浅析我国上市公司外部治理中的信息披露问题

近年来,国内许多学者从分析公司的内部治理入手,强调公司产权明晰与激励机制等措施对完善公司治理的重要性。目前从外部治理的角度分析公司治理的研究成果比较少见。本文从外部治理的市场角度与政府监管角度,利用案例分析方法,揭示我国在构建外部治理信息披露方面所存在的问题,并提出完善外部治理信息披露的若干建议,不断完善我国现代企业制度。     

采用云计算技术的网络流量检测

为了实现对现网大数据网络流量的实时、有效检测,提出了一种基于云计算的网络流量检测方案。该方案充分利用Hadoop平台Map/Reduce编程模型在海量数据处理方面的优势,采用分层化的设计思想,克服了传统检测方案在海量数据应用环境中效率低下、可扩展性与安全性不足的缺点。重庆移动DPI平台应用表明,该方案较为有效,流量检测效果良好,在大数据处理时效率较普通分布式处理有明显提高。     

Does Opinion Shopping Impair Auditor Independence and Audit Quality?

This study investigates how companies' threats to dismiss auditors and their engagement in opinion shopping influence auditor independence and audit quality, which in turn affect misstatements in financial statements. It also examines how outsiders' reactions to auditor switching influence opinion shopping. The results indicate that neither the predecessor auditor's nor the successor auditor's independence is compromised by dismissal threats and opinion shopping. Further, the successor auditor's audit quality exceeds the predecessor auditor's audit quality. In addition, auditor switching decreases potential understatements and increases potential overstatements in financial statements, and the capital market's and the successor auditor's reactions to auditor switching reduce the benefits of opinion shopping to companies. Additionally, the study sheds some light on the potential effects of both the Sarbanes‐Oxley's restriction on non‐audit services and mandatory auditor rotation or retention. The paper also derives a rich set of empirical implications.     

面向绩效预算的基层单位预算绩效评价指标体系规划

剖析财政部近期预算绩效评价部署与远期绩效预算改革定位的政策基调,提出面向绩效预算的预算绩效评价视角,整合绩效目标与预算管理流程,规划绩效预算导向的基层单位预算绩效评价指标体系,弥补现阶段国家主要以中央部门为对象的重点专项预算资金局部试点的制度缺陷。     

国内上市银行薪酬制度对国有商业银行的启示

国内A股上市银行注重薪酬的激励作用,对关键性管理、技术岗位和高素质短缺人才岗位实行倾斜性分配政策。同国内上市银行相比,国有商业银行薪酬机制还没有建立起规范的岗位职级体系,工资总额核定不够科学,薪酬制度缺乏科学规范的业绩考评指标体系支持。为加强国有商业银行薪酬市场竞争力,国有商业银行应改革现行工资总额分配体系,构建以业绩为导向的考评指标体系,并建立长效分配激励机制。     

基于公平偏好理论的锦标机制研究

在完全竞争的劳动力市场和产品市场中，分析了公平偏好的员工是同质和异质两种情况下，最优锦标机制的设计及效率问题。研究表明，公平偏好锦标赛模型比传统锦标赛模型更具一般性。     

中国沿边口岸与城市腹地互动机理研究

对我国沿边一类口岸城市分类后,在建立沿边口岸城市经济竞争力指标体系基础上,通过SPSS11.5软件的因子分析,揭示我国现阶段沿边口岸与城市腹地互动机理.研究结果表明,口岸经济是岸城一体化的根本动力,口岸经济地域单元是岸城互动的地域增长空间.目前,口岸经济因子对沿边口岸县级城市的综合发展影响明显,对沿边口岸地级城市发展影响较弱.在口岸经济地域单元内加速推进型产业的极化增长是实现沿边口岸与市域腹地互动的本质.     

Optimal insurance under rank‐dependent utility and incentive compatibility

Bernard, He, Yan, and Zhou (Mathematical Finance, 25(1), 154–186) studied an optimal insurance design problem where an individual's preference is of the rank‐dependent utility (RDU) type, and show that in general an optimal contract covers both large and small losses. However, their results suffer from the unrealistic assumption that the random loss has no atom, as well as a problem of moral hazard that provides incentives for the insured to falsely report the actual loss. This paper addresses these setbacks by removing the nonatomic assumption, and by exogenously imposing the “incentive compatibility” constraint that both indemnity function and insured's retention function are increasing with respect to the loss. We characterize the optimal solutions via calculus of variations, and then apply the result to obtain explicitly expressed contracts for problems with Yaari's dual criterion and general RDU. Finally, we use numerical examples to compare the results between ours and Bernard et al.     

Arrow–Debreu equilibria for rank‐dependent utilities with heterogeneous probability weighting

We study Arrow–Debreu equilibria for a one‐period‐two‐date pure exchange economy with rank‐dependent utility agents having heterogeneous probability weighting and outcome utility functions. In particular, we allow the economy to have a mix of expected utility agents and rank‐dependent utility ones, with nonconvex probability weighting functions. The standard approach for convex economy equilibria fails due to the incompatibility with second‐order stochastic dominance. The representative agent approach devised in Xia and Zhou (2016) does not work either due to the heterogeneity of the weighting functions. We overcome these difficulties by considering the comonotone allocations, on which the rank‐dependent utilities become concave. Accordingly, we introduce the notion of comonotone Pareto optima, and derive their characterizing conditions. With the aid of the auxiliary problem of price equilibria with transfers, we provide a sufficient condition in terms of the model primitives under which an Arrow–Debreu equilibrium exists, along with the explicit expression of the state‐price density in equilibrium. This new, general sufficient condition distinguishes the paper from previous related studies with homogeneous and/or convex probability weightings.     

一种基于SIR结构的三通带带通滤波器

应用双指耦合结构和枝节加载谐振器（Stub-loaded Resonator,SLR）实现了一款基于阶梯阻抗谐振器（Stepped Impedance Resonator,SIR）的滤波器。该滤波器具有3个通带,带外抑制较好,工作频段提高。通过调整阻抗比可调节第二、三通带的谐振频率;SLR结构能够增加通带数量;SLR结构和双指耦合结构均能改善滤波器的S参数。HFSS软件仿真表明,3个通带的中心频率分别为3.5 GHz、6.6 GHz、9.2 GHz,对应的分数带宽分别为5.7%、3%、2%,S11分别为-18 dB、-22 dB、-24 dB,通带内的S21分别为-1.8 dB、-1 dB、-1 dB。电路的测量结果与仿真结果较为吻合。该滤波器在5G通信的低频段具有应用前景。