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The purpose of this paper is to construct an index for systemic risk in China.

This paper develops a systemic risk index for China (SRIC) using textual information from 26 leading newspapers in China. Our index measures the systematic risk from 21 topics relating to China’s economy and provides narratives of the sources of systemic risk.

SRIC effectively predicts changes in GDP, aggregate financing to the real economy and the purchasing managers’ index. Moreover, SRIC explains several other commonly used macroeconomic indicators. Our risk measure provides a helpful monitoring tool for policymakers to manage systemic risk.

The paper construct an index of systemic risk based on the information extracted from newspaper articles. This approach is new to the literature.

This paper aims to answer three questions: (1) Which countries invest more capital in green firms? (2) What kind of industries do venture capitals (VCs) invest in? (3) Do VCs invest more capital in green firms?

First, the authors provide summary statistics of the key variables for green and non-green firms. Then the authors use figures to plot the growth of green firms over time. Next, the authors use descriptive data to study VC-invested firms for the top 10 countries and industries for all firms, green firms and non-green firms. Finally, the authors compare the VC investors' characteristics and investment behavior between green and non-green firms.

This study documents that venture-backed investments in clean technologies have increased dramatically in the number of deals and in the total amount of dollar volume over time. This paper provides evidence that VC firms invest more in green firms in each deal than in non-green firms. The United States and European countries play an important role in funding clean technologies across countries, and this study’s results suggest that VC investors play a considerable role in shaping the development of green finance.

This paper makes the first attempt to investigate the role of VCs in clean technologies to support carbon neutrality, providing initial evidence on venture capitalists' investment efforts towards carbon neutrality. The paper also has practical implications for start-up firms that raise capital and venture capitalists who finance green start-ups.

Historically, investments in innovation are perceived as one of the paramount decisions businesses opt to thrive and the impact of such investments on businesses' market performance is well documented in the literature. However, the environmental aspects of making such investments are yet to be addressed by the firms, which in turn, present considerable damage to the environment. Coupling with the natural resource-based view (NRBV) and the stakeholder theory of the firm, this research builds on an earlier work of Khalil and Nimmanunta (2021) in an attempt to examine the link between innovation and firms' environmental and financial value. The authors extend their analysis and document a more consistent approach to measuring environmental innovation which allows the authors to investigate the firms from three additional economies with respect to firms' investments in both traditional and environmental innovations.

The underlying models are tested using the time fixed-effects panel regression by utilizing information from publicly traded companies of ten Asian economies, including Japan, Hong Kong, Taiwan, Thailand, Turkey, Malaysia, Singapore, India, Indonesia, and Saudi Arabia. The reported sample covers annual firm-level ESG data obtained from Thomson Reuters' Datastream and Refinitiv Eikon during the 2015–2019 period.

This research offers support to the conventional wisdom that innovation is advantageous to the firms' market value. The authors further decompose innovation into traditional innovation and environmental innovation. The findings of this research suggest that traditional innovation is favorable only for the firms' market valuation and traditional innovation is strongly ineffectual for the environment – traditional innovation produces sizeable environmental distress by contributing substantially to carbon emissions. In contrast, the resultant effects of investments in environmental innovation are evident to be instrumental for both firms' financial performance and the environment.

This research has primarily focused on only two components of a company's environmental performance: reduction in carbon emissions (CO2) and corporate social responsibility (CSR). Given the complexity of firms' environmental strategies and the multidimensionality of the variable, which encompasses a wide range of corporate behavior in terms of relationships with communities, suppliers, consumers, and broader environmental responsibilities broadening the scope of the study by including other important aspects of environmental sustainability is, therefore, critical.

The findings of this research signify environmental innovation as one of the vital investment approaches as firms can exploit benefits related to the market from firms' sustainable practices, developing eco-friendly processes by introducing steady yet systematic chains of green products and services. Such products and services may have a feature of enhanced functionality with a better layout in terms of improved product life with better recycling options, and lower consumption and exploitation of energy and natural resources. These sustainable practices would be advantageous for the firms regarding the possibility of setting prices above the standard level through establishing green brands and gaining market share of environmentally anxious consumers. For those companies that are striving to take the leading role in the green industry and longing to seek superior returns on the companies' environmental investments, these benefits, in particular, are exceptionally critical to them.

The linkage between firms' financial and environmental performance in the context of simultaneous inclusion of both green and traditional innovations remains unclear and is yet to be investigated by researchers. Thus, this research shed light on the role of environmental innovation and traditional innovation on firms' environmental performance and financial performance. The authors utilize a novel dataset with a clear indication of measuring different elements of innovation that allows us to develop a more robust approach to corporates' environmental, social and governance (ESG) performance metrics having the slightest biases related to transparency and firm size.

This paper aims to characterize the surface film formed on Alloys 800 and 690 in chloride and thiosulfate-containing solution at 300°C.

Alloy 800 and 690 were immersed in chloride and thiosulfate-containing solution at 300°C up to five days, and then the surface film was analyzed by scanning electron microscopy (SEM), X-ray photoelectron spectroscopy (XPS), transmission electron microscopy (TEM) and energy dispersive X-ray spectrometers (EDX).

Through static immersion experiments in a high-temperature and high-pressure water environment, the alloy samples covered by surface film after five days of immersion were obtained. The morphology of the surface film was characterized at both horizontal and cross-sectional scales using SEM and focused ion beam-TEM techniques. It was observed that due to the influence of the quartz lining, the surface film primarily exhibited a bilayered structure. The first layer contained a significant amount of SiO₂, with a higher content of metal hydroxides compared to metal oxides. The second layer was predominantly composed of Fe, Ni and Cr, with a higher content of metal oxides compared to metal hydroxides.

The results showed that the materials of the lining of the autoclave could significantly influence the film composition of the tested material, which should be paid attention when analyzing the corrosion mechanism at high temperature.

This study aims to improve the complexity of chaotic systems and the security accuracy of information encrypted transmission. Applying five-dimensional memristive Hopfield neural network (5D-HNN) to secure communication will greatly improve the confidentiality of signal transmission and greatly enhance the anticracking ability of the system.

Chaos masking: Chaos masking is the process of superimposing a message signal directly into a chaotic signal and masking the signal using the randomness of the chaotic output. Synchronous coupling: The coupled synchronization method first replicates the drive system to get the response system, and then adds the appropriate coupling term between the drive The synchronization error and the coupling term of the system will eventually converge to zero with time. The synchronization error and coupling term of the system will eventually converge to zero over time.

A 5D memristive neural network is obtained based on the original four-dimensional memristive neural network through the feedback control method. The system has five equations and contains infinite balance points. Compared with other systems, the 5D-HNN has rich dynamic behaviors, and the most unique feature is that it has multistable characteristics. First, its dissipation property, equilibrium point stability, bifurcation graph and Lyapunov exponent spectrum are analyzed to verify its chaotic state, and the system characteristics are more complex. Different dynamic characteristics can be obtained by adjusting the parameter k.

A new 5D memristive HNN is proposed and used in the secure communication

Shanghai ANE Logistics Co., Ltd., established on June 1, 2010, is a business of road part-load logistics for goods from 5 to 300 kilograms. Mr. Wang Yongjun and his management team have spent five consecutive years building ANE into the biggest part-load franchising network in China, and set up a brand new business model, through integration of traditional transport lines, part-load express network and information technology platform.