Capital University of Economics and Business

Information Reliability in Carbon Markets: Point-in-Time News-Augmented Forecasting and Implications for China’s Energy Transition

Reliable carbon price forecasts support compliance planning and transition risk management, but multi-source backtests can appear accurate when observations are aligned by calendar date rather than actual availability. We develop a point-in-time framework for China’s Hubei, Guang...

A Collapse-Resistant Red-Billed Blue Magpie Optimizer for Employment-Policy Design: Programme Targeting and Occupational Retraining Pathways

Improvements to bio-inspired optimisers usually answer generic defects with generic operators. This paper instruments the red-billed blue magpie optimizer (RBMO) and measures what fails. Both operators scale their step by differences between population positions, and the attack p...

Unveiling the Antecedents of Technology‐Organization‐Environment on Low Carbon Performance: A Comparative Analysis of Emission‐Controlled and Non‐Emission‐Controlled Firms

ABSTRACT This study examines firm low‐carbon performance (FLCP) by integrating the Technology–Organization–Environment (TOE) framework with the Natural Resource‐Based View, Dynamic Capabilities Theory, and Institutional Theory. Using survey data from 318 managers in Chinese firms...

Influence of high performers on knowledge hiding and seeking of other employees: evidence from China

Drawing on conservation of resources and social comparison theories, this study examines how high-performing coworkers, who occupy more resources, affect the territoriality and knowledge-management behaviors of other employees. Data were collected from 323 employees at three time...

Centralized Land Supply Policy and Carbon Emissions Reduction of Listed Companies: A Green Back-Pressure Mechanism Under Land Fiscal Constraints

This paper treats the “Two Centralizations” policy for residential land supply in 22 key cities introduced by China’s Ministry of Natural Resources in 2021 as a quasi-natural experiment. Based on data of A-share non-financial listed companies from 2013 to 2023, we adopt the Diffe...

The identification of systemically important financial institutions from the aspect of “Too Connected to Fail”

This paper investigates the identification of Systemically Important Financial Institutions (SIFIs) from a “Too Connected to Fail” perspective by applying the K-shell algorithm to a dynamic tail-risk contagion network. The network is constructed for China’s financial system using...

Narrative Ambiguity Matters

By extracting information from economic news articles, this paper proposes a novel measure of narrative-based ambiguity that captures investors’ attitudes toward narrative uncertainty and exhibits strong in- and out-of-sample predictive power for the stock market returns. It reve...

Co-Opetitive Bridging Structure in Rumor Cascades: A Multilayer Overlapping Community Approach with Information-Theoretic Characterization

Rumor events on social media generate opposing camps whose interaction structure is not captured by spreading models or content detectors. This study describes the camp and bridging structure of three rumor events on Sina Weibo, selected from confirmed cases published by the plat...

Unlocking the ecological dividend of green innovation: the dual moderating effects of institutional constraints and structural enablers

Green technology innovation possesses the dual attributes of environmental protection and economic development, making it an important pathway for achieving the ‘dual carbon’ goals and supporting ecological civilisation construction and sustainable urban development. Using 2006–2...

Fiscal policy, monetary conditions and macroeconomic risks: evidence from China

We employ a novel structural quantile vector autoregression model to examine the effects of fiscal policy on macroeconomic risks in China and to investigate how monetary conditions shape these effects. Our results uncover that fiscal stimulus reduces output downside risk and lead...

Strategic breakthrough under ecological constraints: how biodiversity risk drives corporate mergers and acquisitions in China

Purpose This study examines how exposure to biodiversity risk shapes corporate merger and acquisition activities. Design/methodology/approach Using data on Chinese A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2012 to 2023, this study employs a two-way fi...

Digital Infrastructure and Agricultural Total Factor Productivity: A New Structural Economics Perspective on the “Broadband China” Policy

This study investigates the impact of the “Broadband China” pilot policy on agricultural total factor productivity (TFP) from a new structural economics (NSE) perspective. Using panel data from 297 Chinese cities (2000–2024), we employ a spatial difference-in-differences (SDiD) a...

Are corporate cash holdings sensitive to neighborhood carbon emissions?

Abstract As carbon transition and regulatory risks escalate, understanding the impact of local carbon emissions on corporate financial strategies is essential, particularly in shaping cash holding policies to manage environmental liabilities. This study investigates the impact of...

When play becomes pressure: how gamification and algorithms shape gig workers’ burnout

Purpose Grounded in Affective Events Theory and Self-Determination Theory, this study examines how work gamification shapes gig workers’ emotional labor strategies and burnout under different algorithmic features. Design/methodology/approach Using a three-wave survey of 311 gig w...

How do capital tax incentives affect carbon productivity? Evidence from China’s VAT reform

China launched a pilot value-added tax reform in 2004 that allowed eligible firms to deduct input VAT on purchases of fixed assets, thereby lowering the user cost of capital. Using firm-level panel data from 2001 to 2008 and a difference-in-differences design, we find that the re...

Tax Enforcement and Corporate Green Practices: Government–Firm Reciprocity in China's Low‐carbon City Pilot Program

Despite rising expectations for firms to fulfil environmental responsibilities, there is increasing emphasis on collaborative efforts between firms and governments to tackle sustainability challenges. This study demonstrates that governments can adjust tax enforcement to motivate...