Lp空间上线性回归方程回归系数的估计

本文讨论了多元线性回归方程参数的L^p估计问题。首先采取消除方程中参数“。的技术,化参数估计为对回归系数的估计,然后进一步将问题转化为一个单目标数学规划模型,利用能自动搜索最优解的电脑软件,十分方便地求出规划模型的最优解。特别对一元回归方程,在消除参数a0后,还可以直接利用普通一元函数求极值的方法,求出回归系数的估计。     

The Impact of Non-Labor Income Given Job Heterogeneity on Household Time Allocation: The Evidence from China

This paper proposes a theoretical framework based on new household economic theories. A dataset from the 2006 China Health and Nutrition Survey (CHNS) is used. Given heterogeneity in major family members’ jobs, the effect of non-labor income on household time allocation is discussed under two scenarios: jobs with flexible work hours and jobs with fixed work hours in the market. Based on the nature of the employer the major family member works for, employers can be categorized into four categories: government-owned, family contract, privately-owned, and foreign-funded. Each of the four categories is used for dissecting the data into different sets for analysis by category. The results imply that job heterogeneity is significantly correlated to household time allocation. An increase in non-labor income results in a decrease in the time allocated to housework for all households. However, leisure time is allocated differently among different households due to job heterogeneity. An increase in non-labor income leads to less leisure time for households working for government-owned or foreign-funded enterprises, and more leisure time for households working for family contract or privately-owned enterprises.     

中国制造业集聚的实证研究：基于企业规模异质性视角

本文基于中国制造业集聚的数据,从企业规模异质性视角出发,检验中国制造业集聚经济效应。首先考察影响制造业集聚的一般因素,然后重点考察了企业规模因素对集聚经济的影响机制。研究发现：除了运输成本优势、劳动力成本等影响制造业集聚的一般因素之外,企业规模异质性也对集聚经济效应产生影响。最后通过构造隐含企业规模因素的集聚经济新变量,对企业规模异质的集聚经济效应进行检验。本文的研究发现,小型企业的专业化经济和竞争效应大于大中型企业。这一结论不仅反映了不同规模企业对制造业集聚影响的差异,也说明了小型企业对制造业集聚的重要性。     

基于投资者异质性信念的证券定价模型——对我国股票市场价格的实证检验

投资者异质性信念的相互作用影响着证券价格,证券市场上的各种证券需求与供给关系,往往表现为投资者各种不同信念的对抗和交融。本文以悲观信念（看多）和乐观信念（看空）之间的相互作用为例,研究了异质性信念对资产均衡定价的影响,并以我国股票市场的机构投资者信念为对象进行了实证检验,得出我国股票市场投资者信念与证券价格相互作用的结论。本文的建议是在投资过程中,准确分析市场中投资者的异质性信念结构,尤其是资金雄厚的机构投资者的信念结构至关重要。     

运用汽车生产商知识对不同类型供应商技术创新的促进作用

基于通过交叉供应商在知识创造能力和与生产商技术相似度两个维度的异质性,将供应商分为4类。采用专利数构建计量指标,探索了不同类型的供应商在技术创新中运用生产商知识的效果。非参数检验与负二项回归结果证明了供应商异质性的存在。研究结果还显示:能力弱的供应商运用生产商知识能获得更好的创新成果--无论它们与生产商技术的相似度高低与否;能力强的供应商不能通过运用生产商知识获得高水平的创新成果。     

Risk Preferences,Production Risk and Firm Heterogeneity*

A new technique is proposed for deriving the risk preference function under production risk and expected utility of profit maximization. The derivation depends on neither a specific parametric form of the utility function nor any distribution of the error term representing production risk. The proposed risk preference function is flexible enough to test different types of risk behavior and symmetry of the output distribution. Furthermore, our production risk specification allows for inputs with positive and negative marginal risk. The econometric model accommodates production risk, risk preferences and firm heterogeneity simultaneously. Norwegian salmon farming data are used as an application.     

能源错配对制造业碳排放效率的影响研究

能源要素作为考察资源配置效率不可或缺的因素,其配置是否有效与经济和环境的发展息息相关。为了判断我国制造业是否存在能源错配现象,厘清行业异质背景下能源错配影响碳排放效率的理论机制,基于2012—2017年制造业细分行业的面板数据,在测度行业能源错配指数基础上,构建计量模型实证检验能源错配对碳排放效率的影响。研究结果表明:(1)制造业各行业间存在不同程度的能源配置扭曲。(2)改善能源错配显著影响行业碳排放效率,但行业异质性使得影响的程度和方向有所不同。研究结论对宏观角度及时调整行业能源配置、加强环境保护约束,完善环境补偿机制、引导低碳创新技术研发具有重要政策启示。     

机构投资者持股、治理环境与审计意见购买

以2003—2018年A股上市公司为样本的分析表明,机构投资者持股能显著抑制基于签字审计师变更的审计意见购买行为。这种抑制作用的发挥需要依赖良好的内外部治理环境,因机构投资者类型而存在显著差异,但不因机构投资者稳定性或专注性而发生显著变动。此外,在控制持股比例后,机构投资者数量的抑制作用不再显著。上述结果为机构投资者治理成效提供了积极证据,也为相关部门更好地培育中长期投资者、提高上市公司质量提供了借鉴。     

PERSONALITY TRAITS AND THE PERCEPTION OF MACROECONOMIC INDICATORS: SURVEY EVIDENCE

I examine the determinants of both perceived inflation and unemployment in one single survey and include Big Five traits in the analysis. This is the first survey on this topic in Germany. My sample consists of 1771 students from different fields and levels. Using PhD students’ estimates as a reference, I create categories for underestimation and overestimation of both variables. Multinomial logit regressions show that females overestimate both variables. Education and news consumption reduce misestimation. A higher level of Neuroticism is related with a higher probability to overestimate unemployment. Overstating (understating) one indicator is associated with overstating (understating) the other.     

Parental Compensatory Behaviors and Early Child Health Outcomes in Cebu, Philippines()

A dynamic optimization model of parents choosing investments in their children's health motivates an empirical model of parents' choices of health inputs for their children and the impacts of these decisions on their children's subsequent health. Estimates of the child health input demand functions and the child health production functions from the Cebu Longitudinal Health and Nutrition Survey accord with the prediction that optimizing behavior results in higher levels of aggregate child health. Observable parental behaviors respond to the physical developmental status of their children. These parental responses appear to yield large and statistically significant improvements in children's early physiological outcomes. However, because some health inputs choices are not observable, it is impossible to ascertain whether these measured effects are due solely to variations in the observed input choices.