How does green entrepreneurship affect environmental improvement? Empirical findings from 293 enterprises

Enterprises tend to change their production and emission behaviours to foster green entrepreneurship under endogenous innovation development pressure and exogenous environmental regulation. This research innovatively establishes a theoretical framework on the dual dynamic linkage of environmental regulation and green entrepreneurship. Based on the sample data of 293 thermoelectric industry enterprises during 2017–2020, this empirical research first measures green entrepreneurship with the entropy method and finds that Zhejiang has cultivated green entrepreneurship at a primary level. Green entrepreneurship witnessed growth from 2016 to 2019. The dynamic regression identification then validates the stimulatory effect of environmental regulation on green entrepreneurship cultivation through internal competitiveness enhancement. Finally, with the application of the triple difference method (DDD), this research verifies that green entrepreneurship is positive in cultivating technological innovation and significantly facilitates environmental regulation to achieve better regulation effects through overall enterprise pollution emissions, total sulfur dioxide emissions, and total nitrogen oxide emissions. It is necessary to coordinate all aspects to cultivate green entrepreneurship and green growth in the future.

     

Work–life management tensions in multinational enterprises (MNEs)

Global work–life initiatives present unique challenges for HR departments in multinational enterprises (MNEs) because of the complexity of implementing policies that require sensitivity to local issues such as cultural traditions and legislation. A tension-centered approach to analyzing these complexities, not utilized in previous research on the topic, is applied here. Three generic sources of tensions are developed: strategic/policy versus operational considerations, centralization versus decentralization and contextual/institutional versus organizational demands. Earlier research yields four potential responses to tensions: opposition, spatial separation, temporal separation and synthesis, with a fifth option added for no recognition of tension. The framework is applied to global work–life initiatives using data from 27 qualitative interviews with regional and global HR managers employed by 13 MNEs. There is evidence supporting the prevalence of each of the three generic sources of and five responses to tension, and of overlap across categories and responses. For managers, the analysis provides useful insights for constructing global work–life initiatives that are effective and responsive to local conditions. For researchers, the tensions approach yields a relevant tool for analyzing global work–life initiatives. For both, the findings suggest it is important to guard against biases related to Western notions of progress.     

Micro- and small-sized enterprises’ willingness to borrow via internet financial services during coronavirus disease 2019

This paper explores the relationships among micro- and small-sized enterprises’ (MSEs) willingness to borrow from internet financial services (IFS) and the related impacts of coronavirus disease 2019 (COVID-19) and then analyses the mediating effects of their beliefs on the advantages and disadvantages of IFS. We further analyse the differences produced by the moderator effects of MSEs’ enterprise variables (sector, operating years, entrepreneur's education, profit margin, and employee number) on the above relationships. We collected 632 valid reports by developing an online questionnaire in China and employing judgement sampling of MSEs with fewer than 50 employees and annual operating income less than RMB 5 million. Then, we analysed the findings with partial least squares structural equation modelling. The results show that COVID-19 significantly impacted most Chinese MSEs and that most Chinese MSEs tend to borrow via IFS, but the amount and period of MSEs’ willingness to borrow should not be affected by the impacts of COVID-19 on MSEs. Rather, the explanation concerns the greater unfamiliarity or uncertainty concerning IFSs relative to traditional financial instruments. Moreover, MSEs' understanding of IFS's advantages and disadvantages has significant adverse mediating effects on the relationship between MSEs' willingness to borrow via IFS and the impacts of COVID-19. Furthermore, the enterprise variables of MSEs, namely, their industry type, entrepreneur’s education, number of employees, profit margin, and operating years, have significant moderating effects on these relationships. The results have implications for the government’s comprehensive supervision system for IFS risks, IFS firms’ enterprise performance, risk survey, and information disclosure systems, and the development of customer-specific and easy-to-use marketing strategies for IFS firms.

     

How perceived empowerment HR practices influence work engagement in social enterprises – a moderated mediation model

Abstract

Drawing insights from the group engagement model and self-determination theory, our research explored the role of perceived empowerment human resource (HR) practices in the hybrid organizational form of social enterprise in China. Based on two studies, this paper developed and examined a moderated mediation model, linking perceived empowerment HR practices, identification motivation, work engagement, and authority work value. Specifically, in Study 1 we found perceived empowerment HR practices increased employees’ work engagement through enhancing employees’ identification motivation. In Study 2, we adopted a two-wave design to duplicate and extend this mediation model. A moderator, employees’ authority work value, was found to weaken both the mediation relationship, and the positive relationship between perceived empowerment HR practices and identification motivation. This study broadens the understanding of what social enterprises look like in alternative contexts, while providing an opportunity to explore how a HRM mechanism and its boundary condition function in large social enterprises in China.     

Fading out of local government ownership: recent ownership reform in China’s township and village enterprises

Local government ownership has dominated China’s township and village enterprises (TVEs) and made a significant contribution to the TVE growth miracle for many years. However, since the mid-1990s, TVEs have conducted a series of radical and successful restructuring in their ownership and governance arrangements. The most striking feature of the restructuring is the fading out of local government ownership. This paper discusses why local government ownership could dominate private ownership in the first two decades of China’s transition and identifies what factors have driven the fading out of local government ownership over TVEs in recent years. It then characterizes one of the emerging joint-ownership forms called “joint-stock cooperative” (JSC) (gufen hezuozhi) and shows the adaptive efficiency of the new form. In this way, the paper also sheds light on the roles that an alternative form of ownership and governance can play in an alternative institutional environment.     

Research on environmental accounting information disclosure for thermal power enterprises in China： Current situation, countermeasure and implement way

Along with the unceasing expansion of the human society production and the economic activity scale, the influence and harm of the social economy to the global environment is more and more serious. As one of the high-polluting industries in China, the environment problems of the thermal power enterprises attract attention from the country and society. It is crucial for the country to improve the laws and regulations about the disclosure of environmental accounting information gradually, and the thermal power enterprises should also disclose more valuable environmental accounting information to the public. This paper analyzes and elaborates the current situation, countermeasure and implement way of the environmental accounting information disclosure systematically.     

Study on the degree of satisfaction on the functions of the financial system used in E-commerce enterprises based on Fuzzy AHP

In this paper, a comparison analysis is made on the functions of three generally used financial software, R/3 by SAP, a German company, U8 by Ufida Software Co. Ltd and K/3 by Kingdee. Then, a questionnaire survey has been conducted to financial staffs in the E-commerce enterprises to find out the degree of satisfaction on the functions of the above systems. The result indicates that most financial staffs are moderately satisfied. Furthermore, to judge the correction of the above questionnaire conclusion, Fuzzy Analytical Hierarchy Process is employed to firstly establish an integral financial appraisal index system and then put forward a comprehensive evaluation model for the functions of financial system used in E-commerce enterprises.     

Can not-for-profits learn from for-profits?

Marketing management will help you maintain service quality, keep donors satisfied and generate a dependable source of income. For-profits survive on these activities.     

Sacred alliance or pact with the devil? How and why social enterprises collaborate with mainstream businesses in the fair trade sector*

Abstract

This paper uses institutional theory to highlight different patterns of cross-sector collaboration from the perspective of social enterprises. Specifically, it explores how and why social enterprises interact with mainstream businesses and to what extent their collaboration patterns reflect a vision of how their social mission should be implemented and institutionalized. The empirical analysis is derived from a qualitative study of ‘fair trade’ – a hybrid model created by social enterprises and using market mechanisms to support small-scale producers in developing countries and to advocate for changes in international trading practices. The findings highlight three strategies used by fair trade social enterprises to manage their interactions with mainstream businesses: sector solidarity, selective engagement, and active appropriation. This paper suggests that each strategy is motivated by a different vision of how best to articulate the social mission of fair trade via specific types of collaborations. It also notes how each vision has a distinct pattern of institutionalization at the field level. This paper adds to the emergent literatures on social enterprise and social entrepreneurship, fair trade, cross-sector collaboration and hybrid organizing.     

Do social enterprises attract workers who are more pro-socially motivated than their counterparts in for-profit organizations to perform low-skilled jobs?

Abstract

The literature highlights that social enterprises (SEs) attract workers who are motivated to help others and to meet the social aims in which they believe. However, this assumption is challenged in the case of low-skilled jobs. Therefore, we have performed an empirical study in the quasi-market of service vouchers in Belgium to know if SEs attract workers who have a different motivational profile than their counterparts in for-profit organizations (FPOs) to perform low skilled jobs (N = 217). No significant differences were found. Next, we have compared FPOs with two types of social enterprises, Home Care Services Organizations (HCSOs) and Work Integration Social enterprises (WISEs), and again no significant differences were found for the whole sample. However, it seems that a selection effect exists in WISEs when the sample is reduced to people who were not previously unemployed. In others words, when WISEs deviate from their initial mission of ‘hiring the most vulnerable people on the labor market’, it is only to hire workers whose are highly motivated to achieve the organization’s mission and who fit with the values defended by the organization.     

Do Ukrainian Firms Benefit from FDI?

All countries are eager to attract as much foreign direct investments (FDI) as possible. At the same time FDI may have not only positive, but also negative economic effects for receiving countries. Positive effects are associated with technology transfer, efficient allocation of resources, and training of domestic workers. However, the entry of foreign firms could, e.g., lead to a decrease of labor productivity at domestic firms, which is a negative effect. The main purpose of this paper is to estimate direct and indirect effects of FDI. First, we test for direct influence of foreign direct investments on firms performance, where the latter is estimated alternatively as labor productivity and as exports. FDI notably increases both labor productivity and export volumes. Second, we look for spillover or indirect effects. There is statistical evidence that the levels of FDI in certain regional industries are associated with higher performance indicators of firms not receiving FDI in those same regional industries.JEL Classification: L1, L6, F2     

Can Germany save itself from negative rates?

• German inflation looks set to rise in response to diminishing slack in the economy. But this will be a mixed blessing for those in Germany hit by negative policy rates and ECB asset purchases. Higher German inflation may eliminate the need for further ECB policy action, but it is unlikely to trigger imminent rate hikes. As a result, the rise in inflation will merely lower real interest rates for German savers.
• Structural cross‐country differences mean that the ECB is better able to hit its inflation target when the peripheral economies rather than Germany are the region's growth engine. A key reason for this is that the German Phillips curve is flat by Eurozone standards, meaning that policymakers need to work hard to generate sufficient inflation in Germany to offset sustained weakness elsewhere.
• Despite this, there is evidence to suggest that the tightening labour market is beginning to push German wage growth higher. And if productivity growth remains subdued, this will lead to faster unit labour cost growth.
• While firms could respond by lowering their margins, the strength of household spending suggests that firms may be more inclined than in the past to pass on higher costs to consumers.
• In all, we expect German inflation to rise more sharply than elsewhere to around 2% in 2017, meaning that the ECB will not unveil further unconventional policy support. But it would take much sharper rises in German wage growth and inflation than in our baseline forecast to prompt the ECB to bring forward interest rate rises.

     

Cash Flow from Operations, Accruals and Earnings Persistency

Persistency of earnings is an important measure of eamings quality. It is generally accepted that the more the persistency is, the higher the quality of earnings is. We analyze the characteristic factors influencing earnings persistency, use data of A-share listed companies during 1998-2004, and find that earnings persistency is significantly related to the nature of earnings, the cash content of earnings and the quality of accruals.     

Study on CPAs＇ Audit Activities from System Perspective

This paper studies the nature of CPAs＇ audit activities based on neo-institutional economics. CPA auditing is not only a kind of technical activity serving for particular parties, but also systems arrangement for coordinate interests conflict in the capital market. The common belief in the elimination and prevention of fraud is the foundation of CPA audit system. Professional auditors and audit organizations possess skills and positions matching the stock market. The incentive of audit fees and the binding force of audit liabilities both guarantee the self-implementation of audit system. Audit reports signal the fairness of accounting information in simplified forms. CPA audit system also has inherent contradictions. The CPA audit activities should be viewed from a system perspective in order that ideas for the perfection of audit activities can be raised from system construction perspective.     

Information content of index inclusions： Evidence from China

This paper examines whether index inclusion has information content and the downward-sloping demand curve hypothesis in China. We investigate the stock price and volume effects when stocks are included in two major stock indexes, the Shanghai Stock Exchange 30 Index （SH30） and the Shenzhen Component 40 Index （SZ40）. Furthermore, we also study the performance changes after index inclusion. We find significant price and volume increases for the stocks selected by the SH30 when the index was created and announced. Thus, the original inclusion may not be an information-free event. For subsequent index inclusions, we observe significant abnormal returns but not abnormal trade volume around the announcement date. However, the stock returns quickly reversed at the post-announcement period. Moreover, the financial performance of index included firms does not improve. The evidence does not support the price pressure hypothesis in China.     

Does high-speed railway promote urban innovation? Evidence from China

Empirical discussion in the existing literature on the relationship between transportation infrastructure and innovation remains limited. As one of the most important transport infrastructures, China's high-speed railway (HSR) has greatly compressed the space-time distance and strengthened the linkages between cities, which may contribute to innovation activities. Using the panel data of 285 Chinese prefecture-level and above cities and employing the difference-in-differences (DID) model, this paper examines the impact of HSR opening and HSR service intensity on the urban innovation. Propensity score matching (PSM) together with DID (PSM-DID) method is utilized to address the potential estimation biases. The empirical results demonstrate that HSR has significantly improved the level of urban innovation. Heterogeneity analysis finds that the promotion effects of HSR on innovation are more remarkable in peripheral and small cities. Moreover, the effects of HSR on cities far away from the central and large cities are with higher significance and greater magnitude than cities close to central and large cities. For cities near central and large cities, the service intensity of HSR is more likely to improve their innovation level. In addition, we further find that service industries and private enterprises benefit more from the effect of HSR in promoting innovation. This study can provide robust evidence for the effect of HSR on promoting urban innovation, as well as policy enlightenment for innovation growth and sustainable economic development.     

Adjustment of Input–Output Tables from Two Initial Matrices

The compilation of the information required to construct survey-based input–output (I–O) tables consumes resources and time to statistical agencies. Consequently, a number of non-survey techniques have been developed in the last decades to estimate I–O tables. These techniques usually depart from observable information on the row and column margins, and then the cells of the matrix are adjusted using as a priori information a matrix from a past period (updating) or an I–O table from the same time period (regionalization). This paper proposes the use of a composite cross-entropy approach that allows for introducing both types of a priori information. The suggested methodology is suitable to be applied only to matrices with semi-positive interior cells and margins. Numerical simulations and an empirical application are carried out, where an I–O table for the Euro Area is estimated with this method and the result is compared with the traditional projection techniques.     

On determinants of audit fee： New evidence from China

Summarizing many audit service pricing models, we use the method ‘stepwise’ of OLS to establish our audit service pricing. And then, we get a result that the four factors determine audit fees and total assets at year-end and sales of the current year are complementary each other in measuring the auditee size better than respectively.     

Does Targeted Monetary Policy Matter? A Perspective from China

Several major central banks have experimented with targeted monetary policy to improve credit resource allocation. This policy only applies to ‘eligible’ banks. For example, The People's Bank of China conducted seven targeted reductions of reserve requirements during 2014–15. This article documents the phenomenon of targeted monetary policy and evaluates its effects. The results show that, in the case of China, this policy has generated an extra significant, positive return on the stocks of eligible banks, amounting to 1.2–1.3 per cent in a four‐day treatment period. This substantial return gives commercial banks an extra incentive to align with the policy goals of central banks.