广州某院2009~2011年口服降糖药物的应用分析

目的评价医院门诊口服降糖药物使用情况,为临床合理用药提供参考。方法对门诊2009年~2011年口服降糖药物的应用品种、销售金额、用药频度、日均费用等进行排序、统计、分析。结果该院口服降糖药物DDDs总值、年用药总量和年销售金额呈上升趋势,DDDs值排前三的分别是二甲双胍肠溶片、阿卡波糖片、瑞格列奈片。结论二甲双胍肠溶片、阿卡波糖片和瑞格列奈片为该院口服降糖药物的一线药物,该院口服降糖药物的用药结构基本合理。     

Investor protection and price informativeness about future earnings: international evidence

This study draws on the investor protection literature to identify structural factors in a country’s information environment that are likely to explain cross-country differences in the extent to which future earnings information is capitalized in current stock returns. Using a sample of 55,900 firm-years from 32 countries, we find that greater financial disclosure, higher quality earnings, and greater information dissemination through news media are associated with stock prices that are more informative about future earnings, whereas strong enforcement of insider trading laws is associated with stock prices that are less informative about future earnings. We also find that, on average, price informativeness about future earnings is greater in countries with strong investor protection. Our results illuminate the importance of structural factors constituting a country’s information environment in explaining cross-country variation in price informativeness about future earnings.     

社会责任与企业可持续发展研究——基于PE支持企业的视角

随着近几年企业社会责任问题凸现以及部分私募股权投资基金支持企业上市后业绩变脸,使得人们质疑私募股权投资基金的参与是否有利于支持企业社会责任的改善.文章以92家私募股权投资基金支持企业为样本,研究了社会责任与企业可持续发展的关系,结果显示企业可持续发展与对政府的责任、供应商的责任正相关,而与债权人的责任、社会的责任负相关.     

盛世走向封闭的教训值得汲取

关于苏联是怎么垮掉的,世界上论述很多,有人是说和平演变的,有人说是因为内部体制的问题.作为一个长期观察世界变化人来看,苏联兴盛起来,是开放带来的.苏联的第一个五年遍地计充分利用了1929年到1933年西方的经济危机,斯大林讲,他2/3的工厂是从美国引进的.但是战后苏联走向了封闭.     

人力资本、国内研发、技术外溢与技术进步——基于中国省际面板数据和一阶差分广义矩方法的研究

本文研究了人力资本、国内研发和技术外溢与我国全要素生产率(TFP)之间的关系,并采用动态面板数据一阶差分广义矩估计方法对1985至2005年我国28个省(自治区、直辖市)的面板数据进行了实证检验.实证表明,进口和国内研发都显著地促进了TFP水平的提高,但我们没有发现外商直接投资对TFP有显著的促进作用,不同层次人力资本中也只有高等教育人力资本促进了TFP水平的提高;实证还表明,在吸收能力指标如人力资本、国内研发、收入水平以及综合技术水平中,只有综合技术水平促进了以进口为渠道的国际技术外溢.     

Selecting suitable compensation plans of executive stock options

Theoretical and empirical works have emphasized that executive stock option plans play an important role in compensation management and corporate governance owing to the incentives to increase firm stock price and volatility levels. This study not only proposes models of executive stock options and constructs value-matched financial variables for comparing the incentive effects towards these options, but also develops an empirical study exploring the characteristics of executive stock options and suitable compensation management for companies. This investigation examines the daily value and compares incentive effects of six kinds of executive stock options with the empirical data of TSMC, the world's largest dedicated semiconductor foundry, which is listed on the TSE and NYSE. Empirical results indicate that purchased options would be the best choice for companies that are unsuitable to undertake risky investments, while the relative indexed options are appropriate for bear markets and good for companies whose executives are highly risk averse. Repriceable options are not recommended due to their high costs and weak incentive effects.     

服务业在低碳城市化进程中的作用

生产性服务业的发展,对于产业结构调整,对于低碳城市化的进程产生积极的推动作用.要积极探索高度城市化地区和服务业集聚区的低碳发展模式.在全球经济复苏缓慢的背景下,应从低碳经济入手推动生产性服务业的发展,寻找和培育新的经济增长点.调整产业结构与"低碳城市"的要求基本一致,迅速发展的生产性服务业在中国低碳城市化进程中的作用举足轻重.     

Cross-country growth regressions: problems of heterogeneity,stability and interpretation

The paper discusses the issues of heterogeneity and stability of cross-country growth regressions that have been used to study the problem of convergence. Almost all studies use pooled regressions. The paper considers the issue of pooling under heterogeneity using a hierarchical Bayesian method and estimates growth regressions for different panels studied in earlier papers, and different regimes. The conclusion is that the convergence rates are higher than those obtained from pooled regressions under the assumption of homogeneity and that there is instability over time in the relationships.     

Liquidity determination in an order-driven market

We exploit full order level information from an electronic FX broking system to provide a comprehensive account of the determination of its liquidity. We not only look at bid-ask spreads and trading volumes, but also study the determination of order entry rates and depth measures derived from the entire limit order book. We find strong predictability in the arrival of liquidity supply/demand events. Further, in times of low (high) liquidity, liquidity supply (demand) events are more common. In times of high trading activity and volatility, the ratio of limit to market order arrivals is high but order book spreads and depth deteriorate. These results are consistent with market order traders having better information than limit order traders.     

基于工序的油藏经营工资制度简析

文章分析了现代油藏经营管理、现行工资制度的特点,探索基于工序的油藏经营工资制度,即基于工序的定额工资制度,以期逐步完善现有的油藏经营工资制度,更有效的激励员工,实现油藏效益与个人收益的紧密联系及最大化。