期货交易活跃度、波动性与投资者结构关系的实证研究

本文将期货市场上的投资者分为个人与机构两类,基于白糖、优质强筋小麦和PTA三个期货品种的样本数据,探讨了交易结构和持仓结构对期货交易活跃度和期货价格波动性的影响规律。研究结果表明:期货交易活跃度主要受交易结构的影响,而期货价格波动大小主要受持仓结构的影响;根据最优的弹性二次模型结果,两者的弹性均呈现出边际递减的经济学变化规律。     

Individual Differences in the Acceptability of Unethical Information Technology Practices: The Case of Machiavellianism and Ethical Ideology

While information technologies present organizations with opportunities to become more competitive, unsettled social norms and lagging legislation guiding the use of these technologies present organizations and individuals with ethical dilemmas. This paper presents two studies investigating the relationship between intellectual property and privacy attitudes, Machiavellianism and Ethical Ideology, and working in R&D and computer literacy in the form of programming experience. In Study 1, Machiavellians believed it was more acceptable to ignore the intellectual property and privacy rights of others. Programmers and R&D workers considered violating intellectual property rights more acceptable. Programmers did not consider violating privacy rights more acceptable, but R&D workers did. Finally, there was an interaction between Machiavellianism, programming and R&D. Machiavellians who also had programming experience or worked in R&D found violations of intellectual property much more acceptable. The effect of Machiavellianism on attitudes toward violations of privacy was enhanced by working in R&D, but not by programming experience. In Study 2, idealists believed it was less acceptable to ignore the intellectual property and privacy rights of others. Relativists found it more acceptable to violate intellectual property rights, though they did not consider it more acceptable to violate privacy rights. Those with programming experience were more accepting of intellectual property rights violations, but not of privacy violations. Finally, programming experience moderated the relationship between idealism, relativism and attitudes toward these unethical information practices. Implications for diminishing unethical behavior among Machiavellians, Relativists, programmers and those in R&D are discussed.     

论财政法在国家宏观调控中的地位、影响与实施

在我国现阶段，财政法既是国家宏观经济调控的重要手段，也是实现财政职能、全面建设小康社会、筹集与分配财政资金的法律保障。因此，重视与加强财政法在宏观调控中的地位与影响以及实施的研究具有重要现实意义。     

新形势下经济特区的“特区之位”探析

在经济体制改革的新形势下,相对于"全国综合配套改革实验区"即"新特区"来说,经济特区作为"老特区"的改革实验田地位受到严重挑战,似乎已经完成了其作为改革创新扩大开放的实验田功能和全国改革开放的"窗口"、"排头兵"的历史使命,经济特区的"特区之位"已为综合配套改革实验区所取代。其实不然,经济特区在改革开放的攻坚阶段,仍将继续发挥其改革开放的"排头兵"作用。     

A unifying framework for the problem of adjudicating conflicting claims

In a recent paper, Thomson and Yeh [Thomson, W., Yeh, C.-H., 2008. Operators for the adjudication of conflicting claims. Journal of Economic Theory 143, 177–198] introduced the concept of operators on the space of rules for the problem of adjudicating conflicting claims. They focused on three operators in order to uncover the structure of such a space. In this paper, we generalize their analysis upon presenting and studying a general family of operators inspired by three apparently unrelated approaches to the problem of adjudicating conflicting claims. We study the structural properties of this family and show, in particular, that most of Thomson and Yeh’s results are specific cases of our study.     

中国品牌在Interbrand全球榜的地位及策略 ——基于其他国际权威品牌排行榜的对比

华为连续五年在Interbrand全球榜攀升,但在2019年下降;联想连续三年在Interbrand全球榜尾徘徊,在2018年落榜;其它中国品牌则从未进入该榜。迄今为止,中国品牌在Interbrand全球榜上的数量、名次、价值及其占比,与美国、德国、日本、法国品牌一直存在巨大差距。从2019年Brand Z、Brand Finance、World Brand Lab、Forbes等四种全球品牌排行榜来看,中国品牌展示的最大价值是1300多亿美元,最佳位次是第7名,在百强中实现的最多品牌数量为21个。同时,华为在Interbrand全球榜的品牌价值、位次,分别大幅度落后于四种全球榜中的三种。为扭转中国品牌在Interbrand全球榜的不利地位,中国品牌要向Interbrand全球榜的入选标准靠近,主动适应全球榜的规则。同时,中国实业界、理论界应当设法改善中国品牌在Interbrand全球榜的竞争环境。     

论上海浦东机场和虹桥机场的分工与合作

本文主要探讨上海浦东机场和虹桥机场两大机场如何分工与合作的问题。在综合分析上海机场发展现状和上海航空枢纽功能定位的基础上,借鉴国际上多机场城市分工运作的经验与教训,深入阐述两大机场分工定位,逐步构建"一市两场"体系,并对两机场分工与合作提出几点建议。     

Adverse inclusion of asymmetric advertisers in position auctions

Product listing platforms commonly use generalized second-price auctions to select competing advertisers for limited ad positions. However, when advertisers are asymmetric, position auctions may confound the post-auction competition structure and thus endogenize the bidders’ values of the ad positions. We build an analytical model to examine the impact of position auctions on an asymmetric market structure, which consists of a mass marketer and two specialized advertisers of heterogeneous quality efficiencies. The advertisers bid for two ad slots and then compete for the market in price and quality. We find that the asymmetric market structure may increase the uncertainty of the auction outcomes, which then may induce the advertisers to underbid using a conservative strategy profile in the locally-envy free equilibrium. Consequently, the auction outcome may adversely include the less-efficient specialized advertiser. This result is stronger than the position paradox in the classic auction literature, as the advertiser with a competitive advantage may be driven out and obtain zero profit.     

金融业人力资源开发的重点及实现途径

面对挑战,金融业人力资源开发是金融业改革与发展的重中之重,人力开发应把人才培养作为战略重点,人才培养的实现目前应侧重搞好岗位培训教育。     

地方政府隐性金融干预与信贷配给区域分化——基于面板数据的模型分析

政府干预产生的信贷配给在我国三大经济区域有着不同的表现形式,并提出了两个命题.运用2000～2005年的面板模型对东、中、西部三个经济区域的政府隐性干预和信贷配给之间的关系进行实证分析,结果表明:在东、中部地区,政府隐性金融干预下信贷配给表现为对私营和个体单位的贷款支持,对公有制经济单位的配给;在西部地区,政府隐性金融干预下信贷配给表现为对公有制经济单位的贷款支持,对私营个体经济单位的配给.