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20 December 2016, Volume 37 Issue 12 Previous Issue    Next Issue

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Study on Market Reaction to Announcements of Recognition of High&New-tech Enterprises 2016, 37(12): 1-9.  Abstract ( 905 )   On the background of the “Administrative Measures for the Recognition of High&New-tech Enterprises”released in 2008,this paper firstly investigates the market reaction of announcements of Chinese special recognition of high&new-tech enterprises by using event study and data of 869 high&new-tech listed companies.The results show that there are no significant evidence that can explain investors pricing higher to the recognition of high&new-tech enterprises of listed companies.Further tests find that,in the event window of announcements of recognition of high&new-tech enterprises,relative to control groups,small and mediam-sized listed companies, state-owned listed companies and newly-recognized listed companies after 2008 have worse market reaction.The results of this paper reveal that investors are short-sighted and stock market fails to support effectively companies to become independent innovation subject. Related Articles | Metrics

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Efficiency evaluation and intelligent diagnosis to the technological innovation of oilfield enterprises based on Malmquist-PNN Zhang Huiqin, Shang Tiantian, Shao Yunfei 2016, 37(12): 10-18.  Abstract ( 727 )   The technological innovation efficiency of 13 listed oil field enterprises from 2005 to 2012 has been evaluated integrally and dynamically by using the DEA-Malmquist index analysis method. And an intelligent diagnosis has been conducted to analyze the results of the technological innovation efficiency by using the probabilistic neural network (PNN). The results show that the Malmquist productivity efficiency of the 13 listed oil field enterprises from 2005 to 2012 could not meet the efficient frontier boundary. And the recession performance of technological innovation efficiency is mainly caused by the low scale efficiency. Intelligent diagnosis could help decision makers to estimate technical invalid decision-making units and the efficiency model of the decision-making units quickly and efficiently, and put forward strategies for targeted improvement according to different efficiency models. Related Articles | Metrics

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Measuring and comparing scientific performance of China in energy storage technology 2016, 37(12): 19-27.  Abstract ( 746 )   Energy storage technology is the key to lead us to move into the green and low carbon future. To comprehensively understand and position the scientific performance of China in energy storage technology field, we intended to combine bibliometric method with social network analysis techniques to comprehensively investigate and compare the scientific performance of China in energy storage technology from a multi-dimensional and longitudinal perspective. Results indicate scientific output grows significantly worldwide. The scientific output and influence of the USA are both in a superior position compared to the most other countries. China holds the most scientific output, however, its scientific influence is relatively insufficient. Although the USA and several European countries play significantly roles on internationally scientific collaboration, China exert great influence on internationally scientific collaboration in recent years. We found that phase change energy storage, superconducting magnetic energy storage, supercapacitor, lithium ion battery and energy storage materials are major research topics in this field. Related Articles | Metrics

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How Does Foreign R&D Affect Independent Innovation?Perspective：Model Construction & Empirical Analysis Based on the Spillover Path of Foreign R&D Zhu Ying, Sun Rui, Zhai Feng 2016, 37(12): 28-36.  Abstract ( 794 )   This paper breaks the research paradigm of foreign R&D input directly affects independent innovation output, proposing the spillover path that foreign innovation input directly affects the domestic innovation input and indirect impact on domestic innovation output, constructing innovative input、innovative output two-stage model and theoretical framework of joint analysis. From the dimensions of two kinds of innovation factors capital and labor, researching on the influence of foreign enterprises innovation input on the domestic enterprises independent innovation. Based on a panel data of eleven sub- industries of China’s high-tech industry from 2004 to 2012, showing that foreign innovation input has both inhibitory effect and promoting effect on independent innovation，foreign innovation capital input will restrain the innovation output of domestic，foreign innovation labor input will promote the innovation output of domestic. Related Articles | Metrics

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An empirical research on process innovation mechanism：The evidence from China’s automobile industry 2016, 37(12): 37-45.  Abstract ( 754 )   Existing research literature on product innovation is far more than that on process innovation, especially on its mechanism. Based on literature research, expert interviews and process practice of automobile companies, this paper constructs a theoretical model of process innovation, raises several hypothesis, and use structural equation model to test these hypotheses. This study finds that decision-making mechanism has positive effects on motive mechanism, organizational mechanism, and incentive mechanism of process innovation, but doesn’t show a direct influence on process innovation capacity both motive mechanism and organizational mechanism have a direct impact on process innovation capacity while the effect of motive mechanism is inferior to the other. The two hypotheses of positive effects of organizational mechanism to incentive mechanism and that of incentive mechanism to process innovation capacity has failed to be tested.. Not only does this paper help enrich technology innovation research, but also it draw enterprises’ and government’s much more attention to process innovation. Related Articles | Metrics

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Can Chinese ChiNext Stock Market Recognize Innovation Quality? 2016, 37(12): 46-54.  Abstract ( 821 )   Taking the samples of ChiNext listed firms, it investigates whether Chinese ChiNext Stock Market can recognize innovation quality, which is measured by the number of patent authorization of different types based on the analysis of the relationship between corporates’ innovative activities and corporates’ performance. The empirical result shows that: (1) different types of patents all have positive effect on corporate financial performance. Patent of innovation has a more significant effect than patent of utility does while patent of appearance has no significant effect, which means that innovation quality can reflect corporate operating performance. (2) Patent of innovation has positive effect on corporates’ Book-to-Market ratio while other two types of patents do not. This implies that Chinese ChiNext Stock Market can to some extent recognize innovation quality——the market can effectively recognize the incremental information of the patent of innovation, but cannot recognize the minor information difference of the other two types of patents. Related Articles | Metrics

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R&D organization structure and innovation performance: the moderating effect of resources 2016, 37(12): 55-64.  Abstract ( 963 )   There are no consistent arguments in existed literatures whether the centralized or decentralized R&D organization structure promotes firm’s technological innovation performance. With the knowledge-based view of the firm and organizational economics,this paper examines the relationship between R&D organization structure and innovation performance and conducts an empirical study based on 362 hi-tech listed firms in china. Furthermore, we introduce two variables of organizational slack and diversification, which can reflect the status of resources composed of resource’s affluence and resource’s diversity, and explore their moderating effects on the relationship between R&D organization structure and innovation performance using Variance analysis and regression analysis. The results show that decentralized R&D structure boosts firm’s innovation performance irrespective of differences among industries. Furthermore, the relationship is positively moderated by unabsorbed organizational slack and product diversification. The results imply that Chinese firms prefer to improve the firm’s innovation performance using the decentralized structure with exploration and expansive sourcing which can be explained by knowledge-based view of the firm. To a great extent, the effect of such R&D structure is moderated by resources in the firm. Related Articles | Metrics

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A comparative study of enterprise knowledge creation based on C2C and B2C virtual brand community 2016, 37(12): 65-72.  Abstract ( 893 )   With the development of the Internet, stimulating users knowledge creation that is in favor of enterprises in virtual brand communities has become the key for enterprise to implement innovative strategies in order to respond to dynamic market conditions.In this paper, we have built a theoretical model, which can motivate enterprise knowledge creation, based on the perspective of users exploratory/exploitative learning and ideation portfolio management in C2C and B2C virtual brand communities.Our Empirical findings are as follows: C2C and B2C virtual brand communities have variant impact on users exploratory / exploitative learning. With respect to B2C virtual brand communities that are beneficial to users exploitative learning, C2C virtual brand communities tend to inspire users exploratory learning, which is more conducive to stimulate users knowledge creation capability.However, users knowledge creation capability has no significant effect on generating enterprises knowledge creations. Furthermore, users ideation portfolio management plays a mediating role between them and the influence is positive and significant.This study has put forward valuable revelations for companies to carry out the strategy of user knowledge management innovation. Related Articles | Metrics

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An empirical study based on Chinese provincial panel data Yang Ruoyu 2016, 37(12): 73-81.  Abstract ( 868 )   Based on 30 provincial data from 2000 to 2009, and by using STATA, the relation between market competition, government R&D input, intellectual property rights protection and regional innovation performance in China was investigated in the paper. This study found out that: (1) reducing local protection is positively related to regional innovation performance but the effect of non-state-owned economy development degree is not significant. (2) From the point of government behavior, the protection of intellectual property rights will improve regional innovation performance, but R&D investment will have a negative effect on regional innovation performance. This paper analyzes the reasons and puts forward countermeasures and suggestions to improve regional innovation performance. Related Articles | Metrics

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The Influence Factors Analysis of Provincial Household Energy Consumption----Based on Spatial Econometric Perspective Sun Han, Shen Jun, Peng Lisi, Nie Feifei, Yu Shiwei 2016, 37(12): 82-91.  Abstract ( 874 )   Abstract: Based on Spatial Econometric Perspective，this paper takes Chinese 30 provinces as the research object and makes a spatial econometric analysis of factors and its influence on provincial resident energy consumption. The research results show that: 1.There is a significant spatial auto correlation in Chinese provincial residential energy consumption and most of residential energy consumption in space showed high - high and low - low concentration;2. The population scale is the most important factor influencing residential energy consumption and controlling the growth speed of urban population scale is the key to reduce the residential energy consumption;3. From the current effect, the direct and total effects of variables on residential energy consumption are significantly positive. Therefore, reducing the energy consumption and carbon emissions need to control the growth rate of population scale, reduce the energy consumption intensity, guide and improve the residents' consumption structure. Related Articles | Metrics

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A study of the relationship among entrepreneurial strategic orientation, vertical dyad differences of top management team and entrepreneurial performance 2016, 37(12): 92-104.  Abstract ( 1031 )   Based on the perspectives of resource allocation, this article integrates entrepreneurial strategic orientation (ESO), top management team (TMT) vertical dyad differences and entrepreneurial performance into a united theoretical framework, explores the acting mechanisms and influencing models among the variables involved, and tests the related hypotheses by using the sample from the listed companies of the China's Small and Medium-sized Enterprises Board for 2006-2010 period. Cluster analysis results indicate that there are three different dimensions for ESO, including “internal R&D”, “external investment” and “internal R&D+ external investment”. However, the majority of the sample companies prefers to the second dimension. Hierarchical regression analysis results show that ESO has different impacts on growth performance and profitability, but the grouping regressive results further reveal that the first dimension of ESO have no significant effect on growth performance; TMT vertical dyad differences are significantly correlated with growth performance and profitability on the whole, but the vertical dyad differences of age and tenure only give rise to partially moderating effect. The findings of this study have positive managerial implications for cultivating top management team, optimizing corporate governance mechanisms and emphasizing the direction of R&D. Related Articles | Metrics

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An empirical study of the relationship between internationalizing motivations, experiences and entry mode 2016, 37(12): 105-113.  Abstract ( 829 )   Based on the springboard perspective, this paper focuses on Chinese private corporations with FDI and analyzes the effects of internationalization motivations (market-seeking, strategic asset-seeking and institution-seeking) on entry mode, as well as the moderating effects of founder's international experience between motivations and entry mode. The results show that: Although springboard perspective is supported upon market-seeking, it is negatively supported upon institution-seeking, and the analysis on strategic asset-seeking gets no support to springboard perspective; unlike springboard perspective, the international experience of founders has negative effects on the level of entry mode, and weakens the effects of market-seeking on entry mode. Research and practical implications are discussed. Related Articles | Metrics

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Effect of Team member's Positive Affectivity on Job Satisfaction Zhu Yue, Jin Yanghua, Ye Yanhua 2016, 37(12): 114-121.  Abstract ( 957 )   Abstract: With the progress of teamwork study, team exchanges, such as team member exchange and leader-member exchange relationship became the focus of this area. This study tested the role of team exchange variables on the relationship between team member’s positive affectivity and job satisfaction, and analyzed the moderating effects of reciprocal wariness. Results demonstrated that team exchanges partly mediated the relationship between positive affectivity and job satisfaction. Reciprocal wariness moderated the mediated effects among team exchanges, positive affectivity, and job satisfaction. Implications for the future study were also discussed. Related Articles | Metrics

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Corporate control configuration, industry competition and R&D investment intensity 2016, 37(12): 122-131.  Abstract ( 707 )   This paper selects listed companies R&D investment data from 2007 to 2013, uses Univariate grouped difference test and multivariate regression analysis to study the influence of corporate control and industry competition on R&D intensity. The study found that the nation as major shareholder, legal entity as major shareholder, ownership concentration, nation as actual controller, the separation between ownership and control has a negative impact on the company’s R&D intensity. and the equity balance, institutional ownership has a positive impact on the company's R&D investment intensity. and the major shareholder’s equity has a weakly nonlinear effect on R&D intensity. The study also found that the company's market share has a negative impact on the R&D intensity, and the industry competition has a positive effect on R&D intensity. and from the interactive perspective, industry competition can reduce the negative impact of the nation as major shareholder or as actual controller of company on R&D intensity, while industry competition and equity balances has a substitute impact on R&D intensity. Related Articles | Metrics

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Dynamic coupling effect of Internet enterprise's debt financing on technical efficiency 2016, 37(12): 132-143.  Abstract ( 784 )   The governance effect of corporate debt financing is uncertain due to the differences in internal capital allocation rights structure. This paper studies the nonlinear problem of governance effect of debt financing in Internet listing Corporations from the perspective of total factor productivity. Empirical study results show that: (1) The effect of the overall level of debt financing on TFP has a certain stage and condition heterogeneity characteristic and it's closely related to the heterogeneity governance effect of Corporations' internal structure. (2) There exist the structure coupling problem of debt term structure, credit structure and debt provided financing rate with the level of technological progress, scale efficiency. And debt financing structure highlights the conditions coupling problem with technical efficiency and TFP (3) The problem of debt financing structural coupling reflects the problem that Internet City company heavy technical efficiency and light on the growth of technological progress. Related Articles | Metrics

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Dual-Channel Strategy of Brand Manufacturers Considering the Threat of Counterfeits 2016, 37(12): 144-153.  Abstract ( 861 )   In this paper, we study the two-stage supply chain system consisting of one manufacturer and one traditional retailer. The manufacturer has the choice of adding electronic direct channel. However, the electronic channel has the risk of counterfeits. Stackelberg game method is used in this paper to analyze the channel strategy for brand goods manufacturer and the effects on the traditional retailer, furthermore, the changes of consumer surplus and social welfare. The results show that, only when the quality and market permeability of counterfeits are within a certain range, the brand goods manufacturer tends to add an electronic channel and operate in dual-channel to increase profits; but single channel is much better for brand goods manufacturer when the quality and market permeability of counterfeits beyond the scope. Nevertheless, when the counterfeits within the range，the consumer surplus and social welfare increase. More importantly, counterfeits in electronic channel aggravate the channel conflict. It is another important effect on damaging the traditional retailer's profits which is caused by the electronic direct channel. Related Articles | Metrics

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The Form and Structure of the Norm of the Academic Community Based on the Constraint of the Dual Value Goal Guan Xiaoyong 2016, 37(12): 154-161.  Abstract ( 696 )   With "scientific activities" of the Merton era to the modern "academic activities" which has the characteristics of great science, multi objectives and social characteristics, a scientific community norm system including but not limited to Merton's scientific norms is being formed. However, the theory of science norms of Merton School of thought, due to the limitations of the cognitive framework of ethics to the modern academic community norm system, is still a lack of basic explanatory power. The theoretical study breaking Merton's theoretical framework also has not been found in the open literature. In view of this, On the basis of the new cognitive perspective of the contractual nature of the norm, the systematic observation of the academic community norm, the constraint of the value goals of science and society of modern academic activities, through the analysis of the participator, the goal of the game playing, the generation mechanism, the coordination relationship, the functional differences and the system evolution of the "contract" in the modern academic action, this study reveals that academic community norms is a system to take the value goals of science and society of modern academic action as the highest standards, statically with three basic forms and structures—— hierarchy, function and subject and dynamically with the evolutionary orderliness with the development of the academic action and the environmental changes while maintaining the consistency of internal logic of the system. Related Articles | Metrics

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Mechanism and evaluation of pedestrian stampede accidents in public places of cities --A level influence model based on event system theory Yu Fan, Song Yinghua, Huo Feizhou, Fang Danhui 2016, 37(12): 162-169.  Abstract ( 883 )   There are a growing number of crowded stampede events all over the world in recent years, which have seriously threaten the healthy development of modern cities. Therefor this paper has recorded crowded stampede cases for nearly 16 years. Basing on the event system theory, and combining with the characteristics of the event to analyzes the mechanism of the accidents, establishing the mechanism figure of stampede events, then put up the prevention and the methods of risk evaluation for the model of events. The stampede cases are happened under the event with strength special time and great influence to the organization. We should take consideration of event strength, event space, event time in the daily work and do more effort in the three aspects. Related Articles | Metrics