基于模糊评价模型的物流管理专业实践教学体系研究

考虑物流管理专业实践教学的特性,从实践环节、创新与创业、管理机制、教学团队等方面构建了实践教学指标体系,并运用模糊综合评价法进行评价分析。研究结论表明,毕业实习、毕业论文、学科竞赛、创新与创业项目对物流管理专业实践教学的影响较大。     

Asset pricing and energy consumption risk

This paper proposes energy consumption in the US as a new measure for the consumption capital asset pricing model. We find that (i) industrial energy growth produces reasonable values for the relative risk aversion coefficient and the implied risk-free rate; (ii) compared to alternative consumption measures, industrial energy performs well in explaining the cross-sectional variation in stock returns with the lowest implied risk aversion and pricing errors; (iii) the industrial energy consumption risk model performs equally well as the Fama–French three-factor model in the cross-sectional asset pricing tests; and (iv) total energy consumption risk is priced in the presence of the Fama–French factor risks.     

Linking of sample data to small areas

We consider methods for estimating the means of survey variables in domains of a finite population, where sample sizes are too small to obtain reliable direct estimates. We construct generalized compositions from the direct and traditional design-based synthetic estimators and propose the methodology for evaluating their coefficients. This methodology measures similarities among sample elements and estimates of the domain means. We propose the compositions for two cases of auxiliary information: domain-level characteristics are available; true means of auxiliary variables are available for the estimation domains, and unit-level auxiliary vectors are known for the sample elements. In the simulation study, we show where the generalized compositions improve the traditional synthetic and composite estimators.     

Foreign direct investment and economic growth: Is more financial development better?

We investigate the extent to which an increase in financial development affects the positive effect of foreign direct investment on economic growth. Although the financial sector is beneficial for economic growth, the effect of further financial development on growth is found to become insignificant. Using a dynamic panel threshold model on 62 middle- and high-income countries spanning the period 1987–2016, we re-examine the possible nonlinearity between finance, foreign direct investment, and growth. Consistent with the “vanishing effect” of financial development, we find significant evidence that foreign direct investment fosters growth in general, but the growth effect of foreign direct investment becomes negligible when the ratio of private sector credit to gross domestic product exceeds 95.6%. This finding is robust to different econometric methods, various subsamples and interaction analyses, and distinct financial development indicators.     

Identifying Price Reviews by Firms: An Econometric Approach

Price reviews are a potentially costly activity. A significant fraction of unchanged prices may stem from firms not reviewing prices, rather than from obstacles to changing prices per se, such as menu costs. In this paper, we disentangle these two causes of price stickiness by estimating an inflated ordered probit model on a panel of French manufacturing firms. The results point to a low frequency of price reviews, suggestive of the relevance of information costs as a determinant of the observed price stickiness. In view of the “inattentive producers” literature, pointing that the source of price rigidity matters, this is suggestive of a large real effect of monetary policy.     

Impacts of Australia’s free trade agreements on trade in agricultural products: an aggregative and disaggregative analysis

The importance of free trade agreements (FTAs) has been increasing as such agreements help reduce barriers to trade. This paper estimates the agricultural trade creation and export diversion effects of Australia’s free trade agreements (FTAs) at the aggregate and disaggregate levels, using the Poisson pseudo‐maximum‐likelihood (PPML) estimator. It includes 24 of Australia’s major trading partner countries comprising FTA and non‐FTA members and covers 22 years from 1996 to 2017. The heteroscedasticity robust regression error specification test (RESET) confirms the relevance of PPML over the Ordinary Least Square (OLS) estimator. Results showed that China–Australia, Korea–Australia, Australia–USA and Japan–Australia have larger trade creation effects in the agricultural sector. At the commodity level, variation in trade creation effects is estimated from the different trade agreements. Among the selected commodities, the larger effects were generated in trade in sugar and wine by the implementation of the majority of the trade agreements. Overall, the trade creation was greater than the export diversion of the FTAs. The findings of the study have implications for Australia’s future trade agreements.     

The Competitive Advantage of Collaboration – Throwing New Light on The Nordic Model

ABSTRACT

In one of the most influential contributions to modern political economy, Hall and Soskice have launched a distinction between ‘liberal’ and ‘coordinated’ market economies, placing the Nordic countries firmly in the latter category. We argue that, while the H&S distinction may serve classificatory purposes, seeing the Nordic model in terms of ‘coordinated capitalism’ blurs the distinctive features of the Nordic countries’ success as productive and fair economies. We contend that the central formula behind this success lies in what we call the Nordic model’s ambidexterity – the capacity to combine collaborative and competitive elements and skilfully navigate between them. Using an interdisciplinary perspective (inspired by organisation theory, cultural semiotics and evolutionary analysis), we provide a conceptual basis for reinterpreting the Nordic Model as an ambidextrous combination of culturally rooted, collaborative strategies that are subsequently competitively exposed. The article illustrates the workings of this ambidexterity in three societal domains: work life (including female participation), resource management – illustrated by the Norwegian petro-economy – and international business management and regulation with a focus on CSR. In each case we will show how collaboration is intertwined with pragmatic competitive exposure, yielding high productivity, high welfare, as well as fair income and wealth distribution.     

财政压力、地方政府行为与环境污染

地方政府是生态环境治理的关键主体，财政压力以地方政府行为作为传导变量，对环境污染及其治理效果有深刻影响。实证检验地方政府行为的促污和治污效应对财政压力冲击的响应。结果表明：激励生产型地方政府行为促进污染增加，在财政压力下促进污染增加效应的激化，即压力越大越污染。环境治理型地方政府行为中的环境保护支出对污染治理有效，财政压力对其治污效应有提升作用；排污费征收不治污、反促污，财政高压使其促污效应强化。在财政增支减收、压力不断攀升的背景下，可从治理体制性财政压力诱因、强化对地方政府行为监督和约束以及优化治理工具提升环境治理绩效等方面来平抑财政压力通过地方政府行为引发的环境污染加剧。     

中国省域入境旅游发展的空间计量建模与影响因素效应研究

空间计量模型在旅游研究中已得到有效应用,解决了旅游产业发展中的一些实际问题,但还需进一步改进与完善。文章以中国省域入境旅游发展为着眼点,增设扩散转移矩阵为模型因变量滞后的空间权重矩阵,以反映入境旅游在中国省域之间的客流人数扩散转移实际情况,同时从最为全面的广义嵌套空间模型入手,引入旅游研究空间计量模型系统,并以区域入境旅游发展影响因素为模型自变量,构建了入境旅游发展的最优空间计量模型,最后对模型显著自变量的直接效应、溢出效应、总效应进行评估分析,给出区域入境旅游发展建议。结果显示:模型自变量出现显著消极效应的影响因素几乎为酒店供应,加强旅游资源建设和经济水平发展始终是入境旅游发展的重要途径,而开放程度已对东部省域的影响较为微弱,对中部和西部省域则起到很好的积极效应,同时交通设施在中部省域呈现出非常强劲的溢出效应。     

Connectedness and systemic risk spillovers analysis of Chinese sectors based on tail risk network

This paper investigates the systemic risk spillovers and connectedness in the sectoral tail risk network of Chinese stock market, and explores the transmission mechanism of systemic risk spillovers by block models. Based on conditional value at risk (CoVaR) and single index model (SIM) quantile regression technique, we analyse the tail risk connectedness and find that during market crashes, stock market exposes to more systemic risk and more connectedness. Further, the orthogonal pulse function shows that Herfindahl-Hirschman Index (HHI) of edges has a significant positive effect on systemic risk, but the impact shows a certain lagging feature. Besides, the directional connectedness of sectors shows that systemic risk receivers and transmitters vary across time, and we adopt PageRank index to identify systemically important sector released by utilities and financial sectors. Finally, by block model we find that the tail risk network of Chinese sectors can be divided into four different spillover function blocks. The role of blocks and the spatial spillover transmission path between risk blocks are time-varying. Our results provide useful and positive implications for market participants and policy makers dealing with investment diversification and tracing the paths of risk shock transmission.