In the current context of the scarcity of fossil energy and the large-scale development and utilization of new energy sources, the power system is developing in the direction of multi-source synergy and interconnection. Demand response technology and energy storage technology have become...

We show that contrary to conventional wisdom, output growth did not always comove across sectors in recessions. After controlling for the size of recessions, sectoral comovement only rose during the Great Recession, which trade credit is key to explaining. In 2008, conditional on input trading,...

The reduced influence of soft budget constrints is often seen as an explanation for the successful growth of China's non-state sector. Views differ, however, as to whether collectively owned rural enterprise are in fact subject to hard financial discipline. This paper reports an inquiry into the...

It is well documented that different manufacturing sectors require different amounts of energy. Primary materials conversion, e.g., iron ore and scrap into steel, limestone and sand into cement and glass, or wood and other fibers into paper, tend to be the most energy-intensive in the production...

Recognizing the potential of energy efficiency to reduce CO2 emissions, the U.S. Environmental Protection Agency launched ENERGY STAR for Industry to educate manufacturers on steps to improve their energy efficiency. Energy management strategy is a key component of the ENERGY STAR approach. This...

This paper studies the high and persistent U.S. cost of financial intermediation (CFI) documented by Philippon (2015) and its inverted U-shape behavior since the mid-1960s. We build a novel model of endogenous growth and bank intermediation and introduce imperfect bank competition, bank IT...

We examine the causal effect of financial deregulation on publicly-listed firms’ ESG performance in a developing economy. Increased foreign ownership of Chinese firms under the Shanghai and Shenzhen Stock Connect programs increases firms’ ESG ratings; and improvements spill over to...

Turning around at the headland is one of the factors that affects the working efficiency of the automatic tractor. In most cases, the tractor turns at the headland following a curved path planned based on the minimum turning radius and drives into the next path between crop rows. However, the...

This study assesses the impact of government shareholding on corporate performance using a sample of 643 non-financial companies listed on the Chinese stock exchanges. In view of the controversial empirical findings in the literature and the limitations of the least squares regressions, we adopt...