Listing advantages around the world

Using the firm-level data of 33 countries over 10 years (2008–2017), we find that the listed firms have lower returns on assets than the similar unlisted firms, in most countries. The result is associated with a higher capital-labor ratio of listed firms, implying that the listed firms face less financial constraints. Moreover, we investigate the institutional factors that exacerbate or mitigate the listing advantages (i.e., ROA difference) across the countries. Compared to English origin law, countries with German and Scandinavian legal origins strongly narrow the listing advantages but the French legal origin shows mixed results. Overall, the listing advantages seem narrowed with stronger creditor’s rights but show unclear associations with the strength of corporate governance.     

Skill-biased technology transfer around the world

In this paper we consider the extent to which skill-biased technologicalchanges are transferring across international borders, therebyaltering the skill structure of labour markets. Evidence ofincreased relative demand for skilled workers is uncovered inthe manufacturing sectors of 37 high, middle-, and low-incomecountries. Skill-biased technology transfer is central to theincreased demand for skilled workers in middle-income countries.In low-income countries there is less evidence of such a mechanismoperating.     

吕建明：张弛在天地之间

葡葡酒与高楼大厦，风马牛不相及。然而，这些都是吕建明的最爱。 在一个落霞飞渡的黄昏，舒缓的音乐声中，手握一杯紫色的波尔多红酒，静静与时光对语……此时，是他一天中心境最惬意的时刻     

谦虚 谨慎

希望相关部门在为国为民服务上，更应少些霸气，多些为民服务的精神，谦虚谨慎，戒骄戒躁     

Health and Financial Strain: Evidence from the Survey of Consumer Finances

Using data from the Survey of Consumer Finances, this study examines the relationship between health status and financial strain controlling for the dual endogeneity between the two factors. Simultaneous two-stage probit models are estimated for self-reported health status and three measures of financial strain. The results from all three models indicate that poor health significantly increases the probability of financial strain. There is little evidence that financial strain contributes to poor health. The findings suggest that severe health conditions may result in larger financial burdens while large financial burdens are unlikely to accelerate a decline in health status. In the end, health may be contributing to widening financial disparities, especially among the poor who are in poor health.     

对完善我国就业税收政策的思考

就业问题是关乎各国国计民生的问题,也是每个国家都存在的现实问题.为此,我国政府陆续推出一系列有关就业方面的税收政策以缓解就业压力,这在一定程度上对就业起到了促进作用.但在实施过程中问题也随之不断地出现,降低了就业税收政策执行的效力.因此,只有不断完善就业税收政策和加强各实施部门的密切配合,才能有效地发挥就业税收政策的作用,更好地促进我国经济的发展.     

李元东做台商的“娘家人”

1988年,第一家台资企业落户济南,掀开了台商在济南投资创业的新篇章。1979年以后,中国大陆采取一系列推动两岸经济关系发展的措施,台湾当局也逐步放宽了一些对两岸经贸往来的限制,两岸经贸交流日益增多。特别是1992年邓小平南巡讲话后,台     

TCL集团构建全产业链领跑彩电业

2009年,TCL集团国际化以来首次实现销售收入正增长,经营性盈利同比增长2倍多。2009年岁末,TCL又顺势而上,启动8．5代液晶面板生产线项目,将成为国内首家具有液晶电视全产业链能力的彩电企业     

做英雄还是做枭雄

众所周知,从中关村走出了两个中国商界"大佬",或者说商业领袖--柳公和段公。