Economic and Political Studies-EPS最新文献_第4页

Are transactional political connections more valuable to firms than relational political connections? 交易型政治关系对企业来说比关系型政治关系更有价值吗？

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-07-03 DOI: 10.1080/20954816.2022.2098595

Taufiq Arifin, R. Kabir, Katherin Marthon, S. Sutaryo

{"title":"Are transactional political connections more valuable to firms than relational political connections?","authors":"Taufiq Arifin, R. Kabir, Katherin Marthon, S. Sutaryo","doi":"10.1080/20954816.2022.2098595","DOIUrl":"https://doi.org/10.1080/20954816.2022.2098595","url":null,"abstract":"Abstract Political connections are an increasingly important part of firms’ strategies to develop relationships with the government and politicians. This study examines the impact of transactional and relational political connections on firm value. The results show that transactionally connected firms are more likely to exhibit greater firm value than their relationally connected and non-connected counterparts. This study further finds evidence of a long-term value-enhancing effect of the transactional approach to political connections. A variety of robustness tests with alternative model specifications continue to show that transactional political connections lead to higher firm value. The findings indicate that firms with transactional political connections are provided with better networks with the political regime in power compared with those with relational political connections. These transactionally connected firms may enjoy preferential treatment from the government, in the form of lower taxes, and the access to government loans, subsidies, bailouts, and/or procurement contracts.","PeriodicalId":44280,"journal":{"name":"Economic and Political Studies-EPS","volume":"10 1","pages":"266 - 278"},"PeriodicalIF":2.4,"publicationDate":"2022-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49552424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Three Links policy and stock returns 三通政策与股票回报

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-07-03 DOI: 10.1080/20954816.2022.2090095

Allen Lin, Steven B. Raymar

引用次数: 0

Upstream SOEs in the mixed-ownership reform 混合所有制改革中的上游国有企业

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-06-13 DOI: 10.1080/20954816.2022.2052453

Qian Liu, Leonard F. S. Wang

引用次数: 0

Regional power system transitions towards carbon neutrality: The case of North China 区域电力系统向碳中和过渡——以华北地区为例

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-06-01 DOI: 10.1080/20954816.2022.2067516

Yingdan Fan, Zhuang Liang, X. Yao

{"title":"Regional power system transitions towards carbon neutrality: The case of North China","authors":"Yingdan Fan, Zhuang Liang, X. Yao","doi":"10.1080/20954816.2022.2067516","DOIUrl":"https://doi.org/10.1080/20954816.2022.2067516","url":null,"abstract":"Abstract China has announced its goal of reaching carbon neutrality by 2060, which will have a profound impact on its energy and economic systems. During this process, the power sector will play a key role in helping the country on its road towards carbon neutrality. This study develops a multi-regional power dispatch and capacity expansion model to combine long-term capacity expansion with short-term power dispatch. The model is built to optimise the carbon-neutral transition pathway from the perspective of economics, focussing on power system stability and reliability under high penetrations of renewables. Using the case study of North China, the cost-effective methods for power system transitions under the targets of reaching peak emissions by 2030 and achieving carbon neutrality by 2060 are discussed under different scenarios. We find that the future power supply system will rely heavily on renewable energy which will account for more than 89% of power generation. Inner Mongolia will produce more than 84% of power in the North China region. The inter-regional power transmission capacity will be five times higher than its current level. Policy choices will lead to different transition pathways as the early-stage installation decisions will have a lock-in effect on the following carbon emission reduction strategies and determine the importance of technologies adopted in achieving carbon neutrality. Although the transition to a low-carbon economy will result in an increase in cost by 17–19%, it will bring huge climate benefits to the world.","PeriodicalId":44280,"journal":{"name":"Economic and Political Studies-EPS","volume":"10 1","pages":"416 - 441"},"PeriodicalIF":2.4,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41956829","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Capital flows, economic growth and the real effective exchange rate: Evidence from China 资本流动、经济增长和实际有效汇率：来自中国的证据

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-05-24 DOI: 10.1080/20954816.2022.2067102

Xin Tian, J. de Haan, Yanping Zhao

引用次数: 1

The relationship between political connections and the mutual fund performance: Evidence from the US 政治关系与共同基金业绩的关系——来自美国的证据

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-05-19 DOI: 10.1080/20954816.2022.2069334

Zhengkai Liu, Debao Hu, Zheng He

引用次数: 0

The 2018 new asset management regulation and LGFV bonds in China 2018年中国资产管理新规和LGFV债券

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-04-15 DOI: 10.1080/20954816.2022.2055814

Zhigang Qiu, Xi Sun, Lijun Wu, Dun Jia, Ziyue Wang

{"title":"The 2018 new asset management regulation and LGFV bonds in China","authors":"Zhigang Qiu, Xi Sun, Lijun Wu, Dun Jia, Ziyue Wang","doi":"10.1080/20954816.2022.2055814","DOIUrl":"https://doi.org/10.1080/20954816.2022.2055814","url":null,"abstract":"Abstract While the local government debts and local government financing vehicle (LGFV) bonds underwent reconstruction, in 2018 the new asset management regulation introduced some tighter measures to restrain shadow banking business and to mitigate the moral hazard issue that led to an ongoing boom of the LGFV market. This paper examines the impacts of the 2018 new asset management regulation on the credit spread of newly issued LGFV bonds and explores how the new asset management regulation affects the implicit guarantee of local governments in the LGFV market that has piled up systemic risks. We find that the release of the new asset management regulation has raised the credit spread of LGFV bonds at issuance. More importantly, the credit spread becomes increasingly sensitive to the local governments’ financial capacity and credibility right after the introduction of the new asset management regulation. Therefore, investors are compensated by more risk premiums for holding LGFV bonds issued by the local governments with a weaker balance sheet. Consequently, the implicit guarantee problem in the LGFV bond market has worsened.","PeriodicalId":44280,"journal":{"name":"Economic and Political Studies-EPS","volume":" ","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49349801","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Mixed oligopoly, state-owned banks’ shareholding reform and foreign capital penetration 混合寡头垄断、国有银行股份制改革与外资渗透

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-04-07 DOI: 10.1080/20954816.2022.2052452

Di Gao, Yongsheng Chu, Hongjin Xiang

引用次数: 0

The role of intermediaries in US workforce and education innovation 中介机构在美国劳动力和教育创新中的作用

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-04-07 DOI: 10.1080/20954816.2021.1976900

R. Giloth

{"title":"The role of intermediaries in US workforce and education innovation","authors":"R. Giloth","doi":"10.1080/20954816.2021.1976900","DOIUrl":"https://doi.org/10.1080/20954816.2021.1976900","url":null,"abstract":"Abstract Intermediaries are specialised organisations that perform bridging and integrative functions to achieve improved results of social policies. Intermediaries have been most effective in the United States (US) when aligned with education and workforce system improvements and redesign, not as parallel and separate efforts. Intermediaries operate in many US social policy domains, including workforce and education, where they contribute to overcoming fragmented institutions and solving mismatch problems that interfere with hiring, career pathways and educational achievements. Intermediary solutions are especially important for creating better outcomes for low-income students and workers and improving overall racial and ethnic equity. Five mismatches especially prevalent in the US labour market require intermediary solutions: organising business to improve human resources, creating improved pathways from school to work, integrating and focussing multiple education investments, linking workforce and economic development, and improving access and use of data for design, performance management and advocacy. This paper discusses these mismatches and related intermediary solutions in more depth, offers examples of specific intermediaries in action and identifies intermediary challenges and opportunities faced by intermediaries to function better. The paper also points out that, more broadly, intermediaries are only a part of the solution to labour market and education inequalities and that broader changes in the political economy and policies are required to effect wage growth and labour market participation.","PeriodicalId":44280,"journal":{"name":"Economic and Political Studies-EPS","volume":"11 1","pages":"252 - 273"},"PeriodicalIF":2.4,"publicationDate":"2022-04-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47573806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Specific vs. ad valorem taxation and social welfare in mixed duopoly with foreign ownership 外资混合双寡头的具体与从价税与社会福利

IF 2.4 4区社会学

Economic and Political Studies-EPS Pub Date : 2022-04-06 DOI: 10.1080/20954816.2022.2052454

Mingyuan Sun, Leonard F. S. Wang, Qidi Zhang

引用次数: 1