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Jan. 22, 2025
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Chinese Journal of Management
2019 Vol.16 Issue.3
Published 2019-03-01
317
Crossing the River by Feeling the Stones:The New Interpretation of Strategic Management under Dynamic and Complex Environment
LAN Hailin,ZHANG Ming,SONG Tiebo
Outstanding Chinese enterprise strategic managers tend to express their success of strategic management by “crossing the river by feeling the stones”. In terms of how to view this expression and interpret its connotation, obvious differences exist in the domestic academic circle of strategic management, which has led to the reflection on the context change and logical reconstruction of the strategic management theory. This paper argues that the preference of ‘crossing the river by feeling the stones’ by those strategic managers actually challenges the traditional strategic management theories dominated by rationalism, rather than the modern strategic management theories dominated by bounded rationalism, which demonstrates their strategic management practice in response to dynamic and complex environments is ahead of current theories. Furthermore, this paper uses bounded rational strategic management theories to analyze the strategic management practice of Chinese enterprises in the transition period, which can not only help us to reveal the practical value of ‘crossing the river by feeling the stones’ in response to the dynamic and complex environment, but also to solve the two major contradictions of logic system of modern strategic management theories. By this way, the Chinese strategic management scholar will make theoretical innovation based on Chinese context in the dynamic and complex environment to build the logic system of strategic management.
2019 Vol. 16 (3): 317- [
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Connotation and Systematic Logic of Enterprises’ Internal Context:Literature Deconstruction and Theory Reconstruction Based on Chinese Indigenous Management Research
HUANG Haixin,SU Jingqin,YANG Song,HE Wenxuan
Focusing on enterprises’ internal context,this research integrates the systematic context framework to promote an understanding of Chinese enterprises’ management practices and refining local management theories. This research begins with literature review,extracts the internal context elements of technology, strategy, institution, and structure based on the rooted idea. Next, the research makes a structured analysis at individual-team-organization level, deconstructs the logical links and effect paths among the factors and constructs the “hierarchy-element” framework with multidimensional causality, high-order structural processes, and multiple information loops. Then, the research constructs and integrates the Chinese enterprises’ context framework by a “logic behavior” analytical framework and reveals the interaction mechanisms and logical process of the Chinese enterprises’ internal and external context.
2019 Vol. 16 (3): 325- [
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333
Research on the Evolution Logic of the New Retail From the Perspective of Consumption Experience
WANG Zhengpei,LI Guoxin
This paper studies the evolution logic of new retail from the perspective of consumption experience. Through case studies, this study draws the following conclusions: The front-end of new retail realizes the integration of online and offline retail mode. The middle-end solves the consumption pain points and development bottleneck in the traditional retail mode with the support of emerging technology, while the back-end is the flexible supply chain system of retail industry. New retail is different from traditional retail in operation mode, relationship with upstream and downstream main body and consumption experience. The logic of the evolution and development of new retail is taking the traditional retail consumer experience pain point and development bottleneck as the breakthrough point, taking the new technology as the traction and taking the service quality and the market benefit as the endogenous driving force.
2019 Vol. 16 (3): 333- [
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343
Impact of Anti-Poverty Institutional Environment on Performance of Western Branches of Firms Based in Developed East China
TIAN Yu1,WANG Ke,HUANG Wei,ZHENG Yanling
From institutional and BOP perspective, the study attempts to investigate the relationship between anti-poverty institutional environment and company performance as well as its boundary conditions, with data of 122 valid samples. It is found that anti-poverty institutional environment has significant positive effect on the performance of the western branches of firms located in the developed East China and on local embeddedness as well, and affects the performance of the branches significantly and positively. Local embeddedness plays a mediating role in between and institutional distance moderates the mediation. These findings contribute theoretically to future anti-poverty policy-making, and practically to company operation in undeveloped region.
2019 Vol. 16 (3): 343- [
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351
Board Capital, Staggered Board Clause and Corporate Risk-Taking
WANG Kai,FAN Hejun,XUE Kunkun,XU Jinhua
This paper focuses on one important way to protect managers’ controlling rights in China’s capital market, that is, the establishment of staggered board clause. We analyze what affects the establishment of this clause and what are the consequences. Firstly, based on resource perspective, this study proposes that board capital has an important impact on the establishment of staggered board clause. Secondly, taking corporate risk-taking as the research situation, this study explores two different mechanisms through which the staggered board clause works. One is from resource perspective, and the other is from agency perspective. Using data about staggered board clause collected from articles of association, this study empirically tests what affects the establishment of this clause and its consequences. We find that, board capital positively affects the establishment of staggered board clause, while its establishment negatively moderates the positive relationship between board capital and corporate risk-taking.
2019 Vol. 16 (3): 351- [
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The Effect of Mindfulness on Work-to-Family Enrichment: Evidence from Experience Sampling Methods
ZHENG Xiaoming,NI Dan,LIU Xin
Based on conservation of resources (COR) theory and using experience sampling methods (ESM) to collect data from 79 front-line employees of a commercial bank in China, this paper investigates the relationship between mindfulness and work-to-family enrichment, examines the mediating role of work engagement, and explores the moderating role of surface acting. The results indicated that at the within-person level, mindfulness was positively related to work-to-family enrichment, and work engagement mediated this relationship; at the between-person level, surface acting moderated the effect of mindfulness on work engagement as well as the mediating effect of work engagement at the within-person level, such that both effects were weaker when surface acting was higher rather than lower.
2019 Vol. 16 (3): 360- [
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369
The Methods and Results of Increasing Employee-Organization Goal Congruence-A Case Study of the “Qian Jin Management Method”
YAN Aimin,JIANG Duanyu,SUN Yiyan,XIE Aiwei,HAO Yingchun
Based on person-organization fit theory and using a goal congruence perspective,this research analyzes the case of Qianjin Pharmaceutical Group’s “Qianjin Operating Method.” Findings indicate that four components that make this method successful in improving person-organization fit: performance-based pay, building group incentives, making employees stakeholders, and consistency of modules. This research provides theoretical guidance for making employees into stakeholders,motivating employee behavior,recognizing that employees are the foundation of the company,effectively rewarding employees,and improving organizational performance. Results show that the “Qianjin Operating Method” increases employee-organization fit,which has beneficial effects on employee proactive behavior,employee performance,and organizational performance.
2019 Vol. 16 (3): 369- [
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379
Research on the Relationship among Supply Chain Integration, Innovation Capabilities, and Financing Performance of Technology-Based SMEs
SONG Hua,CHEN Sijie
Based on the research perspective of innovation ecosystem, taking value co-creation as the main research clue, and following the analysis logic of behavior-capabilities-financing performance, this study explored the specific mechanism of technology-based SMEs leveraging internal and external activities and capabilities to alleviate capital constraints. Specifically, this study distinguished two type of innovation capabilities (internal innovation potential and open collaborative open innovation), and two sources of innovation capabilities (internal integration and external integration), and further discussed the specific relationships among integration activities (innovation capabilities and technology-based SMEs’ financing performance). Then the study explored how to leverage the external collaborative power to enhance the financing performance of technology-based SMEs. An empirical analysis of 249 technology-based SMEs shows that there are complementary relationships among SMEs’ internal activities, external activities and capabilities in improving SMEs’ financing performance. In addition, external collaborative networks play a more important role in improving SMEs’ competitiveness.
2019 Vol. 16 (3): 379- [
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Technological Resources, R&D Investment and M&A Innovation Performance of the New Generation of Information Technology Enterprise
WANG Wei,LI Hongyang
Taking the tech M&A of the new generation of information technology listed companies in Shanghai and Shenzhen A shares from 2013 to 2016 as the research sample, by building the mediated moderation model, based on the empirical test of the relationship between acquirer enterprise’ technological resources and innovation performance, we further studied the regulating effect of technological disparity and the mediating effects of R&D investment. Research result shows that: the technological resources of acquirer enterprise have positive impact on innovation performance and R&D investment;R&D investment plays a partial intermediary role between technological resources and innovation performance; technological disparity negatively moderates the relationship between technical staff and R&D investment, but positively moderates the relationship between R&D project and R&D investment; and technological disparity moderates the relationship between technological resources and innovation performance by regarding R&D investment as mediation.
2019 Vol. 16 (3): 389- [
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397
Stakeholder Network and Corporate Social Responsibility of Private Enterprises
ZHAO Tianjiao,XIAO Xiang,ZHANG Bingshi
Stakeholder network is an essential channel that enterprises raise, spread, and exchange resources such as information and relationship. Based on a sample of China’s Shanghai and Shenzhen A-share private firms during 2010~2016, we examine the influence of stakeholders’ network characteristics on corporate social responsibility performance, and further investigate the moderating role of environmental uncertainty. Through theoretical analysis and empirical tests, we find that the centrality of private enterprise stakeholders’ network will promote their social responsibility performance. At the same time, the private enterprise’s social responsibility will also be influenced by the centrality of other enterprises which are connected in the stakeholder network, thus verify the synergistic effect of social networks. In addition, the environment uncertainty plays a negative moderating role between stakeholder network centrality and enterprise social responsibility.
2019 Vol. 16 (3): 397- [
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The Effect of Corporate Social Responsibility Disclosure on Financial Performance from the Perspective of Signaling Theory
CHEN Cheng,WANG Zongjun,YE Yun
Combining with the signal theory, this study separates corporate social responsibility (CSR) disclosures into governance information and output information, and explains their differences in signal features. On this basis, this paper respectively examines the signaling effect of CSR governance and output disclosures on economic returns and then considers how the signaling effect varies with the institutional environments. Using the sample of China’s A share listed companies from 2011 to 2016, a significant and negative (positive) relationship between CSR governance (output) disclosure and financial performance is found. This negative (positive) relationship is stronger in the less developed institutional environments than in the more developed ones. Further analysis reveals that such findings only exist in mandatory disclosure samples.
2019 Vol. 16 (3): 408- [
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The Effect of Impaired Perceptual Control on Consumers’ Willingness to Recommend in the Context of Forced Positive Evaluation
WANG Yanzhi,LU Hongliang
From the perspective of perceived control impairment, this study explores the negative impact of forced positive comments on consumers’ willingness to give good evaluations as well as the impact of compulsory favorable comments on consumers’ recommendation intention. The results of two scenario simulation experiments show that the forced praise behavior of enterprises can negatively affect the consumers’ evaluation and recommendation willingness through the lack of sense of control, and that the sense of power plays a moderating role in the above relationship. Comparing with the people with low sense of power, the negative impact of corporate forced positive feedback on the willingness to recommend is more significant among people with a high sense of power by the mediating role of perceived control impairment.
2019 Vol. 16 (3): 418- [
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The Influence of E-WOM Dispersion on Purchase Intention: The Moderating Role of Endowment Effect
XIE Guangming,JIANG Yushi,SHI Chunlai
Electronic word-of-mouth (e-WOM) dispersion, reflecting the extent of reviewers’ opinion divergence regarding the product, determines consumers’ purchase decision. Based on the prior work, this study investigates the contextual antecedents of the existing attribution choice model for e-WOM dispersion. The empirical findings of three case studies using 332 participants showed that ①consumers exhibiting strong endowment for a product/service are more tolerant of the high dispersion option; ②when consumers exhibit strong endowment for a given product, feelings of ‘pre-factual ownership’ associated with emotional attachment will mitigate the negative influence of e-WOM dispersion on purchase intention by promoting reviewer-related attribution, rather than product-related attribution.
2019 Vol. 16 (3): 425- [
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Impact of the Matching Effect between Green Advertising Appeal and Information Framework on Consumer Responses
SHENG Guanghua,YUE Beibei,GONG Siyu
Based on Elaboration Likelihood Model and Prospect Theory, through three experiments,we investigate the influence mechanism of green advertising appeal, information framework and the matching effect on consumer responses. Results demonstrate that egoistic advertising appeal has more positive effect than altruistic advertising appeal, and loss-information framework has more positive effect than benefit-information framework. There exists matching effect between green advertising appeal and information framework. It shows better effect when egoistic advertising appeal matching with loss-information framework while altruistic matching with benefit-information framework and the matching effect positively affects consumer responses. Advertising attitude plays a mediating role between matching effect and green purchase intention. Enterprises should pay attention to the matching effect of green advertising appeal and information framework in developing green marketing strategies of green products to achieve effective green advertising goal.
2019 Vol. 16 (3): 439- [
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447
Vertical Structure Selection of Competitive Two-Sided Platforms
ZHONG Li,AI Xingzheng,WANG Ganfu
This study builds a game model based on competitive two-sided platforms in which the platform provides hardware products for consumers. One side of the platform is the complementary software provider, and the other side is the customer. It compares the profits of the platforms under three competitive conditions—both of the platforms are vertical separation structure, both of the platforms are vertical integration structure, and one platform is vertical integration structure, and the other one is vertical separation structure—to reveal the dynamic evolutionary process of the platforms’ vertical structure. The results show that whether the platform adopts vertical separation or vertical integration structure, under certain conditions, the platform subsidizes for the consumers who buy hardware, and with the increase of platform competition intensity, the dependence of the platform on software providers increases. When the price sensitivity coefficient of software is small, or the price sensitivity coefficient of software is large, and the hardware competitive intensity is small, the vertical integration is the dominant strategy for both of the platforms; when the price sensitivity coefficient of software and the hardware competitive intensity are both large, the vertical integration strategy is the equilibrium of the prisoner’s dilemma.
2019 Vol. 16 (3): 447- [
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456
Market Game Analysis of New Products with Different Innovation Degree under Two-Stage Competition
LI Zhendong,ZHANG Huiying
Based on the product life cycle theory, the competition between the two types of new products with different innovation degrees can be divided into two stages. By analyzing the game relationship of manufacturers and retailers in two stages of the competition, we found that the optimal retail prices of products will be lower and market demand will be greater than that in Manufacturer-dominate Stackelberg game at the early stage of the competition if the dominant manufacturers form Nash game with the retailer. Furthermore, in the market formed by two new products with different innovation degrees, when one party improves the innovation degree of own product, it does not reduce the demand of the other party’s products but can promote the increase of the two products’ demands. Finally, it is observed that the two-parties alliance of manufacturer and retailer can significantly increase the market share of own product at the late stage of the competition, but reduce the profit of manufacturers.
2019 Vol. 16 (3): 456- [
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465
Evaluation and Enlightenment of Silver Entrepreneurship Research Based on the Elderly as Entrepreneur
LI Huajing
Through combing and refining of foreign literature, we propose silver entrepreneurship helps to cope with the global aging impact and enhance the social innovation potential of entrepreneurship. Based on the concept of silver entrepreneurship, this research extracts four common research perspectives, and analyzes the influencing factors and effects of silver entrepreneurship from the micro and macro levels. Thus, we propose the specific enlightenment of China’s entrepreneurial practice in the context of an aging society. We carry out future research prospects from two aspects, situational embedding and mechanism analysis, in order to provide reference for entrepreneurial theory innovation and social welfare development.
2019 Vol. 16 (3): 465- [
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