding the organizational identity transformation of SOEs and promoting their high-quality development. References | Related Articles | Metrics

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From “Nobody” to “a Rising Star”: A Study on Institutional Bricolage Strategy and Legitimacy Access for Ecological Participants in the Context of Digitalization He Jinjiang, Zhou Ying, Ni Wenbin 2024, 36 (7):  275-288.  Abstract ( 86 )   PDF (1820KB) ( 64 )   Digital technology provides the possibility for ecological participants to break through their passive position and achieve identity crossing. When crossing identity, participants have to not only deal with resource constraints, but also address the post-crossing institutional pressures. Starting from the institutional bricolage strategy and taking ZhuDing Tea as a case, which is an ecological player in the field of West Lake Tea, this study attempts to analyze the specific process of how ecological participants grow into eco-masters and obtain legitimacy through exploratory institutional bricolage strategy and exploitative institutional bricolage strategy. The study finds that: (1) ecological participants adopt exploratory institutional bricolage and exploitative institutional bricolage strategies in the two stages of building digital platforms and building ecosystems; (2) the exploratory institutional bricolage helps enterprises obtain enterprise-level legitimacy by “aggregating institutional elements”, “reconstructing institutional resources”, and “cross-ecological improvisation”. The exploitative institutional bricolage helps enterprises gain ecosystem-level legitimacy by “focusing on institutional systems”, “reorganizing institutional elements”, and “improvising with the ecology”; (3) an enterprise should choose one of the two institutional bricolage strategies according to the actual situation, with exploratory institutional bricolage more suitable for the situation where the enterprise is constrained by resources and the ability is weak, and the use-based system patchwork more suitable for the situation where the enterprise has a certain resource base and ability; (4) market response mechanism and platform governance mechanism are the two main mechanisms that trigger enterprises to choose institutional bricolage strategies. This study makes a theoretical contribution to the research on ecological participants, institutional theory and institutional bricolage, and provides a reference for SMEs to participate in industrial digital transformation to achieve corner overtaking. References | Related Articles | Metrics