This study examines the impact of the 2003 SARS epidemic on the total factor productivity (TFP) of Chinese industrial enterprises using a difference-in-differences (DID) approach. The results exhibit ...that SARS significantly reduces TFP by 3.12–5.81%, lasting for three to five years. Further, this impact is heterogeneous across industries. A significantly negative impact is found in labor intensive industries, while capital and technology intensive industries is less affected. Contrarily, a significantly positive impact is observed in those industries necessary for life and production. Mechanism tests show that the impact on TFP is caused by a reduction in labour productivity and a decrease in innovation investment after SARS outbreak. This study highlights the importance of more targeted policy on Covid-19 and similar epidemics both in industrial, national and international level.
Green innovation is of great significance to promote high-quality growth of the national economy and reduce the load on the ecological environment. This study constructs a two-stage SBM-DEA model ...including energy and undesirable output to measure green innovation efficiency. Tobit model is used to analyze the impact of input variables and influencing factors. The main results are as follows: achievement transformation, technology development and green innovation efficiency in each region all show a trend of fluctuating growth, and green innovation efficiency in the eastern region has always been in a leading position. The total current volumes of R&D personnel and government support strength have a positive relationship and the intensity of R&D funding and environmental protection investment has a negative relationship with the technology development. The number of patent applications and the openness degree to the outside world are positively related to the achievement transformation, and the investment of new products and energy is negatively related to the achievement transformation. Through the comparative analysis of the innovation efficiency differences among different regions, the paper analyzes the main influencing factors, and puts forward countermeasures and suggestions to provide certain theoretical reference for the sustainable and healthy development of China's various regions.
•Constructing a two-stage SBM-DEA model including energy and undesirable output.•Many ample rooms still existed for improving the efficiency in the divided two stages.•A matrix diagram was gotten, and four types were classified based on the differences of regional innovation efficiency.•The overall evolution trends in all regions exhibited the volatile growth tendencies.•Putting forward corresponding policy implications.
Significant transformations in economic relations and increased competition have posed enterprises with extremely complex tasks in the field of corporate governance. Mainly it concerns the systems of ...corporate governance, in which the principles of vertical organization are losing relevance, and the effectiveness of management largely depends on the balance of interests of participants (stakeholders) who can actively influence the production and commercial policy of the enterprise to distribute its resources in their favor.The study aims to develop proposals to ensure the effective interaction of the enterprise with stakeholders, based on establishing an optimal balance of material (value) interests, allowing achieving a reduction of risks that threaten the development of the enterprise.Thus, it was proposed to determine the total value of the commercial results of the enterprise, taking into account the real contribution, which is provided by the relations with one or another stakeholder. A similar approach is implemented to determine the share of the value of the corresponding stakeholder, which is ensured by its relationship with this enterprise. In addition to the value of the enterprise itself, the proposed models explicitly determine the value benefits of stakeholders and disclose a list of the main controlling factors: the volumes of resources supplied and consumed by the parties, their relative values, the structure of resource flows, etc.As an example, using the developed recommendations, the circle of the most influential stakeholders of the Ukrainian enterprise – PJSC KhTP – was studied. This approach allows an industrial enterprise to rank stakeholders by value, to analyze the dynamics of the structure and parameters of material and financial resources flows of the enterprise and its stakeholders.
The purpose of the Chinese Environmental Information Disclosure System is to protect the environment through public participation and public opinion. This paper uses data from listed Chinese ...companies in heavily polluted industries from 2008 to 2013 to examine the influence that corporate political connection has on corporate environmental information disclosure (CEID) level. The results show that firstly, while environmental disclosure level has improved over time, negative information that reflects the real status of environmental management has also been concealed. Secondly, although corporate political connection can influence companies to more actively disclose environmental information, it can also mask political rentseeking in the guise of protecting the environment. This is especially prevalent in state-owned enterprises where political connection has a significant positive impact on in the eastern and western parts of China. If political connections influence it will be difficult to improve the quality of environmental disclosure and provide useful information for decision makers. There is an urgent need to standardize and strictly regulate listed companies' system for environmental information disclosure.
Using the gradual promotion of China's low-carbon city pilot policy (LCCPP) as a quasi-natural experiment, this study investigates the impact of comprehensive environmental regulation on green ...innovation represented by green patents of listed industrial enterprises. Our results revealed that enterprises located in cities with LCCPP produced a high intensity and volume of green patents. LCCPP increased the proportion of green invention, green utility model, and total green patents by 1.26%, 0.72%, and 0.84%, respectively. Moreover, we found that enterprises located in eastern cities and those with high research and development intensity and productivity were likely to benefit most from LCCPP, and LCCPP also triggered green innovation in high-emission and high-energy-consuming industrial sectors. Our results suggest that, for developing economies, a flexible and comprehensive environmental regulation that combines command-and-control and market-based regulations would be preferable for promoting enterprises' green innovation.
This study integrates neoclassical economics and institutional theory to examine the relationship between market factor distortion, technical innovation, and China's electricity consumption, using ...business data from China (2008–2014). First, we provide evidence that factor market distortion promotes electricity consumption of industrial enterprises in China. Secondly, we divide technical innovation into traditional technical innovation and green innovation, finding that the level of technical innovation has an inverted U-shaped effect on the electricity consumption of industrial enterprises. Further, we also provide evidence that factor market distortion amplifies the inverted U-shaped effect of the technical innovation plot. The results show that accelerating the reform of the market, and promoting green innovation, should be regarded as important strategies for national energy saving and emission reduction.
This article offers an overview of research on the ‘value’ that businesses and industrial marketers analyze, create, and deliver. First, value literature (up to and around 2005 and post 2005) is ...discussed. This review highlights the changes in our notions of value and helps to identify seven areas for consideration that should drive future research: value proposition, relationship form, capabilities management, value metrics, temporal horizon, innovation imperative, and tactical focus. Following this depiction of value analysis, value creation, and value delivery, we present a process model for value orchestration in business and industrial marketing. Three activities collectively form the basis of value orchestration, namely structuring activities, bundling activities, and leveraging of resources.
► This study presents a review of literature on value in business and industrial marketing. ► This study highlights changes in notions of value that help to identify areas driving future research. ► This study presents a process model for value orchestration in business and industrial marketing. ► Discusses structuring and bundling activities, and leveraging of resources that form the basis of value orchestration.
Environmental regulation may lead to undesired economic consequences. China has tightened its environmental policies to deal with severe environmental pollution in recent years, but existing studies ...pay little attention to the economic consequences of China's environmental policies. Using the panel data of 211 prefecture‐level and above cities in China from 2003 to 2016, we for the first time estimate the economic impact of the environmental protection admonishing talk (EPAT) policy, a newly implemented environmental regulation policy in China. We use the difference‐in‐differences strategy to identify the economic effects of the EPAT policy combined with the propensity score matching method to control a potential selection problem. The results show that a relative decline occurs in gross domestic product per capita in target cities after the implementation of the EPAT, and the negative impact is exerted on the secondary industry rather than the tertiary industry. Furthermore, we find that target cities respond to the environmental protection requirements of higher authorities through a one‐size‐fits‐all approach of limiting the production activities of industrial enterprises. Meanwhile, the EPAT policy does not improve environmental efficiency. Such findings are instructive for policymakers who need to trade off economic welfare and environmental quality when formulating and implementing new environmental policies.
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