基于CPI与PPI差值的资产配置效果评估：2005-2010

本文在众多的宏观经济指标中合成出反映企业利润变化的关键指标CPI-PPI,分析该指标与股票市场、债券市场波动的相关性,并根据这一指标的变化模拟资产配置的动态调整过程,检验使用该指标进行资产配置的有效性。     

Why has China’s vertical specialization declined?

Vertical specialization (VS) is quantified by the VS share, which measures the average import content per dollar of exports. A characteristic of China’s export trade is its strong dependence on assembly and processing activities. To take proper account of this, China’s VS shares should explicitly distinguish processing export production from other production. We estimate China’s annual VS shares from 2000 to 2012—the latest year for which a special input–output table is available that makes such an explicit distinction. We find that VS shares increased from 2000 to 2004 and subsequently started to decrease. To explore why it has declined, we introduce a new structural decomposition approach. We find that the decrease of the VS share appears to have been driven mainly by the substitution of imported intermediates by domestic products. This occurred in particular in the production of exports, which implies an upgrading of China’s position in global value chains.     

我国证券公司的现状及发展对策

<正>刚刚过去的这个冬季并不太冷,是我国连续第１６个暖冬。但是对于国内的券商而言,这无疑是有史以来最为寒冷的一个冬季,减薪、裁员、部门整合已成为大部分券商无奈的选择。证券业内流行着林采宜博士的一句话“活着就是胜利!”     

论我国农业企业化经营的实现途径

实现农业企业化经营,对我国发展现代农业具有十分重要的意义.但是在我国现有条件下,由于农业融资不畅、小农生产方式阻碍分工、剩余劳动力难寻出路、路径依赖作用和小农意识刚性等方面的原因,农业企业化经营的实现途径不可能是自发的.因此,实现农业企业化经营,只能走政府扶持企业、企业扶持农户的路子.只有政府扶持企业,才能引导资金流向农业生产,才能突破路径依赖的瓶颈,才能使企业有效地扶持农户,才能打破劳动力转移在宏观上的胶着状态,从而尽快实现农业的企业化经营.     

Behavior patterns of investment strategies under Roy’s safety-first principle

The safety-first principle is a natural motivational factor in decision making, and is closely related to certain popular heuristics such as satisficing. We provide a systematic analysis of optimal portfolio choice under Roy’s safety-first principle by examining and comparing the behavior patterns of three popular investment strategies: the optimal constant-rebalanced portfolio, dynamic-rebalanced portfolio and buy-and-hold strategies. Our results indicate the importance of a match between the investment strategy, the investment goal, and the investment horizon. We also develop a geometric approach to investigate the relationships among the safety-first, expected utility, and mean-variance models and offer an explanation for the long-standing debate concerning different patterns of time-diversification effects.     

RETRACTED ARTICLE: Modern Business Ethics Research: Concepts,Theories, and Relationships

The main purpose of this study is to explore and map the intellectual structure of business ethics studies during 1997–2006 by analyzing 85,000 cited references of 3,059 articles from three business ethics related journals in SSCI and SCI databases. In this article, co-citation analysis and social network analysis techniques are used to research intellectual structure of the business ethics literature. We are able to identify the important publications and the influential scholars as well as the correlations among these publications by analyzing citation and co-citation. Three factors emerged in this study are: (1) ethical/unethical decision making, (2) corporate governance and firm performance, and (3) ethical principles and code of conduct.     

郑琦：有情有义的城市，有情有义的晚会

作为《电影爱青岛暨青岛籍百名影人贺新春》大型文艺晚会编导摄制人员中少有的非青岛籍人员，本次晚会的总导演也是电影频道知名导演的郑琦显得有点特别，但是作为青岛人的朋友，谈起这次能够亲自参与到此次盛会中，他显得很兴奋：“青岛是一座有情有义的城市，这更是一台有情有义的晚会。”     

分工深化、代工和迂回生产——基于古典经济学视角的研究

借助于代工生产方式的工业化发展道路,虽然有助于发展中国家实现起飞或低端阶段的工业化进程,但是在发展中国家进行到高端工业化进程中,却广泛地出现了低端锁定的问题。本文基于古典经济学的分析视角,借助分工理论对代工生产方式进行了深入的分析,阐释了代工模式产生的条件,对以中国为代表的发展中国家和地区制造业低端锁定问题进行了深入探讨。本文认为技术水平落后的发展中国家和地区制造业在发展过程中,旨在充分发挥各自资源禀赋差异带来的比较优势的选择行为,将引导这些地区的制造业主动、自发自然的融入全球范围制造业分工体系,主动、自发自然的被低端锁定。因此,只有依靠相关政策制定部门通过产业政策和贸易政策的协调,从外部引导制造业企业实现企业升级和产业升级,弥补市场资源配置方式和分工机制的缺陷。