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Digital transformation and innovation-driven development have become an international consensus. The purpose of this paper is to examine the effects of relationships, mechanisms and economic consequences between digital transformation and enterprise innovation quality in order to provide a benchmark for developing countries to implement digital transformation strategies and innovation-driven strategies and provide a major support for economic recovery in the post-coronavirus disease 2019 (COVID-19) era.

Using microdata from A-share listed enterprises in Shanghai and Shenzhen from 2010 to 2021, this study examines the relationship between digital transformation and enterprise innovation quality and further reveals the internal logic and economic consequences of digital transformation to improve enterprise innovation quality through the mediating effect and moderating effect models.

The results demonstrate that digital transformation is beneficial for improving enterprise innovation quality. The heterogeneity test demonstrates that digital transformation has a larger effect on improving enterprise innovation quality in non-state-owned enterprises and eastern enterprises in China. The mechanism test demonstrates that digital transformation can improve enterprise innovation quality by improving internal control quality and analyst attention. Furthermore, with the increase in enterprise innovation inputs, digital transformation plays a significantly stronger role in improving enterprise innovation quality. The extended analysis demonstrates that digital transformation can significantly improve enterprise financial performance by improving innovation quality.

First, the construction of the core explanatory variable digital transformation index in this study is based on the Python data analysis software, which calculates the frequency of digital transformation in the text of the business situation analysis portion of the annual report of the listed companies and then obtains the degree of digital transformation of the company in this year. There may be some deviation from the degree of digital transformation in the actual production and operation of enterprises. Second, in addition to internal control quality and analyst attention, are there other mediating mechanisms for the impact of digital transformation on the quality of enterprise innovation? Third, whether the moderating effect of innovation input on digital transformation and innovation quality is related to human capital factors of the research and development (R&D) team, such as the technical background of R&D personnel, etc.

This study enriches the relevant theories of digital transformation and broadens the research boundaries of digital transformation and enterprise innovation. This study's result provides an empirical basis for enterprises to improve enterprise innovation quality and financial performance from the perspective of digital transformation at the micro level and points out specific practical directions, combining theory with practice.

The purpose of this paper is to develop a new conceptual life cycle performance measurement system (PMS) based on stage level key performance indicators (KPIs) to measure the performance of build–operate–transfer (BOT) projects.

This study uses a literature review to reveal the deficiencies of existing PMSs for public–private partnership (PPP) projects. Based on these deficiencies, four recommendations were proposed for developing a PMS. The validation of these recommendations was performed via focus group discussion sessions conducted with 12 experts. Then, a conceptual framework was developed based on the validated recommendations and the additional recommendations emerged during focus group discussions. Finally, the recommendations proposed by the focus group were tested by a questionnaire survey, the findings of the Friedman test and descriptive analysis validated these recommendations.

Findings of the focus group discussion, Friedman test and descriptive analysis indicated that the PMS should have four crucial features to develop an efficient, effective and comprehensible PMS for the BOT project. Firstly, non-financial and financial KPIs should be integrated. Secondly, the PMS should be developed as a process-based system with stage level KPIs. The performance of the BOT projects should be monitored and reviewed continuously, however the most important KPIs should be used for continuous performance measurement to increase the applicability of the system and allocate the resources more efficiently.

This survey was conducted on experts who have experience with BOT projects located in Turkey, therefore, judgments of experts might be affected by external factors specific to Turkey such as geopolitical situations, investment environment. However, due to the nature of BOT projects, the experience of experts can also be utilized at the international level.

This is the first time a PMS has been developed to measure the performance of a BOT project. In addition, this system has unique features when compared with the PMS proposed in the literature. Especially, the stage level KPIs and continuous performance measurement with the most important KPIs throughout each stage has never been used. This research provides both public sector and private entities with an insight into effectively measure, control and manage their BOT infrastructure projects' performances throughout their life cycles.