Table of Content

21 January 2021, Volume 0 Issue 01

Previous Issue    Next Issue

On the Social Implementation of Economic Law: Source, Feature and Mode

GAN Qiang

2018, 0(01):  237. 

Asbtract ( 125 )  

References | Related Articles | Metrics

The realization of social governance cannot be separated from the implementation of society; and the implementation of society is an objective reality and an effective way of law implementation. The social implementation of the economic laws is a kind of economic law implementation, which refers to the various social measures taken by social organizations or collective individuals in order to realize their social interests protected by economic laws. The emergence of the social implementation of economic laws mainly stems from the innovation of legal system brought forward by the changes of social structures; it has the law enforcement characteristics of modern laws, which is mainly manifested in three aspects: modernity, sociality and autonomy. In addition, it has formed the basic mode of social cooperation with the aim of safeguarding social interests, including the three main implementation modes: profession autonomy, public interest litigation and collective action.

Research on the Legislation Model of Child Welfare in China

WU Peng-fei

2018, 0(01):  238. 

Asbtract ( 118 )  

References | Related Articles | Metrics

For a long time, China has been adopting a decentralized model of child welfare legislation. This model of legislation has the advantages of being flexible, convenient and quick in time. However, it would lead to the lack of uniformity of laws, causing disorders or even conflicts among laws and regulations. In order to promote the legal construction of child welfare and get rid of the plight of the rule of law for child welfare, this paper considers comprehensively such factors as economy, politics, historical culture and international environment, then it proposes that the legislative model of child welfare in China should adopt the inclusive, society participated and comprehensive types in terms of the scope of coverage, the subject of liability and formula. During the process of the construction of the legal system for child welfare in the future, the formulators should on one hand make overall plans for the scientific design of the basic laws for the child welfare, and on the other hand, they should ensure the coordination of the separate laws and the basic law and promote the multi-cooperation of the legal system of child welfare.

Research on the Advertising Education Shift in the New Media Context

ZOU Wen-bing

2018, 0(01):  239. 

Asbtract ( 111 )  

References | Related Articles | Metrics

The quickly-spreading internet-based mobile terminal drives a deep reform in the content and form of information transmission, which is no longer a one-way lineal flow from the message sender to the message receiver. The boundary between the producer and the audience of advertising information is becoming more and more blurred; the traditional advertisement has been deconstructed and is presenting a new advertising vision. In the era of new media, the advertising education should take the new media context as the background, carry out the reforms in such fields as education ideas, faculty training, practical teaching, etc., around the new connotation and new forms of new media advertisement, and guide the students to establish a scientific and systematic advertisement knowledge system, so as to effectively cultivate advertising talents of innovative, practical and inter-disciplinary type.

A Study of the Poverty Alleviation Effect of Rural Residents’ Medical Insurance: An Empirical Analysis Based on PSM

BAO Zhen-yu1,2, ZHAO Yuan-feng1

2018, 0(01):  240. 

Asbtract ( 213 )  

References | Related Articles | Metrics

In the context of“poverty caused by diseases”becoming the main reason for the poverty of poor rural residents, based on the data of China Health and Retirement Longitudinal Study (CHARLS) 2015, this paper employs benchmark model, PSM model and 2RIS model to conduct a systematic investigation of the poverty reducing effect of rural residents medical insurance from the following four aspects: the basic medical insurance, the multiple medical security, different levels of payment and the mechanism of reducing poverty by insurance. The results show that the outpatients section of NCMS cannot reduce poverty. The inpatients section of NCMS can significantly reduce the poverty occurrence rate by 5~7%, because the insurance can reduce inpatient’s own expense by 57% and reduce the occurrence rate of catastrophic medical expenses by 11%. When the reimbursement rate of hospitalization expenses increases by 5%, the poverty rate of rural population can be reduced by 7.7%. Although the multiple medical security has poverty alleviation effect, the result is not stable. These indicate that the focuses of the future health poverty-alleviation project would be to reform the outpatient section of NCMS, consolidate the inpatient section of NCMS and broaden the multiple medical security coverage, for the sake of promoting the realization of the poverty alleviation function of insurance.

Grain Distribution, Non-Farm Employment and Land Transfer: An Analysis Based on CHIP2013 Date

ZHAO Jun-jie1, WU Tian-long2

2018, 0(01):  241. 

Asbtract ( 133 )  

References | Related Articles | Metrics

By making use of the CHIP2013 data, this paper examines the impact of grain distribution and non-farm employment on the area and mode selection of farmers’ land transfer with OLS and Mvprobit models. The findings show that the non-farm employment opportunity can significantly reduce the size of land transfer, while the payroll scale and time of non-farm employment can have a significant positive impact on land transfer. The farmers in the major grain producing areas tend to transfer their land, and the non-farm employment can enhance this promotion effect; while the farmers in the major grain sale areas do not tend to transfer their land, and the non-farm employment can enhances this inhibition effect; as for the grain balanced areas, there is no significant effect on land transfer, it is not significant even if the variable of non-farm employment is added. The farmers in the major grain producing areas are prefer to transfer their land to individuals with compensation, while the farmers in the major grain sale areas and the balanced areas are not willing to transfer their land to individuals; compared to transferring their land to the village collective, the farmers prefer to transfer their land to individuals, enterprises or large farmer-households with compensation. In order to further raise the level of grain safety guarantee, we should treat farmers’ land transfer differently in accordance with the distribution of grain production, and formulate different policies for non-farm employment.

The Impact of Market Discipline on the Risk-Taking Behaviors of Property Insurance Companies：An Empirical Analysis Based on the Non-Balanced Panel Data of 48 Property Insurance Companies

LIU Dong-jiao1, LI Li1, LI Jing-jing2

2018, 0(01):  242. 

Asbtract ( 117 )  

References | Related Articles | Metrics

Based on the data of 48 property insurance companies, this paper conducts an empirical analysis of the impact of the policy-holders’ market discipline on the risk-taking behaviors of property insurance companies. The findings of the research show that at the market supervision stage the policy-holder market has produced a more significant price constraint effect but no quantity constraint effect; while at the market impact stage, the insurance companies failed to change their risk-taking behaviors according to the price constraint and quantity constraint signals of the policy-holder market. In view of the conclusion that the constraint mechanism of the policy-holder market is non-effective, the supervising ideas should be actively changed. It is necessary to speed up the market constraint ability of the policy holders, improve the insurance information disclosure system, encourage the establishment of professional rating agencies for insurance companies, push forward continuously the process of insurance marketalization, and strengthen the internal governance structure of the insurance companies.

Financing Mechanism for Social Long-Term Care Insurance: A Theoretical Analysis Framework

SUN Jie, JIANG Yue-zhu

2018, 0(01):  243. 

Asbtract ( 106 )  

References | Related Articles | Metrics

The financing mechanism is an important component of social long-term care insurance, its stability and sustainability have a vital significance in keeping the healthy and efficient operation of social long-term care insurance. In order to carry out an in-depth study on the financing mechanism of social long-term care insurance, this article makes an analysis of each of the links and key points involved in the financing in accordance with the whole process of the social long-term care insurance financing and on the basis of summarizing the existing literature regarding the definition and connotation of the financing mechanism of social long-term care insurance. On such basis, it establishes the financing mechanism element framework of social long-term care insurance, by which it then explores the practices and experiences of the typical countries with social long-term care insurance and the advanced areas of China. Finally, in view of the common points and reform tendency of the construction of foreign countries’ social long-term care insurance financing mechanism, this paper puts forward some policy suggestions for the construction of China’s social long-term care insurance financing mechanism.

Perquisite Consumption and Risk-Taking of Senior Managers in State-Owned Enterprises：Efficiency Promotion or Agency Conflicts?

ZHANG Hong-hui1,2, ZHANG Lin-yi2

2018, 0(01):  244. 

Asbtract ( 139 )  

References | Related Articles | Metrics

From the perspective of efficiency, the perquisite consumption of the senior managers is regarded as a kind of implicit incentive mechanism, which can help to improve the working efficiency of the senior managers. While from the perspective of agency, it is regarded as the manifestation of the agency conflict between shareholders and the senior managers, which would worsen the corporate performance. From the risk-taking perspective and using the data of the listed companies, the study of this paper reveals that the perquisite consumption of senior managers of the state-owned enterprises reflects the agency conflicts, and that the perquisite consumption cannot enhance the corporate risk-taking capability. However, the anti-corruption policy of the central Party and government can play a positive moderating role between perquisite consumption and risk-taking, which can improve the risk-taking level.

Fiscal Transparency, Credit Rating and Local Government Bond Financing Cost

ZHOU Yong-mei

2018, 0(01):  245. 

Asbtract ( 140 )  

References | Related Articles | Metrics

In recent years, the scale of the issuance of local government bonds in China has been constantly expanding, and the impact of financing costs on the financial affairs of local governments is gradually emerging. Taking the local government bonds issued during the period of 2015-2016 as the full samples, this paper conducts an empirical test on the quality of government information disclosure (fiscal transparency), credit rating and the financing costs of local government bonds. The results show that the improvement of fiscal transparency can significantly reduce the financing cost of local government bonds, in which the government credit rating plays a partial meditating role. This indicates that the quality of government information disclosure and credit rating results will affect investors’judgment on the credit risk of government bonds to a certain extent, and in turn will affect the financing cost of local government bonds.

Ownership Differences, Firms Dynamic Substitution and Extensive Resource Misallocation

JIN Lai-qun1, MO Chang-wei2

2018, 0(01):  246. 

Asbtract ( 123 )  

References | Related Articles | Metrics

Although the policy of“invigorating large enterprises while relaxing control over small ones and strictly control the entrance”during the process of the reform of state-owned enterprises has improved the productivity of the state-owned sector, however, under the system of dual ownership, there exists distortion of larger degree in the process of enterprise dynamic replacement and its market selection effect, learning effect, and competition effect in China’s whole economy. By using the micro data of China’s manufacturing industry, this paper conducts an empirical analysis. The results show that: (1) the ownership discrimination has reduced the market entry rate of private enterprises and increased its exit rate, thus distorted the process of enterprise dynamic substitution; (2) the private firms with higher TFP have been eliminated by the state-owned firms with lower TFP, i.e., a large number of“zombie”state-owned firms under the dual ownership structure has destroyed the market selection effect of enterprise dynamic substitution; (3) the newly entered private firms have achieved rapid growth of TFP through learning effect, while the newly entered state-owned firms have clear backward effect; (4) the competition effect brought forward by enterprise replacement is only effective in the private firms, not in the state-owned ones.

Discovery Efficiency and Dynamic Changes of Prices in China’s Iron Ore Futures Market

XU Chang-sheng, RAO Shan-shan

2018, 0(01):  247. 

Asbtract ( 145 )  

References | Related Articles | Metrics

By making use of the data from October 18, 2013, when China’s iron ore futures were listed, to December 23, 2016, this article studies the relationship between the futures prices and the spot prices in China’s iron ore markets and the dynamic changes of the price discovery efficiency in the iron ore futures market by employing the vector error correction model and the state-space model. The theoretical analysis shows that there is a long-term co-integration relationship between the future prices and spot prices in the iron ore markets, on which a state-space model in the form of error correction can be established. The empirical results show that, compared with the spot market, the futures market of iron ore reacts more promptly to new information, which holds a leading position in the price discovery function. Moreover, in the long term, the iron ore price adjustment mechanism mainly displays a tendency of adjustment from the spot price into futures price, and the iron ore futures market is playing a more and more important role in the process of price discovery. For these reasons, it is required to further develop and improve China’s iron ore futures market, so as to enhance its pricing efficiency.

Urban Population Migration and Housing Price Fluctuation：An Empirical Research Based on the Census Data and Baidu Migration Data

XU Teng, YAO Yang

2018, 0(01):  248. 

Asbtract ( 169 )  

References | Related Articles | Metrics

Based on the census data and the Baidu migration data, this paper studies the impact and causes of inter-city population mobility. The analysis of the census data shows that there is a significant correlation between the rising rate of urban housing price and the growth rate of urban population in China. Apart from the registered population, the floating population can also have a rather significant impact. When the floating population increases by 1%, the housing price will increase by 0.36%. While the Baidu migration data shows that the negative feedback of the housing price on population immigration is not significant. How do people choose to move into a city depends mainly on the wage differences between the city and the city originally lived and the distance between the two. No evidence is found that higher housing prices would curb population immigration. Therefore, the cities with higher levels of wage and housing prices will still have a large number of external population, and the housing prices will be further pushed up. To solve the problem of rapid growth in housing prices in the first-tier cities, the key is to enhance the competitiveness of the second-tier and third-tier cities.

On Xi Jinping’s View of Commitments: Fundamentals, Connotation and Characteristics

LI Qun-shan

2018, 0(01):  249. 

Asbtract ( 118 )  

References | Related Articles | Metrics

There is a logic clue inside the report of the 19th National Party Congress, i.e., original aspiration, mission and commitments. “Facing the problems bravely and being ready to take on responsibilities”is one of the important characters of Xi Jinping’s governance of China. “Serving the people and being committed to what should be done” is the core idea of governance of China put forward and carried out by Xi Jinping. Since the Party’s 18th National Congress, Xi Jinping has delivered a series of speeches on such basic issues as why, for whom, what, who and how to make commitments; he has also made a comprehensive and systematic description of the reasons, aims, contents, subjects, essences and conditions of realization of the commitments, fully revealing the high self-conscience of the commitments carried out by the Central Committee of CPC with Xi Jinping as the core. Xi Jinping’s view of commitment is not only deeply rooted in Chinese culture, which is a inheritance and promotion of the sense of responsibilities and commitment sprites of Chinese nation, but also is based on sharp insights and grasp of the characteristics and needs of the contemporary social development, showing a very distinct features of times.