Flexibility for Whom? Control over Work Schedule Variability in the US

Abstract

According to the May Work Schedules and Work at Home Supplement of the Current Population Survey in 1997, 2001, and 2004, the proportion of employees in the United States with variable starting and/or stopping times who do not control their schedules has increased rapidly since the late 1990s. This category included one out of nine civilian employees ages 18–65 in 2004. These jobs have increased rapidly within industries and occupations. The incumbents of these jobs are more likely to be men, black, and immigrant; white, US-born women' chances of holding such jobs are greatly reduced by their responsibility for children. These findings identify a growing tendency to structure jobs so as to exacerbate the conflict between family work and paid employment, and to reinforce the gender division of labor between home and wage labor, especially in the most disadvantaged communities within the US.     

Accounting for age in marital search decisions

Spouse quality, measured by educational attainment, varies significantly with the age at which an individual marries, peaking in the mid-twenties then declining through the early-forties. Interestingly, this decline is much sharper for women than men, meaning women increasingly marry less educated men as they age. Moreover, quality has worsened for educated women over several decades, while it has improved for men. Using a non-stationary sequential search model, we identify and quantify the search frictions that generate these age-dependent marriage outcomes. We find that single-life utility is typically the dominant friction, though college women in the 1950 and 1970 cohorts are affected even more by deteriorating suitor quality. Regardless of educational status, individual choice (as opposed to pure luck) is pivotal in explaining marriage market outcomes earlier in life.     

母公司超额委派董事对子公司投资效率的双刃效应研究

基于2010—2021年中国沪深A股上市子公司数据,探究母公司超额委派董事对子公司投资效率的影响。研究结果表明,母公司超额委派董事程度与子公司投资效率之间呈倒U型关系。进一步分析发现,在子公司董事会规模较小、董事会互动强度较高以及子公司其他董事社会资本较低的样本中,母公司超额委派董事的治理效应更加显著;母公司超额委派董事通过监督效应、资源效应、信息沟通效应对子公司投资效率产生影响。异质性分析发现,非国有股权属性、多个大股东会强化母公司超额委派董事的积极治理作用。研究结论丰富了超额委派董事在公司治理领域的研究,为母子公司情境下提高子公司投资决策质量提供了经验证据与理论借鉴。     

Innovation as a driver of eco‐innovation in the firm: An approach from the dynamic capabilities theory

The aim of this study is to investigate how innovative capabilities of the firm affect eco‐innovation from a dynamic capability lens. We build on OECD research to conceptualise eco‐innovation as the capacity with which firms modify, redesign, and create products, processes, procedures, and organisations in order to reduce environmental impact. We propose and test the temporal and relational properties of eco‐innovation as a capability. We demonstrate that eco‐innovation possesses two properties of innovative capabilities, namely, persistence over time and interrelation with other innovations. We thus shed new light on the mechanism through which firms engage in eco‐innovation. We also provide empirical evidence to the debate on the relationship between the “normal” innovation (technological or nontechnological) and eco‐innovation. We show that eco‐innovation and innovation are interrelated both simultaneously and sequentially. Moreover, we show that innovation capabilities and eco‐innovation are not only related, but they also have a complementary nature, which facilitates the development of future eco‐innovation.     

Zombie Firms and Debt Accumulation: A Theoretical Framework and Chinese Experience

In recent years, as China has grappled with rising debt and broad economic restructure, the prevalence of zombie firms has become a critical problem. This paper provides a theoretical framework illustrating the rationale behind the occurrence of zombie firms from the perspective of banks. We develop differential equations to model a bank's expectation and the ex ante estimate that underlies its decision to refinance an insolvent borrower. An optimistic expectation is essential in zombie lending and is intrinsic to the countercyclical pattern of zombie firms. Our model also predicts that debt can build up to an unsustainable level if recovery of profitability is sluggish or the initial debt burden is too high. Examining the Chinese experience of zombie firms over 2007–2017, this paper highlights two findings. First, the share of zombie firms among Shanghai and Shenzhen A‐share listed companies demonstrates a countercyclical pattern. Second, the positive correlation between zombie share and debt accumulation across manufacturing sectors sheds light on the link between zombie firms and the rising corporate debt in China. To deal with the “zombie” problem, the government should carefully weigh its policies to avoid further distortions because the occurrence of zombie firms may be inevitable and impossible to eliminate.     

SOA404条款的实施与启示

自从2003年6月SEC宣布正式实施SOA法案以来,404条款一直饱受争议,原因主要在于其巨额的实施成本。为了应对这些问题,SEC也不断采取措施,进行调整。建立健全内部控制已是大势所趋,实施的关键是降低成本。现阶段,我国内部控制体系建设仍应以内部控制标准体系建设和内部控制评价制度建设为主,实施中应“统一管理、分步推进、细化分类标准、设定强制执行门槛”,同时应加强有关人员的相关培训。     

“实质重于形式”原则的应用分析

本文对关联交易非关联化的类型进行了总结,指出关联交易非关联化的本质特征是:对交易或事项的会计处理只重法律或制度的形式,而无视甚至有意歪曲经济业务的实质。认为对关联交易非关联化的监管是要强化“实质重于形式“原则在监管中的运用,并对确保“实质重于形式“原则在关联交易监管中贯彻执行的措施和制度做了进一步的阐述。     

西北农村建筑增效资源关键途径

文章所论增效资源乃就西北农村建筑有关资料而言,其效果应该:(1)有利于全球消除气候过暖的危害:(2)有利于西北农村建筑生态的可持续发展.经调研与相关实验,文章建议:西北农村建筑增效资源的关键途径是"因地制宜、优化体形、有效用能、环境绿化和自然空调".这五项原则既是西北农村建筑可持续发展的绿色之途,也是有利于消除气候过暖危害的必由之路.     

Electoral competition with uncertainty averse parties

John Nash's work laid the foundations for evolutionary game theory as well as the theory of games with rational agents. The Nash bargaining solution emerges as a natural solution concept in both of these settings.     

构建科学司法权监督机制 提高司法公信力

党的十七大以来,我国司法体制和工作机制改革取得新进展,司法独立性大大加强,促进了司法公正;克服了人少案多的不足,司法效率大大提高。但当前我国不规范的司法行为还一定程度存在,司法公信力还有待加强。必须认真贯彻党的十八大精神,进一步深化司法体制改革,充分发挥司法机关内部监督作用,加强检察监督作用,高度重视律师监督作用,自觉接受人大和政协监督,科学对待新闻媒体的舆论监督作用,构建科学司法权监督机制,提高司法公信力。