河南省林果业循环经济发展趋势

河南作为国家发改委确定的循环经济建设试点省份,近年来积极探索适合该省省情的循环经济发展模式,取得了一定成效,但同时也存在发展水平不高、区域发展不均衡等问题。文章就河南省林果业循环经济发展的优势、必要性、存在的问题及未来发展趋势进行简要的分析与探讨。该文指出了河南林果业循环经济发展面临的问题:一是林果业循环经济基础发展薄弱;二是循环经济相关法律有待完善,政府调节作用有待加强。对于未来河南林果业循环经济发展趋势,一是需要政府协调引导,形成发展合力;二是需要龙头企业带动,延长产业链条;三是需要农户积极参与,践行循环经济。让更多农户掌握生态林果栽培技术,将更多新技术与高效节能新装备与产品推广下去,促进林果业循环经济在更广阔的范围开展下去,让循环经济真正深入人心,实现河南林果业种植地区户户参与、人人参与的良好局面。     

Value of hedge and expected returns

We demonstrate how it is possible to generate value for an investor with a hedge attached to the buy-and-hold strategy of an S&P 500 index fund. We study the S&P 500 index portfolio (not including dividends) and the value-weighted S&P 500 index portfolio (including dividends) of the Center for Research in Securities Prices for 1967:01–2011:12, using the capacity utilization and the unemployment rates in real time to determine if a hedge position should be initiated or closed. A hedge is initiated if the capacity utilization, the unemployment rate or a combination of the two signals a contraction in the real economy. The hedge position is closed if it signals otherwise an expansion. We use utility gains (Campbell and Thompson 2008), the manipulation-proof performance measure (MPPM) statistics (Ingersoll et al. 2007) and the P-Sharpe ratio (Bailey and López de Prado 2012) to evaluate the performance of a particular hedge strategy. The empirical results show that there are infinitely many hedges that can generate positive utility gains, higher MPPM statistics and higher P-Sharpe ratios.     

我国畜禽养殖污染分区治理研究

随着我国畜禽养殖业的迅猛发展,畜禽养殖污染已经成为我国重要的污染源,威胁着我国的水环境和土壤环境等。文章利用我国各省畜禽养殖污染统计年鉴数据,依据各区的畜禽养殖污染总量压力、土地负荷压力和地表水负荷压力以及经济负荷压力等级对我国主要畜禽养殖污染区域特征进行了分析。结果表明,黄淮海地区为H-H-H-H型畜禽养殖污染区,是我国畜禽养殖污染压力最大的地区;青藏高原区为L-L-L-L型畜禽养殖污染区,是我国畜禽养殖污染压力最小的地区;东北区和东南区畜禽养殖污染压力也较大,分别为H-M-M-H型畜禽养殖污染区和H-H-L-M型畜禽养殖污染区;蒙新高原区和黄土高原区畜禽养殖污染压力中等,分别为H-M-M-H型畜禽养殖污染区和H-H-L-M型畜禽养殖污染区;西南山地区畜禽养殖污染压力中等偏低,为M-M-L-L型畜禽养殖污染区。基于上述研究,该文对各区畜禽养殖污染的分区环境治理提出了若干针对性建议。     

高职思政课教学现状调查及改进策略分析

通过对北京地区高职思政课教学状况的调查发现，思政课教学质量及教学效果与预期有一定差距。根据高职教育与普通本科教育在培养目标、学生基础等方面的差异性，编写高水平的高职思政教材，完整配备责任能力强和专业水平高的师资队伍，提高课堂教学水平，是改进高职思政课教学的有效策略。     

Independent directors and earnings management: The moderating effects of controlling shareholders and the divergence of cash-flow and control rights

The research results on the suppressing effect of independent directors on earnings management are not consistent in existing literature. In addition, it has been argued that using financial statements provided by top management to investigate top management's earnings management is not appropriate. Therefore, the purpose of this study is twofold. First, we used external auditors (including the auditors of Taiwan Stock Exchange Corporation and the auditors of two Big Four accounting firms – Deloitte & Touche and KPMG in Taiwan) as respondents in order to obtain less biased data. Second, we investigate the moderating effects of controlling shareholders and the divergence of cash-flow and control rights on the relationship between independent directors and earnings management. The results show that both the existence of controlling shareholders and the divergence of cash-flow and control rights have significant suppressing effects on the relationship between independent directors and earnings management. Theoretical and practical implications are also discussed.     

Good geography,good institutions? Historical evidence from nineteenth-century British colonies

This paper uses a historical natural experiment – the opening of the Suez Canal – to investigate the relationship between geography and the formation of institutions. While the conventional view is that good geography (commodity endowment) inevitably favours the creation of extractive institutions, we discover that a second aspect of geography – location – may in fact encourage the establishment of non-extractive institutions when rent extraction by elites depends on the productivity of non-elites. Specifically, we find that entrepôt colonies (Hong Kong and the Straits Settlements) received larger public investments in the post-Suez period than resource colonies (British India, Ceylon, and West Africa), after accounting for year effects and permanent differences across colonies. We demonstrate, using supplementary data, that the entrepôt colonies' locational advantage, coupled with their lack of extractable resources, plays a key role in explaining our empirical findings.     

Earnings Instability and Tenure

We study the effect of tenure on earnings instability in Italy using the reforms of temporary employment contracts, which affected the average tenure of workers differentially across cohorts. We develop a model of earnings dynamics, and we exploit the variation of tenure and instability over time and across birth cohorts to estimate policy‐relevant parameters. Our results indicate that each year of tenure on the job reduces earnings instability by 11 percent; the drop is faster in the first three years of the match. Workers on a temporary contract have an earnings instability up to 100 percent higher than workers on a permanent contract.     

How knowledge flow affects Korean ICT manufacturing firm performance: a focus on open innovation strategy

The paper presents an integrated viewpoint of technological innovation strategy by considering both the firm and industry levels. Further, we provide a new open innovation framework by adopting a knowledge flow perspective using patent citation information. Finally, we consider a firm’s outbound open innovation performance using cites per patent information together with financial performance to look at both the practical and the potential effects of technological innovation strategy. Through these analyses, this study examines determinants of open technology innovation activity in the information and communication technology manufacturing industry in Korea and draws managerial and policy implications for effective industry promotion and improvement of technology innovation capability.     

The future of the chef occupation and the food and beverage sector after the COVID-19 outbreak: Opinions of Turkish chefs

The aim of the present study is to reveal the opinions of the chefs who working as a manager in the kitchen department within the food and beverage sector about what changes might have occurred in their occupation and food and beverage sector after the COVID-19 outbreak. The data were collected through online interview forms and content analysis was used as a data analysis method. The findings reveal three main categories: general opinions after the COVID-19 outbreak, changes that could occur in the food and beverage sector after COVID-19 outbreak, and thoughts for the future of the chef occupation after the COVID-19 outbreak. Since this paper is the first to reveal the opinions of the chefs about what changes might have occurred in their occupation and food and beverage sector after the COVID-19 outbreak, and no similar study could be found in the existing literature, these findings are original.     

Legal evolution of the concept of ‘home base’ for the purpose of determining labour and social security law applicable to European aircrew members

This paper has a dual aim: (1) to outline the legal evolution of the ‘home base’ concept and (2) to map the role of this concept in determining the law applicable (both employment law and social security law) to employment contracts of European aircrew members. An in-depth analysis of the relevant portions of (1) Reg. (EEC) No 3922/91, (2) Reg. (EU) No 465/2012, (3) Reg. (EU) No 83/2014, (4) EASA's 2014 Certification Specifications, and (5) the European Court of Justice's preliminary ruling on joined cases C-168/16 and C-169/16 is conducted.What emerges is that (1) the ‘home base’ definition, due to its subjectivity, has traditionally been susceptible to multiple interpretations and (2) due to regulatory ambiguity, the use of ‘home base’ to identify the labour laws applicable to airline workers has for a long time been inconsistent, ranging from one extreme (being considered a key element for this purpose) to the other (being assigned a secondary role). It was only in the last few years that some improvements were made, with Reg. (EU) No 465/2012 first and the European Court of Justice's 2017 preliminary ruling then, clarifying that the ‘home base’ concept must be assigned a central role in the determination of the law (both social security law and employment law) applicable to employment contracts in the aviation industry.