Abstract: This paper offered the primary methodical proof on how director remuneration related to enterprise earnings in listed firms in China in light of most evidence focusing on cross-sectional data or data in a short span of time. Using full economic and business panel data on China’s publicly listed enterprise from 1999 to 2020 over two decades in the China Stock Market & Accounting Research database, we found statistically significant positive associations between director pay and firm performance in privately owned firms over this period, supporting the agency theory. In contrast, among the state-owned enterprises, there was a reverse relation between director compensation and firm financial performance, contributing to the existing literature. But the results also revealed that state-owned enterprises financially performed as well as private enterprises. Such findings suggested that state ownership might line up officials’ career incentives with party prime concern rather than pecuniary incentives. Also, CEO duality enhanced firm performance. As such, allegiance to the party and possible advancement to an upper-level political position would motivate company directors in state-owned enterprises. On the other hand, directors in privately owned enterprises might be motivated by monetary incentives. In addition, a statistical regression model was proposed and tested to get the results of the performance of state-owned enterprises. Finally, some suggestions were made about how to improve the institutional management of government-owned corporations in China.
Abstract: In any trust model, the two information sources that a peer relies on to predict trustworthiness of another peer are direct experience as well as reputation. These two vital components evolve over time. Trust evolution is an important issue, where the objective is to observe a sequence of past values of a trust parameter and determine the future estimates. Unfortunately, trust evolution algorithms received little attention and the proposed algorithms in the literature do not comply with the conditions and the nature of trust. This paper contributes to this important problem in the following ways: (a) presents an algorithm that manages and models trust evolution in a P2P environment, (b) devises new mechanisms for effectively maintaining trust values based on the conditions that influence trust evolution , and (c) introduces a new methodology for incorporating trust-nurture incentives into the trust evolution algorithm. Simulation experiments are carried out to evaluate our trust evolution algorithm.
Abstract: Green Forestation Plan (GFP) was expected to promote the reforestation of plains totaling 60,000 has within the first 8 years. Annual subsidies were budgeted at $120,000 per ha, and $2.4 million for 20 years. In this research we have surveyed landlords- opinions toward the GFP in an attempt to understand landlords- incentives for participating in the GFP and their levels of concern and agreement toward the policy design. Based our analysis of landlords- opinions on the policy design, we expect to derive appropriate complementary measures, establish effective promotional schemes, and raise the policy effectiveness of the GFP. According to the results of this research, there was still a relatively high proportion of population who were not aware of GFP; more than 50% of landlords were neutral or willing to participate given high reforestation subsidies; approximately 30% of landlords were unwilling to participate. In terms of the designs of GFP, more than 50% of respondents were concerned and agreed with the policy design. In terms of the period of this policy, 52.7% of respondents indicated that it should be shortened to 15 years or lower. In terms of the amount of the subsidy, 41.7% of respondents showed that it should be raised to approximately $250,000/ha. In terms of land area restrictions, 88.0% of respondents believed that the minimum should be lowered to 0.4 ha. More than 70% of respondents owned less than 0.4 has of land, and since they do not own enough land to be eligible for the program, more than 80% of landlords wished to lower the minimum requirements of land area. In addition, 59.3% of respondents were reluctant to participate in reforestation because their lands were too small to be eligible; 15.0% of respondents were reluctant because the duration was too long. Responses to the question about “how the policy can be adjusted to provide incentives for landlords- participation" revealed that almost 40% of respondents desired higher subsidies. Some policy suggestions are provided as follows: (1) many landlords are still unaware of the GFP so the government should enhance the promotion of the policy; (2) many landlords are unwilling to participate in GFP mainly because they do not own enough lands to be eligible, hence the government should consider adjusting its requirements for minimum agricultural land area; (3) for subsequent promotions on GFP, the government may consider targeting on the landlords with high income and high level of education; (4) because the subsidy of this policy alone provides limited help to landlords, the government should help the landlords to explore other revenue possibilities from afforestation in addition to the existing subsidies and raise the participation incentives.
Abstract: The purpose of this paper is to shed light on the
controversial subject of tax incentives to promote regional
development. Although extensive research has been conducted, a
review of the literature gives an inconclusive answer to whether
economic incentives are effective. One reason is the fact that for
some researchers “effective" means the significant location of new
firms in targeted areas, while for others the creation of jobs
regardless if new firms are arriving in a significant fashion. We
present this dichotomy by analyzing a tax incentive program via both
alternatives: location and job creation. The contribution of the paper
is to inform policymakers about the potential opportunities and
pitfalls when designing incentive strategies. This is particularly
relevant, given that both the US and Europe have been promoting
incentives as a tool for regional economic development.
Abstract: Planning the transition period for the adoption of
alternative fuel-technology powertrains is a challenging task that
requires sophisticated analysis tools. In this study, a system dynamic
approach was applied to analyze the bi-directional interaction
between the development of the refueling station network and vehicle
sales. Besides, the developed model was used to estimate the
transition cost to reach a predefined target (share of alternative fuel
vehicles) in different scenarios. Several scenarios have been analyzed
to investigate the effectiveness and cost of incentives on the initial
price of vehicles, and on the evolution of fuel and refueling stations.
Obtained results show that a combined set of incentives will be more
effective than just a single specific type of incentives.