政府间转移支付、物流专业化与企业出口行为

文章以政府间转移支付、物流专业化影响企业出口行为的理论为基础,采用2000-2013年中国县级财政经济统计数据以及中国工业企业微观数据,运用Heckman两阶段法探究政府间转移支付、物流专业化与企业出口行为的总体关系。研究发现,政府间转移支付显著推动企业出口参与度的提高和出口规模的增长,物流专业化对上述企业出口行为均有显著的积极影响,政府间转移支付在物流专业化与企业出口行为的关系之间呈现显著的负向调节作用。在通过解决变量内生性问题、消除分配政策影响、考虑新冠肺炎疫情等外生冲击影响等一系列稳健性检验后,上述结论依然成立。进一步对政府间转移支付的异质性分析结果显示,一般性转移支付与物流专业化的交互项对企业出口参与度的回归结果变为正向显著。中介效应检验表明,政府间转移支付主要通过协调区域经济发展、基本公共服务均等化、改善财政收支结构促进企业自身出口参与和出口规模扩张;物流专业化主要通过物流规模扩张和物流效率提升促进企业出口二元边际增长。在新冠肺炎疫情长期持续和当前复杂艰难的国际贸易形势下,这一研究对我国继续优化政府间转移支付分配结构、强化物流专业化比较优势,进一步释放企业出口潜力,畅通国内国际经济双循环具有重要参考价值。     

行政诉讼反诉制度的诉讼构造及创设路径

《最高人民法院关于审理行政协议案件若干问题的规定》第6条对反诉做出了排除性规定。该规定虽然避免了导入反诉制度所可能产生的新的程序风险,但同时也保留了在行政主体诉权领域存在的规范漏洞。行政诉讼反诉主要是实体上具有平等法律地位主体之间的当事人诉讼,其实体法基础源于行政主体与公民之间的权利义务结构。行政诉讼反诉以存在独立的诉讼标的为前提,在一般给付诉讼和确认诉讼中存在适用空间。建议将来修改《行政诉讼法》时对行政主体的起诉权与反诉权进行并置规定,在立法技术上通过诉讼类型或者案件类型对反诉的适用范围进行限制,并对反诉的特殊程序规则进行明确规定。     

Paradigm Conflict and the Wealth Effects of Blockholder Formation in Private Target Acquisitions

Decision making in public companies follows an organized structure dominated by risk aversion. The decisions in private entrepreneurial firms tend to be driven by overconfidence and reliance on trial and error. Such entrepreneurial attitudes are reinforced by high levels of profitability. The authors argue that this difference in decision-making paradigms limits the wealth effect of blockholder formation by the profitable private target's owners in mergers and acquisitions. Blockholder formation by private target owners is associated with substantial acquirer shareholder gains in the acquisitions of targets with relatively low and moderate profitability levels. To the opposite, the market reacts to blockholder formation by the owners of highly profitable targets with skepticism. Such announcements are associated with insignificant wealth effects overall and substantial acquirer losses in acquisitions in human capital-intensive sectors whereby disagreements are likely to be consequential. Acquirers understand these wealth effects and reduce the extent of stock financing when acquiring highly profitable targets.     

The role payment depreciation in short temporal separations: Should online retailer make customers wait?

In recent times, it has become common for customers to pre-pay for goods but consume them later. The pain of payment reduces over time, in a phenomenon called payment depreciation (PD). Researchers have examined this phenomenon in situations when payment precedes consumption by long periods, ranging from three weeks to several years. The present study examines the occurrence of payment depreciation when costs precede benefits by short periods, such as three days to two weeks. The three experiments establish the presence of PD in short intervals of less than two weeks. The results are robust for both inventoried and non-inventoried consumption. The results further suggest that the sunk cost of a payment devalues discretely and not continuously. The value of the sunk cost in the consumer's mental account drops significantly after two weeks, as compared to one week. The results fail to demonstrate the effect of payment mode on the payment depreciation phenomenon. Implications indicate that retailers can vary their order delivery period to reduce product returns.     

Assessment of mobile technology use in the emerging market: Analyzing intention to use m-payment services in India

The potential use of mobile payment is enormous and it is receiving attention as an alternative mode of payment worldwide. The present study develops a conceptual model to analyze the intention to use mobile payment services in the emerging market. Data was collected in India, one of the biggest emerging market, through a survey. The research hypotheses were tested using structural equation modeling approach. The results offer support that innovativeness, stress and perceived ease of use influence the perceived usefulness of mobile payment services. Subsequently, perceived usefulness, perceived satisfaction, perceived risk and perceived trust influence the intention to use mobile payment services. The findings provide alternatives for companies to consolidate this technology-based payment service.     

Does how you pay influence the share of healthy items that you Buy? Assessing differences in nutritional quality of food purchases by payment type

Shoppers that use cash as a form of payment are more likely to evaluate the necessity of an item they purchase than shoppers that pay with other forms of payment, such as credit cards. In this paper, we hypothesize that the use of cash may nudge shoppers to buy more healthful food items. We empirically evaluate whether the payment method affects the nutritional quality of food purchases. We also test whether the effect of payment type differs between food-at-home and food-away-from-home events. Specifically, we test whether shoppers purchase a higher share of nutritious food items when they pay with cash compared to when they use credit and debit cards. We use the National Household Food Acquisition and Purchase Survey (FoodAPS) data that tracks individual’s food purchases over one week. Using the Guiding Stars Program (GSP) algorithm to measure the nutritional quality of food items, we calculate the share of healthy items purchased at each event. We find that shoppers using cash purchase a higher share of healthy items than when they use credit or debit cards, and this nudging effect is primarily driven by food-away-from-home purchases.     

Disadvantage and economic viability: characterising vulnerabilities and resilience in upland farming systems

Less Favoured Areas (LFA) were designated to support farming activity on land with limited productive potential. However, progressive land abandonment in these areas questions the rationale and targeting of support payments to maintain viable farming enterprises. Using micro level data on farm businesses over the period 2003-2016 matched to land capability and spatial data we identify the distribution of viable and vulnerable enterprises in Less Favoured Areas. We find five categories of household based on progressive quality of life thresholds, namely i. vulnerable, ii. sustainable, iii. viable, iv. resilient, and v. robust. A proportional odds model measured the effect of biophysical and remote disadvantage on predicting these states of viability, along with farm family lifecycle factors. Whilst we would expect higher proportions of disadvantaged farmland to be negatively related to viability, when combined with rural remoteness this increases the magnitude of the effect. However, clear succession planning and tenancy arrangements suggest that approaches to management of the business and the farm family life-cycle may overcome some of these disadvantages. These results have to be considered against the UK’s planned withdrawal from the Common Agricultural Policy. This offers opportunities to provide a more nuanced approach to targeting and supporting disadvantaged regions beyond current criteria. However, there would seem to be dissonance between the proposed payment for public goods agenda, which is results orientated, and support for correcting natural disadvantages where opportunities for delivery of these public goods will be limited.     

不法原因给付的困境与规则构建

不法原因给付不得返还的传统规则面临诸多困境：“不法即合法”、同为违法一方却额外获利、悖于规范目的。动态系统论回避问题真正解决方案，区分不当得利返还是否等同于承认合同有效，无法解释诸多例外情形，比例分担路径的实质仍是全部返还或否定返还。博弈论视角考察表明，不法原因给付的一般预防功能，主要在不法原因给付受领人尚未提出违法悖俗给付时发挥作用。罗马法中不法原因给付不得返还之规则适用于目的不达型返还之诉中，旨在阻止当事人于未来提出不法原因给付。由此所带来的启示在于，不法原因给付制度的一般预防功能应着眼于当事人尚未实施违法悖俗行为之时，在此基础上形成合理规则，在双方均已经提出给付时，应肯定各自返还请求权，在目的不达型不当得利案型中，若受领人尚未提出给付，应否定给付人的返还请求权。     

电子货币与虚拟货币比较研究

本文首先对电子货币与虚拟货币的概念进行了界定,然后从发行主体与信用保证、支付方向与支付范围、是否具有借币收费过程等方面的性质进行了比较研究。本文认为,银行等金融机构发行的电子货币具有交易媒介功能,是具有无限支付能力的全局货币;网络企业发行的法币预付充值型网络虚拟货币不是交易媒介,在性质上不是真正的货币,只是局部性单向支付工具;类似人大经济论坛币这样的纯粹虚拟货币在其虚拟经济系统中是双向支付工具,具有交易媒介性质,是一种有限支付能力的局部货币,但是其离开了虚拟社区就不再作为交易媒介,而最多可能成为倒卖对象。     

支付系统发展与超额准备金需求变动

本文介绍了我国支付系统的主要发展阶段、超额准备金需求变动的理论基础及支付系统发展对超额准备金需求的影响.研究发现,支付系统的发展降低了商业银行对超额准备金的需求,降低了商业银行超额准备金率的方差,提高了商业银行对超额准备金机会成本的敏感程度,更重要的是它可能影响央行法定存款准备金制度的效果.