BACKGROUND Gastric cancer is a malignant digestive tract tumor that originates from the epithelium of the gastric mucosa and occurs in the gastric antrum,particularly in the lower curvature of the stomach.AIM To evalu...BACKGROUND Gastric cancer is a malignant digestive tract tumor that originates from the epithelium of the gastric mucosa and occurs in the gastric antrum,particularly in the lower curvature of the stomach.AIM To evaluate the impact of a positive web-based psychological intervention on emotions,psychological capital,and quality of survival in gastric cancer patients on chemotherapy.METHODS From January 2020 to October 2023,121 cases of gastric cancer patients on chemotherapy admitted to our hospital were collected and divided into a control group(n=60)and an observation group(n=61)according to the admission order.They were given either conventional nursing care alone and conventional nursing care combined with web-based positive psychological interventions,respectively.The two groups were compared in terms of negative emotions,psychological capital,degree of cancer-caused fatigue,and quality of survival.RESULTS After intervention,the number of patients in the observation group who had negative feelings toward chemotherapy treatment was significantly lower than that of the control group(P<0.05);the Positive Psychological Capital Questionnaire score was considerably higher than that of the control group(P<0.05);the degree of cancer-caused fatigue was significantly lower than that of the control group(P<0.05);and the Quality of Life Scale for Cancer Patients(QLQ-30)score was significantly higher than that of the control group(P<0.05).CONCLUSION Implementing a web-based positive psychological intervention for gastric cancer chemotherapy patients can effectively improve negative emotions,enhance psychological capital,and improve the quality of survival.展开更多
This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study ...This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt financing.This conclusion remains valid after a series of endogeneity and robustness tests.Further analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency problems.This paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity structure.Additionally,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level.展开更多
As part of its efforts to promote a sustainable and high-quality development,China has pledged to reduce water consumption and create a water-efficient society.On the basis of identifying the institutional root causes...As part of its efforts to promote a sustainable and high-quality development,China has pledged to reduce water consumption and create a water-efficient society.On the basis of identifying the institutional root causes of excessive capital allocation and excessive water consumption in China’s water-intensive industrial sectors,this study elaborates how the national water-efficient cities assessment contributes to optimized capital allocation.Our research shows that national water-efficient cities assessment has motivated local governments to compete for water efficiency.To conserve water,local governments regulated the entry and exit of water-intensive enterprises,discouraged excessive investments in water-intensive sectors,and phased out obsolete water-intensive capacities within their jurisdictions.This approach has resulted in mutually beneficial outcomes,including improved allocation of capital,enhanced water efficiency,and reduced emissions.This paper offers policy recommendations for establishing a water-efficient society throughout the 14^(th) Five-Year Plan(2021-2025)period by presenting empirical evidence on the policy effects of resource efficiency evaluation.展开更多
Green development has gradually become the main theme of the current world economic development.Green transformation development and cracking the contradiction between ecology and economy need to build an effective ec...Green development has gradually become the main theme of the current world economic development.Green transformation development and cracking the contradiction between ecology and economy need to build an effective ecological capital operation system and mechanism to support,encourage the effective operation of regional ecological capital,promote the appreciation and preservation of ecological capital,and escort the operation.This paper constructs a four-in-one regional ecological capital operation mechanism system,in which the"accumulation mechanism"is the prerequisite,the"conversion mechanism"is the key link,the"compensation mechanism"is an important supplement,and the"incentive mechanism"is the safeguard measure,which aims to ensure the smooth progress of the construction of beautiful China in the new era and realize the socialist modern power.展开更多
The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academician...The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academicians have taken an interest in examining the capital structure and business model of retailers,owing to their swift and consistent growth.However,the fact that the majority of research originates from the retailers’host country gives rise to debate regarding the applicability of the capital structure of said retailers to countries with distinct cultural environments.Consequently,academics have begun to investigate whether the capital structure of multinational retailers is impacted by the diversity of national cultures.展开更多
The intellectual capital is a main source of competing advantage. Many studies developed measure(s) of intellectual capital of industrial and service firms. Few studies have tried to develop a reliable measure of in...The intellectual capital is a main source of competing advantage. Many studies developed measure(s) of intellectual capital of industrial and service firms. Few studies have tried to develop a reliable measure of intellectual capital in audit firms. This study extends the current models to provide more insight into the role of intellectual capital in audit firms. The aim of this study is to develop a quantitative model to measure audit firms' intellectual capital. The suggested model can be used to explore the relationship between the intellectual capital in audit firms and audit quality. The model combines the main components of intellectual capital (human capital, structural capital, and relational capital). The suggested model provides a tool that may help to better manage the intellectual capital in audit firms. As this is a theoretical study, a number of hypotheses are presented for testing in the future.展开更多
As an important channel for start-ups to obtain R&D funds and external knowledge and information resources,and as one of the key methods for investment institutions to leverage scale and synergy effects to enhance...As an important channel for start-ups to obtain R&D funds and external knowledge and information resources,and as one of the key methods for investment institutions to leverage scale and synergy effects to enhance investment returns,venture capital syndication holds significant research value in the field of venture capital.This paper reviews the literature,summarizing the motivations behind the formation of joint investment networks,the conceptual characteristics of the three core theories of social network theory,and the empirical research on venture capital syndication within the framework of social network theory.It also highlights the existing research results,identifies gaps,and anticipates future research directions.展开更多
In recent years,the"mania for school district houses"has disrupted the housing market and undermined education equity and class mobility,thus becoming a common concern.Most existing research focus on market ...In recent years,the"mania for school district houses"has disrupted the housing market and undermined education equity and class mobility,thus becoming a common concern.Most existing research focus on market motivations for purchasing school district houses while neglecting the connections between school district houses and cultural and social elements in the process of class reproduction.To make up for this deficiency this article introduces the neighborhood-based cultural capital theory to explore the diversified motivations,the processes of motivation formation,and the determining factors in purchasing school district houses.Reviews and analysis of interview materials revealed that while theories based on western experience can explain the basic purchasing motivations and their formation processes,there are distinct and varied purchasing motivations in China,more comprehensive and complex forms of capital exchange,and more dynamic factors that impact purchases of school district houses.Suggestions on solving the"mania for school district houses"are also presented.展开更多
This paper templet is copyright by Global Conference on Business and Social Science organized by Global Academy of Training&Research(GATR)Enterprise.Intellectual capital and knowledge are the most important assets...This paper templet is copyright by Global Conference on Business and Social Science organized by Global Academy of Training&Research(GATR)Enterprise.Intellectual capital and knowledge are the most important assets of most organizations to ensure that determined or intended strategies can be implemented.The resource-based view of the firm considers the firm as a bundle of tangible resources,intangible resources,and organisational capabilities.An effective IC refers to the critical issues of organisational adaptation,survival and competence in the face of discontinuous environmental change.KM is essential for retaining employees’knowledge within a firm by using appropriate technology and tools to capture and store the knowledge residing in the minds of its employees,so it can be easily shared and reused.There is a growing realisation of the importance of the development and understanding of theory for both Intellectual Capital and Knowledge Management in relation to guide the successful development of Knowledge Management Organisations.This study is fundamental because it will provide the whole picture about the different levels of knowledge;individual,group and organizational,which express internal knowledge(formal and informal knowledge)and external knowledge such as customers and suppliers.The aim of this study is addressed some of the gaps in Intellectual Capital literature.It is necessary to investigate the interactions between IC components in Knowledge management organizations,which include human capital(HC),Organizational capital(OC),and Relational capital(RC).This is important in order to discover the extent to which these factors work together to achieve a network’s knowledge management in organization.展开更多
The concept of capital and ownership of capital in market economy and Islamic economy is different. Also the role that capital is expected to play in the economy is different in two economic systems. One of the key el...The concept of capital and ownership of capital in market economy and Islamic economy is different. Also the role that capital is expected to play in the economy is different in two economic systems. One of the key elements in creation of the capital (capital formation) is interest rate. In Islam interest is strictly forbidden. This paper reviews the concept of capital and the process of capital formation both before and after industrial revelation. In that context it also looks at the function of interest rate during the time of Prophet Mohammed and the present time.展开更多
With the rapid economic development, the imbalance of China's balance of payments gets sever gradually, especially in the continuous increase in the net errors and omissions, which even has exceeded the international...With the rapid economic development, the imbalance of China's balance of payments gets sever gradually, especially in the continuous increase in the net errors and omissions, which even has exceeded the international alert line. Such scale of net errors and omissions have also presented the flaws of the custody of capital flows, leading to huge capital escape and hot money influx, which needs our attention.展开更多
This paper classifies total fixed capital into three categories,namely,economic infrastructure capital,social infrastructure capital and non-infrastructure capital,and then offers complete and detailed estimates of th...This paper classifies total fixed capital into three categories,namely,economic infrastructure capital,social infrastructure capital and non-infrastructure capital,and then offers complete and detailed estimates of the national time series data(1981-2012) and the provincial panel data of 31 administrative regions(1997-2012).On this basis,this paper estimates the output elasticities of the three categories of capital and then tests whether or not the production function of China shows constant returns to scale.展开更多
Human Capital Management(HCM)is a management concept that demands theoretical foundations for implementation.It must not be easily equated with human resource management activities.HCM must include initiatives directl...Human Capital Management(HCM)is a management concept that demands theoretical foundations for implementation.It must not be easily equated with human resource management activities.HCM must include initiatives directly focused on the knowledge resources that are at the organization’s disposal.However,using only internal knowledge resources is not enough to raise the level of competitiveness.Organizations must reach outside their environment.It has been adopted that,in instrumental terms,HCM is based on intentionally selected and applied organizational,technical,social,formal,and legal,as well as economic and financial instruments in a manner that enables the organization’s goals to be achieved.At the inter-organizational level,HCM was included in the organization’s business ecosystem as the organization gains new opportunities to use the knowledge and human capital of its stakeholders thanks to its network connections.It is from this perspective that the article proposes the main concepts,goals and practices,methods that HCM can serve.展开更多
Capital structure decision is an important issue of corporate finance.Theories show that,the corporate debt ratio is determined by many factors.This study conducts empirical work on capital structure theories,focusing...Capital structure decision is an important issue of corporate finance.Theories show that,the corporate debt ratio is determined by many factors.This study conducts empirical work on capital structure theories,focusing on the corporate data of Chinese listed companies,by considering the intrinsic characteristics,utilizing the principal factor analysis and the ridge regression method.Our results suggest that a firms debt ratio has a positive relationship with its size,profitability and operating risk and has a negative relationship with its growth and non debt tax shield,while the long term leverage has a positive relationship with its collateral value of assets.展开更多
Based on statistics, this paper reviews China's economic growth and industrial upgrade since the reform and opening up in 1978 and estimates the contribution of industrial restructuring to economic growth. With the y...Based on statistics, this paper reviews China's economic growth and industrial upgrade since the reform and opening up in 1978 and estimates the contribution of industrial restructuring to economic growth. With the years of schooling as the proxy variable of human capital, this paper describes changes in China's labor competence during the industrial restructuring process. Then, this paper estimates China's future human capital demand and shortage based on economic and demographic forecast. Lastly, this paper proposes recommendations for improving human capital in China with skills development and education.展开更多
Intellectual capital (IC) is an important source of value for companies. The competitive firm invests in new productive ideas through scientific and technological researches of the human factor and services. The tra...Intellectual capital (IC) is an important source of value for companies. The competitive firm invests in new productive ideas through scientific and technological researches of the human factor and services. The traditional factors of"old economy" based on physical assets have been replaced or at least reinforced, with the belief that the "new economy" takes its steps mainly through IC. The knowledge workers, at every organizational level, have the knowledge that allows the organization to be competitive and deal with the complexity of the environment by creating intellectual added value. In particular, the proposed analysis consists with an empirical way to show other financial indicators and market-to-book (MTB) value from the perspective of creating value for shareholders based on the dynamics of companies' performance, as value-added intellectual capital (VAICTM) is capable of expressing a direct relationship with the return on equity (ROE). The traditional financial information cannot ensure the high efficiency of a stock market and the need for IC reporting to explain intangible asset contribution in company performance.展开更多
This paper investigates the market timing hypothesis of capital structure using a sample of 1,077 Chinese firms for the period 1992 to 2007. We find that market timing plays a significant role in capital structure dec...This paper investigates the market timing hypothesis of capital structure using a sample of 1,077 Chinese firms for the period 1992 to 2007. We find that market timing plays a significant role in capital structure decisions. However, market timing effects are not persistent and disappear within three years. The results suggest the prominent role played by the government in timing of security issues.展开更多
The paper had illustrated fruitful achievements Baise had gained in these years in terms of capitalization operation and capital increase of national culture,and generally analyzed deficiencies in capitalization of Ba...The paper had illustrated fruitful achievements Baise had gained in these years in terms of capitalization operation and capital increase of national culture,and generally analyzed deficiencies in capitalization of Baise national culture.It emphasized that utilization,integration and development of national cultural resources were not enough in intensity;capitalized degree of national culture was low and national cultural products were simple and low in level.Finally,the new mode was proposed to integrate national cultural resources,activate inner vitality of national cultural capital and renovate capitalization of national culture.展开更多
文摘BACKGROUND Gastric cancer is a malignant digestive tract tumor that originates from the epithelium of the gastric mucosa and occurs in the gastric antrum,particularly in the lower curvature of the stomach.AIM To evaluate the impact of a positive web-based psychological intervention on emotions,psychological capital,and quality of survival in gastric cancer patients on chemotherapy.METHODS From January 2020 to October 2023,121 cases of gastric cancer patients on chemotherapy admitted to our hospital were collected and divided into a control group(n=60)and an observation group(n=61)according to the admission order.They were given either conventional nursing care alone and conventional nursing care combined with web-based positive psychological interventions,respectively.The two groups were compared in terms of negative emotions,psychological capital,degree of cancer-caused fatigue,and quality of survival.RESULTS After intervention,the number of patients in the observation group who had negative feelings toward chemotherapy treatment was significantly lower than that of the control group(P<0.05);the Positive Psychological Capital Questionnaire score was considerably higher than that of the control group(P<0.05);the degree of cancer-caused fatigue was significantly lower than that of the control group(P<0.05);and the Quality of Life Scale for Cancer Patients(QLQ-30)score was significantly higher than that of the control group(P<0.05).CONCLUSION Implementing a web-based positive psychological intervention for gastric cancer chemotherapy patients can effectively improve negative emotions,enhance psychological capital,and improve the quality of survival.
基金supported by the National Natural Science Foundation of China,“State-owned Capital Participation and Financial Behavior of Private Enterprises:A Study from the Perspective of‘Balance’and‘Complementarity’of Multiple Major Shareholders”(Grant No.72202230).
文摘This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt financing.This conclusion remains valid after a series of endogeneity and robustness tests.Further analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency problems.This paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity structure.Additionally,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level.
基金Sponsorship of the Outstanding Youth Innovation Team Development Program for Institutes of Higher Learning in Shandong Province(2021RW008)the Youth Program of the Natural Science Foundation of Shandong Province(ZR2021QG048).
文摘As part of its efforts to promote a sustainable and high-quality development,China has pledged to reduce water consumption and create a water-efficient society.On the basis of identifying the institutional root causes of excessive capital allocation and excessive water consumption in China’s water-intensive industrial sectors,this study elaborates how the national water-efficient cities assessment contributes to optimized capital allocation.Our research shows that national water-efficient cities assessment has motivated local governments to compete for water efficiency.To conserve water,local governments regulated the entry and exit of water-intensive enterprises,discouraged excessive investments in water-intensive sectors,and phased out obsolete water-intensive capacities within their jurisdictions.This approach has resulted in mutually beneficial outcomes,including improved allocation of capital,enhanced water efficiency,and reduced emissions.This paper offers policy recommendations for establishing a water-efficient society throughout the 14^(th) Five-Year Plan(2021-2025)period by presenting empirical evidence on the policy effects of resource efficiency evaluation.
基金Supported by Hunan Provincial Social Science Fund Project(21YBX021)Hunan Provincial Natural Science Foundation Project(2024JJ7234).
文摘Green development has gradually become the main theme of the current world economic development.Green transformation development and cracking the contradiction between ecology and economy need to build an effective ecological capital operation system and mechanism to support,encourage the effective operation of regional ecological capital,promote the appreciation and preservation of ecological capital,and escort the operation.This paper constructs a four-in-one regional ecological capital operation mechanism system,in which the"accumulation mechanism"is the prerequisite,the"conversion mechanism"is the key link,the"compensation mechanism"is an important supplement,and the"incentive mechanism"is the safeguard measure,which aims to ensure the smooth progress of the construction of beautiful China in the new era and realize the socialist modern power.
文摘The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academicians have taken an interest in examining the capital structure and business model of retailers,owing to their swift and consistent growth.However,the fact that the majority of research originates from the retailers’host country gives rise to debate regarding the applicability of the capital structure of said retailers to countries with distinct cultural environments.Consequently,academics have begun to investigate whether the capital structure of multinational retailers is impacted by the diversity of national cultures.
文摘The intellectual capital is a main source of competing advantage. Many studies developed measure(s) of intellectual capital of industrial and service firms. Few studies have tried to develop a reliable measure of intellectual capital in audit firms. This study extends the current models to provide more insight into the role of intellectual capital in audit firms. The aim of this study is to develop a quantitative model to measure audit firms' intellectual capital. The suggested model can be used to explore the relationship between the intellectual capital in audit firms and audit quality. The model combines the main components of intellectual capital (human capital, structural capital, and relational capital). The suggested model provides a tool that may help to better manage the intellectual capital in audit firms. As this is a theoretical study, a number of hypotheses are presented for testing in the future.
基金Exploration and Practice of Training Model Based on the Whole Career Cycle of Enterprise Employees(Grant no.2023520500240155)。
文摘As an important channel for start-ups to obtain R&D funds and external knowledge and information resources,and as one of the key methods for investment institutions to leverage scale and synergy effects to enhance investment returns,venture capital syndication holds significant research value in the field of venture capital.This paper reviews the literature,summarizing the motivations behind the formation of joint investment networks,the conceptual characteristics of the three core theories of social network theory,and the empirical research on venture capital syndication within the framework of social network theory.It also highlights the existing research results,identifies gaps,and anticipates future research directions.
基金a phased result of “The formation of youth housing ownership preference” of the Project Sponsored by the Scientific Research Foundation for the Returned Overseas Chinese Scholars,State Education Ministrythe “International comparison research in solving the housing issue of ‘sandwich class’ in Beijing”(No.17GLC038)of Beijing Social Science Fund for Youth Projects in 2017
文摘In recent years,the"mania for school district houses"has disrupted the housing market and undermined education equity and class mobility,thus becoming a common concern.Most existing research focus on market motivations for purchasing school district houses while neglecting the connections between school district houses and cultural and social elements in the process of class reproduction.To make up for this deficiency this article introduces the neighborhood-based cultural capital theory to explore the diversified motivations,the processes of motivation formation,and the determining factors in purchasing school district houses.Reviews and analysis of interview materials revealed that while theories based on western experience can explain the basic purchasing motivations and their formation processes,there are distinct and varied purchasing motivations in China,more comprehensive and complex forms of capital exchange,and more dynamic factors that impact purchases of school district houses.Suggestions on solving the"mania for school district houses"are also presented.
文摘This paper templet is copyright by Global Conference on Business and Social Science organized by Global Academy of Training&Research(GATR)Enterprise.Intellectual capital and knowledge are the most important assets of most organizations to ensure that determined or intended strategies can be implemented.The resource-based view of the firm considers the firm as a bundle of tangible resources,intangible resources,and organisational capabilities.An effective IC refers to the critical issues of organisational adaptation,survival and competence in the face of discontinuous environmental change.KM is essential for retaining employees’knowledge within a firm by using appropriate technology and tools to capture and store the knowledge residing in the minds of its employees,so it can be easily shared and reused.There is a growing realisation of the importance of the development and understanding of theory for both Intellectual Capital and Knowledge Management in relation to guide the successful development of Knowledge Management Organisations.This study is fundamental because it will provide the whole picture about the different levels of knowledge;individual,group and organizational,which express internal knowledge(formal and informal knowledge)and external knowledge such as customers and suppliers.The aim of this study is addressed some of the gaps in Intellectual Capital literature.It is necessary to investigate the interactions between IC components in Knowledge management organizations,which include human capital(HC),Organizational capital(OC),and Relational capital(RC).This is important in order to discover the extent to which these factors work together to achieve a network’s knowledge management in organization.
文摘The concept of capital and ownership of capital in market economy and Islamic economy is different. Also the role that capital is expected to play in the economy is different in two economic systems. One of the key elements in creation of the capital (capital formation) is interest rate. In Islam interest is strictly forbidden. This paper reviews the concept of capital and the process of capital formation both before and after industrial revelation. In that context it also looks at the function of interest rate during the time of Prophet Mohammed and the present time.
文摘With the rapid economic development, the imbalance of China's balance of payments gets sever gradually, especially in the continuous increase in the net errors and omissions, which even has exceeded the international alert line. Such scale of net errors and omissions have also presented the flaws of the custody of capital flows, leading to huge capital escape and hot money influx, which needs our attention.
基金the financial supports of the Natural Science Foundation for Distinguished Young Scholars of Zhejiang Province(Grant No.LR14G03001)the National Natural Science Foundation of China(Grant No.71673237)
文摘This paper classifies total fixed capital into three categories,namely,economic infrastructure capital,social infrastructure capital and non-infrastructure capital,and then offers complete and detailed estimates of the national time series data(1981-2012) and the provincial panel data of 31 administrative regions(1997-2012).On this basis,this paper estimates the output elasticities of the three categories of capital and then tests whether or not the production function of China shows constant returns to scale.
文摘Human Capital Management(HCM)is a management concept that demands theoretical foundations for implementation.It must not be easily equated with human resource management activities.HCM must include initiatives directly focused on the knowledge resources that are at the organization’s disposal.However,using only internal knowledge resources is not enough to raise the level of competitiveness.Organizations must reach outside their environment.It has been adopted that,in instrumental terms,HCM is based on intentionally selected and applied organizational,technical,social,formal,and legal,as well as economic and financial instruments in a manner that enables the organization’s goals to be achieved.At the inter-organizational level,HCM was included in the organization’s business ecosystem as the organization gains new opportunities to use the knowledge and human capital of its stakeholders thanks to its network connections.It is from this perspective that the article proposes the main concepts,goals and practices,methods that HCM can serve.
文摘Capital structure decision is an important issue of corporate finance.Theories show that,the corporate debt ratio is determined by many factors.This study conducts empirical work on capital structure theories,focusing on the corporate data of Chinese listed companies,by considering the intrinsic characteristics,utilizing the principal factor analysis and the ridge regression method.Our results suggest that a firms debt ratio has a positive relationship with its size,profitability and operating risk and has a negative relationship with its growth and non debt tax shield,while the long term leverage has a positive relationship with its collateral value of assets.
文摘Based on statistics, this paper reviews China's economic growth and industrial upgrade since the reform and opening up in 1978 and estimates the contribution of industrial restructuring to economic growth. With the years of schooling as the proxy variable of human capital, this paper describes changes in China's labor competence during the industrial restructuring process. Then, this paper estimates China's future human capital demand and shortage based on economic and demographic forecast. Lastly, this paper proposes recommendations for improving human capital in China with skills development and education.
文摘Intellectual capital (IC) is an important source of value for companies. The competitive firm invests in new productive ideas through scientific and technological researches of the human factor and services. The traditional factors of"old economy" based on physical assets have been replaced or at least reinforced, with the belief that the "new economy" takes its steps mainly through IC. The knowledge workers, at every organizational level, have the knowledge that allows the organization to be competitive and deal with the complexity of the environment by creating intellectual added value. In particular, the proposed analysis consists with an empirical way to show other financial indicators and market-to-book (MTB) value from the perspective of creating value for shareholders based on the dynamics of companies' performance, as value-added intellectual capital (VAICTM) is capable of expressing a direct relationship with the return on equity (ROE). The traditional financial information cannot ensure the high efficiency of a stock market and the need for IC reporting to explain intangible asset contribution in company performance.
文摘This paper investigates the market timing hypothesis of capital structure using a sample of 1,077 Chinese firms for the period 1992 to 2007. We find that market timing plays a significant role in capital structure decisions. However, market timing effects are not persistent and disappear within three years. The results suggest the prominent role played by the government in timing of security issues.
基金Supported by Scientific Research Initiation Project of Baise University in2009(2009KB12)Periodic Achievement of Scientific Research Project of Department of Education of Guangxi Province in2010 (201010LX507)~~
文摘The paper had illustrated fruitful achievements Baise had gained in these years in terms of capitalization operation and capital increase of national culture,and generally analyzed deficiencies in capitalization of Baise national culture.It emphasized that utilization,integration and development of national cultural resources were not enough in intensity;capitalized degree of national culture was low and national cultural products were simple and low in level.Finally,the new mode was proposed to integrate national cultural resources,activate inner vitality of national cultural capital and renovate capitalization of national culture.