中国地方政府债务风险研究

分税制改革以来,地方政府债务问题逐渐浮现。伴随着地方政府债务不断累积,其偿债压力、信用风险、流动性风险、道德风险等问题呈叠加趋势。本文从地方政府债务风险分类出发,分析其形成原因,并着力根据我国现状提出防范地方政府债务风险的政策建议。     

Outlying Islands as a Tourist Destination for Local Residents: The Case of Cheung Chau in Hong Kong

Cheung Chau is an outlying island in Hong Kong, which is relatively untouched by the region's rapid economic development. The island provides a dramatic contrast to the cosmopolitan city center, one of the most popular travel destinations in Asia and a major business hub. This makes Cheung Chau a special attraction for local residents seeking to get away from their routine lives. However, no published studies have examined the opinions of residents on sustainable tourism development on Hong Kong's outlying islands and the motivating factors that drive residents to visit those islands. Hence, an exploratory qualitative study was undertaken to develop an understanding of the public's motivation for visiting Cheung Chau. The results of in-depth interviews with 15 residents who had visited the island are presented, along with an examination of the future direction of tourism development in Cheung Chau.     

Sex: The Power of the Powerless? The Use of Sex as a Spousal Influence Strategy in Vacation Purchase Decisions

This study is the first to test empirically the common notion regarding sexual manipulation as a spousal influence strategy during couples' vacation purchasing decisions. The study examined whether the use of sex as a spousal influence strategy is more prevalent among individuals who have less marital power than their spouses. Marital power is treated as two-dimensional: the first dimension is objective and composed of actual economic resources; the second is subjective and composed of feelings. A sample of 192 married or cohabiting men evaluated their own and their partner's use of sex as a means of exerting influence during a vacation decision process. Female subjects with low levels of subjective marital power and male subjects with low levels of objective marital power used sex as a spousal influence strategy at a higher frequency. The study found that during a vacation decision process, the use of sex as a spousal influence strategy is impacted by the marital power balance between the spouses. Second, economic power is not the dominant factor that affects the use of this influence strategy; rather, it is interpersonal power that is influential. The findings imply that sex may be used as a power strategy by the powerless.     

Total Factor Productivity Assessment of Tourism Industry: Evidence from China

This paper adopts the Malmquist Index and panel data model to measure and test the spatial–temporal evolutionary characteristics and the factors that affect total factor productivity of China's tourism industry from 2001 to 2009. The results show the following: there is a trend of growth in the total factor productivity of China's tourism industry, and technological progress is the dominant factor that affects total factor productivity changes, which indicates that the growth pattern of China's tourism industry has changed from a pattern driven by input factors to a pattern driven by technology; the spatial pattern of the total factor productivity of China's tourism industry has changed from a spatial pattern dominated by provinces with a low productivity to a spatial pattern dominated by provinces with a high productivity; the total factor productivity of China's tourism industry is mainly affected by the levels of economic and service industry development.     

Differences Between Management Philosophies Among American and Chinese Hotel Managers: A Cultural Comparison Between Las Vegas and Shanghai

The aim of this study is to ascertain, in an international tourism context, whether there are cultural discrepancies between hotel employees who have been educated and trained in a host country, and guests who have traveled to that country, given that each group is imbued with their own national culture. The findings indicate that not only do Thai frontline hotel employees have different expectations about the behavior of Japanese and Korean customers, but that the expectations of both customer groups concerning their own behavior differ from those of Thai employees. A significant gap was found in perceptions of actual behavior between the international customers and hotel staff, suggesting that cultural discrepancies are indeed present, but also vary by ethnicity. The scale of the discrepancy between Thai employees’ perceptions of Japanese tourists’ behavior, for example, was larger than in the case of the Korean customers. Comparison of the expectations of the two international customer groups also revealed strong differences.     

User acceptance of ‘near field communication’ mobile phone service: an investigation based on the ‘unified theory of acceptance and use of technology’ model

Near-field communication (NFC) is a technology with service applications that include location-based service, mobile payment, peer gaming, and targeted advertising. Using the unified theory of acceptance and use of technology model, this study explores the factors that affect consumer acceptance of mobile phones with built-in NFC capability. The results indicate that Effort Expectancy has a positive effect on Performance Expectancy. Also, Performance Expectancy and Social Influence have a positive effect on Attitude Toward Use of Technology, but Anxiety has a negative effect on it. Finally, Attitude Toward Use of Technology is more significant than Facilitating Conditions in affecting Behavioral Intention.     

海浪谱的选择对海面电磁波散射建模的影响

海浪谱的选择对Bragg共振散射建模的影响是海面电磁波散射建模的关键问题。首先简介了 海浪谱的概念,然后选择RA（Romeiser-Alpers）谱 进行了Bragg共振散射建模,最后选择另一种具有代表性的PM（Pierson-Moskowitz）谱进 行了Bragg共振散射建模,并通过仿真实验对两种海浪谱及其用于Bragg共振散射建模的效果 进行了比较分析。获得的结论对合理地选择海浪谱具有指导意义。     

小企业会计电算化系统实施研究

随着改革开放30多年来的快速发展,小企业在我国国民经济中占有非常重要的地位,是促进市场竞争和发展市场经济的基本力量。但是,我国小企业整体经济效益偏低偏差,经营管理水平相对不高,很重要的一个原因就是相当一部分小企业仍采用手工记账模式而没有实施会计电算化。本文正是基于此背景,详细阐述了我国小企业会计电算化系统实施现状及存在的主要问题,分析了影响小企业会计电算化系统实施的因素,并据此提出了一些促进小企业实施会计电算化系统的对策和措施,以便提高中国广大小企业的整体竞争力。     

我国企业债券信用价差宏观影响因素建模与实证

以在上海证券交易所流通的企业债券和国债收益率之差作为信用价差,分别建立多元线性回归模型和时间序列模型,从静态和动态两个方面对我国企业债券信用价差宏观影响因素进行了定性和定量分析,并利用脉冲响应函数测试了不同因素对信用价差的影响程度,发现货币购买力水平、国内生产总值、短期无风险利率、长期无风险利率以及股票市场收益率和波动率等因素对研究我国企业债券信用价差变化具有重要影响。研究结论揭示了信用价差变化的机理,能为投资者和监管部门提供决策支持。     

A Cross-Country Empirical Analysis of International Reserves

Using data from more than 100 economies for the period of 1975 to 2005, we conduct an extensive empirical analysis of the determinants of international reserve holdings. Four groups of determinants, namely, traditional macro variables, financial variables, institutional variables, and dummy variables that control for individual economies’ characteristics are considered. We find that the relationship between international reserves and their determinants is significantly different between developed and developing economies and is not stable over time. The estimation results indicate that, especially during the recent period, a developed economy tends to hold a lower level of international reserves than a developing one. Furthermore, there is only limited evidence that East Asian economies including China and Japan are accumulating an excessive amount of international reserves.