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.
By adopting the multiple case study method and taking the standard model of strategic choice as a theoretical lens, this study analyzes processes of four Chinese IT service providers’ operational capabilities development and strategic choices to uncover mechanisms and rationales of different emotional roots’ impacts on strategic choices. The findings are as follows: when IT service suppliers have positive emotional roots, they prefer to choose exploratory strategies; otherwise, they prefer to select exploitative strategies. In addition, IT service providers’ emotional roots affect strategic choices by influencing operational capabilities development. Specifically, variant emotional roots firstly direct organizational attention, then impact on operational capabilities development which consists of two sub-processes, namely, “constructing routines” and “assembling capabilities,” and finally the emotional roots influence the strategic choices. Theoretical contributions lie in that this study defines and operationalizes a concept of “emotional roots” as well as explores how individual emotions influence organizational strategic choices and capabilities development from a perspective of IT service suppliers. As for the managerial implications, IT service suppliers need to take into consideration the impact of emotional roots on strategies in order to make effective strategic choices when they are facing turbulent environment.
Based on the distinctive characteristics of global value chain (GVC) of organically integrating import and export, this paper, for the first time from the spatial dimension, clarifies the spatial spillover mechanism of GVC for regional productivity, and by referring to Chinese customs’ micro data and regional input-output tables of 30 provincial areas in China, it empirically investigates the spatial spillover effects of GVC participation on regional productivity with a spatial Durbin model of multiple static and dynamic spatial weight matrixes. The results show that GVC participation not only produces intra-regional spillovers but also produces inter-regional spillovers, and the spatial spillover is largely realized by improving the resource reallocation in the neighborhood. Further considering the national value chain, we find that GVC interacting spatially with national value chain (NVC) enhances the spillover effects of GVC on regional productivity. To be specific with different modes of embeddedness in GVC, product embeddedness has significant spatial spillover effects on regional productivity, but function embeddedness has no obvious spatial spillover and shows the characteristics of localized spillover due to the relative closeness of service value chain and the complexity and specificity of knowledge structure. However, the construction of NVC can promote the spatial spillover effects of function embeddedness on the regional productivity. This paper has a comprehensive assessment and a deep understanding of the effects on productivity of GVC embeddedness in developing countries, which is conducive to China’s construction of a new opening-up pattern with the GVC-NVC common evolution and virtuous connection.
Marxian economics is a rigorous academic paradigm system with the theory of value as the mainline and supply and demand theory as the auxiliary line. Based on the paradigm of the theory of value, the so-called supply side is manifested (or defined) as substantial supply providing utility, real supply providing useful products, normal supply providing exchange value measured by monetary unit subject to use value, and virtual supply marked by credit money without use value. In one word, in terms of core meaning, substantial supply is “to provide usefulness,” real supply “to provide useful things,” nominal supply “to provide value,” and virtual supply “multiplication of symbolic value.” The nature of the theory of value with disordered supply side is “imbedded” in the supply and demand system. Its key reflection is structural imbalance as well as quality and efficiency deficiency. The evolution and alienation of supply forms experience three reversals of “purpose” and “instrument,” namely the emergence of commodity fetishism and currency fetishism mentioned by Marx. No matter how human beings live in a world of monetary illusion and no matter how complicated the complex monetary world weaves the economic relations, where human beings even look at the world in a completely reversed way and confuse “purpose” and “instrument”, the people have to return to the most substantial and the most original level of economy and seek a way out in substantial supply and real effective supply, once the supply system, especially substantial supply, is highlighted with serious problem, and monetary (demand-side) policy efficiency decreases. It is the root cause for China’s supply-side structural reform. Supply-side structural reform aims to improve the coordination, efficiency and quality of the supply and demand system. The five priority tasks (cutting overcapacity, reducing excess inventory, deleveraging, lowering costs, and strengthening areas of weakness) are finally manifested as the improvement of labor productivity and aim to make the innovation space of supply system wider and the entire economic society more vigorous.
By constructing a theoretical model, this paper proposes the hypothesis that when the factor enhanced technology diffuses from developed areas to less developed areas, there are diffusion effects of directed technical change from developed areas to less developed areas. Based on the empirical data of 266 Chinese cities, this paper measures the directions of technical change of these cities, and analyses the diffusion effects from three developed cities, Beijing, Shanghai and Guangzhou to other Chinese cities empirically. This study finds that the directed technical change of Beijing, Shanghai and Guangzhou has significantly influence on the directed technical change of other cities. This paper also indicates that the diffusion effects of the capital enhanced technology from Beijing, Shanghai and Guangzhou are existed, and the labor enhanced technology of Shanghai will diffuse to other cities. The empirical study provides support to the hypothesis in the theoretical model, and indicates the mechanism of the diffusion effects of directed technical change.
Macro data-based research shows that foreign direct investment (FDI) may lower or increase labor share. This paper tried to use micro data to resolve this kind of conclusive conflicts. Micro data study can overcome the limitations of data smoothing group difference and can distinguish labor heterogeneity and enterprise heterogeneity as well. Thus, micro data has unique value. Based on data of A-share listed companies in Shanghai and Shenzhen stock markets in China between 2007 and 2014, this paper discussed the influence of FDI on labor share of listed companies by using staff income share as the micro measurement of labor share. The study found that FDI has increased income share and has a positive spillover effect. By differentiating motivations of foreign investment, it is found that horizontal FDI has a positive effect on staff income share whereas this positive effect disappears when it comes to vertical FDI. Furthermore, while distinguishing the extent of control power, it is found that stronger control power of foreign-funded enterprises will intensify this positive effect. Through the analysis of the influencing mechanism, it is found that FDI increases staff income share through technological progress, increasing the numbers of patents and total factor productivity (TFP). The findings of this paper provide micro evidence to prove that FDI has a positive influence on income share of rare labor, and enrich the literature related to the labor share.
With the rapid development of P2P platform, the investment mode in the platform is constantly changing, and the loan success rate of borrowers is greatly improved. The financing efficiency is becoming more and more important when the loan success rate can be guaranteed. The improvement of the financing efficiency can not only improve the satisfaction of borrowers, but also accelerate the flow of funds in the platform, which can improve platform profitability and promote the development of the platform. This paper focuses on the new investment mode of platform-participating investment, and studies the relationship between the degree of platform participation and the financing efficiency by the PaiHuoBao data of the PaiPaiDai lending platform. The results show that a certain degree of platform participation can significantly shorten the financing time and improve the financing efficiency. There is no significant difference between small loans and large loans to accelerate financing for platform participation. There is also no significant difference between low risk loans and high risk loans. We also find that the degree of platform participation should not be too much. Excessive platform participation will extend the funding time and reduce funding efficiency.
