Abstract: The platform economy has positioned data as a critical production factor, yet data asset valuation faces systemic risks that remain inadequately governed. This paper develops an integrated framework addressing three questions: What distinctive risks characterize platform-based data valuation? How do these risks originate? How can an effective governance framework respond? The coupling of platform characteristics—network effects, multi-sided markets, data-driven operations—with data asset features—non-rivalry, value uncertainty, property ambiguity—generates a distinctive risk spectrum across the valuation process. These risks stem from interacting technological, economic, and institutional factors that reinforce one another. Drawing on collaborative governance theory, we propose a multi-actor framework engaging government, platforms, users, and third parties in differentiated but coordinated roles. Game-theoretic analysis reveals that incentive-compatible mechanisms are essential for aligning private interests with public goals. The framework integrates risk diagnosis with governance response, offering theoretical contributions and practical implications for stakeholders navigating data-driven value creation. Read More

Abstract: Generative artificial intelligence is reorganising media agenda setting, which is, in turn, shaping public policy response in China. This paper examines how existing response mechanisms adapt as public issues are increasingly shaped by algorithmic recommendation, short-video circulation, and AI-assisted communication. Using official documents, policy materials and examples from grassroots governance, it argues that AI has the potential to facilitate early issue detection, aggregate widely dispersed public concerns, and thus make response processes more data-sensitive. However, it is capable of splintering information, raising emotional content, directing attention to topics the platform traffic logic prefers, rather than public importance. The author contends that the fundamental constraints to the state of the policy response currently are not technical, but structural, with weak precision, incoherent interdepartmental cooperation, and inadequate follow-up and longer-term correction as the main limitations. What is, then, important is not just the use of AI, but how it is integrated into institutional practice. A more effective response relies on a framework linking monitoring, differentiated handling, coordination, and accountability. Read More

Abstract: Against the backdrop of the escalating China-US trade war and the accelerated restructuring of global supply chains, the integrated development of cross-border e-commerce and characteristic industrial belts has become an important pathway to respond to external shocks and promote high-quality regional economic development. This study integrates business ecosystem theory and the Analytic Network Process (ANP) to construct a cross-border e-commerce ecosystem model comprising diverse populations, internal factors and external environment. Through Grounded theory and expert interviews, key internal factors and external environment influencing the integration of cross-border e-commerce and characteristic industrial belts have been identified. The ANP model quantifies the impact weights of each factor, revealing that credit risk management and platform services are the most critical driving factors. This study proposes policy recommendations including strengthening credit risk management and compliance capabilities, upgrading platform services and digital supply chains, promoting brand transformation of industrial belts, and deepening industry-education integration to cultivate composite talents. These findings provide theoretical references and decision-making support for regions with high foreign trade dependence to cope with trade frictions and achieve industrial belt transformation and upgrading. Read More

Abstract: Energy is a fundamental condition for modern economic activity, technological progress, and social life. Its development affects not only productivity and industrial transformation but also the distribution of opportunities, risks, and welfare among different regions and social groups. In the process of energy production, distribution, and consumption, problems such as energy poverty, unequal access to clean energy, uneven participation in decision-making, and unequal exposure to environmental burdens remain prominent. These problems make social equity an essential objective of energy law and energy governance. Based on energy justice theory and social equity theory, this paper analyzes the relationship between legal frameworks, energy management, and social equity. It discusses international and domestic energy governance frameworks, examines practical pathways for reducing energy poverty, improving public participation, and allocating environmental responsibility, and identifies challenges related to regional applicability, market coordination, policy implementation, and regulatory effectiveness. The study argues that a fairer energy system requires more precise subsidy policies, stronger infrastructure support for disadvantaged regions, better coordination between market mechanisms and public-interest objectives, and more transparent and participatory regulatory arrangements. The paper provides theoretical support and practical suggestions for promoting social equity in energy transition and for building a more inclusive, low-carbon, and sustainable energy governance system. Read More

Abstract: Grounded in green logistics and reverse logistics theories, and incorporating the framework of closed-loop supply chain (CLSC) theory, this study systematically examines the current state of green reverse logistics management within China’s power battery recycling system for new energy vehicles. Taking BYD Auto as a case study, it provides an in-depth analysis of critical challenges related to recycling network efficiency, hazardous material logistics safety, and the collaborative functioning of the CLSC. The findings reveal that a fragmented recycling network layout, pronounced safety risks in logistics operations, and the limited processing capacity of single-brand closed-loop systems severely constrain both recycling efficiency and environmental performance. In response, this paper proposes a set of optimization strategies: the construction of a three-tier collection network comprising “community collection points, centralized recycling centers, and regional treatment bases”; the promotion of low-carbon practices in packaging, transportation, and warehousing; and the establishment of cross-brand battery recycling alliances. The study aims to enhance the operational efficiency and safety of green reverse logistics, facilitate the resource-based circular utilization of power batteries, and provide both theoretical support and practical guidance for developing a highly efficient, environmentally sound, and sustainable closed-loop recycling system for the NEV industry. Read More

Abstract: Artificial intelligence is increasingly recognized as an important driver of firms’ new quality productive forces. Based on panel data of new energy vehicle firms in the Yangtze River Delta from 2001 to 2023, this paper constructs firm-level indicators of artificial intelligence and new quality productive forces, and examines the impact of artificial intelligence on the new quality productive forces of new energy vehicle firms and its underlying mechanisms. The results show that artificial intelligence significantly promotes the growth of new quality productive forces in new energy vehicle firms, and this conclusion remains robust after addressing endogeneity concerns and conducting robustness checks. In addition, R&D expenditure does not constitute a significant mediating channel, although its negative path coefficient suggests a possible short-term adjustment effect. This indicates that the expansion of R&D funds does not necessarily translate immediately into improvements in firms’ new quality productive forces. Heterogeneity tests show that the promoting effect of artificial intelligence is more pronounced in Jiangsu and Zhejiang and among small-sized enterprises. Mechanism tests provide empirical evidence that artificial intelligence affects firms’ new quality productive forces through the optimization of R&D personnel structure and the improvement of innovation output. Read More

Abstract: As intelligent manufacturing and flexible production become increasingly important in the manufacturing industry, the design of scientific, efficient and flexible production plans has become essential for improving operational efficiency and customer responsiveness. Taking Midea's air conditioning products as the research object, this paper examines the formulation process, hierarchical structure, supporting information systems and adjustment mechanisms of production planning. Based on flexible manufacturing theory, it analyzes planning strategies for a product system characterized by multiple varieties, multiple models and seasonal demand fluctuations. The analysis shows that Midea's production planning process has formed a relatively complete closed loop composed of demand forecasting, master production scheduling, medium and short term scheduling, execution monitoring and feedback adjustment. Information systems such as ERP, MES and APS provide an important technical basis for flexible planning. However, problems remain in demand forecasting accuracy, cross departmental coordination, supplier response and the timeliness of plan adjustment. This paper proposes optimization measures involving intelligent forecasting, system integration, supplier collaboration and rapid on-site response. The findings provide practical implications for production planning in large scale home appliance manufacturing enterprises. Read More

Abstract: With the penetration of the digital technology into the financial sector becoming increasingly pervasive, most of the scholarly work has centered on the way this change alters financial service supply models, but have not considered its serious impact on the capital markets and the value of listed companies. With the help of the PKU-DFIIC, A-share listed companies financial report, and exchange trading data, this paper investigates the relationship among these three factors, i.e., the development of digital finance, the efficiency of the market and the valuation of companies. Built upon the consensus and gaps within the current literature it takes apart what digital finance really does in practice regarding information transfer, capital movement and resource distribution and outlines the whole road of how enhanced market efficiency is transmitted to company value. Research has found that digital finance can mitigate information barriers, optimize the overall trading environment, and alleviate the problem of firm value mismatch by improving financing conditions and governance mechanisms. Firms of different sizes and property rights have varying abilities to capture the benefits from digital finance. By analyzing the limitations of the industry reality, this paper provides actionable insights for optimizing the construction of the capital market and managing firm value. Read More

Abstract: Under the macro background of deeply advancing the regional coordinated development strategy and accelerating the construction of a new development paradigm, exploring the cross-border integration of industries and inter-regional collaborative governance has gradually become the theoretical direction for optimizing the macroeconomic spatial layout and cultivating new growth poles for the regional economy. As a representative province with strong economic vitality and significant gradient characteristics in regional development, Guangdong Province, in the process of promoting the integrated development of sports, culture, and tourism industries, objectively faces the theoretical demand of evolving from the relatively isolated operation of single industrial elements to a cross-regional composite industrial ecosystem. Moving beyond traditional empirical models and quantitative measurements, this paper adopts a theoretical speculative perspective of qualitative research, combining regional coordinated development theory, industrial ecology theory, and spatial political economy theory, to systematically explore the cross-regional co-construction and reconstruction paths of Guangdong's sports, culture, and tourism industry ecosystem under the regional coordinated development strategy. The research posits that Guangdong's steady construction of this ecosystem is a practical reflection of resolving regional development imbalances and responding to the macro spatial pattern optimization strategy. Its theoretical connotation is mainly reflected in the systematic coupling of cross-border heterogeneous elements and the cross-spatial reconstruction of value networks. Addressing the phased realistic dilemmas currently faced by Guangdong in advancing this initiative—such as administrative friction in cross-regional governance mechanisms, data and infrastructure shortcomings in factor mobility, and the need to enhance internal industrial division and collaborative innovation … Read More

Abstract: Against the background of the in-depth advancement of the "Belt and Road" (B&R) Initiative, cross-border direct investment (CBFI) has become a core driver of economic cooperation among countries along the route. However, significant differences in accounting systems among these countries have exacerbated cross-border information asymmetry, thereby restricting the improvement of investment efficiency. Taking panel data of 48 countries along the B&R from 2015 to 2023 as the research sample, this study measures the convergence degree of national accounting standards with International Financial Reporting Standards (IFRS) using the adoption degree and clause similarity scoring method. It empirically tests the impact of accounting system convergence on enterprise CBFI efficiency through panel regression, and explores the mediating role of information asymmetry, as well as the moderating effects of cultural differences, legal environment, and national governance level. The results show that: (1) The IFRS convergence level of countries along the B&R has obvious regional differences, generally at a medium to low level; (2) Accounting system convergence can significantly alleviate cross-border information asymmetry, thereby positively improving enterprise CBFI efficiency; (3) Cultural differences have a negative moderating effect on the positive impact of accounting convergence on investment efficiency, while a sound legal environment and high national governance level can positively strengthen this effect. Based on the research conclusions, this study puts forward targeted policy suggestions for promoting regional accounting coordination along the B&R and improving the efficiency of enterprise cross-border investment, which provides theoretical and practical references for the sustainable development of B&R cross-border investment and the integration of global accounting systems. Read More

Abstract: Under the background of the "dual carbon" goals and the promotion of green development strategies, China has continuously strengthened the governance of packaging and the construction of packaging waste recycling systems. This paper focuses on the packaging issues in the online sales of gift-attribute commodities. Using evolutionary game theory as an analytical tool, it constructs an evolutionary game model. The results show that the initial recycling willingness of enterprises has the greatest impact on the synergy pace of the system, exhibiting a significant "herding effect"; enterprise recycling decisions are significantly influenced by reuse benefits, as well as R&D and operational costs; the depth of logistics enterprises' participation depends heavily on government special subsidies and social benefits; the sharing of environmental governance responsibility and governance investment both positively drive the behavior of the three parties; and an increase in the recycling benefit coefficient can enhance overall synergy from the market side. Read More

Abstract: As a core variable influencing university students’ learning engagement, academic achievement and mental health, the development of self-efficacy is closely linked to the quality of teacher-student interaction in the classroom. Drawing on social cognitive theory, this paper systematically analyses the connotations and dimensions of the quality of teacher-student interaction, and explores four core pathways through which it influences university students’ self-efficacy: verbal persuasion, vicarious experience, direct experience of success, and emotional arousal. Building on this, the paper further distinguishes the differential effects of four interaction types—supportive, challenging, egalitarian, and feedback-oriented interactions—on self-efficacy, and proposes teaching strategies to enhance the quality of interaction in order to strengthen students’ self-efficacy. Research indicates that high-quality teacher-student interaction not only directly enhances students’ self-efficacy but also produces lasting effects through mechanisms such as establishing a safe psychological learning environment, providing precise demonstrations of learning strategies, and promoting positive shifts in students’ attributional styles. This paper provides a theoretical basis for promoting students’ psychological development through the optimisation of teacher-student interaction in higher education practice. Read More

Abstract: The joint replenishment problem (JRP) examines replenishment cycles, order quantities, and coordinated execution decisions for multiple items that share ordering costs or operational resources. As inventory management becomes increasingly connected with distribution networks, JRP has moved beyond static cost minimization and has been extended to stochastic demand, dynamic demand, resource constraints, joint replenishment and delivery, inventory routing, vendor-managed inventory, and learning-based optimization. This paper provides a narrative review of representative studies on JRP and related integrated inventory-distribution problems. The review is organized around four themes: relaxation of modeling assumptions, incorporation of operational constraints, expansion of decision boundaries, and evolution of algorithmic paradigms. It compares the decision scope of JRP, JRD, IRP, and S&OP-related models, and discusses the applicability of heuristics, metaheuristics, mathematical programming, approximation algorithms, and reinforcement learning. The review suggests that JRP research is shifting from replenishment-cycle selection under a single cost objective toward integrated supply chain decision-making under uncertain demand, limited resources, distribution coordination, and multi-objective performance requirements. Read More

Abstract: Taking A-share logistics listed companies on the Shanghai and Shenzhen stock markets from 2020 to 2025 as the research object, this study empirically analyzes the impact of debt financing on corporate growth using structural equation modeling (SEM) and mediation effects. The results indicate that debt financing is significantly negatively correlated with corporate growth; Executive incentives have a significant positive causal relationship with corporate growth, while debt financing has a significant negative correlation with executive incentives, and debt financing can indirectly affect corporate growth through the mediating effect of executive incentives. The direct effect of debt financing on corporate growth is -0.277, the mediating effect is -0.041, and the total effect is -0.318. Read More

Abstract: The advancement of global climate governance alongside the deep implementation of China's "dual carbon" strategy has elevated the collaborative governance of the ecological environment to a central position within high-quality economic and social development. As ecological and environmental issues receive increasing attention, corporations, as the primary consumers of environmental resources and the principal sources of environmental pollution, bear a significant responsibility for improving and protecting the existing ecological environment. Against the backdrop of developing a low-carbon economy, it is imperative to clarify the environmental social responsibility that enterprises should undertake in environmental protection from multiple dimensions, including fostering low-carbon philosophies, enacting environmental legislation, increasing investment in low-carbon technology R&D, and strengthening government guidance. Read More

Abstract: In light of the requirements of The Times for new liberal arts to serve national strategies and social development, undergraduate courses in auditing have long faced "four difficult problems": the difficulty in effectively crossing the knowledge barriers of related disciplines, the difficulty in deeply integrating ideological and political education with professional courses, the difficulty in truly constructing practical teaching case scenarios, and the difficulty in implementing output-oriented education (OBE) throughout the entire process. It has severely restricted the effectiveness and advancement of the "new liberal arts +OBE" teaching. This paper explores the deep reform and reconstruction of modern AI-enabled auditing course teaching and constructs the "one two three four" "new liberal arts +OBE" teaching model of auditing course. In terms of teaching concepts, achieve "new liberal arts +OBE" leading the way; In terms of teaching methods, achieve empowerment through the "two-wheel drive" of teachers, students and large AI models; In terms of teaching content, achieve the integration of disciplinary connections and the convergence of ideological and political education in courses and practical cases in new liberal arts teaching; In terms of teaching methods, achieve "four-way integration" throughout the OBE process. Make full use of large AI models, implement individualized teaching and closed-loop continuous improvement of OBE, enhance the quality of teaching output of the auditing course, ensure that the course teaching ADAPTS to the evolution of the new liberal arts era, and cultivate top-notch talents in modern economic management. Read More