Chinese Journal of Management

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管理学报

　 May. 19, 2025

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Chinese Journal of Management

	2025 Vol.22 Issue.4 Published 2025-04-01

	595	Government and Market Driven Digital Marketing Flywheel of State-Owned Enterprises: A Case Study of Zhejiang China Tobacco Industry Company
		Zhejiang China Tobacco Industry Company
		Taking Zhejiang China Tobacco Industry Company as an example, this study conducts vertical single-case research to explore the processes and mechanisms of the digital transformation of marketing in state-owned enterprises. The study finds that: The digital transformation of marketing in state-owned enterprises is initiated with the channel management digitalization. It then sequentially promotes the digitalization of merchant management, customer relationship management and product innovation, forming a digital marketing flywheel with positive feedback, and improves the overall level of digital marketing and the brand influence; State-owned enterprises continuously promote the digital transformation of marketing by adjusting market orientation to meet the needs of high-quality development and the changes in the market policy environment; The market orientation of state-owned enterprises evolves along the path of “plan-driven—market-driven—emphasizing on both market-driven and market-driving”, reflecting the transition of state-owned enterprises from passively responding to the market to actively leading the market, demonstrating their mission and responsibility in the new era.
		2025 Vol. 22 (4): 595- [Abstract] ( 33 ) [HTML 1KB] [ PDF 2372KB] ( 131 )

	607	Research on the Dynamic and Diversified Talent Cultivation Mode of the Joint Fund for Corporate Innovation and Development
		SHEN Tongyuan, LIU Yun, LIU Jia
		This study examines the Joint Fund for Corporate Innovation and Development of the National Natural Science Foundation of China (NSFC), focusing on its dual emphasis on basic research and application transformation and deep university-enterprise collaboration. It identifies the “full-chain empowerment-dual-subject collaboration” talent cultivation mode, providing key insights for interdisciplinary talent cultivation and the multi-source investment mechanism design for basic research. Through a phased implementation process of project initiation-research and development breakthroughs-validation and transformation, the fund fully leverages the frontier exploration advantage of universities and the industrial practice advantage of enterprises. The fund not only enhances the explicit abilities of both university and enterprise researchers, such as basic research capabilities on scientific frontiers and application development capabilities for practical needs, but also cultivates their implicit abilities, including cross-disciplinary communication skills, organizational management capabilities in cross-field collaboration and motivational drive across research phases. Additionally, the fund supports the publication of high-level research paper, the applications for scientific awards and the achievement of academic titles.
		2025 Vol. 22 (4): 607- [Abstract] ( 16 ) [HTML 1KB] [ PDF 1886KB] ( 86 )

	618	Research on the Construction and Evolution Rule of Overseas Business Ecosystem in Fragile Institutional Environments—Based on the Case Analysis of CCECC
		FENG Yongchun, GONG Yuechen, WANG Ling, WANG Mengyao
		This study selects China Civil Engineering Group Construction Corporation as the case study, and reveals the construction mechanism and evolution rule of overseas business ecosystem of the fragile institutional environments. The findings are as follows:①In the fragile institutional environments, Chinese infrastructure enterprises can gradually build overseas business ecosystems according to the construction mechanism of ‘decision-making basis-dominant logic—construction behavior—construction results’;②The construction of overseas business ecosystem by Chinese infrastructure enterprises has experienced the evolution of “project operation stage→industrialization construction stage→diversified expansion stage”, which dominant logic shows the evolution rule of “government-led logic→mixed logic with government-dominated, business-assisted→mixed logic of commercial dominated, government-assisted”.
		2025 Vol. 22 (4): 618- [Abstract] ( 11 ) [HTML 1KB] [ PDF 5748KB] ( 69 )

	629	A Simulation Study on Mitigating the Post-Acquisition Tension of Integration-Autonomy Through a Temporal Perspective
		JIANG Shisong，CHENG Maosen，HU Yan，ZHANG Shou
		This study, using a simulation approach based on NK model, tries to resolve the integration-autonomy dilemma from a temporal perspective. Specifically, this study shows that the autonomy-and-reintegration strategy based on the temporal perspective, outperforms integration strategy and autonomy strategy, suggesting that autonomy-and-reintegration strategy can resolve the integration-autonomy dilemma to a certain degree. In addition, this performance advantage is mostly pronounced when there is a higher degree of interdependence between the acquiring firm and the target firm and when the integration timing is neither in early nor in later stages. Further, the coordination and exploration mechanism behind the performance outcome are discussed.
		2025 Vol. 22 (4): 629- [Abstract] ( 20 ) [HTML 1KB] [ PDF 2497KB] ( 60 )

	638	A Study on the Impact of the Manager’s Temporal Focus on the International Expansion of the Enterprise
		WANG Jie，ZHANG Xiao
		Based on upper echelons theory and subjective time perspective, this study takes Chinese A-share listed companies in manufacturing industry from 2006 to 2021 as research samples to explore the impact mechanism of different dimensions of the manager’s temporal focus on the international expansion of the enterprise and analyze the moderating effect of customer concentration and firm age on the above relationship. We find that：The present focus of the manager negatively affects the international expansion of the enterprise, whereas the future focus of the manager positively affects the international expansion of the enterprise; The customer concentration strengthens the relationship of the present focus and the international expansion, and weakens the relationship of the future focus and the international expansion; The firm age weakens the relationship of the present focus and the international expansion, and strengthens the relationship of the future focus and the international expansion.
		2025 Vol. 22 (4): 638- [Abstract] ( 36 ) [HTML 1KB] [ PDF 1300KB] ( 97 )

	646	Research on the Influence Mechanism of Vertical and Horizontal Leadership Distribution on Team Knowledge Transfer Efficiency
		FENG Yan，LYU Hongjiang
		Based on hierarchical functional theory, this study examines survey data from 169 managers and 555 employees across 101 teams and employs polynomial regression and response surface analysis to explore how vertical and horizontal leadership distribution influence team knowledge transfer efficiency through knowledge conflict, as well as the moderating effect of environmental complexity in this process. The results indicate that the greater imbalance in the vertical and horizontal leadership intensity, the lower the level of team knowledge conflict. Compared to the horizontal-dominant leadership, the vertical-dominant leadership leads to a lower level of team knowledge conflict. Knowledge conflict mediates the effect of vertical and horizontal leadership on team knowledge transfer efficiency. Environment complexity enhances the impact of vertical and horizontal leadership on knowledge conflicts, and strengthens the mediating effect of team knowledge conflict on the relationship between vertical and horizontal leadership and knowledge transfer efficiency.
		2025 Vol. 22 (4): 646- [Abstract] ( 20 ) [HTML 1KB] [ PDF 2233KB] ( 116 )

	659	The Influence Mechanism of Team Member Boundary-Spanning Differentiation on Team Innovation
		CHEN Chao，ZHANG Shuman
		Drawing upon categorization-elaboration model (CEM), this study explored how and when team member boundary-spanning differentiation influences team innovation by developing a mediated moderation model. Specifically, the moderating role of team prosocial motivation and the mediating effect of team reflexivity were examined. By employing statistical analysis method (i.e. SPSS) and analyzing the data from 69 groups including 383 members with a multiple-source and time-lagged research design, the present study got the following results. First, team prosocial motivation positively moderates the relationship between team member boundary-spanning differentiation and team reflexivity. Second, team reflexivity affects team innovation positively. Third, team reflexivity mediates the influence of the interaction of team member boundary-spanning differentiation and team prosocial motivation on team innovation.
		2025 Vol. 22 (4): 659- [Abstract] ( 23 ) [HTML 1KB] [ PDF 1359KB] ( 85 )

	669	The Impact of Multi-Field Embeddedness and Its Congruence on Employee Performance
		CHEN Aobo，YANG Chunjiang，CHEN Yashuo
		Based on social network theory, work adjustment theory, and the investment model, the study conducted regression testing and response surface analysis on paired data of leader-subordinate from multi-source and multi-time to explore the effects of organizational embeddedness, occupational embeddedness, and their congruence on task performance. The findings reveal that: both organizational embeddedness and occupational embeddedness exhibit an inverted U-shaped curve relationship with task performance; when there is congruence between organizational and occupational embeddedness, employees demonstrate higher performance in the “high-high” condition compared to the “low-low” condition; in the case of incongruence, the “high-low” combination of occupational and organizational embeddedness leads to better performance than the “low-high” combination.
		2025 Vol. 22 (4): 669- [Abstract] ( 16 ) [HTML 1KB] [ PDF 1827KB] ( 60 )

	681	Research on the Influence of Enterprise Digitalization Level on Speed of Integration into Global Innovation Network
		GAO Rui，DU Xiaojun，QI Qiao
		Based on the time perspective, combined with the international ambidextrous learning theory, this study uses the overseas direct investment data of China’s A-share listed companies from 2009 to 2021, and adopts the Cox proportional hazards model to empirically test the influence and mechanism of enterprise digitalization on the speed of integrating into the global innovation network. Based on the strategic tripod, this study discusses the moderating effect of host country’s intellectual property protection, industry openness and dynamic capability on the relationship between the two. The results show that enterprise digitalization significantly improves the speed of integration into the global innovation network, and intellectual property protection, industry openness and dynamic capability play a positive moderating role between digitalization and the speed of integration into the global innovation network. Mechanism analysis shows that enterprise digitalization promotes the speed of integration into the global innovation network by improving knowledge acquisition and knowledge integration effect. Heterogeneity analysis shows that the acceleration effect of digitalization is more significant for enterprises entering countries not along the Belt and Road, those in strategic emerging industries, and specialized and new enterprises.
		2025 Vol. 22 (4): 681- [Abstract] ( 14 ) [HTML 1KB] [ PDF 1241KB] ( 76 )

	690	Research on the Impact of Key Core Technology Innovation Enabled by Digital Technology in Chinese High-Tech Manufacturing Enterprises
		FENG Qiliang，AN Qi，FANG Wei
		Based on the theory of resource orchestration, this study empirically examines the impact of digital technology-enabled enterprises’key core technology innovation by taking China’s high-tech manufacturing industry from 2011 to 2020 as the research object. It is found that digital technology has a significant positive impact on enterprise’s key core technology innovation, and this conclusion holds after considering endogeneity problems and various robustness tests. The mechanism test shows that in the resource structuring stage, digital technology endows enterprises with network resource effect, which helps them to move closer to the center of innovation network to promote the innovation of key core technologies. At the stage of resource capability and resource leverage, digital technology gives enterprises the incentive effect of R&D, and promotes the innovation of key core technologies by stimulating the improvement of enterprise capabilities. Heterogeneity analysis found that the digital technology of state-owned enterprises and large-scale enterprises has a greater impact on key core technology innovation, and the digital technology of enterprises located in cities with low-innovation resource cities has a more obvious impact on key core technology innovation.
		2025 Vol. 22 (4): 690- [Abstract] ( 21 ) [HTML 1KB] [ PDF 1329KB] ( 117 )

	700	Research on the Impact of Executive Team Heterogeneity on Corporate ESG Performance
		WEN Hao，HUANG Jixin
		Based on the Upper Echelons Theory and the Emergence Theory ,this study analyzes the impact of executive team heterogeneity on corporate ESG performance, and uses data from China’s A-share listed companies from 2018 to 2022 for empirical testing. The results show: the heterogeneity of the executive team’s professional background and overseas experience will generate an emergence effect positively affecting corporate ESG performance. The test of the regulatory mechanism indicates that the external driving force of the “supervision effect” of major shareholders and the internal pulling force of the “incentive effect” of executives’ stock ownership promotes the influence of executive team heterogeneity on corporate ESG performance. Further analysis finds that executive team heterogeneity can reduce the probability of enterprises facing short-term ESG risk events and significantly alleviate the “partiality” phenomenon in ESG performance.
		2025 Vol. 22 (4): 700- [Abstract] ( 24 ) [HTML 1KB] [ PDF 1335KB] ( 97 )

	709	Research on the Impact of Corporate ESG Performance on Leverage Manipulation
		ZHANG Xiaoyu，XIN Chunhua，WANG Xinyi
		Taking the non-financial listed companies in China’s A-share market from 2009 to 2022 as the research sample, this study empirically examines the impact of corporate ESG performance on leverage manipulation and explores the moderating role of abnormal managerial tone. The research finds that corporate ESG performance can reduce leverage manipulation, while environmental and governance aspects have a significant impact on reducing leverage manipulation, while the impact of social performance is relatively weak. Abnormal managerial tone hinders the governance effect of corporate ESG performance on leverage manipulation. Further research reveals that corporate ESG performance mainly reduces the benefits of leverage manipulation through financing channels and increases the costs of leverage manipulation by attracting external supervision, thereby ultimately suppressing the motivation for leverage manipulation. Economic consequence studies also find that corporate ESG performance reduces the bankruptcy risk arising from leverage manipulation.
		2025 Vol. 22 (4): 709- [Abstract] ( 14 ) [HTML 1KB] [ PDF 1323KB] ( 74 )

	719	E-Commerce Transformation of a Third-Party Cashback Website and Responses of an E-Commerce Platform
		HUANG Junwei，MEI Shue，ZHONG Weijun
		This study constructs a game-theoretic model involving of a merchant, an e-commerce platform, and a third-party cashback website, and explores the e-commerce transformation strategies of the cashback website and the corresponding response strategies of the platform. The research reveals: For the cashback website, when both the commission rate and the utility discount factor of its e-commerce channel are high, while both the cashback amount provided by the merchant to the cashback website and the cashback amount provided by the cashback website to consumers are relatively low, the cashback website should introduce the e-commerce channel; then, the platform will permit it to continue participating in the cashback promotion. When both the commission rate and the utility discount factor of the cashback website’s e-commerce channel are high and the cashback provided by the merchant is relatively moderate, the cashback website should still introduce the e-commerce channel even if the platform prohibits its continued participation in the cashback promotion after the introduction. Regarding the platform, it will suffer losses when the cashback website introduces the e-commerce channel. However, if the cashback amount provided by the merchant is relatively moderate and the cashback amount provided by the cashback website is relatively high, or if the cashback amount provided by the merchant is relatively low, the platform should allow the cashback website to continue participating in the cashback promotion.
		2025 Vol. 22 (4): 719- [Abstract] ( 13 ) [HTML 1KB] [ PDF 2001KB] ( 100 )

	729	Research on Consumers’ Purchase Motivation of New Product from an Impression Management Perspective
		ZENG Fue，ZENG Yixuan，WANG Xueying，JIN Qiran
		Based on Impression Management Theory, three experimental studies were conducted to explore the impact of different types of new products on consumers’ purchase intentions. The findings indicate that driven by self-enhancement motivation, new products with technological innovation significantly enhance consumers’ purchase intentions; driven by self-expression motivation, new products with design innovation have a positive effect on consumers’ purchase intentions. In addition, the need for change positively moderates the effect of new products with technological innovation on self-enhancement, while need for cognition negatively moderates the impact of new products with design innovation on self-expression.
		2025 Vol. 22 (4): 729- [Abstract] ( 18 ) [HTML 1KB] [ PDF 1555KB] ( 95 )

	741	The Influence of Negative E-WOM Dispersion on Brand Equity After Agri-Brand Crisis
		BAI Zhonghu，SHI Zhenzhen，QING Ping
		Based on attribution theory, three experiments were conducted to explore the impact of negative electronic word-of-mouth (E-WOM) dispersion on consumer-based brand equity after the Agri-brand crisis. The findings indicate that: ①Compared with the case where the dispersion of negative E-WOM is low, when the dispersion of negative E-WOM is high, consumers attribute less responsibility to the brand in crisis and the brand’s equity is higher. ②When the dispersion of negative E-WOM is high, providing this information to consumers can significantly reduce their responsibility attribution to the crisis and enhance brand equity compared with not providing this information to consumers. ③When there is clear crisis responsibility attribution information, the impact of negative E-WOM dispersion on brand equity will disappear. ④When the dispersion of negative E-WOM is high, using a justification strategy can significantly improve brand equity more than a remediation strategy; when the dispersion of negative E-WOM is low, using a remediation strategy can significantly improve brand equity more than a justification strategy.
		2025 Vol. 22 (4): 741- [Abstract] ( 10 ) [HTML 1KB] [ PDF 1232KB] ( 66 )

	750	Research on Multi-Stage Online Public Opinion-Driven Group Consensus Decision-Making Method Based on Large Language Model
		LIU Min，ZHANG Luxiang，PING Weiying，HUANG Fei
		Based on the BERT model to analyze online public opinion on social media, the public opinion information is transformed into an intuitionistic fuzzy evaluation matrix, and the temporal change of public opinion is analyzed to calculate each temporal weight, and using the generative large language model to simulate the decision makers’ behaviors, and the news text and online public opinion are provided to the large language model to simulate the opinions of decision makers with different risk preferences, so that we can propose a multi-stage public opinion-driven group consensus decision-making method. By combining the degree of hesitation and the degree of trust, we calculate the maximization adjustment degree of decision makers, and considering the individual differences of decision makers, give the calculation methods of attribute weights and consensus thresholds, and construct a dual-path feedback model to address conflicts among decision makers. The feasibility and effectiveness of the method in group decision-making are verified through a case study involving investment selection of new energy automobile enterprises.
		2025 Vol. 22 (4): 750- [Abstract] ( 22 ) [HTML 1KB] [ PDF 1294KB] ( 97 )

	760	Research on the Effect of Government Response on Government Trust in Conventional Governance Contexts
		LI Yan，LI Qi，MA Liang
		Based on the context of government hotline responses, employing the method of conjoint experiment to collect experimental data from 976 participants nationwide, this study analyzes the micro-level impact mechanism of the constituent elements of government responses on government trust and explores the heterogeneous preferences of different citizen groups for government trust. The results indicate that response attitude, response quality, follow-up agent, reply speed, response language, response discourse, and answer speed all have a significant impact on government trust, with effects decreasing in the order listed. There is an interaction between the gender of the telephone operator and response discourse, and the consistency of discourse features and gender role stereotypes is more conducive to enhancing government trust. Individual characteristics such as gender, age, and income shape citizens’ heterogeneous preferences for government responses. Adopting differentiated response methods for different demographic characteristics can maximize citizens’ trust in the government.
		2025 Vol. 22 (4): 760- [Abstract] ( 11 ) [HTML 1KB] [ PDF 2267KB] ( 56 )

	771	Cross-Organizational Contract Governance: A Literature Review, Integrated Research Framework, and Future Prospects Based on Process Perspective
		HE Yong，FENG Chao，ZHUANG Guijun，CHEN Hui
		From the dynamic process perspective of inter-organizational contract governance, this study attempts to systematically review, sort out, and analyze 300 cross-organizational contract governance literatures published in top journals at home and abroad from 1967 to 2023. Based on the previous research，using the stages of contract governance as a classification，the contract governance is divided into four stages：contract design, contract enforcement，contract adjustment，and contract assessment. Then the concepts，dimensions, and measurement tools of each stage are sorted out. The theoretical framework of each stage is also constructed respectively according to the logical relationship of antecedents，outcomes, and moderations. Finally, some important research prospects are identified，thus laying a foundation for future research.
		2025 Vol. 22 (4): 771- [Abstract] ( 14 ) [HTML 1KB] [ PDF 1272KB] ( 85 )

	782	The Thematic Framework, Emerging Trends, and Expansion Directions in Research on Digital Transformation
		ZONG Mengting，ZHU Di，CHEN Xi
		By integrating quantitative bibliometrics with qualitative theoretical analysis, this study systematically deconstructs the knowledge map and evolutionary logic in the field of enterprise digital transformation. A literature analysis based on the core database of Web of Science database reveals that the thematic structure of digital transformation research comprises four theoretical pillars: the mechanism of digital transformation from strategic and cognitive perspectives, digital innovation, digital capability construction, and institutional-ecological synergy. The evolution of hotspots highlights data-driven intelligent operations, the intelligent upgrading of lean production, business model reconstruction, and dynamic capability iteration. Future research should transcend the traditional technology-tool perspective, focusing instead on the strategic decision-making reconstruction of executives, organizational structures and process reforms, ecological value co-creation, and the unique context of digital transformation in China. Furthermore, it is necessary to explore and deepen critical theoretical propositions such as the generation mechanism of digital technology capabilities and value creation pathways.
		2025 Vol. 22 (4): 782- [Abstract] ( 19 ) [HTML 1KB] [ PDF 2578KB] ( 92 )

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