Management Review

Quantitative Assessment and Optimization Paths of Data Factor Policies Based on the PMC Index Model

Zhang Xi, Shi Yanwen, Du Wanli, Sun Kexin, Wang Xuyan, Zhang Te, Pian Yutong, Wang Qiuren

2024, 36 (12): 3-14.

Abstract ( 151 )

PDF (10413KB) ( 63 )

China’s data factor market is still in its early stage of development, making scientifically-based policy formulation crucial for its stable growth. This paper employs content analysis to examine 28 national-level data factor policies as of the end of 2023 and utilizes the PMC index model for quantitative evaluation. The results indicate that 5 policies achieved a perfect level, 16 were rated excellent, and 3 were acceptable. There remains room for improvement in the diversity, comprehensiveness, balance, and sustainability of these policies. This paper proposes the following recommendations: First, to address the insufficient coverage of certain stakeholders in previous policies, a more inclusive cooperation mechanism should be established to ensure active participation from all parties in developing the data factor market. Second, to enhance the support for technological tools and service scenarios, which were rated lower in previous policies, future policies should further strengthen these areas. Third, given the high scores in risk management and lower scores in value creation, future policies should focus on improving efficiency and value creation while ensuring security and control. Fourth, to address the lower scores in long-term planning within policy timeliness, the sustainability of future policies should be enhanced.

References | Related Articles | Metrics

Data Elements Empower Enterprise Innovation: From the Perspective of Internal and External Resources

Chen Lili, Zhang Ruoqi, Rong Ke

2024, 36 (12): 15-25.

Abstract ( 236 )

PDF (10948KB) ( 145 )

Giving full play to the role of data elements to empower enterprise innovation and development is an important channel for the high-quality development of China’s economy. Based on the data of A-share listed companies from 2007 to 2022, this paper measures data elements from four dimensions, namely, data element stock, data development capability, data-driven business application, and data value realization, respectively, to explore the impact of data elements on enterprise innovation. It is found that data elements are conducive to improving corporate innovation. From the perspective of internal resources, data elements significantly reduce the level of information asymmetry, which in turn promotes enterprise innovation, and executives with information technology backgrounds are better able to utilize data elements to reduce the level of information asymmetry in enterprises, which in turn better promotes enterprise innovation. From the perspective of external resources, data elements enhance innovation by reducing the concentration of the enterprise supply chain and obtaining more diversified external resources. Further research finds that data elements are more effective in promoting innovation for firms in growth and decline periods, firms in non-polluting industries, and firms in cities with better digital economy development. The research provides evidence on how enterprises can realise independent innovation and how data elements can empower the real economy to develop at a high quality.

References | Related Articles | Metrics

Trustworthy Indicators and Measurement Methods for the Circulation and Trading of Data Elements

Liu Yezheng, Zong Lanfang, Zhou Lujuan, Pan Yue, Yuan Kun

2024, 36 (12): 26-36.

Abstract ( 97 )

PDF (10331KB) ( 39 )

The environment for the circulation and transaction of data elements is complex, involving various types of participants and numerous transaction process steps. There are numerous and diverse potential risk points, and achieving credible circulation and transaction of data elements has become an important challenge that restricts the safe and efficient circulation and transaction of data elements. To this end, based on the interview data from 11 experts in the field of data circulation and trading, as well as 119 papers from the Web of Science (WOS) core database from 2018 to 2023, this paper first identifies the key factors affecting the trustworthy circulation and trading of data elements through Latent Dirichlet Allocation (LDA) topic model. These factors include participant, data, contract, and algorithm, which are based on to construct a PDCA trustworthy framework. Then, trust theory is used to determine the evaluation indicators for trustworthy participant, trustworthy data, trustworthy contract, and trustworthy algorithm through a literature review. Subsequently, the Analytic Hierarchy Process (AHP) is used to assign weights to the evaluation indicators, calculating the weight of the evaluation index system for the trustworthy circulation and trading of data elements. Finally, the paper elaborates on the measurement of key indicators in the trustworthy indicator system. This research provides important theoretical and reference bases for characterizing and evaluating the credibility of data element circulation and trading, and for supporting the construction of a trustworthy ecological system in the data market.

References | Related Articles | Metrics

Can Data Assets Be Securitized—Discussion on Four Feasible Modes

Hu Zhengqing, Sun Zhan, Huang Qianqian, Yi Chengqi, Yu Shiyang

2024, 36 (12): 37-46,59.

Abstract ( 818 )

PDF (10683KB) ( 258 )

With the rapid development of the data element market, the commercial value of data elements is gradually being paid attention to and recognized by enterprises. As an important asset, data has become one of the key elements that cannot be ignored in the process of enterprise development. The value realization path of data elements from resource to asset and then to securitization has opened up a new financing channel for enterprises. This paper attempts to analyze the concept, feasibility and possible potential risks of data asset securitization. On the basis of innovative practical experience, four models of data asset securitization are exploratorily proposed, and the operating mechanism, main characteristics and applicable enterprises of each model are discussed in depth. Then we deeply explore the operating mechanism, main characteristics, and applicable enterprises of each model, and propose the relevant supporting policies and regulatory mechanisms that can support the high-quality development of data asset securitization in the future, in the hope of providing useful reference for the high-quality development of data asset securitization in China.

References | Related Articles | Metrics

A Preliminary Study on the Value Effect and Economic Consequence of Incorporating Data Assets into the Balance Sheet

Lyu Meng, Zhao Lifang, Zhong Yingcai

2024, 36 (12): 47-59.

Abstract ( 103 )

PDF (11009KB) ( 36 )

This paper uses the event study and case study methods to analyze the value effect and economic consequence of incorporating data assets into the balance sheet. First, this paper compares the market response to data-related companies vervus other companies around the releases of two key accounting policies related to the incorporation of data assets into the balance sheet. The findings indicate that the cumulative abnormal returns of data-related companies show a significant increase during the event window, suggesting that investors view the inclusion of data assets to the balance sheet as favorable news for these companies. Second, through simulating corporate accounting practices, the paper conducts a comparative analysis of the economic impact of data asset inclusion. It is found that companies’ liabilities, current ratios, and profit margins are all affected to a certain extent after incorporating data assets into the balance sheet. Although incorporating data assets into the balance sheet helps to enhance the market’s recognition of the value of data resources, it may also provide potential opportunities for management to manipulate financial statements. The paper concludes that accounting policies related to data assetization have taken an important step in leveraging the value of data resources, but the full realization of this value still requires the constraints of formal institutions and market intermediaries.

References | Related Articles | Metrics

Data Gatekeepers: Functional Role, System Framework and Future Prospects

Xiao Yuxian, Suo Cheng, Zhang Shaotong, Meng Qingguo

2024, 36 (12): 60-71.

Abstract ( 69 )

PDF (11593KB) ( 25 )

The issue of how to safely and efficiently circulate and trade data has attracted so much attention that data gatekeepers have become a new type of participants in data security management. The paper systematically reviews the roles and responsibilities of traditional gatekeepers, and based on the combination of data element attributes and data element governance experience, clarifies that data gatekeepers’s main responsibility is to provide gatekeeping services in the processes of data resource utilization, data productization, data circulation and transactions. A further study that draws inspiration from the microkernel construction concept in the field of computer science finds that due to the diverse functions and types of data gatekeepers, they have different service objectives. To be specific, professional gatekeeping services are provided in the core modules of the kernel to protect multi-party rights, realize large scale data development and activate data market vitality, so that higher value and return can be gained from data; common gatekeeping services are provided in the peripheral modules of the kernel to ensure the orderly flow of data, so that data lifecycle management can be strengthened. At the same time, in order to empower the microkernel’s healthy development, service delivery capabilities should be improved in such a manner as to allow full play to data gatekeepers’ working together inter-complementally. At the national level, it is advised to further promote the construction of international certification standards for data gatekeepers, develop inventory management systems, design value co-creation schemes, and implement evidence-based evaluations of gatekeeper performance.

References | Related Articles | Metrics

Scale Measurement and Empirical Study of New Infrastructure Stock

Hong Jingke, Tang Zhuo, Liu Bingsheng

2024, 36 (12): 72-83.

Abstract ( 59 )

PDF (12993KB) ( 24 )

The accelerating development of the digital economy has made new infrastructures an important tool to overcome the unevenness of regional resource endowments as well as the imbalance and inadequacy of regional development. However, an important prerequisite for exploring the socio-economic benefits of new infrastructures is to determine how to establish a framework for measuring the stock size of new infrastructures to understand the historical development patterns and spatial distribution characteristics of different types of new infrastructures. This paper combines the capital stock method and the physical quantity method to construct a theoretical framework for measuring the new infrastructure stock, and adopts the kernel density and Dagum's Gini coefficient to estimate the regional heterogeneity and unbalance of new infrastructure in China. The results show that the national capital stock of new infrastructures is in an accelerating growth stage, which sees a widening gap between eastern China and central-western China. Converged infrastructure has surpassed, in scale, information infrastructure since 2009 and become the main driving force for the vigorous development of new infrastructures. The results based on Kernel density estimation show that the spatial unbalance of new infrastructure stock has intensified, as evidenced by starker scale difference between eastern China and central China, and the intra-regional Gini coefficient in western China has risen sharply despite the rapid growth in the scale of local new infrastructures. In addition, inter-regional development gap is still the main reason for the inter-regional differences of new infrastructures in China. The theoretical framework for measuring the size of new infrastructure stock and the results of empirical analyses proposed in this study can provide a theoretical basis and data support for any potential research on the spatial and temporal analysis of new infrastructure construction.

References | Related Articles | Metrics

Research on the Fluctuation Characteristics of Carbon Futures Price Based on WTMM

Li Jingyu, Zhao Mengfan, Liu Ranran, Li Yongwu, Xie Qiwei

2024, 36 (12): 84-96.

Abstract ( 54 )

PDF (16070KB) ( 25 )

Exploring the volatility characteristics of carbon futures prices under structural breaks is of great significance for portfolio optimization and risk management. Based on the wavelet transform modulus maximum algorithm (WTMM), this paper studies the characteristics of EUA futures price fluctuation in the second and third phases of the EU ETS system, with possible structural breaks of carbon price fluctuation taken into account. Starting from the Lipschitz exponent, this paper applies the WTMM model to identify the structural breaks of the EUA price volatility and realizes the division of breakpoints into step-and impulse-type breaks. The empirical results show that there are step- and impulse-type structural breaks in the EUA volatility. Specifically, in the second and third phases, the EUA volatility has 8 and 7 step-type structural breakpoints, respectively. Financial crises, market reform, and economic situation changes are the important reasons for their occurrence, which all make the EUA futures volatility change significantly. In the third stage, the EUA volatility has one impulse-type structural break point, and policy change is an important reason for this structural break. Compared with the traditional structural break detection methods, the break detection results obtained by WTMM are more detailed and comprehensive.

References | Related Articles | Metrics

Freight Rate Co-movement and Risk Spillovers in the Dirty Tanker Shipping Market Based on Micro Shipping Routes

Meng Bin, Chen Shuiyang, Yang Mo, Chi Lingyu, Wei Bangguo

2024, 36 (12): 97-110.

Abstract ( 58 )

PDF (28986KB) ( 34 )

The tanker shipping market is a critical extension of the international oil market, with its uncertainties closely tied to the volatility of oil market prices. This study calibrates the tanker shipping market from a micro-route perspective, situating the crude oil market, tanker shipping market, and oil stock market within the same theoretical framework. Utilizing the GARCH-Copula-CoVaR model, we delineate the risk contagion pathways and underlying transmission mechanisms across these markets, unveiling the complex dependency structures and bidirectional risk spillover effects between WTI prices, oil company stock prices, and freight rates of major global tanker routes. Our findings offer insights into mitigating highly integrated market risks and provide theoretical references for understanding and halting cross-market risk diffusion. The results indicate that: (1) the upward risk spillover from WTI to routes is greater than that from routes to WTI, with longer routes experiencing higher upward risk spillover from WTI; (2) the downward risk spillover from WTI to routes is associated with ship type, with larger deadweight tonnage ships experiencing stronger spillover effects; (3) oil companies exhibit significant bidirectional risk contagion to tanker routes, with the greatest downward risk spillover to route TD6; (4) smaller deadweight tonnage corresponds to weaker downward risk spillover from oil companies to routes, with noticeable downward risk spillover from oil companies to routes TD1, TD15, and TD6 characterized by larger deadweight tonnage.

References | Related Articles | Metrics

Study on Willingness of Mortgage Prepayment

Ke Manqi, Li Xiuting, Dong Zhi, Dong Jichang

2024, 36 (12): 111-119.

Abstract ( 79 )

PDF (8406KB) ( 29 )

Residential mortgage loan is an important real estate financial product to support the housing demand of residents, and it is also a high-quality asset of commercial banks. However, borrowers’ prepayment will increase the uncertainty of commercial banks’ operation and management to a certain extent, and the difficulty of their risk management. This paper constructs an analysis model of prepayment influencing factors and individual prepayment willingness, and based on the data of 518 valid questionnaires, tests the theoretical model by use of structural equation model. The results show that among the direct effects of various factors on the willingness to prepay, capital inflow has a positive impact on the willingness to prepay, capital outflow and positive financial behavior have a negative impact on the willingness to prepay. Capital inflow, positive financial behavior, conservative cognition and preference will indirectly affect the willingness to prepay through the impact on capital outflow. Then, the corresponding management suggestions are put forward according to the research conclusions.

References | Related Articles | Metrics

Panic Pricing Effect: The Intra-Industry Externalities of Credit Events

Ouyang Yiling, Gao Haoyu, Yang Xiaoguang, Li Ni

2024, 36 (12): 120-132.

Abstract ( 62 )

PDF (9760KB) ( 13 )

In order to find out whether and how the emerging corporate bond default events affect newly issued bonds’ pricing, this paper studies the credit bonds issued from 2016 to 2020 and reaches three conclusions: (1) Default significantly increases the cost of newly issued bonds for the issuers within the same industry, and these results remain statistically significant after controlling bond and firm characteristics and a set of fixed effects, changing the event window, and implementing propensity score matching; (2) The underlying mechanism is enabled by investors’ “panic pricing effect”. Specifically, issuers who are lacking information disclosure, non-state owned, low-rated, and exposed to a poor legal environment suffer more from the externality; (3) The credit-event driven risk premium is more obvious in the samples of the same type of default bond, and the samples affected by the industry’s first default. The number of defaults is also significantly priced. From the perspective of corporate financing cost, this paper empirically contributes to understanding the intra-industry externalities of credit risk.

References | Related Articles | Metrics

Measuring the Effectiveness of Green Innovation Policy Implementation in China—A Quantitative Study Based on Policy Texts

Cheng Fei, Chen Tong, Jing Xiaodong

2024, 36 (12): 133-144.

Abstract ( 87 )

PDF (9786KB) ( 38 )

Green technology innovation is the key to achieving carbon neutrality and economic development. This paper provides a quantitative evaluation of 246 policy texts issued in China between 2006 and 2020. A bilateral stochastic frontier model is introduced to capture the impact of green innovation policy and its implementation deviation on green technology innovation. The results are as follows． The annual quantity of environmental innovation policies follows the same trend as the total effectiveness of the policies, while the average effectiveness exhibits a trend of fluctuating upward. There is significant heterogeneity in the effectiveness and sustainability of policy instruments. On average, the implementation and governance benefits of environmental policies make the green technology innovation level 16% higher than the frontier level, while the policy implementation deviation reduces the regional green technology innovation level by 8.3%. The net effect of these two opposing forces makes the actual level of green technology innovation 7.7% above the frontier level. The driving effect of green innovation policies is characterized by a “W-shaped” temporal distribution. It is very necessary to enhance the policy governance effectiveness in central China. In addition, under the influence of industrial structure and economic development, the impact of the intensity of policy implementation on the net effect shows a “U” shape. In financially medium-developed regions, local governments are more motivated to put policies into practice, thus leading to significant “ripple effect” of green innovation. This paper contributes to the dynamic assessment of the governance effects of green innovation policies and provides targeted insights for the development of high-quality of green innovation.

References | Related Articles | Metrics

Research on the Effect of Corporate Science and Technology for Social Good on Corporate Innovation Performance—From the Perspective of Shared Vision Capability and Institutional Pressure

Ruan Rongbin, Zhu Zuping, Chen Wan, Lou Xiaoting

2024, 36 (12): 145-156.

Abstract ( 108 )

PDF (11429KB) ( 61 )

Drawing on resource-based theory, social identity theory and institutional theory, this paper analyzes the mechanism of how corporate science and technology for social good influences corporate innovation performance, the mediating role of shared vision capability and the moderating role of institutional pressure. Based on the data of 441 listed companies in China from 2016 to 2021, OLS regression method is adopted for empirical testing. The results are as follows. Firstly, corporate science and technology for social good positively relates with corporate innovation performance. Secondly, shared vision capability mediates the relationship between corporate science and technology for social good and corporate innovation performance. Thirdly, coercive pressure, normative pressure and mimetic pressure play significant positive moderating roles in the relationship between corporate science and technology for social good and corporate innovation performance. Finally, the positive impact of corporate science and technology for social good on corporate innovation performance is stronger in the samples of large-scale enterprises and state-owned enterprises. In addition to promoting the extension of mature theoretical achievements such as resource-based theory, social identity theory and institutional theory to the research field of corporate science and technology for social good, and expanding the boundaries of existing theoretical applications, the results of the study also open the “black box” of the relationship between corporate science and technology for social good and corporate innovation performance, and offer empirical evidence to support it. Moreover, the study provides practical references for enterprises to participate in corporate science and technology for social good in the process of improving corporate innovation performance.

References | Related Articles | Metrics

Study on the Matching Model of Innovation Openness and Intellectual Property Protection Considering Innovation Context—A Fuzzy Set Qualitative Comparative Analysis Based on Multiple Time Periods

Meng Qingliang, Wu Xueyang, Hang Yi

2024, 36 (12): 157-170.

Abstract ( 70 )

PDF (12895KB) ( 30 )

How to balance “open” and “exclusive” in the open innovation has become a real dilemma for enterprises, and one of the potential solutions is to adopt the contingency theory to fully consider the heterogeneous innovation context in which enterprises are located. To do this, a theoretical model of the matching pattern between innovation openness and intellectual property protection considering the innovation context is constructed, and fsQCA (fuzzy set qualitative comparative analysis) is applied to 50 listed enterprises in China as a sample to empirically explore the effective matching pattern between innovation openness and intellectual property protection under different situation and their dynamic evolution paths. The results show that there are five different patterns of matching between innovation openness and intellectual property protection under the influence of heterogeneous innovation contexts, and there are some differences in the trade-offs between “open” and “exclusive” among enterprises at different stages of open innovation. The matching pattern between openness and intellectual property protection will change dynamically. This study reveals the “black box” of the matching pattern of innovation openness and intellectual property protection, dynamically analyses the performance differences of the matching mode with the development of the innovation stage under the innovation situation and its laws of evolution, and provides a new perspective for enterprises to solve the paradox of openness.

References | Related Articles | Metrics

Does Out-of-Stock Announcement Signal a Potential Price Rise? The Effect of Announced New Products out of Stock on Consumers’ Price Judgement

Liu Jianxin, Fan Xiucheng, Li Xi

2024, 36 (12): 171-182.

Abstract ( 54 )

PDF (11589KB) ( 43 )

Out-of-stock new products are often labeled as “stockout” or “soldout” in manufacturers’ announcement. Both of the labels mean that the products are not available for the time being, but they have different effects on consumer’s information processing and price judgement. However, few of the existing researches probe into this issue. Based on Information Processing Theory (IPT) and Protection Motivation Theory (PMT), this paper constructs a moderated dual-mediator model to explore whether, how and when the announcement of out-of-stock new products has an impact on consumers’ price judgement, and the findings are empirically tested using lab-experimental method and survey method. It is concluded that (1) the announcement of out-of-stock new products indeed influences consumers’ price judgement and “soldout” announcement is more likely to make consumers expect a price rise than “stockout” announcement; (2) perceived scarcity and perceived tactics jointly mediate the effect of out-of-stock announcement on consumers’ price judgement; (3) consumers’ persuasion knowledge would moderate the joint mediating effect of perceived scarcity and perceived tactics. Specifically, low persuasion knowledge is more likely to make perceived scarcity play a dominant mediating effect and high persuasion knowledge is more likely to make perceived tactics play a dominant mediating effect. The above conclusions not only extend and enrich the theories regarding out-of-stock new product, protection motivation and persuasion knowledge, but also provide an important practical guide for manufacturers to set prices, for consumers to make rational decisions and for regulators to fine-tune regulatory governance.

References | Related Articles | Metrics

Brand Crossover Alliance Legitimacy: Conceptualization, Structural Dimensions and Measurement Development

Wang Xuelian, Li Yuan, Zhang Yue, Zhang Yang, Guo Ran

2024, 36 (12): 183-196.

Abstract ( 68 )

PDF (11679KB) ( 35 )

Exploring the criteria by which consumers comprehend and embrace the “novel and diverse forms” of brand crossover alliances holds significant importance. Drawing from legitimacy theory, this study delineates the essence of brand crossover alliance legitimacy. Employing a mixed-method approach of qualitative and quantitative analyses, the study investigates the structural dimensions of brand crossover alliance legitimacy and develops a comprehensive measurement scale along with a short version. Findings indicate that brand crossover alliance legitimacy comprises four dimensions: pragmatic, moral, cognitive, and emotional legitimacy, alongside 13 sub-dimensions such as efficacy enhancement, intentional creation, advantage migration, and emotional resonance. The measurement scale incorporates 4 factors and 17 items, while the short version consists of 12 items. Analytical outcomes affirm the reliability and validity of both scales, underscoring their utility as assessment tools for brand crossover alliance legitimacy.

References | Related Articles | Metrics

The Effects of Employee Silence on Performance and Relational Behavior: A Daily Diary Research Based on Self-regulation Theory

Peng Xue, Liao Meishi, Wang Lin

2024, 36 (12): 197-208.

Abstract ( 77 )

PDF (10542KB) ( 37 )

Previous research on employee silence has primarily focused on its antecedents, giving limited attention to its consequences. This study, drawing on self-regulation theory, delves into How and When employee silence influences in-role performance, creativity, and social undermining. Through a daily diary study spanning 10 workdays with 102 employees and their supervisors, we aim to shed light on this phenomenon. Utilizing a multilevel mediated moderation model, this study finds a positive relationship between employee silence and job disengagement. Moreover, job disengagement is negatively related with in-role performance and creativity, while positively related with social undermining behaviors. Furthermore, our analysis reveals that job disengagement mediates the relationship between employee silence and its outcomes. Additionally, organizational reciprocity plays a moderating role in this process. Specifically, organizational reciprocity moderates the indirect relationship between employee silence and in-role performance, creativity, and social undermining via job disengagement. Specifically, higher levels of organizational reciprocity weaken the indirect effects of employee silence on these outcomes through job disengagement. In conclusion, this study offers a fresh theoretical perspective on the consequences of employee silence, and provides managerial insights for mitigating its negative impacts.

References | Related Articles | Metrics

Enterprise-Union Coupling Relationship and Organizational Health: A Study from the Attention-based View

Hu Enhua, Zha Xuanqi, Shan Hongmei, Han Mingyan

2024, 36 (12): 209-221.

Abstract ( 76 )

PDF (11531KB) ( 30 )

Organizational health is an important guarantee for an enterprise to keep its foundation in the long run. However, most enterprises pay too much attention to economic goals and efficiency in the process of development, without regard to the sustainable growth and balanced development of the organization, which leads to the frequent occurrence of unhealthy “symptoms” of the organization. As the status and influence of Chinese unions continue to rise, the establishment of enterprises-union coupling relationship will help enterprises break through their cognitive limitations and effectively observe, explain and allocate organizational attention, thus maintaining growth vitality and adapting to environmental changes. However, the existing theoretical clues about the impact of enterprise-union coupling relationship on organizational health are not consistent, and it is urgent to further explore how different enterprise-union coupling relationship (EUCR) affects organizational health differently.Based on the attention-based view, this paper explores the differential effects of Borderline-, Auxiliary-, Rectification-, and Symbiosis-EUCR on organizational health. A two-time point questionnaire survey is conducted to collect 609 enterprise/union managers’ data. K-means method is used for cluster analysis and relevant hypotheses are tested. The results show that: (1) Characterized by “loose coupling”, Borderline-EUCR has a negative effect on organizational health. (2) Characterized by “production coalition”, Auxiliary-EUCR has an inverted U-shaped first-positive-then-negative effect on organizational health. (3) Characterized by “competition and balance”, Rectification-EUCR has a U-shaped first-negative-then-positive effect on organizational health. (4) Characterized by “value co-creation” and “benefit sharing”, Symbiosis-EUCR has a positive effect on organizational health. Compared with other models, the Symbiosis-EUCR is more effective in improving organizational health in the context of Chinese organizations.The results reveal the mode characteristics of the Borderline-, Auxiliary-, Rectification- and Symbiosis- EUCR and its differential impact on organizational health, which not only provide a new theoretical perspective for the research on the antecedents of organizational health, but also enrich the research on the impact of the EUCR in China. In the practice of organizational management, enterprise and union need to choose appropriate evolution strategies to promote the transition from Borderline-, Auxiliary-, Rectification- EUCR to Symbiosis- EUCR, which is more conducive to the realization of comprehensive, coordinated and sustainable organizational health.

References | Related Articles | Metrics

Employee Green Behavior in Organizational Management: Literature Review and Prospects

Zhang Shujie, Wang Xingyuan, Tang Guiyao

2024, 36 (12): 222-234.

Abstract ( 103 )

PDF (11579KB) ( 43 )

With the increasing concern of the international community on environmental issue, much attention has been paid to the study of how individuals contribute to environmental sustainability in organizational settings. The concept of employee green behavior arose and has become an important research topic in the field of organization management. In recent years, the research in the field of employee green behavior has developed rapidly. However, there is still a lack of consistent understanding on the conception, classification, theory and measurement of employee green behavior, and the research focus is relatively scattered. Therefore, it is necessary to build an integrated research framework to analyze and sort out the existing researches. In view of this, this paper first defines the concept and connotation of employee green behavior; Second, the theoretical basis of employee green behavior is analyzed from five perspectives: norm, motivation, exchange, attitude, and emotion. Then the measuring methods of employee green behavior are sorted out. Finally, based on the multi-level perspective, a research framework is constructed that integrates the antecedents, mediator, moderator, and outcomes of employee green behavior. Several research directions are proposed.

References | Related Articles | Metrics

Random Inspection of Audit Firms and Dissent from Minority Shareholders: Evidence from Auditor Proposals

Chen Yunsen, Lu Chen, Yu Yao

2024, 36 (12): 235-248.

Abstract ( 84 )

PDF (10901KB) ( 41 )

Encouraging the active exercise of rights by minority shareholders is a significant part of “people-oriented” regulatory approach. This paper utilizes manually collected data on the random inspection of audit firms and voting data from minority shareholders on the reappointment of auditors to explore whether the China Securities Regulatory Commission’s random inspection of audit firms can motivate minority shareholders to participate in auditor-related proposals. Empirical results reveal that random inspection of accounting firms significantly increases the rate of dissent among minority shareholders of regulated audit firm clients towards the reappointment of auditors, particularly in situations characterized by poor auditor reputation, low audit quality, and weak external supervision. Mechanism tests show that by drawing the attention of both the market and minority shareholders, and keeping minority shareholders in the loop, random inspection of audit firms makes minority shareholders willing to express their dissent from audit proposals. Further analyses indicate that random inspection of audit firms enhances the likelihood of regulated clients changing auditors and the rate of minority shareholders’ dissent from annual report proposals. Moreover, it exhibits spillover effects across both audit offices and within the industry. The conclusions of this paper provide a new theoretical perspective and empirical evidence on how random inspection of audit firms affects minority shareholders’ intention to vote against audit proposals, and also offer potential approaches for regulatory authorities to guide minority shareholders towards active participation.

References | Related Articles | Metrics

The Impact of Digital Transformation on Enterprise Financial Performance: The Mediating and Moderating Roles of Dynamic Capabilities

Wang Kaiyang, Sun Zhuo, Chen Pengcheng

2024, 36 (12): 249-262.

Abstract ( 118 )

PDF (11466KB) ( 41 )

In the context of the digital economy, enterprises seek to enhance their financial performance through digital transformation. By constructing a financing-production decision-making model under the condition of random fluctuations in business results, this paper reveals the internal mechanism by which digital transformation affects financial performance through dynamic capabilities, and points out the moderating and mediating roles of financial flexibility, as a specific dimension of dynamic capabilities, in the process of performance improvement. Based on the A-share panel data from 2007 to 2020, this paper tests the theoretical model, and the empirical study finds that: first, digital transformation can improve the adaptability of enterprises to market environment fluctuations, and thus can significantly improve the financial performance of enterprises; second, financial flexibility plays both mediating and moderating roles in the above process, and enterprises with financial flexibility can better improve their financial performance by implementing digital transformation. This paper helps to enrich the theory about the role of digitalization in enterprise management and provides relevant enlightenment for better exerting the role of enterprise digital transformation.

References | Related Articles | Metrics

Exploring the Process, Characteristics and Key Difficulties of Academic Entrepreneurship from the Perspective of Path Evolution—Taking the Quantum Team of USTC as an Example

Liu Zhiying, Zhang Xiaofeng, Shao Yunfei

2024, 36 (12): 263-274.

Abstract ( 81 )

PDF (10263KB) ( 34 )

The transformation of scientific research achievements has long been a challenge for governments, research institutions, and universities, with academic entrepreneurship serving as a critical pathway. In China, the success rate of academic entrepreneurship has consistently remained low, and its evolutionary path and key challenges are not well understood theoretically, while in practice, many enterprises are still struggling in their explorations. Thus, from a path evolution perspective, this research employs an embedded longitudinal single-case study to conduct exploratory research on the quantum team at the University of Science and Technology of China. The results indicate that: (1) The academic entrepreneurship process based on basic scientific research can be divided into five stages: basic science research, applied basic research, applied technology development, intermediate experimentation, and commercialization. These stages exhibit a stepwise progression and interaction, with each stage corresponding to distinct core characteristics; (2) The five stages of the academic entrepreneurship process correspond to five key challenges: insufficient research funding, shortage of R&D equipment, difficulty in securing international technology standards, inadequate exploration of application scenarios, and low knowledge heterogeneity within the executive team. This study enhances the theoretical understanding of academic entrepreneurship and offers insights for stakeholders, including universities, academic entrepreneurs, academic spin-offs, and governments.

References | Related Articles | Metrics

Paths of Consumer Goods Enterprises’ Premiumization in Chinese Context

Hai Miao, Lin Haifen, Zuo Xiaobin, Li Li

2024, 36 (12): 275-288.

Abstract ( 95 )

PDF (13630KB) ( 66 )

The launch of economic high-quality development strategy and the increasing trend of consumption upgrading are driving Chinese consumer goods enterprises to seek further growth through premiumization. To explore how these enterprises should make a strategic change toward premiumization, this paper uses the grounded theory to qualitatively analyze the practice of industry leaders, such as Yadi, Bosideng, Feihe, Zhuyeqing and Fangtai, which have successfully achieved premiumization through different ways. In this paper, firstly, we extract 11 main categories related to the composition and formation of premiumization path: premiumization target, contracting business scope, expanding business scope, lack of resources, rich resource reserves, designing a subversive concept, reconfiguring and upgrading quality module, reconfiguring and upgrading marketing module, reconfiguring and upgrading channel module, organization structure restructuring, and digital reform; secondly, we identify and explore the fundamental reasons why different consumer goods enterprises follow different premiumization paths, that is, the differentiated resource reserve state; thirdly, we identify the common and different parts of each path, and explore its unique function in the change; and fourthly, we combine the common and different parts together to form a contracting premiumization path suitable for consumer goods enterprises with scarce resource reserve and low-end resource reserve, and a expanding premiumization path applicable to consumer goods enterprises with rich high-quality resource reserve. The conclusions of this paper can supplement and enrich the theoretical system of premiumization, and provide guidance for the premiumization practice of consumer goods enterprises.

References | Related Articles | Metrics

Table of Content