Cash flow is a core element for enterprises to maintain operations and development.Cash flow forecasting models,through systematic analysis of an enterprise’s historical cash flow data,trends in operating activities,...Cash flow is a core element for enterprises to maintain operations and development.Cash flow forecasting models,through systematic analysis of an enterprise’s historical cash flow data,trends in operating activities,and external environmental factors,scientifically predict the scale,direction,and fluctuation of cash flow within a certain period in the future.This article focuses on the application of cash flow forecasting models in enterprise investment and financing decisions,sorts out the types and core functions of the models,analyzes their specific roles in investment project screening,financing plan formulation,risk prevention and control,and fund allocation,points out the existing problems in current applications,and proposes optimization paths.Research shows that the scientific application of cash flow forecasting models can enhance the accuracy and rationality of enterprises’investment and financing decisions,and help enterprises achieve sustainable development.展开更多
As a key sector in advancing China’s“carbon neutrality”goal,the machinery manufacturing industry has achieved remarkable development in recent years.Against this backdrop,the scientific and objective evaluation of ...As a key sector in advancing China’s“carbon neutrality”goal,the machinery manufacturing industry has achieved remarkable development in recent years.Against this backdrop,the scientific and objective evaluation of the financial performance of machinery manufacturing enterprises has become a pressing issue in financial research.This topic is not only crucial for optimizing enterprise management and improving operational efficiency but also essential for enhancing overall industry performance and promoting sustainable development.This paper first introduces the concept of financial performance,followed by an analysis of related financial performance evaluation theories.It then focuses on the application of the entropy method in evaluating the financial performance of machinery manufacturing enterprises,detailing its analytical steps.Finally,a financial performance evaluation index system is constructed based on four dimensions:profitability,solvency,operational efficiency,and growth potential.展开更多
In the era of green logistics,digital transformation has become an effective means for the logistics industry’s high-quality development.Using listed companies in China’s logistics industry from 2010 to 2021 as the ...In the era of green logistics,digital transformation has become an effective means for the logistics industry’s high-quality development.Using listed companies in China’s logistics industry from 2010 to 2021 as the research samples,this paper conducts an empirical test on the impact of the digital transformation of logistics enterprises on their green in-novation.Specifically,enterprise digital transformation indicators are constructed through the text analysis method,and the fixed-effects model is applied for analysis.The results indicate that the digital transformation of logistics enterprises has a significant promoting effect on their green innovation;the promoting effect of the digital transformation of logistics enterprises on green innovation is primarily achieved by easing corporate financing constraints and reducing corporate en-vironmental uncertainty;and the impact of digital transformation on green innovation is geographically heterogeneous.展开更多
The rapid development of the digital economy profoundly impacts global industries,presenting both opportunities and challenges for traditional sectors like petroleum.This study investigates the impact of the digital e...The rapid development of the digital economy profoundly impacts global industries,presenting both opportunities and challenges for traditional sectors like petroleum.This study investigates the impact of the digital economy on the performance of Chinese petroleum enterprises,focusing on the mediating role of total factor productivity(TFP).Utilizing panel data from Chinese petroleum firms(2018–2023),we construct a macro digital economy development index(using the entropy method)and a micro-level enterprise digital transformation index.Empirical analysis employs panel data models and mediation effect models.Findings reveal that regional digital economy development significantly positively affects firms’Tobin’s Q(coefficient=0.516).Enterprise digital transformation significantly enhances Return on Equity(ROE)(coefficient=27.456).Mediation tests confirm that TFP partially mediates the relationship between digital transformation and firm performance.Heterogeneity analysis shows differences based on ownership:regional digital economy development has a slightly stronger effect on state-owned enterprises’(SOEs)market value,while its effect is statistically more significant for private enterprises.Conversely,digital transformation boosts ROE more significantly in private firms.The study concludes with policy recommendations,including promoting digital governance reform in SOEs,increasing support for private firms’digitalization,building a digital technology innovation ecosystem to enhance TFP,and optimizing digital investment structures for better capital market recognition.展开更多
How do individuals adjust their savings and consumption behaviors in response to the combined effects of increased life expectancy and declining pension replacement rates?This study constructs a life-cycle model,using...How do individuals adjust their savings and consumption behaviors in response to the combined effects of increased life expectancy and declining pension replacement rates?This study constructs a life-cycle model,using changes in conditional survival probabilities as a proxy for shifts in individual life expectancy,to examine consumption behavior under the dual backdrop of prolonged longevity and a gradual decline in pension replacement rates.The results suggest that changes in life expectancy and pension replacement rates together explain 8.9%to 10.2%of the observed decline in consumption in recent years,with both variables playing equally significant explanatory roles.Furthermore,we find that,to fully offset the negative impact of increased life expectancy on consumption,the pension replacement rate must reach at least 82%.These findings offer theoretical and policy implications for improving the quality of life in later years among enterprise employees in the context of population aging.展开更多
Under the current background of an information society,the digital transformation of enterprises has become a necessary means to enhance the competitiveness of enterprises.This article is based on the industrial Inter...Under the current background of an information society,the digital transformation of enterprises has become a necessary means to enhance the competitiveness of enterprises.This article is based on the industrial Internet platform,the digital planning and architecture of enterprises research.First,we analyze the current challenges of digital transformation and the development opportunities brought by the industrial Internet.Then,we propose a digital planning method based on the industrial Internet platform,which takes the full connectivity of people,machine and things and intelligent decision making as the core,takes data collection,processing,analysis and application as the main line,and finally forms the top-level design of the digital transformation of enterprises.At the same time,we also built an industrial Internet platform architecture model,including the previous end perception layer,network transmission layer,platform service layer,and application innovation layer for four levels,to support enterprises in innovative applications and decision support under the industrial Internet environment.Research shows that this kind of enterprise digital planning and architecture based on an industrial Internet platform can effectively promote enterprises to achieve business model innovation,system innovation,and strengthen the flexibility and agility of enterprises to respond to market changes.The results of this research not only have important theoretical and practical significance for guiding enterprises to carry out digital planning and build an industrial Internet platform,but also provide useful reference for relevant policy formulation.展开更多
To promote energy conservation,emission reduction,and sustainable development in thermal power enterprises,this study conducted a detailed analysis of the problems existing in measurement management in these enterpris...To promote energy conservation,emission reduction,and sustainable development in thermal power enterprises,this study conducted a detailed analysis of the problems existing in measurement management in these enterprises and explored targeted solutions.The analysis found that,faced with increasingly stringent environmental protection requirements and urgent needs to improve energy efficiency,thermal power enterprises must address the current issues in energy measurement management.They should actively respond to the national call for energy conservation and emission reduction,continuously optimize energy measurement management processes,improve energy utilization efficiency,reduce unnecessary energy consumption and emissions,and lay a solid foundation for the green transformation and sustainable development of the industry.展开更多
In recent years,with the advent of the digital era,digital transformation has become a mainstream social trend.As a powerful driving force,digital transformation is profoundly changing the operation mode and managemen...In recent years,with the advent of the digital era,digital transformation has become a mainstream social trend.As a powerful driving force,digital transformation is profoundly changing the operation mode and management method of enterprise supply chains.Enterprises should seize this opportunity to continuously enhance supply chain resilience.Enhancing enterprise supply chain resilience based on digital transformation can not only improve the supply chain’s resistance and recovery capabilities,but also further enhance its innovation capability.This helps enterprises better respond to various unstable factors and provides protection for promoting the sustainable development of the supply chain.In this regard,this paper first expounds the multi-dimensional value of digital transformation in enhancing enterprise supply chain resilience,and then puts forward effective paths,aiming to provide certain reference for relevant researchers.展开更多
With intensifying market competition and growing financial complexity,strengthening risk control in corporate capital investment management has become imperative.This paper examines the critical role of risk managemen...With intensifying market competition and growing financial complexity,strengthening risk control in corporate capital investment management has become imperative.This paper examines the critical role of risk management in ensuring financial stability,optimizing resource allocation,and achieving strategic objectives.It identifies key risk categories including market volatility,liquidity challenges,operational risks,and strategic misalignment,while proposing targeted strategies such as dynamic monitoring,strategic planning,decision-making optimization,and focused risk management.展开更多
In the dual context of VUCA era and digital transformation,enterprise resilience,as the core ability of organizations to resist shocks,adapt to changes,and achieve sustainable development,has increasingly highlighted ...In the dual context of VUCA era and digital transformation,enterprise resilience,as the core ability of organizations to resist shocks,adapt to changes,and achieve sustainable development,has increasingly highlighted its theoretical connotation and practical value.This article systematically explores the interdisciplinary theoretical origins,multidimensional dynamic measurement methods,and complex influencing factors of enterprise resilience.Research has shown that:(1)the concept of resilience originates from ecology,engineering,and physics,and extends to the field of complex adaptive systems,forming a micro capability integration framework of“pre crisis prevention crisis response crisis recovery”,as well as macro strategic attributes that support high-quality development of the national economy;(2)Resilience measurement needs to integrate subjective and objective dynamic indicators:at the subjective level,Likert scale is used to evaluate organizational capability traits,and at the objective level,financial performance fluctuations,market performance,and crisis learning behavior are combined;(3)Resilience is driven by the synergy of multiple levels of factors:internal dependence on organizational capability foundation,digital empowerment,external resource linkage,policy environment,and sustainable governance.Its interaction mechanism accelerates capability updates through digital iteration,policy activates resource networks,and ultimately constructs an organizational resilience system of“survival adaptation evolution”.This article provides a unified analytical framework for the study of enterprise resilience,and provides theoretical guidance and practical paths for organizations in the digital age to cultivate risk resistance capabilities and achieve resilience evolution.展开更多
With the advent of the digital-intelligence economy era,intelligence and networking have profoundly changed people’s lifestyles and working methods,and also posed new challenges and requirements for enterprise manage...With the advent of the digital-intelligence economy era,intelligence and networking have profoundly changed people’s lifestyles and working methods,and also posed new challenges and requirements for enterprise management.Against this background,modern management has become a new trend in the transformation of enterprise management.Based on this,this paper conducts research on the modernization transformation path of enterprise management in the digital-intelligence economy era,expounds the impact of the digital-intelligence economy on enterprise management in China,analyzes the connotation of modernization of enterprise management,and proposes the modernization transformation path of enterprise management,aiming to provide theoretical reference and practical guidance for enterprises to achieve modern management in the wave of the digital-intelligence economy.展开更多
Despite broad consensus on the importance of enterprise digital transformation,significant discrepancies persist regarding its actual effects.This divergence stems primarily from two key measurement challenges:(1)a la...Despite broad consensus on the importance of enterprise digital transformation,significant discrepancies persist regarding its actual effects.This divergence stems primarily from two key measurement challenges:(1)a lack of clear and consistent definitions of enterprise digital transformation,and(2)a lack of rigorous and accurate measurement methodologies.These shortcomings lead to research findings that are incomparable,difficult to replicate,and often conflicting.To effectively address the aforementioned challenges,this paper employs machine learning and large language models(LLMs)to construct a novel set of indicators for enterprise digital transformation.The work begins by manually annotating sentences from annual reports of listed companies in China from 2006 to 2020.These labeled sentences are then used to train and fine-tune several machine learning models,including LLMs.The ERNIE model,demonstrating the best classification performance among the models tested,is selected as the sentence classifier to predict sentence labels across the full text of the annual reports,ultimately constructing the enterprise digital transformation metrics.Both theoretical analysis and multiple data cross-validations demonstrate that the metrics developed in this paper are more accurate than existing approaches.Based on these metrics,the paper empirically examines the impact of enterprise digital transformation on financial performance.Our findings reveal three key points:(1)enterprise digital transformation significantly enhances financial performance,with big data,AI,mobile internet,cloud computing,and the Internet of Things(IoT)all playing a significant role;however,blockchain technology does not show a significant effect;(2)the significant positive effect of digital transformation on financial performance is primarily observed in firms with weaker initial financial performance;and(3)enterprise digital transformation improves financial performance mainly through enhancing efficiency and reducing costs.This research has practical implications for promoting enterprise digital transformation and fostering high-quality economic development.展开更多
This study empirically examines the impact,mechanisms,and heterogeneity of artificial intelligence(AI)on innovation in manufacturing enterprises,using data from Chinese A-share listed companies(2011-2022).Using fixed-...This study empirically examines the impact,mechanisms,and heterogeneity of artificial intelligence(AI)on innovation in manufacturing enterprises,using data from Chinese A-share listed companies(2011-2022).Using fixed-effects models and mediation analysis,we find that AI significantly drives innovation in manufacturing,a conclusion supported by various robustness checks.The development of AI enables manufacturing enterprises to achieve cost savings and workforce upgrading.Mechanism analysis identifies two key channels through which AI fosters innovation:increasing talent compensation and widening wage disparities.Heterogeneity tests reveal stronger innovation effects in non-state-owned enterprises,firms in the mature and declining stages,industries with lower concentration,and enterprises located in central and eastern China.Further analysis shows that AI’s impact on substantive innovation is non-linear and moderated by technological intensity and economic uncertainty.Based on these findings,we propose policy recommendations,including the steadfast promotion of intelligent transformation,stage-differentiated implementation,enhanced talent cultivation and policy support,and the accelerated realization of AI’s innovation potential.展开更多
In the process of implementing data openness between banks and fin-tech companies,as the breadth and depth of cooperation between banks and enterprises continue to increase,there is a risk of“too much correlation to ...In the process of implementing data openness between banks and fin-tech companies,as the breadth and depth of cooperation between banks and enterprises continue to increase,there is a risk of“too much correlation to fail”and“too many links to fail”.There are problems with the implementation of financial data openness by regulatory agencies for banks and fin-tech enterprises,such as the ambiguity of regulatory responsibilities,the emphasis on financial regulatory goals,and the lag in regulatory methods.To address these issues,it is necessary to clarify the responsibilities of financial regulatory agencies,establish a collaborative mechanism for financial regulation,coordinate the types of risks in bank enterprise cooperation,achieve the technical implementation of financial regulatory measures and the design of regulatory systems,obtain regulatory data in real time,establish a hierarchical regulatory system for bank enterprise cooperation to improve the regulatory path,and ensure the rational and legal use of financial data in bank enterprise cooperation.展开更多
Objective To empirically analyze the relationship between Government R&D funding and R&D investment of the enterprises in different sub industries of pharmaceutical industry,and to provide reference for the de...Objective To empirically analyze the relationship between Government R&D funding and R&D investment of the enterprises in different sub industries of pharmaceutical industry,and to provide reference for the development of policies related to R&D funding input.Methods Granger causality test was performed using the data of relevant indicators in different sub industries of China’s pharmaceutical industry from 1995 to 2019 based on the theory of covariance.Results and Conclusion The funding of R&D from the government had a significant positive effect on their R&D funding inputs to enterprises with chemo products,Chinese patent products,and biological products.It means the improvement of government funding was beneficial in promoting the R&D investment from various sub industries of pharmaceutical industry.The order of this influence was biological products,chemo products,and Chinese patent drugs.As to chemical drugs and biological products,the government’s R&D funding and enterprises R&D funding input showed a good trend of mutual promotion in a certain lag period.The government can fully leverage its funding to promote the investment of all sub industries of pharmaceutical industry.Meanwhile,regulatory mechanisms should be refined for government funding.For the inheritance,innovation,and development of traditional Chinese medicine,the government should give more policy support than financial support.展开更多
In the global wave of energy transition and low-carbon development,China Petroleum Enterprise Association,together with the University of International Business and Economics,China University of Petroleum-Beijing,Sout...In the global wave of energy transition and low-carbon development,China Petroleum Enterprise Association,together with the University of International Business and Economics,China University of Petroleum-Beijing,Southwest Petroleum University,and other institutions,released four significant blue books on April 17:Annual Operating Report of China’s Natural Gas Industry Blue Book(2024-2025),China Oil&Gas Industry Development Analysis and Outlook Blue Book(2024-2025),China Low-Carbon Economy Development Report Blue Book(2024-2025),and Refined Oil and New Energy Development Report Blue Book(2024-2025).This series of blue books provides a comprehensive and high-level analysis of the development,issues,and trends in the oil and gas industry,offering a detailed depiction of the China Oil&Gas industry and its progress towards low-carbon development.展开更多
Currently,the transformation and upgrading of digitalization have become a new task that enterprises urgently need to address.To further enhance the leadership of enterprise leaders,relevant enterprise staff should fa...Currently,the transformation and upgrading of digitalization have become a new task that enterprises urgently need to address.To further enhance the leadership of enterprise leaders,relevant enterprise staff should face up to the infinite possibilities that generative AI brings to enterprise management.Based on this,this paper will briefly analyze the value connotation of generative AI empowering the improvement of enterprise leadership and the relevant influencing factors,and discuss the strategies for enhancing enterprise leadership in the generative AI era,in order to promote the smooth progress of enterprises’digital transformation and upgrading.展开更多
The digital economy has significant positive externalities in promoting the sustainable development of enterprises,providing an important opportunity for enterprises to improve their ESG performance.Through analysis,i...The digital economy has significant positive externalities in promoting the sustainable development of enterprises,providing an important opportunity for enterprises to improve their ESG performance.Through analysis,it is found that the digital economy has a huge impact on enterprise performance,mainly through three mechanisms:promoting environmental performance,strengthening social responsibility,and optimizing the governance structure.The research results of this paper help to expand the understanding of the dividend effect of the digital economy and deepen the theoretical understanding of the sustainable development of enterprises in the context of the digital economy.展开更多
With the continuous increase in global attention to Environmental,Social,and Governance(ESG)issues,an enterprise’s ESG performance has become an important indicator for measuring its comprehensive competitiveness.As ...With the continuous increase in global attention to Environmental,Social,and Governance(ESG)issues,an enterprise’s ESG performance has become an important indicator for measuring its comprehensive competitiveness.As an innovative financial model that integrates the industrial chain and financial resources,supply chain finance not only improves the capital liquidity and resource allocation efficiency of enterprises but also plays a positive role in promoting the sustainable development of enterprises.Based on the operational characteristics and internal mechanisms of supply chain finance,this paper systematically analyzes its impact pathways on enterprises’ESG performance,aiming to provide theoretical support and practical references for enterprises to improve their sustainable development strategies and for the government to optimize policy-making.展开更多
文摘Cash flow is a core element for enterprises to maintain operations and development.Cash flow forecasting models,through systematic analysis of an enterprise’s historical cash flow data,trends in operating activities,and external environmental factors,scientifically predict the scale,direction,and fluctuation of cash flow within a certain period in the future.This article focuses on the application of cash flow forecasting models in enterprise investment and financing decisions,sorts out the types and core functions of the models,analyzes their specific roles in investment project screening,financing plan formulation,risk prevention and control,and fund allocation,points out the existing problems in current applications,and proposes optimization paths.Research shows that the scientific application of cash flow forecasting models can enhance the accuracy and rationality of enterprises’investment and financing decisions,and help enterprises achieve sustainable development.
文摘As a key sector in advancing China’s“carbon neutrality”goal,the machinery manufacturing industry has achieved remarkable development in recent years.Against this backdrop,the scientific and objective evaluation of the financial performance of machinery manufacturing enterprises has become a pressing issue in financial research.This topic is not only crucial for optimizing enterprise management and improving operational efficiency but also essential for enhancing overall industry performance and promoting sustainable development.This paper first introduces the concept of financial performance,followed by an analysis of related financial performance evaluation theories.It then focuses on the application of the entropy method in evaluating the financial performance of machinery manufacturing enterprises,detailing its analytical steps.Finally,a financial performance evaluation index system is constructed based on four dimensions:profitability,solvency,operational efficiency,and growth potential.
基金supported by the National Natural Science Foundation of China(72374061,72204243)the Ministry of Education’s Humanities and Social Science Research Youth Fund Project(20YJC630138,22YJC630056)+1 种基金Anhui Provincial Natural Science Foundation(2208085UD02)New Liberal Arts Fund Expansion Project of University of Science and Technology of China(FSSF-A-230317).
文摘In the era of green logistics,digital transformation has become an effective means for the logistics industry’s high-quality development.Using listed companies in China’s logistics industry from 2010 to 2021 as the research samples,this paper conducts an empirical test on the impact of the digital transformation of logistics enterprises on their green in-novation.Specifically,enterprise digital transformation indicators are constructed through the text analysis method,and the fixed-effects model is applied for analysis.The results indicate that the digital transformation of logistics enterprises has a significant promoting effect on their green innovation;the promoting effect of the digital transformation of logistics enterprises on green innovation is primarily achieved by easing corporate financing constraints and reducing corporate en-vironmental uncertainty;and the impact of digital transformation on green innovation is geographically heterogeneous.
文摘The rapid development of the digital economy profoundly impacts global industries,presenting both opportunities and challenges for traditional sectors like petroleum.This study investigates the impact of the digital economy on the performance of Chinese petroleum enterprises,focusing on the mediating role of total factor productivity(TFP).Utilizing panel data from Chinese petroleum firms(2018–2023),we construct a macro digital economy development index(using the entropy method)and a micro-level enterprise digital transformation index.Empirical analysis employs panel data models and mediation effect models.Findings reveal that regional digital economy development significantly positively affects firms’Tobin’s Q(coefficient=0.516).Enterprise digital transformation significantly enhances Return on Equity(ROE)(coefficient=27.456).Mediation tests confirm that TFP partially mediates the relationship between digital transformation and firm performance.Heterogeneity analysis shows differences based on ownership:regional digital economy development has a slightly stronger effect on state-owned enterprises’(SOEs)market value,while its effect is statistically more significant for private enterprises.Conversely,digital transformation boosts ROE more significantly in private firms.The study concludes with policy recommendations,including promoting digital governance reform in SOEs,increasing support for private firms’digitalization,building a digital technology innovation ecosystem to enhance TFP,and optimizing digital investment structures for better capital market recognition.
文摘How do individuals adjust their savings and consumption behaviors in response to the combined effects of increased life expectancy and declining pension replacement rates?This study constructs a life-cycle model,using changes in conditional survival probabilities as a proxy for shifts in individual life expectancy,to examine consumption behavior under the dual backdrop of prolonged longevity and a gradual decline in pension replacement rates.The results suggest that changes in life expectancy and pension replacement rates together explain 8.9%to 10.2%of the observed decline in consumption in recent years,with both variables playing equally significant explanatory roles.Furthermore,we find that,to fully offset the negative impact of increased life expectancy on consumption,the pension replacement rate must reach at least 82%.These findings offer theoretical and policy implications for improving the quality of life in later years among enterprise employees in the context of population aging.
文摘Under the current background of an information society,the digital transformation of enterprises has become a necessary means to enhance the competitiveness of enterprises.This article is based on the industrial Internet platform,the digital planning and architecture of enterprises research.First,we analyze the current challenges of digital transformation and the development opportunities brought by the industrial Internet.Then,we propose a digital planning method based on the industrial Internet platform,which takes the full connectivity of people,machine and things and intelligent decision making as the core,takes data collection,processing,analysis and application as the main line,and finally forms the top-level design of the digital transformation of enterprises.At the same time,we also built an industrial Internet platform architecture model,including the previous end perception layer,network transmission layer,platform service layer,and application innovation layer for four levels,to support enterprises in innovative applications and decision support under the industrial Internet environment.Research shows that this kind of enterprise digital planning and architecture based on an industrial Internet platform can effectively promote enterprises to achieve business model innovation,system innovation,and strengthen the flexibility and agility of enterprises to respond to market changes.The results of this research not only have important theoretical and practical significance for guiding enterprises to carry out digital planning and build an industrial Internet platform,but also provide useful reference for relevant policy formulation.
文摘To promote energy conservation,emission reduction,and sustainable development in thermal power enterprises,this study conducted a detailed analysis of the problems existing in measurement management in these enterprises and explored targeted solutions.The analysis found that,faced with increasingly stringent environmental protection requirements and urgent needs to improve energy efficiency,thermal power enterprises must address the current issues in energy measurement management.They should actively respond to the national call for energy conservation and emission reduction,continuously optimize energy measurement management processes,improve energy utilization efficiency,reduce unnecessary energy consumption and emissions,and lay a solid foundation for the green transformation and sustainable development of the industry.
文摘In recent years,with the advent of the digital era,digital transformation has become a mainstream social trend.As a powerful driving force,digital transformation is profoundly changing the operation mode and management method of enterprise supply chains.Enterprises should seize this opportunity to continuously enhance supply chain resilience.Enhancing enterprise supply chain resilience based on digital transformation can not only improve the supply chain’s resistance and recovery capabilities,but also further enhance its innovation capability.This helps enterprises better respond to various unstable factors and provides protection for promoting the sustainable development of the supply chain.In this regard,this paper first expounds the multi-dimensional value of digital transformation in enhancing enterprise supply chain resilience,and then puts forward effective paths,aiming to provide certain reference for relevant researchers.
文摘With intensifying market competition and growing financial complexity,strengthening risk control in corporate capital investment management has become imperative.This paper examines the critical role of risk management in ensuring financial stability,optimizing resource allocation,and achieving strategic objectives.It identifies key risk categories including market volatility,liquidity challenges,operational risks,and strategic misalignment,while proposing targeted strategies such as dynamic monitoring,strategic planning,decision-making optimization,and focused risk management.
基金2025 Nanjing University of Science and Technology Zijin College Campus level Scientific ResearchResearch on the Mechanism,Path,and Policy of Generative AI Cracking the Bottom Logic of Organizational Resilience(Project No.:2025ZXSK0401004)。
文摘In the dual context of VUCA era and digital transformation,enterprise resilience,as the core ability of organizations to resist shocks,adapt to changes,and achieve sustainable development,has increasingly highlighted its theoretical connotation and practical value.This article systematically explores the interdisciplinary theoretical origins,multidimensional dynamic measurement methods,and complex influencing factors of enterprise resilience.Research has shown that:(1)the concept of resilience originates from ecology,engineering,and physics,and extends to the field of complex adaptive systems,forming a micro capability integration framework of“pre crisis prevention crisis response crisis recovery”,as well as macro strategic attributes that support high-quality development of the national economy;(2)Resilience measurement needs to integrate subjective and objective dynamic indicators:at the subjective level,Likert scale is used to evaluate organizational capability traits,and at the objective level,financial performance fluctuations,market performance,and crisis learning behavior are combined;(3)Resilience is driven by the synergy of multiple levels of factors:internal dependence on organizational capability foundation,digital empowerment,external resource linkage,policy environment,and sustainable governance.Its interaction mechanism accelerates capability updates through digital iteration,policy activates resource networks,and ultimately constructs an organizational resilience system of“survival adaptation evolution”.This article provides a unified analytical framework for the study of enterprise resilience,and provides theoretical guidance and practical paths for organizations in the digital age to cultivate risk resistance capabilities and achieve resilience evolution.
文摘With the advent of the digital-intelligence economy era,intelligence and networking have profoundly changed people’s lifestyles and working methods,and also posed new challenges and requirements for enterprise management.Against this background,modern management has become a new trend in the transformation of enterprise management.Based on this,this paper conducts research on the modernization transformation path of enterprise management in the digital-intelligence economy era,expounds the impact of the digital-intelligence economy on enterprise management in China,analyzes the connotation of modernization of enterprise management,and proposes the modernization transformation path of enterprise management,aiming to provide theoretical reference and practical guidance for enterprises to achieve modern management in the wave of the digital-intelligence economy.
基金supported by the Fundamental Research Funds for the Central Universitiesfollowing projects:the Major Project of the National Social Science Fund of China(NSSFC)“Research on the Synergistic Mechanisms of Innovation and Governance for High-Quality Development of the Digital Economy”(Grant No.22&ZD070)+1 种基金the Youth Project of the National Natural Science Foundation of China(NSFC)“Research on Risk-Taking of Zombie Enterprises from a Government-Enterprise Interaction Perspective:Tendency,Behavioral Patterns,and Economic Consequences”(Grant No.72002213)the General Program of the National Natural Science Foundation of China(NSFC)“Reshaping Enterprise Nature,Boundaries,and Internal Organization in the Digital Economy”(Grant No.72273144).
文摘Despite broad consensus on the importance of enterprise digital transformation,significant discrepancies persist regarding its actual effects.This divergence stems primarily from two key measurement challenges:(1)a lack of clear and consistent definitions of enterprise digital transformation,and(2)a lack of rigorous and accurate measurement methodologies.These shortcomings lead to research findings that are incomparable,difficult to replicate,and often conflicting.To effectively address the aforementioned challenges,this paper employs machine learning and large language models(LLMs)to construct a novel set of indicators for enterprise digital transformation.The work begins by manually annotating sentences from annual reports of listed companies in China from 2006 to 2020.These labeled sentences are then used to train and fine-tune several machine learning models,including LLMs.The ERNIE model,demonstrating the best classification performance among the models tested,is selected as the sentence classifier to predict sentence labels across the full text of the annual reports,ultimately constructing the enterprise digital transformation metrics.Both theoretical analysis and multiple data cross-validations demonstrate that the metrics developed in this paper are more accurate than existing approaches.Based on these metrics,the paper empirically examines the impact of enterprise digital transformation on financial performance.Our findings reveal three key points:(1)enterprise digital transformation significantly enhances financial performance,with big data,AI,mobile internet,cloud computing,and the Internet of Things(IoT)all playing a significant role;however,blockchain technology does not show a significant effect;(2)the significant positive effect of digital transformation on financial performance is primarily observed in firms with weaker initial financial performance;and(3)enterprise digital transformation improves financial performance mainly through enhancing efficiency and reducing costs.This research has practical implications for promoting enterprise digital transformation and fostering high-quality economic development.
基金funded by grants from the National Social Science Fund of China General Project“Research on Value Creation of New Quality Productive Forces in Manufacturing Driven by Digital Intelligence”(No.24BJY005).
文摘This study empirically examines the impact,mechanisms,and heterogeneity of artificial intelligence(AI)on innovation in manufacturing enterprises,using data from Chinese A-share listed companies(2011-2022).Using fixed-effects models and mediation analysis,we find that AI significantly drives innovation in manufacturing,a conclusion supported by various robustness checks.The development of AI enables manufacturing enterprises to achieve cost savings and workforce upgrading.Mechanism analysis identifies two key channels through which AI fosters innovation:increasing talent compensation and widening wage disparities.Heterogeneity tests reveal stronger innovation effects in non-state-owned enterprises,firms in the mature and declining stages,industries with lower concentration,and enterprises located in central and eastern China.Further analysis shows that AI’s impact on substantive innovation is non-linear and moderated by technological intensity and economic uncertainty.Based on these findings,we propose policy recommendations,including the steadfast promotion of intelligent transformation,stage-differentiated implementation,enhanced talent cultivation and policy support,and the accelerated realization of AI’s innovation potential.
文摘In the process of implementing data openness between banks and fin-tech companies,as the breadth and depth of cooperation between banks and enterprises continue to increase,there is a risk of“too much correlation to fail”and“too many links to fail”.There are problems with the implementation of financial data openness by regulatory agencies for banks and fin-tech enterprises,such as the ambiguity of regulatory responsibilities,the emphasis on financial regulatory goals,and the lag in regulatory methods.To address these issues,it is necessary to clarify the responsibilities of financial regulatory agencies,establish a collaborative mechanism for financial regulation,coordinate the types of risks in bank enterprise cooperation,achieve the technical implementation of financial regulatory measures and the design of regulatory systems,obtain regulatory data in real time,establish a hierarchical regulatory system for bank enterprise cooperation to improve the regulatory path,and ensure the rational and legal use of financial data in bank enterprise cooperation.
文摘Objective To empirically analyze the relationship between Government R&D funding and R&D investment of the enterprises in different sub industries of pharmaceutical industry,and to provide reference for the development of policies related to R&D funding input.Methods Granger causality test was performed using the data of relevant indicators in different sub industries of China’s pharmaceutical industry from 1995 to 2019 based on the theory of covariance.Results and Conclusion The funding of R&D from the government had a significant positive effect on their R&D funding inputs to enterprises with chemo products,Chinese patent products,and biological products.It means the improvement of government funding was beneficial in promoting the R&D investment from various sub industries of pharmaceutical industry.The order of this influence was biological products,chemo products,and Chinese patent drugs.As to chemical drugs and biological products,the government’s R&D funding and enterprises R&D funding input showed a good trend of mutual promotion in a certain lag period.The government can fully leverage its funding to promote the investment of all sub industries of pharmaceutical industry.Meanwhile,regulatory mechanisms should be refined for government funding.For the inheritance,innovation,and development of traditional Chinese medicine,the government should give more policy support than financial support.
文摘In the global wave of energy transition and low-carbon development,China Petroleum Enterprise Association,together with the University of International Business and Economics,China University of Petroleum-Beijing,Southwest Petroleum University,and other institutions,released four significant blue books on April 17:Annual Operating Report of China’s Natural Gas Industry Blue Book(2024-2025),China Oil&Gas Industry Development Analysis and Outlook Blue Book(2024-2025),China Low-Carbon Economy Development Report Blue Book(2024-2025),and Refined Oil and New Energy Development Report Blue Book(2024-2025).This series of blue books provides a comprehensive and high-level analysis of the development,issues,and trends in the oil and gas industry,offering a detailed depiction of the China Oil&Gas industry and its progress towards low-carbon development.
文摘Currently,the transformation and upgrading of digitalization have become a new task that enterprises urgently need to address.To further enhance the leadership of enterprise leaders,relevant enterprise staff should face up to the infinite possibilities that generative AI brings to enterprise management.Based on this,this paper will briefly analyze the value connotation of generative AI empowering the improvement of enterprise leadership and the relevant influencing factors,and discuss the strategies for enhancing enterprise leadership in the generative AI era,in order to promote the smooth progress of enterprises’digital transformation and upgrading.
基金Exploration of the Impact of Financial Reforms in the Hainan Free Trade Port on Enterprises,General Project(Project No.:HKKY2024-13)。
文摘The digital economy has significant positive externalities in promoting the sustainable development of enterprises,providing an important opportunity for enterprises to improve their ESG performance.Through analysis,it is found that the digital economy has a huge impact on enterprise performance,mainly through three mechanisms:promoting environmental performance,strengthening social responsibility,and optimizing the governance structure.The research results of this paper help to expand the understanding of the dividend effect of the digital economy and deepen the theoretical understanding of the sustainable development of enterprises in the context of the digital economy.
基金Exploration and Practice of the Application of Blockchain Technology in the Cultivation of Composite Talents in the Context of the Free Trade Port(Project No.:HKJG2023-18)。
文摘With the continuous increase in global attention to Environmental,Social,and Governance(ESG)issues,an enterprise’s ESG performance has become an important indicator for measuring its comprehensive competitiveness.As an innovative financial model that integrates the industrial chain and financial resources,supply chain finance not only improves the capital liquidity and resource allocation efficiency of enterprises but also plays a positive role in promoting the sustainable development of enterprises.Based on the operational characteristics and internal mechanisms of supply chain finance,this paper systematically analyzes its impact pathways on enterprises’ESG performance,aiming to provide theoretical support and practical references for enterprises to improve their sustainable development strategies and for the government to optimize policy-making.
