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Green energy as a transportation supply trend is irreversible. In this paper, a highway energy supply system (HESS) evolution model is proposed to provide highway transportation vehicles and service facilities with a clean electricity supply and form a new model of a source-grid-load-storage-charge synergistic highway-PV-WT integrated system (HPWIS). This paper aims to improve the flexibility index of highways and increase CO₂ emission reduction of highways.

To maximize the integration potential, a new energy-generation, storage and information-integration station is established with a dynamic master–slave game model. The flexibility index is defined to evaluate the system ability to manage random fluctuations in power generation and load levels. Moreover, CO₂ emission reduction is also quantified. Finally, the Lianhuo Expressway is taken as an example to calculate emission reduction and flexibility.

The results show that through the application of the scheduling strategy to the HPWIS, the flexibility index of the Lianhuo Expressway increased by 29.17%, promoting a corresponding decrease in CO₂ emissions.

This paper proposed a new model to capture the evolution of the HESS, which provides highway transportation vehicles and service facilities with a clean electricity supply and achieves energy transfer aided by an energy storage system, thus forming a new model of a transportation energy system with source-grid-load-storage-charge synergy. An evaluation method is proposed to improve the air quality index through the coordination of new energy generation and environmental conditions, and dynamic configuration and dispatch are achieved with the master–slave game model.

The academic experience of top management team (TMT) has a positive impact on firms' innovation performance. However, existing studies predominantly focus on the educational qualifications and institutional prestige of TMT, failing to comprehensively evaluate whether TMT possess genuine academic experience and the role of academic competence. This article aims to examine whether TMT academic competence has a potential influence on firm innovation performance and to understand the mechanisms behind this relationship.

Using firm-level metrics of Chinese listed firms and TMT scholarly publication data spanning 2000–2021, this paper investigates whether TMT academic competence can promote firms' innovation performance and conducts a moderated mediating effect analysis.

(1) Academic competence of TMT can contribute positively to firms’ innovation performance; (2) university–industry collaboration partially mediates this relationship; (3) the mediating effect is enhanced by cognitive proximity and (4) distance proximity does not diminish the mediating effect.

Outcome of this study can assist academia in further understanding the impacts of TMT on firm innovation and aid government in promoting university–industry collaboration. Simultaneously, it can help firms adjust their TMT selection and training strategies to enhance innovation performance.

This article, as the first to construct an index of academic competence and to explore whether it has an impact on firms' innovation performance and its inherent mechanism, can provide a new research perspective for the study of the impact of TMT's characteristics on firms' innovation.

The study focuses on (1) the success of three strategies employed during the pandemic – two “persevering” strategies, curbside pickup and return window extension and one innovative strategy, virtual try-on technology and (2) whether the strategies are likely to be successful in the post-pandemic world.

The authors utilize a panel dataset containing 17 department store chains in the US The panel includes weekly sales by the retailers at the city level from 2018 to 2021, encompassing both a pre-COVID-19 period and a period during the pandemic. A two-way fixed effects model, including retailer-city fixed effects and year-week fixed effects, is used to estimate department store sales.

The authors find that the two persevering strategies offset the negative impact of government-imposed containment and health measures on sales performance. On the other hand, the innovative strategy is more effective with a low level of containment and health measures, leading to our observation that virtual try-on may be more sustainable than the other two strategies in a post-pandemic environment.

This paper makes the following contributions: First, the authors contribute to the literature on strategies that may be used to respond to crises. Second, the authors contribute to the retail management literature, assessing the impact of the three retail strategies on department store sales. Finally, the authors compare the impact on sales of the two persevering strategies to the innovative strategy and conclude that a mix of these types of strategies may be most effective at generating short-term sales during a crisis and longer-term sales post crisis.

Owing to increased energy demands, China has become the world’s top CO2 emitter, with electricity generation accounting for the majority of emissions. Therefore, the Chinese Government aspires to achieve a low-carbon transformation of the electric industry by enhancing its green innovation capacity. However, little attention has been paid to the green development of electric technology. Thus, this paper aims to uncover the spatiotemporal evolution of electric technology in the context of China’s low-carbon transformation through patent analysis.

Using granted green invention patent data for China’s electric industry between 2000 and 2021, this paper conducted an exploratory, spatial autocorrelation and time-varying difference-in-differences (DID) analysis to reveal the landscape of electric technology.

Exploratory analysis shows that the average growth rate of electric technology is 8.1%, with spatial heterogeneity, as there is slower growth in the north and west and faster growth in the south and east. In addition, electric technology shows spatial clustering in local areas. Finally, the time-varying DID analysis provides positive evidence that low-carbon policies improve the green innovation capacity of electric technology.

The different effects of the low-carbon pilot policy (LCPC) on R&D subjects and the LCPC’s effectiveness in enhancing the value of patented technology were not revealed.

This paper reveals the spatiotemporal evolutionary characteristics of electric technology in mainland China. The results can help the Chinese Government clarify how to carry out innovative development in the electric industry as part of the low-carbon transformation and provide a theoretical basis and research direction for newcomers in this field.

Over the past several decades, there has been an increasing trend towards inter-city cooperation, which is an efficient policy option to deal with the challenges from globalization, regionalization and the externalities resulting from urban entrepreneurialism. Specific to China, the city governments, which mainly refer to prefecture-level and county-level governments, have also made many attempts to cooperate with respect to their local economic development and public affairs. Nevertheless, the results of these initiations to cooperate vary to a great extent. Based on a review of regional pollution governance in the Xiaoqing River area, tourism cooperation initiatives at Weishan Lake and transport integration between Jinan and Laiwu. The findings demonstrate that China's idiosyncratic institutional background has a significant impact on the shaping of inter-city cooperation. For the most part, leading small groups (LSGs) and their leadership property tend to determine the effectiveness of inter-city cooperation.

To examine the effect of the LSGs, we categorize them into three types, groups with strong leadership, weak leadership and self-forming leadership. Through reviewing regional pollution governance in the Xiaoqing River area, tourism cooperation initiatives at Weishan Lake and transport integration between Jinan and Laiwu, we try to probe the role of leading groups in the settlement of cross-administrative border issues.

Based on these three cases, the conclusion can be drawn that the leadership type of the LSG can exert an important influence on the efficiency of inter-city cooperation. If there is a leader with a higher administrative rank or authority, the cooperation can be quite efficient. Otherwise, the cooperative ending might be very negative. In terms of the operation principle, we can infer that even though the cities are always self-development oriented, the leader with higher authority or a strong coordinating capacity can convince and persuade the city leaders to overcome their self-centered behavior template and boost the cooperation to March on smoothly. Also, it means that the LSG is constrained by its personalistic characteristic. Key command derives from the person who chairs the LSG other than specific rules and norms. If the lead of the LSG leaves his position, the cooperation might just become paralyzed. From this point of view, the lack of legal basis remains to be the LSGs' significant deficiency and the future reform should attach more importance to the legalization of the LSGs so the operation of LSGs can be more standard and stable.

Many scholars have proposed their own theoretical models to explain the reason some cities successfully and effectively form cooperative relations, while the other cities do not. However, their models do not consider the idiosyncratic context of China or, how and to which extent LSGs can promote cooperation. Therefore, this paper seeks to probe which path in the context of China cities usually follows in the formation of joint efforts, and what role LSGs play in enabling cities to cooperate.

The study examines the relationship between news intensity, media sentiment and market microstructure invariance-implied measures of trading activity and liquidity of Chinese property developer stocks during the 2020–2022 Chinese property sector crisis.

The authors adopt the extension of the news article invariance hypothesis, which is a generalization of the market microstructure invariance conjecture, from January 2020 to January 2022 to test specific quantitative relationships between the arrival rate of public information, trading activity and a nonlinear function of a proxy for the probability of informed trading. Empirical tests are based on a dataset of 22,412 firm-day observations and two count-data models to correct for overdispersion and the excess number of zeros. Seventy-five stocks of Chinese companies from the property development industry (including the China Evergrande Group) were included in the sample.

The authors reject the news article invariance hypothesis but document a positive and significant relationship between the flow of public information and risk liquidity. Additionally, the authors find that the proxy for informed trading activity is positively related to the arrival rates of public information from October 2021 to January 2022.

The findings support the hypothesis that negative (positive) media sentiment induces significant deterioration (insignificant improvement) in stock liquidity. The authors find that an increase in the number of news articles about a company corresponds to a higher liquidity of Chinese property developers' stocks after controlling for media sentiment.