Search Results (757)

This paper examines how marketization influences the spatial effects of household consumption upgrading in China, by analyzing provincial panel data from China between 2010 and 2022. The study employs a two-way fixed-effects Spatial Durbin Model to capture both the direct effects of marketization within a region and the spillover effects transmitted to neighboring regions. This model incorporates spatial dependence in both dependent and independent variables, providing a comprehensive assessment of spatial interactions. The results reveal that marketization and consumption upgrading both have the spatial pattern characteristics of significant spatial difference and agglomeration features. Marketization considerably encourages the upgrading of local people’s consumption and has positive spillover effects on the consumption upgrading levels of nearby regions. Mechanism analysis shows that market competition and enterprise innovation play key roles in this process. Heterogeneity analysis shows in eastern regions, areas with high industrial upgrading levels, high financial agglomeration levels, and high house prices, and the promotion effect of marketization on household consumption upgrading is more pronounced. These findings suggest that promoting differentiated regional marketization reforms, amplifying the spillover effects of marketization, reinforcing the dual engine of competition and innovation, and strengthening industrial upgrading and financial agglomeration are key to promote Chinese household consumption upgrading. Full article

Post-activation performance enhancement (PAPE) is an acute performance increase in voluntary exercises induced by a conditioning activity. Due to the scarcity of evidence about the effectiveness of distinct protocols, the aim of this study was to compare the effects of two different flywheel PAPE protocols (half-squat and lunge exercises) on vertical and horizontal jump performance, as well as change-of-direction ability in female amateur footballers (n = 21). Each protocol consisted of 3 sets of 6 repetitions for the half-squat protocol or 10 repetitions for the lunge protocol, with two minutes of passive rest, performed with a conical pulley. Both protocols were followed by rests of two, eight, and twelve minutes for repeated countermovement jump (CMJ), triple hop, and change-of-direction test (modified T-505) testing. The fixed-effect model 2-ways-repeated measures ANOVA showed that there was no significant interaction between time and exercises performed (p > 0.05). There was no significant relationship between exercise specificity and performance in sport-specific tasks. Our results suggest that, within this population, neither flywheel protocol provided measurable PAPE benefits across varied time windows. The findings underscore the importance of strength levels in achieving PAPE benefits and question the specificity of PAPE protocols to targeted sport performance outcomes. Full article

Amid escalating global climate change and the urgent international demand for low-carbon development, enhancing the greenization level of manufacturing industrial chains has emerged as a critical policy priority. This study investigates the impact of environmental regulation on the greenization of China’s manufacturing industrial chains using provincial panel data from 30 regions (2010–2022), employing two-way fixed effects and spatial Durbin models. The results demonstrate that environmental regulation significantly promotes industrial chain greenization through three pathways: industrial structure rationalization, green technology innovation, and industrialization advancement. Heterogeneity analysis reveals stronger regulatory effects in regions characterized by coal-dependent energy structures, low shares of energy-intensive industries, and underdeveloped digital economies, while negligible impacts are observed in areas with cleaner energy mixes, high energy-intensive industrial concentrations, or advanced digitalization. Spatial econometric results confirm positive spatial spillovers, indicating that environmental regulation in one region enhances neighboring areas’ greenization through policy coordination and technology diffusion. Based on these findings, this study proposes tailored policy recommendations, including strengthening regulation in coal-reliant regions, optimizing industrial structures in energy-intensive hubs, and fostering cross-regional governance synergy to mitigate pollution haven effects. The research provides novel insights into achieving sustainable manufacturing transitions under the “dual carbon” framework. Full article

The environmental protection expenditure of enterprises is an important investment in the process of developing green innovation. Although a large number of researchers have evaluated the factors promoting green innovation, few have studied the impact of environmental protection expenditure of enterprises on green innovation, and signal transmission is an important mechanism. This paper selects the data of China’s Shanghai and Shenzhen A-share listed companies from 2012 to 2023, obtains the data of enterprise environmental protection investment through a manual collection and keyword screening method, and analyzes the micro impact of enterprise environmental protection investment on green innovation output by using a two-way fixed corresponding method. The empirical results show that the environmental protection expenditure of enterprises will significantly promote green innovation. At the same time, the green innovation effect of enterprise environmental protection expenditure is also different due to enterprise scale, financing constraints, and life cycle. At the same time, this paper verifies the signal transmission mechanism of enterprises’ environmental protection expenditure, that is, enterprises’ investment in environmental protection which will release positive signals to the outside so as to strive for more social resources. Further empirical analysis verifies the promotion effect of enterprise environmental protection expenditure on performance. This paper asserts that enterprises should play a positive role in environmental protection investment, and government departments should increase support for enterprises. Full article

Using a firm-level panel of China’s heavily polluting industries from 2014 to 2023, this paper employs two-way fixed-effects regressions and a battery of robustness checks to examine how ESG performance affects corporate financing constraints and the channels through which effects operate. We uncover a paradox: overall ESG performance is associated with reduced financing constraint, whereas the environmental subcomponent alone significantly aggravates firms’ financing difficulties. Moderating analyses show that stricter regional environmental regulations and higher persistence in firms’ innovation outputs weaken the easing effect of aggregate ESG performance and may even fully offset it under certain conditions. Mechanism tests reveal that ESG mitigates constraints mainly by enhancing corporate reputation and curbing green agency costs. Heterogeneity analyses further indicate that the environmental-induced tightening effect is more pronounced in state-owned enterprises, firms in eastern provinces, and those located in regions with lower levels of new-quality productivity. These findings point to a trade-off between the short-term compliance costs of environmental investment and the longer-run signaling and informational benefits of ESG disclosure. Policy implications include the need for targeted green-finance support, improved ESG transparency and verification, and measures to accelerate innovation pathways that shorten the payback period for environmental investments. Full article

Digital literacy (DL) among farmers serves as a vital link between digital technology and green sustainable development, significantly enhancing agricultural green total factor productivity (AGTFP). This study employs panel data from the China Family Panel Studies (CFPS) covering 2014–2020, applying a two-way fixed effects model and machine learning techniques to examine the influence of farmers’ digital literacy on AGTFP. The results indicate that DL positively contributes to AGTFP. Further heterogeneity analysis shows stronger effects among male farmers, households with low trust, and those within the working-age population. Mechanism analysis indicates that social capital accumulation mediates the relationship, whereas agricultural socialization services strengthen the positive impact of DL on AGTFP. Additional analysis using machine learning models reveals that the impact of farmers’ digital literacy on AGTFP changes over time. Specifically, entertainment and learning-oriented network use enhances AGTFP, whereas work-related, social, and lifestyle-related use suppresses it. This study offers a more nuanced understanding by shifting from traditional macro-level frameworks to a micro-level perspective focused on farmers’ digital literacy. Moreover, the innovative application of explainable machine learning provides empirical evidence for the underlying drivers of AGTFP. Full article

Amid China’s pursuit of its “dual carbon” goals, systematic theoretical and empirical research remains limited to the potential role of artificial intelligence (AI) in enhancing firms’ carbon emission performance (CEP). From a systems perspective, this study developed a dynamic learning game model that integrates a constant elasticity of substitution (CES) production function, an AI-enabled abatement function, and institutional constraints to analyze firms’ cleaner production and technology adoption under simultaneous budgetary and emission constraints. Empirically, we drew on panel data of 3404 Chinese A-share listed firms from 2013 to 2023 and employ a two-way fixed-effect model to examine the effect of AI empowerment on CEP. The results showed that AI significantly improves CEP overall, though its effect is potentially constrained by energy rebound effects. Robustness checks using alternative measures and specifications confirmed the reliability of the findings and further indicated that AI’s abatement effect became stronger after 2018, consistent with technological maturity and institutional improvement. Mechanism analysis suggests two plausible pathways: (1) improving ESG performance and strengthening environmental governance; and (2) stimulating green innovation to support low-carbon technology development and application. Heterogeneity analysis indicates that AI’s effects are more evident in regions with higher marketization, in private firms, and in non-pollution-intensive industries. By contrast, firms led by executives with overseas experience tend to exhibit weaker effects, a pattern consistent with institutional fit and localization considerations. This study contributes to cleaner production theory by highlighting firm-level mechanisms of AI-enabled carbon governance while offering practical insights for low-carbon transitions and digital decarbonization strategies in developing economies. Full article

With the continuous expansion of the digital economy, its share in China’s overall economy has been steadily increasing. Against the backdrop of the national “dual-carbon” goals, an important question arises: how does the digital economy contribute to carbon reduction? This study selects panel data from nine cities in the Pearl River Delta (PRD) urban agglomeration between 2011 and 2023. The development level of the digital economy is measured using the entropy weight method and an index system. A two-way fixed effects model and a mediation effect model are then employed to empirically examine the relationship and mechanisms between the digital economy and urban carbon emissions. The main findings are as follows: (1) the development of the digital economy exerts a significant negative regulatory effect on carbon emissions, which remains robust after a series of tests; (2) heterogeneity analysis reveals that the inhibitory effect of the digital economy on carbon emissions is more evident in economically advanced cities, and the development level of metropolitan areas significantly influences this relationship; (3) mechanism analysis indicates that stronger environmental regulation significantly enhances the carbon reduction effect of the digital economy; and (4) the scale of e-commerce in the PRD plays a “suppression effect”, offsetting the original carbon-increasing effect of the digital economy and emerging as the key factor underlying its net carbon-reducing impact. Based on these results, the paper provides policy recommendations to better leverage the digital economy in supporting regional carbon reduction. Full article

Using a balanced provincial panel of 31 Chinese regions (2014–2022), this study examines how Digital Inclusive Finance (DIF) and Rural E-Commerce (RE) jointly shape the urban–rural income gap. Two-way fixed effects and instrumental-variable estimators mitigate confounding. Both DIF and RE are associated with narrower gaps, and the interaction term is negative and robust across specifications. Mechanism evidence indicates that the coupling operates through higher Agricultural Green Total Factor Productivity, expanded rural credit supply, and stronger entrepreneurship. Effects are larger in Central/Western provinces and are most pronounced when DIF’s usage-depth and digital-support components are salient. For policymakers and managers, the findings support bundled investments in digital rails, platform logistics, and e-commerce–linked credit, with priority to lagging regions and programs that deepen usage. Overall, the results provide a tractable systems approach to aligning finance and markets for inclusive rural transformation. Full article

Background and Clinical Significance: Early lead failure after dual-chamber pacemaker implantation is rare but clinically significant, particularly when associated with thromboembolic complications. Technical pitfalls at the time of implantation, such as suture fixation without protective sleeves, may be predisposed to premature lead damage and abrupt device malfunction. This case highlights the role of device interrogation in diagnosing arrhythmia-related stroke, the challenges of reimplantation in the setting of venous occlusion and anticoagulation, and the value of leadless pacing as a safe rescue strategy. Case Presentation: A 78-year-old man with a history of complete atrioventricular block underwent dual-chamber pacemaker implantation one year earlier. He presented to the emergency department with acute aphasia, right-sided hemiparesis, and facial asymmetry. Stroke was diagnosed, and new-onset atrial fibrillation was documented. Device interrogation revealed an abrupt fall in lead impedance followed by a sharp rise consistent with lead insulation failure and premature battery depletion. Fluoroscopy demonstrated multiple focal narrowings of the leads and complete left subclavian vein occlusion, making conventional transvenous reimplantation unfeasible, while extraction was judged high risk. Right-sided reimplantation was avoided due to hemorrhagic risk under anticoagulation. A leadless pacemaker was implanted successfully in the apico-septal region of the right ventricle via ultrasound-guided femoral access. Hemostasis was secured with a figure-of-8 suture fixed inside a 3-way tap, providing constant compression and preventing hematoma. At two-months follow-up, device function was stable and neurological recovery was favorable (mRS = 2). Conclusions: This case underscores how multiple adverse factors—stroke, arrhythmia detection, early device failure, venous occlusion, and anticoagulation—may converge in a single patient, and demonstrates leadless pacing as a safe and effective rescue strategy in such complex scenarios. Full article

Against the backdrop of rapid population aging and a high prevalence of cognitive impairment in China, identifying modifiable environmental risk factors is a public health priority. Although environmental noise is widely recognized as a significant stressor, its effects on cognitive health remain underexplored within the Chinese context. Drawing on balanced panel data from three waves of the China Health and Retirement Longitudinal Study (CHARLS), we examined 3459 individuals aged 45 and above to assess the association between noise pollution and cognitive function using a two-way fixed-effects model. Additionally, we employed a chained mediation approach to investigate whether sleep disturbances and depressive symptoms serve as intermediary mechanisms. The findings indicated a significant inverse relationship: each unit increase in the noise pollution index corresponded to a 0.41-point reduction in overall cognitive scores. These results were robust across various noise exposure measures. Sensitivity analyses using alternative noise metrics also supported this finding. Sleep duration and depression were identified as significant mediators in the relationship between noise pollution and cognitive decline. This longitudinal analysis offers compelling evidence that environmental noise constitutes a substantial risk factor for declining cognitive function in middle-aged and older adults in China. Full article

Based on the Cost Theory and Porter’s Hypothesis, this study focuses on high-carbon-emission enterprises and systematically explores how carbon risk affects their value creation. The sample comprises listed firms in high-carbon-emission industries listed on China’s Shanghai and Shenzhen A-shares during 2012–2022. A carbon risk measurement index is constructed using industrial energy consumption data, and a two-way fixed-effects model is employed to empirically test the relationship between carbon risk and value creation of these enterprises. Further, the internal mechanisms by which debt financing costs and innovation R&D expenditures influence the impact of carbon risk on enterprise value creation are analyzed separately. Finally, differences in the inhibitory effect of carbon risk on value creation across heterogeneous enterprises are examined. The results show that carbon risk significantly reduces value creation. It raises debt financing costs and diverts resources away from innovation, weakening firms’ capacity to create value. The negative effect is stronger for small firms, non-state-owned firms, and younger firms. The findings provide evidence for policymakers to improve carbon pricing mechanisms, for financial institutions to better assess climate risk, and for firms to develop effective carbon risk management strategies. Overall, the study offers practical implications for promoting a green and low-carbon transition in the real economy. Full article

This paper investigates the role of digital marketing signals as alternative data for understanding financial and operational dynamics in the beverage supply chain. Drawing on web analytics covering multiple actors across a five-month horizon, we analyze traffic composition, user engagement, and acquisition channels through a panel econometric framework. Descriptive statistics reveal pronounced heterogeneity in channel reliance, with some firms emphasizing organic search visibility while others depend more on paid campaigns or social referrals. Correlation patterns indicate strong substitution between organic and paid search, while display advertising is positively associated with session depth, suggesting that differentiated digital strategies influence user engagement. Analysis of variance confirms significant structural differences across firms, with an effect size exceeding 0.90. A two-way fixed-effects regression demonstrates that brand-specific factors explain the vast majority of variation in digital visibility, overshadowing short-term fluctuations. These results highlight the potential of web-derived marketing metrics to serve as leading indicators of supply chain finance outcomes such as revenue growth, working-capital efficiency, and investor sentiment. By integrating digital signals into financial econometrics, this study contributes to emerging research on alternative data in supply chain contexts and offers practical implications for managers, investors, and policymakers. Full article

How to achieve common prosperity has become the key to enhancing residents’ well-being in digital government construction (DG), which is particularly important for developing countries with relatively large income gaps. Using Chinese provincial panel data from 2018 to 2023, this study employs the entropy weight method and two-way fixed effects models to empirically examine the nonlinear impact of digital government development on common prosperity. This study has found that DG has a significant U-shaped impact on common prosperity, which first inhibits and then promotes. This effect operates primarily through improving digital inclusive finance and increasing education expenditure. Regional heterogeneity analysis indicates that the U-shaped relationship is more significant in the eastern region. From a single dimension of DG, service supply capacity and service intelligence capacity have a significant U-shaped impact on common prosperity. This study enriches the theory of the relationship between DG and common prosperity, providing policy references for promoting common prosperity and sustainable development. Full article

As China advances its green transition, digital finance broadens firms’ access to external financing; however, whether improved access enhances financial allocation efficiency or drives green technology innovation remains unclear. This study addresses this through a dual-layer framework examining financing mechanisms and governance conditions. Using panel data from 2165 Chinese A-share firms (2011–2022) with two-way fixed-effects models, the analysis yields three key findings: First, digital finance significantly enhances green technology innovation. Second, financial mismatch partially mediates this relationship. Third, governance moderates these effects. Equity incentives exhibit threshold effects, where positive impacts emerge only above certain levels. Cash incentives, however, vary by period: they are positive in 2011–2018 and negative in 2019–2022. These results underscore that financial reform must accompany governance improvements, especially equity incentives. The Chinese experience also provides insights for emerging economies navigating digital finance expansion and green transition. Full article