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Chinese Journal of Management
2024 Vol.21 Issue.12
Published 2024-12-01
1739
A Study of ESG Customer Identification Mechanism in Large Public Service Enterprises——Based on the Comparative Analysis of Two Cases of Beijing-Shanghai High-Speed Railway and Japan Shinkansen
XU Hui，HE Huiyuan，LI Yang，LIU Yihui
From the perspective of cognitive isomorphism, this study uses a comparative analysis of two cases to explore the mechanisms of ESG cognition establishment and enterprise-customer cognition isomorphism in large public service enterprises. It focuses on the ESG customer identity practices of the representative enterprises of the Beijing-Shanghai High Speed Railway Co.,Ltd. and Japan Shinkansen representative enterprises (East Japan Railway Company) in different stages of ESG life cycle development. The results show that the formation process of ESG customer identity in large public service enterprises presents a “double cycle” evolution path, in which the “outer cycle” of enterprise-customer ESG cognition drives the establishment of the “inner cycle” of enterprise ESG cognition. Based on the different stages of ESG life cycle, there are two approaches: observation cognition establishment and bridging enterprise-customer cognition isomorphism in ESG growth stage and trial-and-error cognition establishment and loosely coupled enterprise-customer ESG cognition isomorphism in ESG maturity stage, showing a circular evolution trajectory from internal to external diffusion. Based on the heterogeneity of radiation advantages of customer groups, public service enterprises in different ESG life cycle stages show differentiation in the isomorphic path of customer ESG cognition. Enterprises in the growth stage of ESG directly express their ESG cognition concepts by using the radiation influence of regions along the routes, while enterprises in the mature stage use the radiation influence of business expansion to subtly influence the ESG cognition systems of customers. The findings of this study provide theoretical support and practical enlightenment for public service enterprises in different evolution stages to make full use of the advantages of corporate radiation influence to establish ESG customer identity system.
2024 Vol. 21 (12): 1739- [
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1751
Incubator Empowerment Mechanism of Resolving the Cost Pressures on SMEs’Use of Innovation Policies：A Case Study from the Perspective of Institutional Transaction Costs
TIAN Zhilong，RAO Wenlan，YANG Ling，LI Lianxiang
rom the perspective of institutional transaction costs, this study takes an incubator named Eastern Valley U in Yichang, Hubei Province as a case study to analyze the cost pressure faced by SMEs in the process of using government innovation policies, and reveals the enabling mechanism of incubators to help SMEs resolve the cost pressure. This study finds that: innovation policies impose institutional requirements on SMEs, including policy standardization requirements and policy procedural requirements. The former is derived from the policy appeal of government innovation policies, while the latter is derived from the requirements of policy implementation process and measures to prevent opportunism. SMEs attempting to use government innovation policies need to make standardization input and procedural input to meet institutional requirements, thereby incurring standardization institutional transaction costs and procedural institutional transaction costs. The incubator’s “information-resource-business” enabling mechanism assists incubated enterprises to relieve institutional transaction cost pressure from three aspects: sharing cost pressure, improving investment efficiency and improving the success rate of application, so as to enhance the willingness of incubated enterprises to use innovation policies to carry out innovation behaviors.
2024 Vol. 21 (12): 1751- [
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1763
A Research on Constructivist Grounded Theory Fiting the Emergence of Chinese-Style Strategic Theory
FENG Hailong，FENG Shitong，HE Le，LIN Haifen
To tell the story of Chinese management well, take root in China’s native strategic practice, and create the original Chinese-style strategic theory, it is urgent to have more qualitative research methods with the function of theoretical construction. As a non-mainstream but avant-garde qualitative research method, constructivist grounded theory is rooted in the hermeneutic tradition, emphasizing the joint participation of researchers, the research subject and its stakeholders, integrating ontological nominalism and epistemological anti-positivism, and has great theoretical emergence and theoretical innovation function, which can better fit the study on the highly contextualized Chinese-style strategy. Through the analysis of theoretical basis of Chinese-style strategic theory Sinicization and practice localization, as well as keeping an eye on two main qualitative research methods of Chinese-style strategic theory construction, it forms dual structure on Chinese-style strategy, explains the connotation of the constructivist grounded theory, and constructs the pattern on sequence coding and code sequential transformation iterations. Then, based on the operationalization of initial decoding, focused decoding, axis decoding and theoretical decoding, a paradigm of hierarchical abstraction on research discipline-research direction-research proposition-theoretical framework is established.
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1774
Research on the Effect of National Intellectual Property Advantage Enterprise Identification on Enterprise Market Value
ZHENG Zhiqiang，HE Jiali
Based on the data of Chinese A-share listed companies, this study uses the multi-time point difference in difference method to test the effect of national intellectual property advantage enterprises identification on the enterprises market value. It shows that national intellectual property advantage enterprises identification significantly improves the enterprises market value, which is mainly achieved by increasing equity financing, promoting technological innovation and reducing the institutional transaction costs. According to the sub-sample regression, the value enhancement effect of national intellectual property advantage enterprises identification is more obvious in non-state-owned enterprises, growing enterprises and areas with higher intellectual property protection level. Further analysis shows that the national intellectual property advantage enterprises identification has significant industrial demonstration effect. In addition, compared with the national intellectual property demonstration city construction, national intellectual property advantage enterprises identification has a more significant effect on the enterprises market value, and the two policies have produced the synergistic effect.
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1783
The Impact of Digital Investments on Information on Firms’ Fundamental
DONG Zhu，JIN Xiaotong
Based on the data of listed companies on the Shanghai and Shenzhen A-share market from 2009 to 2021, this study explores the impact of digital investment on the information content and efficiency of corporate fundamentals. The findings finds that digital investment behavior of listed companies has increased the content and efficiency of fundamental value information in stock prices, thereby optimizing the informativeness of stock prices. Heterogeneity tests indicate that the positive effects of digital investment are more pronounced in samples with comprehensive external digital infrastructure and well-developed internal information construction. Mechanism tests support two pathways of action: the “production optimization mechanism” and “information optimization mechanism”. Considering the influence of external behavioral factors, the study also confirms the existence of “boost effects “and “supplementary effects” in the process of digital investment. Further research reveals that there is a non-linear U-shaped relationship between corporate digital strategic transformation and fundamental value information, indicating that as the degree of digitalization deepens, the ability of corporate stock prices to reflect fundamental value information will ultimately be enhanced.
2024 Vol. 21 (12): 1783- [
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1793
Research on the Double-Edged Sword Effect of Digital Leadership on Employees’ Workplace Behaviors
LI Dan，HAN Yi，JIA Qiongqiong
Drawing on the job demands-resources model, this study conducted a multi-ware survey of 436 employees to explore the “double-edged sword” effect between digital leadership and employees’ workplace behaviors. The results of the study show a significant positive correlation between digital leadership and employees’ passive withdrawal behavior as well as proactive innovation behavior. Information technology overload and perceived technology usefulness respectively mediate the relationship between digital leadership and employees’ passive withdrawal behavior as well as proactive innovation behavior. Employee information literacy not only negatively moderates the direct effect of digital leadership on information technology overload but also negatively moderates the indirect effect of digital leadership through information technology overload on employees’ passive withdrawal behavior.
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1802
A Cross-Level Study of the Effects of Shared Leadership on Interpersonal Behavior
JIE Yuan, ZHENG Xiaoming
Based on the theory of conservation of resources, the research explored the impact of shared leadership on cross-level interpersonal behavior of individual team members through a three-stage questionnaire survey (485 participants in total).The results found that: ① team shared leadership can promote the naturally emotional expression of individual members, which subsequently encourage more interpersonal helping behavior and less interpersonal counterproductivity behavior. ② Team uncertainty can negatively regulate the relationship between shared leadership and team members’naturally emotional expression. ③ Team uncertainty can regulate the mediating effect of team members’naturally emotional expression between the shared leadership and interpersonal helping behavior. ④ When the level of team uncertainty is higher, the indirect effect of shared leadership on interpersonal helping behavior through team members’naturally emotional expression is weaker, and vice versa, the stronger.
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1812
Research on the Impact of Fintech on Green Innovation in Manufacturing Enterprises
XIONG Zhiqiao，LIU Jianjiang
Based on the data from listed manufacturing companies in China, this study uses the pilot policy of integrating technology and finance as a quasi-natural experiment and employs the difference-in-differences method to systematically investigate the impact of financial technology on corporate green innovation. The research has found that financial technology can promote green innovation in enterprises through information matching optimization effect, financing constraint relief effect, and human capital agglomeration effect, and this effect has biased characteristics. In this process, command-and-control environmental regulations have a negative moderating effect, market-incentive environmental regulations do not play a moderating role, and public participation environmental regulations have a positive moderating effect. On the basis of promoting green innovation in enterprises through financial technology, it can further improve the environmental performance of enterprises, but the improvement effect on the financial performance of enterprises has a certain lag.
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1820
Impact Research of ESG Ratings Uncertainty on Corporate Green Innovation
LI Qing，CHEN Lin
Taking A-share listed firms in Shanghai and Shenzhen from 2011 to 2021 as samples, this research examines the impact and mechanism of ESG ratings uncertainty on green innovation. The results show that ESG ratings uncertainty leads to a symbolic increase in green innovation quantity and a substantial decline in green innovation quality, thus generating a green innovation “bubble”. The mechanism test shows that ESG ratings uncertainty increases green innovation quantity through the “market pressure” channel of improving analyst attention, investor attention, and media attention, while inhibits green innovation quality through the “financing constraints” channel of increased financing constraints, equity financing cost, and debt financing cost. Heterogeneity analysis finds that considering internal information environment, in the firms with low accounting comparability and poor investor relationship management, or in the enterprises with weak local environmental regulation and low public environmental concern from the aspect of external environmental regulation, ESG ratings uncertainty has a greater effect on improving green innovation quantity and inhibiting green innovation quality.
2024 Vol. 21 (12): 1820- [
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1830
Research on the Composite Dual Innovation Capability Model for Intelligent Manufacturing Enterprises
WU Shan，ZHANG Jinlong，GAO Peiran，HU Zhiming，FAN Bingchan
Based on the dual innovation theory, this paper analyzes the composition of the innovation ability of intelligent manufacturing enterprises, adds two types of dual elements, namely “dual drive” and “manufacturing and management”, and puts forward the “compound dual innovation ability model” for intelligent manufacturing enterprises. It reveals the process in which intelligent manufacturing enterprises continuously improve their manufacturing and management capabilities under the combined action of dual driven and dual innovation, enabling the products produced and services provided to meet customer needs and continuously adapt to market changes. Finally, through empirical analysis, the correctness of this model is verified, and the boundary and application scenarios of the dual innovation theory are broadened.
2024 Vol. 21 (12): 1830- [
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1838
Research on the Grandchildren’s Reverse Intergenerational Influence on the Grandparents’ Mobile Internet Product Usage
FEI Xianzheng，SUN Jie，FU Guoqun，LI Yaoyue
Based on the dual perspectives of developmental psychology and Chinese culture, this study explored the grandchildren’s reverse intergenerational influence on their grandparents’ mobile internet product usage by hermeneutic approach. The results show that: firstly, three mechanisms promote the grandchildren’s reverse intergenerational influence: self-extension, self-development, and emotional satisfaction. Secondly, all three mechanisms coexist and take a part in the reverse intergenerational influence process no matter which period the grandchild is in (preschool age, middle childhood, or adolescence). Finally, due to the differences in physical and psychological development between grandchildren and grandparents at these three stages, the three mechanisms have varying degrees of prominence, with distinct operational pathways and triggering factors at each stage.
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1849
Research on the Influence Mechanisms and Boundary Conditions of Virtual Digital Person on Viewers’ Engagement in Live-Streaming
YUAN Haixia，ZHANG Yilin，BAI Lin，XU Haiqin
Based on the uncanny valley theory and the implicit personality theory, this study explores the interaction between the image of the virtual digital human streamer and the driving type on the live-streaming participation behavior through three situational experiments. The findings reveal that: the interaction between the image and driving type of virtual digital streamer has a significant impact on live-streaming engagement; realistic threat and identity threat play a mediating role in the influence of driving type and image on engagement in live-streaming; implicit personality not only moderates the interaction between driving type and image on engagement, but also moderates the indirect effect of the interaction between driving type and image on some engagement activities in live-streaming through the identity threat and realistic threat.
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1860
Study on the Impact of Government-Driven Enterprise Digital Transformation on Cost Stickiness
YANG Jie，SHI Jin，WANG Xingguang
Based on the financial data of China’s A-share manufacturing listed enterprises from 2012 to 2021, the implementation of the “integration of industrialization and informatization” standard implementation pilot policy is taken as a quasi-natural experiment for the government to promote the digital transformation of enterprises, and the impact of the “integration of industrialization and informatization” on the cost stickiness is explored. The results show that the “integration of industrialization and informatization” can restrain the cost stickiness, with management agency cost, optimistic expectation cost and labor adjustment cost playing mediating roles. Further analysis shows that the “integration of industrialization and informatization” helps enterprises overcome the obstacles of “can’t turn” and “dare not turn” in the process of autonomous transformation. In addition, reducing the government’s failure in implementing the “integration of industrialization and informatization” can improve the effectiveness of policies. The economic consequences analysis shows that the inhibition effect of the “integration of industrialization and informatization” on cost stickiness can bring about the improvement of enterprise value.
2024 Vol. 21 (12): 1860- [
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1870
Research on the Impact of Common Institutional Ownership on the Dynamic Adjustment of Enterprise Capital Structure
LIU Qian，QIU Shanyun，BAI Jun
This study examines the impact of common institutional ownership on corporate capital structure adjustment using A-share listed companies from 2007 to 2020. The empirical test finds that common institutional ownership reduces the speed of capital structure adjustment and mainly inhibits the speed of upward capital structure adjustment. Moreover, this effect is found to be more pronounced when the industry is more concentrated and when common ownership is more powerful. The mechanism test shows that common institutional ownership slows down the upward adjustment of capital structure mainly by reducing the level of corporate risk-taking and weakening the ability to motivate management through compensation. The heterogeneity analysis shows that the above inhibiting effect is more pronounced for SOEs and transactional institutional investors. The path test shows that common institutional ownership reduces the speed of upward adjustment of the firm’s capital structure by restricting the increase in interest-bearing debt.
2024 Vol. 21 (12): 1870- [
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1881
New Perspectives on Corporate Crisis Management: A Bibliometric Study and Outlook
ZENG Guowei，ZHANG Yun，SUN Yao，ZHOU Xuan
As China’s economic growth enters a new phase of slower expansion, domestic enterprises face increasing downward economic pressure, heightening the risk of crisis. Corporations must manage crises scientifically to prevent their onset or mitigate negative impacts. Against this backdrop, this study employs bibliometric methods to systematically review the theoretical development of corporate crisis management, identifying five main themes and constructing corresponding knowledge frameworks. Firstly, the study traces the theoretical evolution of corporate crisis management. Secondly, using bibliometric techniques such as keyword co-occurrence, burst analysis, and clustering based on relevant English and Chinese research over the past 30 years, five key research themes are summarized: crisis manager decision-making, corporate crisis early warning systems, crisis information management, corporate financial performance, and social responsibility. Finally, a knowledge framework is constructed for each theme, providing an outlook for future research.
2024 Vol. 21 (12): 1881- [
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