Obligation-based Theory vs.Right-based Theory:Confrontation of Ideas Between Warrender and Strauss

There is a transition from the objective laws or moral orders that precede human will in classical natural law to the subjective demands or rights emanating from human will in modern natural law,and it represents a historical debate on the shift from an obligation-based theory to a right-based theory.Strauss,within the context of this transition across time,assesses Thomas Hobbes's philosophy of law and recognizes him as the founder of modern natural rights theory.Using Wesley Newcomb Hohfeld's analysis of jurisprudence,Howard Warrender assesses the privilege nature of Hobbes's concept of natural rights and concludes that,since Hohfeld's privilege is the opposite of obligation and related to no-right,obligations cannot be derived from natural rights.Therefore,Warrender argues that Strauss's assertion requires correction.However,Warrender places excessive emphasis on Hohfeld's static separation of the concept of privilege within his theoretical system,overlooking the dynamic transformation from privilege to claim rights.In this regard,Hobbesian scholar Carlan's criticism of Warrender is valid.Meanwhile,Warrender's research holds theoretical significance in that he,under the premise of being a part of Hobbes'natural law tradition,transforms Hohfeld's flat,two-party legal rights relationships into a three-party legal rights structure,which could represent a potential innovation in the 20^(th)century legal philosophy.

Political Connection, the Nature of Property Rights, and Enterprise M＆A Performance——Empirical Study based on the Panel Data of Listed Companies

Mergers and acquisitions （M＆A） are the important methods to quickly acquire external resources, achieve the economies of scale and the economies of scope, improve market share, and expand the scale of enterprise, while M＆A performance is an important index to measure if enterprise M＆A is successful. In this paper, the influence of entrepreneurs＇ political connection on the M＆A driving factors and M＆A efficiency of the enterprises with different property rights are analyzed using 357 mergers and acquisitions of China＇ s 189 listed companies in 2005-2011 as samples based on the distinction between political connection and the nature of enterprise property rights. The results show that the political connection plays a very significant positive influence on the M＆A performances of the central state-owned enterprises and private enterprises, but exerts a very significant negative influence on the local state-owned enterprises; the intensity of entrepreneurs＇ political connection also plays a certain influence on enterprise merger and acquisition, and the central political connection and the local political connection are significantly different in the influence on the enterprise M＆A performance.

RELATIONSHIP BETWEEN MAN AND NATURE IN TRADITIONAL HUMAN RIGHTS CONCEPTS OF CHINA AND WEST

As the process of economic globalization gathers momentum, dialogue between different cultures has become extremely important. There should be dialogue between the Chinese and Western cultures under the principle of equality and mutual respect and understanding to increase consensus for mutual development.

Human Rights as Unique Rights——an analysis of Raz's Political Concept of human Rights

The practice of international human rights has led to the development of the political notion of human rights in contemporary times and triggered the theoretical reflection on"what are human rights"The natural rights view,which is based on human nature,regards human rights as universal moral rights owned by everyone against all others.holding a different perspective from the natural rights view,Raz,the representative of the political notion of human rights,bases his view on the political function of human rights in restricting national sovereignty in international practice and defines human rights as the legal rights enjoyed by everyone against the country since the end of the World War ii,which should be enforced by fair and reliable international institutions.Unavoidably,Raz’s concept of human rights has been subject to questioning and criticism by natural right theorists.The controversy around Raz’s concept of human rights shows that:on one hand,the Western academic circle has not readied a basic consensus on the understanding of human rights based on international human rights practice;on the other hand,it deeply reveals the theoretical need for the international community to reach a basic consensus on international human rights practice in the historical context of the changing international legal order.

From the Subjectivity of Human Rights to the Universality of Human Rights——A Preliminary Interpretation of the Theory on the Subjectivity of Human Rights

Universality is one of the essential characteristics of human rights, but there is a substantive difference between idealism and realism in understanding the concept of universality of human rights. The concepts of radical universality and strong universality based on the concept of natural human rights are too idealistic and thus have a high risk of being alienated into a tool of international re-pression in practice. On the contrary, the theory on the subjectivity of human rights can effectively defuse this risk brought about by radical universality and strong universality. Advocating a transition from the universality of human rights to the subjectivity of human rights not only keeps in line with the actual construction process of international human rights, but can also effectively interpret the practical difficul-ties in the realization process of international human rights. Therefore, it can be used as another alternative theory on human rights beyond the theory of natural human rights.

Customer Concentration and Corporate Social Responsibility——An Empirical Study Based on Chinese Agricultural Listed Companies

Taking the agricultural companies listed in the A-share markets in Shanghai and Shenzhen as samples,the relationship between customer concentration and corporate social responsibility was studied. In addition,the regulatory role of property rights and regional factors was examined. The results showed that the degree of customer concentration is negatively related to the degree of fulfillment of corporate social responsibility; for companies with different property rights and regions,there are significant differences in the influence of customer concentration on corporate social responsibility. In non-state-owned enterprises and mid-western areas,customer concentration has a greater impact on corporate social responsibility.

The Relationship between Government Subsidies and Research & Development Investment of Chinese Agricultural Listed Companies

Based on the background of China's emerging and transitional market,government subsidies to enterprises are regarded as a " helping hand" of promoting economic structural adjustment. In this paper,using China's A-share agricultural listed companies from 2010 to 2015 as research samples,we discuss the influence of government subsidies on research and development( hereinafter referred to as R & D) investment,and the difference in the relationships between the two from the perspective of different nature of property rights. The results show that,on the whole,the increase in government subsidies does not promote the intensity of R & D investment of agricultural listed companies. And after distinguishing the nature of property rights,the results show that state-owned enterprises can get more government subsidies than private enterprises,and the increase in government subsidies boosts the increase in R & D investment in private enterprises,but there is a negative correlation between government subsidies and R & D investment of state-owned enterprises. This conclusion can broaden the research perspective of the influence factors of corporate R & D investment,and it is of practical significance to further clarify the role of government subsidies in R & D investment decisions of enterprises with different nature of property rights.

Top Executive Turnover and Finn Performance Evidence From China

By using the data of the listed companies in Shanghai and Shenzhen stock market---a share market as a sample from 2003 to 2007 to analyze the relationship between corporation performance and top executive alteration, different succession modes get different efficiency. The result shows that： The decline of company performance will cause the top executive turnover, and that the possibility of top executive turnover in non-state-owned listed companies is higher than that of the state-owned companies. In the routine turnover sample, the performance level of the internal succession is better than that of the external succession. In the non-routine turnover sample, the results are reversed. For further analysis, the main sources of the improvement for performance are items of below-the-line and non-recurring profit and loss, rather than the company＇s operating revenue.

The Mentally Offset Human and the Society

A human being is a complex type of creature whose existence depends on three components;the spirit, the soul and the body which interact in a reversible manner. I do believe that there comes a time when there is lack of a reversible interaction between the soul and the spirit in certain individuals which leads to a state of mental offset. For humans to live in sociality the world is governed by humans’ laws but the mentally offset human do not live according to these laws. Due to this, they are considered as being useless in the society but I do believe that they have complete natural human rights and are not useless for they are aware of each act they perform. It is observed that the mentally offset human hardly acquire a disease from natural origin, I do believe that due to this lack of a reversible interaction between the soul and the spirit, the immune system is reprogrammed such that there is a lack of recognition of exogenous and endogenous pathological substances and there is no means of interaction between these substances and the body cells.

An Empirical Study on CEO’s Academic Experience and Financing Constraints-Taking Shanghai and Shenzhen A-Share Listed Companies as Samples

Taking A-share listed companies in Shanghai and Shenzhen from 2007 to 2018 as samples,this paper analyzes the influence of CEO’s academic experience on corporate financing constraints.The empirical results show that there is a negative correlation between CEO’s academic experience and enterprise financing constraint level.Compared with state-owned enterprises,the academic experience of CEO in private enterprises is significantly negatively correlated with the level of corporate financing constraints.It also suggests that CEO’s academic experience can significantly reduce the level of financing constraints in the company samples audited by accounting firms(not Big 4).The conclusion of this paper is helpful to enrich the research of manager characteristics and corporate governance.At the same time,the research in this paper has reference significance for enterprises to ease the level of financing constraints.

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.

Morality and Realpolitik:The Ideas of American Upper Class in the North on the Blacks and Slavery Before the Civil War

The condemnations of black slavery were not common before the mid-18th century,and they were mostly based on Christian egalitarianism.Around the American Revolution,with the spread of the theory of natural rights,many social elites believed that slavery deprived blacks of their natural rights and violated the principle of equality in a democratic republic.Anti-slavery gradually became the mainstream public opinion.However,since slaves were private property of many politicians,the abolition of slavery would act against the interests of white elites,and the ideology of racial confrontation between blacks and whites provided an identity to the white community.Therefore,slavery was reserved from the founding period.In the mid-19th century,various social reforms arose.Humanitarianism was deeply rooted in elites'minds,and the idea that blacks have the general attributes of human beings is gradually accepted by educated white people.The sense of dignity of work in the North constituted a different value from the South and became another theoretical basis for public voice to criticize slavery.However,for the sake of party unity and the national interest,the abolition were not put into practice until the Civil War broke out.By the middle of the 19th century,although the public opinion of anti-slavery was formed in the North,the upper class elites held the position of realpolitik while balancing the morality of abolition and the economic and political interests.