The main purpose of this research is to examine the impact of board gender diversity and foreign institutional investors on the corporate social responsibility engagement of Chinese listed companies by considering a sample from the China Stock Market and Accounting Research (CSMAR) database of all non-financial firms listed on the Shanghai stock exchange and the Shenzhen stock exchange during the period from 2008–2015. The CSR is engaged by using the data from the CSMAR database at the firm level, and ranks the CSR disclosures of Chinese companies separately. The recent CSR promotion in China produced a visible increase in attracting female members on the board and members as foreign institutional investors by Chinese listed companies. The findings also showed that the greater the presence of female directors on the board, the stronger the CSR engagement would be. According to critical mass theory and team dynamics, these findings further broaden the accounts that emphasize social networks based on gender. Hence, female members on the board of directors emerged to be significant as a gender mix with extending CSR change. Therefore, our results added a new aspect to the emerging literature on CSR-engagement and gender especially in China. Due to intense political forces and networks in the Chinese listed entities, foreign institutional investors (FIIS) have less incentive to enhance CSR engagement further. Thus, the impact of foreign institutional investors on CSR engagement is as yet unknown, but we improved our knowledge about how the international aspects affect CSR in China. Furthermore, our results are robust, which concern control variables under consideration.

BACKGROUND: The COVID-19 epidemic not only cast a shadow on China’s economic development but also caused phased panic and anxiety among the Chinese population. At the stage when the spread of the epidemic is not completely controlled, the business activities will surely cause employees to worry and produce a work stress reaction. OBJECTIVE: This study explores the impact of psychosocial stress caused by the COVID-19 epidemic on the work stress of returned workers. Furthermore, we explore the boundary conditions for reducing work stress from the perspectives of perceived organizational support, perceived social support and epidemic awareness. METHODS: Data were collected within two weeks after the Chinese government announced the work resumption of industrial enterprises. During this period, 526 returned workers participated in the study. RESULTS: The results showed that the psychosocial stress caused by the epidemic had a positive impact on work stress. Both perceived organizational support and perceived that social support can alleviate the impact of psychosocial stress on work stress. The moderating effect of epidemic awareness was only established in non-severe epidemic areas. CONCLUSIONS: In the current period of the spread of the COVID-19 epidemic, the conclusions of this study have a certain theoretical significance and practical value.

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According to the data of financial technology and high-tech innovation level of 17 cities in the pilot area of China Independent Innovation Demonstration Zone (Shandong Province) from 2007 to 2017, and taking human capital as the threshold variable, this paper empirically analyzes the nonlinear influence of financial technology development on regional innovation capability under different absorptive capacity by constructing a panel threshold regression model. The results show that: (1) Taking human capital endowment as the threshold variable, the influence mechanism of financial technology development on regional innovation capability has an inverted S-shaped double threshold effect, that is, the driving effect of financial technology development on regional innovation capability has the “optimal range” of human capital absorption capability; (2) When the endowment of human capital is less than the first threshold, there is a significant negative relationship between financial technology and regional innovation capability, and in this case, financial technology development cannot promote the improvement of regional innovation capability; (3) When the human capital endowment crosses the first threshold, there is a significant positive relationship between the development of financial science and technology and the regional innovation capability, which indicates that only when the human capital endowment can better realize R&D learning, digestion and absorption can the development of financial science and technology achieve collaborative innovation and enhance the regional innovation capability; (4) After the endowment of human capital crosses the second threshold, although there is still a positive relationship between the development of financial technology and regional innovation capability, the driving effect of financial technology has a diminishing marginal effect, which shows that the scale of technology and finance should match with human capital, and unlimited expansion of human capital investment will also lead to the imbalance of the allocation of innovation elements and reduce the efficiency of regional innovation. Based on the empirical analysis results, the paper finally puts forward policy suggestions from the aspects of differentiated development strategy, innovative talent incentive policy, and the construction of financial technology leading center.

Purpose The purpose of this paper is to empirically analyze the investment and pension functions of housing reverse mortgages (HRM) with redemption option and raise the participation initiative of the Chinese elderly for the HRM model and enhance their cognition of this financial product. Design/methodology/approach Based on the perspective of the financial decisions of the elderly, this study designs an analysis model of the economic validity of HRM, and takes Shanghai (a pilot city for HRM loans in China) as an example, using data from the Shanghai real-estate index and market interest rates from January 1998 to December 2018, as well as the contract data of HRM, for empirical analysis. Findings The results show that the HRM with redemption option has the characteristics of European call option and can obtain the value of implicit option from the perspective of the elderly. Considering the present value of the accumulated pension income, the present value of the redemption option and the present value of the final housing value, the elderly can obtain investment income from HRM with redemption option. Therefore, for Chinese seniors, the HRM with redemption option has economic validity. Research limitations/implications From the perspective of the demand of the elderly, participation in the HRM with redemption option can increase the life expectancy annuity for various pension expenditures and improve economic status while meeting the demand of inheritance motivation. Practical implications This study helps to clarify the financial decision-making process for elderly people who participate in HRM. On the one hand, it helps policy makers to optimize the implementation mode of HRM and promote the healthy and rapid development of HRM; on the other hand, it is conducive to raising the awareness of Chinese elderly people on this financial products and enhancing their enthusiasm for participating in HRM. Originality/value Few studies have directly analyzed the financial decision process of the HRM model from the perspective of the demand of the elderly. This study enriches the research viewpoint and method of HRM and accumulates data about the Chinese experience with HRM.