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32 pages, 6710 KiB  
Article
Designing Beyond Walls: An Exploration of How Architecture Can Contribute to Semi-Independent Living for Autistic Adults
by Amber Holly Abolins Haussmann and Crystal Victoria Olin
Architecture 2025, 5(3), 48; https://doi.org/10.3390/architecture5030048 - 7 Jul 2025
Viewed by 513
Abstract
High unemployment rates, inaccessible housing markets, and funding challenges create barriers to finding suitable housing for adults with Autism Spectrum Disorder (ASD) who have less obvious support needs, also known as autistic adults. While public and community housing services in Aotearoa New Zealand [...] Read more.
High unemployment rates, inaccessible housing markets, and funding challenges create barriers to finding suitable housing for adults with Autism Spectrum Disorder (ASD) who have less obvious support needs, also known as autistic adults. While public and community housing services in Aotearoa New Zealand (AoNZ) may be an option, a lack of accessible designs leaves families uncertain about future care options. This paper, part of the MBIE-funded Public Housing and Urban Regeneration: Maximising Wellbeing research programme in partnership with registered Community Housing Provider, Te Toi Mahana (TTM), takes an exploratory approach to ask how public and community housing can support and help enable semi-independent living for autistic adults. It investigates how design elements—such as dwelling layouts, material choices, colour schemes, lighting, acoustics, shared and community spaces, and external environments—impact the wellbeing of autistic adults. By extension, insights may also inform private housing design. The study focuses on autistic adults who may be considered ‘mid-to-high’ functioning or those who have been previously diagnosed with Asperger’s Syndrome, whose housing needs are often overlooked. It develops guiding principles and detailed guidance points for public and community housing, informed by the literature, case studies, and data from a photo elicitation study and interviews undertaken with autistic adults in AoNZ. These guiding principles are tested through the speculative redesign of a large TTM site in Newtown, Wellington, AoNZ. Findings should be of interest to government agencies, housing providers, architects, stakeholders, and others involved in shaping the built environment, as well as autistic adults and their supporters, both in AoNZ and internationally. Full article
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15 pages, 1639 KiB  
Article
Imagine the Possibilities Pain Coalition and Opioid Marketing to Veterans: Lessons for Military and Veterans Healthcare
by Christopher K. Haddock, Luther Elliott, Andrew Kolodny, Christopher M. Kaipust, Walker S. C. Poston, Jennifer D. Oliva, Eleanor T. Lewis, Elizabeth M. Oliva, Nattinee Jitnarin and Chunki Fong
Healthcare 2025, 13(4), 434; https://doi.org/10.3390/healthcare13040434 - 18 Feb 2025
Viewed by 1361
Abstract
Background/Objectives: The opioid crisis has disproportionately impacted U.S. military veterans, who face heightened risks of opioid use disorder and overdose due to chronic pain and mental health conditions. The pharmaceutical industry’s role in misrepresenting opioid risks—leading to over USD 50 billion in [...] Read more.
Background/Objectives: The opioid crisis has disproportionately impacted U.S. military veterans, who face heightened risks of opioid use disorder and overdose due to chronic pain and mental health conditions. The pharmaceutical industry’s role in misrepresenting opioid risks—leading to over USD 50 billion in legal settlements—has included targeted marketing to vulnerable populations. This study examines Janssen Pharmaceuticals’ “Imagine the Possibilities Pain Coalition” (IPPC), which aimed to increase opioid use among veterans with chronic non-cancer pain. Insights from this public health industry document analysis offer guidance for military medicine and healthcare policymaking. Methods: Using the Opioid Industry Document Archive (OIDA), housed at Johns Hopkins University and the University of California, San Francisco, researchers conducted retrospective content analysis. Documents referencing veterans were identified through keyword searches on Johns Hopkins’ SciServer portal and reviewed using CoCounsel, an AI-based legal document platform using a human-in-the-loop approach. Relevant documents were examined by the authors to extract material aligned with the research focus. Results: The IPPC employed strategies to influence opioid prescribing for veterans. These included educational materials that minimized addiction risks and exaggerated long-term benefits and empathy-driven narratives prioritizing immediate pain relief over potential harms. Ghostwriting ensured favorable perspectives on opioids in scientific literature, aligning with broader industry strategies to promote opioids for chronic pain. Conclusions: The targeted marketing of opioids to veterans has exacerbated the opioid crisis, as documented in government reports and litigation. Rigorous oversight of industry-funded coalitions and evidence-based practices are critical to insulating military healthcare from corporate influence and addressing the opioid crisis among veterans. Full article
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27 pages, 4197 KiB  
Article
Towards New Strategies for Investing: Insights on Sustainable Exchange-Traded Funds (ETFs)
by Nini Johana Marín-Rodríguez, Juan David González-Ruíz and Sergio Botero
World 2025, 6(1), 8; https://doi.org/10.3390/world6010008 - 6 Jan 2025
Viewed by 2753
Abstract
As investors increasingly incorporate environmental, social, and governance (ESG) factors into their decision-making, sustainable Exchange-Traded Funds (ETFs) have gained prominence in both investment portfolios and financial research. This study aims to provide a comprehensive analysis of the Sustainable ETF research landscape by utilizing [...] Read more.
As investors increasingly incorporate environmental, social, and governance (ESG) factors into their decision-making, sustainable Exchange-Traded Funds (ETFs) have gained prominence in both investment portfolios and financial research. This study aims to provide a comprehensive analysis of the Sustainable ETF research landscape by utilizing scientometric and bibliometric methods with tools such as VOSviewer, Bibliometrix, and CiteSpace. Drawing from the Web of Science and Scopus databases, the study identifies key thematic areas, influential authors, and emerging trends. The findings highlight the conceptual evolution of Green ETFs, from early definitions focused on ESG-aligned investments to more complex instruments incorporating diversified screening criteria and advanced technologies like machine learning and artificial intelligence. Practical challenges such as regulatory inconsistencies, high implementation costs, and limited investor education are underscored as critical barriers to broader adoption. Future trends reveal the growing role of blockchain technology for ESG verification, crisis-specific ETF models, and the development of more inclusive screening strategies. Strategically, Green ETFs demonstrate resilience during market volatility and support sustainability-driven investment frameworks. The study provides valuable insights for investors, policymakers, and researchers, emphasizing Green ETFs’ role in driving sustainable finance and offering actionable guidance for optimizing ESG investment strategies. Full article
(This article belongs to the Special Issue The Role of Green Finance in Economic Development)
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14 pages, 267 KiB  
Article
Social Determinants of Health in India: Reimagining of Dr. B.R. Ambedkar’s Vision in the Light of Marginalized Communities
by Kanhaiya Tripathi, Diksha Kanwat, Shankar Lal Bika, Jaspal Kaur, Neelu Rawat, Ashwani Kumar, Bhupinder Singh, Doggala Raju Kumar and Bawa Singh
Soc. Sci. 2025, 14(1), 1; https://doi.org/10.3390/socsci14010001 - 25 Dec 2024
Viewed by 4258
Abstract
The ongoing existence of health disparities in marginalized communities in India can be attributed to social health determinants such as poverty, caste, gender, and limited access to education and healthcare. Dr. B.R. Ambedkar, an iconic figure in Indian social reform and the driving [...] Read more.
The ongoing existence of health disparities in marginalized communities in India can be attributed to social health determinants such as poverty, caste, gender, and limited access to education and healthcare. Dr. B.R. Ambedkar, an iconic figure in Indian social reform and the driving force behind the Indian Constitution, acknowledged the significance of the social determinants of health influencing health outcomes. This paper explores Dr. Ambedkar’s vision of addressing health disparities, with a focus on his contributions to public health policy and the promotion of social justice. Additionally, it analyses the ongoing perpetuation of inequality through the examination of social determinants of health and explores how Ambedkar’s vision can provide guidance for present public health strategies. The analysis highlights the importance of strong primary healthcare systems, recognizing universal healthcare as an essential human right through the vision of Dr. Ambedkar. It also advocates for greater government funding and policy coordination to effectively tackle health disparities. Full article
(This article belongs to the Section Social Stratification and Inequality)
18 pages, 2105 KiB  
Article
Spatial Pattern Evolution and Influencing Factors of Foreign Star-Rated Hotels in Chinese Cities
by Xiang Zhang, Dongxiao Han, Chunfeng Zhang, Wenyi Feng, Jinsong Wu, Yan Xie and Yating He
Reg. Sci. Environ. Econ. 2025, 2(1), 1; https://doi.org/10.3390/rsee2010001 - 24 Dec 2024
Cited by 2 | Viewed by 1258
Abstract
Spatial distribution is a critical factor influencing the success or failure of hotel management. This study examines the spatial distribution patterns of foreign star-rated hotels in China from 2000 to 2015 based on 27 typical city cases, using global and local spatial autocorrelation [...] Read more.
Spatial distribution is a critical factor influencing the success or failure of hotel management. This study examines the spatial distribution patterns of foreign star-rated hotels in China from 2000 to 2015 based on 27 typical city cases, using global and local spatial autocorrelation methods within GIS spatial analysis. The research explores the evolution of these patterns, analyzes key characteristics, and combines these insights with a stepwise regression method. Pearson correlation analysis is used to identify factors that influence the evolution of the spatial pattern. This study reveals that, first, the Z-value of global spatial autocorrelation of foreign star-rated hotels in China decreases from 2.38 to 1.63, indicating that the spatial distribution of foreign star-rated hotels in China has shifted from imbalanced to balanced, transitioning from economically developed regions such as areas with overseas Chinese populations, provincial capitals, and municipalities directly under central government control, toward tourist cities. Second, star-rated hotels hold a critical position within the spatial pattern, highlighting their central role in shaping the hospitality landscape. Third, the spatial distribution of foreign star-rated hotels is primarily influenced by the number of inbound tourists, followed by the presence of scenic spots rated 4A and above. The influence of other factors is found to be less significant. Fourth, the correlation coefficient between tourism demand and foreign star-rated hotels increased by 0.004, whereas the correlation coefficient between tourism supply and foreign star-rated hotels decreased by 0.036, indicating that market factors are playing an increasingly important role in shaping the evolution of foreign star-rated hotels in China, reflecting broader market dynamics. This study provides practical guidance for local Chinese hotels facing competition from foreign-funded establishments and offers theoretical insight into the strategic implementation of transnational operations. It points out the expansion direction of local Chinese hotels across different developmental stages. Full article
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25 pages, 25344 KiB  
Article
Identifying Priority Conservation Areas in Shennongjia National Park Based on Monetary Costs and Zonation Model
by Weixuan Ding, Liangyi Huang, Jirong Guang and Jingya Zhang
Land 2024, 13(12), 2164; https://doi.org/10.3390/land13122164 - 12 Dec 2024
Viewed by 1315
Abstract
Identifying priority conservation areas (PCAs) for national parks is critical for improving the cost-effectiveness and viability of conservation efforts, given the multiplicity of conservation values, the complexity of human activities, and the limited financial resources available. Assessing conservation costs is central to systematic [...] Read more.
Identifying priority conservation areas (PCAs) for national parks is critical for improving the cost-effectiveness and viability of conservation efforts, given the multiplicity of conservation values, the complexity of human activities, and the limited financial resources available. Assessing conservation costs is central to systematic conservation planning (SCP). To compensate for the limitations of the alternative cost method in small-scale case studies and accurately reflect the cost differences due to specific land use, tenure, and management strategies, conservation costs are quantified and spatialized in this study using monetization methods. Taking Shennongjia National Park (SNP) as an example, we considered the core conservation values of species, ecosystems, and geological heritage, using the Zonation 5 model to identify PCAs under three different targets: 17%, 30%, and 50%. The results indicated that, as the conservation targets increased, PCAs expanded from the central and southern high-altitude areas to the northwest and northeast. Conservation gaps are primarily concentrated in the western part of Songluo and the northern parts of Hongping and Songba. Conservation costs exhibit clear spatial heterogeneity, increasing gradually from the central high mountains towards the surrounding areas. Among these, ecological compensation cost was the primary factor driving the sharp increase in total costs, while opportunity cost remained consistently low with minimal fluctuations. Compared to the alternative method, our study clarified the spatial distribution and types of costs in the process of national park construction, providing a quantitative basis and scientific guidance for future fiscal investment directions, methods, and responsible entities. At the administrative division level, we revealed the main cost challenges faced by townships in balancing resource conservation with community development, leading to more targeted, timely, and actionable community governance strategies. These findings further illustrate the significant advantages of using monetary costs in optimizing the boundaries of individual national parks and enhancing funding allocation efficiency, while promoting effective unified management of natural resource assets within spatial planning. Full article
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33 pages, 919 KiB  
Article
Customised Methodology to Assess and Measure Effectiveness of Integrated Landscape Management Relevant Multi-Stakeholder Transformative Governance, Incorporating Rights-Based Planning and Tenure Aspects, Applied in Kenya, Nigeria, and Viet Nam
by Louisa J. M. Jansen and Patrick P. Kalas
Sustainability 2024, 16(21), 9312; https://doi.org/10.3390/su16219312 - 26 Oct 2024
Viewed by 2437
Abstract
Different thinking and strategies are needed to transform our food systems at different scales. Food systems can be changed towards a more sustainable path through multi-stakeholder transformative governance at the landscape level because that is where national-level visions, objectives, and policies meet with [...] Read more.
Different thinking and strategies are needed to transform our food systems at different scales. Food systems can be changed towards a more sustainable path through multi-stakeholder transformative governance at the landscape level because that is where national-level visions, objectives, and policies meet with local practice, priorities, and actions. Concrete and practical guidance on how to effectively put a multi-stakeholder transformative governance process into practice is missing. Through the Global Environment Facility (GEF) funded ‘Food Systems, Land Use and Restoration Impact Programme’, led by the World Bank, countries are supported in integrated landscape management (ILM) to ensure that production systems are embedded within wider landscapes to safeguard the natural capital and ecosystem services on which they depend. A customised methodology to assess and measure the effectiveness of ILM-relevant multi-stakeholder transformative governance, incorporating rights-based planning and tenure aspects, has been developed that makes governance explicit in the ILM process. This methodology aims to improve landscape-level institutional coordination, coherence, and collaboration through enhanced horizontal and vertical coordination and network dynamics. The conceptual framework of the customised methodology and how to operationalise it are explained and illustrated with the application in the country projects in Kenya, Nigeria, and Viet Nam. Making transformative governance explicit within the ILM process at the landscape level will require investments in time and capabilities, but allows governance to act as a catalyst towards more sustainable pathways. Full article
(This article belongs to the Special Issue Sustainable Land Use and Management, 2nd Edition)
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47 pages, 680 KiB  
Review
Maximizing the Impact and ROI of Leadership Development: A Theory- and Evidence-Informed Framework
by Jaason M. Geerts
Behav. Sci. 2024, 14(10), 955; https://doi.org/10.3390/bs14100955 - 16 Oct 2024
Viewed by 14603
Abstract
Globally, organizations invest an estimated USD 60 billion annually in leadership development; however, the workplace application of learning is typically low, and many programs underperform or fail, resulting in wasted time and money and potential harm. This article presents a novel theory- and [...] Read more.
Globally, organizations invest an estimated USD 60 billion annually in leadership development; however, the workplace application of learning is typically low, and many programs underperform or fail, resulting in wasted time and money and potential harm. This article presents a novel theory- and evidence-informed framework to maximize the outcomes and return on investment (ROI) of leadership development programs. The foundation of the framework derives from four separate literature reviews: three systematic reviews on leadership development, including the only two to isolate gold-standard elements of effective design, delivery, and evaluation, and one on “training transfer”. Informed by innovative principles of leadership development and unique theoretical models and frameworks, this framework consists of 65 evidence-informed strategies that can be applied as a foundation (9), and before (23), during (17), at the conclusion of (11), and sometime after (5), programs, to maximize impact and ROI. Implications for practice and further research are also presented. Given the stakes, there is an urgent need for evidence and tools to maximize the impact and ROI of leadership development. This novel framework provides robust theory- and evidence-informed guidance for governments, policymakers, and those funding, designing, delivering, and supporting development. Full article
29 pages, 9183 KiB  
Article
The Evolution of Government–Enterprise Strategies of “Expressway + Logistics Distribution”
by Peiling Jiang, Wenbing Shui and Mingwei He
Sustainability 2024, 16(17), 7661; https://doi.org/10.3390/su16177661 - 3 Sep 2024
Viewed by 1164
Abstract
Currently, China’s expressway revenue and expenditure imbalance problem is serious. The development of an “Expressway Derivative Economy” (EDE) helps address expressway deficits, ensuring the expressway’s sustainable operation. The “Expressway + Logistics Distribution” (ELD) mode is a crucial form of the EDE and enhances [...] Read more.
Currently, China’s expressway revenue and expenditure imbalance problem is serious. The development of an “Expressway Derivative Economy” (EDE) helps address expressway deficits, ensuring the expressway’s sustainable operation. The “Expressway + Logistics Distribution” (ELD) mode is a crucial form of the EDE and enhances expressway traffic flow and asset income. However, the cooperation mechanism among stakeholders remains unclear, hindering the widespread promotion of this mode. This study designs two ELD modes and elaborates on their respective advantages. Therefore, a three-party evolutionary game model involving the government, expressway groups, and logistics enterprises is established. Government “land-use-right” grant and tax incentive policies are formulated to explore the cooperation mechanism among stakeholders. The results indicate that both government “land-use-right” grant and tax incentive policies positively influence the positive evolution of the system. However, when the government “land-use-right” grants reach a high level, the willingness of logistics enterprises to choose entry will decrease due to resource crowding. Comparatively, a higher-level “land-use-right” grant policy significantly enhances the role of government tax incentive policy in promoting the positive development of the system. During tight government funding, it is a feasible policy to prioritize expressway groups by providing more tax incentives. The findings provide theoretical guidance for promoting the ELD mode. Full article
(This article belongs to the Section Sustainable Transportation)
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20 pages, 1132 KiB  
Article
Can Green Credit Policies Promote Fund Investment? Evidence from China
by Jiarui Gao and Tongshui Xia
Sustainability 2024, 16(17), 7561; https://doi.org/10.3390/su16177561 - 31 Aug 2024
Cited by 1 | Viewed by 1460
Abstract
Fund investment, as a type of financial investment in the capital market, is designed to attract more social capital towards the green environmental protection sector and foster a harmonious relationship between economic development, social advancement, and ecological conservation. Therefore, as a significant policy [...] Read more.
Fund investment, as a type of financial investment in the capital market, is designed to attract more social capital towards the green environmental protection sector and foster a harmonious relationship between economic development, social advancement, and ecological conservation. Therefore, as a significant policy instrument, will implementing the green credit policy impact the investment preferences of fund investors? How does it influence their participation in the market? This study utilizes microdata from Chinese Shanghai and Shenzhen A-share-listed companies from 2004 to 2020 to establish a DID model based on the Green Credit Guidelines introduced in 2012. The research delves into the effects of the green credit policy on fund investment and its underlying mechanisms. The green credit policy was found to favor the entry of fund investment, and the results are still valid after a series of robustness tests. The attraction effect of the green credit policy on investors is more evident in non-state-owned enterprises, small and micro enterprises, and non-green industries. Green credit policy can positively influence investor entry through the financing constraint effect and productivity effect. The study theoretically supplements the literature in the field of evaluating the effect of the green credit policy, and practically provides practical guidance and inspiration for strengthening the synergy of the government, banks, and enterprises in implementing green credit policy, promoting industrial transformation, and upgrading, and realizing high-quality economic development. Full article
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23 pages, 22346 KiB  
Article
Correlation between Soil Moisture Change and Geological Disasters in E’bian Area (Sichuan, China)
by Hongyi Guo and Antonio Miguel Martínez-Graña
Appl. Sci. 2024, 14(15), 6685; https://doi.org/10.3390/app14156685 - 31 Jul 2024
Viewed by 1432
Abstract
E’bian Yi Autonomous County is a mineral-rich area located in a complex geological structure zone. The region experiences frequent geological disasters due to concentrated rainfall, steep terrain, and uneven vegetation cover. In particular, during the rainy season, large amounts of rainwater rapidly accumulate, [...] Read more.
E’bian Yi Autonomous County is a mineral-rich area located in a complex geological structure zone. The region experiences frequent geological disasters due to concentrated rainfall, steep terrain, and uneven vegetation cover. In particular, during the rainy season, large amounts of rainwater rapidly accumulate, increasing soil moisture and slope pressure, making landslides and debris flows more likely. Additionally, human activities such as mining, road construction, and building can alter the original geological structure, exacerbating the risk of geological disasters. According to publicly available data from the Leshan government, various types of geological disasters occurred in 2019, 2020, 2022, and 2023, resulting in economic losses and casualties. Although some studies have focused on geological disaster issues in E’bian, these studies are often limited to specific areas or types of disasters and lack comprehensive spatial and temporal analysis. Furthermore, due to constraints in technology, funding, and manpower, geophysical exploration, field geological exploration, and environmental ecological investigations have been challenging to carry out comprehensively, leading to insufficient and unsystematic data collection. To provide data support and monitoring for regional territorial spatial planning and geological disaster prevention and control, this paper proposes a new method to study the correlation between soil moisture changes and geological disasters. Six high-resolution Landsat remote sensing images were used as the main data sources to process the image band data, and terrain factors were extracted and classified using a digital elevation model (DEM). Meanwhile, a Normalized Difference Vegetation Index–Land Surface Temperature (NDVI-LST) feature space was constructed. The Temperature Vegetation Drought Index (TVDI) was calculated to analyze the variation trend and influencing factors of soil moisture in the study area. The research results showed that the variation in soil moisture in the study area was relatively stable, and the overall soil moisture content was high (0.18 < TVDI < 0.33). However, due to the large variation in topographic relief, it could provide power and be a source basis for geological disasters such as landslide and collapse, so the inversion value of TVDI was small. The minimum and maximum values of the correlation coefficient (R2) were 0.60 and 0.72, respectively, indicating that the surface water content was relatively large, which was in good agreement with the calculated results of vegetation coverage and conducive to the restoration of ecological stability. In general, based on the characteristics of remote sensing technology and the division of soil moisture critical values, the promoting and hindering effects of soil moisture on geological hazards can be accurately described, and the research results can provide effective guidance for the prevention and control of geological hazards in this region. Full article
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23 pages, 1592 KiB  
Article
Can China’s Cross-Regional Ecological Fiscal Transfers Help Improve the Ecological Environment?—Evidence from Hubei Province
by Mengba Liu, Yanfei Xiong and Anlu Zhang
Land 2024, 13(8), 1132; https://doi.org/10.3390/land13081132 - 25 Jul 2024
Viewed by 1231
Abstract
As an important incentive and constraint system to coordinate the contradiction between ecological resource protection and regional economic development, the ecological and environmental protection effect after its implementation deserves special attention, especially for China, which involves the widest scope of payment and the [...] Read more.
As an important incentive and constraint system to coordinate the contradiction between ecological resource protection and regional economic development, the ecological and environmental protection effect after its implementation deserves special attention, especially for China, which involves the widest scope of payment and the largest transfer and has become the largest governmental ecological compensation program in China and even in the world. Starting from the evolution of China’s eco-financial transfer system, this study conducts an empirical investigation of the ecological and environmental protection effect of the eco-financial transfer system. Such an undertaking is based on the theoretical exploration of the impact mechanism of the eco-financial transfer system to improve the ecological environment quality and based on the panel data of 40 counties in Hubei Province from 2010 to 2020. Results of the study show that the ecological financial transfer system can promote the improvement of regional ecological environment quality, but the promotion effect is insignificant. The financial funds reflect more of a financial compensation effect than a system incentive effect. The increase in the scale of ecological transfer payments is conducive to strengthening the incentive function of the system, promoting local governments to increase environmental protection expenditures and environmental regulation efforts to improve the quality of the ecological environment. Therefore, in the process of implementing ecological financial transfers from the province to the counties, the concept of ecological value contribution should be incorporated into the fund allocation process. In addition, the current ecological transfer payment fund allocation method should be reconstructed on the basis of the ecological value contribution to enhance the guiding role of “high quality and high price, more work and more gain.” The goal is to effectively stimulate the enthusiasm of local governments for ecological environmental protection. Findings have significant guidance for developing countries that are currently seeking to formulate and implement such policies. Full article
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22 pages, 1402 KiB  
Article
Guidance Certification Effect and Governance Supervision Effect of Government Investment Funds
by Sheng Xu, Yaoxiong Li and Durell Esperance Manguet Ndinga
Int. J. Financial Stud. 2024, 12(2), 52; https://doi.org/10.3390/ijfs12020052 - 28 May 2024
Viewed by 1776
Abstract
The establishment of government investment funds serves as a crucial measure for governments at all levels to leverage their certification role and financial resources in attracting social capital to support enterprise development. This paper empirically examines the guiding certification effect and governance supervision [...] Read more.
The establishment of government investment funds serves as a crucial measure for governments at all levels to leverage their certification role and financial resources in attracting social capital to support enterprise development. This paper empirically examines the guiding certification effect and governance supervision effect of government investment funds on enterprise value enhancement, utilising panel data from listed companies and government investment fund investment event data spanning the period from 2011 to 2021. The research findings reveal that government investment funds significantly enhance the value of recipient enterprises. By leveraging their guidance and certification effects and governance supervision effects, these funds alleviate financing constraints, actively participate in corporate governance, and ultimately enhance corporate value. The impact of government investment funds is negatively moderated by the age and size of the enterprise, indicating that the “invest in early-stage and small businesses” investment strategy yields better results in promoting value enhancement. Furthermore, heterogeneity analysis demonstrates that government investment funds have a more pronounced impact on the value of non-heavily polluting industries, enterprises located in the eastern and southern regions of China, and non-state-owned enterprises. This article expands the research scope of government investment funds at the micro level, providing empirical evidence and theoretical support for optimising government investment funding policies and fostering the development of a modern capital market with distinctive Chinese characteristics. Full article
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24 pages, 2287 KiB  
Article
Evolutionary Game Analysis of Governments’ and Enterprises’ Carbon-Emission Reduction
by Jingming Li, Leifu Gao and Jun Tu
Sustainability 2024, 16(10), 4216; https://doi.org/10.3390/su16104216 - 17 May 2024
Cited by 6 | Viewed by 2133
Abstract
With the increasingly serious problem of global climate change, many countries are positively promoting carbon-emission-reduction actions. In order to deeply explore the interaction between enterprises’ carbon-emission reduction and governments’ regulation, this paper builds evolutionary game models between governments and enterprises under the reward-and-punishment [...] Read more.
With the increasingly serious problem of global climate change, many countries are positively promoting carbon-emission-reduction actions. In order to deeply explore the interaction between enterprises’ carbon-emission reduction and governments’ regulation, this paper builds evolutionary game models between governments and enterprises under the reward-and-punishment mechanism. The peer-incentive mechanism is introduced to incentivize enterprises to reduce carbon emissions and coordinate governments and enterprises. The evolutionary-stability strategies are obtained by solving the evolutionary game models. The stability of equilibrium points under different situations is theoretically and numerically studied. The results show that the existence of peer incentives makes enterprises more inclined to positively reduce carbon emissions and governments more inclined to positively regulate. A sufficiently large peer fund can always encourage enterprises to choose positive carbon-reduction emission strategies, while governments choose positive regulation strategies. Not only the increasing rewards and fines but also lowering regulatory costs will promote carbon-emission-reduction behaviors of enterprises. Peer incentives are more effective in promoting positive emission reduction of enterprises compared with rewards and punishments. This study can provide important guidance for governments to formulate regulatory strategies and for enterprises to formulate emission-reduction strategies. Full article
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26 pages, 673 KiB  
Article
Does Digital Inclusive Finance Help County Level Governance in the Five Provinces of Northwest China, from the Perspective of Economic Resilience?
by Xinshu Gong and Liyu Zhao
Sustainability 2024, 16(10), 4034; https://doi.org/10.3390/su16104034 - 11 May 2024
Cited by 2 | Viewed by 1711
Abstract
The sustainable development of a country requires stable funds to reshape and restore its economy, something which cannot be separated from the support of financial services. Digital financial inclusion, with its inclusive and extensive features, has provided a new impetus for economic development [...] Read more.
The sustainable development of a country requires stable funds to reshape and restore its economy, something which cannot be separated from the support of financial services. Digital financial inclusion, with its inclusive and extensive features, has provided a new impetus for economic development and governance. Based on the panel data of 193 counties in 5 provinces of northwest China from 2014 to 2021, this paper uses a bi-directional fixed effect model, an intermediary effect model and a threshold effect model in order to test digital inclusive finance and county-level economic resilience, and to explore the internal correlation details. The results show that digital inclusive finance will significantly enhance the economic resilience of the five northwestern provinces by improving capital allocation efficiency, enhancing entrepreneurship and employment vitality, and reducing pollution emissions. In addition, there is a double threshold effect between capital allocation efficiency and employment vitality, in which the threshold effect of capital allocation efficiency presents a progressively increasing state, and in which the threshold effect of entrepreneurship and employment vitality presents a state of fluctuating increase. Therefore, China needs to further improve the digital inclusive financial environment in its northwest; continue and deepen the significant functions of digital inclusive finance in resource allocation efficiency, entrepreneurship and employment vitality, and environmental protection; and provide guidance for solving regional imbalances and promoting national sustainable development. Full article
(This article belongs to the Section Sustainable Management)
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