现代农业的"重庆模式"

中国农科院农业经济研究所教授蒋和平说,工业反哺农业,城市支持农村,浙江成为前瞻性的样本,但强大财力支持下的乡村之变,并不能成为中国新农村建设的惟一模式。同样,肩负着如何解决重庆及三峡库区“三农”问题神圣使命的重庆渝北国家农业科技园区,9年来,坚持不向国家要一分钱,始终以自己独立特行的方式,努力探索并勇于创新,为发展现代农业提供了一个典型样本。     

环境友好型社会的经济学思考

文章从经济学的角度分析了环境友好型社会带来的几点思考:(1)环境友好型社会呼唤主流经济学“经济人”假设研究范式的变革;(2)环境友好型社会呼唤传统生产力观的变革;(3)环境友好型社会追求的经济增长是绿色GDP的增长;(4)大力发展循环经济是构建环境友好型社会的根本举措。     

Foreign investment,corporate governance and performance in the Chinese listed A Share companies

We present a novel lens on the presence and impact of qualified foreign institutional investors (QFII) in top shareholdings of the non-financial domestically listed Chinese ‘A’ share firms. The initial results suggest that the presence of a QFII as a top shareholder in these companies is associated with their better performance, using both Tobin’s Q and ROA as the performance measures. Our models include variables representing corporate governance mechanisms, foreign legal person shares, a proxy for international affiliations and a number of time-variant firm characteristics. Economically, the coefficient of impact on the market measure is the more significant, while the effect of having a QFII in top shareholdings on both performance measures is empirically significant. Previously, studies have often ignored the potential for reverse causality beyond using lagged regressors. This is problematic. Therefore, we follow up with a 2SLS instrumental variables and system GMM model to further mitigate this potential and find the empirical relationship holds. Contrary to earlier work on QFIIs and governance post-implementation of the QFII scheme, the findings from our models suggest that the presence of a QFII top shareholder augments market performance holding equal existing corporate governance mechanisms and other controls.     

Auditor Experience and the Timeliness of Litigation Loss Contingency Disclosures*

This paper hypothesizes and finds that firms audited by city‐industry specialists have more timely disclosures of contingent losses from litigation when there is no news coverage relating to the legal case prior to management disclosures. A closer examination reveals that this result is explained by the specialist auditors’ prior experience auditing clients in the same office and industry who are involved with litigation. In our setting, disclosures of litigation‐related contingent losses, we identify two kinds of knowledge generated from experience: industry knowledge and litigation knowledge. Industry knowledge helps auditors detect and correct poor implementation of guidance for litigation loss contingency disclosures. Auditors gain litigation knowledge from auditing clients in a given office and industry with previous involvement as defendants. Thus, the two types of knowledge interact in their effects on reporting outcomes.     

Do Analysts Matter for Corporate Tax Planning? Evidence from a Natural Experiment

We exploit an exogenous shock to analyst coverage as a result of brokerage house mergers and closures to examine whether financial analysts influence the tax‐planning activities of the firms they cover. Using a difference‐in‐differences design, we find that, on average, firms affected by broker mergers and/or closures experience a reduction in their GAAP (cash) effective tax rates (ETR) of 2.5 percent (2.6 percent), relative to control firms, translating into average tax expense (cash tax) savings of $34 ($35) million. The treatment effect is more pronounced among firms with lower pre‐event analyst coverage. To explore how analysts affect tax planning, we further document that the treatment effect is greater among firms that lose an analyst who provided an implied ETR forecast in the past, suggesting that analysts influence tax planning via their tax‐specific research efforts. In addition, we find that after merger/closure, weakly governed firms increase their use of aggressive tax strategies, and financially distressed firms experience a larger reduction of cash effective tax rates, relative to control firms. Overall, we provide evidence that a shock to analyst coverage sufficiently changes the cost‐benefit trade‐off of tax planning.     

一览

正中意投资促进中心项目在两江新区正式启动3月28日,由意大利驻重庆总领事馆、两江新区管委会和中国意大利商会,三方共同组建的中意投资促进中心项目在重庆正式启动,举行了签约仪式。这是意大利和重庆两江新区的首个联合项目。中国意大利商会主席大卫·古奇诺、意大利驻重庆总领事倪飞、市政府外事侨务办副     

金融视角下的中国崛起：概念、条件和战略

通过对历史和相关理论的梳理会发现,金融是世界强国的重要支柱和必要条件, 是成为世界强国的必由之路,但是在金融和世界强国的关系方面,研究成果并不多。完善的金 融体系不仅通过提供有效信息与风险分散手段,提高了金融活动的参与意愿,促进了资本积累 和生产率提高,而且,金融也对增强国家软实力有重要意义,强大的金融体系能够有效整合国 际资源,是当今世界强国的必备条件之一。因此,我国实现“强国梦”的过程中,要高度重视 金融的巨大作用。     

我国城乡二元结构测度及其变革的制度创新探析

通过构建测度城乡二元结构的指标体系,应用比较劳动生产率、二元对比系数、二元反差指数以及反映城乡生活质量、社会公共品供给差异的指标,分析我国城乡二元结构的特征发现,制度性缺陷是我国城乡二元结构形成的主要原因。因此,进行制度创新成为城乡二元结构变革的关键和核心。同时,借鉴国际城乡二元结构变革的经验,从户籍制度、土地改革制度、社会保障制度、城乡规划等八个方面探讨了城乡二元结构变革的制度创新之路。     

科技政策对企业创新的作用机制研究——以广东省为例的实证分析

科技创新是立国之本、强国之路。政府在不同阶段制定相应的科技政策,以求持续激励企业参与创新活动、提高企业核心竞争力、促进产业结构转型升级。基于广东省2005-2017年上市公司数据,采用计数模型实证分析了地级市政府科技政策对企业创新的影响及作用机制。研究表明：科技政策力度越大,越能提高企业的创新水平;科技政策的激励作用主要通过研发强度这一中介变量产生;科技政策不仅能促进企业的策略性创新行为,同时也会导致企业的实质性创新行为;直接激励类型的政策对企业创新并无显著影响,而营造创新氛围的间接激励类型政策则对企业创新有着显著的正向影响;政策激励对非国有企业、非高科技企业的正向作用更加明显。     

干法烟气脱硫渣在建材行业中高技术附加值利用的探讨

文章阐述了目前国内外对干法脱硫渣综合利用的现状,以胶凝材料学以及水泥化学为理论基础,将干法脱硫渣中的物质划分为三类,并提出在充分激发其活性的基础上,对干法脱硫渣进行高技术附加值的利用,并详细阐述了其原理和途径。