School of Management, Shijiazhuang Tiedao University, Shijiazhuang, China.
School of Management, Hebei GEO University, Shijiazhuang, China.
Front Public Health. 2022 Oct 18;10:811876. doi: 10.3389/fpubh.2022.811876. eCollection 2022.
The elderly population in China is expected to exceed 300 million and enter the stage of moderate aging during the 14th Five-Year plan period from 2021 to 2025. From the sustainable development perspective of elderly care enterprises, the supply of elderly care services would be unsustainable if enterprises suffer long-term losses. In the latter pursuit of high profits, the burden on consumers will increase. Equity financing of these enterprises is the key to achieving high-quality transformation and development by considering economic and social benefits. This study considers 20 well-known China-based elderly care enterprises as the research object. It uses a fuzzy set to explore system logic, operation mode, management performance, and attitude of elderly care enterprises toward investment through the qualitative comparative analysis method. The causal relationship between them is clarified-because, before the endowment enterprise equity financing intention of China, it is important to explore the effective path of equity financing of endowment enterprises. In the past, this helped Chinese elderly care enterprises actively cope with the trend of population aging, meet the needs of diversified and multi-level elderly care services, establish a sustainable development mode, and achieve high-quality transformation and development. The results show that (1) the operating performance of elderly care enterprises under the mode of public construction and private operation is poor; (2) elderly care enterprises driven by public welfare logic are more likely to achieve higher business performance, and (3) elderly care enterprises driven by business logic are more willing to introduce investment when they have made profits.
中国的老年人口预计将在 2021 年至 2025 年“十四五”期间超过 3 亿，并进入中度老龄化阶段。从养老企业可持续发展的角度来看，如果企业长期亏损，养老服务的供应将不可持续。在后者对高利润的追求下，消费者的负担将会增加。考虑到经济和社会效益，这些企业的股权融资是实现高质量转型和发展的关键。本研究以 20 家知名的中国养老企业为研究对象，采用模糊集定性比较分析法，探讨了系统逻辑、运营模式、管理绩效以及养老企业对投资的态度。通过这种方法，可以明确它们之间的因果关系——因为在探讨中国养老企业股权融资意向之前，有必要探索养老企业股权融资的有效路径。过去，这有助于中国养老企业积极应对人口老龄化趋势，满足多元化、多层次的养老服务需求，建立可持续发展模式，实现高质量转型和发展。研究结果表明：（1）公建民营模式下的养老企业运营绩效较差；（2）以公益逻辑为驱动的养老企业更有可能实现更高的经营业绩；（3）以商业逻辑为驱动的养老企业在盈利后更愿意引入投资。
