Main Factor Analysis on the Sustainable Growth of the Public Companies in China

With the sample of Chinese A-stock public companies which appear on Stock Exchange of Shanghai and Shenzhen before 1994,and by using the factor method and regression,this paper finds out and explains the equilibrium relation among sustainable growth of Chinese public companies,profitability and capability of debt-repayment and capability of operation. This paper discover: (1)The sustainable growth rate of a public company is in inverse proportion to asset-debt ratio, but in direct proportion to current debt ratio as well as acid test ration. (2)There is a positive correlation between the sustainable growth rate of a public company and its profitability. That's to say, the higher earning rate, the higher sustainable growth rate.(3)The sustainable growth rate of all public firms other than those of the commerce industry is positively correlated to the growth capacity.(4)Apart from the commerce industry, there is a positive correlation between the sustainable growth and the operation capability of the public companies, regardless of their integral sample, industries sample and scale sample.     

An Empirical Research on the Relationship Between the Manager Pay and Firm Performance of Chinese Public Companies

This paper introduces the theory and research result on the manager pay. The mutual effect between manager pay firm performance is analyzed, and the managerial shareholding has no significant effect on firm performance, but the managerial annual pay has significant positive effect on the firm performance in Chinese public companies. It is found that the board structure and the owner nature have different effect to the style of manager payment. Finally, we put forward some feasible suggestion of buillding up a set of payment mechanism for Chinese public companies.     

An Empirical Study on the Relationship between Diversification and Economic Performance of Listed Corporations of China

It is crucial for corporations to select a proper development mode in competitive market. Diversification has been one of the most popular development modes that corporations all over the world pursued since 1960's. The relationship between diversification and economic performance is also an important subject for the research in strategic management. This paper re-examines the economic performance of China listed corporations and designs the measure index system of diversification strategy and economic performance. Moreover, it adopts empirical study on the relationship between them through the approaches such as regression model, variance analysis. It attempts to seek for the diversification development mode fit for China corporations so as to enhance economic performance.     

农业上市公司周内效应实证研究

运用广义误差分布的GARCH（1,1）模型,基于“牛市”和“熊市”行情,实证分析农业上市公司周内效应。主要结论有：农业上市公司日收益率存在周一效应和周五效应。 “牛市”中显著为正,“熊市”中显著为负。最后提出政策建议。     

Empirical Study on Capital Structure Character and Influence Factors of Chinese Listed Corporate

Affter the MM theorem is born,economists always highlight the corporate capital structure theory.With the development of china capital market and corporate reform,it is very important to do the capital structure reaserch on Chinese listed corporate.The authors summarize the capital structure character of Chinese listed corporate,reaserches the internal&external influence factors on corporate capital structure,does a empirical test and analysis on these internal influence factors,and finds some findings that are differental from overseas reaserch.     

非洲猪瘟疫情对生猪产业链上市公司市场价值的影响研究

[目的] 研究旨在应用实证方法分析非洲猪瘟疫情对生猪产业链上市公司市场价值造成的影响,进而得出疫情对生猪产业链上养殖、屠宰、加工、消费等环节利益相关者收益的影响。[方法]采用事件研究法,选取涉及生猪产业链上市公司,按主营业务统计为肉制品加工、养殖、饲料和兽药4种类型的32家相关上市公司,通过设计指标对生猪产业链上市公司股票异常收益率波动进行计算和检验。[结果]研究结果表明：非洲猪瘟疫情事件对生猪养殖行业的影响最大;对兽药行业的影响周期最长;肉制品加工行业的影响程度和周期仅次于兽药行业,对饲料行业的影响最小。[结论] “非洲猪瘟”事件对猪产业链上的饲料、养殖、肉制品加工、兽药类上市公司市场价值存在显著的负面影响。     

亚热带地区灌丛草地可持续利用研究

本研究对灌丛草地可持续利用方面进行研究,目的是为了指导生产,更加合理的利用灌丛草地。于1999年和2000年在湖北省长阳县贺家坪天然灌丛草地上进行。山羊放牧试验分为三个处理：对照、轻牧和重牧。禾草、杂类草、灌木以及灌丛草地植物群落的总体保护指标分别为786.8、360.3、394.6和1541.6 (DM?kg/hm2)。如以生物量作为灌丛草地保护指标的衡量标准,优势灌木植物白栎、麻栎、美丽胡枝子和盐肤木的总体保护指标分别为152.7、43.4、33.5和36 (DM?kg/hm2)。优势草本植物芒、黄背草、东方草莓和宜昌飘拂草的总体保护指标分别为525.2、176.8、15.2和84.8 (DM?kg/hm2)。根据产草量与对应保护指标的大小关系调整灌丛草地利用方式,从而实现可持续利用。     

Empirical Study of the Support System of New Venture Creation

The Support System of New Venture Creation is the main parts of national and regional innovation system. At presently ,many study on the Support System are from angle of view of the macro or government ,little study from the New Venture. University Science Park in China have enough New Venture which can be the representation of New Venture Creation. The authors study the former theory ,use the method of Empirical Study, Based on the questionnaire investigation of Chongqing University Science Park, analyze different requirements of the enterprises in different sizes and different stages, and bring forward some advises.     

农业上市公司董事会特征对会计盈余信息含量影响的实证分析

考察农业上市公司董事会特征对于会计盈余信息含量的影响。通过实证研究发现：董事会规模、独立董事比例,以及董事会持股比例对会计盈余信息含量具有显著影响;董事会的会议频率和审计委员会的设立与否对会计盈余信息含量没有显著的影响。     

农业上市公司审计定价影响因素的实证分析

选择农业上市公司2001年至2008年作为数据窗口,共216混合样本,对影响农业上市公司审计定价的内外部因素进行理论分析和实证检验。研究结果表明：公司总资产规模和董事会规模是影响农业事实上公司审计定价的主要因素,公司总资产规模和董事会规模越大,审计定价越高;公司经营业务种类越多、负债水平越高,审计定价越高。会计师事务所特征和地区外部治理环境也是影响审计定价的重要因素,综合评价排名居前、审计质量高的事务所审计定价较高;农业上市公司所处地区的市场化程度越高,审计定价越高,地区法治化水平越高,审计定价越低。根据研究结论,本文提出相关对策建议。     

An Empirical Study on the Relationship between Economic Growth and Financial Development

This paper discusses the relationship between financial development and economic growth. Some essential Chinese macroeconomic datum during late twenty years which include Gross Domestic Product (GDP) of the whole economy,state and private sectors,investment in fixed Assets,financial relative rate and real interest rate estimated in a multivariate vector auto regression (VAR) framework. The estimates suggest that financial development boosts GDP growth, and it does not exist in reverse.     

Sustainable Spatial Growth Model Study in Middle-small Scale Urban Agglomeration

Based on the study of economy development background and character in JINHUA region, with the analysis of six classical spatial growth models and the elaboration of evolution process in JINHUA urban agglomeration, the authors think a sustainable spatial growth model should be as the following forms, some cities were polycentricities, some were sole-core compact cities, and the whole was polycentric urban region.     

Theory and Empirical Study on Distribution and Growth Based on Borrowing Constraints

This paper develops an endogenous model to study the effect of income distribution on growth based upon the Credit Market Imperfection .The model shows that initial inequality is harmful for growth when credit constraints are binding. The Fesults of testing the effect of income distribution on growth using cross-section data at the provincial level of China show that inequality is harmful for growth , human capital especially above primer and secondary male human capital improves growth.     

农民专业合作社法立法完善需求的实证研究

为了使《农民专业合作社法》促进农民专业合作社的发展。以农民专业合作社为视角,探究他们在组织、运行中存在的问题是检验现行立法实施效果,并为立法完善提供着力点和目标方向的重要途径。从河北省内丘县农民专业合作社发展的调查来看,在其运行中存在着发展不平衡、管理不规范、融资渠道不畅、规模较小等问题。相应地《农民专业合作社法》应该从立法技术、制度设计上有所回应和调整。     

An Empirical Study and Forecast of the Cyclic Fluctuation of Real Estate Investment in China

As one of the key factors affecting the real estate,the development investment exerts leading influence on the real estate industry,which has become the pillar industry in the economic development of China.This paper aims to show the evolution route,the inner rule and the mechanism of the cyclic fluctuation of the real estate investment in China,and to give a reasonable short-term forecast of the investment based on the establishment of the ARIMA model,in order to contribute to a nicer performance of the industry in the future.     

Empirical Sudy on Loyalty Education Solution Model for Enterprise Employees

Loyalty is a good character that a person is loyal to his enterprise's goal,symbol and aim.The employee who has high loyalty is a very important basement to efficiency and competency to the development for the enterprises.The authors use ingredient analysis method to deal with the data collected from questionnaires done by 225 enterprise employees,and put forward Eight-factor model of loyalty education solution to enterprise employees.Based on this model,the study compares the differences of the eight factors to enterprise male and female employees and employees in both state-owned enterprise and privately owned enterprise,but also discovers the differences between the employees mentioned above.     

泽州县农业资源与农业可持续发展探讨

泽州县是农业大县,农业资源丰富,如何开发利用用好这一优势,对于建设泽州县社会主义新农村具有十分重大和深远的意义。从农业资源的角度出发,对该县农业可持续发展的现状和存在问题进行了深入的探讨,提出了该县进行农业可持续发展的对策。     

中国水资源可持续发展的对策与建议

为了进一步促进水资源可持续发展,笔者通过对中国水资源现状的调研分析,借鉴发达国家经验和前人研究成果,以系统性、前瞻性和综合性为视角,将水资源的开发、保护、管理和应用等与水资源立法、行政管理、科技创新、理念转变、全民行为等有机融合,提出了促进水资源可持续发展的对策和建议。笔者认为,进一步加快水资源立法进程、规范和完善管理机制,依靠科技进步,把握科学发展理念,促进水资源开发与管理水平升级,是实现水资源可持续利用,支撑社会经济可持续发展的基本要求和制度保证;不断改善水环境条件和用水理念,倡导“建设节约型社会”,以“节流、控污、开源”应对水资源发展,采取一系列措施,实现全民行动,营造一个全社会对水资源高效利用与科学管理的氛围,这是促进水资源可持续利用,长期惠及世界生灵的有效手段和根本保证;当制度和行为变为高度统一,综合手段同步发挥作用时,水资源才会真正富有涵养,水资源才会体现出人们科学开发、高效利用、系统治理和有效保护的真正效能。这是中国治水策略重大调整的核心和关键。     

A Study of the Index System for Sustainable Development of a Town

The sustainable development of a town is a comprehensive concept often considered in terms of several aspects such as economical, environmental, ecological, social and cultural. In this paper, the index system for sustainable development of a town is set up from three aspects: economical, social life and resource and environment, taking account of the situation in China. Finally, a pilot study is carried out with a town in Chongqing as an example, an evaluation system of sustainable development is developed for efficient and accurate evaluation of the development of a town.