Is There a Glass Ceiling over Germany?

This paper analyzes the gender wage gap across the wage distribution using 2010 data from the German Statistical Agency. I investigate East and West Germany and the public sector separately to account for potential heterogeneities in wage gaps. I apply unconditional and conditional quantile regression methods to investigate the differences between highly paid men and women in distributions conditional and unconditional on covariates. The results indicate increasing gender wage gaps in all estimations, suggesting that there is indeed a glass ceiling over Germany even after controlling for a large set of observable characteristics (including occupation and industry). This finding is even more pronounced when also taking bonus payments into account.     

我国社会保障财政风险分析与防控研究

社会保障制度是社会的“稳定器”和“安全网”,对于维护社会稳定和建设和谐社会十分重要。随着我国社会保障体系建设的不断推进,社会保障的收支矛盾逐步显现,而政府是这一矛盾的最终“买单者”,由此加重了财政负担,引发了财政风险。因而应通过开辟多元化筹资渠道、加强社保资金财政管理、规范基金的投资管理等举措降低风险,进而减轻财政压力。     

城市公共设施供给中的融资创新——一种基于政府付费或补贴的资产证券化方式

城市政府当期财政难以满足未来城市建设中的公共设施需求,城市发展需要公共融资创新."私人生产、政府付费或补贴、公众消费"模式是城市公共设施融资中一种吸引私人投资的较好模式.在该模式基础上,提出了一种基于政府付费或补贴的资产证券化创新方式,阐述了该方式的运用范围、基本结构和运作流程,并分析了该方式在城市建设中运用的基本条件.     

企业CEO继任的经验研究与展望

CEO继任是企业的重要战略决策之一.国外研究结果显示,CEO继任的发生机制主要存在辞职、解聘和其他突发情况;而继任绩效效果的研究结果却大相径庭,继任后的企业绩效形成机制多与继任者的行动、能力和社会力量相关;新任CEO继任后的过渡管理也具有一些很重要的技巧.当前,中国很多大型企业面临高层管理人员计划性或非计划性更新,借鉴和把握西方国家CEO继任的经验和趋势.可以提高我国CEO继任的成功率和有效性.     

基于改进BP神经网络的胜任力薪酬模式研究

为了减少基于胜任力模型的薪酬制度在实际操作中由于主观因素造成的偏差,拟运用BP神经网络进行映射计算的方法建立转化模型,更准确的实现胜任力与薪酬的挂钩。系统稳定建立后,可将员工的胜任力评价作为输入,直接计算得到薪酬水平,从而节省了胜任力定价和建立胜任力薪酬结构的人力财力成本,不仅可以减少主观成分和人为因素,可使得评价结果更加的真实、有效。     

Eliciting Willingness to Pay without Bias using Follow-up Certainty Statements: Comparisons between Probably/Definitely and a 10-point Certainty Scale

Correction for hypothetical bias using follow up certainty questions often takes one of two forms: (1) two options, “definitely sure” and “probably sure”, or (2) a 10-point scale with 10 very certain. While both have been successful in eliminating hypothetical bias from estimates of WTP by calibrating based on the certainty of yes responses, little is known about the relationship between the two. The purpose of this paper is to compare the two using data from three field experiments in a private good, dichotomous choice format. We compare four types of yes responses that differ in the criterion used to determine if there is sufficient certainty for a hypothetical yes response to be considered a true yes response. We make several comparisons, but focus on determining which values on the 10-point scale give the same estimates of WTP as “definitely sure” hypothetical yeses and real yeses (actual purchases). Values that produce equivalence are near 10 on the certainty scale.     

CEO权力、独立董事和资本支出决策

公司治理机制的效率不仅体现在公司价值的提升上,更应该体现在各类代理成本比如不必要资本支出的削减上。选取2007～2009年97家房地产上市公司为样本,以企业资本支出水平为切入点,分析独立董事和CEO权力对资本支出决策的影响。研究发现:(1)高管层权力越大,越倾向于加大资本支出,任职时间长和两职合一的高管层更是如此;(2)财务专家型独立董事比例的提高能够有效抑制高管层滥用权力增加的资本支出;(3)通过对不同股权性质企业分析,国有企业中财务专家型独立董事对抑制资本支出水平的有效性显著强于非国有企业。     

CEO的金融背景会提高企业全要素生产率吗?

作为最重要的人力资源之一,CEO的个人特点对企业全要素生产率具有重要影响。我们采用2008-2017年间全部A股上市公司作研究样本,结果发现：金融背景的CEO具有更冒险的行事风格,更熟悉金融领域操作规范,能够帮助企业提高创新水平和投资效率,从而提高企业全要素生产率,并且在采用DID控制内生性后依然显著。进一步地,CEO的这种影响在更能够发挥CEO个人影响力的低盈利企业和非“北上广深”地区企业更显著。本文的结论佐证了“高层梯队理论”和“烙印理论”中CEO个人特点能够对企业生产经营产生影响的结论,同时,为今后企业是否聘任金融背景的CEO提供新的思考,金融背景的CEO虽然具有更冒险的行事风格,为企业带了一定风险,但也能够在提高企业生产率水平中发挥一定作用。     

When do high‐level managers believe they can influence the stock price? Antecedents of stock price expectancy cognitions

Stock based rewards are often used to motivate high‐level managers to take actions to increase the stock price of the firm. However, numerous constraints may weaken the perceived link between individual effort and stock price appreciation for many recipients. This study introduces a new construct, stock price expectancy, which we define as individuals' perceptions of influence over their firm's stock price. We examined its antecedents in a sample of 349 high‐level U.S. managers and found that employment at corporate headquarters, firm size, hierarchical level, and contact with investment analysts predicted stock price expectancy perceptions. © 2010 Wiley Periodicals, Inc.     

谈招标投标活动应注意的几个关键问题

我国《招标投标法》颁布施行已有10年,促使项目法人责任制、招标投标制和合同管理制日臻成熟,进入稳步发展阶段,加快了我国经济的市场化进程。但是,这项法规在我国尚属新生事物,对此,文章就招标投标活动应该注意的几个关键性问题,提出自己的见解。