Population sorting and human capital accumulation

Azarnert, Leonid V.

doi:10.1093/oep/gpac035

Cited by 9 publications

(6 citation statements)

References 112 publications

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“…Future research is needed to determine its applicability beyond the U.S. manufacturing sector. Furthermore, researching how KC correlates with the effects of general human capital, broadly argued as a key component of modern economic growth (Azarnert 2023), can enhance our understanding of intangible capital. Additionally, further study is needed to ascertain whether the effects of KC analyzed during GFC and COVID-19 are universally applicable by examining other economic crisis periods.…”

Section: Discussionmentioning

confidence: 99%

Knowledge Capital and Stock Returns during Crises in the Manufacturing Sector: Moderating Role of Market Share, Tobin’s Q, and Cash Holdings

Lee,

Atukeren,

Kim

2024

Risks

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This study analyzes the impact of knowledge capital (KC), a key element of firms’ innovation and competitiveness, on stock returns during economic crises when sustainable competitiveness becomes particularly important. We analyze the impact of the Global Financial Crisis and COVID-19 as economic crises, focusing on manufacturing industries with a high proportion of investment shifts from physical capital to KC. Our findings indicate that KC is positively associated with stock returns during the Global Financial Crisis and COVID-19. This positive relationship is strengthened by the firm’s ability to leverage KC, as measured by greater product market share, higher Tobin’s Q, and larger cash holdings. This study emphasizes the protective role of KC during the economic crisis when the market pays more attention to corporate sustainability and provides implications to corporate managers and investors.

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Section: Discussionmentioning

confidence: 99%

Knowledge Capital and Stock Returns during Crises in the Manufacturing Sector: Moderating Role of Market Share, Tobin’s Q, and Cash Holdings

Lee,

Atukeren,

Kim

2024

Risks

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“…The use of AI, large-scale information, blockchain, online computing, fingerprints, and various other modern technologies allow financial services to precisely identify a firm's attributes [16], due to the influence of environmental rules, banks are now placing more emphasis on the environmental advantages of firms, strengthening the financial support for enterprises in the field of green, to lessen the pollution of the land element, and offering finance options for businesses engaged with ecology and natural management while limiting the funding of heavily polluting companies [36] in order to enhance land use efficiency and minimize carbon emissions during land use, achieving sustainable use of land resources. In addition, it also can reduce the scope of the general congestion diseconomies, thereby improving the quality of life and positively affecting economic growth [37,38].…”

Section: Influencing the Effectiveness Of Green Urban Area Use: A The...mentioning

confidence: 99%

The Impact of Digital Finance on the Green Utilization Efficiency of Urban Land: Evidence from 281 Cities in China

Zhang,

Sun

2024

Sustainability

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In the era of digital economy, digital finance, as an innovative financial model, plays an important role in driving urban industrial transformation and development, technological innovation, industrial upgrading and sustainable utilization of energy, and has a significant impact on sustainable urban development. At present, in the process of building a new pattern of Chinese-style modernization in China, it is of great significance to improve the green use efficiency of urban land through digital finance and realize the sustainable use of land resources and the sustainable development of the city. The current study employed 281 Chinese cities from 2010 to 2020 as research samples to investigate the effects of technological financing on the productivity of city land green usage. Based on the ideas of responsible growth and efficient urban development, an assessment index system was developed. Comprehensive empirical tests, such as the Super-SBM model, fixed effect model, and mediation effect model, were implemented in the research. The study’s findings indicate that: (1) Throughout the research period, the benchmark model’s regression outcomes demonstrate that digital banking impacts urban land’s green development efficiency, with positive moderating effects offered by environmental legislation; the optimization of industrial structure has not yet played a positive regulating effect. (2) Urban area green usage performance is more clearly impacted by the extent of use and the degree of digitization, according to the regression results of digital financing heterogeneity. The positive effect of online financial services on a city’s green use efficiency occurs mainly in eastern cities and southern cities, given the results of urban development level difference. In light of resource endowment unpredictability, “non-resource cities” stand to gain more from global finance’s encouragement of resource-efficient urban land use than do “resource cities”. The results of the mechanism test indicate that there is a strong mediating influence from digital finance, city land environmental use productivity, and green technological breakthroughs. In consideration of these results, the following measures are suggested in this paper: (1) Persist in advocating for the transformation of traditional finance into online financing. (2) Intensify the impact of significant variables on the environmentally friendly use of urban areas. (3) Encourage technology creativity and execution through the application of technological economics.

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“…Wang et al (2015) argued that many problems have emerged during the development of China's urbanization and new urbanization has not been effective in mitigating big city disease [18]. In the general context, Azarnert (2019) considers the effect of congestion diseconomies in more urbanized areas, while Azarnert (2023) suggests that some net immigration of the lower-skilled individuals from the more densely populated cities to the periphery may be considered as a growth-enhancing strategy [19,20]. There is also part of the literature that explores the core influencing factors of new urbanization from five perspectives: economic foundation, technological innovation, government guidance, industrial structure and foreign trade, using Guangdong Province as a starting point [21].…”

Section: Literature Reviewmentioning

confidence: 99%

Does New Urbanization Support the Rural Inclusive Green Development under Domestic Circulation in China?

Hua,

Zhang,

Ding

et al. 2024

Sustainability

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New urbanization is an endogenous driving force to enhance domestic circulation. Driving the development of rural industries with urbanization to achieve interactive symbiosis has become an important topic to promote the coordinated development of urban and rural green. Based on the panel data of 30 provinces in China from 2009 to 2021, this paper constructs an evaluation index system for new urbanization and rural inclusive green development, and uses principal component analysis and panel regression model to analyze the impact of new-type urbanization on inclusive green development in rural areas. The results of the study show the following: (1) Rural inclusive green development and new urbanization have been significantly improved during the study period, but there are significant regional differences. (2) The construction of the new urbanization significantly promotes rural inclusive green development, but there is significant spatial heterogeneity. This effect is more significant in the Eastern and Central regions. (3) Population urbanization, land urbanization, social urbanization, and environmental urbanization can effectively promote rural inclusive green development, but economic urbanization will have a negative impact on green development in the countryside during the study period. Therefore, it is necessary to further strengthen the leading role of central cities and urban agglomerations, to promote the countryside with the city and at the same time to combat environmental pollution and to create ecologically livable towns and villages. In addition, the government should strengthen top-level design, provide industrial support to backward areas, improve the spatial layout of urbanization, and promote the deepening of new urbanization.

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Population sorting and human capital accumulation

Cited by 9 publications

References 112 publications

Knowledge Capital and Stock Returns during Crises in the Manufacturing Sector: Moderating Role of Market Share, Tobin’s Q, and Cash Holdings

Knowledge Capital and Stock Returns during Crises in the Manufacturing Sector: Moderating Role of Market Share, Tobin’s Q, and Cash Holdings

The Impact of Digital Finance on the Green Utilization Efficiency of Urban Land: Evidence from 281 Cities in China

Does New Urbanization Support the Rural Inclusive Green Development under Domestic Circulation in China?

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