机构投资者持股与公司研发支出——基于中国证券市场的理论与实证研究

本文以2006-2009年652家制造业上市公司研发数据为对象验证了机构投资者持股对上市公司研发支出的影响。结果表明我国证券投资基金持股及机构投资者整体持股对公司研发支出有显著的促进作用,但是机构投资者者持股对国有控股公司研发支出的促进作用显著小于非国有控股公司,对市场化指数较低地区的上市公司研发投资的促进作用显著小于市场化指数较高地区的上市公司。这些结果说明我国机构投资者能够显著促进公司研发支出,机构投资者持股成为了公司长远竞争力的一个重要影响因素,但机构投资者对研发支出的促进作用受公司实际控制人产权性质和市场化程度的影响。本文还采用二阶段最小二乘法(TSLS)解决了机构投资者持股的内生性问题。     

煤层底板破坏深度测试在底板水害评价中的应用

煤层底板破坏深度是评价华北型煤矿突水危险性的关键指标,在注水法和声波测试法造价太高且不具备条件的情况下如何获得这一参数,一直是摆在科技人员面前的重要课题.通过轩岗矿区刘家梁煤矿的实验,探索了应变测试底板破坏深度的途径,正确地评价了刘家粱煤矿5124工作面底板突水的危险性,这一方法在我国的底板破坏深度探测领域具有推广价值.     

我国房地产税制改革完善问题的探讨

房地产税制改革是一项复杂的系统工程,涉及政府特别是地方政府、房地产商以及普通老百姓各方的利益.文章从房地产税的理论依据入手,在我国房地产税制改革的背景下,对我国房地产税制的现状和问题进行分析,并通过与发达国家房地产税系的比较,借鉴国外一些有价值的经验,结合我国具体国情,对建立健全房地产税制所必须构建的合理制度环境进行了相应的探索与研究.在此基础上,文章提出了完善我国房地产税制,扩大税基,建立合理的租、税、费体系,完善房地产课税配套制度与政策等建议.     

生态旅游目的地旅游产业集群升级研究

文章把生态旅游目的地的各种旅游设施和旅游企业的集合看成一个旅游产业集群,然后基于生态旅游目的地成长的资源禀赋基础,揭示生态旅游目的地演进的动力机制,剖析了生态旅游目的地旅游产业集群成长机理和模式.考察了旅游产业集群升级的四个维度:以旅游资源保护为核心的吸引力,以旅游需求为前提的拉动力,政府和当地社区对供需的驱动力,旅游环境管理下的保障力.文章提出了促进旅游企业之间的合作、提升各地社区的参与度和建立有效的环境管理措施等促进生态旅游目的地旅游产业集群的升级管理策略.     

Firm Efficiency Differences and Distribution in the Kenyan Manufacturing Sector

Abstract: This article provides empirical evidence on technical efficiency differences and efficiency distribution for three Kenyan manufacturing subsectors, namely food, metal and textile, using an unbalanced panel data covering two periods. Econometric production frontiers are estimated for each subsector in each period. The confidence predictions for these efficiencies were, however, found to be quite wide. The results indicate variation of technical efficiency estimates of the sampled firms in each period. The technical efficiency distribution for each subsector changed not only in relation to itself, but also in relation to the other subsectors across the two periods of analysis. The efficiency distribution of the firms for both food and textile (metal) subsectors improved (declined) during the study period but with the food subsector firms remaining relatively inefficient. The improvement of the technical efficiency distribution for both the textile and food subsectors is an indication of intra‐plant improvement during the period of analysis. The decline of the technical efficiency distribution for the metal subsector suggests that the market orientation during the structural reform period did not promote firm efficiencies or the firms were slow in responding to the reforms.     

Economic nationalism and economic integration: the Austro‐Hungarian Empire in the late nineteenth century 1

This article seeks to square two seemingly contradictory strands in the literature on economic development in the late nineteenth‐century Habsburg Empire. On the one hand, there is an extensive historiography stressing the rise of nationalism and its close correlate of growing efforts to organize economic life along ethno‐linguistic lines. On the other, there is a substantial body of research that emphasizes significant improvements in market integration across the empire as an outcome of the diffusion of industrialization and an expanding railway network, among other factors. In this article, it is argued that the process of market integration was systematically asymmetric, shaped by intensifying intra‐empire nationality conflicts. While grain markets in Austria‐Hungary became overall more integrated over time, they also became systematically biased: regions with a similar ethno‐linguistic composition of their population came to display significantly smaller price gaps between each other than regions with different compositions. The emergence and persistence of this differential integration cannot be explained by changes in infrastructure and transport costs, simple geographical features, asymmetric integration with neighbouring regions abroad, or communication problems. Instead, differential market integration along ethno‐linguistic lines was driven by the formation of ethno‐linguistic networks due to intensifying conflict between groups—economic nationalism mattered.     

Consumption externalities,market imperfections and optimal taxation

In a dynamic model with a keeping‐up‐with‐the Joneses preference and market imperfections, we attempt to investigate under what circumstances and for what reason the optimal tax should be state‐varying. We extend the Ljungqvist and Uhlig (2000) proposition to include preferences that exhibit non‐homotheticity. We show that a keeping‐up‐with‐the‐Joneses preference (a non‐intertemporally‐dependent preference) can lead the social planner to commit to a state‐contingent tax on labor income. Moreover, the optimal labor income tax can be either procyclical or countercyclical with respect to economic fluctuations, this crucially depending on whether the level of contemporaneous consumption increases or decreases the wedge between the intertemporal substitution elasticity of households and of the social planner.     

NATURAL RESOURCE ABUNDANCE,INSTITUTIONS AND TAX REVENUE MOBILISATION IN SUB‐SAHARA AFRICA

The contribution of natural resources to tax revenues has generally yielded mixed results in the literature. This study asserts that the missing link to explaining these differences is the quality of institutions. More resource revenues reduce tax revenues when institutions are poor. Using an interaction term for natural resources and institutional quality, we show that institutions are decisive for the contribution of natural resources to tax revenue mobilisation. The interaction effect is statistically significant after controlling for per capita gross domestic product (GDP), an alternative measure of quality of institutions and additional regressors. This finding is robust to different econometric specifications and the type of natural resources.     

国内蒸馏装置节能降耗的技改措施

原油蒸馏装置已成为炼油厂中能耗最大的装置 ,以降低能耗为中心的技术改造显得十分必要。本文从采用新技术 ,改进工艺过程 ;采用各种新型、高效、低耗设备 ,降低能耗和加强监控 ,优化操作三个方面介绍了节能降耗措施 ,并对国内原油蒸馏装置节能改造提出了建议 ,以供炼油企业在进行原油蒸馏装置改造时参考。