In the era of the digital economy, the digital transformation of enterprise finance has become an important issue that needs to be studied and solved urgently. This research uses a multiple-case study and grounded theory methods to construct an exploratory theory. The results show that the improvement of laws and regulations, changes in economic environment, cultural transformation, technological progress, leadership promotion and internal financial needs have a significant impact on enterprise financial digital transformation. Promoting enterprise informatization, strengthening organizational mechanism guarantee, cultivating big data financial talent teams, realizing data opening and sharing, and creating a good cultural atmosphere are the conditions for enterprises to achieve financial digital transformation. The path of enterprise financial digital transformation includes transforming financial thinking, building a digital financial system, innovating financial analysis methods, restructuring financial processes, innovating financial models, and improving big data financial systems. The conclusion not only enriches the relevant theoretical research on financial digital transformation, but also provides a theoretical framework and tools for enterprises to systematically promote financial digital transformation.

Leadership development is crucial for the development of human resources and the cultivation of leaders within organizations. However, there has been ongoing debate in research regarding the specific content of leadership development and how to effectively validate developmental outcomes. This study employs the research methodology of grounded theory and conducts in-depth interviews and on-site research with Company A, which is currently implementing a leadership development program. Drawing from the multilevel framework of developing self, developing team, and developing organization, a leadership development model containing six core elements is constructed, including “being” “doing” “subordinate development” “team cohesion” “organizational management” and “performance management”. This study further compares this six-element model with the “Direction-Alignment-Commitment” (DAC) model. In conclusion, the study found that “developing self” inspires commitment, “developing team” generates direction, collaboration, and commitment, and “developing organization” facilitates direction and alignment. This provides validation for the effectiveness of the proposed leadership development model.

In order to change the traditional mode of production and operation and meet the personalized needs of consumers, it has become a trend for enterprises to use industrial internet platforms for a digital transformation. This study uses the grounded theory to study the case of Haier COSMO industrial internet platform, and builds a value co-creation empowerment model of industrial internet platform. It is found that the digital enabling process follows the logical relationship of “R&D enablement — production enablement — operation enablement” step by step. At the same time, the industrial internet platform enables enterprises and consumers to form a value co-creation mode. This study has enriched the theory of digital empowerment from the perspective of industrial internet platforms and provided a reference for traditional manufacturing enterprises to carry out digital transformations.

In the field of agricultural products, how to realize the coordinated development of regional public and enterprise brands has become a social concern. Based on the perspective of regional public brands and value co-creation, this article takes Hangzhou Shifeng Tea Co., Ltd. as the research object, and adopts an exploratory single case study method to analyze the process mechanism of the high-end brand of Lion Longjing. The research finds that high-end brands can be divided into three stages, that is, quality improvement, business model innovation, and cultural and technological empowerment. Brand value co-creation is conducive to the construction of high-end corporate brands, and so is the participation of stakeholders in value co-creation to the formation of benign perceptions and feedbacks on corporate brands. The article enriches the theoretical connotation of tea enterprises' brand value co-creation, and expands the theoretical boundary of value co-creation and enterprise growth. At the same time, it explains that the brand building of tea enterprises is closely related to the participation of multiple subjects, which is of great significance to how to build a new path for corporate brand building under the background of the construction of regional public brands of agricultural products in China.

In order to effectively answer the scientific question of how scenarios enable business model innovation based on the supply chain, a comprehensive combination of case studies and grounded paradigm analyses is adopted to conduct an in-depth study on it. The research results show that: ①the scenario is based on the value co-creation network of the supply chain, and enables business model innovation based on the logical relationship of value creation motivation-value proposition-value creation subject-value creation process. ②with the help of the standardized configuration of business scenario-consumption expectation-platform context, the scenario relating contents is based on the value co-creation network and enables the business model innovation through seamless implantation of advertising. ③scenario enabled social networking uses the personalized configuration of business scenario-consumption expectation- platform context, and enables a business model innovation based on value co-creation networks through live delivery or knowledge payment. ④with the help of the selective integration of scenario-connected contents and scenario-driven socialization, the two-wheel drive of the scenario is based on the supply chain and the value co-creation network to strengthen the business model innovation.

At present, China has entered a new stage of the green transformation of economic and social development, the environmental problems faced by a number of high-energy-consuming and high-emission traditional industries cannot be ignored. When an enterprise is challenged by environmental issues in a dynamic environment, the first decision it should make is to transform its environmental strategy. This paper takes Jiangxi Copper as the study object, along the route of “Driving factor-Environmental strategy-Implementation effect”, explores the process mechanism of environmental strategy transformation of enterprises driven by both internal and external factors, and further study the impact of environmental strategy transformation of enterprises on their high-quality development. The analysis reveals that with the changes of external environmental regulation and the evolution of internal green dynamic capabilities, the environmental strategies of enterprises have completed the transformation according to the path of “Reactive-Defensive- Adaptive-Proactive” environment strategy. At the same time, in the process of transformation, its environmental investment has gradually increased, green innovation has been significantly strengthened, and high-quality growth in all dimensions of development has been realized.

The exploratory function of case studies has been widely recognized by the academic circles at home and abroad, but there are still many doubts about the universality of the research conclusions. Based on the understanding of the universal function of research and extrapolation, this paper discusses the extrapolation of case studies and responds to the key questions such as whether case studies need extrapolation, whether case studies can achieve extrapolation and what are the applicable conditions of extrapolation in turn. First of all, through the understanding of the case study extrapolation context, it is found that the more complex the context is, the weaker the universality of the research conclusion. In addition to the constraints of the complex context, the case study is more likely to cause the universality issue due to the small number of samples, and it is concluded that the extrapolation of the case study is extremely necessary. Secondly, through the in-depth analysis of the case study extrapolation context, it shows that although a case study is in a complex context, it can be generalized as universal constructs or in a simplified context combination through induction, thus laying the basis and conditions for extrapolation, and reaching the conclusion that a case study can achieve extrapolation on the basis of similar contexts. Thirdly, by discussing the boundary and scope of case study extrapolation, this study finds out the research objects under the homogenous contextual characteristics and similar contextual combinations, and the applicable theory can be compared and discussed, and concludes that the applicable conditions of case study extrapolation mainly include contextual feature mining and dynamic contextual combinations. Finally, in order to ensure the implementation of case study extrapolation, the process of extrapolation is further refined into basic and extended extrapolations, which provides references and suggestions for scholars to carry out case studies with universal values, and facilitates the vigorous development of management studies in China.

Business model is a means for enterprises to seek competitive position and achieve excellent performance, and there is a causal relationship between the viability of enterprises and the construction and transformation of business models, which has been proved by existing academic research. However, why does the business model affect the viability of company? and what factors play a conductive role between them? At present, the theoretical community has not yet sorted out clearly. Therefore, based on the perspective of cash flow theory, with S corporation as the research object, this paper adopts the longitudinal case study method to explore the mechanism between the business model, the viability of enterprise and the cash flow matching. The study has found that the main reason why business models affect the viability of enterprises is that different business models need different cash flows to match. Only when the business model matches the cash flow of the enterprise can the enterprise viability be improved. Finally, a theoretical framework path on the impact of the matching degree of different business models and cash flow on the viability of enterprises is constructed. The research conclusions not only provide a theoretical basis for explaining the impact of business models on the viability of enterprises, but also make up for the shortcomings of existing theories. At the same time, this study also provides theoretical and practical guidance for enterprises to choose business models, strengthen cash flow management, and improve enterprise viability.

The key to digital transformation of manufacturing enterprises lies in building new digital capabilities. Currently, there are insufficient researches on the mechanism of building digital capabilities in academia. Using an exploratory single-case study approach, based on resource orchestration theory, this paper explores the building mechanism of digital capabilities in manufacturing enterprises with weak digital resource bases. The research found that: Firstly, different digital strategies and resource conditions drive manufacturing enterprises to adopt appropriate resource orchestration combinations. Corresponding to tool-level, process-level, organization-level, and ecology-level digital strategy, manufacturing enterprises adopt agglomerative, collaborative, integrated, and enabling resource orchestration. Secondly, differentiated resource orchestration combinations promote the rapid construction and evolution of digital capabilities. The single-point breakthrough stage builds up a digital capability point through the resource-capability transformation mechanism. The process interconnection stage develops into a digital capability chain through the resource-capability transformation mechanism and capability-capability replication mechanism. The network integration stage evolves into a digital capability portfolio through the resource-capability transformation mechanism and capability-capability expansion mechanism. The ecological synergy stage converges into a digital capability system through the resource-capability transformation mechanism and capability-capability out-migration mechanism. This study enriches the research on digital capabilities and provides reference for the digital transformation practice of manufacturing enterprises.

Rapid changing environment intensifies the risk of technological innovation in technology-based enterprises. Enterprises need to build a brand new risk control model of technological innovation, which combines “flexibility” to rapid changing environment and “rigidity” of management and control. In this paper, incomplete contract theory is embedded into traditional risk control theory. Through the situational research on the unique risk control model of Sinodata, detailed process of building a “rigid” and “flexible” risk control model is unlocked. Specifically, enterprises should first sink the risk control unit to form a “virtual small and micro enterprise”, so as to speed up the response to environmental changes, obtain the “flexibility” of risk control, and maintain the necessary financial “rigidity” through performance certification. After that, enterprise should reengineer the risk control structure into “multi-level alliance”: On the one hand, it increases structural “flexibility” through dynamic adjustment; on the other hand, it embeds new rules to stabilize the internal relationship, which not only ensures the “rigidity” of management and control, but also achieves the fault-tolerant “flexibility” for innovation failure. Finally, this paper constructs a new technology innovation risk control model, namely “virtual small and micro enterprises + multi-level alliance” model. This paper not only extends risk control theory based on essential characteristics of technological innovation, but also contributes to the incomplete contract theory.

With the continuous development of capital market in China, the financial tool of share repurchase has gradually been accepted and used by domestic listed companies. In 2018, Article 142 of the Company Law related to the share repurchase system was specially revised to further loosen restrictions on share repurchase. The domestic capital market set off a wave of share repurchase, and the phenomenon appears to go on. Is the continuous share repurchase of listed companies trying to strengthen the signal transmission, or is it trying to hide the truth and confuse the public? Taking Giant Network's three consecutive share repurchases from 2018 to 2021 as the example, this study finds that its continuous share repurchase is confusing to a certain extent and conceals the motivation for the repurchase. The research findings play a positive role for companies, investors, and regulators in using and managing continuous share repurchases.

Debt financing is an important means of capital replenishment for late-developing firms to catch up and surpass, and achieving catch-up depends on firms' opportunity grasp and innovation breakthroughs. Based on an exploratory case study of Hikvision, a theoretical framework is built, which is helpful to explain the dynamic evolution between the debt financing decisions of latecomers in terms of technological opportunity windows and corporate innovation cycles. In this framework, there is a life cycle for the technology opportunity window, which includes three stages from opening to closing - identification, entry and expansion. In the technology opportunity window, debt financing decisions and enterprise innovation have a cycle and stage consistency, i. e., they evolve in the technology opportunity window as a cycle and adopt the innovation strategy according to the stage of the opportunity window. Further, a three-stage model of debt financing decision, i. e., exploratory debt financing decision, adaptive debt financing decision and breakthrough debt financing decision, is refined, and there is an interaction between debt leverage and short and long term debt uses.

In the era of digital economy, the construction of brand ecosystem provides a strong support for the sustainable development of brands, but the research on the internal mechanism of its formation is insufficient. Based on the dynamic capability perspective, Renhe Group is selected as the research object, and the formation process mechanism of the brand ecosystem is summarized through the vertical deconstruction of its years of brand development history. The research found that: (1) the brand ecosystem is essentially a closed loop open ecosystem based on digital technology platform, with close cooperation of multiple stakeholders and collaborative development of brand groups; (2) the formation process of a brand ecosystem will experience the growth characteristics of “point — line — plane”, which includes “cultivating the brand core circle (market disruption) — developing the brand industry circle (industry chain integration) — forming the brand ecosystem (value co creation)”; (3) in the process of forming the brand ecosystem, the dynamic capabilities of enterprises show the evolution of core capabilities such as “market breaking ability — industrial chain integration ability — value co-creation ability”. The theoretical framework finally formed in this paper can provide some reference for the construction of enterprise brand ecosystem in the era of digital economy.

The case action learning method can effectively integrate the advantages of the case teaching and action learning, guide MBA students to enter the organizational context, learn tacit knowledge, and then deepen their understanding and reflection of organizational issues so as to effectively improve their abilities to solve practical business problems. This study first examines the advantages of the case action learning method, analyzes its operation logic and tacit knowledge learning principles. Secondly, the teaching process of Human Resource Management is described with the SECI knowledge management model and the PDCA cycle, and the teaching process model of the case action learning is constructed. Finally, we point out some problems that need to be paid attention to in the application of the case action learning method. This research may contribute to the promotion of case action learning in the teaching of master’s degree in business administration and the construction of a case study system.

As the absolute size of the middle-income group increases, there is also a phenomenon of “slipping” within this group. Previous studies on the middle-income group often focused on income distribution systems and human capital. Through a case study of Meituan, we discovered that the root cause of this “slipping” lies in the blurred scope of ecological member rights and responsibilities, and that stability relies on platform governance. Meituan, as a company in a dominant market position, avoids employment responsibilities by utilizing a flexible labor model enabled by market imbalances and algorithmic technological support. However, this labor relationship is not stable or sustainable. Takeout riders resist “slipping” through self-empowerment、 maintaining their agency and adopting a multi-faceted strategy. Research has shown that government participation in formulating social security measures、 platform anti-monopoly actions and empowering diverse stakeholders can block the downward “slipping” channel for takeout riders. The “slipping” of takeout riders serves as a classic case study in constructing an olive-shaped social structure and holds positive implications for improving the governance structure of national platforms and promoting shared prosperity.

In the digital network era, brand equity is being developed in a new scenario, and there is a lack of systematic analysis on how to enable multiple stakeholders to co-construct brand equity in a highly open and loosely coupled complex network environment. Aiming at constructing a brand equity co-creation path model from a dynamic and systematic perspective, this article adopts an exploratory case study approach, taking Taobao as research object, and exploring the driving factors and mechanisms for brand equity co-creation under the new scenario and the co-creation process and collaborative mechanisms among multiple stakeholders at different network levels. This article expands the scenario of brand equity co-creation research, reveals the “black box” of brand equity construction based on an open and complex network system, and provides theoretical insights and practical reference for enterprises to construct brand equity together.

Under the background of “dual carbon”, how to carry out digital transformation has become an urgent problem to be solved in the pursuit of low-carbon development. In this regard, this paper mainly adopts the resource orchestration theory to carry out a longitudinal case study of Weiming Environmental Protection Intelligent Sanitation Project, which attempts to explore the process mechanism of enterprises from resources to capabilities to sustainable competitive advantages. The research results show that: (1) a round of resource orchestration process of an enterprise can be abstracted as “scattered resource elements — resource structuring — digital empowerment — value leverage”. On this basis, the staged output will be combined with the external dynamic environment, and fed back to a new round of resource structuring in the form of reconstructed elements, so as to achieve the digital transformation through iterative arrangement, in this process the enterprise's low carbon development can also be promoted. (2) low carbon management capability at the organizational level is also a key factor in the whole process of connecting digital resources arrangement. Managers can achieve more green resource management through the redeployment of low carbon resources.

This paper selects the acquisition of FMDRC by Luoyang Molybdenum as the research object, and studies the application premise, method and result of Earnout in the M&A of resource-based enterprises. The results show that Earnout is a bargaining tool that regards “differential revenue sharing” as the core category in the M&A process of resource-based companies. Its application path is based on the differences in asset pricing between the two parties of the M&A as a starting point by setting terms with different trigger difficulties to distribute the expected income in advance, and redefining the contract consideration as a pricing range with controllable upper and lower limits that reflects the expectations of both parties, thereby setting aside the pricing differences between the two parties for the time being. Further analyses find that compared with the mainstream application scenarios, such factors as the completely different risk composition and the follow-up role of the protocol content are the main reasons for the changes in its application premise, method and results. The research results of this paper expand the application scenarios of Earnout, and provide reference and inspiration for its specific application in business practice.

In the context of sustainable development, it is important to discuss the issue of how venture capital affects the corporate social responsibility (CSR) of invested companies. The article adopts a grounded theory method to explore the motivations, actions and results of venture capital investment on the social responsibility behaviors of invested companies, with three venture capital institutions and two financing enterprises as research objects. The study finds that the primary motivation for venture capital to influence the social responsibility behaviors of portfolio companies comes from the difference of interest motivation between them, followed by the differences of reputation motivation and resource motivation. This influences the setting and practice of CSR strategy through four key ways, that is, participation in the strategy, corporate governance, invest supervision and business operation of portfolio companies, among which invest supervision and business operation are the primary and secondary ways, respectively. The ultimate impact is on the rights and interests of shareholders, customers, suppliers, competitors and the public, with the greatest impact on shareholders' rights and interests but not on employees' rights and interests and environmental responsibilities.

Organizational change is a process of overcoming organizational inertia and forming the new inertia. However, few researches have explored the internal process of organizational change and the mechanism of organizational inertia from the perspective of organizational inertia, which makes it difficult to make the “black box” of organizational change process obvious. Based on the three-stage model of “thawing → changing → refreezing”, this study uses a single-case study method to explore the mechanism of organizational inertia in the process of organizational change based on the extraction of several leading inertia in the process of organizational change in Ping An Bank. The results show that: (1) the mechanism of organizational inertia is closely related to organizational change stages. Organizational change in the thawing stage is a gradual process of overcoming cognitive inertia from top to bottom. Organizational change in the changing stage is a top-down process of overcoming the inertia that hinders the change and transforming the antecedents of the inertia to accumulate the new inertia. Organizational change in the refreezing stage is a process of reinforcing new inertia from top to bottom as well. (2) the three vertical layers of “strategy-management-execution” show different forms of dominant inertia respectively. Organizational inertia conducts vertically from top to bottom at the management level and interacts with each other. (3) organizational inertia has a specific manifest order and transmission mechanism in the dimensions of time and management of organizational change.

The new rules on refinancing have significantly increased the number of listed companies that use targeted issues to supplement liquidity. However, the subscription of targeted issuance by major shareholders to supplement liquidity is not necessarily used for the rescue of listed companies. Taking Ningbo Huaxiang as the research object, this paper analyzes the motivation of major shareholders to subscribe for and supplement the liquidity oriented targeted issues from the perspective of liquidity, changes in equity structure and equity pledging behaviors, and further analyzes the realization path of its high discount rate based on the new refinancing regulations. It is found that the supplementary liquidity targeted issue is not necessarily used to alleviate the liquidity tension of listed companies, but becomes the “optimal way” for major shareholders to increase their shareholding and control. The timing and abnormal cash dividend payout in the process of the targeted issue are the path to achieve the high discount rate. The use of cash dividends to lower the issue price is a transfer of interest by major shareholders. The revision of the system is the deep-seated reason for major shareholders to choose liquidity-supplementing targeted issuance to achieve their purposes.

In the context of digitalization and intelligent empowerment, the digital technology is constantly reshaping the organization’s business ecology and value creation methods. Whether a co-working enterprise can complete its transformation under the impact of market risks has become the key to enterprise development. This paper adopts inductive case studies and analyzes how the digital intelligence economy empowers various value co-creation entities to realize value sharing based on the perspective of redundant value sharing, and constructs a theory of resources-value-services analysis framework. The research finds that: In the initial development stage, the enterprise reflects value creation through redundant resource allocation and value creation. In the industrial chain process development stage, the enterprise forms value co-creation through the integration and optimization of redundant resources. In the community ecological development stage, the value sharing is reflected by expanding the scale of clients and increasing the ability to integrate innovative resources. This paper finally realizes the spiral dynamic evolution mechanism of the business service ecosystem, and the ideal state of internal and external symbiosis, sharing and win-win. This research has important practical inspiration for co-working that intends to change the service system to achieve sustainable development.

Consumption is the process of using social products to meet needs, and is also one of the sources of happiness. Under the background that happiness has become the core concept of modern development, deepening and refining consumer happiness has become an important research topic. Through a qualitative analysis, the results show that the words used by Chinese consumers to express their happiness of consumption are not only pleasure and joy, but also “good”, “gratitude” and “relax”. The desire for consumption that has not yet occurred will bring about consumer happiness in the stage of demand generation. In the evaluation and decision-making stage, self-awareness such as self-monitoring reflects the good quality of “introspection” of Chinese people, which also affects people's decision-making and happiness. In the process of consumption experience, the ultimate consumption goal of Chinese consumers is to enhance the harmony of existing relationships, and expand new social relationships. Self-cognition and self-experience in consumption also contribute to happiness.

Existing research on entrepreneurial legitimacy focuses more on how firms obtain legitimacy and ignore the legitimacy repair process of legitimacy-losing firms. The study takes the process of creating Live Company D by Education Enterprise X as an example, bases on the optimal distinctiveness perspective, researches on the re-entrepreneurship process and mechanism of enterprise legitimacy repair. The main findings are as follows: (1) the legitimacy repair process of legitimacy loss enterprises consists of three stages. First is the legitimacy loss stage, which adopts the strategy of passive response, and is ineffective. Second is the legitimacy response stage, which is based on the industry level to take an active response strategy, with little effect. Third is the legitimacy repair stage, which is realized by adopting an energetic repair strategy from the re-entry mechanism. Passive and active responses focus on legitimacy, and the energetic repair stage repairs legitimacy by introducing uniqueness. (2) the legitimacy mechanism is “re-entrepreneurship”, whereby the enterprise achieves legitimacy repair by leapfrogging from low uniqueness to high uniqueness through optimal differentiation while constructing uniqueness beyond that of the industry. The theoretical contribution is to clarify the difference between legitimacy repair and traditional legitimacy acquisition and to provide new evidence on the balance of optimal distinctiveness. This study also provides practical references on how legitimacy-losing firms can engage in legitimacy repair.

Based on the value chain theory and the development characteristics of intelligence, this paper takes two manufacturing enterprises of Shenyang Machine Tool and Haier Group as the research objects, and the value chain climbing path and power under the intelligent transformation of enterprises are investigated from two perspectives of value creation and competitive advantages, and in four dimensions of innovation, extension, differentiation advantage and cost advantage. The results show that, firstly, in the process of intelligent transformation of a manufacturing industry, the dimension of value creation in the climbing of enterprise value chains develops from innovation to extension, and there are horizontal stretching and vertical leaping climbing modes at the same time. Secondly, the climbing path of the manufacturing value chain is technology leading-competitive advantage-value creation. Driven by innovative technologies, enterprises can diversify their competitive advantage and promote new value creation in the value chain. Thirdly, in the process of intelligence, the main driving force for the rise of the value chain is reflected in independent innovations. The core R&D technologies can drive enterprises to achieve sustainable competitive advantages and added values, so as to realize the high-end rise of the value chain.

The new entrant disadvantage of entrepreneurial firms requires them to innovate their business models to achieve sustainable survival and development. However, the uncertainty and dynamics of these firms' own growths and the external environments pose great challenges to business model innovation. This study believes that entrepreneurs, as managers and decision makers of entrepreneurial enterprises, can give full play to the subjective initiative at the cognitive level in the process of business model innovation to deal with this challenge. Therefore, this paper explores the mechanism of entrepreneurial cognition to promote business model innovation under the dynamic change of entrepreneurial situations and finds that: (1) entrepreneurs' cognition will produce adaptive changes based on changes in the entrepreneurial situation, showing an evolutionary path of experience/opportunity—demand/market—knowledge/technology. (2) entrepreneurs' cognition shapes the collective understanding and organizational behavior of enterprise consistency based on the process of cognitive and structural imprinting. (3) business model innovation is the result of entrepreneurs changing their own cognitive processes according to environmental feedback, showing a change in the innovation level of content-structure- governance. This research analyzes the micro-mechanism of an entrepreneur's cognition to promote business model innovation in the dynamic change of entrepreneurial situations, and provides practical enlightenment for entrepreneurial firms to realize their growth through business model innovation in dynamic situations.

With the continuous development of internet technology, the healthy development of platform economy and platform firms is of great significance to solve industrial transformation, employment, and other issues. In view of the continuous problems of platform governance in practice, how the attributes of platform enterprises could be used to improve the current governance model and explore governance strategies has become an important issue at the present stage. Therefore, by reviewing the existing literatures on platform governance, we clarify the concepts and characteristics related to platform governance. We summarize the research perspective on platform governance from the perspectives of industrial organization economics, strategic management, technology management and external supervision. We compare quantitative, qualitative and mixed research methods separately. In doing so, we propose future research directions.

Breakthrough of key core technologies in manufacturing enterprises is an urgent issue for China to build a world power in science and technology. Based on the theory of self-organization, the manufacturing enterprises are regarded as self-organization system and placed in the innovation ecosystem. Taking Shangshang Cable Group as an example, this study illustrates the self-organization breakthrough path of key core technologies in manufacturing enterprises through the evolution process, key driving forces and interaction with resources in the ecosystem. It is found that the development of key core technologies is a dynamic process of key demand guidance—high investment of capital, equipment and talents—continuous accumulation of core capability—breakthrough of key core technologies. The sequential parameters to realize breakthrough of key core technologies are core leaders, key technical talents and incentive systems, continuous quality management and governance structure changes. The interaction of enterprises with other parts in the innovation ecosystem shows a transformation from empowerment to aggregation. The conclusion can provide practical insights into the breakthrough of key core technologies for Chinese manufacturing enterprises.

In order to maintain good business performance in the increasingly competitive digital era, enterprises need to use market orientation to meet the potential or existing needs of customers. Existing researches have found that dynamic capability can play a role in strategic change when meeting market demand, prompting enterprises to adjust strategies in time, develop new core competitiveness, and thus improve performance. This paper uses two cases to analyze how different market orientations affect enterprise strategic performance through dynamic capabilities. The results show that: (1) market orientation affects enterprise strategic performance by adjusting three dimensions of dynamic capability; (2) different market orientation has different effects on the enterprise strategic performance and the enterprise strategic performance is better under the proactive market orientation; (3) under different market orientation, enterprises adopt different dimensions of dynamic capability. Under proactive market orientation, enterprises pay more attention to continuous iterative innovation ability to meet the potential needs of customers, while under reactive market orientation, enterprises pay more attention to continuous improvement of sales ability to meet the existing needs of customers.

The corporate social responsibility of platform-based enterprises is crucial to promoting social and economic development. However, it shows a new model which is difficult to explain by the traditional perspectives and theories of company social responsibility. Using the multi-case study method, this paper finds five characteristics of platform-based enterprises in fulfilling their social responsibilities through coding and analyzing the social responsibility practice activities of China's top 100 internet enterprises in 2019: (1) the CSR content boundary is blurred, and the percentage of innovative CSR based on economic responsibility is high; (2) the CSR subjects are diverse, relying on responsibility-oriented platform leadership to perform differentiated management of different responsible subjects; (3) the scope of CSR object is broaden and balance the interests of different responsible objects; (4) the CSR paradigm is established in enterprise itself and the overall social resources, with more diverse and innovative modes; (5) the CSR strategic framework is prominent and the content system is complete.

How to improve the comprehensive abilities of managers through case teaching, while being able to distill and summarize the excellent management practices in China in the form of cases, has become a trend in the development of education in the field of economics and management. However, with the diversification of teaching knowledge transfer and the requirement of multi-level education, the form of teaching cases and the way of learning have presented diversified and all-round innovative features. This paper first analyzes the current research status of case teaching in management disciplines in China, and explores the theoretical foundation supporting teaching cases, analyzing the types of knowledge (including declarative, procedural and constructive knowledge) transmitted by the case teaching process from both ontological and constructive perspectives. In addition, the organizational forms and scenarios of case learning are discussed from the perspective of learning communities, a case learning community with multiple subjects such as students, teachers and entrepreneurs is constructed by combining the above theories, and the three levels of case teaching distinguished by the transfer of knowledge are described specifically. Finally, the paper presents that the three types of knowledge correspond to the formation and teaching mode of the three types of teaching cases. The paper analyzes the teaching process of developing and practically applying micro-cases, decision cases and composite cases in four stages, namely, observation, communication, formation and application, in order to provide references for case teaching in higher education of economics and management disciplines.

Starting from SMEs, this paper explores the micro-foundations of the dynamic capabilities in SMEs under the influence of external environment. Based on Teece’s dynamic capability research framework and a comparative analysis of multiple cases, this paper extracts the first and second dimensions of the stable dynamic capability, summarizes its third dimension under different environmental factors, and concludes that the micro-foundation of SMEs is affected by the the variability of market and industrial technologies. The research conclusion provides evidence for the construction of the dynamic capability theory of SMEs, and directly supports its scale development and related research of emerging economies. The study provides a strong theoretical basis for SMEs to cope with the complex and dynamic external environment.

Against the backdrop of China's vigorous development of the real economy, the growth of industrial parks has also garnered significant attention. Industrial park asset securitization products experienced explosive growth in 2018, but they are still in an exploratory stage and face a large default risk, which needs to be continuously improved. This paper selects the first defaulted industrial park asset securitization product in China, the Peking University Science Park Commercial Real Estate Mortgage-Backed Loan Support Notes as the research object. Based on the original shallow risk identification and risk mitigation design in Peking University Science Park's asset securitization products. Firstly, this paper conducts in-depth risk identification. It employs quantitative analysis using the KMV model to assess risks. Secondly, put forward a complete risk coping method. Finally, the risk adjustment method is used to evaluate and adjust the existing risks, evaluate and identify the unknown risks, and then build a complete risk management closed-loop mechanism. It is expected to provide useful reference for other enterprises to avoid financing risks, so as to better allow financial services to serve the real economy and promote the steady and long-term development of the real economy.

Based on the literature on entrepreneurship and innovation ability, basic constructs for the qualitative analysis on entrepreneurship and innovation ability are extracted. Through the in-depth interview with 47 students and teachers coming from 17 teams which have participated in the case analysis competition, this pater summarizes 10 constructs for cultivating students' innovation ability and entrepreneurship and further extracts 3 core competence categories. From the perspective of core competence category, case analysis competition is more effective than classroom case teaching in the cultivation of students' innovation ability and entrepreneurship. At the end, this paper provides some suggestions for the university to guide students to participate in enterprise case analysis competition.

Regional brand building has gradually become one of the ways for each region to obtain resources and enhance its competitiveness. While current studies emphasize the influence of regional brand building on a local level, there is a lack of research on the acquisition of resources and the process involved in regional brand building. Based on the brand and resource leverage theories, this paper selects Wugong County as the study object to investigate the process of regional brand building through interaction with various subjects, in order to mobilize resources and promote regional brand development. In this paper, the building process of regional brands is divided into three periods of incubation, growth and maturity. In each period, the power point, fulcrum, labor saving and dynamic process are different. Additionally, this paper considers the digital intelligence as an important influencing factor and discusses how it can empower the regional brand building. This study can help promote a better understanding of the key factors in building regional brands and highlighting the important role of brand and resource leverage.

School of Economics and Management, Dalian University of Technology, Dalian 116024, ChinaThis paper adopts the method of exploratory case studies, aiming at the problem of how to accomplish value co-creation efficiently and orderly in the industrial internet platform ecosystem, and selects 1D1D as the case object. We summarize the successful practices of the platform ecosystem established by the case enterprise, focus on platform and dynamic capabilities, and analyze the evolution model of value co-creation around the three elements of “inducement-process-result”. The research has shown that the evolution process of value co-creation can be divided into the initial stage of linear empowerment, the development stage of collaborative realization and the mature stage of reverse customization. The dimensions of platform and dynamic capabilities show different characteristics in different stages. This study provides a corresponding management practice inspiration for the growing platform business ecosystem on how to continuously gain competitive advantage through various elements, and how to plough the industrial internet field and carry out value co-creation activities.

How can manufacturing enterprises need to successfully build service-oriented competitive advantages in the increasingly competitive market environment? Based on the perspective of key enterprise resources and unique enterprise capabilities, this paper takes three typical manufacturing enterprises in China as research objects, adopts a multi-case study method and the grounded theory coding technique to establish a conceptual model based on the framework of “enterprise key resources - enterprise unique capabilities - competitive advantage” is established. The research results show that: The strong path dependency and social network organization of key resources are the important cornerstone for manufacturing enterprises to build the service-oriented strategic competitive advantage. And the unique enterprise capabilities, which are formed on top of the above key resources, are the direct influencing factors for manufacturing enterprises to successfully build service-oriented competitive advantages. At the same time, the upholding of the customer service-oriented values of the internal management and staff of the organization has a positive strengthening effect on the promotion of the unique capabilities of the enterprises that affect the construction of the service-oriented strategic competitive advantage.

As one of the core teaching methods in business schools, case teaching method has been widely applied in domestic and international business education. Accordingly, case collecting and writing has attracted more and more academic attention from business professors. Nevertheless, the existing literature has revealed an emerging but dissatisfyingly inadequate empirical study on case collecting and writing reasonableness and case teaching effectiveness. Based upon a comprehensive literature review, from the perspectives of teachers and students, this paper aims to develop an evaluation metric measuring case writing rationality and case teaching effectiveness via quantitative and qualitative approaches, and conduct the verification with factor analysis. The results indicate that the metric for the former includes such 6 dimensions as the clarity of teaching objective, typicality of case selection, the logic of case story, the attractiveness of case plots, the matching of questions with theories and knowledge, and the openness of case questions. The metric for the latter comprises of theoretical knowledge, practice & experience, and problem-solving skills. This research provides an appropriate tool to measure case collecting and writing, and offers new perspectives for future pedagogical research.

The emission reduction and efficiency enhancement of heavy pollution industries are extremely important for high-quality economic and social development. However, many heavily polluting enterprises are faced with resource constraints and capacity constraints such as capital and talents in the process of transformation and upgrading. This paper researches the significance and mechanism of horizontal mergers and acquisitions for reducing emissions and increasing efficiency in heavily polluting industries by analyzing the integration process after Baowu’s merger with Shaogang. It shows that the acquirer can improve the technology capability of the acquiree through capital input and technology collaboration, and improve the management capability of the acquiree through talent input and business collaboration, so as to ease the resource and capacity constraints faced by the acquiree and achieve emission reduction and efficiency increase. So it has a competitive advantage in environmental protection and business. Finally, it can consolidate this advantage of the merged enterprises through the rational use of the economic benefits of mergers and acquisitions. At the same time, the acquirer can also share the economic benefits and technological innovation achievements of the acquiree. So both the acquirer and the acquirer can move towards high-quality development.

Using an exploratory longitudinal case study method, based on the theory of sensegiving, this study discusses the process and mechanism of family culture promoting social entrepreneurial persistence in family businesses. The result shows that: (1) specific family cultural connotations are the main driving force behind the persistence of family businesses in social entrepreneurship; (2) the process of family business social entrepreneurship includes three stages: The stage of unique family culture construction, the stage of corporate social mission construction, and the stage of corporate social mission penetration; (3) the universality of Confucian family ethics and values, the pursuit of socio-emotional wealth by family businesses, and the guidance of family culture are the driving mechanisms behind the above process; (4) the micro-mechanism for the gradual development of the three stages lies in the adoption of emotional, analytical, and immersive sensegiving strategies by family managers, shaping family entrepreneurial inclination of family members, the social entrepreneurial inclination of decision-makers, and the social entrepreneurial inclination of employees. The study explores the value and corresponding management strategies of family culture in promoting social entrepreneurial persistence, and provides practical insights for enterprises to achieve social entrepreneurial persistence.