Higher Intensity,Higher Profit? Empirical Evidence from Dairy Farming in New Zealand

Over the last two decades there have been significant and well‐documented changes in the nature and structure of New Zealand dairy production. One particular feature has been a marked shift in the ‘input intensity’ of dairy farming systems through increased use of supplementary feed. These changes have generated debate about the impact of dairy farm intensity on the performance of farm businesses and the competitiveness of the New Zealand dairy sector. Using a novel econometric approach, we assess statistically the impact of three types of dairy farming systems on milk production and financial performance, using farm business data provided by DairyBase^®. Our empirical results show that higher input systems perform significantly better physically than lower input systems, but not financially. The disaggregated analysis suggests that the average treatment effects differ by region and performance quantiles.     

西藏城乡居民家庭养老现状与趋向分析

在西藏,家庭曾是老年人养老的基本依赖。然而,随着经济社会条件的变化和人口流动,老年人的生存状况与过去大不相同。传统的家庭养老功能面临着新的挑战,主要表现如家庭结构逐渐趋向小型化、子女数量减少而使家庭供养负担加重、老龄化导致家庭养老功能弱化。面对这些新的挑战,西藏城乡居民的养老出现新趋向,如自我养老观念提高、女儿养老地位加强以及社会化养老等。     

Variations in farm consumption and their relationship to income: an empirical investigation of Illinois farm households

Empirical tests of household consumption have yielded mixed results regarding the validity of the life cycle/permanent income (LCPI) hypothesis. A significant problem with such studies is the difficulty in finding sufficient micro-level data on household expenditures. By using the recent rich quantity of such data in the Farm Business Farm Management (FBFM) data for Illinois farms from 1995 to 2009, the study reported here for farm households should provide more consistent results regarding the LCPI hypothesis. Applying an empirical model based on the LCPI hypothesis, this article identifies the determinants of farm consumption and the relationship to income. This study provides evidence that current income changes are not significant in explaining the consumption changes of farm households, thus supporting the LCPI hypothesis for farm households.     

Sibling gender and wage differences

Family influences on economic performance are investigated. In particular, sibship sex composition is related to hourly wages using data from the National Longitudinal Survey of Youth 1979. The wages of men are increasing in the proportion of siblings who are brothers, but the wages of women are insensitive to sibling gender. Nonwage outcomes are generally unaffected. Contrasts by age structure and demographic group are also presented. The analysis addresses econometric challenges like the endogeneity of fertility and selection into the workforce. In addition, mechanisms such as labour market interactions, human capital investment and role model effects are documented. A questionnaire on job search indicates a same-gender bias in the use of brothers and sisters in obtaining employment. Developmental and psychological assessments suggest that brothers may be associated with worse childhood home environments and more traditional family attitudes among women. The findings are policy relevant and contribute to an understanding of gender differences and earnings inequality.     

计划生育政策如何影响城乡收入差距——基于CFPS数据的实证分析

基于CFPS（2010）数据，实证分析计划生育政策对城乡收入差距的影响机制，并利用Oaxaca-Blinder分解法和RIF回归分解法测度了计划生育政策对城乡收入差距的贡献度。结果表明：（1）计划生育政策有利于子代收入的提高，且对城镇的收入边际效应大于农村；（2）政策允许家庭生育数量越多，越不利于农村家庭子代收入的提高，家庭一旦超生则会显著降低子代收入，而且相对于农村家庭子代而言，城镇家庭超生对子代收入的负向影响更大；（3）计划生育政策对城乡收入差距的拉力呈现出U型特征，对低、高收入群体的影响较大，而对中等收入人群的城乡收入差距贡献相对较小，其中政策允许生育胎数起到了决定性作用。因此，计划生育政策应统筹全局、因地制宜、奖惩兼施，以提高农村的人力资本水平和子女的教育质量，促使城乡居民生育率和人力资本水平趋同。     

Doing more and doing better are two different entities: Different patterns of family control and environmental performance

Family firms bear two types of agency costs, including type I and type II agency problems, in corporate environmental practices: (1) Outside executives at family firms hesitate to engage in environmental strategies, which can lead to drops in profits; (2) Controlling families employ opportunistically environmental management to achieve their interests. We argue that a primary cause for the agency problems lies on ineffective internal corporate governance at family firms, which can cause loss of managerial (or power) balance between outside executives and family executives. Our findings show that family firms with ownership and strategic control (FSC), which family executives and outside executives monitor and constrain each other, can achieve the highest environmental performance. Moreover, external controls, including product market competition and provincial environmental regulations, substitute effective internal control of FSC. The environmental performance premium of FSC is more prevalent when the production market competition is lower. Family firms with ownership, operational, and strategic control (FOSC) can achieve higher environmental performance within a province with more stringent environmental regulations.     

家族企业代际传承影响企业经营绩效的路径*——基于跨代转型创业与继承人社会资本的视角

本文研究了家族企业代际传承对企业经营绩效的影响路径。基于2004—2015年间已完成代际传承的中国上市家族企业，本文从跨代转型创业视角考察代际传承对企业经营绩效的影响路径，并考察继承人社会资本的调节作用。研究发现：代际传承会导致企业经营绩效下降，跨代转型创业在上述过程中发挥中介作用。同时，继承人的社会资本会加强上述消极影响。跨代转型创业对企业经营绩效的消极影响会逐年减弱，且继承人的社会资本对此消极影响有削弱作用。     

Impact of family income in early life on the financial independence of young adults: Evidence from a matched panel data

This study investigates whether the family income level in early life influences the financial independence of young adults. Using a large nationally representative U.S. sample (constructed based on the data from the 1999 to 2015 Panel Study of Income Dynamics, its 2009 to 2015 Transition to Adulthood Supplement and its 1997 to 2007 Child Development Supplement), we find that the relationship between one's family income level during adolescence and the financial independence of young adults follows an inverted U‐shape. We find that the college graduation status plays an important role in determining the financial independence of young adults. Once young adults graduate from the college, their financial independence is no longer influenced by their family income level during adolescence. The results show similar patterns after controlling for cognitive and noncognitive abilities and financial behaviours of young adults when they were children or teenagers. The findings of this study have significant implications for policymakers and educators.     

Chinese consumers’ preferences for food quality test/measurement indicators and cues of milk powder: A case of Zhengzhou,China

Many food regulations focus on test/measurement indicators, such as hazard analysis and critical control points (HACCP) and traceability, etc. Other than these indicators, the food industry uses various cues such as product origin as indicators of product quality. However, in an environment where consumers’ confidence in food safety is low due to frequent food safety scandals, little is known about the efficiency of these test/measurement indicators and cues. This paper used the primary data collected in Zhengzhou (China) to estimate consumers’ preferences for test/measurement indicators and a new cue of “own farm” for milk powder. Our results show that country of origin is the most important cue attribute, followed by price and own farm. The importance of test/measurement indicators such as organic, traceability, and HACCP certification is relatively low. Also, the individual parameter estimates show that consumers’ preferences for test/measurement indicators currently in the market are weak and fragile. Interestingly, price has an inverse-U-shaped relationship with consumer utility, implying that Chinese consumers may perceive low-price milk powder as low quality. The results of this study provide important insight for regulatory authorities and the food industry to develop more effective policies and programs to improve consumer preferences for milk powder.     

重男轻女观念会加剧当地家族企业的机会主义动机吗——以家族企业上市公司为例

本文基于重男轻女观念的视角，探究地区文化是否会影响当地家族企业的机会主义动机。本文研究发现，重男轻女地区的家族企业更愿意安排男性家族成员担任CEO等重要职位，更多地引入家族成员参与企业经营。由于担心这种机会主义行为，外部投资者对当地家族企业的投资更为谨慎。本文从地区文化的视角阐释了家族企业的异质性，推动了已有研究从“家族企业与非家族企业有何不同”向“不同地区文化下的家族企业间有何不同”层面深入。