Policymakers and managers have increasingly adopted green bonds as a direct fnancing tool to address environmental degradation and climate change in emerging economies; however, the increasing green washing sentiments in the green bond market raise questions on whether green bonds can nudge...

1. Introduction -- 2. Government Competition, M&A and Corporate Consolidation：A General Analysis -- 3. M&A Waves in China: A Survey from the Government Behavior Perspective -- 4. The Mechanism of M&A under the Impact of Local Government Competition: Models and Empirical Studies -- 5. Corporate...

We analyze the real effects of the environmental regulation on technological innovation using a sample of Chinese firms. We leverage the Air Pollution Prevention Policy as a quasi-natural experiment that is plausibly exogenous to the firms’ innovation policy and use the difference in...

In this paper, we investigate whether and how environmental justice influences climate mitigation and adaptation technologies. We exploit the staggered establishment of environmental courts in China as a quasi-natural experiment that strengthened environmental justice and authoritative...

Purpose This study aims to examine the real effects of financial misconduct on corporate innovation. Design/methodology/approach The authors use a sample of Chinese A-share listed firms from 2006 to 2017. This study uses several empirical strategies to deal with endogeneity concerns, including...