Innovation is the primary driving force for development and the core of green, healthy, and sustainable economic development. This paper researches the spatial effect of absorptive capacity on regional innovation capacity from the perspective of knowledge spillover. We use the seven dimensions such as R & D intensity to build an absorptive capacity index evaluation system. After statistical verification, we select the most suitable empirical model, the dynamic Spatial Durbin Model with two-way fixed effect. The empirical results show that: (1) The promotion effect of absorptive capacity on knowledge spillovers in one province has no obvious effect on innovation promotion in other provinces, especially provinces at similar economic levels. However, it tends to inhibit the innovation development of neighboring provinces. (2) The impact of absorptive capacity on promoting knowledge spillovers varies from region to region. The eastern provinces of China are not affected by the absorptive capacity of neighboring provinces. The regression results of the central and western regions are not substantially different from the full sample. This study puts forward some policy suggestions based on the empirical results. It shows that a higher absorptive capacity does not mean better performance. The Chinese government should thus promote innovation in different provinces according to the local conditions.

This article explains the impact of the board secretary’s financial experience on the financing preference from the perspectives of executive behavior and psychology. We use small and medium-sized enterprises (SMEs) listed on China’s National Equities Exchange and Quotations (NEEQ) market as an empirical research sample and confirm that SMEs who have board secretaries with financial experience prefer external financing, thus lowering the investment-cash flow sensitivity. Additionally, the empirical conclusions are robust after changing the measurement of financing, expanding the scope of financial experience definition, and removing state-owned SMEs from the sample for robustness testing. We also control for the endogeneity using a placebo test, PSM-DID, and instrumental variables. In further research, we find that overconfident secretaries prefer external financing; secretaries with financial experience can reduce information asymmetry to promote external financing, albeit mostly short-term loans.

In recent years, urbanization has been developing rapidly. However, it is also accompanied by land management problems, such as low land use efficiency. In this research, we manage to explore the temporal and spatial evolution laws as well as characteristics of the coupling and coordinated development between urbanization and land use benefits. Through this, it is possible for us to provide policy recommendations for the sustainable development of the urbanization in Fujian Province. In this study, we take prefecture-level municipal districts and county-level cities in Fujian as the research subject. We construct an index system, based on data in 2002, 2005, 2010, 2015, and 2017, to evaluate the urban land use benefits and urbanization. Besides, we leverage the Gini coefficient weighting method to give weight to each index and calculate the value of its benefits. Moreover, it is the relative development degree and the coupling coordination degree model that we comprehensively leverage to study the spatiotemporal evolution law of the coupling coordination degree (CCD). The results show that: (1) Urban land use benefits and urbanization level are positively correlated with the regional administrative level and economic development status; (2) The CCD of urban land use benefits and urbanization level in various regions of Fujian is still low. However, the overall development direction is good; (3) From the perspective of spatial distribution, the CCD owns a “center-periphery” pattern that is based on the law of diminishing CCD power from three central cities of Fuzhou, Xiamen, and Sanming. Consequently, it requires governments to take action. Firstly, they should promote the intensive land use in the urbanization process. Meanwhile, they should also pay attention to ecological environment protection. Besides, it is recommendable to give full play to the radiating and leading effect of central cities on surrounding ones. Finally, they are required to provide appropriate policies and resource support to peripheral cities.