{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,18]],"date-time":"2026-06-18T23:25:24Z","timestamp":1781825124981,"version":"3.54.5"},"reference-count":84,"publisher":"Emerald","issue":"4","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2025,6,10]]},"abstract":"<jats:sec>\n                    <jats:title>Purpose<\/jats:title>\n                    <jats:p>Digital transformation provides a new impetus for the development of declining firms. However, there is currently a lack of sufficient research on whether digital transformation is beneficial for the turnaround of declining firms. This paper aims to explore the relationship between digital transformation and the turnaround of declining firms.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Design\/methodology\/approach<\/jats:title>\n                    <jats:p>Drawing on the theoretical foundations of the resource-based view and dynamic capabilities theory, this research uses a comprehensive dataset of Chinese A-share listed companies from 2010\u20132021 to explore the influence of digital transformation on the turnaround of declining firms.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Findings<\/jats:title>\n                    <jats:p>The research findings show that digital transformation contributes to the turnaround of declining firms. Mechanism analyses demonstrate that digital transformation enhances dynamic capabilities and attracts more analysts, thereby facilitating the turnaround process. Moreover, the moderation analysis reveals that CEO equity incentives strengthen the positive correlation between digital transformation and the turnaround of declining firms. Heterogeneity analysis indicates that the association between digital transformation and the turnaround of declining firms is particularly significant for firms with low financing constraints and high-tech firms. Moreover, this research reveals that digital transformation can facilitate the turnaround of firms in deep and long-term decline.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Originality\/value<\/jats:title>\n                    <jats:p>This research contributes to the literature on the digital transformation of enterprises and provides important insights for the turnaround of declining firms.<\/jats:p>\n                  <\/jats:sec>","DOI":"10.1108\/bpmj-01-2024-0050","type":"journal-article","created":{"date-parts":[[2024,10,24]],"date-time":"2024-10-24T06:48:14Z","timestamp":1729752494000},"page":"1453-1480","source":"Crossref","is-referenced-by-count":3,"title":["Can digital transformation promote the turnaround of declining firms? Empirical evidence from Chinese listed companies"],"prefix":"10.1108","volume":"31","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-3022-9952","authenticated-orcid":false,"given":"Xiaozhen","family":"Fang","sequence":"first","affiliation":[{"name":"School of Business Administration , , Guangzhou,","place":["China"]},{"name":"Guangzhou Institute of Science and Technology , , Guangzhou,","place":["China"]}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-1661-8564","authenticated-orcid":false,"given":"Fang","family":"Yuan","sequence":"additional","affiliation":[{"name":"School of Business , , Guangzhou,","place":["China"]},{"name":"Guangdong University of Foreign Studies , , Guangzhou,","place":["China"]}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"140","published-online":{"date-parts":[[2024,10,25]]},"reference":[{"issue":"4","key":"2025110417521084400_ref001","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1016\/j.telpol.2023.102522","article-title":"Digitalization and resilience during the COVID-19 pandemic?","volume":"47","author":"Abidi","year":"2023","journal-title":"Telecommunications Policy"},{"key":"2025110417521084400_ref002","doi-asserted-by":"publisher","first-page":"1","DOI":"10.3389\/fpubh.2021.683120","article-title":"Innovation model of China's high-end equipment industry: do social capital and dynamic capabilities matter for the COVID-19 crisis?","volume":"9","author":"Ai","year":"2021","journal-title":"Frontiers in Public Health"},{"issue":"1","key":"2025110417521084400_ref003","doi-asserted-by":"publisher","first-page":"4","DOI":"10.1111\/jpim.12562","article-title":"Digital transformation and innovation management: a synthesis of existing research and an agenda for future studies","volume":"38","author":"Appio","year":"2021","journal-title":"Journal of Product Innovation Management"},{"issue":"1","key":"2025110417521084400_ref004","doi-asserted-by":"publisher","first-page":"178","DOI":"10.1111\/1911-3846.12018","article-title":"Equity incentives and internal control weaknesses","volume":"31","author":"Balsam","year":"2014","journal-title":"Contemporary Accounting Research"},{"key":"2025110417521084400_ref005","doi-asserted-by":"publisher","DOI":"10.1287\/mnsc.2021.02026","article-title":"Helping small businesses become more data-driven: a field experiment on eBay","author":"Bar-Gill","year":"2024","journal-title":"Management Science"},{"issue":"5","key":"2025110417521084400_ref006","doi-asserted-by":"publisher","first-page":"694","DOI":"10.1177\/0149206318811563","article-title":"Should declining firms be aggressive during the retrenchment process?","volume":"46","author":"Barbero","year":"2020","journal-title":"Journal of Management"},{"issue":"1","key":"2025110417521084400_ref007","doi-asserted-by":"publisher","first-page":"99","DOI":"10.1177\/014920639101700108","article-title":"Firm resources and sustained competitive advantage","volume":"17","author":"Barney","year":"1991","journal-title":"Journal of Management"},{"issue":"5","key":"2025110417521084400_ref008","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1002\/hrm.22006","article-title":"The effect of CEO incentives on deviations from institutional norms in foreign market expansion decisions: behavioral agency and cross-border acquisitions","volume":"59","author":"Benischke","year":"2020","journal-title":"Human Resource Management"},{"key":"2025110417521084400_ref009","article-title":"Looking under the hood: quantitative vs qualitative inputs to analyst forecasts of fundamental risk","author":"Bochkay","year":"2017"},{"issue":"2","key":"2025110417521084400_ref010","doi-asserted-by":"publisher","first-page":"179","DOI":"10.1016\/j.jacceco.2017.01.003","article-title":"Are all analysts created equal? 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