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    Economic and Financial Management
    The Effect of Trade Policies on Industry-level Wage Changes in China from Tariffs and Exchange Rates Perspectives
    Pan Wenqing, Chen Jiaying
    2021, 33 (9):  3-15. 
    Abstract ( 323 )   PDF (1342KB) ( 213 )  
    This paper mainly examines the effects of changes in China's tariffs after the accession to the World Trade Organization at the end of 2001 and in exchange rates after the reform of the RMB exchange rate in 2006 on industry-level wages. Based on the FKV model of Fujita et al. and by introducing trade cost and industry aggregation factors, this paper empirically analyzes the impact of trade policy on China's industry-level wages distribution by adopting panel data of 19 industries in China's 31 provinces from 2003 to 2016. The study finds that the reduction in tariffs after China's accession to the WTO increases China's industry-level wages and the appreciation of the RMB real exchange rate after the reform of the exchange rate pricing mechanism decreases China's industry-level wages. The interactions of tariffs and exchange rates with the level of industrial agglomeration do not have a significant impact on the industry-level wages, but the effects of changes in China's tariffs and exchange rates on the industry-level wages are related to two types of industrial characteristics, i.e., monopoly and high-technology, and are related to three types of regional characteristics, i.e., the level of regional education, infrastructure construction and trade openness.
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    The Influence of Economic and Technological Development Zone on the Adjustment of Industrial Structure
    Dong Jichang, Hou Jieqiong, Zhang Qi
    2021, 33 (9):  16-24. 
    Abstract ( 300 )   PDF (1548KB) ( 173 )  
    Industrial structure adjustment is the only way for rapid development of emerging economies. One of the important measures is the establishment of economic and technological development zones. This paper takes 12 eastern cities established or upgraded as China National Economic and Technological Development Zone in 2010 as research objects, and 37 eastern cities that have not established economic and technological development zones as control groups. Using the difference-in-difference model, we find that the construction of the national economic and technological development zone plays a significant positive role in the adjustment of the industrial structure of the city. In order to solve the endogenous problem, a propensity score matching method is adopted to reselect the experimental group and the control group and then a regression analysis is made. It is found that the above conclusions are still tenable, proving that after the economy entered the new normal, the economic technology development zone still play a leading role in the upgrading and optimizing of industrial structure.
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    The Study for Characteristics of Commodity (Rebar) Futures Price Trend Based on Stochastic Search Approach
    George Xianzhi Yuan, Di Lan, Song Guandu, Zhou Yunpeng, Liu Haiyang, Guoqi Qian, Yan Chengxing, Zeng Tu
    2021, 33 (9):  25-37. 
    Abstract ( 282 )   PDF (1369KB) ( 104 )  
    The goal of this paper is to develop a way to show how we extract related characteristic factors (features) related to the price trend of commodity futures for screw steel materials by applying Gibbs sampling algorithm under the framework of Markov chain Monte Carlo (MCMC), then classify features related to the price trend of commodity futures into different levels by using the concept of the odds ratio associated with logistic regression model. Our empirical analysis results show that the feature extraction method discussed in this paper can effectively describe the trend of rebar futures price, which provides a new analysis method for bulk futures trading business, risk hedging and related risk management in the practice of financial industry. In addition, the method discussed to extract highly related effective characteristic factors that affect the change of price trend is also different from those in existing literature for the analysis of trend of price change.
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    Spatial-temporal Heterogeneity of Real Estate Market Health in Urban Agglomeration in Middle Reaches of Yangtze River
    Wu Wei, Chen Min, Chen Ding, Huang Junxia, Zhong Shuxuan
    2021, 33 (9):  38-47. 
    Abstract ( 190 )   PDF (1437KB) ( 96 )  
    As a pillar industry in the entire national economic system, real estate bears heavily on the entire national economic growth and social stability. Thus, it is particularly necessary to accurately study and judge the characteristics of real estate market development. This paper constructs an evaluation system from four aspects:economic coordination, supply and demand balance, moderate investment and land control, evaluates the health of the real estate market in the middle reaches of the Yangtze River urban agglomeration from 2010 to 2018, and explores the spatial-temporal heterogeneity characteristics of the health of the real estate market. The results show that:1) In terms of time, the health of the real estate market of cities in the middle reaches of the Yangtze River tends to be better in the fluctuation period, as evidenced by coordinated conomic development, balanced supply and demand, moderate investment, decreasing land control in the fluctuation period and positive development of the real estate market in sub-city circles. 2) In terms of space, there are significant differences in the spatial evolution of the health of the real estate market in the city clusters in the middle reaches of the Yangtze River, showing a strong "core-periphery" structure with Wuhan, Changsha and Nanchang as the center. Wuhan urban circle has become the worst-hit area for the unhealthy development of the real estate market. 3) health degree of the real estate market of cities in the middle reach of Yangtze river can be divided into five types:coordinated development (type I), economic deviation (type II), imbalanced supply and demand (class III), excessive investment (class IV) and land dependence (V). The five types have a weight of 38.7%, 3.3%, 9.6%, 22.5% and 25.9% respectively by the end of the study, showing that the real estate investment is excessive, and financial dependance on land is obvious. Therefore, it is important to adhere to the policy of "housing residence instead of vicious speculation" and take control measures commensurate with specific cities to promote the steady and healthy development of the real estate market.
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    Research on Channel Conflict Mechanism and Countermeasures of Bancassurance
    Zhang Weijin, Hou Zemin, Chen Anping, Wang Shumei
    2021, 33 (9):  48-57. 
    Abstract ( 273 )   PDF (1365KB) ( 292 )  
    Based on the theory of vertical relationship, the relationship between bank and insurance is modeled as a vertical service transaction relationship. By constructing the commission decision-making model of bancassurance service, the essence and mechanism of bancassurance conflict and its impact on market premium are discussed. It is found that insurance companies are keen to increase commission in order to obtain bank channels, which leads to the prisoner's dilemma in commission decision-making. The prisoner's dilemma of commission decision is the essential reason for bancassurance conflict:on the one hand, banks do not have incentives to cooperate with insurance companies; on the other hand, small and medium-sized insurance companies are unable to obtain high-quality banking channels, thus being excluded from the insurance market. However, judging from the sales price (premium) of insurance products, the prisoner's dilemma of commission decision will certainly lead to the increase of premium, which may reduce the premium and improve the welfare of insurance buyers under certain conditions. The conclusion of this paper is that the core of bancassurance supervision policy is to break the prisoner's dilemma of commission decision-making of bancassurance and promote the decision-making of insurance companies from individual rationality to collective rationality.
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    Carbon Emissions Embodied in Added-value Chains in China
    Liu Hongguang, Zhang Zimeng, Guo Jie
    2021, 33 (9):  58-64. 
    Abstract ( 183 )   PDF (1310KB) ( 136 )  
    Based on the Multi-Regional Input-Output model (MRIO), this paper accounts for value-based emissions (VBEs) and carbon embodied in the added-value chain using the distribution coefficient of MRIO. Taking China as an example, VBEs as well as carbon emissions embodied in added-value chains at the sub-national regional level is analyzed based on China MRIO tables for 2007 and 2012. The conclusion shows, with the closer economic linkages between sub-national regions inner China, carbon emissions embodied in regional added-value chains showed expansion in 2007-2012. This shows that regional inequities between China's economic growth and carbon emissions are increasing. Although China's regional economic differences have narrowed, the economic development of backward regions is driven by the emission of more carbon dioxide. This is not conducive to the realization of the overall national carbon emission reduction target.
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    Study on the Regional Spillover Effect of Core City's Real Estate Policies——Based on Spatial and Temporal Analysis Model of 11 Urban Agglomerations
    Li Xiangfei, Feng Xinxin, Zhang Lu, Shen Shuli
    2021, 33 (9):  65-76. 
    Abstract ( 202 )   PDF (5326KB) ( 242 )  
    The spatio-temporal analysis model and event analysis model are integrated and used to simulate the local spatio-temporal spillover effect of important real estate policies proposed by the core cities in each urban agglomeration. A sample of 156 Chinese cities in 11 major urban agglomerations is selected in this study, and 10 core cities are selected as the regional diffusion experiments for urban real estate policy impact. The results indicate that:The core cities of 11 agglomerations all have different degrees of real estate policy spillover effects. The urban agglomerations of Harbin-Changchun-Central & Southern Liaoning, the West Coast, the Pearl River Delta, the Middle Reach of Yangtze River and the Yangtze River Delta have obvious regional diffusion effects from the core city's real estate policies, of which purchase quota and loan quota policies have the widest influence. However, the urban agglomerations of the Beijing-Tianjin-Hebei, the Shandong Peninsula, the Guanzhong Plain, the Chengdu-Chongqing agglomerations show a relatively weak spillover effect from the policies, of which the market regulation and tax policies a relatively strong spillover effect, meanwhile they are strongly affected by the administrative regulation policies released by Beijing city.
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    Technology and Innovation Management
    Venture Capital and Firm Technological Innovation: The Moderating Role of Product Market Competition
    Song Jing, Hu Guyan, He Qi
    2021, 33 (9):  77-88. 
    Abstract ( 316 )   PDF (1296KB) ( 217 )  
    Taking the theoretical perspectives of agency theory and information asymmetry, this study examines the impact of venture capital (including the presence and degree of venture capital participation) on firm technological innovation (including innovation input and output). The moderating role that product market competition plays in the venture capital-technological innovation link is further investigated as it acts as an important external governing and competition mechanism. Using the mixed cross-sectional data of China's GEM listed firms from 2009 to 2015, our empirical analysis reveals that compared with firms that do not have venture capital participation, both innovation input and output are relatively higher for firms with the presence of venture capital participation. Moreover, the degree of venture capital participation is positively related to innovation input and output. Additionally, this study finds that product market competition enhances the positive effects of venture capital on firm technological innovation.
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    Evolution and Impact of International Cooperation Networks: A Comparison between CAS and MPG
    Wang Lingli, Pei Ruimin, Yang Mei, Wang Jianhua, Li Hong
    2021, 33 (9):  89-96. 
    Abstract ( 172 )   PDF (2790KB) ( 99 )  
    Using the method of scietometric and social network analysis, and taking the field of cell biology as an example, this paper selects the scientific research papers published by Chinese Academy of Sciences (CAS) and German Max Planck Institute (MPG) as sample data, and compares the structure, characteristics and development trend of international network of science and technology cooperation of CAS and MPG in the field of cell biology. Results show that CAS shows a faster growth trend in the field of cell biology. In terms of the range of international science and technology cooperation, the range of MPG's cooperation with other countries is wider than that of CAS. CAS is superior to MPG in terms of the closeness of the cooperation. The results of regression analysis show that there is a positive correlation between the intensity of international research collaboration and the research performance of researchers. The above conclusions have the implications for the international science and technology collaboration policy making and pracitices.
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    The Impact of Learning from Failures on Low Cost Innovation of the Declining Enterprises: A Moderated Mediation Model
    Tang Chaoyong, Lin Lin, Cai Ruilin
    2021, 33 (9):  97-109. 
    Abstract ( 184 )   PDF (1350KB) ( 151 )  
    The study of the relationship between learning from failures and low cost innovation of the declining enterprises has long been neglected. To construct a moderated mediation model, and discuss the impact of learning from failures on low cost innovation of the declining enterprises,and analyze the mediation effect and the moderation effcet between learning from failures and low cost innovation of the declining enterprises. The results show that there is a positive correlation between learning from failures and low cost innovation of the declining enterprises, there is a positive correlation between learning from failures and resources bricolage, there is a positive correlation between resources bricolage and low cost innovation of the declining enterprises, and resources bricolage plays a mediating role between learning from failures and low cost innovation of the declining enterprises, and cognitive style (creative and adaptive type) plays a moderating role between resources bricolage and low cost innovation of the declining enterprises, creative cognitive style positively moderates the mediating role of resources bricolage, and the hypothesis that adaptive cognitive style negatively moderates the mediating role of resources bricolage has not been tested.
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    The Path Selection of Scientific Research Project High Performance: Team Diversity or Behavior Integration?——An Empirical Study on NSFC General Project
    Zhang Lei, Yan Bo, Liu Jia
    2021, 33 (9):  110-118. 
    Abstract ( 221 )   PDF (1248KB) ( 93 )  
    Forming a diversified team is a human resource strategy that aims to improve scientific research project performance through diversified team structure and productive interaction among team members, but how a diversified team and members' interactive behaviors promote project performance remains unclear. Aiming at the problem, the paper analyses the relationship of team diversity, team faultiness, behavior integration and project performance by selecting of NSFC's general projects as empirical research samples to validate the relationship. The results show that scientific research project diversity is not all helpful to project performance, even it does not have negative effect on team behavior integration and project performance, and scientific research project team faultiness has a U-curve relationship with team behavior integration. In addition, it is also found that team behavior integration is more helpful to project performance than team diversity.
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    Risk Analysis of Complex R&D Projects Based on Risk Propagation Network and K-shell Method
    Yang Qing, Zheng Lu, Zou Xingqi
    2021, 33 (9):  119-127. 
    Abstract ( 186 )   PDF (1918KB) ( 108 )  
    There are many interdependent risk factors in the R&D projects. How to evaluate accurately these risk factors is an import basis for performing project risk monitoring and control. Using the Design Structure Matrix (DSM) and the method of ranking nodes in complex networks, this paper presents an improved K-shell method to perform quantitative risk analysis which can reflect the influence of complex risk network. First, we use the "risk event-risk factor" Multi-Domain Matrix (MDM) to deduce the dependencies among the risk factors, and build a combined propagation probability model. Further, by integrating the node's out-degree and in-degree centrality, the risk value of risk factors and propagation probability, we build the K-shell model for ranking nodes in complex risk networks. Finally, an industrial example is provided to illustrate the proposed model.
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    E-business and Information Management
    Game and Simulation Analysis of the Governance Entity of Fake Housing with the Application of Blockchain Technology
    Liu Guihai, Cui Fulong, Mei Guoping, Xu Bin, Liu Zhangsheng
    2021, 33 (9):  128-142. 
    Abstract ( 247 )   PDF (1970KB) ( 149 )  
    The governance effect of false housing has become a hot topic of social concern, which is related to the construction of social integrity, the healthy development of the industry, the consolidation of government prestige and the protection of public rights and interests. There are many drawbacks in the existing housing management mechanism spontaneously formed by real estate agencies. The rise and application of blockchain technology provides a new choice for the reform of housing management mode. In this paper, the blockchain technology is introduced to build a government led housing source governance model, analyze the possible game strategy choice of the three main bodies:housing source information publisher, receiver and regulator, and carry out a simulation analysis. The results show that:(1) In the context of blockchain technology, the strength of the initial willingness of the three parties has a greater role in promoting the formation of the final stable equilibrium state, which helps to shorten the time for brokers to choose law-abiding strategies, and speed up the governance process of fake houses; (2) There is a direct relationship between the policy choice of brokers and the change of factors such as the cost of issuing information, the intensity of punishment, and the income. Among them, the cost of issuing information is the most significant one. If the cost is beyond the actual bearing capacity of the broker, the blockchain supervision will also fail; (3) The lower the supervision cost is, the more obvious the positive incentive effect and the negative supervision effect are, the more likely the government is to continue to make efforts in the supervision; (4) The additional compensation of the government supervision are utterly inadequate to make up for the loss of the house seekers and far less effective than reducing the cost of reporting on the strategic choice of house seekers. In view of the above conclusions, starting from the goal of fake housing management, the coordination mechanism, trust mechanism, supervision mechanism and incentive mechanism based on blockchain technology are constructed. Finally, the paper puts forward some policy suggestions, such as building a management mechanism of fake housing based on blockchain technology, actively guiding house-hunters to actively participate in the management of fake housing, strengthening the strict exercise of regulatory authority and promoting the development of brokerage institution system and culture construction.
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    Research on Pricing and Quality Decision of Information Goods Based on Free Strategy under Piracy and Network Externalities
    Zhu Binxin, Ma Zhiqiang, Leon Williams
    2021, 33 (9):  143-154. 
    Abstract ( 179 )   PDF (1671KB) ( 85 )  
    The impact of freemium version products launched by suppliers on pricing and quality decisions of information goods in the presence of piracy goods is studied. Conditions for the formation of three market models when the freemium version products are released and the freemium version products are not released are given. Then a comparison among the pricing of information products, the piracy rate, the change of supplier's profit, the piracy quality cost ratio and the influence of network externality on the changes is made before and after the implementation of the freemium version products, and the infuence of the freemium version products and network externality on the quality of information products and consumer surplus is further explored. The result shows that:when the network externality is low, the freemium strategy can improve the quality and cost conditions for piracy products to enter the market; in the piracy competition model, the release of the freemium version products will help to increase product pricing, increase supplier's profit, and reduce market piracy rate when piracy products' quality costs are high; as the cost of piracy increases, the "moral" consumer surplus and social welfare will rise first and then fall, and finally the trend will be stable, however, it is only when the network externality is large that the freemium version products will be introduced to improve the total consumer surplus; when there is piracy product in the market, the launched freemium version products will reduce the quality of information good, network externality will be helpful to increase product's quality; whether the conclusion is established when there is no piracy googs depends on the size of the network externality.
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    A Study on Key Farmers' Selection and Application Based on Trust in Agricultural Materials Products Marketing
    Li Gang, Zhang Duo, Wanyan Yaru, Liang Jiaojiao, Yang Xue
    2021, 33 (9):  155-168. 
    Abstract ( 214 )   PDF (3300KB) ( 98 )  
    Previous studies have discussed the trust degree calculation among network nodes and key nodes selection from the perspective of online social networks. Based on the six degrees of separation, social network and interpersonal trust theory, this paper builds two social networks of farmers by using 37 and 46 questionnaires from a typical rural village in the central and west part of China, and then proposes a method of calculating the trust degree of farmers in the social networks. The results show that the social network of agriculture marketing is simplified as a network figure with different levels. Then the key farmers in the simplified social network are identified by analyzing the degree of trust and the betweenness centrality. In addition, the case study indicates key farmers always play several roles in the village, such as the leader, retailer of agricultural materials, agricultural technicians and large farmers, who always have a good education and good relationships with others. So, an effective marketing strategy for agricultural materials is proposed based on the key farmers. This paper not only enriches the study of the trust degree and the identification of key nodes in the social network, but also inspires agricultural material retailers to formulate a reasonable marketing strategy aiming at key farmers.
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    How does Package Size Moderate the Effect of Uncertain Promotion?——Empirical Evidence from Tsingtao Brewery
    Zhang Feng, Tan Xiongkai, Zhang Sha, Zhao Hong
    2021, 33 (9):  169-176. 
    Abstract ( 287 )   PDF (1266KB) ( 188 )  
    Compared to traditional promotions, uncertain promotions have unique advantages, such as low cost and high entertainment, and are widely used in current business practices. Most of the existing literature has focused on the effectiveness of uncertain promotions, while there is little discussion on the boundary condition of uncertain promotions effect. Enterprises still lack enough theoretical guidance. This paper collects data from Tsingtao Brewery, which sells the same product in two package sizes, 12-bottle package, and 6-bottle package. We empirically examine the impact of discount depth on consumer participation in uncertain promotions and further discuss the moderating role of package size. The results show that the discount depth of uncertain promotions has a significant negative impact on customer participation, and the package size has a significant moderating effect. Specifically, for the large package size, the uncertain discount depth has a significant positive impact on customer participation. In contrast, for the small one, the discount depth has a significant negative impact on customer participation. We discuss the managerial implications at the end of this paper.
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    Study on the Classifier for Mobile Phone Users Considering the Classification Cost——Based on the Perspective of Data Balance
    Wang Chaofa, Wang Shubin, Wang Chengjun
    2021, 33 (9):  177-186. 
    Abstract ( 187 )   PDF (1755KB) ( 77 )  
    Traditional classification algorithms cannot effectively improve the classification effect of users when dealing with unbalanced data. Based on the user information data from a branch of China Mobile Communications Corporation, this study makes, from the data balance perspective, an empirical analysis on mobile phone classifier, the optimal threshold, expected risk, and the relationship between the classification of the cost. Research findings:the accuracy of mobile phone exchange is higher than that of the original data set; With the increase of the threshold value of the classifier, same classification cost ratio, the expected risk appears to increase first and then decrease; the classification result of whether the user changes the mobile phone or not is influenced by the balance of data and the set of classification cost ratio. These conclusions can provide a decision-making basis for mobile phone sellers and manufacturers to improve their management methods.
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    Organizational Behavior and Human Resource Management
    Why do Supervisors Prefer the Voice Behavior of Certain Subordinates? The Effects of Guanxi, Loyalty, Competence and Trust
    Zhou Hao
    2021, 33 (9):  187-197. 
    Abstract ( 475 )   PDF (1310KB) ( 296 )  
    Employee voice behavior is the source of continuous improvement and innovation of the organization, and voice endorsement is the key to turning it from possibility to reality. This study is designed to examine the influence of guanxi, loyalty, and competence on voice endorsement, and the mediating role of affect- and cognition-based trust. The research based on the sample of 260 dyads of employees-immediate supervisors shows that guanxi, loyalty and competence have a positive effect on voice endorsement. Affect-based trust mediates the relationships between guanxi, loyalty and voice endorsement, whereas cognition-based trust mediates the influence of loyalty and competence on voice endorsement. Finally, the theoretical contributions, empirical implications and future directions are discussed.
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    A View from Expatriate Executives to Cross-cultural Leadership Adjustment
    Meng Lu, Qiao Kun, Lv Tu
    2021, 33 (9):  198-210. 
    Abstract ( 267 )   PDF (1416KB) ( 166 )  
    The present paper analyzes the cross-cultural leadership behavior adjustment based on the data of 354 expatriate executives from 40 countries and 16 industries. Two themes are identified:leaders' behavioral adjustment and internal organizational environment coordination. Four modes of behavior adjustment are proposed:replication, absorption, determination and Eeploration. Distribution of modes on home country, expatriate tenure, industry, age and gender are explored. Furthermore, One-Way ANOVA is used to analyze 71 paired samples of expatriate executives and their direct subordinates, aiming to compare the differences of leadership effectiveness on modes of cross-cultural leadership behavior adjustment. The findings of this paper sheds light on role expectation, behavioral adjustment and cross-cultural adaptability for expatriate executives.
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    A Research of Developing Humble Leadership Scale in Chinese Context
    Feng Jingming, Liu Shanshi, Wu Weijiong
    2021, 33 (9):  211-223. 
    Abstract ( 490 )   PDF (1485KB) ( 336 )  
    As business environment changes rapidly, traditional leaders' wishes about "leading at the top of pyramid" are more and more difficult to fulfill. On the contrary, the "bottom-up" humble leadership conforms to the requirement of the time. Although the Western researchers put forward the concept of humble leadership, it always fails to apply in China due to its poor structural validity. Therefore, this research plans to develop a scale of Chinese humble leadership, which will help to fill in such research gap. First, based on the theory of humility and Chinese culture and thoughts, this research deduces the dimensions and construct of Chinese humble leadership. Second, we use qualitative research method to form initial scale. Third, according to the pre-survey, we analyze and modify the initial scale, and then finally generate the formal scale. At last, we examine the criterion-related validity of the new scale. This research successfully develops a three-dimension scale with 19 items, and finds that the Chinese scale can measure the true humility. Besides, the Chinese scale has a better structural validity than the Western scale.
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    The Mechanism of the Influence of Hindrance Stressors on Employees' Counterproductive Work Behaviors: An Experience Sampling Study
    Zhang Zhixin, Liang Fu
    2021, 33 (9):  224-236. 
    Abstract ( 292 )   PDF (1352KB) ( 284 )  
    The impact of stress on employees' counterproductive behavior is a focus in the field of organizational behavior. Based on resources conservation theory, this study uses an experience sampling method to explore the impact of hindrance stressors on employees' counterproductive behavior (CWB). The study finds that daily hindrance stressors have a positive effect on CWB-O and CWB-I on the second day. Daily emotional exhaustion serves as an mediator between daily hindrance stress and CWB-O and CWB-I on the second day. Learning activities will weaken the positive effects of hindrance stressors on emotional exhaustion, and moderate the daily mediation of daily emotional exhaustion on daily hindrance stress and the CWB-O and CWB-I on the second day. However, the moderating effects of relaxation activities in this mechanism have not reached significant levels. The research results expand the theoretical results of the relationship between stress and non-ethical behavior of employees from the perspective of time lag, and can provide effective practical guidance for organizations to reduce employees' counterproductive behavior under stressful circumstances.
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    Organization and Strategic Management
    Game Analysis of Multi-agent Behavior of Equipment Manufacturers in Hybrid Offerings
    Luo Jianqiang, Zhang Qinhong, Yang Zichao, Peng Yongtao
    2021, 33 (9):  237-248. 
    Abstract ( 207 )   PDF (1927KB) ( 82 )  
    Hybrid offering is a significant way for Chinese equipment manufacturers to achieve the goal of service-oriented manufacturing transformation. In this process, manufacturers take service derivatives as the measure and match equipment products and derivative services to meet customer needs. However, the performance of hybrid offerings is influenced by different targets and actions from manufacturers, governments and customers. Accordingly, this study first clarifies their conflicts and interactions. On this basis, a three-party evolutionary game model is established. Finally, based on the model, a simulation method of system dynamics is used to analyze the changing rules under different agents' action strategies and parameters. The results show that if the servitization level is high, even without the participaton of governments, only the other two parties could achieve an iedal stability, but if the servitization level is low, all three parties have to participate to release the value of hybrid offering. Besides, in this offering process, governments should adopt "push-pull" method, develop appropriate incentive and mandatory penalty policies and set up interactive platforms; manufacturers should provide customers with higher-value-added services and highlight the potential loss of customers who don't buy hybrid offering; and customers should avoid falling into short-sighted mindset and actively join interactive activities. In this way, individual interests and value co-creation could be coordinated.
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    Strategic Isolation, Capability Loss and Low-end Lock-in
    Hu Dali, Yin Xiaowen, Chen Feilong
    2021, 33 (9):  249-259. 
    Abstract ( 212 )   PDF (1293KB) ( 66 )  
    Sinceits reform and opening up, China has gradually integrated into the global value chain with its own comparative advantage and now has become "the world's manufacturing factory" that is growing rapidly. At the beginning of cooperation with multinational corporations, China's OEMs can take advantage of multinational companies' assistance to achieve production and process upgrading. However, as the OEMs try to enter higher-level value chain, multinational corporations will block them by all means, of which strategic isolation is a commonly used one. This paper uses the theoretical and empirical study to research how multinational corporations' strategic isolation causes OEMs to locked in low end. The research shows strategic isolation has a significant positive correlationship with OEMs' low-end locke-in, OEMs' loss of upgrading capability also has a significant positive correlation with OEMs' low-end lock-in, and the loss of OEMs' technology upgrading capability and market upgrading capability act partially as a mediator between the strategic isolation and the low-end lock-in. Based on that, this paper puts forward corresponding solutions for OEMs to break multinational corporations' strategic isolation, get out of low-end lock-in and climb up n global value chain.
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    CEO Power and Internationalization Speed of Chinese Firms——The Mediating Effect of TMT Risk Attention
    Fang Hong, Wang Yimin, Sun Chen
    2021, 33 (9):  260-273. 
    Abstract ( 276 )   PDF (1349KB) ( 107 )  
    High risks are hidden behind the "accelerated" and "leap-style" internationalization process of Chinese enterprises. CEO power plays an important role in the internationalization strategy, yet few studies discussed its internal mechanisms of how CEO power influences the internationalization strategy through changing TMT cognition. Based on the classic paradigm of "organizational situation-attention allocation-decision-making", taking the internationalization speed of Chinese listed companies as the research object, this study examines the TMT international risk attention as a mediating mechanism linking CEO power to internationalization speed. The results show that CEOs with high power obtain benefits during their tenure by increasing investment commonly. Meanwhile, power spurs behavior approach systems, making CEOs pursue the benefits of rapid internationalization and ingore risks. CEO power becomes an important organizational context for TMT decisions and affects their attentions by influencing organizational activities, process, and communications. The optimism of CEOs with higher power will reduce TMT's international risk attention. The speed of internationalization increases when TMT pays less attention to international risk factors.
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    Operations Management
    Project Buffer Sizing Method Based on Activity Time Characteristics
    Zhang Junguang, Li Jing
    2021, 33 (9):  274-283. 
    Abstract ( 165 )   PDF (2054KB) ( 60 )  
    Classical buffer sizing methods do not take into account the impact of the activity time characteristics when extracting the security time and determining the buffer, thus making the extracted safety time and the determined buffer too large. In order to reflect the time constraints of the activities, a buffer sizing method based on activity time characteristics is proposed. The buffer determination is divided into two aspects:buffer size determination and buffer position determination. Firstly, the safety time extraction ratio is determined by defining the duration elasticity factor to quantify the activity time extraction ratio and the amount of project buffer; then, the centralized and decentralized management of buffer is determined according to the characteristic of period of activities obeying lognormal distribution. The simulation results show that considering the activity time characteristic, the project duration can be shortened effectively, the buffer consumption is reduced, and the project's on-time completion rate is improved.
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    Research on the Efficiency of New Energy Vehicle Charging Facilities Based on Complex Network
    Liu Qiwei, Le Wei, Guo Benhai
    2021, 33 (9):  284-293. 
    Abstract ( 194 )   PDF (7379KB) ( 139 )  
    The unreasonable layout of charging facilities and the unbalanced connection between the stations lead to inefficient use of urban charging network and unsatised demand for new energy vehicle charging. In view of this, on the basis of the existing charging network, we define the network strategy of new charging facilities two dimensions:network centrality and the number of charging piles, and construct a dynamic simulation model of charging network to simulate the promotion of charging facilities construction under different strategies and to reveal the evolution trend of urban charging network structure characteristics and use efficiency. The results show that when the four strategies of moderate development, moderate reduction, deep development and coordinated development are adopted, the overall utilization efficiency of urban charging network will be improved to a certain extent, but there are differences in the evolution trends of the charging network and its utilization efficiency under different strategies; merely increasing investment in the construction of charging facilities does not lead purely to higher efficiency of a city's charging network as continous construction at an agreessive pace may bring negative spillover effects.
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    Logistics and Supply Chain Management
    The Pricing Model of Emergency Supplies Purchasing Based on Production Capacity Reserve
    Hu Zhongquan, Tian Jun, Feng Gengzhong
    2021, 33 (9):  294-303. 
    Abstract ( 195 )   PDF (1428KB) ( 168 )  
    In order to better promote the cooperation with the contractual enterprises in the production capacity reserve of emergency supplies, governments need to reasonably price the supplies provided by enterprises. Based on this, from the perspective of market mechanism, this paper establishes a pricing model of emergency supplies procurement based on the capacity reserve of contractual enterprises by using a quantity flexible contract. After deducing the optimal reserve decision of the enterprise and the optimal purchasing price of the government, the paper finds that the quantity of government's own reserve and the probability of disasters have a significant impact on the decision-making of both the government and the enterprise. The impact of these two factors on the government' cost and enterprise's profit is further analyzed. The results show that when the decision-making of both the government and the enterprise reaches equilibrium state, (1) the optimal purchasing price of the government decreases with the increase of the probability of disasters, but at this time, the contractual enterprise would increase the reserve, instead of reducing it, resulting in a increase in profit; (2) excessive quantity of government reserve does not only hinder the willingness of the enterprise to cooperate, but also increases the purchasing price and the government's cost. Finally, the validity of the conclusions is verified by numerical simulation.
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    Contagion and Spillover Effects of Associated Credit Risk in Supply Chain Based on Buy-back Guarantee
    Xie Xiaofeng, Zhou Zongfang
    2021, 33 (9):  304-314. 
    Abstract ( 184 )   PDF (2048KB) ( 72 )  
    In the buy-back guarantee situation, this paper adopts dual Stackelberg game, on the basis of analyzing the contagion mechanism of associated credit risk in a two echelon supply chain composed of a supplier and a retailer, constructs the basic model and derivative model to study the internal contagion and spillover effects of associated credit risk in the supply chain. Numerical analysis results show that contagion effect of associated credit risk in supply chain has trigger thresholds, and when contagion effect occurs, buy-back rate, loan interest rates and production cost have a positive impact on the contagion effects; while the market price of products has a negative impact on the contagion effect. On the other hand, buy-back rate weakens the positive spillover effect of associated credit risk. The research of this paper has important theoretical and practical significance for risk control of supply chain enterprises and loan institutions.
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    Supply Chain's Trade Credit Decisions under Risk Control with CVaR Criterion
    Chen Zhiming, Fu Kaifang, Wang Xuantao
    2021, 33 (9):  315-325. 
    Abstract ( 211 )   PDF (1351KB) ( 67 )  
    In the supply chain, trade credit is a widely used method of payment, which may transmit the volatility of market demand in the form of default risk to upstream firms. In order to reduce the default loss, we set up a modified newsvendor model combined with default possibility. The optimal lot sizes of manufacturer and retailer are derived separately under CVaR criterion, aiming to minimize unexpected loss. Finally, we analyze the effects of trade credit and quantity discount on the supply chain coordination. It is found that the manufacturer may deliver less orders because of the existence of the retailer's default risk. This phenomenon gets more significant when the manufacturer changes from risk neutral to risk averse. When the default possibility increases, less risk-averse manufacturers will reduce the retailer's order more sharply. Although a larger scale of loss can be avoided by cutting the order, the profits of both parties in the supply chain decrease, leading to the deviation from supply chain coordination. Trade credit can make the supply chain coordinated implicitly when the credit period is long enough. Moreover, quantity discount is able to improve the retailer's order quantity, but not to the extent of achieving supply chain coordination, which still depends on the risk aversion level of the manufacturer.
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    Case Studies
    A Study on Sustainable Supply Chain Governance Path from the Perspective of Resources and Capabilities——Based on a Case Study of Lenovo's Global Supply Chain
    Li Jingjing, Li Yongjian, Song Hua, Yao Bingqian
    2021, 33 (9):  326-339. 
    Abstract ( 456 )   PDF (1664KB) ( 331 )  
    Sustainable supply chain performance and competitive advantage are based on specific resources and capabilities of organizations. Existing literature seldom explores the path evolution and dynamic process of ustainable supply chain's governance from the perspective of resources and capabilities. Taking Lenovo's global supply chain as the object, this study conducts a case study using the Resource Orchestration Theory and Relational View. Data shows the sustainable supply chain governance experiences three stages:the first is the core enterprise governance, the second is the supply chain members governance and the third is the supply chain ecosystem governance. Each stage follows the process of governance motivation-governance mechanism-governance effect. The internal and external resources and capabilities of core enterprise play the role of a foundation for governance. The governance mechanism, which comprises resources reorganization, capability reconstruction and value creation, exerts a governance effect with positive feedback, and gradually realizes sustainable governance goal from the inside out. In this paper, the governance path reflects the capability transformation from commitment, via connection and to consistency of Social Resource-based View. The results may have important reference value and management insights for improving the market competitiveness of Chinese enterprises and their supply chains through sustainable governance.
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    The Evolution of Dynamic Capability Based on Strategic Orientation and Organizational Structure Interaction: A Case Study of Haier Group
    Lu Yanqiu, Song Chang, Wang Xiangyang
    2021, 33 (9):  340-352. 
    Abstract ( 453 )   PDF (1703KB) ( 293 )  
    Strategic orientation and organizational structure are crucial factors that affect the formation of dynamic capabilities, but most of the existing researches study dynamic capabilities from a single factor based on the perspective of capability. From the perspective of process, this paper selects Haier Group as the research object based on contingency theory, constructs a model of interaction between strategic orientation and organizational structure. Then the formation mechanism and evolution path of enterprise dynamic capabilities are summarized. The study finds that:(1) Due to the contradiction between the advancement of strategic orientation formulation and the lag of organizational structure adjustment, enterprise reform needs to experience the mismatch of the old organizational structure caused by the strategic orientation changes, which promotes organizational structure changes, and then the new organizational structure supports the new strategy and regulates the interactive process of its implementation; (2) The interaction between strategic orientation and organizational structure causes changes in the direction of organizational learning and the reconstruction of organizational resources and rights, thereby promoting the continuous evolution of dynamic capabilities; (3) The growth of enterprises will go through three different stages:scale expansion, technological innovation and sharing and opening, during which environmental changes will prompt changes in the focus of dynamic capabilities, forming the evolution path from organizational flexibility capabilities to innovation capabilities and then to ecological connection capabilities. Based on the local enterprises, this paper discusses the evolution mechanism of dynamic capabilities, which has certain practical enlightenment for local enterprises to cultivate dynamic capabilities.
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