Diligence and laziness in chinese agricultural production teams

A simple numerical game-theoretic framework is used to explore the effects of rising work disutility on individual household work effort decisions in Chinese agricultural production teams. Effects of changes in the importance of distribution ‘according to labor’, concern for other members of the team, and peer pressure on team work performance are discussed, and resolution of a ‘prisoner's dilemma’ situation is shown to be central to the eventual outcome.     

论风险投资中的尽职调查

通过对20多位风险投资家的调研,对他们尽职调查所必备的条件、策略及过程进行了系统分析,总结出其内在规律,以期对我国风险投资项目的筛选有所启示.     

我国农村集贸市场存在的问题及对策

农村集贸市场在社会主义新农村建设中发挥着重要作用。目前,我国农村集贸市场在日益繁荣的同时也存在着很多问题,影响和制约着农村集贸市场的健康发展。要认真查找根源,分析原因,并采取有效对策加以解决,以促进农村集贸市场的健康发展。     

论上市公司治理中董事的勤勉与责任

新发布的《上市公司治理准则》中提出了董事的诚信和勤勉义务，但对违反义务应承担的责任并没有给出明确的、可操作性的规定。因此有必须借鉴美国法律有关公司治理结构中董事之勤逸义务和责任的规定，完善我国的相关法律，以进一步完善我国治理结构，提高公司经营水平，保护投资的利益。     

对当前我国农村赡养纠纷案件的探讨

目前我国人口比例正处于老龄化阶段,农村老年人的赡养问题自然成为一个比较突出的社会问题。近年来,因子女不孝而诉诸法院的案件呈较快的上升趋势,处理好该类纠纷,对当前的社会稳定,计划生育基本政策的贯彻实施,都具有十分重要的意义。     

孟加拉国乡村银行对我国发展农村小额信贷的启示

发展农村小额信贷是当前我国提高农村金融服务质量和水平的一个重要途径和方法,而目前国际上最成功的农村小额信贷机构就是孟加拉国的乡村银行。本文首先对孟加拉国乡村银行运作模式及成功经验进行了研究,然后对我国农村小额信贷的发展实践进行了回顾,最后,总结了对我国发展农村小额信贷的一些启示。     

孟加拉国乡村银行对我国发展农村小额信贷的启示

发展农村小额信贷是当前我国提高农村金融服务质量和水平的一个重要途径和方法,而目前国际上最成功的农村小额信贷机构就是孟加拉国的乡村银行.本文首先对孟加拉国乡村银行运作模式及成功经验进行了研究,然后对我国农村小额信贷的发展实践进行了回顾,最后,总结了对我国发展农村小额信贷的一些启示.     

和谐社会中的农村新型工业化道路选择

中国农村工业经过三个阶段的发展，正在朝着和谐社会中新型工业化的方向发展。农村新型工业化的实施并非一帆风顺。中国传统的城乡二元经济结构根深蒂固，农业一直以来是为城市工业服务的，农村以及农村工业发展状况使得农村工业化发展出现诸多与和谐社会要求不符的问题。针对这些不和谐因素，我们要认识到中国农村新型工业化的内涵，走科技含量高、以人为本、以农民为主体的农村新型工业化道路。     

Uncertainty and risk analysis of the Langrun Chinese GDP Forecast: Fan Charts revisited

In this paper, we develop a fan chart methodology for Chinese economic growth to incorporate uncertainty analysis into the gross domestic product growth forecast. Using the ‘Langrun Forecast’ project results exclusively, we estimate the density distribution for Chinese gross domestic product growth forecasts and build corresponding fan charts for the first time. Our analysis shows that the fan chart method effectively highlights the overall uncertainty and balance of risks surrounding Chinese gross domestic product growth, especially during the past international financial crisis between 2007 and 2009. Wallis' interval forecast test is conducted to evaluate the performance of the produced fan charts, and the results indicate that our forecasts perform well for the period being investigated.     

关于扩大农村消费市场的思考

投资、消费、出口被比作拉动经济增长的三驾马车.在我国,近些年来,相对于投资和出口需求的强劲增长,消费还是三驾马车中的跛足.国家正致力于扩大内需,调整经济结构,以促进经济发展的可持续性和稳定性.我国是一个农业大国,农村人口占到了全部人口的大多数,但是农村消费市场却是一个长期被忽视的部分,因此,开拓农村市场又是拉动消费非常重要的一环.因此,从农村消费市场的现状和产生原因出发,针对目前农村消费市场的特点,提出自己的一点建议.     

Honesty,Diligence and Skill: Risk Sharing and Specialization in the Kiryu Silk Weaving Cluster,Japan

Many economies have seen growth in industrial clusters during their industrialization, and the relational contracts between manufacturers and subcontractors are often the organizational basis of clusters. We predict that, if manufacturers form relational contracts with subcontractors, if manufacturers closely collude with each other when trading with subcontractors, if information about subcontractors’ past actions is only imperfectly shared by manufacturers as hearsay, and if demand shock is considerable, then premium subcontractors suffer more from market volatility than ordinary subcontractors would and hence, it is optimal for manufacturers to shield premium subcontractors against the risk. We then study Kiryu, a kimono weaving cluster that expanded from the late nineteenth century with the development of new synthetic dyeing techniques. We show that premium subcontracting weavers were allowed long‐term relational contracts and specialization, which shielded already honest weavers against market volatility and induced them to be diligent and to acquire skills.     

China's Foreign Direct Investments:Challenges of Due Diligence and Organizational Integration

This paper critically reviews Chinese companies' foreign direct investment practices of recent years. Using case studies involving overseas Greenfield as well as merger and acquisition(MA) of Chinese enterprises, we aim to draw lessons from these experiences. However, because of increasing importance of outbound acquisitions by Chinese companies, this paper focuses on Chinese MA activities. After presenting the theoretical discussions of post-acquisition organizational integration, this paper identifies factors that have contributed to less than expected performances of Chinese foreign investments. Three main factors are identified as the plausible causes of the less than satisfactory outcomes: inadequate due diligence, not considering political and country risks, and cultural differences. In all cases, inexperience of Chinese enterprises in foreign direct investment, either in Greenfield form or MA, has attributed to the problems. Therefore, summing the experiences of the Chinese enterprises that have foreign direct investment is essential for those Chinese investors that intend to invest overseas. Conduct of meaningful, in-depth due diligence before serious negotiations for investment or acquisition, inclusion of risk premium for political risk in cash flow analysis, and early post-merger integration planning are essential for avoidances of bitter outcomes many Chinese investors experienced overseas.     

Anonymity in the dictator game revisited

Giving in the dictator game has often been interpreted as evidence of other-regarding preferences. We suspect that giving is determined by subjects’ attempts to appear fair in the eyes of recipients and the experimenter. Therefore, we investigate behavior in the dictator game by using the randomized response technique to increase anonymity. Overall, 290 subjects participated in two experiments. The results demonstrate that the randomized response technique reduces giving to negligible amounts compared to the standard double blind condition. Thus, our results suggest that individuals closely follow egoistic motives in the dictator game when anonymity is convincingly implemented.     

News and the exchange rate revisited

This paper provides a theoretical framework to explain the increasing impact on the exchange rate of unanticipated money growth, with a stable short-term interest rate, and rising long-term rates. The assumptions of Purchasing Power Parity and Uncovered Interest Rate parity are relaxed. The appreciation of the currency is shown to be a direct result of the expected increase of future interest rates. A discussion is offered on the precise definition of the "surprise," under alternative assumptions. Heterogeneity of agents as regards exchange rate expectations, and the effect of long-term capital investments are also taken into account. It is shown that the surprise may have lagged effects on the exchange rate, and that its sign depends on the horizon of the portfolio investments (short or long). This paper has benefited from the comments of the participants at the 1996 International Atlantic Economic Conference in Paris. Financial support from the Instituto Valenciano de Investigaciones Económicas and the DGCYT under project PB94–1502 is acknowledged.     

Conditions for Asymmetric Information Solutions when Alliances Provide Acquisition Options and Due Diligence

One main problem with both acquisitions and alliances is separating the attractive partners from the rest. An additional problem with alliances is getting each partner to provide its best assets and efforts. One solution offered for the acquisition adverse selection problem is due diligence through a pre-acquisition alliance; however, none of the papers recommending such an approach analyze the alliance adverse selection and moral hazard problems. This paper presents the first formal model of joint venturing as acquisition due diligence, detailing how the joint solution works and under what conditions.revised version received October 20, 2003     

County financial ecology and the development of new socialist countryside in China

The new rural construction will involve many fields, such as the upgrade of the industrial structure of agriculture, the impravement of the efficiency in the use of agricultural resources, the increase of farmers＇ income, maintaining sustainable agricultural development, and strengthening the construction of agricultural service system and circulation system.Finance, as the core of modem economy, should serve the new rural construction. However, there are many problems about the financial system in the rural area for a long time. So it is vital to build a good county financial eco-environment to promote the development of county financial systems and give full scope to the supporting function of finance. Only when we solve the problems in rural financial ecology and make clear the government ＇s fanction and activities, the county financial environment can function and be improved. Based on the reality of county economic development and starting from the connotation of county financial ecology, this paper analyzes the status quo of county financial eco-environment, especially the significance of optimizing the county financial eco-environment under the macroscopic background that the country proposed the socialist new rural reconstruction, and proposes the opinions and suggestions to construct and the maintain county financial eco-environment.     

新农村建设拖累了工业化和城市化吗

由于中国的工业化与城市化远未完成历史使命,新农村建设一直受到人们的质疑.本文从中国现代化进程、构建社会主义和谐社会的角度来探讨三者之间的关系,认为三者统一于中国现代化进程中,是互动而非对立关系,并提出加强三者互动关系的建议.     

International migration and the welfare state revisited

Immigration is a controversial topic in most developed economies. The presence of a redistributive welfare state in all major immigrant host countries creates a margin on which immigration affects native welfare. The primary focus of the paper is whether a large intake of immigrants reduces welfare state effort. It is usually argued that steady increases in immigration lead to public pressure for lower levels of publicly-funded social expenditures. In contrastz to the earlier empirical literature on this topic, we find little evidence in favour of this hypothesis. While immigration does have a relatively modest effect on the welfare state, if anything there is some support for the view that a greater influx of immigrants has lead policy-makers to increase welfare state spending.     

新农村建设思想研究

新农村建设思想研究是近来新农村建设理论研究的热点之一,其研究的内容纷繁复杂.对新农村建设思想研究的内涵、本质和内容的考察显示,新农村建设思想有个体和群体、广义和狭义之分;同时它是一种实践性认识,决定了它的结构及其评价和检验方式.新农村建设思想研究的内容总的来说有两大体系,即哲学体系和实践体系.观念上的这种区分能使研究的内容更加集中和突出,研究方法更加科学合理.