Table of Content

28 September 2021, Volume 30 Issue 5 Previous Issue    Next Issue

Select

Credit Risk Prediction of Company Based on Optimal Feature Set ZHOU Ying, SU Xiaoting 2021, 30 (5):  817-838.  doi: 10.3969/j.issn.1005-2542.2021.05.001 Abstract ( )   PDF (1137KB) ( )   Related Articles

Select

Ordering and Carrier Capacity Expansion Decision-Making Based on Distribution-Free in Online Sales QIU Ruozhen, SHANG Kunhua 2021, 30 (5):  839-859.  doi: 10.3969/j.issn.1005-2542.2021.05.002 Abstract ( )   PDF (11635KB) ( )   This paper studies the decision-making problem of ordering and carrier capacity for an online sales enterprise with certain carrier capacities under uncertain demand. Based on the expected profit function of the online sales enterprise, a robust optimization model based on distribution-free is developed with the mean and variance as the only known demand distribution information. For the proposed model, the dual theory is used to transform it into tractable mathematical programming. The corresponding ordering and carrier capacity decisions are derived, and the sensitivity of relevant system parameters is analyzed. The effectiveness of the model in dealing with demand uncertainty is verified by numerical calculation. The results show that the optimal order quantity of the online sales enterprise increases while the increment of the optimal carrier capacity decreases with its original capacity. When the online sales enterprise has its own carrier capacity, the expected profit in different distribution is generally higher than that without capacity. In particular, a comparison of the robust decisions based on the proposed model with those obtained in normal or uniform distribution demonstrates that the difference between the expected profit derived from the robust decisions and the optimal expected profit when the demand distribution is known is relatively small, which indicates that the decisions derived from the proposed model have a good robustness. Related Articles

Select

Effect of Signature Auditor’s Personal Experience on Tax Avoidance Behavior of Enterprises LIU Xiaoxia, LI Minghui 2021, 30 (5):  860-878.  doi: 10.3969/j.issn.1005-2542.2021.05.003 Abstract ( )   PDF (1123KB) ( )   There is a close connection between external auditing and tax avoidance behaviors of enterprises. Auditing can directly or indirectly affect the implementation of tax avoidance strategies of enterprises. Due to the complexity of tax avoidance activities, the personal experience of auditors is an important variable affecting the tax avoidance behaviors of enterprises. There are different theories about whether experienced auditors will promote or inhibit the aggressive tax avoidance of enterprises. This paper examines the impact of the signature auditor’s personal experience on the tax avoidance behaviors of enterprises by using the data of A-share nonfinancial listed companies in China from 2007 to 2018. The results show that the signature auditor’s personal experience has a significant negative relationship with effective tax rate. This result demonstrates that the auditor may use his/her experience to help client to avoid tax. Further tests show that an experienced auditor may promote the tax avoidance an enterprise by partly improving the accounting information quality of the enterprise, which is consistent with the information hypothesis. In addition, the personal experience of the signature auditor is relevant to tax avoidance only when the degree of tax avoidance (and related risk) of the enterprise is at a low level. Moreover, the significantly negative relationship between the personal experience of the signing auditor and effective tax rate only exists in the areas with poor legal environment, and that the importance of the enterprise can strengthen the impact of the signature auditor’s personal experience on tax avoidance of the enterprise. The above results indicate that experienced auditors will weigh the risks (legal and regulatory risks) and benefits (retaining customers) and then make decisions on whether to help customers to avoid tax or not. This paper expands the research on the relationship between auditing and tax avoidance of enterprises from the perspective of signature auditor’s personal experience, and helps to understand auditor’s risk decisions. Related Articles

Select

Wealth Accumulation Leads to Strategy Persistence？Innovation Aspiration Surplus，Organizational Slack，and R&D Internationalization ZHONG Xi, SONG Tiebo, CHEN Weihong, ZHU Zijun 2021, 30 (5):  879-891.  doi: 10.3969/j.issn.1005-2542.2021.05.004 Abstract ( )   PDF (995KB) ( )   Based on the theory of enterprise behavior, this paper analyzed the impact of the two rich conditions, i.e., innovation aspiration surplus and organizational slack, on decision-making of R&D internationalization, and the moderating effect of political connections and international experience of enterprises. Based on the empirical data of China’s A-share listed companies from 2008 to 2016, it is found that innovation aspiration surplus and organizational slack have a significant positive impact on the research and development (R&D) internationalization of enterprises. In addition, political connections of enterprises help enterprises gain more “going out” advantages, and strengthen the positive impact of the two rich conditions on the R&D internationalization of enterprises. Moreover, the international experience of enterprises help enterprises gain more “going in” advantages, and ultimately strengthen the positive impact of innovation aspiration surplus and organizational slack on the R&D internationalization of enterprises. This paper not only strengthens the explanatory power of the enterprise behavior theory on the strategic decision-making of enterprises, but also has enlightenment for enterprises to better promote R&D internationalization. Related Articles

Select

Dual-Channel Supply Chain Financing Strategies Based on Fairness Preference Manufacture Under Bilateral Capital Constraints GUO Jinsen, ZHOU Yongwu, REN Mingming, YANG Yuzhen 2021, 30 (5):  892-904.  doi: 10.3969/j.issn.1005-2542.2021.05.005 Abstract ( )   PDF (1173KB) ( )   For a dual-channel supply chain where the manufacturer and retailer are both capital-constrained and the manufacturer is fairness concerned, to finance both entities, two types of financing portfolio strategies, i.e., “bilateral bank financing” and “bank financing and trade credit” are constructed. In addition, the effects of initial capital scale, fairness preference of the manufacturer, and sensitivity of delayed payment of wholesale price on decision-making of each member and profit are analyzed. Moreover, a numerical analysis is conducted to verify and expand the conclusion. The analysis shows that the initial capital scale, the degree of fairness preference, and the sensitivity of deferred payment of wholesale price have different impacts on the optimal decisions and corresponding performance of supply chain members. Specifically, the capital-constrained retailer may gain higher profits under financing portfolio strategies than that without capital constraint. When the two portfolio strategies are available, the bilateral bank financing is preferred by the retailer only if the sensitivity of deferred payment of wholesale price is relatively low. Interestingly, however, the manufacturer prefers bilateral bank financing if the sensitivity of deferred payment of wholesale price is relatively high. Related Articles

Select

Operational Decision-Making of Derivative Services in Manufacturing Companies：Trade-off Between Self-Operation and Outsourcing YANG Zichao, LUO Jianqiang, PAN Rongrong 2021, 30 (5):  905-915.  doi: 10.3969/j.issn.1005-2542.2021.05.006 Abstract ( )   PDF (3316KB) ( )   As the proportion of services in the revenue of manufacturing companies continues to increase, service derivative has become an effective way to achieve the service-oriented manufacturing. However, the relative concentration of product manufacturing and the absolute decentralization of service provision have been perplexing the self-operating/outsourcing decision-making of manufacturing companies on derivative services. Aimed at the situation where a manufacturing company and a service contractor sells one type of physical product and derivative service, a game model under two models of derivative service self-operation and outsourcing was constructed. The results show that the decision-making of self-operation/outsourcing on derivative services is affected by multiple factors such as service level, product service relevance, service provision advantage coefficient, and revenue sharing coefficient. In the self-operation or outsourcing mode, there is a boundary between the derivative service level and the service provision advantage coefficient to promote the profits of both parties. The product service relevance promotes the derivative service level and the profits of both parties. In the outsourcing mode, the revenue sharing coefficient should be set for the purpose of achieving greater value creation for both parties. Related Articles

Select

Production Decision of Remanufacturing Firms with Carbon Quota Repurchase Financing CHEN Weida, CHEN Chao 2021, 30 (5):  916-925.  doi: 10.3969/j.issn.1005-2542.2021.05.007 Abstract ( )   PDF (3603KB) ( )   Taking the remanufacturing firms with capital constraints as the research object, the production decision problem in carbon quota repurchase financing is analyzed. The decision models of remanufacturing production with and without carbon quota repurchase financing under capital constraints are established respectively. The optimal solutions under different conditions are obtained by using the Kuhn-Tucker condition, and the optimal solutions of the two scenarios are compared. Then, the effects of initial production capital, consumer preference, and carbon quota repurchase amount on optimal output and profit are analyzed by utilizing numerical examples. The research shows that when the initial production capital is low, the carbon quota repurchase financing strategy will increase the new product output and total output. If consumers have a higher preference for remanufactured products, the carbon quota repurchase financing strategy can improve the profits of remanufacturing firms. With the increase of carbon quota repurchase amount, the profit of remanufacturing firms increases first and then decreases. In addition, there is a unique optimal carbon quota repurchase amount that maximizes the profit. Related Articles

Select

Effect of Negative Online Review and Corporate Response on Customer Purchase Intention DU Xuemei, WU Yawei, GAO Hui, LI Meiling 2021, 30 (5):  926-936.  doi: 10.3969/j.issn.1005-2542.2021.05.008 Abstract ( )   PDF (1008KB) ( )   From the perspectives of the proportion of negative online reviews and the severity of failure, this paper explores the influencing mechanism and internal mechanism of negative online reviews on purchase intention of potential customers, based on the attribution theory and perceived trust and corporate response. The statistical analysis of 496 questionnaires shows that both the proportion of negative online reviews and the severity of failure have a significant negative impact on the purchase intention of potential customers, by locus attribution, controllable attribution, stability attribution and perceived trust. In the case of different proportion of negative online reviews and the severity of failure, the corporate should adopt different response strategies to save costs and reduce losses. Related Articles

Select

Research on Human Resource Flexibility of Financial Institutions from the Perspective of Innovation CAO Yuling, TIAN Xinmin 2021, 30 (5):  937-947.  doi: 10.3969/j.issn.1005-2542.2021.05.009 Abstract ( )   PDF (1016KB) ( )   This paper expands the definition of human resource flexibility and enriches the research scenario of human resource flexibility, systematically constructs the relationship between human resource flexibility and financial institution innovation, and applies the quantitative analysis method to verify the relationship between human resource flexibility and financial institution innovation, to further deconstruct the “black box” problem in the process of the influence of strategic human resource management on organizational performance through human resource flexibility. In addition, it systematically constructs the relationship model between human resource flexibility and business innovation of financial institutions, and proposes and verifies that human resource flexibility is an important independent variable of human resource practice, affecting business innovation. The exploration ability and development ability of business innovation play an important role in the process of influencing the path. The role of intermediary variables is very prominent, and the complexity of the environment also regulates the role of human resources in business innovation. This paper provides a more clear thinking for exploring the path of the impact on organizational performance. Related Articles

Select

How Can Manufacturers Benefit from Suppliers’ Innovation：An Empirical Study Based on the Perspective of Diversity of Technological Knowledge Base 2021, 30 (5):  948-960.  doi: 10.3969/j.issn.1005-2542.2021.05.010 Abstract ( )   PDF (1016KB) ( )   In the era of open innovation, manufacturers are increasingly relying on suppliers and other external partners in their innovation process. Based on the absorptive capacity theory and the organizational inertia theory, this paper examines the influence of diversity of technological knowledge base on the utilization of supplier innovation. The diversity of technological knowledge base can promote the innovation utilization of suppliers by improving the absorptive capacity and restrain the innovation utilization of suppliers by reducing the absorptive intention. However, there are significant differences in the mechanism and effect of supplier innovation between the diversity of technology-related and technology-independent knowledge base. The results obtained from the data of listed manufacturing companies in China show that the supplier innovation performance is positively correlated with enterprise innovation performance. The correlation between the innovation performance of suppliers and that of the enterprises is weakened by the irrelevant diversity of technological knowledge base. The correlation diversity of technological knowledge base enhances the positive correlation between the innovation performance of suppliers and that of enterprises. Related Articles

Select

Effects of Knowledge Diversity and Task Dependence of Team Members on Team Performances LIU Xuan, CHEN Jin, CHEN Meimei 2021, 30 (5):  961-970.  doi: 10.3969/j.issn.1005-2542.2021.05.011 Abstract ( )   PDF (982KB) ( )   Virtual doctor team is a novel model on the online health consultation platform. Incorporating information technology, it can provide more timely and comprehensive consultation services for patients. It plays an important role in reasonably matching doctors and patients and promoting hierarchical diagnosis and treatment. However, there are few studies on the mechanism of virtual doctor teams. This paper incorporates an Input-Process-Output (IPO) theoretical model to investigate how knowledge diversity and task dependence among team doctors affects their virtual team performances and how the frequency of interaction among team members moderates the effects of knowledge diversity and task dependence on team performance. In this study, the panel data of eight consecutive months of a virtual doctor team from the Good Doctor Online Website were collected, and panel negative binomial regression random effect model was used to verify those hypothesis. The empirical results show that knowledge diversity and task dependence have a significant positive impact on team performance, and contact frequency among members negatively moderates the impact of task dependence on team performance. This conclusion broadens the theoretical application of virtual doctor teams and provides practical guidance for the establishment of efficient virtual doctor teams on online health consultation platform. Related Articles

Select

Matching Modeling of Dynamic Ridesharing with Consideration of Safety HOU Liwen, ZHANG Li 2021, 30 (5):  971-981.  doi: 10.3969/j.issn.1005-2542.2021.05.012 Abstract ( )   PDF (1281KB) ( )   Under the influence of safety, a dynamic ridesharing system for individual travelers was built and the simulation results were analyzed. A framework for the dynamic ride-sharing model was constructed, with sub-models including passenger safety trust, policy orientation, platform safety investment and safety events respectively. The operation data were obtained through computational simulation to evaluate the influence of policy publicity and information intensity of policy as well as platform safety investment on the matching rate between drivers and passengers. The results demonstrate that the dual supervision system of government and platform leads to a remarkable enhancement on the matching rate. Besides, policy guidance has an important impact on the driver-passenger matching rate. Short-term policy publicity is conductive to the promotion of matching rate. However, as the publicity activities continues, the effectiveness of the promotion also decreases. Similarly, the intensity of platform safety investment has an analogous attenuation effect on the growth of driver-passenger matching rate. In particular, drivers who are more sensitive to platform safety investment are supposed to gain more focus so as to make the investment measures more efficient. Related Articles

Select

How Political Sponsorship and Space Resource Endowment Shape the Performance of Makerspace：Evidence from 276 Su Qing C Spaces in Jiangsu Province ZHANG Hui, ZHOU Xiaohu, WU Zhouyue 2021, 30 (5):  982-993.  doi: 10.3969/j.issn.1005-2542.2021.05.013 Abstract ( )   PDF (1054KB) ( )   Makerspace, as a new type of entrepreneurial incubator in Chinese context, has an significant contribution to the implementation of the policies of mass entrepreneurship and innovation. However, many makerspaces still face many problems, and how to solve those problems has become an important academic topic. Based on the organizational sponsorship theory, in this paper, the mediating mechanism of political sponsorship affecting makerspace performance, and the moderating effect of resource endowment between them were explored. An empirical test was conducted by using the data of 276 Su Qing C makerspaces from Jiangsu Province. The results show that there is a positive relationship between political sponsorship and makerspace performance, and the buffering effect and bridging effect plays a mediating effect between political sponsorship and makerspace performance. Resource endowment negatively moderates the effect of buffering effect but positively moderates the effect of bridging effect on the makerspace performance. The conclusion will help to deepen the understanding of political antecedents of makerspace performance, and has an important implications for empowering makerspace through policy design. Related Articles

Select

Impact of Air Pollution on Regional Innovation Capacity：The Intermediary Role Based on the Flow of Human Resources and the Regulatory Role of Marketization XIAO Zhenhong, LI Yan, FAN Jundi 2021, 30 (5):  994-1004.  doi: 10.3969/j.issn.1005-2542.2021.05.014 Abstract ( )   PDF (957KB) ( )   Air quality is an important factor that affects human behavior, because its quality not only affects regional economic development and innovation capabilities, but also concerns human health. Human resources are an important foundation for innovation and development, and are the key to affecting regional innovation capabilities. This paper, taking provinces as research objects discusses the impact of air pollution on regional innovation capacity and its mechanism by using the 2008–2017 provincial-level air quality data in China. It is found that air pollution will significantly reduce regional innovation capacity and inhibit regional innovation output and will lead to the “squeezing-out effect” of regional innovation human resources. Air pollution significantly increases the regional flow of human resources, because innovative human resources are more likely to migrate to areas with high air quality. From the perspective of the impact mechanism, air pollution affects regional innovation capacity through the effect of the regional flow of innovative human resources and physical and mental status. Meanwhile, the regional marketization plays a positive role in regulating the process. Specifically, the higher the regional marketization, the more obvious the squeezing out of human resources, and the higher the level of regional marketization, the stronger the promotion effect of human resources on regional innovation capabilities. Related Articles

Select

Optimization Algorithm for Multi-Commodity Pickup and Delivery Problem with Time Windows and Transshipment WEN Kun, GUO Peng, PEI Xia, WU Xiao 2021, 30 (5):  1005-1015.  doi: 10.3969/j.issn.1005-2542.2021.05.015 Abstract ( )   PDF (1094KB) ( )   In order to fulfill the multi-commodity sales demand of fast-fashion chain stores, load capacity restriction of vehicles, multiple commodities, transshipment, service time window of stores and other factors should be considered. In this paper, the multi-commodity pickup and delivery vehicle routing problem with time windows and transshipment is studied. In order to effectively reduce inventory management and transshipment cost, it is usually encouraged to allocate goods between stores and control the number of vehicles used. In view of this, this paper first tries to minimize the number of vehicles used. Then, it minimizes the transshipment cost (transportation cost and warehouse handling cost). After that, it formulates a mixed integer programming model and designed a two-stage search algorithm by utilizing the shortest route insertion rule to generate the initial solution, and combining 8 neighborhood operators to generate neighborhood solutions. The results of benchmark instances indicate that the algorithm outperforms other existing algorithms in literature. Furthermore, 72 test instances are generated based on the actual operation data of a female shoe chain store. The computational results show that the quality of the solution and efficiency of the algorithm are better than those of the mixed integer programming model. Related Articles

Select

Simulation of High-Speed Rail and Civil Aviation Passenger Travel Behavior Considering Latent Variables HAN Zhen, ZHU Yuankun, XU Meng 2021, 30 (5):  1016-1023.  doi: 10.3969/j.issn.1005-2542.2021.05.016 Abstract ( )   PDF (1131KB) ( )   With the rapid development of China’s high-speed rail, the choice between high-speed rail and civil aviation travel has become a hot issue in the field of passenger travel behavior research. The simulation modeling of such passenger travel decisions can more systematically and clearly describe the characteristics of passengers and the evolution of competition between high-speed rail and civil aviation. First, based on the planned behavior theory, a multiple indicators and multiple causes model of high-speed rail and civil aviation passenger travel intentions was constructed by introducing time-sensitive and price-sensitive latent variables. Then, the exogenous variables and latent variables of the model were added to the utility function of trip decision to establish the simulation model. The results show that in the time and price sensitivity analysis, the effect of price sensitivity on passenger travel behavior starts at 500km, much earlier than time sensitivity. In the decision-making context of choosing high-speed rail and civil aviation travel, the passenger group can be effectively divided according to time sensitivity and price sensitivity. Compared with other passengers, Class II passengers are more willing to increase time costs and reduce economic costs. However, Class IV passengers are the opposite. Compared with Classes I and II passengers, Classes III and IV passengers are more flexible in switching between time cost and economic cost. Related Articles