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    Technology Gap, Convergence of Economic Growth: Empirical Test Based on Provincial Panel Data
    DONG Zhi-Qing,SONG Wei,ZHAO Jing
    Journal of East China Normal University (Philosoph    2015, 47 (6): 129-139.   DOI: 10.16982/j.cnki.1000-5579.2015.06.016
    Abstract309)   HTML9)    PDF (861KB)(1006)      
    Introduce the technology gap to endogenous technology growth model, and with our country region in panel data of 1997-2013, to examine the relationship of the technology gap, economic growth and economic convergence. The results show that: (1) Technological progress shows inverted V-shaped direction and area’s feature is outstanding, the technology gap and economic growth exists nonlinear relation, and the threshold effect is remarkable. Among these, the eastern region is generally located in the left of the threshold and the central and western regions are in the right. (2) The macro economics and regional economics behave the convergence and club convergence respectively, and the eastern average annual convergence speeds faster than the western region’s, and the technical gap increase will hinder technological progress and growth. Therefore, areas of our country should pinpoint their technology level and economic level, and select technology which corresponding their resources endowment; the minority of developed eastern areas which has across the threshold of the technology gap should pay more attention to independent innovation; and adjust the structure of human capital in order to fit physical capital accumulation, economic development level and the level of technology introduction, guide human capital from the eastern developed regions to central and western regions, strengthen basic education and construct multi-level education system, guarantee the long-term effectiveness and multi levels of human capital, training professional experts in order to solve the imbalance between supply and demand.
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    The Happiness Effect of Education: Trend, Strength, Speed and Span
    FU Hong-Chun,HUANG Zhi-Hua
    Journal of East China Normal University (Philosoph    2015, 47 (6): 140-147.   DOI: 10.16982/j.cnki.1000-5579.2015.06.017
    Abstract416)   HTML7)    PDF (573KB)(816)      
    It is widely recognized that happiness is the ultimate purpose of all human activities. Does education as an important activity of human society have any effect on happiness? If it does, what is the strength, speed, breadth of education’s effect on happiness? Addressing these questions at both micro- and macro-scales require a thorough understanding of this complex issue. At a micro-level, how can we determine the happiness effect of education as specific as a particular behavior of an individual’s education (educational activities, investment in education, etc.): Is there any effect? If there is, is it negative, positive, or both? If both negative and positive effects exist, which is stronger and grows faster - the negative or positive effect? If extended to the macro-perspective of the whole society, the measure of educational effects on happiness will be even more complicated. Through examining the history of the entire social development of mankind, we can learn that education has had positive effect on happiness (more specifically, positive effect is strong and long while negative effect is weak and short). This is what shall be kept in mind in the pursuit of achieving the “China Dream” today.
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    Economic Research and the Reform & Development of Chinese Economy: an Analysis Based on Bibliometrics
    YE De-Lei
    Journal of East China Normal University (Philosoph    2015, 47 (6): 148-154.   DOI: 10.16982/j.cnki.1000-5579.2015.06.018
    Abstract363)   HTML16)    PDF (691KB)(713)      
    As a representative academic journal in China’s economic theory circles, papers published in “Economic Research Journal” reflects China's social as well as economic development and reform and opening up process to a large extent, meanwhile they also reflect the development and change of Chinese Economy’s research priorities, research methods and research styles. Using bibliometrics methods and taking “Economic Research Journal” as the studying object in the period of 1978 to 2010, this paper chooses the high frequency words and key words which appear in the papers of this journal as retrieval words by making use of CNKI, to find certain characteristics of these papers in the journal published in different history period, and then interpret and analyze them in combination with the changes of Chinese social economic environment.
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    The Process, Risks and Countermeasures of Chinas Transformation of Foreign Economic Development Mode in a Global Production Network
    TANG Hai-Yan, ZHANG Hui-Qing
    Journal of East China Normal University (Philosoph    2015, 47 (5): 129-136.   DOI: 10.16382/j.cnki.1000--5579.2015.05.014
    Abstract319)   HTML4)    PDF (1548KB)(849)      
    A global production network can be defined from the perspective of intraproduct specialization, and its shaping and developing directly influences the mode and transformation of foreign economic development in a country. There are some theoretic logics and inherent disciplines about the transformation of foreign economic development mode. In a global product networks, Chinas foreign economic development mode should be transformed from an exogenous and extensive style to a balanced, inclusive and intensive one. The essence of transformation is to enhance Chinas status in the global production network and global value chains. However, it is a complicated process to transform Chinas foreign economic development mode and there may be some risks in this process. Therefore, Chinas transformation of foreign economic development mode must grasp the key points as follows:(1) insistence on participating in international division of labor based on comparative advantage, realizing the evolution from comparative advantage to competitive advantage through ‘Made in China 2025’ plan;(2) complying with the trend of global value chains transferring, making the best use of the markets abroad and at home and the internal and external resources to create an updated version of ‘Made in China’;(3) developing core competence of firm by considering global value chain, fostering the micro subject with international competitiveness through ‘Internet Plus plan;(4) optimizing trade policy by the new thinking of intraproduct specialization and global production network, promoting the transformation and upgrading of processing trade.
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    Influential Factors and Developing Strategies of Interprovincial Tourist Destination Market: An Experience Analysis with a Spatial Panel Model
    FENG Xue-Gang, HUANG He-Ping
    Journal of East China Normal University (Philosoph    2015, 47 (5): 137-149.   DOI: 10.16382/j.cnki.1000--5579.2015.05.015
    Abstract243)   HTML3)    PDF (8578KB)(876)      
    While the “push” force in the “pushpull” theory explains why the tourists travel, the “pull” force explains why the tourists choose the destination instead of others. Factors concerning destination “attraction” constitute key variables for the direction, quantity and quality of a tourist flow. Based on the perspective of attractive power of tourist destination and full consideration of the spatial correlation effects, this paper chooses six key variables which affect the direction and quantity of a tourist flow, using 10 years of panel data from 2004 to 2013 of 31 province/cities/autonomous region, and identify the significance and impact of each variable. The results show that the geographical adjacency and space distance will have an impact on the distribution of tourist flows in each province, and the regional differences and destination market development potential can be measured in the dimension of tourism resources endowment, climate comfort, traffic conditions and so on, which can provide decisionmaking basis for tourist destination market development and tourist flow regulation.
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    Brand Values: Three Studies on the Representations of Country Brand of China, Chinas Business Brands and Their Strategic Implications
    HE Jia-Xun, WU Yi
    Journal of East China Normal University (Philosoph    2015, 47 (5): 150-166.   DOI: 10.16382/j.cnki.1000--5579.2015.05.016
    Abstract381)   HTML8)    PDF (2965KB)(1206)      
    Based on the human values structure proposed by Schwartz and Boehnke(2004), this paper adopts the methods of survey, content analysis, and indepth interview to introduce the new concept of “brand values” through three studies. The purpose is to verify the effectiveness of using Chinese values to build Chinese brand concepts. Study 1 shows that “China”, as a country brand, embodies brand values that are consistent with Chinese culture, but possesses differences in some value dimensions between consumers from developed countries, underdeveloped countries and the host country, China. Study 2 demonstrates that Chinas business brands embody values in coherence with those of China as a country brand, while internationalized brands and noninternationalized brands present some different patterns. Study 3 reveals that “security” is the dominating value in Lenovo and Haier perceived by American consumers, but varied additional values respectively are also perceived towards them. To sum up, there is close connection in the aspect of values between “China” as a country brand and Chinas business brands. The conclusion of this paper reveals important strategic implications to Chinese brands which are going global, namely, when building global brand positioning, the resources of Chinese culture can be selected as brand concepts.
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    Research on Coordination Development of Shanghai Urban Recreationalization
    Lou Jia Jun, Li Limei, Xu Peng
    Journal of East China Normal University (Philosoph    2015, 47 (3): 95-101.   DOI: 10、16382/j.cnki.1000-5579.2015.03.010
    Abstract422)   HTML5)    PDF (1255KB)(1413)      
    Urban recreationalization is a form of urban development in the post industrial era. The level of urban recreationalization is the result of coordinated development of leisure-related elements. Constructing an evaluation index system and model, this paper analyzes the process and characterizes of Shanghai urban recreationalization coordinated development in the period of 1978-2013. The results suggest: first, Shanghai urban recreationalization see four stages from low to high coordinated since the reform and opening up; second, leisure industry and consumption are the important factors in promoting coordination development; third, the rapid growth of leisure consumption reflects the feature of urban recreationalization to improve living standards as the fundamental point.
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    An empirical study on the relationship between tourism development and economic growth—a panel data analysis of the EU case
    CHEN Xiao-jing
    Journal of East China Normal University (Philosoph    2015, 47 (3): 102-109.   DOI: 10、16382/j.cnki.1000-5579.2015.03.011
    Abstract332)   HTML4)    PDF (1328KB)(1410)      
    This paper applies the heterogeneous panel conintegration technique to investigate the causal relationship between tourism development and economic growth for EU countries (including EU 15 and EU 12) for the time period of 1996-2011. After allowing for the heterogeneous country effect, a conintegrated relationship between tourism development and GDP is substantial. It is also determined that from the long time effect perspective, there exist bidirectional causality between tourism development and economic growth in both EU 15 and EU 12; this is also the case in EU 15 from a short time effect perspective but only unidirectional causality in EU 12. This has been reproved from the country groups divided according to geographic factors. These empirical findings have great policy implications.
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    The Change of Liquid Shares, the Growth of Earnings and the Performance of Stock Price: Based on An Analysis of Growth Enterprise Market
    YE De-lei & MENG Ying & LIU Yu-ning
    Journal of East China Normal University (Philosoph    2014, 46 (6): 113-120.  
    Abstract696)   HTML4)    PDF (1337KB)(1563)      
    The change of liquid shares, the growth of earnings and the performance of stock price are three interdependent aspects. Any unidirectional relationship between any two of them should not be analyzed separately. Using the method of simultaneous equations, we tried to analyze all of the interactions between these three aspects at the same time (including positive correlation and reverse correlation). In this article, we found company performance and share price performance to have a positive association. Meanwhile, we used many ways to measure the change of liquid shares, but its connection with company performance became relatively complicated. When it comes to the rate of share price change, optimistic impacts have been detected in the change of the top 10 liquid shareholders, the number of liquid shares per capita and the scale of liquid shares respectively, and vice versa. Nevertheless, there is a negative relation between the ratio of the total liquid shares of the top 10 liquid shareholders and the rate of share price change.
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    The Correlation between Valuation and Incentive Role of Accounting Information ——the Test based on Cash Flow Information
    Jingjing Xu
    Journal of East China Normal University (Philosoph    2014, 46 (6): 121-128.  
    Abstract611)   HTML4)    PDF (1263KB)(1496)      
    This paper studies the correlation between valuation and inventive role of cash flow information in Chinese stock market. Specifically, using data from year 2002 to year 2012 in Chinese stock market, this paper discusses whether there’s a correlation between valuation and incentive role of cash flow information, and what’s the difference compared to earnings information. The results show that there’s a positive correlation between the valuation and inventive role of cash flow information, but this correlation is weaker compared to earnings information. This paper is a complement to the studies about the correlation between valuation and inventive role of accounting information. This paper also can be a reference to people who care about valuation or compensation contract.
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    The Impact of CEO Characteristics on R&D Investment Intensity: An Empirical Study Based on Chinese Listed Manufacturer Firms
    XUE Yue & CHEN Qiao
    Journal of East China Normal University (Philosoph    2014, 46 (6): 129-138.  
    Abstract734)   HTML7)    PDF (1796KB)(1764)      
    This paper chooses the listed manufacturer firms in China as samples from 2009 to 2011, with focusing on exploring relationships between their CEO characteristics and R&D investment intensity. By analyzing the results, CEO’s career background, the relationship with government and the percentage of corporate shares CEO owns have a statically positive relationship with R&D intensity. Then, this paper concluded that: firstly, those creative CEOs who grasp opportunities for innovation and avoid investment risks, contribute to R&D investment, which promotes rapidly development of the firms; secondly, relationship with government should be paid attention to and well made use of.
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    A Review of Research on the Formation of Psychological Contract and Managerial Implication about EmploymentRelationship
    SHI Jian-wei,WANG Sheng,ZHOU Ping
    Journal of East China Normal University (Philosoph    2014, 46 (6): 139-145.  
    Abstract698)   HTML7)    PDF (1300KB)(2377)      
    Mainly focusing on the content, structure and break/violation of psychological contract, the existing researches paid less attention to formation of psychological contract. In order to strengthen the application value of psychological contract in human resource management, many scholars suggested attaching great importance to the study on formation of psychological contract. Here we reviewed the relative researches based on three aspects, including psychological schema, influencing factors and dynamic evolution process. According to the above, managerial implications of establishing and maintainingsound psychological contract between employees and organizations were put forward.
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    The Problems and Countermeasures of the Government Budget with Chinese Characteristics
    LIU Xiao-chuan
    Journal of East China Normal University (Philosoph    2013, 45 (2): 131-135.  
    Abstract755)   HTML11)    PDF (1684KB)(1591)      
    The government budget with Chinese Characteristics is featured by highly centralized financial authority, strong flexibility and powerful administrative guidance, which has played an important role in increasing the national strength at the early stage of China’s economic system reform. But in recent years, some problems concerning the government budget with Chinese Characteristics has emerged, such as budget deficit crisis, striving for interests against people, lacking of coordination with the development of enterprises, etc. All of these are harmful to our social-economic development. Therefore, it is urgent to amend the Budget Law to construct a feasible framework of the government budget with Chinese Characteristics and establish its disclosure and supervision system on the basis of taking an objective and comprehensive view of the government budget.
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    Which has more impact on Analysts’ Investment Rating: Broker’ Interests or Information Advantage?
    FENG Ti-yi
    Journal of East China Normal University (Philosoph    2013, 45 (2): 136-144.  
    Abstract744)   HTML8)    PDF (1676KB)(1503)      
    Taking broker as the research object, we get 63388 investment rating samples for 1597 domestic A shares made by 2805 analysts employed by 111 brokers in order to test the affection of broker’ interests and information advantage on the information contents and the optimism degree of analysts’ rating and market reaction. The results show that analysts’ rating for brokers’ self-trading stocks and institution investors’ heavy-holding stocks have less information contents and are more optimistic due to the conflicts of interests; underwriting relationship can’t add information contents; reputation has more pressure on individual analysts while less on brokers; star analysts provide superior recommendations; geography adjacent to headquarter location adds information contents; the market does react to investment rating. All these conclusions can be used to screen investment ratings, thus helping to protect the interests of investors.
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    Research on the Perceived Value of the Second-hand Electronic Products in Shanghai
    LV Jun & CHEN Hua
    Journal of East China Normal University (Philosoph    2013, 45 (2): 145-149.  
    Abstract807)   HTML9)    PDF (1678KB)(1610)      
    With the increasing demand for a better environment, the concept of low-carbon and green life style has been popularized and filtered into people’s minds. Although the research on second-hand market is increasing, far less work has been down in empirical field than in academic one. This thesis selects the second-hand market of electronic products in Shanghai as the subject, makes hypotheses of research and designs questionnaires in the survey, and makes descriptive statistics analyses of 232 effective questionnaires with parameter evaluation and hypothesis investigation of regression model. The result shows that the key factors to affect the perceived value are brand, purchasing risk and environmental awareness. Therefore, we should attach importance to brand constructing, reduce customers’ purchasing risk and improve customers’ environmental awareness so as to promote the construction of the second-hand electronic products market in Shanghai.
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    Two Paradoxes of Happiness: Income Paradox and Desire Paradox
    FU Hong-Chun, WANG Jin
    Journal of East China Normal University (Philosoph    2013, 45 (1): 79-86.  
    Abstract1438)   HTML10)    PDF (1611KB)(1972)      
    There is a formula of happiness: Happiness = income / desire. In order to “maximize happiness”, two completely contrary approaches are possible: one is to maximize the numerator in the formula, i.e., to increase income, whereas the other is to minimize the denominator in the formula, i.e., to lessen desire. The former results in an “income-paradox” (or Easterlin paradox) typically in contemporary West. In contrast, the latter brings out a “desire-paradox”, which can be easy find in ancient China. These two paradoxes can be understood and consequently solved within one framework of economics.
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    Individual Ideas, Collective Ideas and Institutional Transition
    JIANG Wan-Sheng, ZHANG Feng-Zhu
    Journal of East China Normal University (Philosoph    2013, 45 (1): 87-93.  
    Abstract1255)   HTML8)    PDF (1528KB)(1874)      
    According to their existing form, ideas fall into two categories: individual ideas and collective ideas. When disseminated to a certain extent, individual ideas turn into collective ones through individual awareness, collective imitation and social opinions. Widely accepted by group members, collective ideas bring free individuals together into a cohesive community. Restraining the behaviors of community members, collective ideas enable community members to conduct consistent actions, which is essential to an institution. The change of collective ideas is the sign of institutional transition, and it can also direct institutional transition. When collective ideas start to change, original institutions will no longer adapt to the changed collective ideas. At this time, institutions and collective ideas will weaken each other, and collective ideas will promote the change of the existing institutions and the birth of new ones
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    The Private Order in Online Transaction: Reputation,Enforceable Contract and Credit Evaluation System
    YIN Hong
    Journal of East China Normal University (Philosoph    2013, 45 (1): 94-102.  
    Abstract1134)   HTML10)    PDF (1559KB)(1374)      
    Due to the deficiency of online transaction contracts, the lack of credit reporting system and the imperfection of law, public order could not solve the problem concerning credit in online transaction and the private order concerning reputation has gained wide attention recently. According to the principle of “incentives, coordination and authority”, the private order is analyzed into three kinds: “the spontaneous”, “the intermediary” and “the organized”. An online transaction model is established to theoretically prove the role of private order in preventing moral risk in online transaction. Therefore, according to the three kinds of private order, it is necessary to design and improve external mechanisms to guarantee that the private order plays a stable role in the place of public order to some extent.
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    The Change of the Global Financial Structure Strength in the Post--crisis Era
    YUE Hua
    Journal of East China Normal University (Philosoph    2012, 44 (6): 109-115.  
    Abstract1330)   HTML12)    PDF (1697KB)(1254)      
    The financial crisis erupted in 2008 has not only dragged the world’s economy into a recession but also caused the global financial structure strength under the Dollar--Wall Street regime to begin to change. There are some factors which influence the change of the global financial structure strength, such as the prevailing of hegemonism, the social allocation of capital, the role of credit rating and public opinion supervision in globalization, etc. The contest of the global financial structure strength often happened between the US and Europe. However, the crisis in 2008 offered an opportunity for the emerging market countries to become powerful. Henceforth, the situation that US dollar dominated the world has been changed. Although Euro “challenges” US dollar, it is tested by European debt crisis. Only the emerging market countries with strong economic growth have won more discourse power in the negotiation of building new international financial order. China should accelerate RMB’s internationalization and gain dominance in the international financial competition.
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    Empirical Test on Influence Factors of Italian Sovereign Debt Crisis
    SUN Li, LIN Ruo-Xun
    Journal of East China Normal University (Philosoph    2012, 44 (6): 116-124.  
    Abstract1133)   HTML8)    PDF (1694KB)(2366)      
    In the spring of 2010, Greek sovereign debt crisis suddenly broke out, which caused the Eurozone that had not recovered from the global financial crisis to get into predicament that lasts till now. More and more countries which have larger shares of the GDP in the EU have been involved. This shows that it is important to study further on the factors that influence the European sovereign debt crisis. The empirical analysis based on selected Italian annual and quarterly macroeconomic indicators shows that public finance expenditure, interest rates and macroeconomic climate index have positive impact on the long--term debt. However, the exchange rate, long--term national debt yield and current account balance have negative impact. Moreover, public finance expenditure and exchange rate bring prominent impact on the scale of public debt through transmission in several periods. The European governmental authorities should carry out the structural reform starting from the transmission mechanism of the important variables so as to eventually get out of the crises.
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