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Jinjing Zhao

Hanyang University · Business, Management and Accounting

About the Lab

Professor Jinjing Zhao's research lab specializes in international business and corporate strategy, with a focus on Chinese outward foreign direct investment (OFDI) in the context of major national initiatives such as the Belt and Road Initiative (BRI), Made in China 2025, and institutional frameworks like Bilateral Investment Treaties (BITs) and multilateral development banks (e.g., AIIB). The lab investigates how enterprise ownership structure—particularly state-owned enterprises (SOEs) versus private firms—affects OFDI decisions and performance, while also exploring the role of digital transformation in enhancing ESG (Environmental, Social, and Governance) performance. Additionally, the lab examines consumer behavior in digital and logistics contexts, especially under crisis conditions such as the COVID-19 pandemic, with a focus on perceived value and psychological outcomes in online retail. The research integrates empirical econometric methods with institutional and behavioral theories to provide policy-relevant insights for China’s global investment strategy and sustainable enterprise development.

outward FDIBelt and Road Initiativedigital transformationenterprise ownershipESG performance

Research Overview

Papers
24
Total Citations
198
Papers (5y)
17
Primary Field
Business, Management and Accounting

Research Output Trend

Figures are computed from collected data and may differ slightly.

Publications per year (5y)
17total
2021
2022
2023
2024
2025
Citations per year (5y)
163total
20212022202320242025

Selected Papers

15
1
Article|28 citations·2023
Green outward foreign direct investment and host country environmental effects: The home country's carbon emission reduction system is crucial
Jinjing Zhao, Jie Pan, Xiangwei Xie, Miao Su
SJR Q1Energy
Economics and EconometricsEconomics, Econometrics and Finance
2
Article|27 citations·2020
The Belt and Road Initiative, Asian infrastructure investment bank, and the role of enterprise heterogeneity in China’s outward foreign direct investment
Jinjing Zhao, Jong‐Chul Lee
SJR Q2Post-Communist Economies

This study analyses Chinese enterprises’ outward foreign direct investment (OFDI) from the perspectives of the Belt and Road Initiative (BRI) and home-country enterprise heterogeneity. It analyses the roles of BRI and the Asian Infrastructure Investment Bank (AIIB) in China’s OFDI using enterprise-level data for 2008–2017 from China Global Investment Tracker on Chinese enterprises’ OFDI in 128 countries. The results show that the roles of the BRI or AIIB in Chinese enterprises’ OFDI varies based

Strategy and ManagementBusiness, Management and Accounting
3
Article|24 citations·2024
How effective is digital transformation? Heterogeneous insights from listed companies’ ESG performance
Xiangwei Xie, Hongyu Zhu, Jinjing Zhao
SJR Q1Humanities and Social Sciences CommunicationsOA

The study empirically examines the impact of firm digital transformation (DT) on the performance of Chinese-listed enterprises in the areas of environmental, social, and governance (ESG) from 2013 to 2022. We utilized OLS, IV 2SLS causal mediating effect, and moderating effect models to analyze the linkages and deep mechanisms between corporate DT and ESG performance. The empirical findings demonstrate that (i) DT has an effectively positive effect on the performance of firms’ ESG; (ii) DT enhan

AccountingBusiness, Management and Accounting
4
Article|18 citations·2022
The determinants of China’s outward foreign direct investment: a vector error correction model analysis of coastal and landlocked countries
Yanfeng Liu, Miao Su, Jinjing Zhao, Sally Martin, Kum Fai Yuen, Choong-Bae Lee
SJR Q2Economic Change and RestructuringOA
General Economics, Econometrics and FinanceEconomics, Econometrics and Finance
5
Article|17 citations·2021
Online retailer cold chain physical distribution service quality and consumers: evidence from China during the COVID-19 pandemic
Miao Su, Jinjing Zhao, Guanqiu Qi, Junseung Kim, Keun-Sik Park
SJR Q1International Journal of Logistics Research and Applications

In order to improve the satisfaction of online retail consumers and explore the process of forming consumer loyalty during the COVID-19 pandemic, this research combines the theories of perceived value and affect-as-information, taking cold chain logistics services (PDS) as an example to discuss the influence of PDS quality (PDSQ) of online retail cold chain on consumers' psychological emotion (satisfaction and psychological distress), attitude, and behaviour (loyalty). We collected 350 valid res

Economics and EconometricsEconomics, Econometrics and Finance
6
Article|15 citations·2025
Escaping regulation or embracing innovation? Substantive green Innovation's role in moderating environmental policy and outward foreign direct investment
Jinjing Zhao, Li Ai, Taewoo Roh, Miao Su
SJR Q1Energy
Economics and EconometricsEconomics, Econometrics and Finance
7
Article|15 citations·2024
Consumers’ usage of errand delivery services: The effects of service quality and consumer perception
Jinjing Zhao, Qing Liu, Min‐Kyu Lee, Guanqiu Qi, Yanfeng Liu, Yanfeng Liu
SJR Q1Journal of Retailing and Consumer Services
MarketingBusiness, Management and Accounting
8
Article|13 citations·2021
Technological innovation policy and Chinese heterogeneity enterprises' outward foreign direct investment
Jinjing Zhao, Jong‐Chul Lee
SJR Q2International Journal of Emerging Markets

Purpose The study aims to analyze the role of the Made in China 2025 (MIC2025) initiative in China's Outward Foreign Direct Investment (OFDI) and the factors affecting the success or failure of Chinese enterprises' OFDI from the perspectives of the heterogeneity of home country enterprises. Design/methodology/approach Based on data on China's OFDI obtained from the China Global Investment Tracker (CGIT), the study uses the difference-in-differences model to analyze 2,670 completed OFDI deals and

Strategy and ManagementBusiness, Management and Accounting
9
Article|10 citations·2024
Embracing new energy vehicles: An empirical examination of female consumer perspectives
Jinjing Zhao, Yiming Su, Mingjie Fang, Miao Su, Miao Su
SJR Q1Journal of Retailing and Consumer Services
Electrical and Electronic EngineeringEngineering
10
Article|9 citations·2025
The burden of migraine and predictions in the Asia–Pacific region, 1990–2021: a comparative analysis of China, South Korea, Japan, and Australia
Yunxia Wang, Guangshuang Lu, Jinjing Zhao, Wei Dai, Na Zheng, Guo-En Yao, Ruozhuo Liu
SJR Q1The Journal of Headache and PainOA

Migraine remains a significant public health challenge across all four countries, with age, gender, and demographic changes playing key roles in burden variations. The study highlights the need for region-specific healthcare strategies and age- and gender-sensitive interventions. Future research should explore socioeconomic, behavioral, and healthcare access factors to refine migraine management strategies.

Psychiatry and Mental healthMedicine
11
Article|7 citations·2019
Enterprises Heterogeneity, Bilateral Investment Treaty (BIT) and the Determinants of Chinese Firms’ Outward Foreign Direct Investment (OFDI)
Jinjing Zhao, Jong‐Chul Lee
The Journal of International Trade & Commerce

This paper analyzed Chinese enterprises’ outward foreign direct investment (OFDI) from the perspectives of Bilateral Investment Treaties (BIT) and enterprise heterogeneity. Firstly, in terms of BIT, we found that the existing literature was mainly focused on BIT and developed countries’ investment in developing countries as the research subject, and rarely discussed the role of BIT in OFDI by developing countries. In addition, in terms of enterprise heterogeneity, due to a limited dataset, the p

Strategy and ManagementBusiness, Management and Accounting
12
Article|7 citations·2022
Home country institutional restraint and outward foreign direct investment: Evidence from Chinese heterogeneity enterprises
Jinjing Zhao, Miao Su, Jiang Yi, Jong‐Chul Lee
SJR Q2Journal of International Trade & Economic Development

Based on an analysis of 2671 outward foreign direct investment (OFDI) deals completed by Chinese enterprises from 2009 to 2018, this study evaluated the role of the OFDI regulatory policies on Chinese heterogeneity enterprises’ OFDI. The difference-in-differences model is applied with the OFDI data to control the influence of endogeneity resulting from missing variables. The results show that the regulatory policies’ effect on Chinese enterprises’ OFDI varies with the ownership structure of the

Strategy and ManagementBusiness, Management and Accounting
13
Article|3 citations·2025
Errand delivery adoption by business users: Integrated perceived SERVQUAL model within TOE- TAM model
Jinjing Zhao, Qing Liu, Hosung Son, Yanfeng Liu
SJR Q1Research in Transportation Business & Management
Information Systems and ManagementDecision Sciences
14
Article|2 citations·2024
Does Industrial Structure Upgrading Promote China’s Outward Foreign Direct Investment (OFDI) in ASEAN Countries? Evidence from Provincial Panels
Li Ai, Jinjing Zhao, Zhenqing Su, Miao Su
SJR Q2EconomiesOA

Numerous studies have explored the impact of Outward Foreign Direct Investment (OFDI) on upgrading industrial structures in home countries. However, a notable gap exists in the literature regarding the reverse relationship. Based on the cross-border greenfield investment data of Chinese provinces in Association of Southeast Asian Nations (ASEAN) countries from 2003 to 2021, this study employed the Ordinary Least Squares (OLS) model to evaluate the impact of industrial upgrading in each province

General Economics, Econometrics and FinanceEconomics, Econometrics and Finance
15
Article|2 citations·2021
Consumer Psychological Factors that Affect Chinese Donation Satisfaction and Continuous Donation Intention with Food Banks
Jiang Yi, Jinjing Zhao
Korea International Trade Research Institute
Cultural StudiesSocial Sciences

Research Areas

Strategy and ManagementEconomics and EconometricsGeneral Economics, Econometrics and FinanceMarketingElectrical and Electronic EngineeringAccounting

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