Does the social security fund help non-financial enterprises to transform from the virtual to the real?

At its 19th National Congress, the Communist Party of China vowed to “strengthen the financial sector’s ability to serve the real economy.” However, many studies provide evidence of the opposite trend, a problematic “transition from the real to the virtual,” among Chinese enterprises. Meanwhile, the investment efficiency of China’s Social Security Fund (SSF), a public fund, attracts much attention. In this context, we use A-share listed companies in China from 2009 to 2018 to study the relationship between holding by the SSF and enterprise financialization. We find that SSF holding significantly inhibits financialization and that this effect is non-linear. Mechanism analysis indicates that SSF holding suppresses enterprises’ financialization mainly by improving their governance. Moreover, SSF holding more strongly inhibits small-scale (vs. large-scale), state-owned (vs. non-state-owned), and non-eastern (vs. eastern) enterprises in China. Furthermore, SSF holding can alleviate corporate value impairment caused by financialization. The conclusions enrich theoretical research and provide empirical evidence that may help regulatory authorities to guide investment by enterprises and prevent financial risks.     

CEO power and annual report reading difficulty

We examine the impact of CEO power on reading difficulty of corporate annual reports. We find that CEO power is positively related to reading difficulty, implying that annual reports of corporations with powerful CEOs are difficult to read and understand. More importantly, we find that the relation between CEO power and reading difficulty is moderated by earnings performance or corporate governance. Additional findings suggest that this relation becomes stronger for firms with lower financial reporting quality or for CEOs with shorter tenure. Our study not only joins the debate on the consequences of powerful CEOs but also uncovers several factors that moderate the relation between CEO power and annual report reading difficulty.     

从广西看大西南出海通道建设

广西在大西南出海通道的建设中占有极其重要的地位，本文采用网络模型，按现状与规划路网两种情况，综合考虑陆上距离和去不同方向市场的海上距离，分析了北海（代表广西港口群）、湛江、广州等三条出海通道的三个港。各自的吸引范围。并由此得出了一些有益的结论。     

On the Formation ＆ Growth of Chengdu-Chongqing Economic Strip

According to the essential features of urban economic strips, this paper is intended to point out that Chengdu-Chongqing strip has so far been an urban area in geographic or spatial sense, but not an urban economic strip in economic sense. On further basis of analyzing several problems existing in the developrnent of Chengdu-Chongqing economic strip, some countermeasures are correspondingly put forward hereafter.     

城市地理学研究新的领域思考

改革开放以来，由于国民经济的迅速发展，我国工业化、城市化的进程明显加快。从国情分析可知，我国的城市化出现了五种特有的现象，这为城市地理学的研究提供了广阔的平台。城市地理学在我国城市发展与城市化的重大问题研究上，长期以来取得了许多重要成果，理论方法上也有重大建树，成为人文科学与自然科学研究领域中最为活跃的一支生力军^①。文章从我国实际出发，提出了城市地理学研究的思维方法及其若干新的研究领域。     

铜陵矿区生态经济建设

本文根据矿区生态经济系统协调发展和演化的原理,提出合理规划、建设铜陵生态市的建议,以实现铜陵经济、社会的可持续发展。     

中小家族企业的创新经济学分析

创新经济学将技术创新在企业、研究机构等经济体中的发展作为主要研究对象,企业家的创新同样也是增长的动力;对我国一些地区中小家族企业的调研表明,立足于新技术、新管理和创新人才的支持是加入世界贸易组织后企业创新的进展。本文结合实际材料,对这两方面的研究展开了分析。     

基于发展核电的生态经济价值及其伦理思考

发展核电、开发利用核能充满复杂而多层次的价值矛盾，在巨大的生态与经济利益和风险之间．核电对生态环境及人类安全的威胁问题倍受社会各界的关注．并由此引发了一系列价值难题和伦理争论，成为影响核电发展的关键。核电的安全、可持续发展不仅仅是技术问题，还涉及一系列的伦理问题，要保证核电可持续发展并有益于生态环境保护且不损害人类利益，不能犯“技术决定论”的错误．必须辅之以伦理之轨。伦理之轨通过深入核电发展链的各个环节．对核电发展进行伦理价值观的批判和引导．参与战略选择使之得以规约．并保障核电发展有益于人类合的目的性价值得以实现。     

农村流动人口研究的社会网络视角

对社会网络理论的发展和应用进行了回顾,重点评述国内外关于流动人口的社会网络研究。国外利用社会网络视角系统研究流动人口的成果相对较少,而国内的流动人口研究主要集中于农村流动人口的网络结构分析和求职网络研究。多数研究只是对个体网络的基本特性作描述性分析,将社会网络作为研究对象而不是研究方法。对未来利用社会网络分析方法进行农村流动人口的研究提出了展望。     

岩溶山地土地整理模式研究

西南岩溶山地是典型的脆弱生态环境,与经济发达地区相比,有其自身的土地资源特点、生态特点和社会特点。文章以此为基础,提出岩溶山地土地整理的原则、思路,认为岩溶山地的土地整理应从高标准基本农田建设、阶梯式还林退耕和辐射式生态重建、实行土地双轨制、直接对农户投资着手等,提出不同空间尺度如县市、乡镇、村组、农户土地整理的具体模式。非耕地资源开发是岩溶山地土地整理的重点。