环境水利工程项目经济效益调查分析与计算

以蔷薇河送清水工程为例，从工程实施前后的水质和水量两方面分析该工程的经济效益，以历史统计数据为基础结合工程实际，采用污染损失法计算工程效益。     

中美贸易摩擦下我国农业产业安全深层次困境及破解思路

2018年3月以来,中美贸易摩擦不断升级。面对美方贸易制裁,我国采取了包括对大豆等农产品加征关税的反制措施,却也暴露了农业产业安全面临的深层次困境：一是我国作为最大农产品进口国具有“大国效应”和贸易依赖,陷入了“贸易困境”;二是我国农产品价格与国际农产品价格“倒挂”,形成了“价格困境”;三是我国农业补贴政策受内外条件制约而面临着“补贴困境”;四是在经济全球化趋势下我国农业产业该如何与国际市场接轨的“全球化困境”。美国贸易保护主义行径不应动摇我国捍卫经济全球化的决心,未来我国农业产业只能是更深度参与农业资源全球配置。基于此,我们提出“口粮自给,休养生息,因粮于敌,大权在握”的十六字破解方针,即将国内有限农业资源集中于口粮生产、建立和完善休耕制度、发展海外屯田、着重培育本国农业综合企业和建立具有国际影响力的农产品交易中心。     

中国海洋经济韧性与海洋经济效率协调关系研究

海洋经济可持续发展兼具海洋经济韧性和海洋经济效率两种特质,因此探究海洋经济韧性与海洋经济效率的关系有助于推进海洋经济高质量发展.本文参考区域经济韧性测度方法,基于海洋经济周期,采用海洋经济核心变量测算2003-2016年11个沿海地区海洋经济韧性;采用SBM模型测算了 2001-2016年11个沿海地区海洋经济效率;并...     

成渝筑邕城市经济走廊共建面临的六大难题

"成渝筑邕城市经济走廊"战略构想的提出使西南地区"干"字形经济增长极(即"长江上游经济区 南贵昆经济带 成渝筑邕城市经济走廊"战略)雏形初现.成渝筑邕城市经济走廊共建面临着诸多难题,诸如城市结构失衡,产业分工水平低,城市边界边缘化,等等.对这些难题缺乏认识或估计不足将直接影响成渝筑邕城市经济走廊共建的效果,因此需要加以高度重视并努力找到求解之法.     

大城市边缘区土地利用变化与社会经济发展关系分析——以北京市平谷区为例

大城市边缘区是城市化最敏感、变化最大、最迅速的地区,也是土地利用变化最显著的地区,研究大城市边缘区土地利用变化时空过程及其驱动机制,对实现大城市自身可持续发展具有重要意义。该文采用数理统计与综合分析方法,对北京市平谷区土地利用动态变化及其与GDP、产业结构、消费结构、城镇化以及人口等社会经济发展因素的关系进行了分析。研究结果表明:1996~2004年,平谷区农用地面积持续减少,其中耕地减少较多,园地增长速度较快,林地略有减少。建设用地持续增加,其中交通用地增长速度最快。平谷区的土地利用变化与经济增长、产业升级、城镇化发展、消费结构变化以及人口增长具有显著的相关性,社会经济发展是土地利用变化的主要驱动因素。节约集约土地,提高土地利用效率,调整土地利用结构,促进产业优化升级,保障服务首都北京功能和平谷区域社会经济发展成为平谷区土地利用的必然要求。     

我国地区经济差异与城市化水平关系的实证分析

对改革开放以来地区经济发展水平的差异以及建国以来全国及各省区的城市化的发展进程进行了描述,利用格兰杰因果关系检验,研究我国不同经济发展阶段中城市化水平与经济增长的因果关系, 并采用国际上流行的Panel data方法从多个角度对城市化与地区经济增长的关系进行了分析研究。结论是:城市化水平的提高对于落后地区经济增长的促进作用要高于经济发达地区。     

Corporate social responsibility and Eurozone corporate bonds: The moderating role of country sustainability

In this paper, we empirically examine whether superior performance in corporate social responsibility (CSR) results in lower credit risk, measured by credit ratings and zero-volatility spreads (z-spreads). We are especially interested in how the environmental, social, and governance (ESG) related performance of the corresponding countries moderates this relationship. We find only weak evidence that superior corporate social performance (CSP) results in systematically reduced credit risk. However, we do find strong support for our hypothesis that a country’s ESG performance moderates the CSP–credit risk relationship. Superior CSP is regarded as risk-reducing and rewarded with better ratings and lower z-spreads only if it is recognized by the environment. In addition, we find a reduction of corporate bonds’ z-spreads by approx. 9.64 basis points if the CSP of a company mirrors the ESG performance of the country it is located in.     

The China model view is factually false

ABSTRACT

Using a cross-regional analysis of China, this article shows that the China model view is factually false and the universal model view is factually true. It is the marketization and development of non-state sectors, rather than the strong power of government and the state sector, that have driven the Chinese economy to grow fast and to be increasingly innovative. If China wants to sustain its economic performance, it must stay on the way to continuing marketization. Otherwise, China will fall into stagnation.     

Valuation effects of corporate social responsibility

This paper develops a valuation model of the firm that provides for the expenditure of corporate resources in support of community, social or environmental causes. We show that under certain circumstances CSR expenditures create value for the firm. We also test our model by simulations and confirm that, at least under some conditions, CSR does pay off in the form of value creation.     

Corporate Stock and Bond Return Correlations and Dynamic Adjustments of Capital Structure

This paper analyses the effects of dynamic correlations between stock and bond returns issued by the same firm on the speed of adjustment towards target leverage. The results show that the estimated correlations are time varying, show persistence and differ among firms. Analysis of the potential explanatory variables reveals that the correlations decrease with negative expectations about future aggregate risks, but only for firms with a low default probability. In contrast, correlations are positively associated with specific risk measures, especially idiosyncratic stock risk and financial leverage. The positive relationship between the correlations and the leverage ratio suggests that target leverage can be achieved faster when the stock–bond correlation is high. Our results show that this is the case.