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Chinese Journal of Management
2023 Vol.20 Issue.10
Published 2023-10-01
1421
Research on Dual Strategy Coordination Mechanism of Diversification Strategy and CSR Strategy——Analysis of ZALL Yan Zhi’s Strategic Management Thought
DENG Xin Ming，TAN Yong
Based on the analysis of the external environment changes and internal management challenges faced by the local private enterprise, ZALL, at different growth stages, this study analyzes the formation process of Yan Zhi’s entrepreneurship to the strategic synergy of the company’s diversified strategy and CSR strategy during the continuous growth of ZALL and summarizes Yan Zhi’s unique strategic management thoughts. The results indicate that to achieve sustainable growth, ZALL has formed five types of diversification strategies and CSR strategies at different stages of development. The entrepreneurship has obtained core dynamic competitiveness for the sustainable growth of the enterprise through “buffering” diversification strategy selection. Moreover, under the role of “bridge”, CSR strategy can obtain unique competitive resources for the sustainable growth of enterprises and promote the sustainable growth of enterprises through “dual-strategy synergy”.
2023 Vol. 20 (10): 1421- [
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1433
The Construction Mechanisms and Evolution of Strategic Entrepreneurial Opportunities for Large State-Owned Enterprise in the Digital Era: An Exploratory Single Case Study
HE Jiandu，SUN Xinbo，ZHANG Hao
This study takes the practical process of building and promoting an “international first-class model mine” of Shandong Gold Group Co., Ltd. as the object of research, adopts an exploratory single case study method, and condenses the construction mechanisms and evolution of strategic entrepreneurial opportunities models in the digital era. The results show that based on the top-down, top-bottom interaction and bottom-up construction contexts, different construction bases are formed under the guidance of exploratory, practical and spin-off procedures to build ice-breaking, reinventing and spin-off strategic entrepreneurial opportunities. In addition, the acceptance of newness, the interplay between top, middle and employees, and the reform logic of large state-owned enterprises combine to drive the evolution of strategic entrepreneurial opportunities from icebreaker to reinvention, and then to spin-off opportunities.
2023 Vol. 20 (10): 1433- [
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1444
Chinese Management Wisdom in the Digital Intelligence Era——Review of the 15th “Management in China” Annual Conference
WANG Juling，WANG Lei
The 15th Annual Conference of “Management in China”, with the theme of “ Chinese Management Wisdom in the Era of Digital Intelligence”, aims to explore management theory and management practice issues in organizational management, the emergence of industrialists, ecological dividend acquisition, enterprise Digital transformation and other fields in the context of highly digital and intelligent management. This study summarizes and comments on the main viewpoints of this annual meeting, based on the discussion content of the conference theme report, conference paper, and on-site dialogue.
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218
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1448
Research on the Impact of Female Business Owners on OFDI in Family Firms
XIAO Xiao, LI Qing，DAN Xiaoning，CAI Dongning1
Based on social emotional wealth theory, this research explores the impact of female business owners on OFDI of family firms, suggesting that female business owners’ outstanding performance in OFDI is due to their full utilization of family and firm resources. Results of empirical analysis using panel data from family firms listed in Shanghai and Shenzhen stock exchanges from 2009 to 2019 shows that：the degree of OFDI is greater when the family firm’s owner is female. The positive relationship between female family business owners and firm OFDI is positively moderated by family financial resources, the proportion of directors who had overseas experience and the proportion of females directors.
2023 Vol. 20 (10): 1448- [
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1457
The Configuration of the Diversification Strategy of Chinese Enterprises
WU Xiaojie，GUO Yongshi，TAN Xiaoxia，WANG Xiuqiong，LAN Hailin
Based on the strategic tripod model and the strategic framework proposed, this paper combines institution-based view, industrial organization theory and resource-based view to construct an analytical framework of “institution-industry-resource capability” for Chinese firms’ diversification strategy choice. This paper identifies the antecedent configurations and their driving mechanisms of four types of strategic diversification choices: “local tyrant”“prowler”“pioneer” and “player”, through a qualitative comparative analysis of 1 095 samples. Research shows that: the driving mechanism of the “local tyrant” includes internal resource-driven and industry resource-driven; the driving mechanism of the “prowler” includes institution resource-driven and institution industry-driven; the driving mechanism of the “pioneer” includes industry environment-driven, internal resource-driven and industry resource-driven; and the driving mechanism of the “player” includes institution resource-driven, industry resource-driven and institution industry resource-driven. Moreover, this paper further identifies the core elements of different diversification strategy choices made by firms in the same context.
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1468
The Multi-Level Influence of Responsible Leadership on Employees’ Counterproductive Behavior and Turnover Intention
CHENG Xuelian，XUE Shan，CHEN Honghui，SHI Lihua
Based on social identity theory, this study builds a moderated mediation model to explore the mechanisms and boundary conditions of responsible leadership on employees’ counterproductive behaviors and turnover intentions. Using 2 time points survey data of 875 employees from 77 companies, the research results suggest that organizational identification mediates the relationship between responsible leadership and employees’ counterproductive behaviors and turnover intentions. Ethical climate negatively moderates the effects of responsible leadership on employees’ counterproductive behaviors and turnovers intention via organizational identification.
2023 Vol. 20 (10): 1468- [
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1477
Cross Level Influence Mechanism of Team Leadership Empowerment on Employee Creativity in the Background of Digital
XING Saipeng，ZHAO Chenhui，TANG Yipeng，CHEN Qinxian
Based on the I-P-O (Input-Process-Output) theoretical framework, this study collected valid paired questionnaires from 85 R&D teams and 641 employees under digital management, and explored the cross-level influence mechanism of empowering leadership behaviors on employees’ creativity by using Bootstrapping and Monte Carlo simulation test methods. The results show that empowering leadership behaviors can improve employee creativity by increasing team interaction effectiveness, and team type moderates the relationship between the empowering leadership behaviors and team interaction effectiveness. Specifically, compared with the project teams, when the team type is a departmental team, not only the direct effect between empowering leadership behaviors and team interaction effectiveness is stronger, but also the indirect effect of empowering leadership behaviors on the employee creativity through improving team interaction effectiveness is stronger.
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1486
Research on the Returnees’ “Fall-Rise Pattern” Process of Spin-off Entrepreneurship
LI Zhigang，YANG Chen，LIU Jin，YAN Fangchao
This study takes four returnees as the research objects, and adopts the grounded theory research method to explore the process of spin-off entrepreneurial activities after returning to China. The results of main categories are as follows： overseas experience settles the foundation for entrepreneurship, environmental comparison strengthens entrepreneurial willingness, situational differences slow down entrepreneurial progress, reconstructing overseas and domestic networks, identity transformation improves entrepreneurial ability, entrepreneurial efficiency matches entrepreneurial opportunities, spin-off entrepreneurship drives technological transformation, and empowerment from maternal organizations. Based on the eight main categories, the core category of “returnees’ ‘fall-rise pattern’ process of spin-off entrepreneurship” is condensed, and the spin-off entrepreneurial process model of returnees is then constructed. Moreover, the process is divided into three stages including cognition after returning, maternal acculturation, and spin-off entrepreneurship and systematically explains the behavioral decisions of returnees in entrepreneurship process.
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1498
Construction Mechanism of Entrepreneurial Psychological Capital and Its Application in Entrepreneurial Practice
LIU Xinyi，CAO Zekang，LI Peng
Using qualitative analysis methods and following the story line of “initial psychological capital, entrepreneurial psychological capital, entrepreneurial practice”, the whole process transformation mechanism of psychological capital stock and entrepreneurial psychological capital is deduced through semi-structured interviews. It is found that entrepreneurial psychological capital builds on psychological capital and is influenced by both unconscious external factors, feedback, and conscious cultivation of entrepreneurs as they grow. Entrepreneurial driving factors guide entrepreneurs to generate self-cognition, self-awakening, self-pursuit and self-planning, coupled with the promotion of entrepreneurial opportunities and entrepreneurial practices and other external factors, to promote the transformation of entrepreneurial psychological capital. Finally, the correction and reinforcement of entrepreneurial psychological capital can enhance the ability of entrepreneurs to use it.
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1506
Research on the Influence of Artificial Intelligence on Economic Growth Path from the Perspective of Technology Deconstruction
LIU Zhengchi，CHEN Wenwu，WEI Sichao
On the basis of deconstructing artificial intelligence into data, algorithms and computing power, this study constructs a dynamic general equilibrium model including artificial intelligence service sector, artificial intelligence application sector and household sector, to explore the impact mechanism of artificial intelligence on economic growth. Three major results are derived from the model. First, there exists an unbalanced steady-state growth path in the long run, and the endogenous growth comes from the substitution of the data factor to the capital factor through the application of artificial intelligence. Second, the accumulation of data, algorithms and computing power and the increase in the production efficiency impose positive effects on the output growth rate. Third, the unique “self-learning effect” of artificial intelligence can reverse the diminishing trend of output growth rate into an increasing trend in the short run, and can increase the steady-state level of output growth rate in the long run.
2023 Vol. 20 (10): 1506- [
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1515
The Influence of Enterprise Resources on the Product Value of Online Consultation APP under Configuration Effect
LIU Xuan，FENG Chengcheng，LI Jia
Using the 47 online medical enterprises as samples, the fuzzy set qualitative comparative analysis(fsQCA) method was used to analyze financial resources, organizational resources, technical resources, innovation resources, reputation resources and human resources to reveal the mechanism by which the grouping of corporate resource categories affects the value of online consultation app products. The results show that: ①any single resource is not a necessary condition for forming high or low product value of online consultation APP. ②There is only one configuration path that generates high average daily downloads of online consultation APP, that is, the configuration of all six resources. There are two configuration paths to generate high scores of online consultation APP, which are the configuration of sufficient financial resources and technical resources and the configuration of sufficient financial, organizational, innovation and reputation resources. ③The lack of financial, reputation, organizational and innovation resources will lead to the low average daily downloads of the product. The lack of financial, technical, innovation and organizational resources will lead to the low scores of the product.
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1525
Pricing Decisions for Supply Chain Considering Overconfidence of Retailers with Channel Competition
WANG Wenjie，LIU Yazhou
This study examines the distinctions in a dual-channel supply chain among retailers: those with overconfidence in both retailers, those with overconfidence only in physical retailers, those with overconfidence only in e-retailers, and those without overconfidence in respective channel. It analyzes how the intensity of channel competition and retailer overconfidence impact pricing decisions and profit gains in the supply chain. The results indicate that retailer overconfidence generally raises product retail prices, while increased channel competition promotes price reduction. Retailer overconfidence consistently benefits competitors’ profits, except when the retailer’s level of overconfidence is lower than that of competitors, which gives it a profit advantage. Additionally, the intensity of channel competition and the level of retailer overconfidence are crucial factors influencing brand manufacturers’ profits.
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1536
The Platform-Based Operations and Coordination with Reference Price Effect Under the Cap-and-Trade Regulation
XU Xiaoping，WU Jie，HE Ping
Considering consumer purchasing decisions are influenced by the reference price effect. Two scenarios are considered, where one scenario is that the manufacturer directly sells the products in the offline channel and the other is that the manufacturer sells the products through a retailer in the offline channel. And the platform can operate with the marketplace mode or reselling mode. The optimal decisions and the supply chain coordination of each scenario under the cap-and-trade regulation are analyzed. The results show that: ① in the former scenario, the increase of the positive reference price effect and the commission rate can improve the optimal production quantities selling through the online platform and the total carbon emissions with the marketplace mode if the cross-channel effect is high; while in the latter scenario, the conclusion is the opposite. ② In the two scenarios, marketplace mode cannot achieve the coordination of the manufacturer and platform (retailer), while reselling mode can do under some cases. Besides, cap-and-trade regulation induces supply chain coordination in the former scenario while blocks the coordination in the latter scenario.
2023 Vol. 20 (10): 1536- [
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1546
Executive Pay-for-Collection Risk Sensitivity
PAN Hongbo，ZHOU Ying，SUN Jiaxin
Based on the optimal compensation contract theory, this study takes China’s A-share listed companies from 2007 to 2020 as a sample to examine the executive pay-for-collection risk sensitivity. The results show that the executive pay-for-collection risk sensitivity exists in China’s listed companies, that is, the lower the risk of accounts receivable collection, the higher the compensation of executives. Further research shows that the executive pay-for-collection risk sensitivity is stronger in the case of lower risk tolerance of corporate controlling shareholders (higher operational risk, private enterprises) and lower controllability of accounts receivable collection risk (lower customer concentration, high-tech enterprises, non-regulated industries, and region with a lower level of trust). The study of economic consequences shows that the stronger executive pay-for-collection risk sensitivity, the lower the risk of stock price collapse and bankruptcy, and the higher the value of the enterprise in the following year.
2023 Vol. 20 (10): 1546- [
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1555
Research on the Influence of Managerial Myopia on Firm’s Total Factor Productivity
ZHANG Yong，ZHANG Chunlei
With the text analysis methods, this study examines the impact of managerial myopia on firm’s TFP from the perspective of reflecting the individual’s cognition of time. The results show that the higher the level of managerial myopia, the lower the firm’s TFP. The mechanism test results show that the path of the impact includes reducing R&D investment, reducing capital expenditure and increasing corporate financialization. In further heterogeneity analysis, this study finds that for firms with higher managerial power, more male managers, or higher degree of collusion between management and large shareholders, managerial myopia has a stronger inhibitory effect on the firm’s TFP.
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1565
The Evolutionary Course and Research Prospects of Performance Feedback Theory
YANG Zhi， XIAO Jing
Based on 325 articles of performance feedback theory published from 1963 to 2022, this study applies bibliometrics and content analysis to identify the development stages of performance feedback theory, constructs a “Focus-Theory-Context-Method-Response, FTCMR) knowledge framework, and then compares the research content of different stages based on this framework. The findings show that before 1998, it was the establishment stage of the performance feedback theory, and then it entered the application stage. Since 2008, it has been in the integration stage. In addition, the research focus at different stages differs but considers continuity, intersection, and cutting-edge. Currently, the research pays more attention to the micro-foundations, the Asian context, the theoretical summary, etc. Finally, from the five aspects of the knowledge framework, this study systematically discusses the research gaps and proposes future directions.
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