Parental Education and Wages: Evidence from China

Using nationally representative data in China, we find substantial positive partial correlations of both parents' education with one's wage. In addition, returns to father's education are higher in more monopsonistic and less meritocratic labor markets, including non-coastal regions, the state-owned sector, and the early periods of the reform era. The opposite is, however, true with respect to mother's education. Overall, the empirical evidence is consistent with the story that father's education mainly indicates family connections useful for locating a better-paying first job, while mother's education primarily captures unmeasured ability.parental education, wages, family connections, unmeasured ability

Is collective financing feasible for small and micro-sized enterprises? An evolutionary game analysis of the credit market in China

With regards to the evolutionary game model of collective financing between commercial banks and small and medium-sized enterprises (SMEs), the self-guarantee mechanism formed within the enterprise group is taken as the research background in the paper. Under the circumstances of mortgage assets and unsecured assets, the changing trend of the strategies of both sides in the process of collective financing is made a discussion respectively. Followed by the evolutionary game, it is concluded that under the stable management strategy, commercial banks will offer different loan strategies (collective or separate) after comprehensively judging the repayment probability of enterprises. For SMEs, loans at a reasonable rate can prompt them to pay them back on time, how- ever, high loan costs can lead to the possibility of total financing default and the adverse circumstances of risk diffusion. More importantly, collective financing of unsecured assets does not increase the bank’s credit risk, while not only can it help banks reduce the cost of loan review, but also alleviate the problem of information opacity in SMEs, prevent the occurrence of default risk and reduce the threshold for enterprises to obtain funds and also provide a new way to solve the financing problems of SMEs

A class of monotonicity-preserving variable-step discretizations for Volterra integral equations with completely monotone kernels

The time continuous Volterra equations valued in $\mathbb{R}$ with completely monotone kernels have two basic monotone properties. The first is that any two solution curves do not intersect if the given signal has a monotone property. The second is that the solutions to the autonomous equations are monotone. The so-called CM-preserving schemes (Comm. Math. Sci., 2021,19(5), 1301-1336) have been shown to preserve these properties but they are restricted to uniform meshes. In this work, through the an analogue of the convolution on nonuniform meshes, we introduce the concept of ``right quasi-completely monotone'' (R-QCM) kernels for nonuniform meshes, which is a generalization of the CM-preserving schemes. We prove that the discrete solutions preserve these two monotone properties if the discretized kernel satisfies R-QCM property. Technically, we highly rely on the so-called resolvent kernels to achieve this

A smart performance measurement approach for collaborative design in Industry 4.0

Industry 4.0, the fourth industrial revolution, focuses on intelligent and smart manufacturing. This article investigates a smart design performance measurement approach, which can be utilized to support performance measurement implementation during a collaborative design process. First, we develop a smart product design framework with Industry 4.0 enabling technologies to support key design stages in an iterative fashion. Second, based on this framework, we propose a smart design performance measurement approach to potentially support a smart product design project management via its performance management. Third, we adapt our existing design performance measurement, for a traditional design environment into a smart design environment at its early stage to test its feasibility. This approach features integration of a flexible performance measurement setup, a multi-feedback design performance measurement mechanism and a multiple design performance measurement results presentation which allows the design performance measurement approach to produce flexible and customized operations by connecting design performance measurement with the stage-based design objectives, balancing design performance measurement feedbacks through interoperability between collaborative design team members and providing real-time design performance measurement results to guide design activities. An empirical industrial evaluation case study indicates that the proposed design performance measurement approach can support design team members in improving their collaborative design performance