Extant studies on private regulation have not reached a sufficient understanding about the interplay between private and public regulations, due to underdeveloped theoretical framework and the lack of large-sample empirical investigations. Leveraging ISO 14001 adoption among Chinese firms as the research context, the current research draws on the institutional theory to examine how firm’s adoption of ISO 14001 standard, as a specific form of private regulation, affects the incidence of public environmental inspections. To test our arguments, we conduct two empirical (...) studies. Study 1 uses the first-hand data of a corporate social responsibility survey on Chinese manufacturing firms, whereas Study 2 deploys the second-hand longitudinal archival data of the government environmental inspections on Chinese listed firms. Both of the two studies reveal consistent findings that ISO 14001 adoption decreases the incidence of government environmental inspections, and that the effect of ISO 14001 adoption becomes stronger in state-owned enterprises and firms with top management team’s political ties. Our findings are suggestive of a complementary relationship between private and public regulations, in a sense that private regulations can compensate for the weaknesses of public regulations by offering faster, more flexible and cost-efficient means of enforcement, which allows the public authorities to economize on the deployment of public resources to monitor the rest non-compliant firms. (shrink)

Since the outbreak of the global financial crisis in 2008, the exchange rate between China and USA has drawn a lot of attention. Because of the balance of payments surplus, China has accumulated a large amount of foreign exchange reserves, and there is much pressure on the Renminbi (RMB) to appreciate. The appreciation of RMB has raised a series of intertwining economic and ethical concerns in China. This paper is an inter-disciplinary study to illustrate the inter-relationship between economics and ethics. (...) We analyze the major economic factors affecting the trend of exchange rate of RMB and the effects of its appreciation. We then discuss the ethical implications of the appreciation and conclude with some policy suggestions to address the economic and the ethical concerns. (shrink)

The digital transformation of the innovation ecosystem is not only an inevitable direction of innovation activities in the era of digital economy but also a highly complex and uncertain process. The way to facilitate transformation with policies has become a topic of common concern of academia and policymakers. This paper builds a multiagent model and studies the impacts of supply-side policies, demand-side policies, and environmental policies on enterprises’ transformation willingness, digital level, and income level as well as the proportion of (...) enterprises that carry out transformation in the whole innovation ecosystem and innovation network structure by numerical experiments. According to research findings, supply-side policies play the biggest role in the facilitation of transformation, demand-side policies are second important to them, and environmental policies have comparatively weak impacts. (shrink)

As heritage is the precious treasure of human society, heritage also carries the genes of culture. It is of vital importance to effectively develop heritage tourism resources and explore the mechanisms that influence tourists’ cultural identity. This study has integrated the stimulus-organism-response framework with the attitude-behavior-context theory to construct a hypothetical model of heritage tourism aesthetics, tourist involvement, mental experience, and cultural identity so as to figure out their relationships. The questionnaires were collected to investigate the impact paths and mechanisms (...) between heritage aesthetics, tourist involvement, mental experience, and cultural identity. The structural equation model was used to examine the relationship between heritage tourism aesthetics, tourist involvement, mental experience, and cultural identity. The main findings include: the positive impact of aesthetics driving mental experience and cultural identity is significant; the impact of tourist involvement on mental experience and cultural identity is also significant; the impact of aesthetics on cultural identity is not significant, but mental experience mediates the relationship between aesthetics and cultural identity in heritage tourism. This study provides a new research framework and perspective for the aesthetics, tourist involvement, mental experience, and cultural identity of tourists in heritage tourism. This study also provides practical implications for government culture sectors to propagandize culture and for heritage destination managers to better manage heritage sites. (shrink)