探究我国上市公司股利政策的实证研究——基于代理成本理论

采用多元回归的方法研究派现与上市公司三种不同代理成本之间的关系。实证发现,派现能降低股东与管理者的代理成本,正常现金股利发放只是大股东获取公共收益的一种手段,不能缓解大小股东之间的利益冲突,降低大股东的私有收益。     

AN APPLICATION OF SEQUENTIAL REGRESSION MULTIPLE IMPUTATION ON PANEL DATA

The relatively new sequential regression multiple imputation (SRMI) method is introduced, with the process of SRMI laid out in detail. The Project for Statistics on Living Standards and Development and the follow‐up KwaZulu‐Natal Income Dynamics Study provide the real panel data on which the methods reviewed are applied. The SRMI process is used to create multiple datasets completed with values imputed for data originally missing, and using the error component model estimation procedures and Rubin's rules, inferences on the panel data are made. Conclusions are drawn as to the applicability of the SRMI process to these data and as to the results of the regression analyses completed.     

Estimation of Public–Private Wage Differentials in Turkey with Sample Correction

The aim of this study is to determine how the change in the balance between public–private sector employments affected public and private earnings during the 1990s and 2000s in Turkey. We use the Oaxaca–Blinder and quantile decomposition methods to determine the wage gap between public and private sectors utilizing the 1994 Household Income Distribution and Consumption Expenditure Survey and the 2008 Household Budget Survey conducted by the Turkish Statistical Institute. The study determined that the primary difference in the average wages between sectors arises from the differences in the endowments without correction for gender. After adjusting for correction using quantile regression, we find that the difference in the endowments between sectors at lower quantiles explains the majority of the raw wage gap; whereas a substantial amount of the raw wage gap is explained by the sector effect at higher quantiles.     

Unconditional quantile regressions,wage growth and inequality in the Philippines, 2001–2006: the contribution of covariates

I implement a two-stage procedure to estimate the components of real wage change in the Philippines along the wage distribution from 2001 to 2006, as well as the contribution of individual covariates to each component. The methodology is based on Re-centred Influence Functions (RIF), as suggested by Firpo et al. (2009). The advantage of this methodology is that it not only decomposes the unconditional wage change at any quantile of the wage distribution, but also allows the characterization of the contribution of any single covariate on each component. I find that real earnings of males in the Philippines declined and the decline along the earnings distribution is generally higher at higher deciles for all males and higher at lower deciles in Manila. Decomposition results are driven by the wage structure component, while the composition effect is small and generally positive with education as the main contributor. Within the wage structure effect, the main determinants are associated with changes in the rewards of experience and occupation, along with residual change (change in intercepts).     

我国熟练、非熟练劳动替代弹性探究

根据Sato的二级三要素CES生产函数模型,应用Kmenta的直接估计法对二级CES函数展开进行岭回归估计。随后采用超越对数生产函数模型,进行岭回归估计。研究发现使用张军(2004)、单豪杰(2008)两种资本存量数据,二级三要素CES函数、Translog生产函数模型,替代弹性估计结果均显示我国熟练、非熟练劳动之间的替代弹性约为1。     

我国城市生活用水价格合理调整研究——以昆明市为例

以昆明市为例,结合城市水价、居民收入水平、水资源禀赋,运用对比分析法、双对数线性回归法、PASW相关分析法,探讨城市水价调整的主要影响因素,以及未来城市水价合理调整的可行性。1)2003年后各城市生活用水价格差异开始显现并逐年加大,城市水价构成机制正逐步趋于合理;2)城市水价的制定在考虑居民承受能力、人均可支配收入水平的同时,尤其应着重考虑水资源禀赋的影响;3)我国各城市生活水价仍有合理的上调空间,可以参考城市水价校核指标并结合城市的实际情况来确定城市水价。     

中国建筑业总产值的多元线性回归分析

在建筑业的企业类型视角下,从国有企业、集体企业、港澳台商投资企业、外商投资企业、其他等5个方面建立建筑业总产值影响因素多元线性回归模型,用2013年中国统计年鉴中2000—2012年建筑业总产值的数据对构建的线性回归模型加以可行性验证,结果显示建筑业总产值与参与建筑业的企业类型存在显著的多元线性回归关系。     

北京市中低龄老年人再就业现状及影响因素研究

老年人就业或再就业问题是影响老年人生活以及老龄工作的重要方面。老年人的就业受多方面因素的影响和制约,因此,在制定有关老年人就业政策时我们应当对这些因素加以考虑。文章运用北京市16个区的抽样调查数据,对中低龄老年人再就业影响因素开展研究,首先通过交叉表描述老年人再就业的基本特征,然后采用多变量Logistic回归检验各个因素的显著性。通过Logistic回归检验,发现在影响中低龄老年人再就业的诸因素中,年龄、性别、健康状况和是否有养老金等自身因素对就业意愿的影响是显著的,子女数量、受教育水平等因素对再就业的影响不显著。     

城镇低收入人群社会救助需求的微观影响因素研究——基于苏州、深圳调查数据的分析

采用多元阶层回归分析法,以社会救助需求为因变量,分别以影响社会救助需求的人口因素、生存因素和发展因素所包括的15个微观因素为自变量,运用1087份问卷调查数据,依次分组进入回归方程,得出各个微观因素对社会救助需求的影响力。研究发现影响城镇低收入人群社会救助需求的积极因素依次为：收入水平、养老投入、文化程度、月收入的储蓄比例、年龄、婚姻状况;消极因素依次为：性别、找新工作的难易程度、住房面积、职业性质、未来生活预期、家庭人口数、户籍类别、社会支持、支出水平。     

Shareholdings of Board Members and Corporate Performance: A Panel Quantile Regression Analysis

This paper investigates the impact of board member shareholdings on corporate performance in China and Taiwan, and employs unbalanced panel data over the period 2005–2009. In view of the inconsistent empirical findings in the literature and the limitations of least squares regressions, this study adopts a quantile regression method including fixed effects (FE) models. An important finding is that a significant, positive relationship exists between the shareholdings of board members and accounting measures of performance, and this relationship only exists for the more profitable firms in China, while a uniformly significant and positive relationship exists across all quantiles between the shareholdings of board members and accounting measures of performance in Taiwan. These findings, which cannot be obtained using a FE model, suggest that board members can influence firm performance through holding shares in most Taiwan firms and profitable Chinese firms.