税费改革后农村所面临的问题和思考

目前我国风险投资业还很不完善 ,在风险资本规模、运作机制和退出机制等方面存在着许多缺陷。本文主要讨论我国风险投资在资本规模和资金来源结构两方面存在的问题 ,重点探讨如何进行制度创新 ,利用信托基金这种运作机制来吸引民间资本发展风险投资。     

区域人口社会经济系统动态仿真模型研究

近年来 ,需求不足的问题成为制约国民经济增长的关键问题。江苏高度重视民间投资问题 ,出台了一系列启动民间资本的政策和措施 ,但民间投资的潜力还很大 ,有必要进一步深入研究。     

透过王小郢模式谈城市公用事业民营化

城市公用事业既具备生产阶段引入竞争所需要的条件,又具备供给阶段进行垄断经营的基础,既有民营化的可能,又有管制的必要。采取BOT、TOT、PPP等多种形式使民间资本进入城市公用事业,推动城市公用事业民营化的进程,既可以解决政府财力不足的困难,又可以克服政府独家经营效率低     

人才资本价值在组织中的实现途径

文章分析了人才资本的价值特性,如不确定性高、增值性强、专用性强、外部性强等,提出并分析了人才资本与组织价值创造过程的循环闭路,阐述了组织中人才资本价值有效实现的绩效———薪酬途径和管理途径。     

关于扩大我国民间投资需求的思考

扩大我国民间投资需求 ,调动民间投资的积极性 ,是确保我国国民经济持续、健康、稳定、快速发展的当务之急。在政策选择上 ,应指导民间选择正确的投资方向 ,积极开展新的投资领域 ,引导民间企业在新兴产业取得发展 ;在融资环境上 ,应大力拓宽资金的筹措渠道 ,为民间企业提供良     

浙江民间资本国际化发展的条件与对策

浙江经济几十年来的跨越式发展离不开浙江民间资本的贡献,在“十二五”期间经济转型升级和结构调整的背景下,集中于传统制造业的浙江民间资本面临向高新技术产业、新兴战略产业和现代服务业转变的巨大挑战,民间资本国际化发展已成为浙江民间资本转型升级的重要突破口之一.文章梳理了浙江民间资本国际化的历程,介绍了浙江民间资本国际化发展的现状,分析了浙江民间资本国际化发展的优势和制约因素,在此基础上提出了浙江民间资本国际化发展应采取的对策措施.     

社会资本的本质及来源

社会资本已经引起了人们的普遍关注,它的提出为人们对经济学和社会学的研究提供了一个新的视角。但目前,对社会资本的论述并没有一个统一的定义,许多学者提出了不同的定义。本文主要阐述了目前关于社会资本概念的不同定义,并在此基础上对社会资本的本质进行了界定,同时分析了     

关于西方经济学中“投资”概念的几点思考

文章从投资和资本两个概念入手,分析了投资与资本之间的相互关系,阐述了西方经济学派关于实际投资与计划投资的含义和内容,诠释了投资边际效率小于资本边际效率的真正原因。     

引导民间资本投资 化解中小企业融资难题

民间资本市场改革的实践,为民间资本公平的参与市场竞争提供了一个良好的外部环境,在一定程度上有利于民间资本积极并合理地流向中小企业。但是由于当前我国金融体制固有的缺陷和民间资本自身的局限性,导致民间资本与中小企业难以有效地结合在一起。由此,本文重点分析了民间资本的投资取向和特点,从民间资本投资的三个主要投资取向,去探究解决中小企业融资难题的方法。     

我国企业资本结构悖论:提出与解读

本文从现代企业资本结构理论谈起,通过实证分析,阐述我国企业资本结构与现代企业资本结构理论及国外企业资本结构的差异,并分析了导致这种差异的原因,进而提出在理解和借鉴企业资本结构理论及国外企业融资经验的基础上,构建符合我国企业实际发展需要的资本结构,是当前企业改革     

民间资本与我国的基础设施建设

本文在论证了民间资本参与基础设施投资建设的必要性、可能性基础上,详细介绍了引入民间资本的具体途径,最后强调政府在此过程中应对其在市场准入、价格等方面加强监管。     

Pollution mitigation,unemployment rate and wage inequality in the presence of agricultural pollution

This paper established a small open general equilibrium model to investigate the effects of the changes of consumers' unit private mitigation expenditure on the unemployment rate and the urban-rural wage inequality etc.. We found that (1) in the capital specific case, the increase of unit private mitigation expenditure will not only increase the urban unemployment rate but also expend the urban-rural wage inequality; (2) in the capital movable case, the conclusions are exactly opposite to that of the capital specific case. And under certain conditions, the increase of unit private mitigation expenditure may improve national income. According to the parameter calibration and numerical simulation results of the relevant macroeconomic data of China in 2017, we also found that (3) the effects of the changes of unit private mitigation expenditure on the urban unemployment rate is greater than that of the urban-rural wage inequality; (4) the influence degree of the changes of unit private mitigation expenditure on the unemployment rate in the capital movable case is greater than that of the capital specific case, but the influence degree of the change of unit private mitigation expenditure on the urban-rural wage inequality in the capital movable case is smaller than that of the capital specific case.     

转型、经济增长与动态财政政策——Zou(1996)两步法

本文在Zou (1996)的框架基础上,通过内生政府支出,并且将生产性支出设定为存量,求解一个含有私人消费、公共消费、私人资本存量和公共资本存量的动态系统。结论表明,存在一个最优资本产权结构,使得经济能够登上平衡增长道路。与Barro（1990）等不同的是,本文的模型将转型与经济增长紧密联系起来,用资本产权结构的动态变化来表征经济的转型过程,进一步地,财政政策的动态学也有了市场基础。     

Performance and Capital Structure of Privatized Firms in Europe

Abstract

The objective of this paper is to analyze whether there are differences in performance between private firms and recently privatized firms in the European Union, as well as to determine whether ownership (state-owned versus private) and regulation affect capital structure. Focusing on economic reasons that justify privatizations, we analyze whether there are differences between recently privatized state-owned enterprises (SOEs) and private firms in their profitability, leverage and efficiency during the period 1999–2002. Also, we analyze the determinants of the capital structure of these firms. Contrary to previous studies, our results show that privatized firms are not less efficient than firms with private ownership.     

基于信任的社会资本与民营企业可持续发展

20世纪90年代以来,社会资本成为企业发展的重要话题。它不但成为解释企业持续发展的理论,也被奉为探求组织发展的有效方法。信任是社会资本的重要内容。信任资源不足是我国民营企业成长的瓶颈。本文通过对我国民营企业中信任型社会资本的现状分析,提出民营企业应加强信任型社会资本的挖掘和建设,以促进我国民营企业可持续成长。     

完善我国证券私募制度的初探

2005年修订后的<公司法>和<证券法>为我国证券私募打开了制度空间.文章首先介绍了证券私募发展的现状,进一步分析了"两法"修订后我国证券私募制度存在的问题,并借鉴西方成熟资本市场的经验,提出了完善我国证券私募制度的相关建议.     

Mandatory IFRS Adoption and Financial Statement Comparability

This study examines whether mandatory adoption of International Financial Reporting Standards (IFRS) leads to capital market benefits through enhanced financial statement comparability. U.K. domestic standards are considered very similar to IFRS, suggesting any capital market benefits observed for U.K.‐domiciled firms are more likely attributable to improvements in comparability (i.e., better precision of across‐firm information) than to changes in information quality specific to the firm (i.e., core information quality). If IFRS adoption improves financial statement comparability, we predict this should reduce insiders' ability to benefit from private information. Consistent with these expectations, we find that abnormal returns to insider purchases ― used to proxy for private information ― are reduced following IFRS adoption. Similar results obtain across numerous subsamples and proxies used to isolate IFRS effects attributable to comparability. Together, the findings are consistent with mandatory IFRS adoption improving comparability and thus leading to capital market benefits by reducing insiders' ability to exploit private information.     

Public capital and small firm performance

Previous research on the role of public capital (infrastructure) in private production has emphasized potential complementarities between public and private capital at an aggregate level. Presumably such effects, if they exist, arise from benefits enjoyed by individual units of production. Because of the potential for them to be location-specific or capital constrained, it is conceivable that small businesses may benefit disproportionately from public capital. Tests using financial data for 871 small firms from 1992–96 indicate a positive and statistically significant elasticity between private labor productivity and the level of public capital in the area where the firms are located. Such a positive elasticity provides further evidence that public and private capital are complementary inputs into production and has important policy implications.This research has been supported through a grant from the Kauffman Center for Entrepreneurial Leadership, the support for which the authors gratefully acknowledge.     

民营资本进入交通建设领域的问题和对策

交通支撑各项国民经济活动的开展,关乎人民基本生活。在交通建设中积极吸引和鼓励民营资本投资能够帮助解决国有资本不足、资金紧张等问题。本文从理论和现实两方面,分析了民营资本进入交通建设领域的依据和必要性,探寻影响民营资本投资交通建设领域的瓶颈问题,并根据实际,提出了交通建设领域吸引和鼓励民营资本的对策建议。