In recent years, the health conditions of the elderly (the middle-aged and the old, which for this study means people over 50 years of age) have deteriorated along with the aggravation of air pollution, which led to the change of medical insurance costs. This phenomenon is particularly prominent in developing countries, such as China. A total of 15,892 research subjects from 56 prefecture-level cities in 23 provinces were collected from the database of China Health and Retirement Longitudinal Survey (CHARLS). We investigated the effects of air pollution, physical health, and medical insurance costs among three mechanisms using logistics and Ordinary Least Squares (OLS) hybrid cross-sectional regression, and we conducted a robust test. Overall, two pollutants, namely, PM10 and NO2, respectively showed an “inverted U-shaped” and “positive U-shaped” influencing path to health. In addition, when we studied the mechanism of air pollution affecting medical insurance costs, we found that air pollution can affect medical insurance costs through affecting self-rated health, and that the impact path is related to different diseases to some extent. At the same time, there was a certain negative correlation between air pollution and medical insurance: The higher the degree of air pollution, the worse the self-rated health, and the fewer opportunities there are to purchase medical insurance. It can be seen that air pollution affects the physical health of middle-aged and elderly people, thus indirectly and negatively affecting the medical insurance cost. Further research also found that the types of air pollutants in southern and northern China showed some differences. Specifically, NO2 and SO2 were the pollutants that harm the health of the elderly in the south and north, respectively.
Fintech has not changed the nature and risk attributes of financial business. Its openness, interoperability, and other characteristics trigger the concealment, infectivity, universality and sudden characteristics of financial risk more obviously, and the potential systemic risk more complexly. This paper adopts fuzzy set analysis to conduct a comprehensive review of Fintech risk. It is found that the technology risk, moral hazard and legal risk, with a weight of up to 80%, are the dominant factors affecting the Fintech risk, while other prominent credit risk, market risk and operational risk in the traditional financial field account for a small proportion, but they still cannot be ignored. The research of this paper enriches the relevant research on the quantification of Fintech risk, and helps to strengthen risk prevention from the aspect of enhancing the safety of Fintech infrastructure, improving the legal system, sound the regulatory framework and strengthening industry self-discipline.
Whether the company’s R&D expenditure has the green attribute is the focus of current environmental economics research. This paper empirically tests the relationship between R&D expenditure and CO2 emission intensity by taking Chinese A-share listed companies, from 2016 to 2020, as samples. The research found that the R&D expenditure of the company has a significant green effect of reducing its carbon dioxide emission intensity. Further research shows that the institutional investors play a mediating role in the relationship between R&D expenditure and CO2 emission intensity. And the “governance effect” of institutional investors is affected by “short-termism”, which leads to the “myopic” of enterprises’ management and urges them to invest in the short term, thus being detrimental to the company’s environmental performance. In addition, the green attribute of R&D expenditure only exists in the company which has a high concentration of institutional investors, indicating that the institutional investors possess the ability to identify the green value of R&D investment. Extended discussion shows that the investment of R&D personnel plays a moderating role in the first half path of the above mediating mechanism, which weakens the negative relationship between institutional investors and R&D investment. This paper provides empirical evidence for the government to improve environmental performance at the enterprise level. The results of this study show that, in order to reduce the CO2 emission intensity of enterprises, the government should improve incentives for enterprise R&D, make rational use of the information identification ability of institutional investors, advocate long-term investment philosophy, and strengthen the training of R&D team leaders and technicians.
Background: Online lending has developed rapidly in China in recent years, into a typical Internet financial model. China’s online lending related issues have received widespread attention from scholars. Methods: This study used 396,634 order data-points (935,037 original order data-points) from the Renren Loan website since its inception in January 2017. We used ordinary least squares (OLS) regression to study the problem of geographical discrimination in online lending in China, and we conducted two robust tests. Results: Studies have shown that significant geographical discrimination exists in China’s online lending market. From the perspective of the lender, different investment intentions exist for borrowers from various regions, thereby leading to variations in the success rates of loans. From the perspective of the borrower, the belief exists that borrowers from different regions will have varying interest rates because of the effect of geographical discrimination. Conclusion: We believe that geographical discrimination is due to the effects of the economic, financial, educational, and ethnic conditions of the borrower’s location on willingness to invest and the success rate of borrowing. However, borrowers’ self-discrimination is primarily related to economic and ethnic differences among provinces.
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