This study uses the annual financial data of Chinese A-share listed firms from 2010 to 2020 to investigate the relationship between multiple large shareholders (MLS) and earnings management (EM). After analyzing the samples using the Ordinary Least Squares (OLS) model and endogenous switching regression (ESR) model, the empirical results show that the presence of MLS can increase corporate EM activities and the MLS have a significantly positive effect on EM in both the treatment and control groups. In addition, this conclusion still holds after conducting multiple robustness tests. The cross-section analysis shows that the external audit supervision quality, institutional shareholders, and the uncertainty of the external economic environment have significant impacts on the baseline model results. Lastly, mediation effect analysis shows that the presence of MLS increases the corporate operating risk through EM activities. The conclusions of this paper are critical for policymakers to supervise China’s capital market, improve the level of corporate governance of China’s listed firms, and further promote reform of ownership structure.

Many previous studies find no significant effect of health insurance on health outcome in rural areas of China. Many researchers believe this could be because of the characteristics of health care provision in those areas. In this paper, we aim to examine if urbanization will change the situation. Our research question focuses on if urbanization will change the participation and performance of health insurance on health outcome in a positive direction. Using a longitudinal sample drawn from the China Health and Nutrition Survey (CHNS), we employed multiple estimation strategies for multiple waves to handle the potential selection bias. We find that urbanization factors such as population density, transportations and housing are associated with probability of insurance participation. That is, urbanization related factors tend to increase people’s willingness of insurance participation. We also conclude that urbanization improves the performance of insurance on self-reported health outcome. Results show that the health insurance has a significant positive impact on health production in urbanized areas. Health insurance in general increases the probability of health care utilization for all areas. However, it does not lead to a significant improvement in the health outcomes in under urbanized areas because of the health provision quality or characteristics of health insurance coverage in those areas.

The integration of digitalization and servitization has become a significant trend in transforming the manufacturing industry due to digital intelligence technology. This paper examines the impact of the integration of digitalization and servitization on the performance of manufacturing companies and how small-scale enterprises can promote digital transformation leading to servitization. The study involved surveying 331 manufacturing companies in China using a seven-point Likert scale questionnaire. Measurement scales were validated using confirmatory factor analysis and discriminant validity tests. Mediation analysis assessed digitalization’s impact on servitization and firm performance. The study’s findings emphasize the significant impact of digitalization and servitization on enterprises’ performance. Digitalization plays a crucial role in mediating this relationship. The study highlights three critical dimensions of digital variables, including digital technology, digital labor, and digital relationship resources, essential in enabling effective servitization. Manufacturing enterprises generally prefer aligning their technology investments and organizational changes within the digitalization framework to implement servitization successfully. The study suggests two integration strategies, namely conservative and aggressive. The finding emphasizes that the convergence of digitalization and servitization leads to a new manufacturing production mode called digital servitization.

Amidst China’s escalating aging population challenge, the efficacy and quality of private elderly care services are garnering increasing scrutiny. This research focuses on evaluating how service quality and customer perceived value influence the loyalty of elderly clients, with customer satisfaction acting as a mediating factor. Grounded in established service quality frameworks and loyalty theories, the study utilizes a quantitative methodology, administering surveys across eight private elderly care institutions in H city, China. A total of 600 surveys were collected, providing a comprehensive data set that encompasses five dimensions of service quality—tangibility, assurance, responsiveness, reliability, and empathy—as well as customer perceived value, satisfaction, and loyalty. Structural Equation Modeling (SEM) was employed to validate the hypothesized relationships. Findings reveal that service quality significantly boosts customer perceived value and satisfaction, which in turn markedly enhance customer loyalty. Notably, customer satisfaction emerged as a crucial mediator between service quality and loyalty, as well as between perceived value and loyalty. This study not only advances theoretical understanding of service quality impacts but also offers actionable insights for enhancing service delivery and customer loyalty in the context of private elderly care.

This paper examines the impact of the COVID-19 pandemic on financial inclusion in China, a country with a significant agricultural sector and an evolving digital landscape. The pandemic has accelerated the shift towards digital financial services, underscoring disparities in access. This study explores the pre- and post-pandemic scenarios of financial inclusion in China, evaluates the economic and social impacts of the pandemic, and assesses the role of digital transformation in the financial sector. It also investigates the changing roles of commercial banks and microfinance institutions, the integration of technology in finance, and the development of rural-urban economic linkages. The paper aims to propose strategies to enhance financial inclusion, ensuring it reaches the most vulnerable, and concludes with recommendations for creating a more equitable and robust economic system.