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15 September 2016, Issue 05 (0) Previous Issue    Next Issue

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Impact of Service Industry Structure on Collapse of City LI Jian-hua, WANG Zhen-quan, LI Jie 2016 (05):  1-11.  Abstract ( 255 )   PDF (1219KB) ( 907 )   From the standardization of the production process, the service industry is divided into two sectors:standardized and non-standardized service industry. we discuss the difference between the iceberg cost of two sectors. Then this paper establishes the theoretical model, analyzes the influence of the service industry structure on the "siphon" phenomenon in the city of our country. In this paper, we use the data of 1978-2014's 29 municipalities and provincial capital cities to make an empirical analysis of the model. The results showed that there was a significant "siphon" phenomenon in Beijing, Shanghai, Chongqing, Chengdu, Lanzhou and Urumqi. At the same time, the "siphon effect" caused by the non standardization service industry is greater than the "siphon effect" brought by the service industry. Urban planning should pay attention to the negative effect brought by the "siphon" phenomenon to the economic growth, through the adjustment of non-standardized services can be more effective to ease the city "siphon" phenomenon. References | Related Articles | Metrics

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Empirical Research and Measurement on Major Agricultural Products Circulation Modernization Level in China-Based on Provincial Panel Data from 2000 to 2014 ZHOU Dan, YANG Xiao-yu, JIANG Peng 2016 (05):  22-28.  Abstract ( 170 )   PDF (1104KB) ( 1036 )   On the basis of the provincial panel data on the circulation of agricultural products from 2000 to 2014, we measure the modernization level of agricultural products circulation from three indicators, namely the modernization of basic capacity, the modernization of development status and the modernization of circulation functions. Then we get conclusions that comparing with central and western areas, the development of circulation of agricultural products in eastern areas are much more stable and the modernization level of circulation are relative higher. According to the results of our research,the scale and efficiency to actively enhance the circulation of agricultural products, agricultural products circulation area or department to eliminate barriers and increase efforts in building agricultural products circulation patterns, which are targeted suggestions. References | Related Articles | Metrics

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Has ‘Survival of the Fittest’ Mechanism Dominated the Rating Market in China ZHANG Shao-zhe, ZHOU Jiu-jun 2016 (05):  29-40.  Abstract ( 220 )   PDF (1219KB) ( 1023 )   The reputation mechanism which can generate the pressure of ‘Survival of the Fittest’, is an important restriction to behavior of credit rating agencies. It is China's credit rating system which sacrifices the substance for the shadow and immature rating market, which not only hindered the formation of reputation mechanism but also provided space for CRAs to offer higher ratings. Based on above, this paper built up a model of equilibrium in rating conspiring market and proved that the market competition in credit rating market of China would lower the quality of credit ratings. And by taking Peng Yuan's entry into the credit rating market of quasi-municipal bond as a natural experiment, we found empirical evidences. Analysis shows that the vicious competition mechanism of ‘bad money drives out good money’ has dominated the credit rating industry. For suggestions, the Chinese government should reshape the restriction mechanisms for CRAs and built up a rating market dominated with reputation mechanism in the long run. As in short run, the government needs to enhance supervision and make a control on the market competition. References | Related Articles | Metrics

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Empirical Research on the Rationality of the GEM IPO Pricing LIU Qiang-qiang, HUANG Shun-wu 2016 (05):  41-52.  Abstract ( 218 )   PDF (1194KB) ( 1132 )   Based on the sample of 355 Gem listed companies from 2009 to 2012,this paper studies the rationality in the process of the Gem IPO pricing in our country by using VaR value at risk model and principal component analysis and efficiency value from two perspectives of enterprise internal value and market value at risk.The result indicate that market risk shall be incorporated in to the issue of IPO mechanism in order to improve the efficiency of pricing. It is found that the market risk has positive effect on the intrinsic value of the stock during the inspection period.The price of the share issue is difficult to reflect the value very well compared with the market price. When investors realize the value bubbles in the pr-ocess of IPO pricing, they would lead to lower yields on the first day, and even break. References | Related Articles | Metrics

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Chinese Retailing Format Transition Explained by Statistic Data From 2004 to 2013 CAO Hong-xing 2016 (05):  53-60.  Abstract ( 198 )   PDF (1170KB) ( 977 )   Chinese retailing format has been changed and transited since 2004, which emerging formats have developed quickly while traditional formats have adapted to the changing environment. Based on the macro-level statistic data from 2004 to 2013, this paper constructs a model of influencing factors to Chinese retailing format. By using factor analysis, the author finds that there are five main factors reflecting the whole environment. Then the paper makes a regression analysis between sales, assets, main business' profit and the five factors. The retailing formats are representative by Department store, Supermarket, Electronic appliance and electronics, Non-store retailing and Mailing and others. The paper finds that investment of transportation, warehouse and mailing is reverse relation with the three indicators. The possible reason is maybe that the investment diversified traffic leading to decentrality and variety of retailing format. Meanwhile, the variables related to investment all contribute to retailers' assets. The delivery volume plays a very direct positive role in the development of Non-store retailing, Mailing and others. References | Related Articles | Metrics

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How to Reasonably Determine the Executive Perquisites-A Research Based on Perspective of Corporate Governance JIA Jing 2016 (05):  61-70.  Abstract ( 218 )   PDF (1188KB) ( 1133 )   Executive perquisites is a common cost in companies' business. Nowadays the researchers found that the reasonable perquisites is useful for company's performance, but the unreasonable perquisites could hurt the performance, but how to reasonably determine the executive perquisites and business spending is still an open question. Take the perspective of corporate governance, the research shows that the encouragement and counterbalance of manager, the power and source of perks consumption have significant influence on executive perquisites, it is possible to determine the reasonable perquisites through those corporate governance characteristics. By using the empirical data of Chinese Main board Listed Companies from 2008 to 2013, this paper proves the reasonable perquisites has a significant positive correlation with company's performance, and the unreasonable perquisites has a significant negative correlation with company's performance, this result shows that the determination of reasonable perquisites limit from corporate governance perspective is efficient. It suggest that the stakeholders should pay attention to corporate governance's role on executive perquisites monitoring, reasonably determine the executive perquisites range and avoid the damage of performance by excessive perquisites. References | Related Articles | Metrics

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Media Coverage, Legal Environment and Social Responsibility Information Disclosur HUAGN Lei, ZHANG Ying, YE Yong 2016 (05):  71-79.  Abstract ( 214 )   PDF (1138KB) ( 947 )   Based on the related theory of social responsibility, this paper systematically studies the dynamic relationship among media coverage, legal environment and social responsibility information disclosure from different angles, to seek the functional mechanism of corporate external factors. The results of empirical research show that, Media negative coverage has a significant positive influence on CSR information disclosure, and it's helpful to improve the quality of CSR report. Good legal environment increases the level of CSR information disclosure. Media supervision is more effective in better legal environment, which reflected in the enhanced quality of CSR information disclosure. References | Related Articles | Metrics

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Availability of Infrastructure and People' Multidimensional Poverty in Special Type and Poor Area-Taking the Three Prefectures in Southern Xinjiang as an Example LIU Lin, LI Guang-hao 2016 (05):  80-89.  Abstract ( 189 )   PDF (1262KB) ( 969 )   This paper is based on 2013 Survey Organization of National Bureau of Statistics rural household survey data. We choose the 9 poverty indexes of 4 dimensions to study the impact of infrastructures to the multidimensional poverty and rural-urban difference by using bootstrap, and to empirically test the multidimensional poverty of different income group. The result shows that firstly, transportation, health and ecological infrastructures are responsible for reducing the multidimensional poverty. Secondly, infrastructures reduce the multidimensional poverty of farmers, but the impact to residents of a city is indefinite. What's more, the contribution ratio of transportation infrastructures to reduce the multidimensional poverty varies periodically, that of health infrastructures taper, and that of ecological infrastructures present inverted U-trend. Furthermore, Unsafety of society aggravates the multidimensional poverty, especially for low-income groups, and social spending has not significant correlation, the positive regression coefficients of which manifests that social spending increases the occurrence of the multidimensional poverty. Eventually, health infrastructures reduce the occurrence of the multidimensional poverty of middle-low income groups, but high income groups don't. References | Related Articles | Metrics

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The Effect and Evolution Rule of Urban Industrial Agglomeration on Urban Environment-based on test from 2003 to 2013 LIU Xi-ping, SHENG San-hua 2016 (05):  90-100.  Abstract ( 183 )   PDF (1361KB) ( 1171 )   We expand the STIRPAT model and calculate industrial agglomeration, comprehensive polluting index and environmental regulation level about 286 prefecture-level cities from 2003 to 2013, mainly discusses the effect of urban industrial agglomeration to the urban environment. Industrial agglomeration effects on urban environment not there are simple linear relationship of increasing urban pollution or reduce the pollution of the city, but there is a certain critical point, the empirical test shows that urban industrial agglomeration effects on urban environment present a "U" shaped the evolution law of industrial concentration degree of logarithmic 3.1161 as a turning point. Based on this, this paper puts forward the ecological industrial cluster development mode, including ecological industrial park development pattern and urban functional zoning development mode, which makes industry agglomeration in the process of promoting economic growth, but the pollution emissions doesn't increase, industrial agglomeration, economic growth and ecological environment in a benign interaction among them. In addition, the reasonable control of the urban population scale, improvement of environmental regulation level and optimizing the industrial structure is an important way to improve the urban environment. References | Related Articles | Metrics

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Research of the Green Governance Mechanism in the Western China-Based on the Case of Guizhou Province LIAO Xiao-dong, SHI Jun 2016 (05):  101-111.  Abstract ( 234 )   PDF (1143KB) ( 1020 )   In the transition period, the western china faces deep development issues. Nowadays, the contradictions between economic growth and ecological and the conflict between social construction and ecological protection is increasingly prominent. The existing development mode can not effectively solve the present difficulties. The development level of the western china is related to the realization degree of the goal to build china into a moderately prosperous nation in an all-round way. Under the guidance of the principle of the green development, building a way suitable for the development of the western china and realizing efficient, concerted, harmonious and sustainable development of economy, society and zoology is becoming a hot topic in the academic world. The green governance mechanism including government guidance, social autonomy, civic participation and law guarantee is a development way which multiple subjects took part in together. The green governance mechanism is the inevitable choice when economic development went into the state of new normal. Taking Guizhou province for example, this paper makes a description of the present situation, plight, meanings and basis of realizing the green governance in the western china. In addition, this paper analysis and discuss the operating mechanism of the green governance. References | Related Articles | Metrics