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Specific vs. ad valorem taxation and social welfare in mixed duopoly with foreign ownership 外资混合双寡头的具体与从价税与社会福利
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-04-06 DOI: 10.1080/20954816.2022.2052454
Mingyuan Sun, Leonard F. S. Wang, Qidi Zhang
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引用次数: 1
Can executive mobility reduce the stock price crash risk? Evidence from China 高管流动性能否降低股价崩盘风险?来自中国的证据
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-03-04 DOI: 10.1080/20954816.2022.2042789
Jing Zhang, Shuang Yue, Shuang Zi
Abstract The 21st century has witnessed increasing fluctuations in both the real economy and financial markets around the world. How to maintain the stability of the capital market has attracted more serious attention. This paper examines the impact of executive mobility on the stock price crash risk at the company level. Based on the data of A-share listed companies during 2010–2019, our empirical results show that executive mobility can effectively reduce the stock price crash risk. Furthermore, our research confirms that employee salaries play an intermediary role in the impact of executive mobility on the stock price crash risk. This paper has important implications for companies in emerging markets to optimise the structure of their executive teams.
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引用次数: 1
Trust, politics and post-IPO performance: SOEs vs. the private sector 信任、政治和上市后的表现:国企与私营企业
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-01-28 DOI: 10.1080/20954816.2021.2021840
Bill Francis, I. Hasan, Xian Sun, Mingming Zhou
Abstract This paper empirically investigates the role of social trust in the long-term performance of the initial public offerings (IPOs) in China, controlling for the formal institutional environment. We find that privately owned or smaller IPO firms experience significantly better post-IPO performance when they are incorporated in regions with more social trust. The state-owned and bigger IPO firms, on the other hand, experience better long-term post-IPO performance when they are incorporated in regions with stronger formal institutions (e.g. court enforcement and contract holding). Political pluralism turns out to benefit all IPOs in the long term. In addition, our evidence shows that stronger social trust substitutes for the quality of court enforcement but complements the role of contract holding. These results are robust after controlling for alternative definitions of ownership, outliers, non-linear effects of institutions, and the potential endogeneity of institutions in the model.
摘要本文在正式制度环境的控制下,实证研究了社会信任对中国首次公开发行(ipo)长期绩效的影响。我们发现,在社会信任度较高的地区注册的民营企业或规模较小的IPO公司,其IPO后绩效显著提高。另一方面,国有企业和规模较大的IPO公司如果在正规制度(如法院强制执行和合同持有)较强的地区注册,则在IPO后的长期表现会更好。长期来看,政治多元化对所有ipo都有利。此外,我们的证据表明,更强的社会信任替代了法院执行的质量,但补充了合同持有的作用。在控制了所有权的不同定义、异常值、制度的非线性效应和模型中制度的潜在内生性之后,这些结果是稳健的。
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引用次数: 0
Eliminating poverty through development: The dynamic evolution of multidimensional poverty in rural China 发展消除贫困:中国农村多维贫困的动态演变
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-01-02 DOI: 10.1080/20954816.2022.2028992
Yangyang Shen, Shi Li
Abstract This paper measures intertemporal multidimensional poverty in rural China from 1988 to 2018 based on the China Household Income Project (CHIP) data and for that time period has the following findings. First, multidimensional poverty in rural China declines steadily when measured through the income poverty approach. Second, multidimensional poverty in rural areas presents demographic and regional heterogeneity, among which elderly poverty, child poverty, and poverty in the western Chinese region are the most prominent ones. Third, income poverty and multidimensional poverty have a low overlap ratio and show intertemporal synchronisation over time. Although increases in income can alleviate multidimensional poverty, this effect is very limited. This paper suggests that a suitable multidimensional poverty identification framework should be developed in the era of poverty alleviation after 2020 and that in the new poverty alleviation governance system of China, targeted development strategies should be formulated with an increased focus on the poverty of special groups such as children and the elderly.
本文基于中国家庭收入项目(CHIP)数据,对1988 - 2018年中国农村的跨期多维贫困进行了测量,结果如下:首先,通过收入贫困方法衡量,中国农村的多维贫困率稳步下降。第二,农村多维贫困呈现人口和区域异质性,其中老年人贫困、儿童贫困和西部地区贫困最为突出。第三,收入贫困与多维贫困的重叠率较低,且随时间的推移呈现出跨期同步性。虽然增加收入可以减轻多维贫困,但这种效果非常有限。本文认为,在2020年后的扶贫时代,应制定合适的多维贫困识别框架;在新的中国扶贫治理体系中,应制定有针对性的发展战略,加大对儿童、老人等特殊群体贫困的关注。
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引用次数: 14
Economic implications of the sixth plenary session of the 19th CPC Central Committee for China’s Hong Kong 中共十九届六中全会对中国香港的经济影响
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-01-02 DOI: 10.1080/20954816.2022.2028993
T. Chong, Cornelia Yip, Patrick Ming Yu Ngai
Abstract The sixth plenary session of the 19th Central Committee of the Communist Party of China (CPC), also known as ‘the Sixth Plenum’, was successfully held in Beijing from 8 to 11 November 2021. It passed a historic resolution on the major achievements and historical experience of the CPC over the past 100 years and set forth the direction of China’s development in the next few decades. This paper aims to analyse the conclusions reached in the sixth plenary session of the 19th Central Committee of the CPC and discuss its economic implications for the Hong Kong SAR.
中国共产党第十九届中央委员会第六次全体会议于2021年11月8日至11日在北京成功举行,简称“六中全会”。大会通过了历史性决议,总结了中国共产党100年来取得的重大成就和历史经验,确定了今后几十年中国的发展方向。本文旨在分析中共十九届六中全会得出的结论,并讨论其对香港特别行政区的经济影响。
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引用次数: 0
The Communist Party of China and the Chinese road to modernisation 中国共产党与中国现代化道路
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-01-02 DOI: 10.1080/20954816.2022.2028994
Guangbin Yang
Abstract Faced with an overall crisis in China since the early 20th century, the Communist Party of China has pursued a Party-centric path to modernising the country, thus delivering its people out of an unorganised chaos. With democratic centralism at the core, China has developed a form of government distinct from Western representative democracy. Democratic centralism prevails throughout the organisational structure of power and the policy implementation process. This best shows the Party’s affinity to its people. China’s road to modernisation and success in governance, which are rooted in its own rich historical legacies, have meaningful implications for other developing countries.
自20世纪初以来,面对中国的全面危机,中国共产党追求以党为中心的现代化道路,从而使其人民摆脱了无组织的混乱。以民主集中制为核心,中国发展了一种不同于西方代议制民主的政府形式。民主集中制贯穿于权力组织结构和政策执行过程。这最能说明党对人民的亲近感。中国的现代化之路和治理的成功根植于自身丰富的历史遗产,对其他发展中国家具有重要意义。
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引用次数: 1
Focus shift needed: From development-oriented to social security-based poverty alleviation in rural China 重点转移:中国农村扶贫从以发展为导向转向以社会保障为基础
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-01-02 DOI: 10.1080/20954816.2022.2031514
Cong Chong, Mengqi Cai, Ximing Yue
Abstract Over the past 40-plus years since its reform and opening up, China has made remarkable achievements in poverty reduction. It accomplished the task of eradicating absolute poverty at the end of 2020 as scheduled, which is of great significance to both China and the world. Using the China Household Income Project (CHIP) survey data from 2002 to 2018, this paper studies the characteristics of the rural poverty-stricken population and estimates the poverty reduction effect of China’s social security which transfers income to the poor. We find that the transferred income targeting the poor population can effectively reduce rural poverty. In the post-2020 era, poverty reduction in China has shifted its focus from eliminating absolute poverty to alleviating relative poverty. Since the majority of the remaining relatively impoverished people in China lack the necessary ability to work, they can hardly throw off poverty through development-oriented poverty alleviation programmes. Therefore, it is necessary to shift the focus of poverty reduction in rural China from development-oriented policies to social security-based policies, which is essential to alleviate relative poverty in the new stage and prevent people from slipping back to poverty.
摘要改革开放40多年来,中国在减贫方面取得了显著成就。它如期在2020年底完成了消除绝对贫困的任务,这对中国和世界都具有重要意义。利用2002-2018年中国家庭收入项目调查数据,研究了农村贫困人口的特征,并估计了中国社会保障向贫困人口转移收入的减贫效果。我们发现,以贫困人口为目标的转移收入可以有效地减少农村贫困。在后2020时代,中国的减贫工作已经从消除绝对贫困转向缓解相对贫困。由于中国剩余的大多数相对贫困的人缺乏必要的工作能力,他们很难通过以发展为导向的扶贫方案摆脱贫困。因此,有必要将中国农村减贫的重点从以发展为导向的政策转向以社会保障为基础的政策,这对于缓解新阶段的相对贫困和防止人们再次陷入贫困至关重要。
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引用次数: 5
Multidimensional poverty and types of impoverished counties in Gansu province of China 甘肃省多维贫困与贫困县类型
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-01-02 DOI: 10.1080/20954816.2022.2028991
Fangfang Zhang, Hui Liu, Weinan Gu, Jianpeng Zhang
Abstract Gansu province, considered as one of the poorest provinces in China, faces great challenges in fighting against poverty. This study highlights the importance of studying multidimensional poverty in Gansu province. The Multidimensional Poverty Indices of 75 poverty-stricken counties in Gansu province are measured quantitatively. The main driving factors of poverty are identified through the construction and application of a multidimensional poverty measurement system, classifying the impoverished counties into several categories. This study provides a scientific basis for formulating effective policies to achieve sustainable poverty reduction and high-quality development in the region after 2020. The results show that: (1) more than half of the poverty-stricken counties in Gansu province have a degree of multidimensional poverty that is below the median poverty level, with regional variations; (2) the main factors driving poverty in these counties include shortages in water and land resources, educational disruptions, undesirable medical conditions, and the underutilisation of labour, which show spatial variations; and (3) these poverty-stricken counties are categorised into four types: counties with fragile ecological environments and insufficient natural resources, counties with undesirable socio-economic conditions, counties with unfavourable conditions in development, and counties with relatively balanced development conditions. Finally, this paper proposes policy recommendations to achieve stable poverty alleviation based on different types of impoverished counties.
摘要甘肃省作为中国最贫困的省份之一,在与贫困作斗争中面临着巨大的挑战。本研究强调了研究甘肃省多维贫困的重要性。对甘肃省75个贫困县的多维贫困指数进行了定量测算。通过构建和应用多维贫困衡量系统,将贫困县分为几个类别,确定了贫困的主要驱动因素。本研究为制定有效政策,实现2020年后该地区可持续减贫和高质量发展提供了科学依据。研究结果表明:(1)甘肃省半数以上贫困县的多维贫困程度低于贫困中位数,且存在区域差异;(2) 造成这些县贫困的主要因素包括水和土地资源短缺、教育中断、不良的医疗条件和劳动力利用不足,这些因素表现出空间差异;(3)将贫困县分为四类:生态环境脆弱、自然资源不足的县、社会经济条件不好的县、发展条件不利的县和发展条件相对均衡的县。最后,针对不同类型的贫困县,提出了实现稳定脱贫的政策建议。
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引用次数: 0
Introduction 介绍
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2022-01-02 DOI: 10.1080/20954816.2022.2032540
Ximing Yue, Shi Li
multidimensional a low overlap and show intertemporal synchronisation over time. This paper concludes that a suitable multidimensional poverty identification frame-work should be developed in post-2020 poverty alleviation, and new development strategies should be formulated with a more pronounced focus on the poverty of special groups such as poor children and the elderly. The third paper, ‘ Multidimensional poverty and types of impoverished counties in Gansu province of China ’ , is co-authored by Zhang, Weinan Gu, and Jianpeng Zhang. By measuring the multidimensional poverty indices of 75 poverty-stricken counties in Gansu province, this paper identifies the specific factors leading to poverty and different types of impoverished counties, and puts forward policy recommendations for poverty alleviation. The results from this paper show that more than half of the poverty-stricken counties in Gansu province have a degree of multidimensional poverty that is below the median poverty level. This paper also finds that the main factors contributing to poverty in the impoverished counties in Gansu province are the lack of education, the shortage of land and water resources, inadequate medical and health services, and under-employment. The degree of each indicator that contributes to poverty shows spatial vari-ation as well. The results indicate that, to shore up the weak links in the local economic and social development, the different types of poverty-stricken counties should take more precisely targeted measures to reduce poverty. Obviously, these three papers are closely related to China ’ s poverty reduction theories practices the 40-plus years. They not only help us understand the characteris-tics and evolution of China ’ s poverty reduction in the past, but also indicate the need to shift the focus of poverty reduction policies in the future, which is essential to prevent the poor from slipping back to poverty and further lift them to the middle income group in the process of achieving common prosperity in China.
多维度-低重叠和显示跨时间同步随着时间的推移。本文认为,2020年后中国的扶贫工作应构建合适的多维贫困识别框架,制定新的发展战略,重点关注贫困儿童、贫困老人等特殊群体的贫困。第三篇论文《中国甘肃省贫困县的多维贫困与类型》由张建鹏、顾伟南和张建鹏共同撰写。本文通过对甘肃省75个贫困县的多维贫困指数测算,识别出导致贫困的具体因素和不同类型贫困县,并提出扶贫政策建议。研究结果表明,甘肃省半数以上贫困县的多维贫困程度低于贫困中位数。本文还发现,甘肃省贫困县贫困的主要因素是教育缺乏、土地和水资源短缺、医疗卫生服务不足和就业不足。导致贫穷的每项指标的程度也显示出空间差异。研究结果表明,不同类型贫困县应采取更精准、更有针对性的扶贫措施,补强当地经济社会发展中的薄弱环节。显然,这三篇论文与中国40多年的减贫理论实践有着密切的联系。这不仅有助于我们了解中国过去减贫的特点和演变,也预示着未来减贫政策的重心需要转移,这对于在实现中国共同富裕的过程中防止贫困人口返贫,进一步将其提升到中等收入群体至关重要。
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引用次数: 0
A decade of RMB internationalisation 人民币国际化十年
IF 2.4 4区 社会学 Q1 Social Sciences Pub Date : 2021-11-29 DOI: 10.1080/20954816.2021.1996938
Yin-Wong Cheung
Abstract This article recounts China’s renminbi (RMB) internationalisation experiences since the 2009 RMB cross-border trade settlement initiative. In the first few years, the RMB made inroads into global financial markets and had a few remarkable accomplishments, including the Special Drawing Right currency status. Since the 2015 market turmoil, RMB internationalisation has levelled off – possibly due to changes in both domestic and geopolitical conditions. The RMB is currently under-represented in the global market. China’s deliberate and schematic policies will elevate the RMB’s global stature in a gradual manner but there will not be a leapfrogging in the near term.
摘要本文讲述了自2009年人民币跨境贸易结算倡议以来,中国人民币国际化的经验。在最初的几年里,人民币打入了全球金融市场,并取得了一些显著的成就,包括特别提款权货币地位。自2015年市场动荡以来,人民币国际化趋于平稳——可能是由于国内和地缘政治条件的变化。人民币目前在全球市场上的代表性不足。中国的审慎和示意性政策将逐步提升人民币的全球地位,但短期内不会出现跨越。
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引用次数: 4
期刊
Economic and Political Studies-EPS
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