俄罗斯科技型初创企业:值得关注的中俄科技合作伙伴

在实施以创新为核心的国家发展战略的背景下,俄罗斯涌现出一批致力于前沿科技研发及高科技产品的科技型初创企业。这些科技型初创企业发展的主要原因在于俄罗斯政府的作用:出台法律法规,鼓励科研单位和高校创办企业;搭建平台,推动重点领域科技研发;拓展资助渠道,为创新项目提供定制化金融服务;实施专项计划,重点支持应用研究的发展;启动知识产权私有化,推动智力成果的实际应用;等等。该类企业大多具有2个突出特点:在创始人或项目参与者中,年轻人比重较大;主要从事信息通讯、生物医药、节能和能源、航天技术等战略性技术领域的研发。通过研究俄罗斯科技型初创企业的发展原因及突出特点,对中俄在高技术和创新领域的合作提出了具体建议。     

The determinants of commercial banking profitability in low-, middle-, and high-income countries

Using a broad bank-level dataset and the GMM estimator technique described by Arellano and Bover (1995), this paper analyses how bank-specific characteristics, macroeconomic variables, and industry-specific factors affect the profitability of 10,165 commercial banks across 118 countries over the period from 1998 to 2012. Grouping the countries according to three income levels, we show that the determinants of bank profitability included in our model can explain existing profitability differences among commercial banks in low-, middle-, and high-income countries. The profitability determinants vary quite widely across the different levels of income in terms of significance, sign and size of the effect. The level of income has thus an important impact on the determinants of bank profitability.     

How credible is the North Korean threat?

We perform event analysis on particular episodes of tension in the Korean peninsula between 2000 and 2008, and investigate the effect of the events on South Korean financial markets (stock markets, bond yield spreads and the exchange rate) given that South Korea would be the first affected by a military aggression from North Korea. Surprisingly, in nearly all cases, these events, which have often been dramatized in the world media, have no significant impact on either of these variables or only a very small one. We also find no significant impact of events on listed firms that would a priori be likely to suffer from increased tension between the two Koreas. Since financial markets often contain better predictions than expert opinions or surveys, these results strongly suggest that the North Korean threat is non‐credible.     

O comportamento dos custos das empresas brasileiras listadas na BM&FBOVESPA entre 1994 e 2011 com ênfase nos sticky costs

By an accurate survey, this study aims to analyze how costs behave brazilian companies listed on the BM&FBOVESPA between years of 1994 and 2011. In order to do this, diverse economic and financial information available in the form of reports was gathered, but which has not yet gone through any statistical analysis, for a longitudinal analysis that includes a period of 18 years. The results are presented in two axes, in which the first one indicates costs behavioral tendencies and the second one analyzes their symmetry. The results showed that the Cost of Goods Sold (CPV, for Portuguese) presents a strong declining trend; Expenses Sales are directly related to the area (essential goods or monopoly, for example); Administrative Expenses have a slight declining trend. In relation to sticky costs, when performing an overview with the companies studied, the theory proposed by Anderson, Banker and Janakiraman (2003) is partially applied, since, for varying levels of revenue up to 10% the asymmetry is confirmed.     

Individual attitudes towards the impact of multinational corporations on local businesses: how important are individual characteristics and country-level traits?

We study the importance of individual characteristics and national factors influencing individual attitudes towards the impact of multinational corporations on local businesses. Our sample includes more than 40 000 respondents in 29 countries from the 2003 National Identity Survey conducted by the International Social Survey Programme. We find that individual demographic factors and socioeconomic status, such as gender, age, income and education, are strong predictors of their attitudes. For example, income and education are positively associated with favourable attitudes towards the impact of multinational corporations (MNCs) on local businesses while age is negatively associated with individual attitudes towards MNCs. In addition, hierarchical ordered logit model results show that approximately 8% of total variations in individual attitudes around our sample mean are not explained by differences in personal traits. Instead, they are due to country-level heterogeneity such as, but not limited to, different degrees of openness or different aggregate income.     

Mobile technology & resident attitude research

This research note highlights the novelty of integrating location-based services (LBS) available on Smart Phones and Tablets into traditional resident attitude survey methodologies such as door-to-door data collection. It specifically reviews how the LBS technology available on mobile devices can be used to systematically capture GPS coordinates of one's residence and integrate this captured spatial information into software such as ArcGIS and SPSS for further analysis. By having GPS coordinates associated with respondents' answers, researchers have an additional layer of information available for conducting a multitude of tests previously not possible with subjective categorical spatial data. Two research applications using the spatial location of residences are provided as examples of how LBS available on mobile devices can be integrated within resident attitude projects. The use of LBS technology can help researchers better understand how the distance residents live from major tourist attractions influences their attitudes towards tourism.     

Revisiting the labor supply effect of social security earnings test: New evidence from its elimination and reinstatement in Japan

We explore the labor supply effect of the social security earnings test in Japan on those aged 65–69 years through a combined examination of the elimination of the earnings test in 1985 and its reinstatement in 2002. We present evidence showing that the effects of changes in the earnings tests on the labor supply of the elderly are not symmetric, controlling for changes in the attributes of workers and firms. The repeal of the earnings test in 1985 did affect the earnings distribution of the elderly (especially for male), while its reinstatement in 2002 did not alter the earnings distribution.     

中小房地产企业资金链断裂问题分析及其对策研究

近年来,房地产企业作为一个热门行业,一直保持着高速发展状态。但由于受政府宏观政策调整、金融机构无序行为、宏观经济周期变动、担保连带责任的建立以及高负债率、融资途径狭窄和企业内部资本安排不合理等内外部原因的影响,导致中小房地产企业的资金链断裂问题频发。我国应立足于企业自身特点,充分发挥政府"看得见的手"的作用,加快构建科学的管理体制,积极拓宽融资渠道,合理调整融资结构,加紧资金筹措及资金规划,以有效促进我国房地产事业的持续健康发展。     

我国煤炭资源税从价计征的局限性研究——基于征税效果和效率的预评价

从征税效果和效率的视角,对资源税从价征收进行了预评价。评价结果表明,从价计征改革存在2大局限性,一方面无法达到"地方政府摆脱资源大省、财政小省困境"和"提高回采率、保护煤炭资源"等预期效果;另一方面,会造成征税的双重超额负担,导致征税低效率。在此基础上,建议应从整体而非局部推动煤炭资源税费改革,系统地进行煤炭资源税收体系再设计。     

高校设备招标中供应商选择存在的问题与对策探讨

招标采购作为一种科学高效的方式已被高校设备购置广泛采用,然而我国高校设备招标工作起步较晚,各环节不够完善,目前存在诸多问题。本文从四个方面界定供应商选择的标准与审核工作,在分析现阶段供应商选择存在问题的基础上,给出相应的解决办法。