茶产业发达地区茶农选择茶叶销售渠道的影响因素分析——基于福建安溪实证

以福建省安溪县茶农问卷调查数据为基础,利用二项Logistic模型对茶农选择茶叶销售渠道的影响因素进行计量分析。研究表明,茶农户主特征的年龄对茶农选择渠道的影响不显著;茶农户主是否是村干部对茶农自家开茶叶店有显著影响;茶农是否参加茶业合作组织对茶农选择茶业合作组织影响显著;茶叶收入占家庭收入的比重0~25%、26%~50%对茶农自家开茶叶店有显著影响,51%~75%对茶农选择茶叶经销商影响显著;农户到最近茶叶交易市场的距离≤3 km,对茶农选择茶叶经销商和茶叶批发市场这2个渠道影响显著。     

Bayesian MCMC Mapping of Quantitative Trait Loci in a Half-sib Design: a Graphical Model Perspective

Graphical models provide a powerful and flexible approach to the analysis of complex problems in genetics. While task-specific software may be extremely efficient for any particular analysis, it is often difficult to adapt to new computational challenges. By viewing these genetic applications in a more general framework, many problems can be handled by essentially the same software. This is advantageous in an area where fast methodological development is essential. Once a method has been fully developed and tested, problem-specific software may then be required. The aim of this paper is to illustrate the potential use of a graphical model approach to genetic analyses by taking a very simple and well-understood problem by way of example.     

Inequality foundations of concentration measures: An application to the Hannah-Kay indices

The aim of this paper is to provide a connection between concentration and inequality. In particular, we show that the general entropy inequality indices are, among inequality measures, those consistent with the whole set of Hannah-Kay concentration indices. We isolate the inequality component underlying concentration measures, obtaining an explicit additive decomposition of the change in concentration into the change in its two components, i.e., inequality and the number of firms. This relationship proves to be valid for the whole set of Hannah-Kay concentration indices, and embodies as particular cases some others previously found in the literature. We are particularly grateful to Emilio Cerdá for helpful comments on the mathematical formulation of the paper. The second author also acknowledges support through the European Commission Project #ERBCHRXCT980248.     

Does a Switch of Budget Regimes Affect Investment and Managerial Discretion of State-Owned Enterprises? Evidence from Italian Firms

We investigate the investment decisions of Italian state-owned enterprises (SOEs) across budget constraint regimes and carry out a natural experiment that exploits a regime switch in 1987. Drawing on the theory of capital market imperfections, we apply an empirical framework for investment analysis to a panel of manufacturing SOEs in competitive industries. We identify parallels between SOEs and widely held, quoted companies afflicted by agency problems, managerial discretion, and overinvestment. We argue that, in the case of SOEs, the soft budget regime increases managerial discretion, facilitates collusion with vote-seeking politicians, and results in wasteful investment. Consistent with our predictions, we find that the regime switch disciplines SOE's investment behavior. Following a hardening of the budget constraint, managers lose discretion to indulge in collusion and overinvestment. J. Comp. Econ., June 2002 30(4), pp. 787–811. London School of Economics and Political Science, Houghton Street, London WC2A 2AE, United Kingdom; and CERIS–CNR, Institute for Economic Research on Firms and Growth, National Research Council, Via Avogadro, 8, 10121 Turin, Italy. © 2002 Association for Comparative Economic Studies. Published by Elsevier Science (USA). All rights reserved.Journal of Economic Literature Classification Numbers: E32, G31, G32, L32, M40.     

Intraday return and volatility relationships between the Ibex 35 spot and futures markets

This paper analyses the intraday lead-lag relationships between returns and volatilities in the Ibex 35 spot and futures markets. Using hourly data, we jointly analyze the interactions between markets, estimating a bivariate error correction model with GARCH perturbations which captures stochastically the presence of an intraday U-shaped curve for both spot and futures market volatility. Our findings show a bidirectional causal relationship between market volatilities, with a positive feedback. This two-way transmission of volatility is consistent with market prices evolving according to a long-run equilibrium relationship, and shocks affecting both markets in the same direction. Our empirical results also support a unidirectional cross interaction from futures to spot market returns. This pattern suggests that the futures market leads the spot market in order to incorporate the arrival of new information.     

Generalized piecewise linear histograms

We extend the concept of piecewise linear histogram introduced recently by Beirlant, Berlinet and Györfi. The disadvantage of that histogram is that in many models it takes on negative values with probability close to 1. We show that for a wide set of models, the extended class of estimates contains a bona fide density with probability tending to 1 as the sample size n increases to infinity. The mean integrated absolute error in the extended class of estimators decreases with the same rate n^–2/5 as in the original narrower class.     

Government Deficit, Public Investment, and Public Capital in the Transition to an Aging Japan

This paper examines the effects of government deficits, public investment, and public capital on welfare in the transition to an aging Japan by applying a simulated general equilibrium growth model. One of the main results of this paper is that targeting only high economic growth would mislead us as to economic policies, and that a policy to reduce future government deficits is most preferable for almost all generations, even though a cut in future deficits must be followed by a decrease in public investment, thus a decrease in public capital in the future. J. Japan. Int. Econ., December 2002, 16(4), pp. 462–491. Faculty of Economics, Shiga University, Japan; and Management School, Imperial College, United Kingdom. © 2002 Elsevier Science (USA).Journal of Economic Literature Classification Numbers: H55, H54, H62, C68, J10.     

Intra-Industry Reactions to Stock Split Announcements

We examine whether favorable information conveyed by stock split announcements transfers to nonsplitting firms within the same industry. On average, nonsplitting firms' shareholders experience positive and significant abnormal returns at the stock split announcements of their industry counterparts. In addition, industrywide and firm-specific characteristics are important determinants in explaining nonsplitting firms' stock returns. These firms' earnings increase significantly, and the earnings changes are positively related to the stock price reactions. Finally, we find no evidence that investors revise the value of nonsplitting firms because they anticipate a decline in earnings volatility.     

Hypothesis tests using data envelopment analysis

A substantial body of recent work has opened the way to exploring the statistical properties of DEA estimators of production frontiers and related efficiency measures. The purpose of this paper is to survey several possibilities that have been pursued, and to present them in a unified framework. These include the development of statistics to test hypotheses about the characteristics of the production frontier, such as returns to scale, input substitutability, and model specification, and also about variation in efficiencies relative to the production frontier.