In the digital era, the sports industry is undergoing substantial transformations, with digital efficiency emerging as a vital force for economic expansion and significantly impacting the financial results of sports activities. This investigation aims to explore the critical link between digital productivity and the economic consequences of sports events, as well as the influence of digital advancements on business tactics and value creation within the sports field. Through a theoretical analysis, the study highlights how digital productivity enhances resource management, introduces innovative business models, and intensifies audience engagement and participation, fostering a comprehensive growth in the sports economy. The empirical part of the research selects several exemplary sports events to examine economic performance before and after digital transformation, confirming the essential role of digital productivity in boosting event revenues and improving audience interaction. Additionally, it spurs local economic activities. The paper provides strategic guidance on the seamless integration of the sports industry with digital technologies, aiming to offer a theoretical foundation and practical recommendations for the industry's ongoing development. The emergence of digital productivity presents unprecedented opportunities for the sports sector, redefining event administration and driving the prosperity of the sports economy. This study offers an in-depth analysis of how digital improvements can enhance the economic vitality of sports, including superior user experiences, wider event dissemination, and the promotion of sports goods and service transactions. Comparative analyses demonstrate that digital transformation significantly enhances event financial returns, as seen in notable increases in ticket sales, sponsorship revenues, and broadcasting rights fees. Furthermore, digital innovations broaden the reach of the sports industry, introducing novel formats such as virtual reality (VR) viewing, online fitness communities, and e-sports, which create new avenues for economic growth. The theoretical perspectives and empirical results in this paper firmly support the notion that digital productivity is a pivotal facilitator of progress in the sports economy. By embracing digital transformation, the sports industry can more effectively adapt to market changes, thereby strengthening its competitive position and supporting sustainable growth. Therefore, the paper advises sports leaders and decision-makers to proactively utilize digital resources, increase investment in digital platforms, and enhance the production and dissemination of digital content to ensure the long-term prosperity of the sports economy.

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The performance of city commercial banks (CCBs) is consistently regarded as a key criterion for assessing their competitiveness within the industry. The continuous pursuit of performance growth remains a fundamental objective for every city commercial bank. This study examines the impact of internal risk governance, along with various internal and external factors, on the performance of CCBs. A total of 35 city commercial banks were selected for analysis from 2011 to 2022, categorizing the samples into state-owned and non-state-owned groups based on ownership structure. A two-way fixed-effects model was employed for this analysis. The findings indicate that: for state-owned banks, the improvement of internal risk governance has a greater positive impact on bank performance than for non-state-owned banks; for state-owned banks, income diversification has a positive effect on bank performance, while for non-state-owned banks, the impact of income diversification on bank performance is negative but not significant; this study also finds that the higher the proportion of non-state-owned holdings, the higher the bank performance.

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Heritage and innovation are the core issues for the sustainable development of China’s time-honored brands. Based on the perspective of value co-creation, this paper takes Changyu Wine Industry as a case study and employs a single-case research method to explore the mechanisms of heritage and innovation in time-honored brands. The activation of a time-honored brand can be divided into three stages: the revival of products, the innovation of business models, and the activation of culture. Each stage exhibits different aspects in terms of heritage, innovation, and value co-creation. Time-honored brands can leverage their rich cultural resources, combined with digital technologies and innovations, to invigorate the vitality of their brand.

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In recent years, the performance of global industrial enterprises in the areas of Environment, Social, and Governance (ESG) has gradually become an important indicator for measuring their sustainable development and competitiveness. However, the ESG evaluation system for industrial enterprises is still underdeveloped, and there is a gap in research regarding the role of the evaluation index system in enhancing corporate competitiveness. This paper finds that a reasonable ESG evaluation system can not only improve the environmental and social responsibility awareness of industrial enterprises but also significantly promote the enterprise's brand reputation, resource integration capacity, and market competitiveness. This study provides theoretical support for improving the ESG evaluation standards for industrial enterprises and offers practical guidance for enhancing corporate competitiveness, which is of significant practical importance.

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