地方税收效率及公平性实证研究

在现行经济及税收制度下,增值税和行为税收入比重提升会提高资本要素的产出效率;营业税和企业所得税比重的增加在提高资本要素产出效率的同时,却会降低劳动要素的产出效率;个人所得税和财产税比重提高有助于提升劳动要素的产出效率,而后者同时会降低资本产出效率;资源税类收入比重提高将会降低资本要素产出效率;流转税、所得税、行为税和财产税占税收收入比重的增加都会引起经济的总体产出的减少;我国地方税收收入具有显著的公平效应,其中所得税和财产税的公平效应相对更强,资源税及增值税也具有明显的公平收入分配的作用。     

“偏离”与“调适”：增强地方人大履职效能的思考

经过50多年的发展,地方各级人大在制度建设方面取得了一系列显著成就。然而,受法制完备程度和主客观条件的制约,地方人大履职过程中客观上存在一定程度的“偏离”法律的现象。在实践中,地方人大及其常委会的“法定”职权与“实际”职权之间仍然存在很大差距。从经济、政治、文化三雏视野下分析地方人大制度运行产生偏离情况的原因,为地方人大在“偏离”与“适度”间寻找合适的权力运行空间,明确重点工作,“有所为有所不为”,逐步规范“党委动议、人大决策、政府执行”的权力运行机制,适当改革地方人大的选人用人机制,无疑有助于增强地方人大及其常委会的履职效能。     

混合边界条件下一致抛物型方程解的整体存在

为了发展一致抛物型方程解的整体存在和爆破理论,本文考虑了非线性抛物型方程在混合边界条件下解的整体存在。该模型源于自然界中广泛存在的扩散现象,以往的方法很难对它进行较详细的描述。本文以非线性抛物型方程解的泛涵的极大值原理为主要工具,结合比较原理、上下解方法和微分、积分不等式技巧,讨论了该类问题解的整体存在的条件。     

基于不同保护目的的最优关税分析

从不同的保护目的出发,可将最优关税区分为最佳福利关税和最大收入关税。假定一个国家自身生产一种产品,同时进口另外一种产品,且两种产品的质量不同,分析最佳福利关税和最大收入关税问题,结果发现：第一,如果本国的产品质量较低而进口的产品质量较高,那么,无论企业之间是进行Bertrand竞争还是Cournot竞争,假如国外企业的效率较高（低）,那么最大收入关税大（小）于最佳福利关税;此外,Cournot竞争条件下的最佳福利关税和最大收入关税分别高于Bertrand竞争条件下的最佳福利关税和最大收入关税。第二,如果本国的产品质量较高而进口的产品质量较低,那么当本国企业的效率较低（高）时,最大收入关税高（低）于最佳福利关税。     

商业FDI对本土制造业:溢出还是挤出——基于中国省级面板数据的实证研究

本文利用我国29个省市2003-2008年的面板数据,实证研究了商业FDI对我国本土制造业的影响。在对外资商业影响本土制造业的路径进行理论分析的基础上,构建了两类指标反映外资商业的不同影响渠道,并按地区类别进行分组检验,考察了本土企业的吸收能力和内资企业的技术差距对溢出效果的影响。结果表明,外资商业对我国本土制造业的影响具有明显的地区差异,通过对本土商业企业的竞争示范效应促进了东、中部地区制造业的发展,对西部地区当地制造业发展的影响则主要是通过人员流动效应实现的;实证结果还表明,企业的吸收能力越强,技术差距越小,越有利于外资商业正向作用的发挥。     

Measuring audit quality of local governments in England and Wales

The purpose of this paper is to model and test the audit quality provided to local governments in England and Wales. A key question is: are there major differences in audit quality provided? The Audit Commission, a national public body under Parliament, regulates the audits. It sets audit standards, appoints the auditors, and (although each auditor and client local government set the specific audit fee for that client) it establishes a formula to determine standard audit fees. The Audit Commission also conducts an annual review of the audit quality provided by the selected auditors, as well as a survey of client satisfaction. The majority of audits are conducted by District Auditors (public sector employees of the Audit Commission). About a quarter of local governments are audited by one of six private sector auditors (including three of the Big 4). Actual results indicate that audit quality differences are associated with the number of governmental audit clients and local government type. Generally, there were modest quality differences by auditor category.     

经典波动模型下的最优债券投资组合

文章认为,由于利率和股价兼有相同的趋势性和波动性属性,股价经典波动模型对利率建模具有研究价值。通过引入经典的波动模型,结合极大似然估计的方法,本文探讨了无风险债券的最优投资方案,并将该成果运用于全球主要国债市场进行实证模拟投资,结果表明,该模型在全球主要国债市场均能取得较好的超额收益。     

Mergers and acquisitions in the global food processing industry in 1986–2006

Food systems around the world experienced increased merger and acquisition (M&A) activity over the past decades. Based on a sample of 13,911M&A attempts worldwide during 1986–2006, this study provides an analysis of major determinants of M&A completion in the food processing industry. Friendly attitude, cash payment and experience with M&As emerge as strong deal facilitators. Bidding competition, pursuit of parallel transactions, target subsidiary status and acquirer public status are the most important deal breakers. Unlike the lenient antitrust approach of the Reagan administration, the 1998 UK Competition Act and various directives and regulations on food safety and quality associated with the completion of the internal European market in 1992 facilitated M&A completion. In contrast, the beginning of the Economic and Monetary Union, as marked by the introduction of the Euro in 1999, had a strong negative effect on completion likelihood. This study identifies substantial regional differences. Completion of M&As that involve Asian firms depends on distinct factors. Results for NAFTA are mostly in line with predictions derived from general economic theory, compared to other regions.     

Technological disequilibrium. Price indexes in hubs for Local Area Networks

Evidence is provided on the relationship between changes in product characteristics and product prices by constructing constant quality price indexes for hubs, a category of equipment for Local Area Networks (LANs). Relying on a database of more than 500 hubs marketed between 1990 and 1999 estimations of pooled hedonic regression are carried out and then ‘augmented’ by interacting some characteristics. Results show a general decline of constant-quality price in the period analysed with distinct patterns between the first and the second half of the decade. In particular, evidence of ‘technologically induced’ disequilibrium in the first half of the decade is found. Equilibrium prevailed instead in the second half. Also, results show that both the extent of technological improvements and the extent of economic benefits from technological improvements have been unevenly distributed across technological characteristics.     

Estimation strategies for the regression coefficient parameter matrix in multivariate multiple regression

We consider improved estimation strategies for the parameter matrix in multivariate multiple regression under a general and natural linear constraint. In the context of two competing models where one model includes all predictors and the other restricts variable coefficients to a candidate linear subspace based on prior information, there is a need of combining two estimation techniques in an optimal way. In this scenario, we suggest some shrinkage estimators for the targeted parameter matrix. Also, we examine the relative performances of the suggested estimators in the direction of the subspace and candidate subspace restricted type estimators. We develop a large sample theory for the estimators including derivation of asymptotic bias and asymptotic distributional risk of the suggested estimators. Furthermore, we conduct Monte Carlo simulation studies to appraise the relative performance of the suggested estimators with the classical estimators. The methods are also applied on a real data set for illustrative purposes.