China’s historical mixed-ownership reform (the Reform) has prioritized enhancing the efficiency and financial performance of its large state-owned enterprises (SOEs) through introduction partial private-sector equity ownership. However, presence a significant gap between private enterprises’ corporate social responsibility (CSR) practices those SOEs suggests potential for Reform-related ownership changes to negatively impact economy-wide CSR performance. We therefore examine Reform’s on...

The digital economy is fundamentally altering human productivity and lifestyles, gradually becoming a new engine that drives energy technology transformation optimizes the consumption structure. This paper examines impact of on upgrading structure using panel data from 30 Chinese provinces 2013 to 2019. empirical findings indicate economy’s development can help improve structure, this have threshold effect. Heterogeneity analysis reveals affected by more significant in lower divide regions,...

Based on the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2017 air quality monitoring released by China National Environmental Monitoring Centre, this paper conducts an empirical test relationship between pollution corporate cash holdings. The research found that: first, increases level enterprise Second, there are some differences heavily polluting non-heavy enterprises. impact is more significant non-heavily Furthermore, results show that holdings regardless...

Under the constraints of resources and environment,the encouragement to green technology innovation promotion industrial transformation by design environmental regulation is great significance.However,the existing research ignores different types also ones in regions.Therefore,it difficult put forward targeted differentiated policies then effectively promote transformation.Based on distinction between regions,this paper uses dynamic panel model make a nonlinear effect test transformation.The...

Population aging is increasingly serious. The application of social robots for home-based elder care an important way to solve this problem. Aging adults' demands robots' companionship affect robotic designs. This study aimed investigate and explored in which life situations it was appropriate accompany adults by robots. involved three phases. Phase 1 (an interview survey) collected the lived alone at home. Based on results 1, 2 (a questionnaire investigated companionship, whereas 3 expert...

The core issue for China’s economy to shift from high-speed growth high-quality development is raise total factor productivity (TFP). Based on the data of A-share listed companies 2013 2017 and air quality monitoring released by China National Environmental Monitoring Centre, this paper conducts an empirical test relationship between haze pollution, labor productivity, firm-level TFP using mediation effect model. results show following: First, pollution will reduce a firm’s TFP. Second,...

Based on the data of A-share listed companies in Shanghai and Shenzhen Stock Exchanges from 2013 to 2017 air quality monitoring released by China Environmental Monitoring Station, paper examines impact haze availability company debt financing using fixed-effects model quantile regression model. The empirical results show that: Firstly, has a positive demand financing, effect is marginal increment. Secondly, negative also Further study found that heavy polluting industry characteristics...

ABSTRACTThis paper examines the relationship between extreme climate risks and offering yield spreads using a comprehensive dataset of Chinese corporate bonds issued by publicly listed firms from 2014 to 2020. We find that are positively associated with firms' spreads. This effect is more pronounced for long maturity, in climate-sensitive industries, lower ROE. Two economic channels identified explain on spreads: default risk investor sentiment. Our results remain robust series robustness...

Based on a sample of listed companies in the Chinese A-share market from 2007 to 2016, this paper examines impact government subsidies debt financing companies. The empirical results show that have significant surplus improvement effect company scale, and is more than implicit guarantee scale. Meanwhile, costs financing, financing. Further studies indicate with internal gaps, scale costs.

This paper examines the influence of smog on firm earnings and information content using data Chinese A share listed firms air quality monitoring released by China National Environmental Monitoring Center from 2013 to 2017. The empirical results show that will not only negatively local firms, but also result in a decrease their for market valuations. further tests role size mechanism content. reveal significant moderating effect mechanism, which is reflected large-scale being more likely...

Audit quality usually refers to the that auditing services accounting firm auditors provide an enterprise in form of audit report. This study empirically analyzes impact mechanism smog pollution on quality, based data A-share listed companies Shanghai and Shenzhen Stock Exchanges during period 2013 2017 air monitoring released by China National Environmental Monitoring Centre covering 2018. First, empirical results show can lead a decline quality. Second, time plays partial mediating role...

Due to rapid industrialization especially information industrialization, China is faced with serious shortage of electronic materials, while management system on e-waste has been put the agenda. Guiyu town in Guangdong province, known by international community its improper importing and recycling, this research reviewed past, current status dismantling industry region. It was suggested that efforts should be made through first batch national circular economy pilot projects region promote a...

The linked-pearl pattern on fabric is a key to study the transformation of technique from weaving warp-faced patterns weft-faced in ancient China. However, previous studies were not very clear, and led much misunderstanding. Some researchers believed that Chinese weavers did master until Persian merchants introduced brocades with featuring stringed ball into China along Silk Road. Based historical materials archeological discoveries fabric, we hold there are positive connections among...

Improving China’s high-quality development efficiency represents a key lever for the of new productivity and successfully achieving “dual carbon” goal. Starting from nonparametric production theory, this paper addresses issues infeasible solutions technical heterogeneity by employing total-factor non-radial directional distance function metafrontier Malmquist model. The static index (THEI) its dynamic (MNMHEI) are measured 31 provinces in China 2008 to 2021. Given that is led driven talent,...

Water shortage due to deterioration of water quality is quite serious near Hangzhou Bay. Jiaxing city the Shanghai and city, located at Zhejiang province in South China, which belongs typical area network rivers Taihu watershed. The research provides a primary consideration methodology comprehensively evaluate regional environment social economic system, focuses on system including its location transportation status, summary improve for future generations are given.

Smog pollution in China has drawn worldwide attention. Using companies’ data from Chinese Securities Markets and Accounting Research database (CSMAR) air quality monitoring National Environmental Monitoring Centre(CNEMC), we employ the PM2.5 concentration as a proxy for smog examine effect of on company environmental uncertainty operating investment 74 key cities China. The empirical results show that causes an increase decrease listed companies, with mediating variable. can positively...

This research empirically analyzes the psychological impact of smog pollution on investors. Results indicate that has negative investor sentiment which is weakened by positive tone in media reporting. Empirical evidence for and related moderating role presented this study.