Sponsor(s): Industrial economy research institute
12 issues per year
Current Issue: Issue 07, 2016
Journal official website:http://www.jjgl.cass.cn/CommonBlock/GetSiteDescribeDetail/1242?channelID=1242
Economic Management Journal is supervised by Chinese Academy of Social Sciences, and sponsored by Institute of Industrial Economics, Chinese Academy of Social Sciences. It aims to report the economics-based management research, which is an indispensable reference for the management of scientific research. Its scope covers macro-economic management, industrial and regional economic management, business management, management science and engineering, public administration and management reviews. The Journal is included in CSSCI.
Associate Editors in Chief
From “reverse M&A” to “reverse absorption”: evidence from cross-border M&A of China’s construction machinery enterprises
Business Management Journal,2016,Vol 38,No. 07
In recent years, with Chinese economy developing rapidly, Chinese manufacturing enterprises have been expanding continuously in global scope. In response to the new trend of “international competition domestically, and domestic competition internationally,” a large number of Chinese manufacturing firms have gone across the boundary or are planning to go out for acquiring foreign companies, especially those with strategic resources such as technology. The knowledge seeking acquisition by Chinese enterprises in the developed countries has shown a surging trend. This paper focused on the phenomenon of reverse knowledge transfer during cross-border acquisition by Chinese construction machinery enterprises including Zoomlion, SANY as well as XCMG. Based on the characteristics of latecomer firms in China, this paper proposed a research framework to analyze the mechanism of reverse knowledge transfer based on absorptive capacity during the cross-border acquisition. In the paper, we define reverse knowledge transfer in international M&A, and argue that there are three contextual dimensions, knowledge foundation, knowledge consistency and market or technical paradigm will moderate the impact of absorptive capacity on reverse knowledge transfer, and finally on innovation performance in acquisitions. We develop specific hypotheses concerning the nature of these effects, and test our hypotheses by multi-case study on China’s MNC acquisition in construction machinery manufacturing industry, which generally plays an important role in the national economy. Innovation is critical for firms to adapt to turbulent environments and achieve a sustainable competitive advantage. Acquiring equipment and technology in M&A is not equal to founding innovative ability. Regarding reverse absorptive capacity, it refers, after identifying potentially useful knowledge, the firm must transfer that knowledge from the M&A objectives and edit it to make it understandable to itself. Then, the firm must use and transform the knowledge into specific product or architectural design that constitutes product innovation. The research performed show that knowledge foundation and consistency provide great potential for knowledge transfer and absorptive capacity in international acquisitions. As latecomers, China’s firms could utilize innovation opportunities of “following” from market tracks to achieve greater and more breakthrough. According to market tracks, innovative products or service within market tracks could essentially acquire the opportunities of eroding place which starts from the emergence of a new market and ends with the substitution or disruption of the existing market. The research shows that Chinese enterprises with latecomer advantage can get urgently needed knowhows through acquisitions of enterprises or their business departments of developed countries. However, it is far from enough to acquire the advanced technology and knowledge of acquired firms just by capital, and strong absorptive capacity is also essential to this process. Absorptive capacity can play a very important role in acquiring implicit knowledge, while implicit knowledge is the basis of enterprises’ innovative capability. Regarding to M&A integration, the paper concludes that the firms can improve the overall technological capabilities by knowledge transfer based on absorptive capacity, which refers to effective post integration and establishment of mutual technological learning and knowledge sharing mechanism. Finally, the theoretical implication and managerial practice are discussed. The course of China firm’s internationalization is still in the stage of exploration and learning. China is a developing country, the gaps of industrial foundation and hi-tech between China and developed countries are huge. For the goal of innovation and development, China’s firms need to go to international market for strategic resources and new market. But, the experience following the analysis of this paper is choosing the objective according to the standard of knowledge consistency, and then building the innovative capacity by reverse absorption, finally improving overall competitive advantage in global market.
?Impact of authentic leadership on employee’s taking charge behavior: the role of employee’s intrinsic motivation and interpersonal sensitivity
Business Management Journal,2016,Vol 38,No. 07
This paper aims to discuss the relationship between authentic leadership and employee’s taking charge behavior, explore the mechanism process of how authentic leadership motivates employee ’s taking charge behavior, and investigate how employee’s personal characteristic affects authentic leader’s leadership effectiveness. As an important part of positive organizational behavior theory, authentic leadership has a widespread positive impact on employee’s proactive work behaviors. Although taking-charge behavior is one of the most meaningful employee’s active work behavior forms, there are few studies focusing on the relationship between leader’s authentic leadership and employee’s taking charge behavior. Most of the previous studies focused on the relationship between authentic leadership and employee’s voice behavior, innovation behavior and help behavior. Though all those three behaviors are the important parts of employee ’s proactive work behavior, taking charge behavior need to be studied. Especially, more and more companies start to implement a kind of flat organization structure, the operation of whole organization more and more depend on employee’s taking charge behavior. So it needs to pay a high value on the positive meaning of employee’s taking charge behavior. Based on self-determination theory, this paper designs a research logic model to study the relationship between authentic leadership and employee’s taking charge behavior. This research logic model concludes all research concepts relations, which based on theoretical analysis and research hypothesis. It emphasizes the mediating role of employee’s intrinsic motivation, and moderating role of employee’s characteristic of interpersonal sensitivity. This paper adopts both literature research methods and empirical research methods. By questionnaire 450 employees from 5 companies in Beijing and Shenzhen, this paper achieves 300 effective questionnaires. By using statistic softwares of SPSS 20 and AMOS 20, all research concepts have been verified to have a good performance on reliability. And also all research concepts have a good performance on confirmatory validity. The effect of common various have been examined by Harman’s single-factor test method, and the results show that the effects of common various are not critical. According to hierarchical regression analysis results, the main conclusion of the study as follows: ( 1) authentic leadership positively related to employee’s taking charge behavior; ( 2) the relationship between authentic leadership and employee’s taking charge behavior have been fully mediated by employee’s intrinsic motivation; ( 3) employee’s interpersonal sensitivity moderates the relationship between authentic leadership and intrinsic motivation. The theoretical contribution of this paper lies in that this paper develops and expands the existing authentic leadership study framework. The relationship between authentic leadership and employee’s taking charge behavior have been firstly discussed and verified by empirical study. Secondly, by using self-determine theory, this paper explores the mechanism of how authentic leadership motive employee’s taking charge behavior. Employee’s intrinsic motivation has been verified to be an important element that could response to authentic leader’s leadership incentive and also motivate employee’s taking charge behavior. At last, this paper verified employee’s interpersonal sensitivity could affect authentic leader’s leadership effectiveness. That makes a theoretical contribution to the application field of authentic leadership. The practical significance of this paper is that this paper emphasizes the importance of employee ’s taking charge behavior. It provides a leadership incentive process for leaders, and also provides an authentic leadership model for organization leaders to study and imitate. Empirical study results show that authentic leadership is an effective leader method to trigger employee’s taking charge behavior, which have a very important meaning for organization’s operating. Secondly, leader should notice that not a leadership style suitable for all employees. Employee’s personal characteristic could also affect authentic leader’s leadership effectiveness. Leaders need to use different motivate methods to lead different type of employees.