Does local government competition aggravate haze pollution? A new perspective of factor market distortion

Haze pollution has become a new threat to China's sustainable development, but it may be that local government behaviour can play an important role in the prevention and control of pollutants. A dynamic spatial autoregressive (SAR) model is used to study the relationship between local government competition and haze pollution. To further explore the indirect impact of factor market distortion on haze pollution and control potential endogeneity problems, a newly developed intermediary effect model that incorporates the characteristics of the generalized method of moments (GMM) is utilized to explore how factor market distortion indirectly affects haze pollution. The research results show that regional haze pollution in China is characterized by significant spatial correlation, and local government competition has a positive impact on haze pollution; that is, local government competition exacerbates haze pollution. In general, local government competition not only directly leads to an increase in haze pollution but also further intensifies it by distorting the local factor market, and the intermediary role of factor market distortion is approximately 7.04%. The results of the regional inspection found that competition among local governments in the eastern region did not lead to haze pollution, and distortion of the factor market did not exist as an intermediary effect. However, both direct and intermediary effects are significant in the central and western regions. Therefore, an official performance appraisal system that includes ecological constraints should be established to guide the benign transformation of local government competition, and an environmental management mechanism must be developed for joint prevention and control to reduce haze pollution. In addition, the free flow of factors and marketization are equally important.     

深化学科认知与构建中国特色社会主义政治经济学理论体系

对学科的认知包括认识学科内涵、学科性质与任务、学科发展进路等核心问题,关系到如何构建学科体系,是学科建设的重要内容。从深化学科认知的视角,中国特色社会主义政治经济学的学科发展与理论体系构建,要坚持几个重大原则,包括把中国特色社会主义政治经济学建立在历史唯物主义的基础之上;要以生产关系分析为核心来构建中国特色社会主义政治经济学的理论范式;坚持以人民为中心是中国特色社会主义政治经济学的本质属性;把共同富裕作为中国特色社会主义政治经济学的逻辑主线;以问题为导向研究新时代中国特色社会主义建设的重大理论与实践问题;《中国特色社会主义政治经济学》教材要体现学科的创新发展。     

2019年土地科学研究重点进展评述及2020年展望——土地经济分报告

研究目的：梳理并比较2019年国内外土地经济领域研究进展和研究重点，展望未来研究方向。研究方法：文献分析法。研究结果：2019年，国内研究以实践探索为主，集中于土地供给对房价的影响、土地流转意愿、产权与农户投资、征地的福利效应和宅基地制度改革；国外研究则在理论和实践两个方面有所突破，关注影响城市地价的因素、发展中国家土地市场发展、产权与女性福利、土地改革的发展方向等。研究结论：2019年，土地经济在基础理论和实践探索方面取得了新进展，仍需加强对国内外相关研究和土地经济发展规律的总结；2020年将重点关注土地经济领域的基础理论研究、土地经营权流转及权益实现、承包地和宅基地“三权分置”、共享理念下的土地收益分配机制、城乡建设用地市场建设、低效用地再开发与利益协调机制、土地产权制度改革和确权登记等问题。     

Tick size and market quality: Simulations based on agent‐based artificial stock markets

This paper investigates the way that minimum tick size affects market quality based on an agent‐based artificial stock market. Our results indicate that stepwise and combination systems can promote market quality in certain aspects, compared with a uniform system. A minimal combination system performed the best to improve market quality. This is the first study to analyse tick size systems that remain at the theory stage and compare four types of system under the same experimental environment. The results suggests that a minimal combination system could be considered a new direction for market policy reform to improve market quality.     

农地发展权流出、资本回流与区域经济增长*——基于重庆市的实证研究

[目的]以重庆市为研究区域,以农地发展权资本化的地票指标为研究对象,从理论和实证层面探讨农地发展权交易与资本要素的城乡互动关系及其对区域经济增长的影响,为进一步优化农地发展权交易政策、促进区域均衡发展提供相关建议。[方法]基于2008—2017年城乡统筹改革试验区重庆市地票指标交易的面板数据,运用要素禀赋理论和差分GMM模型从理论和实证层面分析农地发展权流出区土地与资本要素的互动关系及其对区域经济增长的影响。[结果]基于区域间资源禀赋的差异及要素相对价格的分化,在市场机制作用下,农地发展权指标将以配置效率优化为导向在不同区域间自由流动。[结论]短期内,由于资本约束,流出农地发展权的区域其经济增长会受到抑制;而当农地发展权指标资本化后,流出区获得了较为稀缺的货币资本,农地发展权流出将显著促进地方经济增长;同时,在研究时期内,由于农地发展权市场交易机制的构建,重庆市地方经济增长存在显著的收敛效应,区域间经济发展差距将会逐步缩小。     

Feeling trusted and taking-charge behaviour: An internal branding perspective based on self-categorization theory

Although the mechanism of internal branding is related to both organizational factors and employees’ personal factors, the existing research mainly focuses on organizational factors. Thus, the literature on the formation and function of internal branding from the employee perspective is scarce. In this multisource study, we applied self-categorization theory to test the relationships among employees’ feeling trusted, perceived insider status, self-efficacy and taking-charge behaviour within the framework of internal branding. Data from 169 employee-supervisor dyads from the hotel industry in Northwest China revealed that employees’ perception of feeling trusted is an important factor that causes them to internalize their hotel employer’s brand and categorize themselves as “insiders” who regard the hotel brand as part of themselves and present brand-aligned behaviour to achieve brand success. In addition, employee self-efficacy is an important boundary-level variable that facilitates the transformation of brand internalization to brand-aligned behaviour. The theoretical and practical implications are discussed.     

Do foreign exchange forecasters apply asymmetric loss functions? Evidence from three major exchange rates

This article investigates which type of loss function is consistent with the hypothesis that major exchange rate forecasts, i.e. the euro, the British pound, and the Japanese yen vis-à-vis the US dollar, are rational. We apply a comprehensive data set, which also allows us to examine different forecast horizons and heterogeneity of forecasters.     

Market impact: a systematic study of the high frequency options market

This paper deals with a fundamental subject that has seldom been addressed in recent years, that of market impact in the options market. Our analysis is based on a proprietary database of metaorders—large orders that are split into smaller pieces before being sent to the market—on one of the main Asian markets. In line with our previous work on the equity market [Said, E., Bel Hadj Ayed, A., Husson, A. and Abergel, F., Market impact: A systematic study of limit orders. Mark. Microstruct. Liq., 2018, 3(3&4), 1850008.], we propose an algorithmic approach to identify metaorders, based on some implied volatility parameters, the at the money forward volatility and at the money forward skew. In both cases, we obtain results similar to the now well-understood equity market: Square-Root Law, Fair Pricing Condition and Market Impact Dynamics.     

浅谈基于大数据背景下的数字经济发展——以数字电网为例

我们已经进入了一个全新的大数据信息化时代,充满了更多的机遇与挑战。大数据及数字经济的出现极大程度地改变了传统技术及工作思维的方式。数字经济是继工业和农业之后的又一大经济形态,为社会的经济增长提供了新的动力。通过分析电网行业传统的科学技术及作业方式,论文简要阐述了基于大数据信息化发展下电网的影响,并认为信息化技术的发展对于数字经济有着至关重要的影响及重要性。最后论文讨论了数字经济发展存在的问题及方向。     

新冠疫情对我国中小企业经济状况的影响及对策分析

2020年以来,新冠疫情对我国中小企业的影响巨大。论文从收入、成本、现金流三个方面分析了疫情下我国中小企业的现状及可采取的对策,以期助力中小企业渡过难关。