Pub Date : 2026-01-22DOI: 10.1016/j.frl.2026.109532
Mingyue Fu , Pengfei Zhu
Based on data linking Chinese listed firms and their subsidiaries from 2006 to 2023, this study constructs a balanced panel dataset at the “parent firm–potential destination region–year” level. Taking firms’ interregional investment activities as a proxy for cross-regional capital flows, the paper investigates how regional disparities in tax enforcement impact cross-regional capital flows. The results reveal that greater regional disparities in tax enforcement intensity significantly promote cross-regional capital flows, indicating that regions with weaker tax enforcement intensity attract more cross-regional investments from listed companies. Furthermore, both economic resilience and industrial agglomeration positively moderate this relationship.
{"title":"Uneven tax enforcement and cross-regional capital flows: The role of economic resilience and industrial agglomeration","authors":"Mingyue Fu , Pengfei Zhu","doi":"10.1016/j.frl.2026.109532","DOIUrl":"10.1016/j.frl.2026.109532","url":null,"abstract":"<div><div>Based on data linking Chinese listed firms and their subsidiaries from 2006 to 2023, this study constructs a balanced panel dataset at the “parent firm–potential destination region–year” level. Taking firms’ interregional investment activities as a proxy for cross-regional capital flows, the paper investigates how regional disparities in tax enforcement impact cross-regional capital flows. The results reveal that greater regional disparities in tax enforcement intensity significantly promote cross-regional capital flows, indicating that regions with weaker tax enforcement intensity attract more cross-regional investments from listed companies. Furthermore, both economic resilience and industrial agglomeration positively moderate this relationship.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109532"},"PeriodicalIF":6.9,"publicationDate":"2026-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146032768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-22DOI: 10.1016/j.frl.2026.109562
Liu Xuan , Huo Xuexi
In the context of rural revitalization, this paper investigates the impact of digital finance on green innovation in agricultural enterprises. Based on panel data from Chinese listed agricultural firms (2011–2023), the study empirically examines direct effects, mechanisms, and moderators. The results demonstrate that digital finance significantly enhances green innovation performance. Mechanism analysis reveals three key pathways: increasing R&D intensity, improving environmental information disclosure, and alleviating financing constraints. Conversely, financial regulation exerts a negative moderating effect, weakening the positive impact of digital finance in highly regulated regions. Heterogeneity tests indicate that large-scale and eastern enterprises benefit more prominently from digital financial development. These findings underscore the pivotal role of digital finance in fostering sustainable technological transformation and provide insights for integrating financial digitalization with ecological modernization.
{"title":"Digital finance, financial regulation and green innovation in agricultural enterprises","authors":"Liu Xuan , Huo Xuexi","doi":"10.1016/j.frl.2026.109562","DOIUrl":"10.1016/j.frl.2026.109562","url":null,"abstract":"<div><div>In the context of rural revitalization, this paper investigates the impact of digital finance on green innovation in agricultural enterprises. Based on panel data from Chinese listed agricultural firms (2011–2023), the study empirically examines direct effects, mechanisms, and moderators. The results demonstrate that digital finance significantly enhances green innovation performance. Mechanism analysis reveals three key pathways: increasing R&D intensity, improving environmental information disclosure, and alleviating financing constraints. Conversely, financial regulation exerts a negative moderating effect, weakening the positive impact of digital finance in highly regulated regions. Heterogeneity tests indicate that large-scale and eastern enterprises benefit more prominently from digital financial development. These findings underscore the pivotal role of digital finance in fostering sustainable technological transformation and provide insights for integrating financial digitalization with ecological modernization.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109562"},"PeriodicalIF":6.9,"publicationDate":"2026-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146032769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-21DOI: 10.1016/j.frl.2026.109552
Bao Qi , Jianxiang Liu , Fan Hu
Managerial myopia, the excessive focus on short-term performance over long-term value, remains a key challenge in corporate governance. While scholars suggest myopia may vary across CEO tenure stages, direct empirical evidence remains scarce. Using data from Chinese A-share listed firms (2010–2023) and a lexicon-based textual analysis of MD&A reports, this study quantifies managerial myopia and examines its dynamics over CEO tenure. Results show that myopia is significantly higher in both early and late tenure stages, with the late-tenure effect pronounced only before planned departures but not in cases of unexpected turnover. These patterns are accompanied by significant reductions in physical capital investment and R&D expenditure, underscoring the adverse impact of myopia on long-term investment. This study provides novel text-based evidence on the tenure–myopia relationship, enriches the literature on managerial behavior, and offers practical implications for executive incentives and tenure design.
{"title":"The dynamics of managerial myopia across CEO tenure stages","authors":"Bao Qi , Jianxiang Liu , Fan Hu","doi":"10.1016/j.frl.2026.109552","DOIUrl":"10.1016/j.frl.2026.109552","url":null,"abstract":"<div><div>Managerial myopia, the excessive focus on short-term performance over long-term value, remains a key challenge in corporate governance. While scholars suggest myopia may vary across CEO tenure stages, direct empirical evidence remains scarce. Using data from Chinese A-share listed firms (2010–2023) and a lexicon-based textual analysis of MD&A reports, this study quantifies managerial myopia and examines its dynamics over CEO tenure. Results show that myopia is significantly higher in both early and late tenure stages, with the late-tenure effect pronounced only before planned departures but not in cases of unexpected turnover. These patterns are accompanied by significant reductions in physical capital investment and R&D expenditure, underscoring the adverse impact of myopia on long-term investment. This study provides novel text-based evidence on the tenure–myopia relationship, enriches the literature on managerial behavior, and offers practical implications for executive incentives and tenure design.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109552"},"PeriodicalIF":6.9,"publicationDate":"2026-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146033956","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-21DOI: 10.1016/j.frl.2026.109544
Hong Fang , Feng Xu , Xiaohui Wang , Yue Pan
Under China’s dual-carbon goals, energy transition has profoundly shaped corporate strategic decision-making, encouraging firms to strengthen their risk-taking capacity in pursuit of green transformation. Using panel data of Chinese-listed companies between 2005 and 2022, this study examines how energy transition impacts corporate risk-taking by integrating city-level energy consumption data with firm-level data. The findings indicate that energy transition significantly enhances corporate risk-taking, with stronger effects observed among non-state-owned enterprises and firms with lower energy consumption. Furthermore, financing constraints and digital transformation amplify the impact.
{"title":"Energy transition and corporate risk-taking","authors":"Hong Fang , Feng Xu , Xiaohui Wang , Yue Pan","doi":"10.1016/j.frl.2026.109544","DOIUrl":"10.1016/j.frl.2026.109544","url":null,"abstract":"<div><div>Under China’s dual-carbon goals, energy transition has profoundly shaped corporate strategic decision-making, encouraging firms to strengthen their risk-taking capacity in pursuit of green transformation. Using panel data of Chinese-listed companies between 2005 and 2022, this study examines how energy transition impacts corporate risk-taking by integrating city-level energy consumption data with firm-level data. The findings indicate that energy transition significantly enhances corporate risk-taking, with stronger effects observed among non-state-owned enterprises and firms with lower energy consumption. Furthermore, financing constraints and digital transformation amplify the impact.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109544"},"PeriodicalIF":6.9,"publicationDate":"2026-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146032767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-21DOI: 10.1016/j.frl.2026.109543
Boren Gao , Haibin Tang , Yibin Luo
Utilizing enterprise-level panel data from 2007 to 2023, this paper analyzes the direct impact of the establishment of big data comprehensive experimental zones (BEZ) on enterprise innovation, further examining the mediating role of financial resource allocation in this relationship. The research findings indicate that the establishment of BEZ significantly enhances corporate innovation levels, with financial resource allocation playing a mediating role between the establishment of these zones and enterprise innovation. Additionally, heterogeneity analysis reveals that high-tech enterprises, companies located in southern regions, and those with executives possessing financial backgrounds benefit more from the establishment of BEZ in terms of innovation capabilities. The results provide a theoretical basis for policy makers.
{"title":"Establishment of big data comprehensive experimental zones, financial resource allocation, and enterprise innovation","authors":"Boren Gao , Haibin Tang , Yibin Luo","doi":"10.1016/j.frl.2026.109543","DOIUrl":"10.1016/j.frl.2026.109543","url":null,"abstract":"<div><div>Utilizing enterprise-level panel data from 2007 to 2023, this paper analyzes the direct impact of the establishment of big data comprehensive experimental zones (BEZ) on enterprise innovation, further examining the mediating role of financial resource allocation in this relationship. The research findings indicate that the establishment of BEZ significantly enhances corporate innovation levels, with financial resource allocation playing a mediating role between the establishment of these zones and enterprise innovation. Additionally, heterogeneity analysis reveals that high-tech enterprises, companies located in southern regions, and those with executives possessing financial backgrounds benefit more from the establishment of BEZ in terms of innovation capabilities. The results provide a theoretical basis for policy makers.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109543"},"PeriodicalIF":6.9,"publicationDate":"2026-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146032771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-21DOI: 10.1016/j.frl.2026.109525
Orçun Kaya, Mehdi Mostowfi, Sugandhita Sugandhita
Foreign investment screening has become a central instrument for safeguarding strategic technologies in recent years. This paper examines how such measures shape cross-border M&A patterns, using Germany’s 2020 policy reform as a case study. Applying a difference-in-differences framework to firm-level M&A data from 2016 to 2024, we find that the reform significantly increased the likelihood of investment in German firms by other EU investors in newly regulated sectors, with majority-control acquisitions emerging as a mechanism in this pattern. Our findings indicate that investment screening fosters a shift toward European ownership in sensitive sectors, as partner economies increase their investment, thereby reshaping the dynamics of cross-border capital flows.
{"title":"Foreign investment screening and cross-border M&A in sensitive sectors: Evidence from Germany","authors":"Orçun Kaya, Mehdi Mostowfi, Sugandhita Sugandhita","doi":"10.1016/j.frl.2026.109525","DOIUrl":"10.1016/j.frl.2026.109525","url":null,"abstract":"<div><div>Foreign investment screening has become a central instrument for safeguarding strategic technologies in recent years. This paper examines how such measures shape cross-border M&A patterns, using Germany’s 2020 policy reform as a case study. Applying a difference-in-differences framework to firm-level M&A data from 2016 to 2024, we find that the reform significantly increased the likelihood of investment in German firms by other EU investors in newly regulated sectors, with majority-control acquisitions emerging as a mechanism in this pattern. Our findings indicate that investment screening fosters a shift toward European ownership in sensitive sectors, as partner economies increase their investment, thereby reshaping the dynamics of cross-border capital flows.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109525"},"PeriodicalIF":6.9,"publicationDate":"2026-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146014273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-20DOI: 10.1016/j.frl.2026.109537
Yue Zhu , Yuyang Wu
This study employs data from Chinese A-share listed firms from 2012 to 2023 to investigate the direct impact and underlying mechanisms by which climate risk (CR) on cross-boundary digital innovation (DI) of traditional firms. The findings indicate that CR significantly enhances DI, which is supported by robustness tests and endogeneity estimates using El Niño index and air ventilation as instrumental variables. Identify three key mechanisms for driving DI: increasing patient capital, analyst attention, and industrial robot application level. In addition, DI in firms with lower financing constraints, non-state-owned, high-polluting industries, and eastern regions are particularly driven by CR. This indicates that DI may be a conscious selection for firms to adapt to climate change, implying that there are business opportunities behind climate change to promote digital-real integration. Finally, the impact of CR on DI is influenced by the threshold effect of green digital finance (GDF). Research provides new insights for policy makers to guide firms to adjust innovation strategies to adapt to climate change from the perspective of coordinated development of green finance and digital finance.
{"title":"Climate risk and corporate cross-boundary digital innovation: An analysis based on the threshold effect of green digital finance","authors":"Yue Zhu , Yuyang Wu","doi":"10.1016/j.frl.2026.109537","DOIUrl":"10.1016/j.frl.2026.109537","url":null,"abstract":"<div><div>This study employs data from Chinese A-share listed firms from 2012 to 2023 to investigate the direct impact and underlying mechanisms by which climate risk (<em>CR</em>) on cross-boundary digital innovation (<em>DI</em>) of traditional firms. The findings indicate that <em>CR</em> significantly enhances <em>DI</em>, which is supported by robustness tests and endogeneity estimates using El Niño index and air ventilation as instrumental variables. Identify three key mechanisms for driving <em>DI</em>: increasing patient capital, analyst attention, and industrial robot application level. In addition, <em>DI</em> in firms with lower financing constraints, non-state-owned, high-polluting industries, and eastern regions are particularly driven by <em>CR</em>. This indicates that <em>DI</em> may be a conscious selection for firms to adapt to climate change, implying that there are business opportunities behind climate change to promote digital-real integration. Finally, the impact of <em>CR</em> on <em>DI</em> is influenced by the threshold effect of green digital finance (<em>GDF</em>). Research provides new insights for policy makers to guide firms to adjust innovation strategies to adapt to climate change from the perspective of coordinated development of green finance and digital finance.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109537"},"PeriodicalIF":6.9,"publicationDate":"2026-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146014288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-20DOI: 10.1016/j.frl.2026.109540
Liping Xu, Lirong Zhang
The rapid development of the digital economy has profoundly reshaped firms’ operational decisions and financial behaviors, yet how corporate digital transformation affects tax planning remains insufficiently explored. Using a sample of Chinese A-share nonfinancial listed firms from 2009 to 2023, this study analyses digital transformation’s effect on corporate tax planning efficiency, focusing on the mediating role of the internal information environment. The results show that digital transformation significantly enhances tax planning efficiency, and this conclusion remains robust across robustness and endogeneity tests. Mechanism analyses indicate that digital transformation improves the internal information environment by increasing earnings forecast accuracy and accelerating financial information disclosure, strengthening firms’ tax planning capabilities. Heterogeneity analyses further reveal that this effect is greater in firms with stronger internal governance, greater external monitoring and more advanced regional digital economic development and industrial agglomeration. Furthermore, digital transformation promotes firms’ total factor productivity by improving tax planning efficiency. This study provides new empirical evidence on the financial governance effects of digital transformation with essential policy and managerial implications.
{"title":"How digital capabilities affect tax planning: The internal information environment","authors":"Liping Xu, Lirong Zhang","doi":"10.1016/j.frl.2026.109540","DOIUrl":"10.1016/j.frl.2026.109540","url":null,"abstract":"<div><div>The rapid development of the digital economy has profoundly reshaped firms’ operational decisions and financial behaviors, yet how corporate digital transformation affects tax planning remains insufficiently explored. Using a sample of Chinese A-share nonfinancial listed firms from 2009 to 2023, this study analyses digital transformation’s effect on corporate tax planning efficiency, focusing on the mediating role of the internal information environment. The results show that digital transformation significantly enhances tax planning efficiency, and this conclusion remains robust across robustness and endogeneity tests. Mechanism analyses indicate that digital transformation improves the internal information environment by increasing earnings forecast accuracy and accelerating financial information disclosure, strengthening firms’ tax planning capabilities. Heterogeneity analyses further reveal that this effect is greater in firms with stronger internal governance, greater external monitoring and more advanced regional digital economic development and industrial agglomeration. Furthermore, digital transformation promotes firms’ total factor productivity by improving tax planning efficiency. This study provides new empirical evidence on the financial governance effects of digital transformation with essential policy and managerial implications.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109540"},"PeriodicalIF":6.9,"publicationDate":"2026-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146014265","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-20DOI: 10.1016/j.frl.2026.109538
Yang Zhang , Manru Jiang
This paper utilizes panel data from non-financial listed companies in the A-share market from 2015 to 2023 to construct a two-way fixed effects model that explores the impact of digital marketing, social media sentiment, and their interactions on corporate cash flow. Empirical results indicate that: digital marketing significantly enhances corporate cash flow; social media sentiment positively moderates the relationship between digital marketing and operating cash flow; there exists a marginal diminishing return of the relationship between digital marketing and corporate cash flow, characterized as an inverted "U" shape; the moderating effect of social media sentiment in the relationship between digital marketing and operating cash flow exhibits heterogeneity across companies with different operational leverage.
{"title":"Digital marketing, social media sentiment, and corporate cash flow","authors":"Yang Zhang , Manru Jiang","doi":"10.1016/j.frl.2026.109538","DOIUrl":"10.1016/j.frl.2026.109538","url":null,"abstract":"<div><div>This paper utilizes panel data from non-financial listed companies in the A-share market from 2015 to 2023 to construct a two-way fixed effects model that explores the impact of digital marketing, social media sentiment, and their interactions on corporate cash flow. Empirical results indicate that: digital marketing significantly enhances corporate cash flow; social media sentiment positively moderates the relationship between digital marketing and operating cash flow; there exists a marginal diminishing return of the relationship between digital marketing and corporate cash flow, characterized as an inverted \"U\" shape; the moderating effect of social media sentiment in the relationship between digital marketing and operating cash flow exhibits heterogeneity across companies with different operational leverage.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109538"},"PeriodicalIF":6.9,"publicationDate":"2026-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146014271","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2026-01-20DOI: 10.1016/j.frl.2026.109534
Shengbin Wang , Jiayi Song
A key driver of digital transformation, financial technology (fintech) is reshaping urban–rural development globally. Using panel data from 31 Chinese provinces from 2011 to 2022, this study empirically examines the impact of fintech on urban–rural integrated development. Results show that fintech significantly promotes integration, even after controlling for various factors. Human capital plays a key mediating role, indicating indirect effects through education and talent channels. Threshold analysis reveals that the positive impact is greater in regions with higher economic development or moderate competition for educational resources. The findings enrich the empirical literature and provide policy insights for coordinated development.
{"title":"Fintech and urban-rural integrated development: a human capital perspective","authors":"Shengbin Wang , Jiayi Song","doi":"10.1016/j.frl.2026.109534","DOIUrl":"10.1016/j.frl.2026.109534","url":null,"abstract":"<div><div>A key driver of digital transformation, financial technology (fintech) is reshaping urban–rural development globally. Using panel data from 31 Chinese provinces from 2011 to 2022, this study empirically examines the impact of fintech on urban–rural integrated development. Results show that fintech significantly promotes integration, even after controlling for various factors. Human capital plays a key mediating role, indicating indirect effects through education and talent channels. Threshold analysis reveals that the positive impact is greater in regions with higher economic development or moderate competition for educational resources. The findings enrich the empirical literature and provide policy insights for coordinated development.</div></div>","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"92 ","pages":"Article 109534"},"PeriodicalIF":6.9,"publicationDate":"2026-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146014270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}