This paper explores the role of AI avatars as an emerging form of interaction in organizational management, especially the research gap in the acceptance and interaction patterns of AI avatars in the context of new employee organization socialization. Through a structured questionnaire and quantitative analysis with a Likert scale, we discuss the impact of the Expectation Violation Theory (EVT) and the Technology Acceptance Model (TAM) on the socialization of new employees.

This context explores the effects of various leadership styles—including pacesetting, visionary, transactional, and transformational—on organizational dynamics and productivity. It examines how leadership approaches are shaped by Chinese cultural values, particularly collectivism, authority, and hierarchical respect, contrasting these influences with Western leadership styles, which tend to emphasize individualism, direct communication, and innovation. The analysis highlights that Chinese leadership is often more directive, aiming for group harmony and stability, whereas Western leaders prioritize individual initiative, open communication, and risk-taking. Additionally, this study investigates how cultural differences influence decision-making, communication, and teamwork, impacting leadership effectiveness across diverse cultural contexts. Ultimately, it underscores the need for culturally sensitive leadership in a globalized environment, which helps organizations enhance performance, innovation, and competitiveness by aligning leadership approaches with cultural expectations.

With the restructuring of China's economy, Environmental, social and governance (ESG) investment concepts are rapidly developing in China. Under the strategic framework of the “dual-carbon” goal, ESG responsibility is not only an indispensable component, but also a necessary way for enterprises to realize financial risk prevention and control, promote green development and enhance effectiveness. The study takes the data of Chinese A-share listed companies from 2013 to 2023 as the research sample, and analyzes the impact of ESG performance on share price changes of listed companies. The study finds that good ESG performance represents stronger risk management capabilities in terms of environment, social responsibility and governance structure, which in turn significantly reduces market volatility. Based on this finding, an ESG disclosure system should be established and optimized in accordance with China's national conditions, so as to guide enterprises to assume ESG responsibilities rationally. In the process of ESG transformation, the importance of internal supervision and risk management should be emphasized to ensure the soundness of ESG transformation, so as to provide strong support for the green transformation and sustainable development of China's economy.

Currently, there is a widespread consensus that modeling the financial system as a network is fundamental for deep understanding and effective management of various phenomena. This article aims to provide a brief introduction to the concept of financial networks and focuses on its two core characteristics: clustering and centrality. This paper will evaluate and analyze the2008 U.S. financial crisis based on two characteristics of financial networks: clustering and centrality. It will discuss in detail how financial networks link and amplify financial contagion. For example, it will examine how the high and low values of the clustering coefficient can lead to different consequences for economies. It will also explore how various types of centralities can cause different impacts and how these impacts align with actual event.

In the digital economy era, digital technologies such as cloud computing and artificial intelligence have brought both opportunities and challenges to enterprises. Understanding how digital transformation impacts business operations and the specific mechanisms involved is of great reference significance for companies. This study, based on a panel data of A-share listed manufacturing companies from 2010 to 2020 and adopting a deleveraging perspective, proposes hypotheses, constructs regression models, and conducts empirical analysis. The findings confirm that digital transformation in manufacturing can effectively enhance corporate performance. In this process, enterprise leverage plays an intermediary role. By leveraging digital technologies, manufacturing companies can effectively mitigate information asymmetry, improve information utilization efficiency and operational efficiency, and reduce risks through deleveraging, thereby enhancing their overall performance.

Social commerce is revolutionizing shopping, using social media channels and consumer feedback to increase engagement, boost marketing effectiveness and drive a better user experience. This research analyzes the effectiveness of engagement metrics, conversions and audience size by optimizing the usage of visual and interactive content and posting at the right time. Predictive analytics also helps to optimise specialized advertising, while personalization of the customer experience and loyalty schemes harness data to build deeper brand relationships. Lastly, gamification, social proof and rewarded referrals are discussed as efficient engagement methods that naturally expand reach and drive user engagement. They report that image, time-based posting, and individualised, data-driven optimization can significantly boost conversion, customer retention and promotional performance. Through leveraging these insights, brands can build a strong social commerce ecosystem to gain, engage, and maintain customers. These findings provide important insight for companies who want to make social commerce more successful with a user-centric, data-based strategy.

Due to the heavy burden of local financing and infrastructure construction tasks, local government financing vehicles (LGFVs) have accumulated significant outstanding debts. Some of these debts, characterized by high borrowing costs, have resulted in substantial interest payment pressures, posing severe short-term liquidity risks and long-term challenges to sustainable development. This paper aims to explore how LGFVs can establish a solid foundation for market-oriented transformation while effectively addressing existing local debt and the default risks of LGFV bonds. By adopting multidimensional indicators to represent liquidity, as well as incorporating bond market adaptability, local government fiscal conditions, LGFV bond characteristics, and local macroeconomic factors, the study examines the relationship between default risk and bond liquidity for LGFVs. Regression analysis reveals that bond liquidity, local government fiscal health, and LGFV bond characteristics all significantly influence the default risk of LGFV bonds, with bond liquidity exerting a pronounced negative impact on default risk. A reduction in the bid-ask spread enhances asset liquidity, thereby mitigating the default risk of LGFV bonds. By analyzing the current state and causes of LGFV debt risks and providing a comprehensive measurement of bond liquidity and default risk, this paper proposes critical pathways and strategic recommendations for LGFVs to build a robust foundation for market-oriented transformation, aiming to serve as a reference for the high-quality development of LGFVs.

This paper systematically explores the investment theories and current practices of Sovereign Wealth Funds (SWFs), aiming to identify and manage their potential risks in order to improve investment returns. By analyzing the development background of sovereign wealth funds both domestically and internationally, the paper highlights their important role in global capital markets and points out their unique investment strategies and operational models, including characteristics such as long-term investment and diversified asset allocation. The paper further examines the internal and external risks faced by sovereign wealth funds, including portfolio risk, foreign exchange risk, political and policy risk, and explores the pressures brought about by global economic fluctuations and financial market volatility. To address these risks, the paper proposes a comprehensive risk prevention strategy, using the Analytic Hierarchy Process (AHP) for risk assessment, and establishes a targeted risk prevention system to facilitate dynamic adjustments and optimized portfolio investment in a complex and ever-changing market environment. Through a case study of China’s sovereign wealth funds, the paper summarizes successful investment experiences and development paths, providing reference for related decision-making. The research shows that scientific risk management and investment strategies not only enhance the investment efficiency of sovereign wealth funds but also have far-reaching significance for the sustainable development of the national economy.

China is a huge force in global sports. Its sports market is booming. Many top brands are raising into China to compete. Anta is a well-developed local sports brand in China and a competitive force in the international market. This research will examine the business model and development strategy of local sports brands in China, using Anta as a case study. This research provides a comprehensive account of Anta’s development history and a detailed analysis of its business model, encompassing production, promotion, and sales. It also offers a clear and concise summary of Anta’s development strategy. The final conclusions are as follows: Anta needs to invest heavily in advertising and technology to promote its products and take full advantages of the domestic market. It should also undertake social responsibility and expand into foreign markets to enhance the brand’s international competitiveness.

The healthcare industry, a key pillar of China’s economy, has shown steady growth driven by expanding revenues and its critical role in national development. Globally, increasing healthcare demand has prompted policies such as healthcare reforms and health promotion programs, fostering growth. Simultaneously, innovations in big data, AI, and biotechnology have advanced precision medicine, telemedicine, and drug development. However, rising competition, the proliferation of SMEs, stricter regulatory standards, and escalating costs pose significant challenges. Amid these dynamics, mergers and acquisitions (M&A) have become a key strategy for Chinese state-owned and central enterprises (SOEs and COEs) to gain market share and accelerate growth. This study examines the M&A landscape of China’s healthcare industry, focusing on SOEs and COEs. It analyzes key drivers, including policy support, market incentives, and synergy effects. To strengthen the empirical foundation of this research, a case study of Boya Bio-pharmaceutical’s acquisition by China Resources Pharmaceutical evaluates the impact of M&A on profitability and operations using financial indicators and post-merger strategies. Results indicate that M&A activities have grown significantly, driven by supportive policies and market demand, yet require post-merger integration to improve financial and operational outcomes. The findings indicate that, in the face of evolving policy directions, rapid market transformation, and intensified industry competition, M&A has become a critical strategy for healthcare enterprises to expand market share, enhance revenue, and drive growth. This is particularly evident in the activities of SOEs and COEs. These trends are closely linked to supportive national policies, market-driven demand, and the significant benefits gained from synergy effects. Financial analyses reveal that improvements in the financial performance of acquired companies are not immediate. Rather, they require post-merger measures, such as resource integration and the divestment of non-core businesses, to gradually enhance financial and operational outcomes. The future trajectory of M&A in the healthcare industry appears promising, with enterprises expected to adopt more rational investment approaches to mitigate M&A-related risks. Cross-border M&A is also expected to enhance international influence and foster comprehensive development.