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Search Results (1,186)

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21 pages, 3733 KiB  
Article
DNO-RL: A Reinforcement-Learning-Based Approach to Dynamic Noise Optimization for Differential Privacy
by Guixin Wang, Xiangfei Liu, Yukun Zheng, Zeyu Zhang and Zhiming Cai
Electronics 2025, 14(15), 3122; https://doi.org/10.3390/electronics14153122 - 5 Aug 2025
Abstract
With the globalized deployment of cross-border vehicle location services and the trajectory data, which contain user identity information and geographically sensitive features, the variability in privacy regulations in different jurisdictions can further exacerbate the technical and compliance challenges of data privacy protection. Traditional [...] Read more.
With the globalized deployment of cross-border vehicle location services and the trajectory data, which contain user identity information and geographically sensitive features, the variability in privacy regulations in different jurisdictions can further exacerbate the technical and compliance challenges of data privacy protection. Traditional static differential privacy mechanisms struggle to accommodate spatiotemporal heterogeneity in dynamic scenarios because of the use of a fixed privacy budget parameter, leading to wasted privacy budgets or insufficient protection of sensitive regions. This study proposes a reinforcement-learning-based dynamic noise optimization method (DNO-RL) that dynamically adjusts the Laplacian noise scale by real-time sensing of vehicle density, region sensitivity, and the remaining privacy budget via a deep Q-network (DQN), with the aim of providing context-adaptive differential privacy protection for cross-border vehicle location services. Simulation experiments of cross-border scenarios based on the T-Drive dataset showed that DNO-RL reduced the average localization error by 28.3% and saved 17.9% of the privacy budget compared with the local differential privacy under the same privacy budget. This study provides a new paradigm for the dynamic privacy–utility balancing of cross-border vehicular networking services. Full article
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18 pages, 728 KiB  
Article
Digital Twins and Cross-Border Logistics Systems Risk Management Capability: An Innovation Diffusion Perspective
by Shuyan Li, Pengwei Jin, Saier Su, Jinge Yao and Qiwei Pang
Systems 2025, 13(8), 658; https://doi.org/10.3390/systems13080658 - 4 Aug 2025
Abstract
This study ground in the Innovation Diffusion Theory (IDT), explores the value of digital twin technology in cross-border logistics risk management. Using structural equation modeling, it examines how five innovation characteristics of digital twins—relative advantage, compatibility, complexity, trialability, and observability—influence risk management capabilities, [...] Read more.
This study ground in the Innovation Diffusion Theory (IDT), explores the value of digital twin technology in cross-border logistics risk management. Using structural equation modeling, it examines how five innovation characteristics of digital twins—relative advantage, compatibility, complexity, trialability, and observability—influence risk management capabilities, specifically robustness and resilience, within cross-border logistics systems. The findings reveal that relative advantage, compatibility, trialability, and observability significantly enhance both robustness and resilience, while complexity does not show a significant negative impact. Furthermore, the study confirms that improvements in risk management capabilities contribute positively to competitive performance. This research not only enriches the theoretical understanding of digital twin applications in cross-border logistics but also offers valuable insights for practical implementation by enterprises. Full article
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25 pages, 2069 KiB  
Article
How Does Port Logistics Service Innovation Enhance Cross-Border e-Commerce Enterprise Performance? An Empirical Study in Ningbo-Zhoushan Port, China
by Weitao Jiang, Hongxu Lu, Zexin Wang and Ying Jing
J. Theor. Appl. Electron. Commer. Res. 2025, 20(3), 188; https://doi.org/10.3390/jtaer20030188 - 1 Aug 2025
Viewed by 175
Abstract
The port logistics service innovation (PLSI) is closely associated with cross-border e-commerce (CBEC) enterprise performance, given that the port, as the spatial carrier and the joint point of goods, information, customs house affairs, etc., is essentially a key node of the CBEC logistics [...] Read more.
The port logistics service innovation (PLSI) is closely associated with cross-border e-commerce (CBEC) enterprise performance, given that the port, as the spatial carrier and the joint point of goods, information, customs house affairs, etc., is essentially a key node of the CBEC logistics chain. However, the influence mechanism of PLSI on CBEC enterprise performance has still not yet been elaborated by consensus. To fill this gap, this study aims to figure out the effect mechanism integrating the probe into two variables (i.e., information interaction and environmental upgrade) in a moderated mediation model. Specifically, this study collects questionnaire survey data of logistics enterprises and CBEC enterprises in the Ningbo-Zhoushan Port of China by the Bootstrap method in the software SPSS 26.0. The results show the following: (1) PLSI can positively affect the CBEC enterprise performance; (2) information interaction plays an intermediary role between PLSI and CBEC enterprise performance; and (3) environmental upgrade can not only positively regulate the relationship between information interaction and CBEC enterprise performance, but also enhance the mediating role of information interaction with a moderated intermediary effect. Full article
(This article belongs to the Topic Data Science and Intelligent Management)
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29 pages, 540 KiB  
Systematic Review
Digital Transformation in International Trade: Opportunities, Challenges, and Policy Implications
by Sina Mirzaye and Muhammad Mohiuddin
J. Risk Financial Manag. 2025, 18(8), 421; https://doi.org/10.3390/jrfm18080421 - 1 Aug 2025
Viewed by 370
Abstract
This study synthesizes the rapidly expanding evidence on how digital technologies reshape international trade, with a particular focus on small and medium-sized enterprises (SMEs). Guided by two research questions—(RQ1) How do digital tools influence the volume and composition of cross-border trade? and (RQ2) [...] Read more.
This study synthesizes the rapidly expanding evidence on how digital technologies reshape international trade, with a particular focus on small and medium-sized enterprises (SMEs). Guided by two research questions—(RQ1) How do digital tools influence the volume and composition of cross-border trade? and (RQ2) How do these effects vary by countries’ development level and firm size?—we conducted a PRISMA-compliant systematic literature review covering 2010–2024. Searches across eight major databases yielded 1857 records; after duplicate removal, title/abstract screening, full-text assessment, and Mixed Methods Appraisal Tool (MMAT 2018) quality checks, 86 peer-reviewed English-language studies were retained. Findings reveal three dominant technology clusters: (1) e-commerce platforms and cloud services, (2) IoT-enabled supply chain solutions, and (3) emerging AI analytics. E-commerce and cloud adoption consistently raise export intensity—doubling it for digitally mature SMEs—while AI applications are the fastest-growing research strand, particularly in East Asia and Northern Europe. However, benefits are uneven: firms in low-infrastructure settings face higher fixed digital costs, and cybersecurity and regulatory fragmentation remain pervasive obstacles. By integrating trade economics with development and SME internationalization studies, this review offers the first holistic framework that links national digital infrastructure and policy support to firm-level export performance. It shows that the trade-enhancing effects of digitalization are contingent on robust broadband penetration, affordable cloud access, and harmonized data-governance regimes. Policymakers should, therefore, prioritize inclusive digital-readiness programs, while business leaders should invest in complementary capabilities—data analytics, cyber-risk management, and cross-border e-logistics—to fully capture digital trade gains. This balanced perspective advances theory and practice on building resilient, equitable digital trade ecosystems. Full article
(This article belongs to the Special Issue Modern Enterprises/E-Commerce Logistics and Supply Chain Management)
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25 pages, 1658 KiB  
Article
Energy-Related Carbon Emissions in Mega City in Developing Country: Patterns and Determinants Revealed by Hong Kong
by Fei Wang, Changlong Sun, Si Chen, Qiang Zhou and Changjian Wang
Sustainability 2025, 17(15), 6854; https://doi.org/10.3390/su17156854 - 28 Jul 2025
Viewed by 215
Abstract
Cities serve as the primary arenas for achieving the strategic objectives of “carbon peak and carbon neutrality”. This study employed the LMDI method to systematically analyze the evolution trend of energy-related carbon emissions in Hong Kong and their influencing factors from 1980 to [...] Read more.
Cities serve as the primary arenas for achieving the strategic objectives of “carbon peak and carbon neutrality”. This study employed the LMDI method to systematically analyze the evolution trend of energy-related carbon emissions in Hong Kong and their influencing factors from 1980 to 2023. The main findings are as follows: (1) Hong Kong’s energy consumption structure remains dominated by coal and oil. Influenced by energy prices, significant shifts in this structure occurred across different periods. Imported electricity from mainland China, in particular, has exerted a promoting effect on the optimization of its energy consumption mix. (2) Economic output and population concentration are the primary drivers of increased carbon emissions. However, the contribution of economic growth to carbon emissions has gradually weakened in recent years due to a lack of new growth drivers. (3) Energy consumption intensity, energy consumption structure, and carbon intensity are the primary influencing factors in curbing carbon emissions. Among these, the carbon reduction impact of energy consumption intensity is the most significant. Hong Kong should continue to adopt a robust strategy for controlling total energy consumption to effectively mitigate carbon emissions. Additionally, it should remain vigilant regarding the potential implications of future energy price fluctuations. It is also essential to sustain cross-border energy cooperation, primarily based on electricity imports from the Pearl River Delta, while simultaneously expanding international and domestic supply channels for natural gas. Full article
(This article belongs to the Special Issue Low Carbon Energy and Sustainability—2nd Edition)
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41 pages, 1344 KiB  
Article
Strengthening Smart Specialisation Strategies (S3) Through Network Analysis: Policy Insights from a Decade of Innovation Projects in Aragón
by David Rodríguez Ochoa, Nieves Arranz and Marta Fernandez de Arroyabe
Economies 2025, 13(8), 218; https://doi.org/10.3390/economies13080218 - 26 Jul 2025
Viewed by 276
Abstract
This paper applies a multi-level social network analysis to examine Aragón’s innovation ecosystem, focusing on a decade of competitive public projects (2014–2023) aligned with the region’s Smart Specialisation Strategy (S3) 2021–2027. By mapping and weighting the participation of regional entities across regional, national, [...] Read more.
This paper applies a multi-level social network analysis to examine Aragón’s innovation ecosystem, focusing on a decade of competitive public projects (2014–2023) aligned with the region’s Smart Specialisation Strategy (S3) 2021–2027. By mapping and weighting the participation of regional entities across regional, national, and European calls, the study uncovers how all types of local actors organise themselves around key specialisation areas. Moreover, a comparative benchmark is introduced by analysing more than 33,000 Horizon 2020 and Horizon Europe initiatives without Aragonese partners, revealing how to fill structural gaps and enrich the regional ecosystem through international collaboration. Results show strong funding concentration in four fields—Energy, Health, Agri-Food, and Advanced Technologies—while other historically strategic areas like Hydrogen and Water remain underrepresented. Although leading institutions (UNIZAR, CIRCE, ITA, AITIIP) play central roles in connecting academia and industry, direct collaboration among them is limited, pointing to missed synergies. Expanding previous SNA-based assessments, this study introduces a diagnostic tool to guide policy, proposing targeted actions such as challenge-driven calls, dedicated support programs, and cross-border consortia with top EU partners. Applied to two contrasting specialisation areas, the method offers sector-specific recommendations, helping policymakers align Aragón’s innovation capabilities with EU priorities and strengthen its position in both established and emerging domains. Full article
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41 pages, 5984 KiB  
Article
Socio-Economic Analysis for Adoption of Smart Metering System in SAARC Region: Current Challenges and Future Perspectives
by Zain Khalid, Syed Ali Abbas Kazmi, Muhammad Hassan, Sayyed Ahmad Ali Shah, Mustafa Anwar, Muhammad Yousif and Abdul Haseeb Tariq
Sustainability 2025, 17(15), 6786; https://doi.org/10.3390/su17156786 - 25 Jul 2025
Viewed by 503
Abstract
Cross-border energy trading activity via interconnection has received much attention in Southern Asia to help the South Asian Association for Regional Cooperation (SAARC) region’s energy deficit states. This research article proposed a smart metering system to reduce energy losses and increase distribution sector [...] Read more.
Cross-border energy trading activity via interconnection has received much attention in Southern Asia to help the South Asian Association for Regional Cooperation (SAARC) region’s energy deficit states. This research article proposed a smart metering system to reduce energy losses and increase distribution sector efficiency. The implementation of smart metering systems in utility management plays a pivotal role in advancing several Sustainable Development Goals (SDGs), i.e.; SDG (Affordable and Clean Energy), and SDG Climate Action. By enabling real-time monitoring, accurate measurement, and data-driven management of energy resources, smart meters promote efficient consumption, reduce losses, and encourage sustainable behaviors among consumers. The adoption of a smart metering system along with Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis, socio-economic analysis, current challenges, and future prospects was also investigated. Besides the economics of the electrical distribution system, one feeder with non-technical losses of about 16% was selected, and the cost–benefit analysis and cost–benefit ratio was estimated for the SAARC region. The import/export ratio is disturbing in various SAARC grids, and a solution in terms of community microgrids is presented from Pakistan’s perspective as a case study. The proposed work gives a guidelines for SAARC countries to reduce their losses and improve their system functionality. It gives a composite solution across multi-faceted evaluation for the betterment of a large region. Full article
(This article belongs to the Section Development Goals towards Sustainability)
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20 pages, 1362 KiB  
Review
Hungarian Higher Education Beyond Hungary’s Borders as a Geostrategic Instrument
by Alexandra Jávorffy-Lázok
Soc. Sci. 2025, 14(8), 459; https://doi.org/10.3390/socsci14080459 - 24 Jul 2025
Viewed by 454
Abstract
This study examines the geostrategic role of Hungarian-language higher education institutions beyond Hungary’s border. These institutions not only fulfil an educational function but also play a role in preserving identity and geopolitics in the national policy of the Hungarian state. This research is [...] Read more.
This study examines the geostrategic role of Hungarian-language higher education institutions beyond Hungary’s border. These institutions not only fulfil an educational function but also play a role in preserving identity and geopolitics in the national policy of the Hungarian state. This research is based on a narrative review of the literature, which analyses the demographic situation of Hungarians living beyond the borders and the tools used to support higher education by synthesising domestic and international literature, statistical data, and forecasts. The results highlight that Hungarian-language higher education plays a key role in preserving ethnocultural identity and increasing the chances of success in the homeland, but also faces constraints such as labour market disadvantages resulting from a lack of state language skills. This study concludes that, in order to ensure the sustainability of Hungarian higher education beyond the border, it is necessary to strike a balance between identity preservation and integration, thereby promoting geopolitical stability and cultural cohesion with the majority society. Full article
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14 pages, 1187 KiB  
Article
Emergence of Cryptosporidium parvum IIc Subtype and Giardia duodenalis Assemblage E in AIDS Patients in Central China: Evidence for Neglected Transmission Dynamics
by Zhuolin Tao, Ke Hong, Peixi Qin, Hui Liu, Chunqun Wang, Jigang Yin, Xin Li, Guan Zhu and Min Hu
Microorganisms 2025, 13(8), 1731; https://doi.org/10.3390/microorganisms13081731 - 24 Jul 2025
Viewed by 293
Abstract
Zoonotic opportunistic enteric protozoa represent a significant global health threat to immunocompromised populations, especially individuals with human immunodeficiency virus (HIV). Despite China’s severe HIV burden, molecular epidemiological data on enteric protozoa remain limited in this population. In this study, we investigated the occurrence [...] Read more.
Zoonotic opportunistic enteric protozoa represent a significant global health threat to immunocompromised populations, especially individuals with human immunodeficiency virus (HIV). Despite China’s severe HIV burden, molecular epidemiological data on enteric protozoa remain limited in this population. In this study, we investigated the occurrence and molecular characteristics of Cryptosporidium species, Giardia duodenalis, and Enterocytozoon bieneusi among 150 AIDS patients with severe immunodeficiency in Wuhan city, Hubei Province, China. The overall test-positive rate was 5.33% (8/150), comprising Cryptosporidium species (including C. hominis, C. parvum, and C. meleagridis) in 2.00% (3/150) and G. duodenalis (including assemblage A, B, and E) in 3.33% (5/150); E. bieneusi was not detected. Notably, this study reports the first identification of the C. parvum subtype IIcA5G3 in humans in China, certainly indicating possible cross-border transmission. Furthermore, the detection of C. meleagridis IIIbA22G1R1c provided additional molecular evidence for chicken-to-human transmission. The finding of G. duodenalis assemblage E highlights the underrecognized zoonotic spillover risks to immunocompromised populations. These findings emphasize the diversity of infectious reservoirs, and the need for enhanced national molecular surveillance of these neglected zoonotic enteric protozoa, alongside targeted interventions for vulnerable populations. Full article
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14 pages, 759 KiB  
Article
The “Tripitaka Diplomacy” in the East Asian World During the 10th–12th Centuries
by Jing Jiang, Junnan Shen and Kanliang Wang
Religions 2025, 16(8), 961; https://doi.org/10.3390/rel16080961 - 24 Jul 2025
Viewed by 519
Abstract
During the 10th to 12th centuries, the Song, Liao, and Goryeo Dynasties and Japanese regimes in East Asia engaged in frequent activities of requesting and granting the Chinese Tripitaka (the Chinese Buddhist Canon), forming a distinctive diplomatic phenomenon termed “Tripitaka Diplomacy”. This paper [...] Read more.
During the 10th to 12th centuries, the Song, Liao, and Goryeo Dynasties and Japanese regimes in East Asia engaged in frequent activities of requesting and granting the Chinese Tripitaka (the Chinese Buddhist Canon), forming a distinctive diplomatic phenomenon termed “Tripitaka Diplomacy”. This paper examines the political and cultural dynamics underlying these cross-border interactions by analyzing the historical records of such activities among the polities. It also explores the multifaceted role of the Tripitaka in East Asian international relations, which transcended its religious significance to shape diplomatic strategies and power dynamics. Through this lens, this paper reveals the complexity of the East Asian international order during this period, emphasizing how the circulation of the Tripitaka served as both a cultural bridge and a tool for political negotiation. Full article
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21 pages, 872 KiB  
Article
The Impact of Central Bank Digital Currencies (CBDCs) on Global Financial Systems in the G20 Country GVAR Approach
by Nesrine Gafsi
FinTech 2025, 4(3), 35; https://doi.org/10.3390/fintech4030035 - 24 Jul 2025
Viewed by 435
Abstract
This paper considers the impact of Central Bank Digital Currencies (CBDCs) on the world’s financial systems with a special emphasis on G20 economies. Using quarterly macro-financial data for the period of 2000 to 2024, collected from the IMF, BIS, World Bank, and Atlantic [...] Read more.
This paper considers the impact of Central Bank Digital Currencies (CBDCs) on the world’s financial systems with a special emphasis on G20 economies. Using quarterly macro-financial data for the period of 2000 to 2024, collected from the IMF, BIS, World Bank, and Atlantic Council, a Global Vector Autoregression (GVAR) model is applied to 20 G20 countries. The results reveal significant heterogeneity across economies: CBDC shocks intensify emerging market financial instability (e.g., India, Brazil), while more digitally advanced countries (e.g., UK, Japan) experience stabilization. Retail CBDCs increase disintermediation risks in more fragile banking systems, while wholesale CBDCs improve cross-border liquidity. This article contributes to the literature by providing the first GVAR-based estimation of CBDC spillovers globally. Full article
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13 pages, 293 KiB  
Article
Awareness and Attitudes Toward Iron Deficiency Anemia Among the Adult Population in the Northern Border Region of the Kingdom of Saudi Arabia—A Cross-Sectional Study
by Mariah N. Hafiz, Anshoo Agarwal, Nida Suhail, Zakariya M. S. Mohammed, Sanaa A. Mohammed, Hibah A. Almasmoum, Mohammed M. Jawad and Wesam Nofal
Hemato 2025, 6(3), 23; https://doi.org/10.3390/hemato6030023 - 22 Jul 2025
Viewed by 251
Abstract
Background: Iron deficiency anemia (IDA) represents a significant public health concern, particularly among female populations. Various demographic factors, including age and socioeconomic status, have a substantial impact on overall health outcomes, contributing to the prevalence of IDA. The primary objective of this study [...] Read more.
Background: Iron deficiency anemia (IDA) represents a significant public health concern, particularly among female populations. Various demographic factors, including age and socioeconomic status, have a substantial impact on overall health outcomes, contributing to the prevalence of IDA. The primary objective of this study was to assess the knowledge and awareness of iron deficiency anemia among the adult population and to examine its correlation with various sociodemographic factors. Methods: A cross-sectional study was conducted in the Northern Region of Saudi Arabia between October and December 2024. Data were collected using a structured questionnaire from 385 participants aged 18 years and older. The Chi-square test was utilized to assess the association between categorical variables. Results: In this study, 42.5% of participants demonstrated good knowledge of IDA, 48.1% had moderate knowledge, and 9.4% showed poor knowledge. Knowledge levels were significantly associated with gender, age, education, and self-perceived IDA status. Women, older individuals, and those with higher levels of education had a greater knowledge of IDA. Regarding attitude, 93% of participants had a positive attitude, while only 7% exhibited a negative attitude. Interestingly, none of the explanatory variables were significantly linked to attitude, suggesting that positive attitude toward IDA was consistent across all demographic groups. Conclusions: This study highlights the need for targeted health initiatives focusing on diet, supplementation, symptom recognition, and prevention to effectively reduce the burden of IDA. Prioritizing education through symposiums and medical programs in high-prevalence regions is crucial. Full article
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33 pages, 304 KiB  
Article
LEADER Territorial Cooperation in Rural Development: Added Value, Learning Dynamics, and Policy Impacts
by Giuseppe Gargano and Annalisa Del Prete
Land 2025, 14(7), 1494; https://doi.org/10.3390/land14071494 - 18 Jul 2025
Viewed by 493
Abstract
This study examines the added value of territorial cooperation within the LEADER approach, a key pillar of the EU’s rural development policy. Both interterritorial and transnational cooperation projects empower Local Action Groups (LAGs) to tackle common challenges through innovative and community-driven strategies. Drawing [...] Read more.
This study examines the added value of territorial cooperation within the LEADER approach, a key pillar of the EU’s rural development policy. Both interterritorial and transnational cooperation projects empower Local Action Groups (LAGs) to tackle common challenges through innovative and community-driven strategies. Drawing on over 3000 projects since 1994, LEADER cooperation has proven its ability to deliver tangible results—such as joint publications, pilot projects, and shared digital platforms—alongside intangible benefits like knowledge exchange, improved governance, and stronger social capital. By facilitating experiential learning and inter-organizational collaboration, cooperation enables stakeholders to work across territorial boundaries and build networks that respond to both national and transnational development issues. The interaction among diverse actors often fosters innovative responses to local and regional problems. Using a mixed-methods approach, including case studies of Italian LAGs, this research analyses the dynamics, challenges, and impacts of cooperation, with a focus on learning processes, capacity building, and long-term sustainability. Therefore, this study focuses not only on project outcomes but also on the processes and learning dynamics that generate added value through cooperation. The findings highlight how territorial cooperation promotes inclusivity, fosters cross-border dialogue, and supports the development of context-specific solutions, ultimately enhancing rural resilience and innovation. In conclusion, LEADER cooperation contributes to a more effective, participatory, and sustainable model of rural development, offering valuable insights for the broader EU cohesion policy. Full article
13 pages, 1135 KiB  
Article
Field-Based Characterization of Peste des Petits Ruminants in Sheep in Romania: Clinical, Pathological, and Diagnostic Perspectives
by Romică Iacobescu-Marițescu, Adriana Morar, Viorel Herman, Emil Tîrziu, János Dégi and Kálmán Imre
Vet. Sci. 2025, 12(7), 679; https://doi.org/10.3390/vetsci12070679 - 18 Jul 2025
Viewed by 312
Abstract
Peste des petits ruminants is a highly contagious transboundary viral disease that poses a serious threat to small ruminant populations worldwide. In 2024, seven outbreaks of PPR were recorded in sheep flocks from Timiș County, marking the second confirmed incursions of peste des [...] Read more.
Peste des petits ruminants is a highly contagious transboundary viral disease that poses a serious threat to small ruminant populations worldwide. In 2024, seven outbreaks of PPR were recorded in sheep flocks from Timiș County, marking the second confirmed incursions of peste des petits ruminants virus (PPRV) in Romania. This study aimed to document the clinical presentation, pathological findings, and diagnostic confirmation with these field outbreaks. Comprehensive field investigations were carried out between July and September 2024, including clinical examinations, post mortem analysis, serological screening, and molecular detection using reverse transcription polymerase chain reaction (RT-PCR). A total of 13,203 sheep were evaluated, with an overall mortality rate of 12.77%. Characteristic clinical signs included mucopurulent nasal discharge, oral erosions, respiratory distress, and diarrhea. Gross lesions observed during necropsy included hemorrhagic bronchopneumonia, bile-stained liver, catarrhal enteritis, and mucosal hemorrhages. Serological testing revealed flock-level seroprevalence rates ranging from 46.7% to 80.0%, with higher rates observed in older animals. RT-PCR confirmed PPRV infection in all affected flocks. Our findings provide strong evidence of virulent PPRV circulation in an area where the virus had not been reported before. The results highlight an urgent need to strengthen surveillance systems, enhance diagnostic capacity, and foster cross-border collaboration. These field-based insights can contribute to both national and international efforts aimed at controlling and ultimately eradicating the disease. Full article
(This article belongs to the Special Issue Viral Infections in Wild and Domestic Animals)
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28 pages, 632 KiB  
Article
The Impact of ESG Performance of Acquirer on the Long-Term Performance of Cross-Border Mergers and Acquisitions of China A-Share Listed Companies: An Analysis Based on Two-Way Fixed Effect and Threshold Effect
by Xinyu Zou, Zhongping Wang and Jianing Zhao
Sustainability 2025, 17(14), 6566; https://doi.org/10.3390/su17146566 - 18 Jul 2025
Viewed by 340
Abstract
As Environmental, Social, and Governance (ESG) gradually become the common language for sustainable development of international society and international cooperation in China, it is worth discussing whether ESG practices can help Chinese enterprises shape a responsible international image, overcome the liability of foreignness [...] Read more.
As Environmental, Social, and Governance (ESG) gradually become the common language for sustainable development of international society and international cooperation in China, it is worth discussing whether ESG practices can help Chinese enterprises shape a responsible international image, overcome the liability of foreignness (LOF) and improve the long-term performance of cross-border mergers and acquisitions (M&As). On the basis of theoretical discussion, combined with the panel data of cross-border M&As of China A-share listed companies from 2010 to 2021, this paper empirically examines that the ESG performance of acquirers has a significant positive impact on the long-term performance of cross-border mergers and acquisitions (M&As) of China A-share listed companies. Furthermore, the ESG performance of environment and governance dimensions and heavily polluting enterprises has stronger incentive effects on the long-term performance of cross-border M&As. The ESG performance of the acquirer positively affects the long-term performance of cross-border M&As of China A-share listed companies by acquiring capital market resources, product market competitiveness, regulatory legitimacy, and enhancing internal synergy. Full article
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