Yixiang Zhang

Based on legitimacy theory, this study investigates whether mandatory corporate social responsibility (CSR) disclosure reduces corporate business risk and through which mechanisms. Using China's 2008 mandatory CSR disclosure policy as a quasi‐natural experiment, we employ a propensity score matching–difference‐in‐differences approach (PSM‐DID). Results show that mandatory CSR disclosure significantly reduces corporate business risk. Mediation analyses provide evidence consistent with the mediating roles of corporate violations and corporate reputation. Further, in terms of the moderating effect of internal incentive mechanism and external supervision mechanism, mandatory CSR disclosure is more likely to reduce corporate business risk when management equity incentive and analyst following are strengthened.

High-entropy single-atom catalysts (HESACs) represent a paradigm shift in electrocatalyst design, integrating the atomic efficiency of single-atom catalysts (SACs) with the configurational entropy of high-entropy alloys (HEAs). Unlike conventional SACs, HESACs maintain well-defined coordination geometries while leveraging multi-element electronic reconstruction to mitigate the limitations of single metal sites in complex multistep reactions. This review outlines the fundamentals, design principles, and recent synthetic advancements in HESACs, including spatial confinement, laser planting, selective etching, movable-type printing, and pyrolysis, alongside advanced characterization techniques. Performance in key applications, such as HER, ORR/OER, NO3RR, and Li–S batteries, demonstrates that entropy-driven electronic modulation and multi-site synergy are central to their exceptional activity and durability. Finally, we discuss challenges and future pathways for translating HESACs from fundamental discoveries to practical electrocatalytic applications.

Purpose: This study employs protection motivation stheory (PMT) to investigate the cognitive drivers of energy-saving home appliance purchase behavior. The model emphasizes environmental commitment as a key motivational force shaped by perceived severity, perceived vulnerability, self-efficacy and response efficacy. In addition, the study examines how perceived optimism and perceived innovativeness – two dimensions of technological readiness – moderate the relationship between environmental commitment and home appliance purchase behavior. Design/methodology/approach: The study utilized a time-lagged, two-wave design to collect survey data from 1,337 Pakistani households. Analysis via partial least squares structural equation modeling (PLS–SEM) and fuzzy-set qualitative comparative analysis (fsQCA) assessed linear and configurational pathways to energy-saving home appliance purchase behavior. Findings: PLS–SEM results show that all four cognitive appraisals based on PMT (perceived severity, perceived vulnerability, self-efficacy and response efficacy) positively influence environmental commitment. This commitment significantly drives the purchase of energy-saving home appliances. Although perceived optimism positively moderates this relationship, perceived innovativeness unexpectedly weakens it. Furthermore, fsQCA reveals four causal configurations for high home appliance purchase behavior, demonstrating that multiple combinations of cognitive and technological traits lead to sustainable consumer choices. Originality/value: This study extends PMT by linking cognitive factors to sustained commitment and behavior while integrating technological readiness as a key boundary condition. The finding offers theoretical and practical insights for promoting sustainable consumption.

Full use of the complementary advantages of space platforms (SPs) for coordinated Earth observation is important in the aerospace field. A coordinated observation and data transmission scheduling problem of heterogeneous SPs, including agile Earth observation satellites (AEOSs), airships, and uncrewed aerial vehicles (UAVs), is studied. A coordinated Earth observation framework of multiple SPs is proposed to guarantee the coordinated operation of AEOSs, airships, and UAVs. The time dependence of AEOSs’ observation quality, AEOSs’ attitude transition time, and airships’ and UAVs’ cruising time is considered. The problem is modeled as a time-dependent team orienteering problem with multiple time windows (TDTOPMTWs). A mixed-integer programming (MIP) model is constructed to formulate the problem. A memetic algorithm (MA) is proposed. A feasible observation time window (FOTW) selection strategy is designed to decrease the conflict among observation tasks. An observation task insertion strategy based on time-dependent rewards, task urgency, attitude transition time and cruising time is developed. A priority-based data transmission task insertion strategy is designed, which ensures that observation tasks with high priority are transmitted. A $\xi $ -partial label setting algorithm with time-dependent reward, attitude transition time, and cruising time is designed for local search. The performance of the proposed algorithm is verified by comparing it with that of Gurobi 9.5.1, adaptive large neighborhood search (ALNS), knowledge-based MA (KMA) and multiround combinatorial allocation algorithm (MCA) on the basis of different scales of instances. Results show that the algorithm can obtain satisfactory solutions in a reasonable time.

Driven by rapid advancements in digital technologies, the digital economy has transformed various aspects of human life, offering new solutions to global challenges such as disparities in education, healthcare, gender, and income equality. Meanwhile, social sustainability remains an underexplored dimension compared to environmental and economic sustainability. In this context, can the digital economy promote social sustainability? This study investigates this relationship in European economies from 2003 to 2019 based on the capability approach. A new social sustainability index is developed. By applying the Pooled Mean Group‐Autoregressive Distributed Lag method, the results reveal a significant positive effect of the digital economy on social sustainability. The results are consistent and positive across several social sustainability measures, including human development, sustainable human development, and the social sustainability index. This research further identifies institutional quality and women entrepreneurship as external conversion factors, both positively mediating the digital economy– social sustainability relationship.