市场化进程对地区工业经济发展的作用机理研究

本文采用1995-2003年中国大陆各省工业生产、市场消费和对外出口的有关数据，选择与非参数生产率指数测度方法结合的半对数线性Paneldata计量模型，研究了国内市场需求和国际市场需求对中国省际工业经济发展的影响，旨在揭示国内市场的一体化趋势和对外开放对区域经济差异化的作用机理。实证分析的结果表明，伴随国内市场一体化程度的提高，市场需求因素的拉动作用已呈现显著提高的态势，各地区工业经济的发展由分割的地方市场向一体化市场过渡，省际市场的贸易水平逐渐取代省内市场的贸易水平而成为了影响各地区工业经济发展的国内消费市场中的重要因素。     

股权二元结构下的股利政策--一种新的代理成本理论

本文基于股权二元结构建立了新的代理成本理论,发现并度量了分配现金股利的“再分配效应”——导致价值在流通股与非流通股之间转移,说明分配现金股利可能是大股东对流通股股东的掠夺行为。再分配效应揭示了股权二元结构的缺陷,有助于解释股利分配的一些实证现象,为现金股利的“利益输送”假说提供了理论基础。本文提出的配股一分红策略可以实现非流通股间接上市的目的。     

浅析建筑企业施工管理费费率的确定

建设工程工程量清单计价规范(GB50500-2008)已于2008-12-01正式实施,规范对清单模式下的投标抱价活动中相关术语做了相应界定,其中将标底正式更正为招标控制价。招标控制价的界定,为招投标活动的合理有效进行铺平了道路。对投标人来说,接踵而来的是投标报价让利问题。如果投标人对自己施工过的项目的管理费用没有具体的量化指标,在施工竟标中将处于劣势。本文站在投标人立场,讨论施工企业管理费率的合理确定问题。     

Understanding Business Improvement District formation: An analysis of neighborhoods and boundaries

Business Improvement Districts (BIDs) provide supplemental services to urban commercial corridors using funds from member assessments. They have become a very popular urban revitalization tool, but their formation is still largely unexplained. Theory implies that BIDs will form if they add to aggregate welfare and if the marginal net benefit of membership is positive. I test this for the neighborhood overall and at the BID boundary. Using unique, micro-level and longitudinal data from New York City, I employ survival analysis methods to estimate the likelihood of a neighborhood forming a BID. I then estimate the likelihood of the marginal property’s BID membership by comparing the characteristics of properties located immediately inside and outside of the BID boundaries. I find that BIDs are more likely to form when there is more commercial space over which the BID benefits can be capitalized and when there is homogeneity in service and spending preferences across properties. BIDs also tend to form in neighborhoods that possess signs of appreciation and growth. Generally, BIDs are more likely to form in neighborhoods with higher valued properties with the exception of very wealthy areas. The BID boundary, however, is comprised of relatively less valuable properties.     

Economies in Transition: How Important Is Trade Openness for Growth?*

We investigate the effect of trade openness on economic growth in transition countries using a transparent statistical methodology that leads to data‐driven case studies. In particular, we employ synthetic control methods in a panel of transition economies and compare GDP growth in treated (that is, open) countries with growth in a convex combination of similar but untreated (that is, closed) countries. We find that trade liberalization tends to have a positive effect on the pattern of real GDP per capita. One of our most robust results shows that making the transition without opening up to trade considerably hampers growth.     

基于4F理论对上海邮轮旅游业的营销策略

首先对上海邮轮旅游业近几年的发展现状进行了阐述,然后分析了上海邮轮旅游业现今发展中遇到的障碍,最后提出了针对上海邮轮旅游市场的4F营销策略,对改变传统邮轮消费观念、推广邮轮旅游做出了相应的分析与对策。     

基于C^2GS^2模型的甘肃民营企业科技投入产出实证分析

文章以甘肃省具有代表性的10家民营企业为研究对象,运用C^2GS^2模型,对其科技投入产出状况进行了实证分析。研究发现,甘肃省民营企业总体科技资源的投入配置没有达到最优化,应提升科技投入产出规模效益,提高科技投入产出效率,使企业形成具有核心竞争力的技术资产。     

企业竞争优势根源的理论演进

企业的竞争优势已成为战略管理领域的一个重要研究方向。半个世纪以来,探讨持续竞争优势的文献层出不穷。在众多战略管理文献中,对于企业如何获得竞争优势这一问题,学者们主要基于企业内部和外部两种视角进行研究,试图找到企业获取竞争优势的根源。本文拟对探讨企业竞争优势根源的各种理论观点进行较为系统的梳理,通过分析总结,指出这些理论观点所存在的局限性。最后,在已有研究的基础上,本文认为能力生命周期概念为获取企业竞争优势的根源提供了一个新的思路,并提出了企业竞争优势来源研究模型,以指导企业赢得竞争优势。     

The effect of banking market structure on the lending channel: Evidence from emerging markets

This paper analyses the extent to which the level of bank competition influences monetary policy transmission. Using a large panel dataset of 978 banks from 55 countries, and employing the Lerner index model as a measure of market structure, our results show that an increase in banking sector competition weakens the effectiveness of monetary policy on bank lending. The findings are robust to a broad array of sensitivity checks including control of alternative measurements of the Lerner index, different samples and different methodological specifications. By extension, these results have important policy implications for regulators in assessing the effectiveness of monetary policy transmission mechanisms.     

Sovereign ceilings “lite”? The impact of sovereign ratings on corporate ratings

Although credit rating agencies have gradually moved away from a policy of never rating a corporation above the sovereign (the ‘sovereign ceiling’), it appears that sovereign credit ratings remain a significant determinant of corporate credit ratings. We examine this link using data for advanced and emerging economies over the period of 1995–2009. Our main result is that a sovereign ceiling continues to affect the rating of corporations. The results also suggest that the influence of a sovereign ceiling on corporate ratings remains particularly significant in countries where capital account restrictions are still in place and with high political risk.