Heterogeneous Environmental Regulations And Green Economic Efficiency In China: The Mediating Role of Industrial Structure

2021 ◽  
Author(s):  
Guimei Wang ◽  
Kaiming Cheng ◽  
Yusen Luo ◽  
Muhammad Salman
Keyword(s):  
Economic Efficiency ◽  
Industrial Structure ◽  
Environmental Regulations ◽  
Generalized Method Of Moments ◽  
Policy Implications ◽  
Structure Control ◽  
Voluntary Regulation ◽  
Mediating Role ◽  
Negative Effect ◽  
Stage System

Abstract As the largest emerging economy, China has been experiencing significant environmental problems. To sustain green economic efficiency and modernize industrial structure, China has devised several environmental regulations. While, previous studies have obtained insightful conclusions on this subject, others have presented the reverse arguments, thereby leaving gaps in the literature. This study therefore analyzes the effects of heterogeneous environmental regulations on green economic efficiency in China while taking industrial structure as a mediator over the period 2003-2017. The green economic efficiency was estimated through slacks-based direction distance function (SBM-DDF) model which considers slacks and avoids overestimation. The results of dynamic panel two-stage system generalized method of moments (GMM) show that control-and-command regulation, market-based regulation and voluntary regulation are conducive to China’s green economic efficiency. Regarding spatial heterogeneity, control-and-command and voluntary regulations significantly promote green economic efficiency of inland provinces while the effect is insignificant in coastal provinces. Additionally, market-based regulation promotes green economic efficiency by advanced and rationalized industrial structure. Control-and-command regulation accelerates green economic efficiency only through advanced industrial structure. Voluntary regulation yields positive effect on green economic efficiency through advanced industrial structure and negative effect through rationalized industrial structure. Finally, a number of policy implications are provided.

How does bank liquidity creation affect non-performing loans in the MENA region?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anas Alaoui Mdaghri
Keyword(s):  
Generalized Method Of Moments ◽  
Balance Sheet ◽  
Policy Implications ◽  
Mena Region ◽  
Policy Makers ◽  
Content Type ◽  
Mena Countries ◽  
Negative Effect ◽  
Short And Long Term ◽  
Conventional Banks

PurposeThe study aims to empirically examine the effect of bank liquidity creation on non-performing loans (NPLs) in the Middle East and North Africa (MENA) region.Design/methodology/approachBerger and Bouwman's (2009) three-step methodology was employed to calculate the level of liquidity creation of a selected sample of 111 commercial banks in ten MENA countries from 2010–2017. Next, the two-step system generalized method of moments (GMM) estimator was used to investigate the linkage between bank liquidity creation and NPLs.FindingsThe results demonstrated a significant negative effect of bank liquidity creation on NPLs in the short and long term, implying that liquidity creation through both on- and off-balance sheet activities decreases NPLs. These findings accord with the “economic-enhancing” view. Furthermore, regression analysis investigated whether this relationship remained similar for Islamic and conventional banks. The results showed that liquidity creation diminishes Islamic and conventional bank NPLs.Research limitations/implicationsThe empirical findings raise several significant policy implications. Bank liquidity creation may decrease rather than increase NPLs, although the process of liquidity creation is viewed as risky by rendering banks more illiquid. Therefore, policy-makers should encourage bank liquidity creation to stimulate the economy. In a robust economy, borrowers are more likely to repay their debts, consequently diminishing banks' NPLs.Originality/valueTo the best of the author's knowledge, the current study is the first to provide empirical evidence on the effect of bank liquidity creation on NPLs in MENA countries.

scholarly journals The Impact of Spatial Structure on Economic Efficiency of Beijing-Tianjin-Hebei Megalopolis in China

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-18
Author(s):  
Xingling Huang ◽  
Guoping Li ◽  
Jianguo Liu
Keyword(s):  
Spatial Structure ◽  
Economic Efficiency ◽  
Industrial Structure ◽  
Urban Agglomeration ◽  
Policy Implications ◽  
Scale Efficiency ◽  
Regional Patterns ◽  
Positive Effects ◽  
Development Levels ◽  
The Impact

This study constructs a theoretical model and empirical framework concerning how spatial structure affects economic efficiency using data on the Beijing-Tianjin-Hebei (BTH) megaregion between 2008 and 2017. The study finds the following: ① the development of the internal spatial structure of the BTH urban agglomeration is unequal. The populations of most cities in the urban agglomeration are still in a dispersed state. Although urban populations have tended to agglomerate around multiple subcenter units in the cities, the trend towards population agglomeration around city centers is not found to be significant. ② The total factor productivity (TFP) of the BTH urban agglomeration was not high in most years between 2008 and 2017, showing a fluctuating downward trend overall. The TFP of the urban agglomeration showed differential regional patterns. The decline of TFP growth in the BTH urban agglomeration is mainly due to declining technological progress, technological efficiency, and scale efficiency. Resource input remains the major driving force behind the development of the BTH megaregion. ③ Concerning how the spatial structure of the urban agglomeration affected economic efficiency, the study finds that primacy, urban Gini index, urban population size, human capital, informatization level, industrial structure, and science and technology levels have positive effects on economic efficiency, whereas dispersion, governmental role, economic openness, and land input have negative effects. This study has several policy implications. Achieving coordinated and integrated development of the BTH urban agglomeration will require constructing a scientific and regional spatial system, improving the development levels of regional central cities, divesting Beijing of noncapital functions, and reshaping the industrial layout of the BTH megaregion in an orderly manner, while continuously improving the internal hierarchical structure of urban agglomeration and strengthening intercity economic connections.

CO2 Emissions and Economic Growth in Western China: An Empirical Analysis Based on Panel Data for Western Provinces

2012 ◽  
Vol 573-574 ◽  
pp. 690-695 ◽  
Author(s):  
Jin Rong Jiang ◽  
Shao Wei Chen ◽  
Pei Yu Ren
Keyword(s):  
Panel Data ◽  
Carbon Emissions ◽  
Industrial Structure ◽  
Policy Implications ◽  
Western China ◽  
Factors Affecting ◽  
Consumption Structure ◽  
Empirical Results ◽  
Negative Effect ◽  
Main Factors

This paper examines the factors that affect carbon emissions based on the panel data for 9 western provinces in China over the period 1990–2009. Our empirical results show that the output size, industrial structure and energy consumption structure are the main factors affecting carbon emissions, and the income level has a negative effect to carbon emissions. Some policy implications of the empirical results have finally been proposed

scholarly journals Will Digital Inclusive Finance Make Economic Development Greener? Evidence From China

2021 ◽  
Vol 9 ◽  
Author(s):  
Guangqin Li ◽  
Xubing Fang ◽  
Maotao Liu
Keyword(s):  
Industrial Structure ◽  
Threshold Model ◽  
Generalized Method Of Moments ◽  
Policy Implications ◽  
Green Economy ◽  
Producer Services ◽  
Variable Model ◽  
Green Development ◽  
Internal Mechanism ◽  
The Impact

This paper aimed to accurately assess the driving effect of digital inclusive finance (DIF) on green economic growth, better implement DIF-related policies, and promote the development of green economy. Based on the urban panel data from 2011 to 2018 and the DIF index, this paper investigates the impact of DIF on economic green development and its internal mechanism. The results show that there is a significant positive U-shaped nonlinear relationship between DIF and green development. Through the robustness test of the threshold model, instrumental variable model (IV), and system generalized method of moments (SYS-GMM) model, the results are still valid. The mechanism research shows that the DIF can indirectly promote China’s green development by the coagglomeration degree of producer services and optimize and upgrade industrial structure. This study provides policy implications for developing countries around the world to achieve green development by promoting the DIF level.

The path of support-to-sales: mediating role of seller collaborative information exchange in social commerce

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Li Chen ◽  
Fengxia Zhu ◽  
Murali Mantrala
Keyword(s):  
Information Exchange ◽  
Instrumental Support ◽  
Trade Volume ◽  
Social Commerce ◽  
Content Type ◽  
Mediating Role ◽  
The Social ◽  
Source Data ◽  
Negative Effect

Purpose This paper aims to systematically investigate the direct and indirect effects of four types of support – peer instrumental support, peer emotional support, platform business support and platform communication support – on seller trade volume in social commerce. It also aims to uncover the path of support-to-sales of the seller from a platform perspective and provides a more complete picture of the social commerce phenomenon. Design/methodology/approach This paper uses multi-source data including primary survey data and secondary data on trade volume to test the hypotheses. PROCESS mediation model is used to analyze the multi-source data set. Findings This study finds that the positive effects of peer instrumental support, platform business support and platform communication support on seller trade volume are fully mediated by seller collaborative information exchange. Also, peer emotional support has a significant negative effect on seller trade volume and collaborative information exchange can serve as a buffer to mitigate the negative effect. Research limitations/implications The authors provide new insights into what types of support are or are not conducive to improving transaction volume of individual sellers and highlight the mediating role of seller information exchange in this value generation process in social commerce. These findings advance current knowledge of how seller interactions increase value in social commerce. The chosen research setting may limit the generalizability of the findings of this study. Practical implications This paper offers valuable implications for social commerce platforms on how to better serve their sellers to achieve high growth. Specifically, the findings suggest that platforms should encourage instrumental support and information exchange among peer sellers. In addition, platforms should expand seller support from a single-focus on sellers’ business to a dual-focus on both sellers’ business and socialization in social commerce. Originality/value This paper fulfills an identified need to study how sellers can better derive value from the social interactions and how social commerce platforms can effectively influence transactions, support sales and serve as a selling platform.

scholarly journals An Examination of Green Credit Promoting Carbon Dioxide Emissions Reduction: A Provincial Panel Analysis of China

2021 ◽  
Vol 13 (13) ◽  
pp. 7148
Author(s):  
Wenjie Zhang ◽  
Mingyong Hong ◽  
Juan Li ◽  
Fuhong Li
Keyword(s):  
Carbon Dioxide ◽  
Carbon Emissions ◽  
Carbon Dioxide Emissions ◽  
Industrial Structure ◽  
Emissions Reduction ◽  
Green Finance ◽  
Carbon Emissions Reduction ◽  
Negative Effect ◽  
Emissions Intensity ◽  
The Impact

The implementation of green finance is a powerful measure to promote global carbon emissions reduction that has been highly valued by academic circles in recent years. However, the role of green credit in carbon emissions reduction in China is still lacking testing. Using a set of panel data including 30 provinces and cities, this study focused on the impact of green credit on carbon dioxide emissions in China from 2006 to 2016. The empirical results indicated that green credit has a significantly negative effect on carbon dioxide emissions intensity. Furthermore, after the mechanism examination, we found that the promotion impacts of green credit on industrial structure upgrading and technological innovation are two effective channels to help reduce carbon dioxide emissions. Heterogeneity analysis found that there are regional differences in the effect of green credit. In the western and northeastern regions, the effect of green credit is invalid. Quantile regression results implied that the greater the carbon emissions intensity, the better the effect of green credit. Finally, a further discussion revealed there exists a nonlinear correlation between green credit and carbon dioxide emissions intensity. These findings suggest that the core measures to promote carbon emission reduction in China are to continue to expand the scale of green credit, increase the technology R&D investment of enterprises, and to vigorously develop the tertiary industry.

How does ownership structure affect the financing and dividend decisions of firm?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tahar Tayachi ◽  
Ahmed Imran Hunjra ◽  
Kirsten Jones ◽  
Rashid Mehmood ◽  
Mamdouh Abdulaziz Saleh Al-Faryan
Keyword(s):  
Ownership Structure ◽  
Dividend Policy ◽  
Generalized Method Of Moments ◽  
Institutional Ownership ◽  
Agency Cost ◽  
Debt Financing ◽  
Policy Implications ◽  
Managerial Ownership ◽  
Content Type ◽  
The Impact

Purpose Ownership structure deals with internal corporate governance mechanism, which plays important role in minimizing conflict of interests between shareholders and management Ownership structure is an important mechanism that influences the value of firm, financing and dividend decisions. This paper aims to examine the impact of the ownership structures, i.e. managerial ownership, institutional ownership on financing and dividend policy. Design/methodology/approach The authors use panel data of manufacturing firms from both developed and developing countries, and the generalized method of moments (GMM) is applied to analyze the results. The authors collect the data from DataStream for the period of 2010 to 2019. Findings The authors find that managerial ownership and ownership concentration have significant and positive effects on debt financing, but they have significant and negative effects on dividend policy. Institutional ownership shows a positive impact on financing decisions and dividend policy for sample firms. Originality/value This study fills the gap by proving the policy implications for both firms and investors, as managers prefer debt financing, but at the same time try to ignore dividend payment. Therefore, investors may not invest in firms with a higher proportion of managerial ownership and may choose to invest more in institutional ownership, which lowers the agency cost.

scholarly journals Gubernatorial Rhetoric and the Purpose of Education in the United States

2011 ◽  
Vol 6 (6) ◽  
Author(s):  
Dick M. Carpenter
Keyword(s):  
United States ◽  
Economic Efficiency ◽  
General Public ◽  
The United States ◽  
The State ◽  
Policy Implications ◽  
Education Policies ◽  
Education Experience ◽  
Purpose Of Education

For decades, scholars have debated the purpose of U.S. education, but too often ignored how non-education-related power brokers define education or the requisite consequences.[Qu: Is there a different way of phrasing this? I'm not sure, in reading it, what you intend "the requisite consequences" to mean. Does this mean the results of education, or the consequences of inaccurate definitions of it? Also, may we rephrase "non-education-related power brokers" to something like "power brokers without education experience"?]This study examines how one of the most prominent categories of U.S. leaders, state governors, defines education and discusses the policy implications. We examine gubernatorial rhetoric—that is, public speeches—about education, collected from State of the State speeches from 2001 to 2008. In all, one purpose gains overwhelmingly more attention—economic efficiency. As long as governors and the general public, seen enthymematically through gubernatorial rhetoric, define education in economic terms, other purposes will likely remain marginalized, leading to education policies designed disproportionately to advance economic ends.

Impact of the Content Characteristic of Short Message Service Advertising on Consumer Attitudes

2014 ◽  
Vol 42 (9) ◽  
pp. 1409-1419 ◽  
Author(s):  
Hongyan Lin ◽  
Xing Zhou ◽  
Zhankui Chen
Keyword(s):  
Structural Equation ◽  
Short Message Service ◽  
Consumer Attitudes ◽  
Equation Modeling ◽  
Short Message ◽  
Mediating Role ◽  
Significant Difference ◽  
Message Service ◽  
Attitudes Toward Advertising ◽  
Negative Effect

We examined the influence of the overall content characteristic of short message service (SMS) advertising on consumer attitudes toward advertising on mobile devices. Attitudes of 246 Chinese (145 women, 101 men) toward permission-based SMS advertising received on electronic products were measured using structural equation modeling. Results showed that of the 4 dimensions of the overall content characteristic, entertainment, informativeness, and credibility positively and significantly influenced the attitude of consumers, whereas irritation had a negative effect. In addition, the overall content characteristic significantly impacted on consumer attitudes, with advertising value playing a mediating role. Finally, the influencing path coefficients revealed a significant difference according to gender. The credibility dimension had a greater impact on attitude toward the overall content characteristic for women than for men. Theoretical and practical implications are discussed.

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