RETRACTED ARTICLE: The impact of capital market opening on stock market stability: based on D-MST method complex network perspective

Yan, Yanyang; Wen, Quan

doi:10.1007/s10479-021-04289-5

Cited by 4 publications

(3 citation statements)

References 21 publications

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“…China's capital market has become an integral part of the economic system and aims to building an international financial center (Li and Xu 2022). At the same time, China's capital market needs to consolidate the "barometer" function of economic development unremittingly, continue to deepen two-way opening, effectively enhance the level of capital market opening and steadily improve the multi-level capital market system (Yan and Qi, 2021). The regulatory history of ESG disclosure in China's capital market can be roughly divided into three stages (Akbar et al 2021;, namely the voluntary disclosure before 2008, a combined voluntary and mandatory disclosure from 2008 to 2015, and the mandatory disclosure from 2015 to the present.…”

Section: Esg Disclosure Regulation For Listed Companies In Chinamentioning

confidence: 99%

Does Green Finance Policy Contribute to ESG Disclosure of Listed Companies? A Quasi-natural Experiment from China

Zhang

et al. 2023

Preprint

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Based on institutional theory, legitimacy theory and signaling theory, this article uses the difference-in-differences (DID) model to investigate the influence of the Guidance on Building a Green Financial System jointly issued by the People’s Bank of China (PBC) and six other ministries on ESG disclosure of A-share listed companies in the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE) from 2014 to 2018. The results suggest that the publication of the Guidance positively contributes to the ESG disclosure quality (ESGdq) of listed companies. Further analysis shows that the positive effect of the Guidance on ESGdq is greater for listed companies in heavily polluting industries, state-owned and in regions with higher levels of economic development. Conclusions obtained through our research enrich the economic consequences of green finance policy, provide practical implications for enhancing corporate ESG disclosure, integrating ESG concepts into corporate strategies and governance systems.

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Section: Esg Disclosure Regulation For Listed Companies In Chinamentioning

confidence: 99%

Does Green Finance Policy Contribute to ESG Disclosure of Listed Companies? A Quasi-natural Experiment from China

Zhang

et al. 2023

Preprint

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“…With the SSE, SZSE, and Beijing Stock Exchange (BSE) presently (Kathiravan et al, 2021), China's capital market, which established in 1990, has made tremendous development over the past 30 years, is moving towards the goal of building an international financial center (Ho et al, 2022). However, China's capital market needs to consolidate the "barometer" function of economic development unremittingly, continue to enhance opening level, and steadily improve multi-level capital market system (Yan and Qi, 2021). The regulatory history of CSR and environmental information disclosure in China's capital market can be roughly divided into three stages (Akbar et al, 2021;Huang et al, 2021) (Han et al, 2019), which required companies listed on the SSE Corporate Governance Index, companies issuing overseas-listed foreign shares, and financial companies to disclose CSR reports, and required listed companies included in the SZSE 100 Index to disclose CSR reports, and encourages other companies to disclose CSR reports.…”

Section: Institutional Backgroundmentioning

confidence: 99%

Corporate social responsibility regulation in capital market and environmental information disclosure of listed companies: A quasi-natural experiment from China

Zhang

et al. 2022

Front. Environ. Sci.

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Based on a quasi-natural experiment generated by the Shenzhen Stock Exchange (SZSE) of China, which issued the Guidance for Social Responsibility of Listed Companies (referred to as Guidance) in 2006, this paper utilizes a panel dataset of A-share listed companies at Shanghai Stock Exchange (SSE) and SZSE from 2004 to 2008, and employ difference-in-differences (DID) method to investigate impact of the Guidance on environmental information disclosure quality (Eidq) of listed companies. The finding shows that exchange’s corporate social responsibility (CSR) regulation contributes to improving the Eidq of listed companies. Furthermore, policy effects of the Guidance are more significant in eastern region, heavily polluting industries and state-owned enterprises (SOEs). This study provides theoretical evidence and policy implications for the “two-wheel drive” of China’s stock market regulation and social supervision, and for the construction of an environmental information disclosure system that is more targeted in terms of region, industry and property rights, and that effectively promotes fulfillment of environmental governance responsibility by listed companies and guides their sustainable development actions.

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“…Complex networks tools can be significant in revealing complex systems’ underlying structure and organization, which can be evaluated with quantitative measures. This explains the popularity of complex networks for modelling purposes in contexts like social network(Borgatti & Everett, 2006 ; Scott & Carrington, 2011 ), but also significantly in finance(Bastidon & Parent, 2022 ; Boginski et al, 2006 ; Cerqueti et al, 2021 , 2022 ; Cinelli et al, 2021 ; Yan & Qi, 2021 ; Zhu et al, 2018 ), or healthcare and physiology (Butenko & Wilhelm, 2006 ; Vieira et al, 2010 ) and even for the understanding of the historical patterns (Pablo-Martí et al, 2021 ).…”

Section: Introductionmentioning

confidence: 99%

Clustering networked funded European research activities through rank-size laws

2023

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This paper treats a well-established public evaluation problem, which is the analysis of the funded research projects. We specifically deal with the collection of the research actions funded by the European Union over the 7th Framework Programme for Research and Technological Development and Horizon 2020. The reference period is 2007–2020. The study is developed through three methodological steps. First, we consider the networked scientific institutions by stating a link between two organizations when they are partners in the same funded project. In doing so, we build yearly complex networks. We compute four nodal centrality measures with relevant, informative content for each of them. Second, we implement a rank-size procedure on each network and each centrality measure by testing four meaningful classes of parametric curves to fit the ranked data. At the end of such a step, we derive the best fit curve and the calibrated parameters. Third, we perform a clustering procedure based on the best-fit curves of the ranked data for identifying regularities and deviations among years of research and scientific institutions. The joint employment of the three methodological approaches allows a clear view of the research activity in Europe in recent years.

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RETRACTED ARTICLE: The impact of capital market opening on stock market stability: based on D-MST method complex network perspective

Cited by 4 publications

References 21 publications

Does Green Finance Policy Contribute to ESG Disclosure of Listed Companies? A Quasi-natural Experiment from China

Does Green Finance Policy Contribute to ESG Disclosure of Listed Companies? A Quasi-natural Experiment from China

Corporate social responsibility regulation in capital market and environmental information disclosure of listed companies: A quasi-natural experiment from China

Clustering networked funded European research activities through rank-size laws

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