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Published in last 1 year |  In last 2 years |  In last 3 years |  All Please wait a minute... For Selected: Download Citations EndNote Ris BibTeX Toggle Thumbnails Select Does the Digital Transformation of Commercial Banks Improves the Availability of Credit to SMEs GUI He-fa, DENG Ru-sha Journal of Jiangxi University of Finance and Economics    2024, 0 (1): 25-36.   Abstract （208）            Knowledge map    Save Taking the data of SMEs in Chinese market from 2010 to 2021 as the research sample, this paper focuses on the impact of commercial banks’ digital transformation on the credit availability of SMEs and the role of banking governance represented by financial regulation and financial competition in the process of commercial banks’ digital transformation on the credit availability of SMEs. The findings show that the digital transformation of commercial banks can significantly improve the credit availability of SMEs and enhance the inclusive financial services for SMEs. The relationship between the banking governance represented by financial regulation and financial competition and the credit availability of SMEs presents a nonlinear inverted“U”shape, that is, there is an optimal intensity of financial regulation and degree of financial competition, which optimizes the credit availability of SMEs. In the process of banking governance affecting the credit availability of SMEs, the digital transformation of commercial banks will affect the optimal intensity of financial regulation and degree of financial competition to optimize the credit availability of SMEs, that is, the higher the level of digital transformation of commercial banks, the higher the optimal financial regulatory intensity and the degree of financial competition that can optimize the credit availability of SMEs. The above-mentioned conclusions have important policy implications for in-depth implementation of financial regulation and correct guidance of financial competition, so as to better promote the digital transformation of commercial banks and improve the availability of credit for SMEs. Reference | Related Articles | Metrics | Comments（0） Select Measurement and Evaluation of the High-Quality Development Level of China’s TouristIndustry TIAN Hong, LIU Cheng-qing Journal of Jiangxi University of Finance and Economics    2024, 0 (1): 37-53.   Abstract （290）            Knowledge map    Save The high-quality development of tourist industry is an important foundation and strong support for promoting Chinese-style modernization. Scientifically measuring and evaluating the level and the changing trend of high-quality development of regional tourism has important theoretical and practical significance. On the basis of defining the connotation of high-quality development of tourist industry, this paper constructs an evaluation index system of high-quality development of tourist industry under the guidance of the new development concept and the sustainable development theory; then it measures and evaluates the level of high-quality development of the tourist industry in 30 provinces in China. The results show thatfrom 2011 to 2019, the high-quality development level of tourism in China generally shows an upward trend year by year, and the industrial development level, the social harmony level, the innovation ability, the cultural and tourism integration degree, and the ecological protection level have been significantly improved. From 2020 to 2021, due to the impact of the COVID-19 epidemic, although the overall development level and the industrial development level have declined, the scores of the other four indicators continued to rise, which reflects that the high-quality development level of tourism of China is constantly improving with the process of high-quality development of China. However, the high-quality development level of tourism in different provinces is significantly different, and the overall development quality is at a medium level. There is still a long way to reachthe high-quality development standards. In the future, to improve the high-quality development level of tourism, we should focus on optimizing the industrial structure, improving the quality of tourism innovation, deepening the integration of culture and tourism, strengthening ecological protection, and other aspects. Reference | Related Articles | Metrics | Comments（0） Select Can the Central Environmental Protection Inspection Improve the Environmental Performance of Enterprises? Empirical Evidences from the Listed Industrial Enterprises ZHANG Rui, YE Yan-yan Journal of Jiangxi University of Finance and Economics    2023, 0 (6): 13-26.   Abstract （179）            Knowledge map    Save As an important means to urge the local governments to perform environmental protection duties and implement environmental policies, the Central Environmental Protection Inspection has a significant impact on the construction of ecological civilization in China. Taking the A-share listed industrial enterprises from 2012 to 2019 as samples, this paper employs the multi-period DID model to investigate the impact of the implementation of the central environmental inspection policies on the environmental performance of enterprises. The findings shows that: (1) the implementation of the Central Environmental Protection Inspection has significantly increased the enterprises’ environmental performance; (2) the Central Environmental Protection Inspection mainly improves the environmental performance of enterprises by strengthening the environmental governance of local governments and the environmental attention of the senior management teams; (3) good external environment, i.e., the level of urban green finance, the level of regional economic development, the analysts’ attention and the perfect internal corporate governance, can strengthen the positive impact of the Central Environmental Inspection on the environmental performance of enterprises; (4) the environmental governance effect of the Central Environmental Protection Inspection is different due to the nature of property rights and pollution degree of enterprises. Compared to state-owned enterprises, the private enterprises are more sensitive to the implementation of the Central Environmental Inspection policies, and the improvement of the enterprise environmental performance is more significant. While in the inside of the state-owned enterprises, the local state-owned enterprises are more sensitive to the Central Environmental Inspection policies than the central state-owned ones. Compared with the non-heavily polluting enterprises, the Central Environmental Inspection has a greater impact on the environmental performance of heavily polluting enterprises. Reference | Related Articles | Metrics | Comments（0） Select Green Finance and Value Realization of Ecological Products: An Empirical Study Based on the Data of the Top 100 Counties in China HUANG Xiao-yong, CHEN Fei-yu, ZHA Yu-xin Journal of Jiangxi University of Finance and Economics    2023, 0 (6): 27-39.   Abstract （179）            Knowledge map    Save Green waters and green mountains are golden mountains and silver mountains, and the concept of ecological civilization of Xi Jinping is the key to implementing the harmonious coexistence between humans and nature, promoting high-quality economic development, and promoting the construction of a beautiful China. To realize the ecological value of the counties is a key issue in implementing the“Two Mountains”concept and promoting high-quality economic and social development. Based on the panel data of all the top 100 counties from 2011 to 2020 in the“Top 100 Counties (Cities) in China’s County Economy and County Basic Competitiveness”released in The Research on China’ Economic Top 100 Counties, 2021, this paper calculates the development level of green finance at county level, and conducts an empirical test of the impact of green finance on the realization of the ecological product value at county level. The findings show that green finance has a significant positive impact on the value realization of county-level ecological products. Based on this, it proposes the relevant countermeasures and suggestions to further improve the green financial system, increase the support for green innovation, and promote the cooperation between counties, so as to provide decision-making reference for promoting the realization of the ecological values in counties in the new development stage. Reference | Related Articles | Metrics | Comments（0） Select An Empirical Analysis of the Role of Manufacturing Servitization in Promoting the International Division of Labor of China’s Manufacturing Industry: From the Perspective of the Regulatory Effect of the Service Opening-Up DU Chuan-zhong, HOU Jia-ni Journal of Jiangxi University of Finance and Economics    2023, 0 (5): 23-36.   Abstract （122）            Knowledge map    Save Manufacturing servitization is an important direction to realize the high-quality development of the manufacturing industry. Based on the measurement of the servitization and openness of China’s manufacturing industry, this paper makes an empirical test on the relationship between the servitization of the manufacturing industry and the international division of labor of the manufacturing industry, as well as the regulatory effect of the opening-up of the service industry by using the data of the microcosmic enterprises. The results show that the servitization of the manufacturing industry is generally conducive to the improvement of the status of international division of labor, and that the opening-up of the service industry can enhance the promotion effect. The heterogeneity analysis reveals that the wholesale and retail servitization, the financial and insurance servitization and the professional science and technology servitization can all significantly improve the status of international division of labor of the manufacturing industry, while the transportation servitization and the information and communication servitization will inhibit the status of international division of labor of the manufacturing industry.The servitization of the manufacturing industry plays the strongest role in the technology-intensive manufacturing industry and the weakest role in the labor-intensive manufacturing industry. In terms of the action mechanism, technology spillover plays an intermediary role in the process of the servitization of the manufacturing industry affecting the status of international division of labor of the manufacturing industry. Reference | Related Articles | Metrics | Comments（0） Select Reform of the Administrative Approval System and Corporate Risk-Taking: A Quasi-Natural Experiment Based on the Establishment of theAdministrative Examination and Approval Centers LI Tian-yu, LI Mang-mang Journal of Jiangxi University of Finance and Economics    2023, 0 (5): 37-50.   Abstract （97）            Knowledge map    Save Incentivizing companies to take a certain level of risk to promote R&D innovation contributes to the high-quality development of the real economy. Based on the theoretical framework of the local information advantages, this paper takes the establishment of the administrative examination and approval centers as a quasi-natural experiment to systematically investigate the impact of the reform of the administrative examination and approval system on the level of corporate risk taking. The results show that the reform of the approval system can significantly improve the level of enterprise risk taking, and this effect is more significant in the companies with higher degree of information dispersion of investment opportunities. The above research conclusions are still valid after the endogenous and robustness tests. The heterogeneity test reveals that in the samples located in the regions with higher marketization or with lower degree of client concentration, the reform of the administrative approval system has a more significant effect on the improvement of enterprise risk bearing level.The test of the action mechanism reveals that the reform of the administrative approval system has significantly improved the investment flexibility and the market competition degree. From the perspective of risk bearing, the research conclusion has revealed the economic effects brought forward by the reform of the administrative approval system and its inner mechanism, it also has a certain enlightenment to further promote the reform of simplifying administrative procedures and delegating powers to lower levels. Reference | Related Articles | Metrics | Comments（0） Select A Study of the Impact of Digital Transformation on the Risk Level of Small and Medium-Sized Banks LIU Hui-chao, WANG Shu-hua Journal of Jiangxi University of Finance and Economics    2023, 0 (4): 23-37.   Abstract （229）            Knowledge map    Save Based on the samples of 112 small and medium-sized banks from 2011 to 2021, this paper analyzes the impact of digital transformation on the risk level of banks from the perspective of mathematical models and empirical studies, meanwhile, it includes the impact of digital transformation on the risk level of banks in the framework of capital replenishment for the analysis. The results show that, firstly, the impact of digital transformation on the risk of small and medium-sized banks has an inverted“U”structure, and this finding still holds after a series of robustness and endogeneity tests; secondly, the heterogeneity tests conducted in terms of size, region, and whether being listed reveals that digital transformation has a higher impact on the larger-scale banks and the small and medium-sized banks located in the eastern region, while the digital transformation of listed banks has a better inhibitory effect on bank risks than that of non-listed banks; thirdly, if capital supplements are provided to small and medium-sized banks in the process of digital transformation, it will also have a moderating effect on the level of bank risks. The above findings suggest that small and medium-sized banks should continue to increase their digital transformation efforts to curb bank risks, and that capital supplements should also be provided to small and medium-sized banks to increase their digital transformation ability to curb bank risks. Reference | Related Articles | Metrics | Comments（0） Select The Nonlinear Effects of Economic Policy Uncertainty on Corporate Debt Maturity Structure WANG Wei, YI Zhuo-rui Journal of Jiangxi University of Finance and Economics    2023, 0 (4): 38-50.   Abstract （140）            Knowledge map    Save Based on the agency cost theory and the trade-off theory, this paper firstly builds a theoretical model to illustrate the effects of economic policy uncertainty on corporate debt maturity structure. Then it uses the quarterly data of China’s listed companies from 2007 to 2021 to conduct empirical tests. The findings of the theoretical model indicate that banks issue long-term loans tofirmswhen economic policy uncertainty is low and short-term loans to firms when economic policy uncertainty is high. The empirical study confirms the conclusion of the theoretical model: with the raising of economic policy uncertainty, the proportion of long term debt will first rise then descend. Considering the endogenous problems such as measurement error and omitted variables, the above conclusion is still significantly valid. The heterogeneity analysis reveals that the critical value of the effects of economic policy uncertainty on the proportion of long-term debt from positive to negative is lower in small firms, private firms and firms located in the regions with low degree of marketization, while it is higher in large firms, state-owned firms and firms located in regions with higher degree of marketization. Reference | Related Articles | Metrics | Comments（0）