我国商业银行中小企业信贷风险评估体系的构建

开展中小企业贷款业务是商业银行优化信贷资产结构的重要措施,快速、准确评估其信贷风险是商业银行亟须解决的技术问题.经过长期实地调研,本文建立了适用于我国的中小企业信贷风险评估体系,其中,所建非财务指标体系,从行业环境、企业经营管理水平、经营者经验与素质、信用品质四方面进行评估;财务指标体系包括现金流流动负债比、净资产总资产比、息税前利润流动负债比、总资产周转速度、流动比率、现金流贷款比六个指标.以Logit统计回归模型为基础建立的评估模型,在分别评估非财务指标信息和财务指标信息后,加权相加两方面结果得到综合评估结果.实证检验证明,该评估体系的评估正确率达到95%以上.     

人民币均衡汇率错位对进出口的影响——基于协整理论和二元选择模型的实证分析

本文基于协整理论,运用单位根检验、二步法、误差修正模型和二元选择Probit和Logit模型,对人民币均衡汇率错位对进、出口的影响进行了实证分析。本文的创新之处：在模型中引入了反映我国“二元经济结构”特征的三个控制变量——工农业对GDP的贡献度之差,城乡居民家庭恩格尔系数之差,第一产业和第二产业人口构成之差参与回归检验,显著性很强,使得模型更可信和稳定。结论表明：人民币均衡汇率错位对进、出口均有不同程度的负面影响,对进口的负面影响稍大于出口;人民币均衡汇率错位对进口向长期均衡水平的调整比出口更加有利;人民币均衡汇率高估错位幅度越大,越有利于进口;低估错位幅度越大,越有利于出口。     

产权稳定性对农户农田基本建设投资行为的影响

研究目的:从产权稳定性的角度研究其对农户农田基本建设投资行为的影响。研究方法:基于全国8省地块层面的调查数据进行计量经济分析。研究结果:产权稳定性对农户农田基本建设投资行为有显著影响,产权稳定性越低,农户进行农田基本建设投资行为的可能性越小。Logit模型估计结果显示,与没有使用凭证的地块相比,农户在有使用凭证的地块上进行农田基本建设投资的概率将提高2.54个百分点;村级农地调整每增加1次,农户进行农田基本建设投资的概率将下降1.70个百分点。这是因为,地块缺少使用凭证和农地的频繁调整提高了农地政策变化的不可预期性,导致农地产权在法律和事实上变得不稳定,进而抑制农户对农田进行基本建设投资。研究结论:为提高农户农田进行基本建设投资的积极性,应确保农地确权政策落实,深化农地产权制度改革,提高农民产权主观认知,全面增强农地产权稳定性。     

Influences of consumer characteristics on fairness perceptions of revenue management pricing in the hotel industry

Fairness perceptions play an important role in customers’ behavior, and this study explores which consumer characteristics influence fairness perceptions of revenue management (RM) pricing in the hotel context. To examine such differentiating characteristics, the study conducts a logit analysis by comparing two groups: one group of customers who consider hotels’ RM practices to be fair and the other group considers the practices to be unfair. The findings provide an opportunity for hotel managers to identify customers’ particular characteristics that affect customer's perceptions of the fairness of hotels’ RM pricing practices.     

城市女性休闲活动的影响因素及差异分析——基于休息日与工作日的对比

对女性休闲活动的研究是西方休闲研究中的重要主题,而国内针对女性休闲活动的直接研究较少.本研究利用2007年北京市民活动日志的第一手数据,建立女性参与休闲的多项logit模型,分析女性休闲活动的影响因素并探讨休息日与工作日影响因素的差异.     

基于Logit模型的农户土地流转意愿及其影响因素研究——以南京市浦口区为例

规模经营是农业发展的必然趋势,而其又必须以农地流转为前提。以农户个体及家庭特征为对象,采用Logit模型分析农户土地流转意愿及其影响因素。结果表明:①农户文化水平、搬迁意愿、家庭劳动力数量、土地细碎化程度及土地流转经历对农户土地流转具有显著影响。其中,农户文化水平越高、搬迁意愿越强烈、家庭劳动数量越多,农户土地流转的意愿越强烈:土地细碎化程度是农地流转的一个限制因素;已有过农地流转经历的农户,越愿意进行农地流转;②研究区农地流转意愿较强,有52%的农户期待农地流转,需建立完善的农地流转市场,加强农村社会保障体系建设,进一步促进农地合理流转。     

基于“二元经济结构”的人民币汇率制度转换研究——运用三元模型

本文以26个具有“二元经济结构”特征的转型经济国家为样本,通过建立三元模型,对这些国家从1995￣2004年期间汇率制度转换情况进行了实证研究。结果表明,模型中的解释变量和反映“二元经济结构”特征的控制变量均具有很强的显著性,模型可靠稳定。最后,将我国的数据代入到模型中进行模拟和预测,得出了人民币汇率制度从1995年以来就应该向更加浮动的方向转换的结论。因此,应该把握当前有利时机,积极地向更加灵活的、有管理的浮动汇率制度的新框架进行转换。     

Demand for area crop insurance among litchi producers in northern Vietnam

This study examines the need for crop insurance for litchi production in northern Vietnam and how farmers might participate in such a program. Hypothetical insurance programs were developed which proposed all‐risk coverage based on area yields. This coverage was offered to farmers to determine both their interest in the program and how insurance features and farmer characteristics affected their decision to buy insurance. Farmers were also surveyed regarding their production practices, price and yield expectations, and financial and personal characteristics. Even before considering other program costs and government budget constraints, there is not a strong case for establishing a crop insurance program here. Results indicate that while farmer participation would be significant, crop insurance is not needed to achieve policy goals like raising farmer income or guaranteeing subsistence levels of income. Crop insurance is not needed to promote litchi production, which is already expanding rapidly due to its high profitability relative to other farm enterprises. In their choice of coverages, farmers preferred higher yield guarantee levels and lower indemnity prices. Estimated premiums were quite low when expressed as a percent of expected revenue, and farmers were not responsive to changes in premiums. Econometric analysis indicated that high income farmers were more likely to participate, but other farmer characteristics seemed to matter little. Anecdotal evidence suggested that farmers believed the expected area yields used to set insurance coverage levels were too low. Because litchi productivity varies significantly by tree age and the litchi planted area is expanding rapidly, determining appropriate values for expected area yields and insurance coverage levels appeared to be the biggest challenge in program design. It is hypothesized that additional farmer education about the relationship between area and farm yields and other aspects of area insurance could improve such a program's operation. Published by Elsevier Science B.V.     

Capacity retirement in the dry bulk market: A vessel based logit model

The paper investigates the effect of vessel specific and market variables on the probability of scrapping dry bulk ships. Using a dataset from 2012 to 2015, we find that the probability of scrapping increases with age, but that the relation between vessel size and scrapping probability varies across the different segments. In addition, while the relation between earnings and probability of scrapping ships is negative, bunker prices seem to affect only the scrapping rate of smaller tonnage. Scrapping probability also increases with an increase in interest rates, freight market volatility and scrap steel prices.     

农村金融支持影响家庭农场培育的机理与实效--基于金融支持来源视角的实证检验

基于金融支持来源视角,从家庭农场培育资金需求的内部与外部来源出发,构建农村金融支持影响家庭农场培育机理模型,并采用多元Logit方法对不同来源的农村金融支持效果进行实证检验。结果表明：政府提供的通用性金融支持、金融机构提供的专用性金融支持和农场自有资金对家庭农场的培育具有显著影响,其中家庭农场自有资金的影响最明显;文化程度、交通条件、农技指导、产权制度、责任归属制度等也是家庭农场培育的重要影响因素。这为农村金融支持方向提供了实证证据。