Digital transformation provides new drivers for economic performance growth in enterprises, but can it further improve ESG performance and support sustainable development? Based on the perspective of resources and capabilities, this article uses the relevant data of 1588 listed companies in strategic emerging industries from 2011 to 2021 to study the impact of digital transformation on enterprise ESG performance examines the intermediary role of absorptive capacity and the moderating role of regional digitalization level, and further analyzes the heterogeneity of property rights and industrial nature. The research results indicate that: firstly, digital transformation of enterprises can positively promote the improvement of ESG performance; secondly, absorptive capacity serves as a conduit through which digital transformation influences a company’s ESG performance; thirdly, the regional digitalization level positively moderates the promotion effect of digital transformation on enterprise ESG performance; fourthly, the impact of digital transformation on ESG performance of enterprises is significantly differentiated in the nature of enterprise property rights and industrial nature, and the ESG performance of state-owned enterprises and high-end equipment manufacturing enterprises is more sensitive to digital transformation. The research conclusion is based on a digital perspective, providing relevant insights for improving the ESG performance of strategic emerging industry enterprises and expanding their ESG development paths.

Digital transformation provides new drivers for economic performance growth in enterprises, but can it further improve ESG performance and support sustainable development? Based on the perspective of resources and capabilities, this paper uses the relevant data of 1588 listed companies in strategic emerging industries from 2011 to 2021 to study the differential impact of digital transformation on enterprise ESG performance, and further tests the mediating role of absorptive capacity and the moderating role of regional digital level. The research results indicate that: firstly, digital transformation of enterprises can positively promote the improvement of ESG performance; Secondly, there are significant differences in the impact of digital transformation on the ESG performance of enterprises in terms of property rights and industry characteristics. The ESG performance of state-owned enterprises and high-end equipment manufacturing enterprises is more sensitive to digital transformation; Thirdly, absorptive capacity plays a mediating role between digital transformation and corporate ESG performance; Fourthly, the positive regulation of regional digital level promotes the ESG performance of enterprises through digital transformation. The research conclusion is based on a digital perspective, providing relevant insights for improving the ESG performance of strategic emerging industry enterprises and expanding their ESG development paths.

To promote theoretical and empirical research on blockchain-enabled supply chain finance in China, this article provides an overview of relevant studies in China. Currently, research related to blockchain-enabled supply chain finance in China primarily focuses on three aspects: the underlying mechanisms of blockchain-enabled supply chain finance (including decentralization and consensus mechanisms, distributed storage, tamper resistance, and anti-denial features, as well as smart contracts), the positive effects of blockchain-enabled supply chain finance (including comprehensive effects, credit transmission, risk management) and the application scenarios of blockchain-enabled supply chain finance, and the impact mechanisms of blockchain on supply chain finance gaming behaviors (including the influence of blockchain on supply chain finance decision-making, risk assessment, and the supply chain financial system). Overall, research in China on the positive effects of blockchain-enabled supply chain finance (such as cost and benefit analysis, micro-level efficiency) is relatively limited. Additionally, studies on the factors affecting the adoption of blockchain in supply chain finance and the behavior of banks and small and medium sized enterprises (SMEs) in blockchain adoption within supply chain finance are relatively scarce. Given the backdrop of financial technology, further research is needed to deepen our understanding of various aspects related to blockchain-enabled supply chain finance in China.

To reflect both fuzziness and hesitation in the evaluation of interactivity between attributes in the identification process of 2-order additive fuzzy measure, this work uses the hesitant fuzzy linguistic term set (HFLTS) to describe and depict the interactivity between attributes. Firstly, the interactivity between attributes is defined by the supermodular game theory. According to this definition, a linguistic term set is established to characterize the interactivity between attributes. Under the linguistic term set, the experts employ linguistic expressions generated by context-free grammar to qualitatively describe the interactivity between attributes. Secondly, through the conversion function, the linguistic expressions are transformed into the hesitant fuzzy linguistic term sets (HFLTSs). The individual evaluation results of all experts were further aggregated with the defined hesitant fuzzy linguistic weighted power average operator (HFLWPA). Thirdly, based on the standard Euclidean distance formula of the hesitant fuzzy linguistic elements (HFLEs), the hesitant fuzzy linguistic interaction degree (HFLID) between attributes is defined and calculated by constructing a piecewise function. As a result, a 2-order additive fuzzy measure identification method based on HFLID is proposed. Based on the proposed method, using the Choquet fuzzy integral as nonlinear integration operator, a multi-attribute decision making (MADM) process is then presented. Taking the credit assessment of the big data listed companies in China as an application example, the analysis results of application example prove the feasibility and effectiveness of the proposed method. This work successfully reflects both the fuzziness and hesitation in evaluating the interactivity between attributes in the identification process of 2-order additive fuzzy measure, enriches the theoretical framework of 2-order additive fuzzy measure, and expands the applicability and methodology of 2-order additive fuzzy measure in multi-attribute decision making.

To further enrich the research on the promotion mechanism of high-level financial openness on the innovation of the manufacturing industry, this article summarizes the domestic and foreign research on the impact mechanism of financial openness. Currently, the domestic and foreign studies are mostly based on the characteristics of different financial industries, including the role of opening-up on enterprise innovation and its influence on the bank industry; the effect of foreign direct equity participation on enterprise innovation and its influence on the securities industry; the impact of the host country on the innovation of insured companies and its influence on the insurance industry. Future research directions may include deepening research on the transmission mechanism of high-level financial openness on manufacturing innovation and expanding research methods for the impact mechanism of high-level financial openness on manufacturing innovation development.