Encirclement of productive capacities and institutions in context of sustainable development.

The question of whether productive capacities and institutional quality facilitate or impede progress towards sustainable development is a significant issue that has not been extensively explored in prior literature. Despite their importance, these variables are often overlooked in the literature on sustainable development, yet they play a crucial role in enabling efforts to achieve sustainable development. In this study, we examined how productive capacities affect sustainable development, with a moderating impact of institutional quality. The sample was comprised of 44 Belt and Road Initiative (BRI) economies, covering the period from 2000 to 2018. Using a two-step system GMM, we found that the relation between productive capacities and sustainable development is dynamic, positive, and significant. Additionally, institutional quality played a moderating role in achieving sustainable development, especially among regionally connected countries. Our findings suggest that sustainable development is strongly linked to a country's productive capacities. Therefore, improving productive capacities and institutional quality may lead to long-term development and sustainability. These results are valuable to academia as they provide new thought regarding the influence of productive capacities and institutional quality on sustainable development, and policymakers may benefit from the suggestions presented regarding productive capacities and institutional quality.

Unveiling the affecting mechanism of digital transformation on total factor productivity of Chinese firms.

The importance of digital transformation (DGT) for increasing productivity cannot be negated and Chinese firms are rapidly embracing the digital transformation for their sustainability. But the mechanism and impact of digital transformation on total factor productivity (TFP) of firms is still unclear and this study is intended to fill this gap using the data of 3112 listed firms of China during 2011 to 2022. We applied various econometric techniques like stepwise regression analysis, instrumental variable approach, differences in difference approach, and mediating analysis to determine the relationship between digital transformation and TFP and robustness of estimated findings. The findings indicate that DGT has a positive impact on overall TFP of firms in China while operating efficiency, cheaper costs, and a stronger capacity for innovation mediates this relationship. Moreover, it is explored that conventional information and communication technologies have not significant impact on TFP of firms. The findings of the study remain valid even applying many robustness checks and attempts to control the issue of endogeneity. To fully leverage the potential benefits of digital transformation on TFP, it is essential to focus on enhancing digital literacy and skills among the workforce. Governments and relevant stakeholders should prioritize and invest in comprehensive digital literacy and skills training programs to empower the workforce with the knowledge and expertise needed to navigate the digital age effectively.

Moderating role of policy incentive and perceived cost in relationship of environmental awareness and green consumption behavior.

Over time, environmental concerns have gained much importance and main debatable issue. Green products are becoming popular due to their positive impact on environment and their role in the green economy. However, the significance of environmental awareness, perceived cost, face culture and policy incentives on green consumption behavior is not fully examined in prior research. This research aimed to analyze the various dimensions impacting behavior regarding green consumption in China. Moreover, the moderating impact of policy incentives, perceived cost, and face culture is also explored. An internet-based survey was undertaken and findings indicate that environmental awareness serves as foundation for eco-friendly consumption. The transition from awareness to action is influenced by various factors. Among these, the perceived cost by consumers represents a significant barrier to green consumption, while face culture has a significant impact in encouraging green consumption. Interestingly, policy incentives do not exhibit any notable direct effect or moderating influence on green consumption practices of consumers.

Unleashing the behavioral factors affecting the decision making of Chinese investors in stock markets.

This research paper delves into the behavioral factors that have impact on decision making of Chinese investors in stock markets. As one of the world's most dynamic and rapidly evolving financial landscapes, stock markets of China have witnessed significant growth and transformation in recent years. However, the role of behavioral biases in shaping investment decisions remains a relatively understudied aspect. Drawing upon a detailed review of studies, psychological theories, and empirical studies, this research explores various behavioral factors affecting the decision of investors at Beijing, Shanghai and Shenzhen stock markets. Through a structured questionnaire and by collecting a sample of 521 respondents, this paper investigates that herding, overconfidence, prospect, market, gamble's fallacy, and anchoring-ability bias often lead investors to deviate from rational decision-making and contribute to market inefficiencies. While herding, prospect, and heuristic affect the investment performance in stock markets of China. Moreover, the research underscores the need for investor education programs and regulatory interventions that acknowledge the presence of behavioral biases and encourage more informed decision-making. By shedding light on these dynamics, it provides valuable insights for policymakers, financial institutions, and investors seeking to navigate the intricacies of this rapidly growing financial landscape.

Pollution halo impact in context of productive capacities, energy poverty, urbanization, and institutional quality.

The Belt and Road Initiative (BRI) represents a substantial development strategy spearheaded by China. Its central aim is to foster connectivity across a vast geographical area that includes countries spanning Asia, Europe, and Africa. This project played a pivotal role to develop the region on the one side and also raised serious environmental concerns on the other side. There is extensive literature explored the various dimensions affecting the environment in BRI partner countries but there is hardly any study examining the impact of productive capacities, energy poverty, FDI, urbanization, and institutional quality on CO2 emission in the BRI region. Moreover, pollution halo impact is also explored so this study used panel data of 52 nations engaged in the BRI covering time span of 2001-2022 by applying OLS, Difference GMM, System GMM, Cross sectional-ARDL techniques. The results suggest that enhancing productive capacities, FDI and institutional quality significantly reduces carbon emissions in the region, while energy poverty, urbanization and economic growth is linked to higher carbon emissions. Moreover, 'pollution halo effect' is proved because of adoption of eco-friendly technologies through foreign corporations lead to reduction in carbon emission. The study advocates for policy measures that emphasize the promotion of productive capacities, the utilization of renewable energy sources, the adoption of practices regarding sustainable urban development, the implementation of efficient institutional structure, and inflow of eco-friendly technology through FDI.

Factors affecting the green investment and assessing sustainable performance of firms in China.

In the process of development, global economies are prioritizing environmental protection and firms are also recognizing the importance of minimizing environmental impact during production along with maximization of profits through green investments. It is vivid that green investments are vital for environmental preservation. So this paper contributes to literature by investigating the role of internal and external factors affecting the decision making of Chinese firms regarding adoption of green investments and impact of green investments on environmental, social, and economic performance of firms. The data is collected from directors/senior managers of the firms. We received 463 valid responses from listed companies with Shenzhen, Beijing, and Shanghai Stock Exchange. The "structural equation modeling" with "maximum likelihood estimation" is employed for empirical analysis. The empirical findings reveal that adaptation to climate change and its mitigation is the most important driver of green investment. Moreover, green investment positively contributes to enhancing the social, economic, and environmental performances of Chinese firms. Based on the findings of the study, green investment should be adopted as a corporate strategy by firms for profit maximization, competitive advantage, and improvement in social well-being without compromising the environment. Policy makers can promote green investment by offering policy instruments such as tax incentives, guaranteed credits, grants, and investor education. Training courses may be offered to raise environmental awareness among firms and the general public.

Achievement of sustainable environment through effectiveness of social media in Z generation of China.

Social media is emerged as a powerful communication tool over the past ten years. The Z generation's green buying habits and purchase intentions are being reshaped by social media, which is helping to advance the development of a sustainable environment. The consumption of non-organic products has raised carbon emissions, so changing consumption patterns and purchase intentions is necessary for a more sustainable future. Moreover, earlier literature has the absence of a comprehensive behavior change model that explains the mechanism through which social media influences sustainable behaviors This study explores that how social media affects patterns of consumption for Z generation of China while considering the role of environmental concerns, subjective norms, eco-branding and eco-labeling on the basis of theory of planned behavior. A questionnaire is used to get information from the 563 Z generation respondents of China. The data is analyzed using Smart-PLS and empirical outcomes show that social media has a statistically significant influence on shaping and affecting green consumption behavior of China's Z generation because it has the potential to reach a vast audience and spread awareness about environmental issues, leading to increased intention towards a sustainable environment and reduction in carbon emissions. It also provides a platform for individuals to express their opinions and engage in discussions on environmental issues. These developments are promising for the future of environmental sustainability as they indicate a growing interest in preserving the planet among the Z generation of China. It can be recommended as a policy tool that government and other organizations should support the development of informative content on social media platforms, highlighting the importance of environmental sustainability and eco-friendly habits.

Greening the BRI countries through economic and political reforms.

Preserving the environment and promoting sustainable development are essential objectives for a state aimed at improving the standard of living for present and future generations. The depletion of natural resources and environmental degradation are serious concerns for policymakers worldwide. However, to fulfill its role effectively, a state must have strong institutional capacity. Studies have shown that inadequate governance and weak institutional quality are associated with environmental degradation, lower economic growth, unfavorable development outcomes, and increased inequality. Economic and political reforms are necessary to overcome these issues, while the concept of institutional reforms to save the environment is novel and hardly discussed in the earlier literature, especially in the context of BRI countries. So, this study explores the impact of economic and political reforms on the environment by applying a difference-in-differences approach to the data of 45 BRI economies from 2000 to 2022. The empirical findings reveal a negative relationship between economic and political reforms on ecological footprints, emphasizing the need for institutional reform to preserve the environment in the BRI region. Institutional reforms have a significant contribution to environmental sustainability by fostering better governance, political stability, and an environment conducive to reforms-driven decision-making. These reforms can help address the environmental challenges associated with large-scale infrastructure and economic development projects like the BRI, ultimately contributing to a more sustainable future.

The usage of spatial econometric approach to explore the determinants of ecological footprint in BRI countries.

Protecting our environment is not a choice, but a responsibility we owe to future generations. Numerous studies examined the factors affecting the environmental deterioration but this research takes a step further by employing a spatial dependence model to evaluate spatial impact of ecological footprint and its contributing factors, particularly productive capacities which is hardly investigated in economic literature of BRI economies. For the purpose, the annual data of 54 BRI countries is analyzed for the time period from 2000 to 2018 by employing various econometric techniques. The outcomes of the Durbin model express that neighboring economies significantly affect the ecological footprint of an economy, highlighting the need for a regional policy framework to address environmental issues. It is also found that improving the productive capacities, green investment and democratic quality decrease the ecological footprint while per capita GDP, globalization, and development of financial sector increase the environmental deterioration. The significant interdependence of the countries within the region, a regional policy and vision must be implemented to safeguard the environment. The research findings can facilitate policy formulation aimed at promoting environmental sustainability, with particular focus on enhancing productive capacities and green investments.

Unleashing the horizons of labor quality, digitalization on upgradation of industrial structure in Asian economies.

A country's industrial structure plays a pivotal role in determining its competitiveness, growth, and sustainability. Recently, many Asian countries have experienced significant economic upgradation and transformation and have emerged as major players in global trade. It is crucial to understand the factors contributing in upgradation of industrial structure of Asian economies for their continuous progress and it is little focused in literature. This study explores the effect of labor quality and digitalization on the upgradation of the industrial structure in 32 Asian countries covering the time period from 2010-2021. Multiple econometric techniques are applied for a comprehensive analysis of data, and the findings show that high-quality labor has a positive contribution to upgrading the industrial structure. Moreover, digitalization upgrades the industrial structure by improving connectivity, fostering collaboration, and enhancing productivity. Based on the findings of this study, Asian countries should prioritize investments in education and skill development to enhance human capital quality. Additionally, they should promote policies that facilitate digitalization, including investments in digital infrastructure, the development of digital skills, and the creation of a supportive regulatory environment. Thus, Asian countries can accelerate the upgradation of their industrial structure, leading to sustainable economic growth, increased competitiveness, and improved living standards.

Meditation for role of productive capacities and green investment on ecological footprint in BRI countries.

The Belt and Road Initiative (BRI) is a development strategy with a focus on enhancing connectivity, promoting economic growth, and improving people's livelihoods. However, it has also raised concerns about its effect on the environment. This study explores the impact of productive capacities and green investment in mitigating the ecological footprint of BRI countries. The role of productive capacities on ecological footprint is very little discussed in earlier studies. This study investigates the effect of productive capacities index and green investment on ecological footprint for 42 BRI participating countries covering the time span of 2000-2018. Different methods are applied to tackle the problem of dependence of cross sections; then Lagrange multiplier bootstrap method is applied to find co-integration. The long run relationship is uncovered by "augmented mean group" (AMG) and "common correlated effects mean group" (CCEMG). The findings of the study show that both productive capacities and green investment have a significant negative impact on ecological footprint, depicting that promoting sustainable development and environmental protection is feasible through increasing productive capacities and investing in green technologies. The findings of this study have important implications for policymakers, who should focus on promoting sustainable environment by prioritizing productive capacities and green technologies.

Mediating the performance of social organizations in context of social and organizational innovations in China.

Social and organizational innovations are one of the most effective ways to gain social collaboration for effective, rapid, and coordinated interventions. An analysis of the relationship among organizational performance (OP), social innovations (SI) and organizational innovation (OI) in social organizations (SOs) is little discussed in the literature and much less with main component analysis. This paper is an effort to provide some empirical evidences about social and organizational innovations that social organizations in China have implemented to address the social issues of the society. A survey of Chinese SO's is conducted during beginning two months of 2022 in provinces of Jiangsu, Guangdong and Zhejiang to attain the statistics and assessing the insights of the executives of the SOs participating in this study with respect to organizational performance, social and organizational innovations. The technique used to select the sample is a non-probabilistic sampling and multiple linear regression model is applied to determine the partial impact of organizational innovations and social innovations on the organizational performance. The grouping of the variables is carried out through main components analysis. The empirical findings of the study highlight that Chinese SOs are innovative because they adopt management strategies to address the social issues associated with their institutional mission. There are four groups of derived components from organizational and social innovations based on the empirical evidence: SO's innovative activities to modify the environment; inside innovative measures to enhance SO's performance; innovative activities of SO's to enhance their relationships with outside actors; innovative measures to improve the management of SOs related to their mission and institutional projects. The findings of this study offer an efficient solution to government and policy makers for involving SOs in terms of planning of social development in China. The social and organizational innovations are very necessary to overcome the social issues so government should encourage the establishment and sustainability of social organizations.

An analysis of the environmental impacts of ethnic diversity, financial development, economic growth, urbanization, and energy consumption: fresh evidence from less-developed countries.

Improving the quality of environmental indicators has become a global concern that necessitates the identification of possible channels through which environmental welfare can be enhanced worldwide. Against this backdrop, this current study aims to elucidate the environmental effects of ethnic diversity, controlling for financial development, urbanization, economic growth, and energy consumption in the context of 51 less-developed countries during the period from 1996 to 2016. For measuring the environmental impacts, we use both the ecological footprint and carbon dioxide emission figures of these countries. Overall, the cointegration analysis confirms the existence of long-run relationships among the study variables. Besides, the regression analysis reveals that ethnic diversity deteriorates environmental quality by surging the ecological footprint and carbon dioxide emission levels of the selected nations. Similarly, financial development and energy consumption are found to impose identical adversities on the environment while urbanization is evidenced to ensure environmental welfare. Lastly, for both the environmental indicators considered in this study, the environmental Kuznets curve hypothesis is verified from the findings. Hence, considering these key outcomes, a set of relevant environmental welfare-related policy interventions are recommended in the context of less-developed countries.

Exploring rural inhabitants' perceptions towards food wastage during COVID-19 lockdowns: Implications for food security in Pakistan.

The lessening of food wastage, specifically among nations where about half of its worldwide quantity is produced, has turned to be a mammoth challenge for environmental, social and economic sustainability, and represents one of the seventeen Sustainable Development Goals (SDG) within the Agenda 2030. The quantity of food being thrown away in spite of being in an edible condition has become alarming in middle and high income countries. The COVID-19 lockdown strategy, both at local and international levels, has expressively altered work, life and food consumption behaviors globally, directing to food wastage as a multi sectoral issue. Pakistan has no exception to such manifestations. The main objective of this study is to analyze the perceptions of rural people of Pakistan regarding food wastage during the COVID-19 pandemic. To evaluate whether behavior about food wastage among rural households varied or not during the pandemic, a descriptive survey was carried out using a self-administered questionnaire and 963 responses were selected for further empirical investigations. The findings of the study reveal that food waste actually decreased in spite of an increased amount of purchased food during the lockdown. Our results highlight that the effect of the pandemic has led to reduction in food wastage among rural respondents, an increased consciousness for the morals of food waste, and awareness of environmental impacts of food wastage. The conclusions of this study highlight that rural consumers of Pakistan are emerging with a new level of responsiveness about food wastage with possible positive impact on the environment in terms of decreased greenhouse gas (GHG) emission and other pollutants. The study findings imply that this pandemic time provides a suitable window to raise awareness about food wastage among rural as well as urban households while contemplating effective strategies to overcome the issue of food wastage in the country.

The impact of economic and political reforms on environmental performance in developing countries.

The humans of modern society are enjoying the luxuries and comforts today but future generations will be facing a more polluted environment and scarcity of natural resources. So the effects of global warming and climatic changes are a major policy concern nowadays around the world. The majority of the literature treats the Carbon Dioxide emissions as an indicator of environmental deterioration but this paper considers the environmental performance index as an indicator of environment. This paper addresses the role of institutional reforms for environmental performance that is hardly discussed in the earlier literature. It is argued that a novel approach of institutional reforms can provide some useful insights for environmental performance in developing countries. There is wide agreement that institutional quality is crucial for economic sustainability but rarely focused to explore the impacts of institutional reforms on environmental performance. The institutional reforms are generally divided into two categories; economic and political reforms. This paper investigated the impact of each category of institutional reforms for environmental performance by using panel data of 122 developing economies for a period of 1996-2020. Difference in differences technique is applied to determine the impact of each category of reforms on the environment. It is found that economic and political reforms significantly contribute to protecting the environment in developing countries, and it will be a good policy option to reform the economic and political institutions to preserve the environment in these countries along with sustainable development.

Environmental protection in selected one belt one road economies through institutional quality: Prospering transportation and industrialization.

The effects of economic development on natural environment is explored by momentous literature, this study focuses on exploring the role of institutional quality for environmental protection in the selected One Belt One Road (OBOR) economies. The main goal of the paper is to find the threshold level of institutional quality that may minimize CO2 emissions in the atmosphere due to widespread industrialization and transportation. The data is selected for the panel of 33 OBOR economies over the time period of 1986-2018. The panel threshold regression technique is applied to determine the threshold level of institutional quality. The estimated results of the study reveal that 2.315 is the threshold level of institutional quality in selected partner OBOR countries. If quality of institutions is above the threshold level then CO2 emission do not contribute significantly for environmental deterioration in spite of growing industrialization and transportation and vice versa. The study emphasized to improve the institutional quality up to threshold level to get potential gains from industrialization and transportation.

Social and economic factors responsible for environmental performance: A global analysis.

Several factors influence the environmental performance simultaneously but ethnic fractionalization, political freedom, financial development and institutional quality have a substantial impact to explain the environmental performance across economies. This study focuses to explore that how environmental performance is affected by these economic, political and social indicators by using the annual data of 163 developed and developing countries covering the time period of 1996-2016.The data is collected from World Development Indicators, World Governance Indicators, Freedom House and Cline Centre. The stationarity of variables is analyzed through LLC, IPS and ADF Fisher Chi-square test. Before applying panel ARDL approach to find out the long run relationship among variables, order of integration is determined through Pedroni's cointegration test. The findings of study highlight that ethnic diversity; institutional quality and political freedom play a significant role to decrease CO2emissions while energy consumption, GDP growth and financial development are increasing the environmental degradation. Ethnic diversity is a source of creative and innovative approaches about problem solving of environmental degradation. Political freedom allows people to participate in decision making that posits much compliance with environmental agreements. The foreign direct investment is attracted by good quality institutions which cause to advent of more environment friendly technology along with attractions for further innovations that may helpful to reduce CO2 emissions. Contrary, GDP growth, financial development and energy consumption enhance the industrialization and urbanization leading to increase the level of CO2 emissions. It is suggested for policy makers that cohesion among different ethnic groups; improving institutional quality; providing political freedom to people and inclusive financial sector will acknowledge the less pollutant environment.

Industrialization, Freight Transport and Environmental Quality: Evidence from Belt and Road Initiative Economies.

Belt and Road initiative has been proposed by China to initiate the cooperation among relevant countries in sector of energy and Trade. The study investigate highlighting the relationship between industrial value added per capita, transport freight and CO2 emission among the partner countries of Belt and Road initiatives by using panel of 33 economies from 1986-2017. Study includes panel autoregressive distributed lag model (ARDL) to estimate the long-run relationship among variables. Estimated results of pool mean group (PMG) indicates that increase in industrial value added per capita and transport freight deteriorates the quality of environment in long-run. However, short-run results of granger causality reveals positive and unidirectional causality running from industrial value added per capita to emission of CO2 while transport freight and CO2 emission shows bidirectional causality. The study emphasized to formulate environment friendly policies in industrial and transport sector.