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03 March 2017, Volume 59 Issue 2 Previous Issue    Next Issue

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Pricing and Coordination Strategy of Online Agent Selling Dual Channel Closed-loop Supply Chain LIANG Xi，GUO Jin 2017, 59(2): 1-11.  Abstract ( 256 )   In the dual channel closed- loop supply chain, the manufacturer has opened traditional retail channel and network agent selling channel. The traditional retail channel retailer is responsible for selling products and recycling waste products;the online retailer agents for the sale and charges a commission . In this paper, the pricing strategy of the manufacturer in the three decision-making models is studied, which is the centralized decision making, the manufacturer-leading Stackelberg game, the manufacturer and the retailer′ Bertrand game,and the Nash bargaining model is used to coordinate the results. Results show that wholesale price, traditional channel retail price and manufacturer′s profit are higher in two kinds of decentralized decision making, while the retail price of online channels, retailer′s profit and the overall profit are lower in Bertrand game; compared to two kinds of decentralized decision making, centralized decision-making′s traditional channel retail price and overall profit are the lowest, online channel retail price is the highest;the stronger the bargaining power of manufacturers and retailers, the more profit in the profit distribution mechanism. References | Related Articles | Metrics

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The Effects of Social Network Characteristics on the Microblog Marketing ——An Empirical Study based on the Panel Data of Official Movie Microblogs SUN Jiang-hua, YAN Shi-jin 2017, 59(2): 12-18.  Abstract ( 125 )   Taking Sina Microblog as object of study, using social network analysis technology and starting from the characteristics of dynamic information dissemination network, this paper constructs the hypothesis model, which takes topology structure of micro-blog′s network, the individual attribute and the information characteristic of official micro-blog release as variables to explore its effect on microblog marketing. Research shows that the characteristics of the propagation network are related to the size of the propagation network, the gender affects the expansion of the propagation network, and the number of official microblogs posted on the day is negatively correlated with the size of the propagation network. References | Related Articles | Metrics

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The Effects of Relationship Benefits on Relationship Quality——Concurrently Discussing the Moderating Effect of Customers Attachment Avoidance WANG Xiao-fei1,2,WANG Quan-yong3,YU Yi-ping2 2017, 59(2): 19-25.  Abstract ( 81 )   On the basis of the attachment theory, this article takes the customer attachment avoidance as moderator variable to analyze the relationship between customers′ relational benefits and relational quality to service company. The study finds that the extent of customer attachment avoidance can moderate the relationship between relationship benefit and relationship quality. With increasing levels of attachment avoidance, the positive relationship between economic benefit and trust becomes stronger,the positive relationship between social benefit and affective commitment becomes stronger,and the positive relationship between psychological benefit and trust becomes stronger. References | Related Articles | Metrics

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An Empirical Analysis of the Formation Mechanism of Consumers′ Online Purchase Reference Points REN Jie1,2 2017, 59(2): 26-32.  Abstract ( 85 )   The paper explores the factors influencing the formation of consumers′ online purchase decision reference points from the aspects of online merchants and consumers themselves. Based on the interviews and empirical research, the online reference points of decision-making is divided into explicit reference point and implicit reference point. The explicit reference point includes four aspects: price reference point, frame effect reference point, product brand attribute reference point and product review reference point, and the implicit reference point includes the target reference point and consumer preference reference point. This division is conducive to practical application of prospect theory in the field of network marketing and to the expansion of online marketing. References | Related Articles | Metrics

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A Study of the Influence Factors of Purchasers′ Rebuy Intention——An Analysis based on Ingredient Brand Strategy Model HUANG Lei, WU Chao-yan 2017, 59(2): 33-42.  Abstract ( 125 )   The paper checks the sample data of 205 purchasers in China and discusses the influence factors of purchasers′ rebuy intention for ingredient brand and their internal relationship from the aspects of supplier resources and ingredient brand value Research finds different types of supplier resources have different effects on product core value and market strategic value of ingredient brand, and product core value and market strategic value of ingredient brand have positive effect on purchasers′ rebuy intention;that ingredient suppliers maintain the constant trade relationship with the buyer through implementing ingredient brand strategy needs to have a certain resource base, and this resource can create buyer′s perceived value. Therefore, supplier should allocate and manage different resources according to ingredient brand value type, and increase rebuy intention by transforming resource base into buyer's perceived brand interest. References | Related Articles | Metrics

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Research on Dynamic Evolution Process and Influence Factors of China′s Industrial Carbon Unlock WU Ge，ZHENG Zhe-bei，ZHOU Wu-qi 2017, 59(2): 43-49.  Abstract ( 95 )   Based on the decoupling theory, this paper quantitatively estimates and classifies the industrial carbon unlocking effect of 30 provinces in China, and analyzes the influence factors of carbon unlock in China and three regions by using STIRPAT panel data model. The results show per capita output, R&D investment proportion, energy efficiency and energy consumption structure have similar influence on industrial carbon emissions intensity from the national and regional perspective, wherein the energy efficiency has the maximum positive effect on inhibiting the carbon emissions intensity, per capita output comes second, the energy consumption structure has the maximum positive correlation; the R&D investment proportion of region III has a positive correlation with carbon emissions intensity, which is contrary to the expectation. One possible explanation is that the R&D investment is mainly used in the promotion of industrial growth,but not in energy-saving and emission-reduction. References | Related Articles | Metrics

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Dynamic Relevance between Copper and Aluminum Futures based on High-frequency Volatility ZHU Xue-hong1,2,CHEN Qiang1, CHEN Jin-yu1 2017, 59(2): 50-57.  Abstract ( 98 )   Based on the time-varying jump of high-frequency data, the one-minute closing price of copper-aluminum futures in Shanghai Futures Exchange from 2010 to 2015 is selected as sample data, and the realized variance (RV) of copper-aluminum futures high-frequency data is decomposed into continuous sample path variance (CV) and discrete jump variance (JV). The DCC-MVGARCH model is used to calculate the dynamic correlation coefficients between the continuous sample path variance and the discrete jump variance. The results show that there is an obvious positive correlation between the volatility of copper and aluminum futures, the correlation between CV and JV is significantly different in dynamic path, and the former correlation degree is much higher than the latter; under the shock of extreme events such as the European debt crisis, the dynamic correlation between CV and JV reaches to a high point to some extent. References | Related Articles | Metrics

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Why do the Large Shareholders Participate in Private Placement Actively? ——An Analysis based on Large Shareholders′ Stock Selling of Private WANG Li 2017, 59(2): 58-64.  Abstract ( 126 )   Taking 2006-2012 private placement events as context, the paper investigates large shareholders′ stock selling of private placement restricted shares, proving large shareholders getting excess income by their timing stock selling of private placement restricted shares is large shareholders′ main motivation to participate in private placement, the market timing ability is associated with their control-degree and influence ability to listed corporates, and their stock selling could encroach on small and medium-sized shareholders′ benefit. References | Related Articles | Metrics

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Companies Political Connections, Related Party Transactions and Enterprise Value ——An Analysis based on Mediating Effect and Moderating Effect ZHANG Ling, LI Hui-lan 2017, 59(2): 65-72.  Abstract ( 125 )   Based on the data of A-share listed company board, this paper analyzes the relationship among political connections, related party transactions and firm value from the perspective of the impact of political connections on enterprise behavior decision-making. Research showed that political connections and related party transactions have a significant negative effect on firm value, while political connections help to curb related party transactions, and the higher level of political connections, the more obvious this inhibition is; related party transaction adjusted the relationship between political connections and firm value, that is the larger the related party transactions scale, the stronger the negative effect; political connections have different impacts on firm value and related party transactions of stated-owned enterprises and private enterprises. References | Related Articles | Metrics

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Research on the Relationship between Resource Exploitation Intensity and Economic Development in Heilongjiang Province ZHANG Ye1,2,CHEN Ming3, LIU Ji-sheng2 2017, 59(2): 73-78.  Abstract ( 100 )   The paper uses Panel Data Model to analyze various index data in 1999-2013 of prefecture-level cities of Heilongjiang Province. The results show that there exists resource curse effect in Heilongjiang province, manufacturing investment and foreign investment have negative influence on economic development level and physical capital investment plays an important role in economic growth. This paper analyzes the transmission mechanism of this phenomenon and the differentiation of resource exploitation intensity and economic development level of Heilongjiang province,and takes Yichun city as an example to analyze emphatically. References | Related Articles | Metrics

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A Comparison of International Competitiveness of Manufacturing Industry between China and America——An Analysis based on GVC-Participation Index and GVC-Position Index LI Yuan,JIN Dian-chen 2017, 59(2): 79-87.  Abstract ( 145 )   Based on WIOD database, this paper estimates the value-added exports, GVC-Participation Index and GVC-Position Index of the total manufacturing industry and three kinds of manufacturing industry (low, medium, medium and high -tech industries) between America and China from 1995 to 2011. The results show (1)the customs and value-added exports of manufacturing industry in China have gained rapid development, and low technology manufacturing exports account for the highest proportion of total exports, however, medium and high technology manufacturing exports have begun to exceed low technology manufacturing exports in recent years; exports of manufacturing industry in America also increase constantly,though the growth rate of exports is lower than China, its high technology manufacturing exports account for the highest proportion of total exports. (2) The GVC-Participation Index of Chinese manufacturing industry shows a rising trend, and the high technology manufacturing industry′s GVC-Participation Index is the highest; at the same time, the GVC-Participation Index of American manufacturing industry is also gradually increasing, and the low technology manufacturing industry′s GVC-Participation Index is the highest. (3) Total manufacturing and there kinds of manufacturing industry′s GVC-Position Index of China are much lower than those of America,being in the downstream position of the global value chain. References | Related Articles | Metrics

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Research on the Relationship between FDI and Inbound Business Tourism in Jiangsu，Zhejiang and Shanghai BAO Fu-hua1,ZHU Mei-ning2,LI Wen-zheng3 2017, 59(2): 88-95.  Abstract ( 94 )   Based on the hypothetical model of FDI and inbound business tourism, foreign enterprise quantity, foreign direct investment and overseas business tourism time series data in Jiangsu，Zhejiang and Shanghai from 1994 to 2014 are chosen as the research objects to analyze the interaction relationship and difference between FDI and inbound business tourism by using the co-integration analysis, Granger Causality Test and Elastic Coefficient. The research showed that：there is a long-term stable equilibrium relationship and short-term dynamic adjustment relationship between FDI and inbound business tourism; there exists reciprocal causation relationship between the number of foreign enterprises and the IBT in Jiangsu and Zhejiang, and foreign investment is the single Granger reason for IBT; foreign investment and the IBT are reciprocal causation relationship in Shanghai, IBT is the single Granger reason for the number of foreign enterprises;the driving effects of IBT on the number of foreign enterprises are less than those of foreign investment on IBT; the interaction driving effects between FDI and IBT presents the development trend of Shanghai>Jiangsu > Zhejiang，which is closely related to the investment environment and development model of the three regions. References | Related Articles | Metrics

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Whether the Application System can Restrain the Implementation of Anti-dumping? HAO Liang 2017, 59(2): 96-101.  Abstract ( 76 )   According to the WTO anti-dumping code, the anti-dumping investigation should meet the requirements of the application system. This paper constructs a dynamic game model of anti-dumping duty to discuss the effect of application system on the implementation of anti-dumping measures. The research shows that to the competitive domestic industry, if the marginal cost of the domestic firm is higher than that of the foreign firm, the application system will certainly restrain the implementation of anti-dumping; if the marginal cost of the domestic firm is equal to or lower than that of the foreign firm, the application system will not restrain the implementation of anti-dumping. Therefore, the reconstruction of the application system should be an important aspect of the future revision of the WTO anti-dumping code, and should use the coordination role of industry association to launch anti-dumping application. References | Related Articles | Metrics

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Research on Energy Cooperation Risk between China and Eurasian Economic Union Members ZHANG Jin-ping，XIANG Yi-jun 2017, 59(2): 102-107.  Abstract ( 90 )   International energy cooperation is an important engine of Silk Road Economic Belt construction. Eurasian Economic Union members are the important partners along the Silk Road Economic Belt. Bilateral energy cooperation is in line with the common political and economic interests and helps to eliminate regional security hidden danger. The energy trade and geographical advantages are the precondition of mutual energy cooperation. China′s abundant capital and advanced technology in energy exploration，mining，processing are the solid foundations of energy cooperation. However,from the current cooperation situation，there are still a series of risks，such as countries interests difference，energy politicized，and so on. Therefore，we should analyze the root causes of energy cooperation risk from the economic，political，social and historical point of view，and put forward policy suggestions avoiding these risks. References | Related Articles | Metrics

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A Study of the Joint-distribution Game between Big and Small Scale Retailers under Fuzzy Demand HE Ming-ke, WANG Ze-peng, TU Chao 2017, 59(2): 108-117.  Abstract ( 76 )   This paper considers the different impacts caused by different guiding manners of government departments, builds the payoff matrix between big and small scale retailers, and uses game theory to analyze key factors which will affect the cooperation result and the fee of cooperative distribution. At the same time, it uses modified Shapley value model to study the benefit allocation issue of big scale retailers, and puts up with recommendations to develop cooperative joint-distribution to deeply improve joint-distribution system and current situation of retailers′ distribution. References | Related Articles | Metrics

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Managerial Experience, Power and Strategy Learning across Enterprises ——An Analysis based on the Perspective of Knowledge Transfer XIE He-feng1,LIU Zi1, MOU La-chun2 2017, 59(2): 118-125.  Abstract ( 118 )   Executives′ experience and knowledge are the core resources for enterprises. Based on the perspective of knowledge transfer，the paper tests the effects of executive′s flow across enterprises on strategy learning between enterprises，as well as the moderating effect of the migrated executive′s power. The results of the research show that executive′s flow across enterprises is beneficial to strategy learning between enterprises, and the migrated executive′s power significantly moderates the relationship between managerial experience and strategy learning of the current enterprise. References | Related Articles | Metrics

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Research on CFO Tournament Incentives and Corporate Tax Aggressiveness MA Xiao-min, QI Huai-jin 2017, 59(2): 126-132.  Abstract ( 102 )   How to motivate management to maximize the value of the enterprise is the key part of corporate governance. The paper examines the relation between promotion-based tournament incentives of chief financial officer (CFO) and corporate tax aggressiveness based on the data of A- share listed companies in China in 2009-2015, finding the greater the incentive for CFO to be given to the tournament, the greater the degree of corporate tax aggressiveness; compared to non-state owned enterprises, the effect of state owned enterprises′ tournament incentive on tax radical degree is more obvious. References | Related Articles | Metrics

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The Effects of Organizational Suggestion Schemes on Employee Openness to Change ——An Analysis based on Conservation of Resources Theory and Social Exchange Theory ZHAO Wen-wen,ZHOU Yu,FAN Xue-qing 2017, 59(2): 133-142.  Abstract ( 101 )   Drawing on conservation of resources theory and social exchange theory, this paper carries out cross-level analysis of 1282 employees in 127 firms to explain the effects of suggestion schemes on employee openness to change. The results show that as an important form of employee involvement, suggestion schemes is positively related to employee openness to change; the influence of suggestion schemes on openness to change can be mediated by job insecurity and organizational affective commitment; task self-efficacy can moderate the relationship between suggestion schemes and openness to change, and the interaction can be mediated by job insecurity; dissatisfaction with status quo can adjust the relationship between organizational affective and openness to change. References | Related Articles | Metrics

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Concurrent Project Optimal Steel Procurement Strategy in Construction Engineering LI Yong-quan1，ZHANG Shuang-mei1，YANG Kang2 2017, 59(2): 143-150.  Abstract ( 88 )   Taking the concurrent project multi-period steel procurement problem as the research project, this paper establishes steel price time series prediction model through the stationarity test, pure random inspection and seasonal analysis processing by selecting the increasing steel historical price data in a certain period as sample. Then combining steel ordering cost with financing cost in an order model, the paper finally gets optimal strategy for concurrent project multi-period steel procurement strategy. Research results show that the prediction model and purchasing model can solve concurrent project multi-period steel procurement and inventory problems under the condition of increasing prices, and compared with other strategies, the corresponding purchasing storage strategy can save cost under the condition of different financing rates. References | Related Articles | Metrics

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Coordinating Contract between Fresh Agricultural Products E-business Enterprise and Logistics Service Provider——An Analysis based on Fresh Agricultural XU Guang-shu, SONG Zi-long 2017, 59(2): 151-159.  Abstract ( 93 )   In the case of fresh agricultural products home delivery mode, this paper considers a two-echelon supply chain consisting of fresh agricultural products e-business enterprise and logistics service provider and takes the influence factors of market demand into consideration, including fresh agricultural products sales price,freshness and delivery timeliness, service attitude of logistics service provider. And game model is used to analyze the common contract cannot effectively coordinate the supply chain. Then a combined contract is designed, including logistics distribution cost quantity discount contract, cost sharing contract and revenue sharing contract. When the contract coefficient satisfies certain conditions, the combined contract can effectively coordinate fresh agricultural products sales price, the level of fresh-keeping effort, the level of logistics service and the distribution quantity of logistics service provider, and can realize the optimization of system profit, achieving optimal system profit and the Pareto improvement of bilateral profits. References | Related Articles | Metrics

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Scheme Design of Personalized Service of Tourism Mobile E-commerce GAO Jing, ZHONG Ruo-nan, WU Hong 2017, 59(2): 166-171.  Abstract ( 122 )   As a new business model, the integration of mobile e-commerce and tourism accelerates the development of tourism mobile e-commerce. How to create a good user interface through the Internet to better meet tourist convenience and interactivity has important significance for improving tourist satisfaction and enhancing the competitiveness of enterprises. Based on the tourism mobile e-commerce environment and starting from connotation and characteristics of the personalized service of mobile tourism electronic commerce, the paper puts forward the basic process of personalized service, the design scheme and implementation path of service content through constructing a conceptual model affecting personalized service factors of tourism mobile e-commerce in order to provide guidance for the development of tourism mobile e-commerce. References | Related Articles | Metrics

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The Inhibitory Role in House Wealth Effects by Housing Mortgage XIE Mian-bi, YAN Zheng 2017, 59(2): 172-176.  Abstract ( 89 )   By using the micro household financial data from China Household Finance Survey and the analytical method of group regression with debt leverage ratio, this paper analyzes the impacts of housing debt on household non-discretionary spending reflecting housing wealth effects. The research finds that household non-discretionary spending is the most sensitive to the change of household permanent income, and then with household population, housing value and finance asset in turn; the housing wealth effect of the household without housing debt or with lower housing debt ratio is significant, while that of the household with higher housing debt ratio is not significant, and has tended to become relative poor recently. References | Related Articles | Metrics

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Research on the Coupling Coordinated Development of Urban Agglomeration Industrial Undertaking Capacity and Ecological Environment FU De-shen1,2，XIANG Li1,3 2017, 59(2): 177-184.  Abstract ( 86 )   The paper takes 41 prefecture-level cities in the midwest urban agglomeration as the research samples to construct the evaluation index system of coupled system capacity and ecological environment, and adopts variation coefficient method, comprehensive development level evaluation model and coupling coordination model to empirically analyze industrial undertaking ability and coupling coordination of ecological environment and its evolution characteristics in 2009-2013. The results show that the industrial undertaking capacity of city group and ecological environment coordination degree is generally low, appearing mild disorders, moderate disorders and serious disorders; the overall undertaking coupling ability of industrial city group and ecological environment coordination degree show steady temporal variation characteristic in the study period with the development of the city, but there is obvious time difference between different industrial undertaking capacity and ecological environment coordination degree,and there exists the spatial distribution pattern of “middle high and west low” between industrial undertaking ability of city group and ecological environment coupling degree. References | Related Articles | Metrics

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Farmer Cooperatives Owernship Concentration: the Higher the Better? ——Based on the Consideration of Reality and Legal ZENG Hao1,ZHANG Zheng-hua2 2017, 59(2): 185-192.  Abstract ( 113 )   Based on the cross-section data of 86 farmer cooperatives in China in 2014, the paper utilizes Principal Component Analysis (PCA) to estimate the samples′ performance, analyzes the relationship between ownership concentration, as well as other variables, and the farmer cooperatives′ performance by the Ordinal Regression Model(ORM). The result of the PCA indicates the farmer cooperatives′ performance shows oval-shaped, the higher ownership concentrations brings about better performance, while ownership balance degree has a significant negative correlation with farmer cooperatives′ performance. References | Related Articles | Metrics