International Review of Economics & Finance最新文献_第5页

Rising temperatures, rising transparency: Revealing the financial benefits of climate change disclosure 气温上升，透明度提高：揭示气候变化信息披露带来的经济效益

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-28 DOI: 10.1016/j.iref.2025.104208

Antonio Salvi , Vitiana L'Abate , Felice Petruzzella , Filippo Vitolla , Nicola Raimo

引用次数: 0

The impact of consumer complaints on corporate digital transformation 消费者投诉对企业数字化转型的影响

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-28 DOI: 10.1016/j.iref.2025.104203

Yingchao Lu , Hailing Chang , Yadan Zhou

引用次数: 0

Market competitiveness and corporate ESG performance 市场竞争力与企业ESG绩效

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-28 DOI: 10.1016/j.iref.2025.104201

Taotao Zhang , Chuan Qin , Zhaoying Lu

{"title":"Market competitiveness and corporate ESG performance","authors":"Taotao Zhang , Chuan Qin , Zhaoying Lu","doi":"10.1016/j.iref.2025.104201","DOIUrl":"10.1016/j.iref.2025.104201","url":null,"abstract":"<div><div>This study investigates the relationship between firm-level market competitiveness and corporate environmental, social, and governance (ESG) performance, with a particular focus on the underlying mechanisms and moderating factors influencing this association. Using panel data from Chinese A-share listed firms, we find robust evidence that firms with higher market competitiveness, measured by branch network extensiveness, exhibit superior ESG performance. Empirical analysis further identifies resource allocation efficiency as a significant mediator: firms facing greater competitive pressure allocate resources more efficiently, which in turn positively affects ESG outcomes. Additionally, green innovation emerges as an important moderator, substantially enhancing the positive relationship between market competitiveness and ESG performance. Further heterogeneity analyses reveal nuanced patterns: the beneficial effects of competitiveness on ESG performance are more pronounced for larger firms, privately-owned enterprises, and those located in economically developed eastern regions. Notably, competitive pressures influence ESG dimensions differently, exerting the strongest positive effects on social performance, moderate impacts on governance performance, and no significant effect on environmental performance. Collectively, these findings highlight that market competitiveness generally promotes corporate sustainability, yet the extent and nature of this relationship vary according to firm characteristics, ownership structures, regional contexts, and ESG dimensions. This study provides comprehensive insights for policymakers and managers on leveraging competitive market environments to foster sustainable business practices.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104201"},"PeriodicalIF":4.8,"publicationDate":"2025-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144231634","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

Supply chain decarbonisation effects of artificial Intelligence: Evidence from China 人工智能对供应链脱碳的影响：来自中国的证据

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-27 DOI: 10.1016/j.iref.2025.104198

Baoping Ren , Zhaoxuan Qiu , Bei Liu

{"title":"Supply chain decarbonisation effects of artificial Intelligence: Evidence from China","authors":"Baoping Ren , Zhaoxuan Qiu , Bei Liu","doi":"10.1016/j.iref.2025.104198","DOIUrl":"10.1016/j.iref.2025.104198","url":null,"abstract":"<div><div>Existing studies have not yet discussed the synergetic decarbonisation effects among supply chain firms driven by artificial intelligence (AI) applied in leading focal firms, nor have they explored the corresponding mechanisms in depth. Focusing on the supply chain, this paper constructs a dataset with “focal firm - associated firm - year” observations, to examine the external spillover effects of AI on supply chain decarbonisation. Our findings reveal that AI employed by focal enterprises significantly contribute to curbing carbon emissions among associated enterprises within the supply chain, primarily through green technological innovation (GTI). The role of substantive GTI is predominant, whereas symbolic GTI appears to have an insignificant impact. Meanwhile, from the perspective of synergy, the vertical interaction effect of the supply chain and the horizontal peer effect of industry can strengthen the supply chain decarbonisation effect of AI technology. This paper provides a new synergetic insight for fully releasing the decarbonisation potential of AI based on supply chain interaction, providing empirical evidence and policy references to promote industrial green inclusive development and realize the global zero-carbon goal.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104198"},"PeriodicalIF":4.8,"publicationDate":"2025-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144189839","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

When will companies talk more about innovation? A natural experiment of intellectual property protection 企业什么时候会更多地谈论创新？知识产权保护的自然实验

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-27 DOI: 10.1016/j.iref.2025.104209

Kun Huang , Rui Huang , Yuanyuan Liu , Zhe Zhang

{"title":"When will companies talk more about innovation? A natural experiment of intellectual property protection","authors":"Kun Huang , Rui Huang , Yuanyuan Liu , Zhe Zhang","doi":"10.1016/j.iref.2025.104209","DOIUrl":"10.1016/j.iref.2025.104209","url":null,"abstract":"<div><div>We argue that strong protection of intellectual property rights lowers proprietary costs faced by companies, thereby safeguarding their disclosure of innovation information. This paper employs a natural experiment in China to investigate whether and how enhanced intellectual property judicial protection affects firms' innovation narrative practices. We find robust evidence that firms increase the narrative innovation disclosure after the establishment of intellectual property courts. In cross-sectional analyses, we observe that this effect is particularly pronounced in industries characterized by higher degree of R&D spillovers and among firms with weaker product market competitiveness. The findings are also more significant for firms operating under conditions of elevated information asymmetry and intensified financing constraints. Finally, we empirically demonstrate that heightened narrative innovation disclosure after the establishment of intellectual property courts has a deterring effect in decreasing the product similarity among peer firms. Our study investigates how judicial enforcement of intellectual property rights shapes corporate disclosure practices and has policy implications for both product and capital markets.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104209"},"PeriodicalIF":4.8,"publicationDate":"2025-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144184907","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 opening-up enhance enterprise innovation quality? 制度开放能否提高企业创新质量？

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-27 DOI: 10.1016/j.iref.2025.104200

Chiyu Ma, Yijun Xiang

引用次数: 0

Financial perceptions and AI infringement risks 财务认知和人工智能侵权风险

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-27 DOI: 10.1016/j.iref.2025.104204

Tian Wei , Han Wu , Michael Dowling , Aref Mahdavi Ardekani

{"title":"Financial perceptions and AI infringement risks","authors":"Tian Wei , Han Wu , Michael Dowling , Aref Mahdavi Ardekani","doi":"10.1016/j.iref.2025.104204","DOIUrl":"10.1016/j.iref.2025.104204","url":null,"abstract":"<div><div>Artificial intelligence (AI)-related intellectual property (IP) infringement involves the unauthorized use of copyrighted materials during model training and the creation of content that may violate copyright, trademark, or patent laws. This phenomenon presents critical financial risks for businesses, ranging from reputational harm and erosion of brand equity to potential litigation, regulatory scrutiny, and increased investor uncertainty. This study explores how to understand this emergent risk and the associated implications. To do so, we apply social capital theory to an analysis of 10,447 Chinese social media users' reactions to China's first AI-generated voice infringement lawsuit. Our findings suggest that out-tie social capital (exposure to diverse networks) tends to promote neutral or positive views, while in-tie social capital (strong, close-knit communities) initially encourages favorable attitudes but shifts toward ethical and risk concerns when potential financial damages are perceived. Our study, thus, highlights the interplay between social perception and corporate financial considerations in an era where AI increasingly shapes economic opportunities and liabilities.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104204"},"PeriodicalIF":4.8,"publicationDate":"2025-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144168058","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 and corporate innovation Performance: evidence from China 人口老龄化与企业创新绩效：来自中国的证据

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-26 DOI: 10.1016/j.iref.2025.104199

Zhongying Jing , Zheng Li , Ping Zheng

引用次数: 0

Research on the theoretical logic and mechanism of digital inclusive finance in promoting the high-quality development of small and medium-sized enterprises 数字普惠金融促进中小企业高质量发展的理论逻辑和机制研究

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-26 DOI: 10.1016/j.iref.2025.104202

Yingying Zhang , Xiaofeng Dong , Yifei Wang , Hongtao Li

{"title":"Research on the theoretical logic and mechanism of digital inclusive finance in promoting the high-quality development of small and medium-sized enterprises","authors":"Yingying Zhang , Xiaofeng Dong , Yifei Wang , Hongtao Li","doi":"10.1016/j.iref.2025.104202","DOIUrl":"10.1016/j.iref.2025.104202","url":null,"abstract":"<div><div>This paper selects panel data from SMEs listed on the China Shenzhen Small and Medium Enterprise Board from 2011 to 2022, analyzing and testing the theoretical logic and mechanism through which digital inclusive finance promotes the high-quality development of SMEs. The research shows that The empowerment effect of digital inclusive finance on the high-quality development of small and medium-sized enterprises is mainly achieved through the breadth of digital inclusive finance coverage. However, the enabling effects of the depth of use and the degree of digitization of digital inclusive finance on the high-quality development of SMEs have not been fully realized, and there is heterogeneity among different industries and regions. From the perspective of moderating effects, corporate digital transformation and corporate environmental information disclosure play positive moderating roles in the process of digital inclusive finance empowering the high-quality development of SMEs. Therefore, We should strengthen the empowerment of digital inclusive finance. Formulate regionally differentiated policies for the development of digital inclusive finance, and optimize the market environment for digital inclusive finance. At the same time, the digital transformation of SMEs should be promoted, and SMEs should be encouraged to disclose environmental information.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104202"},"PeriodicalIF":4.8,"publicationDate":"2025-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144195095","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 digital industrialization on the level of green development 数字工业化对绿色发展水平的影响

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-05-26 DOI: 10.1016/j.iref.2025.104193

Zirong Li , Linbing Wu , Jingbo Li , Yanxue Zhang

{"title":"The impact of digital industrialization on the level of green development","authors":"Zirong Li , Linbing Wu , Jingbo Li , Yanxue Zhang","doi":"10.1016/j.iref.2025.104193","DOIUrl":"10.1016/j.iref.2025.104193","url":null,"abstract":"<div><div>The construction of digital industrialization serves as a solid foundation for advancing the development of a manufacturing power, a cyber power, and a digital China, and it is also a crucial support for promoting the transformation and upgrading of industries towards digitization, intellectualization, greening, and servitization. Based on provincial panel data from 31 provinces spanning 2008–2022, this paper empirically examines the impact of digital industrialization on the level of green development and its underlying mechanisms. The findings reveal that Digital Industrialization has a significant role in promoting the level of green development, and this conclusion is still true after multiple robustness tests. Mechanism analysis finds that digital industrialization has the dual dimension promotion effect of financial decentralization and advanced industrial structure promotion, that is, digital industrialization promotes the upgrading of industrial structure through technological innovation to enhance enterprise productivity and market competitiveness, and then promote the level of green development; Furthermore, digital industrialization facilitates the improvement of financial decentralization efficiency, enabling technological innovation to enhance green development and achieve energy conservation, emission reduction, and environmental pollution reduction. The heterogeneity analysis finds that digital industrialization can promote green development by enhancing technological and financial development levels, contributing to the achievement of carbon peaking and carbon neutrality goals.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104193"},"PeriodicalIF":4.8,"publicationDate":"2025-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144189838","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