天津农村金融环境保护投融资的路径优化研究

农村环境保护是事关解决＂三农＂问题和城乡统筹发展的公共事业。目前资金问题已成为制约新农村建设中环境保护目标能否实现的瓶颈。本文探讨了天津新农村建设中环境保护投融资的基本现状和困境,并在此基础上试着提出优化天津农村环境保护投融资路径的建议,包括引入多元化的投融资主体和方式、完善投资回报补偿机制、建立城区补偿农村环境机制以及完善投融资的政策法规保障等。     

The sophistication of exports: Is China special?

Recent studies have found that China is “special” in exporting highly sophisticated goods not comparable with its income level. In this paper we identify two measurement biases that account for this “China is special” observation. First, product quality has not been fully considered in the measurement of sophistication, which has caused an overestimation of the sophistication of China's exports. Second, the average income of China has been used to measure the export capability of China, which has caused an underestimation of China's capability of exporting sophisticated goods. After correcting the two measurement biases, China appears much less as an outlier in the cross-country comparison of the sophistication of exports.     

重庆直辖前后农村居民消费与收入纵向对比实证分析

本文运用Keynesian的绝对收入假设消费函数模型,充分考虑重庆直辖前后的差异,将消费与收入的数据分为直辖前和直辖后两个阶段分别进行协整检验并建立误差修正模型,然后对两个阶段所表现出的显著差异进行纵向对比分析,最后提出当前形势下刺激农村居民消费扩大的政策建议。     

古希腊建筑装饰艺术在现代人居环境中的应用

古希腊艺术代表着人类童年时期的优秀成果,其永久魅力与其未成熟的社会条件密切相关。为了更好地揭示、诠释、汲取古希腊艺术的真谛,创造更美的现代人的生活乐园,文章从装饰题材,多元性材料技术、艺术风格三个方面,探究了古希腊建筑装饰艺术及其在现代人居环境中的应用。     

影响区域现金投放的因素分析及对策研究

本文从影响货币需求的因素入手,以镇江市货币流通情况为例,对区域现金投放的情况进行了分析,并通过建立模型,对较显著的因素进行了实证分析。最后通过预设定的经济目标对后期现金投放数据进行预测,并提出相关政策建议。     

Does Accrual Management Impair the Performance of Earnings‐Based Valuation Models?

This study examines how accrual manipulations affect firm valuation in the years surrounding the passage of the Sarbanes‐Oxley Act (SOX). We compare the absolute percentage pricing errors of RIM and DCF valuation models for a group of US firms suspected to have engaged in accrual manipulations to avoid a small loss or a small earnings decline vs. ‘Normal’ firms matched on industry, year and size. We find that RIM can better estimate intrinsic value than DCF for the matched Normal firms in the pre‐SOX period, but not so for accrual manipulators, and that SOX mitigates the harmful effect of accrual manipulations, completely eliminating the difference in RIM's accuracy advantage over DCF between Normal firms and accrual manipulators. As a further analysis, we redefine Suspect firms as real‐activity manipulators and find a significant across‐group difference in accuracy wedge in both sample periods, implying that SOX has prompted firms to favor real‐activity manipulations over accrual manipulations.     

Countermeasures of adaptation to climate change： establishment and application for implementation matrix

In the conceptual framework of adaptation policy assessment to climate change, adaptation measures can be categorized as two groups：facilitation and implementation. Facilitation measures refers to activities that enhance adaptive capacity, while implementation refers to activities that actually avoid adverse climate impacts on a system by reducing its exposure or sensitivity to climatic hazards, or by moderating relevant non-climatic factors. This paper aims to establish a matrix of implementation measures of adaptation to climate change, through four different ways how adaptation can influencc the relevant elements of climate change. reducing the exposure, reducing the sensitivity, alleviating the adverse impacts and reducing the negative non-climatic factors, and then further discuss the particular implementation measures of adaptation to climate change, through application studies on the selected sub-systems, intend to organize the disordered implementation measures in existent, and put forward some new measures under the guidance of this matrix, which could enrich and promote the system and content of implementation measures of adaptation.     

论公用企业反垄断的法律机制

公用企业的自然垄断性已大大减弱，市场机制发挥作用的领域正逐渐扩大。为了适应公用企业发展的这种需求，各国通过废除公用企业特权和专有权、限定基本经济利益等手段，放松了对这些行业的管制，实现了价格形成机制的市场化以及产品销售的市场化。我国要打破公用企业的垄断局面，就应完善部门法的规定，建立有效竞争机制，为反垄断法在公用企业领域的适用提供必要的体制支持。     

对外开放条件下的金融安全问题

我国近几年外贸顺差的连创新高,并且进、出口增长的走势与世界经济的联动性日益明显,我国的实体经济已经越来越融入全球经济的大环境当中。同时,我们外贸结构的升级也正在以更快的步伐前进,我国双边贸易的高速增长仍将维持一段时间。中国股市在经历了“2.27”暴跌之后,全球各主要股市随后也遭到重挫。笔者并不认为目前中国的股市对于全球市场有如此巨大的影响,但是全球石油美元的流动以及日元利差交易的变化情况已经逐渐受到国内投资者的重视,中国资本市场已经成为了全球市场的重要一环。在国内实体经济、虚拟经济与世界联动性不断增强的背景下,我们应该更加关注外部因素对于国内经济稳定性的影响,同时也要从其他国家的历史发展经验当中吸取金融安全监管方面的教训。