非正规金融低违约率的动因:基于契约治理的解释

本文基于契约治理视角,阐释了非正规金融保持低违约率的动因,并结合茅于轼在山西省龙头村的信贷扶贫案例,对非正规金融保持低违约率进行经验验证。研究表明,非正规金融内生于特定的社会网络,社会资本机制、信誉机制、群体贷款或连带责任以及灵活担保机制,有助于克服信贷过程中的道德风险与机会主义行为,降低借款人的违约率。     

被遗忘的新进知识型员工

在组织中,新进知识员工的吸收和培育是企业未来发展的保障,对新进知识员工进行轮岗和基层锻炼也是必须要走的程序,但是越来越多的企业开始关注“被遗忘的新进知识型员工”这一特殊的群体。这类员工自进入组织之后开始进行基层的锻炼,而后便一直停留在基层,缺少了必要的上升机会。本文认为这主要是由于人力资源战略部署部门与具体用人部门在用人目标上的差异所造成的。而且经过调查发现,在人力资源战略部署部门发生变革的情况下,新进员工被遗忘的可能性更大;获得晋升的新进员工更多地依靠非正式渠道;被遗忘的新进员工的离职是企业离职率居高不下的主要原因。在此基础上,本文认为应该从战略的高度来考虑部门的用人,同时努力畅通职业发展渠道。     

区域规划与人居环境创造

作者结合自身的学术研究实践,总结了我国区域规划工作的新发展.指出,应以问题为导向,以局部的突破与进展,推动区域协调发展;区域规划工作必须尊重区域特性,以创造美好人居环境.     

新农村建设中的住区规划与住宅设计

为响应国家号召,新农村规划已经在全国各地浩浩荡荡地展开。开展的过程当中也出现了很多问题,需要我们大家来思考和探讨,对目前存在的问题进行分析,从而获得社会主义新农村住区规划与住宅设计的新思路。     

非正规就业与城镇居民收入分配：1991~2009年

本文利用1991-2009年的CHNS数据使用分位数回归法及基于反事实分析的FFL分解法分析非正规就业比重及非正规就业与正规就业的收入差距变动对城镇居民收入分配的影响。结果表明：第一阶段（1991-2000）,非正规就业的比重及两者之间收入差距的增加是城镇居民收入差距扩大的重要原因;第二阶段（2000-2009）,非正规就业比重的增加依旧引起了收入差距的扩大,但两者之间收入差距的下降引起了收入差距的缩小,但前者大于后者,造成第二阶段城镇居民收入差距的扩大。     

Informal investors - A categorization,with policy implications

A number of studies concerning informal investors have been carried out over the last two decades. One main conclusion from previous research has been that the informal venture capital market is very heterogeneous, and that classifications for informal investors are needed in order to more accurately depict the informal venture capital market. In this paper we propose that the market could be divided in accordance with the informal investors' investment activity and competence. The study is based on a sample of 425 active informal investors, divided into four different categories: (1) Lotto investors; (2) Traders; (3) Analytical investors; and (4) Business angels. The empirical findings show that there are considerable differences between the four categories of informal investors; differences regarding the information sources used, the level of firm involvement, co-investing, investment horizons, and geographic preferences, to name some examples. As a consequence, each of the various informal investor types responds differently to private and public prospects or motivators. It is suggested, therefore, that the informal venture capital market could be more effectively analysed and depicted by using the proposed classifications and applying differing measures to each informal investor category.     

Value-at-Risk (VaR) Computations Under Various VaR Models and Stress Testing

SUMMARY

Bank for International Settlements (BIS) proposes that all banks calculate and report amount of market risk they incur and allocate sufficient amount of capital starting at the beginning of year 2002. BIS also suggests that value-at-risk (VaR) models in computing market risk should be used. The Turkish Bank Regulation and Supervision Agency already required all Turkish banks to compute and periodically report market risk and reserve adequate amount of capital since January, 2002. This study mimics an average trading marketable securities portfolio subject to market risk of the four largest Turkish banks. The publicly available quarterly financial reports of year 2001 for Isbank, Garanti, Yapi Kredi and Akbank are examined, and a mimicking portfolio composition is determined as bond investments; 60% in Turkish currency (TRL), 20% in American dollar (USD) and 20%in Euro (EUR). The VaR amounts of the mimicking portfolio are computed by applying Historical Simulation, Monte Carlo Simulation, Delta-Normal and Standard Methods. Finally, stress test is applied for each of the models by using crisis scenarios. The Turkish financial crises of November 2000 and February 2001 are simulated as stress scenarios. The results of stress testing reveal that all methods except standard method can stand the crisis in November 2000, but none of the models can stand the crisis in February 2001.     

西部地区新农村人居环境再修复模式的研究与分析

农村人居环境的优劣是衡量农民生活品质的重要标志。随着新农村建设的深入,农民在经济水平提高的同时,也开始关注农村人居环境的质量,他们对居住地的各种设施水平、居住环境的安全性、舒适度、便捷性、归属感等内容都有了更深层次的认知。本研究以西部地区新农村为对象,从居民情况、新村建设情况、人居环境满意度等方面对人居环境优化过程中出现的问题进行调研,探寻其产生的根源,为下一阶段的新农村建设和改造提供依据和借鉴。     

Understanding modes of civil case disposition: Evidence from Slovenian courts

We contribute to the scant empirical literature on the functioning of courts in the post-socialist world by analyzing civil case disposition in Slovenia. We first characterize basic empirical patterns in modes of civil case disposition in Slovenian local courts. We then examine court-level determinants of the incidence of in-court settlements versus trial-based judgments. Consistent with the theory that both judges and disputing parties take into account their respective private benefits and costs when choosing their preferred mode of case disposition, we find evidence that the incidence of in-court settlements versus trial-based judgments increases with the number of all case filings per judge. Thus, court resources and demand for court services influence not only total court output, as previously established in the literature, but also how cases are disposed of.     

人居环境发展中的五律协同机制研究

人居环境协调发展具有普适规律的典型特征.从环境学的角度分析了自然规律、社会规律、经济规律、技术规律和生态规律对我国传统人居环境发展演化特征的影响,从宏观和微观两个层面探讨了与市场发展相适应的人居环境和谐发展的调控手段.