Experiments in Environmental Economics and Some Close Relatives

Abstract.  It is not only the great number of papers written on environment economics that make it worth dealing with this special branch of experimental research, but the environmental problem in all its facets seems to serve as a catalyst for identifying some methodological problems of the experimental method. For this reason, we will not only try to give an overview of recent experiments in environmental economics but also add some thoughts on the methodological implications of this work. We identify three direct connecting factors for the experimental method and environmental economics. First, social dilemmas are, in many cases, at the core of environmental problems. Experiments are able to test theoretical hypotheses for individual behavior in such social dilemma situations. The second connecting factor comes from the field of applied experimental work and can be characterized as the testbedding of institutional arrangements for the solution of environmental problems. The last direct application of experimental methods to environmental economics concerns the individual evaluation of environmental resources.     

中小企业财务管理创新之我见

面对经济全球化和中国加入世贸的新形势 ,中小企业财务管理创新滞后 ,已经严重影响了中小企业的快速、健康发展。本文阐述了中小企业财务管理方面存在的问题 ,剖析了这些问题产生的原因并在此基础上有针对性地提出了解决相应问题的对策。     

管理层持股与公司绩效:一项基于深圳股票市场的实证研究

本文在现有理论和实证分析框架基础上,以在深圳证券交易所上市的331家公司为研究对象,运用非线性回归模型对上市公司管理层持股与经营绩效的相关性进行了实证检验。实证结果表明,公司绩效与管理层持股之间存在三次曲线关系:管理层持股在0%—0·1376%之间时,公司绩效随管理层持股比例的增加而下降;管理层持股在0·1376%—0·7462%之间时,公司绩效随管理层持股比例的增加而上升;管理层持股超过0·7462%时,公司绩效再次随着管理层持股比例的增加而下降。     

历史与现在——国际商法的演进对我们的启示

文中对国际商法从古代商法、中世纪商人法到近代商法国内化以及现代商人法的历史演进过程进行研究,并从纵向和横向的角度解读了国际商法的发展带给我们的启示。     

氯苯甲酸生物降解及环境影响研究进展

I.IntroductionChlorobenzoic acids(CBAs)have been released to the envi-ronment intentionally due to their use in agriculture asherbicides,or unintentionally due to the function,they playedin the aerobic transformation of many chlorinated pollutants,such as polychlorinated biphenyls(PCBs)and alkyl benzenes.Moreover,chlorobenzoic acids are the major intermediate prod-ucts of aerobic catabolism of PCBs and one of the rate-limitingsteps in the overall PCBs degradation process.Degradation ofchl…     

战略环境评价中的公众参与及实施条件分析

本文简要介绍了战略环境评价中公众参与的含义，着重分析了我国公众参与战略环境评价的重要意义和作用，并立足我国国情对实施有效的公众参与所必需的制度框架和技术方法进行了深入探讨。     

城市国民经济和社会发展规划战略环境评价研究——以武汉市为例

城市国民经济和社会发展规划编制是否科学．会直接影响到城市其他规划的科学性，对城市未来的发展及生态环境状况影响重大。本文论述了对城市国民经济和社会发展规划开展战略环境评价的必要性和重要性．并结合（《武汉市国民经济和社会发展第十一个五年总体规划纲要》探讨了我国城市国民经济和社会发展规划战略环境评价的技术思路和技术方法。     

企业价值转移和资本结构:一项实证分析

本文选取2001年沪深A股677家上市公司的市场和财务数据,首先检验两个指标是否具有显著相关性:市值规模比和长期负债比率。并按价值转移理论,利用市值规模比把677家上市公司划分为三组:价值流入期、价值稳定期和价值流出期。实证研究处于不同价值转移阶段企业资本结构的特点。     

Pension Reform, Capital Markets and the Rate of Return

Abstract. This paper discusses the consequences of population aging and a fundamental pension reform – that is, a shift towards more pre‐funding – for capital markets in Germany. We use a stylized closed‐economy, overlapping‐generations model to compare the effects of the recent German pension reform with those of a more decisive reform that would freeze the current pay‐as‐you‐go contribution rate and thus result in a larger funded component of the pension system. We predict rates of return to capital under both reform scenarios over a long horizon, taking demographic projections as given. Our main finding is that the future decrease in the rate of return is much smaller than often claimed in the public debate. Our simulations show that the capital stock will decrease once the baby‐boom generations enter retirement, even if there were no fundamental pension reform. The corresponding decrease in the rate of return, the direct effect of population aging, is around 0.7 percentage points. While the capital market effects of the recent German pension reform are marginal, the rate of return to capital would decrease by an additional 0.5 percentage points under the more decisive reform proposal.     

公司理财的新标准——利益相关者满意度

现代公司是多元契约关系的总和,各利益相关者都有其自身的利益追求。满足各利益相关者的利益要求,既是公司理财的任务、过程,也是公司理财要追求的结果。我本文提出从资本增值标准、信用标准、客户标准、社会标准、员工福利标准等方面考虑设计各利益相关者满意的理财标准。本文认为足够的现金流量是实现利益相关者满意的前提。利益协调机制是实现利益相关者满意的主要制度安排。