Enterprises In China Research Articles

Carbon emission trading scheme and corporate labor cost: Evidence from China

In the low-carbon economy era, the impacts of government environmental policies on the corporate labor force have received increasing attention. This study empirically examines the effects of the carbon emission trading scheme (ETS) on corporate labor costs using a sample of Chinese A-share listed companies in the industrial sector from 2007 to 2020. Empirical analysis shows that the ETS significantly increases corporate labor costs, and this finding is further supported by various robustness tests. Further analysis reveals that the ETS primarily affects labor costs by promoting the upgrading of the human capital structure, and the impact of the ETS on labor costs is more significant in enterprises in China's eastern region, those with higher labor intensity, and state-owned enterprises. Additionally, the effects of the ETS on corporate labor costs manifest mainly in the increase in the labor costs of ordinary employees. We contribute to the existing literature by enhancing the current understanding of the policy implications of the ETS and shedding light on the dynamics of corporate labor costs under the low-carbon economy.

Does digital inclusive finance promote carbon emission reduction of enterprises.

Can the information technology revolution lead to carbon emission reduction for firms? This study extends the limited evidence in the literature and investigate the role and mechanism of digital inclusive finance on enterprises' carbon emissions using panel data of 247 prefectural-level cities and 6019 industrial enterprises in China. Our findings indicate that digital inclusive finance can promote enterprise carbon emission reduction, and this effect remains significant after the instrumental variable estimation test. The effect has regional heterogeneity and the development of digital inclusive finance in the area east of Hu Huanyong line has a significant impact on reducing enterprise carbon emission. The role of digital inclusive finance is heterogeneous in enterprise ownership, with a remarkable effect in non-state-owned enterprises. Sub-dimension analysis indicates that the breadth of coverage, depth of use, and degree of digitalization of digital inclusive finance have differential effects on reducing enterprise carbon emissions. The stepwise regression method shows that the impact of digital inclusive finance on enterprise carbon emissions can be passed through effect of technological progress, environmental protection investment and financing constrain. This study has significant reference value for evaluating the impact of financial inclusion and policy implications in formulating differentiated strategies for achieving carbon emission reduction efficiency in enterprises.

Promoting Traditional Enterprise Management Innovation Through Informatization

This study explores the benefits and challenges of traditional enterprises in China in adopting informatization. The findings reveal that traditional enterprises face a variety of challenges, including resistance to change, lack of digital skills, outdated IT infrastructure, and limited government funding. However, informatization has led to significant improvements in product and service quality, productivity, cost savings, and innovation for the respondent enterprises. Strategies to overcome these challenges include developing a change management program, establishing a dedicated committee for budget allocation, fostering a culture of collaboration and communication among stakeholders, conducting a thorough assessment of current systems, developing a talent management strategy, collaborating with industry associations and government agencies, building a network of regulatory experts, and developing a proactive approach to engagement with regulatory agencies. Leadership commitment and financial resources are critical to the success of informatization initiatives. Technological infrastructure is crucial for information security and reliability. Government policies have mixed views on their impact on digital transformation efforts. Recommendations include addressing resistance to change, developing digital skills, overcoming hierarchical structures, communicating benefits, investing in technology, improving technological infrastructure, enhancing cybersecurity measures, and advocating for supportive policies.

Marketing Channels for Contract Financing Control of High-tech Listed Companies: Basis for Strategic Plan

Abstract. China's high-tech enterprises have experienced exponential growth in both number and market value, with significant contributions to innovation-driven development, as evidenced by the proliferation of listed companies on the Science and Technology Innovation Board and the Beijing Stock Exchange. This study delved into an assessment of corporate governance, internal control management, and risk management within high-tech enterprises in China, with a specific emphasis on contract financing control. Through a combination of analysis of publicly disclosed data, questionnaire surveys, and examination of internal control documents, the research aimed to provide targeted recommendations for enhancing internal control mechanisms and optimizing contract financing-related management systems. The findings highlighted strong compliance with domestic and international laws and regulations among the 10 selected high-tech listed companies, demonstrating robust performance across parent and subsidiary operations. While internal control documents were comprehensive, areas for improvement were identified. Despite favorable impacts of marketing channels on contract financing control strategies, challenges persisted, including identifying risk sources and addressing issues related to contract compliance, digital technology application, and customer security concerns. Notably, challenges in financial control marketing channel construction encompassed cash flow management, customer credit evaluation, bad debt, and default risks.

How does environmental regulations affect digital green innovation of high-pollution enterprises? Empirical evidence from China

Digital green innovation (DGI) is crucial for high-pollution enterprises to improve green performance. However, there is a paradox regarding the impact of environmental regulations on DGI, primarily due to the varied effects of diverse regulatory tools. To resolve this paradox, based on Neoclassical Economics and the Porter Hypothesis, we empirically examine the influence of heterogeneous environmental regulations on DGI using a sample of high-pollution enterprises in China. The conclusions indicate that environmental protection tax has a pushing-forward effect on DGI, while environmental protection subsidy has a crowding-out effect. Moreover, enterprises' resource base and technological innovation capability positively moderate the impact of environmental protection tax. External pressure, internal incentives, pandering to governments, and managerial opportunism have mediating effects. Our research offers a new perspective to resolve the paradox of the effect of environmental regulations on DGI, explores potential mechanism as well as boundary condition, and proposes a new way of measuring DGI of enterprises with patents. Accordingly, we offer valuable policy recommendations about the formulation of environmental regulations, the facilitation of DGI, and the advancement of China's ecological civilization.

Striking the balance: Configurations of causation and effectuation principles for SME performance

Causation and effectuation are two fundamental decision-making logics that managers use for crucial firm strategic decisions. However, existing research has yet to agree on the relationship between the two logics, supporting both the substitution and complementarity of causation and effectuation in influencing firm performance. This leaves us with a puzzle: How do causation and effectuation combine in balance to improve firm performance? To address the gap, we utilize a fuzzy set qualitative comparative analysis (fsQCA) with data collected from 344 small to medium-sized enterprises (SMEs) in China to uncover the dynamic relationships between the two logics. Our findings indicate that causation or effectuation alone is insufficient to achieve superior firm performance. By distinguishing between four dimensions of effectuation, we identify three types of configurations for high performance: (1) causation with promotion-focused effectuation principles; (2) causation with prevention-focused effectuation principles; (3) causation with hybrid-focused effectuation principles. More importantly, we find that the effectiveness of the configurations depends on the firm development stage. Our findings provide SMEs with practical insights into how to effectively choose their decision-making logic when faced with different firm growth challenges.

A Novel Risk-Perception Model Based on Blockchain for Supply Chain Finance of China Real Estate

More than 220 enterprises in China's real estate industry have gone bankrupt, causing serious losses. The National Bureau of Statistics of China showed that the country's investment in property development fell by 8.5% year-on-year, while domestic lending dropped by 11.5% and the use of foreign capital fell by 43%. Upon this, the development of supply chain finance can alleviate the pressure on enterprise funds and stabilize the real estate market. However, risk in supply chain finance is the biggest obstacle to the development of supply chain finance and current researches on risk assessment of supply chain finance face problems such as imprecise classification, slow assessment speed, a small number of samples, and data that is easily tampered with. Therefore, this study integrated graph convolutional neural networks into the smart contracts of the contract layer of blockchain. This integration established a novel intelligent perception model for supply chain finance risk. Based on a consortium chain with the government and enterprises as nodes, the model was established, including risk monitoring, assessment, and categorized early warnings. In the risk assessment part, we compared the graph convolutional neural network with multilayer perceptron and support vector machine finding that the accuracy rate of the graphic convolutional neural network is 94%, which is higher than the above models. The intelligent risk-perception model proposed in this paper operates faster than expert judgment assessments used by banks. It also provides accurate risk levels and quantifies the probability of enterprises being classified as high-risk, offering technical support to regulatory authorities in controlling supply chain financial risk.

A Case Study on the Application of New Media Technology and Market Expansion of Rural Enterprises in Central China

New media has become a critical marketing method in modern times and plays a vital role in rural China's market expansion and development. Currently, the sales of agricultural products by Chinese rural enterprises have become an indispensable part of agricultural product marketing. In the face of fierce market competition, these companies must focus on building agricultural product brands to enhance market competitiveness continuously. However, under the influence of traditional economic concepts and production models, enterprises in some rural areas of China still need to understand brand building, which limits the effective use of new media and results in certain constraints on marketing agricultural products. Therefore, this article aims to conduct an in-depth study of how rural enterprises use new media technology to highlight their products' unique features and advantages by formulating effective marketing promotion strategies.In the face of fierce market competition, rural enterprises need to use creative marketing methods to increase the visibility and recognition of their products. To this end, researchers have proposed marketing promotion strategies through new media technology. In the process of brand building, this article emphasizes the combination of product characteristics and local culture to ensure that the brand image is more in line with the tastes and needs of local consumers. Through innovative designs of brand logos, slogans, etc., rural enterprises are expected to stand out in the market and enhance their competitiveness in new media marketing. Ultimately, this article aims to provide compelling new media marketing strategies for rural enterprises to promote the upgrade of their brand image and improve the market competitiveness of agricultural product sales.

How mixed ownership affects investment efficiency? evidence from state-owned enterprises in China.

The inefficiency observed in investment within state-owned enterprises presents a significant practical challenge that can affect the sustainable development of China's economy. To address this issue, this study comprehensively explores the intricate mechanisms underlying the governance implications of mixed ownership on the investment efficiency of listed companies. Drawing on unbalanced panel data encompassing Shanghai and Shenzhen Stock Exchange A-share listed companies in China spanning the period from 2008 to 2022, this study employs a fixed-effects model to unveil the nuanced ways in which mixed ownership influences investment efficiency through the lens of agency costs. This study transcends the boundaries of traditional agency conflicts between managers and shareholders. It delves deeper, illuminating the diverse effects of agency conflicts between significant controlling shareholders and minority shareholders. The results revealed a noteworthy positive correlation between mixed ownership and investment efficiency, and verified the intermediary role of agency costs between mixed ownership and investment efficiency, which is an important result of our research. Heterogeneity analysis indicates that the relationship between the two can be affected by external events, such as during the COVID-19 pandemic, investment efficiency is not the most concerned issue for enterprises. The findings have practical implications for practitioners and policymakers, as they offer avenues for optimizing investment strategies and fostering efficient and effective corporate governance practices.

Servitization level, digital transformation, and enterprise performance of sporting goods manufacturing enterprises in China

To identify the effect and mechanism of servitization level and digital transformation on the performance of listed sporting goods manufacturing enterprises in China, we construct an index to measure the degree of digital transformation using data from 31 sporting goods manufacturing firms listed on Shanghai and Shenzhen A-shares and the New Over-the-Counter Market in China. The study uses the proportion of service business income in enterprise operating income to quantify servitization level, by analyzing the semantic expression of national digital economy policy and collecting digital category keywords from enterprise annual reports using crawler technology. Thereafter, we analyze the impact of servitization extent and digital transformation on company outcomes as well as if digital evolution acts as a moderating factor between servitization and company outcomes. The findings indicate that the extent of servitization reduces the outcomes of publicly traded sporting commodities production companies, showing a servitization paradox occurrence. Digital transformation degree has a positive U-shaped impact on enterprise performance and a weak positive moderating effect on servitization level and enterprise performance.

Analysis on Influencing Factors of Innovation Behavior of Specialized and New Enterprise Small and Micro Enterprises

As China continues to strengthen the cultivation of specialized and ultra-new small and micro enterprises, and promote the development of related enterprises in China's basic industries, now "specialization and innovation" enterprises have become a new power to enhance the industrial chain power and high-quality development pattern. However, the development of all kinds of "little giant" enterprises is still in the middle and low end of the industrial chain, the core creativity is still very lacking, and it is easy to be eliminated and replaced in the fierce competition of existing technology and innovation. In this regard, from the perspective of "innovation", this paper will use Probit model to empirically analyze the internal and external factors and constraints that affect the innovation behavior of small and medium-sized enterprises, among which government subsidies and human capital cultivation have significant negative and positive effects on enterprise innovation respectively. At the end of the paper, we try to find a way to solve the core problem of "innovation difficulty" of small, medium and micro enterprises under the background of "specialization and innovation" from multiple perspectives.

Foreign Direct Investment and New Quality Productivity of Enterprises

Now China is opening up to the outside world at a high level. In the process of utilising foreign investment, it is significant to study how foreign direct investment (FDI) affects the formation of new quality productivity of enterprises in China. This paper examines the impact of FDI on new quality productivity of enterprises. Results using financial statement data of A-share listed companies and FDI level data of the cities where the companies are located from 2011 to 2020 show that FDI has a significant promotion effect on the enhancement of new quality productivity of enterprises. Further analysis reveals that the positive effect is generated through the channels of improving enterprise innovation ability and easing enterprise financing constraints, predominantly observed in non-state-owned enterprises. The test for moderating effect shows that a high degree of capital market openness has a significant positive effect on the formation of new quality productivity of enterprises influenced by FDI. The results of this paper provide a theoretical perspective of FDI for further research on the new quality productivity of enterprises.

Can entrepreneurship in the new era promote green innovation efficiency? evidence from manufacturing enterprises in China

ABSTRACT Based on panel data of 398 listed manufacturing companies in China's Shenzhen – Shanghai A-shares from 2012 to 2022, this study uses the double fixed effect model to explore the direct impact and heterogeneity of entrepreneurship in the new era on the green innovation efficiency of manufacturing enterprises and utilises the intermediary effect model to investigate the indirect mechanism of entrepreneurship in the new era on the green innovation efficiency of manufacturing enterprises. Research has shown that entrepreneurship in the new era can significantly improve the efficiency of green innovation in manufacturing enterprises, especially for state-owned, technology-intensive, labour-intensive, and non-heavy polluters. The mechanism test results show that entrepreneurship in the new era increases enterprise performance, promotes the driving effect of digital transformation on manufacturing enterprises’ green innovation efficiency, and is an important channel for improving this efficiency. This study contributes to a deeper understanding of the driving effect of entrepreneurship in China's new era, provides a reference for the innovation practice of promoting green transformation in the manufacturing industry, and provides important theoretical and empirical evidence for expanding the research frontier of green innovation efficiency.

The Impact of Environmental Regulation on Green Innovation of Environmental Enterprises in China: The Moderating Effect of R&D Investment and Government Green Subsidies

The Impact of Environmental Regulation on Green Innovation of Environmental Enterprises in China: The Moderating Effect of R&D Investment and Government Green Subsidies

Unlocking new opportunities in the industry 4.0 era, exploring the critical impact of digital technology on sustainable performance and the mediating role of GSCM practices

In the context of industry 4.0, digital technology has become one of the core drivers of production and operations for enterprises, promoting the transformation of businesses towards more sustainable development models. Concurrently, green supply chain management (GSCM) practices contribute to the development of sound business strategies for driving sustainable development. This study examines the impact of digital technology on sustainable performance in the context of industry 4.0, from the perspective of practice-based view (PBV) theory and information processing theory (IPT). It also focuses on the mediating role of GSCM practices in the influence of digital technology on sustainable performance. Data was collected from 486 manufacturing enterprises in China for empirical analysis using the PLS-SEM method. The results indicate that: (1) Under the industry 4.0 context, digital technology (IDT) has a significant positive impact on environmental performance (EP), economic performance (ECP), and social performance (SP). (2) IDT has a significant positive effect on green manufacturing (GM), green purchasing (GP), green design (GD), green information systems (GIS), reverse logistics (RL) and investment recovery (IR). (3) GM, GP, GD, GIS, RL, IR have significant positive effects on EP, ECP and SP. (4) Among the six different dimensions of GSCM practices, IDT has a partially mediating effect through CM on EP, a partially mediating effect through GM on ECP and SP, a partially mediating effect through GP on EP and SP, a partially mediating effect through GD on EP, ECP, and SP, a partially mediating effect through GIS on ECP and SP, a partially mediating effect through RL on EP, ECP, and SP. Finally, IDT has a partially mediating effect through IR on EP and SP. It is noteworthy that GP does not have a mediating effect between IDT and ECP, GIS does not have a mediating effect on EP, and IR does not have a mediating effect between IDT and ECP. By conducting in-depth research on the impact of digital technology on the economic, environmental, and social performance of enterprises in the industry 4.0 environment, this study aims to promote the enhancement of sustainable performance for businesses. It also aims to provide specific strategies and practical guidance for enterprises to promote sustainable development in the industry 4.0 era.

Can carbon emissions trading policy promote product bargaining power increases for high-carbon enterprises? Evidence from China.

Carbon emissions trading policies play a crucial role in facilitating the transition to high-end products within high-carbon enterprises. Nevertheless, current empirical analyses of the carbon emissions trading market exhibit a lack of precision and are susceptible to bias in their findings. Limited research has been conducted on the influence of product quality as a potential constraint on the impact of carbon trading on product bargaining power. This study presents a double-difference model utilizing data on emission-control enterprises in China's carbon market to examine the influence of the carbon emissions trading mechanism on the bargaining power of high-carbon products. Empirical analysis is conducted using financial data from listed companies in China spanning the years 2010 to 2020. The findings indicate that the implementation of carbon emissions trading policies has a dampening impact on the product bargaining power of high-carbon enterprises. Moreover, carbon emissions trading policies have heterogeneous effects on the product bargaining power of high-carbon firms with different life cycles, with mature high-carbon firms receiving a boost and declining high-carbon firms receiving a dampening effect. Mechanism test finds that the incomplete transmission effect of cost shocks resulting from carbon emissions trading policies has negatively affect the product bargaining power of high-carbon enterprises. Further research finds that product quality is a key factor in determining the effect of the carbon emissions trading policy, and that the impact of the carbon emissions trading policy on the bargaining power of products of high-carbon firms takes on a "U" shape due to product quality. Once the product quality exceeds the bottleneck value of 0.5956, the policy significantly increases the bargaining power of products. The study confirms that the establishment of carbon markets can effectively increase the bargaining power of superior products. These results offer a comprehensive theoretical and practical foundation for nations to advance the development of carbon markets and facilitate the achievement of sustainable development by high-carbon enterprises.

How to Leverage Digital Sustainability Orientation to Promote Environmentally Sustainable Practices of Manufacturing Enterprises in China

The promotion of high-quality, environmentally sustainable practices in enterprises in the digital age has become an important topic in business and academic circles. In this study, by employing a perspective combining digital orientation (DO) and sustainability commitment orientation (SCO), the concept of digital sustainability orientation (DSO) is presented, and digital green capability (DGC) is introduced as the mediating variable. Moreover, the driving mechanism model of corporate environmental sustainability practice (ESP) is constructed, and the moderating role of environmental scanning (ES) is taken into consideration. Using two sets of research data from 353 manufacturing enterprises in China, the empirical test results show that DSO has a significant role in improving ESP, and DGC is important in mediating between DSO and ESP. ES acts as a moderating variable between DSO and DGC and further moderates the mediating role of DGC between DSO and EPS; that is, the stronger the ES, the more significant the mediating effect of DGC. The conclusion of this study broadens the application scope of strategic orientation theory in the study of digital sustainability and has theoretical and practical implications for exploring the development of DGC and the dynamic mechanism of ESP.

Balance or Combine? Ambidextrous Innovation Strategy Selection of International Entrepreneurial-Oriented Enterprises in China

Balance or Combine? Ambidextrous Innovation Strategy Selection of International Entrepreneurial-Oriented Enterprises in China

When do state-owned enterprises innovate? The moderating role of pro-market institutions

ABSTRACT I explore how pro-market institutions moderate the relationship between private or state ownership and innovation. Due to political and social connections, state-owned enterprises (SOEs) have several advantages over private-owned enterprises (POEs) in China, but I hypothesise that these advantages wane when institutional environments prioritise market competition, rule of law, and the rewards to profitable enterprise. Using data from the World Bank’s Enterprise Survey in China, the results suggest that POEs are more innovative than SOEs but only in market-oriented provinces. In provinces that are not market-oriented, SOEs are more innovative than POEs.

The industrial internet and green technology innovation

This study selects a sample of A-share listed companies in China's heavy pollution industry from 2014 to 2022 to examine the impact of the industrial Internet on enterprises’ green technology innovation. Based on the findings, the application of the industrial Internet not only improves the level of green technology innovation among enterprises in China's heavy pollution industry, but it also improves their organizational capacity to promote such innovation. In addition, the application of the industrial Internet is more conducive to the improvement of green technology innovation in state-owned enterprises, compared to private enterprises.