Abstract:People's cognition about management is a process from“simple”to“complex”, beginning in perceptual and intuitive experience, then gradually developing into rational thought of revealing the essential attribute. On the basis of hierarchical framework of modern science and technology system, the mutual mappings between the key concepts in system science and the ones in management science are built. Under the systematological thinking, systematicness is an attribute of all management activities. Any management activity is not only a systematic practice, but also a practical system. With the development of human society, management practice and essential attributes are showing an overall evolution trend from systematism to complexity. Complex integrity becomes the important cause and profound connotation of various types of complex management, which is the significant practical and theoretic logic to realize the amalgamation of multi-discipline and solve complex problems in management field.

Abstract:Professor Sheng extends the integrity of management to “a complete process”in his paper “Management: From Systematic to Complexity”, which embodies the dynamic characteristics of management. Starting from the systematic nature of management, he comprehensively discusses the complexity of management, and builds the architecture of “complexity management”. In this paper, he extends the concept of management from the systematic perspective to a complexity perspective, and clarifies the association and evolution of the essential attributes of management. In the methodological perspective, he proposes a criterion for identifying complex management and general management, and furthermore constructs a theoretical methods system for complexity management. This paper is a masterpiece showing his profound insights and is a major leap in production management theory. The paper inspires us in the following ways: different management theories and methods should be adopted conditionally for different management problems. Moreover, besides the production ( service) management activities, how to construct“complexity management”system architecture for generalized management activities is a valuable research direction in future management studies.

Abstract:With China's social economy entering a new era of development, it is crucial to reiterate the complexity of production ( service) management in a rapidly changing world. When the actual production ( service) system changes from simple to complex and from closed to open due to the emergence of disruptive technology and the new pattern of globalization, its characteristics of self-adaptation, emergence and self-similarity cannot be ignored, thus providing a new direction for future management research.

Abstract:With the rapid development of information technology, MOOCs provides users the opportunity of free learning through the network anytime and anywhere. Knowledge learning is classified into explicit knowledge learning and tacit knowledge learning. These two kinds of knowledge play a very important role in MOOCs learning. Based on knowledge learning theories and technology adoption theories, this paper studies the factors affecting the use of MOOCs platform. Through questionnaire survey and data analysis, it is found that cognitive tacit knowledge factors, technical tacit knowledge and social tacit knowledge, as well as explicit knowledge factors such as website design elements and course teaching elements have positive effect on use of MOOCs platform. Through regression analysis, it is found that technical tacit knowledge and social tacit knowledge are more important than the two explicit knowledge factors of course teaching and website design.The results of this paper provide suggestions for the development of the national education and related industries under the internet environment.

Abstract:Using the data of A-share listed companies in China from 2007 to 2015, we empirically examines the logic chain that how authoritative professional directors influence innovation activity through executive incentive. It turns out that the partial mediation effect of the executive incentive is significant. Authoritative professional directors play the role of consultation and supervision by influencing executive incentives at the same time. The advisory role is embodied in improving the level of equity incentive to encourage the innovation of senior executives, while the enterprise will develop to the substantial innovation. This paper extends the potential role of professional directors, and suggests a new angle to recognize their functionary and governance effectiveness. Also, we provide the overall situation of current executives incentive of listed companies in our country. The conclusion of this paper provides some advices for enterprises to set up reasonable incentive contracts and for supervision department to improve the board governance rules.

Abstract:While model report is widely used in ancient and modern China, the evidence is rare. The reporter faces a dilemma: Should similar reports be reported to avoid disclosure risk or diversified reports be reported to communicate private information? This paper aims to investigate how investors evaluate textual similarity of Management Discussion and Analysis ( MD&A) in the Chinese annual reports. Based on a sample of textual information of MD&A of listed firms in China, the vertical textual similarity ( VTS) is measured by the Levenshtein edit distance between an MD&A in year t and that in year t-1 and horizontal textual similarity ( HTS) is measured by the mean value of the Levenshtein edit distance among all firms. The following results are found. First, market reaction of VTS is contingent on financial risks. When companies suffer losses, report small profits or release modified audit opinions, VTS is negatively related with short term abnormal return. Oppositely, when companies' financial risks are low, market reaction is positively associated with VTS. Second, HTS is negatively related with market return in the whole sample. Third, economic consequences of VTS is contingent on corporate innovation, specific information, Chairman'power and transaction suspending. Finally, economic consequences of HTS is affected by the social network of independent directors. Taken together, the results indicate that both VTS in financial distressed companies and HTS are harmful to private information communication and will have negative economic consequences.

Abstract:This paper builds an extended AD-AS model with firms, households and banks, and then obtains the estimation equation of target capital structures. Using the ratio of financial profit to total profit as the proxy of financialization, this paper examines the roles of financialization in capital structure adjustment with the semi-annual data of nonfinancial listed firms during 2007 and 2015. The empirical results show that, financialization exacerbates capital structure deviation and decreases the speed of dynamic adjustment, and their relationships are stronger in firms with private ownership, smaller size and over-debt. Financialization significantly discourages fixed asset investments. Moreover, changes in investment preferences and decrease in collateral capacity are conducive to understanding the negative roles of financialization in the dynamic adjustment of capital structures. Financialization increases firms' dependence on high financial leverage to make profits and enlarges the deviation of their actual capital structures from the target. Our findings suggest that financialization increases the difficulty of lowering firm's leverage in the process of structural supply-side reform.