A Causal Configuration Analysis of Payment Decision Drivers in Paid Q&A

Purpose:This paper examines factors of payment decision as well as the role each factor plays in casual configurations leading to high payment intention under systematic and heuristic information processing routes.Design/methodology/approach:Based on heuristic-systematic model(HSM),we propose a configurational analytic framework to investigate complex casual relationships between influencing factors and payment decision.In line with this approach,we use fuzzy-set qualitative comparative analysis(fsQCA)to analyze data crawled from Zhihu.com.Findings:The number of previous consultations is a necessary element in all five equivalent configurations which lead to high intention in payment decision.The heuristic processing route plays a core role while the systematic processing route plays a peripheral role in payment decision-making process.Research limitations:Research is limited in that moderating effect of professional fields has not been considered in the framework.Practical implications:Configurations in results can assist managers of knowledge communities and paid Q&A service providers in the management of information elements to motivate more payment decision.Originality/value:This paper is one of the few studies to apply HSM theory and fsQCA method with respect to the payment decision in paid Q&A.

数字金融驱动小微企业创新的组态分析

将小微企业创新分为技术创新、组织创新、服务创新、营销创新和文化创新,采用模糊集定性比较分析(fsQCA)方法,从组态视角分析数字金融要素如何驱动小微企业创新。研究发现单个数字金融要素并不构成提高小微企业创新的必要条件,但不同要素的联合效应能够有效推动小微企业5种创新;数字金融驱动小微企业不同类型高创新的组态存在差异,但网络信贷作为核心条件存在于每一种组态中;数字金融驱动小微企业不同类型高创新的组态可以归纳为3种驱动模式,包括纵深主导型、广度深度协同发展型和多元化均衡发展型。因此,推动小微企业创新发展的过程中,不仅要因地制宜,合理规划数字金融不同要素的差序发展,还要因创新类型施策,充分发挥数字金融对小微企业多种创新的激励效应。

Exploring the Evolutionary Path of Digital Financial Inclusion in Guangdong Province,China

This study explores the development trajectory of digital financial inclusion in 21 cities in Guangdong Province through fuzzy-set qualitative comparative analysis(fsQCA).The findings emphasize that the success of digital financial inclusion goes beyond individual dimensions,forming a systematic initiative marked by multifaceted interaction among different disciplines.In the trajectory of high-level digital inclusive finance development,the study identifies economic prosperity and technological innovation as crucial elements,highlighting their centrality,and elucidates the synergistic collaboration between market mechanisms and government guidance.Furthermore,the study emphasizes the government’s pivotal role in supporting market mechanisms and guiding policies,highlighting the need to achieve a nuanced equilibrium in the digital financial inclusion strategy.In contrast,non-high-level development paths of digital inclusive finance show a spectrum of diversities,emphasizing the critical roles played by economic fundamentals,government regulation,market mechanisms,and other contextual factors in different trajectories.Regarding policy implications,the study emphasizes the comprehensive and systemic nature inherent in the development of digital inclusive finance.It proposes four policy recommendations,including integrating development strategies,emphasizing scientific and technological innovation and economic development,achieving a delicate balance between market mechanisms and government guidance,and providing precise policy support.These insights provide valuable lessons for shaping digital inclusive financial policies in Guangdong Province and beyond,offering profound insights for strategically constructing robust digital financial ecosystems.

Research on the High-Quality Development Path of Listed Private Education Groups

The rapid growth of the education industry and private education groups has brought the high-quality development of listed private education companies into focus for both the educational sector and the capital market.This study employs the fuzzy-set qualitative comparative analysis(fsQCA)method to explore pathways to high-quality development for these companies.Necessity analysis confirms that no single factor guarantees a company’s success,highlighting the importance of multi-factor interactions.Three main paths to high-quality development are identified:human resource optimization,precise market positioning,and comprehensive advantage.Conversely,four development paths for non-high-level companies are identified:dual insufficiency in resources and market,high turnover and over-investment,scale expansion with resource mismatch,and inadequate human resource development.The findings indicate that optimal allocation of educational resources,precise market positioning,rational resource allocation,and staff training are crucial for achieving high-quality development.Robustness tests,which raise the consistency threshold,verify the reliability and stability of the results.These findings provide a reference for policymakers,investors,and managers in the education industry.

The Role of Institutions:A Cross-country Analysis of Renminbi Trading in Foreign Exchange Markets

We explore how China's geographically targeted policies impact RMB overseas use individually or in combination.The policies include swap agreements,clearing banks,investment quotas,and direct trading between Chinese renminbi(RMB)and non-USD currencies.Adopting a fuzzy-set qualitative comparative analysis and using Bank of International Settlements cross-country data on foreign exchange markets,we find that institution building has lowered the barriers to international adoption of the RMB.Specifically,for countries economically close to China,high RMB trading is explained by either(i)having a clearing bank in the host market and direct quotations between the RMB and the local currency,or(ii)being a financial center and having access to the Chinese capital market.This combination of policies is explained by the creation of(i)"trading posts"that provide RMB liquidity abroad,and(ii)channels that allow actors to " recycle" offshore RMB funds.We triangulate our results with interviews conducted with senior People’s Bank of China officials.