Research On Influencing Factors Of Two-oriented Enterprise Development And Its Relation Between Enterprise Performance

Thanks to the policy of reformation and opening,Chinese economy has developed quickly. However,the contradiction between economic development and resource environment surges increasingly. Especially along with the quickening process of industrialization, resource consumption is greatly increased. Moreover, pollution brought by Industrialization has intensified. Meanwhile, we have to face the two facts:Firstly, high resource consumption, low resource use efficiency. Secondly, industrial development pays the huge environmental costs.Faced with the grim situation of tight resource constraints, serious environmental pollution and ecosystem degradation, an explicit proposal to accelerate the construction of resource-saving and environment-friendly society, which can is supposed to promote coordinated economic development, population resources and environment, was put forward for the first time on the Fifth Plenum of the16th CPC in2005.Seventeenth Party Congress report in2007put forward "to promote a conservation culture by basically forming an energy-and-resource-efficient and environment-friendly structure of industries, pattern of growth and mode of consumption." The eighteenth congress report in2012has made it clear that we must establish an ecological civilization concept of respecting and protecting nature by putting ecological civilization construction in a prominent position, integrating it into all aspects and the whole process of economic, political, culture, society construction. From the micro level, based on social responsibility, enterprise is an essential part of society, with advantages in resources which are not available for other members of society. Thus the logical foundation of the responsibility of the primary environmental conservation body is laid. The new "Company Law" in2006, a major institutional innovation is to bring corporate social responsibility, including environmental conservation, into the terms of the law, which specified company engaged in business activities must take social responsibility. Based on the long-term development, industrial enterprises are facing that energy consumption, serious pollution, low-tech as well as the extensive mode of management has become the main obstacle restricting the sustainable development. Thus, two-oriented enterprise development is the core of this study.In this paper, a combination of theoretical analysis and empirical research methods is used to analyze the above issues in a more deep and systematic way. The main research work focused in the following areas:(1) On the basis of the literature searching, this article summarizes research content of this development and establishes an analysis system of "influence factors-two-oriented enterprise development-result". Based on this system, a theoretical framework of causes and consequences is firstly established. In this framework, motives and major obstacles are analyzed from the angles of external and internal environment. And the mechanism of how the two-oriented development affects the enterprise economic performance by both tangible and intangible resources is elaborated. On this basis, an analytical framework from both internal and external dimensions is built to conduct the theoretical analysis of the factors that affect efficiency of two-oriented enterprise development. With all the work, an influencing factor model is built to conduct the empirical analysis. Finally, the effects of two-oriented enterprise development for its economic performance are inspected.(2) Establish a theoretical framework of causes and effects of two-oriented enterprise development.Based on Kurt Lewin’s Social Behavior General Rule Formula, the motivation and the main obstacles are analyzed from the angle of both internal and external environment.When it comes to the motivation of two-oriented development, there are four major points from the external environment:market demand, technological progress, government action drive and the need to enter the international market. There are also four major points from the internal environment:management awareness, the pursuit of economic interests, the improvement of enterprise reputation and the needs of sustainable development.Major obstacle from external environment for the two-oriented enterprise can be concluded into: development stage restriction, difficulties to implement economic instruments and insufficient punishment mechanism; while from internal environment, management cognitive lag and the contradiction of development goals.In accordance with the resource-based theory, it is the heterogeneous resources that serve as a key factor in deciding enterprise performance. The resources can be divided into tangible resources and intangible resources. The two-oriented development will be beneficial to improve both. On the one hand, Enterprises need to accumulate heterogeneous tangible resources, which are with low transparency, difficult to imitate and replace, to improve enterprise efficiency of resource use, as well as to reduce the production costs of raw materials and environmental pollution. On the other hand, this kind of development can help improve reputation, through which the enterprises accumulate intangible resources. Enterprise economic performance will benefit from the increase of the two resources.(3) Evaluation theory and efficiency theory are used to construct a set of evaluation index system of two-oriented enterprise development. The index system will divide input into resources and energy investment and output is divided into environment output and economic output. Based on this, super efficiency DEA is used to sample enterprise to measure their efficiency. Meanwhile, after dividing the sample enterprises into different types, this paper finds out:Factors as firm size, business region, industry characteristics and factor intensity, make differences in efficiency of two-oriented development between enterprises.(4) Construct a factors model on two-oriented enterprise development efficiency from both internal and external dimensions. In this model, technological advances, two-oriented culture, capital adequacy, environmental regulation, price of resources use and government incentives are used as the explanatory variable. Then, Dynamic Generalized Method is used to analyze the factors that affect the efficiency. Then, internal factors that affect the difference of the efficiency is analyzed from angles of different enterprise types. The results show:①The price of resources use, government incentives, technological advances, two-oriented culture has a significant positive effect on the development efficiency;②Environmental regulation and capital adequacy play a nonsignificant role on development efficiency in the economic sense;③Factors as business region, firm size, industry characteristics and ownership structure, make differences in efficiency of two-oriented development between enterprises. Some suggestions according to the results above are also put forward.(5) The effect of two-oriented development on enterprise performance is analyzed based on the cost theory, resource-based theory and the theory of social responsibility; both direct and indirect impact pattern are identified through the method of empirical analysis.This paper will divide this into direct and indirect effects:first, the direct economic performance improvement by saving energy and environmental resources cost of emissions; second, the indirect improvement by performing social environment responsibility and improving their social reputation. By putting those two factors into the enterprise profit maximization analysis framework, through the theoretical model derivation, relevant proposition is put forward and empirical research is conducted based on the hypothesis. The results show: the economic efficiency of two-oriented development based on the total effect is always positive. But according to the division of the enterprise type, when other factors under control, enhancing the two-oriented level on enterprise economic benefits play a role of promotion.(6) Taking a automobile manufacturing enterprise for case analysis, this essay obtains useful insights. Suggestions are proposed from the construction of the external environment and endogenous capacity to the development of enterprises.