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AbstractBased on statistical data on 30 provincial administrative regions in China from 2000 to 2016, this paper conducts an empirical study of the impact of industrial agglomeration on haze pollution using the spatial Dubin model (SDM), spatial lag model (SLM), and spatial error model (SEM). The findings are as follows: (1) Industrial agglomeration can effectively reduce the degree of haze pollution. (2) Haze pollution has an inverted U-shaped relationship with economic development and population agglomeration. (3) The secondary industry has a positive correlation with haze pollution, while the tertiary industry can reduce haze pollution but not in an obvious manner. (4) The level of innovation and urbanization can help to reduce haze pollution, and the level of economic opening up and carbon dioxide emissions can exacerbate haze pollution. (5) Due to the insufficient commercialization of scientific and technological achievements, investment in science and technology is not obviously effective in preventing and controlling haze pollution. The relationship between environmental regulation and haze pollution is still unclear due to regional differences and the varied effectiveness of law enforcement. The study suggests that the government should guide industrial agglomeration in a reasonable manner, improve joint prevention and control across regions, and strengthen environmental regulation to prevent and control haze pollution.

"This is a post-peer-review, pre-copyedit version of an article published in Journal of Geometric Analysis. The final authenticated version is available online at: https://doi.org/10.1007/s12220-019-00251-x" ; The first author was supported by National Natural Science Foundation of China (Grant Nos. 11971431, 11401525), the Natural Science Foundation of Zhejiang Province (Grant No. LY18A010006), the first Class Discipline of Zhejiang - A (Zhejiang Gongshang University- Statistics) and the State Scholarship Fund (No. 201808330097). The second author was supported by National Natural Science Foundation of China (Grant Nos. 11671308, 11431011) and the independent research project of Wuhan University (Grant No. 2042017kf0209). The third author was supported by grant MTM2015-66157-C2-1-P (MINECO/FEDER) from Government of Spain

ABSTRACTWe seek evidence of a link between accruals-based earnings quality (EQ) and cost of capital by examining two classes of shares traded in China's segregated markets prior to 2001.The A- and B-shares introduced respectively for domestic and foreign investors carry identical cash flow rights, but B-shares are traded at deep discounts relative to A-shares. We predict that whereas the differential informedness of domestic versus foreign investors causes A- and B-share prices to diverge, high-quality public reporting serves to narrow the information and hence price gaps. Consistent with our predictions, we find that EQ is negatively related to the A-B share price differential and that the negative effect is more pronounced for firms with large disparities in informedness between the markets. We further find that this EQ effect vanishes after the new policy in 2001, which permits domestic investors also to trade B-shares and consequently reduces the inter-market information gap. By employing this unique setting, the study circumvents some of the research design limitations in prior studies, which enables us to better identify the pricing effect of accruals quality.JEL Classifications: M41; G12.