By the end of the century, the reform and development of China’s state-owned enterprises will create new prospects. The reform of state-owned foreign economic and trade enterprises should also see further breakthroug...By the end of the century, the reform and development of China’s state-owned enterprises will create new prospects. The reform of state-owned foreign economic and trade enterprises should also see further breakthroughs. At present, the following aspects are important: 1. Implement a Holdings System in the Reform of State-owned Foreign Economic and Trade Enterprises. The holdings system plays a major role in transferring the management mechanism of state-owned foreign economic and展开更多
China has many state-owned enterprises(SOEs)and they have accounted for a large proportion of China's GDP over the last four decades.China's rapid growth contradicts literature that focuses on the inefficiency...China has many state-owned enterprises(SOEs)and they have accounted for a large proportion of China's GDP over the last four decades.China's rapid growth contradicts literature that focuses on the inefficiency of SOEs.This study shows that,in periods of economic policy uncertainty(EPU),SOEs have performed a special function as"macroeconomic stabilizers."Using Chinese listed firm data from 2008 to 2019,we investigate five aspects of SOEs'unique functions as macroeconomic stabilizers:employment,investment,growth,financial operation,and expectations.When EPU increased,SOEs had more employment,higher investment expenditure,lower performance volatility,more robust financial structures,and more stable expectations than private firms.We employ the US-China trade war as an exogenous shock on EPU to conduct a difference-in-difference-in-differences approach to mitigate the problem of potentially omitted variables.The findings of this study provide a new perspective to better explain the functions of SOEs in the 21st century.展开更多
Considering the influencing factors of the layout of solar collectors such as the tilt angles,azimuth angles,spacing between collectors and the number of collector rows,a mathematical model of the collected energy of ...Considering the influencing factors of the layout of solar collectors such as the tilt angles,azimuth angles,spacing between collectors and the number of collector rows,a mathematical model of the collected energy of the solar collector with limited area on the horizontal plane is established.Two different optimized models including the cost benefit model and the minimum annual auxiliary heating energy model are conducted in this paper.The results show that,the collected energy in a year could increase with the increase of the number of collector rows.And the collected solar radiation in a year increases firstly and then decreases with the increase of the collector tilt angles.Furthermore,the collected solar radiation in a year increases firstly and then decreases with the continuous increase of the azimuth angles from -90° to 90°.Taking Nanjing city of China as an example,based on the optimized objective of maximum benefit,the optimal layout of the solar collector array in the area of 200 m2 should include:the number of collector rows is 8,the tilt angle is 40° and the azimuth angle is 0°.Meanwhile,the optimal methods for the optimized objective of minimum annual auxiliary heating energy should include:the number of collector rows is 9,the tilt angle is 50°,and the azimuth angle is 0°.展开更多
文摘By the end of the century, the reform and development of China’s state-owned enterprises will create new prospects. The reform of state-owned foreign economic and trade enterprises should also see further breakthroughs. At present, the following aspects are important: 1. Implement a Holdings System in the Reform of State-owned Foreign Economic and Trade Enterprises. The holdings system plays a major role in transferring the management mechanism of state-owned foreign economic and
基金the National Natural Science Foundation of China(No.72002213)Rui Ruan's research was supported by the National Natural Science Foundation of China(No.72303266)+1 种基金the Program for Innovation Research at Central University of Finance and Economics(CUFE)the Program for Innovation Research at Center for China Fiscal Development at CUFE.
文摘China has many state-owned enterprises(SOEs)and they have accounted for a large proportion of China's GDP over the last four decades.China's rapid growth contradicts literature that focuses on the inefficiency of SOEs.This study shows that,in periods of economic policy uncertainty(EPU),SOEs have performed a special function as"macroeconomic stabilizers."Using Chinese listed firm data from 2008 to 2019,we investigate five aspects of SOEs'unique functions as macroeconomic stabilizers:employment,investment,growth,financial operation,and expectations.When EPU increased,SOEs had more employment,higher investment expenditure,lower performance volatility,more robust financial structures,and more stable expectations than private firms.We employ the US-China trade war as an exogenous shock on EPU to conduct a difference-in-difference-in-differences approach to mitigate the problem of potentially omitted variables.The findings of this study provide a new perspective to better explain the functions of SOEs in the 21st century.
文摘Considering the influencing factors of the layout of solar collectors such as the tilt angles,azimuth angles,spacing between collectors and the number of collector rows,a mathematical model of the collected energy of the solar collector with limited area on the horizontal plane is established.Two different optimized models including the cost benefit model and the minimum annual auxiliary heating energy model are conducted in this paper.The results show that,the collected energy in a year could increase with the increase of the number of collector rows.And the collected solar radiation in a year increases firstly and then decreases with the increase of the collector tilt angles.Furthermore,the collected solar radiation in a year increases firstly and then decreases with the continuous increase of the azimuth angles from -90° to 90°.Taking Nanjing city of China as an example,based on the optimized objective of maximum benefit,the optimal layout of the solar collector array in the area of 200 m2 should include:the number of collector rows is 8,the tilt angle is 40° and the azimuth angle is 0°.Meanwhile,the optimal methods for the optimized objective of minimum annual auxiliary heating energy should include:the number of collector rows is 9,the tilt angle is 50°,and the azimuth angle is 0°.
