Heterogeneous Enterprise Research Articles

Air pollution mitigation and CO2 emission reduction effects of heterogeneous enterprises synergistic agglomeration

Air pollution mitigation and CO2 emission reduction effects of heterogeneous enterprises synergistic agglomeration

Sustainability and Industry 4.0 in the packaging and printing industry: a diagnostic survey in Poland

Abstract Industry 4.0 (I4.0) became an important paradigm to bridge the gap between technologies and humans. The paper aims to diagnose sustainability performance and I4.0 maturity in Poland’s printing and packaging sector and identify research areas where further actions for improvements are necessary. This article adopts a mixed-method study combining in-depth interviews of eleven heterogeneous enterprises, supported with a quantitative survey on a representative sample of 301 companies. The findings revealed an insignificant correlation from a statistical point of view (0.44) between the adopted I4.0 technologies currently used and sustainable best practices. Internet of Things technologies are more often adopted in the printing industry (27.2 %) than in the packaging industry (14 %). The study concludes that using I4.0 technologies boosts the execution of sustainable practices and/or realising sustainable development practices requires I4.0 technology adoption. The paper clarifies that more in-depth analyses are needed to help achieve sustainable objectives for printing and packaging companies through digital technologies. The methodology is replicable and might be applied in other economies across separate multinational enterprises to influence sustainable digitalised business strategy.

Modeling of processes of nonlinear dynamics of development of multi-component production enterprises

The published article proposes new economic and mathematical models of the dynamics of development of enterprises formed by several different industries. Each individual component of the enterprise is provided with separate resources and carries out its own production. The resources of each component of the enterprise expended in the production process are restored through the introduction of domestic investments. The developed models of multi-component enterprises are presented in the form of systems of coupled differential equations regarding production factors. Stationary solutions of these systems of equations correspond to the equilibrium states of operation of enterprises and represent. To calculate the limiting values of production factors, which are stationary solutions of systems of differential equations, corresponding systems of finite equations are obtained that describe the equilibrium state of enterprise operation. It is shown that the most efficient operation of the heterogeneous enterprises under consideration will be achieved only when the limiting values of production factors coincide with the values of the resources used, which correspond to the maximum profit values of each production component. This coincidence is achieved by a certain set of coefficients for the accumulation rates of domestic investment, for the calculation of which special formulas are obtained in the article. For a two-component manufacturing enterprise, models for calculating output, costs and profits were built for each component and for the entire enterprise. Numerical solutions of the corresponding system of differential equations are presented, on the basis of which integral curves for production factors, outputs and profits are constructed for each component of the enterprise and for the entire enterprise as a whole.

Does financing constraints inhibit high-quality development of enterprises? From the perspective of the transmission mechanism of technological progress

ABSTRACT The higher the financing constraints (FC), the more unfavourable to the high-quality development of enterprises (HDE). Is this really the case? Through the data of listed companies, this paper finds that: (1) FC do not necessarily inhibit HDE, which is mainly manifested in the asymmetric inverted U-shaped relationship. (2) The initial FC are conducive to HDE by promoting R&D expenditure, and the later FC are unfavourable to HDE by inhibiting R&D expenditure. (3) The R&D expenditure of heterogeneous enterprises has mediating effects in varying degrees, and the role of R&D expenditure in promoting the high-quality development of non-state-owned enterprises (Non-SOE) is higher than that of state-owned enterprises (SOE), the impact on enterprises of different sizes is basically the same, and the role in promoting eastern and central enterprises is slightly higher than that of western enterprises. (4) The phased characteristics of the mediating role of technological progress (TP) under different measurement standards are quite opposite. The initial FC promotes HDE by reducing the R&D intensity, and the later FC are not conducive to HDE by improving the R&D intensity.

Overcoming the “diversification trap”:firm investment decisions and innovation under policy uncertainty

Existing research generally regards economic policy uncertainty (EPU) as a type of macro-shock and fails to distinguish the perception of policy uncertainty among different enterprises. We use a text mining tool to extract a measure of the EPU perceived by individual firms listed on Chinese stock markets from their annual reports between 2007 and 2020 to investigate the policy uncertainty's impact on enterprises' cross-regional investment and innovation. Our findings reveal the following. First, increased policy uncertainty will inhibit innovation in enterprises. Second, policy uncertainty reduces cross-regional investment, and the influence is time-dynamic and different under the heterogeneous enterprise characteristics. Third, the negative impact of policy uncertainty on cross-regional investment by enterprises is primarily reflected in investments unrelated to the enterprise's technology. Policy uncertainty will promote investment in technology-related areas. Finally, the impact of policy uncertainty and an increase in technology-related cross-regional investment will help (1) lower financing costs via the signal effect, (2) broaden knowledge, and (3) strengthen enterprise resilience and thus promote innovation.

The Influence and Mechanism Analysis of Environmental Regulation on Green Technology Innovation of Enterprises

By collecting the micro data of China's A-share listed enterprises, this paper studies the impact of environmental regulation on the green technology innovation of heterogeneous enterprises based on the perspective of "Porter hypothesis". It is found that environmental regulation can effectively promote the green technology innovation level of enterprises. And the conclusion remains robust after controlling for endogeneity, replacing the explained variables, and changing the time series. In the heterogeneity analysis, due to the differences in enterprise strength and social responsibility between state-owned enterprises and non-state-owned enterprises, environmental regulation has different effects on the green technology innovation effect of enterprises with different features. Due to the good economic foundation and resource endowment in the eastern region and the western region, the environmental regulation has a more obvious effect on the green technology innovation of enterprises in this region. The central region does not have these advantages, the effect is not significant. In the mechanism analysis, the cost mechanism and the compensation of innovation mechanism proposed by the theoretical analysis are verified.

Can business managerial capacity improve green innovation in different industries? Evidence from Chinese listed companies

AbstractAs the backbone of the national innovation system, enterprises are the key drivers of economic development and environmental sustainability. However, at the microlevel, research in this area is lacking, as attention is paid on the comprehensive capabilities of top managers, industrial heterogeneity, and heterogeneous green innovation (GI), including inventive innovation and utility innovation. Based on Upper Echelons Theory, this paper constructs a research framework to explore and empirically analyze the specific impact of managerial capacity (MA) of top managers, as “gatekeepers” of enterprise decision‐making, on the heterogeneous enterprise GI, as well as its potential mechanism. Our results shows that (1), overall, MA can significantly promote GI of enterprises. Interestingly, compared with green strategic innovation, managerial capacity has a greater effect on green inventive innovation; (2) based on industrial heterogeneity, in heavy‐polluting industries, managerial capacity is more likely to promote green strategic innovation rather than green inventive innovation; (3) further analysis shows that enterprise value, internal control quality, and financing constraints are important mechanisms; and (4) the moderating effect of external environment shows that to some extent either the regional marketization level or management capabilities can drive GI. This paper has practical implications for policymakers and corporate managers adopting the management heterogeneity perspective and suggests areas for future studies in this field to promote green low‐carbon transition.

Based on the integration of multimedia e-commerce environment in the enterprise management innovation technology applications

Abstract This paper first applies Multi-Agents’ distributed data management model to establish an enterprise economic data mining platform, combined with a clustering algorithm to extract valuable economic data from a multi-source heterogeneous enterprise database. The weights of indicators are solved by particle cluster algorithm, and the linkage vector distance and set-pair analysis of linkage degree are introduced to construct the innovative technology of enterprise economics and management under the integrated multimedia e-commerce environment. The study shows that the enterprise macro optimal economic index weight of this paper’s method is 0.812, and the production qualification rate of the enterprise is as high as 98.8%, which indicates that this paper’s method can meet the innovation of the enterprise development, and realize the enterprise business management and development strategy is of great significance.

Network infrastructure construction and heterogeneous enterprise innovation quasi-natural experiment based on “Broadband China”

Based on the technology choice model proposed by Bustos (2011) and the infrastructure spillover model developed by Dugga (1999), this paper aims to explore the multifaceted effects of network infrastructure construction on both radical and incremental enterprise innovation, while considering the micro perspective of enterprise and industry heterogeneity. The findings of this study uncover the following significant insights: (1) The implementation of network infrastructure construction exerts a substantial positive impact on both radical and incremental innovation within enterprises, affirming its crucial role in fostering innovation capabilities; (2) In the context of firm heterogeneity, the impact of network infrastructure construction on fostering radical and incremental innovation is particularly pronounced among medium-sized and large-scale enterprises, as well as state-owned enterprises; (3) Network infrastructure construction stimulates radical innovation primarily among local enterprises, whereas export-oriented enterprises tend to benefit more from incremental innovation; (4) When considering industry heterogeneity, the analysis demonstrates that network infrastructure construction fosters radical innovation in industries characterized by high concentration, intense competition, and advanced technology. On the other hand, in industries with low concentration and limited competition, network infrastructure construction tends to facilitate incremental innovation within enterprises. (5) Moreover, the study finds that the impact of network infrastructure construction on enterprise innovation is mediated by talent structure and financing constraints. These factors serve as crucial conduits through which network infrastructure construction facilitates both radical and incremental innovation. Furthermore, the paper acknowledges that the digital transformation of enterprises partially regulates these channels. Overall, this research offers valuable insights for enterprises in developing countries aiming to strengthen various forms of innovation in the digital era.

CEO stability and enterprise total factor productivity from the perspective of dual carbon: a mechanism test based on green innovation

PurposeThrough this study, the aim is to provide reference for the improvement of CEO related theories, the reform of internal governance mechanisms and compensation systems in enterprises, and ultimately contribute to economic and social development and the achievement of dual carbon goals.Design/methodology/approachIn the context of accelerating the implementation of the “dual carbon” goal and promoting sustainable economic and social development, this paper builds a panel data model based on the panel data of 31 provinces in China from 2011 to 2019 to empirically test the impact of CEO stability on green innovation and total factor productivity of enterprises.FindingsThe results show that CEO stability has a positive role in promoting enterprise total factor productivity and green innovation and enterprise green innovation also has a positive role in promoting total factor productivity; Heterogeneity testing found that CEO stability has no significant impact on green innovation in state-owned enterprises. Corporate green innovation has a partial mesomeric effect between CEO stability and total factor productivity; The proportion of independent directors has a negative moderating effect on CEO stability and corporate green innovation, while equity incentive has a positive moderating effect on the relationship between CEO stability, corporate total factor productivity and green innovation.Originality/valueFirst, it develops the research on CEO stability and its economic consequences. Second, it expands the impact of CEO stability on heterogeneous enterprises. Third, provides new ideas for the reform of internal governance mechanism and salary system of enterprises.

Incentive or constraint? Comprehensive impacts of green credit policy on industrial energy intensity.

Green credit policy (GCP) has dual attributes of being both an "environmental regulation" and a "financial instrument". Understanding its role in facilitating industrial green transformation is crucial. However, there is limited theoretical and empirical evidence on the impact of GCP on industrial green transformation. This research fills this gap by comprehensively investigating the impacts and mechanisms of GCP on industrial energy intensity (EI) in China, considering both incentive and constraint effects. Theoretically, the environmental and financial impacts of GCP are merged into a unified analytical framework based on a heterogeneous enterprise model. Empirically, diverse empirical methods, including difference-in-differences (DID), difference-in-differences-in-differences (DDD), and mediating effects models, are adopted to examine whether GCP can promote green innovation or accelerate financial constraints. Results show that (1) GCP significantly decreases EI, especially among high-polluting enterprises (HPEs). The impact of incentives is far greater than that of constraints. (2) Regarding the incentive effect, energy substitution and innovation offsets exert a primary influence on reducing EI. (3) The constraint effect is caused primarily by rising financing and pollution abatement costs. (4) Heterogeneity analysis shows that the inhibiting effect of GCP is more significant in non-state-owned enterprises, underdeveloped financial markets, and abundant energy endowments. This paper provides a theoretical framework and new empirical evidence for policymakers to design effective policies for promoting industrial green transformation.

International Sanctions and Innovation : Empirical Evidence from China’s A-Share Listed Companies

ABSTRACT Based on data from A-share listed companies in China from 1990 to 2018, this research explores the impact of international sanctions on enterprise technological innovation and their mechanism. Findings demonstrate that international sanctions have a significant inhibitory impact on enterprise technological innovation and are still valid after several robustness tests and endogeneity treatments. Analysis of heterogeneous enterprises presents that the inhibitory effect is mitigated in state-owned enterprises (SOEs) and monopoly industry enterprises, but intensifies in high-tech enterprises. Further mechanism analysis notes that the inhibitory effect is partly transmitted by weakening the internal and external financing capacities of companies.

Cloud based IoT Electronic Healthcare Data Warehouse Integration in emerging 5G Health Grid Ecosystem

The integration of heterogeneous enterprise cloud data warehouses enables the formation of national health grid ecosystem that links public and private health databases to enable supervision of healthcare utilities, costs, quality of care and observance of national healthcare administrative protocols. The development of cloud data warehouse requires information communication technology to condense the costs of patient’s healthcare by supporting care, away from hospitals, where increasingly detailed data can move from patients to centralized cloud server data warehouse, allowing efficiency in diagnosis and treatment options. The global democratization of 5G telecommunication broadband creates entirely new use case scenarios for consumers addressing healthcare sector and industries, intending to improve citizen’s life expectancy. The improved data rate transmission revolutionizes healthcare sector and offers prospects that enable the telecommunication merchants to penetrate the supply chains and initiate partnerships that profit the entire healthcare business ecosystem. This paper analyses the 5G network implementation business potentials, focusing on the 5G business opportunities that originate from industrial healthcare automation, allowing patient data aggregation required for citizens’ healthcare management. The research entrenches the 5G radio frequency access network and distributed cloud IoT server systems in constructing a healthcare grid data warehouse to enable self-optimized service-level agreements. Moreover, this paper observes that the healthcare sector prioritized telecommunication operators when partnership issues were debated above every other service sector addressing healthcare development. The cloud IoT platform offers solution to synchronize-able global device connectivity management for e-healthcare and demonstrates how these improvements enable development of new systems for public healthcare policy formulation and delivery in Nigeria.

Sustainable Technology Diffusion Manufacturing Outwards FDI Firms: Evidence from China Using Numerical Simulation Methods

Technology diffusion plays an important role in the improvement of technological innovation capabilities and can provide strong support for sustainable economic development. This paper aims to analyze the influence mechanism of technology diffusion on sustainable development, such as the initial investment willingness, technology spillover effects and absorptive capacity, technology transfer prices and intellectual property protection, government subsidy support and penalties. However, there is a lack of systemic game mechanism and numerical simulation methods for heterogeneous enterprises. Based on the government, OFDI companies, and domestic companies that are not involved in FDI, we have proposed the evolutionary game model for technology diffusion on sustainable development. The results show that: (1) The government, OFDI firms, and domestic firms are influenced by each other’s initial willingness to a different extent; (2) Different combinations of technology spillover and absorptive capacity lead to different sustainable evolution results of technology diffusion; (3) Reasonable technology transfer pricing and enhancing the protection of property rights can improve the efficiency of the technology diffusion sustainable development system; (4) Both financial support and penalties encourage technology diffusion sustainable development, but excessive financial support reduces the government’s willingness to participate ultimately. Therefore, this paper proposes that the government should increase its willingness to participate and increase punishment for unreasonable pricing behaviors. The stronger the stimulus effect of OFDI firm technology spillover and domestic firm absorptive capacity, the stronger the stimulus effect; however, there is a certain threshold effect, at the same time increasing the property rights protection of OFDI firms and the penalties for opportunistic behaviors of domestic firms, and establishing a diversified financial support policy, will increase the efficiency of the technology diffusion sustainable development system.

Analysis of Regional Social Capital, Enterprise Green Innovation and Green Total Factor Productivity—Based on Chinese A-Share Listed Companies from 2011 to 2019

At present, social capital is considered to be one of the important reasons for promoting economic development and causing regional economic differences, but in the existing research, there is little literature on the impact of regional social capital on enterprises’ green innovation behavior and green total factor productivity (GTFP), so this paper aims to enrich the research in this area. This paper builds a regional social capital evaluation index system and uses the super-SBM model to measure the enterprise GTFP. Then, this paper brings regional social capital, enterprise green innovation and GTFP into a unified framework for the first time and further reveals the quantitative relationship between the three by using OLS and Tobit two-step methods based on the panel data of 30 provinces from 2011 to 2019. The results show that regional social capital has a positive effect on enterprise GTFP and green innovation (except for strategic green innovation output), enterprise green innovation output has a positive role in promoting GTFP, and enterprise green innovation capital investment has a masking effect between regional social capital and GTFP. Furthermore, the expansive study finds that there are differences in the impact of regional social capital on green innovation and the GTFP of heterogeneous enterprises, and financing constraints have a positive regulatory effect on the relationship between regional social capital and the GTFP of state-owned enterprises, while having an inhibitory effect on the GTFP of private enterprises. Fiscal decentralization has a partial mediating effect between regional social capital and enterprise GTFP, while urbanization and CO2 emissions have a masking effect. Additionally, this paper aims to provide a reference for the improvement of regional social capital theory, the strategic choice of green innovation of enterprises, and the high-quality development of the economy.

Does the enterprise’s choice of intangible capital help to promote its ESG score?

Digital transformation, as an important way to optimize the existing resources of enterprises, is a driving force to achieve their high-quality development. Intangible capital is used to reflect the status of digital transformation of enterprises, so as to explore the relationship between the decision of enterprises on digital transformation and the ESG scoring effect of enterprises under financing constraints. The results show that when enterprises are faced with strong financing constraints, the management’s decision on digital transformation tends to be conventional. Although maintaining the traditional business model is more beneficial, it is not conducive to the improvement of ESG score. To further analyze the digital transformation mechanism of enterprises, this paper examines the decision-making behavior of enterprises under financing constraints from the perspective of intermediary mechanism. The results show that the decision of increasing intangible capital of enterprises promotes the improvement of enterprise performance, and then drives the promotion of the enterprise ESG score. This study enriches the research achievements in the field of digital transformation of enterprises, and provides reference for heterogeneous enterprises to select digital transformation decisions.

The Global Value Chain and Welfare Effects of Tariffs—Counterfactual Analysis of Sino–US Economic and Trade Frictions

This paper aims to study the impact of Sino–US (China–United States) trade frictions on global value chains and welfare changes. We introduce the general equilibrium model for multi-country and multi-sector heterogeneous enterprises and combine it with an input–output structure. The results show that the additional tariffs on China and the US reduce bilateral trade and affect the overall imports and exports of both countries to varying degrees. The results show that the additional tariffs on China and the US affect both countries’ overall imports and exports to varying degrees. The impact of the trade of manufactured goods is greater than that of the trade of intermediate goods. The welfare effect in China has dropped by 0.163%, while the corresponding effect in the US has improved by 0.016%. The main reason for the decline in China’s welfare is the deterioration of the terms of trade. Increased tariffs between China and the US can reduce bilateral trade between the two countries, particularly in intermediate goods, and can cause a reorganization of global value chains in both regions.

How do financing constraints enhance pollutant emissions intensity at enterprises? Evidence from microscopic data at the enterprise level in China

This paper introduces financing constraints into a partial equilibrium analysis framework for heterogeneous enterprises and theoretically reveals the mechanism in how financing constraints affect enterprise pollutant emissions. The results show that financing constraints can significantly increase the emissions intensity of enterprises. This conclusion remains robust to multiple scenarios, such as considering the endogeneity problem, excluding interference from external financing environment and environmental regulations. Our heterogeneity analyses show that financing constraints have a relatively small impact on export enterprises, large-scale enterprises, and enterprises located in clean industries, low-carbon cities and innovative cities. Further inspection of the transmission mechanism confirms that financing constraints affect the increase in enterprise pollutant emissions intensity in mainly two ways: hindering enterprises' technological progress and inhibiting improvement in total factor productivity. In addition, the extensibility analyses show that urban financial development can weaken the impact of financing constraints on pollutant emissions intensity. Financing constraints also significantly increase enterprises' energy intensity.

How does urban environmental legislation guide the green transition of enterprises? Based on the perspective of enterprises' green total factor productivity

This paper uses a dynamic slack-based measure (DSBM) model to calculate an enterprise's green total factor productivity (GTFP), used as the proxy variable for measuring the enterprise's green transition. We use urban environmental legislation as a quasi-natural experiment and introduce it into a partial equilibrium analysis framework for heterogeneous enterprises and theoretically reveal the mechanism in how urban environmental legislation affects enterprises' GTFP. The results show that implementing urban environmental legislation can significantly improve the GTFP of enterprises. This conclusion remains robust to multiple scenarios. Our heterogeneity analyses show that urban environmental legislation has a relatively significant impact on non–state-owned enterprises, enterprises with low financing constraints, enterprises located in Two Control Zones and Central Plains Urban Agglomeration. Compared with the ex-post-facto treatment of pollutants through abatement, encouraging enterprises to increase investment in prevention is more conducive to improving enterprise GTFP. Further inspection shows that environmental legislation on the prevention of water, air, and solid waste pollutants has a greater impact on enterprise GTFP. In addition, this paper uses a simhash algorithm to quantify the 662 laws, finding that the improvement effect on enterprise GTFP is more significant with increasing intensity in urban environmental legislation.

Implementation strategy and emission reduction effectiveness of carbon cap-and-trade in heterogeneous enterprises

In this research, a carbon emission reduction supply chain mechanism formed by government and enterprises is developed. Using a mixed game model, we study the impact of enterprise heterogeneity and social willingness-to-pay for environmental measures on the implementation strategy and effectiveness of cap-and-trade mechanism. The choice and effectiveness of the strategies are cross-influenced by the aforementioned two factors. The former has thresholds, which serve as a basic guarantee and adjustment; the latter is a key factor affecting government and enterprise decision-making and the fairness of the sharing of emission reduction responsibilities. The quotas allocation in compliance with the rule mainly affects the allocation of industry profits and consumers’ active payment among enterprises, and is an effective tool for achieving two-way incentives. The difference between quotas and the voluntary reduction of emissions is the main reason for the surplus or shortage of quotas. We propose an emission reduction integration mechanism, which is based on the social willingness-to-pay for environmental measures, the difference of carbon emissions per unit and the quota allocation schemes, can avoid negative incentives and lack of fairness. The emission reduction mechanism can only reduce the loss of social welfare, but the government can launch appropriate emission reduction practices based on the conception of carbon neutrality to improve social welfare.