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Resource mobilization has come to dominate contemporary discourse on the making and survival of social enterprises (SEs). Emphasizing the socially constructed nature of idiosyncratic firm resource environments, this study integrates bricolage and social exchange theory to explore the means at hand and the kinds of practices SEs in China employ to mobilize resources to address persistent social problems.

Adopting a qualitative multiple case design, the research contribution is developed in the context of four SEs based in two cities in China selected through a two-stage process. The main data for the inquiry come from 21 face-to-face, semi-structured interviews conducted with key informants in 2018 and 2019. The authors supplemented this with secondary data about each SE curated from social media platforms and publicly available documentary sources, including press statements, reports and popular press video interviews.

The research findings suggest that SEs in China tend to follow a two-step resource mobilization process: fraternize and exchange. Leveraging the means at hand – “social practice know-how” and the practice of “proactiveness,” SEs strategically engage with actors in their environment (fraternize) to understand and explore the possible sources of the resources they require. Nevertheless, fraternization alone is not sufficient; SEs must demonstrate exchange values (social, economic, functional and regulatory) to convince resource owners to either directly release resources (funds, the right of use of empty spaces, technologies, time and efforts) or offer them indirect support (certification, government procurement). The process of fraternizing within the contingencies of organizing, intertwined with social exchange practices, constitutes the success of resource mobilization. The combination and reconfiguration of the expanded repertoire of mobilized resources provide opportunities for the SEs to make do and, in return, help them maintain their status as valued SEs in China.

This study extends the understanding of bricolage through a social exchange lens to unpack the process through which SEs in China mobilize appropriate resources for their businesses. Emphasizing the importance of the social dimension of bricolage in resource mobilization, a two-step model, comprising fraternization exhibited in the form of social practice know-how and proactiveness and social exchange, is presented as an essential mechanism in SEs’ resource mobilization in China.

The purpose of this study is to examine the impact of cross-ownership on corporate digital innovation and their specific mechanisms. Cross-ownership, who hold equity in two or more companies simultaneously, have two different types of governance effects in the capital market: governance synergistic effects and competitive collusion effects.

This paper uses a panel model, selecting A-share company data from 2011 to 2021 in China. In total, 23,853 valid data were obtained, which came from the CSMAR database and Wind database. For some missing data, they were manually supplemented by consulting the company's annual report and Sina Finance. Data processing was conducted using EXCEL and Stata16.0 software.

The results show that cross-ownership promote corporate digital innovation by leveraging governance synergies. Further grouping tests show that the synergistic effects of cross-ownership are significant in non-state-owned, high-tech, weakly competitive and higher analyst attention enterprises. Mechanism testing shows that cross-ownership can empower corporate digital innovation in three ways: reducing information asymmetry, alleviating financing constraints and improving corporate governance.

The conclusion of this paper provides new empirical evidence for a comprehensive understanding of the role of cross-ownership in corporate development, enriches the economic consequences research of chain institutional investors in China and broadens the research perspective of corporate digital innovation. It also provides important references for the digital transformation of enterprises and the healthy development of the capital market.