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Research on the influencing factors of data element utilization levels from the perspective of configuration Cao Ping, Chen Youbin 2025, 46(1): 1-11.  DOI: 10.19571/j.cnki.1000-2995.2025.01.001 Abstract ( 233 )       The data element has become an important production factor in promoting the development of the digital economy, and studying the utilization level of data elements is of great significance for advancing the growth of the digital economy. This paper, based on the Technology-Organization-Environment (TOE) theoretical framework, adopting the fuzzy-set qualitative comparative analysis method (fsQCA) and artificial neural network (ANN) approaches, introduced the interpretable machine learning model SHAP to investigate the influencing factors of data element utilization levels. Using the data from 30 provinces (autonomous regions and municipalities) in China, this study empirically analyzed the factors influencing data element utilization levels. The research found that the synergy among technological, organizational and environmental factors forms three configurational paths capable of achieving high data element utilization levels: innovation-organization-openness composite, technology-organization-environment composite, and infrastructure-institution-environment composite. Among these, technological innovation levels and data resource openness have the most significant impact on achieving high data element utilization levels, while a singular focus on data resource openness may have a negative effect on the utilization of data elements. The research conclusions have clarified the influencing factors and configurational paths of data element utilization levels at the theoretical level, enriched the relevant studies on data elements, and proposed a hybrid fsQCAANN method, thus offering a new perspective for addressing similar complex configurational problems. At the practical level, the findings will provide some theoretical support and managerial insights for optimizing data element utilization policies and enhancing data element utilization levels in China. Related Articles | Metrics

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Research on the knowledge governance of innovation ecosystem considering the technology potential difference Xu Xueguo, Zhou Shiyu, Liu Fengmei 2025, 46(1): 12-23.  DOI: 10.19571/j.cnki.1000-2995.2025.01.002 Abstract ( 110 )        Improving the level of knowledge governance can effectively solve the problem of "stranglehold" and stimulate the innovation ecosystem to evolve to a higher stage. Based on the theory of collaborative governance and the "B-L" reaction model, this study established a four-dimensional co-evolution model composed of knowledge governance mechanism, knowledge governance willingness, knowledge governance configuration and knowledge governance performance, and used fsQCA to explore the configuration path of improving knowledge governance performance in innovation ecosystem. The results showed that (1) the technological advantages of high niche players can effectively promote the evolution of knowledge governance of innovation ecosystem to a higher level; (2) considering the technology potential difference to match the configuration results, it can accelerate the formation of the knowledge governance path of the innovation ecosystem with Chinese characteristics; and (3) balancing the effectiveness of core elements of knowledge governance can effectively promote the improvement of knowledge governance performance in the innovation ecosystem. This study has revealed the internal influence of different technology potential differences on the collaborative evolution of the knowledge governance of innovation ecosystem, and explored the internal mechanism of the configuration of various factors under different scenarios to improve the performance of the knowledge governance of innovation ecosystem, and it will provide theoretical basis and practical inspiration for the government to introduce relevant governance policies. References | Related Articles | Metrics

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Selective industrial policy, corporate innovation and high-quality development of manufacturing enterprises Jiang Shan, Sun Guangguo 2025, 46(1): 24-33.  DOI: 10.19571/j.cnki.1000-2995.2025.01.003 Abstract ( 114 )       China′s economy is at a critical stage of transformation and upgrading from a high-speed development to a high-quality development model and it plays a crucial role in advancing the high-quality development of manufacturing enterprises. This paper adopted the individual champion cultivation policy implemented in batches from 2016 to 2019 as the natural experiment. Based on the perspective of corporate innovation, we used the staggered difference-in-difference (DID) model to empirically demonstrate the impact of selective industrial policy on the high-quality development of manufacturing enterprises. We found that the individual champion cultivation policy can promote the substantial innovation of enterprises. The results of the mechanism test showed that the individual champion cultivation policy improves the innovation ability of enterprises by alleviating financing constraints and optimizing human capital. The heterogeneity analysis found that among private enterprises and enterprises in the western regions, the individual champion cultivation policy showed a more significant innovation incentive effect. Ultimately, the individual champion cultivation policy fosters the high-quality development of manufacturing enterprises through substantial innovation. This paper will provide certain empirical evidence and inspiration for the government to improve the cultivation system of individual champions, fully leverage the innovation-driven effect of selective industrial policies, and thereby advance the high-quality development of manufacturing enterprises. Related Articles | Metrics

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Research on the promotion of total factor productivity driven by digital transformation of enterprises Liu Yang, Cao Gaigai 2025, 46(1): 34-43.  DOI: 10.19571/j.cnki.1000-2995.2025.01.004 Abstract ( 225 )      Grasping the opportunity of digital transformation development of Chinese enterprises and fully releasing the huge multiplier effect of digital technology and data resources in improving total factor productivity have become the only way for Chinese enterprises to achieve high-quality development under the new normal. This paper constructed indicators for enterprise digital transformation based on the semantic system of national authoritative policies, decomposed the total factor productivity of listed companies in China into "enhancement effect" and "suppression effect", and used a dynamic panel regression model to examine in detail the channel mechanism, fluctuation characteristics, and nonlinear relationship of digital transformation affecting enterprise total factor productivity.The study found that although there is a clear inverted U-shaped relationship between digital transformation and total factor productivity, the current stage is still in the "dividend release period" that can effectively promote the improvement of total factor productivity; digital transformation has a significant "stabilizing effect" on the change in total factor productivity of enterprises, breaking the high-speed growth path of total factor productivity and making its growth rate unsustainable; and digital transformation has promoted the improvement of total factor productivity of enterprises by expanding economies of scale and scope, as well as optimizing management efficiency.This paper has revealed the reasons for the gradual slowdown or even stagnation in the growth rate of total factor productivity in Chinese enterprises in recent years. By analyzing the impact path and mechanism of digital transformation on total factor productivity, it has provided certain academic value and policy implications for enterprises to improve quality and efficiency and move towards the mid-to-high end value chain. References | Related Articles | Metrics

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Research on the impact of digital identity on business model innovation Wang Bingcheng, Zai Feifei, Song Fei 2025, 46(1): 44-53.  DOI: 10.19571/j.cnki.1000-2995.2025.01.005 Abstract ( 63 )        In the era of digital economy, employees′ digital identity plays an important driving role in the digital transformation of enterprises, but there is still a lack of indepth research on how employees′ digital identity affects business model innovation. This study, based on the social identity theory, introduced two variables of extra-role behavior and platform-type leadership, constructed a moderated mediation model, and used the latent moderation structural equation (LMS) method to test the model. The research found that: (1) employees′ digital identity has a significant positive impact on business model innovation; (2) External behavior plays a mediating role between digital identity and business model innovation; and (3) Platform-type leadership not only strengthens the relationship between digital identity and extra-role behavior, but also enhances the mediating effect of digital identity on business model innovation through extra-role behavior. The research results have enriched the theoretical research on human resources and innovation management in the digital age, revealed the intermediary mechanism and boundary conditions of digital identity affecting business model innovation, and will provide theoretical references and practical suggestions for digital transformation enterprises to achieve business model innovation from a micro perspective. References | Related Articles | Metrics

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Models and mechanisms for expanding the value scenarios of manufacturing enterprises through digital twins: An exploratory study based on dual cases Zhang Zhengang, Lu Yushu, Luo Taiye 2025, 46(1): 54-62.  DOI: 10.19571/j.cnki.1000-2995.2025.01.006 Abstract ( 68 )       Digital twins build a bridge between the real and virtual worlds and are widely used in manufacturing enterprises′ production services. However, it remains underexplored how digital twins drive the creation of new value scenarios within these enterprises. This study, grounded in the embeddedness theory, employed an exploratory dual case study approach to distill the practical insights of Mino and Midea Building Technologies in the domains of intelligent manufacturing and smart buildings. The study found that: first, expanding value scenarios through digital twins relies on a fundamental logic that includes the composition of elements—assets, people and digital twins—mapped to physical space, social relations, and digital space, and their interactions. Second, two primary expansion models are identified: the process-based model and the parallel model. In the process-based model, exemplified by Mino, elements are embedded into the virtual world through production lines and processes, extending the value activities of the production line and the product lifecycle. Third, the parallel expansion, represented by Midea Building Technologies, centers on the core logic of mapping three key elements into the virtual world based on buildings, abstracting traffic flow, information flow, experience flow, energy flow, and others, thereby broadening the industrial boundaries. This study will enrich research on digital innovation, scenario creation, and embeddedness theory, and offer theoretical and practical references for the digital transformation of manufacturing enterprises. Related Articles | Metrics

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Research on the value co-creation mechanism and path of the innovation ecosystem of the digital cultural industry Jiang Yao, Chen Tinghua, Chen Xu 2025, 46(1): 63-72.  DOI: 10.19571/j.cnki.1000-2995.2025.01.007 Abstract ( 95 )      Under the background of the strategy of cultural power, China actively encourages the construction of digital cultural industry innovation ecosystem to realize the value co-creation of all parties. However, the research on value co-creation in the innovation ecosystem of the digital culture industry lacks a unified analytical framework, and it is mostly based on qualitative methods. Based on this, this paper constructed a value co-creation mechanism model using the exploratory single-case analysis method in accordance with the research logic of "driving factors - behavioral patterns - co-creation results". Then, this paper adopted the fuzzy set qualitative comparative analysis method to explore the group path of realizing value co-creation. The results showed that the value co-creation of the innovation ecosystem of the digital culture industry is driven by six factors: market economy, value demand, cultural consensus, industrial policy, IP resources and digital technology. There are six behavioral modes of content creation, including channel docking, IP ecology, intermediary cooperation, technology empowerment and government-enterprise collaboration, so as to realize value acquisition, transmission, creation, value-addition, and cyclic iteration. The three factors that drive value co-creation are digital market-driven, new demand-driven and "content + technology" dual-wheel-driven under the strategy of cultural power. The three behavioral modes of realizing value co-creation are channel-connected content ecosystem mode, intermediary-supported content ecosystem mode and technology-enabled content ecosystem mode. This paper has not only expanded the analytical framework and research methods for this issue, but also will provide policy insights for the high-quality development of China′s digital culture industry. Related Articles | Metrics

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Research on the impact of opportunity-resource integration on manufacturing SMEs′ digital transformation Ma Hongjia, Lin Yue, Si Weiting 2025, 46(1): 73-82.  DOI: 10.19571/j.cnki.1000-2995.2025.01.008 Abstract ( 49 )      The digital transformation during Industry 4.0 is resource-intensive. As the main force, manufacturing SMEs need to leverage opportunities with resources to deal with complexity, uncertainty and risks. How can opportunity-resource integration promote manufacturing SMEs′ digital transformation has important research significance. This research used the exploratory single case study to find: (1) in the process of digital transformation, the dominant logic of manufacturing SMEs changes from digital intelligent product-dominant to diversified service-dominant and then to scenarized value-dominant, which dynamically guides the evolution of enterprises′ opportunity-resource integration; (2) enterprises achieve single point optimization through integration of opportunity identification and resource bricolage, achieve multipoint integration through integration of opportunity creation and resource orchestration, achieve ecological collaboration through integration of opportunity co-creation and resource collaboration; and (3) the gradual deepening of digital transformation can enrich the enterprise resource pool and broaden the digital opportunity set, which promotes the upgrading of opportunity-resource integration. The dynamic relation of digital transformation and opportunity-resource integration presents the form of iterative cycle and spiral rise. This paper will help to fill theoretical gap of the existing research on opportunity-resource integration in the digital context, and has some reference value for the management practice of realizing synergy of resources and opportunities in the process of manufacturing SMEs′ digital transformation. Related Articles | Metrics

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Construction logic of the integrated closed-loop of industrial chain and innovation chain: A case study of Wanhua Chemical Wang Meixiang, Chen Zhi, Zhang Yaowei, Chen Hua 2025, 46(1): 83-94.  DOI: 10.19571/j.cnki.1000-2995.2025.01.009 Abstract ( 80 )       The integration of industrial and innovation chains is critical for enhancing the resilience and security of China′s industrial and supply chains. Amid the unprecedented changes unseen in a century, exploring how enterprises can efficiently construct an integrated closed-loop of "dual chains" has become imperative. This paper adopted the logical framework of "Resource Actions–Capability Formation–Loop Effects" to conduct a longitudinal case study on Wanhua Chemical, and delved into the dynamic process and intrinsic logic of constructing an integrated closed-loop between industrial and innovation chains at different developmental stages from the perspective of core enterprises in the industrial chain. The findings revealed that: (1) The integration of "dual chains" evolves progressively through characteristics of breakthrough integration at key stages, large-scale development integration, and industrial ecosystem network integration. Across different stages, the integration process sequentially undergoes demand-matching-based "initial connection", energy-collaboration-driven "co-creation", and outcome-linking "closed-loop integration"; (2) The efficient "dual chain" integration models exhibit a "double-helix" upward evolutionary trend along the industrial lifecycle; (3) The efficient allocation of resources and the coordinated upgrading of capabilities serve as the critical driving forces for constructing the integrated closed-loops at various stages. By exploring the dynamic evolutionary process of the coupling development between industrial and innovation chains from the perspective of industrial lifecycle, this study has extended the research dimensions and theoretical outcomes of industrial and innovation chain coordination. It will provide certain theoretical guidance and practical insights for enterprises to promote innovation chain development based on the industrial chain and optimize industrial chain layouts according to innovation chain demands. References | Related Articles | Metrics

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Research on the impact of AI adoption on the competitive advantages of enterprises Zhang Jianyu, Yang Xu, Lu Chaoran, Lin Xiangyu 2025, 46(1): 95-105.  DOI: 10.19571/j.cnki.1000-2995.2025.01.010 Abstract ( 153 )       Exploring the integration of artificial intelligence (AI) with the real economy is an important issue for reconstructing industrial development paradigms and fostering the emergence of intelligent economic forms. Existing research primarily examines the micro-level impacts of AI from perspectives such as production efficiency and employment structure, but lacks a comprehensive discussion on whether enterprises can leverage AI to enhance their competitive advantage. Based on this, this study used manufacturing listed companies in the Shanghai and Shenzhen A-share markets from 2007 to 2022 as the research sample to empirically test the impact of AI adoption on enterprise competitive advantages using a fixed effects model. The results showed that AI adoption contributes to enhancing enterprise competitive advantage, and the conclusion remains robust even after addressing issues such as endogeneity, substitution variables, and other robustness tests. The contextual analysis indicated that enterprises can effectively improve their competitive advantage only when AI is embedded in specific application scenarios, complemented by appropriate assets, and supported by enhanced technological capabilities. The mechanism tests revealed that AI adoption enhances competitive advantage through improvements in production efficiency and innovation efficiency. Further research suggested that the positive impact of AI on competitive advantage is more evident in latecomer enterprises and those with faster adoption speeds. The conclusion of this study has not only addressed the fundamental question of whether AI, as a general-purpose technology, contributes to improving enterprise competitive advantage but also will provide certain empirical evidence and managerial insights on how traditional enterprises can leverage AI to create unique value and enhance their competitive position. References | Related Articles | Metrics

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Research on the AI technology trap and its governance mechanism from the perspective of technological mismatch Zhang Min 2025, 46(1): 106-113.  DOI: 10.19571/j.cnki.1000-2995.2025.01.011 Abstract ( 66 )       Artificial Intelligence (AI) technology serves as a pivotal driver for technological revolutions and industrial transformations. Nevertheless, technological misalignment can ensnare companies in an AI technology trap, thereby stalling their progress. This study, grounded in AI application scenarios within lighthouse factories and utilizing multi-stage cross-sectional data, empirically examined the origins and governance logic of the AI technology trap. The AI technology trap originates from the discord between AI technology and employees′ cognition and capabilities, a consequence of the unrestrained expansion of AI technology. While AI digital orientation positively influences digital innovation, it simultaneously fosters an employee AI awareness that can suppress corporate digital innovation. Employee digital capabilities exert a negative moderating effect on the relationship between corporate digital orientation and employee AI awareness. By constructing a governance logic that synergizes technology, cognition and capabilities, it is beneficial to alleviate the cognitive resistance and capability bottlenecks among employees caused by technological misalignment. This approach has provided theoretical support and practical references for building an AI innovation ecosystem. Related Articles | Metrics

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Influence mechanism and boundary of basic research on the innovation performance of enterprises Zhang Xiaofei, Sun Yutao, Wang Qian 2025, 46(1): 114-122.  DOI: 10.19571/j.cnki.1000-2995.2025.01.012 Abstract ( 74 )      Basic research is forward-looking and strategic, which is not only a source of original innovation, but also faces high risk and uncertainty, and it has been controversial whether enterprises can improve their product innovation performance by conducting basic research. Using a sample of Chinese pharmaceutical manufacturing enterprises from 2007-2022, this paper developed a panel negative binomial model to test the relationship between pure and application-oriented basic research and product innovation performance of enterprises, as well as the moderating effects of absorptive capacity and regional intellectual property protection (IPP). The findings indicated that (1) there is a U-shaped relationship between pure basic research and firm product innovation performance, and applicationoriented basic research has a significant positive impact on firm product innovation performance. (2) The weaker the enterprises′ absorptive capacity, the flatter the shape of the U-curve between pure basic research and firm product innovation performance, and the weaker the effect of application-oriented basic research on firm product innovation performance. (3) The higher the intensity of regional IPP, the steeper the shape of the U-curve between pure basic research and firm product innovation performance, and the stronger the effect of application-oriented basic research on firm product innovation performance. The results of the study has revealed the impact and boundary conditions of different types of basic research on firm product innovation performance, which have implications for enterprises to improve their product innovation performance. References | Related Articles | Metrics

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Research on the evolutionary game between follower and leading firms in the breakthrough of "bottleneck" technologies Wu Yong, Wei Zelong, Sun Peiyu 2025, 46(1): 123-133.  DOI: 10.19571/j.cnki.1000-2995.2025.01.013 Abstract ( 74 )   Due to the competitive responses of leading firms, many firms that have successfully achieved "bottleneck" technological breakthroughs have been trapped on the way to profit from innovation. How to profit from breakthroughs of core technologies has become an urgent problem that needs to be solved for follower firms. Based on different technological breakthrough strategies of the follower firms and various response strategies of the leading firms regarding follower firms′ innovation breakthrough, this paper constructed an evolutionary game model for the competitive interaction between the follower and leading firms in core technological breakthroughs. This paper analyzed the evolutionary paths of the strategic choices of the follower and leading firms under different circumstances. The results indicated that: first, the final strategic choices of both parties are not affected by government subsidies for follower firms. Second, the initial probabilities of various strategy choices by both parties affect the stable equilibrium strategies. Third, the key factors affecting the stable equilibrium strategies are the impact of price reduction measures taken by leading firms on follower firms and the loss to leading firms, as well as the differences in R&D costs of different breakthrough strategies adopted by follower firms. The research has extended the Profit-From-Innovation theory and the competitive dynamics theory. Besides, this research will have a positive effect on guiding Chinese firms to avoid the profit trap in innovation breakthroughs. References | Related Articles | Metrics

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Research on the impact of R&D intensity on the technological Research on the impact of R&D intensity on the technological  innovation capability of SRDI enterprises Ge Jing, Zhao Liyi, Ge Baoshan 2025, 46(1): 134-144.  DOI: 10.19571/j.cnki.1000-2995.2025.01.014 Abstract ( 81 )       With the increasingly severe international situation, the West has implemented strict technological blockades on China, and the problem of key bottlenecks in technology is becoming increasingly prominent. From a national perspective, China is paying more and more attention to scientific and technological innovation, and increasing R&D expenditures year by year for original and leading scientific and technological breakthroughs. As the main force of technological innovation, enterprises play an important role in the process of tackling key core technologies in China. The solution to the "bottleneck" technical problem relies on the improvement of the technological innovation capabilities of small and medium-sized enterprises with the characteristics of specialization, refinement, differentiation and innovation (SRDI enterprises). However, most enterprises have paid special attention to manufacturing, sales, and service processes in the past. Due to insufficient R&D investment and lack of strategic attention, their technological innovation capabilities are insufficient, and they are still "controlled by others" in key core technology areas. Exploring the impact of R&D intensity on technological innovation capability in SRDI enterprises has become a common concern in both academia and practice.Based on the research objectives and following the principles of typicality and effectiveness, this study selected GK enterprises as the research object for an exploratory single case study to explore the impact mechanism of R&D intensity on the technological innovation capability of SRDI enterprises. According to the grounded theory, this study organized and coded the obtained case data, in order to obtain some important findings.The study found that: (1) The cognition of managers is formed based on external entrepreneurial contexts and internal resources and capabilities, and it is a key antecedent variable in the advancement of the technological innovation capability of SRDI enterprises; (2) As the external context changes, enterprises adjust their R&D intensity. At the same time, driven by both the cognition of enterprise managers and the R&D intensity, the centrality and density of enterprise cooperation networks have shown varying degrees of transformation, leading to the advancement of the enterprise technological innovation capability; (3) The study has proposed an evolutionary process model for the technological innovation capability of SRDI enterprises, clarified the internal relationship between managers' cognition, R&D intensity, network construction and technological innovation capability, and revealed the internal path for improving the technological innovation capability of SRDI enterprises.The innovation points of the study are as follows: firstly, this study explored from a cognitive perspective and found that national policies and market demand are key incentives for the evolution of technological innovation capabilities in SRDI enterprises, while managerial cognition is the microfoundation of technological innovation capabilities. The research conclusion will fill the gap in the current research on the driving factors of the evolution process of enterprise technological innovation capability and enrich the applicable context of upper echelons theory.  Secondly, the study has uncovered the "black box" of the process of enhancing the technological innovation capability of SRDI enterprises from the perspective of organizational behavior, emphasized the key role of R&D investment and network relationship construction, and provided important explanatory pathways for the growth and enhancement of technological capability of SRDI enterprises in China. Thirdly, this study has deeply analyzed the formation and evolution mechanism of enterprise technological innovation capability from a dynamic perspective, and analyzed the internal logic of the formation and advancement of SRDI enterprises technological innovation capability under the new system for mobilizing the resources nationwide from a process perspective. The research conclusion will not only promote the localization process of theory of technological innovation, but also expand the boundaries of dynamic capability theory.  References | Related Articles | Metrics

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Research on the impact of technology complementarity on the innovation performance of Chinese enterprises in cross-border M&A: The moderating effect of knowledge base Su Yi, Guo Wen 2025, 46(1): 145-154.  DOI: 10.19571/j.cnki.1000-2995.2025.01.015 Abstract ( 59 )       It is an important strategy for latecomers to optimize resources and catchup technologies to acquire complementary technology through cross-border M&A. This study adopted the cross-border M&A of China′s A-share listed companies as the sample and constructed the negative binomial regression analysis method to investigate the influence mechanism of cross-border M&A parties′ technology complementarity on the innovation performance of the acquirer and to analyze the moderating effect of the knowledge base of the acquirer on the relationship between the two. The results showed that there is an inverted U-shaped relationship between the technology complementarity and the innovation performance of the acquirer. An increase in the width of knowledge base exacerbates the threshold effect of the impact of technology complementarity on innovation performance, and an increase in the depth of the knowledge base reverses this inverted U-shaped relationship to a U-shaped one. In addition, through further analysis, it was found that the technology complementarity of the two sides of the cross-border M&As has an inverted U-shaped impact on the exploratory and exploitative innovation performance of the acquirer, and the breadth and depth of the knowledge base has a significant moderating effect on the above-mentioned inverted U-shaped relationship. This has broken the research limitation caused by the homogenization of firm innovation models in existing research from the perspective of ambidextrous innovation. The research conclusion will enrich the theoretical research on cross-border M&A, thus having a certain reference value for firms to better "go global". Related Articles | Metrics

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Research on the impact of enterprise integration into global innovation network on innovation of key core technologies Feng Qiliang, An Qi, Fang Wei 2025, 46(1): 155-163.  DOI: 10.19571/j.cnki.1000-2995.2025.01.016 Abstract ( 69 )      Integrating actively into the global innovation network has an important impact on enhancing China′s scientific and technological innovation capabilities. However, during the period of "reverse globalization" trend and the rise of "protectionism", there are few studies examining whether the integration of enterprises into the global innovation network can promote innovation of key core technologies. Based on the theory of open innovation, this study used some empirical evidence from China′s high-tech manufacturing industry from 2011 to 2020 and employed a fixed effects model to empirically test the impact of enterprise integration into the global innovation network on innovation of key core technologies. The study found that the integration of enterprises into the global innovation network has a significant positive impact on innovation of key core technologies, and this conclusion still holds true after considering endogeneity issues and conducting various robustness tests. The analysis of regulatory effects showed that absorptive capacity enhances the impact of enterprise integration into the global innovation network on innovation of key core technologies, while supply chain concentration weakens the impact of enterprise integration into the global innovation network on innovation of key core technologies. The heterogeneity analysis showed that compared to state-owned enterprises, non-state-owned enterprises are more conducive to innovation of key core technologies by integrating into the global innovation network; compared to enterprises in high innovation resource cities, enterprises located in low innovation resource cities have a greater impact on innovation of key core technologies by integrating into the global innovation network. This study has confirmed the positive impact of enterprises′ integration into the global innovation network on innovation of key core technologies, expanded the research on the antecedents of micro-level innovation of key core technologies at the theoretical level, and it will provide a theoretical basis for the government to guide enterprises to "go global" and promote innovation of key core technologies in practice. Related Articles | Metrics

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A comparative study of the difference between state-owned enterprises and private enterprises Li Jinglin, Yang Zhen, Chen Jin, Gan Xiaomei 2025, 46(1): 164-173.  DOI: 10.19571/j.cnki.1000-2995.2025.01.017 Abstract ( 56 )   Mixed ownership reform is an important way to promote enterprise high-quality development, but the ESG differentiation effect of mixed ownership reform in different ownership enterprises needs to be further studied. This paper, based on the data from Chinese A-share listed companies in Shanghai and Shenzhen from 2013 to 2020, used the OLS regression model and mediation effect model to examine whether and how mixed ownership reform can affect enterprise ESG performance. The research results indicated that: firstly, mixed ownership reform has a significant promoting effect on enterprise ESG performance; After distinguishing the various dimensions of enterprise ESG performance, mixed ownership reform has a significant promoting effect on enterprise environmental responsibility performance, social responsibility performance and corporate governance performance; After distinguishing the nature of enterprise property rights, mixed ownership reform has a significant promoting influence on the ESG performance of both state-owned and private enterprises. Secondly, the internal mechanism test results indicated that mixed ownership reform has mainly played a governance effect in improving the ESG performance of state-owned enterprises, while it has mainly played a resource effect in improving the ESG performance of private enterprises. Thirdly, further research found that the promotion effect of enterprise mixed ownership reform on ESG performance exhibits heterogeneity in regional marketization, industry environmental sensitivity and executive incentive intensity; ESG performance plays a partial mediating role in the green technology innovation promotion effect of enterprise mixed ownership reform. This paper has broken through the limitations of existing research that only focuses on mixed ownership reform of state-owned enterprises or private enterprises. It has not only effectively expanded the research content of mixed ownership reform and enterprise ESG performance literature, but also revealed the heterogeneity of the mechanism of mixed ownership reform on enterprise ESG performance from the perspective of property rights, thus providing some experiences and reference for systematically promoting mixed ownership reform of different types of enterprises to improve enterprise ESG performance under the guidance of high-quality development. Related Articles | Metrics

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Research on the relationship between fear of entrepreneurial failure and recognition of entrepreneurial opportunities Zhang Lei, Yang Hongtao, Shi Hangyu, Yao Nan 2025, 46(1): 174-182.  DOI: 10.19571/j.cnki.1000-2995.2025.01.018 Abstract ( 101 )      Fear of entrepreneurial failure is a critical emotional experience in entrepreneurial activities, which can either hinder entrepreneurs from recognizing opportunities or stimulate their potentials to do so. However, existing research has not systematically explored the underlying mechanism and boundary conditions of this emotional influence. Drawing on the emotional cognitive appraisal theory, this study developed and tested a curvilinear (inverted U-shaped) relationship model between fear of entrepreneurial failures and recognition of entrepreneurial opportunities, with a focus on the mediating role of entrepreneurial alertness and the moderating effect of mindfulness. Using the data collected from 200 entrepreneurs through validated questionnaires responses, the hypotheses were tested through hierarchical regression, Bootstrap analysis, and yielded the following conclusions. Firstly, fear of entrepreneurial failure exhibits an inverted U-shaped relationship with recognition of entrepreneurial opportunities, where the medium levels of fear of entrepreneurial failures facilitates recognition of entrepreneurial opportunities, while excessively low or high level of fear impedes it. Secondly, entrepreneurial alertness mediates the inverted Ushaped relationship between fear of entrepreneurial failures and recognition of entrepreneurial opportunities. Finally，mindfulness negatively moderates the inverted U-shaped relationship between fear of entrepreneurial failures and entrepreneurial alertness, with the curvilinear effect being more pronounced at low levels of mindfulness and the positive impact of fear on alertness becoming stronger at high mindfulness levels. This study has provided a systematic explanation of the nonlinear effects of fear of entrepreneurial failures on recognition of entrepreneurial opportunities, elucidated its underlying mechanisms and boundary conditions, enhanced theoretical understanding of the constructive role of entrepreneurial fear of failure, and offered some practical insights for entrepreneurs struggling with fear of entrepreneurial failures to effectively recognize opportunities in entrepreneurial activities. References | Related Articles | Metrics

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Research on the impact and transmission mechanisms of digital-skilled labor agglomeration on innovation of enterprises Hu Zunguo, Guo Yuru, Deng Lijie, Mao Jun 2025, 46(1): 183-192.  DOI: 10.19571/j.cnki.1000-2995.2025.01.019 Abstract ( 97 )      The spatial agglomeration of digital-skilled talent is becoming increasingly evident, forming a substantial digital "labor pool" that provides critical support for enterprise innovation. This study utilized the extensive online recruitment data to construct indicators of digital-skilled talent agglomeration and applied the causal forest method to address traditional econometric endogeneity issues. It investigated the impact of digital-skilled talent agglomeration on enterprise innovation levels and structures, as well as its transmission mechanisms. The findings revealed that the spatial agglomeration of digital-skilled talent significantly enhances the overall level of green innovation among local enterprises but does not lead to substantial changes in innovation structures. In cities with digital development levels above the median, digital-skilled talent agglomeration has a more pronounced effect on promoting non-green innovation activities while "crowding out" some high-risk, low-return green innovation projects. This agglomeration drives enterprise digital transformation, amplifies scale effects, and consequently promotes the overall development of green innovation. These results have suggested that governments should be cautious of the potential "crowding-out" effect of advanced digital technology development on green innovation projects, thus providing important theoretical insights for achieving the goals of "carbon peaking and carbon neutrality". Related Articles | Metrics