Strategic management of the efficiency of joint-stock companies under conditions of digital transformation and sustainable development: an integrated approach.

The article explores the strategic priorities for the development of the higher education system in the Russian Federation [9; 23; 24; 26; 11], as well as the directions for enhancing the efficiency of governance in higher education institutions (hereinafter – HEIs) under the conditions of digital transformation (DT). The institutional dynamics of university transformation are analyzed, taking into account their typological structure, level of digital maturity (DM), the extent of digital technologies implementation, and the use of strategic management tools in HEIs. Based on H. Etzkowitz’s Triple Helix model [1; 2], a new managerial paradigm is substantiated, in which universities act as active participants in an innovation ecosystem uniting education, science, business, and the state. The article identifies key differences between digitalization and digital transformation, and systematizes the approaches to assessing the level of DM in HEIs. The research results made it possible to identify pathways for improving the effectiveness of university DT, including overcoming institutional barriers arising during the transformation process, adapting governance models to the realities of the digital economy, and laying the groundwork for the development of a conceptual DT model for HEIs.

Purpose The evolution of digitalisation provides an opportunity for the synergistic effect of pollution control and carbon reduction (SEPCCR), accelerating green transformation. This study aims to investigate the evolution of SEPCCR in manufacturing, the impact of digital transformation on SEPCCR, and how green innovation and green investment can enhance the green benefits of digitalisation. Design/methodology/approach Based on data from all Chinese listed manufacturing companies between 2013 and 2022, this paper innovates the measurement framework for SEPCCR. Drawing upon Collaborative Governance Theory and an Integrated Environmental Management Framework, it examines the impact of digitalisation on SEPCCR by integrating cross-elasticity methods, a coupling coordination degree model, a two-way fixed effects model, and a moderation effects model. Findings Manufacturing SEPCCR has steadily improved. Digital transformation has a positive impact on SEPCCR, as validated by robustness/endogeneity tests. Heterogeneity analysis shows stronger effects in high-polluting, high-energy, and high-tech firms. Moreover, green innovation and green investment, serving as technological support and resource safeguards, significantly amplify the green benefits of digitisation when aligned with digital maturity levels. Research limitations/implications This study, based on data from Chinese A-share manufacturing companies from 2013 to 2022, proposes a novel measurement method for SEPCCR and validates the role of digitalisation in promoting it, along with its implementation pathways. However, the measurement of SEPCCR requires further exploration, particularly as micro-level evidence across countries and industries remains to be extensively collected. Additionally, other potential pathways and channels warrant in-depth investigation. Practical implications This study provides practical guidance for manufacturing enterprises advancing coordinated digital and green transformation. It explicitly proposes that green innovation and investment strategies aligned with a company's digital maturity level can effectively amplify the green benefits of digital transformation, guiding enterprises in precisely planning resource allocation. This research charts a clear path for formulating policies that synergise digitalisation and green development, as well as optimising factor allocation. Originality/value This study innovatively quantifies SEPCCR at the micro level. Based on theoretical frameworks, it reveals the intrinsic logic of digital technology driving SEPCCR and confirms the dual-regulation mechanism of green innovation and green investment. It highlights that the synergistic effect is maximised when innovation and investment levels are aligned with digitalisation levels. This contributes to policymakers implementing enhanced measures to strengthen the effectiveness.

Digital transformation and green innovation are critical to firms’ competitive advantage and, thus, firms desire to make digital transformation enhance green innovation. However, the relationship between the digital transformation on green innovation is unclear. Drawing on digital empowerment, we delineate types of digital transformation and their impacts on green innovation in manufacturing firms. Our empirical results indicate that production digitalization and service digitalization have a significant promoting effect on both of green technological innovation and green management innovation. However, the effect of production digitalization on green management innovation is stronger than that of service digitalization. Moreover, environmental regulation enhances the positive effect of service digitalization on green technological innovation and green management innovation. While it enhances the effect of production digitalization on green management innovation. Peer firms’ green innovation strengthens the effect of service digitalization on both of green technological innovation and green management innovation.

Digital transformation enables small and medium enterprises (SMEs) to reduce or overcome their reliance on resources and energy, thereby minimizing their environmental impact and providing them with sustainable green competitive advantages. However, the reasons for this phenomenon are not yet clear. To further investigate this issue, we selected 391 Chinese SMEs to examine the relationships among green transformation, green innovation, government regulation, and green competitive advantages. Green innovation includes green product innovation and green process innovation, while government regulation includes incentive regulation, constraint regulation, and guidance regulation. The empirical results show that digital transformation can enhance SMEs' green competitive advantages. Additionally, the hypothesized mediating effect of green product innovation and green process innovation between digital transformation and green competitive advantages is supported, while the moderating effect of incentive regulation, constraint regulation, and guidance regulation on the relationship between digital transformation and green product innovation and green process innovation is also confirmed. The findings of this study may contribute to more effective management of digital transformation and green innovation in SMEs, thereby promoting their development.

The theoretical and methodological principles of strategic management of innovative development of industrial enterprises in the conditions of transformational economy and post-war recovery are considered. Modern challenges and barriers to innovative activity in the Ukrainian industrial sector are investigated. A comparative analysis of foreign innovative development strategies adapted to the realities of domestic industry is presented. Practical recommendations for the implementation of effective innovative strategies considering industry specifics are substantiated. As a result of the study, it was found that strategic management of innovative development of industrial enterprises of Ukraine is a key factor in ensuring their long-term competitiveness, especially in the conditions of post-crisis transformation and post-war economic recovery. A systematic analysis of modern innovation strategies implemented in foreign countries showed that the most promising for implementation in the Ukrainian industrial environment are models of open innovation, fruit innovation, digital transformation, as well as industrial symbiosis and circular economy approaches. It is substantiated that the effectiveness of implementing these strategies depends on the ability of enterprises to adapt them to the local context, including resource base limitations, level of digital maturity, availability of innovative infrastructure and human resources potential. The emphasis is on the importance of strategic innovation management as a tool for increasing the competitiveness of industry, accelerating economic recovery and forming an institutional environment for sustainable development. The scientific novelty of the study is established through an interdisciplinary approach to the analysis of innovation strategies and their practical adaptation to Ukrainian conditions. Practical recommendations have been developed for individual industries — mechanical engineering, metallurgy, chemical and light industry, agro-industrial complex — considering the needs of restoring production capacities, increasing energy efficiency and integrating innovations into value chains.

PurposeDigital transformation is crucial for achieving high-quality development in the construction industry. Assessing the industry's digital maturity is an urgent necessity. The Digital Transformation Maturity Model is a potential tool to systematically evaluate the digital maturity levels of various industries. However, most existing models predominantly focus on sectors such as the Internet and manufacturing, leaving the construction industry comparatively underrepresented. This study aims to address this gap by developing a maturity model tailored specifically for digital transformation within the construction industry.Design/methodology/approachThis study leverages the Capability Maturity Theory and integrates the unique characteristics of the construction industry to construct a comprehensive maturity model for digital transformation. The model comprises five critical dimensions: industry environment, strategy and organization, digital infrastructure, business process and management digitization, and digital performance. These dimensions encompass a total of 25 assessment indexes. To validate the model's feasibility and effectiveness, a digital transformation maturity assessment was conducted within China's construction industry.FindingsThe results of the maturity assessment within the Chinese construction industry reveal that it currently operates at the third level of digital maturity (defined level). The industry's maturity score stands at 2.329 out of 5. This outcome indicates that the developed model is accurate and reliable in assessing the level of digital transformation maturity within the construction industry.Originality/valueThis paper contributes both practical and theoretical insights to the field of digital transformation within the construction industry. By creating a tailored maturity model, it addresses a significant gap in existing research and offers a valuable tool for assessing and advancing digital maturity levels within this industry.

This study empirically examines the effect of digital transformation on green technology innovation in Chinese A-share listed companies from 2014 to 2023, while also considering the moderating influence of industrial structure upgrading. Using a sample of 30,970 firm-year observations, digital transformation is measured by the frequency of related keywords in annual reports, green innovation is proxied by green patent applications, and industrial upgrading is captured by the ratio of tertiary to secondary industry. Panel data regression models are employed to test the hypotheses. The research findings indicate that digital transformation substantially enhances the level of green technological innovation in firms, and this positive effect is consistent across multiple green innovation metrics. The upgrading of industrial structure significantly influences the relationship between digital transformation and green innovation, enhancing the innovative impacts of digitalization. Further heterogeneity analysis reveals that the impact of digital transformation varies significantly across regions and firm sizes, with eastern regions and larger firms exhibiting more pronounced effects. This study also finds that the moderating role of industrial structure upgrading is particularly evident in green invention innovation, though its influence on utility model innovation is relatively limited. These findings provide comprehensive insights into how digital transformation and industrial upgrading jointly shape corporate green innovation patterns. The profound integration of digital transformation with green development is essential for enhancing enterprise competitiveness and fostering high-quality, sustainable economic growth. This study offers empirical evidence and specific recommendations for promoting this process at the institutional and policy levels.

Does digital transformation promote local-neighborhood green technology innovation?－based on the panel data of Chinese a-share listed companies from 2011 to 2021

The aim of this exploratory study is to evaluate the level and methods of adaptation of small and medium sized enterprises (SMEs) to the rapid and unforeseen changes during COVID-19 era through digitization and digital transformation. Although the whole world has been affected by the COVID-19 pandemic in general, its impact on the business environment does not show a homogeneous distribution among countries, sectors, and companies. Even if the reasons are variable, the challenges and costs in front of the digitalization of SMEs all over the world are higher than that of large companies. In this context, it is aimed to reveal the knowledge and lessons learned which will form the basis for innovative, managerial, and entrepreneurial practices related to digital transformation initiatives in SMEs. In this study, a series of semi-structured interviews were conducted with the chief information officers and executives responsible for information technologies and digital transformation in three purposively selected small and medium-sized companies in the Aegean region of Türkiye, namely Bakioğlu, Norm, and Ürper respectively. Results for the decision-making processes and practices of the executives regarding the leadership characteristics of information technologies and the decisions taken regarding internal digitalization applications and adaptation to the new work environment during the covid pandemic period are presented. Within the framework of the literature, policy recommendations are provided by analyzing the interaction of their compliance with digital transformation, information management, and corporate governance principles with their strategic management and leadership characteristics. In particular, the interaction between digital maturity levels and digitalization and digital transformation practices is evaluated. In this way, we try to contribute to the advancement of the existing literature by proposing a digital maturity model taking into account the cultural, communication and technological business context.

Strategic management of SMEs is perceived as crucial backbone of their business, as itimpacts their business models and internal processes all the way up to digital innovationmeasured by the level of digital maturity. How do the strategic management factorsinfluence the digital maturity? Through quantitative analysis of 76 respondentsrepresenting SMEs in the Czech Republic, the research data was collected andstatistically tested. Results imply that strategic management factors affect the level ofdigital maturity. This paper contributes to prior literature by practical implementationof modified digital maturity model and by addressing the correlation of strategicmanagement factors and the level of digital maturity. Limitations springing fromsample site and environment are addressed and discussion on the results is conducted.Author proposes a conclusion that strategic management factors can be perceived as adriver of digital transformation, emphasizing the need for future research and practicaldiscussion.

The article considers the key aspects of adaptation of enterprises to changing financial conditions in the conditions of globalization and digital transformation. The authors emphasize the importance of analyzing the external environment, optimizing financial management, diversifying funding sources, as well as the role of internal audit and control in the process of enterprise adaptation. Special attention is paid to the challenges and opportunities that arise for enterprises as a result of digital transformation. The article is based on the analysis of modern research, publications and practical experience of companies. The research findings can be useful for company managers, financial directors, auditors and other specialists in the field of management and finance. The article also emphasizes the need for continuous training and development of personnel in the context of adaptation to digital innovations. Education and training of employees are identified as key elements of successful digital transformation. The authors also consider the issue of corporate culture and its influence on the process of adaptation of the enterprise to changing conditions. The article presents recommendations for the implementation of modern technological solutions, in particular cloud technologies, artificial intelligence and blockchain, which can contribute to increasing the efficiency of business processes and provide competitive advantages in the market. It is substantiated that adaptation to changing financial conditions and digital transformation requires a comprehensive approach that combines strategic planning, innovative technologies and human capital. Only such an approach will allow enterprises not only to survive in conditions of rapid changes, but also to prosper, ensuring stable development and long-term success in the market. The issue of ethics and social responsibility in the conditions of digital transformation is considered. It is important to ensure that innovative solutions and technologies are used in the interests of the community, respecting the principles of transparency, confidentiality and data security. Only a comprehensive approach to this challenge will allow enterprises to reach new horizons of development and ensure their competitiveness in the future.

Predicting future developments is challenging in conditions of global uncertainty, and this is equally relevant for new accounting trends. The role of information and information technologies in the social and economic development of the country is becoming more important each year. Accounting practices evolve as new technologies emerge, and traditional approaches to organizing the accounting process become ineffective. Many owners of accounting firms that provide outsourcing services are experiencing the impact of automation and high-tech systems on their accounting processes. No doubt, it was the Covid-19 pandemic that accelerated the process of digital transformation, bringing these changes to the accounting world sooner than expected. The recovery of business after recent years of periodic restrictions, the very real prospect of bankruptcy in entire sectors of the economy, rising energy prices, declining purchasing power of the population, adapting to Covid-19, social crises and full-scale war in Ukraine with further economic consequences for the entire country - all of these factors have led to an urgent need to optimize and improve many management processes, including accounting. The article analyzes the main trends in the development of accounting in the conditions of digital transformation and their impact on the accounting profession. The most relevant trends in accounting are examined in detail, including remote work, data security, automation of routine processes, introduction of artificial intelligence, changes in pricing approaches and increased role of online marketing in customers acquisition. The recommendations and proposals presented in the research are aimed at substantiating the main trends in the development of accounting in the conditions of modern digital transformation and revealing their impact on the accounting profession. The future of accounting in Ukraine and the world is inextricably linked to the rapid digital transformation taking place in modern business. Trends in this process include the use of artificial intelligence, cloud technologies, blockchain and data analysis. It is predicted that these innovations will make accounting work much easier, while increasing its accuracy and efficiency. However, along with significant advantages, the number of cyber threats will also increase, requiring Ukrainian companies to pay attention to cyber security and ensure data protection. Prospective further research in this direction lies in a comprehensive study of overcoming multifaceted problems in the conditions of the digital economy. In particular, environmental, social and governance (ESG) issues are becoming key issues for global investors, as their views are focused specifically on sustainable development, which opens up ample opportunities to find ways to expand business, including through digital transformations.

The article focuses on the evolution of strategic development management models in organizations, from classical approaches to modern concepts of adaptive and dynamic strategic management. The main stages of the development of strategic management as an independent managerial discipline are examined, beginning with long-term goal planning in the 1950s and culminating in the emergence of integrated strategic management systems in the 21st century. Key theoretical approaches and practical models that have shaped the evolution of strategic management are analyzed, including the BCG matrix, Porter’s model, strategic alliances, ecosystem thinking, and digital transformation. Special attention is given to the evolution from linear planning models to adaptive management systems, which can respond to rapid changes in the external environment. The impact of globalization, technological revolutions, and uncertainty on the transformation of strategic models is explored. Contemporary trends in strategic management are revealed, including the Blue Ocean Strategy, dynamic capabilities, platform-based business models, and sustainable development. The article analyzes the challenges faced by modern organizations in the context of digitalization, climate change, and social responsibility. Methodological approaches to integrating ESG principles (environmental, social, and governance factors) into the strategic models of modern corporations are systematized. The article examines the nuances of strategy formation in the VUCA world (volatility, uncertainty, complexity, and ambiguity), which necessitates a shift from deterministic to probabilistic forecasting models. The role of big data, machine learning, and artificial intelligence in transforming strategic analysis and decision-making processes is also considered. Promising directions for the development of strategic management models are identified, considering the needs of the knowledge economy, the circular economy, and the concept of stakeholder capitalism. The research results can be utilized to enhance the theoretical foundations of strategic management and to develop effective strategic development management models in a turbulent business environment. Keywords: strategic management, development models, management evolution, adaptive management, digital transformation, dynamic capabilities.

In the rapidly expanding realm of the digital economy, the pivotal role of digital transformation in propelling businesses towards sustainable and progressive development is becoming increasingly evident. Examining how digital transformation motivates firms to innovate in green management practices sustainably is essential. Utilizing a dataset encompassing Chinese A-share listed companies from 2008 to 2020, this study empirically examines digital transformation's effects on the ongoing quest for green innovation. Additionally, it delves into the mediating role that green management innovation plays in this dynamic and evaluates how the fit of the innovation ecosystem within a company's regional environment serves as a moderating factor. The findings indicate that digital transformation strengthens firms' capacities for persistent green innovation. Green management innovation is revealed to be an intermediary in this process; meanwhile, aligning the innovation ecosystem's niche within a company's region amplifies the influence of digital transformation on fostering sustainable green innovation. This research offers valuable theoretical perspectives for organizations that leverage digital transformation as a strategic asset for ecologically friendly manufacturing and long-term expansion. This research examines how digital transformation drives sustainable green innovation in businesses, a significant but less-studied area. We aim to uncover the mechanisms influencing innovation, emphasizing the impact of green management and the fit of the innovation environment. We strive to provide empirical insights that enhance theoretical knowledge at the junction of digital strategy and environmental responsibility, guiding corporate practices toward operational efficiency and ecological sustainability. The study intends to foster a corporate ethos by integrating digital initiatives with green innovation and advancing global sustainable development.

The technological source of green innovation has been a persistent theme in environmental economics. In more recent years, digital technology has triggered a new round of social changes and is viewed as the emerging growth engine, leading to significant improvements in productivity and innovation. However, whether digital technology can promote green innovation remains an unknown issue. This study elucidates the causal relationship between digital transformation and green enterprise innovation for Chinese companies during 2009–2019. The findings indicate that digital transformation positively affects the quantity and quality of green innovation performance. Each standard deviation increase in the degree of digital transformation increases the quantity and quality of green enterprise innovation by 2.924% and 2.124%, respectively. Additionally, digital transformation drives green innovation by alleviating financing constraints and information asymmetries and improving human capital. This effect is more pronounced among enterprises in regions with high levels of environmental investment, clean industries, and stringent environmental regulations. By highlighting the linkage between firm-level digital transformation and green innovation, this study contributes to our understanding of the positive environmental externality associated with the diffusion of digital technology and offers valuable insights for the sustainable development of emerging economies.