The Original Maturity of Corporate Bonds: The Influence of Credit Rating,Asset Maturity,Security, and Macroeconomic Conditions

We examine the determinants of the new issue maturity of corporate bonds. As credit rating decreases, new bond issues have longer maturities, but substantial variation in maturity within each rating class remains. We seek to explain the variation of new issue maturity within credit classes. We find that asset maturity, security covenants, and macroeconomic conditions influence the new issue maturity of bonds within rating categories.     

浅析影响混凝土质量的相关因素

混凝土的质量常以28天强度作为衡量指标,并逐渐形成追求强度的倾向,以为加大水泥用量和采用早强水泥总有利于质量,并排斥使用粉煤灰等矿物掺和料和引气剂,这些都对混凝土的结构带来极为不利的影响。对于现代混凝土来说,提高强度比较容易,为此,施工人员应该深入了解混凝土的特点,并在混凝土结构施工过程中对混凝土原材料的选用与混凝土配合比参数严加控制,本文介绍了影响混凝土质量的因素。     

辽宁省大学生亚健康现状及成因研究

以辽宁省6所不同类型院校的1 200名学生为研究对象,对他们的亚健康现状和影响因素进行了调查,可以看出我省大学生亚健康检出率略高于其他省份。影响辽宁省大学生亚健康症状的主要因素:对自身健康的关注度不够、饮食不规律、缺少合理的睡眠和适当的体育锻炼、闲暇时间睡懒觉及上网聊天打游戏;学校相关部门对学生身体状况的重视程度不够,缺少家人的影响与监督;大学生对未来前程的担忧和就业的压迫感、对自身工作能力的不自信。     

基于层次分析的农业企业竞争力研究

农业是具有天然弱质性的产业,不但表现出对自然条件的高度依赖,而且还很难抵御市场风险的影响,故此从事农业的企业竞争力相对比较低下。针对这一状况,以层次分析作为研究方法,结合农业企业自身特点,通过对影响农业企业竞争力的因素进行排序、分析,找出适合其发展的拓宽融资渠道,加快人才培养措施建议。     

Non-technical skills for managing risk and performance in financial trading

Recent large-scale failures in financial institutions have been found to be caused, in-part, by human factors-related issues in financial trading. In other environments where risk management and performance are intertwined, a human factors approach is often adopted to understand how the ‘non-technical skills (NTS)’ (leadership (LD), decision-making (DM), situation awareness (SA), teamwork) of organisational actors influence outcomes. Yet, to date, there has been minimal application of human factors research in financial trading. This study (i) identifies ‘real-world’ (i.e. non-laboratory) research studies investigating the NTS important for performance in financial trading, (ii) examines and synthesises data on the NTS found to underpin good or poor performance and (iii) considers the quality and coverage of research investigating NTS in financial trading, and identifies potential areas for future research. Nineteen studies were identified through a systematic literature search and then content-analysed for associations between NTS and performance in financial trading. The review found a range of decision-making (e.g. heuristics and biases, intuitive DM, emotional regulation) and LD skills (e.g. setting standards, monitoring behaviour, encouraging speaking-up) to have been identified as important for managing risk and performance in financial trading environments. Furthermore, SA (e.g. information search and assessment strategies, vigilance, identifying ‘noise’ data) and teamwork (e.g. avoiding ‘role’ conflict, communication between traders) were found to be important, yet remain less explored within the literature, and should be the focus of future research. NTS appear essential for effective risk management within the financial sector, yet further field research is required to examine the context-relevant behaviours that underpin safe activity. This will facilitate the development of evidence-based systems for assessing and training NTS competencies.     

National politics and bank default risk in the eurozone

We study the impact of national politics on default risk of eurozone banks as measured by the stock market-based Distance to Default. We find that national electoral cycles, the power of the government as well as the government’s party ideological alignment significantly affect the stability of banks in the eurozone member countries. Moreover, we show that the impact of national politics on bank default risk is more pronounced for large as well as weakly capitalized banks.     

基于目标满意改进的辽宁农产品出口影响因素分析

辽宁是农产品出口大省,虽然出口额呈逐年上升趋势,但近几年受国内外不同问题和因素的影响,导致辽宁农产品出口出现了瓶颈。本文在总结了辽宁农产品出口的现状的基础上,探讨了辽宁农产品出口的问题,以此总结了影响出口的因素,并基于目标满意对影响因素进行了分析,最终提出了解决措施。     

Migration,Unemployment, and Skill Downgrading

In this paper, we analyze the labor market impacts of immigration under flexible and rigid labor market regimes. A general equilibrium framework is developed, accounting for skill heterogeneity and labor market frictions, where unemployed medium‐skilled manufacturing workers are downgraded into low‐skilled service jobs, while low‐skilled service workers might end up unemployed. The analytical analysis shows that medium‐skill immigration decreases low‐skilled unemployment under the flexible regime, indicating a complementarity effect, while the rigid regime induces a substitution effect, leading to low‐skilled unemployment. Moreover, it leads to wage polarization. In a numerical analysis, the economic effects of different migration scenarios are quantified.     

FDI in Sub-Saharan Africa: A longitudinal perspective on location-specific factors (2003–2010)

This paper examines the characteristics of Location Specific Factors (LSFs) in Sub-Saharan Africa (SSA) regarding inward Foreign Direct Investment (FDI) by Multinational Enterprises (MNEs). Exploratory Factor Analysis (EFA) of 758 MNEs in 2003, 1216 in 2005 and 2402 in 2010 is used to compare the variability in LSFs in ten, 15 and 19 SSA countries respectively. We find firstly the most powerful factors, influencing the political-economy and trade dynamics of hosts to FDI, stable over time. Secondly, by 2010, production inputs become the most important factor for FDI followed by political-economic stability. This result reflects findings in International Business (IB) literature. Policy implications point to unwavering need by SSA to reduce transaction costs for FDI; increase the predictability of the policy environment; and increase the productivity-adjusted cost efficiency of inputs.     

基于结构方程模型的集聚农户共生认知及影响因素分析:以重庆市为例

研究目的:探讨对集聚农户共生、集聚区土地利用率提高的影响因素,为提升农户共生的认知水平、优化农户共生关系及促进资源的节约集约利用提供有效路径及理论指导。研究方法:参与式农户调查,结构方程模型。研究结果:(1)户主自身特征、农户家庭特征、集聚共生效益特征及外部环境与政策特征这4类外源潜变量对农户共生认知产生重要影响且影响程度大小不同,其中,集聚共生效益特征的影响最为显著,外部环境与政策特征、户主自身特征和农户家庭特征的影响依次减弱;(2)是否为干部、对原集聚模式的满意度、是否促进农户生产生活条件和政府对集聚区的补贴力度分别对这4类外源潜变量具有较好的解释能力。研究结论:显化农户共生效益、增强"精英"农户及村干部的正向引导、提升农户成员受教育水平、培养农户"共生共荣"理念等是深化农户共生关系,促进和谐乡村人居环境建设的重要路径。