国外品牌犯错研究述评与展望

以往的品牌犯错事件主要以产品伤害危机为主,近年来在社会规范和道德层面上也逐渐地有所体现,给企业和利益相关者带来了更广泛的影响,而现有品牌犯错的述评仍主要停留在品牌功能层面上（以产品伤害危机为主）,缺少系统全面的分析。本文在梳理国外文献基础上,围绕品牌犯错的含义、分类、相关变量及影响结果、应对策略等主题进行述评,探讨该领域的未来研究方向,以期为我国的品牌犯错理论研究和实践操作提供参考借鉴。     

接轨站施工工程重要度评价体系研究

高铁与既有线接轨站施工项目中单体工程众多,对这些单体工程的重要度进行评价有助于施工资源的合理配置.通过分析接轨站施工项目的内在特点,总结了评价指标选取的原则,利用经过层次分析法改进的熵值法作为指标权重的确定算法,进而建立了接轨站施工工程重要度评价体系.以连云港站站改的一个子项目作为实例进行分析,并对其中的5个单体工程重要度进行评价.     

Control-ownership wedge and investment sensitivity to stock price

This study examines whether insiders’ incentives for private control benefits affect investment sensitivity to stock price. While Chen et al. (2007) link stock price informativeness to firms’ learning from the stock market, we offer an alternative agency-cost based explanation. Using a total of 2822 firms from 22 countries in East Asia and Western Europe, we document a strong negative association between control-ownership wedge and investment-q sensitivity, suggesting that insiders’ incentives for private control benefit reduce their propensity to listen to the market. Furthermore, the negative impact of wedge on investment-q sensitivity is primarily driven by sub-optimal investments. Overall, we provide evidence that agency problem is an important factor that determines the learning from the stock market in capital allocation.     

我国系统性金融风险传染的空间结构及时变特征

本文构建一个格兰杰因果尾部风险网络,从整体网络关联性视角考察我国系统性金融风险的空间结构及时变特征.结果表明:一是从总体看,2008年以来,金融体系风险溢出效应波动上升,资管新规的实施使溢出效应由升转降,新冠肺炎疫情导致溢出效应短暂上升,但目前已回落至低位;二是从风险的空间结构看,房地产部门较高的风险出度和入度引发了风险加速机制,使其成为重要的风险源和承担者;三是从风险的时变特征看,保险、证券等业务创新多的部门风险来源的角色在强化,银行向信托、证券业的风险溢出近年来有所上升.基于以上结论,本文认为,当前应当进一步完善资管新规,加大对金融创新业务的风险监测,密切关注房地产部门风险.     

工业投资的长期效应——来自抗日战争的证据

基于特定地区的工业投资是后发国家(或地区)干预经济的重要手段,但其长期政策效果却未引起足够关注.文章搜集整理了各种史料,构建了抗日战争时期后方十省的县级工业数据库,探究抗日战争时期大后方地区的工业投资对经济发展所带来的长期影响及其作用机制.研究发现:(1)如果1942?1945年间县内工业企业数量越多,那么其在新中国时期经济发展水平越高,不过该效应随时间逐渐减弱.(2)近代大后方地区的工业投资通过路径依赖和初始物质资本积累对长期经济发展产生了正向影响.历史上工业投资越高的地区,当下的工业化程度也越高,但工业企业的生产效率并没有显著差别.(3)历史上拥有更多工业投资的地区在当下能够吸引更多的人口迁入,同时拥有更高的城市化率,不过该历史基础并未显著影响与农村相关的变量,如婴儿死亡率以及农村居民纯收入等.上述结论说明,向特定地区的大规模投资可以帮助其更快地完成工业化,逆比较优势的产业布局在短期会带来效率损失,但在长期却可能带来正面效应.     

Insiders’ incentives for asymmetric disclosure and firm-specific information flows

Recent research suggests that insiders’ incentives for capturing cash flows affect price formation process in which insiders are inclined to withhold good news and to accelerate the release of bad news (Jin and Myers, 2006). We investigate whether insiders’ incentives for private control benefit, proxied by control-ownership wedge, affect firm-specific return characteristics. We find that control-ownership wedge is negatively related to the likelihood of positive return jumps and positively related to the extent of asymmetric market reaction to good news rather than to bad news. Overall, our results support the notion that corporate insiders increase opaqueness and withhold good news in order to capture unexpected cash flow.     

黑河口岸对俄出境务工人员劳动权保障现状调查报告

在全球化劳务输出的大背景下,为解决中国众多剩余劳动力问题,促进劳务交流,改善劳动力出国环境,以中国对外输出劳务具有代表性的口岸城市黑河为蓝本,针对劳务输出中的出国途径、务工从事行业、纠纷处理方式、政府部门发挥的作用等一系列与劳动权保障相关的问题进行阐述,探求国内劳动力输出障碍的根本原因,以及解决这一问题的根本途径。     

The effect of emotion and time pressure on risk decision-making

Emotion and time pressure are two important factors affecting risk decision-making. This study explored the interaction of emotion and time pressure on risk decision-making by adopting 3 (emotion state: positive emotion, negative emotion, and control group)?×?2 (time constraint: high time constraint and no time constraint) between-subject experiment design. The results showed that (1) both emotion and time pressure exerted significant effect on risk decision-making (generally, positive emotion renders participants more risk prone than negative emotion, and high time pressure promotes people more risk seeking than no time pressure); (2) time pressure polarized the effects of different emotions on risk decision-making. As effects of emotions were polarized under high time pressure, two distinct cognitive pathways may function in human decision-making. Based on our experimental result and previous neuroeconomic works, we proposed a novel dual cognitive pathways model to explain phenomenon in the current article.     

Disclosure of Goodwill Impairment under AASB 136 from 2005–2010

An accounting standard for goodwill, AASB 136 Impairment of Assets was implemented in Australia in 2005. However, several issues of compliance with the Standard were noted in the initial adoption periods. This study examines goodwill reporting practices in Australia over the five‐year period from 2005 to 2010. It explores the extent to which Australian listed entities complied with mandatory requirements in relation to impairment testing. Using a sample of 287 Australian listed firms, we found that compliance with the Standard's goodwill allocation requirements generally improved; however, there was still non‐compliance for all reporting periods. Also, there was a tendency for firms to define the same or smaller numbers of cash‐generating units (CGUs) than reporting segments. This suggests the existence of CGU aggregation, which may have the capacity to influence the incidence of goodwill impairment, and thereby the financial position of an entity. Coupled with non‐compliance and a lack of audit attention, compliance issues surrounding goodwill impairment testing under AASB 136 still remain of concern to regulators. The findings are useful to academics, regulators and policymakers because they signal the (lack of) compliance with AASB 136.     

延安大学社会体育专业学生就业现状调查与研究

文章采用问卷调查法对延安大学体育学院已毕业的社会体育专业的学生就业现状进行问卷调查,根据结果进行分析,提出相应的对策。