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Can whole steps of grain production be outsourced? Empirical analysis based on the three provinces of Jiangsu,Jilin,and Sichuan in China

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Journal of Integrative Agriculture 2024年第1期23卷 336-347页

作者： Jiacheng Liu Shengzhi Mao Qiufen Zheng Zhigang Xu School of finance and Taxation Nanjing University of Finance and EconomicsJiangsu 210023China School of Economics Southwestern University of Finance and EconomicsSichuan 611130China School of Economics and Management Nanjing Agricultural UniversityJiangsu 210095China

Certain outsourcing services for agricultural management in China,such as pest control in grain production,have experienced prolonged sluggishness,contrasting with the relatively high level of outsourcing services observed in harvesting,land preparation,and *** study examines the feasibility of implementing whole-step outsourcing in grain production by conducting a case study of rice and maize production in Jiangsu,Jilin,and Sichuan provinces in *** provision of outsourcing services hinges on two essential conditions:technological advancements fostering specialized production and economies of scale,coupled with a market size sufficient to realize the aforementioned potential economies of *** results showed that outsourcing pest control or harvesting services had varying economies of *** outsourcing services in pest control were less common than in harvesting services,and their marginal growth space of the economies of scale with technological change was also *** by the operational characteristics of pest control itself,the market scale of its professional services is ***,achieving the whole-step outsourcing of grain production necessitates not only technological innovation but also effective policy interventions to overcome the constraints of market *** interventions include(1)optimizing crop layouts between planning regions and reducing land fragmentation and(2)supplying timely and effective inter-regional agricultural information for service providers aided by information technology.

关键词： outsourcing services economy of scale technical conditions market scale

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On the Pathwise Uniqueness of Solutions of One-dimensional Reflected Stochastic Differential Equations with Jumps

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Acta Mathematicae Applicatae Sinica 2024年第1期40卷 149-163页

作者： Hua Zhang School of Statistics and Data Science&Key Laboratory of Data Science in finance and Economics Jiangxi University of Finance and EconomicsNanchang330013China

In this paper, we are concerned with the problem of the pathwise uniqueness of one-dimensional reflected stochastic differential equations with jumps under the assumption of non-Lipschitz continuous coefficients whose... 详细信息

关键词： reflected diffusion processes with jumps pathwise uniqueness local time Meyer It?'s formula

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Sliced Average Variance Estimation for Tensor Data

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Acta Mathematicae Applicatae Sinica 2024年第3期40卷 630-655页

作者： Chuan-quan LI Pei-wen XIAO Chao YING Xiao-hui LIU School of Statistics Jiangxi University of Finance and EconomicsNanchang 330013China Key Laboratory of Data Science in finance and Economics Jiangxi University of Finance and EconomicsNanchang 330013China Biostatistics and Medical Informatics University of Wisconsin MadisonMadison 53726USA

Tensor data have been widely used in many fields,e.g.,modern biomedical imaging,chemometrics,and economics,but often suffer from some common issues as in high dimensional *** to find their low-dimensional latent structure has been of great interest for *** this end,we develop two efficient tensor sufficient dimension reduction methods based on the sliced average variance estimation(SAVE)to estimate the corresponding dimension reduction *** first one,entitled tensor sliced average variance estimation(TSAVE),works well when the response is discrete or takes finite values,but is not■consistent for continuous response;the second one,named bias-correction tensor sliced average variance estimation(CTSAVE),is a de-biased version of the TSAVE *** asymptotic properties of both methods are derived under mild *** and real data examples are also provided to show the superiority of the efficiency of the developed methods.

关键词： tensor data sliced average variance estimation sufficient dimension reduction central subspace

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A Tale of Two“Skewness”:Managerial Epidemic Experience,Probability Weighting and Financial Market Stability

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Social Sciences in China 2024年第1期45卷 157-181页

作者： Gu Leilei Ni Xiaoran Peng Yuchao Business School Central University of Finance and Economics School of Economics Xiamen University School of finance and Belt&Road finance Institute Central University of Finance and Economics

Under probability weighting,entrepreneurs with skewness preference tend to seek rightskewed and avoid left-skewed *** show that Chinese firms managed by CEOs with professional epidemic experience,i.e.,who previously experienced the outbreak of SARS during their tenure as high level executives,have a lower stock price crash risk measured by the negative skewness of stock prices in subsequent *** particular,those firms intentionally avoid stock price crashes by adopting more conservative strategies in ***,we provide the first evidence on the unintended effect of entrepreneurs'subjective judgments of the probabilities of disease outbreaks on financial market *** have long-term implications for the financial system.

关键词： SARS epidemic experience probability weighting skewness preference stock price crash risk

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Exploring the impacts of major events on the systemic risk of the international energy market

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Petroleum Science 2024年第2期21卷 1444-1457页

作者： Ming-Tao Zhao Su-Wan Lu Lian-Biao Cui School of Statistics and Applied Mathematics Anhui University of Finance and EconomicsBengbu233030AnhuiChina Anhui Province Key Laboratory of Philosophy and Social Science of Low-Carbon Development and Carbon finance Anhui University of Finance and EconomicsBengbu233030AnhuiChina

This study examines the systemic risk caused by major events in the international energy market(IEM)and proposes a management strategy to mitigate it. Using the tail-event driven network(TENET)method, this study constructed a tail-risk spillover network(TRSN) of IEM and simulated the dynamic spillover tail-risk process through the cascading failure mechanism. The study found that renewable energy markets contributed more to systemic risk during the Paris Agreement and the COVID-19pandemic, while fossil energy markets played a larger role during the Russia-Ukraine conflict. This study identifies systemically important markets(SM) and critical tail-risk spillover paths as potential sources of systemic risk. The research confirms that cutting off the IEM risk spillover path can greatly reduce systemic risk and the influence of SM. This study offers insights into the management of systemic risk in IEM and provides policy recommendations to reduce the impact of shock events.

关键词： International energy market Tail-risk spillover Cascading failure mechanism Systemic risk management

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Optimal Timing of Business Conversion for Solvency Improvement

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Acta Mathematicae Applicatae Sinica 2024年第3期40卷 744-757页

作者： Peng LI Ming ZHOU School of finance Nanjing University of Finance and EconomicsNanjing 210023China Center for Applied Statistics and School of Statistics Renmin University of ChinaBeijing 100872China

In this paper,we study the optimal timing to convert the risk of business for an insurance company in order to improve its *** cash flow of company evolves according to a jump-diffusion *** conversion option offers the company an opportunity to transfer the jump risk business *** exchange for this option,the company needs to pay both fixed and proportional transaction *** proportional cost can also be seen as the profit loading of the jump risk *** formulated this problem as an optimal stopping *** solving this stopping problem,we find that the optimal timing of business conversion mainly depends on the profit loading of the jump risk business.A larger profit loading would make the conversion option *** fixed cost,however,only delays the optimal timing of business *** the end,numerical results are provided to illustrate the impacts of transaction costs and environmental parameters to the optimal strategies.

关键词： optimal stopping jump-diffusion process conversion option

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Industrial Carbon Emission Distribution and Regional Joint Emission Reduction:A Case Study of Cities in the Pearl River Basin,China

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Chinese Geographical Science 2024年第2期34卷 210-229页

作者： JIANG Hongtao YIN Jian ZHANG Bin WEI Danqi LUO Xinyuan DING Yi XIA Ruici Center for Western China Modernization Guizhou University of Finance and EconomicsGuiyang 550025China College of Big Data Application and Economic Guizhou University of Finance and EconomicsGuiyang 550025China Key Laboratory of Green Fintech Guizhou University of Finance and EconomicsGuiyang 550025China

China’s low-carbon development path will make significant contributions to achieving global sustainable development *** to the diverse natural and economic conditions across different regions in China,there exists an imbalance in the distribution of car-bon ***,regional cooperation serves as an effective means to attain low-carbon *** study examined the pattern of carbon emissions and proposed a potential joint emission reduction strategy by utilizing the industrial carbon emission intens-ity(ICEI)as a crucial *** utilized social network analysis and Local Indicators of Spatial Association(LISA)space-time trans-ition matrix to investigate the spatiotemporal connections and discrepancies of ICEI in the cities of the Pearl River Basin(PRB),China from 2010 to *** primary drivers of the ICEI were determined through geographical detectors and multi-scale geographically weighted *** results were as follows:1)the overall ICEI in the Pearl River Basin is showing a downward trend,and there is a significant spatial imbalance.2)There are numerous network connections between cities regarding the ICEI,but the network structure is relatively fragile and unstable.3)Economically developed cities such as Guangzhou,Foshan,and Dongguan are in the center of the network while playing an intermediary role.4)Energy consumption,industrialization,per capita GDP,urbanization,science and techno-logy,and productivity are found to be the most influential variables in the spatial differentiation of ICEI,and their combination in-creased the explanatory power of the geographic variation of ***,through the analysis of differences and connections in urban carbon emissions under different economic levels and ICEI,the study suggests joint carbon reduction strategies,which are centered on carbon transfer,financial support,and technological assistance among cities.

关键词： industrial carbon emission intensity carbon emission social network analysis Location Indicators of Spatial Association(LISA) geographical detector multi-scale geographically weighted regression Pearl River Basin(PRB),China

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Interregional Value-Added Tax in the Era of E-Commerce: Tax Policy Design Based on Big Data from Online Retailing

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Journal of Social Computing 2024年第1期5卷 46-57页

作者： Yu Chen Luwei Xiang Hu Yang School of Public finance and Taxation Central University of Finance and EconomicsBeijing 100008China School of Management and Economics The Chinese University of Hong KongShenzhen 518172China School of Information Central University of Finance and EconomicsBeijing 100008China

The value-added tax(VAT)in China is levied and allocated based on the origin *** the background of the increasing substitution of online retail for traditional offline retail,this mechanism will exacerbate the disparity of regional tax revenue,and intensify tax competition among local ***,reconsidering the allocation mechanism of value-added tax in China can be an important policy decision,and it is influenced by various economic and social ***,we utilize large-scale retail transaction data from an e-commerce platform to measure regional disparities in retail and consumption among different regions and then reveals present tax policy results in revenue imbalance in different ***,we establish a model based on game theory to illustrate how the origin principle leads to fierce tax competition among ***,by establishing and solving tax allocation models between local governments and the central government,this study simulates and calculates the degree of revenue imbalance under different scenarios and attempts to propose policy *** results indicate that implementing the destination principle will reduce regional tax ***,adjusting the allocation ratio between the central government and local governments based on city levels is advantageous for further reducing regional tax revenue disparities.

关键词： value-added tax e-commerce destination principle origin principle

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A Global Optimality Principle for Fully Coupled Mean-field Control Systems

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Acta Mathematicae Applicatae Sinica 2024年第2期40卷 379-413页

作者： Tao HAO School of Statistics and Mathematics Shandong University of Finance and EconomicsJinan 250014China

This paper concerns a global optimality principle for fully coupled mean-field control *** the first-order and the second-order variational equations are fully coupled mean-field linear FBSDEs. A new linear relation is introduced, with which we successfully decouple the fully coupled first-order variational equations. We give a new second-order expansion of Y^(ε) that can work well in mean-field framework. Based on this result, the stochastic maximum principle is proved. The comparison with the stochastic maximum principle for controlled mean-field stochastic differential equations is supplied.

关键词： optimal control global maximum principle fully coupled general mean-field FBSDE adjoint equation recursive utility

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Exploring innovative techniques for damage control during natural disasters

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Journal of Safety Science and Resilience 2024年第2期5卷 147-155页

作者： Moinak Maiti Parthajit Kayal Departnent of finance School of Economics and FinanceUniversity of the WitwatersrandJohannesburgSouth Africa Madras School of Economics(MSE) Gandhi Mandapam RoadBehind Govermment Data CentreKotturChennai 600025India

The study critically examines the principles,mechanisms,and effectiveness of different damage control tech-niques in dealing with natural disasters,emphasizing their pivotal role in minimizing casualties and economic *** of these damage control techniques is mapped based on their applications and relevance in the key areas of natural disaster *** utilizing various real-world instances,the present study shows that the effective implementation of various innovative techniques is shaping the space of natural disaster management in a global *** integration of different innovative techniques into the existing natural disaster management system has improved the survival rate,economic performance,and sustainable *** study finds that innovative disaster financing models,clear strategies,and creating awareness among communities can improve the overall efficiency of innovative techniques that are currently used for damage control during natural disaster *** the substantial advantages of these creative strategies,the study acknowledges challenges such as financial constraints,unclear policy goals,and community adaptation *** study also indicates that in the future,automatic damage restoration,quick prototyping,and additive engineering will play a vital role in controlling damage from catastrophic events,while it acknowledges limitations in temporal scope,generaliz-ability,andfinancial constraints.

关键词： GIS 3D printing technology Self-healingmaterials Digital twin models Disasters financing

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