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2024 Volume 43 Issue 1  Published: 2024-01-10
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    Macro Technology Economics
  • Xiangjun Li , Qiao Xu
    doi: 10.12404/j.issn.1002-980X.J23060806

    Based on the panel data of 35 large and medium-sized cities in China from 2008 to 2016, Tobit model and input-oriented data envelopment analysis (DEA) method was used to explore the impact of urban housing sales price on urban total factor productivity. It is found that in the overall dimension, the urban housing price and urban productivity present an inverted U-shaped curve, which increases first and then decreases. The urban housing price level exceeds the maximum critical value of "Houses are for living in, not for speculation", and the inhibiting effect of housing price rise on urban total factor productivity is significant. The effect of housing price on the productivity of cities with different population sizes is heterogeneous. When the city population size reaches the standard of the very large-sized city, the housing price and urban productivity show an inverted U-shaped feature, and when the city population size reaches the standard of the super large-sized city, the inverted U-shaped feature of housing price and urban productivity disappears. The inverted U-shaped relationship between housing prices and urban productivity in different types of cities and the heterogeneity of cities indicate that China's large and medium-sized cities should carry out the fine adjustment of housing prices, and the policy positioning of "Houses are for living in, not for speculation" has a solid theoretical basis and practical necessity.

  • Macro Technology Economics
  • Xiaoyong Qiao , Xiao Wei , Tingyu Hou
    doi: 10.12404/j.issn.1002-980X.J23072010

    The key indicators of product correlation reflecting information friction and social network analysis method was used to discuss the effect of product correlation on the export of differentiated products in China. The results show that higher product correlation degree can weaken information friction and promote the export of differentiated products in China. Under the liberal taxonomy, GVC production activities provide an important foundation for improving the efficiency of technology and information transfer. Under the conservative taxonomy, the difference of classification methods will lead to a "product transfer effect" on the impact of information friction on Chinese exports. Betweenness centrality has a more significant promoting effect on the export of differentiated products in China. It reflects the higher control ability of network resources, the stronger control ability of information transmission, and the greater hub function of network operation efficiency, which is more conducive to the export of products. Geographical distance in traditional gravity model and product correlation reflecting information friction are both important factors affecting current international trade.

  • Industrial Technology Economics
  • Wen LI , Yue DU
    doi: 10.12404/j.issn.1002-980X.J23073006

    Academic entrepreneurship spans two different environments, academic and industrial. Therefore, academic entrepreneurs often shoulder the roles of scholars and entrepreneurs. Their social capital and perception of role conflicts will have a certain impact on the entrepreneurial process. Based on the theory of resource conservation, the expansion strengthening hypothesis, and the resource-based theory, a model was constructed to integrate the perception of role conflicts among academic entrepreneurs and the inertia of social capital on the acquisition of entrepreneurial resources and entrepreneurial performance. The moderating role of enterprise participation in this process was explored in depth. Based on the empirical data of 394 academic entrepreneurs, and using multiple regression analysis methods to conduct empirical testing, the results indicate that role conflict perception has a significant positive impact on resource acquisition and entrepreneurial performance. Social capital inertia has a significant negative impact on resource acquisition. Meanwhile, resource acquisition has a significant positive impact on entrepreneurial performance, and scholars' level of corporate participation positively moderates the relationship between role conflict perception and entrepreneurial performance. The above research results enrich the relevant research on the dual role of academic entrepreneurs from a subjective perception perspective, and also provide practical guidance for scholars who have entrepreneurial ideas or are already in the entrepreneurial process.

  • Industrial Technology Economics
  • Yangjun Ren , Ze Tian , Chao Liu , Fangrong Ren , Xinge Guan
    doi: 10.12404/j.issn.1002-980X.J23070101

    Digital transformation has given enterprises new development momentum, which further affects the business performance of private energy enterprises and the achievement of their green and low-carbon transformation goals. Based on the data of Shanghai and Shenzhen A-share listed private energy enterprises from 2012 to 2021, the keywords of "digital transformation" was collected in the annual reports of enterprises with the help of crawler technology, innovatively portraying the degree of digital transformation of private energy enterprises and empirically examining the impact of digital transformation on the performance of private energy enterprises. The results indicate that digital transformation significantly improves the performance of private energy firms, and this finding remains valid after a series of robustness checks. In terms of channel paths, digital transformation can drive technological innovation and improve operational capabilities, all of which contribute to the performance growth of private energy firms. For different firms, the driving effect of digital transformation on the performance of private energy firms has strong asymmetric characteristics. Specifically, the enhancement effect is more significant for eastern firms, large firms, growing firms, and new energy firms. For the central and western firms and small firms, the performance driving effect of digital transformation is the least significant.

  • Enterprise Technology Economics
  • Hongcheng Ling , Xiaohong Ling
    doi: 10.12404/j.issn.1002-980X.J23082105

    How to take the new industrial green innovation development road has become an important practical problem. The development of qualified foreign institutional investors (QFII) has become an important choice due to the information asymmetry and agency problems between capital supply and demand in the process of green technology innovation. Based on the relevant data of China's A-share listed companies from 2010 to 2020, the impact path and mechanism of QFII shareholding on enterprises' green technology innovation was studied. The results show that QFII shareholding has a positive driving effect on enterprises' green technology innovation, and QFII shareholding significantly improves enterprises' green technology innovation level through enhancing social responsibility and improving environmental protection investment efficiency. Both restrictive and incentive environmental regulations can produce positive regulatory effects between QFII shareholding and green technology innovation. It opens up a new incentive mechanism for improving the green technology innovation ability of Chinese enterprises, and provides a certain theoretical and empirical basis for the reform of China's QFII system and the improvement of enterprises' innovation performance.

  • Enterprise Technology Economics
  • Xiumin Li , Zishuo Chen , Yaqi Chen
    doi: 10.12404/j.issn.1002-980X.J23082707

    As an important component of the "Digital China" strategy, whether enterprise digital transformation can bring positive financial returns has become a key concern in the industry. Using Chinese A-share listed companies from 2010 to 2022 as the research sample, the quantity of digital technology patents held by listed companies was innovatively employed to measure digital transformation. The impact mechanisms of digital transformation on financial performance were meticulously analyzed. It is found that digital transformation can effectively enhance financial performance, and this conclusion still holds after rigorous testing. Financial performance is improved through digital transformation by increasing operational efficiency, optimizing internal governance, reducing operational risks and information asymmetry, and alleviating financing constraints. The higher the degree of transformation for large enterprises, the stronger the promotion of financial performance. Whether achieved through independent research and development or introduction methods, digital transformation significantly promotes financial performance. However, for small and medium-sized enterprises, there exists an inverted U-shaped relationship between digital transformation and financial performance, with the introduction method proving more effective in enhancing financial performance. For companies in financial distress and highly competitive environments, the promotional effect of digital transformation on their financial performance becomes more pronounced. Furthermore, the more favorable the external environment in which a company operates, the stronger this promotional effect becomes.

  • Enterprise Technology Economics
  • Qi Chen , Jiamin Wang
    doi: 10.12404/j.issn.1002-980X.J23081002

    Central environmental protection inspector is a major reform measure in the field of environmental protection in China in recent years, which is not only conducive to improving the level of environmental governance, but also has an impact on the decision-making of resource allocation of micro-enterprises. Drawing upon data from Chinese A-share listed industrial enterprises in Shanghai and Shenzhen from 2012 to 2021, an empirical examination was conducted to investigate the influence of central environmental protection inspectors on excessive financialization of enterprises by using multi-period double difference method. The result shows that the central environmental protection inspector can inhibit the excessive financialization of enterprises. The test of influence mechanism shows that the central environmental protection inspector inhibits the excessive financialization of enterprises by improving the green investment of enterprises. Heterogeneity analysis shows that the central environmental protection inspector has a stronger inhibitory effect on excessive financialization of enterprises in enterprises with high financing constraints, executives without public working experience and enterprises in areas with high public environmental concern. The test of economic consequences shows that the central environmental protection inspector improves the performance of enterprises by restraining excessive financialization of enterprises. The research conclusion analyzes the mechanism of macro-environmental policy on micro-enterprise resource allocation decision, which has certain practical significance for achieving a win-win situation of environmental governance and economic development.

  • Technology Economics Management
  • Guohong Wang , Xiangyu Yue , Hao Huang
    doi: 10.12404/j.issn.1002-980X.J23091309

    Using A-share listed companies from 2009 to 2022 as research samples, an empirical examination was conducted to investigate the impact of digital transformation on organizational resilience in different environments with varying levels of uncertainty. The heterogeneity characteristics, the mediating mechanisms of organizational innovation, the moderating effects of environmental uncertainty, and the moderated mediation model were explored. The findings are as follows. Digital transformation has a significant positive impact on both the stability and flexibility dimensions of organizational resilience. Corporate innovation output partially mediates the effects of digital transformation on organizational resilience. Environmental uncertainty can moderate the baseline effects between digital transformation and the stability and flexibility of organizational resilience. Environmental uncertainty can moderate the first half of the mediating effects, indicating that the stronger the environmental uncertainty faced by the company, the more digital transformation can promote organizational innovation output. At the same time, environmental uncertainty can also moderate the second half of the mediating effects on the stability of organizational resilience. Thus, with the increase in organizational innovation output, the stability of organizational resilience will be greatly improved as the environmental uncertainty faced by the company becomes stronger.

  • Technology Economics Management
  • Mingjie Zhou , Xinbo Sun , Mingchao Zhang
    doi: 10.12404/j.issn.1002-980X.J23071201

    Existing research on digital product innovation mainly focuses on digital-native product innovation. However, the vigorous development of various digital technologies has provided conditions and possibilities for traditional manufacturing enterprises to innovate and design traditional physical products into digital products. Based on the exploratory single case study of Haier Smart Home, the realization mechanism of innovatively designing traditional physical products into digital products was deeply analyzed. The research found that the innovative design of traditional physical products goes through three stages for digital products: "judging emerging digital product design trends-creating digital products -shaping the market's understanding of digital products". By promoting the connection between digital and real, enterprises play the role of digital empowerment and support the digital reconstruction of traditional physical products. The essence of the innovative design of traditional physical products as digital products is the digital reconstruction of the product framework, which is reflected in the process of "frame emerging-frame integration-frame giving". In the process of innovative design of traditional physical products, digital technology plays the roles of environment, component and symbol respectively to support re-examination, redesign and redefinition. The research contributes to theoretical issues in the field of emerging digital product innovation, and provides practical inspiration for guiding traditional entity enterprises to build digital product advantages.

  • Technology Economics Management
  • Yongchang Qiang , Hongai Yang
    doi: 10.12404/j.issn.1002-980X.J23062310

    Based on the data of CSMAR from 2003 to 2021, the effect and mechanism of globalization on executive compensation was investigated. The results indicate that globalization has a positive influence on executive compensation. Furthermore, the coefficients of interest pass multiple robustness tests. In addition, further research shows that globalization mainly affects executive compensation through the governance of independent directors while the role of market mechanisms is limited. Thirdly, the heterogeneity test indicates that the impacts of globalization on executive compensation are heterogeneous across different industries, such as monopolistic industry and non-monopoly industry, different firms, such as state-owned enterprises and privately owned enterprises. Besides, power executives benefit more from globalization than other people, which means that as globalization progresses, inequality among executives is rising. Our findings provide new evidence that globalization has a positive impact on executive compensation in China, and help enrich the literature in the field of international trade and top income distribution.

  • echnology Economics Evaluation
  • Meng Zhang , Zhiling Wang , Yucheng Zhang , Ling Ma , Jing Li , Zhongwei Hou
    doi: 10.12404/j.issn.1002-980X.

    Meta-analysis, as an essential research tool, has been widely applied in various scientific fields such as medicine, management, education, and psychology. With the continuous development of statistical techniques, traditional meta-analysis has gradually derived a large number of advanced research methods. To help researchers and practitioners promptly capture and comprehend the current state of meta-analysis, it aims to comprehensively explore the principles, applications, and latest developments of meta-analysis. First, the fundamental principles, historical development and operational procedures of traditional meta-analysis was extensively examined. Secondly, advanced research methods derived from traditional meta-analysis was deeply discussed, including Multilevel meta-analysis, meta-analytic structural equation modeling, second-order meta-analysis, causal based meta-analysis and replication research. Finally, the significance and limitations of meta-analysis in scientific research was discussed. In sum, it provides researchers with a comprehensive overview of the meta-analysis, helps researchers identify its development trends and potential problems, and further aims at improving the method to adapt to changing research needs.

  • echnology Economics Evaluation
  • Lei Pang , Xiaolei Chen
    doi: 10.12404/j.issn.1002-980X.J23052903

    China's economy is in a critical period of growth dynamics switching as the growth rate shifts to a high-quality development stage. Based on China's inter-provincial panel data from 2000 to 2022, focuseing on the issue of China's economic growth momentum switching, the spatial and temporal evolution of economic growth momentum switching and the "double threshold" effect was explored. The results show that productive labor, R&D labor, production inputs, and R&D inputs significantly contribute to China's economic growth. China's growth momentum switching has experienced the "productive labor and production inputs", and "R&D labor and production inputs", and "R&D labor and production inputs", and "R&D labor and R&D input". The spatial and temporal evolution of China's economic growth dynamics has regional heterogeneity and time heterogeneity, and there are significant differences in economic growth dynamics between different regions and time periods. the switching of China's economic growth dynamics is subject to external constraints, and there exists a "double-threshold" effect. At the same time, it uses the main experiment to add control variables before and after the comparison, bilateral shrinking tails, excluding the impact of epidemics and propensity score matching to conduct robustness tests, and finds that the empirical results are robust. This study helps to understand the mechanisms, paths and constraints of switching economic growth dynamics, and provides a reference basis for formulating corresponding policies and strategies.

  • echnology Economics Evaluation
  • Shijiao FANG , Ke ZHANG
    doi: 10.12404/j.issn.1002-980X.J23081108