Quality-oriented growth: a new trend for Chinese firms |
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Authors: | Tang Li Pingtian Wang Xingyan Liu |
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Institution: | 1. Institute of Quality Development Strategy, Wuhan, P.R. China;2. Macro-quality Management Collaborative Innovation Center in Hubei Province, Wuhan, P.R. China;3. China Enterprise Survey and Data Center, Wuhan, P.R. China |
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Abstract: | ABSTRACTBased on data from the China Employer-Employee Survey (CEES), this study analyses the actual effect of quality-driven growth on firms’ performances in the economic transition of recent years. The results show positive and significant effects between the firms’ performance and quality-oriented growth, which is defined as a strategy that supports the spirit of greater entrepreneurial innovation, the advancement of input quality, and corporate governance improvement. Using a quality-driven growth mode, firms can effectively relieve the adverse effect of downward macroeconomic growth pressure on performance. This study proposes that China’s macroeconomic policy should shift from demand-oriented management to supply-oriented management, with a particular focus on quality development strategy. Moreover, firms should establish a quality-driven development strategy, facilitating a spirit of entrepreneurial innovation, advancing input quality, and improving corporate governance. This strategy will increase the firm’s performance, and effectively relieve the macroeconomic downward pressure.Abbreviations: CEES: China Employer-Employee Survey, TFP: Total factor productivity |
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Keywords: | Quality-oriented growth performance a spirit of entrepreneurial innovation input quality corporate governance |
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