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Chinese Journal of Management
2021 Vol.18 Issue.11
Published 2021-11-01
1581
Research on the Overseas Market Expansion Mechanism of Born Global Firms in Emerging Markets: A Case Study of Two Chinese High-Tech Enterprises
ZOU Likai,TANG Jifeng，LI Xinchun1
Based on the case study of two Chinese high-tech enterprises, this study analyzed how born global firms in emerging markets identify and develop international entrepreneurial opportunities to realize overseas market expansion. The results showed that: cases of enterprises could focus their limited resources on specific market segments for international opportunity identification and development through niche market focus strategies, including local technology areas and customer segmentation. In the face of market promotion of segmented customer market, it relies on localization promotion and rapid response of international cooperation to realize market development of host country. In particular, enterprises prefer product positioning rather than enterprise positioning to achieve niche marketing. In the product innovation focusing on the local technology field, the rapid product innovation iteration is very important. Enterprises tend to concentrate on the innovation resources of the home country rather than the host country to develop products, which takes advantage of R&D cost and human resources of home country to help R&D and product iteration in the field of specialized technology.
2021 Vol. 18 (11): 1581- [
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1589
New Product Architecture Innovation Mechanism Based on Ambidextrous Learning and Organizational Unlearning——A Case Study of Small and Micro Enterprise Management Cloud Platform：Bizchat
DUAN Caili，GU Yuanxun
Based on the organizational learning perspective, this study conducts a longitudinal analysis of product architecture innovation in the Bizchat of Chanjet R&D department to explore the product architecture innovation mechanism under the synergy of ambidextrous learning and organizational unlearning. The results show that: under different goal orientations, enterprises carry out system-led radical innovation, modular innovation, component-led incremental innovation and architectural innovation. Moreover, different collaborative mechanisms of ambidextrous learning and organizational unlearning provide impetus for different types of new product architecture innovation.
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1612
Research on the Impact of Government Cooperation on Inter-Regional Collaborative Innovation Based on the Quasi-Natural Experiment
XIE Qijun，GAO Jie，SU Jun
Whether a city joins the Urban Economic Coordination Association of the Yangtze River Delta (UECAYRD) is considered as a quasi-natural experiment of government cooperation. This study uses the panel regression model and differences-in-differences (DID) to research the effect of government cooperation on inter-regional collaborative innovation with the panel data of 41 cities in Shanghai, Jiangsu, Zhejiang and Anhui. Both the benchmark model and the empirical research results after the sample expansion show that joining the UECAYRD can not only enhance inter-city collaborative innovation in the Yangtze River Delta, but also help enhance overall inter-city collaborative innovation. Further research finds that this promotion effect will gradually promote as the time of joining the UECAYRD increases, indicating that cities in the Yangtze River Delta region can continue to promote their inter-regional collaborative innovation by joining the UECAYRD.
2021 Vol. 18 (11): 1612- [
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1619
Research on the Structural Characteristics of Unicorn Enterprise-Investment Institutions Dual Mode Network in China and Its Impact on Enterprise Value and Investment Performance
HU Dongmei，ZHANG Meijing，CHEN Weizheng，CHEN Yuling
The study uses the data of unicorn enterprises and investment institutions from 2018 to 2020 in the Hurun Research Institute and Zero2IPO Private Equity Database as samples, applies Ucinet software to construct dual mode network of unicorn enterprise-investment institution and analyzes its network features. The research results show that: the centrality of unicorn enterprise nodes in the dual-mode network has a significantly positive impact on corporate value; the centrality of investment institution nodes in the dual-mode network has a significantly positive impact on investment performance; Unicorn industry type diversity has a significantly negative moderating effect on the relationship between the centrality of investment institution nodes and investment performance.
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1629
The Formation and Prevention of Unethical Pro-Supervisor Behavior from the Perspective of Chinese Bao Culture
FU Bo，PENG Jian，CHEN Zhi
Taking Chinese “Bao” theory as starting point, and basing on survey data from 326 employees and their supervisor, this paper aims to explore the formation mechanism of unethical pro-supervisor behavior. The results show that: (1) There exists a significantly positive correlation between supervisor-subordinate guanxi and unethical pro-supervisor behavior. (2) Both instrumental commitment and affective commitment are partial mediators between supervisor-subordinate guanxi and unethical pro-supervisor behavior. The mediating effect of affective commitment is stronger than instrumental commitment. (3) The subordinate’s moral identity moderates the relationship between instrumental commitment and unethical pro-supervisor behavior and the indirect relationship between supervisor-subordinate guanxi and unethical pro-supervisor behavior through instrumental commitment such that this relationship is weaker for subordinates with high levels with low levels between supervisor-subordinate guanxi and unethical pro-supervisor behavior is not moderated by moral identity.
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1640
Research on the Influence Mechanism of Workplace Status on Craftsmen Talents’ Career Calling
ZHAO Chenhui，CHEN Zimeng
Based on the Self-determination Theory, 359 craftsmen talents were selected as samples through two-stage data collection to conduct empirical tests. The process model of the influence of workplace status on career calling was explored and constructed, with passion as the mediating variable and pay understanding as the moderating variable. Research results show that workplace status has a positive impact on career calling; Passion partially mediated the relationship between workplace status and career calling; Pay understanding weakens the relationship between workplace status and passion, and also weakens the indirect effect between workplace status and career calling.
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1649
Study on the Relationship between Spiritual Leadership and Employees’ Positive Followship Behavior from the Integrated Perspective of Leader Identification and Self-Determination
CUI Zunkang，LIU Pingqing，YANG Fang，LIU Ran，YANG Zheng
Based on the integrated perspective of leader identification theory and self-determination theory, through a multisource questionnaire study of a total of 543 employees in many companies in Beijing, Shenzhen, Harbin and other places, this paper explores and tests the mediating mechanism of the influence of spiritual leadership on employees’ positive followship behavior, and examines the boundary effect of employees’ individual spirituality. The empirical results show that: spiritual leadership has a significant positive impact on employees’ positive followship behavior, and leader identification plays a mediating role in the relationship between them; employee’s spirituality plays an inverted U-shaped moderating role in the relationship between spiritual leadership and leader identification, and also moderates the mediating role of leader identification between spiritual leadership and employees’ positive followship behavior in an inverted U-shaped manner. Finally, the theoretical and practical implications of the study are discussed.
2021 Vol. 18 (11): 1649- [
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1659
The Impact of Intergenerational Succession Stages on Innovation Investment of Family Businesses with the Moderating Effects of Inheritor Characteristics
YAN Ruosen，WU Mengxi，LI Hao，YUAN Jing
This study uses the listed family businesses in China from 2012 to 2018 as the research samples to empirically research the impact of the intergenerational succession stages on the innovation investment of family businesses. The moderating effects of two inheritor characteristic variables, namely the founder status of parents and internal training time of second-generation, are discussed in two stages respectively. The results show that: ①compared with the family businesses without intergenerational succession, the family businesses in the second-generation involvement management stages have lower innovation investment, and compared with the family businesses in the second-generation involvement management stages, the family businesses in the second-generation takeover management stages have higher innovation investment; ②the founder status of parents has a significantly negative moderating effect on the relationship between the second-generation involvement management and innovation investment, while internal training time of second-generation has a significantly positive moderating effect on the relationship between second-generation takeover management and innovation investment.
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1671
Research on Government Innovation Subsidies Based on Technology Spillover Effects
HUANG Fuguang，KE Di1，WANG Xianlong，HU Sunyang
Taking the 2009~2018 SME and ChiNext listed companies as a sample, this study research the relationship between government innovation subsidies and enterprise technological innovation investments from the perspective of technology spillover. The results show that: Government innovation subsidies significantly promote firm’s innovation input; Technology spillover generates external costs, which significantly inhibits firm’s innovation investment; Government subsidies for enterprises with high technology spillover can reduce the negative impact of technology spillover external costs, which can improve the efficiency of government innovation subsidies. Further research has found that government innovation subsidies for high-tech spillover enterprises can further promote the substantive innovation of enterprises. In areas with weak intellectual property protection, it is more efficient to provide government innovation subsidies for high-tech spillover enterprises. Research shows that properly adjusting the direction of government innovation subsidies can not only promote the innovation of subsidized enterprises, but also improve the overall innovation level of the society, improve the efficiency of government fund utilization, and increase the power of economic transformation.
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1679
Channel Diversification, Cross-Channel Conflict and Firm Performance
LU Tingyu，ZHUANG Guijun
Applying the logic of the open systems theory, this study examines how a firm’s channel diversification affects cross-channel conflict and firm’s performance, as well as the influence of moderating effect of IT capabilities, IT utilization capabilities on the relationship between channel diversification, cross-channel conflicts, and firm’s performance.By analyzing a sample of 520 collected from manufacturers, it is found that, first, channel diversification tends to cause cross-channel conflict, but promote firm’s performance. Second, IT capabilities tend to mitigate the positive effect of channel diversification on cross-channel conflict, but strengthen the positive effect of channel diversification on firm’s performance. Third, IT utilization capabilities tend to mitigate the positive effect of channel diversification on cross-channel conflict.
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1686
Research on the Influence of Relationship Ties and Customer Commitment on Consumers’ Online Purchase Intention in Live Streaming Marketing
PENG Yuhong，HAN Huan，HAO Liaogang，HUO Jiale，WANG Yedi
Based on social exchange theory, this study aims to explore the influence of different types of e-commerce live relational bonds on consumers’ intention of online purchasing and driving mechanism, and to analyze the moderating effect of the external environmental factor of time pressure. In order to verify the research hypothesis, 459 valid questionnaires were collected and conducted empirical analysis using Amos software. The results show that: the e-commerce live streaming relational bonds have a direct positive impact on the online purchase intention of live streaming consumers; The relational bonds promote the online purchase intention of live streaming consumers through the mediating role of customer commitment. Among them, the financial bonds and the structural bonds promote the purchase intention through the computational commitments, and the social bonds enhance consumers’ online purchase intention through affective commitment. Time pressure plays a moderating role between relational bonds and customer commitment.
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1695
The Integrated Optimization Research of Cross-Regional Supply Chain for Spare Parts Based on 3D Printing Technology
HE Peiyang，LI Kunpeng，LI Wenli
The efficient coordination between 3D printing production and Just-in-time delivery can effectively avoid the pain points in traditional spare parts manufacturing. The integrated cross-regional spare parts supply chain synergy optimization problem considering 3D printing preparation time , temporary inventory costs and commit-to-delivery mode is studied in this paper. A mixed integer programming model is established to minimize the temporary inventory costs and transportation costs. According to the Dantzig-Wolfe decomposition principle, the optimization models for the master problem and the pricing sub-problem are formulated respectively. The property of the optimal solution is derived and an improved branch-and-price algorithm is proposed to solve the problem. The proposed algorithm is proved to be effective by comparing with the small-size instances results solved by CPLEX. By analyzing the impact of 3D printing preparation time on the total cost, the optimization plan under the different proportions of temporary inventory cost and transportation cost, it provides efficient scientific decision-making for spare parts supply companies in the intelligent manufacturing environment.
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1704
A Dual-Theoretical Study on How Does Cross-Organizational Relationship Management Affect Supply Chain Performance
ZHANG Xuan，ZHAO Jun，LI Jiali，LU Yiming
Based on the dual theoretical perspective of transaction cost theory and relational exchange theory, this study divides the cross-organizational relationship management mechanism in the supply chain into transactional stance and relational stance, and data were gathered through a survey of manufacturing firms in China and the Netherlands, which were analyzed using the SEM technique. The results revealed that the impact of the socio-economic and cultural level of different countries on the effectiveness of two types of cross-organizational relationship management mechanisms does exist. Specifically, in the national environment represented by China, only the relational stance cross-organizational relationship management is effective in improving both service and cost performance of firms’ supply chain, while in the national environment represented by the Netherlands, only the transactional stance cross-organizational relationship management is effective in improving cost performance of firms’ supply chain.
2021 Vol. 18 (11): 1704- [
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1714
The Impact of Supply Chain Dynamics on the Implementation of Management Innovation in a Turbulent Environment
ZHANG Zhen’gang，XU Yamin，SHEN He
Based on the dynamic capability theory, this study builds a theoretical model of supply chain dynamic capability on management innovation implementation, and incorporates environmental turbulence into the research model. We conducted an empirical testing on 320 valid questionnaire survey data, and the results showed that the supply chain dynamic capabilities focus on two dimensions (i.e. learning and absorbing capability, reconstruction and change capability). Learning and absorptive capability can positively influence management innovation implementation through restructuring and change capability, and environmental turbulence can positively regulate the relationship between supply chain dynamic capability and the management innovation implementation. At the same time, the results also showed that the ability of restructuring and change can help enterprises find the way to manage innovation more quickly in the rapidly changing environment.
2021 Vol. 18 (11): 1714- [
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1721
The Impact of Industrial Policy Uncertainty on Corporate Cash Holdings：A Natural Experiment Based on the Change of National Five-Year Plan
YANG Jie，ZHAN Wenjie，LI Yuee
With the periodical change of Five-Year Plan(FYP) during 2008～2017 as natural experiment, we analyze the relationship between industrial policy uncertainty caused by the change of FYP and corporate cash holding. We find that corporates hold more cash in the year of FYP change. The result is robust with the consideration of endogeneity. The increment of cash holding is mainly in the industries more sensitive to policy change. With the approaching of FYP change year, corporates increase cash holding year by year, and decrease cash holding after new FYP is announced. We also find that financial constraint strengthens the positive relationship between industrial policy uncertainty and corporate cash holding. Finally, we find that a part of the increase of cash holding is from the decrease of trade credit provision, which means that the causality between industrial policy uncertainty and corporate cash holding is at the cost of abandoning sales revenue.
2021 Vol. 18 (11): 1721- [
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1730
The Impact and Mechanism of Appraisal Institutions on Goodwill Bubble
GENG Jianxin，DING Han
Based on the M&A events of China’s A-share listed companies from 2013 to 2019, this study analyzes the impact of appraisal institutions on M&A goodwill and its internal mechanism. It is found that the M&A events with the participation of asset appraisal institutions show lower excess goodwill, and the proportion of goodwill impairment in subsequent periods is also lower, which indicates that appraisal institutions can inhibit goodwill bubbles. Mechanism test shows that the improvement of evaluation accuracy and the mitigation of reputation constraints of appraisal institutions to the management agency problem are the paths to achieve the above effects. The PSM-DID test, which takes the introduction of appraisal standards as the policy impact, still supports the above conclusion after controlling the endogenous problems. Extensive research has found that mergers and acquisitions experience, internal control quality and external market environment will significantly affect the inhibitory effect of appraisal institutions on goodwill bubbles.
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