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Digital transformation misalignment refers to disparities in digital transformation levels between suppliers and buyers across the production and operation process. It has negatively affected supply chain stability. However, the existing research concerning the economic consequences has not been adequately addressed. Therefore, this paper aims to investigate whether such digital transformation misalignment increases supplier financial risk and to identify the factors influencing this relationship.

This paper examines binary combinations of suppliers and buyers listed on China’s A-share market between 2011 and 2021. This group constitutes a sample to empirically test the influence of digital transformation misalignment on the supplier’s financial risk, as well as the moderating effect of the geographical and organizational distances.

The paper’s findings demonstrate that digital transformation misalignment has indeed a significant increase in the supplier’s financial risk. Moreover, the impact is more intense when the geographical or organizational distance between the supplier and the buyer is relatively large.

The existing literature rarely explores the potential risks arising from digital transformation misalignment between supply chain partners. Therefore, this paper fills a notable gap as it is the first to study the impact of digital transformation misalignment on the supplier’s financial risk and the specific applied mechanisms. The contribution significantly improves the field of corporate digital transformation, particularly, within the context of supply chain management.

This study aims to examine the effect of digital fashion marketing on consumer purchase intentions. Rooted in the stimulus–organism–response framework, it explores how digital marketing strategies in the fashion industry influence consumer attitudes and satisfaction, ultimately affecting their purchasing decisions.

It is mainly focused on the attitudes, satisfaction, and purchase intentions of young consumers in China and South Korea toward fashion brands stimulated by digital fashion shows and non-fungible tokens. This study modifies the research model through case studies, collects data through questionnaires, and analyzes the data using fsQCA and AMOS.

The findings of the fsQCA study show that stimuli impact consumers’ attitudes, satisfaction, involvement, and willingness to rewatch. The multigroup analysis shows that social norms and images have a greater influence on individuals in China, whereas Korea has a higher direct effect of individual involvement on consumption behavior.

The study is useful for global fashion brands because it emphasizes the role of digital innovations in shaping consumer–brand relationships and makes strategic recommendations for sustainable growth in the digital fashion landscape.

This study attempts to uncover the nonlinear relationship between public procurement and corporate total factor productivity (CTFP), and investigates the mediating roles of R&D investment and rent-seeking cost. Additionally, it conducts a heterogeneity analysis for firms with varying levels of political connections and corporate social responsibility (CSR).

Employing Ordinary Least Squares (OLS) and Olley-Pakes (OP) methods, the authors gauge CTFP and manually identify government customers to quantify public procurement. Leveraging panel data from Chinese listed companies, this study explores the relationship between public procurement and CTFP.

This study unveils a U-shaped relationship between public procurement and CTFP, highlighting R&D investment and rent-seeking costs as potential mechanisms. Furthermore, it identifies heterogeneous effects among companies with varying levels of political connections and CSR on the relationship between public procurement and CTFP, including their mediating effects.

This research enhances understanding of demand-side policies and provides crucial insights for the government to further improve public procurement policies.

By offering empirical evidence of how public procurement impacts CTFP, this paper enriches the literature on the behavioral repercussions of public procurement and the determinants of CTFP. It also overcomes the “black box” of the mechanism between public procurement and CTFP, based on the government’s dual role as a pathfinder and customer of enterprises. It broadens the application scenarios of institutional theory and principal-agent theory. Additionally, the heterogeneity analysis of firms with varying political connections and CSR extends the frontiers of related research.

Technology innovation in enterprises is a powerful driver of national competitiveness and sustainable corporate development. At the same time, the regional innovation policy mix serves as a core factor at the macro level, guiding and influencing enterprise technology innovation. Therefore, this paper addresses a critical question in innovation studies: the impact of the regional innovation policy mix complexity on enterprise technology innovation. Additionally, we also investigated the internal mechanisms and boundary conditions within this framework.

A dual-mode network model of local government-regional innovation policy is developed to capture the complexity of the regional innovation policy mix. The complexity index is calculated iteratively using the R language. The paper employs quantitative and empirical analysis, drawing on a sample of 622 regional innovation-related policy documents from 31 Chinese provinces (municipalities and autonomous regions).

The results reveal an inverted U-shaped relationship between policy mix complexity and enterprise technological innovation. The analysis further shows that university-industry cooperation intensity mediates this relationship, while regional knowledge absorptive capability moderates the impact of regional innovation policy mix complexity on enterprise technological innovation.

This paper highlights the influence of regional innovation policy mix complexity on enterprise technological innovation and underscores the role of university-industry cooperation intensity and regional knowledge absorptive capability. The findings offer valuable insights into the dynamics of enterprise innovation and inform effective government policy governance for fostering innovation.

Environmental, social and governance (ESG) greenwashing is a form of social responsibility response that appears compliant but is substantively oppositional. As an abnormal social behavior, existing research has rarely focused on the deep-seated strategic logic behind ESG greenwashing. Business strategy emerges as the linchpin for companies undertaking a series of decision-making actions. Consequently, this research seeks to provide new insights into the strategic drivers behind corporate greenwashing and the role of institutional investors in mitigating these practices.

The research utilizes empirical analysis based on data from Chinese A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2010 to 2022. ESG performance data is sourced from the Bloomberg ESG Disclosure Ratings and Thomson Reuters’ Asset4 database. Business strategy is assessed using six key indicators. The study employs institutional theory as the analytical framework, examining the impact of business strategy on ESG greenwashing and investigating the internal mechanisms driving these behaviors.

The study finds that compared with defender strategies, prospector strategies are more likely to lead to ESG greenwashing behavior. Specifically, aggressive business strategies tend to facilitate corporate ESG greenwashing. Mechanism analysis indicates that, compared to defenders, prospectors induce ESG greenwashing by increasing information asymmetry (reputation effect) and being constrained by financing limitations (profit-seeking effect). From an external governance perspective, this study finds that institutional investor ownership can mitigate the impact of business strategy on ESG greenwashing. Furthermore, additional research confirms that in heavily polluting industries, the positive effect of business strategy on ESG greenwashing is more pronounced, whereas implementing the Environmental Protection Tax Law curtails the impact of business strategy on ESG greenwashing.

This study analyzes the role of business strategy in ESG greenwashing, particularly in the context of emerging economies such as China, contributing uniquely to the literature on corporate decision-making and green management. The research extends the application of institutional theory to the field of corporate environmental strategy and introduces the concepts of reputation and profit-seeking effects, offering fresh perspectives on understanding ESG greenwashing behavior. It also provides empirical evidence of the governance role of institutional investors in addressing managerial opportunism related to ESG greenwashing, enriching the existing theoretical framework. Finally, the study highlights the need to establish stronger institutional and managerial mechanisms to effectively tackle corporate greenwashing, offering valuable insights for future research and practice.

Adding Pd element to Au wire can improve the reliability of Au-Al bonding, but the mechanism of Pd element has not been well revealed so far. The purpose of this study is to reveal in more detail the mechanism of the role of Pd elements in Au/Al bonding.

In this paper, the microstructure changes and tensile data of 99.99% (4N) gold wire and 99% (2N) gold wire with 1 at % Pd were compared through high-temperature thermal aging treatment of the specimens, so as to explore the influence mechanism of Pd element on Au-Al bonding reliability.

The addition of Pd element effectively reduces the thickness of intermetallic compounds (IMCs) layer and strengthens the fracture tension and reliability. Compared with the 4N specimen, the average thickness of the IMCs layer of the 2N specimen under the same conditions is reduced by 1 µm, and the tensile value of the 2N specimen is increased by 1−3 g. Stored at 200°C for 200 h, the failure rate of bond point of 4N specimen reached 94.64%, and that of 2N specimen was 20%, with a difference of 4.73 times.

Through comparative analysis of the data, this study found that the doping of Pd element in Au-Al IMCs in the early stage slowed down the growth rate of the IMCs, and the precipitation of Pd element in the late stage to form a better Pd-rich layer hindered the element mutual diffusion behavior between Au and Al.