Jianquan Guo

Achieving sustainable development goals has become a forefront issue of concern for the international community. However, the increasing geopolitical risks (GPRs) and rising economic complexity (ECI) globally have made environmental governance issues more intricate. This paper examines 41 countries from 2000 to 2023 using a two‐way fixed effects model to explore the effect of GPRs and ECI on ecological footprints (EFs), as well as the moderating effect of governance quality (GQ) in this process. We find that, firstly, GPRs, ECI, and GQ are generally positively associated with EFs. Secondly, GQ moderates the effect of GPRs and ECI on EFs. Thirdly, the research results exhibit heterogeneity across countries with different income levels and varying degrees of GPR. Fourthly, in further analysis, the impact of renewable energy consumption (REC) and foreign direct investment (FDI) on EF is verified, as well as their moderating role in the process of GPR and ECI affecting EF. This study enriches theoretical research on GPRs, ECI, and EFs on a global scale and in heterogeneous scenarios and provides practical pathways to achieving an environment‐friendly development mode.

Why is it often difficult for the advantages of female managers in emerging economy firms (EEFs) to be fully realized, and why do they sometimes become entangled in the whirlpool of bribery? How can their strengths be better leveraged? Drawing on a sample of listed companies in China, this study reaches the following conclusions. First, there is a significant positive association between the proportion of female managers and the level of bribery in EEFs. Second, this positive relationship is significantly weakened when EEFs receive more favorable performance feedback. Further analysis yields additional insights. First, the proportion of female managers in EEFs is positively associated with the firm's inclusive value‐sharing performance toward its internal and external stakeholders, yet this beneficial effect is substantially undermined by bribery. Second, government subsidies received by EEFs can significantly weaken the positive relationship between the proportion of female managers and bribery. Third, the central government's anti‐corruption initiatives have led to a decline in bribery. Overall, our findings suggest that performance pressure may erode the potential advantages female managers could otherwise bring in emerging markets. Based on these insights, we offer recommendations for both firm management and policymakers in emerging markets: fostering a more equitable environment for female managers can enhance the firm's broader, stakeholder‐oriented outcome and promote sustainable corporate success.

Foreign direct investment (FDI) serves as a pivotal external driver for the low-carbon transition in developing host countries. However, its environmental impact remains theoretically contested between the "pollution halo" and "pollution haven" hypotheses. This study investigates the nonlinear relationship between FDI and the low-carbon development in tourism (LCDT), with a particular focus on the moderating roles of green taxation (GTAX) and green technological innovation (GTI). The empirical findings reveal that (1) FDI, GTAX, and GTI each significantly promote the LCDT; (2) GTI positively moderates the relationship between FDI and LCDT, whereas GTAX exhibits a negative moderating effect; and (3) these moderating effects demonstrate regional heterogeneities. Theoretically, this research extends the environmental impact literature of FDI to the service sector and uncovers the multifaceted mechanisms driving LCDT. Practically, it offers a scientific basis for guiding the refined design and adjustment of GTAX policies, optimizing regional lowcarbon governance plans, thereby supporting China's tourism sector in leveraging opportunities from the restructuring of global green supply chains. Received: 14 October 2025 | Revised: 10 December 2025 | Accepted: 23 January 2026 Conflicts of Interest The authors declare that they have no conflicts of interest to this work. Data Availability Statement The data that support this work are available upon reasonable request to the corresponding author. Author Contribution Statement Jianquan Guo: Conceptualization, Methodology, Validation, Formal analysis, Investigation, Resources, Writing – original draft, Writing – review & editing, Supervision, Project administration, Funding acquisition. Thi Hai Hoan Pham: Methodology, Software, Validation, Formal analysis, Investigation, Data curation, Writing – original draft, Writing – review & editing, Visualization.

Analyzing a sample of Chinese firms spanning from 2007 to 2022, we yield the following findings: (1) Local environmental regulations have a negative impact on short‐term firm financial performance, and this impact can be weakened by corporate bribery. However, local environmental regulations enhance firm long‐term financial performance after initiatives by the central government to rectify issues within the “top‐down” management system; (2) Further analysis indicates that the effects of bribery on firm financial performance depend on the focus of the central government. Additionally, bribery undermines firm's research and development investment, though this investment is beneficial for long‐term development. Our research not only provides suggestions for firms in emerging economies on how to respond to environmental regulations but also provides insights for governments about how to achieve a “win‐win” situation through proper environmental regulations.

Can emerging economy firms (EEFs) enhance their green innovation (GI) levels through mergers and acquisitions (M&As)? Utilizing the Behavioral Theory of the Firm (BTF), we analyzed 1214 M&A deals completed by Chinese enterprises and obtained several key findings: (1) A significant U‐shaped relationship exists between GI performance feedback and postmerger GI outcomes, with the influence of negative feedback intensifying and that of positive feedback diminishing over time. (2) EEFs acquiring targets in developed economies can markedly improve their GI levels within 1‐ to 2‐year postdeal, especially when they have positive feedback; conversely, firms with only slightly above‐aspiration GI levels may fail to realize such benefits. (3) EEFs engaged in waste management derive greater benefits from M&As in terms of GI. This research not only enriches the BTF but also offers practical insights for EEFs, suggesting that strong motivation coupled with actionable strategies can effectively bolster GI levels despite existing challenges.