This study explores the externalities caused by managerial myopia from the perspective of carbon emissions in urban areas.Using panel data from 194 Chinese cities and 1286 listed companies from 2012 to 2021,this study...This study explores the externalities caused by managerial myopia from the perspective of carbon emissions in urban areas.Using panel data from 194 Chinese cities and 1286 listed companies from 2012 to 2021,this study empirically examines the effect of managerial myopia on urban carbon emissions.We integrate the“1+N”policy framework under China’s dual-carbon goals of peaking emssions by 2030 and achieving carbon neutrality by 2060,and propose a dual governance framework.The results show that managerial shortsightedness significantly contributes to urban carbon emissions,and this effect is particularly pronounced in cities with higher levels of carbon emissions and in first-and second-tier central cities.The mediating effect analysis indicate that managerial shortsightedness increases urban carbon emissions by inhibiting corporate green technological innovation.The moderating effect analysis shows that public media attention and government environmental regulation effectively mitigate the adverse impact of managerial myopia on urban carbon emissions.Theoretically,this study reveals the mechanism by which managerial shortsightedness increases urban carbon emissions by inhibiting green technology innovation and emphasizes the key roles of public media attention and government environmental regulation in mitigating this negative effect.This study provides important implications for policy rationale,especially for developing countries,for promoting green innovation and strengthening environmental governance to reduce carbon emissions.展开更多
Digital innovation demonstrates signifcant potential in fostering high-quality enterprise development.Using data from listed companies in the Chang-Zhu-Tan urban agglomeration of Hunan Province from 2003 to 2023,this ...Digital innovation demonstrates signifcant potential in fostering high-quality enterprise development.Using data from listed companies in the Chang-Zhu-Tan urban agglomeration of Hunan Province from 2003 to 2023,this study empirically examines the impact of digital innovation on total factor productivity(TFP).A dynamic panel threshold model is further employed to explore the moderating and threshold effects of managerial characteristics.The results indicate that digital innovation signifcantly promotes TFP.Managerial myopia and environmental attention exhibit notable moderating and threshold effects in the relationship between digital innovation and TFP.When managerial myopia exceeds a certain threshold,the effect of digital innovation on TFP shifts from positive to negative.Conversely,when managerial environmental attention surpasses a threshold,the positive effect of digital innovation on TFP becomes evident.Heterogeneity analysis reveals that digital innovation plays a particularly prominent role in enhancing TFP among non-high-tech frms,non-state-owned enterprises,and companies located outside the core Chang-Zhu-Tan region.展开更多
Corporate social responsibility(CSR)plays a vital role in advancing sustainable development.This study used China's 2018 value-added tax(VAT)rate reduction reform as a quasi-natural experiment to examine how indir...Corporate social responsibility(CSR)plays a vital role in advancing sustainable development.This study used China's 2018 value-added tax(VAT)rate reduction reform as a quasi-natural experiment to examine how indirect tax adjustments influence CSR performance.The results indicated that decreased VAT rates enhanced CSR performance by improving corporate cash flow,increasing corporate profits,and alleviating managerial myopia(short-term decision making).The first two channels relaxed internal resource constraints,while the latter enhanced management's willingness to engage in long-term,socially responsible investments.Further analysis showed that these positive effects were mainly evident in enterprises with weaker market power,higher levels of corporate governance,and those subject to stringent environmental regulations.This study enriches the literature on taxation and CSR,demonstrating that fiscal policy tools,such as VAT rate reduction,can act as effective levers to encourage sustainable corporate practices and align business growth with social objectives.展开更多
基金supported by the Project of the Ministry of Education Humanities and Social Sciences Youth Fund[Grant No.24YJC 790245].
文摘This study explores the externalities caused by managerial myopia from the perspective of carbon emissions in urban areas.Using panel data from 194 Chinese cities and 1286 listed companies from 2012 to 2021,this study empirically examines the effect of managerial myopia on urban carbon emissions.We integrate the“1+N”policy framework under China’s dual-carbon goals of peaking emssions by 2030 and achieving carbon neutrality by 2060,and propose a dual governance framework.The results show that managerial shortsightedness significantly contributes to urban carbon emissions,and this effect is particularly pronounced in cities with higher levels of carbon emissions and in first-and second-tier central cities.The mediating effect analysis indicate that managerial shortsightedness increases urban carbon emissions by inhibiting corporate green technological innovation.The moderating effect analysis shows that public media attention and government environmental regulation effectively mitigate the adverse impact of managerial myopia on urban carbon emissions.Theoretically,this study reveals the mechanism by which managerial shortsightedness increases urban carbon emissions by inhibiting green technology innovation and emphasizes the key roles of public media attention and government environmental regulation in mitigating this negative effect.This study provides important implications for policy rationale,especially for developing countries,for promoting green innovation and strengthening environmental governance to reduce carbon emissions.
基金supported by the Natural Science Foundation of Hunan Province(Grant No.2024JJ5454)the Natural Science Foundation of Changsha City(Grant No.kq2402245).
文摘Digital innovation demonstrates signifcant potential in fostering high-quality enterprise development.Using data from listed companies in the Chang-Zhu-Tan urban agglomeration of Hunan Province from 2003 to 2023,this study empirically examines the impact of digital innovation on total factor productivity(TFP).A dynamic panel threshold model is further employed to explore the moderating and threshold effects of managerial characteristics.The results indicate that digital innovation signifcantly promotes TFP.Managerial myopia and environmental attention exhibit notable moderating and threshold effects in the relationship between digital innovation and TFP.When managerial myopia exceeds a certain threshold,the effect of digital innovation on TFP shifts from positive to negative.Conversely,when managerial environmental attention surpasses a threshold,the positive effect of digital innovation on TFP becomes evident.Heterogeneity analysis reveals that digital innovation plays a particularly prominent role in enhancing TFP among non-high-tech frms,non-state-owned enterprises,and companies located outside the core Chang-Zhu-Tan region.
基金supported by Zhejiang Province's Project of Social Science Empowering High-quality Development for Mountainous,Island,and Coastal Counties,the National Social Science Fund Youth Project(No.25CJY179)the Fund of the Center for Research on China Open Economy at Zhejiang University(No.COE2025-001).
文摘Corporate social responsibility(CSR)plays a vital role in advancing sustainable development.This study used China's 2018 value-added tax(VAT)rate reduction reform as a quasi-natural experiment to examine how indirect tax adjustments influence CSR performance.The results indicated that decreased VAT rates enhanced CSR performance by improving corporate cash flow,increasing corporate profits,and alleviating managerial myopia(short-term decision making).The first two channels relaxed internal resource constraints,while the latter enhanced management's willingness to engage in long-term,socially responsible investments.Further analysis showed that these positive effects were mainly evident in enterprises with weaker market power,higher levels of corporate governance,and those subject to stringent environmental regulations.This study enriches the literature on taxation and CSR,demonstrating that fiscal policy tools,such as VAT rate reduction,can act as effective levers to encourage sustainable corporate practices and align business growth with social objectives.
