Photovoltaic industry, as a strategic emerging industry supported by the national policy for a long time, is an important part of new energy industry, which is crucial for China to realize the upgrading of its energy structure and practice the goal of "carbon peak and carbon neutrality". Photovoltaic industry is characterized by long R&D investment cycle, strong scale effect, high risk of technology selection, etc. Therefore, the study of photovoltaic industry can help to explore the development law of emerging industries, and has a strong inspirational role in promoting the transformation of industrial development and the construction of independent innovation of enterprises. Silicon link is the upstream link of PV manufacturing industry, with high technical barriers, and is the most representative link of PV industry. This paper selects all the PV enterprises in the upstream silicon link of the PV industry chain as the research object according to the standards of the PV industry, by combing the industrial development history and technological change of such enterprises, and trying to explore the basic influencing factors affecting their technological routes by focusing on the technological route disputes between mono-crystalline and polycrystalline in the process of their development, creatively identifying the competitive strategies and decomposing them in the perspectives of costs, efficiency, environmental externalities and transaction costs, by constructing the basic factors affecting their technological routes. We creatively identify the competitive strategies and decompose them from the perspectives of cost, efficiency, environmental externalities, and transaction cost, and try to answer the question of what characteristics of technology routes can help enterprises gain competitive advantages from the perspective of the final development of enterprises through the construction of theoretical models and case studies, and then explore the specific influencing factors affecting the selection of different technology routes by enterprises. In this way, we can provide suggestions for improving the development quality of China's photovoltaic industry, realizing sustainable development, and contributing to the rapid development of China's strategic emerging industries.

Culture is the root and soul of a country and a nation. The excellent traditional Chinese culture is an important source of modern socialist culture with Chinese characteristics and an inexhaustible spiritual driving force for the Chinese nation. As our country’s comprehensive national strength unceasingly climbs, the Chinese traditional culture receives increasing attention from people of all walks of life. The cultivation of rice in the south and wheat in the north in China leads to a huge cultural difference, which shapes individual behavior by influencing individual values, and subsequently influences enterprise governance mode and management decisions. Using the data of the origins of the founders of family businesses listed on A-share market from 2008 to 2020, this paper examines the relationship between collectivist culture and family business innovation and its impact mechanism. The results show that collectivist culture inhibits the innovation input of family firms, and the level of family control plays a mediating role. When the market regulatory environment is better and the political association of enterprises is lower, the influence of collectivist culture on innovation is more obvious. This DBA dissertation thoroughly analyzes the specific path that affects the innovative ability of family businesses. It enriches the related research on family business governance and technological innovation, contributes to the empirical evidence of eastern cultural context, and provides reference for strengthening the dominant position of technological innovation in family business and improving the level of regional innovation.

The aim of this dissertation is to examine the factors influencing the franchise value of international banks in the long run. Tobin’s Q ratio (i.e., simplified version, Price to Book value) is applied to measure the franchise value on a dataset of 40-year performance (1981-2021) of the Global Systematic Important Banks (G-SIBs). Factors including the macro, operational, and business factors are analyzed using the fixed effect linear regression models to identify their correlations with the franchise value. The findings indicate that macro factors, such as interest rate, globalization cycle, pattern of global value chain, and stock market performance play a vital role in determining international banks’ franchise value. Macro factors play a more important role than operational factors such as leverage ratio and risk appetite, as well as business scope of a bank measured by business diversification and the scale of business. An analysis of a smaller sample indicates that investment in technology is another main factor driving the franchise value of international banks. In addition, peer group comparison of similar banking models is also conducted for universal banks, investment banks, and Japanese banks separately. Finally, two case studies of the failures of Silicon Valley Bank and Credit Suisse in 2023 are discussed to echo the rationale drawn from the empirical analyses of G-SIB banks.