Scientific Journal of Economics and Management Research
Scientific Journal of Economics and Management Research (SJEMR) is a monthly online, international, peer-reviewed journal. All articles published are rigorously and fast reviewed meeting the Journal Quality standards. SJEMR is dedicated to publish empirical, academic, theoretical and review research articles that contribute to the practice in economics, management, and related topics. All articles published are rigorously and fast reviewed meeting the Journal Quality standards.
Research on the Construction Path of Digital-Intelligence Literacy for Science and Technology Talents in the Era of LLMs
When large language models become more and more powerful, the study aims at the gap trouble of science and technology talent education, and proposes a four-dimensional "Digital-Intelligence Literacy" framework. This framework includes four parts: Cognitive & Mindset, Core Skills, Science and Technology Ethics, and Collaborative Innovation. It will help humans make a shift from technology users to human-AI collaborators. We analyzed the gap between the troubles and typical examples, and built a path of a mix of education reform, dynamic evaluation, and institutional protection. The study will be a guide to meet the demand of cultivating new quality productive forces, and provides theoretical insights and practical guidance.
Large Language Models, Science and technology Talents, Digital-Intelligence Literacy, Human-AI Collaboration, Competency Framework.
Copyright (c) 2026 Scientific Journal of Economics and Management Research https://creativecommons.org/licenses/by-nc/4.0
The Impact of Land Property Rights on Rural-to-Urban Migration: Market Mechanisms and Government Mechanisms
This paper aims to examine the relationship between China’s land tenure system and rural-to-urban migration. It distinguishes between two key scenarios: first, where land property rights are well protected (allowing for land leasing); and second, where land property rights are infringed upon (through government land expropriation with compensation). Using data from the China Health and Retirement Longitudinal Study (CHARLS), this study employs regression models for empirical analysis. The results indicate that a higher rate of land leasing is associated with a stronger willingness to migrate, whereas government land expropriation compensation significantly suppresses migration. The findings suggest that strengthening land property rights protection can promote voluntary and stable rural-to-urban migration, while forced land acquisition may weaken migration incentives. The paper concludes with policy implications and directions for future research.
Land Property Rights, Rural Migration, Household Responsibility System, Land Expropriation Compensation, CHARLS.
Research on the Impact Mechanism of Green Public Funds on the Synergistic Effect of Pollution Reduction and Carbon Mitigation in the Manufacturing Industry
China is pushing hard to link green finance with the green transformation of manufacturing. This is a big strategic priority. Green public funds play an important role here. They act as a key market-driven investment force. Still, how exactly they affect pollution reduction and carbon emission mitigation in manufacturing isn’t fully clear. Their impact mechanisms need systematic clarification. Their transmission pathways also call for empirical examination. This study looks at companies listed on China’s A-share market in the manufacturing sector. These firms held shares in green public funds between 2015 and 2022. The research focus on how that fund ownership shaped coordinated pollution control and carbon reduction. It maps out the key influence mechanisms step by step. It also traces the actual transmission pathways - how effects moved from fund holding to real-world outcomes. Initially, it is presumed the link works mainly through capital allocation signals. But subsequent analysis revealed other channels mattered too - like governance spillovers and peer benchmarking. The whole picture came together only after unpacking each piece separately. The findings show that green public fund holdings boost the combined impact of pollution control and carbon reduction in manufacturing firms. The effect isn’t uniform across all firms. It’s especially strong for non-state-owned enterprises. It also stands out among heavily polluting companies. Another thing worth mentioning: firms in eastern and western regions show this boost too. Initially, it is presumed that ownership type, pollution intensity, and regional location might each play a role-but subsequent analysis revealed the pattern holds up clearly for these three groups. Mechanism tests show how green public funds work. They mainly do this in three ways. First, they ease financing constraints. Second, they push companies to develop green technologies. Third, they boost external governance oversight. Initially, it is presumed these funds help firms get money more easily. But subsequent analysis revealed they also motivate green innovation directly. Another thing worth mentioning: the funds make outside monitors-like regulators or investors-more active. With actually practical effects, external checks become tighter and more consistent. This study delivers solid, real-world evidence. It also offers practical policy ideas. These help use green finance to push the manufacturing industry toward sustainability. The shift is low-carbon. It also supports high-quality development.
Green Public Funds, Synergistic Effects of Pollution Reduction and Carbon Emission Reduction, PSM-DID Test.
Study of the Impact of Macroeconomic Factors on the Capital Adequacy Ratio
The main aim is to find the influence of the three macroeconomic factors, including inflation, interest, broad money, and real growth rate, on the capital adequacy of the countries. Firstly, the Hausman test found the best fit analysis. The data was collected from Fred's database. A comparative study was conducted, and it found that the developed nations' capital adequacy level significantly influences macroeconomic factors. The overall data analysis of all the countries found that interest rates, inflation, broad money, and real growth determine the capital adequacy ratio. This study examines the influence of four macroeconomic factors-inflation ,interest rate,broad money, and real growth rate investigates the influence of four macroeconomic factor -inflation, interest rate, broad money, and real growth rate -on the capital adequacy ratio (CAR) of six countries from 1998 to 2019. Using panel data regression with fixed effects selected via the Hausman test, the analysis compares developed nations (United States, United Kingdom, European Union) and emerging nations (China, Malaysia, Indonesia). The findings reveal that macroeconomic factors significantly determine the capital adequacy ratio in the full sample. However, a comparative analysis shows that developed nations’ CAR is significantly influenced by inflation, interest rate, and broad money, while emerging nations’ CAR is only affected by the real growth rate. These results highlight the differeing sensitivity of capital regulation to macroeconomic conditions across development stages
Capital Adequacy Ratio, Macroeconomic Factors, Panel Data, Developed Economies, Emerging Economie.
Research on the Construction of a Top-Level Policy System for Differentiated Green Urban Renewal in Eastern, Central, and Western China under the Dual-Carbon Goals
Under the dual-carbon goals (carbon peaking and carbon neutrality), green urban renewal has become a core strategy for high-quality urban development in China. Significant disparities in economic foundation, industrial structure, resource endowments, and carbon emission characteristics across the eastern, central, and western regions necessitate a differentiated top-level policy system rather than a one-size-fits-all approach. This study constructs a theoretical framework for differentiated green urban renewal, establishes a regional carbon emission and green development evaluation index system, and proposes a multi-dimensional top-level policy framework covering carbon accounting, industrial transformation, spatial optimization, and financial support. Empirical analysis reveals that the eastern region focuses on low-carbon innovation and carbon emission reduction, the central region emphasizes industrial greening and carbon peak acceleration, and the western region prioritizes ecological protection and low-carbon development. Finally, this paper provides targeted policy recommendations for each region to promote coordinated national green urban renewal and the realization of dual-carbon goals.
Dual-Carbon Goals, Green Urban Renewal, Regional Differentiation, Top-Level Policy, Carbon Emission Accounting, Eastern-Central-Western China.
Comprehensive Evaluation of High-Quality Economic Development in Tianjin based on Analytic Hierarchy Process
Against the backdrop of China's economy transitioning from high-speed growth to high-quality development, this paper quantitatively analyzes the influencing factors of high-quality economic development in Tianjin by using the Analytic Hierarchy Process (AHP). The research is conducted from four dimensions: innovative development, economic growth, quality of life, and green development. Through the calculation and ranking of weights for each dimension, the importance of each dimension in the process of high-quality economic development in Tianjin is determined. The research results show that, from the perspective of the four dimensions, innovative development and green development play a more significant role in the high-quality economic development of Tianjin, while economic growth and quality of life have relatively lower impacts. From the overall ranking of the indicator layer to the target layer, it can be seen that factors such as the number of innovation projects in large-scale enterprises, the green coverage rate of built-up areas, and per capita regional GDP also have significant influences on the high-quality economic development of Tianjin. The impact of R&D investment intensity and per capita disposable income of all residents cannot be ignored either. Based on the importance of different indicator dimensions, this paper puts forward corresponding policy suggestions to promote the high-quality economic development of Tianjin.
High-quality Economic Development, Evaluation Index System, Analytic Hierarchy Process (AHP).
Comparative Study on the Capital Adequacy Ratio between Developed Countries and Emerging Countries Analysis based on Panel Data
This study investigates the influence of four macroeconomic factor -inflation, interest rate, broad money, and real growth rate -on the capital adequacy ratio (CAR) of six countries over the period 1998–2019. Using panel data regression with fixed effects selected via the Hausman test, the analysis compares developed nations (United States, United Kingdom, European Union) and emerging nations (China, Malaysia, Indonesia). The results show that for developed economies, inflation, interest rate, and broad money have significant effects on CAR, while for emerging economies, only the real growth rate is statistically significant. These findings suggest that capital regulation in developed countries is more sensitive to macroeconomic conditions, whereas emerging economies’ bank capital adequacy relies more on internal or micor-prudential factors. Policy implications are discussed.
Capital Adequacy Ratio, Macroeconomic Factors, Panel Data, Developed Economies, Emerging Econom.
Research on the Impact of Green Finance Policies on Corporate Financing Efficiency
As the world moves deeper into green development, green finance isn’t just a buzzword anymore-it’s a powerful tool that steers social capital into environmentally friendly industries and pushes companies toward greener practices. In this study, I focus on China’s Green Finance Reform and Innovation Pilot Zones, treating them as a kind of natural experiment. I use panel data from A-share listed companies between 2015 and 2023 and apply a multi-period difference-in-differences model to dig into how green finance policies affect corporate financing efficiency and how they work internally. The data tell a clear story: green finance policies make a real difference for companies inside the pilot zones, boosting their financing efficiency. This effect doesn’t just burst onto the scene and disappear-it grows quickly at first, then settles into a steady state. When I dig into why this happens, I find that green finance policies help companies by easing their financing constraints and helping them strengthen their green governance. But not all companies benefit in the same way. The positive impact stands out especially among non-state-owned enterprises, high-tech firms, and companies in industries with heavy pollution. There’s another twist: the effects don’t stop at the targeted firms. Green finance policies send positive ripples down the supply chain, further boosting financing efficiency for downstream enterprises. Upstream firms, though, don’t see much change. This research adds fresh evidence to the literature on the real-world, micro-level effects of green finance. It also offers practical insights for policymakers who want to refine the green financial system, help companies raise capital more efficiently, and drive high-quality economic growth.
Green Finance Policies, Corporate Financing Efficiency, Difference-in-Differences (DID), Green Governance, Financing Constraints, Supply Chain Spillover, High‑Quality Economic Development.
Exploring New Pathways for Youth Social Work in the Digital-Intelligent Environment
With the rapid development of digital technology, the developmental context of adolescents has changed, and the ecological environment has been fundamentally reshaped. Digital media has become the primary platform for adolescents to interact with the outside world, yet it also has negative impacts, which may induce psychological problems and Internet addiction. Against this backdrop, the traditional model of youth social work fails to adequately meet the needs, which requires social work practice to innovate, to analyze the challenges of the digital economy confronting youth social work, to formulate targeted strategies, to improve the digital literacy of social workers, to build a sound evaluation mechanism, and to provide solid support for the sustainable development of youth social work.
Digital-intelligent Environment, Youth Social Work, Digital Literacy, Service Innovation, Evaluation System.
Research on the Impact of Financial Advisory Services on the Diversification Level of Household Portfolios
With the continuous improvement of household financial asset scale and the increasing complexity of financial markets, household portfolio diversification has become an important means to reduce investment risks and optimize asset allocation. Financial advisory services, as a professional financial intermediary service, play a crucial role in guiding households to make rational investment decisions and improving portfolio diversification. Based on the theory of modern portfolio, behavioral finance and financial intermediation, this paper selects the micro data of household financial survey to empirically test the impact of financial advisory services on the diversification level of household portfolios. The research results show that: financial advisory services can significantly improve the diversification level of household portfolios, and this promotion effect has heterogeneity among households with different financial literacy, asset scale and risk preference; the mechanism test shows that financial advisory services can improve household portfolio diversification by alleviating household behavioral biases and improving household financial literacy. Finally, based on the research conclusions, this paper puts forward policy suggestions to optimize financial advisory services and guide households to achieve scientific portfolio diversification. This study enriches the research on the factors affecting household portfolio diversification and provides theoretical and empirical support for the development of financial advisory industry and the improvement of household financial decision-making ability.
Financial Advisory Services, Household Portfolios, Diversification Level, Behavioral Bias, Financial Literacy.
Strategies for Improving Urban Land Use in the Context of New-type Urbanization
New-type urbanization is a core strategy for China's modernization, bearing the development tasks of expanding domestic demand and promoting growth, while also facing urgent needs for transformation and quality improvement. As of the end of 2025, China's urbanization rate of permanent residents reached 67.89%, which still shows a significant gap compared to developed countries. However, the extensive development model of traditional urbanization has triggered problems such as low land use efficiency, disjointed planning, and prominent supply-demand contradictions, which have become key obstacles to the implementation of new-type urbanization. As the material foundation and spatial carrier of urbanization, the efficiency of land utilization directly relates to the sustainability of urbanization; therefore, targeted optimization and improvement are urgently needed. Taking the current status of urban land use under new-type urbanization as a starting point, this paper conducts a systematic analysis from three aspects-the intensity of land use, the planning system, and technical support-to explore implementation pathways for improving urban land use efficiency. It constructs a "Planning-Intensification-Smart" trinity improvement framework. With intensive land use as the goal, measures are formulated across four dimensions: ideology, institutional design, technology integration, and planning coordination. Based on land use planning, the planning system is optimized by enhancing the scientific nature of compilation and perfecting flexible control mechanisms. With smart cities as technical empowerment, full-process precise management of land use is achieved by relying on remote sensing, GIS, and digital technologies. This study provides practical pathways and relevant theoretical references for the optimization of urban land use in China.
New-type Urbanization, Urban Land Use Improvement, Intensive Use, Smart City, Land Use Planning.
Does Trade Policy Uncertainty Affect Corporate Financialization: From the Perspective of Corporate Uncertainty Perception
In the current period of “growing uncertain and unpredictable factors” in China, corporate financialization is regarded as one of the major challenges to “consolidating and expanding the foundation of the real economy”. Therefore, based on the sample of Chinese A-share listed companies from 2007 to 2024, this study uses the text analysis method to measure the enterprise-level trade policy uncertainty perception index, and identifies its impact on corporate financialization and the underlying mechanism. The empirical results show that corporate perception of trade policy uncertainty significantly inhibits the allocation of financial assets. Mechanism analysis indicates that it exerts its effect by exacerbating managerial short-termism and amplifying cash flow volatility. Extended analysis reveals that the aforementioned inhibitory effect is more prominent in enterprises with a lower degree of market competition or stronger external supervision. The conclusions of this paper have enlightening significance for policymakers to understand the law of how uncertainty affects corporate financialization behavior and to “consolidate and expand the foundation of the real economy”.
Corporate Perception of Trade Policy Uncertainty, Financialization, Portfolio Allocation.
Research on Experience Marketing Strategies for Traditional Chinese Medicine Enterprises from the Perspective of Value Co-creation
With the change in economic model and consumer behaviour at present, the experience economy, a new form of consumption that encourages people to take part in various activities and feel emotions by participating in these experiences, has gradually spread in recent years. The new demands of consumers are to be more personalised, diverse and emotionally satisfying. The Value Creation Models of Traditional Chinese Medicine (TCM) Enterprises are Changing. In light of the above, this paper will integrate value co-creation theory and pharmaceutical marketing strategies to review previous research on pharmaceutical marketing and investigate how the role of consumers in brand interaction, product experience and emotional resonance has evolved. Research has been carried out to explore how traditional Chinese medicine (TCM) enterprises can shift from "one-way marketing" to "two-way value co-creation" by building consumer participation mechanisms, strengthening sensory experiences and reconstructing brand identities; at the same time, it has provided theoretical support and practical guidance for marketing innovation in the TCM industry.
Value Co-creation, Experiential Marketing, Marketing Strategy, Traditional Chinese Medicine Industry.
Research on the Differential Impacts of Selective Industrial Policy and Competitive Industrial Policy on Enterprise Innovation
Industrial policy, as an important means for governments to intervene in the market and promote industrial upgrading, is mainly divided into selective industrial policy and competitive industrial policy. The two types of policies have obvious differences in intervention logic, implementation methods and target orientations, which will inevitably lead to differential impacts on enterprise innovation. This paper uses 2018-2022 panel data of China’s A-share listed manufacturing firms to analyze how selective and competitive industrial policies differently affect corporate innovation, alongside moderating effects of firm scale and ownership. Selective policies boost innovation input insignificantly affecting output quality, while competitive policies improve both notably. The two policies exert disparate influences on state-owned, private, large and small firms. Relevant suggestions are proposed to optimize policy collocation and drive corporate innovation.
Selective Industrial Policy, Competitive Industrial Policy, Enterprise Innovation, Innovation Input, Innovation Output.
Study on the Impact of the Centralized Procurement Policy for Traditional Chinese Patent Medicines on the Innovation Performance of Listed Traditional Chinese Medicine Enterprises in China
Despite continuing reforms in China’s healthcare system, bulk procurement policies for medicines have increasingly been used as a key regulatory tool in recent years. The objective of this kind of policy is to lower the cost of pharmaceuticals and establish operation standards in the domestic pharmaceutical market. With the gradual adoption of bulk procurement policies on traditional Chinese medicine formula products, discussion among academia and the general public has also been focused on the innovation strategies of enterprises affected by the bulk procurement policy. This study takes the A-share listed traditional Chinese medicine enterprises that trade on the Shanghai and Shenzhen stock exchanges during the period 2018 to 2024 into consideration. It builds the panel dataset of firms at an empirical level. Using the multiple difference-in-differences approach, the effects of traditional Chinese medicine formula bulk procurement policy on innovation outcomes of firms are evaluated. Mechanism test is done using three key indicators of enterprise operations. Empirical testing outcomes suggest that the implemented TCM bulk procurement regime may indicate meaningful enhancements in innovative performance for listed traditional Chinese medicine enterprises. Mechanism testing reveals that the policy drives the optimization of corporate resource allocation structure by increasing R&D investment, optimizing R&D personnel allocation, and reducing sales expense ratios, thereby fostering technological innovation. The research conclusions provide empirical evidence for evaluating the implementation effects of the centralized procurement policy for TCM preparations and promoting the innovative development of the TCM industry.
Traditional Chinese Patent Medicine, Procurement Policy, Innovation Performance.
The Impact of Digital Literacy on Entrepreneurial Decision-making among Young Farmers
Under the background of deep integration of digital economy and rural revitalization strategy, young farmers ' entrepreneurship has become a new driving force for county economic development, and digital literacy is a key enabling factor. Based on the data of China Family Panel Survey ( CFPS ) in 2020-2022, this paper takes young rural households aged 18-45 as the research object, constructs a digital literacy index system covering six dimensions such as digital foundation, entertainment and shopping, and uses Probit model and instrumental variable method to empirically test the impact, mechanism and heterogeneity of digital literacy on young farmers ' entrepreneurial decision-making. The purpose of this study is to reveal the internal logic of digital literacy affecting young farmers ' entrepreneurial decision-making, and to provide empirical basis and policy reference for building a support system for young farmers ' digital entrepreneurship and promoting rural revitalization.
Digital Literacy; Young Farmers; Entrepreneurial Decision; Mechanism Analysis; Heterogeneity.
Emotional Governance in Online Public Opinion during Major Public Health Emergencies
The coronavirus disease 2019 pandemic, initially identified as the ‘COVID-19’ in China at the end of 2019 has posed significant global public health challenges, highlighting the need for effective online public opinion during crises. This study investigates the evolution of public sentiments on social media during the pandemic, applying text mining and using data collected from Chinese microblogging platforms related to the outbreak based on Python. Sentiment data were categorised and analysed across five major phases of the outbreak, capturing the frequency and types of emotional expressions to explore public opinion dynamics. Results reveal distinct patterns: negative emotions, such as panic and anxiety, were prevalent during the initial outbreak; positive emotions increased during containment phases; and mixed emotions emerged during policy adjustments and case surges. Positive sentiment peaked as pandemic control efforts succeeded and normalcy resumed. The findings further indicate that uncertainty and heightened negative emotions can drive surges in public opinion, while timely, reasonable, and effective government responses can alleviate public anxiety and reduce the risk of secondary crises. These insights highlight the critical role of sentiment analysis in public health communication and crisis management, offering actionable recommendations for mitigating public sentiment risks during future pandemics.
COVID-19; Online Public Opinion; Sentiment Analysis.
Digital Technology Empowers Agricultural Insurance to Achieve Dual Precision
As an important policy-based financial tool in China, the precise underwriting and precise claims settlement of agricultural insurance are key to its stable and sustainable development. Digital technology is a crucial enabler for achieving "dual precision" in agricultural insurance. This paper reviews the current state of "dual precision" in agricultural insurance and highlights the most widely used technologies in this regard, such as remote sensing, big data, and artificial intelligence. However, the application of these technologies faces challenges including high technical barriers, severe data silos, lack of uniform standards, and talent shortages. Therefore, this paper proposes countermeasures such as developing digital technology-related industries, building a unified agricultural insurance data platform, standardizing practices, and cultivating interdisciplinary talent.
The Impact and Mechanism of Artificial Intelligence Applications on Enterprise Innovation: Evidence from Chinese SRDI Enterprises
Artificial intelligence (AI) has become an important strategic force driving enterprise transformation and innovation. In China, SRDI enterprises, namely, specialized, refinement, differential, and innovation-oriented enterprises, represent a critical group in the transformation toward high-quality development. Compared with ordinary small and medium-sized enterprises, SRDI enterprises possess stronger technological specialization, greater innovation potential, and more distinctive industrial positioning. However, they still face constraints in talent structure, knowledge integration, and innovation resource allocation during the process of intelligent upgrading. Against this background, this paper investigates the impact and underlying mechanisms of AI applications on enterprise innovation among SRDI enterprises. Following a two-way fixed-effects panel regression and mediation analysis framework, this study constructs a panel dataset of 959 SRDI enterprises from 2013 to 2024, covering manufacturing, industrial software, new materials, intelligent equipment, electronic information, and producer services. The empirical results show that AI applications significantly promote enterprise innovation. Mechanism tests indicate that AI improves innovation performance through three channels: knowledge spillover, human capital upgrading, and innovation factor allocation optimization. Heterogeneity analysis further demonstrates that the positive effect of AI is more pronounced among manufacturing-oriented SRDI enterprises, firms with higher R&D intensity, and enterprises located in regions with stronger digital infrastructure. Robustness checks based on lagged explanatory variables, alternative dependent variables, winsorization, and additional controls confirm the stability of the results. This paper extends the literature on AI and innovation by focusing on SRDI enterprises and provides practical implications for the cultivation of innovation ecosystems, intelligent transformation, and high-quality industrial development.
Artificial Intelligence; SRDI Enterprises; Enterprise Innovation.
Analysis of Tiktok Business Operation Model from the Perspective of a Multilateral Platform
With the development of Internet technology, multilateral platforms have become an important part of the modern economy. As a leading global short - video social platform, TikTok's unique business operation model holds significant research value within the framework of multilateral platform theory. This paper conducts an in - depth analysis of TikTok, an emerging social media platform, from the perspective of multilateral market theory. Based on network externalities and platform competition theory, it explores how TikTok utilizes direct and indirect network effects to construct its business model, optimize pricing strategies, and maintain a leading position in the highly competitive digital market. By constructing a theoretical model, this paper discusses TikTok's pricing strategies and value creation mechanisms among content creators, advertisers, and ordinary users, as well as how it promotes user growth and engagement through platform strategies. Through an analysis of TikTok's business model and market performance, this paper proposes sustainable development strategies for TikTok in the future.
Multilateral Platform; Network Effects; Business Operation Model; Pricing Strategy; Value Creation.
Research on the Impact of Digital Economy on the Level of Collaborative Governance of Pollution Reduction and Carbon Abatement
In the coordinated process of advancing the construction of "Digital China, the digital economy is increasingly becoming an important force supporting high-quality development. Simultaneously, it provides an innovative approach to addressing the synergistic issues between traditional pollution control and carbon emission reduction. This study, based on panel data from 266 Chinese cities from 2014 to 2023, examines how the development of the digital economy affects the synergistic governance of pollution control and carbon emission reduction. To explore its potential mechanisms, this study incorporates industrial structure upgrading as a mediating factor in the analysis. This paper employs a two-way fixed effects model combined with a mediating effect framework. The study concludes that the development of the digital economy significantly improves the synergistic governance of pollution control and carbon emission reduction. Mechanism analysis shows that industrial structure upgrading plays a significant mediating role in this relationship. Further heterogeneity analysis reveals that the positive impact of the digital economy is more significant in resource-based cities and cities with relatively low levels of economic development. This study provides empirical evidence at city level, illustrating how the digital economy promotes coordinated pollution and carbon control. Furthermore, this study provides policy implications for promoting the development of the digital economy and optimizing industrial structure.
Digital Economy; Pollution Reduction and Carbon Mitigation; Industrial Structure Upgrading; Mediating Effect.
Textual Defense under Contextual Pressure: R&D Accounting Choices, Regulatory Inquiries, and the Evolution of Footnote Obfuscation
With the increasing stringency of financial statement presentation formats in China's capital market and the normalization of "penetrative" inquiry supervision, corporate earnings management is gradually shifting from numerical to covert textual manipulation. This paper explores how the management of STAR Market semiconductor enterprises, operating under high technical cognitive barriers, utilizes audited financial statement notes to implement text obfuscation strategies. Based on Eisenhardt's multi-case theory construction paradigm, this study selects four chip enterprises with distinctly polarized characteristics and uses NLP technology to conduct longitudinal tracking and cross-case comparisons of their R&D disclosure texts from 2019 to 2025. The findings reveal that deep financial pressure is more likely to trigger "syntactic obfuscation" than aggressive accounting policy choices, as pressured enterprises build implicit defenses by stretching syntactic complexity. Furthermore, rather than deliberately piling up professional terms, management expands text using template-like, redundant descriptions lacking incremental information. This creates a "watering-down effect" that reduces the concentration of core accounting terms under the guise of formal compliance, thereby increasing readers' cognitive load. Additionally, external inquiry supervision exerts a significant "asymmetric impact" on heterogeneous enterprises. While it prompts stable firms to clarify information, it inadvertently intensifies the defensive instincts of problem enterprises, driving them into a strategic loop where more regulation leads to more obfuscation. Ultimately, this study breaks through the limitations of traditional MD&A tone analysis and static word frequency statistics. It enriches management obfuscation theory within specific institutional contexts and provides a forward-looking early warning scale, enabling regulatory authorities to shift from single-content compliance reviews to the "dual monitoring of content and structure.
Textual Obfuscation; Notes to Financial Statements; Regulatory Inquiry Letters; Natural Language Processing (NLP).
Empirical Study on Effectiveness Evaluation of Peacetime-Wartime Conversion for Civil Air Defense Works
To scientifically quantify the effectiveness of peacetime-wartime conversion for civil air defense works and address the problems of vague indicators, strong subjectivity and difficulty in precise grading in traditional evaluations, this study adopts a combined model of the Analytic Hierarchy Process and Fuzzy Comprehensive Evaluation Method for evaluation research. Following the principles of scientificity, systematicity and quantifiability, a three-level evaluation system of target layer-criterion layer-indicator layer is constructed, covering 4 criterion layer indicators (economy, reliability, timeliness and robustness) and 12 indicator layer indicators. The AHP is used to determine indicator weights and complete consistency tests, while the Fuzzy Comprehensive Evaluation Method is employed to quantify fuzzy indicators and determine effectiveness grades. Taking a Grade B combined peacetime-wartime underground garage civil air defense work in the core area of a city as the empirical object, the model calculates a comprehensive score of 84.85 points, with an effectiveness grade of "good", and the evaluation results are highly consistent with the actual working conditions of the project. The research shows that this combined model can effectively solve the fuzziness and subjectivity problems in the evaluation of peacetime-wartime conversion for civil air defense works, providing a scientific basis for engineering effectiveness diagnosis, optimization and upgrading, with strong practicality and promotion value.
Civil Air Defense Works; Peacetime-Wartime Conversion; Effectiveness Evaluation; Analytic Hierarchy Process (AHP); Fuzzy Comprehensive Evaluation Method.
Study on the Impact of Enterprise Export Technological Complexity on Carbon Emissions: Micro-level Evidence from Chinese Listed Companies
Against the backdrop of an accelerating digital economy and with new productive forces emerging as a core driver, the relationship between export technological sophistication and carbon emissions is gaining renewed importance. Research into its underlying synergistic mechanisms holds critical practical relevance for elucidating how technological upgrading drives green transformation and promotes high-quality exports. This study empirically examines the impact of export technological complexity on carbon emissions at the micro-firm level using data from Chinese A-share listed companies from 2013 to 2022, while exploring its underlying mechanisms and heterogeneous characteristics. Findings reveal that increased enterprise export technological complexity significantly curbs carbon emissions, a conclusion that holds after endogeneity treatment and robustness tests. Mechanism analysis shows that increasing R&D investment, alleviating financing constraints, and improving green total factor productivity are three key mediating pathways for enterprises to improve export technological sophistication and achieve carbon emission reduction. Heterogeneity research shows that this emission reduction effect is more significant in state-owned enterprises, manufacturing enterprises, and small and medium-sized enterprises. This study not only fills a gap in micro-level empirical research on the relationship between export technological sophistication and corporate carbon emissions, but also uncovers its underlying transmission mechanisms. It provides theoretical foundations and practical guidance for different types of enterprises to simultaneously enhance technological competitiveness and pursue green development, thereby contributing to the achievement of China’s carbon peaking and carbon neutrality goals.
Export Technological Complexity; Carbon Emissions; Green Total Factor Productivity; Financing Constraints; R&D Investment.
Market Demand Analysis and Marketing Strategies for Zhangzhou Chinese Bayberry: Exploring New Directions for Sales
Zhangzhou Chinese Bayberry, a premium fruit cultivated in the Zhangzhou region of Fujian, is renowned for its exceptional taste and high quality. Despite its strong local reputation, it has faced challenges in expanding its reach beyond local markets, particularly in high-end urban areas. This study explores the market demand for Zhangzhou Chinese Bayberry, identifies the factors influencing consumer purchasing behavior, and proposes marketing strategies to enhance its visibility and appeal, especially in high-income urban markets. Using a survey-based approach, the study examines consumer awareness, preferences, price sensitivity, and packaging considerations. The findings reveal that while taste and quality are the primary drivers of consumer preferences, price sensitivity and limited availability present significant barriers to wider market penetration. The study further identifies branding, packaging, and targeted pricing strategies as key factors for improving market reach. This research offers actionable insights for stakeholders, including farmers, marketers, and policymakers, to develop strategies that position Zhangzhou Chinese Bayberry as a premium product in broader markets.
Zhangzhou Chinese Bayberry; Agricultural Marketing; Consumer Behavior; Market Demand Analysis; Branding; Price Sensitivity; Distribution Strategies.
Research on the Path of Developing Green and Low-Carbon Industries in Baoding under the "Dual Carbon" Goal
Under the background of the deep integration of the “Dual Carbon” goals and the Beijing-Tianjin-Hebei coordinated development strategy, green and low-carbon industries have become the core engine for high-quality regional economic development and a key path for building ecologically livable cities. As a core participant in the functional expansion of the capital and regional coordinated development, and one of the first national climate investment and financing pilot cities, Baoding boasts two national-level advanced manufacturing clusters: intelligent connected new energy vehicles and power and new energy equipment. Its green and low-carbon transformation holds demonstration significance for the ecological and economic synergy of Hebei Province and the Beijing-Tianjin-Hebei region. This paper aims to construct "Landscape Baoding", based on the actual industrial development of Baoding, using field research and empirical analysis methods, combined with SWOT analysis and technology-industry integration innovation analysis, to systematically examine the current status, strengths, weaknesses, and potential threats of Baoding’s green and low-carbon industries. It proposes targeted development strategies from multiple dimensions such as top-level design and industrial collaboration, providing theoretical support and practical paths for building Baoding’s “7+20+N” modern industrial system, while offering a reference for similar cities in their green and low-carbon transformation.
Green and Low-carbon Industries; Landscape Baoding; Beijing-Tianjin-Hebei Coordinated Development; New Quality Productivity; Industrial Clusters; Technology-industry Integration.
Case Study on the Problem of Goodwill Impairment in Listed Companies
In recent years, A-share listed companies have accumulated huge amounts of goodwill due to high-premium mergers and acquisitions (M&A), and the associated impairment risk has become a significant factor affecting the stability of the capital market. This paper takes Liaoning Interactive as a case study to systematically analyze the process, motivations, and economic consequences of the formation of high goodwill due to aggressive M&A and the subsequent large-scale concentration of impairment provisions. The study finds that the root causes of goodwill impairment lie in inflated acquisition valuations, ineffective post-merger integration, and the failure of performance commitments, while intensified industry competition and changes in the macro-environment accelerated the risk exposure. This impairment event led the company into financial and operational difficulties, severely damaging investor interests, and also reflects the deficiencies in the current accounting treatment and regulatory mechanisms for goodwill. This paper proposes suggestions from three dimensions: listed companies, investors, and regulatory bodies, including strengthening the whole-process risk management of M&A, improving information disclosure on goodwill impairment, and exploring paths for optimizing accounting standards, aiming to provide a reference for preventing similar risks.
Goodwill Impairment; Listed Company; Corporate M&A; Risk Management; Liaoning Interactive.
Measurement of the Digital Infrastructure Development Level and Regional Disparities in Guangdong Province
Based on panel data for prefecture-level cities in Guangdong Province from 2015 to 2024, this paper constructs an evaluation index system for digital infrastructure, assesses the level of digital infrastructure development using the entropy method, and analyzes development disparities at both the regional and city levels. Research findings indicate that regional disparities in the development of digital infrastructure in Guangdong Province are quite pronounced. While the overall level of digital infrastructure development across cities is on the rise, there is a marked gradient of differentiation between cities, resulting in a multi-tiered development pattern. Accordingly, this paper propose measures to strengthen regional coordination and policy support, and to promote complementary strengths and coordinated development.
Digital Infrastructure; Entropy Method; Regional Disparities.
A Literature Review on the Influence Mechanism of Involution Perception on Digital Creativity
In the era of the digital economy, employee creativity is rapidly transforming into a digital form, while the spread of the “involution” phenomenon has a profound impact on organizational innovation capability. Focusing on the influence mechanism of involution perception on digital creativity, this paper systematically reviews the conceptual connotations, measurement tools, and research progress of five core variables: involution perception, digital creativity, relative deprivation, constructive deviance, and competitive climate. Through literature integration, it is found that existing studies have preliminarily revealed the basic characteristics of each variable, but the direct path from involution perception to digital creativity remains unclear; the mediating mechanism of psychological factors such as relative deprivation lacks systematic exploration; and the boundary effects of constructive deviance and competitive climate need further verification. Finally, this paper points out the obvious deficiencies in current research and proposes future directions for constructing a theoretical integration framework and conducting empirical tests.
Involution Perception; Digital Creativity; Relative Deprivation; Constructive Deviance; Competitive Climate.
Aligning with High-Standard International Rules: Institutional Openness in Digital Services Trade Agreements
Against the backdrop of the global digital trade rule system restructuring, where Regional Trade Agreements (RTAs) have become the core vehicle for digital rules, this paper focuses on the core issue of institutional opening in digital service trade to align with high-standard international rules. Based on a text quantification methodology, the study selects RTAs containing digital service trade clauses that were signed and entered into force between 2000 and 2024 as samples. It constructs heterogeneity indicators for these clauses and combines data visualization techniques such as box plots and heat maps with empirical analysis to examine the influencing factors of the signing of digital service trade clauses and their quality. The research finds that geographical distance, economic scale, the digital divide, and differences in institutional environments significantly affect the signing of RTAs and the quality of their clauses. This study provides empirical support and policy recommendations for China to precisely align with high-standard international digital service trade rules and advance institutional opening.
Digital Service Trade; Regional Trade Agreements; CPTPP; Institutional Opening.