试析学生会的组织结构特征:松散联结基础上的牢固联结性

学生会作为学校党委、团委领导下的正式组织在高校的学生工作中发挥不可忽视的作用。学生会在组织结构上存在松散联结的基础,但它通过内部横、纵向的管理和外部行政系统的管理将其纳入到学校的行政体系中,并通过组织结构与组织成员理性化的结合,实现学生会组织结构的牢固联结,从而促使学生会各项工作的有序开展及目标实现。     

尿毒症透析治疗价格谈判机制研究

随着尿毒症患病率的增加,尿毒症给患者和社会带来沉重的经济负担,临床上诱导需求客观存在,给医保基金的运营也带来一定的挑战。本文就医疗保险机构建立尿毒症透析治疗价格谈判的必要性、可行性及谈判机制的构建做一些理论探讨,以期推动医疗保险机构和医疗机构尽快建立尿毒症透析治疗价格谈判机制。     

浅析高校内证卡使用问题及其解决措施

证卡和票据曾经是高校内身份识别和消费的主要方式,现介绍高校内现有证卡和票据使用现状及存在的问题,分析其原因,提出基于校园一卡通系统的解决方案,总结了使用效果,并对下一步工作进行了展望。     

The term structure of inflation expectations

We use information in the term structure of survey-based forecasts of inflation to estimate a factor hidden in the nominal yield curve. We construct a model that accommodates forecasts over multiple horizons from multiple surveys and Treasury real and nominal yields by allowing for differences between risk-neutral, subjective, and objective probability measures. We establish that model-based inflation expectations are driven by inflation, output, and one latent factor. We find that this factor affects inflation expectations at all horizons but has almost no effect on the nominal yields; that is, the latent factor is hidden. We show that this hidden factor is not related to either current and past inflation or the standard set of macro variables studied in the literature. Consistent with the theoretical property of a hidden factor, our model outperforms a standard macro-finance model in its forecasting of inflation and yields.     

U.S. Monetary Policy Surprises: Identification with Shifts and Rotations in the Term Structure

We develop a model to extract measures of monetary policy surprises from the maturity structure of the yield curve. The model endogenously allows for the fact that the yield curve may either shift or rotate in response to monetary policy shocks. A latent factor model approach with identification through heteroskedasticity harnesses the term structure to extract monetary policy shocks. The approach offers informational advantages over event studies. Results from the U.S. term structure from 1994 strongly support the hypothesis that differing term structure responses are reactions to different types of monetary policy shock, rather than differing reactions to the same policy shock.     

A New Method for Identifying the Effects of Foreign Exchange Interventions

Central banks react even to intraday changes in the exchange rate; however, in most cases, intervention data are available only at a daily frequency. This temporal aggregation makes it difficult to identify the effects of interventions on the exchange rate. We apply the Bayesian Markov‐chain Monte Carlo (MCMC) approach to this endogeneity problem. We use “data augmentation” to obtain intraday intervention amounts and estimate the efficacy of interventions using the augmented data. Applying this new method to Japanese data, we find that an intervention of 1 trillion yen moves the yen/dollar rate by 1.8%, which is more than twice as much as the magnitude reported in previous studies applying ordinary least squares to daily observations. This shows the quantitative importance of the endogeneity problem due to temporal aggregation.     

Internal pyramid structure,contract enforcement,minority investor protection,and firms’ performance: Evidence from emerging economies

This study investigates the relationship between internal pyramid structure and performance of Chinese, Pakistani, Malaysian pyramidal firms, the effect of judicial efficiency and minority investor protection on this relationship. The results show that the pyramid structure of Pakistani firms is more complicated than Chinese and Malaysian firms, both vertically and horizontally. The study finds that the impact of control layers on performance is negative and stronger than control chains. Moreover, the results illustrate that the effect of control layers on performance at Chinese firms is negative but lower than at Pakistani and Malaysian firms. However, control chains have insignificant association with performance at Chinese pyramid firms. We find that efficient judiciary abates the negative impact of control layers and chains on performance. Our results reveal that in the absence of efficient courts the minority investors’ protection have insignificant impact on the association between internal pyramid structure and firms’ performance.     

论构建适应新农村建设要求的农村商品流通渠道体系

经过30年的改革,农村商品流通发生了巨大的变化,多渠道流通成为当前农村商品流通的基本格局。但是,农村商品流通不畅问题依然没有得到根本解决,农民"卖难"问题时有发生,传统体制惯性还在发挥着作用。因此,构建适应新农村建设要求的农村商品流通渠道结构体系,有利于当前我国农村经济的发展。本文就我国农村商品流通渠道结构现状与问题进行了分析,并就构建适应新农村建设要求的农村商品流通体系提出了自己的建议。     

Existence of Lévy term structure models

Lévy driven term structure models have become an important subject in the mathematical finance literature. This paper provides a comprehensive analysis of the Lévy driven Heath–Jarrow–Morton type term structure equation. This includes a full proof of existence and uniqueness in particular, which seems to have been lacking in the finance literature so far.      

我国A股审计市场集中度的静态与动态分析

本文从静态结构变化和动态换位两个角度对2003-2005年我国A股审计市场集中度及其变化进行了研究。结果发现:(1)我国近几年来审计市场集中度的提高是由外资所的增大引起的,并非国内所合并的结果;(2)事务所换位频繁,表明的是审计市场竞争激烈,国内大型事务所的竞争优势不太明显。因此,要保证我国独立审计的质量和效率,A股审计市场结构还有待进一步的优化。