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This study examines the influence of environmental, social, and governance (ESG) performance on corporate trade credit financing based on Chinese A-share listed companies' data from 2018 to 2022. The empirical results revealed that enterprises with better ESG performance receive more trade credit from suppliers. This study found that ESG performance has a significant effect on trade credit in customer industries, polluting industries, and enterprises with high supplier concentration and low government grants. The Mechanism analysis indicated that ESG performance minimizes information and agency risks, thereby affecting trade credit. Further examination indicated that a firm's degree of maturity weakens the beneficial influence of ESG performance on trade credit and that a substitution relationship exists between corporate maturity and ESG performance in trade credit financing.

The application of grooved surface structure is an emerging and effective means in turbulence flow control. However, for a realistic configuration, the global flow field described directly by simple application of massive grids makes it unfeasible to simulate. In this paper, a boundary surrogate model reproducing the effect of microscopic near-wall region is proposed to improve computational efficiency. The surrogate model trained with Lattice Boltzmann Method (LBM) considering the rarefied effect based on real micro/nanoflow field is new among literature, which accurately shows flow characteristics of the micro/nano structure. With this approach, numerical simulations via Reynolds-averaged Navier Stokes equations with modified wall boundary condition are performed in subsonic and transonic flow. The results show that micro/nano grooved surface structure has the effect of delaying transition from laminar to turbulence, thus reducing the skin friction significantly. Analysis of turbulence intensity and turbulence kinetic energy shows that the near-wall flow field of grooved airfoil is more stable compared with that of the smooth airfoil. The reducing rate of maximum turbulent intensity reaches 13.39%. The paper shows a perspective for further application of micro/nano groove structure to turbulence flow control in aircraft design by providing an accurate and efficient simulation method.