Taking breakthroughs in key core technologies to drive the construction of a modern industrial system is an inevitable choice for building a great modern socialist country. Based on network embeddedness theory and coupling theory，this study took China Aerospace Science and Technology Corporation （CASC） and its historically evolved institutions as research objects，and explored the specific process and internal mechanism of how enterprises' breakthroughs in core key technologies drive the construction of a modern industrial system. The findings are as follows:（1） Breakthroughs in key core technologies promote the construction of a modern industrial system by triggering internal and external network embedding，implementing resource actions，and adjusting network coupling relationships，which are phasedly manifested as system integration breakthroughs，system architecture transformation，and system integration and innovation. （2） With the upgrading of key core technology breakthroughs，enterprises sequentially adopt the action strategies of "construction-adaptation-resonance" for internal and external networks. Under the network embedding actions of "connected-intermediary-architectural" types，it implements resource aggregation，leveraging，and symbiosis actions in stages，thereby promoting the transformation of the internal and external network coupling relationship from the "dominant-response" type and the "exploration-adaptation" type to the "origination-resonance" type. （3） The modern industrial system presents an evolutionary law of "foundation-iteration-ecology"，in which future industries，emerging industries，and traditional industries undergo stepped transformation，while the three core characteristics of integrity，security，and advancement are interdependent and achieve coordinated upgrading. This study reveals the theoretical black box of constructing a modern industrial system driven by key core technologies，and will provide certain theoretical basis for accelerating the construction of a modern industrial system.
As the driving force in enhancing industrial and supply chains resilience，the high-quality development of specialized，refined，distinctive and innovative enterprises is crucial for the national economic transformation. This study adopted a mixed-method approach integrating qualitative meta-analysis and dynamic QCA to systematically explore their high-quality development pathways，overcoming the limitations of single-method approaches. We proposed a three-dimensional "Resources-Strategy-Context" framework，identifying these dimensions as key determinants of high-quality development，though no single dimension constitutes a necessary condition. Configuration analysis revealed the following:（1） There are four high-quality development pathways—opportunity-driven，first-mover advantage，steady progression，and policy-enabled types，as well as two non-high-quality development pathways，resource-constrained and strategy-mismatched types； （2） Low R&D investment serves as core condition for high-quality development pathways，whereas high R&D investment correlates with non-high-quality development； （3） Social capital demonstrates a double-edged sword effect. It facilitates growth under policy environment but exacerbates underperformance in weak policy environment and innovation climate.
Promoting the development of "specialized，refined，distinctive，and innovative" （SRDI） small and medium-sized enterprises is a classic policy-instrument-driven development paradigm. The key to SRDI policy optimization lies in considering the dynamic alignment among policy instrument，policy theme，and policy effectiveness. Drawing from public policy evaluation theory，this study employed text mining and quantitative text analysis to conduct a comparative analysis and assessment of 466 SRDI-related policy texts from the Yangtze River Delta and Pearl River Delta regions spanning 2006 to 2024. The results indicated that the selection and configuration of policy instruments face issues including preferential biases，overuse，omission，and disproportionate allocation； the policy themes and anchoring of development positioning suffer from lag effects and insufficient synergy； and there is a pathway for further optimization in policy effectiveness. In response，the continuous adjustment and optimization of the policy system supporting the development of SRDI enterprises should focus on three key aspects:optimizing the structure of policy instruments，innovatively rethinking policy themes and design，and effectively addressing policy gaps. By leveraging these three aspects，the reform and innovation of policies for SRDI enterprises can be advanced through a systematic approach. This study aims to provide an optimization pathway for enhancing the appropriateness and scientific rigor of the SRDI policy design，and to offer methodological references for public policy research as well.
Under the strategic background of constructing a new development paradigm and breaking through "bottleneck" technologies，the "specialized，refined，distinctive and innovative" （SRDI） policy，as a crucial measure to cultivate technology-based small giant enterprises，urgently requires scientific evaluation of its policy effects. Using a sample of Chinese listed companies from 1998 to 2022，this study systematically examined the impact of the SRDI policy on firms' total factor productivity （TFP） and its mechanisms through a multi-period difference-in-differences approach. The findings revealed that the SRDI policy significantly enhances enterprise TFP，with results remaining robust after addressing endogeneity concerns. Extended analyses demonstrated that the policy exerts dual effects on productivity growth—simultaneously operating through intensive margin （efficiency improvements） and extensive margin （scale expansion） channels. Heterogeneity analysis indicated concentrated policy effects within the industrial sector，validating its targeted support for key domains outlined in the Made in China 2025 strategy. Mechanism tests identified two transmission pathways:（1） crowding-in private R&D investment，and （2） extending supply chain linkages. This research empirically verifies the SRDI policy's positive role in fostering the growth of niche technology leaders，and will provide theoretical underpinnings and empirical evidence for optimizing industrial policy design and strengthening supply chain resilience.
The industrial Internet policies play a pivotal role in facilitating the digital transformation of China's manufacturing industry，cultivating new quality productive forces，propelling the new industrialization process，and fostering innovation-driven development. This study proposed an analysis framework and a six-step analysis process，based on Latent Dirichlet Allocation （LDA） topic modeling and Coupling Coordination Degree Model （CCDM），to examine policy diffusion and policy coordination using 348 related policies from 2015 to 2023. Fuzzy-set Qualitative Comparative Analysis （fsQCA） was employed to examine the configurations of high central-local policy coordination degree under diverse diffusion patterns. This paper found that:（1） A total of 43 policy topics were identified at the central，provincial，and municipal levels，forming a multi-pronged and integrated policy system with eight policy topic domains centered around the innovation-driven initiative and comprising network infrastructure，platform system，security guarantee，industrial application，ecosystem support，government participation，and regional development. （2） The fluctuation trends，temporal dimensions，and hierarchical features of policy topic domains composed the "time and space" characterization of policy topic domains which supported the policy diffusion pattern identification，yielding four policy diffusion patterns of China's industrial Internet policy:high-intensity resonance，peak leading，central-local complementarity，and local practice. （3） The subsystems of the policy level were basically coordinated，where the innovation-driven initiative topic domain had the highest degree of central-local coordination. The general degree of policy coordination between the industrial development goal subsystem and policy measure subsystem based on topic domains was also fundamentally coordinated which was especially higher at the municipal level. （4） High policy power and minimal vertical pressure differentials constituted the core conditions for the majority of configurations demonstrating superior central-local coordination，while economic endowments and horizontal spillover effects exhibited context-dependent complementary relationships. This study contributes to the methodological and theoretical enrichment of studying policy diffusion and coordination within the policy system. It effectively analyzes the dynamic process and collaborative mechanisms of establishing the policy system composed of texts in multi-level governments. It is characterized by objectivity，efficiency，explanatory power，and strong applicability. This study also clarifies the key areas and significant directions of China's industrial Internet policy and its evolutionary context，and will provide an overall scan for improving the industrial Internet policy system and promoting digital industry innovation and high-quality industrial development.
Digital technology is the core driving force of the digital economy. Advancing digital industry clusters （DIC） and accelerating breakthroughs in digital technology innovation （Diginno） are important ways to enhance independent innovation in science and technology and achieve self-reliance in technological strength under the conditions of digital economy. Based on county-level panel data from 2003 to 2021，this paper uses business registration data to measure the development level of DIC and constructed a fixed-effects model to empirically analyze its impact mechanisms and effects on Diginno. The results showed that DIC significantly promotes Diginno，and this conclusion remains robust after a series of robustness tests. DIC mainly promote Diginno through labor pooling，technology spillovers，and sharing of digital intermediate inputs. Heterogeneity analysis indicates that the promotional effect of DIC on Diginno is more significant under conditions of high market potential，favorable business environment，high attention to digital technology，and low competition within counties. Further analysis also revealed that the current DIC in China have a significant positive impact on the TFP of enterprises and the internal resource allocation within industries. However，future attention should focus on the weak empowering effect of digital manufacturing clusters on Diginno as well as the problems of poor quality of county development，unbalanced development and environmental pollution that may result from DIC. This study enriches research on the innovation effects of industrial agglomeration in the digital era. Its core findings will provide important policy implications for further advancing DIC，accelerating scientific and technological innovation，and achieving high-quality development.
As accelerating the opening-up and sharing of public data has become a core task of China's digital government development，it is of great significance to evaluate the micro-level value and mechanism of action of open government data. Based on data from Chinese A-share listed companies from 2009 to 2022，this paper employs the launch of prefectural-level government data platforms as a quasi-natural experiment to examine the impact of open government data on enterprise digital transformation. The study finds that open government data significantly promotes enterprise digital transformation，primarily empowering enterprises through three mechanisms:information transmission，risk response，and condition creation. The positive impact of open government data is more pronounced among enterprises in regions with low levels of digital economy development，those receiving fewer government subsidies，in the manufacturing sector，of smaller size，and with higher initial digitalization levels. Further research indicates that open government data has synergistic effects with policies such as "Broadband China"，"Information Benefiting the People"，and the national big data comprehensive pilot zones. It has a more significant effect on enhancing "underlying technology embedding" than on promoting high-level transformation activities such as "digital technology application"，and can improve enterprises' total factor productivity by facilitating digital transformation. This paper deepens the understanding of how data element policies，represented by open government data，influence China's digital economy development，and provides robust policy guidance for governments and enterprises to leverage open government data，unlock the value of data elements，seize new opportunities in digital economic development，and expand new frontiers for economic growth.
Entrepreneurial stress refers to the pressure that entrepreneurs experience and subjectively perceive during the entrepreneurial process. Its influence on entrepreneurial decisions and behaviors has garnered increasing scholarly and practical interest. However，despite growing research attention，the literature lacks a comprehensive theoretical framework and in-depth analysis. To address this gap，this study conducts a systematic literature review following the PRISMA procedure，encompassing 265 relevant studies published between 1983 and 2024. The results show that:First，research on entrepreneurial stress demonstrates a structurally unbalanced distribution across publication years，journal，methodology，and author affiliations； Second，while the construct remains conceptually fluid，it is commonly characterized by subjectivity，persistence，and complexity. It overlaps with，yet differs from，related constructs such as occupational stress and innovation stress，and its measurement tools have been catalogued； Third，the integrative framework identifies its antecedents （e.g.，entrepreneurial，work and environmental characteristics），consequences （e.g.，for the individual and organization） and boundary conditions （e.g.，internal motivation and external support）. Finally，based on the identified limitations in the existing literature，this study proposes six prospects for future research，thereby outlining potential pathways for theoretical advancement and offering practical implications.
In the digital economy era，the digital reconstruction capability of pharmaceutical supply chains has become a critical foundation for internet-based healthcare enterprises to establish competitive advantages. The mechanism through which digital technology coupling facilitates the acquisition of new institutional legitimacy and drives the formation of dynamic capabilities warrants in-depth investigation. This study adopted a dual-case research approach，focusing on JD Health and AliHealth，to systematically explore the role of digital technology coupling in the digital reconstruction of pharmaceutical supply chains. The research revealed three key insights:（1） The coupling application of digital technologies in pharmaceutical supply chains cultivates enterprises' ambidextrous capabilities—agile responsiveness and collaborative co-creation—thereby forming a dynamic capability system for digital reconstruction； （2） The logic of vertically integrated and openly distributed digital technology coupling shapes differentiated pathways for dynamic capability development； （3） The digital reconstruction of pharmaceutical supply chains demonstrates a co-evolutionary mechanism between institutional pressure response and new institutional construction in emerging fields. Internet-based healthcare enterprises construct regulatory，normative，and cognitive legitimacy through interactions with multiple institutional actors，with digital technologies significantly accelerating the legitimacy acquisition process. This study extends the theoretical boundaries of dynamic capability theory and institutional entrepreneurship in digital contexts，and will provide a conceptual framework and managerial insights for the digital transformation of pharmaceutical supply chains.
Pursuing intelligentization，greenization and integration is a critical pathway for achieving high-quality transformation of industrial enterprises during the 15th Five-Year Plan period. Based on the samples of China's A-share listed industrial enterprises from 2010 to 2022，this study empirically examines the impact and mechanism of digital-green technology integration on enterprises' dual synergy transformation of digitalization and greenization. The findings reveal that digital-green technology integration strengthens the interaction between digitalization and greenization，significantly promoting enterprises' dual synergy transformation. Specifically，digital-green policy synergy and cross-organizational innovation synergy positively moderate this relationship. Heterogeneity analysis further shows that the transformation effect of digital-green technology integration is more pronounced among latecomer enterprises，including heavy pollution enterprises，medium- and low-technology enterprises and non-green factory enterprises，whose total factor productivity also improves more significantly after the transformation. Furthermore，data trading platform construction overall promotes digital-green technology integration，though this effect is more prominent in high-tech enterprises and has yet to effectively empower heavy pollution enterprises. This study contributes new empirical evidence on the intrinsic mechanisms of enterprises' dual synergy transformation through a technology integration lens，with policy implications for high-quality transformation of industrial enterprises during the 15th Five-Year Plan period.
Entrepreneurship serves as a critical lever for developing new quality productive forces，yet existing research has largely overlooked the complex dimensions of Chinese entrepreneurship and the symbiotic relationships among these dimensions. Using a mixed-method approach that integrates dynamic QCA with regression analysis，this study conducted a configurational investigation of Chinese A-share listed firms from 2010 to 2022 to explore the multiple pathways through which entrepreneurship drives breakthrough innovation and to examine its direct and indirect effects on firms' total factor productivity （TFP）. The results revealed that international vanguard entrepreneurship，responsibility-balanced entrepreneurship，and performance-oriented entrepreneurship constitute distinct configurations that lead to high levels of breakthrough innovation. However，the consistency among these configurations has declined after 2020，and their internal consistency and coverage vary across ownership types，firm size，degrees of marketization，and levels of media attention. Moreover，breakthrough innovation plays a complex mediating role between these three entrepreneurial configurations and firms' TFP，indicating that all three forms of entrepreneurship enhance TFP by enabling firms to achieve breakthrough innovation. By integrating multiple dimensions of Chinese entrepreneurship，this study uncovers the diverse pathways that underpin firms' breakthrough innovation and further clarifies how different entrepreneurship configurations exert both direct and indirect influences on total factor productivity，offering valuable insights for fostering entrepreneurship to advance innovation-driven new quality productive forces.
Radical green innovation is the necessary path to truly achieve carbon neutrality and sustainable development for the country and firms. Existing studies have confirmed the impact of leadership on green innovation，but generally overlooked the role of green transformational leadership in stimulating high-quality radical green innovation. According to resource orchestration theory，this study analyzes the relationships among green transformational leadership，green research and development investment （GRDI），ambidextrous green learning and radical green innovation，and explores the chain mediating effect of GRDI and ambidextrous green learning. The data on 332 Chinese manufacturing firms is analyzed by using a mixed method. The regression analysis results indicate that green transformational leadership not only directly promote radical green innovation，but also indirectly affect it through GRDI and ambidextrous green learning，which play a chain mediation role in the above relationship. The results of fuzzy-set qualitative comparative analysis （fsQCA） identify that three configurations lead to high radical green innovation. The findings reveal the mechanism of the role of green transformational leadership in radical green innovation from the resource orchestration perspective，and provides theoretical guidance and empirical evidence for manufacturing firms to achieve radical green innovation.
As an important part of the national unified market，the data factor market （DFM） plays a key role in unleashing the potential of data factors and stimulating innovation vitality of enterprises. Based on the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2022，this paper uses a staggered difference-in-differences （DID） model to study the impact and mechanism of DFM on enterprise innovation. Our results show that DFM can significantly promote enterprise innovation. Mechanism analysis indicates that DFM fosters enterprise innovation by reducing R&D uncertainty，promoting digital transformation，and improving management efficiency. Moreover，heterogeneous analysis shows that DFM exerts a more pronounced innovation-stimulating effect on highly competitive industries and digital economy sectors. In addition，DFM has a significant promotion effect on both digital and non-digital technology innovation of enterprises，but the promotion effect on digital technology innovation is more pronounced. Our analysis provides a useful reference for the government to improve the market-oriented allocation of data factors and foster enterprise innovation.
Trust is a critical factor in enhancing the collaborative efficiency of cross-boundary innovation alliances and driving the process of cross-boundary innovation. Under the background of the integration of the digital and the real economy，the application of blockchain technology has triggered profound and intricate transformations in the multi-source evidence underpinning trust relationships within cross-boundary innovation alliances. This study，grounded in the integration of trust source theory and innovation network theory while incorporating the influence of blockchain technology，constructed an assessment model for trust relationships in cross-boundary innovation alliances based on evidence theory. An empirical analysis was conducted using the C-ITS cross-boundary innovation alliance as a case study. The research findings were as follows:（1） The hybrid evidence fusion rule significantly enhances the reliability of trust fusion results in cross-boundary innovation alliances and effectively mitigate uncertainty. （2） The impact of cross-boundary institutional trust，co-boundary feature trust，and cross-boundary process trust on the overall trust level in cross-boundary innovation alliances diminishes sequentially，with the former demonstrating a synergistic effect when combined with the latter two factors. （3） Under varying levels of trust，the focus on enhancing trust capital shifts accordingly. When trust capital is limited，emphasis should be placed on the interaction between cross-boundary institutional trust and co-boundary feature trust. Once the trust capital stock surpasses the alliance's benchmark threshold，greater attention should be directed toward the coupling enhancement effect between cross-boundary institutional trust and cross-boundary process trust. This research offers valuable insights for cross-boundary innovation alliances to leverage blockchain technology fully for expanding trust capital and holds significant theoretical and practical implications for accelerating cross-boundary innovation and fostering new qualitative productive forces.
With the continuous promotion of "dual carbon" driven by technological innovation，leading enterprises find themselves in a dilemma. They must not only comply with the requirements of green legitimacy but also uphold crucial differentiators in breakthrough key technologies. To address this issue，based on the optimal distinctiveness theory，we analyzed the case of Broad and constructed an optimal differentiation process model for leading enterprises to continuously make breakthroughs in key green technologies. Our findings revealed that:First，in their pursuit of breakthrough key green technologies，leading firms exhibit a progressive consolidation of legitimacy，moving from initial creation to augmentation and，finally，expansion. Concurrently，their differentiation evolves from a technology-based focus to an institutionally-defined strategy，encompassing technological definition，category creation，and ultimately，institutional design. Second，this staged evolution of legitimacy and differentiation results in a corresponding shift in the optimal differentiation mechanism. This mechanism transitions from threshold orchestration to integrative orchestration，and ultimately，to compensatory orchestration. Third，this refined differentiation mechanism facilitates a transition in technological breakthroughs，progressing from multi-dimensional advancements to enhanced value creation—a shift from upstream to downstream value—culminating in fundamental technological innovation that alters the very foundation of the system. This paper not only expands the theoretical boundaries of the breakthrough process of key green technologies from the perspective of optimal distinctiveness，but also enriches the optimal distinctiveness theory from the context of technological breakthroughs.
Industry-University-Research Collaboration （IURC） is an important means to enhance the effectiveness of the national innovation system. Exploring the role of scientific and technological human capital （S&T HC） in the function of IURC is one of the key measures in implementing the requirements of "education，S&T，and talent" integrated development. Building on existing research，this study proposed a threshold effect hypothesis regarding the role of S&T HC in IURC and regional patent scale （RPS），and employed an econometric model to conduct empirical analysis. Using panel data of 30 provincial-level regions in China from 2010 to 2019，the findings were as follows:（1） IURC does not necessarily increase RPS，and S&T HC plays a threshold effect in this process. （2）The innovative effects of IURC have an upper limit on the size of S&T HC，and only when the S&T HC is relatively small does it show a positive impact on RPS. （3） There is heterogeneity in the effect of S&T HC on patent size and substitutability between it and S&T financial capital. The article reveals the threshold effect of S&T HC faced by IURC. The policy implications include implementing IURC policies according to local conditions for local governments，and actively guiding the balanced distribution of S&T HC for the central government，in order to better leverage the efficiency of the innovation system.
Existing research has shown that patent pledging can effectively alleviate financing constraints for small and medium-sized enterprises （SMEs），but the mechanism for obtaining higher loan amounts has not yet been systematically explained. Based on a dual-process framework of signalling theory，this study used patent pledge data from SMEs listed on the NEEQ between 2016 and 2022 as a sample，and empirically tested the relationship between patent originality and pledged financing amounts. The results showed that patent originality has a significant inverted U-shaped effect on pledged financing amounts，meaning that a moderate increase in patent originality can enhance loan amounts by strengthening the observability of signals. However，excessively high originality suppresses the financing effect due to high decoding costs. This non-linear effect is strengthened by two moderators:1） close bank-firm interactions，which lower decoding costs through communication and trust，and 2） board members' external social networks，which improve the bank's value assessment via professional endorsement. Both factors steepen the curve，allowing firms to capture a higher financing premium at optimal originality levels. This study expanded the research on the antecedents of patent pledging and will provide insights for SME patent portfolio management and government policy formulation:moderately increasing patent originality and strengthening communication with financial institutions can help achieve higher pledged financing amounts by balancing innovation value and evaluation costs，thus providing a theoretical basis for overcoming the challenge of "difficulties in realising innovation premiums".
As an important policy tool to promote green innovation of enterprises，no research has explored the synergistic effect between intellectual property demonstration cities and low-carbon city pilots. Based on the quasi-natural experiment constructed on the basis of intellectual property demonstration city and low-carbon city pilot policies，this paper examined the impact of the "dual-pilot" policies on enterprises' green innovation with the help of the panel data of A-share-listed enterprises and the progressive double-difference model from 2007 to 2022. The study found that:（1） the synergy of "dual-pilot" policies can significantly enhance the green innovation capability of enterprises，and is better than the implementation effect of individual pilot policies. In addition，the order of policy implementation also affects the synergy between policies，and the pilot strategy of implementing low-carbon cities first and then intellectual property demonstration cities can maximize the synergistic benefits between policies. （2） The "dual-pilot" policy mainly promotes green innovation through enhancing executive awareness，optimizing R&D resource allocation and improving the legal environment. （3） The synergistic effects of the "dual-pilot" policy are more pronounced in enterprises with high media attention，no environmental background，in highly competitive industries and in economically developed regions. This study has provided new theoretical support and empirical evidence for the green technological innovation effect of the combination of policy tools，and will provide some insights into the government's coordinated efforts to empower enterprises in their green innovation.
The innovation of high-tech enterprises plays a pivotal role in driving technological progress and industrial upgrading，positioning them as key contributors to building an innovative nation. Negative media coverage，as a significant channel for exerting institutional pressure on firms，often influences the innovation decisions of high-tech enterprises. This study examines the impact of negative media reports on the innovation activities of high-tech enterprises through the lenses of legitimacy and social identity. Using panel data from 1，501 high-tech enterprises listed on China's mainboard market between 2011 and 2020，a fixed-effects model and triple moderation effect analysis reveal three main findings:（1） Negative media coverage motivates high-tech enterprises to increase their innovation investment； （2） Such coverage leads firms to prioritize innovation quantity over quality，thereby fostering growth in the number of innovations without significantly improving innovation quality； （3） Further analysis indicates that the above effects are more pronounced in firms with limited slack resources. Specifically，higher levels of slack resources weaken the positive impact of negative media reports on innovation input and diminish their role in facilitating the transformation of innovation input into innovation quantity. While prior studies primarily emphasized resource constraints and suggested negative media coverage inhibits innovation，this study adopts a legitimacy and social identity perspective，offering novel insights and empirical evidence on the relationship between negative media reports and corporate innovation. The findings provide valuable guidance for high-tech enterprises in crafting effective innovation strategies under the influence of adverse public opinion.
