Carbon Disclosure,Financial Transparency,and Agency Cost: Evidence from Chinese Manufacturing Listed Companies

Given the constraints on carbon emissions due to their impact on global warming, carbon disclosure has become an important way to deliver signals to the market. We examine the benefits associated with carbon disclosure from the standpoint of corporate social responsibility (CSR) for China’s manufacturing industries from 2010 to 2014. We divide corporations into heavily polluting and non-heavily polluting groups in order to control the industry factor. Based on the Principal-Agent Theory, we empirically test the relationship between carbon disclosure and financial transparency, and we evaluate the effect of carbon disclosure on agency costs and operations. Our results highlight that carbon disclosure is negatively associated with agency costs. However, we do not find enough evidence to prove what role financial transparency plays in the relationship between carbon disclosure and agency cost. Therefore, the influence of financial transparency as a mechanism is not yet clear. This study provides a way to look at the intentions of firms that disclose carbon information, and it also enhances the literature on carbon disclosure and agency costs in China based on Chinese data.     

A Dynamic Study on Ecological Disaster,Government Regulation,and Renewable Resources

This article develops a dynamic model to investigate renewable resource markets under different property rights. We find that different property rights regimes in renewable resource markets yield very different equilibria. Under private property rights, the valve point increases with the natural growth rate, productivity, number of firms, and marginal costs. Under common property rights, “the tragedy of the commons” inescapably occurs. This study suggests how to avoid ecological disaster by implementing a set of public policies.     

耦合多元价值的生态风景道规划研究 ——以乌兰察布四横交通带风景道为例

近年来随着中国对交通运输与旅游融合的重视，风景道的研究与建设被提上日程。基于对生态保护、特色景观与休闲游憩的多元需求，由国内对风景道的研究和一系列实例入手，在传统风景道概念的基础上提出建设居于多元价值的生态风景道。同时，以乌兰察布四横风景道的规划为例，研究了基于形态学空间格局分析的生态网络构建、景观视觉评价的景观节点建设及串联沿途旅游资源的绿道系统建设，在实践中探讨了多元价值目标导向下风景道规划设计的策略和方法。     

退社行为对合作社可持续发展的影响分析——来自渤海湾优势区211户退社果农的实证

基于目前合作社中存在的农户退社现象,本文利用211个有效样本实证分析了果农退社行为与果农合作社可持续发展的关系。研究发现:其一,从整体看,果农退社的四种方式均会对果农合作社可持续发展产生显著的负向影响,且负向影响程度由大到小依次为被迫退社、盲从退社、主动退社、隐形退社。其二,从细分维度看,一方面,主动退社、被迫退社和盲从退社会对合作社内部凝聚力、成员积极性产生负向影响,而隐形退社则对这二者无影响;另一方面,四种退社方式均会对合作社组织声誉、政府资源利用产生负向影响。其三,从发展水平看,果农退社方式对高水平果农合作社的可持续发展的负向影响程度相对轻微,且主动退社行为对高水平果农合作社的可持续发展具有显著的正向影响。其四,从比较分析看,果农退社方式对中、低发展水平合作社具有不同程度、不同方向的影响。本文研究结论对合作社管理者采取差异化措施防止退社现象蔓延、优化退社制度安排以及有效利用政府资源具有一定的启发。     

Credibility in Loss Reserving

This article proposes using credibility theory in the context of stochastic claims reserving. We consider the situation where an insurer has access to the claims experience of its peer competitors and has the potential to improve prediction of outstanding liabilities by incorporating information from other insurers. Based on the framework of Bayesian linear models, we show that the development factor in the classical chain-ladder setting has a credibility expression: a weighted average of the prior mean and the best estimate from the data. In the empirical analysis, we examine loss triangles for the line of commercial auto insurance from a portfolio of insurers in the United States. We employ hierarchical model for the specification of prior and show that prediction could be improved through borrowing strength among insurers based on a hold-out sample validation.     

基于BDS的ADS-B报文生成系统

目前国际民航组织（ICAO）和美国航空无线电技术委员会（RTCA）有关广播式自动相关监视（ADS-B）标准中的报文数据源均规定来自全球定位系统（GPS），而中国自主建设的“北斗”卫星导航系统（BDS）作为ADS-B数据源是必然趋势。设计了基于BDS的ADS-B报文生成系统的总体架构，利用BDS接收机接收的真实数据仿真生成了ADS-B的6种报文，并以空中位置报文的生成为例，详细阐述了报文产生涉及的关键技术以及报文的生成过程。通过运行集成后的ADS-B报文生成系统以及对所产生的6种报文的仿真验证，证明该系统总体设计思路合理，运行结果正确，可为基于BDS的ADS-B相关技术研究提供稳定可靠的ADS-B报文源。     

较差质量数据下的返回弹道计算及对落点影响的分析

针对某老式卫星返回时雷达跟踪数据曾发生的测量异常及质量较差等情况，为解决此类数据在返回弹道及落点计算中出现的实际困难以及给出应对措施，基于工程实际情况给出了三种不同建模类型下的弹道计算方法——当前统计解耦扩展卡尔曼滤波（EKF）、动力学建模无迹卡尔曼滤波（UKF）、多项式滑窗最小二乘估计算法，并应用该次质量较差的实际观测数据进行了算法应用效果分析与落点计算情况对比，对计算中的经验及教训进行了总结。研究结果表明，所给出的三种算法在面对较差质量数据时性能差异较大，在工程实际应用中可考虑将多种算法互为参考。研究结果及其经验教训对卫星返回弹道及落点的实时估计的工程实施有一定的参考价值。     

影响酒精酵母发酵效果的因素研究

酒精酵母发酵作为现代工业的一个重要指标,酒精酵母的发酵效果也受到了人们的重视。在同样的条件下使酒精酵母拥有更好的发酵效果是工业造酒想要达到的目标。通过实验来探究在酒精酵母发酵过程中影响其生长速度与繁殖的因素。酒精发酵过程中蔗糖会分解成果糖和葡萄糖,酵母发酵过程中首先利用葡萄糖而后利用果糖,果糖就会成为残留物,使得其产生差异性。通过实验发现影响酒精酵母发酵效果的因素有温度、通风、pH、尿素、糖比例等。     

农村征地补偿制度:从生存权到发展权

我国现行征地补偿制度无论是补偿标准、补偿方式、补偿范围还是补偿的分配都是一种生存权补偿机制.完善征地补偿制度,保障失地农民发展权补偿不仅是维护社会公平正义的内在要求,也是推动城市化发展的必然要求,更是减少征地冲突、维持社会稳定的现实需要.应加快建立基于失地农民发展权补偿的征地补偿体系,完善土地管理制度、征地制度、土地产权制度等相关制度,同时从建立城乡统一的土地流转市场、建立失地农民生活水平衡量指标体系等方面加强相关配套措施的改革.