翱翔在蓝天的仙鹤

全日本航空公司(ANA)是日本两大航空公司之一,始建于1952年。刚开始公司成立的目标是恢复由于二战而中断的正常航空运输服务。原始资本也只有是1．5亿日元。在1963-1967年期间兼并了3家地区航空公司,由此快速发展起来。当时主要在国内市场经营。自1986年通航关岛以后,全日空航空公司的     

北京饭店莱佛士：中西合壁的精粹

经历九个月的重塑装修,北京饭店莱佛士日前揭开了神秘的面纱。这是在中国开业的第一家莱佛士品牌酒店。北京饭店莱佛士始建于1900年,有着悠久的     

Analyst following and count-data econometrics

This paper reexamines the determinants of the number of analysts following a firm using econometric models based on count distributions. We replicate Bhushan's (1989) analyst-following study to demonstrate the effects of using count-data econometrics, in lieu of OLS, in studying phenomena where the dependent variable ranges among nonnegative integers. In contrast with the original paper, our findings indicate the number of institutional investors is inversely related with analyst following. We also provide econometric evidence to support the preferred use of the negative binomial model in estimating cross-sectional, analyst-following regressions.     

Determinants of retirement planning behaviour and differences by age

This paper presents the results of an investigation into the determinants of retirement planning behaviour and differences among three age groups: 21‐ to 39‐year‐olds, 40‐ to 59‐year‐olds and those aged 60 years and older. A national survey of 911 individuals from households with incomes of $75 000 or greater was conducted in the US. The significance of socio‐demographic variables, the ability to recover from loss, behavioural tendencies and perceived or actual personal control were investigated; together with their role in the prediction of maximization of retirement contributions and ownership in the personal individual retirement account (IRA) or Keogh accounts. The results identified several significant variables in the prediction of ownership in a personal IRA or Keogh, including age, sources of financial information, being an early investor and investor activity. The results also identified several significant variables in the prediction of the maximization of retirement contributions, including employment, income, savings activity, ex ante research, review of investment performance, early investor, investor activity, such as planning for financial future, setting up automatic deposits and reviewing financial information in the mail.     

Economic well-being and poverty among the elderly: An analysis based on a collective consumption model

We apply the collective consumption model of Browning et al. (2010) to analyse economic well-being and poverty among the elderly. The model focuses on individual preferences, a consumption technology that captures the economies of scale of living in a couple, and a sharing rule that governs the intra-household allocation of resources. The model is applied to a time series of Dutch consumption expenditure surveys. Our empirical results indicate substantial economies of scale and a wife's share that is increasing in total expenditures. We further calculated two sets of poverty rates: one based on the collective consumption model and one based on the traditional approach with a standard equivalence scale. Poverty among widowers is underestimated by the traditional approach. The same is true for women (men) in elderly couples for the first (later) time periods in our analysis. Finally, we analysed the impact of becoming a widow(er). Based on cross-sectional evidence, we find that the drop in material well-being following the husband's death is rather substantial for women. For men, the picture is reversed.     

日本：一串散落在太平洋上的明珠

高品质的豪华游从今年7月份开始,国内的几家较大的旅行社开辟了高品质的日本豪华旅游路线,游客不仅可以欣赏日本各处的风景名胜, 而且在整个旅途中都可以享受到四星级酒店的服务。在这几条线路中,除了日本传统的旅游名胜之外,每条线都有它的独特之处。     

瑞士艾卓表：以精确工艺演绎时尚美学

瑞士艾卓表品牌的哲学,是为崇尚品味的人士,提供外型时尚而又富有内涵的优质腕表。而在腕表设计方面,艾卓表设计师经常保持敏锐的潮流触觉,配合现代专业人士生活方式的演变,度身设计富有强烈时装配搭性     

Private versus public consumption within groups: testing the nature of goods from aggregate data

We study the testability implications of public versus private consumption in collective models of group consumption. The distinguishing feature of our approach is that we start from a revealed preference characterization of collectively rational behavior. Remarkably, we find that assumptions regarding the public or private nature of specific goods do have testability implications, even if one only observes the aggregate group consumption. In fact, these testability implications apply as soon as the analysis includes three goods and four observations. This stands in sharp contrast with existing results that start from a differential characterization of collectively rational behavior.     

Topology of economic systems

An economic topology can have many uses to the academician, student and practitioner. Refining a topology of economic systems helps to bring together seemingly disparate characteristics and to point out potential long run trends. The progression of economic systems over time and also brief explanations of each system are given. We argue that most modem economic systems have some remnants of earlier forms, that is, most economies today are some mixture of what might be considered pure systems. Measurable characteristics to identify a particular system are developed that allows progress to or from a particular classification to be charted for individual countries.