16th CNU-CCES Conference (2023.11.03)
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Datetime23-11-06 14:15관련링크
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The 16th CRD-CCES Joint International Conference, co-hosted by the CRD and China Center for Economic Studies, was held on November 3,
2023.
Local news outlets covered the conference.
Translated news article:
"Development: the Role of Market and Government" Seminar Successfully Held
On the morning of November 3, 2023, the 16th joint international symposium by Fudan National University and the Center for Regional
Development, Chonnam National University, was successfully held at the Graduate School of Economics, Fudan National University. The
forum, co-hosted by Fudan National University's China Center for Economic Studies (CCES) and the Center for Regional
Development, Chonnam National University, featured the theme " Development: the Role of Market and Government," with presentations of
the latest research results by four scholars from South Korea and China.
The lectures were divided into two parts, with the first part led by Mr. Zhao Chen, Deputy Director of Fudan National University's China
Center for Economic Studies. The impact of collateralizability on asset prices is a cutting-edge topic in the field of
financial economics. Due to data limitations and causality issues, empirical research on this topic is still lacking. Wang Yingchun from Fudan
National University's China Center for Economic Studies reported on the exogenous shocks of changes in the underlying asset
value of China's structural adjustment funds. They compared the relative price changes of leveraged and unleveraged funds, confirming the
causal effects of collateralizability on asset prices. According to the research, collateralized loans significantly increased asset prices, with the proportion of collateral value in asset prices reaching 6.4% on average at the leverage level. As leverage levels increased, the internal
collateral value ratio of asset prices also increased.
On the second part of the lecture, led by Sang-ho Lee of the Center for Regional Development, Chonnam National University: Voluntary
emission reduction goals by companies have become a crucial pathway for nations worldwide to achieve pollution prevention and control.
Chul-hee Park from the Center for Regional Development, Chonnam National University investigated the impact of the government's pollution emission tax and environmental protection subsidies on companies' emission reduction and production activities through the construction of a vertical market structure model. The theoretical model primarily included four entities: the government, upper-stream emission reduction
equipment manufacturers, lower-stream pollution companies, and final consumers. Lower-stream pollution companies assumed to set their
own emission reduction targets based on the government's environmental regulation intensity, either through competition or bidding.
According to the research, the optimal environmental policy design depends on whether the production activity of emission reduction
equipment is effective. If the production activity of emission reduction equipment is effective, a government seeking to maximize social
welfare should provide environmental protection subsidies to upper-stream emission reduction equipment manufacturers; otherwise,
the government should impose pollution emission taxes on lower-stream pollution companies. The latter part of the lecture, led by Sang-ho
Lee of the Center for Regional Development, Chonnam National University: The abolition of employment discrimination is an ongoing goal for government development. Wiroy Shin from Chonnam National University suggested that delegation issues could exacerbate discrimination
and, for the first time, constructed a model on how managerial employment discrimination in the delegation problem affects the owner's
interests. Wiroy Shin believes that providing incentives to reduce bias can most effectively reduce discriminatory decision-making by
managers without harming the company's profits. However, decision-making that maximizes the owner's interests may somewhat reduce the discretion of managers. At the same time, effective supervision is an effective way to improve distribution, but if supervision is too aggressive, it can lead to more unfairness.
Raising innovation potential has become a crucial issue worldwide. Using the example of China's pharmaceutical industry, Zhang Yen from
Fudan National University's China Center for Economic Studies discussed the policy shock of reforming the drug and medical device review
and approval system in 2015 to reduce administrative waiting times for new drug applications. According to the research, this reform
effectively promoted the increase in experimental new drug applications and overall innovation quality improvement. From the perspective of corporate composition, new entrants benefit more from this reform, enhancing the innovation of the pharmaceutical industry. Market
performance also showed a positive response to new drug applications after the reform.
During the lecture, teachers and students actively asked questions and engaged in lively discussions, gaining many benefits.
.
Link:https://mp.weixin.qq.com/s/znOsx3L7MrRZppaDt54EYA