超高层住宅消防设计及系统优化探讨

建筑工程中消防系统的设计及实施是预防建筑火灾发生、减少火灾危害、保障生命财产安全的重要措施,而消防给水是其中的重中之重.《消防给水及消火栓系统技术规范》(GB50974-2014)(以下简称《消水规》)的诞生将消防给水和消火栓内容统一为一本专用的规范,使工程设计人员能有所依据,有章可循.本文通过对《消水规》实施后新建的超高层住宅建筑的消防系统的具体案例设计来探讨《消水规》对超高层住宅消防设计的一些影响及系统优化可行性.     

Non-GAAP earnings reporting following going-concern opinions

We examine non-GAAP earnings reporting following a going-concern audit opinion (GCO). Using a propensity score-matched sample, matching first-time going-concern issuing companies with firms in financial distress that did not receive a going-concern report, we find that the likelihood and frequency of non-GAAP earnings reporting are lower following GCOs. In additional analyses, we find the negative association between the announcement of GCOs and the likelihood and frequency of non-GAAP earnings reporting stronger when GCOs are issued by industry-specialist auditors and when GCOs are unexpected, but do not find litigation risk or managers' ability to affect the association. These results are consistent with a decrease in investor demand for non-GAAP earnings disclosures following GCOs.     

Did quantitative easing reduce the borrowing costs of firms? The risk-taking channel

This paper examines the effect of the Federal Reserve's quantitative easing (QE) on the cost of bank loans and documents large heterogeneous effects across different firms. In QE1, the average loan spread is 22.7 percent lower compared to the non-QE period. This effect falls in QE2 and OT and then rises in QE3 and the tapering period. The rates of riskier loans are restrained more than less risky loans during QEs as banks take more risks by offering lower rates to attract risky borrowers. The Fed mortgage-backed securities purchases have a larger impact in narrowing the borrowing cost difference between riskier and safer loans than the Fed Treasury purchases. Our results are robust to borrower, year-quarter and bank fixed effects. Overall, our findings support that the risk-taking channel of QE plays a significant role in the corporate bank loan market.     

Workforce diversity and financial statement readability

The Securities and Exchange Commission has associated readability with a range of linguistic features largely determined by the language style of the information producers, including sentence length and the use of personal pronouns, familiar words, surplus words and active voice. We examine the impact of a firm's workforce ethnic diversity on its financial statement readability. Based on linguistic literature, we argue that a more diverse workforce increases the linguistic heterogeneity of the inputs into financial statements, hindering financial statement readability. We show that financial statement readability decreases with the ethnic diversity of the workforce, and that this effect is more pronounced for firms located in a community with a high crime rate or low social capital. We also find that the market reacts less to the earnings surprises of firms with less readable financial statements. We further find that the impact of white-collar employee diversity on readability is greater than that of blue-collar employee diversity. The results of robustness tests suggest that workplace diversity does not reduce firms' overall information production quality, which rules out the alternative explanation that employee diversity hinders financial statement readability through increasing employee conflict and communication errors. Overall, our study suggests that workforce diversity is an important determinant of financial statement readability.     

Impacts of Market-based Environmental Regulation on Green Total Factor Energy Efficiency in China

This study employed a difference-in-differences design to assess the effect of market-based environmental regulation on green total factor energy efficiency (GTFEE) in a quasi-natural experiment that investigated China's carbon emissions trading scheme (ETS). The empirical results show that ETS had a positive effect on GTFEE. A series of robustness tests revealed that the results were robust. Potential mechanisms through which ETS can improve GTFEE include the promotion of technological innovation and the upgrading of industrial structure. The positive effects varied in different cities and different regions – the result was pronounced in eastern China and developed cities, but it was insignificant in central and western areas and developing cities. This study confirms the satisfactory performance of China's ETS in improving GTFEE, and this is relevant for other emerging countries.     

Upstream privatization and downstream licensing

This study attempts to investigate the impact of downstream foreign licensing on upstream privatization policy in a vertically related market, in which a public firm and a domestic private firm supply exclusively to downstream domestic and foreign firms, respectively. We show that downstream licensing occurs when the cost differential between downstream duopolists is small, and the optimal strategy under licensing is upstream partial privatization. In addition, downstream foreign licensing facilitates upstream privatization. We further show that downstream licensing improves (reduces) local welfare when the cost differential is large (small).     

我国农民工平等就业权的法律保障

法律面前人人平等是我国宪法赋予每个公民的基本权利,平等就业权也是宪法和法律所保护的基本权利。我国农民工平等就业权还存在如地方政府政策歧视、工时报酬违规突出、社会保障严重缺乏、就业培训相当有限、事实劳动关系普遍等问题。要确实保障我国农民工的平等就业权就必须改革现有的户籍制度、严格执行《劳动合同法》和《就业促进法》、建立城乡统一的劳动力市场和社会保障制度、完善农民工的表达机制和救济制度。     

Antecedents of Green Loyalty in the Cruise Industry: Sustainable Development and Environmental Management

As there is a lack of understanding about cruise travelers' eco‐friendly behaviors and knowledge about eco‐friendly cruises, this study attempted to examine the role of green value, satisfaction, desire, and internal and external normative factors in building passengers' green loyalty for environmentally responsible cruises. A survey methodology and structural equation modeling were utilized to achieve the research purpose. Data quality assessment revealed that all measures for variables included an adequate level of reliability and validity. Results of the structural analysis indicated that our theoretical framework had a sufficient level of anticipation power for loyalty. The proposed associations among study variables were generally supported. The significant indirect influence of green values and social norms on loyalty was identified. Moreover, the magnitude of the total influence of social norms on loyalty was the greatest among the study constructs. Overall, our findings offer valuable and meaningful insights for cruise researchers and practitioners. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment     

国内外科技服务业行业统计分类对比研究

科技服务业既是依托科学技术和其它专业知识向社会提供服务的新兴行业,也是从事富有创造性劳动的智力密集型行业,当前学术界并未对其定义和分类达成统一共识。面对科技服务业行业界定不明确的现状,从联合国及欧洲、美洲、亚洲等主要国家行业标准划分的角度,分析了科技服务业分类现状和变迁,在与我国横向对比的基础上,提炼出“中国科技服务业+商务服务业-科技推广和应用服务业≈国外科技服务业”的公式,总结出各国科技服务业分类的相同之处以及我国异于其它国家的3个显著特点。     

政策不确定性的宏观经济后果

本文采取贝克的政策不确定性指数,运用FAVAR方法分析政策不确定性冲击对中国宏观经济的影响。经验结果发现,政策不确定性冲击对GDP、投资、消费、出口和价格变动会带来负向影响,导致实际有效汇率贬值,促使股票价格和房地产价格下跌。同时发现,政策不确定性作用于宏观经济的主要机制为预期渠道。该结论表明,政府应当尽量保持宏观经济政策的稳定性和持续性,并加强引导公众合理预期。