Journal of Chinese Economic and Business Studies最新文献

{"title":"Determinants Impacting Resale Premium Disparity When Selling a Small Business: A Predictive Non-Linear Approach","authors":"John Hayes, David Smith, M. Copeland","doi":"10.53462/itgb3748","DOIUrl":"https://doi.org/10.53462/itgb3748","url":null,"abstract":"Small and entrepreneurial business activity worldwide continues to have a positive influence on economic growth and development. While there has been a plethora of studies on small business development, enhancement, and drivers for success, minimal research examines small business resales. Specifically, studies regarding the exit of small business owners through the selling of their business is sparse. More notable, no previous literature can be found concerning variables that optimize or impact the value of a small business resale. The purpose of this study is to identify variables that may have a positive influence on small business resale prices. Through non-linear analysis, the research identifies which variables most accurately predict an above average small business resale price. A dataset that examines 2,159 small business firms sold over a 10-year period is utilized to derive the study conclusions. Findings confirm that franchise firms receive a higher resale premium when compared with non-franchise firms. The analysis also supports that firms with greater than 25 years in business and that are engaged in Food/Restaurant (non-grocery) businesses receive a higher resale premium, as compared to any other firms in their respective categories.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"60 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80869419","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Causal Effect of Growing up in a Two-Parent Household on Child’s Adult Earnings","authors":"Bob Wen","doi":"10.53462/cvmz1995","DOIUrl":"https://doi.org/10.53462/cvmz1995","url":null,"abstract":"The children who grew up in two-parent households for their entire childhood earn more than the other children reared in non-intact parental families. The causal effect of growing up in a twoparent household on the child’s adult earnings is the hourly earnings difference between the children who grew up in intact families and their counterparts raised by parents who have ever divorced, separated, or widowed, holding relevant factors constant and accounting for endogeneity issues. I identify the causal effect by using the following specification strategies. First, I control the parental income and educational attainment, along with the child’s demographic characteristics (gender, age, race, region, and tenure), to disentangle the childhood family intactness effect from the other parental influence. Second, I take into account the unobserved clan-specific heterogeneity, such as family traditions and genetic characteristics, by fitting the clan fixed effects (FE) models. Third, I use two instrumental variables (IVs), the state divorce rate and the no-fault divorce law effectiveness, for the endogenous childhood family structure and adopt the two-stage least squares (2SLS) approach to further alleviate the omitted variable bias. The estimates are around 0.16, suggesting that the children who grew up in a twoparent household earn about 16% more in adulthood than their counterparts from non-intact families, other things equal. The effect goes through three channels. The child’s education, health, and marital behavior are the mediator variables representing the three observable channels through which childhood family intactness affects the child’s adult earnings. The effect of growing up in a two-parent family on the child’s adult earnings varies with parental income and education. The effect is larger and more significant for sons than for daughters. The heterogeneous pattern of the effect is consistent with the parental utility maximization model’s predictions. Growing up in a two-parent household not only has a positive and significant effect on the child’s adult earnings in absolute values, but it also encourages intergenerational relativeearnings improvement. An intact childhood family lowers the probability of the intergenerational relative-earnings worsening by 6.72% and increases the probability of the intergenerational relative-earnings improvement by 6.67%.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"39 1","pages":""},"PeriodicalIF":2.0,"publicationDate":"2022-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83630446","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"From fragmented space to the Space University Institute","authors":"Thomas C. Hoerber","doi":"10.1080/14765284.2022.2081486","DOIUrl":"https://doi.org/10.1080/14765284.2022.2081486","url":null,"abstract":"ABSTRACT Starting from the origin of European space policy and its institutions since WW2, this paper discusses the inconsistency of current institutional settings between the European Space Agency (ESA) and EU space policy. It points out the historical cause of this problematic situation and elaborates how it undermines potential synergies that were envisaged initially. Based on its analysis, it is proposed to open ESA up internationally, embodied in re-naming ESA to the Space University Institute (SUI), if one wants to take a parallel development to the European University Institute (EUI), or even entertaining the name International Space Agency. It would build on ESA strength in fostering research, training, and innovation while leaving the utilitarian side of downstream usage of space application to the EU. This opening up of ESA to a wider international constituency could create partnerships as they already exist within ESA with Canadafor example, and with which ESA has substantial experience.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"287 - 293"},"PeriodicalIF":2.0,"publicationDate":"2022-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47287561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China’s new growth story: linking the 14th Five-Year Plan with the 2060 carbon neutrality pledge","authors":"N. Stern, Chunping Xie","doi":"10.1080/14765284.2022.2073172","DOIUrl":"https://doi.org/10.1080/14765284.2022.2073172","url":null,"abstract":"ABSTRACT China has announced its commitment to achieving carbon neutrality by 2060, and for this challenging goal to be reached within just four decades, there is a real urgency of shaping the low-carbon agenda in its 14th Five-Year Plan and to ratchet up ambition on climate policy in the near term to peak emissions early. This paper argues that China will have to change the way of development by take a sustainable pathway to growth. And this new approach does not mean sacrificing economic growth; quite the opposite, it can boost growth by providing great opportunities in terms of jobs, efficiency, demand, and many other aspects, while reducing carbon emissions and enabling great benefits with regards to pollution, ecological restoration, biodiversity and well-beings. The COVID-19 pandemic has provided a window of opportunity for China and other countries to cooperate to link the post-pandemic economic recovery with the fight against climate change.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"21 1","pages":"5 - 25"},"PeriodicalIF":2.0,"publicationDate":"2022-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45512636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China’s public health diplomacy in the post Covid-19 era","authors":"Lei Zhao, Bing Wang","doi":"10.1080/14765284.2022.2056380","DOIUrl":"https://doi.org/10.1080/14765284.2022.2056380","url":null,"abstract":"ABSTRACT Public health diplomacy is a diplomatic practice that focuses on addressing public health crises, such as infectious diseases. It is mainly implemented by sovereign states and relies on the joint efforts of health and foreign affairs departments, under the leadership and coordination of international organizations such as the WHO. The purpose is to safeguard national interests and promote global health governance through international medical cooperation. Public health diplomacy has presented new characteristics in the 21st century: health and diplomacy are more and more deeply integrated, involving an increasing number of players; Competition, which co-exists with cooperation on public health, is intensifying in this century; Countries endow this diplomacy with their own characteristics by leveraging their advantages. Compared with that of European countries and America, China’s public health diplomacy started late, but has shown its unique characteristics.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"235 - 244"},"PeriodicalIF":2.0,"publicationDate":"2022-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49249460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A survey of AI in finance","authors":"Yi Cao, Jianwu Zhai","doi":"10.1080/14765284.2022.2077632","DOIUrl":"https://doi.org/10.1080/14765284.2022.2077632","url":null,"abstract":"ABSTRACT In recent years, the dramatically fast development of financial technology (fintech) has played an important role in the production, delivery and consumption of financial products and services. In this survey, we sum up the primary research discoveries in fintech area, which include the possible evolution of fintech’s effect on customer protection, prosperity and the discovery of the asset prices and returns, and the design of digital frameworks in the era of the fintech.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"125 - 137"},"PeriodicalIF":2.0,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45407537","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Development paradigm of artificial intelligence in China from the perspective of digital economics","authors":"Zhiyi Liu, Yejie Zheng","doi":"10.1080/14765284.2022.2081485","DOIUrl":"https://doi.org/10.1080/14765284.2022.2081485","url":null,"abstract":"ABSTRACT This paper mainly discusses three issues: How Artificial Intelligence (AI) influences China’s economy and shape the production factors. How to realize the network economy effect in China. What is the difference between the value of digital economy and that of traditional economy. On the basis of fully discussing the above problems, the author constructs a new AI economic growth model, and summarizes the research paradigm of digital economy based on value, network, and consensus.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"207 - 217"},"PeriodicalIF":2.0,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43897699","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A new type of engagement between China and Europe amidst the COVID pandemic","authors":"Zhigao He, Yuan Li","doi":"10.1080/14765284.2022.2056387","DOIUrl":"https://doi.org/10.1080/14765284.2022.2056387","url":null,"abstract":"ABSTRACT The impact of the pandemic on the international economic and normative order has accelerated power struggles between the East and the West. Especially, the intensification of conflicts between China and Europe in terms of values may even affect the existing cooperation in the fields of economics, trade, and multilateralism. Despite divergences between China and Europe, including queries over the so-called mask diplomacy and cultural discrimination, as well as pressures from the US, some in Europe hope to strengthen engagement with China and keep the door open for cooperation and dialogue, thereby committing to the fundamentals of win-win cooperation. Cooperation is the backbone of a new type of engagement between China and Europe, which should not be affected by some occasional discord. Based on this new type of engagement, China and Europe build mutual trust, strengthen communication and coordination on global issues in a positive and pragmatic manner.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"20 1","pages":"295 - 301"},"PeriodicalIF":2.0,"publicationDate":"2022-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43934514","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Is China’s infrastructure development experience unique?","authors":"Zhi Liu, Xiu-qin Liu","doi":"10.1080/14765284.2022.2040074","DOIUrl":"https://doi.org/10.1080/14765284.2022.2040074","url":null,"abstract":"ABSTRACT The rapid development of infrastructure in China over the last four decades has drawn not only considerable international media coverage, but also research interest from the academic world. Few studies, however, ask the question if China’s infrastructure development experience is extraordinary. By comparing the level and pace of infrastructure development between China and other countries, we find that the case of China is not unique at the country level. What is unique is the heavy use of infrastructure investment as a policy instrument to stimulate the economy, both at the upturns and downturns. The paper further identifies the key weaknesses of China’s infrastructure sector, and highlights the effects of economic, technological, demographic, and climate trends on the future of infrastructure, and discusses the directions of infrastructure development in the next 20–30 years.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"21 1","pages":"323 - 340"},"PeriodicalIF":2.0,"publicationDate":"2022-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42205481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Can ‘new’ infrastructure become an engine of growth for the Chinese economy?","authors":"Jiayin Meng, Yite Zhu, Yang Han","doi":"10.1080/14765284.2022.2036571","DOIUrl":"https://doi.org/10.1080/14765284.2022.2036571","url":null,"abstract":"ABSTRACT This paper explores the effect of new infrastructure on economic growth from the aspects of tangible and intangible assets. According to empirical analysis, we conclude that traditional infrastructure directly contributes to the Chinese economic growth via fixed asset formation, while new infrastructure has overall insignificant direct effect on growth, i.e. it is unrealistic for new infrastructure to become an engine of growth for the Chinese economy in the short run. But it is also worth noting that new infrastructure does have the potential to promote the upgrade of industry structure and therefore boost economy in the long run. Based on the modelling results as well as the nature of new infrastructure, it is suggested that new infrastructure investment is not suitable to act as a short-term stimulation especially under Covid-19 pandemic despite its great potential in the long term.","PeriodicalId":45444,"journal":{"name":"Journal of Chinese Economic and Business Studies","volume":"21 1","pages":"341 - 362"},"PeriodicalIF":2.0,"publicationDate":"2022-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46147183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}