战略新兴产业政策对企业绿色创新影响研究

以2007-2018年上市公司为研究样本,根据绿色专利数据,采用双重差分方法研究战略新兴产业政策影响绿色创新的问题.研究发现,战略新兴产业政策对企业绿色创新具有一定拉升作用,并可以通过人力资本影响企业绿色创新.     

"1+10"自由贸易区的贸易合作战略构想

一、自由贸易区的类型及"1+10"自由贸易区的贸易合作 自由贸易区即由签订有自由贸易协定的国家组成的贸易区.组成自由贸易区的国家,相互之间取消关税(及非关税)壁垒,使商品在区域内完全自由流通,但各国仍保留各自对区域外其他国家的贸易壁垒.     

中外农村物流发展对策比较研究

"农民真苦,农村真穷,农业真危险"直指我国"三农"问题的存在,也呼吁着"三农"问题的解决。大力发展农村物流,直接关系到"三农"问题的解决,是关系国计民生的大事。本文通过对国际上农村物流发展成功经验的分析和对我国、发达国家的农村物流进行对比,找出我国农村物流发展的差距,并提出对策,以促进我国农村物流的发展。     

强化监理企业伦理建设预防职业道德风险

职业道德风险是监理企业面临的众多风险之一，从产生这种风险的内因角度出发，认为可以通过强化企业伦理建设来预防这种风险，并对监理企业如何进行伦理建设提供了若干建议，这有助于监理企业预防职业道德风险，为企业树立良好的信誉，以增强企业的竞争力。     

跨国化工公司的技术创新及其经济业绩

分析世界上若干著名跨国化工公司的科研、经营、发展状况,阐述了跨国化工公司的技术创新与其经济业绩的关系。     

中央财政扶贫资金使用效率的实证分析

在中国扶贫工作的30余年中,政府特别是中央政府财政扶贫资金投入的力度逐年加大,对于贫困人口数量的减少、贫困人口收入的增加起到了至关重要的作用。但是,同时我们应该看到,由于制度的缺陷,当前财政扶贫资金的使用效率是较为低下的。如何提高资金的使用效率,保证中国扶贫目标的顺利实现,是当前乃至今后一段时期内需要思考的重要问题之一。     

新时代我国高职院校内部审计发展研究

内部审计是我国高职院校强化内部治理不可或缺的重要手段.随着新时代高职院校超常规发展,内部审计促进高职院校内部治理现代化的作用已经明显不足,存在诸多发展中问题.因此,高职院校应当更新内部审计观念认识,提高内部审计人员专业胜任能力,健全内部审计制度,拓展内部审计的监督范围和职能,创新内部审计技术手段并加强内部审计质量控制机制,以实现其内部审计的目标.     

Credit Ratings and CEO Risk‐Taking Incentives

This study examines the sophistication of rating agencies in incorporating managerial risk‐taking incentives into their credit risk evaluation. We measure risk‐taking incentives using two proxies: the sensitivity of managerial wealth to stock return volatility (vega) and the sensitivity of managerial wealth to stock price (delta). We find that rating agencies impound managerial risk‐taking incentives in their credit risk assessments. Assuming other things equal, a one standard deviation increase in vega (delta) will lead to an approximately one‐notch (two‐notch) rating downgrade. In addition, we evaluate the significance of credit ratings in the design of CEO compensation. Our findings suggest that rating‐troubled firms will gear down managerial incentives of risk seeking. In particular, other things equal, a rating downgrade to the lower edge of the investment category (i.e., BBB?) in the immediate prior year will bring about an approximately 51 percent reduction of vega incentive from options newly granted to the CEO in the current year. However, we find no evidence that firms' rating concerns significantly affect delta. Given the significance of credit ratings in the marketplace and their close connection to accounting, the findings of the current study advance our understanding, not only of how sophisticated rating agencies are in incorporating forward‐looking information (i.e., vega and delta) into risk assessments, but of how influential the raters are in changing firms' compensation policies. The findings also have implications on the role of accounting in constraining excessive managerial risk taking with improved disclosures on managerial compensation.