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Lefen Lin
College of Finance, Nanjing Agricultural University, Nanjing 210095, China

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Journal article
Published: 28 August 2021 in International Journal of Environmental Research and Public Health
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Global warming has gained the attention of researchers and authorities to work on the environmental glitches. Prior researchers highlighted that the industrial sector is more responsible for these environmental glitches. The industrial sector is highly participated for climate change problems. In the light of firm’s sustainable development goals, this study focuses on the proactive environmental strategies for green innovation. Furthermore, this study considers the link amid environmental regulations and green innovation, firm performance, and green innovation. Most importantly, this study applies the moderating role of environmental regulations and firm performance on the link amid proactive environmental strategies and green innovation. The outcomes with ordinary least square, fixed effect, generalized method of moments, and feasible generalized least square presents unique conclusions. This study concluded that firms with proactive environmental strategies are more valuable for green innovation practices. The environmental regulations promote green innovative practices. Similarly, firm performance also encourages the firm for green innovative practices. Importantly, these outcomes suggest that environmental regulations positively moderate the link amid proactive environmental strategies and green innovation. In addition, firm performance also plays positive role for positivity amid proactive environmental strategies and green innovation. These findings are imperative addition into the narrow literature of environmental practices at firm level in Pakistan. Moreover, this study suggests various guidelines and directions for policy makers, owners, governments, and stakeholders as promoting the environmental practices for higher profitability as well as minimizing industrial negative effects.

ACS Style

Naveedullah Mulaessa; Lefen Lin. How Do Proactive Environmental Strategies Affect Green Innovation? The Moderating Role of Environmental Regulations and Firm Performance. International Journal of Environmental Research and Public Health 2021, 18, 9083 .

AMA Style

Naveedullah Mulaessa, Lefen Lin. How Do Proactive Environmental Strategies Affect Green Innovation? The Moderating Role of Environmental Regulations and Firm Performance. International Journal of Environmental Research and Public Health. 2021; 18 (17):9083.

Chicago/Turabian Style

Naveedullah Mulaessa; Lefen Lin. 2021. "How Do Proactive Environmental Strategies Affect Green Innovation? The Moderating Role of Environmental Regulations and Firm Performance." International Journal of Environmental Research and Public Health 18, no. 17: 9083.

Journal article
Published: 20 January 2020 in Journal of Cleaner Production
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Many countries are facing environmental issues that affect the natural climate and life of human beings, therefore, governments have developed the strategies and regulations to control the industrial negative effects on the environment which is called environmental regulations (ER). To extend the porter hypothesis, we examined the moderating effect of product market competition (PMC) to find the circumstances that affect the association between ER and FP. We have divided PMC into high and low product market competition (HPMC and LPMC) by following the Herfindahl-Hirschman Index (HHI). The empirical investigation of this study demonstrates the following outcomes: ER indicates a statistically significant and positive relationship with FP. Furthermore, HPMC has great importance for FP, while LPMC has shown a negative relationship with FP. Besides, we tested the moderating effects of HPMC and LPMC on the association between ER and FP. The moderating effects of HPMC have significant and positive effects on the association between ER and FP. On the other side, the moderating effects of LPMC have significant and negative effects on the association between ER and FP. Moreover, this study promotes the importance of ER and PMC for firms. This study is beneficial for owners, investors, policymakers, and governments to form comprehensive and viable ER for reducing environmental negative effects.

ACS Style

Sohail Ahmad Javeed; Rashid Latief; Lin Lefen. An analysis of relationship between environmental regulations and firm performance with moderating effects of product market competition: Empirical evidence from Pakistan. Journal of Cleaner Production 2020, 254, 120197 .

AMA Style

Sohail Ahmad Javeed, Rashid Latief, Lin Lefen. An analysis of relationship between environmental regulations and firm performance with moderating effects of product market competition: Empirical evidence from Pakistan. Journal of Cleaner Production. 2020; 254 ():120197.

Chicago/Turabian Style

Sohail Ahmad Javeed; Rashid Latief; Lin Lefen. 2020. "An analysis of relationship between environmental regulations and firm performance with moderating effects of product market competition: Empirical evidence from Pakistan." Journal of Cleaner Production 254, no. : 120197.

Journal article
Published: 09 January 2019 in Sustainability
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A decade after the global financial crisis, the developments in stock market integration have increased the stability and liquidity of markets, and decreased the diversification benefits for investors. International trade is an important determinant of stock market interdependence. The objective of this study is to analyze the co-movements and the portfolio diversification between the stock markets of Pakistan and its top trading partners, namely China, Indonesia, Malaysia, the United Kingdom, and the United States. We employed Dynamic Conditional Covariance (DCC)-Generalized Autoregressive Conditional Heteroscedasticity (GARCH) methodology with student t-distribution to examine time-varying correlation and volatilities of stock markets of Pakistan and its trading partners. We used Morgan Stanley capital international (MSCI) daily returns data of developed and emerging markets for the period 2005 to 2018. The results of the study highlighted that stock markets of Pakistan and its trading partners were closely integrated during the financial crisis of 2008, while the integration among stock markets decreased substantially after the period of financial crises. Furthermore, the results showed the slow decay process. Therefore, it is a positive sign for the Pakistani and international investors to diversify their portfolio among the stock markets of Pakistan and its trading partners.

ACS Style

Ahmed Shafique Joyo; Lin Lefen. Stock Market Integration of Pakistan with Its Trading Partners: A Multivariate DCC-GARCH Model Approach. Sustainability 2019, 11, 303 .

AMA Style

Ahmed Shafique Joyo, Lin Lefen. Stock Market Integration of Pakistan with Its Trading Partners: A Multivariate DCC-GARCH Model Approach. Sustainability. 2019; 11 (2):303.

Chicago/Turabian Style

Ahmed Shafique Joyo; Lin Lefen. 2019. "Stock Market Integration of Pakistan with Its Trading Partners: A Multivariate DCC-GARCH Model Approach." Sustainability 11, no. 2: 303.

Journal article
Published: 07 January 2019 in Sustainability
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Corporate social responsibility (CSR) are the activities of firms that are not only considered for economic profit but also include the social welfare returns. To find the key drivers that affect the relationship between corporate social responsibility (CSR) and firm performance, we investigated the moderating effects of CEO power and ownership structure. Ownership structure is classified into two parts: managerial ownership and ownership concentration. We selected a sample of firms from eight manufacturing sectors of the Pakistani economy for the analysis. We collected data from the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Pakistan Stock Exchange (PSX), and companies’ annual reports over the period 2008 to 2017. We employed the Fixed Effects model and Generalized Method of Moment (GMM) to investigate the association between CSR and firm performance. The empirical analysis of this study highlights the following conclusions: First, CSR has a significant positive association with firm performance. Second, the relationship between CSR and firm performance shows the same results with the interaction of CEO power. Thirdly, interaction of the managerial ownership with CSR has a significant positive relationship with firm performance. Fourth, the interaction of the ownership concentration with CSR has a positive effect on firm performance.

ACS Style

Sohail Ahmad Javeed; Lin Lefen. An Analysis of Corporate Social Responsibility and Firm Performance with Moderating Effects of CEO Power and Ownership Structure: A Case Study of the Manufacturing Sector of Pakistan. Sustainability 2019, 11, 248 .

AMA Style

Sohail Ahmad Javeed, Lin Lefen. An Analysis of Corporate Social Responsibility and Firm Performance with Moderating Effects of CEO Power and Ownership Structure: A Case Study of the Manufacturing Sector of Pakistan. Sustainability. 2019; 11 (1):248.

Chicago/Turabian Style

Sohail Ahmad Javeed; Lin Lefen. 2019. "An Analysis of Corporate Social Responsibility and Firm Performance with Moderating Effects of CEO Power and Ownership Structure: A Case Study of the Manufacturing Sector of Pakistan." Sustainability 11, no. 1: 248.

Journal article
Published: 02 January 2019 in Sustainability
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Pakistan significantly contributes to the overall economy of South Asia, but, for many years, it has been facing a severe energy crisis. Despite the robust economic growth and a sharp increase in energy demand, no deliberate efforts have been made to meet the energy demand of the country. Similar to other developing countries, foreign direct investment (FDI) plays a key role in the economic development of this country. Pakistan receives FDI from many countries in various sectors of the economy. This paper aims to highlight the present situation of the power and energy sector of Pakistan (PESP), and empirically analyze the causality among the FDI in the power and energy sector, the energy consumption, and the economic growth of Pakistan for the period 1990–2017. The Johansen co-integration and Granger causality tests were employed to find the causal relationships among the variables of interest in the short-run and the long-run. The sector-wise flow of FDI reveals that the power and energy sector of Pakistan (PESP) has comparatively received a higher amount of FDI than other sectors of the economy in recent years. Furthermore, trends of energy production and energy usage reveal a substantial gap in previous years. The results confirm a positive bi-directional short-run causal relationship between economic growth and energy consumption. The results also reveal the presence of long-run causality in the equation of energy consumption. Considering the current situation of PESP, policy-makers should formulate policies to attain the minimum debt level and discourage loan-based investment. Such policies would be helpful to control the severe energy crisis and increase economic growth.

ACS Style

Rashid Latief; Lin Lefen. Foreign Direct Investment in the Power and Energy Sector, Energy Consumption, and Economic Growth: Empirical Evidence from Pakistan. Sustainability 2019, 11, 192 .

AMA Style

Rashid Latief, Lin Lefen. Foreign Direct Investment in the Power and Energy Sector, Energy Consumption, and Economic Growth: Empirical Evidence from Pakistan. Sustainability. 2019; 11 (1):192.

Chicago/Turabian Style

Rashid Latief; Lin Lefen. 2019. "Foreign Direct Investment in the Power and Energy Sector, Energy Consumption, and Economic Growth: Empirical Evidence from Pakistan." Sustainability 11, no. 1: 192.

Journal article
Published: 16 October 2018 in International Journal of Financial Studies
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The “One Belt and One Road” (OBOR) project was started by the Chinese government with the aim of achieving sustainable economic development and increasing cooperation with other countries. This project has five major objectives, which include (i) increasing trade flow, (ii) encouraging policy coordination, (iii) improving connectivity, (iv) obtaining financial integration, and (v) fortifying closeness between people. This paper aims to analyze the effect of exchange rate volatility on international trade and foreign direct investment (FDI) in developing countries along “One Belt and One Road”. We selected seven developing countries which are part of this project, namely Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. We collected panel data for the period 1995 to 2016 from the U.S. Heritage Foundation, International Financial Statistics (IFS) (a database developed by the International Monetary Fund), and World Development Indicators (WDI) (a database developed by the World Bank). We applied Generalized Autoregressive Conditional Heteroscedasticity (GARCH) (1,1) and threshold-Generalized Autoregressive Conditional Heteroscedasticity (TGARCH) (1,1) models to measure the exchange rate volatility. Furthermore, we employed a fixed effect model to analyze the relationship of exchange rate volatility with international trade and FDI. The results of this paper revealed that exchange rate volatility affects both international trade and FDI significantly but negatively in OBOR-related countries, which correlates with the economic theory arguing that exchange rate volatility may hurt international trade and FDI. It can be concluded that exchange rate volatility can adversely affect international trade and FDI inflows in OBOR-related countries.

ACS Style

Rashid Latief; Lin Lefen. The Effect of Exchange Rate Volatility on International Trade and Foreign Direct Investment (FDI) in Developing Countries along “One Belt and One Road”. International Journal of Financial Studies 2018, 6, 86 .

AMA Style

Rashid Latief, Lin Lefen. The Effect of Exchange Rate Volatility on International Trade and Foreign Direct Investment (FDI) in Developing Countries along “One Belt and One Road”. International Journal of Financial Studies. 2018; 6 (4):86.

Chicago/Turabian Style

Rashid Latief; Lin Lefen. 2018. "The Effect of Exchange Rate Volatility on International Trade and Foreign Direct Investment (FDI) in Developing Countries along “One Belt and One Road”." International Journal of Financial Studies 6, no. 4: 86.

Journal article
Published: 21 June 2018 in Sustainability
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China’s improving economic status is playing a vital role in the international race for soft power. The Chinese government has been investing considerably in the education sector in an attempt to attract international students from different countries by offering many scholarships each year. Scholarships cover tuition fees, medical costs, and provide a living allowance for students. The previously reported ambiguous results about this scholarship program needed to be confirmed. This paper examined the Chinese Government Scholarship program to determine the satisfaction level of international students with the program. We used a sample of 150 international students that were receiving this scholarship at different universities in Nanjing, Jiangsu Province, China. We used the Analytical Hierarchy Process to quantify the overall satisfaction level of the international students. Descriptive statistics were then used to analyze the responses of the international students about the Chinese Government Scholarship. The Chinese Government Scholarship significantly affected international students. Additionally, most of the students were satisfied with the scholarship program. We suggest that the Chinese government should continue the scholarship policy by improving the education system to enhance the learning environment for international students.

ACS Style

Rashid Latief; Lin Lefen. Analysis of Chinese Government Scholarship for International Students Using Analytical Hierarchy Process (AHP). Sustainability 2018, 10, 2112 .

AMA Style

Rashid Latief, Lin Lefen. Analysis of Chinese Government Scholarship for International Students Using Analytical Hierarchy Process (AHP). Sustainability. 2018; 10 (7):2112.

Chicago/Turabian Style

Rashid Latief; Lin Lefen. 2018. "Analysis of Chinese Government Scholarship for International Students Using Analytical Hierarchy Process (AHP)." Sustainability 10, no. 7: 2112.