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对我国保险业财险市场和寿险市场2007--2011年市场结构、绩效和经营效率之间的关系进行分析,并对市场结构与经营绩效关系的五种假说进行验证,结果显示:我国无论是财险市场还是寿险市场均不符合结构一行为一绩效假说(SCP)和相对市场力量假说(RMP),也不符合效率结构假说(ES),我国保险市场在一定程度上符合平静生活假说(QL)。 相似文献
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经济新闻自由度与资本市场的有效性 总被引:1,自引:0,他引:1
李国平 《上海立信会计学院学报》2008,22(2):69-75
从金融经济学"效率市场假说"的理论与实证研究结果角度分析经济新闻自由对于金融市场发展的影响后认为,经济新闻自由是实现效率市场的宏观机制之一;只有充分的经济新闻自由,信息才能迅速而充分地扩散到市场,并被包括到资产的价格中,从而实现效率市场,促进资本市场的发展。利用世界银行各国股市市值数据与"自由之家"对各国新闻自由度的评定数据进行的统计分析表明,经济新闻自由与股市市值之间具有显著的正相关性。 相似文献
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随着经济全球化和金融一体化步伐的加剧,交叉上市成为国际理论界研究热点.市场分割假说是解释交叉上市利益最早、最流行的一种假说.本研究围绕以市场分割假说为切入点的交叉上市资本成本效应的相关资料,从动因假说、理论验证、实证检验等方面进行文献梳理与回顾.最后归纳出现有研究的结论,并提出当前面临的挑战与未来的研究方向. 相似文献
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本文建立了基金业市场结构与市场绩效关系模型,通过两次回归逐步筛选的方式,对传统产业组织理论关于产业绩效与结构关系的各种假说进行了检验,结果显示,我国基金业绩效存在严重的环境依赖倾向。 相似文献
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分形市场假说将分形理论引入金融资产价格行为研究中,为金融市场的研究建立了一个新的理论框架。文章在剖析有效市场假说局限性的基础上阐述了分形市场假说的市场特性及其重要意义,并且提出了在分形市场框架下建立分形资本市场理论和分形风险管理模型的基本思想,为进一步研究提供有益的参考。 相似文献
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介绍了有效市场假说(Efficient Market Hypothesis)的理论和实证研究,探讨了此假说在理论上和实证上的缺陷。本文重点介绍了能更为准确描述金融市场的分形市场假说和协同市场假说。 相似文献
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When a manufacturer and its retailers and consumers are spatially separated, the retailers’ market size may be limited by the manufacturer who provides consumers with an option to purchase goods directly from them. The manufacturer uses this tactic to increase profit when a few retailers dominate the market. The mill price of a manufacturer, that is, the price of the good at delivery from a manufacturer’s factory, is critical under these circumstances.If the manufacturer charges a franchise fee, thus absorbing the retailer’s profit, this fee is a function of the mill price. Mill price policy can be used to maximize profit on the sale of goods and collection of the franchise fee. The resulting retail market structure becomes preferable for the manufacturer and consumers since the manufacturer’s profit is larger, as is the quantity purchased, compared with a competitive equilibrium in which every firm entering the market area is assumed to move its location instantly without cost. 相似文献
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The goal of this paper is to check if different theoretical approaches to price formation can be verified in the structure of empirical input–output tables. From a propositive point of view, the hypothesis is made of two different markets (the ‘industrial’ market of intermediate and investment goods; and the ‘commercial’ market of final consumption goods), with two different mechanisms of price formation. The consequences of this hypothesis are outlined as regards deflation procedures. An empirical test of the theories about price formation and of the method of deflation suggested by the two-market hypothesis is made using 1985 Italian input–output tables at 1980 prices. 相似文献
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《管理科学学报(英文)》2023,8(1):32-48
This study considers a supply chain consisting of a commodity supplier and a final product manufacturer with uncertain demand. In addition to purchasing from the supplier through a forward contract, the manufacturer can adjust their inventory by trading the commodity in an online spot market after observing the actual demand. However, the spot market is imperfect in that transactions cannot be certainly realized and come with additional transaction costs. Furthermore, the spot price is volatile such that overly relying on the spot market is unwise. To investigate how the spot market affects the decisions and coordination in a supply chain, we develop a game-theoretical model incorporating spot trading. We derive the optimal ordering decision in a centralized supply chain, as well as the supplier's and manufacturer's equilibrium pricing and ordering decisions in a decentralized supply chain. The impact of the imperfect spot market on the optimal decisions and profits is analyzed. This study also demonstrates how the supply chain can be coordinated in the presence of an imperfect spot market. Finally, a numerical analysis is performed to examine the analytical results. Our results indicate that the spot market can generally improve the performance of the centralized supply chain and benefit the manufacturer in the decentralized one. However, it can be detrimental to the supplier. The supply chain can be coordinated by a revenue-sharing contract, and both parties' profits can be improved. Our findings suggest that the manufacturer could take advantage of the spot market, and the supplier should attempt to integrate or coordinate the supply chain to share the benefits of spot trading. 相似文献
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This paper examines the impact of take-back laws within a manufacturer/remanufacturer competitive framework. Take-back laws require that firms take responsibility for the collection/disposal costs of their products. We consider two alternative implementations of take-back laws that are distinguished by the degree of control that the manufacturer has on returns sold to the remanufacturer. In one implementation, known as collective WEEE take-back, the manufacturer has no control over returns sold to the remanufacturer. The other implementation, known as individual WEEE take-back, gives complete control to the manufacturer.We develop a general two-period model to investigate questions of interest to policy-makers in government and managers in industry. Our results suggest that, in some settings, enactment of collective WEEE take-back will result in higher manufacturer and remanufacturer profits while simultaneously spurring remanufacturing activity and reducing the tax burden on society. A negative effect is higher consumer prices in the market. In other settings, we find that collective WEEE take-back introduces a structural change to the industry—creating an environment where remanufacturing becomes profitable when it is not profitable without a take-back law. With respect to individual WEEE take-back, we find that the manufacturer often benefits from allowing the remanufacturer to enter the market, though from a government policy-maker perspective, there are clear risks of monopolistic behavior. 相似文献
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How do globalized economic conditions affect labor market institutions such as unionism? We draw on recent theoretical and empirical work to explore a wider set of hypotheses regarding the decline in unionization. Using a comprehensive data set of US three-digit manufacturing industries from 1973 to 1994, we test the hypothesis that domestic and international competition directly reduces unionization. Using instrumental variable regressions, we demonstrate the relevance of product market competition variables for unionization. However, we are unable to account for the unionization decline over this period. This could reflect the lagged and complex effects of competition on unionization. 相似文献
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本文通过建立内生经济增长理论模型,利用我国1996~2009年30个省份的面板数据,建立空间面板数据模型考察银行业竞争结构对国际贸易影响的区域差异性。研究结果表明,在控制银行业竞争结构、外商直接投资水平等差异后,各省份国际贸易的增长符合条件β收敛假说,表明省际间银行业竞争结构差异是造成各省份对外贸易差异的原因,缩小省际间银行业结构差异,加快落后地区中小银行的发展,提升银行业的竞争力度有利于国际贸易差距的减小。本文为通过改善银行业的结构关系可以促进内陆开放经济高地建设提供了理论及实证依据。 相似文献
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为促进山东半岛蓝色经济区建设,构建山东省海洋经济效益指标体系,本文从海洋经济整体效益出发,综合科技创新、管理及政策、所有制及产业结构、资源和市场、交通及信息等因素的影响,运用AHP法对这些因素进行综合分析,从而形成了涵盖经济效益、社会效益、生态效益、政治效益的海洋经济的效益指标体系,为海洋经济战略制定提供了更为条理的理论工具,对山东省海洋经济的发展具有重要的指导作用。 相似文献
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In 1986, the government of Vietnam commenced the move from a centrally planned system to a market‐oriented economy with a multisectoral economic structure and a multiownership system.This process, known as Doi Moi, has had a major effect on the economic and social fabric of Vietnam. Although the body of research on this topic has grown, few studies have explored the effect of these economic changes on the internal operations of enterprises. In particular, little is known about the relationship between these new forms of ownership and how enterprises structure their human resource management. This article seeks to explore this relationship through detailed case studies of 32 enterprises covering the range of ownership types.The findings reveal a diversity of human resource management practices, but certain practices are now more prevalent in particular types of enterprises; human resource management remains the overall exception. The article concludes by considering the theoretical and practical implications of these results for economies undergoing transition. © 2008 Wiley Periodicals, Inc. 相似文献
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The concept of market structure is at the heart of economic theory. Yet the construct has been largely neglected in marketing. Part of the reason is that it has never been effectively operationalized. In examining the implications of market structure empirical researchers have tended to use single indices for an essentially multidimensional construct. Here we show how markets can be classified objectively using the three key dimensions of structure: market concentration, product differentiation and barriers to entry. The methodology proposed should provide a more reliable base for research into strategic and competitive implications of marketing structure. The purpose of this paper is to develop an operational measure of market structure. The concept of market structure is important both in marketing and economics. Yet empirical work has produced disappointing results.1Both economists and managers have stressed the need for new definitions and measures if useful generalizations are to be developed and the concept is to provide a valuable basis for government regulation over market competition. 相似文献