Can environmentally oriented CEOs and environmentally friendly suppliers boost the growth of small firms?

The core question addressed in the natural resource‐based view (NRBV) of the firm is how to develop and exploit resources beneficial for both the natural environment and firm performance. Due to the resource constraints and increased competition facing small manufacturing firms, achieving this is a challenge for such companies. Building on the NRBV and resource orchestration literatures, we examine the relationship between green purchasing capabilities (GPCs), CEO's environmental orientation (EO), and firm growth. Results from 304 Swedish small manufacturing firms indicate a significant relationship between GPC and growth, and this relationship is positively moderated by the EO of the CEO.     

The antecedents of digital collaboration through an enhanced digital platform for destination management: A micro-DMO perspective

While the tourism sector shifts towards digital transformation, Destination Management Organisations (DMOs) often struggle to adapt to their changing technological environment. This study explores the antecedents of digital collaboration and develops a framework for micro-DMOs to enhance effective destination management through digital technologies. An integrated sequential qualitative approach was adopted by conducting multi-phase interviews, in addition to designing and trialling a real-world trial digital platform. The research provides empirical evidence that digital collaboration is essential for micro-DMOs, necessitating them to transform their current “websites” into digital platforms which act as a hub for business stakeholders to actively be involved in. Antecedents of successful digital collaboration include mutuality, trust, control, and leadership which may be manifested differently from non-digital collaboration. Additionally, the study identifies three aspects for digital collaboration; marketing, networking and knowledge sharing that demands specific attention. Our results have theoretical, methodological, and practical implications for academia, industry and policymakers.     

新冠肺炎疫情对中小微外贸企业的影响及对策

突如其来的新冠肺炎对全球经济造成了很大的影响,我国对外贸易当然更是无法幸免。但总体而言,笔者认为,短期影响虽然十分严重,但正在逐步消弭;中期影响需要认真对待,损失基本可控;长期影响更加深刻,但是依然可以化解——我国以及我省对外经济贸易总体向好的态势有望保持。然而,面广量大的中小微外贸企业原本就身体单薄,这场突如其来的疫情,无疑又是雪上加霜,日子更加艰难,亟待关注与帮扶。     

Will FinTech make regional banks superfluous for small firm finance? Observations from soft information-based lending in Germany

Regional banks have a competitive advantage in that short distances to clients enable the use of soft information for superior lending decisions. If the ambition of FinTech start-ups to create superior screening and monitoring technologies materialises, this advantage would be diminished and regional banks would become superfluous for small firm finance. To explore this claim, the paper in hand analyses qualitative empirical data about the lending processes and rating system use of regional German savings banks. In essence, the results from participant observation and interviews clarify the importance of “real” soft information for critical lending decisions. The context specificity and limited verifiability of “real” soft information hamper it from being hardened through the use of rating systems and other bank-ICT. Though FinTech's scoring technologies may overcome the first limitation, it appears likely that in the course of scoring development “real” soft information will be systematically crowded out due to the manipulation problem. The paper expects improved access to finance for SMEs if FinTech solutions overcome both limitations of “real” soft information use, or if peer-to-peer lending and regional banks coexist. Deteriorated access to finance is expected if FinTech companies displace the relationship banking of regional banks due to enhanced competition, without preserving the advantages of “real” soft information with superior screening and monitoring technologies. The paper concludes with recommendations on how to prevent deteriorated access to finance for small firms by promoting fair competition and FinTech innovations.     

Exploring the mismatch between credit ratings and loss-given-default: A credit risk approach

It is commonly observed that high grade loans with better ratings are often associated with low recoveries if they default (i.e. with relatively high loss-given-default (LGD)). To address the mismatch problem, this paper proposes a credit risk approach by minimizing LGD for higher rated loans as a risk-rating matching standard in the sense that the decreasing LGD from creditors’ perspective is associated with higher credit rating for the borrower. This standard forces customers’ credit rating of each grade to be optimally determined in correspondence to its LGD, which means the LGD of high grade loans tends to be low. The approach is then tested using three credit datasets from China, i.e. credit data from 2044 farmers, 2157 small private businesses and 3111 SMEs. The empirical results show that the proposed approach indeed guides the way to solve the mismatch phenomenon between credit ratings and LGDs in the existing credit rating literature. By optimally determining credit ratings, the findings derived from this paper help provide a valuable reference for bankers, and bond investors to manage their credit risk.     

中小企业全面预算管理存在的问题与对策

在经济全球化的背景下,大部分企业都面临着巨大的竞争压力,尤其对于中小企业来说,在复杂环境下保持稳定发展更是一种挑战。构建全面预算管理体系是企业提升市场竞争力的重要手段,虽然预算管理流程通常只分为预算编制、预算执行控制、预算考核三大环节,但我国中小企业的全面预算管理还存在诸多问题。论文据此进行分析并提出解决对策。     

中小企业人力资源管理中的劳动关系管理问题与优化策略

随着我国经济的快速发展,国家越来越重视中小企业人力资源管理中的劳动关系问题。为了进一步加强中小企业的人力资源管理,需要根据实际情况以人力资源战略规划和管理作为基础支撑,完善人力资源管理中的劳动关系管理工作,明确劳动关系管理的内涵。因此,论文针对中小企业人力资源管理中的劳动关系管理问题进行简要分析,并提出合理化建议。     

金融集聚能缓解中小企业融资约束吗？——基于非线性和区域异质性的视角

以2009—2017年上市中小企业面板数据为样本，应用现金现金流敏感性模型分析了金融集聚对中小企业融资约束的影响。研究发现：整体上金融集聚可以一定程度缓解中小企业融资约束，但存在地区性差异，且门槛效应明显。金融集聚对低金融集聚水平地区的中小企业融资困境有明显改善，但其影响随着金融集聚水平的增加而减少。当金融集聚水平超过高门槛值时，这一作用非常微弱，总体上呈现非线性特征。这说明当金融资源高度集中时可能产生挤出效应。     

别让IT运维成为中小企业迈向国际化的“包袱”

随着中国改革开放的不断深入,中国加入WTO,国内中小企业如雨后春笋般的发展起来,甚至已经将公司开到了国外,为新中国的经济腾飞做出了不可磨灭的贡献,期间IT系统在规范管理、提升工作效率方面起到了应用的作用。但随着企业规模的不断扩大,分公司越来越多,地域间隔越来越远,IT系统运维正变得空前困难。鉴于此,本文将着重介绍如何利用新技术降低IT运维成本,提升运维效率。     

基于融资行为的中小企业社会信任网络构建

中小企业社会信任网络的多层次性与其融资的可获得性有着密切的关系。通过社会信任网络解决中小企业内生资源不足问题，利用网络内含的默契、惯例、信任以及惩罚机制，构建以融资效率为核心的中小企业社会信任网络，有助于改善中小企业融资环境，消除中小企业融资障碍，提高中小企业融资效率。