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Chinese Journal of Management
2024 Vol.21 Issue.11
Published 2024-11-01
1581
Professionalism Methodology for Managing Cross-Industry Management Challenges： A Case Study of CHU Shijian’s Management Practice
DENG Weisheng
This study employs a single-case study approach to explore and analyze CHU Shijian’s 50-year management practice. It is found that professionalism constitutes the core logic of CHU Shijian’s ability to “excel in whatever field he engages in”. The research outcomes reveal that CHU Shijian’s professionalism methodology takes self-improvement as its starting point and the balanced symbiosis of stakeholders as the guarantee mechanism. It encompasses two connotations: “professional in handling affairs” and “professional in personnel management”. The “professional in handling affairs” category features the craftsman-oriented, scientific-oriented, and tenacious-oriented as core driving factors, while the “professional in personnel management” category has the dialectical principle, contract principle, and symbiotic principle as core driving factors.The connotation of “professional in handling affairs” with the core driving factors of the craftsman-oriented, scientific-oriented, and tenacious-oriented is manifested in three characteristics: focus, simplicity, and practicality, corresponding to the three logics of “doing the right things”, “doing things right”, and “being down-to-earth in handling affairs”. The connotation of “professional in personnel management” with the core driving factors of the dialectical principle, contract principle, and symbiotic principle is reflected in three characteristics: systematicness, tolerance, and win-win, corresponding to the three logics of “standardized operation” “fault-tolerant management”, and “systematic integration”.
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1593
The Impact of Spokesperson Geo-Relationship on the Effectiveness of Place Brand Cause-Related Endorsement Based on Confucianism’s Ethics for the Ordinary People
LI Jianxin，LI Chen，HE Hao，LIU Hongshen
Based on the Confucian ethics of “benevolence (Ren)”, “righteousness (Yi)”, and “propriety (Li)”, this study investigates the influence of endorser geo-relationship between spokesperson and regional brands on the effectiveness of celebrity public welfare endorsements through three situational experiments. The results show that the interactive dimension of endorser geo-relationship is the primary determinant of behavioral intention, while the ascribed dimension only plays a role when the interactive dimension is weak. And in the influence of endorser geo-relationship on behavioral intention, the perception of “Qingyi” (affection and righteousness) plays a mediating role. Moreover, high interactivity of the endorser geo-relationship helps to enhance the endorsement effectiveness when the information focus is the celebrity.
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1603
Research on the Impact of Capital Structure Adjustment on Enterprise M&As
WANG Jinren，CHEN Yizhi，PAN Min
Using M&As data of Chinese A-share listed companies from 2010 to 2020, this study theoretically and empirically examines the impact and economic consequence of capital structure adjustment on enterprise M&As. The results show that capital structure adjustment inhibits enterprise M&As and this inhibitory effect is mainly reflected in over indebted enterprises. The mechanism tests show that intensified financing constraints and reduced agency costs are potential pathways for capital structure adjustment to inhibit M&As of over indebted enterprises. The heterogeneity tests show that the above inhibitory effects are concentrated in the regions with higher levels of financial development, and in the enterprises with poor internal control quality or those are non-state-owned. The economic consequence test confirms that capital structure adjustment can enhance the M&As performance of over indebted enterprises.
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1612
Research on the Impact of Financialization on Enterprises’ Green Transformation Intentions
SUN Rufeng，LI Nanbo
Taking China’s Shanghai and Shenzhen A-share listed manufacturing enterprises from 2011 to 2021 as a sample, this study reveals the impact of corporate financialization on green transformation intentions, and discusses the moderating effect of heterogeneous financialization behavior motivation and the enabling effect of different green financial instruments. The results show that: ①the deepening of financialization will significantly inhibit the green transformation intention of enterprises, and play a greater role in non-state-owned enterprises, heavy polluting enterprises, defensive strategic enterprises and enterprises with high equity concentration. ②As internal subjective behavior motivation and external behavior motivation, the increase of profitability optimism and industry competition can alleviate the inhibition effect of financialization on green transformation intention, while the increase of financing constraint intensity of internal objective behavior motivation will aggravate the inhibition effect of financialization on green transformation. ③Enterprises that have obtained special green finance policies and government subsidy policies are more likely to alleviate the inhibiting effect of financialization on enterprises’ green transformation intentions.
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1621
The Influence Mechanism of the Legitimacy of Workplace Vigilante Punishment on Bystander Organizational Citizenship Behavior
ZHANG Ruoyong，WANG Yilin，HUANG Chisen
Based on the fair heuristic theory, this paper aims to explore the relationship between the legitimacy of workplace vigilante’s punishment and the organizational citizenship behavior of bystanders, and examine the mediating role of justice perception and the moderating role of social consensus. Through three experiments, it is found that: legitimacy of punishment positively affects bystander justice perception; justice perception plays a mediating role between legitimacy of punishment and bystander organizational citizenship behavior; social consensus not only moderates the relationship between legitimacy of punishment and bystander justice perception, but also moderats the mediating effect of legitimacy of punishment on bystander organizational citizenship behavior through bystander justice perception.
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1632
The Double-Edged Sword Effect of Electronic Performance Monitoring on Employees’ Responsible Innovation Behavior
CAO Yuankun，LUO Yuanda
Based on the cognitive appraisal theory of stress, through the analysis of 346 paired questionnaires in two stages, this study examines the mechanisms and boundary conditions of the impact of electronic performance monitoring on employees’ responsible innovation behavior. The results show that: ①Challenge stress plays a positive mediating role between electronic performance monitoring and responsible innovation behavior, while hindrance stress plays a negative mediating role between electronic performance monitoring and responsible innovation behavior. ②A perceived organizational inclusive atmosphere positively moderates the relationship between electronic performance monitoring and challenge stress, while negatively moderates the relationship between electronic performance monitoring and hindrance stress. ③ A perceived organizational inclusive atmosphere positively moderates the intermediary role of challenge stress between electronic performance monitoring and responsible innovation behavior, and negatively moderates the intermediary role of hindrance stress between electronic performance monitoring and responsible innovation behavior.
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1642
The Impact of Data Factor on Innovation in Manufacturing Firms
MA Cheng，REN Shuming，RAN Chenyang
Based on data valuation theory, this study takes Chinese A-share listed manufacturing firms from 2011 to 2021 as samples to examine the impact of data factor on firm innovation in terms of both direct and combined effects. The results show that data factor drives firm innovation. The mechanism analysis shows that data can enter firms as an independent production factor to reduce technological uncertainty and market uncertainty and thus drive firm innovation. The combination of data factor and traditional production factors can reinforce the reduction effect of innovation uncertainty, which in turn drives firms to innovate.
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1651
Research on Generational Involvement and Strategic Entrepreneurial Behavior of Family Firms
PENG Huatao，HU Liang，PAN Yueyi
This paper selects listed family firms panel data in China from 2011 to 2022 as the research object, aiming to explore the influence mechanism of generational involvement on strategic entrepreneurial behavior and the moderating effect of second-generation related factors. The results found that: ①generational involvement promotes the intensity of strategic entrepreneurial behavior through the fault zone of executive competency. ②The succession mode of the second generation has a negative moderating effect. The gradual succession mode weakens the promoting effect of the executive fault zone caused by generational involvement and ability attributes on the intensity of strategic entrepreneurial behavior while the radical succession enhances the promoting effect. ③The kinship of the second generation has a negative derating effect. The second-generation of immediate family members weakens the promoting effect of the executive fault zone caused by intergenerational involvement and ability attributes on the intensity of strategic entrepreneurial behavior while collateral relatives enhances the promoting effect.④The second-generation social capital has a positive moderating effect, which enhances the promoting effect of the executive fault zone caused by generational involvement and ability attributes on the intensity of strategic entrepreneurial behavior.
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1660
Research on the Service Quality Measurement and Its Effect of Intelligent Customer Service from the Perspective of the Customer Journey
LIU Ruping，XU Chen，LYU Mingzhu
Based on the new perspective of the customer journey, this study developed and validated an intelligent customer service quality measurement scale employing grounded theory, exploratory and confirmatory factor analysis. The study shows that the intelligent customer service quality measurement scale consists of three stages (pre-service, during-service, post-service), nine dimensions and thirty-nine items. Specifically, the pre-service stage contains one dimension of service subject select ability, the during-service stage contains five dimensions of reliability, humanization, information quality, efficiency, and memorability, and the post-service stage contains three dimensions of convertibility, continuous improvement, and non-disruption, and the scale exhibits good reliability and validity. The intelligent customer service quality positively affects the willingness to continue to use, with the greatest impact in the during-service stage, the second highest in the post-service stage, and the least impact in the pre-service stage.
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1669
The Interactive Effect of Product Line Extension and Regulatory Focus on Consumer Purchase Intentions
HE Yue，MO Zan，PENG Danhong，WAN Xiuqi，FU Huijian
Based on self-consistency theory, this study explores whether regulatory focus moderates the influence of product line extension types (horizontal-extended status products, upward-extended status products) on consumer purchase intentions and its potential psychological mechanisms. Through two situational experiments, the results show that: regulatory focus plays a moderating role in the influence of product line extension types on consumer purchase intentions. Specifically, consumer purchase intentions with promotion focus show no significant difference between horizontal-extended and upward-extended status products, while consumer purchase intentions with prevention focus is significantly lower for upward-extended status products than for horizontal-extended status products. In addition, self-consistency plays a mediating role in the interactive effect of product line extension types and regulatory focus on consumer purchase intentions.
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1678
Cooperation Strategy for a Platform Supply Chain Considering Asset Specificity under the C2M Model
QIU Huaqing，ZHAO Lindu
Considering the asset specificity of flexible production investment under the customer to manufacturer（C2M） model，this study constructs bargaining models of the contract manufacturer and platform under the non-cooperative investment strategy，investment sharing strategy and joint venture strategy，respectively. This study discusses the supply chain cooperation conditions and the optimal investment cooperation strategy. Moreover，it analyzes the influences of asset specificity and bargaining powers on strategy decisions. The results show that the contract manufacturer and platform can achieve supply chain cooperation under the C2M model only when the misfit cost coefficient is within a moderate range. Both firms tend to choose the joint venture strategy when they have higher bargaining powers，and the investment sharing strategy is preferred when they have lower bargaining powers. In some cases，weak bargaining does not necessarily harm the platform’s profits，and asset ownerships may consolidate the contract manufacturer’s profits when it is in a weak bargaining position. Asset specificity affects the condition ranges of supply chain cooperation and the optimal strategy decision.
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1688
Heterogeneous Service Platform Direct Sales, Reselling or Hybrid Channel Structure Selection
GUO Songbo，AI Xingzheng，HE Haojia，TANG Hua
This study constructs a game model involving manufacturers and platforms, considering heterogeneous service quality efforts and two-part tariff commission contracts, to examine the channel structure of heterogeneous service platforms and identify the conditions under which direct sales, reselling and a hybrid of both become the optimal choice for platforms, manufacturers and the system. The findings indicate that heterogeneous service platforms opt for the hybrid channel when the platform charges manufacturers a fixed management fee within a certain range. The formation of a hybrid channel through manufacturer invasion of the platform leads to increased wholesale prices and exacerbates the double marginalization effect. An increase in the manufacturer’s service quality effort coefficient can reduce service heterogeneity, resulting in lower wholesale prices and higher sales in the hybrid channel, thereby encouraging manufacturers to improve service quality. By designing an effective two-part tariff commission contract, the hybrid channel achieves a Pareto optimum.
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1698
Research on Retailer’s Strategy of Introducing Store Brand under Cross-Shareholding
XIAO Lei，WANG Enming，SUN Kangtai，GUAN Xu
Consider a two-tier supply chain system consisting of a manufacturer and a retailer, where both entities hold mutual stakes and poss profit-sharing rights, while the retailer also has the capability to introduce store brand. We construct a manufacturer-dominant Stackelberg game model to explore the optimal decisions made by supply chain members in two scenarios: with or without the introduction of the retailer’s store brand, and further provide the optimal brand introduction strategy for the retailer. The research findings indicate that the retailer will only introduce the store brand when the fixed cost is low. An increase in the retailer’s ownership stake stimulates the introduction of its store brand, but the manufacturer’s ownership stake inhibits the retailer from introducing store brand. The store brand may not harm the manufacturer, especially when market competition is intense and fixed costs are low. Finally, the store brand may not only increase consumer surplus and enhance social welfare, but also lead to a win-win situation for both the manufacturer and the retailer.
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Research on the Impact of Extreme Climate Risk on Corporate Cross-Regional Investment
RAN Mingdong，ZHENG Yuan，WANG Chenglong
Using China’s meteorological data and A-share listed company data from 2007 to 2021, this study examines how extreme climate risks influence the spatial distribution of corporate investment. The findings show that extreme climate risks significantly prompt companies to invest in regions with lower climate risks, with profit-seeking motives and risk-avoidance motives playing key roles in this process. Heterogeneity analysis reveals that this effect is primarily observed in geographically non-dependent firms and private enterprises. The analysis of different types of extreme climate events shows that extreme temperatures, both high and low, have a more significant impact on corporate investment decisions in low climate risk regions, whereas extreme precipitation does not show a notable effect. Further research indicates that investing in low climate risk regions not only significantly enhances financial performance and corporate value but also effectively reduces corporate risk.
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1718
Impact of ESG Rating on Corporate Cash Conversion Cycle
LIU Chao，LI Danmeng，ZHENG Yujia
Employing a sample of A-share companies in the Shanghai and Shenzhen Stock Exchange from 2009 to 2021, this study examines whether and how ESG will affect the cash conversion cycle. The results show that ESG can decrease the cash conversion cycle, especially in accelerating the turnover speeds of accounts receivables and inventories. In addition, this effect is more pronounced in firms with higher sensitivities to environmental, societal, and corporate governance issues. Further analysis of the potential mechanisms shows that customer dependency, media coverage, product power, and financial pressure all have a role to play. Finally, the effect of ESG can also reduce the probability of financial distress and increase financial flexibility.
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1727
A Research Overview of the Connotation and Path of Enterprise Digital Transformation from an Institutional Perspective
LUO Zhangbao，CHENG Dejun
Using the method of literature review, combined with the development of the new institutionalism theory, a systematic review and integration on the connotation and path of enterprise digital transformation from the institutional perspective is conducted. It is found that the connotation of enterprise digital transformation from the institutional perspective includes four definition modules: driving mechanism, content object, hierarchical structure and result expectation；enterprise digital transformation from the institutional perspective can be divided into three research paths：institution as an environmental structure, as a dynamic process, and as a daily practice, and each of these paths has different transformation dynamics, means, hierarchical structure, subjects and strategies. On this basis, a systematic integration of the research on enterprise digital transformation from the institutional perspective is carried out with the framework of the “embedded agency” paradox. Finally, five future research directions are proposed from the aspects of connotation, path and perspective integration of enterprise digital transformation from the institutional perspective.
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