China’s extensive growth since reforming and opening its economy has led to increased pollution, and under the United Nations Framework Convention on Climate Change, Chinese companies must initiate green innovation to meet the world trend and enhance their international competitiveness. In addition, with institutional and cultural differences, policy drive is a key focus of China’s development. Therefore, China’s Energy Saving and Emission Reduction policy has its own necessity and characteristics as a mechanism for green innovation in enterprises. This study examines the impact of the 13th Five-Year Plan on green innovation from the perspective of the Energy Saving and Emission Reduction policy. First, the data of 100 listed enterprises in two control zones (TCZ) and non-two-control zones (non-TCZ) from 2014 to 2019 were selected to identify whether the implementation of the policy has an impact on the innovation of heavily polluting enterprises using the double-difference method (DID). The study found that the 13th Five-Year Plan for Energy Saving and Emission Reduction had a negative impact on the innovation of heavily polluting enterprises. Further, the study found that the policy had a negative impact on enterprises’ innovation through the transmission channel of increasing the environmental cost of enterprises, thus reducing investment in research and development (R&D). It is suggested that the state should start with the policy itself, identify its precise target, and formulate flexible environmental regulation policies.
The number of older adults is rising rapidly in China. Various concerns such as chronic diseases, financial inadequacy, and a feeling of loneliness have adversely affected the mental health of older adults, and this has become an important public health and social issue. To realize healthy aging, the Nineteenth National People's Congress of China put forth the Healthy China strategy, speeding up the promotion activities of mental health and pension measures, carrying out public welfare pension insurance for the entire population, and contributing to the mental health of older adults. This study used data from China Family Panel Studies. This study mainly uses the random effect estimation method (random effect, RE) and the feasible generalized least squares estimation method (FGLS) to control for heterogeneity to explore the impact of social and commercial pension insurance on the mental health of older adults, the moderating effect of social capital on pension insurance, and the mental health of older adults. The results showed that social pension insurance is proportional to the mental health of older adults, whereas commercial pension insurance is inversely proportional to mental health. Social capital had a significant moderating effect on pension insurance. When a country develops an aging economy, the emphasis on social capital helps make targeted industrial development suggestions. The government's expansion of insurance coverage is crucial for improving the mental health of older adults.
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