Haijing Zhang

The objective of this scientific study is to examine whether the climate change attention of the chief executive officer promotes corporate social responsibility. To perform the extensive calculations required for this analysis, the study utilizes comprehensive panel data sourced from Carbon Disclosure Project, KLD, and financial databases. The scientific research methods used include two-stage instrumental variable estimation and difference-in-differences approaches to rigorously establish a causal relationship. The results identify a significant positive correlation between chief executive officer climate change attention and overall corporate social responsibility. Specifically, this executive focus significantly improves external and internal corporate social responsibility while reducing socially irresponsible performance; however, it does not enhance material corporate social responsibility. Furthermore, the findings indicate that this positive effect is significantly amplified when chief executive officers are in the early stages of their careers or receive high compensation, particularly equity-based compensation. Additionally, the implementation of a corporate low-carbon strategy serves as an important mediating channel for improving social performance. In conclusion, executive cognitive attention is a fundamental determinant of a firm’s strategic behaviors. It is recommended that corporate boards structure equity-based compensation to align with sustainability goals and actively support low-carbon strategies to maximize the positive impact of executive attention on sustainable development.

China has become the major stakeholder in global photovoltaic (PV) technology. However, the existing mechanistic interpretation of “what promotes the technological progress of the Chinese PV industry” is controversial. This paper takes China’s A-share listed PV enterprises from 1999 to 2019 as the research sample and uses a panel fixed-effect regression model to empirically test the impact of research and development (R&D) investment and government subsidies on the technological progress of PV enterprises. The results show that there is an “N”-shaped nexus between R&D investment and technological progress, and most PV enterprises are in the climbing stage of the N-shaped curve. With the development of the PV industry, the nexus will undergo a transformation from inverted U-shaped to N-shaped, indicating that R&D investment is a key driver of PV technological progress. Yet, government subsidies are a “double-edged sword”. They have a significant positive direct effect on PV technological progress but also a negative moderating effect. Tax returns play a positive incentivizing role, while financial subsidies play a negative moderating role. This study provides a policy basis for the timely reduction of financial subsidies and increased R&D investment to promote technological progress in China’s PV industry.

China is a world leader in the global solar photovoltaic industry, and has rapidly expanded its distributed solar photovoltaic (DSPV) power in recent years. However, China’s DSPV power is still in its infancy. As such, its business model is still in the exploratory stage, and faces many developmental obstacles. This paper summarizes and analyzes the main obstacles that China’s DSPV power is facing in its development, using a literature analysis methodology. Then, previous business models, such as host-owned, energy management contract (EMC), and third-party-owned (TPO), were studied using the Business Model Canvas (BMC) as an analytical tool. Moreover, the Lean Canvas (LC) method was used to further conduct a synthesis and comparative analysis with the three models, describing how and to what extent these models can overcome identified obstacles. Finally, the study highlighted the dominant position of EMC model.