By reviewing the related research on the distortion of labor, capital, and technical factors, combined with the development and the upgrading status of the marine fishery industry, we used the macro data of the industry to measure the degree of price distortion of its market factors and to construct a Moore-like index and a simplified industrial structure upgrade index based on the fsQCA fuzzy set qualitative comparative analysis. The main content of this paper is related to environment and sustainable development. We found that (1) in the case of low capital factor distortion, the combination of high labor factor distortion and low marine fishery resource distortion will inhibit the rapid upgrading of the marine fishery industry structure; (2) in the case of low capital factor distortion, the combination of low labor factor distortion and high marine fishery resources will also inhibit the rapid upgrading of the marine fishery industry structure; and (3) under the combination of low labor factor distortion and low marine fishery resource factor distortion, regardless of the degree of capital factor distortion, the rapid upgrading of the marine fishery industrial structure will be inhibited; there are only differences in the timing of the impact. The impact of factor distortion on the upgrading of industrial structure lags two and three periods, respectively.

Sustainable development, epitomized by green innovation, is increasingly emerging as a pivotal force propelling economic ecosystems and environmental conservation efforts. It plays a vital role in addressing the environmental challenges epitomized by the Kuznets curve conundrum. As a pivotal theoretical determinant in fostering green innovation practices within firms, the extent of influence and the underlying mechanism of top executives’ educational backgrounds have not been adequately examined through empirical research. This study investigates the influence of executives’ educational attainment on corporate green innovation, examining the relationship from the perspectives of risk assumption and corporate social responsibility. The results of our analysis are as follows: (1) there is a significant positive correlation between the educational level of executives and the incidence of green technological innovation within firms. (2) Executives with overseas backgrounds make a substantial contribution to both green technological and green management innovation. (3) The examination of mediation effects reveals that risk bearing plays a partial mediation role in the process through which executives’ educational background influences green technological innovation. Additionally, corporate social responsibility functions as a partial mediation factor.

The green transition of polluting firms is critical for achieving sustainable economic development. While previous research has explored the relationship between environmental policy and corporate pollution, it has often neglected the sustainability challenges faced by firms. Drawing on data from listed companies in China from 2008 to 2022, this paper empirically examines the impact of environmental policy on the risk-taking behavior of polluting firms. Building on this analysis, we assess the ecological impact, characteristics, and underlying mechanisms of a specific policy, while proposing solutions to promote sustainability in polluting firms. The findings indicate that, although environmental policy reduces the risk-taking levels of polluting firms, it has not been effective in curbing pollution emissions. This effect is particularly pronounced in firms exhibiting characteristics such as low-quality environmental information disclosure, industry resource crowding, and stringent regional assessments. The policy heightens financing constraints and investment costs for polluting firms and diminishes their expectations for future growth, ultimately suppressing both their capacity and willingness to take risks. Further analysis suggests that environmental coordination regulations and green transition guidance can encourage risk-taking behavior among polluting firms. These findings offer empirical evidence from the perspective of polluting firms, providing valuable insights into addressing the sustainability dilemma.

Aiming to clarify the impact of China’s green finance reform policy on corporate sustainable innovation, as well as its internal mechanism, this paper draws on institutional theory and stakeholder theory to examine whether the policy drives corporate sustainable innovation, as well as the mediating role of corporate social responsibility (CSR) strategies. Using data from Chinese A-share listed companies covering the period 2012 to 2022, we employ a difference-in-differences (DID) model to test the policy effects. The results show that the green finance reform policy significantly boosts both the input and output of corporate sustainable innovation. CSR strategies play a partial mediating role in this relationship: the policy drives firms to optimize CSR practices, which in turn enhances their sustainable innovation. Heterogeneity analysis reveals that the policy effects vary across industries and regions. Specifically, the policy has a stronger effect on innovation input in heavily polluting industries, while it has a more significant impact on innovation output in non-heavily polluting industries. State-owned enterprises (SOEs) amplify the policy’s promotion effect on innovation output. We also find a significant threshold effect: CSR only drives sustainable innovation input when the proportion of green credit exceeds a critical level. These findings provide theoretical and empirical support for optimizing green finance policies to advance the coordinated development of the economy and the environment.

This study examines the impact of green innovation investment on ESG rating divergence and the mediating role of product market competition, based on 11,768 firm-year observations of Chinese A-share listed manufacturing enterprises from 2011 to 2023. We measure green innovation by lagged green patent applications (distinguishing invention and utility model patents), ESG rating divergence by the standard deviation and range of scores from six mainstream international and domestic agencies, and product market competition using the Herfindahl–Hirschman Index. Using mediating effect models with multi-dimensional fixed effects and heterogeneity analysis, we find that green innovation significantly widens ESG rating divergence, with green invention innovation exerting a stronger impact. Product market competition plays a partial mediating role, as green innovation intensifies industry competition and further amplifies rating divergence. Heterogeneity analysis shows no significant effect for heavily polluting firms, while green invention innovation of high-attention firms is more likely to cause rating disputes. This study reveals the reverse spillover effect of green innovation on ESG evaluation, providing new perspectives for understanding rating divergence and references for corporate green strategies and rating system optimization.

Introduction: Encouraging farmers to engage in entrepreneurship is a core pathway to advance rural revitalization, and their entrepreneurial dynamic capabilities serve as a critical foundation for the sustainable success of entrepreneurial ventures and long-term rural development. Methods: Grounded in dynamic capabilities theory, this study adopted a qualitative research approach and used purposive sampling to select 14 farmer entrepreneurs in City N, China, who actively participated in entrepreneurship training programs. Data were collected through field observations, semi-structured in-depth interviews, and relevant textual materials, and were analyzed using the six-phase thematic analysis method. Results: The findings suggest that entrepreneurship training is associated with the development of farmers' entrepreneurial dynamic capabilities across three dimensions: sensing, seizing, and transforming. Motivation-aligned training content, context-based training models, and collaborative training platforms are identified as important training-related conditions associated with the development of these capabilities. Further analysis shows that the role of training is jointly conditioned by multiple factors, including individual endowments, business context, support systems, and the external environment. Discussion: Building on these findings, this study proposes strengthening the training system, improving entrepreneurship support networks, and establishing long-term support mechanisms for the cultivation of entrepreneurial dynamic capabilities. These efforts can provide further support for the sustainable success of farmer entrepreneurship and contribute to inclusive rural revitalization.