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Chinese Journal of Management
 
2023 Vol.20 Issue.5
Published 2023-05-01

631 Taking the High Ground,Completing Things with the Trend: Construction of Yili’s Sustainable Competitive Advantage under the Adaptive Management Practice
CHANG Qing,WANG Zhemin,JI Gedi,ZHANG Lu,ZHANG Qiang
This study adopts vertical single case studies to analyze the entire process of Chairman Pan Gang leading Yili to respond to environmental changes through strategic transformation and build sustainable competitive advantage under the constraints of resources and capabilities,and to summary his adaptive management thinking. The results show that, the interactive matching of entrepreneurial cognition and the time vision of leaders promotes enterprises to timely change the stage development logic to effectively respond to the changes of external environment. The space vision of leaders is conducive to enhancing the ability of enterprises to recognize and integrate resources, thus improving the implementation effect of innovation activities. Strategy implementation absorbs and transforms external resources through product innovation and complementary asset innovation, complements the resources and capacity defects of enterprises and cultivates core capabilities. The adaptive management ideas of entrepreneurs such as “Response Environment”, “Open up new markets” and “with the aid of external force” are the key to guiding the updating and implementation of enterprise strategies and ultimately building sustainable competitive advantages.
2023 Vol. 20 (5): 631- [Abstract] ( 234 ) [HTML 1KB] [ PDF 2032KB] ( 429 )
643 Research on the Mechanism of the Autonomy Generation of Industry Associations in the Post-Decoupling Era——A Multi-Case Analysis Based on the Organization Identity Theory
TAN Lingbo,ZHAN Youya,HUANG Wenyin
In order to study the generating mechanism of the autonomy of industry associations from the perspective of organizational identity, this study selects eight industry associations in the Yangtze River Delta region and adopts a multi-case comparative study of replication logic. The results show that, industry associations are faced with three types of regulatory logic in institution: control, normative and nurturing logic, which respectively affect the meaning construction of dependent, functional and beneficial organizational identity. Secondly, organizational identity affects the meaning ascriptions of stakeholders’ instrumental resource exchange relationship, dualistic partnership interaction relationship and integrated network alliance relationship. Lastly, the meaning ascriptions of interaction relationship between industry association and stakeholder promotes the formation of market contact, market focus and market development autonomy.
2023 Vol. 20 (5): 643- [Abstract] ( 215 ) [HTML 1KB] [ PDF 1243KB] ( 339 )
655 The Born Global: Research on Digital Product Development Mechanism Based on Overseas User Insight
XU Hui,SUN Yi,ZHOU Qi,XU Hui
By selecting the development process of the digital product “TikTok” under Bytedance and the digital product “Genshin” under Mihayou for a comparative analysis of two cases, and taking the insight of overseas users as the logical starting point of analysis, this study discusses the development mechanism of digital products. The results show that, enterprises can understand the characteristics of overseas users of digital products from the perspectives of content, interaction, and relationships. Secondly, the differentiation of user characteristics forms two types of digital product development mechanisms: user driven and designer driven. User driven development mechanisms are specifically manifested as exploratory product design, adaptive human-machine communication, and participatory content diffusion. The designer driven development mechanism is specifically manifested as developmental product design, dominant human-machine communication, and heuristic content diffusion. Thirdly, the development process of two types of digital products with different driving types follows open and semi open innovation logic. The former empowers ordinary users to become co-developers of enterprises, achieving continuous product innovation in the development process, while the latter integrates user data as development resources and integrates it into designer led development tasks, achieving intermittent product innovation in the development process.
2023 Vol. 20 (5): 655- [Abstract] ( 229 ) [HTML 1KB] [ PDF 1291KB] ( 861 )
667 Research on the Influence of Firm Digitization on Strategic Aggressiveness
WANG Molin,YAN Haifeng,SONG Yuanyang
Based on the data of listed firms from 2008 to 2020, this study uses Python to mine the keywords of the annual report, constructs the firm-level digitization degree index, and empirically tests the relationship between the firm digitization and the strategic aggressiveness. The results show that, firstly, the higher the degree of digitalization of the firm, the more aggressiveness its strategy is; secondly, the degree of digitization has a stronger positive impact on the strategic aggressiveness for the firm with private ownership, high internal control quality, and abundant redundant resources, and the moderating effects of redundant resources are significantly stronger than the other two; finally, the degree of digitization significantly promotes the growth of the firm, and the above relationship is mediated by strategic aggressiveness.
2023 Vol. 20 (5): 667- [Abstract] ( 288 ) [HTML 1KB] [ PDF 1196KB] ( 539 )
676 Formation Mechanism of Danmaku Use Intention of Livestreaming Consumers in Multi-Communicating Context
SUN Kai,LIU Chenglin,LIU Luchuan
In order to explore the effect of multi-communicating on consumer experience and the formation mechanism of danmaku use intention under the multi-communicating context, this paper employs Stimulus-Organism-Response framework, collects 476 valid questionnaires and applies structural equation model to analyze the data. The results revealed that multi-communicating can affect consumers’ danmaku use intention through positive and negative ways: ①multi-communicating increases consumers’ social presence, which meets their connectedness needs, and finally improves consumers’ danmaku use intention; ②multi-communicating leads to the attention distraction of consumers, which causes them disgust, and finally reduces their danmaku use intention; ③content consistency between communications with the author and other consumers can reduce the effect of multi-communicating on social presence and attention distraction; ④users’ online interaction propensity can reduce the effect of multi-communicating on attention distraction.
2023 Vol. 20 (5): 676- [Abstract] ( 228 ) [HTML 1KB] [ PDF 1242KB] ( 386 )
684 The Effect of Leadership Non-Contingent Punishment on Employee Adaptive Performance
DU Pengcheng,PAN Meng,SONG Kuntai,LIU Shengyang
Based on the theory of information-seeking motivation, this study discusses the influence of non-contingent punishment behavior of leadership on employees’ adaptive performance, the mediating role of employee feedback avoidance behavior, and the moderating role of employees’ prevention regulatory focus by using SEM and fsQCA on 585 valid data obtained from a questionnaire survey in three stages. The results show that leadership non-contingent punishment had a significant negative impact on the adaptive performance of employees, and the employee feedback avoidance behavior played a part of the mediating role. The focus of employee prevention regulatory not only positively moderates the relationship between the leadership non-contingent punishment behavior and the feedback avoidance behavior of the employee, but also enhances the negative impact of the leadership non-contingent punishment behavior on adaptive performance through the employee feedback avoidance behavior; In addition, the above conclusions were confirmed by fsQCA.
2023 Vol. 20 (5): 684- [Abstract] ( 218 ) [HTML 1KB] [ PDF 1289KB] ( 686 )
695 Research on the Influencing Mechanism of Employees’ Helping Behavior on Their Subsequent Silence under the Perspective of Moral Licensing Theory
HE Peixu,ZHOU Hanhui,WU Mengying,XIA Qing,QU Jiaojiao
Based on moral licensing theory, this study proposes a moderated mediating effect model with moral credentials as the mediating variable and moral awareness as the moderating variable, and explores the moral cognitive mechanism of the phenomenon “ employees’helping first and then being silent” through a multi-stage questionnaire research. The findings indicate that employees’ helping behaviors positively influence their subsequent silent behavior, and the moral credential has a significant mediating effect in the process of turning employees’ helping behaviors to silent behavior. Furthermore, moral awareness not only negatively moderates the effect of employees’ helping behaviors on moral credentials, but also negatively moderates the mediating effect of moral credentials between employees’ helping behaviors and silent behavior.
2023 Vol. 20 (5): 695- [Abstract] ( 276 ) [HTML 1KB] [ PDF 1220KB] ( 462 )
705 Research on the Influence Mechanism of Illegitimate Tasks on Turnover Intention of Employees from the Perspective of Psychological Contract
LI Pengbo,GAO Jing,HUANG Zixin,WANG Runna
Based on social exchange theory and the perspective of psychological contract, this study discusses the influence mechanism of illegitimate tasks on turnover intention of employees and examines the mediation role of psychological contract violation, as well as the moderation role of justice sensitivity and authoritarian leadership. Through analyzing the questionnaire data from 330 front-line employees, the results show that illegitimate tasks positively affect turnover intention of employees, and psychological contract violation mediates the relationship between illegitimate tasks and turnover intention; Justice sensitivity and authoritarian leadership can strengthen the impact of illegitimate tasks on psychological contract violation, and further moderate the mediating effect of psychological contract violation between illegitimate tasks and turnover intention of employees. On this basis, the mediating effect of psychological contract violation between illegitimate tasks and turnover intention of employees is strengthened even more under the condition of relatively high justice sensitivity and high authoritarian leadership.
2023 Vol. 20 (5): 705- [Abstract] ( 422 ) [HTML 1KB] [ PDF 1217KB] ( 613 )
715 Research on the Impact of Non-Local Chamber of Commerce with the Dual Attributes of Business Culture and Social Network on Enterprise Innovation
YAN Ruosen,ZHOU Ran,ZHANG Jinhao
Based on the dual attributes of business culture and social network attributes of non-local chamber of commerce (NLCC), this study empirically examines the impact of enterprises’ participation in NLCC on enterprise innovation by taking A-share listed companies from 2010 to 2020 as samples. The results show that joining the NLCC can significantly promote the enterprise innovation, the agency costs play a part in mediating between enterprises joining the NLCC and business innovation, and there is a chain mediating path of “NLCC—social capital—agency costs—enterprise innovation”. Further research shows that the more the number of NLCC in the place where the enterprise is located, the greater the promotion effect of joining the NLCC on innovation; And the participation of state-owned enterprises in the NLCC has a greater promotion effect on innovation than non-state-owned enterprises. Moreover, the participation of enterprises in the NLCC can not only promote the invention innovation, but also promote the non-invention innovation.
2023 Vol. 20 (5): 715- [Abstract] ( 196 ) [HTML 1KB] [ PDF 1231KB] ( 283 )
725 The Impact of External Technology Acquisition Timing on Enterprise Innovation Performance
HU Cheng,ZHU Xuezhong,TENG Ziyou
This study constructs a real option model of external technology acquisition, analyzes the decision-making mechanism of external technology acquisition opportunities of enterprises, and puts forward research hypotheses. The relevant hypotheses are empirically tested with Chinese manufacturing listed companies as samples. The research finds that, firstly, the optimal time to acquire external technology is determined by the proportion of external technology, the ratio of external technology to independent R&D innovation income, and the uncertainty of innovation income. When the ratio of external technology acquisition to innovation income of independent R&D is low, or the proportion of external technology is low, or the uncertainty of innovation income is high, enterprises should choose to postpone external technology acquisition. Secondly, in the patent assignment mode, enterprises with strong innovation ability that acquire external technology before the target technology is granted a patent can better promote their innovation performance, while for enterprises with weak innovation ability, the acquisition of external technology after the target technology is granted a patent can better promote their innovation performance.
2023 Vol. 20 (5): 725- [Abstract] ( 200 ) [HTML 1KB] [ PDF 1286KB] ( 290 )
735 The Effect of Risk-Averse Medical Institutions’ Procurement Strategies on the Pharmaceutical Supply Chain
WU Lu,GUO Qiang,NIE Jiajia
Based on the purchasing policy of China’s drug market group, this study constructs a pharmaceutical supply chain procurement model in the presence of group purchasing organizations, and analyzes the impact of risk-averse characteristics of medical institutions on procurement strategies. The results show that: First of all, when the economy of scale brings small discounts, medical institutions adopt the same purchasing strategies as when they are risk-neutral. Besides, when the economy of scale brings large discounts, if the market size is larger, the purchasing strategy of medical institutions will change from decentralized purchasing to group purchasing with the degree of risk aversion increases; If the market size is small, medical institutions adopt the group purchasing strategy. Finally, when the level of risk aversion of medical institutions and the market size are at a certain level, medical institutions and pharmaceutical company can achieve a win-win situation.
2023 Vol. 20 (5): 735- [Abstract] ( 151 ) [HTML 1KB] [ PDF 1289KB] ( 376 )
747 The Optimal Decision of Crowdsourcing Logistics Platform Considering the Satisfaction of the Employer and the Number of Free Deliverers
MENG Xiuli,LIU Bo,AN Kun
Combined with the characteristics of crowdsourcing and traditional logistics modes,a Crowdsourcing Logistics Platform profit optimization model is proposed to emphatically studied the influence of the satisfaction of the employer and the number of free deliverers on the operation strategy of the crowdsourcing logistics platform. The welfare changes of all parties in the logistics market and the optimal number strategy of free deliverers when social welfare is maximized are also discussed. The research shows that: The crowdsourcing logistics platform can set the optimal service price and the unit return of free deliverers according to the traditional logistics service price and the number of free deliverers; The welfare of the employer increases first and then decreases with the increase of satisfaction, and is positively correlated with the number of free deliverers. The overall welfare of free deliverers is positively correlated with the satisfaction of the employer, and increases first and then decreases with the increase of the number of free deliverers; When the satisfaction of the employer is low and the service price of traditional logistics is high, crowdsourcing logistics has a significant price advantage. The more the number of optimal free deliverers, the better. On the contrary, the number of optimal free deliverers will be reduced.
2023 Vol. 20 (5): 747- [Abstract] ( 126 ) [HTML 1KB] [ PDF 2444KB] ( 242 )
759 Pricing Strategy of Traceable Agricultural Supply Chain Considering Altruistic Preferences under Government Subsidies
YAO Fengmin,JU Jiayang,LI Yue,DUAN Caiquan
Considering the two-level traceable agricultural supply chain composed of e-commerce platforms and suppliers, the pricing decision problem of the traceable agricultural supply chain is studied by constructing the pricing decision model of e-commerce platform without/with preferences. The influence of government subsidies, altruistic preference and consumer traceability on the performance of agricultural supply chain members and overall is discussed by using Stackelberg Game Theory. The results show that the altruistic preference of e-commerce platform is helpful to increase the traceability of agricultural supply chain and improve the overall performance; Consumers’ traceability preference could improve the retail price, but its influence on the profits of e-commerce platform is also related to the altruistic preference degree; The pricing strategy of e-commerce platform not only depends on its own altruistic preference, but also is affected by the government subsidies and consumers’ traceability preference; Compared with the supplier as the channel follower, the profits of dominant e-commerce platforms may not always be higher.
2023 Vol. 20 (5): 759- [Abstract] ( 241 ) [HTML 1KB] [ PDF 1257KB] ( 323 )
769 Research on the Capital Cost Effect of Regional Speculative Atmosphere
WANG Ping,DU Songhua
This study examines whether regional speculative climate affects local firms’ cost of capital and explores whether the effect changes over time, based on the data in China from 2008 to 2020. The conclusions are as follows: ①The regional speculative atmosphere is proved to increase company’s capital cost; ②Time-invariant part has a more positive bias effect on the capital cost; ③The speculative atmosphere makes management tend to invest more in R&D and more aggressive working capital financing strategies, which weakens investor confidence and results in the increase of capital cost; ④The Buddhist atmosphere and CEOs from other places will enhance the positive effect on the cost of capital, which the latter is caused by the cultural spread of a more speculative atmosphere in CEO hometown.
2023 Vol. 20 (5): 769- [Abstract] ( 155 ) [HTML 1KB] [ PDF 1265KB] ( 178 )
780 Research on the Influence of Large Shareholder Control on Enterprise Financialization
SHAO Zhihao,SHANG Tingting,CAI Guowei
Using the data of A-share listed companies in China from 2007 to 2019, this study examines the impact of large shareholder control on the financialization of enterprises. The research finds that: The increase of the shareholding ratio of large shareholder helps to inhibit the financialization of enterprises, which supports the supervision effect of large shareholder and the investment substitution motivation of financialization; At the same time, under the circumstances of low shareholding ratio of management, serious earnings management, low shareholding ratio of institutional investors and few following analysts, the impact of large shareholder control on financialization is more significant, indicating that large shareholder does restrict the enterprise financialization through supervision effect. Further research shows that the negative impact of the shareholding ratio of large shareholder on enterprise financialization is more obvious in enterprises with non-state-owned property rights, high operation risk and large financing constraints, as well as in the environment of high financial market returns, high financial investment risks and high economic policy uncertainty.
2023 Vol. 20 (5): 780- [Abstract] ( 192 ) [HTML 1KB] [ PDF 1259KB] ( 398 )
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