Table of Content

28 September 2025, Volume 34 Issue 5 Previous Issue   

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Reselling or Agency Selling? Manufacturer’s Market Encroachment Strategy under Data-Driven Marketing DUAN Renji, GUAN Zhenzhong, REN Jianbiao 2025, 34 (5):  1193-1211.  doi: 10.3969/j.issn.2097-4558.2025.05.001 Abstract ( )   PDF (11304KB) ( )   PDF（mobile） (785KB) ( 8 )   The booming development of internet technology has pushed e-commerce platforms to begin implementing marketing activities based on big data analysis, which expands the potential market demand and attracts entrant manufacturer to encroach online market through the platform. This paper constructs a game-theoretical model for a supply chain consisting of an incumbent manufacturer, an entrant manufacturer, and a platform when the platform adopts the data-driven marketing activity, specifically considering three models according to choices of the entrant manufacturer: no encroachment, reselling encroachment, and agency selling encroachment. It explores the optimal encroachment strategy from the perspectives of entrant manufacturer and platform by analyzing the equilibrium solutions. The results show that both reselling encroachment and agency selling encroachment may be the optimal strategy. When data-driven marketing cost is high, as commission rate increases, the optimal encroachment strategy will change alternately along the path of “reselling→agency selling→reselling”, which always damages the platform’s profit but increases the entrant manufacturer’s profit. Counter-intuitively, under agency selling encroachment, the entrant manufacturer’s profit positively correlates with the commission rate when the data-driven marketing cost is low. Under certain conditions, entrant manufacturer reselling (agency selling) encroachment can increase incumbent manufacturer’s profit and realize Pareto improvement, which is in contrast to the findings of previous studies. Finally. it conducts three extended studies and verifies the robustness of the main results regarding the optimal encroachment strategy. Related Articles

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Green Credit Financing Model Analysis with Access Criteria in Supply Chain: Floating Interest Rate Versus Fixed Interest Rate 2025, 34 (5):  1212-1228.  doi: 10.3969/j.issn.2097-4558.2025.05.002 Abstract ( )   PDF (3425KB) ( )   PDF（mobile） (699KB) ( 2 )   With the advocacy of green development by the government, many enterprises try to achieve green transformation by investing in green technology, but they often face financial constraints. Therefore, banks introduce different green credit financing modes to help enterprises to finance. First, this paper analyzes the green credit financing model with the fixed interest rate for the manufacturer considering corporate social responsibility as the benchmark model. It is found that both green credit and corporate social responsibility can enhance the green level of the product, while they play a mutually reinforcing role. Therefore, in implementing the green credit policy, the government can encourage enterprises to fulfill corporate social responsibility, thereby realizing better environmental benefits. Then, this paper develops a green credit financing model with the floating interest rate related to the green level. It is found that when the cost coefficient of green research and development (R&D) is larger (small), manufacturers will choose the fixed (floating) interest financing mode. When the cost coefficient of green R&D is larger (small), the floating rate has a negative (positive) effect on the green level of the product. Green access criteria can eliminate the negative effect of floating interest rates on the green level of the product when the cost coefficient of green R&D is large. Therefore, when banks implement the floating rate financing model, they should set appropriate access criteria to enhance the effectiveness of the floating rate model. Finally, the financing model of joint decision-making on the green level for banks and manufacturers is analyzed. It is found that the mode of joint decision would increase the green level of the product and the utility of the whole system while reducing the utility of the manufacturer. Related Articles

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E-Commerce Platform Choice of Encroachment Strategies Based on Product Quality Difference Between Manufacturer Brand and Private Brand FENG Zhongwei, LI Fangning, TAN Chunqiao, YANG Yuzhong 2025, 34 (5):  1229-1241.  doi: 10.3969/j.issn.2097-4558.2025.05.003 Abstract ( )   PDF (1534KB) ( )   PDF（mobile） (703KB) ( 4 )   The supply chain composed of a manufacturer and an e-commerce platform is considered under situations whether the e-commerce platform introduces private brand. Considering three encroachment strategies of e-commerce platform: no encroachment, low-quality private brand encroachment, and high-quality private brand encroachment, the impact of the product quality of manufacturer brand on the choice of e-commerce platform encroachment strategies is analyzed. The findings show that when the product quality of manufacturer brand is high, low-quality private brand encroachment strategy is not always beneficial to e-commerce platform; in contrast, e-commerce platform benefits from the high-quality private brand encroachment strategy if the product category size is large. Under certain conditions, the high-quality private brand encroachment strategy for e-commerce platform can improve channel profits, consumer welfare, as well as social welfare. When the product quality of manufacturer brand is an endogenous variable, e-commerce platform tends to introduce high-quality private brand, while manufacturer provides consumers with low-quality manufacturer’s brand products. Related Articles

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Introduction Strategy of Ship-from-Store for E-Commerce Platforms PU Xujin, REN Yu, JIN Delong 2025, 34 (5):  1242-1255.  doi: 10.3969/j.issn.2097-4558.2025.05.004 Abstract ( )   PDF (2001KB) ( )   PDF（mobile） (698KB) ( 3 )   New retail can bring value to both e-commerce platforms and community retailers by utilizing online-offline synergies through omni-channel integration. This paper compares the optimal prices and profit of decision makers in the supply chain composed of e-commerce platforms and community retailers without the introduction of the ship-from-store (SFS) channel and with the introduction of the SFS channel, and discusses whether e-commerce platforms should introduce the SFS channel. The findings indicate that as the draw rate of the e-commerce platform increases, the e-commerce platform prefers to introduce the SFS channel; and as the cost of consumer patience increases, the e-commerce platform prefers to open the online channel only. When the number of community retailers increases or the proportion of consumers with low patience cost coefficients increases, the likelihood that e-commerce platforms and community retailers jointly prefer to introduce the SFS channel increases. When the e-commerce platform determines the sales price of the SFS channel or the operating cost of the community retailer is large, the community retailer prefers to open only offline channels, while the e-commerce platform prefers to introduce the SFS channel. Related Articles

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Decision-Making in Dual-Channel Closed-Loop Supply Chains Considering Secondary Market Introduced by E-Commerce Platforms QING Qiankai, WU Wenhu, SHAO Yuan, LI Jiankun 2025, 34 (5):  1256-1267.  doi: 10.3969/j.issn.2097-4558.2025.05.005 Abstract ( )   PDF (1017KB) ( )   PDF（mobile） (708KB) ( 9 )   This paper considers a dual-channel closed-loop supply chain consisting of one manufacturer and one e-commerce platform, in which the platform acts as the manufacturer’s recycling channel or introduces a secondary market through refurbishing the used product. The firm’s optimal pricing and recycling decisions under different contract forms (wholesale-price contract versus revenue-sharing contract) are analyzed in both cases in which the platform does not introduce or introduces the secondary market by applying the game-theoretical approach. It is found that when the substitution degree between different sales channels is high, the manufacturer may prefer the revenue-sharing contract if the commission rate charged by the platform is higher, but may prefer the wholesale-price contract if it is lower. The introduction of a secondary market by e-commerce platforms will incentivize manufacturers to increase their recycling prices of the used product, while potentially leading to either an increase or decrease in the volume of recycled product. Additionally, while the introduction of a secondary market may reduce the manufacturer’s profit, its impact on the profit of e-commerce platform remains context-dependent (either positive or negative). Investigating the firms’ optimal decision-making in a dual-channel closed-loop supply chain and the impact of the e-commerce platform’s introduction of secondary market provides a valuable complement to existing research on closed-loop supply chain and secondary market. Related Articles

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A Mechanism of Financial Subsidy to Promote Cascade Utilization of Power Batteries in the Context of Patent Licensing and Carbon Cap-and-Trade WANG Xuanxuan, LU Chao, WANG Qianqian 2025, 34 (5):  1268-1280.  doi: 10.3969/j.issn.2097-4558.2025.05.006 Abstract ( )   PDF (8778KB) ( )   PDF（mobile） (309KB) ( 0 )   Utilizing financial subsidies to boost power battery recycling and utilization has been piloted by certain local governments, and there is a significant possibility of nationwide expansion following further improvements and optimizations. Currently, patent licensing and carbon cap-and-trade have a significant impact on the cascade utilization of power batteries. To design a more scientific subsidy mechanism for the cascade utilization of power batteries, this paper, combining patent licensing with carbon cap-and-trade, develops a Stackelberg game model that promotes the cascade utilization of power batteries through fiscal subsidies. It analyzes the optimal subsidy strategy and the influence of various factors on decision-making regarding the cascade utilization of power batteries. The research findings indicate that government subsidies promote the cascade utilization of power batteries. However, the optimal subsidy strategy depends on factors such as consumer sensitivity to power battery recycling price, the proportion of low-energy-density used power batteries, and consumer sensitivity to the retail price of remanufactured power batteries. Increasing the proportion of low-energy-density used power batteries has a positive impact on both the price and demand for remanufactured power batteries. Increasing the patent license fee and carbon trading price have a negative impact on the cascade utilization of power batteries. Related Articles

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Max-NPV Multi-Project Scheduling Optimization with Non-Shared Resource Constraints HE Hua, CAO Fangfang, HE Zhengwen, WANG Nengmin 2025, 34 (5):  1281-1294.  doi: 10.3969/j.issn.2097-4558.2025.05.007 Abstract ( )   PDF (1347KB) ( )   PDF（mobile） (325KB) ( 0 )   Taking the maximization of the net present value (NPV) as the objective, this paper investigates the multi-project scheduling problems with non-shared resource constraints. In the problem, the contractor has to allocate resources to individual projects and then under the constraint of the allocated resources, the schedule of each project is arranged independently to maximize its NPV. First, the practical and theoretical backgrounds of the multi-project scheduling problem with non-shared resource constraints are introduced, the research problem is defined, and its research significance is demonstrated. Then, based on the notation definition, the multi-project scheduling optimization model consisting of upper and lower sub-models is developed, and the three basic properties of the problem are proposed. Afterwards, in light of the characteristics of the studied problem, a two-module nested variable neighborhood search heuristic algorithm is designed, where the proposed properties are integrated to enhance the searching efficiency of the algorithm. Finally, in randomly generated standard instances, a large-scale computational experiment is conducted to evaluate the performance of the designed algorithm and analyze the effects of key parameters on the objective function. The findings demonstrate that among the four algorithms compared in the experiment, the variable neighborhood algorithm designed in this paper is the most promising algorithm for the studied problem. The NPV of projects ascends with the increase in the milestone activity number, advanced payment proportion, middle payment proportion, and project deadline while descends with the increase in the cash flow discount rate and resource factor. Related Articles

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Vehicle Scheduling Problem of Instant Delivery Considering Customer Order Cancellations WANG Zheng, XUE Guiqin, WANG Yixue 2025, 34 (5):  1295-1304.  doi: 10.3969/j.issn.2097-4558.2025.05.008 Abstract ( )   PDF (3084KB) ( )   PDF（mobile） (293KB) ( 5 )   In instant delivery, the uncertain order cancellation behavior is a critical factor that disrupts vehicle scheduling. Different customers may have different order cancellation patterns, and delivery vehicles need to perform multiple trips to process batch orders, which can be formulated as a multi-trip vehicle routing problem. To address this issue, a mathematical programming model is developed with the objective of maximizing expected profit, utilizing probability distribution to measure different order cancellations. An adaptive large neighborhood search algorithm is designed based on problem characteristics to solve the model. Finally, algorithm performance testing and sensitivity analysis are conducted using adapted instances constructed from the Solomon benchmark case set and real-case data from a large chain restaurant in Dalian, China. The results indicate that profitability is higher when customer order cancellations follow a sinusoidal distribution compared to linear and discrete distributions. Related Articles

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Joint Air-Ground Route Planning of Searching and Rescue During Flood Disaster LÜ Ying, LI Yue, SUN Huijun 2025, 34 (5):  1305-1315.  doi: 10.3969/j.issn.2097-4558.2025.05.009 Abstract ( )   PDF (10181KB) ( )   PDF（mobile） (313KB) ( 0 )   To address the difficulties in obtaining information about environment and road network in the rescue area in flood disaster, unmanned aerial vehicles (UAVs) are applied to the post-disaster survey work, and a research framework for the path planning system of air-ground joint is proposed for the whole rescue process, involving three stages: UAVs searching, image processing, and disaster rescue. The path planning problem of UAVs is abstracted into a complete coverage path planning model, and the region segmentation-path planning algorithm considering energy consumption is used to solve the problem. Then, through the image processing module, the information of road network and personnel location in the disaster area is extracted. The rescue path problem in disaster area is set up as a capacitated vehicle route planning model and solved by particle swarm optimization. The example shows that the planning algorithm of UAVs can reduce the energy consumption by 14.9%, and the average utilization rate of rescue tools obtained by the path planning algorithm reaches 92.5%. Finally, the effects of different capacities of rescue tools on rescue time and cost are quantitatively analyzed, and suggestions on the use of rescue tools are given in different rescue scenarios. Related Articles

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Two-Stage Economic Operation Model Based on Shared Energy Storage Offered by Service Providers ZHANG Panhong, CHEN Kaiwen, WANG Qingyi, XIE Yong 2025, 34 (5):  1316-1326.  doi: 10.3969/j.issn.2097-4558.2025.05.010 Abstract ( )   PDF (5072KB) ( )   PDF（mobile） (300KB) ( 1 )   With the massive development of distributed renewable resources, photovoltaic (PV) prosumer groups have emerged. However, the inherent characteristics of PV power generation can affect the safe and stable operation of the distribution grid. Research has been conducted to mitigate the impact mainly through pricing to promote in-situ sharing and configuration of energy storage systems, neglecting the pricing of transactions within the PV prosumers group. Therefore, this paper proposes a two-stage economic operation model for PV prosumers based on shared energy storage offered by service providers. In the first stage, the seller and the buyer of electricity are divided according to the load shortages of PV producers and consumers in different time periods, and the internal tariff is determined based on the supply-demand ratio and optimized considering the economic benefits and comfort requirements of PV producers and consumers. In the second stage, an economic model of the service providers investment in shared energy storage is proposed. A case study is conducted on a PV prosumer park in Hubei. The results show that the PV prosumers group can effectively reduce the electricity cost, and the service provider can obtain higher revenue by adding shared energy storage systems. Related Articles

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Application Research of AI-Assisted Detection Based on Queuing Theory in Medical Detection ZHAN Wentao, YUAN Xuchuan, BAI Xue, ZHENG Siyi LI Weifeng, JIANG Minghui, LIU Jida 2025, 34 (5):  1327-1341.  doi: 10.3969/j.issn.2097-4558.2025.05.011 Abstract ( )   PDF (1305KB) ( )   PDF（mobile） (603KB) ( 0 )   With the rapid development of artificial intelligence (AI) technology, AI-assisted detection has shown great potential in the medical field. Medical testing focuses on patient queue congestion, as well as the efficiency and accuracy of detection. Therefore, this paper develops a medical detection model under AI-assisted detection based on the queuing theory, considering the heterogeneity between traditional doctors and AI specialist doctors. Traditional doctors use conventional methods for detection, while AI specialist doctors conduct detection based on information from AI-assisted detection. The findings indicate that AI-assisted detection does not necessarily improve the detection capacity of the medical system. It only enhances the overall detection capacity when the throughput of the detection systems of traditional doctors and AI specialist doctors does not differ significantly. Furthermore, the heterogeneity of patients can lead to a decrease in system throughput, hindering the application of AI-assisted detection. Additionally, when AI-assisted detection can improve system throughput, public hospitals are more inclined to adopt AI-assisted detection compared to private hospitals, and vice versa. This paper provides substantial theoretical support for strategies and management decisions in using AI in medical testing, and offers valuable guidance for the optimization of future medical testing. Related Articles

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Public Opinion Network Structure and Rumor Management in Emergencies Based on Social Media User Data WANG Xihui, LIN Jiawen, WANG Xiang 2025, 34 (5):  1342-1354.  doi: 10.3969/j.issn.2097-4558.2025.05.012 Abstract ( )   PDF (11851KB) ( )   PDF（mobile） (313KB) ( 2 )   Social media attracts various users and becomes the core medium for the dissemination of public opinion during emergency events, yet it also tends to be a breeding ground for rumors, posing challenges to emergency management. This paper, utilizing the social network analysis (SNA) methods on data from social media users concerning the “6.2 magnitude earthquake in Jishishan, Gansu” and the “subway accident in Changping Line, Beijing” reveals the structural characteristics of public opinion networks in these two types of emergency events and identifies key users influencing information dissemination. Further, it expands the SHIR model to assess the effectiveness of official clarification mechanisms and platform regulation in different network settings for rumor management. The findings show that in the network in Gansu, user interactions focus on the transmission of information related to disaster safety and supplies while in the network in Beijing, interactions revolve around discussions of the causes and responsibilities of the accident. Both events exhibit potential hotspots for rumors. Simulations show that official clarifications and platform regulations can reduce the negative impacts of rumors, although their effectiveness varies by event type. Additionally, when key users act as “rumor clarifiers” in collaboration with officials, the effectiveness of official clarifications is enhanced. Conversely, when they act as “rumor spreaders”, the negative impacts of rumors intensify, necessitating stronger platform management. Therefore, it is suggested that an “Official-Platform-Key User” collaborative governance model should be established, tailored to the specific characteristics of different types of emergency events, to foster a healthy online information ecosystem. Related Articles

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Productivity Improvement and Innovative Development in Manufacturing Industry: An Empirical Study on Empowering the Digital Economy LI Huiquan, JIAN Zhaoquan 2025, 34 (5):  1355-1367.  doi: 10.3969/j.issn.2097-4558.2025.05.013 Abstract ( )   PDF (1125KB) ( )   PDF（mobile） (301KB) ( 0 )   To explore the impact and mechanism of the digital economy on the innovative development of manufacturing enterprises, empirical tests were conducted using Chinese urban data and micro data of manufacturing enterprises from 2011 to 2020. The findings demonstrate that the development of the digital economy has significantly improved the productivity of manufacturing enterprises, becoming a new driving force for innovative development in the manufacturing industry. This conclusion is significantly supported by endogeneity testing. The impact mechanism indicates that the development of the digital economy enhances the total factor productivity of manufacturing enterprises by improving resource allocation and promoting technological innovation. The threshold model and spatial model tests indicate that the digital economy has a significant non-linear feature of increasing marginal effects and spatial spillover effects on the productivity improvement of the manufacturing industry. Heterogeneity analysis shows that the digital economy has a significant impact on improving productivity in the eastern region, digital economy industries, and state-owned enterprises. Adopting a micro perspective of enterprises, this paper deepens the understanding of how urban digital economy promotes innovative development in manufacturing, providing empirical evidence on digital economy-enabled industrial innovative while offering theoretical references for formulating digital economy development strategies and manufacturing industry policies. Related Articles

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Firms’ Clean Technology Investment and Production Decisions Considering Stochastic Demand under Carbon Trading Policy JIN Shuai, DING Chenchong 2025, 34 (5):  1368-1382.  doi: 10.3969/j.issn.2097-4558.2025.05.014 Abstract ( )   PDF (2545KB) ( )   PDF（mobile） (646KB) ( 0 )   Considering stochastic demand and decision-making preferences, this paper developed a three-stage decision-making model for manufacturing firms under carbon trading policy. This model examines the optimal technology investment and production decisions for firms producing homogeneous products using either clean technology or conventional technology. Additionally, this paper derives a technology investment decision model and a production decision model for risk-neutral firms under stochastic demand scenarios. Following the mean-variance analytical framework, it formulates three optimization models with varying decision preferences. The main findings reveal that the optimal decision for a risk-neutral firm depends on the marginal returns of producing clean products, the cost of technology investment, and the market mean. In contrast, the mean-variance decision-making model, which accounts for downside risk, shows that optimal decisions under different decision preferences systematically deviate from the risk-neutral optimal decisions and exhibit more conservative risk avoidance. Moreover, changes in external contextual factors can even reverse the optimal technology investment decisions. Finally, this paper analyzes the effects of different parameters on the model results and decision deviations using numerical examples, and well validates the conclusions. Related Articles

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Dynamic Measurement of Systemic Risk and Spillover Effect of Chinese Listed Financial Institutions: Based on Tail Event-Driven Analysis Perspective LIU Wei, ZHAO Ying, LIU Xiaoxing 2025, 34 (5):  1383-1400.  doi: 10.3969/j.issn.2097-4558.2025.05.015 Abstract ( )   PDF (49184KB) ( )   PDF（mobile） (270KB) ( 0 )   Based on the tail event-driven perspective, this paper, employing the daily data of 38 listed financial institutions in China from 2008 to 2021, dynamically measures the systemic risk of Chinese financial institutions using CoES, and evaluates risk spillover of systemic risk of financial institutions based on the TENQR model. The results show that the systemic risk spillover among financial institutions is asymmetrical, with the banking sector as the main risk spillover and the securities sector as the main risk recipient. Systemic financial risks exhibit cyclical fluctuations, and external shocks can significantly increase the systemic risk levels of financial institutions. Financial institutions with relatively smaller asset but strong ties with other nodes may also become systemically important financial institutions. Related Articles

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Carbon Option Pricing with Damped GARCH Diffusion Model WU Xinyu, ZHU Zhitian, LI Xindan 2025, 34 (5):  1401-1415.  doi: 10.3969/j.issn.2097-4558.2025.05.016 Abstract ( )   PDF (3724KB) ( )   PDF（mobile） (568KB) ( 0 )   A damped GARCH diffusion model is proposed that extends the GARCH diffusion model through the incorporation of damping structure to value carbon options. The proposed damped GARCH diffusion model has the capacity to adequately capture the volatility dynamics, particularly the extreme volatility in the carbon financial market. The risk-neutral return dynamic is derived relying on the Radon-Nikodym derivative. Using the Monte Carlo simulation method, the prices for carbon options are computed. A sequential maximum likelihood method is developed to estimate the parameters of the pricing model using data on the carbon option prices and underlying asset (carbon futures) returns. An empirical analysis based on EUA options shows that damped GARCH diffusion model outperforms the Black and GARCH diffusion models in both in-sample and out-of-sample option pricing. To be specific, the root-mean-square error (RMSE) for the damped GARCH diffusion model is 91.03% and 5.39% lower than that of the Black and GARCH diffusion models in in-sample option pricing, while it is 86.73% and 2.84% in out-of-sample option pricing. The findings are robust to different evaluation criteria. Further discussion demonstrates that the damped GARCH diffusion model outperforms the stochastic volatility jump (SVJ) model in carbon option pricing. The findings highlight the critical importance of incorporating damped diffusion structure in carbon option pricing. Related Articles

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Effects of Employee-Peer Proactive Personality Congruence on Occupational Commitment and Job Performance: The Moderating Role of Work Seniority GENG Juhui, LI Xinxin, JING Runtian 2025, 34 (5):  1416-1432.  doi: 10.3969/j.issn.2097-4558.2025.05.017 Abstract ( )   PDF (3053KB) ( )   PDF（mobile） (304KB) ( 0 )   Based on person-environment fit theories and the occupational future time perspective, this paper proposed that employee-peer proactive personality congruence promoted job performance through increasing occupational commitment, with employee work seniority weakening the first-stage relationship. It tested the hypothesized model with a combination of survey data and secondary data obtained at two separate time points. With a final sample of 1241 doctors from 187 teams, it performed polynomial regression and response surface modeling to test the hypothesized effects. The findings indicate that employee-peer proactive personality congruence positively affects occupational commitment such that employees have higher occupational commitment when their proactive personality is congruent (versus incongruent) with the average level of their peers’ proactive personality. Employees’ work seniority moderates the congruence and incongruence effects. Specifically, when work seniority is low, proactive personality congruence is better than incongruence in terms of boosting occupational commitment. However, when work seniority is high, proactive personality congruence does not affect occupational commitment. Moreover, the negative effect of employee-peer proactive personality incongruence on occupational commitment is greater when employees have lower work seniority. Thus, employee-peer proactive personality congruence is more important for employees with lower work seniority in fostering occupational commitment. Furthermore, occupational commitment is positively related to employee job performance, and work seniority moderates the indirect effect of employee-peer proactive personality congruence on job performance via occupational commitment. Related Articles

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Development and Validation of Entrepreneurs’ Networking Behavior Scale in the Digital Era WANG Yifei, WEI Feng, WANG Jiaonan 2025, 34 (5):  1433-1450.  doi: 10.3969/j.issn.2097-4558.2025.05.018 Abstract ( )   PDF (1503KB) ( )   PDF（mobile） (290KB) ( 0 )   The rapid development and extensive application of mobile internet and fourth/fifth-generation mobile communication technologies have made it common for entrepreneurs to interact and connect with business partners online. However, the extant conceptual framework and measures for entrepreneurs’ networking behavior cannot adequately capture entrepreneurs’ networking behavior in the digital era. There is an urgent need to expand the conceptual framework of entrepreneurs’ networking behaviors and develop a reliable and valid measure that takes digital social media into consideration. Therefore, this paper first develops a conceptual model of entrepreneurs’ networking behaviors using the grounded theory. The conceptual model includes four dimensions: “online broadening,” “offline broadening,” “online deepening,” and “offline deepening”. Then, it develops a scale based on this framework and previous measures. Finally, it conducts exploratory and confirmatory factor analyses to test the reliability and validity of the scale. The results indicate that the newly developed scale exhibits strong reliability and validity. Using this measurement tool, this paper systematically examines the predictive validity of different entrepreneurs’ networking behaviors on new venture, with the “prism” (i.e., network quality) and “pipe” (i.e., network centrality) functions of entrepreneurial networks serving as mediating mechanisms. This paper deepens the understanding of entrepreneurs’ networking behaviors in the digital era, and the new scale facilitates empirical studies in this field. The predictive validation tests also provide initial theoretical support for the outcomes and underlying mechanism of entrepreneurs’ networking behavior in the digital era. Related Articles

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Impact of Chinese Cultural Symbolism of Brand Identity on Brand Equity: Taking UK Market as an Example GUO Rui, LUO Yang, ZHOU Min, TAO Lan, CHEN Jiajia, XIAO Zihan 2025, 34 (5):  1451-1470.  doi: 10.3969/j.issn.2097-4558.2025.05.019 Abstract ( )   PDF (3795KB) ( )   PDF（mobile） (298KB) ( 0 )   In an era where attention has become a kind of scarce resource, brand identity, as a critical visual asset, carries brand culture and vision of enterprises. Good brand identity enables the brand to stand out. Adopting the perspective of perceived innovation and brand confidence, this paper, employing four experiments in the UK market, examines how the cultural symbolism (Chinese cultural symbolism versus non-cultural symbolism) of brand identity impacts brand equity in the internationalization of Chinese national brands, along with its underlying mechanisms and boundary conditions. The findings reveal that cultural symbolism in brand identity positively influences brand equity for national brands operating overseas. The need for cognition and international relations serve as moderators, while perceived innovation and brand confidence play a chained mediating role. These results enrich cross-cultural research on brand logos and the internationalization of national brands, offering actionable visual design strategies for global brand. Related Articles