Jun 2007, Volume 1 Issue 2

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  • LIU Yi, QIAN Liping, YIN Jian
    This study examines the dynamic nature of suppliers  perceived relational risks arising from transaction-specific investments (TSIs) in their relationship with manufacturers, and the moderating effects of contracts and relational norms, during the developmental process of manufacturer-supplier relationship. An empirical study was conducted with data collected from 261 suppliers and manufacturers in the Chinese consumer electronic appliances sector. We found that suppliers  TSIs have a positive effect on their perceived relational risks, and in different phases of a relationship effect varies significantly. Results of the research also show that both contracts and relational norms have negative moderating effects on the relationship between suppliers  TSIs and their perceived relational risks, and moderating effects during are different across various phases of a relationship.
  • FU Guoqun, DING Jiali
    A two levels of product similarity times two levels of brand image consistency times three levels of ownerships factorial experiment was designed to explore the ownership effects when consumers evaluate brand extensions and judge parent brand after receiving brand extension information. Evidence shows that ownership effects do exist in both extension and parent brand evaluations. Brand image consistency is the most influential factor for parent brand owners while product similarity is more important factor for non-users in attitude formation towards the extension. The owners of competitive brands favor low image consistency extension more than high image consistency extension. Furthermore, there is an interaction effect between brand image consistency and product similarity for brand owners, whereas this effect is non-existent for non-owners and non-users. This again shows that brand owners care much more about brand image consistency than other consumer groups do. In evaluating a parent brand, owners and non-owners differ. The authors draw the conclusion that consumers  brand extension evaluation is more like a benefit oriented  process rather than a pure affect transfer  process.
  • WANG Xia, ZHAO Ping, WANG Gao, LIU Jia
    There exist different views and opinions on the links between customer satisfaction and loyalty. This paper suggests that the impact of customer satisfaction on loyalty varies across customers. This study choose the cell phone industry in China as an example and segmented customers with a novel method of clusterwise linear regression, based on the association between customer satisfaction and loyalty. Results revealed sample heterogeneity in relation to the two factors. The loyalty of some subgroups is positively related to satisfaction significantly, while that of other clusters is independent of satisfaction.
  • XIE Hongming, CHEN Chunhui, LIU Changyong
    The purpose of this paper is to examine the relationships among market orientation, learning orientation, organizational innovation and organizational performance through a structural equation modeling approach. This study uses a sample of 143 companies in the Pearl River Delta region of China. Results show that (1) market orientation has no positive direct impact on organizational performance; (2) market orientation has a direct impact on learning orientation; (3) learning orientation has a direct impact on administrative and technical innovation; (4) market orientation has a direct impact on organizational innovation by learning orientation; (5) administrative innovation has a positive direct impact on organizational performance while technical innovation does not impact on organizational performance directly; (6) technical innovation has a positive impact on administrative innovation; (7) learning orientation has an indirect impact on organizational performance through influencing organizational innovation; (8) market orientation has impact on learning orientation, which has an impact on organizational innovation, which in turn has an impact on organizational performance. Managerial implications are discussed, along with suggestions for further research.
  • HAN Liyan, MOU Hui, XIE Duo, CHEN Zhi′an
    This paper empirically shows that the announcements of the issue of convertible bonds (CBs) by Chinese firms have significant negative effects on shareholders  wealth. We find that when the samples are partitioned by equity component negative market responses towards the announcements of issuing equity-like CBs are more than that of debt-like CBs. This finding is different from the pecking order hypothesis  of Myers and Majluf (1984). By analyzing the firm characteristics of convertible bond issuers, we find that the wealth effects are negatively related to equity component, firm size and issue size of convertible bonds, and are positively related to financial leverage, liquidity structure of equity, book value of non-liquidity equity and market-to-book ratio. The underlying reason of equity finance taking precedence of bond finance in Chinese capital market can be attributed the to special two-system-ownership structure  and corporate governance of Chinese listed companies.
  • WANG Xiaohui, YANG Baiyin
    By using a Western concept the instrument called dimensions of learning organization questionnaire (DLOQ), and the data collected from 919 employees in nine companies located in Guangdong Province, China, the present empirical study explores the culture of learning organizations in Chinese business settings. Findings suggest that the DLOQ is applicable to the context of China as well, and those demographic variables, such as age and educational level, together with the types of ownership of Chinese companies, such as state-owned enterprises (SOEs) and privately-owned enterprises (POEs), suggest differences in the culture of learning organizations. Results also indicate that the learning organization culture of a firm has strongly positive impact on employees  job satisfaction and perceived organizational performance. Two implications should be noted. First, as employees in middle age and with college education show the strongest sense of improving the learning culture, it can be inferred that demographic characters and groups may influence the organization s learning culture differently. Second, as POEs have a better learning atmosphere than SOEs, it can be inferred that POEs have a stronger competitiveness than SOEs in terms of learning ability and organizational performance. To indigenize the Western construct and instrument of learning organizations, the present study, as an exploratory research, gives substantial knowledge on the subject and seeks to fill the gap in the literature, despite the limitations of cultural nuances and a narrowly-concentrated sample.
  • ZHOU Zhimin
    The aim of this research is to develop a new evaluation approach based on a brand relationship index model (BRI model), which includes a three stage study on the indicator system; indicator weight; and indicator integration. Based on brand identity theory and interpersonal relationship theory, four-brand relationship participants and three-brand relationship natures are put forward to make up a hypothesis of twelve-dimension brand relationships. Through a series of empirical studies based on exploratory factor analysis (EFA) and confirmatory factor analysis (CFA), a five-dimension structure of brand relationships is obtained, which is the basis of the indicator system. Indicator weight is calculated by the normalization of path coefficients derived from a second order factor analysis of the five dimensions. Indicator integration is based on the Weighted Sum method. Based on these three ingredients, the brand relationship index (BRI) model is developed. According to analysis of data on ten mobile phone brands, the BRI model is tested.
  • LIU Ke, GAO Mengtao
    Based on consumer and manufacturer behaviors, this research describes local governments  unique role in the process of attracting foreign direct investment (FDI) . Drawing from a sample of 28 provinces plus four cities throughout China from 1998 to 2004, we construct an econometric model in this paper to analyze the common factors that influenced the result of attracting FDI . The main finding of this paper is that in the process of attracting FDI , local governments play a decisive role, which puts consumer surplus, producer surplus and the other social welfare into a basket to construct its plan for attracting FDI . The common factors which influence the result of attracting FDI  are local costs, the number of foreign-invested company, the market share of local companies, and the market share of foreign-invested companies.