多层次农村金融体系的构建研究

农村金融体系所面对的是利益明显处于劣势的农民、农业和农村经济,脆弱的金融体系不利于有效解决"三农"问题。为了满足日益增长的农村金融需求,分析了目前我国农村金融体系的现状,确定了我国农村金融体系服务"三农"的目标,在此基础上,探讨了如何创新金融服务形式,完善农村金融体系,建立一个多层次、能够提供多样化和差异化服务的多层次农村金融体系。     

Complexity of economic structures and emergent properties

This concept revolves around differences of embeddedness of organizations in the macro patterns of routines (economic policy regimes), which in turn may differentially provide them–and the system as a whole–with ‘procedural rationality’ in dealing with identified problems in their relevant complex environment. Regularities of interdependence are specified between different regime patterns and the variety of coordination routines between and inside micro organizations. Corresponding regularities are also observed for internal governance routines of organizations, which in turn determine the behavioral adaptation by self-organization that may be rationally in a local perspective, but–contingent on the organization’s embeddedness in the coordination structure–not necessarily so in a comprehensive one.

关于建立多层次社会保险体系的构想

国家进一步深化经济体制改革，解决人口老龄化的问题，企业迎接中国“入世”后的挑战等都需要我国尽快完善社会保障制度。完善社会保障制度，应建立一种以政府承办的社会保险为基础，行业或企业职工补充保险为辅助，商业保险为补充的多层次社会保险体系。     

贫困是否影响农村中老年人的精神健康——基于CHARLS数据的实证研究

农村老年人在经济上是最为弱势的群体,他们的贫困发生率远远高于城市老人。贫困不仅体现为物质上的剥夺,更会引起认知退化和抑郁等精神健康上的问题。文章使用中国健康与养老追踪调查数据,实证考察经济状况对农村中老年人精神健康的影响。多层线性模型估计结果表明：家庭人均年收入每提高一千元,反映认知状况的情景记忆显著提高0.132分、精神状态显著提高0.121分,而反映抑郁程度的CES-D则显著下降0.293分。进一步分析表明,收入对精神健康的促进作用对高收入者更大。考虑到农村更加严重的老龄化程度,通过减贫实现农村中老年人精神健康状况的改善将具有重要的现实意义。     

Estimation of a dynamic multi-level factor model with possible long-range dependence

A dynamic multi-level factor model with possible stochastic time trends is proposed. In the model, long-range dependence and short memory dynamics are allowed in global and local common factors as well as model innovations. Estimation of global and local common factors is performed on the prewhitened series, for which the prewhitening parameter is estimated semiparametrically from the cross-sectional and local average of the observable series. Employing canonical correlation analysis and a sequential least-squares algorithm on the prewhitened series, the resulting multi-level factor estimates have centered asymptotic normal distributions under certain rate conditions depending on the bandwidth and cross-section size. Asymptotic results for common components are also established. The selection of the number of global and local factors is discussed. The methodology is shown to lead to good small-sample performance via Monte Carlo simulations. The method is then applied to the Nord Pool electricity market for the analysis of price comovements among different regions within the power grid. The global factor is identified to be the system price, and fractional cointegration relationships are found between local prices and the system price, motivating a long-run equilibrium relationship. Two forecasting exercises are then discussed.     

From intention to action on sustainability reporting: The role of individual,organisational and institutional factors during war and post-war periods

This study examines the role of individual, organisational, and institutional factors in influencing the decision to engage in sustainability reporting (SR) and, how these factors change from war to post-war periods. Drawing on semi-structured interviews of Sri Lankan top and middle-level managers, the study finds that while individual and institutional factors play a role in SR, organisational factors predominate as both facilitators and inhibitors of SR in both war and post-war periods. This finding suggests the organisational level ultimately is the conduit of SR, although shaped by individuals and by institutional forces that come into confluence therein. The end of the civil war enabled the country to focus on economic and social development, a phase that witnessed the amplification of the role of organisational factors in SR. The social and economic impacts of the civil war manifested themselves contemporaneously and well after hostilities ceased; organisations experienced inflated expectations from government and communities, for example, through soldiers’ rehabilitation and infrastructure development. By employing a multi-level analysis, the study offers insights into the dynamic between individual, organisational, and institutional factors influencing SR, highlighting the merit of this research approach.     

A multi-level understanding of trust development in contexts of blurred organizational boundaries: the case of crowdfunding

Are trust development processes in settings of blurred organizational boundaries different from those in conventional organizational settings, and if so, how? Taking the crowdfunding campaigns of the Fin-Tech Monzo as examples of settings of blurred organizational boundaries, we analyze how the three main trust forms (individual, organizational, and institutional trust) emerge and interact in the campaigns’ online discourse and develop a process model that captures distinct trust development dynamics. We contribute to the trust literature by highlighting increased dynamics and co-existence of trust forms, and by showing that the validation of extra-organizational boundary spanners is crucial to compensate for a missing personal interaction in settings of blurred organizational boundaries. We also contribute to the crowdfunding literature and derive managerial implications.     

The impact of COVID-19 on the evolution of online retail: The pandemic as a window of opportunity

Pandemic-related shocks have induced an unexpected volatility into the evolution of online sales, making it difficult for retailers to cope with frequently occurring, drastic changes in demand. Relying on a socio-technical approach, the purpose of this paper is to (a) offer a deeper insight into the driving forces of online sales during the pandemic, and (b) investigate whether pandemic-related shocks accelerate the long-term growth of online retail. Novel, high-frequency data on GPS-based population mobility and government stringency is used to demonstrate how time spent in residential areas and governmental restrictions drive the monthly evolution of online sales in 23 countries. We deconstruct these effects into three main phases: lure-in, lock-in, and phase-out. Lastly, using time series analysis, we show that the pandemic has induced a level shift into the long-term growth trend of the online retail sector in the majority of countries investigated.