共查询到20条相似文献,搜索用时 0 毫秒
1.
我国跨国企业资本结构不尽合理,资产负债率总体水平偏低,而且呈稳中趋降的趋势。造成这一现象的根本原因是我国跨国企业在融资顺序的选择上倾向于股权融资而忽视债权融资,存在明显的股权融资偏好,这与融资优序理论相悖。本文以跨国企业为研究对象,从我国跨国企业融资行为及其导致的资本结构存在的问题入手,通过对这种现象产生的原因的深入分析,对我国跨国企业融资结构优化提出了几点建议。 相似文献
2.
经济学教材在讨论一般均衡的时候,往往以两个人、两种生产要素、两种产品这种最简单的社会作为研究对象,它们通常只阐述了一般均衡的存在,但都没有说明这种最简单的社会一般均衡点的确定即以此作为研究对象。 相似文献
3.
基于主成分分析的新疆与全国旅游产业竞争力评价 总被引:3,自引:0,他引:3
王欣 《新疆财经学院学报》2006,(4):16-21
如何发展成为新疆21世纪真正的支柱产业是新疆旅游业的中心问题。通过主成分分析方法,可以看出新疆制定旅游业作为支柱产业的战略发展目标是有可能实现的,但要通过采取指导性的经济政策诱导资金流向旅游业,并进一步做好交通规划,加快交通事业的发展等,以此来促进旅游业的发展。 相似文献
4.
Correlated equilibrium and sunspot equilibrium 总被引:1,自引:0,他引:1
Summary We show by an example that the sunspot equilibria of a competitive economy are not equivalent to the correlated equilibria if sunspots generate transfers between (extrinsic) states of nature (through a contingent commodities market). Nevertheless, we prove that the sunspot equilibrium allocations of a standard overlapping generations economy coincide with the (strategic form) correlated equilibrium allocations of a natural market game mimicking the economy. 相似文献
5.
胡松华 《Frontiers of Economics in China》2008,3(3):482-495
Departing from the traditional profit-maximization assumption underlying the theory of the multinational enterprises (MNEs),
this paper proposes a model of the revenue-maximizing MNE subject to the profit constraint. The nonlinear programming techniques
are used for the equilibrium analysis of the MNE’ s decision-making. A set of optimal conditions is derived regarding the
quantity of output, volume of intra-firm trade, allocation of multinational production, as well as transfer prices in both
exogenous and endogenous cases. Under the context, a comparison of the behavioral differences is made between the revenue-maximizing
MNE and the profit-maximizing MNE.
相似文献
6.
Many firms in developing countries adopt captive power generators to deal with expensive and unreliable supply of electricity. I present a model that combines upstream regulation with downstream heterogeneous firms in a monopolistic competition framework, where firms can pay a fixed cost to adopt this marginal cost-reducing device. The presence of captive power affects the market equilibrium by increasing the level of idiosyncratic productivity a firm needs to survive in the market and by re-allocating sales and profits towards the more productive, adopting firms. Additionally, the rate of adoption is shown to increase with the price of electricity, industries' electricity–intensity and with higher barriers to firm entry. The mechanisms I propose are present for a cross-section of Indian firms. 相似文献
7.
We study a class of stochastic Overlapping generations (OLG) economies that have one-memory equilibria, that is equilibria
that are determined by the current and past realizations of the states of uncertainty. This class is negligible, but important.
In particular, it contains all the known examples of nonexistence of recursive equilibrium. We show that, within this restricted
domain, the existence of recursive equilibrium is actually typical, and such examples are therefore nonrobust.
We thank Felix Kubler, Herakles Polemarchakis and Steve Spear for many useful discussions. This paper was started while the
first author was visiting Columbia Business School. 相似文献
8.
How does outward foreign direct investment (FDI) affect employment growth of the multinational corporations (MNCs) in the home country? Does the impact of outward investment differ by the level of development of the destination country of the FDI? Using a difference-in-difference approach, we assess the impact of starting to invest in less-advanced countries compared with investing in more-advanced countries. To obtain suitable control groups in each case, we use the propensity score method to select national firms that ex post did not take the investment decisions that we study even though ex ante they would have been equally likely to. We find that moving to less-advanced countries decreases a company's employment growth rate especially in the short run. On the other hand, moving to more-advanced countries does not consistently affect employment growth in any significant way. Including investment decisions of established multinationals in the estimation somewhat weakens but does not overturn this conclusion. 相似文献
9.
Yves Balasko 《Economic Theory》2003,21(1):1-18
Summary. In a two-period pure exchange economy with financial assets, a temporary financial equilibrium is an equilibrium of the current
spot and security markets given forecast functions of future prices and payoffs. The temporary equilibrium model can then
be interpreted as an Arrow-Debreu economy where preferences depend on prices. This identification implies, among other consequences,
the existence and the generic determinateness of the financial temporary equilibria associated with given forecast functions.
Received: December 29, 1999; revised version: December 20, 2001 相似文献
10.
The industry life-cycle of the size distribution of firms 总被引:2,自引:0,他引:2
This paper analyzes the evolution of the distributions of output and employment across firms in U.S. manufacturing industries from 1963 until 1997. The firm size distribution changes significantly as an industry goes through stages of its life-cycle. The evolutions of the employment and output distributions also differ significantly, but display strong inter-industry regularities, including that the nature of the evolution depends on whether the industry is experiencing growth, shakeout, maturity, or decline. The observed patterns have implications for theories of industry dynamics and evolution. 相似文献
11.
Ko Nishihara 《Economic Theory》1999,13(2):483-494
Summary. Nishihara [3] showed that N-person prisoners' dilemma has a cooperative Nash equilibrium, if the players decide their actions sequentially in the order determined by Nature under a certain information structure, and if each player's payoffs satisfy a certain inequality. This paper examines the stability of this cooperative equilibrium against two matters: players' slight mistakes and deviations by coalitions. The main results are as follows: (i) if the inequality on each player's payoffs strictly holds, then the cooperative equilibrium is a strictly proper equilibrium; (ii) if N≤3, and if full cooperation is Pareto efficient in N-person prisoners' dilemma, then the cooperative equilibrium is a strong Nash equilibrium; (iii) the cooperative equilibrium is in general a coalition-proof Nash equilibrium. Received: June 23, 1997; revised version: December 2, 1997 相似文献
12.
Prabal Roy Chowdhury 《Economic Theory》2002,19(4):811-822
Summary. We consider a Bertrand duopoly model with increasing returns to scale where one of the firms have a cost advantage and prices
vary over a grid. We find that typically more than one equilibria exist. However, there are only two perfect equilibria. Moreover,
as the size of the grid becomes small, both these equilibria converge to the limit-pricing outcome.
Received: February 25, 2000; revised version: January 9, 2001 相似文献
13.
改革开放二十多年来,民营企业发展迅速,对国民经济的贡献率越来越大。但是很多民营企业的生命周期却十分短暂。造成民营企业短命现象的主要原因是企业创新力与控制力的失衡。创新力是民营企业发展壮大的前提,控制力是民营企业生命健康的保障,创新力与控制力的统一是企业可持续发展的关键,是任何优秀企业成功和长寿的共同“基因”;反之,创新力与控制力的失衡则是企业由盛而衰乃至丧失生命力的“病根”。民营企业从婴儿期、学步期、青春期、成熟期到衰退期的生命过程,实际上就是创新力与控制力从不统一到统一再到不统一的过程。 相似文献
14.
Takeshi Momi 《Economic Theory》2008,36(3):503-513
In this note, we emphasize the role of consumers’ risk aversion in the non-existence of sunspot equilibria in incomplete market economies. We prove that there are no sunspot equilibria if the fundamentals of the underlying economy admit a unique equilibrium for any distribution of endowments. This substantiates Mas-Colell’s (Economic analysis of markets and games: essays in honor of Frank Hahn. MIT, Cambridge, 1992) conjecture. We also prove that, in a two-consumer economy, no sunspot equilibrium exists under the more relaxed condition that the underlying economy admits a unique equilibrium for the initial endowment. This is a generalization of Corollaries 1 and 2 of Hens and Pilgrim (Econ Theory 24:583–602, 2004). 相似文献
15.
Jo J. Voola 《Economics of Innovation and New Technology》2013,22(3):271-288
This paper is a case study of the impact of an exogenous improvement of a process technology on the structure of the petroleum industry. The paper examines the role of three-dimensional seismology in bringing about the 1990s oil industry consolidation. This proposition is examined in the context of evolutionary economics and in a non-cooperative game theory, concluding with a reference to Steindl's theory of industry dynamics. The significance of this contribution lies chiefly in highlighting the fact that exogenous technological change can, under appropriate conditions, play a significant role in industry dynamics. This reference to the exogenous change in technology is a departure from the traditional consideration of endogenity of industry structure in relation to technological development and, therefore, a novelty. Secondly, the documentation of 3D seismology as a significant process technology of the petroleum industry is significant. 相似文献
16.
André Van Dam 《Technological Forecasting and Social Change》1973,5(3):281-293
There are preciously few problems, no matter how intricate, which—when perceived form more different angles and over more time—do not grow in complexity. Perhaps the most complicated problem that crossed this author's path is the development of Asia, Latin America and Africa.Development to what? As a Dutch economist who sees himself preferably as a socioeconomist, I perceive development as a level of human dignity that requires, a priori, employment. For to be unemployed is to be outside society and to lose face, self-respect and income.As a regional planner for a large multinational corporation—CPC International, Inc.—I have studied in some depth what comes first: education or employment; resources or employment; consumption or production; food or productivity; agriculture or industry; growth or distribution. Having been exposed to these problems in various continents, I have reached the conclusion that employment is, on balance, the number one priority.That priority calls for a highly labor-intensive technology, which in this article is termed “intermediate technology”. It constitutes one phase of development that can create rock-bottom employment, a meager but sure and growing income, and human dignity for one billion marginated people in three continents. That objective requires ingenuous technological forecasting for vital social change. 相似文献
17.
Christopher Sleet 《Economic Theory》2001,17(2):371-397
Summary. This paper considers the existence and computation of Markov perfect equilibria in games with a “monotone” structure. Specifically, it provides a constructive proof of the existence of Markov perfect equilibria for a class of games in which a) there is a continuum of players, b) each player has the same per period payoff function and c) these per period payoff functions are supermodular in the player's current and past action and have increasing differences in the player's current action and the entire distribution of actions chosen by other players. The Markov perfect equilibria that are analyzed are symmetric, not in the sense that each player adopts the same action in any period, but rather in the sense that each player uses the same policy function. Since agents are typically distributed across many states they will typically take different actions. The formal environment considered has particular application to models of industries (or economies) in which firms face costs of price adjustment. It is in this context that the results are developed. Received: November 9, 1999; revised version: February 10, 2000 相似文献
18.
This paper introduces time-inconsistent preferences in a multicommodity general equilibrium framework with incomplete markets. The standard concept of competitive equilibrium is extended in order to allow for changes in intertemporal preferences. Depending on whether or not agents recognize that their intertemporal preferences change, agents are called sophisticated or naïve. This paper presents competitive equilibrium notions for economies with naïve agents and economies with sophisticated agents and provides assumptions under which both types of equilibria exist. Surprisingly, the set of naïve equilibria in societies populated by time-consistent households is not allocationally equivalent to the set of competitive equilibria. For sophisticated equilibria, the equivalence holds. Time-inconsistency also raises conceptual issues about the appropriate concept of efficiency. Choices have to be made concerning the incorporation of future preferences and the appropriate instruments to create Pareto improvements. For both naïve and sophisticated societies, we present four possible efficiency concepts. Suitable conditions are specified for which both naïve and sophisticated equilibria satisfy appropriate efficiency concepts. 相似文献
19.
Franco Donzelli 《International Review of Economics》2006,53(4):491-530
The notion of solution plays a crucial role in the conceptual system of Léon Walras, the founder of the General Equilibrium
Theory (GET). In this paper, after introducing the two solution concepts employed by Walras in the development of his version
of GET, respectively called the “theoretical” and the “practical” solution, we discuss the problems such peculiar conception
gives rise to, as well as the attempts Walras makes to dodge them. Then we explain why and to what extent Pareto, Walras’
immediate successor and co-founder of GET, departs from Walras’ original conception, progressively developing an independent
viewpoint on the issue of equilibrium computability in GET. (JEL:B13, B21, B31, B41, C62, C68, D50) 相似文献
20.
基于2000-2017年《中国高技术产业统计年鉴》中29个省市面板数据,首先采用DEA Malmquist指数模型测算了中国高技术产业创新效率,在此基础上运用断点回归方法分析了税收优惠政策对我国高技术产业创新效率的影响。研究结果表明:①总体上以专利为产出指标的创新效率高于以新产品销售收入为产出指标的创新效率,并且以新产品销售收入为产出指标的创新效率处于较低水平,由此表明我国高科研投入与低实际产出的矛盾依然存在;②税收优惠政策对我国高技术产业创新效率有显著正向影响,税收优惠政策对技术研发阶段与科技转化阶段的影响效应不同;③税收优惠政策与企业规模、政府资助合理匹配可放大政策效果。 相似文献