资本市场促进技术创新的效率研究——以西部地区为例

在运用Malmquist指数的基础上,笔者测量了我国西部地区12个省市资本市场促进技术创新的全要素生产率(TPF)、技术效率变化指数(TECH)以及技术进步率指数(TPCH),比较和分析了西部地区各省市资本市场促进技术创新的效率水平。运用12个省市的专利和资本市场融资面板数据建立回归方程进行验证,发现各省市资本市场在促进当地创新效率方面还不均衡;资本市场发展较好以及技术创新潜力较大、需求较高的地区,资本市场融资投入对技术创新的全要素生产率也较高。     

区域智力资本指标体系构建及其测度——基于湖北省12年数据的实证研究

本课题提出了一套区域智力资本的测度指标体系,继而以湖北省历史数据为样本,运用该指标体系对湖北省的区域智力资本水平进行了测度。在运用湖北省1995—2006年样本数据进行实证测度时,采用主成分分析的因子分析方法首先分别对区域智力资本的各个要素（区域人力资本、区域关系资本、区域结构资本和区域创新资本）进行了实证测度,最后采用加权平均法进行综合加权得到湖北省12年的智力资本水平。     

智力资本的概念、构成与披露模型

近年来,智力资本的概念越来越受到人们的关注,但有关于智力资本的研究尚不成熟,尤其是对智力资本的信息披露的研究课题在有关智力资本的研究中仍处于起步阶段.本文试图从一个新的视角:即会计学的视角对智力资本的定义及要素构成进行新的构建,在目前普遍认同的人力资本、组织资本和关系资本这三个要素的基础上,在增加一个创新资本的要素,最后基于前面的构建,和中国公司财务报告的规则和模式得到一个适合中国智力资本信息披露的智力资本构架体系.     

浅论企业知识资本与信息资本的管理

随着社会经济,技术环境的变化,企业发展所需要素的内容发生了很大的变化.知识资本、信息资本已成为决定企业未来生存和发展的关键因素.如何有效地利用这些要素资本,成为企业进行价值管理及实现企业价值增值目标需要解决的问题.知识资本与信忠资本的管理成为价值管理的核心.     

浅谈企业最佳资本结构

企业在激烈的市场竞争中占据优势的要素之一就是具有合理的资本结构。文章从资本结构的理论发展出发 ,分析了影响企业资本结构的各种因素 ,进而确定企业的最佳资本结构。     

商业银行资本结构:存在一个具体的比例吗

与工商企业相比,银行业的杠杆比例明显偏高.这种普遍存在的鲜明对比与经典的公司财务理论是矛盾的.本文从银行的本质特征分析银行资本结构的特殊性,考察商业银行市场均衡资本的形成、银行安全网、资本监管对银行资本结构的影响,并从经济资本、监管资本、会计资本的角度研究银行资本数量的确定.本文认为商业银行最优资本结构难以确定为具体的比例,可以大致地定义在一个合理区间里.     

论生产要素的二元化结构

本讨论在知识经济时代的生产要素，提出要素投入呈现二元化结构形态－物质资本和非物质资本，分析二元化要素各自的增长特征，产出变动随要素变动的关系。     

我国全要素生产率测度差异的原因分析——基于DEA的方法

近十余年来,许多学者对我国的金要素生产率水平进行了测度.但是,不同学者给出的全要素生产率水平差异非常大,并且对于全要素生产率的变化是技术变化还是效率变化导致的结论也大相径庭.本文利用不同方法度量的资本存量数据和劳动力数据,采用基于Malmquist指数的数据包络分析方法测算了我国的生产率,得出的结论是不同学者结论的差别主要是资本存量数据的估算差异引起的,并进一步讨论了TFP的可靠性及相关问题.     

人口结构、人力资本结构与经济增长

经济发展过程伴随着人口结构的改变以及人力资本结构的改变,这种改变又影响着经济增长方式。本文刻画了这两种结构,考察工作家庭与退休家庭、体能资本与知识资本、通用性知识资本与专用性知识资本在经济增长过程中的作用。笔者发现,一个经济社会在其发展的早期阶段,主要是依靠体能资本和专用性知识资本促进经济数量上的增长和赶超,之后主要依靠通用性知识资本实现质量型经济增长。     

对东北老工业基地资本结构优化的探析

<正> 1、优化资本结构的角度 资本结构是一个多因素、多变量、多层次集合而成的复合性体系。按其不同性质,资本结构应分为质量结构和数量结构。一般说来,质量结构表明了不同来源渠道资金的流动性大小、成本高低、风险大小,对企业经营业务和财务活动约束强弱。它趋向的角度是考虑资本结构优化的质量方面。而数理结构则反映了不同质量资金来源在总资金中的比重,要说明企业筹资的质量,必须通过数量结构予以反映,它趋向的角度是考     

THE COEVOLUTION OF ECONOMIC AND POLITICAL DEVELOPMENT FROM MONARCHY TO DEMOCRACY*

This article establishes a unified political economy model to analyze the democratization process from monarchy to oligarchy and to democracy in the context of dynamic economic development. As the predominant source of wealth evolves from land to physical capital and finally to human capital, the relative economic and hence coercive power of land owners, capitalists, and workers shifts accordingly, inducing the transition of the political system where political power is expanded from landlords to capitalists and finally to workers. A smooth transition through political compromise facilitates efficient allocation of savings in physical capital followed by efficient investment in human capital.     

THE TREATMENT OF EDUCATION IN NATIONAL ACCOUNTING1

It is argued that the conventions of an accounting system, such as the S.N.A., are a matter of convenience. The treatment of education as a current expenditure, instead of as a form of capital formation, derives from the Keynesian system, and is not appropriate for dynamic problems of developing countries, where weaknesses in education are often the main “bottleneck” in the process of development. In such countries, expenditure on education clearly yields its benefits mainly in the longer run. To treat this as a consumption item biases policy in the direction of using financial resources for fixed capital rather than human investment, and may cause aid agencies to penalize countries which expand their educational systems. A similar problem arises on other expenditures such as health, but the case for treating them as investment is not so strong. To treat educational expenditure as part of capital formation logically requires two major changes. First education needs to be removed from private and public consumption, and for this purpose a fairly broad definition of what is education should be used. Secondly, the stock of educational capital should be valued. The valuation problems are, however, severe. Variations in cost components make historic cost of little value as a yardstick, and calculations of future returns are fraught with difficulties. Using replacement costs, which seems the best method, involves the construction of education profiles in physical terms which can then be valued by present or by standardised costs. The depreciation of human capital through mortality and retirement can be allowed for by applying national average rates to these physical profiles. Switching educational expenditure from current to capital accounts involves no serious practical problem. However, although there should logically be an allowance for depreciation on human capital, this is not recommended; single monetary measures of educational stock are not very meaningful, and this would involve changing the definition of “net” aggregates. Development of statistics of educational stocks and flows in physical terms—the beginnings of “demographic accounting” fully integrated with the rest of national accounting—is strongly advocated.     

FDI外溢效应对我国工业行业技术进步的影响

我国工业行业存在明显的FDI外溢效应的人力资本"门槛效应",要想充分利用FDI的外溢效应,必须跨越人力资本门槛,提高人力资本水平、技术装备水平、研究开发能力和消化吸收能力。     

企业家职能配置、R&D与增长方式转变-以长江三角洲地区为例

本文以长江三角洲地区为例,论证了依赖于创新推动的增长方式是由企业家职能配置启动的,这取决于企业家职能对人力资本质量与研发投入的高水平要求,同时也受到资本、劳动力再配置条件与政府管制的影响。通过计量检验发现,实现长江三角洲经济增长方式转变目前已具备企业家职能配置与人力资本培育相互促进的机制,而研发支出与企业家职能配置之间的互动关系受地方政府的影响总体上还没有形成,这削弱了经济增长方式转变的研发支出基础。     

PRINClPLES IN THE VALUATION OF HUMAN CAPITAL

Human capital concepts and measures have been applied and misapplied to an increasing variety of economic problem areas, two of which are examined. One of these is measurement of human capital gains and losses through migration. First requirements here are specification of the gaining or losing entities and of the relevant welfare functions. Alternatives in these respects are outlined. It is then argued that an appropriately adapted Fisherian present-value assessment of human capital is normally the correct measure. Replacement costs are a legitimate substitute only for young migrants with little cumulated learning through experience and even then they have usually been fallaciously applied. Probability adjustments for migration and re-migration are required in both cost and present-value assessments of human capital effects of migration-relevant policy alternatives, but the nature of those adjustments differs with the measurement approach used. For longitudinal analysis of contributions of human capital to economic growth, all measures of human capital stocks are inappropriate. A first principle of such analysis is measurement of resource inputs as flows. A coordinate principle requires that disaggregation be carried as far as necessary to distinguish essentially homogeneous categories of labor inputs. Though a way of separating out the schooling versus on-the-job-experience components of human capital is illustrated, it requires some strong assumptions. Splitting men into abstracted human capital components is better avoided in growth analysis. Furthermore, categorization of labor-force sub-groups could equally well provide the basis for rate-of-return assessments of marginal changes in the pace of investments in humans. Such assessments would incorporate the main elements of capital theory except valuation of the capital asset itself. Ultimately, human resource measurements for use in major public policy decisions relating to either growth or migration (or both) must incorporate modifications or error components that allow for development phenomena that elude marginal assessments. Among developing countries especially, a consideration of educational diffusion processes and dynamic productivity scale effects, for example, could have critical measurement and policy implications.     

THE ACCOUNTING TREATMENT OF HUMAN INVESTMENT AND CAPITAL

Defining investment as outlays that increase income- and output-producing capacity, the author presents estimates of human investment in the United States 1929–69, comprising rearing costs, education, training, health, safety and mobility outlays. He develops an economic accounting framework to accommodate human investments and research and development in national and sector capital accounts, with appropriate adjustments to the current accounts to provide consistency. The associated balance sheets and wealth statements are also developed.
The wealth and corresponding income estimates are used to compute rates of return on human, non-human, and total capital. In the business economy the average net rate of return on total capital was 10.6 percent in 1969, compared with 10.0 percent in 1929. The average and marginal rates of return on human capital were generally somewhat higher than on non-human capital throughout the period.     

BEAUTY AND PRODUCTIVITY: THE CASE OF THE LADIES PROFESSIONAL GOLF ASSOCIATION

There is evidence that attractive looking workers earn more than average looking workers, even after controlling for a variety of individual characteristics. The presence of such beauty premiums may influence the labor supply decisions of attractive workers. For example, if one unit of a product by an attractive worker is more rewarded than that by her less attractive coworker, the attractive worker may put more effort into improving her productivity. We examine this possibility by analyzing panel data for individual female golfers participating in the Ladies Professional Golf Association (LPGA) tour. We found that attractive golfers recorded lower than average scores and earn more prize money than average looking players, even when controlling for player experience and other variables related to their natural talents. This finding is consistent with the notion that physical appearance is associated with individual workers' accumulation of human capital or skills. If the human capital of attractive workers is at least partly an outcome of favoritism toward beauty, then the premium estimates obtained by previous studies may have been downwardly biased. (JEL J3, J7, L8)     

长三角经济区人力资本状况比较研究

对长三角经济区的上海、江苏、浙江三省市1990—2002年期间的人力资本存量进行了估算,比较分析了三省市的人力资本投资、投资效率、资本存量状况、空间结构及其特点。     

物质资本、人力资本与经济增长——以四川省眉山市为例

以柯布—道格拉斯生产函数的有效劳动模型为理论基础,用计量经济学方法分析了眉山市物质资本、人力资本与经济增长关系,得出人力资本投资的边际效益远大于物质资本的结论,进而结合我国实际对世界银行提出的新发展观框架进行了初步阐释。     

财政支出结构与经济增长

通过构建理论模型和经验模型,我们可以得出以下结论:(1)财政支出总水平与经济增长负相关,财政生产性支出与经济增长正相关。(2)财政人力资本投资比物质资本投资更能提高经济增长率。(3)用于科学研究的支出所带来的经济增长远远高于物质资本投资和人力资本投资所带来的经济增长。这些结论对政府今后调整财政支出政策,优化财政支出结构,确定财政支出重点,具有重要的政策含义。