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PurposeThe purpose of this article is to explore the impact of the firm's entrepreneurship for the transformation of circular economy (CE). The role of entrepreneurship is thought to be important for the process of four Rs in the CE, and the authors have tried to study the role and impact path of entrepreneurship in CE.Design/methodology/approachEmpirical data from Chinese listed firms are collected, and a measure of digital technology is constructed by text mining method. Mediation analysis method is used to test the proposed hypothesis.FindingsThe results show that the innovation entrepreneurship has a significant positive impact upon the CE and digital technology is playing a mediating role in the impact path. However, the business entrepreneurship is negatively affecting the CE adoption. Also, the proportion of shares hold by the institution has a heterogenous influence for the innovation entrepreneurship.Practical implicationsThis study guides policy makers about the role of entrepreneurship and the mediating effect of digital technology and to encourage the adoption of CE for firms.Originality/valueThis study reveals the mediation effect of digital technology in the impact of entrepreneurship on CE in the emerging market. The heterogeneity of the proportion of shares hold by the institutions is also analyzed in the empirical study.

AbstractIn this article, we investigate the pricing optimization of firms selling multiple alternatives to the market where consumer purchase behavior follows the linear nested stochastic choice (LNSC) model. As a special case of the nested stochastic choice (NSC) model, LNSC similarly features a two‐step Luce procedure. Considering differentiated price sensitivities in a non‐exact preference function form, the present research specifically shows that, for any product in each nest, the adjusted markup is constant under certain conditions; and the adjusted nest‐level markup is constant among nests under another sufficient condition. The "loss‐leader" effect is observed, which indicates that it may be optimal to price a product with a negative adjusted markup or even a negative margin to attract more attention to the corresponding nest. Based on these results, the pricing optimization can be simplified to a single‐variable problem where the objective function is unimodal. Then, a special case with an exponential preference function is discussed along with its concavity of the total expected profit. The above results are also used to construct the oligopoly multiproduct price competition and characterize the Nash equilibrium. Finally, a series of sensitivity analyses are conducted to reveal the impacts of key parameters on the optimal solutions.