惊艳惟美酥油花——大隐于青藏高原的艺术探奇

随心结缘派的酥油花塑制品 郭沫若先生生前在北京曾闻听藏族学者更登曲培提及在青藏高原上有一种油塑艺术，说它的塑制品精美绝伦、奇艳无比，名曰——酥油花，观之能疗疾、食之能益寿！     

建设天津北方国际物流中心的几点思考

党中央、国务院从我国经济社会发展全局出发,作出了推进天津滨海新区开发开放的重要战略部署.建设天津北方国际物流中心面临新的发展机遇,要有新的思路.     

The determinants of bilateral trade

Abstract.  In this paper we present a monopolistic competition model that incorporates asymmetric trade barriers and international differences in production costs. The model implies a highly non‐linear bilateral trade equation. Estimation of this equation yields parameters for the elasticity of substitution and trade costs that are more reasonable than those found in previous studies. A simulation indicates that trade liberalization will shift trade from rich countries to poor countries and from within continental trading partners with preferential trade agreements to intercontinental trading partners. JEL Classification: F1     

“以市场换技术”辨析

长期以来在招商引资和技术引进方面,存在着以市场换技术争论,文章从技术主要供应方跨国公司和技术引进方变化进行分析,认为市场准入与技术引进正在脱离联系,旧思路、政策、争论应该结束,提出在制定政策时要有突破某些束缚;进一步解放思想是制定新技术引进政策保障。     

Can Chinese Discuss Conflicts Openly? Field and Experimental Studies of Face Dynamics in China

Chinese people have been theorized to be particularly sensitive to social face and avoid direct discussion in conflict to promote interpersonal harmony. Social face has been used to explain the proclivity of East Asians to smooth over conflict. More research is needed to study social face empirically and its relationship with direct discussion and the processes by which social face has its impact. Results from a field interview study and an experiment conducted in China support theorizing that confirmation of face induces cooperative goals and open-mindedness. In contrast with common assumptions about Chinese organizations, direct discussion, compared to avoiding, strengthened relationships. Direct controversy, especially when face was confirmed, induced open-mindedness: Participants asked more questions, explored the opposing views, demonstrated more knowledge of the opposing arguments, and worked to integrate views. These results were interpreted as suggesting that Chinese people can discuss their conflicts directly and cooperatively when they are assured that their face is confirmed. Results have implications both for the general theory of cooperation and competition as well as our understanding of social face in China.     

中国税收流失规模估测

无论地下经济还是公开经济都存在税收流失问题.本文采用一定的方法分别对我国1982-2002年间地下经济和公开经济的税收流失规模进行了估测.从税收流失的规模角度看,我国税收的汲取能力比较弱,蕴涵着很大的税收风险.减少税收流失应作为税制改革的重要目标.     

试论人力资本的投资回报路径

人力资本与物质资本虽然在生产经营过程中关系密切,但由于两者的投入性质和方式不同,投资回报的性质和路径也不同。研究和区分人力资本与物质资本的不同投资回报路径,把握人力资本投资回报路径的特性,有利于政府在公共管理中推动人力资本的生成,有利于完善激励机制,发挥人力资本的潜能。     

The mean-variance investment problem in a constrained financial market

This paper extends the mean-variance analysis and the two-fund separation theorem to a market with some constraints, such as, the incompleteness, prohibition of short-selling, and partial information, with stochastic interest rate, and with stochastic volatility for risky assets. By maximizing a quadratic utility of terminal wealth, we show that the efficient frontier for the problem is a straight line in the mean-standard-deviation diagram. The quadratic utility function exhibits mean-variance efficiency. Our results apply to portfolios of claims in a single period, multiperiod, and continuous time.     

2005年国外大石油公司经营状况及发展动向

2005年,埃克森美孚、BP、壳牌、雪佛龙和道达尔的净利润总额达到1131亿美元,比上年上涨了29%;油气产量同比下降了3%,原油加工量和油品销售量也出现明显滑坡;受天然气储量增长的拉动,年末剩余可采油气储量为739亿桶油当量,与上年基本持平,油气储量接替率为107%,比上年增加了46个百分点,但石油储量接替率仅为62%;单位油气生产成本为4.92美元/桶,比2004年增加了20.4%.在新的经营环境下,五大石油公司对经营战略进行了调整.一是在加大投资力度的同时,保持审慎的投资原则,资本支出增幅小于国际原油价格上涨幅度.二是为利润的长期增长进行战略性投资,继续推行向上游倾斜的政策.三是进行资产优化组合,剥离成本高、缺乏发展潜力的非战略核心资产,提高资本回报率.四是选择符合发展战略、资产匹配性好的中型石油公司进行并购,以实现近期产量增长目标.五是为了减少再投资的风险,增加派息和股份回购,将高油价所带来的超额盈利回报股东.六是发展替代能源和可再生能源.     

The Impact of Regulation Fair Disclosure on Information Asymmetry and Trading: An Intraday Analysis

This study examines the impact of Regulation Fair Disclosure (FD) on liquidity, information asymmetry, and institutional and retail investors trading behavior. Our main findings suggest three conclusions. First, Regulation FD has been effective in improving liquidity and in decreasing the level of information asymmetry. Second, retail trading activity increases dramatically after earnings announcements but there is a significant decline in institutional trading surrounding earnings announcements, particularly in the pre‐announcement period. Last, the decline in information asymmetry around earnings announcements is closely associated with a lower participation rate in the pre‐announcement period and more active trading of retail investors after earnings releases.