风险投资环境的描述框架及我国风险投资环境分析

从影响风险投资环境的因素分析入手，依据给出的分析框架从科技与产业基础、技术与资本市场、基础性环境三个方面对我国风险投资环境状况进行了分析并提出了相关对策建议。从总体情况看，我国风险投资环境与发达国家相比虽然有一定差异，但快速发展风险投资的环境条件已基本具备。     

Stock return, risk, and legal environment around the world

This paper investigates how the legal environment in a country influences performance and risk of stock across countries at different developmental stages and of various rules of jurisdiction. Using data of 4916 stocks from 37 countries, our empirical findings confirm that equities in countries with English common law origin have higher risk premiums than those in civil law countries, particularly for countries of the French/Spanish code. The indicators representing high efficiency in law system, low corruption, strong legal protection of investors' rights, and reliable political environment are associated with low risk and high performance. The various elements of legal procedural formalism, however, have differing effects on volatility and return.     

城市人居环境定级方法研究

对我国开展的人居环境评价研究进行了回顾,提出对城市内部人居环境进行定级的思想:将人居环境进行评级,体现人居环境空间差异,让人居环境级别落实到具体的街道和小区,从基层做好人居环境建设工作.对人居环境定级方法进行了探索,提出城市人居环境定级原则,然后根据城市特点建立城市人居环境定级指标体系及权重.在此基础上,经过因素分值计算、定级单元划分、单元因素分值及其总分值计算对人居环境进行初步定级.最后通过意见征询和实地校核,确定最终定级结果.     

我国东中西部三地区环境与经济系统发展的协调度研究

区域环境与经济系统发展的协调度研究,具有高度复杂性、不确定性、多层次性等特点,难以量化,近年来已成为理论和应用研究的热点问题.在总结现有研究成果的基础上,构建了环境与经济协调发展评价指标体系,并根据相关数量模型对我国东部、中部、西部三大地区的环境与经济发展协调度进行了综合度量,以期为区域经济可持续发展状况的时空比较和有关政策的实施提供科学的依据.     

Overseas Impacts of China's Outward Direct Investment

China's outward direct investment (ODI) has grown rapidly since 2004. But along with such phenomenal growth is a mixed feeling toward Chinese investments in host countries. This article explores some overseas impacts of Chinese ODI based on an analysis of China's policy environment and investment patterns. We argue that what Chinese investors bring to host economies includes (i) massive job creation, but limited technology transfers to the local economy; (ii) ample capital as well as entry into the Chinese market; and (iii) damage from corporate social misbehavior. However, we suspect that these overseas impacts may be transitory as three dynamics, increased conflicts, accelerated learning and China's domestic structural changes, are simultaneously set in motion.     

宁夏跨越式发展与生态环境保护的互动研究

跨越式发展绝不是以牺牲生态环境为代价,满足于一时的所谓＂发展＂,而是通过科学技术的发明和不断创新,不断转变经济增长方式,探索新型工业化发展道路,构建环境友好型、资源节约型发展平台。宁夏跨越式发展的实现必须紧紧依托循环经济的理论和实践,形成人与自然、人与社会和谐,这样的跨越式发展才是可持续的。     

甘南黄河重要水源补给生态功能区生态环境问题成因分析及改善对策

甘南黄河重要水源补给生态功能区地处青藏高原东北边缘,是内地通向藏区的门户。保护与建设这一区域的生态环境,不仅对黄河中下游地区广大人民群众的生产生活、维护国家生态安全具有重要意义,而且对加强民族团结、维护祖国统一,促进各民族的共同发展具有重要意义,文中分析了甘南黄河重要水源补给区生态环境问题,提出了改善对策。     

营商环境优化能够提升全球价值链分工地位吗*

本文基于世界银行发布的历年营商环境报告相关数据,从OECD ICIO提供的基础数据测算结果的基本事实出发,理论阐释了营商环境对攀升全球价值链的影响及可能机制。以此为理论先导,进一步利用跨国面板数据的计量检验发现：第一,营商环境优化的确对价值链分工地位具有显著正向作用;第二,上述正向作用不仅来自营商环境优化直接效应,而且还通过价值链迁移、创新活动激发、贸易条件改善等中介作用形成间接效应。据此,打造国际一流营商环境对促进中国攀升全球价值链具有重要支撑作用。     

Information Complementarities and the Dynamics of Transparency Shock Spillovers

We show that information complementarities play an important role in the spillover of transparency shocks. We exploit the revelation of financial misconduct by S&P 500 firms, and in a “Stacked Difference-in-Differences” design, find that the implied cost of capital increases for “close” industry peers of the fraudulent firms relative to “distant” industry peers. The spillover effect is particularly strong when the close peers and the fraudulent firm share common analyst coverage and common institutional ownership, which have been shown to be powerful proxies for fundamental linkages and information complementarities. We provide evidence that increase in the cost of capital of peer firms is due, at least in part, to “beta shocks.” Disclosure by close peers—especially those with co-coverage and co-ownership links—also increases following fraud revelation. Although disclosure remains high in the following years, the cost of equity starts to decrease.     

审计理论结构逻辑起点的研究

审计理论研究起点是审计理论的逻辑起点。到目前为止,审计理论的逻辑起点还没有形成一致的定论,不同的研究学者存在着不同种观点。本文根据逻辑起点的内涵,对各个观点进行分析和总结,最后得到的结论是:把审计环境作为审计理论研究的逻辑起点,这具有优势和说服力。