China Industrial Economics is supervised by Chinese Academy of Social Sciences, and sponsored by Institute of Industrial Economics, Chinese Academy of Social Sciences. It aims to report researches on industrial economics and business management, and to reflect outstanding research results on Chinese industrial economy and enterprise development. The scope covers national economy, industrial economy and business management. The journal is included in CSSCI, and is the top journal in the field of industrial economics in China.
Compared with Web 1.0, Web 2.0 has decentralized industrial structure, digitized economic activities and connected social life with Internet of Things (IOT). Today’s Internet is not only resources for enterprises available, but also the ability extension for enterprises. Thus, “Internet plus” does not regard Web as an extended information system. In essence, it is crossover administration that combines real and virtual economy as a whole, resulting in “creative destruction” in traditional industries and market foundation. To explain its’ mechanism, this paper proposed a triple reward incrementing loop that includes commerce, manufacturing and R&D ecosystems. Customer community, externalities and network effects both with low transaction costs, parallel interaction triggered by IT and DT, manufacturing technology and IT technology co-evolution, all of them are key factors for positive feedback of the loop. That emotion, knowledge and virtual intermediate products have the “non-consumptive” feature allows them as keystones to support increasing returns and creative destruction. Finally, to avoid the continuous occurrence of creative destruction, the paper emphasized on creating scenes to occupy customers’ time, and using “interface of product” to achieve use value enrichment, and the effective combination of “scene + product” is the inevitable choice to set the isolating mechanism for enterprises which practice the “Internet plus” model.
Does top manager of a specific style prefer a specific style of strategy? Why are there different outcomes at different stages of time when one top manager determines the same strategy? Why is there significantly different performance when the same strategy is executed in different industries? Existing research cannot explain the above phenomena convincingly. Accordingly, based on the upper echelons theory, it is hypothesized there is corresponding matching relationship between top manager’s style and his corporate strategic preference, by employing theory of five leadership styles and strategic decision classification put forward by Miles and Snow. Referring to contingency theory, this paper introduces two contingency factors, namely industry life cycle and corporate capability life cycle, into the analysis of the corresponding matching relationship between top manager styles and corporate strategic decisions from dynamic perspective and demonstrates the above hypothesis that different styles of top managers have different preferences to corporate strategy. Specifically, tiger-style leaders prefer aggressive strategy, owl-style leaders prefer conservative strategy, and peacock-style and koala-style leaders prefer analytical strategies. Based on the above conclusion, the adjusting role of industry life cycle in the matching relationship between top manager styles and corporate strategic decisions is verified, then the correspondingly matching matrix of top manager styles and corporate strategic decisions is put forward, and good coordination between the industry life cycle and the corporate capability life cycle is attached great importance to.
The dynamic optimization of coal mine safety regulation and the coal industry productivity improvement have become key problems urgently to be solved in current coal industry. A reasonable management of the relationship between them is a must to realize a win-win situation between the coal mine safety and benefits. This paper analyzes the theoretical influence mechanism of coal mine safety regulation on the coal industry productivity for the first time, and makes an empirical research by applying the MML index to the evaluation of the coal industry productivity accurately. The study shows that China’s coal mine safety regulation has an inverted U-shaped influence on the coal industry productivity. Both higher safety regulatory intensity that results in higher regulatory compliance costs and lower safety regulatory intensity that leads to higher accident costs will lower productivity. The impact of the safety regulatory intensity on the coal industry productivity depends on the combined effect of the crowding out effect caused by regulatory compliance and the motivating effect resulted from production environment improvement. In addition, the impact of the coal mine safety regulation on the coal industry productivity has significant regional differences. The coal industry in both the region of high output and the central and western regions are susceptible to changes of regulation policies. Therefore, this paper suggests that the government should optimize the coal mine safety regulation system, make moderate and reasonable regulation standard and differentiated safety regulation policies to facilitate productivity improvement and manage the relations between the coal mine safety regulation and the coal industry productivity.
Emissions from motor vehicles have gradually become the main source of air pollution in China. Using the daily data of Chinese cities from 2005 to 2013, this paper analyzes the gasoline price effects on the use of motor vehicle and the air pollution empirically. The results show that fuel costs cannot change the overall air quality in a region, which is mainly because the change of fuel costs has no significant effect on the private cars, buses and motorcycles, but it can affect air quality by changing the use of the non-private cars and taxis. After using the API annual summary data, considering gasoline price impact on the car purchase, choosing IV of the gasoline price and making a 2SLS regression, and removing the restrictions or metro city samples, the results still have robustness. And gasoline price does not significantly influence on the industrial pollution, which passes the placebo effect, suggesting that the gasoline price does affect the air quality by the vehicle use, and it cannot influence and has nothing to do with industrial pollution. Based on this, the paper argues that different fuel pollution effects are due to different sunk costs, but have nothing to do with income levels or upfront input costs, which is confirmed by the income effect and substitution effect. This paper provides certain enlightenment for the energy conservation and emissions reduction targets of the consumption tax of product oil: under the background of the rapid growth of private cars, the government should not simply rely on product oil fuel consumption tax, and should encourage the development of clean energy through financial subsidies.
With the quasi-natural experiment method and CSMAR data, it is found that the level of state-owned enterprises (SOEs) on the long-term investment is lower than that of the non-state-owned enterprise. This may be one of the factors causing the low efficiency of SOEs, while it has been ignored in the previous research. This phenomenon is explored in current study from the angles of constrain and incentive mechanisms on the chairmen of the board in SOEs, with the terms of chairmen of SOEs as the description of constrain, and the stock option incentive of the chairmen of SOEs as the description of incentive. As is demonstrated by OLS regressions, the shorter the term of chairmen of SOEs is, the less the long-term investment is, while the stock option incentive has no impact on it. In order to dealing with the endogenous problem, we find an instrumental variable for the term of the chairman. The IV results confirmed this finding made in this study. As is implied, low level of long-term investment in SOEs is the over-constrained on the chairmen, not the lack of incentive. The effective way to increase long-term investment in SOEs is to relax the constraint on the chairman.
On the basis of “market failure theory” and “system distortion theory,” this paper puts forward “government improper intervention theory,” and studies the reason and mechanism of the over-capacity in strategic emerging industries from the perspectives of government action, industry internal links and supply side. The paper takes the photovoltaic industry as an example and divides the industry into the upper, middle and lower reaches, and measures the capacity utilization rate of the industry and its three reaches by production function approach in the empirical analysis. And meanwhile this paper quantitatively estimates the government subsidies, the distortion degree of land price and financial support and their effect on over-capacity. The results show that, on the one hand, not only structural over-capacity, but also systematic over-capacity coexist in the photovoltaic industry. On the other hand, though traditional government intervention has exacerbated over-capacity in the photovoltaic industry, its impact varies much in terms of different internal links. In general, in the industry the link with greater government intervention always has greater degree of over-capacity. To resolve the current strategic emerging industry over-capacity problem, it is necessary to change the traditional supporting policies, avoid the inappropriate government intervention, further promote the marketization of the factor market, improve the capacity of enterprises’ key technology research and manufacturing, and avoid a low-end locking on the emerging industrial chain, in order to form a dynamic mechanism with innovation as the core.
Demand analysis is the basic theoretical foundation for China’s electricity development and reform, but the special characteristics of electricity demand add the difficulty and complexity of demand analysis. Using the dynamic partial adjustment model, dynamic panel data technique, and the provincial data from 2003 to 2013, this paper investigates how the technical characteristics and economic structures affect national and regional electricity demand. It shows that ignoring the electricity specialties, such as the derived feature of electricity demand, the multidimensional feature of the commodity property of electricity and the characteristics of electricity as a General Purpose Technology, will result in the biases of identification and conclusions. This paper emphasizes the important influence of structural factors toward electricity demand in economic development by setting up the dynamic partial adjustment model, filtering key control variables and addressing the endogeneity problem. Industrialization, urbanization, the growth of non-public economy, and the reduction of the urban-rural gap will drive electricity demand in the long term, while the electricity marketization reform and further opening-up will guide China’s economy towards a sustainable and green development. The conclusions from national perspective and regional perspective differ, and influences of various economic structural factors are different from each other in the eastern area, the central area and the western area, so the decisions about China’s electricity development and reform must take the regional heterogeneities into consideration. Particularly, according to the differences of regional price elasticity, provinces in the central area are relatively more suitable for becoming experimental markets for the new round of electricity institution reform.
Taking into account of differences in the provincial price index and the rate of depreciation, this paper starts from the adjusted accounting methods to estimate China’s 30 provinces provincial R&D capital stock from 1998 to 2013. Based on the perspective of innovation value chain and the computational staged provincial R&D capital stock, this paper analyzes the spatial spillover effect and the value chain spillover effect of China’s provincial R&D capital, and the synergistic effect and crowding out effect arising from the two effects mentioned above. The results show that the internal structure of regional innovation activities in China presents the phenomenon of “neglecting fundamental research and emphasizing practical and applied research.” The proportion of experimental development capital stock exceeds 80% and has an increasing trend yearly, and the proportion of applied research and fundamental research capital stock is less than 20%. China’s regional R&D activities manifest clear spatial spillover effect and the value chain spillover effect. Applied research capital investment and fundamental research and experimental development investment formed a good synergistic effect, but experimental development investment has a certain crowding out effect on fundamental research investment.
