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29 results on '"Geng, Chengxuan"'

8. Does transportation infrastructure development affect enterprise R&D investment? The case of city subway operation in China.

Author

Wei, Jiahui, Geng, Chengxuan, and Zhang, Hongying

Abstract

While transportation infrastructure can accelerate innovation, no research has yet explored the link between intra-city subway operation and innovation. This study responds to this gap in the literature. The rapid, large-scale development of China’s subway system can serve as a ‘quasi-natural experiment’. Based on panel data on listed manufacturing companies from 2008 to 2020, this study employs the time-varying difference-in-differences method to explore the impact of subway operation on enterprise R&D investment and the impact’s heterogeneity under different enterprise characteristics. The results show that new subways have increased enterprise R&D investment and that the subway’s positive impact on R&D investment is more significant in enterprises with high employee compensation, non-state-owned enterprises, and large enterprises. Moreover, subway operation promotes enterprise R&D investment by attracting tech talent and promoting infrastructure convenience. [ABSTRACT FROM AUTHOR]

Published
2024
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10. How does green digitalization affect environmental innovation? The moderating role of institutional forces.

Author

Guo, Qiaozhe, Geng, Chengxuan, and Yao, Nengzhi

Subjects
TECHNOLOGICAL innovations, DIGITAL transformation, GREEN technology, DIGITAL technology, SUSTAINABLE development, SUSTAINABILITY, INTERVENTION (Federal government)
Abstract

Environmental innovation is essential to achieving environmental and economic sustainability. This study aims to explain whether and under what conditions green digitalization may foster firm environmental innovation. Using a database of Chinese listed firms matched with provincial‐level digitalization information from 2012 to 2018, we find that green digitalization significantly increases environmental innovation, and this effect can be achieved through enhancing R&D investment. In addition, the positive effect of green digitalization on environmental innovation is moderated by formal and informal institutional forces. We establish government support (in the form of financial investment in building digital infrastructure), government intervention, and cyberculture as the theoretically important moderators. Our findings contribute to digitalization research, institutional theory, and the literature on environmental innovation and provide important practical implications for managers and policymakers seeking to improve environmental sustainability through digital transformation. [ABSTRACT FROM AUTHOR]

Published
2023
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12. Driving factors of capital allocation efficiency in the artificial intelligence industry in China– the perspective of a financing ecosystem

Author

Geng, Chengxuan, Xu, Ke, and Wei, Xiaoshu

Abstract

ABSTRACTBased on a comprehensive consideration of financing ecological factors, this study constructs a financing ecosystem and capital allocation efficiency model to simulate the driving factors of capital allocation efficiency in the artificial intelligence (AI) industry. Our findings show that the capital allocation efficiency of the AI industry is expected to gradually decrease. Among the various components of the financing ecosystem, capital allocation efficiency is most sensitive to human capital quality, followed by the development of banking, marketisation level, degree of government intervention, and opening-up level. Finally, suggestions for optimising the financing ecosystem and improving capital allocation efficiency are presented.

Published
2023
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14. Does CSR governance matters for corporate value creation: exploring the nexus between corporate sustainability governance and investment efficiency of acquirers in Pakistan

Author

Adeela Rustam and Geng Chengxuan

Subjects
Health, Toxicology and Mutagenesis, Environmental Chemistry, General Medicine, Pollution
Abstract

This study examines the potential effects of corporate sustainability governance on the investment efficiency of asset acquirers. Using secondary data gathered from the annual reports of sample firms and the global reporting initiatives data repository from 1991-2021, the study results indicate that the provision of sustainable governance better facilitates the efficient allocation of capital and acquirer's value creation. Subject to the individual effects, we find that the economic sustainability disclosure, social sustainability disclosure, and environmental sustainability disclosure have positive and significant effect on the investment efficiency of acquirers that increases the competitiveness of a company's investment. Outcomes further revealed that market risk disclosure and shareholder activism have a strong moderating impact on the relationship between sustainability governance and acquirers efficiency, which significantly complements the acquirer's value. The study findings put forward policy directions that the enforcement of persistent sustainability governance practices has more potential to maximize acquirer's investment.

Published
2022

27. Application of Fuzzy Bilateral Boundary DEA Model in Selection of Energy-Saving and Environmental Protection Enterprises.

Author

GENG Chengxuan, WANG Qiong, and Haitao, E.

Subjects
DATA envelopment analysis, ENVIRONMENTAL protection, VENTURE capital, CAPITAL investments, COEFFICIENTS (Statistics)
Abstract

The energy - saving and environmental protection industry has vast development space and huge market increment in China. Selecting appropriate energy-saving and environmental protection enterprises is one of the important decisions of venture capital investment. In the paper, a fuzzy bilateral boundary data envelopment analysis (DEA)model with optimistic coefficient is proposed to select those companies with high financing efficiencies. Based on the characteristics of enterprise financing, undesirable outputs and dual-role factors are considered in the proposed model. The results show that the fifth enterprise has high comprehensive financing efficiencies and always ranks the first when the optimistic coefficients are 0.2, 0.5 and 0.8, respectively. In addition, most energy-saving and environmental protection enterprises have not efficient financing efficiencies. There is still much space for improvement. [ABSTRACT FROM AUTHOR]

Published
2019
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28. Empirical analysis of private listed companies' debt financing and business performance in Jiangsu Province

Author

Wang Hairong, Jiang Yijie, and Geng Chengxuan

Subjects
Finance, Capital structure, business.industry, media_common.quotation_subject, Financial system, External debt, Gearing ratio, Debt-to-equity ratio, Debt, Debt ratio, Internal debt, Debt levels and flows, business, media_common
Abstract

According to the theory of capital structure, this paper uses principal component analysis and linear regression analysis to study the relationship between the debt characteristics of the private listed companies in Jiangsu Province and their business performance. The results show that the average debt ratio of the 29 private listed companies selected from the sample is lower. And it is found that for the sample whose debt ratio is lower than 80%, its debt ratio is negatively related to corporate performance, while for the sample whose debt ratio is beyond 80%, the relationship of debt financing and enterprise performance shows the different trends. The conclusions reflect the drawbacks may exist that the debt ratio is relatively low and having not take full advantage of debt governance effect of the private listed companies in Jiangsu Province.

Published
2013

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