审慎看待“幸福指数”

近两年来，在我国的媒体和各级官员的话语中，频频出现“幸福指数”或类似的表达。其实，作为舶来品的“幸福指数”，相当程度上正被众多的媒体和官员误读。“幸福指数”不可能替代GDP。为了避免“幸福指数”的运用走向异化、陷入贻笑大方的窘境，我们必须审慎看待“幸福指数”。     

构建商业银行声誉风险化解机制的思考

商业银行的经营活动必定伴随着一定的风险,有风险就必须得到有效的化解。通过对建立商业银行声誉风险化解机制的必要性认识及对声誉风险内涵的深刻分析,根据不同的要素,具有针对性地提出构建商业银行声誉风险化解机制的一些思路,为我国商业银行化解风险、稳健经营提供支持。     

国际金融中心竞争力比较研究

目前的国际金融中心格局发生了重大变化,国际金融中心之间的竞争更为激烈。各金融中心所处位置发生了较大变化,高层级与底层级国际金融中心之间的差距有所拉大,亚洲地区金融中心的竞争力逐步提高。各国际金融中心提高竞争力的经验有所差异,但主要包括放松管制、金融创新、金融基建与政府推动。     

中国服务贸易竞争力实证研究:1982—2010

对中国服务贸易竞争力进行了全面测算和深入分析后发现中国服务贸易总体竞争力仍处于较低水平,在一些关键性服务领域仍处于弱势地位。试图通过实证研究,以期发现中国服务贸易竞争力与人力资本、服务产业及对外开放之间存在的内在关系。认为人力资本对服务贸易进出口能力具有直接影响,而服务产业的效应不具明显性,对外开放对服务贸易有一定负作用。     

Environmental proactivity,competitive strategy,and market performance: The mediating role of environmental reputation

This article examines the impact of small and medium-sized enterprises' (SMEs) proactive environmental strategy on market performance through the mediating mechanism of environmental reputation. In addition, we investigate the potential moderating role of competitive strategies on the environmental reputation-market performance nexus. Data were collected from 223 SMEs. Using the hierarchical multiple regression analysis, the results show that a proactive environmental strategy positively enhances environmental reputation. Also, the influence of proactively environmental strategy on market performance is mediated by environmental reputation. In addition, our findings show the relationship between environmental reputation and market performance is greater for firms that adopt the differentiation strategy but not significant for firms adopting the low-cost and integrated strategies. Our study offers several theoretical and practical implications.     

中国评级市场被“劣币驱逐良币”机制主导了吗

声誉机制能够产生“优胜劣汰”的压力,是对评级机构行为的重要约束。中国舍本逐末的评级制度安排和不成熟的市场环境不仅阻碍了声誉机制的形成,还为评级机构出具过高评级提供了空间。根据该情况构建的评级合谋市场均衡模型,证明了我国评级市场竞争增加会导致评级质量的下降。利用鹏元资信评估有限公司进入城投企业债评级市场作为自然实验的进一步研究对理论进行了验证。分析表明,“劣币驱逐良币”的恶性竞争机制在我国评级市场占据主导地位。为此,我国在长期内应当对评级行业的制度安排进行重新设计,建立以声誉机制为主导的市场环境;短期内则需要加强监管,同时控制评级市场的竞争程度。     

投资银行声誉与IPO超额回报率相关分析

国外理论与实证研究表明,投资银行声誉与IPO超额回报率负相关。本文选择2002~2006年在沪深证券市场发行上市的股票为样本,同时考虑股票发行定价方式及股权分置等证券市场制度改革的影响,分时段、分市场进行分析,结果显示,声誉型投资银行相对普通投资银行所承销的股票具有较高的平均抑价率,就声誉型投资银行内部而言,其声誉水平与IPO抑价率呈负相关,但其关系并不显著,即投资银行声誉假说在我国不成立。     

Nexus between economic sanctions and inflation: a case study in Iran

Conventional studies have applied dummy variables to analyse the relationship between economic sanctions and inflation while we construct an index which is called Trade-Financial Sanctions (TF index). TF Index is a liner combination of indices which includes trade openness and foreign investment by applying the principal component model. Through the TF index and market exchange rate the impact of economic sanctions on inflation is analysed in the three phases of sanctions; free sanctions, heavy sanctions, and light sanctions. The results illustrate that the TF index decreases inflation when the Iran’s economy experiences free sanctions or light sanctions relative to when the economy is in heavy sanctions. Heavy sanctions create instability in the market exchange rates and widening the gap between the market and the official exchange rates. Furthermore, economic sanctions increase expected inflation among the people and drive higher inflation. Therefore, these results suggest that the government should work more seriously to solve the main obstacles of trade and investment inflows imposed by the economic sanctions.     

国家战略视角下鄂湘赣新型显示制造业协同创新研究

结合国家产业发展战略,采用复合系统协同度模型,从技术创新环境支撑能力（E）、技术创新获取能力（G）、技术创新应用能力（A）3个维度设计鄂湘赣新型显示制造业EGA协同创新能力评价指标体系。在此基础上,分别对鄂湘赣三省新型显示制造业的序参量变量有序度、省域内协同创新能力、省域间协同创新能力进行测评,并进行全面深入分析,最后提出对策建议。     

产业区域梯度转移及行业选择

区域间的产业转移是中国东西部协调均衡发展的可靠途径,本文在总结目前区域产业转移的现状和特点的基础上,通过计算产业梯度系数得出西部十省份具有竞争优势的产业,再基于各省产业的基础情况和与东部地区的相对产业梯度系数,确定西部各省承接长三角、珠三角和环渤海经济圈产业转移的重点行业。