Dynamics of the UK natural gas industry: System dynamics modelling and long-term energy policy analysis

We present a dynamic model of the indigenous natural gas industry in the UK. The model has been built using a system dynamics approach. Using the model several scenarios have been analyzed. We found that management of the supply-side policy alone cannot substantially postpone the discovery, production and consumption peak. We also found that the dynamics of the main variables, namely, exploration, production and consumption, are sensitive to initial demand conditions. Postponing the onset of gas price increases can therefore be achieved more effectively through efforts to reduce demand growth. One might expect that a low taxation policy would encourage more exploration and production of gas and thereby stimulate higher consumption rates. Instead, there was no overall net effect on production and consumption in the long term. The depletion effect on cost of exploration acts as counterbalance to low taxation policy. Depletion effect causes cost and thus price to rise further which depress consumption rate. The advances in exploration and production technology can delay the peak of exploration, production and consumption. Technological improvements mean lower cost of exploration and production which pressure down the long-term pattern of price dynamics.     

Research on the relationship between stand productivity and site condition of Larix kaempferi

In this research, five plots are Selected based on stand storage and productivity of planted forest of Larix kaempferi （Japanese larch） as well as their relationship with factors suCh as forest age, site condition and stand density. Through standard plot investigation and method of trunk analysis, systematic research is conducted on storage and productivity of the planted forest and their relationship with site condition. As shown in the research, productivity of planted forest of Larix kaempferi in low latitude area is higher than that in high latitude area while stand productivity is higher in slight acid soil. Contents of potassium element in the soil have Considerable influence on productivity of the Larix kaempferi forest.     

The effect of legal status on immigrant wages and occupational skills

Native and foreign-born workers with a high school degree or less education work in different types of occupations. This article exploits the 1986 Immigration Reform and Control Act to examine whether legal status causes immigrants to work in occupations that use skills similar to those of natives. Legal status decreases the manual skill intensity of immigrants’ occupations by about two percentiles. It increases communication skill intensity by a similar amount. This reduces the skill gap between Mexican-born and native-born American workers by 11–15%.     

我国海洋经济发展的若干思考

海洋经济是人类开发和利用海洋资源、获取海洋产品的经济活动。海洋经济已经成为我国国民经济新的增长点。我国海洋经济发展迅猛，但同时也存在许多问题。文章认为，海洋经济实质上是海洋生态经济，是陆地生态经济向海洋的延伸；海岸带的合理开发和利用是实现海洋经济健康和持续发展的关键；应开展海洋资源与环境价值核算，调整和修正海洋经济综合评价指标，以反映海洋资源的耗竭和环境退化；应加强海洋经济省的建设；海洋经济的发展要注重观念、运行模式、新技术和机制等的创新，强调平衡发展战略与非平衡发展战略的有机结合。     

Payments for ecosystem services and corporate social responsibility: Perspectives on sustainable production,stakeholder relations,and philanthropy in Thailand

Payments for ecosystem services (PES) are environmental management tools that enable corporations to simultaneously enhance their environmental performance and fund sustainable development in rural areas. PES is primarily promoted as part of a sustainable production strategy for conserving natural resources, offsetting carbon emissions, and green supply chain management. Nevertheless, PES uptake by the private sector remains low, and few studies have analysed whether corporate‐financed PES schemes conform to this rationale. This study evaluates three of the first PES schemes in Thailand, financed by large corporations in the water utilities, aquaculture, and beverage sectors. Interviews with 39 business managers and project stakeholders suggest that PES may be viewed as a tool for philanthropy, public relations, and gaining license to operate—akin to many corporate social responsibility initiatives. Explanations and ramifications are discussed in the context of ecological uncertainty, risk management, financial performance, organisational learning, and the corporate‐engagement strategies of non‐governmental organisations.     

武陵源世界自然遗产地生态旅游者细分研究——基于环境态度与环境行为视角

以国内外知名生态旅游地之一的武陵源世界自然遗产地生态旅游者为研究对象,通过抽样调查,应用描述性统计、信度分析、因素分析、集群分析等方式,以生态旅游者的环境态度与环境行为视角来分析生态旅游者类群特征。研究表明,在以旅游者环境态度与环境行为构建的两维坐标系中,可以将武陵源世界自然遗产地生态旅游者分为友好型、破坏型、真正型、伪生态、可持续和偶尔型等6类;生态旅游者在环境意识、环境责任、参与状态、参与程度、环境解说、居民利益和行为表现上均有差异;武陵源世界自然遗产地的旅游市场仍然是一般生态观光为主,生态旅游为辅的格局。     

天然气输销过程中的输差计算及其控制

结合燃气输销企业生产现场的实际情况，分析了输差产生的原因，给出了正确的统计方法并提出了合理的控制措施。     

黑龙江省农村金融制度现状及其问题分析

随着农村金融体制改革的深入,黑龙江省农村金融发生了可喜的变化。但也存在一些突出的问题,如直接融资占融资结构的比重偏低、金融服务体系不健全、农村金融抑制等。导致黑龙江省农村金融效率低下、农村金融资源配置的帕累托条件缺失的根本原因在于农村金融制度有效供给不足,以及制度结构不够协调。     

Can stochastic discount factor models explain the cross-section of equity returns?

We propose a multivariate test of the capital asset pricing model (C-CAPM) of the cross-sectional variation in equity returns in which we compare cross-sectional variation in equity returns to the cross-sectional variation in their conditional covariance with stochastic discount factors. We use a multivariate generalized heteroskedasticity in mean model to estimate 25 portfolios that are formed on size and the book-to-market ratio. Each portfolio is allowed to have its own no-arbitrage condition. We find that although the conditional covariances of returns with consumption exhibit negative variation across size, they do not vary across the book-to-market ratio. Thus, C-CAPM can capture the size effect, but not the value effect. The fit is, however, improved by allowing the coefficients on the consumption covariances to be different. The value effect appears to be associated with the book-to-market ratio as well as size. On its own the book-to-market ratio does not generate additional information about average returns to C-CAPM. A possible explanation for these findings is that both small and low book-to-market ratio firms are expected to have higher rates of growth.