我国数字经济发展战略与路径研究--基于国际经验的考察

当前我国经济正处于增速放缓、结构升级及经济发展动力转换的新常态阶段。寻找新的经济增长点和新动能是经济新常态时期的重要任务和目标,而发展数字经济则是目前最优的经济发展模式。2017年数字经济被写入政府工作报告,预示着数字经济作为继农业经济和工业经济发展模式之后的又一新型社会经济发展形态,已成为新常态下中国经济发展的新动能,也是推动我国供给侧结构性改革的重要抓手。但数字经济模式属于新型经济发展模式,目前尚无一个完整的发展参考体系,需要我国自寻探究发展道路。由此,本文在研究数字经济内涵及其战略意义的基础上,基于我国数字经济发展现状和国外发展战略提出了我国数字经济的具体发展路径。     

融资约束下企业社会责任信息披露质量与创新持续性

利用2012-2016年我国中小板企业数据,实证研究了不同类型企业社会责任信息披露质量对创新持续性的影响路径。结果显示,对股东、员工的责任信息披露质量能显著缓解融资约束,从而正向影响企业创新持续性;对供应商、客户、消费者、社会和环境的责任信息披露质量只能部分缓解融资约束,但仍正向促进企业创新持续性;国有性质的中小板企业对社会责任信息披露质量更加敏感。以上结论说明,我国中小板企业应注重履行并披露对不同利益相关者的社会责任信息,这对于企业缓解融资约束、维持创新持续性具有积极作用。     

员工持股、信息透明度与企业创新 ——基于员工持股计划的准自然实验

自2014年6月证监会重启员工持股计划以来,已有超过8%的上市公司推出员工持股计划预案。以2010—2017年A股上市公司为研究样本,基于多时点DID研究框架,用以控制可能存在的内生性问题。实证检验企业实施员工持股计划（ESOP）对企业创新活动的影响效果,以此揭示中国混合所有制改革背景下实施员工持股计划（ESOP）的真实效果。结果发现：实施ESOP的企业相较于未实施ESOP的企业具有更高的创新产出,并且在信息透明度更高的企业中这种促进作用更显著;相比于国有企业,在非国有企业实施ESOP对创新活动的促进作用更强。进一步通过中介效应对机制进行检验发现,实施ESOP后可以提高管理层创新意愿进而促进创新投入。研究揭示了ESOP对企业创新活动影响可能存在的作用机制,对广大投资者理解ESOP公司治理作用具有一定启示意义。     

基于GIS和CFD的城市街道通风廊道研究——以武汉为例

改善通风的城市形态因素可以分为建筑和道路2个方面。建筑形态的通风评价主要采取综合迎风面积密度方法,将城市建筑环境转化为具有数值属性的栅格,从而提取城市建成区的通风廊道,但是该方法忽略了城市重要的通风路径——城市街道。以街道的朝向为主要评价对象,挖掘线状要素城市道路的通风廊道,作为建筑形态通风廊道划分方法的补充。根据通风潜力随夹角的变化规律,利用地理信息系统(GIS)的空间分析技术进行街道的通风潜力评价,在综合迎风面积密度密集的区域,存在通风潜力较高的城市街道     

网络会计信息失真的风险及对策

会计信息化的失真导致产生技术风险、业务风险以及管理风险。强化技术安全、建立科学合理的网络财务会计理论体系,加强应以管理,增强企业竞争力,实时进行全面核算监督,最大限度地减少会计信息失真带来的风险,把损失控制在最小程度。     

Markets for information: Of inefficient firewalls and efficient monopolies

In this paper we study market environments where information is costly to acquire and is also useful to potential competitors. Agents may sell, or buy, reports over the information acquired and choose their trades in the market on the basis of what they learnt. Reports are unverifiable – cheap talk messages – hence the quality of the information transmitted depends on the conflicts of interest faced by the senders. We find that, when information has a prevalent horizontal differentiation component, in equilibrium information is acquired when its costs are not too high and in that case it is also sold, though reports are typically noisy. The market for information is in most cases a monopoly, and there is underinvestment in information acquisition. We also show that regulatory interventions, in the form of firewalls, only make the inefficiency worse. Efficiency can be attained with a monopolist selling differentiated information, provided entry is blocked.     

Use and misuse of information in supply chain forecasting of promotion effects

Demand forecasting is critical to sales and operations planning (S&OP), but the effects of sales promotions can be difficult to forecast. Typically, a baseline statistical forecast is judgmentally adjusted on receipt of information from different departments. However, much of this information either has no predictive value or its value is unknown. Research into base rate discounting has suggested that such information may distract forecasters from the average uplift and reduce accuracy. This has been investigated in situations in which forecasters were able to adjust the statistical forecasts for promotions via a forecasting support system (FSS). In two ecologically valid experiments, forecasters were provided with the mean level of promotion uplift, a baseline statistical forecast, and quantitative and qualitative information. However, the forecasters were distracted from the base rate and misinterpreted the information available to them. These findings have important implications for the design of organizational S&OP processes, and for the implementation of FSSs.     

FIPIA with information entropy: A new hybrid method to assess airline service quality

This study proposes “FIPIA with information entropy” as a new, hybrid method to assess airline service quality by identifying the most important priorities for airline passengers and producing recommendations to airline management for optimal resource allocation to improve service quality and customer satisfaction. The proposed method is an improvement over IPA, IPIA and FIPA methods, through the introduction of information entropy and fuzzy logic to the analysis of importance, performance and impact dimensions of airline service quality to improve interpretability and actionability of analysis results. This study also offers airline managers a list of what they should improve in resource allocation in order to increase service quality considering customer satisfaction and create value by managing the relational capital more effectively. The new hybrid method was field-tested by administering a 26-item questionnaire to passengers of a major airline operator, analyzing the responses using the Importance-Performance-Impact Analysis (IPIA) method, fuzzy logic and information entropy. The analysis revealed four main dimensions of airline service quality, namely reliability, assurance, tangibles, empathy and responsiveness with 17 constituent attributes. The case study revealed that (1) resource allocation was adequate only on four attributes; (2) seven service quality attributes were identified as needing further management focus on resource allocation; (3) six service quality attributes received more resources than necessary which should be shifted to other attributes; (4) dimensions of reliability and tangibles needed more focus than others. The proposed hybrid method of FIPIA with information entropy can be employed for any industry where service quality depends on multiple attributes.     

Private information in currency markets

Using daily abnormal currency returns for the universe of countries with flexible exchange rates, we show local currency depreciations ahead of unscheduled, public sovereign debt downgrade announcements. Consistent with the private information hypothesis, the effect is stronger in lower institutional quality countries and holds after we control for concurrent public information and for publicly available rumors about the forthcoming downgrades. Our results persist when abnormal currency returns are adjusted for global carry and dollar risk factors, world equity and bond returns, as well as local stock market returns. Finally, the currency depreciations are permanent, providing evidence for a link between fundamentals and currency markets.