In the current economic landscape, businesses are challenged by the dual imperatives of digital transformation and sustainability goals. While digital transformation is often heralded as a catalyst for innovation, its potential negative effects on green innovation remain underexplored. This study fills in this gap by analyzing 1443 listed companies on the Shanghai Stock Exchange main board between 2013 and 2022, focusing on the mechanisms by which digital transformation impacts green innovation and on the moderated role of environmental, social, and governance (ESG) performance. Our findings reveal that digital transformation hinders green innovation by increasing financing constraints. However, good ESG performance mitigates these negative impacts by alleviating financing constraints, thereby fostering green innovation. Our findings hold up against endogeneity tests by applying instrumental variable methods. Notably, the effect of digital transformation and ESG differs significantly between state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). While non-SOEs experience more pronounced challenges, ESG also demonstrates a stronger moderating role, unlike in SOEs, where institutional advantages offset some of these constraints. These findings enhance the understanding of dual transformation challenges, offering practical implications for aligning digital and green strategies in diverse organizational contexts.

India is a fascinating example of an emerging economy which adapts the concept of innovation-based growth to its own specific economic and cultural context. Innovation in India has attracted growing interest among researchers, with a steady increase in the number of published works on the subject and in the number of their citations. The present paper provides a meta-review of the literature on the financing and management of innovation and green innovation in India. The novelty of the analysis is severalfold. Firstly, we highlight the coexistence of universal and India-specific features in the types of innovation and the practices of financing and management of innovation in the country. Secondly, the paper not only summarizes a range of bibliometric surveys and a large number of methodological and empirical papers on innovation in India, but also reviews a unique series of papers associated with the World Management Survey, which compare and contrast managerial practices in India with those in a large number of developed and emerging economies. Our analysis shows that India follows a number of universal approaches to the financing and management of innovation, and that parallels can be established between innovative IT companies in India and Japan. However, India uses many practices that are deemed inefficient in developed countries: the government, not the private sector, is the major supplier of R&D expenditure and green investment; family ownership is a driver of (not an obstacle to) innovation; there is a focus on low-income consumers; and cost-cutting rather than quality competition is the primary innovation technique. In conclusion, we link the India-specific innovation path to various opportunities for fostering green growth in the country.

The article focuses on spatial economic development and regional inequality in the Republic of Kazakhstan, with an emphasis on the factors and policy conditions that create disparities between regions. The empirical analysis is based on a panel of 16 Kazakhstani regions for 2001-2017 (272 observations). The dependent variable is the logarithm of GRP per capita. Modifications of the Spatial Durbin Model (SDM) with fixed and random regional effects are estimated and compared; according to the AIC/BIC criteria and the Hausman test, the fixed-effects SDM is recognised as the preferred specification. Econometric estimations in SPSS and STATA18, along with spatial and GIS analysis in R, are used for preprocessing and classical econometrics. Diagnostics include the Hausman test, checks for heteroscedasticity and autocorrelation, and panel stationarity tests. The analysis identifies dominant spatial determinants of uneven socio-economic development of Kazakhstan’s regions and supports institutional and economic-geographical policies for reducing inequality.

India offers an excellent illustration of a pattern of economic transition when an emerging economy adapts the concept of corporate governance to its economic and cultural environment. A vital component of good corporate governance is corporate governance disclosure, which has received growing attention among researchers of the Indian and BRICS economies. The present paper provides a meta-review of literature on corporate governance disclosure in India. The novelty of the analysis is severalfold. First, we highlight the existence of features in the legal framework of corporate governance disclosure that are similar to developed countries as well as outlining India-specific traits. Second, our paper surveys a range of empirical works on corporate governance disclosure in India to reveal India-specific patterns in the interrelation between disclosure and the financial performance of companies. Third, the paper gives evidence on the special features of corporate governance disclosure in India, using the example of the rapidly developing telecom industry in the country. Telecom may be regarded as a representative industry that reflects the innovative business model in India, the history of liberalization, the increase in competition, and the importance of raising profits and fostering company growth. Our analysis shows that India follows a number of approaches to corporate governance disclosure which are observed in large Western economies and that parallels can be established between disclosure practices and the legislative framework in India and the UK. At the same time, India has a number of unique traits in its corporate governance disclosure practices that may be explained by the special features of its economic development.

This article accounts for multivariate dependence of the variable of policy interest in dynamic panel data models by disentangling the two sources of intertemporal dependence: one from the effect of the policy variable and the other from mean reversion. In a situation where intensity of the policy varies over time, we estimate the unconditional mean in the autoregressive process as a function of the agent’s characteristics and the policy intensity. Comparison of the fitted values of the unconditional mean under different values of the policy intensity enables identification of the policy effect cleared of mean reversion. The approach is relevant for measuring the effect of reforms, which use an intertemporal incentive where intensity of the reform varies over time. The empirical part of the article assesses the effect of hospital financing reform based on incentive contracts, related to the observed quality of services at Medicare hospitals in 2013–2019. We find a direct association between prior quality and quality improvement owing to the reform. Our result reassesses a stylized fact in the literature, which asserts that a pay-for-performance incentive leads to greater improvements at hospitals with lower baseline quality.