Are inter-segment revenues informative about future performance?

This study investigates the degree to which a specific component of segmental disclosure, intersegment transactions, informs future segment-level and firm-level profitability. By using segment data reported under the FAS No. 131 regime, we find a positive association between intersegment revenues and one-year-ahead segment operating profits; this association is weakened by agency costs but not proprietary costs. We also find that the aggregate intersegment revenue reported by a firm is positively associated with future firm-level earnings. However, analysts seem to underreact to information in aggregate intersegment revenue.     

FDI,Export Sophistication,and Quality Upgrading: Evidence from China's WTO Accession

This paper identifies a positive effect of FDI liberalization on manufacturing export sophistication, exploiting China’s adjustment of its Catalogue for the Guidance of Foreign Investment Industries upon its accession to WTO. It further investigates the underlying causes in the lines of firm ownership type, trade mode, product type, and intensive vs. extensive margins. The positive effect comes from, e.g., the increase in the export share of foreign-invested enterprises (FIEs) and firms with processing trade, and the increase in the export sophistication of privately-owned enterprises (POEs), of ordinary trade, and of intermediate goods. The intensive margin rather than extensive margin is accountable for the effect. Liberalizing FDI does not seem to have any significant effect on product quality.     

高质量发展下中国旅游业“双碳”目标：评估预测、主要挑战与实现路径

积极响应全球气候变化和坚决贯彻党中央提出的碳达峰、碳中和（简称“双碳”）目标是中国旅游业高质量发展的重要使命。本文在评估1990—2020年中国旅游业碳排放状况基础上,预测2021—2060年中国旅游业碳排放,分析中国旅游业实现“双碳”目标的主要挑战、任务与实现路径。研究结果表明：（1）中国旅游业碳排放可分为4个阶段;碳排放结构特征显著,旅游交通及休闲度假是碳排放主体;旅游消费需求增长趋势下唯有以低碳情景推进,方能在2030—2035年间实现旅游业碳达峰,为实现碳中和目标减缓阻力。（2）中国旅游业实现“双碳”目标面临旅游碳排增速快、全球气候变化威胁、碳排放边界模糊、品质化旅游需求旺盛、减碳技术不足5大挑战;必须从宏观-产业、中观-目的地与企业、微观-游客3个维度确定实现“双碳”目标的主要任务;坚守统筹协调、因地制宜、尊重规律、推广科技、差异化实现5大发展原则。（3）高质量发展下中国旅游业“双碳”目标的实现路径应从供给侧、消费端、政策支撑3方面突破,在供给侧加快能源结构调整、加大减碳技术投入、增强碳汇能力,在消费端促进旅游消费主体、消费场所、服务组织的减碳全面响应,在政策支撑加快完善低碳政策、鼓励低碳政策创新。本文立足中国旅游业实现“双碳”目标的研究前沿,初步建立了旅游“双碳”理论,丰富了低碳旅游理论,可为高质量发展下中国旅游业“双碳”目标实现提供决策参考。     

城市毗邻效应与出口比较优势

培育出口新优势与拓展区域发展空间是“十三五”规划中培育经济发展新动力的重要举措,城市群建设为出口新优势的培育提供了可能。本文采用2000-2006年中国海关与城市统计年鉴数据考察了城市空间邻近对城市出口比较优势的动态影响。研究表明,城市间交互作用对毗邻城市新产品与现有产品出口优势的培育具有显著促进作用,在以长珠江三角洲城市群为主的东南地区最为显著;且更大程度促进了毗邻城市非优势出口产品与中低技能技术密集型产品的出口优势培育;空间毗邻是城市间发挥交互作用的必要条件。政府应加快城市群建设步伐,促进邻近城市间知识外溢等交互作用的便利化,推动中国出口新优势培育。     

Survival is for the fittest: Export survival patterns in Georgia

This paper analyzes the determinants of export flow survival in Georgia. The paper uses a unique Georgian firm-level dataset, in which firm characteristics and output dynamics are matched with their customs export transactions, for the period 2006–2012. We adopt a discrete survival model to explore the role of firm-level characteristics, diversification strategies and network effects on the survival rates of export flows. Low survival rates at the product level limit the ability of Georgian firms to consolidate new products in international markets. The analysis finds that it is production efficiency, rather than size, that boosts export survival chances, that firms’ diversification strategies matter for the prospects of survival, and that there is strong evidence of network effects in export survival. We also find that ratified foreign trade agreements contribute to increase the survival of export flows by reducing policy-induced trading costs and increasing information about destination markets.     

抽油机井检泵周期可靠性预测模型与实际应用

本文选用三参数威布尔分布建立了检泵周期概率密度分布模型,以全油田检泵作业井的检泵周期为统计样本,对检泵周期威布尔分布的参数值进行了回归分析,建立了检泵周期可靠性预测模型,预测可靠度与实际可靠度曲线吻合度较好。     

Are SMEs with immigrant owners exceptional exporters?

Immigrant owners possess valuable human and social capital from which small and medium-sized enterprises (SMEs) might derive advantages when internationalizing. According to this resource-based perspective, such advantages might be manifested in immigrant-owned SMEs' enhanced ability to identify, evaluate, develop and exploit opportunities in international markets. However, a cognitive perspective offers an opposing view: insofar as immigrant owners are more prone to overconfidence than their non-immigrant counterparts when making internationalization decisions, immigrant-owned SMEs might reap less financial rewards from potentially high-risk international markets. We pit the two perspectives against each other theoretically and empirically by evaluating a) the relationship between business owners' immigrant background and SMEs' export intensity, and b) the extent to which such background moderates the relationship between SMEs' export intensity and (risk-adjusted) financial performance. Based on a representative sample of 9977 Canadian SMEs, we find that the presence of immigrant owners positively impacts export intensity, but negatively moderates the relationship between export intensity and financial performance. We interpret this evidence, combined with supplementary analyses, as support for a cognitive theory of international entrepreneurship in general, and particularly in relation to the role and consequences of entrepreneurs' immigrant background.     

技术创新能力与FDI区域分布非均衡

从新经济地理学的角度,考察了技术创新能力、地区市场规模和出口开放度等因素对FDI在中国各省区的集聚,以及由此而导致的FDI区域分布非均衡性。运用30个省(直辖市、自治区)1999—2007年的面板数据进行实证。研究发现,在吸引FDI方面,国内地区市场和国外市场具有一定的相互替代性;同时技术创新能力可以显著地吸引FDI进入。     

野生捕捞淡水贝类出口风险分析及应对

截至2009年10月29日,我国共有出口野生捕捞淡水贝类注册登记中转场9个,其中8个分布在江苏范围,生产水域包括太湖、洪泽湖、高邮湖等,洪泽湖和太湖是最主要的河蚬产区。据报道,洪泽湖河蚬探明储量为21.29万t（1991年）,太湖河蚬资源探明蕴藏量为4.7万t,可年供逾5800 t＂太湖活蚬＂,按每公斤活蚬10元计,其每年产值超过5000万元。笔者从事出口水生动物检验检疫工作多年,本文将结合检验检疫监管工作中发现的问题提出自己的看法。     

与发展中国家的贸易是否扩大了美国的相对工资差距

对外贸易不仅直接影响着相对工资差距,还通过技术创新效应间接影响着相对工资差距。本文运用美国制造业1997-2006年的面板数据,实证分析了美国与发展中国家的贸易对美国制造业相对工资差距的影响。研究结论是:来自发展中国家劳动密集型产品的进口竞争没有扩大美国制造业所有行业的相对工资差距,美国劳动密集制造部门相对工资差距的扩大与来自发展中国家的进口竞争有一定的关联,但技术密集制造部门相对工资差距的扩大与其无关;美国对发展中国家的出口贸易以及国内的技术创新在很大程度上扩大了美国制造业的相对工资差距。