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China's stock market, which serves as an example of emerging markets, is steadily maturing in the context of globalization. In order to analyze the pricing mechanism of China's stock market, this paper builds a six-factor model to address the market features that are structurally efficient but not entirely efficient.

This study updates the Fama–French factor model's construction process to account for the unique features of China's stock market before creating a model that incorporates size, volume, value, profitability, and profit-income factors based on institutional investors' trading behavior and research preferences. The SWS three-tier sector stock index's monthly and quarterly data for the years 2016–2021 are used as samples for this study.

The results imply that China's stock market is structurally efficient and exhibits high levels of rationality in the region dominated by institutional investors. Specifically, big-size and high-volume portfolios that perform well in terms of liquidity can receive trading premiums. Growth-style sectors prevail at present, and investing in sectors with strong profitability and reliable financial reporting data can produce better returns.

The research on China's stock market can be extended to improve the understanding of the development process of similar emerging markets, thereby promoting their improvement. To enhance the development of emerging markets, the regulators should attach great importance to the role of local institutional investors in driving the market to maturity. It is crucial to adopt a structured approach to examine the market pricing mechanism throughout the middle stage of the transition from developing to mature markets.

This study offers a structured viewpoint on asset pricing in growing emerging markets by combining the multi-factor pricing model approach with behavioral finance theories.

This paper aims to explore the impact of product market competition (PMC) on companies’ investment in external auditing.

This paper applies a conceptual framework derived from demand–supply analysis and a panel data set of 2,263 listed manufacturing companies in China covering the period 2012–2019. In the assessment of PMC, this study measures industry-level competition intensity and company-specific market power separately.

Industries appear to engage in a lower average level of external auditing if industrial competition intensity is either too high or too low. Similarly, companies spend less on external auditing if their market power is either too strong or too weak, and the company-level inverted U-shaped relationship is much more evident in industries with weak PMC.

This paper shows that a company’s external audit strategy is affected by the level of competition it faces in its market. The findings of this paper can improve the current linear PMC–auditing theoretical framework and provide insights into the strategic auditing of listed companies in China. The findings also have significant implications for policy recommendations regarding corporate governance and market scrutiny regulations.

The purpose of this study is to employ a user-centered approach to identify subgroups of people with similar profiles based on their perceptions of multiple dimensions of digital products' coolness and to test the differences across subgroups in the intention to use these products.

In Study 1, 1,161 adults rated a virtual digital product on four dimensions of coolness. In Study 2, 660 college students made similar ratings and also reported their intention to use a real digital product. Participants' ratings were analyzed using a user-centered approach, namely latent profile analysis.

Study 1 identified groups of participants who had similar profiles of product ratings on the four dimensions of coolness: niche cool, mass cool, uncertain cool and uncool. Study 2 replicated the findings of Study 1 and in addition showed that these groups varied in their intention to use the product and in whether a specific dimension increased or decreased this intention.

The cross-sectional data preclude inferences about causality, calling for experimental or longitudinal research. Additionally, future research should explore whether the results generalize to other product categories and other age groups.

Managers should design digital products, segment the market and develop flexible strategies based on combined responses to dimensions of coolness perception.

The present research employed a user-centered approach to identify groups of people who share similar patterns of coolness perception. This study provides new insight that was not available in variable-centered research.

This study aims to examine how the political career concerns of top executives affect corporate environmental practices.

Based on rent-seeking theory, this work uses empirical analysis to investigate the impact of top executives’ political connection and political promotion on corporate environmental information disclosure (EID). Data were collected from Chinese listed firms in heavily polluting industries in the Shanghai Stock Market in 2014–2016.

The results reveal that the highly politically connected top executives are more likely to be promoted in their political positions than their counterparts. However, the firms under the management of these highly politically connected executives show low level of EID. The results suggest that the political motivations of top executives with political connection hinders corporate EID.

This paper extends literature system about the impact of executives' rent-seeking on corporate EID by examining the informal mechanisms in terms of political connection and political promotion. It provides insights for studies of corporate environmental strategies and governmental environmental responsibility.

Previous studies have reached inconsistent conclusions on foreign direct investment (FDI) technology spillovers and corporate innovation. The main purpose of this paper is to explore the technological spillover effects of FDI from the microperspective of firm linkages induced by geographic distance. Further analysis is conducted on the impact and mechanism of this spillover on the innovation quality of Chinese enterprises. The conclusions drawn from this paper can guide Chinese enterprises' foreign capital utilization and innovation strategy choices.

Using the data of China's A-share listed companies from 2009 to 2019, this paper explores the role of FDI technology spillover in enterprise innovation quality through a two-way fixed-effect model. The robustness of the results is proven by substituting variables, adding industry fixed effects and excluding high-profit groups, and further using the two-stage least squares (2SLS) method to alleviate the empirical endogeneity problem.

These findings indicate that FDI technology spillover based on geographic proximity has a positive impact on the innovation quality of Chinese enterprises. However, there are different impacts for different types of enterprises. FDI technology spillover has a positive impact on the innovation quality of non-state-owned enterprises (non-SOEs) and small- and medium-sized enterprises (SMEs), while it has no effect on state-owned enterprises (SOEs) and large enterprises. The authors also find that the degree of financing constraints and R&D investment are important transmission mechanisms between FDI technology spillover and enterprise innovation quality.

This study ignores industry characteristics when considering foreign enterprises around Chinese enterprises. In fact, technology spillover effects differ across industries. When the authors matched microdata to regions, only the provincial level was considered. Therefore, there is still room for further research. In future research, the authors should consider industry characteristics and group foreign enterprises and Chinese enterprises in the same industry and in different industries to explore industry differences in technology spillover. In addition, when matching corporate data to regions, the authors can match to the city level and draw city-level conclusions.

This study is different from previous studies that focus on the quantity of enterprise innovation or innovation output. The authors focus on the role of technological spillovers in the quality of Chinese enterprise innovation, enriching research in the field of enterprise innovation quality. In addition, the current FDI technology spillover indicators are technically difficult to measure at the micro level. The authors draw inspiration from the theory of the geographical structure of financial supply and combine the creation methods of macro and micro indicators in existing articles in other fields. The authors ingeniously construct a new FDI technical spillover indicator. This indicator combines the commonly used regional FDI technology spillover with the geographic proximity of enterprises at the microlevel by constructing an interaction term between the two. This indicator not only alleviates the endogeneity problem to a certain extent but also has implications for future research in the field of FDI technology spillovers at the micro level.

(1) FDI technology spillovers are an effective way to improve the innovation quality of local enterprises, especially for non-SOEs and SMEs. Therefore, The authors suggest that in the context of dual circulation, the Chinese government should continue to open wider to the outside world and encourage foreign enterprises to invest in China. (2) In future development, managers of SOEs and large enterprises should create an innovation incentive mechanism. Moreover, they should change their vertical management structure and make full use of their policy advantages and budget advantages to increase innovation activities. In the process of acquiring technology spillovers, enterprises need to solve their own financing constraints.

First, this study solves a technical problem. It is technically difficult to measure the current FDI technical spillover indicators at the micro level. This study innovatively constructs a new FDI technology spillover indicator that combines regional FDI technology spillovers with the microperspective of the geographical proximity of enterprises. This approach not only alleviates certain endogeneity problems in the empirical evidence but also enriches relevant research in the field of technology spillover. In addition, this study focuses on the impact and mechanism of this spillover, which addresses the current research gap among previous studies that mainly focus on innovation quantity and ignore innovation quality.

The main objective of this study is to determine the patterns of suicidal ideation among undergraduate students of Obafemi Awolowo University, Ile-Ife, Osun State.

The study examined the pattern of suicidal ideation among undergraduate students of Obafemi Awolowo University, Ile-Ife, Nigeria. The study adopted a survey research design. The study population comprised all the 28,673 undergraduate students of the university out of which 800 students were selected by stratified random sampling for the study. A questionnaire was used in gathering data for this study. Data collected were analysed using descriptive statistics, cluster and factor analyses. The study concluded that the patterns of suicide ideation among undergraduate students of Obafemi Awolowo University are passive. It is recommended that Obafemi Awolowo University students adopt the physical and online counselling services provided by the institution to aid their mental and psychological well-being.

Findings revealed that the prevalence of suicidal ideation among the students was low (89.9%). Result also showed that pattern of suicidal ideation was passive (85.2%). In addition, result showed that social isolation (31.3%), hopelessness (29.4%), disappointment with school result (26.5%) and unmet expectation (12.9%) were possible factors of suicidal ideation among undergraduate students of Obafemi Awolowo University, Ile-Ife, Nigeria.

This study only established the patterns of suicidal ideation among students of Obafemi Awolowo University Ile-Ife, without any reference to treatment of students with suicidal ideation. Since the patterns of suicidal ideation had been established, it is suggested that further research be conducted on the treatment and prevention of suicide among the students.

The research was conducted by the researchers, and data were adequately collected and prepared following research ethics and guidelines. Results were presented as revealed by the analysis of the data.