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15 January 2020, Issue 01 (204) Previous Issue    Next Issue

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A Study on the Spatiotemporal Evolution of Interprovincial Employment Patterns in China—Empirical analysis based on dynamic space Dubin panel model BO Na, YIN Li-song, HU Chang-yu, BIAN Guang 2020 (01):  1-8.  Abstract ( 413 )   PDF (1477KB) ( 729 )   Based on the panel data of 31 provinces in China from 1993 to 2017, this paper uses the method of moment statistics, exploratory spatial data, and the dynamic spatial Dubin panel model to study the spatiotemporal evolution of China's inter-provincial employment pattern. The results show that the evolution of inter-provincial employment pattern has the characteristics of polarization, spatial dependence and spatial stratification. Whether short-term or long-term, the dominant driving factors are industrial deviation, household deviation and economic disparity. Although industry, agriculture, exports and urbanization will affect the pattern, but they will not cause imbalances. In order to achieve a fully balanced development of the inter-provincial economy, the key is to implement the household registration industry layout, accelerate the reform of the household registration system, improve the social security system, steadily advance the transfer and acceptance of industrial location gradients, and promote the coordinated evolution of regional employment patterns. References | Related Articles | Metrics

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The Evolution of Human Capital Distribution across City in China: —Patterns and Determinants LI Qi, YAN Gong-cui 2020 (01):  9-20.  Abstract ( 398 )   PDF (1622KB) ( 754 )   This paper investigates the patterns and determinants of human capital distribution across cities in China. Using the population census data in 2010, we firstly discover the facts that the number of high skilled labourer decreases with the distance to the three major seaports. The growth of high skilled workers has the similar patterns. Secondly, we review and study the determinants of location choices in terms of economic facts, non-economic facts and moving costs. We use the location choice behavior of graduate students to study the role of non-institutional moving costs. The results based on the Conditional Logit Model shows that the graduates are more likely to work in cities near their hometown provinces and the cities where the graduate schools locate. The PHD graduates have higher elasticity to distance. The above conclusions give strong policy implication for the local governments. References | Related Articles | Metrics

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IPO System Reform, Earnings Management and IPO Pricing Efficiency GAO Jing-Zhong, YANG Zhao 2020 (01):  21-36.  Abstract ( 448 )   PDF (1838KB) ( 759 )   Taking China's A-share IPO company as a sample from 1993 to 2015, and examines the effect of China's previous IPO system reforms on the incremental reform of China's capital market IPO system, and further studies the earnings management. The mediating role played by the role of both. The study found that the reform from the quota management to the indicator management stage did not have a significant impact on the IPO pricing efficiency. The other stages of the reform effectively improved the IPO pricing efficiency in the short window period, and the IPO company's earnings management started in the process. It has reached a significant intermediary role. In addition, further research also found that the IPO system reform has reduced the IPO pricing efficiency in the medium and long-term window, and the IPO system reform has different effects on IPO pricing efficiency in different marketization regions and the bull market. The research in this paper provides a reference for strengthening the supervision of IPO company's earnings management during the IPO registration system reform process. References | Related Articles | Metrics

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Is Financial Openness Solving Systemic Financial Risks HE Jian, ZHENG Zhi-yong, ZHANG Meng-ting 2020 (01):  37-46.  Abstract ( 422 )   PDF (1646KB) ( 911 )   This paper constructs a systemic financial risk indicator system composed of financial open indicators and different risk surfaces. Through the time-varying parameter structure vector autoregressive model, it analyzes the impact of financial openness on China's systemic financial risk and the internal conduction effect of systemic financial risk. The conclusions of the study show that financial openness effectively suppresses macroeconomic and monetary flow risks in systemic financial risks, but it exacerbates the accumulation of external market and asset bubble risks, and has a tendency to further expand adverse effects in the near future; there is a transmission mechanism within systemic financial risks. And the risks will be affected in the same direction, and the diffusion effect will be obvious. According to the current complicated economic situation and open conditions, China should combine deepening financial openness with preventing systematic financial risks, and promoting the all-round and orderly opening of the financial industry is an active choice for preventing and defusing systemic financial risks, also is an important measure of risk digesting channels. References | Related Articles | Metrics

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Can Corporate Foreign Investment Behavior Improve China's Factor Market Distortion: theoretical analysis and Mechanism LI Shao-kai, QUAN Shi-fan, ZHANG Guang-lai 2020 (01):  47-58.  Abstract ( 367 )   PDF (1885KB) ( 753 )   The foreign investment behavior of enterprises has undoubtedly created important opportunities and external conditions for the adjustment and rational distribution of China's factor market structure. This paper uses the micro-enterprise data from 2000 to 2009 to construct a dynamic measurement model and examines the impact of corporate external investment behavior on factor market distortion through a two-step system GMM method. The study found that corporate foreign investment behavior effectively reduced the distortion of China's factor market and improved the utilization efficiency of the overall factor resources of the market. The results of market factor decomposition test, IV-2SLS estimation and sample period segmentation test are still robust. This paper further tests the mechanism of foreign investment behavior to the distortion of factor market through the mediation effect model which finds that the foreign investment behavior of enterprises mainly solves the distortion of the factor market in China by accelerating the process of "too excess capacity" and marginal industrial transfer and improving the productivity of domestic enterprises. Large-scale "going out" of enterprises can effectively resolve excess capacity and "return" the domestic market. This is also the reason for seeking new economic growth points of China's new round of reform and opening up. References | Related Articles | Metrics

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The Impact of Technological competence on Product Innovation with the Moderation of Political competence and Start-up Experience MENG Jun-ben 2020 (01):  59-67.  Abstract ( 331 )   PDF (1313KB) ( 753 )   Based on the perspective of resource orchestration theory, explore the impact of technological capabilities on product innovation, as well as the moderating effects of entrepreneurial skills such as entrepreneurial political competence and start-up experience. Using 281 new ventures from the Yangtze River Delta, Pearl River Delt and Tianjin-Beijing Region as the research objects, the article found that there is an inverted U-shaped relationship between technological capabilities and product innovation. There is a threshold for the impact of technological capabilities on product innovation of new ventures. Above this level, the innovation benefits of technological capabilities begin to decline; Entrepreneurial competencies such as political competence and start-up experience have a moderating effect on the relationship between technological capabilities and product innovation, and help to strengthen the innovative benefits of technological capabilities. The results also show that technological capabilities and entrepreneurial skills levels are key factors influencing the efficiency of resource management in new ventures. References | Related Articles | Metrics

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Is Green Finance a “Double-Edged Sword” for Risk-Taking of Commercial Banks? —Quasi-Natural Experimental Research Based on China's Banking Industry SHAO Chuanl-in, YAN Yong-sheng 2020 (01):  68-77.  Abstract ( 417 )   PDF (1438KB) ( 826 )   Based on the panel data of Chinese Joint-stock Banks, City Commercial Banks and Rural Commercial Banks from 2005 to 2017, the paper uses the difference-in-difference model to empirically examine the impact of green credit on the risk-taking for commercial banks. The research results show that, in the short term, Commercial banks' green credit business will increase their bankruptcy probability. However, based on the dynamic test, it can be found that, green credit has a lagging positive effect on risk-taking of commercial banks; The effect of green credit on bank risk-taking is obviously heterogeneous; The higher the political level of commercial banks, the greater the impact of green credit on their risk-taking; Compared with non-listed banks, the effect of green credit on listed banks is greater; In addition, there is no evidence that there is a significant difference in risk-taking between rural commercial banks and urban commercial banks in the implementation of green credit. References | Related Articles | Metrics

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Research on Information Sharing Strategy of Low Carbon Supply Chain in the Environment of Macro-control and Economical Scale CAI Lu, FENG Yan-fei, LIU Ai-jun 2020 (01):  78-86.  Abstract ( 300 )   PDF (1539KB) ( 884 )   Based on the research of relevant theories and the main body and content of low carbon supply chain information sharing, this paper proposes a low carbon supply chain information sharing strategy based on blockchain big data. The supply chain network system, information sharing model and information flow hierarchy based on blockchain technology are constructed. The blockchain technology is used to improve the convenience, security and integrity of information sharing within the low carbon supply chain. Based on the information coupling theory, the information sharing coupling degree index is established to evaluate the practical application effect of the information sharing strategy. The statistical sample data shows that the information sharing degree in the low carbon supply chain is improved, which can reduce the total production value within the supply chain, and promote the overall efficiency of the supply chain and improve the operational efficiency. References | Related Articles | Metrics

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Discussion on the Prevention and Control of the Return to Poverty under the Background of Rural Revitalization —From the Perspective of Government and Farmers LAN Ding-song 2020 (01):  87-93.  Abstract ( 412 )   PDF (1276KB) ( 870 )   There are many factors for poverty. The prevention and control of the return to poverty requires that the root causes be accurately aimed at and precise efforts be exerted from multiple perspectives. From the government's point of view, the backslide to poverty mainly results from the causes including the lack of follow-up policy support, the "performance orientation" in poverty alleviation, the lack of endogenous motivation in the methods of poverty alleviation and the market risks encountered in the "Three Changes" reform. For farmers, their "lazy thinking", their own quality and belief, force majeure factors, and failure in employment and entrepreneurship may also lead to the return of poverty. Therefore, we should change the ways of poverty alleviation by means of funds and materials, prevent the backslide to poverty with industrial support, further improve the rural cooperative medical system and the practice of poverty alleviation by education, and coordinate the government's assistance resources so as to achieve the common development in poverty alleviation. At the same time, we should construct multi-dimensional anti-poverty measures by stimulating the endogenous motive force of the poor people, curbing foolishness, supporting intelligence, and strengthening the cultural construction of the township sages. References | Related Articles | Metrics

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Research on the Livelihood Capital and the Choice of Livelihood Strategy of Ecological Immigrants —From the Perspective of Livelihood Capital in Urban Centralized Resettlement Mode JIN Lian, WANG Yong-ping 2020 (01):  94-102.  Abstract ( 335 )   PDF (1324KB) ( 703 )   Based on the framework of sustainable livelihood, this paper discusses how the livelihood capital of ecological immigrants affects the livelihood risk and how to make the choice of livelihood strategy. It is found that the basis of avoiding livelihood risk and choosing suitable livelihood strategy is to enhance and optimize the livelihood capital of ecological immigrants, and then achieve the livelihood goal and achieve sustainable development. Therefore, we should find ways from the policy level to increase the amount of livelihood capital, especially financial capital and human capital. References | Related Articles | Metrics

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Social Class: A Literature Review—A Study Based on the Evaluation Indices LOU Shi-yan, LU Jia-di 2020 (01):  103-110.  Abstract ( 382 )   PDF (1242KB) ( 925 )   This paper reviews the Western and Chinese literature on social class evaluation indicators from the perspectives of the definition of social class, social class evaluation indices, achievements of social class evaluation indices and deficiencies of social class evaluation indices. The study finds that the selection of evaluation indices affects the results of social class division and the understanding of social structure changes. Related research in China has made many achievements, forming a social structure theory with Chinese characteristics. Meanwhile there are still some problems such as simple division criteria and division basis making the results incomparable. Therefore it is necessary to establish a scientific, rational, dynamic, and applicable evaluation index system. References | Related Articles | Metrics