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Shen Keting 1, 2 and Gong Jianjian 1School of Economics, Zhejiang Gongshang University, Hangzhou, China 2Center for Studies of Modern Business, Zhejiang Gongshang University, Hangzhou, China   Abstract: Using directional distance function and nonparametric data envelopment analysis, this paper estimates the environmental ...

Lin Guangbin Chinese Institute for Actuarial Sciences, Central University of Finance & Economics, Beijing   Abstract: Historical analysis of the market economy indicates that soft budget constraint is becoming increasingly pervasive and broad-rooted. Using an analysis of micro-level entities in the market economy, ...