Despite the intention of minimum wage policy to maintain the living standards of low-income groups in the formal sector, this paper has found that the actual result of this policy produces the ＂big push＂ impact on C...Despite the intention of minimum wage policy to maintain the living standards of low-income groups in the formal sector, this paper has found that the actual result of this policy produces the ＂big push＂ impact on China＇s economy under certain conditions, i.e. it is conducive to achieving the equilibrium of high wage, high consumption and formalization. The result shows that the elasticity of income growth from raising the minimum wage standard is greater for formal sector employees than for informal sector employees and is characterized by a U-shaped pattern in terms of quantiles. Thus, minimum wage hikes have widened wage gaps between and within sectors. Rising minimum wage standards greatly stimulate consumption with each 10% increase expected to bring about an additional urban household consumption of about 1.167 billion yuan in the surveyed four provinces. With local minimum wage hikes, the formal sector of wholesale and retail, hotel and catering services expands and the informal sector contracts, while the real estate sector experiences a ＂reverse formalization＂ trend. Based on the ＂big push theory＂, this paper concludes that against the backdrop of extensive, frequent and substantial minimum wage hikes, demand and sector TFP growth are the major causes of sector heterogeneity.展开更多
Entrepreneurship has become an attribute of the current growth without business activities. Entrepreneurship is a global world. It is not possible to think about economic driving force of technological development and...Entrepreneurship has become an attribute of the current growth without business activities. Entrepreneurship is a global world. It is not possible to think about economic driving force of technological development and scientific research. It materializes knowledge and involvement of people and society. Expansion of business activities is a source of individual country＇s economic performance. It contributes to the development of people＇s living standards. In every market economy, it represents an irreplaceable role for small and medium-sized enterprises （SMEs）. A strong representation of＂micro-enterprises＂ can be found in the field of personal services. Companies within the course of their existence go through particular stages of their development--from their foundation through the stage of steady development. After this stage, there comes their decline that can develop even into their termination. We indicate this process as a company life cycle. The aim of the submitted project is to map the life cycle of particularly chosen companies providing accommodation and catering services and to find a mutual relation among observed quantities and their stable economic positions in the market. The analysis is based on the data of macro-economic character, the data about development of receipts in the sector, development of inflation, tempo of economic growth, and development of consumer prices. Out of a company, non-financial factors will also be considered. The core of the analysis is the stage of sustainable stability of the assessed companies. The point of the findings is revelation of the causes of risks of possible transition into the stage of termination due to the decline of services volume, decline of profitability, and long-lasting payment insolvency. The contribution of the project is to draw our attention to possible risks of critical situation development and to propose how to avoid them so that the company will not occur in financial straits. Achieved information could assist the company management to make relevant decisions.展开更多
Achieving competitiveness by a company requires the rejection of conservatism and immobility, or its constant adaptation to market conditions and consumer demands. This paper has proposed assessing the quality of food...Achieving competitiveness by a company requires the rejection of conservatism and immobility, or its constant adaptation to market conditions and consumer demands. This paper has proposed assessing the quality of food services in the President Restaurant performed by applying Servqual instrument designed on the basis of customer＇s expectations and perceptions on analyzed components. Over 70% of respondents have a favorable perception on the quality of services. However you can see a slight difference between perceptions and expectations regarding the serving speed, waiter＇s professionalism, hygiene of room service and inventory objects, the reason being related to the lack of staff.展开更多
基金Major project of National Social Sciences Foundation"Characteristics and Policy Orientation Research on the New Normal of China's Economic Growth"(Grant No.15ZDA008)Major project of National Natural Sciences Foundation"Research on the Mechanism and Policy of Promoting Industrial Upgrade in Economic Developed Regions"(Grant No.71333002)
文摘Despite the intention of minimum wage policy to maintain the living standards of low-income groups in the formal sector, this paper has found that the actual result of this policy produces the ＂big push＂ impact on China＇s economy under certain conditions, i.e. it is conducive to achieving the equilibrium of high wage, high consumption and formalization. The result shows that the elasticity of income growth from raising the minimum wage standard is greater for formal sector employees than for informal sector employees and is characterized by a U-shaped pattern in terms of quantiles. Thus, minimum wage hikes have widened wage gaps between and within sectors. Rising minimum wage standards greatly stimulate consumption with each 10% increase expected to bring about an additional urban household consumption of about 1.167 billion yuan in the surveyed four provinces. With local minimum wage hikes, the formal sector of wholesale and retail, hotel and catering services expands and the informal sector contracts, while the real estate sector experiences a ＂reverse formalization＂ trend. Based on the ＂big push theory＂, this paper concludes that against the backdrop of extensive, frequent and substantial minimum wage hikes, demand and sector TFP growth are the major causes of sector heterogeneity.
文摘Entrepreneurship has become an attribute of the current growth without business activities. Entrepreneurship is a global world. It is not possible to think about economic driving force of technological development and scientific research. It materializes knowledge and involvement of people and society. Expansion of business activities is a source of individual country＇s economic performance. It contributes to the development of people＇s living standards. In every market economy, it represents an irreplaceable role for small and medium-sized enterprises （SMEs）. A strong representation of＂micro-enterprises＂ can be found in the field of personal services. Companies within the course of their existence go through particular stages of their development--from their foundation through the stage of steady development. After this stage, there comes their decline that can develop even into their termination. We indicate this process as a company life cycle. The aim of the submitted project is to map the life cycle of particularly chosen companies providing accommodation and catering services and to find a mutual relation among observed quantities and their stable economic positions in the market. The analysis is based on the data of macro-economic character, the data about development of receipts in the sector, development of inflation, tempo of economic growth, and development of consumer prices. Out of a company, non-financial factors will also be considered. The core of the analysis is the stage of sustainable stability of the assessed companies. The point of the findings is revelation of the causes of risks of possible transition into the stage of termination due to the decline of services volume, decline of profitability, and long-lasting payment insolvency. The contribution of the project is to draw our attention to possible risks of critical situation development and to propose how to avoid them so that the company will not occur in financial straits. Achieved information could assist the company management to make relevant decisions.
文摘Achieving competitiveness by a company requires the rejection of conservatism and immobility, or its constant adaptation to market conditions and consumer demands. This paper has proposed assessing the quality of food services in the President Restaurant performed by applying Servqual instrument designed on the basis of customer＇s expectations and perceptions on analyzed components. Over 70% of respondents have a favorable perception on the quality of services. However you can see a slight difference between perceptions and expectations regarding the serving speed, waiter＇s professionalism, hygiene of room service and inventory objects, the reason being related to the lack of staff.
