Search Results (13)

China’s agricultural development not only has the weakness of insufficient technological investment but also faces the constraint of a shortage of financial support. In this context, promoting the combination of technology with finance in agricultural production activities is very important for China’s agricultural modernization. Based on two batches of “the pilot policy for promoting the combination of science and technology with finance”, this paper investigates the policy effect and mechanism of sci-tech finance on agricultural production efficiency. The results show that sci-tech finance policy is able to promote the improvement of agricultural production efficiency significantly in pilot areas compared with non-pilot areas, and this treatment effect continues to expand over a long period after the implementation of the policy. In terms of space partition, the agricultural support effect of sci-tech finance not only shows regional heterogeneity but also performs better in cities with weaker technological innovation ability and a lower degree of financial deepening. The “offering fuel in snowy weather” effect on non-central cities is stronger than the “adding brilliance to its present splendor” effect on central cities. Lastly, the sci-tech finance policy successfully builds a long-term mechanism for policies to take effect at multiple points and continues to exert force from three aspects: accelerating the process of agricultural mechanization, promoting the development of modern rural industries and improving the human capital of farmers. The research conclusions provide policy recommendations for promoting science and technology finance from policy pilot to comprehensive promotion, and promoting and implementing the construction of agricultural power, for example, by “strengthening agricultural science and technology and equipment support” and “improving [the] rural financial service system” proposed by the report of the 20th National Congress. Full article

Digital technologies such as big data are reshaping resource allocation, raising interest in whether and how heterogeneous science and technology innovation (STI) policies can help unlock urban carbon lock-in. Using panel data for 286 prefecture-level cities in China from 2009 to 2023, this paper examines the relationship between heterogeneous STI policy intensity—classified as supply-side, demand-side, complementary-factor, and institutional-reform policies—and urban carbon unlocking efficiency. We develop a mechanism-based framework and empirically assess (i) the moderating roles of digital infrastructure, science and technology finance, and government green attention, and (ii) spatial spillover effects using spatial econometric models. The results show that all four policy types show a significant positive association with local carbon unlocking efficiency, with institutional-reform policies exhibiting the strongest association. When the four types are included jointly, only supply-side and demand-side policies retain statistically significant direct associations. Heterogeneity analyses indicate that demand-side, complementary-factor, and institutional-reform policies are more strongly associated with efficiency gains in low-pollution cities, whereas supply-side and demand-side policies have a stronger association in high energy-consuming cities. Mechanism analysis reveals that regional digital infrastructure exerts a selective moderating effect on the relationship between heterogeneous sci-tech innovation policies and urban carbon emission reduction efficiency. It positively reinforces the effectiveness of supply-side, demand-side, and institutional reform-oriented policies, while its interaction with complementary policies is statistically insignificant. Technology finance and government green policies function as a “resource catalyst” and an “institutional guarantee” respectively, significantly enhancing the correlation between heterogeneous sci-tech innovation policies and urban carbon emission reduction efficiency. Finally, carbon unlocking efficiency displays significant spatial dependence: the intensity of supply-side and institutional-reform policies is positively associated with carbon unlocking efficiency in neighboring cities, while complementary-factor policies exhibit a negative spatial association. Overall, the findings provide empirical evidence to inform the design and coordination of heterogeneous STI policy portfolios aimed at improving urban carbon unlocking efficiency. Full article

Rural revitalization constitutes a vital strategic initiative in advancing China’s socialist modernization. At the 2023 Central Economic Work Conference, the objective of building China into a financial powerhouse was formally articulated, thereby establishing higher benchmarks for financial support of rural revitalization. A critical question arising from this agenda is how to simultaneously advance agricultural technological innovation while effectively implementing green development principles. Accordingly, it is essential to investigate the role of the integrated development of sci-tech finance and green finance in promoting rural revitalization. Against this backdrop, this study employs provincial-level panel data from China spanning the period from 2011 to 2021. A two-way fixed effects model is adopted to examine the impact of the integrated development of sci-tech finance and green finance on rural revitalization. The analysis identifies three primary transmission mechanisms: financial supply, green agricultural development, and linkages between smallholder farmers and modern agriculture. Furthermore, the study explores heterogeneity across different financial environments from two dimensions: the level of digital inclusive finance development and the intensity of financial regulation. The empirical results indicate that (1) the integrated development of sci-tech finance and green finance significantly promotes rural revitalization, exhibiting a nonlinear effect whereby its catalytic impact intensifies markedly once the coupling coordination between the two surpasses a critical threshold; (2) such integration alleviates rural financing constraints, enhances agricultural green total factor productivity, and facilitates rural revitalization through the establishment of green agricultural cooperatives; and (3) the enhanced impact of this holistic progress is particularly noticeable in areas with advanced digital financial inclusion and robust financial oversight. In light of these results, this research puts forth three policy suggestions. First, institutional and policy preparations for integrating green finance and sci-tech finance should be accelerated through coordinated government policies, financial product innovation, and financial market reforms. Second, the channels through which sci-tech finance and green finance support rural revitalization should be strengthened by expanding agricultural credit, improving the coverage of rural financial institutions, and fostering specialized green agricultural cooperatives. Third, the financial ecosystem should be optimized by prioritizing investment in digital infrastructure and reinforcing financial supervision throughout the development of digital inclusive finance, particularly in rural regions. Full article

To advance breakthroughs in core technologies and foster the growth of technology-based enterprises, China has introduced the Sci-Tech Finance Pilot Policy with the aim of promoting sci-tech enterprise development through optimized financial resource allocation. Based on a sample of technology-based firms listed on China’s SME Board and ChiNext Board from 2009 to 2023, this study empirically examines the relationships between the Sci-Tech Finance Pilot Policy, scale expansion, and technological innovation using a multi-period Difference-in-Differences (DID) model. The key findings reveal that, first, the Sci-Tech Finance Pilot Policy simultaneously promotes corporate scale expansion and technological innovation, generating both scale and innovation effects; second, it generates scale and innovation effects by optimizing financial resource allocation, while scale expansion further induces additional innovation effects. Third, heterogeneity analysis reveals that the innovation effect of the Sci-Tech Finance Pilot Policy is stronger, and the scale effect is weaker when the technology-based enterprise is privately owned, possesses a solid R&D foundation, or operates in a favorable external innovation environment. The findings of this study demonstrate that technology finance policy promotes high-quality development through the synergy between scale and innovation, providing policy implications for developing countries in implementing the United Nations Sustainable Development Goals. Full article

Climate policy uncertainty (CPU) poses formidable challenges to global sustainable development and corporate strategic planning, while intelligent transformation is emerging as a pivotal enabler of organizational sustainability. Using panel data from Chinese A-share listed companies between 2011 and 2022, this study investigates the impact of climate policy uncertainty on intelligent transformation. The results indicate that CPU significantly promotes corporate intelligent transformation, a conclusion that remains robust under various sensitivity tests. Government innovation subsidies, enterprise absorption capacity, and enterprise human capital positively moderate this facilitating effect. A heterogeneity analysis reveals that the effect of CPU on intelligent transformation is more pronounced among firms in sci–tech finance pilot zones, regions with high digital financial inclusion, and those led by CEOs with banking experience. This paper contributes to the literature on climate policy uncertainty by examining its role in corporate intelligent transformation, offering actionable strategies for firms to mitigate climate risks while providing policy insights for developing economies to leverage smart technologies in addressing CPU. Full article

Based on the quasi-natural experiment of “the pilot policy of combining science and technology with finance” (Sci-Tech Finance pilot policy) carried out in China in recent years, this paper constructs a multi-stage difference-in-differences model to explore its impact on corporate ESG performance and the influence mechanisms. The main research findings of this paper are as follows: (1) The Sci-Tech Finance pilot policy significantly enhances corporate ESG performance, a finding that remains consistent after conducting parallel trends testing, propensity score matching, and placebo tests. (2) The policy promotes the corporate ESG performance through three intermediary channels, namely alleviating financial constraints, improving total factor productivity, and enhancing green technology innovation. Notably, the first two intermediary channels exhibit the most prominent effects. (3) The impact of the pilot policy on the corporate ESG performance exhibits heterogeneity at both the regional and corporate levels; it demonstrates a more pronounced impact on corporates located in the Eastern Region, within high digital economic zones, and among high-tech, capital-intensive, heavily polluting, and state-owned corporates. (4) The policy has apparent spatial spillover effects on corporate ESG performance, accounting for about 8% of the direct effect in the pilot areas. This study enriches the literature on the impacts of Sci-Tech Finance on corporate behaviors, providing insights for government regulatory authorities to leverage Sci-Tech Finance policies to promote corporate ESG performance and sustainable development. Full article

To balance economic development with environmental sustainability and address the challenges posed by the new wave of technological innovation, China has focused on leveraging the synergistic effects of technology and finance. This approach aims to promote urban green technology innovation (UGTI), which is critical in achieving innovation-driven, high-quality development. This study draws on two phases of China’s “Promoting the Integration of Technology and Finance Pilot” policy, implemented in 2011 and 2016. It utilizes data from 283 cities from 2007 to 2021 and employs a multiple-period difference-in-differences (DID) model to examine the effect, mechanisms, and heterogeneity of science and technology (sci-tech) finance policies on UGTI. The results indicate that (1) sci-tech finance policies significantly foster UGTI. (2) The mechanism analysis reveals that sci-tech finance policies stimulate UGTI by enhancing the agglomeration of scientific and technological talent and factor allocation. (3) The heterogeneity analysis shows that sci-tech finance policies have a considerably greater effect on UGTI in eastern and non-resource-based cities than in western and resource-based cities. Furthermore, strengthening intellectual property protection, advancing digitalization, and implementing suitable financial regulations amplify the green innovation effects of the sci-tech finance policies. Full article

This study examined the current developments in customer due diligence (CDD) in the financial technology (FinTech) era. The study of anti-money laundering (AML) and combating financing of terrorism (CFT) gained prominence after the 2007–2009 global financial crisis (GFC), in which administrative penalties were issued to financial institutions. Faced with AML regulatory compliance issues, technological solutions were or are still being developed. Thus, several technological innovation developments have shaped the future direction of the CDD aspects in the AML/CFT sphere. A bibliometric review and meta-analysis was employed for the study. The Scopus database was utilised to generate the dataset for the study, while SciVal was applied for research metric analysis. The major findings revealed that the key research themes in this area include anti-money laundering, banks and crime, and cryptocurrency, as well as blockchain and corruption. It was also established that most of the research done in this area is focused on the United Kingdom, the United States, and China. The integration of CDD with FinTech is still an emerging area that requires interdisciplinary collaborations. Full article

The present study accentuated a hybrid approach to evaluate the impact, association and discrepancies of demographic characteristics on a student’s job placement. The present study extracted several significant academic features that determine the Master of Business Administration (MBA) student placement and confirm the placed gender. This paper recommended a novel futuristic roadmap for students, parents, guardians, institutions, and companies to benefit at a certain level. Out of seven experiments, the first five experiments were conducted with deep statistical computations, and the last two experiments were performed with supervised machine learning approaches. On the one hand, the Support Vector Machine (SVM) outperformed others with the uppermost accuracy of 90% to predict the employment status. On the other hand, the Random Forest (RF) attained a maximum accuracy of 88% to recognize the gender of placed students. Further, several significant features are also recommended to identify the placement of gender and placement status. A statistical t-test at 0.05 significance level proved that the student’s gender did not influence their offered salary during job placement and MBA specializations Marketing and Finance (Mkt&Fin) and Marketing and Human Resource (Mkt&HR) (p > 0.05). Additionally, the result of the t-test also showed that gender did not affect student’s placement test percentage scores (p > 0.05) and degree streams such as Science and Technology (Sci&Tech), Commerce and Management (Comm&Mgmt). Others did not affect the offered salary (p > 0.05). Further, the ${\chi }^2$ test revealed a significant association between a student’s course specialization and student’s placement status (p < 0.05). It also proved that there is no significant association between a student’s degree and placement status (p > 0.05). The current study recommended automatic placement prediction with demographic impact identification for the higher educational universities and institutions that will help human communities (students, teachers, parents, institutions) to prepare for the future accordingly. Full article

A central-local dual governance system is the basic system of environmental governance in China. Co-governance between the central environmental protection department (CEPD) and local environmental protection departments (LEPDs) is an important means to effectively promote China’s carbon emission reduction strategy. Accordingly, this paper discusses their interactive decision-making and investigates how to optimize the strategic relationships between the CEPD, LEPDs, and carbon emission enterprises (CEEs) under the dual governance system by constructing a trilateral evolutionary game model and analyzing evolutionary stability strategies, achieving a numerical experiment simulation of evolution processes and determining the impacts of various factors using MATLAB, leading to several countermeasures and suggestions. The results indicate that the CEPD should rationally use the incentive mechanism for LEPDs, improve the carbon tax system, and further penalize the nepotistic relationship of LEPDs and CEEs. Furthermore, it is essential to reform the current LEPD performance evaluation system and reduce the cost of LEPD positive regulation through subsidies and financial transfer payments. Additionally, the CEE strategy is affected by carbon reduction tax rates, penalties, subsides, and emission reduction costs and revenues. This study reveals the consequences of interactions between CEPD, LEPDs, and CEEs and presents options for the redesign of incentive and regulatory mechanisms to improve carbon emission reduction performance in China. Full article

It is crucial to actively encourage the development of agriculture green technology, which has been regarded as one of the most effective solutions to the environmental degradation caused by agricultural activities. However, agriculture green technology diffusion is indeed a challenging task and still faces numerous barriers. The stakeholders who can potentially deal with these barriers, however, have been overlooked by previous studies. To address these issues, social network analysis was performed to identify critical stakeholders and barriers. Their interactions in agriculture green technology diffusion were analyzed based on the literature, a questionnaire survey and expert judgments. A two-mode network and two one-mode networks were used to analyze the relationships among the identified 12 barriers and 14 stakeholders who can influence these 12 barriers identified. The results show that agricultural research institutes, universities, agribusiness, agencies of township promotion, the government and farmers’ relatives are key stakeholders and that the limited market demand for green technology and the high cost of its diffusion are two main barriers. However, poor green technology operability and farmer families in distress are factors that are not as important as previously perceived. Finally, some recommendations and suggestions are provided to promote agriculture green technology diffusion in China. Full article

The rapid expansion of large cities in China has substantially increased energy consumption. With ever stringent environmental policy in force, energy efficiency becomes an important issue. As the emergence of these urban agglomerations (UAs) is usually due to externality effects of spatially concentrated factors, this paper investigates how these factors can affect energy efficiency. Based on mono index, which is used to describe the spatial location information, we have constructed the spatial-structure index of UAs. Using panel data on ten major UAs in China from 2008 to 2017, we find that, in the whole sample, there is an inverse relationship between the spatial structure of UAs and energy efficiency: The higher the concentration degree of factors of UAs, the lower the energy efficiency. Across different regions, however, the relationship between spatial structure and energy efficiency is heterogeneous. The concentration degree of factors in the eastern and central regions of China is relatively high, and the spatial structure there does lead to a decrease in energy efficiency. By contrast, UAs in China’s western region are in a period of factor concentration, with spatial structure playing, in that region, a positive role in improving energy efficiency. Full article

Labor, land, and funds are keys to revitalizing rural areas around the world. Previous studies have focused on the impacts of funds on agricultural production, but placed little emphasis on its role in agricultural land-use transformation. Thus, this study explores the quantitative relationship between agricultural credit and farmland abandonment from the perspective of rural revitalization. Using data on 8031 households from 27 provinces obtained from China’s Labor Force Dynamics Survey (CLDS), this study uses a Tobit model to examine the quantitative impacts of informal and formal agricultural credit on farmland abandonment. The results indicate that: (1) Access to agricultural credit helps to reduce farmland abandonment. (2) Compared with formal agricultural credit (provided by institutions), informal agricultural credit (provided by family and friends) is more significant in reducing farmland abandonment. Thus, this study enhances our understanding of the relationship between agricultural credit and farmland use. It will also prompt policymakers to improve rural financial markets in order to reduce the misallocation of farmland resources, thereby improving food security and rural economies. Full article