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This paper aims to investigate the impact of corporate culture on stock price crash risk and explore the underlying mechanisms.

This paper uses a novel firm-level culture measure of Li et al. (2020), which evaluates corporate culture from the perspectives of integrity, teamwork, innovation, respect and quality. Using a sample of 4,017 US firms from 2001 to 2018, this paper uses panel data regressions to explore the impact of corporate culture on stock price crash risk.

This paper finds that among five cultural dimensions, integrity reduces crash risk and quality increases crash risk. The mitigating effect of integrity culture on crash risk is concentrated among firms with a strong incentive or ability to hoard bad news. The exacerbating effect of quality culture on crash risk is concentrated among firms with low managerial flexibility.

This paper helps investors and regulators to understand the determinants of stock price crash risk, which facilitates investors’ wealth management and stabilizes social welfare.

To the best of the authors’ knowledge, this is the first study that uses time-varying firm-level measure of corporate culture to investigate its impact on stock price crash risk, contributing to the literature on the determinants of crash risk. Besides, this is the first study that explores the possible mechanism of managerial flexibility in influencing stock price crash risk.

The purpose of this study is to investigate the impact of firms’ financing activities on the environment. Faced with a deteriorating global environment, both corporations and regulatory bodies have become more responsive to environmental conservation problems. However, existing literature has not adequately addressed the question of whether and how firms’ business activities influence the environment.

Using the daily air pollution indices of 120 Chinese cities from 2001 to 2012, this study found that air pollution is alleviated after firms’ initial public offerings (IPOs). This paper proposes that firms’ IPOs influence the ambient air pollution through three channels: production scale, technical reform and corporate governance effects.

The authors of this study found that the proceeds acquired in IPOs result in enlarged production scales that increase pollution, while the investment of these proceeds in social responsibility-related technical reform and enhanced corporate governance reduce pollution. Moreover, the authors discover that firms with a higher state ownership emit fewer pollutants, thus supporting the positive monitoring role of the Chinese government.

Although this study investigates the impact of IPOs on air quality in China, the proposed analytical framework also applies to studies of other financing activities in global markets. This study has important policy implications for government regulations in environmental controls.

This paper aims to reduce environment pollution caused by benzotriazole. The authors chose one of the best inhibitors from 2-aminobenzimidazole, 2-methylbenzimidazol, 2-mercaptobenzimidazole and benzimidazole in combination with benzotriazole.

The electrochemical measurement indicated that 2-methylbenzimidazol had the best inhibition behavior. Then, it was mixed with benzotriazole. Techniques such as field emission scanning electron microscopy, atomic force microscopy, Raman spectroscopy and optical contact angle measurements were used.

The results showed that the inhibition efficiency was up to 99.98%, when the mixture concentration was 20 mmol/L and the molar ratio 1:1.

1-benzotriazole was mixed with 2-methylbenzimidazol for the first time. During the exist of methyl, 2-methylbenzimidazol has the better inhibition; this point was ignored by researchers.