Taking NJTC as the research object, the study explores the dynamic evolution of policy-induced burdens and financial distress. The results show that: First, excessive policy-induced burden will distort enterprises’ financial behaviors, leading to over-investment and over-indebtedness, and ultimately resulting in financial distress. Second, the government will provide support for enterprises that fall into financial distress due to undertaking policy-induced burdens. Third, the complete reversal of enterprises’ financial distress depends on the mitigation of policy-induced burden. The research results reveal the hidden political factors behind the formation and reversal of enterprises’ financial distress, which not only helps to deepen the understanding of the government-enterprise interaction relationship in the context of transitional economy, but also provides pragmatic insights for practical engagement between enterprises and the government.

Under the background of high-quality development, the transformation of enterprises from single-business providers to system service integrators has become an important approach for enterprise to extend their operations toward the high end of the value chain and cultivate new quality productivity with international competitiveness. In this process, the focus has shifted to how enterprises can effectively leverage and extend their existing business capabilities to build comprehensive architectural capabilities that align with transformation requirements. Grounded in a composite-based view, this paper selects system integrators as case study objects and employs the comparative case study method to explore the capability leap path for enterprises transforming into system integrators. The findings reveal two typical paths—technology-driven and management-driven—in the formation process of system integrators’ architectural capabilities. Enterprises taking the technology-driven path are guided by modular professional capability. Through restructuring, standardization and feedback, they achieve point-to-plane horizontal expansion of management capabilities, and ultimately build composite architectural capabilities. Enterprises adopting the management-driven path take modular management capabilities as a tool. Through replication, docking and overall linkage of radiation, they continuously advance professional capabilities vertically, and finally form composite architectural capabilities. Both paths can realize the leap of organizational composite architectural capabilities through the dual modularization of business and organization. The research results make up for the theoretical gap in existing studies regarding the construction process of architectural capabilities. Meanwhile, starting from the dual modularization process of business and organization, this study provides an innovative theoretical explanation for the capability leap path of architectural capabilities, and also offers valuable insights for the practice of Chinese enterprises’s transformation toward system integrators.

SRDI enterprises are a core underpinning for advancing China’s high-quality economic development, enhancing the resilience of industrial and supply chains, and accelerating the formation of new productive forces. The urgent issue that needs to be addressed is how to cultivate and enhance their growth resilience. By constructing a research framework based on TOE theory and conducting a comparative analysis of dual case studies, this research explores adaptive pathways for the resilient growth of SRDI enterprises. Findings reveal that for SMEs engaged in component R&D under non-self-reliant models, individual enterprises struggle to complete the entire operational cycle from R&D to sales. Multi-stakeholder collaboration emerges as an effective growth pathway, aligning with the constellation network development model. Their growth trajectory exhibits characteristics of “exploratory innovation” “iterative optimisation and collaborative development” and “shaping leadership”. For SMEs operating under a self-reliant model that integrate R&D, production, and finished product sales, growth is directed by leaders through top-down divergent thinking. Adapting to a spider-web cultivation development model path involves integrating technological, product, and market elements to break monopolies, expand potential market space, and achieve value extension and diffusion-driven growth. Their development process exhibits characteristics of “developmental innovation” “balanced development” and “strategic new business models”. By clarifying and categorising the numerous factors influencing the cultivation and development of SRDI enterprises, this approach broadens the pathways for nurturing such enterprises and provides valuable insights for the development of SMEs.

Long-term planning is not only the scientific methodology and fundamental principle for state-owned enterprises (SOEs) to advance reform and development practices, but also their core internal logic for addressing instability and uncertainty in the external environment. Focusing on the principle that Party Committees (Party Leadership Groups) play the “leading role” in state-owned enterprise governance practice, this single case study conducts an in-depth exploration of the core issue of how Party Building shapes enterprises’ long-term orientation. The results reveal the key connotations of long-term orientation of SOEs from the perspective of Party Building, including farsightedness, continuity, strategic resolve, and resilience. It also refines the multi-level embedding mechanism with responsibilities, the systematic construction mechanism with top-down alignment, and the cross-level inspiration mechanism with leading demonstrations in Party Building work of SOEs, and clarifies the inherent logic and implementation through which Party Building in SOEs fosters long-term orientation of enterprises. The research results can not only help managers understand the connotation of Party Building, undertake their responsibilities, and coordinate the long-term development of multiple stakeholders, but also provide support for the high-quality development of state-owned enterprises.

Cooperatives are an important force in promoting rural revitalization and modernization. From the perspective of social bricolage, this paper explores the relationship between social bricolage and platform-based business model construction by taking three cooperatives in different forms of establishment in Henan Province as examples. The study reveals that the construction of cooperatives’ platform-based business model follows this path: Initially, taking resource integration via “local sourcing” as the foundation, value-creating activities including revitalizing existing resources and integrating scattered elements drive the proposal of diversified value propositions. Secondly, with resource expansion through “refusal of constraints” as the driving force, the systematic development of the cooperative’s value network is promoted by means of stakeholder collaboration. Finally, targeting dynamic adjustment through “improvisation”, targeted persuasion strategies encourage in-depth stakeholder participation and sustainable value co-creation, thereby supporting rural revitalization. In addition, digital empowerment to achieve efficient value delivery is the key to the construction of cooperatives’ platform-based business model. The conclusions of this paper reveal the social entrepreneurship mechanism and growth path of cooperatives, and provide theoretical guidance for the future development direction of China’s cooperatives.

The integrated industrial development in rural China has reached a preliminary scale, but still suffers from systemic deficiencies. Establishing a long-term mechanism for the integrated development of primary, secondary, and tertiary industries (the “three industries”) with multi-stakeholder participation, thus, becomes crucial to addressing this issue. Based on a comparative study of two villages with distinct industrial development models, This study focuses on the construction of a long-term mechanism for rural triple integration, analyzing the behavioral roles played by both “non-local” and “local” enterprises, as well as other relevant actors involved. The study finds that, compared to non-local enterprises, local enterprises are more readily integrated during the development integration stage, facilitated by accumulated trust. Local elites play a dual role and help correct deviations of non-local enterprises while guiding them to expand and upgrade along the industrial chain. With the development of the industry, both entrepreneurial models enter the value empowerment stage, gradually forming three core mechanisms, that is, exogenous guidance, endogenous development, and co-evolutionary adaptation. Driven by these three mechanisms, a sustainable long-term mechanism for rural three industries’ integration takes shape. This provides a robust foundation for consolidating poverty alleviation achievements and effectively aligning with the national strategy of rural revitalization.

The rapid iteration and application of digital technologies have not only had a profound impact on the paradigm of technological innovation, but also provided a window of opportunity and a source of strength for the innovative development of enterprises. This paper uses the programmed rooting theory to conduct a single case study of JD Logistics Enterprise and reveal the processes and mechanisms of digitally empowered technology innovation in the enterprise. The results show that: (1) digitalization empowers the entire process of the enterprise’s technological innovation through data resources and digital technologies. In the different stages of the evolution and advancement of “information technology introduction innovation — digital breakthrough innovation — digital intelligence interactive innovation”, progressive innovation and breakthrough innovation play different roles, and alternately coexist and promote each other to improve the process of enterprise innovation and development. (2) the realization mechanism of digital empowered enterprise technological innovation includes resource integration mechanism, perception mechanism and synergy mechanism. Among them, the resource integration mechanism works on resource allocation and technology accumulation, the perception mechanism is reflected in intelligent perception and core technology breakthroughs, and the synergy mechanism realizes open collaboration and value co-creation. The three mechanisms work together to promote technological change and innovation at different stages of the enterprise’s development, so as to realize the integrated development of the value chain, the supply chain and the innovation chain. This research enriches the application scenarios of digital empowerment theory, expands the boundaries of research on ambidextrous innovation theory, and provides theoretical basis and practical inspiration for the innovative development of enterprises in the digital environment.

Regarding the practical issue of how brands can stand out and maintain a competitive advantage, mainstream research has consistently attempted to seek theoretical breakthroughs centered on market orientation, while neglecting the role of stakeholders. This paper addresses this analytical blind spot by approaching it from the perspective of brand identity, taking Jiahui Guoguolv as a case, proposing the concept of stakeholder brand ambidexterity, and demonstrating its construction and evolution path. The research find that: First, companies go through three ambidextrous learning stages — absorptive, transitional, and expansive — sequentially, which drives the transformation from a market- to stakeholder-oriented approach. Second, the manifestation of stakeholder brand ambidexterity varies significantly across different stages. Third, the dynamic construction process of stakeholder brand ambidexterity involves five key elements. This study identifies the development patterns of stakeholder brand ambidexterity, reveals its internal mechanisms and evolution paths, and provides insights and references for enterprises to achieve transformation and upgrade leading to sustainable development in complex and dynamic environments.

How digitalization promotes the improvement of enterprise accounting information quality has drawn attention from both the academic and industrial circles, but the internal driving mechanism at the micro level has yet to be clarified. Based on the theory of resource orchestration, this paper conducts an in-depth study on the stage-specific characteristics and internal mechanisms of the accounting information quality improvement in manufacturing enterprises driven by digitalization. In light of the intelligent manufacturing transformation of Midea Group since 2012 and with a longitudinal single-case study method, we discover that: (1) the digital transformation of manufacturing enterprises is manifested as a resource orchestration process involving the construction, bundling and leveraging of digital resources; (2) at different stages of digital transformation, digitalization has effectively enhanced the quality of accounting information for enterprises; (3) the intrinsic mechanism by which the digital transformation of manufacturing enterprises enhances the quality of accounting information lies in strengthening the internal control level of the enterprises and improving their various key capabilities. The resource orchestration actions driven by digital transformation are the key processes for converting digital advantages into the accounting information quality. This paper discovers the evolution laws of digital transformation in manufacturing enterprises, reveals the internal mechanism by which digitalization promotes the improvement of accounting information quality in manufacturing enterprises, expands the application scenarios of resource orchestration theory, and can provide a reference for the intelligent upgrade of manufacturing enterprises in the digital economy era.

Equity pledge provides a fast financing channel for listed companies. However, some enterprises conduct excessive earnings management while carrying out equity pledge, which conceals complex motives and potential risks, and requires in-depth analysis. Taking Senyuan Electric as an example, this paper deeply analyzes the motives of its controlling shareholder’s high proportion of equity pledge and conducts a comprehensive analysis of debt repayment, operation, profit and growth capabilities, and the economic consequences brought by excessive earnings management. The research finds that Senyuan Electric has concealed a series of economic consequences brought by high proportion of equity pledge through earnings management, and excessive earnings management has not truly enhanced the company’s long-term development capabilities, but the company’s financial situation has deteriorated instead. In recent years, Senyuan Electric has begun to show positive signs of recovery in finance by optimizing business structure, reducing long-term project investment, and adjusting equity structure and introducing state-owned capital. This study has guiding significance for the practice of equity pledge and earnings management in listed companies and their controlling shareholders in China.

China has launched the “three arrows” policy package—credit, bond, and equity—to boost financing for private enterprises. The “second arrow”, involving bond financing support tools such as guarantees and credit protection, has become a preferred choice for private firms due to its direct financing attributes, efficient issuance mechanisms, flexible funding allocation, and transparent signaling effects, helping them avoid equity dilution and credit constraints. Amid recent liquidity crises in private real estate firms, this study examines Midea Real Estate as a case study. Based on information asymmetry theory, it analyzes the tool’s impact on financing availability, financing costs, and market response. Findings indicate that the tool significantly reduces financing barriers and facilitates bond issuance, enhances market confidence, and triggers positive market reactions. However, as firms bear the costs of credit enhancement, the tool shows limited effectiveness in lowering overall financing costs. Current challenges include narrow coverage, accumulated risks for credit enhancement institutions, and slow recovery of private firms’ independent financing capacity, which hinder broader adoption. To amplify the tool’s role in alleviating financing difficulties, it is essential to build a healthy market ecosystem where private enterprises proactively seek credit enhancement, financial institutions willingly provide support, and investors rationally recognize its value. The conclusions of the study offer insights for private enterprises leveraging bond financing tools to overcome financing constraints.

In the digital and intelligent era, massive information technologies and intelligent platforms have been deeply integrated intoteaching scenarios, bringing development opportunities to the teaching of ideological and political courses in universities, while also bringing a series of practical challenges. Based on constructivist learning theory and focusing on different university cases, this study uses a qualitative research method and conducts an in-depth analysis of the effectiveness of the integration between information technology and the teaching of ideological and political courses. The results show that the identified four main categories of the creation of teaching environment field, curriculum teaching practices,the development of online course resources,and teachers’competence improvement constitute the driving forces that drive students’motivation to learn ideological and political courses, as well as improve the “three in one” educational effect. A model of “internal and external driving forces — learning motivation — educational effect”was constructed. The feasibility of the model was verified through a gray correlation analysis, and a five-point scale was used to conduct survey measurement and systematically analyze the problems existing in the current information-based teaching mode of ideological and political courses. Accordingly, effective suggestions are proposed from different levels. The research results provide necessary academic support for promoting the comprehensive improvement of the educational quality of ideological and political courses in universities.