Financialization and Stock Volatility of Low-/High-Tech Manufacturing Firms in China: The Moderating Role of M&A DOI

Shuangyan Li,

Hafez Si,

Chang Liu

et al.

Emerging Markets Finance and Trade, Journal Year: 2024, Volume and Issue: unknown, P. 1 - 21

Published: Oct. 14, 2024

In recent years, the degree of financialization manufacturing firms may be one key factors in "real to virtual" transition Chinese economy. Using data on listed low-tech sector over period 2013–2018, this paper examines relationship between and stock market volatility, how mergers acquisitions (M&A) play a moderating role relationship. The results show that there is positive while M&A activity has negative effect volatility more pronounced for high-tech than firms, firms. link their been strengthened with implementation Made China 2025 program. main conclusions are stabilized after fully accounting multicollinearity R&D capital investment. For impact non-state-owned compared state-owned (SOEs).

Language: Английский

The impact of green finance on transformation to green energy: Evidence from industrial enterprises in China DOI
Di Chen, Haiqing Hu, Ning Wang

et al.

Technological Forecasting and Social Change, Journal Year: 2024, Volume and Issue: 204, P. 123411 - 123411

Published: April 23, 2024

Language: Английский

Citations

29
Does aging affect renewable energy? The role of extreme events and economic development DOI

Bo Sui,

Susan Sunila Sharma, Liuyang Yao

et al.

Energy Economics, Journal Year: 2024, Volume and Issue: 133, P. 107491 - 107491

Published: March 24, 2024

Language: Английский

Citations

26
CSR from different perspectives: The global ESG indexes updated DOI

Ping‐Chuan Jiang,

Gen‐Fu Feng,

Hai‐Jie Wang

et al.

Corporate Social Responsibility and Environmental Management, Journal Year: 2024, Volume and Issue: 31(5), P. 4694 - 4714

Published: April 29, 2024

Abstract The prevailing environmental, social and governance (ESG) framework is currently based on micro‐ESG indicators. Research national ESG often limited to theory building policy analysis. Based previous scholars, this paper constructs a index consisting of 39 indices updates the for 121 countries worldwide from 1990 2021 using entropy weight method, aiming provide set instrumental that capture status evolution performance. research findings are as follows: First, Gini coefficient shows gap between performance has gradually widened over time. Second, kernel density distribution suggests global rise. High‐income placing greater emphasis growth. Third, results Markov transformation matrix suggest there “club convergence” in across countries.

Language: Английский

Citations

17
War and warming: The effects of climate change on military conflicts in developing countries (1995–2020) DOI Creative Commons
Jeremy Ko, Harry F. Lee,

Chun Kai Leung

et al.

Innovation and Green Development, Journal Year: 2024, Volume and Issue: 3(4), P. 100175 - 100175

Published: Aug. 27, 2024

Numerous studies have explored the links between climate change and military conflicts. This study delves into types intensities of conflicts likely caused by in developing countries from 1995 to 2020. Through a country-year panel analysis, it isolates impact rising global greenhouse gas emissions on conflict occurrence. Findings consistently show significant positive association conflicts, especially low-intensity internationalized intrastate Additional tests confirm these results' robustness, including heterogeneity substitution key explanatory variables, sensitivity alternative analytical methods. The analysis highlights how environmental scarcity due drives small-scale within countries, while geopolitics also lead wars. recommends that developed international community support building resilience against advocates for collaborative efforts mitigate its adverse effects security.

Language: Английский

Citations

9
Governing Sustainability: Why Democracy Enhances Social ESG but Weakens Environmental and Governance Outcomes DOI

Chun Kai Leung,

Jeremy Ko

Published: Jan. 1, 2025

This study examines the relationship between democracy and national Environmental, Social, Governance (ESG) performance using a panel dataset of 95 countries from 1990 to 2018. Employing fixed-effects regression, panel-corrected standard errors (PCSEs), system generalized method moments (GMM) estimations, analysis reveals complex multidimensional impact on ESG outcomes. While democratic institutions enhance social sustainability—where one-unit increase in is associated with 0.0004-point rise scores—they simultaneously weaken environmental governance performance, scores declining by 0.0003 per unit democracy. These divergent effects reflect democracy’s capacity promote welfare accountability yet also highlight structural constraints such as policy fragmentation short-term electoral incentives that hinder comprehensive reforms. The findings further indicate these trade-offs are more pronounced developed democracies, whereas emerging democracies exhibit balanced, albeit modest, gains. By challenging assumption uniformly advances sustainability, this underscores importance institutional adaptation targeted interventions across different political contexts.

Language: Английский

Citations

1
How firm’s perception of economic policy uncertainty influences innovation quality DOI

Renai Jiang,

Zulong Su,

Shurui Hu

et al.

Economics of Innovation and New Technology, Journal Year: 2024, Volume and Issue: unknown, P. 1 - 18

Published: May 15, 2024

Comprehending the consequences of firms' perception uncertainty is crucial in context a dynamic global economy. Based on data set China A-listed firms during 2007-2019, this paper constructs indicator economic policy (PEPU) through textual analysis approach and examines its impact quality innovation outputs. Employing multi-dimension measures, we find that corporate PEPU has noteworthy negative output. Further shows scale down their R&D investment intensity gravitate towards conservative projects as rises. Additionally, firm will enhance collaborative efforts with other to mitigate risk. These strategic behaviors guarantee quantitative stability firm's output, but they also undermine quality. findings have significant implications for policy-making process emerging markets.

Language: Английский

Citations

6
Evaluation of fiscal policy with text mining under "dual carbon" target in China DOI Creative Commons

Jiaoyu Zhang

Heliyon, Journal Year: 2024, Volume and Issue: 10(13), P. e33466 - e33466

Published: June 22, 2024

The establishment of "dual carbon" goals exemplifies China's global commitment as a responsible sovereign and the methodical advancement toward these aims is illustrative vigorous capable governance in countering climate transformation. actualization targets contingent upon foundation robust fiscal policies, meticulous assessments policy documentation are instrumental reflecting foreseen efficacies measures. study employs text mining techniques to articulate evaluative benchmarks for scripts under framework engages bidirectional fixed-effects model corroborate linkage between implements carbon emissions, alongside holistic appraisal using PMC-CRITIC index model. research corroborates that instruments, such tax reliefs green transfers, significantly encourage diminution emissions. average specimens assessed 0.62, indicating level permissible yet potential further refinement. Of reviewed samples, preponderance adheres satisfactory thresholds, with an ensuing tier demonstrating exceptional policy. evaluations timeliness, nature, evaluation laudable, notwithstanding necessity ameliorations precision objectives, credibility objects, targeted applicability tools. Accordingly, trajectory impending development, there should be amplification collaborative mechanisms both horizontally among sundry tiers local vertically across disparate bureaucratic strata, adoption systemized approach elucidate resolve fundamental dissonances actualizing devising integrated schema empirically-grounded prescriptions proficiently address relevant contingencies.

Language: Английский

Citations

5
The end of capitalism as a concept: Towards a new political economy for understanding monetary societies in the biosphere DOI Creative Commons
Tiago Cardão-Pito

Innovation and Green Development, Journal Year: 2025, Volume and Issue: 4(1), P. 100201 - 100201

Published: Jan. 22, 2025

Language: Английский

Citations

0
The Role of Poverty and Gender in Shaping Households’ Energy Consumption Patterns in Selected European Countries DOI Creative Commons
Florian Marcel Nuţă, Alina Mărcuţă, Levente Dimén

et al.

Energies, Journal Year: 2025, Volume and Issue: 18(5), P. 1266 - 1266

Published: March 5, 2025

In the context of Sustainable Development Goals, declining poverty (Goal 1), achieving gender equality 5), and ensuring access to clean affordable energy (SDG7) are still behind track, gaps not yet ready be rapidly fulfilled. As part Goal 7, consumption-related targets lack potential targeted. Considering these elements, this study aims determine impact on consumption households in several European countries. Using data from 2010 2022 moments’ quantile regression method combined with a pooled OLS based Driskoll-Kraay estimators, we found statistically significant results regarding household consumption. These findings’ significance will direct policy design towards those meaningful tools that increase efficiency, address poverty, ensure just transition, leaving no one behind. Based main findings, policymakers can understand mix policies is significantly more efficient. such circumstances, social economic inequalities successfully development issues without including key environmental priorities, as emissions mitigation patterns.

Language: Английский

Citations

0
Government Environmental Expenditure, Budget Management, and Regional Carbon Emissions: Provincial Panel Data from China DOI Open Access
Ziru Tang,

Zenglian Zhang,

Wenyueyang Deng

et al.

Sustainability, Journal Year: 2024, Volume and Issue: 16(15), P. 6707 - 6707

Published: Aug. 5, 2024

To explore the impact of government fiscal intervention on regional carbon emissions, this paper employs a two-way fixed-effects model to analyze data from 30 provinces in China, spanning period 2008 2017. This study investigates effects local environmental expenditure and budget per capita volume, intensity, performance emissions. The results show that is beneficial reducing emissions improving emission performance. Second, smaller deviation between final accounts, more conducive it Third, we found has strongest inhibitory effect eastern region, followed by central weakest western region. Finally, financial transparency positively moderates management is, when high, amplification weakened.

Language: Английский

Citations

4