关于四川天然气资源最佳替代时间的探讨

以四川盆地为例，运用数学模型，作者对盆地中天然气资源的合理开采与最佳替代时间进行定量分析，并从经济学的角度推导了天然气资源耗竭及替代发生的条件，在力图保证利润最大化的前提下，对天然气资源实行逐步替代，文章为进一步研究四川天然气资源的有效利用提供了一一的理论依据。     

学生期待视域下的《思想道德与法律基础》课教学改革探析

为了提高《思想道德与法律基础》课的针对性和实效性,使其成为学生"真心喜爱,终身受益"的课程,笔者就商洛学院学生对这门课的期待进行了实际调查,并根据教学规律及学生在教学内容、教学方法、师生沟通、课程评价等方面的期待,提出了扩充法律内容、采用研究性学习、多元评价等改进措施。     

A Reexamination of Behavior in Experimental Audit Markets: The Effects of Moral Reasoning and Economic Incentives on Auditor Reporting and Fees*

This study uses experimental markets to investigate how moral reasoning influences auditor reporting under different levels of economic incentives. In each multiperiod market, auditor subjects could either (1) misreport low observed outcomes as high and thereby reap economic advantages at the expense of third‐party investors, or (2) truthfully report low observed outcomes as low but thereby forgo the economic advantages of misreporting. We extend the Calegari, Schatzberg, and Sevcik 1998 experimental‐markets setting to incorporate moral reasoning, and test hypotheses based on the economic model of Magee and Tseng 1990 and the neo‐Kohlbergian moral reasoning framework of Rest, Narvaez, Bebeau, and Thoma 1999. We document a significant effect of moral reasoning on auditor behavior. Specifically, we find that misreporting and premium fees are more likely with higher than with lower moral reasoning subjects, and the moral reasoning effect diminishes as economic penalties increase in the market. These findings provide valuable insights for specifying the determinants of auditor misreporting, the observable behaviors that signal its existence, and the institutions that can prevent its occurrence in the market. We conclude that the relation between moral reasoning and behavior is more complex than commonly assumed in the accounting literature, and identify directions for future research.     

网络时代学校德育工作的新思考

21世纪是网络时代。网络在给人类带来进步的同时，也对人类（特别是青年学生）的社会行为及人生观、价值观等带来了消极影响，从而使学校德育工作面临着新的机遇和挑战。如何迎接网络挑战，探索新的育人之路，这是我们德育工作者必须认真研究的重要课题。     

艺术价值构成中的美和道德

关于艺术的价值构成问题一直是一个争论不休的话题,本文通过纵向和横向两方面的考察,对中外古今存在着两种完全对立着的艺术价值论--道德价值说和审美价值说做了深入剖析,在此基础上指出艺术的价值实现体现于艺术文本对审美与道德两个层面的价值关怀,因此本文立足于当下艺术创作的现实,强调在艺术价值的全面实现中,偏废任何一面都会使艺术受到损害.     

DELEGATED PORTFOLIO MANAGEMENT: A SURVEY OF THE THEORETICAL LITERATURE

Abstract.  This paper provides a selective review of the theoretical literature on delegated portfolio management as a principal–agent relationship. The main focus of the paper is to review the analytical issues raised by the peculiar nature of the delegated portfolio management relationship within the broader class of principal–agent models. In particular, the paper discusses the performance of linear versus nonlinear compensation contracts in a single-period setting, the possible effects of limited liability of portfolio managers, the role of reputational concerns in a multiperiod framework, and the incentives to noise trading. In addition, the paper deals with some general equilibrium dimensions and asset pricing implications of delegated portfolio management. The paper also suggests some directions for future research.     

Capital market equilibrium with moral hazard and flexible technology

(Magill, M., Quinzii, M., 2002. Capital market equilibrium with moral hazard. Journal of Mathematical Economics 38, 149–190) showed that, in a stockmarket economy with private information, the moral hazard problem may be resolved provided that a spanning overlap condition is satisfed. This result depends on the assumption that the technology is given by a stochastic production function with a single scalar input. The object of the present paper is to extend the analysis of Magill and Quinzii to the case of multiple inputs. We show that their main result extends to this general case if and only if, for each firm, the number of linearly independent combinations of securities having payoffs correlated with, but not dependent on, the firms output is equal to the number of degrees of freedom in the firm’s production technology.     

A theory of predictable excess returns in real estate

A principal-agent model is employed to characterize the equilibrium mortgage contract. The value of a house depends on the actions of its owner but affects the wealth of both the owner and the lender who writes the mortgage contract with which the house is purchased. Because of this, the buyer is exposed to moral hazard. In some situations, this can lead to inefficient maintenance and predictable excess returns to home ownership. Even though there are potential buyers willing to pay back more money, the bank will not write loans for these consumers because of the adverse incentive effects of such an action.     

Dynamical analysis of corporate bonds based on the yield spread term-quality surface

Our aim of this research is to propose a model which estimates implied relative credit reliability from the yield spread of defaultable bonds and evaluates their spread risk. We introduce “yield spread term-quality surface” (YSTQS) which is defined on the space of duration and credit reliability of the issuers, and express their yield spread. First, we review the general pricing theorem of defaultable bonds with unpredictable recovery in the no-arbitrage context based on the external hazard rates. Second, we show that the dynamics of state variables determine the shape of the YSTQS, and they drive the YSTQS if the loss-adjusted hazard rates are described by a function of them. Finally, we show an empirical analysis of our model with daily yield spread, duration, and the credit ratings of corporate bonds.

高层管理者应具备品德的实证研究

本项研究以高层管理者应具备的品德作为研究对象,对340名在读MBA学员进行了问卷调查。研究发现,责任心、守信、自信、创新、团队合作、进取、公正和坚韧不拔被认为是最重要的品德,而无私奉献、平易近人、谦虚、坦率、热忱、关心人、忠诚、廉洁则处于相对次要的位置。