The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking thro...The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking through the requirements on the resources varieties, exploration phase and enterprise qual!fication. The right of importing and using of the crude oil has been gradually relaxed and 13 local refineries have obtained the right to use imported crude oil of 55.1888 million tons per year. The natural gas price for non-residential use was unified and a universal price was set ~r the incremental supply and existing supply. Tire Shanghai Petroleum and Gas Exchange （SHPGX） was established and laid foundation for the market mechanism to detervnine the price. The government governance has undergone continuous adjustments such as regulating the tax instead of charging the fees, streamlining administration and delegating power to tire lower levels.The Guidelines on Deepening tire Reform of State-owned Enterprises was released, symbolizing the accomplishment of the overall planning ~ the SOE reform.展开更多
Using the data of China's listed companies during 2010-2014 as samples, this paper employs the PSM and DID methods to respectively investigate the effects of BTto-VAT reform on the turnover tax burden for companie...Using the data of China's listed companies during 2010-2014 as samples, this paper employs the PSM and DID methods to respectively investigate the effects of BTto-VAT reform on the turnover tax burden for companies in pilot regions(Shanghai and eight other provinces and municipalities) and the rest of China. Our study arrived at the following findings: Compared with pilot sectors in non-pilot regions, BT-to-VAT reform has no significant effect on the turnover tax burden of pilot companies in pilot regions; compared with non-pilot companies, BT-to-VAT reform slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden for pilot companies in the long run. Further differentiation of ownership nature led to the discovery that BT-toVAT reform somewhat reduced the turnover tax burden of SOEs and central SOEs, slightly increased the turnover tax burden for non-SOEs and local SOEs in pilot regions, slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden in the long run after nationwide pilot programs were introduced; BT-to-VAT reform has more significant effects on non-SOEs and local SOEs. In general, BT-to-VAT reform has no significant effects on the turnover tax burden of companies and after differentiating pilot regions, pilot sectors and ownership nature, we did not discover any significant effect, which is generally consistent with policy expectations.展开更多
Using CHIP （Chinese Household Income Project Survey） data and the sample selection bias corrected wage function model, this paper estimated changes in wage structure in China by ownership types （SOEs, COEs, FEs, an...Using CHIP （Chinese Household Income Project Survey） data and the sample selection bias corrected wage function model, this paper estimated changes in wage structure in China by ownership types （SOEs, COEs, FEs, and PEs） in 1995 and 2007. The major conclusions are as follows. First, effects of education on wage levels in SOEs and FEs become greater, while education effects decrease in SOEs and PEs under economic transition periods; firm-specific human capital becomes more important in the wage determination mechanism along with market-oriented reforms in SOEs, PEs, and FEs; age effect decreases in SOEs and COEs, but it becomes greater in PEs and FEs. Second, there exist wage structure differences between sectors by wage distributions. For example, in 2007, in SOEs, education return rates are higher for the low-wage and middle-wage groups, and the effect is the highest at the 40th percentile. However in COEs and FEs, education return rates are higher for the high-wage groups, and the effect is the highest at the 70th percentile in COEs and at the 70th percentile in FEs. Tenure effects are greater in the middle-wage groups （40th-80th） in SOEs, COEs, and FEs, and age effects are greater in the low-wage groups （5th-30th） in SOEs, FEs, and PEs.展开更多
With the implementation of the CPC＇s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm performance for SOEs and private firms respectivel...With the implementation of the CPC＇s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm performance for SOEs and private firms respectively. Our empirical research has found that after the release of the ＂eight-point regulation ＂, investors responded negatively to private frms and positively to SOEs. Such market response is more significant for firms with a high degree of rent-seeking. Further research has found that rent-seeking helps both SOEs and private firms receive more subsidies from the government. While government subsidy from rent-seeking is conducive to the performance of private firms, it is not the case for SOEs. This implies that rent-seeking activities serve as a ＂lubricant＇for private firms but have a ＂stumbling block＂ effect for SOEs.展开更多
In this paper, we analyzed the status of human resource management practices in western China state-owned and state holding enterprises azld private enterprises, and found that there are differences in the nature of t...In this paper, we analyzed the status of human resource management practices in western China state-owned and state holding enterprises azld private enterprises, and found that there are differences in the nature of the business combination of different patterns of human resource management practices.展开更多
In search of private equity investment opportunities in China, one would be astonished by the rise of raw private entrepreneurship in this largest emerging market economy in the world. The country is experiencing a tr...In search of private equity investment opportunities in China, one would be astonished by the rise of raw private entrepreneurship in this largest emerging market economy in the world. The country is experiencing a transition from a planned, socialist economy to a market or mixed economy. The emergence of a significant private sector is one of the most important developments of the market-oriented reforms in China over the last quarter of a century. It is true that the transformation of public ownership into private ownership indeed gave a rise to the new private enterprises. Nevertheless, there is also an origination process of genuine private enterprises parallel to this privatization approach. In this paper, the concept of raw entrepreneurship is introduced to distinguish new, green-field private firms from the rest of the private sector that has emerged from older firms that have been converted from SOEs （state-owned enterprises） or COEs （collectively-owned enterprises）. It is also a concept that stresses the highly innovative manner in which private firms have emerged in China. This paper will explore deeply the concept of raw entrepreneurship through three case studies as well as theoretical analysis based on traditional wisdom.展开更多
NEWLY APPOINTED SOE SUPERVISORXiao Yaqing was appointed head of the State-owned Assets Supervision and Administration Commission of the State Council(SASAC)on February 1.Before the appointment,he worked as deputy secr...NEWLY APPOINTED SOE SUPERVISORXiao Yaqing was appointed head of the State-owned Assets Supervision and Administration Commission of the State Council(SASAC)on February 1.Before the appointment,he worked as deputy secretary general of the State Council.展开更多
文摘The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking through the requirements on the resources varieties, exploration phase and enterprise qual!fication. The right of importing and using of the crude oil has been gradually relaxed and 13 local refineries have obtained the right to use imported crude oil of 55.1888 million tons per year. The natural gas price for non-residential use was unified and a universal price was set ~r the incremental supply and existing supply. Tire Shanghai Petroleum and Gas Exchange （SHPGX） was established and laid foundation for the market mechanism to detervnine the price. The government governance has undergone continuous adjustments such as regulating the tax instead of charging the fees, streamlining administration and delegating power to tire lower levels.The Guidelines on Deepening tire Reform of State-owned Enterprises was released, symbolizing the accomplishment of the overall planning ~ the SOE reform.
基金National Accounting Research Key Project of the Ministry of Finance"A study on the Supervision and Governance Functions,Implementing Pathway and Promotion Mechanism of Audits(Grant No.2015KJA017)"General Project of Hunan Provincial Foundation for Philosophical,Social and Scientific Research"Study on the Supervision and Governance Functions of Audits in the New Normal"(Grant No.l5YBA079)Social Sciences Foundation of China(SSFC)"A study on the Supervision of Asset Mispricing,the Mitigation of Systematic Financial Risks and Dynamic Supervision"(Grant No.l6BGL050)
文摘Using the data of China's listed companies during 2010-2014 as samples, this paper employs the PSM and DID methods to respectively investigate the effects of BTto-VAT reform on the turnover tax burden for companies in pilot regions(Shanghai and eight other provinces and municipalities) and the rest of China. Our study arrived at the following findings: Compared with pilot sectors in non-pilot regions, BT-to-VAT reform has no significant effect on the turnover tax burden of pilot companies in pilot regions; compared with non-pilot companies, BT-to-VAT reform slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden for pilot companies in the long run. Further differentiation of ownership nature led to the discovery that BT-toVAT reform somewhat reduced the turnover tax burden of SOEs and central SOEs, slightly increased the turnover tax burden for non-SOEs and local SOEs in pilot regions, slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden in the long run after nationwide pilot programs were introduced; BT-to-VAT reform has more significant effects on non-SOEs and local SOEs. In general, BT-to-VAT reform has no significant effects on the turnover tax burden of companies and after differentiating pilot regions, pilot sectors and ownership nature, we did not discover any significant effect, which is generally consistent with policy expectations.
文摘Using CHIP （Chinese Household Income Project Survey） data and the sample selection bias corrected wage function model, this paper estimated changes in wage structure in China by ownership types （SOEs, COEs, FEs, and PEs） in 1995 and 2007. The major conclusions are as follows. First, effects of education on wage levels in SOEs and FEs become greater, while education effects decrease in SOEs and PEs under economic transition periods; firm-specific human capital becomes more important in the wage determination mechanism along with market-oriented reforms in SOEs, PEs, and FEs; age effect decreases in SOEs and COEs, but it becomes greater in PEs and FEs. Second, there exist wage structure differences between sectors by wage distributions. For example, in 2007, in SOEs, education return rates are higher for the low-wage and middle-wage groups, and the effect is the highest at the 40th percentile. However in COEs and FEs, education return rates are higher for the high-wage groups, and the effect is the highest at the 70th percentile in COEs and at the 70th percentile in FEs. Tenure effects are greater in the middle-wage groups （40th-80th） in SOEs, COEs, and FEs, and age effects are greater in the low-wage groups （5th-30th） in SOEs, FEs, and PEs.
基金"A Study on the Rent-seeking,Political Capital Burst and Economic Consequences of Private Enterprises,Based on the Perspective of Officials Arrest"(Grant No.71702178),National Natural Sciences Foundation"Anti-Corruption,Reconstruction of the Relationship Between Government and Enterprises Social Capital Investment:An Integrated Research Based on Social Relation Network Theory"(Grant No.17YJC790005),MOE Project of Humanities and Social Sciences Foundation
文摘With the implementation of the CPC＇s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm performance for SOEs and private firms respectively. Our empirical research has found that after the release of the ＂eight-point regulation ＂, investors responded negatively to private frms and positively to SOEs. Such market response is more significant for firms with a high degree of rent-seeking. Further research has found that rent-seeking helps both SOEs and private firms receive more subsidies from the government. While government subsidy from rent-seeking is conducive to the performance of private firms, it is not the case for SOEs. This implies that rent-seeking activities serve as a ＂lubricant＇for private firms but have a ＂stumbling block＂ effect for SOEs.
文摘In this paper, we analyzed the status of human resource management practices in western China state-owned and state holding enterprises azld private enterprises, and found that there are differences in the nature of the business combination of different patterns of human resource management practices.
文摘In search of private equity investment opportunities in China, one would be astonished by the rise of raw private entrepreneurship in this largest emerging market economy in the world. The country is experiencing a transition from a planned, socialist economy to a market or mixed economy. The emergence of a significant private sector is one of the most important developments of the market-oriented reforms in China over the last quarter of a century. It is true that the transformation of public ownership into private ownership indeed gave a rise to the new private enterprises. Nevertheless, there is also an origination process of genuine private enterprises parallel to this privatization approach. In this paper, the concept of raw entrepreneurship is introduced to distinguish new, green-field private firms from the rest of the private sector that has emerged from older firms that have been converted from SOEs （state-owned enterprises） or COEs （collectively-owned enterprises）. It is also a concept that stresses the highly innovative manner in which private firms have emerged in China. This paper will explore deeply the concept of raw entrepreneurship through three case studies as well as theoretical analysis based on traditional wisdom.
文摘NEWLY APPOINTED SOE SUPERVISORXiao Yaqing was appointed head of the State-owned Assets Supervision and Administration Commission of the State Council(SASAC)on February 1.Before the appointment,he worked as deputy secretary general of the State Council.
