High-tech Manufacturing Company Research Articles

Research on the impact of financialization of high-tech manufacturing listed companies on real investment

ABSTRACT As economic globalization deepens, financialization becomes a driving force for global economic development. Financialization in high-tech manufacturing companies optimizes capital allocation and enhances overall company value. However, it also poses risks by squeezing limited company resources, leading to a significant shift of industrial capital from the real sector to the virtual sector, impacting real investment levels. This study aims to investigate the impact of financialization on real investment, using a sample of 366 listed high-tech manufacturing companies in China from 2011 to 2020. Empirical analysis reveals that financialization of these companies exerts a crowding-out effect on real investment, leading to a reduction in real investment. Moreover, the influence of different types of financial assets on real investment exhibits variations. Besides, as macroeconomic policies become more lenient, the negative impact of financialization on real investment intensifies, while financial constraints reinforce the adverse relationship between financialization and real investment. Finally, this study provides recommendations to enhance comprehension and guidance of financialization activities among listed high-tech manufacturing companies, aiming to mitigate the detrimental effects of excessive financialization on the real economy.

THE INFLUENCE OF FIRM KNOWLEDGE CHARACTERISTICS ON TECHNOLOGICAL INNOVATION: A MULTILEVEL NETWORK STRUCTURE PERSPECTIVE

This study describes collaboration between firms and different organizations as a process of knowledge sharing, integrating inter-organizational collaboration networks and knowledge networks into a unified framework. It analyzes the bilayer structure of collaborative innovation networks, namely, the firm-knowledge bipartite network. The study investigates the impact of firm knowledge characteristics (diversity and uniqueness) on breakthrough and incremental innovation within collaborative innovation networks. The research employs patent data from Chinese A-share high-tech manufacturing companies listed from 2000 to 2018 and verifies the related hypotheses using a negative binomial regression model. The results suggest that, within collaborative innovation networks, firm knowledge diversity has a negative impact on breakthrough innovation but a positive impact on incremental innovation. On the other hand, firm knowledge uniqueness plays a positive role in breakthrough innovation but a negative role in incremental innovation. This study extends the understanding of firm technological innovation by considering both breakthrough and incremental innovation as distinct behaviors, providing a new perspective on the mechanisms underlying different innovation behaviors. By adopting a multilevel network structure approach to collaborative innovation, it contributes to a deeper understanding of internal and external factors influencing firm innovation behavior and expands the application scope of social network analysis.

Digital transformation enablers in high-tech and low-tech companies: A comparative analysis

Digital transformation (DT) is a complex, socio-technical, strategic, and often radical change influenced by various aspects, among which non-technological, organizational factors play significant roles. The literature on DT enablers suggests sensitivity to the organizational context, especially to the technology intensity of companies. This article analyzes the variations in non-technological DT enablers in high-tech and low-tech manufacturing companies. Through a systematic literature review, using coding techniques and cluster analysis, we created 20 aggregated enabler categories. With the Decision Making Trial and Evaluation Laboratory (DEMATEL) method, clustered DT enablers in high-tech and low-tech companies were compared. High-tech companies enable DT with the factors related primarily to organizational flexibility and dynamism. In contrast, low-tech firms propel DT with the enablers connected to more stable, traditional, managerial practices. JEL Classification: 031 and 032

Research on the Synergic Influences of Digital Capabilities and Technological Capabilities on Digital Innovation

Digital innovation is the key for enterprises to obtain core competitiveness in today’s increasingly fierce market environment. Based on a sample of high-tech manufacturing companies listed in the Shanghai and Shenzhen A-shares from 2011 to 2020, this paper empirically tests the impact mechanism of the synergic influence of digital capabilities and technological capabilities of enterprises on digital innovation by using static panel regression, dynamic panel regression, and the moderation of social capital on their relationship. The results show that the synergic influence of digital capability and technology absorptive capability has a positive correlation with enterprise digital innovation. The synergy of digital capabilities and technological innovation capabilities has a positive correlation with enterprise digital innovation. Social capital plays a positive moderating role in the impact of the two synergic influences on digital innovation. The results imply that strengthening the coordinated development of digital capabilities and technological capabilities is essential for enterprises to carry out digital innovation, which is of great significance for the high-quality development of the manufacturing industry.

A study of Lean Production and Quality Management on Production Performance: The Evidence in High-tech Manufacturing Companies in China

Based on the relevant studies of lean production, production technology improvement, quality management and production performance, the relationship model of lean production, production technology improvement, quality management and production performance of high-tech manufacturing companies is constructed, and the influence mechanism of lean production and production technology improvement on production performance of high-tech manufacturing companies is revealed. Specifically, by systematically reviewing relevant theories and existing research results, this paper proposes a logical idea of “lean production, production technology improvement — quality management — production performance”, discusses and proposes relevant research hypotheses according to the relationship between variables in the theoretical model, and sends out questionnaires to Chinese high-tech manufacturing companies on a large scale, and recovers 425 questionnaires. The incomplete or invalid questionnaires with obvious errors were eliminated, and 411 valid questionnaires were finally obtained. The statistical analysis software SPSS 24.0 and AMOS 24.0 were used for reliability analysis, validity analysis, exploratory factor analysis, typical correlation analysis of the collected data, multiple linear regression analysis model and mediation effect model was established. Test the theoretical paper. In this paper, a total of 7 research hypotheses are proposed, among which 7 hypotheses are supported by the survey data. Combining qualitative analysis and quantitative analysis, this paper draws the following conclusions: (1) Lean production has a significant positive impact on the production performance of high-tech manufacturing companies; (2) The improvement of production technology has a significant positive effect on the production performance of high-tech manufacturing companies; (3) Quality management has a significant positive effect on the production performance of high-tech manufacturing companies; (4) Quality management has a partial mediating effect between lean production and production performance of high-tech manufacturing companies; (5) Quality management plays a partial mediating role between production technology improvement and production performance of high-tech manufacturing companies.

Career Management of R&D Employees on Organizational Competence: A Perspective from Chinese High-Tech Manufacturing Enterprises

Past studies have shown that employee career management in Chinese high-tech manufacturing companies can affect the individual performance of employees, and then affect the overall performance of the company; Qualification management is an important means for corporate human resources to intervene in employee career management and has a certain impact on employee variable career; And employee variable career has certain influence on organizational competence. This purpose of this study is to further explore the influencing factors of the organizational competence of Chinese high-tech manufacturing enterprises in the field of talent capability management. This study used the quantitative design and selects more than 60 high-tech manufacturing enterprises in Shenzhen, Guangzhou, Chongqing, Suzhou, Jiangsu, and Xi’an, Shaanxi, and collects survey questionnaires through the Internet platform, and uses factor analysis to analyze the influencing factors in organizational competence, qualification management , employee career management and variable career , seek the internal relationship among different variables ; Put forward dimensions for reference in terms of employee capability management and organizational competence of Chinese high-tech manufacturing enterprises. The results of this study have certain theoretical and practical implications and significance for Chinese high-tech manufacturing enterprises to reduce the turnover rate of knowledge-based employees in the R&D system and continuously improve organizational competence in the era of knowledge economy. At the same time, it concluded and provides an innovative perspective for theorists who study the relationship between employee capability management and organizational ability.

Is the Importance of Market Orientation Growing? A Study of High-Tech Manufacturing Companies

Purpose: The article analyzes the market-orientation level and its impact on high-tech manufacturing companies’ competitiveness at two points in time. Design/methodology/approach: The analysis is based on data from two surveys from 2011 and 2019, conducted with the same questionnaire, in Poland, a state that has experienced many changes after 1989 and after joining the European Union in 2004. Findings: The results indicated that during the eight years between the surveys, the importance of high-tech companies’ market orientation grew considerably. Moreover, in 2011 the level of market orientation explained over 11% of the variance in the competitiveness of high-tech manufacturing companies, while in the 2019 survey, it explained over 22% of the variance. Moreover, nearly all highly competitive high-tech manufacturing companies analyzed in the study also revealed high levels of market orientation. Research limitations: The main limitation of the study is the fact that the findings refer to Polish manufacturing high-tech companies, so any generalizations to other regions or industries should be treated with caution. Research implications: Managers of high-tech companies should develop and maintain the highest possible level of market orientation. However, a high level of market orientation does not automatically guarantee high competitiveness. Originality: This study is the first to empirically test the influence of market orientation on high-tech companies’ competitiveness level in the “new EU countries” at two points in time.

Paradoxical leader behaviour effects on employee taking charge: A moderated – mediating model

We investigated how and when paradoxical leader behaviour (PLB) positively influenced employee taking charge, a typical exemplar of proactive behaviours. Participants were 644 employees of a large Chinese high-tech manufacturing company (male = 50.8%; mean age = 29.63 years, SD = 5.72 years). Based on hierarchical regression analysis and bootstrap analysis, the results indicated that PLB was associated with a higher probability of employee taking charge, with role breadth self-efficacy (RBSE) acting as a mediator for this relationship. Furthermore, promotion focus moderated this mediation relationship, such that the relationship was stronger for subordinates high in promotion focus. We concluded that contextual factor of PLB and individual differences of promotion focus were essential to enhance employees’ perception of RBSE and possibilities of taking charge.

Does R&D intensity promote the adoption of circular supply chain management? Evidence from China

This paper explores the relationship between research and development (R&D) intensity and circular supply chain management (CSCM) adoption of high-tech manufacturing companies in China to deepen our understanding of how to improve CSCM adoption in emerging economies. In particular, we examine the moderating effect of three kinds of institutional pressures (i.e., regulatory pressure from governmental regulations, mimetic pressure from industry competition, and normative pressure from overseas customer demand) from the perspective of institutional theory. Based on the panel data of 310 Chinese listed companies from 2006 to 2019, we find that R&D intensity positively affects firms’ CSCM adoption. We further observe that this positive effect is strengthened when the ratio of state-owned shares or the degree of industry competition is higher. However, overseas operating income does not affect the impact of R&D intensity on CSCM adoption. Our study contributes to the literature on the innovation – circular economy debate, confirming the positive effect of R&D intensity on firms' CSCM adoption, and provides insights into moderating effects on this relationship in an emerging economy context.

Does positive feedback support the stronger and weaken the weaker? The effects of supervisors’ positive feedback on newcomers’ task performance in the first 90 days

Purpose: This study aims to provide empirical evidence of how supervisors’ positive feedback plays a crucial role in newcomers’ task performance in the first 90 days of their employment.Design/methodology/approach: Data for this study were collected from newcomers and their immediate supervisors in a large high-tech manufacturing company in northern China. The study used a structured questionnaire to gather data from 229 newcomer-supervisor dyads, which were analysed through the application of structural equation modelling.Findings/results: The findings revealed that supervisors’ positive feedback positively affects newcomers’ task performance. The supervisors’ positive feedback enhances the task performance of newcomers’ by promoting energy and information seeking at work. In addition, the study also revealed that intrinsic motivation as a moderator strengthens the relationship between supervisors’ positive feedback and newcomers’ energy at work.Practical implications: Organiszations should place emphasis on supervisors’ positive feedback and newcomers’ level of intrinsic motivation in order to attain better performance in the workplace.Originality/value: This study highlights the need for organisations to pay attention to the dual roles of supervisors’ positive feedback and the intrinsic motivation of newcomers’ in improving task performance. Supervisors’ positive feedback boosts newcomers’ energy at work and aids their task performance when intrinsic motivation is high rather than low.

Critical Components Affecting Organizational Performance

ABSTRACT This paper builds a research model with four constructs, i.e., competencies, knowledge-oriented leadership, innovation, and performance within manufacturing companies to find out, through path modeling, 1) the effect of competencies on innovation, 2) the effect of knowledge-oriented leadership on innovation, and 3) the effect of innovation on performance. The survey instrument included four constructs – Competencies (COMP), Knowledge-oriented Leadership (LEAD), Innovation (INNO), and Performance (PERF). A marketing research company administered the instrument via computer-assisted telephone interviewing to subjects (N = 377) from 10 different high-tech manufacturing companies in Poland. Collected data were analyzed through partial least square structural equation modeling. The findings revealed that competencies and knowledge-oriented leadership positively and significantly influence innovation and innovation positively and significantly influence performance. Moreover, innovation was found to be a mediating variable between competencies and performance and knowledge-oriented leadership and performance. The theoretical and practical implications of the findings are discussed, followed by addressing the study’s limitations and future research directions.

The interrelationship between intellectual capital and firm performance: evidence from China's manufacturing sector

PurposeThe purpose of this paper is to examine the impact of intellectual capital (IC) and its components (human, structural and relational capitals) on the performance of manufacturing listed companies in China. This paper also investigates the impacts of company ownership, industry attributes and region on the IC-performance relationship.Design/methodology/approachThe study uses the data of 953 manufacturing companies listed on the Shanghai and Shenzhen Stock Exchanges over the period 2012–2016. The modified value-added intellectual coefficient (MVAIC) model is applied to measure IC efficiency. Finally, multiple regression analysis is employed to test the research hypotheses.FindingsThis study reveals that IC can enhance firm performance in China's manufacturing sector. Overall, earnings are affected by physical capital, human capital (HC) and structural capital (SC), and profitability and productivity are influenced by physical capital, HC, SC and relational capital. Physical capital is the most influential contributor to firm performance. In addition, state-owned enterprises have a greater impact of IC on firm performance than private-owned enterprises; high-tech manufacturing companies have higher IC performance than non-high-tech manufacturing companies; manufacturing companies in China's eastern region have higher IC performance than the counterparts in central and western regions.Practical implicationsThe findings may help managers, stakeholders and policymakers in developing countries to effectively and efficiently manage their IC resources.Originality/valueThis is the first study to evaluate IC and its relationship with firm performance among Chinese manufacturing listed companies using the MVAIC model.

The Impact of Surface and Deep Acting on Employee Creativity

ABSTRACT Given the increased need for collaboration to achieve greater speed and flexibility in responding to organizations’ environmental demands, there is growing interest in understanding the implications of collaborative work for employee creativity. This study examines how emotion work (i.e., regulating emotions in a social context) that helps to meet the interpersonal demands of collaboration relates to employee creativity. Conservation of resources theory is used to hypothesize a moderated mediation model where two emotion work strategies – surface acting and deep acting – are indirectly related to creativity through the mediating effect of affective commitment, with psychological safety as a moderator of this indirect relationship. Survey data collected from 546 employees in 42 workgroups in a high-tech manufacturing company in China were analyzed using hierarchical linear modeling and bootstrapping procedures. Results showed that surface acting and deep acting are, respectively, negatively and positively related to creativity through the mediating effect of affective commitment. Also, psychological safety strengthened the positive relationship between affective commitment and creativity, resulting in a moderated mediation effect whereby psychological safety moderates the indirect effect of surface acting and deep acting on creativity through affective commitment. The implications of these findings for emotion work and creativity research are discussed.

Company performance and optimal capital structure: evidence of transition economy (Russia)

PurposeThe paper analyzes the effects of the capital structure on company performance (return on assets). The analysis is conducted in a large sample of high-tech manufacturing and service companies in the transition economy (Russian Federation). In addition to the aggregated analysis, separate investigations are conducted to scrutinize the impact of company age, size and location factors (the effects of agglomerations). This research postulates the existence and variability of the optimal capital structure and its dependence on economic crisis.Design/methodology/approachWe utilized a large sample that includes 1,826 enterprises over the period from 2013 to 2017. The estimation was performed using the panel-corrected standard error estimation technique (Prais–Winsten regression) to account for the panel nature and distributional properties of our data. The existence of the optimal capital structure was assessed based on a curvilinear (quadratic) function.FindingsThe results are consistent with the Static Trade-off Theory and show that this theory is applicable to countries with transition economy. They demonstrate that effective management of the capital structure can increase return on assets by 16–22%. The optimal share of borrowed capital is higher for small businesses compared to larger ones and for enterprises located in agglomerations compared to those located in other regions. A greater increase in profitability can be achieved by larger firm companies compared to smaller ones. High share of borrowed capital leads to negative profitability, i.e. to losses by enterprises. No significant differences in profitability growth were identified between young and mature enterprises. The optimal share of borrowed capital that maximizes return on assets is in the range of 0–21%.Research limitations/implicationsDue to the SPARK policies, our access to the data has been limited to a five-year window, which imposed certain limitations on the choice of econometric methods we could have employed and somewhat limited our ability to contrast the effect of the crisis period with the period of stability. In this sense, although our results pertaining to the effect of the crisis could be treated as conservative, future research should consider extending the panel to include more years into consideration.Practical implicationsWe identified significant differences between optimal capital structures and actual capital structures for high-tech enterprises. The contribution of this study is that the calculations were made for a country with a transition economy under crisis conditions. Countries with transition economies and developing countries tend to be characterized by a high level of interest rates on loans and a high proportion of borrowed capital in total assets. This poses difficulties for companies relying on borrowed capital to finance their operations. At the same time, our results demonstrate that in transition economies, enterprises in high-tech industries do have an optimal capital structure that allows maximizing firm performance. That is, Static Trade-off Theory is applicable to transition economies characterized by high interest rates on loans.Originality/valueThe novelty of this study lies in the detailed analysis of high-tech industries in Russian Federation. This analysis makes use of sophisticated econometric techniques for the first time in this context.

Successful approaches for implementing additive manufacturing

PurposeThe purpose of this qualitative, multiple-case study was to explore the successful strategies that managers of light and high-tech small and medium-sized manufacturing companies in the Netherlands, use to adopt additive manufacturing (AM) technology into their business models.Design/methodology/approachA qualitative, multiple-case study approach was used. The participants for this study consisted of executive-level managers of light and high-tech manufacturing companies in the Netherlands. Company documents were studied, and individual interviews were undertaken with participants to gain an understanding of the strategies they used to adopt AM technology into their business models.FindingsThree significant themes emerged from the data analysis: identify business opportunities for AM technology, experiment with AM technology and embed AM technology.Research limitations/implicationsThe findings of this study could be of advantage to industry leaders and manufacturing managers who are contemplating to adopt AM in their business models.Originality/valueThis study may contribute to the further proliferation of AM technology. Industry leaders may also gain a clearer understanding of the effects of 3DP on local employment. The results of the study may also work as a catalyst for increased awareness for manufacturing firm leaders who have not yet considered the opportunities and threats AM technology presents to their organizations.

A novel comprehensive evaluation method for science and technology insurance under internet environment

Manufacturing industry plays an important role in the national economy. However, it is worth noting that scientific and technological innovation in manufacturing industry is accompanied by risks. One of the important ways to solve technological risks is science and technology insurance. In this paper, we first analyse the development status of science and technology insurance in China, and then establish an index evaluation system by using the analytic hierarchy process (AHP) and the fuzzy comprehensive evaluation method. The index evaluation system includes three layers and selects 24 indicators, which can help the insurance companies to scientifically and quantitatively evaluate high-tech manufacturing companies. It also can avoid subjective and difficult-to-quantify problems in the past evaluation process. Finally, an empirical study is showed to explain how to quantify these indicators and how to calculate the weight coefficient values for each indicator. Our findings can provide relevant countermeasures and suggestions for insurance companies, high-tech manufacturing companies, and governments.

The influence of abusive supervision on employees’ motivation and extra-role behaviors

Purpose The purpose of this paper is to attempt to unlock how and why abusive supervision influences employees’ day-to-day behaviors. Thus, the present study proposes that employees who are continuously faced with a supervisor’s hostile verbal and nonverbal behavior might obstruct their willingness to exhibit two different kinds of extra-role behaviors [i.e. organizational citizenship behavior (OCB) and voice] because sustained abusive behavior might hinder employees from their tasks and result in disengagement. Abused employees are more likely to disengage from their current tasks, and this is likely to in turn result in lower OCB and voice. Design/methodology/approach The data were collected from a Taiwan mid-sized high-tech manufacturing company. The present study adopted a within-person approach (a daily-basis research design) and collected data from 60 front-line employees over 10 working days. Although all variables were self-rated, common method variance is minor. Confirmatory factor analysis (CFA) was conducted to ensure discriminant and convergent validity, and hierarchical linear modeling (HLM) was used to test the hypotheses. Findings The results of CFA ensure the measures have discriminant and convergent validity, while the results of HLM analysis showed that work engagement fully mediates the negative relationship between abusive supervision and the two kinds of extra-role behaviors. The bootstrapping results also support the full mediation effect of work engagement. Originality/value The present study used the job demands-resources model to examine how abusive supervision influences employees’ OCB and voice and found that work engagement is one possible mechanism between these two types of extra-role behavior. Specifically, a daily research design discovered that in a given working day, once a leader exhibits abusive supervision behavior, compared with any given day without abusive behaviors, employees will find it difficult to focus on their current tasks (i.e. through exhibiting decreased work engagement), which will in turn influence their willingness to exhibit OCB and voice on that particular day. Thus, both researchers and managers should focus on the daily interactions between leaders and employees because it is impossible to achieve organization success in one day, but rather such success is the aggregate result of both leaders’ and employees’ daily efforts.

Internal barriers to innovation and university-industry cooperation among technology-based SMEs in Brazil

ABSTRACTThis paper investigates the association between internal barriers to innovation and the propensity of technology-based SMEs to cooperate with universities and research institutes (URIs). We examine empirically two types of internal company barriers – financial and knowledge obstacles to innovation. The data source is the latest edition of the Brazilian Innovation Survey (PINTEC). We analyse the full sample of technology-based SMEs as well as the subsamples of high-tech manufacturing companies and knowledge-intensive business services (KIBS). Financial obstacles are shown to be strongly related to the propensity of KIBS to collaborate with URIs. Knowledge obstacles are moderately related to the propensity of high-tech manufacturing SMEs to collaborate with URIs. We conclude that while URIs have other important roles in the techno-economic system, their perceived contribution to alleviating internal innovation barriers for technology-based SMEs may be less prominent than policy decision-makers in emerging economies may expect.

Supporting decision-making in service supplier selection using a hybrid fuzzy extended AHP approach

PurposeService supplier selection is a multi-criteria decision-making (MCDM) problem assuming a strategic role for the competitiveness of high-tech manufacturing companies. Nevertheless, especially for service quality evaluation, there is little empirical evidence of the practical usefulness of MCDM methodologies. Aiming to cover this gap between theoretical approaches and empirical applications, the purpose of this paper is to propose a fuzzy extended analytic hierarchy process (FEAHP) approach for service supplier evaluation.Design/methodology/approachA hybrid approach which combines some of the strengths of the analytic hierarchy process (AHP) and of the fuzzy set theory is presented, as organized into five steps. A case study is used to evaluate the applicability in a real company context.FindingsThe usability of the approach is demonstrated in an aerospace company for solving the supplier selection problem of a business software whose applications are still in infancy: a Test Data Management System (TDMS). The illustrative application contains both “general” criteria to be used for other service supplier selection contexts as well as service-specific criteria related to software selection.Research limitations/implicationsEven if the application regards the selection of a software supplier, the methodology can be generically extended to other services’ selection in complex manufacturing industries through the personalization of some criteria.Practical implicationsImplications can be derived both for business managers involved into the decision-making process and for suppliers identifying the most promising features of software quality.Originality/valueThe originality consists in the combination into a hybrid approach of the strong points of the AHP with the fuzzy set; the inclusion of multiple perspectives of decision criteria for service supplier selection, basically the “software product” and “supplier” ones; a real empirical application to test and demonstrate the efficacy and the practical utility of the proposed approach.

Reshoring: implementation issues and research opportunities

At the beginning of the 21<sup>st</sup> century, we continuously observe shifts in supply chains configurations caused by differentiate trends in turbulent environment. The remarkable number of companies restructure supply chains in search for competitiveness and innovation on global market. On the one hand, some labour-intensive industries are moving out of China to the next low-cost countries, on the other hand, some high-tech and innovative manufacturing companies are returning to the developed countries. The scientific purpose of the article is to set out the potential impact of reshoring on value creation in supply chains and to outline research opportunities in this field. Literature review and results of the questionnaire-survey on the Total Cost of Acquisition analysis are guidelines for considerations. Based on the analysis of reshoring drivers and benefits, it is clear that this strategy might have positive influence on the value creation in international and global supply chains management considering three dimensions of the value: economic, social and environmental from perspective of different stakeholders.