Brexit and its economic consequences

As the formal process of Brexit has already started, there is much uncertainty about Brexit's impacts on Britain's social, political and economic future. This paper examines the economic impact. After briefly discussing some significant EU treaties that serve as the background materials, it presents the key arguments advocated by the leave and remain camps. The economic impact depends critically on the negotiation outcomes. Aside from the debate on the divorce costs, there are numerous issues that must be negotiated, such as immigration, trade in goods, services, agriculture, fisheries and financial regulations. We discuss various scenarios of possible new trade regimes, resulting in different impacts on the UK economy. With each side having its bargaining chips to play, the trade‐offs between “give and take” in the negotiation game are analysed. Considering various strategic options, this paper urges rationality and cooperation, especially weighing both sides’ entwined economic interests, in addition to their mutual security, defence, environmental and world concerns. The potential gains and losses in the event where the UK contemplates new trade arrangements with the non‐EU countries are analysed in the Appendix .     

The opportunity not taken: The occupational identity of entrepreneurs in contexts of poverty

Innovative entrepreneurship is an essential but often missing outcome of poverty alleviation efforts. This qualitative study set in rural Ghana explores the occupational identity of entrepreneurs, the institutions that shape it in isolated “island networks”, and how it influences entrepreneurs' practices and decisions. We find that the institutional forces of “collectivism” and “fatalism” feature prominently. Being an entrepreneur in such settings means being a mentor, market link, and community safety net, and the types of opportunities entrepreneurs pursue are largely seen as pre-destined and inherited rather than individually chosen. As a result, the pursuit of innovative opportunities may be significantly limited.     

创新战略下的英国研发组织创新——Catapults的组织管理模式研究

Catapults（弹射中心）作为一种新型研发组织形式，在英国创新发展战略的实施中扮演着重要角色。精准的组织功能定位、高效的组织管理运作模式和紧密的网络化组织关系，是Catapults组织管理模式创新的重要三大重要内容。为我国新型研发机构的培育和发展提供了良好的参考样本。     

The Impact of Public Expenditure and International Trade on Agricultural Productivity in China

The “industry nurturing agriculture” reforms and World Trade Organization accession led to dramatic growth in public expenditure and international trade in China’s agricultural sector. This article aims to estimate the effects of public expenditure and trade on agricultural productivity in China for 2004–2015. A semi-parametric production function with shape constraints is introduced to derive more accurate productivity before the productivity determinants are analyzed with an emphasis on public expenditure and trade. The empirical result shows that public expenditure and exports can effectively improve agricultural productivity, while imports have no significant effects. Policy implications are discussed in the context of supply-side reforms.     

西北生态山岳旅游健康发展评估

生态山岳的旅游健康发展程度对山地旅游资源的可持续利用具有重要的影响。采用层次分析法和熵权法对2018年西北地区的华山、麦积山和天山天池的旅游生态健康进行了分析。结果表明:三大山岳景区旅游健康发展均处于健康状态;在资源健康方面,天山天池表现为非常健康,华山和麦积山处于健康等级;在环境健康方面,麦积山处于非常健康,华山和天山天池处于健康等级;在经济健康和旅游社会方面,三大景区均表现为健康。     

To Be or Not to be Temp? An Analysis of the Moderating Role of Motives for Accepting Temporary Employment

We investigate the role of contract volition and motives for accepting temporary employment in the relationship between precariousness of life and negative psychological symptoms in a sample of 275 Italian temps. Results suggest that the negative effect of contract volition on negative psychological symptoms is partially mediated by precariousness of life. A moderated mediation model shows that specific motives moderate the negative effects of contract volition on precariousness of life, so that when contract volition is higher, workers with weaker motives feel less precarious. This study broadens our understanding of temporary employment outcomes by showing that the negative consequences of precariousness of life seem to be less troublesome among temporary workers with higher contract volition and lower motivation. © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

制度差异、“一带一路”倡议与中国大型对外投资——基于投资边际、模式与成败的三重视角

本文基于2005—2016年中国609个企业2 440个大型对外投资微观样本，全面考察正式与非正式制度差异对企业投资边际、模式与成败的影响。研究发现：正式制度差异对投资规模化的影响不大，但显著影响投资多元化。企业为了避免正式制度差异带来的管理风险，倾向于选择全资股权结构，但企业选择绿地投资还是跨国并购并不受到正式制度差异的影响。相比之下，非正式制度差异的影响更为广泛。无论是正式制度差异还是非正式制度差异，均会显著增加企业投资的失败概率。进一步研究发现，“一带一路”倡议主要对正式制度差异存在优化互补效应。研究结论表明，夯实“一带一路”倡议，尤其大力发展与沿线国家的文化深度交流，有助于企业更快、更好地走出去。     

The impact on stock prices of deferral and elimination of internal control audit requirement for small firms

This paper examines the cumulative market reaction to the events related to deferral of internal control audit requirement under the Sarbanes-Oxley Act of 2002 and its elimination under the Dodd-Frank Act of 2010 for nonaccelerated filers (small firms). We document that small firms experienced negative cumulative abnormal returns around these events; and the differences between the cumulative abnormal returns for small firms and the two control groups (accelerated and large accelerated filers) were negative and significant at the 1% level. These results support the notion that market participants value the reliability of financial information irrespective of the firm size. Within the small firms, we find no firm characteristic significantly explains the market reaction to the events considered. That is, all small firms lost market value in reaction to the events that delayed and eliminated their internal control audit requirement.     

What determines international tourist arrivals in India?

Using data for 18 major tourist originating countries to India from 2001 to 2015, this study examines the major determinants of international tourist arrivals in India. The results indicate that past experiences of the tourists, per capita income in the tourist originating country, relative costs of living between India and the country of origin, and the level of infrastructure development in India are key determinants of international tourist arrivals in India. Furthermore, both transportation and communication infrastructure are important in attracting tourists to India. In particular, evidence suggests that availability of road and air network and telephone connections has favourable impacts on international tourist arrivals in India. These results are robust to the inclusion of additional variables. These results have important policy implications.