Journal of Economics, Finance and Administrative Science最新文献

{"title":"Multiplier elements of innovation: towards an innovation model in the Mexican micro and small business","authors":"A. López-Salazar, Gloria Leticia López-Salazar, Rubén Molina Sánchez","doi":"10.29057/jas.v3i6.7379","DOIUrl":"https://doi.org/10.29057/jas.v3i6.7379","url":null,"abstract":"Innovation is a fundamental strategy to generate and maintain a competitive position in the market, however, the companies’ ability to generate innovations is not an easy task, as there are different factors that influence it. Although several innovation models have been developed, no ad hoc models have been proposed to the conditions of micro and small enterprise, nor the structural conditions in developing countries. Therefore, the objective of this research is to identify and analyze the most relevant management factors that drive innovation in Mexican micro and small business. To this end, 594 micro and small businesses from the Laja-Bajío region belonging to the commercial sector, service and manufacture, were surveyed. Semi-structured interviews were conducted to identify their needs on innovation generation. The results show that technology management, marketing strategies and human resources management are the key elements to drive innovation in the MSEs (Micro and Small enterprises).","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"5 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2022-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89934763","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":"Editorial An upcoming 30th anniversary encouraging the papers' publication","authors":"Nestor U. Salcedo","doi":"10.1108/jefas-11-2021-329","DOIUrl":"https://doi.org/10.1108/jefas-11-2021-329","url":null,"abstract":"","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"24 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75519840","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":"Value-at-risk predictive performance: a comparison between the CaViaR and GARCH models for the MILA and ASEAN-5 stock markets","authors":"Ramona Serrano Bautista, José Antonio Núñez Mora","doi":"10.1108/jefas-03-2021-0009","DOIUrl":"https://doi.org/10.1108/jefas-03-2021-0009","url":null,"abstract":"PurposeThis paper tests the accuracies of the models that predict the Value-at-Risk (VaR) for the Market Integrated Latin America (MILA) and Association of Southeast Asian Nations (ASEAN) emerging stock markets during crisis periods.Design/methodology/approachMany VaR estimation models have been presented in the literature. In this paper, the VaR is estimated using the Generalized Autoregressive Conditional Heteroskedasticity, EGARCH and GJR-GARCH models under normal, skewed-normal, Student-t and skewed-Student-t distributional assumptions and compared with the predictive performance of the Conditional Autoregressive Value-at-Risk (CaViaR) considering the four alternative specifications proposed by Engle and Manganelli (2004).FindingsThe results support the robustness of the CaViaR model in out-sample VaR forecasting for the MILA and ASEAN-5 emerging stock markets in crisis periods. This evidence is based on the results of the backtesting approach that analyzed the predictive performance of the models according to their accuracy.Originality/valueAn important issue in market risk is the inaccurate estimation of risk since different VaR models lead to different risk measures, which means that there is not yet an accepted method for all situations and markets. In particular, quantifying and forecasting the risk for the MILA and ASEAN-5 stock markets is crucial for evaluating global market risk since the MILA is the biggest stock exchange in Latin America and the ASEAN region accounted for 11% of the total global foreign direct investment inflows in 2014. Furthermore, according to the Asian Development Bank, this region is projected to average 7% annual growth by 2025.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"11 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80810158","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":"Do public and internal debt cause income inequality? Evidence from Kenya","authors":"Wilkista Lore Obi̇ero, Seher Gülşah Topuz","doi":"10.1108/jefas-05-2021-0049","DOIUrl":"https://doi.org/10.1108/jefas-05-2021-0049","url":null,"abstract":"PurposeThis study aims to determine whether there is an effect of internal and public debt on income inequality in Kenya for the period 1970–2018.Design/methodology/approachThe relationship is examined by using the Autoregressive Distributed Lag (ARDL) model by Pesaran et al. (2001) and Toda Yamamoto causality by Toda and Yamamoto (1995).FindingsOur findings suggest that both internal and public debt harm inequality in Kenya in the long term. Furthermore, a one-way causality from internal debt to income inequality is also obtained while no causality relationship is found to exist between public debt and income inequality. Based on these findings, the study recommends that to reduce income inequality levels in Kenya, other methods of financing other than debt financing should be preferred because debt financing is not pro-poor.Originality/valueThis study is unique based on the fact that no previous paper has analysed the debt and inequality relationship in Kenya. To the best of our knowledge, this will be the first study to analyse the applicability of redistribution effect of debt in Kenya. The study is also different in that it provides separate analysis for public debt and internal debt on their effects on income inequality.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"70 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73876833","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":"Financial Health of Women: A Poisson Regression Analysis Approach","authors":"Davis Bundi Ntwiga, Arthur Wanyonyi Wafula","doi":"10.12691/jfe-9-6-1","DOIUrl":"https://doi.org/10.12691/jfe-9-6-1","url":null,"abstract":"Financial health of women is crucial as it enables them manage their financial commitments, respond to short-term financial shocks and be financially resilience. There is a marked difference between the financial health or wellbeing of women living in rural and urban areas. This study analyzes the factors that influence the financial health of women in rural and urban areas in Kenya using the Poisson regression model. The study data is based on the FinAccess survey of 2019 conducted by Central Bank of Kenya, Financial Sector Deepening Kenya and the Kenya National Bureau of Statistics. A comparison is made between the key factors influencing the financial health of the women based on area of residence. The presence of overdispersion in the data meant the use of quasipoisson instead of poisson model in the data analysis. The findings is that women in urban areas are more financially healthy than those in rural areas. The risk coping, age, invest score, ability to manage day to day, vulnerability, area of residence, widowed as a marital status and completed university are significant in influencing financial health of the women.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"120 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2021-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88035397","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":"How does Affordable Housing Supply Affect Commercial Housing Prices：Crowd out Supply or Divert Demand？","authors":"Zou Xu, Ma Xianlei, S. Xiaoping","doi":"10.16538/J.CNKI.JFE.20210813.401","DOIUrl":"https://doi.org/10.16538/J.CNKI.JFE.20210813.401","url":null,"abstract":"Since the housing system reform in 1998, China’s commercial housing prices have risen rapidly, and far exceeded the affordability of commonality. In order to solve the housing problems of middle and low income families, China launched the construction of affordable housing, which has greatly improved people’s livelihood and social welfare. The impact of affordable housing supply on the real estate market is also related to the interests of social groups. How to understand the relationship between the two types of housing has become an important reference for building an internally coordinated and efficient housing supply system.Combined with China’s special housing security and land system, this study theoretically analyzes the possible impact of affordable housing supply on the commercial housing market by constructing the equilibrium model of supply and demand. Based on the panel data of 248 prefecture-level cities in China from 2007 to 2016, the FEM and IV models are used to test the theoretical hypothesis, and the mechanism and heterogeneity are further discussed.The results show that: In the statistical sense, we find that affordable housing crowds out commercial housing supply through the competitive allocation of land, but it cannot replace demand in the segmented housing market, which eventually raises housing prices. Furthermore, the crowding-out effect is more obvious in the regions with low land financial dependence. But the economic meaning of empirical results is weak, and the crowding-out effect and the impact of housing prices can be ignored. This means that the supply of affordable housing basically does not harm the welfare of other groups.In general, this study has strong policy implications. On the one hand, China should establish multi-agent supply channels. Collective construction land and idle land owned by enterprises can be used to build affordable housing to ensure the independence of the land supply mechanism. On the other hand, some cities can gradually relax the access restrictions on affordable housing according to the actual situation. They can provide talent housing for college graduates and professional and technical personnel, and provide affordable rental housing for urban “new citizens” and migrant workers, so as to effectively divert the demand for commercial housing and stabilize the price of commercial housing.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"71 1","pages":"49-63"},"PeriodicalIF":2.4,"publicationDate":"2021-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80737382","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 Research on the Different Financing Models of Long-term Care Insurance in China","authors":"T. Wei, Su Fang","doi":"10.16538/J.CNKI.JFE.20210825.102","DOIUrl":"https://doi.org/10.16538/J.CNKI.JFE.20210825.102","url":null,"abstract":"Establishing a long-term care insurance (LTCI) system covering the whole people and balancing urban and rural areas is an important strategic plan for China to deal with the aging and disability of the population. Since the establishment of the LTCI system at the national level in 2016, China has 49 pilot areas for LTCI by 2020. Each pilot area is seriously fragmented, and the financing model of LTCI has not yet been finalized. So what is the financing model of LTCI that suits China’s national conditions? In addition, different financing models have their own advantages and disadvantages. The optimal financing model may depend on economic, social and demographic factors. Since the fund funded system does not have the function of mutual assistance in social insurance, this paper limits the financing model of LTCI between the pay-as-you-go system and the mixed system. Which one is optimal for the long-term sustainable development of China’s LTCI? Starting from the evolutionary law of the health status of elderly individuals, this paper explores the operation of China’s LTCI system under different financing models.This paper uses multi-period micro-tracking survey data, through the continuous time homogeneous Markov process and the generalized linear model, to describe the movement law of the health status transition of the elderly in China, and combines the seven census data and the age shift algorithm to calculate the size and structure of the disabled elderly population from 2020 to 2040. Further, based on the social insurance actuarial balance theory, a dynamic actuarial model under the pay-as-you-go system and three mixed systems is constructed to simulate the equilibrium premium rate and payment amount of LTCI for urban employees and urban and rural residents in the next 20 years. The study finds that, in terms of the size of disabled population, the female elderly are the main body of disabled population; the scale of disabled population in urban areas is significantly higher than that in rural areas. The main reason is that rural-urban migration has made urban elderly population larger, and the urban disability rate is higher than that in rural areas. In addition, in terms of funding pressure, the study shows that at any time and under any financing model, the relative payment pressure of LTCI for urban employees is significantly lower than that of urban and rural residents, but the absolute payment pressure is slightly higher than that of urban and rural residents. Finally, in terms of the selection of financing models, this paper believes that LTCI for urban employees should adopt a mixed system, and LTCI for urban and rural residents should adopt a pay-as-you-go system.The contribution of this paper is mainly reflected in two aspects: First, at the level of empirical research, it combines macro and micro data to describe the evolution of the health status of the elderly from the micro level, predicts the size of disabled population in Chi","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"26 1","pages":"34-48"},"PeriodicalIF":2.4,"publicationDate":"2021-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72665538","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":"中国共产党审计思想研究（1921—1949） *","authors":"张晓玲, Zhang Xiaoling","doi":"10.16538/J.CNKI.JFE.20210917.202","DOIUrl":"https://doi.org/10.16538/J.CNKI.JFE.20210917.202","url":null,"abstract":"系统梳理与总结1921−1949年中国共产党审计思想的历史演变，不仅可以为构建中国特色社会主义国家审计理论体系提供理论基础，而且对于讲好中国共产党审计历史、传播中国共产党审计思想、坚持和完善中国特色社会主义国家审计制度，都有十分重要的现实意义。文章从思想史角度对新民主主义革命时期中国共产党审计思想进行了系统性与理论性的梳理、提炼与总结。研究发现：（1）1921−1949年中国共产党审计思想经历了由浅入深、层层递进的三个发展阶段，即1921−1926年以认识审计本质及其重要性为主要特征的思想产生阶段，1927−1936年以认识审计独立性和权威性为主要特征的思想初步形成阶段，1937−1949年以认识审计功能多元化为主要特征的思想发展阶段。（2）中国共产党审计思想有三个重要理论来源，一是马克思主义的国家、财政与监督理论，二是中国传统的国家审计思想，三是西方审计方法与理论。（3）中国共产党审计思想具有三大理论创新。一是在坚持党领导审计工作的基础上深化与发展了马克思主义监督思想，指出了国家审计的本质，强调了审计独立性，拓展了审计功能；二是改变了中国传统国家审计的封建专制理念，强调民主法治；三是突破了西方审计理论为资产阶级服务的审计目标，将为人民群众服务作为审计的根本目标。","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"31 1","pages":"20-33"},"PeriodicalIF":2.4,"publicationDate":"2021-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77790801","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":"中国共产党在统筹“发展和安全”中的独特优势","authors":"郎旭华, Lang Xuhua, 冒佩华, Mao Peihua","doi":"10.16538/J.CNKI.JFE.20210917.201","DOIUrl":"https://doi.org/10.16538/J.CNKI.JFE.20210917.201","url":null,"abstract":"Ensuring both “development and security” is the historical thread of the national governance of the Communist Party of China (CPC). Starting from this thread, based on historical materials, this paper investigates the historical experience and governing logic formed by the CPC in this process, and extracts its unique advantages from the perspective of Marxism, which is of great significance to study the CPC’s positioning and role in financial governing and even the national governance system. However, the existing research lacks the combing and analysis of the CPC’s financial governance practice and logic, and there is little overall and systematic understanding of the CPC’s role in coordinating the relationship between the government and the market. By combing the historical sources of the CPC’s centennial financial governance, this paper examines the unique role and advantages of the CPC in this process, and makes an academic study of this historical experience and governing logic from the perspective of Marxism, forming a ternary relationship framework of the CPC, the government and the market. The research finds that: (1) Financial governance under the leadership of the CPC not only realizes the transformation of financial support for the real economy from individualization and decentralization to collectivization, scale and even integration, but also deepens the recognition of aspect of security from party security, sovereign security to economic security and even overall national security. (2) The deepening of the understanding of “development and security” stems from the advantages of strategic stability, power regulation capability and political mobilization brought by the CPC’s fundamental ideological orientation, strategic goal orientation and core interest orientation. This makes the CPC’s leadership a long-term strategic leadership on the basis of clarifying the power boundary with the two main bodies of the government and the market, forming a unique governance advantage. (3) The unique governance advantage of the CPC promotes the improvement of national governance efficiency through two power paths. That is, the CPC’s strategic stability advantage ensures the continuity and stability of the government’s decision-making, and the advantages of power regulation ability and political mobilization ability enable the CPC to play a role in guiding and balancing interests between the government and the market. The research contribution mainly lies in three aspects: First, this paper analyzes the CPC’s unique advantages from the perspective of financial governance, which is a further enrichment of the existing research. Second, taking “development and security” as the thread, this paper forms the historical context and analytical framework of the CPC’s centennial financial governance history, which fills the gap of the existing research. Third, this paper further develops the ternary governance framework of the CPC, the government and the ma","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"1 1","pages":"4-19"},"PeriodicalIF":2.4,"publicationDate":"2021-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77014226","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":"Rural Customs and Subjective Life Quality of Migrant Workers: Empirical Research Based on Dynamic Monitoring Data of Floating Population","authors":"Liru Shu, Deng Rui","doi":"10.16538/J.CNKI.JFE.20210715.201","DOIUrl":"https://doi.org/10.16538/J.CNKI.JFE.20210715.201","url":null,"abstract":"The high-stage goal of new urbanization is to continuously improve the urban life experience of migrant workers as the main body of integration. This change in subjective perception factors is often based on the mental changes of migrant workers, and the subtle role of culture is also not to be ignored. The continuation of rural customs is often regarded as an unfavorable factor in the urban cultural adaptation of migrant workers, but its impact on the urban life experience of migrant workers has not yet been fully confirmed by experience.By constructing a comprehensive measurement index of rural customs, this article systematically evaluates the impact of rural customs on the subjective life quality, which is an important characterization of migrant workers’ urban life experience, from a theoretical and empirical level with the help of dynamic monitoring data of floating population. The research results show that: After correcting the potential endogenous errors, rural customs have a significant positive impact on the subjective life quality indicators such as life satisfaction, mental health, and social goodwill of migrant workers, which confirms the positive role of the native nature. The mechanism test results show that the retention of rural customs can make migrant workers more actively join the fellow villager associations at work sites. With the help of the resource support and risk-sharing function of cross-regional formal social network, the subjective life quality of migrant workers can be effectively improved. In addition, the promotion effect of rural customs on the subjective life quality of migrant workers will show a certain degree of heterogeneity due to the positive acceptance attitude of urban residents, and there are certain generational differences in this promotion effect. The policy implication of this article is to fully respect cultural diversity, shape the traditional cultural self-confidence of migrant workers, improve the cultural adaptability of migrant workers, and standardize the development of primary social network organizations for migrant workers in cities based on rural culture, which can help this group to better integrate into the urban society while retaining homesickness.The academic value of this article is mainly reflected in the following two aspects: On the one hand, this article strives to transition from focusing on the influencing factors of the cultural identity conversion of immigrants to analyzing the consequences of the rural-urban cultural impact of migrant workers within the integrated rural-modern analysis framework. It provides a possible perspective for studying the effect and mechanism of cultural inertia experienced by migrant workers. On the other hand, this article gives empirical evidence that traditional rural culture affects the subjective life quality of migrant workers, which has a certain reference value for understanding the cultural conflict theory or the cultural adaptation theo","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"16 1","pages":"109-123"},"PeriodicalIF":2.4,"publicationDate":"2021-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91262034","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}