Corporate social responsibility and Eurozone corporate bonds: The moderating role of country sustainability

In this paper, we empirically examine whether superior performance in corporate social responsibility (CSR) results in lower credit risk, measured by credit ratings and zero-volatility spreads (z-spreads). We are especially interested in how the environmental, social, and governance (ESG) related performance of the corresponding countries moderates this relationship. We find only weak evidence that superior corporate social performance (CSP) results in systematically reduced credit risk. However, we do find strong support for our hypothesis that a country’s ESG performance moderates the CSP–credit risk relationship. Superior CSP is regarded as risk-reducing and rewarded with better ratings and lower z-spreads only if it is recognized by the environment. In addition, we find a reduction of corporate bonds’ z-spreads by approx. 9.64 basis points if the CSP of a company mirrors the ESG performance of the country it is located in.     

The antecedents of digital collaboration through an enhanced digital platform for destination management: A micro-DMO perspective

While the tourism sector shifts towards digital transformation, Destination Management Organisations (DMOs) often struggle to adapt to their changing technological environment. This study explores the antecedents of digital collaboration and develops a framework for micro-DMOs to enhance effective destination management through digital technologies. An integrated sequential qualitative approach was adopted by conducting multi-phase interviews, in addition to designing and trialling a real-world trial digital platform. The research provides empirical evidence that digital collaboration is essential for micro-DMOs, necessitating them to transform their current “websites” into digital platforms which act as a hub for business stakeholders to actively be involved in. Antecedents of successful digital collaboration include mutuality, trust, control, and leadership which may be manifested differently from non-digital collaboration. Additionally, the study identifies three aspects for digital collaboration; marketing, networking and knowledge sharing that demands specific attention. Our results have theoretical, methodological, and practical implications for academia, industry and policymakers.     

What is the major determinant of cross-border banking flows?

This study examines the major determinant of cross-border credit flows through global banks across 70 countries. Employing a Bayesian dynamic latent factor model, we decompose volatilities of banking flows into the contribution of a global common factor, regional common factor, and country-specific factor. The results indicate that the global and regional common factor explains about 40–50 percent of volatility in overall cross-border banking flows. In particular, the contribution of the global common factor increased in the 2000s. Simultaneously, main determinants are largely heterogeneous across countries: this implies that the desirable policy response to credit inflows may differ for each host country.     

“2＋1”工学结合工作站管理顶岗实习“1”的模式初探——以常州机电职业技术学院“2＋1”工学结合为例

推行工学结合，加大高职大学生实习的力度，是贯彻国家教育方针、路线、政策的重要举措之一。常州机电职业技术学院实施“2＋1”工学结合工作站管理学生的顶岗实习，即承担三年制高职最后“1”的教学、教育、管理，作为一种模式，是一种探索，也是一种创新。     

道路运输行业面向节能减排的I/M制度检测方法研究

I/M制度是保证汽车处于良好的技术状况,投资最少、最有效、最根本的途径。文章介绍了适用于我国道路运输行业现状的I/M制度在实施时所能采用的检测方法。并且对这些检测方法进行了详细的分析及比较。     

探索“2+1”人才培养模式中“1”的实践教学规划和管理体制

本文主要对我国高等职业教育的人才培养模式问题进行了研究,尤其是对"2+1"人才培养模式中最后一年的实践教学规划和管理体制进行了深入探讨,提出了4个方面的建议和具体措施。     

基于快铁融合的上海铁路集装箱快运站选址研究

快铁融合可以充分发挥快递企业和铁路运输的优势,有效提升物流作业效率,达到运输资源分配平衡的效果,是多元化运输的发展方向。在既有和计划建设的铁路货运站中选择铁路集装箱快运站与快递企业集散网络衔接,以快递企业时间满意度和集散运输成本为目标,构建基于时间满意度的铁路集装箱快运站选址模型,以上海铁路集装箱快运站为例进行实证分析,提出保证铁路集装箱快运站与快递企业合理衔接的对策,为铁路集装箱运输融入快递市场提供决策支持,加速快铁融合的实施。     

我国农村公共服务政策回顾与评价

我国现有农村公共服务政策是在特定的经济、政治、文化和国际环境背景下形成的.新世纪以来出台的一号文件及涉农决定凸显了政府提供农村公共服务的内涵,标志着全新的执政理念和政府职责的确立,其政策效果已经和正在发生巨大作用.但要构建一个适应社会主义市场经济体制要求的农村公共服务体系还有很长一段路要走.     

News shocks or parametric indeterminacy? An observational equivalence result in linear rational expectations models

This paper studies identification in linear rational expectations models with news shocks. We show that news-driven models and indeterminate equilibrium economies with i.i.d. fundamentals are observationally equivalent. This finding calls for carefully designing empirical investigations of news shocks in estimated DSGE models.     

International transmission of business cycles: Evidence from dynamic correlations

We exploit dynamic correlations to estimate determinants of output comovement between OECD countries. Trade intensity, financial integration, and specialization patterns have significantly different effects on comovements at different frequencies. This sheds more light on previous results based on statistical filters.