东京都市圈生活功能建设经验及对中国的启示

在超千万人口的都市圈中,东京在生活体验上一直广受赞誉,是全球各大宜居城市排行榜的“常客”。东京都市圈在发展过程中面对内城拥挤加剧、生活成本增高、生态环境变差等问题,从居住、休闲、生态等方面构建美好生活圈。东京都市圈以生活圈建设缓解城市问题的主要做法包括建设职住平衡和适应老龄化的“宜居生活圈”、构筑便捷舒适的“休闲生活圈”、打造高效流通的“新鲜生活圈”、塑造生态美丽的“绿色生活圈”。借鉴东京的经验,中国都市圈建设应立足高质量发展,建设“非自立”新城、实施“交通+”策略、培育都市圈外围品质生活节点、以集约方式增强经济和人口承载力为重点推进生活圈建设。     

海南省婚庆产业集聚及其影响因素研究

本文借助产业集聚理论和波特菱形理论,利用产业区位熵对海南省近年来婚庆产业集聚情况进行了测度分析,发现海南省婚庆产业集聚水平在2010年前低于全国平均水平,2011年开始超过全国平均水平,取得了一定发展。2013年婚庆产业集聚水平有明显的增幅,之后保持着良好态势。运用SPSS软件中因子分析和主成分分析方法对海南省14个市县婚庆产业数据进行分析,在影响海南婚庆产业集聚水平的因子中提炼出主要因子是产业政策因子、产业环境因子和产业需求因子,最为主要的是产业政策因子,产业环境因子次之,产业需求因子再次之,并通过因子得分系数进行计算综合排名,发现海南省各市县婚庆产业发展极其不均衡,呈现两极独大趋势。     

保险公司破产模型研究

在确定的资金利率和通货膨胀率下,构造了一个一般的盈余过程,推广了[2]的结果,从而使保险公司破产概率更具实际意义,并可作为保险公司予警系统的重要指标。     

集约用地政策应实现三个转变

现行土地利用管理机制,总体上强调的是政府行政职能在促进建设用地集约利用过程中的作用,尚未从根本上建立起促进建设用地集约利用的内在长效机制,未建立起对土地市场主体集约用地的有效激励和约束机制。占供地比重最大的工业等生产经营性用地仍主要以协议出让方式进行行政配置,缺乏集约用地的内在动力在当前条件下,完善集约用地政策的重点应放在三个方面的转变上:一是由行政配置为主向市场配置为主转变;二是对建设项目由重视资产属性向重视生产要素属性转变;三是用地管理由重审批向重监管转变     

农村劳动力结构性短缺的影响因素分析——基于湖南省224份问卷的调查

随着农村劳动力不同质的转移,大量农村地区出现了劳动力老龄化、妇女化、低素质化等现象,留守的农村劳动力出现了严重的结构性短缺,农村劳动力一定程度的畸形转移与结构性缺失,使得农村发展过渡到了一个瓶颈阶段。文章基于224户农户的调查数据,运用因子分析方法,对影响农村劳动力结构性短缺的因素进行了实证分析。模型结果表明:农村劳动力结构性短缺受人力资本、家庭、收入、就业因素的影响。其中,(1)人力资本因素,人力资本因素的贡献率是最大的,留守农户拥有技能、接受培训与否直接影响着农村劳动力的结构;(2)家庭因素,家庭年纯收入、家庭人口数量、土地经营情况对农村劳动力结构性短缺的影响较大,(3)收入因素,本人月收入的影响权重较大;(4)就业因素,就业因素的影响力度较小,农户从事的行业以及就业地点间接影响农村劳动力结构性短缺。针对模型结果,提出几点政策建议。     

长株潭两型社会建设中统筹城乡发展问题探讨

文章对长株潭两型社会建设中统筹城乡发展问题进行了积极、深入的探讨。分析了统筹城乡发展与试验区两型社会建设的关系,通过相关协调发展指标量化评价了长株潭统筹城乡发展的现状,指出了城乡统筹发展的难点和瓶颈,由此提出长株潭两型社会建设中统筹城乡发展的对策建议,为推进长株潭试验区改革建设提供有力的决策参考。     

Stock price firm‐specific information on the choice of stock payment in mergers and acquisitions

Previous studies on the choice of stock payment in M&A mainly focus on managerial private information. This study shows that managers also learn new firm‐specific information from financial markets in making this decision. The acquirer's stock price firm‐specific information increases the stock‐payment‐to‐Q sensitivity. The target's stock price firm‐specific information decreases the stock payment probability. Further analyses on deal and firm characteristics as well as shareholder wealth in stock mergers support the managerial learning argument. Overall, this study highlights a new set of information that affects the form of merger payment in mergers and acquisitions.     

China wage inequality: the role of trade and technology

This article empirically investigates the impact of international trade and technical change on skill premia for a panel of 28 manufacturing sectors in China over the period 2002–2011. The results find that the effect of changes of the share of SOEs is twofold. First, the contraction of SOEs promoted productivity growth, and the promoting effect was skill-biased, which tended to increase the skill premia in China. Second, the drop of product prices resulting from falling SOEs share was more magnificent in skill-intensive industries, which helped to mitigate wage inequality through product prices. The accounted-for portion of price changes by productivity growth was skill-biased, significantly raising skill premia through product prices. However, the portion of price changes accounted for by foreign price was unskill-biased, and world price competition diminished the growing income disparity in China.     

Does foreign institutional ownership increase return volatility? Evidence from China

This paper investigates the impact of foreign institutional ownership on firm-level stock return volatility in China, based on our study of a sample of 1458 firms between 1998 and 2008. The empirical results show that share ownership by foreign institutions (both financial and non-financial) increases firm-level stock return volatility, even after controlling for a complete ownership structure, firm size, turnover, and leverage, and correcting for potential endogeneity problems. However, the results also show that foreign individual shareholdings reduce volatility. Furthermore, we document a positive relationship between domestic shareholdings (individual, institutional, and governmental) and firm-level stock return volatility. Empirical results with interaction terms show that foreign institutional ownership increases firm-level return volatility by strengthening the positive impact of liquidity on volatility. The volatility reduction effect of foreign individual ownership is attenuated by government ownership suggests a poor governance environment as a result of the involvement of the Chinese government.