资本市场开放与企业投资结构偏向——来自"沪深港通"的经验证据

为建设更高水平的开放型经济新体制,近年来我国金融开放的步伐明显加快.那么在当前我国正面临投资结构"脱实向虚"的情况下,金融开放除了具有"增长效应"和"波动效应"之外,对企业的投资行为是否具有"纠偏"作用呢?文章以2010-2019年我国非金融上市公司年度数据为研究样本,利用"沪深港通"交易制度的实施作为资本市场开放的标志事件构造准自然实验,实证检验了资本市场开放对企业投资结构偏向的影响.研究表明:(1)"沪深港通"交易制度的实施有助于引导企业投资结构从偏重金融资产投资转向实体投资,且该效应在高融资约束、高成长性以及制造业企业中更为凸显.(2)在作用渠道上,"沪深港通"交易制度通过融资成本渠道和资产收益率渠道,降低了企业的股权融资成本,缩小了实体投资收益率与金融投资收益率的差距,对企业投资结构"脱实向虚"产生了"纠偏"作用,从而最终促使企业投资结构偏向实体投资.(3)"沪深港通"交易制度也会通过优化投资结构促进企业生产效率和价值的提升.文章为揭示我国持续扩大资本市场开放进程以引导经济"脱虚入实"进而实现高质量发展的内在机理提供了经验证据.     

An integrated approach for spatial analysis of the coupling relationship between tourism footprint and environment in the Beijing–Tianjin–Hebei region of China

This study aims at examining the spatial relationship between tourism footprint network and comprehensive environment which contains economic, social and ecological environment. The integrated approach combining network analysis and the coupling coordination degree model with spatial autocorrelation analysis was developed to analyze the network structure of regional tourism footprint, to evaluate the coupling coordination degree of tourism footprint network and comprehensive environment, and to explore the spatial pattern of the coupling coordination development. Data were collected from the Beijing–Tianjin–Hebei region of China. The results revealed that tourism footprints were concentrated in a few cities, and the regional coupling coordination degree showed a weak negative spatial autocorrelation. Beijing, Tianjin and Baoding had high agglomeration, while their spillover effect is not significant. Shijiazhuang and Qinhuangdao located in the High–Low area are potential growth poles. Findings indicate the integrated approach established is objective and effective, and contributes to macro policy-making of regional tourism development.     

我国商业健康保险地区发展失衡现状及原因研究

健康保险发展区域失衡目前在世界范围内是一个普遍的现象,而这种现象在中国表现得尤为突出。为了尝试着解释这种现象并解决失衡所带来的弊端,本文从消费者行为决策特点的视角出发、基于部门理论(Sector Theory)和输出基础理论(Export-Base Theory)等分析了健康保险发展区域失衡的原因,创造性地构建了健康保险发展指数来度量健康保险区域发展失衡现状,并用2004~2013年中国31个省市自治区的面板数据对影响健康保险发展失衡的原因进行了实证检验。研究发现,现阶段中国健康保险区域失衡,除了有经济水平差异的影响之外,医疗卫生资源、预期寿命、教育水平等因素对健康保险的发展影响也十分关键。这也进一步说明健康保险的发展基础与一般寿险有别,有必要单独研究。     

Journal Rankings,Collaborative Research and Publication Strategies: Evidence from China

Abstract

The primary focus of our paper is on the potential for in-house journal ranking lists to create friction between international collaborating researchers due to differences in how particular journals are rated on different lists. Using a questionnaire distributed to Chinese accounting researchers, we identify a number of potential friction points between Chinese and UK researchers. We find that almost all of our Chinese respondents use their own school's in-house ranking list as the primary or exclusive reference point for assessing journal quality, and 73% of respondents acknowledge that this has caused problems when working with scholars from other universities because of differences in how their institutions rank journals.     

基于需求和供给视角的环境审计动因研究

基于＂受托环境保护责任＂理论从需求和供给的视角分析环境审计动因,以我国环境审计理论研究规模为标本诠释环境审计需求,以我国环境审计结果公告数为标本诠释环境审计供给,以我国环境审计案例为标本诠释环境审计需求和环境审计供给之间的契合关系,研究表明：我国环境审计需求强烈,环境审计实践将更加有赖于环境审计服务的供给能力,而环境审计服务的供给能力受到诸多因素的影响;目前,大幅度提升环境审计服务供给能力是推进我国环境审计实践的关键所在。     

中国蔬菜品种及产业国际竞争力分析

本文对中国蔬菜品种及产业的国际竞争力进行了综合分析，并研究了中国蔬菜的优势和劣势，在此基础上提出了发展我国蔬菜产业的对策和建议。     

Recreationists’ Constraints Negotiation Process for Continual Leisure Engagement

Unlike prospective participants with desire for initial participation, current participants are likely to have different interest in habitual leisure engagement from participation itself. Accordingly, they may respond to the effects of leisure constraints differently in order to progress toward a higher level of leisure involvement. This study aims to construct a theoretical framework that demonstrates how diverse components of current participants’ constraints negotiation process are conceptually connected to each other. Study results suggest that different negotiation strategies help current participants adjust their willingness to participate in the activity more frequently. Results also denote that the three dimensions of leisure constraints are differently associated with cognitive negotiation strategies, and commitment plays an important role in promoting the use of negotiation strategies to mitigate current participants’ perception of leisure constraints.     

新农保对农村中老年人劳动供给时间的影响——基于年龄与家庭收入的异质性分析

依据CHARLS数据，采用PSM-DID方法，考量新农保对农村中老年人劳动供给时间的影响。结果显示：在考虑时滞效应的情况下，新农保对农村中老年人，特别是60岁以下中老年人的劳动供给具有显著负向影响，同时对家庭收入较高群体的劳动力供给负向影响更为显著。     

基于熵权-AHP法的商品住宅价值评价研究

本文利用价值工程原理界定商品住宅价值,将熵权法和AHP法相结合来建立商品住宅价值评定模型,以避免仅利用AHP法进行价值评价时主观性太浓的弱点并弥补熵权法缺乏专家经验知识的不足,使评价模型在追求客观实际的同时结合各项目的独特性和专家的经验判断。最后,通过实例验证了该评价模型的科学性和实用性。     

基于全球化背景的中国科技人力资源统计体系的构建

科技人力资源已成为世界各国经济增长的核心要素,对科技人力资源的有效开发和管理也成为一国竞争力获取的重要途径之一,如何保证科技人力资源的统计质量一直为当今各国政府关注的热点。科学、系统的科技人力资源统计,能为政府制订科技人力资源开发与管理政策提供服务与咨询作用。与世界发达国家相比,我国的科技人力资源统计研究尚处于起步阶段。从国际上通用的科技人力资源的内涵出发,阐明了科技人力资源统计口径问题,指出了我国科技人力资源统计体系的不足,提出构建与国际标准接轨的中国科技人力资源统计体系的措施,以进一步完善我国科技人力资源统计体系,增加统计数据的国际可比性,为政府决策提供参考。