Based on a content analysis of 533 Chinese listed companies, this study examines how corporate environmental performance affects not only the level of detail of a company's environmental disclosures, ...but also what information is disclosed. The results show that (1) both poor and good performers have more disclosure than the median (i.e., “mixed”) performers, which provides empirical evidence to support a nonlinear relationship between corporate environmental performance and environmental disclosure; (2) poor performers disclose more soft information on environmental performance than good performers, and good performers disclose more solid information; and (3) although poor performers increase disclosure after being exposed as environmental violators, they avoid disclosing negative environmental information, such as the violation and the associated penalties. This study provides additional evidence for a nonlinear relationship between environmental performance and disclosure in emerging markets, and suggests environmental disclosure may not be a valid signal to differentiate good performers from poor performers in contemporary China.
•Both poor and good performers have more disclosure than the mixed performers.•Good performers disclose more solid information.•Poor performers avoid disclosing negative environmental information.
The debate on the relationship between corporate or industrial environmental performance (EP) and financial performance (FP) has yet to be resolved, and studies need to examine the possible ...moderating effects on the EP-FP link. We argue that industrial EP has a positive effect on FP and that industrial munificence and resource slack can moderate the EP-FP link. Using a dataset from Chinese industrial firms, we examine the direct effect of industrial EP on FP and the indirect effects of industrial munificence and resource slack on the EP-FP link. Our results show that improving corporate or industrial-level EP significantly influences FP and that slack resources play a significant role on the EP-FP link. However, we found no significant moderating effect of industrial munificence on the link.
•Industrial environmental performance has a significant influence on financial performance.•Resource slack plays a moderating role on environmental performance.•Resource slack plays a moderating role on financial performance.
China has implemented a large number of major infrastructure projects (MIPs) over the last three decades. Social responsibility management is crucial for MIPs' sustainable development. What is social ...responsibility of major infrastructure (MIP-SR)? To answer this question, this article proposes the concept and key issues of major infrastructure projects' social responsibility (MIP-SR) and develops a comprehensive conceptual framework for MIP-SR, which covers three dimensions: (i) project life-cycle dynamics; (ii) stakeholder's heterogeneity and (iii) social responsibility interactivity. The three-dimensional framework provides a systematic framework for MIP-SR's academic research and practical implementation, which in turn promotes the sustainable development of MIPs.
•We propose a concept of major infrastructure projects' social responsibility (MIP-SR).•We describe major conflicts in MIP-SR and key issues of MIP-SR.•We develop a three-dimension conceptual framework for MIP-SR.•MIP-SR covers three dimensions: dynamics, heterogeneity, and interactivity.
To explore the value of quantitative image features of gadoxetic acid-enhanced magnetic resonance imaging (MRI) for predicting Gglypican-3 (GPC3) expression of single hepatocellular carcinoma (HCC) ...≤3 cm.
One hundred and forty-nine patients with histopathologically confirmed HCC were included retrospectively. Quantitative image features and clinicopathological parameters were analysed. The significant predictors for GPC3 expression were identified using multivariate logistic regression analyses. Nomograms were constructed from the prediction model and the progression-free survival (PFS) rate was evaluated by the Kaplan–Meier method.
The tumour-to-liver signal intensity (SI) ratio on the hepatobiliary phase (HBP; odds ratio OR = 0.004; p=0.001), serum alpha-fetoprotein (AFP) > 20 ng/ml (OR=6.175; p<0.001), and non-smooth tumour margin (OR=4.866; p=0.002) were independent significant factors for GPC3 expression. When the three factors were combined, the diagnostic specificity was 97.7% (42/43). The nomogram based on the predictive model performed satisfactorily (C-index: 0.852). Kaplan–Meier curves showed that patients with GPC3-positive HCCs have lower PFS rates than patients with GPC3-negative HCCs (Log-rank test, p=0.006).
The tumour-to-liver SI ratio on the HBP combined with serum AFP >20 ng/ml and non-smooth tumour margin are potential predictive factors for GPC3 expression of small HCC ≤3cm. GPC3 expression is correlated with a poor prognosis in HCC patients.
•The combinational model could predict GPC3 expression of small HCC.•GPC3 was associated with recurrence in HCC patients after surgical resection.•This model could help clinicians in the preoperative management of small HCC.
A regulator of the protein phosphatase 2A (PP2A), α4, has been implicated in a variety of functions that regulate many cellular processes. To explore the role of α4 in human cell transformation and ...tumorigenesis, we show that α4 is highly expressed in human cells transformed by chemical carcinogens including benzo(a)pyrene, aflatoxin B(1), N-methyl-N'-nitro-N-nitrosoguanidine, nickel sulfate and in several hepatic and lung cancer cell lines. In addition, overexpression of α4 was detected in 87.5% (74/80) of primary hepatocellular carcinomas, 84.0% (21/25) of primary lung cancers and 81.8% (9/11) of primary breast cancers, indicating that α4 is ubiquitously highly expressed in human cancer. Functional studies revealed that elevated α4 expression results in an increase in cell proliferation, promotion of cell survival and decreased PP2A-attributable activity. Importantly, ectopic expression of α4 permits non-transformed human embryonic kidney cells (HEKTER) and L02R cells to form tumors in immunodeficient mice. Furthermore, we show that the highly expressed α4 in transformed cells or human tumors is not regulated by DNA hypomethylation. A microRNA, miR-34b, that suppresses the expression of α4 through specific binding to the 3'-untranslated region of α4 is downregulated in transformed or human lung tumors. Taken together, these observations identify that α4 possesses an oncogenic function. Reduction of PP2A activity due to an enhanced α4-PP2A interaction contributes directly to chemical carcinogen-induced tumorigenesis.
This article provides empirical evidence on how the pressures of corporate political capital and stakeholders' affect firms' willingness to embrace green innovation. Using a theoretical framework ...combining the stakeholder theory with the resource-based views (RBV), we investigate the effects of firms' political capital and stakeholders' pressures on corporate green innovation using a survey to 791 private manufacturing firms in China. Our results reveal that: (1) political capital plays a significant but negative role in firms' green product and process innovation performance; (2) both regulations and suppliers positively promote green innovation in product and process; (3) consumers are positively related to green product innovation but negatively related to green process innovation; and (4) competitions do not have any significant effects on both green product and green process innovation. Furthermore, political factors and stakeholders' contingent roles in institutional context should synthetically be considered to initiate green innovation.
This article examines whether economic performance could affect EID and how the relationship is determined by the form of ownership from voluntarism to regulation under the current Chinese context. ...In this study, our empirical results show that the relationship between firms' performance and EID is complex and the interactive impact of ownership and economic performance on EID significantly varies from voluntary disclosure to mandatory disclosure. This study provides a more comprehensive understanding of the motivations in corporate EID. The performance-impression theory can be used to explain the disclosure behaviors during the period of voluntary disclosure, while the pressure-legitimacy theory can be used during the period of mandatory disclosure. The finding suggests that when evaluating corporate EID associated with economic performance in emerging economies such as China, it needs to be cautious, as which tends to vary with the form of ownership and whether there is any mandatory regulation in place.
The complexity of innovation processes led to a tremendous growth in the use of external networks by small- and medium-sized enterprises (SMEs). Based on a survey to 137 Chinese manufacturing SMEs, ...this paper empirically explores the relationships between different cooperation networks and innovation performance of SME using the technique of structural equation modeling (SEM). The study finds that there are significant positive relationships between inter-firm cooperation, cooperation with intermediary institutions, cooperation with research organizations and innovation performance of SMEs, of which inter-firm cooperation has the most significant positive impact on the innovation performance of SMEs. Surprisingly, the result reveals that the linkage and cooperation with government agencies do not demonstrate any significant impact on the innovation performance of SMEs. In addition, these findings confirm that the vertical and horizontal cooperation with customers, suppliers and other firms plays a more distinct role in the innovation process of SMEs than horizontal cooperation with research institutions, universities or colleges, and government agencies.
Based on the institutional theory, this article attempts to examine two consecutive questions regarding the impact of various factors on corporate decision in environmental information disclosure ...(EID): (1) whether or not to disclose; and (2) the level of disclosure. The relevance of these factors is empirically tested using data collected from publicly listed manufacturing companies from 2006 to 2008 in China. Some interesting findings appear. We find that firms that are state-owned, those that operate in environmentally sensitive industries, those having more industrial peers engaged in EID, and those with better reputation are more likely to disclose environmental information. When it comes to the content of EID, variables that attempt to capture external institutional pressures exhibit either no or weak explanatory power. Only the variable of organizational image and reputation is demonstrated to have a significant impact on both the act and the content of EID. This study provides a snapshot of the dialogues between constituencies in the organizational field and EID development.
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