“奥尔森困境”与我国农村公路供给

农村公路是农村地区最主要的甚至是某些地区唯一的运输通道,是支撑农业和农民发展的必要力量,对促进农村地区经济和社会发展具有重要的推动作用,文章在分析我国农村公路供给现状的基础上,认为我国农村公路供给存在奥尔森困境,即农村居民认为修建公路会使总体福利增加,但又不愿付出成本,不愿为增进总体福利采取集体行动,在对这一集体行动的逻辑进行分析之后,提出了相应的对策和建议。     

对企业债券和企业负债率关系的重新认识

我国企业以及一些监管部门普遍把企业债券仅仅当成一种债务,这种观念导致了我国严重的"重股票融资、轻债券融资"现象。本文通过对企业债券与企业资产负债率关系的重新梳理,指出我国企业传统理财观念上的错误,并引入"企业的资产流动负债率"重新考察企业债券与企业资产负债率的关系,希望以此推进我国债券市场的发展。     

财产性收入的战略解读

<正>党的十七大报告中首次提出:"创造条件让更多群众拥有财产性收入"。笔者认为这个提法是十七大报告中最重要的观点之一,将对中国构建更加殷实的小康社会和和谐社会产生重大影响。可以从四个层面对"创造条件让更多群众拥有财产性收入"的观点做出战略性的解读:     

家电企业售后服务业务外包的问题与对策

当前,我国家电企业售后服务外包方面存在的问题,主要表现在企业盲目的甩包袱,追逐短期利益;承包商的选择缺乏依据;售后服务外包的质量考核与审查严重缺失等。家电行业是我国目前市场化程度最高的行业,竞争的激烈程度与日俱增,售后服务外包对整合企业资源、构建核心竞争力的作用愈发重要。家电企业在进行售后服务外包时应评定服务企业业务等级。加强对承包商的资质审查及后期监管,建立售后服务反馈机制,及时规避外包风险。     

“限塑令”对我国制定《循环经济法》的启示

“限塑令”的出台,具有促进资源综合利用、保护生态环境、推进节能减排等重要意义,也同时体现了《循环经济法》的“减量化”和“再利用”原则。更为重要的是,“限塑令”的颁布实施,对于我国制定《循环经济法》’也提供了在注重规定的强制性、合理利用经济手段方面的有益启示。     

古村落居民地方依恋与资源保护态度的关系——以西递、宏村、南屏为例

本文以皖南的西递、宏村和南屏等3个古村落为例,设计量表测量了古村落居民的地方依恋,通过构建结构方程模型探讨了居民地方依恋与其资源保护态度的关系。研究结果表明：（1）古村落居民的地方依恋由地方依赖（ξ）和地方认同（η1）两个维度构成;（2）地方依赖（ξ）对地方认同（η1）有显著的正向影响（γ11=0．87,t=13．13）;（3）地方依赖（ξ）和地方认同（η1）对居民的资源保护态度（η2）有显著的正向影响（γ21=0．57,t=9．85;β21=0．66,t=10．20）;（4）地方依赖（ξ）主要是通过地方认同（η1）影响居民的资源保护态度（η2）,地方认同在其中起着中介作用（γ21直播=0．26,t=1．69;γ21间接=0．36,t=2．79）。本文的研究对古村落的资源保护以及古村落居住新区的建设有一定的现实指导和借鉴意义。     

Determinants and outcome of career competencies: Perspectives of hotel managers in China

This study aims to explore the determinants and outcome of career competencies. Based on the notion that organizations and individuals have respective obligations in the career management of employees’, this study developed perceived “organizational career management’ (OCM) and “career commitment” as determinants and career satisfaction as an outcome of career competencies. Data were collected in the state-owned hotels in China, and structural equation modeling was used to test the proposed relationships. The findings indicate that both perceived OCM and career commitments have positive, direct effects on career competencies. The findings of this study may benefit both hotels and hotel employees by providing valuable implications.     

From hotel career management to employees’ career satisfaction: The mediating effect of career competency

The purpose of this study is to explore the relationships between perceived hotel career management, career competency, and career satisfaction. It also aims to examine the mediating processes through which hotel career management contribute to employees’ career satisfaction. Results from structural equation modeling (SEM) show that career competency mediates the effects of three dimensions of hotel career management (career appraisal, career development, and career training) on career satisfaction. The article concludes with implications for theory development and management practice.     

Impact of financial/economic crisis on demand for hotel rooms in Hong Kong

The main objectives of this study are (1) to identify the factors that influence the demand for hotel rooms in Hong Kong and (2) to generate quarterly forecasts of that demand to assess the impact of the ongoing financial/economic crisis. The demand for four types of hotel room from the residents of nine major origin countries is considered, and forecasts are generated from the first quarter of 2009 to the fourth quarter of 2015. Econometric approaches are employed to calculate the demand elasticities and their corresponding confidence intervals, which are then used to generate interval demand predictions. The empirical results reveal that the most important factors in determining the demand for hotel rooms in Hong Kong are the economic conditions (measured by income level) in the origin markets, the price of the hotel rooms and the ‘word of mouth’ effect. Demand for High Tariff A and Medium Tariff hotel rooms is estimated to have experienced negative annual growth in 2009 due to the influence of the financial/economic crisis, whereas that for High Tariff B hotel rooms is thought to have grown in 2009 after having decreased in 2008. The demand for tourist guesthouse rooms is expected to be the least affected by the crisis. Overall demand is predicted to recover gradually from 2010 onwards.     

Value-at-Risk under Measurement Error

We propose a method for estimating Value-at-Risk that corrects for the effect of measurement errors in stock prices. We show that the presence of measurement errors might pose serious problems for estimating risk measures. In particular, when stock prices are contaminated, existing estimators of Value-at-Risk are inconsistent and might lead to an underestimation of risk, which can result in extreme leverage ratios within the held portfolios. Using a Fourier transform and a deconvolution kernel estimator of the probability distribution function of actual latent prices, we derive a robust estimator of Value-at-Risk in the presence of measurement errors. Monte Carlo simulations and real data analysis illustrate satisfactory performance of the proposed method.