THE IMPACT OF THE INFODEMIC ON THE STOCK MARKET UNDER THE COVID-19: TAKING THE INVESTORS' INFORMATION INFECTION INDEX AS THE INTERMEDIARY VARIABLE

The outbreak of COVID-19 is synchronized with the outbreak of the infodemic, which directly affected the sentiment and behaviours of investors and thus affected the stock market. At the same time, the outbreak of the infodemic has led to the information infection of the public. With the information infection, panic, anxiety, and other emotions have spread among the public, affecting the behaviours of investors, and thus affecting the stock returns. This paper explores the impact of the infodemic on the stock market by selecting keywords related to the "epidemic situation”, using the Baidu information index as an indicator to measure the infodemic, and the Baidu search index as an indicator to measure the degree of information infection. The empirical findings reveal that: First, the more serious the infodemic, the more severe the information infection;Second, the deeper the infodemic, the lower the stock returns of A-share listed companies;Third, there is a phenomenon that the infodemic affects the stock returns through the intermediary of information infection in the stock market. [ABSTRACT FROM AUTHOR] Copyright of Technological and Economic Development of Economy is the property of Vilnius Gediminas Technical University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Heterogeneous venture capital and technological innovation network evolution: Corporate reputation as mediating variable

Amid the pandemic of COVID-19, the collaborative innovation network of enterprises is conducive to the sharing of innovation resources, knowledge transfer, and technology diffusion, which is closely related to the improvement of corporate technological innovation performance. From the perspective of corporate reputation in the field of venture capital investment, and based on transaction cost theory, basic resource theory and reputation effect theory, this paper discusses the evolution mechanism of corporate technological innovation network, constructs an integrated model for the relationships between heterogeneous venture capital investment, corporate reputation and technological innovation network evolution, and then examines the impact of different types of heterogeneous venture capital investment on the evolution mechanism of technological innovation network, as well as the mediating effects of corporate reputation. Through the empirical analysis of the data obtained from the survey of 500 enterprises, the research shows that that independent venture capital is more conducive to enhancing the internal corporate reputation and promoting the evolution of technological innovation networks towards being self-centered;corporate venture capital is more conducive to consolidating the external reputation of enterprises and promoting the evolution of technological innovation networks towards being holistic. Corporate reputation has some mediating effects on the relationship between heterogeneous venture capital and technological innovation network evolution. © 2022

Heterogeneous Venture Capital and Technological Innovation Network Evolution: Corporate Reputation as Mediating Variable

Amid the pandemic of COVID-19, the collaborative innovation network of enterprises is conducive to the sharing of innovation resources, knowledge transfer, and technology diffusion, which is closely related to the improvement of corporate technological innovation performance. From the perspective of corporate reputation in the field of venture capital investment, and based on transaction cost theory, basic resource theory and reputation effect theory, this paper discusses the evolution mechanism of corporate technological innovation network, constructs an integrated model for the relationships between heterogeneous venture capital investment, corporate reputation and technological innovation network evolution, and then examines the impact of different types of heterogeneous venture capital investment on the evolution mechanism of technological innovation network, as well as the mediating effects of corporate reputation. Through the empirical analysis of the data obtained from the survey of 500 enterprises, the research shows that that independent venture capital is more conducive to enhancing the internal corporate reputation and promoting the evolution of technological innovation networks towards being self-centered;corporate venture capital is more conducive to consolidating the external reputation of enterprises and promoting the evolution of technological innovation networks towards being holistic. Corporate reputation has some mediating effects on the relationship between heterogeneous venture capital and technological innovation network evolution.

Farmers' cognition of the COVID-19 outbreak, risk perception and willingness of green production.

Existing literature reports that COVID-19 outbreak may affect people's risk perceptions, with disturbances ranging from mild negative emotional reactions to overall mental health. At the same time, the pneumonia pandemic reveals all the vulnerabilities and weaknesses of our ecosystem and makes people reflect on traditional ecologically harmful production practices. Therefore, the aim of this paper is to review the existing scientific literature on these variables, through a survey and empirical analysis, in order to present and comment on the effects and mechanisms of influence between them. The results showed that: (1) Increasing farmers'cognition of COVID-19 outbreak could significantly enhance the green production willingness. Specifically, the probability of "Very willing"to participate in green production increased by 29.9% for each unit of increase in cognition. (2) Farmers'cognition of COVID-19 outbreak can significantly enhance the level of risk perception and thus enhance their green production willingness, that is, risk perception is an important transmission medium of this effect. (3)The analysis of inter-generational difference showed that the impact of cognition of COVID-19 outbreak on green production willingness was significant for both the new generation and the old generation. On the basis of this, some policy suggestions are put forward, such as strengthening the propaganda and education of natural ecological environment protection, establishing the propaganda mechanism of green agricultural products market in the later period of epidemic situation, raising farmers'risk perception level through multi-channels and so on.

Nonlinear Impact of Circulation-Industry Intelligentization on the Urban–Rural Income Gap: Evidence from China

Integrating informatization into the circulation industry has led to the concept of circulation-industry intelligence. By reducing transportation costs and increasing total factor productivity, the incomes of rural-area residents can be improved;a new pattern of regional economy can be established;urban, rural, social, and economic development can become more coordinated;and social sustainable development can be promoted. In this study, we used China’s provincial panel data corresponding to the 2007–2019 period to measure the intelligence index of the circulation industry in each region and determine the factors that affect the urban–rural income gap;thereafter, we conducted comparative analyses. Further, a fixed-effects model was established based on the theory of agglomeration and diffusion effects to analyze the relationship between these two variables. Our analysis identified innovation investment as a significant intermediary mechanism. The robustness of this finding was verified by substituting variables and controlling for endogeneity. Thus, the effect was shown to be regionally heterogeneous. This study innovatively integrated informatization into the circulation industry, and the results obtained provide a reference for formulating transportation infrastructure as well as informatization strategies for promoting urban–rural coordination and sustainable development globally.

Fiscal Decentralization, Public Health Expenditure and Public Health-Evidence From China.

Since the beginning of the COVID-19 outbreak and the launch of the "Healthy China 2030" strategy in 2019, public health has become a relevant topic of discussion both within and outside China. The provision of public health services, which is determined by public health expenditure, is critical to the regional public health sector. Fiscal decentralization provides local governments with more financial freedom, which may result in changes to public health spending; thus, fiscal decentralization may influence public health at the regional level. In order to study the effects of fiscal decentralization on local public health expenditure and local public health levels, we applied a two-way fixed effect model as well as threshold regression and intermediate effect models to 2008-2019 panel data from China's 30 mainland provinces as well as from four municipalities and autonomous regions to study the effects of fiscal decentralization on public health. The study found that fiscal decentralization has a positive effect on increasing public health expenditure. Moreover, fiscal decentralization can promote improvements in regional public health by increasing public health expenditure and by improving the availability of regional medical public service resources. In addition, fiscal decentralization has a non-linear effect on public health.