基于Meta分析的供应链网络嵌入性与协同创新绩效关系研究

供应链企业在合作中相互产生嵌入行为对高效整合链上资源以提高协同创新绩效至关重要,然而,两者之间的关系至今尚未形成一致性研究结论。本文利用Meta分析方法,以60篇相关文献、118个效应值、17911个独立样本作为研究对象,探究了网络嵌入性及各维度与协同创新绩效的整体效应,并运用亚组分析明晰了调节变量在两者关系中的调节作用。研究表明：网络嵌入性及其子维与协同创新绩效具有显著的正相关关系。另外,行业类型、区位因素、绩效类型及实证研究方法的不同均会导致研究结果不一致。本研究结论在一定程度上为网络嵌入性与协同创新绩效的关系研究提供了理论依据,同时也为供应链企业通过网络嵌入性提高创新能力提供了可资借鉴的参考思路。     

Reining in auditors: On the dynamics of power surrounding an “innovation” in the regulatory space

In the aftermath of Enron and the collapse of Arthur Andersen, new “independent” institutions were created to oversee financial auditing. Based on a modified version of Lukes’ multidimensional model of power, we first investigate how the creation of the Canadian Public Accountability Board (CPAB) has affected the dynamics of power among the main players enlisted in Canada’s regulation of public accounting. Our findings strengthen the view that a “form of allegiance” was, at the time of data collection, developing between CPAB and the largest Canadian accounting firms. Through a second analytical movement, we extend the boundaries of our argument, showing that patterns of resistance against the logic of arm’s length regulation operate in a variety of audit regulatory sites. Our conclusion points, in particular, to the spatial gap - and incidentally the limitations - of any attempt to control and supervise a globalized industry from a national or regional perspective.     

论中国货币政策在宏观调控中面临的新挑战

随着世界经济一体化的逐步深入推进,中国经济在世界经济发展中的影响愈来愈大,中国货币政策在履行职能、实现宏观调控目标的过程中,面临着包括人民币汇率形成机制改革、资产价格波动、人民币国际化、国际金融体系及国际金融监管改革等诸多新的挑战。     

面向社会发展目标的中德城市详细规划调控比较研究

本文聚焦于面向社会发展目标的城市详细规划调控问题.在中德城市规划社会发展目标分析的基础之上,从公平利用土地资源的制度保证、住房面积调控、公共服务设施配套、物质形态和景现、文化遗产保存5个方面,运用规划调控力比较模型进行了中国控制性详细规划和德国建造规划之间的面向社会发展目标的规划调控能力比较研究,进而界定出控规相对于德...     

不动产投资信托(REITs)监管成本与制度完善 ——基于欧美制度比较的视角

文章采用收益成本分析(Benefit-Cost Analysis,简称BCA)框架,比较了美、欧和中国的REITs制度及其监管成本.在收益成本数据缺乏的情况下,采用概念性BCA的方法,从直接成本与间接成本两个维度,对三种制度的监管成本进行了比较.本文的研究发现,我国即将试点的基础设施REITs,由于结构复杂、代理链长,容易导致过高的监管成本.本文对REITs监管制度的比较研究,一方面是BCA方法在运用领域上的一个拓展,有助于提高我国监管部门对BCA方法的认识;另一方面,可以为我国基础设施REITs制度的完善提供参考.建议在监管制度建立和改革时引入事前BCA评估的制度,以提高我国监管制度的有效性和监管效率.     

Regime switching models for the Mexican peso

The Mexican peso has shown long periods of tranquility that suddenly give rise to short volatile periods. We characterize this exchange rate process by estimating a series of regime switching regressions and comparing the different specifications as pioneered by Meese and Rogoff [J. Int. Econ. 14 (1983) 3]. We find evidence for two clearly identified regimes: one with an appreciating trend and low volatility, and another with large depreciations and high volatility. We use the estimated model to explain the bias implied in the peso forward market. Finally, we show that duration dependence or fundamentally driven transition probabilities do not improve the model's forecasting power.     

论步骘及其家族人物对孙吴政局的影响

步骘作为临淮淮阴步氏家族的代表人物，东汉末年避难江东，饱尝艰辛。后采进入孙权幕府，建安十五年，步骘受命领兵入交州，为孙吴开辟疆域；任职荆州，不断举荐士人，反对孙权重用校事吕壹。孙权步夫人“宠冠后庭”，孙权屡欲立其为后，引起统治集团上层的激烈纷争；其女全公主凭依孙权的支持，暗中操纵了“二宫构争”等一系列政治斗争。     

The Effect of Market Regimes on Style Allocation

We analyse time-varying risk premia and the implications for portfolio choice. Using Markov Chain Monte Carlo (MCMC) methods, we estimate a multivariate regime-switching model for the Carhart (1997) four-factor model. We find two clearly separable regimes with different mean returns, volatilities, and correlations. In the High-Variance Regime, only value stocks deliver a good performance, whereas in the Low-Variance Regime, the market portfolio and momentum stocks promise high returns. Regime-switching induces investors to change their portfolio style over time depending on the investment horizon, the risk aversion, and the prevailing regime. Value investing seems to be a rational strategy in the High-Variance Regime, momentum investing in the Low-Variance Regime. An empirical out-of-sample backtest indicates that this switching strategy can be profitable, but the overall forecasting ability for the regime-switching model seems to be weak compared to the iid model.     

Market Liberalization,Regulatory Uncertainty,and Firm Investment

This paper analyzes the effects of regulatory uncertainty regarding labor costs on investment in a liberalized market. We distinguish between the external investment margin (market entry) and the internal investment margin (technology), and establish that regulatory uncertainty affects these margins differently, encouraging market entry, but discouraging technological investment. As a consequence, the impact of regulatory uncertainty on competition in liberalized markets is a combination of these two countervailing forces.     

规制俘获理论跨学科研究进展述评

规制俘获理论是刻画政府规制过程中各利益集团相互行为关系的理论,它将经济学的有关理论及分析方法引入对政府规制目标和效果的研究,从而大大拓展了规制研究的视野。随着规制环境的变化,规制俘获理论研究呈现出跨学科、跨边界、跨层次的趋势,管理学、法学、政治学和社会学与经济学中规制俘获理论的交叉、融合,发展了许多新的研究内容和领域。本文从规制俘获的前因、方式、结果和治理措施等方面对这些领域的理论基础、研究范式和最新进展进行介绍,并结合现有各学科研究的特点与不足,提出为形成科学的理论体系,在未来研究中需要进一步拓展的方向。