12 results
Search Results
2. Research on the mechanism of consumer participation in value co-creation by innovative enterprises: An evolutionary game analysis framework.
- Author
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Liu, Yuhua
- Subjects
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CUSTOMER cocreation , *TECHNOLOGICAL innovations , *REWARD (Psychology) , *CONSUMER research , *CONSUMERS , *BUSINESS enterprises , *COINTEGRATION - Abstract
The profound changes brought about by informatization and digitalization have given rise to the user-centered innovation concept, and value co-creation by enterprises has become an inevitable trend. It has become a pressing issue for scholars to analyze the mechanism of consumer participation in the value co-creation of innovative enterprises. In this paper, by establishing an evolutionary game model between consumers and innovative enterprises, we analyze in depth the mechanism of consumer participation in the value co-creation of innovative enterprises. The results show that the initial cooperation probability between consumers and innovative enterprises directly affects their strategic choices; the establishment of reward mechanisms makes consumers more inclined to choose active participation in value co-creation strategies; as the probability of non-cooperation between the two parties being reported increases, the probability of consumers and innovative enterprises choosing cooperation also increases. Studying the mechanism of consumer participation in the value co-creation of innovative enterprises has essential theoretical and practical significance for enterprises to achieve value creation, enhance competitiveness, and promote innovation. This study not only enriches and develops relevant theories but also provides guidance and support for the practice of enterprises, promoting sustainable development and successful co-creation. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
3. The impact mechanism of China's green finance on the transformation and innovation of high-energy-consumption enterprises.
- Author
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Xiang, Weimin, Lan, Yeqiang, Qi, Qiao, and Gan, Lei
- Subjects
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CARBON nanofibers , *TECHNOLOGICAL innovations , *SUSTAINABLE development , *SUBSIDIES , *BUSINESS size , *BUSINESS enterprises ,DEVELOPING countries - Abstract
The development of green finance and the promotion of green transformation and upgrading of high energy-consuming enterprises are of great significance for China to achieve the "double carbon" goal. This paper employs a dual fixed-effects model to examine the profound ramifications and intrinsic mechanisms of green finance development on the transformative innovation of high-energy-consumption enterprises, using a sample of 462 publicly traded high-energy-consuming corporations from the period spanning 2016 to 2020. The results show that the development of green finance promotes the transformation and innovation of energy-intensive enterprises and that market-incentivized environmental regulation plays a partially mediating role; the results of heterogeneity analysis show that green finance promotes the transformation and innovation of high energy-consuming enterprises with significant differences in different low-carbon pilot regions, company ownership, and enterprise size; the mechanism analysis shows that the development of green finance can increase government subsidies and alleviate financing constraints to promote the transformation and innovation of high energy-consuming enterprises; it is also found that the development of green finance can significantly improve the financial performance of enterprises. The research findings of this paper hold significant implications for promoting the sustainable development of green finance and high-energy consumption enterprises in China. They provide valuable insights and references for facilitating the green transformation and innovation of high-energy-consuming enterprises in China as well as other developing countries. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
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4. The impact of executive compensation incentive on corporate innovation capability: Evidence from agro-based companies in China.
- Author
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Shang, Yue, Xu, Jian, and Li, Jing
- Subjects
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EXECUTIVE compensation , *TECHNOLOGICAL innovations , *MONETARY incentives , *MULTIPLE regression analysis , *INCENTIVE (Psychology) , *BUSINESS enterprises - Abstract
This paper aims to examine the impact of executive compensation incentive on corporate innovation capability by dividing executive compensation incentive into short-term monetary incentive and long-term equity incentive. We also investigate the interaction between the two types of executive compensation incentive. Data are collected from China's agro-based companies during 2012–2019, and multiple regression analysis is utilized. The empirical results show that short-term monetary incentive has no impact on innovation capability, while long-term equity incentive stimulates innovation capability. Regarding company ownership, the impact of long-term equity incentive in state-owned enterprises is greater than that in private-owned enterprises. In addition, the complementary effect between short-term and long-term compensation incentive has a positive impact on innovation capability regardless of company ownership. The findings of this paper could help agribusiness managers to design the reasonable incentive system to incentivize corporate executives and enhance the capability of independent innovation. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
5. Financial subsidies, tax incentives, and new energy vehicle enterprises' innovation efficiency: Evidence from Chinese listed enterprises.
- Author
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Qian, Binhua
- Subjects
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ELECTRIC vehicles , *TAX incentives , *TECHNOLOGICAL innovations , *GOVERNMENT business enterprises , *BUSINESS enterprises , *SUBSIDIES - Abstract
Financial subsidies and tax incentives play essential roles in the innovation efficiency of enterprises. This paper selects Chinese listed NEV enterprises from 2010 to 2022 as a research sample and investigates various impacts under various circumstances. We find that both financial subsidies and tax incentives can promote the innovation efficiency of NEV enterprises. Compared to financial subsidies, tax incentives are more effective; the interaction between financial subsidies and tax incentives has a weaker impact on the innovation efficiency of NEV enterprises. Both financial subsidies and tax incentives have more potent innovation effects on enterprises with higher financing constraints. In addition, financial subsidies and tax incentives have a stronger innovation efficiency effect on private enterprises than state-owned enterprises. Further research shows that marketization and market distortion affect the innovation efficiency of NEV enterprises. This study provides a new perspective for understanding the effects of financial subsidies, tax incentives, and innovation efficiency of NEV enterprises, and the conclusions and suggestions are relevant references for the government to improve the quality of policy-making. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
6. The policy effect of green finance reform and innovations: Empirical evidence at the firm level.
- Author
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Dong, Hanghang and Tao, Miaomiao
- Subjects
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TECHNOLOGICAL innovations , *INDUSTRIAL productivity , *INCENTIVE (Psychology) , *SUSTAINABLE development , *BUSINESS enterprises , *REFORMS - Abstract
The Chinese central government established eight pilot zones in five provinces for green finance reform and innovations (GFRI) in 2017. The pilot zones promote green finance development and explore the propagable and reproducible experiences regarding mechanisms and institutions. Adopting a sample of China's listed companies from 2012 to 2021, this paper constructed a quasi-natural experiment and investigated the GFRI policy's effect on firms' total factor productivity (TFP) using the difference-in-differences (DID) method to verify the implementation effect of the GFRI policy. Furthermore, heterogeneity analysis and mechanism analysis were conducted to identify the guidance effect and deep mechanisms of the GFRI policy. The empirical results demonstrated that firms' TFP in pilot zones increased substantially after implementing the GFRI pilot policy, confirming that the policy had a strong incentive effect. The corresponding promoting effect was particularly significant for non-state-owned companies, the eastern and central regions, and firms in the growth stage. Further mechanism analysis revealed that the GFRI pilot policy can stimulated firms' TFP by promoting technological innovation and improving resource allocation efficiency. This paper's empirical findings are essential in improving relevant policies and expanding the pilot zones. [ABSTRACT FROM AUTHOR]
- Published
- 2022
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7. Tax preference, financing constraints and enterprise investment efficiency—Experience, of China's enterprises investment.
- Author
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Zhai, Liangliang, Feng, Yujing, Li, Fumin, and Zhai, Liping
- Subjects
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TAX expenditures , *SMALL business , *TECHNOLOGICAL innovations , *FISCAL policy , *BUSINESS enterprises , *INCENTIVE (Psychology) - Abstract
This paper takes the 2014 pilot project of accelerated depreciation of fixed assets as a quasi-natural experiment, and builds a Propensity Score Matching–Difference in Differences (PSM-DID) model based on the data of Chinese listed companies from 2000 to 2019 to test the impact of tax preference on enterprise investment efficiency and its mechanism. The results show that the policy inhibits supported enterprises investment efficiency significantly. Heterogeneity analysis shows that the policy causes greater investment efficiency losses for small and medium-sized enterprises, non-state-owned enterprises and asset-heavy enterprises. The mechanism test found the reason why the policy eased financing constraints but inhibited investment efficiency in short-term. After a variety of robustness tests, the above basic conclusions are still valid. Although the accelerated depreciation policy of fixed assets is conducive to expanding the scale of investment, the incentive effect on investment efficiency is not obvious, and even shows a restraining effect. Given the existence of heterogeneity, the design of the policy should not only distinguish industries, but also pay attention to the differences between different enterprises in the same industry. Strengthening research and development (R&D) innovation and improving the matching mechanism between human capital and fixed investment will help give full play to the incentive effect of this policy. The research in this paper helps to deepen the understanding of the microeconomic effects of tax policy and identify the internal mechanism, which not only enriches the relevant literature, but also provides a reference for the government to better use tax policy to promote the high-quality development of enterprises. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
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8. How innovation funding leads enterprises to engage in research and development: Small and medium enterprises' perspective.
- Author
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Sun, Hui, Yang, Xiaocong, Tang, Xuan, and Peng, Fei
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SMALL business , *TECHNOLOGICAL innovations , *SUBSIDIES , *INFORMATION measurement , *RESEARCH & development , *BUSINESS enterprises - Abstract
Technology-based small and medium enterprises (SMEs) are the driving force behind China's economic and technological development. However, these enterprises often face challenges in financing their research and development (R&D) activities due to limited financing opportunities. Previous research has primarily focused on the resource attributes of government innovation subsidies, which serve as a crucial funding source for these SMEs. This paper aims to explore the impact of government innovation subsidies on firms from a novel perspective, considering the signaling characteristics of these subsidies. The theoretical foundation of this study lies in the asymmetric information theory and the signaling mechanism through which government subsidies send signals about enterprises. The study uses enterprise data from 2012 to 2019 to investigate the effect of government subsidies on the R&D investment of enterprises listed on the SMEs Board in Chinese stock market. The results reveal a significantly positive effect of government subsidies on the R&D investment of SME Board–listed enterprises and verify the mediating role of financing constraints in this effect. The extent to which government subsidies influence the R&D investment of SME Board–listed enterprises is associated with the enterprises' ownership characteristics, debt ratios, and times interest earned ratios. This study contributes to the literature on the SMEs Board market and may provide the Chinese government insights into developing industry policies that maximize the effectiveness of government subsidies. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
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9. Supply chain concentration and enterprise financialization: Evidence from listed companies in China's manufacturing industry.
- Author
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He, Huanhuan and Zuo, Zongwen
- Subjects
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BUSINESS enterprises , *FINANCIALIZATION , *SUPPLY chains , *MANUFACTURING industries , *COMMERCIAL credit , *TECHNOLOGICAL innovations - Abstract
Enterprise financialization will block the equipment update and technological innovation of enterprises by crowding out the main business funds. The risks and benefits of supply chain concentration will affect the enterprise financialization. This paper selects the panel data of A-share listed companies in China from 2009 to 2021, and uses fixed effect regression to analyze the impact of supply chain concentration on enterprise financialization. The conclusions show: both suppliers and customers concentration significantly promote the financialization of enterprises, and this conclusion is still valid after a series of tests; This kind of financialization effect is heterogeneous in four aspects: the nature of property rights, the scale of enterprises, the intensity of industrial competition and the level of economic development in the region where the enterprises are located; the mechanism analysis show that customer concentration can affect enterprise financialization through upstream commercial credit, but supplier concentration cannot affect enterprise financialization through downstream commercial credit. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
10. Knowledge search, knowledge integration and enterprise breakthrough innovation under the characteristics of innovation ecosystem network: The empirical evidence from enterprises in Beijing-Tianjin-Hebei region.
- Author
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Zhang, Yanli, Wang, Dantong, and Xu, Long
- Subjects
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TECHNOLOGICAL innovations , *INTERMEDIARIES (Information professionals) , *ECOSYSTEMS , *BUSINESS enterprises , *KNOWLEDGE management , *MANAGEMENT philosophy , *MANUFACTURING industries - Abstract
Enterprises acquire heterogeneous knowledge through external knowledge search and adapt to the change of external environment, which is of great significance to enterprise breakthrough innovation. This paper takes the innovation ecosystem as the boundary of the research paradigm. Based on innovation ecosystem theory, knowledge management theory and enterprise innovation theory, this paper constructs a moderated mediation model of the enterprise knowledge search, knowledge integration and breakthrough innovation under the characteristics of innovation ecosystem network. This model is tested on the survey data of 344 technology enterprise and manufacturing industries including R&D departments in the Beijing-Tianjin-Hebei region. The research results show that: knowledge integration plays part of the intermediary role between knowledge search and enterprise breakthrough innovation; the larger the network scale, the stronger the network connection, the stronger the intermediary role of knowledge integration on the relationship between knowledge search and enterprise breakthrough innovation. The research results reveal the important role of the innovation ecosystem in enterprise breakthrough innovation. At the same time, the research on knowledge search and enterprise breakthrough innovation should consider the network characteristics of innovation ecosystem and the ability of enterprise knowledge integration. [ABSTRACT FROM AUTHOR]
- Published
- 2021
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11. Can rising labor costs boost private sector R&D investment? : Evidence from a survey of Chinese private firms.
- Author
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Deng, Chuyao, Liu, Yang, and Gu, Doudou
- Subjects
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LABOR costs , *PRIVATE sector , *FREE enterprise , *MINIMUM wage , *TECHNOLOGICAL innovations , *BUSINESS enterprises - Abstract
This paper constructs a double difference model (DID) based on the China Private Enterprise Survey (CPES) data over the period 1995–2019, combined with the 2005 national census data and considering the policy shock of the implementation of the Chinese government's Minimum Wage Regulation in March 2004, to investigate whether rising labor costs promote private firms' innovation investment. Robustness tests are conducted using placebo tests and event study methods. The study finds that (1) rising labor costs significantly increase private firms' R&D investment and that this effect has significant lag and cumulative effects; (2) private industrial firms (especially above-scale private industrial firms) are more affected by rising labor costs than other private firms and have more incentives to increase innovation investment; and (3) innovation investment of below-scale private industrial firms is not significantly affected by rising labor costs. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
12. Impact of economic growth target constraints on enterprise technological innovation: Evidence from China.
- Author
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Li, Enji, An, Ziwei, Zhang, Chen, and Li, Hua
- Subjects
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ECONOMIC expansion , *TECHNOLOGICAL innovations , *ECONOMIC impact , *EMPLOYEE reviews , *BUSINESS enterprises , *CHINESE corporations - Abstract
By using the data from Chinese listed companies in the Shanghai and Shenzhen A-share market for the period 2007 to 2019 and the Report on the Work of the Government, this paper investigates the impact of the local government's economic growth target constraints on enterprise technological innovation and its mechanism. It is found that the local government's economic growth target constraints significantly inhibit enterprise technological innovation, which is more obvious in the samples of SOEs, regulated industries, and enterprises at low marketization levels. The change of government officials' performance appraisal indicators from the quantity to quality of economic growth can alleviate the negative effect. The mechanism effect test indicates that the local government's economic growth target constraints will aggravate enterprise financing constraints and decrease the contribution of R&D investment to enterprise performance, and further inhibit enterprise technological innovation. [ABSTRACT FROM AUTHOR]
- Published
- 2022
- Full Text
- View/download PDF
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