Our sample comprises 31 provincial-level administrative areas in China, which cover the Eastern, Central, and Western regions as well as both developed and developing regions. This broad range of coverage allows our study to represent all of China and provides general conclusions about the link between China's environmental policy and economic growth. According to the regressing results, the environmental policy is actually good for economic growth, however, this effect mainly influences the SOE and urban areas. This study focuses on the economic effects or macro-level environmental benefits of environmental regulation, overlooking a fundamental question: what is the fate of the regions and the groups that bear the direct costs of transition for environmental protection efforts? This study aims to shift the perspective from macro analysis to the “shock” endured by micro-individuals.

In recent years, Environmental, Social, and Governance (ESG) factors have played an increasingly important role in how companies are evaluated and how investment decisions are made. While much of the existing research has focused on developed markets and broad, market-level data, this study looks more closely at industry differences within China’s A-share market—a setting where ESG practices are still evolving. Using firm-level time series regressions on data from around 3,000 listed companies between 2010 and 2020, this study identifies 198 firms where ESG ratings are significantly linked to annual stock returns. The results show a clear positive relationship in infrastructure and resource industries, where ESG activities often align with long-term growth. In contrast, companies in the consumer services sector tend to show negative correlations, likely due to higher costs, price sensitivity, and brand-related risks. Manufacturing firms show mixed outcomes, pointing to uneven ESG adoption. These findings add new insight to the ESG debate in China and offer useful guidance for investors, regulators, and company leaders.

This study is an empirical assessment of the Capital Asset Pricing Model (CAPM), the Black–Scholes option pricing model (Black-Scholes), and the Put–Call Parity principle (PCP)in China's A-share equity market and the U.S. derivatives market. Using data from 2020 to 2023, the research will investigate whether these classical models can reliably describe real-world market behaviors. Precisely, the low R² obtained from CAPM analysis of Kweichow Moutai and the CSI 300 Index suggests that the model is not sufficient to explain market dynamics. In the meantime, beta coefficients in the standard CAPM are negative and statistically insignificant, indicating the failure of single-factor risk measures to capture the market dynamics properly. For derivatives, testing of European options on AMZN and SPY shows that the Black–Scholes model does have directionally consistent pricing. However, systematic deviations and volatility smiles indicate that, in a real market, there are persistent and unavoidable violations of constant volatility assumptions. Also, the put–call parity principle, although generally held, has small but persistent deviations caused by transaction costs, liquidity constraints, and other market frictions. All in all, findings show that the empirical accuracy of CAPM, Black–Scholes and Put-Call Parity is limited by market structure, behavioral factors, and unrealistic assumptions. This study further demonstrates the need for multifactor modeling approaches that could enhance the validity of asset pricing models.

The essay presents a multi-horizon framework for S&P 500 stock price prediction, basically integrating Ridge regression and Long short-term memory. The proposed methodology aims to address the inherent challenges of financial time series prediction by combining three-dimension data sources: technical, sentiment and macroeconomics indicators. Moreover, the time phase of prediction involves 1-day, 10-day and 30-day prediction, which can be utilized in both short-term and long-term investment strategy. By testing distinct model results in the three ranges, we implement specialized and differentiated combination of models and indicators: for 1-day prediction, employing Ridge Regression processing sentiment and macroeconomic features combined with LSTM which processes the times series. The weight model is weighted averaging; the 10-day horizon incorporates technical indicators alongside sentiment and macro factors, implementing accuracy-weighted ensemble methods; The 30-day prediction leverages all the feature set with Gradient Boosting integration. Our 1-day prediction R2score reaches 0.002 and accuracy reaches 83.0 %; 10-day prediction R2score gets 0.456 and accuracy reaches 76.1%; 30-day prediction R2score is 0.557 and accuracy reaches 77.9%, which demonstrates a strong positive correlation between R2score and time phases and a negative correlation between accuracy and time phases.

The study is designed to dig the association between ESG and economic efficiency. Total samples used are 520 listed enterprises in Chinese stock market for one year (2020). Multiple regression is adopted to analyze this research. The independent variable is ESG scores, and the dependent variable is return on assets (ROA). Control variables include size, leverage, and cashflow. The effect of overall and individual ESG on ROA is examined. Comparing the impact of ESG in different industries and analyzing the reasons for it. This paper finds no important association between ESG and ROA. For individual factors in the industry level, social has no significant impact. However, governance and environmental performance have a significant impact in some specific industries, such as information transmission software and the retail industry, respectively. This study indicates that ESG did not become a key factor determining corporate performance in China in 2020. Furthermore, it provides suggestions for the sustainable growth of companies and the investment of investors.

This analysis explores how Te Hiku Media, a Māori-led non-profit organization, integrates interdisciplinary strategies to protect and revitalize the Māori language while actively resisting the forces of data colonization driven by large technology corporations. Central to their approach is the development of in-house machine learning models that leverage semi-supervised learning methods, which significantly reduce the need for extensive labeled datasets. By adopting this strategy, Te Hiku maintains linguistic sovereignty, safeguards cultural heritage, and minimizes reliance on external corporate infrastructures. Beyond the technical dimension, the organization applies financial tools such as cost-benefit analysis, Bayesian probability, and multivariate regression to support risk-aware decision-making in areas of data ownership, potential commercialization, and the long-term preservation of cultural value. The initiative also foregrounds critical ethical considerations, including the avoidance of algorithmic bias, the prevention of price discrimination in educational access, and the enforcement of strict community-led governance structures to ensure data privacy and cultural accountability. Te Hiku Media’s work demonstrates how localized, ethical applications of artificial intelligence can simultaneously promote cultural continuity and advance social equity. Their model provides a replicable pathway for other Indigenous communities navigating similar technological, cultural, and geopolitical challenges in the rapidly evolving digital age.

Based on data of Chinese listed companies covering the period from 2012 to 2022, this study investigates the influence of directors' audit experience on corporate investment behavior. The regression analyses show that director with audit experience tend to reduce investment scale, enhance investment diversification, and curb inefficient investment. The findings show that the COVID-19 pandemic amplified the risk-averse characteristics of directors with audit experience, intensifying their impact on investment behavior. Moreover, director audit experience can enhance corporate risk-taking capabilities, improve accounting information quality, and alleviate financing constraints.

The European Union introduces a cross-border carbon policy, the Carbon Border Adjustment Mechanism (CBAM), to prevent carbon leakage. This study aims to investigate the short-term market reaction of Chinese listed firms in industries covered by the EU CBAM to its official enactment on May 17, 2023. This research examines whether investors perceived the CBAM as a risk or an opportunity. Using an event study methodology, we analyze the cumulative abnormal returns (CAR) for a sample of affected firms over a three-day event window surrounding the enactment date. The results reveal a significant positive market reaction, with a cumulative average abnormal return of 0.60%, primarily driven by a strong 0.91% positive return on the enactment day itself. This finding suggests that investors, on aggregate, interpreted the CBAM not as a punitive burden but as a regulatory shock that will enhance the short-term valuation of Chinese exporters.

This comparative review is about how sex ratio imbalances affect marriage, culture, and economy. Taking Australia’s historical experience as the main reference (quasi-natural experiment), and cross-country evidence in 2015-2025, we identify three linked channels: (1) labor market outcomes and gender roles; (2) marriage and household economic behavior – particularly housing demand, saving, and portfolio choice; and (3) persistence of culture and the protective role of institutions. A higher proportion of males raises the intensity of marriage competition, increases housing demand (including multi-home purchases) and the value of parental housing wealth, drives households to save more and, in some context, to hold riskier asset portfolios. It may also embed gender norms, entrench traditional female roles, and affect women’s labor participation with heterogeneous impacts on crime depending on welfare and governance capacity. Public goods – such as sanitation – enter marriage matching and can make a difference to marriage surplus. Compared to China, the long-run sedimentation of culture versus a rapid and financialized housing channel are illustrated through a comparison of Australia, China, India, Sweden, etc. A final conclusion of this review is that institutions and policy may alter the above three channels. Policy implications include (1) addressing the root cause of imbalances; (2) decoupling marriage from housing; (3) coordinating housing – finance policy; (4) more investment in childcare and anti-discrimination; (5) improving public goods; (6) strengthening social governance.

Traditionally, returning young people refer to rural youth who, after graduating from universities in cities or working for one or two years, return to their hometowns to start businesses out of nostalgia, driving rural economic development and increasing villagers' income. Studies have found that due to insufficient social experience, limited personal capabilities, and lack of social resources, the success rate of entrepreneurship among this group is relatively low. However, there is a group of middle-aged urban residents who, out of the pursuit of a lifestyle and personal career development, move from cities to rural areas to settle down and engage in production and life, often with a higher success rate. Although they cannot generally directly drive villagers to prosperity, they have made significant contributions to the rural environment, cultural atmosphere, community governance, and local consumption, which is more in line with the comprehensive and diversified development values of rural revitalization. Therefore, we can redefine returning young people in a broader sense and propose corresponding measures to attract this group to better realize rural revitalization.