Whether the real performance of corporate social responsibility is related to social progress and development in the critical period of China's economic transformation. It is crucially significant for improving social welfare and promoting high-quality economic development to clarify the...

Value at risk (VaR) and expected shortfall (ES) have emerged as standard measures for detecting the market risk of financial assets and play essential roles in investment decisions, external regulations, and risk capital allocation. However, existing VaR estimation approaches fail to accurately...

Corporate mergers and acquisitions (M&As) are subject to skewed logic due to excessive government regulation. China is progressively adopting the Market Access Negative List (MANL) pilot to transfer the power of resource allocation from the government to the market. Using the DID method, we...

This study aims to identify the systematic factors influencing venture capital performance in emerging technology. Emerging technologies are the driving force of contemporary economic and social development, but their technologies and markets are subject to great uncertainty. As a high-risk,...

In this paper, we assess listed companies in China to empirically examine the relationship between economic cycles and corporate digital transformation. We find that enterprises undergo a higher level of digital transformation during business contraction, and digital transformation exerts a...