从性别角度探究福建茶叶产业的工资收入问题

本文在国内外文献研究的基础上，运用经济学及社会学的方法，从性别分析的角度对福建茶叶产业工人的工资收入问题做定量分析。分析结果显示教育与培训对工资收入影响不大，性别因素间接影响工资收入，地区因素直接影响福建茶叶产业工资收入，分析结果具有一定的政策含义。     

新农村建设与经济发展模式重建

建设社会主义新农村,既是推动和促进我国农村经济和现代农业发展的必由之路,也是进一步加快我国整个国民经济增长和全面提高经济发展与社会进步综合效益的一个重要方面,并在促进和实现我国经济社会发展的地域构造与产业配置结构以及资源开发利用模式的有效转变与重建方面具有十分重要的现实意义和深远的历史意义.     

基于实物期权的智力资产价值分析

分析了智力资产的特点,简要讨论了传统历史成本法、重置成本法和收益现值法的优缺点。根据智力资产的实物期权特性,本文建立了智力资产实物期权价值评价模型,并运用具体算例验证了模型的有用性。     

农药企业社会责任指标体系与评价方法

企业社会责任评价体系是企业履行社会责任的指南和准则,是引导和规范企业行为的信息工具,是农药企业社会责任从定性研究到定量评价、从理论到实践的桥梁和纽带。本文在构建指标体系原则指导下,设计了农药企业社会责任综合评价指标体系,从经济效益、创新能力、产品质量、售后服务、环境保护、员工权益、社区关系和慈善公益八个方面设计指标反映农药企业社会责任评价所包含的主要内容,并利用层次分析法确定了不同子目标和指标的权重,同时就企业间横向比较和单一企业纵向比较两种情形,分别给出了社会责任综合评价的方法。     

京津冀地区发展民航产业集群研究

本文研究了民航产业集群的构成和民航产业集群（包括民航产业链）的区域经济特征．再分析和总结出机场与产业集群的经济关系，然后论证了京津冀地区发展民航产业集群的优势。一并提出在京津冀地区发展民航产业集群的设想及有关政策建议。     

Lending relationships in line-of-credit and nonline-of-credit loans: Evidence from collateral use in small business

Lender–borrower relationships facilitate monitoring in small business loans. We investigate how the duration and scope of the bank–borrower relationship affect the decision to secure line-of-credit and nonline-of-credit loans. We find that the likelihood of collateralizing a line of credit decreases with the length of the bank–borrower relationship. For nonline-of-credit loans, however, the incidence of collateral pledge decreases with the number of lender-provided financial services used by the borrower. Our finding indicates that the mechanism through which banks obtain private information depends on the type of the loan. Pooling across loan types may dilute the impact of both the duration and scope on the terms of a loan.     

Corporate social responsibility and Eurozone corporate bonds: The moderating role of country sustainability

In this paper, we empirically examine whether superior performance in corporate social responsibility (CSR) results in lower credit risk, measured by credit ratings and zero-volatility spreads (z-spreads). We are especially interested in how the environmental, social, and governance (ESG) related performance of the corresponding countries moderates this relationship. We find only weak evidence that superior corporate social performance (CSP) results in systematically reduced credit risk. However, we do find strong support for our hypothesis that a country’s ESG performance moderates the CSP–credit risk relationship. Superior CSP is regarded as risk-reducing and rewarded with better ratings and lower z-spreads only if it is recognized by the environment. In addition, we find a reduction of corporate bonds’ z-spreads by approx. 9.64 basis points if the CSP of a company mirrors the ESG performance of the country it is located in.     

Using performance-based contracts to foster innovation in outsourced service delivery

While many scholars claim that Performance-based Contracts (PBCs) foster supplier-led innovation, empirical research into their actual use and effects remains limited. We therefore explore two cases of IT outsourcing through such contracts to see whether, and if so how, PBCs foster innovation. Our findings suggest that in both cases, the low degree of term specificity in PBCs (i.e., their openness regarding how to render the contracted services) provides suppliers with autonomy in their daily service operations, which in theory allows them to innovate. However, only one of the suppliers exhibited high innovative performance. Other relevant factors aside, our findings further suggest that a lack of granted autonomy during contract execution is an important factor in explaining the level of supplier-led innovation. Our findings imply that outsourcers that remain too closely involved with the outsourced service delivery and do not allow their suppliers to act autonomously during contract execution limit their suppliers' innovation potential.     

Forward looking behavior in ECB liquidity auctions: Evidence from the pre-crisis period

Using data from the pre-crisis period we investigate banks' joint bidding behavior in the ECB's Main Refinancing Operations (MRO) and Longer Term Refinancing Operations (LTRO). We test whether banks bid at lower rates in MROs before the LTRO and at higher rates after the LTRO, compared to other operations. We motivate this by findings from the auction literature suggesting that agents' bidding behavior is forward looking and takes sequences of future auctions into account.We offer two findings. First, we find that in general banks bid in the MRO before the LTRO at lower rates as compared to other MROs. Moreover, MRO participants that also bid in the following LTRO bid at even lower rates, compared to peers not bidding in the LTRO. These findings support the hypothesis that banks view obtaining liquidity from the two operations as a substitute. Second, we find that banks generally bid more aggressively in the MRO after the LTRO. Banks that participated also in the LTRO preceding the MRO bid at substantially higher rates. These findings reflect that “short” banks, with potentially large net liquidity needs in the MRO after the LTRO, bid more aggressively. Although size plays a considerable role for bidding behavior, the conclusions are valid for banks of different sizes.     

Shadow costs of incomplete information and short sales in the valuation of the firm and its assets

This paper presents a simple framework for the valuation of compound options within shadow costs of incomplete information and short sales. The shadow cost includes two components. The first component is the product of pure information cost due to imperfect knowledge and heterogeneous expectations. The second component represents the additional cost caused by the short-selling constraint. Information costs are linked to Merton's (1987. Journal of Finance 42, 510) model of capital market equilibrium with incomplete information, CAPMI. This model is extended by Wu et al. (1996. Review of Quantitative Finance and Accounting, 7, 136) who propose an incomplete-information capital market equilibrium with heterogeneous expectations and short sale restrictions, GCAPM. This model is used in our paper to provide for the first time in the literature analytic solutions for derivatives in the presence of both shadow costs of incomplete information and short sales.When deriving the compound call option formula, we consider a call option on a stock, which is itself an option on the assets of the firm. Our methodology incorporates shadow costs of incomplete information and short sales on the firm's assets as well as the effects of leverage in the capital structure. The formula can be useful in the valuation of several corporate liabilities in the presence of information uncertainty and short sales constraints about the firm and its cash flows. Our analysis can be used for the valuation of several real options.