Private Enterprise Research Articles

Understanding and tackling meat reduction in different cultural contexts: a segmentation study of Swiss and Vietnamese consumers.

This study aims to disclose and compare meat consumer segments in Switzerland and Vietnam, which differ in terms of their socioeconomic and cultural settings (the former is a developed country, and the latter is an emerging one) to develop a set of segment-specific recommendations that might be applied to consumption in comparable contexts, that is, in other developed countries and other emerging economies. Data were collected through two online surveys: one for Swiss residents from randomly selected households and one for Vietnamese urban residents recruited via snowball sampling. The final sample size was N = 643 for Switzerland and N = 616 for Vietnam. Hierarchical cluster analyses followed by K-means cluster analyses revealed five distinct clusters in both countries. Three clusters were common to both countries: meat lovers (21% in Switzerland and 19% in Vietnam), proactive consumers (22% in Switzerland and 14% in Vietnam) and suggestible consumers (19% in Switzerland and 25% in Vietnam). Two were specific to each country, namely traditional (19%) and basic (21%) consumers in Switzerland and confident (16%) and anxious (26%) consumers in Vietnam. Relying on voluntary actions, nudging techniques, private initiatives and consumers' sense of responsibility will certainly be useful but will nevertheless be insufficient to achieve a planetary health diet within the given timeframe (the 2030 Agenda for Sustainable Development). Governments will have no choice but to activate all levers within their sphere of influence - including regulatory measures - and oblige private sector actors to commit to the measures imposed on them. A binding international agenda with common objectives and measures is a judicious approach. Unlike most previous studies, which focused on meat consumption intensity and frequency or diet type to segment consumers, our approach, based on psychographic profiles, allows the identification of segments that share common drivers and barriers and thus the development of better-targeted measures to reduce meat consumption.

The influence of digital platform on the implementation of corporate social responsibility: from the perspective of environmental science development to explore its potential role in public health.

This paper aims to explore the intersection of corporate social responsibility (CSR) and public health within the context of digital platforms. Specifically, the paper explores the impact of digital platforms on the sustainable development practices of enterprises, seeking to comprehend how these platforms influence the implementation of environmental protection policies, resource management, and social responsibility initiatives. To assess the impact of digital platforms on corporate environmental behavior, we conducted a questionnaire survey targeting employees in private enterprises. This survey aimed to evaluate the relationship between the adoption of digital platforms and the implementation of environmental protection policies and practices. Analysis of the survey responses revealed a significant positive correlation between the use of digital platforms and the environmental protection behavior of enterprises (), Moreover, the presence of innovative environmental protection technologies on these platforms was found to positively influence the enforcement of environmental policies, with a calculated impact ratio of (). An intermediary analysis highlighted that environmental innovation technology plays a mediating role in this process. Additionally, adjustment analysis showed that enterprises of various sizes and industries respond differently to digital platforms, indicating the need for tailored environmental policies. These findings underscore the pivotal role of digital platforms in enhancing CSR efforts and public health by fostering improved environmental practices among corporations. The mediating effect of environmental innovation technologies suggests that digital platforms not only facilitate direct environmental actions but also enhance the efficiency and effectiveness of such initiatives through technological advances. The variability in response by different enterprises points to the importance of customizable strategies in policy formulation. By offering empirical evidence of digital platforms' potential to advance CSR and public health through environmental initiatives, this paper contributes to the ongoing dialogue on sustainable development goals. It provides practical insights for enterprises and policy implications for governments striving to craft more effective environmental policies and strategies.

Large state-owned shareholders and cash holding: Evidence from family firms

This paper investigates the effect of large state-owned shareholders on cash holding in family firms. Using a large sample of Chinese listed family firms for 2012–2022, we find that large state-owned shareholders positively impact cash holding in family firms. The finding remains valid to a battery of sensitivity tests and is attenuated for family firms with higher control power of the controlling shareholder, family firms originating from the privatization of state-owned enterprises, and family firms located in regions with lower levels of institutional development. Economic mechanism tests show that large state-owned shareholders increase cash holding in family firms by reducing related-party transactions and perk consumption. These findings support the view that better corporate governance may increase corporate cash holding and suggest that state-owned ownership is an essential variable in the predictors of cash holding in family firms.

The impact of digital transformation on resource mismatch of Chinese listed companies

Based on a microeconomic entity perspective, this paper empirically examines the effect of enterprise digitalization on resource mismatch. We found that, firstly, an increasing in enterprise digitalization reduces resource mismatch. Moreover, the results remain robust after considering endogeneity and changing the variable measurements. Secondly, enterprise digitalization can significantly reduce resource mismatch of private and large-scale enterprises and significantly contribute to reducing enterprise resource mismatch in low marketability regions and eastern regions. Thirdly, enterprise digital transformation can reduce resource mismatch by decreasing operating costs and financing constraints; Executive incentives can help reduce resource mismatch in the digital process of enterprises. Fourthly, the increase in enterprise digitalization contributes to an enhance in corporate social responsibility, and enterprise resource mismatch plays a mediating role in the relationship of enterprise digitalization development improving corporate social responsibility. Finally, in response to the findings of the study, the paper suggests countermeasures for regional and corporate countermeasures regarding digital development.

From governance to stability: How party organizations in private enterprises influence stock price crash risk

This article delves into the data of A-share listed private companies from 2010 to 2022, utilizing a DID model to conduct a comprehensive study on how the establishment of party organizations affects the risk of stock price crashes. The research reveals that party organizations significantly mitigate the risk of stock price crashes in private enterprises, particularly in areas with higher marketization levels, among younger companies, and in companies with weaker internal governance. The introduction of party organizations bolsters internal oversight mechanisms, enhancing corporate governance quality and encouraging companies to embrace social responsibilities and ethical standards, thereby minimizing risk accumulation.

Gender and Anticommunism in Children’s Social Protection in Postwar Greece

The article analyses the welfare activities provided by the Greek royal foundations in the period from their establishment in 1947 until 1968, focusing on their interventions concerning children and youth and their evolution over time. Placing the royal foundations’ activities in the Cold War and post-Civil War context, it argues that the intertwined state, parastatal and private initiatives, among which they had a hegemonic role, constituted the idiosyncratic Greek welfare state of the period, whose workings can be better grasped through the perspective of the mixed economy of welfare. Based on archival research, it highlights the gendered character of this specific version of welfare state-cum-mixed economy of welfare, and show that it was highly conservative, patriarchal and normative, based on ideological, political, class and gender exclusions. It depended on gendered massive voluntary action, especially women’s voluntary or low-paid work and elite women’s empowering activities.

Supply chain concentration, industry concentration and enterprise innovation performance

This paper selects Chinese A-share-listed manufacturing enterprises as a sample from 2012–2022 to empirically analyse the relationship between supply chain concentration and corporate innovation performance. It is found that there is a significant negative correlation between supplier concentration and corporate innovation and a significant positive correlation between customer concentration and corporate innovation; industry concentration enhances the positive impact of customer concentration on corporate innovation performance; compared with state-owned enterprises, the relationship between supply chain concentration and corporate innovation performance is more significant in private enterprises.

The Italian Development Bank: A Dynamic View of CDP’s Public Mission

ABSTRACT The traditional public purpose of development banks is to promote economic development by mitigating market failures in the provision of finance to public and private initiatives. However, the dynamic theory of public banks suggests that development banks functions and actions are not predetermined, but rather depend on the dynamic economic, social and political context in which they are embedded. In this paper, we focus on the case of Cassa Depositi e Prestiti (CDP), and analyse how its mission expanded since its privatization in 2003, till and further its recognition as the Italian National Development Bank in 2015. We find that CDP range of action expanded rapidly under political, economic and institutional pressures (especially from European institutions), sometimes beyond what is traditionally expected of public banks. We also analyse how CDP corporate governance evolved, highlighting strengths and weaknesses with respect to other European Development banks.

The Crime of Invasion Electronic Data and Information in the Emeriti Law

This study examines the crime of unauthorized access to electronic data and information, focusing on the role of the UAE legislator in combating this crime through Federal Decree-Law No. 34 of 2021 on Combatting Rumors and Cybercrimes. It assesses the law’s effectiveness in addressing unauthorized activities such as the destruction or removal of information and data, and invasions of privacy. The paper concludes with recommendations to strengthen legal measures against such crimes. Key suggestions include defining “invasion” within the law to clarify the crime and its penalties, distinguishing between personal and professional email breaches with harsher penalties for the latter due to their significant impact on both state-owned and private enterprises, and recognizing the disruption of information networks as a punishable offense. These recommendations aim to enhance the UAE’s legal framework for protecting electronic data and information.

Does legislation promote technological innovation in renewable energy enterprises? Evidence from China

Compared to industrial policy, the rule of law can better stabilize expectations and ensure long-term benefits. Based on the legal text analysis and the accurate identification of renewable energy enterprises, this study conducts a quasi-natural experiment under the provisions of the Renewable Energy Law of the People's Republic of China, officially implemented in 2006, to empirically test the impact of energy legislation on renewable energy enterprises' technological innovation. Energy legislation can drive technological innovation, manifesting in a dual upgrade of both quantity and quality of innovation in renewable energy enterprises. The aforementioned law promotes technological innovation by implementing legal responsibility, increasing economic incentives, encouraging new enterprises to entry, and cultivating human capital, thus proving it rational and effective. Additionally, it significantly enhances the innovation of upstream equipment manufacturers, the eastern China and southern power grid regions, enterprises belonging to local governments at the county level and below, foreign-invested enterprises, and private enterprises. This study not only provides empirical evidence that energy legislation can ensure innovation-driven green development but also offers a Chinese solution for sustainable global development.

Environmental function of business: content and role in modern economy

The environmental aspect of business activities is considered in the vast majority of cases as an element of corporate social responsibility or as part of the social function of enterprises. Within the framework of this study, the goal was set to justify the feasibility of identifying the actual environmental function of business and to reveal its role and content. Such a step will allow, if necessary, to analyze it in isolation from the general social vector of development of private enterprises based on a separate concept. To achieve the goal, four tasks were consistently solved. Firstly, the essence and importance of the “green” transition within national economies is revealed. Secondly, evidence is provided of the priority of the process of greening business structures in comparison with other vectors of growth of the Russian “green” economy. Thirdly, the main provisions of the theory of environmentally oriented business are formulated on the basis of the concept of corporate social responsibility. Fourthly, the concept and components of the “green” function of business at the present stage are revealed.

The Impact of Consumer Environmental Preferences on the Green Technological Innovation of Chinese Listed Companies

Using the data of companies from heavily polluting industries listed on China’s A-share stock market from 2011 to 2022, this paper empirically investigates the impact of consumer environmental preference on green technological innovation. The results indicate that consumer environmental preference significantly promotes the green innovation of firms from heavily polluting industries. Moreover, consumer environmental preference imposes a higher influence on strategic green innovation than substantive green innovation. The mechanism tests suggest that consumer environmental preference encourages green technological innovation by strengthening the environmental protection concept and increasing R&D investment. Finally, we find that rising consumer environmental preference has a more prominent effect on the promotion of green innovation for enterprises in regions with higher levels of marketization and lower government environmental regulation, larger enterprises, and private enterprises.

INVESTOR ATTENTION AND ENTERPRISE FINANCIALIZATION FROM THE PERSPECTIVE OF INSTITUTIONAL INVESTOR CORPORATE SITE VISITS

This study investigates the impact of institutional investor site visits on enterprise financialization using Shenzhen Stock Exchange A-share listed companies’ data from 2013 to 2022. Findings reveal that such visits drive companies, especially those with high financing constraints, to reduce financial asset allocation. This reduction is facilitated through enhanced information disclosure and lowered financing costs. Notably, site visits effectively mitigate financialization in highly constrained private and high-tech enterprises. The study offers a theoretical guide for regulatory bodies, advocating for enterprises to prioritize core operations, minimize financial asset allocation and fortify financial services for the real economy.

Digital transformation's impact on innovation in private enterprises: Evidence from China

In the digital economy era, the pathways of digital transformation and intelligent development have emerged as crucial avenues for enterprises’ high-quality development. Focusing on listed private enterprises from 2011 to 2020, this study uses text mining to extract keywords related to digital transformation, as disclosed in annual reports. We construct a digital transformation index and empirically examine its impact on enterprise innovation and innovation incentive policies’ synergistic effects. The results demonstrate that digital transformation significantly promotes innovation in private enterprises, with a more pronounced catalytic effect in economically developed regions characterised by higher levels of the digital economy and larger enterprises. Simultaneously, innovation incentive policies play a crucial role in enhancing digital transformation's impact on innovation in private enterprises. Further investigation reveals that digital transformation's impact mechanism on private enterprise innovation is driven primarily by four paths—specifically improving information transparency, reducing operational risks, alleviating financing constraints, and enhancing total factor productivity. This study provides empirical evidence regarding innovation breakthroughs and driving paths for private enterprises to achieve high-quality development as well as valuable references and insights for policy formulation.

An empirical study on the abuse of market dominance by urban pipeline gas in 2020-2022

City pipeline gas has significant natural monopoly properties and regional characteristics. This paper sorted out the administrative law enforcement cases of abuse of market dominance in the field of urban pipeline gas in the three years from 2020 to 2022, and found that the acts of Article 17 (5) and (4) of the Anti-Monopoly Law accounted for the highest proportion, and the punishment was generally mild, and most of them were private enterprises. At the same time, the corresponding regulatory implications are studied and proposed, that is, strengthening the supervision of natural monopoly enterprises extending upstream and downstream links, introducing qualified enterprises in franchise operation, and making full use of information technology to improve regulatory capabilities and regulatory efficiency.

Making donations work in crisis management: A contingent governance transition in philanthropy in Wuhan's COVID‐19 response

AbstractIn response to public complaints about the chaotic management of donations during the emergency, the site of the first identified COVID‐19 case, Wuhan (in central China), underwent a contingent governance transition. And given the public complaints about the disorganized management of donations during the early stage of emergency management in Wuhan in January 2020, local governments initiated a minor governance transition in philanthropy, involving multiple stakeholders such as public and private charities, as well as private enterprises. In contrast to the abundance of literature on governance actors such as the state, the market, and societal actors, this review discusses the changes in governance mechanisms using publicly available data from governmental websites, policy documents, and news reports. It examines a minor governance change in local philanthropy from hierarchical bureaucratic governance to embryotic non‐monocentric governance and to expedient collaborative/interactive governance. Moreover, it highlights the yet‐to‐be institutionalized characteristics of the newly emerging governance models in China, a country where the traditional mode of hierarchical governance is dominant. This article not only adds to the body of evidence on governance failures caused by monocentric bureaucracy, but it also contributes to the literature on public governance transition in China's philanthropic sector and the state‐society relations more broadly.

THE ROMANIAN ORTHODOX CHURCH CHORAL CREATION OF CLASSICAL-ROMANTIC INFLUENCE

The liturgical singing of the Romanian Orthodox Church is monodic, of the Byzantine tradition. From the 19th century, under the influence of the Russian Orthodox Church, multiple voices choral singing penetrates the Romanian worship establishments. The beginnings were timid, isolated, from private initiatives and sometimes encountering the hostility of conservative ecclesiastical traditionalism. After 1959, the introduction of choral singing in the United Romanian Principalities was to be facilitated by state legislation. Choral singing would be used predominantly for the office of the Holy Liturgy. In finding a choral style suitable for the orthodox liturgical ceremonial, three main stylistic directions were outlined, among which the classical-romantic influence created a generous and varied repertoire.

HOW DOES STATE-OWNED EQUITY AFFECT GREEN TECHNOLOGY INNOVATION OF PRIVATE ENTERPRISES

Based on the data of 22368 private listed companies in the CSMAR database from 2010 to 2022, this paper empirically tests the impact of mixed ownership reform of private enterprises on green technology innovation and discusses the mechanisms of financing constraints. The research finds that the introduction of state-owned equity by private enterprises can help enterprises improve their green technology innovation level. Further research reveals that financing constraints significantly limit enterprises' green technology innovation, and the introduction of state-owned equity can enhance this innovation by alleviating financing constraints. The effect of mixed reform in less developed areas is more significant. This paper provides important empirical data for the mixed ownership reform of private enterprises and also provides ideas for the improvement of the green technology innovation level of private enterprises in developing countries.

Rural electrification efforts from the perspective of ASEAN Energy Awards

Access to reliable and affordable electricity remains a cornerstone of sustainable development and renewable energy in the ASEAN region. While all member states strive for universal electrification, progress varies significantly, influenced by diverse national landscapes and approaches. This research sheds light on rural electrification efforts through the lens of ASEAN Energy Awards, uncovering stakeholder roles, quantifying impacts, and promoting cross-learning among member states. Through analysis of project submissions and winners from 2010 to 2023 (N = 62), the study delves into three key areas. First, there has been a shift beyond traditional government-led initiatives. While state-owned enterprises, government agencies, and international development agencies remain active, the emergence of universities, private enterprises, non-profit organisations, and even communities themselves signals the growing importance of bottom-up approaches. The analysis delves into the prevalence of technologies like solar PV (photovoltaics) and micro-hydropower, revealing trends in installed capacity and cost-effectiveness (the dominance of projects below US$100,000). The study identifies consistent rural electrification efforts across countries like Indonesia, Malaysia, Myanmar, and Thailand, which recorded the most project submissions. Findings reveal a dynamic landscape of rural electrification efforts in ASEAN. The rising presence of non-state actors and community-driven initiatives presents opportunities for increased private sector contributions and bottom-up solutions.

Dynamic impact of mixed-ownership reform on enterprise innovation with different property rights

ABSTRACT We use the multi-period difference-in-differences combined with the propensity score matching method (PSM-DID) to examine the dynamic impact of mixed-ownership reform on state-owned enterprises (SOEs) and Private enterprises innovation. Our findings are as follows. Firstly, mixed-ownership reform consistently enhances the innovation level of SOEs and private enterprises, but this effect tends to decline in SOEs and increase in private enterprises, and it is found by comparison that the mixed-ownership reform benefits private enterprises’ innovation more than SOEs. Secondly, mixed-ownership reform raises SOEs and private enterprises’ innovation when equity incentives are low. However, as equity incentives increase, the reform decreases SOEs’ innovation while increasing private enterprises’ innovation. Thirdly, fiscal pressure weakens the positive impact of mixed-ownership reform on the innovation levels of both SOEs and private enterprises. The findings of this study can offer valuable insights for policymakers on increasing the innovation levels of businesses with different property rights through mixed ownership reform.