2017, 23(3):1-10. DOI: 10.11835/j.issn.1008-5831.2017.03.001 CSTR:
Abstract:Different with the research of macroscopic effect related to economic growth,the distribution of wealth and social stability,this paper combines the system of macro environment and micro enterprise decision-making,and focuses on the influence of official corruption on enterprise agency costs and the conduction mechanism.Based on China's A-share listed companies' annual data from 2000 to 2012,this paper empirically tests the influence of official corruption on enterprise agency costs.We find that official corruption significantly increases the agency costs of the enterprise.Specifically,the higher the degree of official corruption in the location of the company,the higher the enterprise fee ratio is.And enterprise asset utilization ratio is negatively correlated with official corruption.We also find that the influence of official corruption on the private enterprise agency costs is more significant compared with the state-owned enterprises,and the market-oriented reform effectively cushions the influence of official corruption on enterprise agency costs.
2017, 23(3):11-22. DOI: 10.11835/j.issn.1008-5831.2017.03.002 CSTR:
Abstract:Using panel data of A-share main board listed companies from 2008 to 2014 as research sample,this paper studies the factors that affect enterprise entrust finance behaviors from the perspective of corporate governance and external environment.It is found that,firstly,the existence of bank executives in company is beneficial to strengthening enterprise financial management behaviors,and bank association significantly increases probability,frequency and scale of enterprises entrust finance,and shortens the term of investment,but does not significantly affect the yield return.Secondly,to some extent,behaviors of corporate entrust finance depend on regional financial culture.In the area of high level of financial culture,enterprises have higher possibility and frequency of involving in entrust finance,larger scale of investment and higher yield rate of return.Thirdly,as to the influence on probability of enterprise entrust finance,bank association substitutes regional financial culture.
2017, 23(3):23-34. DOI: 10.11835/j.issn.1008-5831.2017.03.003 CSTR:
Abstract:In order to study the effect of financial leverage,interest rate liberalization on China's macro economy,this paper introduced a new Keynesian dynamic stochastic general equilibrium model of the financial accelerator mechanism.At the same time,we introduce eight shocks,including wage inflation shock,monetary policy shock,investment shocks,government purchases shock,preferences shocks,financial impact shock and productivity shock,and analyze the effects of various shocks on the economy about the presence or absence of the financial accelerator,different financial levers and the interest rate liberalization three cases,using the data from Q1of 2001 to Q4 of 2013,and using Bayesian inference method to estimate DSGE model.The results show that:1) In the financial accelerator mechanism,shocks would magnify the impact of economic fluctuations,and financial impact shock explained most of the disturbance information; 2) Compared with the financial leverage ratio of 1.5 and 2.5,all shocks had great effect on the economy when the financial leverage ratio was 2; 3) The interest rate liberalization would be the role of economic through monetary policy shock and financial impact shock.The endogenous variables follow a similar hump-shaped trajectory under the shock of monetary in which has the greatest impact on labor supply and investment.While the financial impact shock has greater impact on output,consumption,investment and labor supply.Therefore,we have four policies including having a certain leverage grace period,deepening and steadily promoting interest rate liberalization reform,continuing implementation of prudent monetary policy and proactive fiscal policy,for steady growth,promoting reform,adjusting the economic structure and improving people's livelihood.
DENG Liling , WANG Zhiqiang , XIONG Haifang
2017, 23(3):35-44. DOI: 10.11835/j.issn.1008-5831.2017.03.004 CSTR:
Abstract:The asymmetry of volatility could be correctly explained by jumps which also involve some information additionally.In order to improve the prediction of volatility,by employing the realized volatility and non-parametric jump detection method using high frequency data,this paper discusses the effect of jumps of different risk characteristics on future volatility based on the study of the asymmetry of volatility and conducts an empirical analysis with the SH indexes panel data from 2009 to 2014.The results indicate that systematic jumps of economic cyclical industry indexes bear significant effect on volatility prediction,which means a high degree of correlation between the market index and industry index; while those aperiodic industry indexes almost show no discernible leverage effect,with lower correlation of the market index.
DAN Bin , LIU Molin , LUO Xiao
2017, 23(3):45-51. DOI: 10.11835/j.issn.1008-5831.2017.03.005 CSTR:
Abstract:The differentiation integration of product and service in supply chain must evolve into innovation-modes of product and service supply chain.In view of the differentiation of integration characteristic of product and service,this paper establishes classification figure of product and service supply chain modes based on the differentiation integration of product and service.Considering the differentiation integration of product and service having significant impact on product and service supply chain,this paper puts forward four kinds of typical modes,which are interactive type of PSSC,derivative type of PSSC,assistant type of PSSC and loose type of PSSC.The paper analyzes the connotation and characteristic of each supply chain modes with actual cases,develops the analysis of the applicable for each supply chain modes,establishes the cooperation relationships conformed to internal relations between supply chain enterprises,and proposes the development countermeasures when enterprises implement the product and service supply chain.
2017, 23(3):52-62. DOI: 10.11835/j.issn.1008-5831.2017.03.006 CSTR:
Abstract:Performance of contract is largely affected by perceived justice of the private.Firstly,the definition of perceived justice of the private is developed and it is analyzed in different dimensions through literature review.Secondly,its measuring items are obtained through adjusting the result of encoding which has been gained in the former qualitative research using investigating in advanced.Thirdly,a measurement scale of perceived justice of the private is developed with good reliability and validity using structural equation model to investigation in a sample of 89.It includes distributive justice,procedural justice and interaction justice,with total of 3 dimensions and 19 items.The result of research shows that risk actually assumed by the private consistent with agreement has more significant influence on distributive justice comparing to revenue actually gained by the private be consistent with agreement; the influence of rationality of performing duties by the public,effectiveness of the right to know by the private,effectiveness of the right to doubt by the private on procedural justice are increased in turn.Treating mutually has more important influence on interaction justice comparing to information exchange.
2017, 23(3):63-69. DOI: 10.11835/j.issn.1008-5831.2017.03.007 CSTR:
Abstract:Innovation is the essence of the prosperity and development of humanities and social science research,and quality is the driving force for the prosperity and development of humanities and social science research.To construct the evaluation mechanism of humanities and social science research,we must follow the evaluating criteria that innovation is first and establish the evaluation orientation that quality is first.Based on the analysis of innovation theory and quality conception of humanities and social science research,this paper discussed the relationship between innovation and quality of humanities and social science research.And the connotation and dimensions of humanities and social science evaluation mechanism were expounded under the innovation theory and quality conception.
2017, 23(3):70-76. DOI: 10.11835/j.issn.1008-5831.2017.03.008 CSTR:
Abstract:Scientific evaluation is conducive to promoting the reform of higher education in China and the construction and development of higher vocational colleges.In 2016,the Research Center for Chinese Science Evaluation established a new index system on the basis of many years' research,and evaluated and analyzed 1336 higher vocational colleges (including 308 private higher vocational colleges) from multiple perspectives.Results showed that:regional disparity,especially regional population and economic disparity,affects the educational level of higher vocational colleges; except for some institutions,the differences in competitiveness of higher vocational colleges are not obvious in the same stage; the average level of comprehensive competitiveness of private higher vocational colleges has not yet reached the national average,which is caused by talent cultivation.
2017, 23(3):77-83. DOI: 10.11835/j.issn.1008-5831.2017.03.009 CSTR:
Abstract:The global food safety accident management system plays an important role in ensuring global food safety.The rise of international soft law in the field of food safety accident management makes up the weakness of global food safety regulation.WHO makes a special contribution in this field.WHO's food safety accident monitor,response and treatment system which was constructed by international soft law plays an important role in preventing global food safety accidents and maintaining human healthy.But it has apparent "soft" characteristics,such as,temporality,advocacy and etc.Based on demands of the development of international soft law theory and the practice of global food safety regulation,it is imperative to improve the global food safety accident management system from the perspective of perfection international soft law.
2017, 23(3):84-90. DOI: 10.11835/j.issn.1008-5831.2017.03.010 CSTR:
Abstract:As a market-based environmental pollution control system,emission trading system,with dual attributes of both public law and private law,consists of initial emission allocation,emission trading contract,and government supervision. Emission trading contract,at the heart of the system,reveals its nature of civil law. The primary market of emission trading is the initial allocation of environmental capacity resources by government,reflecting the wills of the state,while the secondary market,as a real market mechanism,is the redistribution of environmental capacity resources among discharging units,reflecting the autonomy of will. At present,people focus more on point source transaction contracts between units,but in future,there is a substantial tendency for trading contracts between point sources and non-point sources. The emission trading contract is different from traditional civil contract in subject,object,forming and effect. The behavior of the contract subject may involve several types of legal responsibilities,which are characterized by concurrence,and the concurrence of responsibilities is not a choice,but to apply at the same time,to ensure a complete relief for the interests damaged.
YUAN Ye , XU Haijing , YUAN Bingru
2017, 23(3):91-96. DOI: 10.11835/j.issn.1008-5831.2017.03.001 CSTR:
Abstract:The series of new real estate policies are intervention measures the central government taken to deal with real estate price soaring. The economic law and economic sociology offer theoretical supports for these measures. This paper briefly analyzed the factors that caused the real estate price soaring and commented on China's new real estate policies from the perspective of economic law and economic sociology to understand the intentions of the new policies more comprehensively,profoundly and detailedly and to get consensus.
2017, 23(3):97-103. DOI: 10.11835/j.issn.1008-5831.2017.03.012 CSTR:
Abstract:The derived type of proceeds of crime is the proceeds of crime that no longer maintain their "original" appearance when acquisited after being disguised or transferred,or a new property derived from the "original" proceeds of crime.It includes three subtypes:alternative income,mixed income and value-added income.For the value-added income:if the investment and business activities the offender engages using the proceeds of crime are illegal or even criminal in itself,it should all be confiscated; on the contrary,only the direct benefits of the proceeds of crime should be confiscated.For the mixed income:if the offender or a third person mixes the proceeds of crime with legitimate property for the purpose of disguising or concealing the proceeds of crime,then the mixed property should be confiscated including the legal part; on the contrary,the legal part should be deducted.When the specific proceeds of crime cannot be confiscated due to original or afterwards causes,the offender's legitimate property equivalent to the proceeds of crime should be confiscated alternatively.
2017, 23(3):104-112. DOI: 10.11835/j.issn.1008-5831.2017.03.013 CSTR:
Abstract:There are different views on how to regulate network virtual property under criminal law.In the perspective of interaction between cyberspace and reality,virtual property refers to network goods that could be analogized with real property in reality.The essence that virtual property is concerned by law is to explore whether those net things have property character deserving to be protected.Embodying debtor-creditor relations between network users and service providers,virtual property is essentially the property of creditor's right type,so it could be included into property benefit in criminal law.In the aspect of criminal regulation of virtual property,the concurrence relations should be harmonized between property crimes and computer crimes.
ZHANG Lijian , YANG Huaxi , WU Chenxu
2017, 23(3):113-119. DOI: 10.11835/j.issn.1008-5831.2017.03.014 CSTR:
Abstract:During the social transition period,the rent-seeking behavior of local government in public decision-making often occurs,which leads to the deviation of public policy,and reduces the credibility and legitimacy of the government.It has a negative impact on the citizens,the government and the society.Through the analysis of the power-oriented factors,institutional factors and interest-driven factors,this paper tried to find out the causes of the rent-seeking behavior of local government in public decision-making,and put forward the governance path.
2017, 23(3):120-125. DOI: 10.11835/j.issn.1008-5831.2017.03.015 CSTR:
Abstract:Based on the textual research and analysis of Feng Youlan's A Short History of Chinese Philosophy and Zhang Dainian's Complete works of Zhang Dainian,this paper analyzed the similarities and differences between Feng Youlan and Zhang Dainian in their focus on Hui Shi's academic status,academic idea and outlook of life,and tried to deepen our dialectical understanding of Hui Shi and increase the positive evaluation of traditional philosophy,then to make the past serve the present and strengthen cultural self-confidence and cultural self-improvement.
2017, 23(3):126-133. DOI: 10.11835/j.issn.1008-5831.2017.03.016 CSTR:
Abstract:Yiban is a new platform for network ideological and political education in universities,and college students are important subjects in the construction of Yiban.This paper made a study on Yiban from a new perspective of college students' engagement,and drew lessons from NSSE,NSSE-China and other college student engagement scale at home and abroad.Besides,the paper analyzed the collected data through questionnaire by using statistical analysis software SPSS19.0 with Chongqing University students samples to build the students' Yiban engagement factor model,which includes environment supporting,recognition,satisfaction,commitment and interaction degrees.It discussed the main influencing factors of college students' engagement and put forward measures and suggestions to improve college students' engagement and bring Yiban's role in network ideological and political education into full play.
2017, 23(3):134-142. DOI: 10.11835/j.issn.1008-5831.2017.03.001 CSTR:
Abstract:Based on the needs for improving the standards of higher education development and promoting national innovation system and infrastructure,PPP has gradually become one of the most important means to propel innovation and reform in higher education. The application of PPP in infrastructure construction is becoming more and more mature,but its application in the field of education especially higher education is still in an initial stage. This paper analyzed the necessity and feasibility of PPP's application in higher education and discussed the problems and corresponding solutions based on two important aspects of legal approach and contractual arrangement,and tried to provide suggestions for the development of PPP in higher education.
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