国有企业双重目标与投资效率改进——基于独立董事网络和国企混改视角

立足国有企业具有社会和经济双重目标的理论逻辑,本文选取2007~2016年A股国有上市公司作为研究样本,分析了独立董事网络和国有股比例对投资效率的影响以及调节效应。研究发现:独立董事网络降低了国有上市公司的投资效率,较高比例的国有持股抑制了投资效率,但当国企更加关注经济目标时,则有助于改善投资效率;进一步研究发现,相比于特定功能类企业,独立董事网络在商业竞争类企业中发挥投资效率的改善作用更加显著。因此,独立董事应因地制宜在国企中发挥治理作用;政府应分类推进国企混合所有制改革;竞争性国企应引入较大比例的优质民营资本,优化投资决策、提高投资效率。     

民间资本如何进入经营性基础设施

我国目前处于经济高速发展期,基础设施的不足对于经济发展的弊端逐渐显露出来。然而在国家财政能力有限的背景下,民间资本对于弥补政府投资不足,推动实体经济发展有着非常重要的作用。本文借鉴西方发达国家的PPP模式,对经营性的基础设施提出相应的路径。     

Estimating the benefits of effectively and proactively maintaining infrastructure with the innovative Smart Infrastructure sensor system

An innovative sensor system, designated ‘Smart Infrastructure,’ is being developed jointly by Cambridge University in the United Kingdom and Massachusetts Institute of Technology in the United States. This system provides real-time wireless information about the state of critical infrastructure. The Smart Infrastructure sensors are designed to monitor infrastructure, such as water pipelines, as well as to increase their capabilities for purposes of efficient maintenance. This paper presents a forecasting model that assesses the possible impacts of Smart Infrastructure technology currently being applied to the British water pipe market. In doing so, we identify key benefits of proactively managing infrastructure with such new technology. A probabilistic cost benefit analysis, which takes into account future uncertainty, is conducted using a Monte Carlo simulation. Our findings suggest that if the Smart Infrastructure sensor system is applied to water pipelines in the British market, there are likely to be significant economic benefits. They could be realised by avoiding disruption and damage costs (including water loss) due to water pipe bursts, as well as by reducing annual operating and maintenance costs. The mean cumulative net present value of savings derived from the case scenario for the period through year 2056 was estimated at US$ 23.7 billion.     

Public infrastructure,input efficiency and productivity growth in the Canadian food processing industry

Canadian food processing is an important manufacturing industry, accounting for 13 percent of shipments. By its nature food processing depends on infrastructure capital. Our objective is to estimate infrastructure’s effects on input requirements, cost and productivity. The increase in capital and decrease in materials were respectively 2.5 and 3 times greater than the −0.07 infrastructure elasticity of labor. Infrastructure investment was cost-reducing by inducing reductions in employment and intermediate inputs. A 1 percent increase caused cost to decline by 0.16 percent. Infrastructure capital was a major contributor to productivity, annually contributing 0.5 percentage points. This was nearly double TFP growth.      

我国人力资本地区分布差异与经济增长差异同步性分析

许多研究表明,区域人力资本对区域经济增长具有正面的影响,并且人力资本对经济增长的贡献远远大于物质资本的作用[1][2]。这些都能表明,人力资本能促进经济增长,是经济增长的主要动力之一,其对经济增长的作用正在不断加强[3][4]。本文通过构建人力资本模型对我国人力资本地区分布差异与经济增长差异进行同步性分析,得出我国人力资本地区分布差异与经济增长差异存在一定程度上的同步性这一结论。     

中小型合资企业非生产性员工培训系统构建──以H公司为例

中小型合资企业已在我国经济发展中起到重要作用,企业中非生产性员工的智力资本则是现代企业发展的重要因素之一。而我国很多中小型合资企业在快速成长的同时忽视了企业员工潜力的有效开发,这直接影响企业未来发展。因此,唯有通过建立有效的员工培训系统,才能长久保持企业活力。     

The Violence of Abstract Space: Contested Regional Developments in Southern Mexico

The article proposes a reinterpretation of Henri Lefebvre's concept of abstract space, emphasizing the significance of the ‘violence of abstraction’ within the concept itself, and within the concrete process of the capitalist production of space. This interpretation of abstract space is developed through the case of the Plan Puebla Panama (PPP) as an ‘actually existing’ abstract space. Launched in 2001 and abandoned in 2008, the PPP was a regional development programme for southern Mexico and Central America, which aimed to transform this region from a peripheral zone of peasant agriculture and social unrest into a modernized node of the global economy through the construction of infrastructure networks and the restructuring of economic activity. Focusing on southern Mexico, I explore the symbolic, structural and direct forms of violence embodied in the PPP: its abstraction from the lived spaces of the region; its incorporation of the region into global circuits of capital; and its repression of a network of place‐based resistances.     

Relating economic infrastructure indexes to investor protection for selected emerging economies

This paper employs four indexes that capture economic infrastructure. Economic infrastructure refers to the quality of economic institutions that create an environment that may support productive activities and encourage capital accumulation. A second set of indicator variables used was related to investor protection, which includes rule of law, judicial efficiency, contract repudiation and expropriation risk. Multiple and single regressions were employed to find out whether economic infrastructure is associated with investor protection. The results are robust in that relationships hold well. Countries included for analysis were 17 market-oriented emerging economies.     

城市广化与城市深化对中国经济增长的影响

本文尝试把城市化进程分为城市广化和城市深化两个过程,并从劳动效率的角度,分析城市广化和城市深化对中国经济增长的影响.在二元经济理论框架下,将城市广化和城市深化统一于修正的卢卡斯人力资本增长模型,分别探讨了城市广和城市深化、劳动效率与经济增长之间的相互关系,最后利用1978～2009年间的时间序列数据进行了检验,实证结果...     

高速公路对陕西省经济发展影响的定量分析

高速公路所产生的社会经济效益是高速公路作为社会公共交通基础设施所具有的外部性特征的一种体现,对其作用和影响展开的研究和评价是高速公路网规划及建设项目决策的重要前提和依据。文章以高速公对路社会经济发展影响评价方法的一种(投入产出法)为基础,通过对直接效益、诱导效益、产出效益等效益贡献的测算,分析高速公路对陕西省经济发展的影响。     

The provision of public goods in a growing urban economy

The growth path of a mixed open urban economy is considered. In the private sector profit maximizing firms produce an all-purpose output with labor, capital and public infrastructure. Workers move between the urban area and the rest of the nation so as to increase their real income which is the sum of wages and income derived from the use of the urban infrastructure. The public sector determines infrastructure investments so as to maximize the current value of future per capita felicity. Infrastructure has public good characteristics and is used jointly by firms and workers. The urban growth path is derived and public sector policies are analyzed.     

Knowledge flow and inter-firm networks: The influence of network resources,spatial proximity and firm size

The objective of this paper is to analyse the characteristics and nature of the networks that firms utilize to access knowledge and facilitate innovation. The paper draws on the notion of network resources, distinguishing two types: social capital–consisting of the social relations and networks held by individuals; and network capital–consisting of the strategic and calculative relations and networks held by firms. The methodological approach consists of a quantitative analysis of data from a survey of firms operating in knowledge-intensive sectors of activity. The key findings include: social capital investment is more prevalent among firms frequently interacting with actors from within their own region; social capital investment is related to the size of firms; firm size plays a role in knowledge network patterns; and network dynamism is an important source of innovation. Overall, firms investing more in the development of their inter-firm and other external knowledge networks enjoy higher levels of innovation. It is suggested that an over-reliance on social capital forms of network resource investment may hinder the capability of firms to manage their knowledge networks. It is concluded that the link between a dynamic inter-firm network environment and innovation provides an alternative thesis to that advocating the advantage of network stability.     

The impact of privatization and regulation on the water and sewerage industry in England and Wales: a translog cost function model

After the ten Regional Water Authorities (RWAs) of England and Wales were privatized in November 1989, the successor Water and Sewerage Companies (WASCs) faced a new regulatory regime that was designed to promote economic efficiency while simultaneously improving drinking water and environmental quality. As legally mandated quality improvements necessitated a costly capital investment programme, the industry's economic regulator, the Office of Water Services (Ofwat), implemented a retail price index (RPI)+K pricing system, which was designed to compensate the WASCs for their capital investment programme while also encouraging gains in economic efficiency. In order to analyse jointly the impact of privatization, as well as the impact of increasingly stringent economic and environmental regulation on the WASCs' economic performance, this paper estimates a translog multiple output cost function model for the period 1985–1999. Given the significant costs associated with water quality improvements, the model is augmented to include the impact of drinking water quality and environmental quality on total costs. The model is then employed to determine the extent of scale and scope economies in the water and sewerage industry, as well as the impact of privatization and economic regulation on economic efficiency. Copyright © 2000 John Wiley & Sons, Ltd.     

江苏供给侧结构性改革的金融支持政策研究

推进供给侧结构性改革,是适应和引领经济发展新常态的重大创新,是经济发展方式转变和经济结构战略性调整的关键。江苏省实施供给侧结构性改革还需要让市场在资源配置中发挥决定性作用,尤其是要发挥金融市场的力量,借助金融工具盘活金融资源,让资金从产能过剩领域流向供给不足领域。稳健运行的资本市场能够提供最直接的投资机会,及时分享供给侧结构性改革的成果,实现企业和家庭的财富创造。因此,拥有强大的资本市场、创造活跃的金融市场有助于江苏省经济转型的成功和创新能力的提升。     

FDI Location and Special Economic Zones in the Philippines

This paper analyzes the location behavior of foreign direct investments (FDIs) in the Philippines from 1987–1998 and points out the role special economic zones (SEZs) and infrastructure play in this location decision. The effects of real income, wages, skills, SEZs, highways and ports on the probability that a manufacturing FDI firm chooses a region are estimated using a negative binomial count model. Results yield expected signs and significant coefficients for all variables except for skills. Regressions were also run for 1987–1992 and 1993–1998 sub-periods to examine structural changes. The stark shift of investments from Metro Manila into other regions during the latter period shows some possible spillover effects of the SEZs as well as infrastructure development carried out in the previous transitional sub-period. Significant marginal effects are highest for paved highways and ports, which strongly indicate that improvement of these two regional factors increase the probability of FDI location.     

新时期云南热区消防监督工作存在的问题和对策研究

云南热区涉及全省15个州市85个县市区,总面积达8.11万平方公里,占全省国土面积的21.9%,占全国热区总面积的16.9%。热区是云南不可多得的资源优势,也是推动云南经济快速发展的重要支柱,必须结合不断变化、发展的消防工作实际情况,认真分析和研究热区消防工作的困难和问题,扎实推进构建热区社会消防安全＂云岭防火墙＂工程,全面推动热区农村消防安全工作持续、快速发展,落实农村消防工作责任制,加强农村消防基础设施和基层消防力量建设,改善农村消防安全条件,最大限度地预防和减少热区农村火灾。着力解决制约热区消防工作发展的普遍性问题,不断提高热区消防工作水平,推动热区消防工作向纵深发展。     

The determinants of capital inflows: Does opacity of recipient country explain the flows?

This paper examines the relationship between international capital flows and the opacity of recipient countries. We use the Price Waterhouse Coopers (PWC) [Price Waterhouse Coopers, 2001. The Opacity Index: A Project of the Price Waterhouse Coopers Endowment for the Study of Transparency and Sustainability] opacity index for the year 2000 and investigate its influence on three types of net international capital flows: foreign direct investment, portfolio capital and international bank lending. We find support for higher opacity leading to a reduction in capital inflows, in general. More interestingly, however, in some cases we find counterintuitive results of more capital flows when opacity relating to specific business climate increases—accounting and regulations for foreign direct investment flows, corruption and regulation for portfolio flows, and corruption and economic opacities for international lending flows. This may be because of potentially higher profit opportunities that may be present due to the greater role unofficial channels of investment practices play as these opacity indices rise. Also, we find international bank lending, in general, responded very differently from foreign direct investment and portfolio flows.     

基础设施建设与城市经济增长的关系

基础设施建设对促进城市经济增长具有实质性的重要作用.论述了基础设施投资促进经济增长的影响机制,并指出适应城市经济增长应选择最佳的基础设施发展模式,以及实现基础设施投资对经济增长的促进应满足的前提条件和所要采取的若干相应措施.     

江西大型企业资本运作模式的现状及其改进对策研究

资本运作是一种有效配置资源、实现企业资本增殖的活动,其核心是产权制度创新。本文对江西大型企业资本运作模式的现状进行了分析,进而提出了一系列的合理的改进对策,以期提高起运作绩效。     

基础设施REITs:中国REITs的新突破

中国的REITs仍然处于探索阶段,基础设施公募REITs试点的展开可视为一个重要的突破,必将对中国REITs的发展产生极为深远的影响。那么此次基础设施REITs有何特点?将会给中国经济发展带来哪些影响?对以后的基础设施建设特别是"新基建"又将产生怎样的影响?本期文章将从多个角度、多个层面分析和解答以上问题,以飨读者。