This paper focuses on Chief Executive Officers (CEOs) with green experience, using data from listed companies in China's heavy pollution industry spanning from 2011 to 2021, the study explores the impact of CEO green experience on the Environmental, Social, and Corporate Governance (ESG) performance of companies. The study reveals that CEO green experiences contribute to enhancing firms' ESG performance. The research further unveils that management's green perceptions and corporate green innovations play a partial mediating role in the relationship between CEO green experiences and corporate ESG performance. Heterogeneity analysis indicates that the influence of CEO green experiences on corporate ESG performance is more pronounced in samples characterized by high environmental regulation, capital-intensive operations, and non-state ownership. The findings of this study enrich the theory of corporate ESG performance power mechanisms and provide theoretical references for enhancing the ESG performance of heavily polluting firms.

With the continuous emergence of digital technology, the transformation and upgrading of enterprise digitalization has become the focus of the industry. This paper takes all A-share listed enterprises in China’s capital market from 2010 to 2021 as the sample, to test the impact of digital transformation on risk-taking. The research finds that digital transformation significantly promotes risk-taking level. Further analysis shows that the impact of enterprise digitalization on risk-taking has obvious heterogeneity, the positive impact is more significant in non-heavily polluting enterprises, small-scale enterprises and non-state-owned enterprises; investment efficiency and cost stickiness moderate the above relationship; digital transformation enhances risk-taking by improving managerial ability, strategic deviance and asset utilization. Our study provides enlightenment for enhancing the risk-taking level.

Against the backdrop of growing worldwide attention towards environmental, social, and governance (ESG) considerations, this study investigates how ESG performance affects the probability of stock price crashes. The research explores samples of Chinese A-share listed companies during the period from 2010 to 2019. The outcomes indicate that commendable ESG performance lowers the likelihood of stock price crashes, and these results persist robust even after executing a series of robustness and endogeneity examinations. Moreover, the available evidence indicates that good ESG performance mitigates the risk of stock price crashes by curbing both earnings management and corporate risk. However, the positive influence of good ESG performance on reducing the risk of stock price crashes diminishes when analyst coverage increases. Furthermore, the heterogeneity analysis infers that the effect of good ESG performance in reducing stock price crash risk is more significant for non-state companies. Heightened economic policy uncertainty weakens the effect of good corporate ESG performance in mitigating stock price crash risk. Of the three ESG performance dimensions-environmental, social, and corporate governance-the latter is the most effective in lessening such risks. This research carries notable implications for reinforcing the ESG disclosure arrangement in China and other developing economies. It also guides government institutions and regulators in the creation of policies that foster high-calibre economic progress.

Common Ownership become more and more common today, and scholars have gradually deepened their research on how common institutional investors affect corporate behavior. Under the background that concept of ESG investment has gradually become mainstream, we deeply analyzed the impact of common ownership on ESG performance. We found that common ownership plays a synergy effect and promotes ESG performance. The conclusion is still valid after using two-step estimation,2SLS, PSM and other test methods. The mechanism test found that common ownership reduced information asymmetry and tax avoidance. Not only that, the larger the network of common ownership, the better synergistic effect. We also found that common ownership can achieve synergy effect and improve ESG performance by increasing executive compensation incentives and reducing corporate debt costs.

This paper explores the impact of corporate ESG performance on financing constraints based on the data of Huazheng's ESG ratings with a sample of Chinese A-share listed companies from 2012-2021. It is found that financing constraints are negatively correlated with the increase of corporate ESG ratings. Heterogeneity analysis shows that the mitigating effect of corporate ESG performance on financing constraints is more obvious in enterprises whose property rights are state-owned in nature, non-heavily polluted enterprises, and larger firms. The results of the mechanism test indicate that business risk, management power, shareholding ratio of institutional shareholders and are the main mechanisms through which ESG produces a mitigating effect on financing constraints. Theoretically, this paper enriches the study of the economic consequences of corporate ESG performance from the perspective of financing constraints, and at the same time broadens the path for alleviating corporate financing constraints; practically, it provides empirical evidence and policy references for strengthening the construction of the corporate ESG system and accelerating the construction of a fair and competitive financial market.

Using a sample of China's non-financial listed companies from 2009 to 2020, this paper examines the impact of corporate financialization on operational risk. Our results show that there is a positive relationship between corporate financialization and operational risk, indicating that the risk amplification effect of corporate financialization is dominant, and this effect is more pronounced among companies with higher financing constraints. The analysis of the impact mechanism shows that corporate financialization fails to alleviate underinvestment by means of capital 'reservoir', but will lead to an increase in operational risk by damaging the profitability of the company's main business. In addition, we find that product market competition mitigates the risk amplification effect of corporate financialization. The conclusions of this paper have certain significance for the government and corporations to understand the microeconomic consequences of financialization.

The association between income inequality in a society and the poor health status of its people has attracted the attention of researchers from multiple disciplines. Based on the ISI Web of Science database, bibliometric methods were used to analyze 546 articles related to income inequality research in health field published between 1997 and 2021. We found that the USA contributed most articles, the Harvard Univ was the most influential institution, Social Science & Medicine was the most influential journal, and Kawachi I was the most influential author; the main hotspots included the income inequality, income, health inequality, mortality, socioeconomic factors, concentration index, social capital, self-rated health, income distribution, infant mortality, and population health in 1997–2021; the cardiovascular disease risk factor, social capital income inequality, individual mortality risk, income-related inequalities, understanding income inequalities, income inequality household income, and state income inequality had been the hot research topics in 1997–2003; the self-assessed health, achieving equity, income-related inequalities, oral health, mental health, European panel, occupational class, and cardiovascular diseases had been the hot research topics in 2004–2011; the adolescent emotional problem, South Africa, avoidable mortality, rising inequalities, results from world health survey, working-age adult, spatial aggregation change, prospective study, and mental health-empirical evidence had been the hot research topics in 2012–2021; there were 11 articles with strong transformation potential during 2012–2021. The research results of this paper are helpful to the scientific understanding of the current status of income inequality research in health field.

Taking the non-financial enterprises of A-share listed companies in Shanghai and Shenzhen stock markets from 2009 to 2020 as a sample, this paper studies the impact of entity enterprise financialization on R＆D innovation from the perspective of economic policy uncertainty. The empirical results show that enterprise financialization has a negative impact on R＆D innovation input and innovation output, indicating that financialization has a "substitution" effect on R＆D innovation; The rise of economic policy uncertainty will aggravate the inhibitory effect of enterprise financialization on R＆D innovation, and increase the investment in short-term financial assets, indicating that the behavior of enterprise financialization is mainly motivated by profit seeking; The sub sample test shows that the regulatory effect of economic policy uncertainty is more significant in state-owned enterprises and non-high-tech enterprises. The mechanism test shows that the supply of capital liquidity has a masking effect between enterprise financialization and R＆D innovation, and the level of financial profit has an intermediary effect between enterprise financialization and R＆D innovation.

Health impact assessment (HIA) has been regarded as an important means and tool for urban planning to promote public health and further promote the integration of health concept. This paper aimed to help scientifically to understand the current situation of urban HIA research, analyze its discipline co-occurrence, publication characteristics, partnership, influence, keyword co-occurrence, co-citation, and structural variation. Based on the ISI Web database, this paper used a bibliometric method to analyze 2215 articles related to urban HIA published from 2012 to 2021. We found that the main research directions in the field were Environmental Sciences and Public Environmental Occupational Health; China contributed most articles, the Tehran University of Medical Sciences was the most influential institution, Science of the Total Environment was the most influential journal, Yousefi M was the most influential author. The main hotspots include health risk assessment, source appointment, contamination, exposure, particulate matter, heavy metals and urban soils in 2012–2021; road dust, source apposition, polycyclic aromatic hydrocarbons, air pollution, urban topsoil and the north China plain were always hot research topics in 2012–2021, drinking water and water quality became research topics of great concern in 2017–2021. There were 25 articles with strong transformation potential during 2020–2021, but most papers carried out research on the health risk assessment of toxic elements in soil and dust. Finally, we also discussed the limitations of this paper and the direction of bibliometric analysis of urban HIA in the future.

This study employs scenario analysis to measure the carbon emissions reduction potential of the final demand structure changes in China from 2013 to 2020. The results indicate that under the business as usual (BAU) scenario (i.e. in which China’s final demand structure, energy structure and technical level in 2020 are the same as those in 2012), China’s gross domestic product of 2020 calculated by 2005 constant price is 6,427,658,783×10,000 yuan and China’s total carbon emissions will reach 1,531,692.29×10,000 tons, with its carbon emission intensity standing at 2.3686 t/10,000 yuan (it is only 25.57% lower than in 2005). Furthermore, under the specific final demand product structure (when “government consumption”, “export consumption”, “residents’ consumption + capital formation” accounts for 12%, 18% and 70%of final demand, respectively), China’s total carbon emissions in 2020 will be reduced by between 167,595.33×10,000 and 204,142.45×10,000 tons compared to the BAU scenario, and carbon emission intensity nationwide will be reduced by 33.71-35.49% compared with 2005. Finally, based on the assumptions and conclusions, this study puts forward some suggestions to realize the China’s carbon emission reduction commitments.

Green agriculture can improve biodiversity, increase farmers’ income, reduce agricultural non-point source pollution, solve food safety issues, and will be an important way to promote sustainable development in China. At present, the green transformation of China’s agriculture has encountered a bottleneck in the development of a green agricultural product market. How to develop a green agricultural product market has become an issue worthy of in-depth study in the academia. Previous studies have already given persuasive explanations for the inability to form a green agricultural product market, but few have explored its development path from the angle of cooperation. By employing the method of a Transferable Utilities (TU) cooperative game, and based on theoretical analyses and hypothetical data, this thesis aims to prove the effectiveness of the multilateral coalition to develop the green agricultural product market in China. The results show the effectiveness of the developed model of the green agricultural product market in which producers, consumers, food safety inspection departments, and e-commerce platforms cooperate with each other. This model meets the objective needs of the times and that of the market economy. According to the marginal contribution value of participants in different coalition orders, this thesis finds 6 kinds of coalition orders. When producers and consumers of green agricultural products enter the coalition in the last place, the marginal contribution value is maximized, which reflects the importance of the supply side and demand side of green agricultural products. In other words, the development of the green agricultural product market is a dynamic process—determined by consumers and promoted by producers—in which both sides promote and restrict each other. Finally, this article presents two policy recommendations: at the national level, to clearly proposes a strategy to build a green agricultural product e-commerce platform in China and to launch a pilot application for the specialized e-commerce platform for green agricultural products in the Guizhou province.