Vol 9, No 1 (Published)
Full Issue
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Open AccessOriginal Research Articles
Article ID: 800
Tax Cuts and Fee Reductions and Labor Demand of SMEsby Suwei Xiao
Financial Forum, Vol.9, No.1, 2020; 346 Views, 13 PDF Downloads
Policies to cut taxes and fees are important means to deal with the economic downturn, which strongly support to the development of the majority of small and medium-sized enterprises (SMEs). The current study has no consistent conclusion of whether SMEs expand their labor demand because of this. This paper builds a structural vector autoregressive (VAR) model to analyze the dynamic effects of tax cuts and fee reduction policies on increasing labor demand for SMEs. The empirical results show that tax cuts and fee reductions are important causes of short-term employment fluctuations, but in the long run, it is difficult for taxation policies to have a direct positive effect on employment. Therefore, this article puts forward the idea that different tax incentives can be formulated for small and medium-sized enterprises in the short term according to their life cycles. In the long run, the focus of macro-control needs to be turned to supply management to achieve the goal of stable employment.
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Open Access
Original Research Articles
Article ID: 831
Present Situation and Countermeasure of Camellia Oleifera Industry in Guizhou Provinceby Yang Long
Financial Forum, Vol.9, No.1, 2020; 238 Views, 6 PDF Downloads
Starting from the current situation of the development of camellia oleifera industry in Guizhou Province, China, this paper systematically summarizes the development advantages, and puts forward the countermeasures for further development. Moreover, it points out that camellia oleifera industry must strengthen the propaganda, put the promotion of science and technology in the first place, deal with a series of problems such as variety resources, planting technology, capital investment, low-yield forest transformation, and processing of camellia oleifera, so as to speed up the processing development of camellia oleifera industry in Guizhou Province.
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Open Access
Original Research Articles
Article ID: 807
Research on Payment Security under the Integration of New Media and E-Commerceby Yushui Xiao, Yujie Li, Yong Huang
Financial Forum, Vol.9, No.1, 2020; 236 Views, 12 PDF Downloads
With the popularization and development of the network, e-commerce is gradually integrated into the daily life of people, thus effectively promoting the transformation of the traditional production and living mode in China. As the core content, online payment is the foundation to ensure the smooth development of e-commerce. At the present stage, there are still some deficiencies, which has had a negative impact on the security of China's online payment. This paper analyzes and explores the security problems in the current online payment process of China, and puts forward targeted countermeasures to lay a foundation for the improvement of e-commerce security.
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Open Access
Original Research Articles
Article ID: 808
The Impact of Financial Liberalization on Economic Development: A Comparison Between China and Japanby Wenxuan Yang
Financial Forum, Vol.9, No.1, 2020; 273 Views, 9 PDF Downloads
According to the theory of financial liberalization, effective financial reform and moderate regulation of financial market can promote economic development. Taking China and Japan as examples, this paper analyzes some problems in the current financial liberalization reform of the two countries. Simulation scenarios about financial reform are then applied to China and Japan using the GTAP computable general equilibrium model of the global economy. The simulation results show that reducing investment barriers and improving the efficiency of capital use in the industrial sector can effectively promote the economic growth of China and Japan above levels that would otherwise be achieved. Improving the efficiency of the financial sector service delivery would have an additional positive impact on the economies of both countries, albeit small compared to measures that promote gains across all sectors.
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Open Access
Original Research Articles
Article ID: 811
The Impact of Financial Information on Noise Traders: Based on the Perspective of Behavioral Financeby Miao Jiang
Financial Forum, Vol.9, No.1, 2020; 237 Views, 14 PDF Downloads, 0 revised version Downloads
In China's incomplete stock market which mainly consists of retail games and short-term operations, both of the high stock turnover rate and P/E ratios reflect excessive noise trading. This article focuses on the characteristic that individual investors are susceptible to financial media information, combined with the development and characteristics of financial media. From the perspective of behavioral finance, this paper analyzes the impact of financial media on noise trading. Using behavioral finance and psychology-related knowledge, investor behavior can be better understood, so as the motivation behind noise trading. Finally, in order to promote the healthy development of the stock market, this paper makes recommendations to improve the efficiency of the capital market.
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Open Access
Original Research Articles
Article ID: 812
The Influence of Interest Rate Liberalization on Commercial Banks and Its Countermeasuresby Mengting Jiang
Financial Forum, Vol.9, No.1, 2020; 470 Views, 15 PDF Downloads
The liberalization of interest rate is an important part of the financial reform in China under the current economic situation, and it is the inevitable result of the economic development of China to a certain extent. With the deepening of interest rate liberalization reform in China, commercial banks have been affected to a certain extent; the deposit and loan spread, which accounts for the main income of commercial banks, has been narrowed, and the profit space of commercial banks has been further reduced. Therefore, this paper discusses the impact of interest rate liberalization on commercial banks and the choices that commercial banks should make under this situation.
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Open Access
Original Research Articles
Article ID: 817
A Study on the Effect of Fiscal Expenditure on Public Health and Residents' Satisfaction: A Case Study of Bengbu, Chinaby Kui Xing
Financial Forum, Vol.9, No.1, 2020; 177 Views, 6 PDF Downloads
In order to understand the effect of financial expenditure on the grass-roots public health services, the authors conducted a questionnaire survey on residents of Bengbu, Auhui Province. In addition, the weighted TOPSIS method is adopted to analyze the effect of financial investment in the grass-roots public health services from the perspective of residents, thus finding the problems in the grass-roots public health services. Finally, this paper puts forward some suggestions, such as increasing the financial investment in the grass-roots public health services, and improving the supervision and management mechanism of financial investment.
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Open Access
Original Research Articles
Article ID: 830
Risks and Preventive Solutions for Financing of Small and Medium Enterprises under Inclusive Financeby Dan Ma
Financial Forum, Vol.9, No.1, 2020; 458 Views, 4 PDF Downloads
In recent years, with the steady development of economy in China, small and medium-sized enterprises are an important part of China's economic industry, but their own characteristics make them have trouble getting financing. The emergence of inclusive finance has alleviated this situation, but there are still many problems in the financing of small and medium-sized enterprises. This article starts from the existing problems and actively discuss the way to solve these problems.
