How do industry and province attributes impact corporate contribution to poverty alleviation: A multilevel analysis.

This study employs a multilevel model, nesting firm observations within industry and province groups, to investigate the influences on corporate contributions to poverty alleviation while considering the industrial and provincial contexts. Using a sample of Chinese firms listed in Shanghai and Shenzhen Stock Exchanges between 2016 and 2019, we find that Herfindah-Hirschman Index (HHI) does not affect corporate contribution. The results show a significantly negative relationship between industry dynamism and a firm's substantial poverty contributions, as well as a significantly positive relationship between number of state-owned enterprises (SOEs) in industry and the likelihood and extent of a firm's contributions. Moreover, a firm's likelihood to participate in anti-poverty activities and make substantial contributions is affected by more intense government intervention and lower per capita GDP. A province's poverty rate is positively associated with the extent of corporate investments in poverty alleviation. Additional analyses note that firms competitive in an industry that is less dynamic environment are more likely to invest funds into poverty alleviation instead of material contribution. Moreover, for firms headquartered in an industry with more SOEs and in provinces with a stronger government, a higher poverty rate and lower per capita GDP mean it is more likely for them to make both monetary and material contributions for anti-poverty campaigns.

Stock market reaction to product-harm crisis response strategies.

Product-harm crises have detrimental effects on firm's sales, reputation, and financial value, requiring crisis managers to promptly adopt appropriate response strategies to mitigate these impacts. Situational Crisis Communication Theory (SCCT) guides managers to align responsibility attribution with response strategies. Using Chinese listed firms' product-harm crises sample from 2015 to 2021, this study analyzes the stock market's reaction to different response strategies. The event study method reveals that a passive strategy is more effective during the disclosure stage, and accept+no recall and deny+recall are conforming strategies during the initial response stage. Additionally, firms with a crisis history should assume greater responsibility when developing response strategies for product-harm crises, as crisis history amplifies negative effects. The results provide recommendations to help managers formulate appropriate strategies.

Effect of Petroleum Generation and Retention on Nanopore Structure Change in Laminated and Massive Shales-Insights from Hydrous Pyrolysis of Lacustrine Source Rocks from the Permian Lucaogou Formation.

The lacustrine shale of the Middle Permian Lucaogou Formation in the Jimusar Sag is the principal prospective unconventional target in the Junggar Basin. The effect of petroleum generation and retention on nanopore structure change during thermal maturity in lacustrine shale is still unclear. In this study, two laminated and two massive shale samples from the Permian Lucaogou Formation were selected to study this change by closed hydrous pyrolysis. The pyrolysis temperatures were 295, 320, 345, 370, and 400 °C, which cover from the mature to the post-mature stage. Total organic carbon (TOC), Rock-Eval, and low-pressure N2 adsorption tests on pyrolyzed shale samples before and after extractable organic matter (EOM) extraction were conducted systematically. The results indicate that (1) the petroleum generation on nanopore structure change is in stages. The peak nanopore volume expanding stage is the late oil window (R o = 0.9-1.35%). At the post-mature stage (R o > 1.35%), the mesopore volume decreased and the majority of the nanopore space is from macropores. (2) The presence of EOM decreased both mesopores and macropores in the peak oil window. (3) The organic-rich laminated shale generated more macropores than massive shale with increasing thermal maturity. The results of this study shed light on the dynamic effect of laminae fabric, petroleum generation, and retention on shale nanopore structure change across the oil window.