Impact of Segment‐level Natural Resource Operational Risk Reporting on Earnings Predictions

Non‐financial reports alert investors to operational risks associated with issues such as insufficient access to natural resource inputs and related costly interruptions to production, while segment‐level reports alert investors to operational risk distribution across a firm. An important issue, to date unexplored, is how segment‐level non‐financial reporting has an impact on earnings predictions. We report the results of an experiment used to examine how mining company segment‐level water reports affect investors' earnings predictions, where water reports indicate whether the firm and its segments will have access to sufficient water to meet production needs. We find that investors do not change their earnings predictions when firm and segment‐level reports indicate low water risk but they do revise down their earnings predictions when firm and segment‐level water reports indicate high water risk. This is consistent with investors responding to the additional information provided in segment‐level reports confirming that water risk is high across the firm. Regardless of whether firm‐level water reports indicate high or low water risk, when segment‐level reports indicate that one segment is low water risk and another is high water risk, investors revise down their earnings predictions. This is consistent with investors recognizing that natural resource operational risk concentration in one segment can affect earnings more than evenly‐distributed risk. Overall, our findings suggest that belief‐adjustment theory explains how investors react to prospective operational risk information contained in segment‐level water reports according to the similarity of the segment‐level risks, and that this information is factored into earnings predictions.     

长三角地区未来发展的竞争力来源分析

长三角地区已经成为我国经济发展的重要区域.长三角地区经济的发展不仅关系到该地区的发展前景,也影响到全国的经济发展.长三角地区被誉为中国乃至世界经济增长的"发动机".而长三角地区未来要实现持续发展还面临着诸多挑战,其集中体现在产业结构不合理、能源问题以及现代服务业发展相对落后等.基于此,长三角地区必须尽快建立可持续发展战略,加快构建现代服务业集聚区,这是长三角地区未来发展的竞争力来源.     

近十五年国家社科基金资助经济学项目的统计分析

本文对1993～2007年近15年间国家社科基金资助经济学项目的类型分布、时间分布、隶属系统分布、地区分布、学校分布、主持人分布等进行了统计分析,借以探讨我国经济学研究的状况.其结果是经济学仍然是我国未来相当长时期内的研究热点,经济学研究内容有很强的时效性,选题紧密围绕国家"十一五"规划的重点发展目标.经济学研究力量在系统、单位及地区的分布极不均衡,表现出很强的离散态势.     

长江经济带土地纠纷的演变特征及影响因素研究

研究目的：探究长江经济带土地纠纷演变特征及影响因素,为制定多元防范化解土地纠纷政策提供参考;研究方法：基于中国裁判文书网公开审判文书构建长江经济带11省市2011—2020年土地纠纷审判案件数据集,利用经典数理统计方法和固定效应模型进行研究。研究结果：（1）2011—2020年,长江经济带土地纠纷呈现出纠纷数量先增后减、纠纷时间相对集中、纠纷分布西多东少、纠纷时段缩短明显、小额案件比例缩小、协调结案比例大增的演变特征。 （2）城市化进程中土地增值带来的巨大收益争夺是土地纠纷案件增多的重要驱动因素;农村集体产权制度改革会触及利益纠纷,对土地纠纷案件数量增加具有显著正向影响;解纷投入力度对土地纠纷案件数量控制效应显著;经济增长对土地纠纷案件数量的增加影响显著,随着经济增长土地纠纷案件数量会出现先增加后减少的倒U型变化规律;二三产业增加、当年征收集体土地面积、政府法制宣传投入力度均对土地纠纷案件增加具有正向影响。研究结论：长江经济带土地纠纷正朝好的方向发展,但纠纷数量和标的依旧较大,其背后原因十分复杂,经济利益的驱动是土地纠纷的根本原因。应持续推动经济发展方式转变、农村集体产权制度改革,加大土地法制建设和解纷投入力度,建立土地纠纷多元预防调处综合机制。     

Deliberation,learning, and institutional change: the evolution of institutions in judicial settings

Institutional change entails institutional design, assessment, and modification, which necessarily take place within the constraints and opportunities afforded by existing institutional arrangements. Viktor Vanberg has made major contributions to our understanding of how institutions evolve. We wish to contribute to this symposium in honor of Vanberg by analyzing how institutions for the management of water institutions in Southern California evolved primarily through the use of the courts as settings for deliberation, learning and institutional change.

A study of benefits compensation mechanism for agricultural water rights trading under the restriction of ecological reconstruction: case study of Shiyang River basin

Agricultural water allocation system based on priority rights has caused regional conJtiets and downstream ecological degradation.It is the urgent need to introduce the concept of the initial water rights and establish benefits compensation mechanism to resolve such problems.This paper takes the Shivang River basin as an example to calculate the opportunity cost of 0.97×108m3 of agricultural water encroached by the middle reach based on initial water right allocation system under which water is allocated in accordance with the ratio between agricultural population of two different regions concerning the downstream ecological reconstruction needs with Bio-economic model (BEM).The results suggest that the total economic loss of Minqin County for ecological econstruction amounts to 2.57×108 yuan,of which 1.68×108 yuan is ecological compensation,representing the economic loss Minqin suffered for ecological reconstruction which should burden beneficial groups of eeological reconstruction and 0.89×108 yuan is the economic loss Minqin suffered due to Liangzhou's encroachment behavior which should be compensated by Liangzhou.     

国际金融专业项目教学的实践与探讨

项目教学法是当今国际教育界十分流行的一种教学法。项目教学以培养学生的职业综合能力为目的。将项目教学法引入高职国际金融专业的实践教学中,是对传统教学模式的尝试性改革,旨在促进学生实践能力和其他综合素质的提升,对高职人才培养具有创新意义,在高职实践性强的各类专业中具有应用推广价值。     

基于GIS空间分析法的黄河流域经济发展差异

文章利用GIS空间技术将黄河流域2005年的经济差异状况展示在专题地图中。GIS空间专题地图显示,黄河流域上、中、下游之间梯度差异明显;人均GDP空间分布显示,黄河流域经济空间呈现“点-轴-圈”的空间结构模式;分段来看,黄河流域经济空间开发现状主要呈现出一种核心-边缘式的圈层结构,整体上沿黄河河道由下游往上,发展程度呈现梯度推移的特征。     

甘肃农村地区节水型社会建设述评——以甘肃省武威市凉州区黄羊镇土塔村为例

在建设和谐社会的大背景下,对于农村地区,尤其是严重缺水的西北农村地区来说。节水型社会的建设是和谐社会建设的一个重要方面。通过对甘肃省武威市凉州区黄羊镇土塔村的实地调研,反映出近年来该村灌溉用水愈加紧迫,由于水资源紧张而引起的问题越来越多,不仅关系农作物的产量高低,也影响到农村生活秩序的安定。石羊河流域综合治理方针指导下实施的节水措施与世界上其他地区区域治理作比较,其成功经验对农村节水型社会建设的进一步改善具有借鉴作用。     

基于FDI的长江三角洲县域经济效应

县域经济是国民经济的重要组成部分,也是长江三角洲FDI集聚能力不断提升的重要载体。长江三角洲县域经济活力的大小与FDI集聚水平密切对应。剖析基于FDI的长江三角洲县域经济发展模式和县域经济效应,对于探索中国县域经济发展的内在规律,对于提高中国FDI的整体绩效都具有十分重要的意义。