Liquidity and market makers: a pseudo-experimental analysis with ultrahigh frequency data

An analysis is given of the effect of market makers on liquidity using a transaction-level database. For this purpose, the focus is on a financial market where a change in regulations created explicitly the category of market maker in 1997 and that date is used to construct a pseudo-experiment. In contrast with other studies that use ultrahigh frequency data, the days to be analysed are selected using a statistical procedure to match observations before and after the change in regulation. The propensity score is used to perform the matching. After choosing the days, an estimate of an ordered probit model is made to explain the intraday behaviour of price changes. The coefficient estimates from the ordered probit model are used to calculate a measure of liquidity based on the steepness of the response function of price changes to volume. The results show that liquidity, measured in this way, has not been affected by the introduction of the market makers.     

Nationality,social network and psychological well-being: expatriates in China

Expatriate social networks constitute an under-emphasized area in expatriate literature. The current study contributes to the expatriate adjustment literature by empirically testing the relationship between expatriate personal networks and psychological well-being. The current study also investigates the hypothesis that expatriates from different cultural backgrounds will establish different social networks and adjust differently in China. A survey of 166 expatriates in China from North America, Europe and other countries in Asia showed significant support for the hypothesis that expatriate network characteristics have a direct and significant influence on expatriate psychological well-being. In addition, as predicted, expatriates in China from different cultural backgrounds (Overseas Chinese, other Asian, North American and European) established personal networks with different characteristics.     

浅谈房屋权属登记薄的填制和对外利用规则

就本人在理论和实际工作中对自治区房屋权属登记簿的填制和对外利用规则谈谈个人的粗浅认识。     

财政学中的国家观:分歧与比较——对当前财政基础理论的一点反思

当前的公共财政体系理应具备公共性,是毋庸置疑的。但学界却在如何理解财政的公共性问题上莫衷一是,通过分析和比较之后可以发现,不同观点的分歧与其背后的国家观有着某种必然的联系,而且貌似冲突和抵牾的国家观,其实代表了不同层次的理论抽象。一方面,我们需要根据被研究的问题进行取舍;另一方面,整个财政学理论体系不应该也不可能只建立在某一特定层次的国家观之上。而公共性之所以是财政与生俱来的本质属性,是因为国家作为一个行动主体的行为目标和模式使然,所以当我们从理论层面把握公共性的概念和实质之时,不能只局限于市场经济国家,需要放宽研究视野,至少必须正视中国以往的历史经验和基本规律。     

根据企业用人标准提升技校学生的就业能力

技工教育是一种以市场需求为导向、以学生就业为目标的职业教育。技校学生的就业能力是企业在用人方面考察的重点。文章认为,分析现代企业选录用人标准的侧重点,借鉴知名企业培训经验,注重培养技校学生的职业道德素养,加强校企合作,探索技工教育的新思路,以准企业化管理模式开展教育培训工作,能有效提升学生的就业能力。     

关于领导干部学习问题的思考

党的十七届六中全会指出:当今世界正处在大发展、大变革、大调整时期,文化在综合国力竞争中的地位和作用更加凸显。在我国进入全面建设小康社会、改革开放不断深化、经济发展方式转变加快的关键和攻坚阶段,推进文化的大发展、大繁荣已经成为当前我国一个重要而艰巨的任务。领导干部通过学习不断提升文化水平和能力显得极其重要。文章针对与领导干部学习相关的问题展开深入思考,提出了端正学习态度,深入学习,强调技巧,注重效果等管见。     

2010-2011年陕西省医院业务收入影响因素分析

目的:研究医院业务收入的影响因素。方法:对2010-2011年陕西省医院门诊、住院收入变动建立因素指数体系,应用多因素分析法分析医院业务收入。结果:2011年较2010年,陕西省医院业务收入增长快速,以出院人次增加为主,其次是住院日均费用的增加,门诊人均费用增长再次之。结论:整体陕西省医院体系构建较好,经营良好,应进一步缩短平均住院日和降低药占比。     

The impact of minimum wages on employment of low‐wage workers

This study provides empirical evidence on the impact of a minimum wage increase on employment of workers in the formal sector who have wages below the minimum level in Vietnam. Using the difference‐in‐differences with propensity score matching and the Vietnam Household Living Standard Surveys of 2004 and 2006, the article finds that the minimum wage increase in 2005 reduced the proportion of workers having a formal sector job among low‐wage workers. Most workers who lost formal sector jobs became self‐employed.     

非货币性资产交换的税会差异及分析

非货币性资产交换按会计处理原则不同可分为具有商业实质的交换和不具有商业实质的交换。具有商业实质的交挟在税会处理上没有根本性差异，而不具有商业实质的交换在税会处理上存在根本性差异。税会处理差异的原因在于会计和税法的立法立场不同，而且这一差异不可协调。这种差异可以有效防止关联方企业利用非货币性交换调节利润。     

检察机关参加行政诉讼制度之构建

提起公诉和参加诉讼是检察机关介入行政诉讼的两种主要方式。本文阐述了检察机关参加行政诉讼制度之实质并在案件范围、司法程序等方面系统构建了检察机关参加行政诉讼制度。