Tingting Zhou and Juan LI
The purpose of this paper is to explore financial quality problems, based on the dynamics of the ownership structure, in the privatization process to clarify the internal relation…
Abstract
Purpose
The purpose of this paper is to explore financial quality problems, based on the dynamics of the ownership structure, in the privatization process to clarify the internal relation among the ownership’s attribution of the commercial mixed ownership company, the company’s performance and its financial relationships. This paper also examines the mixed ownership enterprise’s potential problems during the development process.
Design/methodology/approach
Adopting the single case study method, the authors selected the mixed ownership public company Hubei Sanxia New Building Materials Co., Ltd. (stock code: 600293) to explore, from a privatization perspective, the impact of mixed ownership on financial quality.
Findings
The study found that Sanxia experienced tight cash flow and heavy debt burdens due to the privatization and that its controlling shareholders used non-operating income to support Sanxia, thus characterizing the dual role of “the grabbing hand” and “the helping hand.” Sanxia’s privatization process highlighted the volatility of performance, the exception of monetary funds and the existence of accounting fraud rather than the prosperous development of the capital combination.
Originality/value
These findings provided case support that privatization negatively affects the financial quality of the company. Previous studies have indicated that there should be greater focus more on the issue that state-owned shares rebound during the process of privatization and that, with respect to commercial mixed ownership reform of state-owned enterprises, such reform must avoid the passive transfer of corporate control, ensure the fairness of the related transactions, prevent the loss of state-owned assets and preclude the controlling shareholders from seizing interests of listed companies.
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The partial privatization of state-owned enterprises (SOEs) is a dynamic process. The main feature of this process lies in not only gradual and sequential privatizations but also…
Abstract
Purpose
The partial privatization of state-owned enterprises (SOEs) is a dynamic process. The main feature of this process lies in not only gradual and sequential privatizations but also privatized shares transfer. For partially privatized SOEs, the introduction of private sector ownership is not the end of the story because the previously introduced private owners may choose to leave the SOEs by transferring the privatized shares after privatization, a process that is called “privatized shares transfer”. This paper aims to investigate the determinants of privatized shares transfer (PST) from the perspective of large shareholders’ control rights.
Design/methodology/approach
Considering the pyramidal structure of Chinese listed companies, this paper extends existing analyses to study the impact of the ultimate controller’s control rights on privatized shares transfer. This paper also investigates the relationship between excessive control rights of the largest controlling shareholder and PST in view of the principle of equity of rights and obligations. In addition to a perspective on the holding of key positions by large shareholders, this paper further explores the impacts of the ownership of the largest controlling shareholder on privatized shares transfer.
Findings
The results capture the fact that the higher control rights of large shareholders lead to more privatized shares transfer. After exploring the impacts of excessive control rights, the results provide evidence supporting the idea that firms with excessive numbers of directors, senior managers or supervisors who also have positions in the largest controlling shareholder’s entity are more likely to transfer privatized shares owned by private owners. In addition, the largest shareholders’ ownership also plays a role in privatized shares transfer.
Originality/value
This evidence suggests that the large shareholders’ control rights should be limited to an appropriate range during the process of privatization, thereby giving private shareholders more opportunity to participate in the operation of firms, strengthen the state and enhance the competitiveness of state capital.
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Abstract
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Zelin Tong, Tingting Li, Wenting Feng, Yuanyuan Zhou and Ling Zhou
This study aims to investigate the impact of cross-border charitable activities on host- and home-country consumers based on the social identity theory.
Abstract
Purpose
This study aims to investigate the impact of cross-border charitable activities on host- and home-country consumers based on the social identity theory.
Design/methodology/approach
Through an extensive literature review and two experimental designs, this study establishes the research framework and hypothesises the relationships between the constructs.
Findings
National power moderates the impact of cross-border charitable activities on host- and home-country consumers. In particular, compared to countries with high national power, countries with low national power undertaking cross-border charitable activities will receive more positive reactions from the host-country consumers, and, conversely, more negative reactions from the home-country consumers.
Research limitations/implications
From the consumer perspective, this study finds that brand cross-border charitable activities have different influences on consumers in different countries because of an identity transformation mechanism that exists between the “insiders” and the “outsiders”, which is different from the assumptions of western theories.
Practical implications
The findings provide insights for undertaking brand cross-border charitable activities.
Originality/value
Previous studies, which are based on social identity categorisation, assume that cross-border charitable activities have a more positive impact on home-country consumers than host-country consumers. However, this study adopts the research paradigm of social identity relationisation and draws an opposite conclusion, which not only expands the theory of local intergroup interaction, but also clarifies how brand cross-border charitable activities influence Chinese consumers.
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Xiaokun Zhou, Suming Xie, Maosheng He, Tingting Fu and Qifeng Yu
This study aims to reduce the weight of the door, improve the operating efficiency and ensure the safety of vehicle operation.
Abstract
Purpose
This study aims to reduce the weight of the door, improve the operating efficiency and ensure the safety of vehicle operation.
Design/methodology/approach
Based on traditional aluminium alloy doors, a new type of honeycomb composite material was developed. Tests were conducted to determine the honeycomb compression resistance, honeycomb and skin shear performance, plate bending, thermal conductivity and environmental protection. Eight doors were developed based on the full-side open structure, and static strength and stiffness analyses were performed simultaneously. To solve door vibration problems, modal analysis and test were carried out.
Findings
The test results showed that the weight of the door was reduced by more than 40% whilst ensuring the strength and stiffness of the vehicle. The first–sixth-order test mode of the door was increased by more than 14% compared with existing aluminium alloy doors.
Originality/value
A new type of honeycomb composite material was used in this study. The test results showed that the weight of the door was reduced by more than 40% whilst ensuring the strength and stiffness of the vehicle. The 1st-to-6th order test mode of the door was increased by more than 14% compared with the existing aluminium alloy door.
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Hongyan Dai, Yan Wen, Weihua Zhou, Tingting Tong and Xun Xu
The overuse and scarcity of resources emphasize the importance of the circular economy. The technology facilitated by Industry 4.0 stimulates the implementation of the circular…
Abstract
Purpose
The overuse and scarcity of resources emphasize the importance of the circular economy. The technology facilitated by Industry 4.0 stimulates the implementation of the circular economy that aims to reduce resource use and enhance operational efficiency. This study focuses on enhancing delivery efficiency in an online-to-offline (O2O) context from an Industry 4.0 technology-facilitated personal configuration perspective, that is, comparing in-house and crowdsourced delivery efficiency in China's O2O on-demand food delivery context.
Design/methodology/approach
The authors collect 128,152 orders from 38 restaurants of an online restaurant chain in China. The authors adopt multiple regression analysis to examine the delivery efficiency gap between in-house and crowdsourced deliverymen and the determinants of this efficiency gap.
Findings
The findings of this study reveal that crowdsourced deliverymen exhibit higher delivery efficiency, in terms of a shorter delivery time, than in-house deliverymen. In addition, the authors find that platforms providing monetary incentives or implementing late delivery penalties enlarge this efficiency gap. Furthermore, the authors show that external factors, such as working on weekends and bad weather conditions, contribute to the narrowing of this performance efficiency.
Practical implications
The study's findings suggest that platforms should use advanced technologies facilitated by Industry 4.0 to optimize their personnel configuration to enhance their delivery efficiency and reduce carbon emissions. The effective approaches include using financial incentives and improving working schedules.
Originality/value
The authors' findings contribute to the online fulfillment literature by focusing on delivery efficiency in the O2O context from the Industry 4.0 technology-facilitated personnel configuration perspective. The authors examine how internal and external factors moderate the performance efficiency between these two types of deliverymen.
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This paper aims to study a retailer’s decision on the price and inventory when facing strategic consumer behavior and demand uncertainty. Price protection is a kind of rebate that…
Abstract
Purpose
This paper aims to study a retailer’s decision on the price and inventory when facing strategic consumer behavior and demand uncertainty. Price protection is a kind of rebate that the retailer provides to consumers when the price drops during the selling season. The research investigates whether price protection can bring the retailer advantages. This paper compares price protection’s impact with price commitment. In addition, the paper studies the price protection’s impacts on supplier of the supply chain.
Design/methodology/approach
In this model, there are three alternative strategies for retailer: no price protection policy, full price protection policy and partial price protection policy. The selling season is divided into two periods: regular period and sale period. In the regular period, the products are sold at a regular price. In the sale one, the products are sold at a lower price. By adopting rational expectations equilibrium, this paper analyzes retailer’s optimal price and order quantity under each policy and compares optimal decisions and maximum profits of three policies.
Findings
This paper finds that the price protection has a positive influence on the retailer. Strategic consumers are induced to purchase at the regular period. It can simultaneously increase retailer’s profit and reduce inventory risk. Meantime, full price protection is chosen as the optimal policy. By comparing full price protection’s impacts with price commitment, full price protection is considered as the most profitable strategy, while price commitment can bring lower inventory risk. In addition, the profit of supplier would decrease because of price protection.
Originality/value
This research provides a new method to address the negative effects of strategic consumer behavior. It also brings some managerial insights to some retailers, especially online ones, on whether to adopt price protection.
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Qin Chen, Jiahua Jin, Tingting Zhang and Xiangbin Yan
The success of online health communities (OHCs) depends on maintaining long-term relationships with physicians and preventing churn. Even so, the reasons for physician churn are…
Abstract
Purpose
The success of online health communities (OHCs) depends on maintaining long-term relationships with physicians and preventing churn. Even so, the reasons for physician churn are poorly understood. In this study, an empirical model was proposed from a social influence perspective to explore the effects of online social influence and offline social influence on physician churn, as well as the moderating effect of their online returns.
Design/methodology/approach
The empirical data of 4,145 physicians from a Chinese OHC, and probit regression models were employed to verify the proposed theoretical model.
Findings
The results suggest that physicians' churn intention is influenced by online and offline social influences, and the offline social influence is more powerful. Physicians' reputational and economic returns could weaken the effect of online social influence on churn intention. However, physicians' economic returns could strengthen the effect of offline social influence on churn intention.
Originality/value
This research study is the first attempt to explore physician churn and divides the social influence into online and offline social influences according to the source of social relationship. The findings contribute to the literature on e-Health, user churn and social influence and provide management implications for OHC managers.
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Zhiqiang Liu, Xiaoqing Pan and Tingting Zhu
This study aims to examine why and when employees engage in creative deviance to develop creativity in China. Drawing on strain theory, the authors examined creative deviance…
Abstract
Purpose
This study aims to examine why and when employees engage in creative deviance to develop creativity in China. Drawing on strain theory, the authors examined creative deviance engagement as a mediator and transformational leadership as a moderator of the distinct relationships between emotional and rational status-striving orientations and radical and incremental creativity.
Design/methodology/approach
Multisource survey data were collected from 126 team leaders and 446 employees in Chinese firms. Multilevel path analysis was used to test the hypotheses.
Findings
The results show that emotional status-striving orientation relates to creative deviance engagement, which, in turn, has a stronger relationship with radical creativity than with incremental creativity. Furthermore, creative deviance engagement mediates the indirect relationships between emotional status-striving orientation and radical and incremental creativity. Moreover, transformational leadership moderates the above indirect relationships.
Originality/value
This study is among the first attempts to empirically test the distinct relationships between creative deviance engagement and radical and incremental creativity and further examine how creative deviance engagement mediates the indirect relationships between status-striving orientations and radical and incremental creativity. In addition, the boundary condition of the indirect relationships is investigated. The findings provide valuable insights for the extant literature on status and employee creativity.
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Qingqing Li, Ziming Zeng, Shouqiang Sun and Tingting Li
Aspect category-based sentiment analysis (ACSA) has been widely used in consumer preference mining and marketing strategy formulation. However, existing studies ignore the…
Abstract
Purpose
Aspect category-based sentiment analysis (ACSA) has been widely used in consumer preference mining and marketing strategy formulation. However, existing studies ignore the variability in features and the intrinsic correlation among diverse aspect categories in ACSA tasks. To address these problems, this paper aims to propose a novel integrated framework.
Design/methodology/approach
The integrated framework consists of three modules: text feature extraction and fusion, adaptive feature selection and category-aware decision fusion. First, text features from global and local views are extracted and fused to comprehensively capture the potential information in the different dimensions of the review text. Then, an adaptive feature selection strategy is devised for each aspect category to determine the optimal feature set. Finally, considering the intrinsic associations between aspect categories, a category-aware decision fusion strategy is constructed to enhance the performance of ACSA tasks.
Findings
Comparative experimental results demonstrate that the integrated framework can effectively detect aspect categories and their corresponding sentiment polarities from review texts, achieving a macroaveraged F1 score (Fmacro) of 72.38% and a weighted F1 score (F1) of 79.39%, with absolute gains of 2.93% to 27.36% and 4.35% to 20.36%, respectively, compared to the baselines.
Originality/value
This framework can simultaneously detect aspect categories and corresponding sentiment polarities from review texts, thereby assisting e-commerce enterprises in gaining insights into consumer preferences, prioritizing product improvements, and adjusting marketing strategies.