The housing market effects of discrete land use regulations: Evidence from the California coastal boundary zone

The California coast line borders some of the most beautiful and expensive land in the entire world. The California Coastal Commission was created in 1976 to protect the coast line and to regulate land use within the coastal boundary zone. This well defined regulatory boundary offers a unique opportunity to study the consequences of land use regulation on nearby housing located in the same political jurisdiction. Using two different geocoded data sets, we document gentrification within the boundary and discuss possible explanations for these patterns.     

基于全球公共风险治理视角的中国“大国财政”体系化研究

本文在全面梳理\"大国财政\"相关政策理论和实践经验的基础上,明确了我国\"大国财政\"的内涵和外延,讨论不同参与主体在大国财政体系中的差异化地位与作用,明确\"大国财政\"需要解决的国际问题的重点和边界。研究认为,\"大国财政\"的根本目的是治理全球公共风险,并从风险治理角度进一步探讨\"大国财政\"体系化框架的基本要素和运转机制,提出\"大国财政\"参与主体基本属性的双维度参照系,以及应当从双维度出发做好\"大国财政\"的建设规划与治理主客体的合力匹配。我国\"大国财政\"的未来建设,应重视风险治理主体的单边/多边属性及公共性程度,坚持全球公共风险治理的基本功能,逐步建立风险治理的完整流程,注重提升公共风险治理能力。     

公司治理结构对盈余质量影响的分析

盈余质量受到众多因素的影响,公司治理结构无疑是最重要的因素之一。公司治理结构是一系列的制度安排,良好的公司治理结构,可解决公司各方利益分配问题,对公司能否高效运转、是否具有竞争力,起到决定性的作用。本文主要分析内部治理机制对盈余质量的影响。     

权力时空尺度视角的京津冀一体化体制研究

分析了京津冀发展过程中的主要问题及其体制原因,梳理了国内外区域治理的理论研究和实践经验以及京津冀一体化体制机制的理论研究,提出了应以权力主体与客体时空尺度相匹配为原则,通过地方分权促进城市之间的有效合作,设立区域层面的专业协调机构,为京津冀一体化协调发展提供制度保障。     

国家审计良治的宪政思维

我国宪政环境的变化需要强大的国家审计良治作为支撑。借助政治学中宪政理论的研究成果有助于分析宪政与国家审计的内在机理,可创新国家审计良治的理论建构,站在更高层次阐述国家审计权力的本质、国家审计权力的设置、国家审计权力的目标等基本问题。     

Do Powerful CEOs Determine Microfinance Performance?

Recently, microfinance has been coming under public and media attacks. The microcredit crisis following from microfinance‐induced suicides in 2010 in the Indian state of Andhra Pradesh indicates that weak corporate governance and imprudent risk taking have far‐reaching consequences. Yet, analyses of corporate governance mechanisms among microfinance institutions (MFIs) remain underdeveloped. As a response, this study examines the impact of CEO power on MFI risk taking by deriving explicit predictions of this effect from a characterization of the microfinance industry. Based on a sample of 280 microfinance institutions, our results suggest that powerful CEOs of microfinance non‐governmental organizations (NGOs) have more decision‐making freedom than powerful CEOs of other types of MFIs. This induces them to make more extreme decisions that increase risk. Furthermore, the decision‐making freedom powerful CEOs have in NGOs appears to lead to worse decisions, because the presence of powerful CEOs in microfinance NGOs is associated with lower performance.     

电力行业资本结构实证研究

随着国民经济的不断发展,电力行业在经济中的地位更加突出,作用也更大。作为国家支柱产业,电力的改革也备受世人瞩目。而要想打破电力行业的垄断地位,引入新的竞争主体,提高效率和服务质量,关键是要改善法人治理结构。而其又由资本结构所决定。因此,本文以上市的38家电力公司为样本,运用统计分析中的多元线性回归方法,分析影响电力行业资本结构的财务因素,并在此基础上,结合当前电力改革的方向,对电力公司的治理给出一些建议。     

控制权、社会审计与高管腐败

以2012—2017年沪深两市A股上市公司为研究样本,实证分析社会审计与高管腐败之间的关系,并在此基础上探讨高管权力对其腐败行为的影响。实证结果表明：高管的强控制权是诱发腐败的重要因素,且控制权越强,高管越有可能发生腐败行为;高质量的社会审计在一定程度上能抑制高管的腐败行为,提高公司治理水平;随着控制权的增强,社会审计对腐败的治理功效会被强权高管牵制,无法发挥其应有的监管作用。因此,要遏制高管的腐败行为,必须在企业内部完善对高管权力的监督制约机制,同时要加强外部审计的治理和监管,提升注册会计师的独立性,优化企业内外部治理结构。     

基于EVA的电力上市公司绩效与内部治理结构关系实证分析

本文以我国2002年电力上市公司为样本,运用多元回归法,对电力企业的绩效与其内部治理结构之间的关系进行了实证分析。研究表明,股权结构越集中,电力企业的绩效越差;高管人员的激励和执行董事的比例与企业的绩效正相关;董事会、监事会的规模对电力企业的绩效没有影响。电力企业业绩的提高关键在于保持合理的股权结构和建立有效的激励机制。     

In Sickness and in Health: Recent Judicial Developments in Americans with Disabilities Act Association Discrimination Cases

A little-known provision of the Americans with Disabilities Act (ADA) prohibits covered employers from taking an adverse employment action against a qualified employee if a determinative factor in the adverse employment action is the disability of an associate or relative of the employee. A review of the reported court opinions indicates that plaintiff employees often encounter difficulty in these cases. Some plaintiffs are unable to prove that they are “qualified” employees at the time of the adverse employment action, and other plaintiffs find it difficult to prove that a determinative factor in the adverse employment action was the disability of the associate or relative. However, plaintiffs have achieved some success as evidenced in the 2008 U.S. Circuit Court of Appeals holdings in Dewitt v. Proctor Hospital and Trujillo v. PacifiCorp. This paper describes reported U. S. Circuit Court of Appeals opinions about ADA association discrimination, its relationship to the Family and Medical Leave Act and Employee Retirement Income Security Act, and the implications for employers, employees, and lawmakers. It also offers practical guidance to both employees and employers for asserting and managing rights and potential liability in this area.     

新中国70年经济管理权纵向划分的实践与逻辑

经典国家结构理论在经济或\"政治-经济\"领域的拓展运用,为单一制中国经济管理权的纵向划分提供了理论与实践支撑。以财政分权改革为突破口的财政激励使地方的独立利益诉求得到触发,而经济管理权的下放也使地方在一定范围内能自主安排辖区经济发展方案与措施,并进行有效的经济管理。经济管理权纵向划分效果的评价,需围绕\"央地\"经济管理权行使的统筹协调与经济增长为衡量标准。国家权威体制与有效治理的现实诉求,使经济管理权在\"央地\"间的划分采用的是\"政治集权-经济分权\"与\"财政分权-金融集权\"相结合的微观逻辑,宏观逻辑则体现为\"正式规则-非正式规则\"与\"象征权力-事实权力\"的结合。     

管理层权力、内部控制与过度投资——基于国有上市公司的证据

管理层权力结构是公司内部治理机制的核心要素之一,合理配置管理层权力有利于提高公司内部控制的有效性,进而抑制过度投资。研究发现：（1）内部控制有效性越高,过度投资水平越低;（2）对于国有上市公司而言,内部控制对过度投资的抑制作用受制于管理层权力。在管理层权力集中的情况下,内部控制对过度投资的抑制作用并不显著。     

The Governance of Networks and Economic Power: The Nature and Impact of Subcontracting Relationships

Abstract.  Current debate on networking focuses on network structures and firm strategies. In this perspective, theoretical analysis has been concerned with allocative issues. This essay proposes a different interpretation. Starting from the existing theoretical framework, we emphasise the nature and the implications of different types of networks with respect to socio‐economic development from a distributional point of view. Within this context, we develop the analysis of subcontracting starting from the concept of economic power. We then provide an analysis of governance in production by considering the attitudes and the nature of the actors involved. The externalisation of activities by large transnationals, which characterises current corporate restructuring, is often related to the search for greater flexibility, but also for greater power over governments, labour, and subcontractors. Differently, networks based on the mutual dependence of actors, which are not necessarily built around a large firm, could – under particular conditions – reach large production scales or more complex scopes without breaking the links with territorial systems, thus including local objectives in the strategic decision‐making process. Our conclusion is that the impact of subcontracting networks varies enormously. This is crucial to an understanding of future trends and possibilities. Not least, firms and public policy agencies need to understand the implications of different forms of subcontracting network and how those forms actually differ in practice.