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Article
Publication date: 15 June 2023

Yaru Huang, Yaojun Ye and Mengling Zhou

This paper aims to build an improved grey panel clustering evaluation model and evaluate the comprehensive development potential of industrial economy, society and ecological…

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Abstract

Purpose

This paper aims to build an improved grey panel clustering evaluation model and evaluate the comprehensive development potential of industrial economy, society and ecological environment in the Yangtze River Economic Belt of China. The purpose of this study is to provide some theoretical basis and tool support for management departments and relevant researchers engaged in industrial sustainable development.

Design/methodology/approach

This study uses the driving force pressure state impact response analysis framework to build a comprehensive evaluation index system. Based on the center point triangle whitening weight function, it classifies the panel grey clustering of improvement time and index weight.

Findings

The results show that there are great differences in the level of industrial ecological development in different regions of the Yangtze River Economic Belt, which further illustrates the scientificity and rationality of the evaluation method proposed in this paper.

Practical implications

Due to the industrial ecological development is in a constantly changing state, and the information is uncertain. Whitening weight function is introduced to represent the complete information of relevant data. The industrial ecological evaluation involves a comprehensive complex system, which belongs to the panel data analysis problem. The improved grey panel clustering evaluation model is applied to grade the industrial ecological development level of the Yangtze River Economic Belt. The results have important guiding significance for the balanced development of industrial ecology in the region.

Social implications

Due to the industrial ecological development is in a constantly changing state, and the information is uncertain. Whitening weight function is introduced to represent the complete information of relevant data. The industrial ecological evaluation involves a comprehensive complex system, which belongs to the panel data analysis problem. In order to improve the effectiveness of industrial ecological evaluation, the improved grey panel clustering evaluation model is applied to grade the industrial ecological development level of the Yangtze River Economic Belt. The results have important guiding significance for the balanced development of industrial ecology in the region.

Originality/value

the new model proposed in this paper complements and improves the grey clustering analysis theory of panel data, that is, aiming at the subjective limitation of using time degree to determine time weight in panel grey clustering, a comprehensive theoretical method for determining time weight is creatively proposed. Combining the DPSIR (Driving force-Pressure-State-Influence-Response) model model with ecological development, a comprehensive evaluation model is constructed to make the evaluation results more authentic and comprehensive.

Details

Grey Systems: Theory and Application, vol. 13 no. 3
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 24 December 2021

Yang Gao, Yangyang Li and Yaojun Wang

This paper aims to explore the interaction between investor attention and green security markets, including green bonds and stocks.

851

Abstract

Purpose

This paper aims to explore the interaction between investor attention and green security markets, including green bonds and stocks.

Design/methodology/approach

This study takes the Baidu index of “green finance” as the proxy for investor attention and constructs several generalized prediction error variance decomposition models to investigate the interdependence. It further analyzes the dynamic interaction between investor attention and the return and volatility of green security markets using the rolling time window.

Findings

The empirical analysis and robustness test results reveal that the spillovers between investor attention and the return and volatility of the green bond market are relatively stable. In contrast, the spillover level between investor attention and the green stock market displays significant time-varying and asymmetric effects. Moreover, the volatility spillover between investor attention and green securities is vulnerable to major financial events, while the return spillover is extremely sensitive to market performance.

Originality/value

The conclusion further expands the practical application and theoretical framework of behavioral finance in green finance and provides a new reference for investors and regulators. Besides, this study also lays a theoretical basis for investors to focus on the practical application of volatility prediction and risk management in green securities.

Details

China Finance Review International, vol. 13 no. 1
Type: Research Article
ISSN: 2044-1398

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