Manufacturing industry clusters contribute to the optimization of regional industrial structures and the improvement of economic growth efficiency. The role of inter-county carriers can further enhance the cluster effects of the manufacturing industry in Sichuan Province, promoting coordinated development across industries and accelerating the transformation of new productive forces. This study evaluates the degree of industrial agglomeration of the manufacturing industry in 183 counties in Sichuan Province. The results indicate that Sichuan's manufacturing industry exhibits a clear clustering effect, with a particularly pronounced structural agglomeration centered around Chengdu. However, economic development across counties in the province remains unbalanced. The Generalized Method of Moments (GMM) regression analysis confirms that total factor productivity (TFP) and industrial interlinkages exert a significant positive influence on the agglomeration of the manufacturing industry.
This study investigates the relationship between financial risk management, corporate social responsibility (CSR), and sustainable development within the petrochemical industry. The research aims to explore the impact of financial risk management practices on CSR initiatives and to assess how these factors collectively contribute to the long-term sustainability of petrochemical companies. A key focus of the study is the role that CSR plays in advancing sustainable development, particularly in sectors facing significant financial and operational risks. The research is applied in nature, offering practical insights for improving risk management strategies in petrochemical corporations. The study sample consisted of 130 experienced managers from the petrochemical industry, selected based on the number of items in the survey questionnaire. The measurement tool used was a researcher-developed questionnaire, which was designed following an extensive review of relevant literature and consultations with subject matter experts. To ensure the validity of the instrument, content validity was assessed, and reliability was confirmed through the calculation of Cronbach's alpha coefficient. Data were analyzed using Partial Least Squares (PLS) software, which revealed significant findings regarding the influence of financial risk management on CSR and sustainable development. The results underscore the crucial role of effective financial risk management in facilitating CSR initiatives and enhancing the sustainability of petrochemical companies. Additionally, CSR was found to positively affect sustainable development, with a particular emphasis on the integration of social activities, product and service innovation, and human resource management practices. It is concluded that prioritizing CSR, along with strategic financial risk management, is essential for achieving long-term sustainability in the petrochemical sector. These findings offer valuable insights for both academic research and industry practice, contributing to the development of more effective risk management frameworks in the context of sustainable development.
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