The carbon-labeling system is able to quantify the level of greenhouse gas emissions of goods throughout their life cycle, including production, delivery, and consumption. With the proposal of carbon peak and carbon neutrality goals, the carbon-labeling system has an inevitable impact on production by companies and the purchase behavior of consumers. This paper constructs a theoretical model of the influencing mechanism on consumer willingness to purchase carbon-labeled products by utilizing the theory of consumption values. Through a survey and analysis of a sample of 347 Chinese university students, a regression analysis is applied to explore their willingness to consume carbon-labeled products and the corresponding influencing factors. The results show that (1) despite relatively low public awareness of the carbon-labeling system, the willingness to purchase carbon-labeled products is strong; (2) functional value, emotional value, and epistemic value can positively influence customer willingness to purchase carbon-labelled products; and (3) there is a significant difference in the willingness to purchase carbon-labelled products in terms of age and no significant difference in terms of gender, income, occupation, and education level. Based on the findings, some recommendations are made to help companies adopt appropriate strategies to trigger consumers’ purchase intentions and gain a market advantage in carbon-labeling scenarios.

Improvement of green total factor productivity (GTFP) through environmental regulation is of great practical significance in promoting the high-quality development of urban economies. Based on panel data for 163 cities in China from 2003 to 2016, five indicators were selected to quantify the effects of environmental regulation: the SO2 removal rate, smoke and dust removal rate, solid waste utilization rate, domestic sewage treatment rate, and waste harmless treatment rate. This study evaluated the impact of environmental regulation on urban GTFP, and analyzed the threshold effect of urban economic development levels. The research results showed that the impact of environmental regulations on GTFP changed as the level of urban economic development increases. When the economic development level was low, environmental regulation had a significant positive effect on GTFP, especially the SO2 removal rate. When the economy developed to reach a medium level, the impact of environmental regulation on GTFP was negative. When the economic development level was high, the SO2 removal rate still had a significant positive impact on GTFP. The solid waste utilization rate had a significant negative impact on GTFP. It was concluded that the government should consider the local economic development level when formulating environmental regulation policies.

The COVID-19 pandemic has dealt a considerable blow to the development of Chinese enterprises. Therefore, exploring how to reduce the enterprise financial risk under the impact of the COVID-19 has become a current research hotspot. We select the data of 3,098 A-share companies in the quarters of 2019 and 2020, use the Z-score model to reasonably evaluate enterprise financial risk, and analyze the impact of Research and Development (R&D) investment on enterprise financial risk under the COVID-19.The results show that: ① The COVID-19 pandemic has increased the number of high-risk enterprises. ② R&D investment can effectively reduce the enterprise financial risk, and enterprises that attach importance to scientific research are relatively less affected by the COVID-19. ③ Compared with non-state-owned enterprises, R&D investment under state-owned enterprises can better help enterprises reduce financial risk. ④ When the enterprise financial risk is lower, the role of R&D investment in reducing financial risk is more significant. With the increase of financial risk, the effect of R&D investment on it is weakened. The research results are beneficial to help enterprises to correctly assess their financial risks during the COVID-19, so that enterprises can reasonably invest in research and development, and ultimately ensure the sustainable development of enterprises under the COVID-19.

Based on the perspective of urban agglomerations, this paper explores the impact mechanism of environmental regulation on haze, and tries to find the most suitable environmental regulation intensity for haze control in urban agglomerations. This paper uses the fixed-effect model and panel threshold model to verify the effect of environmental regulations on haze concentration in 206 cities in China. A grouping test is also conducted to verify whether a regional heterogeneity arises due to different regional development levels for five urban agglomerations and non-five urban agglomerations, respectively. The results show that: (1) In the linear model, strengthening environmental regulation can reduce the haze concentration, but this effect is not significant. The effect of environmental regulation on haze control in the five major urban agglomerations is better than that in the non-five major urban agglomerations; (2) In the nonlinear model, the impact of environmental regulation on haze shows a “U” trend in the five major urban agglomerations and an inverted “U” trend in the non-five major urban agglomerations. Although the results are not significant, we can still conclude that the impact of environmental regulation on haze varies depending on the level of regional economic development. Therefore, the environmental regulation should be formulated according to local conditions; (3) In the threshold model, the impact of environmental regulation on the haze concentration in five major urban agglomerations has a threshold effect. In the five major urban agglomerations, although environmental regulation can effectively reduce haze concentration, the governance effect will weaken as the environmental regulation increases. This study plays a positive role in guiding local governments to adjust environmental regulation intensity according to local conditions and helping local environmental improvement.