The Impact of the Belt and Road Initiative on the Capital Market of Chinese Listed Companies: From the Perspective of Sustainable Development
Bibliographic record
Abstract
This paper primarily investigates the microeconomic impacts of the Belt and Road Initiative.Utilizing the principle of natural experimentation and a sustainable development perspective, we employ the Difference in Differences model with Multiple Time Periods to analyze the influence of the Belt and Road Initiative on corporate capital market performance.The study reveals that, in the capital market, firms directly investing in Belt and Road countries tend to outperform their counterparts investing in non-Belt and Road countries.Specifically, these firms demonstrate enhanced stock liquidity, a finding that maintains robustness upon further analysis.Delving deeper, the research uncovers that non-state-owned enterprises, as compared to state-owned enterprises, display more significant capital market performance when they directly invest in Belt and Road countries.In other words, the improvement in stock liquidity is more pronounced for these firms.In a world increasingly focused on sustainable development, this study can effectively guide investment strategies and contribute to the formulation of Chinese policies.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.001 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".