Regulatory Actions under Adjustment Costs and the Resolution of Scientific Uncertainty

Food system regulators often decide whether to ban existing practices or approve new technologies without conclusive scientific evidence on possible damage and knowing that resolution is likely in the future. In a model with three decision points and stochastic resolution of uncertainty, we study interactions between expected losses due to regulation and information availability when a regulator is deciding on an early reversible ban and on a later reversible ban. Adjustment costs create inertia concerning intermediate signals such that earlier decisions are not overturned, and also a bias against imposing an early ban. The prospect of more later-stage information can increase or decrease the incentive to ban early, but research decreases the incentive to ban early.     

Reactions to unjust dismissal and third-party dispute resolution: A justice framework

Little previous research has examined why dismissed workers view their discharge as unjust and how they respond to third-party dispute resolution interventions. This exploratory field study relied upon a justice framework to understand complainant motivations for filing unjust dismissal disputes and their reactions to a voluntary conciliation program. Analysis of archival and interview data suggested that procedural justice principles dominated both motivations for filing claims and reactions to third-party intervention. These findings were consistent with previous justice and labor relations research. Implications for future research, management practice, and third-party dispute resolution are discussed.     

互联网保险公司财务风险研究

互联网保险特殊经营模式使保险公司呈现固定资产占比较小、资产负债率较低、保险产品"场景化、碎片化"、渠道成本低廉等财务特征,也使保险公司面临更为错综复杂的财务风险,如对股东的权益性资金依赖性较强、定价风险加大、盈利空间不定以及骗赔套保和洗钱风险等.鉴此,应拓宽筹资渠道,优化保险产品定价,提高保费收入持续增长能力,降低运营和合作成本,构建第三方保单认证和风险评估体系,加强资金规范化管理,强化外部监管等.     

Security design,market risk and round quotes in the treasury bond market

Prior literature finds that the tendency of price-endings to cluster on rounder fractions increases with price volatility. We estimate the separate influences and relative importance of the determinants of price volatility, security design and market risks. Our data is from a market setting that is ideal for isolating and studying the relations of interest. Results for both quote and trade prices indicate that the tendency to use round price-endings increases with both a security’s inherent risk, attributable to security design, and variation over time in market risks. Security design influences clustering more than market risks, but market risks are influential in determining clustering once security design is fixed. The estimated effects are strongest in the on-the-run market segment where liquidity facilitates the aggregation of information into price.     

善治语境下群体性事件的预防和化解

群体性事件大多具有突发性特征,其发生的原因是多方面的。当前需借鉴善治治理理念与制度架构,实现治理主体多元化和公共利益最大化;还要政府、社会和公民互动融合,实行科学民主决策,畅通民意表达和利益诉求渠道,推进社区治理,强化社会整合功能,从根本上预防和化解群体性事件发生。     

Liberal economic nationalism,financial stability,and Commission leniency in Banking Union

This paper demonstrates that protection and promotion of insolvent banks remains a high priority for national authorities in Europe, and the Commission partially accommodates these impulses in the desire to preserve national financial stability. Insolvent banks are kept alive despite Banking Union rules on resolution designed to facilitate their closure at the cost of private investors. Italian and Portuguese cases demonstrate that pressure to relax state aid rules is strongest where problems are the greatest. However, the long-term trend is still an incremental decrease in national leeway to protect and promote national bank ownership.     

Banking union: the problem of untried systems

This article explores the problems the EU and the SRB face in trying to implement a credible system for resolving banks without the use of taxpayer funds as a key part of banking union that avoids the doom loop between indebted banks and indebted sovereigns. It finds that without clear examples of how the system works in practice it is very difficult to provide convincing evidence of what will happen given the large number of options for bailing in, the continuing predilection for bailing out in some states and the lack of fiscal backstop for general threats to financial stability.     

我国公共服务均等化的困境及其化解——基于现实约束条件的分析

社会转型、经济体制转轨、民主政治制度不完善、利益分化严重以及法治化程度低等是我国现阶段推进公共服务均等化必须面对的现实约束。多重约束条件不仅决定了我国公共服务均等化改革要解决的问题有多个方面,而且必然会遇到许多困境和阻力,它将是一个漫长的渐进过程。认清各种现实约束条件,对化解公共服务均等化推行过程中的困境和顺利实现公共服务均等化目标有着较强的现实意义。