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1 – 10 of over 4000The socialist political economy with Chinese characteristics is a systematic economic discipline, which theoretically summarises the socialist economic system and the path of…
Abstract
Purpose
The socialist political economy with Chinese characteristics is a systematic economic discipline, which theoretically summarises the socialist economic system and the path of economic development with Chinese characteristics. It is a systematic economic theory of adapting Marxism to the Chinese context. The theoretical system construction for the discipline of socialist political economy with Chinese characteristics is currently a major task.
Design/methodology/approach
From the perspective of disciplinary cognition, the theoretical system of the discipline of socialist political economy with Chinese characteristics includes the disciplinary attributes and connotations, theoretical basis, the origin of thoughts, major principles, logical starting point, main logic and problem-based study of major theoretical and practical issues.
Findings
Developing the discipline and building the theoretical system of the socialist political economy with Chinese characteristics, several major principles should be adhered to, including building the socialist political economy with Chinese characteristics on the basis of historical materialism; building the theoretical paradigm of socialist political economy with Chinese characteristics around the analysis of production relations; adhering to the people-centred principle; taking common prosperity as the main logic of the socialist political economy with Chinese characteristics; studying the major theoretical and practical issues of building the socialism with Chinese characteristics in the new era based on problems; and reflecting the innovative development of the discipline in the textbook, The Socialist Political Economy with Chinese Characteristics.
Originality/value
Disciplinary cognition involves the connotations, attributes, mission and development path of the discipline, which is related to how to construct the discipline system and is a significant part of the disciplinary construction.
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Fabian Hänle, Stefanie Weil and Bart Cambré
Nested within institutional theory and the political economy perspective, this study aims to examine Chinese outward foreign direct investments (OFDI)-supporting organizations and…
Abstract
Purpose
Nested within institutional theory and the political economy perspective, this study aims to examine Chinese outward foreign direct investments (OFDI)-supporting organizations and fostering mechanisms for its SMEs in Europe’s largest economy, Germany.
Design/methodology/approach
The authors conduct a multiple-case study to present rich insights from elite interviews with representatives of Chinese and German governmental organizations, intermediary parties and specialized OFDI consultants. In addition, the authors analyze secondary data such as presentations, websites, brochures, social media and recent Chinese OFDI policies for SMEs. The findings are triangulated by interviewing business owners and senior executives of seven Chinese SMEs that have invested in Germany.
Findings
Cooperating with Germany’s federal government, China’s ministries implemented an effective OFDI support network in Germany, which connects and benefits both economies. This includes Chinese governmental organizations, privately-held national champions, German–Chinese business associations and linked intermediary parties. These organizations support SMEs through four main mechanisms: networking and information, mutually beneficial knowledge transfer between innovation partners, lobbying for potential cooperation and an objective picture of Chinese OFDI and facilitating investment services.
Originality/value
This study advances OFDI theory and contributes to the growing discussion on the internationalization of Chinese SMEs by shedding light on China’s OFDI support organizations and mechanisms in the German market. The study also offers practical contributions. Understanding better how governments can spur internationalization is vital, as it determines the effectiveness of policymaking and fosters international mutual understanding, cultural exchange and firm growth and innovation (Ahlstrom, 2010), and hence ultimately contributes positively to society. Moreover, knowing the specific OFDI support organizations and measures China is currently adopting can serve as a helpful orientation for Chinese entrepreneurs who plan to invest in Germany.
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This paper aims to determine the status of the socialist market economy through a logical analysis of the evolution of economic systems in human society.
Abstract
Purpose
This paper aims to determine the status of the socialist market economy through a logical analysis of the evolution of economic systems in human society.
Design/methodology/approach
This paper presents an analysis of uncertainty and the functions performed by different economic systems in managing and resolving it, thereby explaining the evolutionary rationale behind economic system evolution.
Findings
Firstly, the socialist market economy empowers the market to play a decisive role in resource allocation, which serves as the foundation for activating individuals' motivation to engage in economic activities. Secondly, the socialist market economy adheres to the basic socialist economic system, which is the basis for the socialist market economy to stabilize the economy and society or to address the risk of economic uncertainty that may trigger macro-level inconsistencies in economic operations. Thirdly, the advantages of a socialist market economy in adapting to economic uncertainties do not arise spontaneously and must be exerted through continuous improvement of the socialist market economy.
Originality/value
The innovation of this paper lies in introducing uncertainty to clarify the logic behind the evolution of economic systems in human society and explaining the typical significance of the socialist market economy and its advantages in accommodating and resolving uncertainty.
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Since 2017, China's digital economy has accounted for more than 30% of the country's GDP. The digital economy has become the main driving force of China's economic development…
Abstract
Purpose
Since 2017, China's digital economy has accounted for more than 30% of the country's GDP. The digital economy has become the main driving force of China's economic development. Moreover, the digital economy has also changed the traditional modes of production and distribution between urban and rural areas. This paper aims to explore the influential mechanism of digital economy infrastructure (DEI) on the urban-rural income gap (URIG).
Design/methodology/approach
By analyzing the theoretical model of the URIG, this paper constructs a theoretical analysis framework and clarifies the key roles of rural land circulation (RLC) and resident population urbanization (RPU) in the relationship between DEI and the URIG.
Findings
The DEI can effectively reduce the URIG; the regression coefficient (RC) was −0.109. The reduction effect is mainly reflected in: 1) the wage income gap between urban and rural residents (RC = −0.128) and 2) the net property income gap of urban and rural residents (RC = −0.321). Also, for the spatial spillover effect, the path effect of “DEI – RLC – URIG” is almost equal to the path effect of “DEI – RPU – URIG”; for the local effect, the path effect of the former is far smaller than the latter. Moreover, when the RPU reaches the threshold of 86.29%, the DEI will expand the URIG (RC = 0.201).
Originality/value
This paper proposes a theoretical framework for the impact of DEI on the URIG, explores the mechanism of RLC and RPU in the DEI and URIG and enriches the theory of traditional research on URIG.
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This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
Appointing female executives can significantly improve the wellbeing and performance of female members of staff, as well as the overall performance of firms from a non-monetary perspective.
Originality/value
The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.
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This ultra-low inflation environment poses new challenges for China's development prospects. It underscores mounting structural problems and weakens the confidence of consumers…
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DOI: 10.1108/OXAN-DB286177
ISSN: 2633-304X
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Geographic
Topical
This study explores the effect of mergers and acquisitions (M&As) on corporations' environmental, social and governance (ESG) performance and values in the Chinese financial…
Abstract
Purpose
This study explores the effect of mergers and acquisitions (M&As) on corporations' environmental, social and governance (ESG) performance and values in the Chinese financial market.
Design/methodology/approach
This study collected data covering 158 Chinese listed companies that have successfully completed at least one M&A activity between 2011 and 2020. Fixed effect and random models based on the Hausman test are adopted to mitigate potential heterogeneity issues in the selection.
Findings
Results show that acquiring targets with high ESG performance can help increase their own ESG performance, which in turn increases their market values. Heterogeneity and robustness tests also provide consistent results. Findings further confirm the bidirectional correlation between ESG and M&As, and then enrich related literature by suggesting the importance of utilizing M&As as a driver to increase corporate ESG performance.
Originality/value
This study embodies the practical implications of ESG and M&A. Managers, investors and policymakers can highly benefit from the results through practical applications.
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Yusi Jiang, Chuanjia Li and Yapu Zhao
This study aims to explore the relationship between network position and innovation under major environmental turbulence.
Abstract
Purpose
This study aims to explore the relationship between network position and innovation under major environmental turbulence.
Design/methodology/approach
The authors use a difference-in-differences identification approach using the 2009 Industry Revitalization Plan in response to the global financial crisis as a natural experiment with a sample of Chinese listed firms from 2001 to 2017.
Findings
The findings show that a major environmental turbulence can facilitate firm innovation, and firms that occupy central positions in the interlock network show worse innovation performance while firms with high brokerage show better innovation performance.
Originality/value
The literature on environmental implication has largely focused on the threats and overlooked the potential opportunities. Moreover, social network literature has elaborated on the benefits and constraints of network positions from a static perspective but largely overlooked their implications facing environmental change. By exploring the bright side of major environmental turbulence and including this factor as a key contingency in exploring the effects of centrality and brokerage, this study integrates external environmental context with social network research and provides empirical evidence responding to the call for more attention to network dynamics and extends our understanding of the context-contingent network effects on firm innovation.
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Irina Alexandra Georgescu, Simona Vasilica Oprea and Adela Bâra
In this paper, we aim to provide an extensive analysis to understand how various factors influence electricity prices in competitive markets, focusing on the day-ahead electricity…
Abstract
Purpose
In this paper, we aim to provide an extensive analysis to understand how various factors influence electricity prices in competitive markets, focusing on the day-ahead electricity market in Romania.
Design/methodology/approach
Our study period began in January 2019, before the COVID-19 pandemic, and continued for several months after the onset of the war in Ukraine. During this time, we also consider other challenges like reduced market competitiveness, droughts and water scarcity. Our initial dataset comprises diverse variables: prices of essential energy sources (like gas and oil), Danube River water levels (indicating hydrological conditions), economic indicators (such as inflation and interest rates), total energy consumption and production in Romania and a breakdown of energy generation by source (coal, gas, hydro, oil, nuclear and renewable energy sources) from various data sources. Additionally, we included carbon certificate prices and data on electricity import, export and other related variables. This dataset was collected via application programming interface (API) and web scraping, and then synchronized by date and hour.
Findings
We discover that the competitiveness significantly affected electricity prices in Romania. Furthermore, our study of electricity price trends and their determinants revealed indicators of economic health in 2019 and 2020. However, from 2021 onwards, signs of a potential economic crisis began to emerge, characterized by changes in the normal relationships between prices and quantities, among other factors. Thus, our analysis suggests that electricity prices could serve as a predictive index for economic crises. Overall, the Granger causality findings from 2019 to 2022 offer valuable insights into the factors driving energy market dynamics in Romania, highlighting the importance of economic policies, fuel costs and environmental regulations in shaping these dynamics.
Originality/value
We combine principal component analysis (PCA) to reduce the dataset’s dimensionality. Following this, we use continuous wavelet transform (CWT) to explore frequency-domain relationships between electricity price and quantity in the day-ahead market (DAM) and the components derived from PCA. Our research also delves into the competitiveness level in the DAM from January 2019 to August 2022, analyzing the Herfindahl-Hirschman index (HHI).
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Muzffar Hussain Dar and Md. Zulquar Nain
This study examines the possibility of asymmetric impact of inflation on the financial development (FD) in the case of Indian economy from 1980 to 2020. Moreover, the…
Abstract
Purpose
This study examines the possibility of asymmetric impact of inflation on the financial development (FD) in the case of Indian economy from 1980 to 2020. Moreover, the finance–growth hypothesis is also tested.
Design/methodology/approach
The authors incorporated the “Nonlinear Autoregressive Distributed Lag” (NARDL) model due to Shin et al. (2014) to investigate the asymmetric impact of inflation on financial development. Asymmetric cumulative dynamic multipliers are also used to track the traverse of any short-run distortion towards the long-run cointegration.
Findings
The results revealed that inflation impacts the financial development negatively whereas the economic growth (EG) and trade openness have a positive effect. However, the effect of inflation on financial development is not symmetric. Moreover, the findings support the demand-led growth hypothesis.
Originality/value
To the best of the authors' knowledge, this is the first study examining the asymmetric effects of inflation on financial development in the Indian context. In addition, instead of using a single proxy to measure financial development, an index for financial development encompassing different aspects of the financial system has been incorporated.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-02-2023-0094
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