林 平 李嫣怡
National Security Review of Foreign Acquisitions of Domestic Firms: Concepts, International Experiences and Implications for China
Lin Ping Li Yanyi
Abstract: We summarize the main viewpoints in recent debates on national security review of foreign acquisitions of domestic firms in China. We then review the national security schemes in the US, UK, France, as well as the recent developments in Russia and India. We provide a diagrammatic presentation of the relationships among the concepts of national defense security, economic security and industrial security. National security review covers defense security and economic security, but not the entirety of industrial security. The criterion for national security review is whether a transaction harms or may potentially harm national security; rather than whether it undermines the market power of domestic firms or harms competition. National security review would become a tool of industrial policy, should the boundary of economic security (i.e., the list of key industries) be set too broadly. Antitrust, national security review and industrial policy pertain to different public policy areas with distinct objectives. They should operate separately, instead of trying to support each other by design.
Keywords:FDI M&A, National Security, Industrial Policy
JEL Classification：F21 F52 L16 L52
关键词：监事会 公司治理 独立董事 监事会治理
Research Vein and Progress of Supervisory Board Governance Theory
Wang Shiquan Li Weian
Abstract: This article, referring to the present theoretical study on supervisory board governance, based on the exploration into the origination of the supervisory governance issue, cards and reviews the relative literature from such five aspects of this research content emphases in different periods, as “Researches on the aim and function position of supervisory board ”,”Influencing elements and intensifying means of supervisory board governance”, “ The study on necessity of supervisory board governance’, “Researches on the evaluation of supervisory board”, and “The study on the relationships between supervisory board and independent directors” . And the research results shows, the theoretical exploration of supervisory board seems to be much weaker in contrast with other dimensions of corporate governance, without matching the urgent requirements of practices; there hasn’t formed theoretical system with general guiding significance, but needs theoretical breakthroughs in the nature and function mechanism of supervisory board. Based on this, it sums up the four tendencies of supervisory board governance theory research, and finally puts forward the theoretical problems to be resolved in recent years.
Keywords:Supervisory Board；Corporate Governance ；Independent Director；Supervisory Board Governance
JEL Classification: M140, N01, M10
The Efficiency and Output Effect of SOEs and Economic Growth:
An Analytic Framework and Empirical Studies Based on China’s Provincial Data
Huang Xianfeng Li Ping
Abstract: In the process of economic transformation, state-owned enterprises (SOEs) of China play the role of preventing from large scale of unemployment and maintaining social stability which is necessary for the development of other sectors. Using a simple two-sector production function framework, this paper tries to isolate the contributions of SOEs’ efficiency and their output effects to economic growth. We find that, the efficiency of SOEs is lower than that of other sectors, however, SOEs also have significant output effects to other sectors, and the contributions of those two factors to economic growth are nearly offset each other. Therefore, the contribution of SOEs to the economic growth during our sample periods is not significantly different from that of other sectors.
Keywords: State-Owned Enterprises, Output Effect, Economic Growt
JEL Classification: O47, O53, P31
关键词： 特许经营权 拍卖 双重/第二货源
The development of the dual/second sourcing theory in franchise
Feng Zhongyue Li Lanbo
Abstract: This Article expatiates on the incentive issue on the regulation in natural monopoly industry. We start with split auction and multi-term regulation, especially emphasis on the dual sourcing or second sourcing theory in behalf of Laffon and Tirole, and then summarize the form, evolvement and development of the dual sourcing or second sourcing theory in franchise（procurement）.
Keywords:franchise, auction, dual/second sourcing
JEL Classfication: L51, D44, D86
关键词：产业关系 劳动关系 美国
A Survey of U.S. Labor Relations
Luo Rundong Xu Ping
Abstract: Industrial relations are relations of production in working directly with the owner of the relevant factors and it is inevitable in market economy. The authors focus on review of industrial relations of the United States, which is an important component of labor relations research. We find that the U.S. labor relations research showed a great change in the past century. The prosperity of the reasons attributed to the early 20th century when the American labor movement flourished in the background, research in the field of industrial relations focused on the core labor relations issues. Contemporary American labor relations show changes in the external environment and labor relations act for the main response to environmental changes, and between the two changes labor relations in the United States nearly come to stop.
Keywords: Industrial Relations; Labor Relations; United States
JEL Classsification：J53, J59
The theory of non-continuous transition of production system: a survey and research on China’s agricultural production
Abstract: The essence of the increase of economy is the increase of every factor’s marginal return which is put into production. So is the agricultural production. The increase of agricultural economy may be realized only by reforming the agricultural production system and changing every factor’s profit function in the agricultural production. However, the changes of the production system are obviously not continuous. And how to realize the reform of the production system becomes the key of the increase of agricultural economy. The paper is based on the microeconomic basic theory. It introduces the production factors of the transaction cost and put them into different categories. Hence the paper infers the mathematical basis of the production system’s choice, development and mutation mechanism. Moreover, the paper applied it in china’s agricultural investigation, study and analysis.
Keywords:production system; non-continuous transition; mutation mechanism
JEL Classification: D23; O13; Q15
关键词：服务业国际转移 路径分析 经济效应
The Economic Effect Analysis of International Transfer of Service Industry: A Test with China's Data
Liu Qinglin Lian Kai
Abstract: The international transfer of service industry promotes the growth of the total national economy by trade effect, capital effect, employment effect and technology effect, and improves the quality of national economic operation through four paths of labor quality, industrial structure, industrial clustering and labor productivity of service industry. Based on the which, this paper constructs the analytical framework of the economic effects of international transfer of service industry. This paper analyzes the effects of international transfer of services on China’s total national economy by Granger causality test and path analysis method and finds that the international transfer of services promots China's total economic growth through paths of trade, employment, technology and so on. Besides, this paper measures the effects of international transfer of services on China’s economic operation quality and the results show that the nternational transfer of services effectively promote the improvement of the quality of national economic operation by three paths of labor quality, industrial clustering and labor productivity of services, and there exists a decreasing trend of economic effects among east, central and western region.
Keywords:International transfer service; Path Analysis; Economic effects
JEL Classification: L80 F20 E20
The Theory and Practice of Combinatorial Auction: A Survey
Abstract Combinatorial auction can make bidders flexibly reveal their preferences on the substitutable or complementary relationships of items, which can decline the bidding risk, increase auctioneer’ revenue and thus improves the economic efficiency of auction remarkably. The main topics concerned in combinatorial auctions are: bidding languages, winner determination and mechanism design. This paper focuses on the survey of the above three topics. The developments of internet and computer technology have provided a wonderful applicable platform for combinatorial auction. Combinatorial auction has been applied in wide economic domains successfully, including frequency spectrum auction, B2B, transportation services, airport time slots, etc. The noteworthiness is that there exists disharmony between academic research and practical applications on combinatorial auction. The status quo of stripe-and-block partition in this research is prominent, experts from different disciplines always undertake the related research on their own domain, i.e. the current research on combinatorial auction haven’t form a completely systematic system. However, the applications of combinatorial auction are so extensive. If we want to put it into action successfully, we need a dedicated guidance of this theory in the first place. By the reason of this incoordination between theory and practice, we have lots of work to do in this existing theory.
JEL Classification: D44, L81, C61
关键词：消费行为 演变 跨期选择
The Analysis on Intertemporal Consumption Behavior of China’s Urban Residents
Abstract: On the basis of rising income in China’s transition economy, this paper analysis urban residents’ consumption from the consumption level. Then, standing on the urban residents’ income and consumption, this paper found that intertemporal choice is a clear characteristics of China’s urban residents. Furthermore, urban residents’ current consumption is the total results of the last four years’ income.
Keywords: Consumption Behavior; Evolution; Intertemporal Choice
JEL Classification: D12; O12
One Study on the Behavior of Rural residents’ Demand Upgradein Transitional China: Based on the Comparison between Urban and Rural on Traffic and Communication’s Expenditure
Abstract: Consumption demand of traffic and communication is an important aspect of Consumption Upgrade. Using basal data, we examine the states of the city and the countryside separately, compare their distinctions, thus find growth characteristic of various stages of consumption expenditure in traffic and communication; In the general analysis on the changes of traffic and communication’s expenditure opposite to the time and total consumption expenditure, we discover and prove overflow influence of the city’s consumption demand upgrade imposed on countryside and the characteristic of the countryside chasing the city. Under the context of overall economic development, the Interaction of rural and urban residents in consumption upgrading can provide policy guidance and recommendations for the promotion of rural consumption as well as the total consumption.
Keywords: Transition Period; Consumption Upgrade; Traffic and Communication; Urban and Rural
JEL Classification: D10，O18，R20
关键词：食品消费支出 消费惯性 制度变迁
Analysis of Rural and Urban Residents Food Expenditure in Transitional China
Abstract:During the transform period, the rural and urban residents' food consumption expenditure increased more than 200% in our country, but increase speed difference hugely. The urban residents' food's consumption expenditure is inertial, influenced by the controllable income and system reform, the rural residents' food consumes expenditure is mainly subjected to pure income and price.
Keywords:food consumption expenditure inertial consumption system change
JEL Classification：C14 D12 J11 L66