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This empirical study aims to examine the association between gender-diverse boards and corporate carbon emissions and estimates the effect of board gender diversity on stock price reactions to climate activism. This study contributes to the inconclusive literature on the link between gender-diverse boards and firms' financial performance by examining a single and plausibly isolated channel of association (i.e. attention to climate change).

The authors use parametric and non-parametric panel data techniques to examine the association between gender-diverse boards to corporate carbon emission. The system generalized methods of moments (SYS-GMM) estimator is used to address endogeneity concerns. The authors use the event study methodology to examine difference in stock price reactions to climate activism.

The results show that high board gender diversity is associated with lower corporate carbon emissions and higher stock returns to climate activism.

This is the first study to isolate public attention to climate change as a relevant channel through which gender-diverse boards have an impact of firms' financial performance. This study is timely and important due to the immediate threat of global warming and the recent introduction of mandatory board gender quotas in many countries around the world.

This study investigates the effects of elements of corporate governance along with firm specific variables on the financial leverage of listed Indian firms in the context of agency conflicts and new governance laws.

A series of panel ordinary least squares as well as fixed/random effects regression models of book and market value of financial leverage on variables of corporate governance (board size, board composition, board meeting, board attendance and board gender) along with a set of control variables (asset tangibility, firm size, growth, liquidity and profitability) were estimated by employing 113 listed Indian firms during 2010–2021. Dynamic panel generalized method of moments models were also estimated to check the robustness of empirical results. Further, the full sample of firms was divided into small and large board sized companies using the median approach to investigate differences between small and large board characteristics on financial leverage.

The evidence predominantly suggested that the governance variables have significant impact on leverage ratios of selected firms. Governance variables such as board size, composition, attendance and gender are significantly found to be reducing the financial leverage of firms indicating that in general these attributes in a way, through monitoring managers, put pressure on them to pursue lower financial leverage. Board meeting is found to be positive and significantly related with financial leverage suggesting that the frequency of meetings signals its monitoring ability that may influence lenders' risk assessment lowering borrowing cost. The results on small and large board sized companies indicate that firms with small boards relatively issue more debt compared to firms with large boards suggesting that small boards adopt high debt policy.

The main policy implication of the study is that elements of internal corporate governance is a significant governance tool that has the potential to reduce agency conflict between the managers and agents through monitoring and decision making that has tangible effects on critical corporate decisions such as capital structure choices.

This paper contributes to the existing literature by bringing new evidence relating to agency conflicts and capital structure decisions in an emerging market like India post adoption of new regulations related to corporate governance specified in Clause 49 of Securities and Exchange Board of India and Companies Act, 2013 as there is significant dearth of such empirical work.

The scope of this work is to explore whether Regional Comprehensive Economic Partnership (RCEP) would be beneficial to Bangladesh, given Bangladesh's strong ties with India and the west.

Using extended gravity equation and data from Head and Mayer (2021) and the Direction of Trade Statistic (IMF, 2021) for Bangladesh with its applicable partner countries from 1972 till 2019, the authors attempted to examine the potential impact of joining RCEP while keeping its relationship with South Asian Association for Regional Cooperation (SAARC), and other existing economic integration schemes intact.

Using traditional pooled ordinary least squares, two-stage least square and generalized method of moment techniques, it has been revealed that conventional partners in the South led by India are still beneficial to Bangladeshs trading line. Joining RCEP provides ample avenues for trade expansion without replacing the positive effects of SAARC.

Traditional partners from European, American and South Asian trading opportunities are still paying enough dividends to Bangladesh. RCEP is providing a trade-enhancing chance for Bangladesh in the eastern direction. This paper provides a policy suggestion to look east policy of government. A total overhaul of her tax structure through minimizing excessive reliance on import tariff revenue is desired to facilitate her to join RCEP in the future because most of its prospective RCEP partners are import partners.

This is the first and the only study which explores the feasibility of Bangladesh to join the RCEP by using the most recently updated gravity data in a panel framework.

1. Since its inception on November 15, 2020, Regional Comprehensive Economic Partnership (RCEP) has emerged as one of the largest economic integration areas in the world.

2. As a borderline country between South Asia and RCEP, Bangladesh is in a fix to take a decision either to join or not to join RCEP if they are invited.

3. This paper used the gravity equation in an extended form by taking Bangladesh with its 197 trading partners’ trade data for 1972–2019.

4. The findings postulate that the existing relationship with SAARC countries is still beneficial to its welfare, and RCEP is also economically helpful in enhancing its trade.

Since its inception on November 15, 2020, Regional Comprehensive Economic Partnership (RCEP) has emerged as one of the largest economic integration areas in the world.

As a borderline country between South Asia and RCEP, Bangladesh is in a fix to take a decision either to join or not to join RCEP if they are invited.

This paper used the gravity equation in an extended form by taking Bangladesh with its 197 trading partners’ trade data for 1972–2019.

The findings postulate that the existing relationship with SAARC countries is still beneficial to its welfare, and RCEP is also economically helpful in enhancing its trade.

This study considers the “technology creation” characteristic of technical knowledge-intensive business services (T-KIBS) and examines how human capital and intellectual property rights (IPR) protection affect the location choice of foreign direct investment (FDI) in China for two types of T-KIBS: (1) information transmission, software and information technology (ICT) services and (2) scientific research and technology (SCI) services.

Our empirical analysis is based on panel data on 22 Chinese provinces from 2009 to 2017. We use the generalized method of moments estimation for the regression analysis.

FDI in ICT services prefers regions with high human capital, while FDI in SCI services favors regions with good IPR protection.

Future research could use more comprehensive data and qualitative interviews to enhance the findings.

These findings provide a foundation for China’s future policy on attracting FDI into T-KIBS, especially in areas related to human capital and IPR protection.

This study bridges the research gap on the FDI location choice of T-KIBS in China by clarifying the influences of human capital and IPR protection and providing theoretical support for the location choice of T-KIBS FDI.

In this study, as part of an attempt to foster sustainable development, the aim is directed at understanding the perspectives of domestic economic, financial and political risks in tourism development. On the other hand, the role of other agents of sustainable development: innovation, infrastructure, health and primary education and global crisis in tourism development, was illustrated.

To achieve this objective, the current study explored the (system) SYS-Generalized Method of Moments (GMM) technique for a panel of selected 73 economies over the period 2006–2017. This GMM approached is not undertaken without first establishing the stationarity (a preliminary test) of the employed dataset by utilizing the relevant unit root techniques.

First, the study found that minimizing risks from economic, financial and political aspects is significant and vital to the attractiveness of the tourism destinations and the eventual development of the tourism sector. Second, the study presents innovation or technological readiness and health and primary education as agents of sustainable development through the growth of international tourism arrivals while global crisis is significantly detrimental to tourism inflow.

Overall, the study presents the contribution of tourism as a pathway to sustainable development from unique dimensions. Investigating a large panel (of 73 countries) is a unique approach. In addition, considering the economic vulnerability of the panel countries from the aspects of risk arising from economic, financial and political aspects is another interesting dimension to the novelty of the study. Thus, this study offers relevant policies for tourism stakeholders.

This paper investigates how the gap between the host country's actual and optimal financial conditions affects foreign direct investment (FDI) inflows through evidence from China.

The authors first employ principal component analysis (PCA) to measure FDI target countries' actual financial conditions and use 30 OECD countries as a reference group to assess the optimal financial condition. The authors then estimate a two-way fixed effect model with panel data of China's outward FDI in 64 countries for the period 2003–2017 to get the regression results. The authors' results overcome endogeneity and are robust.

Results show that (1) the gaps between host countries' actual and optimal financial conditions positively affect FDI inflows from China; (2) there is a heterogeneous effect between low-income and high-income countries. The gaps for high-income countries significantly increase FDI inflows from China, while the gaps are not significant for low-income countries.

The authors examine how the gap affects FDI inflows from China. An increase of 1% in the target country's gap promotes a 6.3% increase in FDI inflows. However, the authors do not explore what mechanisms are key to these results. The authors will explore these questions in the future.

This paper complements the influence factors of FDI and enriches theories of FDI. The gap between actual and optimal financial conditions plays an essential role in FDI flows across countries for policymakers.

This study aims to examine how degree of servitization and breadth of servitization affect the firm performance, and the moderating roles of corporate social responsibility (CSR) and green innovation.

The hypotheses are tested using panel data regression models from 2010 to 2020 based on 10,539 firm-year observations from 2,362 Chinese listed manufacturers.

Considering the classification of servitization, the results show that both degree and breadth of servitization have positive impacts on firm performance. In addition, CSR strengthens these impacts, while green innovation only strengthens the impact of degree of servitization on firm performance.

This study suggests that manufacturers should obtain greater profits by actively implementing the servitization strategy, and effectively take their social responsibility by achieving value co-creation with stakeholders. Also, they should carry out green innovation, develop green products and provide eco-friendly services.

This study contributes to the servitization literature by deepening the understanding of the value creation effect of services based on the service-oriented logic. Also, this study contributes to the sustainability literature stream by revealing the moderating roles of CSR and green innovation based on the stakeholder theory.

This study aims to investigate the impact of government support on the coupling coordination degree of innovation chain and capital chain in integrated circuit (IC) enterprises and to explore the mechanism for considering talent in the influence path.

This paper uses coupling coordination degree model to estimate the coupling of two chains, and applies dynamic panel system generalized method of moments (system-GMM) to analyze the impact of government support on coupling of two chains and conducts dynamic panel threshold regression to explore the threshold effect of talent in the influence of government support on coupling coordination degree.

Serious imbalance in the coupling of two chains is a major obstacle in IC enterprises. Government support significantly reduces the coupling coordination degree. The talent in IC enterprises has a significant threshold effect. When the number of talent is lower than the threshold value, government support has a negative impact. Once the number of talent reaches a certain level, government support can significantly enhance the coupling of two chains. Compared with state-owned enterprises, government support has a greater negative impact on the coupling of the two chains in non-state-owned enterprises. The former needs more talent to take advantage of government support.

This paper applies the concept of coupling into enterprises and deeply studies the coupling coordination degree of two chains. The influence mechanism of government support and talent on the coupling of two chains is explored, which reveals that government support cannot achieve the expected incentive effect without the support of talent. We also discuss the heterogeneous effect of government support and of talent in enterprises of different ownership types.

This paper aims to explore the impact of business environment on high-quality economic development (HQED) and clarify the role of technological innovation and government intervention in this relationship.

Based on China’s provincial panel data from 2010 to 2019, this paper adopts the system generalized method of moments to empirically analyze the influential mechanism and heterogeneity of the business environment on HQED. Furthermore, the authors construct a dynamic panel threshold model to test the threshold effect of government intervention.

The results indicate that optimizing the business environment can significantly promote HQED, technological innovation plays a partial mediating role in the impact of business environment on HQED, mainly by enhancing the intensity of innovation input and increasing innovation output to facilitate HQED. Government intervention can regulate the impact of business environment on HQED, and there is a double threshold effect, and it possesses an inverted U-shaped feature of first promoting and then inhibiting.

This paper examines the influence path of business environment on HQED from the perspective of technological innovation and government intervention, filling the gap in the study of provincial business environment. Moreover, the conclusions furnish a theoretical basis for optimizing the business environment and facilitating the HQED in China.

The aim of the research is to examine in depth the relationship between financial support, entrepreneurship and economic growth in emerging African economies.

The study adopts the system-generalized methods of moments (sys-GMM) technique for data analysis and hypothesis testing on a sample of 34 African emerging economies (340 observations) from 2010 to 2019.

The results show that there is significant positive correlation between financial support, entrepreneurship, and economic growth. Moreover, entrepreneurship served as a partial mediator between financial support and economic growth in African emerging economies.

This research suggests that African governments should focus on entrepreneurial systems, which are essentially networks driven by the pursuit of individual opportunities and the promotion of new business creation; and introduce other forms of financial assistance, such as loans, loan guarantees, interest subsidies, technical assistance, insurance, etc.

The main novelty of the paper is that the authors empirically investigate the mediating role of entrepreneurship in the association between financial support and economic growth in 34 African emerging economies.