Drivers of research impact: evidence from the top three finance journals

We study the characteristics of all published papers in the top three finance journals (JF, JFE and RFS), and how these paper characteristics affect the number of citations in Google Scholar and the Web of Science database. First, we find the characteristics in the universalist perspective remain constant while the characteristics in the constructivist and presentation perspectives increase over time. Second, some characteristics are significantly different between the high-impact and the low-impact papers. Third, paper quality, research method, journal placement and paper age are the most important drivers. Last, different drivers play different roles in different journals.     

Trade-offs between Asset Location and Proximity to Home: Evidence from REIT Property Sell-offs

The Journal of Real Estate Finance and Economics - We examine property sell-offs by real estate investment trusts (REITs) and find that investors respond favorably to sales of properties located...     

我国大中城市经济适用房有效供求均衡度研究——基于“非均衡计量模型”的实证分析

本文以我国大中城市经济适用房的有效供求为研究对象,通过构建非均衡计量模型,采用我国33个有代表性的大中城市2000—2007年相关统计数据进行实证分析,揭示了近年来我国大中城市经济适用房有效供求的真实情况。研究发现,房地产市场2004年以来出现的新一轮房价飙升,使得我国经济适用房市场出现了明显的供求失衡现象。为了扭转上述现象,本文给出了一些政策建议,包括增加经济适用房的供给、对经济适用房进行合理规划等。     

政府间转移支付、物流专业化与企业出口行为

文章以政府间转移支付、物流专业化影响企业出口行为的理论为基础,采用2000-2013年中国县级财政经济统计数据以及中国工业企业微观数据,运用Heckman两阶段法探究政府间转移支付、物流专业化与企业出口行为的总体关系。研究发现,政府间转移支付显著推动企业出口参与度的提高和出口规模的增长,物流专业化对上述企业出口行为均有显著的积极影响,政府间转移支付在物流专业化与企业出口行为的关系之间呈现显著的负向调节作用。在通过解决变量内生性问题、消除分配政策影响、考虑新冠肺炎疫情等外生冲击影响等一系列稳健性检验后,上述结论依然成立。进一步对政府间转移支付的异质性分析结果显示,一般性转移支付与物流专业化的交互项对企业出口参与度的回归结果变为正向显著。中介效应检验表明,政府间转移支付主要通过协调区域经济发展、基本公共服务均等化、改善财政收支结构促进企业自身出口参与和出口规模扩张;物流专业化主要通过物流规模扩张和物流效率提升促进企业出口二元边际增长。在新冠肺炎疫情长期持续和当前复杂艰难的国际贸易形势下,这一研究对我国继续优化政府间转移支付分配结构、强化物流专业化比较优势,进一步释放企业出口潜力,畅通国内国际经济双循环具有重要参考价值。     

Institutional common ownership and firm value: Evidence from real estate investment trusts

This paper contributes to the ongoing debate about whether and how institutional common ownership (ICO) affects firm behavior. Using a sample of equity real estate investment trusts (REITs), which provide significant advantages for isolating a monitoring channel, we find a robust and positive relation between ICO and REIT firm value. The positive relation between ICO and firm value is driven mainly by motivated investors and becomes stronger when we construct our ICO measures using blockholdings. Our difference‐in‐differences analysis, using mergers between institutional investors, suggests a causal relation exists between ICO and firm value. After investigating various channels through which ICO could affect firm behavior, we conclude that asset allocation decisions and performance are the most plausible explanations. Our finding that the monitoring associated with ICO aids managers in their portfolio disposition strategies further supports this conclusion. This enhanced monitoring leads to increased property portfolio returns, as well as more geographic diversification.     

浅谈道路勘测设计程序

道路勘测设计是根据设计任务书提出的公路路线,或按照城市规划所拟定的城市道路路线,进行查勘与测量,取得必要的勘测设计资料,以便按照规定编制设计文件。设计要体现国家有关的方针、政策,切合实际,技术先进,经济合理,安全、适用、美观并符合交通工程的要求。     

Do Imported Commodities Cause Inflation in China? An Armington Substitution Elasticity Analysis

Based on the perspective of Armington substitution elasticity, this article researches the price transmission effect of China’s imported commodities. First, this article focuses on the theory of Armington substitution elasticity of nonhomogeneous products and then estimates the overall level of Armington substitution elasticity of China’s imported commodities. Second, this article studies the fluctuation trend in Armington substitution elasticity’s estimations using a state space model. The results of this article indicate that the value of Armington substitution elasticity of China’s imported commodities is negative and decreased significantly after the international financial crisis, which means that the relationship between China’s imported commodities and domestic products is complementary rather than substitutional. Moreover, this article finds evidence of the price transmission effect in China’s imported commodities. However, this effect is not obvious and weakened after the international financial crisis. Finally, we conclude that, if it wishes to prevent serious inflationary problems in China, the Chinese government should pay attention to the price of domestic products instead of focusing on the hazards of imported inflation (deflation).     

浅析多媒体教学与当今俄语教学的一体性

随着计算机教学的兴起和发展使当今的教学手段,教学方法,教学理论以致教育思想都发生了变革,赋予了新时代外语教学的开放性,生动性,个性化等新特征.多媒体辅助教学对传统的俄语教学方式提出了新的挑战,也为提高俄语教学质量提供了可能性和有利条件.     

红树林生态系统服务功能价值分析与评价

红树林生态系统具有强大的生态功能,定量评价有利于更好地认识和重视其生态功能.文章在分析和总结的基础上,阐述了红树林生态系统的生态功能类型,并根据两个估算实例,探讨红树林生态系统服务功能价值估算方法体系,最后针对目前估算过程存在的不足进行了分析.     

浅谈道路横断面设计

道路横断面组成及类型;行车道、路肩、人行道的宽度和横坡度;中间带、路侧带的设置;平曲线加宽、超高的原因和计算方法;爬坡车道与避险车道的设置;行车视距及视距保证;横断面设计方法、土石方数量计算及调配等问题。