Spatial Effects of Digital Transformation, PM2.5 Exposure, Economic Growth and Technological Innovation Nexus: PM2.5 Concentrations in China during 2010-2020.

Digital transformation can increase lending by commercial banks, which may have an impact on economic development and technological progress, thus affecting air pollution. However, a limited amount of literature has discussed the impact of the digital transformation of commercial banks (DTCB) on air pollution. Based on city-level data from 2010 to 2020, this study used a spatial Durbin model to explore the spatial effects of DTCB on air pollution. This study shows that DTCB significantly increases air pollution in local and surrounding cities. Heterogeneity analysis shows that DTCB increases local and surrounding city air pollution in non-innovative cities and cities with low digital economy development. However, in innovative cities and cities with high digital economy development, DTCB reduces PM2.5 emissions in local and surrounding cities. Mechanism analysis shows that DTCB has no significant impact on technological innovation, but significantly promotes economic development, thus increasing air pollution. From the perspective of DTCB, this paper deepens the research on digital finance and air pollution. Against the background of DTCB, the government should guide commercial banks to apply digital technology to increase lending for technology innovation and promote DTCB to achieve the dual goals of economic development and improvement in air quality.

Quantifying the effect of administrative approval reforms on SO2 emissions: a quasi-experiment in Chinese cities.

The effects of the Administrative Examination and Approval System Reform on economic growth and entry of businesses have drawn much attention. However, few scholars pay attention to the impacts of this policy on SO2 emissions. Keeping in view the existing research gap, a spatial difference-in-difference (SDID) model is employed to assess the effects of the Administrative Examination and Approval System Reform on SO2 emissions in 297 Chinese cities during the period 1995-2020 from the perspective of spatial spillover effects. The results show that the establishment of Administrative Examination and Approval Center (AEAC) has significantly positive effects on the local SO2 emissions. The significant indirect (spatial spillover) effects are confirmed. That is, the establishment of AEAC of a given city has a significant positive impact on the SO2 emissions of neighboring cities. The findings are confirmed by several robustness tests. Our study findings have significant implications for the cross-border coordination of environmental policies that aim to improve the quality of the environment across borders.

Role of Venture Capital in Enterprise Innovation Under Psychological Capital and Heterogeneity of Entrepreneur Capital.

This paper is to explore the impact of entrepreneurial psychological capital and capital heterogeneity on venture capital behavior, and further analyze the effect of venture capital on the innovation activities of enterprises. Based on the existing research results, this paper proposed hypotheses on the relationship between venture capital and technological innovation. According to the data samples of growth enterprises market (GEM) listed companies from 2010 to 2016, the main research variables were defined and a theoretical analysis model was constructed. The theory and empirical research clarify the relationship between venture capital and technological innovation. (1) According to the regression results of venture capital participation as well as innovation input and innovation output, the regression coefficients of venture capital participation are 0.609 and 0.203, which are significant at the levels of 10 and 1%, respectively. It indicates that venture capital participation has a positive impact on the innovation input and output of enterprises. (2) The coefficient of venture capital participation is positive, and the coefficient of HHI × VC ¯ is significantly negative. Therefore, the degree of product market competition has a significant moderating effect on the relationship between venture capital participation and technological innovation. Venture capital provides funding support for technological innovation in startups. At the same time, because it holds a certain percentage of shares, it participates in enterprise innovation activities and provides guidance for companies to maintain profitable growth, thereby improving their innovation awareness and level. This research makes up for the shortcomings of the previous research model that uses a single dimension to measure technological innovation. As a result, this study comprehensively investigates the impact of venture capital on the innovation input and output of enterprises, enhancing the integrity and reliability of previous research conclusions.