地方公共债务与资本回报率——来自新口径债务数据和三重机制检验的经验证据

资本回报率对于理解我国经济运行具有重要意义。本文通过匹配2006-2015年地级市层面的新口径债务数据和资本回报率数据,实证检验了地方公共债务扩张对资本回报率的影响效应及其地区异质性表现,并从宏观、中观和微观三个角度开展作用机制分析。研究发现:第一,地方公共债务扩张对我国宏观资本回报率产生了负面影响,此影响在经过一系列稳健性检验后依然存在;第二,地方公共债务的扩张通过降低基础设施投资效率、提高房地产业投资占比和挤出企业投资产生影响;第三,上述负面影响在非城市群、非大中城市和土地融资依赖度更高的城市表现更为突出。以上结论为深化地方政府投融资体制改革提供了政策参考,未来应注重债务资金的绩效管理和使用效率,促进经济高质量发展。     

‘A‘ohe pau ke ‘ike ka hālau ho‘okahi [All knowledge is not taught in the same school]1 Welcoming Kānaka Hawai‘i Waves of Knowing and Revisiting Leisure

As we reflect on the leisure science canon, we use this occasion to ponder how our scholarship has engaged with communities with alternative worldviews compared with the Euro-North American worldview dominant in leisure scholarship. While some Indigenous cultural practices may, at first glance, seem similar to behaviors found in Euro-North American leisure space-time, such a comparison is often problematic when an Indigenous language has no equivalent concept or word for leisure and the worldview assumes a different relational reality. Drawing on our ongoing research working with Kanaka Hawai‘i, we offer a discussion of the relevance and need for Ieisure scholars and practitioners to engage with Indigenous worldviews, ways of knowing and being. We specifically focus on approaches and dispositions relevant to scholars and practitioners as we look to nourishing possibilities for richer relationships between Indigenous and non-Indigenous peoples through leisure.     

试论会计信息披露问题

本文从七个方面分析损害会计信息披露质量、造成会计信息不对称的原因。上市公司内部是产生虚假信息的源头,是治理的重点。     

农业统一税与农村税费改革

土地革命时期和抗日战争时期，中华苏维埃政府和抗日边区政府根据当时的农业情况和实际，为了增加财政收入，先后建立和完善了农业统一税，取得了良好的效果，积累了丰富的经验，对于我国正在进行的农村税费改革有极其重要的借鉴意义。由于此次改革的根本目的是要减轻农民负担，可以借鉴先前改革经验，进一步深化农村税费改革。     

A synthesis of alternative techniques for calculating the return on investment

In most financial management textbooks and courses, new investment projects are evaluated by comparing the return earned and the total capital invested, both debt and equity. In contrast, in the hospitality industry the return to just the equity capital is often used. This article shows that the two approaches, when properly calculated, will give the same accept or reject decision, but the return on equity calculation must be used with caution to avoid serious errors involving the use of debt. By understanding the two methods, hospitality financial managers will avoid confusion and make better investment decisions.     

第X方休闲：变迁、效应与竞争优势

主体休闲产业可分为第一方休闲、第二方休闲和第三方休闲。当休闲产业发展进入休闲创意阶段后，有效的休闲治理组织形式是有管理的休闲集聚区，它能带来“政府部门监管与支持”、“第二方休闲成长”和“休闲消费者偏好”三方面的效应。在此基础上，本文构建了一个基于效应的休闲集聚区竞争优势模型。     

论西方人权理论对当代大学生人生价值观的影响

西方人权理论是西方文化的重要内容，是积极与消极、进步与落后并存的人权理论，它对大学生人生价值观造成的负面影响日益凸显，要克服这一消极影响，需要高校多渠道、全方位地开展工作，增强大学生对西方人权理论的认知能力和免疫能力。     

厦门营运中心发展的战略研究

由于厦门资源有限,经济总量小,产业面临升级,为寻求持续发展提出要发展企业营运中心。本文从环境、资源和竞争分析厦门发展营运中心的情形,最后从发展定位、发展重点和发展思路提出厦门营运中心的发展战略和保障措施。     

经销商增值模式研究

随着中国经济的不断发展,生产者对终端市场的控制,大型连锁超市和大卖场的不断出现,以及电子商务模式的发展,经销商的地位和作用在进一步弱化。经销商要想改变目前在分销渠道中的地位和困境,要从各种环节创造出更多的价值,赢得生产者和终端客户的依赖和信任。为此,文章提出了经销商的增值服务模型,该模型指出了经销商提供给生产者和客户的几种价值来源,主要包括客户关系管理、物流管理、营销管理和信息咨询管理。     

Spatial patterns of leisure travel by trip purpose

This article reports the problems encountered and procedures developed to conduct a secondary analysis of the 1977 National Travel Survey. Using the travel regions developed by the Travel Industry Association of America, these procedures were applied in an analysis of the interregional distribution of leisure travel by trip purpose. The results indicate that differences in travel patterns exist among different leisure purposes; that the South and Great Lakers were the major attractor and generator, respectively, of leisure travel for all purposes; and that interaction existed across purposes betweent the New England and Eastern Gateway regions and between the Mountain West and Far West regions.