论陈潭秋党建思想的主要贡献

陈潭秋是中国共产党的创始人之一,在他长期的革命生涯中形成了内容丰富的党建思想,其主要贡献在于他较早重视和关注党的自身建设,辩证认识和分析党的工作和中心任务的关系,并创建最早的农村基层党组织;在于他较早认识到农民阶级对于巩固和充实党的组织基层的重要意义,科学把握党的无产阶级性质;在于他较早研究运用阶级分析方法,形成较为系统的党内斗争思想。     

高职院校商务英语专业实训探讨——以武汉商业服务学院为例

商务英语专业实训对商务英语人才的培养起着决定性作用。本文通过分析我院商务英语专业实训工作尚存在的诸多问题,阐述了只有根据武汉地区的战略发展要求,确定有针对性的人才培养目标,秉承宽专业、活岗位的理念,多途径、全方位地开展校内实训,同时积极开发校外实训基地,我校商务英语专业的实训工作才能落到实处,在此基础上培养的商务英语人才才能真正为区域经济服务。     

上市保险公司资本结构偏好与优化:基于利益相关者理论的分析视角

基于利益相关者理论,本文分析了保险公司股东、保单持有人和保险行业监管机构等三个主要利益相关者对保险公司资本结构的偏好及其影响,在此基础上运用博弈论和股东收益率模型对利益相关者影响下的保险公司资本结构进行理论分析。研究结果表明:在利益相关者的影响作用下,保险公司采用较低的财务杠杆能更好地最大化各利益相关者的效用,优化公司资本结构。这一结论也得到了我国三家A股保险公司上市前后财务杠杆变化的经验数据支持。为此,本文提出降低保险公司财务杠杆、优化资本结构的政策建议。     

Financial Development,Interest Rate Liberalization,and Macroeconomic Volatility

This article examines the relationship between financial development, interest rate liberalization, and macroeconomic volatility in fifty-six emerging and developed economies over the period 1980–2009. We find that financial development plays a significant role in dampening the volatility of macroeconomic growth rate, but up to a limit. The more the interest rate is liberalized, the more likely that financial development can stabilize the economy. Particularly, interest rate liberalization has a more positive influence on emerging and developing countries. Financial development and interest rate liberalization can also alleviate the influence of external shocks. They mutually enhance their functions as economic stabilizers.     

风险条件下商业银行高管的激励机制

商业银行高管与股东之间存在着委托-代理关系。由于信息不对称,银行高管和股东对于风险水平的估计存在差异,而风险估计直接影响着银行高管的努力水平和激励水平。本文基于双方的风险估计,构建了风险条件下银行高管的委托-代理模型。并依据模型的结果,对风险条件下银行高管的薪酬激励机制进行分析,并提出了优化商业银行高管激励机制的措施。     

What constrains firms from divesting their legacy business?

This study focuses on a unique business phenomenon, legacy divestitures, which refers to the sale or spinoff of a firm's original business. I argue that firms may be prevented from engaging in legacy divestiture by organizational inertia, which become increasingly stronger as the legacy business gets older. I also examine factors that help firms overcome the constraints of inertial forces on firms' legacy divestitures. Hypotheses are tested using a sample of 108 diversified American companies, 27 of which divested legacy businesses between 1980 and 2017. Firms are less likely to divest their legacy businesses as the legacy units get older. The negative relationship is weakened by two factors, performance–aspiration gaps and R&D intensity.     

Sense of belonging,international migrants’ spending,and implications for their subjective well-being

A lack of a sense of belonging in the host country has become one of the most common challenges facing international migrants in today's sociopolitical environment. Our two online experiments with 881 international migrant workers in the United States jointly demonstrate that, to cope with their lack of a sense of belonging in the host country, international migrants may spend money suboptimally: more on material purchases but less on experiential and prosocial purchases. More importantly, our studies suggest that prosocial purchases are more effective than experiential purchases in increasing international migrants’ subjective well-being. This is because prosocial purchases can lead to both relatedness need satisfaction and beneficence, with each independently contributing to international migrants’ subjective well-being. Our research suggests that public policymakers should address the social exclusion international migrants experience when moving to a new country because it can have a negative impact on their subjective well-being. Our research further suggests that one way to mitigate social exclusion is to encourage international migrants to spend money on others rather than themselves.     

Does it matter where you invest? The impact of foreign direct investments on domestic job creation and destruction

This study examines how foreign direct investment (FDI) affects domestic employment by using unique division-level data of Japanese firms. Contrary to most previous studies focusing on the effect of FDI on net employment growth, we decompose it into job creation (JC) and job destruction (JD) for each individual firm. We find that FDI destination plays an important role: FDI to Asia increases JC, whereas FDI to Europe/North America decreases it; furthermore JD decreases, regardless of FDI destination. A frictional search-and-matching model with heterogeneous jobs can explain the differential effects. The model provides additional predictions on JC and JD by job type, which are also empirically confirmed.     

Asymptotic subadditivity/superadditivity of Value-at-Risk under tail dependence

This paper presents a new method for discussing the asymptotic subadditivity/superadditivity of Value-at-Risk (VaR) for multiple risks. We consider the asymptotic subadditivity and superadditivity properties of VaR for multiple risks whose copula admits a stable tail dependence function (STDF). For the purpose, a marginal region is defined by the marginal distributions of the multiple risks, and a stochastic order named tail concave order is presented for comparing individual tail risks. We prove that asymptotic subadditivity of VaR holds when individual risks are smaller than regularly varying (RV) random variables with index −1 under the tail concave order. We also provide sufficient conditions for VaR being asymptotically superadditive. For two multiple risks sharing the same copula function and satisfying the tail concave order, a comparison result on the asymptotic subadditivity/superadditivity of VaR is given. Asymptotic diversification ratios for RV and log regularly varying (LRV) margins with specific copula structures are obtained. Empirical analysis on financial data is provided for highlighting our results.     

高绩效工作系统、工作倦怠对员工离职倾向的影响研究

本文基于员工感知的视角,以工作倦怠作为中介变量,探索员工感知的高绩效工作系统对离职倾向的影响机制。通过来自企业256 个有效样本的实证研究发现,员工感知的高绩效工作系统与离职倾向显著负相关;工作倦怠及其子维度情感耗竭、玩世不恭与离职倾向显著正相关,而子维度成就感低落与离职倾向相关性不显著;工作倦怠在员工感知的高绩效工作系统与离职倾向之间起部分中介作用;员工感知的高绩效工作系统可通过影响员工的情感耗竭、玩世不恭情绪,间接对离职倾向产生影响,而成就感低落的中介效应不显著。