This study uses a sample of A-share listed companies to investigate the impact of China's Data Basic Institutional System on capital market reactions and the mechanism by which it exerts influence.The findings rev...This study uses a sample of A-share listed companies to investigate the impact of China's Data Basic Institutional System on capital market reactions and the mechanism by which it exerts influence.The findings reveal that within a 5-day period before and after the policy announcement,listed companies with high data resources experience a significantly higher abnormal return compared to those with low data resources.Moreover,this difference becomes more pronounced as enterprise technology intensity increases.Furthermore,the policy enhances the capital market's perception of the value of data resources and its potential for generating multiplier effects.Additional tests confirm that post-implementation of the policy,the capital market reevaluates the long-term value of enterprises associated with data resources.This comprehensive examination contributes empirical evidence to support academic research,inform policy formulation,and guide strategic planning in relevantindustries.展开更多
Water has become a key restricting factor of the urbanization process in developing arid areas.Based on qualitative and quantitative methods,we constructed an integrated in-dicator system to assess the status of water...Water has become a key restricting factor of the urbanization process in developing arid areas.Based on qualitative and quantitative methods,we constructed an integrated in-dicator system to assess the status of water resources and urbanization system in arid area,and established an AHP model reformed by entropy technology to evaluate the temporal and spatial variations of water resources constraint intensity on urbanization.This model is ap-plied to the Hexi Corridor,a typical arid area in NW China.Results show that,water resources constraint intensity on urbanization in the Hexi Corridor is bigger in the east and smaller in the west.It has changed from the less strong constraint type into the strong constraint type from 1985 to 2005,yet it decreased appreciably in recent years.At present,most areas in the Hexi Corridor belong to the less strong or strong constraint type.Through rational adjustment of water resources and urbanization system,the Hexi Corridor can still promote water resources sustainable utilization and accelerate the urbanization process.This study suggests that the integrated assessment model of water resources constraint intensity on urbanization is an effective method to analyze the conflicts between water resources and urbanization system in arid area.展开更多
The optimization and upgrading of industrial structure is the driving force to build a new development pattern and improve the quality and efficiency of economic development.China's"pressure-type"fiscal ...The optimization and upgrading of industrial structure is the driving force to build a new development pattern and improve the quality and efficiency of economic development.China's"pressure-type"fiscal incentives(PTFIs)are an important perspective from which the law of industrial structure change can be analyzed.Based on the dynamic panel data of 285 cities in China and the behavioral characteristics of local governments,this paper explores the effects of PTFIs on industrial restructuring using the GMM estimation method.It is found that PTFIs are conducive to improving the"quantity"of industrial structure upgrading(ISU),but not conducive to improving the"quality"of ISU or the rationalization of industrial structure(RIS).Mechanism identification reveals that,with PTFIs,local governments influence industrial restructuring mainly by"expanding financial resources with land"(EFRWL)and increasing the intensity of tax collection and management(ITCM).Further discussion reveals that a higher degree of fiscal decentralization and environmental regulation can effectively alleviate the negative impact of PTFIs on industrial restructuring.Accordingly,this paper puts forward some policy recommendations to promote the balanced development of industrial structure,such as improving the institutional conditions and standardizing the behavior of local governments.展开更多
In this study,we analyze new ways of conceptualizing improvements in firms'innovation by implementing the"right-factors configuration,"illustrated through an analog of a recipe and its ingredients.Specif...In this study,we analyze new ways of conceptualizing improvements in firms'innovation by implementing the"right-factors configuration,"illustrated through an analog of a recipe and its ingredients.Specifically,we research the multiple combinations of three ingredients(creativity,innovation networks,and resources)required to accomplish the innovation recipe.Using a sample of firms from a Spanish science and technology park,we apply qualitative comparative analysis(QCA)-specifically,fuzzy-set QCA(fsQCA)-to test the importance of each component in technological and non-technological innovation.First,the results suggest a map of combinations of innovative ingredients with eight possible patterns.Second,they show that the only ingredient needed is the combination of a creative climate and creative intensity.Finally,the methods of obtaining technological and non-technological innovations differ.The implications for management and policymakers are discussed,and directions for future research are highlighted.展开更多
基金the project"Research on the Verification Method and Value Evaluation of Digital Assets in Enterprises"(No.22YJA630047),funded by the Humanities and Social Sciences Fund of the Ministry of Education,China。
文摘This study uses a sample of A-share listed companies to investigate the impact of China's Data Basic Institutional System on capital market reactions and the mechanism by which it exerts influence.The findings reveal that within a 5-day period before and after the policy announcement,listed companies with high data resources experience a significantly higher abnormal return compared to those with low data resources.Moreover,this difference becomes more pronounced as enterprise technology intensity increases.Furthermore,the policy enhances the capital market's perception of the value of data resources and its potential for generating multiplier effects.Additional tests confirm that post-implementation of the policy,the capital market reevaluates the long-term value of enterprises associated with data resources.This comprehensive examination contributes empirical evidence to support academic research,inform policy formulation,and guide strategic planning in relevantindustries.
基金Knowledge Innovation Project of the Chinese Academy of Sciences,No.KZCX2-YW-307-02China Post-doctoral Science FoundationK.C.Wong Education Foundation,Hong Kong
文摘Water has become a key restricting factor of the urbanization process in developing arid areas.Based on qualitative and quantitative methods,we constructed an integrated in-dicator system to assess the status of water resources and urbanization system in arid area,and established an AHP model reformed by entropy technology to evaluate the temporal and spatial variations of water resources constraint intensity on urbanization.This model is ap-plied to the Hexi Corridor,a typical arid area in NW China.Results show that,water resources constraint intensity on urbanization in the Hexi Corridor is bigger in the east and smaller in the west.It has changed from the less strong constraint type into the strong constraint type from 1985 to 2005,yet it decreased appreciably in recent years.At present,most areas in the Hexi Corridor belong to the less strong or strong constraint type.Through rational adjustment of water resources and urbanization system,the Hexi Corridor can still promote water resources sustainable utilization and accelerate the urbanization process.This study suggests that the integrated assessment model of water resources constraint intensity on urbanization is an effective method to analyze the conflicts between water resources and urbanization system in arid area.
文摘The optimization and upgrading of industrial structure is the driving force to build a new development pattern and improve the quality and efficiency of economic development.China's"pressure-type"fiscal incentives(PTFIs)are an important perspective from which the law of industrial structure change can be analyzed.Based on the dynamic panel data of 285 cities in China and the behavioral characteristics of local governments,this paper explores the effects of PTFIs on industrial restructuring using the GMM estimation method.It is found that PTFIs are conducive to improving the"quantity"of industrial structure upgrading(ISU),but not conducive to improving the"quality"of ISU or the rationalization of industrial structure(RIS).Mechanism identification reveals that,with PTFIs,local governments influence industrial restructuring mainly by"expanding financial resources with land"(EFRWL)and increasing the intensity of tax collection and management(ITCM).Further discussion reveals that a higher degree of fiscal decentralization and environmental regulation can effectively alleviate the negative impact of PTFIs on industrial restructuring.Accordingly,this paper puts forward some policy recommendations to promote the balanced development of industrial structure,such as improving the institutional conditions and standardizing the behavior of local governments.
基金support provided by the PID2021-126516NB-I00 project funded by MCIN/AEI/10.13039/501100011033/FEDER,UE.
文摘In this study,we analyze new ways of conceptualizing improvements in firms'innovation by implementing the"right-factors configuration,"illustrated through an analog of a recipe and its ingredients.Specifically,we research the multiple combinations of three ingredients(creativity,innovation networks,and resources)required to accomplish the innovation recipe.Using a sample of firms from a Spanish science and technology park,we apply qualitative comparative analysis(QCA)-specifically,fuzzy-set QCA(fsQCA)-to test the importance of each component in technological and non-technological innovation.First,the results suggest a map of combinations of innovative ingredients with eight possible patterns.Second,they show that the only ingredient needed is the combination of a creative climate and creative intensity.Finally,the methods of obtaining technological and non-technological innovations differ.The implications for management and policymakers are discussed,and directions for future research are highlighted.
