Rong Kong, Yanling Peng, Nan Meng, Hong Fu, Li Zhou, Yuehua Zhang and Calum Greig Turvey
In this study, the authors examined demand-side credit in rural China with the aims of understanding attribute preferences and the willingness of farmers to pay for credit.
Abstract
Purpose
In this study, the authors examined demand-side credit in rural China with the aims of understanding attribute preferences and the willingness of farmers to pay for credit.
Design/methodology/approach
The authors implemented an in-the-field discrete choice experiment (DCE) using a D-optimal block (6 × 9 × 3) design applied to 420 farm households across five Chinese provinces (Shandong, Sichuan, Shaanxi, Jiangsu and Henan) in the summer and fall of 2018. The DCE included six attributes including the interest rate, term of loan, type of loan, type of repayment, type of institution and mobile banking services.
Findings
Conditional and mixed logit results indicated a downward sloping credit demand curve with variable elasticity across regions. Provincial willingness-to-pay (WTP) indicators suggested that farmers were willing to pay a premium for long-term ( 0.03–0.687%) and low collateral credit loans ( 0.79–2.93%). Also, four of five provinces indicated a preference for loan amortization rather than lump-sum payment. Interestingly, in comparison to the Agricultural Bank of China (ABC), only farmers in Shandong, Sichuan and Shaanxi indicated a preference for rural credit cooperatives (RCCs)/banks and the Postal Savings Bank of China (PSBC). Another quite surprising result was bank services, in our case, access to mobile banking did not appear to induce WTP for agricultural credit. While conditional and mixed logit regression coefficients were similar (and therefore robust), the authors found that there was substantial heterogeneity across attribute preferences on term of loan, type of loan and amortization. Preferences for type of lender and mobile banking were generally homogenous. This result alone suggested that lenders should consider offering a suite of credit products with different attributes in order to maximize the potential pool of borrowers. While there were some differences across provinces, farmers appeared to be indifferent to lenders, and it did not appear that offering banking services such as mobile banking had any bearing on credit decisions.
Research limitations/implications
This paper presents a first step in using in-the-field choice experiments to better understand rural finance in China. Although the sample size satisfies conventional levels of significance and rank conditions, the authors caution against attributing results to China as a whole. Different provinces have different institutional structures and agricultural growing conditions and economies and these effects may differentially affect WTP for credit. Although by all indications farmers were aware of credit, not all farmers, in fact a minority, actually borrowed from a financial institution. This is not unusual in China, but for these farmers, the DCE was posed as hypothetical. Likewise, the study’s design was based on a generic credit product typical of rural China, and the authors caution against making inferences about other products with different attributes and risk structures.
Social implications
This study is motivated by the rapidly changing dynamic in China's agricultural economy. With specific reference to new laws and regulations about the transfer of land use rights (LURs), China's agricultural economy is undergoing significant and rapid change which will require better understanding by policy makers, lenders and practitioners of the changing credit needs of farmers, including the new and emerging class of commercial farmers.
Originality/value
To the best of the authors’ knowledge, the authors believe that the result provided in this paper present the first use of in-the-field DCE and are the first to be reported in either the English or Chinese literature on rural credit product design.
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The purpose of this paper is to investigate the economic relationship with recent changes in China’s land use policy and rural development through innovation and entrepreneurship.
Abstract
Purpose
The purpose of this paper is to investigate the economic relationship with recent changes in China’s land use policy and rural development through innovation and entrepreneurship.
Design/methodology/approach
The first issue of economic importance is in understanding the market value of land use rights (LUR) transactions. To examine this, the authors build an argument around the idea of economic and marginal rents from Ricardo. The second issue relates to the extent by which deepening the rural financial landscape by allowing the mortgaging of LUR will promote and advance much needed entrepreneurial activity. To explore this issue, the authors draw on Schumpeter. The empirical contribution is based on a survey of 1,465 farm households in Gansu, Henan, Shaanxi and Shandong provinces.
Findings
In an endogenous Two-Stage Least Squares model, the authors find a positive and significant relationship between a willingness to mortgage LUR and entrepreneurship, which suggest that the new policy may well meet that objective. However, the authors do not find that entrepreneurs alone will have a willingness to mortgage LUR; non-entrepreneurs – traditional farmer types – would also be willing to mortgage LUR, but with a caveat that either group already has a disposition or demand for credit.
Originality/value
The value of the analysis is to provide an evidence to understand the market value of LUR transactions and to study the relationship between mortgage of LUR and entrepreneurial activity.
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Rong Kong, Calum Greig Turvey, Hira Channa and Yanling Peng
Based on a survey of 897 farm households, the purpose of this paper is to build a framework using cluster analysis to explain how farmers make decisions on joining group…
Abstract
Purpose
Based on a survey of 897 farm households, the purpose of this paper is to build a framework using cluster analysis to explain how farmers make decisions on joining group guarantee, and analyzes factors influencing their decisions using multinomial and binary Logit regressions.
Design/methodology/approach
The approach of combining cluster analysis with Logit regression is an innovative approach to survey assessment. In addition, by design the authors have identified the four mutually exclusive groups of borrowers combining Group Guarantee membership and actual formal borrowing.
Findings
An extremely important observation according to the data is that most farmers appear to be part of group guarantees only because they have to in order to get access to formal credit products. 87.21 percent of the people who belong to groups and utilize the formal credit products belong to this category because their lenders have made participation in groups compulsory for access to credit. This may ration farmers’ willingness to even apply for credit. It also indicates a preference on the part of older and more risk-averse respondents to avoid participation in group guarantees. Out of financial characteristics the total loan holdings appears to be the only significant indicator of participation in group guarantees. Furthermore the results indicate that informal and formal credit appear to be replaceable for farmers.
Research limitations/implications
The survey is confined only to the counties investigated. China is very diverse in its agricultural economies and many RCCs operate under different guidance and rules from those investigated here. Hence, while the authors can claim that the results are indicative, the authors cannot claim that they will hold generally.
Practical implications
Based on group guarantee loan mechanism and survey data analysis of 897 farm households, this paper analyzes influencing factors affecting farmers’ participation in group guarantees from microcosmic level, so as to provide some reference to further perfect micro credit operation mode and mechanism.
Social implications
The results indicate that the Group Guarantee mechanism, while beneficial to some, may not hold global appeal for Chinese farmers. In the future RCCs may want to consider alternative approaches to loan security than placing the burden of guarantee on farmers’ family and friends.
Originality/value
The approach of combining cluster analysis with Logit regression is an innovative approach to survey assessment. In addition, by design the authors have identified the four mutually exclusive groups of borrowers combining Group Guarantee membership and actual formal borrowing.
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Shan Jin, Xiaoxia Fu and Yanling Yan
Based on the resource-gain-development framework, this study aims to explore the mediating mechanism of work–family enrichment (WFE) and psychological distress, and the potential…
Abstract
Purpose
Based on the resource-gain-development framework, this study aims to explore the mediating mechanism of work–family enrichment (WFE) and psychological distress, and the potential positive effect of co-worker support, on employees’ work behaviour.
Design/methodology/approach
Data was obtained via a three-stage survey with 400 frontline employees from 13 distinct industries.
Findings
This study found that family-supportive leadership (FSL) has a positive impact on employees’ taking charge behaviour (TCB). WFE and psychological distress partially mediated the effect of FSL on TCB and WFE and psychological distress played a serial mediating role between FSL and TCB. Co-worker support positively moderated the relationship between FSL and WFE, TCB and psychological distress.
Research limitations/implications
Managers should consider the problems and difficulties that employees may encounter in completing their work tasks and performance and minimise the interference of non-work factors on employees’ work status. Organisations should also facilitate diversity training for managers to respond to employees’ work and life problems and display family support behaviour.
Originality/value
This study confirmed the role of FSL in WFE, psychological distress and TCB. The results can provide guidance for managers to motivate employees’ TCB.
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Yanling Wang, Qin Lin, Shihan Zhang and Nannan Chen
The purpose of this study is to empirically examine the cause–effect relationships between workplace friendship and knowledge-sharing behavior, from a static perspective…
Abstract
Purpose
The purpose of this study is to empirically examine the cause–effect relationships between workplace friendship and knowledge-sharing behavior, from a static perspective. Furthermore, it investigates the bi-directional relationship between the increase in both workplace friendship and knowledge-sharing behavior over same time periods, and also endeavors to identify whether there is a significant negative lagged effect of the increase in both workplace friendship on knowledge-sharing behavior, and vice versa, across time from a dynamic perspective.
Design/methodology/approach
The study conducts a three-wave questionnaire survey to test the research model. A latent change score approach was used to test the direct relationship between changes in workplace friendship and changes in knowledge-sharing behavior.
Findings
The findings reveal that knowledge-sharing behavior fosters workplace friendship and workplace friendship promotes the emergence of knowledge-sharing behavior. An increase in workplace friendship promotes an increase in knowledge-sharing behavior over same time periods. However, an increase in workplace friendship will lead to a lagged decrease of knowledge-sharing behavior across time, and vice versa.
Research limitations/implications
The time interval in this study is a little short to capture the full changes in workplace friendship. Some important control factors and mediating mechanisms are not included in the research model.
Practical implications
This study guides managers to focus on various motivators to better strengthen workplace friendship and knowledge-sharing behavior and to consider and effectively respond to the negative side of workplace friendship and knowledge-sharing behavior across time.
Originality/value
This study emphasizes the predictivity of one important interaction patterns, namely, knowledge-sharing behavior on friendship at the workplace, from a static perspective. This study also shows the benefits of an increase in workplace friendship for the development of knowledge-sharing behavior in the same time period. Furthermore, the study presents a counterintuitive finding when taking the lag effect into consideration in exploring the relationship between changes both in workplace friendship and knowledge-sharing behavior, and identifies a negative side of both when viewed over longer periods.
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Li Wang, Yanhong Lv, Tao Wang, Shuting Wan and Yanling Ye
The purpose of this research is to address the existing gap in the study of construction and demolition waste (C&DW) by focusing on its impact on human health throughout the…
Abstract
Purpose
The purpose of this research is to address the existing gap in the study of construction and demolition waste (C&DW) by focusing on its impact on human health throughout the entire life cycle. And this research provides a comprehensive assessment model that incorporates the release of gaseous pollutants and particulate matter during the whole life cycle of C&DW, thereby contributing to a more holistic understanding of its impact on human health.
Design/methodology/approach
The research was conducted in two stages. Firstly, the quantitative model framework of pollutants emitted by C&DW was established. Three types of pollutants were considered, namely nitrogen dioxide (NO2), sulfur dioxide (SO2) and inhalable particulate matter (PM10). Second, disability-adjusted life year (DALY) and willingness to pay (WTP) assessments were used to provide a monetary quantified health impact for pollutants released by C&DW.
Findings
The results show that the WTP value of PM10 is the highest among all pollutants and 8.68E+07 dollars/a, while the WTP value in the disposal stage accounts for the largest proportion compared to the generation and transportation stage. These findings emphasize the importance of PM10 and C&DW treatment stage for pollutant treatment.
Originality/value
The results of this study are of great significance for the management department to optimize the construction management scheme to reduce the total amount of pollutants produced by C&DW and its harm to human health. Meanwhile, this study fills the gap in existing research on the impact assessment of C&DW on human health throughout the whole life cycle, and provides reference and basis for future research and policy formulation.
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Shi Zheng, Pei Xu, Zhigang Wang and Shunfeng Song
The purpose of this paper is to discuss the evolution of the food traceability system in China, examine factors that affect consumers' perception of a food traceability system…
Abstract
Purpose
The purpose of this paper is to discuss the evolution of the food traceability system in China, examine factors that affect consumers' perception of a food traceability system, and determine their willingness to pay for having the system.
Design/methodology/approach
Beijing, one of the largest pork markets in urban China, was chosen and 400 consumers were randomly interviewed using questionnaires and finally a logistic model was employed to analyze consumers' willingness to pay for traceable pork.
Findings
The authors found that consumers' perception of pork traceability system is subject to a comparatively low level. Purchasing of traceable pork is affected by gender, self‐evaluation of health, awareness of the traceability system, concern about food safety, and the stochastic price willing to pay.
Originality/value
The paper is the first to quantify Chinese consumers' valuation for traceable pork and it helps pork producers and marketers understand consumers' willingness to pay a small premium of 4.5 RMB/kg (0.7 USD) for traceable pork. This finding has imperative policy implications that could help the government deal with the high cost associated with the use of a pork traceability system.
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Keywords
Jialiang Xie, Wenxin Wang, Yanling Chen, Feng Li and Xiaohui Liu
The purpose of this paper is to develop a novel interval Multi-Objective Optimization by a Ratio Analysis plus the Full Multiplicative Form(MULTIMOORA) with combination weights to…
Abstract
Purpose
The purpose of this paper is to develop a novel interval Multi-Objective Optimization by a Ratio Analysis plus the Full Multiplicative Form(MULTIMOORA) with combination weights to evaluate the employment quality of college graduates, where the criteria are expressed by interval numbers and the weights of criteria are completely unknown.
Design/methodology/approach
Firstly, considering the subjective uncertainty of the weights of the criteria, the interval best worst method (I-BWM) was present to determine the subjective weights of the criteria. Secondly, by the improved interval number distance measure, an improved interval deviation maximization method (I-MDM) was introduced to detemine the objective weights. In the following, based on the I-BWM and the improved I-MDM, a combination weighting method that takes into account the subjective and objective weights is proposed. Finally, a multi-criteria decision-making method based on the interval MULTIMOORA with combination weights is present to evaluate the employment quality of college graduates, and then a comparative analysis with some of the existing distance measures of interval numberswas conducted to illustrate the flexibility.
Findings
According to the data of the Report on Employment Quality of Chinese College Graduats released by Mycos Research Institute in 2016–2020 and 2021–2022, the proposed method was used to evaluate the employment quality of college graduates during the period before and after the COVID-19 epidemic. The results verify that the method is more reasonable because the subjective and objective weights of the criteria can be fully considered. Finally, the feasibility and practicability of the proposed method are further verified by varying parameters.
Originality/value
Present an evaluation method on the employment quality of college graduates based on the Interval MULTIMOORA with combination weights considering the subjective and objective weights. And the proposed method is proved that it can provide a more reasonable evaluation results. At the same time, it is verified that the feasibility and the practicability of the proposed method are affected by varying parameters in the paper.
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Hui Zhang, David Bourell, Yanling Guo, Xiaodong Zhang, Yu Zhuang, Yueqiang Yu, Kaiyi Jiang and Wasim M.K. Helal
A pine/co-PES composite (PCPES composite) was proposed as the feedstock for powder bed fusion (laser sintering, LS). This paper aims to provide some necessary experimental data…
Abstract
Purpose
A pine/co-PES composite (PCPES composite) was proposed as the feedstock for powder bed fusion (laser sintering, LS). This paper aims to provide some necessary experimental data and the theoretical foundation for LS of pine/co-PES, especially for the application of using the laser-sintered pine/co-PES parts as complex structural patterns in investment casting.
Design/methodology/approach
The PCPES composites with different pine loadings were mixed mechanically. The composite’s preheating temperature and processing temperature during LS were determined experimentally based on the material’s thermal behavior. The effects of pine powder on the binding mechanism of PCPES composites were discussed through analyzing the microstructure of the laser-sintered parts’. Mechanical properties and dimensional precision of laser-sintered PCPES parts in different pine loadings were tested, and the parts’ mechanical properties were strengthened by wax-infiltration post-processing. The influence extents of process parameters on the mechanical properties of laser-sintered 20 Wt.% pine/co-PES parts were investigated using a 1/2 fractional factorials experiment.
Findings
20 Wt.% pine/co-PES is considered to be a promising wood-plastic composite for laser sintering. The relationship between mechanical strength of its laser-sintered parts and process parameters was built up using mathematical formulas. Experimental results show density, tensile strength, flexural strength and surface roughness of laser-sintered 20 Wt.% pine/co-PES parts are improved by 72.7-75.0%, 21.9-111.3%, 26.8-86.2%, 27.0-29.1% after post-process infiltration with a wax. A promising application of the wax-infiltrated laser-sintered parts is for investment casting cores and patterns.
Research limitations/implications
The proper process parameters and forming properties of laser-sintered parts are limited to the results of laser sintering experiments carried on using AFS 360 rapid prototyping device.
Originality/value
This investigation not only provides a new feedstock for laser sintering with the advantages of low cost and fabricability but also uses an advanced technique to produce personalized wood-plastic parts efficiently. Mathematical models between mechanical properties of laser-sintered PCPES parts and LS process parameters will guide the further LS experiments using the 20 Wt.% pine/co-PES composite. Besides, the laser-sintered PCPES parts after wax-infiltration post-processing are promising as complex structural patterns for use in investment casting.