Previous studies have pointed out that Industry-University-Research Institution (IUR) collaborative innovation is an important means to ensure the sustainable development of regional innovation, and there may be spillover effects among different regional innovation systems. However, the impact of regional spatial correlation and IUR collaborative innovation synergy degree on regional innovation performance is not that clear. Based on the panel data of 31 regions in China from 2006 to 2015, we construct static and dynamic spatial econometrics models to analysis the relationships among regional innovation performance, IUR collaborative innovation and spatial correlation. The research results show that there are significant positive spillover effects among different regions, indicating that the dynamic flows of innovation elements among regions is conducive to improve the regional innovation performance. In addition, IUR collaboration innovation also has a positive impact on regional innovation performance: the current period of IUR synergy degree has a negative impact, while the lagged one has a positive impact. It means that it will take a while for IUR collaborative innovation to be effective and it will have far-reaching contributions to long-term improvements rather than short-term benefits in social development. The results are significant for both static and dynamic spatial econometrics models. The conclusions of this paper have important policy significance to fully understand the coordination of innovative elements and promote the sustainable development of regional innovation systems.

The emission trading scheme (ETS) has become a significant tool to solve the climate change problem. China has built domestic carbon trading pilots to control energy consumption and reduce emissions. This paper explores the linkage between the carbon market and covered corporate value in China. To address the relationship, this paper estimates the impact that the carbon prices of different pilots in China have on the value of thermal listed enterprises and the extent of this impact. By using weekly data from July 2014 to June 2017, we analyze the overall effect and perform a comparative study of influences of the three trading years. Moreover, we test if the effect of carbon trading pilots on electricity corporate value is market-specific. The results demonstrate that carbon prices have a significantly negative impact on stock value when looking at the full sample and the effects vary between markets.

China’s cement production has been the highest worldwide for decades and contributes significant environmental pollution. Using a non-radical DEA model with slacks-based measure (SBM), this paper analyzes the environmental efficiency of China’s listed cement companies. The results suggest that the average mean of the environmental efficiency for the listed cement enterprises shows a decreasing trend in 2012 and 2013. There is a significant imbalance in environmental efficiency in these firms ranging from very low to very high. Further investigation finds that enterprise size and property structure are key factors. Increasing production concentration and decreasing the share of government investment could improve the environmental efficiency. The findings also suggest that effectively monitoring pollution products can improve environmental efficiency quickly, whereas pursuit for excessive profitability without keeping the same pace in energy saving would cause a sharp drop in environmental efficiency. Based on these findings, we proposed that companies in the Chinese cement sector might consider restructuring to improve environmental efficiency. They also need to make a trade-off between profitability and environmental protection. Finally, the Chinese government should reduce ownership control and management interventions in cement companies.