Search

Objective: The primary objective of this inquiry was to explore the nexus between authorship attribution in medical literature and accountability for scientific impropriety while assessing the influence of authorial multiplicity on the severity of sanctions imposed., Methods: Probit regression models were employed to scrutinize the impact of authorship on assuming accountability for scientific misconduct, and unordered multinomial logistic regression models were used to examine the influence of authorship and the number of bylines on the severity of punitive measures., Results: First authors and corresponding authors were significantly more likely to be liable for scientific misconduct than other authors and were more likely to be penalized particularly severely. Furthermore, a negative correlation was observed between the number of authors' affiliations and the severity of punitive measures., Conclusion: Authorship exerts a pronounced influence on the attribution of accountability in scientific research misconduct, particularly evident in the heightened risk of severe penalties confronting first and corresponding authors owing to their principal roles. Hence, scientific research institutions and journals must delineate authorship specifications meticulously, ascertain authors' contributions judiciously, bolster initiatives aimed at fostering scientific research integrity, and uphold an environment conducive for robust scientific inquiry., Competing Interests: The authors have declared that no competing interests exist., (Copyright: © 2024 Peng et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)

The demographic structure is an important factor influencing the development of the services industry. As the country with the world's most serious aging problem, China's service industry structure is likely to undergo profound changes in response to the rapid demographic transition. Therefore, this paper examines the effect of population aging on the development of the service industry in the context of China's accelerating population aging. The study found that: (1) Population aging has a significant "inverted U" effect on the development of the services industry. (2) The impact of population aging on the development of the service industry has obvious regional and industry heterogeneity. The study of regional heterogeneity found that population aging in economically developed regions has a more obvious effect on the development of the service industry than in economically less developed regions. Industry heterogeneity studies found that population aging has an obvious promotional effect on the development of medical and other rigid demand industries, while the effect on other non-rigid demand industries is not significant. (3) The threshold effect test found that when the degree of population aging exceeds the threshold, the stimulating effect of population aging on the development of the services industry is no longer significant. The research in this paper provides useful insights into the likely response to changes in the industrial structure of the services industry, and offers some implications for countries with similar demographic profiles to China. [ABSTRACT FROM AUTHOR]

Currently, digital transformation is having various impacts on enterprises around the world, including the green innovation. However, the current literature on the relationship between digitalization and green innovation in enterprises is scarce. What is the relationship between them, and whether heterogeneous environmental regulation has mediating effects, are questions that are worth exploring. Using a sample of listed manufacturing enterprises in China, this paper empirically tests the impact of digital transformation on enterprise green innovation. The results show that: (1) Digital transformation has a significant positive impact on green innovation, including green innovation output and green innovation capability. (2) Diverse environmental regulation may have mediating effects of digital transformation's influence on green innovation. (3) After a number of robustness tests, the conclusions are still valid. This paper can provide a reference for developing green development strategies for manufacturing enterprises. [ABSTRACT FROM AUTHOR]

This paper employs a unique data set to analyze the trading behavior of wealthy individual investors across Mainland China and their impact on Chinese stock markets' tail risk. Results show that the wealthy individual investors' trading behavior can explain Chinese stock markets' tail risk, and the daily investment portfolios based on the network density of wealthy individual investors have significant excess returns. This paper also investigates the determinants of wealthy individual investors' trading behavior with the social network method and the spatial econometric model, and reveals that wealthy individuals benefit from the spillover effect of their trading behavior through the investor networks. The results of this paper not only reveal micro evidence for the formation mechanism of asset prices, but also provide insight into the behavior of wealthy individual investors. [ABSTRACT FROM AUTHOR]

The "Three Rural Issues", encompass challenges related to agriculture, farmer, and rural area, which hold significant importance in driving comprehensive rural revitalization efforts in China. Farmer entrepreneurship, as a crucial means to enhance productivity, create job opportunities, and increase residents' income, has gradually become a key driving force in promoting rural revitalization in the new stage of development in China. With the rapid development of rural e-commerce, farmer entrepreneurship has encountered new opportunities. This study utilizes the 2020 China Family Panel Studies (CFPS) data and employs a structural equation model (SEM) to analyze the direct impact of rural e-commerce participation on farmer entrepreneurial behavior, considering factors such as human capital, social capital, and network infrastructure. This study further explores the indirect effects and mechanisms of e-commerce participation as a mediating variable and analyzes the impact and mechanisms on agricultural entrepreneurship behavior. The findings are as follows: (1) E-commerce participation significantly promotes farmer entrepreneurial behavior; (2) E-commerce participation as a mediating variable has a positive indirect effect on the relationship between social trust, network infrastructure, human capital, and farmer entrepreneurial behavior; (3) E-commerce participation has a significant positive influence on farmer entrepreneurship in the agricultural sector, and farmers with higher levels of network infrastructure and human capital have a higher probability of choosing agricultural entrepreneurship under the influence of e-commerce participation. Finally, this study provides policy recommendations in terms of infrastructure construction, entrepreneurial policy environment, and education level, aiming to optimize the situation of farmer entrepreneurship and contribute to the comprehensive promotion of rural revitalization.Overall, the research in this paper effectively combines theory and empirical evidence to outline the direct and indirect impact mechanisms of rural e-commerce participation on farmers' entrepreneurial behavior and agriculture-related entrepreneurial behavior and to test the effects of their impacts. First, most of the existing literature deals with farmers in individual sample areas, while the sample selected in this paper is farmers in the whole country, which is relatively more generalizable; second, most of the previous studies explore the level of e-commerce in the inter-provincial or county areas, while this paper expands the empirical study of rural e-commerce on the entrepreneurial behavior of farmers and the micro-period of agricultural entrepreneurial behavior, and focuses on the impacts of the e-commerce activities of farmers on their entrepreneurial behavior. [ABSTRACT FROM AUTHOR]

The development of urbanization has brought new challenges to the ecological environment, and the promotion of green technology innovation and development is widely recognized as an essential method to achieve cities' economic benefits and environmental protection. This paper examines whether the new urbanization pilot policies (NUP) increase green technology innovation (GTI) from both theoretical and empirical perspectives. This paper examines the impact of new urbanization on GTI by analyzing data from 285 cities in China between 2010 and 2021, using the multi-period DID model with the implementation of NUP as an exogenous policy shock. The study results indicate that NUP significantly affects GTI, and the conclusion still holds after the parallel trend test, placebo test, and other robustness tests. Heterogeneity analysis shows that the NUP significantly enhances GTI in low environmental pollution, non-resource-based, Medium-sized, and Central Region cities. The test of moderating effect shows that NUP has a "linkage effect" with the government's environmental attention, financial investment in innovation, and regional talent pooling. The findings of this paper provide empirical evidence and decision-making reference for promoting NUP and sustainable development of cities. [ABSTRACT FROM AUTHOR]

This paper examines the impact of the digital economy on sustainable development, using panel data from cities at the prefecture level and above in China from 2011 to 2019. The results indicate: (1) The digital economy is conducive to boosting growth, increasing employment, reducing energy consumption, and cutting emissions, thereby promoting sustainable development. These findings prove robust. (2) Mechanism test outcomes reveal that, from the perspective of technological innovation, the digital economy can promote sustainable development through increasing R&D input and enhancing innovation output. (3) An extended analysis of the risk of a digital "divide" demonstrates that "dividend" of the digital economy is primarily manifests in spurring economic growth, enhancing energy efficiency, and strengthening environmental protection in lagging regions, while the digital "divide" effect is manifested in the stronger employment stimulating effect of developed regions versus backward areas. The results of this study not only enrich the relevant research system, but also provide empirical evidence to support accelerating digital transformation, strengthening technological innovation governance, and advancing sustainable development. [ABSTRACT FROM AUTHOR]

Accurate aircraft turnaround time prediction is an important way to coordinate the operation time of airport ground service and improve the efficiency of airport operation. In this paper, by analyzing the aircraft turnaround operation process, a description model based on Time Transition Petri Net is proposed. The model describes the flight turnaround operation process and the logical relationship of the operation. According to the model, a dynamic prediction method of turnaround time based on Bayesian theorem is designed. According to the actual landing time of the flight, the aircraft turnaround time is predicted. The specific method is to obtain the prior probability distribution and joint distribution law of each operation link according to the flight history data, and use Shapiro-Wilke to test the prior probability distribution of each link. Based on the analysis and comparison between the actual turnaround data of a large airport in China and the forecast data proposed in this paper, the root-mean-square error 3.75 minutes and the mean absolute error 3.40 minutes can be calculated. This paper contributes to the improvement of flight punctuality rate and airport clearance level. [ABSTRACT FROM AUTHOR]

During the past 40 years of reform and opening-up, the implementation of an unbalanced enhancement strategy has led to severe resource misallocation, making the mitigation and rectification of this misallocation an urgent issue. This paper utilizes urban data from China between 2006 and 2020 to examine the impact of two-way foreign direct investment (FDI) on resource misallocation, as well as the pathways through which coordinated advancement of two-way FDI affects resource misallocation. After undergoing a series of robustness and endogeneity tests, the conclusion remains stable. Mechanism testing reveals that coordinated advancement of two-way FDI improves capital resource misallocation by enhancing the enhancement level of the financial industry, while exacerbating labor misallocation by increasing labor costs. This paper integrates the coordinated advancement of two-way FDI and resource misallocation into the same analytical framework, proposing policy recommendations to alleviate China's resource misallocation issue. [ABSTRACT FROM AUTHOR]

The regional networking strategy is widely implemented in China as a normative policy aimed at fostering cohesion and enhancing competitiveness. However, the empirical basis for this strategy remains relatively weak due to limitations in measurement methods and data availability. This paper establishes the urban networks by the enterprise investment data, and then accurately measures the network's external effects of each city by the method of MGWR model. The results show that: (1) Regional networking plays a significant role in urban development, although it is not the dominant factor. (2) The benefits of network connections may vary depending on the location and level of cities. (3) The major cities assume a pivotal role in the urban network. Based upon the aforementioned research conclusions, this paper presents strategic measures to enhance the network's external impacts, aiming to offer insights for other regions in formulating regional development strategies and establishing regional urban networks. [ABSTRACT FROM AUTHOR]

Simultaneously achieving economic development and environmental protection is a shared global challenge. While the positive effect of environmental regulations on protecting the environment has been widely recognized, the attention paid to low-carbon governance and corporate green transformation remains insufficient. Based on the two-stage least square regression model (2SLS) of instrumental variables, this paper utilizes panel data from China to identify the influence mechanism of government low-carbon governance on enterprise green development. It explores the effect of low-carbon governance on enterprise green development from the perspective of fiscal decentralization. The findings show that (1) Low-carbon governance significantly promotes corporate green development, primarily through improving industrial structure and technological innovation; (2) Low-carbon governance notably promotes the green development of private enterprises but has little effect on state-owned enterprises. There are also geographical differences, and the results are better in Eastern China than in the Central and Western parts of China; (3) Fiscal decentralization at both central and local levels inhibits the effect of low-carbon governance on driving corporate green development by causing a mismatch of human resources. Therefore, to promote corporate green development, low-carbon governance must prioritize green development, actively guide industrial structural upgrading and enterprise technological innovation, implement differentiated low-carbon governance measures tailored to different ownership enterprises, and optimize the assessment indicators for fiscal decentralization. This paper helps deepen the understanding of the relationship between government low-carbon governance and enterprise green development in developing countries. It can be used as a reference for government departments to formulate relevant policies. [ABSTRACT FROM AUTHOR]

Sustainable agricultural economic development is the core task for achieving the objective of rural revitalization strategy in China, which cannot be separated from the support and guidance of fiscal policy, and agricultural industry integration is a key path for the fiscal promotion of sustainable agricultural economic development. This paper systematically examines the interaction mechanism between fiscal agricultural expenditures and sustainable agricultural economic development by using 31 provincial panel data in China from 2008 to 2020 and adopting a two-way fixed effect model, a panel quantile model, and a mediating effect model, respectively. The results show that the impact of fiscal agricultural expenditures on sustainable agricultural economic development is significantly positive, and appears a dynamic increasing trend with the agricultural development stage upgrading. Moreover, heterogeneity analysis shows that the effect of fiscal agricultural expenditures is more obvious for the samples in the central region and with a high share of primary industry. Further, a mediating effect test finds that agricultural industry integration plays a mediating mechanism between fiscal agricultural expenditures and sustainable agricultural economic development. Therefore, this paper proposes constructing a long-term investment mechanism for fiscal agricultural expenditures, formulating differentiated fiscal support policies for agriculture, and prioritizing support for agricultural industry integration, which provides theoretical support and policy inspiration for promoting sustainable agricultural economic development. [ABSTRACT FROM AUTHOR]

With the rapid development of China's economy and society, the innovation of grassroots social governance has become increasingly important. This paper constructs 35 grassroots social governance innovation samples. Using the TOE theoretical framework and a fuzzy set qualitative comparative analysis (fsQCA), this paper analyzes the joint effects and interactive relationships of multiple factors on grassroots social governance innovation performance from three dimensions: technology, organization, and environment. The research reveals that internal environmental openness is a necessary condition for achieving high innovation performance in grassroots social governance, and proposes four grouping models that affect the performance of grassroots social governance innovation. This paper explores the inner logic of grassroots social governance innovation from a histological perspective, and on this basis proposes an adaptive path to enhance the performance of grassroots social governance innovation. [ABSTRACT FROM AUTHOR]

With the increasing uncertainty of urban security, urban resilience construction with risk awareness and bottom-line thinking has become essential for promoting sustainable urban development. This paper measures China's urban resilience development index (CRDI) based on 284 cities in China (except Tibet) using the entropy method from four dimensions: economic, social, environmental, and infrastructure, and analyzes it by combining coupling coordination degree and barrier factor analysis. We find that: (1) At the national level, CRDI and its sub-dimensions show an increasing trend in time, a decreasing spatial layout from coastal to inland, and a "high-high-low-low" clustering feature in space. (2) At the regional level, the CRDI is from high to low in the east, middle, and west order. The sub-dimensions are from high to low in the order of east, middle, and west for economic, social, and infrastructure resilience and from high to low in the order of east, west, and middle for environmental resilience. (3) To coupling coordination degree, the CRDI index coupling coordination is increasing in time trend but is still on the verge of dissonance. (4) Social resilience is the main obstacle factor. In the indicator layer, human resources, innovation, education, security, living, and environmental protection are the areas where CRDI coordinated development is the key to improvement. Based on the above empirical evidence, this paper proposes countermeasures to optimize urban resilience construction from four perspectives: economic, social, environmental, and infrastructure. [ABSTRACT FROM AUTHOR]

Economic policy uncertainty has had an important impact on trade and sustainable economic development. Especially in some specific industries, uncertainty has increased dramatically. The extant related literature mainly analyzes the nexus between uncertainty and trade across different industries and focuses less on a specific industry. Using Chinese customs data on HS 8-digit products over the period of 2000–2013, this paper first investigates the impact of both foreign economic policy uncertainty (EPU) and domestic intra-industry trade on China's mechanical and electrical product exports to 23 trading partners and applies pooled OLS regressions to conduct an empirical study. This paper finds that EPU has a significant inhibition effect on mechanical and electrical product exports; conversely, intra-industry trade can both significantly promote exports and alleviate the inhibition effect of EPU. In addition, the export impact of EPU varied with different trade patterns. It can significantly inhibit processing exports, while it has no effect on ordinary exports. The results of this paper indicate that in the context of increasing uncertainty, our findings could have far-reaching policy implications for China to build a new development pattern of domestic and international dual circulation. [ABSTRACT FROM AUTHOR]

This paper aims to study the relationship between regional logistics efficiency and economic development in 31 provinces of China and analyze their coupling coordination. To comprehensively evaluate the coordination between logistics and the economy, we introduced external indicators, such as carbon emissions, based on traditional evaluation indicators. We constructed an evaluation index system to coordinate regional logistics efficiency and economic development. The research approach used in this paper is the cross-DEA method, and data from 2010 to 2019 were selected for empirical calculation. The research findings indicate that Eastern and Northern regions of China show higher logistics efficiency, while Northwestern and Southwestern regions exhibit lower logistics efficiency. Coastal areas have relatively higher economic development levels compared to inland areas. Regarding the coupling coordination between logistics efficiency and economic development, different regions show temporal fluctuations and spatial disparities. Some regions demonstrate higher coordination between logistics efficiency and economic development, while others show lower coordination. Additionally, as the economy experiences rapid growth, logistics efficiency also improves, but the level of coordination varies among different provinces. [ABSTRACT FROM AUTHOR]

Fulfilling corporate social responsibility (CSR) is crucial for society's sustainable development. Executives' academic experience significantly affects their awareness of social responsibility, value orientation, professional ability, and network resources. Thus, it is critical in CSR-related corporate decision-making. This paper explores the impact of executives' academic experience on the fulfillment of CSR. It focuses on non-financial, Special treatment enterprises (ST), and ST* enterprises listed in the A-share market from 2012 to 2021. It utilizes a fixed-effects analysis model to examine the relationship between executives' academic experience and CSR fulfillment. The CSR score and executives' academic experience were positively correlated. This paper also explores the intermediary role of compensation incentives and the moderating effect of marketization level. Both compensation incentives and the level of marketization positively moderated the relationship between executives' academic experience and CSR fulfillment. Meanwhile, the robustness results showed that the experimental findings still held after replacing the explained and explanatory variables. This paper contributes to the advancement of the Upper Echelons Theory and provides empirical evidence for the society's sustainable development. [ABSTRACT FROM AUTHOR]

This paper aims to explore the impact of China's value-added tax (VAT) credit refunds policy on the enterprises' labor demand through a paradigm combining ex-ante analysis and ex-post test. By introducing the VAT credit refunds into the production-decision model of the enterprise, calibrating the parameters and conducting the dynamic effects tests using the data of Chinese A-share listed enterprises, this paper finds that the labor employment of the pilot enterprises exhibits a V-shaped fluctuation trend. In the initial implementation of the policy, due to the existence of layoff costs, iso-cost line of the enterprise bends, which results in that the enterprise with a capital-labor substitution elasticity greater than 1 will not reduce labor hiring, as it has already deployed labor force before the implementation of the policy. When the enterprise enter the next production cycle where the labor force can be freely allocated, the labor employment of the enterprise with a capital-labor elasticity of substitution greater than 1 will decline compared to that without the policy. In the long run, as output increases, the labor demand will recover. The results of ex-post test are consistent with that of the ex-ante analysis. Additionally, heterogeneity test reveals that the greater the elasticity of capital-labor substitution of the sub-industry is, the more severe the degree of the V-shaped fluctuation is. Following the implementation of the policy, the continuous increase in enterprise output and capital stock verifies the relevant transmission mechanism. This study provides a more detailed perspective for comprehensively understanding the impact of VAT credit refunds policy on employment. [ABSTRACT FROM AUTHOR]

With the increasing importance of the stock market, it is of great practical significance to accurately describe the systemic risk of the stock market and conduct more accurate early warning research on it. However, the existing research on the systemic risk of the stock market lacks multi-dimensional factors, and there is still room for improvement in the forecasting model. Therefore, to further measure the systemic risk profile of the Chinese stock market, establish a risk early warning system suitable for the Chinese stock market, and improve the risk management awareness of investors and regulators. This paper proposes a combination model of EEMD-LSTM, which can describe the complex nonlinear interaction. Firstly, 35 stock market systemic risk indicators are selected from the perspectives of macroeconomic operation, market cross-contagion and the stock market itself to build a comprehensive indicator system that conforms to the reality of China. Furthermore, based on TEI@I complex system methodology, an EEMD-LSTM model is proposed. The EEMD method is adopted to decompose the composite index sequence into intrinsic mode function components (IMF) of different scales and one trend term. Then the LSTM algorithm is used to predicted and model the decomposed sub-sequences. Finally, the forecast result of the composite index is obtained through integration. The empirical results show that the stock market systemic risk index constructed in this paper can effectively identify important risk events within the sample period. In addition, compared with the benchmark model, the EEMD-LSTM model constructed in this paper shows a stronger early warning ability for systemic financial risks in the stock market. [ABSTRACT FROM AUTHOR]

Background: Fertility intentions, as a direct driver of fertility behavior, play an important role in the implementation of national fertility policy and population development. This study explored the influencing factors of college teachers' second child fertility intentions in Jinan, China on the basis of TPB. Methodology/Principal findings: Based on the theory of planned behavior, this paper employs basic characteristics analysis, difference analysis, and factor analysis related to the fertility intentions of the participants. Analysis found participants between 31 and 40 years old had the highest second child fertility intentions, and participants with a college-age first child had the lowest second child fertility intentions. Attitude and subjective norms had a positive impact on second child fertility intentions, and policy awareness had a positive impact on attitude, which indirectly affected second child fertility intentions. Subjective norms had the greatest influence on second child fertility intentions, followed by attitude, and policy awareness had the least influence on second child fertility intentions. Significance/Future research: The findings of this paper can enrich the theoretical research on fertility intentions, and also provide more optimal practical references for the formulation and propagation of China's fertility policy as well as the improvement of the division of family roles in China. Future research can further explore the impact of fertility policy on the fertility intentions of other groups. [ABSTRACT FROM AUTHOR]

The government's environmental protection policy can significantly contribute to alleviating resource shortages and curbing environmental pollution, but the impact of various policy instruments implemented by the government on energy efficiency is unclear. Based on the panel data of 30 provinces in China from 2005 to 2021, this paper analyses the impact of environmental regulation and the industrial structure on energy efficiency from the perspective of resource taxes. The U-shaped relationship between environmental regulation and energy efficiency and between the optimization of industrial structure can significantly improve energy efficiency, and the optimization of industrial structure is conducive to weakening the initial inhibitory effect of environmental regulation. In addition, the analysis of regional heterogeneity showed that the impact of environmental regulation was stronger in the central and western regions, while the impact of industrial structure was stronger in the eastern and western regions. The conclusions of this study can help to expand the understanding of the relationship between environmental regulation and industrial structure on energy efficiency, provide policy enlightenment for the realization of green development and high-quality development, and provide Chinese examples and experiences for developing countries to improve energy efficiency. [ABSTRACT FROM AUTHOR]

Major product safety incidents often cause widespread concern among consumers, and these product safety incidents will stimulate consumers' psychology, change their risk perception, and affect the demand for products and services of risk consumers. The change in consumer demand will eventually lead to a change in firm innovation decisions. Using Chinese firm-level data, this paper employs the news reporting of the Bawang event as a quasi-natural experiment to study the impact of risk perception changes on innovation. The empirical results of this study show that increasing consumers' risk perception caused by the negative news coverage of defective products motivates firms to increase their innovation. The effects are heterogeneous, where firms with private ownership and in developed regions are more likely to increase innovation activities. This study suggests that the relationship between consumers' risk perception and firm innovation is primarily driven by market demand. Moreover, the positive effects of risk perception on innovation are more prominent for downstream firms and those having a smaller technological distance. [ABSTRACT FROM AUTHOR]

Digital rural construction is a key strategic direction to promote China's rural revitalization and alleviate global climate problems. In order to put forward feasible suggestions for the subsequent development and ensure the smooth development of digital village construction, how to reflect the development level of the digital village through scientific and reasonable comprehensive evaluation has become an urgent problem to be solved. This paper establishes a comprehensive evaluation index system through the Delphi method and principal component analysis method, then assigns weights to the evaluation indicators based on the improved CRITIC-G1 method, and then grades the development level of digital villages according to the extension matter element method. Finally, taking Jiangxi Province in China as an example, the overall development level of digital villages in Jiangxi Province is evaluated from the provincial level according to the proposed method. And put forward the corresponding countermeasures and suggestions. Results: Firstly, the development level of digital villages in Jiangxi Province is good, and there is a trend of excellent development level. Secondly, from different aspects of digital rural development, the digitalization of infrastructure, services, economy, and green production in Jiangxi Province is at a good level, and the digitalization of life has reached an excellent level. Thirdly, from the perspective of development trends, the digitization of infrastructure has a progressive trend towards an excellent level of development, while the digitization of services, economy and green production has signs of development regression. According to the analysis results, the relevant countermeasures and suggestions are put forward from four aspects: talent, capital, governance system and development planning. Other regions can evaluate the development level of the digital village according to the evaluation model proposed in this paper so as to analyze the existing problems and put forward targeted solutions to promote the construction of the digital village. [ABSTRACT FROM AUTHOR]

The global digital wave has flourished in recent years, and the digital technology revolution has emerged. Digitalization plays an undeniable role in promoting modern economic and social development in multiple aspects such as economy, society, innovation, public services and sustainable development, China's digitalization application is also developing rapidly. In order to better measure the current situation of China's digitalization development level, this paper constructs a comprehensive evaluation index system of digitalization development from four dimensions of talents in the digital field, digital infrastructure construction, digitalization innovation ability and international competitiveness, and tests the index system. The entropy method is used to measure the level of digitalization development between China and the United States, the United Kingdom, France and other major developed countries in the world, and the coefficient of variation method, kernel density estimation and Dagum Gini coefficient method are used to analyze the temporal and spatial characteristics and regional differences of digitalization development level of seven countries. This paper makes a comparative analysis between China and major developed countries from the historical perspective of the evolution of the techno-economic paradigm. With a view to summarizing and exploring from it and drawing on the advanced experiences accumulated by the developed countries over a long period of time, so as to provide China with useful insights and bases for further enhancing its digitalization development level. [ABSTRACT FROM AUTHOR]

The Yangtze River Delta (YRD) bears the vital task of driving the growth of China's equipment manufacturing industry (EMI) intelligence as an advanced region. Fostering the transformation and upgrading of the EMI in the YRD and constructing a modern production mode is vital to developing and reforming China's manufacturing industry. This paper uses industrial robot data to assess the level of intelligence (LoI) in the EMI from 2016 to 2019. The OLS (ordinary least squares) model is used for the measurements, and the MQ (the modified contribution index) is used to estimate the degree of contribution from a host of variables. It is identified that the LoI is on the rise. However, excluding railways, aerospace, shipbuilding, and other transportation equipment manufacturing, the LoI is significantly higher than in other subsectors. It is also identified that technological innovation ability, human capital density, and enterprise cost pressure govern the industry's LoI. Moreover, while there is a difference in the main influencing factors in LoI within different industries, R&D investment, technological innovation ability, and enterprise cost pressure have the most significant impact across most equipment manufacturing sub-industries. [ABSTRACT FROM AUTHOR]

In implementing the equity incentive system, this paper delves into the listed enterprises' selection of equity incentive models. While previous research has extensively covered the effects, models, and influencing factors of equity incentives, there needs to be more in-depth literature focusing on the diverse incentive models and their impact on corporate performance. Notably, there needs to be more literature on considering entrepreneurial spirit as a mechanism. It aims to explore the relationship between executives' choices under different incentive models, the entrepreneurial spirit fostered by these models, and their combined impact on corporate performance. The findings reveal that adopting the restricted stock incentive model by listed enterprises implementing the equity incentive system significantly positively affects enterprise performance. Mechanistic tests show that when a company implements the restricted stock incentive model, executives prioritize maximizing their interests, leading them to embrace more risk in their investment decisions. This behavior, in turn, stimulates the adventurous spirit of executives, positively impacting enterprise performance, particularly pronounced in companies with more concentrated executive power. Moreover, executives may be more inclined to invest in high-risk, high-reward innovative projects, a behavior indicative of innovation and more prevalent in firms with higher research and development (R&D) investment. However, the limitation of this paper is that the study evaluates the operation of the equity incentive system in China by taking listed companies in China as an example, which is not necessarily suitable for foreign developed capitalist countries. This study contributes to the study of principal-agent problems by exploring the relationship between executives, entrepreneurship and firm performance. [ABSTRACT FROM AUTHOR]

Green and low carbon reflect the high-quality development, while income distribution is an indicator of the balance of development. Is there a lack of fairness in the process of green and low carbon transition of enterprises? Using data from A-share listed companies from 2009 to 2016, this paper constructs a DID identification framework for controlling the endogeneity problem using the 2013 carbon trading policy pilot as a quasi-natural experiment to empirically test the impact of corporate low-carbon transformation on corporate labor income share in the context of carbon trading policy. The findings indicate that carbon trading policy decreases the labor income share of firms. In addition, we demonstrate that the low-carbon transition promotes labor productivity, suggesting that the Porter's hypothesis is confirmed in China, but the increase in labor wages is not in tandem with productivity growth, resulting in reduced labor income share. Heterogeneity analysis shows that the impact of carbon trading policy on labor income share is mainly pronounced in larger firms, high technology firms and persistent incumbent firms. Collectively, these results are expected to accurately improve our understanding on the impact of low-carbon transformation of enterprises on income distribution and provide reference for the government to formulate industrial policies and distribution mechanisms under low-carbon economy. [ABSTRACT FROM AUTHOR]

The competition in the world has shifted from natural resources and capital resources to human resources. The human resources have become the real power source of the economic growth. Firstly, the price of human resources in China is calculated. Secondly, in order to measure the human resources quality adjustment index, the indicators system is constructed. Third, the Hedonic method is used to calculate the human resources "pure price" of 31 provinces (autonomous regions and municipalities directly under the Central Government) in China. The "pure price" has no the factor of human resources quality. Lastly, comparing the price of human resources before and after quality adjustment. The results show that: first, the number of human resources in China increased continuously during 1995–2015 and decreased during 2016–2020. Second, the price of nominal human resources in China keeps rising. In 2020, the nominal price is 39,087 yuan per person which is 15.44 times as many as in 1995. Thirdly, after the quality adjustment, the price of human resources has decreased significantly. The multiple between the actual and nominal price of human resources is between 1.75 and 2.12. Fourthly, the province with high human resource quality adjustment index generally have high quality human resource level or quantity. Fifth, the top five provinces of actual human resource prices are Shanghai, Beijing, Guangdong, Tianjin, Zhejiang, the bottom five provinces are Guizhou, Yunnan, Henan, Xizang, Gansu. Finally, the paper puts forward some policy recommendations: Improving the data collection mechanism of human resources accounting to provide a basic guarantee for the accurate accounting of human resources. Improving the price of human resources in the central and western regions to attract the talents to transfer to the central and western regions. Enhancing the skills training of human resources to improve the quality of human resources in the western region. [ABSTRACT FROM AUTHOR]

The low-carbon economy represents a global transformation that encompasses production methods, lifestyles, values, national interests, and the destiny of humanity. As a significant contributor to carbon emissions, China has made a momentous strategic decision on carbon peaking and neutralization, infusing momentum into the global effort to address climate change. The rapid growth of the digital economy offers a fresh approach to achieving the "double carbon" objective and advancing the development of low-carbon transformation. Based on the panel data of 30 provinces in China, this paper uses the least square method to investigate the impact of digital economy development on regional low-carbon inclusive development. It is found that there is a significant inverted U shape in the impact of the digital economy on low-carbon inclusive development and the mechanism is resource allocation and ecological inequality. The threshold test found that the role of the digital economy in promoting low-carbon inclusive development shows a marginal decreasing trend. The inverted U-shaped impact of the digital economy on low-carbon inclusive development in the eastern and coastal areas and areas with a low level of factor productivity is more significant. Based on the knowledge factor spillover perspective, we found that the impact of the digital economy on low-carbon inclusive development has a spatial spillover effect, and this effect is more obvious under the role of R&D personnel mobility. [ABSTRACT FROM AUTHOR]

The organizational forms of infrastructure in China are divided into two categories, the traditional Public Procurement Model (PUB) model and Public–Private Partnership(PPP) model. The main difference is the separation or binding of the construction and operation phases. A systematic understanding is needed of how Chinese local governments choose between these two models. In this paper, we take public capital congestion and local government objectives as the entry point to study the effects of both on PPP choice. Firstly, by constructing an endogenous economic growth model under the PPP model, and comparing it with the model under the PUB model, this paper initially explains how the rise in public capital congestion affects the choice of the PPP by growth-oriented local governments. Then the data from prefecture-level cities from 2009–2018 are utilized to conduct empirical tests. We find that urban economic growth pressures have a positive effect on the choice of PPP when the congestion of public capital increases. Furthermore, the implementation of PPP is indeed conducive to economic performance, and its core mechanism is to provide more infrastructure (like roads) rather than tax competition. The PPP model is more sustainable. We are the first to employ both modeling approach and the empirical research to address the implementation of Public–Private Partnership in China. And we have systematically analyzed the conditions and results of PPP selection by local governments. It formulates the Chinese PPP theory. [ABSTRACT FROM AUTHOR]

This paper utilizes an improved undesirable output DEA model to measure the eco-efficiency of cities in five major urban agglomerations in China during 2006–2020. It employs the Theil Index and Geodetector to investigate the spatial-temporal distribution differentiation characteristics and driving factors of urban eco-efficiency. The main findings are as follows. Firstly, the eco-efficiency of all urban agglomerations showed a fluctuating upward trend, but the eco-efficiency performance of different urban agglomerations in China shows a stratification characteristic. Specifically, the Pearl River Delta urban agglomeration consistently ranks first in China, while the mean values of the Yangtze River Delta urban agglomeration, Beijing-Tianjin-Hebei urban agglomeration, and Chengdu-Chongqing urban agglomeration are lower than the national average. Secondly, the overall differences in the urban eco-efficiency of all sample cities show a consistently fluctuating downward trend. The factor that affects the level differences of eco-efficiency in different cities is the intra-regional differences. Last but not least, the top three factors affecting the spatial distribution difference of urban eco-efficiency in the whole sample are environmental pollution control investments, innovation level, and environmental infrastructure investments. In the end, this paper proposes that reducing the intra-regional differences is the primary task to achieve the coordinated improvement of urban eco-efficiency in urban agglomerations, and then puts forward some policy suggestions to improve eco-efficiency for the five major urban agglomerations. [ABSTRACT FROM AUTHOR]

Judicial improvement and trade structure optimization are important elements in achieving a high level of openness. This paper develops a theoretical framework on the impact of local protectionism on market integration and export technical complexity, and then empirically analyses the effect of judicial improvement on the technical complexity of urban product exports and its mechanism of action based on a quasi-natural experiment with the establishment of circuit courts. The study finds that the establishment of circuit courts significantly increases the technical complexity of product exports, and the findings remain valid after a series of robustness tests. Further analysis shows that the technology enhancement effect of the establishment of circuit courts is more pronounced in the group of cities with higher administrative levels, better location advantages, and less advanced rule of law. Mechanism Analysis shows that a superior institutional environment can have a two-sided effect on different types of firms. Overall, however, the productivity-enhancing effect of low-productivity firms exiting the market is lower than the productivity-reducing effect of higher-productivity firms' increased compliance costs, which in turn weakens the positive promotional effect of circuit courts. The above theoretical and empirical findings provide policy implications for maximizing the technology enhancement effect of the establishment of circuit courts on product exports, thereby promoting a high level of openness in China. [ABSTRACT FROM AUTHOR]

Based on the unbalanced panel data of Chinese professional health insurance companies from 2011 to 2021, the paper constructs "PW+PCSE" model to empirically investigate the main factors affecting the commercial health insurance surrender in China from the company level. The results show that asset-liability ratio has a significant positive effect on health insurance surrender rate. The value preservation and appreciation rate of capital and R&D expenditure rate both have significant negative effects on health insurance surrender rate. These studies bring important enlightenment for domestic health insurance companies to avoid surrender risk. [ABSTRACT FROM AUTHOR]

With the intensification of global economic competition, innovation has become one of the core elements of vigorous development in various regions. Improving the innovation ability of cross-regional central cities is the main factor influencing whether a region can achieve economic and social development. In this paper, an innovation primacy index system is designed according to the links of the innovation value chain, and the innovation advantages and empirical effects are comprehensively analyzed by using the point-to-point method, entropy weight method, gravity model and two-way fixed effect model. Based on the data of 8 cities in the core area of the Huaihai Economic Zone from 2010 to 2020 in China, Xuzhou's innovation primacy ranks first in the core area of the Huaihai Economic Zone, which accords with its status as the central city of the region. Its index has been rising, and its development trend is also good. However, the overall innovation ability of the core area of the Huaihai Economic Zone is unbalanced; the overall economic foundation is not solid enough. In terms of knowledge innovation, R&D innovation and industrial innovation, the industrialization level, around the activation of Xuzhou city vitality, enhances the Xuzhou innovation radiation drive, leading to a decrease in the Huaihai Economic Zone. Finally, some corresponding suggestions on innovation primacy have been proposed for the city of the Huaihai Economic Zone. [ABSTRACT FROM AUTHOR]

Digital economy has become a "new engine" that driving global economic growth. Nevertheless, numerous controversies persist regarding whether and how digital economy can facilitate the development of emerging industries. Thus, this paper investigates how digital economy affects creative industries development in China and whether innovation efficiency mediates this relationship. Drawing upon a panel data set containing 29 Chinese provinces from 2012 to 2019, an econometric model is constructed for empirical analysis. We find that digital economy significantly promotes creative industries development, and innovation efficiency plays a partial mediating role between digital economy and creative industries development. According to the influence mechanism, the digital economy of various regions could promote the creative industries development by improving the innovation efficiency. Finally, relevant suggestions were put forward from the expanding application paths, improving regional innovation efficiency, and creating an innovative environment. [ABSTRACT FROM AUTHOR]

China's agricultural economy has been hindered by insufficient accumulation of agricultural capital and credit constraints. It is worth investigating whether China's county financial marketization reform policy can alleviate these constraints and promote high-quality development of the agricultural economy (HQDAE). This paper presents an empirical analysis of the impact of county financial marketization reform on the HQDAE, based on county panel data. The focus is on the mechanism of county urbanization in the above relationship. The results show that county financial marketization has a significant non-linear impact on the HQDAE. Specifically, it has a 'U-shaped' impact on the overall growth of the agricultural economy and an inverted 'N-shaped' impact on the quality improvement of the agricultural economy. Secondly, the relationship between county financial marketization and the HQDAE is influenced by a threshold effect based on the level of county urbanization. As the level of county urbanization increases, the promoting effect of county financial marketization on HQDAE also increases significantly. Additionally, county financial marketization helps to promote county urbanization and accelerate urban-rural integration, which in turn leads to HQDAE. The research in this paper suggests that county-level local governments should promote a differentiated county financial system. In the early stages of financial market-oriented reform, the government should enhance the capacity of financial services in rural areas through tax breaks, policy incentives, and other measures to prevent financial leakage from agriculture. In the later stages of financial marketization reform, the government should strengthen financial supervision to prevent financial resources from being diverted from industry to capital. Moreover, to achieve the HQDAE, it is necessary to promote county financial market-oriented reform and accelerate the construction of county urbanization. This will help break the dual economic structure of urban and rural areas and promote the flow of financial capital, technology, and human capital from county cities to rural areas. [ABSTRACT FROM AUTHOR]

The development of information technology has created conducive conditions for the digital economy. The digital economy is regarded as a critical pathway for transforming traditional economic models. Green total factor productivity serves as an indicator for assessing the quality of economic development. During pivotal periods of economic transition, the digital economy and green total factor productivity have emerged as two prominent themes for achieving sustainable economic development. But the impact of digital economy on green total factor productivity is less discussed. Innovation environment refers to a confluence of conditions shaped by factors such as talent, funding, cultural atmosphere and government policies, all of which collectively support innovative activities within a region. The institutional environment encompasses the aggregate of economic, political, social, and legal rules. Currently, there is little discussion on bringing innovation environment and institutional environment into the impact of digital economy on green total factor productivity. To fill the research gap, this paper adopts the Slack based measure-Directional distance function model and Malmquist-Luenberger productivity index to measure green total factor productivity in each region based on the panel data collected from 30 provinces in China from 2004 to 2019. Generalized Method of Moments method is constructed to carry out an empirical study on the impact of digital economy on green total factor productivity. This paper constructs a panel threshold model with innovation environment and institutional environment as threshold variables. In further analysis, this paper employs panel quantile regression for the empirical analysis of the impact of the digital economy on green total factor productivity. Further analysis elucidates the evident disparities in the influence of the digital economy on green total factor productivity at various levels. The research results can provide a guide for discussing the green value of the digital economy and its role in fostering the development of a green economy. [ABSTRACT FROM AUTHOR]

As the digital revolution deepens, the digital economy (DE) is reshaping the global industrial structure (IS). This paper utilizes data from 280 Chinese cities between 2007 and 2020 to conduct an in-depth analysis of how DE propels the upgrading of IS and explores the role of human capital (HC) in this process. The research indicates that DE significantly fosters the optimization of IS. Additionally, it was discovered that the growth of HC plays a pivotal mediating role in this evolution, complementing existing research on the relationship between higher education and industrial upgrading. By adopting spatial econometric methods, this study unveils the spillover effects of DE in geographical space, identifying a positive influence on the industrial upgrading of surrounding regions. The paper also confirms the nonlinear characteristics of DE's impact on IS upgrading, which manifests as a pronounced inverted U-shaped trend, marking a novel discovery. Further findings suggest that in regions with more advanced artificial intelligence technologies, the impact of DE on industrial optimization is more significant, highlighting the role of regional disparities in the digital transformation. In conclusion, the paper proposes policy recommendations based on the research findings to facilitate the development of DE and the elevation of IS levels, thereby promoting high-quality economic growth. [ABSTRACT FROM AUTHOR]

The development of digital economy is a strategic choice to grasp the revolution of new science and technology and the new opportunities of industrial reform. The development of digital economy depends on the good support of policy and theoretical system. Therefore, the quantitative evaluation of policy texts provides the basis of decision-making and the suggestions of path optimization for the formulation and improvement of digital economy policy of China. By selecting the text of digital economy policy issued by China government, the paper constructs a quantitative evaluation model of digital economy policy using the methods of content analysis and text mining. The empirical research results show that the overall design evaluation of the selected policy is relatively reasonable. Six policies were evaluated as excellent and two as acceptable. In view of the problems such as lack of predictive policy in the policy type, lack of specific policy in the policy timeliness, imbalance in the use of policy guarantee, and lack of comprehensive coverage in the policy objectives, the paper puts forward corresponding countermeasures and suggestions. [ABSTRACT FROM AUTHOR]

Improving green innovation efficiency (GIE) is the key to achieve high-quality economic development in China, and the introduction of foreign direct investment (FDI) has become an important path choice to promote the GIE. Based on the data of 30 provinces in China, this paper explores the linear and nonlinear effects of FDI on GIE from both quantity and quality perspectives, and further analyzes the mediating role of environmental regulation level. The results show that: (1) From 2011 to 2020, the GIE of all provinces in China generally shows an upward trend. (2) The quantity and quality of FDI have a significant positive impact on the improvement of GIE in China's provinces, and this impact has regional heterogeneity. (3) The quantity and quality of FDI can promote the improvement of GIE in China through the level of environmental regulation (ER). (4) With the level of knowledge accumulation and GIE as the threshold variables, the quantity and quality of FDI have a single threshold effect on the GIE of China's provinces. The conclusions of this study provide some policy implications for local governments to make full use of FDI to perform green innovation activities. [ABSTRACT FROM AUTHOR]

The establishment of green finance reform and innovation (GFRI) pilot zone is an important measure of the Chinese government to urge enterprises to develop green transformation. This paper explores the impact of pilot policies in the GFRI pilot zone on corporate environmental investment. Based on 819 A-share listed enterprises from 2010 to 2020, our staggered difference-in-differences (staggered DID) estimation documents revealed that enterprises in the GFRI pilot zone significantly increased the corporate environmental investment efficiency but reduced the scale of corporate environmental investment.This conclusion remained robust after Propensity Scores Matching difference-in-differences (PSM-DID), replacing dependent variables, and shortening the time window. We contend that the increased research and development (R&D) expenditure and technological innovation are the potential mechanisms at work. Heterogeneity analysis showed that the establishment of GFRI improved the environmental investment efficiency of polluting enterprises but had no effect on green enterprises.Meanwhile, the effect of GFRI exhibited heterogeneity in the type of enterprise ownership. This paper evaluates the implementation effect of GFRI from the perspective of corporate environmental investment, and provides theoretical support and an empirical basis for green finance policy to serve China's green economy. [ABSTRACT FROM AUTHOR]

Resident consumption is an important link to smooth the domestic circulation and promote the economy to achieve high-quality development. To stimulate the vitality of residents' consumption and achieve the expansion and quality of consumption, we should not only focus on the scale and willingness of residents to consume, but also consider the motivation of consumption. The paper analyzes the impact of intergenerational income mobility on residents' marginal propensity to consume and consumption altruism motive by expanding the Over Lapping Generation Models and combining the China Family Panel Studies (CFPS) data. The results of the study show: Intergenerational Income Elasticity has a significant positive effect on residents' marginal propensity to consume. When Intergenerational Income Elasticity increases, the "altruistic motive" of residents' consumption will also increase significantly. Compared with rural residents, Intergenerational Income Elasticity has a stronger positive effect on urban residents' marginal propensity to consume and marginal propensity to consume education. With the effect of intergenerational factors, urban residents' consumption shows stronger altruistic motives. [ABSTRACT FROM AUTHOR]

Environmental pollution has become a pressing global issue, severely threatening human health and ecosystems. As an emerging driver of economic development in countries worldwide, the digital economy (DE) has the potential to enhance resource utilization efficiency and promote the development of clean technologies, thereby reducing environmental pollution. Based on the panel data of 267 cities in China from 2012 to 2021, the spatial econometric model is used to test the impact of DE on environmental pollution. The mediating effect model is used to explore the transmission mechanism of DE affecting environmental pollution. The panel threshold model is used to examine the threshold effect of marketization. The results are as follows: (1) DE can significantly reduce environmental pollution. The conclusion is still valid after conducting robustness tests such as selecting historical data as instrumental variables and the "Broadband China" pilot as a quasi-natural experiment. (2) From the perspective of transmission mechanism, DE can reduce environmental pollution through green technology innovation and industrial structure upgrading. (3) From the perspective of spatial spillover effect, DE can reduce the environmental pollution level of surrounding cities. (4) From the perspective of threshold effect, DE has obvious market-oriented single threshold effect on environmental pollution. When the marketization level crosses the threshold of 11.6611, the emission reduction effect of DE is significant. (5) From the perspective of heterogeneity, DE has a heterogeneous impact on environmental pollution in cities with different geographic locations, resource endowments and administrative level. Regarding geographical heterogeneity, DE can effectively reduce environmental pollution in eastern and central regions, but has no significant impact on environmental pollution in western regions. Regarding the heterogeneity of resource endowment, compared to non-resource-based cities, resource-based cities suffer more from the negative effects of DE on their environment. Regarding the heterogeneity of administrative levels, compared with non-central cities, the DE of central cities has a greater emission reduction effect. Based on empirical results, this paper proposes strategic recommendations in areas such as enhancing the application of DE in emission reduction, upgrading industrial structures, promoting green technology innovation, and improving the level of marketization. This study not only enriches the research of DE and environmental pollution, but also provides a reference for the formulation of environmental pollution control policies. [ABSTRACT FROM AUTHOR]

Resource-based regions support national economic development and are essential sources of basic energy and raw materials. In the post-pandemic era, however, there are practical situations to deal with, such as a fractured industrial chain, a weaker industrial structure, and a sharp reduction in economic benefits. Based on data collected from 68 cities in China, from 2010 to 2021, with 816 observations, this paper explores the industrial development process of resource-based regions in China and the change in the toughness of the industrial structure under the impact of COVID-19. The paper studies and analyzes industrial development trends, industrial structure toughness, and spatial spillover effects. The methods used are the Markov chain model and the Industrial Structure Advancement Index. By building the spatial Dubin model, the paper analyzes the spatial spillover effect of regional industrial development. It decomposes the spillover effect using the partial differential model based on regression. The results show that, during the study period, the comprehensive development level of industries in resource-based regions in China was slowly improving and tended to stabilize after entering the post-pandemic era. The evolution of an advanced industrial structure is significantly heterogeneous among regions, and each region has different toughness. The impact of COVID-19 has reduced the toughness of China's resource-based regions' industrial structure. The spatial spillover effect of regional industrial development is significant. Labor force, technology input, and industrial-structure optimization have different impacts on the industrial development of neighboring regions. In the post-pandemic era, China has used new management methods for more innovation. In order to achieve low-carbon, environmental protection, and sustainable development of resources, realize the rapid recovery of the toughness of industrial structure in China's resource-based cities, and reduce the impact of the COVID-19 pandemic, China proposes to expand the supply of resources, improve the allocation of resources, optimize the direction, promote the rational flow and efficient aggregation of various factors, and enhance the impetus for innovation and development. [ABSTRACT FROM AUTHOR]

Green credit is changing industrial structure and corporate behavior, but little attention has been paid to the relationship between green credit and corporate cash management behavior. Based on the typical fact that the allocation of traditional bank credit funds is biased towards heavily polluting industries and the exogenous impact event of green credit policy, this paper takes A-share listed companies in China's capital market from 2008 to 2015 as samples, and uses the DID model to investigate the impact of green credit policy on excess cash holdings of heavily polluting enterprises. The findings indicate that the green credit policy has reduced the excessive cash holdings of heavily polluting enterprises, suggesting that it can correct the issue and align their cash holdings with the requirements of normal production and operations. The mechanism test demonstrates that the green credit policy can alleviate agency conflicts and influence enterprise cash holdings. Moreover, a cross-sectional investigation reveals that the inhibitory effect of the green credit policy on cash holdings is more pronounced in large-scale and state-owned enterprises compared to small-scale and non-state-owned enterprises. Finally, an analysis of the economic consequences reveals that the green credit policy indirectly enhances corporate value by reducing excessive cash holdings. Based on this, banks and financial institutions continue to treat the credit granting of heavily polluting enterprises cautiously, optimize the structure of green financial products, fully consider the different types and nature of customers, and develop differentiated lending conditions and diversified evaluation mechanisms. This paper has enriched the research on the economic consequences of green credit and the influencing factors of corporate cash holdings, and provided policy enlightenment for regulators and listed companies to correctly understand and make full use of green credit policies to keep corporate cash stable through the crisis. [ABSTRACT FROM AUTHOR]

Based on the data of China Family Panel Studies (CFPS), this paper decomposed Chinese residents' income into labor income and capital income by income source, and measured the income inequality and income composition inequality of Chinese residents during 2010–2018. We take the Gini coefficient as a measure of inequality and, by decomposing it by income source, analyze the absolute and relative marginal effects of capital income and labor income on the overall income inequality. On this basis, this paper discusses the redistributive effect of financial instruments such as personal income tax and transfer payment on income inequality and income composition inequality. The results show that capital income is not only the main driving factor for the increase of overall income inequality, but also its influence on inequality is gradually increasing. The results of the redistribution effect of fiscal instruments show that although individual income tax and transfer payment both help to reduce the overall income inequality, only individual income tax can reduce the inequality of income composition, while transfer payment will exacerbate it. In the background of the rising share of capital income, it may widen the income distribution gap in the long run. Hence, future fiscal redistribution efforts should consider the income composition inequality. This includes further promotion of individual income tax reforms, optimization of the tax rate structure, enhancement of relevant tax laws governing capital income like property income, and continuous improvement in the redistributive impact of fiscal instruments. [ABSTRACT FROM AUTHOR]

This paper presents new evidence on knowledge flows in the Beijing-Tianjin-Hebei region of China, involving 43 cities (districts) in the Beijing-Tianjin-Hebei region, based on the invention patent transfer data from the State Intellectual Property Office of China. First, the characteristics of technology flows in the Beijing-Tianjin-Hebei region are analyzed in terms of changes in the number of flows, types of flowing subjects and spatial distribution characteristics. Then, a multi-level patent technology flow network in the Beijing-Tianjin-Hebei region was constructed, and the structural characteristics and node characteristics of each level network were explored separately. The key findings of the study are as follows. (1) The number of patented technology flows has been growing over time, showing obvious phase characteristics during the study period. As a whole, the intra-city (district) technology flow in the Beijing-Tianjin-Hebei region is higher than the inter-city (district). (2) The multi-level patent technology flow network in the Beijing-Tianjin-Hebei region shows dynamic characteristics, with more and more mobile subjects participating in the patent technology flow network, some network nodes becoming closer to each other, and the trend of small group technology flow increasing significantly. (3) Enterprises are the core hub of the patent technology flow network in Beijing-Tianjin-Hebei region. Individual invention patent technology transfer also occupies a high proportion and the participation of universities and colleges in the patent technology flow network in the Beijing-Tianjin-Hebei region is gradually increasing. (4) Over time, the flow of patent technology in the 43 cities (districts) in the Beijing-Tianjin-Hebei region has gradually become active and no longer relies excessively on a particular city (district) for patent technology transfer. [ABSTRACT FROM AUTHOR]

In the context of global aging, promoting the health of the elderly has become a critical issue. However, whether the development of smart cities can impact the health of older adults remains to be further validated. In this paper, based on panel data from the China Health and Retirement Longitudinal Study (CHARLS), a difference in difference model is used to empirically investigate whether smart city construction improves the health of older people in the region. The results show that smart city construction enhances the health of the elderly. Specifically, the construction achieved a significant improvement in the physical health of the elderly who did not live with their children. The health promotion effect of the smart city was more significant for the urban elderly than for the rural elderly. The elucidated mechanisms of influence suggest that smart cities bring about their effects through the promotion of urban leisure infrastructure, enhancement of medical service provision, advancement in urban environmental protection and stimulation of urban information and communication technology infrastructure development. [ABSTRACT FROM AUTHOR]

Reducing carbon emission intensity is crucial for achieving sustainable development. Carbon emission intensity is expressively affected by the issuance of green bonds. Thus, it is imperative to assess the influence of green bond issuance on carbon emissions and examine their correlation. Such research holds great potential to expedite the overhaul and modernization of businesses and to construct a circular economy system. This paper uses the spatial Durbin model to draw empirical conclusions by using data from 26 provinces in China between 2016 and 2021. Firstly, under different spatial matrices, it has been analyzed that an increase of 1% in the issuance of green bonds leads to a reduction of 0.306% or 0.331% in carbon emission intensity. It shows that green bonds have the potential to substantially reduce carbon intensity. Additionally, the intensity of emissions in the current period is driven by the intensity of emissions in the previous period. Secondly, the analysis of mediated transmission suggests that green bonds can ultimately reduce carbon emission intensity by changing the energy consumption structure or improving the efficiency of green technology innovation. Thirdly, the analysis of heterogeneity shows that the inhibitory effect of green bond issuance on carbon emissions is stronger in less economically developed regions than in economically developed regions. There is a significant inhibitory effect of green bond issuance in neighboring provinces on local carbon emission intensity. This effect is present only in provinces in less economically developed regions and not in economically developed regions. [ABSTRACT FROM AUTHOR]

There is a huge funding gap in the abandoned mines ecological restoration in China. It is of great research value to explore how PPP model can better introduce social capital into the low-profit ecological restoration of abandoned mines. Based on the innovation perspective of the central government's reward and punishment system, this paper constructs an evolutionary game model of "local government-social capital", analyzes the interaction and behavior mechanism of core stakeholders in the operation process of abandoned mines ecological restoration PPP mode, and discusses the influence of evolutionary equilibrium strategy and parameters change on evolutionary strategy under different scenarios by Matlab simulation. The research shows that the abandoned mines ecological restoration needs the support of the central government. When the local government lightly punishes the low-quality service of social capital, the central government needs to pay higher costs to promote all parties to actively participate in the operation and supervision of the PPP project. The revenue and cost of government supervision, the operating subsidy for social capital and the cost saved by social capital in providing bad service are the key factors affecting the evolution of the game between government and social capital. Punishment can effectively spur social capital to keep the contract and operate in the project, but the punishment effect will be ineffective without government supervision. Finally, some suggestions are put forward, such as establishing a long-term supervision mechanism and a reasonable income mechanism for PPP projects, increasing penalties for violations, attracting third parties to reduce supervision costs and strengthening communication between the two parties, so as to make the project take into account the economic performance of social capital and the social welfare of government departments, and achieve dual Pareto improvement. [ABSTRACT FROM AUTHOR]