Finance & Economics of Xinjiang

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The Nature of Property Rights, Industry Characteristics and Competitive Effects of Cash Holdings——Based on the Adjustment Effect of the Marketization Process

Yang Xingquan, Yin Xingqiang

Finance & Economics of Xinjiang 2016, 0 (1): 20-33. DOI: 10.16716/j.cnki.65-1030/f.2016.01.003

Abstract （179）

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Based on marketization process, industry characteristics and nature of property rights, using Shanghai and Shenzhen A-share listed companies as samples from 2003 to 2012, this paper explored their impact on competitive effect of cash holdings. Empirical evidence showed that the marketization process weakens competitive effects of the company's cash holdings by easing financing constraints faced by enterprises; competitive effects of cash holdings mainly be existed in private enterprises, which is not significant in state-owned enterprises. The marketization process significantly weakens the difference of the competitive effects of cash holdings among citizens; with the enhancement of industrial growth and competition, the competitive effect of cash holdings is more obvious, the effect of the industrial characteristics to the competitive effects of cash holdings is more significant in private enterprises. To some extent, higher marketization process also strengthens the above impact. Therefore, it can be concluded that the overall process of marketization reduces “citizen differences”, optimizes the competitive environment, and is also beneficial for the competitive effects of cash holdings.

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Cited: Baidu(2)

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Property Defects, Village Internal Governance Fail, and External Audit: Theoretical Framework and Case Analysis

Zheng Shiqiao, Lv Junjie, Zhang Yaozhong

Finance & Economics of Xinjiang 2016, 0 (3): 18-27. DOI: 10.16716/j.cnki.65-1030/f.2016.03.003

Abstract （202）

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Village governance is fundamental among “Three Rural Issues” (agriculture,rural areas and farmers) in China. However,because of the property defects and complicated social environment, internal governance of the village economy may fail. Therefore, it is of necessity to cooperate with the help of external governance. External governance includes the checks and balances mechanism and supervision mechanism, financial agency system for village and the accountant accreditation system are checks and balances mechanism, and external audit is a basic external supervision mechanism, each external mechanism has its advantages and disadvantages, therefore, they need to cooperate with each other, but anyway, checks and balances is fundamental. The entity of audit village include government audit and nongovernmental audit, and government audit cost is lower, its effect is better. The objects of village audit include village and its financial agency. The audit subject for village audit include financial information and non-financial information, behavior and institutions, the kind of engagement for village audit include financial audit, compliance audit, performance audit, internal control audit and comprehensive economic responsibility audit. In order to improve the village economic governance system, it is of necessity to build town-level government audit to carry out village audit, which should be authorized from the perspective of legislation.

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Cited: Baidu(1)

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A Study of Development of Agritainment and Surplus Rural Women Labor Transfer in Urumuqi——Take Farm-house Tourism as an Example

Bai Xiang, Yang Hong

Finance & Economics of Xinjiang 2015, 0 (2): 44-48.

Abstract （153）

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This paper,taking Fangjiazhuangzi Villiage in Urumqi County as an example,conducts a questionnaire survey to truly reflect the development of Farm-house Tourism and the transferring of surplus rural women labor in Urumqi.It is aimed to find the features during the surplus rural women labor are absorbed by Farm-house Tourism.At the same time,we can summarize the problems during it.The results show that,1) by means of transferring to Farm-house Tourism,the income of the rural surplus labor women is increasing with longer working time,not so high requirements of employment,or gender discrimination. However,the employment information channel is not smooth;2) The problems during the surplus rural women labor which are absorbed by Farm-house Tourism in study area mainly reflect from two aspects: the shortage of occupation skills and lack of legal awareness;3) the main influencing factors during the surplus rural women labor which are absorbed by Farm-house Tourism can be divided into two kinds: the first is that the absorptive capacity is limited,and the second is that the quality of the labors is not good enough. A much better employment environment should be constructed by the government for promoting the development of Farm-house Tourism.

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Cited: Baidu(1)

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