In the context of the slowing growth of the real economy and the rapid development of the financial industry, more and more non-financial companies are participating in the financial industry for the purpose of development and profit expansion. China has gradually appeared the phenomenon of corporate financialization. This paper uses the panel fixed effect model empirically examines the effect of political turnover on corporate financialization by using data of listed companies and top prefecture level officials in China between 2007 and (...) 2020. We find that the turnover of mayors significantly decreases corporate financialization, while the turnover of party secretaries has no impact on corporate financialization. Moreover, these results are moderated by the characteristics of government officials and firm’s characteristics. Our results further show that changes by mayors increase fixed asset investment and decrease cash holdings, and, thus, reduce corporate financialization. These findings could assist in solving the “from real to virtual” problems, strengthening financial services, and realizing high-quality economic development. (shrink)

Within the context of China, this study seeks to examine the relationship between English language proficiency, the native dialect of the learner, and the learner’s reason, or motivation for learning English. English language proficiency can be an important vehicle for accessing high quality higher education, for interacting with non-Chinese, and for enhancing employment and career opportunities Data was gathered through an online survey with 985 usable responses recorded. Respondents included a distribution of speakers from five of the major distinct dialects (...) of China. The analysis provides empirical evidence of a diversity of propensities and motivations for English language acquisition among learners from different regions and native dialects. Access to international higher education as a type of motivation is found to have a moderating effect on English proficiency. Other findings suggest that learners in regions with more historic exposure to foreign interaction are more likely to be motivated for social reasons, those from regions with export focused commerce will be motivated for business related reasons. The results of this study may be of interest to policy makers, linguists, educators, and those with an interest in socioeconomic sustainability through language acquisition and education as a method of socioeconomic mobility. (shrink)

With the advancement of China’s economic transformation, the impact of economic policy uncertainty on family firms has become increasingly significant. The “familism” of family firms makes them more motivated to maintain family harmony, pursue innovative activities, and the long-term development of enterprises when faced with economic policy uncertainty. In this paper, we employed the data of listed Chinese family firms from 2010 to 2018 to analyze the impact of economic policy uncertainty on family business innovation activities, analyze the inherent characteristics (...) of family firm innovation, and find the path that enables the innovative activities of family firms and provides a valuable experience for the innovation of private enterprises in economic policy uncertainty. We provide evidence that economic policy uncertainty positively relates to family firm innovation. Moreover, the relationship is affected by factors such as directors’ executive background and access to state-owned equity. Further analysis indicates that economic policy uncertainty can promote family firms’ innovation activities by improving their risk-taking, internal capital market circulation, and reducing political connections. (shrink)

Learning burnout is an important indicator that reflects an individual’s learning state. Understanding the influencing factors and mechanism of learning burnout of medical students has practical significance for improving their mental health. This study aimed to explore the mediating roles of school identity and collective self-esteem between school psychological environment and learning burnout in medical students. A total of 2,031 medical students were surveyed using the School Psychological Environment Questionnaire, School Identity Questionnaire, Collective Self-esteem Scale, and Learning Burnout Scale. The (...) results showed the following: school psychological environment had a negative effect on learning burnout among medical students, and school identity and collective self-esteem played significant mediating roles between school psychological environment and learning burnout [95% CI = ]. Specifically, there were three paths that school psychological environment and learning burnout: first, through the independent mediating role of school identity; second, through the independent mediating role of collective self-esteem; and third, through the chain mediating roles of school identity and collective self-esteem. The findings reveal that school psychological environment not only directly influences the learning burnout of medical students but also indirectly influences it through school identity and collective self-esteem. Thus, this study has some important implications for prevention and intervention of learning burnout among medical students. (shrink)