Human Capital Investment and an Analysis of Its Progressive Profit

Skilled labor force cultivated through putting in funds and time in their education are undoubtedly essential in the operation of sophisticated machines in production, but it is so also in the creation of new ideas and methods in production and other economic activities, and ultimately in the promotion of the progressive increase of material capital. Thus strengthening the investment of human capital and enriching the stock of human capital is of primary importance, especially for China, in the 21st century.

Cultural Industry Welcomes Capital Investment

The second international cultural industry investment symposium was held in Beijing recently.As a gala event of in the China cultural industry investment area,the symposium features exhibitions,investment discussions,project promotion,a summit,and forums and senior meetings,providing a lot

Review of Capital Investment in 2010

Generally speaking, the textile industrial capital in 2010 especially highlighted eight focuses, which are domestic consumption market, the export, raw material, labor cost, currency policy, 12th Five-Year-Plan Guidelines, terminal market potentials, and upgrading & adjustment. Professional analysis from domestic well-known Securities Companies shared with us their opinions and suggestions.

Accounting information quality,governance efficiency and capital investment choice

This paper examines the relationship between accounting information quality and capital investment choice from the perspective of accounting information's governance function.Measuring capital investment choice as the correlation of growth of operating income between company and industry,this paper investigates whether and to what extent companies focus on their core business.The results show that the higher the quality of publicly listed firms' accounting information,the stronger that correlation,particularly when the corporate governance of the listed company is poor.The findings imply that accounting information quality can thus optimize the capital investment choice,which complements and strengthens the functioning of corporate governance.Hence,regulators should pay more attention to the market's power to supervise the behavior of listed firms,improve the governance functions of accounting information and increase the efficiency of capital allocation.

Monetary policy,government control and capital investment:Evidence from China

This study examines how the relationships between local governments and local enterprises moderate the effect of targeted monetary policies through different action-propagating mechanisms. First, we investigate the impact of monetary policies on enterprise investment in areas with different institutional environments. Second, we investigate the impact of monetary policies on stateowned enterprises(SOEs) with different property rights structures. Third, we examine how political connections can influence the action-propagating mechanism of monetary policies. We conclude that in China monetary policies have different effects on SOEs and on private enterprises with or without political connections. Specifically, local government interventions can significantly weaken and distort the effects of monetary policies, such that the intended reduction in investment is noticeably alleviated for SOEs and private enterprises with close links to local governments.

Investment Problems of China Rural Human Capital

The rural human capital refers to the condensation of the physical body, knowledge, skills, and all the abilities that can improve the capacity of the rural labor productivity. The ability is a form of human capital stock and it plays an important role in China＇s development of rural economy and society, but at present the situation of investment in human capital in rural areas is not optimistic. A lot of problems need to be solved such as the inadequate total investment and the irrational structure, as to these issues, strategies and recommendations were proposed in order to strengthen the human capital investment.

Current Situations and Problems of Investment in Agricultural Capital Construction from the Perspective of Investment of Different Ministries and Commissions and Recommendations

Investment in agricultural capital construction is an important factor in improving China's agricultural productivity and international competitiveness. In recent years,the attention to the investment in agricultural capital construction has been lifted to a strategic height. However,there is still little research on the investment in agricultural capital construction. From the perspective of investment of different ministries and commissions,this paper systematically analyzed current situations,problems,and came up with recommendations for the investment in the agricultural capital construction. According to the results,( i) from 1983 to the present,China's investment in agricultural capital construction experienced three stages. Especially after 2010,the scale of investment in agricultural capital construction was huge,and it showed a rapid increasing trend;( ii) the investment in agricultural capital construction is characterized by " multi-sector investment,different departments having different investment priorities and investment scale in different periods";( iii) some investment projects are overlapping between departments,local areas are weak in providing support funds,project construction standard is single,and there are problems of attaching importance to the application,belittling the management,stressing the construction,belittling the maintenance,and serious brain drain;( iv) different departments have accumulated certain experience in long-term exploration. For example,they pay more attention to the refinement and differentiation of projects,focus on the development of targeted poverty alleviation,pay more attention to the " quality" of investment,and pay more attention to the transformation of agricultural production methods. Based on current situations and problems,it came up with recommendations including promoting the integration of funds for investment and project integration,strengthening the personnel cultivation,ensuring simultaneous construction and management of projects,stressing the maintenance after project construction,exploring new modes for project design,management,investment,and financing,and enhancing the support for special investment projects.

Examination and Interpretation of the Quantitative Validity in China’s Corporate-based Urban Network Analysis

As a matter of expediency, most existing corporate-based urban networks can only be quantitatively measured by either counting the number of linkages or calculating the product of estimated service values. However, the impreciseness arising due to the limits of quantitative analysis may prove fatal to studies about non-market economies like China. Employing the capital investment dataset as an example, we build a capital-weighted intervention network as well as an unweighted control network to carry out an examination of the quantitative validity in China’s corporate-based urban network analysis. Both the overall spatial pattern and top city-dyads within the capital-weighted network witness Beijing, as the most dominant city, overshadow the performance of the others, and the unweighted network shows multilateral interactions between China’s top cities including Beijing, Shanghai, Shenzhen, and Guangzhou. To further interpret the noticeable differences, we divide the overall network into two subnetworks, inferred by focusing on state-owned enterprises(SOEs) and private enterprises. The results show that the public and private sectors have separately created vastly different subnetworks in China and that SOEs play a much more significant role in terms of capital. Besides fresh insights into China’s urban network, this study provides a cautionary tale reminding researchers of the essentiality and complexity when making a quantitative distinction between different linkages.

Difficulties and Countermeasures of Rural Human Settlement Environment Governance in Tianjin

The course of rural human settlement environment governance in Tianjin could be roughly divided into four stages:germination,initiation,promotion and deepening.After the development for nearly 20 years,rural human settlement environment governance of Tianjin is faced with many difficulties,such as imperfect village construction planning,poor use effect of sewage facilities,low participation of farmers,and insufficient financial investment.Therefore,some countermeasures and suggestions are put forward,such as scientific planning and overall consideration,innovating financing mechanism,encouraging diversified investment of funds,and strengthening the publicity of rural human settlement environment governance.

The state capital investing and operating company pilot reform and SOE bailouts

This paper explores the influence of the State Capital Investing and Operating Company(SCIOC)pilot reform on SOE bailout using a staggered differencein-differences model.Based on a sample of listed SOEs during 2011-2018,we find that when the real controllers of listed SOEs enter the list of SCIOCs,soft budget constraints are alleviated and listed subsidiaries are less likely to become distressed.Mechanism tests indicate that SCIOCs help distressed firms through exiting the market,reducing bank loans,enhancing corporate governance,and improving operating efficiency.Heterogeneity tests show that the effect of SCIOC establishment is more significant in central and western regions,in public welfare and special function industries,for central SCIOCs,for state capital investing companies,when firms are organized in more layers,and for firms that engage in M&As.The empirical results show that the implementation of SCIOCs benefits both micro-enterprise development and state capital layout optimization.

Legal-Ease:Total Investment Capital & Registered Capital Allocations in China

With the Chinese Government, on a regional basis, specifying “minimum amounts” for registered capital contributions in order to establish foreign-invested enterprises in China, and with a similar occurrence concerning total invested capital requirements,

Does Population Aging Hinder the Accumulation of Human Capital?Evidence from China

There is no consensus on the impact of population aging on education investment.To explore this question,we first build an overlapping generations(OLG)model to theoretically analyze the effect of population aging on human capital investment in China,and then test our theory by conducting an empirical study based on micro household data.We find the following.(1)Theoretically,the OLG model shows that population aging has a crowding-out effect on education investment.(2)Empirically,the results show that the share of education and training expenditures decreases by 5.27 percentage points as the ratio of old people in the household increases by 100 percentage points,which confirms the crowding-out effect of population aging on human capital investment.(3)The crowding-out effect is far more intense on urban households than on rural households since health care expenditures will be greater in urban areas as population aging increases.(4)A quantile regression indicates that the negative effect of population aging on the share of educational expenditure is concentrated in households with higher shares of education expenditures.We confirm the robustness of our results using regional fixed effect and instrumental variable(Ⅳ)regressions.

Effects of China’s VAT system transition on firms’investment and employment——Empirical evidence from the national tax surveys of 2008-2009

Based on a theoretical analysis,this paper empirically studies the effects of China’s VAT system transition in 2009 on the Chinese firms’fixed capital investment and employee recruitment by using the data of National Tax Survey from 2008 to 2009 for the first time.The main findings are as follows.(1)The transition stimulates investment in some industries like Petrochemical,Electricity,and Equipment Manufacturing,but Automotive Industry and Extractive Industry are exceptional.(2)The transition impedes the growth of employment in the Processing Industry for Agricultural Products and the Petrochemical Industry,but has improved the employment situation in Electricity and Automotive industries.The prosperity and marketization degree of industries are key factors that determine the effects.Our findings show that the effects of China’s VAT system transition vary amongst different industries,which imply that when implementing the VAT-related reforms like the reform program to replace business tax with VAT,the Chinese government should design relevant institutions with regard to the macroeconomic environment and differences in industries,and gradually put reform measures into practice.

Validity of the Africa-wide Lang factor of 2.63 for estimating small biogas plant installation costs in Uganda

There is an increasing interest in popularizing small biogas plants to meet the bulk of domestic energy needs in Africa for cooking,lighting,and other activities such as cooling or refrigeration.As stakeholders(policy makers,donors,credit providers,sector experts,and product development professionals)contemplate programs,one of the key questions to which a reliable answer is needed is biogas plant installation cost that may vary from region to region.An Africa-wide materials’cost multiplier factor(Lang factor of 2.63)estimation approach has been proposed,based on data from only two locations.The factor’s validity throughout Africa has been questioned.This study shows that the Africa-wide Lang factor of 2.63 is applicable in Uganda.However,differences in accuracy have been observed based on whether the installation is located in a rural or urban setting.Location-specific factors of 2.984 and 2.404 for rural and urban locations were established and validated,respectively,which produced more accurate estimates in comparison with a single composite non-location specific factor.

Building State-owned Assets Supervision System and Conducting Mixed Ownership Reforms to Reinforce Each Other’s Collaboration

Improving the state-owned assets supervision system(SOASS)can effectively get over the defects of systems and mechanisms and further promote the reform of mixed ownership of state-owned enterprises(SOEs);and the deepening of the reform can advance the change of the SOASS to the supervision on capital.By analyzing the relationship between the SOASS and the reform of mixed ownership of state-owned enterprises,we have found that collaborative promotion of the change of the SOASS to the supervision on capital and promotion of the reform of mixed ownership can do good to ameliorating the corporate management mechanism,improving the market-oriented management mechanism of enterprises and completing the medium-and long-term incentive mechanisms,etc.to enhance business operation efficiency.Due to such prevailing problems as relative dispersion and vagueness of the policies relating to deepening the reform of SOEs,inconsistent progress of the reform of state-owned assets(SOAs)and SOEs,and corporate reform focusing on apprence,improving the SOASS and deepening collaborative development of the reform of mixed ownership of SOEs are hindered by some constraints.To construct and improve the SOASS and the reform of mixed ownership collaboratively,we should make efforts to promote the reform in the following five aspects,namely,placing importance to policy coordination,boosting synchronism of the reform of SOAs and SOEs at different levels and in different areas to coordinate the nationwide reform of SOAs and SOEs,facilitating reform of the mechanism of enterprises of mixed ownership through mixed capital,and promoting the SOASS and stimulating classified monitoring and reform of mixed ownership based on classified reform of SOEs.