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A research on evaluation of high-tech industry innovation ecosystems based on innovation policies Liu Lanjian, Xiang Lilin, Xia Qing 2020, 41(5): 1-10.  Abstract ( 252 )   At present, the theoretical research on innovation ecosystem (innovation 3.0) has made some achievements. It is urgent for empirical research to further explore and test the ideas put forward in the theoretical research. It is also an effective measure to guide the construction of innovation ecosystem and optimize the third generation innovation policy. Starting from the innovation policy, this paper studies the ideas, methods and indicators of innovation ecosystem evaluation, and constructs an innovation ecosystem evaluation index system including three dimensions: dynamic evolution, sustainable innovation and openness, by selecting the data of high-tech industry in China from 2007 to 2016 for empirical evaluation. The findings are as follows: first, the innovation ecosystem of China′s high-tech industry has a large growth space, which also proves that the current innovation policy needs to be transformed. Second, in recent years, China′s innovation policies have achieved good results in promoting the population structure of high-tech industries, but at present, the collaborative innovation among populations is still lack of power. Third, we have made some achievements in promoting the transformation of scientific and technological achievements, but we still need to adjust policies to improve the proportion of innovation input and output, and we should pursue more extensive system openness in the future. Fourth, innovation policy should focus on promoting the coordinated development of innovation ecosystem in dynamic evolution, sustainable innovation and openness, so as to avoid the abnormal development of innovation ecosystem caused by excessive guidance. According to the results of empirical analysis, this paper puts forward the following policy recommendations for the development of innovation ecosystem of high-tech industry. First, continue to give play to the guiding role of the government and accelerate the transformation to the third generation innovation policy. Pay attention to the coordinated development of the dynamic evolution, sustainable innovation and system openness of the innovation ecosystem of high-tech industry, gradually form the innovation policy system conducive to the development of the ecosystem of high-tech industry, and guide the reasonable development of the industry. Second, in the environmental policy, we should focus on promoting the cooperation policy of industry, university and research, increase the power for the cooperation of innovation population, build a policy system conducive to the overall competitiveness of innovation ecosystem, distinguish the functions and tasks of basic research, applied research, development research and other links, so that the contributions of each link are mutually supported and the division of labor is relatively clear, which cannot simply require all of the scientific research is application-oriented.  Third, in the supply side policy, we should integrate scientific and technological resources, continue to promote the transformation of innovative achievements, enhance the protection of innovative achievements, continue to support the development of scientific and technological intermediaries, and create a good environment for the operation of innovation ecosystem. Fourth, in the demand side policy, we should focus on adjusting the investment structure and building a multi-channel and multi-level investment mechanism for high-tech industry. Financial support should reflect the dominant position of enterprises in technological innovation. In addition to the advantages of large-scale high-tech enterprises, it should also pay attention to small and medium-sized enterprises with development potential, and provide them with certain financing platform and policy welfare. Related Articles | Metrics

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Reviewing the relationship between internal R&D and external technology acquisition: An analysis based on dynamic perspective Chen Chaoyue, Xu Zhi 2020, 41(5): 11-20.  Abstract ( 218 )    With the increasing complexity of technology and the profound changes in the pattern of innovation resource allocation, it is difficult for enterprises to rely solely on internal resources for R&D innovation. The traditional closed innovation has gradually turned to open innovation, and enterprises have begun to seek external knowledge sources for R&D innovation and gain innovation benefits. Although the external technology acquisition can integrate market resources and improve efficiency of the new product in a short period of time, it may also encroach on the benefits brought by external technology acquisition due to the increase of search cost, information cost and supervision cost. Excessive reliance on external technology is likely to cause the lack of core competitiveness. Therefore, enterprises need to rationally allocate R&D boundaries when formulating technology acquisition strategies, and grasp the balance between internal R&D and external technology acquisition to ensure that external technology acquisition achieves optimal innovation performance. Numerous studies have focused on exploring complementary and alternative relationships between internal R&D and external technology acquisition, but have reached conflicting conclusions. Based on the current relevant research, there still remains research gaps. Firstly, the existing research explores the relationship between the two technology acquisition activities from a static perspective, without consideration of time factors. Actually, the two types of innovation activities have essential differences. It takes a long time to obtain results through internal R&D, while the external technology acquisition cycle is much shorter. Therefore, the time when the two types of innovation activities have the best impact on the innovation performance of the enterprise may be different. Secondly, from the perspective of classification, the existing research only makes a simple dichotomy for internal R&D and external technology acquisition, and lacks further classification of technology acquisition mode. According to the nature difference of the partners, the technology acquisition targets are different, so the impact mechanism on the innovation performance is different. It is necessary to further explore the impact of different types of external technology acquisition models on the innovation performance. Based on the associations between enterprises and organizations of different natures, external technology acquisition can be divided into science-based external technology acquisition and market-based technology acquisition. Science-based external technology acquisition refers to the joint with universities and research institutions, and conducts basic science. Market-based external technology acquisition refers to acquiring technology in the market through R&D cooperation with upstream and downstream enterprises, consumers, and competitors, or through technology introduction and purchase. Based on the above research gaps, this paper explores the impact of internal R&D and external technology acquisition from a dynamic perspective, and analyzes the influence mechanism of different technology acquisition modes on innovation performance and the relationship with internal R&D. We use the data of high-tech private enterprises in Guangdong Province to conduct empirical research on the above problems.The data in this paper comes from the statistical data of the enterprise R&D activities approved by the Guangdong Provincial Department of Science and Technology for the subsidy after the enterprise′s R&D investment. The specific data comes from the financial audit report of the declared enterprise and the table of large and medium-sized industrial enterprises′ scientific and technological projects (B107- 1) and table of science and technology activities of large and medium-sized industrial enterprises (B107-2) that have been reviewed by the relevant management departments. As the empirical data of this paper selects the financial data and R&D data of the enterprise reviewed by relevant departments, the authenticity of the empirical data is guaranteed. After eliminating the invalid data, the sample data in the paper was finally established as: 499 high-tech private enterprises, each sample collected data from 2010 to 2013, and a total of 1996 observations in four years, which constitute the parallel panel data. The fixed effect model was used for analysis and the following conclusions were drawn. The impact of internal R&D and external technology acquisition on the dynamic impact of corporate patent applications and new product output values is different. Internal R&D has a role in patent applications in the current period and is sustainable. External technology acquisition has a positive impact on the lag phase and a negative impact over time. Further decomposition, science-based external technology acquisition has a significant positive impact and persistence in the current period, while market-based external technology acquisition has no significant impact. For the output value of new products, internal R&D has a significant negative impact in the current period. As time goes from negative to positive, it is the best in one year. External technology acquisitions have a role in the current period and gradually diminish over time. The science-based external technology acquisition lags the best effect in the first phase, and the market-based external technology acquisition plays a role in the current period and changes to a negative influence with time. There is no simple complement or substitute relationship between internal R&D and external technology acquisition, and different time for patent application and new product output value to be optimal. The market-based external technology acquisition rate has an inverted U-shaped relationship with the patent application, indicating that the market-based external technology has the optimal value for the enterprise patent application. The non-symmetric external technology acquisition rate and the new product output value shows an inverted U-shaped relationship. The current external technology acquisition and the internal R&D on the lag phase have the best impact on the new product output value. The interaction between internal R&D expenditures and different modes of external technology acquisition does not significantly affect the company′s patent applications and new product output. Related Articles | Metrics

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A research on the synergistic effect of factors influencing the innovation output of maker space——A fsQCA study based on the spatial data of crowd-innovating spaces in 31 provinces and cities Huang Zhongyi, Zhao Hua,Xu Ya′nan 2020, 41(5): 21-31.  Abstract ( 252 )    In the past five years, the number of China′s maker space has achieved exponential growth. More than 5,000 maker spaces in China have become an important emerging force in the science and technology service industry after enterprise accelerators and science and technology business incubators, and become an important part of the innovation and entrepreneurship ecosystem in the entrepreneurial society. However, what is not matched with the rapid development of the number is that the overall innovation efficiency level of maker space is low, how to improve its innovation output has become an important issue in the practice of maker space innovation driving strategy. Few existing research literature study innovation output influence factors.Because of the limitation of methods those paper primary focus on the "net effect" of individual factors, or at most three variables of regulating effect or mediation effect, and ignore the regional atmosphere factors such as the scale of regional maker space and the degree of regional intellectual property protection，lacking of a consistent framework of influencing factors based on authoritative theory so that can′t fully explain the complexity of cause and effect between various factors and their "synergistic effect", not to mention answer the question of "how to improve the innovation output of the maker space" from the perspective of system integration. But as innovation and entrepreneurship platform, maker space has ecosystem attributes and its innovation output is affected by multiple factors such as government, regional environment and regional environmental atmosphere, and the service behavior of the maker space. These factors have complex and nonlinear interaction relationship. Answer the question of "how to improve the innovation output of the maker space" need to adopt the method of "integration synergy" to study the interactive relations between the influencing factors. Fuzzy-Set Qualitative Comparative Analysis (fsQCA) is an effective method to explore "synergistic effect" and "interactive relationship", and has been widely used in various fields of organization management in recent years. Based on this, this article adopts fsQCA method to carry out system integration research, to answer the question of why the innovation output of the maker space of some provinces and cities is high, so as to make up for the shortage of existing literature. Based on the view of system integration, This article selects the government′s subsidy policy, intellectual property protection, the size of the maker space of every area as well as all the platform of economic service, social services, capability services as the influence factors for the innovation output, building an analysis model of influencing factors of innovation output, takes the maker spaces of 31 provinces and cities as the case, and applies the fsQCA method to study the collaborative model of influencing factors of innovation output of maker space, and then explores the incubation model of innovation output to reveal the guiding factors and driving forces of high innovation output in mass innovation space and enrich the research literature on innovation output from the perspective of incubation system and structure, and provides theoretical and policy suggestions for the practice of innovation driven incubation in mass innovation space. The results showed that:(1) The innovation output of maker space has the characteristics of "multiple concurrency" and "the same route". There are four combinations of government policy and the combination of platform services can lead to the maker space high innovation output, and can be further summarized as "government-driven" and "space-driven" type two kinds of incubation model. The "government-driven" type is mainly rely on government subsidy and intellectual property protection to improve innovation output; The "space-driven" type is mainly rely on capacity service and economic service assisted to improve innovation output, among which the space-driven model is the main model of China′s maker spaces to achieve high innovation output. This discovery is a new attempt to explain the innovation output of maker space from the system integration perspective, which is also a rich and complementary research result of innovation output based on contingency perspective from the perspective of structure-performance relationship. Therefore, to some extent, it promotes the transformation of innovation output research from contingency perspective to holistic and structural perspective; (2) There is a complicated substitution or/and complementary relationship among the influencing factors, and there is a substitution relationship between the government subsidy and the services of the platform under certain conditions. It deepens the research on the interaction between the influencing factors of innovation output from multiple perspectives and has great benefit to the maker space to carry out targeted incubation services based on its own advantages to enhance innovation output; (3) Combined with the existing theoretical explanation and the typical case analysis, this article puts forward three research propositions which have certain potential and can be tested. The first proposition is under the circumstance that the incubation behavior of maker space is not strong enough, the government′s strengthening of subsidies and intellectual property rights protection is crucial to the innovation output of maker space. The second proposition is in the case of limited government support, the capacity services and economic services of the regional maker space are crucial to the innovation output. The third proposition is there is a complex alternative and complementary relationship among the innovation influencing factors of maker space. Under certain conditions, there is an alternative relationship between the government subsidy and the incubation service of maker space. This article is the first to introduce the QCA method into the research on the impact of innovation incubation, which provides a holistic perspective for understanding and explaining the causal relationship among the factors affecting innovation output. It makes up for the lack of completeness of the existing literature on the factors affecting the innovation output of maker space and makes the system elements of the innovation output of maker space more complete. In addition, the substitution or complementary relationship between the two kinds of influencing factors is analyzed, thus deepening the interaction between multiple theoretical explanations. The research results enriched the literature on influencing factors of innovation output from the perspective of systematic collaboration, and provided empirical guidance for the innovation incubation practice and policy making of maker space. Related Articles | Metrics

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An empirical study on the effect of digital economy on real economy Jiang Song, Sun Yuxin 2020, 41(5): 32-39.  Abstract ( 1796 )    The main approaches of the supply-side structural reform are to invigorate the digital economy and to realize the integrated development of the digital economy and the real economy. Taking advantage of digital technology, the real economy boosts yields, promotes efficiency, and expands the connotation of the digital economy. However, the digital economy energizing effect presents a typical "reverse integration" path. Judging from the actual operation and grass-root feedback, the tertiary industry such as finance, transportation, accommodation, and catering makes changes first. The transformation of the real economy is still in the "transition stage", deserving long-term observation. Besides, the integration of the digital economy and the exertion of the transformation effect need to be supported by preconditions, which are closely related to the level of industrialization and the stage of economic development. Due to China′s industrialization has not been completed yet, the digital economy is confronted with the dual tasks and severe challenges that require the digital economy to catch up with the industrialization process and synchronize the digital opportunities. As a result, an increasingly serious digital divide has emerged: many real economy enterprises are seldomly aware that the data resources generated within the business operation life cycle can promote the production and operation efficiency, and reduce manufacturing costs. In fact, without the participation of the real economy, the digital economy is a brittle bubble. To this end, at the special digital economy meeting of the G20 Osaka Summit in 2019, General Secretary Xi Jinping, the Central Committee of the Communist Party of China, accentuated that "we are ought to promote the inclusiveness of digital economy, advance integrated development, and strengthen the construction of digital infrastructure to facilitate interconnectivity". To implement the instructions of General Secretary Xi thoroughly and realize the strategic goals of integrated development, it is essential to systematically evaluate the interrelationship between the digital economy and the real economy as well as their mechanism. So, has China′s digital economy effectively supported the development of China′s real economy? Will the rapid iteration of the digital economy influence the development of the real economy? Can China′s development level of the real economy constrain the transformation effects of the digital economy? With this background and scientific issues, based on the cross-section data of 290 cities in China, this article utilized the weighted least squares, quantile regression, and cross-section threshold regression to demonstrate the overall effect, conditionality, and stage characteristics of the digital economy′s impact on the digital economy. It is found that, at the overall level, the digital economy has a significantly negative impact on the real economy, producing a certain degree of "crowding out effect". In terms of conditionality, under different conditions of the real economy, the "crowding out effect" is constant, but its degree will diminish marginally. In terms of stage characteristics, the impact of the digital economy presents an inverted "U" shape. Before crossing the critical value, it is expressed as a "promotion effect", however, after crossing the critical value, it is shown as a "crowding out effect". Only in the latter condition will the digital economy restrict the development of the real economy. Combined with the analysis results from the overall level, it is found that the current development level of the digital economy in China has crossed the "critical value", and there is a disconnection between the digital economy and the real economy. The auxiliary spatial difference analysis shows that the impact of the digital economy on the real economy in the eastern regions is manifested as "crowding out effect", but that impact in the central and western regions is shown as "promotion effect". Based on the empirical conclusions, this article puts forward the following recommendations. First, accelerate the implementation of the "Internet plus initiative" strategy and reform the growth model of the real economy. The digital economy has a considerable promotion effect on the real economy before crossing the critical value. Therefore, the real economy must accelerate the implementation of the "Internet plus initiative" strategy, which will promote collective reform in the fields of manufacturing, marketing services, and financing, give full play to the role of the digital economy in reshaping and transforming the real economy, and empower the new development of the real economy continuously. Second, strengthen the endogenous development capability of the real economy to cope with the impact of the digital economy. In the coordinated development with the digital economy, we need to proactively adapt to the megatrends of the digital economy, and gradually enhance our ability to adapt, integrate and coexist with it. Third, deepen the supply-side structural reforms to expedite the development of the real economy. Giving full play to the role of fiscal and financial policies in guiding and safeguarding the real economy. Meanwhile, by overall planning and rational distribution to establish regional cooperation mechanisms, the real economy will be enhanced. In general, this paper creatively links the digital economy with the real economy and demonstrates the characteristics and impact of the digital economy on the real economy from multiple dimensions. Based on the empirical evidence of 290 cities in China, this paper re-examines the relationship between the digital economy and the real economy and reviews its influence mechanism from the perspective of quantitative and empirical analysis, drawing many beneficent conclusions. On the one hand, it can provide direct evidence for the opinions involved in the qualitative research in the academic circle. On the other hand, it can also effectively speak for the controversial opinions. From this point of view, this paper is a powerful supplement to the existing results, which is also a major feature of this paper compared with the existing results. At the same time, in the aspect of the empirical analysis method, the weighted least square method, quantile regression method and cross-section threshold model used in this paper have a great effect on enhancing the credibility of research conclusions. In particular, the cross-section threshold model is a frontier approach in cross-section data analysis, which is also conducive to forming a new view and new cognition of the impact of the digital economy on the real economy. Through the application of multiple methods, this paper demonstrates that the points of view examined in this paper are progressive. This is also the characteristic of this study in terms of methods. However, due to the data acquisition, the sample size needs to be further expanded, and the related panel data model cannot be introduced. These problems are also the focus and direction of the breakthrough in the new era. Related Articles | Metrics

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A research on the relationship between overcapacity, idle cost and enterprise innovation Hu Chuan, Guo Linying 2020, 41(5): 40-46.  Abstract ( 222 )   Since China government proposed the Supply-side Structural Reform in 2015, the contradiction about overcapacity has become one of the key contradictions hindering the development of current economy. The problems of low efficiency of economy, waste of all kinds of resources, and increased risks caused by overcapacity have seriously disrupted the normal operation of the national economy. It also brings severe challenges to the sustainable and healthy development of enterprises in China. Innovation, as the key point to the Supply-side Structural Reform, is one of the important way to resolve overcapacity, and it is also an important driving factor to make sure the sustainable and stable development of enterprises in China. The enterprise innovation determines the development direction, scale, and speed of the enterprise，and it is the cornerstone of the development of the enterprise, a necessary condition for the enterprise to seek for vitality and retain its survive, and an important element for market economy to keep its active. Therefore, solving the problem of overcapacity and realizing enterprise innovation are of great significance to the transition of China′s economy from a stage of high-speed growth to the stage of a high-quality development. How to improve the capacity utilization and how to improve the innovation ability of the enterprise are important issues that needs to be talked and solved to further stimulate the vitality of the market participant and improve the quality of the development of national economy. On this basis, we think about the different reaction mechanisms of the enterprise in the face of overcapacity. Some enterprises have to choose failure, some choose the enterprise transformation, or some choose to suppress the bad impact of overcapacity by improving the innovation capacity of the enterprise. In sum, we regard overcapacity in the enterprise as a short-term stimulus, and explore the impact of overcapacity on the enterprise innovation, including the causes, mechanisms, effects, and results. Under the guidance of this research purpose, we review literatures about the causes of overcapacity, the measurement of overcapacity, and the relationship between overcapacity and the enterprise innovation. We learn experience from previous literatures, then explore the impact of overcapacity on the enterprise innovation. On the basis of the impact mechanism, we put forward the possibility of overcapacity as an internal stimulus in the enterprise, which in turn forces the enterprise to improve innovation ability. When a certain degree of overcapacity occurs in an enterprise, the enterprise has to take innovation into account in order to alleviate the pressure on survival, promote the enterprise development, and break through the current development dilemma. Next, we explore the role of idle costs, as a mediating variable, in the impact of overcapacity on the enterprise innovation, which means that overcapacity causes idle costs, and idle costs affect the enterprise innovation. Further, we focus on the moderating effect of the proportion of state-owned shares, and explore the obvious advantages of endowment and political resources from the proportion of state-owned shares, which cause that the impact of overcapacity on the enterprise innovation changes with the proportion of state-owned shares. On this basis, we propose different hypotheses for the main effect, the mediating effect, and the moderating effect according to different research contents. In order to test these hypotheses, we focus on the industries with overcapacity that mentioned in all kinds of researches, news reports, and official announcements. Based on the data from the annual report of listed companies in mentioned industries from 2014 to 2015, we firstly select the current period of the increase of accumulated depreciation of fixed assets, total cash outflows, and the number of employees as the input indicators of enterprises, and select the current period of operating incomes as the output indicator at the micro level, using the method of Data Envelopment Analysis (DEA) to measure the annual capacity utilization of all sample enterprises through the model of Variable Return to Scale (VRS). Then, we take the capacity utilization of the enterprise as the explanatory variable, the current number of patent applications of the enterprise representing the level of the enterprise innovation as the explained variable, the research and development investment and the asset of the enterprise as important control variables, the idle cost as the mediating variable, and the proportion of state-owned shares as the moderating variable to set up econometric models. The Ordinary Least Squares (OLS) is used to test whether overcapacity could be an effective stimulus to motivate the enterprise to innovate. At the same time, the mediating effect of idle costs and the moderating effect of state-owned shares were tested. Based on the empirical test results, we can conclude that the overcapacity of the enterprise can effectively stimulate the development of the enterprise innovation to a certain extent. The overcapacity of the enterprise can be used as a stimulus for the internal development of the enterprise and induce the enterprise to carry out innovative activities. In addition, the overcapacity of the enterprise does not directly and totally affect the enterprise innovation, and its incentive for the enterprise innovation is partly achieved through the idle cost as the mediating variable. In other words, excessive overcapacity results in a large number of idle costs. On the basis of overcapacity and idle costs, the enterprise has to consider innovation in order to develop healthily and stably, and breaks through the current development dilemma by improving the enterprise innovation ability. Obviously, the idle cost plays a mediate role in the relationship between overcapacity and the enterprise innovation. Further, the proportion of state-owned shares, as an important moderator, has played an important role in stimulating innovation, which means that the higher the proportion of state-owned shares in the enterprise, the more capital and political resources the enterprise has, so the enterprise has sufficient power to support innovation activities. According to above conclusions, we put forward corresponding suggestions of development and innovation in terms of the current relationship between overcapacity and the enterprise innovation in China, the reduction of state-owned shares, and the policy arrangements on overcapacity and the enterprise innovation implemented by government. Related Articles | Metrics

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Evolution of the IURU collaborative innovation of leading enterprises with modularized embedding: Theory construction and case study Wang Haijun, Chen Jin, Feng Junzheng 2020, 41(5): 47-59.  Abstract ( 247 )   The report of the 19th CPC National Congress proposes to "cultivate world-class enterprise with global competitiveness", which provides a broad space for theoretical research and also points out the direction and goals for Chinese leading enterprises. Facing intense competition in the globalized economy, it is wise for Chinese leading enterprises to cooperate with universities and research institutes through dynamic processes of knowledge and technology communication and exchange, so as to improve their responses to customers′ demands. Due to organizational inertia and path dependence, most of Chinese enterprises emphasize short-term returns and fears innovation failure with regard to Industry-University-Research-User (IURU) collaborative innovation. The necessities of basic research inputs and applied research inputs from universities and research institutes are not given much attention for most of Chinese enterprises, which leads to the low rate of transformation of scientific and technological achievements. The major reasons probably lie in: (a) seldom Chinese leading enterprises have in-house basic research and applied research capabilities, and their internal technological innovation system are neither complete nor professional, and (b) the absence of effective IURU collaborative innovation mode combining management mechanisms to align different innovation stakeholders, making it hard to for Chinese leading enterprise to absorb and integrate external basic research and applied research inputs in a good manner. However, relatively little research has addressed the IURU collaborative innovation issues especially for leading enterprises under Chinese scenario, and the framework of their technological innovation system is not well understood. The above background constitutes the focus of this article′s research: how to improve the technological innovation system of Chinese leading enterprise combining the IURU collaborative innovation model, and then provide strong support for the implementation of the national strategy of cultivating Chinese leading enterprise? After the brief introduction ofresearch background, firstly, we review the existing literature about the concept of world-class enterprise, and then analyze their technological innovation characteristics and nurturing paths, as well as the need for the IURU collaborative innovation. The Hewlett-Packard laboratory case is adopted to illustrate how the global leading enterprise pilot is successful in technological innovation and its industrialization. One of the key findings is that the basic research and applied research functions shall be configured for the leading enterprises, not only for its internal R&D purpose, but also act as an indispensible linkage between corporate requirements and external innovation inputs. Moreover, we review the related research progress of the IURU collaborative innovation and summarize the research gap. Secondly,considering the impacts of modularity (product modularity, organizational modularity and platform modularity) on technological innovation of leading enterprises, we bridge the IURU collaborative innovation theory, modularity theory and platform thinking, and build a platform modularity-based IURU collaborative innovation model featuring customer-driven and leading enterprise as the core, in which we incorporate the end-user interaction platform, resource integration platform, innovation incubation platform, and industrialization platform, and each of them have organizational modules with specific functions. Correspondingly, there exist coupling effects among these platforms associated with the IURU collaborative innovation chains. In this regard, the multidirectional interaction relationship can be realized among the participants of IURU collaborative innovation. Thirdly, Haier Group, the Chinese leading enterprise active in the home appliance industry is utilized as the case study. In this case study, the motivate of Haier Group′s IURU collaborative innovation is explained therein, and the IURU collaborative innovation effects under product modularity, organization modularity and platform modularity are compared from views of user-collaboration, resource-collaboration, and organization-collaboration. Implementing management mechanisms for coordinating relationships between the leading enterprise and external partners is important for achieving IURU collaborative innovation, in light of this, the platform modularity-based IURU collaborative innovation mechanisms of Haier Group are explained in this section, which facilitates the timely interaction combining sustainable cooperation between the leading enterprise and its partner. The study contributes to the IURU collaboration innovation theory by embedding the modularity theory and platform thinking. With that, the interaction and cooperation between the leading enterprise and its external partners can be made more efficient. Particularly, the platform thinking strategy can not only positively enhance the technological innovation of Haier Group, but also help promote the win-win result within the proposed IURU collaborative innovation model. At the product modularity stage, all parties cooperate with each other to carry out information interaction using modules as an interactive carrier. The module interface can eliminate the obstacles to innovation triggered by factors such as information asymmetry and subject differences. At the organizational modularity stage, the leading enterprise constructs unique innovation modules to enhance its technological innovation capabilities including the National Key Laboratory, the National corporate R&D Center and the National Engineering Laboratory, with that, Haier Group achieves modular division of labor in its technological innovation system which in turn facilitates the IURU collaborative innovation. At the stage of platform modularity, IURU collaborative innovation has entered a new level. On one hand, the proposed  platform modularity-based IURU collaborative innovation model can help the leading enterprise interact with a wider range of universities and research institutes in an uncertain environment; On the other hand, universities and research institutes can innovate and incubate on the platform to generate breakthrough innovations, which is conducive to solidifying the cooperative relationship between universities, research institutes and leading enterprise, and even incubate more valuable innovations or new industries through IURU collaborative innovation. As far as the practical contribution is concerned, the study of IURU collaborative innovation from the angle of modularity at the micro level of Chinese leading enterprise is at the center of this article. The research enriches the understanding of how product modularity, organizational modularity and platform modularity enhance the IURU collaborative innovation in different way, which helps entrepreneurs understand how to strategize to restructure their internal technological innovation system as well as the IURU collaborative innovation network in a broader context during their technological innovation decisions and implementations. Meanwhile, the case study of Haier Group′s IURU collaborative innovation practice in conjunction with product modularity, organizational modularity and platform modularity, can also be of useful references for Chinese leading enterprises in other industries for benchmarking and strategizing purposes. Related Articles | Metrics

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An analysis of the integrated development of China′s high-tech service industry and manufacturing industry——A study based on 2015 non-competitive I-O from OECD database#br# Hua Guangmin, Huang Wei 2020, 41(5): 69-77.  Abstract ( 216 )   With the acceleration of the world′s technological progress and the adjustment of industrial structure, the new round of industrial development has become more advanced and intelligent.The industry has become more and more integrated and mutually reinforcing.High-tech service industry is the integration of modern service industry and the advanced technology.It has great impact and linkage on the upstream and downstream industries, which affects the improvement of manufacturing efficiency. Firstly, With Non-competitive I-O, this paper demonstrate the relationship between high-tech service industry and manufacturing industry with the input rate of high-tech service industry and manufacturing industry.Secondly,With Non-competitive I-O, the efficiency of high-tech service industry and manufacturing industry is separated into domestic value-added efficiency and import efficiency.Then the paper analyzes the impact of high-tech service industry on manufacturing efficiency and the impact of manufacturing industry′s efficiency on high-tech service industry. It explores the endogenous interaction mechanism of high-tech service industry to manufacturing industry. The results show that: (1) From the input change of high-tech service industry and manufacturing, except for a few industries,the intermediate input of China′s high-tech service industry to manufacturing industry has mostly increased.What′s more,the intermediate input of China′s manufacturing industry to high-tech service industry has mostly increased,too.That is to say,the mutual intermediate input of high-tech service industry and manufacturing industry has increased,too. (2) From the impact of high technology service industry on manufacturing efficiency, China′s high technology service industry cannot effectively drive other industries to generate added value. (3) From the impact of manufacturing industry on high-tech service industry,the efficiency improvement of China′s low-end manufacturing industry can mostly drive other industries to generate added value effectively except for Chemicals and pharmaceutical products industry. (4) The efficiency of China′s high-end manufacturing industries such as computers, electronics and equipment,cannot effectively drive other industries to generate added value. Therefore, this paper proposes that China should take innovation as the main endogenous power, strengthen support for high-tech service industry, and promote the integration of manufacturing industry and high-tech service industry, and so on. The research innovations are as follows: (1) With regard to research on service and manufacturing efficiency, the existing literature often studies the relationship between service industry and manufacturing industry from the provincial or national level, adopting traditional research methods such as total factor productivity, empirical analysis with panel data.From the industry level, there is less research on the relationship between service industry and manufacturing industry. This paper adopts multi-period input-output table to study the interaction relationship between domestic service industry and manufacturing from the industry level, focusing more on the inter-industry mechanism research. It make deeply research on the interaction relationship between high-tech service industry and manufacturing efficiency. It refines the research on the inter-industry interaction mechanism. (2)Traditional research often adopts a competitive input-output model, which does not exclude service import. It cannot accurately demonstrates the relationship between the domestic service industry and the manufacturing industry, nor can it accurately measure the mutual input between domestic service industry and manufacturing industry. So this paper adopts non-competitive input-output table from OECD database, removing “repetition calculation item”. It only considers the mutual influence between domestic service industry and manufacturing industry. So it can more accurately measure the mutual input of domestic service industry and manufacturing industry. It also more accurately measure the efficiency of high-tech service industry and manufacturing industry. (3)With regard to the relationship between service industry and manufacturing, the research on inter-industry interaction is relatively adequate in the existing literature, but the research is often the static research. The endogenous research on the interaction between the service industry and the manufacturing industry, is still in the initial stage. This paper uses the recent non-competitive input-output model to study the interaction relationship between domestic high-tech service industry and manufacturing industry, which is conducive to establishing the integration mechanism between high-tech service industry and manufacturing industry,promoting the coordinated development of high-tech service industry and manufacturing industry, improving the industry efficiency endogenously. Related Articles | Metrics

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An empirical research on enterprises′ collaborative innovation：The influence of competitors′ collaborative innovation#br# Liu Zhiying, Shen Lei, Leng Zongyang 2020, 41(5): 89-98.  Abstract ( 244 )   In the process of innovation, individual enterprises often encounter factors such as increased technological complexity, increased uncertainty of innovation, shortage of their own resources, and insufficient R&D capabilities. Looking at the practice of innovation and development of enterprises in developed countries, one of the most important successful experiences is that break the boundaries of the enterprise, cooperate with multiple entities to innovate, and realize the maximum integration of innovation elements. Chinese enterprises urgently need to make good use of collaborative innovation to break through innovation bottlenecks and truly achieve innovation-driven development. The term "synergy" first appeared in the system theory and was proposed by the German physicist Haken in 1971. It refers to the synchronized behavior or effect of coordination and cooperation among various subsystems. Later, the idea of synergy entered the field of innovation, resulting in the research of “industry-university-research (IUR) cooperation” and other directions. Chen Jin pointed out that collaborative innovation is an organizational model formed by the integration of enterprises, knowledge production organizations, users and other subjects in order to break through the bottleneck encountered by innovation. At present, scholars are not comprehensive in exploring the impact of collaborative innovation between enterprises and different external entities on corporate innovation performance. Therefore, it is difficult to guide enterprises to choose external entities collaborative innovation to maximize innovation performance under limited resources. Therefore, it is necessary to explore: (1) What are the external entities of corporate collaborative innovation? What is the difference between the impact of collaborative innovation with different entities on the innovation performance of enterprises? In addition, the existing literature mainly focuses on exploring the direct impact of corporate cooperative innovation on innovation performance, while ignoring the influencing factors of this relationship, which is not conducive to a deeper understanding of corporate cooperative innovation and building a more comprehensive theoretical framework. On the one hand, in reality, competitors will also collaborate with external entities to innovate. Because of the competitive relationship between enterprises and competitors, this kind of collaborative innovation will affect the enterprise more or less, so it should not be ignored. Therefore, the collaborative innovation of competitors should be an indispensable part of the theoretical model of corporate collaborative innovation. On the other hand, the understanding between enterprises and competitors has evolved from the "opposition" in the past to the current "cooperation-competition", but the previous research literature on the impact of competitors is mainly qualitative analysis, and only explores the collaborative innovation between competitors and enterprises, and ignores the possible impact of collaborative innovation between competitors and external entities on enterprises. Therefore, it is necessary to investigate: (2) How does the collaborative innovation of competitors and different entities affect the collaborative innovation of enterprises? At present, there is still a lack of research on these two issues in the academic community. Clarifying these two issues not only helps to initially establish the theoretical framework of collaborative innovation, but also is an important basis for enterprise innovation decision-making, so it is of great significance. This article integrates the existing relevant literature, identifies six main external entities (government, competitors, suppliers, customers, research organizations, intermediaries) of corporate collaborative innovation, and selects some domestic enterprises as samples, empirically researches the difference between the effect of collaborative innovation between enterprises and different entities on corporate innovation performance, and the moderating role of corresponding competitors' collaborative innovation in it, and draws the following conclusions: (1)Enterprise collaborative innovation mainly includes enterprise-government, enterprise-competitor, enterprise-supplier, enterprise-customer, enterprise-universities and scientific research institutes, and enterprise-intermediary institutions, all of which can improve enterprise innovation performance. Enterprise-customer collaborative innovation has the most significant impact on enterprise innovation performance, reflecting the main purpose of enterprise innovation in the market economy is to meet customer needs and provide better services. The effect of enterprise-supplier collaborative innovation on enterprise innovation performance ranks second, which reflects that suppliers are playing a powerful role in the process of actively seeking technological innovation to better meet customer needs. The effect of corporate-university and scientific research institutes' collaborative innovation on corporate innovation performance ranks third, which shows that production, education and research are indispensable in corporate technological innovation. The effect of corporate-competitor collaborative innovation on corporate innovation performance ranked fourth. This shows that supply chain collaborative innovation (supplier-enterprise-customer) has the best effect, followed by IUR collaborative innovation (enterprise-research organization), and finally collaborative innovation with competitors (enterprise-competitor). However, the effect of corporate-intermediary institutions' collaborative innovation is not obvious. This may be due to the lack of roles, overlapping roles, and the government's offside that hinder the development of science and technology intermediaries in China. Finally, corporate-government collaborative innovation has the least improvement effect, which also shows that the enterprise is the main body of innovation from the negative side. The government does not have more advantages than enterprises in collecting, processing technological innovation, and investment and financing. Therefore, the government′s regulation should be appropriate that not exceed the main role of enterprises in the market economy. (2)Competitors′collaborative innovation has basically played a role in enhancing the effect of corporate collaborative innovation on corporate innovation performance: the stronger the collaborative innovation relationship among competitors, the more significant the promotion effect of corporate and government, suppliers, universities and research institutes, and intermediary institutions on corporate innovation performance, but competitor-customer collaborative innovation has no such regulatory effect. It can be seen that although competitors will compete with the enterprise for the customer's "cake", the cooperation between the two will make the "cake" bigger, resulting in better innovation performance and innovation capabilities. This gives us a deeper understanding of the relationship between companies and competitors, and also adds theoretical support for the industry to value cooperation-competition. At the same time, the research on competitors′ collaborative innovation is also an indispensable part of the research on the enterprise ′s collaborative innovation system. This paper′s research on competitors′ collaborative innovation as a moderating variable is a preliminary attempt to fill the research gap in this field, and the results of the research also inspired subsequent researchers to carry out more detailed and in-depth research in this direction. This article also has some limitations that are worth discussing and further research: First, due to the length of the article, this study only explores the impact of each type of collaborative innovation of competitors on the corresponding types of collaborative innovation of enterprises. Second, the sample enterprises in this study are mainly concentrated in some provinces and cities, of which Anhui enterprises exceed one quarter, and most of the enterprises come from high-tech industries. Because the region and industry have an impact on collaborative innovation, the conclusion of this study needs to be further expanded to investigate. Related Articles | Metrics

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Impact of high-tech innovation performance based on interaction of policy incentives and R&D investment Li Jingyi, Wang Zhenyang, Wu Xianyun 2020, 41(5): 99-110.  Abstract ( 269 )   In order to consolidate the status of high-tech enterprises as the main body of innovation and enhance the ability of enterprises to invest in R&D, effective guidance of government policies is needed. According to the different stages of enterprise development, when the government provides policy supply and fiscal and tax support, the two policy tools are usually selectively used and effectively matched according to actual conditions. Under the premise that the market allocation of resources has played a decisive role, the role of China′s current fiscal and taxation policies in the process of enterprise innovation and development, as well as the effect of policy implementation has become the focus of general attention. Therefore, exploring the impact of government policy incentives and R&D investment on high-tech innovation performance is of great significance both in theory and in practice. Throughout the existing research, the theoretical analysis of the effective mechanism of policy incentives, of the input and output of technological innovation is still unclear. The role path, transformation form and destination of fiscal and taxation policies in innovation investment are not detailed and specific, and the problem that how interaction between policy incentives and R&D investment impact on high-tech innovation performance has not been fully resolved.  Based on the previous studies, this paper puts forward three research hypotheses: Hypothesis 1: The enterprise R&D investment is an important factor affecting innovation performance. The higher the R&D investment level, the better the innovation performance improvement effect. Hypothesis 2: Tax incentives will weaken the contribution of R&D investment to corporate innovation performance. The more tax incentives enterprises enjoy, the level of R&D investment decreases but not increases, and the worse the effect of corporate innovation performance improvement. Hypothesis 3: Financial subsidies will enhance the incentive effect of R&D investment on corporate innovation performance. The more financial subsidies that enterprises enjoy, the higher the level of R&D investment, and the more effective the improvement of corporate innovation performs. This paper constructs a fixed effect model based on the panel data of 59 listed high-tech enterprises in the western region of China from 2014 to 2018, and analyzes empirically the influences of the interaction of fiscal and tax policy support and enterprise R&D investment on the innovation performance of enterprises in the high-tech enterprises. The research shows that:(1) This paper believes that there is a correlation between R&D investment and innovation performance; in the process of R&D investment to promote enterprise innovation performance, although tax incentives play a depressing role, fiscal subsidy policy plays an incentive role. (2) From the perspective of ownership, compared with state-owned enterprises, the R&D investment of private enterprises plays a significant role in promoting innovation performance. However, it is unavoidable that private enterprises enjoying tax incentives have invested in R&D. There is an extrusion effect in the improvement of innovation performance. (3) At the industry level, whether it is manufacturing or non-manufacturing enterprises, tax incentives and fiscal subsidy policies have an impact on innovation performance through the intermediary variable of R&D investment; the enterprises which enjoy the tax incentives will curb the improvement of R&D investment on innovation performance. However, the effect of subsidy policy by manufacturing enterprises that are subject to fiscal subsidy policy will lead to a transmission mechanism through the intermediary variable of R&D investment, thereby significantly improving the innovation performance of enterprises. (4) By calibrating the model and further considering the intertemporal nature of the economic benefits generated by the R&D investment of the enterprise, it can be seen that the tax preferential policy supports the R&D activities of the enterprise by cooperating with the R&D investment of the enterprise, which makes it easier to upgrade the innovative performance of enterprises; while the financial subsidy policy needs to cooperate with the capitalization of research and development investment of enterprises, which has a positive effect on the improvement of innovation performance. On this basis, this paper proposes a rationalization proposal to further use fiscal and taxation policies to promote enterprise R&D investment to enhance the innovation performance of enterprises. It is believed that in the process of stimulating high-tech enterprises′ R&D investment and innovation performance, they should generally follow the principle of giving more tax incentives for R&D investment and giving more financial subsidies to the capitalization of R&D investment. Specifically, there are three main policy recommendations. 1.Combine the life cycle theory, and jointly use the interactive incentive mechanism of financial subsidies and R&D investment to promote innovation performance. In the initial stage of the enterprise, the tax preferential policy cannot solve the "immediate need" of the enterprise; in comparison, the financial subsidy is a "snow in the snow"(easy sell) that directly solves the bottleneck of funds. In the growth period, tax incentives play the role of "support". By the time of maturity, the tax preferential policy has already completed its historical mission; in contrast, financial subsidies generally only affect the research and development period and the conversion period of enterprise innovation. However, for industries which are supported by the state, financial subsidies are required to support and "assist" at various times. 2.Innovative financial subsidies support private high-tech enterprises, and improve the operational efficiency of R&D investment of subsidy funds. Innovative financial subsidies should be supported by private high-tech enterprises. For example, increase the flexibility of financial subsidies, convert financial subsidies to invest in private enterprises to invest in venture capital or investment funds, and professionalize through professional managers. Operate and use their investment experience to correct the wrong investment direction and increase the success rate of investment. 3.Using the synergy between tax incentives and cost-based R&D investment, the interaction mechanism between financial subsidy policy and capitalized R&D investment runs through the whole process of the enterprise R&D cycle, and selectively uses policy tools at different stages to comprehensively to improve corporate innovation performance. Tax incentives and enterprise cost-based R&D investment are more likely to enhance the company′s innovation performance, while the financial subsidy policy is more likely to enhance the company′s innovation performance. Related Articles | Metrics

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Nonlinear effects of vertical integration on firm innovation Guo Jiaojiao, Chen Shi, Rong Zhao 2020, 41(5): 111-121.  Abstract ( 244 )    Firms′ vertical integration strategies to deal with the challenge of external environments may profoundly influence their innovation activities. Theoretically, vertical integration can stimulate firm innovation and the effect may be reversed if the extent of vertical integration goes too high. Empirically, existing studies on vertical integration and firm innovation fail to reach a consensus, and three different patterns have been found: positive relationship, negative relationship, and inverted-U-shaped relationship. One limitation of these studies is that they focus on a specific industry, thus weakening the generality of their findings. Additionally, short examination period, small sample size, and unidentified causality are some other common problems in these studies either abroad or at home. Our paper overcomes the above problems by investigating all manufacturing listed firms on the A-share main board in China for a long period from 2000 to 2012, and we use generalized method of moments (GMM) to solve the potential endogeneity problem. In addition, due to the availability of patent citation data, domestic studies on firm innovation usually use the number of patents to measure the innovation output, which is subject to measurement errors as patent quality is highly heterogeneous. Thanks to a new patent data set, this paper is able to use patent citation counts to measure firms′ innovation output. Following the literature, we use the value-added method (VA/S) to measure the degree of vertical integration. Theoretically, vertical integration can promote firm innovation by eliminating opportunistic behaviors in knowledge transactions, coordinating R&D investment plans, and ensuring R&D exclusivity. However, with the increase in the extent of vertical integration, the coordination cost within the firm is rising and the strategic flexibility is declining. Accordingly, the effect of vertical integration on firm innovation can be reversed. This paper thus focuses on such a nonlinear relationship between vertical integration and firm innovation. For high-tech firms, on the one hand, the synergy of knowledge associated with vertical integration makes them more adaptive to the industrial environment characterized by rapid technological innovation. On the other hand, the innovation disadvantages brought in by a high degree of vertical integration tend to slow them down and lose the capability of prompt reactions to technological changes. Therefore, we postulate that compared to non-high-tech firms, the strength and weakness of vertical integration on innovation are both more pronounced in high-tech firms. State-owned enterprises (SOEs) are difficult to benefit from the innovation advantages of vertical integration as SOE administrators cannot fully benefit from but have to suffer from the cost of innovation. Moreover, due to the superiority of access to external resources, SOEs are immune to both advantages and disadvantages of vertical integration. We thus postulate that the relationship between vertical integration and firm innovation is more pronounced among non-SOEs than that among SOEs. With control for various firm characteristics, year fixed effects, industry fixed effects, and city fixed effects, our OLS estimation results show that the relationship between vertical integration and firm innovation is significantly inverted-U-shaped; that is, firm innovation is first increasing and then decreasing as the extent of vertical integration increases. Our calculation reveals that on average the turning point of the inverted-U-shaped relationship appears when the VA/S value is equal to 0.21. This means that when the degree of vertical integration exceeds 0.21, its marginal impact on firm innovation turns from positive to negative. After solving the endogeneity problem by using the GMM method, this relationship persists. Additionally, consistent with our predictions, this inverted-U-shaped relationship is more pronounced among high-tech firms and among non-SOEs. Last, this inverted-U-shaped relationship only exists in the eastern and central regions but not in the western region. In practice, our study is valuable both for firm administrators to choose the appropriate organization boundary and for government agents to make related policies. First, as shown, in the early stage of vertical integration, it benefits firm innovation, indicating some extent of vertical integration should be encouraged. However, given the existence of a turning point of this strategy, firms must carefully choose the degree of vertical integration to better cater to their innovation activities. For firms whose degree of vertical integration has exceeded the turning point, a more reasonable strategy is to shrink the boundary appropriately to better serve its long-term growth. Nevertheless, it should be noted that the turning point varies over industries and over firm ownership. Second, admittedly, vertical integration can expand a firm′s boundary and enhance its market power. However, as we have found, an excessively high degree of vertical integration impedes firm innovation. It results in a group of large firms with inefficient innovation capabilities, thereby retarding the improvement of economic efficiency in the long-term. To this end, the government can implement non-discriminated R&D subsidies and encourage banks to provide low-interest loans to stimulate firm innovation and facilitate the transformation of firms′ strategy from size-driven to innovation-driven. It will not only help firms better balance between being bigger and being stronger, but also contribute to the long-term development of the whole economy. Related Articles | Metrics

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A research on the innovation effect of China′s outward foreign direct investment Jia Nisha, Han Yonghui, Lei Hongzhen 2020, 41(5): 122-130.  Abstract ( 246 )   Innovation is an important means for enterprises to obtain core competitiveness and excess profits. Accelerating the improvement of enterprise innovation capabilities is conducive to China′s transformation from a "manufacturing power" to a "manufacturing power". With the deepening of economic globalization and the advancement of the “Belt and Road” and “Going Global” strategies, Chinese enterprises have widely participated in international division of labor and transnational cooperation. In 2016, the number of foreign direct investment companies in China reached 7961 throughout the year, distributed in 164 countries and regions around the world. OFDI flow reached 170.11 billion US dollars, which is 63 times that in 2002, achieving an average annual growth of 34.4% for 14 consecutive years. At the same time, the characteristics of international cooperation of Chinese enterprise innovation is becoming more and more obvious. So it is necessary to deeply study the impact mechanism and effect of foreign direct investment, an important way for enterprises to participate in international division of labor, on enterprise innovation. This will provide micro-level empirical evidence and theoretical support for China′s current foreign direct investment policy. The innovation of this paper is that we examine the mechanism of the effect of OFDI on the innovation effect of the home country based on heterogeneous investment motivation and heterogeneous host countries. This paper selects the comprehensive data set of manufacturing industry from the combination of the database of Chinese industrial enterprises and the directory of overseas invested enterprises (Institutions) as samples, and uses R&D input and R&D output to measure the two mechanism processes of enterprise innovation, to empirically test the home country innovation effect of enterprise FDI. Compared with the existing literature, the possible contributions of this paper include three aspects. First, this article attempts to analyze the internal mechanism of the OFDI innovation effect from a micro perspective, which enriches the related research on enterprise innovation. Second, a research paradigm of innovation decomposition process for R&D investment and R&D output is proposed. The existing research on the impact of OFDI on home country innovation is mostly based on a separate perspective. Innovation is the entire process of production, application and commercialization of technology. It not only refers to the preliminary basic research preparation, but also covers the commercialization of later research and development results. We can fully understand the home country innovation effect of OFDI only by analyzing the effect of OFDI on R&D investment and R&D output. Third, this paper selects a sample of Chinese manufacturing companies for empirical testing. As China is the largest foreign direct investment country among developing countries, its overseas investment has a clear investment motivation, which is helpful to a deeper understanding of innovation under heterogeneous investment motivation. For answer the question of whether Chinese outward foreign direct investment promote technological innovation of home country, this paper sets two indicators for R&D investment and R&D output to characterize the impact of foreign direct investment on the technology of home country enterprises. At the same time, this paper explores the knowledge absorption mechanism and knowledge re-creation mechanism of foreign direct investment affecting the technological innovation of home country enterprises, and studies the technological innovation effects of foreign direct investment home country enterprises from multiple dimensions. The results of our examination present some evidences. First, in terms of the total sample, China′s outward foreign direct investment promote the R&D investment effectively, but do not promote the increase of R&D output. Second, the sub-sample test shows that there is a difference in the impact of heterogeneous investment motivation OFDI on R&D investment and R&D output. Technology-seeking investment significantly promotes home country enterprises′ R&D investment and R&D output, while resource-seeking investment has a certain inhibitory effect on home country R&D investment. OFDI of comprehensive production has no obvious promotion effect on R&D investment and R&D output; OFDI of business and trade has a significant promotion effect on R&D investment in the home country, but the promotion effect of this type OFDI on home country R&D output is not obvious. Third, OFDI in heterogeneous host countries has different effects on R&D investment and R&D output: investment in developed countries significantly promotes home country R&D investment; while investment in developing countries promotes home country R&D output. This paper comprehensively evaluates the impact of OFDI on home country enterprise innovation, and concludes that OFDI has been quite effective since the implementation of China′s "Go Global" strategy. OFDI generally promotes R&D investment of enterprises, but it does not promote R&D output of enterprises, which shows that Chinese enterprises′ R&D efficiency is seriously low, which is not enough to quickly transforming R&D investment into R&D output. Therefore, while further encouraging enterprises to "go global", the government should strive to improve the efficiency of R&D in order to undertake foreign advanced technology. Therefore, while further encouraging enterprises to "go global", the government should strive to improve the efficiency of R&D in order to undertake foreign advanced technology. At the same time, it is noted that there are differences in the impact of OFDI with different investment motivations and with different host countries on the innovation of home country enterprises. To get more technology spillovers from "going global", on the one hand, government need to implement different incentives for different motivation investment. On the other hand, the government should actively encourage and guide more qualified enterprises to invest in developed countries or regions to obtain the most advanced technology and knowledge spillovers. And low-end industries in the value chain should be encouraged to transfer from home countries to other developing countries. In this way, it can not only obtain profits and reduce costs, but also release resources to undertake technologies closer to its own capabilities to promote innovation and development. Related Articles | Metrics

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A study of the evaluation methods of academic impact based on evidence chain Xu Fang, Zheng Yi, Liu Wenbin 2020, 41(5): 140-150.  Abstract ( 295 )   Due to the limitations of citation-based evaluation methods, as well as the complex citing motivations, scholars are inspired to explore new quantitative evaluation methods. In recent years, the rise of Altmetrics provides new measures to carry out quantitative academic impact evaluation. Currently, a massive number of studies have been conducted on related research scopes, which can be further categorized into three. The first category of the existent studies introduces this emerging domain by organizing, analyzing and clarifying the basic concepts and development stages of Altmetrics. Meanwhile, some scholars carried out comparison researches on the various Altmetric platforms about their purposes, data sources, metric indicators, evaluation strategies, output, and other additional functions, which can be seen as the second category. The third type of researches focus on Altmetric indicators′ application in article evaluation, and some of these studies indicate that the tradition bibliometric indicators should be utilized with the Altmetric indicators to increase the credibility of the results. Overall, the current Altmetrics studies show us a new path to carry out academic impact evaluation by applying the tradition bibliometric indicators and the Altmetrics indicators together. Although fruitful results have been achieved in the Altmetrics study, further research is still needed to clarify some critical points. First of all, the contents and limitations of some Altmetric indicators need to be further clarified to ensure they will be utilized in a consensus and proper way. For instance, it is still unclear that to what extend the indicator “number of viewers online” represents the academic impact of an article, or in other word, how should we comprehend this Altmetric indicator? The second point needs further clarification is the relationship between various Altmetric data sources. As we know, multiple Altmetrics websites and platforms exist currently, but the disparities of their data sources, data collecting methods, indicators′ definition and update frequencies have not yet been clearly compared and introduced. The chaos caused by above unclarity affected the efficacy of Altmetric indicators in their application. Therefore, this research aims to propose an innovation framework to relief issues exist in the current Altmetrics-based academic impact evaluation caused by the above two points. In accordance with the research purpose above, firstly we need to clarify the concepts of evidence chain. Evidence chain is a long-standing term in the domain of judicial criminal science, which is formed by more than two pieces of evidence (or evidence cluster) proofing each other mutually. The pieces of evidence or evidence cluster on an evidence chain are linked with each other via evidence connectors, which are usually forensic authentications or weapons in judicial investigations, and they also can be widely-accepted logic, social law and scientific knowledge in the general reasoning process. Most of the current research on evidence chain exists in the field of the judicial criminal investigation, although this concept also has been employed in the other research fields, the research about its potential application in the field of evaluation has not yet appeared. Furthermore, causality is the core to understand the evidence chain, since it combines solo evidence into a whole and enables the evidence chain proof an assumption. In practice, the causal connection of an evidence chain should be understood from multiple levels: the true relationship between causality exists only in the real domain that human experience cannot directly perceive, but the specific cause and effect are in the actual domain and the empirical domain is related through a causal chain that is morphologically diverse and can be recognized by human experience. Therefore, the causal chain is a specific form of a specific effect of causality, which includes a series of specific causes of the results and logical relationships between the causes. In an open system, the number of causal chains is inexhaustible, even the cause of a single causal chain is infinitely separable. Therefore, in practice, people often simplify and construct a causal chain with considering factors such as cognitive purpose, cognitive ability, and cognitive habits. Based on a specific causal chain, an evidence chain can be formed by the following steps. The first step is to verify and confirm the causal chain based on existing natural or social science theories. When the above theory has not yet appeared, we can also use cognitive tools such as Soft System Methodology (SSM) to construct a common logical-based causal chain. The second step is to organise evidence around the causal chain, and commonly, the evidence can be the physical, social, and data traces of each element on the causal chain. In the third step, the pieces of evidence (or evidence clusters) should be linked to form an evidence chain. In this step, we need to examine the relationship between different pieces of evidence (or evidence clusters) to ensure that there are no conflicts or irrelevances between pieces of evidence (or evidence clusters). Because of the mutual reinforcement of nonlinear evidence, an evidence chain produces a higher degree of credibility than the simple sum of individual evidence. Therefore, in this study, the evaluation of the academic impact based on the evidence chain can be transformed into an estimate of the overall probability of the evidence chain by the method of Bayesian probability. To demonstrate the process above, an empirical study is addressed in this article, which tries to compare the actual academic impact of two journals (Journal O and Journal M) in the operation research field. The first step is constructing the causal chain of the evaluation based on the existed citation motivation theory put forward by Weinstock and the elements of “Publish-Disseminate -Understand-Cite” constitutes the chain. In the second step, the Altmetric data and bibliometric data supporting each element on the causal chain was collected to form the evidence chain. To improve the accuracy of the chain, we also combed the data sources of different Altmetrics platform and selected Altmetrics indicators with high credibility. By calculating the data of the evidence chain, we concluded that journal M′s academic impact evidence chain has higher reliability than journal O, although the former journal′s five-year impact factor is higher than journal O, and this result also matches with the subject judgments generated from experts in the OR field. It can be pointed out according to the theoretical and empirical research in this article that the evidence chain-based academic impact evaluation framework can overcome the shortcomings of the traditional bibliometric method by integrating more evaluation information sources and reasoning in a more accurate way. Related Articles | Metrics

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The "jungle", history, and approach road of the grounded theory Jia Xudong, Heng Liang 2020, 41(5): 151-163.  Abstract ( 1335 )   After 40 years exploration of reform and opening up, Chinese enterprises have accumulated a large number of management experiences. This process provides a large number of excellent materials to management research, but need to be refined and induced by academics. So, contemporary management scholars should shoulder the important mission to construct new theories from those practices with Chinese characteristics to promote the development of management. There are two things need to be done. Firstly, if Chinese industry′s management innovation practice can be turned into certain universal theory, more enterprises all over the world can learn from it. Secondly, it will make a dialogue between these theories and western management theories, make contributions to the development of management research. These theories should conform to Chinese conditions, contain Chinese characteristics, and show Chinese style. Therefore, how to construct theories that not only conform to academic norms but also originated from practice is become a hot topic in academic circle and industry. Grounded Theory is an important methodology for constructing theories in the field of sociology. And, it has been increasingly recognized and accepted by the academic circle. Therefore, it is extremely urgent and necessary to comprehensively sort out the formation and mechanism of various schools and look into the distance of Grounded Theory, it will provide directions for the future Grounded Theory research and promote the development of the Grounded Theory itself. In abroad, Grounded Theory is mainly composed of three schools, including Classical Grounded Theory represented by Glaser, Proceduralised Grounded Theory represented by Strauss, and The Constructivist′s Approach to Grounded Theory represented by Charmaz. In China, since the end of 20th century, Grounded Theory was introduced into the sociology research field, Chinese scholars has paid more and more attention to Grounded Theory. Some scholars pointed out that the Zhagen Spirit (Zhagen is a transliteration from a Chinese word, means that research should take root in the real world) is the core spirit of all the Grounded Theory schools. Some scholars adhere to the Zhagen Spirit, follow the thought of The Constructivist′s Approach to Grounded Theory, give priority to the data processing 〖JP3〗framework of Classical Grounded Theory, assisted with Proceduralised Grounded Theory′s〖JP〗 causation stylized structure, combine with cognitive map tool, and finally exploratory put forward the "Grounded Research Paradigm of Chinese Management". Grounded Theory′s "jungle" is formed on the basis of the development of domestic and foreign schools. The differences of the epistemology of the three main schools of Grounded Theory are reflected in the differences of their methodology. The different methodology leads to the differences of their methods, which are mainly reflected in the coding process. In Classical Grounded Theory, the coding process is divided into open coding, selective coding and theoretical coding. Glaser emphasizes to form the final theoretical model based on 18 kinds of coding families. Proceduralised Grounded Theory divides the coding process into open coding, axial coding, selective coding and other steps. Strauss emphasizes that it will be done with the help of the "6C" model, it is easier to present the process of category aggregation into concepts. The coding process of The Constructivist′s Approach to Grounded Theory can be divided into initial coding, focused coding, axial coding, and theoretical coding. Charmaz is open to coding principles which neither excludes the 18 basic coding families proposed by Glaser, nor excludes Strauss′s theoretical expression form the "6C" causal relationship. Through qualitative and quantitative research perspective, it can be found that qualitative and quantitative research fusion in the Grounded Theory "jungle". There is a process of three times of combining of qualitative and quantitative research. At first, the born of Grounded Theory is a result of the combination from Strauss′s qualitative research background and Glaser′s quantitative research background, this is the first fusion of the qualitative and quantitative research. Based on the advantages of Classical Grounded Theory and Proceduralised Grounded Theory, Charmaz formed The Constructivist′s Approach to Grounded Theory, this is the second fusion of the qualitative and quantitative research. Grounded Research Paradigm of Chinese Management is the result of combining the thought of The Constructivist′s Approach to Grounded Theory, the data processing program of Classical Grounded Theory, and the causal relationship of Proceduralised Grounded Theory, it is the third fusion of the qualitative and quantitative research. Based on the review of the history andthe analysis of the current situation of Grounded Theory, we can see that if Grounded Theory intent to get a long-term sustainable development, it must not continue to deepen the division between different schools. The future of Grounded Theory relies on the communication and integration of different schools. In fact, the schools of Grounded Theory have begun to learn from each other′s strengths and integrate with each other. If Grounded Theory schools are still repel each other based on their own ideas and methods, can′t exchange and cooperate with the spirit of seeking common ground while putting aside differences, it will bring more misunderstandings and arguments and let more scholars dare not to try and use. It is a serious impediment to the development of the excellent research methodology, it will also affect the progress of social science research. The author adhered to the Zhagen Spirit, followed the thought of The Constructivist′s Approach to Grounded Theory, gave priority to the framework of Classical Grounded Theory′s data processing, assisted with Proceduralised Grounded Theory of causation stylized structure, combined with cognitive mapping tool, integrated qualitative and quantitative research, finally exploratory put forward the "Grounded Research Paradigm of Chinese Management". The qualitative research part of this paradigm has realized the integration of the existing three Grounded Theory schools′ methods and thoughts. But it has not completely separated from the basic framework and thoughts of traditional Grounded Theory. Based on our previous improvements of Grounded Theory methods and other qualitative research techniques, we are building a new qualitative research methodology by take advantages of various qualitative research methods during the process of problem generation, sample election, field investigation, data processing and theory construction. This article temporarily named the new qualitative research methodology as "Zhagen Methodology". The born of "Zhagen Methodology" based on our digestion, absorption of Grounded Theory and innovation, development which generated from Chinese practice context, we expect that it can give contribution to the promotion of Chinese management research. Related Articles | Metrics

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A study of the relationship between high quality relations and learning from failure mechanism among employees in start-up enterprises Gu Jiajun， Wu Junyi 2020, 41(5): 164-171.  Abstract ( 213 )   The quality of entrepreneurship in China has improved over the past decade and the ability of Chinese start-ups to create jobs has also improved. As a growing group, employees of new enterprises are more likely to face various uncertainties in their work than employees of mature enterprises, so their growth is more and more worthy of attention. Although the quality of entrepreneurial activity in China is improving, entrepreneurship remains highly uncertain. Start-up companies are more sensitive and vulnerable to failures in the business process. However , some scholars have found that failure is not always a bad thing. Failure is the path to success. In the process of learning relevant failure experiences, organizations can optimize various operational processes and improve work patterns, thus reducing the possibility of secondary failure and avoiding the expenditure of related costs. Learning from failures is an important but difficult task for most employees. Therefore, it is worth thinking about how to create a good learning environment for failures. Based on the theory of social cognition and the theory of relationship coordination, this study explores the influence of high-quality relationships among employees in new enterprises on learning from failures. Through the review of relevant literature, this study believes that high-quality interpersonal relationship, as a form of interpersonal coordination in work, can motivate employees to think and avoid deviation from expectations in work. In addition, such a high-quality relationship can improve the quality of communication among employees, increase the sense of trust and belonging, and contribute to a positive psychological state. This positive psychological state makes employees more likely to show positive expectations and supportive behaviors in the face of failure. Work autonomy, as a situational variable in which individuals perceive their degree of control over work activities, can regulate the relationship between individual traits and individual behaviors. Therefore, this study suggests that the positive relationship between psychological capital and learning from failures may also be affected by work autonomy. In order to verify the hypothesis, this study took employees of new enterprises within eight years of establishment in Zhejiang province as the research objects, collected online questionnaires and distributed offline questionnaires, and finally obtained 212 valid questionnaires. Through SPSS24.0 and AMOS24.0 empirical analysis of the data. The results of data analysis show that the relationship of high quality among employees has a significant positive effect on psychological capital and learning from failures. Employee psychological capital has a significant positive influence on learning from failures and plays a part of mediating role between high-quality relationship and learning from failures. Employee work autonomy plays a negative regulating role in the positive relationship between psychological capital and learning from failures. 〖JP2〗This study obtained the following enlightenment. On the one hand, encourage employees of new enterprises to build high-quality relationships. In terms of environment, a new enterprise can set up a more open office environment, so that employees can have more communication opportunities, and promote colleagues to understand each other′s work objectives, so that they can understand each other′s work. In terms of work, we need to break down the communication barrier of the department, let more employees with the possibility to participate put forward suggestions and ideas, and open the shackles of thinking. It is no longer what I want to do, but what is the overall goal of the organization. Instead of focusing on the task at hand, focus on whether other colleagues or leaders will bring in new ideas and whether leveraging the strengths of different departments to work together will lead to better results. After work, relevant discussion classes can be set up to share new knowledge learned and solutions to problems, to achieve intelligent management of knowledge and good stress response to problems, and to strengthen the awareness of intellectual property rights and formulate corresponding incentive mechanism, so as to enhance the interpersonal relationship among employees while increasing the knowledge stickiness. In terms of corporate culture, managers start from the top down to create a truth-seeking and pragmatic style that is independent of authority and rank, and integrate mutual respect into corporate culture. On the other hand, in order to promote employees′ learning from failures behavior, new enterprises need to reduce their work autonomy. A good startup will seize the crisis to reshape organizational habits, grasp the small failure of employees, so that the company can adjust the status to avoid big failure. The leader should pay more attention to the development direction of the enterprise, establish and improve the right habits and systems and positive corporate culture of the new enterprise in the face of failure or failure prevention. Institutions are the glue that allows people to turn conscious actions into unconscious habits. Introduce some common language, create a cultural identity, and reduce anxiety caused by misunderstandings. For high-status employees, we can also create a feedback culture. By reminding other employees, we can show that we are willing to accept feedback, and actively seeking feedback can reduce the pressure of givers and recipients. Carefully design small habits suitable for employees, so that the whole organization has plasticity and vitality, flexible and even in advance to deal with external challenges; make failure a non-terminal behavior; let employees get used to closed-loop thinking and learning from failures, and understand that this is a process and an opportunity for optimization. From thinking to behavior, from system to culture, when autonomy is appropriately reduced, employees are also accustomed to learning failure, so as to enhance their confidence in the next failure and form a positive cycle. The main deficiencies of this study are as follows. Firstly, cross-sectional data were used. In the future, we can consider collecting longitudinal data to track and explore the cause-and-effect relationship among high-quality employees, psychological capital and learning from failures in new enterprises. Secondly, study from the relationship between the coordination theory to study the effect of relationship between quality of failure. But in reality, there are many factors that affect the learning from failures of employees in new enterprises, in the future can enrich other antecedent research. It is also possible to explore the situation in which work autonomy has the most significant negative adjustment on the positive effect of employee psychological capital and learning from failures. Related Articles | Metrics

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Impact of intra-firm promotion incentive on R&D expenditure of listed companies Kang Hua, Wu Zuguang 2020, 41(5): 172-181.  Abstract ( 196 )   How to motivate executives and employees to support firm R&D activity was an important problem in the innovation research field. Prior research mainly analyzed the relationship between the option plan of executives or employees and firm R&D activity, but there were some studies finding that the option plan did not suite for the firm R&D activity and the intra-firm promotion incentive was suitable for the firm innovation. So, some exterior researchers started to study the impact of executive′s promotion incentive on corporate R&D activity. Until now, there was little research about the relationship between the intra-firm promotion incentive and R&D activity in China. Compared to the Western countries, social culture in China was totally different which would change the relationship between intra-firm promotion incentive and R&D. Under the Chinese social culture background, this paper investigated the impact of intra-firm promotion incentive on R&D expenditure with a pooled data sample of the 7739 publicly listed Chinese companies for the period 2006-2015. In fact, because there was a complicated pyramid organizational hierarchy in Chinese listed companies, this paper studied the impact of three types of intra-firm promotion incentive which were VP′s promotion incentive, Non-VP′s promotion incentive and common employees′ promotion incentive on firm R&D activity. Specifically, this paper applied STATA12.0 software to construct three OLS modes to investigate the impact of intra-firm promotion incentive in Chinese listed company on R&D activity and draw some below conclusions. First, VPs′ promotion incentive was significantly negative to R&D expenditure which supported the equity theory, because the promotion probability of VPs was very low and Chinese traditional culture refused the pay dispersion between executives. According to the descriptive statistic, there were two CEO-level executives, five VPs and six Non-VPs. And that VPs and Non-VPs both have the chance of becoming CEO, so the average promotion probability of VPs was the same as 2/11 which made the promotion incentive of VPs unattractive. On the other hand, Chinese traditional culture did not accept the pay dispersion between executives. If VPs think the pay dispersion between CEO and VPs was bigger than what they expected, the pay dispersion or promotion incentive would give rise to the dissatisfaction of VPs so the VPs refused to support the R&D activity. Second, Non-VPs′ promotion incentive was significantly positive to R&D expenditure which supported the tournament theory, because the promotion probability of Non-VP was high and the pay dispersion between VPs and Non-VPs was attractive for Non-VPs. According to the descriptive statistic, there were five VPs and six Non-VPs, so the average promotion probability of Non-VPs was 6/5. It was easy not difficulty that Non-VPs became VPs easily and the Non-VPs get the bonus which was the pay dispersion between VPs and Non-VPs, so the promotion incentive of Non-VPs could improve the risk preference of Non-VPs and increase the R&D activity. Third, the promotion incentive of common employee was unrelated to R&D expenditure because the common employees were the actor rather than decision-maker of firm innovation strategy and there were not apparent promotion channels between Non-VPs and employee. In fact, there were too many levels of organizational hierarchy between Non-VPs and employee and it was impossible for employee to become top managers so that the promotion incentive of employee did not work. In a word, these all above findings showed that the impact of these three kinds of intra-firm promotion incentive on firm R&D was totally different. According to these above conclusions, the firm should decrease the pay dispersion between CEO and VPs and increase the pay dispersion between VPs and Non-VPs in order to improve the firm R&D activity. Meanwhile, the firm should reform the promotion system of employee and increase the attractiveness of intra-firm promotion in order to motive the employee′s innovation activity. Related Articles | Metrics

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Customer concentration on corporate innovation Fang Hongxing, Yan Suyan 2020, 41(5): 182-190.  Abstract ( 346 )   Relationship-based transactions of listed companies in China are rooted in the formal systems such as legal, political and administrative management systems, as well as the formal systems such as customs and etiquette, and the concentrated customer/supplier relationship is one of its main manifestations. The relationship-based transactions between enterprises and major customers have a great influence on both sides. Domestic and foreign researches on relationship-based transactions mainly focus on the impacts of customer concentration on accounting conservatism, earnings management, profitability, loan contracts, and working capital management. On the one hand, in order to maintain long-term stability of relationship-based transactions, firms may improve accounting conservatism, or conduct earnings management. To deliver firms′ good financial status to major customers and guarantee the long-term cooperation, firms have motivations to enhance accounting conservatism; And to influence customers′ views on the prospect of firms′ future development, they may carry on earnings management. On the other hand, relationship-based transactions, not only mean stable product demand and income, but also may mean excessive dependence on major customers and easily affected by whether the financial situation of major customers is stable, which has an important influence on firms′ profitability, loan contracts and working capital management and so on. Customers concentration can improve firms′ profitability; The higher the customer concentration, the stronger the firms′ ability to obtain bank loans; Suppliers may increase their cash holdings for precautionary motivation in order to avoid customer churn. In order to maintain relationship-based transactions with major customers, except for improving accounting conservatism and conducting earning management, firms may also make relationship-specific investments. Innovation input as an important aspect of relationship-specific investments, will be affected by relationship-based transactions? And how do relationship-based transactions affect firms′ innovation output? In terms of relationship-based transactions and corporate innovation, scholars have explored the impact of supply chain relationship on corporate innovation output in the form of theoretical analysis and case analysis. Bellamy et al. (2014) find that, supply network accessibility and supply network interconnectedness can improve greater innovation output, and the interaction between supply network accessibility and supply network interconnectedness, the moderating role of absorptive capacity on supply network accessibility, and the moderating role of supply network partner innovativeness on supply network interconnectedness also can facilitate innovation output. It can be seen that, the characteristics of the relationship between the two parties during the process of the transaction have a significant impact on corporate innovation. But the research on the impact of customer concentration on corporate innovation has not been discussed in-depth. Based on transaction cost theory and strong or weak ties theory, the paper explores the function ways and mechanism of customer concentration on corporate innovation input and output, which help deepen the understanding of how relationship-based transactions affect firms′ behaviors and decisions. And the paper focusing on the relationship between customer concentration and corporate innovation has theoretical exploration value and practical reference significance. Using a sample of Chinese A-Shared listed companies from 2009 to 2015, the article explores the influence of customer concentration on corporate innovation input and output. The empirical research results show that customer concentration and innovation input is the U-Shaped relationship. That is, before the degree customer concentration reaches a certain point, firms′ innovation input decreases with the improvement of customer concentration due to the possibility of customer opportunistic behaviors. After the customer concentration increasing to a certain degree, the two parties gradually establish trust during the process of transaction, and the firms′ innovation input increase with the improvement of customer concentration. What′s more, customer concentration and innovation output is also a U-Shaped relationship, which confirms the impact of the strength of weak ties on corporate innovation. Namely, when the customer concentration is low, the weak ties between firms and customers help gain new knowledge and information, and then it makes the corporate innovation output achieve a higher level. But with the gradual improvement of customer concentration, the impacts of weak ties weaken, then the corporate innovation output drops. After the customer concentration reaches to a certain degree, the strong ties between firms and customers help share knowledge and technology, and then it promotes the continuous rise of innovation output. In addition, the results show that, innovation input plays a partial mediating role in the relationship between customer concentration and innovation output. Lastly, the U-Shaped relationship between customer concentration and corporate innovation is more significant in the group in which firms′ products are unique and which belongs to high technology industries. This study makes several contributions to the current literature. Firstly, starting from the firms′ external stakeholders, the paper selects a unique perspective of the customer relationship in the supply chain, analyzed and confirmed the impact channel and mechanism of the relationship-based transaction on corporate innovation input and output. It enriches the extant studies about customer concentration and relationship-based transactions. Secondly, based on the transaction cost theory and strong or weak ties theory, the study constructs a new analytical framework, which provides a new theoretical explanation for the influence of customer concentration on corporate innovation. Thirdly, the article proposes and verifies the U-Shaped relationship between customer concentration and corporate innovation, which provides empirical evidence on this important research topic. Finally, the paper makes an in-depth analysis of the different influences of the nature and degree of customer relationship on corporate innovation, which has certain practical significance for supply chain relationship construction, customer relationship management, and corporate innovation decision. Related Articles | Metrics

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A research on the continuous usage of WeChat applets from the lightweight perspective Wang Desheng, Han Jie, Cai Peiyuan 2020, 41(5): 191-201.  Abstract ( 516 )   With the rise of new technologies such as artificial intelligence and big data, a new marketing ecology is constantly being formed and focuses more on customer value and sustainable business capabilities. Under such situation, the lightweight applications represented by WeChat applets are changing the way companies interact with customers. Many companies are promoting their brand applets in order to build marketing ecology, such as Pinduoduo, Tongcheng-Elong, etc.. How to improve user′s continuance intention has become a key factor for the success of social media marketing. However, in the mobile social context, what lightweight features the applets have, whether and how these features affect the user′s continuance intention, will be the issues that this paper urgently needs to solve. The definition of lightweight originates from the field of automobile quality control, which refers to the process of improving the performance of automotive product through lightweight design, lightweight manufacturing and other processes while ensuring the basic performance. In this paper, lightweight is defined as the process of improving user experience and promoting user participation by optimizing information presentation, simplifying system functions, and improving service quality. Lightweight is also an important issue compared to overload in the field of social media marketing. In recent years, the information overload, communication overload, and social overload have caused a series of negative problems such as user burnout, inconsistent use, and technical stress. These issues have been the focus of research in information systems and social media marketing. However, applets can help users to complete convenient functional experiences. In other words, the lightweight features of applets may have a certain effect on user′s behavior and intention. This paper analyzes in depth from the perspective of lightweight, and puts forward the theoretical model based on the information system success model and theory of emotion. And the theoretical model describes how the lightweight features of WeChat applet (i.e., information lightweight feature, system lightweight feature, and service lightweight feature) affect users′ positive emotions, flow experience, and continuance intention. The empirical results reach the following conclusions. First, applet lightweight includes three dimensions: information lightweight, system lightweight, and service lightweight. Information lightweight emphasizes the task-oriented information judgment of users. System lightweight focuses on the technical features of the system featuring ease of use. Services lightweight emphasis on service characteristics characterized by responsiveness and response speed. Second, information-task fit, ease of system use and service responsiveness positively affects the users′ continuance intention. The information-task fit and service responsiveness positively affects the positive emotion and flow experience respectively, and the ease of use has a positive relation to the flow experience, but we don′t find evidence that it is related with the positive emotion. Third, positive emotion plays a completely mediating role between information-task fit and service responsiveness and the users′ continuance intention, and the flow experience completely mediates the relationship between lightweight and continuance intention. Our findings have theoretical significance and practical implications. Theoretically, our research provides empirical evidence that lightweight characteristics of the application affect users′ continuous usage. The information systems success model has been widely used in the research of government affairs and medical information systems. This paper takes the information system success model as the theoretical basis, which makes this theory empirically supported by lightweight application research in the context of social media. Previous social media marketing studies have explored the effects of advertising, product attributes, customer satisfaction, and service failure on user emotion. This paper analyzes the causes of users′ positive emotions from a lightweight perspective, and builds a complete transmission mechanism and influence path which describes how lightweight characteristics further affect users′ behavior and intention through emotional responses. The conclusions of this research have certain references for the social media marketing practice. First, in terms of lightweight information, companies or brands should pay attention to how marketing information is presented and provide their users with the appropriate amount, type, and form of information. While fully satisfying the needs of users, companies also need to reduce the recommendation of unnecessary information, and reduce negative emotions such as fatigue, burnout, and stress caused by users due to information overload, and make users get a more positive emotional experience. Second, companies should emphasize the usefulness, availability, and reliability of applet in terms of system lightweight practices.These companies should focus on accessibility and ease of use of applet as an information systems. It is much more convenient and less expensive for users to obtain applets than using mobile applications. So the companies should pay attention to the convenience and ease of use of the system to help users form a better experience. Third, companies or brands should improve the integrity and reliability of applet services in terms of service lightweight practices. The service providers ought to provide users with accurate and responsive service support and assistance. These companies must improve the user′s immersive experience through professional services and fast response, to avoid the negative emotions of users caused by the provision of unreliable services. Most importantly, companies can increase the lightweight of information, systems, and services to provide users with an efficient and convenient service experience to attract more users. Of course, there are some limitations in this study. First, this study only focuses on the continuance intention of WeChat applet users. In the future, further researchers can explore the influencing factors of users′ initial use intentions and the formation mechanism, and combine the two to fully explore the formation of applet users′ continuance intention. Secondly, although the proposed theoretical model can better explain the formation of applet user′s continuance intention, more studies are necessary to test the robustness of the model. The research can incorporate the lightweight applications of Alipay, Baidu, and other social medias into the research horizon to further test the validity of the model. Finally, this study mainly examines the emotional response mechanism formed by users′ continuance intention, and does not discuss other possible mediation processes. Future research can analyze from the aspects of perceived value and user habits, and can also examine the effects of user characteristics, social influences and other condition. Related Articles | Metrics

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Research on the relationship between environmental performance and financial performance of heavily polluting firms: The joint moderating effects of firm #br# characteristics and environmental information disclosure Yin Jianhua, Wang Sen, Gong Lidong 2020, 41(5): 202-212.  Abstract ( 386 )   Whether environmental performance and financial performance can be simultaneously improved in heavily polluting enterprises hasn′t solved up to now. Most studies show that the improvement of firm′s environmental performance can effectively promote financial performance. Although most of the firms aware of that, they adopt difference strategies. Some firms have achieved a win-win situation in both environmental and economic benefits through introducing leading environmental strategy. Others have not yet adopted measures for pollution prevention, and they enhance their economic performance at the expense of environmental performance. The relationship between environmental performance and financial performance remains to be further examined. In addition, firms with different characteristics balance their environmental performance and financial performance differently. There is an interaction between the environmental performance and the enterprise characteristics, such as size and ownership, which has been little confirmed in the literature. Exploring the interaction between environmental performance and the characteristics of firms is helpful to understand the reasons of the distinctive in the relationship between environmental performance and financial performance in different firms. Furthermore, the interaction between the strategy and enterprise characteristics could be explored. Corporate performance is not only constrained by the resources, but also closely related to the subjective strategic. Environmental disclosure, as one of the strategies for heavily polluting enterprises, interacting with enterprise characteristics, might influence the relationship between environmental performance and financial performance. This study attempts to analyze the joint moderating effects of the characteristics and the environmental disclosure in heavily polluting enterprises. Thus, based on legitimacy theory and stakeholder theory, we firstly analyze the effect of firm environmental performance on financial performance. Most of the firms in heavily polluting industries have faced severely environmental pollution while driving China′s economic development. Although central government of China has established strict environmental policies, local governments have ignored the environmental hazards of firms to promote local economic growth, which led firms to sacrifice environmental performance to improve financial performance. Thus, there is a negative effect between environmental performance and financial performance in heavily polluting enterprises. Then, the larger of the firm size, the more it will reduce the negative effect of environmental performance on financial performance. Large firms can often obtain more resources, and more easily to form economies of scale. When they improve environmental performance, they can try to mitigate the decline of financial performance by using other alternative resources. Besides, large firms are beneficial to technological innovation, and they will be more active and effective in green innovation to reduce financial performance. Considering of firm ownership, decision-making in state-owned firms are more inclined to follow national policies, and implement environmental practice. As a result, environmental management capabilities are enhanced, negative impact of environmental performance on financial performance is weakened. So compared with private firms, state-owned firms will weaken the negative impact of environmental performance on financial performance. Finally, the moderating effect of firm size and ownership on environmental performance and financial performance depends on environmental disclosure. Environmental disclosure can be regarded as a strategy for firms, because environmental disclosure can create good image and attract more stakeholders to invest. As environmental information is disclosed actively inheavily polluting enterprises, the environmental image is constantly being shaped, which is conducive to attracting investors to provide them with scarce resources. The resource disadvantages of smaller firms are gradually being ignored, so negative effects of environmental performance on financial performance are weakened. Similarly, the resource disadvantages of private firms will be ignored through the firm′s active environmental disclosure, and environmental disclosure attracts investors who care about environment to introduce resources into firms, thereby weakening the negative impact of environmental performance on financial performance. In order to verify above hypothesis, we analyze the data of 159 listed typical firms in highly polluting industry in China, which is screened from the Guotai′an database. The findings indicate that: (1) There is a negative relationship between environmental performance and financial performance inheavily polluting enterprises. The result is different from the research conclusions proposed by most scholars that improving environmental performance of firms can improve financial performance. The reason may be that the scope of this study is defined as heavily polluting industries. These industries accompany high costs for environmental protection, and prefer to decrease environmental input to gain profit. (2) In addition, the negative relationship between environmental performance and financial performance is positively moderated by firm size. Larger firms has richer resources, and more easily to form large-scale economy, which will help alleviate the negative impact of environmental investment on financial performance. However, the moderating effect of the firm ownership is not verified, that is, the effect of financial performance on environmental performance does not differ significantly between state-owned and private firms. (3) Thirdly, the moderating effect of enterprise characteristics on the relationship between environmental performance and financial performance in highly polluting firms depends on environmental disclosure. When the level of environmental disclosure is low in the smaller firms, the greater the negative impact of its environmental performance on financial performance. This conclusion shows that different levels of corporate environmental disclosure will lead to differences in the moderating effects of enterprise characteristics, which highlights the importance of environmental disclosure. This study also has some practical implications. From the perspective of firms,heavily polluting enterprises should actively carry out environmental disclosure, so that more investors pay attention to their environmental actions, and provide more resources to them. From the perspective of government, policy makers should continue to improve environmental laws and regulations, increase penalties of pollution emissions to heavily polluting enterprises, and urge firms to actively disclose environmental information. At the same time, governments had better formulate environmental disclosure standards and encourage firms to disclose not only current information, but also environmental plans. Finally, the government should strengthen publicity and education about environmental disclosure, popularize the role of environmental disclosure in promoting environmental protection and green innovation, making heavy polluting firms aware of the importance of environmental disclosure. Related Articles | Metrics

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Control rights allocation and entrepreneur incentives in venture capital:A perspective based on quality effort and management effort#br# #br# Ding Chuan, Li Aimin 2020, 41(5): 213-230.  Abstract ( 207 )   Entrepreneur′s efforts have an important impact on cash flow of project. On the one hand, a start-up entrepreneur would spend effort and energy to develop or even produce products. On the other hand, the entrepreneur will also spare no effort to deal with project-related affairs and manage the project. Limited source of finance always impels start-up entrepreneurs to seek for venture capitalists. These entrepreneur′s efforts, which are the key factors to determine whether the project will be successful or not, thus arouse much attention from venture capitalists when sign a contract and allocate control rights with entrepreneurs. This paper differentiates between these efforts and divides them into quality efforts and management efforts, and then studies the efficiency of three kinds of control allocations, including entrepreneur control, venture capitalist control and contingent control. The results of the theoretical models show that: (1) contracts that allow the entrepreneur to own the rights of control are hard to achieve social efficiency; though renegotiation can ensure that entrepreneur control is efficient beforehand and afterwards, however, renegotiation is not always feasible, even when it is, the cost of renegotiation would lead to loss of efficiency; (2) when the venture capitalist has the rights of control, and if the venture capitalist gets paid more than the liquidation value under good condition, then the contract is socially efficient; if on the opposite, the venture capitalist never obtains payment greater than such liquidation value, then the contract has no incentive beforehand, nor efficiency afterwards, what is more, the final project would inevitably face liquidation; equity allocation can solve the problem of inefficient investment under venture capitalist control afterwards and greatly expands the scope of financing, however, this is at the expense of the ex-ante efficiency; (3) the contingent control rights allocation is always socially efficient; (4) reservation utility of the venture capitalist will determine equilibrium control allocation of project. If reservation utility of the venture capitalist is higher than social optimal welfare under first-order effort level, then venture capitalist control is an equilibrium control allocation. Otherwise, if such utility is less than or equal to social optimal welfare under first-order effort level, meanwhile, the cost of renegotiation approaches zero, entrepreneur control is an equilibrium control allocation; however, when the negotiation cost is not infinitesimal, contingent control is an equilibrium control allocation. Previous research has focused on the optimal allocation of control rights in venture capital contracts. It has been substantiated that entrepreneur control would achieve social efficiency without considering entrepreneur′s efforts. However, to the best of our knowledge, this result is misleading. On the one hand, merely concentrating on ex-post revenue leads the contract that the entrepreneur own control rights effectively achieve ex-post efficiency rather than social efficiency. On the other hand, the research fails to give the real reason why the contract in which venture capitalist control or contingent control is arranged cannot achieve social efficiency. In this paper, we find that inappropriate entrepreneur′s incentive that contracts impose on is the root of inefficiency after taking quality efforts and management efforts into account. If contracts fail to motivate the entrepreneur to put in first-order quality effort and management effort, then inefficiency arises. A small number of earlier studies also have considered entrepreneur′s efforts when examining optimal control rights allocation. It has been proposed that entrepreneur control cannot achieve ex-ante efficiency in the light of entrepreneur′s efforts. Venture capitalist control and contingent control are also confirmed to be unable to achieve social efficiency when incorporating entrepreneur′s efforts into the model. The research to some extent proves that appropriate control rights allocation is not the valid method to solve inefficiency associated with contract. However, as far as we concerned, the research has not correctly introduced entrepreneur′s efforts into the model since the probability of success which represents entrepreneur′s efforts cannot capture the entrepreneur′s working hard. The entrepreneur not only research markets, develops new product but manage the project. Different efforts lead to very different results and this cannot be captured by a simple proxy variable which measures the likelihood of success. Through a more careful examination on entrepreneur′s efforts, we propose that inadequate quality effort will result in poor quality of project and thus less expected revenue, whilst inadequate management effort directly cause loss of revenue. Consequently, only by allocating appropriate control rights that motivates the entrepreneur to put in first-order quality effort and management effort can the social efficiency be achieved. We corroborate that contingent control is such optimal allocation. This paper has made three main contributions to the current literature on contract theory and control rights allocation. First we provide a new insight into the relationship between entrepreneur′s efforts and social efficiency. By distinguishing between entrepreneur′s efforts, this paper reveals that inadequate quality effort and management effort are the roots of ex-ante inefficiency. Second, we provide a closer investigation on the optimal allocation of control rights. It is shown that entrepreneur control cannot make the entrepreneur put in right quality effort and leads the entrepreneur ex post take opportunistic action. And venture capitalist control may lead the entrepreneur do not put in quality effort and management effort at all. Both of the control rights allocations cannot achieve social efficiency. Only the contingent control is the optimal control rights allocation which can achieve social efficiency. Third, we provide determinants of equilibrium of control rights allocation and factors that influence the entrepreneur′s bargaining power through a comparative static analysis. We are confident that reservation utility of the venture capitalist is the determinant of equilibrium of control rights allocation. The higher the reservation utility is, the hard the entrepreneur retain some of the control rights. When the reservation utility is more than the social optimal welfare under first-order effort level, the entrepreneur must give up all the control rights to obtain finance from the venture capitalist. The profitability of project and investment climate are the primary factors that affect entrepreneur′s bargaining power. The higher potential profitability of project and better investment climate make entrepreneur have more chances to obtain finance and more bargaining power. Related Articles | Metrics

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A research on knowledge-coupled collaborative innovation model: A case study of Open NASA Yi Biyi, Zeng Li 2020, 41(5): 231-239.  Abstract ( 389 )   Innovation is the catalyst of economic development. In traditional industrial field, closed innovation is the main model of technological innovation. With the rapid development of modern telecommunication technology, the complexity of innovative activities has been increasing along with the emergence of many new types of innovation models, such as distributed innovation, cooperative innovation, open innovation, etc. Knowledge-coupled innovation model is a type of open innovation models, which is based on knowledge innovation and has successfully utilized the coupling of knowledge flow to solve the problems of information symmetry and incentive compatibility in collaborative innovation. Previous researches on the open innovation model mainly focused on the company alliance, and seldom discussed the interaction, nature, process and cases of coupled open innovation. This study, from a perspective different from technological innovation, theoretically focuses on the formation processes, basic principles and advantages of knowledge-coupled collaborative innovation model, and tries to further deconstructs the following three sub-problems: (1) determine the characteristics of each innovation model and their relations; (2) explore the core innovation elements and principles of coupled open innovation; (3) analyze the problems solved by knowledge-coupled open innovation. This paper, taking the defense science and technology innovation practice of National Aeronautics and Space Administration(NASA) as an example, analyzes the main ways to stimulate knowledge coupling, the open platform to support knowledge coupling and the basic steps to realize knowledge coupling. Through a systematical case study of Open NASA, this study found that by utilizing open source, challenge and crowdsourcing and through four stages (including defining collaborative tasks and rules; finding and incorporating external partners into collaborative systems; cooperating and innovating; co-creating and transforming collaborative results) to promote collaboration, the Open NASA platform can significantly expand the main body of innovation, stimulate innovation vitality and create a new research ecology. This mode has significant reference value for China′s national defense science and technology innovation.  Through the analysis of the formation processes, basic principles and advantages of the knowledge-coupled collaborative innovation model, this study finds that:(1) The initial closed innovation is the self-circulation technological innovation confined within the main body of innovation. Closed innovation has obvious organizational boundary, and the boundary is closed and impenetrable. As the boundaries of innovation organizations become permeable, the innovation model gradually develops from closed innovation to cooperative innovation. In cooperative innovation, the cooperative parties mainly take the form of joint innovation, while technological innovation still limits the cooperative parties to the outside world, which is still relatively closed. In order to overcome the limitation of cooperative innovation, Chesbrough proposed the concept of "open innovation". In this concept, "innovation" refers to the development and commercialization of new products, new processes, new services, or improved versions of them, and "open" refers to the flow of knowledge into or out of an organization. The essence of open innovation is "not of me, but for me". Knowledge-coupled innovation is a type of open innovation, which takes knowledge as the core innovation resource. "Knowledge-coupled" refers to knowledge flow can both enter the organization boundary from outside and exit from inside in the process of innovation. (3) The core of all innovation is knowledge innovation, which is the essential attribute of innovation. This is the basic principle of constructing knowledge-coupled open innovation model. (4) Compared with other open innovation models, knowledge-coupled innovation solves the problem of information symmetry and incentive compatibility from different perspectives. Based on the above theoretical research conclusions, this paper analyzes Open NASA, an open platform of NASA, as a practical case of knowledge-coupled open innovation model. The case of Open NASA indicates that:(1) Challenges, crowdsourcing, and open source are the main methods that adopted by Open NASA to stimulate knowledge coupling. These methods revolutionize innovation by engaging with non-traditional sources of innovative ideas. (2) Through the interaction on the platform, data, code and API flow out of NASA in the form of "knowledge raw materials", and innovative ideas, processes, products and even solutions flow into NASA in the form of "knowledge innovation results". This is the embodiment of Open NASA′s supporting knowledge coupling. (3) Open NASA realizes knowledge coupling through four basic steps. The first step is defining the collaborative tasks and rules, which is realized by constructing tasks, establishing cooperation rules and allocating resources. This step allows knowledge and innovation needs of NASA to "flow out" of organizational boundaries in the form of resources and "missions", and to solve information symmetry problems and achieve effective management within the constraints of cooperation rules. The second step is finding and incorporating external partners into collaborative systems. The specific performance of the steps is to find and screen the participants, to stimulate and attract the public. This step aims to attract a lot of external "smart brains" and stimulate more high-quality external knowledge to "flow" into the organizational boundaries. The third step is cooperating and innovating. This is the core step of knowledge-coupled open innovation. It is mainly about the management and control of the interactive collaborative innovation process. The forth step is co-creating and transforming collaborative results. The transformation and utilization of the achievements are not only driving inward, but also radiating outward. The essence of the achievements is the result of knowledge innovation. The transformation and utilization is an important link of knowledge coupling. The operation, development and maturing of the knowledge-coupled open innovation mode represented by Open NASA provide three inspirations for the exploration and evolution of the collaborative innovation mode of national defense science and technology in China:knowledge-coupled open innovation can (1) widely attract the wisdom of the masses, and significantly expand the strength of support; (2) innovate incentive mechanism, and greatly stimulate the vitality of innovation; (3) innovate the organizational model, and create a new scientific research ecology. However, when China′s national defense science and technology development and innovation imitates and applies Open NASA′s knowledge-coupled innovation model, it is necessary to study and introduce the basic elements such as intellectual property that meet China′s national conditions, so as to form a good innovation ecology. Related Articles | Metrics

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A research on the port low carbon evolution mechanism based on Gamma Function: A case study of Rizhao Port Guo Jin, Kuang Haibo, Yu Fangping 2020, 41(5): 240-249.  Abstract ( 207 )   Statistics showed that the port and shipping industry currently accounts for 2.6 percent of global greenhouse gas emissions. The port industry was under great pressure for energy conservation, emission reduction and green growth in the context of the current national implementation of the carbon emission reduction strategy. In fact, the formation of low carbon port depended on the optimization of energy consumption structure and the iterative upgrading of carbon emission reduction technology and the port self-reduction. There were ways for ports to reduce their own carbon emissions. For example, with the help of technological advances, such as the elimination of energy-intensive loading and unloading equipment and the use of shore power facilities. However, in the process of taking measures to promote carbon emission reduction, there were prominent problems such as high investment but poor carbon emission reduction effect. One of the important causes of the formation mechanism of low carbon port was unclear. In the long run, it may lead to a large deviation in the formulation of policies and measures related to the carbon emission reduction of port industry by traffic management departments. And the same time, it may also lead to some ports carbon emission reduction measures were not enough and the effect was poor. The existing literature have been discussed the forming mechanism of low carbon port evolution path mainly from the aspects of port technology, management and development. However, there were also the following shortcomings. Firstly, from the macro perspective, there was a lack of overall analysis of the formation mechanism of China′s low carbon port, but only from the driving factors of the formation mechanism of the micro perspective analysis. Secondly, the existing researches have not conducted in-depth analysis on the formation mechanism of low carbon port from the historical dimension of China′s low carbon port construction and development, nor have they revealed the driving factors that played a crucial role in this process. For this reason, this paper took Rizhao Port as an example to carry out in-depth research on the formation mechanism of low carbon port. Firstly, the low carbon development of Rizhao Port was divided into three stages from 1987 to 2017, and the characteristics and main driving factors of each stage were analyzed. Then, with the help of Gamma distribution function, the evolution model of low carbon formation mechanism without and within influencing factors was established, and the low carbon evolution model under the interaction of scale, technology and energy was analyzed. Finally, with the help of the Gamma model without influencing factors and within influencing factors, the low carbon evolution trend of Rizhao Port in 2018-2030 is simulated and analyzed, the optimal strategic path for the low carbon construction of Rizhao Port was found, and relevant countermeasures were proposed. The main conclusions were as follows: Firstly, the low-carbon development of Rizhao Port from 1987 to 2017 was divided into three stages, and the characteristics and main driving influencing factors of each stage were analyzed. Rizhao Port low carbon development has experienced its own stage of development and its carbon emission self-development phase (Characteristics: carbon emission rose steadily, but the unit throughput carbon emission has fallen sharply. The reason was scale effect), explore the practice phase (Characteristics: carbon emission has risen sharply, but the unit throughput carbon dropped significantly. The reasons were scale effect, energy effect and technology effect orderly) and policy support phase (Characteristics: carbon emissions fast rise, but the unit throughput carbon dropped steadily. The reasons were policy effect, technology effect and management effect orderly). Secondly, the evolution model of low carbon formation mechanism without and within influencing factors was established by means of Gamma function, and the low carbon formation mechanism and the low carbon evolution model of Rizhao Port under the interaction of scale, technology and energy were analyzed numerically. The empirical results show that the fitting effects of the Gamma models without influencing factors and within influencing factors were very good. The fitting degree of the formation mechanism model within influence factors was better than that without influence factors. With the continuous improvement of technology and energy effect, the carbon emission intensity of Rizhao Port also decreased. With the increase of port throughput scale, the carbon emission intensity of the port decreased slightly, but not obviously. The attenuation rate of Rizhao Port′s carbon emission intensity gradually decreased significantly with time migration. Finally, the low carbon evolution trend of Rizhao Port from 2018 to 2030 was analyzed by using the scenario simulation method, and the results showed that the carbon emission per unit cargo throughput was the smallest under the scenario of low growth + high efficiency (0%, 2%), which could decrease by 61.34% in 2030 compared with that in 2017. At the same time, this paper put forward the countermeasures for Rizhao Port′s next low carbon construction, which focused on improving technology and energy effect, management effect and cooperation effect. This paper also had two shortcomings. Firstly, Rizhao Port′s formation mechanism analysis had a short time span and cannot be compared with other typical low-carbon ports in China. Secondly, there was not enough quantitative analysis of the contribution of the main driving factors to the formation mechanism of Rizhao Port. So the quantitative contribution of more factors needed to be further studied. Related Articles | Metrics

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An analysis of the status quo and international competitiveness of China′s digital economy Wu Xiaoyi, Zhang Yajing 2020, 41(5): 250-258.  Abstract ( 574 )   Since the beginning of the 21st century, China′s digital level has continued to increase. The information technology innovation capability has gradually increased. And the data resource system construction has achieved remarkable results. The digital economy has become the fastest-growing, most innovative and most influential economic activity and the core competitiveness of national development, which occupies a leading position in the social economy, constantly injecting new vitality into global economic development and social progress. Therefore, this paper considers that analyzing the development status and international competitiveness of China′s digital economy is necessary in order to enhance China′s comprehensive strength in the field of digital economy. Existing research focuses on measuring the level of information and communication technology, lacking a comprehensive grasp of the connotation of digital economy, which leads to some deficiencies in the scientific and rationality of the index system it constructs. The research results may also be one-sided. In view of this, this paper puts forward that the digital economy is a new phenomenon combining technological innovation and economic activities. It can be interpreted from three dimensions including software and hardware infrastructure construction, information and communication technology level, and innovation and technology transformation capabilities, which analyze the development status of the domestic digital economy and its international competitiveness more comprehensively. The innovation of this research has two aspects. One is to study the new economy of the future economic growth of the digital economy, which has strong practical significance. The other is to construct a domestic and international index system for the development of the digital economy respectively. By analyzing the development status of China′s digital economy and its international competitiveness, the policy implications can provide useful reference for the development of China′s digital economy in the future. Based on data from 30 provinces and municipalities in China and cross-country data from 159 countries from 2003 to 2017, this paper measures digital economy from three dimensions of mobile network and talent cultivation, communication technology carrying capacity, and economic and technological foundations by principal component analysis and efficacy scores. The results show that: (1) From the perspective of the current domestic situation, Beijing, Guangdong, and Jiangsu rank the top three in terms of digital economy development. And Beijing ranks first in all three aspects including mobile network and talent training, communication technology carrying capacity, and economic and technological foundations. (2) According to the results of regional grouping, it can be found that the level of digital economy development in eastern China is much higher than that in the western region. The east area has the highest scores in the first-level indicators and comprehensive evaluation index, while the western region has the lowest score, indicating the widening digital gap between the eastern and western regions. (3) In terms of the indicators that characterize the development level of China′s inter-provincial digital economy, the regional differences in China′s communications technology carrying capacity and economic and technological base are far greater than the differences in mobile networks and talent training. The former two reflect the gap between the regional soft environment, and the latter reflect the gap between the hard environment such as network infrastructure and talent training. It shows that the development of the overall level of China′s digital economy depends more on the regional economic foundation and technology application capabilities. (4) From the perspective of international comparison, China′s digital economy ranks second in the world. In terms of talent innovation ability and information technology level, China ranks second and fifth respectively. In the field of talent innovation ability, the United States occupies the first place. And China ranks 28th in terms of infrastructure construction. So there is much room for improvement. The conclusions of this paper have important policy implications as follows: (1) It is necessary to strengthen the construction of digital economy infrastructure to provide application sites and infrastructure support for the development of digital economy, by speeding up the upgrade of network infrastructure, realizing digital interconnection among industries, increasing infrastructure investment in big data, cloud computing, cloud storage, Internet of things, artificial intelligence and other fields. (2) The layout of the digital economy industry should be optimized. In response to the current imbalance in the development of the digital economy, provinces and cities should formulate digital economy construction plans and cultivate a number of digital economy high-tech zones, agglomeration zones, and innovation bearing areas based on their own development advantages. For example, a national digital industry pilot demonstration cluster can be established relying on the "Made in China 2025" national demonstration zone in the Yangtze River urban agglomeration. In the construction of a pioneering demonstration zone, Shenzhen can be the center of a digital economic innovation and development experimental zone. (3) Policies should be made to promote the agglomeration of digital talents, by speeding up the establishment of digital economy-related majors in colleges and universities, jointly training digital talents, promoting the popularization of big data science courses and digital economy innovation labs from preschool education to high school education, and strengthening young people′s cognition of the digital economy. Meanwhile, preferential policies in household registration, housing, personal taxes, and children′s education should be made for relevant talents to attract them and promote the transition of knowledge-based to digital-based. 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A study of the spatial effects of financial agglomeration on regional economic growth of private sectors Zhang Xuan, Ran Guanghe, Chen Ke 2020, 41(5): 259-268.  Abstract ( 251 )   This paper studies the relation between financial agglomeration and regional economic growth of private sector. In China, private sector has been a significant component of national economy and the motivation which promotes the economic growth and marketization, taking important roles in promoting urban & rural economic prosperity, increasing revenues, expanding employment, improving people′s lives, optimizing economic structure and boosting economic growth, etc. Economic growth of private sector depends on the financial support. And financial agglomeration has been a trend of modern finance. Referring to a highly concentration of financial industry within a certain area and continuous gathering of financial capital within a certain space, financial agglomeration promotes not only the growth of financial amount but also the optimization of financial structure. As a special industrial cluster, financial agglomeration not only strengthens the basic functions of finance, but also promotes the efficiency of financial system, and in this way, can the capital amount be increased and the financial environment be improved to provide more financial support for expanding production, researching technology and upgrading management, and in this way be the economic growth of private sector boosted. On the contrary, economic growth of private sector supports the financial agglomeration with increasing capital, and motivates the financial agglomeration with increasing financing demands. It is valuable to study the relation between financial agglomeration and economic growth of private sector both theoretically and realistically. This study first analyzes the influences of financial agglomeration on economic growth of private sector both within and surrounding the regions with agglomeration effect and spillover effect. Financial agglomeration refers to the industrial cluster with financial regulators, intermediaries and enterprises gathering in a certain area and closely associated with other industries and departments. It provides capital for the real economic sector including private enterprises by intensifying the basic functions of financial sector, i.e. clearing and payment, financing and ownership diversification, capital transfer, risk management, information and incentives providing. It promotes not only the growth of financial amount, but also the optimization of financial structure. It is a special industrial cluster, as well as a reflection of financial development. Financial agglomeration has both "agglomeration effect" and "spillover effect": the former promotes the economic growth of private sector within the region, and the latter restrains at first and then promotes the economic growth of private sector in the surrounding regions with both "polarization effect" and "trickling-down effect". Based on the provincial panel data, this study calculates the financial agglomeration degree with principle component analysis. Both financial resources and private economy in China are distributed unbalancedly with a trend of gathering in the eastern areas. In the sample period (2004-2014), financial agglomeration in China varies in different areas, i.e. the eastern areas enjoy a higher financial agglomeration than the middle and western areas. Private economy in China also varies in different areas. Private economy in the eastern area is stronger than it in the middle or western areas. 〖JP3〗Then it studies the influences of financial agglomeration on regional economic growth of private sector with static and dynamic Spatial Durbin Models respectively. Generally, financial agglomeration in China cannot promote the regional economic growth of private sector effectively, and it develops unbalancedly in different areas. The regression results of static and dynamic Spatial Durbin Models show in the eastern areas, financial agglomeration has been mature with "trickling-down effect" appearing, and promotes the economic growth of private sector both within and surrounding the region. In the middle or western areas, financial agglomeration is still in the initial stage mainly with "polarization effect". It cannot promote the scale within the region, and has a negative effect on the economic growth of private sector in the surrounding regions. Besides, the private enterprises in the eastern and middle areas have paid attention to R&D, but the ones in the western areas still prefer to the scale expansion. In order to bring the private sector the benefits of financial agglomeration, i.e. to boost the economic growth of private sector with finance by solving the financing problems of private enterprises, it needs to strengthen the construction and reform of financial market in each area and their cooperation; to improve the financing capacity of private enterprises as well as their financial environment; and construct a cooperation mechanism of financial agglomeration and economic growth of private sector. It needs to improve the system of financial market, introduce the financial institutes and talents, promote the financial innovation, and optimize the financial environment to promote the effective gathering of regional financial resources. For the middle and western areas where the financial agglomeration is comparatively poorer, it needs to strengthen the investment invitation with preferential policies both on national and local levels. It needs to promote the financial marketization to allocate the financial resources effectively through market competition. It needs to make some policies and establish related institutes to expand the investment channels and improve the financial environment of private enterprises; it is also required to make some policies to stimulate the development of local private enterprises, and in this way, can the financing capacity of private enterprises be improved. Private enterprises should pay attention to management progress and technological innovation, and transfer totechnology-based development from investment-based development. It needs to make an agreement for interregional government cooperation, to allocate the financial resources effectively, and get rid of the financing problems of private enterprises due to the resource contention. It is also required to establish a communication and cooperation mechanism for related industries to promote the communication of managerial experience and technologies for enterprises, and make some policies to remove the interregional barriers of technology spillover. It needs to construct a positive interaction between financial agglomeration and economic growth of private sector. In each region, it should break the administrative restraints for financial resources, to provide the necessary capital support for private enterprises; when the regional private economy develops, the market attracts more financial resources, and improve the financial environment again, and in this way, a positive circle is formed. Related Articles | Metrics

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Effect mechanism of independence motivation and subjective norms on entrepreneurship intention Chen Ge, Shi Jin 2020, 41(5): 269-278.  Abstract ( 218 )   Nowadays, mass entrepreneurship and innovation is a fresh wave in China, and Chinese has published many policies to encourage and support entrepreneurship. And the after-90s young people are regarded as the generation who are influenced by western culture. They seem to take more highly of freedom, individuality, and independence. Therefore, to become an entrepreneur is an attractive choice for some college graduates. Many researchers focus on the drive for individual entrepreneurship. Many researchers agreed that the intention for entrepreneurship is the drive for individual entrepreneurial behaviors. Furthermore, the factors influence the entrepreneurship motivation arise researchers′ attention. The theory of planned behavior is one of effective models to interpret the effect mechanism. Factors in TPB, personal attitude towards entrepreneurship and perceived behavioral control are significant predict factors for entrepreneurship intention, while subjective norms′ effect on intention of entrepreneurship is still controversial. So do personal attitude towards entrepreneurship and perceived behavioral control still have impact on intention of entrepreneurship in China? Do subjective norms make effect on the entrepreneurship intention? What are the relationship among these factors? These questions are needed to be solved. And the other question is that there are quite different views on the source of the entrepreneurial intention. Some researchers hold the view that specific personal traits of entrepreneur make who they are, for example, grit, courage, and need for independence, which value the specific people. And the other researchers think the situation perceived by entrepreneurs, which value the specific situation. The researchers of this article hope to integrate both theories based on the Person-Situation Interactions Theory.  〖JP2〗Based on the Theory of Person-Situation Interactions, the researcher made an investigation among 370 post-90s young people in a college in Guangdong province, China, to discuss the effect mechanism of the motivation for the independence and subjective norms on the intention of entrepreneurship in Chinese context. The researchers made duplexing translation and cross check to make the scale asaccurate as possible. The researchers got back 370 effective questionnaires among 425 questionnaires. In this survey, male youngsters make up 34.6%, and female youngsters account for 65.4%, and most are 20-30 years old and 64.9% respondents don′t have any work experience. The researchers raise five hypotheses based on the literature. First, independent motivation makes influence on the intention for entrepreneurship through personal attitude towards entrepreneurship. Second, subjective norms make positive effects on the entrepreneurship intention. Third, subjective norms make impacts on the entrepreneurship intention through the attitude towards entrepreneurship. Forth, subjective norms makes effect on the entrepreneurship intention by perceived behavioral control. Fifth, need for independence negatively moderates the relationship between subjective norms and intention of entrepreneurship, which means the stronger need for independence, the weaker relationship between the subjective norms and entrepreneurship intention. The last one, the need for independence positively moderates personal attitude towards entrepreneurship and entrepreneurship intention. Then, the research applied confirmatory factor analysis to test the reliability and validity of factors. At last, Sobel mediation analysis and regression analysis were used to examine the hypotheses. The results of the research show that the motivation for independence positively affects the entrepreneurship intention by the complete mediating role of the personal attitude towards entrepreneurship′s complete mediating role; the subjective norms make the positive effect on positively affect the entrepreneurship intention directly, and it can also play the role indirectly by the personal attitude towards entrepreneurship and the perceived behavioral control plays as the mediating factor in the relationship between the subjective norms and the entrepreneurship intention. The results also present the need for independence moderates positively the relationship between the subjective norms with the entrepreneurship intention, and it moderates negatively the relationship between the personal attitude towards entrepreneurship with the entrepreneurship intention. Based on the person-situation interaction theory, this research tries to integrate the theory of critical traits for entrepreneurship intention and theory of perceived situation for entrepreneurship intention. And this research also extend the predict factors of the entrepreneurship invention. The result shows that the independence motivation makes effect on the intention for entrepreneurship through the personal attitude towards entrepreneurship. Younger who is chasing much independence tend to be entrepreneur because they don′t need to work for anyone except themselves. The subjective norms have the influence on the personal attitude towards entrepreneurship and perception of situation. In the same situation, some people feel more supported, so they are more optimistic and confident, and they don′t think it is very hard to start their own business. It makes them tend to be entrepreneurs. For the whole society, a relaxing and supportive social environment is necessary for youngsters. The research also finds that the need for independence is the important factor for entrepreneurship intention. Compared with youngsters who have high-level need for independence, those who have low-level need for independence prefer to start their own business when they received help and encourage from their families and friends because they don′t mind being dependent. Youngsters who hold positive attitude towards entrepreneurship with the high-level need for independence tend to choose entrepreneurship than those with low-level need, because entrepreneurs bear more responsibility for profits or losses of their own business. Therefore, the way to encourage youngsters seems to vary for people with different traits. There are still some limitations of this research: first, the questionnaire were collected at the some time. In the future, more questionnaires can be made at different time. Second, most questionnaire were finished by colleges in Guangdong Province, so the result may not be applicable for youngsters from other provinces or youngsters with different education background. Third, there are still bias in this research. In the future, there are some topics which can be further focus on. For examples, is there influence on intention of entrepreneurship from the interaction between other personal traits, like intention for achievement, risk aversion, with the perceived situation. Whether the results of this research are still applicable in other cultural context, according to Hofstede′s five dimensions. To conclude, there are still some further exploration about this topic. Related Articles | Metrics

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A study of the impact of university technology transfer on scientific research output——The mediating and moderating role of research funding Ma Rongkang, Jin He 2020, 41(5): 278-288.  Abstract ( 223 )   With the implementation of innovation-driven development strategy, Chinese universities, as an important part of China′s innovation system, must not only undertake the basic functions of teaching and scientific research, but also undertake the social service functions of transforming scientific and technological achievements into productive forces (the "third mission" of universities). As an important form of the "third mission" of universities, the technology transfer activities of Chinese universities have grown rapidly. Therefore, the academic community has raised new concerns about the technology transfer of Chinese universities, which relate to that is the commercialization-oriented technology transfer activity good or bad for the scientific research activities? This paper thus focuses on the impact of university technology transfer on scientific research outputs. Based on the literature on the influence of university technology transfer on scientific research activities, we argue that universities can obtain financial support for research activities through technology transfer, and can also interact with enterprises to obtain new ideas for scientific basic and applied research. Thus, university technology transfer has significant positive impacts on its publication and patent outputs (H1 and H2). Then, we discuss the different nature of government and private research funding, and propose that universities that realize technology transfer can not only convey the signals that the research results and academic standards are recognized to the government and peers, but also help to combine scientific research ideas with the country′s major needs. Thus, university technology transfer has a significant positive impact on its access to government funding (H3). Government funding play mediating roles in the positive impact of technology transfer on the publication and patent outputs (H4a and H4b). Meanwhile, we argue that universities engaged in technology transfer have the experience of industrializing basic and applied research results, and can also convey the practicality of scientific research results to the industry and obtain more industrial financial support. Thus, university technology transfer has a significant positive impact on its access to private funding (H5). Private funding play mediating roles in the positive impact of technology transfer on the publication and patent outputs (H6a and H6b). Finally, we suggest that as the funding basis for scientific research activities in universities, government funding and private funding may also affect the degree of demand and utilization efficiency of universities′ technology transfer. When universities have more government funding, the level of funding required by researchers for technology transfer activities is relatively low. And also, when universities have more private funding, it will have reduced demand for financial support and learning opportunities from technology transfer activities. Thus, we propose that government funding plays negative moderating roles in the positive impact of technology transfer on university publication and patent outputs (H7a and H7b). And private funding also plays negative moderating roles in the positive impact of technology transfer on university publication and patent outputs (H8a and H8b). Using a dataset of technology transfer and scientific research of 106 Chinese universities belonging to "211 Project" or co-sponsored by province and ministry in 2008-2014, we examine the impact of universities′ technology transfer on their publication and patent output, and also explore the mediating and moderating roles of government and private research funding. The results show that, first, the university technology transfer has heterogeneous effects on different types of scientific research output. Specifically, universities′ technology transfer has no impact on the quantity of their publications, but has a significantly positive impact on their patent applications. Second, universities′ technology transfer has significantly positive effects on both the government and private funding, and the mediating roles of government and private funding in the relationship between universities′ technology transfer and patent output are confirmed. Third, government funding negatively moderates the relationship between universities′ technology transfer and their publication output, while private funding negatively moderates the relationship between universities′ technology transfer and their patent output. The contributions of this article are as follows: First, we reveal that the effect of technology transfer on the research output of different natures is not the same, thus expanding our understandings about the effects of universities′ technology transfer activities from the perspective of the nature of research activities (basic or applied nature). This paper finds that the positive impact of technology transfer in China′s universities on publication output is not significant, which is different from the positive findings of existing research on US and German. This suggests that excessive technology transfer activities do have negative effects such as biased application research and delayed paper publication, thus offsetting the potential benefits. In contrast, the applied research of universities in China has benefited a lot from technology transfer activities, which is conducive to creating more invention patents. Second, starting from the chain of scientific research activities, the research funding sources are included in the research framework of the effects of universities′ technology transfer, which verifies the mediating roles of government and private research funding in the relationship between university technology transfer and patent output. Thus, our research deepens the understanding about the influencing process of the university technology transfer on its scientific research outputs. To sum up, university technology transfer can be used as a signal to convey the reputation and academic level of researchers and attract government and private financial support, thus promoting the outputs of applied research. Finally, the study also finds the moderating effects of government and private research funding on the impact of universities′ technology transfer, and identifies the financial conditions on the role of university technology transfer in its scientific research outputs. Different from the existing research which only focus on the direct impact of research funding on the scientific research outputs, this paper confirms that government and private funding are the contextual factors of scientific research activities in universities. Government funding mainly constricts the role of technology transfer in universities′ basic research activities, while private funding mainly constricts the role of technology transfer in universities′ applied research activities, thus deepening our understanding about the diverse mechanisms of research funding from different sources. Related Articles | Metrics