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This study explores the relationship between corporate environmental, social, and governance (ESG) disagreements and corporate debt maturity. By examining panel samples from Chinese non-financial listed companies covering 2007 to 2020, we find that ESG disagreements negatively influence corporate debt maturity. Even after conducting a series of robustness tests and addressing endogeneity concerns, the adverse effects of ESG disagreements persisted. A heterogeneity analysis shows that this negative impact is more significant for non-state-owned enterprises, small enterprises, enterprises with high capital intensity, enterprises with low analyst attention, and enterprises in high-tech industries. Through a mechanism analysis, we discovered that ESG disagreements can lead to information asymmetry and heightened default risk, subsequently affecting the maturity of corporate debt. Further analysis confirms that the negative impact of ESG on the debt structure inhibits long-term investment and exacerbates the mismatch between investment and financing terms. [ABSTRACT FROM AUTHOR]

Previous literature indicates that digitalization offers enterprises competitive advantages. However, However, its potential impact on risk management remains uncertain. Thus, this study explores the causality between digital transformation and systematic risk of Chinese public companies during 2007–2020. We developed a digital‐related keywords dictionary using textual analysis to identify investments in digital assets which serve as a measure of corporate digitalization. Our findings suggest a negative correlation between digital transformation and enterprise systematic risk. This relationship is further supported by robustness tests, adjustments for endogeneity, and random forest predictions. The risk‐reducing effect of digitalization is more pronounced in non‐state‐owned, small, high‐asset‐density, and low‐investor‐attention enterprises. Additionally, we explore potential mechanisms: the financial leverage channel, operating leverage channel, and investor loyalty channel. Empirical observations indicate that enterprise digitalization: (1) lowers financing costs, curbing an inclination towards excessive debt; (2) enhances operational cost management and stimulates sales growth; and (3) boosts long‐term investor holdings, decreases stock price synchronization, and mitigates crash risks. This study offers new insights into assessing the sustainability of digitalization and mitigating systematic risks of enterprises. [ABSTRACT FROM AUTHOR]

Electric power resources is directly related to the national development and social people’s livelihood of the energy industry, is to support the future economic transformation and improve the residents living standards of rigid demand, however, the power industry is the highest carbon dioxide emissions in China, the power industry accounts for the energy industry of carbon dioxide emissions more than 40%. Under the background of the increasing demand for power resources in the current social development, the carbon dioxide emissions of the power industry are directly related to whether China can achieve the goal of reaching the national carbon emission peak by 2030. The article will summarize the driving factors of carbon emission reduction in the power industry through scenario analysis, combining the social electricity demand, power structure adjustment and the coal consumption of power generation standards, and improve the new energy generation technologies such as offshore wind power and hydropower to achieve the carbon emission of the power industry to reach the carbon peak standard. The article mainly achieves carbon emission reduction in the power industry through offshore wind power and distributed photovoltaic technologies, optimizes the power supply structure, and achieves the carbon peak target by 2030.