Tsangyao Chang
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View article: Green Factory Certification and Firms' Synergistic Gains in Pollution Abatement and Carbon Reduction: Market and Government Perspectives
Green Factory Certification and Firms' Synergistic Gains in Pollution Abatement and Carbon Reduction: Market and Government Perspectives Open
As an emerging voluntary environmental regulation in China, the green factory certification policy raises a crucial research question: How can the coordinated control of multiple pollutants be effectively achieved? This paper examines the …
View article: A Stock Prediction Method based on Futures Data
A Stock Prediction Method based on Futures Data Open
Stock prediction has always been the focus of attention and difficulty in the field of finance, this thesis selects the stock data of the precious metals sector in the past ten years, and at the same time obtains the futures data related t…
View article: Investigating the Relationship Between the Dynamics of the Structure of Intermediate Consumption and Output of Industries: Cross-Country Analysis
Investigating the Relationship Between the Dynamics of the Structure of Intermediate Consumption and Output of Industries: Cross-Country Analysis Open
This paper examines one of the main prerequisites of the inter-industry balance methodology on the proportional dependence of the output of industries and their intermediate consumption. The statistical base of the study is the world input…
View article: Testing the Effectiveness of Government Investments in Environmental Governance: Evidence from China
Testing the Effectiveness of Government Investments in Environmental Governance: Evidence from China Open
The Chinese government has taken many measures to improve the environment, such as directly investing in pollution control infrastructure, but the effectiveness remains to be tested. This paper employs the Toda–Yamamoto test and the Fourie…
View article: BITCOIN PRICE AND CHINESE GREEN BONDS: EVIDENCE FROM THE QARDL METHOD
BITCOIN PRICE AND CHINESE GREEN BONDS: EVIDENCE FROM THE QARDL METHOD Open
This article primally explores the short-term fluctuation and long-term implications of the international Bitcoin price (BP) on the Chinese green bond (GB) market, within the sample period of 2014:M10–2023:M07. Bitcoin is the most importan…
View article: RETRACTED: Applying Theorem of Ross to Transition Probability Matrix in Energy Options Pricing after Political Tensions and Russia-Ukraine Conflict
RETRACTED: Applying Theorem of Ross to Transition Probability Matrix in Energy Options Pricing after Political Tensions and Russia-Ukraine Conflict Open
Probability Matrix, it is necessary to obtain energy options pricing. The paper found the true probabilities of transition from the current state of the market to other states. The energy options pricing including effects of Political tens…
View article: Using bootstrap fourier granger causality test in quantiles to re-examine Pollution Haven/Halo hypotheses in China and G3 countries
Using bootstrap fourier granger causality test in quantiles to re-examine Pollution Haven/Halo hypotheses in China and G3 countries Open
We re-examine the Pollution Haven and Pollution Halo hypotheses (PHEH and PHALH) using a quantile-based Bootstrap Fourier Granger causality test, a method adept at identifying non-linear structural breaks. Our study encompasses data from C…
View article: Analysis of internal environment in coal industry of Russia: main risks after economic sanctions
Analysis of internal environment in coal industry of Russia: main risks after economic sanctions Open
Background: Internal environment has a great importance in the coal industry of Russia, so it should be actively implemented and constantly developed in the near future, allowing to increase the competitiveness of production and sale of co…
View article: The Impact of Digital Enterprise Agglomeration on Carbon Intensity: A Study Based on the Extended Spatial STIRPAT Model
The Impact of Digital Enterprise Agglomeration on Carbon Intensity: A Study Based on the Extended Spatial STIRPAT Model Open
The digital economy has broken the physical space limit, reshaped factor input ratios, and accelerated factor mobility, which drives carbon reduction and social sustainability. Digital enterprise agglomeration is becoming the new tendency …
View article: CO2 emissions integrated fuzzy model: A case of seven emerging economies
CO2 emissions integrated fuzzy model: A case of seven emerging economies Open
This paper proposes a new model to study carbon emission issues in seven emerging (E7) economies (China, Mexico, Turkey, Russia, Brazil, Indonesia and India). It employs weighted Quantum Spherical fuzzy DEMATEL model with golden cut using …
View article: Revisit Keynesian versus Wagner using Continuous Wavelet Analysis in China
Revisit Keynesian versus Wagner using Continuous Wavelet Analysis in China Open
Abstract: COVID-19 epidemic has forced the Chinese government to launch RMB$3 trillion fiscal expansion spending to fight for the stagnant recession economy in China. Whether this fiscal expansion policy will work, it depends on the causal…
View article: Stochastic Convergence of Coal Consumption – Fresh Evidence with Sharp and Smooth breaks
Stochastic Convergence of Coal Consumption – Fresh Evidence with Sharp and Smooth breaks Open
This study attempts to revisit the stochastic convergence of coal consumption for 39 countries through panel unit root test with both sharp and smooth breaks proposed by Bahmani-Oskooee et al. (2014). The empirical findings support converg…
View article: CAN GOLD HEDGE THE RISK OF FEAR SENTIMENTS?
CAN GOLD HEDGE THE RISK OF FEAR SENTIMENTS? Open
This paper investigates the interaction between fear sentiments and gold price (GP) by utilising the full-sample and sub-sample rolling-window bootstrap causality tests. It can be observed that GP can hedge the risk of fear sentiments in a…
View article: Revisit Economic Growth and CO2 Emissions Nexus in G7 Countries: Mixed-Frequency VAR Model
Revisit Economic Growth and CO2 Emissions Nexus in G7 Countries: Mixed-Frequency VAR Model Open
Applying a mixed frequency vector autoregressive (MF-VAR) approach, we examine relationships betweenCO2 emissions and economic growth from 1970Q1 to 2019Q4 among G7 countries. We incorporate primary energy consumption as a control variable…
View article: Is presidential popularity a threat or encouragement for investors?
Is presidential popularity a threat or encouragement for investors? Open
The economic situation of the post-epidemic is facing huge downward risks, and the government actively introduces stimulus measures to improve the current economic situation. In this crisis, the president’s role in asset price gradually de…
View article: How consumer confidence is reshaping the outbound tourism expenditure in China? A lesson for strategy makers!
How consumer confidence is reshaping the outbound tourism expenditure in China? A lesson for strategy makers! Open
Tourism is a rapidly rising sector that contributes significantly to economies. In this paper, we apply a bootstrap full-sample causality test, parameter stability test, and quantile-on-quantile approach test so as to examine the relations…
View article: Revisiting CO2 Emissions and Economic Growth in 10 Asian Countries: a Quantile-on-Quantile Approach
Revisiting CO2 Emissions and Economic Growth in 10 Asian Countries: a Quantile-on-Quantile Approach Open
This study applies a Quantile-on-Quantile model to investigate the emissions-economic growth relationship. Data from ten Asian countries for period of 1969–2019 is used. Both real GDP per capita and CO 2 emissions data are used in this stu…
View article: Impact of globalization on the environment in major CO2-emitting countries: Evidence using bootstrap ARDL with a Fourier function
Impact of globalization on the environment in major CO2-emitting countries: Evidence using bootstrap ARDL with a Fourier function Open
Alongside sustainable development as a major global aim, the contribution made by globalization to environmental issues has become crucial in recent decades. Prior studies have focused on how trade in globalization influences the environme…
View article: Revisiting Exchange Rate Shocks on Macroeconomic Variables in China using Time-Varying VAR Model
Revisiting Exchange Rate Shocks on Macroeconomic Variables in China using Time-Varying VAR Model Open
In this study we analyze exchange rate shocks in China on its macroeconomic variables by apply TVP-VAR modeling approach. Three-dimensional impulse response functions reveal that GDP, CPI and interest rate are affected in the short run and…
View article: Can the green bond market enter a new era under the fluctuation of oil price?
Can the green bond market enter a new era under the fluctuation of oil price? Open
This paper investigates how oil price (OP) influences the prospects of green bonds by utilising the quantile-onquantile (QQ) method and researching the interactions between OP and green bond index (GBI) from 2011:M1 to 2021:M11. We find th…
View article: The impacts of financial development on environmental quality in China：A panel causality test based on structural shifts
The impacts of financial development on environmental quality in China：A panel causality test based on structural shifts Open
Finance has the potential to regulate modes of production and consumption, and helps China achieve carbon peak and carbon neutralization. This paper uses the Toda–Yamamoto test and the extended Fourier Toda–Yamamoto test to explore the rel…
View article: Which Factors Determine CO2 Emissions in China? Trade Openness, Financial Development, Coal Consumption, Economic Growth or Urbanization: Quantile Granger Causality Test
Which Factors Determine CO2 Emissions in China? Trade Openness, Financial Development, Coal Consumption, Economic Growth or Urbanization: Quantile Granger Causality Test Open
The current study employs a Granger causality test within a Quantile approach investigating CO2 emission determinants in China. Results show urbanization, financial development and openness to trade are leading determinants of CO2 emission…
View article: Are Healthcare Expenditures Related to Economic Growth in China? Bootstrap ARDL Approach
Are Healthcare Expenditures Related to Economic Growth in China? Bootstrap ARDL Approach Open
This study attempts to investigate whether healthcare expenditures (HCE) are related to economic growth in China using a newly developed Bootstrap autoregressive distributed lag (ARDL) test for China over the period of 1990–2019. To avoid …