Family firms not only play an important role in economic growth but should also be held partly responsible for environmental degradation. Employing normative stakeholder theory and analyzing unique Chinese survey data via stepwise regression models, our findings indicate that second-generation successors did not significantly impact family firms' environmental investment. However, among second-generation successors, we find that successors with international experience positively impacted environmental investment. The propensity score matching (PSM) and two-stage least squares estimation (2SLS) approaches confirm our results. As an (...) interdisciplinary study, our research is of great value to the environmental responsibility and family business literature. (shrink)

In this paper, we investigate the dynamics of autonomous and nonautonomous stochastic toxin-producing phytoplankton–zooplankton system. For the autonomous system, we establish the sufficient conditions for the existence of the globally positive solution as well as the solution of population extinction and persistence in the mean. Furthermore, by constructing some suitable Lyapunov functions, we also prove that there exists a single stationary distribution which is ergodic, what is more important is that Lyapunov function does not depend on existence and stability of (...) equilibrium. For the nonautonomous periodic system, we prove that there exists at least one nontrivial positive periodic solution according to the theory of Khasminskii. Finally, some numerical simulations are introduced to illustrate our theoretical results. The results show that weaker white noise and/or toxicity will strengthen the stability of system, while stronger white noise and/or toxicity will result in the extinction of one or two populations. (shrink)