This study estimates regional economic resilience in China from 2000 to 2022, focusing on economic resistance resilience, recovery resilience, and reorientation resilience. The entropy method, kernel density estimation, and spatial Durbin model are applied to examine the spatiotemporal evolution and influencing factors. The results show significant spatial clustering, with stronger resilience in the east and weaker resilience in the west. While economic resilience has generally improved, regional disparities persist. Key factors such as human capital, urban hospitals, financial development, market consumption, and environmental quality have a positive effect on resilience, with spatial spillover effects. However, human capital and urban hospitals also show a negative indirect impact on surrounding regions. The influence of these factors varies across regions and periods, indicating strong spatiotemporal heterogeneity.

Corporations are under increasing pressure to adapt their strategies to mitigate the adverse effects of climate risk. This study explores the theoretical and empirical relationship between climate risk and corporate collaborative innovation, highlighting the mechanisms involved. Theoretical analysis suggests that climate risk, by intensifying stranded assets and cross-risks, acts as a compensatory driver for collaborative innovation among corporations. Digital transformation strengthens this compensatory mechanism, while corporate risk-taking diminishes its impact. Empirical analysis using data from Chinese A-share listed companies supports the theoretical framework, revealing that climate risk compels companies to “band together” for technological advancement to manage external challenges. The mediating effect of digital transformation enhances the flow of innovation elements among firms, bolstering collaborative innovation, whereas risk-taking weakens this effect. This paper deepens the understanding of how climate risk shapes corporate strategy. It provides practical insights for corporate strategists seeking collaborative responses to environmental volatility and supports policymakers in designing sustainability-oriented policies.

Climate risks are increasingly shaping corporate strategies, raising important considerations for sustainability. This study explores the impact of climate risks on the shadow banking activities of non-financial firms, examining how these risks influence sustainable financial practices. Analyzing a sample of Chinese listed firms from 2010 to 2022, this study finds that climate risks are negatively associated with shadow banking activities, reflecting a shift towards more sustainable financial management. This finding remains robust through various robustness checks and tests for endogeneity. Heterogeneity results indicate that the reduction in shadow activities due to climate risks is more pronounced in firms with higher dependence on external financing and weaker profitability. Mechanism results suggest that climate risks amplify cross-sectional risks for firms, increasing risk sources. Simultaneously, companies enhance their preference for holding cash to address potential risks. The combined effect of these factors leads to a decrease in shadow banking activities among non-financial firms, aligning with a shift towards sustainability. This study provides new insights into understanding how climate risks drive sustainable financial decision-making and enriches the research on the determinants of firm financialization.

Intelligent transformation plays a crucial role in advancing sustainable development in manufacturing while also enhancing the information environment. This study examines the role of intelligent transformation in China’s manufacturing sector, spanning theoretical and empirical dimensions and being anchored in the context of capital market information efficiency. The theoretical framework highlights how intelligent transformation mitigates information asymmetry, aligning a firm’s valuation with its intrinsic value, thereby elevating the information efficiency of capital markets. Leveraging annual reports from China’s A-share manufacturing firms, this study employs textual analysis to construct indicators assessing the extent of intelligent transformation across these entities. The empirical findings of this study harmonize with the theoretical constructs. Notably, intelligent transformation emerges as a pivotal driver in enhancing information efficiency in capital markets, substantiated by a negative correlation between intelligent transformation and stock price synchronicity within the manufacturing domain. This correlation withstands a battery of robustness tests and endogeneity treatment. The mechanism driving this transformative impact lies in intelligent transformation’s ability to enhance productivity and magnify market attention, thereby positively influencing capital market information efficiency. The insights not only provide empirical support but also offer practical guidance for improving real-world company operations and developing high-quality capital markets.

Balancing policy subsidies and employment support is crucial for developing effective assistance policies for disabled veterans. This study conducted an empirical investigation in China using 315 survey questionnaires. The findings indicate that, first, subsidies have a positive impact on the well-being of disabled veterans, but this effect diminishes as disability severity increases. Second, employment emerges as a crucial factor that surpasses subsidies in contributing to overall well-being. As disability severity increases, the relative impact of employment on well-being strengthens. Third, employment enhances well-being by improving self-identity, while the influence of subsidies on self-identity is relatively minimal. Additionally, a policy model demonstrates that subsidies enhance individual well-being but increase group uncertainty, whereas employment support improves individual well-being and reduces group uncertainty. These insights are valuable for governments when formulating policies related to social security, employment stability, and welfare protection.

Introduction: Existing studies have consistently demonstrated a positive association between social capital and subjective well-being; however, systematic evidence on this relationship among disabled veterans remains limited. This study investigates how structural social capital—captured by the breadth of social support networks—affects the subjective well-being of disabled veterans in China. It further examines the mediating roles of perceived effectiveness of government assistance (institutional resource utilization) and comrade trust (relational social capital), as well as the moderating role of policy awareness in shaping these relationships.Methods: A stratified sampling strategy was employed to collect survey data from 472 disabled veterans across multiple regions in China. Structural social capital was measured through the size and diversity of respondents’ social support networks. Ordered Logit regression models were used to estimate the effects, and mediation and moderation analyses were conducted to assess underlying mechanisms.Results: First, broader social support networks were found to be significantly and positively associated with higher levels of subjective well-being. Second, both perceived government assistance effectiveness and comrade trust significantly mediated this relationship, reflecting the dual embeddedness of institutional and relational resources. Third, policy awareness moderated the association, indicating a marginal substitution effect between formal and informal capital. Finally, the positive effect of structural social capital was more pronounced among older veterans and those with less severe disabilities.Discussion: The findings highlight a synergistic mechanism between institutional services and social network resources in enhancing disabled veterans’ well-being. Policy implications include strengthening social support networks, improving institutional responsiveness, and increasing policy awareness, while tailoring interventions by age and disability severity. Such measures can more effectively transform social capital into psychological well-being.