Selecting the panel data of 30 provinces in China from 2008 to 2019,this paper empirically an-alyzes the impact of energy trading system on carbon emission reduction by using the difference-in-differ-encs model.It is found that the energy trading system can significantly reduce the carbon dioxide emissions of the provinces implementing the policy.The further heterogeneity analysis shows that the carbon emission re-duction effect of energy trading system is more significant in the central and western regions,and the hard con-straints of the government's environmental goals can significantly promote the carbon emission reduction effect of energy trading system.The mechanism analysis shows that the energy trading system can achieve carbon e-mission reduction by stimulating enterprises'green technology innovation,and the governments environmental concern can effectively regulate part of the intermediary effect of green technology innovation.Therefore,it is suggested that the implementation scope of the energy-use rights trading system should be expanded according to local conditions,and the green technology innovation ability of enterprises and the ecology governance ability of the government should be promoted.
Selecting the data of Shanghai and Shenzhen A-share listed companies from 2015 to 2021,this paper uses multiple regression model to study the impact of stock exchange inquiry letters on audit fees.The results show:the enterprises receiving the inquiry letter will face higher audit fees;environmental uncer-tainty will significantly enhance the positive impact of inquiry letters on audit fees;in non-Big Four audit companies,the positive impact of inquiry letters on audit fees is more remarkable.Suggestions are put forward to improve the quality of information disclosure and enhance the independence and professionalism of auditors.
Taking Shanghai-Shenzhen A-share new energy listed companies from 2011 to 2021 as re-search samples,this paper studies the impact of government subsidies and tax incentives on the investment effi-ciency of new energy enterprises,and studies the effects of two policies from the perspective of enterprise life cycle.The results show that government subsidies and tax incentives can both promote the improvement of in-vestment efficiency of new energy enterprises.In different life cycle stages,government subsidies and tax incen-tives have different impacts on investment efficiency.For growth-stage enterprises,government subsidies play a stronger role in promoting investment efficiency,but for mature enterprises,tax incentives play a stronger role than government subsidies.Therefore,it is suggested that government departments should adapt to the situation when implementing policies,avoid the"one-size-fits-all"phenomenon,fully consider the development stage of new energy enterprises,and effectively improve the incentive efficiency of fiscal and tax policies for new energy enterprises.
With A-share non-financial listed enterprises from 2014 to 2021 as research samples,audi-tors'strategies to deal with the shadow banking of non-financial enterprises are explored.The research finds that the higher the degree of shadow banking,the higher the audit risk auditors think,so they will deal with the risk by appointing auditors with more industry expertise,charging high audit fees,and issuing non-standard audit opinions.Further research shows that the degree of marketization has a negative regulating effect on the shadow banking of non-financial enterprises and the risk response of auditors.In the heterogeneity analysis,compared with executives without financial background,auditors have more obvious risk coping behaviors to ex-ecutives with financial background,and there is no significant difference in audit fees,which is mainly reflected in auditor industry expertise and audit opinions.
Taking 495 listed companies in Shanghai and Shenzhen stock markets as samples,this paper u-ses fsQCA method to explore the ways to realize corporate social responsibility of listed companies under differ-ent supply chain situations.It is found that:(1)There are three types of high CSR paths:social responsibility driven under decentralized supply chain relationship,multi-party responsibility driven under decentralized supply chain relationship and multi-party responsibility driven under centralized supply chain relationship;The path of low corporate social responsibility is multi-party responsibility lack driven under centralized cus-tomer relationship and multi-party responsibility lack driven under centralized supplier relationship.(2)Ac-cording to the nature of equity ownership,the paths of high CSR of state-owned enterprises and non-state-owned enterprises are analyzed.The social responsibility of state-owned enterprises is driven by social respon-sibility under decentralized supply chain relationship and multi-party responsibility under centralized supply chain relationship;Non-state-owned enterprises are driven by social and environmental responsibility in de-centralized supply chain relationships.
