Evaluation of Role of Home Market Effects in China′s Manufacturing Industries

Under the theoretical framework of the New Trade Theory and the New Economic Geography, Home Market Effects (HMEs) is considered to be important sources of comparative advantage and significant reasons for industry agglomeration. Through the analysis on the input-output tables in China, the paper confirms the existence of HMEs for the manufacturing industries and their export trades on the national and provincial level in China. Several conclusions have been drawn in this study. Firstly, there exist prominent HMEs for manufacturing industries related with nondurable goods and materials in China. Secondly, 10 of the 15 kinds of manufacturing industries considered in this study display the existence of HMEs. Thirdly, the comparative advantage of factor endowment for the export trade of manufacturing industries is declining, while HMEs for them are increasing. Fourthly, among the 30 provincial regions studied in this paper, 11 regions show the existence of HMEs, most of which are located in the eastern coast region. This paper illustrates the simultaneous existence of the comparative advantage of factor endowment and scale economies of HMEs for China's manufacturing industries. HMEs will not only be the new dynamic for the increase of manufacturing industries and their export trade, but also be the primary power for urban economic growth, industry improvement, and urban space expansion for China.

Investigation on the Quality of Financial Enterprises＇ XBRL Formatted Financial Report and Its Market Effect

The application of extensible business reporting language （XBRL） has been widely used across the globe in recent years. Many countries already made XBRL mandatory in their accounting system. The financial industry is normally the first XBRL network report implementer in these countries and it has its own industry classification standard. However, there are many issues been reported on the quality of XBRL formatted financial statement in the financial industry, such as project omission, project misstatements, account omission, and amount misstatements. This paper has conducted an empirical research on the quality of XBRL financial statement in the financial industry based on all samples available from the Shanghai stock exchange and analyzed the market effect of these issues for over six year window period. A web presentation quality evaluation criteria evaluation model was used in the investigation. Evidences indicate that the number of errors in report item omissions was the biggest problem in XBRL formatted financial reports comparing with other types of errors, while this affected the growth rate of company, unexpected rate of return, and the adoption of XBRL. Suggestions on solving these issues are then provided after comparing with the data point methodology （DPM） implementation for XBRL financial reporting in European countries, especially the World Bank.

Empirical Analysis of the Market Effects of China＇s Listed—— Company＇s Dividend Policy ——Empirical Evidences from Shanghai Stock Exchange from 2004 to 2005

Dividend policy is one of the three core contents of financial management in listed companies. On one hand, it is the extension of financial and investment activities; on the other hand, appropriate dividend policy can not only set up a good company reputation, but also arouse enthusiasm of many investors to continue invest in this company, consequently acquire long and stable development opportunities and conditions. In this paper, the author has put forward some suggestions in order to solve the problems which existing in Chinese listed companies＇ dividend policies based on the result of positive test. Firstly, optimize the structure of equity title and perfect the corporate governance. Secondly, to establish wholesome shareholder protection mechanism, and also it is important measure for investors, especially medium and small investors to protect their rights and interests. According to the present situation of Chinese stock market, the authors consider we can protect the shareholder＇s benefits by carrying out cumulative vote system, establishing hortative derive lawsuit system, perfecting civil compensation system and establishing shareholder voting removing system and so on. Thirdly, the establishment of listed companies＇ dividend policy and the release of message should be standardized for the sake of good relationship of melon-cutting and corporation＇s refinancing plan. Finally, listed companies＇ dividend policy can be optimized by modifying and perfecting stock dividend distribution mode of accounting management, perfecting exit mechanism of listed companies.

Was there a Portfolio Effect of the Micro-economic Leverage ？ Some Empirical Evidence from the Chinese Stock Market

The study is on a linear model of the relationship between the systematic risk and the micro-economic leverage and analyzed the data from the steel, energy source and chemical fibre industry listed companies in the Chinese stock market in 2002 and 2001. Using the linear regression method, empirical equations were found. The portfolio effect was shown so that some empirical evidence had been found to support the micro-economic leverage portfolio effect theory, which was that the listed companies balanced the operating and financial leverage to minimize the systematic risk.

Comparative Analysis of the Effects of False Low-Price Marketing Strategy on Multiple Platforms

In order to make full use of the characteristics of commodity prices,merchants on e-commerce platforms have adopted the low-price marketing strategy.Regular promotional discounts can bring new vitality to the commodity sales market,but extreme discount marketing methods would lead to serious impacts on the sales of competing products,thus affecting the stable development of the online shopping market.The sales data of four electrical products using the false low-price marketing strategy on three e-commerce platforms(Taobao,JD,and Amazon)were used in this study.The sales data from different e-commerce platforms and different time periods were analyzed,and one-way ANOVA was used on the factors affecting the effect of marketing strategy.The results showed that there is a significant difference between the direct marketing of high-priced products and low-priced products on Taobao;the difference between the marketing effects of high-priced products and mid-priced products on JD and Amazon is significant.This analysis would help businesses formulate reasonable marketing strategies and promote the stable development of the online shopping market.

PTA Import's Effect on Domestic Market

In recent years,the polyester industry has kept a stable development,and the consumption for PTA has been lifted up year by year.From 2001 to 2006,the growth rate of PTA consumption was around 20.7% averagely.Though it began to be not as fast as it used to in recent a couple

Input Trade Liberalization and Welfare Loss of Manufacturing Enterprises:Based on the Perspective of Efficient Market Power

Considering that upstream monopoly will lead to an exponential increase in the loss of social welfare,this paper investigates the impact of intermediate goods tariff concession on the welfare loss of manufacturing enterprises from the perspective of input trade liberalization and effective market power.It has been discovered that input trade liberalization significantly reduces the welfare loss of manufacturing enterprises.Due to the game condition in which oligopolies check each other and small businesses“gain from fishing”,the inhibitory impact increases as market share decreases.The mechanism test demonstrates that input trade liberalization boosts the effect of technical competition and minimizes welfare loss through promoting market development degree and reducing factor distortion.In addition,this paper also finds that the effect of input trade liberalization on high monopolistic power enterprises is obviously stronger than that of low monopolistic power enterprises.Furthermore,the impact on non-high-tech industries and capital-intensive enterprises is significant,while that on high-tech industries and labor-intensive industries is not.Therefore,the welfare loss should be investigated from the dual perspective of market structure and marker power.Competitiveness has an important effect,while trade liberalization of intermediate inputs has a pivotal effect on promoting market development and improving resource allocation efficiency.

Application of fuzzy integrated evaluation in the safety of coal industry of China

Based on fuzzy integrated evaluation theory, the safety of coal industry was analyzed, the factors affecting the safety of coal industry was considered, and its fuzzy in- tegrated estimating theory and results were given. Finally this paper proposed a new method of industry safety estimation. According to this method, we can integrate the fac- tors affecting coal industry and deal with the parameters and targets of evaluating factors by quantitative analysis, thus give a scientific and reasonable safety degree analyzing evaluation.

Examining Mediating Role of Customer Loyalty for Influence of Brand Related Attributes on Customer Repurchase Intention

The objective of current study was to investigate the influence of brand related attributes on customer loyalty and repurchase intention in agricultural product marketing in Pakistan. Results of current study would help the management of branded agricultural products, in Pakistan specifically and in developing countries generally, to formulate the best strategies to enhance customer loyalty in order to induce repurchase intention of them. Future research could be conducted in the same field by adopting larger sample size and this research can be replicated with specific product category.

Downstream Competition and Upstream Innovation:Theory and Evidence from China

Competition is the catalyst of corporate innovation,which is the foundation of a country's core competitiveness.From the view of vertical industrial chain,this paper examines how downstream competition affects upstream firms'innovation output.Given innovation helps reduce the production cost of each product,increasing demand of intermediate products caused by downstream competition enhances the marginal revenue of upstream firms'innovation,thus leading to an innovation incentive effect.To identify causality,we utilize China's WTO accession,a quasinatural experiment,to calculate downstream competition combined with import tariff reduction and input-output table,and then run a difference-in-difference regression.Using the data of Annual Survey of Industrial Firms and State Intellectual Property Office,our results find that downstream competition has a significantly positive impact on upstream firms'innovation,and this effect is more pronounced in firms with less industry competition,greater initial innovation capacity and weaker financial constraints.Moreover,the number of firms,the degree of industry competition and the scale of intermediate products in the downstream sector increase,confirming the market size channel.In sum,our findings document that downstream competition can motivate upstream firms to innovate through vertical industrial chain,providing some useful insights for China to build a fair market competition environment and promote innovation-driven growth regime.

Home Market Effects of Foreign Trade in China's Manufacturing Sector:Analysis Using International Standard Industry Classification Panel Data

In this paper, we use 2002-2008 International Standard Industry Classification two-digit bilateral trade paneI data for manufacturing industries in China and the OECD countries to test for the existence of home market effects. We find that significant home market effects exist in 8 out of 12 industries. These industries include the food, beverage and tobacco industry, wood products, the paper products and printing industry, chemical products, other non- metallic mineral products, machinery and equipment, transport equipment, and miscellaneous products and waste resources recycling industry. Textile, clothing and leather manufacturing, oil refining and nuclear fuel manufacturing, rubber andplastics, and basic metals and fabricated metal products industries do not exhibit home market effects. Indeed, strong reverse home market effects occur for oil refining and nuclear fuel manufacturing and for the rubber and plastics industry. The empirical results reveal that certain industries benefit from new export opportunities due to the expansion of domestic demand in China.

What Is the Driving Force of Future Development of International Trade in China?

During over 40 years of rapid growth after China’s reform and opening up,factor dividends have always been an essential basis for China’s development of open economy.With China’s economy entering into a new normal and the promotion of a new round of high-level opening up,China is gradually forming new competitive advantages in the field of international trade.Starting from factor dividends,this paper analyzes the advantages and trend of China’s international trade in the past,and further analyzes the formation of China’s new advantages in the fi eld of international trade from four aspects.In the first place,as the digital economy is becoming the core force for the new round of industrial revolution,China’s leading position in digital trade has become more evident,which leads to China’s opportunity to exercise its discourse power and formulate new rules and pattern of global digital trade.In the next part,the Belt and Road Initiative(BRI)has opened up a new path for further international trade cooperation,improving the opening up pattern with the combination of sea and land,home and abroad,coastal and inland.Afterwards,the supply-side structural reform has entered a new stage,continually releasing institutional dividends,deepening the systematic reform.In the end,the huge demand of domestic markets and its growing potential have driven the utilization of domestic market effect,leading to the development of scale economy and the competitiveness of Chinese economy and enterprises.The formation of China’s new advantages in global trade will further promote China’s participation worldwide.