Chief Audit Executive as Supervisory Board Member and Executive Compensation Contracts

This paper studies a unique phenomenon in China's corporate governance—that chief audit executives (CAEs) sit on supervisory boards (CAE duality)—and examines its effects on executive compensation contracts. Using a sample of listed firms between 2010 and 2018, we find a significant positive relation between CAE duality and pay-for-performance sensitivity, which suggests that the dual position helps integrate monitoring resources and reduces agency costs. This positive relation is more pronounced when companies face a stricter monitoring environment and in non-state-owned enterprises (non-SOEs) than in SOEs. In addition, we find that the recent reforms on compensation strengthen the role of CAE duality in SOEs. Further analysis identifies the reliability of performance information (i.e., earnings quality) and reduced executive self-interested behaviours (i.e., perquisite consumption) as the influencing mechanisms that increase the demand for performance-based compensation and thus improve pay-for-performance sensitivity.     

长江经济带中三角地区农业结构的分析与优化对策

[目的]从宏观、中观和微观3个层面深入分析长江经济带中三角地区湖北、湖南和江西3省的农业产业结构及其各产业差异性和相对优势及其竞争力。[方法]在宏观层面运用了传统的基尼系数分析3个省份历史发展上的地区经济水平差异,判断3个地区经济发展是否存在虹吸效应;从中观层面运用区位熵指数分析法分析区域农业产业结构,从农畜林渔等方面判断各区域产业专业化水平程度;从微观层面运用偏离—份额分析法(SSM)分离出3个地区的各部门产业的优势及其竞争力。[结果]区域内的经济差异变化呈不断增大的趋势,基尼系数不断扩大;湖北的种植业、渔业和农林牧渔服务业,湖南的种植业、林业、畜牧业和农林牧渔服务业,江西的林业、渔业都较中三角地区对应的子产业的区位熵指数高;江西木材和竹加工业和烟草业具有较大的产业竞争优势,湖北的茶叶、水产和瓜果疏菜产业优势明显,湖南地区农业产业综合优势主要在于烟草、水果、肉类以及木材和竹类加工业。[结论]通过比较地区农业产业竞争优势,提出发展地区产业特色,合理布局全域农业产业,提高农产品附加收益,稳固对结构优化的资金支持等对策建议。     

The impact of mentoring quality on protégés' organization‐based self‐esteem and proactive behavior: The moderating role of traditionality

Based on self‐consistency theory, this study examined the relationship between mentoring quality as perceived by protégés and protégés' proactive behavior. It focused on the mediating role of organization‐based self‐esteem (OBSE) and the moderating role of traditionality. To examine these relationships, we administrated three‐wave surveys to 237 subordinate–supervisor dyads in a construction enterprise. The results of hierarchical linear modeling demonstrated that (a) mentoring quality and proactive behavior had a positive relationship; (b) OBSE mediated this relationship; and (c) traditionality strengthened both the relationship between mentoring quality and OBSE and the indirect effect of mentoring quality on proactive behavior via OBSE. Our findings have theoretical and practical implications for research on mentoring and proactive behavior.     

中日农村医疗保险制度比较研究

纵向比较分析中日两国农村医疗保险制度的发展历程,从覆盖范围、筹资方式、补偿方式、资金收支情况等方面横向比较中日两国的农村医疗保险制度,探讨中日两国农村医疗保险制度的优缺点,为我国完善新型农村合作医疗制度提供相关建议。     

基于村级尺度的重庆荣昌区村庄发展潜能评价与类型划分

目的 村庄是落实乡村振兴战略的细胞单元,厘清村庄发展潜能,科学划分村庄发展类型,是乡村振兴战略差别化精准施策的基础。方法 文章基于乡村振兴“产业兴旺、生态宜居、乡风文明、治理有效、生活富裕”5个维度,科学选取评价指标,构建村庄发展潜能评价体系,并以课题组于2018年对重庆市荣昌区133个村庄开展的乡村振兴专项调查研究结果为基础,开展了村庄发展潜能评价和类型划分。结果 （1）受地域人口、土地、产业等综因合素影响,荣昌区村庄发展潜能总体呈现“西北弱、东南强”的空间分异性。村庄空间发展集聚潜能已形成以城区为中心向乡村区域由高值向低值呈圈层逐级递减的区间分布态势;（2）基于乡村振兴村庄发展潜能评价,将研究区案例村庄划分为产居引领、资源提整、极化辐射3种不同的发展类型,并辅以相应的差别化发展策略或路径。结论 契合乡村振兴目标,结合村庄资源禀赋和发展潜能,划分村庄发展类型,差别化实施乡村振兴策略,对科学全面实施乡村振兴战略具有重要的意义。     

小农户参与现代农业行为的影响因素——基于甘肃348户农户调查分析

目的 实现小农户与现代农业发展有机衔接是我国农业现代化建设的重要内容。方法 文章基于解构计划行为理论,利用甘肃省348户农户调查数据,采用多群组结构方程模型分析小农户参与现代农业行为的影响因素。结果 （1）小农户参与现代农业行为意愿模型中,农户家庭禀赋是最主要的影响因素,行为态度、感知行为控制次之,交易费用和主观规范的影响力最小。（2）小农户参与现代农业的意愿显著正向影响参与行为。（3）感知绩效对小农户行为态度的影响强于感知风险;小农户对同伴的信任度明显高于对上级政府和村集体的信任度;缔约条件对小农户参与意愿的影响更有效,农户较为重视进入门槛高低;劳动力数量、农户受教育水平以及对收购产品中介的熟悉程度对小农户行为意愿均具有重要影响。（4）多群组分析得出不同类型小农户参与现代农业意愿与行为的影响因素存在显著差异;家庭禀赋对自给型、兼业型和退出型农户的参与意愿具有显著的负向影响,对发展型农户参与意愿具有显著的正向影响;行为态度、主观规范、感知行为控制等变量对不同类型小农户参与意愿与行为存在显著的正向影响,且这些变量在不同类型农户参与现代农业意愿与行为路径中具有调节效应。结论 要加强现代农业宣传力度,改善农户行为态度;积极营造社会氛围,发挥周围人群的示范效应;提供技术、资金以及市场信息支持,增强农户对现代农业的掌控力;大力培育和发展新型农业经营主体,为小农户融入现代农业设计差异化的政策支持体系。     

贵州省百香果种植适宜性评价

目的 百香果近几年在贵州域内推广种植,因当地整体气候环境条件与其最优生境条件存在较大差异,导致部分地区百香果无法越冬、成熟果实产量和质量较低等问题,因此分析贵州省百香果种植适宜性对其产业化发展具有指导意义。方法 文章将百香果种植适宜性评价体系分为两层：生长适宜层与现状限制层,生长适宜层除了5项常规生长指标（常年均温、最冷月均温等）外,考虑贵州百香果种植低产、质低的问题,引入百香果关键生长期（5—11月、7—8月）的温度作为生长指标之一;现状限制层包括5种不宜种植的土地利用类型和重度石漠化、极度石漠化以及坡度大于25°地区。运用空间叠加、栅格计算以及空间统计等GIS方法得出百香果种植适宜评价结果。结果 （1）评价等级面积：不适宜>次适宜>适宜,面积分别为1 456.096 457万hm²、274.224 849万hm²、31.348 694万hm²,全省无最适宜区分布。（2）次适宜区面积较广,但在黔西和黔中地区分布面积较少;适宜区涉及到25区县,81.71%适宜区集中在南北盘江流域低热河谷区域。（3）以适宜性评价结果为基础,区县为基本单元,根据适宜性程度进行百香果产业发展区划,其中重点5个、一般区11个、分散选育区27个、非推荐种植区45个。（4）可种植百香果贫困区县有22个,占贫困县总数的66.67%。结论 贵州省不适宜大面积种植百香果,33个贫困县中10个贫困县区县可作为百香果产业发展区。     

Labour market impacts of occupational licensing and delicensing: New evidence from China

We examined the recent occupational regulation changes in China and their labour market impacts. Using data from the China Labor-Force Dynamic Survey from 2014 to 2018, we found an earning premium of approximately 10 per cent, as well as more employment-based benefits, for those with an occupational license compared to those without one. Licensed workers reported higher skill-job task match than unlicensed workers. Our data cover the period of occupational regulation reform in China, when 70 per cent of occupations previously licensed or certified were deregulated. Over this period, the licensing status remained associated with positive earning and employment benefits premiums, and better skill-job task match at the labour market level. However, delicensing led to a distributional shift in the earning dispersion, especially at the bottom of the earning distribution; earning premiums rose sharply for the 10th to 30th percentiles. Workers directly affected by the licensing reform reported a significant decrease in employment benefits and in subjective job quality measures (i.e. skill-job task match and voice at work) after delicensing, relative to never-licensed workers. We suggest that non-wage compensation is lost in the short term because the signal of competency is no longer valued by employers after delicensing.     

长租公寓信托受益权ABS的法律风险

资产证券化作为传统融资渠道之外的新型金融工具,向穷尽信用贷款、缺乏重资产的新兴企业提供了选择.为实现资产信用与企业信用相分离,需要将拟证券化的资产进行产权变更,部分优质资产由于政策、法律等原因难以进行这一程序,便需要信托对之进行包装,以信托受益权的形式实现真实出售.但是,同样的工具也可用于掩盖底层资产实际为信用的实质,将之包装为依靠自身产生现金流的资产,进而获得投资,长租公寓信托受益权ABS便是其中的代表,实践中产生了诸多风险,例如原始权益人藉此逃避监管与披露义务;无法产生有效的风险隔离;突破资产证券化的实质,以企业经营能力替换产生现金流的资产等.据此,应当通过贯彻穿透原则,明确限定底层资产权属,规定必要的自购比例,减少资金流通过程,提供更多融资渠道等方式保护投资者权益,维护市场秩序.     

Measuring user similarity using check-ins from LBSN: a mobile recommendation approach for e-commerce and security services

ABSTRACT

Social friendship and geographical position information often reflects individuals’ personal preferences and other types of knowledge that can be used to extract their similarity for recommendation systems. This paper finds that users are more likely to move around some specific centres or check in at some hotspots; a few individuals check in frequently, whereas most locations are rarely visited. Based on these findings, we propose a multi-centre clustering algorithm to capture users’ mobile patterns and develop a user similarity measurement method. Complexity analysis shows the method’s efficiency in handling large datasets and experimental results demonstrate its good applicability.