Do the carbon trading policy and low-carbon city policy, as two typical carbon emissions reduction pilot policies, have a policy overlay effect on reducing pollution and carbon emissions? The multi-period difference-in-differences (DID) model was used to explore the policy effect of carbon emissions reduction policies on reducing pollution and carbon emissions from the perspectives of policy synergy and target synergy, basing on the panel data of 279 cities in China from 2006 to 2020. The results show that the dual pilot policy has an obvious synergistic effect on reducing pollution and carbon emissions. The longer the policy is implemented, the stronger the emissions reduction effect is. The dual pilot policy reduces pollution and carbon emissions by the innovation effect and source reduction effect. The implementation of dual pilot policy in western regions, non-resource-based cities, non-old industrial bases and developed cities has achieved better effect on reducing pollution and carbon emissions. Both single pilot policies can promote to reduce pollution and carbon emissions. Comparison between two policies, the carbon trading policy plays better effect on carbon emissions reduction, and the low carbon city pilot policy plays better effect on pollution reduction. The double pilot policy is more effective than the single pilot policy in reducing pollution and carbon. The double pilot cities that first becomes the low carbon city pilot and then implements the carbon trading policy have stronger effect on reducing pollution and carbon. It provides a reference for implementing carbon emissions reduction policies.

The construction of high-standard cropland can improve the quality of arable land, which is a strategic base for guaranteeing national food security. Based on the quasi-natural experiment of the high-standard cropland construction policy, the effect of high-standard cropland construction policy on the decision-making of grain cultivation on farmland was examined by adopting the continuous difference-in-differences method. The result shows that the high-standard cropland construction policy significantly increases the the proportion of grain sown area and produces a "grain-oriented" effect. The conclusion still holds after a series of robustness tests. The dynamic effect analysis reveals that as the construction of high-standard cropland continues, its effect of promoting the "grain-oriented" effect on cropland continues to increase. Heterogeneity analysis shows that the high-standard cropland construction policy is more effective in promoting the "grain-oriented" cultivated land in plain areas, higher agricultural dependent areas, and larger cultivated land areas. Mechanism analysis indicates that the high-standard cropland construction policy influences the "grain-oriented" cultivated land by land scaling, service scaling and technological progress. Further research illustrates that the development of cooperatives and agricultural credit investment can strengthen the promotion effect of the high-standard cropland construction policy on the "grain-oriented" cultivation of arable land.

Innovation is crucial for achieving high-level self-reliance and accelerating the development of new productive forces in the latest development stage. However, due to the high risk and long-term nature of innovation, not all managers, as the leaders of enterprises, can maintain the persistence required for innovation. There is limited research systematically revealing how managerial myopia affects ambidextrous innovation in enterprises. Based on the upper echelons theory and from the perspective of ambidextrous innovation, a panel dataset of 2139 A-share listed manufacturing companies in China from 2007 to 2020 was constructed. Analysis techniques were used to build an index of managerial myopia. The impact of intrinsic managerial myopia on the performance of exploratory and exploitative innovation is investigated empirically. Additionally, the mediating role of ambidextrous innovation investment and the contingent influence of managerial incentives on this process were analyzed. The empirical results demonstrated that managerial myopia significantly negatively impacts the performance of both exploratory and exploitative innovation. Managerial myopia inhibits the investment in exploratory and exploitative innovation, thereby suppressing the output of ambidextrous innovation performance. Equity incentives mitigate the negative impact of managerial myopia on ambidextrous innovation performance, while compensation incentives amplify the negative impact of managerial myopia on exploratory innovation performance and mitigate the negative impact on exploitative innovation performance. The findings of the research extend the analysis of the behavioral consequences and mechanisms of managerial myopia on enterprise innovation. It would provide important theoretical and practical implications for further optimizing enterprise innovation governance mechanisms, incentivizing and guiding enterprises to enhance their independent innovation capabilities, and thereby accelerating the formation and development of new productive forces.

Digital technology innovation is the technical support for the development of the digital industry and has an important impact on economic and social development in the digital era. International Patent Classification (IPC) at the level of subgroups was used to construct the quantity and quality of digital technology innovation. Based on this, the Outline of National Informatization Development Strategy issued by the Central Committee of the Communist Party of China and the State Council which is the most representative national digital industry policy was taken as the entry point. The panel data of China's listed companies from 2011 to 2020 was used to empirically test the relationship between digital industry policy and enterprise digital technology innovation. The results are as follows. The national digital industry policy has a significant effect on the quantity and quality of digital technology innovation of micro-entities. Heterogeneity test results show that the above enhancement effect is only established in private enterprises, large-scale enterprises and high-tech enterprises. The mechanism test shows that easing financing constraints, relaxing industry access and promoting enterprise digital technology investment are the three channels which national policy incentive affect digital technology innovation. It is helpful for the government to formulate reasonable policies to encourage enterprise digital technology.

ESG is an important breakthrough in the process of moving towards sustainable development and promoting high-quality development at the micro enterprise level, which is also an important realization way to promote the sustainable development of the capital market. A reasonable assessment of the innovation value effect of ESG is of great significance for accelerating the construction of a scientific and technological powerhouse at the new development stage. Grounded in the data of A-share listed companies in Shanghai and Shenzhen from 2012 to 2021, the empirical results using the individual fixed effect model show that, firstly, corporate ESG performance can strengthen corporate innovation efficiency and possess the efficiency improvement effect of corporate innovation, and the conclusion of the study still holds after a series of robustness tests and consideration of endogeneity issues. Second, corporate ESG performance improves corporate innovation efficiency through the triple mechanism of strengthening corporate R&D investment, alleviating corporate financing constraints, and reducing corporate agency costs, and it improves corporate innovation efficiency through R&D incentives and cost-saving effects. Third, there is heterogeneity in the improvement effect of corporate ESG on corporate innovation efficiency, which is more obvious in the sample enterprises with higher degree of marketization, private enterprises and overseas executives. The findings provide empirical references for the optimization of innovation resource allocation based on ESG strategic change in the new development stage.

Government data openness will have a significant impact on promoting green economic innovation activities. Investigating the mechanism of how government data openness affects urban green innovation efficiency is of crucial significance for accurately understanding their relationship, promoting efficiency in facilitating green economic development. Using panel data from 286 prefecture-level cities from 2011 to 2021, a multi-period double-difference model was employed to explore the impact of government data openness on urban green innovation efficiency. Government data openness effectively enhances urban green innovation efficiency. The results show that open government data can effectively enhance the efficiency of urban green innovation, and the impact is mainly realized through three paths: promoting talent concentration, stimulating innovation and entrepreneurship, and optimizing the regulatory environment. Heterogeneity analysis shows that the effect of open government data on urban green innovation efficiency is stronger in cities in central and western China, with high public concern for environmental protection and high levels of network infrastructure. Extended research finds that open government data can realize the "quantitative and qualitative increase" of green innovation, and that improving the quality of open government data platforms can strengthen its green innovation effect. In addition, this effect is also verified at the micro-firm level. The article provides useful insights for promoting high-quality open government data and green innovation in cities, and provides empirical references for exploring policy design that meets the development requirements of new quality productivity.

Deeply cultivating the fertile ground of data elements marketization to release the value of data elements and help banks' digital transformation, which is a key initiative to make a great article of digital finance and to fully exert the financial blood supply function. Based on the panel data of 284 prefecture-level cities from 2010 to 2021, the impact of data element marketization on the banks' digital transformation was deeply explored. The results show that data elements marketization helps to promote banks' digital transformation, while this impact exhibits significant heterogeneous characteristics in terms of city capacity, financial resilience and business credit environment. Mechanism analysis reveals that resource allocation efficiency is the channel through which data elements marketization promotes banks' digital transformation, and fintech and banking competition play a positive moderating effect in the process of data elements marketization empowering banks' digital transformation. The economic consequence test finds that the facilitating effect of data elements marketization on banks' digital transformation can further act on the development of the real economy. Theoretical and practical references are provided for the implementation path of banks' digital transformation.

Under the wave of digital economy, China's banking industry is accelerating the pace of digital transformation. So how will digital transformation affect the profitability of China's banking sector? Based on the digital transformation panel data of Chinese listed commercial banks, the impact of digital transformation on the profitability of commercial banks was examined. The results show that under the severe situation of banks' profitability space being continuously compressed, carrying out digital transformation can significantly reduce banks' operating costs, improve the degree of bank diversification and operational efficiency, and then improve their profitability. At the same time, the impact of digital transformation on bank profitability is characterized by structural heterogeneity. The effect of digital transformation on the profitability of large-scale banks is more obvious. Big data technology transformation has a greater impact on bank profitability, followed closely by blockchain, artificial intelligence and cloud computing technology. Further research finds that a rise in both bank innovation ability and industry concentration undermines the promotion effect of digital transformation on bank profitability. It can provide useful lessons to better drive banks' digital transformation and improve their profitability.

The "streamlining administration, delegating powers, and improving services" reform is considered a crucial measure for easing the burden on enterprises, stimulating their innovation vitality, and promoting their development. However, research on its impact on the sustained innovation of enterprises is lacking in the academic community. The impact and internal mechanisms of the "streamlining administration, delegating powers, and improving services" reform on the sustained innovation of small and medium-sized enterprises were theoretically constructed and empirically tested using 441 domestic enterprises as subjects. The results demonstrate that the "streamlining administration, delegating powers, and improving services" reform and its three dimensions-streamlining administration and delegating powers, government regulation, and public services are positively influencing the resource assembly and sustained innovation of small and medium-sized enterprises. Among these, the promotion of public services to sustained innovation is more significant, and the role of government regulation in promoting resource assembly is more pronounced. Resource assembly is found to partially mediate the relationship between the "streamlining administration, delegating powers, and improving services" reform and the sustained innovation of small and medium-sized enterprises. The mediating effect of exploratory resource assembly is more significant than that of exploitative resource assembly. Further analysis indicates that the effects of the "streamlining administration, delegating powers, and improving services" reform differ markedly among enterprises in various industries, years, and regions. Theoretical contributions and practical insights are condensed based on these findings.

The rapid development of digital technology has eased the pressure on manufacturing. In order to prove that industrial intelligence can solve the problem of excess capacity of enterprises, the data of manufacturing enterprises listed on Shanghai and Shenzhen A-shares from 2011 to 2019 were used to study the impact of industrial intelligence on capacity utilization. The research results show that industrial intelligence can significantly improve the capacity utilization rate of enterprises, and the impact of industrial intelligence on capacity utilization of enterprises is still confirmed by using the "WinGo similar word database" to improve the measurement range of industrial intelligence indicators. Industrial intelligence can promote the improvement of the capacity utilization rate of enterprises by improving the efficiency of resource allocation, increasing the input of human capital elements and increasing the export demand of enterprises, and has a greater impact on non-state-owned enterprises, western regions, non-high-tech enterprises and technology-intensive enterprises.