Determinants of Economic Interaction: Behavior or Structure

Experimental economics originated as examination of the behavior of aggregate phenomena, especially markets, populated by human participants motivated by their desire to attain their goals. The past two decades have brought two newer trends. One is a gradual but steady shift in the focus of the questions sought to be addressed through human experiments towards examination of micro level phenomena – individual preferences and behavior. The second is the expansion in the role of computer simulations to examine questions about aggregate level phenomena. This shift to individual behavior has accentuated the ever-present dilemma of social sciences in trying to be a science on one hand, and to understand our own self-conscious selves – human beings – on the other. To address this dilemma, it would be useful to recognize three streams of experimental economics: (1) macro stream to examine the properties of social structures, (2) micro stream to examine the behavior of individuals, and (3) agent stream to explore the links between the micro and macro phenomena using computer simulations. At least the structural stream can be firmly rooted in the tradition of sciences (bypassing the free-will dilemma of social sciences), while the agent stream can span the gap between the behavioral and structural streams.The author is thankful to Dorota Dobija and Juergen Huber for their helpful comments. Science does not know its debt to imagination. – Ralph Waldo Emerson Vivisection is a social evil because if it advances human knowledge, it does so at the expense of human character. – George Bernard Shaw The theoretical broadening which comes from having many humanities subjects on the campus is offset by the general dopiness of the people who study these things. – Richard P. Feynman Economics has an amazing capacity to summarize staggeringly complex phenomena by the application of only a handful of principles. – Charles R. Plott Being outside and above individual and local contingencies, collective consciousness sees things only in their permanent and fundamental aspects, which it crystallizes in ideas that can be communicated. – Emile Durkheim     

Economy and Race: Interactive Determinants of Property Crime in the United States, 1958-1995

ABSTRACT Drawing upon rational choice, routine activity, and social disorganization theories, this study investigates changes in rates of property crime known (reported) to police in the United States from 1958 to 1995. Predictor variables include changes in rates of inflation; technological, cyclical, and frictional unemployment; arrest rates for property crimes disaggregated by race (ARPCDR); the interaction of ARPCDR and technological unemployment (to test effects of rising unemployment on whites versus blacks); and a measure of police provisioning. A Beach-MacKinnon Full Maximum-Likelihood FGLS AR1 Method (accompanied by residual analysis) is employed. Significant positive effects are established for (a) inflation, (b) cyclical unemployment, (c) frictional unemployment, and (d) the interaction of white arrest rates and technological unemployment. Police provisioning is not found to be significant. Policy implications are explored along with future policy considerations.     

Black-White Economic Participation in Large U.S. Cities: Some Determinants of Their Differentials

Abstract . In this study some of the causes of the differentials in Black-White economic participation in large U.S. cities are examined. Specific concern is with unemployment and withdrawal from the labor force. The underlying hypothesis is that these differentials are a response to compositional differences between the two populations. The effects of region, economic structure, and segregation are also examined. A causal model is explicated in which these variables are inter related and their direct and indirect effects upon the dependent variables analyzed. The data suggest that, while having similar patterns of causes, labor force withdrawal and unemployment differentials are distinct phenomena. It also appears that a major portion of the variance in these variables is not accounted for by compositional differences between Blacks and Whites on socio-economic variables. However, educational and occupational differentiation have theoretically significant effects. It is argued that a major portion of the residual variance is due to discrimination, although there is no way of directly testing this hypothesis. An important negative finding is the apparently minor impact of residential segregation, suggesting that the physical isolation of Blacks is not a key factor in their limited economic participation. Finally, the data suggest that it is meaningful to regard assimilation as a multidimensional phenomenon whose dimensions are causally interrelated.     

A Note on the Determinants of Public Dissatisfaction with Government: Economic and Political Factors Affecting the Public's Attitude toward Government

This study empirically identifies both the economic and political determinants of the public's dissatisfaction with government in the United States. Using annual survey data on the public's dissatisfaction with government obtained for the years 1965–1996, it is found that the Vietnam War, Watergate, oil price shocks and higher federal marginal income tax rates resulted in elevated levels of the public's dissatisfaction with government, whereas increases in housing prices and a rising Dow Jones industrial average reduced the public's dissatisfaction with the government.     

大学生低碳行为影响因素的调查分析

本文以华南理工大学为例,通过对其在校学生共313人进行调查研究,结合focus group小组讨论,进而了解影响大学生低碳行为的各内外在因素,根据调查结果概况起来主要包括主观和客观两个方面。针对这种现状,调查小组从"拉力"和"推力"两个角度提出相应的对策建议,并希望能够为其他高校提供借鉴和参考。     

投资性房地产计量模式转换的财务影响与决定因素——以世茂股份为例

文章以世茂股份为例,分析了投资性房地产计量模式转换对企业的财务影响及其转换动因。根据分析,文章对企业选择会计政策以及监管方改善公允价值信息披露提出了政策建议。     

Determinants of corporate borrowing: Some evidence from the Indian corporate structure

In contrast to previous empirical work on capital structure, which is mainly confined to the United States and a few other advanced countries, this paper attempts to study the capital structure choice of developing countries through a case study of the Indian corporate sector. The paper shows that the optimal capital structure choice is influenced by factors such as growth, cash flow, size, and product and industry characteristics.     

交易成本、使用寿命与行为选择——物质循环利用的影响因素分析

本文从物质循环利用的内涵出发,阐述物质循环利用生态经济大系统均衡与功能维持的重要途径.提出关注物质循环利用的技术特征的同时,应更多的关注其经济特征,通过建立物质循环利用多因素影响模型,识别和分析影响微观经济主体物质循环利用行为的经济因素,重点分析交易成本和使用寿命因素对物质循环利用的影响,将经济信号传递给经济行为主体.在此基础上,本文提出完善再生资源市场发展和废旧产品交易的相关政策建议,以期促进我国循环经济发展的内生化和自运行的驱动力形成.     

The Economic Determinants of the Home Country Bias in Investors' Portfolios: A Survey

In this article, we survey the international portfolio choice literature to investigate why investors choose to bias their portfolios towards domestic equity, even though there are significant gains to diversifying internationally. We focus on three potential explanations. First, we consider if the high proportion of domestic assets in investors' portfolios can be explained by their desire to hedge home inflation. While the models of Krugman (1981), Sercu (1980), Adler and Dumas (1983), and Stulz (1981a, 1983) suggest that this is the case, the model in Uppal (1993) shows that this is true only when relative risk aversion is less than one. Second, we consider the prevailing institutional barriers to foreign investment to see if they are sufficiently large to explain the bias observed in investors' portfolios. Halliday (1989) reports that there are few constraints on investing in foreign stock markets. This is especially true when investing in the markets of developed countries. Even when restrictions exist, they are usually not binding. Third, we consider the models of Black (1974) and Stulz (1981b) to see if transactions costs for investing abroad and taxes on income from foreign assets can explain the home equity bias. Cooper and Kaplanis (1986, 1991) and French and Porterba (1991) estimate that the taxes required to explain the observed bias are much larger than those investors actually face. We conclude that it is unlikely that these three factors are significant enough to explain the degree of the bias in portfolios that is observed empirically.     

国内外公众环保行为的影响因素述评

近年来,我国经济快速发展的同时资源过度消耗和环境污染问题日益突出,已经引起政府和学术界的高度关注。了解公众环保行为的各种影响因素,有助于更加科学和有效地引导公众的环保行为,从而收到事半功倍的效果。通过对国内外有关文献进行梳理和分析,归纳和比较国内外公众环保行为的影响因素,发现主要包括情境因素、个人特征因素和习惯和态度因素三方面。最后,对结果进行了总结和讨论,并指出未来研究的方向。     

县域经济发展效率及其影响因素研究——以江苏省为例

探寻产生区域之间越来越明显的经济发展水平差距的根源,对构建和谐社会、维持社会的健康持续发展具有重要意义.然而,经济发展水平与区域内的投入产出紧密相连,为此借助数据包络分析(DEA)方法构建理论分析模型,对江苏省县域经济的发展效率进行测算,并对影响效率的因素进行分析.研究结果表明,江苏省县域之间的经济发展效率存在显著差异;产业结构、人口素质和区位优势对县域经济发展效率具有显著的影响,而金融深化、外商直接投资在总体上却没有表现出理论上所认为的正向效果.     

The HRM Process Approach: The Influence of Employees’ Attribution to Explain the HRM‐Performance Relationship

In an experimental study and a field study, we studied whether high‐commitment human resource management (HC‐HRM) is more effective when employees can make sense of HRM (attribute HRM to management). In the experimental study (n = 354), employees’ HC‐HRM perceptions were evoked by a management case, and their attributions were manipulated with an information pattern based on the three dimensions of the covariation principle of the attribution theory: distinctiveness, consistency, and consensus. As expected, the results showed that the effect of HC‐HRM on affective organizational commitment was stronger when employees understood HRM as was intended by management. This experimental finding was confirmed in a cross‐level field study (n = 639 employees within 42 organizations): the relationship between HC‐HRM, on one hand, and affective organizational commitment and innovative behavior, on the other hand, was stronger under the condition that employees could make sense of HRM. © 2015 Wiley Periodicals, Inc.     

Returns to Scale and the Economic Impact of Migration: Some New Considerations

Abstract

This paper builds on an earlier paper by the author. It uses a simple model to analyse the economic impact of international migration on a large city. The paper assumes that immigration causes the population of the city to grow, thereby increasing the cost of living for existing residents. In one version of the model, the government responds by increasing public-sector wages so as to help offset the higher cost of living. The private sector follows suit. In another version, wages are determined by supply and demand. The paper investigates what happens to living standards, unemployment and the location of the native population under different assumptions about returns to scale. The mathematical analysis is supplemented by numerical simulations.

Retours à l’échelle et l'impact de la migration sur l’économie: quelques considérations nouvelles

RÉSUMÉ?La présente communication est basée sur un ouvrage précédent du même auteur. Au moyen d'un simple modèle, elle analyse l'impact économique des migrations internationales sur une grande agglomération. Cette communication présuppose que l'immigration détermine une augmentation de la population de la ville, en augmentant ainsi le coÛt de la vie pour les personnes qui y sont domiciliées. Dans une version de ce modèle, le gouvernement intervient en augmentant les salaires dans le secteur public, dans le but de compenser pour ce dernier l'augmentation du coÛt de la vie. Le secteur privé en fait de même. Dans une autre version, les salaires sont déterminés par la loi de l'offre et de la demande. La communication se penche sur ce qu'il en advient du niveau de vie, du chômage, et l'emplacement de la population autochtone dans le cadre de différents hypothèses sur des retours à l’échelle. L'analyse mathématique est complétée par des simulations numériques.

Retornos a escala y el impacto económico de la emigración: varias consideraciones nuevas

RÉSUMÉN?Este ensayo se agrega a un trabajo anterior del autor. Utiliza un modelo simple para analizar el impacto económico de la emigración internacional en una ciudad grande. El trabajo presupone que la inmigración provoca el crecimiento de la ciudad, aumentando por lo tanto el coste de la vida de los residentes existentes. En una versión del modelo, el gobierno responde incrementando los sueldos del sector público, para ayudar a contrarrestar el aumento de la carestía de la vida. El sector privado sigue su ejemplo. En otra versión, los sueldos están determinados por la oferta y la demanda. El trabajo investiga el efecto sobre el nivel de vida, el desempleo y la ubicación de la población autóctona bajo diferentes asunciones sobre los retornos a escala. El análisis matemático se complementa con simulaciones numéricas.

     

房产税改革主要目标的选择——基于地方政府行为激励视角的分析

房产税改革是当下我国经济体制改革中的热点,但什么是房产税改革的主要目标迄今都没有一个统一的认识。目前国内关于房产税改革目标存在三个主流观点:1成为调控房价主要工具;2成为地方主体税种;3帮助实现收入分配公平。本文从地方政府利益诉求和行为激励的视角对上述三个目标进行了分析,认为在地方政府作为改革主体的前提下,成为地方主体税种应该是房产税改革长期内的主要目标,而其余两个目标都不可能成为房产税改革的主要目标。     

创业韧性的驱动因素及其对创业行为选择的影响——一个基于QCA方法的研究

创业韧性作为创业者克服困境,自我恢复与成长的能力,可以帮助创业者或企业家在逆境中实现自我超越,促进创业成功.然而目前来说创业韧性的研究仍处于起步阶段,学者们重视韧性对创业活动的促进作用,而较少关注创业韧性的驱动因素.本文通过定性比较分析的方法(QCA)探索失败情境下不同因素的组态对创业韧性的影响后发现:①并不存在单一的核心条件会促使创业韧性的形成;②驱动创业韧性的形成分为四条路径,并就四条路径对结果进行讨论;③低创业失败恐惧与高创业经历在经济成本与社会成本缺失下对创业韧性的形成具有重要影响,并推动创业者继续展开创业活动,而不会一蹶不振,退出创业.     

再论会计政策选择的产生原因及经济影响

本文首先阐述会计政策及其选择的定义,继而重点探讨会计政策选择的两个基本理论问题,即产生原因和经济影响。企业会计政策选择产生的客观原因很多,主要有利益的共享性、企业的独特性和法规(律)规定。这些客观原因使会计计量与报告呈现出诸多主观表现,促使企业拥有会计政策选择权。会计政策对信息使用者和国家宏观经济这两个方面具有“经济后果”。会计政策选择产生的会计信息将会影响社会资源的配置效率和效果。     

经济开放度对中国经济效率的影响:基于跨省数据的实证分析

在比较分析我国各省的对外经济开放度的前提下，本文运用基于对数柯布一道格拉斯生产函数的随机前沿分析模型，分析了经济开放度的省际不均衡性对经济效率跨省差异的具体影响。分析结果显示，经济开放度对我国技术效率增长有着极其显著的贡献，其中，外商直接投资的影响力度要大大地高于国际贸易的影响。     

高职院校财经专业学生就业稳定性影响因素分析——以南京铁道职业技术学院为例

高职院校财经类专业学生就业率高但就业稳定性较差,通过对南京铁道职业技术学院2014届学生的跟踪调查,利用logistic二元回归分析法,得出学生单位性质、性别、是否贫困生及生源地与就业地一致性与学生就业稳定性存在极大相关性。     

Absentee Ownership of Farmland and State and Local Tax Policy: Income Tax Promotes Absenteeism, But the Property Tax Can Be Used to Strengthen Family Farms

Abstract . The incentive effects of state and local tax policies in promoting or inhibiting the ownership of farmland by non-operators are evaluated. Previous research on the economic, social and environmental effects of absentee ownership is reviewed as well as evidence regarding the impact of tax laws on absentee owners versus owner-operators. The Federal tax laws, it is found, work to increase land prices, reduce entry into farming by young farmers, and increase absentee ownership. State income tax policies may reinforce these effects. Property tax policies, on the other hand, may counteract income tax laws by giving tax relief preferentially to owner-operators. Several modifications of property tax relief programs are suggested.     

掏空性关联交易影响因素分析——基于建筑行业

控股股东掏空行为给中小股东带来了沉重的伤害,也给我国证券监管部门带来了一系列的监管困难。那么从机制上如何抑制控股股东的掏空行为,就显得至关重要。本文选取了2010-2013年建筑行业的样本数据,针对控股股东掏空行为进行了相关分析,得出公司内部治理机制、外部环境可以一定程度上制约控股股东的掏空行为。