房地产市场价格博弈分析

我国房地产业发展迅速,房地产市场的发展对促进国民经济发展做出了突出贡献,房地产业已成为我国重要支柱产业之一.我国房地产市场现状是博弈得出结果的一个竞技场.文章从房地产销售过程中主要参与者的价格博弈分析,探究房地产市场交易价格形成的过程,指出中国房地产业的现状是由社会几股力量反复博弈的结果,其实质是不同社会力量之间的利益之争.     

企业财务管理目标的合理选择——企业价值最大化

财务管理目标是企业在特定的理财环境中通过组织财务活动和综合处理财务关系所要达到的根本目的.本文在分析我国目前关于财务管理目标的观点的基础上论述了企业价值最大化是财务管理目标的合理选择.     

产品内分工视角下中美贸易失衡中的贸易利益研究

中美双边贸易中中方的巨额贸易顺差是否使中方获得了同样的贸易利益,一直是中美两国争论的焦点问题之一。本文在产品内分工框架内,构建了双边贸易利益分配的理论模型,使用面板协整对1997-2009年中美双边8个主要制造业部门的贸易利得进行实证分析。结果表明,美国依靠比较优势和垄断优势占据了产品价值链两端高附加值环节,而中国承担低附加值的中间环节;中美贸易失衡背后的利益流向并没有与贸易差额一致,中国在中美产品内贸易中获利微薄。因此,我国应该努力提升产业结构,提高自主创新能力,力求锁定在附加值高的环节,以赢得更多的国际贸易利益。     

基于模糊模型识别的石碑坪镇土地整理社会生态效益评价

研究目的：建立土地整理社会生态效益评价指标体系,量化各指标并对其评价方法进行研究。研究方法：文献资料法、模糊模型识别法、定性与定量相结合。研究结果：（1）构建评价体系指标,其中大多数指标能够准确量化;（2）基于定性与定量的模糊模型识别方法对社会生态效益做出了整体的科学判断。研究结论：该案例的社会效益属于A3类（非常显著）、生态效益属于B2类（比较显著）。因此,模糊模型识别方法在土地整理社会生态效益评价中具有广阔的应用前景。     

风险投资中控制权分配及其影响因素的研究

在风险投资中,创业者和风险投资家由于目标不同而存在着利益冲突,这时对风险企业的控制权进行适当分配成为关键.由于风险投资中有关控制权问题的复杂性,国内外对这方面的研究目前还较少,尚处于起步阶段.文章以不完全合同作为理论基础通过建立两期模型分析了影响风险企业中控制权配置的重要因素,从而在统一的不完全合同理论的框架下对风险企业的控制权、现金流量权、声誉机制等各种影响因素展开系统的研究.     

Severance Pay and Corporate Finance: Empirical Evidence from a Panel of Austrian and Italian Firms

This paper examines the empirical link between severance pay and corporate finance. Severance pay is an economic debt of the employer and hence should be taken into account by the market in its assessments of risk. Using a hand-collected dataset of accounting data from Italy and Austria we find there is only a limited relationship between severance pay and market risk indicators. This suggests that arguments that severance pay systems destroy corporate value may need to be reassessed.     

中国农村信用合作社经营绩效的实证分析

中国农村信用合作社的发展规模比较小；其经营特征呈现出资产结构异化，股金规模偏低，存贷款剪刀差的特征；其经营效率呈现出高成本、低收益的形势；其资金主要来源于成本较高的定期储蓄存款；经营结果表现为资产质量低，不良资产比例高，经营亏损严重。因此，中国农村信用合作社的改革迫在眉睫。其改革必须从内部和外部两方面入手，在内部应着力组建真正的信用合作组织，在外部应重点构建合理的制度框架。     

生态文明建设下风、光发电生态效益模拟与评估——以甘肃省为例

在我国生态文明建设日益受到重视的背景下,文章对风、光发电的生态影响进行了整体、全面的研究。首先,构建了分析风电和光伏发电对生态系统影响的系统动力学(system dynamics,SD)模型,并提出一种改进的耦合协调度模型;然后,以甘肃省为例进行SD情景模拟;最后,评估了多政策情景下甘肃省生态系统耦合协调度。结果表明,风电技改增效和光伏发电技改增效更有利于整个生态系统的发展。通过理论分析论证了甘肃省现行风、光发电政策的科学性,并为进一步发展风、光发电从而促进生态文明建设提出建议。     

Erosion mitigation in the Waikato District,New Zealand: economic implications for agriculture

Soil erosion, in its various forms, is caused or aggravated by agricultural activities. Mitigation of surface erosion comprises the construction of shelterbelts, fencing, riparian buffering, and stock reduction. Mitigation of mass‐movement erosion, in turn, takes the form of spaced planting of trees to maintain a persistent, healthy, and complete ground cover. In this article, we assess the economic implications to agriculture of the adoption of mitigation alternatives for erosion control in the Waikato District, New Zealand. The Waikato District presents a spatial pattern of erosion that affects profitability of dairy, and sheep and beef enterprises. We use the Universal Soil Loss Equation and the New Zealand Empirical Erosion Model to estimate erosion figures that are then fed into an economic‐focused, nonlinear, partial equilibrium mathematical programming model of New Zealand land use. Different scenarios are constructed for surface and mass‐movement soil erosion targets ranging from 0% to 50% below baseline levels. We find that achieving surface erosion targets is more expensive than mass‐movement targets, and results in different responses in regional‐level costs, land use, enterprise net revenue, and adoption of mitigation alternatives.     

Integrating local ecological services into intergovernmental fiscal transfers: The case of the ecological ICMS in Brazil

Local conservation efforts are often related to benefits at higher governmental levels. On the one hand, these efforts are strongly connected to local land-use decisions. On the other hand, activities such as sustainable water management or biodiversity conservation are associated with regional, national or even global public goods. Therefore, spatial externalities or spillovers exist, which—if not adequately compensated for—lead to an underprovision of the public goods and services concerned. This article investigates intergovernmental fiscal transfers as an innovative instrument for compensating local jurisdictions for the ecological goods and services they provide across local boundaries. From a public finance perspective, fiscal transfers are a suitable instrument for internalising spatial externalities. However, most federal states use this instrument predominantly for social and economic public sector functions rather than for ecological ones. This article investigates the case of the ecological “ICMS” that was first introduced by a few states in Brazil during the 1990s. Part of the revenue from this value-added tax is redistributed to the local level on the basis of ecological indicators. In this way, the state level uses fiscal transfers to compensate municipalities for the existence of protected areas and other ecological services provided within their territories. The Brazilian experience illustrates that such fiscal transfers can represent both a compensation for land-use restrictions and an incentive to value and engage in more conservation activities at the local level.