中国家庭食物浪费的规模估算及决定因素分析

在食物充足稳定供给因自然生态环境恶化面临严峻挑战的当下,中国食物浪费现象却日趋严重。本文以家庭消费环节的食物浪费为主题,利用中国营养与健康调查(CHNS)数据,在家庭食物浪费状况描述和规模估算的基础上,从人口规模和构成、人口特征、经济状况和文化背景四个方面对决定家庭食物浪费的家庭微观层面因素做了理论探讨和计量分析,以此为减少家庭食物浪费探寻政策思路。分析结果显示:(1)中国家庭的平均食物浪费数量总体上虽在逐年下降,但发生食物浪费的家庭占比却在不断提高,且总量规模十分庞大。利用2009年数据来保守推算,2016年中国人均的家庭食物浪费量在7. 63~10. 86千克,全年家庭食物浪费总量高达1055. 60~1501. 55万吨。加总餐饮行业的食物浪费,中国2016年的食物浪费量占全年粮食总产量的比例不低于4. 47%~5. 2%。(2)在家庭微观层面,家庭的人口规模、经济状况、户主和主要女性成员的年龄、省份地域所反映的文化背景差异是解释家庭食物浪费发生和浪费水平的重要因素。     

Does reputation of sponsors matter in IPO? Evidence from Hong Kong

Contrary to other markets where underwriters perform a combined role of underwriting and sponsoring in an Initial Public Offering (IPO), IPO issuers in Hong Kong must appoint at least one sponsor in addition to the underwriters. The splitting of the single role of underwriters into two separate ones offers an ideal setting to disentangle the effects of the two roles and to examine which of the two roles—sponsor or underwriter—is more important in explaining IPO underpricing and initial volatility in the Hong Kong equity market. Interestingly, our findings provide supportive evidence that the sponsor reputation does matter in an IPO and it is even more significant than the underwriter reputation in explaining the IPO underpricing phenomenon. Given the recent high-tech fervor, our research goes deeper to examine specifically the role of sponsors on high-tech firms, with results indicating that the reliance on sponsors is higher for traditional issuers than for technology firms. We further discover that sponsors and underwriters are playing substitution roles rather than complementary roles. In order to examine the regulatory policy impact, our research also compares the role of IPO sponsors before and after the launch of the new sponsor regulatory regime in 2013. The empirical findings lend support to our argument that after the launch of the new regulations, public awareness of sponsors is raised, respect towards more reputable sponsor increases, and thus, the role of sponsors becomes more important than before.     

Promote Competitive Neutrality to Facilitate China’s Economic Development:Outlook,Policy Simulations,and Reform Implementation-A Summary of the Annual SUFE Macroeconomic Report(2019-2020)

Twenty nineteen(2019)marked another year of lethargic growth in the Chinese economy amidst escalated internal and external complexities.Internally,the country's macroeconomic landscape was overcast continuously by fallen consumption growth,plunged growth in manufacturing investment,rapid accumulation of household debt,risen income inequality,and the overhang of local government debt.The nation's external conditions did not fare any better,with drastically declined growth in imports and exports,continued trade tensions with the US,and weakened external demand.Based on the IAR-CMM model,which takes account of both cyclical and secular factors,the baseline real GDP growth rate is projected to be 6.0%in 2020(5.9%using more reliable rather than the official data),with a downside risk.Alternative scenario analyses and policy simulations are conducted,in addition to the benchmark forecast,to reflect the influences of various internal and external uncertainties.The findings emanated from these analyses lead us to stress the importance and urgency of deepening reform to achieve competitive neutrality for China’s transformation into a phase with sustainable and high-quality development.     

掌握全局

过往从事中层会计工作的财务总监只集中关心数字，但时至今日，他们的工作范围扩大了，担当的角色更为重要。本文阐述了这个岗位职责的转变，以及香港会计师公会将怎样协助会员发展这方面的技能及富有挑战性的工作。     

货币政策、通胀预期和不确定性(上)北大核心

量化的通胀目标有助于增加货币政策透明度,形成通胀预期锚。通过货币政策操作来实现物价稳定目标,需要科学地测算通货膨胀率并进行通胀预测。货币政策需要前瞻性,然而基于市场数据的通胀补偿等指标无法准确评估长期通胀预期,需要通过对多种模型的预测结果进行评估和修正,并通过多种途径完善对通胀趋势和通胀预期的理解。     

失灵的国际货币体系北大核心SSCI

当前的国际货币体系缺乏使经常账户失衡的自动调节机制,还会形成资本从大国向小国大规模溢出的效应,是全球经济不平衡的根源。若不消除,全球经济失衡在未来可能引发经济危机。债权国和债务国都应该对此有充分的认识,采取共同行动完善国际货币体系,降低全球经济失衡的风险。     

Purpose, development and use of injury indicators

Injury indicators can be used to give policy makers an estimate of the scale of injuries and their long-term effects. They can help compare injury levels in different areas and countries and can be used to help measure the effectiveness of interventions. Work on severity related indicators is promising. However there are no perfect indicators to date as many are hampered with difficulties in case definition and under reporting. For example, mortality rates are affected by improvements in care even if the incidence of an injury remains the same, the abbreviated injury scale (AIS) takes 10-20 minutes to code and so is not used in health service databases, surveys have problems with recall bias, definition of injury and response rates. If we accept that we need to make the best out of imperfect indicators and imperfect data then we should use multiple sources of data and accept that no one indicator can be used universally but needs to be selected for the purpose. For example, one possible new indicator of the incidence of non-fatal injury might be fracture data in the emergency department. Fractures are painful and so nearly always end up with a hospital attendance. This might give a means to compare incidence of non-fatal injury in different areas and countries. In conclusion, we need injury indicators to progress in injury prevention. Imperfect indicators can be used for targeting and evaluating interventions as long as we know and adjust for their limitations.     

Green Project in Auto Industry

Automobile industry in China is developing very fast,which brings great business opportunities.In 2006, China was ranked the third in the world only after the United States and Japan in terms of auto sales. As the vehicle population in China is rocketing,a series of related social problems are emerging.How to fast develop auto industry,and at the same time,protect our living environment? A green project is in urgent need.