Guojin Chen, Aihuan Xu and Xiangqin Zhao
The aim of this paper is to empirically analyze the source of commonality in liquidity change in China's stock market.
Abstract
Purpose
The aim of this paper is to empirically analyze the source of commonality in liquidity change in China's stock market.
Design/methodology/approach
This paper used two‐step test method in Coughenour and Saad and empirically tested the relationship between institutional investors' involuntary trading behaviors and commonality in liquidity change in China's stock market.
Findings
The results showed that to take the open‐end fund as a representative of institutional investors, their involuntary trading behaviors were an important source of commonality in liquidity change in China's stock market.
Originality/value
For a long time, the domestic researchers have ignored the study about the source of commonality in liquidity change in China's stock market. But, this study's conclusion expanded the explanation about the source of commonality in liquidity change in China's stock market from a new point of view that the demand‐side explanation. Because there is no market‐maker trading behaviors in China's stock market, the paper cannot explain the source of commonality in liquidity change in China's stock market from the point of view of the supply‐side explanation.
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Tian Wei and Qianwen Wan
This study aims to explore how digital intermediaries interact with individual intermediaries to assist corporate social entrepreneurs (CSEs) in building inclusive markets. In…
Abstract
Purpose
This study aims to explore how digital intermediaries interact with individual intermediaries to assist corporate social entrepreneurs (CSEs) in building inclusive markets. In response to the challenge of social exclusion, CSEs craft strategies by leveraging their existing capabilities and resources. However, when it comes to building inclusive markets, CSEs face the liabilities of institutional voids and must rely on intermediaries to establish efficient trading channels. This study focuses on the process by which CSEs firstly construct technology affordances of digital intermediaries, and then actualise affordances through the interactions of digital and individual intermediaries in overcoming technology constraints and triggering involvement cycle in the context of rural e-commerce.
Design/methodology/approach
Using a single-case study design, the authors unfolded the process of a rural e-commerce project conducted by a Chinese e-commerce giant. The authors interviewed 35 informants from 2016 to 2018; each interview lasted 45–90 minutes. In addition, archival and observational data were collected for triangulation. After thorough examination, the data was coded and a grounded framework was developed.
Findings
This study provides a detailed process of how the interactions of digital and individual intermediaries facilitate CSEs in building inclusive markets through a rural e-commerce project. The authors find that CSEs generate corporate strategy in building inclusive markets by constructing three affordances of digital intermediaries: equality facilitator, harmony maintainer and stickiness creator. Subsequently, in actualising these affordances, CSEs fill institutional voids through the interactions between digital and individual intermediaries. Specifically, the technology constraints of digital intermediaries trigger a four-phase cycle involving individual intermediaries: identification, activation, coaching and empowerment. This involvement cycle effectively overcomes the technology constraints of digital intermediaries. The interactions between digital and individual intermediaries facilitate the dual goals achievement of CSEs and finally restructure the market architecture.
Originality/value
Firstly, this study stands among the pioneering research endeavours exploring the interactions between digital and individual intermediaries in facilitating CSEs to develop inclusive markets. Diverging from existing literature, which often enhances or refines the role of a single intermediary in filling institutional voids, the authors posit that digital and individual intermediaries dynamically complement each other in actualising affordances. This complementary dynamic stands as a substitute for the evolution of a single intermediary in building inclusive markets. Secondly, by zooming out the process of constructing and actualising affordances, this study contributes to the literature on technology affordance in both contextual and relational aspects. Contextually, the authors identify three tenets of affordances generated by the corporate strategy of CSEs. Relationally, the authors argue that affordances can be predeveloped by CSEs and then fully actualised through interactions between digital and individual intermediaries, challenging the conventional view that sees affordances as a relational concept solely determined by users and artefacts during the actualisation process. Thirdly, this study makes a contribution by untangling the process of CSEs in reshaping the market context to make it more inclusive. Departing from the conventional focus on the role of institutional intermediaries for CSEs in filling institutional voids, the authors explore how CSEs develop digital intermediaries and induce their interactions with individual intermediaries to restructure market architecture during the process of constructing and actualising affordances. In conclusion, this study adds valuable insights to the literature on institutional voids, technology affordance and CSE in building inclusive markets.
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Luisa Helena Pinto, Emilia Fernandes and Li Xinyan
To date, research on migration and entrepreneurship has rarely focused expat-preneurs. Based on recent developments in both fields, this paper aims to investigate the…
Abstract
Purpose
To date, research on migration and entrepreneurship has rarely focused expat-preneurs. Based on recent developments in both fields, this paper aims to investigate the under-researched phenomenon of Chinese self-initiated expatriates who choose to temporarily live and do business abroad on their own volition.
Design/methodology/approach
To address this research gap, 15 in-depth semi-structured interviews with Chinese expat-preneurs living in Portugal were conducted, exposing their narratives about their multiple challenges.
Findings
The findings corroborate the theoretical need to look beyond narrow economic explanations for why individuals engage in transnational entrepreneurship and entrepreneurial itinerancy. A collective identity and ethnic community are important because they influence how opportunities are identified and pursued.
Research limitations/implications
This is a qualitative and interpretative study in a limited geographical area, which does not intent to ensure generalizability. More research is needed to further understand the phenomenon of entrepreneurial itinerancy in Europe and among other ethnic communities.
Practical implications
The findings provide insightful inputs to Portuguese policymakers and locals on how to support ethnic entrepreneurship. Chinese expat-preneurs also benefit from understanding how to strength their ethnic social ties in connection with local communities.
Originality/value
This study contributes to the entrepreneurship and international mobility literatures by providing new insights into the nature and dynamics of Chinese “expat-preneurs”, including their entrepreneurial itinerancy, necessary to properly understand entrepreneurs’ diversity and assist in extending transnational entrepreneurial theory.