As the world grapples with increasing environmental challenges,innovative technologies are essential for promoting sustainability and accountability.This study examined the impact of environmental performance indices(...As the world grapples with increasing environmental challenges,innovative technologies are essential for promoting sustainability and accountability.This study examined the impact of environmental performance indices(EPIs)on the growth and investment trends of blockchain-based sustainability-focused companies in 15 countries(Belgium,Czechia,Denmark,Estonia,Finland,France,Germany,Italy,Norway,Poland,Sweden,Spain,Switzerland,the United Kingdom,and the United States)from Europe and America during 2010-2022.This study used the negative binomial regression model to assess the relationship between EPIs and blockchain-based sustainability-focused companies based on the data from the CrunchBase and EarthData.Results indicated that in ecosystem vitality,national terrestrial biome protection efforts were negatively correlated the formation of blockchain-based sustainability-focused companies,while global terrestrial biome protection efforts and marine protected areas had a positive impact on the formation of these companies and the number of funding rounds.In environmental health,PM2.5 exposure had a positive impact on the number of funding rounds.Conversely,pollutants such as sulfur dioxide(SO_(2))and ocean plastics deterred the formation of blockchain-based sustainability-focused companies and reduced the number of funding rounds.In climate change performance,adjusted emission growth rate for carbon dioxide(CO_(2)),adjusted emission growth rate for F-gases,and adjusted emission growth rate for black carbon had a significantly positive impact on the formation of blockchain-based sustainability-focused companies.Conversely,adjusted emission growth rate for Nitrous Oxide(N_(2)O)and projected greenhouse gas emissions in 2050 negatively affected the formation of these companies.These findings highlight the dual role of EPIs as driving factors and barriers in the development and investment of blockchain-based sustainability-focused companies in countries from Europe and America.展开更多
In July 2025,Claudio Descalzi,CEO of Italian oil company Eni,stated in an interview with the Financial Times that Eni’s low-carbon business operating profits would equal those of its oil and gas business by 2035 and ...In July 2025,Claudio Descalzi,CEO of Italian oil company Eni,stated in an interview with the Financial Times that Eni’s low-carbon business operating profits would equal those of its oil and gas business by 2035 and exceed oil and gas business profits by 2040.Meanwhile,British oil company bp is scaling back its low-carbon business under shareholder pressure,returning to traditional oil and gas operations,and plans to gradually dispose of USD 20 billion worth of low-carbon business assets such as onshore wind farms,aiming to increase oil and gas production to 2.3−2.5 million boe per day by 2030.Two European oil companies are heading in completely different strategic directions.In the future,whether Eni can achieve its expected goals of making renewable energy business a key core business,as well as what development strategies oil and gas companies should implement and adhere to,are questions worthy of deep consideration.展开更多
As decarbonization pressure on traditional fossil fuel-related industries gradually intensifies,CCUS has been increasingly incorporated into energy transition strategies by various oil companies.From a development opp...As decarbonization pressure on traditional fossil fuel-related industries gradually intensifies,CCUS has been increasingly incorporated into energy transition strategies by various oil companies.From a development opportunity perspective,oil companies possess four key advantages in developing the CCUS industry:exploration and development technology advantages;geological resource advantages;capital advantages;source-sink matching advantages.In terms of challenges,oil companies face numerous issues in developing the CCUS industry,including technological development,economic viability,and policy and legal aspects.At the national level,China’s oil companies should advocate for improving and optimizing relevant laws and regulations,enhancing the policy support system,incorporating CCUS into the carbon trading market,and strengthening top-level design and medium-to long-term planning;at the enterprise level,they should continuously advance full industrial chain technologies and reduce CCUS project operating costs,selectively participate in industrial segments that suit their capabilities,strengthen CCUS full industrial chain operational capabilities,and enhance talent development and strengthen international exchange and cooperation.展开更多
This research addresses a vital aspect of corporate sustainability by exploring the impact of ESG disclosures on the performance of petrochemical companies listed on the Saudi Stock Exchange.Focusing on the period fro...This research addresses a vital aspect of corporate sustainability by exploring the impact of ESG disclosures on the performance of petrochemical companies listed on the Saudi Stock Exchange.Focusing on the period from 2020 to 2022,it provides critical insights into how ESG practices contribute to achieving organizational sustainability goals while enhancing financial performance.The study evaluates the relationship between ESG disclosures and key financial efficiency measures,including ROA,ROE,ROS,and ROI.A quantitative analysis was conducted on 153 observations using panel regression and descriptive statistics,incorporating control variables such as firm size,financial leverage,and audit quality to isolate the specific impact of ESG disclosure.The findings reveal a positive relationship between ESG reporting and financial performance,emphasizing the dual role of ESG practices in driving financial success and fostering sustainable development.The study highlights the importance of unified,standardized ESG reporting guidelines to enhance the validity and usability of ESG practices.It also underscores the need to educate investors about the financial implications of ESG,as informed investors are more likely to champion sustainable business strategies.Additionally,the research advocates for targeted workshops aimed at financial report developers to improve the quality and effectiveness of ESG reporting.It provides a valuable contribution to the evolving discourse on sustainable finance.It offers practical recommendations for policymakers,organizations,and investors,thereby fostering the integration of ESG principles into corporate strategies.展开更多
Rare earths,as a strategic mineral resource,play a vital role in high-tech industries such as aerospace,national defense and military,electronic information,and new energy.With the accelerated evolution of the new rou...Rare earths,as a strategic mineral resource,play a vital role in high-tech industries such as aerospace,national defense and military,electronic information,and new energy.With the accelerated evolution of the new round of technological revolution and industrial transformation,global supply chain security risks have become more prominent.The focus of major countries'resource security assurance has also shifted from bulk minerals to critical minerals.展开更多
Chinese consumers browsing e-commerce platforms or walking in supermarket aisles have noticed a new feature:dedicated sections for high-quality export products.Far from being a mere marketing gimmick,this trend emerge...Chinese consumers browsing e-commerce platforms or walking in supermarket aisles have noticed a new feature:dedicated sections for high-quality export products.Far from being a mere marketing gimmick,this trend emerged due to intense pressure from a slide in global demand.展开更多
The implementation of the new revenue standard has a far-reaching impact on the accounting treatment of insurance enterprises,and the application of contract settlement accounts,as the key to connect business and fina...The implementation of the new revenue standard has a far-reaching impact on the accounting treatment of insurance enterprises,and the application of contract settlement accounts,as the key to connect business and financial accounting,needs to be standardized.This paper analyzes the core requirements of the new revenue standard,combines the special characteristics of insurance contracts with both service and financial attributes,and explains the logic of setting up and accounting methods of secondary accounts,such as insurance service income and investment component apportionment.In view of the practical pain points such as variable consideration apportionment and reclassification of inter-period contracts,the paper proposes strategies for system upgrading and internal control strengthening.The study shows that standardizing the application of accounts can help enterprises implement the requirements of the standard and improve the quality of financial information.展开更多
Since 2011,America has maintained its position as the world’s largest natural gas producer.Since 2017,America has consistently experienced a surplus in natural gas supply,becoming a net exporter of natural gas.Americ...Since 2011,America has maintained its position as the world’s largest natural gas producer.Since 2017,America has consistently experienced a surplus in natural gas supply,becoming a net exporter of natural gas.America’s“natural gas independence”has reshaped the global natural gas market,creating a new pattern of“supply shifting westward and consumption shifting eastward”.展开更多
The boom of innovative and new technology-oriented companies that provide products and services to customers in recent years has given rise to a new class of firms called New Economy Companies,or NECs.Accurate valuati...The boom of innovative and new technology-oriented companies that provide products and services to customers in recent years has given rise to a new class of firms called New Economy Companies,or NECs.Accurate valuation of these companies throughout their life cycles can be challenging because most of them have massive amount of debt and have a long history of losses since inception,and their principal assets are mostly intangible with no clear values.Inadvertently,the COVID-19 pandemic has added even more obstacles for valuation providers to determine the value of this new type of companies.This paper examines the characteristics of NECs,valuation methods,and the impact of COVID-19 on the valuation of these companies.展开更多
Objective To explore the impact of mergers and acquisitions(M&A)on the innovation performance of the companies from both a patent perspective and a financial perspective by taking the case of M&A Company J as ...Objective To explore the impact of mergers and acquisitions(M&A)on the innovation performance of the companies from both a patent perspective and a financial perspective by taking the case of M&A Company J as an example.Methods The literature research method,patent data analysis method,and financial data analysis method were used.Results:The M&A has a positive impact on the innovation performance of Company J,and the results from the patent perspective and the financial perspective are consistent.Results and Conclusion The literature research method,patent data analysis method,and financial data analysis method were used.The M&A has a positive impact on the innovation performance of Company J,and the results from the patent perspective and the financial perspective are consistent.展开更多
This study investigates volatility spillovers and network connectedness among four cryptocurrencies(Bitcoin,Ethereum,Tether,and BNB coin),four energy companies(Exxon Mobil,Chevron,ConocoPhillips,and Nextera Energy),an...This study investigates volatility spillovers and network connectedness among four cryptocurrencies(Bitcoin,Ethereum,Tether,and BNB coin),four energy companies(Exxon Mobil,Chevron,ConocoPhillips,and Nextera Energy),and four mega-technology companies(Apple,Microsoft,Alphabet,and Amazon)in the US.We analyze data for the period November 15,2017-October 28,2022 using methodologies in Diebold and Yilmaz(Int J Forecast 28(1):57-66,2012)and Baruník and Krehlík(J Financ Economet 16(2):271-2962018).Our analysis shows the COVID-19 pandemic amplified volatility spillovers,thereby intensifying the impact of financial contagion between markets.This finding indicates the impact of the pandemic on the US economy heightened risk transmission across markets.Moreover,we show that Bitcoin,Ethereum,Chevron,ConocoPhilips,Apple,and Microsoft are net volatility transmitters,while Tether,BNB,Exxon Mobil,Nextera Energy,Alphabet,and Amazon are net receivers Our results suggest that short-term volatility spillovers outweigh medium-and long-term spillovers,and that investors should be more concerned about short-term repercussions because they do not have enough time to act quickly to protect themselves from market risks when the US market is affected.Furthermore,in contrast to short-term dynamics,longer term patterns display superior hedging efficiency.The net-pairwise directional spillovers show that Alphabet and Amazon are the highest shock transmitters to other companies.The findings in this study have implications for both investors and policymakers.展开更多
The choice of the environmental risk management instrument to be used within the scope of corporate governance in companies is of paramount importance to avoid or mitigate the triple environmental responsibility to wh...The choice of the environmental risk management instrument to be used within the scope of corporate governance in companies is of paramount importance to avoid or mitigate the triple environmental responsibility to which they are exposed.In this sense,the following research problem arises:The Environmental Impact Assessment(EIA),an instrument of the National Environment Policy and a model of environmental risk management adopted by some companies,proves to be efficient,effective and effective for the fulfillment of the duty to protect the environmental balance and,therefore,for sustainable development?The present study aims to elucidate this research problem.To this end,analyzes were carried out on risk and environmental damage,from a perspective of the socio-environmental function of companies today;the need for a new posture by companies in view of the reflexes of environmental risks in business activity;and the question of the adequacy or inadequacy of the EIA as an instrument of the National Environment Policy and as a model for managing environmental risks and damages,in the pursuit of sustainable development.The method of approach used was the deductive one,and the research was carried out using the method of bibliographic procedure,through which research was carried out on books,scientific articles and legislation.The result points out the inefficiency and ineffectiveness of the EIA for the management of environmental risks and,thus,for the fulfillment of the duty to protect the environmental balance by companies.展开更多
Oil and gas exploration and production is the most important and key segment in the whole business chain of the petroleum industry.Therefore,oil companies always put much emphasis on making scientific and reasonable d...Oil and gas exploration and production is the most important and key segment in the whole business chain of the petroleum industry.Therefore,oil companies always put much emphasis on making scientific and reasonable decisions about investment scale and structure in the upstream sector,so that they can minimise business risks and obtain high returns.According to the system dynamics theories and methods and based on the actual results from an oil company＇s practice in China,a system dynamics model is built in this paper for analyzing and forecasting the upstream investment scale and structure for an oil company.This model was used to analyze the investment effect of a large oil company in China, and the results showed that the total upstream investment scale will decline slowly in a short period and the investment proportion of different parts should be adjusted if some influencing factors are taken into account.This application practice was compared with the actual data and indicated that the system dynamics（SD） model presented in this paper is a useful tool for analyzing and forecasting of upstream investment scale and structure of oil companies in their investment decisions.展开更多
Agricultural enterprises are integral for agricultural modernization,serving as a bridge between scattered small-scale farmers and modern markets.However,agricultural competitiveness is still weak in China.This paper ...Agricultural enterprises are integral for agricultural modernization,serving as a bridge between scattered small-scale farmers and modern markets.However,agricultural competitiveness is still weak in China.This paper uses the Technique for Order of Preference by Similarity to Ideal Solution(TOPSIS)method to measure the growth performance of China's listed agricultural companies and analyze its influencing factors based on Panel-Corrected Standard Errors(PCSE)to verify whether they are capable of achieving sustainable development.The findings confirm that first,listed Chinese agricultural companies have significantly increased profitability and scale in recent years but are still weak compared to other industries.The growth performance of such enterprises is generally stable,the difference between them is decreasing,and their growth ranking fluctuates greatly,with significant regional and industrial characteristics.Second,technological efficiency,scale,and age are positively related to the growth of listed agricultural companies.The diversification and expansion of business harm the profitability and development of enterprises.Currently,financial support can satisfy the short-term profit-seeking demands of enterprises but is inadequate to improve the ability of enterprises to grow.Third,China's listed agricultural companies need to devise policies through a forward-looking perspective and use them more effectively.Additionally,the transformation opportunities introduced by non agricultural capital into agriculture deserve attention.When agricultural enterprises realize technological progress via modern capital,they understand the importance of utilizing and integrating technological innovation and increase the efficiency of transforming new technology into productivity.Policy orientation should be attentive to the public welfare of these listed companies and take into account the demands of corporate profits to realize the long-term sustainable development of enterprises and regions.展开更多
This survey investigated the relationship between executive compensation and the financial performance of companies. It is hypothesized that a company can utilize its pay system to direct executives＇ efforts toward i...This survey investigated the relationship between executive compensation and the financial performance of companies. It is hypothesized that a company can utilize its pay system to direct executives＇ efforts toward its strategic business objectives, thus contributing to higher levels of corporate financial performance. The survey data consisted of a secondary and non-probabilistic sample of 44 Brazilian industrial companies. In order to operationalize the independent remuneration variable, the authors used average monthly salary, average variable salary, and three indices that were created for this survey： benefits, career, and development. These indices measure the access to benefits, mechanisms for stimulating and supporting careers, and mechanisms to encourage education and professional development that companies offer to their directors, vice presidents, and chief executive officers （CEOs）, who are referred to in this paper by the term ＂executive＂. The remuneration data are from fiscal year 2006. In order to operationalize the financial performance variable, two accounting indicators were used： sales growth and return on equity （ROE） for fiscal years 2006 and 2007. The size of the companies was used as a control variable. The results of a multiple regression analysis do not support the hypothesis that there is a positive and significant relationship between executive compensation and corporate financial performance.展开更多
When an oligopoly company decides how much should be invested in its R＆D, in order to reap the largest profits, it considers not only what its competitors have done but also how its competitors would respond to its a...When an oligopoly company decides how much should be invested in its R＆D, in order to reap the largest profits, it considers not only what its competitors have done but also how its competitors would respond to its action. Therefore, different relationships between oligopoly companies will lead to different responses in their decisions on R＆D investment. A correlation deduced from different responses of oligopoly companies in R＆D investment with the complete information tactic game theory is presented, and the R＆D investment of oilfield service companies was analyzed with this correlation. The correlations of Schlumberger＇s R＆D investment, Halliburton＇s R＆D investment and Baker Hughes＇ R＆D investment were established and analyzed. Meanwhile, two regression models were presented. One was composed of Schlumberger＇s R＆D investment in the previous year and Halliburton＇s R＆D investment. The other was composed of Schlumberger＇s R＆D investment and Baker Hughes＇ R＆D investment in the same year. The accuracy of these two models was proved to be good.展开更多
Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct in...Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct influence on the healthy development of the swine industry.Using the DEA-based Malmquist method,this paper made a static and dynamic evaluation of the operation efficiency of 16 listed companies in China's swine industry in 2010-2014.It obtained following results:(i)The overall efficiency of listed companies of China's swine industry remained at high level and the development trend was excellent.(ii)Different types of enterprises had difference in the overall efficiency,pure technical efficiency and scale efficiency.In general,pig feed processing companies had the best performance,followed by slaughtering and deep processing companies,and swine breeding companies were the worst.(iii)The total factor productivity characterized by the Malmquist index declined year by year in 2010-2013 and was improved in 2014,mainly due to technological progress.(iv)The total asset turnover ratio,equity concentration,and R&D management level had a significantly positive impact on the operation efficiency of listed companies in the swine industry,while the human capital had a significantly negative impact.展开更多
A comprehensive method was developed to assess the transnational operation environment in host countries for Chinese oil companies. This method includes an assessment criterion system of the environment, which is to b...A comprehensive method was developed to assess the transnational operation environment in host countries for Chinese oil companies. This method includes an assessment criterion system of the environment, which is to be scored by the experts. Analytical Hierarchy Process （AHP） and fuzzy mathematical methods were used to make evaluation and get the assessment result and ranking of three host countries.展开更多
The essential feature of agriculture is the interweave- ment of natural reproduction and economic reproduction.In recent years,the natural disasters have become more frequent and badly affect the production management...The essential feature of agriculture is the interweave- ment of natural reproduction and economic reproduction.In recent years,the natural disasters have become more frequent and badly affect the production management and investment benefits.This problem has been an important risk in managing agricultural listed companies and cannot be ignored.It is of great importance to evaluate and prevent the risks of the natural disasters to enhance the competitive ability and increase the profits of those listed companies,thereby keeping the sustainable development of agri- cultural companies.展开更多
文摘As the world grapples with increasing environmental challenges,innovative technologies are essential for promoting sustainability and accountability.This study examined the impact of environmental performance indices(EPIs)on the growth and investment trends of blockchain-based sustainability-focused companies in 15 countries(Belgium,Czechia,Denmark,Estonia,Finland,France,Germany,Italy,Norway,Poland,Sweden,Spain,Switzerland,the United Kingdom,and the United States)from Europe and America during 2010-2022.This study used the negative binomial regression model to assess the relationship between EPIs and blockchain-based sustainability-focused companies based on the data from the CrunchBase and EarthData.Results indicated that in ecosystem vitality,national terrestrial biome protection efforts were negatively correlated the formation of blockchain-based sustainability-focused companies,while global terrestrial biome protection efforts and marine protected areas had a positive impact on the formation of these companies and the number of funding rounds.In environmental health,PM2.5 exposure had a positive impact on the number of funding rounds.Conversely,pollutants such as sulfur dioxide(SO_(2))and ocean plastics deterred the formation of blockchain-based sustainability-focused companies and reduced the number of funding rounds.In climate change performance,adjusted emission growth rate for carbon dioxide(CO_(2)),adjusted emission growth rate for F-gases,and adjusted emission growth rate for black carbon had a significantly positive impact on the formation of blockchain-based sustainability-focused companies.Conversely,adjusted emission growth rate for Nitrous Oxide(N_(2)O)and projected greenhouse gas emissions in 2050 negatively affected the formation of these companies.These findings highlight the dual role of EPIs as driving factors and barriers in the development and investment of blockchain-based sustainability-focused companies in countries from Europe and America.
文摘In July 2025,Claudio Descalzi,CEO of Italian oil company Eni,stated in an interview with the Financial Times that Eni’s low-carbon business operating profits would equal those of its oil and gas business by 2035 and exceed oil and gas business profits by 2040.Meanwhile,British oil company bp is scaling back its low-carbon business under shareholder pressure,returning to traditional oil and gas operations,and plans to gradually dispose of USD 20 billion worth of low-carbon business assets such as onshore wind farms,aiming to increase oil and gas production to 2.3−2.5 million boe per day by 2030.Two European oil companies are heading in completely different strategic directions.In the future,whether Eni can achieve its expected goals of making renewable energy business a key core business,as well as what development strategies oil and gas companies should implement and adhere to,are questions worthy of deep consideration.
文摘As decarbonization pressure on traditional fossil fuel-related industries gradually intensifies,CCUS has been increasingly incorporated into energy transition strategies by various oil companies.From a development opportunity perspective,oil companies possess four key advantages in developing the CCUS industry:exploration and development technology advantages;geological resource advantages;capital advantages;source-sink matching advantages.In terms of challenges,oil companies face numerous issues in developing the CCUS industry,including technological development,economic viability,and policy and legal aspects.At the national level,China’s oil companies should advocate for improving and optimizing relevant laws and regulations,enhancing the policy support system,incorporating CCUS into the carbon trading market,and strengthening top-level design and medium-to long-term planning;at the enterprise level,they should continuously advance full industrial chain technologies and reduce CCUS project operating costs,selectively participate in industrial segments that suit their capabilities,strengthen CCUS full industrial chain operational capabilities,and enhance talent development and strengthen international exchange and cooperation.
文摘This research addresses a vital aspect of corporate sustainability by exploring the impact of ESG disclosures on the performance of petrochemical companies listed on the Saudi Stock Exchange.Focusing on the period from 2020 to 2022,it provides critical insights into how ESG practices contribute to achieving organizational sustainability goals while enhancing financial performance.The study evaluates the relationship between ESG disclosures and key financial efficiency measures,including ROA,ROE,ROS,and ROI.A quantitative analysis was conducted on 153 observations using panel regression and descriptive statistics,incorporating control variables such as firm size,financial leverage,and audit quality to isolate the specific impact of ESG disclosure.The findings reveal a positive relationship between ESG reporting and financial performance,emphasizing the dual role of ESG practices in driving financial success and fostering sustainable development.The study highlights the importance of unified,standardized ESG reporting guidelines to enhance the validity and usability of ESG practices.It also underscores the need to educate investors about the financial implications of ESG,as informed investors are more likely to champion sustainable business strategies.Additionally,the research advocates for targeted workshops aimed at financial report developers to improve the quality and effectiveness of ESG reporting.It provides a valuable contribution to the evolving discourse on sustainable finance.It offers practical recommendations for policymakers,organizations,and investors,thereby fostering the integration of ESG principles into corporate strategies.
文摘Rare earths,as a strategic mineral resource,play a vital role in high-tech industries such as aerospace,national defense and military,electronic information,and new energy.With the accelerated evolution of the new round of technological revolution and industrial transformation,global supply chain security risks have become more prominent.The focus of major countries'resource security assurance has also shifted from bulk minerals to critical minerals.
文摘Chinese consumers browsing e-commerce platforms or walking in supermarket aisles have noticed a new feature:dedicated sections for high-quality export products.Far from being a mere marketing gimmick,this trend emerged due to intense pressure from a slide in global demand.
文摘The implementation of the new revenue standard has a far-reaching impact on the accounting treatment of insurance enterprises,and the application of contract settlement accounts,as the key to connect business and financial accounting,needs to be standardized.This paper analyzes the core requirements of the new revenue standard,combines the special characteristics of insurance contracts with both service and financial attributes,and explains the logic of setting up and accounting methods of secondary accounts,such as insurance service income and investment component apportionment.In view of the practical pain points such as variable consideration apportionment and reclassification of inter-period contracts,the paper proposes strategies for system upgrading and internal control strengthening.The study shows that standardizing the application of accounts can help enterprises implement the requirements of the standard and improve the quality of financial information.
文摘Since 2011,America has maintained its position as the world’s largest natural gas producer.Since 2017,America has consistently experienced a surplus in natural gas supply,becoming a net exporter of natural gas.America’s“natural gas independence”has reshaped the global natural gas market,creating a new pattern of“supply shifting westward and consumption shifting eastward”.
文摘The boom of innovative and new technology-oriented companies that provide products and services to customers in recent years has given rise to a new class of firms called New Economy Companies,or NECs.Accurate valuation of these companies throughout their life cycles can be challenging because most of them have massive amount of debt and have a long history of losses since inception,and their principal assets are mostly intangible with no clear values.Inadvertently,the COVID-19 pandemic has added even more obstacles for valuation providers to determine the value of this new type of companies.This paper examines the characteristics of NECs,valuation methods,and the impact of COVID-19 on the valuation of these companies.
文摘Objective To explore the impact of mergers and acquisitions(M&A)on the innovation performance of the companies from both a patent perspective and a financial perspective by taking the case of M&A Company J as an example.Methods The literature research method,patent data analysis method,and financial data analysis method were used.Results:The M&A has a positive impact on the innovation performance of Company J,and the results from the patent perspective and the financial perspective are consistent.Results and Conclusion The literature research method,patent data analysis method,and financial data analysis method were used.The M&A has a positive impact on the innovation performance of Company J,and the results from the patent perspective and the financial perspective are consistent.
文摘This study investigates volatility spillovers and network connectedness among four cryptocurrencies(Bitcoin,Ethereum,Tether,and BNB coin),four energy companies(Exxon Mobil,Chevron,ConocoPhillips,and Nextera Energy),and four mega-technology companies(Apple,Microsoft,Alphabet,and Amazon)in the US.We analyze data for the period November 15,2017-October 28,2022 using methodologies in Diebold and Yilmaz(Int J Forecast 28(1):57-66,2012)and Baruník and Krehlík(J Financ Economet 16(2):271-2962018).Our analysis shows the COVID-19 pandemic amplified volatility spillovers,thereby intensifying the impact of financial contagion between markets.This finding indicates the impact of the pandemic on the US economy heightened risk transmission across markets.Moreover,we show that Bitcoin,Ethereum,Chevron,ConocoPhilips,Apple,and Microsoft are net volatility transmitters,while Tether,BNB,Exxon Mobil,Nextera Energy,Alphabet,and Amazon are net receivers Our results suggest that short-term volatility spillovers outweigh medium-and long-term spillovers,and that investors should be more concerned about short-term repercussions because they do not have enough time to act quickly to protect themselves from market risks when the US market is affected.Furthermore,in contrast to short-term dynamics,longer term patterns display superior hedging efficiency.The net-pairwise directional spillovers show that Alphabet and Amazon are the highest shock transmitters to other companies.The findings in this study have implications for both investors and policymakers.
文摘The choice of the environmental risk management instrument to be used within the scope of corporate governance in companies is of paramount importance to avoid or mitigate the triple environmental responsibility to which they are exposed.In this sense,the following research problem arises:The Environmental Impact Assessment(EIA),an instrument of the National Environment Policy and a model of environmental risk management adopted by some companies,proves to be efficient,effective and effective for the fulfillment of the duty to protect the environmental balance and,therefore,for sustainable development?The present study aims to elucidate this research problem.To this end,analyzes were carried out on risk and environmental damage,from a perspective of the socio-environmental function of companies today;the need for a new posture by companies in view of the reflexes of environmental risks in business activity;and the question of the adequacy or inadequacy of the EIA as an instrument of the National Environment Policy and as a model for managing environmental risks and damages,in the pursuit of sustainable development.The method of approach used was the deductive one,and the research was carried out using the method of bibliographic procedure,through which research was carried out on books,scientific articles and legislation.The result points out the inefficiency and ineffectiveness of the EIA for the management of environmental risks and,thus,for the fulfillment of the duty to protect the environmental balance by companies.
文摘Oil and gas exploration and production is the most important and key segment in the whole business chain of the petroleum industry.Therefore,oil companies always put much emphasis on making scientific and reasonable decisions about investment scale and structure in the upstream sector,so that they can minimise business risks and obtain high returns.According to the system dynamics theories and methods and based on the actual results from an oil company＇s practice in China,a system dynamics model is built in this paper for analyzing and forecasting the upstream investment scale and structure for an oil company.This model was used to analyze the investment effect of a large oil company in China, and the results showed that the total upstream investment scale will decline slowly in a short period and the investment proportion of different parts should be adjusted if some influencing factors are taken into account.This application practice was compared with the actual data and indicated that the system dynamics（SD） model presented in this paper is a useful tool for analyzing and forecasting of upstream investment scale and structure of oil companies in their investment decisions.
基金Supported by the National Natural Science Foundation of China[Grant number.41871109]the Agricultural Science and Technol‐ogy Innovation Program[Grant number.ASTIPIAED-2021-06].
文摘Agricultural enterprises are integral for agricultural modernization,serving as a bridge between scattered small-scale farmers and modern markets.However,agricultural competitiveness is still weak in China.This paper uses the Technique for Order of Preference by Similarity to Ideal Solution(TOPSIS)method to measure the growth performance of China's listed agricultural companies and analyze its influencing factors based on Panel-Corrected Standard Errors(PCSE)to verify whether they are capable of achieving sustainable development.The findings confirm that first,listed Chinese agricultural companies have significantly increased profitability and scale in recent years but are still weak compared to other industries.The growth performance of such enterprises is generally stable,the difference between them is decreasing,and their growth ranking fluctuates greatly,with significant regional and industrial characteristics.Second,technological efficiency,scale,and age are positively related to the growth of listed agricultural companies.The diversification and expansion of business harm the profitability and development of enterprises.Currently,financial support can satisfy the short-term profit-seeking demands of enterprises but is inadequate to improve the ability of enterprises to grow.Third,China's listed agricultural companies need to devise policies through a forward-looking perspective and use them more effectively.Additionally,the transformation opportunities introduced by non agricultural capital into agriculture deserve attention.When agricultural enterprises realize technological progress via modern capital,they understand the importance of utilizing and integrating technological innovation and increase the efficiency of transforming new technology into productivity.Policy orientation should be attentive to the public welfare of these listed companies and take into account the demands of corporate profits to realize the long-term sustainable development of enterprises and regions.
文摘This survey investigated the relationship between executive compensation and the financial performance of companies. It is hypothesized that a company can utilize its pay system to direct executives＇ efforts toward its strategic business objectives, thus contributing to higher levels of corporate financial performance. The survey data consisted of a secondary and non-probabilistic sample of 44 Brazilian industrial companies. In order to operationalize the independent remuneration variable, the authors used average monthly salary, average variable salary, and three indices that were created for this survey： benefits, career, and development. These indices measure the access to benefits, mechanisms for stimulating and supporting careers, and mechanisms to encourage education and professional development that companies offer to their directors, vice presidents, and chief executive officers （CEOs）, who are referred to in this paper by the term ＂executive＂. The remuneration data are from fiscal year 2006. In order to operationalize the financial performance variable, two accounting indicators were used： sales growth and return on equity （ROE） for fiscal years 2006 and 2007. The size of the companies was used as a control variable. The results of a multiple regression analysis do not support the hypothesis that there is a positive and significant relationship between executive compensation and corporate financial performance.
文摘When an oligopoly company decides how much should be invested in its R＆D, in order to reap the largest profits, it considers not only what its competitors have done but also how its competitors would respond to its action. Therefore, different relationships between oligopoly companies will lead to different responses in their decisions on R＆D investment. A correlation deduced from different responses of oligopoly companies in R＆D investment with the complete information tactic game theory is presented, and the R＆D investment of oilfield service companies was analyzed with this correlation. The correlations of Schlumberger＇s R＆D investment, Halliburton＇s R＆D investment and Baker Hughes＇ R＆D investment were established and analyzed. Meanwhile, two regression models were presented. One was composed of Schlumberger＇s R＆D investment in the previous year and Halliburton＇s R＆D investment. The other was composed of Schlumberger＇s R＆D investment and Baker Hughes＇ R＆D investment in the same year. The accuracy of these two models was proved to be good.
基金Supported by Young Scholar Project of Humanities and Social Science Foundation of Ministry of Education"Study on Stability Mechanism of Symbiosis Network of the Swine Industry"(15YJC630118)
文摘Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct influence on the healthy development of the swine industry.Using the DEA-based Malmquist method,this paper made a static and dynamic evaluation of the operation efficiency of 16 listed companies in China's swine industry in 2010-2014.It obtained following results:(i)The overall efficiency of listed companies of China's swine industry remained at high level and the development trend was excellent.(ii)Different types of enterprises had difference in the overall efficiency,pure technical efficiency and scale efficiency.In general,pig feed processing companies had the best performance,followed by slaughtering and deep processing companies,and swine breeding companies were the worst.(iii)The total factor productivity characterized by the Malmquist index declined year by year in 2010-2013 and was improved in 2014,mainly due to technological progress.(iv)The total asset turnover ratio,equity concentration,and R&D management level had a significantly positive impact on the operation efficiency of listed companies in the swine industry,while the human capital had a significantly negative impact.
文摘A comprehensive method was developed to assess the transnational operation environment in host countries for Chinese oil companies. This method includes an assessment criterion system of the environment, which is to be scored by the experts. Analytical Hierarchy Process （AHP） and fuzzy mathematical methods were used to make evaluation and get the assessment result and ranking of three host countries.
文摘The essential feature of agriculture is the interweave- ment of natural reproduction and economic reproduction.In recent years,the natural disasters have become more frequent and badly affect the production management and investment benefits.This problem has been an important risk in managing agricultural listed companies and cannot be ignored.It is of great importance to evaluate and prevent the risks of the natural disasters to enhance the competitive ability and increase the profits of those listed companies,thereby keeping the sustainable development of agri- cultural companies.
