Quality-oriented growth: a new trend for Chinese firms

Tang Li, Pingtian Wang, Xingyan Liu and Hong Cheng

China Economic Journal, 2017, vol. 10, issue 1, 34-46

Abstract: Based on data from the China Employer-Employee Survey (CEES), this study analyses the actual effect of quality-driven growth on firms’ performances in the economic transition of recent years. The results show positive and significant effects between the firms’ performance and quality-oriented growth, which is defined as a strategy that supports the spirit of greater entrepreneurial innovation, the advancement of input quality, and corporate governance improvement. Using a quality-driven growth mode, firms can effectively relieve the adverse effect of downward macroeconomic growth pressure on performance. This study proposes that China’s macroeconomic policy should shift from demand-oriented management to supply-oriented management, with a particular focus on quality development strategy. Moreover, firms should establish a quality-driven development strategy, facilitating a spirit of entrepreneurial innovation, advancing input quality, and improving corporate governance. This strategy will increase the firm’s performance, and effectively relieve the macroeconomic downward pressure.Abbreviations: CEES: China Employer-Employee Survey, TFP: Total factor productivity

Date: 2017
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DOI: 10.1080/17538963.2016.1274006

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