银行保险的制度变迁理论分析以及对我国的启示

20世纪80年代以来,无论是一直实施混业经营的欧洲,还是近几年重新走上混业经营之路的美国,银行保险都成为一种潮流和趋势。银行保险业务的产生及发展,既源于微观领域经营环境和竞争环境的变化,也源于宏观领域制度管制的放松和信息技术的迅猛发展,更源于银行保险经济学机理带来的范围经济和协同效益。银行保险作为一种制度创新的产物,更多地体现为从销售渠道创新到业务产品创新,再到组织模式创新的金融一体化的制度变迁过程。本文从制度变迁理论的角度对银行保险的产生动因以及演变发展进行分析,以期对我国银行保险的走向提供借鉴。     

制度变迁内部动力机制分析

人们对需要和利益的追求是生产力发展和制度变迁的内在主体动因,生产力的发展是制度变迁社会进步的最终动力,只有以发展生产力为切入点才能从根本上推动制度变迁的进程。因此,制度变迁和具体制度安排的调整要以满足人们的需要为出发点,以尊重每个人切身利益为主要手段,才能充分调动制度变迁主体的积极性和内在动力。     

企业组织变革中的冲突管理研究

中国的企业面临前所未有的复杂的市场环境。组织重组,组织流程再造,公司股权体制改革……企业或多或少都在进行这样或那样的组织变革,在变革过程中,冲突的产生是不可避免的。对于变革中的冲突应该怎样进行有效的管理是关系到变革成败的重大问题。本文指出应该区分变革过程中的建设性冲突和破坏性冲突,并针对不同类型的冲突采用与之相适应的冲突管理方式。     

The potential benefits of herbicide-resistant transgenic rice in Uruguay: Lessons for small developing countries

In many developing countries, the potential benefits from adopting a transgenic variety developed by a multinational corporation are limited by the crop’s small production base. This paper presents an ex-ante evaluation of the economic impact of herbicide resistant transgenic rice in a small developing country, Uruguay. To fully account for the multinational’s market power, the firm’s seed markup is assumed to affect the adoption rate for the variety. Stochastic simulation techniques are employed to understand how potential benefits may vary with changes in technology, yield, costs, and adoption parameters. The results indicate a $1.82 million mean net present value for producers from the development and utilization of transgenic rice in Uruguay and $0.55 million for the multinational. These relatively small multinational firm benefits suggest that a firm will not undertake significant efforts to develop transgenic varieties adapted to local conditions without either strategic partnerships with local institutions or access to wider regional markets.     

银行保险的制度变迁理论分析以及对我国的启示

20世纪80年代以来，无论是一直实施混业经营的欧洲，还是近几年重新走上混业经营之路的美国，银行保险都成为一种潮流和趋势。银行保险业务的产生及发展，既源于微观领域经营环境和竞争环境的变化，也源于宏观领域制度管制的放松和信息技术的迅猛发展，更源于银行保险经济学机理带来的范围经济和协同效益。银行保险作为一种制度创新的产物，更多地体现为从销售渠道创新到业务产品创新，再到组织模式创新的金融一体化的制度变迁过程。本文从制度变迁理论的角度对银行保险的产生动因以及演变发展进行分析，以期对我国银行保险的走向提供借鉴。     

The REIT Modernization Act of 1999

This article examines two effects of the passage of the REIT Modernization Act (RMA) of 1999: its impacts on REIT shareholder wealth and changes in REIT systematic risk in the period following its passage. The results indicate a modest positive wealth effect associated with the legislative events leading to its enactment. Our estimates of the wealth gain probably underestimate the true wealth gain because of the partially anticipated nature of the legislative process. We also document a significant decline in the systematic risk of REITs subsequent to the passage of the RMA. The evidence suggests that this decline is not attributable to a provision of the RMA that allows REITs to establish taxable subsidiaries.     

Accounting for decarbonisation and reducing capital at risk in the S&P500

This article accounts for carbon emissions in the S&P 500 and explores the extent to which capital is at risk from decarbonising value chains. At a global level it is proving difficult to decouple carbon emissions from GDP growth. Top-down legal and regulatory arrangements envisaged by the Kyoto Protocol are practically redundant given inconsistent political commitment to mitigating global climate change and promoting sustainability. The United Nations Environment Programme (UNEP) and European Commission (EC) are promoting the role of financial markets and financial institutions as drivers of behavioural change mobilising capital allocations to decarbonise corporate activity.     

Carbon taxes and the double dividend hypothesis in a recursive-dynamic CGE model for Spain

A carbon tax is potentially a policy that can reduce CO₂ emissions and mitigate climate risks, at lowest economy-wide costs. We develop a dynamic CGE model for Spain to assess the economic and environmental effects of a carbon tax, and test the double dividend (DD) hypothesis. We simulate the impact of three carbon taxes: €10, €20 and €30 per ton of CO₂. For each tax, four ‘revenue recycling’ scenarios are examined: a reduction of taxes on capital, on labor, on value-added tax, and a scenario in which revenues are not recycled. We find a DD for taxes of €10/ton and lower, within five to seven years of implementation. We estimate an annual CO₂ emissions reduction of around 10% with this tax. Under some circumstances, the DD can be achieved for a tax of €20/ton. In any case, recycling revenues to cut pre-existing taxes reduces costs of imposing carbon taxes.     

Risk regulation,community pressure and the use of management accounting in managing climate change risk: Australian evidence

This exploratory study is amongst the first to investigate how companies perceive the regulation of carbon emissions and the pressure exerted by the community in an environment characterised by risk and uncertainty. Semi-structured interviews were conducted among 39 executives who were directly involved in carbon emissions management in 18 large listed Australian companies. Consistent with Prospect Theory, we find that decision-makers are threat biased and are more likely to take immediate actions when climate change issues are framed as threats as opposed to opportunities. From the interview data, it is seen that managers use management accounting techniques as a risk management tool in mitigating risks associated climate change issues. Furthermore, this use of management accounting appears to be driven primarily by the protection of economic interests, regulatory pressure and reputational pressure. The study provides insights into how perceptions of climate change uncertainties and external pressure for disclosure of emissions information influence companies to use management accounting in managing climate change risk.     

The impact of population growth and climate change on food security in Africa: looking ahead to 2050

Providing nutritious and environmentally sustainable food to all people at all times is one of the greatest challenges currently facing society. This problem is particularly acute in Africa where an estimated one in four people still lack adequate food to sustain an active and healthy life. In this study, we consider the potential impact of future population growth and climate change on food security in Africa, looking ahead to 2050. A modelling framework termed FEEDME (Food Estimation and Export for Diet and Malnutrition Evaluation) was used which was characterized to model the impacts of future climate changes (utilizing the Intergovernmental Panel on Climate Change Special Report on Emissions Scenarios projections) and projected population growth on food availability and subsequent undernourishment prevalence in 44 African countries. Our results indicate that projected rapid population growth will be the leading cause of food insecurity and widespread undernourishment across Africa. Very little to no difference in undernourishment projections were found when we examined future scenarios with and without the effects of climate change, suggesting population growth is the dominant driver of change. Various adaptation options are discussed, such as closing the yield gap via sustainable intensification and increasing imports through trade and aid agreements. These strategies are likely to be critical in preventing catastrophic future food insecurity.