SOE Reform: from Corporate System to Ownership System

China’s restructuring of state-owned enterpsies has been a major component of the country’s reform and opening, and a driver of its impressive economic growth of the last two decades. An examination of this restructuring is important not only as a contribution to the general economic development literature, but also for China to best understand how its development has played out so far, and thus how it might best be continued.

Civil Society in Traditional China: Governance and Ownership System——Evidence from Construction and Management of Public Facilities in the Qing Dynasty

This paper focuses on the bridge council and free ferry services as the private organizers of public infrastructure construction in the Qing Dynasty, uncovers the legal entity ownership system and governance model with China's native origin, and reveals the attributes and characteristics of ownership by legal entities in China's traditional era. Bridge councils and free ferry services are non-profit and non-government public-interest institutions, whose members were elected by local communities. These councils were responsible for the fundraising, construction, and long-term maintenance and operation of public facilities and infrastructure at the grassroots level. They adopted open and transparent management procedures and could coordinate cross-jurisdictional affairs and mediate disputes. They possessed independent assets such as lands and fund reserves, and such exclusive legal-entity ownership received protection from the government and under the laws. Such form of legal-entity ownership provided the institutional foundation for the development of clans, temples, charitable groups, academies of classical learning, and various associations and societies. These self-organizing groups demonstrate remarkable mobilization and organizational capabilities and institutional creativity of civil society in traditional China. They served as a link between the government and communities and played a unique and active role in maintaining social order at the grassroots level.

The CPC’s Century-Long Exploration of a Socialist Ownership System

Throughout its century-long history,the Communist Party of China(CPC)has been striving to explore and implement an ownership system of the means of production.Upon its founding in 1921,the Party envisioned to create a sole ownership system after the victory of the National Revolution.In war times,land issues dominated the agenda of the Party’s work on the ownership structure since most of its bases and liberated areas were in the countryside.After the founding of the People’s Republic of China in 1949,China established a basic socialist economic system through“one industrialization and three transformations,”i.e.socialist industrialization and the transformations of agriculture,artisanal production,and capitalist industry and commerce.This nascent socialist economic system was characterized by the sole public ownership of the means of production and a highly centralized planned economy.Since the reform and opening up in 1978,the Party took bold steps to explore and reform the socialist ownership system under the principle to keep public ownership as the mainstay and allow diverse forms of ownership to develop side by side.In the new era,the Party has redefined China’s basic socialist economic system by creating a mixed ownership structure at two levels with public ownership as the mainstay.China’s increasing economic vitality and dynamism have witnessed the exploration and growth of this mixed ownership system.

Mixed-ownership Reform:Private Firms’Role in Targeted Poverty Alleviation-A Perspective on Resource Complementarity and Check&Balance

Targeted poverty alleviation(TPA)serves as a winning formula for fighting poverty and has generated valuable experiences for achieving common prosperity.The mixed-ownership reform has enhanced corporate economic performance.However,further testing is required to assess whether enterprises contribute to the improvement of distribution by participating in TPA.Taking A-share-listed private enterprises between 2016 and 2021 as research samples,we conducted an investigation into the extent and manner in which the mixed-ownership reform contributes to TPA.Our research reveals that a higher proportion of state capital equity participation is correlated with a greater level of private enterprises’contribution to TPA.This indicates that the mixed-ownership reform is beneficial for prompting private enterprises to shoulder responsibilities for building a society of common prosperity.As shown by the mechanism test,state capital equity participation encourages private enterprises to contribute to TPA primarily by alleviating corporate financing constraints through the resource complementarity effect.In contrast,the check&balance effect of promoting corporate poverty alleviation by mitigating the principal-agent problem has not yet been significantly demonstrated.Regarding the poverty alleviation model,state capital equity participation prompts private enterprises to contribute to TPA through industrial development,educational investment,and environmental protection,emphasizing a combination of providing external assistance and cultivating endogenous development capacity.In terms of TPA regions,state capital equity participation plays a significant role in supporting economically less-developed regions,regions with high unemployment rates,and central and western regions.This paper provides new empirical evidence for deepening mixed-ownership reforms and advancing common prosperity.

The Impact of Short Selling Disclosure Regulatory Constraint on the Lending Market and Stock Ownership

We examine the impact of the short sell disclosure(SSD)regime on the stock lending market and investor behaviors,employing a staggered difference-indifference(DiD)methodology.Our research reveals that the introduction of the disclosure regime enhances market transparency,resulting in a diminished appeal of stock ownership in the lending market for active investors.This shift is accompanied by a reduction in information leakage risks and longer loan durations.Specifically,our analysis reveals a significant decrease in the risk of loan recall by 4.87%,accompanied by an average increase of 23.72%in loan duration for short selling activities.Furthermore,the cost associated with short-sell disclosure causes a decline in both lending supply and short demand.

Property Attribute and Property Ownership of Virtual Property

Virtual property has increasingly become a key issue,particularly regarding its nature,ownership,and goodwill acquisition,all of which are worthy of study.Analyzing these issues can contribute to a better understanding of how to develop laws and regulations to protect virtual property.

Research on Mixed Ownership Reform of State-Owned Enterprises from the Perspective of Marxist Political Economy

Under China’s socialist system,state-owned enterprises are key forces driving the economic trajectory and providing strong momentum.These enterprises not only bear the crucial responsibility of advancing the process of national modernization but also serve as the core of the national economic lifeline through their irreplaceable status and function amidst changing times.In the new era,with the advent of the technological revolution and the wave of globalization,state-owned enterprises face unprecedented opportunities and challenges.As a significant aspect of state-owned enterprise reform,the mixed ownership reform is not only a transformation in the structure of enterprise ownership but also a reflection of China’s broader,comprehensive reform efforts.By deeply advancing this reform,it will help optimize the allocation of state-owned assets and significantly boost technological and management innovation within state-owned enterprises,ensuring their competitiveness in the intense market environment.Therefore,this paper will conduct an in-depth analysis of the mixed ownership reform of state-owned enterprises from the perspective of Marxist political economy.

Car Ownership and the Impact of Built Environment, Demographics and Transport Systems

Auto ownership is one of the most important linkages between travel demand and land use. Residents in denser, urban or more transit accessible neighborhoods tend to own fewer cars. Car ownership influences almost all aspects of travel behavior, including travel frequency, travel distances, mode choice and time-of-day choice. At the same time, car ownership affects residential location choices, as households owning cars are less likely to choose urban neighborhoods than households without cars. This paper describes a new microscopic auto-ownership model that has been estimated with survey data. The model is fully integrated with a land use and a transportation model to capture： （1） how owning a car affects travel behavior and location choice; and （2） how the built environment and the transportation needs affect auto-ownership decisions. The model has been validated against census data and is fully operational.

Audit Quality, Legal Systems, Investment Opportunity Set and Ownership Structure： Evidence From United States, France and Germany

This paper investigates the determinants of audit quality of three countries especially the United States, France and Germany belonging to three different legal systems. These determinants concern the legal system of country, investment opportunity set and ownership structure which have influence of audit quality.Empirical results show, initially, that specificities of legal system are positively associated with audit quality appreciated by size of audit firm. Then, the results reveal that investment opportunity set influences partially size of audit firm. Finally, ownership structure influences negatively the search for a high audit quality

地权稳定性对国有农场职工土地投资行为的影响研究

加强土地投资是改善农业生产条件、提高农业生产效率的有效途径。文章基于新疆国有农场517份职工调查数据,采用Ologit模型实证检验了地权稳定性对国有农场职工土地投资行为作用机制和影响效应。研究结果表明:地权稳定性对国有农场职工的土地投资行为具有显著正向影响,其中对职工土地保护性投资的边际效应影响强于农田基础设施投资;信贷可得性在地权稳定性对土地投资行为的影响中发挥了中介作用,非正式制度在这一过程中发挥着正向调节作用;异质性分析表明,地权稳定性对青年职工和高中学历职工土地投资行为的边际效应更大。据此,建议继续加强国有农场土地的地权稳定性,健全完善国有农场土地投资的配套制度,发挥好信贷支持和非正式制度的作用以缓解国有农场职工的土地投资约束,进一步优化国有农场职工的年龄和学历结构。

混合所有制办学治理体系何以完善:逻辑、机制与案例

混合所有制办学作为职业教育与产业深度融合的典型模式,是推动人才培养与技术技能创新的有效途径,完善其治理体系是职业教育混合所有制改革的关键所在。通过对职业院校混合所有制治理的逻辑导向与机制的分析,探讨了混合所有制办学中合法性与效率性的博弈与协同。以混合所有制数智工程师学院为主要案例,剖析混合所有制二级学院办学的治理结构、投入与收益分配、风险控制等关键要素,提出了混合所有制办学的未来展望和优化策略,为完善混合所有制办学治理体系提供创新思路,助力混合所有制办学在职业教育领域的有效实施。

职务科技成果权属改革全方位法规体系协调研究

职务科技成果权属改革需要法规体系的协调支持。现行法规体系缺乏顶层设计统筹,一方面提倡赋能,一方面仍存在制约赋权的关键障碍;知识产权法、科技法、资产管理法等规定纷杂交错且多头冲突,对成果依法赋权与权能利用造成不利影响;职务成果混合所有制、非资产化管理等权属赋能改革存在合法性困难。各地方改革探索从1.0版向2.0版深化发展,试图解决供应端、管理端、服务端、应用端的全要素赋能难题。结合试点改革经验,分析当前法规适应现实发展、政策需要的不足;分析科技成果的内涵类型、法律权能、权利取得与资产管理制度,面向科技成果创造到转化运用全周期,探究科技成果客体权属、主体所需权能与其不协调问题,剖析制约创新与转化的因素根由、对策机理、权能匹配方案。指出上游供应端、中游管理服务端、下游应用端的改革重点;提出构建多主体收益兼容的期权激励、处置与收益分管的相容举措,提升重要环节主体能动性;建议夯实职务科技成果的法律权利基础,明确权属改革依据;针对不敢转、无能转、没动力转和创新质量不足、市场条件不对接等现实障碍,提出增强基础研究权益激励、培育高质量创新、引导科技成果弹性定价、优化国有无形资产管理方式、强化权责利益匹配协同等制度对策,探索构建统一的职务科技成果法规,保障职务科技成果权能发挥长周期作用。

Modeling household car ownership using ordered logistic regression model

Considering both the discrete and ordered nature of the household car ownership an ordered logistic regression model to predict household car ownership is established by using the data of Nanjing Household Travel Survey in the year 2012. The model results show that some household characteristics such as the number of driver licenses household income and home location are significant.Yet the intersection density indicating the street patterns of home location and the dummy near the subway and the bus stop density indicating the transit accessibility of home location are insignificant.The model estimation obtains a good γ2 the goodness of fit of the model and the model validation also shows a good performance in prediction.The marginal effects of all the significant explanatory variables are calculated to quantify the odds change in the household car ownership following a one-unit change in the explanatory variables.

中国式现代化的基本经济制度基础:理论回应与实践路径——来自深圳的经验启示

中国式现代化是中国共产党带领人民基于中国国情探索的一条适合自身发展的现代化道路,突破了“现代化等于西方化”的思想禁锢,在内涵、特征、实现路径等诸多方面对西方现代化进行“扬弃”。其中,社会主义所有制结构是在保证社会主义基本方向不变的前提下,将公有制与非公有制经济充分结合,注入新鲜动能拉动生产力发展以助力经济建设;社会主义分配制度以构建初次分配、再分配、第三次分配均衡促进生产效率与社会公平行稳致远;社会主义市场经济体制发挥有效市场与有为政府作用促进资源占有方式与资源配置方式有机统一。深圳作为改革开放后首批经济特区,依托社会主义基本经济制度优势,经过长期探索和实践,取得了巨大成就,成功铸就了“深圳经验”,对进一步推动中国式现代化具有重要借鉴意义。

Registration system reform and initial public offering ownership preference:Evidence from China

Whether registration system reform(RSR)can curb administrative intervention and create a fair market environment has long been a concern in China.We explore this issue from the perspective of the initial public offering(IPO)preference based on the entropy balancing method,and findings are as follows.First,an IPO ownership preference exists under approval system.That is,state-owned enterprises(SOEs)are more likely than private enterprises to obtain IPO approval.However,RSR significantly changes this preference,especially for non-politically connected private enterprises.Second,the post-IPO market performance of SOEs is inferior to that of private enterprises under approval system,thus excluding the view that approval is prioritized for SOEs because of superior performance.Third,compared with SOEs,private enterprises are more likely to switch the issuance system from approval system to registration system;this change makes it easier for them to obtain IPO approval,indicating that private enterprise owners perceive the registration channel to be fairer.Fourth,the effect of RSR on IPO ownership preference mainly occurs in companies in three major urban agglomerations in China—the Pearl River Delta,the Yangtze River Delta,and the Beijing–Tian jin–Hebei region—and in technology-intensive industries.Collectively,our findings reveal that RSR cultivates a fairer IPO approval process.

An Investigation into the Issues Concerning the Copyright of Content Generated by Text-to-Video AI

Text-to-video artificial intelligence(AI)is a new product that has arisen from the continuous development of digital technology over recent years.The emergence of various text-to-video AI models,including Sora,is driving the proliferation of content generated through concrete imagery.However,the content generated by text-to-video AI raises significant issues such as unclear work identification,ambiguous copyright ownership,and widespread copyright infringement.These issues can hinder the development of text-to-video AI in the creative fields and impede the prosperity of China’s social and cultural arts.Therefore,this paper proposes three recommendations within a legal framework:(a)categorizing the content generated by text-to-video AI as audiovisual works;(b)clarifying the copyright ownership model for text-to-video AI works;(c)reasonably delineating the responsibilities of the parties who are involved in the text-to-video AI works.The aim is to mitigate the copyright risks associated with content generated by text-to-video AI and to promote the healthy development of text-to-video AI in the creative fields.

Hand Cooling Enhances the Proprioceptive Drift during Rubber Hand Illusion

Background: The neural representation of the body is easily altered by integrating multiple sensory signals in the brain. The “Rubber Hand Illusion” (RHI) is one of the most popular experimental paradigms to investigate this phenomenon. During this illusion, ownership of a rubber hand is temporarily induced. It was shown that external and continuous cooling of the palm enhanced the RHI, suggesting an association between altered the autonomic nervous system regulation and altered the sense of ownership of a specific limb. Purpose: To investigate whether artificially cooling the entire hand for a short period affects the magnitude of the illusion. Methods: Participants immersed their entire hand in cool, cold, or warm water for 1 min before the RHI procedure. Results: We found that cooling the entire hand enhanced the proprioceptive drift during the RHI but not the subjective feeling of ownership. In contrast, warming and intense cooling of the entire hand did not affect the RHI strength. Conclusion: Our results suggest that transient and moderate cooling of the entire hand was sufficient in enhancing the illusory disembodiment of one’s own hand.

Will Online Car-Hailing Affect Consumers’ Decisions about Automobile Purchase?—An Empirical Study Based on Questionnaire Investigation

The online car-hailing industry, which provides the right of use, has a certain impact on the traditional automobile market, but there is no unified theory on whether it has a positive impact or a negative impact. Based on 362 consumer questionnaire data, this study builds a structural equation model to discuss the driving factors of residents’ choice of online car-hailing and whether the development of online car-hailing will have a certain substitution impact on the sales of private cars. From the perspective of consumers’ purchase intention, the research results show that consumers’ price consciousness, convenience consciousness, environmental protection consciousness and possession tendency will affect their choice of travel mode, and the use of online car-hailing is positively correlated with consumers’ willingness to replace private car ownership with online car-hailing.

“马克思重建个人所有制思想”中国学者研究述评

为了探寻马克思重建个人所有制思想的历史意义,立足国内学界的研究视角,采用文献研究法和对比分析法,在分析马克思重建个人所有制思想提出的背景、基本表述和所处地位等主要问题的基础上,系统梳理国内对这一思想的研究成果,包括归属主体及其性质的研究、客体指向研究、实现形式研究以及当代价值研究。以期探析国内学者存在的争论以及成因,并从马克思理论体系出发,结合中国具体实际展开关于马克思这一思想的再认识,在推动马克思重建个人所有制思想的中国化、时代化发展的同时,为我国深化所有制改革指明目标和方向。

Computational Strategy Research on the Development of Kiruna,in Sweden

In Kiruna,nearly all the residents support the migration plan in order to make LKAB able to continue the mining process.Based on current condition,a larger part of this town will be demolished by the sinking land caused by iron ore mining processing operated by LKAB.Since then,most of the buildings in the sinking district will be relocated in another district.However,the situation in Kiruna is not quite the same as when this kind of migration happens in another place.In other place,while migration happens,even if not most,a large part of the local residents will resist and fight for their house and properties.Concentrated on the ownership of different buildings and tried find the relationship between the public and private buildings to discover some issue that will help to work on the computational urban design.