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| Srl | Item |
| 1 |
ID:
116499
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| Publication |
2012.
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| Summary/Abstract |
This paper attempts to examine the impact of government intervention on executive compensation contracts by employing the data of listed companies in the Chinese equity market. The results show that redundancy burden caused by government intervention significantly reduces the compensation-performance sensitivity of executives in state-owned enterprises (SOEs), increases the level of compensation stickiness and leads to more executive perks. However, there is no evidence to support this conclusion in non-SOEs. Our results indicate that government has great responsibility for redundancy in SOEs and has a significant impact on the design of executive compensation contracts, but has limited impact on that of non-SOEs. Therefore, the impact of redundancy burden on executive compensation contracts is different between SOEs and non-SOEs. Our findings have important implications for the relationship between property rights and corporate performance, the formation mechanism of redundancy, and the impact of redundancy burden on executive compensation contracts.
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| 2 |
ID:
187878
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| Summary/Abstract |
This paper develops a novel while plausible way to model the Chinese monetary transmission via open market operations (OMOs). In the model, monetary injections through OMOs, together with differentiated collateral regulation in the banking sector, directly affect banks' loan capacities, which then influence sectoral investments and aggregate GDP. The quantitative analysis shows that the 2009–2010 monetary expansion explains nearly 66% of the rise in GDP growth. Moreover, balancing credit allocation across sectors and applying unified banking regulations jointly enhance the GDP growth rate by 1.65 percentage points, with the contribution of the unified banking regulations proving more important.
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| 3 |
ID:
149959
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| Summary/Abstract |
Although China owns large coal reserves, it now faces the problem of depletion of its coal resources in advance. The coal-based energy mix in China will not change in the short term, and a means of delaying the coal resources depletion is therefore urgently required. The residual coal was exploited first with a lower recovery percentage and was evaluated as commercially valuable damaged coal. This approach is in comparison to past evaluations when the residual coal was allocated as exploitation losses. Coal recovery rates, the calculation method of residual coal reserves and statistics of its mines in China were given. On this basis, a discussion concerning the impacts on the delay of China's coal depletion, development of coal exploitation and sustainable developments, as well as technologies and relevant policies, were presented. It is considered that the exploitation of residual coal can effectively delay China's coal depletion, inhibit the construction of new mines, redress the imbalance between supply and demand of coal in eastern China, improve the mining area environment and guarantee social stability. The Chinese government supports the exploitation technologies of residual coal. Hence, exploiting residual coal is of considerable importance in sustainable development of the coal industry in China.
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