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.

Political Connection, the Nature of Property Rights, and Enterprise M＆A Performance——Empirical Study based on the Panel Data of Listed Companies

Mergers and acquisitions （M＆A） are the important methods to quickly acquire external resources, achieve the economies of scale and the economies of scope, improve market share, and expand the scale of enterprise, while M＆A performance is an important index to measure if enterprise M＆A is successful. In this paper, the influence of entrepreneurs＇ political connection on the M＆A driving factors and M＆A efficiency of the enterprises with different property rights are analyzed using 357 mergers and acquisitions of China＇ s 189 listed companies in 2005-2011 as samples based on the distinction between political connection and the nature of enterprise property rights. The results show that the political connection plays a very significant positive influence on the M＆A performances of the central state-owned enterprises and private enterprises, but exerts a very significant negative influence on the local state-owned enterprises; the intensity of entrepreneurs＇ political connection also plays a certain influence on enterprise merger and acquisition, and the central political connection and the local political connection are significantly different in the influence on the enterprise M＆A performance.

The impact of political connections on firm pollution: New evidence based on heterogeneous environmental regulation

Increasing attention has been focused on the extent to which corporate political connections influence the growing pollution due to the rapid growth in the popularity of firm pollution in developing countries.We adopt a static threshold regression model to investigate the effects of heterogeneous environmental regulation on political connections and firm pollution based on the panel data from China’s A-share listed companies from 2012 to 2019.The empirical results show a non-linear relationship between the degree of political connection of listed company executives and the level of firm pollution.And the relationship between the two roughly presents a U-shaped relationship under the action of the marketincentive environmental regulation threshold.However,it roughly presents an inverted N-shaped relationship under the action of the command-control environmental regulation threshold.Additionally,the group test results show that the existence of regional and ownership heterogeneity causes certain differences in the environmental behaviour of politically connected enterprises.These findings indicate that diverse environmental regulations are needed to promote sustainable green development and to further expand the theoretical and practical exploration of political connections on firm pollution.

Study on the Connection Problems and Countermeasures of the Integration of Ideological and Political Courses in Colleges and Primary and Middle Schools

The integration of ideological and political curriculum which exists in colleges and compulsory education is a powerful guarantee for enhancing the effectiveness of the course.Putting theoretical content as well as teaching practice into effect contributes to every improvement and new idea about the curriculum.Facing the new circumstances,new tasks,and new challenges under the social background,it is necessary to reinforce the connection of the integration of the subject in universities and colleges and compulsory education,and take problems as the research direction for the sake of expanding the channels for courses ideological and political construction,and understand the integrated evolution of ideological and political theory courses of undergraduate and specialist education and compulsory education to a higher degree.Grasping the current situation and problems of the theory curriculum in colleges and compulsory education,and exploring the content of the theory in undergraduate and specialist education and compulsory education are of great significance,both in the integrated construction of ideological and political theory courses of undergraduate and specialist education and compulsory education and in making the best of the courses to implement the basic task of fostering people.

Do Political Connections Promote Innovation in Environmentally Polluting Enterprises?

We use an unbalanced panel data analysis to examine the effect of political connections(PCs)in state-owned enterprises(SOE)and non-SOEs on the innovation of Chinese environmentally polluting enterprises listed on the Shanghai and Shenzhen Stock Exchanges from 2007 to 2016.Our sample consists of 792 firms and 4587 firm-year observations.There are several interesting findings.First,SOEs that are politically linked to the central government promote more innovation in general and more environmental innovation than SOEs without these links.Second,privately-owned enterprises(non-SOEs)with PCs promote less environmental innovation than non-SOEs without PCs.Third,environmental regulation does not affect the environmental innovation of SOEs but it drives non-SOEs with PCs to become more environmentally innovative.Our results enable us to better understand how PCs and regulations affect environmental innovation.

The costs of socializing with government officials:A new measure of corporate political connections

We construct a new measure to capture corporate political connections, which is based on the amount a corporation spends on socializing with government officials. We examine the validity of this measure using the exogenous turnover of top local officials and find that firms increase their political networking expenditures when top local officials are replaced. Compared to state-owned enterprises(SOEs), non-state-owned enterprises(non-SOEs) react more aggressively to changes in local officials, which implies that non-SOEs have stronger incentives to build political connections with officials through social intercourse. We also find that firms located in regions with low levels of marketization react more aggressively to the turnover of local politicians. In addition, we find a positive effect of corporate political socializing expenditures on corporate performance and valuation, which suggests that political connections built through social intercourse benefit corporations.

Political connections, media monitoring and long-term loans

We analyze data on Chinese non-state-listed firms and find that it is easier for firms with political connections to obtain long-term loans with extended debt maturities than it is for firms without political connections. Our investigation indicates that this phenomenon is significantly less common with increased media monitoring. Houston et al.(2011) find strong evidence that the state ownership of media is associated with higher levels of bank corruption in China, but our study shows that, to a certain extent, media monitoring can curb corruption.

Human Mirror Neuron System (hMNS) Specific Differences in Resting-State Functional Connectivity in Self-Reported Democrats and Republicans: A Pilot Study

In light of ever-present partisan division in the US political system, it is critical that researchers gain a better under-standing of potential biological differences that exist between self-professed Democrats and Republicans. In the current pilot experiment, we examined differences within the human mirror neuron system (hMNS), a network linked to a host of social and emotional abilities, in a small group of self-identified Republicans and Democrats. We found clear differences between these two groups with respect to resting-state brain connectivity within the hMNS. These neural differences were not systematically related to differences in empathy. Our findings are consistent with the idea that other factors, such as one’s preferential type of social connectivity (broad vs. tight), may have driven the reported findings. These data provide novel insights regarding our knowledge of the biological basis of party identification, and suggest specific directions for future research.

Political governance in China's state-owned enterprises

State-owned enterprises(SOEs)are both the economic and political bases of the Chinese Communist Party(the Party)and the Chinese state.The overarching principle of SOE reform is to firmly implement the Party’s leadership and the modern enterprise system.This principle creates a political governance system in China’s SOEs—a Party-dominated governance system characterized by Party leadership,state ownership,Party cadre management,Party participation in corporate decision-making,and intra-Party supervision.This survey explains the logic of political governance in China’s SOEs,presents the evolution and current practices of each element of the system,and discusses findings from both academic research and the field.

Are transactional political connections more valuable to firms than relational political connections?

Political connections are an increasingly important part of firms’strategies to develop relationships with the government and poli-ticians.This study examines the impact of transactional and rela-tional political connections on firm value.The results show that transactionally connected firms are more likely to exhibit greater firm value than their relationally connected and non-connected counterparts.This study further finds evidence of a long-term value-enhancing effect of the transactional approach to political connections.A variety of robustness tests with alternative model specifications continue to show that transactional political con-nections lead to higher firm value.The findings indicate that firms with transactional political connections are provided with better networks with the political regime in power compared with those with relational political connections.These transactionally con-nected firms may enjoy preferential treatment from the govern-ment,in the form of lower taxes,and the access to government loans,subsidies,bailouts,and/or procurement contracts.

The Relation between Abnormal Main Fund Movements and Subsequent Earnings Management： Political Costs and Political Connections

Movement of major fund1 flows has great impact on capital markets, especially in China. This study investigates the relationship between abnormal main fund movements and firm＇s earnings management behavior, specifically, whether the abnormal main fund movements cause firms to keep a low profile for ＂self-protection＂ from being detected by the government. The empirical results of this study suggest that： （1） The mandatory disclosure of the ＂Top-ten circulating stockholders＂ requirement does not only reduce information asymmetry between investors and listed firms, but also strengthens and improves the efficiency of related government regulations in detecting disclosure of false information. This, in turn, increases the risk of being detected for firms with earnings management activities. （2） After abnormal main fund movements, relevant firms significantly reduce the level of earnings management to avoid attention from the public and regulatory agencies. （3） Using political connections as a proxy for the ＂shield effect＂ to mask political cost, we show that the negative relation between abnormal main fund movements and earnings management exists only for the subsample of firms without political connections. This paper provides a new angle for political cost study, and suggests that traditional political cost hypothesis should be further generalized.

The relationship between political connections and the mutual fund performance:Evidence from the US

This paper examines the effect of political connections between mutual fund managers and politicians on the fund performance.Using the publicly available data of individual political donations,we regard the mutual funds as politically connected when their managers make financial contributions to politicians.First,we show that aggregated stock holding changes of politically connected funds predict subsequent abnormal stock returns around the earnings announcement day,implying that the political connection promotes managers’stock picking abilities.Further evidence derived from the sample of entry buys and exit sells shows that politically connected funds outperform politically non-connected funds by 82 basis points annually.Second,we provide evidence that earnings forecast accuracy for the firms whose stocks are held by politically connected funds is improved significantly when time is approaching the announcement date,highlighting the importance of political channels through which information flows between firms and the market are facilitated.

POLITICS

China Unveils Plan to Connect Online and Offline Commerce Investment in broadband Internet in rural areas,support for development of virtual reality(VR)and encouragement of the sharing economy are highlights of an action plan drawn up by the State Council for integrating online and offline commerce.

平台企业互联互通助推全国统一大市场建设:理论逻辑与实践路径

全国统一大市场的建设,是实现新发展格局的基础支撑。在数字经济时代,平台企业作为数字经济体系下的关键市场主体,有效地引领消费、教育、医疗等活动,实现了全面的数字化转型。平台企业互联互通更是依托于互联网技术,强化了平台双边用户的网络外部性与多归属性,以及平台企业双重身份的价值创造效应,从而有效提高了市场的统一性、开放性、竞争性、有序性,推动了全国统一大市场的建设。然而,互联互通过程中存有的推动互联互通运行的障碍及互联互通后所引发的潜在障碍等制约了统一大市场建设的进程。为此,从提升平台企业互联互通意识、加强互联互通技术研发、加强数据保护措施建设、强化互联互通的反垄断制度建设等方面着手,提出了一系列政策建议,以在规范平台经济发展的同时,促进全国统一大市场建设。

亲清政商关系与企业数字化转型

在数字经济时代,数字化转型是企业实现高质量发展的内生要求,而企业的数字化转型离不开政府的引导和支持。基于此,分析检验当前亲清政商关系构建会如何影响微观企业的数字化转型,有助于企业实现高质量发展。利用2016—2020年中国A股传统行业上市公司的年度观察数据研究发现,亲清政商关系对企业数字化转型具有显著的正向影响,即在政商关系越亲清的地区,企业的数字化水平越高,并且这种正向影响在非国有企业中表现得更强。进一步的机制检验表明,亲清政商关系主要通过“市场导向效应”和“资源供给效应”对企业数字化转型发挥积极的促进作用。更具有启发意义的是,主要是政商关系的“亲近化”而不是政商关系的“清白化”助力了企业的数字化转型,而且亲清政商关系能够降低传统政治关联的相关影响。

2023年版《理工科类大学物理课程教学基本要求》内容细化修订解读

本文介绍了对2010年版《理工科类大学物理课程教学基本要求》修订的意义和过程,并对2023年版《理工科类大学物理课程教学基本要求》中修订内容进行了解读。

课程思政视域下校企合作教学案例库建设研究——以鲁东大学土木水利专业硕士课程教学为例

案例教学法是培养工程领域高素质创新型人才的有效途径,土木水利专业硕士研究生工程实践能力的提升亟需建立完善的教学案例库。本文研究了课程思政视域下土木水利专业硕士(土木工程领域)校企合作教学案例库建设,主要包括案例库的总体框架、案例库主题方向和素材来源、案例库共享机制等内容,旨在为土木水利专业硕士相关课程案例库的建设提供理论思路和实践指导。

基于校企合作的机械设计基础课程思政教学改革与实践——以九江学院为例

从应用型高校对人才培养的要求出发,结合机械设计基础课程实际,立足于地区经济发展需求,深入挖掘课程思政元素,探索校企合作实施课程思政的路径。从强化教师现代教育理念,优化完善人才培养方案,打造优质校企教学团队,采用线上线下混合教学,强化过程考核,突出课程思政育人成效等方面,将课程思政元素融入全过程,激发学生的责任意识和爱国主义情怀,培养学生一丝不苟、爱岗敬业、乐于奉献、团结协作、改革创新的工匠精神。

基于OBE-CDIO理念的四维专业课程思政建设与实践探索

立德树人是高校教育的中心任务和根本目标,传统理工科课程内容的德育意识薄弱、价值涵纳度较低,专业课程思政有效发挥思政课程外的德育功能,新时代德、技、能并进的高等人才培养模式探索势在必行。该文以专业教育为载体,融合线上、线下理论课程和项目制实践课程三维空间一体化模式开展专业思政教育;以成果导向教育为核心、以学生为中心,全过程评价并持续改进,在OBE-CDIO理念下构建时间维度的成果导向和项目驱动专业培养模式,实现三维空间与时间维的4D专业课程思政建设,以形成思政要素和专业教育协同、立体化施教,达到高层次的育人目标。