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In recent years, with the rapid development of the Internet industry, the publicity effect of paperbark walnuts has been substantially increased, and the consumption and demand of paperbark walnuts have been rising, and the output of paperbark walnuts in China has also increased year by year. This paper takes the panel data of the top three prefecture-level cities in each GDP ranking of five provinces in northwest China from 2012 to 2021 as the sample and combines the DEA model with Malmquist to evaluate and analyze the logistics efficiency of paper walnuts in northwest China. It is found that the overall logistics efficiency of paperback walnuts in Northwest China has been improved in recent years, but there are still areas that need to be improved, such as the factor distribution is not reasonable enough; the logistics efficiency of paperback walnuts in Northwest China from 2012 to 2021 is in a fluctuating state; the logistics efficiency of paperback walnuts in Shaanxi Province is better than the other provinces and is in the leading position; the improvement of technological progress has a key role in the total factor productivity improvement. As a result, this paper puts forward five specific suggestions based on the research results to help accelerate the improvement of paper walnut logistics efficiency in Northwest China. [ABSTRACT FROM AUTHOR]

This paper examines the digital economy's impact on rural household consumption upgrading. Existing studies remain mainly at the level of rural consumption scale and rarely address the consumption structure. The specific impact of the development of the digital economy on rural consumption upgrading and its mechanisms of action deserves in-depth study and consideration. We analyzed the related content using the fixed-effect model, the instrumental variable method (IV), the mediation effect model, and three-year panel data from the China Family Panel Studies (CFPS). This study found that, at the scale level, the digital economy contributes to expanding rural household consumption. At the structural level, the digital economy significantly increases the share of enjoyment-oriented household consumption but has no significant effect on development-oriented consumption. Income is an important transmission mechanism for the digital economy to improve rural household consumption. Besides, the impact of the digital economy on the upgrading of rural consumption varies according to income level and age. [ABSTRACT FROM AUTHOR]

With the implementation of deep-market-oriented reforms in China, an accurate interpretation of the effect and transmission mechanism of the marketization of industrial land transfer on carbon emission reduction can provide references for further elevating the role of land policy in China's low-carbon economic transition. Based on the balanced panel data of China's provincial level from 2009 to 2020, this paper uses carbon emission intensity to quantify emission reduction targets, and studies the effects of the marketization of industrial land transfer on regional carbon emission intensity, as well as its internal mechanism, by describing the typical characteristics. Moreover, this paper analyzes the moderating role of environmental governance and conducts area heterogeneity analysis. The main results show that (1) the marketization of industrial land transfer can significantly reduce regional carbon emission intensity, and the negative effect is stronger in the mid-west compared with the effect in the east. (2) Environmental governance can play a positive moderating role in the relationship between the marketization of industrial land transfer and the carbon emission intensity. (3) Industry selection is the internal mechanism by which the effect of the marketization of industrial land transfer on regional carbon emission intensity operates, and the mechanism is represented more prominently in the mid-west. The main conclusions provide inspiration for land policy regulation in relation to carbon emission reduction. China's local governments should implement specific strategies to improve the market-based operation mechanism of land, attracting industries with high energy efficiency and low carbon emissions, and strengthening the intensity of environmental governance. [ABSTRACT FROM AUTHOR]

Based on the panel data of the province and municipality in 2010-2021, this paper measures the fishery eco-efficiency by using the SBM-DEA model and empirically analyses how China's marine ranch construction improves the fishery eco-efficiency by using the double-difference fixed-effect model. The results show that, firstly, China's marine ranch construction can improve the fishery eco-efficiency. Secondly, China's marine ranch construction promotes fisheries eco-efficiency by improving the input efficiency of labor, fish species, fishing vessel, fishery technology extension, aquaculture area and by reducing pollutant outputs. Thirdly, the fishery eco-efficiency of the marine ranch construction region has increased annually since 2015, and technological changes, scale efficiency changes and technical efficiency changes can all contribute to the fishery eco-efficiency improvement, and increase in order. Based on the results of the empirical analyses, this paper proposes policy recommendations to improve the fishery eco-efficiency in the conjunction with the construction of marine ranch in China. [ABSTRACT FROM AUTHOR]

Regional innovation ecosystems (RIEs) are a new paradigm in innovation research, and the development of RIEs under digitization is constrained by the development of innovation environments. The study of ecological niche suitability of regional innovation environment provides the basis for the government to create an innovation environment suitable for the development of a regional innovation ecosystem. This paper conducts an empirical analysis based on panel data from 29 provinces (autonomous regions) in China from 2012 to 2021. The paper analyzes the suitability of the ecological niche of the innovation environment as well as the spatio-temporal evolution pattern of the regional innovation ecosystem under digitalization in China. The results of the study show that: (1) The innovation environment of regional innovation ecosystems under digitization in China has become increasingly suitable during the sample period. (2) From the perspective of evolution in time, the suitability of the ecological niche of the regional innovation environment has always maintained an evolutionary trend of rolling forward in the echelon. (3) From the perspective of spatial evolution, the center line of the curve of the development level of the suitability of the regional innovation environment shows a rightward shifting evolution. [ABSTRACT FROM AUTHOR]

At present, the digital economy, which takes information technology and data as the key elements, is booming and has become an important force in promoting the economic growth of various countries. In order to explore the current dynamic trend of China's digital economy development and the impact of the digital economy on the high-quality economic development, this paper measures the digital economic development index of 30 cities in China from the three dimensions of digital infrastructure, digital industry, and digital integration, uses panel data of 30 cities in China from 2015 to 2019 to construct an econometric model for empirical analysis, and verifies the mediating effect of technological progress between the digital economy and high-quality economic development. The results show that (1) The development level of China's digital economy is increasing year by year, that the growth of digital infrastructure is obvious, and that the development of the digital industry is relatively slow. (2) Digital infrastructure, digital industry and digital integration all have significant positive effects on regional total factor productivity, and the influence coefficients are 0.2452, 0.0773 and 0.3458 respectively. (3) Regarding the transmission mechanism from the digital economy to the high-quality economic development, the study finds that the mediating effect of technological progress is 0.1527, of which the mediating effect of technological progress in the eastern, northeast, central and western regions is 1.70%, 9.25%, 28.89% and 21.22% respectively. (4) From the perspective of spatial distribution, the development level of the digital economy in the eastern region is much higher than that in other non-eastern regions, and the development of digital economy in the eastern region has a higher marginal contribution rate to the improvement of the total factor productivity. This study can provide a theoretical basis and practical support for the government to formulate policies for the development of the digital economy. [ABSTRACT FROM AUTHOR]

Copyright of Nóesis: Revista de Ciencias Sociales is the property of Revista Noesis and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Many policy measures are included in China's 2020 poverty reduction schedule by 2020. The advantages of digitization have been used to break through the realistic difficulties of traditional financial inclusion and effectively solve the problem of the last mile of financial inclusion. Using a generalized difference-in-differences method,this paper selects the digital financial inclusion indicator and China family panel studies, and analyzes the impact of the digital financial inclusion indicator on rural family poverty reduction . The following conclusions have been drawn through empirical study: First, the development of digital financial inclusion aids in the reduction of poverty among rural families. Second, there is regional heterogeneity in the impact of digital financial inclusion on poverty reduction among rural families. Third, the mechanisms of digital financial inclusion to reduce poverty in rural families include increasing wage income, easing credit constraints and encouraging entrepreneurship. [ABSTRACT FROM AUTHOR]

The "Three Rural Issues", encompass challenges related to agriculture, farmer, and rural area, which hold significant importance in driving comprehensive rural revitalization efforts in China. Farmer entrepreneurship, as a crucial means to enhance productivity, create job opportunities, and increase residents' income, has gradually become a key driving force in promoting rural revitalization in the new stage of development in China. With the rapid development of rural e-commerce, farmer entrepreneurship has encountered new opportunities. This study utilizes the 2020 China Family Panel Studies (CFPS) data and employs a structural equation model (SEM) to analyze the direct impact of rural e-commerce participation on farmer entrepreneurial behavior, considering factors such as human capital, social capital, and network infrastructure. This study further explores the indirect effects and mechanisms of e-commerce participation as a mediating variable and analyzes the impact and mechanisms on agricultural entrepreneurship behavior. The findings are as follows: (1) E-commerce participation significantly promotes farmer entrepreneurial behavior; (2) E-commerce participation as a mediating variable has a positive indirect effect on the relationship between social trust, network infrastructure, human capital, and farmer entrepreneurial behavior; (3) E-commerce participation has a significant positive influence on farmer entrepreneurship in the agricultural sector, and farmers with higher levels of network infrastructure and human capital have a higher probability of choosing agricultural entrepreneurship under the influence of e-commerce participation. Finally, this study provides policy recommendations in terms of infrastructure construction, entrepreneurial policy environment, and education level, aiming to optimize the situation of farmer entrepreneurship and contribute to the comprehensive promotion of rural revitalization.Overall, the research in this paper effectively combines theory and empirical evidence to outline the direct and indirect impact mechanisms of rural e-commerce participation on farmers' entrepreneurial behavior and agriculture-related entrepreneurial behavior and to test the effects of their impacts. First, most of the existing literature deals with farmers in individual sample areas, while the sample selected in this paper is farmers in the whole country, which is relatively more generalizable; second, most of the previous studies explore the level of e-commerce in the inter-provincial or county areas, while this paper expands the empirical study of rural e-commerce on the entrepreneurial behavior of farmers and the micro-period of agricultural entrepreneurial behavior, and focuses on the impacts of the e-commerce activities of farmers on their entrepreneurial behavior. [ABSTRACT FROM AUTHOR]

This paper uses inter-provincial panel data from 2011 to 2017, a linear regression model, and a threshold model to conduct empirical analyses of the impact of the digital economy on China’s overall economic growth and the three main sectors of industry. The paper then investigates the impact and effects the digital economy has had on the economic growth of the three main sectors of industry in China’s eastern, central, and western regions. Finally, the paper investigates the most significant differences among the various regions and the threshold effects of urbanization levels on the relationship between the digital economy and economic growth. The findings indicate a significantly positive correlation between the digital economy and regional economic growth. Moreover, geographical factors notably influence this correlation. The digital economy exerts a positive effect on all sectors of industry. It may not substantially impact industrial development in regions with highly developed infrastructure. Regarding the other regions, the digital economy exhibits varying degrees of impact due to the differences in the specific indicators. The conclusion drawn by the threshold model is that the magnitude of the threshold effect correlates with geographic factors. No threshold effect was observed in the eastern region, while the threshold effect occurred in the central region when the urbanization levels for the provinces were below 0.6645. Similarly, the threshold effect was noted in the western region when the urbanization level was below 0.3931. Considering all of this, the study also offers policy recommendations that will help balance the regional development of digital economies, accelerate the digital transformation of traditional industries, enhance digital infrastructure construction, refine the formulation and implementation of data policy, and establish relevant incentive mechanisms. [ABSTRACT FROM AUTHOR]

This paper examines the little-known connection between econometrics and accounting invoked by Paweł Ciompa, who first introduced the term econometrics in 1910. Since then, research in accounting and in statistical (econometric) analysis has developed in parallel. It is argued that contemporary accounting research is methodologically closer to econometrics than ever before. This paper concentrates on the accounting origins of econometrics and on the econometric methodologies currently in use in accounting research, beginning with Paweł Ciompa's introduction of the term econometrics in accounting. The major contribution of this paper is a review of the occurrence of econometric methods in five leading journals in accounting research. The author identified 246 papers, and these were examined regarding the use of econometric methods. Two-thirds of the papers used methodologies that belong to econometrics—specifically, to financial microeconometrics. The most common methods were panel data models, qualitative variables models, and causality models. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine an emerging product–place co-branding marketing practice in China's rural areas. The role of this practice in inclusive development is analyzed from the perspectives of value proposition innovation, market legitimacy, media coverage and brand value. Both research and practice indicate value proposition innovation to exert an important influence on brand value enhancement, but little is known about the mediating and moderating mechanisms underlying this relation. Design/methodology/approach: A moderated mediation model is constructed to examine whether market legitimacy mediates the relationship between value proposition innovation and brand value. vWhether this mediating process is moderated by media coverage is also examined. The primary data are collected from semi-structured interviews and observations conducted with two common cases to develop proper scales for value proposition innovation and market legitimacy. The research includes 100 product–place co-brandings published by the Ministry of Agriculture and Rural Affairs in 2019. Hypotheses are tested using hierarchical regression and a Bootstrap model. Findings: Value proposition innovation has a positive effect on brand value, and market legitimacy partially mediates this relationship. Media coverage positively moderates the relationship between value proposition innovation and market legitimacy, and positively moderates the mediating effect of market legitimacy; the higher the media coverage, the stronger the mediating effect of market legitimacy. Research limitations/implications: Based on data availability and accessibility, the study sample focused on indicators from 100 brands in 2019. If the Ministry of Agriculture and Rural Affairs discloses consecutive annual information for other years, future studies could explore panel data to further test the study's conclusions from a longitudinal perspective. Originality/value: First, this paper adds to the emerging literature on product–place co-branding business models by examining the relationship between value proposition innovation and brand value. Second, this paper enriches institutional theory by including market legitimacy as a mediator between value proposition innovation and brand value. Third, this paper identifies the moderating role of media coverage, thus broadening the theoretical implications of institutional theory with respect to improving market legitimacy. [ABSTRACT FROM AUTHOR]

Cities are the core carriers and key positions to achieve the dual carbon goals. It is of great significance to explore whether promoting urbanization can improve carbon emission performance, which is of great significance to comprehensively promote the goal of carbon neutrality. Based on the panel data from 2006 to 2021, this paper analyzes the spatial autocorrelation of carbon emission performance per unit space and the impact mechanism of urbanization process on it. The fixed-effect model was further used to identify the influencing factors of spatial carbon emission performance. The results show that: 1) China's carbon emission performance per unit space is declining year by year. 2) There is a strong positive spatial correlation and stable path dependence on the performance of carbon emissions per unit space in each region. 3) To a certain extent, increasing the level of urbanization will reduce the carbon emission performance per unit space. 4) The urbanization process has a spatial spillover effect on the carbon emission performance per unit space of surrounding provinces, and the spatial spillover effect of industrial structure and energy consumption structure is more obvious than that of economic level, population density and urbanization rate. Based on the conclusions, this paper puts forward specific policy suggestions to reduce the carbon emission performance per unit space to help the low-carbon development of cities. [ABSTRACT FROM AUTHOR]

As the proportion of household carbon emissions to global carbon emissions continues to increase, reducing carbon emissions from household consumption has become an important way to achieve the goals of carbon peaking and carbon neutrality. How the trend of miniaturization of household size will affect household carbon emissions is a matter of concern. This paper uses a sample of 9,090 households from the China Family Panel Studies (CFPS) database in 2018 to empirically study the impact of changes in household size on household carbon emissions, from the perspective of household consumption structure and urban-rural areas. The research results indicate that the miniaturization of household size will increase household carbon emissions, the impact of household size on indirect HCEs is greater than on direct HCEs. The impact of household size on indirect HCEs is heterogeneous in consumption structure and the impact of household size on indirect HCEs from housing, transportation is greater than that of other consumption items. The impact of household size on urban household carbon emissions is greater than that in rural areas. The upgrading of household consumption structure and the miniaturization of household size promote the increase of HCEs jointly. Therefore, this paper proposes that under the trend of household miniaturization, energy-saving and emission reduction policies should focus on reducing indirect households carbon emissions, optimizing household structure and household consumption structure, enhancing environmental awareness among family members, establishing and improving the green consumption system, and building environment-friendly households. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explore the impact of business environment on high-quality economic development (HQED) and clarify the role of technological innovation and government intervention in this relationship. Design/methodology/approach: Based on China's provincial panel data from 2010 to 2019, this paper adopts the system generalized method of moments to empirically analyze the influential mechanism and heterogeneity of the business environment on HQED. Furthermore, the authors construct a dynamic panel threshold model to test the threshold effect of government intervention. Findings: The results indicate that optimizing the business environment can significantly promote HQED, technological innovation plays a partial mediating role in the impact of business environment on HQED, mainly by enhancing the intensity of innovation input and increasing innovation output to facilitate HQED. Government intervention can regulate the impact of business environment on HQED, and there is a double threshold effect, and it possesses an inverted U-shaped feature of first promoting and then inhibiting. Originality/value: This paper examines the influence path of business environment on HQED from the perspective of technological innovation and government intervention, filling the gap in the study of provincial business environment. Moreover, the conclusions furnish a theoretical basis for optimizing the business environment and facilitating the HQED in China. [ABSTRACT FROM AUTHOR]

Continuous enhancement of sustainable development capacity is one of the goals of building a well-off society. In order to understand the development of each region, it is necessary to make a comprehensive evaluation of their sustainable development capacity. This paper presents a study of the 11 regions of Hebei Province, China. Considering the influence of time on urban development, this paper comprehensively evaluates the sustainable development ability of each region in Hebei Province from three dimensions of society, economy and environment based on panel data. The evaluation results show that Shijiazhuang has the strongest sustainable development capacity. On this basis, the promoting factors and restricting factors of sustainable development in each region are found by using grey correlation analysis method. This study provides a reference for the future sustainable development of each district. [ABSTRACT FROM AUTHOR]

The reasonable allocation of grain production factors is of vital importance to food security and agricultural development. To assess the impact of agricultural factor misallocation on food security, this paper, based on the panel data from China spanning from 2005 to 2019, conducted a comprehensive evaluation of agricultural factor misallocation and food security coefficients across 31 provinces in China, using a spatial Durbin model to examine the effects of factor misallocations on food security. The findings are as follows: (1) Production factor misallocation has significant negative impacts on food security, among them, capital misallocation and labor misallocation inhibiting food security in the local and neighboring areas, and land misallocation has a significant negative impact on food security in local areas, while its spatial spillover effect is no longer significant. (2) Mechanism analysis shows that capital misallocation and labor misallocation hinder the development of transportation infrastructure and the transfer of rural labor, thereby reducing food security. Land misallocation has accelerated the construction of transportation infrastructure, promoted the migration of rural labor, and helped ensure food security. (3) The regional heterogeneity test reveals that capital misallocation and labor misallocation hinder food security in major grain-producing areas and both sides of the Hu Huanyong Line (Hu Line). Meanwhile, land misallocation hinders food security development in various grain-producing areas, as well as the southeast of the Hu Line. Based on the above conclusions, this paper proposes suggestions to improve the efficiency of land and labor resource allocation, accelerate the construction of transportation infrastructure, and encourage the transfer speed of surplus agricultural labor. [ABSTRACT FROM AUTHOR]

Agriculture represents the "cause" and the "victim" of climate change. Almost 30 percent of greenhouse gas emissions come from the agricultural sector. They contribute to global warming and therefore significantly affect the sustainability of agricultural production systems. The aim of the paper is to determine which factors have the greatest influence on the greenhouse gas emission from agriculture. For this purpose, a dynamic panel analysis for 26 members of the European Union in the period from 2013 to 2021 in the paper is conducted. The results of the analysis suggest that the capacity for biofuel production, organic agricultural production and greenhouse gas emissions from the previous period have the greatest impact on the same emissions from agriculture. The results of this research can serve policy makers in formulating strategies for the development of food systems that will pollute the environment to a lesser extent and use available resources more rationally. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of Internet infrastructure construction on enterprise transformation and upgrading and the underlying mechanisms using a progressive double difference model based on a quasi-natural experiment of the Chinese government's "broadband China" policy by matching A-share listed companies and city panel data from 2008–2019 in Shanghai and Shenzhen. The conclusions show that the "broadband China" policy can significantly promote the transformation and upgrading of enterprises in pilot cities. However, its effect shows a diminishing marginal contribution, and the policy is more effective for traditional manufacturing industries during the implementation period. Enhancing human capital and reducing internal transaction costs are two important channels for Internet infrastructure construction to help enterprises transform and upgrade. Combined with the life cycle theory, we find that the "broadband China" policy has the most significant impact on changing and upgrading enterprises in the growth and maturity stages, especially those in the manufacturing industry, but not those in the maturity and decline stages of the service industry. Finally, a series of robustness tests using Monte Carlo simulation, entropy balance method, and instrumental variables method, excluding other factors, show that the findings are still robust. [ABSTRACT FROM AUTHOR]

This paper expounds the theoretical logic among digital inclusive finance, urbanization, and agricultural mechanization level, puts forward the research hypothesis, and then selects the county unbalanced panel data of 1309 counties in China from 2014 to 2020 based on the two-way fixed model with standard error clustering to county level and mediating effect model for empirical data regression analysis. Through baseline regression analysis, mediation effect analysis, and heterogeneity analysis, the findings of this paper are as follows. First, digital financial inclusion has a significant positive effect on the growth of agricultural mechanization. Second, digital inclusive finance at the county level can also indirectly affect the growth of agricultural mechanization through urbanization. That is, agricultural mechanization has an intermediary effect between the financial agglomeration at the county level and the growth of farmers' income. Third, the impact of county-level digital financial inclusion on the growth of agricultural mechanization level is significantly heterogeneous, and the promoting effect is significant in areas with balanced grain production, national-level poor county or contiguous areas of dire poverty, and areas with a good foundation for digital financial inclusion. By analyzing digital inclusive finance, urbanization, and agricultural mechanization, this paper proposes targeted policy recommendations. First, the government can promote agricultural mechanization by developing digital financial inclusion. Second, the government should guide and accelerate the process of digital financial inclusion, promoting urbanization thereby amplifying the positive impact of digital financial inclusion on agricultural mechanization. Third, given the heterogeneity of the impact of digital financial inclusion on agricultural mechanization, local development should focus on developing different dimensions of digital financial inclusion according to specific conditions. [ABSTRACT FROM AUTHOR]

This paper aims to approach the topic of structural convergence for new member states from the perspective of input-output analysis. Using a set of input-output measures, based on the OECD RStan database, and a number of unit-root tests, both for individual time series and panel data, this paper tests whether there is convergence relative to the production structure of the German economy. Although the individual tests are somewhat mixed, the panel unit-root tests indicate the presence of convergence. The results highlight the importance of assessing structural convergence based on panel tests. They also highlight that as nominal and real convergence are gradually achieved, structural convergence should also become more prioritized. [ABSTRACT FROM AUTHOR]

Since 2016, China has progressively relaxed family planning policies to stimulate birth rates. This paper examines the behavioral health repercussions of China's 2016 universal two-child policy (UTCP) by analyzing sleep pattern data from China Family Panel Studies. Napping is a composite indicator that denotes health outcomes, job quality, and personal well-being. It reveals work conditions and environments to some extent. UTCP may lead to heightened social expectations regarding pregnancy likelihood, and changes in social expectations within the workplace may make work environments less equitable and more stressful for females. Leveraging a difference-in-difference model, this paper explores how napping behaviors among the working-age cohort have responded to the policy shifts. Our analysis reveals a gender discrepancy in response to the policy, specifically, females exhibit a discernible reduction in the likelihood of napping, as well as in the duration of both daytime naps and daily sleep. Conversely, such effects are not significant among males. These results suggest policy consequences extend beyond individuals directly impacted by childbirth or contemplating parenthood. Hence, while promoting fertility is still the government's goal, policymakers are encouraged to consider the broader challenges the female population faces from social and workplace environment factors. [ABSTRACT FROM AUTHOR]

The massive CO2 emission has caused frequent occurrence of climate problems, and a typical response to climate change has reached international consensus. Digital finance and green finance, as a subversion of the traditional financial model, have become significant drivers of global carbon emissions reduction efforts. Based on the panel data, this paper profoundly compares the effects of carbon emissions reduction, mechanisms, and heterogeneous results of two forms of finance. Research finds that technology-centered digital finance focuses on suppressing carbon emissions through technological innovation, and the higher the level of regional economic is, the stronger the role of digital finance in suppressing carbon emissions through technological innovation. The concept-centered green finance focuses on carbon emissions reduction through industrial ecologization, and government-led environmental regulation plays a positive regulatory role. Although the paths of affecting carbon emissions are different, there is a natural fit between the two in terms of the essential goal of carbon emissions reduction. Based on the consideration of the differences in geographic location and financial development level, the carbon emission reduction effects of two forms of finance show apparent heterogeneity. Based on the spatial characteristics of digital finance and carbon emissions, this paper further finds that the digital finance's carbon emission reduction effects have apparent spatial spillovers. These findings provide an essential direction to formulate a reasonable carbon emissions reduction plan and accelerate realizing the "double carbon" goal. [ABSTRACT FROM AUTHOR]

Assessing the vulnerability of the economy, society, and environment of the belt and road initiative (BRI) countries and identifying the distribution characteristics are significant to promoting the construction of the Belt and Road. Based on the panel data of the BRI countries, this study selects 22 indicators from three aspects of the economy, society, and environment to construct a comprehensive indicator evaluation system and propose a multi-index and long time series vulnerability calculation scheme. Furthermore, the spatial differentiation characteristics and influencing factors of vulnerability in BRI countries are studied. The results show hierarchical differences in the comprehensive vulnerability index of BRI countries, and the low-vulnerability countries accounted for the largest proportion. The economic vulnerability, social vulnerability, and environmental vulnerability of the BRI countries all have apparent spatial variations. Among them, the vulnerability of various systems in Central and Eastern Europe and Northeast Asia is relatively low, while most of West Asia, northern South Asia, southern Central Asia, and some parts of Southeast Asia have relatively high vulnerability. In addition, economic development, economic structure, resource security, and infrastructure are all factors that have a greater impact on the comprehensive vulnerability, while the impact intensity varies with regional differences. Finally, this paper puts forward appropriate suggestions. With the goal of reducing the comprehensive vulnerability, this paper tries to provide a reference for better promoting the sustainable development of the BRI. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The study of spatio-temporal evolution characteristics and factors affecting the coordinated development of population and green economy (CD_PGE) in Shandong province, China, has significant decision-making implications for promoting high-quality and sustainable regional development. Based on 2001 to 2020 panel data for each city and economic zone in Shandong province, this paper constructs an evaluation model for the CD_PGE systems. Using growth elasticity models, geographic concentration models, kernel density estimation models, spatial autocorrelation, analysis of population and regional green economy development in Shandong Province from the perspective of spatial agglomeration coupling, spatial and temporal coupling coordination patterns, and evolutionary characteristics. In addition, we use the fixed effect models and panel quantile models to empirically test the effects of coordinated demographic and green economy development. The results show that: (1) In terms of demo-graphic and economic development characteristics, Shandong's demographic and green economy development trends are good, but there are still many challenges. (2) According to the time series evolution and spatial distribution characteristics, the degree of CD_PGE in Shandong Province is on the rise, and the level of spatial distribution is distinct. (3) From the spatio-temporal dynamical grid evolution of the degree of CD_PGE, the CD_PGE is characterized by significant spatial clustering, but with large regional differences. (4) From an impact factor perspective, both market mechanisms and government intervention have a significant impact on the degree of CD_PGE, but the direction and extent of the impact vary. [ABSTRACT FROM AUTHOR]

The low-carbon economy represents a global transformation that encompasses production methods, lifestyles, values, national interests, and the destiny of humanity. As a significant contributor to carbon emissions, China has made a momentous strategic decision on carbon peaking and neutralization, infusing momentum into the global effort to address climate change. The rapid growth of the digital economy offers a fresh approach to achieving the "double carbon" objective and advancing the development of low-carbon transformation. Based on the panel data of 30 provinces in China, this paper uses the least square method to investigate the impact of digital economy development on regional low-carbon inclusive development. It is found that there is a significant inverted U shape in the impact of the digital economy on low-carbon inclusive development and the mechanism is resource allocation and ecological inequality. The threshold test found that the role of the digital economy in promoting low-carbon inclusive development shows a marginal decreasing trend. The inverted U-shaped impact of the digital economy on low-carbon inclusive development in the eastern and coastal areas and areas with a low level of factor productivity is more significant. Based on the knowledge factor spillover perspective, we found that the impact of the digital economy on low-carbon inclusive development has a spatial spillover effect, and this effect is more obvious under the role of R&D personnel mobility. [ABSTRACT FROM AUTHOR]

Using panel data from 30 provinces in China from 2005 to 2020, this paper uses a spatial double difference model to evaluate the policy impact of the "grain-to-feed" policy on feed grain production in pilot areas and adjacent spatial areas. Research has found that the "grain-to-feed" policy has a significant impact on the feed grain production in pilot areas and can significantly increase the feed grain production in pilot areas by about 2.71 million tons. The "grain-to-feed" policy has strengthened the positive connection between pilot areas and adjacent pilot areas, increased feed grain production, and has a significant spatial spillover effect. Robustness analysis shows that whether using different methods to measure spatial adjacency or using different standards to distribute subsidies, the "grain-to-feed" policy can significantly increase feed grain production, narrow the supply and demand gap of feed grain, and ensure feed grain security. Further analysis shows that the "grain-to-feed" policy can not only ensure the security of feed grain for the current and next periods but also promote the increase in farmers' income, which is long-term and sustainable. Compared with non-pilot areas, the "grain-to-feed" policy can mitigate the negative impact of wage–price signals on feed grain production in pilot areas. It is recommended that government departments accelerate the transformation of food security concepts, establish a "Big Food Perspective", gradually promote the pilot of the "grain-to-feed" policy nationwide, increase the subsidy amount of the "grain-to-feed" policy, increase financial support for scientific and technological research and achievement transformation in the field of feed grain, prevent the impact of economic price signal fluctuations on feed grain production, and effectively ensure the security of feed grain in China. [ABSTRACT FROM AUTHOR]

Purpose: Most studies explore the success of mergers and acquisitions through ex ante analyses based on the compatibility of resources and capabilities between the acquirer and target. As more than half of them fail, there seems to be room for enhancing our understanding of when and how acquisitions can actually improve firms' competitiveness. Diverging from these conventional approaches, the authors posit that attention should be at the strategic level. The purpose of this paper, therefore, is to explore the existence of compatibility between acquirers' and targets' competitive strategies and its effect on post-acquisition business performance. Design/methodology/approach: Through the Thomson Reuters Eikon financial and acquisition databases, the authors built a unique data panel of 174 acquirer–target matched acquisitions in the manufacturing sector from 24 different countries between 2000 and 2020. The authors used a two-step System-GMM approach to address the hypotheses proposed in this paper. This methodology allowed to isolate and easily compare the differential effects of each possible combination of strategic similarity and dissimilarity between the target and acquiring company on the latter's post-acquisition strategies. Findings: The need to unravel the motives behind successful acquisitions has gained enormous interest in recent years among academics and managers to improve – or maintain – firm competitiveness. Through a panel data of 174 acquisitions among manufacturing firms (2000–2020), this study shows that differentiated firms improve their business performance by acquiring firms with similar strategies; nevertheless, their performance worsens if the acquired firm follows a cost-leadership strategy. Concerning acquirers with a cost-leadership strategy, the lack of clear behavioral patterns suggests that the lower knowledge absorption capacity associated with these firms might be a decisive factor in being able to assimilate and efficiently exploit the acquired firm's knowledge. Originality/value: Overall, this approach offers a new and valuable perspective for practitioners because it improves understanding of the possible causes of merger failure and opens new attentions to consider in maximizing success and long-term competitiveness. The results of this study bring, thus, an unexpected result to this research: the importance of the acquirer's strategy beyond the similarity or dissimilarity of the strategies of the acquirer and the acquired company. [ABSTRACT FROM AUTHOR]

Introduction: With the rapid development of digital technology and its deep integration with environmental and ecological fields, the digital economy has become an effective way to guide the transition of cities to an eco-friendly model. However, empirical studies on the nonlinear spatial effects between digital economy and ecological welfare performance are still insufficient. Methods: Based on the panel data of 270 prefecture-level cities in China from 2011 to 2020, this paper empirically examines the impact of the digital economy on the ecological welfare performance of cities and its mechanism of action using spatial econometric modeling. Results: The promotion effect of digital economy development on the ecological welfare performance of cities is characterized by the "J" shape of increasing marginal effect, and the spatial spillover effect on the ecological welfare performance of neighboring cities is the inverted "U" shape of inhibiting first and then promoting later. The mechanism test shows that the development of digital economy can enhance the ecological welfare performance of cities through the marginal incremental promotion of green technological innovation in local and neighboring cities and has a positive spatial spillover effect. The development of digital economy can have a direct U shape effect on local ecological welfare performance by influencing factor allocation efficiency and energy utilization efficiency. It also has an inverted U-shaped spatial spillover effect. Environmental regulation has an inverted U-shaped moderating effect on the local eco-welfare performance affected by the digital economy. As the level of rural revitalization increases, it produces a U-shaped moderating effect of inhibiting. Heterogeneity analysis reveals that digital economy development has a more significant facilitating effect and a positive spatial spillover effect on the ecological welfare performance of cities in central China. Discussion: This paper will provide a reference for the synergistic optimization of digital economy development and ecological welfare performance among regions. The findings of the study will promote the development of digital economy and accelerate the realization of the goal of "Beautiful China". [ABSTRACT FROM AUTHOR]

Based on the unbalanced panel data of Chinese professional health insurance companies from 2011 to 2021, the paper constructs "PW+PCSE" model to empirically investigate the main factors affecting the commercial health insurance surrender in China from the company level. The results show that asset-liability ratio has a significant positive effect on health insurance surrender rate. The value preservation and appreciation rate of capital and R&D expenditure rate both have significant negative effects on health insurance surrender rate. These studies bring important enlightenment for domestic health insurance companies to avoid surrender risk. [ABSTRACT FROM AUTHOR]

Digital economy has become a "new engine" that driving global economic growth. Nevertheless, numerous controversies persist regarding whether and how digital economy can facilitate the development of emerging industries. Thus, this paper investigates how digital economy affects creative industries development in China and whether innovation efficiency mediates this relationship. Drawing upon a panel data set containing 29 Chinese provinces from 2012 to 2019, an econometric model is constructed for empirical analysis. We find that digital economy significantly promotes creative industries development, and innovation efficiency plays a partial mediating role between digital economy and creative industries development. According to the influence mechanism, the digital economy of various regions could promote the creative industries development by improving the innovation efficiency. Finally, relevant suggestions were put forward from the expanding application paths, improving regional innovation efficiency, and creating an innovative environment. [ABSTRACT FROM AUTHOR]

Mining user data and constructing web user profiles of older adults from the perspective of elderly services is conducive to understanding their behavioral habits, needs, and usage preferences on the web, which provides more targeted elderly care services. In this paper, IGA-SOMK + + , which is a novel clustering method for constructing web user profiles of older adults, is proposed based on the China Family Panel Studies (CFPS) survey data, which include 6596 older adults aged greater than 60 years. The selected data aspects include basic information, work situation, health situation, living habits, and web use services. To describe the web user profiles of older adults, a hybrid method based on improved genetic algorithm (IGA) feature selection, self-organizing feature maps (SOM), and K-means + + is proposed. Data on older adults' web use behaviors are first processed, and IGA is used for feature selection based on the adaptive crossover and mutation probabilities. SOM is then used to determine the initial center vectors of K-means + + for further clustering, which is referred to as SOMK + + (SOM-K-means + +). The results of IGA-SOMK + + are compared with those of the state-of-the-art methods, including the K-means, mini batch K-means, Agnes, K-modes, FCM, K-means + + , SOMK + + , and IHPSO-KM. In addition, the significance and robustness of IGA-SOMK + + are analyzed. The experimental results show that the IGA feature selection reduces the influence of the redundant feature factors and improves the performance of the clustering algorithm. SOMK + + overcomes the sensitivity of K-means to initial cluster centers. Moreover, IGA-SOMK + + has the best clustering effect among the compared algorithms in terms of silhouette coefficient (SC), calinski-harabaz (CH) index, and davies-bouldin (DB) metrics. For example, it increases the SC from 0.280 to 0.629. Finally, by analyzing the results, the user group of older adults is segmented to perform the deep mining of CFPS data, which verifies the feasibility of the user profile model. This paper summarizes the basic situation of the current web access of older adults in China in terms of web use services, as well as the importance of the web in their lives and in the information channels. It also provides suggestions for the current problems of older adults in accessing the web. [ABSTRACT FROM AUTHOR]

Resident consumption is an important link to smooth the domestic circulation and promote the economy to achieve high-quality development. To stimulate the vitality of residents' consumption and achieve the expansion and quality of consumption, we should not only focus on the scale and willingness of residents to consume, but also consider the motivation of consumption. The paper analyzes the impact of intergenerational income mobility on residents' marginal propensity to consume and consumption altruism motive by expanding the Over Lapping Generation Models and combining the China Family Panel Studies (CFPS) data. The results of the study show: Intergenerational Income Elasticity has a significant positive effect on residents' marginal propensity to consume. When Intergenerational Income Elasticity increases, the "altruistic motive" of residents' consumption will also increase significantly. Compared with rural residents, Intergenerational Income Elasticity has a stronger positive effect on urban residents' marginal propensity to consume and marginal propensity to consume education. With the effect of intergenerational factors, urban residents' consumption shows stronger altruistic motives. [ABSTRACT FROM AUTHOR]

Background: With the arrival of the era of large-scale production, sharing and application of data, digital use has gradually changed people's daily entertainment, consumption, social interaction, learning and other behaviors in its efficient form. This paper mainly discusses whether this fast and convenient behavior leads Chinese older adults to adopt healthier lifestyles. Methods: Using the most recent information from the Chinese Family Panel Studies (CFPS) in 2020, this paper conducted a descriptive statistical analysis on the basic situation of digital use and lifestyles among Chinese older adults and used a structural equation model to analyse the influence of frequency and types of digital use in a variety of different aspects of the real life of Chinese older adults. Results: Research revealed that the quality of life of Chinese older adults improved significantly as a result of their use of digital technology. The frequency of digital use (FDU) significantly improved Chinese older adults' diet, sleep, exercise, smoking and drinking, and relieved their depression. The types of digital use (TDU) had a significant positive correlation with the lifestyle of Chinese older adults, especially in the influence of digital entertainment (DE), digital consumption (DC) and digital social interaction (DI) on the lifestyle of Chinese older adults. Conclusions: Digital use can improve the health of Chinese older adults by promoting a healthy lifestyle through various means. The findings of this study have a substantial positive impact on bridging the digital divide that Chinese older adults face, as well as fostering the integration of digital use into their healthy lifestyles. [ABSTRACT FROM AUTHOR]

In this paper, 22 indexes are selected at three levels, including the informatization development level, the Internet development level, and the digital transaction development level, based on China's provincial panel data from 2011 to 2020, so as to build a digital economy development index system. Moreover, 28 basic indexes are selected from three aspects, including energy construction, energy production and energy consumption, so as to develop an energy economy development evaluation index system. The development index of China's digital economy and energy economy are measured by using the entropy weight method. The effect of the digital economy on the energy economy and its mechanism are tested by the static panel, the dynamic panel, and the mediating effect and regulating effect models. The results indicate that the digital economy has pronouncedly promoted the development of China's energy economy, and the development of the digital economy can have an effect on the rationalization of the industrial structure and then affect the development of the energy economy, and there is an intermediary effect. Moreover, the upgrading of the industrial structure is conducive to regulating the digital economy and facilitates the development of the energy economy. The development of the energy economy can be better promoted by focusing on the coordinated regional layout of the digital economy development, building a reliable energy commodity trading platform, and expediting the optimization and upgrading of the industrial structure. [ABSTRACT FROM AUTHOR]

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The study of yield gaps has become more complex, prompting the use of varied approaches to measure yields and a wider range of factors to explain these gaps. In the Global North, the focus is on precision farming, whereas in sub-Saharan Africa (SSA), a broader perspective is necessary due to pronounced variability in farmland conditions. While biogeophysical and management factors have been traditional focal points in yield gap analyses, socio-economic and institutional factors are increasingly recognized as significant, especially in SSA. This review synthesizes research from the past decade in SSA that integrates biogeophysical, management, farm characteristics, and institutional factors in yield gap discussions. The findings indicate a slow shift in including socio-economic factors, with management, particularly nutrient supply and crop management, remaining predominant. However, there is a growing trend towards methodological diversity, such as the adoption of remote sensing and GIS in recent years. Case studies from Kenya and Ghana, utilizing field surveys, interviews, panel data, and spatial analysis, highlight how a multifaceted approach can enhance our understanding of the various elements influencing maize yield gaps in SSA. [ABSTRACT FROM AUTHOR]

Purpose - This paper examines the effect of global economic policy uncertainty (EPU) on emerging markets (EMs) export flows. Methods - This paper uses a structural panel vector autoregression modeling approach to capture country interdependencies and the likelihood that EMs' responses are heterogeneous and dynamic. An unbalanced monthly panel data from 2003:01 to 2019:12 is used to estimate impulse responses and variance decompositions not only for the entire panel data but also for each EM. Findings - The results show that global EPU has a persistent and negative effect on exports, while foreign income and the exchange rate increase export volumes in EMs. Given the different responses of EMs to uncertainty shocks, the second-stage regression estimates suggest that greater sectoral export diversification in an EM can potentially reduce the unfavorable impact of global EPU on their export flows. Meanwhile, the higher technology content of exports leads to a multiplication of global EPU transmissions. Implication - These findings advance the literature by highlighting the importance of accounting for the transmission effect of global EPU in EMs by considering country heterogeneity. Originality - This is the sole paper examining the factors that mitigate or amplify GEPU impacts on export flows by estimating second-step ordinary least square equations. [ABSTRACT FROM AUTHOR]

Green fiscal policy is crucial for achieving green economic recovery and improving green total factor productivity (GTFP). Based on this, using panel data from 30 regions in China from 2009 to 2020, this paper analyzes the impact of green fiscal policy on GTFP. The results show that: (1) Green fiscal policy can improve GTFP, thus achieving green economic recovery. After a series of robustness tests, the conclusion is still valid; (2) Green fiscal policy can have a stronger improvement effect on GTFP in regions with high levels of both public environmental concerns and economic development; (3) Green fiscal policy mainly improves GTFP by promoting green technology innovation and upgrading industrial structure. These findings not only enrich the literature on green fiscal policy and green recovery but also serve as a reference for governmental departments. The government should promote green technology innovation through green fiscal policy and raise public environmental concerns to help achieve green economic recovery. [ABSTRACT FROM AUTHOR]

With the rapid development of the Internet and digital technology, digital infrastructure has become an important part of urban infrastructure. Many cities are enacting smart policies to promote the development of digital technology infrastructure. However, what are their mechanisms? There is currently a shortage of literature on the subject. This paper tried to solve this problem and used China as an example. Using panel data from cities in China, this paper used the spatial multiple-period difference-in-difference (SDID) method to investigate the impact of smart city policy (SCP) on digital infrastructure. First, we found that SCP significantly promotes the construction of digital infrastructure, with strong positive spatial spillover effects. This result remained valid after a series of rigorous robustness tests. Second, we discovered that the indirect effects of policy implementation outweigh the direct effects. Furthermore, smart city development enhances local government investment in digital infrastructure, attracts more high-tech enterprises, and consequently drives improvements in urban digital infrastructure levels. Lastly, we observed that the effectiveness of smart city policies is stronger in cities with good fiscal conditions, strong economic development, and a thriving digital economy. This research will not only enrich research on smart cities but also provide policy recommendations for strengthening digital infrastructure. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to enhance the understanding of the long-debated impact of board busyness within a new framework of firm efficiency in the selected developed and developing Asia–Pacific countries, by assessing the moderation of directors' education towards the relationship between board busyness and firm efficiency. The extant literature on board busyness demonstrates to a lack of clarification of the relationship between board busyness and firm efficiency. Design/methodology/approach: The sample for this paper comprises a panel data of 800 firms in a cross-country context of the selected developed and developing Asia–Pacific countries during the recent period of 2009–2015. This paper performs a non-parametric Data Envelopment Analysis to measure firm efficiency and panel regression analysis to examine the moderation of directors' education. Findings: This paper provides support for the busyness hypothesis by documenting that the busy boards are likely to reduce firm efficiency. Moreover, this paper renders support to the upper-echelons theory by demonstrating that the impact of board busyness on firm efficiency is likely to turn positive in the presence of directors' education. Practical implication: This paper highlights practical implication for managers especially in the Asia–Pacific region who seek to enhance firm efficiency, which is essential for firms in attaining the primary goal of profit maximization. Originality/value: This paper builds on the extant literature by providing a contemporary research path regarding the moderation of directors' education to explain the long-debated impact of board busyness within a new framework of firm efficiency, based on a recent and significant sample of Asia–Pacific countries. [ABSTRACT FROM AUTHOR]

Climate change is a very debated topic among academia, national and international institutions. Therefore, policies and tools for diminishing pollutant emissions are in place in a number of countries. Among them, taxation and renewable energy use seem to be among the most important. This paper aims at testing the impact of certain tools for climate change policy implementation, such as environmental taxes, renewable energy use, real productivity, employment rate taking into consideration the level of economic development and the GINI coefficient, on the greenhouse gas emissions in two important sectors of the economy: industry and commerce. Panel data analysis is used for a cluster of nine developing countries of the European Union that have the per capita GDP at purchasing power parity lower than 80% of the EU average, during 2008-2021. Similar to other studies, the results show a negative relationship between environmental taxation and greenhouse gas emissions in the industrial sector, and a positive one in the commercial sector. The latter is explained by the fact that transport, which is a main pollutant sector, is also one of the most difficult sectors to achieve green transition, given high associated costs. The analysis also shows that renewable energy use discourages the emissions of greenhouse gases, both in the industrial and commercial sectors, so that fostering investment in renewables is an important factor for addressing climate change and promoting a sustainable growth. [ABSTRACT FROM AUTHOR]

Globally, over the last few decades, countries have become increasingly decentralized but only recently did they recognize the need for incorporating a gender dimension into such policies. As a result, the relationship between fiscal decentralization, which implies delegating fiscal powers from national to subnational governments, and gender equality remains elusive. In this paper, I study the impact of expenditure decentralization on gender equality using panel data from the Organisation for Economic Co-operation and Development -- OECD countries between 2006 and 2021. I find that decentralization of expenditure increases gender equality in these countries. My results also demonstrate that unionization, the extent of a country's integration with the rest of the world, urbanization, population growth, and the state of democracy also matter for gender equality. This suggests that these factors should also accompany expenditure decentralization if the governments of these countries want to further promote gender equality through such public policies. [ABSTRACT FROM AUTHOR]

For a panel data linear regression model with both individual and time effects, empirical studies select the two-way random-effects (TWRE) estimator if the Hausman test based on the contrast between the two-way fixed-effects (TWFE) estimator and the TWRE estimator is not rejected. Alternatively, they select the TWFE estimator in cases where this Hausman test rejects the null hypothesis. Not all the regressors may be correlated with these individual and time effects. The one-way Hausman-Taylor model has been generalized to the two-way error component model and allow some but not all regressors to be correlated with these individual and time effects. This paper proposes a pretest estimator for this two-way error component panel data regression model based on two Hausman tests. The first Hausman test is based upon the contrast between the TWFE and the TWRE estimators. The second Hausman test is based on the contrast between the two-way Hausman and Taylor (TWHT) estimator and the TWFE estimator. The Monte Carlo results show that this pretest estimator is always second best in MSE performance compared to the efficient estimator, whether the model is random-effects, fixed-effects or Hausman and Taylor. This paper generalizes the one-way pretest estimator to the two-way error component model. [ABSTRACT FROM AUTHOR]

The objective of this research paper is to investigate the association between internal Corporate Governance (CG) mechanisms and stock price volatility in Egypt as an emerging market. The paper investigates the impact of ownership structure and board structure as internal CG mechanisms on stock price volatility. Data are analyzed using a two-way fixed effects model, a one-step dynamic panel data model, and a panel weighted least squares model. The study concluded that ownership concentration has a negative influence on volatility. Interestingly, an inverted U-shaped relationship between the percentage of ownership by the greatest shareholder and volatility is evidenced. Managerial ownership also showed a negative influence on volatility. As for board structure mechanisms, the findings show that both board size and frequency of board meetings negatively influence volatility, whereas board independence has a positive impact. [ABSTRACT FROM AUTHOR]

The establishment of government investment funds serves as a crucial measure for governments at all levels to leverage their certification role and financial resources in attracting social capital to support enterprise development. This paper empirically examines the guiding certification effect and governance supervision effect of government investment funds on enterprise value enhancement, utilising panel data from listed companies and government investment fund investment event data spanning the period from 2011 to 2021. The research findings reveal that government investment funds significantly enhance the value of recipient enterprises. By leveraging their guidance and certification effects and governance supervision effects, these funds alleviate financing constraints, actively participate in corporate governance, and ultimately enhance corporate value. The impact of government investment funds is negatively moderated by the age and size of the enterprise, indicating that the "invest in early-stage and small businesses" investment strategy yields better results in promoting value enhancement. Furthermore, heterogeneity analysis demonstrates that government investment funds have a more pronounced impact on the value of non-heavily polluting industries, enterprises located in the eastern and southern regions of China, and non-state-owned enterprises. This article expands the research scope of government investment funds at the micro level, providing empirical evidence and theoretical support for optimising government investment funding policies and fostering the development of a modern capital market with distinctive Chinese characteristics. [ABSTRACT FROM AUTHOR]

Sustainable agricultural development is a fundamental requirement and a crucial goal of modern agriculture. It is also a significant means of enabling farmers to increase their incomes. This paper analyses the evolutionary characteristics, regional differences and spatial convergence of the level of sustainable agricultural development using kernel density estimation, Dagum's Gini coefficient and the spatial convergence model based on panel data from 30 provinces in China from 2012 to 2021.The results show that: (1) At the level of development, the level of sustainable agricultural development at the national level and in the three major regions has shown an upward trend with fluctuations, with the average level of development in the eastern and central parts of the country higher than the national average, and in the western part of the country lower than the national average; however, the growth rate in the western part of the country is the highest among the three major regions. (2) In terms of evolutionary characteristics, the level of sustainable agricultural development in the country and the three major regions is characterised by spatial agglomeration, with varying degrees of polarisation. (3) In terms of regional differences, the Gini coefficients for the country as a whole, within the three major regions and between regions, generally show a downward trend, with interregional differences remaining the main source of overall differences. (4) In terms of spatial convergence, there is σ-convergence and β-convergence in the level of sustainable agricultural development across the country and the three major regions, and there is a positive spatial spillover effect. The conditional β convergence results show that the eastern region has the fastest rate of convergence. The above findings provide a scientific basis for the formulation of policies related to sustainable agricultural development in China. [ABSTRACT FROM AUTHOR]