Journal of Jiangxi University of Finance and Economics

The Cultural Origin, Generative Mechanism and Practical Value of XI Jinping’s Important Exposition on the Respect for Elders

CAO Kun, HU Yong-xin

2021, 0(3): 3-13.

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In the practice of governing the country, Xi Jinping has delivered a series of important speeches on the issue of respect for elders, and carried out theoretical exploration and practical innovation around the issue of respect for elders, which embodies the thought of Xi Jinping’s important exposition on the respect for elders. Xi Jinping’s important exposition on the respect for elders has inherited the excellent traditional Chinese culture genes, and formed a four-in-one ideological system of honoring, respecting, showing filial piety to and supporting the elderly, which is in line with the Marxist concept of family, the Communist fine family tradition and the behavior model of proletarian revolutionaries. An in-depth study, publicity and practice of Xi Jinping’s important exposition on the respect for elders is of great value to consolidating cultural confidence, inheriting the Party’s fine tradition and work style, promoting socialist core values, and putting the people-centered development thought into practice.

Deposit Insurance System, Bank Capital Regulation and Risk Taking Behavior: Empirical Evidences from China’s Banking Industry

HU Yuan-cheng, WANG Xing-yu

2021, 0(3): 14-28.

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This paper introduces the deposit insurance system into the analytical framework of the impact of bank capital regulation on risk-taking behaviors, and empirically tests the impact of bank capital regulation on risk-taking behaviors and its synergy effect with the help of the data of 475 Chinese commercial banks from 2009 to 2019. The results show that bank capital regulation will reduce bank risk-taking, and the role of reducing bank risk-taking in crisis is greater than that in normal period. When the deposit insurance system is introduced, the interaction between capital regulation and the deposit insurance system will further reduce bank risk-taking behaviors. Bank capital supervision and deposit insurance system not only have a synergistic effect on the overall bank risk-taking behaviors, but also interact to reduce significantly the risk at the bank asset side and the risk at the liability side. After controlling the heterogeneous effect of the observed values at the bank level and at the regional level, the results remain robust. The conclusions of this study has important policy implications for the improvement of bank supervision and giving full play to the synergistic effect of capital supervision and deposit insurance, so as to jointly manage the risk taking behaviors of banks.

Knowledge Distance, Collaborative Capability and Performance of Business Digital Transformation: A Multiple Case Study of SMEs in Zhejiang Province

HU Qing, XU Meng-zhou, CHENG Yang

2021, 0(3): 29-42.

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The integration and penetration of digital technologies into all the industries has driven more and more enterprises to embark on their digital transformation journey. Compared to large enterprises, small and medium enterprises (SMEs) are frequently lacking of resources, such as digital technology, knowledge, etc., hence, the assistance from professional service organizations is often needed to promote their digital transformation. From the perspective of collaborative capability, this paper conducts an exploratory multiple case study on the digital transformation projects in SMEs in Zhejiang Province. The findings show that the larger knowledge gap between SMEs and the professional service organizations would produce a negative impact on the performance of digital transformation, while the effective collaboration between them can relieve the negative impact of knowledge distance on the performance of digital transformation. The conclusions of this study can provide beneficial references for SMEs to improve their performance in the practice of digital transformation through promoting their collaborative capability and reducing the knowledge distance between them and the professional service organizations..

The Influence of Local Government Industrial Policies on the Quality of Enterprises’ Export Products: An Empirical Study Based on Chinese Manufacturing Enterprises

WANG Sheng-bo, YAN Xiao-chang

2021, 0(3): 43-55.

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In the current complex international situation, it is particularly important to give full play to the role of industrial policies in improving the quality of export products of enterprises, so as to promote the construction of a new development pattern with domestic circulation as the major body and the mutual promotion of domestic and international double circulation. Based on the newly constructed database of local government industrial policies, this paper examines the impact and mechanisms of local government industrial policies on the quality of enterprises’ export products, as well as the heterogeneity of the above impacts at the enterprise and regional levels. The findings show that, generally speaking, the industrial policies of local governments can significantly promote the quality of enterprises’ export products, and this result is robust. The results of the test of the above-mentioned impact and mechanism show that increasing R&D density and the degree of industrial agglomeration are two effective channels for the industrial policies of local governments to promote the improvement of the quality of enterprises’ export products. In addition, the promotion effect of the industrial policies of local governments on the improvement of the quality of export products shows the heterogeneity of enterprises and regions.

Research on the Division and Adjustment and Optimization of the Responsibilities of Fiscal Expenditures for Social Assistance in China

CHEN Wen-mei, LI Chun-gen

2021, 0(3): 56-68.

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As an important part of the social security system, social assistance plays a fundamental role in the realization of social fairness and justice. A scientific and reasonable division of the financial expenditure responsibilities is a necessary financial guarantee for the sound operation of the social assistance system. Based on the“Barrow Rule”and the Cobb-Douglas function model derivation, this paper makes use of the regression analysis method to calculate the optimal fiscal expenditure responsibility for social assistance in China. It also studies the adjustment and optimization of the expenditure responsibilities for social assistance from the different perspectives, such as the deviation of expenditure responsibility and the financial burden of social assistance, etc.. The findings show that the level of the expenditure responsibilities for social assistance of the central government continues to tend to be optimal, and the eastern region exceeds more, thus it is possible to moderately reduce the financial expenditure responsibilities for social assistance of the central government in the eastern region, and the reduced part can be transferred to the central and western regions where the financial burden and social assistance tasks are heavier. The social assistance expenditure responsibilities at the provincial finance level are constantly approaching optimization, but none of them have reached the optimal level; the negative deviation of the expenditure responsibilities in central and western regions is relatively larger, it is necessary to appropriately increase the social assistance expenditure responsibilities of the provincial finance. The level of the fiscal expenditure responsibilities for social assistance at the county (district) level has exceeded the optimal level, especially in the central and western regions.

How Education Level Affects Pension Plans: An Empirical Analysis Based on the Data of China Household Finance Survey

LI Rong-bin

2021, 0(3): 69-78.

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With the aggravation of the aging problem, the old-age pension plan is playing an increasingly important role in avoiding the risks of old-age pension and ensuring the old people’s life in their old age. This paper makes an empirical analysis of the impact of education level on pension plan by using the data of China Household Finance Survey in 2015. The findings show that the level of education has a significant positive impact on the pension plan, and it is robust. The relationship between education level and pension planning is moderated by risk preference. Compared with risk neutral, risk aversion can reduce the positive impact of education level on pension planning; the level of education can enhance personal financial literacy and promote the formulation of pension plans. Individuals should strive to receive higher education, enhance their financial knowledge and financial literacy, and actively formulate pension plans. On the other hand, the government should provide high-yield and secure financial products, and provide consulting services for residents to purchase insurance and participate in stocks and bonds investments, so as to establish and improve a multi-pillar pension system, including public pension, corporate annuity, and personal savings pension, etc..

China’s Rural Environmental Pollution Control Efficiency and Its Regional Differences：An Empirical Test Based on the Three-Stage Super-Efficiency SBM-DEA Model

WEN Ting, LUO Liang-qing

2021, 0(3): 79-90.

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Rural environmental protection is an important content of the rural revitalization strategy, and one of the important weak links as well. Based on the panel data of 29 provinces and cities across the country, this paper constructs a three-stage super-efficiency SBM-DEA model to evaluate the efficiency of China’s rural environmental pollution control and compare its regional differences. The findings show that the random error factors and the external environmental conditions will significantly affect the efficiency of rural environmental governance. Excluding the effects of the two, the efficiency of rural environmental pollution governance in China has been effectively improved from 2008 to 2017, from an ineffective state to an effective state, and it keeps a continuous up-rising tendency, but it still needs to be further improved. In addition, through regional comparison, the governance efficiency in the central and western regions is higher than that in the eastern region, and that in the northeast region is the lowest. Of which, Inner Mongolia Autonomous Region has the highest governance efficiency, while Zhejiang Province has the lowest. In economically developed areas, governance efficiency may not be higher. The formation of regional differences stems from the combined effects of different geographical resource endowments, different economic development characteristics and different environmental protection policies in various regions of China.

The Practical Dilemma and Institutional Responses of the Practice of the Poverty-Alleviation Stocks

ZHOU Chun-guang

2021, 0(3): 91-102.

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The poverty-relief stock is the institutional core of the operation of poverty-alleviation by return on assets, which integrates organically the connotation of capitalization with the form of equity. Relying on poverty-alleviation stocks, a number of regions around the country have achieved the dual goal of ensuring the benefit received by the poor households and promoting the orderly progress of the reform of the rural property rights system. However, quite a number of problems are revealed during the practice of poverty-alleviation stock. Based on the combing of judicial adjudication documents containing poverty-alleviation stocks, this paper clarifies the problems occurred during the operation of the poverty-alleviation stocks. Taking the theory of information asymmetry and the theory of public interest as the deconstruction tool, it regards the following considerations as the institutional response, i.e., strengthening the behavior constraints of the legal stakeholders of the poverty-alleviation stocks, optimizing the content of the rights and obligations of the legal stakeholders of the poverty-alleviation stocks, clarifying the entry and exit criteria of the poverty-alleviation stock platform, and perfecting the rights guarantee paths of the beneficiaries of the poverty-alleviation stocks, so as to achieve a connection of the adaptability and integration of the universality between the targeted poverty reduction strategy and the comprehensive poverty reduction strategy with the help of the poverty-reduction stocks.

From Freedom to Self-Confidence: the Humanology Consciousness of “the Governance of China”

TU Ya-feng

2021, 0(3): 103-111.

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After the Fourth Plenary Session of the Nineteenth Central Committee of the Communist Party of China, the “governance of China” has ushered in an important point of opportunity for theorization. Different from Western governance which takes bourgeois liberal humanology as the theoretical foundation, the humanology consciousness of “the governance of China” is manifested in the sinicization of Marxist humanology, and there is a development process from freedom to self-confidence in discourse. Mao Zedong laid the foundation for socialist humanology discourse with the “people’s freedom and happiness” as the theoretical core. Deng Xiaoping Theory, the important thought of “Three Represents”, and the scientific outlook on development have promoted Marxist humanology self-consciousness on the basis of socialist humanology and shaped the self-confident expression of “the governance of China”. General Secretary Xi Jinping has summarized and sublimated the self-confident discourse of “the governance of China”, which takes the people as the core, reflecting the fundamental interests of the people, the requirements of the times and the essence of “good governance”, and creating a new realm of “the governance of China”.

Sartre “the Father of Action”and Camus“the Husband of Literature”: Sontag and Existentialism

CHEN Wen-gang

2021, 0(3): 112-120.

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Existentialism in the 20th century is actually a return to the pre-Socrates tradition that combines philosophy and lifestyle into one. The intertwined problem of politics, technology and economics means adding nihility and absurdity to the sense of homelessness to the bourgeoisie that have left the churches. This is the biggest context of the times for the“new left”as Susan Sontag, and the subject of Existentialism as well. Sontag shares strong similarities with Sartre in her many “words”and“deeds”, so Sartre is her father of action, but the“ideal husband”of her aesthetic sensibility is Camus. Sontag’s ambivalent attitude towards the two shows some of her own characteristics. Moreover, the Existentialism still has its constant value towards the self- condition of human freedom and the sense of duty resulting from it, especially at the present time that is under the new media ecology.

An Analysis of the Creation of Sports Tax Provisions in the “Sports Law”: Based on the Arrangement of Sports Tax Criterions

YE Jin-yu

2021, 0(3): 121-137.

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As an important tool for the development of sports industry, the tax policies frequently appear in the sports fields. Correspondingly, some problems existing in the sports tax, such as“policy-led but operated with few laws”, “competition-led, but other sport industries lying idle”and “duty-free being dominant, while other tools absent”, not only constitute the remarkable mirror image and the pattern of China’s sports tax governance, but also become an important obstacle and threat to the sustainable and rapid development of China’s sports. In view of the unique value of sports tax clauses, the legislative experience of tax clauses in the science, technology, education, culture and health laws, and the formulation rules of foreign sports tax clauses, it is necessary to create a sports tax provision system in the Sports Law composed of the three levels, i.e., the general clauses of sports tax, the preferential clauses of sports tax and the collection and management clauses of sports tax, which should be rooted in the law of sports development and on the basis of the existing China’s sports tax policy practice, so as to bridge the interconnected paths between sports tax policy and law and between the Sports Law and the tax law, achieve the legal diversion of sports tax policies, and propel the rapid and sound development of China’s sports.

Research on the Construction of “Information Service Type” Supervision Model of Internet Finance

XU Lian-tian

2021, 0(3): 138-148.

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The key difficulty in Internet financial supervision is to deal with the risk of market information asymmetry, but the effectiveness of the existing regulatory methods has not been demonstrated, and the “information regulation” supervision mode dominated by information disclosure is also difficult to fundamentally solve the problem. Information is the important content of public services in the Internet era, and the information services of Internet financial regulators are also becoming more prominent. Based on the innovation of the methods of the “service-oriented supervision”, Internet financial regulators should also establish the identity of information service providers, correct market information resource allocation defects through providing information services, and organize and coordinate multilateral entities to solve the problem of information asymmetry. The “information service-type” supervision mode of Internet finance should adhere to the market-oriented allocation of information resources and the notion of supervising and correcting the defects of information allocation. The service contents should be regulating various types of information in the market, the service objects should be all the parties in the market, and the service means should be providing information disclosure and consultation before the event, providing information filtering and maintenance during the event, and providing information picketing and accountability after the event, which is supplemented by multilateral information game mechanism, multiple information incentive mechanism and information subject responsibility mechanism, so as to promote the healthy development of the Internet financial market through comprehensive information governance.

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