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。     

A Multicriteria Approach for Modeling Small Enterprise Credit Rating: Evidence from China

ABSTRACT

As the engine of China’s economy, small enterprises have been the central to the country’s economic development. However, given the characteristics of the small enterprises loan (i.e., short borrowing period, large volume, small amount and incomplete information), it is extremely challenging for financial institutions to assess their creditworthiness. Thus, it seriously delays and restricts the financing access for small enterprises. In an attempt to relieve the financing difficulty of small enterprises, this article makes use of 687 small wholesale and retail enterprises in a regional commercial bank in China, to establish a credit rating indicator system composed of 17 indicators by using both partial correlation analysis and probit regression. It then utilizes TOPSIS together with fuzzy C-means to score the credit ratings of our sample of small enterprises. With the dual test of default discrimination and ROC curve, the prediction accuracy of the established indicator system has reached 80.10% and 0.917, respectively, indicating the robustness and validity of our credit rating system.     

In the line of fire: managing expatriates in hostile environments

Abstract

This study explores best practice in the preparation and protection of strategic HRs deployed by Multinational corporations (MNCs) in hostile environments. By building on the literature from the areas of strategic and IHRM, expatriation, as well as risk and crisis management, the limitations and gaps of the extant research are highlighted. This provides a foundation for our investigation through a series of in-depth interviews with corporate executives, and insurers and relocation specialists with professional expertise in protecting and supporting HRs. This represents the first time such a detailed picture of the partnerships between MNCs and the specialists, required to deliver preparation and protection in hostile environments, has been depicted in the IHRM literature. The findings identify the challenges MNCs face when protecting their HRs and highlights the importance of specialist expertise, knowledge, and management. A framework for managing HRs within international hostile environments is subsequently developed offering an opportunity to systematically consider some of the ethical and strategic issues associated with the contemporary challenges of international mobility.     

众创空间集聚的连续距离测度及影响因素分析

基于253家浙江省众创空间的微观数据，文章在运用连续距离的测度方法测算众创空间集聚水平的基础上，采用零膨胀负二项回归等方法实证分析众创空间集聚的影响机制。研究发现，众创空间的地理分布存在显著的区域差异，主要分布在杭州和宁波市辖区，选址具有明显的集聚特征。回归结果显示，区域创新能力和生态环境均对众创空间的地理集聚具有促进作用，但两者之间存在明显的替代效应；尽管不能直接促进众创空间的集聚，政策引导与创新能力之间具有较显著的互补效应。据此，文章从培育创新能力和优化创新激励等方面提出了政策建议。     

陕西农村居住地生态环境影响因素分析

[目的]随着农村城镇化进程的加快,由此引发的农村居住地生态环境恶化已成为制约农业和农村经济可持续发展的瓶颈,加强农村居住地生态环境保护和治理,是目前亟待解决的重要问题。研究分析农村居住地生态环境影响因素,为有效改善居住地生态环境提供重要理论依据。[方法]以陕西省为主要研究区域,采用层次分析法,构建矩阵模型,研究影响陕西省农村居住地生态环境的农民因素、生产活动和政府因素3个层次,包括周边乡镇企业废物排放、农用投入品的使用、畜禽养殖业废物排放、人均消费支出、农村人均家庭纯收入、农村家庭恩格尔系数、环保意识、政府监管力度、环境保护财政支出,相关政策法规等10个因素所占权重,得到不同因素的重要性排序。[结果]乡镇企业废物排放、农用投入品的使用、农村人均家庭纯收入和农村人均消费支出是影响农村居住地生态环境的主要因素,且重要性排序为乡镇企业废物排放农用投入品的使用农村人均家庭纯收入农村人均消费支出。[结论]加强乡镇企业废物排放管理和农用投入品的生产和使用审查,降低不必要的消费支出,同时为农民提供更多的就业机会,提高人均家庭村收入,是目前改善农村居住地生态环境的有效措施,为农民提供一个安全舒适的居住场所,这也将有利于农村经济的可持续发展。     

Board directors with foreign experience and stock price crash risk: Evidence from China

This study examines the impact of board directors with foreign experience (BDFEs) on stock price crash risk. We find that BDFEs help reduce crash risk. This association is robust to a series of robustness checks, including a firm fixed effects model, controlling for possibly omitted variables, and instrumental variable estimations. Moreover, we find that the negative association between BDFEs and crash risk is more pronounced for firms with more agency problems, weaker corporate governance, and less overall transparency. Our findings suggest that the characteristics of board directors matter in determining stock price crash risk.     

Semistatic hedging and pricing American floating strike lookback options

We price an American floating strike lookback option under the Black–Scholes model with a hypothetic static hedging portfolio (HSHP) composed of nontradable European options. Our approach is more efficient than the tree methods because recalculating the option prices is much quicker. Applying put–call duality to an HSHP yields a tradable semistatic hedging portfolio (SSHP). Numerical results indicate that an SSHP has better hedging performance than a delta-hedged portfolio. Finally, we investigate the model risk for SSHP under a stochastic volatility assumption and find that the model risk is related to the correlation between asset price and volatility.     

Exploring job crafting: Diagnosing and responding to the ways employees adjust their jobs

Recent research has developed an in-depth understanding of how workers change their jobs on their own to improve their performance and well-being, a process called job crafting. This research suggests that managers, coworkers, and organizations need a better understanding of how to manage job crafting to capitalize on its benefits and reduce costs. This article will help organizations diagnose the occurrence of job crafting, recognize the differences between goal-oriented approaches to job crafting as opposed to withdrawal-oriented avoidance job crafting, and identify the seven specific types of job crafting: work role expansion, social expansion, work role reduction, work organization, adoption, metacognition, and withdrawal. We conclude with recommendations for managers, coworkers, and organizations on how to diagnose and manage job crafting.     

系统性金融风险的历史考察与防范对策

深入学习习近平在中国共产党第十九次全国代表大会上的报告，在考察20世纪以来的12次金融危机的基础上，对系统性金融风险发生的根源进行了研究，并结合我国当前系统性金融风险面临的形势，提出了防范系统性金融风险的对策建议。研究表明，将过去100多年引发金融危机的系统性金融风险的根源与我国当前的金融形势进行比较分析，可以发现我国面临的系统性金融风险形势十分严峻，必须在党的领导下，采取打击金融腐败、适当收紧货币政策、完善金融监管体系、维护币值稳定、加强金融科技监管等相关政策来防止系统金融风险的发生。     

Risk assessment for public–private partnership projects: using a fuzzy analytic hierarchical process method and expert opinion in China

Public–private partnerships (PPP) have been widely used in China to procure public facilities and services. Complicated problems in PPP projects in China arise because of a variety of risk factors. A proper risk assessment model is needed to identify risks and provide risk response strategies for future Chinese PPP projects. The fuzzy analytic hierarchy process (F-AHP) method provides the ability to solve complex risk assessment of PPP projects. Current risk assessment models are limited to PPP projects in specific countries and do not consider unique risks in China, especially political, economic, social, and legal risks. This paper designed a risk evaluation index system for PPP projects based on the Delphi expert investigation method, and then established an optimized risk evaluation model for PPP projects in China using the F-AHP method. The risks identified are confirmed by interviewing experts from Chinese local government departments, private enterprise, third-party intermediary consulting and regulatory agencies, and academic organizations. The results show that the risks that ranked among the top ten are closely related to China’s political and economic policies and relationships among stakeholders. It can be concluded that government authorities play a critical role in providing a favorable political, social, and economic environment and an effective institutional framework for PPP projects. Furthermore, it is also important to deal with relationships among stakeholders based on the public–private ‘win–win’ principle. This study provides risk response strategies, addressing key issues from eight aspects: an impeccable legal and regulatory framework; a central coordinating and regulating PPP authority; supportive governmental authorities; institutional capacity-building; favorable economic conditions and viability; community, partner, and moral accountability; clear division of responsibilities through contracts; and effective advisory management. These effective measures may be useful in reducing the adverse effects of risk for PPP projects in China.