银行业联合授信制度制约企业的非效率投资了吗*——基于沪深A股公司的分析

中国银保监会出台联合授信管理制度旨在抑制企业过度融资行为，提高资金使用效率。为检验该制度是否达到预期效果，采用2014—2018年沪深A股上市公司样本，运用非平衡面板数据回归实证考察联合授信机制对企业非效率投资的影响，发现联合授信对企业的非效率投资（包含投资不足和投资过度）呈现显著抑制效应，其中联合授信对投资过度的抑制效应最大。进一步研究发现，相较于国有、大规模、低负债、高盈利等异质属性的企业，联合授信对非国有、小规模、高负债、低盈利等属性企业的非效率投资（尤其是投资过度）抑制效应更为显著。     

道德风险视域下职业经理人信用评价体系构建及测度：以重庆市为例

道德风险总是困扰着职业经理人群体，对企业发展产生不利影响。在实践中，作为建立健全社会信用体系的重要环节，职业经理人信用评价是防范职业经理人群体道德风险的基本思路和必要举措。本文基于马克思主义的理论启示，探索职业经理人三个维度的道德关系和道德风险，并围绕三个维度指向的个人信用、职业信用与职务信用等具体信用构成，阐述职业经理人信用评价内涵。进而，结合职业经理人信用评价内涵，构建系统应对道德风险的职业经理人信用评价体系，并以重庆为例进行实证测度。在此基础上，提出促进职业经理人道德意识与信用水平提升、实现新时代职业经理人群体高素质发展的对策建议。     

A continuous income-based grade gap decomposition on university course grades

The earnings premium for education, and higher education in particular, is well documented. This article examines the college achievement gap between students coming from positions of high and low socio-economic status. Other papers have also looked at this issue, often by employing, at least in part, an Oaxaca decomposition. Past papers artificially divided socio-economic status into binary groups of high and low, in order to employ the decomposition. Socio-economic status is innately a continuous variable. Therefore, we implement a continuous version of the Oaxaca decomposition. Higher socio-economic students are both slightly better prepared in terms of observable characteristics and have better returns to their characteristics than lower socio-economic students. Notable differences across results obtained from the binary and continuous decomposition methods are discussed.     

空间目标的联合矩阵束极点估计

极点作为谐振区雷达目标的最主要电磁特性，具有很大的空间目标识别前景。但是在使用频域观测数据提取目标极点时，存在虚假极点和估计精度问题。针对上述问题，首先通过加窗和截断改进了后时响应信号的获取流程，抑制了虚假极点影响；然后采用最小描述长度法（MDL）估计极点个数，避免了定阶错误引起的虚假极点；最后采用联合矩阵束法估计极点，有效减少了单角度数据估计极点时存在的遗漏极点和虚假极点问题。FEKO软件验证表明，所提算法具有更高的精度和抗噪能力。     

Multiple product qualities in monopoly: Sailing the RMS Titanic into the economics classroom

In this pedagogical contribution the authors extend the traditional three-class tariff employed in the French passenger railway system with the more resonant story of the service quality variations associated with the three passenger classes of the ill-fated RMS Titanic. In doing so, they provide economics instructors with an opportunity to integrate the well-known motion picture Titanic (Cameron and Landau 1997 Cameron, J., and J. Landau. 1997. Titanic. Los Angeles: 20th Century Fox, Paramount Pictures, and Lightstorm Entertainment. [Google Scholar]) into the teaching of economics. This article provides instructors with resources that can be used to link historical and modern travel examples of price discrimination in order for students to reach a “deeper understanding of course concepts” (Salemi 2002 Salemi, M. K. 2002. An illustrated case for active learning. Southern Economic Journal 68 (3): 721–31.[Crossref], [Web of Science ®] , [Google Scholar], 725).     

Hotel school alumni’s intentions to use communication channels – a cross-generational comparison study

ABSTRACT

Alumni communication is vital in sustaining the relationship between alumni and their alma maters. This research investigated four cohorts of alumni, and their intentions to use a range of traditional and digital communication channels, including social media. An online questionnaire was sent to 8060 alumni and resulted in 595 usable responses, yielding a 7% response rate. The research results showed that alumni have the highest intentions to use the alumni e-newsletter and the alumni Website and the lowest intentions to use social media, e.g., Twitter, Instagram, and YouTube. Among alumni cohorts, significant statistical differences in their intentions to use these communication channels were identified. Given our findings, alumni communication staff are encouraged to leverage different communication channels targeting alumni in different age groups.     

Incorporating a Short-Term Study Abroad Service Trip for Educating International Entrepreneurship in the BOP Market

ABSTRACT

The bottom of the pyramid (BOP) market has gained importance in international entrepreneurship due to its large market potential. Drawing on the literature of international business education, as well as social entrepreneurship and international entrepreneurship education, we propose a course to educate students how to develop business intimacy with the BOP community. We employ the experiential-learning pedagogical framework and design elements including a short-term study abroad service trip, an entrepreneurship project, and structured reflections. Using both qualitative and quantitative data, we demonstrate that the course facilitates students’ learning in the key areas of international and social entrepreneurship, including the economic and social value of community embeddedness for BOP ventures, the emotional intelligence in interacting with BOP communities, and the attitude toward social entrepreneurship.     

Understanding the motivation of museums,galleries and cultural exhibition visits – evidence from Taiwan internet use types

Are museums, galleries and cultural institutions (MGC) educational institutions or accommodations of leisure market? The aim of the present study is to understand why people visit MGCs through analysing a potential link between internet use types and MGC visits. Internet use is categorized into three types: independent activities, recreational activities and social activities. The empirical results indicate that internet use for recreational activities is negatively related to MGC visits, while internet use for independent activities is positively related to MGC visits. The findings suggest that MGCs are expected to provide visitors with educational experience rather than with social or recreational experience.     

Effects of state-sponsored human capital investment on the selection of training type

Since the 1990s, firms in Japan have reduced their human capital investment in the workplace to minimize costs. Moreover, in response to the increase in the number of non-regular employees and turnover rates, workers need to have greater incentive to make the self-motivated investment in themselves for their self-protection. In this study, we first estimate the effects of workers’ self-motivated investment in themselves on wage rates. Next, we explore who is likely to participate in which training type and accordingly estimate the effects of the self-motivated investment on wage rates by training type. Our estimates controlling for individual-level fixed-effects indicate that the return is significantly positive and particularly high for practical training related to workers’ current jobs, and regular workers tend to self-select these higher-returns programs, while non-regular workers are more likely to enroll in lower-returns programs, such as schooling. This trend in investment in oneself could potentially increase the wage inequality between regular and non-regular workers through the self-selection of training types. Our estimates reveal that receiving the training and education benefit raises the likelihood for workers to participate in a high-return training program regardless of whether they are non-regular or regular workers. This suggests that government benefits on self-investment change workers’ self-selection of training type and serve to promote practical trainings that lead to high returns.     

The role and impact of professional accountancy associations on accounting education research: An international study

This paper explores the relative influence of the accounting academy and accountancy professional associations in the debate concerning the profile and quality of accounting education research. This research analyses 13 semi-structured interviews undertaken with members of key accounting professional associations in Australia, New Zealand (ANZ) and the United Kingdom and Ireland (UKI). The paper makes a theoretical contribution by the novel application of the institutional logics theory to the literature concerning professional accounting associations (PAAs) demonstrating the dominant commercial logic of the education function and the more traditional fiduciary logic of the technical function. The research finds that the primary stakeholders in the professional accounting curriculum development model are the PAAs and employers, whilst the accounting academy is relatively absent. The relative independence of the education and research and technical functions within PAAs is also identified: academic research and technical activity has little influence on professional education and vice versa. However, PAAs’ funding of academic research is common across all four countries for brand recognition and in some instances to influence policy rather than informing the professional curriculum.