Identifying Organizational Subcultures: An Empirical Approach

Organizations have cultures, but parts of organizations may have distinct subcultures. The question of what is the proper level for a cultural analysis of an organization is generally handled intuitively. The organizational culture of a large Danish insurance company (3,400 employees) was measured, based on employees' answers to 18 key questions about work practices. Subsequently, scores were determined separately for 131 work groups, and these were subjected to a hierarchical cluster analysis, which produced a dendrogram. The dendrogram showed that within the company there were three distinct subcultures: a professional subculture, an administrative subculture, and a customer interface subculture. These fit a theoretical prediction by Jones (1983); the cultural rifts between the subcultures could be readily recognized in the company's practice, and had tangible consequences.     

我国财政与经济增长关系:基于Bootstrap仿真方法的实证检验

不同经济体的财政与经济增长作用关系存在差异性,研究文献对二者理论关系的认识也并不统一。本文采用小样本可靠的Bootstrap仿真方法,利用1952~2003年为样本期的时序数据,对我国政府支出与经济增长进行了Granger因果关系的实证检验。比较研究显示,基于渐近理论的传统检验结果认为,二者不存在统计上的协整关系。利用Bootstrap仿真方法却得到不同的结论,即政府支出与经济增长具有双向的Granger因果关系,意味着我国财政和经济增长存在相互促进作用。本文结论与大多数研究文献观点存在显著区别。     

A Simulation Approach to Nonparametric Empirical Bayes Analysis

We deal with general mixture of hierarchical models of the form m(x) = f_øf(x |θ) g (θ)dθ , where g(θ) and m(x) are called mixing and mixed or compound densities respectively, and θ is called the mixing parameter. The usual statistical application of these models emerges when we have data x_i, i = 1,…,n with densities f(x_i|θ_i) for given θ_i, and the θ₁ are independent with common density g(θ) . For a certain well known class of densities f(x |θ) , we present a sample-based approach to reconstruct g(θ) . We first provide theoretical results and then we use, in an empirical Bayes spirit, the first four moments of the data to estimate the first four moments of g(θ) . By using sampling techniques we proceed in a fully Bayesian fashion to obtain any posterior summaries of interest. Simulations which investigate the operating characteristics of our proposed methodology are presented. We illustrate our approach using data from mixed Poisson and mixed exponential densities.     

财务理论规范研究与实证研究方法

财务理论研究领域应用的研究方法从研究思维模式考察可划分为规范研究方法和实证研究方法两大类。当前，我国财务理论界对这两种研究方法的认识产生了一定的分歧和争议，而理论的完善与突破往往是从正确选择研究方法开始的，因此，对旨在提高我国财务理论研究质量和效果的研究方法的探讨，具有重要的理论价值和现实意义。本拟在对这两种研究方法进行探讨的基础上得出启示，以期对我国财务理论研究方法的选择有所裨益。     

An Alternative Approach to Poverty Analysis

A model of the household in which production and consumption activities are not separable is developed in order to provide micro-economic foundations for an alternative to the standard approach to poverty analysis. The alternative suggests that socio-economic groups and their respective livelihoods should be the basic building blocks for analysing poverty within a general equilibrium framework.     

Hospital Reimbursement Incentives: An Empirical Analysis

Reimbursement systems for health-care providers are very complex, like the production systems that they regulate. This complexity has led to some important misperceptions about the incentive consequences of major reimbursement reforms. One example is the prospective payment system (PPS), developed to provide "high-powered" incentives through fixed prices for hospital admissions for the US elderly. In fact, various features of the DRG system allow reimbursement to vary with actual treatment decisions during an admission, and so are not prospective. This paper develops a general method for measuring actual reimbursement incentives in complex regulated price systems. The method uses regression techniques with variance decompositions to quantify the effects of particular features of the payment system on prospective and retrospective cost sharing, as well as overall generosity of payments. I apply this method to microdata on 20 percent of Medicare hospital admissions in 1987 and 1990 to summarize the incentives created by PPS in practice, and how the incentives are evolving over time. I show that PPS involves limited and decreasing cost sharing with hospitals, most of which is not prospective. The reimbursement incentives vary substantially across diagnoses, demographic groups, and types of intensive treatments, possibly with important implications for hospital behavior and medical expenditure growth. The techniques developed here can be used to analyze a broad range of provider reimbursement mechanisms.     

价格水平决定的财政理论:一个实证综述

龚六堂和邹恒甫曾肯定地认为,价格水平决定的财政理论是个无法检验的理论,但我们研究后发现,他们之所以得出无法检验的结论,是因为他们是基于跨期预算方程是均衡条件来定义的,而根据该定义的确难以导出可行的识别理论的条件。若采用以动态一般均衡框架为基础的定义,则会出现乐观的情形。本文有助于回答下面两个重要问题,第一个是该理论在中国是否具有适用性?第二个是什么样的政策搭配才能有利于价格水平稳定和可持续性经济增长?     

开放式基金赎回现象的实证研究

我国的开放式基金在迅速发展的同时也经历了大规模的赎回。本文运用2002年和2003年开放式基金的季度规模数据,对基金的赎回率进行实证分析。研究表明,我国开放式基金的赎回存在着非理性的行为,表现为赎回比率过大、赎回与风险及回报的关系不明显、短线的赎回十分突出等。这与我国开放式基金发行制度上的一些缺陷是分不开的。另一重要发现是,投资者普遍关心基金的系统风险,而不关心基金的总体风险,这在客观上助长了基金持股高度集中的行为。     

质量管理实践的实证研究

在相关文献分析的基础上,通过对质量管理实践和企业绩效的界定,利用对苏州、南京和徐州三地企业的调查资料,探究质量管理实践对企业绩效的影响,并对一些学者的研究结果进行验证。结果显示,质量培训、流程管理、顾客关系等9项质量管理实践对企业绩效有显著影响,不支持管理者承诺对企业绩效有显著影响的观点。     

过度反应持续时间的实证研究

过度反应最大值的确定是证券投资理论和实践中的一个重要问题。本文通过对中国股票市场的统计分析,首次提出了过度反应持续时间在不同区间内分布的相应概率。从持续时间的角度估计过度反应最大值区间。     

An Empirical Model of Urban Spatial Development

This paper examines land development patterns by using an integrated approach that combines Geographic Information Systems (GIS) and spatial econometric models. It presents evidence that land development sites are affected by each other, and that any attempt to analyze the land development process without consideration of spatial dependence will most likely yield biased parameter estimates, misleading significant levels, and insufficient estimates of the dependent variable. It is found that spatial lagged variables not only improve model performance substantially, but also reveal the presence of clustering land development. This paper demonstrates that incorporation of spatial statistics is made easier with the application of GIS.     

各种指数基金模型的实证比较分析

在指数基金管理方面,存在着多种优化的指数投资组合的构建方法和绩效评估方法,本文以实证研究的形式,比较分析了由5种“选股”方法和5种“资金配置”方法所构成的25种投资组合在各种绩效评估方法下的表现。最终得出结论认为,在遗传算法下利用DMinMax模型配置资产权重将具有较好的投资绩效。     

股票市场波动非对称性的实证研究

金融市场的波动有许多特点,股票市场波动的非对称性是指同等程度的利好消息与利空消息对股票市场波动的影响不相同.本针对我国上海股票市场波动的非对称性展开深入的实证研究,得出与国外股票市场相反的结论,即在我国上海股票市场,同等程度的利好消息对波动的影响更大.最后从投资结构、心理和交易机制等方面解释这种现象.     

我国上市公司股利政策实证研究

影响股利政策的因素有法律方面的,也有公司自身方面的。其中公司自身的资本结构是最主要也是最关键的因素。资产负债率、资产的流动性、负债的内部结构以及公司规模、股权集中度会直接影响到股利分配。     

智力资本价值趋动分析

采用美国标准普耳(S&P 500)健康医疗公司2001年至2004年财务报表及相关资料建立企业智力资本价值模型。根据相关理论,将影响智力资本价值的因素分成创新资本、客户资本、人力资本和运营流程资本。研究发现,创新资本、客户资本和人力资本是智力资本价值提高的正相关趋动力;运营流程资本则具有调节影响作用;具有高额运营流程资本的企业必须提升客户资本,增加智力资本,维持企业持续竞争优势。     

我国城市增长模式的实证分析

城市规模和数量增长的规律性研究有助于理解和分析城市化过程,并将城市增长理论与一般的经济增长理论区别开来.采用面板单位根检验方法和协整检验方法对中国城市的收敛性特征和平行增长特征进行了实证检验.研究结果表明,1992-1999年我国城市经济增长存在着收敛特征,而2000-2007年我国城市经济增长不存在收敛特征.从整体上看中国城市增长不存在平行增长特征.而对于处于同样规模、区位和区域政策的城市,确实呈现出了城市内生增长理论所预言的平行增长特征.