By using the data from Chinese listed companies in the Shanghai and Shenzhen A-share market for the period 2007 to 2019 and the Report on the Work of the Government, this paper investigates the impact of the local government’s economic growth target constraints on enterprise technological innovation and its mechanism. It is found that the local government’s economic growth target constraints significantly inhibit enterprise technological innovation, which is more obvious in the samples of SOEs, regulated industries, and enterprises at low marketization levels. The change of government officials’ performance appraisal indicators from the quantity to quality of economic growth can alleviate the negative effect. The mechanism effect test indicates that the local government’s economic growth target constraints will aggravate enterprise financing constraints and decrease the contribution of R&D investment to enterprise performance, and further inhibit enterprise technological innovation.
Emotion plays an important role in decision making. In an emergency, panic can spread among crowds through person-to-person communications and can cause harmful effects on society. The aim of this paper is to propose a new theoretical model in the context of epidemiology to describe the spread of panic under an emergency. First, according to divisions in personality in the context of psychology, groups are divided into a level-headed group and an impatient group. Second, individuals in the two groups have unique personalities. Thus, the level-headed group only infects within the group, while the impatient group considers emotional infection within the group and cross infection between the groups. Then, a nonlinear infection rate is used to describe the probability of infection after an infected person contacts a susceptible person, which is more in line with the real situation. After that, the level-headed group–impatient group nonlinear SIRS panic spreading model is developed. Stable analysis of the model is obtained using the Lyapunov function method to study the stability of the panic-free equilibrium and panic-permanence equilibrium. Finally, simulations are carried out to dynamically describe the spread process of group emotional contagion.
To further study the issue of false information classification on social platforms after major emergencies, this study regards opinion leaders and Internet users as a false-information classification system and constructs three differential game models of decentralized, centralized, and subsidized decision-making based on optimal control and differential game theory. Comparison analyses and numerical simulations of optimal equilibrium strategies and the optimal benefit between opinion leaders and Internet users, the optimal trajectory and the steady-state value of the total volume of real information, and the optimal benefit of the false information clarification system are carried out. It is found that under centralized decision-making, equilibrium strategy and total benefit of opinion leaders and Internet users, system total benefit, and total volume of real information can achieve Pareto optimality. Although subsidized decision-making fails to achieve Pareto optimality, with opinion leaders providing cost subsidies for Internet users, it is possible to reach relative Pareto improvement compared with decentralized decision-making.
Improving the ecological governance capacity is necessary in order to achieve high-quality economic development. As the main part of the promotion of social and economic development, enterprises’ inefficient investment (overinvestment and underinvestment) has impeded the development of the economy chronically and steadily. Therefore, improving the efficiency of enterprises’ capital allocation has become a problem that needs to be studied and solved urgently. This article mainly studies the influence of ecological governance capability on the enterprise capital configuration efficiency and mechanism of action by using Shanghai and Shenzhen A-share listed companies data from 2011 to 2017. The study found that ecological governance capability can remarkably strengthen the corporate capital allocation efficiency, and it can do so by improving corporate social responsibility (CSR). This conclusion is supported after the replacement of robustness tests, for example, the enterprise capital configuration efficiency and the measurement indicators of CSR. The heterogeneity test indicates that the ecological governance can obviously forward the enterprise capital configuration efficiency in state-owned enterprises and less-polluting enterprises. These findings can provide some theoretical support to the mechanism of ecological governance capacity effect on corporate capital allocation efficiency from the aspect of corporate social responsibility.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.