In term of time and space, economic changes are non-ergodic, reform speed and equilibrium is determined by the characteristics of time and space. The great achievements of China's gradual reforms are by no means accidental, time-space dependence and non-ergodic economic changes is consistent...

A wide range of financial distress has emerged in Chinese higher education sector, and this paper aims to explain it. We pointed out that soft budget constraint is the root cause of the financial distress; our main tasks are to identify the institutional causality of soft budget constraint and...

In the process of non-ergodic economic changes, path dependence and state dependence will become two main constraints of reform; this dependence determined the embeddeded structure of reform and its evolution. This article refined a theoretical framework for analysis reform on the...

This article modeled the soft budget constrains of higher education schools in the framework of Dewatripont & Maskin(1995). The main conclusion is that the prevalent university financial distress in China should be attributed to the soft budget constrains. From the model, the author conclude...

How different political market structures influence the behaviors of participants and the distribution of benefits was studied n the framework of game theory. Theoretical model showed that in the monopolized political market, the participation surplus of participants would serve as the rents of...

From the perspective of labor division and specialization, we explained the human capital attributes of language, and pointed out the human capital was depended on the acquisition of specialized organizational language which is the standard code system in the process of organizational...

Background The clinical value and cost-effectiveness of invasive treatments for patients with coronary artery disease is unclear. Invasive treatments such as coronary artery bypass grafting and percutaneous coronary intervention are frequently used as a starting treatment, yet they are much more...

Purpose – The purpose of this paper is to investigate the main determinants of consideration in China's non-tradable shares reform. The primary objective is to dig into the institutional factors that affect consideration in China's non-tradable shares reform. Design/methodology/approach –...

Purpose–The purpose of this paper is to investigate the main determinants of consideration in China's non-tradable shares reform. The primary objective is to dig into the institutional factors that affect consideration in China's non-tradable shares reform. Design/methodology/approach - The...