On the Fisher information matrix of a vector ARMA process

We derive a neat and compact representation of the asymptotic Fisher information matrix of a vector ARMA process. Its inverse can be used immediately as the asymptotic covariance matrix of the Gaussian maximum likelihood estimator. We also provide the robust sandwich covariance estimator when the process is non-Gaussian.     

高校社会问题、社会工作视角及其教学模式

从12世纪起,西方近代意义上的大学（高校）已经走过了近千年的发展历程,为人类知识的创造、知识的传承和应用做出了巨大的贡献。随着社会发展与变迁,大学也被卷入了世俗化、社会化的行业,使得高校不得不面临繁杂交织的社会问题。作为高校主体之一的大学生,被各种心理问题、偏差行为困扰,高校大学生自然成为以青年社会工作为内容的学校社会工作教学对象,需要用灵活的、具有亲和力的社会工作方式与教学模式进行关注和介入。     

珠三角经济发展对高职工商管理专业教学的影响

分析珠三角中小企业特点、现状和发展趋势,以珠三角地区高职院校工商管理专业为例,探讨高职教育如何更好地服务地方经济。根据珠三角人才需求现状和高职工商管理专业本身的特点和就业方向及岗位特征进行专业设置、课程配置和教学设计,形成一套服务珠三角经济社会发展的高职工商管理专业教学体系。     

企业创新文化的精神层结构及其建设

企业创新精神层文化是企业在生产经营管理活动中形成的独具自身创新特征的意识形态和文化观念,是企业创新文化的核心层,包括企业创新哲学、企业创新道德、企业创新精神、企业创新价值观、企业创新目标和企业创新风貌等。针对我国企业文化在全球创新环境下的缺陷和现状,综合分析了诸多影响因素和原因,通过强化企业创新文化的精神层结构及建设,构建了以企业创新精神层文化为基础的新型价值体系。     

Comparative Review of Research on Environmental Impacts of Tourism in English and Chinese Literatures

China is experiencing an increasingly high level of recreation and tourism use of its environments but only limited studies of the environmental impacts of tourism have been published. This paper is based upon a collection of research papers on the environmental impacts of tourism in English and Chinese, especially research on carrying capacity and the physical impacts of tourism. The paper compares the characteristics of research in English and Chinese literatures. It shows that China lags behind the western world in this research field. Chinese researchers need to: (1) be more critical of the feasibility of carrying capacity applications; (2) introduce new technologies in their research on vegetation and soil; (3) know more about the buffering effects of different kinds of tourist trails such as boardwalks, concrete trails, cross-tie trails, cobble trails and so on; (4) try to shed light on possible positive impacts of tourism; and (5) pay more attention to the protection of environmentally sensitive areas. The paper also discusses the dilemmas of research on carrying capacity and environmental impacts.     

浅议高职物流管理专业的定位问题

本文站在高职院校的角度，探讨了物流人才培养的定位，对高职物流管理专业人才培养进行了调查分析，探讨了高职物流管理专业教育的培养目标及培养模式，并提出了合理有效的培养途径和对策。     

Asymmetric cash flow sensitivity of cash holdings

Almeida, Campello, and Weisbach (2004) and Riddick and Whited (2009) offer contrasting conclusions regarding the corporate cash flow sensitivity of cash. We use an augmented empirical model to affirm the conclusion in Riddick and Whited that the cash flow sensitivity of cash is generally negative. In addition, we contend that the cash flow sensitivity of cash is asymmetric to cash flow. The asymmetry may be due to several reasons, including binding project contracts, bad news withholding, and agency costs. Using a sample of manufacturing firms from 1972 to 2006, we document that the cash flow sensitivity of cash is negative when a firm faces a positive cash flow environment, supporting Riddick and Whited (2009), but the cash flow sensitivity of cash is positive when a firm faces negative cash flows. We further divide firms into financially constrained and unconstrained ones and find that the cash flow sensitivity of cash asymmetry continues to hold in both groups. When we use institutional holding as a control for the agency problem, we find that firms with better outside monitoring dissave to capture good investment opportunities. All the results support our hypotheses that firms have different levels of responses to their cash holdings when facing positive and negative cash flows.     

基于乡镇企业战略体制变革的企业文化变革

本文阐述了新时期的我国乡镇企业所面临的竞争局势、产业结构调整问题,乡镇企业急待需要进行战略体制变革;探讨了企业体制变革的维度之一——企业文化变革对于这种企业战略体制变革的功效。具体地描述企业文化变革与战略体制变革的路径选择的优化问题,便于企业操作或实施。     

西部地区高校技术创新评价指标体系设计方法研究

西部地区是我国少数民族的主要聚居区,高等学校在西部地区技术创新活动中起着举足轻重的作用。论文首先阐明设计西部地区高校技术创新评价指标体系的现实意义以及当前我国技术创新评价指标体系研究存在的主要问题;接着着重分析设计西部地区高校技术创新评价指标体系的基本原则,并在此基础上提出设计西部地区高校技术创新评价指标体系的基本框架。     

奥运营销要与奥运精神契合

文章通过分析奥运营销与奥运精神契合的原理和原则,目的是使商家的奥运营销,更具有穿透性。