物权法中“私权保护”的新亮点及意义

物权法是国家的基本财产法，其最重要的任务就是界定及保护私权。2007年3月16日被高票表决通过的《中华人民共和国物权法》，是一部具有里程碑意义的法律。其冲破中国传统制度与观念，对公民私权保护提出许多切实可行的新制度。这些制度的设立对保护广大人民群众的根本利益。促进社会和谐有着重要意义。     

股权结构治理结构与审计师选聘--2002年深圳股市的实证检验

笔者等以2002年深圳股市的484家上市公司为样本，考察了大股东控制的公司审计师的选择行为，以及公司治理结构是否能够遏制大股东的偏好。结果发现，第一大股东持股比例越大，越不会聘请国际“四大”会计师事务所的境内合作所；但是，如果第一大股东是外资股，他们更可能聘请国际“四大”会计师事务所的境内合作所。     

论我国民营企业的核心权利及其确立的现实意义

民营企业享有生存权、产权、发展权和竞争权，四项权利构成民营企业权利体系的核心权利，承认并保护民营企业的核心权利具有极为重要的理论和实践意义。     

死者发表权与隐私权的冲突与保护

死者发表权的行使既要从公益出发、鼓励作品传播,又要以个性为落脚点保护作者合法权益。死者发表权的代行者出于个人利益往往会侵犯死者的隐私权。隐私权是人身权,是精神权利;发表权是著作权,有一定的物质利益,所以,发表权的行使应受到限制,在合理推定死者生前意图的基础上,最大限度地保护死者的隐私权。     

Forecasting recovery rates on non-performing loans with machine learning

We compare the performance of a wide set of regression techniques and machine-learning algorithms for predicting recovery rates on non-performing loans, using a private database from a European debt collection agency. We find that rule-based algorithms such as Cubist, boosted trees, and random forests perform significantly better than other approaches. In addition to loan contract specificities, predictors that refer to the bank recovery process — prior to the portfolio’s sale to a debt collector — are also shown to enhance forecasting performance. These variables, derived from the time series of contacts to defaulted clients and client reimbursements to the bank, help all algorithms better identify debtors with different repayment ability and/or commitment, and in general those with different recovery potential.     

Strategic freedom, constraint, and symmetry in one-period markets with cash and credit payment

Summary. In order to explain in a systematic way why certain combinations of market, financial, and legal structures may be intrinsic to certain capabilities to exchange real goods, we introduce criteria for abstracting the qualitative functions of markets. The criteria involve the number of strategic freedoms the combined institutions, considered as formalized strategic games, present to traders, the constraints they impose, and the symmetry with which those constraints are applied to the traders. We pay particular attention to what is required to make these strategic market games well-defined, and to make various solutions computable by the agents within the bounds on information and control they are assumed to have. As an application of these criteria, we present a complete taxonomy of the minimal one-period exchange economies with symmetric information and inside money. A natural hierarchy of market forms is observed to emerge, in which institutionally simpler markets are often found to be more suitable to fewer and less-diversified traders, while the institutionally richer markets only become functional as the size and diversity of their users gets large.Received: 5 June 2003, Revised: 18 November 2003, JEL Classification Numbers: C7, G10, G20, L10, D40, D50. Correspondence to: Eric SmithEric Smith, Martin Shubik: We are grateful to Lloyd Shapley, Duncan Foley, and Doyne Farmer for discussions in the course of this work.     

对禁止风景旅游区整体租赁的几点看法

在当前对风景旅游区的产权制度改革中,整体租赁模式运用广泛但争议颇大。本文运用产权理论和旅游相关理论,通过对风景名胜区整体租赁模式的分析,对建设部“禁止风景旅游区整体租赁”的规定提出了几点看法,希望能给我国风景旅游区的制度改革提供参考。     

股权结构与公司绩效实证研究的发现及其评价

对中国国有企业改革的研究,主要有“委托—代理”“、法定产权与事实产权不一致”“、产业定位与产权特性相对称”等三个理论框架。对股权结构与公司绩效的实证研究,为这三个理论框架的逻辑分析提供了有力的经验证据,也为深化国有企业改革提供了明确的、有益的指导。     

Structure,Clearinghouses and Symmetry

We introduce and justify a taxonomy for the structure of markets and minimal institutions which appear in constructing minimally complex trading structures to perform the functions of price formation, settlement and payments. Each structure is presented as a playable strategic market game and is examined for its efficiency, the number of degrees of freedom and the symmetry properties of the structure     

技术型跨国企业实施知识产权战略的动因探析

知识产权战略作为技术型跨国企业的重要竞争战略,企业在实施该战略时有其内在和外在的动因。分析知识产权战略与企业战略及其他职能战略的内在联系,揭示技术型跨国企业实施知识产权战略的内在动因;分析国际经济和贸易环境的变化、技术进步带来的影响,揭示技术型跨国企业实施知识产权战略的外在动因。