Utilizing virtual arts in reforming market players’ behavior to invest in sustainability projects

Abstract

This study investigates the influence of the expansion of the virtual arts market on private sustainable investment in China spanning the years 1985 to 2021, employing the autoregressive distributed lag model. The results indicate that a 1% rise in the virtual arts market correlates with a short-term surge of around 0.46% in private sustainable investment, with a lasting increase of 0.38%. Furthermore, factors such as social inclusion, privatization, economic size, financial development, and renewable deployment significantly shape private sustainable investment patterns. Noteworthy policy recommendations arising from these findings include the integration of sustainability topics into educational curricula, the establishment of online platforms dedicated to sustainable virtual arts, the cultivation of green financing markets, and the promotion of collaborations among virtual arts institutions with a specific emphasis on sustainability.