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This study examines whether the national innovative city pilot policy (NICP) influences urban entrepreneurship (UE). To examine the underlying causal mechanism, this study modeled the city-level intellectual capital index and financing capacity (FC) in the relationship between NICP and UE.

An empirical model of NICP, intellectual capital, FC and entrepreneurship is conceptualized based on theoretical analysis. Using a quasi-natural experiment of China’s NICP, with a sample of 280 prefecture-level cities in China from 2003 to 2018, propensity score matching with difference-in-differences (PSM-DID) is used to empirically test the NICP’s impact on UE, mediating effects of intellectual capital and moderation effects of FC.

The results show that the NICP can significantly motivate UE. Intellectual capital plays mediating effects on the relationship between NICP and UE. Moreover, the NICP and intellectual capital’s effects on UE are moderated by FC.

This study provides an important reference for promoting UE through intellectual capital and FC in the construction of the NICP.

This is a pioneering study that develops a theoretical model to incorporate NICP, intellectual capital, FC and UE. This paper applies experimental governance theory in innovative urban scenarios, and verifies its applicability and particularity in the Chinese context.

This paper aims to explore the impact of product market competition (PMC) on companies’ investment in external auditing.

This paper applies a conceptual framework derived from demand–supply analysis and a panel data set of 2,263 listed manufacturing companies in China covering the period 2012–2019. In the assessment of PMC, this study measures industry-level competition intensity and company-specific market power separately.

Industries appear to engage in a lower average level of external auditing if industrial competition intensity is either too high or too low. Similarly, companies spend less on external auditing if their market power is either too strong or too weak, and the company-level inverted U-shaped relationship is much more evident in industries with weak PMC.

This paper shows that a company’s external audit strategy is affected by the level of competition it faces in its market. The findings of this paper can improve the current linear PMC–auditing theoretical framework and provide insights into the strategic auditing of listed companies in China. The findings also have significant implications for policy recommendations regarding corporate governance and market scrutiny regulations.

In recent years, to solve the contradiction between energy supply and demand, the Chinese Government has vigorously promoted shale gas development. With the rapid development of the shale gas industry, the environmental impact problems have become increasingly serious. Therefore, it is of great significance to carry out a comprehensive environmental impact assessment of shale gas development. This study aims to provide a theoretical basis for enterprises to make development decisions on shale gas projects by constructing a model of comprehensive environmental impact assessment for shale gas development.

In this paper, the comprehensive environmental impact factors of shale gas development are analyzed from the two aspects of the natural environment and macro environment, and the index system of comprehensive environmental impact assessment for shale gas development including 7 secondary indicators and 24 tertiary indicators is constructed. Owing to the fact that qualitative indicators are difficult to quantify in the evaluation process, the method of intuitionistic fuzzy analytic hierarchy process (IFAHP) is adopted for evaluation. This method (IFAHP) can delicately describe the hesitancy degree of the decision-makers in the process of assigning a weight to the indicators, and make the weight assignment of each index more accurate. Furthermore, this method overcomes the shortcomings of the conventional methods, such as the complexity of calculation and the large amount of calculation.

The evaluation model is applied to a shale gas platform drilling project in Southwest China. Based on the ratings from 13 experts, the comprehensive environmental impact assessment grade of this project is good, indicating that the shale gas development project is feasible. The result is basically in line with the actual situation.

Based on the consideration of the natural environmental impacts of shale gas development, this paper also has considered the macro environmental impact of shale gas development, and has established the index system of comprehensive environmental impact assessment for shale gas development from the two aspects of the natural environment and macro environment. To overcome such difficulties as incomplete evaluation by decision-makers, cumbersome calculation process and a large amount of calculation, this paper has adopted the method of IFAHP to evaluate and has established a comprehensive environmental impact assessment model for shale gas development based on IFAHP.

The purpose of this paper is to investigate the influence of trust and perceived risk on investment willingness considering the bidirectional relationship between trust and perceived risk in peer-to-peer (P2P) lending.

Data were collected from a leading Chinese P2P platform, PPDAI.com. In total, 328 valid responses were received and analyzed using structural equation modeling (SEM).

The results show that the influence of trust on investment willingness is significant, whereas that of perceived risk is insignificant. The results also indicate that platform reputation has a positive effect on trust, and the quality of alternatives is positively associated with perceived risk. In addition, the bidirectional perspective should be preferred to cope with the bidirectional relationship between trust and perceived risk in P2P lending.

This study extends existing research on the influence of trust and perceived risk on investment willingness from a bidirectional perspective, which has not been addressed in the P2P lending context. In addition, this research enriches the current literature about trust and perceived risk by providing more evidence that the relationship between trust and perceived risk is bidirectional and thus the bidirectional model should be preferred. For practice, the study suggests that managers can earn trust and reduce the perceived risk of lenders by continuously providing high-quality products, services and enhancing platform reputation, ultimately improving their investment willingness.