Suchergebnisse

The influence of China in the world is undebatable, and it has been increasing over time. Because of the one-party political system and the heavy-handed role of China's government in the Chinese economy, it is essential to understand government policies in China. The objective of this research is to provide more insight into these policies in the epoch of marketization and limited government reforms in China and to anticipate possible outcomes resulting from these policies. The focus of this paper will be the Xi Jinping era, which started in 2012 and could endure into the 2020s given his latest political victory at the 19th CPC National Congress. I will also provide a brief policy assessment of the period from 1978 to 2012, the chapter of Chinese marketization and limited government reforms before the Xi Jinping era, which will help me to more effectively analyze of the historical background of Xi's policies and offer more specific policy recommendations for Xi's political era. My approach is based on the theoretical foundations of praxeology, which I will apply using the theories of both Austrian School economics and the Public Choice School. I conclude that the Xi Jinping political era poses some risks to the marketization of China and the limitation of government's role in society, as some policies violate the principles of private property rights and endanger prosperity in China.

Introduction -- Impact on society, the issuer, and the insider trader's employer -- The harm to individual investors from a specific insider trade -- Some basic elements of insider trading liability under Section 10(b) and Rule 10b-5 -- Those who violate Section 10(b) and Rule 10b-5 by insider trading or tipping -- The Rule 10b-5 private plaintiffs who can sue a stock market insider trader for damages -- Government enforcement -- The ALI's federal securities code -- Rule 14e-3: insider trading or tipping in the tender offer context -- Section 17(a) of the Securities Act of 1933 -- The federal mail and wire fraud statutes -- Black-out periods -- Compliance programs -- "Insider trading" under Section 16 -- State common law and state law claim by issuer

AbstractResearch question/issueThis paper studies the relationship between chief executive officers' (CEOs) personal experiences and corporate innovation in China.Research findings/insightsWe find that CEOs' famine and military experiences adversely impact firm innovation outcomes. In particular, our channel tests show that CEOs with famine experience adversely affect firm innovation by reducing both R&D expenditures and innovation efficiency, whereas CEOs with military experience hinder innovation mainly by reducing research staff.Theoretical/academic implicationsOur results imply that innovation conservatism in some firms may be partly explained by individual CEO's early‐life personal experiences. Our study thus has broader implications for the differences in management style across corporate executives who go through different experiences.Practitioner/policy implicationsOur findings provide important insights for policy makers, suggesting that they should consider CEOs' early‐life exposure to different experiences as important "soft information" when evaluating firms' innovation potential for government subsidies.

AbstractReform and innovation toward the Western standards have been a perennial theme in the modern history of Chinese music. However, reformers can be easily overwhelmed by various details, to the point that the most fundamental question, What is Chinese music?, is often obscured. In a sense, we have to define the boundary of Chinese music to determine what new elements should be integrated and what traditional features should be preserved. Chinese music is a highly diverse and complex system, yet traditional Chinese culture emphasizes the importance of homogeneity over heterogeneity due to the constant need for political unity and demand of a single market. However, cultural identity cannot be constructed by homogeneity alone since the boundary of culture can only be best identified when examining its heterogeneity. Pipa and guqin, which represent Chinese musical cultures under significant and little Western influence, respectively, provide an ideal window through which the boundary of Chinese music might be delineated. By discussing the aesthetic pursuits and evolutionary paths that are distinct between the two instruments, the article aims to initiate a small step toward a better understanding of how Chinese music is indeed a highly complex and heterogeneous system in which various musical cultures, despite their distinct origins, can come into contact, interact, fuse, and eventually achieve the state of "unity in diversity."