Commemorating the 50‐Year Anniversary of Ball and Brown (1968): The Evolution of Capital Market Research over the Past 50 Years

We commemorate the 50th anniversary of Ball and Brown [1968] by chronicling its impact on capital market research in accounting. We trace the evolution of various research paths that post–Ball and Brown [1968] researchers took as they sought to build on the foundation laid by Ball and Brown [1968] to create a body of research on the usefulness, timeliness, and other properties of accounting numbers. We discuss how those paths often link back to the groundwork laid and questions originally posed in Ball and Brown [1968].     

成渝经济区生态农业对区域经济影响分析

[目的]区域经济发展反映经济各个方面的综合发展状况,探讨其影响因素以确定区域未来经济的发展方向,为进一步规划发展提供科学依据。[方法]先构建生态农业评价指标体系再采用层析分析法确定权重,结合线性加权和函数计算生态农业评价指数,通过相关分析法分析生态农业各个指标与区域经济的关系,最终确定生态农业对成渝经济区经济的影响程度。[结果]生态农业指标中评价指数大于0.9是森林覆盖率,介于0.8~0.7的包括投入产出比、土地生产率、农业科技贡献率、万人拥有的科技人员、劳动生产率、化肥施用量。且生态农业中各个指标与GDP都正相关,其中森林覆盖率、人均收入增长率、农业科技贡献率和万人拥有的科技人员与GDP显著相关,对区域经济的影响最大。[结论]成渝经济区经济受生态农业的影响,进一步选取更多生态农业相关因素,对于全面促进区域经济持续发展具有十分的重要现实意义。     

Myopia and saliency in renewable resource management

An important challenge in managing renewable resources is to understand why owners and managers sometimes make decisions that deplete resources and future earnings, such as when graziers allow pastures and land condition to be degraded. In this paper, we test two potential reasons for unsustainable management practices, myopia and salience, with each explaining why resource managers may exhibit impatience in harvest decisions. Myopia is associated with decision makers placing lower weight on future outcomes than would be implied by their pure time preference. Salience is associated with overweighting of consumption ‘now’, implying inconsistency in time preferences. To test for these effects on renewable resource management, an incentivised, dynamic field experiment was carried out with rangeland grazing enterprise owners in north‐eastern Australia that related management choices with uncertain rainfall events to both profits and land condition over time. Results demonstrate that respondents exhibiting myopia/salience in their choices tended to achieve lower cumulative scores in the experiment, as well as lower land conditions on their properties as measured with remote sensing data. Our results explain why there may be persistent optimisation failures by resource owners that reduce both profits and environmental outcomes.     

海南省旅游业发展对经济增长的拉动效应研究

[目的]海南当前处于国际旅游岛建设和全面建成小康社会的关键时期,旅游业作为海南省的主导产业对海南经济发展的支撑作用显著增强,在此形势下,分析旅游业发展对海南经济增长的拉动效应,有利于为进一步提升旅游业对海南区域经济发展的影响,促进区域经济发展和经济结构转型,提出科学可行的对策和建议。[方法]文章从时间和空间两个维度,运用旅游业依存度、贡献率和拉动率3个指标,以旅游收入与地区生产总值等统计指标为基础,探讨了海南省旅游业对经济增长的拉动效应。[结果]从时间维度来看,海南省旅游业对地区经济增长的拉动作用进一步加大;从空间维度来看,海南省旅游业的拉动效应并不突出;从市(县)域维度来看,海南省各市(县)旅游业对经济增长拉动效应存在空间差异,东部地区拉动效应持续增长,中部地区增长势头迅猛,北部地区增长缓慢。[结论]不断完善海南旅游基础设施与管理体系;要不断细分和规范旅游产品,提升旅游产品的吸引力和复购率,完善营销及咨询服务体系;注意与其他产业的协调发展,加强与周边省份的交流与合作,省内要因地制宜,挖掘各地旅游业发展特色,推动各市(县)均衡发展,以进一步加强海南省旅游支柱产业的作用,并快速实现区域经济跨越式发展。     

区域经济发展不平衡与土地违法：基于地方政府经济增长激励的视角

研究目的:探究地方政府经济增长激励背景下,区域经济发展不平衡对土地违法行为的影响。研究方法:基于经济和社会科学领域有关发展不平衡及其影响效应的理论观点,结合中国特定的地方政府经济增长激励机制,以及土地利用与管理实际,探讨区域经济发展不平衡对土地违法行为的影响机理,并通过构建计量经济模型进行相应的实证检验。研究结果:区域内部经济发展差异的扩大确实会导致更多土地违法案件的产生和违法用地规模的增加;另外,在不同经济发展地区,区域内部经济发展差异变化对土地违法的具体影响有所不同。发达地区内部经济发展差异的扩大对土地违法的影响主要表现在违法面积上,而欠发达地区内部经济发展差异的扩大对土地违法的影响则主要表现在违法案件数上。研究结论:区域经济发展不平衡是导致土地违法行为的重要因素之一,促进和实现地区间的均衡发展有助于减少土地违法现象。     

The development trinity: How regional integration impacts growth,inequality and poverty

Developing countries today have become more active participants in regional trade agreements. This raises questions about how the benefits of integration are distributed, and the extent to which lower‐income countries are able to capture development gains. Historically, such impacts have been difficult to identify with precision. This paper seeks to address this gap by empirically analysing the impact of regional integration on development, particularly the effects on growth and welfare. Using both bilateral and regional integration measures, we show that the ability to capture gains from integration varies across developing country regional groups, with developing Asia benefiting on par with developed countries. The findings in the paper indicate that trade and trade policy play an important role in reducing inequality and poverty in developing countries. It also shows that regionalism can function as a channel to make multilateralism a more adept way of addressing national challenges.     

Challenges for regional science research: past and present

With regional science now into its seventh decade, it is timely to step back and look at what regional science is about, the past challenges it has faced, particularly its relevance, and to identify some of the challenges it has confronted in the past and at present. The paper demonstrates regional science research has had, and continues to have, policy relevance, as well as being relevant for business, and has addressed important issues. It provides an overview of recent commentaries on issues regional scientists might now be addressing.     

社会资本视角下棚户区改造PPP项目风险分析

为了降低棚改PPP项目中的风险,提高社会资本参与棚改PPP项目的积极性,以社会资本方为研究视角。通过文献回顾和案例分析,总结社会资本参与棚改PPP项目面临的主要问题,筛选出社会资本参与棚改PPP项目面临的17个主要风险因素;运用DEMATEL法分析各风险因素的重要程度及相互影响关系,确定政府信用风险、相关法律法规不健全风险、市场收益不足风险、规划设计风险为关键风险因素;针对关键风险因素提出社会资本方防范措施,即多举措并举、细化合同条款、合理界定棚改PPP项目使用者付费范围、选择实力强的设计院是防范社会资本的有力措施。研究结果为分析棚改PPP项目风险提供了新思路,有助于提高社会资本参与棚改项目的积极性,所提对策对社会资本合理规避棚改PPP项目关键风险具有重要的借鉴意义。     

Arena-based events and crime: an analysis of hourly robbery data

This article makes use of hourly crime counts to model the relationship between events that take place at the Prudential Center in Newark, NJ and robberies, an arena that has caused local controversy regarding the costs and benefits of hosting such an entertainment venue. Results from the econometric model suggest that the NHL’s New Jersey Devils ice hockey games, concerts, and Disney-themed events are all associated with increases in robbery, while various other event categories such as the NBA basketball games played by the Nets and boxing, and mixed martial arts (MMA) matches are not associated with an increase. These findings support two complementary ecological theories of crime that focus on how events provide additional opportunities for crime by increasing the associated benefits while simultaneously decreasing the cost for economically motivated offenders to take advantage of.     

Effects of pro-growth policies on employment: evidence of regional disparities

The main objective of our research is to study the direct impact of pro-growth economic policies on employment creation globally and regionally, as evidence has countered policy-makers’ expectation that output growth leads automatically to job creation. We innovate by using the ratio of employment to the population above 25 years as dependent variable instead of the customary employment elasticity. We apply generalized methods of moments’ econometrics on dynamic panel data models and find that growth stimulates employment creation on average across 76 countries. The policies promoting private sector credit, investments, openness, services, education spending, tertiary enrollment, and a fixed exchange rate are the ones that create employment. Larger government size undermines job creation, while policies promoting FDI and industrial development fail to stimulate employment. However, we establish that the effect of pro-growth policies on employment varies significantly across regions, with evidence of weaker links between economic policies and employment in Sub-Saharan Africa and the Middle East.