{"id":"https://openalex.org/W3010319983","doi":"https://doi.org/10.3390/su12051850","title":"Business Strategy, State-Owned Equity and Cost Stickiness: Evidence from Chinese Firms","display_name":"Business Strategy, State-Owned Equity and Cost Stickiness: Evidence from Chinese Firms","publication_year":2020,"publication_date":"2020-03-01","ids":{"openalex":"https://openalex.org/W3010319983","doi":"https://doi.org/10.3390/su12051850","mag":"3010319983"},"language":"en","primary_location":{"id":"doi:10.3390/su12051850","doi":"https://doi.org/10.3390/su12051850","is_oa":true,"landing_page_url":"http://dx.doi.org/10.3390/su12051850","pdf_url":"https://www.mdpi.com/2071-1050/12/5/1850/pdf?version=1583761256","source":{"id":"https://openalex.org/S10134376","display_name":"Sustainability","issn_l":"2071-1050","issn":["2071-1050"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Sustainability","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/2071-1050/12/5/1850/pdf?version=1583761256","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5048249189","display_name":"Tingyong Zhong","orcid":"https://orcid.org/0000-0003-2208-931X","observed_orcids":["https://orcid.org/0000-0003-2208-931X"]},"institutions":[{"id":"https://openalex.org/I145581781","display_name":"Chongqing Technology and Business University","ror":"https://ror.org/05hqf1284","country_code":"CN","type":"education","lineage":["https://openalex.org/I145581781"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Tingyong Zhong","raw_affiliation_strings":["School of Accountancy, Chongqing Technology and Business University, Chongqing 400067, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Accountancy, Chongqing Technology and Business University, Chongqing 400067, China","institution_ids":["https://openalex.org/I145581781"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5050513541","display_name":"Fangcheng Sun","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I145581781","display_name":"Chongqing Technology and Business University","ror":"https://ror.org/05hqf1284","country_code":"CN","type":"education","lineage":["https://openalex.org/I145581781"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Fangcheng Sun","raw_affiliation_strings":["School of Accountancy, Chongqing Technology and Business University, Chongqing 400067, China"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"School of Accountancy, Chongqing Technology and Business University, Chongqing 400067, China","institution_ids":["https://openalex.org/I145581781"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101885141","display_name":"Haiyan Zhou","orcid":"https://orcid.org/0000-0003-3970-7612","observed_orcids":["https://orcid.org/0000-0003-3970-7612","https://orcid.org/0009-0001-1831-445X"]},"institutions":[{"id":"https://openalex.org/I2802326326","display_name":"The University of Texas Rio Grande Valley","ror":"https://ror.org/02p5xjf12","country_code":"US","type":"education","lineage":["https://openalex.org/I2802326326"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Haiyan Zhou","raw_affiliation_strings":["Robert Vackar College of Business and Entrepreneurship, University of Texas Rio Grande Valley, Edinburg 78539, TX, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Robert Vackar College of Business and Entrepreneurship, University of Texas Rio Grande Valley, Edinburg 78539, TX, USA","institution_ids":["https://openalex.org/I2802326326"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5040153972","display_name":"Jeoung Yul Lee","orcid":"https://orcid.org/0000-0002-8751-4594","observed_orcids":["https://orcid.org/0000-0002-8751-4594"]},"institutions":[{"id":"https://openalex.org/I145581781","display_name":"Chongqing Technology and Business University","ror":"https://ror.org/05hqf1284","country_code":"CN","type":"education","lineage":["https://openalex.org/I145581781"]},{"id":"https://openalex.org/I94588446","display_name":"Hongik University","ror":"https://ror.org/00egdv862","country_code":"KR","type":"education","lineage":["https://openalex.org/I94588446"]}],"countries":["CN","KR"],"is_corresponding":true,"raw_author_name":"Jeoung Yul Lee","raw_affiliation_strings":["National Research Base of Intelligent Manufacturing Service, Chongqing Technology and Business University, Chongqing 400067, China","School of Business Management, Hongik University, Sejong 30016, Korea"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Research Base of Intelligent Manufacturing Service, Chongqing Technology and Business University, Chongqing 400067, China","institution_ids":["https://openalex.org/I145581781"]},{"raw_affiliation_string":"School of Business Management, Hongik University, Sejong 30016, Korea","institution_ids":["https://openalex.org/I94588446"]}]}],"institutions":[],"countries_distinct_count":3,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5040153972","https://openalex.org/A5050513541"],"corresponding_institution_ids":["https://openalex.org/I145581781","https://openalex.org/I94588446"],"apc_list":{"value":1800,"currency":"CHF","value_usd":1901},"apc_paid":{"value":1800,"currency":"CHF","value_usd":1901},"fwci":4.6458,"has_fulltext":true,"cited_by_count":19,"citation_normalized_percentile":{"value":0.94290082,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"12","issue":"5","first_page":"1850","last_page":"1850"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.9355000257492065,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.9355000257492065,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10797","display_name":"Accounting and Organizational Management","score":0.054999999701976776,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.0013000000035390258,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cost-stickiness","display_name":"cost stickiness","score":0.9679999947547913},{"id":"https://openalex.org/keywords/business-strategy","display_name":"business strategy","score":0.9879999756813049},{"id":"https://openalex.org/keywords/state-owned-equity","display_name":"state-owned equity","score":0.7599999904632568},{"id":"https://openalex.org/keywords/differentiation-strategy","display_name":"differentiation strategy","score":0.8330000042915344},{"id":"https://openalex.org/keywords/low-cost-strategy","display_name":"low-cost strategy","score":0.9869999885559082},{"id":"https://openalex.org/keywords/managerial-expectations","display_name":"managerial expectations","score":0.9779999852180481},{"id":"https://openalex.org/keywords/ownership-structure","display_name":"ownership structure","score":0.7120000123977661},{"id":"https://openalex.org/keywords/chinese-listed-companies","display_name":"Chinese listed companies","score":0.7829999923706055}],"concepts":[{"id":"https://openalex.org/C9992130","wikidata":"https://www.wikidata.org/wiki/Q484954","display_name":"Pessimism","level":2,"score":0.7363770604133606},{"id":"https://openalex.org/C191935318","wikidata":"https://www.wikidata.org/wiki/Q148","display_name":"China","level":2,"score":0.5283452272415161},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5247485637664795},{"id":"https://openalex.org/C162704800","wikidata":"https://www.wikidata.org/wiki/Q744153","display_name":"Implicit cost","level":3,"score":0.48706725239753723},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.4654223620891571},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4398953914642334},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.43274638056755066},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3701137900352478},{"id":"https://openalex.org/C182299520","wikidata":"https://www.wikidata.org/wiki/Q1289588","display_name":"Total cost","level":2,"score":0.24676355719566345},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.3390/su12051850","doi":"https://doi.org/10.3390/su12051850","is_oa":true,"landing_page_url":"http://dx.doi.org/10.3390/su12051850","pdf_url":"https://www.mdpi.com/2071-1050/12/5/1850/pdf?version=1583761256","source":{"id":"https://openalex.org/S10134376","display_name":"Sustainability","issn_l":"2071-1050","issn":["2071-1050"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Sustainability","raw_type":"journal-article"},{"id":"pmh:oai:scholarworks.utrgv.edu:account_fac-1000","doi":null,"is_oa":true,"landing_page_url":"https://scholarworks.utrgv.edu/account_fac/1","pdf_url":null,"source":{"id":"https://openalex.org/S4306402611","display_name":"ScholarWorks @ UTRGV (The University of Texas Rio Grande Valley)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2802326326","host_organization_name":"The University of Texas Rio Grande Valley","host_organization_lineage":["https://openalex.org/I2802326326"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"School of Accountancy Faculty Publications and Presentations","raw_type":"text"},{"id":"pmh:oai:scholarworks.utrgv.edu:account_fac-1003","doi":null,"is_oa":true,"landing_page_url":"https://scholarworks.utrgv.edu/account_fac/4","pdf_url":null,"source":{"id":"https://openalex.org/S4306402611","display_name":"ScholarWorks @ UTRGV (The University of Texas Rio Grande Valley)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2802326326","host_organization_name":"The University of Texas Rio Grande Valley","host_organization_lineage":["https://openalex.org/I2802326326"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Accountancy Faculty Publications and Presentations","raw_type":"text"},{"id":"pmh:oai:RePEc:gam:jsusta:v:12:y:2020:i:5:p:1850-:d:326822","doi":null,"is_oa":false,"landing_page_url":"https://www.mdpi.com/2071-1050/12/5/1850/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:1a808f35c8c34355bfe51e265096e878","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/1a808f35c8c34355bfe51e265096e878","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Sustainability, Vol 12, Iss 5, p 1850 (2020)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.3390/su12051850","doi":"https://doi.org/10.3390/su12051850","is_oa":true,"landing_page_url":"http://dx.doi.org/10.3390/su12051850","pdf_url":"https://www.mdpi.com/2071-1050/12/5/1850/pdf?version=1583761256","source":{"id":"https://openalex.org/S10134376","display_name":"Sustainability","issn_l":"2071-1050","issn":["2071-1050"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-class-a","anvur-scientific","cwts-core","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Sustainability","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.46000000834465027,"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320327557","display_name":"National Office for Philosophy and Social Sciences","ror":"https://ror.org/04m0ms912"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3010319983.pdf","grobid_xml":"https://content.openalex.org/works/W3010319983.grobid-xml"},"referenced_works_count":71,"referenced_works":["https://openalex.org/W59168935","https://openalex.org/W146800516","https://openalex.org/W187254337","https://openalex.org/W606905423","https://openalex.org/W1004584821","https://openalex.org/W1588116673","https://openalex.org/W1591010233","https://openalex.org/W1665487241","https://openalex.org/W1946192238","https://openalex.org/W1970109483","https://openalex.org/W1976673073","https://openalex.org/W1996697576","https://openalex.org/W1998395049","https://openalex.org/W2017650282","https://openalex.org/W2017977212","https://openalex.org/W2027195879","https://openalex.org/W2044651061","https://openalex.org/W2044976747","https://openalex.org/W2056621186","https://openalex.org/W2067475882","https://openalex.org/W2078049569","https://openalex.org/W2080907792","https://openalex.org/W2086110977","https://openalex.org/W2103097556","https://openalex.org/W2105509278","https://openalex.org/W2111978931","https://openalex.org/W2117455041","https://openalex.org/W2123709218","https://openalex.org/W2123746971","https://openalex.org/W2131479318","https://openalex.org/W2131850093","https://openalex.org/W2133987202","https://openalex.org/W2144586887","https://openalex.org/W2152646183","https://openalex.org/W2158087138","https://openalex.org/W2170638339","https://openalex.org/W2315689871","https://openalex.org/W2396971203","https://openalex.org/W2414095680","https://openalex.org/W2478717278","https://openalex.org/W2504413632","https://openalex.org/W2585088656","https://openalex.org/W2610557638","https://openalex.org/W2768558477","https://openalex.org/W2784646476","https://openalex.org/W2846385702","https://openalex.org/W2917650380","https://openalex.org/W2922876072","https://openalex.org/W2972146911","https://openalex.org/W3121160405","https://openalex.org/W3121384412","https://openalex.org/W3121947872","https://openalex.org/W3121968750","https://openalex.org/W3122082991","https://openalex.org/W3122660013","https://openalex.org/W3122979540","https://openalex.org/W3123017429","https://openalex.org/W3123838817","https://openalex.org/W3123896783","https://openalex.org/W3124328514","https://openalex.org/W3124629868","https://openalex.org/W3124719912","https://openalex.org/W3124830097","https://openalex.org/W3125796028","https://openalex.org/W3125899499","https://openalex.org/W3126029975","https://openalex.org/W3144800719","https://openalex.org/W4234712938","https://openalex.org/W4237958945","https://openalex.org/W4253379966","https://openalex.org/W4255939450"],"related_works":["https://openalex.org/W2910472288","https://openalex.org/W3087087411","https://openalex.org/W2600230415","https://openalex.org/W2363803859","https://openalex.org/W4405432835","https://openalex.org/W4403600731","https://openalex.org/W2621034000","https://openalex.org/W4244517979","https://openalex.org/W4403271310","https://openalex.org/W2388778718"],"abstract_inverted_index":{"This":[0],"paper":[1],"investigates":[2],"the":[3,15,80,101,137,141,144],"relationship":[4,81],"between":[5,82],"business":[6,83],"strategy":[7,45,84,109,130,149],"and":[8,85],"cost":[9,36,39,60,66,73,86,102,123,151,164],"stickiness":[10,40,87,103,124,165],"under":[11],"different":[12,32,35],"ownership.":[13],"Using":[14],"data":[16],"from":[17,22],"listed":[18],"firms":[19,30,174],"in":[20,88],"China":[21],"2002":[23],"to":[24,98,119],"2015,":[25],"we":[26],"find":[27],"that":[28,49],"first,":[29],"with":[31,106,111,127,132],"strategies":[33],"exhibit":[34],"behavior.":[37],"The":[38],"of":[41,50,90,143,146,173],"choosing":[42,51],"a":[43,52,107,112,128,133,147],"differentiation":[44,108,134,148,177],"is":[46,104,125],"higher":[47,105,126],"than":[48,110,131,159,166],"low-cost":[53,113,129],"strategy.":[54,114,135,178],"Second,":[55],"management":[56,76,95,116],"expectations":[57,63,70,77,96,117],"will":[58,64,71],"affect":[59],"stickiness.":[61,74,152],"Optimistic":[62],"increase":[65],"stickiness,":[67],"while":[68],"pessimistic":[69],"reduce":[72],"Third,":[75],"can":[78],"adjust":[79],"terms":[89],"government-created":[91],"advantages":[92],"(GCAs).":[93],"If":[94,115],"tend":[97,118],"be":[99,120],"optimistic,":[100],"pessimistic,":[121],"then":[122],"Finally,":[136],"state-owned":[138],"equity":[139],"affects":[140],"extent":[142],"effect":[145],"on":[150],"State-owned":[153],"firms,":[154,161,168],"which":[155],"receive":[156],"more":[157,176],"GCAs":[158],"non-state-owned":[160,167],"have":[162],"stronger":[163],"even":[169],"if":[170],"both":[171],"categories":[172],"use":[175]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":6},{"year":2023,"cited_by_count":5},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":1}],"updated_date":"2026-10-29T09:56:32.521200","created_date":"2020-03-13T00:00:00"}
