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20 September 2017, Volume 38 Issue 9 Previous Issue    Next Issue

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A research on the effect of technological innovation persistence on firm’s performance He Yubing, Zhang Si 2017, 38(9): 1-11.  Abstract ( 830 )   This paper aims to study whether the persistence of technological innovation has an effect on firm performance. Based on the related theory, this paper proposes some hypotheses related to the influence of the persistence of technological innovation on firm performance and the moderating effect of diversification intensity on above relationship. The empirical data contains 201 Chinese manufacturing listed firms during the period from 2006 to 2014. The results indicate that: (1) compared to the persistence of explorative innovation, Chinese firms put more emphasis on the persistence of exploitative innovation; (2) the persistence of innovation has an inverted U-shaped influence on firm performance, and this relationship is deeper in firms with high level of diversification intensity; (3) the input persistence of innovation has a positive impact on the output persistence of innovation, however the synergy of the two types persistence of innovation has no significant influence on firm performance. Related Articles | Metrics

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Network Relation, Technology Diversity and the Enterprises' Technological Standardization Capability Zou Siming, Zeng Deming, Zhang Lifei, Chen Wenjie 2017, 38(9): 12-20.  Abstract ( 533 )   This paper aims at empirically analysis on how network relationships affect focal firm’s technological standardization capability, based on the panel data of patents and standards from all 3800 enterprises in cooperative R&D network between 1985 and 2010 in the automobile industry. The data were collected from the National Key Industry’s Patent Information Services Platform and National Library of Standards. The study findings show, both breadth and strength of relationship in the network can influence the enterprise's technological standardization capability positively, the breadth of relationship in the network have a more direct impact than the strength of relationship, the weak related diversity is a mediating variable between the breadth of relationship and the focal firms' technological standardization capability, while the strength of relationship influence the technological standardization capability through strong related diversity. Besides, the strong related diversity is good to improve the dominant advantage in the standards-setting, and the weak related diversity company will likely become the followers in the standards-setting, obtaining more opportunities in different technology fields. Related Articles | Metrics

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Research on the Time Decision-Making Model of Corporate Technology Adoption Wang Dandan, Wu Hecheng 2017, 38(9): 21-29.  Abstract ( 529 )   With the rapid development of global economy, the market competition has become more and more diversified. For the company, technology innovation is a good way to achieve the long-term progress. We do research on the corporate behavior of technology adoption in the presence of the uncertainty of technology development. Considering the practical situation of the technology development, we introduce the exponential distribution to suppose the increment of technological level after every technology improvement and construct the decision-making model of the corporate technology adoption. Finally, we get some conclusions through simulation that (i) on the premise that the average increment of technology improvement after every technology improvement is identical, the enterprise will at least wait longer before the technology adoption compared with the situation of uniform distribution. (ii) the corporate shortest waiting time before technology adoption is positively affected by the times of technology improvement per unit time, the average increment of technology improvement after every technology improvement, the technology adoption cost, and is negatively affected by the discount rate and the corporate initial technological level. Related Articles | Metrics

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R&D investment, government subsidies and corporate value of strategic emerging industries Wu Xianyun, Chen Yan, Li Xiulan, Li Zuokui 2017, 38(9): 30-34.  Abstract ( 686 )   Theoretical studies have show that R&D investment has value relevance, and government subsidies has moderating effect on the relationship between R&D investment and corporate value. Based on data of 278 strategic emerging companies from 2010 to 2014, the paper investigates how subsidies affect R&D creating company value. Results show that R&D investment significantly reduces current financial performance and market value, while significantly improves financial performance lagged two periods and the enterprise value lagged three periods. The relationship between the lagged government subsidies and company value is significantly negative, while lagged government subsidies have additional effect of corporate financial performance . Related Articles | Metrics

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An analysis of knowledge valuation and organization respond of website-based crowdsourcing Wang Shu, Yin Fengchun 2017, 38(9): 35-42.  Abstract ( 477 )   Knowledge valuation and technology trade online is practical form of ‘crowd entrepreneurship, crowd innovation’. Facilitating consolidation of knowledge value through Crowdsourcing and organizational service, we specify the role of the mundane yet pervasive crowd intellectual capital and consider the value of organizational as a function of community diversity, performance indexes relevant to several famous Crowdsourcing websites at home and abroad. Our analyses of the theoretical framework highlight the unique and previously behavioral and relational drivers of knowledge valuation. Coping with complexity to "get the deal done"，this article show how activities of knowledge valuation can be the locus for changes to Cowdsourcing practices anchored in the level of organization respond，and provides a reference for website design and practices. Related Articles | Metrics

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A research on structure measurement of organizational emotional capability in Chinese S&T enterprises and its impact on innovation Sun Rui 2017, 38(9): 43-51.  Abstract ( 582 )   Related Articles | Metrics

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A study of the influencing factors of software and information enterprises’ R&D investment Zhang Zhenwei, Liu Yun 2017, 38(9): 52-59.  Abstract ( 577 )   Using Software and information service enterprises Cross section data and Tobit model, this paper tests the relationship of the R&D and influence factors, including enterprise scale, ownership type, government subsidy etc. We find that R&D investment and enterprise scale has a U-type relationship, there is no significant difference between the SOE and other ownership types enterprises in the R&D investment, age and profit rate have significant negative effect on the R&D, government subsidy is benefit to the R&D, export and capital intensity have no significant relationship with the R&D investment. Related Articles | Metrics

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An empirical study of the scientific research institutes’ value creation efficiency based on PP-SFA by taking the 12 CAS branches Li Baizhou , Dong Hengmin 2017, 38(9): 60-68.  Abstract ( 548 )   In virtue of the integration and interaction perspective to conduct a double-dimensional analysis of the value creation of scientific research institutes, this paper utilized projection pursuit and stochastic frontier model (PP-SFA) method to measure the value creation efficiency of 12 branches of Chinese Academy of Sciences, as well as analyzing its factors. It is indicated that value creation efficiency of the whole Chinese academy of sciences in 2009-2014 is low and its mean is 0.58, which could be improved significantly; The value creation output grows in step with the input of labour and capital, and the disparities between regions was marked in the value creation efficiency; Scientific research institutes of value creation efficiency and application direction and the interdisciplinary research has the positive correlation, and capital source structure has a negative impact on the value creation efficiency of scientific research institutes. Related Articles | Metrics

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An empirical study of the capture process of innovation resources in state key laboratories Nie Jikai , Wei Huai’an 2017, 38(9): 69-76.  Abstract ( 508 )   The article has built the SBIP model that is the capture process of innovation resources in state key labs used cross-cases comparison with theoretical integration, and combined with 110 valid questionnaires to make an empirical test for the SBIP model and its impact on the innovation resources capture performance in state key labs. The results showed that: 1) the SBIP model exists objectively, the contribution of internalizing phase, bridging phase, propagating phase, searching phase to the innovation resources capture performance in state key labs are ordinal descending; 2) resources-support is the obvious characteristic at the capture process of innovation resources in state key labs, and ability-support is weak; 3) implementation approaches for the capture process of innovation resources in state key labs present "plan-market" duality. Other empirical results also showed that: China’s state key labs are in the rapid growth period now; compared with allocating and integrating innovation resources, maximizing intakes is more practical significance for developing China’s state key labs. Related Articles | Metrics

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A study of the relationship between trust level, large stockholders involvement and independent innovation Xu Ting, Yang Jianjun，Sun Qinggang，Zhang Feng 2017, 38(9): 77-85.  Abstract ( 488 )   Based on the existing research, this paper explores how the large stockholders involvement affects independent innovation, and reveals the moderating effect of corporate culture. Besides, this paper discusses the effect of trust between large stockholders and managers on large stockholders involvement, and the effect of trust on independent innovation. This paper explores the relationships using data from 182 Chinese firms, and the empirical findings show that large stockholders involvement has a significant negative effect on independent innovation; the relationship between trust and large stockholders involvement is U-shaped; and large stockholders involvement intermediates the inverted U-shaped relationship between trust and independent innovation. The results also show that bureaucratic culture can weaken the negative effect between large stockholders involvement and independent innovation, and demonstrate the bureaucratic culture can play a positive role in firm’s innovation. Related Articles | Metrics

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Impact of performance orientation culture on innovation Yang Zhi, He Dan, Zhang Pengcheng 2017, 38(9): 86-96.  Abstract ( 605 )   Due to the lasting impact of low cost strategy, performance oriented culture prevails among Chinese firms, but whether it can promote innovation has been controversial. Based on the behavioral theory of the firm, our study analyzes the different influence of performance orientation culture on exploration and exploitation. Based on a questionnaire survey of 115 firms from high-tech industry clusters in Hubei Province, we find that performance orientation culture can promote the development of exploitation rather than exploration, but in the highly competitive market, performance orientation culture can bring exploration. The centralized structure of the enterprise will weaken the role of performance orientation culture in promoting innovation. This study is important for the understanding of the role of performance orientation culture in innovation behavior. Related Articles | Metrics

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A mixed mechanism model of organizational innovation climate influencing the employee innovation behavior Yan Liang, Zhang Zhihe 2017, 38(9): 97-105.  Abstract ( 841 )   This paper makes an empirical study of the mechanism of organizational innovation climate impacting on employee innovation behavior by means of a questionnaire. Using structural equation modeling based on the 280 valid employees sample data, the article get the results indicate that organizational innovation climate has positive effect on employee’s innovative behavior; perceived organizational support (POS) and organizational affective commitment (OAC) play the mediating role between organizational innovation climate and innovation behavior; pay for performance negatively moderates the relationship between organizational innovation climate and POS; moreover innovative self-efficacy positively moderates the relationship between AOC and innovation behavior. Research has the theoretical contribution for the mechanism between organizational innovation climate and innovation behavior, as well as gives references for organizations to improve employee’s innovative behaviors. Related Articles | Metrics

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Interlocking directorates, board functions and M&A performance Yan Guowan, Xie Guanghua 2017, 38(9): 106-115.  Abstract ( 517 )   M&A is an important approach to promote the development of creative economy and mixed ownership reform of state-owned enterprises. From the Board Functions Perspective, this paper explores the influence reputation mechanism of interlocking directorates on firms' M&A performance, using event study, BHAR model and nonparametric tests. We find that high reputation has a significant and positive effect on M&A performance mainly by improving advisory service of interlocking directorates and reducing asymmetric information. Furthermore, this effect is more significant when the target company's accounting information is more opaque or M&A behavior occurs in different places. However, in a company which has a serious agency problem, interlocking directorates can't play a supervisory role to improve the M&A performance. Even interlocking directorates that possess a low reputation may seize personal interests with management group and damage the value of M&As. The results of this paper show that improvement of the positive effect of interlocking directorates on M&A performance should be based on strengthening of director's reputation mechanism and improving corporate governance. Related Articles | Metrics

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Joint Venture Commitment, Control and Stock Market Returns Zhao Chao, Wang Tienan, Dong Xueyan 2017, 38(9): 116-123.  Abstract ( 467 )   This study aims to distinguish the effects of joint venture commitment on stock market returns according to the distribution of control based on transaction cost theory. Based on a sample of listed firms who formed joint ventures between 2009 and 2013, we examine the value effects of joint venture announcements using event study and regression analysis. Results show that stock market positively rewards joint venture announcements, and the abnormal return will increase with the aggregation of investment commitment. No significant relationship has been found on time commitment and stock returns. Further, joint ventures controlled by partner firms will be valued more by stock investors than shared control or focal firm control. We complement the existing knowledge of commitment and focal firm performance by including control as a conditional variable. This paper has great implications for managers on making investment and control decisions. Related Articles | Metrics

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Business model quality and high market performance 2017, 38(9): 124-131.  Abstract ( 578 )   Business model quality can be used to explain why some business models will succeed and others will fail. Based on the thought, 7 key quality attributes have been identified: core product's uniqueness, related products' complementarity, process differences, process certainty, process scalability, win-win nature and resources condition. The paper has proved that those key attributes do cause market performance and long running companies have more choices of the successful paths through the use of Fuzzy-set Qualitative Comparative Analysis (FsQCA). Each of the successful paths is in fact what some key quality attributes work together. The memberships values of successful paths can be used for business model evaluation and diagnosis Related Articles | Metrics

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Industry characteristics, factor endowment structure and technology progress path selection—An empirical test based on the equipment manufacturing industry in China Liu Dongdong , Dong Jingrong , Wang Yafei 2017, 38(9): 132-141.  Abstract ( 574 )   Based on the economic theory, such as factor endowment matching theory, structure theoretical analysis framework of technology progress path selection about coupling industry characteristics and regional factor endowment structure. Theoretically, single static technology progress path, dynamic technology progress path and R&D can achieve long-term stable economic growth increasingly in turn. Taking equipment manufacturing industry in China for research objects, our paper used the technology progress path selection model constructed by the modified production function to empirical research the different technical selection mode on technology progress; empirical research the industry characteristics and regional factor endowment structure effects on different technology selection model. The results showed that, the main source of technological progress is foreign technology introduction and imitation and foreign direct investment and imitation; domestic technology introduction and imitation and R&D have significant negative effects; industry characteristics and factor endowment structure can affect different technology selection mode, and having regional differences. Related Articles | Metrics

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A research on the effect of inclusive talent development model on innovative passion and behavior Fang Yangchun,Jia Dan,Chen Chaoying 2017, 38(9): 142-149.  Abstract ( 918 )   In order to realize the innovation driven development strategy, enterprises must adopt effective talent development model to improve the employees’ innovative passion and behavior. This paper integrated the Chinese traditional inclusive culture and the modern inclusive philosophy into the talent development process, explored the influence of inclusive talent development model on employees’ innovative behavior, and introduced innovative passion as an intermediary variable, and provided a theoretical basis for enterprise talent development and stimulating innovative behavior of employees. The study results showed that：(1) Inclusive talent development model is constituted by attaching great importance to the fair and win-win situation, being inclusive of creative opinions and failures, giving full play to the advantages of employees, and focusing on staff cultivation and talent diversity. Obsessive innovative passion and harmonious innovative passion are the main dimensions of innovative passion. (2) Inclusive talent development model has a positive relation with employees’ innovative passion and innovative behavior. “Attaching great importance to the fair and win-win situation”, “being inclusive of creative opinions and failures” and “giving full play to the advantages of employees” can significantly explain the obsessive innovative passion; “attaching great importance to the fair and win-win situation” and “focusing on staff cultivation” can significantly explain the harmonious innovative passion. Employees’ innovative behavior is significant affected by attaching great importance to the fair and win-win situation, giving full play to the advantages of employees and talent diversity. (3) Innovative passion is a mediator of “attaching great importance to the fair and win-win situation” acting on employees’ innovative behavior, but obsessive innovative passion is a mediator of “giving full play to the advantages of employees” acting on employees’ innovative behavior. Related Articles | Metrics

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A study of the customer engagement evolution in the network communities based on social preferences Ning Lianju， Liu Qian， Zhang Puning 2017, 38(9): 150-160.  Abstract ( 702 )   Customer engagement in the enterprise network communities depicts the durative value relationship of interaction and reciprocity among customers and between customers and enterprise in the mobile internet comprehensively. The study has built evolutionary game model of customer engagement in the enterprise network community for both the small-world networks and the scale-free networks respectively based on the theory of social preferences by the method of evolutionary game in complex networks, and applied the MATLAB_8.3 to simulating the driving mechanism of customer engagement. The study has found that social preferences played an important role in the evolution of customer engagement for both small-world networks and scale-free networks, stronger social preferences had more obvious impacts, and the evolution of customer engagement showed significant difference in two networks. The study has established the theoretical foundation for the evolution of user group policy and the income analysis in the mobile internet, furthermore putted forward the management policy suggestions of effective customer engagement management, such as build network community with deep relationship, set up the incentive system of social preferences, implement differentiated management of community and so on, to achieve the multi-stakeholder win-win situation within the enterprise platform. Related Articles | Metrics

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A spatial econometric evaluation on the policy effect of public procurement promoting technological innovation 2017, 38(9): 161-168.  Abstract ( 619 )    This study constructed a spatial econometric model and evaluated the policy effect of the public procurement promoting technological innovation based on the provincial panel data. These results shed light on that Chinese public procurement policy in the early stages of implementation not only failed to promote technological innovation, but significantly hindered the innovation. However, with the determination of independent innovation incentive target of Chinese public procurement policy, the policy effect has been improved, but so far the policy function of promoting independent innovation is still very limited. Finally, this study proposed to establish the policy system of government procurement for innovation by complying with the international rules, create a good environment for innovation by improving the design of the institution and reducing the rent-seeking behavior, strengthen innovation incentive oriented policy by optimizing the structure, with a view to provide the scientific basis for the improvement and perfection of future public procurement policy. Related Articles | Metrics