Is investor overconfidence a major source of stock‐market trading volume? This study refers to the work of Grossman and Odean, introduces the assumption of investor overconfidence and empirically examines the influence of investor overconfidence on market trading volume in China's A‐share market through a vector autoregressive model estimation and Granger causality test. We find that overconfidence and self‐attribution exist in China's A‐share market. When the market is on an upswing, investors attribute large returns to the accuracy of their private information and the quality of their investment abilities; thus they trade more frequently, causing trading volume to increase more quickly. Conversely, when the market is on a downswing, investors attribute their investment losses to uncontrollable external factors; thus they become unwilling to trade, causing trading volume to shrink rapidly.

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In the context of environmental sustainability and accelerated digital technology development, China attaches great importance to the prominent role of digital economy in addressing environmental degradation. Utilizing Chinese provincial panel data from 2011 to 2019, this study investigates whether the digital economy can improve China’s environmental sustainability proxy by reducing carbon emission intensity. Based on the fixed effects model, the findings reveal that the digital economy has a significant negative effect on carbon emission intensity and the conclusion remains robust after conducting several robustness checks. However, this impact shows regional heterogeneity, which is more effective in resource-based eastern regions and the Belt and Road provinces. Moreover, mediating effect analyses indicate that the transmission mechanisms are energy consumption structure, total factor energy productivity, and green technology innovation. Furthermore, the results based on the spatial Durbin model (SDM) demonstrate that digital economy development has a significant spatial spillover effect. Finally, on the basis of results analysis and discussion, policy recommendations are provided for achieving environmental sustainability.

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Northeast China is an old industrial base and agricultural production base with a long history of industrial and agricultural development. Since the beginning of the 21st century, the contradiction between economic and social development and resource depletion and environmental damage has become increasingly acute due to the long-term extensive development model. Based on a long time-series data set, this paper aims to explore the regional economic development model, environmental problems, and coordination degree between them in Northeast China. The results show that the population in Northeast China presents an increasing trend at first and then a decreasing one, and the population distribution shows an agglomeration in the cities of Harbin, Changchun, Shenyang, and Dalian. Urban-related land uses and GDP growth also exhibits agglomerations centered on these large cities. According to the changing trend of regional GDP and environmental investment, the synergistic relationship between the parameters is compared on a temporal scale, and a positive correlation between economic growth and environmental development is observed. We conclude that economic growth is closely correlated with environmental protection. If more attention is likely to be paid to environmental protection, the cities will develop more healthily under the background of urbanization. Based on the current status of the economy and environment, this paper puts forward constructive suggestions on promoting the coordinated development of regional economy and improving the ability of ecological environment governance. Improving the ecological environment’s overall improvement capability through approaches such as adjusting the industrial structure, promoting the use of clean energy, strengthening industrial pollution control, controlling pollutant emissions, and promoting the construction of regional environmental infrastructure are all critical issues that must be resolved quickly to achieve coordinated development.