Moderating effect of corporate financialization on the impact of climate policy on corporate green innovation:Evidence from China

With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between climate policy and green innovation in the corporate financialization context.Using Chinese-listed company data from 2008 to 2020,our analysis reveals a favorable correlation between China’s carbon emission trading policy(CCTP)and advancements in green innovation.Furthermore,we find that the level of corporate financialization moderates this correlation,diminishing the driving effect of CCTP on green innovation.Additionally,results of heterogeneity analysis show that this moderating consequence is more evident in non-state owned and low-digitization enterprises compared with state-owned and high-digitization ones.Our findings contribute to the existing literature by clarifying the interaction between CCTP,green innovation,and corporate financialization.Our research provides valuable insights for policymakers and stakeholders seeking to strengthen climate policies and encourages green innovation in different types of businesses.

Price squeeze under fairness: the road to supply chain coordination with a powerful retailer

This research investigates the impacts of the manufacturer’s fairness concerns on the supply chain performance when the power retailer implements a price squeeze and market service investment together.Through game-theoretic modeling,we find that 1)in the absence of fairness,although the manufacturer may be worse off due to possessing imperfect information on the price squeeze rate,the channel may be coordinated through an ex-ante negotiation between the two parties.2)When the manufacturer has fairness concerns for price squeeze,both channel performance and brand goodwill are made worse by disadvantageous inequality and improved by advantageous inequality versus the case of no fairness concerns.Furthermore,channel members’ex-ante negotiations regarding a profit reallocation scheme under certain conditions may achieve the following three objectives:generating a channel profit of the coordination level,promoting brand goodwill to the level of the integrated channel,and creating an equitable channel relationship.