Donghui Li, Yingdong Liu, Minxing Sun, Xinjie Wang and Weike Xu
This paper aims to answer three questions: (1) Which countries invest more capital in green firms? (2) What kind of industries do venture capitals (VCs) invest in? (3) Do VCs…
Abstract
Purpose
This paper aims to answer three questions: (1) Which countries invest more capital in green firms? (2) What kind of industries do venture capitals (VCs) invest in? (3) Do VCs invest more capital in green firms?
Design/methodology/approach
First, the authors provide summary statistics of the key variables for green and non-green firms. Then the authors use figures to plot the growth of green firms over time. Next, the authors use descriptive data to study VC-invested firms for the top 10 countries and industries for all firms, green firms and non-green firms. Finally, the authors compare the VC investors' characteristics and investment behavior between green and non-green firms.
Findings
This study documents that venture-backed investments in clean technologies have increased dramatically in the number of deals and in the total amount of dollar volume over time. This paper provides evidence that VC firms invest more in green firms in each deal than in non-green firms. The United States and European countries play an important role in funding clean technologies across countries, and this study’s results suggest that VC investors play a considerable role in shaping the development of green finance.
Originality/value
This paper makes the first attempt to investigate the role of VCs in clean technologies to support carbon neutrality, providing initial evidence on venture capitalists' investment efforts towards carbon neutrality. The paper also has practical implications for start-up firms that raise capital and venture capitalists who finance green start-ups.
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Xinbo Sun, Donghui Zhao, Dapeng Zhang and Feng Tian
The concept of entrepreneurship in platform enterprises has evolved and developed. The purpose of this paper is to explore how entrepreneurship in platform enterprises can be…
Abstract
Purpose
The concept of entrepreneurship in platform enterprises has evolved and developed. The purpose of this paper is to explore how entrepreneurship in platform enterprises can be transformed into the sustainable innovation capability of enterprises based on knowledge integration.
Design/methodology/approach
This study adopts a questionnaire survey. The research samples are mainly from well-known domestic platform enterprises, EMBA students and professional online websites, 389 valid questionnaires were collected.
Findings
The results show that entrepreneurship has a positive impact on the sustainable innovation capability of platform enterprises, knowledge integration plays a partial mediating role between entrepreneurship and sustainable innovation capability of platform enterprises. Shared leadership plays a moderating role between entrepreneurship and knowledge integration and knowledge-sharing atmosphere plays a moderating role between knowledge integration and sustainable innovation capability of platform enterprises.
Originality/value
This paper emphasizes the key role of entrepreneurship in platform enterprises on the sustainable innovation capability and discusses the realization path of the sustainable innovation capability of platform enterprises from the perspective of knowledge integration, which is of great significance for developing the research system of entrepreneurship and promoting the construction of sustainable innovation capability of platform enterprises.
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Marc Steffen Rapp and Oliver Trinchera
In this paper, we explore an extensive panel data set covering more than 4,000 listed firms in 16 European countries to study the effects of shareholder protection on ownership…
Abstract
In this paper, we explore an extensive panel data set covering more than 4,000 listed firms in 16 European countries to study the effects of shareholder protection on ownership structure and firm performance. We document a negative firm-level correlation between shareholder protection and ownership concentration. Differentiating between shareholder types, we find that this pattern is mainly driven by strategic investors. In contrast, we find a positive correlation between shareholder protection and block ownership of institutional investors, in particular when we restrict the analysis to independent institutional investors. Finally, we find that independent institutional investors are positively associated with firm valuation as measured by Tobin’s Q. The opposite applies for strategic investors. Overall, our results are consistent with the view that (i) high shareholder protection and (ii) limited ownership by strategic investors make small investors and investors interested in security returns more confident in their investments.
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The purpose of this paper is to examine the life worlds of Tibetan students who participate in China’s inland boarding programs and seek to understand the social networks they…
Abstract
Purpose
The purpose of this paper is to examine the life worlds of Tibetan students who participate in China’s inland boarding programs and seek to understand the social networks they develop in the Han-culture dominant school settings.
Design/methodology/approach
This study is based on ethnographic fieldwork with two Tibetan students (Dorji and Lhamo) in a Beijing inland boarding high school.
Findings
This study found that the Tibetan students are capable social actors who construct two kinds of social networks, the “we” group (co-ethnics) vs the “they” group (cross-ethnics), and mobilize different social capitals strategically. The former provides them with emotional support, cultural affinity and a sense of belonging, while the latter helps them achieve instrumental outcomes, such as Mandarin proficiency, academic improvement and broadened horizons.
Research limitations/implications
However, the group boundary they draw between the two kinds of networks reflects the futility of government efforts to promote interethnic integration through the inland schools.
Originality/value
The issue of minority students as active agents in constructing social networks and mobilizing social capital in unfamiliar sociocultural settings is a relatively new research area (Reynolds, 2007; Holland et al., 2007), whereas the Tibetan students in China are among the least known in the existing scholarship.
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Zhonghai Su, Xinbo Sun and Donghui Zhao
Enterprises generally change their organizational structures in an era of uncertainty for flexibility, and accordingly, employee entrepreneurship emerges as employees gain more…
Abstract
Purpose
Enterprises generally change their organizational structures in an era of uncertainty for flexibility, and accordingly, employee entrepreneurship emerges as employees gain more power and responsibility during this process. This paper aims to explore how employee entrepreneurship impacts enterprises’ sustainable innovation capability. The authors consider the mediating effect of value cocreation and the moderating effect of role stress.
Design/methodology/approach
The authors adopted a questionnaire survey to test the hypothesis, and 356 questionnaires were collected from an online questionnaire platform.
Findings
The results show that employee entrepreneurship has a positive impact on sustainable innovation capability, value cocreation plays a partial mediating role in this relationship between employee entrepreneurship and value cocreation and role stress plays a negative moderating role in the relationship between employee entrepreneurship and value cocreation.
Research limitations/implications
The study makes three main contributions to the literature concerning entrepreneurship and enterprise sustainable innovation capability. First, in relation to the entrepreneurship literature, the authors shift entrepreneurship research from entrepreneurs/leaders to employees in the digital transformation context and specify the connotation of employee entrepreneurship. This shift further enriches and broadens the research boundary of entrepreneurship (Bhide, 2000; Djankov et al., 2006). Second, we add the micro dynamic mechanism of sustainable innovation capability by focusing on the effect of employee entrepreneurship. Employee entrepreneurship positively contributes to enterprise sustainable innovation capability, which is partially mediated by value cocreation, and its impact on value cocreation is moderated by role stress due to the identity change of employees in the digital transformation context. The authors answer calls to clarify the micromechanisms of building enterprise competitive advantage (Terziovski and Sohal, 2020). The research confirms the relationship change between enterprises and consumers in value creation from separation to cooperation (Tu et al., 2020; Costa and Hafto, 2021). Additionally, the authors discuss the dynamic mechanism and factors of value cocreation at the employee level and further verify the positive effect of an active interaction among enterprises, consumers and other value creators (Matarazzo et al., 2021; Heinonen et al., 2013). This approach compensates for the deficiency of previous studies investigating the influence of value cocreation at the level of organization members.
Practical implications
The theoretical analysis and empirical conclusions of this study have important practical implications. First, employee entrepreneurship positively impacts enterprises’ sustainable innovation capabilities. Therefore, enterprises should stimulate their employees’ entrepreneurship to strengthen organizational resilience and adaptability, which are important for enterprises to survive in the changeable age. For example, enterprises can authorize their frontline employees with more resource allocation power and reduce hierarchical control; thus, their employees can address emergencies in a timely manner and catch fleeting market opportunities. Second, since value cocreation is a partial mechanism by which employee entrepreneurship contributes to an enterprise’s sustainable innovation capability, enterprises should help employees improve their capabilities and knowledge for value cocreation. For instance, enterprises should develop decision-making support toolkits, upscale training courses and efficient coordination tools to help employees achieve the necessary skills and knowledge. Only in this way can they qualify to perform an increasing number of autonomous tasks. Finally, employees’ role stress negatively moderates the relationship between employee entrepreneurship and value cocreation. This finding provides a reference for enterprises in position setting, role rule-making, role responsibility-planning, etc. Specifically, enterprises should build a feedback mechanism to manage employees’ role ambiguity, conflict and overload; thus, they can eliminate the potential negative effects on value cocreation and their sustainable innovation capability in a timely manner.
Originality/value
This study expands the boundary and connotation of entrepreneurship in an era of uncertainty, specifies the micromechanism of sustainable innovation capability and provides new insights for enterprises constructing their sustainable innovation capability.
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Donghui Hu, Shenyou Song, Zongxing Zhang and Linfeng Wang
This paper aims to figure out the conundrum that the corrosion resistance longevity of steel wires for bridge cables was arduous to meet the requirements.
Abstract
Purpose
This paper aims to figure out the conundrum that the corrosion resistance longevity of steel wires for bridge cables was arduous to meet the requirements.
Design/methodology/approach
The “two-step” hot-dip coating process for cable steel wires was developed, which involved first hot-dip galvanizing and then hot-dip galvanizing of aluminum magnesium alloy. The corrosion rate, polarization curve and impedance of Zn–6Al–1Mg and Zn–10Al–3Mg alloy-coated steel wires were compared through acetate spray test and electrochemical test, and the corrosion mechanism of Zn–Al–Mg alloy-coated steel wires was revealed.
Findings
The corrosion resistance of Zn–10Al–3Mg alloy-coated steel wires had the best corrosion resistance, which was more than seven times that of pure zinc-coated steel wires. The corrosion current of Zn–10Al–3Mg alloy-coated steel wires was lower than that of Zn–6Al–1Mg alloy-coated steel wires, whereas the capacitive arc and impedance value of the former were higher than that of the latter, making it clear that the corrosion resistance of Zn–10Al–3Mg was better than that of Zn–6Al–1Mg alloy coating. Moreover, the Zn–Al–Mg alloy-coated steel wires for bridge cables had the function of coating “self-repairing.”
Originality/value
Controlling the temperature and time of the hot dip galvanizing stage can reduce the thickness of transition layer and solve the problem of easy cracking of the transition layer in the Zn–Al–Mg alloy coating due to the Sandelin effect.
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Fuping Bai, Mengting Shang, Yujie Huang and Donghui Liu
Based on resource-based theory and intellectual capital theory, this paper aims to investigate the impact of digital investment on enterprise value and the mediating role of…
Abstract
Purpose
Based on resource-based theory and intellectual capital theory, this paper aims to investigate the impact of digital investment on enterprise value and the mediating role of intellectual capital. Additionally, it explores the heterogeneous impacts of digital investment on enterprise value and intellectual capital.
Design/methodology/approach
The study utilizes a sample of listed companies in Chinese A-shares from 2013 to 2020. The entropy-weighted method is applied to measure digital investment from two dimensions: scale and increment. Finally, the research hypotheses are tested through multiple regression analysis.
Findings
The empirical results demonstrate that digital investment significantly and positively impacts enterprise value. From the channel mechanism test, digital investment can enhance enterprise value by influencing intellectual capital through human, structural and relational capital. Of these, the mediating effect of human capital is the most significant. Moreover, the impacts of digital investment on enterprise value and intellectual capital are related to the industry sectors. In the agricultural sector, digital investment has adverse effects. In the industrial and service sectors, digital investment promotes intellectual capital and enterprise value. However, in the service sector, the impact on relational capital is not significant, and the mediating effect of relational capital does not hold.
Research limitations/implications
This research has a limited potential for generalization due to the lack of standard measurement models for the exploration of digital investment.
Practical implications
The research findings are valuable for assessing the economic effects of digital investment comprehensively and providing essential information for policy formulation and strategy implementation.
Originality/value
This study represents the first attempt to evaluate the relationship between digital investment and enterprise value using the entropy-weighted method. In addition, this study investigates the mediating role of intellectual capital.
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Shuang Xu, Zulnaidi Yaacob and Donghui Cao
This study aims to explore how transformational leadership influences employees' creativity by considering the role of the environment and psychology. The study aims to provide…
Abstract
Purpose
This study aims to explore how transformational leadership influences employees' creativity by considering the role of the environment and psychology. The study aims to provide insights into the impact of transformational leadership on team innovation climate, team reflexivity, psychological capital and employee creativity while also examining the moderating effect of environmental dynamism on these relationships.
Design/methodology/approach
This study employed a multi-source, multi-wave approach, utilizing data from 618 participants in 118 teams. It constructed a multilevel structural equation model and estimated the confidence intervals of the mediated and moderated effects using the Markov chain Monte Carlo method.
Findings
The results of the multilevel analyses indicated that transformational leadership positively influenced the team innovation climate, team reflexivity, psychological capital and employee creativity. Moreover, the study found that environmental dynamism positively moderates the relationships among transformational leadership, team reflexivity, psychological capital and employee creativity.
Originality/value
Drawing on social cognitive theory and the motivated information processing in groups model, this study offers new insights into the interplay between transformational leadership and creativity. It examines the moderating role of cross-level process linkages and environmental dynamism, thereby validating and extending relevant theories.
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Donghui Yang, Yan Wang, Zhaoyang Shi and Huimin Wang
Improving the diversity of recommendation information has become one of the latest research hotspots to solve information cocoons. Aiming to achieve both high accuracy and…
Abstract
Purpose
Improving the diversity of recommendation information has become one of the latest research hotspots to solve information cocoons. Aiming to achieve both high accuracy and diversity of recommender system, a hybrid method has been proposed in this paper. This study aims to discuss the aforementioned method.
Design/methodology/approach
This paper integrates latent Dirichlet allocation (LDA) model and locality-sensitive hashing (LSH) algorithm to design topic recommendation system. To measure the effectiveness of the method, this paper builds three-level categories of journal paper abstracts on the Web of Science platform as experimental data.
Findings
(1) The results illustrate that the diversity of recommended items has been significantly enhanced by leveraging hashing function to overcome information cocoons. (2) Integrating topic model and hashing algorithm, the diversity of recommender systems could be achieved without losing the accuracy of recommender systems in a certain degree of refined topic levels.
Originality/value
The hybrid recommendation algorithm developed in this paper can overcome the dilemma of high accuracy and low diversity. The method could ameliorate the recommendation in business and service industries to address the problems of information overload and information cocoons.
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Junguang Gao, Hui He, Donghui Teng, Xinming Wan and Shiyu Zhao
Because of the complexity of technological innovation and the dynamics of the technological environment, it is impossible for a single firm to have all knowledge needed for…
Abstract
Purpose
Because of the complexity of technological innovation and the dynamics of the technological environment, it is impossible for a single firm to have all knowledge needed for technological innovation, making it essential for firms to conduct cross-border knowledge search and integration. However, it is very difficult for firms to acquire and assimilate cross-border knowledge. The purpose of this paper is to explore how an open innovation platform (OIP) helps firms to effectively search and integrate cross-border knowledge, and to understand the key roles that OIP plays during the cross-border knowledge search and integration processes.
Design/methodology/approach
This paper takes the case analysis method, which provides a comprehensively understanding on the complex process of cross-border knowledge search and integration as well as the internal mechanism. Drawing on the research paradigm of Eisenhardt (1989), Bakker and Akkerman (2014), this paper analyzes and verifies the mechanism of OIP cross-border knowledge search and integration based on extensive interviews.
Findings
First, this paper analyzes the process of cross-border knowledge search and integration through Haier open partnership ecosystem (HOPE), which is theoretically divided into three stages, including motivation formation, cross-border knowledge search and integration. These three stages have been further decomposed into the following seven steps: demands discovery, problems definition, problems decomposition, resource search, resource evaluation, technology redevelopment and test. In addition, this study investigates the manifestation of interrelationships among these stages and steps, depicting the pathways through which HOPE facilitates the firm’s cross-border knowledge search and integration. The conclusions indicate that OIP timely discovers the consumer demands during the motivation formation stage, effectively decomposes problems and find related technology resources during the search stage and improves the efficacy of integration stage.
Research limitations/implications
This study reveals the mechanism of OIP cross-border knowledge search and integration and draws some valuable conclusions, which contribute to the literature on cross-border knowledge search, enrich the research on problem-solving and also propose a new perspective to study the roles of OIP on innovation. However, there are still some limitations. First, this study is built on a single platform (HOPE), further studies may focus on more platforms to ensure the conclusions of this paper. Second, this study conducts data analysis using a simple encoding analysis, so it is possible that some critical information is emitted while collating and analyzing data. Meanwhile, for the research methods, qualitative and quantitative methods can be combined to analyze related issues, then the correlation and corresponding mechanism can be incorporated into the same framework to further verify the conclusions and generalize the results.
Practical implications
This paper theoretically analyzes how and why HOPE helps firms search and integrate cross-border knowledge. It provides not only a reference for OIP but also a proven and effective way for companies’ acquiring and integrating cross-border knowledge. Then it will further improve firms’ innovative abilities, especially disruptive innovation abilities.
Social implications
Technological innovation, especially disruptive innovation is not only a driving force of firms’ sustainable development but also a vital driver of national development. This paper clarified that OIP can help firms conduct successful disruptive innovation through cross-border knowledge search and integration, which will further increase national innovative competence and improve social welfare.
Originality/value
This paper extends the literature on the process of cross-border knowledge search and integration, as well as the roles of OIP. From a managerial standpoint, the conclusions have practical implications for firms to successfully acquire and integrate cross-border knowledge.