The global epidemic of COVID-19 has made a huge impact on global health and financial markets. And the spread of the virus has stalled economic development in many parts of the world. As stocks and bonds are two important financial assets, how to take appropriate economic policies to restore the stock and bond markets is the focus of governments as they are seeking for quick recovery. Based on the Event Study method and the GARCH model, data from 1 October 2019 to 1 April 2020 were collected from 26 countries or regions as analytic samples. The results show: 1) COVID-19 has made greater impacts on the stock market than the bond market; 2) the economic policy responses after the COVID-19 has brought impacts on both of the stock and the bond markets; 3) the monetary policy responses has brought greater volatility to the stock market than the fiscal policy responses, while the fiscal policy responses has brought greater volatility to the bond market than the monetary policy; 4) the fiscal policy has brought more positive effects on the stock market, and monetary policy has brought more positive effects on the bond market. This research is helpful to understand the mechanism of COVID-19’s impacts on the stock and bond market. And it is of great practical significance to the governments’ decisions to make economic policy responses after an epidemic.

Online community marketing and social media influencer marketing have aroused the interest of many researchers and practitioners around the world. Companies building online content communities to implement community marketing and influencer marketing has become a new corporate strategy, especially in the tourism and hotel industries in which experiential products are sold. However, based on the content community, maintaining the sustainable development of a consumer advice network composed of opinion leaders and consumers is a major challenge. This paper selects the travel content community of Qunar.com as the research object to study the role of opinion leaders in the sustainable development of corporate-led consumer advice networks (CANs). Empirical evidence based on network evolution data from 1356 “Hotel Sleep Testers” across 11 years shows that: (1) the creation and provision of information can obviously increase the probability of the relationship construction and increase the number of relationships, thus facilitating the formation of opinion leadership (OL); (2) active participation in interactions and withhigh-quality information brings greater effects; (3) the network structure variables, such as preferential attachment, structural equivalence, and similarity, can also better predict the probability of a potential relationship; and (4) reciprocity in consumer advice networks has no significant impact on the establishment of network relationships.

Objective: To explore the underlying motivations that prompt healthcare professionals (HCPs) to engage in social-media health communication and to construct a competency framework explaining how they develop and sustain this activity. Methods: We employed grounded theory and qualitative content analysis, conducting semi-structured in-depth interviews with 28 verified HCPs on major Chinese platforms (Douyin, Weibo, Zhihu, Xiaohongshu). Open, axial and selective coding mapped the resulting categories onto the classic Onion Model. Results: Coding generated 237 initial concepts, 33 first-order categories, and eight axial competencies, which were organized into a three-layer competency framework: Motivation layer highlighting intrinsic drivers such as achievement motivation, mission-driven purpose, and constructive responses to burnout; Personal Identity & Roles layer encompassing key traits, evolving role identities, and collaborative teamwork; and Professional Competencies layer covering medical expertise, digital skills, information literacy, and communication proficiency. This framework clarifies how HCPs sustain effective engagement despite tightened regulation and limited financial return. Conclusion: HCPs’ presence on social media is driven by intrinsic motivation and enabled by a layered mix of personal and trainable competencies. The proposed framework offers actionable guidance for hospitals, professional bodies and platform operators seeking to design training, recognition and policy mechanisms that foster high-quality, trustworthy digital health communication.

Blockchain is being pursued by a growing number of people with its characteristics of openness, transparency, and decentralization. At the same time, how to secure privacy protection in such an open and transparent ledger is an urgent issue to be solved for deep study. Therefore, this paper proposes a protocol based on Secure multi-party computation, which can merge and sign different transaction messages under the anonymous condition by using Pedersen commitment and Schnorr Signature. Through the rationality proof and security analysis, this paper demonstrates the private transaction is safe under the semi-honest model. And its computational cost is less than the equivalent multi-signature model. The research has made some innovative contributions to the privacy computing theory.

As more and more digital technologies are used in healthcare organizations, the way healthcare workers work and doctor-patient communication are changing. These changes will lead to identity change of healthcare workers. Some scholars try to understand technological changes in terms of the affordance theory. However, there are few relevant studies that incorporate specific application scenarios. In this paper, we explore the specific performance of the digital technology affordance and the impact on healthcare workers’ identity in China. We conducted in-depth interviews with 14 healthcare workers and used grounded theory to summarize three kinds of digital technology affordance, namely functional affordance, process affordance and performance affordance. The findings suggest that on the one hand, digital technology affordance increase the efficiency of healthcare workers and enhance collaboration among colleagues, thus reinforcing the healthcare workers’ identity. On the other hand, over-reliance on digital technology may also lead to unnecessary hassles that worsen healthcare workers’ identity. Our study enriches the affordance theory and identity theory, and has constructive implications for the quality of healthcare services in a digital context.