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The Wu-li, Shi-li, Ren-li Approach (WSR): An Oriental Systems Methodology
A Twenty-five-year Review of WSR Methodology: Origin, Connotation, Comparison and Outlook
Kou Xiaodong, Gu Jifa
2021, 33 (5):  3-14. 
Abstract ( 59 )   PDF (1386KB) ( 62 )  
Since Wuli-Shili-Renli Systems Methodology (WSR) is to meet its 25-year birthday, the authors give a review of it from four aspects. Firstly, on origin of WSR, a new illumination of its starting point and evolution is put forward from three perspectives, i.e., difference and commonness, mainstream and anabranch, east and west. Secondly, on connotation of WSR, a comparatively complete analysis of its implication is offered from two phases, including primary phase and high-level phase. Thirdly, on comparison of WSR, methodologies such as TOP, CmCvAwAs, three order cybernetics and Shinayakana are compared to WSR to discover their similarities and commonness. Finally, on outlook of WSR, challenges and opportunities faced by it and key points of its future development are all suggested.
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Stages and Prospects of Domestic and Foreign Researches on WSR System Methodology
Gao Chang, Zhang Lingling, Xiong Ao, Lu Tao
2021, 33 (5):  15-29. 
Abstract ( 31 )   PDF (4843KB) ( 41 )  
With the four-stage theory of scientific development, we apply the bibliometrics, social networks, and content analysis methods to analyze the domestic and foreign literature of the Wuli-Shili-Renli (WSR) System methodology from 1995 to the present. We explore the evolution stages of WSR with the basic literature profile, research content, and academic cooperation in the WSR research field. We find that WSR research began its conceptualization and tool construction stages in 1994 and entered the application stage in 2005; domestic and foreign WSR researches develop at different speed; WSR should prepare for the challenge of the coming integration stage. This research is also an empirical study of the four-stage theory of scientific development; our analysis framework might provide implications for the evolution rules analysis of other disciplines and methodologies.
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Evolution and Influences of Wuli-Shili-Renli System Approach
Chen Jindong, Liu Linlin, Du Yuxuan, Qi Lin, Zhang Jian
2021, 33 (5):  30-43. 
Abstract ( 20 )   PDF (6053KB) ( 41 )  
Based on literature analysis, the evolution patterns and influences of Wuli-Shili-Renli (WSR) system approach are investigated. Selecting Web of Knowledge, CNKI and Google Scholar as data sources, the literature on WSR system approach from 1995 to 2018 is retrieved, and the main stages of WSR system approach are divided. Through complex network and dynamic topic model, the literature of WSR system approach is analyzed, and the main authors and departments, and the evolution tendency of WSR system approach are explored. Through the countries and fields information analysis of literature, the influences of WSR system approach to system science and engineering of China are evaluated. The results shows: WSR system approach has promoted the development of system science and engineering of China, and improved its international influence; WSR system approach has evolved from theoretical exploration to practical application; WSR system approach has been widely used in systems evaluation and emergency management etc., and the research tendency presents diversity.
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The Discovery and Comparison of Three Generation Paths of WSR Methodology
Mao Zijun, Zhao Guojie, Wang Haifeng, Zhao Mofei
2021, 33 (5):  44-56. 
Abstract ( 18 )   PDF (2936KB) ( 33 )  
WSR methodology is actually an independent system methodology that originated not merely from systems science or a single discipline of engineering. Through in-depth literature digging and comprehensive cross-comparison research, we find that in China, WSR methodologies, which are seemingly different but essentially same, came into being from at least three paths, including system science, ecological science and material science. (1) Gu Jifa developed “WSR system methodology” in his pioneering research on system engineering; (2) Wang Rusong developed “WSQ methodology” and “WSR Methodology” in his research on ecological cities studies; (3) Xiao Jimei transferred the methodology of material science to other fields and developed “method for sorting out disputes among Ren, Shi and Wu”. Zhao Guojie's team guided low-carbon eco-city research based on the concept of “good governance”, introduced Niu Wenyuan's space vector method and improved it twice, practiced “comprehensive integration from qualitative to quantitative” advocated by Qian Xuesen, expanded the Xiao Jimei model into a three-dimensional model, thus highlighted the hierarchical and philosophical nature of WSR methodology.
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From Theory to Practice: Further Exploration of Renli
Gu Jifa, Zhao Minghui, Zhang Lingling
2021, 33 (5):  57-63. 
Abstract ( 25 )   PDF (1267KB) ( 30 )  
Since the advent of the Wuli-Shili-Renli system methodology in 1995, it has received unanimous attention and recognition and has become the typical oriental system methodology. Among them, Wuli and Shili have been fully demonstrated and supported by natural science and management science, while the most difficult Renli needs further exploration from theory to practice. On the basis of previous researches and recent thinking, from the perspective of systems engineering research, this paper puts forward six key elements in theory and summarizes 14 useful softwares in practice of Renli, thus pushing Renli research from qualitative description to quantitative expression and calculation.
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Renli Analysis of Drug Safety Regulation Based on Evolutionary Game
Yan Zhihua, Tang Xijin
2021, 33 (5):  64-75. 
Abstract ( 19 )   PDF (1521KB) ( 26 )  
Drug quality supervision which involves many stakeholders is a complex system problem. This paper applies WSR system approach to analyze the Wuli, Shili and Renli factors in drug safety supervision. WSR framework for drug safety supervision is proposed. Different from the traditional descriptive analysis toward Renli in the past literatures, this paper uses evolutionary game theory to model the behavior and interest motivation of participants in drug safety supervision, and provides suggestions for the design of drug quality and safety supervision mechanism. Besides, Changsheng biological vaccine incident is employed to illustrate the important significance of Renli in drug quality supervision. The results show that the drug regulatory scheme based on WSR needs to consider the public opinions, regulatory strength and accountability strength; improving the management mode of existing regulatory agencies can avoid the opportunism of regulatory agencies; the public may make the drug quality supervision fall into a state of shock by expressing their demands unreasonably.
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People-oriented Harmony and Effectiveness of Internal Control Based on WSR
Huang Rongbing
2021, 33 (5):  76-86. 
Abstract ( 23 )   PDF (1395KB) ( 15 )  
Many cases of internal control failure in enterprises show that, people-oriented factors play an important role in internal control. According to the Wuli (W) [regularities on objective phenomena]-Shili (S) [ways of seeing and doing]-Renli (R) [principles underlying human inter relations] system methodology, this paper analyzes and points out the people-oriented factors in the internal control of enterprises, mainly reflected in the following aspects: (1) The board of directors and the enterprise management should have a consistent recognition of internal control; (2) The risk awareness, internal control and risk management of all employees should be effectively combined; (3) The personnel arrangement and job responsibilities for critical control and overall control should be reasonable; (4) the relationships between parties and groups that may be involved at each level of internal control should be clarified; (5) the internal audit personnel and internal control stakeholders should be mutually supportive and coordinative, etc. The results of empirical study and questionnaire survey show that the performance of people-oriented factors is positively correlated with the reliability of financial reports, which is strengthened with industrial competitiveness. Finally, this paper discusses the WSR three-dimensional index system which incorporates people-oriented factors into the internal control evaluation and introduces its practical application through a case study. This paper provides a decision-making reference for strengthening the people-oriented harmony of internal control in enterprises.
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Dimension Exploration and Scale Development of Manufacturing Enterprises' Service Capability: Based on WSR Framework
Song Jing, Chen Jin
2021, 33 (5):  87-96. 
Abstract ( 26 )   PDF (1372KB) ( 41 )  
This paper mainly explores the component dimension of service capability of manufacturing enterprises, and develops and validates the measurement table of service capability of manufacturing enterprises. On the basis of systematically sorting out the relevant research of service capability, according to the research steps of grounded theory, through open coding, spindle coding and selective coding, the interview data are thoroughly analyzed. Based on the research framework of WSR, three dimensions of service capability of manufacturing enterprises are obtained: relationship capability, response capability and service rules. At the same time, on the basis of combing the relevant literature, the initial scale of service capability measurement of manufacturing enterprises is obtained. By collecting the practical data in the service process of Chinese manufacturing enterprises, exploratory factor analysis and confirmatory factor analysis of the initial scale, the reliability and validity of the scale are verified. This study is helpful to reveal the essential composition of service capability of manufacturing enterprises, and is an important extension of the research on enterprise capability and service-oriented manufacturing enterprises. It lays a theoretical foundation for the service capability of manufacturing enterprises and its empirical research, and also helpful for enterprises to understand the inherent law of service-oriented manufacturing enterprises more thoroughly from the perspective of capability.
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WSR Methodology Based Research on the Mechanism of Online Public Opinion Governance
Liu Yijun, Li Liangliang, Chi Yuxue, Li Mengwei
2021, 33 (5):  97-105. 
Abstract ( 29 )   PDF (2410KB) ( 17 )  
The influence of online public opinion has become increasingly apparent, and how to manage online public opinion has become more and more important. The governance of online public opinion is characterized by complexity, systematicity and difficulty. As a result, a complete network public opinion governance system needs to be established under the guidance of system methodology. Based on the Wuli-Shili-Renli (WSR) methodology, this paper conducts research with a combination of qualitative and quantitative on the core issue of governance mechanism with 297 policies of Chinese online public opinion governance during 20 years (1997-2018).This study intends to analyze the governance mechanism and governance procedures of China's online public opinion governance in a comprehensive and systematic way, in order to provide some reference for online public opinion governance.
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Study on Risk Assessment of Prisoners' Recidivism and Correct Strategy Based on WSR Theory
Liu Boxun, Wu Xu
2021, 33 (5):  106-113. 
Abstract ( 7 )   PDF (1304KB) ( 10 )  
The problem of recidivism is always a complex and noticeable issue. Adequate risk assessment and correctional measures is considered to be an effective way to solve the problem of recidivism. This thesis first proposed to use the “Wuli-Shili-Renli (WSR) Methodology” to evaluate offenders' risk of re-offending. In this paper, prisoners are regarded as the object, and the re-offending risk control is regarded as a complex problem. By means of choosing and classifying the re-offending factors, this paper tries to build the framework for Wuli, Shili and Renli in the process of assessing the re-offending risks and rehabilitative needs.
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Distributed Autonomous Organizations Modeling and Governance on the Perspective Wu-li Shi-li Ren-li Approach
Zhu Xiaowu, Zhang Xueqi
2021, 33 (5):  114-122. 
Abstract ( 12 )   PDF (1309KB) ( 17 )  
Blockchain integrates multiple information technology such as linked list structure, peer-to-peer propagation, consensus mechanism, encryption algorithm, etc. Although blockchain provides a new sustainable mechanism for the scale expansion of modern enterprises with smart contracts, it also brings challenges to the existing market supervision. With the Wu-li Shi-li Ren-li (WSR) approach, we set up a theoretical model of sustainable consensus mechanism (Wu-li) and study the operation mechanism of DAOs. First, we analyze how blockchain changes the border of organizations based on the transaction cost theory. The result shows that DAOs have more advantages in scale expansion than traditional enterprises. Then, we examine the case of imperfect consensus and obtain the scale expansion effect with constraints on consensus quality (Shi-li). Finally, we discuss market failure in the real world with DAOs and propose supervision suggestions on DAOs' operating (Ren-li). In general, market regulators should be more involved in smart contracts while DAOs can suppress the transmission of information asymmetry through reputation incentives. There should be more supervision on both “chain terminals” and “the chain”. Decentralized collaboration of multiple regulators can be carried out to improve the effect of supervision. In this study, the Wu-li Shi-li Ren-li (WSR) approach provides a theoretical guidance on the establishment of DAOs and help to promote the innovation and supervision of organizational form in the era of digital economy.
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Analysis of Application of WSR Methodology to Operational Commanding
Li Fuxin, Tang Xijin, Wang Wei
2021, 33 (5):  123-133. 
Abstract ( 11 )   PDF (2663KB) ( 22 )  
After 25 years of continuous development, the application of WSR methodology (Wuli-Shili-Renli, referring to a methodology based on physics, reason and people) has been expanded to many fields. In order to further expand the application of WSR methodology and make the understanding of operational commanding more scientific, systematic and integrated, this paper comes up with a three-dimensional system of operational commanding WSR, and theoretically discusses the system based on the previous war cases at home and abroad. Based on the three classic working processes of WSR methodology, a “13-step” method of operational commanding activities is put forward. According to the feedback of experts, iView software is used to verify and improve the WSR three-dimensional system of operational commanding.
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Research on the Formation Mechanism of Executive Compensation Stickiness from the Perspective of Compensation Contract——Based on the Interpretation of WSR Methodology
Sun Shimin, Zhang Hannan, Ma Zhiying
2021, 33 (5):  134-141. 
Abstract ( 18 )   PDF (1463KB) ( 28 )  
This paper interprets the wuli, shili and renli in the design of executive compensation contract by WSR methodology, divides the executive effort into two types of “profit-making efforts” and “fundamentals efforts” according to wuli and shili and introduces shareholder incentive preference, executive effort preference and executive risk aversion preference to construct the multitask principal-agent model in order to explore the formation mechanism and influencing factors of executive compensation stickiness based on the perspective of compensation contract. The results are as follows: (1) As an important influence factor in the design of executive compensation contract, the greater the contribution degree of fundamental characteristics to company's future income is, the more obvious the executive compensation stickiness is, which proves that compensation stickiness is an important institutional arrangement for shareholders to reward executives in a certain extent. (2) Shareholder incentive preference, executive effort preference and executive risk aversion preference have an important impact on compensation stickiness. The stronger the shareholder short-term incentive preference and the executive risk avoidance degree are, the weaker the executive compensation stickiness is; the relationship of inverted “U” type exists between executive profit effort preference and compensation stickiness.
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The Port Logistics Risk Management of Hazardous Chemicals Based on WSR Model
Zhou Huan, Liu Jiaguo
2021, 33 (5):  142-151. 
Abstract ( 20 )   PDF (2068KB) ( 18 )  
Scientific risk management method is of great significance in reducing accident rate and loss. The 8·12 explosion of Tianjin Port has aroused great concern about the risk of hazardous chemicals logistics in port. In view of the risks existing in port hazardous chemicals logistics, the WSR model of risk management of port hazardous chemicals logistics is constructed through in-depth analysis on Wuli, Shili and Renli. Based on WSR model, 10 important ports are selected for the risk assessment. The risk assessment results show that the less risky ports in hazardous chemicals logistics are Shanghai Port, Ningbo-Zhoushan Port and Dalian Port, and the more risky ports are Tangshan Port and Tianjin Port. Finally, based on WSR Model, we propose a collaborative management framework of the interaction of Wuli-Shili-Renli, and put forward some suggestions for the sustainable development of port security.
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Research on Knowledge Graph Model of Shili Based on Comparative Analysis of WSR Methodology and Extenics
Li Xingsen, Lu Lin, Xu Libo
2021, 33 (5):  152-162. 
Abstract ( 10 )   PDF (1401KB) ( 14 )  
With the increasing demand of complex problem processing in the network information environment, the research and application of the Wuli-Shili-Renli methodology (WSR) has been paid more attention. However, the three basic concepts of Wuli-Shili-Renli have not been fully modeled and formally expressed, which limits their wider application to a certain extent. This paper makes a comparative analysis of WSR and Extenics, which are both established by Chinese scholars and related to system methodology. The intention and extension of the three basic concepts of Wuli, Shili and Renli are compared and defined with matter element, affair element and relation element of basic element theory in Extenics. Then the differences and cross complementarity between them is demonstrated. On this basis, we put forward the basic element expression method of Wuli, Shili and Renli in WSR. Finally, we present the necessity of constructing the Shili knowledge graph in the big data environment and give a Shili model for example, and propose the future cross-research direction of WSR and Extenics.
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Research on the Influencing Factors of Enterprise Network Power Based on WSR
Sun Yonglei, Wang Jing, Chen Na
2021, 33 (5):  163-173. 
Abstract ( 18 )   PDF (1319KB) ( 16 )  
This paper mainly researches the influencing factors of enterprise network power in the innovation network, especially the effect of physics-logic-humanity level factors on enterprise network power. First, based on grounded theory method, three in-depth interviews and coding are conducted to confirm that the strength of the enterprise, the value of knowledge, the acceptance of the convention, the network location, the network capability and the trust between the organizations are the main factors affecting the power of the enterprise network. Secondly, the factors of physics-logic-humanity are deeply analyzed under the framework of WSR, and on this basis, the research hypotheses of the influence of different factors on network power are put forward. Finally, the empirical data of Chinese enterprises' cooperative innovation is collected and empirically tested. It is found that the relationship between enterprise capability and network power has not passed the test. There is an inverted U-type relationship between the acceptance degree of practice and network power, knowledge value and network location. There is a significant positive relationship between centrality, network location structure holes, network capabilities, and inter-organizational trust and network power.
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Research on the Driving Factors of Service Brand Value of Smart Communities Based on WSR System Methodology
Zhang Yingli, Zhao Hong, Yao Ge
2021, 33 (5):  174-183. 
Abstract ( 10 )   PDF (1807KB) ( 21 )  
Emerging science and technology empower the property service of smart community, which endows more possibilities for its objective existence of “Wu” (Business Model), “Shi” (Operation Mechanism) and the service subject “Ren” (Community Residents). Namely, the community residents can perceive more about the brand value empowered by the smart service. This paper innovatively applies WSR system methodology to the research field-brand value, and investigates the driving factors of brand value based on smart community service mode. Through the empirical analysis of the effective samples by using structural equation model, this paper verifies the hypotheses of driving factors of smart community service brand in the dimension of “Wuli-Shili-Renli”. The results indicate that: (1) The “Wuli” and “Shili” influencing factors of smart community service system are positively related to functional and emotional value of service brand respectively; (2) The information / resource sharing and value co-creation mechanisms of “Shili” influencing factors play an active role in facilitating the consumers' perceptions of functional value of service brand. However, due to the smart community is in the initial stage, the breadth and depth of its service in practice are limited. Moreover, under the influence of traditional community positioning and residents' behaviors, the hypotheses of network / platform operation and brand interaction mechanisms are not supported; (3) In general, functional value and emotional value further have a positive impact on consumers' perceived service brand value of smart community. This study enriches the research on the influencing factors of the consumers' perceived value of service brand and the practice of WSR method in the smart service environment, which provides a meaningful reference and guidance for the smart community brand construction of property service enterprises.
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Influencing Factors and Governance Strategies of Online Public Opinion Dissemination for Sharing Economy Platform Events: Grounded Analysis Based on WSR
Jiang Guoyin, Chen Yufeng, Cai Xingshun, Zhang Meijuan
2021, 33 (5):  184-193. 
Abstract ( 57 )   PDF (1389KB) ( 55 )  
Understanding the influencing factors of online public opinion for platform service quality events has important theoretical and practical significance for the platform innovation and implementation of governance. Taking the DiDi online car-hailing sharing economy platform event as an example, the research collects a large volume of online reviews from Sina Weibo and APP Store, selects 1393 effective online reviews, and uses grounded theory to make an analysis. In other words, this analysis is, through the development of coding and spindle coding, to obtain the factors that influence the spreading of online public opinion for sharing platform event. Based on the Wuli-Shili-Renli (WSR) methodology, this paper puts the related factors into the three core categories including Wuli, Shili and Renli, and provides the countermeasures for online public opinion governance. This study can not only enrich the theoretical framework of influencing factors of online public opinion dissemination, but also provide methodological reference for governance of online public opinion for platform event.
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Government R&D Subsidies, Executive Social Embeddedness and Private R&D Investment Decision-making——Empirical Research on Listed Manufacturing Enterprises Based on WSR Methodology
Zhang Xiao, Zhao Minghui, Zhang Lupeng
2021, 33 (5):  194-207. 
Abstract ( 24 )   PDF (1569KB) ( 27 )  
As the R&D activities of enterprises contain high risks and uncertainties, the government provides innovation subsidies to help enterprises cope with market failures. The relationship between innovation policy and enterprise innovation behavior has always been a hot topic in the field of innovation management. Based on WSR methodology, using the data of listed manufacturing companies in CSMAR database from 2009 to 2018, this study explains the best coping strategies adopted by decision-makers in the face of the external objective environment from enterprise management level, explores the different mechanisms of different policy subsidy tools for enterprises to carry out innovation activities, and makes theoretical analysis and empirical test on the relationship among government innovation subsidies, executive relationship embedding and enterprise R&D investment decision-making. It is found that different innovation subsidy policy tools have different effects on R&D investment of enterprises; enterprise managers with embedded political relations and academic relations have richer information resources and are more likely to face risks and costs brought by uncertainty, so they tend to make decisions of increasing R&D investment and starting R&D projects. WSR methodology provides an investigation into the factor of “Renli” for the innovation decision-making process of enterprises and helps enterprise managers to use management scientific knowledge and organize the best “Wuli” and “Shili” to form their innovation behavior rules.
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The Influence of Environmental Uncertainty on Cyberloafing from the Perspective of WSR Methodology——The Mediating Effects of Top Management Team Conflict
Zhang Shengtai, Zhang Mengtao, Bai Shaoyi, Qiu Luyi, Liu Na
2021, 33 (5):  208-216. 
Abstract ( 15 )   PDF (1329KB) ( 17 )  
Changes in the environment will affect work behavior of employees. Based on the Wuli-Shili-Renli (WSR) system approach, this paper analyzes the Wuli factor (W: environmental uncertainty), the Shili factor (S: TMT Conflict) and the Renli factor (R: cyberloafing) of the process of enterprise management. This study examines the influencing mechanism of environmental uncertainty on cyberloafing and the mediating mechanism of TMT Conflict. The results of study indicate that environmental uncertainty has a positive effect on cyberloafing; The two dimensions of top management team conflict (cognitive conflict and relational conflict) play a mediating role between environmental uncertainty and cyberloafing, among which cognitive conflict plays a partial mediating role and relational conflict plays a full mediating role. According to the research conclusions, this paper puts forward the corresponding management suggestions from the three aspects of Wu-li, Shi-li, Ren-li.
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Research on the Impact of Corporate Social Responsibility on Working Capital Management Efficiency Based on WSR——The Moderating Role of Stakeholder Cognition
Jiao Ran, Wen Subin, Zhang Jinquan
2021, 33 (5):  217-235. 
Abstract ( 13 )   PDF (1520KB) ( 17 )  
Working capital is an indispensable key resource for enterprise production and operation, and it is an important guarantee for the high-quality development of enterprises. Existing researches on working capital management focuses merely on itself and ignores the stakeholders related to the working capital, so they fail to answer the question of how to improve the efficiency of working capital management. Based on WSR methodology, this paper puts forward a Wuli-Shili-Renli framework of corporate social responsibility affecting working capital management, and clarifies the role of stakeholder cognition between the two. The findings are as follows: (1) Corporate social responsibility improves the efficiency of working capital management. However, as the intensity of fulfilling social responsibility increases, the incentive effect of social responsibility activities decreases, and the improvement of working capital management efficiency becomes insignificant. (2) Stakeholder cognition has a significant moderating effect on the relationship between corporate social responsibility and working capital management. Under the influence of high level of cognition, stakeholders have stronger perception of the incentive effect of corporate social responsibility, and then take more active actions to strengthen the efficiency of working capital management.
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A Two-stage Decomposition Ensemble Model with Internet Search Data for Air Passenger Demand Forecasting
Liang Xiaozhen, Zhang Qing, Yang Mingge
2021, 33 (5):  236-245. 
Abstract ( 18 )   PDF (1887KB) ( 15 )  
As Internet search behavior reflects the needs and preferences of users, it can be used as a practical tool for demand forecasting. Therefore, this paper proposes a two-stage decomposition ensemble model with Internet search data (e.g. Baidu search index) for air passenger demand forecasting. The first stage of the proposed model is Internet search data preprocessing. By expanding the candidate set of the keywords, denoising the keywords time series, selecting appropriate keywords from that candidate set, and decomposing each series of the selected keywords into three components (i.e. seasonal factor, trend-cycle component and irregular component) by seasonal decomposition, three databases on keywords series are obtained accordingly. The second stage of the proposed model is prediction and evaluation. Firstly, the original air passenger demand time series is decomposed into three components by seasonal decomposition. Then, the three components are predicted independently and these prediction results of the components are combined as an aggregated output. The empirical results show that the proposed model achieves better forecasting performance than the benchmark models, and it can provide a valuable reference for making decisions in transportation management.
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What Makes a Helpful Review? A “Meta-analysis” Based on Elaboration Likelihood Model
Wang Yani, Wang Jun, Yao Tang, Wang Taiming
2021, 33 (5):  246-256. 
Abstract ( 20 )   PDF (1653KB) ( 24 )  
Online review helpfulness has increasingly become a hot topic in recent years. However, existing researches fail to reach consistent conclusions on the direction and strength of the factors affecting review helpfulness. Combining empirical studies on the helpfulness of online reviews at home and abroad, our work builds a framework based on elaboration likelihood model and utilizes Meta-analysis to reanalyze 540 effect values of 138 independent studies. Our work explores the quantitative relationship between review helpfulness and its influencing factors from both review (central route) and reviewer (peripheral route) characteristics, and further explores the reasons for the heterogeneity through Meta-regression and finds some interesting insights. This study has great significance for academic research and e-commerce practice.
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Exploring Stock Price Trend Using Seq2Seq Based Automatic Text Summarization and Sentiment Mining
Qi Tianfang, Jiang Hongxun
2021, 33 (5):  257-269. 
Abstract ( 14 )   PDF (2624KB) ( 13 )  
Text sentiment mining is widely used in empirical studies for stock prices forecasting or trend analysis. Existing researches tend to focus merely on mining the full texts of financial news with an underlying assumption that all contents are related to its topic and all sections count equally. Clearly this is unduly restrictive due to the presence of irregular text format and structural confusion of internet news. This paper proposes and studies stock trend prediction models with text summarization and sentiment mining. We use Seq2Seq method to summarize news texts automatically, then mine their sentiment to improve the performance of models, and finally incorporate these sentiment values as additional features into the machine learning of stock prediction. We conduct experiments to compare two strategies, one with sentiment values of full texts and the other with sentiment value of text summary. The results show that a) their curves of emotional fluctuation are the same in most cases, but the one with text summary has smaller range and is more stable; b) the one with text summary is more sensitive to negative emotional words; c) the one with text summary, in the stock market trend prediction, obviously dominates the other.
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Study on Data Resource Sharing Evolution Mechanism of Big Data Alliance from the Perspective of Symbiosis
Hu Yanling, Zhai Lili, Gao Changyuan, Zhang Shuchen
2021, 33 (5):  270-280. 
Abstract ( 21 )   PDF (1736KB) ( 28 )  
Big data alliance is a service innovation carrier based on data resource sharing. Whether it can form good relationship of data resource sharing among multiple members, determines success or failure of alliance operation, and the overall system function. This paper establishes a data resource sharing evolution model of big data alliance using the extended logistic with quality parameter compatibility, and explores data resource sharing evolution mechanism. The results show that: big data alliance is a service ecosystem, in which core enterprise symbiotic units and non-core enterprise symbiotic units execute service innovation activities in the symbiosis environment. The evolutionary result of data resource sharing among members depends on the symbiosis coefficient. Reciprocal symbiotic pattern is the best evolution direction of data resource sharing in big data alliance.
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Research on the Influence of Emotion in Social Media on Stock Market in the Context of Stock Market Crash
Qiu Jiangnan, Ge Yidi
2021, 33 (5):  281-294. 
Abstract ( 17 )   PDF (3083KB) ( 13 )  
Based on the background of a typical stock market crash for Chinese stock market in the second half of 2015, this study selects 60 stocks in the Shanghai and Shenzhen 300 Index stocks as a sample through stratified sampling, and crawls the Sina Weibo texts related to the company for calculating the multi-category emotion in social media (or investor sentiment). This study evaluates the impact of investor sentiment on stock market during crash period. Based on the “Emotion-Cognition-Behavior” framework, the study mines the hidden state of “market cognition” for the stock market by using Hidden Markov Model (HMM), and then establishes an indirect relationship between investor sentiment and stock return. The study discovers that investor sentiment indirectly affects the stock market by the market cognition. To be more specific, positive sentiment plays a positive role in adjusting market cognition, while negative sentiment with high arousal (e.g. “Anger”) will worsen the market cognition toward the crash state. The results guide business operators to make scientific emotional counseling strategies to reduce the impact of investor sentiment in social media on the market during the crash period. In addition, this study also provides a new approach for business operators to explore the relationship between sentiment and stock market indicators by hidden states mining.
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The Role of Social Media in Corporate Management of Crises
Jia Ming, Sun Xiangkun, Zhang Zhe
2021, 33 (5):  295-304. 
Abstract ( 20 )   PDF (1319KB) ( 32 )  
In addition to responding to public sentiment on social media passively, the company can initiatively use social media to deal with crises as well. Based on manually collected data about listed company's blog message on Sina microblog from 2010 to 2016, we find that after the exposure of corporate crises, in order to change the distribution of investors' attentions on different information channels and dilute investors' attentions on the crises, the focal firms will intentionally publish a large number of irrelevant blogs through their official accounts, especially for those with good experience on using official blogs. Subsequently, the behavior of the companies will mitigate investors' negative reactions to crisis events during the following days.
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The Differential Impact of Interactive and Non-interactive Knowledge Search on Ambidexterity Innovation of Enterprises: The Moderating Effect of Knowledge Distance
Ye Jiangfeng, Chen Shan, Hao Bin
2021, 33 (5):  305-318. 
Abstract ( 17 )   PDF (1890KB) ( 19 )  
Interactive and non-interactive knowledge search are important strategies in firm's innovation practice, but the differentiated impact of these two strategies on ambidexterity innovation (i.e., radical innovation and incremental innovation) remains vague and unclassified, and the moderating effect of knowledge distance between enterprises on this relationship is rarely involved. This paper divides a firm's knowledge search into two types: interactive knowledge search and non-interactive knowledge search. Using a sample of 251 innovative enterprises in the Yangtze River Delta region, this study explores the differential impacts of two search strategies on ambidexterity innovation and the moderating effects of knowledge distance on the above relationships. The results indicate that interactive knowledge search is more conductive to radical innovation than non-interactive knowledge search, and non-interactive knowledge search is more beneficial to incremental innovation compared with interactive knowledge search. In addition, knowledge distance positively moderates the effects of interactive and non-interactive knowledge search on radical innovation, and negatively moderates the relationship between interactive knowledge search and incremental innovation, but the negative moderating effect of knowledge distance on the relationship between non-interactive knowledge search and incremental innovation is not significant. This study provides theoretical reference and practical guidance for enterprises to select appropriate external knowledge search strategies and search objects for achieving optimal innovation performance.
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Influence of Network Celebrity Live Broadcast on Consumers' Virtual Gift Consumption from the Perspective of Information Source Characteristics
Meng Lu, Liu Fengjun, Duan Shen, Zhao Yijun
2021, 33 (5):  319-330. 
Abstract ( 15 )   PDF (1366KB) ( 35 )  
As an important revenue source of live broadcast platform and network celebrity, virtual gift consumption has attracted more and more attention of academia and enterprises. This study constructs a theoretical framework of the influence of online celebrity live broadcast on the virtual gift consumption of the audience. Through qualitative research and quantitative analysis of Python reptile barrage, study 1 summarizes and verifies that the audience's virtual gift consumption is mainly influenced by seven characteristics of the live network, namely, credibility, professionalism, interactivity, usefulness, entertainment, skill and attraction. In Study 2, with the help of the two-way theory of emotional cognition, structural equation model is used to verify that emotional dependence, perceived face threat and relationship specification perception play an intermediary role in the influence of the network celebrity information source characteristics of the live broadcast on the consumption of virtual gifts. This study has important theoretical significance and practical application value as it is intended to provide decision support for corporate celebrity marketing.
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Users' Internet Behavior Characteristics and Professional Knowledge Level——An Empirical Study Based on the Users of
Lin Jie, Yang Zhaojie
2021, 33 (5):  331-340. 
Abstract ( 18 )   PDF (1363KB) ( 20 )  
To recognize network characteristics of users with a high level of professional knowledge in professional BBS is of vital importance for enterprises to recognize lead users with a high value, who can help promote interactive innovation of product. This paper chooses data from, a professional automobile BBS, and conducts textual analysis and statistics of user network behavior features. The two-stage least square meter is adopted for modeling and to conduct correlation analysis of users' internet behavior characteristics and professional knowledge level. Empirical results suggest that users with a high level of professional knowledge usually demonstrate the following features: a high degree centrality, a high reply frequency, a long average length of posts, a large number of fans, and simultaneous activity in multiple subgroups. This research can render practical foundation for enterprises interactive innovation.
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Research on the Influence Mechanism between Brand Experience and Consumer Response under New Media Environment
Xu Sheng, Yu Mingyang, Xue Ke, Zhou Guang
2021, 33 (5):  341-352. 
Abstract ( 31 )   PDF (1983KB) ( 72 )  
The majority of existing literature focus on the influence of brand experience from enterprise perspective rather than from consumer perspective. To some extent, the studies of brand experience from consumer perspective lags behind, especially under the new media environment. Focusing on the virtual brand of consumer electronics, this paper explores the internal mechanism between brand experience and consumer responses. Based on the surveys conducted by 218 consumers from 22 provinces, municipalities, and autonomous regions, the mediating effects of consumer perceived value and consumer perceived utility as well as moderating effect of psychology distance are analyzed. The results reveal the internal mechanism between brand experience and consumer responses under new media circumstance. This study not only enriches the theoretical applications of construal level theory and brand experience but also provides practical and managerial recommendations on the improvement of brand experience and consumer responses.
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