Search results

This study aims to examine the impact of digital transformation on firms’ value and explore the mediating impact of ESG performance and moderating impact of information interaction.

Data was collected from companies listed on the Shanghai and Shenzhen stock exchange between 2012 and 2020 with 21,488 observational samples, featuring a selection of 3,348 companies. Panel data regression techniques were used to test the mediating role of ESG performance and the moderating role of information interaction.

The study found that digital transformation can improve firms’ ESG performance, which in turn positively affects their value. The firms that engage in more interaction with outsiders benefit more from digital transformation and have a higher value.

This study provides new theoretical insight into improving firms’ value through digital transformation and ESG performance. It is the first to discuss and study the moderating role of information interaction in the relationship between digital transformation and firms’ value.

This paper aims to systematically demonstrate a methodology to determine the relative and absolute encapsulation efficiencies (α_Re and α_Ab) for thermally- and chemically-robust inorganic pigments, typically like ZrSiO₄-based pigments, thereby enhancing their coloring performance.

The authors designed a route, surplus alkali-decomposition and subsequently strong-acid dissolution (SAD2) to completely decompose three classic zircon pigments (Pr–ZrSiO₄, Fe₂O₃@ZrSiO₄ and CdS@ZrSiO₄) into clear solutions and preferably used inductively coupled plasma-optical emission spectrometry (ICP-OES) to determine the concentrations of host elements and chromophores, thereby deriving the numeric data and interrelation of α_Re and α_Ab.

Zircon pigments can be thoroughly decomposed into some dissoluble zirconate–silicate resultants by SAD2 at a ratio of the fluxing agent to pigment over 6. ICP-OES is proved more suitable than some other quantification techniques in deriving the compositional concentrations, thereby the values of α_Re and α_Ab, and their transformation coefficient K_RA, which maintains stably within 0.8–0.9 in Fe₂O₃@ZrSiO₄ and CdS@ZrSiO₄ and is slightly reduced to 0.67–0.85 in Pr–ZrSiO₄.

The SAD2 method and encapsulation efficiencies are well applicable for both zircon pigments and the other pigmental or non-pigmental inhomogeneous systems in characterizing their accurate composition.

The authors herein first proposed strict definitions for the relative and absolute encapsulation efficiencies for inorganic pigments, developed a relatively stringent methodology to determine their accurate values and interrelation.

Drawing on self-determination theory, this study reveals the formative and functional mechanism of entrepreneurial leadership and constructs an integrated model that combines objective and subjective career success.

Using data from 189 leaders from China, this study examined the relationship among cognitive style, social norms, entrepreneurial leadership and career success. Using SPSS version 25.0 and AMOS version 23.0, factor analysis, correlation, path analysis and moderation analysis were performed.

The results indicated that innovative cognitive style is positively related to entrepreneurial leadership, and this relationship is reinforced by social norms. Adaptive cognitive style is negatively related to entrepreneurial leadership, but this relationship is not regulated by social norms. Besides, this study found a significantly positive relationship between entrepreneurial leadership and objective career success, while entrepreneurial leadership does not demonstrate a significant relationship with subjective career success.

By combining subjective and the objective career success into entrepreneurial leadership research, the findings provide a new perspective for understanding what other experiences entrepreneurship can bring to leaders. Furthermore, the current study analyzes the informal institutional environment's promoting and impeding roles between cognitive style and entrepreneurial leadership.

The purpose of this paper is to employ an emerging phenomenon in China concerning collaborative carbon emission reduction (CCER) to investigate: first, the coordination of suppliers and manufacturers within supply chains to reduce carbon emissions, and second, the role of governmental policy in facilitating this process.

This paper draws upon evolutionary game theory to develop an evolutionary game model for CCER for suppliers and manufacturers within supply chains. This includes a detailed analysis of the evolutionary direction and process in different areas, both with, and in the absence of, governmental subsidies.

The results demonstrate that CCER is path dependent and that its evolutionary process is influenced by the following four factors: the initial status within supply chains; the cost; the additional benefit; and the investment risk related to CCER. The research also reveals that the reward provided by manufacturers is rational over the long term, due to the excessive cost of incentives potentially preventing the implementation of CCER.

This study represents the first attempt to investigate CCER within supply chains through the application of an evolutionary game-theoretic model. The investigation of multiple factors in the model will deepen understanding of the collaborative role required for the carbon emission reduction.

The purpose of this paper is to summarize the advances in grey system theory research and various application achievements in science and engineering. At the same time, it commemorates the 40th anniversary of the birth of grey system theory and the 10th anniversary of Grey Systems–Theory and Application.

Firstly, the innovations of theoretical research in grey system theory were summarized and some of the widely recognized new results are briefly described. By searching and combing the research results of grey system theory in China national knowledge infrastructure (CNKI) database and Web of Science by Institute for Scientific Information (ISI), this paper shows the rapid development trend of grey system theory in the past 40 years, and the successful applications of grey system theory in the fields of social sciences, natural sciences and engineering technologies.

More than 227 thousands literature were found by input 10 phrases such as grey system, grey number and sequence operator etc. in CNKI database. After entering the new century, the number of grey system papers included in CNKI database is increasing rapidly. Since 2008, more than 10 thousands papers have been included per year and more than 15 thousands papers have been included per year since 2014. Grey system method and model are widely used in physics, chemistry, biology and other fields of natural science, as well as transportation, electric power, machinery and other fields of engineering technology, and a large number of valuable results have been achieved.

It can be seen that the grey system theory plays an important role in promoting China’s scientific and technological progress, innovation and development and high-level talent training from tens of thousands of literatures marked with important national science and technology projects and a large number of grey system literatures published by China’s double first-class universities and double first-class discipline construction universities.

Both innovations of theoretical research and practical application play important role in the growth of new theory. The innovations of theoretical research provide methods and tools for practical application, which is conducive to improve application efficiency and broaden application fields. A large number of practical applications needs have become the source of theoretical innovation and the solid background for the birth of theoretical innovation achievements.

Digital transformation misalignment refers to disparities in digital transformation levels between suppliers and buyers across the production and operation process. It has negatively affected supply chain stability. However, the existing research concerning the economic consequences has not been adequately addressed. Therefore, this paper aims to investigate whether such digital transformation misalignment increases supplier financial risk and to identify the factors influencing this relationship.

This paper examines binary combinations of suppliers and buyers listed on China’s A-share market between 2011 and 2021. This group constitutes a sample to empirically test the influence of digital transformation misalignment on the supplier’s financial risk, as well as the moderating effect of the geographical and organizational distances.

The paper’s findings demonstrate that digital transformation misalignment has indeed a significant increase in the supplier’s financial risk. Moreover, the impact is more intense when the geographical or organizational distance between the supplier and the buyer is relatively large.

The existing literature rarely explores the potential risks arising from digital transformation misalignment between supply chain partners. Therefore, this paper fills a notable gap as it is the first to study the impact of digital transformation misalignment on the supplier’s financial risk and the specific applied mechanisms. The contribution significantly improves the field of corporate digital transformation, particularly, within the context of supply chain management.

Based on the theory of “optimal contracting approach” and “the managerial power approach”, this paper aims to investigate whether senior executives of listed companies in China make use of their power to gain their own private benefits. The paper also compares compensation contracts between state- and private-owned enterprises to test whether there is a significant difference between senior executives from different ownership types of enterprises in terms of compensation contracts.

The paper raises four hypotheses based on the theories of “company agency”, “optimal contracting approach” and “managerial power approach”. After that, 5,680 A-share-listed companies of stock market in Shanghai and in Shenzhen Stock Market from 2008 to 2012 were taken as research samples to conduct a series of research analysis, including t-test, reliability analysis and regression analysis, with the help of SPSS 18.0.

The senior executives of listed companies in China could make use of their power to increase their own salary to gain power pay and, at the same time, company performance, company size and other factors that are important to influence the executive compensation. This paper further argues that senior executives of private-owned listed companies are more likely to use their power to obtain power pay and increase their own compensation. Additionally, the agency costs of Chinese listed companies are negatively related to the performance pay of senior executives, whereas there is no obvious negative correlation with the power pay of senior executives.

This paper takes multiple, in-depth approaches to study the relationship among managerial power, agency cost and executive compensation and to find out the differences in compensation contracts of senior executives between private-owned listed companies and state-owned companies. It also provides necessary suggestions to ensure the interests of stockholders, such as: optimizing the management structure of listed companies; improving the transparence of information disclosure of listed companies; establishing effective mechanism of incentive and constraint; and improving and standardizing the market of professional managers.

The compensation contract of senior executives in China is critical to enhance enterprises’ performance, and it will become an important factor that will facilitate the interests of stockholders and management. However, this paper argues that some phenomena of over-payment of senior executives in listed companies cannot be explained by the theory of “optimal contracting approach”, but it is necessary and important to compare the differences of compensation contract of senior executives between private-owned listed companies and state-owned companies. A series of findings are proposed in this paper.

This paper made use of a principal analysis to extract the main factors that could represent the managerial power from different angles. In addition, this paper also compared the differences between compensation contracts of senior executives between private-owned listed companies and state-owned companies. Additionally, in this paper, the compensation of senior executives was divided into “power compensation” and “performance compensation”, which were used to test the relationship with the management cost of companies.

Although well established in North America and Europe, the study of supply chain management (SCM) is still at a relatively early stage in its development in China. The transformation and rapid growth of the Chinese economy has, nevertheless, created major supply chain challenges for the country making SCM a very fertile area of business research. In Western countries, research on SCM is now mature and underpinned by a solid body of theory. The purpose of this paper is to examine the extent to which research on SCM in China has also developed a theoretical basis.

The research involved a systematic review of 150 papers published in 18 journals in the fields of SCM, logistics, operations management and marketing during the period 2004-2014. A three-step process was adopted to select appropriate journals, identify relevant articles and classify them in terms of their theoretical content.

The study has confirmed that, because of its unique economic, political and cultural setting, supply chain development in China has presented new research challenges. Many examples were found of researchers conducting quasi-experiments to test the applicability of established theories to Chinese supply chains while others have tried to develop new ones that are more closely aligned with the Chinese economy and management practices. Researchers have exhibited a heavy reliance on existing theories, with relatively few attempting to customise them to the Chinese context or to construct new ones.

Given the broad scope of SCM, it is possible that the journal and paper selection processes have accidentally screened out relevant papers. The total sample of papers is, nevertheless, large for an explorative study of this type and should, therefore, give an overall impression of the level of theory development in Chinese SCM research.

This study provides a general framework within which to assess the application and development of theories in the Chinese SCM context. It is principally concerned with three components: the SCM phenomena studied, the Chinese business environment and the theoretical contribution of the research. The paper is targeted more at an academic audience than practitioners, though provides an overview of the research so far undertaken on SCM in China that should be of wider interest.

This study is the first of its kind to review China-based SCM research systematically from the perspective of theory development. It should support the evolution of SCM theory not only in China but also more generally.

This paper aims to compare the Greek and Chinese rhetorical traditions and explore their influences on today’s business and marketing communication across relevant cultures. In particular, it uses the Aristotelian persuasive orientations as reference points to introduce the Chinese rhetoric, and interpret cultural differences in persuasion from a historical and sociocultural perspective. It has been found that Greek and Chinese rhetoric and persuasion were developed to meet the needs of the social and cultural environments and this rule still applies to today’s business communication. The logical approach has been emphasised in the English rhetorical tradition while both qing (emotional approach) and li (logical approach) are the focus of persuasion in the Chinese tradition. This difference is also the root of cultural differences in modern business communication. Findings from both English and Chinese texts and data are examined to substantiate our focal argument.

Smart contracts are written in high-level programming languages, compiled into Ethereum Virtual Machine (EVM) bytecode, deployed onto blockchain systems and called with the corresponding address by transactions. The deployed smart contracts are immutable, even if there are bugs or vulnerabilities. Therefore, it is critical to verify smart contracts before deployment. This paper aims to help developers effectively and efficiently locate potential defects in smart contracts.

GethReplayer, a smart contract testing method based on transaction replay, is proposed. It constructs a parallel transaction execution environment with two virtual machines to compare the execution results. It uses the real existing transaction data on Ethereum and the source code of the tested smart contacts as inputs, conditionally substitutes the bytecode of the tested smart contract input into the testing EVM, and then monitors the environmental information to check the correctness of the contract.

Experiments verified that the proposed method is effective in smart contract testing. Virtual environmental information has a significant effect on the success of transaction replay, which is the basis for the performance of the method. The efficiency of error locating was approximately 14 times faster with the proposed method than without. In addition, the proposed method supports gas consumption analysis.

This paper addresses the difficulty that developers encounter in testing smart contracts before deployment and focuses on helping develop smart contracts with as few defects as possible. GethReplayer is expected to be an alternative solution for smart contract testing and provide inspiration for further research.