Archive

15 January 2017, Volume 0 Issue 1    Next Issue

---

For Selected:

Download Citations EndNote Ris BibTeX

Toggle Thumbnails

Select

Taxation Pressure, Capital Squeeze and Wage Share: A Study Based on the Data of China's Manufacturing Listed Companies ZHONG Chunping, CHEN Liang, XUE Cuiying 2017, 0(1): 3-14.  Abstract ( )   PDF (252KB) ( )   From the micro-level, this paper measures the proportion of labor income and tries to reveal the deep-lying causes, the interest distribution mechanism behind and the internal logic for the lower proportion of labor income from the institutional aspect. By making use of the data of China's manufacturing listed companies, it measures the changing trend of wage share paid by enterprises and conducts a quantitative test on the factors affecting the wage share. The results show that, on the average, taxation accounts for 41.0% as the highest, labor wage accounts for 32.8%, and capital share accounts for 26.2%; the share of capital is rising, indicating that laborers are generally in a disadvantageous position. The analysis reveals that the wage share is affected by such factors as the interest gaining capacity of both of the labor and the management, the business taxes to the government and the capital costs payment level. When the labor side lacks sufficient protection, enterprises would shift the excessive taxation and capital pressure to the laborers, leading to the decrease of wage share. The internal causes are that the government levies taxes on the enterprises, in turn the enterprises squeeze the wages of the laborers; because the laborers are short of enough ability to protect their interests, finally their wage and the wage share are always low and declining. References | Related Articles | Metrics

Select

Does World Bank Underestimate the Purchasing Power Parities in Developing Countries--A Measurement Study Based on Modified Balassa-Samuelson Effect XIE Chang, CHANG Kun 2017, 0(1): 15-24.  Abstract ( )   PDF (223KB) ( )   World Bank published in 2014, the purchasing power parities data of all the countries in the 2011 round of ICP and each country's GDP converted by purchasing power parities. The data shows that the economic aggregate of the developing countries rose sharply compared with that before converted, which raised some doubts about whether their purchasing power parities are systematically underestimated. Through an in-depth analysis of the existing literature on the measurement of the purchasing power parities bias which are not sufficient, this paper works out a method to measure the purchasing power parities bias in underdeveloped regions by taking EU-OECD as a reference system and on the basis of the modified Balassa-Samuelson effect (BS effect) theory. The results show that the purchasing power parities in Asia Pacific, Africa, and west Asia are systematically underestimated by 30%, so that the economic aggregate of these regions is seriously overestimated, which is calculated with purchasing power parities as a currency conversion factor. The main reasons for the underestimation of the purchasing power parities in the underdeveloped regions are as follows: the lower quality of the basic price data, the difficult coordination between the representativeness and comparability of the standard products, and the influence of the expenditure weights in the global aggregation method of purchasing power parities. References | Related Articles | Metrics

Select

A Comprehensive Evaluation of China's Provincial Ecological Pressure and Ecological Efficiency--Based on Ecological Footprint Method WANG Junjie 2017, 0(1): 25-37.  Abstract ( )   PDF (355KB) ( )   This paper measures China's provincial ecological footprint per capita from 1995 to 2013 and the biocapacity per capita in 2009 based on the ecological footprint method. The results show that the per capita ecological footprint of most provinces and cities presents a rapid upward trend. The per capita ecological footprint is different greatly from province to province and the differences are not the same as that of their economic development levels. It can be seen from the per capita ecological footprint and the ecological capacity per capita that Qinghai, Yunnan, Guangxi, Heilongjiang and Gansu are faced with lower ecological pressures, while Tianjin, Shanxi, Shanghai, Shandong, Liaoning and Beijing are faced with high ecological pressures. In general, the ecological pressure on the developed regions is greater than that on the underdeveloped regions. The ecological efficiency of most provinces shows a rapid upward trend, with an average annual increase of 5.6%. The factor decomposition results show that, on the whole, the increase of ecological efficiency is the result of the increase in total factor productivity (TFP), the contribution of factor substitution is negative. This illustrates that China has not paid enough emphasis on eco-environmental protection. TFP growth rate increased significantly after China's entrance of WTO, but decreased after 2008. The negative growth of factor substitution mainly happened during the period of 2001-2008. From the perspective of factor substitution, the western region has paid least emphasis on eco-environmental protection, and only four provinces and cities, Beijing, Anhui, Yunnan and Liaoning, have paid enough attention to the eco-environmental protection in each stage. References | Related Articles | Metrics

Select

The Equality Effect of Wage Income Tax and Its Reform: An Empirical Test Based on Kakwani Index LI Hua, ZHU Lingxuan 2017, 0(1): 38-46.  Abstract ( )   PDF (184KB) ( )   By decomposing the K index of taxation elements, this paper makes a vertical comparison on the equality effect of wage income tax between before and after the reform and a horizontal comparison between different taxation elements. The empirical result shows that China's wage income tax (WIT) has a weak stimulation effect on the social equity as a whole, but the tax reform in 2011 was harmful to it. As for the taxation elements, the tax rate and the tax exemption volume are in favor of income equality, while the social security deduction (SSD) has the reverse effect. Under different income levels, the reverse adjustment degree of SSD decreases with the increasing income of the taxpayers. Meanwhile, the different items of SSD have different reverse adjustment levels on the residents' income distribution, in which the housing accumulation fund (HAF) has the most obvious reverse adjustment effect. Therefore, it is suggested that in the future more attention should be paid to the equality effect of WIT so as to give full play to its role in fair income distribution; the tax exemption volume of WIT should be determined rationally so as to improve its progressivity; the SSD system should be improved, and a tax-transfer payment system should be designed in an overall manner. Related Articles | Metrics

Select

An Empirical Analysis of the Optimal Level of China's Macro Tax Burden: From the Perspective of Economic Growth YAO Linxiang, WANG Zhuwang 2017, 0(1): 47-55.  Abstract ( )   PDF (188KB) ( )   The relationship between the tax revenue and economic growth can be more accurately described by adopting the revised macro tax burden after eliminating the impact of non-tax factors on economic growth. The findings of this study indicate that there exists negative correlation between China's macro tax burden and economic growth, but the taxation structure is positively correlated to the economic growth, and the non-tax factors are more and more favorably affecting the economic growth. During the latest 10 years, the caliber of China's three macro tax revenue, especially the large caliber of the actual tax burden, is higher than that of the optimal macro tax burden, even goes beyond the upper limit of the interval of the optimal tax burden. Therefore, from the perspective of economic growth, China should reduce properly the macro tax burden, further optimize the taxation structure, increasingly lower the percentage of indirect tax, and make full use of the synergistic effect of such non-tax factors as the fiscal policy, the monetary policy, the industrial policy and so on. References | Related Articles | Metrics

Select

The Relationship between Fiscal Budget Transparency and Local Official Corruption in China LI Chungen, XU Jianbin 2017, 0(1): 56-63.  Abstract ( )   PDF (216KB) ( )   Fiscal budget transparency is playing an important role in the supervision and restriction of public power; therefore, it can have a significant impact on the corruption of the local officials. In the context of the new normality of anti-corruption and the budget system reform, this paper makes an empirical study by constructing provincial panel data. The results indicate that the fiscal budget transparency at provincial level has a significant negative effect on the degree of corruption of local officials. In the dynamic model, on average, if the value score of fiscal budget transparency increases by 10 points, the number of the corruption cases of per ten thousand public servants will reduce by 0.85, which is equivalent to 3.5% decline of the degree of corruption. Therefore, the new“Budget Law” should be taken as an opportunity and some measures, such as amending and improving the related laws, should be adopted, so as to improve the levels of fiscal budget transparency of governments at all levels and make full use of the corruption governance effect of fiscal budget transparency. References | Related Articles | Metrics

Select

A New Perspective to Measure the Fluctuation of RMB Exchange Rate：The Financial Effective Exchange Rate Index WANG Yang, RONG Jing 2017, 0(1): 64-74.  Abstract ( )   PDF (227KB) ( )   The construction of the RMB effective exchange rate index can be discussed from the two angles of risk free financial assets and risk financial assets. On the basis of the theory of the covered interest parity, the financial effective exchange rate index built from the perspective of risk free financial assets transits its focus from the effective exchange rate index at sight to the forward effective exchange rate index, which can improve the RMB financial effective exchange rate index system from the perspective of financial assets, thus it can be used to measure the pressure on increase and decrease in value that RMB is faced, providing the investors with foresight references to weigh the external value of a currency. The results indicate that the differences between the trends of RMB financial effective exchange rate index under different time limits are mainly caused by the factor of interest margin both at home and abroad, but the fluctuation of the spot rate is the major factor influencing the trends. References | Related Articles | Metrics

Select

Relationship between Years of Education, Life Expectancy and Savings Rate under the Mandatory Retirement Age Regulation: Effects of Delayed Retirement on Residents' Savings Rate ZHANG Zhiyuan, ZHANG Minghong 2017, 0(1): 75-84.  Abstract ( )   PDF (221KB) ( )   This paper analyzes the impact of education years and life expectancy on the residents' savings rate, so as to explore the possible impact of delayed retirement on the residents' savings rate. The findings indicate that under the existing statutory retirement institution, the increased years of education would shorten the employment period, while the increased life expectancy would extend the retirement period, both can jointly reduce the ratio between employment period and retirement period, thereby increasing the residents' savings rate; however, the delayed retirement can just hedge this change, thus affecting the residents' savings rate. The empirical results of the analysis of the provincial panel data with the GMM method show that if life expectancy increases by one year, the savings rate would increase by about 0.4 percentage points; and if years of education increases by one year, the savings rate would increase by 0.75 percentage point. It can be seen that the delayed retirement age is conducive to the decline of residents' savings rate. References | Related Articles | Metrics

Select

Concept and Structural Dimensions of Humble Leadership in Chinese Organizational Situation: A Qualitative Research from the Follower-Centric Perspective LI Shenglan, WANG Biying, GAO Riguang 2017, 0(1): 85-94.  Abstract ( )   PDF (215KB) ( )   The frequent occurrence of corporate scandals has led to growing attention to the concept of “humble leadership”. At present, the academic circle mainly focuses on the humble behavior or characteristics of leaders, but lack of clarification of connotations of humble leadership. Taking 68 employees as a sample, this paper collects data through questionnaires and conducts a qualitative research. The results show that humble leadership in Chinese organizational situation includes four dimensions: moral model, humble behavior, steady wisdom and subordinate orientation. In other words, Chinese organizations place greater emphasis on virtue and show more subordinate-oriented behaviors. In addition, to combine humble behaviors with higher leadership skills can be more effective. Compared with other local leaders' behaviors, the difference between humble leadership and servant leadership lies in humble behaviors, while the difference between humble leadership and authentic leadership lies in such dimensions as moral model, steady wisdom and subordinate orientation. References | Related Articles | Metrics

Select

The Impact of Social Network on Corporate Diversification: An Empirical Study of China's Tourism Listed Companies PANG Xiaoping, CHEN Chuanming, WANG Han 2017, 0(1): 95-106.  Abstract ( )   PDF (232KB) ( )   Many companies are faced with diversified strategic choices, especially for the companies in tourism industry which have innate tendency of diversification due to the high risk market. Taking the listed companies in China's tourism industry from 2005 to 2013 as samples, this article tries to analyze the correlation and causality between the social network at different levels and the corporate diversified strategies by comprehensively using the methods of quantitative multiple linear regression and qualitative comparative study, and a robust and consistent conclusion comes out in the end. The corporate social network may help enterprises reduce trade costs in gaining access to external resources, thus reducing the motivation of enterprises to internalizing the external resources through diversification; individual social network will help the management to gain knowledge and information of new products and markets, so as to improve their capability for diversification. Meanwhile, in the uncertain market environment, the corporate social network can help enterprises to control their transaction costs more effectively, so as to further reduce their motivation for diversification. References | Related Articles | Metrics

Select

An Analysis of the Dynamic Effect of China's E-commerce Development on Export: Evidences from the Countries Involved in the Belt and Road Initiative XU Tongsheng, YANG Ying, CHEN Ya 2017, 0(1): 107-119.  Abstract ( )   PDF (256KB) ( )   E-commerce is one of the important contents of “Internet+”. With the entropy method, this paper measures the development level of China's E-commerce and analyzes the mechanism of its impact on export trade. Based on the data of China's exports to 60 countries involved in the Belt and Road Initiative from 1999 to 2014 and adopting the panel vector auto-regression model, it tries to validate the dynamic effect of E-commerce development on export. The results show that China's E-commerce development is presenting a continuously rising momentum, which has a positive impact on the one phase lag export and its binary margins, the impact on the intensive margin is greater than that on the expansion margin. In the second phase, it has a negative impact on the binary margins, but in other times, it has only positive impacts. Its contribution to the changes of export value is the biggest, followed by the changes of the intensive margin, and its contribution to the changes of expansion margin is the least. Therefore, to strive to develop E-commerce and effectively control its risks is an important measure to promote exports and its binary margins. References | Related Articles | Metrics

Select

Education Bias Effect on Employment of Export Trade: An Empirical Study Based on China's Family Income Survey CHEN Hao 2017, 0(1): 120-130.  Abstract ( )   PDF (210KB) ( )   By matching Chinese Household Income Project Survey (CHIPS) with the municipal export statistical samples, this paper constructs an education year explanation model which contains the export trade scale, and makes an empirical investigation on the impact of trade export scale expansion on the employment of highly-educated labor force. The result shows that, although export trade expansion in prefecture-level cities brings forward the increment of highly-educated labor force by significantly extending education year of low-educated workers, the improvement of the education level of the existing highly-educated workers is limited. Therefore, as far as China's current export product structure and the enterprise distribution conditions are concerned, the export trade can better promote the employment of labor force with less education, while the employment increase of highly-educated labor force should rely on comprehensive improvement of the quality of future export products. References | Related Articles | Metrics

Select

Research on Organizational Structure Reengineering and Accounting Method Based on Dynamic Capability Enhancement HU Chunhui, XU Guojun, AN Yi 2017, 0(1): 131-144.  Abstract ( )   PDF (284KB) ( )   The nature of dynamic capability enhancement requires enterprises to construct a “platform” (organization structure) for actors to play their roles, and to achieve accurate accounting of behavior contribution of every actor. This study finds out that the evolution law of organizational structure shows that “fragmentation” is the direction chosen by the market. The dynamic capability enhancement requires that enterprises should construct an organization structure of full “fragmentation” to meet customers' needs; its mechanism should be that the enterprise provides resources, and the actor operates on borrowings with his wisdom. In such structure, the “dual structure” debit-credit bookkeeping method can avoid disadvantages of traditional accounting method, which is not able to carry out accounting on every actor because it is confined by its centralized accounting entity. By opening the actor's account, the “dual structure” debit-credit bookkeeping method can achieve accurate accounting of individual actor and the whole enterprise on the basis of accounting behavior cost and behavior value of the behavior bunch. Thus, the microeconomic foundation for dynamic capability enhancement can be constructed from the two aspects of “platform” providing and “will” stimulating. References | Related Articles | Metrics

Select

Research on the Path for National Audit Participating in the Realization of Elements of Good Governance WU Qiusheng, HUANG Xianhuan 2017, 0(1): 145-156.  Abstract ( )   PDF (236KB) ( )   The path for national audit participating in national governance is studied based on the basic elements of good governance. National audit can perfect the announcement of audit results and the publicity of audit work, enhance the governmental behavior audit and conduct strict audit and accountability according to laws, strengthen the responsibility audit and realize full-coverage audit, reinforce the performance audit and improve the audit efficiency, and on the basis of full disclosure of audit work and results, actively respond to the audit appeals of the public and organize them to participate in the audit to achieve good governance. References | Related Articles | Metrics