金融衍生工具的风险暴露与监控框架设计

分析金融衍生工具的活动特点，观察金融衍生工具的风险暴露，研究金融衍生工具各种监控方式的内涵、主要操作手法、适用的范围以及可供选择的对策，有助于建立起全球性金融衍生工具监控框架设计体系。     

虚拟品牌社群娱乐价值对品牌忠诚的作用机制研究

笔者采用实验方法,首次就虚拟品牌社群娱乐价值对消费者品牌忠诚的作用机制进行探究,并将品牌社群承诺细分为情感性承诺和算计性承诺两种类型。结果发现:情感性品牌社群承诺在其中起到完全中介的作用。因此企业在实践中应加强虚拟品牌社群的娱乐版块建设,并通过多种方式来强化消费者的情感性品牌社群承诺以促进其品牌忠诚。     

我国金融市场间溢出效应研究——基于四元VAR-GARCH(1,1)-BEKK模型的分析

汇率改革以来,政府实施了一系列金融市场改革,促使金融市场一体化程度显著提高,增强了金融市场间联系。本文采用四元VAR(6)-GARCH(1,1)-BEKK模型分析了我国主要金融市场(股票市场、债券市场、外汇市场以及货币市场)的溢出关系。研究发现,上述市场有很强的波动集聚性和持续性,大多数金融市场间存在显著的双向均值溢出,所有市场间均存在显著的双向波动溢出,还发现市场间溢出可能主要来自于市场传染效应。据此,本文认为政府应该采取合理有效的监管框架,监控金融市场参与者的资本金状况,防止金融市场大幅波动,降低风险累积程度,并在执行货币政策时,兼顾金融市场价格变化对货币政策执行效力的影响。     

An Analysis of Concepts and Evidence on the Question of Whether IFRS Should be Conservative

Do international accounting standards require conservative accounting? The IASB's conceptual framework suggests that they should not, while the research literature is largely silent on the matter, typically presuming conservatism to be an outcome of private contracting rather than standardized, public, general purpose financial reporting. In this paper, we analyze the actual requirements of IFRS. We find multiple examples of recognition requirements that lead to unconditional conservatism, measurement requirements that lead to conditional conservatism, and also presentation/disclosure requirements that further support a conservative reporting environment. These findings complement, support and deepen existing evidence in the empirical literature that accounting is in practice conservative. We show, however, that the requirements for conservatism in IFRS conflict with, first, the IASB's stated position in its conceptual framework that accounting should not be conservative and, second, the private contracting explanation for conservatism that is generally accepted in the literature. What is missing, and lies behind both conflicts, is an acknowledgement and understanding of the role of an agency/contracting perspective in enhancing the decision‐usefulness of general purpose accounting standards, given the information/incentive asymmetry and uncertainty that characterizes the real‐world context in which those standards operate. From a policy perspective, such an understanding would reconcile the IASB's conceptual framework with the actual requirements of IFRS. From a research literature perspective, such an understanding would re‐position accounting standards as central to the practice of accounting conservatism, which would in turn require revision to the generally accepted theory of a private contracting explanation for the empirical evidence of conservative accounting practice.     

21世纪中国国家形象传播管理战略的新探索

2011年1月17日,纽约时报广场的户外大屏幕上《中国国家形象片--人物篇》,在全球首次正式与公众见面.一些海外媒体把它称作为中国“国家公关”时代的来临.在全球化的背景下作为软实力之一的国家形象在新世纪凸现了其无可替代的重要性,良好的国家形象有利于国家全球地位的提升、国家利益的维护以及国家目标的实现.如何做好中国国家形象传播管理的大文章,我们需要关注“中国崛起”形象表述语的定位、“和谐世界”价值观的推广、世界公民素质的培育、企业品牌的锻造以及拥有国际话语权主流媒体的构建等关键要素的研究与探索,因为这些方面对中国国家形象的塑造与传播是至关重要的.     

Competing Industrial Standards and the Impact of Trade Liberalization

The main purpose of this study is to illustrate, with simple trade theory, the relationship between competing industrial standards and trade liberalization. We assume that there are two competing industrial standards in an international context, each of which applies to a group of differentiated products. A product can be used only in combination with other products based on the same industrial standard. We examine the impact of trade liberalization (i.e., a decline in trade costs) on consumers’ choice of a standard. It will be shown that the degree of indirect network effects, captured with substitution between differentiated products, plays an important role as a determinant of the impact of trade liberalization.     

企业性格内涵、表现形式与演化机制

在明确界定企业性格内涵的基础上,构建了一个探索性理论架构,试图阐明由组织成员个体人格到组织层面企业性格的表现形式和演化机制,并基于6项核心特征分析,指出企业性格对组织竞争优势形成的3条作用路径,提炼出竞争优势形成的性格基础观,为未来研究提出整合性分析框架。     

Scoping river basin management issues with participatory modelling: The Baixo Guadiana experience

This paper details the design and implementation of a participatory modelling process in the Baixo Guadiana River Basin, in Portugal. A group of stakeholders was involved in a causal mapping exercise that lead to the development of a shared view of the problems, pressures and impacts characterizing the river basin. A simulation model was also developed to support experimentation with alternative management scenarios for the area. The paper looks critically at the evaluation of the participatory modelling outcomes, both at the individual and group levels, discussing the role of this approach in supporting the scoping stages of river basin planning and management processes. On the downside, the unstable group composition seems to have hindered the chances of producing a higher impact in the functioning of the group, and subsequently the capacity to sustain the level of collaboration required to achieve the strategic river basin objectives established during the participatory modelling process. The paper discusses the issue of group stability as well as some options to overcome the limitations of unstable participant groups. The strengths of participatory modelling, as underlined by the Baixo Guadiana experience, include the flexibility to adapt the method to different contexts and participatory designs and the capacity to structure the active involvement of stakeholders, providing an open and shared language for collaborative policy design, fostering learning and knowledge integration.     

Differences in work goals among regions of the Netherlands and Germany: functional,institutional and critical event influences

We use World Values Survey data from the Netherlands and Germany to compare the importance of within-nation region differences with nation differences in work goals. These two nations have historical relationships and internal differences that are especially useful for testing hypotheses about nation compared to within-nation region differences. We develop hypotheses about the implications of religious heritage and urbanization for work goals based on functional, institutional and critical event explanations for regional culture differences. A number of work goals (notably extrinsic goals like pay) show too little difference between either nations or within-nation regions to consider them. For those work goals that do show region differences, the largest differences, those for job security goals and goals for working with pleasant people, are associated with region differences between rather than within the two nations. Regional differences in some work goals are also related to religious heritage. Regional differences in work goals have implications for the kinds of HR programs that managers may wish to promote in different locations. For example, the results suggest that HR managers have reason to anticipate that policies promoting job security may receive especially positive responses in Germany, whereas programs promoting social relationships may be best received in the Netherlands. Similarly, organizations that operate in both the north and south of each country should be alert to a number of possible within-nation differences in local optimal HR policies, but the within-nation differences found here are small enough that they should be carefully checked in specific organizations.     

A review on cost-effectiveness analysis of agri-environmental measures related to the EU WFD: Key issues, methods, and applications

The European Water Framework Directive (WFD) explicitly integrates economics into water management and water policy in Europe. Specifically, Article 11 and Annex III of the Directive call for a cost-effectiveness analysis (CEA) of alternative mitigation measures as a requirement in formulating Programme of Measures (PoMs) to achieve ‘good ecological status’ for all waters in Europe. As agriculture is supposed to be the major contributor to diffuse water pollution, CEA of agri-environmental measures has been given paramount importance in establishing the PoMs. This paper summarises the status, significance, and methodological limitations of WFD-related CEA studies in Europe. Cases from the United Kingdom, countries surrounding the Baltic Sea and central and southern Europe were included in the review. Review results indicate that most WFD-related CEA studies: (1) were based on models of ‘representative’ farms without capturing the variability among real-world farms; (2) concentrate on a single ecological effect of measures or are based on cost estimates of the sectors directly involved in the pollutant-reduction programme (i.e., co-benefits, trade-offs, and external costs were not examined); and (3) did not incorporate uncertainties in both cost and effectiveness estimates. Based on the review results, the paper suggests policy implications and recommendations for future research in the field.