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Xin-Ming He

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Open access Oct 2026

Navigating the Digital Capital Paradox: Whether and How It Impacts Export Intensity

Established firms are making substantial investments in digital capital (DC) – that is, capitalized software and systems – to enhance exports, yet they often face perplexing, even negative returns. We argue that this tension reflects an inherent resource–liability paradox, where DC acts simultaneously as a strategic...

Yu-Ge Dong, Xin-Ming He, Markus Blut · 0 citations

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