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.

Fama-French-factor model,size and book-to-market effect:An empirical investigation of the Chinese stock market

In this study, we use Chinese A-share stock market data from 1995 to 2005 to test the persistence of the size and valueeffect and the robustness of the Fama-French three-factor model in explaining the variation in stock returns.Wefind that the three-factor model can explain the common variation in stock returns well.However, it is mis-specifiedfor the Chinese stock market.We demonstrate that the size effect and the book-to-market effect are significant andpersistent over our sample period.Interestingly, the book-to-market effect for China is much stronger than the averageones in mature markets and other emerging markets documented by Fama and French (1998).Moreover, we find noevidence to support the argument that seasonal effects can explain the results of the multifactor model.Last, our mixedobservations on firm-specific fundamentals suggest that the risk-based explanation proposed by Fama and French(1995) cannot shed light on the size and BM effect for China.In view of the features of the Chinese stock market, weinstead argue that China’s size and book-to-market effect may be attributed to syndicate speculators’ manipulation andmispricing caused by irrational investor behavior.

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.

Contribution of the MERISE-Type Conceptual Data Model to the Construction of Monitoring and Evaluation Indicators of the Effectiveness of Training in Relation to the Needs of the Labor Market in the Republic of Congo

This study proposes the use of the MERISE conceptual data model to create indicators for monitoring and evaluating the effectiveness of vocational training in the Republic of Congo. The importance of MERISE for structuring and analyzing data is underlined, as it enables the measurement of the adequacy between training and the needs of the labor market. The innovation of the study lies in the adaptation of the MERISE model to the local context, the development of innovative indicators, and the integration of a participatory approach including all relevant stakeholders. Contextual adaptation and local innovation: The study suggests adapting MERISE to the specific context of the Republic of Congo, considering the local particularities of the labor market. Development of innovative indicators and new measurement tools: It proposes creating indicators to assess skills matching and employer satisfaction, which are crucial for evaluating the effectiveness of vocational training. Participatory approach and inclusion of stakeholders: The study emphasizes actively involving training centers, employers, and recruitment agencies in the evaluation process. This participatory approach ensures that the perspectives of all stakeholders are considered, leading to more relevant and practical outcomes. Using the MERISE model allows for: • Rigorous data structuring, organization, and standardization: Clearly defining entities and relationships facilitates data organization and standardization, crucial for effective data analysis. • Facilitation of monitoring, analysis, and relevant indicators: Developing both quantitative and qualitative indicators helps measure the effectiveness of training in relation to the labor market, allowing for a comprehensive evaluation. • Improved communication and common language: By providing a common language for different stakeholders, MERISE enhances communication and collaboration, ensuring that all parties have a shared understanding. The study’s approach and contribution to existing research lie in: • Structured theoretical and practical framework and holistic approach: The study offers a structured framework for data collection and analysis, covering both quantitative and qualitative aspects, thus providing a comprehensive view of the training system. • Reproducible methodology and international comparison: The proposed methodology can be replicated in other contexts, facilitating international comparison and the adoption of best practices. • Extension of knowledge and new perspective: By integrating a participatory approach and developing indicators adapted to local needs, the study extends existing research and offers new perspectives on vocational training evaluation.

Market Scale, Home Market Effect and Evolution of Spatial Economic Structure: China's Regional Coordinated Development on Different Spatial Scales

By using a new economic geography model of multi-region to study the impact of market scale on spatial economic structure,we find that the home market effect plays a key role in it.At different development periods,under external shocks such as transportation costs and so on,industry shares will change due to the distribution of market scale.The spatial economic structure will gradually evolve into such forms as single core or dual-core structure,especially"central collapse"will be found in the process.Such results can be used to analyze the practical problems,including the"central collapse"in the east,central and west regions of China,the structure of city clusters,etc.With the rapid development of transportation infrastructures,China will form a variety of development patterns on different spatial scales owing to home market effect.The regional convergence can be reached through reducing the economic distance and promoting agglomerative economies,which will help achieve regional coordinated development.

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.

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.

Lemon Effect of Green Agricultural Products and Its Marketing Strategy

The paper introduces the lemon effect of green agricultural products,analyzes the formation reasons of the lemon effect of green agricul-tural products and summarizes problems brought by the effect,such as malicious deception and high price.The paper proposes countermeasures toavoid the lemon effect of green agricultural products from a perspective of marketing.The first is to strengthen the quality supervision of green agri-cultural products,upgrade the quality of products,and build up branded products.The government should foster the main body of the products andguide the main body to realize the importance of brand construction and management.The second is to construct a sales channel system of greenagricultural products,making use of the trading center of modern green agricultural products to sell products,developing a long term partnershipwith processing industries,big supermarket and restaurants,making use of internet and selling products online and offline.The third is to propagatethe products.Make a good use of advertisement,personal sales,propagation and public relations to accelerate the healthy development of greenagricultural 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

Analysis of Volatility Spillover Effect of Soybean Price between Domestic and International Markets

Sharp fluctuation of soybean prices in international and domestic markets has caused big risks for both domestic soybean producers and processing enterprises in recent years. It also increases the difficulties in implementing price stabilization policy for the government. This paper analyzes the volatility spillovers in soybean prices between international and domestic markets using the multivariate VAR-BEKK-GARCH model based on the data set from December 22,2004 to December 19,2014. The estimate results indicate that there are volatility spillover effects from domestic futures market to spot market and bilateral spillover between international futures market and domestic spot market. In order to prevent market manipulation and to reduce the impacts of price volatility in international soybean market on Chinese market,this paper proposes the following policy measures such as establishing early warning mechanism for soybean price fluctuations,improving soybean futures contract design and strengthening trading risk management mechanism,amplifying information disclosure system,and regularizing speculation activities of big traders.

Analysis of Celebrity Effect

随着市场经济的发展，品牌已成为市场营销的重要手段。企业聘请明星作为广告代言人的现象日益普遍，“明星效应”这个词应运而生。同时，明星效应带来的负面影响也成为颇受争议的话题。本文从明星效应现象的形成及其在日常生活中的普遍性展开分析，探讨了明星效应的积极作用及其存在的弊端，并从法律及道德层面为这些弊端提出相应的对策，以达到全面解读明星效应现象的目的。

Asymmetric Regulation System Fit for Chinese Telecom Market

After the new round of restructuring of Chinese telecom sector,it's pressing to formulate and implement asymmetric regulation policies so as to shape an effectively competitive market structure in a relatively short term.This paper reviewed the asymmetric regulation policies and practices carried out in foreign telecom market,and then according to the specific situations of Chinese telecom market,proposed the principles and corresponding policies for establishing an asymmetric regulation system fit for Chinese telecom market.

数字金融对地方政府债务的影响研究——基于省级面板数据的实证检验

本文基于2015—2021年中国省级面板数据实证研究数字金融对地方政府债务的影响,发现两者呈现出显著为负的非线性关系,数字金融的发展对地方政府优化自身债务、降低系统性金融风险具有积极作用。采用系统聚类将31个省(区、市)分为发展中、次发达、发达地区三大组别,发现数字金融对地方政府债务的抑制作用在发展中地区表现得最为显著。市场化水平在数字金融抑制地方政府债务过程中具有正向调节作用,特别是当市场化水平跨越一定的门槛值以后,数字金融对地方政府债务的影响显著增强。在此基础上,提出了数字金融背景下分类施策缓解各级地方政府债务问题的相关建议。

Effects of Charcoal Marketing on the Environment and Health in the City of Cotonou in Southern Benin

Charcoal marketing is the main activity in the Gbegamey district of Cotonou. The aim of the study was to determine the effects of charcoal marketing on the environment and health of the Gbegamey population. A mixed descriptive and evaluative design was adopted. Data were collected using an interview guide, a structured non-participatory observation grid and air quality analysis equipment (PCE RCM 8 air quality detector;Carbon monoxide meter AS 87000A and Anemometer AM 4812) among charcoal traders, food vendors and residents living near charcoal sales outlets, selected by non-probabilistic purposive sampling, and were analysed with reference to national regulatory provisions and WHO recommendations (2022). 57 people, including 26 shopkeepers, were surveyed. Their average age was 45, with extremes of 25 and 65. The effects of charcoal marketing on health and the environment were known to 23 traders, who unfortunately did not adopt any protective measures. Some of the health effects mentioned were rheumatic and cardiovascular diseases. Pollutants (PM1: 96 µg/m3, PM2.5: 161 µg/m3, PM10: 206 µg/m3, CO: 185 mg/m3) were present in the coal-selling environment at Gbegamey. According to the respondents, respiratory diseases (42.31%), rheumatic diseases (30.77%) and cardiovascular diseases (11.54%) affected the traders, while respiratory diseases (51.61%) affected the general population. The marketing of charcoal in the Gbegamey district generates a high concentration of pollutants in the atmosphere. The activity needs to be monitored in order to limit its effects.

智慧物流与企业可持续发展——基于经济绩效与环境绩效的双重验证

在“双碳”战略目标和可持续发展背景下,智慧物流为促进企业可持续发展提供了新契机。利用2009—2021年我国地级及以上城市数据,测度城市层面智慧物流水平,并将其与A股制造业上市公司数据进行匹配,考察了智慧物流对企业经济绩效和环境绩效的影响。结果表明,智慧物流对企业经济绩效和企业环境绩效具有显著的正向影响,这意味着智慧物流可以促进企业可持续发展。机制检验表明,智慧物流通过发挥成本效应、市场整合效应以及学习效应三种机制促进企业可持续发展。异质性分析表明:智慧物流的可持续发展效应主要存在于交通条件便利地区和外部媒体关注度高的企业;对于市场激励型环境规制地区,智慧物流仅发挥了经济效应。拓展研究发现,智慧物流对企业可持续发展的影响具有网络效应,现代物流创新发展试点政策的激励作用尚未实现经济与环境“和谐共生”。研究结论为我国政府优化智慧物流政策和“双碳”愿景下制造业企业实现可持续发展提供了路径选择。

Dynamic Promotional Resource Allocation for Segment Specific and Spectrum Effect of Promotion for a Product Line Incorporating Repeat Purchase Behavior

Promotion is an essential element in the marketing mix. It is used by businesses to inform, influence and persuade customers to adopt the products and services they offer. Without promotion, business would be stagnant and lack substantial growth because the brands would have low visibility in the market. Moreover, today’s vast and assorted markets comprise of customers with different needs and varied behavior. So it is rarely possible for companies to satisfy all customers by treating them alike. Thus there arises a need to divide the market into segments having customers with similar traits/characteristics. After identifying appropriate market segments, firms can design differentiated promotional campaigns for each segment. At the same time there can be a mass market promotional campaign that reaches different segments with a fixed spectrum. Also since promotional effort resources are limited, one must use them judiciously. In this paper, we formulate mathematical programming problem under repeat purchase scenario, which optimally allocates mass promotional effort resources and differentiated promotional effort resources across the segments dynamically in order to maximize the overall sales obtained from multiple products of a product line under budgetary and minimum sales aspiration level constraint on each product under consideration in each segment. The planning horizon is divided into multi periods, the adoption pattern of each product in each segment is observed in every subinterval and accordingly promotional effort allocations are determined for the next period till we reach the end of planning period. The optimization model has been further extended to incorporate minimum aspiration level constraints on total sales for each product under consideration from all the segments taken together. The non linear programming problem so formulated is solved using differential evolution approach. A numerical example has been discussed to illustrate applicability of the model.

农产品加工企业市场势力与技术创新

农产品加工企业创新是乡村产业高质量发展的重要驱动,但鲜有文献从市场势力视角研究农产品加工企业创新激励。为此,基于创新决策模型解释企业市场势力对技术创新的影响及机制,并采用2008—2021年农产品加工业上市公司数据,运用DLW市场势力测度方法,建立动态面板模型进行实证检验。结果显示:第一,市场势力对农产品加工企业技术创新存在显著促进作用,在使用Bartik工具变量和2SLS方法处理内生性后,该促进作用依然显著;第二,市场势力通过溢价效应和成本效应等机制共同推动农产品加工企业技术创新;第三,市场势力对技术创新的促进作用随着城市交通便利度、企业产权属性等不同呈现出异质性特征。需要从培育领军企业、加强交通基础设施建设、发挥国有企业创新引领作用等方面制定相关政策,以促进农产品加工企业创新,从而助推乡村产业高质量发展。

奖励式众筹的后续市场效应:基于场景视角的研究

场景化赋予奖励式众筹独特的情感体验与社群价值,使得国内的众筹模式逐渐脱离早期单一的融资属性,向新品推广、品牌孵化、场景营销等多元化功能演变。文章选取小米有品众筹平台数据作为研究样本,基于场景视角探讨了奖励式众筹的场景化运作与价值创造逻辑,通过有序Logistic模型考察了奖励式众筹的后续市场效应,以及场景营销、场景互动的调节作用。研究发现,奖励式众筹绩效对于产品后续市场表现具有显著的正向影响,场景营销能够强化这一关系,而普通用户互动比领先用户互动的调节作用更为显著。异质性分析发现,奖励式众筹的后续市场效应在平台嵌入程度较高的企业中更为显著。进一步研究发现,奖励式众筹具有品牌推广效应,能够显著提升企业的品牌关注度。文章基于场景视角拓展了众筹研究的边界,对奖励式众筹平台及企业的场景化创新具有一定的指导意义。