As public concern for environmental protection grows, firms' attention on pollution governance is increasing, making green investment the optimal avenue for businesses to address this issue. By matching the data on power shortage risks at the urban level and Chinese listed firms, this study explores the impact of firms' pollution attributes on green investment. It examines the moderating effect of power shortage risks. The results indicate that the heavy pollution attributes have a significant positive impact on firms' green investments. The moderating role of power shortage risk is manifested in nonplanned power shortages, exhibiting a significant inhibitory effect on the main effect. The conclusion still holds after accounting for robustness and endogeneity tests. This study also identified heterogeneous moderating impacts of regional environmental governance, firm management involvement, and firm ownership property on the main effect. This study provides essential insights for formulating green investment

Numerous market phenomena show that social media can have an impact on investor behavior, but there is a lack of exploration in existing literature regarding the impact mechanism of social media on fund investment behavior and performance. This paper studies the impact of social media attention on fund net capital flow and fund performance, and further examines how it affects the relationship between fund net capital flow and fund rally. Fixed-effect model of fund-time two-way fixed effects is employed and the following main conclusions are drawn: firstly, a fund's social media attention has a significant positive impact on the fund net capital flow; in large-scale funds, positive (negative) media attention has a positive (negative) impact on the fund net capital flow, and the impact of positive emotions on the fund net capital flow is greater than that of negative emotions. Secondly, fund net capital flow will have a positive impact on fund performance in the short term. Thirdly, social media attention may s

Introduction Problematic use of short-form video applications (SVA) has posed significant challenges to individuals' wellbeing in recent years. This study examines how parasocial interaction-a one-sided and imagined emotional engagement with vloggers-contributes to problematic SVA use.Methods Based on the socio-psychological perspective and informed by the positive reinforcement and compensatory use approaches, the research explores how flow experience and fear of missing out mediate this association. An online survey was conducted among SVA users (N = 407). The collected dataset was analyzed using SPSS PROCESS Macro model 6 to test a serial mediation model.Results Results support the mediation model, indicating that the reinforcement of positive feelings and the compensatory motivation for alleviating negative emotions jointly lead to the problematic behaviors.Discussion The findings offer valuable insights into the socio-psychological processes underlying problematic SVA use and suggest potential interventi

In most countries, both firms and households face borrowing constraints. Based on this fact, the paper builds a dynamic general equilibrium model with borrowing constraints on both households and firms. The model implies that the relationship between financial development and the saving rate is non-monotonic. The paper also provides some empirical evidence that supports this prediction. This non-monotonic relationship has several important implications.