What Makes Firms Competitive? States,Markets, and Organisational Embeddedness in Competitive Firm Restructuring in Postsocialist Economies

The prevailing transitions literature suggests that dynamic firms in postsocialist economies are the result of macroinstitutional reforms leading to the making of markets. This article builds on work in comparative political economy and economic sociology to show that the degree of competitive behaviour of postsocialist firms is determined not by the existence of general market institutions alone but by the kinds of organisational allies firms possess and the kinds of markets they compete in. Using firm survey data across 28 postsocialist economies, the article examines the determinants of competitive restructuring by firms, including product innovation, standards upgrade, financial transparency, and investments in research and development. The article confirms insights from comparative political economy which suggest that dynamic enterprise sectors emerge when governance is effective. However, at the firm level, the article finds that transnational ties and supportive policy environments are most significant in the making of dynamic postsocialist enterprises. The article also highlights important regional variation in firm behaviour and discusses the relationship between institutional frameworks, organisational embeddedness, and firm restructuring in postsocialist economies.     

Demystifying residents' walking behaviors: Active transport in South East Queensland,Australia

This study investigates the correlates of a resident's walking behaviors and aims to shed light on mechanisms through which walking may be encouraged. The results of this investigation paint a complex and nuanced picture of the residents’ walking behaviors in South East Queensland, Australia. The results suggest that sociodemographic characteristics separately may contribute greatly to whether or not one engages in walking behaviors. Further, cumulatively these differences might be greater for some groups of residents compared to others. One of the most prominent findings of the study is that the purpose, the characteristics of the origin, and the characteristics of the destination of a trip tended to be similar in the heterogeneity they exhibit over the distribution of time spent walking. For example, pick something up, undertake work, or engage in personal business, move to or from a workplace, shop, or social place are activities that tend to be associated with walking as a main mode of transport and a higher number of walking episodes. However, these trips tended to be short.     

普惠金融与县域资金外流：减贫还是致贫*——基于中国592个国家级贫困县的研究

本文利用全国592个国家级贫困县的数据，采用空间计量模型实证分析了普惠金融对县域资金外流的影响，并验证了贫困县资金外流是否会产生致贫效应。本文研究发现：如果普惠金融只注重解决贫困地区对金融机构的接触性排斥，会进一步加剧资金外流，对减贫产生负向影响，即存在显著的致贫效应。这种致贫效应具有明显的空间外溢性，邻近县域的贫困状况在很大程度上会彼此“传染”，并具有空间衰减特征的地理边界。因而需要客观认识普惠金融的本质，有针对性地选择恰当有效的实施载体，解决好对信贷产品等关键金融服务的使用性排斥问题。     

Economic Impacts of the Possible China–US Trade War

This article uses a multi-country global general equilibrium (GE) model to numerically simulate the effects of possible China–US trade wars. We introduce an endogenous trade imbalance structure with trade cost into the model which helps to explore both tariff and non-tariff trade war effects. Our simulation results show that China will be significantly hurt by the China–US trade war, but negative impacts are affordable. The US can gain under unilateral sanction measures to China, but will lose if China takes retaliation measures. Comparing the effects under mutual trade war, China will lose more than the US. Introducing non-tariff barrier trade wars will intensify the negative effects, and comparatively negative effects to China are larger than to the US. Mexico’s involvement in trade war with the US will strengthen the negative effects and comparatively hurt the US more. Under non-cooperative and cooperative Nash bargaining equilibrium, the US can gain more than China in trade war negotiation, which means the US has stronger bargaining power than China. Additionally, trade wars between China and the US will hurt most countries and the world especially in GDP and manufacturing employment, but benefit their welfare and trade.     

家族控制与企业创新投入

家族企业对社会情感财富目标的追求是其区别于非家族企业的重要特性，社会情感财富目标与企业经济利益间冲突对企业R&D投入的影响不容忽视。以社会情感财富为理论基础，基于573家上市家族企业2011-2015年的面板数据，分析受市场化程度影响时，家族涉入情境下信息透明度对企业R&D投入的影响。结果显示：信息透明度可以有效缓解信息不对称和代理冲突，促进企业R&D投入；家族控制对R&D投入有消极影响；当企业信息透明度较高时，会抑制家族所有者为个人谋取私利的动机，进而增强其对企业R&D投资的积极作用。在市场化程度更高、产权保护力度较大的地区，信息透明度会缓解家族控制权对R&D投入的消极作用。     

颠覆性创新四阶段扩散过程模型

基于颠覆性创新、创新扩散、创新模糊前端等相关理论，从全流程角度创新性地构建了颠覆性创新四阶段扩散过程模型，包括颠覆性创意产生、颠覆性创新产品开发、侵蚀非主流市场、占据主流市场4个阶段，各阶段之间相互关联、循环往复，并受到技术、市场、政策、竞争等外部环境因素影响。选取液晶电视机和山寨手机作为高端和低端两个颠覆性创新典型案例，通过对其进行验证性分析，构建具体的高端与低端颠覆性创新四阶段扩散过程模型。     

政府研发补贴促进企业创新了吗

政府补贴能否促进企业创新一直存在争议。与以往从资源视角探讨政府补贴与企业创新关系的研究不同，基于信号理论视角，以2012—2016年沪深A股非金融类上市公司为研究样本，通过剔除非研发补贴的噪音并控制样本自选择偏误，实证检验中国转型经济背景下，政府研发补贴对企业创新的微观政策效应，以及企业层面制度因素（产权性质）和区域层面制度因素（制度环境）对该效应的调节作用。研究发现，政府研发补贴释放的积极信号能够帮助企业获取外部创新资源，有效促进企业创新；相比于国有企业，政府研发补贴对非国有企业创新的激励效应更强；制度环境越好，政府研发补贴对企业创新的激励效应越强。研究理论丰富了科技创新政策有效性和信号理论相关研究。同时，研究发现，政府应继续加大对企业创新活动的补贴额度，不断深化所有制改革，为企业创新营造良好的外部制度环境；另外，企业还应充分发挥政府研发补贴信号的杠杆效应，拓宽外部创新资源获取渠道。     

Institutional investors and international investments in emerging economy firms: A behavioral risk perspective

While the extant literature has examined the influence of controlling and non-controlling principals on the internationalization decisions of emerging market firms, heterogeneity among non-controlling principals is largely ignored. The risk characteristics of different groups of owners, shaped by their institutional environments, could contribute to the differences in their preferences for firm internationalization. In this paper, we draw insights from institutional theory and behavioral risk perspective to examine the risk propensities and risk perceptions of various non-controlling principals, such as pressure-resistant (FIIs and mutual funds) and pressure-sensitive (banks, insurance companies and lending institutions) institutional investors. Empirical results from a sample of 2364 unique Indian firms during the 2005–2014 time-period show that, after controlling for firm-level resources and capabilities identified in prior literature, the ownership share of different types of institutional investors is associated with firms’ international investments differently. While pressure-sensitive institutional investors, such as banks and insurance companies, are not supportive of foreign investments by firms, pressure-resistant institutional investors, such as FIIs and mutual funds, are supportive of this strategic decision. Furthermore, our results show that the family ownership in a firm (measured in terms of family shareholding) further lowers the preference of pressure sensitive institutional investors for internationalization, whereas family ownership positively moderates the pressure resistant investors towards internationalization.     

Consumers’ luxury restaurant reservation session abandonment behavior during the COVID-19 pandemic: The influence of luxury restaurant attachment,emotional ambivalence,and luxury consumption goals

The purpose of this research is to examine how consumers’ attachment to luxury restaurants and their emotional ambivalence contribute to their reservation session abandonment during the coronavirus disease 2019 (COVID-19) pandemic. In addition, the moderating effect of luxury consumption goals (e.g., self-presentation motives, status consumption, and need for uniqueness) is examined. A total of 408 participants completed questionnaires, and the results reveal that luxury restaurant attachment significantly influences consumers’ emotional ambivalence, which in turn causes them to not complete their reservation sessions. Furthermore, the moderating effects of status consumption and need for uniqueness are supported.     

To look tasty,let's show the ingredients! Effects of ingredient images on implicit tasty–healthy associations for packaged products

This study investigates the effect of ingredient images on implicit tasty–healthy associations for packaged products. An implicit association test (IAT) with 106 respondents reveals the impact of repeating ingredient images on the implicit healthy = tasty intuition; fewer ingredient images are linked to a stronger intuition. This study also considers explicit product packaging preferences and the number of ingredient images depicted. The implicit intuitions affect explicit preferences, such that packages depicting few ingredient images are preferred over those depicting many ingredient images for healthy products, but no significant effects emerge for unhealthy products.