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Can the improvement of competitive adequacy and fairness reduce discriminatory M&A behavior?Evidence from the market access negative list pilot in China

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China Journal of Accounting Research 2024年第1期17卷 96-131页

作者： Xiongyuan Wang Jing Xu Shuai Wang school of Accounting Zhongnan University of Economics and LawWuhanChina Institute of Ecological Civilization School of EconomicsZhongnan University of Economics and LawWuhanChina Huawei Technology Co.Ltd ShenzhenChina

Corporate mergers and acquisitions(M&As)are subject to skewed logic due to excessive government *** is progressively adopting the Market Access Negative List(MANL)pilot to transfer the power of resource allocation from the government to the *** the DID method,we examine the impact of relaxing market access regulation on firms’M&A behavior against China’s institutional background and the M&A events of listed companies from 2012 to *** MANL significantly increases firms’M&A tendency and amount and strengthens the competitive adequacy and fairness of market-oriented M&A ***-M&A financial performance does not increase,but human capital productivity,innovation effectiveness and total factor productivity do,demonstrating the dynamic balance of profit and efficiency in M&As.

关键词： Transition economies Market access deregulation Market access negative list Mergers and acquisitions

Downstream Competition and Upstream Innovation:Theory and Evidence from China

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China Finance and Economic Review 2024年第1期13卷 67-87页

作者： Jing Dai Guanchun Liu Ziqi Ye Haiou Mao Yongwei Ye school of Finance Hubei University of Economics Lingnan College Sun Yatsen University school of Business Administration Zhongnan University of Economics and Law College of economics and Management Huazhong Agricultural University school of Public economics and Management Shanghai University of Finance and Economics

Competition is the catalyst of corporate innovation,which is the foundation of a country's core *** the view of vertical industrial chain,this paper examines how downstream competition affects upstream firms'innovation *** innovation helps reduce the production cost of each product,increasing demand of intermediate products caused by downstream competition enhances the marginal revenue of upstream firms'innovation,thus leading to an innovation incentive *** identify causality,we utilize China's WTO accession,a quasinatural experiment,to calculate downstream competition combined with import tariff reduction and input-output table,and then run a difference-in-difference *** the data of Annual Survey of Industrial Firms and State Intellectual Property Office,our results find that downstream competition has a significantly positive impact on upstream firms'innovation,and this effect is more pronounced in firms with less industry competition,greater initial innovation capacity and weaker financial ***,the number of firms,the degree of industry competition and the scale of intermediate products in the downstream sector increase,confirming the market size *** sum,our findings document that downstream competition can motivate upstream firms to innovate through vertical industrial chain,providing some useful insights for China to build a fair market competition environment and promote innovation-driven growth regime.

关键词： downstream competition upstream firms'innovation vertical industrial chain market size effect

Manufacturer encroachment and carbon reduction decisions considering cap-and-trade policy and retailer investment

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Frontiers of Engineering Management 2024年第2期11卷 326-344页

作者： Pengpeng YUAN Jiasen SUN Dmitry IVANOV Business school and Dongwu Think Tank Soochow UniversitySuzhou 235031China Berlin school of economics and law Berlin 999035Germany

Low-carbon regulation and market competition present new opportunities and challenges for supply chain firms,emphasizing the significance of carbon reduction and channel encroachment in enhancing *** study formulates various game models to evaluate manufacturers’encroachment strategies(with or without encroachment)under different conditions of low-carbon investment by *** investigates the operational decisions and carbon abatement strategies of firms under various *** findings reveal that encroachment elevates unit abatement levels but decreases wholesale prices and retailer profits when unit encroachment costs are below certain *** contrast,the manufacturer consistently benefits from channel ***-initiated low-carbon investments can motivate manufacturers to reduce emissions.A lower carbon price potentially offers financial advantages to retailer engaging in such ***,the likelihood of reduced environmental damage postchannel encroachment,compared to preprofessional encroachment,increases when the retailer invests in low-carbon *** retailer’s profit is inversely related to the carbon price,and a higher carbon price can strengthen the incentive effect of low-carbon investment on the manufacturer’s abatement endeavors.

关键词： carbon cap-and-trade channel encroachment emission reduction low-carbon investment

Weighted Composition Operators That Preserve Frames On Weighted Hardy Spaces

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Acta Mathematica Sinica,English Series 2024年第7期40卷 1645-1654页

作者： Ya Li Dong Rui Liu Guo Xiang Lu school of Mathematical Sciences and LPMC Nankai UniversityTianjin300071P.R.China school of Statistics and Mathematics Zhongnan University of Economics and LawWuhan430073P.R.China

In this paper, we characterize weighted composition operators that preserve frames on the weighted Hardy spaces in the unit disk. In particular, we obtain the symbol properties of the bounded invertible weighted composition operators. Moreover, we establish the equivalence between bounded invertible operators and frame-preserving operators. Furthermore, we show that weighted composition operator preserves frames if and only if it preserves the Riesz bases property. Additionally,we investigate the weighted composition operators that preserve tight or normalized tight frames on the Dirichlet space.

关键词： Weighted composition operators Weighted Hardy spaces frames invertible

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信用规制轻微违法的中国路径及其优化（英文）

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China Legal Science 2024年第05期 106-131页

作者：邓豪 law school of Zhongnan University of economics and law

Minor violations are scattered across various sectors of production and daily life, and they are embedded in grassroots communities. Despite their minor nature, due to their prevalence and broad impact, these violations are accompanied by risks, posing challenges to conventional government regulatory mechanisms. This governance dilemma is encountered in countries worldwide. China has successfully introduced credit mechanisms to regulate minor violations, achieve significant effectiveness and serve as a valuable reference for other nations.

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Improving the law Teaching System Review of Foreign-Related Arbitration in China: From the Perspective of the Amendment to the Arbitration law

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Frontiers of law in China-Selected Publications from Chinese Universities 2024年第2期19卷 150-163页

作者： CHEN Baifeng law school Zhongnan University of Economics and LawWuhan 430073China school of State Governance Zhongnan University of Economics and LawWuhan 430073China

To cultivate high-quality rule-of-law talents, XI Jinping Thought on the Rule of law must be fully carried out, the spirit of the Opinions on Strengthening law Education and law Theory Research in the New Era must be implemented, the law teaching system must be improved, and the paths of talent cultivation must be optimized. The first is improving the ideological and political education and legal professional ethics education, teaching the ideological and political courses and legal professional ethics courses well in line with the essence of “bringing out the facts and reasons,” and doing an excellent job in ideological and political theory teaching in all courses from the perspective of all persons, the whole process, and all-around education. The second is improving the multi-level law education and teaching system and quality certification system, supporting and developing legal vocational education, consolidating undergraduate law education, boosting graduate law education, and developing professional degree education in law. The third is improving the curriculum system for law majors, accelerating the construction of courses reflecting the achievements in the practice of state governance and administration in the new era, such as the science of intra-Party regulations, the science of oversight law, and social governance jurisprudence, and so on, exploring the availability of the characteristic new course “science of field law,” and setting up diversified major-oriented modules to accommodate a large number of new courses. The fourth is improving the practical teaching and cooperative education system, adapting to the new form and requirement of “internet + education” to innovate education and teaching methods and means, strengthening the cooperation between law schools and rule-of-law work departments and legal service providers, enhancing education through work practice, and improving the in-service education system for rule-of-law talents.

关键词： law teaching system rule-of-law talents cooperative education Arbitration law amendment

Adjustment and Reorganization of the Diversified Dispute Resolution from the Perspective of State Governance

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Frontiers of law in China-Selected Publications from Chinese Universities 2024年第1期19卷 1-20页

作者： GU Peidong school of law Zhongnan University of Economics and LawWuhan 430073China

The diversified dispute resolution(DDR)in China is different from the alternative dispute resolution(ADR)in Western countries with respect to its fundamental cause and political,economic,social,and cultural *** better understand the DDR,the academic community shall go beyond the superficial feature of"distributing the burden of litigation"of the ADR in Western countries and consider it as the basic institutional arrangement and regular governance practice of state ***,we can adjust and reorganize the DDR based on such ***,after understanding the general features of dispute resolution forms,we should mobilize,aggregate,integrate,and use the dispute resolution resources in a society to improve and expand non-litigation dispute resolution forms and increase the overall supply of dispute resolution *** the real features of disputes in China and its specific demands for dispute *** or regulate the choice of dispute resolution foms for the parties to a dispute through reasonable system design,so that the dispute resolution demands and dispute resolution forms can be *** particular,the Communist Party of China(CPC)and Chinese governments should play the leading and organizing role in the DDR,to comprehensively improve the effectiveness of the"Pluralistic-Unity-Style"dispute resolution.

关键词： state governance diversified dispute resolution dispute resolution resources disputeresolutiondemands

Catalysts or Barriers?The Impacts of Natural Disasters on Internal Labor Migration in China

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China & World Economy 2024年第2期32卷 160-199页

作者： Xingyu Zhou Liu Han Jidong Chen Department of Political Science University of RochesterUS school of Finance Zhongnan University of Economics and LawChina school of Public Policy and Management Tsinghua UniversityChina

This paper discusses ways in which negative economic shocks captured by natural disasters can shape internal labor migration in *** impact of negative economic shocks on migration depends on the combination of two opposite driving forces:(i)negative economic shocks can make staying in the affected area less profitable,thus enhancing returns to migration;(ii)the shocks can make it more difficult to migrate out,thus inducing a higher fixed cost of *** on a nationwide dataset of China,this paper shows that when natural disasters were not severe,they caused migration out of rural *** sufficiently severe damage,however,the negative effect of natural disasters could be mitigated by villages'prior migrant ***,with a severe shock,only clan members were able to migrate in response to natural disasters and enjoyed the complementary effects of prior migrant networks,as they could receive more help from social capital.

关键词： family clans internal labor migration migrant networks natural disasters

Construction of Optimal Mixed-Level Uniform Designs

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Journal of Systems Science & Complexity 2024年第2期37卷 841-862页

作者： CHATTERJEE Kashinath LIU Min-Qian QIN Hong YANG Liuqing Department of Population Health Sciences Division of Biostatistics and Data ScienceAugusta UniversityGA 30912USA NITFID LPMC&KLMDASRSchool of Statistics and Data ScienceNankai UniversityTianjin 300071China school of Statistics and Mathematics Zhongnan University of Economics and LawWuhan 430073China

The theory of uniform design has received increasing interest because of its wide application in the field of computer *** generalized discrete discrepancy is proposed to evaluate the uniformity of the mixed-level factorial *** this paper,the authors give a lower bound of the generalized discrete discrepancy and provide some construction methods of optimal mixed-level uniform designs which can achieve this lower *** methods are all deterministic construction methods which can avoid the complexity of stochastic *** saturated mixed-level uniform designs and supersaturated mixed-level uniform designs can be obtained with these ***,the resulting designs are also χ^(2)-optimal and minimum moment aberration designs.

关键词： Generalized discrete discrepancy Hadamard matrix mixed-level design orthogonal array supersaturated design

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