Research on Efficiency of Financial Supports in Agricultural Industrialization in China

The agricultural industry development in China has been very successful, but there exist some problems, such as weak financial support strength. With the help of DEA-Malmquist index method, this paper evaluated the efficiency of the agricultural industrialization＇s financial supports, made a deep study of its influencing factors, which have an extremely important influence on the perfect agricultural industrialization＇s development.

Option of Fiscal and Financial Polices Based on Monitoring Boom of Urban Employment

With downward pressure of economy facing, monitoring boom index of employment continue to decline. This paper will research on how to cope with urban employment problem using fiscal and financial polices,through building system of boom of urban employment, and identifying risk signal of Chinese urban employment.

Fiscal Decentralization,Financial Decentralization and Macroeconomic Governance

Improvement of the macroeconomic governance system as an important part of the national governance system is a key initiative to address major economic problems in the new era.The coordination and economic regulatory effects of fiscal and monetary policies are subject to the arrangements of fiscal and financial decentralization systems.Analysis revealed a mismatch between China’s fiscal income decentralization and fiscal spending decentralization,as manifested in the clear decentralization of fiscal revenue and vague decentralization of fiscal spending;in pursuing local economic stability,local governments seek other sources of revenue and compete for financial resources,as manifested in apparent financial centralization and implicit financial decentralization,causing financial decentralization to be inconsistent between various levels of government and between government and the market.The above-mentioned problems are reflected in mutual conversion between public finance and financial intermediation as two financial allocation methods and mutual transmission between fiscal and financial risks,making the case for enhancing coordination between fiscal and monetary policies.In creating a scientific macroeconomic governance system,therefore,we must establish clear local government responsibilities,reduce the proportion of local fiscal spending,clarify the orientations and relief boundary of fiscal and monetary policies,moderately decentralize financial powers,and give better play to the role of local governments in improving the quality of economic development and controlling major risks.

Executive Compensation and Corporate Financial Performance： Empirical Evidences on Brazilian Industrial Companies

This survey investigated the relationship between executive compensation and the financial performance of companies. It is hypothesized that a company can utilize its pay system to direct executives＇ efforts toward its strategic business objectives, thus contributing to higher levels of corporate financial performance. The survey data consisted of a secondary and non-probabilistic sample of 44 Brazilian industrial companies. In order to operationalize the independent remuneration variable, the authors used average monthly salary, average variable salary, and three indices that were created for this survey： benefits, career, and development. These indices measure the access to benefits, mechanisms for stimulating and supporting careers, and mechanisms to encourage education and professional development that companies offer to their directors, vice presidents, and chief executive officers （CEOs）, who are referred to in this paper by the term ＂executive＂. The remuneration data are from fiscal year 2006. In order to operationalize the financial performance variable, two accounting indicators were used： sales growth and return on equity （ROE） for fiscal years 2006 and 2007. The size of the companies was used as a control variable. The results of a multiple regression analysis do not support the hypothesis that there is a positive and significant relationship between executive compensation and corporate financial performance.

Revisiting the nexus between fiscal decentralization and CO_(2)emissions in South Africa:fresh policy insights

The argument over fiscal decentralization and carbon dioxide emission(CO_(2))reduction has received much attention.However,evidence to back this claim is limited.Economic theory predicts that fiscal decentralization affects environmental quality,but the specifics of this relationship are still up for debate.Some scholars noted that fiscal decentralization might lead to a race to the top,whereas others contended that it would result in a race to the bottom.In light of the current debates in environmental and development economics,this study aims to provide insight into how this relationship may function in South Africa from 1960 to 2020.In contrast to the existing research,the present study uses a novel dynamic autoregressive distributed lag simulation approach to assess the positive and negative changes in fiscal decentralization,scale effect,technique effect,technological innovation,foreign direct investment,energy consumption,industrial growth,and trade openness on CO_(2)emissions.The following are the main findings:(i)Fiscal decentralization had a CO_(2)emission reduction impact in the short and long run,highlighting the presence of the race to the top approach.(ii)Economic growth(as represented by the scale effect)eroded ecological integrity.However,its square(as expressed by technique effect)aided in strengthening ecological protection,validating the environmental Kuznets curve hypothesis.(iii)CO_(2)emissions were driven by energy utilization,trade openness,industrial value-added,and foreign direct investment,whereas technological innovation boosted ecological integrity.Findings suggest that further fiscal decentralization should be undertaken through further devolution of power to local entities,particularly regarding environmental policy issues,to maintain South Africa’s ecological sustainability.South Africa should also establish policies to improve environmental sustainability by strengthening a lower layer of government and clarifying responsibilities at the national and local levels to fulfill the energy-saving functions of fiscal expenditures.

Financial crisis and sustainable development of Chinese manufacturing industry

Sub-prime lending crisis has become an international fi nancial crisis, which is evolving into an economic recession sweeping across the West. Financial crisis leads to the demand reduction in western countries, and as the largest manufacturing country, China must face overproduction. The role of China as "world factory" determines that fi nancial crisis will severely attack Chinese manufacturing industry. The unsustainable development of Chinese manufacturing industry is mainly reflected in the following aspects: heavy dependence on export, low-level manufacturing link, lack of modern service industry and high-tech industry, weak independent innovative ability, unsustainable exploration of heavy-pollution resources, and lack of international famous brands. How to transform crisis to opportunities is an urgent research topic. Under the circumstance of financial crisis, Chinese manufacturing industry has more external drives to change the current situation. Therefore, financial crisis becomes not only an opportunity for Chinese manufacturing industry to improve itself based on the existing accumulation but also a chance for China to transform from "world factory" into a powerful nation of manufacturing industry in the world.

The Impact of New Standard of Financial Instruments on Commercial Banks- A Case Study of Industrial and Commercial Bank of China

In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instruments》(Referred to IAS 39), rules of two main aspects, the classification and measurement of financial assets and the impairment model of financial assets have been changed in IFRS 9. Taking ICBC as an example, this paper studies the impact of changes in financial instruments on commercial banks. The study shows three impacts on commercial banks’ financial report. Firstly, the changes of the classification and measurement of financial assets will have limited impacts on commercial banks. Secondly, the expected-loss model will significantly increase the loan loss reserves under the new standard, thus reducing the net asset and net profit. Thirdly, the change in the measurement way of the equity instruments of available-for-sale securities will increase the fluctuation of the net profit. This study shows investors and regulators the impact of the new standard of financial instruments on commercial banks.

Research on Industrial Relevance Degree and Industrial Financial Situation Risk Matrix Construction——Based on Chinese Information Technology Industry

Based on Input-Output Table in 2010 issued by National Bureau of Statistics of China, with the help of input-output model and with the calculation of indexes of industrial relevance degree in Chinese information technology industry, the paper reveals the industrial relevance in Chinese information technology industry. The paper also selects the relevant industries which are highly associated with the development of Chinese information technology industry based on industrial relevance degree to analyze the influences of these industries on the financial situation risk fluctuation in information technology industry and to design the matrix of financial situation risk in information technology industry. Then, the paper offers countermeasures and suggestions for the development of our information technology industry.

Interprovincial Effects of Fiscal Decentralization on Financial Decentralization in China

By motivating local governments to fght for financial resources, China＇s tax sharing reform has affected the structure of financial decentralization and inflated local financial systems, thus spawning regional financial risks. Based on theoretical analysis and empirical evidence, this paper has arrived at the following findings： due to different policy objectives, central and local governments exhibit different fiscal and financial behaviors; public finance and financial sector have become financing instruments with certain convertibility under local economic growth framework,＂ fiscal decentralization inevitably affects financial decentralization and lays the foundation for provincial fiscal disparities, resulting in a certain spatial effect of interprovincial fiscal variable; fnancial explicit centralization/implicit decentralization and fiscal centralization have fueled local competition for financial resources and resulted in correlation between the spatial effects of provincial financial and fiscal variables, and moreover, their mismatch has also spawned fiscal and financial risks on various fronts. Hence, setting clear boundaries of financial centralization and decentralization and ensuring local government fiscal accountability is the key to the prevention and mitigation of fiscal and financial risks in China.

A Study on the Interaction among Financial Development,Industrial Adjustment and Urbanization

This paper attempts to study the interactive relationship among financial development,industrial structure adjustment and urbanization in China.Based on the data from 1978 to 2018,this paper establishes a VAR model for empirical analysis.The results show that after the impulse response analysis and variance decomposition of the model,industrial structure adjustment and urbanization have a positive impact on financial development in the long run.Financial development and industrial structure adjustment do not play a positive role in the process of urbanization,and there is still room for further development.It is suggested that the state should strengthen the financial support for urbanization so that the two can develop in coordination.At the same time,we should adhere to the simultaneous development of industrial structure adjustment and urbanization to ensure the simultaneous development of financial scale and efficiency.

Executive remuneration and financial performance in Brazilian companies

The objective of this study is to investigate the existence of a relationship between executive remuneration and financial performance in 28 Brazilian companies from the industrial sector. These companies have been selected among those companies elected as ＂The Best Companies to Work for in Brazil＂. In order to operationalize the remuneration variable, the authors use the monthly salary, the variable salary and three indexes--of benefits, career and professional development--which have been created especially for this survey. To measure financial performance, the authors use three accounting measures： sales growth, return on equity （ROE） and return on sales （ROS）. The results point the existence of a relationship between executive remuneration and financial performance.

Resilience and Stability in Organizations Employing Cloud Computing in the Financial Services Industry

The services and solutions offered by cloud computing continue to grow, just as the number of organizations relying on the service. Cloud computing has become prevalent in the financial services industry, where 83% of financial services institutions identified cloud computing as a primary element of their infrastructure. Although there are specific benefits of cloud computing that organizations rely on such as access to critical services and lower costs, there is the possibility that cloud computing will create costs for organizations. The purpose of the study was to present an intensive review of the benefits and threats by investigating resilience and stability of the organizations in financial services industry that use cloud computing as their primary element of infrastructure. Data collected from the interview was used to answer original research questions, which are: How are organizations in the financial services industry resilient when faced with threats or losses associated with the use of cloud computing in their organization? How do organizations in the financial services industry maintain stability when faced with threats or losses associated with the use of cloud computing in their organization? The study supports the advancement of knowledge by identifying the threats and losses that occur due to the use of cloud computing, and organizations understand common threats and thus implement proper mitigation.

Corporate Social Responsibility and Corporate Financial Performance -Empirical Research of Chinese Culture, Sports and Entertainment industry

Since 2006, the public corporations in China are required to include its social responsibilities in its annual report by company law. Corporations’ business activities should not only focus on maximizing its economic profit but also serve the society. With the awareness of the importance of social responsibility, there are an increasing number of public corporations in China to undertake more charitable activities or employee training activities. There have been a lot of academic researches investigating the relationship between corporate social responsibilities and corporate financial performance. However, the results are inconsistent and vary according to different industries. This study chose Chinese culture, sports and entertainment industry as a sample to test the relationship between CSR and corporate financial performance. Four financial ratios were used to test whether the caproate’s reasonability to government, employee, investors and society has significant impact on its financial performance. The empirical results show that apart from the responsibility to employees which is negatively influence the corporate financial performance the other three factors are found not significantly influence corporate financial performance.

Economic Growth and Interaction between Financial and Industrial Structure - Empirical Analysis on Provincial Panel Data

In recent years, China's economic growth speed has been slowing down, leading to the problems of overcapacity and unbalanced regional economic development, and the mismatch between industrial and financial structure is becoming intense. Therefore, this paper, starting with the relationship among economic growth, industrial structure and financial structure, summarizes the research by the former scholars. On this basis, by using data of 31 provincial panel data in China from 2007 to 2016, the article aims to find out the relationship between the industrial structure and economic growth, the relationship between the financial structure and economic growth and the relationship between the interaction of financial and industrial structure and economic growth. Finally, the corresponding policy recommendations are obtained following the systematical empirical conclusions. The conclusions of this paper are as follows:(1) developing indirect financing mode can effectively drive China's economic growth.(2) continuing to develop the second industry can play a catalytic role in the economic growth in most areas of China.(3) the interaction between the financial structure and the industrial structure can promote the economic growth significantly. However, the matching effect of the financial structure and industrial structure in China has not been completely formed, and the industrial upgrading should be guided to be structurally reformed through the policy.

The Relationship between Financial Development and Industrial Restructuring --Based on Panel Data of 17 Areas of Shandong

Based on the Panel Data of Shan dong Province of 17 regions, by estimating varying coefficient models, studies the relationship between financial development and industrial structure.The results show that, on the whole, the financial development indicators-the scale and the efficiency can effectively promote industrial restructuring in all regions of Shandong province, but its role has obvious differences in different regions, so it can provide a basis for economic decision-making and financial policy advice.

Financial Capital Deepening, Technological Progress and Industrial Structure Upgrading

A necessary condition for realizing macroeconomics is to rationally upgrade the industrial structure.In this process of upgrading,financial capital deepening and technological progress are important ways to promote the upgrading of industrial structure.From an endogenous perspective,this essay explores the internal links between financial capital deepening,technological progress,and industrial structure upgrading.The analysis shows that factors of technological progress have not make a tremendous impact on the upgrading of Chinese industrial structure,nor are they a positive reason for promoting the development of the industry to a higher level.The deepening of financial capital obviously promotes the optimization and upgrading of industrial institutions,which is its main factor.

Natural Resource Governance in Unrecognized Settings: What Are Emerging Political, Legal and Fiscal Issues Affecting “Somaliland”?

Somaliland declared independence after the fall of the Central Government of Somalia in 1991. Early peace settlements and state-building efforts led to transitional government and early democratic contestations including presidential elections in a hybrid state framework. This emerging democracy in a conflict-torn region is challenged by weak accountability and power imbalances between the three government branches. Over the past few years, the current ruling party started to engage with foreign companies to carry out exploration activities in onshore blocks utilizing existing information on the distribution of natural resources of oil, and gas and to lesser extent mining. Following an informal auction of selling licenses for resource exploration among various companies, Genel Energy amongst others;Somaliland has no competent institutions in managing revenues for long-term development due to two distinctive factors: 1) absence of strong legal and political frameworks specific to governance of extractive industry;2) weak fiscal regimes across spectrum of extractive companies, the state and investors.

Analysis of Factors of the sports industry affected by the financial crisis and the development of countermeasures

The 2008 financial crisis on China＇ s economy has had a huge impact. And sports tourism, sports competitions, sporting goods industry, sports and fitness industry and other industries at the core of the sports industry are no exception, deeply affected by the financial crisis. Therefore, in-depth analysis of the current development of the sports industry, as well as explore the impact of the financial crisis on China＇ s sports industry and propose appropriate measures, has a very important practical significance.

Impact of Energy Efficiency and Financial Support on Green Upgrading in China’s Industrial Sector

The report from the 20th National Congress of China emphasizes the importance of focusing on the clean,low-carbon,and efficient use of energy,increasing financial support,and promoting green upgrading within the industrial sector.This paper,based on annual data,employs the entropy weight method to construct a comprehensive index reflecting the impact of green upgrading in industrial sectors.To delve deeper,it utilizes the DEA model to measure energy efficiency and its subdivision BCC model to break down energy efficiency into technical and scale efficiency.The financial support landscape is examined from the vantage points of both direct and indirect financing.Using a multivariate time series model,this paper thoroughly investigates the influence of energy efficiency and financial support on the green upgrading of the industrial sector.The findings reveal a significant positive impact of both energy efficiency and financial support on green upgrading in industrial industries.Notably,scale efficiency emerges as the primary driver of energy efficiency.Moreover,indirect financing proves to be more effective in promoting financial support than direct financing.The empirical results retain their robustness even after substituting explanatory variables.The study concludes by contextualizing the research findings within the current real-world scenario,offering practical insights,and proposing specific recommendations.