This study aimed to study the influence of the interactive budget on enterprise innovation performance from the perspective of managerial psychology, and to examine the mediating effect of managers’ stress and the moderating effect of environmental turbulence in this influence. The study collected 228 managers’ data in the Yangtze River Delta region of China through online questionnaires; the structural equation model is constructed by IBM SPSS Amos 24.0, and the data is analyzed by Mplus 7.4 and IBM SPSS 23.0. The results showed that: (1) an interactive budget positively affects enterprise innovation performance; (2) the role stress of managers plays a partial mediating role in the relationship between an interactive budget and enterprise innovation performance; (3) environmental turbulence positively moderates the relationship between the interactive budget and enterprise innovation performance; and (4) the positive effect of the interactive budget on enterprise innovation performance is more significant in enterprises with a high proportion of female managers, and the negative effect on the role stress of managers is more significant in high-tech enterprises. In theory, the results enrich the research on the impact of an interactive budget on individual managers’ psychology, and further reveals the “black box” of the impact of an interactive budget on enterprise innovation performance; in practice, the results make enterprises attach importance to the influence of control environments on the psychological health of managers, and provides a reference for enterprises to use control methods rationally to promote innovation in budget management.

Purpose: This study investigates the impact of interactive control on firm innovation performance. It also examines the mediating roles of both proactive capability and reactive capability of supply chain resilience in the relationship between interactive control and innovation performance as well as the moderating effect of environmental turbulence. Design/methodology/approach: A questionnaire was distributed online to 306 managers from companies in China’s Yangtze River Delta region. Structural equation modeling was primarily constructed using AMOS 24.0, with data analysis conducted through SPSS 26.0. Findings: Interactive control positively influenced firm innovation performance through both the proactive and reactive capabilities of supply chain resilience. The mediating effect of the reactive capability of supply chain resilience was more significant. Environmental turbulence positively moderated the impact of interactive control on innovation performance as well as its effect on the reactive capability of supply chain resilience. Further analysis revealed that the positive impact of interactive control on firm innovation performance was more pronounced in companies with a higher proportion of female managers and in high-tech enterprises. Practical implications: This study helps managers effectively utilize interactive control to stimulate innovation vitality. It also provides valuable insights for optimizing supply chain resource allocation in uncertain environments, ensuring the enhancement of firm innovation performance. Originality/value: This paper divides supply chain resilience into proactive capability and reactive capability. It empirically examines the mediating effects in the relationship between interactive control and innovation performance, thereby uncovering the “black box” between interactive control and firm innovation performance.

Purpose: This paper takes Chinese A-share listed companies from 2007 to 2021 as research samples to investigate the influence of supplier concentration on debt maturity structure and its mechanism. It further analyzes whether the relationship between the two is different in the case of different monetary policies, collateral assets, and total debt. The research conclusion is of practical significance for enterprises to construct a balanced debt maturity structure and prevent financial risks. Design/methodology/approach: This paper adopts the empirical research method. The data came from the CSMAR database, which eliminated ST and *ST and companies with missing data, resulting in a sample of 20,328. Stata16 was used for statistical analysis. Findings: There is an inverted U-shaped relationship between supplier concentration and debt maturity structure, and market position and trade credit play an intermediary role. In the case of tight monetary policy, fewer collateral assets, and higher total debt, the inverse U-shaped relationship is more significant. Originality/value: This paper examines the relationship between supplier concentration and debt maturity structure from a non-linear perspective for the first time, providing theoretical support for enterprises to form a reasonable debt structure, and deepening the theoretical cognition of the relationship between supplier concentration and corporate debt maturity structure.

This paper aims to investigate the law and logic mechanism of management control matching pattern and company strategy aggressiveness under different strategies by textual analysis, based on the empirical data of Chinese A-share listed companies during the period from 2010 to 2018. Additional analyses further investigate the moderating effect of environmental uncertainty and R&D intensity on the relationship between management control matching type and strategy aggressiveness. The conclusion can help relevant departments to develop management control theory and method system with Chinese characteristics and provide theoretical reference for the matching mode of dual control. This paper uses the text analysis method. The main explanatory variables are analyzed using the computer SQL Server database software through the relevant text of the board of directors report in the company annual report. Other financial data came from the CSMAR database, excluding ST and PT and companies with missing data, and 16,902 samples were finally obtained. This paper conducted statistical analysis through Stata12. This paper shows that the matching pattern between formal and informal control is divided into three types. They have different impacts on strategy aggressiveness. Specifically, consistent matching type II significantly positively influences the aggressiveness of offensive strategy. Consistent matching type I significantly positively influences the aggressiveness of defensive strategy. Complementary matching type I significantly positively influences the aggressiveness of analytical strategy. Additional analyses find that compared with non-high-tech companies, high-tech companies have more significant influence on the relationship between management control matching pattern and company strategic aggressiveness. And compared with other two “strategy-control” matching patterns, both environmental uncertainty and product innovation have more significant influence on the relationship between consistent matching II and offensive strategy aggressiveness. To the best of the authors’ knowledge, this paper divides the formal and informal control matching patterns of management control into three categories for the first time. It examines the relationship between the formal and informal control matching of management accounting and the degree of strategy aggressiveness. The conclusion provides new empirical evidence to promote the effective implementation of development strategies for companies. It can help relevant departments to develop management control theory and method systems with Chinese characteristics and provide theoretical references for the matching mode of dual control.

Using empirical data in China from 2010 to 2018, this paper investigates the relationship between management control matching patterns and different modes of innovation by introducing a text analysis method. The study found that adaptation matching pattern has a significant positive impact on radical innovation, execution matching pattern has a significant positive impact on incremental innovation, and compensatory matching has a significant positive effect on balanced innovation. Additional analyses further show that the positive ‘control-innovation’ relationship becomes more significant in high-tech firms. Environmental uncertainty and the degree of executive risk preference have a heterogeneous regulatory effect on the choice of control matching and innovation model.