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Return and Volatility Connectedness between Stock Markets and Macroeconomic Factors in the G-7 Countries
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作者 Ghulam Abbas Shawkat Hammoudeh +2 位作者 Syed Jawad Hussain Shahzad Shouyang Wang Yunjie Wei 《系统科学与系统工程学报:英文版》 SCIE EI CSCD 2019年第1期1-36,共36页
We examine the relationship between return and volatility of the stock markets and macroeconomic fundamentals for the G-7 countries by using monthly data ranging from July 1985 to June 2015. To meet this end, we apply... We examine the relationship between return and volatility of the stock markets and macroeconomic fundamentals for the G-7 countries by using monthly data ranging from July 1985 to June 2015. To meet this end, we apply the spillover index approach based on the generalized VAR framework developed by Diebold and Yilmaz (2012, 2014). The empirical analysis shows strong interactions between the returns and volatilities of the G-7 stock markets and the considered set of corresponding macroeconomic factors including industrial production, money supply, interest rates, inflation, oil prices and exchange rates. The return and volatility spillover transmission/reception dynamics of the relationships between these stock markets and the macroeconomic fundamentals have changed after the global financial crisis of 2008. Our findings provide useful insights for investors and policy makers concerned with the unprecedented swings in the stock markets of G-7 countries. 展开更多
关键词 G-7 RETURN VOLATILITY connectedness MACROECONOMIC factors GENERALIZED VAR
Trade Barriers and Participation in the Global Value Chain:An Empirical Study Based on Anti-dumping toward China
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作者 Xiaosong Wang Zhexi Liu +1 位作者 Yue Lv Chunming Zhao 《中国与世界经济:英文版》 2019年第2期86-106,共21页
This paper investigates the effects of trade barriers on China s participation in the global value chain(GVC)using a thorough decomposition approach for trade volume,total exports,final exports and intermediate export... This paper investigates the effects of trade barriers on China s participation in the global value chain(GVC)using a thorough decomposition approach for trade volume,total exports,final exports and intermediate exports.Our econometric results indicate that anti-dumping(AD)measures initiated by trade partners have restrained the process of China s participation in the GVC.From 2000 to 2014,AD measures reduced the foreign value-added rate of total,final and intermediate exports by 4.5 to 28.7 percent,3.4 to 17 percent and 1.2 to 8.5 percent,respectively.In addition,suffering the effects of AD measures,China s GVC position index declined by 8.2 percent to 28.6 percent during this period.Moreover,AD measures have increased industries'upstream index by 3.2 to 13.7 percent over the same period.These results imply that both the petition and approval of AD cases has had a negative influence on the extent and position of China s GVC participation. 展开更多
关键词 ANTI-DUMPING foreign VALUE-ADDED rate global value chain technology UPGRADING
Internal incentives and operations strategies for the watersaving supply chain with cap-and-trade regulation
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作者 Zhisong CHEN Li FANG Huimin WANG 《工程管理前沿:英文版》 2019年第1期87-101,共15页
Faced with the rapid development of modem industries of agriculture, manufacturing, and services, water resources are becoming increasingly scarce. Industries with high water consumption are generally regulated by the... Faced with the rapid development of modem industries of agriculture, manufacturing, and services, water resources are becoming increasingly scarce. Industries with high water consumption are generally regulated by the government's water cap-and-trade (CAT) regulation to solve the contradiction between the limited water supply and the rapid growing water demand. Supply chain equilibrium and coordination models under the benchmark scenario without water saving and CAT regulation, watersaving supply chain equilibrium and coordination models under the scenario without/with CAT regulation are developed, analyzed and compared. The corresponding numerical and sensitivity analyses for all models are conducted and compared, and the managerial insights and policy recommendations are summarized in this article. The results indicate that (1) Conducting water saving could improve effectively the operational performance of the water-saving supply chain under the scenario without/with CAT regulation.(2) The coordination strategy based on the revenue sharing contract could efficiently coordinate the water-saving supply chain, enhance water consumption reduction rate, and improve the operational performance of the water-saving supply chain.(3) The implementation of CAT regulation enhances effectively water-consumptio reduction in the water-saving supply chain and improves the operational performance of water-saving supply chain.(4) Simultaneous implementation of CAT regulation by the government and adopting coordination strategy by the water-saving supply chain would be superior to any other scenarios/strategies.(5) A suitable water cap based on the industrial average water consumption and historical water consumption data are beneficial for constructing reasonable and effective incentive mechanism.(6) A higher marginal trade price could induce more reduction in water consumption and create better operational performance for the manufacturer and water-saving supply chain, both under the equilibrium and coordination strategies. 展开更多
关键词 WATER-SAVING supply chain equilibrium coordination INTERNAL INCENTIVE cap and trade REGULATION
Technology Importation and Domestic Technology Acquisition in China from the Perspective of Innovation 预览
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作者 俞立平 袁胜军 +1 位作者 彭长生 钟昌标 《中国经济学人:英文版》 2019年第3期66-81,共16页
Foreign and domestic technologies play different roles in a country’s innovation. In recent years, Chinese firms have spent less on importing foreign technology and more on acquiring domestic technology. Based on the... Foreign and domestic technologies play different roles in a country’s innovation. In recent years, Chinese firms have spent less on importing foreign technology and more on acquiring domestic technology. Based on the panel data model, state space model (SSM) and the Bayesian vector autoregressive model, this paper finds that the purchase of domestic technology plays a critical role in the innovation of high-tech firms with an elasticity coefficient higher than that of technology importation before 2010. China’s high-tech firms can effectively absorb purchased domestic technology, which also brings about an increase in their independent R&D input and contributes more to innovation output than imported technology. Performance of technology importation is lackluster but shows an improving trend. Technology importation is not correlated with innovation output and has a substitutive effect with independent R&D input. China is yet to enhance its absorption of imported technology. Elasticity coefficient of technology importation turned positive in 2007 and increased year by year. China should promote synergy between technology importation and domestic technology acquisition. 展开更多
关键词 TECHNOLOGY IMPORTATION ACQUISITION of domestic TECHNOLOGY innovationdriven development state space MODEL (SSM) BAYESIAN vector AUTOREGRESSIVE MODEL
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New Economy in China:Emerging,Operation and Regulatory Reform 预览
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作者 戚聿东 李颖 《中国经济学人:英文版》 2019年第2期2-13,共12页
In the new normal,China must develop a new economy in order to foster new engines of growth.The new economy differs from the traditional economy in many respects,such as its underlying drivers and technical,industrial... In the new normal,China must develop a new economy in order to foster new engines of growth.The new economy differs from the traditional economy in many respects,such as its underlying drivers and technical,industrial and organizational characteristics.This paper reveals six aspects of the mechanism of the new economy,including firm entry strategy,new opportunities,market demand,transition of production factors,industry support and the role of the government.In addition,the operation of the new economy is explained in terms of its underlying drivers,internal operations and external environment.In the new economy,fundamental changes have occurred in monopoly,information asymmetry,externalities,public goods and information security necessitating a new regulatory approach.Regulatory reform is therefore inevitable.China should steadfastly transition from regulatory tightening to deregulation,from economic regulation to social regulation,from discriminatory regulation to fair competition,from the positive list to the negative list,from ex-ante review and approval to ex-post supervision,and from specialized regulation to integrated regulation.Innovations must be encouraged through the use of “regulatory sandboxes.” 展开更多
关键词 new ECONOMY INNOVATION prudent REGULATION REGULATORY RELAXATION
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Reputation repair and corporate donations:An investigation of responses to regulatory penalties
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作者 Xue Xia Fei Teng Xiaolong Gu 《中国会计学刊:英文版》 2019年第3期293-313,共21页
According to the risk management and reputation insurance theory of corporate social responsibility, corporate donations can help a company to repair its reputation after a crisis.This study uses a propensity score ma... According to the risk management and reputation insurance theory of corporate social responsibility, corporate donations can help a company to repair its reputation after a crisis.This study uses a propensity score matching–difference in difference(PSM + DID) methodology to investigate the charitable donation activities of companies that have been subject to regulatory penalties.The analysis of a sample of A-share listed companies in the 2004–2016 period shows that companies significantly increase their charitable donations after regulatory penalties, but this effect weakens over time.Further analysis reveals that non-state-owned companies, companies with higher ownership concentrations, and companies receiving severer penalties are more motivated to make donations after regulatory penalties.By studying the reputation repair behavior of companies that have been subject to regulatory penalties, this study offers further support for the risk management and reputation insurance theory of corporate social responsibility.It also enriches our understanding of companies’ active responses to regulatory penalties and provides insights into companies’ motives for making charitable donations. 展开更多
关键词 REGULATORY PENALTY DONATION REPUTATION REPAIR
Mandatory IFRS adoption and management forecasts: The impact of enforcement changes
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作者 Zhaoyang Gu Jeff Ng Albert Tsang 《中国会计学刊:英文版》 2019年第1期33-61,共29页
We examine how concurrent enforcement changes affect the positive relationship between mandatory IFRS adoption and firms’ voluntary disclosure. We show that the increase in the issuance of management forecasts after ... We examine how concurrent enforcement changes affect the positive relationship between mandatory IFRS adoption and firms’ voluntary disclosure. We show that the increase in the issuance of management forecasts after IFRS adoption is smaller for firms from IFRS-mandating countries with concurrent enforcement changes than for those from countries without such changes. We find no difference in the increase of forecast informativeness between firms from IFRS-mandating countries without concurrent enforcement changes and firms from non-IFRS-mandating countries;however, firms domiciled in IFRS-mandating countries with concurrent enforcement changes exhibit a significantly smaller increase in forecast informativeness. Our findings suggest that better IFRS enforcement distinctly weakens (strengthens) the positive effect of IFRS adoption on voluntary (mandatory) disclosure. 展开更多
关键词 Management forecasts VOLUNTARY disclosure MANDATORY IFRS ADOPTION CHANGES in ENFORCEMENT Information environment
Considering Monopoly Maintenance Cost for an Automobile Purchase in China:A DEA-Based Approach
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作者 DAI Qianzhi LI Lin +2 位作者 LEI Xiyang AN Qingxian TANG Xiao 《系统科学与复杂性学报:英文版》 SCIE EI CSCD 2019年第4期1167-1179,共13页
With the fast growing economy,China has become the biggest automobile market in the world.Many Chinese families buy automobiles to promote individual wellbeing and facilitate the convenience of lives.Automobile purcha... With the fast growing economy,China has become the biggest automobile market in the world.Many Chinese families buy automobiles to promote individual wellbeing and facilitate the convenience of lives.Automobile purchase has become a general and important decision for a Chinese family.However,it is always difficult to make a decision on the automobile purchase that balance the automobiles performance and its cost.Moreover,the automobile maintenance market in China is monopolistic.Thus,the maintenance cost is a significant consideration in automobile purchase decision.This paper employs the concept of data envelopment analysis(DEA)to measure cost performance of the automobile with considering the monopoly maintenance cost.The RCA(ratio of the total price of accessories of an automobile to the price of the automobile)100 index system is used to represent the maintenance cost of each automobile.The structure of the automobile maintenance market can be reflected with including the RCA 100 index system in the performance evaluation.Results of the case study of 28 automobiles in China verify the necessity of considering the maintenance cost in automobile purchase decision. 展开更多
关键词 AUTOMOBILE PURCHASE business ANALYTICS COST performance data envelopment analysis(DEA) MONOPOLY maintenance COST
Virtualization of Real Estate Industry and Housing Bubbles --Empirical Evidence from China 预览
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作者 Beibei Yan Yizhen Wang 《经济管理学刊:中英文版》 2019年第1期22-31,共10页
In the last twenty years, China has experienced a rapid development in the real estate industry. The continuous rising house price causes many social and economic problems and draws a lot of attentions from academia, ... In the last twenty years, China has experienced a rapid development in the real estate industry. The continuous rising house price causes many social and economic problems and draws a lot of attentions from academia, business world and government. Many researchers shed light on this problem from different angles, but till today, it hasn’t been fully resolved. In this paper, we try to examine the real estate bubble from a virtual economic perspective. We think that the virtual feature of real estate alters its economic role from a purely living and working place to a financing instrument. We use the newest monthly data of China real estate market from 2006 to 2018 and estimate the relationship between the housing bubble and real estate industry virtualization. We identify a significant positive association between house price index and the purchase price of land in real estate investment. This result suggests that virtual feature of real estate has deepen the bubble problem in the industry and its virtualization degree appears to be closely related to the virtual feature of land and its price proportion to real estate investment. 展开更多
关键词 Real ESTATE BUBBLES Virtual ECONOMY China HOUSING
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Users Intention for Continuous Usage of Mobile News Apps: the Roles of Quality, Switching Costs, and Personalization
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作者 Qiongwei Ye Yumei Luo +3 位作者 Guoqing Chen Xunhua Guo Qiang Wei Shuyan Tan 《系统科学与系统工程学报:英文版》 SCIE EI CSCD 2019年第1期91-109,共19页
Mobile news apps have emerged as a significant means for learning about latest news and trends. However, in light of numerous news apps and information overload, motivating users to adopt one app is a major concern fo... Mobile news apps have emerged as a significant means for learning about latest news and trends. However, in light of numerous news apps and information overload, motivating users to adopt one app is a major concern for both the industry and academia. Therefore, considering the attributes of mobile news and the debate on switching costs in the Internet context, based on the expectation-confirmation model (ECM), this study suggests that switching costs still exist and have a significant moderating effect on user satisfaction and continuous usage of mobile news apps. Furthermore, the different influences of information quality, system quality and service quality on continuance intention, user satisfaction and switching costs are discussed, showing that quality of information has a significant impact on users’ continuous usage of mobile news apps through increasing perceived usefulness, whereas personalized service quality have stronger effects through increasing user satisfaction and switching costs. 展开更多
关键词 Personalized recommendation switching COSTS mobile news APPS expectation-confirmation model
Do Political Connections Promote Innovation in Environmentally Polluting Enterprises?
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作者 Jianhua Zhang Xiaoqing Li +1 位作者 Hung-Gay Fung Penghua Qiao 《中国与世界经济:英文版》 2019年第3期76-101,共26页
We use an unbalanced panel data analysis to examine the effect of political connections(PCs)in state-owned enterprises(SOE)and non-SOEs on the innovation of Chinese environmentally polluting enterprises listed on the ... We use an unbalanced panel data analysis to examine the effect of political connections(PCs)in state-owned enterprises(SOE)and non-SOEs on the innovation of Chinese environmentally polluting enterprises listed on the Shanghai and Shenzhen Stock Exchanges from 2007 to 2016.Our sample consists of 792 firms and 4587 firm-year observations.There are several interesting findings.First,SOEs that are politically linked to the central government promote more innovation in general and more environmental innovation than SOEs without these links.Second,privately-owned enterprises(non-SOEs)with PCs promote less environmental innovation than non-SOEs without PCs.Third,environmental regulation does not affect the environmental innovation of SOEs but it drives non-SOEs with PCs to become more environmentally innovative.Our results enable us to better understand how PCs and regulations affect environmental innovation. 展开更多
关键词 ENVIRONMENTAL INNOVATION ENVIRONMENTAL regulation HIGHLY polluting ENTERPRISES POLITICAL connections
Reference Dependent Preference and Labor Supply:Evidence from China
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作者 Guanfu Fang Guanliang Hu Lan Yao 《中国经济学前沿:英文版》 2019年第2期264-301,共38页
This paper investigates the daily labor supply decisions of Hangzhou cabdrivers. We find that Hangzhou cabdrivers.wage elasticity is significantly positive, their working decisions are largely affected by shift time, ... This paper investigates the daily labor supply decisions of Hangzhou cabdrivers. We find that Hangzhou cabdrivers.wage elasticity is significantly positive, their working decisions are largely affected by shift time, and crude proxy variables for income;hours targets can hardly explain their working behavior. Nevertheless, Hangzhou cabdrivers are still affected by reference dependent preference. Using new empirical strategies, we show that cabdrivers are more likely to continue working when wage rates are unexpectedly low and more likely to quit when wage rates are unexpectedly high. 展开更多
关键词 REFERENCE DEPENDENT PREFERENCE WAGE ELASTICITY LABOR supply income shock
How did the price and income elasticities of natural gas demand in China evolve from 1999 to 2015? The role of natural gas price reform
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作者 Kangyin Dong Xiucheng Dong Renjin Sun 《石油科学:英文版》 SCIE CAS CSCD 2019年第3期685-700,共16页
As a cleaner,high-efficiency,and low-carbon fuel,natural gas has been an important fuel resource for China.To achieve a substantial increase in natural gas demand,China has sought to reform its natural gas pricing mec... As a cleaner,high-efficiency,and low-carbon fuel,natural gas has been an important fuel resource for China.To achieve a substantial increase in natural gas demand,China has sought to reform its natural gas pricing mechanism.Employing a set of unbalanced panel data for China’s 30 provinces covering 1999-2015,this study aims to estimate the evolving price and income elasticities of natural gas demand and explore the effect of natural gas price reform in China.For this purpose,a series of econometric techniques allowing for cross-sectional dependence and slope homogeneity is utilized.The results suggest that although natural gas demand in China still lacks negative price elasticity,the phenomenon is improving.Moreover,the estimates suggest that natural gas demand in China is indeed becoming increasingly sensitive to income changes.Our estimates also provide strong evidence in favor of the effect of natural gas price reform on the change in price elasticity as the price elasticity decreases in five of the seven regions.In addition,the results indicate large variations in the change in price and income elasticities of natural gas demand across China’s regions.Natural gas demand is becoming more price inelastic in Southwest China and Northwest China,while such demand in North China and East China responds less sensitively to income changes.These findings offer several policy suggestions for the reform of China’s natural gas market at the national and regional levels. 展开更多
关键词 Natural gas DEMAND PRICE and INCOME ELASTICITIES PRICE REFORM Regional analysis China
A Double Varying-coefficient Modeling Approach for Analyzing Longitudinal Observations
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作者 Qun-fang XU Rui LI 《应用数学学报:英文版》 SCIE CSCD 2019年第3期671-688,共18页
The identification of within-subject dependence is important for constructing efficient estimation in longitudinal data models.In this paper,we proposed a flexible way to study this dependence by using nonparametric r... The identification of within-subject dependence is important for constructing efficient estimation in longitudinal data models.In this paper,we proposed a flexible way to study this dependence by using nonparametric regression models.Specifically,we considered the estimation of varying coefficient longitudinal data model with non-stationary varying coefficient autoregressive error process over observational time quantum.Based on spline approximation and local polynomial techniques,we proposed a two-stage nonparametric estimation for unknown functional coefficients and didn’t not drop any observations in a hybrid least square loss framework.Moreover,we showed that the estimated coefficient functions are asymptotically normal and derived the asymptotic biases and variances accordingly.Monte Carlo studies and two real applications were conducted for illustrating the performance of our proposed methods. 展开更多
关键词 AUTOREGRESSIVE process DOUBLE VARYING COEFFICIENT IRREGULAR time quantum LOCALLY linear
Anti-corruption, government subsidies, and investment efficiency
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作者 Huili Zhang Ran An Qinlin Zhong 《中国会计学刊:英文版》 2019年第1期113-133,共21页
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 n... 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 enter- prises from the perspective of government subsidies. We conclude that govern- ment subsidies have a significant positive impact on the overinvestment behavior of enterprises and that the anti-corruption work done by the govern- ment 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 stateowned 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 governmentand enterprises, to rationalize the distribution of administrative resources, and to promote the sustained and healthy development of the national economy. 展开更多
关键词 ANTI-CORRUPTION GOVERNMENT SUBSIDIES INVESTMENT EFFICIENCY Type of controlling SHAREHOLDERS
Nonlinear Capital Flow Tax: Capital Flow Management and Financial Crisis Prevention in China
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作者 Jiandong Ju Li Li +2 位作者 Guangyu Nie Kang Shi Shang-Jin Wei 《中国与世界经济:英文版》 2019年第4期1-28,共28页
How to promote capital account liberalization while preventing financial crises is a challenging task for policymakers. This study proposes a nonlinear (progressive) capital flow tax as a solution. We first demonstrat... How to promote capital account liberalization while preventing financial crises is a challenging task for policymakers. This study proposes a nonlinear (progressive) capital flow tax as a solution. We first demonstrate that the collateral requirement of international borrowing can give rise to multiple equilibria and self-fulfilling financial crises. We then show that the crisis equilibrium characterized by large exchange rate depreciation, capital flight and welfare loss can be eliminated by imposing a nonlinear (progressive) tax scheme on capital outflows with the marginal tax rate increasing with the size of individual capital outflows. The implementation of such a tax scheme in China is also discussed. 展开更多
关键词 CAPITAL ACCOUNT OPENNESS financial crisis NONLINEAR CAPITAL flow TAX
Homeownership, city integration, and the sense of happiness of migrants in urban China
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作者 Sihan Zhang Chuanlu Hou Jing Chen 《中国工商管理研究前沿:英文版》 2019年第1期33-52,共20页
In the literature on the migrant phenomenon in China, homeownership, city integration, and sense of happiness have all been examined, yet the synergetic relationship among these three factors has not been fully discus... In the literature on the migrant phenomenon in China, homeownership, city integration, and sense of happiness have all been examined, yet the synergetic relationship among these three factors has not been fully discussed. This study uses the 2012 National Dynamic Monitoring Database of Migrants created by the National Health and Family Planning Commission of China to explore the cooperative relationship between migrants, homeownership, city in teg ration and the sense of happiness. Generally, renting houses reduces migrants/ sense of happiness. However, with migrantsz greater integration into the place to which they have migrated, the sense of happiness of migrants who live in rental houses is enhanced to a greater degree than those who live in their own houses. This phenomenon is clear among migrants who have moved from less developed regions to developed regions and among those who have moved relatively longer geographical distances. This study demonstrates a city integration mechanism through which homeownership influences migrants' sense of happiness. We con tribute to happiness economics research and propose a scientific basis for speeding up new urbanization as well as improving a housing system which encourages both house renting and purchasing in China. 展开更多
关键词 HOMEOWNERSHIP CITY INTEGRATION SENSE of HAPPINESS China Rental house MIGRANTS Urbanlization Hukou
Compari ng the con figured causal antecedents of exploration and exploitation: a fuzzy set qualitative comparative analysis
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作者 Lulu Liu Fengbin Wang Xiukun Li 《中国工商管理研究前沿:英文版》 2019年第1期53-77,共25页
Although exploration and exploitation, as a pair of paradoxical organizational outcomes, are generated by different causal conditions, the conjunction of their respective causal antecedents has yet to be fully examine... Although exploration and exploitation, as a pair of paradoxical organizational outcomes, are generated by different causal conditions, the conjunction of their respective causal antecedents has yet to be fully examined. Combining environmental uncertainty, unit interdependence, entrepreneurial bricolage and firm life cycle stage in a qualitative comparative analysis (QCA), the distinct causal configurations of exploration and exploitation are formalized and compared based on a survey of founders or high-level managers in 63 small firms. Results show that contrasted relationships between entrepreneurial bricolage and unit interdependenee exist in that the two antecedents are partial substitutes in exploration whereas they are complements in exploitation when combined with other conditions. This study provides empirical evidence on the causal configurations of exploration and exploitation and deepens our current understanding of ambidexterity. 展开更多
关键词 Exploration Exploitation AMBIDEXTERITY Configuration Qualitative comparative analysis (QCA) Environmental uncertainty ENTREPRENEURIAL BRICOLAGE Unit interdepe ndence
Multidimensional Poverty and Poverty Reduction Policies in Rural China during 1995-2013 预览
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作者 詹鹏 沈扬扬 李实 《中国经济学人:英文版》 2019年第2期25-38,共14页
Using the multidimensional poverty index(MPI),this paper measures the intertemporal change in poverty in China’s rural areas during 1995-2013,decomposes major poverty reduction factors,and creates a correlation betwe... Using the multidimensional poverty index(MPI),this paper measures the intertemporal change in poverty in China’s rural areas during 1995-2013,decomposes major poverty reduction factors,and creates a correlation between poverty reduction factors and national pro-farmer and poverty reduction policies.Our findings suggest that multidimensional poverty has been greatly alleviated in rural China on all fronts beyond the income dimension.Specifically,the burden of out-of-pocket medical expenses contributed the most to the overall poverty of farmers in the 1990s;this gap was subsequently mitigated by the New Rural Cooperative Medical Insurance System.Lack of economic empowerment-the second most prominent manifestation of poverty two decades ago-has been alleviated with public welfare improvements.In the present stage,health and healthcare are the primary difficulties facing poor farmers multidimensionally.Sub-groups such as elders,those less educated and those living in western China or in poor counties suffer from a high degree of poverty.This implies that multidimensional poverty is concentrated among the underprivileged groups and in less developed regions,whom should be policy priorities.Robustness tests suggest that the paper’s conclusion still holds after changing the proxy variables of the subdimensions,revising weights or removing some dimensions. 展开更多
关键词 pro-poor POLICY MULTIDIMENSIONAL POVERTY intertemporal change ROBUSTNESS test
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Rural Migrant Workers' Welfare and Labor Protection in China under the Labor Contract Law 预览
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作者 杜鹏程 徐舒 吴明琴 《中国经济学人:英文版》 2019年第2期81-94,共14页
This paper employs difference-in-differences(DID)approach to evaluate the effects of China’s Labor Contract Law’s implementation on rural migrant workers’welfare.Our findings suggest that the Labor Contract Law has... This paper employs difference-in-differences(DID)approach to evaluate the effects of China’s Labor Contract Law’s implementation on rural migrant workers’welfare.Our findings suggest that the Labor Contract Law has reduced rural migrant workers’ working hours by 23%,and increased their social insurance coverage by 10% to 26%.This conclusion holds true after removal of sample selection bias and policy expectation factor.Further analysis reveals that Labor Contract Law’s welfare improvement effect was more significant for migrant workers in regions where workers had poor bargaining power.Other economic factors during the same period of time did not affect the law’s labor protection effect.Our findings give a clear answer to controversies over whether the Labor Contract Law can improve labor rights for underprivileged groups,and are of reference value for developing labor protection systems. 展开更多
关键词 LABOR PROTECTION MIGRANT workers’welfare SELECTIVE BIAS
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