Table of Content

21 January 2021, Volume 0 Issue 03

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An Empirical Study of Financial Consumer Protection Legislation: with 40 Samples of Financial Consumer Protection Normative Documents

QI Meng

2013, 0(03):  589. 

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The subprime mortgage crisis indicates that lack of financial consumer protection mechanism is one of the important reasons leading to the crisis. At present, the international community pays more and more attention to financial consumer protection; the relative legislation and institutional construction are being strengthened. In view of this, China’s relevant departments have conformed to the trend of financial consumer protection, a number of financial consumer protection norms have come into being. However, viewing from the four dimensions of the scope of financial consumer protection, protection agency, protection procedure and the effectiveness to inspect China’s current financial consumer protection specifications, it can be found that at present there exist a number of prominent problems in the financial consumer protection norms, such as conflicted and confused scope of protection, unclear responsibilities of the protection agencies, vague and not deep-going dispute handling procedures, and fuzzy effectiveness, etc.. As the footstone of financial development, financial consumer protection holds an extremely important position in China’s future financial development. To this end, the improvement of the financial consumer protection legislation should focus on such aspects as legislative philosophy, legislative hierarchy, legislative gaps and omissions, legislative guidance, etc..

An Analysis of the Causes for the Failure of the Pilot Stamp Duty during Late Qing Dynasty and Its Enlightenment

DAI Li-hua

2013, 0(03):  590. 

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During the 70-90’s of the 19th century, the relatively stable social environment facilitated an unprecedented development of China’s commodity economy. The widely spread western finance and tax theory helped the decision-makers of Qing government understand that stamp duty was an efficient item of tax accepted far and wide by Western countries. So that during the process of actively exploring and opening up new sources of revenue, the Qing government favored very much toward the stamp duty which took the commercial certificates as the major levying objects, in 1903 and 1908 it conducted two pilots. However, both of the two pilots failed to extend the stamp duty, which left us a profound lesson that the setup of tax system must refer to the social and political background and the level of economic development.

On the Main Function of China’s Media Industry in the Economic Development and Its Realization

BAO Li-xiang

2013, 0(03):  591. 

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During the process of promoting the development of national economy, the media industry, different from other industries, can not only contribute directly to GDP, but also create influences that may permeate various fields of economy and society through its two-track path of industrial form and carrier form. China’s media industry can play many roles in the economic development, such as institutional evolution, market regulation, services for agriculture, farmers and rural areas, international marketing, and so on. In order to achieve these goals better, China’s media industry has to speed up the transformation of government functions, to accelerate the industrial technical transformation, promote the development of human capital, and increase the pace of integrating with international markets.

On the Class Theory of David Harvey from the Perspective of Space

GAO Hai-yan

2013, 0(03):  592. 

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On the basis of Marx’s theory of capital accumulation, Harvey creates the space-time fix theory, viewing the process of capital accumulation in the contemporary capitalist society from the perspective of space. It gives an analysis of the fact that through space production, space distribution and space consumption, contemporary capitalist countries not only force the working class still staying on the chain of capitalist exploitation but also expand the range of capitalist exploitation to the global. Harvey uses the space struggle between the classes to replace the economical struggle between the classes, demonstrating that the exploitation nature of contemporary capitalist has not changed and that the Marxist class theory is still valid. He also refutes the challenge launched by neo-liberals against Marxist theory of class.

Scientific and Technological Innovation Capacity of Poyang Lake Eco-Economic Zone: Cluster Analysis and Evaluation

CAI Yong-qiang

2013, 0(03):  593. 

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On the basis of literary review, this paper analyzes the real conditions of Poyang Lake Eco-economic Zone and establishes an evaluation index system of its scientific and technological innovation capacity, which consists of five first grade indicators, twelve second grade indicators, and thirty-three third grade indicators. Then the cluster analysis method is adopted to classify the level of scientific and technological innovation capacity of Poyang Lake Eco-economic Zone into Category I, II, and III. Among them, Category I refers to the region with strong scientific and technological innovation capacity, including 10 counties (cities or districts); Category II refers to the region with medium scientific and technological innovation capacity, including ten counties (cities or districts); and Category III is the weak capacity region, including eighteen counties (cities or districts). Finally, through calculation with the method of factor analysis, it obtains the results of the size and order of scientific and technological innovation capacity of the 38 counties (cities or districts) in Poyang Lake Eco-economic Zone.

An Analysis of the Consumption Structure of China’s Rural Residents: Based on the AIDADS Model

TENG Yong-le

2013, 0(03):  594. 

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There are greater differences between the marginal expenditure shares of all kinds of consumer goods used by China’s rural residents. The marginal expenditure share of the consumer goods which meet their basic survival needs, such as food and clothing, is less than 1; while marginal expenditure shares of the other six categories of consumer goods is greater than 1. Judging from the expenditure elasticity, the consumption structure of China’s rural residents is being gradually improved and has fundamentally changed. The ratio of the survival consumption is decreasing and the development consumption has become the major means to raise the welfare of rural residents. Therefore, while further striving to increase the income of rural residents, the subsidy policies like home appliances and cars sold at favorable prices in the countryside should be expanded, so as to promote the upgrading of consumption structure of rural residents. Besides, the expenditure elasticity of such expenditures as transport, communications, education, culture and recreational services shows a change of inversed U type along with the income distribution, which can greatly improve the shortcomings of the traditional demand system that can only fit linear changes, and profoundly enrich the understandings of the consumption structure as well.

An Empirical Study of China’s Rural Social Security Expenditure Equalization: from the Perspective of Public Finance

QIU Xiao-jie

2013, 0(03):  595. 

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Whether the configuration of China’s rural social security resources across the regions is balanced or not depends on the equalization of the rural social security expenditures. By employing the Theil Index method, this paper tries to analyze the equalization of rural social security expenditures, which is taken as the research object. It is found that the unequality within the regions has become the principal contradiction of the inequality of rural social security expenditures. Therefore, from the perspective of public finance, it proposes that the fiscal spending policy should focus on solving the problems of inequality within the regions of the rural social security expenditures, and that financial investment to the rural social security should be increased in the central region, so as to achieve the goal of financial expenditure of rural social security being transferred along with the transfer of farmers as soon as possible.

An Applicability Study of Kuznets Curve in China: Based on the Method of Quantile Regression

CAI Chao

2013, 0(03):  596. 

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By employing the method of parameters and semi-parametric quantile regression, this paper makes an empirical study on the Kuznets curve with the research objects of 80 municipalities and prefecture-level cities of China to reveal the complicated non-linear relationship existing between China’s economic development and income gap. The results of the parametric and quantile regression show that there is a“U-type”curve relationship at the lower- middle quantile site, rejecting the“inverted U”hypothesis; while the results of the semi-parametric quantile regression show that at the lower-middle quantile site, the Kuznets curve displays the characteristics of“U-type”，but at the higher quantile site, it displays the characteristics of a“W-type”，presenting the connection between two“U-type”curves. In addition, this study chooses the two income inequality indicators, i.e.. Theil index and the income share taken by the most affluent 50% of the population, to carry out a robustness test, the results indicate that the outcome of the analysis of these two income gap indicators coincides with the outcome of the analysis which takes Gini coefficient as the income inequality indicators.

A Study of the Relationship between Market Structure and Market Performance of China’s Insurance Industry: Based on an Empirical Test of the SCP Hypotheses

YUAN Cheng

2013, 0(03):  597. 

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According to the SCP hypotheses of industrial economics, there is a causal relationship between China’s insurance market structure and market performance in theory. But the empirical study conducted with China’s economical and insurance data from 1981 to 2011 and the VAR model shows that the relationship between the two is not completely consistent with the SCP hypotheses. The decline of market concentration has little influence on market performance; on the contrary the lower market performance would hinder the optimizing of market structure to a certain extent. This is closely related with the historic background of China’s financially-supported special insurance system, the extensive mode of development and the imperfect insurance supervisory system. It is suggested that while optimizing the insurance market structure, the operating efficiency of the insurance companies should be improved.

On Marxism Custom Proto-Institution of Farm Land: Theory and Its Implications

HONG Ming-yong

2013, 0(03):  598. 

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Farmland custom proto-institution is an important part of Marx and Engels’theory. Marxism farmland custom proto-institution is a scientific theoretical system, consisting such contents as the source of farmland custom proto-institution, land circulation (exchange) custom, land inheritance custom, the diversity, intercommunity and difference of this proto-institution, the influence of farmland custom proto-institution on farmland renting prices and land property right system, etc. The farmland custom proto-institution is not only existing in the rural areas, no matter in the past or at present, but also having greater influence on farmers and their economic activities. Therefore, we should take Marxism custom proto-institution of agricultural land as the guide to enhance the studies of farmland custom proto-institution.

A Study of the Relationship between Web Financial Information and Financial Situation of Listed Companies

BIAN Hai-rong

2013, 0(03):  599. 

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With the development of Internet, the role of financial information on the Web played in the capital markets has become increasingly valuable to people. Through the analysis of the relationship between Web financial information and the financial conditions of listed companies, it is found that emotional values and the indicator of information heat of Web financial information are correlated with the financial situation of listed companies in many aspects, the correlation between solvency and profitability is particularly significant. The emotional value of Web financial information contains information that is absent in the financial indicators of listed companies; this information can be used as an effective complement to the financial indicators to improve the prediction efficiency when predicting whether a listed company will receive Special Treatment (ST). But the effect of the indicator of information heat can almost be ignored.

On the Antecedent Variables of Staff Improvisational Behavior

LI Hai-dong

2013, 0(03):  600. 

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By setting up a multi-level linear model with the factors affecting employee’s improvisation behavior, the study puts forward some corresponding theoretical assumptions. Then it conducts a hypothesis testing with the hierarchical linear model approach on the questionnaire survey of 515 employees and 94 groups. At the individual level, resource availability and transformational leadership has a positive effect on the staff improvisation behavior; while the job autonomy has a positive effect on the staff improvisation behavior but not obvious. On the group level, the sense of psychological security has significant direct cross-level influence on staff improvisation behavior.