Limited by the condition of information, technology and natural elements, the compulsive institutions in the environment governance can not form a “hard constraint” to the individuals. Because of the individual'...Limited by the condition of information, technology and natural elements, the compulsive institutions in the environment governance can not form a “hard constraint” to the individuals. Because of the individual's speculative behaviors, the government's deviation from its environmental governance, and the non-cooperative game between individuals and the legal organization, the implementation of the compulsive institutions is not as good as being expected. Through analyzing the mechanism of the compulsive institutions, this paper puts forward some suggestions to enhance the efficiency of such institutions' implementation.展开更多
Employment is fundamental in improving the livelihood of the people and social security is the source ofhuman happiness. This is how the international community protects and improves basic human rights. It is also the...Employment is fundamental in improving the livelihood of the people and social security is the source ofhuman happiness. This is how the international community protects and improves basic human rights. It is also the policy China has adopted to achieve sustainable economic and social development. Furthermore, it is clear evidence of China＇s respect and protection of human rights.展开更多
The Cold and Arid Regions Environmental andEngineering Research Institute(CAREERI) wascreated in June 1999 as a result of the current PilotRroject of the Knowledge Innovation Program of theChinse Academy of Sciences (...The Cold and Arid Regions Environmental andEngineering Research Institute(CAREERI) wascreated in June 1999 as a result of the current PilotRroject of the Knowledge Innovation Program of theChinse Academy of Sciences (CAS). Formed onthe basis of three former CAS institutes,namely, theLanzhou Institute of Glaciology and Geocryology,the Lanzhou Institute of Desert Studies, and展开更多
The Institute of Environmental Health and Engineering,consisting of the previousDepartment of Environmental Health and the Department of Sanitary andEnvironmental Engineering of the Institute of Health founded in 1954...The Institute of Environmental Health and Engineering,consisting of the previousDepartment of Environmental Health and the Department of Sanitary andEnvironmental Engineering of the Institute of Health founded in 1954,was establishedin1986.This Institute has around 220 staff in total and 11 departments,namely,theDepartment of Environmental Epidemiology;Department of EnvironmentalChemistry;Department of Environmental Toxicology;Department of EnvironmentalMicrobiology;Department of Soil Hygiene;Department of Water Treatment;展开更多
Using a sample of 1486 Chinese A-share listed companies for the period 2004-2008,this study empirically tests the impact of family control,institutional environment and their interaction on the cash dividend policy of...Using a sample of 1486 Chinese A-share listed companies for the period 2004-2008,this study empirically tests the impact of family control,institutional environment and their interaction on the cash dividend policy of listed companies.Our results indicate that(1)family firms have a lower cash dividend payout ratio and propensity to pay dividends than non-family firms;(2) a favorable regional institutional environment has a significant positive impact on the cash dividend payout ratio and propensity to pay dividends of listed companies;and(3) the impact of the regional institutional environment on cash dividends is stronger in family firms than in non-family firms.Somewhat surprisingly,we find that controlling family shareholders in China may intensify Agency Problem Ⅰ(the owner-manager conflict) rather than Agency Problem Ⅱ(the controlling shareholder-minority shareholder conflict),and thus have a significant negative impact on cash dividend policy.In contrast,a favorable regional institutional environment plays a positive corporate governance role in mitigating Agency Problem 1 and encouraging family firms to pay cash dividends.展开更多
Corporate environmental investment helps improve corporate environmental performance,which,therefore,is an effective micro-level solution to mitigate environmental concerns generated by corporate excessive resource ex...Corporate environmental investment helps improve corporate environmental performance,which,therefore,is an effective micro-level solution to mitigate environmental concerns generated by corporate excessive resource exploitation and energy use.Using Chinese listed firms within environment-related industries over the period 2011–2018 as the research setting,this study applies the panel data model to investigate the impact of corporate innovation on environmental investment,as well as the moderating effects of institutional factors.The results show that corporate innovation significantly improves firms'environmental investment with 1%Research&Development(R&D)investment ratio increase generating 2326 CNY(around 351 USD at 2018 exchange rate)increase in environmental investment;the moderating effect of environment policy is positive and significant while the moderating effect of internationalisation level is not significant,indicating that current environment policy implementation helps to strengthen the positive impact of corporate innovation on environmental investment while the role of internationalisation level in this nexus is not observed.From a micro-level perspective,the findings of this study shed light on mitigating environmental concerns through enhancing corporate innovation,and provide evidence that China's corporate internationalisation process awaits more regulatory controls.展开更多
Using a sample of China’s A-share listed companies for the period 2001-2004,this paper investigates the influence of institutional environment variables,including the process of marketization,level of local governmen...Using a sample of China’s A-share listed companies for the period 2001-2004,this paper investigates the influence of institutional environment variables,including the process of marketization,level of local government intervention,and local legal environment,on blockholder characteristics and ownership concentration,and the relation between the endogeneity of ownership structure and institutional environment.Our results indicate that the effects of these variables on ownership concentration are(1)positive for listed companies controlled by state asset management bureaus affiliated with local governments,(2)negative for listed companies controlled by state-owned enterprises affiliated with local governments and(3)unclear for listed private companies.These variables also positively affect the degree of privatization of listed companies in China.展开更多
基金Supported by the National Scientific Technology Project(No.2002BA901A43).
文摘Limited by the condition of information, technology and natural elements, the compulsive institutions in the environment governance can not form a “hard constraint” to the individuals. Because of the individual's speculative behaviors, the government's deviation from its environmental governance, and the non-cooperative game between individuals and the legal organization, the implementation of the compulsive institutions is not as good as being expected. Through analyzing the mechanism of the compulsive institutions, this paper puts forward some suggestions to enhance the efficiency of such institutions' implementation.
文摘Employment is fundamental in improving the livelihood of the people and social security is the source ofhuman happiness. This is how the international community protects and improves basic human rights. It is also the policy China has adopted to achieve sustainable economic and social development. Furthermore, it is clear evidence of China＇s respect and protection of human rights.
文摘The Cold and Arid Regions Environmental andEngineering Research Institute(CAREERI) wascreated in June 1999 as a result of the current PilotRroject of the Knowledge Innovation Program of theChinse Academy of Sciences (CAS). Formed onthe basis of three former CAS institutes,namely, theLanzhou Institute of Glaciology and Geocryology,the Lanzhou Institute of Desert Studies, and
文摘The Institute of Environmental Health and Engineering,consisting of the previousDepartment of Environmental Health and the Department of Sanitary andEnvironmental Engineering of the Institute of Health founded in 1954,was establishedin1986.This Institute has around 220 staff in total and 11 departments,namely,theDepartment of Environmental Epidemiology;Department of EnvironmentalChemistry;Department of Environmental Toxicology;Department of EnvironmentalMicrobiology;Department of Soil Hygiene;Department of Water Treatment;
基金supported by the Program for New Century Excellent Talent at University(Grant No.NCET-06-0565)the Foundation of the Key Research Institution of Humanities and Social Science at University(Grant No.07JJD630009)of the Ministry of Education of Chinathe National Nature Science Foundation of China(Grant No.G0205-70572092)
文摘Using a sample of 1486 Chinese A-share listed companies for the period 2004-2008,this study empirically tests the impact of family control,institutional environment and their interaction on the cash dividend policy of listed companies.Our results indicate that(1)family firms have a lower cash dividend payout ratio and propensity to pay dividends than non-family firms;(2) a favorable regional institutional environment has a significant positive impact on the cash dividend payout ratio and propensity to pay dividends of listed companies;and(3) the impact of the regional institutional environment on cash dividends is stronger in family firms than in non-family firms.Somewhat surprisingly,we find that controlling family shareholders in China may intensify Agency Problem Ⅰ(the owner-manager conflict) rather than Agency Problem Ⅱ(the controlling shareholder-minority shareholder conflict),and thus have a significant negative impact on cash dividend policy.In contrast,a favorable regional institutional environment plays a positive corporate governance role in mitigating Agency Problem 1 and encouraging family firms to pay cash dividends.
基金This work is supported by the Social Science Planning Foundation of Shandong Province(19CDNJ26)the National Statistical Science Foundation of Key Projects of China(2018LZ10)Youth Innovation Program of Shandong Province(2019REW021).
文摘Corporate environmental investment helps improve corporate environmental performance,which,therefore,is an effective micro-level solution to mitigate environmental concerns generated by corporate excessive resource exploitation and energy use.Using Chinese listed firms within environment-related industries over the period 2011–2018 as the research setting,this study applies the panel data model to investigate the impact of corporate innovation on environmental investment,as well as the moderating effects of institutional factors.The results show that corporate innovation significantly improves firms'environmental investment with 1%Research&Development(R&D)investment ratio increase generating 2326 CNY(around 351 USD at 2018 exchange rate)increase in environmental investment;the moderating effect of environment policy is positive and significant while the moderating effect of internationalisation level is not significant,indicating that current environment policy implementation helps to strengthen the positive impact of corporate innovation on environmental investment while the role of internationalisation level in this nexus is not observed.From a micro-level perspective,the findings of this study shed light on mitigating environmental concerns through enhancing corporate innovation,and provide evidence that China's corporate internationalisation process awaits more regulatory controls.
基金funded by grants from Key Projects of Key Research Institute of Humanities and Social Science of Ministry of Education(2009JJD790040)the National Social Science Foundation of China(No07CJY010)
文摘Using a sample of China’s A-share listed companies for the period 2001-2004,this paper investigates the influence of institutional environment variables,including the process of marketization,level of local government intervention,and local legal environment,on blockholder characteristics and ownership concentration,and the relation between the endogeneity of ownership structure and institutional environment.Our results indicate that the effects of these variables on ownership concentration are(1)positive for listed companies controlled by state asset management bureaus affiliated with local governments,(2)negative for listed companies controlled by state-owned enterprises affiliated with local governments and(3)unclear for listed private companies.These variables also positively affect the degree of privatization of listed companies in China.
