Private Enterprise Research Articles

Private economic support policies, enterprise financialization, and productivity

This study examined panel data of privately listed companies in China from 2012 to 2022 for empirical analysis. Results indicate that enterprise financialization and economic policies supporting private enterprises strengthen production efficiency. Economic support policies had a heterogeneous impact on production efficiency at different lifecycle stages of the enterprises in the study sample. Assuming that other conditions remain unchanged, private economic support can indirectly increase enterprises’ production efficiency by enhancing R&D investment, thereby exerting a mediating effect.

Extractivism triggering new forms of governance for the rights of nature: The case of Northwest Ecuador

The intensification of resource extractivism around the world poses multiple challenges and fosters the development of new governance structures, especially among communities on the frontlines of resource extraction. Through a narrative inquiry based on narrative interviews with local actors and experts, this article centres on governance as a resistance strategy of local, frontline, communities in the Ecuadorian Northwest Pichincha and Imbabura provinces. The narratives give insights into: a) How new processes of governance are triggered by mining conflict and, in particular, how governance is shaped and manifested; b) Governance challenges faced by local governments and communities; and c) Lessons and recommendations for governance and how these contribute to the discussion of post-extractivism alternatives. New governance processes are shaped through socio-organisational processes and the strengthening of associations and civil society organisations; the institutionalisation of private, civil society, and community conservation initiatives; as well as the actions of the organised community to successfully invoke the Rights of Nature (RoN) through legal litigation. Institutional gaps that reflect competing visions of development are seen as governance challenges by local government and community members. Overall, this study highlights the critical role of governance structures and instruments rooted in frontline community perspectives, offering pathways for the development of post-extractivism alternatives.

Can carbon market efficiency promote green technology innovation for Chinese companies?

The carbon trading scheme is a major institutional innovation for China to promote green and low-carbon economic development. This paper studies the relationship between the carbon market efficiency and enterprises' green technology innovations. First, we assess the efficiency of China's pilot carbon markets using the entropy-based TOPSIS model. Then, we adopt a continuous multi-period difference-in-differences model to explore the effects of carbon market efficiency on firms' green technological innovation. In addition, we analyze the heterogeneous effects of carbon market efficiency with regard to green patent types, industry types, and enterprise ownership. Finally, we examine how carbon market efficiency impacts firms' green innovation. We find that carbon market efficiency can increase enterprises' green patent applications, but the effect is limited. Carbon market efficiency has no discernible impact on green invention patents; it can only enhance green utility model patents. This phenomenon is more prominent in low-energy-consuming industries and private enterprises. We document that carbon market efficiency can enhance enterprises' R&D intensity and policy subsidies, thereby boosting green technology innovation. Our findings have important implications for improving the carbon market efficiency and firms' green technology innovation.

Organizational Action Style Focused on the Performance of the Quintana Roo Employee Based on the Work Behavior Clinic

This work is a report of the research on clinical work performance developed from October 2022 to August 2023, in three Quintana Roo organizations, one of private initiative, another of a parastatal nature and the third was a public institution. It is based on the problem that represents the low level of results, despite the strategies of administrative enrichment implemented, where a good amount of financial resources are invested, and that according to managers it is largely the human factor that determines that the results do not occur as expected. The objective was to identify the style of action of the employees during their working hours. The models of Organizational Development, Management by Objectives, Strategic Planning and Total Warmth were analyzed to identify their essence; finding important invariants in them, for their implementation. Epistemology was interpretive with an ethnographic paradigm. As a result, four particular prototypes of value attitudes were identified, corresponding to four particular types of people, which were called by the authors of the study as: Type I. Circumstantial worker; Type II. Tormented worker; Type III. Resentful worker; Type IV. Passionate worker; distributed equally within the three organizations investigated. Concluding that value attitudes have greater influence the higher the level of authority that a person has within the administrative structure, recommending that, in order to make real changes within organizations, it is necessary to start from the eradication of institutional vices.

Local CEOs and environmentally-friendly enterprise behaviour

Using the Poisson regression method, this research analyses the impact of local CEOs on the environmentally friendly behaviours of enterprises and delves into the mechanisms, which have received limited attention in the literature. The findings reveal that local CEOs can significantly encourage enterprises to engage in environmentally friendly behaviours, and this influence is mediated primarily through internal motivation and external sanctions. Additionally, the research revealed that the promotion effect of local CEOs on the environmentally friendly behaviours of enterprises is more pronounced in regions with favourable natural endowments and in private enterprises. Even under the pressure of tenure, local CEOs continue to significantly stimulate the implementation of environmentally friendly practices and complement the formal institutional framework through their informal institutional role.

Can Chinese‐style trade unions promote corporate philanthropy? A stakeholder theory perspective

AbstractCorporate philanthropy is an important form of fulfilling social responsibility and improving social income distribution systems. Unlike Western trade unions, Chinese trade unions have government‐like functions. This study discusses whether Chinese‐style trade unions help promote corporate philanthropy. Based on stakeholder theory, this study examines the philanthropic effects of Chinese‐style trade unions using data from the Chinese Private Enterprises Survey and employs methods such as the Treatment Effect Model, Instrumental Variables Method, and Propensity Score Matching. The results show that unions with government‐like functions can significantly incentivize firms to engage in philanthropic activities and that this effect encourages start‐ups and well‐funded firms, which enriches and expands the research on the functions of unions. Trade unions can help enterprises gain political connections and promote a sense of corporate social responsibility, thus enhance corporate philanthropy. In addition, female leaders are more likely than male leaders to promote the positive impact of unions on corporate philanthropy. This study not only expands the literature on union functions and the antecedents of corporate philanthropy, but also enriches the discussion on the synergies among multiple stakeholders in stakeholder theory and the role of gender in the field of management.

International experience of partnership of private companies and special services in the interests of national security and its significance for Ukraine

The article is devoted to topical issues of national security. Its purpose is to justify the need to review approaches to the partnership of special services of Ukraine and private companies. The current state of threats to national security from the aggressor country is characterized within the scope of scientific research. Attention was drawn to the fact that after the attack of the Russian Federation on Ukraine, there were changes in the security paradigm and approaches to national security and the world system as a whole, and the need, in this connection, to find additional resources to counter the Russian Federation, to develop new effective models of organizing the activities of national special services by involving the potential and resources of non-state institutions in this activity. It was established that the effective partnership of special services and private enterprises in the interests of national security is a stable international practice, and in some cases, the only means of increasing the effectiveness of special services in conditions of shortage of personnel and resources, which meets the requirements of international and national legislation. The international experience of such a partnership is characterized using the examples of the “Griffin”, “ECSA – CERBERUS”, “ProtectUK” projects, as well as the activities of private intelligence and security companies. Prospective directions for strengthening the capabilities of Ukraine’s special services through partnership with private enterprises and their security structures are highlighted, including: creation of security platforms (educational and informational and communicative in nature); obtaining operationally significant information in the interests of ensuring state security both in the country and abroad, including its processing; assistance in the use of existing and development of new software products for the search and identification of persons who pose a threat to the state security of Ukraine, the recording of their criminal activities, etc.; carrying out analytical studies, summarizing a large array of data in the interests of national security; personnel training for work in modern conditions, including using the latest technologies. The need for clear legal regulation of the rights and obligations of the parties to such a partnership is emphasized.

Could ambidextrous learning improve employees' disruptive innovation behavior? A double-mediation model

This study investigated the influence mechanism of ambidextrous learning on disruptive innovation behavior and the mediating effects of error management climate and creative self-efficacy. I conducted both online and offline surveys with 452 employees in private enterprises, state-owned enterprises, and institutions. The results indicate that ambidextrous learning predicts employees' disruptive innovation behavior, and both error management climate and creative self-efficacy have significant partial mediating effects on the relationship between ambidextrous learning and disruptive innovation behavior. This study contributes to ambidextrous learning and disruptive innovation behavior research and advances scholarship into aspects of employees' disruptive innovation behavior in enterprises.

Judiciary-driven finance: Quasi-experimental evidence from specialized financial adjudication institutions in China

The "law and finance" paradigm posits that legal institutions play a crucial role in financial development; however, China has long been considered an exception. This study challenges that assumption by examining how improvements in the judiciary affect financial development in China. Using a quasi-natural experiment (i.e., staggered difference-in-difference estimation) over a twenty-year period, we find that the establishment of specialized financial adjudication institutions (i.e., financial courts and tribunals) in certain prefecture-level cities significantly reduces financing constraints for local listed companies. Further heterogeneity tests show that these effects are more pronounced among private enterprises, small and medium-sized enterprises, and companies in the central and western regions. Through the analysis of representative practices and interviews with relevant judges and enterprises, we find that China's financial judiciary demonstrates efficiency and proactiveness. Additionally, political considerations enable courts to regulate finance and maintain stability, improving the local financial legal environments and reducing transaction costs for market participants. By investigating the causal relationship between judicial reforms and financial development, our findings provide new insights into the "law and finance" theory and offer policy implications for addressing financial development gaps and promoting financial inclusion in emerging markets.

The Impact of Environmental Protection Investment and Equity Balance Degree on Economic Performance and Eco-Autonomy: An Empirical Study of China’s A-Share Listed Companies

Enterprises are not only the main source of energy consumption and pollution emissions but also a key force in environmental governance. There is no doubt that the positive impact of enterprise environmental protection investment (EPI) on other stakeholders, but the impact on its own economic performance is the key to determining the scale of EPI and increasing the motivation for Eco-autonomy. This paper selects 691 companies listed on China’s A-share market from 2012 to 2022 as research samples, introducing the equity balance degree as the moderator variable, and empirically investigating the impact of the relationship by using a panel multivariate regression model. The results show that the relationship between EPI and its economic performance is a U-shaped curve, and it is related to Eco-autonomy. The equity balance degree can mitigate the negative influence of the relationship, but it is significantly different between state-owned enterprises and private enterprises. Accordingly, it prompts the following policy implementation: the Chinese government should develop differentiated environmental incentives and regulatory policies. It should focus on private enterprises with high-equity balance degrees and high pollution levels, and it should encourage state-owned enterprises to increase the scale of ex ante preventive investment through policy incentives.

The path of digital transformation driving enterprise growth: The moderating role of financing constraints

This study utilizes data from A-share listed companies of China between 2010 and 2021 to investigate the impact of digital transformation on corporate growth performance using a two-way fixed-effects model. We find that digital transformation has significantly promoted corporate growth performance, which remains robust across a series of tests. Mechanism analysis indicates that overall financing constraints and debt financing have significant moderating effects on the relationship between digital transformation and growth performance, whereas equity financing has similar effects only after PSM matching. Heterogeneity analysis shows that the promotion effect of digital transformation on growth performance is more pronounced in private enterprises, regions with superior business environments, and non-high-tech industries. Furthermore, both debt financing and equity financing were found to have a threshold effect on the growth performance promotion of enterprise digital transformation. Based on these, it is proposed that the configuration of enterprise capital scale and financing path should be considered when pursuing the positive effects of enterprise digital transformation.

Research on the Impact of Digital Technology and Servitization on the Performance of Manufacturing Enterprises

This article mainly discusses the impact of digital technology and service-oriented on the performance of manufacturing enterprises. It first elaborates on the background of the trend of service-oriented manufacturing and the significance of its enterprises. Then, based on the impact of digital technology on the performance of manufacturing enterprises, several practical and feasible measures are proposed, mainly focusing on the long-term layout of service-oriented, shortening the low period, enhancing the competitive awareness of state-owned manufacturing enterprises, improving the driving force transformation, achieving simultaneous progress digitally, configuring digital and service-oriented elements, and eliminating the monopoly of digital resources. Followed by lowering the threshold for private enterprise resource acquisition, promoting financial digital development, breaking the financial dilemma of service-oriented manufacturing, continuously improving the performance level of manufacturing enterprises, and promoting the development of manufacturing enterprises.

Private Enterprise and the China Trade: Merchants and Markets in Europe, 1700–1750 by Meike von Brescius (review)

Private Enterprise and the China Trade: Merchants and Markets in Europe, 1700–1750 by Meike von Brescius (review)

The Antecedents Affecting the Job Performance of Private Enterprises

The Antecedents Affecting the Job Performance of Private Enterprises

Research on the IPO Listing Risks of Chinese Family-Owned Private Enterprises Based on a Rejection Case

With the continuous improvement of the capital market and the trend of national economic development, China's IPO system has also changed in response to the country's circumstances and financial situation. Thanks to Chinese economic reform, more and more private companies want to IPO listing. In addition, most of these companies are family-owned private enterprises, which are the main group of IPO applicants due to their seniority and size. However, this type of enterprise started early, it still have many old and inadequate systems, as well as irregularities in disclosure and trading. These shortcomings will become the main risk of IPO failure. Shenghuabo Electric Co., Ltd. is a typical family-owned private enterprise, thus it will be used as an example for this paper. In addition, this article mainly analyses the reasons related to the enterprise's IPO being rejected, and gives corresponding solutions. The purpose of it is to provide assistance to family-owned private companies for future IPO listings.

Social credit system construction and entrepreneurial activity: A quasi-natural experiment from China

This study investigates the impact of the improved social credit environment on entrepreneurial activity. We conduct the time-varying difference-in-differences model based on the quasi-natural experiment of constructing China’s Social Credit System (SCS) and find that the implementation of this institution significantly improves entrepreneurial activity, which remains robust to a series of tests. Mechanism tests reveal that the SCS influences entrepreneurial activity through material, human, and social capital agglomeration effects, as well as by alleviating information asymmetry. Heterogeneity analysis demonstrates that the positive impact of SCS is more obvious in promoting entrepreneurial activity within private enterprises, high-tech, and manufacturing industries. Furthermore, this entrepreneurial effect is more pronounced in cities with lower administrative levels and on the southeast side of the Hu Huanyong Line.

Pathways for Integrating Wenzhou's Private Economy and Higher Vocational Education in the Context of High-Quality Development

This study examines ways of convergence between the private economy and Wenzhou higher vocational education in the context of quality development. This paper presents an overall analysis of the current situation of the integration of private enterprises and vocational schools, identifies the main challenges and proposes strategies for strengthening cooperation between private enterprises and vocational schools. Although significant progress has been made in both areas, integration has not yet reached its full potential. The study calls for stronger partnerships, greater involvement of industry in curriculum design and policy measures to better integrate vocational education with the economic needs of the region.

HUMAN RESOURCES AND REGIONAL INTEGRATION

This paper being an empirical work assessed Human Resources and Regional Integration especially as it relates to Nigeria and other regional bodies like the Africa Union (AU), the International Labour Organisation (ILO), Organisation of Petroleum Exporting Countries (OPEC). Three research questions were designed for the study expecting responses from participants. The study used survey research design as this design type helps to gather, organize and analyze data obtained from a pool of respondents and generalise its outcome on the larger population. The population for this study comprises all human resource personnel in both private and public enterprises from Edo, Anambra and Lagos states respectively. The choice of these states is based on the premise that they are one of the economically strategically located states that have a functional HR structure in Nigeria. A multi-stage sampling technique was used to select a sample of 180 human resources personnel from both private and public establishments across the three identified states above. From each of the states, 60 respondents were captured from establishments like tertiary institutions, secondary schools, banks and companies respectively. The researcher adopted a researcher-structured instrument titled “Human Resources and Regional Integration Questionnaire (HRARIQ)” to collect data. The structured Questionnaire has 20 close-ended items on a 4-Point Likert Scale of Strongly Agee (SA), Agree (A), Disagree (D) and Strongly Disagree (SD) respectively. The Questionnaire was validated as construct validity was assured and sub-scale index r=0.835, 0.841 and 0.816 for the instrument was derived. With Cronbach Alpha, a reliability from an index value of 0.893 was obtained which shows internal consistency. Through mean and simple percentage, a descriptive statistics type, the sourced data was analysed. The study revealed that human resources management has an established influence on regional integration. It then concluded that the Presence of functional and operational labour laws would likely promote the integration of member states of which Nigeria is a key member.

The Extent to which Conflict of Interest in the Public Sector Affects Private Sector Functioning

This analysis explores the profound implications of conflict of interest in the public sector on private companies, highlighting the intricate relationship between governmental decisions and market outcomes. Public-sector conflicts of interest can distort regulatory frameworks, disrupt market competition, and compromise ethical standards, leading to significant challenges for private enterprises, including financial instability and reduced investor confidence. The study underscores the importance of transparent governance and ethical integrity in maintaining a fair and competitive economic environment. It concludes that addressing conflicts of interest in public administration is not only a matter of ethical compliance but a critical necessity for ensuring equitable business practices and sustaining long- term economic growth. By fostering a regulatory environment centered on transparency, accountability, and ethical governance, we can mitigate the detrimental effects of conflicts of interest, thereby promoting a healthier and more trustworthy landscape for private sector operations.

Financial structure, development of small and medium banks, enterprise exports

The development of small and medium-sized banks has a profound impact on enterprise export trade. This study Based on a sample of 645 listed enterprises in China, to study the relationship between small and medium-sized banks and the export level of enterprises. Against the backdrop of the continuous development and growth of small and medium-sized banks, new ideas have been provided for seeking ways for Chinese enterprises to expand financing channels and improve export levels. The research results indicate that the development of small and medium-sized banks has significantly improved the export tendency and scale of enterprises. The heterogeneity test results show that the export expansion effect of the development of small and medium-sized banks is more significant for private enterprises, eastern enterprises, non-agricultural enterprises, and enterprises with high dependence on external financing. Based on these empirical research results and the actual situation in China, this article proposes policy recommendations such as building a long-term mechanism for the development of small and medium-sized banks, expanding their financial service coverage, and enhancing their financial service capabilities.