The optimization of government subsidies to enhance the efficiency of coal companies’green transformation constitutes a critical component in the pursuit of global sustainability.We investigate the influence mechanis...The optimization of government subsidies to enhance the efficiency of coal companies’green transformation constitutes a critical component in the pursuit of global sustainability.We investigate the influence mechanism of government subsidies on the green transformation using data from the listed coal companies in China from 2007 to 2022.According to our findings and hypothesis testing,previous government subsidies did not have a significant direct impact on coal companies’green transformation.Nevertheless,government subsidies can help coal companies transition to greener practices by promoting innovative green initiatives.Furthermore,we confirmed an indirect route:that government subsidies enable the adoption of low-carbon initiatives,which in turn could facilitate the transition of coal companies towards green practices.In addition,we discovered that the coal company’s digitization will improve this indirect route.Thus,we propose increasing the effectiveness of government subsidies in facilitating coal companies’transition to green practices by focusing on technological advancements and enhancing company digitalization.展开更多
The concept of corporate social responsibility was origined in the United States in the early 1990 s. This theory is put forward,and quickly caused the widespread attention of various disciplines. With the transition ...The concept of corporate social responsibility was origined in the United States in the early 1990 s. This theory is put forward,and quickly caused the widespread attention of various disciplines. With the transition of the planned economy to marketeconomy in our country, most of the enterprises in China will still refuse to take care of the social responsibility and a series ofproblems become the biggest contradiction in China's economic development and social development. So it is necessary forChina to slove these problems.展开更多
With the rise of coal price, the proportion of loss-making enterprises shows an upward trend in China's coal industry. This paper uses Altman Z-Score model to measure financial risk of 19 listed companies in the coal...With the rise of coal price, the proportion of loss-making enterprises shows an upward trend in China's coal industry. This paper uses Altman Z-Score model to measure financial risk of 19 listed companies in the coal industry in A-share market from 1995 to 2007. Empirical results show that Year-Based price index of coal price has a negative correlation with the financial risk but has no significance, and coal chain price has a significant negative correlation with the financial risk. Further research indicates that enterprises increase bad investment, and a lot of debts caused by short-term rise in coal prices. The results also show that the financial risk in the coal industry declines with the rise of GDP growth rate and increases with the rise of inflation rate.展开更多
Zhunger Coal Mine, located in InnerMongolia, covers an area of 1,365 sqkm, with a deposit of 26.8 billion tonsof coal. The coal-bearing stratum averages32 m. The coal is classified as long-flame,thermal coal with high...Zhunger Coal Mine, located in InnerMongolia, covers an area of 1,365 sqkm, with a deposit of 26.8 billion tonsof coal. The coal-bearing stratum averages32 m. The coal is classified as long-flame,thermal coal with high quality and展开更多
The reform core of state-owned enterprises is to develop mixed-ownership’s economy effectively,therefore there are so many large-and medium-sized state-owned enterprises using a variety of resources,adopting various ...The reform core of state-owned enterprises is to develop mixed-ownership’s economy effectively,therefore there are so many large-and medium-sized state-owned enterprises using a variety of resources,adopting various ways to realize mixed-ownership reforms,enriching the theories of mixed-ownership reform,and creating a large number of practical samples.Wuliangye Company,as a very famous making liquor company in China,has issued a large of new stocks to excellent dealers,administrative staffs,and outstanding employees,so that the company can draw into massive private capital in 2016,so Wuliangye Company have made the first step about mixed-ownership reform among Chinese state-owned enterprises.Through comparing the quantity of monetary capital and asset-liability ratio of Wuliangye Company before and after directional issuing new stocks,the distrust about only adding money and welfare tool for relative benefit people can be eliminated.Moreover,the affection of directional issuing new stocks can promote Wuliangye Company dealers and employees to hold shareholdings,and optimize ownership structure.Wuliangye Company has got the exploration for optimizing equity structure to solid foundation for speeding up stated-owned enterprises reform paces,also providing some useful experiences of other mixed-ownership reform,and the ways and patterns are worthy of learning and studying.展开更多
The paper analyzed the development and features of China's oil companies' overseas business in 2016.Despite the plummeting crude price and a weak global economy,these companies managed to do well in foreign co...The paper analyzed the development and features of China's oil companies' overseas business in 2016.Despite the plummeting crude price and a weak global economy,these companies managed to do well in foreign countries.They steadily increased their shares of oil and gas in overseas oil and gas projects with their distinctive and unique ways:the three state-owned oil companies had focused on the countries involved in the One-BeltOne-Road Initiative,and others had been stressed more on international cooperation in a broader sense and areas.The small-and middle-scale companies had been matured and grew during the process.The central and local governments also played indispensable roles by providing need support for the cooperations.展开更多
Usingfirm-level data for China "s state-owned coal mines, this paper examines the impact of privatization, corporatization and debt restructuring of state-owned enterprises on technical efficiency. A stochastic front...Usingfirm-level data for China "s state-owned coal mines, this paper examines the impact of privatization, corporatization and debt restructuring of state-owned enterprises on technical efficiency. A stochastic frontier production method is applied to a panel dataset from 2000 to 2007. The simultaneous study of these three measures makes it possible to study individual effects more precisely than otherwise. The study shows that the three reform initiatives are all able to improve technical efficiency in state-owned coal mines. The finding of a significant efficiency improvement from relinquishing state ownership provides an alternative to privatization. The study of debt restructuring and technical efficiency has not been documented in the published literature.展开更多
基金supported by the China National Natural Sciences Fund Project(Nos.71874190 and 72403233)Jiangsu Provincial Department of Science and Technology Program(Innovation Support Program Soft Science Research)(No.BR2023016-4)+2 种基金China Postdoctoral Science Foundation(No.2024M753503)Key Projects Funded by Jiangsu Social Science Fund(No.21GLA003)The Ministry of Education of Humanities and Social Science Project.
文摘The optimization of government subsidies to enhance the efficiency of coal companies’green transformation constitutes a critical component in the pursuit of global sustainability.We investigate the influence mechanism of government subsidies on the green transformation using data from the listed coal companies in China from 2007 to 2022.According to our findings and hypothesis testing,previous government subsidies did not have a significant direct impact on coal companies’green transformation.Nevertheless,government subsidies can help coal companies transition to greener practices by promoting innovative green initiatives.Furthermore,we confirmed an indirect route:that government subsidies enable the adoption of low-carbon initiatives,which in turn could facilitate the transition of coal companies towards green practices.In addition,we discovered that the coal company’s digitization will improve this indirect route.Thus,we propose increasing the effectiveness of government subsidies in facilitating coal companies’transition to green practices by focusing on technological advancements and enhancing company digitalization.
文摘The concept of corporate social responsibility was origined in the United States in the early 1990 s. This theory is put forward,and quickly caused the widespread attention of various disciplines. With the transition of the planned economy to marketeconomy in our country, most of the enterprises in China will still refuse to take care of the social responsibility and a series ofproblems become the biggest contradiction in China's economic development and social development. So it is necessary forChina to slove these problems.
文摘With the rise of coal price, the proportion of loss-making enterprises shows an upward trend in China's coal industry. This paper uses Altman Z-Score model to measure financial risk of 19 listed companies in the coal industry in A-share market from 1995 to 2007. Empirical results show that Year-Based price index of coal price has a negative correlation with the financial risk but has no significance, and coal chain price has a significant negative correlation with the financial risk. Further research indicates that enterprises increase bad investment, and a lot of debts caused by short-term rise in coal prices. The results also show that the financial risk in the coal industry declines with the rise of GDP growth rate and increases with the rise of inflation rate.
文摘Zhunger Coal Mine, located in InnerMongolia, covers an area of 1,365 sqkm, with a deposit of 26.8 billion tonsof coal. The coal-bearing stratum averages32 m. The coal is classified as long-flame,thermal coal with high quality and
基金the SWUPL foundation(2015XZZD-04)Chongqing Social Science Foundation(2016YBGL118).
文摘The reform core of state-owned enterprises is to develop mixed-ownership’s economy effectively,therefore there are so many large-and medium-sized state-owned enterprises using a variety of resources,adopting various ways to realize mixed-ownership reforms,enriching the theories of mixed-ownership reform,and creating a large number of practical samples.Wuliangye Company,as a very famous making liquor company in China,has issued a large of new stocks to excellent dealers,administrative staffs,and outstanding employees,so that the company can draw into massive private capital in 2016,so Wuliangye Company have made the first step about mixed-ownership reform among Chinese state-owned enterprises.Through comparing the quantity of monetary capital and asset-liability ratio of Wuliangye Company before and after directional issuing new stocks,the distrust about only adding money and welfare tool for relative benefit people can be eliminated.Moreover,the affection of directional issuing new stocks can promote Wuliangye Company dealers and employees to hold shareholdings,and optimize ownership structure.Wuliangye Company has got the exploration for optimizing equity structure to solid foundation for speeding up stated-owned enterprises reform paces,also providing some useful experiences of other mixed-ownership reform,and the ways and patterns are worthy of learning and studying.
文摘The paper analyzed the development and features of China's oil companies' overseas business in 2016.Despite the plummeting crude price and a weak global economy,these companies managed to do well in foreign countries.They steadily increased their shares of oil and gas in overseas oil and gas projects with their distinctive and unique ways:the three state-owned oil companies had focused on the countries involved in the One-BeltOne-Road Initiative,and others had been stressed more on international cooperation in a broader sense and areas.The small-and middle-scale companies had been matured and grew during the process.The central and local governments also played indispensable roles by providing need support for the cooperations.
文摘Usingfirm-level data for China "s state-owned coal mines, this paper examines the impact of privatization, corporatization and debt restructuring of state-owned enterprises on technical efficiency. A stochastic frontier production method is applied to a panel dataset from 2000 to 2007. The simultaneous study of these three measures makes it possible to study individual effects more precisely than otherwise. The study shows that the three reform initiatives are all able to improve technical efficiency in state-owned coal mines. The finding of a significant efficiency improvement from relinquishing state ownership provides an alternative to privatization. The study of debt restructuring and technical efficiency has not been documented in the published literature.