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This paper explores the influence mechanism of the marketization process and financial technology on corporate investment preference using panel data from 2013 to 2019 for China's A-share listed companies. The study finds that both the marketization process and FinTech can facilitate increased R&D innovation and foreign equity investment by companies but discourage investment in their fixed assets, and FinTech has a "U-shaped effect" on corporate R&D and innovation. At the same time, the marketization process and FinTech show different threshold effects on corporate investment preferences with government subsidies as the threshold variable. It is found that market-based processes in small-scale enterprises are better able to promote investment in innovative R&D by companies—the marketization process for large enterprises has a greater impact on outward equity investment in the heterogeneity analysis. From the perspective of the nature of property rights, it is found that the marketization process and FinTech have a greater impact on non-state enterprises. As a result, in an era of rapid FinTech development, this paper enriches the relevant research on the impact of the marketization process on corporate investment preferences, which has important practical significance for policy formulation and corporate future development. [ABSTRACT FROM AUTHOR]

Based on the data of China's listed companies from 2007 to 2020 and the financial license of the China Banking and Insurance Regulatory Commission, this paper analyzes the influence of bank competition on enterprise innovation investment and its mechanism. It is found that bank competition can improve the enterprise innovation investment, which still holds true after endogenous treatment and robustness test. Further research demonstrates that bank competition plays a stronger role in enterprise innovation for non-state-owned enterprises and small-scale enterprises. The mechanism analysis shows that bank competition can promote enterprise innovation investment and enterprise financialization by easing financing constraints. Moreover, enterprise financialization has a crowding-out effect on enterprise innovation investment. Therefore, moderately intensifying bank competition, further improving the financial system, and deepening the financial marketization reform have profound effects on driving enterprise innovation and its high-quality development. [ABSTRACT FROM AUTHOR]

Since the introduction of a low-carbon economy, corporate performance is no longer limited to the evaluation of internal economic benefits but has become the performance of corporate sustainable development, adding environmental and social factors. Now, the whole world is paying attention to low consumption and low emission. As the main economic pillar of society, the enterprise undertakes the biggest low-carbon task. In order to develop the economy in the longer term and meet the needs of society, enterprises must combine green innovation to evaluate the performance of sustainable development. However, because the previous model's analysis of performance will produce distortion effects, the data error is also relatively large. Therefore, in order to solve these problems and make performance analysis more realistic, this paper deeply discusses the issue of green innovation and enterprise sustainable development performance. Using the method of the SBM-DEA model, it analyzes the performance comparison of enterprises without and with the expected output and conducts a comparison experiment. The result shows that in 2017, the efficiency of company A without unexpected output was 0.6943. The efficiency with undesired output is 0.6643. In 2018, the efficiency of the enterprise without undesired output is 1, and the efficiency with undesired output is 1. After applying the model, it is obvious that the efficiency of computing performance has been greatly improved. Therefore, in order to better study the sustainable development performance of enterprises, the SBM-DEA model should be focused on. [ABSTRACT FROM AUTHOR]

Innovation is the driving force behind enterprise development. Improving the quality of the internal control of enterprises and increasing the intensity of R&D investment are important ways to enhance the level of scientific and technological innovation. Based on the data of Shanghai and Shenzhen A-share listed companies from 2010 to 2019, in this paper, we empirically examine the correlation between the quality of internal control and the intensity of R&D investment by using the level of corporate cash holdings as an intermediary variable. We find that high internal control quality can improve cash-holding level and that improving cash-holding level will increase R&D investment intensity. That is, cash-holding level has a mediating effect between internal control quality and R&D investment intensity, while internal control quality can have a direct or indirect positive effect on R&D investment. Accordingly, this study has important theoretical significance and practical value for enterprises that seek to promote R&D innovation and improve their internal control. [ABSTRACT FROM AUTHOR]

Sustained and stable external financing, affected by the financial environment, is a necessary condition to support the green technological innovation of enterprises. This paper focuses on the impact of bettering the financial environment of digital finance on enterprise green technological innovation, as well as the mediating role of financing costs and financial flexibility in this process. Using China's data on manufacturing enterprises listed in Shanghai and Shenzhen from 2011 to 2018, the hypotheses are tested. The result suggests the following: (a) digital finance effectively promotes enterprises to carry out green technological innovation, specifically, the coverage and depth of digital finance can promote enterprises' green technological innovation, but the degree of digitization has no significant impact; (b) digital finance improves the financial environment by making up the shortage of traditional financial system through reducing financing problems such as "financing difficulty," "matching difficulty," and "supervision difficulty," which make effective contributions to enterprise green technological innovation; (c) financing costs negatively mediate the relationship between digital finance and enterprise green technological innovation, while financial flexibility positively mediates the relationship. Overall, our findings shed light on the role digital finance plays in shaping corporate environmental behavior—and ultimately innovation in sustainability—in financing constraint setting. [ABSTRACT FROM AUTHOR]

A data-driven intelligent analysis method is proposed in this paper to explore and identify the enterprise's technological innovation influencing factors. Questionnaire surveys or expert interviews are usually adopted by the traditional evaluation methods for indicators of technological innovation selection. However, it inevitably involves human factors and experts' subjective judgments, which may affect the result of enterprises evaluation. The research presents an improved text clustering method based on a semantic concept model to explore and analyze the key influencing factors of enterprise's technological innovation. The study collects textual data from 400 enterprises in Beijing and smart analyzes the critical influencing factors of enterprise's technological innovation by using the proposed method. The influencing factors can be divided into seven categories. In addition, compared with the traditional K-means clustering method, the proposed method has a good effect. We proposed a methodology to conduct an intelligent analysis for enterprise's technological innovation under the data-driven. It can provide more objective and auxiliary suggestions for the evaluation of the enterprise's technology innovation. [ABSTRACT FROM AUTHOR]

Acquiring and combining heterogeneous knowledge resources across organizational boundaries are an important path for the success of enterprises' innovation. From the perspective of the relation attributes between knowledge elements, this paper divides knowledge cross-border searching into two types: domain knowledge searching and architectural knowledge coupling searching. Then, we construct a system dynamics model and use Vensim PLE software to carry out simulation analysis to explore the differential mechanisms of knowledge cross-border searching influence firms' dual innovation in the context of digital transformation. The analysis results show that domain knowledge searching positively affects firms' iterative innovation, while there is an inverted U-shaped relationship between architectural knowledge searching and firms' disruptive innovation, indicating that different types of knowledge cross-border searching have differential effects on firms' dual innovation. The simulation results also address that digital resources can promote enterprises' dual innovation in the process of knowledge cross-border searching. The research results reveal that the internal laws of knowledge cross-border searching affect enterprises' dual innovation in the context of digital transformation and provide a theoretical reference for enterprises to effectively use digital technology to adopt knowledge searching activities. [ABSTRACT FROM AUTHOR]

Summary. With the support of national policies and the holding of the 2022 Beijing Winter Olympic Games, China's sports market presents an unprecedented prosperity, but it also faces many challenges. The market environment in which the sports industry is located is full of uncertainty and complexity. Creative products, competitive sports enterprises, and clear business models are urgently needed. Research purpose. To explore the future development mode and the prospect of China's sports undertakings and enterprises through the analysis and research on the competitive advantage of China's sports industry. In this context, since 2016, this study has started with the micromarket players. Research methods. Using the case study method highly praised by the international economic management academic circles, combined with in-depth learning, this study has conducted a systematic and comprehensive study on a total of 50 Chinese sports enterprises by mining and analyzing the unstructured text, video, and other data obtained from public materials and interviews. This paper deeply analyzes the competitive strategy of China's sports enterprises, creates and maintains competitive advantages in the sports industry, and studies the model construction of case studies and analysis. Conclusion. The study found that the product and business model, the leadership of managers, the innovation ability of teams, and the external market environment are the core elements for sports enterprises to formulate competitive strategies and create and maintain competitive advantages. The organic combination of the four eventually forms a competitive advantage that is difficult to replicate and finally forms a value chain through the implementation of competitive strategies so as to realize the value promotion and sustainable development of enterprises. [ABSTRACT FROM AUTHOR]

The aim of this study is to help financial enterprises establish a solid foundation in a big data ecosystem (BDE) and fully play their competitive edges in the fierce business competition. This paper innovatively conducts research studies on the reform of enterprise financial management. First, it expounds on the relevant concepts of big data technology (BDT) alongside financial management. Afterward, the impact of BDT on enterprise financial management is examined. Consequently, a financial enterprise-oriented economic management model is proposed by integrating BDT, enterprise economic management (EEM), and enterprise performance evaluation methods. Further, an experiment is designed to verify the proposed model on estimating the annual enterprise operating income (OI) and human resource (HR) structure. The research findings show that the predicted and actual OI error is within 6%. The predicted enterprise personnel deployment only deviates slightly from actual personnel deployment. Thus, the proposed economic management model can accurately predict OI and cost. It provides a reliable reference for enterprise innovation management, optimizing recruitment conditions, sales strategy, and development strategy. Lastly, the research deficiencies are pointed out alongside corresponding suggestions. [ABSTRACT FROM AUTHOR]

The global economic environment is becoming increasingly complex with the variable change in the competition regulation and the merging of technological innovation. A single equipment manufacturing enterprise cannot achieve the realization of an intelligent strategy. With the help of open innovation, the enterprise can build an intelligent manufacturing innovation ecosystem based on promoting internal re-engineering of enterprises and mutual opening of internal innovation resource processes among enterprises to strengthen cooperation. However, since open innovation is a complex collaborative innovation of multiorganizational cooperation, this paper analyzes and discusses the green open innovation cooperation strategy among oligopolistic enterprises in the equipment manufacturing industry under the influence of environmental regulation by using relevant models and theories of evolutionary game theory. In addition, the optimal combination under the existing situation is selected by using the model to simulate and analyze the selection trends and results of oligopolistic enterprises several times. The study shows that the probability of choosing an open green innovation strategy among oligopolistic equipment manufacturing firms is positively proportional to the excess benefit of open green innovation and government subsidies and inversely proportional to the excess benefit of knowledge spillover, government penalties, and the cost of open collaborative innovation and knowledge spillover between two firms. [ABSTRACT FROM AUTHOR]

With the advent of the white-hot competition environment at home and abroad, enterprises must continuously improve their management level to reduce operating costs, so as to achieve the purpose of improving operating efficiency, highlighting competitive advantages, and improving core competitiveness. The purpose of this research is to realize the sharing and collaboration mechanism of government resources, enterprise resources, and other resources in the digital ecological environment, so as to realize the transformation of enterprise productivity and production mode to a higher-end mode, and enhance the innovation ability of enterprises. On the basis of cloud computing theory and service computing theory, this research has carried out service model innovation, analysis, and design and realizes a service-oriented open collaborative sharing, multiorganization, multitenant, and dynamically scalable intelligent enterprise collaborative innovation cloud service platform. By selecting 20 valid scoring data, 80% of the scores are distributed in 3-5 points, indicating that the collaborative innovation cloud service platform for smart enterprises proposed in this paper realizes collaborative sharing among multiple organizations and multiple tenants. It highlights the matchmaking between enterprises and high-quality innovation resources, alleviates the uneven distribution of innovation resources, bridges the gap between various innovation entities, and provides a scalable and sustainable evolution of collaborative innovation cloud service environment. [ABSTRACT FROM AUTHOR]

The realization of breakthrough innovation with high risk and uncertainty has always been the focus of the theory and practice of technological innovation. Based on the supernetwork theory, this paper constructs a supernetwork equilibrium model about deep convergence of enterprise alliance for breakthrough innovation and uses numerical simulation tools to find out the equilibrium conditions for deep convergence of enterprise alliance in different stages of breakthrough innovation. It is not only conducive to understand the process of enterprise alliance's deep convergence in "Creativity-Research-Production-Sales" but also helpful to understand the roles that deep convergence in enterprise alliance can play in achieving breakthrough innovation. It not only expands the existing research on breakthrough innovation but also provides a scientific reference for the deep convergence of enterprise alliance in practice. [ABSTRACT FROM AUTHOR]

Under the influence of the COVID-19, great changes have taken place in China's economic structure and market subjects and college students are facing difficulties in employment. By carrying out collaborative innovation between schools and enterprises, cultivating high-quality talents to meet social needs has become an important way to solve difficulties. Based on the input-process-output principle, a performance evaluation index system for collaborative innovation is constructed, which includes 3 primary indicators and 22 secondary indicators. The weights of each indicator are determined using improved AHP. A mathematical model for evaluating the performance of school enterprise collaborative innovation is established using the fuzzy comprehensive evaluation method. The evaluation value of the innovation and entrepreneurship education case project is 0.82, indicating that the overall operation is in good condition. The cooperation between schools and enterprises has created a favorable atmosphere and accumulated rich experience for carrying out innovation and entrepreneurship education. Good results have been achieved in talent cultivation and scientific and technological output, but there are also problems such as low conversion rates of scientific and technological achievements. Based on the evaluation results, the article proposes suggestions to improve the performance of collaborative innovation between schools and enterprises. The research results provide theoretical reference for the performance evaluation of school enterprise collaborative innovation and the practice of innovation and entrepreneurship education. [ABSTRACT FROM AUTHOR]

This paper conducted an evolutionary game model of the interaction between the governments and communication enterprises and analyzed the impact of the government's communication security regulation on the innovation decision-making of communication enterprises. The results show that the behavior of the governments depends on the social benefits, rent-seeking benefits, and regulating costs in strict and de security regulations. The communication enterprises' behavior depends on the benefits of innovation and the costs in R&D and rent-seeking. When government subsidies are relatively inadequate, the communication enterprises' strategy under government security regulation swings from not-innovation finally to innovation. The policy implications of this study indicate that appropriate de security regulation by the government will help communication enterprises generate a good atmosphere for innovation, and the appropriate increase in subsidies will be more conducive to driving enterprise innovation. [ABSTRACT FROM AUTHOR]

A data envelopment analysis cross-efficiency model was used to measure the innovation efficiency of Chinese intelligent-manufacturing (IM) enterprises. This paper took as samples the number of granted patents and R&D investments of IM enterprises listed from 2015 to 2020. This research used the modified gravity model to determine the innovation efficiency and the spatial correlation of IM enterprises in China and used UCINET software to reveal the innovation efficiency and spatial network characteristics of IM enterprises through a social network analysis. The study found that the relationship was significant and frequently close between innovation efficiency and the spatial correlation network of IM enterprises. The distribution of the spatial association network was "core-edge," and IM enterprises in Eastern China were at the network core and mostly played an intermediary role. The spatial correlation network had four modules. The distribution of the enterprise innovation correlation was uneven within each module, amalgamation was poor among the subgroups, and characteristics of highly cohesive subgroups were present. [ABSTRACT FROM AUTHOR]

The establishment of a civil-military integration supply chain system is the cornerstone of China's strategic development in military-civilian integration. It is essential to explore cooperative innovation and development between upstream civilian enterprises and downstream military enterprises within the supply chain to optimise resource allocation and promote the sustainable use of civil-military resources. This exploration is a prerequisite for accelerating the formation of the civil-military integration supply chain system and holds significant importance for realising the internal synergy between the civilian industry and the military industry. However, utilizing the evolutionary game model as a foundation, this study delves into the impact of absorption capacity, transformation and integration capability, network synergy, and change and innovation capacity on the vertical cooperation and innovation behaviour within the supply chain of civil-military integration enterprises. Firstly, civilian enterprises are more cost-sensitive concerning collaborative innovation investments compared to military enterprises. Excessive costs can discourage collaboration between civilian and military entities. Secondly, strong exploratory and absorptive capabilities, along with network synergies, can enhance the benefits of cooperation and innovation among these enterprises, but they also introduce the risk of opportunistic "free-rider" behaviour. Thirdly, the dynamics of the technology and product chains are influenced by an excess supply for civilian enterprises, while the opposite is true for military enterprises. Finally, a strong capacity for transformation and integration fosters cooperative and innovative behaviours among enterprises, with civilian enterprises exhibiting greater responsiveness. This study brings new research perspectives to the forefront, exploring vertical cooperation and innovative development within supply chain enterprises, particularly through the lens of supply and demand dynamics. Additionally, it offers practical recommendations aimed at helping the government expedite the establishment of integrated military-civilian supply chains and foster the synergistic development of the two key sectors: the military and civilian economies. [ABSTRACT FROM AUTHOR]

This study explores the relationship between perceived government pressure for environmental regulation and corporate eco-innovation. Based on the questionnaire data of Chinese private firms in 2016, this study explores the role of government pressure perceived by private firms in corporate environmental innovation, and the moderating effects of foreign ownership and entrepreneurs' political status. The results show that there is a positive relationship between perceived government environmental regulatory pressure and corporate eco-innovation, and this relationship can be strengthened by foreign ownership and entrepreneurs' political status. These findings provide a new strategic motivation for firms to undertake eco-innovation, i.e., the environmental regulatory pressure released by the government can urge firms to undertake strategies as an external "booster." [ABSTRACT FROM AUTHOR]

Green innovation is widely regarded as a beneficial strategy for manufacturing enterprises to accelerate green transformation. Drawing the natural resource-based view with dynamic capabilities, this study proposes a model linking green innovation, green dynamic capability, and firm performance. Using survey data from 236 heavy polluting manufacturing firms in China, this study investigates the impact of green innovation on firm performance. The results show that green innovation is positively correlated with both enterprise performance and green dynamic capability, whereas green dynamic capability also has a significant impact on enterprise performance. Furthermore, the survey found that the green resource integration ability, organizational learning capability, and environmental insight capability of green dynamic capability play a moderating effect on the relationship between green innovation and enterprise performance. Additionally, we provide useful enlightenment for policymakers and business managers to stimulate green innovation in enterprises. Our research not only assists managers to better grasp the effects of green innovation practices but also provides some important implications for policymakers. [ABSTRACT FROM AUTHOR]

Knowledge innovation ability is the source of value realization of high-tech enterprises, and the acquisition of high-value knowledge is important. Taking knowledge as the intermediary variable, knowledge field activity and knowledge fermentation as mediating variables, and knowledge mobilization and knowledge network position transition as moderating variables, the conceptual model and theoretical analysis framework of the impact mechanism of knowledge innovation network fragmentation fault on technology practices is constructed and the moderated mediating effect model is derived. Taking high-tech enterprises as empirical samples, 538 valid questionnaires were obtained online and offline and the nonpercentile bootstrap method based on deviation correction was used to empirically investigate the influence mechanism and transmission path of knowledge innovation network fragmentation fault on high-tech enterprises' technological practices. The empirical results show that the main effect of knowledge innovation network fragmentation fault on high-tech enterprise technology practices is significant. Knowledge field activity and knowledge fermentation play a differential mediating role in knowledge innovation network split fault and Technology Convention. Knowledge field activity and knowledge fermentation play a partial mediating role in knowledge innovation network split fault and Technology Convention. Knowledge mobilization partially moderates the split fault of knowledge innovation network and technological practices. Knowledge mobilization positively moderates the positive effect of split fault of knowledge innovation network on technological practices and significantly positively moderates the mediating effect of knowledge field activity and knowledge fermentation, resulting in the moderated mediating effect. Knowledge network location transition plays a part of moderating role in knowledge innovation network split fault and Technology Convention. Knowledge network location transition positively moderates the positive impact of knowledge innovation network split fault on Technology Convention and significantly positively moderates the mediating role of knowledge field activity and knowledge fermentation, resulting in a moderated mediating effect. Knowledge innovation network split fault, knowledge field activity and knowledge fermentation, knowledge mobilization and knowledge network location transition, and the combination of technological practices can be the antecedents of promoting technological practices in high-tech enterprises. Through the research on the mechanism of knowledge innovation network split fault in the technological practices of high-tech enterprises, the connotation of knowledge innovation network split fault is enriched, the influencing factors of technological practices are clarified, and the value-added knowledge is promoted and has guiding and reference significance for the innovation knowledge acquisition and competitiveness improvement of high-tech enterprises. [ABSTRACT FROM AUTHOR]

In this study, we use a tripartite evolutionary game model to analyze the financial support for science-tech enterprises' innovation with government participation. Based on the game model, the study uses replication dynamics to analyze the stability of evolutionary trajectory in the eight scenarios of enterprises, the government, and the financial institutes. Then, we discuss the effect of the reputation multiplier, the efficiency of firms' innovation output, and the positive socio-economic externalities multiplier by simulation as the important innovative points in this study. The study draws the following conclusions: (1) enterprises will choose high R&D intensity instead of low R&D intensity if the output of former exceeds that of the latter, (2) enterprises' R&D output is closely related to the strategy choices of the government and financial institutes, and (3) enterprises can attract government subsidy by boosting economic and social externalities. The government subsidies to enterprises with high R&D intensity will improve the innovation output by the innovation investment and reputation multiplier. So, the government can implement subsidy policy to boost high-intensive R&D activity. Financial institutes' strategy choice between equity investment and debt investment is influenced by investment yield difference and can influence enterprises' R&D intensity choices. [ABSTRACT FROM AUTHOR]

In the study, data of Chinese listed companies in city Hangzhou, Ningbo and Wenzhou from 2012 to 2019 are used for detailed analysis. According to the data analysis, we have got several results: (1) the tax incentive policy has a significant promoting effect on the innovation activities of enterprises. (2) For such microlevel data, we also can get more detailed conclusion by enterprise heterogeneity. Heterogeneous factors do affect the effect of tax incentives on enterprise innovation input. Based on these findings, we can provide well-directed suggestions for future actions of enterprises and policy makers. [ABSTRACT FROM AUTHOR]

Bank competition promotes enterprises to obtain credit funds through market mechanisms, and a combination of industry and finance (CIF) has an important influence on establishing bank-enterprise relationship. Based on data of 2,245 manufacturing enterprises and branches of commercial banks in China from 2007 to 2019, this research establishes a moderated mediation model to verify whether CIF has a moderating effect on bank competition on enterprise innovation. The results are as follows. First, bank competition can both directly and indirectly promote enterprise innovation by alleviating financing constraints. Second, CIF has no moderating effect on the direct effect of bank competition on enterprise innovation but has a negative moderating effect on the first half of mediating effect. [ABSTRACT FROM AUTHOR]

As an important part of energy saving and carbon reduction, the low-carbon development of the transportation industry is imperative. It is the responsibility of smart transportation enterprises to closely combine their own digital technology with the governments' policies to achieve green innovation. In this study, we conducted an evolutionary game model of the interaction between the governments and smart transportation enterprises, which depended on innovation subsidies and punitive taxes. Besides, we derived the evolutionarily stable strategy of the governments and enterprises and used a simulation to analyze the impact of various policy tools on green innovation strategy. The results showed that the behavior of the governments relies on the benefits of supervision and the costs of supporting green technology innovation. The enterprises' behavior depends on the benefits of green innovation and the loss of no green innovation. Moreover, different policy tools provided by the governments can accelerate the implementation of enterprises' green innovation. [ABSTRACT FROM AUTHOR]

To better conform to the development trend of economic globalization, modern enterprises need to continuously innovate in technology, so as to provide enterprises with better products. The technological innovation level of economic innovation subjects is rising day by day, and the technological innovation level of enterprises has become more and more prominent. An excellent corporate culture will help technological innovation. The company uses corporate culture to shape its corporate image and spirit, thereby creating an atmosphere for technological innovation and bringing success to technological innovation. Corporate culture and technological innovation are two important elements to strengthen the company's core competitiveness, which directly affect the company's sustainable development level. Based on the previous analysis, we constructed an integrated model of corporate culture and technological innovation based on deep learning methods, analyzed the effect of corporate culture construction on corporate technological innovation capabilities, and sought measures to establish corporate culture. [ABSTRACT FROM AUTHOR]

Empirical findings from the impact of innovation investment volatility on enterprise technological innovation are mixed. Based on the punctuated equilibrium theory, this study explores the impact of innovation investment volatility on enterprise technological innovation in different life cycles and whether innovation subsidy has expected effects on enterprises' technological innovation. By using the 205 Chinese listed enterprises in strategic emerging industries from 2010 to 2019 as the research sample, the results show that the innovation investment volatility has a positive impact on technological innovation of enterprise in the growing stage, while it has no significant effect on enterprise technological innovation in the mature and declining stages. In addition, the negative moderating effect of innovation subsidy on the relationship between innovation investment volatility and technological innovation is the most significant for enterprises in the growing stage, weakly significant for enterprises in the mature stage, and insignificant for enterprises in the declining stage. [ABSTRACT FROM AUTHOR]