International Review of Economics & Finance最新文献

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High-speed rail and urban energy efficiency: Evidence from China
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-29 DOI: 10.1016/j.iref.2024.103761
Shuangyan Li, Dan Wang, Xiao Tan
{"title":"High-speed rail and urban energy efficiency: Evidence from China","authors":"Shuangyan Li,&nbsp;Dan Wang,&nbsp;Xiao Tan","doi":"10.1016/j.iref.2024.103761","DOIUrl":"10.1016/j.iref.2024.103761","url":null,"abstract":"<div><div>It is essential to explore the effect of high-speed rail on energy efficiency to develop medium and long-term green development plans and realize the “dual-carbon target” in China. We utilize urban nighttime light brightness data to measure the energy efficiency of 281 cities in China from 2006 to 2021. We investigate the relationship between the high-speed rail opening and the energy efficiency of cities using the difference-in-differences model. Further, we examine the temporal dynamics of urban energy efficiency improvement by the opening of high-speed rail. We find that the high-speed rail opening significantly improves urban energy efficiency, in which the long-term effect is more influential than the short-term. In addition, we explore the heterogeneity of geographic location, city level, and city size. The results suggest that the high-speed rail opening has a more significant effect on energy efficiency in the eastern region, first-tier cities, and large cities, providing evidence of the “siphon effect” of HSR. Four robustness tests confirm the reliability of the research: replacing core explanatory variables, PSM-DID, counterfactual test, and instrumental variable method.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103761"},"PeriodicalIF":4.8,"publicationDate":"2024-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142758885","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Can the precision poverty reduction policy stimulate enterprise total factor productivity?
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-28 DOI: 10.1016/j.iref.2024.103770
Wenjing Lu
{"title":"Can the precision poverty reduction policy stimulate enterprise total factor productivity?","authors":"Wenjing Lu","doi":"10.1016/j.iref.2024.103770","DOIUrl":"10.1016/j.iref.2024.103770","url":null,"abstract":"<div><div>This research investigates the correlation between targeted poverty reduction policies and the overall efficiency of enterprises, as measured by total factor productivity. This article presents findings from a study conducted between 2017 and 2022, which demonstrate that implementing a precise poverty reduction program may enhance enterprises' total factor productivity. Moreover, the beneficial effects are achieved by reducing financial limitations and enhancing external oversight. Examining many characteristics reveals that the ownership of enterprises and the proportion of female CEOs have varying effects. The findings offer firms a comprehensive comprehension of how adhering to national policies and meeting social duties may substantially help their high-quality growth. Furthermore, these findings provide helpful policy recommendations for enhancing and broadening the successes of poverty elimination, mitigating relative poverty, and fostering rural rejuvenation in the post-poor eradication period.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103770"},"PeriodicalIF":4.8,"publicationDate":"2024-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142758886","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
CEO green background and enterprise green innovation
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-28 DOI: 10.1016/j.iref.2024.103765
Weixuan Hu, Shuling Shi
{"title":"CEO green background and enterprise green innovation","authors":"Weixuan Hu,&nbsp;Shuling Shi","doi":"10.1016/j.iref.2024.103765","DOIUrl":"10.1016/j.iref.2024.103765","url":null,"abstract":"<div><div>Utilizing data from A-share listed companies from 2007 to 2021, this paper delves into the influence of CEOs' green backgrounds on corporate green innovation and the moderating effect of ownership concentration. The results indicate that a CEO's green background significantly and positively enhances corporate green innovation. Furthermore, ownership concentration positively moderates the relationship between a CEO's green background and corporate green innovation. Additionally, the impact of a CEO's green background on green innovation is more pronounced in companies located in the central and western regions, non-state-owned enterprises, and non-high-tech industries.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103765"},"PeriodicalIF":4.8,"publicationDate":"2024-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142758884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Can intelligent development improve manufacturing firms' supply chain resilience?
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-27 DOI: 10.1016/j.iref.2024.103753
Lijuan Ma , Huiyu Wang , Congna He , Xiang Sui
{"title":"Can intelligent development improve manufacturing firms' supply chain resilience?","authors":"Lijuan Ma ,&nbsp;Huiyu Wang ,&nbsp;Congna He ,&nbsp;Xiang Sui","doi":"10.1016/j.iref.2024.103753","DOIUrl":"10.1016/j.iref.2024.103753","url":null,"abstract":"<div><div>Amidst the worldwide spread of the COVID-19 pandemic and growing uncertainties in the external environment, intelligent development has emerged as a crucial strategy for businesses to strengthen their ability to withstand external shocks and achieve sustainable growth. This paper examines the relationship between intelligent development and supply chain's resilience in manufacturing firms. Based on listed firms from 2011 to 2022, this paper adopts two-fixed model to explore the effects and underlying mechanisms. The findings indicate that intelligent development can effectively promote supply chain's resilience in manufacturing firms, and the impact is achieved by improving supply chain's efficiency, stimulating productivity effect and alleviating long-wipe effect. Heterogeneous analysis confirms that firms' ownership and industry nature play a critical role.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103753"},"PeriodicalIF":4.8,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Population aging, fintech, and agricultural economic resilience
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-27 DOI: 10.1016/j.iref.2024.103756
Zongzhi Yang , Yali Li , Chanti Wu
{"title":"Population aging, fintech, and agricultural economic resilience","authors":"Zongzhi Yang ,&nbsp;Yali Li ,&nbsp;Chanti Wu","doi":"10.1016/j.iref.2024.103756","DOIUrl":"10.1016/j.iref.2024.103756","url":null,"abstract":"<div><div>This paper takes the data of 31 provinces and cities in China from 2012 to 2022 as a sample to study the relationship between population aging, financial science and technology, and agricultural economic resilience, and the empirical study finds that population aging negatively affects agricultural economic resilience; the development of financial science and technology strengthens agricultural economic resilience; agricultural technology innovation plays an essential intermediary role; the impact of population aging on agricultural economic resilience varies in different regions.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103756"},"PeriodicalIF":4.8,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of supply chain digitization and logistics efficiency on the competitiveness of industrial enterprises
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-27 DOI: 10.1016/j.iref.2024.103759
Zirong Wang, Liwei Gao, Wanyu Wang
{"title":"The impact of supply chain digitization and logistics efficiency on the competitiveness of industrial enterprises","authors":"Zirong Wang,&nbsp;Liwei Gao,&nbsp;Wanyu Wang","doi":"10.1016/j.iref.2024.103759","DOIUrl":"10.1016/j.iref.2024.103759","url":null,"abstract":"<div><div>This paper selects data from Chinese listed companies in the industrial sector from 2011 to 2022 as samples to explore the impact of supply chain digitization and logistics efficiency on the competitiveness of industrial enterprises. The study finds that the degree of supply chain digitization can enhance the competitiveness of industrial enterprises; logistics efficiency can help industrial enterprises improve their competitiveness; environmental regulation plays a positive moderating role in the relationship between logistics efficiency and the competitiveness of industrial enterprises; there is heterogeneity in the impact of supply chain digitization on the competitiveness of state-owned industrial enterprises and non-state-owned industrial enterprises, with a greater impact on the competitiveness of state-owned industrial enterprises than on non-state-owned ones. There is a significant difference in the impact of logistics efficiency on the competitiveness of state-owned industrial enterprises and non-state-owned industrial enterprises, with a noticeably greater impact on the competitiveness of non-state-owned industrial enterprises than on state-owned ones.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103759"},"PeriodicalIF":4.8,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142758883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Government environmental regulation, media attention, and corporate green innovation
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-27 DOI: 10.1016/j.iref.2024.103751
Zhaoguang Liao , Luan Xiao
{"title":"Government environmental regulation, media attention, and corporate green innovation","authors":"Zhaoguang Liao ,&nbsp;Luan Xiao","doi":"10.1016/j.iref.2024.103751","DOIUrl":"10.1016/j.iref.2024.103751","url":null,"abstract":"<div><div>This paper examines the impact of government environmental regulation on corporate green innovation. Empirical analysis reveals that government environmental regulation promotes corporate green innovation activities. The results are validated through endogeneity and robustness tests. Mechanism analysis indicates that media attention partially mediates this relationship, while corporate environmental responsibility plays a positive moderating role. Finally, a heterogeneity analysis shows significant differences in the regulatory effects across different types of enterprises.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103751"},"PeriodicalIF":4.8,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Substantive innovation or strategic catering: Capital market pressure and corporate green innovation structure
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-27 DOI: 10.1016/j.iref.2024.103752
Yingyuan Liu , Wenhui Chen , Xinyu He
{"title":"Substantive innovation or strategic catering: Capital market pressure and corporate green innovation structure","authors":"Yingyuan Liu ,&nbsp;Wenhui Chen ,&nbsp;Xinyu He","doi":"10.1016/j.iref.2024.103752","DOIUrl":"10.1016/j.iref.2024.103752","url":null,"abstract":"<div><div>Green innovation requires a market environment willing to take on more risk and accept failure. Capital markets are essential in green innovation because they can spread out the risks associated with innovation. Compared to existing research, this paper focuses on the impact and processes of the short-selling mechanism on corporate green technology innovation structure. Specifically, this study utilizes a difference-in-difference model to examine the effects and underlying mechanisms based on the listed firms from 2011 to 2022. The results suggest that the pressure from the capital market might encourage the development of green technological innovation in corporations. Still, it also hinders the establishment of a structure for corporate green innovation and fosters the expansion of strategic patent behavior. The influence is achieved through enhancing managerial performance, monitoring external pressures, and transmitting stock price information. Heterogeneous analysis confirms that independent directors ratio and CEO duality play a critical role. The findings demonstrate how capital market pressure can affect corporate green innovation structure, support the critical role of capital market and contribute to further engagement in corporate green technology innovation.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103752"},"PeriodicalIF":4.8,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747154","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Can institutional openness policies enhance corporate technology innovation efficiency?Evidence from the establishment of Free Trade Zone
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-27 DOI: 10.1016/j.iref.2024.103754
Yan Li
{"title":"Can institutional openness policies enhance corporate technology innovation efficiency?Evidence from the establishment of Free Trade Zone","authors":"Yan Li","doi":"10.1016/j.iref.2024.103754","DOIUrl":"10.1016/j.iref.2024.103754","url":null,"abstract":"<div><div>The establishment of Free Trade Zones (FTZs) is a testing ground for deepening reform in the new era. It is a significant endeavour for China to investigate institutional innovation, execute an innovation-driven development strategy, and raise the quality of economic development. This study examines a sample of Chinese A-share listed companies from 2009 to 2022 and explores the positive relationship between institutional openness, represented by China's Free Trade Zone, on corporate technology innovation efficiency. The findings highlight that introducing China's Free Trade Zone can strengthen corporate technology innovation efficiency. Furthermore, the stimulating impacts of China's Free Trade Zone on corporate technology innovation efficiency are attained through alleviating corporate financing constraints and facilitating innovative knowledge flow. Heterogeneous analysis confirms that firms' ownership and industry nature play a critical role. The findings demonstrate how institutional openness can enhance stimulate corporate technology innovation efficiency, support the critical role of openness in stimulating corporate technology innovation capability, and contribute to further institutional openness.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103754"},"PeriodicalIF":4.8,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142747155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Analysis of the impact of macroeconomic factors on cryptocurrency returns - Based on quantile regression study
IF 4.8 2区 经济学
International Review of Economics & Finance Pub Date : 2024-11-27 DOI: 10.1016/j.iref.2024.103757
Minghui Lin , Ye Liu , Vincent Ng Kim Sheng
{"title":"Analysis of the impact of macroeconomic factors on cryptocurrency returns - Based on quantile regression study","authors":"Minghui Lin ,&nbsp;Ye Liu ,&nbsp;Vincent Ng Kim Sheng","doi":"10.1016/j.iref.2024.103757","DOIUrl":"10.1016/j.iref.2024.103757","url":null,"abstract":"<div><div>This paper uses data from January 2018 to early May 2024 as a sample to study the impact of macroeconomic factors on cryptocurrency returns. The empirical study finds that the price index of means of production significantly negatively impacts bitcoin returns. The US dollar exchange rate also significantly negatively impacts bitcoin returns, while Treasury yields have a positive effect.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"97 ","pages":"Article 103757"},"PeriodicalIF":4.8,"publicationDate":"2024-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142758887","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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