Due to industry characteristics or regional limitations,many students in certain majors tend to seek employment in small and medium-sized enterprises(SMEs).SMEs face certain challenges in implementing industry-educati...Due to industry characteristics or regional limitations,many students in certain majors tend to seek employment in small and medium-sized enterprises(SMEs).SMEs face certain challenges in implementing industry-education integration,and there is a lack of mature methods in specific implementation processes and talent cultivation plan generation.Taking the landscape architecture profession as an example,this paper conducts a correlation analysis and cross-analysis of the industry-required professional skills based on surveys of over 300 industry practitioners employed in SMEs.It provides professional skill cultivation modules based on market feedback.This research process and analysis method have certain reference significance for the rapid production of adaptive talent cultivation professional skill modules in other industries targeting SMEs.展开更多
As a necessary factor for a successful business,entrepreneurial spirit is an important means for enterprises to survive in the unstable environment of fierce competition. Under the circumstance of mass entrepreneurshi...As a necessary factor for a successful business,entrepreneurial spirit is an important means for enterprises to survive in the unstable environment of fierce competition. Under the circumstance of mass entrepreneurship and innovation,a large number of small and medium-sized private enterprises have emerged in all walks of life in China. This paper examines the differences in the definition of entrepreneurial spirit by different scholars,the influence of Chinese entrepreneurship on the development of small and medium-sized private enterprises,the origin of the spirit of private entrepreneurs with Chinese characteristics,and the disadvantages of the spirit of small and medium-sized private entrepreneurs in China. It is necessary to further improve entrepreneurial spirit to contribute to the development of small and medium-sized private enterprises and help China to build the national economic system.展开更多
The survival and development of SMEs (small and medium enterprises) is an important issue for the Chinese economy. In particular, business succession in SMEs is a persistent issue. Business succession involves selecti...The survival and development of SMEs (small and medium enterprises) is an important issue for the Chinese economy. In particular, business succession in SMEs is a persistent issue. Business succession involves selection of a successor, asset inheritance, transfer of management rights, accumulation of business connections and technology succession, and soforth. This all requires smooth execution of a business succession plan. However, many SMEs do not have a business succession plan, nor are they preparing one. Our task is to explore the reasons these preparations are not being made. Here, the purpose of our research is to get a picture of the status of preparations for business succession in SMEs in China, and the actual circumstances of succession, based on the results of a fact-finding survey of Chinese SMEs, and at the same time bring to the surface the primary factors which influence preparations and plans. The results of the analysis shed light on the status of business succession preparations, successor’s awareness of issues, decision making, and so on. This survey highlights the awareness of business succession among business managers.展开更多
For a long time, under the influence of system and environment and other factors, some small and medium-sized agricultural enterprises in China only seek growth of profit in quantity, but neglect the growth of profit ...For a long time, under the influence of system and environment and other factors, some small and medium-sized agricultural enterprises in China only seek growth of profit in quantity, but neglect the growth of profit in quality, leading to low profit quality. This study reasonably defines the concept of profit quality of small and medium-sized agricultural enterprises, and expounds general characteristics of high quality profit. On the basis of general factors influencing profit quality of enterprises, it builds indicator system for evaluating the profit quality of small and medium-sized agricultural enterprises. Also, it conducts an empirical analysis on profit quality of Chinese small and medium-sized enterprises with YM Industrial Co., Ltd in Guang'an City of Sichuan Province as an example.展开更多
Small and medium-sized enterprises greatly promote the economic progress and growth of national tax revenue as well as realize the escalation of career opportunities.However,as these enterprises are relatively small s...Small and medium-sized enterprises greatly promote the economic progress and growth of national tax revenue as well as realize the escalation of career opportunities.However,as these enterprises are relatively small scale and have low capacity to face and resist risks in addition to China's flawed financial credit system,there are many difficulties faced by these enterprises in terms of financing to achieve their own development and progress.Recently,owing to the progress of internet information,especially the expansion of its application in the financial field,it has opened up a way for handling the financing difficulties faced by small and medium-sized enterprises.According to the specific financing situation of small and mediumsized enterprises in China,this study analyzes the impact of internet finance on the financing of small and medium-sized enterprises in China and formulates strategies to effectively deal with the financing difficulties of small and medium-sized enterprises in China,thus promoting the sustainable progress of small and medium-sized enterprises.展开更多
Small and medium-sized enterprises are the foundation of China's national economy,and they are important forces to promote economic and social development.They play an irreplaceable role in promoting scientific an...Small and medium-sized enterprises are the foundation of China's national economy,and they are important forces to promote economic and social development.They play an irreplaceable role in promoting scientific and technological progress,increasing social employment,expanding foreign trade,and other aspects in which they have become an important part of China's socialist market economy.Based on the research background of international trade financing,this paper analyzes the problems existing in the international trade fmancing of small and medium-sized enterprises in China to put forward countermeasures and suggestions,hoping to help these small and medium-sized enterprises solve the financing problem so as to achieve a healthy development in the international trade market environment.展开更多
With China’s entry into WTO, China’s small and medium-sized enterprises are facing unprecedented opportunities and challenges. The integration of the world economy has brought opportunities for the internationalizat...With China’s entry into WTO, China’s small and medium-sized enterprises are facing unprecedented opportunities and challenges. The integration of the world economy has brought opportunities for the internationalization and industrialization of small and medium-sized enterprises. However, due to the lack of systematic marketing strategies, the development of small and medium-sized enterprises is beset with difficulties. From the perspective of marketing strategy, this paper analyzes the marketing strategy problems faced by small and medium-sized enterprises. From four aspects: marketing concept, marketing team, marketing strategy and marketing model 4P, this paper puts forward some countermeasures and suggestions for improving the marketing benefits of small and medium-sized enterprises.展开更多
Software engineering's lifecycle models havc proven to be very important for traditional software development. However, can these models be applied to the development of Web-based applications as well? In recent yea...Software engineering's lifecycle models havc proven to be very important for traditional software development. However, can these models be applied to the development of Web-based applications as well? In recent years, Web-based applications have become more and more complicated and a lot of efforts have been placed on introducing new technologies such as J2EE, PhP, and .NET, etc., which have been universally accepted as the development technologies for Web-based applications. However, there is no universally accepted process model for the development of Web-based applications. Moreover, shaping the process model for small medium-sized enterprises (SMEs), which have limited resources, has been relatively neglected. Based on our previous work, this paper presents an expanded lifecycle process model for the development of Web-based applications in SMEs. It consists of three sets of processes, i.e., requirement processes, development processes, and evolution processes. Particularly, the post-delivery evolution processes are important to SMEs to develop and maintain quality web applications with limited resources and time.展开更多
As a legal currency with the credit endorsement of the Chinese government,DC/EP has many advantages and special characteristics.Based on the application of DC/EP in the financing of small-and medium-sized enterprises(...As a legal currency with the credit endorsement of the Chinese government,DC/EP has many advantages and special characteristics.Based on the application of DC/EP in the financing of small-and medium-sized enterprises(SMEs),this paper studies the optimal financing decisions of SMEs under both the traditional financing mode and the DC/EP financing mode.Considering the construction and use costs of DC/EP and the role of DC/EP credit traceability in improving mortgage rates,this paper explores the feasible range for SMEs to select DC/EP financing.It is found that mortgage rates affect the returns of SMEs when they take on loans;under different credit strategies,the pledge rate set by the bank will affect the financing willingness of SMEs.The participants had different optimal mortgage rates to optimize the returns of borrowers and banks.High-quality SMEs are more willing to use the DC/EP platform for financing.With the increase in default costs,banks will be more inclined to use DC/EP,while enterprises will be inclined to utilize the traditional financing mode.Through the comparative analysis of the two financing modes,the default cost range that neither banks nor borrowers are willing to use DC/EP is found.This study provides theoretical support and management inspiration for scientific decision-making to solve the financing problems of SMEs by using DC/EP.展开更多
With the in-depth implementation of China's intellectual property strategy,the situation of intellectual property protection in China has been further improved,the enthusiasm of the public for entrepreneurship and...With the in-depth implementation of China's intellectual property strategy,the situation of intellectual property protection in China has been further improved,the enthusiasm of the public for entrepreneurship and innovation has been further stimulated,people's awareness of intellectual property rights has been further enhanced,and the value of intellectual property rights has been further recognized by people.As a new economic form,"intellectual property economy"plays an increasingly important role in our socialist market economy.At the same time,China's intellectual property still faces some prominent problems,especially in the field of intellectual property investment and financing,such as difficult valuation,management and liquidation.From the perspective of the implementation of intellectual property strategy and starting from the investment and financing of intellectual property rights of small and medium-sized enterprises,this paper introduces the basic concepts of intellectual property investment and financing,the development status and existing problems of intellectual property investment and financing of small and medium-sized enterprises,and puts forward some suggestions for improving the investment and financing policy of intellectual property rights.展开更多
Recently,data science techniques utilize artificial intelligence(AI)techniques who start and run small and medium-sized enterprises(SMEs)to take an influence and grow their businesses.For SMEs,owing to the inexistence...Recently,data science techniques utilize artificial intelligence(AI)techniques who start and run small and medium-sized enterprises(SMEs)to take an influence and grow their businesses.For SMEs,owing to the inexistence of consistent data and other features,evaluating credit risks is difficult and costly.On the other hand,it becomes necessary to design efficient models for predicting business failures orfinancial crises of SMEs.Various data classification approaches forfinancial crisis prediction(FCP)have been presented for predicting thefinancial status of the organization by the use of past data.A major process involved in the design of FCP is the choice of required features for enhanced classifier out-comes.With this motivation,this paper focuses on the design of an optimal deep learning-basedfinancial crisis prediction(ODL-FCP)model for SMEs.The proposed ODL-FCP technique incorporates two phases:Archimedes optimization algorithm based feature selection(AOA-FS)algorithm and optimal deep convo-lution neural network with long short term memory(CNN-LSTM)based data classification.The ODL-FCP technique involves a sailfish optimization(SFO)algorithm for the hyperparameter optimization of the CNN-LSTM method.The performance validation of the ODL-FCP technique takes place using a benchmarkfinancial dataset and the outcomes are inspected in terms of various metrics.The experimental results highlighted that the proposed ODL-FCP technique has out-performed the other techniques.展开更多
The small and scattered enterprise pattern in the county economy has formed numerous sporadic pollution sources, hindering the centralized treatment of the water environment, increasing the cost and difficulty of trea...The small and scattered enterprise pattern in the county economy has formed numerous sporadic pollution sources, hindering the centralized treatment of the water environment, increasing the cost and difficulty of treatment. How enterprises can make reasonable decisions on their water environment behavior based on the external environment and their own factors is of great significance for scientifically and effectively designing water environment regulation mechanisms. Based on optimal control theory, this study investigates the design of contractual mechanisms for water environmental regulation for small and medium-sized enterprises. The enterprise is regarded as an independent economic entity that can adopt optimal control strategies to maximize its own interests. Based on the participation of multiple subjects including the government, enterprises, and the public, an optimal control strategy model for enterprises under contractual water environmental regulation is constructed using optimal control theory, and a method for calculating the amount of unit pollutant penalties is derived. The water pollutant treatment cost data of a paper company is selected to conduct empirical numerical analysis on the model. The results show that the increase in the probability of government regulation and public participation, as well as the decrease in local government protection for enterprises, can achieve the same regulatory effect while reducing the number of administrative penalties per unit. Finally, the implementation process of contractual water environmental regulation for small and medium-sized enterprises is designed.展开更多
This study uses an unbalanced panel data analysis to examine the effects of social capital, top executive attributes and R &D on firm value in Chinese small and medium-sized enterprises (SMEs) listed on the Shenzhe...This study uses an unbalanced panel data analysis to examine the effects of social capital, top executive attributes and R &D on firm value in Chinese small and medium-sized enterprises (SMEs) listed on the Shenzhen Stock Exchange Small and Medium-sized Enterprises Board from 2007 to 2011. There are several interesting findings. First, the gender (male) and academic degree of the chairperson in the SMEs have a positive and significant effect on firm value. Second, social capital (measured by politieal connections, managerial business association networks and technology association networks) and R&D have a positive effect on SME firm value. Third, the effect of politieal connections on firm value for state-owned enterprises (SOEs) is stronger than for non-SOEs, while the effect of business and technology networks on firm value for non-SOEs is stronger than for SOEs. Our study has important policy implications for SMEs that want to compete successfully in China.展开更多
Buying work safety services from intermediaries is a new and important approach to improve the work safety in small and medium-sized enterprises(SMEs).The existing literature addresses the significance and effectivene...Buying work safety services from intermediaries is a new and important approach to improve the work safety in small and medium-sized enterprises(SMEs).The existing literature addresses the significance and effectiveness of the service model but it ignores the dynamic game relationship between relevant stakeholders when SMEs choose to purchase the services under bounded rationality.Therefore,this study aims to analyse this dynamic game relationship based on evolutionary game theory.Furthermore,dynamic simulations of the evolutionary game model are applied to determine the impact of major factors for three stakeholders(SMEs,governments,and safety service agents),examine stability strategies,and identify modes of equilibrium under different subsidy strategies.The results of simulation are as follows.First,the results explain that how the major factors(service price,the quality of service,government subsidy,etc.)affect the system dynamic force of buying work safety services.Second,when the subsidy strategy is static payment,the selection of the stakeholders fluctuates and is not optimal.Third,when the subsidy strategy is a dynamic payment,the evolutionary game process converges to a stable state,which indicates that an evolutionarily stable strategy exists under the dynamic subsidy strategy.Moreover,the stable state and equilibrium values are not affected by the different initial values.The results of this study offer a certain reference for the government to guide the implementation of the purchase of work safety or other services in SMEs.展开更多
Previous literature showed mixed results about the impact of CEOs’financial literacy(CFL)on small and medium-sized enterprises’(SMEs)innovation.This relationship can be motivated by relevant variables,which are miss...Previous literature showed mixed results about the impact of CEOs’financial literacy(CFL)on small and medium-sized enterprises’(SMEs)innovation.This relationship can be motivated by relevant variables,which are missing in the previous literature and make a difference as mediators.In this sense,based on the theoretical framework related to upper echelon theory and resource-based view,this study focuses on the mediating effect of risk-taking attitude and management control systems(MCS)varia-bles.Empirical data from 310 SMEs gathered using a qualitative research questionnaire are analyzed using structural equation modeling methodology.Specifically,estimations are carried out considering the partial least square method.Findings show that MCS and managers’risk attitudes fully mediate the relationship between financial literacy(FL)and innovation.Between these two mediating variables,the implementation of MCS stands out because it also enables the mediating effect of CEOs’risk-taking in the CFL–technological innovation relationship.As the results do not support the significant direct relationship between FL and risk attitude,they confirm an indirect effect through MCS.Furthermore,based on the study findings,SMEs’directors and owners,business associations,and public authorities can improve SMEs’technological innovation by implementing training programs and policies to foster CFL.They can also acknowledge the interdependency between organizational factors and individual characteristics to enhance SMEs’technological innovation.展开更多
基金Yunnan Provincial Department of Education Scientific Research Fund Project“Construction and Development of‘Loose-Leaf’Teaching Material Resources for Landscape Engineering Vocational Education”(Project number:2022J1725)。
文摘Due to industry characteristics or regional limitations,many students in certain majors tend to seek employment in small and medium-sized enterprises(SMEs).SMEs face certain challenges in implementing industry-education integration,and there is a lack of mature methods in specific implementation processes and talent cultivation plan generation.Taking the landscape architecture profession as an example,this paper conducts a correlation analysis and cross-analysis of the industry-required professional skills based on surveys of over 300 industry practitioners employed in SMEs.It provides professional skill cultivation modules based on market feedback.This research process and analysis method have certain reference significance for the rapid production of adaptive talent cultivation professional skill modules in other industries targeting SMEs.
基金Supported by Special Youth Project"A Comparative Study on the Cultivation Mode of Innovative Entrepreneurship Talents in China and South Korea"(120-1452226)
文摘As a necessary factor for a successful business,entrepreneurial spirit is an important means for enterprises to survive in the unstable environment of fierce competition. Under the circumstance of mass entrepreneurship and innovation,a large number of small and medium-sized private enterprises have emerged in all walks of life in China. This paper examines the differences in the definition of entrepreneurial spirit by different scholars,the influence of Chinese entrepreneurship on the development of small and medium-sized private enterprises,the origin of the spirit of private entrepreneurs with Chinese characteristics,and the disadvantages of the spirit of small and medium-sized private entrepreneurs in China. It is necessary to further improve entrepreneurial spirit to contribute to the development of small and medium-sized private enterprises and help China to build the national economic system.
文摘The survival and development of SMEs (small and medium enterprises) is an important issue for the Chinese economy. In particular, business succession in SMEs is a persistent issue. Business succession involves selection of a successor, asset inheritance, transfer of management rights, accumulation of business connections and technology succession, and soforth. This all requires smooth execution of a business succession plan. However, many SMEs do not have a business succession plan, nor are they preparing one. Our task is to explore the reasons these preparations are not being made. Here, the purpose of our research is to get a picture of the status of preparations for business succession in SMEs in China, and the actual circumstances of succession, based on the results of a fact-finding survey of Chinese SMEs, and at the same time bring to the surface the primary factors which influence preparations and plans. The results of the analysis shed light on the status of business succession preparations, successor’s awareness of issues, decision making, and so on. This survey highlights the awareness of business succession among business managers.
文摘For a long time, under the influence of system and environment and other factors, some small and medium-sized agricultural enterprises in China only seek growth of profit in quantity, but neglect the growth of profit in quality, leading to low profit quality. This study reasonably defines the concept of profit quality of small and medium-sized agricultural enterprises, and expounds general characteristics of high quality profit. On the basis of general factors influencing profit quality of enterprises, it builds indicator system for evaluating the profit quality of small and medium-sized agricultural enterprises. Also, it conducts an empirical analysis on profit quality of Chinese small and medium-sized enterprises with YM Industrial Co., Ltd in Guang'an City of Sichuan Province as an example.
文摘Small and medium-sized enterprises greatly promote the economic progress and growth of national tax revenue as well as realize the escalation of career opportunities.However,as these enterprises are relatively small scale and have low capacity to face and resist risks in addition to China's flawed financial credit system,there are many difficulties faced by these enterprises in terms of financing to achieve their own development and progress.Recently,owing to the progress of internet information,especially the expansion of its application in the financial field,it has opened up a way for handling the financing difficulties faced by small and medium-sized enterprises.According to the specific financing situation of small and mediumsized enterprises in China,this study analyzes the impact of internet finance on the financing of small and medium-sized enterprises in China and formulates strategies to effectively deal with the financing difficulties of small and medium-sized enterprises in China,thus promoting the sustainable progress of small and medium-sized enterprises.
文摘Small and medium-sized enterprises are the foundation of China's national economy,and they are important forces to promote economic and social development.They play an irreplaceable role in promoting scientific and technological progress,increasing social employment,expanding foreign trade,and other aspects in which they have become an important part of China's socialist market economy.Based on the research background of international trade financing,this paper analyzes the problems existing in the international trade fmancing of small and medium-sized enterprises in China to put forward countermeasures and suggestions,hoping to help these small and medium-sized enterprises solve the financing problem so as to achieve a healthy development in the international trade market environment.
文摘With China’s entry into WTO, China’s small and medium-sized enterprises are facing unprecedented opportunities and challenges. The integration of the world economy has brought opportunities for the internationalization and industrialization of small and medium-sized enterprises. However, due to the lack of systematic marketing strategies, the development of small and medium-sized enterprises is beset with difficulties. From the perspective of marketing strategy, this paper analyzes the marketing strategy problems faced by small and medium-sized enterprises. From four aspects: marketing concept, marketing team, marketing strategy and marketing model 4P, this paper puts forward some countermeasures and suggestions for improving the marketing benefits of small and medium-sized enterprises.
文摘Software engineering's lifecycle models havc proven to be very important for traditional software development. However, can these models be applied to the development of Web-based applications as well? In recent years, Web-based applications have become more and more complicated and a lot of efforts have been placed on introducing new technologies such as J2EE, PhP, and .NET, etc., which have been universally accepted as the development technologies for Web-based applications. However, there is no universally accepted process model for the development of Web-based applications. Moreover, shaping the process model for small medium-sized enterprises (SMEs), which have limited resources, has been relatively neglected. Based on our previous work, this paper presents an expanded lifecycle process model for the development of Web-based applications in SMEs. It consists of three sets of processes, i.e., requirement processes, development processes, and evolution processes. Particularly, the post-delivery evolution processes are important to SMEs to develop and maintain quality web applications with limited resources and time.
基金Supported by the National Natural Science Foundation of China (71932002)General Projects of Social Science Program of Beijing Municipal Commission of Education,China (SM202010005005)。
文摘As a legal currency with the credit endorsement of the Chinese government,DC/EP has many advantages and special characteristics.Based on the application of DC/EP in the financing of small-and medium-sized enterprises(SMEs),this paper studies the optimal financing decisions of SMEs under both the traditional financing mode and the DC/EP financing mode.Considering the construction and use costs of DC/EP and the role of DC/EP credit traceability in improving mortgage rates,this paper explores the feasible range for SMEs to select DC/EP financing.It is found that mortgage rates affect the returns of SMEs when they take on loans;under different credit strategies,the pledge rate set by the bank will affect the financing willingness of SMEs.The participants had different optimal mortgage rates to optimize the returns of borrowers and banks.High-quality SMEs are more willing to use the DC/EP platform for financing.With the increase in default costs,banks will be more inclined to use DC/EP,while enterprises will be inclined to utilize the traditional financing mode.Through the comparative analysis of the two financing modes,the default cost range that neither banks nor borrowers are willing to use DC/EP is found.This study provides theoretical support and management inspiration for scientific decision-making to solve the financing problems of SMEs by using DC/EP.
文摘With the in-depth implementation of China's intellectual property strategy,the situation of intellectual property protection in China has been further improved,the enthusiasm of the public for entrepreneurship and innovation has been further stimulated,people's awareness of intellectual property rights has been further enhanced,and the value of intellectual property rights has been further recognized by people.As a new economic form,"intellectual property economy"plays an increasingly important role in our socialist market economy.At the same time,China's intellectual property still faces some prominent problems,especially in the field of intellectual property investment and financing,such as difficult valuation,management and liquidation.From the perspective of the implementation of intellectual property strategy and starting from the investment and financing of intellectual property rights of small and medium-sized enterprises,this paper introduces the basic concepts of intellectual property investment and financing,the development status and existing problems of intellectual property investment and financing of small and medium-sized enterprises,and puts forward some suggestions for improving the investment and financing policy of intellectual property rights.
文摘Recently,data science techniques utilize artificial intelligence(AI)techniques who start and run small and medium-sized enterprises(SMEs)to take an influence and grow their businesses.For SMEs,owing to the inexistence of consistent data and other features,evaluating credit risks is difficult and costly.On the other hand,it becomes necessary to design efficient models for predicting business failures orfinancial crises of SMEs.Various data classification approaches forfinancial crisis prediction(FCP)have been presented for predicting thefinancial status of the organization by the use of past data.A major process involved in the design of FCP is the choice of required features for enhanced classifier out-comes.With this motivation,this paper focuses on the design of an optimal deep learning-basedfinancial crisis prediction(ODL-FCP)model for SMEs.The proposed ODL-FCP technique incorporates two phases:Archimedes optimization algorithm based feature selection(AOA-FS)algorithm and optimal deep convo-lution neural network with long short term memory(CNN-LSTM)based data classification.The ODL-FCP technique involves a sailfish optimization(SFO)algorithm for the hyperparameter optimization of the CNN-LSTM method.The performance validation of the ODL-FCP technique takes place using a benchmarkfinancial dataset and the outcomes are inspected in terms of various metrics.The experimental results highlighted that the proposed ODL-FCP technique has out-performed the other techniques.
文摘The small and scattered enterprise pattern in the county economy has formed numerous sporadic pollution sources, hindering the centralized treatment of the water environment, increasing the cost and difficulty of treatment. How enterprises can make reasonable decisions on their water environment behavior based on the external environment and their own factors is of great significance for scientifically and effectively designing water environment regulation mechanisms. Based on optimal control theory, this study investigates the design of contractual mechanisms for water environmental regulation for small and medium-sized enterprises. The enterprise is regarded as an independent economic entity that can adopt optimal control strategies to maximize its own interests. Based on the participation of multiple subjects including the government, enterprises, and the public, an optimal control strategy model for enterprises under contractual water environmental regulation is constructed using optimal control theory, and a method for calculating the amount of unit pollutant penalties is derived. The water pollutant treatment cost data of a paper company is selected to conduct empirical numerical analysis on the model. The results show that the increase in the probability of government regulation and public participation, as well as the decrease in local government protection for enterprises, can achieve the same regulatory effect while reducing the number of administrative penalties per unit. Finally, the implementation process of contractual water environmental regulation for small and medium-sized enterprises is designed.
文摘This study uses an unbalanced panel data analysis to examine the effects of social capital, top executive attributes and R &D on firm value in Chinese small and medium-sized enterprises (SMEs) listed on the Shenzhen Stock Exchange Small and Medium-sized Enterprises Board from 2007 to 2011. There are several interesting findings. First, the gender (male) and academic degree of the chairperson in the SMEs have a positive and significant effect on firm value. Second, social capital (measured by politieal connections, managerial business association networks and technology association networks) and R&D have a positive effect on SME firm value. Third, the effect of politieal connections on firm value for state-owned enterprises (SOEs) is stronger than for non-SOEs, while the effect of business and technology networks on firm value for non-SOEs is stronger than for SOEs. Our study has important policy implications for SMEs that want to compete successfully in China.
基金The authors gratefully acknowledge the funding support from the National Natural Science Foundation of China under Grant Nos.72074099,71874072 and 72004081the MOE(Ministry of Education in China)Project of Humanities and Social Sciences under Grant No.19YJAZH059+2 种基金the Social Science Fund of Jiangsu Province under Grant No.20GLB009the Soft Science Project of Zhenjiang City under Grant No.RK2020013the Scientific Research Project Funds of Jiangsu University under Grant No.18C335.
文摘Buying work safety services from intermediaries is a new and important approach to improve the work safety in small and medium-sized enterprises(SMEs).The existing literature addresses the significance and effectiveness of the service model but it ignores the dynamic game relationship between relevant stakeholders when SMEs choose to purchase the services under bounded rationality.Therefore,this study aims to analyse this dynamic game relationship based on evolutionary game theory.Furthermore,dynamic simulations of the evolutionary game model are applied to determine the impact of major factors for three stakeholders(SMEs,governments,and safety service agents),examine stability strategies,and identify modes of equilibrium under different subsidy strategies.The results of simulation are as follows.First,the results explain that how the major factors(service price,the quality of service,government subsidy,etc.)affect the system dynamic force of buying work safety services.Second,when the subsidy strategy is static payment,the selection of the stakeholders fluctuates and is not optimal.Third,when the subsidy strategy is a dynamic payment,the evolutionary game process converges to a stable state,which indicates that an evolutionarily stable strategy exists under the dynamic subsidy strategy.Moreover,the stable state and equilibrium values are not affected by the different initial values.The results of this study offer a certain reference for the government to guide the implementation of the purchase of work safety or other services in SMEs.
文摘Previous literature showed mixed results about the impact of CEOs’financial literacy(CFL)on small and medium-sized enterprises’(SMEs)innovation.This relationship can be motivated by relevant variables,which are missing in the previous literature and make a difference as mediators.In this sense,based on the theoretical framework related to upper echelon theory and resource-based view,this study focuses on the mediating effect of risk-taking attitude and management control systems(MCS)varia-bles.Empirical data from 310 SMEs gathered using a qualitative research questionnaire are analyzed using structural equation modeling methodology.Specifically,estimations are carried out considering the partial least square method.Findings show that MCS and managers’risk attitudes fully mediate the relationship between financial literacy(FL)and innovation.Between these two mediating variables,the implementation of MCS stands out because it also enables the mediating effect of CEOs’risk-taking in the CFL–technological innovation relationship.As the results do not support the significant direct relationship between FL and risk attitude,they confirm an indirect effect through MCS.Furthermore,based on the study findings,SMEs’directors and owners,business associations,and public authorities can improve SMEs’technological innovation by implementing training programs and policies to foster CFL.They can also acknowledge the interdependency between organizational factors and individual characteristics to enhance SMEs’technological innovation.