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Background: The advent of Personalized Medicine (PM) holds significant promise in revolutionizing healthcare by tailoring treatments to individual patients based on their data. However, its successful implementation requires the seamless integration of innovative technologies and presents formidable challenges in terms of sustainability. To tackle these challenges head-on, the International Consortium for Personalized Medicine (ICPerMed) was established, and the IC2PerMed project, as part of this consortium, seeks to foster collaboration between the European Union (EU) and China in the field of Personalized Medicine. Based on the results collected by the project, the objective of this study is to discern the key priorities for the implementation of Personalised Medicine concerning Information and Communication Technologies (ICT) and Big Data and digital solutions, with a particular emphasis on data management and protection. Methods: A Delphi survey was conducted to gather expert's consensus on the main priorities for actions on Information and Communication Technologies (ICT) and Big Data and digital solutions in the field of Personalized Medicine. Results: The survey identified seven priorities in the area of Big Data and digital solutions, including data interoperability, standards, security measures, and international partnerships. Additionally, twelve priorities were identified for the innovation-to-market process, emphasizing cost-effectiveness, need assessment, and value definition in resource allocation. Conclusions: The effective implementation of new technologies in Personalized Medicine research and practice is essential for the advancement of healthcare systems in both the European and Chinese contexts. The identified priorities play a pivotal role in promoting the sustainability of health systems and driving innovation in the implementation of Personalized Medicine. Addressing challenges related to data interoperability, standards, security, international collaboration, cost-effectiveness, and value assessment is of utmost importance in order to propel the progress of Personalized Medicine in healthcare systems. [ABSTRACT FROM AUTHOR]

The innovation capability largely determines the initiative for future development of a region. Higher school is the main position for training innovative talents. Accurate and comprehensive assessment of innovation cultivation capability is an important basis of higher schools for continuous improvement. Thus, this paper focuses on assessing innovative talent cultivation capability. First, by CIPP model (Context, Input, Process and Product Evaluation), an assessment indicator system is built, consisting of 89 indicators in 21 categories. Then, based on indicator characteristics, this paper uses public data statistics, database retrieving, student survey, teacher survey, support personnel and expert investigation, to collect indicator values. After this, by a powerful machine learning algorithm, gradient Boosting regression tree, a capability assessment model is established. And based on collected data, established model is compared with several regression models in innovative talent cultivation capability assessing. Results confirm the performance superiority of our solution.

Using combined data from the 2011–2013 China Industrial Firm Database, China Industrial Firm Pollution Emission Database, and provincial-level digital financial inclusion index, this paper investigates the impact of digital finance on firm pollution. The authors find that digital finance significantly reduces firm SO2 emission intensity. The inclusive finance attribute of digital finance is conducive to alleviating firm financing constraints and promoting firm transformation and emission reduction. Furthermore, digital finance reduces pollution through innovation compensation. Digital finance mainly affects private firms and small and medium-sized firms, while it mainly plays its role through depth of use, digital payments, and digital credit. The basic conclusions of this paper are verified by using the Internet development level and the spherical distance from Hangzhou, as instrumental variables. This paper has important policy implications for developing countries using digital financial tools to promote green economic transformation and high-quality development. [ABSTRACT FROM AUTHOR]

Technological innovation is the key to develop wind power and photovoltaic power industries. The feed-in tariff (FIT) policy, as a demand-pull policy, is important to support renewable energy technological innovation. Using the "difference-in-differences" method, this paper investigates the impact of FIT policy of wind power and the impact of the FIT policy designed according to differences in the distribution of resources on wind power technological innovation. The findings show that the FIT policy can drive patenting in wind power technologies during the implementation period, but may play a relatively weak promoting role in technological innovation in the latter term, and the FIT policy designed according to differences in the distribution of resources also stimulates more patent counts. Finally, based on the fixed effect negative binomial regression model, this paper finds that the higher feed-in tariffs can increase the patent counts in photovoltaic power technologies. [ABSTRACT FROM AUTHOR]

The relationship between environmental regulation and innovation has long been a key issue of scholarly interest. The Porter hypothesis posits that environmental regulations can effectively promote innovation. However, with the rapid development of the Internet, the relationship between environmental regulation and innovation has changed. Through a theoretical analysis, this paper finds that the development of the Internet can not only directly promote innovation but also inhibit innovation through environmental regulations. This paper uses Chinese city-level data from 2014 to 2016 to empirically test the relationship among the Internet, environmental regulation, and innovation. The study finds that (1) the increase in the Internet level and in the intensity of environmental regulations promotes innovation, and the results remain stable after the replacement of the Internet level metrics, (2) the increase in the Internet level inhibits the positive effect of environmental regulations on innovation, but its inhibitory effect is lower than the promotion effect of the Internet on innovation, and (3) the Internet and environmental regulations have a significant promotion effect on the application and acquisition of three types of patents, including invention patents, utility model patents and design patents, with the application and acquisition of utility model patents having the greatest promotion effect, and (4) the analysis of heterogeneity shows that environmental regulation has a greater effect on innovation in eastern and provincial capital cities, and the Internet has a greater effect on innovation in western and nonprovincial capital cities. Finally, this article puts forward policy recommendations based on three aspects: strengthening Internet construction, implementing environmental regulations and policies based on local conditions, and increasing support for R&D and innovation. [ABSTRACT FROM AUTHOR]

The implementation of the research results is seen as a crucial step in the development of innovation in the transport sector. Moving to such an implementation is not always easy or straightforward. It requires a suitable organizational framework both inside as well as outside research producing entities and a number of other facilitating factors that are usually found within an innovation ecosystem. The paper examines systematically the conditions and prevailing practices for transport research implementation in Europe (the European Union) and China and draws useful insights as to the factors that influence such implementation, the incentives, and other facilitating provisions that the research funding organizations can take. It also analyses the current practice and lessons learned for research implementation on the road to innovation production in four major areas of transport research namely: Automated Mobility, Intelligent Railways, Shared and Micromobility applications, and Electromobility. [ABSTRACT FROM AUTHOR]

In this paper, we identify product market competition as a driver of privatization. Using product market shocks caused by trade liberalization of China, which has the world's largest state sector, we find that subjecting state-owned enterprises (SOEs) to higher competition leads to an increase in private ownership. This response is strengthened when SOEs operate in industries with large technology or productivity gaps from those in the frontier economies or when SOEs impose large fiscal burdens on local governments. Our findings are consistent with politicians' incentives to boost economic growth for better career development and to shed burdens when rents decrease. This paper was accepted by Tomasz Piskorski, finance. Funding: C. Lin acknowledges financial support from the National Natural Science Foundation of China [Grant 72192841]. Q. Hu acknowledges financial support from the Fundamental Research Funds for the Central Universities and the Renmin University of China [Grant 21XNF002]. W. Li acknowledges financial support from the Major Project of the Ministry of Education [Grant 22JZD007] and the National Natural Science Foundation of China [Grant 72132002]. L. Wei acknowledges financial support from the Research Grants Council, University Grants Committee [Grant 13501619]. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2023.4847. [ABSTRACT FROM AUTHOR]

To ensure sustainable development, there is a limit to the extent of urbanization. Thus, rural development is an essential strategy that many nations must work on to ensure optimal economic, environmental, and social outcomes at a country level. However, rural development in itself is challenging because rural communities typically have limited resources and capabilities to address common livelihood challenges, let alone take on new economic roles. Hence, as part of rural revitalization strategies, innovation plays a critical role. A wide range of technologies can facilitate innovation in rural development, including the internet and new agricultural technologies. In addition, new mindsets and shifts in values, such as the changing trends of work and consumerism, can create opportunities for rural areas to adopt innovation and develop new growth engines. However, it should be noted that the nature of innovation in rural and urban settings are different. In rural regions, growth could be enabled through more specific types of innovations, including frugal innovation, inclusive innovation, and social innovation. To enable these forms of innovations in rural areas, this paper proposes a three-dimensional process model that includes pro-social technological innovation policy, rural innovation governance, and dynamic networks that close the gap between rural and urban innovation systems. Examples from China, such as the development of Tengtou Village and Taobao Villages serve to demonstrate these concepts. Overall, the discussions in the paper suggest that to enable innovation in rural development, it is necessary to foster closer interactions between rural and urban innovation ecosystems for the former to leverage the latter's technologies, networks, and resources. [ABSTRACT FROM AUTHOR]

Digital transformation (DT) is a strategic priority for commercial banks in China. It is important to explore the relationship between DT and bank systemic risk to maintain financial stability and promote high-quality development of banks. Based on the data of China's listed commercial banks from Q3 2010 to Q1 2022, this paper empirically tests the influence mechanism, heterogeneity influence and action channels of DT on bank systemic risk. This paper finds that DT reduces the bank systemic risk. The higher the degree of DT, the lower the bank systemic risk. Innovation effect and cost effect play multiple mediating roles in the reduction of bank systemic risk by DT. The innovation of bank products, sales channels, organizations and other aspects to enhance the competitiveness and income of banks, while reducing the information asymmetry between the supply chain and the industrial chain, taking cost and risk sharing, reduces the bank systemic risk. This paper enriches the research on the impact of bank DT on systemic risk and provides empirical support for bank risk management. [ABSTRACT FROM AUTHOR]

Analyzing the impact of economic openness and institutional environment on technological innovation is of great significance for China to build a new system of open economy. This study investigates the short- and long-run effects of economic openness and institutional environment on innovation by applying a dynamic panel regression model and two-step system generalized method of moments (GMM) method to dynamic panel data of China's 30 provinces, autonomous regions and municipalities directly under the Central Government (referred to as provinces hereafter) from 2008 to 2017. Results indicate that trade openness impedes innovation, whereas foreign direct investment (FDI) significantly promotes China's innovation particularly in the long-run. The continuous improvement of institutional environment promotes domestic innovation particularly in the long run. The integration of economic openness and institutional environment magnifies the effects of trade openness and FDI on innovation. The effects of economic openness and institutional environment on innovation differ by region with a descending pattern from China's Eastern to the Central andWestern regions. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of local investments in education on the economic growth of different regions in China. It examines both the direct and indirect effects of financial investments in education. It analyzes the role of human capital and intellectual capital as mediators in the relationship between education and economic growth. The study utilizes a panel data model and a model of mediating effects to conduct an empirical analysis using data from China between 2000 and 2018. The findings indicate that local financial investment in education significantly impacts economic growth, although the magnitude of this effect varies across regions. Investing in education directly stimulates economic growth and indirectly promotes it by accumulating human and intellectual capital. Therefore, increasing investment in education and nurturing innovative, high-level talent are crucial steps towards achieving high-quality economic development in China. The literature review reveals that investment in education has been extensively studied concerning economic growth, with scholars emphasizing the role of human capital in the production process and the positive effects of education on worker productivity and income equality. However, educational investment's impact on economic growth has shown variations in different countries and regions. Some studies suggest that excessive development of higher education may hinder local economic development, while others highlight the positive impact of educational inputs on human capital quality and technological innovation. To examine the causal mechanism explicitly, this paper proposes a causal inference model based on mediating effects, considering both human capital and intellectual capital as mediating variables. The research methodology includes a baseline regression model and a model of mediating products, employing panel data techniques and instrumental variable estimation to address endogeneity issues. The results of the baseline regression analysis support the positive relationship between local financial investment in education and economic growth, controlling for other factors such as capital stock, labour force, urbanization rate, trade dependence, and population growth. Furthermore, the mediating effects model suggests that education investment indirectly influences economic growth by enhancing human capital and promoting technological innovation. These findings contribute to a better understanding of how education affects regional economies in China. In conclusion, this study highlights the significance of education in driving high-quality economic development in China. It emphasizes the importance of increasing investment in education and fostering the development of innovative and highly skilled individuals. The findings provide valuable insights for policymakers and stakeholders seeking to promote sustainable and inclusive economic growth through education reform and targeted investments in human capital. [ABSTRACT FROM AUTHOR]

Ongoing environmental issues and degradation provoke the implementation of relevant incentives to overcome them without restrictions of economic growth. Considering the Chinese sustainable development policy, each province should provide the effective ecological regulations that consider the dynamic changes of the economic and ecological indicators of the province's development. In this case, the paper aims to analyze the relationship between economic growth and environmental quality. The object of the investigation is the Henan provinces of China from 1994 to 2020. The study applied a vector autoregression model between the one-way and two-way relationship analysis, Granger causality test, cointegration test, and impulse response function. The findings confirm that GDP growth causes exhaust gas production and that SO2 will also influence wastewater. The results of the co-consolidation analysis showed that if the production of industrial solid waste gas and SO2 volume increased by 1% each, GDP per capita would increase by 0.22% and 0.35%, respectively. The findings of the variance decomposition of the GDP per capita in the first phase are all due to their perturbation term. The other influencing factors have no influence. Over time, GDP per capita is less and less affected and significantly enhanced by wastewater, exhaust gas, and SO2. [ABSTRACT FROM AUTHOR]

Social philanthropy and innovation systems both require significant resource investment—how can organizations achieve both? This paper combines social exchange theory, signaling theory and imprinting theory to analyze the intrinsic dynamics mechanism from the perspective of government technology resource acquisition and to explore the influential role of generalist CEOs. Based on the hand-collected multidimensional career experience dataset of CEOs and the quantitative analysis of 3651 enterprises in China's A-share listed manufacturing industry from 2010–2019, the results show that: philanthropic donation has a systematic contribution to corporate innovation investment, in which government science and technology (S&T) resource acquisition plays a partially mediating role; generalist CEOs significantly enhance the effect of philanthropic donations and government S&T resource acquisition on innovation investment. Finally, the statistical results remain stable in the lagged effects experiment and the IV-2SLS model analysis using exogenous variables. The contribution of this study lies in expanding the research on maximizing the combined benefits of economic value creation and social performance from a social exchange perspective, and helping us understand why the share of generalists in the global managerial market big data has been steadily increasing. [ABSTRACT FROM AUTHOR]

This perspective paper elaborates on how the burden of environmental issues on public health and the economy led China's government to declare its revised environmental policies or "war on pollution". It explains the importance of photovoltaic solar (PV), electric vehicles (EV), and carbon capture and storage (CCS) in helping China to mitigate its environmental concerns while maintaining economic growth. China already leads PV solar and EV manufacturing; however, it has not made a tangible contribution to CCS technology yet. On the other hand, CCS is far behind its envisaged role in contributing to the reduction of greenhouse gas emissions and supporting countries to meet their net carbon zero targets. China's existing coal power plants are good candidates to be retrofitted with CCS. Similar to PV and EV technologies, China could influence this technology globally, by reducing the uncertainties, demonstrating the viability, and driving the costs lower. China's revised policies have been effective and shown global impacts, but their implementations remain as strong as the political will behind them. [ABSTRACT FROM AUTHOR]

This paper examines the origins, developments and new trends of anthropology of tourism in China through a comparison between China and the West. Chinese anthropologists have, since the end of the last century, begun to introduce Western academic achievements and tried to conduct domestic research. In the process of development into a big and great power in tourism, Chinese researchers have intensively absorbed new concepts and new theories from abroad, studied local cases in China's context, and carry out China-West dialogues in various aspects. Anthropology of tourism in China has seen many breakthroughs in terms of topics, theories, disciplines and methods, contributing its own experiences and new theories to the development of anthropology of tourism worldwide. [ABSTRACT FROM AUTHOR]

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With the advancement of China's economic transformation, the impact of economic policy uncertainty on family firms has become increasingly significant. The "familism" of family firms makes them more motivated to maintain family harmony, pursue innovative activities, and the long-term development of enterprises when faced with economic policy uncertainty. In this paper, we employed the data of listed Chinese family firms from 2010 to 2018 to analyze the impact of economic policy uncertainty on family business innovation activities, analyze the inherent characteristics of family firm innovation, and find the path that enables the innovative activities of family firms and provides a valuable experience for the innovation of private enterprises in economic policy uncertainty. We provide evidence that economic policy uncertainty positively relates to family firm innovation. Moreover, the relationship is affected by factors such as directors' executive background and access to state-owned equity. Further analysis indicates that economic policy uncertainty can promote family firms' innovation activities by improving their risk-taking, internal capital market circulation, and reducing political connections. [ABSTRACT FROM AUTHOR]

INTRODUCTION: The development of the digital economy and intellectual property management represented by cloud computing has promoted the progress of China's modernization road. Cloud computing plays a vital role in various industries, and the control of intellectual property rights in the digital economy represented by cloud computing is closely connected with the high-quality development of China's digital economy, the construction of a robust intellectual property country, and the modernization of the national government. China's intellectual property management capability and digital economy management system are advanced, but practical difficulties still exist at home and abroad. OBJECTIVES: To improve the development level of computer information technology such as cloud computing; to promote the integrated development of digital economy and intellectual property rights; to solve the protection problems in the practical application of intellectual property rights with information technology; and to promote the coordinated development of digital economy and intellectual property rights represented by cloud computing. METHODS: Analyzes the role of intranet in protecting business information from the technical perspective of cloud computing; puts forward the hypothesis of the relationship between the digital economy and intellectual property rights by using literature research; and applies the empirical method to verify the use of patent data of state-owned enterprises and the total index of the regional digital economy. RESULTS: The results of the study show that there is a significant positive correlation between the level of development of cloud computing, the Digital Economy, and the internal cloud computing network of the company, which meets the external conditions of the lack of capacity of the Digital Economy and strengthens the globalization of the cloud computing cooperation network. CONCLUSION: Companies can manage the risk of data loss in the digital economy by adapting their internal cloud computing capabilities. After in-house processing and multiple reliability tests, the impact of the digital economy, represented by cloud computing, on supply chain innovation remains significant. In the post-financial crisis era, the effect of the digital economy on chain innovation is important because it is a cloud computing technology-intensive production chain with low dependence on external technologies. The digital economy has a threshold effect on innovation in the production chain. With the strengthening of intellectual property protection, the marginal impact of cloud computing and the digital economy on chain innovation increases significantly. [ABSTRACT FROM AUTHOR]

We show that superstitions—beliefs without scientific grounding—impact the investment and risk-taking of Chinese firms. We focus on widely held beliefs in bad luck during one's "zodiac year," which occurs on a 12-year cycle around a person's birth year, to study superstitions and risk taking. We first show a direct correspondence between zodiac year and risk taking via survey data: respondents are two percentage points more likely to favor no-risk investments if queried during their zodiac year. Turning to corporate decision making, we find that return volatility declines in the chairman's zodiac year, suggesting a reduction in risk taking overall. Focusing on specific types of risk taking, investment in R&D and corporate acquisitions both decline during the chairman's zodiac year; returns around acquisition announcements are also lower, suggesting real allocative consequences of zodiac year beliefs. This paper was accepted by Gustavo Manso, finance. Funding: W. Huang thanks the Major Project of National Social Science Foundation of China [Grant 17ZDA090] and the "National Program for Special Support of Eminent Professions" for financial support. Y. Pan thanks the National Natural Science Foundation of China [Grant 71790601] for financial support. Y. Wang thanks the National Natural Science Foundation of China [Grant 72172090] for financial support. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mnsc.2022.4594. [ABSTRACT FROM AUTHOR]

Based on an extended three-step CDM model, this paper addresses the impacts of research and development (R&D) and information and communication technology (ICT) on firm productivity for the World Bank innovation survey data of China. The study includes ICT investment and R&D as the two main inputs into innovation and productivity. We find that R&D and ICT investments positively affect product innovation and process innovation, with R&D being more important for innovation and productivity, and ICT being more important for innovation and no direct effect on productivity. We conclude that R&D and ICT investments increase the probability of product innovation and process innovation, which increase firm's productivity, suggesting that R&D and ICT investments indirectly affect productivity through innovation. [ABSTRACT FROM AUTHOR]

This study explores the relationship between spatial agglomeration and innovation, taking Chinese manufacturing data as an example. Tractable model is built to explain the mechanism through which spatial concentration of firms in a city affects industrial innovation. Then in the empirical analysis, new agglomeration and innovation indicators are used to test the theoretical conclusions at the city-industry level. Results show that the geographical concentration of firms has significant negative effects on industrial innovation and growth. These overall effects can be divided into positive and negative categories after considering the interaction between the industrial labor scale and firm's spatial agglomeration. Industries with a higher labor scale will bear more crowding effects of firms' spatial agglomeration. These findings mean that moving to a less concentrated area might be a good choice for the labor-intensive firms which aim at innovation. [ABSTRACT FROM AUTHOR]

We leverage an exogenous shock—the crackdown on corrupt Chinese officials beginning in 2012—and examine how the allocation of research subsidies and innovative outcomes were affected. We argue that the staggered removal of provincial heads on corruption charges during China's anticorruption campaign and the unanticipated departures of local government officials responsible for innovation programs led to plausibly exogenous reductions in corruption. After both events, the allocation of subsidies became more sensitive to firm merit than to corruption and subsidies became more strongly associated with future innovation. Anticorruption efforts and officials' career incentives improved the efficacy of subsidy programs. This paper was accepted by Toby Stuart, entrepreneurship and innovation. Funding: This work was supported by the Harvard Business School, Toulouse Network on Information Technology, Major projects of the National Social Fund of China [Project 22ZDA047], and National Natural Science Foundation of China [Grants 71790601, 71722012]. Supplemental Material: The data files and online appendix are available at https://doi.org/10.1287/mnsc.2022.4611. [ABSTRACT FROM AUTHOR]

Introduction: Promoting enterprises' digital transformation is fundamental to implementing the digital China strategy and realizing high-quality development. Methods: Taking China's A-share listed companies from 2007 to 2021 as a research sample, this study examines the impact of sharing auditors with customers on the digital transformation of suppliers. Results: The results show that sharing auditors with customers can promote suppliers' digital transformation, and this promotion effect is stronger among suppliers with weaker bargaining power, lower media attention, and higher auditor industry expertise. In terms of the mechanism of action, sharing auditors with customers can help strengthen the supplier's supervision, alleviate suppliers' financing constraints, and thus facilitate their digital transformation. Further research finds that when suppliers share auditors with their customers, suppliers' digital transformation helps promote innovation. Discussion: The research conclusion provides effective empirical evidence for alleviating the dilemma of digital transformation of enterprises. [ABSTRACT FROM AUTHOR]

China's higher vocational schools has entered a key stage of development and transformation. As an important part of higher education in China, college dance teaching shoulders the heavy responsibility of providing high-quality professional dance talents to the country. This paper makes a brief analysis of the weakness in the vocational college dance teaching, and puts forward its own opinions on the solution. This has been clearly reflected in the reform of higher education teaching in China. This study adopts the methods of literature review, case study, questionnaire survey and mathematical statistics to study the practice of dancing education in higher vocational school Course. [ABSTRACT FROM AUTHOR]

Throughout the imminent water crisis era and stringent water environment management, enterprises play a vital role in environmental governance. However, there is seldom analysis on how the water environment regulation influences an enterprise's innovation due to data deficiency. Using our database from 2000 to 2022, we combine geographic information from water quality monitoring stations with the data on listed companies in China to pinpoint what distance firms are exposed to the monitoring stations. Results from a spatial regression discontinuity design along the geographic distances demonstrate that water environmental regulation has a significant positive impact on the quantity and quality of enterprise innovation. This paper found that it is primarily driven by the decreased usage of intermediate goods, rising industry profits from the exit of low-productivity firms, and enhanced enterprise research and development (R&D) investment. Furthermore, the positive impact is more pronounced for privately-owned firms, firms closer to suppliers, polluting firms, and politically unaffiliated firms. Our study offers scientifically valuable insights for emerging market countries in formulating effective water environmental regulation policies to incentivize firms to innovate in environmental protection. Additionally, it provides novel ideas on synergizing water environmental regulation and firm innovation to foster a mutually beneficial relationship between environmental protection and sustainable development. [ABSTRACT FROM AUTHOR]

Art design is a major driver of the development of culture and art, modern science and technology, and social economy. As a result, art design education has been greatly valued and attached great importance. However, art design education in China falls behind the development of social economy and art design. To solve the problem, this paper attempts to innovate art design education in China in the new era. Firstly, the authors investigated the current situation of art design education in China, and discovered a few problems: the chaotic teaching mode, the unreasonable curriculum setting, the mismatch between graduate capabilities and social requirements, and the undiversified teaching evaluation method. In response to these problems, art design education was renovated from the aspects of curriculum system setting, teaching mode, and teaching evaluation. On this basis, the authors proposed to set the curriculum system based on professional ability, and designed a topic-based and workplace-oriented teaching mode with art design studio as the platform. Finally, the innovation methods for teaching evaluation were discussed in terms of evaluation subject, evaluation standard, and evaluation method. The research findings provide a theoretical and practical reference for the innovation of art design education. [ABSTRACT FROM AUTHOR]

While innovation is vital to economic growth, African nations lag far behind in the development frontier than China. The paradox is that most developing countries' investment in innovation is proportionately far less than their developed counterparts. This article examines the contributions of innovation investments towards economic development in South Africa. We employed the autoregressive distributed lag (ARDL) bound testing and the Granger causality approach to analyse the annual time series data from 1990 to 2022 from the South African Reserve Bank. The findings revealed the positive impact of innovation investments (expenditures on ICT and R&D) on economic development in South Africa. The current study employed a relatively new ARDL bounds testing approach to analyse quantitative data to provide empirical evidence, which according to the literature, is not always evident and remains hard to quantify on the impact of innovation investments on economic development in South Africa. The study recommends that developing economies address the basics in the form of robust investment in human capital and upward investments in higher education. [ABSTRACT FROM AUTHOR]

Public equity is an important source of risk capital, especially in China. The Chinese government has occasionally suspended IPOs, exposing firms already approved to IPO to indeterminate listing delays. The temporary bar on going public increases uncertainty about access to public markets for affected firms. We show that suspension-induced delay reduces corporate innovation activity both during the delay and for years after listing. Negative effects on tangible investment and positive effects on leverage are temporary, consistent with financial constraints during the suspensions being resolved after listing. Our results suggest that predictable, well-functioning IPO markets are important for firm value creation. They demonstrate that corporate innovation is cumulative and is negatively affected by policy uncertainty. This paper was accepted by Gustavo Manso, finance. [ABSTRACT FROM AUTHOR]

Background: Hospital Examination Reservation System (HERS) was designed for reducing appointment examination waiting time and enhancing patients' medical satisfaction in China, but implementing HERS would encounter many difficulties. This study would investigate the factors that influence patients' utilization of HERS through UTAUT2, and provide valuable insights for hospital managements to drive the effective implementation of HERS. It is helpful for improving patients' medical satisfaction. Methods: We conducted a survey through the Sojump platform, targeting patients were who have already used HERS. We collected questionnaire information related to factors behavior intention, performance expectancy, and effort expectancy. Subsequently, we employed a structural equation model to analyze the factors influencing patients' utilization of HERS. Results: A total of 394 valid questionnaires were collected. Habit was the main direct positive factor influencing the behavioral intention of HERS (β = 0.593; 95%CI: 0.072, 1.944; P = 0.002), followed by patient innovation (β = 0.269; 95%CI: 0.002, 0.443; P < 0.001), effort expectancy (β = 0.239; 95%CI: -0.022, 0.478; P = 0.048). Patient innovation and facilitating conditions also have an indirect effect on behavioral intention. Perceived privacy exposure has a significantly negative effect on behavioral intention (β=-0.138; 95%CI: -0.225, -0.047; P < 0.001). The above variables explained 56.7% of the variation in behavioral intention. Conclusions: When HERS is implemented in hospitals, managements should arrange volunteers to guide patients to bring up the habit and solve the using difficulties, and managements could invite patients with high innovation to recommend HERS to others, what's more, it is a valid way to retain the old form of appointment to pass the transition period to the new system. HERS utilization and patients' medical satisfaction will be enhanced through the guidance of hospital management means. [ABSTRACT FROM AUTHOR]

Although the relationship between Western religiosity and innovation is widely investigated, the effect of Eastern religious traditions on corporate innovation remains unexplored. Using a sample of firms listed in Chinese A-share stock exchanges, we find that firms registered in areas with stronger Eastern religious traditions (Buddhism and Taoism) are generally more innovative than firms registered in areas with weaker Eastern religious traditions. This result suggests that Eastern religiosity promotes rather than stifles corporate innovation. We find additional evidence suggesting that Eastern religiosity promotes corporate innovation mainly through the following three channels: (1) fostering nonexclusivity and openness to science and innovation, (2) mitigating agency conflicts, and (3) nurturing commitment and fortitude. JEL Classifications: N35; D81; O31. [ABSTRACT FROM AUTHOR]

Research on sustainable business models and climate change is the focus of this article, which examines the industry, business and sustainability which has attracted a lot of attention. Because of this, we are investigating the effects of implementing business sustainability capabilities using a multiple-case methodology. An original report on China's small- and medium-sized businesses provided the data for this study that examined the theoretical and empirical relationships between financial literacy, innovation and environmental conservation. We devised a conceptual model to demonstrate the impact of corporate sustainability skills and competencies on climate change. Endogeneity concerns connected to financial literacy, innovation and ecological sustainability necessitate the employment of an instrumental variable for climate change. After adjusting for individual and firm characteristics, we found that financial literacy may substantially impact a company's sustainable business model. The findings suggest that financial literacy may boost company innovations by relieving financial restrictions and enhancing corporate governance, both of which contribute to the development of sustainable businesses that assist in increasing climate change mitigation efforts. On the other hand, innovation has a more significant influence on low-leverage companies. There was also a lot of talk about climate change, greenhouse gas emissions and climate change in the business context. This research, therefore, sheds light on how business sustainability capabilities and competencies might improve a company's environmental performance. [ABSTRACT FROM AUTHOR]

Carbon emission trading, a market-incentive environmental regulation, plays a critical role in leading China towards the carbon peaking and carbon neutrality. To improve the national carbon emission trading in China, we analyze the effects of the policy in pilot provinces and pilot A-share listed firms from 2008 to 2016. Particularly, to explore the pilot policy's environmental and financial impacts, this paper applies a difference-in-difference method. After the robustness check, the results confirm the carbon emission trading pilot's significantly positive impact at both firm- and province-level regarding carbon emission reduction. Meanwhile, corporate innovation seems to partially mediate the relationship between the policy and corporate carbon emission reduction. Plus, the policy promotes firms' market-based financial performance but such impact on accounting-based financial performance is insignificant. Ultimately, the operational mechanism of the policy is proved to be effective. In this paper, industry- and firm-level carbon emissions databases are established via environmental extended input-output table, which fill the research gap of China's firm-level carbon emissions. To ensure the reliability of results, the list of covered firms is sorted out manually in accordance with the disclosed data of seven carbon trading markets. Our results are meaningful for avoid productivity reduction and mechanism re-design in the context of the national carbon emission trading launched in 2021. Specifically, encouraging firms to further improve their productivity and competitiveness by innovation could eventually achieve a win-win situation between economic performance and environmental merits in the long run. [ABSTRACT FROM AUTHOR]

Using panel data from 269 Chinese cities, this study examined the impact of housing prices (HP) on cities' innovation capacity (IC) in China. Firstly, a fixed effect model was used to analyze the effect of HP on cities' IC in China, revealing that HP positively impacts cities' IC. Next, several robustness tests were conducted to verify the finding's reliability. Thirdly, the analysis empirically tested mediating mechanisms between HP and cities' IC in China. The results show that, on the one hand, higher HP can improve cities' IC by attracting talents and stimulating the growth of local fiscal revenue. On the other, increasing HP can inhibit cities' IC in China by attracting funds into the real estate market and impeding residents' consumption ability. Finally, the heterogeneous nature of the HP-IC link in China was further explored. This study's results provide recommendations for the government of China on how to promote cities' innovation performance. [ABSTRACT FROM AUTHOR]

The term "New Infrastructure" has been highlighted in China's recent policies. It refers to a set of new, and expanding, policies and the discourse surrounding them which support the development of facilities, equipment, and systems derived from the latest technologies, including 5G Internet of Things, AI, cloud computing, and data centers. This article reviews China's New Infrastructure policies, analyzing their specific discursive ontologies and how they relate to major state projects to "re-infrastructure" China's economy. It introduces the concept of "discursive infrastructure" and argues that the policies that redefine and recategorize infrastructure themselves serve as a form of infrastructure. Key to the concept is the recognition that discursive infrastructure relies on mutually constitutive material and semiotic dimensions and dialectically reproduces both symbols of progress and positive infrastructural imaginaries. Drawing on an analysis of policy documents and other discursive materials, the article tracks New Infrastructure's fetish-like existence and unravels the multiple political modalities, as well their varying efficacies, that are manifested through the discursive publics they generate. It likewise reveals some emerging conflicts that appear across New Infrastructure's different contexts, showing critical gaps between imaginaries and actualities, all of which have a profound effect on a re-infrastructured China. [ABSTRACT FROM AUTHOR]

We examine the convergence of innovation activity across Chinese provinces and untangle how such activity has evolved between 1987 and 2020. Our study reveals which factors matter for innovation and how the significance and relative importance of different factors changed over time. To capture this evolution, we distinguish between three key time periods and identify the existence of temporal effects. We further find that depending on the time‐period, regional innovation activity in China has developed in at least three innovation convergence clubs. We offer useful insights, with theory and policy implications, of the roots of regional innovation convergence and the causes of geographical disparities in China's innovation activity. [ABSTRACT FROM AUTHOR]

The digital economy has become important in the world's major economies. Improving energy efficiency is the key to achieving stable and sustainable economic growth and carbon emissions reduction. However, the impact of the digital economy on energy efficiency remains unclear. Accordingly, this study examines the relationship between the digital economy and energy efficiency from the Environmental Kuznets Curve (EKC) perspective. In doing so, this study confirms that the digital economy follows the EKC in energy utilization efficiency, and there is a U-shaped relationship between the digital economy and energy efficiency, although this relationship differs from one region to another. This study also discusses the moderating effects of environmental regulation and innovation capability in this U-shaped relationship, confirming that they have a moderating effect on this relationship, reducing the inflection point of the U-shaped relationship, and reducing the negative influence of the digital economy on the energy efficiency and enhancing the positive impact. This study can serve as a reference for policymakers and professionals in emerging economies, helping them achieve a win-win situation for economic development and reducing carbon emissions. [ABSTRACT FROM AUTHOR]

Chief executive officers (C.E.O.s) play a dominant role in firm decision-makings and operations, and their characteristics will affect firm sustainable growth. This study investigates whether C.E.O. academic experience affects firm sustainable growth. Using a sample from China, we find that C.E.O. academic experience is positively related to firm sustainable growth, and the effect is pronounced for high-tech firms. Further analyses demonstrate that the results are robust to alternative measures and controlling for endogeneity problems. Finally, the channel analysis shows that the effect is partially driven by firm innovation and internal control. [ABSTRACT FROM AUTHOR]

Factor misallocation has significant effects on productivity and innovation. Innovation is widely regarded as the most important element for economic growth. This article aims to study how capital and labour distortions influence innovation activities in China. We apply system generalised methods of moments using a natural experiment with an exogenous shock. The results indicate that the measurements for factor misallocation are significantly negatively correlated to innovation. The findings have important implications for emerging countries to improve their innovation productivity. [ABSTRACT FROM AUTHOR]

Many studies have found that FDI can reduce the pollutant emissions of host countries. At the same time, the intensity of environmental regulation would affect the emission reduction effect of FDI in the host country. This study aims to reveal the internal mechanisms of this effect. Specifically, this paper studies the impact of FDI on technological innovation in China's industrial sectors from the perspective of technology transactions from 2001 to 2019, and then analyzes whether the intensity of environmental regulation can promote the relationship. Results indicate that FDI promotes technological innovation through technology transactions. In addition, it finds that the intensity of environmental regulation significantly positively moderates the relationship between FDI and technological innovation, which is achieved by positively moderating the FDI–technology transaction relationship. Regional heterogeneity analysis is further conducted, and results show that in the eastern and western regions of China, FDI can stimulate technological innovation within regional industrial sectors through technology trading. Moreover, environmental regulation has a significant positive regulatory effect on the above relationship, but these effects are not supported by evidence in the central region of China. [ABSTRACT FROM AUTHOR]

Risk-taking is a key factor in corporate competitive advantage, and economic development. The type of strategic configuration that can drive high-level risk-taking is a problem worthy of attention. This study takes 2,219 listed firms in China as samples and performs a fuzzy set qualitative comparative analysis (fsQCA) to explore the linkage effect and path choice of strategic change, corporate social responsibility, innovation, diversification, and financialization with corporate risk-taking (CRT). It finds that: (a) a single strategy does not constitute a necessary condition for high-level CRT; (b) three types of adaptive schemes exist for high-level CRT, among which the risk-taking level is the highest under the path of "Innovation, diversification, and financialization"; and (c) the driving paths of CRT in different regions, industries, and ownership show obvious differences. [ABSTRACT FROM AUTHOR]

Given the urgency of achieving net-zero emissions for climate stabilization, a deeper holistic knowledge of the key factors driving green industry, an emerging industrial strategy to build net-zero economies through sustainable production and consumption, is of growing relevance. The existing literature is fragmented into heterogeneous factors of green industry and a systematic review on the topic is lacking. This study aims to fill this gap by synthesizing the growing multidisciplinary literature on the driving factors of green industry by addressing a set of research questions. It has reviewed 211 peer-reviewed articles and 16 grey literatures published from 2009 to July 2022. A systematic review methodology is employed by defining research questions, a search strategy, search terms, databases, inclusion and exclusion criteria, and a synthesis strategy. A holistic factors framework has been constructed to discuss the results that can be used in evaluating green industrial growth strategies for net-zero economy. The study finds six key literature gaps that have theoretical and practical implications for future research. Firstly, potential threats (delayed decoupling, inequality, green extractivism, and stranded assets) identified in this review demand extensive studies that might contribute to a successful green transition toward net-zero emissions. Secondly, primary factors underpinning green industry are heterogeneous, fragmented, and less considered under the rubric of 'green industry', which require holistic frameworks and systems thinking to study. Thirdly, the literature focuses on the growth-environmental dilemma, overlooking social structures where green industry is embedded in, and the social implications must be considered with a focus on industrial inclusion. Fourthly, theoretical underpinnings of green industry evolve around green growth and degrowth that take distinct stands in challenging economic growth model to achieve net-zero emissions, but their theoretical claims and practical methods are highly contested, and their relationship and implications within different contexts of economies demand further research. Fifthly, the literature evolved globally, but primarily concentrated on China, and regional, provincial, and local perspectives are scant. Finally, the reviewed papers typically employ quantitative methods and few qualitative and mixed methods involving fieldwork. [ABSTRACT FROM AUTHOR]

Innovation is an important factor to improve the quality of economic growth, and amplifying the innovation spatial spillover effect is an important measure to support the development of innovation. Scholars have carried out diversified research on the innovation spatial spillover effect, but there is still practical significance for deepening the research on the spatial spillover effect. In particular, the multi-angle comparative study in different regions still has research value, especially for the field of urban agglomeration integration. The spatial econometric model is a common method to measure spatial spillover effect. In order to carry out a multi-angle comparative study of innovation spatial spillover effects in different regions, this study takes two typical integrated urban agglomerations of the Yangtze River Delta and the Pearl River Delta in China as the object, and conducts a comparative study of the evolutionary characteristics of innovation spatial spillover effects based on urban scale data and the spatial econometric model. Differently from previous studies, invention patents are adopted to characterize the innovation level. The results show that there are significant positive innovation spatial spillover effects in the Yangtze River Delta and the Pearl River Delta, and the spatial spillover effect in the Yangtze River Delta is stronger. The spatial spillover effect exhibits significant spatiotemporal heterogeneity. For example, the spatial spillover effect in the core region and the fringe region of the urban agglomeration exhibits a positive effect, but the Yangtze River Delta is stronger than the Pearl River Delta. As an important innovation, the spatial spillover effects both exhibit the evolutionary characteristics of "inverted U-shape" based on the changes in geographical distance, and the spatial spillover effect of the Yangtze River Delta is always larger. Based on the empirical research, we propose promoting high-quality development by strengthening urban agglomeration cooperation, realizing urban agglomeration expansion in an orderly way, and improving the macro-political system. [ABSTRACT FROM AUTHOR]

The government employs innovation subsidies as a key incentive strategy to promote companies to innovate more technically. This study analyses how innovation subsidies influences the quality of corporate innovation. We create an innovation quality index for pharmaceutical corporations using categorizing data from patent applications submitted by pharmaceutical companies. Using data from 180 listed Chinese pharmaceutical companies between 2010 and 2020, this study proposes a panel regression model to assess the influence of government innovation subsidies on innovation quality, as well as the moderating effect of CEOs' academic capital. How well innovations are subsidized is also affected by the heterogeneity of property rights. Innovation subsidy has a greater and more positive impact on non-SOEs. This article demonstrates that CEOs with academic credentials and executives with ties to the pharmaceutical industry have a variety of moderate effects. The research offers novel suggestions for enhancing business creativity and the innovation subsidy programme. [ABSTRACT FROM AUTHOR]

The Report of China's Automobile Industry Development 2016 points out that China's automobile industry faces increasingly fierce competition from global peers, and domestic automobile manufacturers shall continuously improve independent innovation and industry innovative performance. Automobile manufacturers' participation in distributed innovation and their research & development (R&D) capability play a key role in the growth of innovative performances of China's automobile industry. With development of China's automobile industry as the background, this study presents a theoretical framework of correlation of distributed innovation embedment, R&D capability and innovative performances of China's automobile industry from the microscopic perspective of single industry. Several hypotheses were proposed and then verified by empirical method. Specifically, 117 effective questionnaires were collected through non-probability sampling and analyzed quantitatively, followed by hypothesis test. The results clarify the working principles of the three dimensions of distributed innovation embedment influencing innovative performances of China's automobile industry and improvement of R&D capability of enterprises by distributed innovation. This study provides references to improvements of innovative performances of China's automobile industry. [ABSTRACT FROM AUTHOR]

We study how listing status affects corporate innovation and total factor productivity (TFP) in the Chinese capital market. Using a new data set of R&D investment and patent information on both industrial unlisted and listed firms, the following empirical findings are obtained: (i) firms experience an increase in innovation input and a decrease in innovation output following the initial public offering (IPO); and (ii) the decrease in innovation output significantly impedes TFP. We identify two possible mechanisms through which IPOs affect innovation activities: agency problems and easier access to funding. The results are robust to the propensity score‐matching approach that addresses selection bias. The analysis reveals that firms face a trade‐off between financing advantages and a potential decrease in innovation and productivity during the transition to public equity markets. [ABSTRACT FROM AUTHOR]

• A theoretical model is developed to predict how command-and-control environmental regulation affects innovation. • The causal relationship between environmental regulation and innovation is empirically identified. • Environmental regulation exerts significant and negative effect on innovation. • A sharp decline in labor demand, firm entry, and inbound foreign direct investment are the main channels. The relevance of analyzing effects of environmental regulation on innovation cannot be overemphasized. In this paper, we first develop a theoretical model to predict how command-and-control environmental regulation affects innovation, and then we derive its channels. Using the difference-in-difference-in-differences strategy and a comprehensive dataset at city-industry-year level of manufacturing sectors in China, we found that the more stringent environmental regulations that are faced by cities, measured by the reduction targets of chemical oxygen demand (COD) and sulfur dioxide (SO 2) during the eleventh Five-Year Plan, are negatively associated with innovation. Thus, the evidence contradicts the Porter Hypothesis. On average, a one standard deviation increase in the reduction targets of COD (SO 2) is associated with a 0.023 (0.016) standard deviation decrease in the innovation index. We controlled carefully for various potential confounders, and the results were supported by robustness and falsification checks. There exists an evident heterogeneity effect across regions and industries with different pollution intensities. The channel analysis shows that stricter environmental regulation also accounts for a sharp decline in labor demand, firm entry, and inbound foreign direct investment. Our findings are also robust to alternative measures for innovation and environmental regulation. [ABSTRACT FROM AUTHOR]

The e-market is prosperous in China, but the factors that stimulate or deter its development remain unclear. This study focuses on designers (interaction, user interface, product, and user experience designers) in the Chinese e-marketplace to examine the relationship between creative self-efficacy (CSE), achievement motivation (including motivation to approach success [MS], and motivation to avoid failure [MF]), and job burnout. Eighty-two questionnaires and eight in-depth interviews were used to collect data. The designers were found to be experiencing intermediate levels of job burnout. However, their achievement motivation and CSE were relatively high, and achievement motivation acted as an overarching factor that triggered CSE. The study contributes to the field by providing theoretical evidence showing how achievement motivation and job burnout influence designers' CSE. We show the value of the need to increase employees' achievement motivation, which builds CSE naturally. To conclude, we suggest that achievement motivation may be more critical for firms, as employees will handle their work seriously with a higher sense of responsibility. [ABSTRACT FROM AUTHOR]

This study aims to examine the impacts of ownership and innovation on the sustainable development of micro and small enterprises (MSEs). Using the dataset from the 2015 China Micro and Small Enterprise Survey, this study divides the ownership of MSEs into state ownership, collective ownership, private ownership, and foreign ownership. In this study, the sustainable development of MSEs is measured by four sets of variables, sustainable operation, sustainable profitability from operations, sustainable profit input, and sustainable production or operation input. The Result suggests negative associations between the ownership of state-owned enterprises as well as collective-owned enterprises and MSEs' sustainable development. Furthermore, public ownership also negatively contributes to MSEs' sustainable development. Concerning the ownership of non-public-owned enterprises, while private ownership enables MSEs to develop sustainably, foreign ownership is not conducive to MSEs' sustainable development. Besides, the result also indicates that innovation positively contributes to the sustainable development of MSEs. Moreover, this study offers implications for policymakers to take measures in promoting reform of mixed ownership as well as innovation to enhance MSEs' sustainable development. [ABSTRACT FROM AUTHOR]