The enterprise network is of great significance in explaining the risk-taking of individual firm. However, some unobservable networks hidden in different firms have long been neglected. Using the text data of the annual reports of China’s listed firms from 2007 to 2018, this paper adopts a textual analysis method to capture the managers’ perceptions of pressure, and build a special kind of hidden inter-firm networks, that is, the perceived competition networks of managers. In addition, this paper discusses the impact of (...) network characteristics on corporate risk-taking behavior. Empirically, there is a positive association between competition strength and corporate risk-taking, as well as the density of perceived competition network. Furthermore, this paper explores the risk-taking behaviors of peer firms in focal firm’s perceived competition network, and finds that the improvement of peer firms’ risk-taking significantly increases the risk bearing level of focal firm, that is, the positive spillover effect of risk-taking behavior among firms in perceived competition networks. Moreover, managers’ personal traits significantly moderate the impact of network characteristics on corporate risk-taking, which is mainly reflected in younger and male managers. Our findings can enrich the literature on social interactions and corporate behaviors, and help firms to improve their understanding of perceptible peer firms. (shrink)

The green economy is essential in supporting sustainable economic development and relies on talents and technologies. From the perspective of traditional economic theory, this study explores the impact of high-speed rail and innovation on the green economy from the perspectives of talent and technology. Using the data of 281 prefecture-level cities in China from 2008 to 2018, this study constructs empirical models to discuss the driving factors of the green economy. Empirical results show that high-speed rail and innovation can promote (...) the development of a green economy, and the opening of high-speed rail can strengthen the positive association between innovation and a green economy. The accessibility of high-speed rail improves the flow of talent between different cities and greatly stimulates the positive impact of innovation on green economic activities. In the further test, this study explores the impact of high-speed rail and innovation on the green economy from different dimensions, including government policy, economic strength, and administrative level. During China’s 12th Five-Year Plan, high-speed rail and innovation had a positive impact on the green economy, but the impact of innovation can still be significant after this period. Moreover, the opening of high-speed rail may motivate the migration of talents from developed cities to developing ones, while developed cities can rely on technological advantages to support green economic activities. Furthermore, low-administrative level cities will rely on attracting more talents to promote a green economy due to technological disadvantages. Innovation can play a critical role in enhancing the green economy of cities with high administrative levels. Talents and technology are both important to green economic activities, and the construction of high-speed rail changes the impact of technology on the green economy through the flow of talent. Our findings can explain why the opening of high-speed rail can promote the development of a green economy and effectively help governments achieve the goal of sustainable development. (shrink)

Previous research on the detrimental consequences of employees' unethical pro-organizational behaviors (UPB) has been based mainly on cognitive dissonance theory. The authors suggest that moral disengagement theory and cognitive dissonance theory can be used to explain the negative effects of UPB. We conducted two studies, including a scenario experiment and a survey, to test the mediating roles of moral identity and moral disengagement and the moderating role of performance pressure in the relationship between UPB and organizational deviance. The results revealed (...) that UPB impacts organizational deviance through moral identity and moral disengagement and that distinct psychological reactions are differentially moderated by performance pressure. Employees who face low levels of performance pressure are more receptive to the effects of moral identity; in contrast, employees who face high levels of performance pressure are more receptive to the effects of moral disengagement. The theoretical and managerial implications of this research are discussed. (shrink)