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15 May 2017, Issue 03 () Previous Issue    Next Issue

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Skill Loss, Learning by Working and the Persistence of Unemployment CHEN Li-feng 2017 (03):  1-14.  Abstract ( 260 )   PDF (1630KB) ( 245 )   Unemployment shows long persistence in China' economy. This paper considers a NK-DSGE model with skill loss and learning by working, and analysis the mechanism of unemployment persistence. The result argues that: (1)negative technology shock has much larger impact on low skill labors; (2)skill loss and learning by working changes the skill composition of unemployment and the persistence of unemployment, that is: the larger of the skill loss probability, the more persistence of unemployment; and the larger of skill upgrading, the less persistence of unemployment. Further, by skill training to alleviate the effect of skill loss and promote the effect of learning by working maybe helpful for alleviating the problem of unemployment persistence. References | Related Articles | Metrics

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A Study on the Impact of “Total Two-Child” Policy on the City Staff Basic Pension's Public Funds Expenditure Ability Xiao Cai-bo, Deng Da-song 2017 (03):  15-24.  Abstract ( 214 )   PDF (1591KB) ( 143 )   With the implementation of "Total Two-Child" policy, the paper analysis the impact of this policy on the city staff basic pension's public funds expenditure ability, and to explore the effect of changed population policy on resolve pension expenditure crisis. The research shows that the "Total Two-Child" policy could not delay the deficit time of current yield, but may remit the expenditure pressure effective, resolve the crisis of pension expenditure. A suitable environment is necessary to support the effect of "Total Two-Child" Policy, by a further more analysis on sensitivity of parameter, the result shows that compliance rate and pension growth rate are more sensitivity to public fund expenditure ability than contribution rate, it also means that the possibility to reduce the enterprises' social contribution burden. References | Related Articles | Metrics

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The Impaction of Housing and Housing Price on Household Consumption——Based on Conditional Quantile Regression He Cui-xiang, Yan Bing, Fang Xing-ming 2017 (03):  25-33.  Abstract ( 220 )   PDF (1041KB) ( 181 )   Based on CHFS2011, this paper separately estimated the impaction of housing and housing price on living consumption and non-living consumption. We found that the housing price through the wealth effect stimulated living consumption and non-living consumption for the families which owning house. However, the housing price reduced household consumption through the substitution effect for the homeless families. Specifically, in the entire consumer distribution, the housing price increased family consumption with a "U" shape positively whereas decreased the non-living consumption gradually. The variables of household income, educational level and rural-urban distributions are significantly influenced the family consumption. However, there are some differences of the dependency ratio on the family consumption between living consumption and non-living consumption. References | Related Articles | Metrics

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Job Consumption: Compensation or Benefit Expropriation Sun Feng-e, Su Ning, Wen Xiao-fei 2017 (03):  34-43.  Abstract ( 225 )   PDF (1193KB) ( 141 )   Perks have double-edged sword effect of compensation and benefit expropriation, the direction and degree of its influence on enterprise performance depends on the game result of these two forces, and the two types of effects' play are affected by the explicit incentive level of management and management rights. Based on explicit incentive level and management rights norm, this paper discussed the double-edged effect of perks in different situations, and find that: ①At the situation of the explicit incentive level is lower, perks can effectively improve business performance and the compensation effect is more significant. ②At the situation of the management rights is stronger, perks reduces the corporate performance and the benefit expropriation effect is more significant. ③Compared to private enterprise, perks of state-owned enterprises have bigger compensation effect. References | Related Articles | Metrics

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Research on influence of career success on demission intention——The moderating effect of the golden mean Hao Jin-lei, Jiang Shi-yao 2017 (03):  44-50.  Abstract ( 223 )   PDF (910KB) ( 155 )   Combined with Chinese culture and social context, the purpose of this article is to study the internal mechanism of the impact of career success on demission intention and to explore the moderating effect of the the golden mean between them. Based on the micro survey data, a hierarchical regression analysis model was established. It shows that career success has a significant negative impact on turnover intention, in the relationship between career success and turnover intention, the golden mean has a significant positive moderating effect. According to the above research conclusions, we put forward the countermeasures and suggestions to reduce staff demission rate. References | Related Articles | Metrics

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A Study on the Business Model for Product Crowdfunding in the Context of China Lu Chen 2017 (03):  51-59.  Abstract ( 231 )   PDF (1396KB) ( 140 )   In 2016, "Crowdfunding" as one of the concept of "four public platforms",has been, for the first time, written into the prime minister Li Keqiang's annual report to the CPPCC. In China, "product crowdfunding" has been the main form of Crowdfunding. However, in reality, there are still a lot of problems with it, such as low success rate, less amount financed, lack of continuity and so on. This paper argues that, the main cause of these problems is a lack of research on the business models of product crowdfunding. Based on the review of product crowdfunding and business model theory, this paper sum up the general structure of the business model and took Xiao Niu Electric Bicycle as an example to illustrate such business model. Finally,this paper extends the model to different periods of an enterprise's life cycle, and modifies the main structure of the model. References | Related Articles | Metrics

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The adequacy of corporate social responsibility information research DU Jian, WANG Zhao, LIU Xiao-yan 2017 (03):  60-69.  Abstract ( 194 )   PDF (1390KB) ( 171 )   Corporate information disclosure of social responsibility based on multiple causes. And to ensure their own interests, the listed companies have adverse select favorable message and hidden the bad information. This kind of behavior makes stakeholders get insufficient and inaccurate information, and lead to the wrong economic judgment which causes economic problems. Therefore, researchers aiming at the improvement of the social responsibility information disclosure system and the improvement of the quality of social responsibility information has important theoretical and practical significance. This article analyzes social responsibility information disclosure content of the listed companies in the Shenzhen Stock Exchange and the Shanghai Stock Exchange through 2012 to 2014 by statistical analysis. And we want to explore the present situation of corporate social responsibility information disclosure which is considered to be inadequate, and to explore the way to improve the policy. This article aims to provide reference for the construction of our country corporate social responsibility information disclosure mechanism. References | Related Articles | Metrics

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Spatial Econometric Analysis of Chinese Financialization and Urbanization——based on direct and indirect effects Jiang Song, Wang Zhao, Liu Han 2017 (03):  70-83.  Abstract ( 240 )   PDF (1867KB) ( 215 )   Based on the theoretical analysis of the financialization's impact on urbanization mechanism, a spatial econometric model is established by using the panel data of China's provinces and the method of decomposition of direct and indirect effects to explore the financialization's impact on urbanization and its characteristics in a region and its adjacent areas. It is found that the impact of financialization on urbanization in the region has the characteristics of inverse "U" type. When the level of financialization does not reach the top of the "U" curve, the impact of the financialization on urbanization in the region is significantly positive. When the level of financialization reaches the top of the "U" curve, its negative effect will begin to show. But it is worth noting that though the non-linear features are not obvious, there is a significant linear negative relationship in financialization's impact on urbanization in neighboring regions, which will restrict the development of urbanization. In addition, the impact of two control variables—industrialization and agricultural human capital—on the urbanization of the region and neighboring regions is significantly positive. References | Related Articles | Metrics

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Analysis of Venture Capital Institutions' Preference in Internet Finance platforms Li Xian-ling, Wang Yan 2017 (03):  84-92.  Abstract ( 210 )   PDF (1336KB) ( 189 )   As one of emerging industries, internet finance platforms were often lack of funds. So it was critical to obtain the venture capital for overcoming the capital bottleneck. In order to guide venture capital in internet finance industry, this paper adopted the real options methods to analyze the preference of venture capital institutions in internet finance industry. We found that the increasing of the demand drift rate and government favorable policies will have a positive impact on the opportunities that Internet finance platforms obtain the venture capital investment. While the higher the demand volatility and risk-free interest rates are, the smaller the chance of getting venture investment is. Therefore, some measures should be taken to provide the internet finance platforms with sufficient funds. On the one hand, platforms must strengthen their own business innovation, improve the internal management level, and standardize their operation behavior in order to maintain the steady growth of business. On the other hand, the support and guidance from government are also important. References | Related Articles | Metrics

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Local Fiscal Decentralization, Selective Transfer of Rural Labor Force and Investment in Rural Elementary Education DENG Meng-zhi 2017 (03):  93-100.  Abstract ( 213 )   PDF (1015KB) ( 159 )   Under the existing education system the county (municipal) government takes primary responsibility for development of rural elementary education, sub-provincial fiscal decentralization have major impact on local investment in rural elementary education; and interregional selective transfer of rural labor force have made local investment in rural elementary education with strong externalities. Using panel data of 108 counties (municipals) from 2007 to 2013 in Henan Province, this paper empirical test the impact of local fiscal decentralization and selective transfer of rural labor force on rural elementary spending of counties(municipals) government. The study shows that sub-provincial fiscal decentralization significantly reduces local government spending in rural elementary education; at the same time, the larger scale of rural labor force transfer out the lower spending in elementary education of local government. References | Related Articles | Metrics

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Evolution and Development of Agricultural Modernization Research from the Perspective of Risk Society——Bibliometric Statistical Analysis Based on the CitespaceⅢ LI Ding, HUANG Ying-jun, LIU Min 2017 (03):  101-110.  Abstract ( 223 )   PDF (1795KB) ( 165 )   This paper uses the theory and methods of bibliometric and chooses the Information Visualization software CiteSpaceⅢ as its research tool to conduct a literature review and mapping knowledge domains which can intuitively reflects the research route, subject and research focus. This article shows that at present abroad study of agricultural modernization is in the rush hour, Europe's leading strength in this field. Sustainable development, ecological modernization and urbanization are the key areas of agricultural modernization research. Special research focuses on the combination of agricultural modernization and special issues. References | Related Articles | Metrics