农村土地承包经营权融资方式创新——基于镇江市土地流转信托实践

十八届三中全会提出要加快构建新型农业经营体系,赋予农民更多财产权利.在此背景下农村土地流转信托迅速受到各方关注.相比于农村土地承包经营权抵押贷款等融资方式,土地流转信托在坚持农村土地所有权和承包权不变的前提下,发挥了农村土地承包经营权的融资功能,找到了一种既让农民流出土地后获得稳定收益,又帮助各类主体流入土地后获得足够金融支持实现土地高效利用的模式.农民、农业经营者以及信托公司三方以土地流转信托项目为平台,产融结合,实现了农地集约化、专业化、规模化的经营,推动了农地增值、农业增效、农民增收.     

The role of the seven dimensions of job satisfaction in salesperson's attitudes and behaviors

To date, the majority of studies on job satisfaction use either a global measure or the JDI measure. To extend current research, this study uses the seven dimensions of job satisfaction as described by Churchill et al. [Churchill, G.A., Ford, N.M., Walker, O.C. Measuring the job satisfaction of industrial salesmen. J Mark Res 1974; 11 (3): 254-260.] to explore the relationship between job satisfaction, emotional exhaustion, organizational commitment and propensity to leave. Findings suggest that: 1) emotional exhaustion only relates to certain dimensions of job satisfaction and 2) job satisfaction dimensions related to organizational commitment and propensity to leave are not necessarily the same. Overall, this research provides an argument for the use of the seven dimension job satisfaction scale, as opposed to global measures or the JDI measure.     

Dual long-memory, structural breaks and the link between turnover and the range-based volatility

This paper investigates the issue of temporal ordering of the range-based volatility and turnover volume in the Korean market for the period 1995–2005. We examine the dynamics of the two variables and their respective uncertainties using a bivariate dual long-memory model. We distinguish volume trading before the Asia financial crisis from trading after the crisis. We find that the apparent long-memory in the variables is quite resistant to the presence of breaks. However, when we take into account structural breaks the order of integration of the conditional variance series decreases considerably. Moreover, the impact of foreign volume on volatility is negative in the pre-crisis period but turns to positive after the crisis. This result is consistent with the view that foreign purchases tend to lower volatility in emerging markets—especially in the first few years after market liberalization when foreigners are buying into local markets—whereas foreign sales increase volatility. Before the crisis there is no causal effect for domestic volume on volatility whereas in the post-crisis period total and domestic volumes affect volatility positively. The former result is in line with the theoretical underpinnings that predict that trading within domestic investor groups does not affect volatility. The latter result is consistent with the theoretical argument that the positive relation between the two variables is driven by the uninformed general public.     

Why Are Quit Rates Lower Among Defense Contractors?

This paper presents empirical evidence of lower quit rates at small manufacturers with defense contracts and examines whether this is associated with differences in their human resource policies and organizational practices and strategies. We take advantage of an original data set to compare labor quits, workforce skills, and occupational structure between defense‐contracting and noncontracting small manufacturers in eastern Pennsylvania. We find that the remarkably large defense contractor advantage in quit rates—7 percentage points—is almost totally explained by differences in skills, operational strategies, and workforce management and training practices, suggesting a mediation effect through these HR practices. Defense‐contracting status emerges as an important overlooked variable in HRM studies.     

税制改革和国有商业银行资本充足率的内源性提升

金融部门被认为是现代市场经济的枢纽和命脉,其效率水平会对整个经济的效率水平产生基础性影响。资本充足率是衡量银行抵御风险能力和稳健性的重要指标,我国国有商业银行资本充足率状况不容乐观。税收作为国家主要政策手段,是金融发展的重要制度因素。文章从税制改革角度,探讨提升国有商业银行资本充足率的问题。     

COVID-19: The effects of job insecurity on the job engagement and turnover intent of deluxe hotel employees and the moderating role of generational characteristics

COVID-19 has caused an unprecedented crisis in all industries around the world. This study sought to verify that job insecurity, as perceived by deluxe hotel employees, significantly affects their job engagement and turnover intent and to determine the moderating effect of generational characteristics. The finding showed that perceptions of job insecurity had negative effects on the engagement of deluxe hotel employees. Also, employees’ job engagement can decrease turnover intent. The engagement of employees fully mediated the relationship between perceptions of job insecurity and turnover intent, and job insecurity caused by COVID-19 had a greater influence on Generation Y than Generation X in reducing job engagement, indicating that the negative impact of job insecurity is higher in Generation Y.     

Is all turnover intent the same? Exploring future job preference and environmental considerations

This study approaches turnover intent in a novel way by incorporating both environmental and internal organizational factors together to create a more nuanced view of what drives turnover. The analytical focus is on senior-level employees in four agencies within the US Department of Health and Human Services. The findings show that internal organizational factors partially explain decisions to change jobs, but agency and time differences remain even after controlling for those factors. It also finds that the decision to leave government is driven by different factors than the decision to move to other jobs within government.     

组织认同感与离职倾向关系研究

通过18家企业的358份样本进行分析,对组织认同感量表进行本土化修订,在此基础上考察组织认同感与离职倾向间的相关关系,并对可能的调节变量进行验证。研究结果显示,组织认同感包含忠诚、成员身份和相似性三个维度,组织认同感对离职倾向具有负向的预测效果,环境机会的调节作用不明显。通过强化员工的组织认同感,企业可以有效地减少其离职倾向。     

科技人才组织领地行为如何影响其离职意向

基于资源保存理论视角,以科技人才为研究对象,关注其组织领地行为对离职意向的影响机制,并探究心理所有权的中介作用、婚姻的调节作用以及婚姻与心理所有权共同产生的被调节的中介作用。建立基于科技人才婚姻情况与心理所有权的被调节的中介作用模型,运用问卷调查方法收集全国各地高新技术企业、高等院校、科研院所等科技人才共411份有效问卷,展开实证分析。结果表明：不考虑婚姻的调节作用时,科技人才组织领地行为对离职意向的直接影响不显著,心理所有权对这种直接影响也无中介作用;考虑到婚姻的调节作用,未婚群体的组织领地行为越强,离职意向越强烈;在被调节的中介作用模型中,婚姻状况在心理所有权对组织领地行为与离职意向间的中介作用起到了调节作用,具体表现为未婚群体组织领地行为通过组织心理所有权的部分中介作用负向影响离职意向,通过直接影响机制正向影响离职意向。     

流动性与资产定价:基于我国股市资产换手率与预期收益的实证研究

流动性与资产定价是目前金融研究的热点之一 (O’Hara,2 0 0 3 )。本文通过检验交易频率零假设和交易成本备择假设 ,深入分析我国股市流动性与资产定价的理论与经验关系 ,发现 :我国股市存在显著的流动性溢价 ,换手率低、交易成本高且流动性小的资产具有较高的预期收益 ;产生流动性溢价的原因是交易成本而不是交易频率 ;与国外股市相似 ,小企业收益率高于大企业 ,价值股收益率高于成长股。因此 ,我国股市并非令人无法捉摸 ,流动性、规模和价值效应都是资产定价的因素