Individual Agents,Firms, and the Real Estate Brokerage Process

This study examines how individual agents affect house selling prices and time on the market while controlling for brokerage firm-specific effects as well as supply and demand conditions that vary by neighborhood. Firm size effects disappear once firm specialization and agent characteristics are taken into account but geographic concentration by firms leads to higher selling prices. For individual agents, neither sex nor selling own listings affects price or selling time, but there are gains from partnering transactions across firms. Agents who specialize in listing properties obtain higher prices for their sellers while those who specialize in selling obtain lower prices for their buyers. Houses nearer to other transactions of an agent sell for higher prices. Finally, greater scale of listing and selling activity by an agent tends to lower selling price or lengthen the time on the market.

辩护人、诉讼代理人毁灭、伪造证据，妨害作证罪考察

现行刑法第306条——判处辩护人、诉讼代理人毁灭、伪造证据,妨害作证罪的立法根据在于,该罪行具有侵害国家司法作用的高度危险。由于辩护人、诉讼代理人在刑事诉讼中的特殊作用,决定了该罪行应当从重处罚。引诱行为的实质内容在于使证人违背事实改变证言或者作伪证,而不在于引诱的具体行为方式,即使是诱导式询问的某些特别类型也存在构成刑法第306条罪行的余地。刑法第306条与第307条是特别犯与一般犯的关系。辩护人、诉讼代理人藏匿、隐避证人的,属于本罪的毁灭证据的行为;辩护人、诉讼代理人明知是他人伪造、变追的证据而使用的,应当属于本罪的伪造证据的行为。     

Does sport make you happy? An analysis of the well‐being derived from sports participation

This paper examines the impact of sports participation upon the subjective well‐being of individuals. Encouraging participation in sports activity is now an important public policy issue, as it is argued that there are benefits in terms of health and well‐being to individuals as well as to society through externalities. Controlling for personal and socio‐demographic characteristics affecting well‐being, this paper examines if participation in, and the frequency and duration of, 67 sports activities affects well‐being. The form in which sports participation takes place is also investigated by examining if social‐interaction sports produce more well‐being. This paper demonstrates that sports participation has a positive affect upon the subjective well‐being of the population and, moreover, estimates its monetary value. The effects are larger if one allows for social interactions.     

基于异质性特征的新生代农民工培训研究

正确把握新生代农民工群体的异质性特征是提升其培训效果的前提。当前新生代农民工培训中存在的问题,既包括整个农民工群体培训的一般性问题,还包括新生代农民工群体培训的特殊性问题。新生代农民工培训的特殊性问题,源于将所有农民工看作一个同质的群体,集中表现为培训的针对性不足。本文论述了新生代农民工的异质性特征,并在此基础上分析了这一群体培训存在的特殊性问题,提出了具有针对性的差异化培训管理方略。     

投资者的异质预期对IPO抑价的影响

针对IPO抑价中的有意抑价和无意抑价问题,运用行为金融理论,在以机构投资者利益最大化推导出机构投资者需求函数的基础上,研究了散户和机构投资者的同质和异质预期对IPO抑价的影响,并进行抑价进行比较分析。研究表明:机构投资者具有有意抑价的激励;当机构投资者与散户对新股价值不存在分歧时,IPO抑价中只有有意抑价,而无无意抑价;当机构投资者与散户对新股价值存在分歧时,分歧越大,IPO抑价越高,而抑价中的有意抑价不变、无意抑价增大。     

中国股市存在"特质波动率之谜"吗?

文章讨论了中国股市是否存在特质波动率之谜,实证结果表明,滞后的特质波动率并不是预期特质波动率的一个好的估计值。所谓特质波动率之谜是由于研究者错误地使用滞后的特质波动率来取代预期特质波动率而出现的伪现象。文章采用对每支股票的对数特质波动率序列建立ARMA模型的方法提取预期特质波动率,并利用横截面回归研究预期特质波动率与预期收益率之间的关系,研究结果表明两者之间存在显著的正向关系,这种正向关系即使在考虑了各种控制变量并经过稳健性检验之后仍然成立。     

异质性生产率、货款回收与中国企业出口

采用2005-2008年东三省持续存在的8 932家企业面板数据,本文检验了生产率和货款回收因素在出口中的作用,发现出口企业的全要素生产率、货款回收率都高于非出口企业,这说明该地区并不存在出口"生产率悖论;"高生产率和规避国内账款回收困难是企业出口的决定因素,通过对应收账款的内生性分析发现这一结果是稳健的;企业所有制性质、企业规模也会促进出口,而利润和企业成立年限对出口的影响并不显著。因此,提升企业效率、改善企业运行机制、健全社会信用制度是我国亟待解决的现实问题。     

基于HAR—RV模型的中国证券市场异质性研究

随着高频数据可以越来越方便的获得,过去的ARCH模型及GARCH模型已经不能满足高频数据研究的需要。相比于模型波动率,已实现波动率能够更直接、准确地描述波动率的特征。研究表明,已实现波动率具有长记忆特性,其解释之一即为异质市场假说,即市场中存在异质交易者。文章选取了HAR—Rv模型对已实现波动率进行建模,并且通过回归分析,证明了我国股票市场交易者存在异质性。     

欠发达地区劳务外包发展前景与对策——重庆市垫江县劳务外包调研报告

在政府的大力支持下,通过代理商的积极作用,重庆市垫江县劳务外包迅速兴起。垫江县的劳务外包通过主动承接发达地区的企业外包业务,开创了农村剩余劳动力转移“离土不离乡”的新模式,开辟了一条发展县域经济,尤其是县域工业经济的新路。垫江县的劳务外包还处于业务外包的低级阶段,一方面要继续扩大劳务外包,另一方面应从低级向高级阶段升级,积极发展生产外包和物流外包。垫江县要对业务外包进行长期的科学规划;建立完善业务外包信息网络平台;制定税收、土地等方面的优惠政策,鼓励乡、镇、村级建立比较集中的、有固定场所的劳务加工点,并鼓励农民购买机器设备、建立微型家庭工厂,促进劳务外包的升级发展;进一步发挥政府主导作用,激励、扶持代理商,并加强对代理商、村长及农民的相关培训。     

Industrialization and environmental externalities in a Solow-type model

In this paper we examine the role played by environmental externalities in shaping the dynamics of an economy with two sectors (a farming sector and an industrial one), free inter-sectoral labor mobility and heterogeneous agents (workers/farmers and industrial entrepreneurs). We find that, in the presence of the environmental pressure of the economic activity of the industrial sector, the stability properties of the equilibria and their features in terms of environmental preservation, welfare outcomes and sectoral allocation of labor are sensitive to the level of carrying capacity. We show that an endogenous process of industrialization associated with a reduction in farmers/workers׳ welfare can emerge.