户籍制度扭曲及放松对经济的影响:理论与实证

户籍制度是我国劳动力流动的主要障碍.那么,当前我国的户籍扭曲程度几何?户籍制度放松对经济又会有怎样的影响?对这些问题的回答将有助于政府评估户籍制度改革的空间和经济效益.文章在Hansen和Prescott(2002)的两部门劳动力流动模型基础上,将工人分为农业和非农户口,引入户籍扭曲因子,构建两部门两类工人的户籍扭曲模型;然后,使用1984?2013年宏观经济数据度量户籍扭曲程度,并对2013年我国户籍制度逐渐放松过程中经济变量的变化进行模拟;最后,文章建立了包含"农业与非农"和"本地与外地"户籍差异的省份异质性户籍扭曲模型.研究表明:(1)经济和户籍制度改革的不同步导致了1984?2013年我国户籍扭曲程度呈现倒"U"形变化,且相较于韩国尚有较大的改善空间;(2)以韩国为参照,若2013年我国户籍制度完全放开,经济达到均衡时,农业部门和非农部门的就业人数将分别下降58.83%和上升26.92%,工资率将分别上升19.44%和下降6.77%,社会增加值将增长15.33%,这说明社会经济效率将得到提升,贫富差距将缩小.文章丰富和完善了户籍扭曲的理论模型,从减少劳动力流动摩擦的视角为政府制定相关政策提供了参考.     

Workplace Injury and the Failing Academic Body: A Testimony of Pain

Journal of Business Ethics - In its three decades of development, many constructs of cause-related marketing have been tested from different perspectives and in varied contexts. However, there has...     

经济政策不确定性与企业员工配置——来自沪深上市公司的经验证据

企业员工配置是企业内部管理的重要一环,经济政策不确定性是否会影响企业员工配置?本文以员工数量衡量企业员工配置,利用2010-2018年沪深A股上市企业数据和经济政策不确定性指数建立面板数据模型,考察经济政策不确定性对企业员工配置的影响,实证研究发现:经济政策不确定性会显著增加企业员工配置,且该影响经更换变量、调整样本容量以及内生性处理后依旧显著,该反应在还债能力较弱、盈利能力较差、股权制衡度较高、地区经济发展水平较低的企业中更为明显。文章的研究结论对于企业管理和宏观经济管控有一定的参考价值。     

Evaluation method of benefits and efficiency of grid investment in China: A case study

The existing evaluation system for power grid investment in China has not combined measures of the investment benefits and investment efficiency very well and it lacks practical reference value. This article proposes an improved evaluation index system of the benefits and efficiency of power grid investment projects. The system divides the evaluation method into indexes. This includes the basic indexes, modification indexes, and appraisal indexes that evaluate the economic and environmental benefits of the investment projects comprehensively. It considers the overall efficiency in terms of the economy, technology, and society. It combines an absolute efficiency evaluation model with a data envelope analysis relative efficiency evaluation model. Finally, the benefits and efficiency of investment of an actual power grid project are evaluated through a case study. The results show the practical value of the proposed efficiency evaluation method for evaluating investment projects in a power grid.     

Impulse response function analysis of the impacts of land value-added tax policy on government performance

In this study, an epsilon-based network data envelopment analysis is employed to construct assessment mechanisms for government performance. Moreover, performance indicators of two dimensions of tax collection efficiency and financial effectiveness are measured. We propose a vector autoregression model in which all economic variables are regarded as dependent variables to address the disadvantages of traditional regression model. The conclusions are as follows: (a) measures of tax collection efficiency deteriorated, whereas those of financial effectiveness improved. (b) In an impulse response analysis of the model, an increase in government-published land values produced significantly increased tax collection efficiency.     

Communication and Comovement: Evidence from Online Stock Forums

We study investor communication and stock comovement using a novel data set from an active online stock forum in China. We find substantial comovement among the returns of a stock and its “related stocks,” which are frequently discussed in the subforum dedicated to the given stock. Comovement is greater when the discussion of related stocks is more intensive. Further, the effect of communication on comovement is stronger for stocks associated with higher information uncertainty. Codiscussed stocks are more actively traded and experience more correlated trading. A trading strategy that exploits communication‐driven comovement generates abnormal returns. Our findings highlight the impact of investor communication on asset comovement.     

The Effects of Search-Related and Purchase-Related Mobile App Additions on Retailers’ Shareholder Wealth: The Roles of Firm Size,Product Category,and Customer Segment

Mobile channel additions have been shown to increase consumer-brand relationships, brand satisfaction towards and overall purchasing from a retailer, but what is less apparent is whether shareholders are fully rewarded for retailers’ mobile channel additions. Results from an event study on 115 announcements relating to mobile app additions of publicly traded U.S. retail firms between 2009 and 2016 indicate that the stock market responds generally positively to mobile app additions, but specifically to the two mobile app addition types. Stock market responses to search-related and purchase-related app additions are moderated by firm size, product category, and target customer age. For announcements of search-related apps, the market responds more positively to product retailers than to service retailers, and to small firms than large ones. For announcements of purchase-related apps, the market responds less positively to firms that target younger customers than firms who do not especially target them.     

DO FIRMS SEEK A TARGET BOARD STRUCTURE? EVIDENCE FROM THE POST‐SOX PERIOD

We investigate whether firms restructure board composition to align with changes in their contracting environment. Board size and independence increase with firm complexity, consistent with theoretical predictions. However, the hypothesized negative relation between board independence and information costs is evident only for firms completing acquisitions. Furthermore, board independence increases to offset increases in CEO power in a sample of firms making acquisitions, but decreases when CEO power increases in a large cross‐section of firms. We conclude that after the Sarbanes–Oxley Act of 2002, firms face constraints adjusting to target board structure, but these constraints can be mitigated by a shock to the contracting environment via acquisition.     

The Short-Selling Hypothesis of Weekend Effect and T + 1 Trading Mechanism

Asia-Pacific Financial Markets - Utilizing a difference-in-difference regression model, we conduct cross-sectional and time-series analysis to explore effect of short sales on the weekend effect in...