With the rapid economic development, the imbalance of China＇s balance of payments gets sever gradually, especially in the continuous increase in the net errors and omissions, which even has exceeded the international...With the rapid economic development, the imbalance of China＇s balance of payments gets sever gradually, especially in the continuous increase in the net errors and omissions, which even has exceeded the international alert line. Such scale of net errors and omissions have also presented the flaws of the custody of capital flows, leading to huge capital escape and hot money influx, which needs our attention.展开更多
Based on the analysis of the factors affecting the migration of moving labor and the explanation of becoming permanent urban residents,this research takes migration mode(migration) as the dependent variable,sex(sex) ,...Based on the analysis of the factors affecting the migration of moving labor and the explanation of becoming permanent urban residents,this research takes migration mode(migration) as the dependent variable,sex(sex) ,age(age) ,monthly income(income) ,education degree(edu) ,working experiences(exp) ,social relation(relation) ,and social security(security) as the independent variables.According to the investigation of China Agricultural University in the year 2009,Logistic Binary Choice Model is used to construct the corresponding econometric model and to measure the effects of influencing factors on the selection of migration mode.Result shows that education degree,personal ability,social relation,and social security are the major influencing factors determining the peasant households becoming permanent urban residents;and human capital and social security construction are of great significance to the improvement of farmers’ income and life quality.展开更多
Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a signi...Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.展开更多
The Chinese government recently announced measures to stimulate venture capital(VC)in an effort to sustain the ongoing entrepreneurial wave,To increase investment in cash-starved startups,China will nurture more VC in...The Chinese government recently announced measures to stimulate venture capital(VC)in an effort to sustain the ongoing entrepreneurial wave,To increase investment in cash-starved startups,China will nurture more VC investors,strengthen policy support,展开更多
文摘With the rapid economic development, the imbalance of China＇s balance of payments gets sever gradually, especially in the continuous increase in the net errors and omissions, which even has exceeded the international alert line. Such scale of net errors and omissions have also presented the flaws of the custody of capital flows, leading to huge capital escape and hot money influx, which needs our attention.
基金Supported by the 2009 National Undergraduate Innovating Experimentation Program by the Ministry of Education (091001964)
文摘Based on the analysis of the factors affecting the migration of moving labor and the explanation of becoming permanent urban residents,this research takes migration mode(migration) as the dependent variable,sex(sex) ,age(age) ,monthly income(income) ,education degree(edu) ,working experiences(exp) ,social relation(relation) ,and social security(security) as the independent variables.According to the investigation of China Agricultural University in the year 2009,Logistic Binary Choice Model is used to construct the corresponding econometric model and to measure the effects of influencing factors on the selection of migration mode.Result shows that education degree,personal ability,social relation,and social security are the major influencing factors determining the peasant households becoming permanent urban residents;and human capital and social security construction are of great significance to the improvement of farmers’ income and life quality.
文摘Under the dual pressures of energy crisis and environmental pollution,China’s new energy power industry has become a focal point for environmental management and requires greater investment.In this context,as a significant input of investment projects,discount rate requires a well-calibrated evaluation because new energy power investment projects are highly capital intensive.The main objective of this paper is to evaluate the discount rate of China’s new energy power industry.First,we use Moving Average to correct the parameters of capital asset pricing model(CAPM)and weighted average cost of capital,which extends the literature on the avoidance of CAPM noise information problem.Second,we study the industry-level annual discount rates of mainly China’s new energy power industries,including hydropower,nuclear power,wind power,and photovoltaic power industries for the period of 2014-2019.The results show that discount rates in China’s new energy power industries evolved differently between the years of 2014-2019 with average annual discount rates being 7.56%,5.83%,5.60%,and 8.64%,for the hydropower,nuclear power,wind power,and photovoltaic power industries,respectively.In 2019,the four annual discount rates were highest for the photovoltaic power industry(8.66%),followed by hydropower(7.17%),wind power(5.72%),and nuclear power industry(5.26%).Forecasting to 2020 from the 2019 evaluation base period,the discount rates are 6.37%,5.00%,6.57%,and 9.05%for the photovoltaic power,hydropower,wind power,and nuclear power industries,respectively.Under the different capital structures,their forecasts for the photovoltaic power,hydropower,wind power,and nuclear power industries in 2020 are,respectively,within[4.35%,9.24%],[3.92%,7.10%],[4.58%,10.40%],[5.46%,14.81%].We also discussed more details on capital structure and forecast period of discount rates for China’s new energy power industries.Our analysis shows that it is necessary to establish a new energy power industry database and steadily promote the implementation of policies.
文摘The Chinese government recently announced measures to stimulate venture capital(VC)in an effort to sustain the ongoing entrepreneurial wave,To increase investment in cash-starved startups,China will nurture more VC investors,strengthen policy support,
