An increasing number of traditional enterprises seek transformation, upgrading, and innovation through platform strategies. Therefore, deeply analysing the business model evolution process of platform enterprises is crucial. Through a longitudinal case study of a platform enterprise of the Interior Design and Construction field in China, this study analyzes the business model evolution process from servitization and value co-creation dimensions. It reveals that the development of platform enterprises typically undergoes three stages: initial establishment, platform development, and ecosystem empowerment. The servitization scope encompasses both customers and supply chain enterprises, while the value co-creation model transitions from a chain, network to symbiosis structure. This research elucidates the trajectory of the business model evolution process in platform enterprises, expands the existing theoretical framework of servitization, and introduces an innovative model of value co-creation evolution. It provides a clear theoretical framework for understanding the dynamic evolution process of business models in platform enterprises.

Rapid urbanization poses significant challenges to regional sustainable development, particularly in coastal urban agglomerations balancing economic growth and ecological protection. As a vital engine of the Yellow River Basin, the Shandong Peninsula Urban Agglomeration (SDPUA) faces marked spatio-temporal disparities and eco-environmental pressures. Assessing its sustainability and understanding its complex driving mechanisms are essential for achieving the Sustainable Development Goals (SDGs).This study developed an integrated Economic-Social-Environmental (ESE) framework aligned with 17 SDGs. Utilizing multi-source spatial data from 16 prefecture-level cities in SDPUA, we deployed the Entropy Weight Method (EWM) to evaluate regional sustainability scores. Furthermore, a Coupling Coordination Degree Model (CCDM) was applied to analyze spatial synergies, while an explainable Random Forest Algorithm combined with SHapley Additive exPlanations (RFA-SHAP) was established to uncover non-linear driving mechanisms and non-local spatial effects.The results indicate that: (1) SDPUA’s overall sustainability exhibited a spatial pattern of [e.g., higher scores in eastern coastal areas and lower scores in western inland regions], with the economic domain showing the highest internal variance. (2) Coupling coordination across ESE subsystems steadily improved, transitioning from [e.g., moderate coordination to high coordination], though spatial mismatches between economic expansion and environmental capacity persist. (3) The RFA-SHAP analysis identified [e.g., innovation capacity, green cover, and water resource utilization efficiency] as the primary drivers, revealing non-linear threshold effects where key variables significantly boost sustainability only beyond specific critical values.These findings demonstrate the necessity of moving beyond traditional linear assumptions when formulating urban agglomeration policies. To mitigate internal imbalances, regional governance should focus on targeted, threshold-aware interventions and cross-boundary ecological compensation. This study provides a replicable, explainable machine learning framework for SDG-based regional assessment and tailored sustainability policy design.

Interorganizational trust in public-private partnership (PPP) projects significantly impacts the transaction costs, performance, and operational efficiency of the project, which is the key to safeguarding the quality of engineering projects. Behaviors such as lack of government credibility or speculation by the private sector can erode mutual trust, thus hindering project success. This study examines the dynamic evolution of trust among PPP project participants and stakeholder strategy selection under digital scenarios. We construct a tripartite evolutionary game model encompassing government, private sector, and public entities to investigate how multiple factors influence strategic choices. Based on the system dynamics model, the sensitivity analysis of a single factor, two factors, and multiple factors is carried out respectively. It is found that (1) trust asymmetry negatively affects the cooperation between two parties, yet a digital construction platform can significantly enhance the efficiency of government regulation and the transparency of project information, thereby mitigating this negative effect; and (2) regardless of whether the government regulates or not, the willingness for the private sector to cooperate is relatively strong when both parties have a high degree of trust. Government regulation can effectively inhibit the opportunistic behavior of the private sector, especially in the early stage of the project. However, excessive punishment and regulation may reduce the enthusiasm of the private sector, potentially obstructing project progress. (3) Public participation plays a facilitating role in the cooperation of the project. The aforementioned research is crucial for understanding PPP project management and contributes to advancing PPP projects toward being more efficient, transparent, and sustainable.

Collaborative governance (co-governance) is a crucial pathway and essential strategy for ensuring ecological security and high-quality development in the Yellow River Basin (YRB), which faces complex ecological challenges amid unbalanced regional development. This study employs a three-layer driving chain analytical framework to systematically investigate barriers to ecological co-governance in the YRB through a tiered approach. Firstly, spatial econometric methods are utilized to analyze spatial agglomeration, network strength, and spatial spillover effects, clarifying macro-level associations and driving mechanisms of ecological collaborative governance. Subsequently, tripartite evolutionary game analysis is conducted to explore the intrinsic dynamic logic of barrier factors emerging from micro-level interactions among key actors, supplemented by core driving layer theoretical analysis to investigate obstacles in the co-governance system. The results indicate that, (1) From a spatial measurement perspective, the effectiveness of ecological governance in the YRB exhibits significant spatial correlation, agglomeration, and interaction effects, with insufficient digital governance levels and structural flaws in the green industrial sector identified as key apparent-level barriers. (2) Under stable collaborative conditions, the vertical governance system operates efficiently; parameter sensitivity analysis and model robustness tests reveal that environmental protection costs in production, environmental regulation intensity, and supervision intensity are critical and sensitive parameters, significantly influencing the speed of strategic change and convergence, with the model demonstrating strong robustness. (3) Critically, divergent governance concepts and conflicting regional interests, rooted in disparities in core governance awareness and interests, constitute the most fundamental barriers to ecological co-governance.

Purpose - The purpose of this paper is to address the urgent need for transformation and upgrading in the construction industry amid the accelerating industrialization process. The focus is on understanding how value-added for construction enterprises can be achieved through servitization. Design/methodology/approach - Grounded in the perspective of added value of construction enterprises, this paper uses a multicase analysis method, selecting four internationally renowned construction enterprises as the research subjects. The analysis investigates how these case study enterprises transition toward servitization and explores the trends in servitization in construction. Findings - The research results indicate that servitization manifests in two aspects: contractor transition to servitization, and the shift of the construction industry toward integrated delivery. Furthermore, servitization in construction can achieve value-adding through three pathways: increasing product value, creating market demand and providing customized services. Originality/value - This study contributes by providing insights into the manifestations of servitization and pathways for value-added. It provides a reference for the overall direction and basic strategy of servitization in construction.

The carbon-neutral transition of sewage treatment plants (STPs) is critical for achieving global sustainability goals. However, current STPs confront persistent financial and technical barriers, while Energy Performance Contracting (EPC) projects insufficiently integrate carbon reduction outcomes into their operational frameworks. This study develops a novel benefit allocation framework for carbon-neutral STP-ESCO partnerships by integrating carbon emission reduction metrics into a Rubinstein bargaining game model, which overcomes the "first-mover advantage" limitation in traditional models. Using a real-world STP photovoltaic project as a case study, we quantify the interdependencies between electricity selling prices, internal rates of return (IRR), and benefit distribution ratio. Key findings reveal that: (1) Cooperative feasibility exists only when electricity selling prices and benefit distribution ratios operate within Pareto-optimal thresholds, beyond which negotiations collapse. (2) Higher discount factors (patience levels) significantly reduce sensitivity to counter party parameter fluctuations, enabling stable profit-sharing even under asymmetric bargaining power. (3) Negotiations conclude faster when initial bargaining positions diverge sharply. These results highlight that embedding carbon incentives into EPC contracts and maintaining strategic patience are pivotal for aligning stakeholder interests. The study provides actionable guidance for designing equitable EPC contracts, formulating adaptive negotiation strategies, and advancing policy frameworks that prioritize carbon-inclusive benefit allocation. Its methodology and findings are applicable to other infrastructure sectors pursuing dual objectives of decarbonization and economic viability.

Performance governance is the key to the sustainable development for operation and maintenance of water environment treatment Public-private Partnership projects, and the government’s supervision is an important link. However, the traditional supervision way often brings low efficiency and high cost for government, and Blockchain technology has been put on the agenda. To explore whether Blockchain technology effective for government’s supervision, this study investigates the behavioral decision-making between government and private sector, and an evolutionary game model is constructed to describe the adjustment of one party’s behavior strategy as the other party’s behavior choices. The findings of this study are as follows. Firstly, the usage of Blockchain technology is reflected in supervision and additional costs for government, and the private sector’s strategy choice adjusts with the government’s supervision way. Second, due to the private sector’s profit-driven nature, the additional cost or benefit will motivate them to make strategic choices that benefit them, and the usage of Blockchain technology can really stimulate them to choose to work hard during the projects’ operation and maintenance process. This study provides valuable insights into motivating private sectors to actively participate in projects’ operation and maintenance process, and promoting sustainable performance management.

Implementing water-saving agriculture is an important measure to alleviate water resource shortage, improve agricultural ecological environment, and achieve sustainable agricultural development. However, both water-saving service companies (WSSCs) and farmers often lack the motivation to adopt water-saving practices due to the high implementation costs involved. To overcome this shortcoming, this study aims to design a blockchain-driven incentive mechanism based on the evolutionary game theory, in which the government, WSSCs and farmers are game subjects and the idea of cooperative incentive for the government is introduced. Through analyzing the complex interactions among various stakeholders and agricultural water-saving incentives, some findings of this study are obtained. Firstly, the usage of blockchain technology (BT) in the incentive mechanism for agricultural water-saving is reflected in supervision and additional default costs, which promote the sustainable cooperation among government, WSSCs and farmers in varying degrees. Secondly, the additional default costs brought by the usage of BT have a deterrent effect on WSSCs and farmers, which makes them to actively implement water-saving practices. Thirdly, the additional default cost brought by BT has become the main basis for the government to choose BT supervision. As the additional default cost increases, the government are not more inclined to use BT. It provides valuable insights into motivating diverse stakeholders to actively participate in water-saving practices, promoting sustainable water resources management in agriculture.

PurposeServitization and research and development (R&D) innovation provide new developmental opportunities for transformation in the construction industry. This study aims to explore the transformative impact of servitization and R&D innovation on the value added of the construction industry, offering new insights into industry transformation and growth. Design/methodology/approachThis study utilizes panel data from Chinese listed construction companies from 2014 to 2022 to empirically investigate the relationship among servitization, R&D innovation and value added in the construction industry. The data analysis is augmented by incorporating text mining techniques to rigorously investigate the interplay among servitization, R&D innovation and the value added within the construction industry. FindingsThe research findings indicate that the impact of servitization on value added follows a positive U-shaped relationship, while the influence of R&D innovation on value added exhibits an inverted U-shaped relationship. Additionally, innovation investment plays a negative moderating role in the relationship between servitization and value added. Originality/valueThis study reveals a fresh perspective on how construction companies can leverage servitization as a strategic pathway for transformation and competitive advantage. The research also lays a theoretical groundwork for future innovation investment strategies in the construction industry, emphasizing the need for a balanced approach to innovation investments to maximize value added.

PurposeTrust is the glue that holds cooperative relationships together and often exists in an asymmetric manner. The purpose of this study is to explore how to mitigate the issue of losses or increased transaction costs caused by opportunistic behavior in a soft environment where trust asymmetry is quite common and difficult to avoid.Design/methodology/approachThis study focuses on examining asymmetric trust between the government and the private sector in public-private partnership (PPP) projects. Drawing upon both project realities and relevant literature, the primary conditional variables influencing asymmetric trust are identified. These variables encompass power perception asymmetry, information asymmetry, interaction behavior, risk perception differences and government-side control. Subsequently, through the use of a survey questionnaire, binary-matched data from both the government and the private sector are collected. The study employs fuzzy-set qualitative comparative analysis (fsQCA) to conduct a configurational analysis, aiming to investigate the causal pathways that trigger asymmetric trust.FindingsNo single conditional variable is a necessary condition for the emergence of trust asymmetry. The pathways leading to a high degree of trust asymmetry can be categorized into two types: those dominated by power perception and those involving a combination of multiple factors. Differences in power perception play a crucial role in the occurrence of high trust asymmetry, yet the influence of other conditional variables in triggering trust asymmetry should not be overlooked.Originality/valueThe findings can contribute to advancing the study of trust relationships in the field of Chinese PPP projects. Furthermore, they hold practical value in facilitating the enhancement of trust relationships between the government and the private sector.

Purpose The optimal payment in the whole operation and maintenance period of water environment treatment PPP projects has become the main approach to realize sustainable development of projects. This study is aimed at constructing an effective payment model for the whole life period of projects to achieve win-win among all stakeholders, so as to provide a theoretical reference and managerial implications for the public sector in the whole operation and maintenance period. Design/methodology/approach In the whole operation and maintenance period of water environment treatment PPP projects, this article investigates how the public sector optimizes the payment in the whole operation and maintenance period of projects. Firstly, the projects' whole operation and maintenance period is divided into several stages according to the performance appraisal period. And then, the multi-stage dynamic programming model is constructed to design the payment construct model for the public sector in each performance appraisal stage. The payment from the public sector is the decision variable, and the deduction from the private sector is a random variable. Findings The optimal payment model showed that the relatively less objective weight of public sector leaded to its relatively more total payment and vice versa. Therefore, the sustainable development of the projects can only be ensured when the objective weights both of them should be balanced. Additionally, the deduction from the performance appraisal of private sector plays an important role in the model construction. The larger deduction the private sector undertakes, the smaller profits private sector has. Since the deduction at each stage is a random variable, the deduction varies with the different probability distributions obeyed by the practical deduction in each stage. Research limitations/implications The findings from this study have provided theoretical and application references, and some managerial implications are also given. First, the improvement of the pricing system of public sector should be accelerated. Second, the reasonable profit of the private sector must be guaranteed. While pursuing the maximization of social benefits, the public sector should make full use of the price sharing mechanism in the market and supervise the real income situation of the private sector. Third is increasing the public to participate in pricing. Additionally, it is a limitation that the deduction is assumed to conform to a uniform distribution in this study. Other probability distributions on deduction can be essentially further sought, so as to be more line with the actual situation of the projects. Originality/value The optimal payment in whole operation and maintenance period of the projects has become an important issue, which is a key to project success. This study constructs a multi-stage dynamic programming model to optimize payment in the whole period of projects. Additionally, this study adds its value through deeply developing the new theories of optimal payment to more suitable for the practical problems, so that to optimize the design of payment mechanism. Meanwhile, a valuable reference for public and private sectors is provided to ensure the sustainable development of the projects.

Progress and development in the overall industrial sector have been revolutionized by the advent of advanced digital tools and technologies, transitioning towards Industry 5.0 (I5.0), and the term Construction 5.0 (C5.0) is derived from the emergence of I5.0 in Europe. Given its currency, C5.0 remains a nascent and under-explored research area. This review article presents a bibliometric analysis of studies on C5.0, identifying and analyzing challenges and opportunities in its adoption and exploring the strategies to overcome such challenges and ways to maximize productivity from potential opportunities. Fifty-seven relevant documents were studied to accomplish the aim of this study, which were identified from the Scopus database, evaluated, and included based on the PRISMA framework. The findings showed a relatively small but growing body of literature on C5.0 research, which is disseminated globally and grouped into four specific objective categories. This pattern suggests a growing recognition of C5.0’s potential in the construction field, reflecting its expanding influence in the scientific community. Furthermore, the study examined seven critical challenges, including insufficient technological maturity, the absence of standardization, privacy concerns, ethical considerations, and more. It also explores four potential opportunities associated with the adoption of the C5.0 vision, emphasizing its alignment with societal objectives, sustainability initiatives, personalization, and profitability.

In recent years, the concept of servitization has been widely applied in the management of enterprises. However, changing customer demands and competitive pressures of the market have compelled enterprises to seek innovation. Simultaneously, in the context of the Industry 4.0 trend, the rapid development of digital technologies has led to an increasing number of studies on the integration of servitization and digitization. Therefore, this study, based on VOSviewer, Gephi, Scimago Graphica, and Histcite, analyzes the current state and development trends of research on servitization and product service system innovation from the perspective of value creation. Initially, basic statistical characteristics such as the influential author, geographical cooperation, and highly cited papers are presented by collecting relevant data from the Web of Science core collection database. Subsequently, this study explores the research hotspots and evolutionary trends in servitization and product service system innovation through keyword co-occurrence analysis and cluster analysis. Lastly, from a literature analysis perspective, the application of advanced technologies in servitization, digital servitization from an ecosystem perspective, and the innovative use of microservices architecture in product service systems are summarized and forecasted as research directions, providing theoretical guidance for future research in servitization.

Performance-based payment mechanism is one of the key issues to ensure all stakeholders’ benefits in infrastructure Public-Private Partnership (PPP) projects. However, most existing research on performance-based payment with a fixed incentive coefficient can’t play a good incentive role. This study aims to the intrinsic mechanism between the performance appraisal score and the performance-based payment structure, so as to design the dynamic performance-based payment mechanism for infrastructure PPP projects. Firstly, the multi-objective optimal method is used to calculate the unit-payment. Second, principal-agent theory is used to construct the performance-based payment model with a changeable incentive coefficient. The findings of this study show that, the performance-based payment mechanism can effectively motivate participants to provide high-quality and efficient services, because their remuneration directly depends on their performance. When the outcome does not meet expectations, the amount paid can be adjusted accordingly, thus ensuring the maximum protection of public resources as well as the private sector’s profits. They serve a dual purpose, on one hand, they offer insights to rectify the shortcomings in the current unsatisfactory payment structure. On the other hand, the study provides a theoretical reference for the public sector to effectively incentivize the private sector in enhancing project performance.

Appropriate risk sharing is crucial for the successful implementation of Public-Private Partnership projects. However, under different social systems, the international community lacks a clear risk-sharing framework in Public-Private Partnership research. This study employs a multi-case study method to examine the practice of risk sharing in infrastructure Public-Private Partnership projects within China and the US, aiming to provide a clear risk management framework for Public-Private Partnership projects. The research findings reveal common elements and similar characteristics in risk-sharing practices. Contrary to the goal of transferring all risks to the private sector, both countries actually allocate risks to the party with stronger risk control capabilities or share risks between the government and the private sector. The US benefits from more mature policies and has a comprehensive Public-Private Partnership model implementation framework; in contrast, as an emerging market for Public-Private Partnership models, China's current laws and regulations need further improvement. The results of this study not only contribute to optimizing risk-sharing arrangements and improving investment efficiency of the project, but also promote the development of cross-border infrastructure projects, and provide valuable experience and insights for the sustainable development of global infrastructure.

The performance data of water environment treatment public-private partnership (PPP) projects have the characteristics of multiple data sources, diverse types, and difficulties in integration. Based on existing literature and the characteristics of water environment treatment projects, this study establishes a performance evaluation index system for water environment treatment PPP projects. To address the multitemporal performance data, the data similarity method is employed to integrate multiple time data, while an ordered weighted averaging (OWA) operator is used to integrate multiple spatial location data. For indicator weighting, the OWA operator and overweighted weighting method are applied to allocate weights. Lastly, the Dempster-Shafer (D-S) evidence theory is utilized to evaluate project performance and determine the level of project performance. This model is implemented in the Pingyu County water environment treatment PPP project, yielding an overall performance level of level II (better). Additionally, the model offers distinct performance levels for each indicator, with special purpose vehicle (SPV) company governance B1, water conservancy facilities B3, garden plants B6, and bridges B7 all achieving level III (general). Future managers can concentrate on enhancing these indicators to improve project performance. The incorporation of this approach for integrating multiple spatiotemporal data in performance evaluation enhances the reliability of results and carries substantial practical implications for advancing the sustainable development of water environment governance PPP projects.

Implementing the low-carbon transformation strategy has become an inevitable choice for manufacturing enterprises. However, suppliers often overlook the impact of consumers’ preferences for low-carbon products (LCPs) on their own low-carbon strategies. Based on this idea, this study uses game theory models to analyze how consumer preferences affect suppliers’ decision-making and coordination strategies in low-carbon supply chains (LCSCs). Results show that (1) manufacturers and retailers are more likely to produce and promote LCPs as consumers become more sensitive to carbon emission reduction (CER); (2) manufacturers are less likely to produce LCPs but retailers are more likely to promote them as consumers become more sensitive to promotional rates; and (3) manufacturers are less likely to produce LCPs but retailers are more likely to promote them as consumers become more sensitive to retail prices. This study concludes that consumer preferences play a crucial role in determining suppliers’ decisions and coordination strategies in LCSCs.

Purpose Unbalanced bidding can seriously imposed the government from obtaining the best value for the taxpayers' money in public procurement since it increases the owner's cost and decreases the fairness of the competitive bidding process. How to detect an unbalanced bid is a challenging task faced by theoretical researchers and practical actors. This study aims to develop an identification method of unbalanced bidding in the construction industry. Design/methodology/approach The identification of unbalanced bidding is considered as a multi-criteria decision-making (MCDM) problem. A data-driven unit price database from the historical bidding document is built to present the reference unit prices as benchmarks. According to the proposed extended TOPSIS method, the data-driven unit price is chosen as the positive ideal solution, and the unit price that has the furthest absolute distance measure as the negative ideal solution. The concept of relative distance is introduced to measure the distances between positive and negative ideal solutions and each bidding unit price. The unbalanced bidding degree is ranked by means of relative distance. Findings The proposed model can be used for the quantitative evaluation of unbalanced bidding from a decision-making perspective. The identification process is developed according to the decision-making process. The finding shows that the model will support owners to efficiently and effectively identify unbalanced bidding in the bid evaluation stage. Originality/value The data-driven reference unit prices improve the accuracy of the benchmark to evaluate the unbalanced bidding. The extended TOPSIS model is applied to identify unbalanced bidding; the owners can undertake objective decision-making to identify and prevent unbalanced bidding at the stage of procurement.

The performance-based payment structure has been widely used in infrastructure PPP projects. However, existing research has been absent on the structural unbalance problem of performance-based payment in the current infrastructure PPP projects. This study aims to construct an optimal proportion of the performance-based payment in the total payment, and then design a performance-based payment structure for infrastructure PPP projects. Firstly, the definition of the performance-linked rate is introduced to characterize the proportion of the performance-based payment. Secondly, based on the different objectives of the maximum social benefit and the minimum cost for the public and private sectors, a multi-objective optimization model is constructed to obtain a reasonable value range of the performance-linked rate. Thirdly, the impacts on different parameters in the performance-linked rate are revealed using simulation methods. Finally, the numerical and simulation results show that, for the weak social average ability, the social cost is also high, and a large performance-linked rate should be set. Conversely, when the social average ability is strong, the social average cost is relatively reduced, and a relatively low performance-linked rate should be set. Consequently, the results can guide the contract design in PPP projects.

To scientifically evaluate the implementation of the River Chief System (RCS), accelerate the overall improvement of the water ecological environment, and promote the sustainable development of river and lake functions, this study selects 26 evaluation indicators from six aspects, including the effectiveness of organization and management, the effectiveness of water resources protection, the effectiveness of water environment management, the effectiveness of water pollution prevention and control, the effectiveness of water ecological restoration, and the effectiveness of the management of the waterside shoreline, and establishes an evaluation system for the effectiveness of the implementation of the RCS. Among the 26 indicators, data for the qualitative indicators mainly come from a series of statistical yearbooks and RCS reports, while data for the quantitative indicators are obtained through scoring by more than 20 experts and calculating the average. The CRITIC objective weighting method is improved from three aspects of comparison intensity, correlation coefficient, and degree of variation, and the subjective weighting of indicators is carried out using the AHP 1–5 scale method. The optimal linear combination of subjective and objective weighting results is obtained using the combination weighting method with game theory, which is auxiliary to the set pair analysis. Considering the “certainty” and “uncertainty” in the evaluation process, the four-element connection number model of set pair analysis is established to evaluate the implementation effect of the RCS in Henan Province from 2018 to 2021. The results show that the implementation effect of the RCS in Henan Province improves year by year and reaches excellent in 2019. The results of this study can be used as a reference for evaluating the work of the RCS in other regions and can also provide a reference for the study of evaluation problems in other fields.