Utilization of foreign investment in the productive service industry in Hubei province, China and its optimization counter-measures.

The Global Investment Report 2023 revealed that after a sharp decline in 2020 and a strong rebound in 2021, global foreign direct investment (FDI) declined by 12 percent to $1.3 trillion in 2022. However, in developing countries, FDI increased by 4% to $916 billion, a record share of more than 70% of global flows. The number of greenfield investment projects in developing countries increased by 37 percent and international project finance transactions by 5 percent. Foreign investment from China, the second largest recipient of foreign investment globally, increased by 5 percent. The service industry has become the mainstream industry in the global FDI structure. The global industry is accelerating its transformation to a "service-based economy," international FDI in productive service industries has become an essential means of industrial transfer in developed countries and a meaningful way to upgrade the industrial structure and high-quality development in emerging economies. As a representative province in central China, Hubei Province has unique advantages in human capital, factor cost, and market potential, which provide preferential conditions to attract foreign investment. This paper first introduced the concept of the productive service industry, based on the relevant statistical data from 2011 to 2022, focused on the current situation of foreign investment utilization in five major sub-sectors of the productive service industry in Hubei Province in the past ten years, and empirically investigated the impact of foreign investment utilization in five major sub-sectors of the productive service industry on the economic growth of Hubei Province, and obtained that the level of foreign investment attraction varied significantly among the regions in Hubei Province. The three productive service industries, namely transportation, storage and postal services, information transmission, software and information technology services, and financial services, played a significant role in the active attraction and optimal utilization of foreign capital and the economic development of Hubei Province. Based on this, it was proposed to build a market-oriented rule of law and internationalized business environment, improve the infrastructure construction in different regions of the province, focus on the training of professional talents for the development of productive service industries, and pay attention to the improvement of independent innovation capacity.

The impact of digital transformation on enterprise performance: An empirical analysis based on China's manufacturing export enterprises.

Currently, countries worldwide are embracing digital strategies, enabling enterprises to utilize digital technology, digital supply chains, blockchain, and additional digital measures to increase their competitiveness. This paper analyzed the correlation between the digital transformation of manufacturing export enterprises and their business and export performance, focusing on China's manufacturing export enterprises through empirical analysis. The study investigated the influence of digital transformation on enterprise performance. Using the Resource Based View theory and Trade theory, hypotheses were proposed and regression models were developed to analyze a sample of 1007 enterprises listed on the Shanghai and Shenzhen Stock markets from 2012 to 2019. The study conducted regression analysis, intermediate effect test, robustness test, stage lag, and heterogeneity analysis. The study found that (1) Manufacturing export enterprises listed in the stock market implemented digital transformation, leading to a significant positive impact on their overall performance. (2) Digital transformation led to cost reduction, improved R&D intensity, and enhanced human resources, among other benefits for enterprise performance. (3) According to the fractal analysis, non-state-owned enterprises exhibited more favorable effects on enterprise performance, and the digital transformation of manufacturing export companies in developed regions had a more significant impact on their performance. Finally, the study's empirical results yielded pertinent proposals for digital transformation.

The creative behavior of virtual idol fans: a psychological perspective based on MOA theory.

Breakthroughs in digital technology are accelerating the development and commercialization of virtual idols. They are overturning the traditional one-way communication between idols and fans, turning fans into producers and consumers. Therefore, identifying the motivations for fan creation can regulate and guide the creative behavior of fans and turn their creativity into productivity. This paper took "the factors influencing fans' spontaneous participation in creating virtual idols" as the primary research question, took the Motivation Opportunity Ability (MOA) theory as the research framework, used questionnaires as the primary research method, and combined the relevant research on motivation theory and self-determination theory to explore fans' creative behavior from the psychological perspective in depth. The empirical tests revealed that in the motivation dimension, interest motivation, achievement motivation, social motivation, and utility motivation all positively influenced fans' creative behavior; in the opportunity dimension, fans' perceived cost had a significant negative moderating effect on the influence of interest motivation, social motivation, and utility motivation on fans' creative behavior; fans' perceived community atmosphere was substantial. The moderating effect of knowledge and skills on the capability dimension was insignificant. For the virtual idol industry, the future development of the industry could not only focus on IP image creation and content production but also effectively stimulate fans' creative motivation through the creation of an excellent community atmosphere, the provision of targeted creator services, and the reduction of fans' perceived costs in the creation process.