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Article
Publication date: 14 January 2020

Naiwei Chen, Ho-Chyuan Chen and Shih-Yu Lin

Prior research mostly focuses on the effect of over-education on happiness, whereas the effect of under-education on happiness has received minimal attention. In addition, no…

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Abstract

Purpose

Prior research mostly focuses on the effect of over-education on happiness, whereas the effect of under-education on happiness has received minimal attention. In addition, no research to date has examined the effect of both over- and under-education on happiness by using a full spectrum of workers. Thus, the purpose of this paper is to fill this research gap.

Design/methodology/approach

The ordered probit model is estimated to examine the effect of the education–occupation mismatch on happiness based on 2012 survey data from Taiwan.

Findings

The results generally indicate that over-education positively affects happiness, whereas under-education has a minimal effect. The effect of the education–occupation mismatch on happiness also varies with different age groups. Specifically, over-education positively affects happiness except for workers aged 42 and above, whereas negative effects of under-education are found only among workers aged between 32 and 42 when their social network is insufficiently extensive. Moreover, a worker’s social network as a non-pecuniary factor, rather than income as a pecuniary factor, is a major channel through which education enhances happiness.

Originality/value

Given the limited and mixed evidence on the relationship between over-education and happiness, this study contributes to the existing literature by examining whether and how the education–occupation mismatch (over- and under-education) affects the happiness of workers both directly and indirectly via pecuniary and non-pecuniary factors. The research issue remains unexplored to date. Addressing such a question should help explain the persistent trend in pursuing higher education in Taiwan, although highly educated people may suffer from unemployment and an education–occupation mismatch.

Peer review

The peer review history for this paper is available at: https://publons.com/publon/10.1108/IJSE-04-2019-0283

Details

International Journal of Social Economics, vol. 47 no. 1
Type: Research Article
ISSN: 0306-8293

Keywords

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Article
Publication date: 7 August 2017

Naiwei Chen, Hao-Chang Sung and Jingjing Yang

This paper aims to examine whether and how ownership structure and corporate governance have bearings on the investment efficiency of Chinese listed firms.

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Abstract

Purpose

This paper aims to examine whether and how ownership structure and corporate governance have bearings on the investment efficiency of Chinese listed firms.

Design/methodology/approach

The authors measure the investment efficiency by following the work of Richardson (2006) and classify listed firms into two categories: state-owned enterprises (SOEs) and private firms. OLS regressions with both industry and year fixed effects are used to investigate the effect of ownership structure and governance mechanisms on the listed firms’ investment efficiency.

Findings

The authors find that ownership concentration has a negative impact on investment efficiency, and this effect is more pronounced in SOEs than in private firms. In addition, adoption of incentive-based compensation helps improve investment efficiency. Compared with other types of institutional investors, mutual funds are more likely to exert a positive effect on the investment efficiency of investee companies.

Originality/value

This paper examines the monitoring effect of governance mechanisms in China from a new perspective, which is the investment efficiency. Furthermore, previous studies provide minimal evidence indicating any effect of incentive-based compensation on firm performance in China. This study provides empirical evidence on this effect by using incentive-based compensation (whether CEOs have been granted stock options) as an explanatory variable in the regression models.

Details

Pacific Accounting Review, vol. 29 no. 3
Type: Research Article
ISSN: 0114-0582

Keywords

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Article
Publication date: 23 April 2020

Hui Hong, Zhicun Bian, Naiwei Chen and Chiwei Su

This paper aims to examine the impact of interest rate liberalisation on the constancy of mean interest rates in China to test the effect of financial reforms and provide…

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Abstract

Purpose

This paper aims to examine the impact of interest rate liberalisation on the constancy of mean interest rates in China to test the effect of financial reforms and provide strategies for future practices.

Design/methodology/approach

Bai and Perron’s (1998, 2003) methodology is used to test for structural breaks in the mean of different interest rates using Chinese data, and break dates are measured against the exact dates of the interest rate liberalisation. The performance of mean interest rates across the regimes defined by liberalisation dates is also investigated.

Findings

The main results show that interest rates generally increase (decrease) after deregulations on lending (deposit) rates, but these changes are not significant to induce a negative impact on the domestic economy. Instead, the infrequent but important shifts (structural breaks) in mean interest rates are caused by factors other than liberalisation such as economic shocks, inflationary expectation and liquidity crunch in China.

Originality/value

To the best of the author’s knowledge, this paper provides unprecedented evidence on significant changes in interest rates attributable to the liberalisation within the Chinese context.

Details

Journal of Financial Regulation and Compliance, vol. 28 no. 4
Type: Research Article
ISSN: 1358-1988

Keywords

Available. Content available
Article
Publication date: 7 August 2017

Jing Liao and Jing Chi

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Abstract

Details

Pacific Accounting Review, vol. 29 no. 3
Type: Research Article
ISSN: 0114-0582

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