Table of Content

21 January 2021, Volume 0 Issue 05

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Theory and Value of Researches of Media Economy: A Review of Media Economy

LI Hua, ZHAO Jun-qi

2017, 0(05):  264. 

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Ten Years Practice of China’s Emergency Handling Law: Achievements, Problems and Future Prospects

WEN Zhi-qiang1, HAO Ya-li2

2017, 0(05):  266. 

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Since the promulgation of the Emergency Handling Law in 2007, the cases involving the emergency handling occurred during this period have revealed the following problems: the lacking of situational emergency handling Law leading to the magnifying of the power of emergency response plan, the contradiction between the principle of “on-the-site responsibility” of emergency rule of law and the “misplaced field position” of emergency reality, the emergency rule of law culture of the citizens having difficulty in breeding the emergency legal system, and so on. This paper has sorted out the reasons for the frequent occurrence of emergencies with increased emergency plights. From the dimension of legal construction, it puts forward the following proposals: to distinguish the relationship between the emergency plan and the legal construction, to clarify the property rights of public resources, to rebuild the function and power system of the government emergency organizations, to strengthen the prevention function of the system of accountability, to promote the construction of community emergency culture, and so on.

Reflection on the Shared Tax Standards and the Systematism Construction

ZHANG Cheng-song

2017, 0(05):  267. 

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With the deepening of the reform of tax distribution system, a number of taxes have changed from local taxes into shared taxes, which are more prominent in varieties of taxes and tax involved income. However, China is lacking of explicit stipulations concerning the standards of the shared taxes, hence the operation of the shared taxes has a stronger policy and arbitrary nature, which violates the principle of law-based taxation. In order to construct a fiscal and taxation system suitable to the financial rights and expenditure liabilities, it is especially necessary to construct a systematic mechanism of shared tax standard. On the one hand, the shared taxes must stick to such basic standards as standards stipulated by law, clear income attribution, practice of check-and-levy economy and so on, so as to clarify the setting and adjustment permissions for the shared tax standards. On the other hand, based on the existing mode of tax system which takes the shared tax as the principal taxes and defined tax categories as the subsidiary taxes, we can still take the sharing in proportion as the main mode in a short term. However, the future shared taxes should have a standard system which is formed with the additional taxes (tax rate sharing) as the principal mode, and supplemented by the tax base sharing and proportional sharing. Only in this way, can we realize the interaction between the combined application of the shared taxes standards and the tax system, further promote the practice of the tax distribution system, deepen the standardized financial relationship between the central government and the local governments, so as to achieve the rule of the regulations of the shared taxes.

Investigation and Reflection on the Arrangement and Research of Legal Literatures in the Revolutionary Base Areas in Hunan, Hubei and Jiangxi

CHEN Shi-fa, BAO Ruo-ran

2017, 0(05):  268. 

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So far there is no systematic and special arrangement for the legal literatures of the revolutionary base areas in Hunan, Hubei and Jiangxi provinces. Most of them are scattered among the document literatures related to the revolutionary base areas in the three provinces. Therefore, it is necessary to strengthen the salvage excavation and systematical publishing of them. The researches carried out by the academic circles about the legal system construction in the revolutionary base areas of Hunan, Hubei and Jiangxi have been mainly focused on two aspects: one is the introduction or brief comments on the construction of the legal system among the works of the general history or the specific history; the other is the researches focused on such department laws as the economic law, the land law and the administration Law. It is necessary to broaden the research field and research perspective, strengthening the macro-examination on the legal construction of the Hunan-Hubei-Jiangxi base areas from the height of the history of revolutionary law of CPC; to deepen the theoretical research of law and strengthen the research on the legal publicity and education of the revolutionary base areas in Hunan, Hubei and Jiangxi; to learn from the subject methods in such disciplines as law, historical science, political science, sociology and so on, in order to innovate the research on the legal system construction of Hunan, Hubei and Jiangxi revolutionary base area.

On the Ethical Writing in Lao She’s Prose

HU Fei-hai

2017, 0(05):  269. 

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As a modern civilian writer with the identity memory of bannermen descendants of Manchu nationality, Lao She always embodies strong ethical consciousness in his prose. This ethical consciousness is mainly reflected in the following three specific aspects: the first is to stick to the principle of “national interest comes above everything else” in the political atmosphere of the Anti-Japanese War; the second is never to forget to write vividly the detailed account of the daily secular human relations based on his own identity and memory as a civilian; the third is, influenced by the modern thoughts, to pursuit the essence and freedom of individual life in his lifetime. Lao She’s writing of multiple ethical shapes can not only manifest his great and profound ethical feelings, but also reveal to the readers his complex connotations and characteristics of his ethical cognition in different historical contexts.

Life Happiness, Political Cognition and Farmers’ Electoral Participation Behavior

LIU Zhen-bin, LIN Li-mei, ZHENG Yi-fang

2017, 0(05):  270. 

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Grassroots democratic election is an important way of farmers’ political participation, which is significant to the realization of rural political democratization. Based on a Logistic regression model, this paper makes use of CGSS data of 2013 to explore the influencing mechanism of life happiness and political cognition on farmers’ electoral participation behavior. The results of the empirical test show that the life happiness can improve the enthusiasm of the farmers’ electoral participation. Political cognition can play a significant role in promoting the farmers’ electoral participation behavior, and the degree of impact is larger. The individual characteristics, family income and social relationships of the farmers can also influence their electoral participation behavior. Therefore, in order to enhance the farmers’ enthusiasm in electoral participation, it is of great practical significance to improve the level of farmers’ material and cultural life, to cultivate farmers’ awareness of political participation, and to enhance the farmers’ political participation ability.

Reform of Rural Governance: A Balance between Effectiveness and Legality

WU Qiu-ju, Lin Hui-huang

2017, 0(05):  271. 

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In the 1980s and 1990s, rural organizations created a lot of working methods to ensure the effective completion of all kinds of tasks, which undermined the legitimacy of grassroots authorities to a great extent. After entering the 21st century, the government carried out the democratization and legalization constructions in order to enhance the legitimacy of the grassroots authorities, but to a large extent it weakened the effectiveness of rural governance. Through establishing the dialectics notion of rural governance reform, reshaping the autonomy of rural governance and delimiting its legal and policy border, reshaping the dynamic mechanism of rural governance and formulating a strict regulatory system, the future rural governance reform is likely to achieve a balance between effectiveness and legitimacy.

A Study of the Residents’ Consumption Effect of China’s Rural Social Security

LIU Dan1, LU Hong-you2

2017, 0(05):  272. 

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This paper evaluates empirically the impact of the rural social security system on the rural residents’consumption with the Panel Threshold Regression model based on the data of 30 provinces (cities) in the mainland of China from 2004 to 2015. The results show that the rural social security system has triple threshold effect on the consumption of rural residents: when the rural per capita transfer income is below 388 yuan, the elasticity coefficient of rural residents’ consumption is 0.218; when the rural per capita transfer income is between 388 yuan to 741 yuan, the elasticity coefficient increases to 0.232; when the rural per capita transfer income is between741 yuan to 2080 yuan, the elasticity coefficient increases to 0.248; and when the rural per capita transfer income is beyond 2080 yuan, the elasticity coefficient decreases to 0.236. In terms of regions, the rural social security in the eastern, central and western regions also has a nonlinear positive impact on the consumption of rural residents, of which the consumption promotion effect in the western region is the strongest, followed by the eastern region, and the central region is the lowest. Therefore, it is recommended to further increase the transfer income of the rural residents, strengthen the support of rural social security in the western region, and enhance the rural human capital, so as to boost rural residents’ consumption and promote the economic growth in rural areas.

Loan Program for Higher Education: A New Thought of Pension Insurance Fund Investment

LIU Chang-ping1, HUA Ya-zhou2

2017, 0(05):  273. 

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Due to the limitations of the traditional investment channels, China’s basic endowment insurance fund is confronted with the tremendous pressure of preserving and increasing the value. The study reveals that, besides the student loan program dominated by the government, the loan program for higher education provided by the pension fund can not only match the investment principles of safety, long-term and profitability, but also bring about the double improvements of the fair educational opportunities for workers and the efficiency of consumption resources allocation during the life cycle. Through measurements and comparisons of the wage income and the level of the individual old-age insurance accounts between the workers with high-school degree or junior-college degree or bachelor degree or master degree, it is found that to provide the workers with high-school degree with higher education student loan from the pension fund can significantly raise the level of their wages and their individual old-age insurance account, and the higher education degrees will generate higher wage and pension income. Based on the above analysis, it is suggested to develop pension fund to be a supplement to the program of government higher education student loan, to let loose the identity restrictions for the applicants, and to increase the loan amount properly.

A Study of the Perceptions and Attitudes of Urban Residents towards the Application for Jinggang Mountains Entering World Heritage List

HU Hai-sheng1, TIAN Feng-jun1, WU Shu-feng1,

2017, 0(05):  274. 

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Application for entering World Heritage List is an important event in the development of local tourism, certainly, the perceptions and attitudes of local residents can exert a significant influence on the successfulness of the application. Based on the relative data obtained through field research and questionnaire survey, this paper studies the perceptions and attitudes of the urban residents in the area of Jinggang Mountains towards the application from the three levels, i.e., value judgment, general impact assessment and personal value impact assessment. The findings show that: (1) the positive perceptions and attitudes of the residents towards the application of Jinggang Mountains are generally exceeding the negative ones, the majority of them believe that the application can promote the development of local economy and preserving the indigenous culture; (2) such individual factors as gender, age, educational level, occupation and monthly income will exert influence of different degrees on the attitudes and perceptions of the interviewees, of which age has a most distinct impact on the perceptions and attitudes of the residents; (3) the perceptions and recognitions of the local residents towards the heritage value of Jinggang Mountains remain at a high level, but there are some differences compared with the ideas of the experts; (4) the residents have expressed some concerns about the environmental problems and the inflation problems that might be brought with the application for Jinggang Mountains entering the World Heritage List.

A Study of the Heterogeneity of Institutional Investors, Accruable Earnings Management and Real Earnings Management

YU Nu-tao1, LU Kai-sen1, XIE Huo-bao2

2017, 0(05):  275. 

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Taking A-share listed companies in Shanghai and Shenzhen stock markets from 2009 to 2013 as samples, this paper tries to examine the role of institutional investors in the governance of earnings management for listed companies. On such a basis, it divides institutional investors into trading investors and controlling investors according to the concept of trading investment subject and controlling investment subject proposed in the new Accounting Standards, so as further to investigate the impact of different types of institutional investors on the earnings management of the listed companies. The findings show that: firstly, the holdings of institutional investors can help to restrain the degree of earnings management of listed companies, which means that institutional investors can play an active role in corporate governance; secondly, the two types of institutional investors in listed companies have different influences on the earnings management of listed companies: the controlling institutional investors can play a positive role in corporate governance, which is manifested as a supervision effect, while the influence of trading institutional investors is not obvious or they will promote the listed companies to increase the degree of earnings management, which is manifested as a coordinated interaction. The results indicate that the holdings of institutional investors can play a positive role in corporate governance and help to understand the important role of institutional investors in the capital market. However, it is necessary to consider the different effects caused by the heterogeneity of the institutional investors, so as to further regulate the governance of the capital market.

Reflections on the System Optimization of Fund Sources and Operating Risks of Micro-Loan Companies in China

ZHANG Hao

2017, 0(05):  276. 

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Micro-loan companies are an important part of private finance. As a subject of financial innovation, the micro-loan companies can effectively restrain illegal private loans and supplement to the formal finance, however, they are confronted with the problems of fund source and operation risks. At present, the development of China’s micro-credit companies is in a state of regional imbalance and institutional supply shortage. Over-reliance on the funds infusing from financial institutions of the banking sector would result in such problems as single financing channel, financing difficulties and imperfect mechanism for prevention and control of operational risks, which have become the constraints in their development. It is necessary to focus on the institutional optimization“to improve the financing channels from the financial institutions of the banking sector, while exploring new ways of financing; to improve the methods of loan guarantee and establish a diversified risk prevention and control mechanism”, so as to form a joint force in order to promote the sustainable development of small loan companies.

Innovation and Development of Financial Basic Theory: Object, Method, Value Judgment of the Financial System Research Paradigm

ZHANG Kun, BAI Qin-xian

2017, 0(05):  277. 

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In the early 1980s, the research paradigm of “financial system” was gradually formed, which takes financial development strategy, organization form, frame structure, construction mode, business division, supervision and management, operation mechanism, operation environment and overall effect as the research objects, the comparison method as the research method, and servicing the reforming and opening up, insisting on the subjectivity of Chinese thoughts and grasping China’s international speaking right as the value judgment. The establishment of the “Financial System” research paradigm not only provides theoretical reference for China’s economic and financial system reform, but also contributes to the birth of a sub-discipline of finance, i.e., the “comparative banking”. This is an innovative exploration and attempt of financial theory with Chinese characteristics at the beginning of reform and opening up.

A Study of the Impact of Industrial Input-Output Ratio on Energy Total Factor Productivity: Taking Pearl River Delta as an Example

FU Yuan-hai1, CHEN Li-shan1, Yin Shuo2

2017, 0(05):  278. 

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To change the way of industrial development is to reduce consumption, improve resource use efficiency, and improve input-output ratio. However, due to the impact of such factors as the economic structure, the price control and the energy “rebound effect” etc., the variation trend of industrial input-output rate may be inconsistent with that of energy efficiency. On the basis of the measurement of total factor productivity of industrial energy at the Pearl River Delta during the period of 2000 to 2014 with the method of super-efficiency DEA, this paper adopts the static panel and dynamic panel to carry out an empirical test. The results show that the input-output ratio has negative effects on the total factor productivity. It is necessary to change the mode of industrial development from investment-driven to innovation-driven, guide the innovation and diffusion of energy-saving technology, and encourage foreign capital to transfer and diffuse more intermediate products containing advanced technologies and core technologies.

A Study of Economic Growth Quality and Energy Efficiency: Taking Pearl River Delta as an Example

YE Xiang-song1, LIU Jing1, WANG Jiang-bo2

2017, 0(05):  279. 

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The generalized economic growth quality itself contains energy efficiency, hence the changes of the quality of economic growth are consistent with the changes of energy efficiency. However, the economic growth quality of different dimensions has different influence on energy efficiency. Based on the estimate of the comprehensive index of economic growth quality and the total-factor energy efficiency at Pearl River Delta from 2000 to 2013, this paper applies the Generalized Method of Moments to conduct an empirical test of the influence of economic growth quality on energy efficiency. The findings reveal that the economic growth quality is generally consistent with energy efficiency, and the structural changes in economy can improve the energy efficiency, while the improvement of economic growth efficiency would restrain the improvement of energy efficiency.