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This paper investigates whether China's R&D tax deduction policy triggers firms to manipulate their R&D expenditures upward.

This paper employs the ratio of actual tax savings as a proxy for the benefits of the R&D tax deduction policy based on manually collected and systematically cross-checked data. The relationship between tax benefits and abnormal R&D spending is estimated in a sample of Chinese A-share listed companies for the period 2007–2018.

The findings suggest that tax deductions lead to positive abnormal R&D spending and that this deviation in R&D spending may be attributed to firms' upward R&D manipulation for tax avoidance. The results also indicate that this behavior is more significant for the period after the policy revision, in non-HNTEs (high and new technology enterprises), and in firms with a high ratio of R&D expenses.

It is difficult to establish a sophisticated and unified model to identify the specific strategy of upward R&D manipulation that firms use to obtain tax benefits.

Managers should take into account upward R&D manipulation when designing governance mechanisms. Policymakers in developing countries may further pursue preferential tax policies that cover every stage of innovation activities gradually; the local provincial governments need to leverage their proximity and flexibility advantages to develop a tax collection and administration system.

This study contributes to the understanding of the complex effect of R&D tax incentives and helps more fully illuminate firms' upward R&D manipulation behavior from the perspective of tax planning strategies, which are underexplored in previous research.

The purpose of this paper is to provide a theoretical support for managers and investors and help them to identify corporate investment decisions on research and development (R&D) rationally.

Grouping and regression analysis are employed in the research.

The paper finds that managers in firms with medium accounting performance and at the border of profit target are prone to manage earnings by real R&D transactions, namely reducing R&D expenditures.

The conclusions are of great significance for innovation promotion in China.

The papers in this issue make a significant original contribution which will result in the better understanding of Chinese corporate finance management challenges from both theoretical and practical perspective. The paper aims to discuss these issues.

The papers of this issue have a wide range of coverage related to corporate finance, such as CSR disclosure, organizational structure, earnings management, ownership structure, media impact, corporate accidents, and institution background. Those papers selected are all based on empirical researches with the original designs of their modeling, by the real and fundamental data from the latest Chinese market and enterprises.

The author believes that such in-depth analysis and discussion will enhance the understanding for both researches and practitioners on the behavior of managing corporate finance in China. Those findings will contribute to the establishment of Chinese management theories and to the building of a wide range of Chinese management practices.

Although the angle of each paper varies, they are all trying to have a deep analysis which may unveil the behavior of corporate finance decision. Some of such behaviors will be beneficial to the long-term sustainable growth of the company, while others, though, may have the negative impact on the corporate value creation.

Wang has focused on the relationship between Das Kapital and the political economy in the broad sense. Numerous ideas covering the political economy in the broad sense are involved in the overall structure of Das Kapital, methodology of historical materialism and analyses of the historical fate of capitalist system. The paper aims to discuss these issues.

In broad outline, the Asiatic, ancient, feudal and modern bourgeois modes of production may be designated as epochs, marking progress in the economic development of society (Wang, 2007b). Historical materialism provides a new, scientific and objective explanation for understanding the dialectical development laws of society. It is crucial for constructing the theoretical system of a political economy in the broad sense. It could be said that it is the key to solving the puzzle of the historical course of social development.

Today, economic relations between the world’s top two economies have merged with each other. How can two countries with different systems trade with each other so well? These questions can no longer be answered with traditionally narrow political economic theory. The authors have to seek these answers from the perspective of a political economy in the broad sense.

Numerous ideas covering the political economy in the broad sense are involved in the overall structure of Das Kapital, methodology of historical materialism, and analyses of the historical fate of capitalist system.

In contrast to existing studies, this paper aims to propose that digital transformation does not depend on a single condition; rather, it depends on the interaction between internal and external factors of a firm. Therefore, the aim of this paper is to examine the effect of a combination of internal and external factors on a firm's digital transformation intention.

An empirical analysis on a sample of 112 Chinese small- and medium-sized firms was conducted by applying smart-PLS and fuzzy set qualitative comparative analysis (fsQCA).

The results of smart PLS show that external pressures (institutional and market pressures) and human capital have a positive impact on corporate digital transformation intentions. From a combination perspective, the results of the fsQCA show that there are five causal conditions that lead to high digital transformation intention. In contrast to the net effect, the results of fsQCA show that different combinations of states of internal (human capital, organizational culture and technological capital) and external elements (institutional and market pressures) of the firm are likely to stimulate digital transformation intention.

This study provides empirically based insights into firms' digital transformation intentions and advances the current understanding of the drivers and inhibitors of digital transformation. Unlike most current research, which tends to focus on the net effect of factors influencing the digital transformation of enterprises, this study focuses on identifying the core elements influencing enterprises' digital transformation intention, especially the joint effect of different factors, both internal and external to the enterprise. The combined SEM and fsQCA findings of this paper not only enrich the existing theories on digital transformation but also have high value in guiding the digital transformation of firms.

This study aims to explore the impact of search breadth and depth on corporate entrepreneurship (CE) through the mediating effect of opportunity discovery under the consideration of the technological environmental dynamism as a moderating factor.

This study adopts a quantitative method, collecting 246 questionnaires from high-tech firms in the national industrial park of the Yangtze River Delta zone in China. The authors examine the hypotheses using multiple hierarchical regressions and conduct Sobel and bootstrapping tests to further assess the mediating and moderated mediating effects of the variables.

The results indicate that both the relationship between search breadth and CE and the relationship between search depth and CE are mediated by opportunity discovery. The authors further show that technological environmental dynamism positively moderates the indirect effect of knowledge search breadth on CE and negatively moderates the indirect effect of knowledge search depth and CE.

This study provides a valuable theoretical framework for entrepreneurship literature by differentiating the effects of search depth and search breadth on the promotion of CE in established firms and pioneers the examination of the mediating role of opportunity discovery and the moderating role of technological environmental dynamism in these links as well.

This study aims to improve the accuracy of hyperspectral estimation of soil organic matter content.

Based on the uncertainty in spectral estimation, 76 soil samples collected in Zhangqiu District, Jinan City, Shandong Province, were studied in this paper. First, the spectral transformation of the spectral data after denoising was carried out by means of 11 transformation methods such as reciprocal and square, and the estimation factor was selected according to the principle of maximum correlation. Secondly, the grey weighted distance was used to calculate the grey relational degree between the samples to be estimated and the known patterns, and the local linear regression estimation model of soil organic matter content was established by using the pattern samples closest to the samples to be identified. Thirdly, the models were optimized by gradually increasing the number of modeling samples and adjusting the decision coefficient, and a comprehensive index was constructed to determine the optimal predicted value. Finally, the determination coefficient and average relative error are used to evaluate the validity of the model.

The results show that the maximum correlation coefficient of the seven estimated factors selected is 0.82; the estimation results of 14 test samples are of high accuracy, among which the determination coefficient R² = 0.924, and the average relative error is 6.608%.

Studies have shown that it is feasible and effective to estimate the content of soil organic matter by using grey correlation local linear regression model.

The paper succeeds in realizing both the soil organic matter hyperspectral grey relation estimating pattern based on the grey relational theory and the estimating pattern by using the local linear regression.

The aim of this paper is to investigate the factors influencing citizens' willingness to participate in the development of smart cities.

Citizens drawn from 30 second-tier cities in China were chosen as the research object for this empirical research. Based on citizenship behavior theory, research hypotheses were tested and analyzed using structural equation modeling (SEM).

The results indicated that information publicity has a direct and positive effect on residents' participation behavior. Perceived benefits, personal responsibility and subjective norms are positively associated with residents' citizenship. Additionally, citizenship was found to affect residents' participation intention positively. Finally, the moderating effect of information credibility in this context was also verified.

As one of the first empirical studies on this topic, this paper offers important guidance for future research regarding residents' participation in the development of smart cities. On this basis, the implications of this research with respect to policies that aim to encourage residents to participate in the construction of smart cities are discussed.

Studies of distributed leadership (DL) are increasing, but are not systematic, often taking a normative position emphasizing the superiority of DL to solo leadership and using the term in an imprecise way. The purpose of this paper is to re-conceptualize DL and develop a systematic framework to identify dimensions of DL and their association with team effectiveness.

Based on a comprehensive review of existing literature, this paper develops a systematic framework of DL and team effectiveness by deriving eight research propositions.

Based on two perspectives, role space occupation and dependency of actions, the paper identifies four main dimensions of DL: shared, conjoint, fragmented and dispersed leadership, each of which represents a specific pattern of DL activities. A leader-task-context (LTC) framework is developed to analyze outcomes of DL dimensions in different settings. The eight propositions developed clearly identify where DL can be best applied, how particular configurations of DL affect team performance, and in what situations it is most effective.

This paper has made several contributions. First, the authors address the question of what constitutes DL by conceptualizing its dimensions. Second, the authors extend the DL literature by arguing and modeling how different contexts influence the fulfillment of DL. Third, the authors develop an analytical framework of DL – the “LTC” framework – to help build a foundation and guide further research on the relationships between DL and team performance.