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Excess is just as bad as deficiency: Parent director appointments and subsidiary innovation input 过剩与不足同样糟糕：母公司董事任命与子公司创新投入
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-22 DOI: 10.1002/mde.4322
Chenyan Wang, Songqin Ye, Xiufan Zhang
{"title":"Excess is just as bad as deficiency: Parent director appointments and subsidiary innovation input","authors":"Chenyan Wang,&nbsp;Songqin Ye,&nbsp;Xiufan Zhang","doi":"10.1002/mde.4322","DOIUrl":"10.1002/mde.4322","url":null,"abstract":"<p>Corporate parents are important to subsidiary development. Drawing on the parent–subsidiary relationship perspective, this paper examines the impact of parent director appointments on subsidiary innovation input. Although existing research indicates that disproportional board representation can enhance control, the literature is silent on the effects of proportional board representation. Using a sample of listed nonfinancial Chinese subsidiaries between 2007 and 2021, we find that parent director appointments in line with shareholdings significantly enhance subsidiary innovation input. The positive effect is more pronounced when the parent appoints an executive manager, and the subsidiary operates in regions with a favorable institutional environment. Based on the analysis of innovation willingness and resource, the mechanism test reveals that parent moderate appointment of directors can improve innovation input by alleviating financial constraints and fostering a greater appetite for risk.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 8","pages":"5306-5321"},"PeriodicalIF":2.5,"publicationDate":"2024-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141817195","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
Management myopia and green investment: Evidence from China 管理近视与绿色投资：来自中国的证据
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-22 DOI: 10.1002/mde.4317
Meilin Jin, Xinyao Li, Bei Liu, Jincheng Li
{"title":"Management myopia and green investment: Evidence from China","authors":"Meilin Jin,&nbsp;Xinyao Li,&nbsp;Bei Liu,&nbsp;Jincheng Li","doi":"10.1002/mde.4317","DOIUrl":"10.1002/mde.4317","url":null,"abstract":"<p>This paper examines the impact of management myopia on the investment behavior of green investors using A-share listed companies from 2004 to 2020 in China. The research reveals that management myopia significantly inhibits the investment behavior of green investors. Through corporate reputation and the development of green technologies, management myopia affects the investment intentions of green investors. Environmental project subsidies do not mitigate the negative impact of management myopia on green investment intentions. Interestingly, compared to environmentally friendly projects categorized under “profit-related” and “reward” headings, subsidies in the form of environmental project grants exacerbate the inhibitory effect of management myopia on green investment.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 8","pages":"5290-5305"},"PeriodicalIF":2.5,"publicationDate":"2024-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141815368","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
Guarding the lifeline: A game-theoretical approach to combating emergency supplies counterfeits 守卫生命线：打击应急物资假冒伪劣的博弈论方法
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-19 DOI: 10.1002/mde.4326
Yue Wang, Ming Liu
{"title":"Guarding the lifeline: A game-theoretical approach to combating emergency supplies counterfeits","authors":"Yue Wang,&nbsp;Ming Liu","doi":"10.1002/mde.4326","DOIUrl":"10.1002/mde.4326","url":null,"abstract":"<p>After emergency incidents, the issue of emergency supplies counterfeiting persists. Relying solely on government intervention often falls short of preventing fraud related to emergency supplies counterfeiting. Hence, this paper explores a new anti-counterfeiting approach for emergency supplies, led by the government with legitimate manufacturers' support, and establishes a differential game model based on consumer demand, legitimate manufacturers reputation, and anti-counterfeiting efforts. Upon exploring the anti-counterfeiting efforts and benefits for two participants, and systems in three scenarios, we find that system benefits, legitimate manufacturer reputation, and respective gains for both participants are the highest in the collaboration scenario. However, compared with a no-cost-sharing scenario, the cost-sharing scenario achieves a Pareto improvement in both social welfare and legitimate manufacturer benefits, with the government choosing to share a portion of the anti-counterfeiting cost for legitimate manufacturers only under certain conditions.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 8","pages":"5265-5279"},"PeriodicalIF":2.5,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141740712","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
Navigating intellectual property challenges in China: Insights from RCEP and domestic factors 应对中国的知识产权挑战：RCEP 和国内因素的启示
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-19 DOI: 10.1002/mde.4257
Zhixiao Wu, Qian Qin
{"title":"Navigating intellectual property challenges in China: Insights from RCEP and domestic factors","authors":"Zhixiao Wu,&nbsp;Qian Qin","doi":"10.1002/mde.4257","DOIUrl":"10.1002/mde.4257","url":null,"abstract":"<p>In a high-quality economic era, China needs innovative development. Intellectual property (IP) innovation and development are the first driving forces in China. At the same time, China has signed the Regional Comprehensive Economic Partnership agreement (RCEP), which has had a significant impact on the development of China's IP law. Under the combination of these two factors, China's IP innovation and development environment are worth studying. This paper uses the “factor analysis method” from five dimensions, including initiatives for civic awareness, regional IP development foundation, legislative support, law enforcement measures, and judicial protection, to study the development environment of IP innovation in 31 provincial regions in China, in the past 3 years. It is found that IP development in various regions of China is insufficient in some way, and the scores of different provinces vary greatly, so it will inevitably affect the development of China's IP integrally and then affect the construction process of strong provinces and cities with intellectual property rights (IPR). The novelty of this research is its in-depth investigation into how the RCEP and global partnerships are influencing the transformation of China's intellectual property landscape. This transformation requires legal adjustments and underscores the importance of specialized IP judge training, alignment with international norms, and regional IP progress to realize China's ambition of becoming a dominant force in intellectual property. Combined with the fact that RCEP has come into effect in China and has had a significant impact, it is necessary to develop China's IP undertaking from legislative, judicial, law enforcement, and international cooperation aspects.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 7","pages":"5196-5214"},"PeriodicalIF":2.5,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141821936","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
Optimization of cold chain logistics distribution paths for community buying considering cost and time window: The case of J Center 考虑成本和时间窗口，优化社区购买的冷链物流配送路径：以 J 中心为例
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-19 DOI: 10.1002/mde.4319
Qun Feng, Wei Hua, Chuanhao Chen, Xuejun Shi, Junyun Ma
{"title":"Optimization of cold chain logistics distribution paths for community buying considering cost and time window: The case of J Center","authors":"Qun Feng,&nbsp;Wei Hua,&nbsp;Chuanhao Chen,&nbsp;Xuejun Shi,&nbsp;Junyun Ma","doi":"10.1002/mde.4319","DOIUrl":"10.1002/mde.4319","url":null,"abstract":"<p>In recent years, the community group buying market has been developing rapidly, and the group buying categories are mainly fresh food, so one of the keys to the success of the community group buying platform lies in the supply chain logistics, in which the cold chain logistics is the key to guarantee the fresh food products for the time and quality. In this paper, on the combing research of the theories and problems of community group purchase, cold chain logistics, and vehicle path planning, in view of the existing problems of cold chain logistics and distribution business in Jinan distribution center of J company's community group purchase, taking into account the actual demand of the grid station and the characteristics of the fresh products to be stored at low temperatures, we constructed the optimization model of the cold chain logistics and distribution path that minimizes the total cost under the demand of the fuzzy time window of the grid station, and designed the distribution area is divided by using <i>K</i>-means clustering, and then, the distribution path in each sub-distribution area is optimized and solved by genetic algorithm, and then, the validity of the optimization scheme is verified, the number of distribution trucks used is reduced by two, and the distribution cost is reduced by 12.77%, and optimization measures such as promoting the standardization of warehousing and distribution, and creating a digital and integrated logistics information platform are proposed.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 8","pages":"5249-5264"},"PeriodicalIF":2.5,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141740714","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
Factors influencing the pricing of credit risk mitigation warrants in corporate bond financing 影响企业债券融资中信用风险缓释权证定价的因素
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-19 DOI: 10.1002/mde.4314
Qianlong Yu, Xu Zhang, Xiaohan Bai
{"title":"Factors influencing the pricing of credit risk mitigation warrants in corporate bond financing","authors":"Qianlong Yu,&nbsp;Xu Zhang,&nbsp;Xiaohan Bai","doi":"10.1002/mde.4314","DOIUrl":"10.1002/mde.4314","url":null,"abstract":"<p>In 2022, various Chinese regulatory authorities, including the China Securities Regulatory Commission (CSRC) and the State-owned Assets Supervision and Administration Commission (SASAC), jointly issued documents and convened seminars at the Shanghai and Shenzhen Stock Exchanges to highlight the importance of credit protection tools, particularly credit risk mitigation warrants (CRMWs), to bolster corporate bond market financing. However, empirical research on the factors influencing CRMW prices in the Chinese market remains scarce. This study examines the factors affecting CRMW creation prices using a sample of CRMWs issued between 2018 and 2023 and analyzes the macroeconomic factors, characteristics of the underlying issuers, and related financial instruments. This study employs Shapley decomposition to evaluate the contribution of each variable. The findings reveal that, on the macroeconomic front, the year-on-year GDP growth rate from the previous quarter and the loan balance of financial institutions significantly and negatively impact CRMW prices. Regarding the underlying issuers, the issuer's credit rating and return on net assets significantly negatively affect CRMW prices, whereas the asset–liability ratio and issuer age have a significant positive impact. Additionally, related financial instruments such as bond interest rates and the risk mitigation certificate term positively contribute to the coverage of the underlying bond term and have a significant positive impact on CRMW prices.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 7","pages":"5215-5226"},"PeriodicalIF":2.5,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141823877","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
Divisionalization in vertical structures 纵向结构中的分工
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-19 DOI: 10.1002/mde.4328
Lluís Bru, Ramon Fauli-Oller, José-Manuel Ordóñez-de-Haro
{"title":"Divisionalization in vertical structures","authors":"Lluís Bru,&nbsp;Ramon Fauli-Oller,&nbsp;José-Manuel Ordóñez-de-Haro","doi":"10.1002/mde.4328","DOIUrl":"10.1002/mde.4328","url":null,"abstract":"<p>We evaluate the incentives to create within-industry independent divisions once the vertical structure of the industry is considered. Divisionalization allows a firm to gain market share in the final market, but it also leads to an increase in total payments to the input supplier. The less competitive the upstream market, the more important the second effect will be, and this reduces the profitability of divisionalization. As a consequence, a less competitive upstream segment leads to a lower total number of divisions in equilibrium and a less competitive final market, harming end consumers who will face higher prices.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 8","pages":"5280-5289"},"PeriodicalIF":2.5,"publicationDate":"2024-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/mde.4328","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141740713","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Exploring the dynamic diffusion of low-carbon technology research and development among enterprises: Based on an evolutionary game model with a two-level heterogeneous social network 探索低碳技术研发在企业间的动态扩散：基于两级异质社会网络的演化博弈模型
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-17 DOI: 10.1002/mde.4309
Wen-qian Lou, Bin Wu, Feng Chen, Bo-wen Zhu
{"title":"Exploring the dynamic diffusion of low-carbon technology research and development among enterprises: Based on an evolutionary game model with a two-level heterogeneous social network","authors":"Wen-qian Lou,&nbsp;Bin Wu,&nbsp;Feng Chen,&nbsp;Bo-wen Zhu","doi":"10.1002/mde.4309","DOIUrl":"10.1002/mde.4309","url":null,"abstract":"<p>This study builds an evolutionary game model based on a social network composed of two sub-networks with different typologies, which respectively depict the connections of enterprises and consumers. Enterprises engage in evolutionary games to determine whether to invest in low-carbon technology (LCT) research and development (R&amp;D), while consumers select products based on the contrast effect. Our results show that carbon taxation and subsidies can increase the diffusion of LCT R&amp;D, but their marginal effectiveness decreases. Lowering the loan interest rate of enterprises with better green credit can promote LCT R&amp;D diffusion, while excessively lowering the threshold will inhibit that.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 7","pages":"5182-5195"},"PeriodicalIF":2.5,"publicationDate":"2024-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141740824","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
Do high administrative-level cities promote firm technological innovation? A novel analysis based on patent applications 行政级别高的城市会促进企业技术创新吗？基于专利申请的新颖分析
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-16 DOI: 10.1002/mde.4279
Ming Gao, Javier Cifuentes-Faura, Xiaoqian Liu, Han Li
{"title":"Do high administrative-level cities promote firm technological innovation? A novel analysis based on patent applications","authors":"Ming Gao,&nbsp;Javier Cifuentes-Faura,&nbsp;Xiaoqian Liu,&nbsp;Han Li","doi":"10.1002/mde.4279","DOIUrl":"10.1002/mde.4279","url":null,"abstract":"<p>This paper examines the impact of China's administrative hierarchy of cities on firm innovation through the incentive policies that mobilize local governments to promote firm innovation. Using difference-in-differences approach, this paper finds that high-level cities significantly and robustly enhance the number of firm patents. The results also suggest that alleviating firm financing constraints and leveraging human capital advantages are important mechanisms. In addition, high-level cities mainly facilitate non-state enterprises and small firms, and the quality of utility model patents was significantly lower and the quality of invention patents was higher in high-level cities. This paper also presents several policy implications.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 7","pages":"5159-5181"},"PeriodicalIF":2.5,"publicationDate":"2024-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141642584","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
The role of renewable energy and carbon dioxide emissions on the ESG market in European Union 可再生能源和二氧化碳排放对欧盟 ESG 市场的作用
IF 2.5 3区 经济学
Managerial and Decision Economics Pub Date : 2024-07-15 DOI: 10.1002/mde.4316
Kamel Si Mohammed, Ugur Korkut Pata, Vanessa Serret, Mustafa Tevfik Kartal
{"title":"The role of renewable energy and carbon dioxide emissions on the ESG market in European Union","authors":"Kamel Si Mohammed,&nbsp;Ugur Korkut Pata,&nbsp;Vanessa Serret,&nbsp;Mustafa Tevfik Kartal","doi":"10.1002/mde.4316","DOIUrl":"10.1002/mde.4316","url":null,"abstract":"<p>In view of global climate problems, public interest in the environment has recently evolved over decision economics. Accordingly, this study assesses the impact of carbon emission allowances (CEA), information technology (IT), renewable energy generation (REG), and carbon dioxide (CO<sub>2</sub>) on the environmental, social, governance (ESG) in the European Union (EU) by applying quantile-based models from January 2, 2019 to February 29, 2024. The outcomes demonstrate that CEA and IT have an increasing effect on the ESG with the moderating effect of economic policy uncertainty (EPU). REG has a declining effect on the ESG, while the EPU moderates the effect and makes the effect increasing across higher quantiles.</p>","PeriodicalId":18186,"journal":{"name":"Managerial and Decision Economics","volume":"45 7","pages":"5146-5158"},"PeriodicalIF":2.5,"publicationDate":"2024-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/mde.4316","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141649261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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