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This study assesses the global and cross-regional influence of China's currency, the renminbi (RMB). We first develop a theoretical framework to determine the channel through which progress in RMB internationalization can be mapped onto the market influence of the RMB exchange rate on that of other currencies. Using a volatility connectedness approach, we then construct a series of spillover indices reflecting the international influence of the RMB. We find that the RMB's influence is worldwide but is smaller than that of major international currencies, such as the US dollar. Overall, the RMB has basically become a peripheral currency in Greater China, Central Asia, Eastern Europe, and some South Asian economies. Because of the Belt and Road initiative, regionalization of the RMB has also progressed in developing economies; however, China still has far to go in fully achieving internationalization of its currency. [ABSTRACT FROM AUTHOR]

By constructing a text quality analysis system and company quality analysis system based on a prospectus, the intelligent analysis method of investment banking IPO business risk is proposed based on the machine learning method and text analysis technology. Taking the Sci-Tech Innovation Board in China as a sample, the empirical analysis results show that the text quality and the company quality disclosed in the prospectus can affect the withdrawal rate of investment banking IPO business. By carrying out a text analysis and machine learning on the text quality and company quality, the risk of investment banking IPO business can be predicted intelligently and effectively. The research results can not only improve the business efficiency of investment banking IPO, and save resource cost, but also improve the standardization and authenticity of investment banking IPO business. [ABSTRACT FROM AUTHOR]

This investigation utilized the Non-Linear Autoregressive Distributed Lag (NARDL) approach to ascertain the non-linear influence of FDI and ICT on CO2 emission in Pakistan. Moreover, the examination revealed the impact of population, trade, and import and production of ICT on Pakistan's environmental quality. The findings of the inspection specified that negative (positive) shocks in ICT use upsurge (diminution) the level of CO2 emanation. In addition, positive shocks in FDI expressively escalate CO2 emission. However, adverse shocks indicated inconsequential sway on CO2 emission. The study identified that the production of ICT instruments at the domestic level improves environmental quality than importing from other nations. Further, the population exposed direct rapport with CO2 emission; while, the coefficient of trade disclosed a negative effect on CO2 emission in Pakistan. The investigation evaluated the Environmental Kuznets Curve (EKC) hypothesis and found that economic growth has a U-shaped liaison with CO2 emission, inferring that the EKC hypothesis imperatively exists in Pakistan. The investigation suggested that the government of Pakistan should facilitate the general public to use smart electrical devices. Moreover, the Government of Pakistan should provide opportunities for ICT based international companies to install their production units in Pakistan.

This study investigates the regime‐specific relationship between the USD exchange rate and oil prices. We embed the threshold variables of structural breaks and oil financialization into the VAR model of the dollar–oil relationship. Using daily data from 1983 to 2022, we find that a marked structural change in the dollar–oil relation exists in 2001 and that deepening oil financialization drives the structural change, making the portfolio effect the dominant effect of the dollar on oil prices. After 2001, the dollar negatively affects oil prices in both the long and short run. Furthermore, our threshold regression based on the investor self‐adaptive expectation model shows that investor expectations significantly affect the dollar–oil relationship under oil financialization. A sharp increase in USD exchange rate volatility would strengthen investors' unilateral expectation of the trend of the USD exchange rate, which further enhances the portfolio effect, resulting in an even stronger negative effect of the dollar on oil prices. [ABSTRACT FROM AUTHOR]