Nonparametric Dynamic Production Analysis and the Theory of Cost

While the dynamic theory of production provides little insight towards identifying a specific functional form for the firm's technology, dynamic production analysis has been explored traditionally in a parametric framework. A nonparametric dynamic dual cost approach to production analysis is developed in this article. Recovering technological information from intertemporal cost minimizing behavior is possible without imposing a parametric functional form on the firm's technology. Nonparametric tests to analyze the structure of a dynamic technology are presented from a dynamic cost minimizing perspective. The empirical implementation of these tests is illustrated for a balanced panel data set of Pennsylvania dairy operators during the time period 1986–1992.     

跨文化交际与外语教学

外语教学中重语言教学、轻文化教学这一现象有其产生的原因，同时也凸显了外语教学中跨文化交际技能培养的重要性。     

The government revenue and government expenditure nexus: empirical evidence from nine Asian countries

The nexus between government revenue and government expenditure has been an important topic in public economics. In this paper, we investigate evidence for cointegration and causality between government revenue and government expenditure for nine Asian countries. We use the recently developed bounds testing approach to cointegration and the conventional F-test to examine Granger causality. Our empirical results suggest that for three out of the nine countries government revenue and government expenditure are cointegrated. Our results on the direction of causation are mixed: (a) for Indonesia, Singapore, Sri Lanka in the short-run and for Nepal in both the short- and long-run we find support for the tax-and-spend hypothesis; (b) Indonesia and Sri Lanka are in conformity with the spend-and-tax hypothesis in the long-run; and (c) for other countries there is evidence of neutrality.     

基于农业产业化的河南省区域差距研究

文章通过泰尔指数发现从1990年到2005年，河南省区域经济的差距处于一个快速扩大的阶段。通过定量分析发现，河南省区域经济发展水平和发展速度与农业生产具有一定的负相关性，通过定性和定量分析发现，农业产业化对区域差距缩小具有一定的作用，但不起主要作用，一是由于目前河南省农业产业化水平相对还是比较低，农业收入还仅仅停留于农产品的买卖价格，工资性收入所占比重过低，二是农业产业化龙头企业带动能力还是比较弱，带动面小，限制了农区经济的发展水平和速度，最后提出了几点建议。     

谈谈酒店商务楼层的起源与发展

商务楼层作为一种特定的楼层，在世界各地兴起和迅速发展。通过阐述商务楼层的意义、起源与发展，揭示商务楼层与其他楼层的不同之处，目的是促使商务楼层进一步完善发展。     

Issues in the estimation and application of latent structure models of choice

Our paper provides a brief review and summary of issues and advances in the use of latent structure and other finite mixture models in the analysis of choice data. Focus is directed to three primary areas: (1) estimation and computational issues, (2) specification and interpretation issues, and (3) future research issues. We comment on what latent structure models have promised, what has been, to date, delivered, and what we should look forward to in the future.     

On the test of the correction mechanism for mis-pricing between assets using a statistical yield spread model

This paper investigates the existence of a correction mechanism for mis-pricing between Japanese stock and bond. By this correction mechanism we mean that when deviations occur from the equilibrium levels of the expected return differentials between stock and bond — the risk premium differentials, the market will tend to correct the mis-pricing and bring the expected return differentials back to the equilibrium levels. We assume that the yield spread between the predicted earnings price ratio of stock and the yield to maturity of bond reflects the risk premium between stock and bond, and estimate the equilibrium risk premium differentials and mis-prices between stock and bond by modelling their behaviors with a statistical yield spread model (SYS). Empirical results strongly indicate the existence of the mis-pricing correction mechanism, suggesting the inefficiency of securities markets.     

三线铁路荷载作用下箱梁桥荷载横向分布系数

文章运用有限元程序对三线铁路预应力混凝土连续箱梁桥进行了模拟,分析了三线铁路荷载作用下箱梁的受力特性及在各种荷载工况下荷载横向分布规律,给出了荷载横向系数的实用值。     

杠杆融资项目净现值计算方法的比较与分析

负债融资具有杠杆效应,有节税收益。计算杠杆融资项目的净现值,如仍按全权益融资项目的方法计算,其结果会有所不同,直接影响投资决策的正确性。本文介绍三种西方常用的杠杆融资项目的净现值计算方法,并对其适用条件进行比较和分析。     

The relationship between governance structure and risk management approaches in Japanese venture capital firms

This paper attempts to understand what drives Japanese venture capital (JVC) fund managers to select either active managerial monitoring or portfolio diversification to manage their firms' investment risks [J. Bus. Venturing 4 (1989) 231]. Unlike U.S. venture capitalists that use active managerial monitoring to gain private information in order to maximize returns [J. Finance 50 (1995) 301], JVCs have traditionally used portfolio diversification to attenuate investment risks [Hamada, Y., 2001. Nihon no Bencha Kyapitaru no Genkyo (Current State of Japanese Venture Capital), Nihon Bencha Gakkai VC Seminar, May 7]. We found that performance pay is positively related to active monitoring and that management ownership is positively related to active monitoring and negatively related to portfolio diversification. The managerial implication of our study is that venture capitalists should be as concerned about the structure of their incentive systems for their fund managers as they are for their investee-firm entrepreneurs. Agency theory says that contingent compensation is a self-governing mechanism for individual effort that is difficult to measure and verify. When properly applied, equity ownership and performance-based pay can have powerful influencing effects on the strategic choices of managers.