Input substitution effect in China׳s chemical industry: Evidences and policy implications

This study is an attempt to determine the capital structure of listed firms in the chemical industry of Pakistan. The study finds that by studying a specific industry's capital structure, one can ascertain unique attributes, which are usually not apparent in the combined analysis of many sectors as done by Shah and Hijazi (2004). This study analyzed 26 of 39 firms in the chemical sector, listed at the Karachi Stack Exchange for the period 1993-2004 using pooled regression in a panel data analysis. Six regressors i.e. firm size, tangibility of assets, profitability, income variation, non-debt tax shield (NDTS) and growth were employed to examine their effects on leverage. The results show that these six independent variables explain 90% of variation in the dependent variable and, except for firm tangibility, results were found to be highly significant. The study has policy implications of importance for researchers, investors, analysts and managers.

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HUMAN CAPITAL AND ENERGY: A DRIVER OR DRAG FOR ECONOMIC GROWTH

The Singapore Economic Review ◽

10.1142/s0217590817500163 ◽

2017 ◽

Vol 65 (03) ◽

pp. 683-714 ◽

Cited By ~ 7

Author(s):

YOUNGHO CHANG ◽

ZHENG FANG ◽

SHIGEYUKI HAMORI

Keyword(s):

Economic Growth ◽

Human Capital ◽

Energy Use ◽

Physical Capital ◽

Substitution Effect ◽

The Philippines ◽

Cointegration Analysis ◽

Policy Implications ◽

Net Energy ◽

Long Run

This paper examines a causal relationship between energy consumption, human capital and GDP for the ASEAN-5 (namely, Malaysia, Indonesia, Thailand, Singapore and the Philippines) over the period 1965–2011. It differs from the existing energy-growth nexus literature greatly by taking into consideration the role of human capital across countries. Both the single-equation estimation and the Johansen’s cointegration analysis suggest the presence of a long-run relationship among these variables. The exclusion test finds that human capital is a crucial factor in the cointegration space as much as conventional inputs of physical capital; and energy seems to play a less important role when human capital increases, indicating a possible substitution effect between the two variables. Using the Toda–Yamamoto test, it finds no long-run Granger causal link between energy use and economic development in the two net energy-exporter countries Malaysia and Indonesia and the city state Singapore, while in the Philippines economic growth Granger causes energy use and in Thailand a feedback effect is identified. Based on these results, policy implications are drawn.

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The Electricity Rebound Effect: Empirical Evidence From the Chinese Chemical Industry

Frontiers in Energy Research ◽

10.3389/fenrg.2021.814888 ◽

2022 ◽

Vol 9 ◽

Author(s):

Houyin Long ◽

Hong Zeng ◽

Xinyi Lin

Keyword(s):

Chemical Industry ◽

Electricity Market ◽

Rebound Effect ◽

Electricity Price ◽

Policy Implications ◽

Chinese Government ◽

Cost Information ◽

Cost Share ◽

Electricity Cost ◽

The Government

The Chinese government has adopted many policies to save energy and electricity in the chemical industry by improving technology and reforming its electricity market. The improved electricity efficiency and the electricity reform may indirectly reduce expected energy and electricity savings by decreasing the effective electricity price and the marginal cost of electricity services. To analyze the above issues, this paper employs the Morishima Elasticity of Substitution of the electricity cost share equation which is estimated by the DOLS method. The results show that: 1) There exists a rebound effect in the Chinese chemical industry, but it is quite large because the electricity price is being controlled by the government; 2) the reform of the electricity market reduces the rebound effect to 73.85%, as electricity price begins to reflect cost information to some extent; 3) there is still a lot of space for the reform to improve, and the rebound effect could be reduced further once the electricity price is adjusted to transfer the market information more correctly. In order to succeed in saving electricity and decreasing the rebound effect in the chemical industry, the policy implications are provided from perspectives of the improved energy efficiency and electricity pricing mechanism.

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Input substitution in manufacturing for three LDCs: translog estimates and policy implications

Applied Economics ◽

10.1080/00036849108841065 ◽

1991 ◽

Vol 23 (1) ◽

pp. 209-218 ◽

Cited By ~ 5

Author(s):

Robert F. Mcnown ◽

Abbas Pourgerami ◽

Christian R. Hirschhausen

Keyword(s):

Policy Implications ◽

Input Substitution

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The Clinical, Roentgenological and Morphological Effects of an Acute Exposure of Phosgene on the Lungs of Dogs

Proceedings, annual meeting, Electron Microscopy Society of America ◽

10.1017/s0424820100065237 ◽

1971 ◽

Vol 29 ◽

pp. 236-237

Author(s):

R. F. Bils ◽

W. F. Diller ◽

F. Huth

Keyword(s):

Latent Period ◽

Chemical Industry ◽

Toxic Substance ◽

Lung Edema ◽

X Rays ◽

Beagle Dogs ◽

Male And Female ◽

Morphological Alterations ◽

Before And After ◽

Electron Microscopes

Phosgene still plays an important role as a toxic substance in the chemical industry. Thiess (1968) recently reported observations on numerous cases of phosgene poisoning. A serious difficulty in the clinical handling of phosgene poisoning cases is a relatively long latent period, up to 12 hours, with no obvious signs of severity. At about 12 hours heavy lung edema appears suddenly, however changes can be seen in routine X-rays taken after only a few hours' exposure (Diller et al., 1969). This study was undertaken to correlate these early changes seen by the roengenologist with morphological alterations in the lungs seen in the'light and electron microscopes.Forty-two adult male and female Beagle dogs were selected for these exposure experiments. Treated animals were exposed to 94.5-107-5 ppm phosgene for 10 min. in a 15 m3 chamber. Roentgenograms were made of the thorax of each animal before and after exposure, up to 24 hrs.

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