Top Read Articles

Published in last 1 year |

In last 2 years |

In last 3 years |

All

Please wait a minute...


For Selected: Download Citations EndNote Ris BibTeX Toggle Thumbnails

Select

The Marketization Level of Data Factors and Corporation Performance :Evidence from China Rongda Chen, Chen Wang, Chenxin Pan, Cheng Liu Chinese Journal of Management Science    2025, 33 (10): 1-11.   DOI: 10.16381/j.cnki.issn1003-207x.2024.1707 Abstract （1265）   HTML （19）    PDF（pc） （688KB）（589）       Knowledge map    Save In factor marketization process of China， advancing the market-oriented allocation of data factors is pivotal for enhancing their economic value. Systematically measuring regional data marketization levels is of significant importance， yet research in this area remains limited. An index is developed to measure this level， based on a theoretical framework of analyzing the definition and attributes of data factors. This index is constructed from three aspects： supply， development， and application （SCA） of data factor. The level across 30 provinces in China from 2014 to 2022 is measured， and further its impact on corporate performance within regions is examined， along with the underlying mechanisms. Empirical results show that the marketization of data factors significantly enhances corporate performance. Additionally， the analysis of mechanisms reveals that enhancing both governance structure and external supportive environment are important pathways through which the marketization of data factors influences corporate performance. However， this positive effect is less pronounced for corporations located in non-eastern regions of China and for state-owned enterprises， compared to their counterparts in the eastern areas and non-state-owned firms. Also， this effect exhibits significant industry-specific variations. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

The Formation and Development of China’s Management Science and Engineering Discipline Shanlin Yang, Chao Fu, Minglun Ren, Xinbao Liu, Yezheng Liu, Bing Jiang, Jianping Li, Changyong Liang, Zhe Liang, Liang Liang, Cuiqing Jiang, Jianling Jiao, Jun Pei, Shaobo Wei Chinese Journal of Management Science    2026, 34 (1): 1-27.   DOI: 10.16381/j.cnki.issn1003-207x.2025.2189 Abstract （1197）   HTML （68）    PDF（pc） （1028KB）（927）       Knowledge map    Save The formation and development of China’s Management Science and Engineering discipline are systematically examined from multiple perspectives， including the establishment and evolution of the disciplinary system， major research fields and methodologies， key characteristics of disciplinary development， and contributions to economic and social development. It is found that China’s Management Science and Engineering discipline possesses its own distinctive developmental context， disciplinary connotations， disciplinary structure， and independent academic contributions. As a comprehensive interdisciplinary field spanning the natural sciences， technical sciences， engineering sciences， humanities， and social sciences， its formation and development are grounded in the natural， technical， and engineering sciences and are deeply embedded in management practices across various domains of China’s economic and social development. The discipline has undergone three major stages the initial stage （1949—1977）， the recovery and reconstruction stage （1978 to the mid-to-late 1990s）， and the prosperity and innovation stage （from the mid-to-late 1990s to the present）. It has gradually developed research characteristics that are “problem-oriented， practice-driven， and innovation-oriented through interdisciplinary integration，” and has established a relatively mature disciplinary knowledge system encompassing 20 branch fields， including general management， systems management， behavioral management， operations research and optimization， and intelligent management. The discipline has made significant contributions to the advancement of global management science theory and practice and has become an indispensable component of the overall scientific system. The development of the discipline exhibits four core characteristics. First， it closely aligns with major national strategies and engineering practices， extracting localized theoretical insights—such as top-level design and system decomposition， technical coordination and interface management， and comprehensive integration—from landmark projects including the “Two Bombs， One Satellite” program and the Hong Kong–Zhuhai–Macao Bridge. Second， it emphasizes theoretical and methodological innovation， generating original theoretical achievements such as the Hall for Workshop of Metasynthetic Engineering， grey system theory， and extenics theory， while promoting the transformation of traditional management paradigms toward data- and AI-driven intelligent decision-making. Third， it integrates cultural inheritance with innovation by absorbing traditional Chinese management wisdom and realizing its modern transformation， thereby proposing new theories and methods such as Oriental management， harmonious management， Tao-based management， He-He management， and the Wuli-Shili-Renli （WSR） methodology. Fourth， rooted in China’s management practices， it has developed a diversified collaborative model characterized by “joint platform construction， collaborative project research， co-cultivation of talent， and shared institutional innovation，” while deepening international cooperation across multiple dimensions to advance disciplinary development. The discipline has also made important contributions to economic and social development. In the field of technological innovation management， it provides systematic management frameworks for major scientific and technological initiatives such as the China Space Station. In major engineering management， it offers scientific methodologies for addressing uncertainty in complex systems. In industrial development， it facilitates industrial transformation and upgrading through resource optimization and process innovation. In social governance， it enhances the efficiency of emergency response and public service delivery. Looking ahead， in response to new challenges and opportunities under evolving circumstances， the discipline will focus on emerging issues such as the deep integration of artificial intelligence and management， global supply chain restructuring， and green and sustainable development. It aims to achieve new breakthroughs in fundamental theories and key technologies， including complex system management and human-machine collaborative decision-making. At the same time， it is essential to further strengthen interdisciplinary integration with artificial intelligence and other fields， cultivate interdisciplinary talent， reform the talent training system， and provide more robust theoretical support and practical pathways for high-quality development and the modernization of national governance. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

The Research Progress and Prospects of Sustainable Supply Chain Management under the New Development Pattern Junjun Liu, Xiqiang Xia, Qinghua Zhu Chinese Journal of Management Science    2025, 33 (9): 213-226.   DOI: 10.16381/j.cnki.issn1003-207x.2024.1638 Abstract （1113）   HTML （1）    PDF（pc） （1194KB）（528）       Knowledge map    Save In recent years， the compounded and sustained impacts of major global events—including the COVID-19 pandemic， escalating geopolitical conflicts， and a new wave of technological advancements—have redefined global development trends. This evolving landscape is marked by increased macro-environmental uncertainties， a growing consensus on green development， and the accelerated pace of technological change. In response， the sustainable supply chain management （SSCM） of enterprises faces heightened challenges and pressures. Improving SSCM practices to navigate these complex challenges has become a focal area for both industry and academia. Amid efforts to enhance SSCM， numerous “pioneer” companies have emerged with successful practical initiatives and advanced management practices. These examples highlight the resilience and adaptability needed as businesses face supply chain disruptions and trade tensions. Today， stakeholders—including governments and consumers—demand greater environmental and social responsibility from supply chains， prompting companies to rethink and adjust their strategies and operations. Consequently， SSCM research has become increasingly important， shaping responses to the new global development patterns （Lee，. To address this need， a systematic review of recent advancements is provided in SSCM research. Employing the classic SSCM analytical framework of “drivers or pressures-practices-performance，”both quantitative and qualitative analyses of SSCM research published in major supply chain journals from 2020 to 2024 are conducted. Through this review， four major research topics are identified， including macro factors-climate change and carbon emissions， sustainable supply chain management under the impact of the new coronavirus pandemic， application of Industry 4.0 technologies and sustainable supply chain management， and sustainable governance of multilevel supply chains and supply chain networks-and the progress of their respective research is summarized. On this basis， the outlook of future research is presented from three aspects. The first is sustainable supply chain management in a dynamic environment， including three sub-research directions： sustainable supply chain management under the risk of chain breakage， sustainable supply chain management under the development of Industry 5.0 technology， and ESG responsibility of supply chains under new regulations. The second is sustainable supply chain management tools for triple-bottom-line objectives， which also includes three sub-research directions： green （low-carbon） financial tools empowering supply chain synergistic value， sustainable supply chain governance with multi-organizational participation under the perspective of value symbiosis， and industry standards for fine-tuned sustainable supply chain management. In addition， the theoretical needs and development of sustainable supply chain management are also discussed， including the expansion of theoretical frameworks in complex （dynamic） environments， interdisciplinary integration to enrich theories or explanatory mechanisms and theoretical discovery driven by new ideas or management practices. By carrying out literature review and summarizing the research progress， the understanding of the core topics of the current research on sustainable supply chain management under the new development pattern is facilitated， and a clear framework and direction for the subsequent research is also provided. Meanwhile， by summarizing the potential research directions， it provides a reference for scholars to further explore the sustainable development of supply chain. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Systemic Risk Backtesting and Connectedness of Chinese Financial Institutions: Evidence from MES and ΔCoVaR Zisheng Ouyang, Xuewei Zhou Chinese Journal of Management Science    2025, 33 (6): 14-26.   DOI: 10.16381/j.cnki.issn1003-207x.2022.1453 Abstract （1111）   HTML （2）    PDF（pc） （2918KB）（2340）       Knowledge map    Save The premise of preventing and defusing systemic risk is to accurately measure systemic risk. Through literature review， it is known that most of the existing research focuses on the measurement of systemic risk， and there is little literature evaluating the validity and accuracy of systemic risk. In addition， it is found that most of the literature mainly discusses the risk connectedness of financial institutions in the time domain， ignoring the connecting mechanism in the frequency domain. As a result， it focusy on two issues： （1） Backtesting the systemic risk of Chinese financial institutions to examine the effectiveness of MES and ΔCoVaR. （2） Based on the backtesting results of systemic risks， the risk connectedness among financial institutions is investigated by the quantile connectedness network in frequency.In response to the above problems， the following work is done： First， the MES and ΔCoVaR of 35 financial institutions in China are backtested by the unconditional coverage test， aiming to evaluate the effectiveness of MES and ΔCoVaR. Second， the early warning system is calulated to analyze the risk evolution of the financial system. Third， the quantile connectedness networks in the frequency domain through the quantile coherence method is proposed to explore the risk connectedness among financial institutions. Finally， the connectedness importance of financial institutions on specific frequency bands is measured.It is found that　（1） During the period of financial market crisis， commonly used systemic risk indicators such as MES， CoVaR， and ΔCoVaR fail to measure the systemic risk of financial institutions. （2） Compared with the short-term and medium-term connectedness layer， Chinese financial institutions have obvious extreme risk linkage effects in the long-term connectedness layer. （3） In the short-， medium-， and long-term， small- and medium-sized financial institutions such as Bank of Ningbo， Industrial Securities， and Dongfang Energy have connectedness importance. Therefore， the regulatory authorities should pay attention to preventing the risk of "too connected to fail" of small- and medium-sized financial institutions. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

An Affinely Adjustable Robust Optimization Model for Prouction-Inventory Planning Problem with Demand and Lead Time Uncertainties Mingli Yuan, Ruozhen Qiu, Yue Sun Chinese Journal of Management Science    2025, 33 (9): 97-108.   DOI: 10.16381/j.cnki.issn1003-207x.2022.1692 Abstract （1003）   HTML （8）    PDF（pc） （1837KB）（160）       Knowledge map    Save The rapid changes of supply chain environment make it difficult for firms to predict future demands or obtain a full knowledge of raw material supplies， resulting in low efficiency of production and operation. How to cope with market demand and raw material supply uncertainties and ensure ideal operational performance has become an urgent issue for firms.A production-inventory planning problem is explored for a three-stage supply chain consisting of a raw material supplier， a manufacturer， a third-party logistics company， and customers. The raw materials used to produce products are supplied and distributed by the supplier to the manufacturer. The output of each product is influenced by the inventory levels of raw materials， the production capacity and the market demands. The total production time is subject to maintenance， holidays and other factors. The end products are supplied by the manufacturer to the customers. In particular， any unsold products will be stored by the third-party logistics company. Considering demand and raw material lead time uncertainties， a multi-product multi-period production-inventory planning robust optimization model is developed by minimizing the total production-inventory cost with production capacity， quantities of raw materials， product inventories and logistics as constraints， and order quantities of raw materials， production time， number of orders signed by the manufacturers and the third-party logistics companies and lost sales as decision variables. Furthermore， an affinely adjustable robust optimization model is developed based on the realized demands. With the definitions of the uncertain sets to which the uncertain demands and the lead times belong， the proposed robust optimization models are transformed into tractable linear programming models by dual approach. Finally， numerical studies are conducted to verify the proposed models， especially to illustrate the effectiveness and advantages of the affinely adjustable robust optimization model in coping with demand and lead time uncertainties.The main findings reveal that the affinely adjustable robust optimization model outperforms the traditional static robust optimization model in terms of the total costs and operational decisions. The total production-planning costs under the two robust optimization methods increase with the increase of the demand and lead time uncertainties， indicating that decision-makers should strengthen the management of uncertainties in practice and reduce the uncertainty levels to reduce costs. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Extreme Risk Spillover among Global Stock Markets Based on Transformer-LSTM Quantile Regression Yinhong Yao, Xiaoxu Wang, Wei Chen, Zhensong Chen Chinese Journal of Management Science    2025, 33 (8): 1-13.   DOI: 10.16381/j.cnki.issn1003-207x.2024.1601 Abstract （952）   HTML （30）    PDF（pc） （7035KB）（239）       Knowledge map    Save The increasing global economic uncertainty and the frequent occurrence of extreme events have made the precise measurement of extreme risk spillover effects in global stock markets a crucial approach for addressing cross-border financial shocks. Existing studies exhibit certain limitations in comprehensively considering the nonlinearities， long-term dependencies， and multivariable interactive effects of time series. Therefore， a Transformer-LSTM quantile regression model is proposed that leverages the multi-head attention mechanism in the Transformer to process multiple attention mechanisms in parallel， while extracting the temporal characteristics of the data. This approach aims to more accurately capture the temporal evolution of extreme risks in global stock markets and examine risk spillover effects during the full sample period and crisis periods such as a financial crisis through constructing spillover networks. Based on empirical results from weekly stock index data of 19 countries from December 2001 to March 2024， the findings are as follows： （i） The proposed model demonstrates superior predictive power compared to the Multilayer Perceptron （MLP）， Long Short-Term Memory （LSTM） network， and Transformer models. （ii） The spillover effects in cross-country stock markets exhibit asymmetry over the full sample period. Notably， there is a significant risk spillover effect in the U.S. stock market， while Chinese stock market shows no obvious risk spillover or receiving effects. （iii） During crisis events， extreme risk spillovers increase and asymmetry intensifies. During the financial crisis， the risk spillover effects from the U.S. are significant， with notable bidirectional spillover across multiple countries’ stock markets. During the European debt crisis， risk spillover effects are primarily concentrated in European countries’ stock markets. The risk impact from the U.S. stock market on China notably strengthens during the Sino-US trade friction. During the COVID-19 pandemic， stock markets of developed countries such as the U.S. and the U.K. remain the main sources of risk spillover. The proposed model offers new insights into capturing the extreme risk spillover in financial markets， which is important for risk management in global stock markets during times of crisis. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Research on Dynamic Licensing Pricing Strategy of Dual-use Defense Patent Considering the Social Efficiency Fei Yan, Hongzhuan Chen Chinese Journal of Management Science    2025, 33 (9): 148-160.   DOI: 10.16381/j.cnki.issn1003-207x.2022.2366 Abstract （948）   HTML （1）    PDF（pc） （1399KB）（315）       Knowledge map    Save Considering the impact of the improvement of the social efficiency brought by transferring the dual-use defense patents to the civilian market， the dynamic licensing pricing strategy of the dual-use defense patent is studied. The dynamic no licensing model， dynamic fixed-fees licensing model and dynamic royalty licensing model considering the social efficiency are constructed. Based on this， the optimal dual-use defense patent licensing strategy of military manufacturer is studied， and the impact of discount rate and military and civilian product brand difference is analyzed. The results show that： 1） For the military manufacturer， in the short term， it is easier to obtain higher profits without licensing， but in the long run， the choice of the licensing strategy is more beneficial to the military manufacturer； 2） Compared with the dynamic fixed fee licensing model， the dynamic royalty licensing can encourage the military manufacturer to improve the social efficiency， moreover， the improved social efficiency under the dynamic royalty licensing improves the consumer utility and helps to expand the market sales， which helps the military manufacturer to get more licensing revenue and sales revenue. 3） Under the steady-state equilibrium， the no licensing strategy is more beneficial to the military manufacturer when the discount rate is lower， however， the licensing strategy will be more beneficial to the military manufacturer when the discount rate is higher. 4） When the brand power of the civilian manufacturer is weak， the royalty licensing model is optimal； others， the fixed fee licensing model is optimal. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Identification of Urban Rainstorm Flood Disaster Chain and Assessment of Systematic Risk Gaofeng Liu, Jiajing Li, Huimin Wang, Yanbing Gong, Feifei Tao Chinese Journal of Management Science    2025, 33 (7): 222-231.   DOI: 10.16381/j.cnki.issn1003-207x.2022.2131 Abstract （917）   HTML （28）    PDF（pc） （2513KB）（166）       Knowledge map    Save A series of secondary derivative hazards triggered by urban rainstorms form rainstorm flood chains. The identification of disaster chains and the assessment of disaster chain risk based on disaster system theory are beneficial for enhancing the level of urban public safety emergency response. In contrast to previous research that focused on evaluating the risk of a single flood hazard， the construction of an event-evolutionary graph of rainstorm floods and a model for assessing systemic risk in disaster chains are introduced. A hybrid approach is developed in this study， which integrates disaster chains and complex networks to model and evaluate the systematic risk of urban rainstorms and flood disasters. The text data used in this study are sourced from news articles reporting flooding disasters between 2017 and 2021. The data are first preprocessed in this study， followed by the extraction of disaster event pairs using dependency language analysis and rule templates. Additionally， techniques for event clustering generalization and co-occurrence analysis are employed to create a factual knowledge map of the development of urban storm flooding disasters. Subsequently， risk level indices for flood and rainfall hazard chains are introduced， and a systematic risk assessment model that considers the amplification effect of hazard chain reactions on disaster scenarios is constructed. Cases from typical rainstorm events in Shenzhen， Henan， and Shanxi are selected. By comparing and analyzing the characteristics of disaster evolution， systematic risk response strategies， and management insights in different regions are proposed. The results indicate that （1） Distinct catastrophe events exhibit various characteristics and play roles in the dissemination effect of disaster risk progression， as revealed through the identification of the disaster chain of severe rainfall and flooding. （2） Through the assessment of systemic risk in the process of disaster chain evolution， it is observed that the same disaster event may trigger multiple disaster chains， and the value of risk is closely associated with the geographic environment and socio-economic development of different cities. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Decision-making Analysis of Power Battery Recycling under Carbon Cap-and-trade Mechanism and Subsidy Policy Wenqi Wu, Ming Zhang Chinese Journal of Management Science    2025, 33 (8): 340-354.   DOI: 10.16381/j.cnki.issn1003-207x.2023.1828 Abstract （877）   HTML （2）    PDF（pc） （7599KB）（173）       Knowledge map    Save To promote the power battery recycling work and promote the carbon emission reduction of enterprises， the government launched carbon cap-and-trade mechanism and subsidy policy， to explore the impact of the government subsidy strategy choice on the decision-making of the power battery recycling supply chain under cap-and-trade mechanism， a closed-loop supply chain led by power battery manufacturer and composed of the vehicle manufacturer and third-party recycler is constructed， and the optimal decision-making of the power battery recycling supply chain under the three strategies of subsidized power battery manufacturer is studied. In addition， three recycling models are constructed： single-channel monopoly recycling， mixed recycling and alliance recycling， and the supply chain decision-making， profit and recycling rate under different recycling models are compared. Results show that （1） The forward supply chain decision of power battery recycling is affected by the carbon cap-and-trade mechanism and recycling models， while the subsidy policy only affects the reverse supply chain decision； （2） The carbon cap-and-trade mechanism improves the profits of the power battery recycling supply chain， showing that the increase of carbon quota and carbon price is conducive to the increase of the profit of the power battery recycling supply chain， while the increase of carbon price leads to poor recovery performance； （3） Subsidy policies improve supply chain profits and recycling rates， and the recycling rate of subsidized power battery manufacturers or recyclers is always better than that of subsidized consumers； （4） The impact of carbon cap-and-trade mechanism and subsidy policy on the supply chain is not affected by the recycling mode， but the supply chain profit and recovery rate of the alliance recycling mode are better than that of single-channel recycling and mixed recycling. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Information Acquisition in Secondary Market and Convertible Bond Financing Liu Gan, Yingli Cai, Mingyu Xu, Yingxian Tan Chinese Journal of Management Science    2025, 33 (9): 22-32.   DOI: 10.16381/j.cnki.issn1003-207x.2023.0387 Abstract （857）   HTML （0）    PDF（pc） （1078KB）（69）       Knowledge map    Save In 2017， the China Securities Regulatory Commission provided a richer path for companies to flexibly use different bond financing tools to seek innovative development. It revised its refinancing policy to encourage listed companies to use convertible bonds， a composite bond financing tool， to improve their capital structure. In recent years， the convertible bond market has been constantly developing and the market size continues to grow， which improve and enrich the research in the field of convertible bond financing to create the prerequisites. Although the convertible bond market is in a state of continuous development and is an enrichment of corporate financing tools with policy support， there are also unfavorable factors such as insufficient liquidity and imperfect price discovery function in the secondary bond market. At present， the research on convertible bonds mostly focuses on how bond financing affects firms' business decisions under the friction of the secondary bond market. However， there is little literature to explore quantitative research on how the contractual terms of convertible bonds affect the liquidity and trading volume of the secondary bond market. Against the background， the information asymmetry of investors is modelled with respect to the recovery rate of firms in bankruptcy， taking into account factors such as insufficient liquidity in the secondary market. There are both high-quality companies and low-quality companies on the market， and the recovery rates of these companies in bankruptcy are different. At the same time， when selling bonds in the secondary market， convertible bondholders will need to engage in costly information-gathering and then construct the information-gathering strategy of convertible bondholders. Then， an equilibrium model is constructed and analytical expressions of the equilibrium pricing of corporate securities， the optimal bankruptcy time， the optimal conversion time， and the corporate financing strategy under the information asymmetry of the secondary bond market and the information acquisition of convertible bond holders are obtained. It is found that the higher conversion rate of convertibles increases the trading volume of lower quality bonds in the secondary market， while reducing liquidity. As the cost of information acquisition increases， the optimal leverage of the company will show a U-shape. The research of this paper enriches the theory for the financing of convertible bonds and provides a useful reference for the corporate governance. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Digital Omnichannel Customer Behavior: Research Hotspots and Knowledge Framework Xiaohong Chen, Zhihui Yang, Dongbin Hu Chinese Journal of Management Science    2025, 33 (7): 1-10.   DOI: 10.16381/j.cnki.issn1003-207x.2022.2163 Abstract （843）   HTML （2）    PDF（pc） （2096KB）（294）       Knowledge map    Save In recent years， the popularity of mobile devices， the global COVID-19 pandemic and the rapid development of digital technology have significantly changed consumer shopping behaviour and habits. With the continuous penetration of industrial digitalisation， the omnichannel model is constantly evolving and upgrading. The digital omnichannel customer behaviour under multi-channel， multi-scene and multi-touch-points is more complex and uncertain， and how to accurately capture customer behaviour and effectively satisfy customers’ personalised needs is increasingly becoming the focus of attention in the industry and academia.Driven by reality and theoretical needs， the bibliometric analysis method is adopted to analyse the 340 English-language articles cited in the core database of Web of Science from 2000 to 2022 and the two major techniques of performance analysis and scientific mapping are applied. On the one hand， the publication trends， journal sources and core papers of the research field are systematically sorted out； on the other hand， the cooperation network among the research fields is obtained from the micro-， meso-， and macro-levels， and the most prominent research topics in the field are obtained， according to which the logical knowledge framework is constructed.The results show that　（1） the academic interest in this field is expected to explode in the future， with China and the United States being the countries with the highest publication output， and local cooperative networks between research institutions have been formed； （2） the field focuses on seven major research themes： webrooming， channel dissynergies， supply chain management， brand management， digital products， online retail and omnichannel retail； （3） the knowledge framework of digital omnichannel customer behaviour is constructed based on the SOR theory， and the future research directions are proposed from the whole-journey customer behaviour of “pre-purchase → mid-purchase → post-purchase” throughout the customer behaviour journey. The current research status of digital omnichannel customer behaviour is sortedout， several prominent research hotspots are explored， the application context and practical potential of digital technology are expanded， the theoretical connotation of consumer behaviour is enriched， and useful management implications for subsequent academic research and business practice are provided. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Renewable Energy Maintenance Strategies for Power Supply Chain Considering Extreme Weather Wei Chen, Yongle Tian, Chunguang Bai, Yongkai Ma Chinese Journal of Management Science    2025, 33 (9): 359-368.   DOI: 10.16381/j.cnki.issn1003-207x.2022-2669 Abstract （839）   HTML （5）    PDF（pc） （945KB）（149）       Knowledge map    Save Aiming at the influence of extreme weather on renewable energy maintenance， a two-level electricity supply chain composed of an electricity generator and an electricity retailer is constructed. Maintaining renewable energy by electricity generator will optimize the energy structure； Maintaining renewable energy by electricity retailer will increase electricity demand. The two models are compared， which are renewable energy maintenance by electricity generator and electricity retailer， and the boundaries of renewable energy maintenance are identified. The equilibrium model is solved by backward induction and the following conclusions are drawn. （1） With the increase in the maintenance cost coefficient of renewable energy or the probability of extreme weather， the demand for renewable energy decreases. （2） When the probability of extreme weather is small， electricity retailer is more motivated to maintain more renewable energy， while when the probability of extreme weather is large， electricity generator is more motivated to maintain more renewable energy. The main research contributions are as follows （1） Extreme weather is introduced into the electricity supply chain， based on the situation where there are electricity generator maintaining renewable energy and electricity retailer maintaining renewable energy in reality. It is identified that the boundaries of renewable energy maintenance will improve the efficiency of the power supply chain. （2） Few scholars have studied the issue of who will maintain renewable energy. Chen et al. （2020） studied the investment of upstream and downstream electricity supply chain investment of renewable energy. It is found that the probability of extreme weather occurring affects the selection strategy of electricity supply chain， which further enriches existing research on the electricity market. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Incentives for Carbon Emission Reduction in the Supply Chain under the Demand and the Trading Price of the Emission Permit Uncertainty Bo Wu, Jianheng Zhou Chinese Journal of Management Science    2025, 33 (9): 349-358.   DOI: 10.16381/j.cnki.issn1003-207x.2022.2686 Abstract （834）   HTML （4）    PDF（pc） （1123KB）（186）       Knowledge map    Save In recent years， as the global environmental situation has become more and more severe， the topic of how to “educing carbon” has triggered extensive discussions among many enterprises and scholars. It is found under the carbon tax policy and cap-and-trade policy， the two-part tariff contract is conducive to mitigating double marginalization， but the extent of mitigation is closely related to the carbon policy， as the carbon tax policy is more stable， so the space to reduce the wholesale price is more constant； the cap-and-trade policy is affected by the uncertainty of the carbon price market， and the coordinating effect of the contract will be strengthened with the increase of the uncertainty of the carbon price. Secondly， the two-part tariff contract can realize the overall coordination of the supply chain under the carbon tax policy， but under the cap-and-trade policy， it depends on the correlation coefficient， and the two-part tariff contract can be beneficial to the supply chain participants only when the correlation coefficient meets certain conditions. In addition， it is found that the two-part tariff contract can bundle the risk of uncertainty with suppliers， and use the “risk-passing” effect to reduce the negative impacts of uncertainty on the brand. At the same time， the brand can use flexible pricing to amplify the positive effects of carbon reduction in the supply chain， thereby increasing supply chain profits. Moreover， under the carbon tax policy， the brand can only transfer the uncertainty of market demand brought by the supply chain’s low-carbon investment efforts to the upstream. Under the cap-and-trade policy， the brand can transfer the uncertainty of market demand， the uncertainty of carbon price， and the volatility of carbon trading price on demand upstream at the same time. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Carbon Emission Reduction Decision Considering Dynamic Consumer Green Perception under the Cap-and-trade Policy Danlu Zhang, Feng Li, Liang Liang, Gang Kou Chinese Journal of Management Science    2025, 33 (10): 269-281.   DOI: 10.16381/j.cnki.issn1003-207x.2023.0867 Abstract （797）   HTML （4）    PDF（pc） （2090KB）（204）       Knowledge map    Save The regulation and mitigation of carbon emissions have become critical priorities worldwide. Consequently， many national governments have sequentially introduced diverse emission reduction policies， while the carbon trading market has been demonstrated as an efficacious market-based mechanism， serving as a crucial tool for mitigating carbon emissions. Furthermore， consumers' green consciousness is progressively intensifying， with an increasing number of consumers expressing concerns about the carbon footprint of products. Existing literature has examined factors influencing emission reduction and the impact of consumer green consciousness on such reduction efforts. However， there is limited consideration given to the dynamic change in consumers’ green perception. Consumers’ green perception， similar to carbon reduction， is a long-term dynamic process influenced by factors such as low-carbon policies and technological innovation. Therefore， considering the cap-and-trade and taking dynamic green perception and dynamic carbon reduction into account simultaneously， the impact of different government subsidy policies （consumer subsidy under the TC model and manufacturer subsidy under the TM model） on optimal decision-making in the supply chain is investigated. Furthermore， leveraging carbon emission data from energy-efficient air conditioners by Midea， along with cost data for Carbon Capture， Utilization， and Storage （CCUS）， and current carbon price from the cap-and-trade， a numerical analysis is conducted to examine the impacts of carbon trading prices and production emission coefficients on enterprise profits， societal welfare， and carbon emissions. It is found that： （1） Compared to the TM model， the proactive attention of supply chain members to environmental costs has been effectively enhanced under the TC model. （2） The steady-state value of societal welfare under the TC model surpasses that under the TM model from the long-term perspective. However， during the initial stages of product introduction， the societal welfare is lower under the TC model， even lower than that under the no-subsidy model. （3） When both the carbon trading price and consumer green preferences are relatively high， the optimal subsidy rate under the TC model is higher. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Competition of Green Supply Chains and R&D Cost-sharing within a Chain: Based on Noncooperative-Cooperative Biform Game Approach Mengqi Li, Dengfeng Li, Jiangxia Nan Chinese Journal of Management Science    2025, 33 (10): 339-349.   DOI: 10.16381/j.cnki.issn1003-207x.2022.2073 Abstract （797）   HTML （3）    PDF（pc） （3053KB）（166）       Knowledge map    Save With the prevalence of sustainable development， finding the balance between economic development and environment pollution is an issue that every enterprise in the supply chain needs to solve. The contradiction between high product green level and high green R&D cost leads to the decrease the enterprises' positivity of green technology R&D and profit. In order to meet the green product demands of consumers， many retailers， such as Walmart， have long been committed to help upstream manufacturers to ease the financial pressure by sharing the green R&D cost， which can encourage manufacturers to improve the level of green technology and realize the rational optimization of the supply chain resource. Considering the green competition， price competition and cooperation between manufacturers and retailers， it is worthwhile to explore how to determine the optimal price and the optimal level of green technology.For the competition of two green supply chains and the sharing cost of manufacturers and retailers， the equilibrium price and the optimal profit of supply chains are studied by using the noncooperative-cooperative biform game in this paper. In the noncooperative game part， choose wholesale price and retail price as strategies， which constitutes the competitive situation. In the cooperative game part， manufacturers and retailers optimize the level of green technology and the sharing proportion of green R&D cost. Two cooperative games are established to describe the competition of supply chains and the cooperation among supply chain members. Shapley value is used to distribute the profit of each supply chain. Based on the profit of the cooperative game， the Nash equilibrium strategy of supply chain members is obtained by constructing the non-cooperative game. The influence of the product green competitive intensity and cross price sensitivity coefficient on equilibrium strategy and optimal profit is analyzed through a numerical example.The results show that the green technology and the profit of supply chain members are positively correlated with the coefficient of green R&D cost. As the product green competitive intensity increases， the profit of supply chain members is reduced. And enterprises will reduce the investment in green technology， which leads to the lower green level of products. However， the product price competition can prompt manufacturers to produce products with high green level and raise product pricing. A new method is provided to study the management for green supply chains with coexistence of competition and cooperation. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Remanufacturing Closed-loop Supply Chain Decision Considering Retailer’s Dual Behavior Preference under Carbon Tax Regulation Yeming Dai, Shuang Yu Chinese Journal of Management Science    2025, 33 (8): 308-320.   DOI: 10.16381/j.cnki.issn1003-207x.2022.1639 Abstract （796）   HTML （5）    PDF（pc） （3554KB）（139）       Knowledge map    Save With the development of behavioral economics， decision-makers pay more attention to the application of behavioral preference in supply chain management. However， the existing researches on supply chain management considering behavioral preferences usually only consider a single behavioral preference， without considering the superimposed effect of multiple behavioral preferences. But many behavioral experiments and researches have confirmed that decision-making models based on rational assumptions deviate from reality. And the complexity of human behavior means that people may have multiple behavioral preferences. In particular， the disadvantaged decision-makers will pay more attention to fairness and be more sensitive to their own losses. Therefore， the dual behavioral preference of the retailers with the inferior position of supply chain is introduced into the multi-echelon closed-loop supply chain composed of the manufacturers， the remanufacturers， the distributors and the retailers. Furthermore， considering that with the maturity of remanufacturing technology， the advantages of the remanufacturers are increasingly prominent， but due to the lack of market advantages， the remanufacturers often choose to cooperate with other enterprises to maximize profits when carrying out remanufacturing business. However， there is a gap in the research on the cooperation between the manufacturers and remanufacturers under the consideration of behavioral preferences. Based on this， under the supervision of carbon tax， the multi-echelon closed-loop supply chain game models of cooperation and non-cooperation between the manufacturers and remanufacturers are established， namely Model CD and Model MT. Then the influence of the retailers' dual behavioral preferences on pricing decisions of each member in the supply chain is discussed， and equilibrium analysis and comparison are conducted. The main discussions are as follows： （1） The influence of the retailers' dual behavioral preferences on the pricing of new and remanufactured products when the fair gain and loss coefficients meet different conditions； （2） The influence of carbon emission saved by remanufactured products on the pricing of new and remanufactured products； （3） The impact of carbon tax imposed by the government on the manufacturers and remanufacturers on the pricing of new and remanufactured products. The results are showed as follows： （1） the cooperation between the manufacturers and remanufacturers reduces the price of remanufactured products， but does not affect the price of new products. （2） When the retailer's profit is higher than the manufacturer's profit at the reference point， the retailer's negative inequality and loss aversion preference decrease， but positive inequality preference increases， so the upstream enterprises raise the wholesale price of products. On the contrary， the upstream enterprises reduce wholesale prices. （3） The carbon tax levied by the government increases the price of new products， reduces new products’ production and the carbon emission of the supply chain system. In addition， when the carbon emission saved by remanufacturing is large， the remanufacturer can increase the production of remanufactured products and the manufacturer can reduce the production of new products. In this case， appropriate carbon tax will encourage enterprises to actively remanufacture. The dual behavioral preferences are considered to make the research more practical. In addition， the carbon tax policy and remanufacturing considered in this paper are in line with the current green development policy， and the conclusions drawn can provide theoretical basis for the government to formulate a reasonable carbon tax policy to reduce carbon emissions and enterprises to make targeted decisions. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Research on Financing Strategy of Advance Payment Supply Chain Jun Tian, Zanqiang Dong, Yali Li Chinese Journal of Management Science    2025, 33 (7): 272-283.   DOI: 10.16381/j.cnki.issn1003-207x.2022.1399 Abstract （782）   HTML （3）    PDF（pc） （2886KB）（142）       Knowledge map    Save Under the mode of supply chain financing risk management， advance payment is one of the important ways to solve the risk problem in supply chain financing. Through the detailed study of the advance payment mechanism in the supply chain financing model， the characteristics of the financing model in the supply chain financial service and the application of the advance payment are analyzed， the models of financing and risk aversion strategies for supply chain enterprises are discussed， which are composed of suppliers， financing institutions and distributors， and the key factors are demonstrated that affect the implementation of financing interest rates by financial institutions， and it describes the risk transfer of the key factors in the financing process of prepaid account under the supply chain finance， and obtains the quantitative description of the profit of the financing institution through calculation， the expected revenue function of each party， the optimal order quantity of distributor and the whole revenue model of supply chain under the risk aversion of financial institutions are analyzed. The risk-return model of enterprises and financial institutions in advance payment supply chain financing strategy with an example is validated， and the result reflects the practicability and reliability of advance payment mechanism under supply chain financing model， for Financial Institutions and supply chain enterprises in the financing of useful reference. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Social Network Group-buying: Pricing, Quantity and Consumers Tian Wang, Hanbing Tang, Yancheng Shi Chinese Journal of Management Science    2025, 33 (6): 73-84.   DOI: 10.16381/j.cnki.issn1003-207x.2022.0358 Abstract （781）   HTML （7）    PDF（pc） （1555KB）（81）       Knowledge map    Save Social network group-buying is one of the dominant marketing models， and may benefit the firm in expanding the potential market， increasing consumer awareness and promoting sales. However， the firm may incur a high commission fee charged by the group-buying platform and demand shift from high-price in normal selling to relatively low-price in group-buying. The research questions in this article are：（1） Whether the enterprise needs to implement the group-buying strategy？ Can this strategy really bring about an increase in profits？（2） What impact do parameters such as market structure， diffusion effect， commission ratio and customer psychic cost have on the joint decision-making of price and group size？ （3） Considering the platform commission ratio always has a negative effect on the company’s profits， is there a win-win scenario for the firm and platform？ A market consists of a firm， a group-buying platform and consumers is considered， and joint decisions on pricing and group size are studied. There are two sales channels can be chosen by company， including retailing and group-buying based on platforms. In this article， customers are divided into transactional customers group and relational customers group based on their price-sensitive. First， a company will make a decision whether to carry out group-buying. Then the company retails goods to relational customers， and sells goods to transactional customers through group-buying. The goal of the company is to maximize its profits. The influence of different parameters in each case is analyzed， and both the good and bad effects of group-buying to company’s profits are discussed in social networks. In addition， the base model is extended to include a centralized-decision system and addresses the impact of cooperation between the firm and platform. Based on the analysis of company profits in different cases， it is found that： （1） Product cost is an important factor that affects company’s decision. （2） Longer time or more efforts are needed， more harm is done to profits. （3） Platform commission ratio always has a negative effect on profits. The company should establish a friendly and cooperative relationship with the group-buying platform， and be careful of choosing products. Through detailed numerical analysis， company’s decision about whether carry out group-buying in different cases and the impact of each parameter is explored. Finally， countermeasures and suggestions are put forward to group-buying strategy， improving company’ profits and cooperation between platform and company. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Hybrid Multivariate Regression Forecasting for Gold Prices: A Decomposition-Reconstruction-Ensemble Methodology Zhaorong Huang, Zhengyang Song, Bo Yang, Nengmin Zeng, Le’an Yu Chinese Journal of Management Science    2025, 33 (12): 41-56.   DOI: 10.16381/j.cnki.issn1003-207x.2024.2305 Abstract （777）   HTML （22）    PDF（pc） （3172KB）（341）       Knowledge map    Save The pricing mechanism of gold assets is particularly complex， and it is difficult to fully reveal the rich multidimensional information contained in its inherent feature space through a univariate time series analysis framework. A hybrid regression model with robust decomposition and hierarchical integration strategies for gold price prediction is proposed from the perspective of decomposition-reconstruction-ensemble， effectively exploring the synergistic effects of mixed financial influencing factors at different time scales. Firstly， a stable variational mode decomposition （SVMD） technique is developed to extract the stable center frequency component boundaries of the gold price sequence for continuous feature learning. Then， using the Hurst exponent as a memory reconstruction index， the decomposition boundary is reconstructed into short-term， medium-term， and long-term scale components. Subsequently， utilizing the advantages of feature selection from scaled principal component analysis regression and minimum maximum concavity penalty regression， a hybrid linear regression （HLR） is constructed to extract important financial features for prediction at different time scales， thereby improving the overall prediction generalization ability. Finally， the hierarchical ensemble method integrated the prediction results of the original layer， reconstruction layer， and component layer to obtain a reconciliatory gold price prediction value. The effectiveness of the proposed model in the three steps of decomposition， reconstruction， and ensemble is validated on the international gold futures price dataset， and the advantages of the proposed model are compared with various prediction models and decomposition modeling strategies in existing research. Table and Figures | Reference | Related Articles | Metrics | Comments（0）

Select

Joint Decision of Freshness-keeping Effort and Promotion Effort in a Dual-channel Fresh Produce Supply Chain from a Dynamic Perspective Wenlong Wang, Zhuyun He, Suxian Zhang Chinese Journal of Management Science    2025, 33 (9): 301-311.   DOI: 10.16381/j.cnki.issn1003-207x.2022.2070 Abstract （766）   HTML （1）    PDF（pc） （1271KB）（159）       Knowledge map    Save With the implementation of the project of “promoting agriculture through digital commerce”， the fresh e-commerce market in China is growing rapidly. In a dual channel supply chain， a supplier usually needs to dynamically adjust environmental factors in storage， transportation and distribution over time according to the current freshness level of fresh products， that is， to make dynamic freshness-keeping efforts. At the same time， as an effective means to stimulate consumers to buy quickly， promotion is an important decision for a retailer to attract consumers. It is worth noting that in order to cope with the dynamic changes in freshness of fresh products， the retailer needs to make dynamic promotion efforts to maximize profit. Therefore， the freshness-keeping efforts of the supplier and the promotion efforts of the retailer will jointly affect the operation performance of a fresh supply chain.Under this background， based on the dynamic perspective of time dimension， the supplier’s freshness-keeping efforts and retailer's promotion efforts， and the multiple effects of product freshness， goodwill and price on market demand are considered. Focusing on a dual channel supply chain of fresh products in which the supplier has both online and offline channels， a differential game model is constructed， and the optimal control theory is used to solve the dynamic joint decisions of supply chain members under centralized and decentralized decisions. A revenue sharing contract is designed to optimize supplier’s freshness-keeping efforts and retailer's promotion efforts and improve the performance of the supply chain.The results show that　（1） Under the three decision-making situations， the freshness level of fresh food is monotonically increasing， however， the changes of goodwill are diversified. In addition， the profits of the supplier and the retailer will increase to a stable state over time， and at this time， they are the highest under the centralized decision-making situation， higher under the revenue sharing contract， and the lowest under the decentralized decision-making situation. （2） Under centralized decision making， the optimal level of promotional efforts and the optimal level of freshness-keeping efforts increase with market demand， consumer freshness preference and brand preference， and decrease with the decaying degree of product goodwill and input cost. （3） Under decentralized decision-making， the market share of traditional channel has a positive impact on retailer's promotion efforts， and a negative impact on supplier's freshness-keeping efforts. （4） As consumers' freshness preference and brand preference become more and more obvious， the revenue sharing contract is easier to promote member's input in freshness-keeping and promotion efforts， thus bringing more market demand and increasing supply chain profit. Revenue sharing contract can realize Pareto improvement， effectively alleviate the "double marginal effect"， and significantly improve the overall revenue of the fresh supply chain. Table and Figures | Reference | Related Articles | Metrics | Comments（0）