The Inheritance of Marketization Level and Regional Human Capital Accumulation: Evidence from China

Yu, Mingzhe; Deng, Xin

doi:10.1016/j.frl.2021.102268

Cited by 37 publications

(10 citation statements)

References 30 publications

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“…Only 3% of family businesses manage four heritages. Figure 1 shows the four-stage inheritance model of family business [12].…”

Section: Concepts and Theories Related To Intergenerationalmentioning

confidence: 99%

The Investigation about the Heritage over Generations for the Family Enterprise and Firms Financialization Process

Liu

2022

Advances in Multimedia

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From the reform and opening up to the present, family businesses have become an important pillar of my country’s national economy and the most essential push power to the advancement of the Economy of China. At present, more and more family firms come to the top of the hill on the heritage over generations. Meanwhile, the right of owning the firm has changed from the inventor or creators to the descendant ones and it is a must for them to inherit to the advancement. The intergenerational inheritance of family businesses has also had a certain impact on the global economy. At present, China’s real economy is in a critical period of transformation and upgrading and industrial upgrading. At the same time, the weakening of the real economy. On the contrary, with the increasing popularity and deepening development of the financial industry, a large number of non-financial companies have turned their investment goals to the financial industry to obtain high returns. Of course, the company’s financialization must have its positive side, and naturally, there is also a negative side. There are opportunities for enterprises to obtain high profits, but there are also great investment and management risks. Therefore, before financial investment, we should also fully consider the business risks borne by family enterprises. In addition, because of the particularity of the ownership of family enterprises in China, there are great differences in many aspects compared with other family enterprises and non-family enterprises abroad and internationally. Therefore, there may be some differences in the impact of corporate financialization on them. This study will further study and analyze the internal factors and modes of family business intergenerational inheritance leading to enterprise financialization based on family emotional wealth theory and representative theory, combined with the process of family business intergenerational inheritance and family business financialization. In the theoretical part, it combs the literature, including the definition of intergenerational inheritance, influencing factors, and inheritance content. Through the empirical test of the intermediary effect, this paper analyzes and studies the direct impact and intermediary effect of the proportion of productive investment on the intermediary effect; the role of family business identity (most important for children), re measure explanatory variables, and use PSM, propensity score matching method to test the robustness of regression results.

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“…Only 3% of family businesses manage four heritages. Figure 1 shows the four-stage inheritance model of family business [12].…”

Section: Concepts and Theories Related To Intergenerationalmentioning

confidence: 99%

The Investigation about the Heritage over Generations for the Family Enterprise and Firms Financialization Process

Liu

2022

Advances in Multimedia

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“…e ongoing development of China's economy has promoted the continuous improvement of the whole financial system [1,2]. With the rise of China's capital market, Chinese companies have explored several financing channels, providing a driving force for China's economic development [3,4]. In this regard, China has formulated some new preferential policies to stimulate economic development in recent years, including bond market policies [5].…”

Section: Introductionmentioning

confidence: 99%

Effectiveness Evaluation Model of Digital Cost Management Strategy for Financial Investment of Internet of Things Enterprises in Complex Environment

Yue

Guo

2022

Scientific Programming

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In the current study, a depth evaluation for the strategic cost management (SCM) based on Internet of things (IoT) enterprises is performed. The SCM is analyzed under the umbrella of replication environment and financial digitization. Our proposed method of evaluation consists of the replication technology, the relationship between corporate finance, corporate performance, and SCM. However, in the second stage, we considered Xiaomi Corporation (Xiaomi), an IoT enterprise, as our hypothesis and benchmark model to analyze the existing issues related to cost management. Finally, the strategy and effect of Xiaomi’s SCM based on the value chain are thoroughly investigated and an in-depth insight has been provided. Moreover, our results show that the SCM of Xiaomi based on the value chain has achieved optimum results, such as reducing the total cost per unit product and increasing the market share. However, a few issues still need improvements, such as insufficient innovation ability, the incomplete scope of cost management, and a small amount of patent authorization. This article is conducive to enterprises for better strategic planning and to improve cost management efficiency. Moreover, it provides a reference basis for the cost management problems faced by other IoT enterprises.

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“…Second, previous research on the consequences of marketization has found marketization’s crucial economic importance (Fan et al, 2011; Jin & Qian, 1998; Yu & Deng, 2021) and substantial societal costs (Bartling et al, 2015; Falk & Szech, 2013; Z. Q. Xin & Xin, 2017; Zhang & Xin, 2019).…”

Section: Discussionmentioning

confidence: 99%

Provincial marketization and individual financial literacy in China.

Xin¹,

Yang²

2023

Journal of Neuroscience, Psychology, and Economics

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In the past decades, China has experienced a process of marketization, but the levels of marketization in each province are imbalanced. The present research examines how provincial-level marketization predicts individual-level financial literacy in China by investigating a nationally representative sample with a set of standardized financial literacy tests. The results showed a positive association with a diminishing return between marketization and the Homo economicus index of financial literacy, including financial knowledge, financial capacity, and financial management values. Furthermore, there was a U-shaped relationship between marketization and the Homo sociologicus index of financial literacy, including wealth values and financial ethics. The findings not only contribute to understanding the nonmonotonic roles of marketization on different facets of financial literacy but also point to an institutional avenue for policymakers and practitioners interested in improving individual financial literacy.

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The Inheritance of Marketization Level and Regional Human Capital Accumulation: Evidence from China

Cited by 37 publications

References 30 publications

The Investigation about the Heritage over Generations for the Family Enterprise and Firms Financialization Process

The Investigation about the Heritage over Generations for the Family Enterprise and Firms Financialization Process

Effectiveness Evaluation Model of Digital Cost Management Strategy for Financial Investment of Internet of Things Enterprises in Complex Environment

Provincial marketization and individual financial literacy in China.

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