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The development of financial technology has promoted the innovation and digital transformation of commercial banks. Through digital transformation, commercial banks can improve bank efficiency and operational capabilities. Through empirical analysis, this study explored the relationship between digital bank transformation and commercial bank operating capabilities and how COVID-19, bank categories, and enterprise life cycles affect the relationship between digital bank transformation and commercial bank operating capabilities. This study selected data from China's commercial banks from 2011 to 2021 and used the regression method of fixed effects to conduct an empirical analysis. The research results show that the digital transformation of banks has improved the operational capabilities of commercial banks. Further analysis showed that the emergence of COVID-19 has negatively affected their relationship. At the same time, compared with rural commercial banks and commercial banks in the recession and phase-out periods, non-rural commercial banks and commercial banks in the growth and maturity stages play a more vital moderating role in the impact of the digital transformation of banks on the financial performance of commercial banks. The main research object of this study is Chinese commercial banks, and this study examines the results of banks' digital transformation and enriches the research on digital transformation. At the same time, this study is helpful to investors who like investment banks and has good practical significance.
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The article considers the approaches to assessing the financial security of enterprises presented in the literature, determines the rsistance of the textile industry of Uzbekistan to the negative impact of the coronavirus pandemic on the basis of statistical data, and reveals a significant differentiation of textile industry enterprises in terms of financial stability. Based on data on small enterprises in the textile industry of Uzbekistan, a method for assessing the financial security of an enterprise in the post-pandemic period is proposed and tested, taking into account the complex influence of non-financial parameters of economic security and assessing the deviations of the economic situation at a given enterprise from the patterns emerging in the relevant segment of the economy. In this research an econometric model was developed to determine the factors affecting the chemical industry and express their interrelationship, based on the conducted econometric analysis, the directions of development in our country were determined. According to the authors, it is necessary to continue these directions in order to ensure the economic security of industry enterprises in the country. © 2022 ACM.
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Digital transformation, which significantly impacts our personal, social, and economic spheres of life, is regarded by many as the most significant development of recent decades. In an industrial context, based on a systematic literature review of 262 papers selected from the ProQuest database, using the methodology of David and Han, this paper discusses Industry 4.0 technologies as the key drivers and/or enablers of digital transformation for business practices, models, processes, and routines in the current digital age. After carrying out a systematic literature review considering key Industry 4.0 technologies, we discuss the individual and collective ways in which competitiveness in contemporary organizations and institutions is enhanced. Specifically, we discuss how these technologies contribute as antecedents, drivers, and enablers of environmental and social sustainability, corporate growth and diversification, reshoring, mass customization, B2B cooperation, supply chain integration, Lean Six Sigma, quality of governance, innovations, and knowledge related to dealing with challenges arising from global pandemics such as COVID-19. A few challenges related to the effective adoption and implementation of Industry 4.0 are also highlighted, along with some suggestions to overcome them.
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Since the first half of 2020, the COVID-19 epidemic has continued to spread across the country. Based on this background, with the continuous promotion of a new round of technological innovation and industrial transformation, and the combined impact of the epidemic factors, the digital economy has become a new pillar of the steady development of China's macro economy. Emerging industries have provided good opportunities for the digital economy. Cyber security has risen to the height of national sovereignty, which is the direct embodiment of national competitiveness and the foundation for the healthy development of the digital economy. However, with the concentration of massive data and the progress of information technology, the data is easily and conveniently used, personal privacy security, corporate business secrets and even national security suffered serious damage, and network security protection has also become the bottleneck of the digital economy to a new level. It is particularly important to strengthen the network security governance capacity, improve the network security laws and regulations, and implement the hierarchical protection system. © 2023 SPIE.
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Value-added Tax (VAT), a turnover tax levied on the value appreciated in commodities production, circulation and sale, has been widely practiced by economies worldwide for its neutrality. From the international perspective, European Union VAT and New Zealand VAT stand out as characteristic models of VAT development and reform history. With changing economic development models and the growth of e-commerce businesses, VAT systems have been upgraded to meet taxation challenges brought about by the digital economy. Recently, VAT policies and measures have been introduced particularly to combat the COVID-19 impact. In China, the VAT system has been reformed constantly over the past 40 years and has been converging with international practice. China now needs to address emerging VAT issues through legislation, tax incentives, and tax-rate grades so as to meet challenges in VAT collection and management and to suit the "new normal” of economic development. © 2022 Brill Academic Publishers. All rights reserved.
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The Fourth Industrial Revolution has been shaping the new digital economy, platform economy or shared economy (Gandini, 2018;Fleming, 2017), starting with the rise and interconnection among innovations, technologies and devices, like IoT (Internet of Things), artificial intelligence (AI), as digital clouds, additive manufacturing (3D printing), cyber-physical systems, autonomous robotization, etc., which connect people, objects and systems, in an intense data exchange through digital media, at ever-growing speed. [...]a vast reflection and research field emerges, aiming at understanding the new impact of this configuration onto the organizational and work world, as means to identify what is permanent and what is variant, critical issues and potentialities, compromises and contradictions influencing the work processes, work organization, subjectivity construction per se, groups interaction and society cohesion. The fifth article analyses the influence of tele-commuting and management control systems on objective congruence, building on a survey conducted among employees of the Brazilian Federal Public Ministry. [...]we close this issue with a systematic bibliographic review article that aims at analyzing studies connecting Circular Economy and Industry 4.0, in the current worrisome scenario.
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Based on a broad definition of the digital economy, this study constructs a digital technology capital measure-ment framework and measures China's digital technology capital services from 2002 to 2018 to illustrate the growth of digital technology. In addition, the relationship between digital technology and economic growth is examined using the growth accounting method and econometric panel models from the perspective of the substitution and penetration effects of information and communication technologies. The measurement results show that China's digital technology capital services grew faster than non-digital ones from 2002 to 2018. In terms of the substitution effect, the contribution of traditional capital to economic growth is diminishing, whereas digital technology capital's contribution is expanding. Regarding the penetration effect, the contribution of digital technology capital to labor productivity is gradually overtaking that of traditional capital, with the impact varying by sector. These results may provide developing countries with a strategy to seek new devel-opment drivers and sustain economic growth in the post-pandemic era.
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Industry 4.0 is the central topic of numerous publications by foreign and Russian scientists, most of which are conceptual in nature. The current labor market requires the formation of new competencies and skills demanded in the digital economy. Digital reality dictates the need to develop new competencies—digital skills. Knowledge of computer technology, the use of software, and programming have become essential. For most organizations worldwide, the COVID-19 pandemic has accelerated the digitalization and adoption of digital ways of working. The development of new forms of employment (remote and combined) using digital technology will contribute to positive changes in the labor market. Based on these trends in the digital transformation of current society, the research aims to examine the digital skills of employees in the cooperative sector of the economy and their demand in the labor market in the context of Industry 4.0. The authors use descriptive statistical methods to process official data from the Federal State Statistics Service of the Russian Federation and the Higher School of Economics. The research indicates that the transformation of the labor market and forms of employment requires the development of new competencies demanded in Industry 4.0. In the digital economy, employment opportunities increasingly depend on a person's digital skills and competencies. This paper is one of the first comprehensive studies of the changing labor conditions, working environment, and the emergence of new competencies in Industry 4.0. This research contributes to the problem of studying digital skills as a component of human capital and can be the basis for further research in this subject area. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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Digitalization of the economy is one of the factors and manifestations of globalization processes. However, the possibilities which give use of digital platforms in the long term enable the formation of a national information space that is safe from external threats. This study summarizes the current approaches to the classification of digital platforms, their description and functionality, and their importance for the economy. The study focused on modern approaches to the typology of digital platforms and the specifics of their integration into public administration and business structures. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2022
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The exponential development of information and communication technology (ICT) through computer networks, Wi-Fi systems, wireless signals, and information storage systems has contributed to the transition to the so-called new economy, which is becoming increasingly digital and global. Due to the COVID-19 pandemic, teleworking has begun to dramatically change the work dynamics for all stakeholders. The aim of this research was to identify the main impacting factors and their level of influence in relation to the macroeconomic context of teleworking, public policies, and the legal framework regarding quality of life, as well as the effects of teleworking on employees and employers. Through empirical research, we explored the perspectives of employees and employers as main stakeholders who had operated in the teleworking field within Suceava County in Romania during 2020. In this regard, we undertook exploratory research, the results of which were processed using SPSS v.20. The insightful results have practical implications for the labor market, where an obvious increase in the share of teleworking in the total forms of work has already occurred, and the relations between employer and employee are expected to become based more and more on cooperation and less on subordination. The results also revealed an important tendency of employees to appreciate the positive effects of teleworking on other aspects of life.
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This paper attempts to elucidate Vietnam's strategies and policies for fostering digital transformation. Vietnam has made some progress in the digital transformation of its economy but there are challenges to achieving further progress. Business enterprises struggle to adopt digital technologies due to technical, financial and regulatory constraints. These constraints include conversion costs, internal infrastructure resources, data leakages and ineffective regulations. The government has provided support for the digital transformation of enterprises through improvements in its å framework for the digital economy, promotion of science and technology, taxation regime and SME assistance. The government should undertake further legal reforms to support digital transformation, strengthen digital human resources and enhance e-government capabilities.
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PurposeCoronavirus (COVID-19) brought massive economic damage throughout the globe. Economic as well as social set-ups have enormously collapsed. The present paper underlines some economic complications of China during COVID-19. The study also sheds light on initiatives taken by the government of China to fight against such a damaging pandemic.Design/methodology/approachThe study employed secondary research or desk research that involves existing data. The data were collected from reliable sources, described below. The data were summarized and organized to increase the overall efficacy and reliability of the research.FindingsThe study finds that China has confronted many downturns in export and import, GDP decline, blockage of markets and production evaluation. To recover from these unfavorable and adverse circumstances, China has recovered its economy by introducing digital transformation, effective legislations, A V-shaped recovery and A U-shaped recovery in manufacturing and services.Practical implicationsChina's steps and initiatives to invigorate economic developments during a pandemic would be beneficial for other economies facing the severe challenges of economic development, especially after COVID-19.Originality/valueThe present study is one of the rare studies of the domain that offers the guidelines to the policymakers and economists of developing countries to develop their policies regarding the digital economy to face the traditional market's challenges.
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Platform business models emerged with the growth of the Internet in the 1990s and are conceptualized as two- or multi-sided markets, as they facilitate exchange between service providers, clients (business) and workers. This article focuses on the impact of COVID-19 on digital labour platforms, such as freelance online web-based platforms and location-based platforms (transportation and delivery platforms), which have grown exponentially over the past decade. The COVID-19 pandemic exposed immediately some of the vulnerabilities that the workers in the platform economy were facing as they were declared as part of the 'emergency services', and this note explores their conditions during the pandemic.
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The subject of the study is the management of business processes in the conditions of the development of the digital economy. Methodology. The research uses general scientific methods, in particular: theoretical generalization - in the formation of national features of business process management;methods of positive and normative analysis - when analyzing the global experience of business process management in the conditions of the digital economy;statistical analysis - when analyzing investments in the development of digital technologies of enterprises. The goal is to study the global and national experiences of managing business processes in the conditions of the development of the digital economy. Research conclusion. The study of national peculiarities of business process management in the conditions of the development of the digital economy shows a positive trend of adaptation for Ukrainian enterprises. The majority of scientists identify significant advantages in the management of business processes in the conditions of the development of the digital economy and emphasize the inevitability of the transition of Ukrainian enterprises to ensure their competitiveness. The analysis of the use of digital technologies by Ukrainian enterprises showed that the most significant investments are in ensuring interaction with customers, data analysis, management of interaction with employees and business processes, automation and closure of the supply chain, cybersecurity and robotics. Ukrainian enterprises generally show significant success in using the digital economy while increasing the volume of products sold (goods, works, services) through e-commerce, social networks, and Internet platforms. A study of the development of the digital economy in the countries of the world showed an increase in its growth rate during the coronavirus pandemic. It was emphasized that among the global trends that will ensure the development of the digital economy in the future are: cloud computing, big data, the Internet of Things, blockchain, artificial intelligence, virtual reality, and augmented reality is increasingly becoming a new engine of high-quality economic development. A model of interaction of the development of the digital economy with the state, business, and society is proposed.
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The creation of digital ventures in developing countries is an alternative to the generation of jobs in the ICT sector, but the lack of qualified individuals in ICT-related skills inhibits the growth of new companies, a gap that is analyzed with the digital divide theory. This research aims to understand the dynamics using a simulation model that combines aspects of the adoption of ICTS, internet availability, skills, with the entrepreneurial motor of innovation systems. The methodology is developed with data from a national ICT survey and organizations in Colombia. Different scenarios are analyzed regarding ICT education and inclusive policies. Results show that Covid-19 pandemic consequences could have a negative effect during five years and that under a scenario of accelerated growth of ICT, the sector could demand up to 400.000 ICT- related jobs by 2035. The main contribution of this research is the understanding of the ICT systems from an inclusive perspective, identifying the key variables that determine the growth of ventures and the development of digital skills among individuals. © 2023
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The article examines the application of e-commerce systems and technologies that have a positive impact on the development of the economy of the post-coronavirus period and the formation of appropriate technical and technological infrastructure for it, as well as promising features and directions of e-commerce. The physical and virtual opportunities created by e-commerce technologies for buyers and sellers are explained. The advantages of e-commerce in the international economic space have been identified. The functions of e-business models in accordance with the commercial stages of enterprises are explained. It was noted that the development of ICT has accelerated the process of transition from traditional commerce to e-commerce, led to the emergence of new global trends in e-commerce. These innovations have raised the issue of the application of modern ICT in the development of e-commerce on the platform of the 4.0 Industrial Revolution. Taking into account these factors, the presented article discusses the application of modern technologies in e-commerce systems, such as 3D modeling, the Internet of Things, artificial intelligence, big data. Features of application and regulation mechanisms of E-commerce systems in real economic sectors, which have a direct stimulating effect on economic growth in Azerbaijan, have been studied. Recommendations were given for the modernization and use of e-commerce systems with the application of the latest ICT technologies.The purpose of the research. The main goal of the scientific research carried out in the article was to develop the scientific-methodological basis for the regulation of the application of e-commerce systems and the study of perspective development problems in the so-called post-coronavirus period after 2020. In the article, attention was paid to the problems of regulation of the application of e-commerce systems and the development of recommendations on increasing the efficiency of prospective development directions.Taking into account the characteristics of the relevant electronic business models, applying them in accordance with the commercial stages of the enterprises' activities and obtaining effective results were among the main goals. Attempts have been made to implement e-commerce systems based on the developing technologies of the Industry 4.0 platform. An attempt was made to solve the issue of using modern ICT in the development of trade processes, which corresponds to the 4.0 Industrial revolution platform. The main stages of application of modern technologies such as 3D modeling, the Internet of Things, artificial intelligence, and Big Data in electronic commerce systems are described.The following are included among the goals of the conducted scientific research: investigation of the application features and regulation mechanisms of e-commerce systems that have a stimulating effect on the economic development of Azerbaijan in real economic sectors, development of recommendations on increasing the efficiency of electronic commerce systems using modern ICT technologies, etc.Research methods used. In the post-coronavirus period, the following research methods were used in the study of the problems of regulation of the application of e-commerce systems and prospective development directions and in the development of their scientific and methodological bases: a systematic analysis, correlation, and regression analysis, mathematical and econometric modeling methods, expert evaluation method, measurement theory, algorithmization, ICT tools, and technologies, etc.Achievements of the author. Achievements of the author. In the so-called post-coronavirus period after 2020, a special approach was taken to the application of e-commerce systems and technologies, which have a positive impact on the development of the economy as an innovative element, and to the study of its prospective development features and directions. By providing scientific support to ensure the effective formation of the digital economy and its sustainability, the researcher offered relev nt recommendations to achieve the solution to some of the goals set before the country. It should be noted that the development of e-commerce systems based on technologies relevant to the Industry 4.0 platform can give a serious impetus to the development of the sustainability of the digital economy.Due to the fact that e-commerce technologies create new additional physical and virtual opportunities for buyers and sellers, the scientific-methodological approaches proposed by the author develop them as a special tool for ensuring the stability of both e-commerce systems and the digital economy in general. The proposals presented will lead to more effective results for the economy to be more cyber resilient through the application of e-commerce systems in the so-called post-coronavirus era. The researcher showed that the effective application of electronic business models in the activities of enterprises can help to achieve effective results. In the development of e-commerce, solutions to the issues of application of 4.0 Industrial technologies such as 3D modeling, Internet of Things, artificial intelligence, and Big Data can be considered as a contribution to the investigation of solutions to existing problems in economic development. For this reason, the means and mechanisms proposed by the author for solving the problems of regulation of the application of e-commerce systems in the post-coronavirus era can be considered one of the main ways to ensure the stability and development of the digital economy.
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The coordinated development of the digital economy and green economy is a key issue that needs to be addressed. Based on the statistical data of 30 provincial-level regions in China from 2014 to 2019, this study empirically analyzed whether China's digital economy and green economy can achieve coordinated development. In this study, a coupling coordination degree model was used to evaluate the degree of coordinated development of the digital economy and green economy in provincial regions of China. A fuzzy-set qualitative comparative analysis method was adopted to identify the realization path of the coordinated development of the digital economy and green economy. The results show the following: (1) the coordinated development degree of the digital economy and green economy in China shows an upward trend from primary coordination in 2014 to intermediate-level coordination in 2019, with great differences between different regions;(2) there are five paths to achieve coordinated development of the digital economy and green economy, which are divided into two categories (technology–environment dual-drive type, and technology–organization–environment linkage drive type);(3) technological innovation capability and government financial support can substitute for one another under certain conditions to achieve the coordinated development of the digital economy and green economy. These conclusions provide a theoretical basis for countries to formulate policies to promote the coordinated development of their digital economy and green economy.
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PurposeThe COVID-19 pandemic has accelerated the need to embrace digital ways of producing work and reaching audiences in the hard-hit sectors such as performing arts. In the context of post-pandemic recovery, this paper explores the notion of digital performance and proposes a framework for categorisation of digital skills currently associated with the digital making and sharing of performance work. It also aims to review the current digital skills offering in the performing arts training at Scottish universities and suggests strategies to drive accelerated digital skills development in performance education.Design/methodology/approachLiterature on digitalisations, digital skills and digital performance have been reviewed to provide the context and inform the proposed Digital Skills for Performance Framework. Subsequently, a pilot desk-based study selected 15 Scottish Higher Education Institutions in the area of performance and analysed their publicly available programme documentation for the presence of digital skills.FindingsWhile all of the programme specifications mentioned the use of "digital portfolios” and "digital performance”, there was little specific detail concerning "baseline” (transferable) and "specific” (technical) digital skills such as competency in the use of specific technologies. More notably, there was a complete absence of content relating to digital aesthetic identity.Originality/valueUpskilling future performance makers in digital competencies seems particularly important at present. This paper offers a useful categorisation of the digital skills in performing arts context, which higher education programmes can use to update their curricula, prepare the work-ready graduates and explore technological opportunities for the sector's long-term post-pandemic recovery.
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The main purpose of our study is to form a demonstration model of the main processes for introducing digital technologies into the human resources management system for engineering enterprises. Digital transformations are associated with management changes, which are based on the technologies of the Internet of Things, artificial intelligence, blockchain, machine learning, Industry 4.0, Big Data in all spheres of public life. Investing in human capital has always been considered a productive investment. The digital economy has increased the urgency of increasing labor productivity through the transformation of human governance mechanisms. The main and key processes of the introduction of digital technologies in the human resources management system of the engineering enterprise were considered. The digitalization of society has radically changed people's lives and opened up new opportunities in the field of human resources management. The digital transformation of the human resources system affects all types of businesses, from large corporations to small micro-firms. As a result, the key stages and processes of implementation of digital technologies in the human resources management system of the enterprise were presented. The research methodology consisted of the application of modeling and graphical display methods.
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The contribution of SMEs to economic growth is supported by the development of the sharia economy by the government, making SMEs one of the main pillars in Indonesia's economic development. This study aimed to analyze the influence of the digital economy, financial literacy, human capital, the role of Islamic financial institutions, government support for strengthening the Islamic economy and the Islamic financial performance of SMEs in Makassar City, Indonesia. This study used a quantitative method with a survey approach. Data were obtained through questionnaires distributed to 350 respondents with a sampling method. The results of this study indicated that the strengthening of the sharia economy, the Islamic financial performance of SMEs, economic digitalization and financial literacy are determined by factors of human capital, the role of Islamic financial institutions and government support. Regarding human capital, the roles of Islamic financial institutions and government support affect the Islamic financial performance of SMEs with a coefficient of determination of 58.5%. Human capital, the role of Islamic financial institutions, government support and financial performance have a positive correlation with the strengthening of the sharia economy with a coefficient of determination of 71.6%. This study supports the improvement of government policies and the construction of financial facilities in improving the Islamic financial performance of SMEs and encourages the strengthening of the sharia economy in Makassar City, South Sulawesi, Indonesia. The limitation of this research is that the research object was only carried out on SMEs in Makassar City;thus, similar research can be increased at the national level to describe the strengthening of the sharia economy and the improvement of the financial performance of SMEs as a whole in Indonesia.