Rural traffic management: The Burrator Reservoir experiment

The introduction of traffic management schemes has been one response of the National Parks to the problem of ever-increasing car-borne visitors and the consequent damage caused to the rural environment. By reviewing these schemes and by determining and explaining attitudes towards one particular traffic management experiment, the paper aims to deduce lessons for future policy. The analysis, based on two visitor surveys, suggests that the likelihood of success is improved when schemes are integrated, containing both ‘carrot’ and ‘stick’ elements. Since public perceptions are also found to be pivotal to its success, appropriate marketing of a scheme is vital. The paper concludes, however, that to achieve the fundamental objective of greater accessibility with less mobility, a more wide-ranging marketing effort is required intended to engender a sea change in attitude towards both the car and public transport.     

The approximation capabilities of the minflex-Laurents,translog, and generalized Leontief forms

This paper compares the approximation capabilities of the minflex-Laurents translog and minflex generalized Leontief cost functions with their translog and generalized Leontief counterparts in Monte Carlo experiments. The minflex Laurent specifications generally provided closer approximations to underlying technical and economic parameters. Imposition of nonlinear restrictions on some of the parameters of the minflex Laurent models yielded measurable improvement in estimated elasticities of substitutions, returns to scale, and rates of technical change.The refereeing process of this paper was handled through E. Appelbaum.     

Beyond Single-Factor Affine Term Structure Models

This article proposes a new approach to testing for the hypothesisof a single priced risk factor driving the term structure ofinterest rates. The method does not rely on any parametric specificationof the state variable dynamics or the market price of risk.It simply exploits the constraint imposed by the no-arbitragecondition on instantaneous expected bond returns. In order toachieve our goal, we develop a Kolmogorov-Smirnov test and applyit to data on Treasury bills and bonds for both the United Statesand Spain. We find that the single risk factor hypothesis cannotbe rejected for either dataset.     

对纳税筹划问题的理性思考

纳税筹划近年来日益受到人们的关注,但国内研究多侧重于筹划策略和方法。本文试图从理论上对纳税筹划的必然性、可能性及其经济和社会效应进行较深入的探讨,完善纳税筹划的指导思想,纠正对其错误的认识。     

A NOTE ON ARBITRAGE AND CLOSED CONVEX CONES

We give an example of a subspace K of     such that     , where     denotes the closure with respect to convergence in probablity. On the other hand, the cone   C ≔ K − L ^∞₊  is dense in   L ^∞  with respect to the weak-star topology  σ( L ^∞, L ¹)  . This example answers a question raised by I. Evstigneev. The topic is motivated by the relation of the notion of no arbitrage and the existence of martingale measures in Mathematical Finance.     

对西部特色农业结构调整的思考

西部开发战略的重要内容之一,就是开发西部特色农业,而开发西部特色农业首先要搞好农业结构调整.农业结构调整的内容有:农产品品种结构、农业生产内部结构、农产品加工转化增值和食粮主产区域结构的调整.农业结构调整也要注意一些问题,趋利避害,从实际出发,因地因时制宜,把握全局,平稳进行.     

董事利益保护刍议

董事会中心主义的确立，董事义务与责任体系的完备，使得对董事利益的保护成为公司经营管理效率提高的必要前提。如何建立符合中国实际的董事利益保护机制是摆在法学研究者面前一个紧迫而重要的课题。     

银行保函在业主反索赔中重要作用的探讨

我国建筑业目前正处于加入WTO后的3～5年的过渡期，国内建筑市场国际化的趋势使工程索赔问题必须与国际惯例接轨，从国际工程惯例出发，详细论述了银行保函的种类及其在业主反索赔过程中的重要作用，为业主提供了一种可以借鉴的工程项目管理方式。     

论中小企业对管理胜任力的基本要求和培育途径

文章指出,管理胜任力是企业核心竞争能力的一个重要方面,中小企业的健康成长取决于其竞争能力的提高,竞争能力的关键是提高企业的管理胜任力,文章还分析了中小企业对管理胜任力要求的主要方面。     

Lead markets, innovation differentials and growth

This article suggests that the specialization of countries in international trade is determined by the lead-lag market pattern of national markets. Many internationally successful innovations have been adopted first in one country while other countries initially either preferred other designs or an established product. A model for the international diffusion of innovations is presented in which nationally preferred innovation designs compete to become a globally dominant design. In this model, there are country-specific market attributes that increase the likelihood that the choice a country makes among alternative technologies is followed around the world. It is argued that technological knowledge gaps are not the origin of an international competitive advantage. Instead, a country gains a competitive advantage because a specific innovation design was adopted earlier than in any other country. This gives local firms a head start in producing, gathering marketing intelligence and securing the property rights of a globally successful innovation. In countries with lag market characteristics, domestic innovations are less likely to get adopted worldwide. Lag markets often switch from a domestic innovation design to a foreign innovation design, which increases imports. The lead-lag market explanation of trade specialization has implications for national policies. In this model domestic innovations do not always foster exports; idiosyncratic innovations induced by lag market contexts can hamper the export chances of local firms and in the end lead to an increase in imports. It is suggested that in order to increase exports, national policies have to distinguish between a domestic lead and lag market context in each industry. While in a lead market context, traditional policy instruments that enhance the rate of innovations are effective, in a lag market situation national follower strategies are more appropriate.