Despite income inequality in China being a heated topic in scholarship and public discussion, little research has explored the trend in income inequality since the mid-2010s or focused on the implications of household assets on income inequality. Using pooled cross-sectional data from the Chinese General Social Survey, we estimate income inequality at the household level from 2012 to 2021 and further examine the effects of two types of household assets (housing assets (HA) and financial assets (FA)) on income inequality in urban China, as well as the moderating effects of socioeconomic status (SES) and regional marketization. The results indicate that national income inequality was sustained at a high level between 2012 and 2021, while income inequality in urban households was higher than that in rural households. Both HA and FA were positively related to income inequality, and the latter assets had a stronger effect on income inequality. The association between the two types of household assets and income inequality strengthened along with an increase in family SES and regional marketization levels. The study highlights that FA, relative to HA, are a more important contributor to income inequality among urban households, thus extending the literature on inequality and social stratification in contemporary China by revealing the causes underlying rising income inequality from the household assets perspective.

We revisit the classic policy-practice decoupling in institutional theory with a gender perspective. Employing data on 12,876 entrepreneurs in China, we find that male entrepreneurs tend to symbolically adopt governmentmandated models to obtain legitimacy, whereas female entrepreneurs tend to implement these models substantively. Furthermore, past work experiences in the government enhance male entrepreneurs' political knowledge and make them more likely to employ a symbolic adoption strategy. In contrast, current political statuses empower female entrepreneurs and reduce their tendencies to engage in substantive implementation. We contribute to women entrepreneurship and decoupling in entrepreneurial responses to the government in the context of emerging economies.

Enhancing the support for inclusive finance in county economies is crucial in achieving the strategic goal of building financial power. Drawing upon the theoretical lens of county-level inclusive financial accessibility, this study examines the effect of the migration experience (ME) of county socialites on their risky financial assets investment (FAI) and the underlying mechanisms. We utilize data sourced from the County Consumption Survey, a nationwide effort by the Department of Sociology of Tsinghua University and the 58 Tongzhen Research Group. Our findings reveal that the ME of county socialites significantly boosts their likelihood of engaging in financial markets. Furthermore, housing inequality factors, such as housing property rights and housing loans, play a moderating role in the impact of individual ME on their FAI. Additionally, the financial concept has a masking effect rather than a mediating effect on the path of the ME affecting FAI. Notably, the promotion effect of ME displays heterogeneity. Specifically, ME has a stronger positive effect on FAI among college-educated groups, members of the Communist Party of China (CPC), and urban hukou residents than on those who have not completed college education, non-CPC members and rural hukou households. In light of these findings, we propose policy recommendations to optimize the distribution of financial services, adjust the housing equality policy, and enhance inclusive financial literacy.

在县级层面,企业获得正规信贷的机会并不相同,而影响获取机会的一个潜在的重要因素是政治关系网络.探讨政治关系网络对县域创业者的正规信贷影响,有利于为推动县域经济高质量发展提供经验参考.因此,研究利用27省(直辖市)2513个县域企业的调查数据,考察县域创业者的融资模式以及政治关系网络对正规信贷的影响,研究发现:一是多数的县域创业者仍使用民间借贷这种非正规的融资渠道来获取支撑企业运营的资金,即县域创业者获得正规信贷的比例低于非正规信贷,但正规信贷在企业负债中的占比高于非正规信贷在企业负债中的占比.二是有政治关系网络的创业者更可能获得正规信贷,并且会扩大正规信贷在企业负债中的比重.三是创业者的性别、婚姻状态、政治性身份以及从事产业的类型亦会影响其正规信贷获得的可能性.基于此,政府应重视县域企业的融资困难问题,加快推进普惠性正规信贷市场建设,具体措施包括加大县域金融体制改革力度:完善信用评级体系;完善贷款担保机制;地方政府要适度发挥担保作用;适度推广互联网融资模式.

作为家庭资产主要来源的风险金融资产正成为家庭财富分化的重要机制.本文从阶层视角分析中国家庭投资风险金融资产的决策逻辑,通过对中国综合社会调查数据的分析,得到如下发现:在2010-2021年间,中国家庭在风险金融资产上的投资参与率长期维持在较低水平,并且投资决策存在两种阶层化逻辑,即阶层地位的提升和阶层地位向下流动都对投资风险金融资产具有正向影响,阶层地位变动所发挥的作用要强于当前阶层地位.进一步分析发现,阶层地位下降会通过降低社会公平感来促使家庭投资风险金融资产.这表明向下流动的家庭投资风险金融资产是一种补偿其阶层地位下降的非理性行为.本文不仅拓展了关于经济行为的社会分层研究,还可为决策部门引导公众理性参与金融市场,进而治理财富不平等问题提供经验参考.

Background: Household debt is a psychological stressor for those who take the debt on, but it remains unclear whether and how this money-related stressor influences children's psychological well-being. Aims: The study investigated the association of household debt with children's psychological well-being and further explored the mediating role of parent-child relations. Methods: Data were obtained from two waves (2016 and 2018) of the China Family Panel Studies, with a sample of 1,828 children included. The Center for Epidemiological Studies of Depression Scale was applied to measure psychological well-being. Household debt was assessed by absolute and relative amounts of total debt, mortgage debt, and non-mortgage debt. We used positive and negative parent-child interaction to measure parent-child relations. The characteristics of children, parents, and households were included as covariates. Results: Household debt, especially mortgage debt, was positively associated with psychological illnesses among children, and the link was substantially explained by parent-child relations. Conclusion: Household debt exerted detrimental effects on children's psychological well-being by jeopardizing parent-child relations in China. Strategies that address the need of vulnerable children are required to reduce the potentially negative psychological well-being outcomes of household debt.

推动党建优势转换为企业发展优势是私营企业党建工作持久开展的重要保证.在理论上阐释家族企业存在合法性与社会情感财富两种行动逻辑的基础上,利用2010-2018年"中国私营企业调查"数据,考察了设立党组织对家族企业经营活动的影响.结果发现,党组织对家族企业获取信贷资源和扩大投资均有激励作用.特别在党建工作力度大的时期,党组织的正向作用更加明显.进一步分析发现,信贷资源获取是党组织促使家族企业扩大投资的作用机制.在理论层面,该研究在拓展政治联系概念分析维度的基础上,从政治联系视角提供了党组织促进企业经营活动的新解释,并且完善了新制度主义对于组织正式结构运作逻辑的解释.在实践层面,应注意到党组织是提升家族企业生产力的有效治理机制,因而可以通过提高党建工作质量来构建政企协商机制,从而深化执政党与家族企业的互惠互信关系,最终取得巩固党的执政基础和促进企业可持续发展的双重效果.

企业家个人经历对企业的战略决策如创新投入有重要影响,然而现有研究极少关注企业家的出身或初始社会阶层.本文基于烙印理论和社会阶层领域研究文献,分析了企业家初始社会阶层对创新投入的影响.来自2014年全国民(私)营企业调查数据的实证检验显示:相比于非农民企业家,农民企业家在创新上投入更多.此外,企业家创业前的工作经历(销售工作vs其他工作)和企业内的员工培训投入显著调节了农民企业家的创新投入.研究表明:企业家的初始社会阶层会给企业家留下与所处阶层相对应的"烙印",塑造其风险偏好,进而影响其对创新活动的态度.

本研究基于对CGSS2015数据的实证分析,发现中产阶层比低社会经济地位群体更倾向投资金融产品以及购买商业保险.但中产阶层的金融投资行为也受到由其阶层特征所带来的多重社会经济压力的调节:有房产、未成年子女抚养负担较重的中产阶层,相对于低社会经济地位群体的金融投资参与优势会减小.然而,高社会经济地位群体相对于低社会经济地位群体的金融投资参与优势却不会受到房产和未成年子女抚养负担的影响.可见,社会经济压力对中产阶层金融投资行为的影响尤其显著.

In China's labor market, enterprises are allowed for some flexibility in deciding whether to provide "social insurance and housing fund" to laborers. This paper uses micro-data from two leading Internet recruitment platforms and finds that in a labor market with double-side information asymmetry, "social insurance and housing fund" serves as not only a cost but also a signal. Providing workers with "social insurance and housing fund", enterprises send a signal of stable operation to the labor market while identifying high-quality workers for enterprises. We further construct an instrument variable (IV) of local average social security payment rate, and show that the signaling effect remains significant after accounting for the endogeneity issue using IV regressions. In addition, "housing fund" has a stronger signaling effect than "social insurance". Heterogeneity analysis indicates that the strength of the two signaling effects is affected by the scale of the enterprises and the level of local payment rates. A theoretical framework capturing two micro-mechanisms — signaling and screening — is developed to fit our empirical findings. This paper provides explicit policy implications. It is suggested to strengthen the information disclosure and the propagation of social security payment, and further reduce the financial burden of enterprises.

Purpose This study aims to present multi-layered embeddedness and explore the main and interaction effects of political embeddedness on the performance of private enterprises in China. This study tests multi-layered embeddedness through interaction effects between three layers, namely, political, territorial and inter-firm embeddedness. Political embeddedness is related at the personal and the firm levels. Design/methodology/approach The authors used secondary data of four non-panel waves (2002, 2008, 2010 and 2016) of large samples having identical questions based on the Chinese private enterprises' survey. The accumulated number of business owners' responses is a total of 10,686. Findings The main effects of each of the layers of embeddedness showed a positive influence on enterprise performance consistently and unchanged over time which fits the Chinese Guanxi regardless of the immense macro-economic transition. However, unexpectedly some interactions showed negative significant effects on performance. Practical implications First, business owners should be aware of the specific contribution to the performance of political embeddedness at both the firm level and the personal level. Second, the pursuit of exercising simultaneously several layers of embeddedness may be detrimental to company performance. This study provides generalizable lessons regarding different embeddedness layers beyond the context of China's transition economy. Originality/value First, the authors extend political embeddedness to the firm level whilst in previous research this construct had been mostly related to the personal level. Second, building on the resource-based view and redundant resources the authors present the disadvantage of "over-embeddedness" as related to multi-layered embeddedness which has been understudied.

当前流动青年已成为流动人口的主力军,这一群体的社会融入对于提升城市劳动力水平和城镇化质量具有重要意义.本文旨在探讨包吃包住的雇佣方式对流动青年社会融入的影响,通过对2017年流动人口动态监测数据的分析发现:包吃包住使流动青年有更多可支配收入,进而增强其经济融合程度;包吃包住的流动青年在社会活动参与上更积极,然而这一雇佣方式阻碍了流动青年与本地居民的交往,不利于其文化和心理融入.本文揭示了包吃包住这一生活安排的差异化社会后果,并进一步提出政府和企业促进流动青年群体市民化的政策建议.

基于新制度主义与社会情感财富理论构建的分析框架,并利用"中国私营企业调查"多期数据和企业调研资料,考察和探析了设立党组织对家族企业维护职工权益的影响.研究结果表明,家族企业在员工社会保险上的投入显著少于非家族企业,但设立党组织有助于促使家族企业增加对员工社会保险的投入.这表明社会情感财富与合法性两种逻辑会同时影响家族企业在维护职工权益上的决策.此外,党组织作为一种重要的劳资关系协调机制,对引导家族企业维护职工权益具有重要作用.

ABSTRACTSince 2012, a large-scale Party branches building campaign intending to regain political influence in the private sector has been sweepingly promoted. Drawing on the Chinese Private Enterprise Survey conducted in 2008, 2012, and 2018, this study investigates private enterprises’ strategies in response to the intensified political pressure by integrating socioemotional wealth theory and neo-institutional theory. It is found that (1) private enterprises with high family ownership tend not to establish Party branches until political pressure is very high; (2) enterprises with high family ownership are more likely to adopt a decoupling strategy of evading the Party's political and social goals; and (3) the owners’ perceptions of a better market and legal environment weaken the negative effect of family ownership on the establishment of Party branches. These results reveal the key logic of preserving the socioemotional wealth and ‘embedded agency’ of Chinese private enterprises when they confront institutional legitimacy mandates. This study also sheds new light on the causes of the decoupling phenomenon and the dynamic interactions between institutional environment and organizational behaviors.

本文通过将中国私营企业调查数据与中国城市行政审批中心数据进行匹配,实证考察行政审批制度改革对民营企业处理行政纠纷的影响.研究发现,行政审批制度改革可以促使民营企业积极采取行动应对纠纷,并使其倾向于采取制度化策略.但政策效果存在异质性,具体表现是:经济实力弱、没有政治关联且处于高壁垒行业的企业从制度改革中获益更多.进一步分析发现,行政审批制度改革通过提升民营企业家对制度环境以及自身地位的感知,使其主动采取制度化策略应对行政纠纷.

本文利用"中国私营企业调查"数据考察了企业主对官方媒体的信任与企业投资决策的关系.研究发现:(1)信任官方媒体可以扩大企业的整体投资,但主要是对长期导向投资有促进作用.这一结论在处理了内生性问题和稳健性检验后仍然成立;(2)从影响机制来看,信任官方媒体可以降低企业家对环境风险的感知并提高对自身地位的感知,从而为制定积极的投资决策创造心理条件.本研究表明强化民营企业家对官方媒体的信任是激励企业投资的有效路径.因此,应进一步加强官方媒体传递政策信息的作用,缓解非市场因素导致的信息不对称问题,为扩大民营企业投资创造有利的信息环境.

融资是影响中小微企业发展的重要因素.通过对2020年全国县域企业调查数据的分析发现:(1)县域企业使用互联网融资的比例远低于民间借贷和银行信贷,并且互联网贷款在企业负债中的比例低于民间贷款和银行贷款;(2)有流动经历的创业者更可能使用互联网进行融资,并且会扩大互联网贷款在企业负债中的比重;(3)社会信任是流动经历影响县域创业者进行互联网融资的作用机制,即流动经历会通过提升县域创业者的社会信任水平,进而促使其使用互联网进行融资并扩大互联网贷款在企业负债中的占比.在当前中国的县域创业活动中,非正规信贷市场和正规信贷市场仍是创业者进行融资的主要渠道,流动经历是促使县域创业者进行互联网融资的重要因素,由此可得到以下方面的政策启示:第一,加快户籍制度改革,扫清县域居民进入和融入城市的制度障碍.第二,县域政府应为居民流动提供政策支持,降低个体流动成本.第三,县政府应积极落实国家关于返乡创业的相关规定,结合本地实际出台扶持政策,重点推动互联网融资体系建设,加强宣传力度,开展金融培训.第四,互联网融资平台应加强数据分析能力,精准投放贷款,强化客户贷后管理,降低借款人违约的风险.同时,应重视数据安全问题,改进算法,加强管理,保护用户隐私.

体育锻炼是一种重要的健康投资行为.本文考察了体育锻炼与青少年心理健康的关系,并从亲子关系的角度进行机制分析.对中国教育追踪调查2014-2015学年数据的分析发现:(1)体育锻炼对青少年心理健康具有促进作用;(2)亲子关系是体育锻炼提升青少年心理健康的重要机制;(3)体育锻炼对青少年心理健康的影响具有阶层差异性,具体表现为高阶层青少年可以从体育锻炼中获得更多的心理健康收益.本研究从心理健康的角度强调了体育锻炼对青少年发展的重要意义.此外,家长应对青少年的学习时间和体育锻炼时间进行科学分配,并且加强在青少年体育锻炼中的参与程度.

目的探讨体育锻炼对青少年学业表现的影响及其中介机制.方法利用中国教育追踪调查2013—2015年的数据,采用面板分层线性模型考察体育锻炼对青少年学业表现的影响,并通过结构方程模型和KHB法检验可能存在的中介机制.结果青少年每天的体育锻炼投入时间对其学业表现的影响呈倒U型曲线效应,每天体育锻炼时间45.6 min对学生文化课平均成绩的提升作用最大;多重中介效应分析结果显示,体育锻炼可通过降低负面情绪、增强同学间的互动、促进同学的积极行为、增强自信心等4种渠道提升青少年学业表现.结论结果支持了前人提出的"积极效应说",并非体育锻炼时间最多或极力压缩体育锻炼时间对学业表现收益最大,每天坚持合适剂量运动对青少年学业表现的促进效应最优.青少年的心理健康因子、同学积极行为、同学关系、对自己未来的信心是体育锻炼影响学业表现的重要中介机制,青少年BMI、每天睡眠时间等生理健康的中介机制效应未得到统计验证.