This study proposes a multi-agent evolutionary game model to optimize carbon pricing mechanisms in electricity markets under carbon neutrality constraints. By simulating strategic interactions among power generators, regulators, and consumers, we analyze how dynamic carbon pricing affects investment decisions, emission reductions, and market stability. The model incorporates heterogeneous agents with adaptive learning behaviors, including coal-fired plants (cost minimizers), renewable energy firms (innovation seekers), and policymakers (emission cap enforcers). Using China’s power sector as a case study (2020–2040), our simulations reveal that a hybrid carbon pricing mechanism—combining a floor price with tradable green certificates—achieves Pareto efficiency, reducing cumulative emissions by 34% while maintaining grid reliability. Sensitivity analysis identifies critical thresholds: when carbon prices exceed $80/ton, coal-to-renewable transitions accelerate nonlinearly. The findings provide a computational toolkit for designing adaptive carbon markets aligned with net-zero transitions.

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This study investigates how institutional distance shapes the location choices of China’s outward foreign direct investment (OFDI) in Belt and Road Initiative (BRI) partner countries. By extending the traditional gravity model with institutional variables, we analyze panel data from 63 BRI countries (2005–2022) to assess the nonlinear effects of formal and informal institutional gaps. Results indicate that moderate formal institutional distance (e.g., regulatory frameworks) positively influences OFDI, reflecting Chinese firms’ strategic arbitrage capabilities, while excessive informal institutional distance (e.g., cultural norms) acts as a deterrent. The model further reveals heterogeneous effects across state-owned enterprises (SOEs) and private firms: SOEs prioritize political proximity, whereas private firms leverage market-seeking motives in institutionally distant regions. These findings refine institutional theory in emerging economies and provide actionable insights for cross-border investment policy formulation.

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This study examines the relationship between organizational slack resources and disruptive innovation, with a focus on the moderating effects of absorptive capacity and executive risk appetite. Drawing on resource-based view (RBV) and dynamic capability theory, we hypothesize that different types of slack (financial, human, and operational) exert heterogeneous impacts on firms’ ability to pursue radical innovation. Using panel data from 1,200 technology firms across 15 countries (2010–2022), we employ hierarchical regression and three-way interaction models to test our hypotheses. Results reveal that human resource slack positively drives disruptive innovation, while financial slack exhibits an inverted U-shaped relationship. Absorptive capacity amplifies the innovation-enhancing effects of operational slack, whereas executive risk appetite moderates the link between financial slack and innovation outcomes. The findings advance scholarly understanding of slack resource allocation strategies and provide actionable insights for managing innovation portfolios in volatile markets.

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This study evaluates the poverty alleviation impact of rural inclusive finance under China’s Rural Revitalization Strategy, employing a Propensity Score Matching-Difference-in-Differences (PSM-DID) approach on panel data from five western provinces (2015–2022). By distinguishing between treated (villages with inclusive finance interventions) and control groups, we quantify the causal effects of financial inclusion on household income, consumption, and multidimensional poverty indices. Results indicate that inclusive finance reduces the poverty headcount ratio by 12.3%, with stronger effects in regions with higher digital financial penetration. Mechanism analysis reveals that improved access to credit and insurance products mediates poverty reduction, particularly for households engaged in agricultural entrepreneurship. The findings underscore the synergistic role of inclusive finance and rural revitalization policies, offering actionable insights for policymakers to optimize financial inclusion programs in underdeveloped regions.

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