论强制性环境治理制度的实施效率

In the eco-environmental governance system,the compul-sive institutions are the most important as well as the mostcommonly utilized.A nation utilizes its administrative,lawand economic power to forbid,boost,bestir and help indi-viduals’behavior concerning environmental governance toensure the realization of eco-environment conservation.The fact,however,turns out to be disappointing about theimpulsive institution’s implementation.Actually,the unsatis-factory practices sometimes even lead to“…     

国有企业、金融市场改革与养老保险制度改革的互动效应--中国如何解决老年保障问题?

中国政府非常清楚社会保障所面临的危机，决定寻求解决办法。拟议中的社会保障改革的核心是积累制和整合条块分割的体系，计划为每个工人建立个人退休账户，对养老基金进行有效投资。然而，这种改革受阻于三个关键因素。(1)在向积累制的转化过程中必须支付特制成本；(2)现有的社会保障体系条块分割、分散化管理3(3)已经积累的基金尚未取得高收益，也未分配到最有效率的用途上。     

浅析现阶段我国收入分配中的公平问题

现阶段,我国收入差距不断拉大,收入分配不公平的问题已经凸现,严重影响了社会主义和谐社会的发展.要解决收入分配存在的问题,必须正确理解公平原则,切实有效地采取措施调节收入分配,在分配领域特别是在再分配领域中更加注重公平,逐步实现公平与效率有机的、动态的结合,促进社会的和谐发展.     

Public policies as specification errors

Treating public policies as computable dynamic general equilibrium model specification errors offers computational and conceptional advantages for comparing models with data. The set of policies calculated to rationalize observed behaviors raises the substantive economic question whether, in any particular market, actual public policies sufficiently coincide with the model's behavior-rationalizing policies, or whether the model offers correct hypotheses about the determinants of demand and supply. As illustrations, public policies are calculated to rationalize, with respect to the stochastic neoclassical growth model, capital market behavior since WWII and labor market behavior in 1929–1950. One conclusion is that capital taxation drives a wedge between consumption growth and the expected pre-tax capital return, in the direction and amount predicted by the theory, and that capital taxation is the major intertemporal distortion in the postwar capital market. Second, a good theory of the Great Depression labor market must explain why measured MRS and MPL diverged so dramatically in 1929–1933 and why the wedge persisted.     

投资选择权约束、意见分歧与中国股市风险

特定的股票总是被市场上特定的投资者群体持有 ,以反映该投资者群体对投资资产价格的评估意见。投资者意见的分歧会导致股票市场的资产出清价格偏离均值 ,股票价格趋于均衡的波动幅度也会变大。中国股市上投资者投资选择权的约束加大了投资者的意见分歧。扩大投资者的投资选择权来促进投资者意见分歧程度的缩小能有效降低中国股市的风险。     

2002～2005年间我国不同地区高校科技创新效率比较研究

利用SPSS13.0对2002～2005年间我国各省、市、自治区高校科技创新活动进行了聚类分析,并采用DEA的CCR模型对这4年中我国各省、市、自治区高校科技创新过程中经费支出,以及人员投入的效率问题进行了比较研究,结果发现有24个地区DEA有效,6个地区非DEA有效。最后给出了非DEA有效地区的改进方向。     

深圳股市对股权分置改革有何反应——来自第二批试点公司的实证检验

本文以深圳股市第二批试点公司为研究样本，通过赢家、输家股票组合超常日收益率的统计分析。以及累积超常日收益率的趋势分析，研究深圳股市对股权分置改革的短期反应。实证检验结果表明。在短期内，深圳股市存在过度反应。并且在公司股改预案披露后30个左右交易日，市场做出反向修正．     

会计价值机制论

本文认为,市场和企业是组织经济活动的形式,也是组织价值信息传递和价值激励的系统。市场价格机制是在长期市场供求关系作用下而形成的,而会计价值机制是随着企业的发展不断演化,在企业目标引导下组织价值信息传递和价值信息激励,以促成企业目标实现。企业替代市场或取得竞争优势,都是基于相同的原因和两种机制作用的结果,即是通过企业提供的产品或服务的成本低于市场价格而实现的。     

Order imbalance and stock returns: Evidence from China

We investigate the relation between daily order imbalance and return in the Chinese stock markets of Shenzhen and Shanghai. Prior studies have found that daily order imbalance is predictive of subsequent returns. On the two Chinese exchanges we find the autocorrelation in order imbalances is similar to that of the New York Stock Exchange as reported by Chordia and Subrahmanyam [Chordia, T., & Subrahmanyam, A. (2004). Order imbalance and individual stock returns: Theory and evidence. Journal of Financial Economics, 72, 485–518]. We also find a strong contemporaneous relation between daily order imbalances and returns. However, we do not find evidence that order imbalances predict subsequent returns. We attribute the difference in predicative power to differences in trading mechanisms on the two exchanges and to differences in the share turnover rates.     

A Stochastic Frontier Production Function with Flexible Risk Properties

This paper considers a stochastic frontier production function which has additive, heteroscedastic error structure. The model allows for negative or positive marginal production risks of inputs, as originally proposed by Just and Pope (1978). The technical efficiencies of individual firms in the sample are a function of the levels of the input variables in the stochastic frontier, in addition to the technical inefficiency effects. These are two features of the model which are not exhibited by the commonly used stochastic frontiers with multiplicative error structures.An empirical application is presented using cross-sectional data on Ethiopian peasant farmers. The null hypothesis of no technical inefficiencies of production among these farmers is accepted. Further, the flexible risk models do not fit the data on peasant farmers as well as the traditional stochastic frontier model with multiplicative error structure.