Abstract:The problem is the starting point of theoretical research. The main difficulty is not answer but problem in the relationship between contribution to the era and practicality of management theory. A real valuable practical problem could make the management theory not only have strong vitality, but also keep fresh by advancing with times, and ultimately, the academic value and truthfulness of the theory can only be proved by practice for problems-solving. Instead, long separation from vivid management problems, or forgetting that practice itself is a great thinker, or blindly living in others' fence of thought and besieged city of theory could lead to a slow decline of our academic vitality. Problem orientation principle requires that the research on management theory in China should not only insist on practicing, but also aim at solving Chinese realistic problems and guiding Chinese management practice, which will eventually promote the realization of sinicization of management research. At present, we should clarify the basic state, and paradigm of this academic logic, make clear how to keep the formation based on problem orientation principle, and enable the formation beyond the limitation of nationality and district and then integrate it into the entirety of human management academic civilization.

Abstract:This paper adopts the mainstream research paradigm of management science to explore and classify the “problems”in “problem orientation”, and points out that in management theory research, we must investigate deep-rooted problems by constantly looking past the representational problems to the most essential and profound “meta-problems”. In addition, it points out that researchers have not yet established a strong problem consciousness, and the weakness of local researchers' academic discursive power in modern management, as well as the popularity of stylized and structured empirical scientific research methods, are the main reasons why “problem orientation”is still a problem. Moreover, besides “problem orientation”, we should also pay attention to the research methods of “logic orientation”and “theory orientation”.

Abstract:This paper discusses and expounds the problem-orientated theory for the management theory development which proposed by Sheng Zhaohan in the paper “Problem Orientation: Driving force of management theory development”. The author believes that “problem orientation”contributes to the development of management theory to be down-to-earth, calmly confronts the challenges of complex problems, restores the original intention of the mathematization of management problems, and at the same time breaks the bulwark of the subjects and achieves theoretical breakthroughs. For the “Interdisciplinary”issue of management theory development, the author believes that cognitive misunderstandings and disciplinary barriers should be eliminated. For the potential issues that caused by “problem orientation”, such as the “instrumentalization”of theoretical research, the limitation of“free exploration”and the formation of stereotypes in management school, the author puts forward some problems that need further consideration in the development of management theory.

Abstract:With the rapid progress and wide application of E-commerce, online reviews are ubiquitous, which has profound impacts on the decision behaviors of consumers and firms. From the social learning perspective, this paper firstly introduces the related concepts and learning mechanisms, and then reviews the associated current research, challenges and opportunities regarding operations management decisions. Based on the practice of operations management regarding products and services, four main future research areas (i. e., quality, service and information, various product categories, participants and learning across multiple platforms) and two research paradigms (i. e., behavioral experimental study and data-driven study) are suggested. The research issues on operations management decisions based on social learning suggested in this paper can be good directions of future research.

Abstract:The servitization of manufacturing has led enterprises to extend their core businesses to service industry. With the constraints of operational cost and service capacity, service is provided by either a supplier or a third-party service provider to achieve a higher service level for customers, thereby forming the vertical channel and networked channel respectively. This paper models and optimizes both channels. By comparing the service level, market supply and the profits of supply chain members, the optimal channel structures in different scenarios are discussed. The results show that the channel structure has no impact on service level if the service cost is constant. The optimal channel structure is determined by the service costs of suppliers and third-party service providers: if the service cost of the third-party service provider is low enough, service outsourcing and networked channel should be adopted to achieve Pareto Improvement.

Abstract:How to achieve good after-sales service for online retailers in the e-commerce environment is an important issue in China. This paper studies the price strategy of a dual channel retail system consisting of an online retailer and an offline retailer from the perspective of after-sales service cooperation in an e-commerce environment. By comparing the optimal price of both parties and service fee under decentralized decision-making model, this paper takes the optimal price under centralized decision-making model as the benchmark, and maximize the overall profits of both parties and realize profit distribution by applying two-part tariff mechanism, so as to achieve a win-win situation for both parties. Through the service cooperation under two-part tariff, this paper, on one hand, helps online retailers solve the problem of after-sales service, and on the other hand, brings additional service income to offline retailers, which improves profits of both companies. At the same time, unlike the vertical cooperation between manufacturers and retailers in traditional supply chain, this paper innovatively studies the horizontal cooperation between online and offline retailers, and proves that even two competing retailers can achieve win-win situation through cooperation, providing a good theoretical and practical guide for the cooperation and development between competing retailers.

Abstract:The positive relationship between entrepreneurial orientation and performance has been challenged recently and some researchers argue that their relationship is elusive. Liabilities of smallness and newness of new ventures have restrained the positive effect of EO on their performances. The practices of start-ups shows that the resource identification and acquisition capabilities and resource allocation and leverage capabilities of resource integration capabilities have crucial effects on the above relationship. Based on 234 samples of new ventures, this empirical study shows that entrepreneurial orientation has an inverted U shape relationship with performance, which is opposed to the mainstream results. Resource identification and acquisition capabilities and resource allocation and leverage capabilities moderate the nonlinear inverted U shape relationship, which means that increasing resource identification and acquisition capabilities or resource allocation and leverage capabilities increases the positive effect of low levels of EO on performance and reduces the negative effect of high levels of EO on performance. The results show that a reasonable entrepreneurial orientation will enhance the performance while lower or higher entrepreneurial orientation will cause the performance to decrease. In order to maintain the positive effect of entrepreneurial orientation on the performance, new ventures must improve their resource integration capability.

Abstract:Whether the introduction of margin trading and short selling decreases extreme co-movements between individual stocks and market index is an essential issue. Using the symmetrized Joe-Clayton copula (Patton[9]) , left and right tail dependence between individual stocks and market index are estimated, and a difference-in-difference (DID) analysis is applied to examine the treatment effect of margin trading and short selling. The paper finds that the newly introduced mechanism decreases left tail dependence, but increases right tail dependence. Further regression analysis finds that the above asymmetric effects result from the different impacts of margin trading and short selling on tail dependence. Particularly, margin trading has no significant effect on left tail dependence, but increases right tail dependence; short selling decreases both left and right tail dependence. As margin trading volume is far beyond short selling volume, the net effect is positive for right tail dependence, but negative for the left. Therefore, positive feedback trading strategies by margin traders amplify right tail dependence, while short selling incorporates the belief of pessimistic investors and cools down the market sentiment. Therefore, regulators should control the leverage ratio of margin trading, and improve the short selling mechanism to utilize its role as a price stabilizer.

Abstract:Considering the strong synchronism and linkage on economies, trades, and currencies between China and 6 countries of ASEAN (Association of Southeast Asian Nations) , based on financial data of main commercial banks in the 6 countries of ASEAN from 2000 to 2015, using three-year moving standard deviation of net interest margin as the proxy for interest rate risk, this paper examines how the deposit insurance system affects commercial banks' interest rate risk. Moreover, whether this influence would be different due to commercial banks' sizes, concentration of banking industries and legal institutions in the 6 countries of ASEAN is also examined. The results show that deposit insurance system can alleviate commercial banks' variability of net interest margin and stabilize the interest rate risk. Moreover, this stabilization effect can be influenced by commercial banks' sizes, concentration of banking industries and legal institutions in the 6 countries of ASEAN. This stabilization effect of deposit insurance system on commercial banks' interest rate risk is statistically significant, with reduction of the concentration in banking industries strengthening the stabilization effect, no matter in short-term or long-term. The promotion of the legal institutions in the 6 countries of ASEAN would weaken the stabilization effect in short-term but strengthen the effect in long-term. Besides, compared with commercial banks in high income counties in the sample, deposit insurance system has a more significant stabilization effect in middle-high and middle-low income countries of ASEAN.