-
The Impact of Institutional Investor Attention on Enterprise Performance: Empirical Test Based on Chain Multiple Mediating Effect Model
Issue:
Volume 9, Issue 3, June 2021
Pages:
97-105
Received:
2 April 2021
Accepted:
Published:
24 May 2021
Abstract: In recent years, the number and types of institutional investors in China have achieved rapid development, and gradually become an important part of China's capital market. Institutional investors pay more attention to the long-term performance of enterprises in order to maintain their long-term and stable return on investment. This paper uses the investor relationship data of the "interactive easy" platform of Shenzhen Stock Exchange and the data of listed companies of Shenzhen Stock Exchange from 2014 to 2019 to construct the index of institutional investor attention, and empirically examines the influence mechanism of institutional investor attention on enterprise performance. Furthermore, a chain-type multiple intermediary effect model is constructed to investigate investor attention affecting enterprise performance. The results show that institutional investor attention can significantly improve enterprise performance. The attention of institutional investors can reduce the quality of economic development by increasing the innovation investment of enterprises and strengthening the incentive intensity of executive compensation, as well as the chain-type intermediary channel of “Executive Compensation Incentive Increase → Enterprise innovation investment increase”, the independent intermediary effect of executive compensation incentive is the most prominent. Furthermore, the results show that institutional investor attention promotes the performance of non-state-owned enterprises and state-owned enterprises. However, the state-owned enterprises can only improve their performance through the compensation incentive independent intermediary channels.
Abstract: In recent years, the number and types of institutional investors in China have achieved rapid development, and gradually become an important part of China's capital market. Institutional investors pay more attention to the long-term performance of enterprises in order to maintain their long-term and stable return on investment. This paper uses the ...
Show More
-
Analysis on the Role of Service Providers in Promoting the Development of Rural E-commerce --- Take Luoyang Shanxun Company as an Example
Issue:
Volume 9, Issue 3, June 2021
Pages:
106-111
Received:
1 February 2021
Accepted:
Published:
24 May 2021
Abstract: China's rural e-commerce has developed rapidly, in recent years, but there are still many bottlenecks restricting the development, such as the imbalance of regional development, the lack of e-commerce talents, the difficulty in selling agricultural product and so on. Based on the field investigation and in-depth interview of Taobao villages in Henan Province, this paper summarizes the experience of the intermediary business represented by Luoyang Shanxun company in promoting the development of Taobao village. In the rural areas without the development gene of rural e-commerce, through the "government + service provider" model, professional service providers can help the local government to carry out the overall planning, train talents and incubate e-businesses, and assist farmers' e-businesses in villages to solve the practical problems encountered in the operation of e-stores. The role of service providers in the development of rural e-commerce is worthy of recognition, and its advanced experience is worth promoting and learning. In the areas where the spontaneous growth ability of rural e-commerce is weak, it is necessary to introduce third-party professional service institutions. Through the empowerment of professional service providers, help villagers master the skills of e-commerce entrepreneurship and employment as soon as possible, and solve the difficult problems in rural e-commerce operation. Summing up and promoting the experience of professional service providers is helpful to the development of rural e-commerce in China.
Abstract: China's rural e-commerce has developed rapidly, in recent years, but there are still many bottlenecks restricting the development, such as the imbalance of regional development, the lack of e-commerce talents, the difficulty in selling agricultural product and so on. Based on the field investigation and in-depth interview of Taobao villages in Hena...
Show More
-
Research on the Invulnerability of Chinese Banking System
Issue:
Volume 9, Issue 3, June 2021
Pages:
112-118
Received:
21 April 2021
Accepted:
4 June 2021
Published:
10 June 2021
Abstract: Based on the stock transaction data of China's listed banks from 2007 to 2020, this paper constructs the complete network of tail risk spillovers among banks using the Least Absolute Shrinkage and Selection Operator (LASSO) quantile regression, and dynamically examines the characteristics of the network topology and the survivability of China's banking system. The results show that the newly listed banks are mainly the risk bearers. The role of a single bank as an isolator, risk bearer and risk disseminator in the network will change over time. City commercial banks have gradually changed from the role of risk bearer to both risk bearer and risk disseminator. The attack experiments on the Bank of China, China Merchants Bank, China CITIC Bank and Zhengzhou Bank those have the largest number of weighted media in the network for the networks of 2016, 2018, 2019 and 2020, show that large-scale cascading failure can occur in the network by changing the parameters. If the attacked bank is a risk communicator, a larger cascading effect may occur, in turn, lead to the Invulnerability of the whole network reduced. In addition, we find that the scale of network cascading failure is related to the type of attacked bank and the characteristics of its adjacent banks: if the neighbor bank is the risk bearer, the risk will not be passed down; If its adjacent banks are risk dispersers, the risks will be further spread and expanded, that is, the scale of cascade failure depends on the cluster structure of the network.
Abstract: Based on the stock transaction data of China's listed banks from 2007 to 2020, this paper constructs the complete network of tail risk spillovers among banks using the Least Absolute Shrinkage and Selection Operator (LASSO) quantile regression, and dynamically examines the characteristics of the network topology and the survivability of China's ban...
Show More
-
An Assessment of Unemployment in Nigeria Before and During Millennium Development Goals (MDGs): Lessons for Post- 2015 Global Development Agenda
Issue:
Volume 9, Issue 3, June 2021
Pages:
119-127
Received:
2 April 2021
Accepted:
16 April 2021
Published:
21 June 2021
Abstract: The paper assessed the rate of unemployment before and during the millennium development goals (MDGs). The purpose was to ascertain the extent to which MDGs strategies and programs have assisted in the reduction of unemployment in Nigeria. Secondary data gathered between 1985 and 2018 was used in the evaluation. Findings showed the unemployment rates before the implementation of the MDGs program (1985-1999) were relatively stable at one digit, with the highest rate being 7.1% in 1987 while the average rate for the referenced period stood at 3.74%. The contrast was the case when MDGs were introduced in the year 2000, in which year the unemployment rate jumped from 3.0% in 1999 to 26.8% in 2015, representing an increase of over 700%. During the period of the MDGs (2000-2015), unemployment rate assumed two digits, increasing from 13.1% in 2000 to 26.8% in 2015, averaging about 17.7% with its attendant impact on the livelihood of the average citizen. The sharp rise in unemployment rates during the period of MDGs is a piece of evidence that the MDG programs, despite its laudable objectives, failed to reduce unemployment and eradicate poverty. The reasons for this could be attributed to, but not limited to poor and uncoordinated funding of the program, targets mismatch and absence of monitoring and evaluation (M&E) of the MDGs projects. The study also revealed that there exists a somewhat positive relationship between unemployment and poverty in Nigeria. The paper recommended among others that MDGs project goals should be measurable, monitored and evaluated, recognize the effect of violence, militancy, and insurgency on development programs and finally, government should vigorously pursue productive employment creation for the realization of its inclusive growth potentials, if the post-2015 Global Development Agenda is to succeed.
Abstract: The paper assessed the rate of unemployment before and during the millennium development goals (MDGs). The purpose was to ascertain the extent to which MDGs strategies and programs have assisted in the reduction of unemployment in Nigeria. Secondary data gathered between 1985 and 2018 was used in the evaluation. Findings showed the unemployment rat...
Show More
