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
The paper had illustrated fruitful achievements Baise had gained in these years in terms of capitalization operation and capital increase of national culture,and generally analyzed deficiencies in capitalization of Ba...The paper had illustrated fruitful achievements Baise had gained in these years in terms of capitalization operation and capital increase of national culture,and generally analyzed deficiencies in capitalization of Baise national culture.It emphasized that utilization,integration and development of national cultural resources were not enough in intensity;capitalized degree of national culture was low and national cultural products were simple and low in level.Finally,the new mode was proposed to integrate national cultural resources,activate inner vitality of national cultural capital and renovate capitalization of national culture.展开更多
Based on the results of the 14 thcomprehensive adjustment of NIPAS published by BEA in July of 2013,this paper employs the national economic accounting principles to analyze the impact of R&D capitalization on Mac...Based on the results of the 14 thcomprehensive adjustment of NIPAS published by BEA in July of 2013,this paper employs the national economic accounting principles to analyze the impact of R&D capitalization on Macroeconomic Variables from both the theoretical and empirical aspects. The results show that R&D capitalization will produce impact on many macroeconomic variables. Although some changes of the indexes are very small in amount, the implementation of capitalized accounting on R&D is the requirement of SNA 2008 and an inevitable trend of international accounting changes. China must further improve the statistical content of R&D, revise the accounting caliber and classification standards for R&D, explore the accounting models for R&D satellite accounts, improve the quality of R&D accounting data, strengthen the understanding of the essence of SNA 2008, so as to promote the integration of Chinese national economic accounting system with SNA 2008 as soon as possible.展开更多
To find solutions for legal system for capitalization of rural land ownership in China,this paper studied and analyzed existing problems in rural land system and legal environment using legal theory and transaction co...To find solutions for legal system for capitalization of rural land ownership in China,this paper studied and analyzed existing problems in rural land system and legal environment using legal theory and transaction cost theory. Results indicated that(i) the restriction of institutional condition upon property right and transaction is more essential,and key points include the relationship of entities of right formed jointly by the state,collective and farmers,accurate positioning of property right structure,and security for land appreciation income right and allocation mechanism;(ii) the land property right structure should select a legal structure with minimum transaction cost. It is concluded that entitling the ownership to a single entity is an economical method to eliminate current conflict of rural land right.展开更多
The capitalization of agricultural land as an institutional innovation in land use is of great significance to revitalize China's land resources, change land use and improve land use efficiency. With the gradual i...The capitalization of agricultural land as an institutional innovation in land use is of great significance to revitalize China's land resources, change land use and improve land use efficiency. With the gradual implementation of the capitalization of agricultural land, however, environmental problems brought by capitalization have restricted the sustainable and efficient utilization of agricultural land. This study, from the perspective of ecology, discusses ecological risks of agricultural land capitalization, analyzes the ecological risks of agricultural land capitalization in terms of the amount of land and land quality as well as the formation mechanism of the ecological risks of agricultural land capitalization. It is found that the logic of the capital itself, the profitability of the subject and the fragility of the ecological environment are the internal and external factors of the ecological risks of agricultural land. Thereupon authors put forward policy suggestions to prevent the ecological risks of agricultural land capitalization in terms of large-scale agricultural operations in diverse forms, the development of green agriculture, the protection of agricultural land quality and green finance, with a view to resolving the ecological risks of agricultural land capitalization and realizing the benign operation of agricultural land capitalization.展开更多
A stock exchange is an exchange where stock brokers and traders can buy and sell shares of stock, bonds, and other securities. All listings are included in the Nigerian Stock Exchange All Shares index. In terms of mar...A stock exchange is an exchange where stock brokers and traders can buy and sell shares of stock, bonds, and other securities. All listings are included in the Nigerian Stock Exchange All Shares index. In terms of market capitalization, the Nigerian Stock Exchange is the third largest stock exchange in Africa. Objectives: The paper assesses the impact of Nigerian Stock Market (all share index, market capitalization, and number of equities) on Gross domestic product (Economic Growth). Materials and Methods: Regression analysis and ordinary least square technique were employed. Result and Discussion: The series was stationary at 1%, 5%, and 10% α level;the residuals were normally distributed but not serially correlated at 5% α level. All Share Index, Market Capitalization and Total Number of listed Equities have a joint and individual significant effect on Economic Growth (Gross Domestic Product) with Total Number of listed Equities having a negative (opposite) linear relationship with the Gross Domestic Product. The Durbin-Watson statistics (R2 = 0.9910 = 1.3686) suggest that the model is not spurious and it is devoid of positive and negative autocorrelation (DW = 1.3686 > dl = 1.07 and DW = 1.5033 ?-?du = 2.17). Therefore, it can produce meaningful result when used for forecasting a positive relationship between gross domestic product, all share index and market capitalization with a 99.1% R-square value. Significant Positive connection between all share index, market capitalization, the number of equities and gross domestic product suggests that government policies and bills aimed towards rapid development of the capital market should be initiated.展开更多
When observing China＇s income distribution problems .from an international perspective, we find that China＇s income inequality is not much different from developed countries after primary distribution. The real diff...When observing China＇s income distribution problems .from an international perspective, we find that China＇s income inequality is not much different from developed countries after primary distribution. The real difference between China and developed countries is that income inequality in developed countries will reduce greatly after income redistribution while the income inequality remains the same for China. Therefore, one can conclude that income inequality in China derives from the ineffectiveness of redistribution. However, a large income gap is not the main reason for skewed income distribution in China. In fact, the problem lies in unfair distribution resulting from factor capitalization. A handful of people have taken proceeds from public assets at the expense of all the people, which has led to social poIarization. To remove unfair distribution, China should improve its means of redistribution to narrow its income gap in order to develop a fair and reasonable pattern of income distribution.展开更多
At present,targeted poverty alleviation is a major development strategy in China.Based on the investigation of Danzhai County in Guizhou Province,this paper argues that industry development is the fundamental measure ...At present,targeted poverty alleviation is a major development strategy in China.Based on the investigation of Danzhai County in Guizhou Province,this paper argues that industry development is the fundamental measure through which to implement the poverty alleviation program.Industry development includes both the development of local industries in povertystricken areas and the development of industries in other regions of China.Local development is mainly achieved when the invisible superior resources become visible and the notable superior resources are capitalized in povertystricken areas,in which,the capitalization of factors and resources relies on fundamental governmental investments which will create a profit space for the poverty-stricken areas through the down-to-countryside cadres' precise guidance for the use of poverty alleviation funds to help identify a breakthrough for industry development,and particularly the attempts to focus on the development of high-end industries under the lower-end production mode to form a community with common interests aiding poverty alleviation.Development in other regions can be mainly achieved through various modes such as "tax-finance-poverty alleviation," "industry-employment-poverty alleviation" and "industry-enterprise direct investment-poverty alleviation" to offer indirect or direct support for poverty alleviation in poverty-stricken areas.An appropriate handling is required to deal with many problems related to the local industry development in targeted poverty alleviation and the targeted poverty alleviation in industry development.展开更多
In recent years, the Chinese government has asked enterprises to follow the path of “green development”. This requirement naturally becomes the guiding ideology of coal resource capitalization theory. this paper foc...In recent years, the Chinese government has asked enterprises to follow the path of “green development”. This requirement naturally becomes the guiding ideology of coal resource capitalization theory. this paper focuses on the core contents of the green development of coal resource capitalization, and uses the software of ROSTCM6 and UCINET to construct six frameworks of the green theory of coal resource capitalization with the method of “Condensed Subgroup”: the basic theory of capitalization, the conservation theory of capitalization, the environmental protection theory of capitalization, the harmonious coexistence theory of capitalization, the mainline development theory of ecological industry of capitalization Industrial theory, benign cycle sustainable development theory of capitalization, the paper further designs the outline content of the framework.展开更多
In today＇s knowledge-based economy, the role played by human capital in the determination of the market value of a firm is recognized. To be able to persist in the open competition, entities are forced to invest incr...In today＇s knowledge-based economy, the role played by human capital in the determination of the market value of a firm is recognized. To be able to persist in the open competition, entities are forced to invest increasingly in the professional training of their employees. Inconsistent with this rising importance is the prohibition to capitalize professional training cost according to international accounting standards （IAS） 38.69 （b）. Highly qualified employees ensure competitive advantages and thus lead to an increase in shareholder value. Regarding the financial statement as a primary source of information, it does not seem reasonable to leave such a valuable resource completely unnoticed in the balance sheet. Consequently, a truthful representation of a firm＇s asset should take training costs into account. This article pleads for a limitation of this general legal prohibition and analyzes under which premises those expenditures for training can comply with the common criteria of capitalization according to IAS 38.展开更多
Unlike prior studies that investigate research and development(R&D)accounting as a dichotomous choice between capitalizing vs.expensing, this study identifies low-reliability R&D capitalization by the occurren...Unlike prior studies that investigate research and development(R&D)accounting as a dichotomous choice between capitalizing vs.expensing, this study identifies low-reliability R&D capitalization by the occurrence of ex post impairment of capitalized R&D costs.I find that low-reliability capitalization is associated with higher discretionary accruals but fails to signal future innovation, whereas normal capitalization without subsequent impairment lacks earnings aggressiveness and predicts future innovation positively, compared to expensing firms.Next, this study shows that Big 4 and industry specialist auditors improve reliability by notably decreasing the likelihood of lowreliability R&D capitalization.The results remain robust after controlling for R&D investment intensity and potential endogeneity in the capitalization decision.Additional tests show that managers strategically time the recognition of impairment for big-bath and earnings-smoothing purposes, and that analyst coverage does not help differentiate between low-reliability and normal R&D capitalization.Collectively, this paper increases our understanding of R&D accounting and auditing and contributes to the debate on the reliability of R&D capitalization.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
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
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
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.
基金Supported by Scientific Research Initiation Project of Baise University in2009(2009KB12)Periodic Achievement of Scientific Research Project of Department of Education of Guangxi Province in2010 (201010LX507)~~
文摘The paper had illustrated fruitful achievements Baise had gained in these years in terms of capitalization operation and capital increase of national culture,and generally analyzed deficiencies in capitalization of Baise national culture.It emphasized that utilization,integration and development of national cultural resources were not enough in intensity;capitalized degree of national culture was low and national cultural products were simple and low in level.Finally,the new mode was proposed to integrate national cultural resources,activate inner vitality of national cultural capital and renovate capitalization of national culture.
文摘Based on the results of the 14 thcomprehensive adjustment of NIPAS published by BEA in July of 2013,this paper employs the national economic accounting principles to analyze the impact of R&D capitalization on Macroeconomic Variables from both the theoretical and empirical aspects. The results show that R&D capitalization will produce impact on many macroeconomic variables. Although some changes of the indexes are very small in amount, the implementation of capitalized accounting on R&D is the requirement of SNA 2008 and an inevitable trend of international accounting changes. China must further improve the statistical content of R&D, revise the accounting caliber and classification standards for R&D, explore the accounting models for R&D satellite accounts, improve the quality of R&D accounting data, strengthen the understanding of the essence of SNA 2008, so as to promote the integration of Chinese national economic accounting system with SNA 2008 as soon as possible.
基金Supported by 2012 Doctoral Candidate Innovation and Practice Project of China University of Political Science and Law(2012BSCX07)
文摘To find solutions for legal system for capitalization of rural land ownership in China,this paper studied and analyzed existing problems in rural land system and legal environment using legal theory and transaction cost theory. Results indicated that(i) the restriction of institutional condition upon property right and transaction is more essential,and key points include the relationship of entities of right formed jointly by the state,collective and farmers,accurate positioning of property right structure,and security for land appreciation income right and allocation mechanism;(ii) the land property right structure should select a legal structure with minimum transaction cost. It is concluded that entitling the ownership to a single entity is an economical method to eliminate current conflict of rural land right.
基金Sponsored by The National Social Science Fund of China(15AZD062)Education Innovation Project for Graduates in Zhongnan University of Economics and Law(2016Y1054)
文摘The capitalization of agricultural land as an institutional innovation in land use is of great significance to revitalize China's land resources, change land use and improve land use efficiency. With the gradual implementation of the capitalization of agricultural land, however, environmental problems brought by capitalization have restricted the sustainable and efficient utilization of agricultural land. This study, from the perspective of ecology, discusses ecological risks of agricultural land capitalization, analyzes the ecological risks of agricultural land capitalization in terms of the amount of land and land quality as well as the formation mechanism of the ecological risks of agricultural land capitalization. It is found that the logic of the capital itself, the profitability of the subject and the fragility of the ecological environment are the internal and external factors of the ecological risks of agricultural land. Thereupon authors put forward policy suggestions to prevent the ecological risks of agricultural land capitalization in terms of large-scale agricultural operations in diverse forms, the development of green agriculture, the protection of agricultural land quality and green finance, with a view to resolving the ecological risks of agricultural land capitalization and realizing the benign operation of agricultural land capitalization.
文摘A stock exchange is an exchange where stock brokers and traders can buy and sell shares of stock, bonds, and other securities. All listings are included in the Nigerian Stock Exchange All Shares index. In terms of market capitalization, the Nigerian Stock Exchange is the third largest stock exchange in Africa. Objectives: The paper assesses the impact of Nigerian Stock Market (all share index, market capitalization, and number of equities) on Gross domestic product (Economic Growth). Materials and Methods: Regression analysis and ordinary least square technique were employed. Result and Discussion: The series was stationary at 1%, 5%, and 10% α level;the residuals were normally distributed but not serially correlated at 5% α level. All Share Index, Market Capitalization and Total Number of listed Equities have a joint and individual significant effect on Economic Growth (Gross Domestic Product) with Total Number of listed Equities having a negative (opposite) linear relationship with the Gross Domestic Product. The Durbin-Watson statistics (R2 = 0.9910 = 1.3686) suggest that the model is not spurious and it is devoid of positive and negative autocorrelation (DW = 1.3686 > dl = 1.07 and DW = 1.5033 ?-?du = 2.17). Therefore, it can produce meaningful result when used for forecasting a positive relationship between gross domestic product, all share index and market capitalization with a 99.1% R-square value. Significant Positive connection between all share index, market capitalization, the number of equities and gross domestic product suggests that government policies and bills aimed towards rapid development of the capital market should be initiated.
基金This paper is a staged achievement of ＂Study on China＇s Income Distribution＂, a project supported by National Social Science Foundation.
文摘When observing China＇s income distribution problems .from an international perspective, we find that China＇s income inequality is not much different from developed countries after primary distribution. The real difference between China and developed countries is that income inequality in developed countries will reduce greatly after income redistribution while the income inequality remains the same for China. Therefore, one can conclude that income inequality in China derives from the ineffectiveness of redistribution. However, a large income gap is not the main reason for skewed income distribution in China. In fact, the problem lies in unfair distribution resulting from factor capitalization. A handful of people have taken proceeds from public assets at the expense of all the people, which has led to social poIarization. To remove unfair distribution, China should improve its means of redistribution to narrow its income gap in order to develop a fair and reasonable pattern of income distribution.
基金sponsored by the Cooperative Innovation Center of Chinese Characterized Socialist Economic Construction
文摘At present,targeted poverty alleviation is a major development strategy in China.Based on the investigation of Danzhai County in Guizhou Province,this paper argues that industry development is the fundamental measure through which to implement the poverty alleviation program.Industry development includes both the development of local industries in povertystricken areas and the development of industries in other regions of China.Local development is mainly achieved when the invisible superior resources become visible and the notable superior resources are capitalized in povertystricken areas,in which,the capitalization of factors and resources relies on fundamental governmental investments which will create a profit space for the poverty-stricken areas through the down-to-countryside cadres' precise guidance for the use of poverty alleviation funds to help identify a breakthrough for industry development,and particularly the attempts to focus on the development of high-end industries under the lower-end production mode to form a community with common interests aiding poverty alleviation.Development in other regions can be mainly achieved through various modes such as "tax-finance-poverty alleviation," "industry-employment-poverty alleviation" and "industry-enterprise direct investment-poverty alleviation" to offer indirect or direct support for poverty alleviation in poverty-stricken areas.An appropriate handling is required to deal with many problems related to the local industry development in targeted poverty alleviation and the targeted poverty alleviation in industry development.
文摘In recent years, the Chinese government has asked enterprises to follow the path of “green development”. This requirement naturally becomes the guiding ideology of coal resource capitalization theory. this paper focuses on the core contents of the green development of coal resource capitalization, and uses the software of ROSTCM6 and UCINET to construct six frameworks of the green theory of coal resource capitalization with the method of “Condensed Subgroup”: the basic theory of capitalization, the conservation theory of capitalization, the environmental protection theory of capitalization, the harmonious coexistence theory of capitalization, the mainline development theory of ecological industry of capitalization Industrial theory, benign cycle sustainable development theory of capitalization, the paper further designs the outline content of the framework.
文摘In today＇s knowledge-based economy, the role played by human capital in the determination of the market value of a firm is recognized. To be able to persist in the open competition, entities are forced to invest increasingly in the professional training of their employees. Inconsistent with this rising importance is the prohibition to capitalize professional training cost according to international accounting standards （IAS） 38.69 （b）. Highly qualified employees ensure competitive advantages and thus lead to an increase in shareholder value. Regarding the financial statement as a primary source of information, it does not seem reasonable to leave such a valuable resource completely unnoticed in the balance sheet. Consequently, a truthful representation of a firm＇s asset should take training costs into account. This article pleads for a limitation of this general legal prohibition and analyzes under which premises those expenditures for training can comply with the common criteria of capitalization according to IAS 38.
基金the financial support from the National Natural Science Foundation of China (approval number: NSFC-71902137)
文摘Unlike prior studies that investigate research and development(R&D)accounting as a dichotomous choice between capitalizing vs.expensing, this study identifies low-reliability R&D capitalization by the occurrence of ex post impairment of capitalized R&D costs.I find that low-reliability capitalization is associated with higher discretionary accruals but fails to signal future innovation, whereas normal capitalization without subsequent impairment lacks earnings aggressiveness and predicts future innovation positively, compared to expensing firms.Next, this study shows that Big 4 and industry specialist auditors improve reliability by notably decreasing the likelihood of lowreliability R&D capitalization.The results remain robust after controlling for R&D investment intensity and potential endogeneity in the capitalization decision.Additional tests show that managers strategically time the recognition of impairment for big-bath and earnings-smoothing purposes, and that analyst coverage does not help differentiate between low-reliability and normal R&D capitalization.Collectively, this paper increases our understanding of R&D accounting and auditing and contributes to the debate on the reliability of R&D capitalization.
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.
