利率市场化能抑制企业投融资期限错配么?

以2001—2016年A股上市公司为研究样本,采用双重差分模型考察利率市场化对企业投融资期限错配的影响。研究发现:利率市场化能够抑制企业投融资期限错配,且融资约束发挥了中介作用。具体来说,贷款利率上限放开增加了企业长期贷款的可获得性,贷款利率下限放开则降低了企业的债务融资成本。进一步研究发现,利率市场化对企业投融资期限错配的抑制作用在小规模、高成长性的企业中更加显著。研究结论丰富了利率市场化的经济后果和企业投融资期限错配的影响因素类文献,对于推进我国金融体系深化改革具有一定的启示意义。     

光谱失配误差对光伏组件测试的影响研究

光伏组件测试中,太阳模拟器的光谱辐照度分布、光伏组件的光谱响应度、PN结温度等是影响测试结果的主要因素。本文从太阳模拟器光谱失配误差产生的原因出发,研究了光谱失配误差的理论处理方法,并使用脉冲模拟器对单晶硅、非晶硅光伏组件进行了实验分析,给出了减小或修正光谱失配误差对光伏组件测试结果影响的措施建议。     

How might the negative impact of higher education on growth be explained? The role of vertical qualification (mis)match in an MRW‐type model

This study explores the impact of higher education on growth in 11 new EU members over the period 2000–2016 using an augmented MRW‐type model which takes into account the quality of education and vertical mismatch. More precisely, it tests whether the accelerating increase of college graduates causes an oversupply of educated labour which, in turn, extends the qualification mismatch and adversely affects growth of per capita income. We find that an increase of the most educated labour force does not per se lead to a higher growth rate. The impact of human capital becomes positive and statistically significant only if graduates with occupations requiring tertiary education are considered in the model. In addition, the econometric outcome implies that the extent of skill mismatch is determined primarily by the rising female population with college education and the gross value added of trade‐related services.     

我国货币错配问题探讨

本文首先介绍了货币错配的概念,指出大规模的货币错配对一国金融体系的稳定性、货币政策的有效性和汇率政策的灵活性等方面会造成巨大的不利影响,甚至引发货币金融危机;然后,根据戈德斯坦和特纳提出的货币错配衡量指标对中国的货币错配现状进行了探讨,认为中国存在一定程度的货币错配,其风险表现为本币升值下净外汇资产净值的缩水;最后提出了相关的对策和建议。     

Are graduates’ intrapreneurial skills optimally used for innovation?

This paper studies the extent to which higher education graduates with higher intrapreneurial skills – creative, brokering, and championing skills – are more involved in innovation. Crucially, we differentiate between graduates employed in science, technology, engineering, and mathematics (STEM) occupations and those employed in business occupations. Using data on higher education graduates from 11 European countries, we find that, in both STEM and business occupations, high levels of creative skills are important to involvement in innovation. Higher levels of brokering skills are particularly important for graduates employed in STEM occupations, whereas higher levels of championing skills are particularly important for those in business occupations. We find, however, that the innovative potential of graduates with higher levels of intrapreneurial skills is not optimally utilized for innovation. Our study provides valuable insights for those selecting graduates for STEM and business occupations based on specific intrapreneurial skills to foster both product and process innovation, as well as for those in charge of designing higher education study curricula.     

员工—配偶工作家庭边界分割偏好匹配对员工工作投入的影响机制研究

依据个体—环境匹配理论和平衡理论,基于320份员工与配偶的配对问卷调查数据,采用多元回归分析、响应面分析以及块变量分析方法,探讨了员工—配偶工作家庭边界分割偏好不同匹配/不匹配类型对员工工作投入及情感平衡的影响。结果表明:员工—配偶工作家庭边界分割偏好匹配有利于提高员工的情感平衡和工作投入水平;而员工—配偶工作家庭边界分割偏好不匹配则会降低员工的情感平衡和工作投入水平。具体而言,当员工—配偶工作家庭边界分割偏好匹配时,员工边界分割偏好高—配偶边界分割偏好高对员工情感平衡和工作投入的正向影响更强;当员工—配偶工作家庭边界分割偏好不匹配时,员工边界分割偏好低—配偶边界分割偏好高对员工情感平衡和工作投入的负向影响更强。无论员工—配偶工作家庭边界分割偏好是否匹配,情感平衡均在其对员工工作投入的影响中起中介作用。     

要素资源错配、时空效应与技术创新——来自884家制造业上市公司的经验分析

本文以制造业上市公司为研究对象,建立动态空间面板模型,考察要素资源错配与技术创新的时空效应。研究发现:制造业技术创新表现出明显的路径依赖性和空间相关性;要素资源错配对技术创新呈现显著的正向区域内空间溢出,区域间空间溢出则不显著;要素资源错配对技术创新的时空效应呈现显著的地区和行业差异,时空效应在技术创新投入和产出方面也存在差别。鉴于此,应根据东、中、西部各自的实际,建立相应的资源聚集与技术创新模式;保持市场主体创新战略的平稳性,发挥制造业技术创新的循环累积效应;加大固定资产投资,发挥资本密集度和市场集中度对技术创新的促进作用。     

Do Skill Mismatches Create a Wage Penalty? Alternative Estimates for Korea*

In this paper, we estimate the wage penalty of skill mismatches among young Korean workers using propensity score matching (PSM) and ordinary least squares (OLS) methods. OLS estimates suggest that a moderate wage penalty results from skill mismatches: 3.8 percent for men and 5.6 percent for women. In contrast, PSM estimates suggest a weakly significant wage penalty for men and women only when kernel matching (KM) is used, but not when nearest neighbor matching(NNM) or radius matching (RM) techniques are used. These results contradict the findings of previous studies and suggest that there may not be a substantial wage penalty associated with skill mismatches.     

农地多功能供需错位与协同作用研究进展及趋势

研究目的:系统梳理国内外关于农地多功能供需错位与协同作用的研究文献,揭示其研究进展及未来研究趋势。研究方法:文献资料法,归纳演绎法,比较法。研究结果:现有研究进展主要表现为:(1)从单一生产功能的研究转向农地多功能研究,从间接研究农地多功能之间的关系转向直接研究农地多功能之间的关系,从研究农地多功能之间线性关系转向对多重性、非线性关系的探讨;(2)从孤立研究土地利用/变化特征、生态系统服务价值/农地非市场价值评估到关联性研究,如土地利用变化对农民福利的影响、土地利用与功能的关系以及特征—功能—服务—福利—价值链条关系探讨;(3)特别强调对农地多功能供给、需求(消费)、空间格局、动态变化、形成机制以及供需失配、权衡与协同分析。与国外研究相比,国内研究农地多功能价值评估较多,形成机制研究较少;农地多功能本身整体性的研究较多,功能之间的关系、权衡与协同研究较少;农地多功能供给研究较多,需求研究较少。国内外在该领域的研究趋势为:农地多功能供需双边匹配的研究,农地多功能的形成机制、多功能之间的相互关系、权衡与协同机制研究以及农地多功能尺度效应研究。研究结论:该研究成果对加强农地从物质资产到生态资产的完备性研究,实现中国农地多功能供需对接,寻求可持续的农业和农村发展,让\"农业更强、农民更富、农村更美\"具有重要的理论价值和实际意义。