Investment In Fixed Assets Research Articles

Revisiting Tourism Development and Economic Growth: A Framework for Configurational Analysis in Chinese Cities

This paper comparatively analyzes the sufficiency and necessity of tourism’s influence on economic growth in different cities from a systematic configurational perspective. Two important time points in China’s tourism development, 2010 and 2019, are also considered in this paper to explore whether the impact of tourism on urban economic growth is temporally heterogeneous. The results demonstrate that tourism is not necessary for urban economic growth. However, the dependence on the tourism economy plays an important role in several urban economic growth patterns. Only one tourism-driven economic growth pattern exists, where tourism drives economic growth led by investment, and this pattern did not change significantly from 2010 to 2019. A tourism-driven low economic growth model also suggests that a high dependence on tourism leads to low economic growth. Two tourism-constrained low economic growth patterns exist: investment–industrial structure tourism-constrained and investment–innovation tourism-constrained. These two patterns indicate that economic growth rates are difficult to increase if the tourism economy is underdeveloped. In addition, tourism-driven or -constrained economic growth patterns have specific spatial clustering characteristics. This paper argues that tourism should actively seek foreign capital utilization and fixed asset investment, and also constantly reduce its independence and blur its industrial boundaries to better integrate or link with other industries to play its economic growth role. Furthermore, city policymakers should be fully aware of their own (tourism) resource endowment and the internal and external environment changes to choose a suitable economic growth model.

Are tax revenue recycling schemes based on industry-differentiated carbon tax conducive to realizing the “double dividend”?

Carbon tax policies based on industry differences can produce better emission reductions, but their economic losses have not been fully considered. To guarantee the fairness and economic effectiveness of the carbon emission reduction, this paper explores the policy impacts of revenue recycling schemes based on industry-differentiated carbon taxes using a dynamic CGE model. The findings show that revenue recycling schemes can effectively mitigate the negative macroeconomic and industry output impacts of industry-differentiated carbon taxes, but also affects their carbon reduction effects. The indirect carbon tax revenue recycling schemes are more beneficial than the direct recycling schemes in reducing GDP loss, and corporate income tax reduction is most effective in mitigating the reduction in fixed asset investment. The applicability of different carbon tax revenue recycling schemes varies across industries, and in general corporate income tax reduction and subsidies to clean energy industries are more beneficial to carbon emission reduction, and indirect carbon tax revenue recycling schemes that reduce residential and corporate income taxes can achieve stronger “double dividend”. This paper suggests that China should adopt a industry-differentiated carbon tax with a fair distribution of emission reduction responsibilities, while achieving a “double dividend” through appropriate revenue recycling schemes.

Does urban tourism development impact urban housing prices?

Purpose The purpose of this study is to investigate the relationship between tourism development and urban housing prices in Chinese cities. Specifically, the study aimed to explore whether there is a relationship between the two variables in tourist and non-tourist cities and whether there is a non-linear relationship between them. Design/methodology/approach In this study, the entropy method was used to construct the China City Tourism Development Index, which provides a more comprehensive measure of the level of tourism development in different cities. In total, 45 major cities in China were studied using the panel data approach for the period of 2011 to 2019. Findings The empirical analysis conducted for this study found that tourism development affects urban house prices, and that there is an inverted U-shaped relationship. However, this varies across cities, with house prices in tourist cities tending to be more influenced by tourism development than non-tourist cities. Also, foreign direct investment, population size, fixed asset investment and disposable income per capita were found to have an impact on house prices in both tourism and non-tourism cities. Originality/value There are significant differences in tourism development and urban house prices in different cities in China. This study considers these differences when examining the impact of tourism on house prices in 45 major cities in China by dividing the sample cities into tourist and non-tourist cities.

Monitoring Urban Expansion (2000–2020) in Yangtze River Delta Using Time-Series Nighttime Light Data and MODIS NDVI

The Yangtze River Delta Urban Agglomeration (YRDUA), which is located in the convergence zone of “The Belt and Road Initiative”, is one of the regions with the best urbanization foundations in China. Referring to the four five-year plans (China’s national economic plan), this study aimed to investigate the spatiotemporal patterns of urban expansion in the YRDUA from 2000 to 2020. To conduct a long-term analysis of urbanization, an extended time series (2000–2020) of a nighttime light (NTL) dataset was built from the multi-temporal Defense Meteorological Satellite Program’s Operational Linescan System (DMSP-OLS) data (2000–2013), and Suomi National Polar-Orbiting Partnership Visible Infrared Imaging Radiometer Suite (NPP-VIIRS) data (2014–2020); data from these sources are crucial to understanding the urbanization processes in the region in order for more effective decision making to take place. The support vector machine (SVM) method was used to extract urban clusters from the extended time-series NTL data and MODIS NDVI products. The evolution of the urban expansion intensity was detected at city scales, and the inequality of urban growth was demonstrated using the Lorenz curve and Gini coefficient. Finally, a quantitative relationship between urban NTL intensity and socio-economic data was built to explore the main factors that control urban intensity. The results indicated that the urban extents extracted from time-series NTL data were consistent with those extracted from Landsat data, with an average overall accuracy (OA) of 89%. A relatively fast urbanization pace was observed during the 10th five-year plan (from 2000 to 2005), which then declined slightly in the 11th five-year plan (from 2006 to 2010). By the 12th and 13th five-year plan (from 2011 to 2020), urban clusters in all cities tended to grow steadily. Urban expansion has presented a radial pattern around the main cities, with sprawl inequality across cities. The results further revealed that the primary factors controlling NTL brightness were gross domestic product (GDP), total fixed asset investment, tertiary industry, gross industrial output, urban area, and urban permanent residents in city clusters, but the same driving factors had a different contribution order on the NTL intensity across cities. This study provides significant insight for further urbanization study to be conducted in the YRDUA region, which is crucial for sustainable urban development in the region.

The Effect Of Working Capital Management And Fixed Assets Investment On Profitability (Study On Automotive And Component Companies Listed On The Indonesian Stock Exchange)

Purpose - This study aims to analyze the influence of working capital management and investment in fixed assets towards profitability. Design/methodology/approach - This research was implemented in the automotive and part companies listed on the Indonesia Stock Exchange for the period 2006 – 2014. The sample was taken using the method of purposive sampling. Eight companies were selected for a sample. Used multiple regression analysis as statistical method Finding - The results of the research show that CCC and AP have negative and considerable influence on ROA, AR have positive and not considerable influence on ROA, while IVR and FAT have positive and considerable influence on ROA. LVR as a control variable has a negative and not significant effect on ROA, while NPM has a positive and considerable influence on ROA Originality - Keyword - working capital management, investment in fixed assets, profitability, return on assets, cash conversion cycle, average collection period, average payment period, inventory conversion period, leverage, net profit margin. Paper Type – Research Paper

Can Local Government Debt Decrease the Pollution Emission of Enterprises?—Evidence from China’s Industrial Enterprises

The rapid growth of local government debt size in China has aroused the attention of academia and policy circles due to its impact on environmental pollution. This paper aims to explore the impact of local government debt size on corporate pollution emissions and its mechanism. This paper uses the China Local Government Debt Database, Industrial Enterprise Database, and Industrial Enterprise Pollution Database from 2006 to 2013, and adopts the two-way fixed effect model and difference-in-differences method to conduct an empirical analysis of industrial enterprises in 31 provinces of China. The results show that the local government debt size has a significant positive impact on corporate pollution emissions, and each unit increase in the local government debt size leads to an increase of 0.002 units in corporate pollution emissions. Further mechanism tests show that this effect is realized through the expansion of regional fixed asset investment and the reduction of enterprise R&D investment. In addition, there is significant heterogeneity among enterprises of different ownership, location, and industry. This paper provides practical references for local governments and micromarket actors to improve environmental protection and debt governance in the new era.

Change of urban and rural construction land and driving factors of arable land occupation.

Under the background of global urbanization, the continuous expansion and extensive utilization of urban and rural construction land has caused a large amount of arable land to be occupied, which seriously threatens national food security. This paper describes the spatio-temporal patterns of urban and rural construction land expansion and its occupation of arable land by using the urban and rural construction land expansion intensity, the urban and rural construction land expansion intensity difference index, and geo-detector model. It also explores the mechanisms through which the arable land was occupied. Results showed that construction land in both urban and rural areas expanded over the period 2009-2018 despite a large number of rural and urban migrants, and the major contributor to the rapid urbanization in China. This dual expansion could mainly be attributed to the tendency of these migrants to keep or even enlarge their rural construction land, which also resulted in a severer arable land loss than that caused by the expansion of urban construction land. Second, the rate of arable land occupied by urban and rural construction land in Henan province has been gradually slowing down, whereas the expansion of rural construction land is most dependent on arable land occupation. Third, according to the geo-detector model, the relationship between urbanization level and arable land occupied by urban and rural construction was the strongest, followed by the growth rate of fixed asset investment and the proportion of secondary and tertiary industries in GDP.

Changes to the Tariff Policies of the Electricity Distribution Segment And its Effects on the Economic Performance of Investments in Fixed Assets

Objective: This article discusses the effects of changes in electricity distribution regulation on the economic performance of fixed asset investments. Theoretical Framework: The analyses in this study are based on Ferreira's (2021) research conducted on a concessionaire's asset database, considering the period between two tariff cycles. Method: The methodology used in this study included the analysis of regulatory documents related to the 4th Tariff Review Cycle of a specific distributor, from April 2013 to May 2018. The analysis of these documents was conducted through organization and comparison of versions, based on continuous readings, following Ferreira's (2021) guidelines. Results and Conclusions: Although they can cause distortions in the evaluation and decision-making processes regarding investments, the regulatory changes analyzed in the research had a positive effect on the economic performance of the selected sample's assets. Research Implications: It was observed that regulatory changes are important for regulation to adapt to the reality and needs of the sector but can impair the evaluation and decision-making process regarding fixed asset investments in the electricity distribution segment in Brazil. Originality/Value: The research results emphasize the importance of concessionaires actively participating in public discussions proposed by the regulatory agency to carefully evaluate all possible consequences of regulatory changes for the economic performance of assets and the provision of public service.

Evaluation of Factors Found to Influence Urban Flood Resilience in China

As one of the most frequently occurring natural hazards, flooding can seriously threaten global security and the sustainable development of our communities. Therefore, enhancing the resilience of cities and improving their ability to adapt to flooding have become issues of great significance. This study developed a new comprehensive evaluation model of flood resilience that includes an evaluation index system from the basis of four key dimensions of social resilience, economic resilience, ecological environment resilience and infrastructure resilience. Firstly, interpretative structural modelling (ISM) was applied to analyze the structural issues affecting urban flood resilience. Secondly, the analytic network process (ANP) was then used to calculate the importance of these indicators. Finally, taking three cities (Zhengzhou, Xi’an, and Jinan) in the Yellow River Basin of China as examples, the Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) was used to evaluate their current levels of flood resilience using the findings from the earlier stages. The results show that the levels of rainfall and vulnerability of groups were the fundamental factors affecting urban flood resilience. Indicators such as average annual rainfall, fixed-asset investments, and emergency rescue capabilities were also found to have a greater impact on urban flood resilience. In the study area, Xi’an was found to have a higher level of resilience due to having strong ecological environmental resilience. These findings are expected to provide a useful reference for policymakers and stakeholders involved in the management of flooding events.

Scenario prediction of carbon peaking in China's logistics industry based on SVR

As a strategic, basic and leading industry for the development of China's national economy, the logistics industry shoulders the important mission of implementing the national "dual carbon" goal. It is urgent to keep up with the pace of the times and accelerate the green and low-carbon process of the logistics industry. Based on the relevant data from 1998 to 2020, this paper selects 8 indicators such as fixed asset investment in the logistics industry, freight turnover, passenger turnover, freight volume, the number of trucks, PM2.5 concentration and per capita GDP. The scenario analysis method is combined with the SSA-SVR model to establish a scenario prediction model for China's logistics industry's carbon peaking. The research results show that: under the baseline scenario, the carbon emissions of China's logistics industry will peak in 2047; under the low-carbon scenario, carbon emissions will peak in 2038; under the enhanced low-carbon scenario, carbon emissions will peak in 2029. 55.94 million tons. Combined with the trend analysis results under different scenarios, China should continue to strengthen the construction of the carbon trading market, optimize the industrial structure, and accelerate the progress of carbon peaking.

Urban land use eco-efficiency and improvement in the western region of China

This paper quantifies urban land use eco-efficiency (ULUEE) and explores its improvement in the context of western China. We propose a hybrid model that includes the Super-slack-based measure model (Super-SBM) and a varying co-efficient panel model using data from 11 provincial cities in the western regions of China from 2000 to 2018. The results show that overall ULUEE, pure technical efficiency and scale efficiency were ecologically inefficient. Meanwhile, ULUEE differences between cities mainly reflect different levels of pure technical efficiency. Further, the linkage between urban population density and ULUEE can be expressed in inverted-U and U-shape curves, and most cities' industrial development positively affects ULUEE, while most cities’ fixed asset investments negatively affect ULUEE. Moreover, land management institutions (LMIs) play a moderator role, shaping the main impacts of industrial development on ULUEE. Therefore, the findings suggest that improving ULUEE in the western region of China should focus on attracting inflows of highly skilled people, optimizing resource allocation, and guiding/regulating local government actions.

Analysis of Influencing Factors of Stock Return Rate in China

In recent years, the decline of China's stock market prices, as reflected in the decline of the Shanghai Composite Index and Shenzhen Composite Index in the late 2020s, has led to an economic downturn in China. The article analysis the statistics from 2016 to 2021 and introduces the possible reasons and political background and the reasons why these factors lead to the share value. Through the method of linear regression, the possible factors were simulated on the statistical system SPSS, and a more reliable data conclusion was obtained. To analyze the causes of the economic downturn by factoring the relationship between the consumer consumption index, per capita GDP growth, Gini coefficient, the Exchange rate of RMB against the US dollar, and the Shenzhen Index. In addition, it focuses on the impact of real-life factors on the stock market, focusing on the relationship between fixed asset investment, Hong Kong factors, the economic cycle, and the stock market.

Whole-process Engineering Consulting Services¬ Research on Evaluation of Competence - Nantong Jianchen Engineering Consulting Co., LTD

At present, with the continuous rapid growth of China's fixed asset investment and the gradual improvement of project construction level, the relatively independent, single and fragmented special consulting mode has been unable to meet the needs of investors or construction units of high quality, high efficiency and low price, and the demand for comprehensive, cross-stage and integrated consulting services is increasing. At the same time, in order to accelerate the development of whole-process engineering consulting services at the government level, relevant departments have issued a series of supporting documents and actively carried out pilot work of whole-process engineering consulting. In this context, this paper takes the whole-process engineering consulting capability evaluation as the research objective, in order to help enterprises find the optimal path for the development of whole-process engineering consulting services. Taking Nantong Jianchen Engineering Consulting Co., Ltd. as an example, this paper firstly introduces the background of the whole process of engineering consulting, and points out the purpose and significance of this research. At the same time, the relevant literature is reviewed and reviewed, and then the ability evaluation system of the whole process engineering consulting service of Nantong Jianchen Engineering Consulting Co., Ltd. is constructed, and the data collected by the questionnaire is analyzed and summarized by this system. Finally, the core improvement strategy of the whole process engineering consulting service of Nantong Jianchen Engineering Consulting Co., LTD. According to the above evaluation results and combined with the actual situation of Nantong Jianchen Engineering Consulting Co., LTD., the corresponding countermeasures for the development of the whole process engineering consulting service are given.

An Attempt to Demonstrate the Significant Role Played by Institutional Change in China's Sustained Economic Growth

During China's reform and opening, the Renminbi exchange rate mechanism has undergone several modifications. It has steadily moved from an early fixed exchange rate regime to a market-determined, managed floating exchange rate system. At various periods, each stage of reform has contributed to China's economic growth. The purpose of this study is to examine, from the perspective of the reform of the Renminbi exchange rate regime, whether the change in the Renminbi exchange rate regime has impacted China's sustained economic progress. Using the theoretical system of national income accounting and the multiple linear regression model, the information includes data on gross domestic product (GDP), the real effective exchange rate of the Renminbi, social fixed asset investment, population consumption level, and import/export balance from the China Statistical Yearbook 2006-2021. Then, it is concluded that this institutional change contributes significantly to China's sustained economic growth, and reform ideas for China's institutions are presented.

Analysis of the Spatio-Temporal Evolution, Influencing Factors, and Spillover Effects of the Urban–Rural Income Gap in Chongqing Municipality, China

In addition to being necessary for the stability, coordination, and sustainable growth of the national economy, narrowing the urban–rural income gap is also an “Important national matter” for the long-term security of the nation. “Big mountain areas, big cities, big reservoir areas, big rural areas, and ethnic areas” are all present in the municipality of Chongqing. All of the poverty-stricken counties have been lifted out of poverty, despite the promotion of targeted poverty alleviation and other policies, significant urban–rural income gaps remain. In view of the current research, there has been no in-depth discussion on the correlation between urban and rural income gap and poverty levels in various regions, and there has been no in-depth discussion on the spatial correlation and spillover effects of various influencing factors. This paper employs panel data from 2010 to 2021 for 37 counties in Chongqing; based on an analysis of the characteristics of the urban–rural income gap’s spatial pattern and spatio-temporal evolution, it classifies each county (city and district) as either a non-poverty or poverty-stricken county and uses spatial econometric models to conduct an in-depth study of the influencing factors and spillover effects of the urban–rural income gap in Chongqing. The outcomes of our analysis of the influencing factors reveal that the level of fixed assets investment, the per capita spending of public funds, the proportion of rural employees, the proportion of grain sowing, the amount of agricultural fertilizer applied per unit area, the proportion of real estate development investment, and population density variables are important causes of the URIG in Chongqing. The spillover effects of these factors vary between poverty-stricken and non-poverty-stricken counties. This paper aims to provide reference to policymakers to design measures to narrow the urban–rural income gap and advance the urban–rural coordinated development strategy on the basis of a thorough examination of the spatial and temporal evolution, influencing variables, and spillover effects of the urban–rural income gap in Chongqing.

Did place-based industrial policy promote regional economic growth? ---- Evidence from China.

Whether the place-based industrial policy promotes regional economic growth is a hot issue in the field of regional industrial economic practice. As a major national strategy in China, the Beijing-Tianjin-Hebei industrial coordinated development policy has been implemented more than 8 years. Verifying its effect on regional economic growth and revealing the policy action path will help to further optimize the policy implementation process through feedback. In this paper, the policy effect and its differentiation are empirically studied from 'quality' and 'quantity' respectively by establishing a growth model using the Dual Differences method. The results show that the Beijing-Tianjin-Hebei industrial coordinated development policy improves total factor productivity by 2.26% in terms of 'quality', and reduces GDP growth rate by 4.65% in terms of 'quantity'. For the different region, the GDP growth rate increased by 1.28%, while total factor productivity decreased by 2.63% in Beijing, the GDP growth rate decreased by 3.17% and total factor productivity increased by 0.87% in Tianjin, and the GDP growth rate increased by 2.56% and total factor productivity increased by 1.58% in Hebei. The policy is mainly realized by fixed asset investment, capital deepening degree and enterprise scale expansion, while the effect of labor input, R&D investment and enterprise number is not significant. The policy is to give full play to the driving role of fixed asset investment such as "new infrastructure", increase investment in labor and research and development in the region, strengthen the construction of a competitive market environment, and stabilize the 'quality' and 'quantity' to further release policy dividends.

The crowding-out effect of zombie companies on fixed asset investment: Evidence from China

This paper attempts to investigate the relationship between zombie companies and normal companies' fixed asset investment. Our empirical research finds that zombies will crowd out the fixed asset investment of normal companies, and this result remains stable under many robustness tests. Heterogeneity analysis reveals that the crowding-out effect mainly exists in non-SOEs, companies with small tax contributions, and companies in light industries, while SOEs, companies with large tax contributions, and heavy industrial sectors are unaffected by zombies. It's also shown that zombie companies crowd out fixed asset investment by increasing financing constraints, raising financing costs and destroying the industry's competitive environment. We further find that improving the regional institutional environment can alleviate zombies' crowding-out effect. Overall, our paper enriches the research on zombie companies' negative impact on normal companies and emphasizes the importance of strengthening the construction of the institutional environment.

The Allocation Change of Rural Land Consolidation Type Structure under the Influence Factors of Different Geographical and Economic Development of China.

Land consolidation structure reflects land consolidation function, and studies about its spatio-temporal change and driving mechanism can serve for regional management and control land consolidation. At present, the analysis of regional differences, time changes, and driving factors of land consolidation type structure change is relatively lacking. Based on the data of provincial acceptance projects from 2000 to 2014, this paper analyzes the spatio-temporal change of rural land consolidation type structure in China, discusses the impact of relevant policies, and identifies the socio-economic driving factors in key regions by employing correlation analysis and the PLSR (partial least squares regression) method. The results showed that from 2000 to 2014, the proportional increase of land arrangement in China was significantly correlated with the proportional decrease of land reclamation (R2 = 0.93), and the proportional decrease of land development (R2 = 0.99) showed an obvious co-evolution pattern of increase and decrease; TILC (The area of land development/The area of land arrangement) decreased from 2.14 to 0.91 in 2002-2003. Since 2003, the dominant type of land consolidation in China has gradually changed from land development to land arrangement. However, the proportion of land development in QT (Qinghai-Tibet), JY (Jin-Yu), and FGH (Fujian-Guangdong-Hainan) areas is still more than 40%; the change of land consolidation type structure was influenced by policies, social and economic factors, such as urbanization rate, fixed assets investment, industrial proportion, and population density, and the regional difference was significant: the eastern section (JZS, Jiangsu-Zhejiang-Shanghai) is the industry proportion, the central area (HHAJ, Hunan-Hubei-Anhui-Jiangxi) is grain production and fixed assets investment, the western region (NW, Northwest China) has the urbanization rate, grain production, population density, and fixed assets investment. Land consolidation structure should be configured differentially in each region based on the identification of regional function orientation and comprehensive consideration of regional resource endowment and development needs and directions to improve the efficiency of land consolidation.

Sustainability of rural tourism in poverty reduction: Evidence from panel data of 15 underdeveloped counties in Anhui Province, China.

Based on the characteristics of underdeveloped areas, this paper selects the panel data of 15 underdeveloped counties in Anhui Province from 2013 to 2019 and uses the panel threshold model to empirically analyze the sustainability of rural tourism development. The results show that: (1) Rural tourism development has a non-linear positive impact on poverty alleviation in underdeveloped areas and has a double threshold effect. (2) When the poverty rate is used to express the poverty level, it can be found that the development of rural tourism at a high level can significantly promote poverty alleviation. (3) When the number of poor people is used to express the poverty level, it can be found that the poverty reduction effect shows a marginal decreasing trend with the phased improvement of the development level of rural tourism. (4) The degree of government intervention, industrial structure, economic development, and fixed asset investment play a more significant role in poverty alleviation. Therefore, we believe that we need to actively promote rural tourism in underdeveloped areas, establish a mechanism for the distribution and sharing of rural tourism benefits, and form a long-term mechanism for rural tourism poverty reduction.

Analysing the impact of collaborations between airlines and maintenance service company under MRO outsourcing mode: Perspective from airline's operations

The practice of Aircraft Maintenance Repair and Overhaul (MRO) outsourcing has changed airline companies' decision-making processes in both operational and tactical levels. Specifically, the aircraft heavy maintenance service provided by an independent maintenance service company alleviates airlines' fixed-asset investments and daily operations regarding maintenance. On the other hand, the fluctuations in MROs service capability, availability and service level also affect airlines' fleet management and daily operations if their maintenance demands cannot be met in a timely manner. In this regard, the impact of the collaborations between airlines and maintenance service company is investigated from the perspective of airline's operations, by studying the maintenance planning problem at operational level. Afterwards, to examine and investigate the impact of collaborations between the two parties have on airline's operational performance, aircraft maintenance routing problems under ‘airlines-service company’ non-collaborative and collaborative contexts are investigated and formulated. The computational results demonstrate the effectiveness of the MRO collaboration under outsourcing mode, in view of airline company's overall operational revenue and flexibility while carrying out maintenance routing for individual aircraft in its fleet.