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The purpose of this paper is, from a resource accumulation and resource allocation perspective, to examine the variant effects of government subsidies among firms with varying levels of market power and to test how industry competition moderates the relationship between market power and allocative efficiency of government subsidies.

This study explores the relationship between government subsidies and firm performance from a resource-based view. The authors study the moderating role of market power and three-way interaction between subsidy, market power and industry competition on firm performance. The authors test their hypotheses using a sample of Chinese A-share manufacturing firms from 2006–2019. The authors apply firm-level panel data regressions and conduct a series of robustness tests. The marginal effect of market power and industry competition is explored via three-way moderator effect models.

This study finds that government subsidies are negatively related to firm performance. Market power, on average, strengthens the negative effect of government subsidies on performance, but such a reinforcement effect is neutralized when industry competition is intense. Government subsidies are least efficiently used when firms have market power and industry competition is low. In addition, the authors use different forms of firm performance and a various of robustness tests to verify their assumptions.

This paper contributes to the literature as follows. First, the authors look into subsidy–performance problem from the perspective of the resource-based view and contribute to explaining and mitigating the divergence of current findings on the subsidy–performance relationship. Second, the authors introduce market power and industry competition as moderators to study how resource allocative efficiency affects the subsidy–performance relationship. Third, the authors propose that managerial incentives have played an important role in the allocation of government subsidies, which enriches management practices.

This paper aims to examine the behavioral determinants of firm research and development (R&D) investment in China by looking into the interaction between performance aspiration and industrial search.

The author argues that the performance aspiration effect is strengthened in R&D-intensive industries based on the isomorphism rationale, whereas it is weakened by high industry R&D intensity owing to the differentiation rationale. Deriving from the isomorphism and differentiation rationales, the author developed a set of competitive hypotheses and empirically tested them by using a large panel data of 6,539 company-years from China for the period 2001-2003.

First, R&D intensity is positively related to the deviation of firm performance from aspiration. Second, industry R&D intensity negatively moderates the relationship between performance aspiration and firm R&D intensity for firms performing above aspiration. Therefore, the results provide support for the differentiation rationale.

The study contributes to the ongoing research that provides and tests the behavioral explanations for R&D and innovation. By delving into the moderating role of industry R&D intensity, the author advocate the need for contextualizing performance aspiration in industrial environments. The study informs policymakers and business leaders about the interaction between the external environment and internal decision process in R&D investment decision.

This study aims to explore the extent to which Chinese multinational enterprises (MNEs) rely on supranational institution – the Belt and Road Initiative (BRI) – versus host country institutional quality to navigate their foreign location choice.

This study uses a conditional logit regression model using a sample of 1,302 greenfield investments by Chinese MNEs in 54 BRI participating countries during the period 2011–2018.

The results indicate that as a supranational institution, the BRI serves as a substitution mechanism to address the deficiencies in institutional quality in BRI participating countries, thereby attracting Chinese MNEs to invest in those countries. In addition, the BRI’s substitution effect on host country institutional quality is more pronounced for large MNEs, MNEs in the manufacturing industry and MNEs in inland regions.

This study expands the understanding of the BRI as a supranational institution for MNEs from emerging markets and reveals its substitution effect on the host country institutional quality. Furthermore, it highlights that MNEs with diverse characteristics gain varying degrees of benefits from the BRI.

This paper aims to explore how Chinese negotiators’ positive and negative emotions affect value claiming during dyadic negotiations and examine the influence of these aroused emotions on the recipient as well as the antecedents and consequents of such reactions.

Using a simulated face-to-face negotiation between buyers and sellers, the authors conducted an experiment based on the manipulation of the sellers’ emotions. About 280 undergraduates participated in a simulated negotiation. SPSS20.0 statistical analysis software was used to test the hypothesis.

The results indicated that the sellers who demonstrates negative emotions claimed more value than happy sellers (direct effect), and the perceived power disadvantage mediated this effect. Moreover, buyers in the happy dyads displayed a higher evaluation of their guanxi (relationship). This experiment also indicated that the sellers’ emotions (happiness or anger) evoked a reciprocal emotion in the buyers, supporting the social contagion perspective. More importantly, as emotion recipients, the buyers’ reactions exerted further influence on the outcomes (ripple effect); specifically, in the happy dyads, the buyers’ positive emotional reactions were negatively related to their individual gains. Finally, the buyers with low agreeableness were more likely to display negative emotional reactions.

Negotiators should have an understanding of how emotions may shape conflict development and resolution via direct and ripple effects. In general, during Chinese negotiations, expressing anger is an effective negotiation tactic that incurs the expense of damaged relationships with counterparts.

The findings validated the impact of emotions in the Chinese negotiation context. Further, the paper extended the research by demonstrating the influence of emotions on the recipients’ reactions. Both the direct and ripple effect provided evidence for adopting the strategic choice perspective during negotiations.

Based on the theory of performance feedback, this study aims to explore the theoretical relationship between performance shortfalls and the financialization of non-financial enterprises. It further analyzes the moderating effect of economic policy uncertainty (EPU) and organizational redundant resources.

Multiple regression analysis is used on 16,555 initial samples of 2,658 Chinese A-share issuing enterprises from 2007 to 2019 to empirically test the relationship between performance shortfalls and the financialization of non-financial enterprises, and an instrumental variables-generalized moments estimation model is also used to verify the robustness of the results.

The results reveal that the greater the performance gap below the aspiration level, the higher the degree of enterprise financialization. Moreover, EPU strengthens the relationship between performance shortfalls and financialization, whereas organizational redundant resources weaken the relationship between performance shortfalls and financialization.

Decision-makers should determine the aspirated performance level of enterprises to make investment decisions that are most conducive to the long-term development of enterprises. Each enterprise should establish scientific management evaluation and supervision systems to avoid financial investment behaviors that place too much emphasis on short-term performance.

This study finds that financialization is one of the reactions when performance of enterprises is lower than the aspiration level, thus expanding the functional dimensions of performance feedback and supplementing the research on the influencing factors of enterprise financialization. The results also reveal information about situational factors, helping identify the boundary conditions through which performance below aspirations affects enterprise financialization.

Philanthropy is taken as a strategic behavior by private enterprises to obtain financial resources from governments. This paper aims to examine the relationship between private enterprise philanthropy and the debt finance, further investigating the way by which governments exchange resources with private enterprises.

The paper opted for an empirical study using a sample of 1,489 Chinese private-listed companies from 2007 to 2010. The study analyzed the relationship between philanthropy and debt finance based on the resource dependence theory and social exchange theory and tested the moderating effect of political connection.

Philanthropy can help private enterprises to get the debt finance, and this effect occurs mainly among the political connected private enterprises; the higher degree of credit allocation marketization is, the less philanthropy can affect the debt finance and the less influence political connection can exert on that relationship. Philanthropy contributes to debt financing mainly because it can help obtain more long-term loan, and this effect is more obvious for politically connected private enterprises in regulated industries.

This paper verifies the action logic of private enterprises philanthropy from the perspective of exchange behavior, which is helpful to understand the motive and influence of private enterprises philanthropy.

The purpose of this paper is to examine the relation between audit committee (AC) and a set of other corporate governance mechanisms in one of the emerging economies, United Arab of Emirates (UAE). In particular, the current study examines whether an effective AC can serve as a substitute or as a complement mechanism to board characteristics and ownership structure of Emirati listed non-financial companies.

Using substitution and complementary theories, a panel data from 48 nonfinancial companies listed on the UAE Stock Exchanges [Abu Dhabi Stock Exchange and Dubai Financial Market] during the period between 2011 and 2013 were used in the current study. A composite measure of four proxies has been used to measure the AC effectiveness, namely, AC size, independence, financial expertise and diligence. To test the hypotheses formulated for the study, a logistic regression model was used to identify the influence of a set of board characteristics and ownership structure variables on the effectiveness of the AC after controlling for firm size, auditor type, industry type and profitability.

While AC effectiveness appeared to be positively associated with board size and board independence, it is negatively associated with CEO duality. This points to a complementary governance relation. On the other hand, the negative relationship between AC effectiveness and each of institutional and government ownership suggests substitutive relations.

The main shortcoming of the current study is that it examines the influence of a certain set of corporate governance factors on the effectiveness of AC. Other corporate governance mechanisms may, however, contribute to the effectiveness of AC. The findings of the study can be used by companies’ managements and regulators in the UAE to improve the corporate governance system.

To the best of researchers’ knowledge, this study provides the first evidence about the interaction among multiple governance mechanisms required by the code of corporate governance issued by the UAE Ministry of Economy in 2009. The current paper is expected to add to the limited AC literature in Middle East and North African countries in general and Arab World in particular.

The purpose of this paper is to explore the extent to which Chinese classical virtues act as a restraint on consumerist hedonic values and the associated priority on profit maximisation by managers.

The paper is based on a literature review and adopts a reflective approach to the topic.

The paper considers how Chinese classical virtues are related to contemporary relational or indigenous values and how a social tension is created between these values and the hedonic values now present in Chinese urban society. Implications for management and management education are reviewed in the light of this tension.

The social unrest created by the privatisation of SOEs can be mitigated by the promotion of management education sensitised to the cultural norms and expectations of the Chinese people in relation to the role and responsibilities of managers. The Junzi (gentleman‐leader) archetype and the virtues of ren‐yi‐li are offered as exemplary features of a management seeking to balance social responsibility with profitability.

The paper highlights the social turbulence created by the advent of market economics in China and the concomitant rise of consumerism and the privatisation of state‐owned enterprises.

This paper aims to demonstrate how customer knowledge management (CKM) can assist destination management organizations (DMOs) in the smart management of the tourist experience to contribute to the creation of smart solutions and the promotion of smart tourism destinations (STDs). To accomplish it, a CKM conceptual framework aligned with smart tourism and composed of eight processes is developed to guide managers in this management.

This research adopts the design science research methodology and applies its steps. It was supported by a systematic integrative literature review on CKM models and frameworks and their main elements, as well as by semi-structured interviews with tourism specialists in the context of Santa Catarina, Brazil.

From the literature it appears that tourist experiences are customer knowledge essential to the improvement and innovation of tourism products and services, and that CKM, still little explored in this scenario, tends to contribute to the management of this crucial knowledge for smart tourism. The analyses and improvements to the structure developed by specialists show its applicability and contributions to the management of STD experiences.

This paper offers an original contribution to the integration of the theoretical constructs of CKM, tourist experience and STDs by showing how the CKM, from tourism experiences, technologies and social networks, can assist DMOs in the management of experiences and promotion of STDs.

This paper intends to provide a thematic literature review of the scholarly research articles orbiting the Sino–African education cooperation and exchange, published between 2005 and 2022.

The methodology used in this paper is qualitative in nature with a thematic approach. The author used content analysis techniques to spotlight the major themes of the topic studied. The author selected the papers and theses, based on their heuristic capacity, from two major databases for the English and Chinese literature: Web of Science and CNKI. The selection process resulted in 60 high-quality peer-reviewed articles and theses. Another 30 research articles and theses were used as supplementary resources.

The literature concentrates on six points: the historical development, the nature of the exchange, the frameworks of the cooperation, vocational training and knowledge transfer, African students in China and their experiences, and education cooperation and soft power. However, research tends to be somewhat polemical rather than an academic debate between Chinese researchers and their western peers. Therefore, empirical studies beyond the geopolitical preoccupations and the “YEA” or “NAY” to the Sino–African education exchange are critically needed.

The implications of this study go beyond the east/west or developed/developing world rhetoric and focus more on sustainable educational development on a global scale. Understanding how the literature on the Sino–African education engagement is shaping, provides valuable insights into international education in the global south. It can also be implied to approach educational engagement with other destinations such as India, Türkiye and Brazil.

This thematic literature review concentrates on the educational aspect of Sino–African relations. It compares English and Chinese peer-reviewed scholarly articles and theses on China–Africa educational engagement and has heuristic implications for sustainable educational development globally.