Search results

This paper investigates the impact of AI penetration rate on the degree of corporate greenwashing and aims to assess the potential of AI in enhancing firms' environmental performance and reducing false disclosures.

This study employs a year and firm fixed-effects model to analyze data from Chinese listed firms from 2012 to 2022. We use the low-carbon city pilot as a quasi-natural experiment to address endogeneity concerns and conduct a series of robustness tests, including adding control variables and transforming the model.

The results of this paper show that the application of AI can inhibit firms' greenwashing behavior, with green innovation activities further enhancing this inhibitory effect. In state-owned firms and those with Party Organizations, the inhibitory effect of AI on corporate greenwashing is more significant. This reduction in greenwashing is more likely to be observed in firms that are heavily influenced by Confucian culture, receive higher public attention regarding their environmental impact, face less market competition, suffer from more serious pollution and face less financial constraints.

We propose a new research perspective that offers novel insights into promoting the green development of firms by revealing the potential of AI in reducing their greenwashing behavior. Corporate boards can explore specific strategies for applying AI to monitor, prevent and correct greenwashing, thereby enhancing corporate environmental performance and social responsibility.

This study investigates the causal relationship and mechanisms between the development of digital finance and household carbon emissions. Its objective is to explore how digital finance can influence the carbon footprint at the household level, aiming to contribute to the broader understanding of financial innovations' environmental impacts.

The research combines macro and micro data, employing input-output analysis to utilize data from the China Household Finance Survey (CHFS) for the years 2013, 2015, 2017, and 2019, national input-output tables, and Energy Statistical Yearbooks. This approach calculated CO2 emissions at the household level, including the growth rate of household carbon emissions and per capita emissions. It further integrates the Peking University Digital Financial Inclusion Index of China (PKU-DFIIC) for 2012–2018 and corresponding urban economic data, resulting in panel data for 7,191 households across 151 cities over four years. A fixed effects model was employed to examine the impact of digital finance development on household carbon emissions.

The findings reveal that digital finance significantly lowers household carbon emissions. Further investigation shows that digital transformation, consumption structure upgrades, and improved household financial literacy enhance the restraining effect of digital finance on carbon emissions. Heterogeneity analysis indicates that this mitigating effect is more pronounced in households during the nurturing phase, those using convenient payment methods, small-scale, and urban households. Sub-index tests suggest that the broadening coverage and deepening usage of digital finance primarily drive its impact on reducing household carbon emissions.

The paper recommends that China should continue to strengthen the layout of digital infrastructure, leverage the advantages of digital finance, promote digital financial education, and facilitate household-level carbon emission management to support the achievement of China's dual carbon goals.

The originality of this paper lies in its detailed examination of the carbon reduction effects of digital finance at the micro (household) level. Unlike previous studies on carbon emissions that focused on absolute emissions, this research investigates the marginal impact of digital finance on relative increases in emissions. This method provides a robust assessment of the net effects of digital finance and offers a novel perspective for examining household carbon reduction measures. The study underscores the importance of considering heterogeneity when formulating targeted policies for households with different characteristics.

A commitment to social responsibility is indispensable to the sustainable development of a firm, and corporate social responsibility (CSR) has become a key corporate evaluation indicator. CSR's economic consequences have long been a hot topic in academic research. The authors analyze the relationship between CSR and corporate capital structure and also investigate channels through which such links are transmitted.

Using CSR score (CSRS) data published by China's Hexun (hexun.com) from 2010 to 2018, the authors control some influencing variables of the nature and characteristics of enterprises and discover that CSR can effectively improve firm leverage using ordinary least square regression. In addition, the research results remain robust for other CSR proxies, different dimensions of CSR, alternative measures of leverage and endogenous testing.

The authors discover that CSR can significantly reduce firm leverage. In addition, the research results confirm that investor attention and liquidity are the main channels by which CSR effectively reduces leverage, and other influence channels are worthy of further exploration. After examining the substitution variables and endogenous characteristics of CSR, the results remain robust.

Regarding decision-making and governance within companies, the authors conclude that CSR reports not only announce the status of CSR activities to corporate stakeholders but also reveal information on corporate financial decisions. Considering the widespread agency problems in companies, management may take advantage of investor understanding of CSR reports and conceal real information or disclose false information. They distort investors' understanding of the financial policies of financial reports to achieve their self-interests. Hence, companies must reinforce their governance and construct comprehensive monitoring mechanisms for CSR disclosure to protect their investors, establish a strong corporate reputation and facilitate long-term development.

In recent years, a great deal of work has emerged on eco-cities in China. Specifically, writers have discussed the role of the entrepreneurial state in the construction of eco-cities and have noted the role of these cities in the production of high-end real estate and new forms of capital accumulation and land acquisition. Whilst this chapter supports these arguments, we argue that the emergence of eco-cities in China is tied up with broader socioeconomic and cultural discourses and discourses of governance. We explore these ideas through a qualitative investigation of an eco-city known as the North Lake (Beihu) Ecological New Town (NLENT) located in the city of Jining, Shandong province. Specifically, this project, which involved the collection of documents, photographs and 20 semi-structured interviews, aims to understand the role that discourses of class, taste and consumption play in the fashioning of Chinese eco-cities. In exploring discourses of ‘green conduct’, this chapter also seeks to understand the role of eco-cities in the governmental fashioning of Chinese subjects and bodies. In this regard, this chapter suggests that whilst new forms of green development have played a part in urban expansion, new green real estate zones such as the NLENT have a powerful role to play in the construction and shaping of Chinese identity and behaviour.

This research aims to study the influence of limestone filler on rebar corrosion.

Mortar samples containing 35% calcareous filler and with a rebar inserted in the axis, were cast. Specimens were cured at the open air and during 28 days in lime water. After curing, they were submerged in two electrolytes (tap water and 3% NaCl) and corrosion parameters (corrosion potential and corrosion current) were monitored over time by d.c. techniques. Simultaneously, electrochemical noise measurements were carried out. After corrosion tests, rebars were pulled out by lateral compression, and their surface observed by scanning electron microscopy.

In general, carbonate additions impaired mortar protective properties, especially in the presence of chloride and changed the nature of the protective layer on rebars. The curing process did not introduce significant differences except for mortars with a high water cement ratio cured in lime water for which the beneficial effects of the simultaneous presence of carbonate and lime in the pore solution could be appreciated. The role of carbonate additions is to provide carbonate anions to passivate rebars. This passivation process caused corrosion rates not to be so high. Carbonate anions also deposited on oxide spots which were rendered passive but this process was not uniform. Certain areas on the rebar underwent intense carbonation while others showed increased corrosion rates.

There are not many corrosion studies about the influence of limestone filler on rebars corrosion. Particularly, this paper deals with mortars containing high percentages of carbonate additions. Results showed that the presence of this type of admixture changes the structure of the passive layer and, sometimes, may increase corrosion rates.

This study aims to investigate the micro mechanism of macro rheological characteristics for composite modified asphalt.Grey relational analysis (GRA) was used to analyze the correlation between macro rheological indexes and micro infrared spectroscopy indexes.

First, a dynamic shear rheometer and a bending beam rheometer were used to obtain the evaluation indexes of high- and low-temperature rheological characteristics for asphalt (virgin, SBS/styrene butadiene rubber [SBR], SBS/rubber and SBR/rubber) respectively, and its variation rules were analyzed. Subsequently, the infrared spectroscopy test was used to obtain the micro rheological characteristics of asphalt, which were qualitatively and quantitatively analyzed, and its variation rules were analyzed. Finally, with the help of GRA, the macro-micro evaluation indexes were correlated, and the improvement efficiency of composite modifiers on asphalt was explored from rheological characteristics.

It was found that the deformation resistance and aging resistance of SBS/rubber composite modified asphalt are relatively good, and the modification effect of composite modifier and virgin asphalt is realized through physical combination, and the rheological characteristics change with the accumulation of functional groups. The correlation between macro rutting factor and micro functional group index is high, and the relationship between macro Burgers model parameters and micro functional group index is also close.

Results reveal the basic principle of inherent-improved synergistic effect for composite modifiers on asphalt and provide a theoretical basis for improving the composite modified asphalt.

This research was carried out in response to the need to find new alternative ways of maintaining public lighting with high pressure sodium vapor lamps. The objective was to develop a public lighting maintenance management system based on fuzzy logic that guarantees maximum energy efficiency and is economically feasible.

A preliminary study was carried out on the complaints due to failures of public lighting for three years in the municipality of Camagüey, Cuba, determining the failure rate of each control and the time between failures, a statistical evaluation of the time between failures was carried out identifying that this variable responds to a Weibull distribution, the membership functions of the proposed four linguistic variables and the rule base for their fuzzy sets were created, obtaining as output linguistic variable the mass replacement and cleaning time.

The fuzzy logic maintenance model developed is effective in making better use of the useful life of high-pressure sodium vapor lamps, increasing the time between maintenance operations of mass lamp replacement and mass cleaning of luminaires up to 8 and 9 years, without compromising the required lighting levels and energy efficiency.

The literature contains very few references to the use of condition-based maintenance in this type of system, so a novel approach by a robust heuristic model of street lighting condition-based maintenance management driven by data is proposed, the model integrates through fuzzy logic all the factors that influence the progressive deterioration of these installations and maintenance actions that guarantee compliance with the established service quality standards, with the maximum energy efficiency that is economically justified.

The present paper aims to question the rationale of paying a high remuneration to executives who are presiding over loss-making companies. The neoclassical wage model asserts that the remuneration of executive directors is positively related to their company’s financial performance. However, evidence suggests that executives can obtain a higher level of personal compensation regardless of how the company performs.

The relationship between executive remuneration and performance for viable but loss-making Bombay Stock Exchange (BSE)-listed companies has been studied for 2009-2011. The paper examines the determinants of the level of executive remuneration as well as discerns the strength of the remuneration–performance relationship, both at the overall and across various board hierarchical levels, using the JM sensitivity and HL elasticity models.

Results for univariate and multivariate analyses highlight that both the remuneration–performance sensitivity and elasticity are weak. Further, factors such as ownership structure, risk and industry class moderate the remuneration–performance elasticity. It seems that it is only the lower rung of executive directors whose cash remuneration gets adversely affected with the performance of the company.

The paper offers valuable insight into the complexities relating to the remuneration performance relationship by putting forth a multi-theoretical perspective. The fact that executives are drawing a whopping remuneration while their companies continue to report disappointing results suggests that a catalytic role has to be played by the government so as to ensure that executive remuneration policies and practices are consistent with the company’s long-term objectives and control environment.