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Table of Content
28 December 2023, Volume 40 Issue 6
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CONTENTS
2023, 40(6): 2-4.
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County Governance in Transformation：From the Perspective of Interaction between State Power and Grassroots Political Power
WU Chunlai
2023, 40(6): 5-12. doi:
10.16387/j.cnki.42-1867/c.2023.06.001
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State power is the dominant force shaping the transformation of grassroots governance. With the development of modern country construction， the structure and form of grassroots governance have undergone many changes. This transformation takes on two characteristics：On the one hand，grass-roots governance shows the trends of pan-institutionalization，reinforcement of organizational mobilization，and permeation of administrative supervision，which is an active strategy adopted by the county system to cope with the pressure of territorial governance. On the other hand，the control of state power over the grassroots system is becoming routine， including power supervision，administrative standardization，and policy coordination. Both the infiltration of state power and the self-empowerment of county system are strengthening， which is the basic characteristic of the change of grassroots governance in form since the 18th CPC National Congress. It is necessary to reflect on the transformation of county governance and further promote the reform of county governance from the perspective of state power construction in the post-establishment era，so as to bolster the modernization of county governance.
Analysis of“Labor Liberation”in the Perspective of Artificial Intelligence
CHEN Yingying
2023, 40(6): 13-22. doi:
10.16387/j.cnki.42-1867/c.2023.06.002
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The Social Regulation Function of Invoking Constitution
WEI Jianxin，TIAN Shengwen
2023, 40(6): 23-33. doi:
10.16387/j.cnki.42-1867/c.2023.06.003
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Impact of School Bullying on Peer Relationship：Take An Empirical Investigation of Senior Elementary School Pupils in Changsha City as Example
HU Chunguang
2023, 40(6): 34-46. doi:
10.16387/j.cnki.42-1867/c.2023.06.004
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Internet Use，Social Trust，and Youth’sCharity Donation：Empirical Analysis Based on CFPS2018
CHANG Jinfeng，ZHANG Xun
2023, 40(6): 47-57. doi:
10.16387/j.cnki.42-1867/c.2023.06.005
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Elements of Trust in Farmer’sCollective Action：ATheoretical Review
SHEN Lizhu
2023, 40(6): 58-69. doi:
10.16387/j.cnki.42-1867/c.2023.06.006
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The Contagion Effect of Exchange Rate Risk in Major Asian Economies and Its Traceability from the Perspective of Volatility Spillover
YAO Dengbao，LIU Chang，YU Min
2023, 40(6): 70-81. doi:
10.16387/j.cnki.42-1867/c.2023.06.007
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In the context of frequent major events and continued interest rate hikes by the Federal Reserve，frequent fluctuations in the world exchange rate market affect the stable development of the financial market. Based on the cornerstone role of exchange rate stability in the global economy，this paper explores the currency exchange rate fluctuations of major Asian economies in different rate hike cycles of the Federal Reserve. ALASSO-VAR model is constructed to study the volatility risk conta? gion of the exchange rate market of major Asian economies in different time dimensions from the per? spective of volatility spillover. The results show that from the static point of view，the volatility risk spillover network in the Asian exchange rate market presents the characteristics of“high clustering”and“geographical proximity，”with a certain correlation between currency exchange rate movements among major economies；from a dynamic point of view，the Fed′s interest rate hike will intensify the cross-regional exchange rate risk contagion in Asia，while its quantitative easing policy will ease the exchange rate risk contagion；on the whole，RMB is still a risk importer，and the source of risk con?tagion is mainly the exchange rate fluctuations of developed economies，including the Korean won，Singapore dollar，and New Zealand dollar。
The Impact of ESG Disclosure of A-share Listed Companies on Firm Value：APSM-based Empirical Analysis
LU Xiaolan，DONG Xinquan
2023, 40(6): 82-95. doi:
10.16387/j.cnki.42-1867/c.2023.06.008
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In the context of“dual carbon”goal，China has continuously improved its policies and practices in environmental，social，and corporate governance （ESG），and the impact of ESG information disclosure has attracted wide attention. Based on the data of 4345 A-share listed companies in 2022，this paper uses the propensity score matching（PSM）to study the impact of ESG disclosure behavior on firm value，and explores the mediating effects of market attention，enterprise risk，and financing cost in this impact；it also analyzes the heterogenous effect of ESG disclosure behavior on the enterprise value of different ownership，different scales，different industries，and different regions. The findings reveal that ESG disclosure behavior can significantly enhance enterprise value，and has a greater effect on enterprises with high values. ESG disclosure behavior mainly enhances enterprise value by increasing market attention and reducing enterprise risk. ESG disclosure behavior can more obvious improve the values of non-state-owned enterprises，large enterprises，and enterprises in eastern China，and there is no significant difference in improving the values of enterprises in different industries. The new perspective on the impact of ESG disclosure behavior provides empirical evidence for the impact， mechanism， and heterogeneity of ESG disclosure behavior on firm value. The following policy suggestions are put forward respectively：the government should institutionalize disclosure incentive and differentiate disclosure policies；the enterprise should pay attention to ESG disclosure and optimize asset portfolio；and the investor should fulfill social responsibility and have top-level planning.
Digital Economy，Resource Mismatch，and Carbon Productivity
GAO Guangkuo，WANG Mingzhu
2023, 40(6): 96-108. doi:
10.16387/j.cnki.42-1867/c.2023.06.009
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The prosperous digital economy has had a wide and far-reaching impact on every field of the economy and society. At present when high-quality development is the trend，it is particularly critical to study whether the digital economy can promote low-carbon development. Based on the research data of 30 provinces（autonomous regions and municipalities directly under the Central Government）in China from 2013 to 2020，this paper constructs a digital economy indicator system to discuss the impact of digital economy on carbon productivity and its mechanism from the perspective of resource mismatch；it has also conducted robustness tests and heterogeneity analyses. It is found that digital economy has a significant positive effect on carbon productivity，and has passed a series of robustness tests；digital economy can promote carbon productivity by optimizing the allocation of capital and labor factors；Heterogeneity analyses show that the effect of digital economy on carbon productivity in the eastern region is higher than that in the central region，while the effect in the western region is insignificant. Quantile regression results show that with the increase of carbon productivity，the impact of digital economy shows a progressive trend。
Discourse Mirroring in Ideological and Political Education：Markers，Media，and Resources
TIAN Ye，ZHOU Weiwei
2023, 40(6): 109-116. doi:
10.16387/j.cnki.42-1867/c.2023.06.010
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The Status Quo，Problems，and Countermeasures of Provincial Government’sImplementation of“Double Reduction”Policy：Analysis of Text Content from the Perspective of Policy Tool
WANG Yuanyuan ，PENG Jun
2023, 40(6): 117-128. doi:
10.16387/j.cnki.42-1867/c.2023.06.011
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