Development Ability Of Enterprises Research Articles

Case Study of Financial Situation Based on Harvard Analysis Framework

The pharmaceutical industry, as an industry closely related to public health, also plays a huge role in promoting the development of China's economy and is a major part of China's economy. This paper adopts the Harvard analysis framework, comprehensively uses the strategic analysis, accounting analysis, financial analysis and other relevant theories, and analyzes the current situation of Huadong Medicine Co., Ltd., and puts forward a series of suggestions and measures. This paper elaborated the company profile, strategy analysis, accounting analysis, financial analysis and prospect analysis of Huadong Medicine Co., Ltd., and pointed out the problems faced by Huadong Medicine Co., Ltd., such as lack of strategic development analysis, single financing channel, unclear cost accounting, etc. This paper puts forward a series of solutions and suggestions, such as timely adjustment of strategy development, broadening financing methods and financing channels, improving cost accounting level and adopting various strategies to improve enterprise development ability. The whole article aims to provide all-round support and guidance for the development of Huadong Medicine Co., Ltd., with high practical and theoretical value.

Nonlinear effects of enterprise digital transformation on environmental, social and governance (ESG) performance: evidence from China

PurposeThe purpose of this study is to investigate whether the corporate environmental, social and governance (ESG) performance of enterprise is influenced by the enterprise digital transformation. In addition, this study explains how enterprise digital transformation affects ESG performance.Design/methodology/approachThe sample covers 4,646 nonfinancial companies listed on China’s A-share market from 2009 to 2021. The study adopts the fixed-effects multiple linear regression to perform the data analysis.FindingsThe study finds that enterprise digital transformation has a significant inverted U-shaped impact on ESG performance. Moderate digital transformation can improve enterprise ESG performance, whereas excessive digital transformation will bring new organizational conflicts and increase enterprise costs, which is detrimental to ESG performance. This inverted U-shaped effect is more pronounced in industrial cities, manufacturing industries and enterprises with less financing constraints and executives with financial backgrounds. Enterprise digital transformation mainly affects ESG performance by affecting the level of internal information communication and disclosure, the level of internal control and the principal-agent cost.Practical implicationsThe government should take multiple measures to encourage enterprises to choose appropriate digital transformation based on their own production behaviors and development strategies, encourage them to innovate and upgrade their organizational management and development models in conjunction with digital transformation and guide them to use digital technology to improve ESG performance.Social implicationsThis study shows that irrational digital transformation cannot effectively improve the ESG performance of enterprises and promote the sustainable development of the country. Enterprises should carry out reasonable digital transformation according to their own development needs and finally improve the green and sustainable development ability of enterprises and promote the sustainable development of society.Originality/valueThis study examines the relationship between enterprise digital transformation and ESG performance. Different from the linear relationship between the two in previous major studies, this study proves the inverse U-shaped relationship between enterprise digital transformation and ESG performance through mathematical theoretical model derivation and empirical test. This study also explores in detail how corporate digital transformation affects ESG performance, as well as discusses heterogeneity at the city, industry and firm levels. It is proposed that enterprises should take into account their own characteristics and carry out reasonable digital transformation according to their development needs.

Construction of Enterprise Green Accounting Information Disclosure System under the “Double Carbon” Goal

Abstract Enterprises are the key participants in realizing the development of a green and low-carbon economy and are the main promoters of the environmental transformation and healthy development of the industry, and the green accounting information disclosure truly reflects the important indexes of green development of enterprises. In this paper, the relevant data of 15 listed companies in the paper industry from 2013 to 2023 are selected as samples to carry out empirical analysis, and their green accounting disclosure reports are used as the basis for calculating the GAID scores of the companies. A multiple linear regression model is created to test the disclosure-related research hypotheses, with the goal of discovering the factors that influence the current quality of enterprises’ green accounting disclosure. The fluctuation range of GAID scores of most of the fifteen listed enterprises in the paper industry is between 40 and 70, and there are also 20% of enterprises with GAID scores lower than 40. Enterprise size, proportion of outstanding shares, enterprise value, and enterprise development ability are significantly positively correlated with the quality of corporate green accounting disclosure at the 1% or 5% level, and the quality of disclosure increases by 0.151% for every 1% increase in enterprise size. In the enterprise green accounting information disclosure, enterprises need to be, based on their situation, reasonable and comprehensive information released in order to effectively enhance their corporate image and promote the green and sustainable development of enterprises.

Research on the Stock Investment Value of Internet Listed Enterprises

Based on the multivariate statistical analysis method, this paper studies the investment value of Chinese Internet listed companies. Firstly, the factors affecting the investment value of Internet enterprises are analyzed from macro and micro aspects, and the index evaluation system is constructed respectively.Secondly, 90 Internet enterprises are selected and empirically studied by factor analysis and cluster analysis. Finally, four companies with good performance in each field are selected to use ARIMA model to forecast stock prices in the next five days.The results show that Chinese Internet enterprises as a whole have relatively high investment value, and the solvency and future development ability of enterprises have a great impact on the investment value of Internet enterprises.

Does ESG Rating Affect Corporate Innovation?

Promoting the development of innovation is the core requirement for achieving economic growth in the new era. The performance of Environmental, Social responsibility and Governance (ESG) is an important indicator to measure the sustainable development ability of enterprises. How the ESG rating affects the corporate innovation is still a hot issue that needs to be answered urgently. Based on the quasi-natural experiment of SynTao Green Finance's announcement of ESG rating in 2015, we use Chinese listed companies in Shanghai and Shenzhen from 2011 to 2019 as samples to test the impact of ESG rating on corporate innovation and its transmission mechanism. The research results show that there is a significant positive relationship between ESG rating and corporate innovation, and ESG rating mainly promotes corporate innovation by reducing agency costs and easing financing constraints. This research helps to clarify the relationship between ESG rating and corporate innovation, and can provide an important reference for the Chinese government to formulate relevant policies to improve the ESG rating system, promote corporate innovation and sustainable economic development.

Assessing the Impact of Green Innovation on Corporate Sustainable Development

Under the background of increasingly prominent environmental problems, exploring the impact of green innovation on the sustainable development ability of enterprises not only can expand the boundary of the research on the factors influencing enterprises’ sustainable development ability and the economic consequences of green innovation but also can provide reference for the decision-making of the listed companies. On the basis of the manual collection of green innovation patent data from China National Intellectual Property Administration, this paper selects the Chinese A-share listed companies from 2010 to 2018 as the research subject and empirically tests the impact of green innovation on the corporate sustainable development ability. The results show that the output of green innovation significantly improves the corporate sustainable development ability. This result is economically significant. Specifically, a one–standard deviation increase (0.8147) of GI translates into a sustainable growth rate of 20.78 percentage points (0.0175*0.8147/0.0686) higher. The relationship between the output of green innovation and corporate sustainable development ability is more significant when the corporate social responsibility performance is worse or scientific research ability is weaker. A series of robustness test results show that the conclusions are reliable. Further test shows that green innovation plays a more significant role in enhancing the corporate sustainable development ability in non–state-owned enterprises. In addition, only invention patents of green innovation can significantly improve the corporate sustainable development ability, whereas non-invention patents cannot affect it. This paper provides a new perspective for the research on the factors affecting the corporate sustainable development ability. Furthermore, the research conclusions of this paper are of reference significance both in theory and practice.

The Impact of On-the-Job Consumption on the Sustainable Development of Enterprises

Under certain circumstances, on-the-job consumption is conducive to improving the resilience of the supply chain and the sustainable development ability of enterprises. Using China’s A-share listed companies from 2008 to 2019 as sample data in conjunction with the deconstructive analysis of on-the-job consumption, we used the multiple linear regression model of econometrics to deeply analyze the impact of on-the-job consumption on the sustainable development of enterprises, test the regulatory effect of innovation efficiency, and explore the governance effect of internal control and anti-corruption. Research shows that reasonable and excessive on-the-job consumption have positive and inhibitory effects, respectively, on the sustainable development of enterprises and the relationship between innovation efficiency and the sustainable development of enterprises. Compared to private enterprises, the positive effect of reasonable on-the-job consumption is smaller in state-owned enterprises, while the negative effect of excessive on-the-job consumption is larger in state-owned enterprises. Further research suggests that internal control can weaken the inhibitory effect of excessive on-the-job consumption on the positive relationship between the innovation efficiency and the sustainable development of enterprises, and the weakening effect is even greater after the implementation of anti-corruption policies. Anti-corruption policies and internal control can form a complementary force, effectively restrain the agency effect of excessive on-the-job consumption, and promote the sustainable development of enterprises. This research not only expands the research perspective of on-the-job consumption but also adds new theoretical explanations and empirical evidence for how to achieve the sustainable development of enterprises.

A Prospect Theory-Based Evidential Reasoning Approach for Multi-expert Multi-criteria Decision-Making with Uncertainty Considering the Psychological Cognition of Experts

To model and deal with complex decision-making problems, many methods have been proposed in the past decades. However, how to deal with probabilistic uncertainty is still an open question. In this regard, this paper introduces a prospect theory-based evidential reasoning (ER) approach to process such uncertainty in multi-expert multi-criteria decision-making. Firstly, we introduce a novel way to model the uncertainty by assigning the uncertain belief to the envelope of evidence, which makes the expression consistent with experts’ perceptions. The ER approach is used to aggregate individual decision-making matrices with probabilistic uncertainty to obtain a collective matrix. Then, the ER approach is applied again on the obtained collective matrix to aggregate the evaluations under different criteria to generate the comprehensive evaluation of each alternative. Given that the decision-maker may have different risk preferences to gain and loss from those of the experts, we introduce a prospect function of evaluation grades to rank alternatives. In this way, we can obtain the ranking of alternatives which considers both the evaluations of experts and the risk preference of the decision-maker. The advantages of this method are highlighted by a case study concerning the evaluation of sustainable development ability of enterprises.

The Comprehensive Assessment of Rural Power Enterprisedevelopment Ability Based on FAHP

For quantitatively and comprehensively evaluating on the ability of rural power enterprise development,and according to the "San Xin" requestment on rural development,a multilevel evaluation with first-layer of five factors including economic benefit, management level, personnel quality, power structure and development potential and second-layer of seventeen indicators was established with consideration on the main factors affecting rural power enterprise development.A comprehensive evaluation of rural power enterprise development ability model was proposed through using the method of fuzzy analytic hierarchy process (FAHP). The weight of each evaluation index was determined by AHP, and then combined with the experts scoring,FAHP was used to determine present situation of rural power devepment .An illustration with the evaluation result of "medium"indicates that this method is feasible to evaluate rural power enterprise development.

Using the Particle Swarm Optimization Model to Evaluate the Wind Power Enterprise Development Ability under Low-Carbon Economy Environment

Electricity is the basic industry in China, which has the important strategic significance to maintain the social stability, ensure the national security and promote the economic development. With the rapid development of power market reform and the establishment of bidding for access mechanism, the competition among the power generation enterprises becomes much drastic. To evaluate the development ability of wind power enterprises in the power new energy, the authors proposed a novel particle swarm optimization (PSO) algorithm, which used the randomness, the rapidity and the global characteristics to obtain the pheromone distribution, and had the faster convergence velocity. The development ability evaluation of 12 wind power enterprises showed that the results given by this model were reliable, and it is feasible to evaluate the development ability using this method.