Does Multinationality Matter the Firm Performance?

Renhong WU,Yugang He,Md. Alamgir Hossain 한국유통과학회 2019 유통과학연구 Vol.17 No.7

Purpose - The relationship between multinationality and performance has become a hot topic in academic circles and is very important for multinational firms, especially for Chinese multinational firms, who need more experience to enter the international market. Given this background, this paper attempts to figure out the importance of multinationality to China’s firm performance and to explore whether the Four-stage Theory can also be applied to China’s firms. Research design, data, and methodology - We employ the panel data of 435 multinational firms from 2008 to 2017 chosen from China’s A-shares to conduct an empirical analysis by using a fixed-effects model. In the paper, the performance is represented by ROA (return on assets), treated as a dependent variable, and multinationality is represented by FSTS (foreign sales/total sales), treated as an independent variable. Results - We find that the performance first decreases then rises, then falls down, and rises again in the end. Hence there is a W-shaped relationship between the multinationality of the Chinese manufacturing industries and firm performance, proving that the four-stage theory is also applicable to Chinese multinational firms. Conclusions - These empirical results can provide some advice for policymakers to improve the firm performance such as reducing the logistics cost of multinationality.

A Study on the Relationship Between Multinationality and Performance: Evidence from China’s Firms

Renhong WU,Yugang HE 한국유통과학회 2019 The Journal of Industrial Distribution & Business( Vol.10 No.7

Purpose - Economic globalization provides firms with a new channel to gain benefits from foreign countries. Therefore, using the real MNEs, this paper set China’s firms as an example to explore the relationship between multinationality and performance. Research design, data, and methodology - Panel data from 2008 to 2017 was used and 390 multinational firms listed in China’s A-share market was selected. Additionally, related econometric methods were employed to analyze the relationship between multinationality and performance in this study. The return on assets was treated as a dependent variable, and the sales of a firm, the firm age, the debt asset ratio of a firm, the ratio of foreign sales to total sales and the enterprise properties were treated as independent variables. All of these factors were used to conduct an empirical analysis. Results - The empirical findings in this study revealed that there is a linear relationship between multinationality and performance, as well as that non state-owned enterprises (non-SOEs) have a greater effect on the relationship between multinationality and performance than that of the state-owned enterprises (SOEs). Conclusions - On the basis of evidences this paper provided, China’s government should take measures in the future to help China’s firms when they fulfil international economic activities.

Analysis of the Relationship between Multinationality and Performance Among Chinese Manufacturing Firms

Wu Renhong 한중경제문화학회 2019 한중경제문화연구 Vol.13 No.-

The Influence of E-commerce Logistics Service Quality on Customer Engagement Behavior

Dongxu ZHANG(Dongxu ZHANG),Zhuoqi TENG(Zhuoqi TENG),Mufeng LI(Mufeng LI),Renhong WU(Renhong WU) 국제융합경영학회 2023 융합경영연구 Vol.11 No.2

Purpose: With the rapid development of e-commerce, logistics services, as an important part of e-commerce shopping, have gradually attracted people's attention. Customer engagement behavior is a new topic in marketing, and its connotation is still being explored. The purpose of this paper is to study the relationship between logistics service quality and customer engagement behavior. Research design, data and methodology: This study employed the method of online questionnaire survey, with Chinese e-commerce platform users as the survey objects, 248 valid survey sample data were collected, and the method of factor analysis and structural equation model analysis was used to verify the research hypothesis model constructed in this paper. Results: The four dimensions of e-commerce logistics service quality have different influences on customer satisfaction, and the influence of availability on customer satisfaction is not significant. Convenience, assurance, and security have a significant positive impact on customer satisfaction; Customer satisfaction has a significant positive impact on the three dimensions of customer engagement behavior: customer repeat purchase behavior, online word-of-mouth, and customer referrals. Conclusion: The results of this study will provide useful reference for the managers of e-commerce companies to improve customer engagement behavior by improving the logistics service quality.

Buckling Modes of Cold-Formed Thin-Walled Steel Beams Under Different Impact Positions

Chang Wu,Junwei Duan,Renhong Wang,Ziheng Yang 한국강구조학회 2023 International Journal of Steel Structures Vol.23 No.1

This paper aims to study the buckling mode of cold-formed thin-walled channel steel beams under different impact positions. The impact test of the thin-walled channel steel beams was carried out using a drop hammer to obtain the acceleration of the measuring point and the buckling mode of the member. The experimental results and ANSYS/LS-DYNA numerical simulation results are compared and analyzed. The results show that the acceleration curve change trend obtained from the test is similar to numerical simulation. The difference between the acceleration obtained by numerical simulation and the maximum value obtained by test accounts for 5.86% of the simulated value. Therefore, the dynamic response results of cold-formed thin-walled channel steel beams under numerical simulation can be effectively verified by the test. Numerical simulation methods are used to analyze the dynamic response of two groups of members under impact at different positions and the corresponding buckling modes. The results show that the buckling of the members at 1/2, 1/3, and 1/4 of the flange of the impact member is similar to the O-I mode under the same conditions. The buckling mode is half-O mode when the midpoint of the intersection line between flange and web is impacted. The buckling mode is U-shaped when the midpoint of the intersection line between flange and the curling edge is impact.

Energy Consumption and Exercise Effect of University Students During Automatic Stepper Exercise

Shuchang LIU,Renhong WU,Xinlong LI 한국식품보건융합학회 2022 식품보건융합연구 (KJFHC) Vol.8 No.3

Purpose-Meat plays an important role in the Chinese daily diet, however, due to the spread of COVID-19, food supply and safety have become a major concern. The safety and health features of chilled fresh meat have attracted the attention of consumers. To study consumers’ purchasing behavior and willingness to pay for chilled meat under the influence of the epidemic. Research methodology- The data were obtained by questionnaire survey, major issues include consumers' meat consumption habits in the wake of the COVID-19 and their awareness of meat product quality labels. In addition, the gender, age, family income, and other basic personal information of the interviewees were also counted. Based on the binary Logit regression method, we study consumers' purchasing behavior and willingness to pay for chilled meat under different demographic characteristics. Results-The results showed that brand and quality certification are important factors influencing purchases. In addition, the presence of children under the age of 12 in the household and the level of income and education also influence consumers’ purchase intention of the chilled fresh meat. However, mart promotions and city ratings can significantly lower consumers' propensity to buy the chilled fresh meat. Apart from this, such factors as gender, age, and living conditions have no significant influence on consumers' purchase of chilled fresh meat.

Does Individual's Income always Matter Happiness?: Evidence from China

Yugang HE,Renhong WU 국제융합경영학회 2020 웰빙융합연구 Vol.3 No.1

As people's income rises dramatically, people's happiness seems not as high as expected. In fact, there are two different arguments about the relationship between income level and happiness. The focus of the debate is whether the correlation between income and probability of happiness is positive or negative. Therefore, we hypothesizes that the relationship between income and probability of happiness presents an inverted U-shaped curve. Then, this paper sets China as an example to explore the effect of income on happiness. The data from the Chinese General Social Survey (CGSS) in 2015 is employed to conduct empirical analyses under the Probit model and the Zero-Inflation-Passion model. The empirical findings indicate that the effect of income on happiness presents an inverted U-shaped curve and significantly in statistic. Meanwhile, spouse’s income, educational level, marriage time and house property have a positive and significant effect on happiness.Conversely, age and local living standards have a negative and significant effect on happiness. Unfortunately, even though registered residence and children have a negative effect on happiness, they do not get through the significant test. In order to ensure the robustness of our empirical results, we test the robustness of the above empirical results by adjusting the sample size. The results of robustness test verify that our empirical results are robust. Moreover, this paper also makes a small contribution to the current literature with a sample from China.

Does Internationalization Matter for Corporate Social Performance of Chinese Listed Firms?

Ruize Cai,Renhong Wu,김민호 한국산업경제학회 2020 한국산업경제학회 정기학술발표대회 논문집 Vol.2020 No.12

International Logistics: Does It Matter in Foreign Trade?

HE, Yugang,CHOI, Baek-Ryul,WU, Renhong,WANG, Yinhui Korea Distribution Science Association 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.2

Economic globalization provides a good channel for the development of foreign trade around the world. Due to this background, this paper sets the Organization for Economic Co-operation and Development (OECD) countries as a sample to explore the importance of international logistics in foreign trade. An annual panel data from 2000 to 2017 will be used to conduct an empirical estimation under the panel unit root test and the fixed effect model. Foreign trade is treated as an explained variable and international logistics is treated as explanatory variables. The findings show that international logistics have a positive spillover effect on export trade and the speed of international logistics development has a regulatory effect on the relationship between both of them, which presents a U-shaped curve. When the speed of international logistics development is slow, an increase of it restrains the positive spillover effect of international logistics on export trade. However, when it rises to a certain extent, this increase releases the positive spillover effect of international logistics on export trade. As can be seen by the evidence that this paper provides, the impact of international logistics on foreign trade is dynamic. Moreover, this paper also puts forward some corresponding measures about the relationship between both of them.

What Role does China’s Outward Foreign Direct Investment Play in Economic Growth of Korean Peninsula?

( Yugang He ),( Baek-ryul Choi ),( Renhong Wu ),( Jingnan Wang ) 이화여자대학교 통일학연구원 2020 Journal of peace and unification Vol.10 No.2

This paper contributes to the present research stream by exploring the effect of China’s OFDI over the period 2003-2019 in the case of Korean peninsula. On account of the auto-regressive distributed lag model and Granger causality approach of vector error correction, an inference is drawn that China’s OFDI significantly contributes to the economic growth in Korean peninsula whenever in the short run and long run. However, this kind of contribution is asymmetric in which the contribution of China’s OFDI to North Korea’s economic growth is greater than that of South Korea. Moreover, the long-run causality results originate the bi-directional causality between China’s OFDI and economic growth in Korean peninsula.