Using the index of the degree of digital transformation of enterprises constructed based on text analysis, and combining the data of Shanghai and Shenzhen A-share listed companies from 2007 to 2020, a panel data model was established to empirically study the impact of digital transformation on green technology innovation and the mechanism of action and to further analyze the impact of heterogeneity. The results show that digital transformation can significantly promote green technology innovation, and its internal mechanism is that digital transformation can improve the level of green technology innovation by alleviating financing constraints and attracting government subsidies. Compared with nonstate-owned enterprises and small and medium-sized enterprises, digital transformation plays a more significant role in promoting green technology innovation in state-owned enterprises and large-scale enterprises. Therefore, the government should regulate the market order and formulate reasonable financial policies to provide policy and financial support for enterprises to carry out digital transformation, mobilize the willingness of enterprises to carry out green technology innovation and improve the level of green technology innovation in China.

While immersive shopping has injected new vitality into China's e-commerce, it has also resulted in consumers' over-reliance on online shopping. Psychological studies have linked online shopping addiction with depression, but business practices challenge this conclusion. This study, grounded in addiction theory, developed a theoretical model, and conducted an online survey with 214 live-streaming shoppers using structural equation modeling for validation. The primary focus was on determining whether consumers truly become addicted to online shopping in the four stages of the addiction model. The study unveils the process of consumers becoming addicted to online shopping. It explores the moderating role of perceived risk in the relationship between utilitarian and hedonic purchases and online shopping addiction. The findings suggest that through tactics such as traffic promotion, traffic trapping, anchor feature utilization, and incorporation of consumer aesthetics, merchants may induce utilitarian and hedonic purchases, leading to addiction to live-streaming shopping among consumers. Furthermore, perceived risk significantly and negatively moderates the relationship between utilitarian purchases and online shopping addiction. Our research indicates that merchants intentionally create external stimuli, enticing consumers to indulge in online shopping, suggesting that online shopping addiction is not merely a simple psychological state but may be influenced by external factors. This study provides novel insights into the phenomenon of online shopping addiction while offering valuable recommendations for consumers seeking to avoid succumbing to its allure.