The occurrence of social security events is uncertain, and the distribution characteristics are highly complex due to a variety of external factors, posing challenges to their rapid and effective handling. The scienti...The occurrence of social security events is uncertain, and the distribution characteristics are highly complex due to a variety of external factors, posing challenges to their rapid and effective handling. The scientific and reasonable requirement evaluation of the emergency force to deal with social security events is very urgent. Based on data analysis, this paper uses the neural network, operational research, modelling and simulation to predict and analyze social security events, studies the usage rule of emergency force and deployment algorithm, and conducts simulation experiments to evaluate and compare the different force deployment schemes for selection.展开更多
At present, the emotion classification method of Weibo public opinions based on graph neural network cannot solve the polysemy problem well, and the scale of global graph with fixed weight is too large. This paper pro...At present, the emotion classification method of Weibo public opinions based on graph neural network cannot solve the polysemy problem well, and the scale of global graph with fixed weight is too large. This paper proposes a feature fusion network model Bert-TextLevelGCN based on BERT pre-training and improved TextGCN. On the one hand, Bert is introduced to obtain the initial vector input of graph neural network containing rich semantic features. On the other hand, the global graph connection window of traditional TextGCN is reduced to the text level, and the message propagation mechanism of global sharing is applied. Finally, the output vector of BERT and TextLevelGCN is fused by interpolation update method, and a more robust mapping of positive and negative sentiment classification of public opinion text of “Tangshan Barbecue Restaurant beating people” is obtained. In the context of the national anti-gang campaign, it is of great significance to accurately and efficiently analyze the emotional characteristics of public opinion in sudden social violence events with bad social impact, which is of great significance to improve the government’s public opinion warning and response ability to public opinion in sudden social security events. .展开更多
Following is an interview by staff reporters of the Human Rights magazine with Zheng Silin, Chinese minister of labor and social security. The interview was meant in part to celebrate the tenth anniversary of the impl...Following is an interview by staff reporters of the Human Rights magazine with Zheng Silin, Chinese minister of labor and social security. The interview was meant in part to celebrate the tenth anniversary of the implementation of the Labor Law of the People’s Republic of China that falls on January 1,2005. We are publishing this transcript with a view to providing our readers with information about how China has worked persistently to protect citizens’ right to work and social security and the achievements it has made in this regard. We need to remind our readers of the fact that back in March 2004, the National People’s Congress, China’s highest legislature, approved a recommendation for revision of China’s Constitution. In accordance with the recommendation, the Constitution had one more clause added: The state shall establish and improve a social security system commensurate to the level of the economic and social development.展开更多
Social security has,as one of its primary aims,the provision of financial support to those deemed to be poor or facing the threat of poverty.Based on China's national statistical data covering social insurance,soc...Social security has,as one of its primary aims,the provision of financial support to those deemed to be poor or facing the threat of poverty.Based on China's national statistical data covering social insurance,social assistance,and social welfare between the period 1978–2018,this paper evaluates the effect of social security expenditure in reducing income inequality and rural poverty with cointegration analysis.It was found that there is a positive correlation between social security expenditure and the income gap of urban and rural residents in the long run,but the effect is very limited;nearly 99%of the changes of the urban–rural income gap come from its own contributions.Further research also shows that the elasticity of rural poverty incidence to social security expenditure is–0.2255,which indicates social security expenditure helps reduce rural absolute poverty.Based on these findings,the policy implications can be that much social security expenditure and a more equitable social security system should be encouraged.It will become one of the major anti-poverty strategies after 2020 in China when we win the battle against absolute poverty.展开更多
From the situations about the incomes and life quality of the urban and rural residents,the thesis briefly introduces the status quo of the urban-rural income gap and explores the impact of the income gap on social ec...From the situations about the incomes and life quality of the urban and rural residents,the thesis briefly introduces the status quo of the urban-rural income gap and explores the impact of the income gap on social economy:firstly,it hampers economic development;secondly,it is detrimental to the social development.Then the thesis analyzes the role of a sound social security in narrowing urban-rural income gap:at first,it broadens the institutional environment of improving the agricultural efficiency;secondly,it eliminates the uncertainties influencing the farmers' income;thirdly,it improves the farmers' capacity to increase income;at last,it enhances the farmers' consciousness of wealth.Next the thesis inquires into the problems existing in the system of rural social security:the first problem is more obviously fragmented system;the second is inadequate security projects and narrower coverage;the third is an obvious lack of equality in urban and rural security;the fourth is even less sound management system;the last is the lagging of legislation.Afterwards the thesis proposes the countermeasures and suggestions to improve the system of rural social security and narrow urban-rural income gap:firstly,to integrate the social security system in rural areas;secondly,to perfect security projects and enhance the security system;thirdly,to integrate the administrative management of social security;at last,to enforce the legal system.展开更多
Social security of migrant workers has been significant in dissolving social contradictions and achieving the economic and social development in China during the transitional period. The researches of domestic scholar...Social security of migrant workers has been significant in dissolving social contradictions and achieving the economic and social development in China during the transitional period. The researches of domestic scholar on social security of migrant workers can be classified into three categories. Firstly, theoretical analysis on social security of migrant workers, including researches on the appeal of social security and misunderstanding of recognition, theory-construction of rural worker social security, policy defects and equity construction in social security system of migrant workers. Secondly, real studies on social security of migrant workers, including researches on sequence of demand and influencing factors of social security of migrant workers as well as intrinsic motivation forming the perspective on social security. Lastly, road exploration of establishing social security system, including researches on the multi-level development of rural worker social security system, comparison of "Double-low method", "Guangdong Method" and "Shanghai Method" of the social security of migrant workers in Zhejiang Province and establishing multi-level social security system according to the hierarchy after the internal differentiation.展开更多
Clarifying the relationship between social security and economic development is helpful to realize the sustainable social security system and the stable function of sustainable economic development.In this paper,the e...Clarifying the relationship between social security and economic development is helpful to realize the sustainable social security system and the stable function of sustainable economic development.In this paper,the entropy method,coupling coordination degree,standard deviation ellipse model,and spatial autocorrelation were used to study the spatial-temporal characteristics of coupling coordination of social security and economic development in China from 2002 to 2018.The results indicate that the relationship between social security and economic development in China has been gradually strengthened in the process of mutual adaptation and common development.The benign interaction between the two was unstable,though the coupling coordination degree gradually transitioned to the primary coupling coordination type.Besides,from a spatial perspective,first,the coupling coordination degree of social security and economic development in China contracted in the east-west and north-south directions,and the coupling coordination clustered in the central region in this period;second,the coupling coordination degree generally presented a positive spatial autocorrelation,and regions with similar coupling coordination degrees were in a state of agglomeration;finally,the hot spots clumped together to form a continuous area in the eastern coastal area while the cold spots expanded toward the northwest and northeast.Furthermore,the random distribution areas exhibited a trend of contraction.展开更多
China's reform and opening-up policy,launched in 1978,marks the start of the internationalization process of its social security system.This paper takes the notion of "a community with a shared future" a...China's reform and opening-up policy,launched in 1978,marks the start of the internationalization process of its social security system.This paper takes the notion of "a community with a shared future" as the perspective to analyze the internationalization of social security in the process of China's reform and opening up.Based on China's developments in globalization,it divides the internationalization process of China's social security from 1978 to 2018 into three stages: the stage of reshaping the domestic social security system with reference to the best international practice; the stage of achieving bilateral or multilateral alignment on the premise of equality and mutual benefit,and the stage of injecting Chinese wisdom in social security into the development of global social security.The trajectory of the development of China's social security internationalization shows the incremental evolution within the country,between nations,and in the world community.This paper studies the internationalization process to show China's grand achievements in the four decades of reform and opening-up and to demonstrate Chinese wisdom and confidence.展开更多
China,already possessing a large number of retirees,will become one of the countries with a predominant-ly aged population by the end of the century.A retirement boom is ex-pected for the year 2030,when China will hav...China,already possessing a large number of retirees,will become one of the countries with a predominant-ly aged population by the end of the century.A retirement boom is ex-pected for the year 2030,when China will have over 100 million senior citizens living on an annual pension of billions of yuan.There-fore China is working to legislate a Chinese style social insurance system by the year 2000.This system will be independent of enterprises and cov-er workers in both rural and urban areas.It will be reasonable in its.expenditures because its funding will come from a wide range of sources.It will make a balanced and rational use of these funds and will be run by a highly socialized and coordinated administration.展开更多
Chinese President Hu Jintao has stressed the need to stabilize commodity prices, extend the coverage of the social security network and boost employment to ensure the country develops in a comprehensive,
This article signals the use of Artificial Intelligence (AI) in information security where its merits, downsides as well as unanticipated negative outcomes are noted. It considers AI based models that can strengthen o...This article signals the use of Artificial Intelligence (AI) in information security where its merits, downsides as well as unanticipated negative outcomes are noted. It considers AI based models that can strengthen or undermine infrastructural functions and organize the networks. In addition, the essay delves into AI’s role in Cyber security software development and the need for AI-resilient strategies that could anticipate and thwart AI-created vulnerabilities. The document also touched on the socioeconomic ramifications of the emergence of AI in Cyber security as well. Looking into AI and security literature, the report outlines benefits including made threat detection precision, extended security ops efficiency, and preventive security tasks. At the same time, it emphasizes the positive side of AI, but it also shows potential limitations such as data bias, lack of interpretability, ethical concerns, and security flaws. The work similarly focuses on the characterized of misuse and sophisticated cyberattacks. The research suggests ways to diminish AI-generating maleficence which comprise ethical AI development, robust safety measures and constant audits and updates. With regard to the AI application in Cyber security, there are both pros and cons in terms of socio-economic issues, for example, job displacement, economic growth and the change in the required workforce skills.展开更多
Social security is an important social and public policy measure to help address poverty in any contemporary society.The Comprehensive Social Security Assistance(CSSA)system in Hong Kong provides a safety net for thos...Social security is an important social and public policy measure to help address poverty in any contemporary society.The Comprehensive Social Security Assistance(CSSA)system in Hong Kong provides a safety net for those aged children and adults below 65 years old who cannot support themselves financially.It is designed to bring their income up to a prescribed level to meet their basic needs.The rapid increase in social welfare expenditure in the last decade has become a concern to the Hong Kong SAR Government.The overall social welfare expenditure has accounted for nearly 15.6%of government expenditure in 2018,with the total amount increasing from$58 billion to$90 billion(an increase of 72.4%)for the period 2014-2018.However,the amount spent on CSSA only increased from$20.7 billion to$22.3 billion with an increase of 7.7%only for the same period.The much slower magnitude of increase is related to the reduction in the number of CSSA recipients,which decreased from 237,501 to 185,528 over the period.A decomposition method was used to assess the changes in the number of people in the CSSA system.It showed that the rate of arriving into the system has been decreasing due to a robust economy with a very low unemployment rate;whereas moving out of the system has also been decreasing in the past 5 years.This phenomenon can be partly attributed to the widening of the income gap in the community in the period.Despite the increase in population size,as long as employment conditions remain strong and the momentum of leaving the system can be maintained,the number of CSSA recipients will continue to decrease.However,the results also suggested that a certain proportion of CSSA recipients will not be able to move out of the system and have been trapped.Some innovative methods to help them out of CSSA are discussed.In view of the poor economic outlook arising from the COVID-19 pandemic,it is important for the Government to have effective measures to keep people in their jobs.If the unemployment rate will does not substantially increase and then increase of in CSSA recipients can be contained.展开更多
China has improved its social security system in recent decades,with the aim of achieving universal coverage and improving the equity of income distribution.Based on data from the five rounds of Chinese Household Inco...China has improved its social security system in recent decades,with the aim of achieving universal coverage and improving the equity of income distribution.Based on data from the five rounds of Chinese Household Income Project surveys from 1988 to 2018,this paper examines the long-term redistributive effects of social security programs in China.Our results show that social security programs have reduced income inequality consistently,and the positive redistributive effects have been improving for the past 30 years.Social security transfers have had an increasingly essential role in rural areas,especially after 2002 when China started to establish a comprehensive rural social safety net and expanded the coverage of the social security program.The redistributive efficiency of the social security system has also increased recently.展开更多
At its 19th National Congress,the Communist Party of China vowed to“strengthen the financial sector’s ability to serve the real economy.”However,many studies provide evidence of the opposite trend,a problematic“tr...At its 19th National Congress,the Communist Party of China vowed to“strengthen the financial sector’s ability to serve the real economy.”However,many studies provide evidence of the opposite trend,a problematic“transition from the real to the virtual,”among Chinese enterprises.Meanwhile,the investment efficiency of China’s Social Security Fund(SSF),a public fund,attracts much attention.In this context,we use A-share listed companies in China from2009 to 2018 to study the relationship between holding by the SSF and enterprise financialization.We find that SSF holding significantly inhibits financialization and that this effect is non-linear.Mechanism analysis indicates that SSF holding suppresses enterprises’financialization mainly by improving their governance.Moreover,SSF holding more strongly inhibits small-scale(vs.large-scale),state-owned(vs.non-state-owned),and non-eastern(vs.eastern)enterprises in China.Furthermore,SSF holding can alleviate corporate value impairment caused by financialization.The conclusions enrich theoretical research and provide empirical evidence that may help regulatory authorities to guide investment by enterprises and prevent financial risks.展开更多
文摘The occurrence of social security events is uncertain, and the distribution characteristics are highly complex due to a variety of external factors, posing challenges to their rapid and effective handling. The scientific and reasonable requirement evaluation of the emergency force to deal with social security events is very urgent. Based on data analysis, this paper uses the neural network, operational research, modelling and simulation to predict and analyze social security events, studies the usage rule of emergency force and deployment algorithm, and conducts simulation experiments to evaluate and compare the different force deployment schemes for selection.
文摘At present, the emotion classification method of Weibo public opinions based on graph neural network cannot solve the polysemy problem well, and the scale of global graph with fixed weight is too large. This paper proposes a feature fusion network model Bert-TextLevelGCN based on BERT pre-training and improved TextGCN. On the one hand, Bert is introduced to obtain the initial vector input of graph neural network containing rich semantic features. On the other hand, the global graph connection window of traditional TextGCN is reduced to the text level, and the message propagation mechanism of global sharing is applied. Finally, the output vector of BERT and TextLevelGCN is fused by interpolation update method, and a more robust mapping of positive and negative sentiment classification of public opinion text of “Tangshan Barbecue Restaurant beating people” is obtained. In the context of the national anti-gang campaign, it is of great significance to accurately and efficiently analyze the emotional characteristics of public opinion in sudden social violence events with bad social impact, which is of great significance to improve the government’s public opinion warning and response ability to public opinion in sudden social security events. .
文摘Following is an interview by staff reporters of the Human Rights magazine with Zheng Silin, Chinese minister of labor and social security. The interview was meant in part to celebrate the tenth anniversary of the implementation of the Labor Law of the People’s Republic of China that falls on January 1,2005. We are publishing this transcript with a view to providing our readers with information about how China has worked persistently to protect citizens’ right to work and social security and the achievements it has made in this regard. We need to remind our readers of the fact that back in March 2004, the National People’s Congress, China’s highest legislature, approved a recommendation for revision of China’s Constitution. In accordance with the recommendation, the Constitution had one more clause added: The state shall establish and improve a social security system commensurate to the level of the economic and social development.
基金financially supported by the National Social Science Fund of China(16ZDA021)the Humanities and Social Sciences Research Fund of the Ministry of Education of China(18YJA630135)。
文摘Social security has,as one of its primary aims,the provision of financial support to those deemed to be poor or facing the threat of poverty.Based on China's national statistical data covering social insurance,social assistance,and social welfare between the period 1978–2018,this paper evaluates the effect of social security expenditure in reducing income inequality and rural poverty with cointegration analysis.It was found that there is a positive correlation between social security expenditure and the income gap of urban and rural residents in the long run,but the effect is very limited;nearly 99%of the changes of the urban–rural income gap come from its own contributions.Further research also shows that the elasticity of rural poverty incidence to social security expenditure is–0.2255,which indicates social security expenditure helps reduce rural absolute poverty.Based on these findings,the policy implications can be that much social security expenditure and a more equitable social security system should be encouraged.It will become one of the major anti-poverty strategies after 2020 in China when we win the battle against absolute poverty.
基金Supported by Jiangxi Social Sciences Project(08SH035)Key Project of National Social Sciences Fund(08AZD005)
文摘From the situations about the incomes and life quality of the urban and rural residents,the thesis briefly introduces the status quo of the urban-rural income gap and explores the impact of the income gap on social economy:firstly,it hampers economic development;secondly,it is detrimental to the social development.Then the thesis analyzes the role of a sound social security in narrowing urban-rural income gap:at first,it broadens the institutional environment of improving the agricultural efficiency;secondly,it eliminates the uncertainties influencing the farmers' income;thirdly,it improves the farmers' capacity to increase income;at last,it enhances the farmers' consciousness of wealth.Next the thesis inquires into the problems existing in the system of rural social security:the first problem is more obviously fragmented system;the second is inadequate security projects and narrower coverage;the third is an obvious lack of equality in urban and rural security;the fourth is even less sound management system;the last is the lagging of legislation.Afterwards the thesis proposes the countermeasures and suggestions to improve the system of rural social security and narrow urban-rural income gap:firstly,to integrate the social security system in rural areas;secondly,to perfect security projects and enhance the security system;thirdly,to integrate the administrative management of social security;at last,to enforce the legal system.
文摘Social security of migrant workers has been significant in dissolving social contradictions and achieving the economic and social development in China during the transitional period. The researches of domestic scholar on social security of migrant workers can be classified into three categories. Firstly, theoretical analysis on social security of migrant workers, including researches on the appeal of social security and misunderstanding of recognition, theory-construction of rural worker social security, policy defects and equity construction in social security system of migrant workers. Secondly, real studies on social security of migrant workers, including researches on sequence of demand and influencing factors of social security of migrant workers as well as intrinsic motivation forming the perspective on social security. Lastly, road exploration of establishing social security system, including researches on the multi-level development of rural worker social security system, comparison of "Double-low method", "Guangdong Method" and "Shanghai Method" of the social security of migrant workers in Zhejiang Province and establishing multi-level social security system according to the hierarchy after the internal differentiation.
基金This research was funded by the General Program of Natural Science Foundation of Hunan Province,China(2020JJ4503)the Hunan Provincial Innovation Foundation for Postgraduate,China(CX20190878)the Key Program of the Department of Education of Hunan Province,China(19A405).
文摘Clarifying the relationship between social security and economic development is helpful to realize the sustainable social security system and the stable function of sustainable economic development.In this paper,the entropy method,coupling coordination degree,standard deviation ellipse model,and spatial autocorrelation were used to study the spatial-temporal characteristics of coupling coordination of social security and economic development in China from 2002 to 2018.The results indicate that the relationship between social security and economic development in China has been gradually strengthened in the process of mutual adaptation and common development.The benign interaction between the two was unstable,though the coupling coordination degree gradually transitioned to the primary coupling coordination type.Besides,from a spatial perspective,first,the coupling coordination degree of social security and economic development in China contracted in the east-west and north-south directions,and the coupling coordination clustered in the central region in this period;second,the coupling coordination degree generally presented a positive spatial autocorrelation,and regions with similar coupling coordination degrees were in a state of agglomeration;finally,the hot spots clumped together to form a continuous area in the eastern coastal area while the cold spots expanded toward the northwest and northeast.Furthermore,the random distribution areas exhibited a trend of contraction.
基金supported by the Fundamental Research Funds for the Central UniversitiesProgram of Jilin University for Supporting Young Researchers in Philosophy and Social Sciences(Project No.2015FRGG01)Program of Jilin University for Supporting Outstanding Young Teachers
文摘China's reform and opening-up policy,launched in 1978,marks the start of the internationalization process of its social security system.This paper takes the notion of "a community with a shared future" as the perspective to analyze the internationalization of social security in the process of China's reform and opening up.Based on China's developments in globalization,it divides the internationalization process of China's social security from 1978 to 2018 into three stages: the stage of reshaping the domestic social security system with reference to the best international practice; the stage of achieving bilateral or multilateral alignment on the premise of equality and mutual benefit,and the stage of injecting Chinese wisdom in social security into the development of global social security.The trajectory of the development of China's social security internationalization shows the incremental evolution within the country,between nations,and in the world community.This paper studies the internationalization process to show China's grand achievements in the four decades of reform and opening-up and to demonstrate Chinese wisdom and confidence.
文摘China,already possessing a large number of retirees,will become one of the countries with a predominant-ly aged population by the end of the century.A retirement boom is ex-pected for the year 2030,when China will have over 100 million senior citizens living on an annual pension of billions of yuan.There-fore China is working to legislate a Chinese style social insurance system by the year 2000.This system will be independent of enterprises and cov-er workers in both rural and urban areas.It will be reasonable in its.expenditures because its funding will come from a wide range of sources.It will make a balanced and rational use of these funds and will be run by a highly socialized and coordinated administration.
文摘Chinese President Hu Jintao has stressed the need to stabilize commodity prices, extend the coverage of the social security network and boost employment to ensure the country develops in a comprehensive,
文摘This article signals the use of Artificial Intelligence (AI) in information security where its merits, downsides as well as unanticipated negative outcomes are noted. It considers AI based models that can strengthen or undermine infrastructural functions and organize the networks. In addition, the essay delves into AI’s role in Cyber security software development and the need for AI-resilient strategies that could anticipate and thwart AI-created vulnerabilities. The document also touched on the socioeconomic ramifications of the emergence of AI in Cyber security as well. Looking into AI and security literature, the report outlines benefits including made threat detection precision, extended security ops efficiency, and preventive security tasks. At the same time, it emphasizes the positive side of AI, but it also shows potential limitations such as data bias, lack of interpretability, ethical concerns, and security flaws. The work similarly focuses on the characterized of misuse and sophisticated cyberattacks. The research suggests ways to diminish AI-generating maleficence which comprise ethical AI development, robust safety measures and constant audits and updates. With regard to the AI application in Cyber security, there are both pros and cons in terms of socio-economic issues, for example, job displacement, economic growth and the change in the required workforce skills.
文摘Social security is an important social and public policy measure to help address poverty in any contemporary society.The Comprehensive Social Security Assistance(CSSA)system in Hong Kong provides a safety net for those aged children and adults below 65 years old who cannot support themselves financially.It is designed to bring their income up to a prescribed level to meet their basic needs.The rapid increase in social welfare expenditure in the last decade has become a concern to the Hong Kong SAR Government.The overall social welfare expenditure has accounted for nearly 15.6%of government expenditure in 2018,with the total amount increasing from$58 billion to$90 billion(an increase of 72.4%)for the period 2014-2018.However,the amount spent on CSSA only increased from$20.7 billion to$22.3 billion with an increase of 7.7%only for the same period.The much slower magnitude of increase is related to the reduction in the number of CSSA recipients,which decreased from 237,501 to 185,528 over the period.A decomposition method was used to assess the changes in the number of people in the CSSA system.It showed that the rate of arriving into the system has been decreasing due to a robust economy with a very low unemployment rate;whereas moving out of the system has also been decreasing in the past 5 years.This phenomenon can be partly attributed to the widening of the income gap in the community in the period.Despite the increase in population size,as long as employment conditions remain strong and the momentum of leaving the system can be maintained,the number of CSSA recipients will continue to decrease.However,the results also suggested that a certain proportion of CSSA recipients will not be able to move out of the system and have been trapped.Some innovative methods to help them out of CSSA are discussed.In view of the poor economic outlook arising from the COVID-19 pandemic,it is important for the Government to have effective measures to keep people in their jobs.If the unemployment rate will does not substantially increase and then increase of in CSSA recipients can be contained.
基金supported financially by the National Social Science Foundation of China(No.18ZDA080)Humanities and Social Sciences Project from the Ministry of Education of the People’s Republic of China(Nos.17JJD790023 and 20YJC790153)the National Natural Science Foundation of China(No.71703188).
文摘China has improved its social security system in recent decades,with the aim of achieving universal coverage and improving the equity of income distribution.Based on data from the five rounds of Chinese Household Income Project surveys from 1988 to 2018,this paper examines the long-term redistributive effects of social security programs in China.Our results show that social security programs have reduced income inequality consistently,and the positive redistributive effects have been improving for the past 30 years.Social security transfers have had an increasingly essential role in rural areas,especially after 2002 when China started to establish a comprehensive rural social safety net and expanded the coverage of the social security program.The redistributive efficiency of the social security system has also increased recently.
基金financial support from the Ministry of Education Humanities and Social Sciences Research Project(No.15YJC790095)the Natural Science Foundation of China(No.71602022,71872040)the National Social Science Foundation of China(No.18BG1062,19ZDA097)
文摘At its 19th National Congress,the Communist Party of China vowed to“strengthen the financial sector’s ability to serve the real economy.”However,many studies provide evidence of the opposite trend,a problematic“transition from the real to the virtual,”among Chinese enterprises.Meanwhile,the investment efficiency of China’s Social Security Fund(SSF),a public fund,attracts much attention.In this context,we use A-share listed companies in China from2009 to 2018 to study the relationship between holding by the SSF and enterprise financialization.We find that SSF holding significantly inhibits financialization and that this effect is non-linear.Mechanism analysis indicates that SSF holding suppresses enterprises’financialization mainly by improving their governance.Moreover,SSF holding more strongly inhibits small-scale(vs.large-scale),state-owned(vs.non-state-owned),and non-eastern(vs.eastern)enterprises in China.Furthermore,SSF holding can alleviate corporate value impairment caused by financialization.The conclusions enrich theoretical research and provide empirical evidence that may help regulatory authorities to guide investment by enterprises and prevent financial risks.
