This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study ...This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt financing.This conclusion remains valid after a series of endogeneity and robustness tests.Further analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency problems.This paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity structure.Additionally,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level.展开更多
BACKGROUND Gastric cancer is a malignant digestive tract tumor that originates from the epithelium of the gastric mucosa and occurs in the gastric antrum,particularly in the lower curvature of the stomach.AIM To evalu...BACKGROUND Gastric cancer is a malignant digestive tract tumor that originates from the epithelium of the gastric mucosa and occurs in the gastric antrum,particularly in the lower curvature of the stomach.AIM To evaluate the impact of a positive web-based psychological intervention on emotions,psychological capital,and quality of survival in gastric cancer patients on chemotherapy.METHODS From January 2020 to October 2023,121 cases of gastric cancer patients on chemotherapy admitted to our hospital were collected and divided into a control group(n=60)and an observation group(n=61)according to the admission order.They were given either conventional nursing care alone and conventional nursing care combined with web-based positive psychological interventions,respectively.The two groups were compared in terms of negative emotions,psychological capital,degree of cancer-caused fatigue,and quality of survival.RESULTS After intervention,the number of patients in the observation group who had negative feelings toward chemotherapy treatment was significantly lower than that of the control group(P<0.05);the Positive Psychological Capital Questionnaire score was considerably higher than that of the control group(P<0.05);the degree of cancer-caused fatigue was significantly lower than that of the control group(P<0.05);and the Quality of Life Scale for Cancer Patients(QLQ-30)score was significantly higher than that of the control group(P<0.05).CONCLUSION Implementing a web-based positive psychological intervention for gastric cancer chemotherapy patients can effectively improve negative emotions,enhance psychological capital,and improve the quality of survival.展开更多
As part of its efforts to promote a sustainable and high-quality development,China has pledged to reduce water consumption and create a water-efficient society.On the basis of identifying the institutional root causes...As part of its efforts to promote a sustainable and high-quality development,China has pledged to reduce water consumption and create a water-efficient society.On the basis of identifying the institutional root causes of excessive capital allocation and excessive water consumption in China’s water-intensive industrial sectors,this study elaborates how the national water-efficient cities assessment contributes to optimized capital allocation.Our research shows that national water-efficient cities assessment has motivated local governments to compete for water efficiency.To conserve water,local governments regulated the entry and exit of water-intensive enterprises,discouraged excessive investments in water-intensive sectors,and phased out obsolete water-intensive capacities within their jurisdictions.This approach has resulted in mutually beneficial outcomes,including improved allocation of capital,enhanced water efficiency,and reduced emissions.This paper offers policy recommendations for establishing a water-efficient society throughout the 14^(th) Five-Year Plan(2021-2025)period by presenting empirical evidence on the policy effects of resource efficiency evaluation.展开更多
Green development has gradually become the main theme of the current world economic development.Green transformation development and cracking the contradiction between ecology and economy need to build an effective ec...Green development has gradually become the main theme of the current world economic development.Green transformation development and cracking the contradiction between ecology and economy need to build an effective ecological capital operation system and mechanism to support,encourage the effective operation of regional ecological capital,promote the appreciation and preservation of ecological capital,and escort the operation.This paper constructs a four-in-one regional ecological capital operation mechanism system,in which the"accumulation mechanism"is the prerequisite,the"conversion mechanism"is the key link,the"compensation mechanism"is an important supplement,and the"incentive mechanism"is the safeguard measure,which aims to ensure the smooth progress of the construction of beautiful China in the new era and realize the socialist modern power.展开更多
The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academician...The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academicians have taken an interest in examining the capital structure and business model of retailers,owing to their swift and consistent growth.However,the fact that the majority of research originates from the retailers’host country gives rise to debate regarding the applicability of the capital structure of said retailers to countries with distinct cultural environments.Consequently,academics have begun to investigate whether the capital structure of multinational retailers is impacted by the diversity of national cultures.展开更多
As an important channel for start-ups to obtain R&D funds and external knowledge and information resources,and as one of the key methods for investment institutions to leverage scale and synergy effects to enhance...As an important channel for start-ups to obtain R&D funds and external knowledge and information resources,and as one of the key methods for investment institutions to leverage scale and synergy effects to enhance investment returns,venture capital syndication holds significant research value in the field of venture capital.This paper reviews the literature,summarizing the motivations behind the formation of joint investment networks,the conceptual characteristics of the three core theories of social network theory,and the empirical research on venture capital syndication within the framework of social network theory.It also highlights the existing research results,identifies gaps,and anticipates future research directions.展开更多
Introduction: Benin was embarked on phase 3 of the REDISSE Benin project (Regional Disease Surveillance Systems Enhancement) which began in 2018. The objectives were in five key components namely, Surveillance and hea...Introduction: Benin was embarked on phase 3 of the REDISSE Benin project (Regional Disease Surveillance Systems Enhancement) which began in 2018. The objectives were in five key components namely, Surveillance and health information;Laboratory capacity building;Emergency preparedness and response;Human resources management for effective disease surveillance and epidemic preparedness;and Institutional Capacity Building, Project Management, Coordination and Advocacy. After five years of implementation, this study aimed at the documentation of lessons learned and best practices. Methods: A descriptive cross-sectional study. Apart from individual semi-structured interviews, a thematic workshops bringing together the project’s main stakeholders recruited on an exhaustive way by component to identify and validate lessons learned, good practices and propose improvement mechanisms to be taken into account by the sector. Criteria were set up and used to validate best practices and lessons learned. Results: A total 54 (Surveillance workshop), 47 (Preparedness & response workshop), 53 (Human Resources workshop), 26 (Laboratories workshop) participated to the thematic workshops, and five interviews. The good practices (33: 9 for animal health, 7 for human health and 17 crosscutting) and lessons learned (10: 3 for animal health and 7 for human health) have been identified and have been the subject, depending on the case, of proposals for improvement or conditions necessary for their maintenance. Discussion: The richness of a project lies not only in the immediate achievement of its results, but also and above all, in its usefulness for similar interventions, whether in the local, regional, national or international context. It is in this context that the REDISSE project has set out to make public the various lessons learned and best practices from the implementation of its activities over a period of some five consecutive years.展开更多
Targeted poverty alleviation(TPA)serves as a winning formula for fighting poverty and has generated valuable experiences for achieving common prosperity.The mixed-ownership reform has enhanced corporate economic perfo...Targeted poverty alleviation(TPA)serves as a winning formula for fighting poverty and has generated valuable experiences for achieving common prosperity.The mixed-ownership reform has enhanced corporate economic performance.However,further testing is required to assess whether enterprises contribute to the improvement of distribution by participating in TPA.Taking A-share-listed private enterprises between 2016 and 2021 as research samples,we conducted an investigation into the extent and manner in which the mixed-ownership reform contributes to TPA.Our research reveals that a higher proportion of state capital equity participation is correlated with a greater level of private enterprises’contribution to TPA.This indicates that the mixed-ownership reform is beneficial for prompting private enterprises to shoulder responsibilities for building a society of common prosperity.As shown by the mechanism test,state capital equity participation encourages private enterprises to contribute to TPA primarily by alleviating corporate financing constraints through the resource complementarity effect.In contrast,the check&balance effect of promoting corporate poverty alleviation by mitigating the principal-agent problem has not yet been significantly demonstrated.Regarding the poverty alleviation model,state capital equity participation prompts private enterprises to contribute to TPA through industrial development,educational investment,and environmental protection,emphasizing a combination of providing external assistance and cultivating endogenous development capacity.In terms of TPA regions,state capital equity participation plays a significant role in supporting economically less-developed regions,regions with high unemployment rates,and central and western regions.This paper provides new empirical evidence for deepening mixed-ownership reforms and advancing common prosperity.展开更多
The high rates of depression,burnout,and increased risk of suicide among medical students,residents,and physicians in comparison with other careers signal a mental health crisis within our profession.We contend that t...The high rates of depression,burnout,and increased risk of suicide among medical students,residents,and physicians in comparison with other careers signal a mental health crisis within our profession.We contend that this crisis coupled with the inadequate acquisition of interpersonal skills during medical education results from the interaction between a challenging environment and the mental capital of individuals.Additionally,we posit that mindfulness-based practices are instrumental for the development of major components of mental capital,such as resilience,flexibility of mind,and learning skills,while also serving as a pathway to enhance empathy,compassion,self-awareness,conflict resolution,and relational abilities.Importantly,the evidence base supporting the effectiveness of mindfulness-based interventions has been increasing over the years,and a growing number of medical schools have already integrated mindfulness into their curricula.While we acknowledge that mindfulness is not a panacea for all educational and mental health problems in this field,we argue that there is currently an unprecedented opportunity to gather momentum,spread and study mindfulness-based programs in medical schools around the world as a way to address some longstanding shortcomings of the medical profession and the health and educational systems upon which it is rooted.展开更多
The rapid development of the digital economy has provided a new impetus for rural residents to extend their working hours.Based on the data collected by the China Labor-force Dynamics Survey(CLDS)in 2014,2016,and 2018...The rapid development of the digital economy has provided a new impetus for rural residents to extend their working hours.Based on the data collected by the China Labor-force Dynamics Survey(CLDS)in 2014,2016,and 2018,this paper measured the development level of the digital economy in China from the perspectives of internet development and digital financial inclusion,and tested the mechanisms of how the digital economy affected rural residents’working hours.The results showed that the digital economy extended rural residents’working hours by expanding information channels and enhancing human capital,and this mechanism was affected by heterogeneity in rural residents’educational background,age,and social capital.Building on these findings,this paper holds that to increase rural residents’income by extending their working hours and achieving common prosperity for all,it is necessary to expand the opportunities for rural residents to participate in skills training and promote their accumulation of human capital.展开更多
Using the adoption and expansion of wired telegraph in China during the late 19^(th) century,this paper investigates the effect of cost reductions for knowledge exchange on China’s industrial growth before the outbre...Using the adoption and expansion of wired telegraph in China during the late 19^(th) century,this paper investigates the effect of cost reductions for knowledge exchange on China’s industrial growth before the outbreak of the War of Resistance Against Japanese Aggression(1931-1945),thus testing Baldwin’s theory of“the Great Convergence”in which developing countries are empowered by information and communication technologies.Based on panel data of 1858-1937,we found that wired telegraph access had a significantly positive effect,as well as a long-term growth effect,on the entry of industrial enterprises.Our mechanism analysis indicates that wired telegraph access accelerated early-stage industrialization in localities by encouraging market integration,human capital accumulation,and auxiliary commercial organizations.Only a few countries firmly asserted their telegraph sovereignty and set up their own workforce educational system during telegraph adoption.This explains why the Great Convergence arising from technology importation only occurred in a small number of countries.Our findings contribute to understanding the source of China’s modern industrial progress,as well as why global inequities remain.展开更多
基金supported by the National Natural Science Foundation of China,“State-owned Capital Participation and Financial Behavior of Private Enterprises:A Study from the Perspective of‘Balance’and‘Complementarity’of Multiple Major Shareholders”(Grant No.72202230).
文摘This study takes debt financing as the entry point and explores the impact of state-owned capital participation in private enterprises from the perspectives of“unarticulated rules”and“articulated rules”.The study finds that state-owned capital participation significantly reduces the debt financing costs of private enterprises and expands the scale of their debt financing.This conclusion remains valid after a series of endogeneity and robustness tests.Further analysis of the mechanism reveals that state-owned capital participation improves the debt financing of private enterprises through multiple channels:Enhancing their social reputation,mitigating the“statistical bias”they face,optimizing their information quality,and reducing the“shareholder-creditor”agency problems.This paper conceptualizes these benefits as the“complementary advantages of heterogeneous shareholders”.This not only constructs a theoretical framework for“reverse mixed-ownership reform”but also better narrates the Chinese story of“mixed-ownership reform”by adopting a more universally applicable theory of equity structure.Additionally,the paper supplements existing research on the macro-and meso-level relationship between the government and the market by exploring the government’s positive role at the micro-level.
文摘BACKGROUND Gastric cancer is a malignant digestive tract tumor that originates from the epithelium of the gastric mucosa and occurs in the gastric antrum,particularly in the lower curvature of the stomach.AIM To evaluate the impact of a positive web-based psychological intervention on emotions,psychological capital,and quality of survival in gastric cancer patients on chemotherapy.METHODS From January 2020 to October 2023,121 cases of gastric cancer patients on chemotherapy admitted to our hospital were collected and divided into a control group(n=60)and an observation group(n=61)according to the admission order.They were given either conventional nursing care alone and conventional nursing care combined with web-based positive psychological interventions,respectively.The two groups were compared in terms of negative emotions,psychological capital,degree of cancer-caused fatigue,and quality of survival.RESULTS After intervention,the number of patients in the observation group who had negative feelings toward chemotherapy treatment was significantly lower than that of the control group(P<0.05);the Positive Psychological Capital Questionnaire score was considerably higher than that of the control group(P<0.05);the degree of cancer-caused fatigue was significantly lower than that of the control group(P<0.05);and the Quality of Life Scale for Cancer Patients(QLQ-30)score was significantly higher than that of the control group(P<0.05).CONCLUSION Implementing a web-based positive psychological intervention for gastric cancer chemotherapy patients can effectively improve negative emotions,enhance psychological capital,and improve the quality of survival.
基金Sponsorship of the Outstanding Youth Innovation Team Development Program for Institutes of Higher Learning in Shandong Province(2021RW008)the Youth Program of the Natural Science Foundation of Shandong Province(ZR2021QG048).
文摘As part of its efforts to promote a sustainable and high-quality development,China has pledged to reduce water consumption and create a water-efficient society.On the basis of identifying the institutional root causes of excessive capital allocation and excessive water consumption in China’s water-intensive industrial sectors,this study elaborates how the national water-efficient cities assessment contributes to optimized capital allocation.Our research shows that national water-efficient cities assessment has motivated local governments to compete for water efficiency.To conserve water,local governments regulated the entry and exit of water-intensive enterprises,discouraged excessive investments in water-intensive sectors,and phased out obsolete water-intensive capacities within their jurisdictions.This approach has resulted in mutually beneficial outcomes,including improved allocation of capital,enhanced water efficiency,and reduced emissions.This paper offers policy recommendations for establishing a water-efficient society throughout the 14^(th) Five-Year Plan(2021-2025)period by presenting empirical evidence on the policy effects of resource efficiency evaluation.
基金Supported by Hunan Provincial Social Science Fund Project(21YBX021)Hunan Provincial Natural Science Foundation Project(2024JJ7234).
文摘Green development has gradually become the main theme of the current world economic development.Green transformation development and cracking the contradiction between ecology and economy need to build an effective ecological capital operation system and mechanism to support,encourage the effective operation of regional ecological capital,promote the appreciation and preservation of ecological capital,and escort the operation.This paper constructs a four-in-one regional ecological capital operation mechanism system,in which the"accumulation mechanism"is the prerequisite,the"conversion mechanism"is the key link,the"compensation mechanism"is an important supplement,and the"incentive mechanism"is the safeguard measure,which aims to ensure the smooth progress of the construction of beautiful China in the new era and realize the socialist modern power.
文摘The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academicians have taken an interest in examining the capital structure and business model of retailers,owing to their swift and consistent growth.However,the fact that the majority of research originates from the retailers’host country gives rise to debate regarding the applicability of the capital structure of said retailers to countries with distinct cultural environments.Consequently,academics have begun to investigate whether the capital structure of multinational retailers is impacted by the diversity of national cultures.
基金Exploration and Practice of Training Model Based on the Whole Career Cycle of Enterprise Employees(Grant no.2023520500240155)。
文摘As an important channel for start-ups to obtain R&D funds and external knowledge and information resources,and as one of the key methods for investment institutions to leverage scale and synergy effects to enhance investment returns,venture capital syndication holds significant research value in the field of venture capital.This paper reviews the literature,summarizing the motivations behind the formation of joint investment networks,the conceptual characteristics of the three core theories of social network theory,and the empirical research on venture capital syndication within the framework of social network theory.It also highlights the existing research results,identifies gaps,and anticipates future research directions.
文摘Introduction: Benin was embarked on phase 3 of the REDISSE Benin project (Regional Disease Surveillance Systems Enhancement) which began in 2018. The objectives were in five key components namely, Surveillance and health information;Laboratory capacity building;Emergency preparedness and response;Human resources management for effective disease surveillance and epidemic preparedness;and Institutional Capacity Building, Project Management, Coordination and Advocacy. After five years of implementation, this study aimed at the documentation of lessons learned and best practices. Methods: A descriptive cross-sectional study. Apart from individual semi-structured interviews, a thematic workshops bringing together the project’s main stakeholders recruited on an exhaustive way by component to identify and validate lessons learned, good practices and propose improvement mechanisms to be taken into account by the sector. Criteria were set up and used to validate best practices and lessons learned. Results: A total 54 (Surveillance workshop), 47 (Preparedness & response workshop), 53 (Human Resources workshop), 26 (Laboratories workshop) participated to the thematic workshops, and five interviews. The good practices (33: 9 for animal health, 7 for human health and 17 crosscutting) and lessons learned (10: 3 for animal health and 7 for human health) have been identified and have been the subject, depending on the case, of proposals for improvement or conditions necessary for their maintenance. Discussion: The richness of a project lies not only in the immediate achievement of its results, but also and above all, in its usefulness for similar interventions, whether in the local, regional, national or international context. It is in this context that the REDISSE project has set out to make public the various lessons learned and best practices from the implementation of its activities over a period of some five consecutive years.
基金the National Social Science Fund of China(NSSFC),“Study on the Policy Effect Evaluation and Optimization of Dual-Pillar Regulation under Triple Pressures”(Grant No.22&ZD063)General Project of the National Natural Science Foundation of China(NSFC),“Financial Fundamentals Information and Financial Risk Forecast:Machine Learning and Economic Theories”(Grant No.72072193)General Project of the National Natural Science Foundation of China(NSFC),“Investment Q Theory,Investor Sentiment and Capital Market Asset Pricing:A Big Data Perspective”(Grant No.71872195).
文摘Targeted poverty alleviation(TPA)serves as a winning formula for fighting poverty and has generated valuable experiences for achieving common prosperity.The mixed-ownership reform has enhanced corporate economic performance.However,further testing is required to assess whether enterprises contribute to the improvement of distribution by participating in TPA.Taking A-share-listed private enterprises between 2016 and 2021 as research samples,we conducted an investigation into the extent and manner in which the mixed-ownership reform contributes to TPA.Our research reveals that a higher proportion of state capital equity participation is correlated with a greater level of private enterprises’contribution to TPA.This indicates that the mixed-ownership reform is beneficial for prompting private enterprises to shoulder responsibilities for building a society of common prosperity.As shown by the mechanism test,state capital equity participation encourages private enterprises to contribute to TPA primarily by alleviating corporate financing constraints through the resource complementarity effect.In contrast,the check&balance effect of promoting corporate poverty alleviation by mitigating the principal-agent problem has not yet been significantly demonstrated.Regarding the poverty alleviation model,state capital equity participation prompts private enterprises to contribute to TPA through industrial development,educational investment,and environmental protection,emphasizing a combination of providing external assistance and cultivating endogenous development capacity.In terms of TPA regions,state capital equity participation plays a significant role in supporting economically less-developed regions,regions with high unemployment rates,and central and western regions.This paper provides new empirical evidence for deepening mixed-ownership reforms and advancing common prosperity.
基金Supported by the Brazilian National Council for Scientific and Technological Development(CNPq),No.312499/2022-1São Paulo Research Foundation(FAPESP),No.2023/00823-9,and No.2023/01251-9.
文摘The high rates of depression,burnout,and increased risk of suicide among medical students,residents,and physicians in comparison with other careers signal a mental health crisis within our profession.We contend that this crisis coupled with the inadequate acquisition of interpersonal skills during medical education results from the interaction between a challenging environment and the mental capital of individuals.Additionally,we posit that mindfulness-based practices are instrumental for the development of major components of mental capital,such as resilience,flexibility of mind,and learning skills,while also serving as a pathway to enhance empathy,compassion,self-awareness,conflict resolution,and relational abilities.Importantly,the evidence base supporting the effectiveness of mindfulness-based interventions has been increasing over the years,and a growing number of medical schools have already integrated mindfulness into their curricula.While we acknowledge that mindfulness is not a panacea for all educational and mental health problems in this field,we argue that there is currently an unprecedented opportunity to gather momentum,spread and study mindfulness-based programs in medical schools around the world as a way to address some longstanding shortcomings of the medical profession and the health and educational systems upon which it is rooted.
基金This paper is part of the Youth Program of Science and Technology Research of Chongqing Municipal Education Commission(KJQN202300545)Youth Program of National Social Science Fund of China(21CJY001)Science and Technology Research Program of Chongqing Municipal Education Commission(KJQN202300567).
文摘The rapid development of the digital economy has provided a new impetus for rural residents to extend their working hours.Based on the data collected by the China Labor-force Dynamics Survey(CLDS)in 2014,2016,and 2018,this paper measured the development level of the digital economy in China from the perspectives of internet development and digital financial inclusion,and tested the mechanisms of how the digital economy affected rural residents’working hours.The results showed that the digital economy extended rural residents’working hours by expanding information channels and enhancing human capital,and this mechanism was affected by heterogeneity in rural residents’educational background,age,and social capital.Building on these findings,this paper holds that to increase rural residents’income by extending their working hours and achieving common prosperity for all,it is necessary to expand the opportunities for rural residents to participate in skills training and promote their accumulation of human capital.
基金supported by the General Project of the National Social Science Fund of China(Grant No.NSSFC)“Research on the Changes of Modern East Asian Order”(Grant No.18BSS028).
文摘Using the adoption and expansion of wired telegraph in China during the late 19^(th) century,this paper investigates the effect of cost reductions for knowledge exchange on China’s industrial growth before the outbreak of the War of Resistance Against Japanese Aggression(1931-1945),thus testing Baldwin’s theory of“the Great Convergence”in which developing countries are empowered by information and communication technologies.Based on panel data of 1858-1937,we found that wired telegraph access had a significantly positive effect,as well as a long-term growth effect,on the entry of industrial enterprises.Our mechanism analysis indicates that wired telegraph access accelerated early-stage industrialization in localities by encouraging market integration,human capital accumulation,and auxiliary commercial organizations.Only a few countries firmly asserted their telegraph sovereignty and set up their own workforce educational system during telegraph adoption.This explains why the Great Convergence arising from technology importation only occurred in a small number of countries.Our findings contribute to understanding the source of China’s modern industrial progress,as well as why global inequities remain.
