Size Enterprises Research Articles

SME representation in chambers of commerce bodies – a model perspective

Background: The research analyzes the formal representation of micro, small, and medium-sized enterprises (SMEs) in the bodies of chambers of commerce in a model-based approach. Research purpose: Chambers of commerce are managed by their bodies (board, general assembly, etc.). Their composition is most often chosen by members in elections. It should reflect the structure of the associated enterprises – at least in terms of industry and size classes. The division of mandates affects the operational activity of the organization – including the content of positions developed in consultation processes and services provided to entrepreneurs. The aim of the study is to verify whether in the countries selected for analysis (representing different models of functioning of chambers of commerce) there are regulations securing the formal representation of SMEs in the bodies of chambers. And if they do exist, what form do they take? In addition to determining the actual situation, the advisability and possible way of regulating the SME parity in several model scenarios is analyzed. Methods: Using the deductive method and critical analysis, the study analyzes the statutes of chambers of commerce in selected countries and reviews sociological, economic and legal literature. Conclusions: The findings indicate that there are only a few examples of regulations protecting the representation of SMEs in chambers’ bodies. It was also found that the rules for representing different sized enterprises in the bodies and task groups of chambers of commerce are closely linked to the model of these organizations. In the Anglo-Saxon private law model, business owners primarily participate voluntarily in selected organizations. However, in countries with a single chamber per region, free choice of organization does not in fact exist. In the continental public law model, where membership is universal by operation of law, statutes focus primarily on mapping the structure of dominant industries in a region and usually omit other criteria. The sectoral model offers the greatest potential for balancing the representation of every size of industry and enterprise.

An integrative study on the green cultural industry and its determinants in Jiangsu province, China under the cultural revitalization initiative: a global perspective

IntroductionsThe cultural industry is pivotal in promoting sustainable economic development. This study aims to evaluate the economic efficiency of the cultural industry in Jiangsu Province by establishing a Data Envelopment Analysis (DEA) model and analyzing influencing factors using the Tobit model, all within the broader context of China’s cultural industry.MethodsA DEA model was developed to assess the economic efficiency of the cultural industry across Chinese provinces, allowing for a comparative analysis of performance. The Tobit regression model was utilized to investigate factors influencing these efficiency outcomes, with a particular emphasis on inter-provincial comparisons to understand the position and challenges faced by Jiangsu’s cultural industry.ResultsDespite Jiangsu’s cultural industry ranking among the largest in scale nationally, its economic efficiency is only moderate, consistently experiencing diminishing returns to scale. The study identifies low scale efficiency, small enterprise size, and suboptimal urbanization processes within the province as the main issues.DiscussionThe inefficiencies highlighted by the DEA model suggest a misalignment between the scale of operations and the economic outputs in Jiangsu’s cultural industry. Urbanization emerges as a crucial factor, with current practices not sufficiently supporting the growth potential of the cultural sector.ConclusionBased on these findings, the study proposes targeted policy recommendations for Jiangsu, including avoiding blind scale expansion, adjusting industrial structures, encouraging enterprise consolidation and optimization, and identifying new growth areas to better support the cultural industry’s development and contribute to sustainable economic progress.

Does China’s innovation-driven policy affect enterprises’ import performance of intermediate goods?

Based on a theoretical analysis of the impact of the innovative city pilot policy on manufacturing enterprises’ import behavior of intermediate goods, this paper performs a quasi-natural experiment via a multi-period differences-in-differences (DID) model with China’s innovative city pilot policy as the object. This study systematically evaluates the impact of the innovative city pilot policy on importing intermediate goods by local manufacturing enterprises. The empirical results show that implementing the innovative city pilot policy significantly increases the quantity, variety and quality of intermediate goods imported by local manufacturing enterprises. These conclusions remain valid even after a series of robustness tests. Impact mechanism tests indicate that obtaining government subsidies, alleviating financing constraints and reducing institutional transaction costs are three important channels through which the innovative city pilot policy promotes the import of intermediate goods by manufacturing enterprises. Furthermore, additional research reveals that the impact of the innovative city pilot policy on intermediate goods imports exhibits significant heterogeneity in enterprise size, age, ownership and trade mode. This study’s findings provide a new perspective for evaluating and exploring the performance of the innovative city policy and China’s foreign trade transformation and upgrading.

Occupational epidemiological characteristics of noise-induced hearing loss and the impact of combined exposure to noise and dust on workers' hearing-a retrospective study.

The aim of the study was to investigate the occupational epidemiological characteristics of hearing loss among noise-exposed workers through a cross-sectional study and to explore the impact of combined noise and dust exposure on workers' hearing loss through a longitudinal study. This cross-sectional study revealed that the risk of speech-frequency hearing loss increases with age (OR = 1.096, 95%CI = 1.081-1.111). Independent factors influencing high-frequency hearing loss include sex, age, hazardous factors, industry category, and enterprise size. Scientific research and technical services (OR = 1.607, 95%CI = 1.111-2.324), wholesale and retail (OR = 2.144, 95%CI = 1.479-3.107), manufacturing (OR = 1.907, 95%CI = 1.429-2.545), and other industries (OR = 1.583, 95%CI = 1.002-2.502) are risk factors for high-frequency hearing loss, whereas being female (OR = 0.297, 95%CI = 0.236-0.373) is a protective factor against high-frequency hearing loss. Independent factors influencing occupational noise-induced hearing loss include sex, working age, hazardous factors, industry category, smoking, and drinking, with the risk of occupational noise-induced hearing loss increasing with working age (OR = 1.045, 95%CI = 1.031-1.058). Noise and dust work (OR = 1.271, 95%CI = 1.011-1.597), other work (OR = 0.619, 95%CI = 0.479-0.800), manufacturing (OR = 2.085, 95%CI = 1.336-3.254), other industries (OR = 2.063, 95%CI = 1.060-4.012), occasional smokers (OR = 0.863, 95%CI = 0.652-1.142), regular smokers (OR = 1.216, 95% CI = 0.987-1.497), and excessive drinkers (OR = 2.171, 95%CI = 1.476-3.193) are risk factors for occupational noise-induced hearing loss, whereas being female (OR = 0.496, 95%CI = 0.347-0.709) is a protective factor against occupational noise-induced hearing loss. The longitudinal study revealed differences in pure-tone hearing threshold test results at 500 Hz, 1,000 Hz, 3,000 Hz, 4,000 Hz, and 6,000 Hz in both ears before and after enrollment among noise-exposed workers (p < 0.05). Combined noise and dust exposure (OR = 4.660, 95%CI = 1.584-13.711), 1st year (OR = 1.540, 95%CI = 1.128-2.103), 2nd year (OR = 1.994, 95%CI = 1.409-2.821), and 3rd year (OR = 1.628, 95%CI = 1.170-2.264) were risk factors for high-frequency hearing loss. Combined noise and dust exposure is a risk factor for occupational noise-induced hearing loss. Additionally, occupational noise-induced hearing loss is influenced by gender, working age, enterprise industry category, smoking, and drinking. Employers should enhance occupational health management and improve workers' occupational health literacy, with a particular focus on older male workers of long working age, and those with unhealthy habits. Combined exposure to noise and dust may have a synergistic effect on causing high-frequency hearing loss, and comprehensive protective measures should be implemented for workers exposed to both.

Quality management in the context of performance and agility of manufacturing enterprises

The application of quality management methods and tools is an important prerequisite for the success and performance increase of manufacturing enterprises. The paper deals with the application of methods and tools of quality management (MTQM) in manufacturing enterprises. The paper aims to analyze whether there is a relationship between the application of MTQM and the size of enterprises, the use of MTQM, and the performance of enterprises measured through the achieved profit. It also analyzes the impact of MTQM on the agility of manufacturing enterprises measured through the decrease in sales expressed in revenues during the pandemic period. The paper presents the results of the research which was conducted between 2020–2022. Several statistical tools such as the Chi-square goodness-of-fit test, Pearson’s chi-square test, and contingency analysis were used to evaluate the different analyses as well as the representativeness of the sample. Based on the results, it can be concluded that there are differences in the use of MTQM and the size of the enterprise as well as the performance of the enterprises. At the same time, the hypothesis that enterprises using a wider range of quality management methods and tools have a higher potential to adapt to unexpected market changes was also confirmed.

Social and Economic Problems of Agricultural Enterprises: The Case of Bayburt

Agricultural enterprises are enterprises that make significant contributions to the economic, social and cultural development of countries by engaging in agricultural production, agricultural product processing and agricultural marketing activities. It can be said that agricultural enterprises in Türkiye face many problems because they are mostly SMEs. The aim of this study is to examine the social and economic problems of agricultural enterprises based on the Bayburt example. In the study, it was deemed appropriate to use face-to-face interview technique within the scope of qualitative research method. In the interview, a questionnaire containing 32 questions about the social and economic problems of agricultural enterprises was used in addition to questions about participants and agricultural enterprises such as position, sector experience, enterprise size, enterprise title. Data were collected from 27 agricultural enterprises engaged in production, processing and marketing activities in Bayburt province. Content analysis technique was used to analyze the data. The responses of the participants were processed in depth within the scope of the themes determined in accordance with the content analysis technique, and the social and economic problems of agricultural enterprises were identified and solution suggestions were developed. As a result of the analysis, it was determined that agricultural enterprises have various problems related to management, production, marketing, finance and risk management, accounting, human resources, R&amp;D and infrastructure, and suggestions were made within the scope of each theme. In conclusion, it is thought that this study will shed light on all agricultural enterprises operating in the sector and relevant stakeholders by addressing the existing problems, identifying the obstacles and developing recommendations.

Employee training as a tool to achieve goals depending on SME’s type

Employee training is one of the most important areas of human resources management and is key to the career development of employees. The aim is to determine how the sector and size of small and medium enterprises (SMEs) influence the corporate education of employees. Data were collected using a questionnaire distributed among 610 SMEs in the Czech Republic; valid answers were obtained from 581 enterprises. The respondents mainly include managers responsible for employee education or other representatives with relevant experience. This database was tested using statistical methods, including Pearson’s chi-squared test of independence, Kolmogorov-Smirnov normality test, and Kruskal-Wallis test. The results indicate that enterprises with 150-250 employees try to provide them with training that would correspond to the so-called work-life balance. Enterprises with 50-149 employees often have a larger budget and resources to invest in corporate training. The results show that in terms of SME size, employee training is most commonly applied by medium-sized enterprises. It is confirmed that the bigger the enterprise, the more frequently its employees are trained. On the other hand, the sector does not significantly influence employee training. Slightly above-average use of employee training is observed in the transport and logistics sectors, but the difference is not substantial. AcknowledgmentThis paper was supported by the project IVSUPS2303 “Current topics of the social pillar of CSR related to acquiring and developing human resources.”

The influence of occupational noise exposure on blood pressure and hearing loss among female workers of childbearing age

ObjectivesWomen exposed to occupational noise experience adverse pregnancy outcomes. Therefore, we initiated a large, population-based, cross-sectional study to further investigate the effects of occupational noise on hearing and blood pressure among female workers of childbearing age.Study design and settingA total of 6981 childbearing-aged female workers were selected for this cross-sectional study. Basic characteristics of participants were analyzed by comparing the exposed and control groups. Logistic regression models were employed to calculate the odds ratios (ORs) and 95% confidences intervals (CIs) for the associations of occupational noise with levels of hearing loss and blood pressure. The associations were further explored through stratification by age and duration of noise exposure.ResultsCompared with participants not exposed to occupational noise, increasing years of occupational noise exposure were independently associated with an elevated risk of hypertension after adjustment of age, industry classification, enterprise size and economic type. Compared to participants not exposed to occupational noise, only the prevalence of bilateral hearing loss was significantly higher after adjustments for age, industry classification, enterprise size and economic type. Compared with those with normal hearing, the ORs and 95% CIs were 1.97 (0.95–4.07), 2.22 (1.05–4.68) and 1.29 (1.06–1.57) for bilateral, unilateral and any ear hearing loss, respectively.ConclusionsOccupational noise exposure is positively associated with both hypertension and bilateral hearing loss among female workers of childbearing age. Those exposed to occupational noise show an increased risk of hypertension after adjusting for potential confounders.

Intellectual property protection and total factor productivity of enterprises: A quasi-natural experiment of intellectual property courts

This study reveals that the establishment of intellectual property courts can significantly improve the TFP of enterprises. After a series of robustness tests, the conclusion is still valid. Mechanistic research finds that the establishment of intellectual property courts can promote TFP of enterprises by strengthening regional law enforcement, improving the quality of enterprise innovation, and enhancing the regional business environment. Intellectual property rights protection has heterogeneous effects on different ownership types, enterprise sizes, and product competitive position. Intellectual property protection is highly important for improving the total factor productivity of enterprises and achieving high-quality economic development.

Information technologies in agriculture of Northern Kazakhstan: advantages, reserves

Ensuring sustainable development of the agrarian sector of the economy requires the integrated use of digitalization technologies. The aim is to show the current trends in the application of information technologies in agriculture in Northern Kazakhstan and to determine the conditions necessary for the introduction of modern digital infrastructure. Methods - system-structural, economicstatistical, comparative analysis, mathematical and system-functional approaches to the study of the use of information and communication technologies by agribusiness of agricultural profile. Results - the authors analyzed the scope of application of digital processes in the region. The factors influencing the use of modern digital technologies in the cultivation of agricultural land have been outlined. The dependence of the application of precision farming elements on the farm size is revealed. The calculation of economic efficiency of reference and information systems of production management is presented. Measures to overcome obstacles and mitigate the limitations of digital transformation in agriculture in the northern territories of the republic are proposed. Conclusions - based on the study it is noted that the spread of digital innovations is from 18 to 55% of the total sown area. When comparing the average land size of economic entities that implement information technologies with other farms, it was found that digital solutions in crop production are primarily available to large and medium-sized agroformations that have the financial capacity and qualified specialists for digitalization. The survey of respondents allowed us to express an opinion on the influence of the size, technical equipment and economic stability of an agro-industrial enterprise on the use of modern farming systems, as well as the level of awareness of agro-entrepreneurs about new technologies. The use of digital platforms in the crop production industry is a key element that contributes to increasing the economic efficiency of the agro-industrial complex.

Will Network Infrastructure Optimization Make Manufacturing Enterprises "Out of Real to Virtual"? --- A Quasi-Natural Experiment from the "Broadband China" Policy

Manufacturing is the most important component of the real economy, and the application of modern network information technology can effectively improve the operational efficiency of manufacturing enterprises. In the context of "Made in China 2025", it is particularly important to prevent manufacturing enterprises from deviating from their main business and becoming excessively financialized. Maintaining the essential business activities of manufacturing enterprises is of great importance to China's economic development. Based on the operating data of all A-share listed manufacturing companies from 2010 to 2020 and combining the "Broadband China" demonstration city policy, this paper uses a multi-point double-differenced model to explore the relationship between network infrastructure optimization and excessive financialization of manufacturing enterprises. The research shows that: 1) Network infrastructure optimization will make manufacturing enterprises increase their financialization level, and this effect is mainly manifested through optimizing accounts receivable management. 2) From the perspective of enterprise size, compared with small and medium-sized manufacturing enterprises, large manufacturing enterprises are more likely to improve their financialization level through network infrastructure optimization. 3) From the perspective of the degree of diversified operations, manufacturing enterprises with high diversified operations are more likely to take advantage of network infrastructure to improve their financialization level. This study provides reference and guidance for later researchers on the impact of "new infrastructure" represented by network infrastructure construction on the business model of manufacturing enterprises.

Competition policy and enterprise competitiveness: Catalyst or barrier?

As a seminal institutional innovation within the framework of Chinese-style modern competition theory, the question of whether the Fair Competition Review System (FCRS) can harness policy dividends and bolster enterprise competitiveness stands as a pivotal concern for accelerating the emergence of new productive forces and fostering a harmonious integration of an "effective government + efficient market." Leveraging data from China's listed manufacturing enterprises spanning the period from 2010 to 2020, this paper undertakes an empirical examination of the impact of competition policy frameworks on the competitiveness of manufacturing enterprises. The FCRS is treated as a quasi-natural experiment, and a difference-in-differences (DID) methodology is employed for analysis.The findings of this paper are as follows: (1) The implementation of the FCRS has been found to effectively augment the competitiveness of manufacturing enterprises by approximately 1.97 %, and this fundamental conclusion retains its validity after a battery of robustness tests; (2) The FCRS primarily influences enterprise competitiveness by lowering financing costs, enhancing technological innovation, and mitigating over-investment; (3) Heterogeneity analysis reveals that non-high-tech enterprises and those with lower financing constraints can attain more pronounced effects in promoting enterprise competitiveness through competition policies. Additionally, enterprise size and operational risks also exert an influence on the efficacy of competition policies in enhancing competitiveness; (4) Expanded analysis indicates that competition policies optimize the capital structure of enterprises through "debt reduction" and "capacity enhancement," thereby exploring the viability of analyzing the macro factors that impact enterprise "deleveraging" from the lens of competition policies. The research conclusions presented in this paper carry substantial guiding significance for the government in clarifying the preeminent role of market allocation of resources, promoting the establishment of a unified national market, and orchestrating a coherent fair competition system.

Research on Energy-Saving Efficiency and Influencing Factors of Green and Low-Carbon Enterprises Based on Three-Stage DEA and Tobit Models

Implementing the “dual-carbon” objective has profoundly affected China’s businesses, prompting a continuous process of transformation and innovation. Green, low-carbon transformation, upgrading, and sustainable development have emerged as the means to achieve high-quality company growth, with firms playing a crucial role in achieving the “dual-carbon” target. By prioritizing firms’ green, low-carbon, and sustainable growth, not only can their economic efficiency be improved, but it also serves as a vital measure to advance high-quality development. To achieve this objective, it is crucial to analyze the elements that impact the energy-saving effectiveness of businesses to develop optimization tactics that can enhance their competitiveness. This study combines the three-stage Data Envelopment Analysis (DEA) and the Tobit model to assess the energy-saving efficiency of green and low-carbon firms from 2018 to 2022. The analysis focuses on selected samples from various areas and industries. The study investigates the relationship between energy-saving effectiveness and different regional and industrial parameters, considering the distinct attributes of each firm and the key elements that influence its energy-saving performance. The findings indicate that green, low-carbon firms typically demonstrate suboptimal energy-saving efficiency but have considerable room for improvement. Upon considering environmental concerns, it becomes clear that the primary limitation on energy-saving performance is the lower efficiency of the enterprise scale. The energy-saving efficiency of green, low-carbon firms varies significantly across different regions and industries. On average, northern firms in the energy-saving and carbon reduction industry, as well as the resource recycling industry, have higher energy-saving efficiency compared to southern enterprises. In contrast, the environmental protection industry in southern firms demonstrates a better average energy-saving efficiency compared to their northern counterparts. Employee quality, policy support, and automation are key factors that greatly enhance the energy-saving efficiency of firms in both regions. Enterprise size has a beneficial impact on the energy-saving efficiency of southern firms but a negative impact on northern enterprises. Moreover, the industry and financial structures exert a detrimental influence on enhancing the energy-saving efficiency of green and low-carbon firms. Thus, in order to improve the energy-saving effectiveness of businesses, it is essential to utilize the elements that have a positive influence on energy-saving performance and reduce the impact of those that have negative impacts. This strategy will enhance the energy-saving efficiency of businesses and promote the development of an environmentally friendly and low-carbon society.

The Empirical Examination of the Effect of Environmental, Social, and Governance (ESG) Performance on Enterprise Value: Focusing on Real Estate Agencies

In the 21st century, modern production techniques and technological advancements have yielded remarkable development achievements, yet they are accompanied by challenges posed by energy and resource scarcity, ecological and environmental strain, and pressing social issues. Recently, the spotlight has shifted to environmental, social, and governance (ESG) factors, as negative social events have heightened public awareness. The impact of corporate ESG performance on society is significant, and the public's perception can, in turn, affect corporate profitability and overall value. As such, investors are increasingly realizing the importance of considering ESG metrics in their decisions. While ESG investment is still in its nascent stage domestically, it has garnered widespread attention and is rapidly gaining momentum. Indices and related derivative products themed around ESG, such as the ESG Beauty 50 index, have been launched on domestic exchanges like the Shanghai Stock Exchange and China Securities Index. Taking the real estate industry as a case study, this paper aims to accomplish the following through a combination of literature research and empirical analysis: Firstly, to assess whether ESG performance varies across companies with diverse characteristics (such as state-ownership status, enterprise size, and so forth) and explore its differential impact on enterprise value. Secondly, to raise awareness among company managers regarding the critical role of ESG performance in shaping the future sustainability and long-term value of their organizations.

Factors affecting the application of strategic management accounting in Vietnamese enterprises

This study aims to provide more in-depth information on the factors influencing the application of strategic management accounting in Vietnamese enterprises. The study uses questionnaire surveys to collect primary data to test the hypotheses in the proposed research model about factors affecting the application of strategic management accounting in Vietnamese enterprises. The survey was conducted using a non-probability sampling method with 64 enterprises; 225 valid survey forms were collected using SPSS 25.0. The analysis includes variable descriptive statistics, scale reliability testing, exploratory factor analysis, multivariate regression analysis, and evaluation of regression assumptions. We used a multivariate regression method to analyze the data. The results confirm the acceptance of the hypotheses, demonstrating a significant influence of the model’s factors on the applications of strategic management accounting. Enterprise size, competition levels, business strategy development, decentralization, technology level, and accounting participation positively impact the application of strategic management accounting in enterprises. In particular, the level of competition is the most vital factor motivating Vietnamese businesses to apply strategic management accounting. The results are empirical evidence to help managers better understand the practice of applying management strategic accounting to make reasonable decisions to practice strategic management accounting and have effective performance. Furthermore, this study suggests more profound research directions aimed at promoting the application of strategic management accounting in Vietnamese enterprises.

An Efficiency Evaluation and Driving Effect Analysis of the Green Transformation of the Thermal Power Industrial Chain: Evidence Based on Impacts and Challenges in China

The high carbon emissions and pollution of China’s thermal power industry chain have exacerbated environmental and climate degradation. Therefore, accelerating the green transformation process is of great significance in promoting the sustainable development of enterprises. This study selected 30 listed thermal power enterprises in China as research objects, analyzed their data from 2018 to 2022, set targeted input–output indicators for different stages, and used a two-stage dynamic data envelopment analysis (DEA) model to evaluate and measure the efficiency of the green transformation of Chinese thermal power enterprises. In addition, this study also uses the logarithmic mean Divisia index (LMDI) method to analyze the driving effects of green transformation. The results indicate that in terms of overall efficiency, there is a significant difference in the overall performance of these 30 thermal power enterprises, with a large difference in average efficiency values. Efficiency values are related to enterprise size. In terms of stage efficiency, the average efficiency value of thermal power enterprises in the profit stage was significantly higher than that in the transformation stage, and the profitability of Chinese thermal power enterprises was better. In terms of sub-indicator efficiency, the efficiency of each indicator shows a “U”-shaped trend, and there is a certain correlation between the operating costs and revenue of thermal power enterprises, the market value of green transformation, and related indicators. In addition, the most important factor affecting the efficiency of green transformation is the sewage cost they face, whereas their operational capabilities have the least impact on their green transformation. In this regard, thermal power enterprises should increase their investment in the research and development of key technologies for thermal power transformation and continuously optimize their energy structure. The government will increase financial support for thermal power green transformation enterprises and correspondingly increase emission costs.

The technological revolution’s impact on business management

The rapid advancement of technology in the era of the fourth industrial revolution has significantly transformed organizational management practices. This study examines the influence of technological progress on organizational management, specifically analyzing the effects of data analysis and digital management methods in response to these changes. The main objective is to determine how these technological advancements impact enterprises of various sizes in the Czech Republic. The research employed comparative and analytical approaches, utilizing survey data collected from numerous organizations. Concrete methods used in the study include a comprehensive questionnaire survey, comparative analysis, and statistical correlation analysis to assess the significance of technologies based on the classification of enterprise size. The findings demonstrate substantial disparities in the implementation and advantages of technology contingent upon the magnitude of the organization, with smaller and larger enterprises exhibiting enhanced flexibility and deliberate assimilation of novel technologies. The main conclusion is that proficient administration of technology results in competitive advantages and operational efficiencies. Companies are advised to customize their technology strategies based on their available resources and market requirements. Further analysis explores the connections between investments in technology and other organizational elements such as financial resources and personnel, highlighting the importance of developing coherent plans that successfully incorporate technology into the overall structure of the organization.

Digital Finance, Research and Development Investment, and Corporate Green Technology Innovation

The development of digital finance is anticipated to alleviate the dilemma of corporate green technology innovation. This study selects manufacturing enterprises that are publicly listed on the Shanghai and Shenzhen stock exchanges as well as the Growth Enterprise Market in China, as research samples, of which the data spans from 2011 to 2020. An empirical research using a matched dataset of this period demonstrates that the growth of digital finance has a significantly positive impact on the promotion of green technology innovation in Chinese manufacturing companies. This result remains valid even after conducting rigorous testing to ensure its reliability and taking into account the potential influence of endogeneity. Moreover, this promoting effect exhibits heterogeneity due to differences in enterprise size and property rights. In the future, governments, financial institutions, and enterprises should collaborate to promote the improvement of digital finance infrastructure, bolster policies and financial support for enterprise green technology research and development (R&amp;D) investment, and effectively foster the improvement of corporate green technology innovation capabilities.

Do Enterprises That Publish Sustainability Reports Have a Better Developed Environmental Responsibility and Are They More Transparent?

Enterprises increasingly publish sustainability reports to address concerns about their environmental and social impact. However, the voluntary nature of these reports and the lack of independent auditing often lead to skepticism regarding their authenticity, with some perceiving them as mere marketing or greenwashing tools. This study aims to investigate whether the publishing of sustainability reports truly reflects transparency and responsible behavior. The relationship between the publishing of sustainability reports, environmental responsibility policies, and transparency policies is analyzed. The research was conducted in Uruguay. A quantitative methodology was used. The sample was made up of a group of companies that evaluate their social and environmental responsibility practices. This is a non-probabilistic sample, which includes companies that publish sustainability reports and companies that do not publish them. The environmental responsibility and transparency of both groups were compared. Thirteen indicators were used to measure environmental responsibility, and eight indicators were used to measure transparency. To evaluate the relationship between the variables, different statistical techniques were used: chi-square, difference of means test, and simple correlations. Our findings reveal that: (1) enterprises publishing sustainability reports tend to have more developed environmental responsibility policies and greater transparency compared to those that do not publish, and (2) interestingly, the choice of reporting standards, particularly the Global Reporting Initiative, does not significantly impact the observed outcomes. Furthermore, the relationship among report publication, environmental responsibility, and transparency is influenced by enterprise size but remains unaffected by public trading status or capital origin (local or international). Despite its methodological limitations, this work contributes to the debate on the sincerity of companies that publish sustainability reports. Its results contribute to reducing the skepticism and distrust that exists about these reports. Also, the work contributes to the study of the relationship between environmental responsibility and the publishing of reports because it included segments of companies that are not considered in most research: medium-sized companies and private companies that are not listed on the stock market.

Impact of National Centralized Drug Procurement policy on chemical pharmaceutical enterprises' R&D investment: a difference-in-differences analysis in China.

This study aimed to evaluate the impact of the National Centralized Drug Procurement (NCDP) policy on chemical pharmaceutical enterprises' R&D investment and provide references for improving NCDP policy design and encouraging innovation in the pharmaceutical industry. Using the panel data of 102 Shanghai and Shenzhen A-share listed enterprises from 2016 to 2022 under the chemical pharmaceutical classification of Shenwan in Wind database as the research sample, this study developed difference-in-differences (DID) models on bid-winning and bid-non-winning enterprises, respectively, to evaluate the impact of NCDP policy on their R&D investment. In addition, this study tested the heterogeneity of bid-winning enterprises based on the bid success rate, the decline of drug price, and enterprise size. The NCDP policy could encourage chemical pharmaceutical companies to increase R&D investment, but the low bid success rate and excessive drug price reduction would reduce their R&D enthusiasm, especially for small- and medium-sized enterprises. It is suggested that the NCDP policy should be further improved: first, revise the bidding rule of the NCDP policy and increase the bid success rate so that more enterprises can win bids, and second, to solve the problem of excessive drug price reduction, evaluate the rationality of bid-winning prices, and introduce a two-way selection mechanism between medical institutions and supply enterprises. Integrate pharmacoeconomic evaluation into the NCDP rules to form a benign competition among enterprises. Third, attention should be paid to supporting policies for small- and medium-sized enterprises. By increasing procurement volume, shortening payment time limits, and increasing the proportion of advance payments, enterprises' cash flow shortages can be alleviated, thus achieving fairness and inclusiveness in the implementation of the NCDP policy.