Public pollution abatement and wage inequality

This paper constructs three-sector general equilibrium models to investigate how public pollution abatement affects the skilled–unskilled wage inequality. In the basic model with full employment, we find that a higher degree of public pollution abatement will decrease the wage inequality if the intensity of skilled labor in the urban skilled sector is sufficiently large and expand or narrow down the wage gap if this intensity is sufficiently small. In the extended models, we consider other four cases, and obtain the results similar or dissimilar to that of the basic model.     

Influence of Social Media over the Stock Market

This research analyzes investors’ activity through social media and these media's influence over the Chicago Board Options Exchange Market Volatility Index (VIX) using a logit model and a fuzzy‐set qualitative comparative analysis (fsQCA). The logit results show that social media sentiment influences stock markets. Meanwhile, the fsQCA results show that the investors’ profile is important for explaining how social media influence the stock market. Particularly, holding period combined with experience in technical investors contributes to avoiding a raise in market risk, whereas for nontechnical investors message sentiment and experience form the combination that contributes to avoid a raise in market risk.     

商业银行的操作风险、声誉效应与市场反应

我们通过比较银行市场价值损失与发生操作风险造成的损失的差异来分离出纯声誉效应,并实证分析了该声誉效应对不同银行及损失事件不同阶段的市场收益率的影响的差异。研究发现,操作风险事件在不同时期会产生迥异的市场反应。在披露期,银行遭受损失时会出现显著为负的异常收益率,在结算期却出现显著为正的异常收益率,而在承认期,该效应却并没有表现出一定的规律性;且上述声誉效应造成市场收益率的动态变化在不同类型的银行差异明显。这也启示我们,声誉效应的存在使银行有必要对操作风险造成的损失进行有效控制以及适时回应事件中的不确定信息。这将有助于减少银行的损失及保持市场的稳定。     

Public infrastructure provision and skilled–unskilled wage inequality in developing countries

In this paper, we develop several static three-sector general equilibrium models with diverse labor market structures to investigate the effects of government provision of public infrastructure on the skilled–unskilled wage inequality in developing countries. The basic full employment model shows that the production sectors' relative dependence on the public infrastructure provision plays a crucial role in determining the skilled–unskilled wage inequality. Different relative dependences on public infrastructure may even result in opposite changes in the skilled–unskilled wage inequality. The above results are robust even when we extend the basic full employment model to three fundamentally different cases.     

A parsimonious model to forecast financial distress,based on audit evidence

This paper provides evidence that audit reports convey relevant evidence for inferring the existence of underlying, unrevealed, financial imbalances. Unlike previous works, which studied US listed-firms bankruptcy, our research deals with Spanish non-financial SMEs under financial stress. Our results indicate that the audit of distressed SMEs has several distinctive features: higher auditor rotation, more qualified reports, and non-compliance with deadlines to approve and file the annual financial statements. We use this evidence to build and test a parsimonious and reliable forecast model. Several implications for auditors’ independence, information quality, and failure forecast are discussed.     

Measuring and Accounting for the Deprivation Gap of Portuguese Immigrants in Luxembourg

This paper examines the relative well‐being of Portuguese immigrants in Luxembourg by looking at indicators of material deprivation. We document material deprivation differences between immigrants and nationals—the “deprivation gap”—and measure the extent to which income differentials (and other sociodemographic differences) explain this gap using a combination of non‐parametric methods and a versatile graphical device. We find a large and significant deprivation gap against Portuguese immigrants, whatever the indicator considered. The extent to which the gap is merely a reflection of differences in income, however, depends on what deprivation items are taken into consideration. Income differences almost fully account for material deprivation differences when the latter is measured using the items included in the official EU social indicator of material deprivation. Inclusion of housing condition indicators mitigates this relationship and we then find compelling evidence that the deprivation gap is not entirely accounted for by income differentials.     

忠诚与集体行动的实现——以温州烟具协会的反倾销诉讼为案例

本文以公共物品的私人供给为例对集体行动的实现从忠诚的角度进行了分析.忠诚有利于集体行动的实现,并且这种实现是通过策略互动表现出来的.每个个体对自身组织的忠诚程度普遍较低有可能导致这个组织的集体行动的失败;反过来,每个个体对自身组织的忠诚程度普遍较高则有可能导致这个组织的集体行动的成功.即使异质性个体具有同样的忠诚程度,同样的忠诚程度也未必发挥同样的作用.     

从供给多元化角度探讨广州社区服务发展

社区服务供给多元化是广州社区服务改革发展的一个必然趋势.针对目前广州社区服务的现状,广州社区服务多元化进程应当走市场化放开与政府购买相结合的道路,同时加强与完善企业服务进入的市场规则,以及探索拓展更多政府购买项目.     

农地确权对农户土地转出的影响机理研究交易成本和禀赋效应的双重中介作用

目的 在土地流转发展缓慢而农地确权工作已经完成之际,基于农地确权对土地转出的影响研究中产权经济学和行为经济学两派观点的分歧,同时引入交易成本和禀赋效应两个中介变量,深入研究农地确权对农户土地转出的影响机理,将有助于推进农地确权成果应用以及农地流转制度的完善。方法 文章使用CHARLS2018数据,利用倾向得分匹配模型和一元并行多重中介模型实证分析农地确权对农户土地转出的影响机理。结果 （1）确权促进了土地转出,使土地转出的概率提高了6.60%;（2）确权非但没有降低反而提高了交易成本,进而抑制了土地转出;（3）确权有利于增强禀赋效应,但禀赋效应反而促进了土地转出;（4）中介效应上交易成本和禀赋效应为部分中介作用,交易成本中介效应比例为-10.46%,禀赋效应中介效应比例为13.35%,从而禀赋效应的中介作用更强并能强化确权对土地转出的促进作用。结论 农地确权工作有其正面的成效,但还需完善政策并建立配套制度以克服负面效应,建立土地流转中介服务组织和交易平台,宣传普及农地确权和相关“三农”政策,提高农户认知,同时还需防范禀赋效应过强和流转租金过高可能带来的不利影响。     

推进企业信息化建设 促进管理创新

煤炭工业要实现可持续健康发展,就必须走新型工业化道路,企业信息化则是有效途径和重要手段。党的十六大报告指出,“信息化是我国加速实现工业化和现代化的必然选择。坚持以信息化带动工业化,以工业化促进信息化,走出一条科技含量高、经济效益好、资源消耗低、环境污染少、人力