人民币行为均衡汇率及错位程度的测算研究:1978-2006

基于行为均衡汇率理论,应用多种计量经济方法对1978-2006年期间人民币实际汇率状况进行的实证分析结果表明:从名义汇率错位情况来看,1995年及以前的名义汇率都是高估的,1996-2005年的名义汇率基本上都是低估的,且低估程度在2000年达到顶点,然后逐渐下降;2005年约低估4.7%,但到2006年,受2005年人民币汇率改革的影响,名义汇率反而高估约0.9%.从实际汇率错位情况来看,1993年及以前的人民币实际有效汇率都是高估的,1994年以后,随着出口的快速增长以及美元的不断贬值,人民币实际有效汇率相对于行为均衡汇率低估程度总体上不断扩大,2005年约低估16.3%;到2006年,受2005年人民币汇率改革的影响,人民币实际有效汇率低估程度有所下降,约低估15.3%.     

开发区失地农民补偿安置及生存状况研究 ——以泰安市高新技术产业开发区为例

研究目的：通过泰安高新技术产业开发区失地农民补偿安置案例,透视开发区失地农民生存状况,发现开发区失地农民补偿安置方面的问题,找出解决开发区失地农民问题的方向。研究方法：田野调查法、对比分析法。研究结果：（1）泰安开发区土地征收补偿标准符合国家法律规定;新房抵旧屋的房屋拆迁补偿方式深受农民欢迎。（2）土地征收使当地农民就业率小幅下降,但农民就业结构明显改善。（3）开发区失地农民当前的生存状况良好,但缺乏长期的生存保障机制。研究结论：防止失地农民生存状况恶化,解除失地农民后顾之忧的根本措施在于做好失地农民的就业安置和社会保障。     

Commemorating the 50‐Year Anniversary of Ball and Brown (1968): The Evolution of Capital Market Research over the Past 50 Years

We commemorate the 50th anniversary of Ball and Brown [1968] by chronicling its impact on capital market research in accounting. We trace the evolution of various research paths that post–Ball and Brown [1968] researchers took as they sought to build on the foundation laid by Ball and Brown [1968] to create a body of research on the usefulness, timeliness, and other properties of accounting numbers. We discuss how those paths often link back to the groundwork laid and questions originally posed in Ball and Brown [1968].     

联合社何以可能——基于典型个案的实践逻辑研究

农民合作社联合社是一种典型的社会经济组织现象.目前,国外经验难以有效解释中国语境下联合社的实践逻辑,国内研究也相对缺乏系统性理论解释.本文在一种关于组织行为的新分析框架(SAGP模型:性状-行动者-治理-绩效)的基础上,结合台联九生猪专业合作社联合社的个案研究,对联合社的形成和发展进行系统性理论解释.本文指出联合社形成...     

土地整治项目协同治理：理论框架与案例研究

研究目的:归纳土地整治项目实施实践中的困境,研究土地整治项目协同治理的理论框架和典型案例,为土地整治提供理论指引和案例参考。研究方法:田野调查、访谈、问卷调查、演绎归纳法。研究结果:(1)土地整治项目实施中存在管理困境和放权忧虑两个困境,是土地整治项目协同治理分析框架的逻辑起点;(2)土地整治项目协同治理分析框架既包括内部的项目管理,也包括外部的项目治理,并且是项目管理与项目治理的内外有机系统;(3)案例研究表明在项目管理与项目治理两者协同作用下,土地整治项目能够有效实施和运作。研究结论:(1)土地整治项目协同治理的理论框架是对土地整治项目管理中的困境有效回应;(2)理论框架与案例研究表明土地整治项目协同治理能有效提高项目管理效率。     

Economic policy uncertainty and mergers and acquisitions: Evidence from China

This study examines the relationship between economic policy uncertainty and mergers and acquisitions (M&As) in China. Using all listed Chinese companies on the Shanghai and Shenzhen Stock Exchanges as well as 4188 ​M&A deals from the period of 2001–2018, we show that Chinese firms are more likely to make acquisitions during periods of high economic policy uncertainty, which contradicts the behavior of US firms. We further show that state-owned enterprises (SOEs) are less likely than non-SOEs to make acquisitions during periods of high economic policy uncertainty. SOEs are less likely to use only cash for their acquisitions during periods of high economic policy uncertainty. These results indicate the prudence of SOEs regarding acquisitions relative to non-SOEs during periods of high economic policy uncertainty. Moreover, acquisitions during periods of high economic policy uncertainty are associated with an increase in shareholder wealth for acquirers, and this wealth effect is more pronounced for SOEs.     

Considering the nuclear option: Hidden benefits and social costs of nuclear power in the U.S. since 1970

Although burning fossil fuels has environmental consequences, many countries have switched away from nuclear power in favor of fossil-fuel fired electricity production after incidents at Three Mile Island, Chernobyl, and Fukushima. This study estimates the substitution between nuclear and fossil-fuel fired electricity generation in the United States. Using an event-study framework, we leverage nuclear plant openings from 1970 to 1995 and forced nuclear plant outages from 1999 to 2014. Plant openings (nuclear outages) reduce (increase) monthly net coal-fired generation by approximately 200 GWh, implying a considerable reduction (increase) in emissions. We find that the substitution between nuclear and coal is not one-to-one, as has been assumed in prior literature. After establishing these stylized facts, we explore the potential underlying forces driving the observed substitution between coal and nuclear.     

基于校企合作的顶岗实习教学评价体系的实验研究

针对高职院校毕业生不能满足社会企业对人才质量要求的矛盾,展开了指向实践,旨在提高办学质量的"校企合作、工学结合、顶岗实习"的研究,并梳理教学评价体系的评价量表、构成要素,对培养高技能职业人才具有现实意义。通过校企合作共同制定顶岗实习教学评价体系,以保证顶岗实习的效果,使学生的职业能力达到企业的要求,实现岗位能力的"零"对接。     

战略投资者、公司治理与银行绩效——对中国城市商业银行的实证研究

基于中国8家城市商业银行的数据,采用截面数据和序列数据相结合的方法,对战略投资者参与中国城市商业银行治理的理论机理及其影响城市商业银行绩效的途径进行的分析表明:境外战略投资者可以促进城市商业银行改善公司治理,从而提升中国城市商业银行的绩效;国有股权比例与银行盈利性、第一大股东持股比例与银行资本充足率、董事会规模与银行盈利性均成负相关关系;股权集中度对银行盈利性和安全性均成正相关关系;管理层介入董事会比例对银行的盈利性和安全性的影响都不显著;独立董事比例对银行的盈利性有很强的正面影响。