房地产开发中的利益冲突及法律调控

本文拟从房地产开发中主体利益冲突为切入点,对房地产开发中各种利益主体之间博弈进行分析,并提出相应法律调控对策,以期形成优化利益与正当法律的结合,体现法律价值。     

区县党委政府保障和改善民生实践存在的问题与对策——以重庆市九龙坡区为例

一段时间以来,我国区县一级党委政府围绕保障和改善民生进行了积极实践,但也还存在保障水平不高、顶层设计不善、部门协同不力、社会参与不够等突出问题.从重庆九龙坡区的实践来看,我国区县党委政府要深入推进保障和改善民生实践,必须坚持系统抓好经济发展、提升战略认识、加强组织领导和强化科学统筹四个方面的工作.     

中国情境下企业社会资本与核心竞争力关系研究——基于多项Logit模型的实证分析

在综合分析和整理已有相关文献的基础上,在中国情境下把企业社会资本划分为纵向、横向和社会关系三个维度,并以此建立了企业核心竞争力的多项Logit回归模型。通过调查数据和采用Eviews软件对此进行实证分析,从定量的角度对企业社会资本与核心竞争力之间的关系进行研究。结果表明,企业横向关系维度对企业核心竞争力影响最大,其次是纵向关系维度,最后是社会关系维度。这一定程度上折射出目前我国经济体制改革在转型期中取得了一定的成效,企业在市场中的竞争优势由有"背景"开始逐渐向有实力转变。文章的实证研究一方面印证了学者们的理论分析,另一方面丰富了企业社会资本在中国情境下的研究。     

民生科技创新视角下的全国社会保障基金管理研究

民生科技已成为我国社会保障制度建设的重要内容与手段,全国社会保障基金管理中的民生科技应用不足导致基金目标规模不明确、投资渠道受限和社会监督缺失。文章提出从社会保障基金的行政管理、目标管理、运营管理、投资管理方面进行民生科技创新,以提高社保基金的管理水平和社会效益。     

Why do commercial banks hold government bonds? The case of Japan

We investigate the determinants of the demand for Japanese government bonds (JGBs) by commercial banks in Japan. In particular, by estimating portfolio equations for JGB demand and bank loans, based on a panel data set from the late 1990s to the 2000s, we rigorously test the popular assertion that the long stagnation of the real economy caused a shift in the portfolios of commercial banks from bank lending to JGBs. We find that the popular assertion is not empirically supported. Rather, the portfolio shift from loans to JGBs has been caused by a fall in the ratio of the loan rate to unit lending costs, or the bank’s price–cost margin for lending.     

What caused Japan’s Great Stagnation in the 1990s? Evidence from an estimated DSGE model

Despite the widespread belief that Japan’s “Great Stagnation” in the 1990s is due to the financial dysfunction after the collapse of asset price bubbles, Hayashi and Prescott (2002) argue that its main cause is a slowdown in total factor productivity growth, using a calibrated neoclassical growth model. The present paper aims to fill this gap by estimating a New Keynesian dynamic stochastic general equilibrium model augmented with a financial accelerator mechanism and associated financial shocks. Our estimation results show that even in the presence of the financial shocks an adverse neutral technology shock mainly induced the Great Stagnation and that the rate of neutral technological change is strongly correlated with all enterprises’ financial position in the Tankan. Based on these findings, the paper argues that the Great Stagnation was caused by an adverse neutral technology shock that is likely to represent a tightening of firms’ financing, which induced reduction of R&D investment and misallocation of resources as indicated in previous literature.     

企业实施电子商务风险因素的实证分析——基于皖江城市带数据

电子商务飞速发展伴随着很多风险,识别和控制这些风险能更好地促进电子商务的发展。文章以皖江城市带168家开展电子商务企业为调研对象,采用因子分析、PLS结构方程模型等方法,建立传统企业电子商务风险模型,采用实证分析方法检验了各个电子商务风险因素对电子商务实施效果的影响。结果表明,员工风险和技术风险是电子商务实施风险中最关键的影响因素,对电子商务实施效果有显著的负向影响,管理风险通过间接影响客户风险、员工风险和技术风险同对电子商务实施效果产生影响。     

社会保障支出对居民收入影响机制分析——基于江苏省13市面板数据的收敛分析

财政社会保障支出是调节居民收入的重要手段,有效缩小收入差距,保障人民生活水平是其核心功能,而实践与理论是否一致则需要进一步地研究论证。文章从区域视角切入,基于江苏省13市的面板数据,利用新古典增长理论构建模型进行收敛回归分析,对比在模型中加入社会保障支出这一控制变量前后收敛系数β的变动,从而分析社会保障支出对江苏省全省以及分别在江苏省南北内部的居民收入是起到"正向调节"抑或"逆向分配"的作用。回归结果显示,在苏南地区社会保障支出对收入起到"正向调节"作用,而在江苏全省和苏北地区则起到"逆向分配"的反效果,进而对江苏省提高社会保障支出水平,健全完善社会保障体系结构,平衡区域内部发展提出了新的挑战。     

Corporate Cash Holding in Asia

In this paper, we analyze the determinants of corporate saving in the form of changes in cash holdings for 11 Asian economies using firm‐level data from the Oriana Database for the 2002–2011 period. We find some evidence that cash flow has a positive impact on the change in cash holdings (i.e. that the cash flow sensitivity of cash is positive) and that the positive impact of cash flow on the change in cash holdings is larger and more significant in the case of smaller and presumably more constrained firms than in the case of larger and presumably less constrained firms in both developed and developing economies. Both of these findings corroborate the importance of financial constraints in Asian firms. In addition, we find that the cash flow sensitivity of cash declined after the global financial crisis and that Tobin's q has a positive impact on the change in cash holdings, especially in the case of larger and presumably unconstrained firms.