Table of Content

16 January 2015, Volume 35 Issue 1

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RESEARCH ON THE INDUSTRIAL ENTERPRISES TECHNOLOGY
INNOVATION EFFICIENCY AND REGIONAL DISPARITIES IN CHINA ——Based on the Theory of Metafrontier and DEA Model

QIAN Li,XIAO Ren-Qiao,CHEN Zhong-Wei

2015, 35(1):  26-43. 

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By introducing the index of the industrial “three wastes” and carbon dioxide，this paper studies the theory of metafrontier and DEA model and analyzes the provincial enterprises green R&D achievement conversion efficiency and the technology gap between regions from 2003 to 2010This paper decomposes provincial innovation inefficiency and examines the two stages of efficiency affecting factorsThe results show as follows：(1) During the period，Chinese enterprises two stages of efficiency both are low with decline trends due to the decreasing of pure technology efficiencyGreen efficiency is lower than the traditional efficiency，the two provincial ranks of efficiency show strong correlation，which indicates that low economic efficiency province still falls in the technological environment effect transformation(2)There are significant differences in all provinces and major regionsTGR value shows that the eastern innovation technology level is the highest in the two stages，there is a risk that the gap may continue to be expandedThe two stages inefficiency in most eastern mainly comes from the low management level，but the inefficiency in middle and western areas mainly subjects to the backward regional production technology and enterprise management(3) The proportion of stateowned economy，foreign investment and technology trading environment enhancing have significant positive influence on improving the R&D efficiency，but enterprise scale has negative influenceTechnology trading environment is helpful to improving the S&T achievement conversion efficiency，but the enterprise scale and the proportion of stateowned economy have a negative impact

THE EQUALIZATION EFFECTS OF DIFFERENT TYPES OF
INTERGOVERNMENTAL TRANSFERS IN CHINA

JIA Xiao-Jun,YUE Xi-Ming

2015, 35(1):  44-54. 

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Applying the Gini coefficient decomposition method，this paper studies the transfer equalization effectsCalculated results show that both the general transfer and specificpurpose transfer tend to provide stronger support to areas with weaker fiscal capacity and thus bring about equalization effectsThe strength of general transfer is heavier than that of specificpurpose transferIn the numerous subprojects of specificpurpose transfers，transfer payment in rural tax and fee reform has the strongest support on poor areas，with general transfer payment in education transferred from specificpurpose transfers in 2009 taking the second place and then the subsidy assuring basic fiscal capacity and the transfers in wage adjustmentDue to its great scale，equalization transfer has the strongest equalization effects out of all the general transfer payments

RESEARCH ON THE EFFECT OF LOCAL GOVERNMENT TO URBAN LAND
SUPPLY IN CHINA

JIANG Nan-Ping,XU Hui

2015, 35(1):  55-66. 

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Onesided pursuing local economic growth would bring to oversupply of urban landThe larger of urban land output elasticity and the higher of government earnings ratio in the urban land transfer fund，the deeper of the level of excessive supply of urban landWith increasing the supply of urban land，the local economy endogenously involves trend which reduces the residents income share proportion and improve the government and companies share proportionIt is the reason for local government increasing urban land supplySolving the root of the excess supply of urban land in our country is to change growthoriented adaptive adjustment strategy of local government，to optimize urban land ownership between central and local government and between local government and microeconomic corpus，to adjust the existing distribution patterns of urban land proceeds，and to make urban land supply consistent with the view of longrun sustainable development and carry out under the institutional platform

THE INSTITUTIONAL PROCYCLICAL MECHANISM OF FINANCIAL
SYSTEM：THEORETICAL AND EMPIRICAL ANALYSIS

SONG Ke

2015, 35(1):  67-78. 

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Since 1970s，the mutually reinforcing mechanisms through which the financial system can amplify business fluctuations and possibly cause or exacerbate financial instability，is considered as one of the important revelations drawn from the frequent occurrence of crisesDifferent from traditional methods，the perspective of study has switched from the endogenous “selfbehavior procyclicality effect” to the exogenous “institutional procyclicality effect”This paper starts with the three typical cases，namely capital regulation，loan loss provisions system as well as fairvalue accounting principles，and expounds systematically the institutional procyclicality mechanisms of financial system from both theoretical and empirical perspectivesThe conclusion suggests that the institutional positive feedback mechanism which is rooted between the financial sector and real economy is closely related to the degree of economic fluctuations and is also the key factor that leads to financial instability

COMPARISON AND INSPIRATION OF CAPITAL ECONOMIC CIRCLE：
BEIJING，LONDON，PARIS，SEOUL AND TOKYO

LIU Rui,WU Qin

2015, 35(1):  79-94. 

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Generally，the economic structure of capital cities in the world includes eight constituent elements：services，headquarters，knowledge，lowcarbon，parks，rail，airport and harborCapital economic always first experiences polarization effects，and then turns to diffusion effects，and ultimately forms metropolitan economy in a certain areaBy collecting comparable and available data，four international metropolitan areas，London，Paris，Seoul and Tokyo，are compared with Beijing in eight aspects，including service economy，headquarters economy，the knowledge economy，green economy，industrial parks economy，prorail economy，airport neighboring economy and harbor neighboring economyPoor threshold method is used for comprehensive comparison，the results show as followsAs a capital，Beijing has economic development strength，ranking in the middleIf Beijing，Tianjin and Hebei are treated as a whole economic circle，it ranks behind other four international citiesThe truth is that its difficult to resolve “big city disease” on its own strength，only by achieving the integration of Beijing，Tianjin，Hebei and realizing joint development，namely establishing metropolitan economic in whole area，which can achieve optimization and upgrading of capital economic structure

RESEARCH ON MARKET ADAPTABILITY，SOCIAL CAPITAL AND
CORPORATE INSTITUTIONALIZATION
——A Case Study on Gome

ZHAO Jing,ZHU Li-Min,WANG Ming

2015, 35(1):  95-109. 

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To adapt the complex and dynamic environment，firms need to deal with the ambiguous demand of “scale” and “efficiency”：the exploration of new opportunity and the existing certaintyAn organization demonstrates market adaptability，which can mobilize the resource allocation flexibly based on the dominant demand of marketInstitutionalization is an effective approach to establish or enhance market adaptabilityMarket adaptability requires firms to response to environmental change rapidlyHowever，as an important resource，social capital is path dependent，which cannot match with market automaticallyTheir developments will be synergy dynamically，which complicates corporate institutionalizationThrough the longitudinal study of Gome，this paper focuses on the effect on corporate institutionalization of the dynamic synergy mechanism of market adaptability and social capitalThis paper finds that Gomes dynamic synergy mechanism determines the progress of corporate institutionalizationWhen they synergize poorly，the progress acceleratesConversely，the progress decelerates