The effective response to the paradoxical and unified contradictions in enterprise digital innovation is not only the premise for comprehensive realization of digital innovation but also an important issue for the development of new quality productive forces driven by digital innovation. However，the academic community currently lacks a systematic review of this knowledge framework. This paper adopted a bibliometric and systematic review method，by screening 108 relevant papers from high-level domestic and international journals to organize the enterprise digital innovation paradox. It constructed a research framework of "concept classification-causes-performance-response mechanisms". The main conclusions are as follows： first，the concept of enterprise digital innovation paradox is defined，forming a three-dimensional classification system of digital technology innovation paradox，digital market innovation paradox，and digital organizational innovation paradox；second，the causes and manifestations of enterprise digital innovation paradox are summarized in the technical，market，and organizational levels；and third，19 mechanisms for coping with digital innovation paradoxes are summarized from seven theoretical perspectives： dynamic capabilities，modularity，optimal differentiation，institutional logic，data ethics，paradoxical leadership，and organizational ambidexterity. Finally，the paper has further proposed potential paradoxical issues that may arise in the future，aiming to provide a detailed theoretical basis and analytical tools for subsequent research.

With the deep integration of digitalization into urban development，it is crucial to systematically investigate the intricate relationship and underlying mechanisms between big data strategies and the advancement of new quality productive forces in cities to fully unleash their potential. Leveraging the quasi-natural experiment of national big data comprehensive pilot zone，this study employed the panel data from 277 prefecture-level cities spanning from 2009 to 2021 and adopted the difference-in-differences （DID） model to rigorously examine the impact of big data strategies on urban new quality productive forces and their underlying mechanisms. The findings revealed that the big data strategies significantly enhance new quality productive forces，with pronounced regional heterogeneity and temporal variation in policy effects. Specifically，the policy exhibits stronger promotional effects in eastern China compared to the central and western regions，and its impact is more substantial in early-policy-adopting cities than in late-policy-adopting cities. Through mediation analysis，we identified knowledge spillovers as the dominant mediating channel by which big data strategies contribute to the advancement of new quality productive forces. Further spatial econometric analysis confirmed a distinct spatial spillover effect. These conclusions will provide actionable insights for cultivating and developing new quality productive forces，while offering empirical support for advancing China's big data strategy to achieve the goals of "Digital China" and "Data Powerhouse".

Government data opening is a necessary measure for the supply of data factors，and using government data opening to enhance urban entrepreneurial activeness is an important path and embodiment of releasing data dividends. In this paper，government data opening was used as a quasi-natural experiment，and the progressive double-difference method was used to test the impact of data factors supply on urban entrepreneurial activeness. It was found that the supply of data factors represented by government data opening can significantly improve the entrepreneurial activeness in cities. The mechanism analysis showed that government data opening enhances urban entrepreneurial activeness by promoting technological innovation，strengthening talent gathering and improving government administrative efficiency. The heterogeneity analysis showed that the promotion effect of government data opening on urban entrepreneurial activeness is more obvious in cities with higher financial development level，digital economy development level and economic development level，as well as producer services. Further analyses showed that there is a positive correlation between the open quality of government data and the entrepreneurial activeness in cities，and the open government data improves the entrepreneurial quality in cities. This paper will enrich the research on the economic effect of data factor supply and clarify the logical mechanism of government data opening to enhance urban entrepreneurial activeness，and provide theoretical basis and decision-making reference for enhancing the positive effect of government data opening on urban entrepreneurship.

Promoting the deep integration of advanced manufacturing and modern service industries （"integration of two industries"） is a crucial pathway to enhance the core competitiveness of the manufacturing sector，accelerate the formation of new quality productive forces，and achieve Chinese-style modernization. Data openness provides a new opportunity for this endeavor. Based on the data from Chinese cities spanning 2006 to 2020，this paper constructed a quasi-natural experiment using the launch of local government public data platforms，and employed the multi-period difference-in-differences models and mediation effect models to empirically test the impact and mechanisms of data openness on the "integration of two industries". The study found that： （1） Data openness significantly promotes the "integration of two industries"；（2） The heterogeneity analysis indicated that the promoting effect of data openness on the "integration of two industries" is more pronounced in cities located southeast of the Hu Huanyong Line，cities with lower administrative levels，and cities with favorable business environments；and （3） The mechanism analysis revealed that data openness helps reduce transaction costs，enhance intellectual property protection，and accelerate the digital transformation of both manufacturing and service industries，thereby empowering the "integration of two industries". This study will provide theoretical and empirical support for how data openness can empower the "integration of two industries" and offer policy recommendations for promoting the integration of the two industries，creating new manufacturing，new services，and new business models，and advancing Chinese-style modernization.

In the era of digital intelligence，building the ecological dominance of leading-chain enterprises is the key driver in the security and high-quality development of a chain industry. Drawing on the resource concerto theory，this paper conducted a longitudinal case study of Sany Group to explore the evolutionary mechanisms involving digital intelligence empowerment，resource orchestration，and ecological dominance of leading-chain enterprises. The findings revealed that digital intelligence exerts a three-dimensional empowering effect on enhancing the ecological dominance of leading-chain enterprises，manifested through organizational breakdown，cross-border integration，and dynamic adjustment. The leading-chain enterprises cultivate their ecological dominance by adopting a heterogeneous approach in different stages. By framing resource concerto as a proactive capability for resource management，leading-chain enterprises achieve a positive feedback loop in the industrial chain ecology through a combination of "whole machine entry and high flexibility"，"strategic cooperation and vertical integration"，and "perfect ecology and three-dimensional co-evolution". Furthermore，the leading-chain enterprises have undergone an evolutionary process evolving from point-based initiatives to network-centric integration to establishment of ecological dominance. Specifically，the leading-chain enterprises form a driving force of technological innovation，product market guidance，and resource integration in the industrial chain ecosystem through three modes，namely，point breakthrough，chain collaboration，and ecological integration. This research has revealed the resource concerto mechanism of the leading-chain enterprises during the process of the evolution of the ecological dominance empowered by digital intelligence，and it will provide theoretical guidance and practical implications for the digital transformation of industrial chains，dynamic resource management，and cultivation of the ecological dominance of leading-chain enterprises.

New digital empowerment ventures and their digital innovation activities are crucial for the integration of digital and physical realms and the development of new quality productive forces. However，due to the disadvantages of start-ups and the complexity of the digital innovation process，the outcomes of digital innovation in new digital empowerment ventures are often highly uncertain. Lean startup，as a crucial strategic approach to managing uncertainty，plays a significant role in optimizing the structure of new digital-enabled ventures and improving digital innovation performance. Based on the "strategy-structure-performance" paradigm，this study constructed a relational model between lean startup，modular architecture （including modular product architecture and modular organizational architecture），and digital innovation performance of new digital empowerment ventures. By conducting the hierarchical regression and bootstrap analysis of the data collected from 267 new digital empowerment ventures，the study found the following results： （1） Lean startup has a strong positive effect on the digital innovation performance of new digital empowerment ventures；（2） Modular product architecture and modular organizational architecture respectively play a mediating role in the relationship between lean startup and digital innovation performance of new digital empowerment ventures；and （3） Modular product architecture and modular organizational architecture act as a chain mediator between lean startup and digital innovation performance of new digital empowerment ventures. This study has clarified the mechanism by which lean startup influences the digital innovation performance of new digital empowerment ventures，thereby extending the research on lean startup and digital innovation. Additionally，it will provide theoretical basis and decision-making reference for the integration of digital economy and physical economy in China.

Spin-off，as an organizational change process in which parent company derive startups，is a long-term and holistic development strategy for incumbents. In today's dynamic and complex environment，whether incumbents can achieve innovation ambidexterity through spin-off is the key to ensuring their survival and sustainable development. Based on the "opportunity-motivation-ability" theoretical framework，this paper applied the QCA method to unveil the paths for incumbents to achieve innovation ambidexterity in the spin-off process. It was found that the six factors influencing the achievement of innovation ambidexterity of incumbents are the conjoint effects among six antecedents including policy and market opportunities，motivations of diversification strategy and organizational change，and abilities of resource acquisition and networking. Among these conditions，the strength of incumbents' abilities is the core condition for achieving innovation ambidexterity. When this condition is combined with other related conditions，there emerges the three paths for incumbents to achieve the one goal： innovation ambidexterity. One is the path with multiple equilibrium，in which incumbents actively lay out and fully utilize their abilities in the face of abundant external market opportunities. The second is the ability-driven path，in which incumbents rely on their strong ability endowments when the external opportunities are scarce. And the third is the opportunity-seizing path，in which incumbents seize opportunities by focusing on their main business and utilizing their own abilities when both policy and market opportunities are abundant. However，when the incumbents have weak abilities，even if they have strong motivations for diversification strategy and organizational change，or even if they are in a situation with abundant opportunities，they fail to achieve innovation ambidexterity mainly because of limited abilities. By clarifying the antecedents and their combined effects that affect incumbents to achieve innovation ambidexterity，this paper will provide useful reference and path guidance for undertaking corporate spin-off development.

Under the guidance of consolidating and improving the integrated national strategic system and capabilities，the dilemma of how to build organizational identity has become the focus of academic attention. This study selected a certain heavy truck enterprise as the research object，and deconstructed its organizational identity change process based on the meaning construction theory and cognitive schema theory. The results showed that： （1） Organizational identity follows the meaning construction process of "goal setting-perceived problem-identity response" and meaning construction has two functions： scanning environmental resources inside and outside the organization and guiding the transformation from imagination to cognition；（2） Organizational identity follows the meaning construction process of "goal setting-perceived problem-identity response"；（3） Identity cognitive schema is the logical starting point of organizational identity change. With the evolution of the richness and relevance of identity cognitive schema，it provides enterprises with a new organizational identity more clearly and specifically. （4） The identity change of integrated organization shows a path transition from "single-point integrated organization identity" to "full-chain integrated organization identity" and then to "multi-dimensional integrated organization identity". The above conclusions will provide a basis for the construction of the mechanism model of enterprise organizational identity change in the process of integration，enrich the theoretical explanation of meaning construction theory and organizational identity change theory to military-civilian integration，and help to understand and deepen the internal law of building an integrated national strategic system and capacity development.

In the era of digital economy，digital transformation has become an inevitable trajectory of enterprise development. From a supply chain perspective，the costumer digital transformation can exert substantial influences on supplier through supply chain channels. However，does the digital transformation of costumer affect the digital technological innovation of supplier? To address this question，this paper established an econometric model by matching the data among listed company on China' Shanghai and Shenzhen A-share market from 2011 to 2022. It empirically examined the spillover effects of costumer' digital transformation on supplier' digital technological innovation and its underlying mechanisms. The results indicated： （1） The digital transformation of costumer exerts a positive spillover effect on the digital technological innovation of supplier，a series of robustness tests and endogeneity discussions confirm the reliability of this conclusion；（2） The impact of customer companies' digital transformation on supplier companies' digital technological innovation is stronger when： the supplier and customer companies operate in the same industry，or the supplier companies' industry exhibits a high level of digital transformation；（3） the customer companies' digital transformation promotes supplier companies' digital technology innovation through two channels： information spillovers and supply-demand alignment. The intensity of cooperation and industry competition strength positively moderate these relationships. This study revealed the underlying mechanism of customer companies' digital transformation influencing supplier companies' digital technology innovation from a supply chain perspective，enriching the economic consequences of corporate digital transformation and providing theoretical support and decision-making references for advancing corporate digital technology innovation practices；（2） this effect is more pronounced when supplier and customer operate within the same industry or when supplier is located in highly digitized sectors；and （3） the customer digital transformation enhances supplier innovation through information spillovers and improved supply-demand alignment，with cooperative intensity and industry competition positively moderating these mechanisms. Overall，this study has elucidated the mechanisms through which customer digital transformation influences supplier digital technological innovation from a supply chain perspective. It has extended the literature on the economic consequences of enterprise digital transformation and will provide theoretical insights and policy implications for fostering digital technological innovation.

Promoting the deep integration of S&T innovation and industrial innovation through an enterprise-led innovation consortium is the key to make breakthroughs in key core technologies and accelerate the development of new quality productive forces. Based on the evolutionary game theory，this paper used the Matlab software to simulate and analyze the strategy selection of innovation subjects under changes in different parameters，revealing the dynamic evolution law according to which the S&T leading enterprises lead innovation consortium to make continuous breakthroughs in key core technologies. The research found that： （1） The government's willingness of participation is a critical factor influencing the cooperation among the innovation consortium members，with a particularly significant impact on S&T leading enterprises；Enhancing the participation willingness of S&T leading enterprises can influence the enthusiasm of member units to some extent，while conversely，increasing the participation willingness of member units has a minimal effect on the strategic choices of the government and S&T leading enterprises；（2） Compared with the incentive mechanism，a reasonable punishment mechanism can more effectively promote the continued participation and enthusiasm of each member of the innovation consortium in key core technology research；（3） The income from the transformation of S&T achievements significantly impacts the enthusiasm of the innovation consortium members to continue participating in key core technology research，with a particularly pronounced effect on S&T leading enterprises；（4） When all the subjects of the innovation consortium adopt a positive strategy，the willingness of S&T leading enterprises to participate increases with the increase of the success probability of the key core technology breakthroughs. However，if only one party is actively innovating，the other party are unlikely to choose active innovation，and the government will not choose a strategy that is highly involved in support. Finally，this paper proposed the following countermeasures and suggestions： strengthening a well-functioning government，improving an efficient market，cultivating powerful subjects，and building a tolerant society within an integrated four-in-one collaborative system. These measures will empower the innovation consortium led by S&T leading enterprises，stimulate the innovation vitality of multiple subjects，achieve continuous breakthroughs in key core technologies，and cultivate new quality productive forces and new kinetic energy.

With the intensification of global competition in S&T，there are a lot of breakpoints，blocking points and pain points in China's industrial chain，and the problem of low domestic substitution rate of key links is becoming increasingly prominent. It has become a topic of common concern in both academia and practice how to promote the SRDI enterprises with "unique skills" in the segmentation field to embed quickly into the industrial chain and realize their high-quality growth while empowering the industrial chain. Based on the theories of resource orchestration and enterprise growth，and from the perspective of two-way empowerment of the industry chain，this paper made a dual case study of two SRDI enterprises，and used the grounded theory and Nvivo software to encode the case data，aiming at exploring the internal mechanism of spiral high-quality growth of the SRDI enterprises. The research showed that the process of high-quality growth of SRDI enterprises includes three stages： precise positioning，high coupling and related expansion. In each stage，the complementing chain mechanism and strengthening chain mechanism co-evolve from the perspective of industrial chain empowerment，forming a spiral high-quality growth path that rises both horizontally and vertically，and they are interlocking link by link and progressing step by step. In order to achieve high-quality growth in terms of both "quality" and "quantity"，enterprises need to deploy all dimensions of resource orchestration at each stage. Generally speaking，the importance of resource structuring is very high at all stages，and the importance of turning resources into capability and resource leveraging is gradually improved with the evolution of stages. This paper has not only deepened theoretically the research on the high-quality growth of enterprises in the context of China，but also considered the relationship between complementing chain mechanism and strengthening chain mechanism，and expanded the applicable context and boundary of industrial chain empowerment in the new situation. The research conclusion will have certain reference value for the SRDI enterprises to play a key role in the industrial chain.

The black-box problem of artificial intelligence （AI） is troubling users to accept AI for knowledge creation. The explainable AI is one of the important solutions to solve the problem. However，existing literature has rarely explored how the explainability of AI affects users' acceptance of AI for knowledge creation. Therefore，this study focused on exploring the question，including the path mechanism of explainability affecting users' acceptance of AI for knowledge creation，and the moderating effect of user characteristics on the path. This paper proposed some theoretical hypotheses and conducted the structural equation modeling and hierarchical regression analysis on 425 questionnaire data to test the hypotheses. The results showed that the three dimensions of explainability，i.e.，completeness，format，and currency，have an influence on users' acceptance of AI for knowledge creation；the influence of explainability on users' acceptance of AI for knowledge creation is indirect，with perceived usefulness and perceived ease of use playing a mediating role. The results also showed that the influence of explainability on users' acceptance of AI for knowledge creation is moderated by user characteristics such as education level，usage experience，and position. This study will not only contribute to the theories of AI knowledge creation and AI explainability theory by providing a user acceptance model based on the explainability，but also provide insights for enterprises to correctly play the role of AI explainability and promote AI knowledge creation.

The entry of technology enterprises serves as the innovation engine for achieving high-quality economic development. Utilizing a dataset that matches the registration information of industrial and commercial enterprises with 283 prefecture-level cities from 2004 to 2018，this paper adopted the establishment of the Yangtze River Delta Urban Economic Coordination Committee as a quasi-natural experiment，and used the machine learning method to identify the impact of unified market construction on the entry of technology enterprises. The results showed that the construction of a unified market significantly stimulates the increase in the number of technology enterprises and the enhancement of their scale，and the above promotion effect is particularly pronounced in samples characterized by smaller city size，higher financial constraints and weaker government innovation support. The mechanism analysis revealed that the construction of a unified market facilitates the entry of technology enterprises through the effects of talent agglomeration，technology agglomeration，and venture capital agglomeration. Further research uncovered that，in comparison with core cities，the construction of a unified market has a stronger effect on the number and scale of technology enterprises entering peripheral cities，thereby contributing to regional balanced development. The above findings have not only provided a novel perspective for understanding the economic effects of unified national market construction，but also provided insights for the in-depth promotion of unified national market construction and the formulation of policies aimed at regional balanced development.

The study of the impact of environmental regulations on green patent output has become a hot topic in academic research. The dual externalities in this impact process need to be addressed through the joint efforts of environmental regulations and intellectual property protection. Integrating environmental regulations，green patents，and intellectual property protection into a unified analytical framework is significant for exploring the effective solutions to environmental problems. This paper used the data from 11 provincial-level regions in the Yangtze River Economic Belt from 2010 to 2021 to examine the impact of environmental regulations on green patent output，and further analysed the moderating effect of intellectual property protection. The research found that： （1） there is a U-shaped relationship between environmental regulations and the quantity of green patent output；（2） Environmental regulations exhibit complex nonlinear characteristics on the quality of green patent output，and after crossing the inflection point of the U-shaped relationship，they can effectively improve the quality of green patent output；and （3） Intellectual property protection plays a significant positive regulatory role in the environmental regulation process affecting the quantity and quality of green patent output. This study has filled the gap in theoretical research on the impact of environmental regulations on green patent output，and will provide practical insights for balancing environmental protection and economic development in the Yangtze River Economic Belt.

Environmental supervision is an important part of government environmental governance and a key driving factor of green innovation. Based on the panel data of A-share listed companies in 120 major cities in China from 2008 to 2018，this paper examined the relationship between environmental supervision and corporate green innovation from the perspective of promotion pressure by using the fixed effect and moderating effect models. The study found that： （1） Environmental supervision only significantly promotes the quantity of corporate green innovation，rather than the quality，which induces the "bubble" phenomenon of green innovation；（2） The promotion pressure positively regulates the relationship between environmental supervision and the quantity of green innovation and enhances the "bubble" effect of environmental supervision；（3） The "bubble" phenomenon of green innovation caused by environmental supervision is concentrated in heavily polluting industries and eastern regions. It has a significant role in promoting the quality and quantity of green innovation in highly urbanized regions. However，the regulatory effect of promotion pressure is not effective；（4） Environmental supervision affects green innovation through industrial transfer，and causes neighboring areas to become "pollution havens". The central vertical supervision weakens the "bubble" phenomenon of green innovation. This paper has deepened the research scope and boundary conditions of macro-policy and micro-corporate innovation，which brings a new perspective and theoretical framework for existing research. It will also provide beneficial enlightenment and empirical evidence for optimizing environmental supervision policies and promoting corporate green transformation.

As the capital market is gradually opening up，foreign institutional investors will impose higher requirements for the ESG performance of firms based on the international ESG standards and shareholding preferences. However，it is still not clear whether it can be a beneficial complementary mechanism for non-rigid ESG institutional environment in China. Therefore，this paper selected Chinese A-share listed firms of Shanghai and Shenzhen Stock Exchange from 2009 to 2022 as the sample and examined the influence mechanism of foreign institutional investors' shareholding on the ESG performance of firms with the panel OLS regression with fixed-effects. The paper comprised four conclusions. Firstly，foreign institutional investors' shareholding improves the ESG performance of firms. This conclusion remains robust after the endogeneity and robustness tests. Secondly，foreign institutional investors' shareholding improves the ESG performance through reducing managerial myopia，alleviating financing constraints，and enhancing risk-taking. Thirdly，analyst following，media supervision，and government constraint further enhance the positive effect of foreign institutional investors' shareholding on the ESG performance of firms. Finally，foreign institutional investors' shareholding further promotes exploratory innovation through improving the ESG performance of firms. Considering China's non-rigid ESG institutional environment，the departments concerned should improve the mechanism of China capital market opening and fully play the collaborative promotion effect of external stakeholders including analysts，media，and government，in order to increase the positive governance effect of foreign institutional investors' shareholding on the ESG performance of firms.

This study aims to promote the diffusion of green technological innovation，and mitigate the dual pressures of energy shortages and environmental degradation on socio-economic development. We categorized the diffusion of green technological innovation into two stages： diffusion among cluster enterprises and diffusion of green innovation products among market consumers，based on the interactive relationship between innovation subjects and demand subjects. Given the heterogeneity of the diffusion network，a three-stage game model for diffusion of green technological innovation under heterogeneous supply-demand network environments was constructed，consisting of game players，evolutionary rules，and network structures. A representative case study was chosen for numerical simulation analysis. The research showed that government incentives for dissemination of green technological innovation among cluster enterprises and adoption of green products by consumers are notably affected by the cluster's organizational structure and the number of green innovative enterprises，respectively. Furthermore，the impact of these incentives diminishes as their scale increases，reflecting the principle of diminishing marginal returns. Compared to peripheral enterprises，core enterprises are more heavily influenced by the cluster's green innovation organizational structure when deciding to adopt green technology，and they demonstrate greater sensitivity to government subsidies and the maturity of green technology. Market demand for green products follows the principle of price competition，meaning that lowering prices can stimulate their adoption. Furthermore，technological maturity and environmental benefits of green products are key factors influencing their adoption. The stability of the green technology dissemination process is affected by the network structure of the dissemination group. Lowering research and development costs or product prices can effectively enhance this stability. The research findings have identified stable conditions favorable to the diffusion of green technological innovation and defined optimal government subsidy boundaries under specific conditions，and they will provide theoretical and practical guidance for enhancing diffusion efficiency.

Enhancing the global influence of Chinese enterprises in technology standards is crucial for achieving high-level S&T self-reliance. This study applied the network orchestration theory to explore how CRRC Zhuzhou Locomotive Co.，Ltd. has contributed to integrating standards along the Belt and Road Initiative. The study found that： （1） The evolution of the technology standards innovation ecosystem in the joint development of the Belt and Road Initiative shows clear stage-based characteristics. During the iterative process of "incubation-expansion-stable development，" the dependency on network relationships and the level of technological complementarity gradually increase. The ecosystem follows a trajectory that evolves from localized pilot projects to global coordination. （2） The network orchestration practices of core enterprises play a critical role in the implementation of governance mechanisms within the ecosystem. These practices consist of three key components： legal coupling exploration，innovation leverage management，and network ecosystem expansion. The study identified a shift in governance from a single-firm-dominant to co-governance. （3） The governance logic of the jointly developed Belt and Road technology standard innovation ecosystem shows a transition from legitimization logic to integration logic. This study has developed a theoretical framework that extends application of the network orchestration theory in a multi-national context. It has also explored how Chinese enterprises navigate technological breakthroughs and standard-setting under the pressures of Sino-US technological decoupling.

Open-source projects，particularly those in the domain of artificial intelligence，have become vital carriers for firms to achieve digital technological breakthroughs. Yet，how to choose an appropriate license that can ensure the sustainable development of open-source projects remains an unsettled question. Based on a sample of 2，536，526 open-source projects from GitHub，this study constructed a theoretical model of the differential impacts of open-source license on the sustainability of open-source projects in the context of technological complexity and empirically tested it by using the negative binomial regression method. The results showed that： （1） the adoption of open-source license has a significant positive effect on the sustainable development of open-source projects，manifested as increases in user interest and development activeness；（2） compared to restrictive license，permissive license can promote the sustainable development of open-source projects to a larger extent；（3） the license with patent grant clause has a stronger promoting effect on the sustainable development of projects than that without such a clause；and （4） technological complexity positively moderates the relationship between open-source license and the sustainability of open-source projects. This study has revealed the boundary conditions under which open-source license affects the sustainable development of open-source projects，thus helping firms improve governance mechanisms of open-source projects oriented towards complex digital technologies and offering insights for building a sustainable and prosperous open-source ecosystem.

The patent pledge financing policy is an important path to help enterprises to alleviate difficulties，which is of far-reaching significance for enterprises to optimize their asset structure and achieve high-quality development. However，there is a lack of research on the impact of patent pledge financing policies on the dynamic adjustment of corporate capital structure. This paper used a multi-period DID method to test the impact of patent pledge pilot policy on the dynamic adjustment of corporate capital structure based on the sample of China's A-share listed companies from 2001 to 2022. This paper found that the pilot policy of patent pledge can reduce the deviation of corporate capital structure. The mechanism analysis showed that the role of patent pledge pilot policy in reducing capital structure deviation is mainly achieved by alleviating financing constraints. The heterogeneity analysis showed that the reduction effect of patent pledge pilot policy on the deviation of corporate capital structure is more obvious in enterprises with non-state-owned nature，smaller scale and higher level of industry competition. From the perspective of adjustment speed，the patent pledge pilot policy can improve the speed of corporate capital structure adjustment；and after distinguishing the adjustment direction，it was found that the patent pledge pilot policy can not only improve the upward adjustment speed of corporate capital structure，but also improve the downward adjustment speed of corporate capital structure. From the perspective of adjustment methods，the patent pledge pilot policy mainly improves the speed of corporate capital structure adjustment through debt financing. This study will not only enrich the related research on the influencing factors of dynamic adjustment of enterprise capital structure and the economic effect of patent pledge policy，but also provide decision-making reference for further execution of the pilot work of patent pledge and optimization of the financing structure of enterprises.