We offer an extensive analysis of the significance of information within the realm of Gaussian quadratic economies. We build upon the seminal papers of Morris and Shin (2002, 2007) and consider a signal game of incomplete information. Particularly, we question the suitability of partial transparency portrayed by fragmented information in addition to the private signal in terms of welfare effects. We can summarize our findings in two main points. First, fragmented information, in conjunction with a private signal, can reduce the reliance on public signals. Second, a conflicting effect arises between increasing full disclosure and increasing the precision of fragmented (semi-public) information when examining different complex scenarios, involving for example endogenous private information or imperfect correlated signals. For a critical threshold, an optimal communication strategy designed by fragmented information should be implemented whenever that kind of information is acquired at a high precision.

This study analyzes how the presence and the composition of nomination committees could influence innovation. Specifically, we focus on the committee size, the frequency of meetings, and the presence of independent and female members. Innovation is measured by (1) the firm’s ability to produce innovations such as new or improved products/processes and the number of patents, and (2) innovation expenditures (R&D spending and the number of scientists and experts per R&D teams). This study is drawn on firms listed on the SBF120 index, between 2002 and 2016. It provides the following results: First, the presence of nomination committees is negatively associated with the number of patent applications and the number of scientists and engineers in R&D teams. Furthermore, most of the nomination committee’s attributes (such as the presence of independent and women members) have no significant association with innovation proxies. We show, also, that large nomination committees are prone to increase innovation income (such as the R&D expenditures and the number of scientists and experts per R&D teams) as well as the number of filed patents. Turning to the committee functioning provides evidence that the frequency of meetings could reduce asymmetric information regarding innovation projects and lead to an increase of R&D expenses. This article brings practical insights to board structures issues. This study contributes to the current debate on how boards should be organized, specifically; the nomination committees. It shows that boards should pay attention to the nomination committee features as they could undermine innovation projects, specifically in innovation-sensitive industries.

The Hospital Price Transparency Final Rule aims at reducing the cost of healthcare in the United States by making information about the prices of medical services more readily available to market participants. The economic rationale is that higher price transparency should reduce the level and the dispersion of prices by disincentivizing hospitals from charging higher prices than possible. Using data on 3789 prices for three diagnostic imaging procedures and on the compliance with the rule for 86 acute care hospitals in the Greater Los Angeles area, we test the hypothesis that price levels and price dispersion are lower among hospitals that are more compliant. We do not reject this hypothesis, although we do not observe strictly decreasing relationships in all analyses. Prices are lower at hospitals with high or medium compliance than at hospitals with low compliance, but there is not a clear difference between hospitals with high and hospitals with medium compliance. Prices are less dispersed among hospitals with high compliance than among hospitals with low compliance, but the evidence for hospitals with medium compliance is less clear. We conclude that high compliance with the Hospital Price Transparency Final Rule implies lower prices and less price dispersion among hospitals.

The digital transformation provides an opportunity for the development of a green and low-carbon economy. This study used panel data collected from 30 Chinese provinces between 2011 and 2018, and assessed the impact of digitization (Dig) on environmental efficiency (EE). Quantile regression is employed to scrutinize the evolution of the marginal effect. From the perspectives of population and institutional factors, this study empirically investigates nonlinear relationships and potential mechanisms using Hansen threshold and mediation models. The findings reveal several key insights. Overall, levels of digitization and environmental efficiency (EE) are increasing with regional dispersion expansion, indicating a “polarization” characteristic. The impact of digitization on EE exhibits noticeable stage and regional heterogeneity. Analysis of population factors reveals that population structure, population size, and human capital trigger a sharp “marginal increase” of positive effects with single thresholds of 0.8155, 7.2284, and 11.0497, respectively. Analysis of institutional factors highlights the significance of fiscal policy quality (tax proportion), education expenditure, and tax system structure as important intermediaries. Finally, this paper presents corresponding policy implications.

The use of cloud computing by firms can be expected to go hand in hand with higher productivity, more innovations, and lower costs, and, therefore, should be positively related to export activities. Empirical evidence on the link between cloud computing and exports, however, is missing. This paper uses firm level data for manufacturing enterprises from the 27 member countries of the European Union taken from the Flash Eurobarometer 486 survey conducted in February – May 2020 to investigate this link. Applying standard parametric econometric models and a new machine-learning estimator, Kernel-Regularized Least Squares (KRLS), we find that firms which use cloud computing do more often export, do more often export to various destinations all over the world, and do export to more different destinations. The estimated cloud computing premium for extensive margins of exports is statistically highly significant after controlling for firm size, firm age, patents, and country. Furthermore, the size of this premium can be considered to be large. Extensive margins of exports and the use of cloud computing are positively related.

Achieving food security through improved agricultural technology is one of the greatest challenges of our time. Indeed, it is one of the elements explicitly mentioned in the Sustainable Development Goals (SDGs). One factor that can lead to improved production and distribution systems is the availability of data of all kinds on the sector. In this paper we study what is happening in this respect in two Mediterranean olive oil producing countries, and show how available data can facilitate the coordination and communication of technical developments and improve the competitiveness of producers.

When human civilization is thriving to the rapid economic and social development, the deteriorating ecological environment has also pressured the society to put environmental protection issues on the agenda future development. Therefore, green innovation is not merely a requirement for a corporate’s long-term development but the basics of sustainable development of human society. As an objective indicator to measure a company's commitment to social responsibility, corporate environmental responsibility has an extremely important impact on a corporate's business philosophy and innovation strategy. However, the existing literature rarely studies between these two variables. This paper collects the data of listed companies from 2010 to 2019 and empirically tests the impact of corporate environmental responsibility on corporate green innovation. The study finds that corporate environmental responsibility can promote green innovation by reducing financing constraints, improving corporate governance and increasing government subsidies and R&D investment, and the result is still significant under a series of robustness checks. The placebo test suggests that the Jiangsu enterprise responsibility construction pilot has facilitated the development of enterprises' green innovation to a great extent. The conclusions enrich existing literature on corporate environmental responsibility and corporate green innovation, providing implications for government policy orientation, social atmosphere guidance and corporate strategic decision-making process.

In the context of digital economy, Hebei Province, as an important province in central China, has a huge manufacturing base and potential, and the development of digital economy has driven the transformation and upgrading of manufacturing industry to a certain extent. In order to better play the driving role of digital economy in the transformation and upgrading of manufacturing industry, this paper establishes an intermediary effect model based on three intermediary variables: enterprise resource allocation ability, enterprise cost and enterprise innovation ability, and conducts an empirical study on the panel data of 11 prefecture-level cities in Hebei Province from 2017 to 2022. The mechanism of digital economy driving manufacturing upgrading in Hebei Province was discussed. The results show that: (1) there is a significant positive correlation between the development of digital economy and the transformation and upgrading of manufacturing industry, which indicates that the development of digital economy has a direct driving effect on the transformation and upgrading of manufacturing industry; (2) There is also a positive correlation between the development of digital economy and the resource allocation ability and innovation ability of enterprises, indicating that the development of digital economy can improve the resource allocation ability and innovation ability of enterprises, and is conducive to the stable development of enterprises in the future; (3) Enterprise resource allocation ability and enterprise innovation ability play a significant intermediary role in the relationship between digital economy development and the transformation and upgrading of manufacturing industry, indicating that digital economy can indirectly accelerate the transformation of manufacturing enterprises' R & D achievements by improving enterprises' resource allocation ability and innovation ability, thus improving enterprises' market competitiveness and increasing enterprises' earnings. Drive the transformation and upgrading of the manufacturing industry. Based on this research conclusion, the government should give full play to the role of guidance and support, and introduce relevant policies to help the digital economy drive the transformation and upgrading of manufacturing enterprises. Manufacturing enterprises should seize the tide of the development of the digital economy, use digital technology to improve their resource allocation ability and innovation ability, enhance core competitiveness, and accelerate the transformation and upgrading of enterprises.

Given the rapid development of live streaming commerce in China, this study focuses on the interactivity and sociability of live streaming shopping activities and explores online consumers’ real-time interaction intentions and trust-building behaviours with online merchants. To discover the real-time interaction between online consumers and online merchants, this study builds a research model based on the Theory of Planned Behaviour (TPB). Through the data analysis based on the partial least squares path modelling and variance-based structural equation modelling (PLS-SEM), the key findings state that, three factors, including attitude, subject norm, and perceived control, positively affect online consumers’ real-time interaction intentions and lead them to build trust with online merchants. Meanwhile, control variables, including gender, age, and educational background, demonstrate insignificant effects across the model. Unlike existing literature, the current study pays much attention to the interactive characteristics of live streaming shopping activities and can provide some valuable suggestions both for online consumers and online merchants, which can promote the co-development of the commercial and social aspects of live streaming platforms.

Cloud computing is one of the fastest growing domains of the IT industry, however, the growth rates for each of the models on a global and local (Russian) scale have not been generalized, despite the obvious value of such analysis. Modern business and industry in Russia is going through another period of instability and at the same time is forced to follow the trend of digitalization. That is why a balanced scientific analysis and forecast of the development of cloud technologies is needed, as the main factor in improving business efficiency. The purpose of the study: is to review the main models of cloud services for modern business and industry, describing their capabilities separately and the prospects for the market as a whole. The materials for the study were analytical reports of leading consulting companies and materials from specialized web-sites. Result: The article considers cloud technologies as the main global technological trend, describes popular models of cloud services, their opportunities for business and industry. Russian and global leaders in the provision of cloud services are also described, the growth rates of these markets for each of the models are indicated. The most popular and promising cloud service models in 2022 are: UCaaS, CaaS, SaaS, IaaS, RPAaaS, PaaS. The cloud technology market will show strong growth until 2030, generating both hybrid and absolutely new service models. The private business, industrial and public sectors will increasingly move to cloud services. The main trends in the development of cloud technologies until 2030 are: hybrid cloud, artificial intelligence (AI) and cloud computing, deployment of cloud services in the planetary orbit. The results obtained are very valuable for analysts and industry experts. The above trend analysis provides valuable predictive data to research economists, investors, business and industry leaders and other stakeholders on how the cloud services market will grow in the next 5-7 years. The results of the study also have a general theoretical nature, substantiating the importance of further forecasting the development of this market (especially using mathematical methods).

The claim that “there is no third way” besides the economic models of capitalism and communism has faced a challenge from a new and growing body of research into a “third way” economic paradigm known as democratic planning. In this paper, we explore one of these democratic planning models–Robin Hahnel and Michael Albert’s model of a participatory economy, focusing in particular on its allocation mechanism–a non-market, non-command-planning procedure known as “participatory planning.” This procedure has recently been implemented in computer programs to explore its feasibility, the encouraging results of which have been published elsewhere and which we summarize here. But I present here for the first time the detailed algorithms and related pseudocode powering all of these computer programs for others to consider, examine, and build as their own programs. I also describe future directions for this avenue of research.

This paper explores the transformative journey from traditional e-commerce to the emerging realm of virtual commerce (v-commerce) within the metaverse, a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual reality. The metaverse, with its immersive and interactive capabilities, is reshaping the landscape of economic activities, creating a paradigm shift in the way consumers shop, sell, and buy goods and services. The study delves into the impact of virtual reality (VR) technologies on consumer behavior, business models, and the overall economy. It investigates how VR is revolutionizing the shopping experience by offering immersive, personalized, and interactive platforms, thereby influencing con-sumer decision-making processes. The paper further examines the implications of these changes for businesses, particularly in terms of strategy, operations, and customer engagement. Moreover, the paper discusses the challenges and opportunities presented by the metaverse economy, including issues related to privacy, security, digital divide, and regulatory frameworks. It also highlights the potential of v-commerce to drive economic growth, innovation, and sustainability in the digital age. The paper concludes with a discussion on the future directions of v-commerce and the potential strategies for businesses to thrive in this new economic landscape.

This research focuses on the digital transformation of retail banking in New Zealand, focusing on the challenges and opportunities elderly customers face. The banking industry is undergoing unprecedented change as technology evolves and customer needs change. However, elderly customers face physical and security challenges associated with digital transformation and lower acceptance of new technologies. This paper analyses the characteristics and needs of elderly customers, investigates the different needs of elderly and young customers, and recommends relevant solutions and suggestions. This investigation is based on secondary data, and recently published articles from various sources were used to collect information. In the wave of digital transformation, banks not only need to strive to provide convenient, safe, and high-quality services, but also need to innovate continuously to meet the needs of all customers and enhance their trust and satisfaction. This report provides exclusive digital service suggestions and solutions to help banks better meet the needs of elderly customers.

This study estimates the impact of third-party online payment systems on trade, export, import, and Internet retailing in China. Also, the study examines the financial development mechanism via which third-party payment affects trade, export, import, and Internet retailing in China. By employing a sample of 31 provinces in China covering 2011 to 2018, the findings indicate that, third-party payment drives China’s trade (0.43%), export (0.42%), import (0.47%), and Internet retailing (0.24%). The study also finds that third-party payment complements financial development to positively affect trade, export, import, and Internet retailing in China. The study recommends policymakers promote third-party payment development in China to boost trade, export, import, and Internet retailing.

The dynamic patterns of technology adoption among firms clustered by size are investigated to assess the implications arising from the digital divide. Using data from the “Survey on the Use of Information and Communication Technologies in Enterprises (IUTICE)" dataset for 2003-2022, provided by the Portuguese Institute of Statistics, the research centers on three key variables – internet connectivity, website presence, and computer usage – which are examined across a spectrum of firms’ scales, shedding light on the evolving trends in technology adoption. Employing a combination of descriptive statistical analysis, trend assessment, and cross-sectional comparisons, this research shows noteworthy insights. Interestingly, the adoption rates for all three technology variables exhibit a consistent upward trajectory, indicative of a movement towards digitalization within the business landscape. Smaller firms have demonstrated notable strides, manifesting a reduction in the technology adoption disparity relative to their larger counterparts. The findings underscore the influential roles played by resource constraints and digital competencies in shaping technology adoption trajectories, and their correspondence with the Resource-Based View (RBV) framework underscores the role of organizational resources and capabilities on the digital divide. The ramifications extend beyond individual firms, resonating with the global scholarly discourse and advocating for equitable integration of technology. As firms, irrespective of size, grapple with the challenges posed by the digital era, this study provides deep insights that can guide the formulation of strategies aimed at cultivating an inclusive and technologically empowered business environment.

Economic globalization has intensified economic volatility around the world, and the importance of economic resilience has become increasingly prominent in the face of rising uncertainty due to frequent domestic and foreign shocks. Based on provincial panel data in China from 2008-2019, a comprehensive indicator system is constructed to measure regional economic resilience (RER), and the impact of financial driver (FD) on RER is explored from staged, pathway and non-linear perspectives. The main findings are as follows. (1) Both national and regional levels of FD and RER show an upward trend, and the impact of FD on RER has an “inverted-U” shape: as the capacity of FD increases, its impact on regional economic resilience shifts from promoting to inhibiting. The RER has significant spatial agglomeration characteristic. (2) Interestingly, staged analysis shows FD can significantly promote RER only when it is in the “recovery stage”. (3) The pathway analysis of its effect on regional economic resilience shows the following characteristics: financial scale > financial efficiency > financial deepening. (4) From different regions, there are significant differences in the effect of FD on the promotion of regional economic resilience: central region > western region > eastern region. Finally, the corresponding suggestions were provided.

The objective of this research is to investigate, using time series data ranging from 1992 to 2021, the effects of information and communication technologies (ICTs) and foreign direct investment (FDI) on economic growth (GDP) in India. The stationarity of the data was examined by employing unit root tests, and an autoregressive distributed lag (ARDL) technique was used to investigate the link between the factors, taking both the long- and the short-run into consideration. According to the findings, an increase of one percent in both ICT and FDI will result in an increase of 0.56% and 0.71% in GDP over the long term, in addition to an increase of 0.11% and 0.29% over the short term. The findings of the investigation are of particular significance to policymakers because they can be utilized to establish sensible policymaking for long-term economic success, in addition to advancing the ICT sector and boosting FDI.

This article discusses the pressing need to integrate artificial intelligence (AI) into education to facilitate customizable, individualized, and on-demand learning pathways. At the same time, while AI has the potential to expand the learner base and improve learning outcomes, the development of NACE Competencies and durable skills – communication, critical thinking, creativity, leadership, adaptability, and emotional intelligence - must be purposefully integrated in curriculum design now more than ever. Recent studies have shown that AI-driven learning pathways can achieve outcomes more quickly, but this comes at the cost of the development of durable skills. Therefore, traditional student-to-student and student-to-teacher interactions must be prioritized. As such, this study proposes a balanced approach to curriculum design to ensure the best outcomes for learners, where durable skill development is prioritized alongside subject-specific skills and rote memorization. Additionally, the article highlights the need for a combination of Just in Time Training (JITT) approaches, facilitated by AI technology, to reach the implementation of durable skills. The article concludes by questioning how to develop human skills in an increasingly AI-driven education system and emphasizes the importance of curriculum design and traditional learning approaches in creating a cohesive learning experience that develops durable skills in students. It is necessary to recognize that AI-driven education cannot replace the development of human skills, and that traditional interactions play a crucial role in developing these skills.

Even though policy coordination is one of the oldest challenges that governments have to confront, as problems evolve and "New Public Management" concepts emerge, it has become even more essential. The current literature on policy coordination among government agencies, however, shows little regarding the way coordination is managed under centralized political systems. This study, based on the science and technology (S&T) policy documents issued by China's central government agencies between 1978 and 2020, provides a quantitative and dynamic analysis of the coordination of policies in China and presents a comprehensive overview of policy coordination paths and processes in centralized political systems. As a result, it provides a way that contributes to the analytical methods available for quantitatively analyzing policy documents. On the other hand, the key findings of the study show that, first, state council-administered ministries have taken the lead in coordinating policy while other types of organizations have collaborated in more subordinate capacities. Second, national themes that are democratic and driven by demand have been the core concern of coordination activities, such as social development, high-tech industrialization, and rural S&T. Third, policy coordination has evolved continuously and has mostly contributed to interpreting macrostrategies and implementing more specific implementation measures.

As the underlying institutional design for enterprise risk management, it is important to study whether and how internal control affects enterprise technological innovation in the current context of increased economic policy uncertainty. Based on the principal-agent theory and information asymmetry theory, this paper explores the impact of internal control on corporate technological innovation using the listed company data from 2009-2019 CSMAR database, and obtains the following research conclusions: (1) the quality of internal control positively affects the corporate technological innovation. (2) The operational risk plays an intermediary role in the relationship between the internal control affecting the corporate technological innovation. (3) The degree of market competition positively moderates the impact of internal control on enterprise technological innovation. (4) Relative to non-stateowned enterprises and non-high-tech enterprises, the quality of internal control of state-owned enterprises and high-tech enterprises has a more significant impact on enterprise technological innovation. This paper enriches the consequences of the study of internal control on the one hand, and on the other hand, it provides a new perspective for improving technological innovation, and it provides certain guidance for further improving the level of corporate governance.