发展生物燃料乙醇对我国区域农业发展的影响分析

本文利用"中国农业可持续发展决策支持系统"分析了不同燃料乙醇发展政策可能对我国农产品价格、整体和各区域农业生产及净产值等的影响。研究结果表明:燃料乙醇发展将显著提高能源作物的农产品价格,对农业发展和农民增收将起到积极的促进作用,但对稻谷和小麦等粮食安全有一些负面影响;燃料乙醇发展对不同区域及不同农户的影响有较大差异;多数地区的农业部门都将从中受益,获益的大小主要取决于各地区在种植能源作物上的比较优势。研究也指出,未来的重点应放在非粮作物以及第二代生物燃料乙醇技术上(即用纤维素生产乙醇),并且应该提高在这些方面的科研投资水平。     

Masculinity,Testosterone, and Financial Misreporting

We examine the relation between a measure of male CEOs’ facial masculinity and financial misreporting. Facial masculinity is associated with a complex of masculine behaviors (including aggression, egocentrism, riskseeking, and maintenance of social status) in males. One possible mechanism for this relation is that the hormone testosterone influences both behavior and the development of the face shape. We document a positive association between CEO facial masculinity and various misreporting proxies in a broad sample of S&P1500 firms during 1996–2010. We complement this evidence by documenting that a CEO's facial masculinity predicts his firm's likelihood of being subject to an SEC enforcement action. We also show that an executive's facial masculinity is associated with the likelihood of the SEC naming him as a perpetrator. We find that facial masculinity is not a measure of overconfidence. Finally, we demonstrate that facial masculinity also predicts the incidence of insider trading and option backdating.