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This paper exploits the information obtained in Annual Survey of Industries during 1999–2010 to gauge the degree of value-added owing to the use of traditional inputs (capital, labor, energy, indigenous materials, and imported materials) and advanced industrial production technology (services, information and communications technology, and pollution control equipment) in two main sub-sectors of the Pulp and Paper (P&P) industry in India categorized according to use of different types of raw material. The panel data econometric exercise confirms that the use of traditional inputs and advanced industrial technologies, and industry level determinants of the two sub-sectors have varied effects on value-added within them. These findings are important for promoting higher value-added production in different sectors within the resource-based industry. [ABSTRACT FROM AUTHOR]

The aim of the study is to explore various factors related to book leverage in Indian paper manufacturing industry using panel data analysis. The investigation has been carried out using panel data for a sample size of 19 companies in Indian paper industry listed on Bombay Stock Exchange (BSE) for the time period 2009-2018, both inclusive. The Hausman test is performed to find the best-fit model among various panel data regressions. It is observed from the results thatfirm size, interest coverage and operating expenses appear to be statistically significant in relation with book leverage of the firm. The finding reveals that on an average 95.45% of book leverage of the firm is explained by firm leverage one lag, mean industry book leverage and mean firm leverage for last 3 years. The analysis carried out assists the practitioners understand the factors affecting the capital structure in the paper industry and deliberate on factors which could be modified with an aim to move towards optimal capital structure decision. [ABSTRACT FROM AUTHOR]

The existence of the phenomenon of twin's deficits in South Asian countries has now become a common characteristic from the last few decades. Their reliance on debt both external and domestic to bridge thesedeficits has been increasing continuously which results in mounting public debt burden. The positive effect of public debt burden in resource-scarce countries occurs if the debt is utilized optimally and properly in income-generating activities that enhance the productive capacity of the borrower country to repay the debt obligations and its servicing charges. The negative effect of debt works through two main channels, namely "debt overhang" and "crowding out". The present study aims to investigate the implication of debt overhang and liquidity constraints hypothesis in South Asian countries i.e.Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. For this purpose, a hybrid model has been developed and panel data of these countries from 1990 to 2020 has been used. The study uses standard panel data estimation techniques for the estimation of the results. The results obtained confirm the existence of debt overhang and liquidity constraints hypothesis in South Asian economies. Similarly, domestic debt also offsets economic growth and investment. The study suggests that bridging the twin's deficits through public borrowings is not a safe option and efforts will be made to minimize the expenditures and increase the revenues by adopting better strategies. [ABSTRACT FROM AUTHOR]

In order to clarify which types of research is more conducive to improving innovation performance, we use the panel data of key universities in China from 2009 to 2017 for empirical research. The results show that basic research intensity is significantly positive correlated with innovation performance, while paper influence, patent novelty plus the interaction between paper influence and patent novelty are all playing a mediating role between basic research intensity and innovation performance. Furthermore, we use applied research intensity, experimental development intensity and provincial panel data for variables substitution and sample subdivision to carry out robustness test, clarifying the functional mechanism and the heterogeneity of boundary conditions between different types of research intensity and innovation performance. Relevant conclusions are of great theoretical and practical value for optimising the allocation of S&T resources and enriching the theoretical system of innovation research. [ABSTRACT FROM AUTHOR]

Carrying out digital innovation is the main channel for enterprises to stimulate internal vitality and enhance core competitiveness in the digital economy era. Based on the Panel data of A‐share listed high‐tech enterprises from 2011 to 2020, this paper integrates digital strategy, executive incentive, and financial flexibility into the same analytical framework from an inter‐organizational perspective and uses the random effect Tobit model to study their direct or indirect effects on digital innovation. The research results indicate that digital strategy has a significant positive impact on digital innovation, while the indirect effect of diversified management weakens the positive impact of digital strategy, specifically manifested as the masking effect; executive incentives have a significant positive impact on digital innovation, while equity concentration negatively moderates the impact of executive incentives on digital innovation; financial flexibility has an inverted U‐shaped impact on digital innovation. The research results provide a theoretical basis and practical inspiration for the implementation of digital innovation within enterprises. [ABSTRACT FROM AUTHOR]

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 replication study tests the repeatability of the study conducted by Adelaja and George (2019a) on the relation between Boko Haram related events of armed conflict and agricultural land use decisions. For the computational reproduction of the original results, we used the same datasets and the same methodological approach. Yet, our findings substantially deviate from the results in the original study. To test the robustness of our own results, we applied comprehensive robustness checks, such as using a different measure for armed conflict, including an additional survey wave of the GHS panel data, and applying two different timewise merging procedures. The results of the robustness checks were very sensitive to changes in the underlying data. Hence, we question the internal validity of the study's findings and argue that there is most likely a more general mismatch between the data, the methodology and the research questions. The bottom-line of this study is not that there are computable differences between Adelaja and George (2019a) and our estimations, but rather that caution should be taken in deriving policy implications from Adelaja and George (2019a) as their results lack internal validity. [ABSTRACT FROM AUTHOR]

Improving carbon emission efficiency is crucial for achieving carbon peak and carbon neutrality. This paper analyzes the carbon emission efficiency of Chinese cities using panel data from 275 prefecture-level cities between 2006 and 2020. The super-efficiency SBM (undesirable slacks-based measurement) model of undesired output, combined with kernel density estimation and exploratory data analysis, is employed. This study finds, firstly, from 2006 to 2020, the average efficiency of carbon emissions in Chinese cities declined from 0.53 to 0.48, indicating a downward trend. Secondly, from a temporal perspective, the level of dispersion in urban carbon emission efficiency has become increasingly distinct over time, coupled with a decrease in polarization. Thirdly, in terms of spatial analysis, urban carbon emission efficiency in China shows a positive correlation in a global context. In terms of local spatial correlation, it primarily exhibits high-high and low-low clusters, with a few instances of low–high and high-low clusters. Finally, based on the research findings, this paper proposes suggestions to improve urban carbon emission efficiency. [ABSTRACT FROM AUTHOR]

Highlights: [•] We explore which factors affect recovery and utilization of recycled paper (RP). [•] We use panel data between 1992 and 2010 for a sample of 70 countries. [•] Both economic and demographic factors impact RP recovery and utilization. [•] Environmental awareness increases the recovery of RP in high-income countries only. [•] The motives for recycling depend on the income level of a country. [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]

Based on the panel data of 277 cities in China from 2011 to 2018, this paper constructs the digital economy index and the green economy efficiency index. The research found the following: first, the digital economy has significantly improved the efficiency of the green economy in the region. Second, the digital economy has a greater impact on the efficiency of the green economy in the eastern region and large cities than in the central and western regions and small cities. Third, technological innovation is an important way for digital economy to improve the efficiency level of green economy. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to investigate R&D investments in family firms. Design/methodology/approach: The socio-emotional wealth (SEW) perspective, considered as a dominant paradigm in the family business field, is the theoretical framework used to report different behaviors ascertained within family firms. This paper focuses on two dimensions of the SEW, namely, family control and influence and family identity. A suspected moderating role played by the firm's life cycle stage on the dimensions is also investigated using panel data. To analyze the results, this paper uses the Smart PLS software on secondary data collected for 76 German family firms. Findings: The empirical results reveal a negative influence of SEW on R&D investments. The prominent effect of the family control and influence dimension on R&D is higher in the first part of a firm life cycle. Research limitations/implications: The analysis of this study is subject to several caveats. First, to measure the R&D investment, this paper used R&D intensity computed as the total annual R&D expenses by total sales. Except for the fact that the use of proxies received several criticizes from scholars (Berrone et al., 2012) claiming how they do not directly relate to the essence of the dimensions measured. Second, this paper used two out of five FIBER dimensions only in the study. This paper took the right direction, but still, the complexity of SEW may not be fully captured following this approach (Berrone et al., 2012). Originality/value: This study could be considered as an important extension of prior research investigating R&D in family firms. The authors provide a valid empirical construct, the FIBER scale, to capture non-monotonic behaviors in family firms and an enlargement of the family firms and innovation management field of research. [ABSTRACT FROM AUTHOR]

The aim of this paper is to explore whether and how urban road transport (URT) development affects haze pollution. One of the innovations of this paper is that URT development is measured by road accessibility with novel digital elevation model datasets, which have been used by few scholars. The endogenous problem caused by revere causality issue in the relationship between URT development and haze pollution is also considered. Based on the panel data of prefecture-level cities of Yangtze River Delta (YRD) region in China from 2011 to 2018, this paper uses long-lagged values of URT development as the instrumental variable, employing the two-stage least squares (2SLS) method. The study shows that URT development leads to an increase of haze pollution. Moreover, mechanism tests based on moderating and mediating models support the finding that decreasing haze pollution resulted from better connection effects, while rising agglomeration effects tend to bring about increasing haze pollution, and the latter effect is larger in magnitude than the former. Current URT development may have long-term negative consequences for livability of YRD cities, and urban decision makers should reconsider the effectiveness of the current road transport investment and construction. [ABSTRACT FROM AUTHOR]

From the perspective of transportation infrastructure upgrading, this paper discussed the motivation behind industrial firms' pollution transfer to provincial borders. Using a panel data set of 41 cities in China's Yangtze River Delta from 2005 to 2020, this paper empirically tested the impact of intracity and intercity transportation infrastructure upgrading on pollution transfer through a two-way fixed-effects model. The results revealed the following: First, intracity transportation infrastructure upgrading forces local industrial firms to transfer pollution outward. Second, intercity transportation infrastructure upgrading accelerates pollution transfer to provincial borders. Third, in the central region, intracity transportation infrastructure upgrading does not significantly impact local pollution transfer. Intercity transportation infrastructure upgrading can aggravate border pollution, whether in the eastern or central regions. Furthermore, border pollution is more serious in the central region. The results have important practical significance for improving China's regional development planning and environmental governance system. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to integrate insights from the behavioral theory of the firm and the dynamic capabilities perspective to explain how the historical and social attainment discrepancies motivate firms to change. Specifically, this paper proposes that a negative historical attainment discrepancy encourages the firm to engage in strategic change to solve its performance problems. In contrast, this paper advanced that a positive social attainment discrepancy motivates strategic change as a mechanism to bolster the firm's position within the industry. Further, this paper integrated the moderating effects of industry dynamism and industry munificence. Design/methodology/approach: This paper tests hypotheses using panel data on 2,435 US public firms over the years from 1996 to 2018. This paper uses a fixed-effects regression model to empirically test these hypotheses. Findings: This paper finds empirical support for the effects of both the negative historical attainment discrepancy and the positive social attainment discrepancy on the firm's tendency to engage in strategic change. As for the hypothesized moderating effects, this paper finds that industry munificence accentuated the effects of both attainment discrepancies on the firm's tendency to engage in strategic change. However, the results do not support the hypothesized moderating effect of industry dynamism on either of these attainment discrepancies. Originality/value: This paper contributes to the research on the separate effects of historical and social comparisons within the context of strategic change. Further, the paper bolsters our understanding of how performance feedback increases the firm's tendency to change. Finally, the paper integrates theoretical views from the behavioral theory of the firm and the dynamic capabilities perspective on how socially high-performing firms may build and sustain their competitive advantage through organizational change. [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]

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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]

Online crowdfunding has become an important fundraising channel for medical care. Yet, individuals in need face numerous challenges in meeting their fundraising goals. To improve fundraising, individuals may use project updates to evoke donors' sympathy and secure donations. Informed by the sympathy bias literature, this paper conceptualizes two important but distinct aspects of project updates—positive sentiment and negative sentiment—and hypothesizes their individual and relative impacts on the donation amount of a crowdfunding project. In addition, this paper explores moderating effects of social endorsements on the influence of update sentiment. To test our hypotheses, we conducted two studies. Study 1 examined unique project-day panel data from 1,467 projects on a leading medical crowdfunding platform. Results reveal that both positive and negative update sentiment positively affect the donation amount of a crowdfunding project, but negative updates have a greater effect. Further, endorsements by strong ties and weak ties attenuate the positive effects of update sentiment. Study 2 was a controlled, randomized experiment that corroborated findings from Study 1, established the causality of observed effects, and confirmed the mediating effects of sympathy. The findings of this paper underscore the role of sympathy in enhancing online charitable crowdfunding to individual donors and show project updates with positive or negative sentiment to be potent mechanisms to boost donations. Furthermore, the substitution effect of social endorsement on donation amount also adds nuance to our knowledge suggesting that a proper combination of various information can better help improve crowdfunding performance. Platform operators and fundraisers should prioritize project update sentiment to enhance online charitable crowdfunding success. [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]

Energy consumption has risen much more while the economy has expanded so quickly. As a result, significant environmental contamination is created, which causes public worry. Under this background, enhancing energy efficiency and lowering pollution is particularly crucial for the fulfillment of sustainable economic development. Efficiency evaluation for energy and environment is an effective measure to achieve both energy saving and emission reduction as well as sustainable social development. In this paper, energy and environmental efficiency consists of energy utilization efficiency and pollution treatment efficiency. An improved two‐stage DEA model is proposed, which takes into account how stochastic and environmental factors affect decision‐making units (DMUs). Finally, the author analyses the panel data of 15 cities in Southwest China from 2010 to 2018, which proves the feasibility and effectiveness of this study. The results show Southwest China's poor energy and environmental efficiency as well as the stark differences among its cities. The scientific value revealed by this paper is as follows: (1) for the study of energy and environmental efficiency, this paper is more targeted at the differences between cities and (2) using an improved two‐stage DEA model to consider the effects of stochastic factors on DMUs. [ABSTRACT FROM AUTHOR]

Economic literature suggests that banks change their dividend payouts for three main reasons. They may be willing to signal good future profitability to shareholders to address information asymmetry, or use dividends to mitigate the agency costs, or could come under pressure from prudential supervisors and regulators to retain earnings. The COVID-19 pandemic led to introduction of sector-wide recommendation by regulators to suspend dividend payouts in view of prevailing large uncertainty. Using a panel data approach for two samples of listed and unlisted European banks, this paper provides evidence that, over a decade and a half preceding the pandemic, bank dividend payouts were adjusted in line with the three motivations found in the literature. The results are robust to selection of alternative variables representing these motivations. Banks are however found not to discount expectations about future economic conditions or their own profitability when making payouts. Simulations shown in the paper suggest that, in the absence of supervisory recommendations, banks would likely have reduced the payouts only slightly in the first year of the pandemic. [ABSTRACT FROM AUTHOR]

Introduction: Although rural industrial integration is a crucial pathway for advancing the revitalization of rural economies, it continues to grapple with financial challenges. This paper delves into the theoretical underpinnings of how capital marketization influences rural industrial integration. Methods: Using panel data from China's provinces spanning the years 2010 to 2020, a comprehensive index of rural industrial integration is constructed from the vantage point of a new development paradigm. The paper employs the system GMM method to empirically investigate the impact of capital marketization on rural industrial integration and to dissect its transmission mechanisms. Additionally, a threshold regression model is applied to explore the specific patterns of the nonlinear relationship between the two variables. Results and discussion: The study's findings reveal that the degree of rural industrial integration is significantly and positively influenced by its previous level, demonstrating an accumulative effect wherein the prior level of integration lays the groundwork for future advancements. The influence of capital marketization on the degree of rural industrial integration is characterized by a non-linear relationship, adhering to a "U-shaped" curve. Below the inflection point, the development of capital marketization is detrimental to rural industrial integration, whereas above this point, it exerts a positive influence. Currently, China's overall level of capital marketization is positioned beyond the inflection point, indicating substantial potential for enhancing industry integration in rural China. In addition, the study indicates that at very low levels of economic development, capital marketization does not affect the development of rural industries. As the economic development level rises, so does the impact of capital marketization on rural industrial integration. [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]

Using the South African Revenue Service and National Treasury firm-level panel data for 2009–2017, this paper investigates how trade related to the global value chain (GVC) affects the performance of manufacturing firms in South Africa. The paper uses extant classifications of internationally traded products to identify different categories of GVC-related products and compares the productivity premium of international traders for these different categories. Also, the paper investigates possible differences in learning-by-exporting effects across the identified categories of GVC-related products by estimating the effect of exporting before and after entry into foreign markets. The results confirm that GVC-related trade is associated with a higher productivity premium compared with traditional trade. However, within the categories of exporters, only the firms that trade in GVC-related products and simultaneously engage in research and development in the post-entry periods appear to learn from exporting. Our results underscore the gains of GVC integration in terms of the associated productivity premia and highlight the need for GVC-integrated firms to invest in building technological capacity. [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]

In the face of complex and changeable uncertain environments, corporate resilience is the crucial foundation for survival and sustainable development, and enhancing corporate resilience becomes an important goal for governments. In this context, this paper investigates the impact of government subsidies, as a typical government tool, on corporate resilience in crises. Based on the panel data of 2315 listed companies in China Shanghai and Shenzhen A-share market during the COVID-19 pandemic, this paper finds that: (1) government subsidies received before and during the crises can both enhance corporate resilience in crises. (2) Government subsidies enhance corporate resilience by alleviating financial constraints and boosting confidence. (3) The crises improve the efficiency of subsidies used by corporates, resulting in the enhancement of subsidies received during the crises being more pronounced than those received before the crises. This paper deepens the understanding of government subsidies' roles in crises, enriches the literature on government subsidies and corporate resilience, and provides a reference for improving government subsidies policy and enhancing corporate resilience. The government should increase government subsidies to mitigate the negative impact of uncertainty shocks on corporates and improve corporates' ability to respond to risks, and pay attention to the timing of subsidies to maximize the efficiency of government subsidies at the same time. [ABSTRACT FROM AUTHOR]

Background New Zealand has a goal of becoming a smokefree nation by the year 2025. Smoking prevalence in 2012 was 17%, but is over 40% for M_aori (indigenous New Zealanders). We forecast the prevalence in 2025 under a business-as-usual (BAU) scenario, and determined what the initiation and cessation rates would have to be to achieve a <5% prevalence. Methods A dynamic model was developed using Census and Health Survey data from 1981 to 2012 to calculate changes in initiation by age 20 years, and net annual cessation rates, by sex, age, ethnic group and time period. Similar parameters were also calculated from a panel study for sensitivity analyses. ‘Forecasts' used these parameters, and other scenarios, applied to the 2011-2012 prevalence. Findings Since 2002-2003, prevalence at age 20 years has decreased annually by 3.1% (95% uncertainty interval 0.8% to 5.7%) and 1.1% (−1.2% to 3.2%) for non-M_aori males and females, and by 4.7% (2.2% to 7.1%) and 0.0% (−2.2% to 1.8%) for M_aori, respectively. Annual net cessation rates from the dynamic model ranged from −3.0% to 6.1% across demographic groups, and from 3.0% to 6.0% in the panel study. Under BAU, smoking prevalence is forecast to be 11% and 9% for non-M_aori males and females by 2025, and 30% and 37% for M_aori, respectively. Achieving <5% by 2025 requires net cessation rates to increase to 10% for non-M_aori and 20% for M_aori, accompanied by halving or quartering of initiation rates. Conclusions The smokefree goal of <5% prevalence is only feasible with large increases in cessation rates. [ABSTRACT FROM AUTHOR]

Abstract: Since heterozygous familial hypercholesterolemia (HeFH) is a disease that exposes the individual from birth onwards to severe hypercholesterolemia with the development of early cardiovascular disease, a clear consensus on the management of this disease in young patients is necessary. In Belgium, a panel of paediatricians, specialists in (adult) lipid management, general practitioners and representatives of the FH patient organization agreed on the following common recommendations. [1.] Screening for HeFH should be performed only in children older than 2 years when HeFH has been identified or is suspected (based on a genetic test or clinical criteria) in one parent. [2.] The diagnostic procedure includes, as a first step, the establishment of a clear diagnosis of HeFH in one of the parents. If this precondition is satisfied, a low-density-lipoprotein cholesterol (LDL-C) level above 3.5mmol/L (135mg/dL) in the suspected child is predictive for differentiating affected from non-affected children. [3.] A low saturated fat and low cholesterol diet should be started after 2 years, under the supervision of a dietician or nutritionist. [4.] The pharmacological treatment, using statins as first line drugs, should usually be started after 10 years if LDL-C levels remain above 5mmol/L (190mg/dL), or above 4mmol/L (160mg/dL) in the presence of a causative mutation, a family history of early cardiovascular disease or severe risk factors. The objective is to reduce LDL-C by at least 30% between 10 and 14 years and, thereafter, to reach LDL-C levels of less than 3.4mmol/L (130mg/dL). Conclusion: The aim of this consensus statement is to achieve more consistent management in the identification and treatment of children with HeFH in Belgium. [Copyright &y& Elsevier]

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]

Radical innovation is necessary for firms to transform existing markets or create new ones, which has critical impact on firm performance. Therefore, there is a need to explore how radical innovation can be successfully achieved. Entrepreneurial orientation reflects a firm's willingness to be innovative, proactive and risk-taking, which has been recognized as a key factor contributing to firm innovation. However, the specific focus on the relationship between entrepreneurial orientation and radical innovation is very limited. This paper therefore investigates how entrepreneurial orientation affects radical innovation by considering the contingency effects of board characteristics. Using the panel data of listed manufacturing firms in China from 2013 to 2019, this paper found that entrepreneurial orientation has a significant positive impact on radical innovation. Furthermore, different board characteristics play asymmetric moderating roles in that relationship in such a way that CEO duality and board independence play positive moderating roles, while board ownership and board size play negative moderating roles. This paper contributes to the entrepreneurial orientation literature by providing a finer-grained understanding of the role of entrepreneurial orientation on radical innovation. This paper also contributes to the corporate governance literature by revealing the asymmetric contingency effects of different board characteristics. [ABSTRACT FROM AUTHOR]

The extractive industry typically contributes limited direct employment in host countries, prompting some nations to consider export restrictions on raw materials to enhance domestic job opportunities. However, scholarly opinions on the efficacy of these policies vary widely. This study addresses this gap by utilizing an extensive dataset spanning over a decade and encompassing diverse countries. Employing a fixed-effect Ordinary Least Square (OLS) regression model with panel data from 74 countries from 2009 to 2021, this paper shows that raw material export restrictions do not affect employment rates. This fact challenges the prevailing notion that export restrictions inherently boost domestic employment. Consequently, a more comprehensive strategy, including economic diversification, technological investment, and alternative job creation measures alongside export controls, is essential to effectively address employment challenges within the extractive sector. [ABSTRACT FROM AUTHOR]

Industrialization and urbanization are significant facets of modernization. The asynchronous development of the two is closely related to the agglomeration of producer services. This paper constructed an asynchrony index to describe the development gap between industrialization and urbanization. Various spatial weight matrices were introduced to test the spatial autocorrelation of the asynchrony index. Applying spatial econometric models, we explored the impact of agglomeration of producer services on the asynchrony index from two aspects: diversified agglomeration (DA) and specialized agglomeration (SA). The following conclusions are drawn from the empirical findings, which are based on data from 31 Chinese provinces between 2008 and 2019: (1) the asynchrony of industrialization and urbanization exhibits the spatial autocorrelation increasing over time; (2) SA exacerbates the asynchrony, while DA alleviates the asynchrony; (3) SA exerts greater impacts in highly industrialized and urbanized regions, while DA exerts greater effects in lowly industrialized and urbanized regions; and (4) agricultural dependence and infrastructure level weaken the impacts of SA and strengthen the impacts of DA. Income level weakens the impacts of both SA and DA. The results of this study provide a reference for policymakers to adjust the industrial layout in a targeted manner to regulate the asynchronous nature of modernization development. Peace and development are the themes of the world today. Most developing countries are experiencing or about to experience industrialization and urbanization. The world reality indicates that the two are not always synchronized in countries due to resource and cultural differences. Producer services not only improve agricultural and industrial production efficiency but also bring population agglomeration effects like other industries. In the era of informatization, the producer services exert a profound impact on industrialization and urbanization through two agglomeration modes. This technical paper quantifies the asynchrony between industrialization and urbanization using data from 31 provinces in China and verifies the opposite effects of two agglomeration modes on asynchrony. In cities with different levels of industrialization and urbanization, cities with higher or lower agricultural dependence, and cities with higher or lower infrastructure levels, the impact direction of the two agglomeration modes shows stability, while the magnitude varies. Cities with higher per capita income tend to develop into consumer cities, where industrialization should lag behind urbanization. [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]