转轨时期企业投资行为目标及影响因素——基于新古典模型的实证检验

以我国非金融业上市公司的数据为样本，以新古典投资模型为基础。对我国企业投资行为的目标和影响因素进行了实证检验，结果表明，我国上市公司的投资行为具有新古典条件下企业投资行为的共同特征，同时也具有转轨时期的特征。     

农村党支部选举中的权力影响因素分析——以山东省东平县T镇D管区为例

目前。在我国农村党支部选举中存在着多种权力影响因素。主要表现为乡村族权的错位干涉、乡村民权的相对缺失以及来自乡镇部分工作人员的主观因素影响。解决农村党支部选举影响权力异化问题。对于避免农村政党民主落后干政治民主、加强党在农村基层组织建设等具有重要意义。其中。重点发挥基层政党民主资源。转变农村部分党组织领导方式，规范民主选举程序。是加强农村党支部选举实践和组织建设的有效途径。     

企业技术创新动力的影响因素及其整合模型

本文认为,企业技术创新的根本动力是企业基于竞争对手而对技术创新的收益预期;基本动力来源于企业对技术创新的内在需求;影响企业技术创新的因素有企业内部环境、企业技术创新能力、外部资源约束及外部环境等;外部环境因素主要有技术发展的推动、市场竞争的压力和政府的政策激励等。文章提出了企业技术创新动力要素的整合模型。     

A panel data model with interactive effects characterized by multilevel non-parallel factors

Current research only considers parallel factors in factor models. In this article, we provide an algorithm based on cross principal component analysis that identifies and estimates a panel data model with interactive effects characterized by multilevel and non-parallel factors. The simulation results show that our estimator is consistent, converges quickly and outperforms other estimators that identify the factor structure incorrectly.     

A hybrid approach based on the fuzzy AHP and HFACS framework for identifying and analyzing gross navigation errors during transatlantic flights

Despite the considerable efforts to alleviate problems of North Atlantic (NAT) air traffic and implementation of novel surveillance systems, oceanic errors still remain stubbornly high. The purpose of this study is to identify and examine the factors that contribute to navigation errors in the NAT Region by integrating a Fuzzy Analytic Hierarchy Process (FAHP) into the Human Factors Analysis and Classifying System (HFACS) framework for the first time to the best of our knowledge. According to the priority weights, the most important factors contributing to oceanic errors are lack of training provided by airlines, use of inappropriate routes for oceanic crossing by dispatchers, and failure to take preventive measures against oceanic errors. To mitigate the possibility of the aforementioned errors, pilots as individuals must increase their knowledge on cockpit procedures and airlines as organizations have to pay particular attention to training programs to implement appropriate preventive actions.     

基于空间计量模型的土地流转速度对农业生产效率的影响分析

以2008-2017 十年间我国28 个省市的农业生产效率为面板数据，采用空间计量模型，将 土地流转速度对农业生产效率的影响划分为四种模式，用杜宾模型分析得到不同控制因素对农业 生产综合效率的影响，并根据各影响因素提出提升农业生产率的针对性建议。研究表明，在面板 数据采集期间，虽然我国的农业生产效率不断提高，但仍处于较低水平；三大地区之间的农业生 产效率差异显著，整体呈现出“东高西低”的差异模式；且对农业生产效率影响较大的因素主要 有经济水平、自然灾害、产业结构、财政支农力度、基础设施建设、非农就业等。因而，研究成 果对合理提高中国的农业生产效率具有积极意义。     

Is Financial Flexibility a Priced Factor in the Stock Market?

This paper develops a factor analysis–based measure for shifts in corporate financial flexibility (FFLEX) that can be observed from public accounting information. Companies that experience positive shifts in FFLEX are associated with higher future investment growth opportunities. We show that FFLEX is a robust determinant of future stock returns. Firms that have increased their financial flexibility are associated with lower stock returns in the subsequent period. A zero‐cost return portfolio produces a significant positive monthly premium of 0.69%, which is driven by covariance (risk). Risk inherent in the flexibility factor is not explained away by either prominent pricing characteristics or factors.     

众包参与者初始信任影响因素研究

从个人信任倾向、感知网站因素、结构保障以及个人动机4个方面探讨众包参与者初始信任的影响因素.实证分析结果显示:感知风险、感知网站易用性、信任立场、感知第三方保障与初始信任之间具有非常显著的关系;潜在收益、感知网站声誉、感知网站规模与初始信任具有较强的显著性;感知网站声誉、感知网站规模与可靠性无关;对人性的信心、感知法律与技术保障对信任信念维度中的可靠性和善意均无显著性;对人性的信心、信任立场与感知第三方保障、感知法律与技术保障具有非常显著的关系.     

Experimental evidence on personality traits and preferences

Using an experiment, we test the relation between personality traits and revealed risk and ambiguity preferences, and we consider the effects of personality traits prevalence in a group on the decision making of each group member. In the experiment, subjects reveal their risk and ambiguity preferences through lottery choices. They then participate in an unstructured group chat. Afterwards, they are given the chance to revise their initial lottery choices. Results show that personality traits affect ambiguity but not risk preferences before the chat. Specifically, agreeableness is negatively related to ambiguity aversion. We also show that the probability of changing decisions after the chat is affected by the individual's personality traits but not by the traits of the other group members. The latter only affects the direction and the degree of the change.     

Impact of Islamic banking development and major macroeconomic variables on economic growth for Islamic countries: Evidence from panel smooth transition models

This study examines the nonlinear relationship between Islamic banking development, major macroeconomic variables and economic growth in Islamic countries. Using the panel smooth transition model, the results show a positive nonlinear relationship between Islamic banking development and economic growth. Moreover, the relationship between the macroeconomic variables and economic growth is asymmetric and regime-dependent. Further, by using the dynamic panel quantile model, we show that for many cases the Islamic banking variables lead economic growth across the quantiles. More specifically, foreign direct investment, oil production and inflation have a positive impact on economic growth during the normal financial development state, while government consumption, one-lag economic growth, terms of trade and financial development have a negative impact on economic growth for this state. The human capital index, education and the rule of law have an insignificant impact, regardless of the prevailing regime. The results for the separated oil-importing and oil-exporting economies are generally consistent with the combined sample regarding the Islamic banking development variables. As for the macro variables, they have a positive and significant (insignificant) effect on EG for the oil-importing (oil-exporting) economies for almost all models.