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15 November 2016, Issue 06 () Previous Issue    Next Issue

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Recognition of Demographic Dividend: the Origin, the Structure and the Mechanism LI Jian-min 2016 (06):  1-6.  Abstract ( 265 )   PDF (530KB) ( 943 )   The content is from the origin and the perspective of structure point of view to analyze the first demographic dividend and the structural features of the second demographic dividend. Furthermore, the author is from various angles to see whether the first demographic dividend of China has disappeared to make judgments, the judgments would be made by seeing from various angles of whether the first demographic dividend of China has disappeared. The essay would also establish more flexible and competitive labor market, the human capital investment system, the motivation of social pension system,the aspects of completeness of capital markets and fairness,and distribution system of reasonable income have all been discussed, that leads to discussion of the implementation mechanism of the second demographic dividend. Related Articles | Metrics

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Government monopoly supply, dislocation of land structure and welfare loss GAO Xiao-na 2016 (06):  7-16.  Abstract ( 255 )   PDF (616KB) ( 906 )   This paper mainly studies the impact of the existing land institution on the land structure and social welfare. Through the analysis of the change of construction land structure and the comparison between China and other countries, we found that the proportion of residential land in urban construction land is too low, the proportion of industrial land is too high. The paper further discusses the causes of the current land structure by constructing a two sector model. The main conclusions of the study are as following:(1) After the establishment of the monopoly land institution, the allocation of land resources tilt to the industrial sector:the land factor inputs of real estate sector decreased, the land factor inputs of industrial sector increased. Under the monopoly land institution, the social welfare level has declined, and the higher the degree of monopoly, the greater the welfare loss. Related Articles | Metrics

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Government Intervention, Financial Agglomeration and Regional Technical Progress LI Sheng-qi, DENG Xi-ling 2016 (06):  17-25.  Abstract ( 184 )   PDF (585KB) ( 835 )   Financial agglomeration works as a powerful force driving the technical progress. Its establishment and development are deeply affected by the government. This paper expounds how government intervention affects the technical progress effect of financial agglomeration, summarizes its mechanism, and makes empirical tests using both static and dynamic panel models. Results show that China's financial agglomeration has a significant and steady upward trend, however, only when the government factor is added, can the partial effect of financial agglomeration to technical progress be positive, meanwhile its promoting effect weakens over time. Sub-index regression results show that, different from the positive effects of administrative market entry barriers, labor mobility control and financial suppression, the expansion of government spending scale fails to improve the technical effect of financial agglomeration. Sub-sample regression in terms of different regions reveals that government intervention shows more positively and potentially in the middle and east regions with lower degree of government intervention. This would help to provide a useful reference for a reasonably government force and financial agglomeration. Related Articles | Metrics

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An Exploratory Research on the Clues of B2B Brand Image-Based on Content Analysis of Web Reviews and Interviews LU Hong-liang, ZHANG Yan 2016 (06):  26-40.  Abstract ( 215 )   PDF (758KB) ( 875 )   In the process of B2B marketing, the role of brands has become more evident. A positive brand image will help to form a good impression in the mind of buyers and thereby affect their purchase intentions. The clues of brand perception are some effective approaches for buyers to perceive the brand attributes of suppliers. In this study, Network Ethnography is used to make the content analysis of buyers' comments for the suppliers on the Internet, and extract 83 conceptual clues and 21 categories. Ultimately, seven core categories which are product image, service image, staff image, the user image, the network image, social image and corporate image are summarized. The paper reviews the relationship between the seven classes, and verifies that the corporate image can lead the other images through interviews in the final. Related Articles | Metrics

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Research on the influence of non-commission manufacturer's product-harm crisis to Private Brand TONG Xiao-jun, LAI Jun-ming 2016 (06):  41-51.  Abstract ( 203 )   PDF (695KB) ( 868 )   Retailers' different strategies on packaging appearance, supplier name and producing area will make the difference between the impact of product-harm crisis from non-commission manufacturer when they develop private brand, but the impact of product name is not significant. The research shows that the perceived quality of non-imitation of national brand's packaging appearance, or commissioning famous manufacturer or selecting superior producing area is better than the opposite strategy, and the imitation strategy is easy to let contagion effect, but the non-imitation strategy is easy to let contrast effect. In addition, the higher reputation strategy of supplier name or producing area has positive impact on spillover effect which reducing negative influence of crisis under contagious spillover effect, increasing consumers' positive evaluation of perceived quality under contrast spillover effect. Related Articles | Metrics

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Acquisition of Intangible Resources, Information Asymmetry, Agency Problems and Governance Mechanism-The study on Chinese Enterprises' overseas M&A based on Principal Agent Theory WEI Tao 2016 (06):  52-61.  Abstract ( 231 )   PDF (602KB) ( 1117 )   In recent years, the activity of Chinese Enterprises' overseas M&A continued to be active, from the point of view of M&A motivation, it is a main objective to acquire the excellent intangible resources of target companies through overseas mergers and acquisitions business in developed countries. However, the activities of Chinese enterprises' overseas M&A faced a serious conditions of asymmetric information, involved multiple-principal-agency relationship in the process of integration with the target company, presented a crossed-border multi-link principal-agency chain. All these factors make Chinese enterprise face more agency problems in the process of obtaining the intangible resources. In order to prevent and solve the risks caused by proxy issues effectively, Chinese government and enterprises should further smooth information communication mechanism of Chinese and foreign parties form the macro and micro levels respectively, improve and strength incentives and supervision measures to each agent through improving the corporate governance mechanism, build an effective function transmission mechanism in the long transnational agency chain, get the goal of reducing the agency cost, preventing and resolving potential risk ultimately. Related Articles | Metrics

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Research on the stage competitiveness of China's equipment manufacturing industry ZHANG Hua-ming, WANG Xiao-lin, ZHANG Cong-cong, FAN Ying-jun 2016 (06):  62-72.  Abstract ( 225 )   PDF (655KB) ( 842 )   Based on the Porter's "the diamond model" and the theory of industry stages competence, the paper constructs the competitiveness evaluation index system of China's equipment manufacturing industry. Combined with the relevant data of 30 provinces and cities in 2005,2009 and 2014, it uses principal component analysis and multiple regression to the positive research on the competitiveness of China's equipment manufacturing industry.The paper points out that China's equipment manufacturing industry is still in the stage of the accumulation of growing up, it means primary factors of production in scale expansion, advanced factors of production continue to accumulateand. The lack of advanced factors of production and the weakness of capacity for independent innovation are the main factor which hinder its improvement.We should pay attention to speed up the development advanced equipment manufacturing industry, accelerate the transformation of development pattern,increase the inputs of high-level factors of production. Related Articles | Metrics

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A study on the relationship between commodity finance and industry security based on the perspective of capital effect LIU Jie-ping 2016 (06):  73-81.  Abstract ( 192 )   PDF (533KB) ( 834 )   The return of real estate development, its security is mainly determined by the external impact can be achieved through the rapid adjustment of the self adjustment and return to balanced development track, if the physical product has received a large degree of external funding, natural can not only through self adjustment and get rid of the crisis, it must be determined whether the security of the external threat, that is, commodity finance has an impact on industry security, which means that the degree of commodity finance more and more attention to the safety of their own industry. In the future, we should realize the high tech features of industrial development through the improvement of self innovation ability, based on the geographical advantages of China's raw materials market, actively develop a number of new industries, construct the social service system, and constantly improve the social service level of the industry. Related Articles | Metrics

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Green Productivity and Spatial Spillover: An Empirical Analysis Based on Major Chinese Cities ZHANG Hao, HE Yu, ZHANG Jian-hua 2016 (06):  82-90.  Abstract ( 203 )   PDF (673KB) ( 881 )   This paper uses SBM directional distance function and Malmquist-Luenberger index approach to measure green TFP of China's major cities, and analyzes the influence factors. We apply SDM to analyze the spillover of urban green TFP and its influencing factors. The major conclusions are as follows:Green TFP growth is mainly composed the contribution of frontier technology progress, environmental technology efficiency improve relative lag. Green TFP shows that 66 city's differences in China, but there's a space overflow effects. Human capital has both spatial and local spillover effect on green TFP growth, while R&D only has spatial effect on green TFP and the local effect is insignificant. Related Articles | Metrics

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China's Green Total Factor Productivity and Regional Differences-An Empirical Research Based on Panel Data from 30 Provinces XU Xiao-hong, WANG Xia 2016 (06):  91-98.  Abstract ( 266 )   PDF (677KB) ( 1128 )   Green total factor productivity(GTFP)is the key to realize green economic and environmental win-win development. Applies Malmquist-Luenberger index of directional distance function to measure green total factor productivity and its components of China's 30 provinces and two areas, three areas and four areas over the period 2000-2014 while taking into account the factors of energy consumption and environmental pollution. The result shows that the GTFP has an average annual growth rate of 1.3% and the green technical progress is the main source. The GTFP has larger difference at the provincial level and the provinces of fastest growth rate have Tianjin, Shanghai, Beijing, Jiangsu and Zhejiang. The regional green economic growth shows significant heterogeneity in different space scale selection criteria. Related Articles | Metrics

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Infrastructure Investment Efficiency and Its Spatial and Time Spillover Effect in the Three Gorges Region DING Huang-yan, LIAO Yuan-he 2016 (06):  99-108.  Abstract ( 208 )   PDF (740KB) ( 803 )   Infrastructure construction is the first condition for economic growth, and also the necessary measures for the government to support economic development of the poor regions. Through the research of data envelopment analysis and dynamic spatial lag model in Three Gorges region, this paper discusses the infrastructure investment efficiency and its spatial and time spillover effect. The results demonstrated that the infrastructure investment efficiency overall has improved significantly, but some poor regions' infrastructure investment efficiency may be at a low level equilibrium trap. Infrastructure investment efficiency has significant positive spatial and time spillover effect, which has significant dynamic promotion and spatial coordination. The time spillover effect of infrastructure investment efficiency is more prominent in advantageous region, and the spatial spillover effect of infrastructure investment efficiency is obvious in disadvantageous region. Based on the above conclusions, the key to the further improvement of infrastructure investment efficiency in the Three Gorges region is to break the coordination failure and improve the space allocation. Related Articles | Metrics