上市公司退市制度实施效果的实证分析

文章采用Logistic回归分析方法研究我国上市公司退市制度的实施效果,结果表明,被特别处理的上市公司资产质量的好坏和盈利能力的高低对其是否能争取到保留上市资格的机会并无显著影响,撤销特别处理后的公司也普遍出现业绩下滑.这说明上市公司对自身质量改进缺少足够的关注,最终导致退市制度所应产生的正面效应长期弱化.     

北京市二手住宅价格影响机制--基于多尺度地理加权回归模型(MGWR)的研究

文章基于多尺度地理加权回归研究北京市2011-2017年二手住宅交易的价格特征,结果表明:①以往基于经典地理加权回归模型的研究可能存在一定的不稳健,而多尺度地理加权回归可以将不同变量对于因变量的影响尺度反映出来,其回归的结果更为可靠。②北京房价对区位因素非常敏感,且存在高度的空间异质性,区位的影响尺度是所有变量中最小的,接近于街道尺度。而卧室数量和到最近地铁站的距离为全局尺度的变量,在空间上的影响较为平稳。到公交站的距离、到小学的距离、建筑结构和装修状况对于房价的影响不显著。其他显著的变量均存在一定的空间异质性,其空间尺度由小到大分别为成交时间、面积、楼龄、楼层、朝向。③区位、朝向、卧室数量、成交时间均正向影响房价,而面积、楼龄、楼层、到地铁站的距离负向影响房价。所有影响因素中区位是影响房价的最主要因素,其次是成交时间朝向。面积成交时间、朝向和到最近地铁站的距离影响较大,所在楼层、卧室数量对于房价的影响较小,而面积和楼龄的影响最弱。     

A Globalized Conflict: European Anti-Jewish Violence during the Second Intifada

The globalization of the Arab–Israeli conflict during the period of the second intifada against Israel (from the autumn 2000 through at least the spring of 2005) has fostered anti-Jewish violence in Europe and throughout the world. With this globalized conflict as a context, this paper explores the effects of four explanatory factors on counts of anti-Jewish violence in 10 European countries. These factors are the relative sizes of a country’s Jewish and Muslim populations; how interpretations of the events in the Middle East mobilize the perpetrators; the unresponsiveness of bystanders; and the ambivalence of ordinary Europeans. Poisson multilevel models of the effects of these social structural and attitudinal variables suggest that all four factors contribute to violence. The violence counts include major attacks like shootings, knifings, bombings, and arson; and major violent incidents like vandalism and physical aggression without the use of a weapon. The views expressed in this paper are my own and do not necessarily reflect the opinions or policies of any organization to which I may be affiliated. I wish to thank Greg Maney and other reviewers of earlier versions of this paper for their helpful comments and Philip Gibbs of the SAS Institute for clarifying aspects of GLIMMIX.     

Relating alternative forms of contingency fit to the appropriate methods to test them

At the core of contingency theory, a major theory in management accounting, is the concept of fit. We critically discuss forms of fit as presented in overview articles from the management accounting field, highlighting forms of fit that have not appeared in prior overview articles (matching fit with hetero-performance on the fit line and/or asymmetric effects of mis-fit on performance). We also address some confusing arguments in the literature concerning the moderation form of fit and what has been referred as the mediation form of fit. In a second step, we reevaluate the appropriateness of statistical techniques used to test sub-forms of fit, highlighting the difficulties in differentiating conclusively between them. Specifically, we present polynomial regression analysis (PRA) in conjunction with the response surface methodology (RSM) as a powerful methodological alternative and discuss its ability to differentiate between the sub-forms of fit. We also discuss the strengths and weaknesses of structural equation modeling (SEM) to test for forms of fit.     

Food Stamps and Food Spending: An Engel Function Approach

Estimation of Food Stamp Program (FSP) effects has been complicated by self-selection and by a contradiction between observed spending patterns and the economic theory of consumer choice. We developed a modified version of the traditional theory, in which participant households may be partly extramarginal even if they have some cash spending on at-home food. Using Current Population Survey (CPS) data for 2001–2005, we estimated Engel functions for at-home and away-from-home food spending for FSP participants and nonparticipants. Compared to nonparticipants with the same level of total income, participants had higher at-home food spending and lower away-from-home food spending.     

现代城市广场优化设计研究

本文在总结中外广场发展规律的基础上，借助于环境工程学、心理学、城市社会学、建筑学、美学、艺术 等诸多学科的成就，着重研究人在广场空间环境中的行为活动规律，进而对广场空间环境设计进行了系统分析和提出了优化设计应遵循的原则。     

中美能源库兹涅茨曲线研究——基于正交偏最小二乘法

中国与美国能源库兹涅茨曲线是存在的,中国将在人均GDP达到2万美元左右到达能源消费总量拐点,产业结构变化影响较弱,经济危机反而刺激了能源消费;美国在2007年前后已经到达拐点,第三产业产值与工业比值每提高1个百分点,会减少大约1百万吨标准煤,每次经济危机会减少当年3千万吨标准煤。通过对比可知,目前中国属于高能耗模式,不利于可持续发展,应对经济危机应发挥市场自身的调节作用,从而达到优胜劣汰实现结构转型。     

CORRUPTION AND THE COMPOSITION OF TAX REVENUE IN MIDDLE EAST AND AFRICAN ECONOMIES1

Regression results from a panel of 53 Middle East and African economies suggest that corruption has a quite large negative and statistically significant impact on tax revenues, mainly reflecting the impact of corruption on tax collections from social security, and taxes on domestic goods and services and international trade transactions. Policy changes to boost tax revenues might usefully focus on changes in direct taxes and efforts to combat corruption in tax collections should focus on indirect taxes.     

Non-performing loans,moral hazard and regulation of the Chinese commercial banking system

Non-performing loans (NPLs) represent a major obstacle to the development of banking sector. One of the key objectives of the banking sector reforms in China has therefore been to reduce the high level of NPLs. To do so, Chinese regulatory authorities have injected significant capital into the banking system and scrutinized NPLs since 2003. This paper examines the impact of NPLs on bank behavior in China. Using a threshold panel regression model and a dataset covering 60 city commercial banks, 16 state-owned banks and joint-stock banks, and 11 rural commercial banks during 2006–2012, we test whether lending decisions of Chinese banks exhibit moral hazard. The results support the moral hazard hypothesis, suggesting that an increase in the NPLs ratio raises riskier lending, potentially causing further deterioration of the loan quality and financial system instability. Policy implications of findings are evaluated.