Anti-corruption,government subsidies,and investment efficiency

The problem of corruption in socio-economic development has long been a focus of academics and practitioners. To address this concern in China, the 18th National Congress of the Communist Party of China instituted a new anti-corruption policy. In this paper, we examine the impact of this recently enacted anti-corruption policy on the investment efficiency of subsidized enterprises from the perspective of government subsidies. We conclude that government subsidies have a significant positive impact on the overinvestment behavior of enterprises and that the anti-corruption work done by the government has effectively restrained the excessive investment behavior of government-subsidized enterprises. Further, we find that the anti-corruption policy is more effective in restricting overinvestment in subsidized state-owned enterprises than in non-state-owned enterprises. We examine the impact of the anti-corruption policy on excessive investment caused by government subsidies and enrich the body of research related to investment efficiency. We also provide empirical support for further research on the anti-corruption policy at the macro-market and micro-enterprise levels. The findings highlight the need to establish new cooperation between government and enterprises, to rationalize the distribution of administrative resources, and to promote the sustained and healthy development of the national economy.     

基于生物识别技术的智慧支付体系研究

近年来,随着信息技术的飞速发展,生物识别技术在支付领域的应用也在不断突破,互联网金融公司、商业银行纷纷将生物识别技术嵌入业务链,融入业务场景。鉴于人体生物特征的稳定性、唯一性和不易复制性,生物识别技术的应用为金融支付提供了更安全、快捷的途径,具有广阔的应用前景。本文分析了生物识别技术在支付领域应用的可行性及优势,对以生物识别技术为核心载体的智慧支付体系的建设进行了初步探索,以期为推动生物识别技术在支付领域应用、建设智慧型支付体系提供参考。     

低碳经济与产业结构调整

随着被喻为拯救人类的最后一次机会的哥本哈根气候大会的召开,全球气候变化促使低碳经济走上世人面前。中国产业发展受到了前所未有的二氧化碳减排压力,但同时全球气候变化和发展低碳经济也给中国产业的发展带来了机遇。发展低碳经济意味着中国能够避免走西方国家的高能耗、高污染的工业化发展道路,走出一条低能耗、低污染、低排放的新型工业化道路。以低碳经济为依托助推产业结构升级,中国将转向更为高效的制造业和低碳产业结构,这有利于中国保持国际贸易领域的持久竞争力,同时可以避免国外的碳关税而有利于出口经济的可持续发展。     

陕西黄河湿地生态问题及保护初探

陕西黄河湿地是由黄河及其支流渭河、洛河三条河流交汇而形成的,交汇处主要以河床漫滩为主,由河流水面、江心洲、滩涂、泛洪平原及部分低阶地组成,是典型的河流湿地。近年来随着周边经济的发展,人类开发利用湿地的强度越来越大,湿地生态系统及其功能退化明显。因此研究和保护这一湿地,对区域生态环境的建设有着重大意义。本文将河流湿地开发利用过程中出现的问题进行了分析,针对水资源减少、生物多样性锐减和环境污染等问题提出了一些开发与保护措施。     

对构建陕西省高职高专阳光体育开展模式的研究

运用文献资料法、专家访谈法、问卷调查法、数理统计法等对陕西省高职高专院校的阳光体育运动开展状况进行了研究分析,在此基础上构建出一个理论依据充分,可操作性较强的符合陕西省高职高专院校和学生实际情况的阳光体育开展模式。     

Political trust as rational belief: Evidence from Chinese village elections

Democratic governance is believed to improve government responsiveness to citizens’ demand for public goods. In China, villagers’ committee elections represent a major progress in China’s development toward good governance. We develop a rational model to explain villagers’ participation. Utilizing a national survey of rural residents in 2005, this paper tests the insights of the model. Two findings are of interest to the students of voting and elections. First, there is disagreement over the causal relationship between political trust and voting. This paper offers a rational interpretation of political trust by emphasizing the informational aspect of the concept. Second, voting is generally theorized as a process of overcoming various costs. The prospect of benefits figures more prominently in Chinese village elections. Our findings highlight the pivotal role of township governments in China’s rural politics and reveal the inner dilemma of democratization in China.     

奥运科技成果应用及转化分析

对北京科技奥运8大领域项目承担单位的分布情况进行了统计,总结了奥运科技成果的应用状况,分析了奥运科技成果的应用前景,并有针对性地提出在各领域奥运科技成果转化的对策。     

中国城市化与服务业的协调发展研究

城市化与服务业存在密切关系,通过构建两者的耦合协调度模型,对2001-2009年中国各地区城市化与服务业发展水平的协调程度进行比较分析,研究结果表明,中国各地区城市化与服务业发展水平都在不断提高,但地区差异较大,东部地区与中西部地区之间的差距扩大;城市化与服务业发展水平呈现显著的正相关关系;从协调度来看,各地区耦合协调度不断提高,优质协调的省份和严重失调的省份都较少,轻度失调和基本协调的省份较多;从耦合协调度的空间分布来看,东部地区耦合协调度明显优于中西部地区。     

Do Lenders Value Corporate Social Responsibility? Evidence from China

Drawing on risk mitigation theory, this article examines whether the improvement of firms’ social performance reduces debt financing costs (CDFs) in China, the world’s largest emerging market. Employing both the ordinary least square (OLS) and the two-stage instrumental variable regression methods, we find that improved corporate social responsibility (CSR) reduces the CDF when firms’ CSR investment is lower than an optimal level; however, this relationship is reversed after the CSR investment exceeds the optimal level. Firms with extremely low or extremely high CSR are subject to a higher CDF. The results also suggest that the optimal CSR level for small firms is higher than that for large firms. This study is the first to document a U-shaped relationship between CSR and CDF and also the first to investigate this relationship within an emerging market context.     

会计计量的十大“硬伤”

会计这门经济学科是社会经济发展产物,并随着社会经济发展而发展。2008年金融危机已暴露出现行会计计量弊端,因此,在后金融危机时代,如何进一步完善、推动会计理论发展,以适应社会经济发展需要,是会计界必然面对的问题。