The purpose of technology mergers and acquisitions (M&A) is to achieve innovation. The authors use the data from the China Patent Research System of China National Intellectual…
Abstract
Purpose
The purpose of technology mergers and acquisitions (M&A) is to achieve innovation. The authors use the data from the China Patent Research System of China National Intellectual Property Administration to classify technical correlations into three types: similar, complementary and nonrelatedness (cross-sectoral category). And the authors explore three issues: the market reaction to technology-oriented M&A, the impact of technology-oriented M&A on goodwill and how technology-oriented M&A affects innovation.
Design/methodology/approach
The authors use data from China Patent Research System of China National Intellectual Property Administration to classify technical correlations into three types: similar, complementary and nonrelatedness (cross-sectoral category). And the authors explore three issues: the market reaction of technology-oriented M&A, the impact of technology-oriented M&A on goodwill and how technology-oriented M&A affects innovation. The empirical research shows that the cross-sectoral M&A is popular in the market and is positively correlated with cumulative abnormal return (CAR) and premium rate of M&A. However, the technology-similarity M&A, which is committed to in-depth exploration of original technology, is negatively correlated with CAR and goodwill.
Findings
The empirical research shows that cross-sectoral M&A is popular in the market and is positively correlated with CAR and premium rate of M&A. However, the technology-similarity M&A, which is committed to in-depth exploration of original technology, is negatively correlated with CAR and goodwill. In addition, empirical results show that there is an inverted U-shaped relationship between technology-oriented M&A and innovation output, and the inflection points are 41.8%, 48.9% and 38.8%, respectively.
Originality/value
The research contributions of this paper are as follows: first, most domestic studies simply and roughly measure the degree of technical relevance based on whether the firms belong to the same industry and whether there is common knowledge between them, but the authors provide a more accurate measure of technology-oriented M&A. Second, in the research on the economic consequences of technology-oriented M&As, a large number of literatures have mainly focused on the innovation performance of the acquirer after deals, including the number of patent applications, the number of patent citations, innovation output, etc., and they pay less attention to its impact on the market reaction and goodwill.
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Michael C.H. Quek and Seow Eng Ong
There is currently no real estate investment trust (REIT) listed in China. As of date, only two REITs – GZI REIT of Hong Kong and CapitaRetail China Trust (CRCT) of Singapore �…
Abstract
Purpose
There is currently no real estate investment trust (REIT) listed in China. As of date, only two REITs – GZI REIT of Hong Kong and CapitaRetail China Trust (CRCT) of Singapore – have securitised Chinese property assets. The purpose of this paper is to examine the driving forces and the obstacles surrounding China REITs, and evaluate REIT securitisation as an exit strategy for Chinese properties.
Design/methodology/approach
The paper analyses the performance of the two cross‐border REITs and investigates whether REITs holding Chinese assets outperform other listed REITs.
Research limitations/implications
CRCT outperforms GZI REIT as well as some of the other Singapore REITs, while GZI REIT ranked second lowest in terms of price performance when compared to other Hong Kong REITs. The limited history of CRCT suggests that when a well‐structured REIT holding Chinese assets can perform very well. We also infer that performance is closely linked to portfolio composition and diversification, growth story and originator reputation.
Originality/value
The study shows that there is indeed a strong local demand for China REITs, and that REITs can provide an alternative source of real estate financing for Chinese developers and promote a better regulated Chinese real estate market.
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Xie Hui and Zhang Kexin
Due to consumption changes in the post-pandemic era, the production safety of agricultural products is affecting global consumers. This paper constructs an evaluation index of the…
Abstract
Purpose
Due to consumption changes in the post-pandemic era, the production safety of agricultural products is affecting global consumers. This paper constructs an evaluation index of the agricultural Internet of things (IOT) traceability system and evaluates it using the dynamic hesitant-fuzzy linguistic term sets (HFLTS)-based DEMATEL method to improve agricultural supply-chain links and improve production quality.
Design/methodology/approach
The agricultural IOT traceability index system is constructed using the literature and expert interviews; it comprises 6 first-level indices and 20 second-level indices. The agricultural IOT traceability system is evaluated using the dynamic HFLTS-DEMATEL method.
Findings
Producers' awareness of agricultural-production safety (A11) has the most significant impact on production and processing links, while warehouse location and storage capacity (A31) have the largest impact on the circulation link. Inspection authenticity and transparency and quarantine information (A41) have the largest impact on the detection-consumption link. The extent to which the traceability-platform construction is complete (A62) has the largest impact on technical support.
Research limitations/implications
The present paper may be limited to the era of post-pandemic, and it is hard to consider all the indices. Further research can broaden the research context and establish a more comprehensive index system.
Practical implications
The index system constructed in this study will surely help relevant regulatory authorities in China to promote the construction of agricultural IOT traceability system and establish a unified standard, so as to provide a basis for future developers to enter the field. Accordingly, it also can help every subject to identify the key indices of each process in the agricultural-product supply chain and guide relevant departments to conduct targeted information tracking and management. The consumers could also understand the standards of traceable agricultural products and effectively protect their own rights and interests.
Originality/value
The existing literature does not provide an objective, unified standard for measuring a decentralized traceability system or identifying key processes. This study therefore proposes a new evaluation index system and uses a dynamic evaluation method to determine the importance of key indices. This study identifies the most important indices in each process, making it possible to discover, improve, and enhance the quality of agricultural products at a practical level.
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Abstract
Purpose
This paper aims to shed some new light on the mixed findings of previous empirical studies on the effect of knowledge search breadth (SB) on firms’ 2019 innovation performance (IP).
Design/methodology/approach
The paper adopts a contingent approach that examines the two organizational factors in determining the shape of the SB-IP curve. The empirical study is based on survey data gathered from 414 Chinese firms. In dealing with concerns on simultaneity and reverse causality, perceived time-lag between outcome variable and explanatory variables was introduced.
Findings
This study reveals that knowledge novelty and absorptive capacity are two functions underlying the SB-IP relationship. The results also indicate that innovation orientation and firm age moderate the SB-IP relationship in different ways: the more innovation-oriented the firm, the steeper the inverted U-shaped SB-IP relationship will be, while the older the firm, the flatter the SB-IP relationship will be. Interestingly, there is strong evidence for the shape-flip phenomenon of the SB-IP curve: SB has an inverted U-shaped effect on IP when a firm is young; however, SB has a U-shaped effect when the firm is older than 37 years.
Originality/value
By revealing two underlying functions and two moderators of the association between SB and IP at the firm level, this paper contributes to shed some new light to the mixed results reported by previous empirical studies that have examined the effect of knowledge search on firm innovation.
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The purpose of this study is to find ways to mitigate the negative consequences of relationship conflict under the situation that while the negative role of team relationship…
Abstract
Purpose
The purpose of this study is to find ways to mitigate the negative consequences of relationship conflict under the situation that while the negative role of team relationship conflict has been underscored in prior literature, few studies try to alleviate it. With the development of positive psychology, a stream focusing on the role of emotion in conflict management emerges. First, the authors want to explore the mediating role of members’ work engagement in the association between relationship conflict and members’ job performance. Moreover, they want to explore contingent roles of perceived team leader’s emotional intelligence and members’ emotion regulation strategies (i.e. cognitive reappraisal and expressive suppression) in moderating the effect of relationship conflict on members’ work engagement.
Design/methodology/approach
Using a data set of 363 individuals working in 73 teams in service sectors, the authors empirically examined the cross-level model with hierarchical linear model.
Findings
Relationship conflict was negatively related to members’ job performance while members’ work engagement mediated this relationship. Moreover, perceived team leader’s emotional intelligence mitigated the negative effect of relationship conflict on members’ work engagement, while members’ expressive suppression strategy intensified the negative effect.
Originality/value
The authors address the void of the cross-level mediating process by examining the role of individual work engagement that mediates relationship conflict and individual job performance. The individual work engagement is highlighted in this study for the hope of serving as the basis of finding effective moderators to alleviate the negative relationship conflict–performance relationship by mitigating the decrease of work engagement. Moreover, the claim that the role of emotion from different status subjects varies in regulating the effect of relationship conflict contributes to the development of positive psychology by combining emotion with conflict management.
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Guojin Gong, Yue Li and Ling Zhou
It has been widely documented that investors and analysts underreact to information in past earnings changes, a fundamental performance indicator. The purpose of this paper is to…
Abstract
Purpose
It has been widely documented that investors and analysts underreact to information in past earnings changes, a fundamental performance indicator. The purpose of this paper is to examine whether managers’ voluntary disclosure efficiently incorporates information in past earnings changes, whether analysts recognize and fully anticipate the potential inefficiency in management forecasts and whether managers’ potential forecasting inefficiency entirely results from intentional disclosure strategies or at least partly reflects managers’ unintentional information processing biases.
Design/methodology/approach
Archival data were used to empirically test the relation between management earnings forecast errors and past earnings changes.
Findings
Results show that managers underreact to past earnings changes when projecting future earnings and analysts recognize, but fail to fully anticipate, the predictable bias associated with past earnings changes in management forecasts. Moreover, analysts appear to underreact more to past earnings changes when management forecasts exhibit greater underestimation of earnings change persistence. Further analyses suggest that the underestimation of earnings change persistence is at least partly attributable to managers’ unintentional information processing bias.
Originality/value
This study contributes to the voluntary disclosure literature by demonstrating the limitation in the informational value of management forecasts. The findings indicate that the effectiveness of voluntary disclosure in mitigating market mispricing is inherently limited by the inefficiency in management forecasts. This study can help market participants to better use management forecasts to form more accurate earnings expectations. Moreover, our evidence suggests a managerial information processing bias with respect to past earnings changes, which may affect managers' operational, investment or financing decisions.
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Xiao-Ling Wang, Ming-Yue Wang and Jun-Na Liu
Employees’ bootlegging innovation behavior is common and plays an important role in enterprise management. Based on the resource conservation theory and self-regulation theory…
Abstract
Purpose
Employees’ bootlegging innovation behavior is common and plays an important role in enterprise management. Based on the resource conservation theory and self-regulation theory, the purpose of this study is to explore the influence mechanism of leaders’ abusive supervision on employees’ bootlegging innovation behavior, with psychological safety as a mediator and mindfulness at workplace as a moderator.
Design/methodology/approach
Survey data were gathered from 591 employees’ self-assessment questionnaires in China. Hierarchical regression analysis was used to test the research model through SPSS and AMOS.
Findings
This study found that the leaders’ abusive supervision negatively affects employees’ bootlegging innovation behavior; employees’ psychological safety completely mediates the negative effect of leaders’ abusive supervision on employees’ bootlegging innovation behavior; and mindfulness at work moderates the influence of leaders’ abusive supervision on employee’ bootlegging innovation behavior, as well as the influence of leaders’ abusive supervision on employees’ psychological safety.
Research limitations/implications
This study has significant implications in passive leadership that affect employees’ innovation. Authors found that leaders’ abusive supervise, mindfulness at workplace play a crucial role in employees’ bootleg innovation through psychological safety.
Originality/value
Theoretically, this study has enriched the antecedent research on employees’ bootlegging innovation behavior from the perspective of negative leadership behavior and employee psychology. And this study considered mindfulness at workplace as a boundary condition.
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Yucheng Zhang, Zhongwei Hou, Xingxing Zhou, Yumeng Yue, Siqi Liu, XiaoXiao Jiang and Ling Li
Despite recent organizational behavior studies have witnessed considerable progress in abusive supervision research; some demerits for both theory and methodology still remain in…
Abstract
Purpose
Despite recent organizational behavior studies have witnessed considerable progress in abusive supervision research; some demerits for both theory and methodology still remain in the past years. To clarify the current state of knowledge in the field, this study aims to analyze the current state of theories and methods on abusive supervision and provides a detailed future research agenda.
Design/methodology/approach
This paper conducted a literature review for both theory and methodology of the abusive supervision research using a content analysis of 134 publications.
Findings
For the theory part, this paper summarized the theories that had been applied to explain the relationship between abusive supervision and its consequences as well as antecedents. For the methodology part, this paper outlined some critical issues regarding country of origin, research design, measurement, analysis strategy and also summarized with a discussion of the relationship between methodological issues and article impact. Finally, this paper concluded by presenting an agenda for future abusive supervision research regarding both theory and methodology.
Originality/value
First, this paper summarizes the main theories, antecedents and consequences often used in abusive supervision research to allow scholars to carry out theoretically driven research investigating abusive supervision in the future. Second, through a content analysis of the methods sections of abusive supervision research in the samples (i.e. country of origin, research design, measurement and analytical procedures), this paper identified the potential reasons underlying the inconsistency in the conclusions of abusive supervision research and provide some guidance for future empirical studies. Third, based on the qualitative review, this paper provides an agenda for future research investigating abusive supervision by developing a content-specific theoretical framework to benchmark abusive supervision research against other research related to leadership and offers an accurate response to scholars’ criticisms of abusive supervision research.
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Yanni Yang, Yue Zhang and An-Ling Xiang
The purpose of this paper is to explore factors influencing social media usage effectiveness of publishing-related entities and discuss the differences between publishing-related…
Abstract
Purpose
The purpose of this paper is to explore factors influencing social media usage effectiveness of publishing-related entities and discuss the differences between publishing-related individuals and organizations in their usage of social media and the differences between commercial organizations and public service organizations (such as libraries).
Design/methodology/approach
This paper studied 546 publishing-related entities’ accounts on the leading Chinese social media and built a theoretical model for the usage of social media by publishing-related entities. Furthermore, it examined the influencing factors from two aspects: power of influence of an entity (entity influence) and the relational interaction of a publishing-related entity with its audience (interactive relationship).
Findings
The study found that for publishing-related individual users of social media, entity influence has a greater positive effect on the effectiveness of social media usage than on the effect of interactive relationship. For publishing-related commercial organizations, the entity influence and interactive relationship have equal impacts on the effectiveness of social media usage. It is also found that interactive relationship has a stronger positive effect on the usage effectiveness of social media, especially for publishing-related public service organizations.
Originality/value
This research fills the gap in the research of comparative analysis in the understanding of social media usage by individuals and organizations related to publishing activities. Moreover, it has tried to propose a theoretical model that can help promote the effectiveness of social media usages by various publishing-related entities and their business strategies.
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Daniel Jung Yue Chun, Wahid Abdul Nabsiah and Cheng Ling Tan
This paper aims to discover why such a public partnership project had been successful with a non-profit third-party alliance such as a smart city consortium (SCC) promoting smart…
Abstract
Purpose
This paper aims to discover why such a public partnership project had been successful with a non-profit third-party alliance such as a smart city consortium (SCC) promoting smart city development.
Design/methodology/approach
This descriptive case study is primarily based on analysing data collected from various texts, public statements, media interviews and three semi-structured interviews with key members involved in the Covid-19 dashboard project.
Findings
The data and analysis reviews that both interpersonal and interorganisational trust, dedication and proactiveness of the leaders at SCC were major contributing factors to why SCC was able to partner with the Hong Kong Government in the Covid-19 dashboard in the first place and that the success was also a direct outcome of effective mass collaborative knowledge management activities.
Research limitations/implications
The research in leadership attributes and activities in the non-profit alliance has been few and this collaborative partnership between the alliance and the government is an example of the importance of further research in smart city leadership.
Practical implications
In deploying projects for mass collaboration and knowledge sharing in smart city development (which is multi-disciplinary in nature). there are still many new and evolving organisational practices and leadership matters that many business leaders and city managers can learn from.
Social implications
Smart city development projects involve the notion of sharing data in an open environment enabled by software and mediating tools. Successful projects such as this Hong Kong Covid-19 dashboard which serves a diverse audience can further promote the importance of an open data policy regime for the benefit of the public.
Originality/value
This case study covers a highly original and unique case study with the leaders at the SCC and representatives from the Hong Kong Government.