Purpose The purpose of this paper is to investigate the roles of online leadership in open collaborative innovation success by extending functional leadership theory in the context of open source projects. Design/methodology/approach This study uses negative binomial regression models to empirically test the proposed hypotheses with samples of blockchain open source projects on GitHub. Findings The results indicate that task-oriented leadership behaviors in forms of technical contributions have little influence on open collaborative innovation success; relation-oriented leadership behaviors embedded in internal social capital and external social capital contribute to open collaborative innovation success prominently. Furthermore, the joint effects of technical contributions, internal social capital and community commitment with openness orientation are positively significant on open collaborative innovation success, respectively. Practical implications For leaders and participants of open collaborative innovation projects, they should attach importance to both leadership behaviors and the joint effects with openness orientation so as to make informed decisions. Originality/value This study offers a new fine-grained framework of open collaborative innovation success by investigating specific dimensions of task-oriented and relation-orientated leadership behaviors, as well as their joint effects with openness orientation.

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In the present situation of difficult enterprise-financing, the equity pledge of corporate controlling shareholders is a effective channel for enterprises to relieve financing constraints. Whether an enterprise can formulate a reasonable investment policy to obtain investment income effectively and achieve financial goals, determines whether an enterprise can develop in the long-tern future. The target of this paper is to approach how the investment efficiency of an enterprise will change with the increase in the portion of controlling shareholder equity pledge (CSEQ), and how the internal control system of the enterprise regulates the contact between controlling shareholder equity pledge and investment efficiency. The article found that the controlling shareholder’s equity pledge (CSEQ) affects the enterprise’s inefficient investment behavior, and the controlling shareholder’s equity pledge ratio has a positive interrelationship with the inefficient investment. According to the previous studies, this paper carries out further research, innovatively introduces the internal control quality index, discusses the influence of internal control quality on equity pledge and investment efficiency sensitivity. The result show that the higher internal control quality can restrain the excessive investment behavior of enterprises

The business environment of an enterprise is changing rapidly. Enterprises need to find suitable investment opportunities in the rapidly changing business environment to promote the long-term growth of enterprise value. Since the outbreak of 2019-nCoV, business environment has undergone major changes, which has a profound impact on the enterprise’s investment behavior. This paper selects A-share listed companies from 2014 to 2018. Based on the study of the impact of environment uncertainty on investment efficiency, the paper analyzes the mechanism of the impact of accounting information quality on this correlation. It is found that when the enterprise is facing uncertain environment, improving accounting information quality can effectively alleviate the inefficient investment of the enterprise.

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