基于调控方向差异的货币政策区域效应研究

实证研究结论表明:我国货币政策的作用真实表现为正向或负向货币供给冲击;正向或负向货币供给冲击对我国东部地区、东北地区、西部地区和中部地区的影响是不一样的,即存在紧缩性与扩张性货币政策区域效应;我国货币供给冲击是东部地区、东北地区和西部地区经济增长率的Granger原因,不是中部地区经济增长率的Granger原因;我国紧缩性与扩张性货币政策区域效应主要是与不同地区金融机构分布和货币政策传导渠道的不同有关。     

股权结构和公司绩效的联立实证研究

关于股权结构与公司绩效的研究,传统方法主要以不考虑内生性的OLS实证研究为主,近年来国内学者才逐渐运用联立方程模型研究内生性下的股权结构与公司绩效关系。股权结构具有内生性,但无论考虑内生性与否,股权集中度、股权制衡度与公司绩效之间都呈显著正向线性关系;与股权制衡度相比,股权集中度对公司绩效的影响更加显著。今后应进一步完善外部监督等公司治理机制,发挥外部股东的股权制衡作用,进而减少大股东侵害行为,提高公司价值。     

Educating limited resource older adults for better choices to lower risk of food insecurity

United States (U.S.) national and North Carolina state data on older adult food insecurity in combination with associated poor nutrition‐related health outcomes point to a critical need for interventions to improve their food security. Nearly 8% of North Carolinians aged 60 and older and 11% of those aged 50–59 are food insecure, placing North Carolina in the top ten states in the U.S. for food insecurity for both age groups. Therefore, the Better Choices intervention was designed to educate limited‐income older adults in ways to manage their meager resources to purchase more and healthier foods. The purpose of this study was to determine the effectiveness of the Better Choices intervention in improving the knowledge, attitude, and behavior of participants concerning their food money resource management. Older adults (n = 453) with ages ranging from 59 to over 90 years participated in 8 weeks of educational programming delivered by educators in 15 participating North Carolina counties. In a cross‐over program design participating counties were randomly assigned to two groups, to create a control for the food money resource management treatment. A three‐points‐in‐time survey supported longitudinal measurement. Independent samples t‐tests showed no significant differences between groups at baseline. Paired sample t‐test results show the intervention was effective with statistically significant improvement of participants' knowledge regarding preparing a healthy meal on a budget, beans as a low‐cost alternative to meat, and the use of unit pricing to compare products to identify the best value. Participant‐developed action plans reflected planned behavior change. Study results show this group of older adults were capable of and willing to adopt new behaviors for a healthier lifestyle. While not a representative sample, the broad applicability of adult learning and planned behavior theories underpinning the program lead us to conclude that the methods and theories applied in this intervention should be of use to educators and practitioners serving limited‐resource older adult populations.     

Developing a better understanding of the complexities of visitor loyalty to Karijini National Park,Western Australia

Visitor loyalty is essential for the future of parks; however our knowledge of it is poor and confounded by conceptualisation and measurement issues with loyalty often considered a single construct. Furthermore, previous research has focussed on loyalty to a single destination rather than loyalty to a park system. This paper analyses the loyalty intentions of visitors to Karijini National Park, Western Australia. Relationships between loyalty measures to this park and to parks generally are explored. Rather than a single construct, loyalty was evidenced by three dimensions within an increasing hierarchy of effort – a) visiting another park, b) referring and recommending, and c) advocating, paying, volunteering, and visiting again. Visitors who wanted access to friendly, helpful rangers were more likely to undertake loyalty behaviours requiring greater effort. Further refining loyalty's multiple dimensions is an important focus for future research complemented by recent efforts to match loyalty measures with actual visiting behaviour.     

P-Star模型与通货膨胀压力测量

估计通货膨胀压力的常用方法是运用实际产出与潜在产出之间的缺口同价格变化率之间的关系来进行的,这种方法在国内已经很好地得到了应用,国内也有学者运用货币流通速度与其趋势值之间的偏移率来测算通货膨胀压力,但20世纪90年代以来在国际上得到较为广泛应用的P-Star模型国内还没有尝试。对中国数据的实证分析表明,运用P-Star方程来估算通货膨胀压力的变化,可以为国家价格总水平的调控提供参考。     

中国货币供应、通货膨胀及经济增长关系实证研究

采用协整与方差分解的方法时中国货币供应、通货膨胀与经济增长的关系进行实证研究发现,通货膨胀与经济增长在短期和长期中作用关系相反,但都具有回归自然水平趋势,货币供应时通货膨胀和经济增长的影响具有滞后效应,长期内货币非中性。而通货膨胀和经济增长并不影响货币供应。一方面。应当采取措施降低货币供应增长率：另一方面,偏紧货币政策的滞后效应可能导致经济紧缩应当采取措施降低货币供应增长率,因此应谨慎调控宏观经济政策,以避免金融风险。     

中国建筑企业核心竞争力战略与自主创新研究

目前我国理论界和企业界对于企业核心能力和可持续发展问题非常关注,但对于具体行业的实证分析尚显不足。首先分析我国建筑企业目前的优势及存在的问题,在此基础上结合中国企业核心竞争力的显著特征提出集约化模式是形成与提升核心竞争力的关键;然后,对中国建筑企业的实证数据进行分析,提出培育和提高核心竞争力的战略,并提出自主创新是提升我国建筑企业核心竞争力的重要途径。     

2011年3季度银行问市场运行报告

2011年3季度，银行间市场平稳运行，主要特点是：资金面前紧后松，货币市场利率先扬后抑、震荡下行；银行间国债收益率曲线先升后降；人民币对美元汇率升值步伐加快，季末成交价格显著偏离中间价；利率互换成交量创新高；外汇掉期短期限融资功能更为明显，中长期限掉期点持续上行显示人民币升值预期减弱。     

Hot Money and Business Cycle Volatility： Evidence from China

This paper investigates the link between hot money and business cycle volatility in China from January 1997 to December 2009. Using the structural vector error correction model we find a considerable degree of long-run cointegration and bidirectional causality effects between hot money and business cycle volatility. The speculative shocks are found to temporarily promote China＇s economic growth, but also to exacerbate business cycle volatility. The liquidity shock stemming from hot money is shown to be the primary factor responsible for the significantly enhanced fluctuation in business cycles during the most recent global financial crisis period This could be detrimental to the smooth operation of financial markets. Therefore, informing future policies, it is critical for policy-makers to take precautions against the speculative factors.     

The value and security of money. Metallic and fiduciary media in Ferdinando Galiani's Della moneta

This paper proposes a new interpretative framework for Galiani's monetary theory. The main argument is that, by adopting “the methodology of successive approximations” (correctly attributed to him by Luigi Einaudi), Galiani investigated the theoretical foundations of the two archetypal moneys: metallic money and paper money. On these foundations, he developed the model of a complex monetary economy based on the coexistence of a metallic and a fiduciary circulation. The paper also illustrates how the experience of the “public banks” of Naples inspired his analysis, thus shedding new light on the theoretical and institutional richness of his monetary thought.