It has been commonly recognized that the cooperative finance organizations in China's rural areas have been playing an important role in spreading farm production risks, increasing farmers' income, as well as ...It has been commonly recognized that the cooperative finance organizations in China's rural areas have been playing an important role in spreading farm production risks, increasing farmers' income, as well as stimulating the overall rural economic growth. This paper attempted to identify the key factors which potentially contributed to the farmers' willingness to participate in the new-form of the rural cooperative finance organizations sponsored by the Chinese governments. In the process, a total of 442 farmer households as well as small-micro farming enterprises were sampled from the villages in Panjin municipality of Liaoning Province in China, where the new form of the rural cooperative finance organization(NFRCFO) experiment was under way. Those potential factors were classified into the four categories, including the characteristics of the famer households, the reputation of the rural finance cooperatives, transaction costs paid, as well as service quality. A discrete Logit model was used for parameter estimations. The results showed that most of the factors being considered exhibited statistically significant effects on the farmers' willingness to take part in NFRCFO, but with each presenting different levels of impacts. The causes and effects for those uncovered empirical results were fully discussed following by policy implication discussion.展开更多
Background The China Finance Review International is a flagship academic journal broadly covering the Chinese and international financial markets.The journal is founded by Antai College of Economics and Management at ...Background The China Finance Review International is a flagship academic journal broadly covering the Chinese and international financial markets.The journal is founded by Antai College of Economics and Management at Shanghai Jiao Tong University,one of the top universities in Asia.The China Finance Review International aims to publish quality empirical and theoretical works on important financial and economic issues in the profession.We encourage ground-breaking research related to new and niche areas in finance,such as Fintech and cryptos,ESG,climate finance,and socially responsible investments.We welcome critiques of existing literature and comparative analysis between emerging markets and developed economies.展开更多
China Finance Review International*published by Emerald Publishing in cooperation with the Antai College of Economics and Management at Shanghai Jiao Tong University publishes academic writings by scholars from China ...China Finance Review International*published by Emerald Publishing in cooperation with the Antai College of Economics and Management at Shanghai Jiao Tong University publishes academic writings by scholars from China and globally.It is the wish of the Editorial Board that discussions and debates published in the journal will have strong impact on China’s economic and financial policy-making processes,the development of the finance and ecor omics discipline and on developing countries hoping to learn from China’s financial and economic development.展开更多
China Finance Review International,published by Emerald Publishing in cooperation with the Antai College of Economics and Management at Shanghai Jiao Tong University publishes academic writings by scholars from China ...China Finance Review International,published by Emerald Publishing in cooperation with the Antai College of Economics and Management at Shanghai Jiao Tong University publishes academic writings by scholars from China and globally. It is the wish of the Editorial Board that discussions and debates published in the journal will have strong impact on China’s economic and financial policy-making processes,the development of the finance and economics discipline and on developing countries hoping to learn from China’s financial and economic development.展开更多
It is obvious that the change trend of our government expenditure scale declined constantly .The expenditure proportion of science, education, culture and hygiene increased fast, reflected the situation that the finan...It is obvious that the change trend of our government expenditure scale declined constantly .The expenditure proportion of science, education, culture and hygiene increased fast, reflected the situation that the finance of our country was transformed into “public finance” from “building type finance” gradually.The expenditure proportion of the local is higher than central authorities. This is disadvantageous for our country’s economy development and society stability.展开更多
With the rapid development of Chinese economy, the question of credit is becoming more and more important. Especially in China rural area, building a new socialist countryside needs the support of finance. While as we...With the rapid development of Chinese economy, the question of credit is becoming more and more important. Especially in China rural area, building a new socialist countryside needs the support of finance. While as we all known, the financial system in rural area is not effective enough to promote the productivity and the level of welfare of household.展开更多
This paper is devoted to study the multiobjective system programming under the assumption that some of the problem parameters are random variables. A method called Interactive Reference Goal Satisfied Degree and Feasi...This paper is devoted to study the multiobjective system programming under the assumption that some of the problem parameters are random variables. A method called Interactive Reference Goal Satisfied Degree and Feasible Degree (IRGSD-FD) is developed to solve stochastic multiobjective problems. It is an interactive method providing a so-called `dialogue' between the user and the model, the decision maker having the option conducting the search process for the (α, β)-efficient solutions by modifying the initial conditions according to the partial results obtained. During the iterations, the decision maker can improve upon the reference goal or called aspiration level already attained by one objective function as well as upon the probability of reaching the corresponding objective or called satisfied degree (or both), or/and the probability of satisfying the constraint or called feasible degree already attained by the constraint. Finally, the application of IRGSD-FD method in the resource allocation problem is discussed with a case study for project investment management.展开更多
940189西班牙提供建造渔船的财经援助=Spain to finance fishing vessels[刊,英]//Wf..—1993,42(6).—73西班牙将借给印度尼西亚2亿美元作为设计和建造47艘渔船的贷款项目。该国造船厂还将提供组件、船用设备给印尼去组装这些船泊,其...940189西班牙提供建造渔船的财经援助=Spain to finance fishing vessels[刊,英]//Wf..—1993,42(6).—73西班牙将借给印度尼西亚2亿美元作为设计和建造47艘渔船的贷款项目。该国造船厂还将提供组件、船用设备给印尼去组装这些船泊,其目的是作为西班牙一项主要促进和开发国外工程活动的一部分。这47艘渔船将在印尼南苏拉威西的一家船厂建造,工程计划在今年底开始,于1995年完成。西班牙的这项援助分三个阶段,总投资为6亿美元,旨在帮助印尼的渔业上一个新台阶。全部工程包括有建造渔船、冷冻设备、船厂装备以及技术转让。发展的现代化渔船,以适应在印尼东部水域进行生产作业。展开更多
On August 2, European Community finance ministers, in last-ditch talks in Brussels to save the Exchange Rate Mechanism from collapse, established fluctuation bands of 15 per cent for all member currencies with the exc...On August 2, European Community finance ministers, in last-ditch talks in Brussels to save the Exchange Rate Mechanism from collapse, established fluctuation bands of 15 per cent for all member currencies with the exception of the German mark and the Dutch guilder, which will retain the old 2.25 per cent bands. US President Bill Clinton won passage of his deficit-reduction plan from a deeply divided Congress on August 6, prevailing 51-50 in a Senate showdown. The bill, with claimed deficit savings of $496 billion over five years, cleared the House on a 218-216 vote on August 5. Clinton signed it into law on August 10.展开更多
Solving the financing problem in rural areas and improving the level of economic development in rural areas become important guarantees for the expansion of domestic demand. This research, through studying the current...Solving the financing problem in rural areas and improving the level of economic development in rural areas become important guarantees for the expansion of domestic demand. This research, through studying the current situation of rural financing, pointed out the main factors restricting the financing in rural areas, such as high risk credit, slow income growth, high financing cost and difficult mortgage and guaranteed loans. Based on those, the author worked out the objectives and direction of China＇s rural financing reform, from two aspects of path selection of reform and innovation and specific embodiments for adjusting the overall reconstruction, and put forward some relevant countermeasures.展开更多
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 ef...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.展开更多
Financing difficulties have always been one of the bottlenecks restricting the development of"three rural".The core to solve the difficulties is to seek financing collaterals that in line with the law and wi...Financing difficulties have always been one of the bottlenecks restricting the development of"three rural".The core to solve the difficulties is to seek financing collaterals that in line with the law and with the value able to be effectively evaluated.Besides,the law confirmation of the mortgage financing's form for Rural Land ManagementRight(RLMR)is the primary prerequisite for rural land financing.With the continuous advancement of rural revitalization strategy,the rural land reform with the main content of"three powers separation"has paid more attention to the functions of RLMR financing.Due to the lack of supply of existing laws,there are still certain legal risks in the financing of RLMR.Based on rural revitalization strategy,this paper made an in-depth analysis of the causes of financing risk of RLMR.Furthermore,we put forward some possible paths to legalize this right.展开更多
In the process of industrialization, China has been a big agricultural country, and the agricultural sector＇s economic activities have been playing important role in economic growth. This paper established the invest...In the process of industrialization, China has been a big agricultural country, and the agricultural sector＇s economic activities have been playing important role in economic growth. This paper established the investment behavior model of agricultural enterprises on the basis of Chinese practice. And then, the model presented the important factors impacting on investment, such as financing cost, wage, and policy factors, etc. Thirdly, this paper in particular used R-studio to estimate the impact of fmancing cost and policy factor on investment and capital accumulation of primary industry sector by gathering the data from 2003 to 2013. The results showed that the official interest rate of loans of financial institutions could be the proxy variable as the financing cost of agricultural enterprises, and the employment level of agricultural enterprises had negative impact on investment. Finally, this paper provided some explanations and suggestions on the basis of above results.展开更多
Stage-investing strategy is a primary measure to mitigate asymmetric information during equity investment. This paper attempts to investigate the problem faced by equity investors wishing to make optimal investment de...Stage-investing strategy is a primary measure to mitigate asymmetric information during equity investment. This paper attempts to investigate the problem faced by equity investors wishing to make optimal investment decision under stage-investing strategy. A serial investment-decision making model will be designed to help investors to take the best choice.展开更多
In recent years,academic attention has been focused on the perfecting policies and service system to support the devel-opment of SMEs.Collection of annuity and Collection of Financing could be a breakthrough,and both ...In recent years,academic attention has been focused on the perfecting policies and service system to support the devel-opment of SMEs.Collection of annuity and Collection of Financing could be a breakthrough,and both are the system designed for SMEs and help break the obstacles on the road ahead and eventually promote the development of SMEs.Is there the link in the design between Collection of Annuity and Collection of Financing?Can they emulate each other and have mutual coordinating development?This paper discussed some issues on it.This paper firstly compares some policy conditions on setting Collection of Annuity plan and implementing Collection of Financing,and then analyzes development and existing problems on Collection of Annuity and Collection of Financing.In the last part,Linkage Mechanism was proposed for building Collection of Annuity and Collection of Financing,which in-cludes Collection Object Linkage,Pension Payment and Collection Financing Linkage,Annuity and Product Design and Capital Market Financing Linkage,ete.展开更多
基金Supported by the Department of Ocean and Fishery Management in Liaoning Province(201738)
文摘It has been commonly recognized that the cooperative finance organizations in China's rural areas have been playing an important role in spreading farm production risks, increasing farmers' income, as well as stimulating the overall rural economic growth. This paper attempted to identify the key factors which potentially contributed to the farmers' willingness to participate in the new-form of the rural cooperative finance organizations sponsored by the Chinese governments. In the process, a total of 442 farmer households as well as small-micro farming enterprises were sampled from the villages in Panjin municipality of Liaoning Province in China, where the new form of the rural cooperative finance organization(NFRCFO) experiment was under way. Those potential factors were classified into the four categories, including the characteristics of the famer households, the reputation of the rural finance cooperatives, transaction costs paid, as well as service quality. A discrete Logit model was used for parameter estimations. The results showed that most of the factors being considered exhibited statistically significant effects on the farmers' willingness to take part in NFRCFO, but with each presenting different levels of impacts. The causes and effects for those uncovered empirical results were fully discussed following by policy implication discussion.
文摘Background The China Finance Review International is a flagship academic journal broadly covering the Chinese and international financial markets.The journal is founded by Antai College of Economics and Management at Shanghai Jiao Tong University,one of the top universities in Asia.The China Finance Review International aims to publish quality empirical and theoretical works on important financial and economic issues in the profession.We encourage ground-breaking research related to new and niche areas in finance,such as Fintech and cryptos,ESG,climate finance,and socially responsible investments.We welcome critiques of existing literature and comparative analysis between emerging markets and developed economies.
文摘China Finance Review International*published by Emerald Publishing in cooperation with the Antai College of Economics and Management at Shanghai Jiao Tong University publishes academic writings by scholars from China and globally.It is the wish of the Editorial Board that discussions and debates published in the journal will have strong impact on China’s economic and financial policy-making processes,the development of the finance and ecor omics discipline and on developing countries hoping to learn from China’s financial and economic development.
文摘China Finance Review International,published by Emerald Publishing in cooperation with the Antai College of Economics and Management at Shanghai Jiao Tong University publishes academic writings by scholars from China and globally. It is the wish of the Editorial Board that discussions and debates published in the journal will have strong impact on China’s economic and financial policy-making processes,the development of the finance and economics discipline and on developing countries hoping to learn from China’s financial and economic development.
文摘It is obvious that the change trend of our government expenditure scale declined constantly .The expenditure proportion of science, education, culture and hygiene increased fast, reflected the situation that the finance of our country was transformed into “public finance” from “building type finance” gradually.The expenditure proportion of the local is higher than central authorities. This is disadvantageous for our country’s economy development and society stability.
基金Heilongjiang Social and Science Project(06DO18)Educational Bureau of Heilongjiang Province(11522081)
文摘With the rapid development of Chinese economy, the question of credit is becoming more and more important. Especially in China rural area, building a new socialist countryside needs the support of finance. While as we all known, the financial system in rural area is not effective enough to promote the productivity and the level of welfare of household.
文摘This paper is devoted to study the multiobjective system programming under the assumption that some of the problem parameters are random variables. A method called Interactive Reference Goal Satisfied Degree and Feasible Degree (IRGSD-FD) is developed to solve stochastic multiobjective problems. It is an interactive method providing a so-called `dialogue' between the user and the model, the decision maker having the option conducting the search process for the (α, β)-efficient solutions by modifying the initial conditions according to the partial results obtained. During the iterations, the decision maker can improve upon the reference goal or called aspiration level already attained by one objective function as well as upon the probability of reaching the corresponding objective or called satisfied degree (or both), or/and the probability of satisfying the constraint or called feasible degree already attained by the constraint. Finally, the application of IRGSD-FD method in the resource allocation problem is discussed with a case study for project investment management.
文摘940189西班牙提供建造渔船的财经援助=Spain to finance fishing vessels[刊,英]//Wf..—1993,42(6).—73西班牙将借给印度尼西亚2亿美元作为设计和建造47艘渔船的贷款项目。该国造船厂还将提供组件、船用设备给印尼去组装这些船泊,其目的是作为西班牙一项主要促进和开发国外工程活动的一部分。这47艘渔船将在印尼南苏拉威西的一家船厂建造,工程计划在今年底开始,于1995年完成。西班牙的这项援助分三个阶段,总投资为6亿美元,旨在帮助印尼的渔业上一个新台阶。全部工程包括有建造渔船、冷冻设备、船厂装备以及技术转让。发展的现代化渔船,以适应在印尼东部水域进行生产作业。
文摘On August 2, European Community finance ministers, in last-ditch talks in Brussels to save the Exchange Rate Mechanism from collapse, established fluctuation bands of 15 per cent for all member currencies with the exception of the German mark and the Dutch guilder, which will retain the old 2.25 per cent bands. US President Bill Clinton won passage of his deficit-reduction plan from a deeply divided Congress on August 6, prevailing 51-50 in a Senate showdown. The bill, with claimed deficit savings of $496 billion over five years, cleared the House on a 218-216 vote on August 5. Clinton signed it into law on August 10.
文摘Solving the financing problem in rural areas and improving the level of economic development in rural areas become important guarantees for the expansion of domestic demand. This research, through studying the current situation of rural financing, pointed out the main factors restricting the financing in rural areas, such as high risk credit, slow income growth, high financing cost and difficult mortgage and guaranteed loans. Based on those, the author worked out the objectives and direction of China＇s rural financing reform, from two aspects of path selection of reform and innovation and specific embodiments for adjusting the overall reconstruction, and put forward some relevant countermeasures.
基金Supported by the Sociology Scientific Fund of Heilongjiang Province(12C033)
文摘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.
基金A phasic achievement of the Ministry of Education Youth Fund Project named “Law Research on Online Transaction of Rural Land Management Right under the Background of Rural Revitalization Strategy”(Project No.18yjc820001)funded by the China Scholarship Council(Project No.201907845009)
文摘Financing difficulties have always been one of the bottlenecks restricting the development of"three rural".The core to solve the difficulties is to seek financing collaterals that in line with the law and with the value able to be effectively evaluated.Besides,the law confirmation of the mortgage financing's form for Rural Land ManagementRight(RLMR)is the primary prerequisite for rural land financing.With the continuous advancement of rural revitalization strategy,the rural land reform with the main content of"three powers separation"has paid more attention to the functions of RLMR financing.Due to the lack of supply of existing laws,there are still certain legal risks in the financing of RLMR.Based on rural revitalization strategy,this paper made an in-depth analysis of the causes of financing risk of RLMR.Furthermore,we put forward some possible paths to legalize this right.
文摘In the process of industrialization, China has been a big agricultural country, and the agricultural sector＇s economic activities have been playing important role in economic growth. This paper established the investment behavior model of agricultural enterprises on the basis of Chinese practice. And then, the model presented the important factors impacting on investment, such as financing cost, wage, and policy factors, etc. Thirdly, this paper in particular used R-studio to estimate the impact of fmancing cost and policy factor on investment and capital accumulation of primary industry sector by gathering the data from 2003 to 2013. The results showed that the official interest rate of loans of financial institutions could be the proxy variable as the financing cost of agricultural enterprises, and the employment level of agricultural enterprises had negative impact on investment. Finally, this paper provided some explanations and suggestions on the basis of above results.
文摘Stage-investing strategy is a primary measure to mitigate asymmetric information during equity investment. This paper attempts to investigate the problem faced by equity investors wishing to make optimal investment decision under stage-investing strategy. A serial investment-decision making model will be designed to help investors to take the best choice.
文摘In recent years,academic attention has been focused on the perfecting policies and service system to support the devel-opment of SMEs.Collection of annuity and Collection of Financing could be a breakthrough,and both are the system designed for SMEs and help break the obstacles on the road ahead and eventually promote the development of SMEs.Is there the link in the design between Collection of Annuity and Collection of Financing?Can they emulate each other and have mutual coordinating development?This paper discussed some issues on it.This paper firstly compares some policy conditions on setting Collection of Annuity plan and implementing Collection of Financing,and then analyzes development and existing problems on Collection of Annuity and Collection of Financing.In the last part,Linkage Mechanism was proposed for building Collection of Annuity and Collection of Financing,which in-cludes Collection Object Linkage,Pension Payment and Collection Financing Linkage,Annuity and Product Design and Capital Market Financing Linkage,ete.
