Background:PTB is an infectious disease,which not only seriously affects people's health,but also causes a heavier disease economic burden on patients.At present,reform of the medical insurance payment can be an e...Background:PTB is an infectious disease,which not only seriously affects people's health,but also causes a heavier disease economic burden on patients.At present,reform of the medical insurance payment can be an effective method to control medical expenses.Therefore,our study is to explore the compensation mechanism for pulmonary tuberculosis(PTB)patients with a full period of treatment,to alleviate the financial burden of PTB patients and provide a reference and basis for the reform of PTB payment methods in other regions and countries.展开更多
Profile of Prof.Ning-Li Wang Academician of the Chinese Academy of Engineering(CAE)Member of the International Academy of Ophthalmology Director,Ophthalmology Center,Beijing Tongren Hospital Dean,School of Ophthalmolo...Profile of Prof.Ning-Li Wang Academician of the Chinese Academy of Engineering(CAE)Member of the International Academy of Ophthalmology Director,Ophthalmology Center,Beijing Tongren Hospital Dean,School of Ophthalmology,Capital Medical University Director,National Engineering Research Center for Ophthalmic Diagnosis and Treatment National Distinguished Physician Member,Academic Advisory Committee.展开更多
This paper investigates ruin,capital injection,and dividends for a two-dimensional risk model.The model posits that surplus levels of insurance companies are governed by a perturbed composite Poisson risk model.This m...This paper investigates ruin,capital injection,and dividends for a two-dimensional risk model.The model posits that surplus levels of insurance companies are governed by a perturbed composite Poisson risk model.This model introduces a dependence between the two surplus levels,present in both the associated perturbations and the claims resulting from common shocks.Critical levels of capital injection and dividends are established for each of the two risks.The surplus levels are observed discretely at fixed intervals,guiding decisions on capital injection,dividends,and ruin at these junctures.This study employs a two-dimensional Fourier cosine series expansion method to approximate the finite time expected discounted operating cost until ruin.The ensuing approximation error is also quantified.The validity and accuracy of the method are corroborated through numerical examples.Furthermore,the research delves into the optimal capital allocation problem.展开更多
Based on the current status of educational inequality between urban and rural areas in China,this study transcends the traditional resource-centered perspective to examine the latent roles of cultural and social capit...Based on the current status of educational inequality between urban and rural areas in China,this study transcends the traditional resource-centered perspective to examine the latent roles of cultural and social capital in the distribution of educational opportunities.The research finds that institutional arrangements,family cultural accumulation,social networks,and digital literacy collectively constitute the latent structure of urban-rural educational inequality,determining the access to and conversion efficiency of educational opportunities.Cultural capital influences students’educational adaptability through cognitive abilities,learning habits,and the accumulation of educational resources,while social capital expands educational opportunities through information access and social support.Their interaction exacerbates urban-rural disparities.The study further suggests that achieving educational equity requires a multidimensional coordinated strategy encompassing institutional restructuring,cultural empowerment,social capital development,and digital empowerment,providing both theoretical guidance and practical pathways for policy formulation and educational practice.展开更多
Zhengzhou,located at the eastern foot of Mount Song and along the banks of the Yel low River,sits at the heart of China.It is the capital of Henan Province and one of China’s eight great ancient capitals.Historically...Zhengzhou,located at the eastern foot of Mount Song and along the banks of the Yel low River,sits at the heart of China.It is the capital of Henan Province and one of China’s eight great ancient capitals.Historically known as the“Center of Heaven and Earth”,it is now praised as the“Green City”As a national central city expl icit ly suppor ted by the Chinese government and a core growth pole for high-quality regional development.展开更多
This paper is an attempt to explore the root of the modern paradox across multiple registers in order to uncover a persuasive pattern of contradiction that runs through the very fabric of contemporary existence.We dis...This paper is an attempt to explore the root of the modern paradox across multiple registers in order to uncover a persuasive pattern of contradiction that runs through the very fabric of contemporary existence.We discover that the very logic meant to emancipate the human subject-scientific mastery,bureaucratic order,economic growth,and many others,often recoil upon the subject,generating conditions of fragmentation,depersonalization,and spiritual aridity.Far from rejecting modernity wholesale,our task is a diagnostic one-to enter into the deep fabric of modernity and to decode its operating metaphors and interrogate what holds up the“scaffolding of collective life”.This is in a bid to find the rootedness of genuine human flourishing.Part of the answer,from our analysis,lies in a critical re-thinking within modernity without being subsumed by it.展开更多
The rise of creative industries in this century has aroused strong interest in the concept“cultural capital”in academia.Cultural capital can be understood as various forms of cultural resources that achieve signific...The rise of creative industries in this century has aroused strong interest in the concept“cultural capital”in academia.Cultural capital can be understood as various forms of cultural resources that achieve significant appreciation in existing economic,political,and cultural structures through active and rapid reproduction,thereby influencing changes in existing economic,political,and cultural structures,including production relations with capitalist characteristics.The capitalization of culture negates the original ecological value of culture,denies human needs for culture,undermines the true value of cultural exchange and creation,and can easily lead to the formation of cultural hegemony.However,the process of cultural capitalization and the changes in cultural values within it indicate that the capitalization of culture is to some extent an inevitable historical development.The new cultural capital has demonstrated tremendous power in promoting the development of contemporary creative industries and producing cultural masterpieces.Of course,this first requires it to refuse to become a tool for economic capital and digital technology.展开更多
With a long-standing tradition in the development of critical theories, Latin America seeks, through a myriad of perspectives, to understand its peripheral position within the mechanisms of the world system. This pape...With a long-standing tradition in the development of critical theories, Latin America seeks, through a myriad of perspectives, to understand its peripheral position within the mechanisms of the world system. This paper aims to examine the role of race and gender in sustaining the capitalist world system through the lens of decolonial studies. It considers how both categories were historically constructed during the colonial process as tools to legitimize social, economic, and political hierarchies between the dominant and the dominated. In particular, the division of labor, based on racial and gendered distinctions, was instrumental in shaping these power relations. By analyzing these categories as central elements in the formation and maintenance of the capitalist world system, the study highlights their continued influence in perpetuating inequalities today.展开更多
Investigation and analysis of the current status of farmers'livelihood capital and promptly discovering and solving problems in farmers'livelihood development are of great practical significance for optimizing...Investigation and analysis of the current status of farmers'livelihood capital and promptly discovering and solving problems in farmers'livelihood development are of great practical significance for optimizing farmers'livelihood strategies and enhancing farmers'livelihood sustainable development capability.Based on the framework of sustainable livelihood analysis,taking Yangshan County as an example,this paper uses field surveys,questionnaires and interviews to summarize and analyze the current status and characteristics and main problems of local farmers'livelihood capitals on the basis of the data of 628 farmer samples.It proposes countermeasures for future development of farmers'livelihoods.Implementing these strategies will be helpful for improving the livelihoods capital structure of farmers'and enhancing their sustainable development capability.展开更多
China’s investment is creating life-changing opportunities for Rwandans In a significant development in the bilateral eco-nomic partnership,Chinese investors injected some$460 million into Rwanda’s economy in 2024.T...China’s investment is creating life-changing opportunities for Rwandans In a significant development in the bilateral eco-nomic partnership,Chinese investors injected some$460 million into Rwanda’s economy in 2024.This accounted for 14.1 percent of all registered foreign capital in Rwanda,making China the country’s leading foreign investor.According to a report from the Rwanda Development Board(RDB).展开更多
This October,I had the opportunity to attend the 6th International Ancient Capitals Forum in Luoyang,central China’s Henan Province.The event gathered diplomats,government officials,scholars,and journalists from more...This October,I had the opportunity to attend the 6th International Ancient Capitals Forum in Luoyang,central China’s Henan Province.The event gathered diplomats,government officials,scholars,and journalists from more than 30 countries.For me,the three days in Luoyang were not just a professional experience-they became a memorable cultural journey that helped me explore the heritage of both China and my own country,Myanmar.展开更多
The paper addresses the impacts of political exits on capital structure policies,through studying the impact of the Brexit deal on the UK's companies listed at FTSE 100 as a practical case.The study is divided int...The paper addresses the impacts of political exits on capital structure policies,through studying the impact of the Brexit deal on the UK's companies listed at FTSE 100 as a practical case.The study is divided into two periods:the first before the Brexit deal(2010-2015)and the second after the referendum until Brexit(2016-2021).Data were collected from the annual reports of the UK companies and the FTSE 100 database.Moreover,capital structure policies were studied by analyzing the determinants such as long-term debt over total equity,profitability,tangibility,liquidity,propensity to pay dividends,size,and political factor-Brexit.The results show that there is a direct relationship between political exits and capital structure.Also,the results show that the financial ratios are different between the two periods(before and after Brexit),where it seems that the capital structure variables were affected starting from the referendum period,political negotiations between the two parties,and then Brexit(2016-2021).In addition,the correlation matrix shows that long-term debt over total equity has a negative correlation with profitability,liquidity,and political factors,where it seems that long-term debt over total equity has a positive correlation with tangibility,size,and paying dividends.Moreover,the results show that political shocks were affecting the FTSE 100 performance starting from 2016 until 2021.The study could be useful for financial and economic academics.Moreover,the study could be helpful for EU members and the UK government,taking into consideration the interests of the UK and EU where any future policies or laws will affect the financial and economic sectors of the two parties.展开更多
By using the Chinese stock market data from 2018 to 2024,the weak association between structural trends stocks and market index under investors’preference effect in trading cause the market is lack of liquidity and m...By using the Chinese stock market data from 2018 to 2024,the weak association between structural trends stocks and market index under investors’preference effect in trading cause the market is lack of liquidity and more likely to be dominated by structural trends,as in this market,the willingness to engage in passive trading exceeds that for active trading and investors’preference easy to reverse toward market volatility.The lack of incremental capital in the market often leads to sector-specific rallies rather than broad-based increases,which is one of the key reasons why the Chinese stock market has struggled to achieve overall growth over the long-term period.展开更多
This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings ...This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings from previous studies to provide a comprehensive overview of the relationships among these variables.Profitability,often measured by Return on Assets(ROA)or Return on Equity(ROE),is expected to have a positive relationship with firm value as it reflects a company’s ability to generate profits.Firm size,measured by total assets or the logarithm of sales,is also assumed to influence firm value,both through economies of scale and better access to capital markets.Meanwhile,capital structure,measured by Debt to Equity Ratio(DER)or Debt to Asset Ratio(DAR),has a complex impact;while debt can enhance firm value through tax shields,excessive debt levels can increase financial risk and potentially decrease firm value.The synthesis of literature indicates a general consensus on the importance of profitability and firm size in shaping firm value,though there is variation in the significance and direction of the relationship for capital structure variables.This study provides important implications for company managers and investors in making strategic decisions related to resource allocation and selecting an optimal capital structure to enhance firm value.展开更多
With intensifying market competition and growing financial complexity,strengthening risk control in corporate capital investment management has become imperative.This paper examines the critical role of risk managemen...With intensifying market competition and growing financial complexity,strengthening risk control in corporate capital investment management has become imperative.This paper examines the critical role of risk management in ensuring financial stability,optimizing resource allocation,and achieving strategic objectives.It identifies key risk categories including market volatility,liquidity challenges,operational risks,and strategic misalignment,while proposing targeted strategies such as dynamic monitoring,strategic planning,decision-making optimization,and focused risk management.展开更多
Objectives:For the younger generation(i.e.,Millennials and Generation Z),running is not only about physical health,but also about building psychological resources and multidimensional well-being,reflecting their uniqu...Objectives:For the younger generation(i.e.,Millennials and Generation Z),running is not only about physical health,but also about building psychological resources and multidimensional well-being,reflecting their unique culture and lifestyle.This study aims to investigate the structural relationships among exercise commitment,psychological capital(PsyCap),and flourishing in younger adults in South Korea by integrating Social Cognitive Theory(SCT)and Broaden-and-Build Theory(BBT)using a second-order partial least squares structural equation modeling(PLS-SEM).Methods:A total of 166 participants were recruited through convenience sampling via online survey.They were young South Korean adults(born 1983–2005)who run at least once a week and were recruited through two universities and running communities.The survey included validated scales measuring exercise commitment(cognitive and behavioral),PsyCap(hope,efficacy,resilience,and optimism),and flourishing(emotional,psychological,and social well-being).Data were analyzed using PLS-SEM with 5000 bootstrap resamples in SmartPLS 4.1.1.2.Subsequently,mea-surement and structural models were assessed through confirmatory composite analysis(CCA),and common method variance(CMV)was checked using Harman’s single-factor test.Results:Exercise commitment significantly predicted PsyCap(β=0.171,p<0.05)and PsyCap significantly predicted flourishing(β=0.444,p<0.001).Mediation analysis confirmed that PsyCap fully mediated the relationship between exercise commitment and flourishing(β=0.071,p<0.05).Although the indirect effect may appear numerically small,it translated to a 7.1%increase in flourishing scores—a practically meaningful effect in social science contexts where even modest changes yield real-world impact.The findings empirically support the integration of two frameworks,highlighting both motivational(SCT)and affective(BBT)pathways through which exercise fosters multidimensional well-being.Conclusions:Theoretically,this study advances understanding of how cognitive and behavioral commitment contribute to the development of psychological resources that collectively drive flourishing.Practically,the results suggest that running programs targeting younger adults should focus on fostering PsyCap—via goal setting,social support,and digital engagement—to maximize well-being outcomes.Moreover,the findings have the potential to inform mental health promotion strategies beyond the Korean context.This study has several limitations,including a skewed sample resulting from convenience sampling,the lack of comparative analysis across different age cohorts,and the use of second-order constructs that may obscure dimension-specific effects.Future research should address these limitations by employing stratified sampling,adopting comparative study designs,and conducting model comparisons between first-and second-order constructs to elucidate both overarching and dimension-specific pathways.展开更多
Recent literature has focused on the venture capital investments of large family firms made through their family offices.However,evidence regarding informal venture capital provided to nascent entrepreneurs by small f...Recent literature has focused on the venture capital investments of large family firms made through their family offices.However,evidence regarding informal venture capital provided to nascent entrepreneurs by small family businesses is scant.I contribute to the literature by modeling the angel investments of about 30,000 family and nonfamily business entrepreneurs across 49 countries,who contributed about$64 million to businesses started by other entrepreneurs over a 3-year period.Based on this sample,I conclude that in countries with higher rates of small family businesses,angel investors are likely fewer,and the amounts invested in start-ups are also lower.Furthermore,I conclude that the owners/managers of small family businesses invest comparatively less capital in start-ups,irrespective of family relationships.I infer that this is attributable to the financing preferences of family businesses,which favor the use of internal resources for their continuity and the growth of their family capital.展开更多
Focusing on Haikou’s strategic development to become the“Capital of Chinese Tourism Performances,”this paper delves into its foundational conditions and implementation paths.By analyzing Haikou’s rich cultural res...Focusing on Haikou’s strategic development to become the“Capital of Chinese Tourism Performances,”this paper delves into its foundational conditions and implementation paths.By analyzing Haikou’s rich cultural resources,favorable geographical environment,thriving tourism industry,and continuously improving policy support,it explores how to further integrate resources,innovate development,enhance the quality and influence of tourism performances,and achieve the goal of becoming the“Capital of Chinese Tourism Performances.”This provides theoretical support and practical guidance for the high-quality development of Haikou’s cultural and tourism industry.展开更多
The current study conducted the psychological capital profiles and the relation between profile memberships and learning burnout among undergraduates.Participants were 541 Chinese undergraduates ranging from 18 to 21 ...The current study conducted the psychological capital profiles and the relation between profile memberships and learning burnout among undergraduates.Participants were 541 Chinese undergraduates ranging from 18 to 21 years old(48.2%male;Mean years=19.54,SD=1.09 years).Latent profile analysis revealed three categories of psychological capital profile consistent high psychological capital profile(50.5%),consistent low psychological capital profile(38.1%),and dominate loss-orientated psychological capital profile(11.4%).The undergraduates in consistent high profile reported high self-efficacy,resilience,hope,and optimism.Consistent low profile characterized by a little low(~0.50 SD below the M)self-efficacy,resilience,hope,and optimism.Dominant loss-orientated profile displayed low self-efficacy,hope,optimism,but a little relatively high resilience.Specifically,undergraduates in consistent high profile exhibited low level of learning burnout;while undergraduates with low level of psychological capital(i.e.,consistent low profile and dominate loss-orientated profile)reported high level of learning burnout.The findings have theoretical significance which provides important knowledge about psychological capital profile among Chinese undergraduates.They have practical implications for student counselling and development providing person-centric support to students based on their individual psychological profiles.展开更多
文摘Background:PTB is an infectious disease,which not only seriously affects people's health,but also causes a heavier disease economic burden on patients.At present,reform of the medical insurance payment can be an effective method to control medical expenses.Therefore,our study is to explore the compensation mechanism for pulmonary tuberculosis(PTB)patients with a full period of treatment,to alleviate the financial burden of PTB patients and provide a reference and basis for the reform of PTB payment methods in other regions and countries.
文摘Profile of Prof.Ning-Li Wang Academician of the Chinese Academy of Engineering(CAE)Member of the International Academy of Ophthalmology Director,Ophthalmology Center,Beijing Tongren Hospital Dean,School of Ophthalmology,Capital Medical University Director,National Engineering Research Center for Ophthalmic Diagnosis and Treatment National Distinguished Physician Member,Academic Advisory Committee.
基金supported by the Shihezi University High-Level Talents Research Startup Project(Project No.RCZK202521)the National Natural Science Foundation of China(Grant Nos.12271066,11871121,12171405)+1 种基金the Chongqing Natural Science Foundation Joint Fund for Innovation and Development Project(Project No.CSTB2024NSCQLZX0085)the Chongqing Normal University Foundation(Grant No.23XLB018).
文摘This paper investigates ruin,capital injection,and dividends for a two-dimensional risk model.The model posits that surplus levels of insurance companies are governed by a perturbed composite Poisson risk model.This model introduces a dependence between the two surplus levels,present in both the associated perturbations and the claims resulting from common shocks.Critical levels of capital injection and dividends are established for each of the two risks.The surplus levels are observed discretely at fixed intervals,guiding decisions on capital injection,dividends,and ruin at these junctures.This study employs a two-dimensional Fourier cosine series expansion method to approximate the finite time expected discounted operating cost until ruin.The ensuing approximation error is also quantified.The validity and accuracy of the method are corroborated through numerical examples.Furthermore,the research delves into the optimal capital allocation problem.
文摘Based on the current status of educational inequality between urban and rural areas in China,this study transcends the traditional resource-centered perspective to examine the latent roles of cultural and social capital in the distribution of educational opportunities.The research finds that institutional arrangements,family cultural accumulation,social networks,and digital literacy collectively constitute the latent structure of urban-rural educational inequality,determining the access to and conversion efficiency of educational opportunities.Cultural capital influences students’educational adaptability through cognitive abilities,learning habits,and the accumulation of educational resources,while social capital expands educational opportunities through information access and social support.Their interaction exacerbates urban-rural disparities.The study further suggests that achieving educational equity requires a multidimensional coordinated strategy encompassing institutional restructuring,cultural empowerment,social capital development,and digital empowerment,providing both theoretical guidance and practical pathways for policy formulation and educational practice.
文摘Zhengzhou,located at the eastern foot of Mount Song and along the banks of the Yel low River,sits at the heart of China.It is the capital of Henan Province and one of China’s eight great ancient capitals.Historically known as the“Center of Heaven and Earth”,it is now praised as the“Green City”As a national central city expl icit ly suppor ted by the Chinese government and a core growth pole for high-quality regional development.
文摘This paper is an attempt to explore the root of the modern paradox across multiple registers in order to uncover a persuasive pattern of contradiction that runs through the very fabric of contemporary existence.We discover that the very logic meant to emancipate the human subject-scientific mastery,bureaucratic order,economic growth,and many others,often recoil upon the subject,generating conditions of fragmentation,depersonalization,and spiritual aridity.Far from rejecting modernity wholesale,our task is a diagnostic one-to enter into the deep fabric of modernity and to decode its operating metaphors and interrogate what holds up the“scaffolding of collective life”.This is in a bid to find the rootedness of genuine human flourishing.Part of the answer,from our analysis,lies in a critical re-thinking within modernity without being subsumed by it.
文摘The rise of creative industries in this century has aroused strong interest in the concept“cultural capital”in academia.Cultural capital can be understood as various forms of cultural resources that achieve significant appreciation in existing economic,political,and cultural structures through active and rapid reproduction,thereby influencing changes in existing economic,political,and cultural structures,including production relations with capitalist characteristics.The capitalization of culture negates the original ecological value of culture,denies human needs for culture,undermines the true value of cultural exchange and creation,and can easily lead to the formation of cultural hegemony.However,the process of cultural capitalization and the changes in cultural values within it indicate that the capitalization of culture is to some extent an inevitable historical development.The new cultural capital has demonstrated tremendous power in promoting the development of contemporary creative industries and producing cultural masterpieces.Of course,this first requires it to refuse to become a tool for economic capital and digital technology.
文摘With a long-standing tradition in the development of critical theories, Latin America seeks, through a myriad of perspectives, to understand its peripheral position within the mechanisms of the world system. This paper aims to examine the role of race and gender in sustaining the capitalist world system through the lens of decolonial studies. It considers how both categories were historically constructed during the colonial process as tools to legitimize social, economic, and political hierarchies between the dominant and the dominated. In particular, the division of labor, based on racial and gendered distinctions, was instrumental in shaping these power relations. By analyzing these categories as central elements in the formation and maintenance of the capitalist world system, the study highlights their continued influence in perpetuating inequalities today.
基金Supported by Guangdong Province Philosophy and Social Science Planning Project(GD24CGL18&GD23CGL02).
文摘Investigation and analysis of the current status of farmers'livelihood capital and promptly discovering and solving problems in farmers'livelihood development are of great practical significance for optimizing farmers'livelihood strategies and enhancing farmers'livelihood sustainable development capability.Based on the framework of sustainable livelihood analysis,taking Yangshan County as an example,this paper uses field surveys,questionnaires and interviews to summarize and analyze the current status and characteristics and main problems of local farmers'livelihood capitals on the basis of the data of 628 farmer samples.It proposes countermeasures for future development of farmers'livelihoods.Implementing these strategies will be helpful for improving the livelihoods capital structure of farmers'and enhancing their sustainable development capability.
文摘China’s investment is creating life-changing opportunities for Rwandans In a significant development in the bilateral eco-nomic partnership,Chinese investors injected some$460 million into Rwanda’s economy in 2024.This accounted for 14.1 percent of all registered foreign capital in Rwanda,making China the country’s leading foreign investor.According to a report from the Rwanda Development Board(RDB).
文摘This October,I had the opportunity to attend the 6th International Ancient Capitals Forum in Luoyang,central China’s Henan Province.The event gathered diplomats,government officials,scholars,and journalists from more than 30 countries.For me,the three days in Luoyang were not just a professional experience-they became a memorable cultural journey that helped me explore the heritage of both China and my own country,Myanmar.
文摘The paper addresses the impacts of political exits on capital structure policies,through studying the impact of the Brexit deal on the UK's companies listed at FTSE 100 as a practical case.The study is divided into two periods:the first before the Brexit deal(2010-2015)and the second after the referendum until Brexit(2016-2021).Data were collected from the annual reports of the UK companies and the FTSE 100 database.Moreover,capital structure policies were studied by analyzing the determinants such as long-term debt over total equity,profitability,tangibility,liquidity,propensity to pay dividends,size,and political factor-Brexit.The results show that there is a direct relationship between political exits and capital structure.Also,the results show that the financial ratios are different between the two periods(before and after Brexit),where it seems that the capital structure variables were affected starting from the referendum period,political negotiations between the two parties,and then Brexit(2016-2021).In addition,the correlation matrix shows that long-term debt over total equity has a negative correlation with profitability,liquidity,and political factors,where it seems that long-term debt over total equity has a positive correlation with tangibility,size,and paying dividends.Moreover,the results show that political shocks were affecting the FTSE 100 performance starting from 2016 until 2021.The study could be useful for financial and economic academics.Moreover,the study could be helpful for EU members and the UK government,taking into consideration the interests of the UK and EU where any future policies or laws will affect the financial and economic sectors of the two parties.
文摘By using the Chinese stock market data from 2018 to 2024,the weak association between structural trends stocks and market index under investors’preference effect in trading cause the market is lack of liquidity and more likely to be dominated by structural trends,as in this market,the willingness to engage in passive trading exceeds that for active trading and investors’preference easy to reverse toward market volatility.The lack of incremental capital in the market often leads to sector-specific rallies rather than broad-based increases,which is one of the key reasons why the Chinese stock market has struggled to achieve overall growth over the long-term period.
文摘This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings from previous studies to provide a comprehensive overview of the relationships among these variables.Profitability,often measured by Return on Assets(ROA)or Return on Equity(ROE),is expected to have a positive relationship with firm value as it reflects a company’s ability to generate profits.Firm size,measured by total assets or the logarithm of sales,is also assumed to influence firm value,both through economies of scale and better access to capital markets.Meanwhile,capital structure,measured by Debt to Equity Ratio(DER)or Debt to Asset Ratio(DAR),has a complex impact;while debt can enhance firm value through tax shields,excessive debt levels can increase financial risk and potentially decrease firm value.The synthesis of literature indicates a general consensus on the importance of profitability and firm size in shaping firm value,though there is variation in the significance and direction of the relationship for capital structure variables.This study provides important implications for company managers and investors in making strategic decisions related to resource allocation and selecting an optimal capital structure to enhance firm value.
文摘With intensifying market competition and growing financial complexity,strengthening risk control in corporate capital investment management has become imperative.This paper examines the critical role of risk management in ensuring financial stability,optimizing resource allocation,and achieving strategic objectives.It identifies key risk categories including market volatility,liquidity challenges,operational risks,and strategic misalignment,while proposing targeted strategies such as dynamic monitoring,strategic planning,decision-making optimization,and focused risk management.
文摘Objectives:For the younger generation(i.e.,Millennials and Generation Z),running is not only about physical health,but also about building psychological resources and multidimensional well-being,reflecting their unique culture and lifestyle.This study aims to investigate the structural relationships among exercise commitment,psychological capital(PsyCap),and flourishing in younger adults in South Korea by integrating Social Cognitive Theory(SCT)and Broaden-and-Build Theory(BBT)using a second-order partial least squares structural equation modeling(PLS-SEM).Methods:A total of 166 participants were recruited through convenience sampling via online survey.They were young South Korean adults(born 1983–2005)who run at least once a week and were recruited through two universities and running communities.The survey included validated scales measuring exercise commitment(cognitive and behavioral),PsyCap(hope,efficacy,resilience,and optimism),and flourishing(emotional,psychological,and social well-being).Data were analyzed using PLS-SEM with 5000 bootstrap resamples in SmartPLS 4.1.1.2.Subsequently,mea-surement and structural models were assessed through confirmatory composite analysis(CCA),and common method variance(CMV)was checked using Harman’s single-factor test.Results:Exercise commitment significantly predicted PsyCap(β=0.171,p<0.05)and PsyCap significantly predicted flourishing(β=0.444,p<0.001).Mediation analysis confirmed that PsyCap fully mediated the relationship between exercise commitment and flourishing(β=0.071,p<0.05).Although the indirect effect may appear numerically small,it translated to a 7.1%increase in flourishing scores—a practically meaningful effect in social science contexts where even modest changes yield real-world impact.The findings empirically support the integration of two frameworks,highlighting both motivational(SCT)and affective(BBT)pathways through which exercise fosters multidimensional well-being.Conclusions:Theoretically,this study advances understanding of how cognitive and behavioral commitment contribute to the development of psychological resources that collectively drive flourishing.Practically,the results suggest that running programs targeting younger adults should focus on fostering PsyCap—via goal setting,social support,and digital engagement—to maximize well-being outcomes.Moreover,the findings have the potential to inform mental health promotion strategies beyond the Korean context.This study has several limitations,including a skewed sample resulting from convenience sampling,the lack of comparative analysis across different age cohorts,and the use of second-order constructs that may obscure dimension-specific effects.Future research should address these limitations by employing stratified sampling,adopting comparative study designs,and conducting model comparisons between first-and second-order constructs to elucidate both overarching and dimension-specific pathways.
基金support from Programa de Apoyo a la Investigacion(PAI)2023,Universidad Adolfo IbanezFONDECYT Grant No.1240098 is greatly acknowledged.
文摘Recent literature has focused on the venture capital investments of large family firms made through their family offices.However,evidence regarding informal venture capital provided to nascent entrepreneurs by small family businesses is scant.I contribute to the literature by modeling the angel investments of about 30,000 family and nonfamily business entrepreneurs across 49 countries,who contributed about$64 million to businesses started by other entrepreneurs over a 3-year period.Based on this sample,I conclude that in countries with higher rates of small family businesses,angel investors are likely fewer,and the amounts invested in start-ups are also lower.Furthermore,I conclude that the owners/managers of small family businesses invest comparatively less capital in start-ups,irrespective of family relationships.I infer that this is attributable to the financing preferences of family businesses,which favor the use of internal resources for their continuity and the growth of their family capital.
基金Exploratory study on Haikou’s accelerate development of“International Performing Arts Capital”under the background of Hainan Free Trade Port,Stage results of Haikou Philosophy and Social Planning Project in 2025(2025-ZCKT-96)。
文摘Focusing on Haikou’s strategic development to become the“Capital of Chinese Tourism Performances,”this paper delves into its foundational conditions and implementation paths.By analyzing Haikou’s rich cultural resources,favorable geographical environment,thriving tourism industry,and continuously improving policy support,it explores how to further integrate resources,innovate development,enhance the quality and influence of tourism performances,and achieve the goal of becoming the“Capital of Chinese Tourism Performances.”This provides theoretical support and practical guidance for the high-quality development of Haikou’s cultural and tourism industry.
基金supported by Hunan Province Education Department Outstanding Youth Project(23B1131)Hunan Province Education Science Fourteenth Five-Year Plan Project(XJK24BXL003).
文摘The current study conducted the psychological capital profiles and the relation between profile memberships and learning burnout among undergraduates.Participants were 541 Chinese undergraduates ranging from 18 to 21 years old(48.2%male;Mean years=19.54,SD=1.09 years).Latent profile analysis revealed three categories of psychological capital profile consistent high psychological capital profile(50.5%),consistent low psychological capital profile(38.1%),and dominate loss-orientated psychological capital profile(11.4%).The undergraduates in consistent high profile reported high self-efficacy,resilience,hope,and optimism.Consistent low profile characterized by a little low(~0.50 SD below the M)self-efficacy,resilience,hope,and optimism.Dominant loss-orientated profile displayed low self-efficacy,hope,optimism,but a little relatively high resilience.Specifically,undergraduates in consistent high profile exhibited low level of learning burnout;while undergraduates with low level of psychological capital(i.e.,consistent low profile and dominate loss-orientated profile)reported high level of learning burnout.The findings have theoretical significance which provides important knowledge about psychological capital profile among Chinese undergraduates.They have practical implications for student counselling and development providing person-centric support to students based on their individual psychological profiles.
