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This article provides fresh insights into the link between brand equity and firm-level productivity, including the direct effect and the potential interaction effect with research and development (R&D) and human capital. A panel data model using Chinese listed companies' accounting data from 2012 to 2017 is constructed to test our hypotheses. The main findings are as follows: First, both the direct effects and the potential interaction effects with R&D and human capital are significant. Second, a larger direct effect exists in large enterprises, state-owned enterprises, and manufacturing sector enterprises when considering firm heterogeneity. Third, when it comes to the interaction effect, firms are able to use R&D and human capital to enhance the impact of brand equity on firm productivity, while this effect is insignificant in non-state-owned and service sector enterprises. Overall, our results suggest brand equity will play an important role in future growth in China, and proper attention should be devoted to it in terms of policy and regulation.

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Considering the impact of the number of potential new coronavirus infections in each city, this paper explores the relationship between temperature and cumulative confirmed cases of COVID-19 in mainland China through the non-parametric method. In this paper, the floating population of each city in Wuhan is taken as a proxy variable for the number of potential new coronavirus infections. Firstly, to use the non-parametric method correctly, the symmetric Gauss kernel and asymmetric Gamma kernel are applied to estimate the density of cumulative confirmed cases of COVID-19 in China. The result confirms that the Gamma kernel provides a more reasonable density estimation of bounded data than the Gauss kernel. Then, through the non-parametric method based on the Gamma kernel estimation, this paper finds a positive relationship between Wuhan’s mobile population and cumulative confirmed cases, while the relationship between temperature and cumulative confirmed cases is inconclusive in China when the impact of the number of potential new coronavirus infections in each city is considered. Compared with the weather, the potentially infected population plays a more critical role in spreading the virus. Therefore, the role of prevention and control measures is more important than weather factors. Even in summer, we should also pay attention to the prevention and control of the epidemic.

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