Liquidity and Pricing of Credit Default Swaps in Japan: Evidence from a Benchmark Index for Corporate Debt Claims

This article is a contribution towards the growing empirical literature on the relationship between liquidity and pricing of credit default swaps (CDSs). To the best of my knowledge, the article becomes the first to show that market liquidity does matter to CDS pricing in Japan, by looking into a sole benchmark index of CDS trading for investment-grade debt claims, or the Markit iTraxx Japan (MiJ). The impact of illiquidity on MiJ premia has declined since the International Swaps and Derivatives Association introduced new trade practices in April 2009. The liquidity of the MiJ has increased since the Japan Securities Clearing Corporation started operating as a central counterpart for the MiJ in July 2011. The price discovery ability of the MiJ has also increased since then.     

新疆高校人才队伍建设思路与路径探析

人才队伍建设是高校事业发展的基础性工程,是高校建设和发展的核心问题。新疆高校因政治、历史、地域等因素,在人才队伍建设方面有其特殊性。论文通过了解新疆高校人才队伍建设面临的问题,有针对性地提出了双轮驱动、三面协同、四位一体、五大创新的具体路径,以期对新疆高校人才队伍建设的实践有所启示。     

Will future land based food and fibre production be in family or corporate hands? An analysis of farm land ownership and governance considering farmer characteristics as choice drivers. The New Zealand case

Family farming in various guises has been the dominant ownership and governance system in primary production over recorded history. This outcome has been controlled by farmers and their families, possibly due to tradition, opportunities, personal characteristics, skill sets and the nature of primary production. Of these, it is hypothesised that the farmers’ personal characteristics play a major part in the choice, and continuance, of current ownership and governance systems. Equally as important, they, and therefore the land ownership system, play a part in the efficiency of production systems and improvement of the biological and production environment.The benefits and difficulties of commonly used ownership systems in Western society are reviewed. Using a sample of New Zealand (NZ) farms, a comparison of the managers’ features for owner/operator, partnership and corporate based systems is presented. There were significant differences in many variables including the farmers’ age, education, number of children, asset levels, years on the current farm, and similar, but more importantly, the farmers in the ownership system groups had differing personal characteristics. Significantly, despite the corporate based farms employing more professional assistance, the profit levels were similar across ownership systems leaving the farmers’ characteristics the main factors correlating with system choice. However, governance systems per se are only marginally correlated with production systems and efficiency.As successive generations of farmers are unlikely to have different characteristics, and corporate based systems continue to exhibit similar profit levels, relatively simple family based systems will continue to dominate farm land ownership and control. The trends suggest family farms will increase in size and involve family conglomerates facilitating the management of larger, and in many cases multiple, farms. While currently there are few differences in biological efficiency between ownership systems, given the efficiency benefits of size and scale, this could well change with the increase of family conglomerates. Relative to increasing corporatisation, the continuance of family based ownership and governance will also be of benefit to the environment. When developing land policies, these highlighted relationships should be taken into account. This study is a first to consider personal characteristics relative to ownership.     

建立高校新员工教育培训体系与机制的探讨

高校在发展过程中应着手解决人力资源管理问题,人力资源管理能让高校可持续性发展,实现其使命。湖南交通职业技术学院通过组织新进人员进行素质拓展训练,优化人力资源管理。     

持续加强高职学生实用英语口语教学的必要性探究

近年来，随着经济高速发展，第三产业地位节节攀升。为了更好地开展工作，用人单位对应聘人员素质的要求不断提高，并将英语应用能力，尤其是口语表达能力列入重要考虑因素。专门为服务业培养人才的服务类高职院校应当加强对学生实用英语口语表达能力的培养，从而满足市场需求。     

我国物价上涨过快的比较分析及对策研究

2010年以来，我国物价水平不断攀升，国家为应对物价过快上涨，采取了一系列措施，但从效果来看并不理想。我国在1993年～1995年期间也发生了比较严重的通货膨胀，比较分析这两次通货膨胀的特点，为我国经济运行做出正确的判断和分析，从而采取有效的应对措施。     

新时期高校师德建设及对文明行为养成的影响

新时期党和国家做出“建设人力资源强国”的战略部署，对高校师德建设和人才培养提出了更高的要求，然而部分高校教师急功近利、言行不一、言行失范，对大学生文明行为产生了负面影响。应从加强高校师德建设的角度，充实师德内涵，增强高校教师服务意识，引导大学生开展职业生涯规划等方面提出加强大学生文明行为养成教育的思路和对策。     

试析平衡计分卡在高校部门绩效管理中的应用

平衡计分卡作为实施绩效管理的一项工具,在现代组织管理中得到越来越广泛的运用。高校绩效管理完全套用企业绩效管理方法存在明显的“硬伤”,即实施了对个体的考核而没有接照组织的一般层次分级实施考核。平衡计分卡在高校绩效管理中的应用,可以提高高校绩效评价效果。     

AMC的运行机制与商业化转型

AMC（Asset Management Comanies）——金融资产管理公司是国家为了处置国有商业银行不良资产、促进国有银行和国有企业改革与发展而设立的新的金融机构。1999年,先后成立了信达、华融、东方、长城四家金融资产管理公司,标志着中国正式开启了处置国有银行不良资产的工作。随着金融资产管理公司政策性使命的结束,我国四家资产管理公司又开始了商业化转型,目前正在探索以资产管理业务为主,以投资银行、金融租赁、担保、信托等业务为依托的综合性金融业务,逐步朝着金融控股公司的目标迈进。     

Paradigms in Industrial Relations: Original,Modern and Versions In‐between

This article argues that the industrial relations (IR) field has had two distinct paradigms — an original paradigm centred on the employment relationship, and a modern paradigm centred on unions and labour–management relations. In practice, IR scholars in the decades after the Second World War frequently adopted the former as a broad principle but followed the latter in research and teaching. The narrower labour–management paradigm has created a significant survival challenge for the IR field, given the marked long‐term decline in union density in most countries. I join with others in arguing that to survive and prosper in the years ahead, the field needs to return to an updated version of the original ‘employment relationship’ paradigm. To promote this end, I describe the major features of the original paradigm, including its core positive and normative principle. I also outline how this core principle provides the foundation for an integrative IR theory of the employment relationship, which the field greatly needs to move ahead.