Managerial and Decision Economics最新文献

Firm's Social Security Costs and Decentralization Decision 企业社会保障成本与分权决策

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-11-30 DOI: 10.1002/mde.70056

Ke Zhang, Min Guo

引用次数: 0

Digital Investment Decisions and Service Firm Innovation: Evidence From Tourism Enterprises in Tanzania 数字投资决策与服务企业创新：来自坦桑尼亚旅游企业的证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-12-22 DOI: 10.1002/mde.70048

Xiu-Hao Ding, Heda Augustino Chale, Ruihong Liu, Bek Dhuorjang Chol

{"title":"Digital Investment Decisions and Service Firm Innovation: Evidence From Tourism Enterprises in Tanzania","authors":"Xiu-Hao Ding, Heda Augustino Chale, Ruihong Liu, Bek Dhuorjang Chol","doi":"10.1002/mde.70048","DOIUrl":"https://doi.org/10.1002/mde.70048","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigates the impact of digital resources (DR) on tourism innovation outcomes (TIO) among enterprises in the Ngorongoro Conservation Area (NCA), Tanzania. We study how small- and medium-sized service firms decide to allocate scarce capital to digital tools and the causal effect of these investments on innovation. Using a unbalanced panel of 2640 firm–year observations with a sample of 280 tourism enterprises registered from 2013 to 2023, we combine fixed effects Poisson and fractional logit models with an instrumental variables strategy. The results indicate that the adoption of DR promotes various aspects of tourism innovation. A one-unit increase in the DR index is associated with a 5.2 average increase in innovation outcomes. The effect is strongest among firms with low initial intensity and among enterprises located outside protected areas. These findings suggest that digital adoption contributes to productivity growth and competitiveness in African service industries. The government should intentionally identify and address the challenges that work against manufacturing competitiveness on the continent. The paper concludes by highlighting the policy relevance of targeted ICT support and grant programs for small and medium enterprises.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 3","pages":"723-739"},"PeriodicalIF":2.7,"publicationDate":"2026-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147567687","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Family Firm Origin and AI Orientation 家族企业起源与人工智能取向

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-12-04 DOI: 10.1002/mde.70058

Yinzhuan Bai, Wei Sun, Weiguo Fan

引用次数: 0

Bargaining Power Neutrality in Mergers and Acquisitions 并购中的议价能力中立性

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-12-02 DOI: 10.1002/mde.70057

J. Manuel Sanchez-Cartas

引用次数: 0

The Impact of Cross-Border E-Commerce on Urban Entrepreneurial Activity: Evidence From Cross-Border E-Commerce Comprehensive Pilot Zones 跨境电子商务对城市创业活动的影响：来自跨境电子商务综合试验区的证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-12-05 DOI: 10.1002/mde.70060

Kai Sun, Xin Zhong, Ding Xiong

{"title":"The Impact of Cross-Border E-Commerce on Urban Entrepreneurial Activity: Evidence From Cross-Border E-Commerce Comprehensive Pilot Zones","authors":"Kai Sun, Xin Zhong, Ding Xiong","doi":"10.1002/mde.70060","DOIUrl":"https://doi.org/10.1002/mde.70060","url":null,"abstract":"<div>\u0000 \u0000 <p>Entrepreneurial activity is a key indicator of regional economic vitality and innovation capacity. Against the backdrop of accelerating digital economic development, cross-border e-commerce (CBEC), as a new form of international trade, is not only reshaping the global trade landscape but also injecting new momentum into regional entrepreneurship. This study exploits the phased rollout of China's CBEC Comprehensive Pilot Zones as a quasi-natural experiment. It constructs a multi-period difference-in-differences model using panel data of 286 prefecture-level cities from 2008 to 2021 to evaluate the policy's impact on urban entrepreneurial activity and explore potential mechanisms. The empirical results show that, first, the CBEC policy significantly promotes the growth of new firm creation and exhibits robust positive effects. Second, mechanism analysis reveals that the policy operates through four main channels: digital empowerment of traditional industries, venture capital agglomeration, high-skilled talent attraction, and enhancement of high-end manufacturing product exports. Third, heterogeneity analysis indicates that the policy effect is more pronounced in inland, peripheral, and resource-based cities, and that non-state-owned enterprises and technology-intensive sectors benefit more significantly. This study enriches the analytical framework of digital trade and entrepreneurship, deepens the understanding of the economic effects of CBEC policy, and provides empirical evidence to support regional entrepreneurship policymaking in the context of institutional opening-up.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 3","pages":"670-687"},"PeriodicalIF":2.7,"publicationDate":"2026-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147563105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Industry Expert Independent Directors and Corporate Innovation 行业专家独立董事与企业创新

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-12-05 DOI: 10.1002/mde.70059

Xingquan Yang, Hongxi Gong

{"title":"Industry Expert Independent Directors and Corporate Innovation","authors":"Xingquan Yang, Hongxi Gong","doi":"10.1002/mde.70059","DOIUrl":"https://doi.org/10.1002/mde.70059","url":null,"abstract":"<div>\u0000 \u0000 <p>Innovation represents the source of a company's core competitiveness. Using the data on China's A-share listed companies from 2010 to 2022, this study examines whether and how industry expert independent directors influence corporate innovation. Based on the dual-function view of independent directors, we find that industry expert independent directors promote both the quantity and quality of innovation while mitigating the patent bubble problem by reducing agency costs and optimizing the allocation of innovation resources, thereby fulfilling their dual role in monitoring and resource provision. The positive impact of industry expert independent directors on innovation is particularly pronounced in non-state-owned enterprises and those located in eastern China. This effect is further amplified when these directors possess an educational background, political connections, academician status, a high activity level, and higher reputational capital. Additionally, while promoting both the quantitative and qualitative growth of innovation, industry expert independent directors can effectively promote the transformation of innovation into real productivity and improve the total factor productivity of firms. This paper provides decision-making references for firms in formulating innovation strategies and selecting independent directors.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 3","pages":"647-669"},"PeriodicalIF":2.7,"publicationDate":"2026-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147563107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Perception of Economic Policy Uncertainty and Corporate Leverage Manipulation: Microlevel Evidence From Listed Firms in China 经济政策不确定性感知与企业杠杆操纵：来自中国上市公司的微观证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2026-01-08 DOI: 10.1002/mde.70076

Wang Chan, Wei Xin, Nie Puyan

{"title":"Perception of Economic Policy Uncertainty and Corporate Leverage Manipulation: Microlevel Evidence From Listed Firms in China","authors":"Wang Chan, Wei Xin, Nie Puyan","doi":"10.1002/mde.70076","DOIUrl":"https://doi.org/10.1002/mde.70076","url":null,"abstract":"<div>\u0000 \u0000 <p>Leverage manipulation refers to firms' discretionary adjustments of reported leverage to influence financing conditions. Using data from A-share listed companies in China from 2010 to 2023, this study employs text mining techniques to extract relevant textual content from corporate annual reports and construct firms' perception of economic policy uncertainty (FEPU), examining its impact on corporate leverage manipulation. We find that firms significantly increase their leverage manipulation in response to heightened FEPU. Mechanism analyses suggest that firms' debt service burden positively moderates the relationship between FEPU and leverage manipulation. Further heterogeneity analyses reveal stronger effects for state-owned enterprises, firms with weaker internal controls, those experiencing greater financing constraints, firms in highly competitive industries, and companies located in regions with lower marketization levels. Regarding economic consequences, although leverage manipulation may temporarily mask financial risk and sustain financing capacity, it ultimately constrains credit access and increases operational instability, elevating the risk of organizational decline. This study contributes to the literature on economic policy uncertainty and corporate financial manipulation and offers policy implications for designing more effective deleveraging frameworks.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 3","pages":"803-820"},"PeriodicalIF":2.7,"publicationDate":"2026-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147564025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Digitalization-Enabled Resilience During the COVID-19 Pandemic: Evidence From Tourism Enterprises 2019冠状病毒病大流行期间的数字化复原力：来自旅游企业的证据

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-12-19 DOI: 10.1002/mde.70072

Xijia Huang, Haibin Wu, Dashan Liu, Xinchen Liu, Lisi Yang

{"title":"Digitalization-Enabled Resilience During the COVID-19 Pandemic: Evidence From Tourism Enterprises","authors":"Xijia Huang, Haibin Wu, Dashan Liu, Xinchen Liu, Lisi Yang","doi":"10.1002/mde.70072","DOIUrl":"https://doi.org/10.1002/mde.70072","url":null,"abstract":"<div>\u0000 \u0000 <p>The COVID-19 pandemic and associated social distancing policies significantly challenged the organizational resilience of enterprises, especially those belonging to the contact-intensive services. For enterprises whose business models traditionally rely on face-to-face interaction, whether—and through which mechanisms—digitalization can mitigate such vulnerability remains underexplored. Using the high-frequency stock data of China's A-share listed tourism enterprises and an observation window of almost 3 years when China's strict pandemic prevention and control policies took effect, this paper finds that digitalization significantly enhances organizational resilience during the COVID-19 pandemic, reflected in less stock price damage after the shock. The boost effect is more pronounced in for enterprises located in regions with high government attention to tourism and digital payment levels as well as non-SOEs. Besides, only artificial intelligence and big data analytics technologies in digitalization play a positive role in the resilience of tourism enterprises. Further mechanism analysis suggests that digitalization enhances the resilience of tourism enterprises through reducing supply chain concentration, increasing investor attention, and facilitating access to syndicated bank loans. These findings underscore the importance of digitalization in enabling contact-intensive enterprises to withstand and recover from external disruptions, offering valuable insights for both theoretical advancement and practical application in crisis management.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 3","pages":"707-722"},"PeriodicalIF":2.7,"publicationDate":"2026-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147567197","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Membership-Based Price Welfare Strategies in Retail Platforms: Coupons Versus Discounts 零售平台基于会员的价格福利策略：优惠券vs折扣

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2026-01-05 DOI: 10.1002/mde.70074

Qi Zhang, Guohao Li, Zhengyu Bai, Xuanzhi Yang

{"title":"Membership-Based Price Welfare Strategies in Retail Platforms: Coupons Versus Discounts","authors":"Qi Zhang, Guohao Li, Zhengyu Bai, Xuanzhi Yang","doi":"10.1002/mde.70074","DOIUrl":"https://doi.org/10.1002/mde.70074","url":null,"abstract":"<div>\u0000 \u0000 <p>In recent years, platform-led paid membership programs have become a popular marketing strategy. We develop a three-stage Stackelberg game model including a platform, a third-party seller, and heterogeneous consumers and investigate two membership strategies in the online retail platform: coupon strategy or discount strategy. We find that the coupon strategy is more effective in stimulating market demand, while the discount strategy can extract more consumer surplus through price discrimination. Moreover, regardless of the discount rate, when the platform sets a small (large) coupon denomination, the retail price, the seller's profit, membership cost, and membership fee under the coupon strategy are all lower (higher) than those under the discount strategy. Interestingly, the moderate coupon denomination gives the seller and the platform more flexible profitability, specifically through low retail price and membership cost, allowing sellers and platforms to earn high profit and membership fee, respectively. Furthermore, we show that when the platform sets a high commission, it is optimal for the platform to adopt the coupon strategy; when the platform sets a low commission and there is a large proportion of nonmembers in the market, it is optimal to adopt the discount strategy. Otherwise, the platform should not implement membership strategies. Our research provides inspiration and insights for retail platforms to implement membership programs.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 3","pages":"779-802"},"PeriodicalIF":2.7,"publicationDate":"2026-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147563183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Developing China's Real Economy: Efficiency Evaluation and Resource Allocation of Financial Services 发展中国实体经济：金融服务效率评价与资源配置

IF 2.7 3区经济学

Managerial and Decision Economics Pub Date : 2026-03-09 Epub Date: 2025-12-22 DOI: 10.1002/mde.70071

Ce Guo, Linda L. Zhang, Qiwei Xie

{"title":"Developing China's Real Economy: Efficiency Evaluation and Resource Allocation of Financial Services","authors":"Ce Guo, Linda L. Zhang, Qiwei Xie","doi":"10.1002/mde.70071","DOIUrl":"https://doi.org/10.1002/mde.70071","url":null,"abstract":"<div>\u0000 \u0000 <p>Unlike the available studies focusing on either the regional or corporate level, in this study, we examine financial service at the industry level, in hope of better developing China's real economy. In our data envelopment analysis-based approach, we first evaluate the efficiency of available financial services in different industries contributing to China's real economy. Subsequently, based on the efficiency evaluation results we optimize financial resource allocation, this alleviating misallocations in the real economy. We demonstrate our approach using data pertaining to financial services in 16 major industries in China. The results highlight significant differences in the efficiency of financial services in different industries. Several industries, such as the information transmission, computer services and software industry, and the education industry, have higher financial service efficiencies, while other industries, for example, the transportation, warehousing, and postal services industry, the wholesale and retail industry, have lower efficiencies. Regarding this, it is necessary to optimize financial resource allocation to improve financial services. In addition, we point out that excess financial resources (e.g., stock trading volume, loans) should be reallocated from, for example, the construction and manufacturing industries to others, including the agriculture, forestry, animal husbandry, and fishery industry and the mining industry. Our results also reveal that the shortage of certain financial resources seriously affects the financial service efficiency. Based on the results, we offer policy recommendations to facilitate financial service improvement. For instance, Chinese government should make efforts to promote collaborative development among industries and to reduce the financial service efficiency gap in different industries.</p>\u0000 </div>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"47 3","pages":"740-755"},"PeriodicalIF":2.7,"publicationDate":"2026-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147567679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0