企业社会责任对财务绩效影响研究——基于中国上市公司的经验证据

在披露意愿、股权性质、经济周期调节变量的基础上研究企业社会责任对财务绩效的影响,考虑企业社会责任的时间滞后效应,加入滞后一期的CSR研究对财务绩效的影响。实证结果表明：当期企业社会责任与当期财务绩效呈正相关但不显著,滞后一期的企业社会责任显著正向影响当期财务绩效;当期企业社会责任与披露意愿、经济周期的交互作用表明,相对于经济繁荣期,在经济收缩期企业当期自愿披露企业社会责任报告会更显著提高当期财务绩效;当期企业社会责任与股权性质的交互作用表明相对于非国有企业,国企当期承担企业社会责任会显著提高当期财务绩效;滞后一期的企业社会责任与股权性质、经济周期的交互作用表明在经济收缩期,国有企业上一年履行企业社会责任会显著降低当期财务绩效。     

美国金融危机压力的来源及其对中国防范金融风险的启示——基于MIMIC模型的实证分析

党的十九大报告指出：“要坚决打好防范化解重大风险攻坚战,其关键又是防范金融风险,包括防范中国系统性金融风险的发生和抵御国际性金融危机传导所带来的外部冲击。”2007年由美国次贷危机演变成的全球性金融危机,至今还在持续影响着部分国家的经济和金融发展。2015年底开始的美国第六轮加息周期和2018年3月中美贸易战的爆发,使得中国的经济发展面临更大的机遇和挑战。本文以次贷危机为背景,基于MIMIC模型对2005—2016年的美国金融危机压力进行了测度,找到压力的来源为外汇储备增长率、出口增长率和实际有效汇率高估三个方面,进而分析其产生的根本原因,最后从三方面提出中国防范化解重大风险的对策和启示。     

创业机会理论回顾与客观性假定

本研究通过回顾相关创业机会理论,包括Schumpeter的观点、Kirzner的观点、Sarasvathy机会识别观点、Shane等人提出的机会发现观点、Venkatraman提出机会创造的观点;对创业机会理论进行评述,得出了相关结论：创业机会研究观点都认同创业机会是创业研究的核心要素,创业研究应该以＂机会＂为线索展开;创业机会是潜在的;都认同机会是一个过程,是一个持续的、动态的、系统的过程。对创业机会现有理论的共性和差异性进行了归类,并在此基础上,得出了创业机会的若干客观性假定,包括：创业机会是认识的主体关于创业行为和过程的认识活动发展到一定阶段的产物、创业机会与其他创业要素存在关联性,并有其内在的交互作用的过程和规律、创业者个体之间存在认识上（也有人说是经验上）而非完全意义上的内在性差异,不存在一般的企业家个性特征;通过创业教育可以培养创业者的技能。创业机会认识（或认知）的信息并不完备,而且是非随机分布的等。     

On dividends in the phase–type dual risk model

The dual risk model assumes that the surplus of a company decreases at a constant rate over time, and grows by means of upward jumps which occur at random times with random sizes. In the present work, we study the dual risk renewal model when the waiting times are phase-type distributed. Using the roots of the fundamental and the generalized Lundberg’s equations, we get expressions for the ruin probability and the Laplace transform of the time of ruin for an arbitrary single gain distribution. Then, we address the calculation of expected discounted future dividends particularly when the individual common gains follow a phase-type distribution. We further show that the optimal dividend barrier does not depend on the initial reserve. As far as the roots of the Lundberg equations and the time of ruin are concerned, we address the existing formulae in the corresponding Sparre-Andersen insurance risk model for the first hitting time, and we generalize them to cover also the situations where we have multiple roots. We do that working a new approach and technique, approach we also use for working the dividends, unlike others, it can be also applied for every situation.     

Semi-parametric discrete choice measures of willingness to pay

A semi-parametric discrete choice method is proposed to recover welfare measures from individual choice data. The proposed method is compared with the traditional binary choice models in an application to measure benefits of recreation trips.     

家电下乡的实施效果与政策完善

根据2009年中、2010年初和2010年中对全国246村3 656农户的3次调查与回访资料,对家电下乡政策实施情况进行分析,结果表明：家电下乡政策的惠农效应初步显现,农户购买下乡家电的数量大幅增加,消费结构也有所改善;同时,补贴兑付程序相比以前更加简易,农户对家电下乡政策评价高;但下乡家电质量等问题也逐渐在增多,农户对家电下乡政策的满意度和对下乡产品的信任度有所下降。为进一步实施好家电下乡政策,还需加大政策宣传力度,调整下乡产品结构,保证产品质量,完善相关政策和农村基础设施。     

Willingness to pay and pricing for broadband across the rural/urban divide in Canada

Efforts to close the rural/urban digital divide in Canada have reached new heights in the wake of the ongoing COVID-19 pandemic and “stay-at-home” policies. Yet the extent to which the rural/urban digital divide extends to pricing and demand for broadband services is not well understood. Using a dataset of more than 4700 residential survey responses from southern Ontario, Canada, we assess the disparity in pricing and willingness to pay for broadband across rural and urban households. Our results suggest that rural users face higher installation and monthly fees while receiving a significantly inferior quality of service than their urban counterparts. Demand among rural users for improved broadband access is also higher than for urban users. These results may strengthen the business case for expanding broadband services into rural areas and/or supporting justification for public subsidization. Our analysis also suggests higher economic net benefits from prioritizing majority access at current federal service objectives rather than investing in a small number of users to receive higher quality broadband.     

A survey of sales management practices

When ascertaining what sales management tools and practices to use, one approach would be for sales managers to compare the tools and practices they are presently using (or contemplating) with those used in other firms. This article provides sales managers with the opportunity for such a comparison by presenting the results of a study that examined what tools and practices sales managers are currently employing.     

论毕业设计指导工作对高职学生就业的价值体现

高职学生进行毕业设计的主要目的是培养学生综合运用所学知识和专业技能,理论联系实际,解决实际问题的能力,使学生在校期间能进行从事相关专业工作的基本训练,为今后就业或创业做前期准备,提高就业能力。文章主要是阐述关于对机电控制类专业学生毕业设计进行指导工作应朝着实用技术方向定位才能体现毕业设计课程价值的问题:如课题的选择、方案的确立、设计的内容等都应以提高就业能力为目标。     

Exploring professionals' motivation to lead: a cross-level study in the healthcare sector

The extant leadership research has paid increasing attention to the concept of motivation to lead (MTL) as an individual construct that strongly affects leadership processes and behaviors. However, despite its importance, scant knowledge is available about how individual characteristics and organizational structural features interact in influencing MTL in professional-based organizations. This article contributes to this line of research by adopting a multilevel perspective to study the MTL among individual professionals in the healthcare sector. We collected data from a sample of 791 physicians nested in 44 departments belonging to 27 hospitals. Using the hierarchical linear model, we tested the impact of individual and organizational variables on the motivation of physicians to engage in managerial positions. Our findings demonstrate that the physicians' MTL was positively associated with their individual self-efficacy. Departmental decentralization interacted with this self-efficacy, such that the effect of self-efficacy on the MTL was significantly lower when decentralization was high. We discuss the implications of these findings for human resource management and organizational (re)design within professional organizations.