Saving, Investment, and Capital Mobility in LDCs

The Coakley, Kulasi, and Smith current-account solvency model ( Economic Journal , 1996, pp. 620–7) is used to investigate saving and investment in LDCs. This model implies that saving and investment cointegrate with a unit coefficient irrespective of the degree of capital mobility. Panel and conventional unit-root tests indicate that LDC current accounts are stationary. The Feldstein–Horioka cross-section regression coefficient for LDCs is lower than the corresponding OECD coefficient, indicating different policy responses in these countries rather than higher capital mobility. Finally, adjustment toward solvency is slower in LDCs, reflecting their vulnerability to external shocks and the impact of financial repression.     

社会网络、非正规金融与创业

社会网络可以缓解信息不对称问题,从而促进民间借贷。本文使用中国农村的调查数据,发现拥有更多社会网络的农民,会有更多的民间借贷渠道,从而更有可能创办自营工商业。农村个体工商业的初始投资和后续发展所需的资金很大程度上来自于亲友的借款。本文还发现,在正规金融越不发达的地方,民间借贷对农民创办自营工商业所发挥的作用越大。这表明,依托亲友关系的非正规金融弥补了农村正规金融发展滞后的缺陷。     

Labor Mobility, Trade, and Social Capital

Labor market integration raises welfare in the absence of distortions. This paper examines labor and goods market integration in a general‐equilibrium model with social capital. The findings are: (i) labor market integration has an ambiguous impact on welfare, and raises it if the goods and labor skills are sufficiently different; (ii) compared to Pareto optimum, labor mobility (social capital) is excessively large (depleted); (iii) trade is superior to labor market integration if trading costs are no higher than private migration costs, otherwise the outcome is ambiguous; and (iv) the creation of new institutions in response to labor market integration has an ambiguous impact on welfare.     

Income Mobility, Inequality and Social Welfare

It is often argued that an observation of rising annual income inequality need not have negative normative implications. The argument is that if there has been a sufficiently large simultaneous increase in mobility, the inequality of income measured over a longer time period can be lower despite the rise in annual inequality. In this paper, it is shown by example that if normative implications are drawn from a standard social welfare function, the set of circumstances put forward in the above argument are not sufficient to guarantee that social welfare will improve. The reason is that even though rising mobility does reduce longer term inequality, it also increases the variability of income profiles over time and the latter has a detrimental social welfare effect. Hence, there are two types of mobility: one which reduces inequality (regression to the mean), but another that increases inequality (relative movements uncorrelated with incomes). Further, if individuals' aversion to income variabiltiy is sufficiently larger than the social welfare judge's aversion to inequality, then an increase in mobility, no matter how large, cannot offset the negative normative effect of rising annual inequality.     

社交指数、风险倾向与创业

创业不仅是经济持续增长的动力,也是新常态下我国经济增长方式转变的重要源泉。从个人社交指数和风险倾向着手,分析其对个人创业的影响,同时考虑政府干预、市场成熟度和产权保护水平对社交指数和风险倾向与创业之间的调节作用,并将个人特质和区域因素作为控制变量纳入分析框架,运用CGSS 3年的数据进行实证分析。结果表明,个人社交指数对创业具有正向影响,个人风险倾向对创业的影响存在区域异质性。在农村地区,个人风险倾向对创业活动具有正向影响,即风险倾向越高,创业概率越大;而在城镇,个人风险倾向对创业的影响为负。在制度环境层面,政府干预和市场成熟度对创业具有负向影响,产权保护水平与创业之间存在“倒U型”关系,制度环境对社交指数与创业之间的关系具有调节作用,较高政府干预力度和较低市场成熟度使社交指数与创业负相关,而产权保护水平的调节作用则较弱;制度环境对风险倾向的调节作用较弱。     

家庭借贷约束、公共教育支出与社会流动性

人力资本投资是增强社会流动性的重要手段,然而借贷约束使得底层家庭无力对子女进行最优的人力资本投资;与此同时,富裕家庭则不受借贷约束的影响,总体结果是社会流动性减弱。利用中国健康与养老追踪调查和全国综合社会调查数据,本文发现,借贷约束确实提高了居民收入和教育的代际传递弹性,降低了社会流动性。在匹配政府公共教育支出数据后发现,公共教育支出可以缓解家庭层面人力资本投资的不足,提高教育水平的代际流动性。     

社会创业导向、跨界搜索与社会企业绩效：市场环境的调节作用

作为社会企业重要战略选择,社会创业导向能够促进跨界搜索以获取灵感和动力,从而推动社会企业双元绩效提升。因此,基于组织搜索理论,遵循“态度—行为—结果”研究范式,将市场环境引入社会企业创业导向、跨界搜索与社会企业双元绩效关系模型,基于问卷数据验证社会创业导向对社会企业双元绩效的作用机制及外部影响。结果表明：①社会创业导向对社会企业经济和社会绩效具有积极影响;②跨界搜索在社会创业导向与社会企业经济和社会绩效间起部分中介作用;③市场环境作为关键外部环境因素,正向调节社会创业导向与跨界搜索的关系以及跨界搜索与社会企业经济绩效的关系,负向调节跨界搜索与社会企业社会绩效的关系。因此,整个模型能够回答社会创业导向如何推动社会企业双元绩效增长问题。此外,市场环境的技术动态性和需求不确定性促使市场逻辑在社会企业跨界搜索行为中占据主导地位,因而社会企业需要高度重视自身使命和价值共创,促进经济效益和社会价值实现。     

家族企业接班人社会嵌入与跨代创业

当前经济社会形势下,家族企业接班人肩负着带领企业跨代创业的使命。然而,“人在江湖,身不由己”,接班人跨代创业的行为动机受到高管团队约束。基于此,根据社会嵌入理论,从认知、关系、结构三维度构建接班人嵌入到高管团队对经营多元化影响的分析模型,并对其中的作用机制进行探讨。实证研究表明,接班人和高管团队在认知嵌入上的教育背景同质性、在关系嵌入上的亲密度以及在结构嵌入上的中心化均与经营多元化呈正相关;信任在接班人和高管团队嵌入性与经营多元化关系中发挥部分中介作用。进一步分析发现,父代保守战略嵌入到高管团队中一定意义上不利于企业转型。结论表明,家族企业接班人跨代创业的行为动机受到社会嵌入的影响。     

Entrepreneurship and Independent Professionals: Social and Economic Logics

This study discusses stereotypes of entrepreneurship by looking at the overlapping areas of entrepreneurship, self-employment and professions. Professions are part of the category of self-employment and the study presents empirical findings drawn from a unique empirical dataset from Finland: a survey (N?=?733) including freelance journalists, translators, interpreters and artists at the blurred boundaries between waged work and entrepreneurship. Findings reveal that the professions are clearly different and the manifestations of entrepreneurship vary, reflecting the work and the labor market situation within the profession. Life and work situations of liberal professions cannot be interpreted in simple black-and-white schemes of winners and losers. Instead, many different socioeconomic situations can be found ‘in between,’ which are driven by different social logics. For entrepreneurship research, the study opens up new avenues by taking us beyond the push-pull dichotomy, which over-simplifies the decision to enter self-employment. The term entrepreneurship is often used in an undifferentiated way, and it easily generates myths and stereotypes which are challenged by the study. A narrower and more realistic view shows that there are diverse agents under the flag of entrepreneurship, who are usually not regarded as core entrepreneurs although they exist in everyday life.     

社会网络对农民创业的影响

利用中国居民家庭收入调查数据库中的数据,实证分析了社会网络对农民的创业意愿、创业困境和创业融资的影响。结果显示:社会网络对农民的创业意愿有显著的正向影响;拥有社会网络越少的农民越担心创业时资金不足和缺乏创业关系;社会网络对农民预期从朋友处获得贷款有显著的正向影响。     

Social Security Policy and International Labor and Capital Mobility

This paper studies the connection between social security policy and international factor movements within a two-country overlapping-generations model with production. Incentives for factor movements emerge because one country relies on private savings while the other country operates a social security system. The pattern of migration depends on the steady-state capital–labor ratios compared with the Golden Rule capital–labor ratios. Incentives to migrate do not vanish in the long run and one country might empty out. Capital always moves to the social-security country. Without compensation neither labor nor capital mobility represents a Pareto improvement for the economy.     

家族性、创业导向与家族创业绩效

家族企业不仅仅是创业的一种组织形式,创业也不仅仅是家族企业生命周期中一个阶段或战略,相反,家族嵌入式创业是关于家族对创业全面综合影响的恰当描述。因此,家族涉入创业活动产生了与创业理论和家族企业研究既有联系又有区别的独特的理论问题,正发展成一个新兴的研究领域。本文通过阐明家族涉入创业活动的家族性因素和创业导向,构建了一个基于资源视角的家族创业研究框架,并指出了未来的研究方向。     

Social Entrepreneurship in China: Driving Institutional Change

In the aftermath of the Great Recession, the concern with exclusionary and unethical business practices has led to the growing popularity of social entrepreneurship, which focuses on the creation of social value, not wealth. In this article, I reflect on social entrepreneurship in China, a unique context given the strong communist party leadership and the transition to a market economy. To begin, I discuss the legal and political framework for social entrepreneurship in China, followed by an overview of the sector’s characteristics, including age, size, social issues emphasized, leader characteristics, and the role of women. Next, I provide examples of three social enterprises in China that illustrate the diverse possibilities for this sector as a force for social and institutional change. I conclude with some suggestions for strengthening China’s social enterprise ecosystem.     

制度与社会创业:基于文献的整合框架

社会创业是深嵌于制度情境中的独特创业活动,二者之间的复杂关联是当前社会创业研究的焦点。已有文献对这一问题的探索不仅主题零散,也缺乏一个整合性研究框架。本文运用系统文献综述法对过去30年管理学和创业学主流学术期刊文献进行梳理,概括了四个主要研究议题,即制度对社会创业选择、过程和绩效的影响以及社会创业对制度变革的促进。在此基础上,整合创业研究的“情境-行为-结果”和“情境-思维-行为”两种研究范式,提出了制度与社会创业双向互动的“制度-认知-行为-结果”(简称ICBO)的跨层次分析框架。最后,基于中国情景的历史特征与数字化新兴实践提出了未来研究展望和建议。本文研究有助于深化对社会创业制度成因的认识,也有助于推动合意性的社会创业政策制定。     

社会网络、信息获取与农户自营工商业创办行为关系的实证分析

笔者基于实地调研数据,着重分析了社会资本对农户自营工商业创办所面临的资金和信息两种约束的缓解效应。计量结果表明,社会资本不同维度对农户自营工商业创办的影响程度不同。社会网络对农户创业具有资金积累效用,这基于非正规金融对正规金融的替代性;信息获取对农户创业具有信息积累效用;社会资本的信息积累效用大于资金积累效用。     

基于社会网络的创业机会、动机与创业精神的关系研究

已有的创业精神的研究多基于西方的经济背景和实践。中国社会的历史文化和转轨时期的经济制度等都反映了中国创业精神发展的特殊性。其于制度理论,提出了创业机会、动机与创业精神之间的关系,并结合中国的创业实践认为,社会网络在创业机会、动机与创业精神的关系中起中介作用。     

Entrepreneurship,trust and corruption

I propose a theoretical model where trust towards strangers is a channel through which institutions determine economic outcomes, in particular, entrepreneurship and corruption. More importantly, I show that the role of trust has been overlooked since high levels of trust do not always enhance desirable economic outcomes. Trust helps individuals to participate in economic exchanges aligned with social welfare, but it also facilitates individuals to cooperate for the achievement of corrupt deals. Under this more general view of trust, the model generates a non-trivial new prediction at the individual level. Specifically, the individual-level relationship between honesty and trust changes depending on the institutional quality of a country. Dishonest individuals are the more trusting individuals in countries with poor institutions, and the less trusting in countries with good institutions. Using individual-level data of 80 countries from the World Value Survey and the European Values Study, I present empirical evidence in support of this prediction.