Although green innovation strategy (GIS) is the driving force for the sustainable development of enterprises, while the strategy is implemented, an increased cost and a change in organizational routines will cause an organization to become fragile, and even affect the sustainable competitive advantages. So, the purpose of this paper is to explore the impact path of GIS on sustainable competitive advantages and the implementation boundary of GIS. To explain the impact path, we consider the concept of dynamic capabilities to be the mediator variable. To explain the implementation boundary of GIS, we systematically explore the relationships among GIS, dynamic capabilities and sustainable competitive advantages under different levels of environmental uncertainty. Based on 241 new Chinese green firms, the empirical results find that GIS helps enterprises to gain sustainable competitive advantages. However, in the process of strategy implementation, enterprises should choose appropriate methods according to different degrees of environmental uncertainty. In a low environmental uncertainty, dynamic capabilities play a full intermediary role between GIS and sustainable competitive advantages. However, in a high environmental uncertainty, dynamic capabilities have no mediating effect between GIS and sustainable competitive advantages. This study not only integrates green management theory and strategic management theory but also makes up for the deficiencies in research on these theories and has important reference value for enterprises that seek to carry out green innovation activities.

Previous studies have found that reverse technology spillover effects can promote industrial technology modernization in developing countries. However, it is still unknown whether reverse technology spillover effects can improve green innovation efficiency in developing countries. In particular, institutional uncertainties characteristic of transition economies have a significant impact on industrial modernization. Therefore, researching the impact of the institutional environment on the relationship between reverse technology spillover effects and green innovation efficiency is of great significance. In this paper, we use data from G20 countries as well as China’s foreign direct investment (FDI) data to measure the effects of reverse technology spillovers and adopt the threshold effect model to explore the relationship between reverse technology spillover effects and green innovation efficiency as well as the influence of the institutional environment on this relationship, based on China’s provincial panel data from 2003 to 2015. The empirical results show that the reverse technology spillover effects can effectively improve green innovation efficiency. There is a threshold for the influence of the institutional environment on the relationship between reverse technology spillover effects and green innovation efficiency. When the institutional development level surpasses the threshold value, an acceleration effect is generated. In addition, we find that the legal system is the key bottleneck in terms of improving green innovation efficiency. How to improve and perfect the path of institutional construction in China and how to enable institutions to gain threshold speed-up effects have become the major problems the Chinese government faces in institutional construction. The research results of this paper offer a reference to developing countries in regard to improving their institutions and enhancing their green innovation efficiency.

This special issue, “Internet Finance, Green Finance, and Sustainability”, is focused on the prosperous financial industry and the relationship between finance and sustainability. It especially gathers papers pertaining to the hot topic of internet finance and green finance in this field, as well as the manuscripts exploring the operating mechanism between finance and sustainability, both of which are closely linked to the hot spots and pressing demands of society. Therefore, this special issue is of particular valuable for both academic research and the development of society.

This study aims to explore the application of blockchain technology in smart healthcare, establish a hierarchical theoretical framework of smart healthcare, reveal the impact of blockchain on smart healthcare, and finally, construct a development application system of smart healthcare under the blockchain based on stakeholder theory. However, such a hierarchical theoretical framework should consider not only the necessary attributes and the interrelationship among various aspects and attributes but also the role of multiple stakeholders. Therefore, the paper uses fuzzy set theory to filter unnecessary attributes, proposes a decision-making and experimental evaluation laboratory (DEMATEL) to manage the complex interrelationships between various aspects and attributes, and uses Interpretive Structure Modeling (ISM) to divide the hierarchy and construct a hierarchical theoretical framework. The results show that (1) the top-level design, the medical record management, and the doctor management are the root causes of system. (2) The specific application of blockchain in the field of smart healthcare is mainly carried out around the intelligent contract, which relies on the medical record management and is constrained by the system, and optimization of application is the key to system upgrading. (3) The internal and external regulation, the medical insurance, and the environmental governance play a guaranteed role for the development of the system and effectively safeguard the interests of stakeholders. (4) The application system of smart healthcare under the blockchain needs to be built based on three layers: the transaction layer, information layer, and stakeholder layer. The theoretical hierarchical framework is intended to guide smart healthcare towards blockchain applications, and stakeholders are suggested to participate in the development application systems.

Based on the diffusion of blockchain technology in the smart grid, this paper studies the framework and application of the blockchain technology in the smart grid, so as to combine the blockchain with the smart grid and establish a sustainable supply chain. However, the establishment of a sustainable supply chain is based on a layered theoretical framework. Not only should the framework take into account needless attributes and the relationship among various criteria and aspects but the application should also involve a balance of multiple stakeholders. For the above reasons, this paper uses a combination of Fuzzy-DEMATEL and ISM. The results show that (1) the hierarchical path of sustainable supply chain management of the smart grid under the blockchain starts from the social level, pays attention to system construction, grasps the technical standards, and defines the development goals of the power grid. (2) The development of green energy has become a new market growth point. (3) The control of the operation level becomes the focus of the smart grid. (4) The optimization and development of the economic structure are restricted by social factors. By integrating and optimizing the blockchain and supply chain, this paper puts forward a theoretical framework, establishes a sustainable GIP application system with multistakeholder participation at the supply chain level, and indicates the significance of the blockchain in the smart grid.

For countries in the process of economic transition, improvement of industrialization is no longer the sole goal of their economic development. While upgrading the level of industrial development, these countries also gradually attach importance to resource utilization efficiency and environmental protection, which is why green entrepreneurship has become increasingly popular in recent years. With the intensification of policy guidance, a new “sea area” named green entrepreneurship ushers in more and more “treasure hunters” exploring “the treasure” therein. Based on this, this paper constructs the model of “Green Ocean Treasure Hunting” for green entrepreneurial enterprises to analyze the role played by their government’s relevant policies and puts forward the research proposition of this article based on the relevant literature. On this basis, this paper chooses and analyzes a medium-sized, high-tech enterprise in China which follows a certain typical green entrepreneurial process as evidence of the propositions we have put forward.