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Green bonds are relatively new in the financial market compared to other financial securities but are useful in financing environmentally friendly projects. Just like other financial securities, green bonds are affected by various factors, such as economic policy uncertainty. Our aim of this paper was to conduct a systematic literature review of the impact of economic policy uncertainty on green bonds. We sought to do a thorough analysis of the existing literature on the assessment of the impact of economic policy uncertainty on green bonds and the techniques used in assessing the impact. Our findings showed that economic policy uncertainty had a strong impact on the green bond, with its intensity varying by location. This impact tended to be more pronounced in periods of heightened uncertainty. Also, our findings highlighted that the assessment of the impact of economic policy uncertainty on green bonds gained popularity in 2019, with China emerging as a prominent contributor. However, other countries, such as Finland, even though they had few published papers, their citations signified the production of quality papers in this field. Additionally, we found that the application of the quantile analysis method was utilized by many recent studies, which signified its importance in this field. Our findings highlighted the importance of considering appropriate techniques in assessing the impact of economic policy uncertainty on green bonds while taking into account the paper quality. [ABSTRACT FROM AUTHOR]

Compared with financial information, whether corporate social responsibility disclosure has impacts on debt financing cost has obviously become a heated topic in the academic. This paper selects A-share listed companies in Shanghai and Shenzhen stock markets of China from 2013 to 2017 as sample to study the impact of corporate social responsibility disclosure on debt financing cost, including bond financing cost and bank loan cost. In addition, this paper divides the sample into voluntary corporate social responsibility disclosure group and mandatory corporate social responsibility disclosure group and studies whether the effects of voluntary corporate social responsibility disclosure and mandatory corporate social responsibility disclosure on bond financing cost and bank loan cost are different. The empirical results are presented as follows: Firstly, enterprise disclosing high-quality corporate social responsibility report is more conducive to reducing the debt financing cost. Specifically, corporate social responsibility disclosure significantly lowers both the bond financing cost and bank loan cost. Moreover, the reduction impact of corporate social responsibility disclosure on bond financing cost is greater than that of bank loan cost. Secondly, enterprises voluntarily disclosing corporate social responsibility reports are more conducive to reducing the debt financing cost than that of enterprises mandatorily disclosing corporate social responsibility reports. Thirdly, non-state-owned enterprises are more conducive to reducing debt financing cost than that of state-owned enterprise. The enterprises with more market competition are more conducive to reducing the debt financing cost than the oligopolistic enterprises. Finally, this paper concludes and gives policy implications. This paper amplifies the literature regarding the economic consequences of corporate social responsibility disclosure and improves the understanding of the impact of corporate social responsibility disclosure on debt financing cost. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explore the impact of corporate financialization (CF) on green innovation (GI) and further disclose the moderating role of CEO's individual characteristics in such relationship from the perspective of corporate governance. Design/methodology/approach: This paper uses empirical research methods to study the impact of CF on GI based on the evidence from China capital market. Findings: The findings indicate that: CF has a significant inhibiting effect on GI; female CEOs weaken the inhibiting effect of CF on GI compared to male CEOs; and CEO's financial background positively moderates the inhibiting effect of CF on GI. Originality/value: This paper, first, supplements the research literature on the economic consequences of CF and influencing factors of GI in non-financial firms. Then, it opens up the internal impact mechanism of CF on GI, which is moderated by the individual characteristics of corporate CEOs. Finally, it provides important reference for how to suppress CF of non-financial firms, cultivate CEOs that meet the needs of corporate development and promote GI development of enterprises through empirical evidence from China. [ABSTRACT FROM AUTHOR]

As the most direct way to guide and support the transformation and upgrading of grain enterprises, government subsidies have an important orientation for the transformation and development of Chinese grain enterprises and the improvement of new quality productivity. Based on the data of 136 grain listed companies and NEEQ listed companies from 2015 to 2022, this paper empirically tests the impact of government subsidies on the new productivity of grain enterprises and its transmission mechanism. The research results show that government subsidies have significantly improved the new productivity of grain enterprises. The analysis of the mechanism of action finds that government subsidies have promoted the improvement of new productivity of enterprises by optimizing the structure of human capital and improving the absorptive capacity of enterprises. Further research shows that the higher the degree of product market competition, the lower the tax burden of enterprises, and the government subsidy exceeds the threshold value of 8.9685, the greater the effect of government subsidy on the improvement of new quality productivity of enterprises. The economic consequence test shows that government subsidies can promote the new productivity of grain enterprises and effectively improve the total factor productivity of enterprises. The research in this paper provides relevant enlightenment for the Chinese government to strengthen project planning, strengthen resource coordination, and implement scientific and accurate policies in the new round of fiscal and taxation system reform. [ABSTRACT FROM AUTHOR]

Green bonds, a new green financial instrument, encourage enterprises to achieve high-quality development through green technology innovation. However, a lack of research is currently being conducted into the effect of green bond issuance in China. Can green bonds effectively empower enterprises to green innovation? What is the underlying mechanism? In the context of carbon-neutral strategies, it is significant to answer these questions scientifically. This paper uses a quasi-natural experiment of the launch of the green bond market in China in 2016 to conduct empirical studies based on the panel data of 1 558 non-financial Chinese-listed enterprises from 2015 to 2020 with the multi-period difference-in-difference model. The results show that ① issuing green bonds can significantly empower enterprises' green technology innovation. The empowering effect is mainly for green utility patents rather than green invention patents. This result remains after dynamic heterogeneity analysis, placebo test, and other tests. In addition, the effect has a lag. ② Heterogeneity tests show that this empowerment effect varies across enterprises with different property rights, industries, and regions. ③ In terms of the mechanism of action, green bonds can enhance enterprises' ability to innovate green technology by increasing the proportion of long-term loans and improving their debt structure. This paper broadens the relevant literature on the economic consequences of green bonds and the influencing factors of enterprises' green technology innovation and provides policy suggestions for further improving the analysis of green bonds. [ABSTRACT FROM AUTHOR]

Purpose: Common institutional ownership is a phenomenon that has extended throughout the capital markets in recent years and has a significant impact on business strategy decisions. The study intends to investigate the effect of common institutional ownership on corporate over-financialization and potential functioning mechanisms. Design/methodology/approach: Using panel data from Chinese-listed companies over the period of 2003–2021, the authors conduct regression models which controlled year-, industry- and regional fixed effects to explore the impact of common institutional ownership on corporate over-financialization. Findings: This study concludes that corporate over-financialization may be prevented via common institutional ownership. The mechanism test suggests that common institutional ownership inhibits corporate over-financialization by improving internal control quality and enhancing financial flexibility. Besides, heterogeneity analysis shows that the inhibiting effect of common institutional ownership on corporate over-financialization is more pronounced in stability-oriented institutional investors and high financing constraints firms. Originality/value: This paper makes a valuable contribution to the current studies on effective strategies to prevent enterprises from becoming overly financialized by recognizing common institutional ownership. Furthermore, this paper adds to the research on common institutional ownership's economic consequences. Finally, this study provides management implications for how to optimize corporate governance structures, curb the financialization of entities in practice and promote the development of the real economy. [ABSTRACT FROM AUTHOR]

Marine economy is a valuable pillar for the development of coastal areas. It is of profound significance to explore the influence of marine economy development on economic resilience of coastal areas. This paper constructs an economic resilience assessment framework based on resistance, adaptability, and evolutionary power, adopts the entropy method to calculate the economic resilience development level in China's coastal areas from 2006 to 2019, and examines in detail the driving factors affecting the economic resilience from the indicator level. Furthermore, panel regression models are used to explore the influence of marine economic development on the economic resilience of China's coastal areas and its mechanism of action. The results show that: (1) China's coastal areas have an overall trend of rising economic resilience. The spatiotemporal differentiation characteristics of different economic resilience factors are significant. (2) Factors such as regional economic scale, innovation input, industrial transformation, resident income, consumption scale, degree of marketization, and financial scale are key factors to enhance the economic system resilience of coastal areas. (3) There is a significant positive impact of the marine economy on the economic resilience of coastal areas, and this promotion effect is regulated and constrained by the level of diversification of marine industries and the level of concentration of marine industries. (4) Heterogeneity analysis shows that there are significant individual differences in the impact of Marine economy on economic resilience, and its marginal effect first increases and then decreases. The corresponding policy implications are further analyzed based on the research results. [ABSTRACT FROM AUTHOR]

The virtual water flow behind product trade provides researchers with ideas to alleviate water problems in China's coastal areas, with accompanying resource and economic implications. This paper adopts a multi-region input–output model to calculate virtual water flows in coastal areas and analyses resource benefits and economic benefits, by combining the water stress index and shadow price, to measure gains and losses of virtual water flow. This study shows that (1) China's coastal areas depends on external water supplies; (2) virtual water flows between coastal and inland areas generated 38.26 billion m3 of net scarce water savings and CNY 31,751 billion of net economic benefits, indicating that coastal areas benefited from virtual water flows from both resource and economic perspectives; (3) virtual water flows among coastal provinces and cities caused 11.10 billion m3 of net scarce water losses, but generated CNY 9784 billion of net economic gains, indicating that a further intensification of water stress in coastal areas, but such a virtual water flow pattern was beneficial from an economic perspective. This paper reveals the resource and economic impacts of virtual water flow at the national scale and among coastal provinces and cities and further proposes suggestions for promoting the beneficial flow of virtual water in coastal areas. [ABSTRACT FROM AUTHOR]

An increasing number of countries have launched their central bank digital currencies (CBDC) in recent years, but the economic impacts of CBDC adoption are underexplored. To empirically assess how CBDC adoption influences regional economic integration, this paper investigates the Greater Bay Area, where China carried out one of its first digital renminbi pilot programs. The Greater Bay Area provides a good example because the growing acceptance of digital renminbi in the area can potentially mitigate transaction costs and risks due to the exchange rate volatility of the Chinese renminbi, Hong Kong dollar, and Macao pataca. CBDC adoption can lead to greater real and financial integrations by facilitating cross-border trade in goods and services. This paper evaluates deviations from uncovered interest rate parity, purchasing power parity, and real interest rate parity across Guangdong, Hong Kong, and Macao based on monthly interest rate and price data from January 2016 to December 2022. The time series have mean values near zero, which validate the parity conditions and indicate high degrees of financial, real, and economic integrations. The Markov regime-switching regression model identifies three regimes: (1) pre-Covid, (2) post-Covid, and (3) post-CBDC. The Covid-19 outbreak brought lower integration and stability, but the launch of the CBDC restored some of the pre-Covid integration and stability. Regimes 1 and 2 are persistent, and transitions from Regime 3 back to Regime 1 are probable. Hence, this study finds evidence that CBDC adoption improves regional economic integration in the short and long run. [ABSTRACT FROM AUTHOR]

This paper empirically examines the efficacy of corporate digital transformation on a firm's environmental, social, and governance (ESG) decoupling. Adopting the text analysis method and using a sample of Chinese A-share listed firms from 2010 to 2019, this paper finds that digital transformation can significantly alleviate ESG decoupling, and this relationship persists after robustness tests. Mechanism analysis reveals that digital transformation reduces ESG decoupling by improving information processing ability and relieving information asymmetry. The relationship between corporate digital transformation and ESG decoupling is stronger among companies in eastern China and firms that do not follow GRI guidance. The economic consequence analysis suggests that corporate digital transformation promotes firms' high-quality development by reducing ESG decoupling. This study helps reveal corporate digital transformation's empowering role and governance role in ESG decoupling and contributes to the growing literature on ESG decoupling and corporate digital transformation. [ABSTRACT FROM AUTHOR]

China's social safety net is still underdeveloped, hence family support in the form of intergenerational transfers often serves as a substitute for the public transfer system. Using data from the China Health and Retirement Longitudinal Study, this paper finds that both upstream inter‐vivos transfers (from children to parents) and downstream inter‐vivos transfers (from parents to children) are prevalent in urban China. Moreover, the relative income status of the parent and children has an impact on inter‐vivos transfers. To investigate what economic factors generate the observed patterns of inter‐vivos transfers, this paper adopts a general equilibrium life‐cycle model in which overlapping generations are altruistically linked and calibrates the model to match data from urban China. Counterfactual experiments of removing one source of economic risk or modifying the social security replacement rate from the baseline model at a time reveal that intergenerational transfers mainly serve as informal insurance against the income risk of the children. [ABSTRACT FROM AUTHOR]

Purpose: This research endeavors to assess the influence of financial shared service centers (FSSCs) on the quality of accounting information within China's A-share listed companies. Using a multi-period difference-in-differences (DID) model, the study aims to empirically examine the correlation between the adoption of FSSCs and the quality of accounting information. Design/methodology/approach: The study uses a robust methodology to evaluate the relationship between FSSCs and accounting information quality (AIQ). Leveraging the established FSSCs within China's A-share listed companies as the treatment group, this research adopts a multi-period DID model. This approach enables a rigorous empirical examination of the influence exerted by FSSCs on the overall quality of accounting information. Findings: The present study delves into the impact of FSSCs on AIQ and conducts empirical analysis using data from Chinese A-share listed companies between 2004 and 2021. The findings substantiate that: FSSCs significantly bolster the quality of accounting information, a conclusion retained even after robustness tests. Specifically, FSSCs exhibit a positive correlation with the comparability, timeliness and disclosure quality of accounting information while demonstrating no significant influence on relevance, robustness and reliability factors. Research limitations/implications: First, the analysis primarily rests upon data from Chinese A-share listed companies between 2004 and 2021, potentially constraining the generalizability of findings across diverse contexts. Second, despite controlling for various factors, unobserved variables or external factors not encompassed in the model might influence the relationship between FSSCs and AIQ. Additionally, the study's reliance solely on quantitative data confines exploration into qualitative aspects that might offer a more comprehensive understanding of FSSCs' impact on AIQ. Practical implications: This paper establishes a nuanced connection between FSSC operations and AIQ, furnishing direct empirical evidence for their economic implications and propounding a novel avenue for augmenting AIQ. And, it furnishes guidance for forthcoming FSSC development, accentuating the necessity of harnessing information technology to enhance the relevance, reliability and robustness of accounting information. Originality/value: Majority of prior empirical studies assessing AIQ have focused on singular indicators, lacking a comprehensive depiction of its overall level. To address this gap, this paper pioneers the construction of a comprehensive index for AIQ, providing a holistic representation of its level. Furthermore, this study stands as the inaugural investigation into the relationship between China's A-share listed firms' FSSCs and the quality of accounting information. [ABSTRACT FROM AUTHOR]

This paper explores the concept of islands in international law and its implications for the South China Sea dispute. Islands are important for various reasons, such as territorial sovereignty, maritime rights, and natural resources. However, the legal binding definition of artificial islands has not been enacted by any international document until now. This paper traces the historical development of the concept of islands, from the Hague Conference in 1930 to the United Nations Convention of the Law of the Sea (UNCLOS) in 1982. It also analyses the challenges and opportunities of artificial islands, which are man-made structures that can serve different purposes but can also create various legal and environmental problems. Artificial islands are especially relevant for the South China sea dispute, which involves multiple costal states, while China has significant geopolitical and economic implications. This paper argues that the South China Sea dispute can be resolved through cooperation and dialogue, based on international law framework. Taking into account the provisions of UNCLOS, South China Sea dispute, state practise, and legal scholarship, this article aims to unpack the complexities surrounding artificial island and implications of artificial islands on the international relations. [ABSTRACT FROM AUTHOR]

Purpose: As the cost of completing a transaction, the green merger and acquisition (M&A) premium paid on mergers can influence whether the acquisition creates value or not. However, studies linking M&A premiums to firm value have had mixed results, even fewer studies have examined the effect of green M&A premiums on bidders' firm value. The purpose of this paper is to investigate whether and how green M&A premiums affect firm value in the context of China's heavy polluters. Design/methodology/approach: Using 323 deals between 2008 and 2019 among China's heavy polluters, this paper estimates with correlation analysis and multiple regression analysis. Findings: Green M&A premiums are negatively associated with firm value. The results are more significant when firms adopt symbolic rather than substantive corporate social responsibility (CSR) strategies. Robustness and endogeneity tests corroborate the findings. The negative relation is stronger when acquiring firms have low governmental subsidy and environmental regulation, when firms have overconfident management, when firms are state-owned and when green M&A occurs locally or among provinces in the same region. This study also analyzes agency cost as an intermediary in the relationship between green M&A premium and firm value, which lends support to the agency-view hypothesis. Originality/value: This study provides systemic evidence that green M&A premiums damage firm value through agency cost channel and the choice of CSR strategies from the perspective of acquirers. These findings enrich the literature on both the economic consequences of green M&A premiums and the determinants of firm value and provide a plausible explanation for mixed findings on the relationship between green M&A premiums and firm value. [ABSTRACT FROM AUTHOR]

As a product of combining digital technology and traditional finance, digital inclusive finance plays a vital role in economic growth. This paper deeply analyzes the impact of digital inclusive finance on economic growth and the specific transmission path. This research selects the municipal panel data of Beijing-Tianjin-Hebei from 2011 to 2020 and empirically studies the impact of digital inclusive finance on economic growth. From the perspectives of industrial structure transformation speed, industrial structure upgrading, and industrial structure rationalization, this study analyzes the role of industrial structure in the impact of digital inclusive finance on economic growth and tests the heterogeneity of the impact of digital inclusive finance on economic growth. The results show that digital inclusive finance has a significant role in promoting economic growth. The depth of use of digital inclusive finance has the most significant impact, followed by the breadth of coverage, and the degree of digitization is the smallest. The industrial structure transformation speed and the industrial structure rationalization play a significant intermediary role in the economic growth effect of digital inclusive finance, and the industrial structure upgrading has no significant impact on the economic growth effect of digital inclusive finance; the promotion effect of digital inclusive finance on economic growth is bigger in the economically developed group, the higher digital inclusive finance group and the technologically developed group, and the promotion effect is smaller in the economically underdeveloped group, the lower digital inclusive finance group and the technologically underdeveloped group. The results provide a strong reference for policy formulation to promote the development of digital inclusive finance and economic growth. [ABSTRACT FROM AUTHOR]

Customer geographical proximity is a factor influencing supplier firms' trade-offs when granting customers trade credits. However, the extant literature offers scant empirical evidence on the effect of customer location on supplier firm's trade credit. This paper investigates the impact of major customers' geographical proximity on a supplier firm's trade credit. Using a sample of 5,587 observations of publicly listed Chinese firms between 2007 and 2017, we document a positive relationship between major customers' geographical distance and the supplier firm's trade credit. Moreover, the main results remain robust when changing samples and considering endogeneity problems. This paper also tests two potential channels and identifies the exploring market channel that exists in our sample. Furthermore, the main relation is more pronounced in supplier firms with low financial risk, operating in areas of high marketization, high product development, strong legal environments, and low economic policy uncertainty. This paper extends the existing literature on the economic consequences of customer characteristics on supplier firms to include customer geographic proximity. In addition, this paper sheds light on supply chain risk management. [ABSTRACT FROM AUTHOR]

Carbon emission intensity is an important index reflecting an entity's low-carbon competitiveness. This paper presents an extended logarithmic mean divisia index (LMDI) model to dissect carbon intensity within China's civil aviation from 1998 to 2019, revealing a significant reduction in CO2 emissions per air transport revenue. It attributes this decrease to technological advancements, optimized fleet structures, and improved operational efficiencies, highlighting the impact of larger, more efficient aircraft and enhanced load factors. The study also explores economic factors influencing carbon efficiency, suggesting a comprehensive approach encompassing technological innovation and strategic operational improvements for sustainable aviation development. [ABSTRACT FROM AUTHOR]

Economic policy uncertainty has prominent effects on investment and output. Using unique transaction-level data in China, this paper explores the impact of economic policy uncertainty on land transaction premiums in China. On average, a 1% increase in the policy uncertainty level reduces land transaction premiums by 3.907 percentage points. The impact of policy uncertainty is more profound for firms with tighter financial constraints and land located in cities with lower rent-to-price ratios. The influence of policy uncertainty becomes weaker after the anti-corruption campaign in China, especially in provinces scrutinised by the central inspection teams, implying that improvements in the political environment alleviates the impact of policy uncertainty. [ABSTRACT FROM AUTHOR]

The examination of housing shortages in China presents a fascinating subject that is rarely directly addressed. This topic not only captures our interest due to the irony in a communist country but also in light of the profound transformation of Chinese society, evolving from an agrarian civilization to a modern industrialized state. The objective of this essay is to establish a comprehensive framework that encompasses economic, social, and architectural narratives as an integrated whole. This essay delves into the historical trajectory of housing shortages in modern China, tracing the evolution of this issue within Chinese society since the founding of the communist regime in 1949. Given China's unique industrial and residential policy framework, housing provision is intrinsically linked to state-owned factories and residential certification, commonly referred to as hukou. As the political and economic foundations have shifted over time, so too has the root cause of housing shortages. In addition to general historical and theoretical research, we have undertaken an in-depth examination of Lanxi City, one of the industrial clusters established in China. The case study of Lanxi City involves a series of visits and interviews conducted within local factories and communities. Our analysis identifies two distinct phases in this evolution: the "fundamentalist communist era" and the transitional period toward a market economy. Each of these eras can be further subdivided into four distinct phases, providing a more nuanced perspective. Our findings reveal that various housing distribution mechanisms have contributed to the issue of housing shortages. During the first era, housing shortages were primarily a result of hukou restrictions, industrial disparities, sluggish construction processes, and corporate profit considerations. In the latter phase, spanning the 1980s and 1990s, housing shortages were exacerbated by escalating costs and a slow rate of housing unit replenishment. As the new millennium unfolded, real estate bubbles compounded the housing crisis, with older neighborhoods ill-suited for modern living. Our interviews and visits complemented our literature research, offering valuable insights into the systemic exploitation of specific groups in pursuit of broader goals, hence the title. This paper underscores the housing shortage in China as a consequence of economic disparities between urban and rural regions, as well as between the prosperous East coast and the underdeveloped West hinterland. [ABSTRACT FROM AUTHOR]

The survival of zombie firms severely crowds out healthy corporate investment and employment growth, eventually undermining economic growth potential. Hence, how to properly address the problem of corporate zombification is an essential part of achieving high‐quality economic development in China. In recent years, the phenomenon of common institutional ownership has become increasingly widespread in the capital markets and has a significant impact on the strategic decisions of companies. There are currently two views on the corporate governance role of common institutional ownership: the synergistic governance effect and the collusive fraud effect. Using data from Chinese‐listed firms from 2009 to 2021, this paper finds that common institutional ownership can significantly inhibit the formation of zombie firms. The higher the degree of their linkage and the greater the shareholding, the more pronounced the synergistic effect. The findings remained valid after considering the endogeneity issue and conducting robustness tests. Furthermore, the mechanism test suggests that common institutional ownership inhibits the formation of zombie firms by improving internal control quality and reducing agency costs. This paper contributes to the study of how to inhibit the formation of zombie firms by identifying common institutional ownership from the perspective of external governance mechanisms. In addition, this paper enriches the research on the economic consequences of common institutional ownership. Finally, various practical implications for policymakers may be realised, which may help curb the trend of corporate zombification through equity‐based instruments. [ABSTRACT FROM AUTHOR]

This paper examines the effect of an industrial policy in China named the VAT export tax on product upgrading. In particular, we use Chinese transaction data during 2003–2010 to isolate the causal impact of the exogenous variation of VAT refund and within the city‐product quality change in HS6 exported products. Our identification strategy entails the utilization of duality of the Chinese trade system to isolate the impact of the rebate by comparing a group of trade flows exempt from the refund and another that remains eligible. Our results suggest an increase in product upgrading in response to an increase in VAT refund. In this study, we also introduce the credit constraint to understand the change in quality. The industries that are confronted with tighter credit constraints impel firms to settle for low‐quality products. The model demonstrates that VAT refund provided a counterbalance force to credit constraints, thereby prompting firms to adjust quality. By increasing the refund granted to ordinary traders, firms leverage this excess cash flow to invest (in a fixed asset or innovative project) and improve the quality of products. This effect is reinforced for products exported to developed countries, heterogeneous products, or from larger industries. The Chinese policymakers formally introduced environmental objectives under the 10th and 11th FYP, respectively. The Party leaders put substantial weight on promoting products embedded with high‐added value or technological content. At the same time, they underscored the willingness to downscale the export share of energy‐intensive or polluting industries. We evaluate whether environmental and economic concern impacts product upgrading. According to the results of this study, the VAT refund is effective only for products produced in "cleaner" industries, for products necessitating technical skills, a range of know‐how in manufacturing, and high‐level technology or engaging in research and development activities. Our paper introduces a new and unexplored variable in the trade literature. We use the stock of non‐trade barriers to explicate the change in product quality. In the import market, Chinese exporters comply with the change in regulation by making upward adjustments in the quality. [ABSTRACT FROM AUTHOR]

Recycling carbon tax revenue is a significant part of the design of a nation's carbon tax system. The impact of different recycling principles on the socio-economy and carbon emission reduction varies greatly. Under the background of China's goal of reaching peak carbon emissions, this paper designed three carbon tax recycling principles based on the goal of Nationally Determined Contributions (NDCs), including recycling principles based on output ratio, export ratio, and carbon intensity. A recursively dynamic CGE model was developed in this study to evaluate the economic effects of these three carbon tax recycling principles based on tax neutrality under China's goal of reaching peak carbon emissions. Carbon tax recycling measures could mitigate the economic losses caused by carbon tax, and the results could be greatly affected according to different recycling principles. The results showed that: 1 The recycling principle based on output ratio could reduce economic losses and improve households' social welfare. 2 China's carbon intensity in 2030 could be reduced by more than 65% compared with that in 2005, and the proportion of non-fossil energy in primary energy consumption could reach 25% using the recycling principle based on carbon intensity, but the economic loss mitigation effect of the recycling measures based on this principle was small. 3 Adopting the recycling principle based on export ratio would narrow the competitive gap between China and foreign countries, and the exports of high-carbon-intensity goods would not increase under this principle. 4 According to principles based on output ratio and export ratio, the NDC goal of non-fossil energy accounting for about 25% of primary energy consumption by 2030 could not be achieved, and only the NDC goal of reducing carbon emissions per unit of GDP by more than 65% compared with that of 2005 could be achieved. In brief, as an essential policy tool to achieve China's goal of reaching peak carbon emissions, the carbon tax should be implemented as soon as possible. At the same time, according to China's national conditions, a targeted choice of carbon tax recycling principle is needed. The role of the carbon tax in the process of achieving the goal of Nationally Determined Contributions should be fully utilized. [ABSTRACT FROM AUTHOR]

The literature has confirmed that when managers increase profits through earnings management, the readability of annual reports may be reduced Lo (2017), Ye (2018). Whether this conclusion is suitable for Chinese corporate social responsibility (CSR) reports, however, is still unclear. Based on the panel data of 5083 Chinese non-financial listed companies from 2010 to 2019, this paper adopts multiple linear regression to investigate the impact of earnings management on the readability of Chinese CSR reports. The results show that: (1) There is a significant negative correlation between earnings management and the readability of Chinese CSR reports, with the readability of Chinese annual reports as a mediating variable. (2) The negative effect is more significant when companies are not punished for violations, when the internal control index is low, when companies lack ISO14001 certification and when companies do not have independent third-party authentication for Chinese CSR reports. (3) When earnings management just exceeds zero, the readability of Chinese CSR reports decreases. (4) The economic consequences of reducing the readability of Chinese CSR reports are that financing costs are increased and environmental performance is decreased. To improve the quality of information disclosure of listed companies, the recommendations are as follows: First, the government should issue CSR reporting standards to reduce the manipulation of Chinese CSR reports. Second, Chinese CSR reports disclosed by listed companies must be audited by independent third parties to enhance the credibility of the information. Third, the company needs to strengthen its external and internal supervision to reduce the manipulation space for the readability of Chinese CSR reports. This study extends the negative relationship between earnings management and the readability from annual reports to Chinese CSR reports. To prevent investors from detecting earnings management, the readability of Chinese CSR reports may be reduced. At the same time, the study has definitely added value to the existing literature in the domain of CSR. [ABSTRACT FROM AUTHOR]

At present, with the increasing digital competition among enterprises, it is of great importance for enterprises to promote digital transformation and achieve sustainable development. Taking China's A-share listed companies from 2007 to 2021 as samples, this paper performs empirical tests in order to explore the impact of enterprise digital transformation on the comparability of accounting information and its mechanism. The results show that digital transformation has significantly enhanced accounting information comparability, which is still significant after a series of robustness tests. The mechanism test shows that the improvement of the comparability of accounting information by the digital transformation is mainly achieved by alleviating earnings management and agency problem. Further research shows that when the degree of market competition or transparency is high, the role of enterprise digital transformation in enhancing the comparability is more significant. This paper enriches the literature on the economic consequences of digital transformation and the factors affecting the comparability of accounting information. At the same time, the conclusions of this paper confirm the governance effect of enterprise digital transformation, provide evidential support for investors to improve decision-making efficiency, and urge enterprises to accelerate digital transformation. [ABSTRACT FROM AUTHOR]

Environmental protection is receiving more and more attention in China. Chinese government and society have implemented well-designed environmental regulations (ERs). While ERs have economic and environmental implications, whether they favor or stifle technological innovation is uncertain and shows paradoxical tension between different viewpoints. To reconcile it, this paper distinguishes three types of environmental regulations: Command-and-control environmental regulation (CER), market-based environmental regulation (MER), and Public-participation environmental regulation (PER). With data from Chinese A-share listed companies from 2008 to 2017, this study finds that CER and PER favor enterprise innovation, while MER does the opposite. Further analysis suggests that government subsidies positively moderate the influence of MER and PER on enterprise innovation. However, executive political experience negatively moderates the impact of three types of ERs on enterprise innovation. The heterogeneity analysis suggests that ERs' influence varies among enterprises with different life cycles and ownership, and in different regions and industries. [ABSTRACT FROM AUTHOR]

As a new concept for systematically evaluating ecosystem services, Gross Ecosystem Product (GEP) provides an effective means to comprehensively reveal the overall status of the ecosystem, the impact of economic activities on the ecological environment, and the effectiveness of ecological protection efforts. GEP accounting has been conducted in various regions; however, GEP's application in natural reserves still requires further exploration. Taking the Qinling Mountains as the research area, this paper aims to assess the relationship between GEP and economic development on the basis of the GEP accounting system. The results indicated that: (1) From 2010 to 2020, GEP tended to increase continuously and exhibited a distribution pattern with high value regions in the east and west, and low value regions in the north and south. (2) Over the years, the coupling coordination degree between GEP and GDP was in a consistent upward trend. In 2020, a good coupling coordination state between GEP and GDP was achieved in most districts and counties. (3) With the relative development between GEP and GDP, the social economy of most districts and counties lagged behind GEP in 2010. The number of districts and counties lagging in GEP in 2020 increased, while the number of regions with a balanced development of GEP and GDP was still relatively discouraging. (4) In general, elevation, contagion, temperature, population density, and precipitation were the main drivers of coupling coordination degree between GEP and GDP. If the relationship between economic development and ecological environmental protection can be reasonably balanced, it will further promote the sustainable development of nature reserves, and provide a scientific basis for sustainable policy-making in other similar areas. [ABSTRACT FROM AUTHOR]

The local land use carbon budget (LUCB) balance is an important factor in achieving regional carbon neutrality. As the basic unit of China's economic development and social governance, the county level is an important part of the realization of the "double carbon" goal. This paper focuses on 1069 county units within the Yangtze River Economic Belt (YREB). It utilizes data on land use, nighttime light, energy consumption, and social and economic factors to construct carbon emission models. The spatiotemporal characteristics of LUCB in these county units are analyzed using standard deviational ellipse (SDE) and spatial autocorrelation methods. Additionally, a zoning study is conducted by examining the economic contribution coefficient (ECC) of carbon emissions, the ecological support coefficient (ESC), and their coupling relationship. The results show that (1) the total land use carbon emissions (LUCE) increased significantly during the research period, and the total carbon sink was relatively stable. (2) The LUCB is spatially high in the east and low in the west, with the center of gravity moving to the southwest as a whole. (3) The LUCB shows positive spatial autocorrelation and has significant spatial agglomeration characteristics, which are mainly high–high and low–low regional agglomeration types. (4) The ECC is high in the east and low in the west, the ESC is high in the west and low in the east, and the coordination and coupling degrees of the two are low. (5) According to the ECC and ESC, the county unit is divided into a low-carbon conservation area, an economic development area, a carbon sink development area, and a comprehensive optimization area. This study is helpful in promoting the sustainable development of carbon neutrality and low carbon in the YREB. [ABSTRACT FROM AUTHOR]

The escalation in carbon dioxide concentration has precipitated global climate warming, accentuating ecological and environmental concerns. Notably, China stands as the world's largest carbon emitter, with the Taihu Lake basin emerging as a carbon-intensive region within the country. This paper undertakes a comprehensive analysis spanning 2005 to 2020, calculating the economic contribution coefficient of carbon emissions and the ecological carrying coefficient of carbon absorption in the Taihu Lake basin. The study includes a delineation of carbon balance zones and an exploration of the geographical and spatial influences of both ecosystem and economic factors. The overarching trend in carbon emissions within the Taihu Lake Basin initially exhibited rapid growth, followed by a fluctuating decline, with the pivotal year being 2012, recording the apex of emissions at 575.8293 million tons. Concurrently, total carbon absorption demonstrated a fluctuating growth trajectory, ascending from 82.3503 million tons in 2005 to 85.6488 million tons in 2020. The carbon emission intensity in the basin manifested a pattern of high concentration in the northeast and low concentration in the southwest, while the carbon absorption intensity displayed the inverse pattern. The carbon balance across the Taihu Lake Basin revealed a spatial incongruity, characterized by a suboptimal pattern in the northeast and a favorable pattern in the southwest. Zhejiang Province emerged as an ecological stronghold within the basin, acting as the primary carbon sink functional area. Urban built-up areas and forested regions emerged as principal influencers of carbon balance in the Taihu Lake basin. Urban construction land, population density, and arable land area were identified as primary contributors to carbon emissions, whereas per capita GDP, forests, grasslands, and water bodies were identified as main contributors to carbon absorption in the watershed. [ABSTRACT FROM AUTHOR]

Background: Talent is a crucial resource for economic and social development, serving as the driving force behind urban progress. As China experiences rapid growth in digital city construction, the capability of e-services continues to improve incessantly. In China, the new-generation highly educated migrants (NGHEMs) account for ~ 20–30% of the total floating populations. This study aimed to explore the settlement intention of new-generation highly educated migrations in China from the new perspective of urban e-service capabilities. Furthermore, the mechanism of the urban e-services on the settlement intention on the NGHEMs will be proved. Methods: This paper employed data of China Migrants Dynamic Survey in 2017 and Evaluation Report of Government E-service Capability Index (2017). Descriptive analyses were conducted to investigate the factors influencing the settlement intention of NGHEMs in the destination city. Based on the principle of utility maximization, LASSO regression was employed to select individual and city characteristics that determined the settlement intention of NGHEMs. The impact of urban e-services on settlement intention was analyzed by using ordinal logit model. Additionally, robustness check, endogeneity analysis, and heterogeneity analysis were performed to validate the benchmark regression results. Finally, mediation model was employed to examine whether urban e-services enhance the settlement intention of NGHEMs by improving urban livability and urban innovation. Results: The results indicate that the urban e-services promote the NGHEMs' settlement intention in the destination cities. Moreover, the results are still robust through a series of robustness tests. Furthermore, from the perspective of individual and regional heterogeneity, urban e-services significantly enhances the settlement intention of NGHEMs with male and female, married and urban household registration, and urban e-services can promote the settlement intention of NGHEMs with over 3 million inhabitants and those in the eastern regions of China. Finally, the intermediary effect test shows that urban e-services promote the settlement intention of NGHEMs through urban livability and urban innovation. Conclusion: This study highlights the important impact of urban e-services on the settlement intention of new-generation highly educated migrants. The conclusions of this study provide suggestions for the government to use when designing policies to enhance the settlement intention of the NGHEMs and to improve the development of urban e-services. [ABSTRACT FROM AUTHOR]

Under the framework of the "double carbon" strategy in China, green finance has emerged as a crucial factor in restructuring the economic landscape. This paper explores the impact of green finance on labor allocation between polluting and green industries and reveals that enterprises for which green credit is available tend to employ a greater number of workers, particularly those with higher skill levels. Mechanism analysis suggests this phenomenon can be attributed to an increase in new capital and capital-skill complementarity. Heterogeneity analysis further demonstrates that green credit plays a more pronounced role in optimizing the composition of skilled personnel in green private enterprises. The findings of this paper shed light on the relationship between capital and labor at the enterprise level and provide a foundation for formulating monetary policies that guide the low-carbon transformation of polluting enterprises, in order to reach the objective of "stabilizing enterprises and ensuring employment". [ABSTRACT FROM AUTHOR]

This paper examines housework reallocation during China's stringent pandemic lockdowns in 2020, where individuals were homebound and job-free while employment status remained unchanged. Utilizing a mixed-method approach, it analyzes 1669 surveys and 100 interviews to understand changes in domestic labor patterns and the underlying reasons. The findings indicate that men increased their participation in grocery shopping but decreased in cooking, cleaning, and laundry during the lockdown. This gender-task pattern was mirrored in multi-generational households, where younger family members often took on these tasks. The reasons articulated for these shifts predominantly converged around the 'doing gender' theory. Women, particularly those working full-time, had more time to engage in household chores. Men, while also having more available time, predominantly focused on grocery shopping, a task that gained masculine connotations during the lockdown. Factors such as perceived differences in household labor quality, difficulty delegating housework, and reduced workload led to women's increased involvement and specialization in domestic tasks. The study challenges the notion that economic factors are the primary drivers of gender-based division of housework. Instead, it suggests that ingrained gender norms continue to dictate domestic roles, as evidenced during the lockdown period devoid of usual economic and time pressures. [ABSTRACT FROM AUTHOR]

• Part of UN sustainable development goal 9 is upgrading production capabilities. • Increasing economic complexity is a key driver for sustainable economic growth. • Sequential model selection used for robust generalised method of moments estimation. • Chinese FDI evidently shows a positive impact on host countries' economic complexity. • Global policy makers should deepen their relationships with the belt and road. Upgrading the production capabilities in all countries is a target of the UN's 2030 Agenda for Sustainable Development Goal 9. Increasing economic complexity, that is, a country's ability to manufacture more sophisticated products and thus moving up the value chain, is a key driver for sustainable economic growth. This paper investigates whether Chinese Belt and Road investments have impacted the economic complexity of host countries — a topic not addressed in the literature to date, using a sequential generalised method of moments model selection approach. The research focuses on the countries whose economic complexities are below that of China. Our empirical results show significant positive effects of Chinese investments on such host countries' economic complexities. The inflows of Chinese investments have thus supported the upgrading of production capabilities in these countries. This is encouraging, especially for the Global South countries, to intensify their interactions with the Belt and Road initiative. [ABSTRACT FROM AUTHOR]

Using a global dynamic general equilibrium model with foreign direct investment (FDI) and technology capital, this paper finds that the EU–China Comprehensive Agreement on Investment (CAI) could bring modest but nonnegligible benefits to both sides. Under an illustrative scenario in which the CAI increases the degree of openness to bilateral FDI by 10%, the EU's FDI to China could rise by a factor of 3–4 and China's FDI to the EU by a factor of 3. These would generate a gain in the steady‐state gross national product (GNP) of 0.23% for China and 0.73% for the EU. The cumulative household welfare gain in the present value term is equivalent to 0.36% and 0.13% of GNP annually for China and the EU, respectively. [ABSTRACT FROM AUTHOR]

This paper extends the literature on economic consequences of corruption. We simultaneously consider corruption's impacts on output, production efficiency, and environmental performance in an eco-efficiency framework. Pollution is considered as undesirable output in the production process. We construct an eco-efficiency measure from a non-oriented data envelopment analysis model that incorporates a non-convex metafrontier, super-efficiency, and undesirable outputs into a directional distance function. By using panel data from 30 Chinese provinces from 1998 to 2016 in a spatial analysis, we find that corruption, measured by filed-cases of corruption-related crimes, has a significantly negative direct impact on eco-efficiency. The regional spillover effect is not significant for provinces in the same geographical region, but is marginally significant for provinces sharing a common border. [ABSTRACT FROM AUTHOR]

This article studies the economic impact of China and the U.S. from 2011 to 2023 through stock market linkages. A bivariate VAR model is used for nonlinear Granger causality analysis. The results show that the U.S. economy's dominance remains unshaken, impacting the world economy. Despite China's progress and significant role in the global economy, it cannot yet impact the U.S. economy. Understanding this is crucial for global economic patterns, the political state, and enriching global economic stability and development. [ABSTRACT FROM AUTHOR]

In the paper, we explore the effects of monetary policy shock on the economic growth in systemically important countries such as the US, the Euro Area and China and their impact on Ukraine. Thus, the war in Ukraine and the rise of key policy rates by central banks to curb inflation have had a significant negative impact on economic activity. There has been both a significant decrease in trade activity and a slowdown in the services sector growth, which was the main engine of global economic growth at the beginning of 2023. Based on the vector autoregression model results, we demonstrated a slight initial decline of GDP growth with following stabilization in response to the rise of key policy rates in the US. In China, this decline is much bigger and constitutes 11% after the shock. In the Euro Area, we also observe a similar pattern as in the US with an initial decline up to 2% and a further return to equilibrium. Analyzing the results of the forecast error variance decomposition, we should note that GDP fluctuations in systemically significant economies are mainly explained by their own fluctuations. The key policy rate’s contribution ranges from 1% in the US to 11% in China. At the same time, economic growth in China is less vulnerable to inflation fluctuations, in the Eurozone we observe the most sustained one among the considered economies. In addition, the study shows that the key policy rate in the United States has a positive effect on the one in Ukraine. [ABSTRACT FROM AUTHOR]

This paper uses 29 provincial units of China as research objects, constructs a system of indicators to measure economic efficiency and economic resilience, and uses spatial analysis methods and Tobit panel models to reveal the spatio-temporal pattern of provincial economic efficiency and economic resilience development in China from 1991 to 2020. Further, the coupling degree and Tobit panel models are used to reveal the coupling degree and driving factors of provincial economic efficiency and economic resilience development in China. The results are as follows. ➀ During the study period, the interannual variation of China's provincial economic efficiency showed a fluctuating upward trend, and the economic resilience index showed a very low value in 2008 and fluctuated around 0 in other years. The spatial pattern of the two changed significantly, with both the middle and high value areas experiencing an expansion followed by a reduction, and the coordinated development between the two weakened. ➁ The coupling degree of economic efficiency and resilience has remained in an antagonistic period and has tended to decline slightly. The coupling degree in the eastern region was the highest, followed by the whole country, and the lowest in the central and western regions. The spatial differences of the coupling degree in the "east-west" direction were gradually clear. ➂ The level of socio-economic development, economic openness, economy structure, informatization, government intervention and technical ability of labourers have different effects on the coupling degree of economic efficiency and resilience. The direction and results of each factor are related to the stage of regional economic development, and there are significant regional differences. [ABSTRACT FROM AUTHOR]

With the advent of the post-pandemic era, the global economic situation has tightened, and the economic benefits of container ports have also been affected. This paper attempts to build a novel berth-tugboat-quay crane joint scheduling method for container ports to reduce the economic cost of container ports. Firstly, from the perspective of the economic cost of container ports, considering random economic factors, this paper proposes a new berth-tugboat-quay crane joint dispatch optimization model, namely E-BUQC, by taking the minimum time cost of vessels in port, the cost of additional freight distance for trucks, the cost of tugboat operation, and the minimum operation cost of quay cranes as the objective function. Then, in order to obtain a relatively high-quality solution, based on chaotic mapping and quantum computing, this paper constructs a new chaotic quantum adaptive satin bower bird optimizer algorithm, namely CQASBO, formulates exclusive coding rules for the E-BUQC model, develops a feasible integer algorithm, and proposes a new joint scheduling solution method of berth-tugboat-quay crane, named E-BUQC_CQASBO. Subsequently, based on the simulation examples of two ports in northern China, the new solution method is tested. The simulation test results show that the E-BUQC model obtains an appropriate solution; The CQASBO constructed in this paper has better performance than other traditional comparison algorithms selected in this paper and can provide a better solution when solving the E-BUQC model. [ABSTRACT FROM AUTHOR]

• This paper examines the economic effects of multiple earthquakes in China using prefecture-level data and a DID approach. • Both moderate and strong earthquakes have a significant long-term negative effect on affected prefectures' GDP per capita. • Earthquakes' effects vary based on government fiscal autonomy, social capital intensity, and infrastructure development. • Household savings rate, fixed asset investment, and innovation mainly contribute to long-term negative effects. This paper examines the short-term and long-term economic impacts of relative-ly small but more frequent earthquakes in China. Using a difference-in-differences approach based on prefecture-level city panel data, combined with a unique data set on seismic events in China, we find that both moderate and strong earthquakes significantly decrease affected prefectures' GDP per capita in the long run. These effects vary depending on the level of local government fiscal autonomy, social capital intensity, and infrastructure development. We also find that three mechanisms contribute to long-term negative effects: the household savings rate, fixed asset investment, and innovation. Our results provide new insights for policymakers to address relatively small disasters, which can have a significant impact on the local economy in the long run. [ABSTRACT FROM AUTHOR]

Background: Many parturients have poor self-care ability, strong dependence on others, and lack mother-infant related nursing skills and health care knowledge. Due to their lack of pregnancy experience, many primiparas lack the relevant skills and knowledge, which can affect maternal and infant health and maternal quality of life. Purpose: The study aimed to investigate the effects of the PRECEDE-PROCEDE model on self-care ability and quality of life among primipara during puerperium. Methods: This quasi-clinical study selected eligible primaparas from those who gave birth at a Grade A hospital in Hengyang, China between April and July 2019. Eighty puerperium primiparas were divided into a control group receiving standard care and an intervention group following the PRECEDE-PROCEDE model. Comparison of self-care ability and quality of life scores was conducted between the two groups pre-intervention, at 3 weeks, and at 6 weeks postpartum. Statistical analysis using SPSS 18.0 included mean and standard deviation for measurement data, and frequency and constituent ratio for counting data. Tests such as t-test, Chi-squared test, rank-sum test, and repeated measure analysis of variance were applied. Findings: The control group's self-care ability scores were (150.8 ± 9.9), (150.9 ± 9.3), and (152.0 ± 10.2) before intervention, at 3 weeks postpartum, and at 6 weeks postpartum, respectively. For the intervention group, the corresponding scores were (151.1 ± 15.1), (157.8 ± 8.5), and (162.4 ± 7.2). Quality of life scores for the control group were (54.7 ± 8.6), (54.8 ± 7.7), and (55.1 ± 7.7) before intervention, at 3 weeks postpartum, and at 6 weeks postpartum, respectively. At the same time points, while the intervention group saw increases from (55.6 ± 7.6) to (59.2 ± 5.9) and (61.0 ± 5.3). There were statistically significant differences in the time effect and inter-group effect of the total score of self-care ability during puerperium, total score of quality of life, and the score of each dimension between the two groups (P < 0.05), and we also found an interaction effect between grouping and time factors (P < 0.05). After intervention, the incidence of common puerperium health problems except neonatal constipation and diarrhea in the intervention group was lower than that in the control group (P < 0.05). Conclusion: PRECEDE-PROCEDE model may improve self-care ability, reduce the occurrence of common health problems, and improve the quality of life of primiparas during puerperium. [ABSTRACT FROM AUTHOR]

Breakthrough innovation and incremental innovation have different impacts on economic development. For regional development, it is important to find a balance in dual innovation, which entails effective coordination of allocating innovation resources and managing risks. However, little attention has been given to the spatial relationship and differentiation mechanisms between breakthrough innovation and incremental innovation. Therefore, our research takes China's three major urban agglomerations as examples, aiming to explore the spatial–temporal pattern evolution, influencing factors, spatial relationship, and spatial organizational patterns of breakthrough innovation and incremental innovation from 2000 to 2021. The research found that the spatial distribution of urban dual innovation is affected by the law of distance decay, and the spatial distribution of incremental innovation is more polycentric than that of breakthrough innovation. In terms of the differentiation mechanism, breakthrough innovation is more affected by the innovation atmosphere, while incremental innovation is more likely to be affected by the economic foundation and built environment. Our research effectively supplements the shortcomings in the spatial relationship research of breakthrough innovation and incremental innovation and provides references for formulating innovation policies. [ABSTRACT FROM AUTHOR]

Crop variety adoption is considered as one of the main strategies for farmers to enhance productivity under stress brought by the climate change, with less environmental impacts. It holds an upstream position in the whole life cycle of agricultural clean production, compared to the field management and agricultural non-point source pollution treatment. This paper aims to (i) assess the impact of new maize variety adoption on maize yield and fertilizer input; (ii) analyze the main determinants of farmers' new maize variety choice in the context of climate change, and (iii) identify the heterogeneity of small-scale and large-scale farmers in maize variety choice and its impacts. Based on plot-level data collected from three major grain producing provinces in China, we employ a treatment effects model to correct the potential bias resulting from the farmers' self-selection and estimate the direct impacts of farmers' new maize variety adoption and the main determinants of such adoption. The empirical results indicate that the adoption of new maize varieties significantly increases maize yield by 9.4% but fertilizer use by 16.6 kg/mu (1 mu = 1/15 ha) as well, and this trade-off between economic impacts and environmental impacts is more pronounced among small-scale farmers. However, in the face of natural disasters, adopting new maize varieties results in a significant reduction in yield losses by 1.4% and a decrease in fertilizer input for natural disaster management by 2.45 kg/mu, as compared to the adoption of old varieties. What's more, our findings suggest that a higher frequency of pest and disease disasters significantly increases the probability of new maize variety adoption by farmers, while a higher frequency of climate disasters significantly decreases the probability. The estimated impacts of new maize varieties point out the need of synergistically optimized resistance and nutrient use efficiency for crop breeding, which have important policy implications for sustainable food and agriculture. Also, the significant factor analysis contributes to the proposal of feasible ways to promote the farmers' adoption behavior. [Display omitted] • Crop variety adoption is considered as one of the main strategies for farmers to address climate change issues. • Impact of new maize variety adoption on yield and fertilizer input, and the determinants of such adoption are examined. • New maize varieties increase yield but fertilizer use as well. This trade-off is more pronounced among small-scale farmers. • Different natural disaster experiences have varying impacts on the probability of adopting new maize varieties. • Crop breeding needs to optimize resistance and nutrient use efficiency synergistically. [ABSTRACT FROM AUTHOR]

This study aims to analysis the influence of economic growth (EG) and energy consumption (EC) on sulfur dioxide emissions (SE) in China. Accordingly, this study explores the link between EG, EC, and SE for 30 provinces in China over the span of 2000e2019. This study also analyzes cross-sectional dependence tests, panel unit root tests, Westerlund panel cointegration tests, Dumitrescu-Hurlin (D-H) causality tests. According to the test results, there is an inverted U-shaped association between EG and SE, and the assumption of the Environmental Kuznets Curve (EKC) is verified. The signs of EG and EC in the fixed effect (FE) and random effect (RE) methods are in line with those in the dynamic ordinary least squares (DOLS), fully modified ordinary least squares (FMOLS) and autoregressive distributed lag (ARDL) estimators. Moreover, the results verified that EC can obviously positive impact the SE. To reduce SE in China, government and policymakers can improve air quality by developing cleaner energy sources and improving energy efficiency. This requires the comprehensive use of policies, regulations, economic incentives, and public participation to promote sustainable development. [ABSTRACT FROM AUTHOR]

Objective. Intrahepatic cholestasis of pregnancy (ICP) significantly impacts the maternal and fetal safety. Research on the role of clinical pharmacists in guiding drug therapy for this condition remains limited. This study aimed to evaluate the effectiveness of graded pharmaceutical care for women with intrahepatic cholestasis of pregnancy and to provide a theoretical foundation for clinical pharmacist services. Study Design. This study comprises a pre‐and‐post analysis of women with intrahepatic cholestasis of pregnancy (ICP) treated between December 2019 and June 2023 at a tertiary hospital in Jiangsu province. Each group consisted of 102 participants. The control group received standard treatment, while the guardianship group received graded pharmacological care provided by a clinical pharmacist. The effectiveness of pharmacological monitoring by clinical pharmacists was assessed by comparing and analyzing clinical outcome indicators, quality management indicators, safety indicators, and economic factors. Results. The guardianship group exhibited a noteworthy 12.8% reduction in combined adverse pregnancy outcome and more effective management of total prenatal bile acids compared to the control group (16.05 µmol/L vs. 22.85 µmol/L, P < 0.05). The guardianship group displayed superior rationalization of therapeutic drugs and medication duration (P < 0.05). The cost‐benefit analysis revealed a favorable economic impact concerning medication costs but did not indicate economic significance regarding total inpatient costs. Conclusion. The implementation of a graded pharmaceutical care model by a clinical pharmacist holds the potential to enhance outcomes for women experiencing intrahepatic cholestasis during pregnancy, mitigate adverse pregnancy results, optimize the rational utilization of therapeutic medications, and yield positive economic results. [ABSTRACT FROM AUTHOR]

Different from the previous studies that mainly focus on the environmental and economic benefits of the total R&D, we specifically focus on the R&D activities in the energy field, namely, energy-saving R&D in this study, and explored the spatial impacts of energy-saving R&D on urban carbon emission performance and its internal transmission mechanisms for the first time. The heterogeneity analysis from the perspectives of different-types of R&D and different urban groups were also conducted. Results indicate that: Energy-saving R&D has obvious promoting effect on the improvement of urban carbon emission performance, among which the utility-type energy-saving R&D plays a more important role than the invention-type R&D. Energy-saving R&D promotes urban carbon performance mainly through the transmission mechanism of technical effects, while structural effect and urbanization effect negatively affects carbon emission performance due to the existence of energy rebound. Furthermore, there exists significant spatial spillover effects of energy-saving R&D on urban carbon emission performance, and economic factors play a more important role in this spatial effect. In addition, the impact of energy-saving R&D on carbon emission performance has obvious urban group heterogeneity. Finally, we proposed several policy suggestions based on the main conclusions of this study. [ABSTRACT FROM AUTHOR]

Climate change has a significant impact on human economic and social life, and climate issues have rapidly emerged as a global hot topic. Using data from prefecture-level cities in China from 2005 to 2020 as a sample, this study explores the relationship between climate policy uncertainty (CPU) and urban green total factor energy efficiency (GTFEE). The results show that, first, the CPU can significantly improve urban GTFEE, and results are reconfirmed after various robustness tests. Second, the CPU promotes urban GTFEE by improving public environmental concerns and optimizing the energy consumption structure. Third, the promotion role of CPU in urban GTFEE is particularly significant in resource-based cities and economically developed cities. The results of this study provide a theoretical basis and practical enlightenment for the government to formulate forward-looking climate policies and promote the transformation of green development in cities. [ABSTRACT FROM AUTHOR]

Young adults are at high risk of experiencing economic abuse—a form of intimate partner violence (IPV)—and Chinese young adults in non-marital cohabitation are especially vulnerable. To reduce economic abuse, an important question to answer is: What factors are associated with economic abuse? After controlling for constructs (e.g., demographic information and other types of IPV) that were linked to economic abuse, we investigated how financial behaviors (i.e., individuals' money management capability) were associated with power (im)balance (i.e., whether individuals shared equal influence with the romantic partner) and, in turn, economic abuse among non-marital cohabitating Chinese young adults. We also investigated whether associations among financial behaviors, power (im)balance, and economic abuse varied across young adults' gender and SES. We used a Qualtrics survey to collect data from 445 non-marital cohabitating Chinese young adults (53.3% male vs. 46.7% female; 22.7% lower socioeconomic status [SES] vs. 77.3% higher-SES). A structural equation model was conducted to test the associations of research interests. We found that money management capability (e.g., spending within budget and tracking expenses) is associated with balanced power—the individual sharing equal influence with the partner in the decision-making process—and, in turn, less experience of being economically abused. These associations were statistically equivalent across gender and SES. Collectively, our findings suggested that promoting money management capability be a timely and new avenue for reducing economic abuse among Chinese young adults in non-marital cohabitation, possibly because this population faces common and severe economic abuse but generally lacks the opportunity to learn money management. [ABSTRACT FROM AUTHOR]

Energy quota trading is critical to both energy conservation and the achievement of dual-carbon goals. However, little remains to be done on total factor productivity and economic potential for Chinese industry. The purpose of this paper is to counterfactually model and explore the effects of energy quota trading on total factor productivity and economic potential in industrial sector. We propose a command-controlled DEA model and an energy quota trading DEA model through non-parametric linear programming based on two policy strategies of energy consumption control. We then assess total factor productivity and its growth sources for 35 two-digit industrial sector in China, as well as examine economic potential and optimal path forecasts for carbon peaking. The results show that total factor productivity and economic potential for energy quota trading are higher than those for command-controlled energy policy. Energy-saving effect can be achieved for energy quota trading because the total energy input is lower. Additionally, the sources of productivity growth differ in timing. The average economic potential and total factor productivity of different industries differ due to the heterogeneity of the production conditions and scale of development of individual market players. Moreover, the catch-up emission reduction path with an increase of 8% in output and 4.76% in energy consumption is the optimal carbon peaking path under energy quota trading. Our findings shed valuable light on China's efforts to expand energy quota trading for high-quality development in the context of carbon peaking. • Propose a command-controlled DEA model and an energy quota trading DEA model. • Assess TFP and its growth sources for industrial sector in China. • Compare the impact of different energy policies on economic potential and TFP. • Estimate the energy saving and emission reduction potential of energy quota trading. • Examine the optimal energy-saving and emission-reduction path forecasts for carbon peaking.. [ABSTRACT FROM AUTHOR]

Global warming has accentuated the effects of extreme heat on health. Health insurance, functioning as a risk management tool, has the potential to alleviate these impacts. Consequently, this paper investigates the correlation between extreme heat events and the demand for health insurance in China. Using data from the China Health and Nutrition Survey, we have observed a substantial increase in the likelihood of residents purchasing health insurance during extreme heat events. To be specific, for every extra day of extreme heat events annually, there is a 0.3% increase in the probability of purchasing health insurance. This effect is not uniform across different demographic groups. It is particularly pronounced among middle-aged and elderly individuals, rural residents, those with lower educational levels, higher income brackets, and individuals residing in underprivileged areas with limited access to green spaces and healthcare facilities. Furthermore, our study indicates that the increased frequency of extreme heat events not only impacts individuals' physical health but also triggers negative emotions, which in turn drive risk-averse behavior related to health insurance purchases. These findings carry substantial policy implications for mitigating the economic consequences of climate change. • Extreme heat increases the likelihood of residents purchasing health insurance. • Each additional day of extreme heat boosts health insurance purchases by 0.3%. • This effect varies among different populations. • Mechanistic analyses indicate extreme heat impacting physical and mental health. [ABSTRACT FROM AUTHOR]