Increasing returns to savings and wealth inequality

In this paper I present an explanation to the fact that in the data wealth is substantially more concentrated than income. Starting from the observation that the composition of households' portfolios changes towards a larger share of high-yield assets as the level of net worth increases, I first use data on historical asset returns and portfolio composition by wealth level to construct an empirical return function. I then augment an Overlapping Generation version of the standard neoclassical growth model with idiosyncratic labor income risk and missing insurance markets to allow for returns on savings to be increasing in the level of accumulated assets. The quantitative properties of the model are examined and show that an empirically plausible difference between the return faced by poor and wealthy agents is able to generate a substantial increase in wealth inequality compared to the basic model, enough to match the Gini index and all but the top 1 percentile of the US distribution of wealth.     

Voluntary Listing Requirements and Corporate Performance: The Case of the Dey Report and Canadian Firms

We investigate the determinants and consequences of compliance with the Dey Committee recommendations encouraging greater board independence in Canada. Companies that acted on this recommendation appear to have done so to improve their performance and not for cosmetic purposes. Poorly performing firms that modified their boards experienced a greater increase in performance compared to those that did not. Overall, it appears that the primary function of the Dey Report was to refocus firms' attention on the quality of board monitoring, particularly those with poor relative performance.     

审计委员会中女性任职对盈余质量的影响——来自2011—2015年A股上市公司的经验证据

随着董事会中女性任职比例的提升,女性董事在公司治理中的角色和作用日益引起各方关注。以2011—2015年A股上市公司为样本,就审计委员会中女性任职对公司盈余质量的影响进行实证检验后发现,审计委员会中有女性任职、有两名以上女性任职、主任委员由女性担任均有助于提高盈余质量,且在良好的治理环境下,审计委员会中女性任职的治理作用能够得到更充分的发挥。以上研究结果表明,审计委员会性别结构的多元化有助于促进其更好地发挥监督职能,提升盈余信息质量。     

如何有效地进行作文教学

作文教学是语文教学的重要组成部分,语文教学的成败,在很大程度上取决于语文教学。要有效的提高学生的作文水平,语文教师应采取行之有效的方式方法,要激发学生作文的兴趣,教会学生观察生活、开发作文素材,提倡读写结合、勤写多练,这些都是作文教学的有效途径。     

Dirichlet空间上的分式线性复合算子

讨论了Dirichlet空间上的某一类分式线性复合算子与紧算子生成的C* -代数C*(Cφ,K),证明了此类C* -代数有短正合序列:0→K(D)→ C*(Cφ,K)→Μ2→0.     

Research Productivity and Institutional Characteristics of Hospitality and Tourism Programs

Although some prior studies have examined research productivity, little is known about institutional characteristics and their influence on research productivity. The study reported in this article examined the relationship between research productivity and institutional characteristics of faculty composition, supporting staff, and doctoral research among the world's leading hospitality and tourism departments and schools. Empirical findings indicated that while faculty size was positively associated with productivity, a higher composition of senior researchers in the rank of professor tends to yield higher productivity. Similarly, a larger group of supporting staff and the availability of a doctoral program were the significant predictors of research productivity. Another interesting finding was that the autonomy of institutions offering hospitality and tourism programs emerged as another characteristic influencing higher research productivity.     

我国劳动力效率对东南亚经济发展影响的实证研究

构造了劳动力负荷相关因子模型,并通过相关数量分析研究,认为东亚经济的蓬勃发展归功于劳动力的释放,然而老年负荷和儿童负荷的影响作用不一样。收入增加因素、劳动力供给因素、公共财政机制等多种因素使得东亚人口劳动力的负荷运转有所减缓;但以后的劳动力负荷是未知数,对未来的经济增长也会造成冲击。     

论初中作文教学中存在的问题及策略

针对作文教学中普遍存在的四个问题,提出几点切实有效的作文教学方法。     

消费结构问题及其经济学分析

我国消费存在着三大问题,即消费结构处于较低水平,延缓消费结构升级;消费差距扩大,加剧消费断层;消费结构分量扭曲,导致市场无效供给.通过运用经济学原理对以上问题进行分析表明,目前被锁定在储蓄中的居民收入是阻滞消费结构升级的主要原因之一,消费断层可以通过不断提高低收入阶层的收入逐步填补,结构分量扭曲所造成的低效率可以通过生产结构的合理调整加以解决.为优化消费结构,政府应制定切实可行的政策.     

施工项目成本预测与管控

通过科学的经济评价方法,对公路施工项目成本进行预测,根据预测的数据对施工成本进行有效控制,达到工程施工项目获得更好利润的目的。