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This paper aims to systematically demonstrate a methodology to determine the relative and absolute encapsulation efficiencies (α_Re and α_Ab) for thermally- and chemically-robust inorganic pigments, typically like ZrSiO₄-based pigments, thereby enhancing their coloring performance.

The authors designed a route, surplus alkali-decomposition and subsequently strong-acid dissolution (SAD2) to completely decompose three classic zircon pigments (Pr–ZrSiO₄, Fe₂O₃@ZrSiO₄ and CdS@ZrSiO₄) into clear solutions and preferably used inductively coupled plasma-optical emission spectrometry (ICP-OES) to determine the concentrations of host elements and chromophores, thereby deriving the numeric data and interrelation of α_Re and α_Ab.

Zircon pigments can be thoroughly decomposed into some dissoluble zirconate–silicate resultants by SAD2 at a ratio of the fluxing agent to pigment over 6. ICP-OES is proved more suitable than some other quantification techniques in deriving the compositional concentrations, thereby the values of α_Re and α_Ab, and their transformation coefficient K_RA, which maintains stably within 0.8–0.9 in Fe₂O₃@ZrSiO₄ and CdS@ZrSiO₄ and is slightly reduced to 0.67–0.85 in Pr–ZrSiO₄.

The SAD2 method and encapsulation efficiencies are well applicable for both zircon pigments and the other pigmental or non-pigmental inhomogeneous systems in characterizing their accurate composition.

The authors herein first proposed strict definitions for the relative and absolute encapsulation efficiencies for inorganic pigments, developed a relatively stringent methodology to determine their accurate values and interrelation.

Green technology innovation is the organic combination of green development and innovation driven. It is also a powerful guarantee for shaping sustainable competitive advantages of manufacturing enterprises. To explore what kind of executive incentive contracts can truly stimulate green technology innovation, this study aims to distinguish the equity incentive and reputation incentive, upon their contractual elements characteristics and green governance effects, and then put forward suggestions for green technology innovation accordingly.

This study establishes an evaluation model and uses empirical methods to test. Concretely, using data from A-share listed manufacturing companies for the period from 2007 to 2020, this study compares and analyzes the impact of equity and reputation incentive on green technology innovation and explores the relationship between internal green business behavior and external green in depth.

This study finds that reputation incentives focus on long-term and non-utilitarian orientation, which can promote green technology innovation in enterprises. While equity incentives, linked to performance indicators, have a inhibitory effect on green technology innovation. Internal and external institutional factors such as energy conservation measures, the “three wastes” management system, and environmental recognition play the regulatory role in the relationship between incentive contracts and green technology innovation.

Those findings validate and expand the efficient contracting hypothesis and the rent extraction hypothesis from the perspective of green technology innovation and provide useful implications for the design of green governance systems in manufacturing enterprises.

The operation of water environment treatment Public-Private Partnership projects (WETP-PPP) is crucial to the project effectiveness. However, there are often problems in projects that attach importance to construction and neglect operation management, which seriously affect the project operation effect. To ensure the good operation effect of the WETP-PPP, an evolutionary game model of the regulation strategy during the operation period of WETP-PPP is constructed.

An evolutionary game model of regulation is established which considers the government, the project company and the public in water environment treatment Public-Private Partnership projects (WETP-PPP). Five scenarios of equilibriums and the game's evolutionary stable strategies are analyzed, and the corresponding stability conditions are then obtained. Finally, through the simulation, the influence of different factors on the choice of the three-party strategy is analyzed.

First, the key factors that affect the evolution game are the regulation costs and performance rewards of the government, the project company's operation costs and penalties for opportunism and the public supervision costs and rewards. Second, in order to ensure the operation effect, the government needs the performance incentive from the superior government. Third, the public's supervision enthusiasm needs to be mobilized by the government. Last, the penalty strength of speculative operation should be strong enough to play a deterrent role.

The theoretical research in this paper has some limitations. Initially, due to the large number of participants in WETP-PPP, in addition to the government department, the project company and the public studied in this paper, it also involves the consulting industry and financial institutions. In the future, more participants can be added to form four-party interest relationships and conduct four-party evolutionary game research. Second, the operation environment of WETP-PPP is complex and changeable, and various influencing factors are intertwined, the number of parameters involved in this paper is limited, and further detailed research is needed in the future.

Based on the evolutionary game theory, this article discusses the evolution law of the tripartite game behavior of the government department, the project company and the public, which is helpful to clarify the strategy evolution path of the tripartite in the WETP-PPP, and the generation condition and evolution mechanism of the equilibrium strategy of the tripartite game. The key parameters affecting the tripartite strategy selection are analyzed through simulation, which can provide reference for the government department to formulate relevant measures. At the same time, it broadens the application field of evolutionary games and supplements the research on the management mechanism of WETP-PPP during the operation period.

Based on the evolutionary game theory, this paper introduces the supervision behavior of the public, which can provide a new perspective for researchers to conduct relevant research. Secondly, for the regulation during the operation of WETP-PPP, this paper can provide reference for the government department to establish a scientific public supervision system, improve the government supervision mechanism and other relevant measures, which can help promote the public supervision willingness, improve the regulation efficiency of the government and guide the project company to reduce speculation, so as to ensure the effect of water environment management.

This paper focuses on the regulation of WETP-PPP during the operation period to research interactions among the government, the project company and the public. Based on the analysis of the evolutionary game, some suggestions are put forward, such as perfecting the government regulation mechanism, optimizing the reward and punishment system for the project company and broadening the channels of public supervision. The research results of this paper can provide support for the government's regulation of WETP-PPP and ensure the project operation effect.

Considering rapid digitalization development, this study examines the impacts of digital technology innovation on social responsibility in platform enterprises.

The study applies the event study method and cross-sectional regression analysis, taking 168 digital technology innovations for social responsibility issued by 88 listed platform enterprises from 2011 to 2022 to study the impact of digital technology innovations for social responsibility announcements of different announcement content and platform attributes on the stock market value of platform enterprises.

The results show that, first, the positive stock market reaction is produced on the same day as the digital technology innovation announcement. Second, the announcement of the platform’s public social responsibility and the announcement of co-innovation and radical innovation bring more positive stock market reactions. In addition, the announcements mentioned above issued by trading platforms bring more positive stock market reactions. Finally, the social responsibility attribution characteristics of the announcement did not have a significant differentiated impact on the stock market reaction.

Most scholars have studied digital technology innovation for social responsibility through modeling rather than second-hand data to empirically examine. This study uses second-hand data with the instrumental stakeholder theory to provide a new research perspective on platform social responsibility. In addition, in order to explore the different impacts of digital technology innovation on social responsibility, this study has classified digital technology innovation for social responsibility according to its social responsibility and digital technology innovation characteristics.

This article aims to clarify the impact of stock market liberalization on corporate green technology innovation, analyze its mechanism from the perspectives of financing constraints and environmental management level and explore heterogeneity.

Using the panel data of Chinese enterprises from 2010 to 2020, this article adopts the multi-point difference-in-difference (DID) method to test the impact of stock market liberalization on enterprise green technology innovation and its conduction pathway.

The outcomes demonstrate that stock market liberalization contributes to the furthering of green technology innovation. The heterogeneity test reveals that this promotion is more pronounced for private companies, small-scale companies and companies with high information transparency. The mediating effect test shows that stock market liberalization boosts green technology innovation by alleviating corporate financing constraints and improving corporate environmental management.

This article elucidates the impact path of stock market liberalization on corporate green innovation based on alleviating corporate financing constraints and improving corporate environmental management levels. From the perspective of corporate green technology innovation, this article provides evidence from emerging market countries for the economic effects of capital market opening, which helps to further improve the level of green innovation.

For survival and prosperity, enterprises must pursue exploitative and exploratory innovations simultaneously. To accelerate technological breakthroughs in the wind power industry, the Chinese Government has promulgated several support programs from the demand and supply sides. This study assesses the impact of different categories of innovation policies on exploitative and exploratory innovation. As women also play an increasingly important role in corporate governance, the authors also elucidate the moderating role of female executives in these relationships.

Based on micro-data of 119 listed Chinese wind power firms during 2006–2020, this study provides a theoretical model and tests the hypotheses.

Both demand-side and supply-side innovation policies significantly facilitate exploitative and exploratory innovations of in the Chinese wind power industry. Furthermore, female executives enhance the effects of these policies on exploitative innovation but negatively moderate their effects on exploratory innovation.

Innovation is generally considered homogeneous. This is one of the first studies to evaluate the impact of different categories of innovation policies on exploitative and exploratory innovations. In addition, although the increasingly important role of women in corporate governance is acknowledged, whether and how female executives affect the effectiveness of innovation policies has not been fully explored. This study advances the understanding of the potential impact of female executives on innovation policy effectiveness.

As the cost of completing a transaction, the green merger and acquisition (M&A) premium paid on mergers can influence whether the acquisition creates value or not. However, studies linking M&A premiums to firm value have had mixed results, even fewer studies have examined the effect of green M&A premiums on bidders’ firm value. The purpose of this paper is to investigate whether and how green M&A premiums affect firm value in the context of China’s heavy polluters.

Using 323 deals between 2008 and 2019 among China’s heavy polluters, this paper estimates with correlation analysis and multiple regression analysis.

Green M&A premiums are negatively associated with firm value. The results are more significant when firms adopt symbolic rather than substantive corporate social responsibility (CSR) strategies. Robustness and endogeneity tests corroborate the findings. The negative relation is stronger when acquiring firms have low governmental subsidy and environmental regulation, when firms have overconfident management, when firms are state-owned and when green M&A occurs locally or among provinces in the same region. This study also analyzes agency cost as an intermediary in the relationship between green M&A premium and firm value, which lends support to the agency-view hypothesis.

This study provides systemic evidence that green M&A premiums damage firm value through agency cost channel and the choice of CSR strategies from the perspective of acquirers. These findings enrich the literature on both the economic consequences of green M&A premiums and the determinants of firm value and provide a plausible explanation for mixed findings on the relationship between green M&A premiums and firm value.

Previous studies on housing affordability in China were concentrated in China’s coastal and central regions. The purpose of this paper is to investigate housing affordability of urban residents in Northwest China. Moreover, this paper attempts to understand the consistency and influencing factors of various indicators on the evaluation of housing affordability.

This paper uses multiyear data on house sales, residents’ incomes and living expenses from 2011 to 2022. House price-to-income ratio, housing affordability index and residual income approach were calculated by using these data and used as the measure of housing affordability.

The results show that there are obvious differences in the housing affordability among the Xi’an, Lanzhou and Yinchuan during 2011–2022, and the housing affordability of residents in cities with small population and economic scale is better. The ability of most urban residents to afford suitable housing is still poor, and the ability to afford small-sized housing is better. Most families with below-middle income have poor housing affordability. It is also observed that although various indicators had similarities in the evaluation of residents’ housing affordability, the comprehensive evaluation results of multiple indicators were more reliable.

The research results provide a basis for the decision-making of the government’s urban housing policy and improvement of residents’ housing conditions.

The results have a clear understanding of the housing affordability of urban residents in Northwest China. The study found that the geographical location and topography of the city is also a factor affecting the housing affordability.

Effectuation, which articulates the process of entrepreneurial action based on nonpredictive control logic, is receiving extensive scholarly attention. What drives the effectual entrepreneurship is featured with high complexity. However, existing studies ignored the complex driving forces underlying entrepreneurial decision-making. Building on a configurational perspective, the purpose of this study was to examine the combinative effects of environmental uncertainty and entrepreneurs’ means on effectual entrepreneurship.

Drawing on 54 entrepreneurs who are launching new ventures in China, this study adopts a fuzzy-set Qualitative Comparative Analysis (fsQCA) to investigate two sets of antecedent conditions and how they form different combinations for a highly effectual entrepreneurship.

Our findings disclose four highly effectual entrepreneurship paths involving novice–specialist effectual entrepreneurship in a highly uncertain environment, socialite–specialist effectual entrepreneurship in a highly uncertain environment, pure-specialist effectual entrepreneurship and resourceful effectual entrepreneurship, and one path of barefoot noneffectual entrepreneurship in a highly uncertain environment, which reveals the complex nature of environmental uncertainty and entrepreneurs’ means in driving entrepreneurs to adopt effectuation.

Our study makes the following contributions. First, by taking a configurational perspective, we are able to obtain an elaborate view of the combined effects of environmental uncertainty and entrepreneurs’ means on effectual entrepreneurship. Second, we expand prior thinking on the relationship between environmental uncertainty and effectuation. Third, our study offers a more delicate understanding of entrepreneurs’ means in driving effectuation by splitting means into three separate factors.

The coronavirus disease (COVID-19) pandemic continues to impact economic systems, with devastating consequences on livelihoods. Anecdotal evidence has predicted the adverse effects of COVID-19 on the livelihood of food system actors. Uganda experienced two lockdowns in March 2020 and June 2021 with varying government containment measures. During the first lockdown, fresh food market vending was deemed essential to meet urban food demand, and was consequently exempted from a total shutdown despite the ban on public and private transport. Thus, this study sought to examine the effect of COVID-19 containment measures on fresh food market vending businesses in Uganda.

Using primary data collected from fresh food market vendors, this study applied a pooled time-series estimation to examine the effect of the first lockdown COVID-19 containment measures on fresh food vendors' welfare.

The study revealed that COVID-19 had a significant negative impact on the income of fresh food vendors, with female vendors being the most affected. COVID-19 containment measures reduced the diversity of buyers, individual customers and the number of commodities traded in causing a greater impact on vendors' income.

The unavailability of data for vendors who did not return to the market at the time of data collection limits the scope of the study. Additionally, the absence of data for the second lockdown limited the analysis to only March 2020 lockdown period.

The empirical analysis highlights how vulnerabilities of different gender categories could be exacerbated by crises. The study provides empirical evidence of various market distortions caused by the COVID-19 pandemic and the disproportionate impact on women and men market vendors which calls for the need to integrate women's perspectives in future planning for market systems as well as advocating for gender-sensitive recovery responses.