基于人口规模和城市化水平测算的城乡建设用地需求预测研究——以辽东凤城市为例

以辽宁东部凤城市为研究区域,采用1997年至2005年凤城市的人口、经济等统计数据,从作为土地需求预测基础的社会化发展水平预测入手,利用不同的预测模型对凤城市的人口规模、城镇化水平进行预测,并通过对比各预测模型的测算数据,提出科学方案并做最优选择,最终得出适宜凤城市发展的测算数据,以此为依据预测城乡建设用地需求量,为凤城市城乡建设用地合理发展及新一轮的土地利用总体规划修编提供数据支撑和理论依据。     

Frequency and aircraft size dynamics in a concentrated growth market: The case of the Chinese domestic market

Despite the explosive growth of the Chinese aviation sector and the major industry reforms undertaken in recent decades, the Chinese domestic market remains highly concentrated with a significant element of regulation and governmental control in areas such as market entry and airline fleet planning. In this study, we investigate the frequency strategies and aircraft choices of airlines operating in this concentrated growth market. Our empirical investigation suggests that airlines mainly accommodate rapid traffic growth by flying more frequently, although increased aircraft size also contributes to market expansion. We also find a negative relationship between market concentration and flight frequency. Due to the more balanced market structure resulting from mergers among leading airlines since 2002, there has been a moderate reduction in market concentration at route level, contributing to a 3.7% increase in traffic volume from 2002 to 2008. The results of our study suggest that Chinese travelers have yet to fully enjoy the benefits of market liberalization, and airports should prioritize increasing capacity related to aircraft movements over the accommodation of larger aircraft.     

Asymmetric rivalry between strategic groups: response,speed of response and ex ante vs. ex post competitive interaction in the spanish bank deposit market

The objective of this study is to examine asymmetric rivalry between strategic groups in a given industry. Two research hypotheses argue for the existence of asymmetric rivalry in the sense that strategic groups of small companies have a greater degree of response but a slower speed of response to the actions of strategic groups of large companies, than vice versa. To test this, we use an ex post approach that examines the news releases published on the strategic actions and reactions of firms. A third hypothesis compares ex ante competitive expectations with ex post asymmetric rivalry between strategic groups. To test this, we compare ex post news on actions/reactions with an ex ante approach that estimates conjectural variations. The empirical application carried out on bank deposits in the Spanish market defines strategic groups in terms of size due to the historical and institutional conditions of the industry (deregulatory change). The results obtained show that rivalry patterns between strategic groups in terms of company size can be predicted as asymmetric in the sense that smaller bank strategic groups have a greater degree of response (Stackelberg ‘leader–follower’ competitive interaction), and a slower speed of response to the actions of larger bank strategic groups than is found the other way around. Moreover, ex ante expectations of aggressiveness on the part of larger strategic groups characterize greater ex post reactions from the smaller‐size strategic groups. Therefore, the size distribution of strategic groups is valuable to research on complex industries with deregulation changes. Copyright © 2005 John Wiley & Sons, Ltd.     

The effect of stock splits on clientele: Is tick size relevant?

We explore whether the relation between stock splits and clientele is driven by binding tick sizes. We find little evidence that firms adjusted prices to maintain similarly binding tick sizes as the NYSE reduced tick sizes. Furthermore, though splits that increase the extent to which tick sizes are binding are associated with greater increases in spreads, these splits experience similar changes in measures related to clientele, including trade size, breadth of individual and institutional ownership, and analyst following. We find little evidence supporting theories, such as spread-induced sponsorship, that rely on binding tick sizes to link splits and clientele.     

Impact of landing fees on airlines’ choice of aircraft size and service frequency in duopoly markets

A one-shot simultaneous game-theoretic model is applied in a duopoly market to investigate how airport landing fees could influence airlines’ decisions on aircraft size and service frequency. It is found that higher landing fees will force airlines to use larger aircraft and less frequency, with higher load factor for the same number of passengers. It is also found that airlines will be better off if some of the extra landing fees are returned to airlines as a bonus for airlines using larger aircraft, which consequently reduces airport congestion.     

Firm Size Distribution and Growth*

Abstract Empirical documentation of the sectoral distribution of firm size for a set of European countries reveals substantial differences. We study the relationship between productivity growth at the industry level and size structure. A positive and robust relation is found between average firm size and growth. We ask why size should matter for growth by considering the role of innovation to construct a test based on the differential effect of size on growth according to various indicators of R&D intensity. Our results indicate that larger size fosters productivity growth because it allows firms to take advantage of all the increasing returns associated with R&D. We argue that our test can be interpreted as a test of reverse causality, which lends support to the view that firm size has a causal impact on growth.     

RISK, SEASONALITY AND THE ASYMMETRIC BEHAVIOUR OF STOCK RETURNS

For some time there has been a puzzle surrounding the seasonal behaviour of stock returns. This paper demonstrates that there is an asymmetric relationship between systematic risk and return across the different months of the year for both large and small firms. In the case of both large and small firms systematic risk appears to be priced in only two months of the year, January and April. During the other months no persistent relationship between systematic risk and return appears to exist. The paper also shows that when systematic risk is priced, the size of the systematic risk premium is higher for large firms than for small firms and varies significantly across the months of the year.     

Sectoral Differences in Plant Start-up Size in the Finnish Economy

New knowledge on the factors behind the choice of plant entry scale is important for understanding the entry process and the recruitment decisions of new plants in different sectors of the economy. The purpose of this paper is to evaluate the effect of various industry attributes on plant start-up size, measured with employment, using data on the entire Finnish business sector. The paper extends previous research by examining the differences between manufacturing and services and by using a richer set of explanatory variables. The relative importance of the covariates for different-sized entrants is taken into account by using a quantile regression approach. The results for manufacturing and services are remarkably similar. However, the findings imply that in the future analysis it is also important to consider the effect of the regional availability of educated and experienced work force on plant start-up size in these two sectors. The findings on the importance of scale economies and industry turbulence in determining start-up size correspond to the earlier studies. The results also show that single plant and multiplant entrants face a rather different entry environment. In addition, the employment share of foreign-owned entrants in the industry has to be taken into account.     

Overreaction after Controlling for Size and Book-to-Market Effects and its Mimicking Portfolio in Japan

In this paper we observe that firm size (SZ) and book-to-market (BM) cannot fully explain stock returns on prior-return- (PR-) based portfolios in the Japanese stock market. The overreaction effect after controlling for the SZ and BM effects is significant and persistent, and accounts for a large part of the zero-investment returns on the loser to the winner. We therefore propose a new mimicking portfolio whose returns mimic the common factor in returns related to overreaction. Our evidence shows that the proposed four-factor model captures common variation in returns on portfolios, based on stocks SZ, BM, and PR, better than the well-known three-factor model does.     

Bank size, market concentration, and bank earnings volatility in the US

We examine whether bank earnings volatility depends on bank size and the degree of concentration in the banking sector. Using quarterly data for non-investment banks in the United States for the period 2004Q1-2009Q4 and controlling for the quality of management, leverage, and diversification, we find that bank size reduces return volatility. The negative impact of bank size on bank earnings volatility decreases (in absolute terms) with market concentration. We also find that larger banks located in concentrated markets have experienced higher volatility during the recent financial crisis.