Digital financial capabilities and household entrepreneurship

This study investigates the impact of digital financial capabilities on household business ownership and business innovation.Utilising the 2015 China Household Finance Survey(CHFS)data,this paper constructs robust capabilities scores and finds positive associations between digital financial capabilities and household entrepreneurship.After specifying instrumental variables,the results still hold.In addition,we compare the driving forces of the impact through componential dimensions,and discuss the differ-ent function channels that digital financial capabilities affect busi-ness ownership and business innovation.What’s more,we add the interaction term of digital capability and financial capability,illus-trate its role in improving the goodness of fit of the models,and further discuss the interaction effect both generally and at each level of the capabilities scores.Finally,we conduct robustness checks across socioeconomic groups and provide policy implica-tions.This study highlights the different function channels of digital financial capabilities concerning different entrepreneurial activities,as well as the importance of interaction effect in under-standing how digital financial capabilities affect household entrepreneurship.

The Formation Mechanism of an Enterprise’s Digital Intelligence Transformation Capability:A Case Study on“Knowledge-Action Oneness”in Haier

The rapid development of big data,artificial intelligence(AI),and blockchain technology makes the digital intelligence transformation of an enterprise possible.Based on the case study of Haier Group,this paper attempts to address the rationales behind building up the capability of digital intelligence transformation of enterprises by means of the traditional Chinese idiom,“knowledge-action oneness.”The result indicates that the learning process is an important factor for an enterprise to form its digital intelligence transformation capability.It is a process of mutual coupling between digital knowledge and digital actions.As a result of such a unity,different learning subjects form their corresponding digital intelligence transformation capability through their own learning process of mutual coupling of knowledge and action:Leaders form digital strategic capabilities through the mutual coupling of strategic knowledge and actions;employees form digital absorption capabilities through the mutual coupling of scenario-based knowledge and actions;teams form digital integration capabilities through the mutual coupling of integrated knowledge and actions;and the whole organization forms digital,eco-systemic capabilities through the mutual coupling of institutionalized knowledge and autonomous actions.Such a multi-level digital intelligence transformation system requires efforts from everyone in the enterprise.