Rare earths,as a strategic mineral resource,play a vital role in high-tech industries such as aerospace,national defense and military,electronic information,and new energy.With the accelerated evolution of the new rou...Rare earths,as a strategic mineral resource,play a vital role in high-tech industries such as aerospace,national defense and military,electronic information,and new energy.With the accelerated evolution of the new round of technological revolution and industrial transformation,global supply chain security risks have become more prominent.The focus of major countries'resource security assurance has also shifted from bulk minerals to critical minerals.展开更多
The Reference Listed drug(RLD)plays a critical role in the development and research of generic medicinal products,serving as the comparator product used in the marketing authorization application of new generic medici...The Reference Listed drug(RLD)plays a critical role in the development and research of generic medicinal products,serving as the comparator product used in the marketing authorization application of new generic medicinal product and re-evaluation of generic medicinal product.In China,RLDs are sourced from various origins,but their quality and market availability can be constrained by multiple factors,including emergent issues such as nitrosamine impurities.Five classes of medicinal products have been reported to be at risk for containing nitrosamine impurities:sartan-based medicines,metformin-containing products,ranitidine medicines,rifampicin medicines,and Champix.This paper explores the control strategies implemented by drug regulatory agencies in the United States and the European Union to manage nitrosamine impurities and assesses their impact on the market availability and quality of RLDs in China.The aim is to offer valuable insights for generic drug manufacturers and regulatory bodies both domestically and internationally.展开更多
Data on discrete,isolated attributes of the marine economy are often used in traditional marine economic research.However,as the focus of urban research shifts from internal static attributes to external dynamic linka...Data on discrete,isolated attributes of the marine economy are often used in traditional marine economic research.However,as the focus of urban research shifts from internal static attributes to external dynamic linkages,the importance of marine economic net-work research is beginning to emerge.The construction of the marine economic network in China’s coastal areas is necessary to change the flow of land and sea resources and optimize regional marine economic development.Employing data from headquarters and branches of sea-related A-share listed enterprises to construct the marine economic network in China,we use social network analysis(SNA)to discuss the characteristics of its evolution as of 2010,2015,and 2020 and its governance.The following results were obtained.1)In terms of topological characteristics,the scale of the marine economic network in China’s coastal areas has accelerated and expan-ded,and the connections have become increasingly close;thus,this development has complex network characteristics.2)In terms of spatial structure,the intensity of the connection fluctuates and does not form stable development support;the group structure gradually becomes clear,but the overall pattern is fragmented;there are spatial differences in marine economic agglomeration radiation;the radi-ation effect of the eastern marine economic circle is obvious;and the polarization effect of northern and southern marine economic circles is significant.On this basis,we construct a framework for the governance of a marine economic network with the market,the government,and industry as the three governing bodies.By clarifying the driving factors and building objectives of marine economic network construction,this study aims to foster the high-quality development of China’s marine economy.展开更多
On Apr.26th,2024,with the release of Marumi’s financial report,the listed enterprises of domestic cosmetics announced their performance for 2023.Upon analyzing the the list of TOP 10 listed enterprises of domestic co...On Apr.26th,2024,with the release of Marumi’s financial report,the listed enterprises of domestic cosmetics announced their performance for 2023.Upon analyzing the the list of TOP 10 listed enterprises of domestic cosmetics from 2021 to 2023(Only enterprises with makeups/daily cosmetics as their main businesses have been counted),it is found that there were new changes in the list for 2023.On the one hand,the TOP 1 listed enterprise of domestic cosmetics has been replaced by PROYA.展开更多
On Mar.29th,2024,Bawei Biotechnology was listed at Beijing Stock Exchange.So far,Bawei Biotechnology has smoothly become“the first cosmetics OEM listed at Beijing Stock Exchange”,as well as the first A-share cosmeti...On Mar.29th,2024,Bawei Biotechnology was listed at Beijing Stock Exchange.So far,Bawei Biotechnology has smoothly become“the first cosmetics OEM listed at Beijing Stock Exchange”,as well as the first A-share cosmetics enterprise listed in 2024.At the opening quotation,the stock price increase of Bawei Biotechnology exceeded 200%,and the total market value exceeded 1.4 billion yuan.Bawei Biotechnology mainly engages in the R&D,production,sales and detection of cosmetics,with the product category covering skin care product,facial mask,toiletry,and makeup.So far,it has served a total of 1,000 cosmetics brands,including Unilever,Renhe Ingenuity,HBN,SKINTIFIC,Marubi Biotechnology,PROF.展开更多
In the first half of 2024,due to the diversified global supply and increasing supply in the domestic market,rare earth prices fluctuated largely and it showed an oversupply in the market in the short term.The prices o...In the first half of 2024,due to the diversified global supply and increasing supply in the domestic market,rare earth prices fluctuated largely and it showed an oversupply in the market in the short term.The prices of mainstream rare earth products slumped and the average price decreased year-on-year.The overall rare earth market was weak.Except for cerium products,the prices of major light rare earth products,such as praseodymium and neodymium,generally showed a downward trend since the beginning of the year,and the average price dropped sharply year-on-year.Driven by the continuous increase in demand for CeFeB permanent magnets,the price of cerium products ran steadily since the initial move.The price of medium and heavy rare earth products such as dysprosium and terbium showed a similar downward trend to that of praseodymium and neodymium products.Generally,the rare earth market in the first half of 2024 mainly reflected in the fast and significant price drop and lasted for a long period,which resulted in the evidently decline in the performances of both upstream and downstream rare earth enterprises in China.展开更多
Agricultural enterprises are integral for agricultural modernization,serving as a bridge between scattered small-scale farmers and modern markets.However,agricultural competitiveness is still weak in China.This paper ...Agricultural enterprises are integral for agricultural modernization,serving as a bridge between scattered small-scale farmers and modern markets.However,agricultural competitiveness is still weak in China.This paper uses the Technique for Order of Preference by Similarity to Ideal Solution(TOPSIS)method to measure the growth performance of China's listed agricultural companies and analyze its influencing factors based on Panel-Corrected Standard Errors(PCSE)to verify whether they are capable of achieving sustainable development.The findings confirm that first,listed Chinese agricultural companies have significantly increased profitability and scale in recent years but are still weak compared to other industries.The growth performance of such enterprises is generally stable,the difference between them is decreasing,and their growth ranking fluctuates greatly,with significant regional and industrial characteristics.Second,technological efficiency,scale,and age are positively related to the growth of listed agricultural companies.The diversification and expansion of business harm the profitability and development of enterprises.Currently,financial support can satisfy the short-term profit-seeking demands of enterprises but is inadequate to improve the ability of enterprises to grow.Third,China's listed agricultural companies need to devise policies through a forward-looking perspective and use them more effectively.Additionally,the transformation opportunities introduced by non agricultural capital into agriculture deserve attention.When agricultural enterprises realize technological progress via modern capital,they understand the importance of utilizing and integrating technological innovation and increase the efficiency of transforming new technology into productivity.Policy orientation should be attentive to the public welfare of these listed companies and take into account the demands of corporate profits to realize the long-term sustainable development of enterprises and regions.展开更多
Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct in...Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct influence on the healthy development of the swine industry.Using the DEA-based Malmquist method,this paper made a static and dynamic evaluation of the operation efficiency of 16 listed companies in China's swine industry in 2010-2014.It obtained following results:(i)The overall efficiency of listed companies of China's swine industry remained at high level and the development trend was excellent.(ii)Different types of enterprises had difference in the overall efficiency,pure technical efficiency and scale efficiency.In general,pig feed processing companies had the best performance,followed by slaughtering and deep processing companies,and swine breeding companies were the worst.(iii)The total factor productivity characterized by the Malmquist index declined year by year in 2010-2013 and was improved in 2014,mainly due to technological progress.(iv)The total asset turnover ratio,equity concentration,and R&D management level had a significantly positive impact on the operation efficiency of listed companies in the swine industry,while the human capital had a significantly negative impact.展开更多
The Approved Drug Products with Therapeutic Equivalence Evaluations(commonly known as the Orange Book)includes the products approved by Food and Drug Administration(FDA)to be marketed in the USA,and it is an essential...The Approved Drug Products with Therapeutic Equivalence Evaluations(commonly known as the Orange Book)includes the products approved by Food and Drug Administration(FDA)to be marketed in the USA,and it is an essential source for the selection of suitable reference listed drugs(RLD)for a chemical generic medicinal product.The Orange Book assigns a therapeutic equivalence(TE)evaluation code for approved multisource prescription drug products to serve as public information in the area of medicinal product selection.In the present study,we introduced the TE coding system and its influence on the selection of the RLD in China by taking the Topiramate Extended-release Capsules as an example.As a result,it was suggested to determine its TE evaluation code in the Orange Book previously when we choose an RLD and select suitable RLD the first letter of whose TE evaluation code is A to carry out the research and development of a generic medicinal product,which can improve the probability of success of clinical bioequivalence(BE)test and reduce the risk of generic medicinal product development.展开更多
The essential feature of agriculture is the interweave- ment of natural reproduction and economic reproduction.In recent years,the natural disasters have become more frequent and badly affect the production management...The essential feature of agriculture is the interweave- ment of natural reproduction and economic reproduction.In recent years,the natural disasters have become more frequent and badly affect the production management and investment benefits.This problem has been an important risk in managing agricultural listed companies and cannot be ignored.It is of great importance to evaluate and prevent the risks of the natural disasters to enhance the competitive ability and increase the profits of those listed companies,thereby keeping the sustainable development of agri- cultural companies.展开更多
Capital structure is the basis for assessing the efficiency of enterprise financing activity. The rational capital structure could reduce the cost of capital and plays an important role in managing a company. Thus thi...Capital structure is the basis for assessing the efficiency of enterprise financing activity. The rational capital structure could reduce the cost of capital and plays an important role in managing a company. Thus this paper, based on the real estate listed companies on Shenzhen and Shanghai stock markets, analyzes the factors which influence capital structure, such as profitability, size, collateral value of assets, growth, stockholder’s equity, concentration degree of control power, ownership attribute, and applied statistics tools used to help the real estate listed companies optimize the structure of capital.展开更多
This paper improved the known study for technical progress in Malmquist productivity index calculating. In the method, all the possible movements for decision making units （DMUs） are listed, and the condition that s...This paper improved the known study for technical progress in Malmquist productivity index calculating. In the method, all the possible movements for decision making units （DMUs） are listed, and the condition that several DMUs lie on the productivity frontier is analyzed. The dynamic efficiencies of Chinese listed power companies from 1997 to 2006 were evaluated. The empirical results indicate that the improved method is effective.展开更多
The Dynamic relation mechanism between ZCE cotton futures price and related listed company stock price has been studied based on the metastock historical data in January 1st,2007 to September 1st,2010,Johansen co-inte...The Dynamic relation mechanism between ZCE cotton futures price and related listed company stock price has been studied based on the metastock historical data in January 1st,2007 to September 1st,2010,Johansen co-integration analysis,Vector error correction model,Granger causality test and variance decomposition method.The results indicated that:long-term equilibrium relationship existed between ZCE cotton futures price and Xinsai share stock price while which changed in the same tendency and speed in the long-term.Cotton futures price is the main reason for the changing of Xinsai share stock price.The lead-lag relationship in changing course had been confirmed that existed between ZCE cotton futures price and the Xinsai share stock price.Meanwhile,the forward pass mechanism of price changing information had been found only from the ZCE cotton futures market to the stock market while showing asymmetry.Conclusions of the study can be used for cotton and related corporate to hedge business risks by the cotton price changes.展开更多
In combination with the data of loss-making listed companies in manufacturing industry at capital market in 2008-2010,this paper analyzed the characteristics of loss of listed companies.Major reasons include the blind...In combination with the data of loss-making listed companies in manufacturing industry at capital market in 2008-2010,this paper analyzed the characteristics of loss of listed companies.Major reasons include the blind investment of management personnel,low operation and management level,blind pursuit of diversified operation,improper stock right structure,weak supervision of government,and imperfect delisting system.Finally,it came up with some countermeasures,including improving quality of management personnel,management personnel selecting proper investment projects,strengthening internal management of enterprise,implementing effective asset rearrangement,setting up effective incentive and restrictive mechanism,bringing into play regulation function of banks,improving delisting mechanism,reducing centralization of state owned stock right,and establishing and improving market information disclosure system.展开更多
The dual agency relation and lack of effective incentive and restraint mechanism make stock right structure of China's listed companies special.This special stock right structure will inevitably exert direct and p...The dual agency relation and lack of effective incentive and restraint mechanism make stock right structure of China's listed companies special.This special stock right structure will inevitably exert direct and profound influence on formulation of cash dividend policies.Based on the 2007 to 2010 data of China's agricultural listed companies and focusing on the stock right structure,this paper selected 6 indicators and the BP ANN to build the cash dividend policy identification model,in the hope of helping investors accurately predict influence of stock right structure on cash dividend policies,so as to reduce investment risk to some extent.展开更多
Privileged information has significant importance to listed companies, given both the extent of the markets in which it is used and the relevant effects that it can produce on the prices of financial instruments. The ...Privileged information has significant importance to listed companies, given both the extent of the markets in which it is used and the relevant effects that it can produce on the prices of financial instruments. The term “privileged information” means information that has not yet been made known to the public, which, if disclosed, is able to affect significantly the prices of the securities of listed issuers. This article aims to prove that in many cases, the effects of privileged information can be adequately represented in financial statements, despite their “confidential” nature. For this purpose, this research proposes the existence of a relationship—which can be virtuous or vicious—between financial statements and privileged information. In order to demonstate this thesis, the author carried out an empirical survey concerning both the economic and the legal sector. For the first one, the research considered the price-sensitive information published by companies listed on the Italian Stock Exchange during the first half of 2018, and the result shows that a lot of privileged information is able to generate accounting effects;for the second one, the empirical survey analyzed some significant judgments passed by the Italian Court of Cassation in the 2000s which confirm the companies’ violation of the duty to present privileged information in financial statements.展开更多
Agriculture is the foundation of national economy,and agricultural development is related to the rapid development of long-term stability of the society and economy. Agriculture includes farming,forestry,animal husban...Agriculture is the foundation of national economy,and agricultural development is related to the rapid development of long-term stability of the society and economy. Agriculture includes farming,forestry,animal husbandry,and fisheries. Agricultural listed company as an agricultural enterprise " leader",which directly affects the development of the entire growth of the agricultural industry development and policy,so the study of agricultural listed company's growth is particularly important. This paper uses AHP weighting method to evaluate 2012 financial data on the growth of agricultural listed companies.展开更多
On the basis of industrial division of China's Securities Regulatory Commission,listed companies in the processing industry of agro-products and food production industry have also been incorporated into agricultur...On the basis of industrial division of China's Securities Regulatory Commission,listed companies in the processing industry of agro-products and food production industry have also been incorporated into agricultural listed companies.Developmental discrepancy of agricultural listed companies is analyzed.The main manifestations are small population quantity,slow development,weak growing capacity,relatively poor rationality and unbalanced regional distribution.The internal causes of this kind of situation lie in the weak quality and inadequate developmental driving force of agricultural listed companies,while the external causes are the capital chasing and unbalanced political support of the country.Therefore,the key of quickening the development of agricultural listed companies is inner power and external competition.Thus,the political thoughts of the development of agricultural listed companies are proposed.展开更多
From the aspects of profitability, debt paying ability, operational capacity, cash flow capacity, and innovation capacity, the sustainable development evaluation system of new energy listed companies in China was esta...From the aspects of profitability, debt paying ability, operational capacity, cash flow capacity, and innovation capacity, the sustainable development evaluation system of new energy listed companies in China was established, and then an empirical analysis was conducted. Finally, some policy suggestions were put forward. The empirical analysis shows that there are many problems in the sustainable development of new ener- gy listed companies in China.展开更多
Recently,the World Journal Clout Index(WJCI)2021 report was published.It is a report jointly developed by the evaluation and research departments of six institutes,namely,the Institute of Scientific and Technical Info...Recently,the World Journal Clout Index(WJCI)2021 report was published.It is a report jointly developed by the evaluation and research departments of six institutes,namely,the Institute of Scientific and Technical Information of China,China Academic Journal(CD version)Electronic Magazine Co.,Ltd.,Tsinghua University Library,Wanfang Data Co.,Ltd.,Society of China University Journals and China Editology Society of Science Periodicals.The Chinese Medicine and Culture has been successfully listed in the report.展开更多
文摘Rare earths,as a strategic mineral resource,play a vital role in high-tech industries such as aerospace,national defense and military,electronic information,and new energy.With the accelerated evolution of the new round of technological revolution and industrial transformation,global supply chain security risks have become more prominent.The focus of major countries'resource security assurance has also shifted from bulk minerals to critical minerals.
基金Subject construction funding project of Institute for Chemical Drug Control(Grant No.2024HYZX42)in National Institutes for Food and Drug Control,Beijing,China。
文摘The Reference Listed drug(RLD)plays a critical role in the development and research of generic medicinal products,serving as the comparator product used in the marketing authorization application of new generic medicinal product and re-evaluation of generic medicinal product.In China,RLDs are sourced from various origins,but their quality and market availability can be constrained by multiple factors,including emergent issues such as nitrosamine impurities.Five classes of medicinal products have been reported to be at risk for containing nitrosamine impurities:sartan-based medicines,metformin-containing products,ranitidine medicines,rifampicin medicines,and Champix.This paper explores the control strategies implemented by drug regulatory agencies in the United States and the European Union to manage nitrosamine impurities and assesses their impact on the market availability and quality of RLDs in China.The aim is to offer valuable insights for generic drug manufacturers and regulatory bodies both domestically and internationally.
基金Under the auspices of the Key Research Base of Humanities and Social Sciences of the Ministry of Education of China(No.22JJD790029)。
文摘Data on discrete,isolated attributes of the marine economy are often used in traditional marine economic research.However,as the focus of urban research shifts from internal static attributes to external dynamic linkages,the importance of marine economic net-work research is beginning to emerge.The construction of the marine economic network in China’s coastal areas is necessary to change the flow of land and sea resources and optimize regional marine economic development.Employing data from headquarters and branches of sea-related A-share listed enterprises to construct the marine economic network in China,we use social network analysis(SNA)to discuss the characteristics of its evolution as of 2010,2015,and 2020 and its governance.The following results were obtained.1)In terms of topological characteristics,the scale of the marine economic network in China’s coastal areas has accelerated and expan-ded,and the connections have become increasingly close;thus,this development has complex network characteristics.2)In terms of spatial structure,the intensity of the connection fluctuates and does not form stable development support;the group structure gradually becomes clear,but the overall pattern is fragmented;there are spatial differences in marine economic agglomeration radiation;the radi-ation effect of the eastern marine economic circle is obvious;and the polarization effect of northern and southern marine economic circles is significant.On this basis,we construct a framework for the governance of a marine economic network with the market,the government,and industry as the three governing bodies.By clarifying the driving factors and building objectives of marine economic network construction,this study aims to foster the high-quality development of China’s marine economy.
文摘On Apr.26th,2024,with the release of Marumi’s financial report,the listed enterprises of domestic cosmetics announced their performance for 2023.Upon analyzing the the list of TOP 10 listed enterprises of domestic cosmetics from 2021 to 2023(Only enterprises with makeups/daily cosmetics as their main businesses have been counted),it is found that there were new changes in the list for 2023.On the one hand,the TOP 1 listed enterprise of domestic cosmetics has been replaced by PROYA.
文摘On Mar.29th,2024,Bawei Biotechnology was listed at Beijing Stock Exchange.So far,Bawei Biotechnology has smoothly become“the first cosmetics OEM listed at Beijing Stock Exchange”,as well as the first A-share cosmetics enterprise listed in 2024.At the opening quotation,the stock price increase of Bawei Biotechnology exceeded 200%,and the total market value exceeded 1.4 billion yuan.Bawei Biotechnology mainly engages in the R&D,production,sales and detection of cosmetics,with the product category covering skin care product,facial mask,toiletry,and makeup.So far,it has served a total of 1,000 cosmetics brands,including Unilever,Renhe Ingenuity,HBN,SKINTIFIC,Marubi Biotechnology,PROF.
文摘In the first half of 2024,due to the diversified global supply and increasing supply in the domestic market,rare earth prices fluctuated largely and it showed an oversupply in the market in the short term.The prices of mainstream rare earth products slumped and the average price decreased year-on-year.The overall rare earth market was weak.Except for cerium products,the prices of major light rare earth products,such as praseodymium and neodymium,generally showed a downward trend since the beginning of the year,and the average price dropped sharply year-on-year.Driven by the continuous increase in demand for CeFeB permanent magnets,the price of cerium products ran steadily since the initial move.The price of medium and heavy rare earth products such as dysprosium and terbium showed a similar downward trend to that of praseodymium and neodymium products.Generally,the rare earth market in the first half of 2024 mainly reflected in the fast and significant price drop and lasted for a long period,which resulted in the evidently decline in the performances of both upstream and downstream rare earth enterprises in China.
基金Supported by the National Natural Science Foundation of China[Grant number.41871109]the Agricultural Science and Technol‐ogy Innovation Program[Grant number.ASTIPIAED-2021-06].
文摘Agricultural enterprises are integral for agricultural modernization,serving as a bridge between scattered small-scale farmers and modern markets.However,agricultural competitiveness is still weak in China.This paper uses the Technique for Order of Preference by Similarity to Ideal Solution(TOPSIS)method to measure the growth performance of China's listed agricultural companies and analyze its influencing factors based on Panel-Corrected Standard Errors(PCSE)to verify whether they are capable of achieving sustainable development.The findings confirm that first,listed Chinese agricultural companies have significantly increased profitability and scale in recent years but are still weak compared to other industries.The growth performance of such enterprises is generally stable,the difference between them is decreasing,and their growth ranking fluctuates greatly,with significant regional and industrial characteristics.Second,technological efficiency,scale,and age are positively related to the growth of listed agricultural companies.The diversification and expansion of business harm the profitability and development of enterprises.Currently,financial support can satisfy the short-term profit-seeking demands of enterprises but is inadequate to improve the ability of enterprises to grow.Third,China's listed agricultural companies need to devise policies through a forward-looking perspective and use them more effectively.Additionally,the transformation opportunities introduced by non agricultural capital into agriculture deserve attention.When agricultural enterprises realize technological progress via modern capital,they understand the importance of utilizing and integrating technological innovation and increase the efficiency of transforming new technology into productivity.Policy orientation should be attentive to the public welfare of these listed companies and take into account the demands of corporate profits to realize the long-term sustainable development of enterprises and regions.
基金Supported by Young Scholar Project of Humanities and Social Science Foundation of Ministry of Education"Study on Stability Mechanism of Symbiosis Network of the Swine Industry"(15YJC630118)
文摘Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct influence on the healthy development of the swine industry.Using the DEA-based Malmquist method,this paper made a static and dynamic evaluation of the operation efficiency of 16 listed companies in China's swine industry in 2010-2014.It obtained following results:(i)The overall efficiency of listed companies of China's swine industry remained at high level and the development trend was excellent.(ii)Different types of enterprises had difference in the overall efficiency,pure technical efficiency and scale efficiency.In general,pig feed processing companies had the best performance,followed by slaughtering and deep processing companies,and swine breeding companies were the worst.(iii)The total factor productivity characterized by the Malmquist index declined year by year in 2010-2013 and was improved in 2014,mainly due to technological progress.(iv)The total asset turnover ratio,equity concentration,and R&D management level had a significantly positive impact on the operation efficiency of listed companies in the swine industry,while the human capital had a significantly negative impact.
基金Carry out quality evaluation research of generic medicinal product control based on domestic product,NMPA Key Laboratory for Quality Research and Evaluation of Chemical Drugs,Beijing,China。
文摘The Approved Drug Products with Therapeutic Equivalence Evaluations(commonly known as the Orange Book)includes the products approved by Food and Drug Administration(FDA)to be marketed in the USA,and it is an essential source for the selection of suitable reference listed drugs(RLD)for a chemical generic medicinal product.The Orange Book assigns a therapeutic equivalence(TE)evaluation code for approved multisource prescription drug products to serve as public information in the area of medicinal product selection.In the present study,we introduced the TE coding system and its influence on the selection of the RLD in China by taking the Topiramate Extended-release Capsules as an example.As a result,it was suggested to determine its TE evaluation code in the Orange Book previously when we choose an RLD and select suitable RLD the first letter of whose TE evaluation code is A to carry out the research and development of a generic medicinal product,which can improve the probability of success of clinical bioequivalence(BE)test and reduce the risk of generic medicinal product development.
文摘The essential feature of agriculture is the interweave- ment of natural reproduction and economic reproduction.In recent years,the natural disasters have become more frequent and badly affect the production management and investment benefits.This problem has been an important risk in managing agricultural listed companies and cannot be ignored.It is of great importance to evaluate and prevent the risks of the natural disasters to enhance the competitive ability and increase the profits of those listed companies,thereby keeping the sustainable development of agri- cultural companies.
文摘Capital structure is the basis for assessing the efficiency of enterprise financing activity. The rational capital structure could reduce the cost of capital and plays an important role in managing a company. Thus this paper, based on the real estate listed companies on Shenzhen and Shanghai stock markets, analyzes the factors which influence capital structure, such as profitability, size, collateral value of assets, growth, stockholder’s equity, concentration degree of control power, ownership attribute, and applied statistics tools used to help the real estate listed companies optimize the structure of capital.
文摘This paper improved the known study for technical progress in Malmquist productivity index calculating. In the method, all the possible movements for decision making units （DMUs） are listed, and the condition that several DMUs lie on the productivity frontier is analyzed. The dynamic efficiencies of Chinese listed power companies from 1997 to 2006 were evaluated. The empirical results indicate that the improved method is effective.
基金Supported by National Social Science Fund (06BTQ017)
文摘The Dynamic relation mechanism between ZCE cotton futures price and related listed company stock price has been studied based on the metastock historical data in January 1st,2007 to September 1st,2010,Johansen co-integration analysis,Vector error correction model,Granger causality test and variance decomposition method.The results indicated that:long-term equilibrium relationship existed between ZCE cotton futures price and Xinsai share stock price while which changed in the same tendency and speed in the long-term.Cotton futures price is the main reason for the changing of Xinsai share stock price.The lead-lag relationship in changing course had been confirmed that existed between ZCE cotton futures price and the Xinsai share stock price.Meanwhile,the forward pass mechanism of price changing information had been found only from the ZCE cotton futures market to the stock market while showing asymmetry.Conclusions of the study can be used for cotton and related corporate to hedge business risks by the cotton price changes.
基金China National Social Science Fund Project(13CGL050)Hu-manities and Social Science Research Youth Project of the Ministry of Educa-tion(13YJC630027,11YJC630243,12YJC630010)Basic Research Fund of Central Universities(SWU1309116,SWU1309202)
文摘In combination with the data of loss-making listed companies in manufacturing industry at capital market in 2008-2010,this paper analyzed the characteristics of loss of listed companies.Major reasons include the blind investment of management personnel,low operation and management level,blind pursuit of diversified operation,improper stock right structure,weak supervision of government,and imperfect delisting system.Finally,it came up with some countermeasures,including improving quality of management personnel,management personnel selecting proper investment projects,strengthening internal management of enterprise,implementing effective asset rearrangement,setting up effective incentive and restrictive mechanism,bringing into play regulation function of banks,improving delisting mechanism,reducing centralization of state owned stock right,and establishing and improving market information disclosure system.
文摘The dual agency relation and lack of effective incentive and restraint mechanism make stock right structure of China's listed companies special.This special stock right structure will inevitably exert direct and profound influence on formulation of cash dividend policies.Based on the 2007 to 2010 data of China's agricultural listed companies and focusing on the stock right structure,this paper selected 6 indicators and the BP ANN to build the cash dividend policy identification model,in the hope of helping investors accurately predict influence of stock right structure on cash dividend policies,so as to reduce investment risk to some extent.
文摘Privileged information has significant importance to listed companies, given both the extent of the markets in which it is used and the relevant effects that it can produce on the prices of financial instruments. The term “privileged information” means information that has not yet been made known to the public, which, if disclosed, is able to affect significantly the prices of the securities of listed issuers. This article aims to prove that in many cases, the effects of privileged information can be adequately represented in financial statements, despite their “confidential” nature. For this purpose, this research proposes the existence of a relationship—which can be virtuous or vicious—between financial statements and privileged information. In order to demonstate this thesis, the author carried out an empirical survey concerning both the economic and the legal sector. For the first one, the research considered the price-sensitive information published by companies listed on the Italian Stock Exchange during the first half of 2018, and the result shows that a lot of privileged information is able to generate accounting effects;for the second one, the empirical survey analyzed some significant judgments passed by the Italian Court of Cassation in the 2000s which confirm the companies’ violation of the duty to present privileged information in financial statements.
基金Supported by Research Center for Sustainable Development in Three Gorges Reservoir Area Open Fund Project(2014-sxxyjd-05)Youth Research Project of Chongqing Three Gorges University(11QN-07)Innovation Planning Project for University Students in Chongqing Three Gorges University(2014-56)
文摘Agriculture is the foundation of national economy,and agricultural development is related to the rapid development of long-term stability of the society and economy. Agriculture includes farming,forestry,animal husbandry,and fisheries. Agricultural listed company as an agricultural enterprise " leader",which directly affects the development of the entire growth of the agricultural industry development and policy,so the study of agricultural listed company's growth is particularly important. This paper uses AHP weighting method to evaluate 2012 financial data on the growth of agricultural listed companies.
文摘On the basis of industrial division of China's Securities Regulatory Commission,listed companies in the processing industry of agro-products and food production industry have also been incorporated into agricultural listed companies.Developmental discrepancy of agricultural listed companies is analyzed.The main manifestations are small population quantity,slow development,weak growing capacity,relatively poor rationality and unbalanced regional distribution.The internal causes of this kind of situation lie in the weak quality and inadequate developmental driving force of agricultural listed companies,while the external causes are the capital chasing and unbalanced political support of the country.Therefore,the key of quickening the development of agricultural listed companies is inner power and external competition.Thus,the political thoughts of the development of agricultural listed companies are proposed.
文摘From the aspects of profitability, debt paying ability, operational capacity, cash flow capacity, and innovation capacity, the sustainable development evaluation system of new energy listed companies in China was established, and then an empirical analysis was conducted. Finally, some policy suggestions were put forward. The empirical analysis shows that there are many problems in the sustainable development of new ener- gy listed companies in China.
文摘Recently,the World Journal Clout Index(WJCI)2021 report was published.It is a report jointly developed by the evaluation and research departments of six institutes,namely,the Institute of Scientific and Technical Information of China,China Academic Journal(CD version)Electronic Magazine Co.,Ltd.,Tsinghua University Library,Wanfang Data Co.,Ltd.,Society of China University Journals and China Editology Society of Science Periodicals.The Chinese Medicine and Culture has been successfully listed in the report.
