农业劳动力老龄化对土地利用效率的影响

通过构建农业劳动力老龄化—要素投入—土地利用效率的理论分析框架,从个体维度、家庭维度实证分析劳动密集型农产品生产中农业劳动力老龄化对土地利用效率的影响。研究表明：随着决策者年龄增加,倾向于依靠自我剥削机制增加自用工投入,家庭老龄化程度负向影响自用工投入、资金投入,对土地利用效率产生消极影响;增加劳动、雇工、资金投入有利于提高土地利用效率,但土地净生产率更依赖于农户自有生产要素。决策者受教育程度、农业机械固定资产原值、苹果收入占比、土地流入、细碎化程度、有效灌溉面积占比、是否获得政府补贴正向影响土地利用效率,决策者年医疗费用、家庭土地规模、自然灾害、村里是否有技术员负向影响土地利用效率。据此,应通过引导土地合理流转、关注农民健康与收益分配化解农业劳动力老龄化的消极影响,通过向农民投资、强化补贴与灾害预警增强农户的土地利用能力。     

Consumer Capital Market Constraints and Guaranteed Renewable Insurance

This paper analyzes a market in which individuals can purchase guaranteed renewable insurance policies to insure against the risk of loss in the current period and the risk of an increased probability of loss. Individuals who cannot borrow will purchase partially guaranteed renewable insurance at most. Relatively impatient individuals may purchase policies with no guaranteed renewability features. Without borrowing, the results are similar regardless of whether consumers can save.     

个人投资高等教育的约束条件和改革思路

教育经济学家的研究表明,教育投资收益率随教育层次的提高而递减,因此政府的公共教育投资更多的集中于中低层次的教育,是更有利于教育资源的优化配置的;高等教育则可放开走市场化的道路,特别是居民储蓄在总储蓄中所占的份额越来越高时,高等教育的投资主体从政府转换成个人已具备了基本的条件。本文从当前个人投资高等教育所遇到的约束出发,从放松约束条件的角度探讨了高等教育改革的思路。     

农户正规信贷约束及其影响因素的实证分析——基于浙、晋、甘三省987户农户的实地调查

发展中国家和地区农户因为缺乏有效的抵押品等原因,普遍面临严重的正规信贷约束。论文基于对浙江、山西、甘肃三省987户农户的抽样调查数据,采用二分类Logistic回归模型,对我国不同地区农户正规信贷约束的情况及影响因素进行了实证分析。分析结果显示,三省农户均面临比较严重的正规信贷约束,农户的风险脆弱性、信用状况以及在农信社是否有存款等因素对农户正规信贷约束在统计上有非常显著的影响。     

民营金字塔企业终极所有者融资约束与非效率投资行为研究

在对金字塔企业终极所有者投资行为进行理论分析的基础上,本文运用我国民营上市公司的非平衡面板数据,考察了民营金字塔企业终极所有者的非效率投资问题。研究发现:在受到融资约束的情况下,终极所有者会发生投资不足的行为;在不受融资约束的情况下,终极所有者出于最大化自身利益的考虑会进行过度投资;而在确保控制权的情况下,终极所有者所持有的现金流权越小,其过度投资越严重;投资者保护环境越差,越有利于终极所有者的过度投资行为。另外,文章运用理论模型探寻了终极所有者隧道挖掘与过度投资之间的关系,研究发现在不受融资约束的情况下二者呈正相关关系。     

Moving on from ramps? The utility of the social model of disability for facilitating experiences of nature for disabled children

Experiences of nature have been shown to be beneficial for disabled children; however, opportunities for disabled children to experience nature are often limited. The social model of disability may provide a theoretical base for increasing access to nature for pupils at Special Educational Needs (SEN) schools. Using results from interviews conducted with teachers from seven SEN schools, considered alongside responses from interviews with staff from six environmental centres, this paper seeks to identify the specific constraints that may act upon the opportunities for disabled pupils to visit environmental centres. The research finds that a ‘medicalised’ approach to access may impede upon environmental centres’ ability to cater effectively to the needs of SEN school groups. Dialogue between environmental centres and SEN school teachers is recommended as a means of facilitating SEN school group access.     

Choosing Priors for Constrained Analysis of Variance: Methods Based on Training Data

Abstract. This article combines the best of both objective and subjective Bayesian inference in specifying priors for inequality and equality constrained analysis of variance models. Objectivity can be found in the use of training data to specify a prior distribution, subjectivity can be found in restrictions on the prior to formulate models. The aim of this article is to find the best model in a set of models specified using inequality and equality constraints on the model parameters. For the evaluation of the models an encompassing prior approach is used. The advantage of this approach is that only a prior for the unconstrained encompassing model needs to be specified. The priors for all constrained models can be derived from this encompassing prior. Different choices for this encompassing prior will be considered and evaluated.     

银行股权关联、银行业竞争与民营企业融资约束

本文以公司参股银行为视角,在行为金融理论、企业组织理论与信贷融资理论相融合的分析框架下,构建基于异质预期的信贷配置模型,探讨了银行股权关联和银行业竞争影响民营企业融资约束的传导机理。以A股民营企业2006~2013年的数据为例,运用Heckman两阶段回归等方法,我们发现:参股银行和提高银行业竞争性均能显著缓解民营企业的融资约束,参股比例越高该效应越强,且两者在缓解融资约束方面存在替代关系。但进一步的分析显示,银行股权关联对资本配置的影响具有两面性:即银行股权关联所带来的融资优势能够减少因资金短缺导致的投资不足,但代理问题的存在也可能导致银行股权关联被部分异化,使其对于资本配置的正向作用减弱甚至被异化为利益寻租的工具。上述结论既丰富了委托代理理论与公司财务理论的相关研究成果,也有助于我们深入理解银行股权关联的"正面效果"和"负面效果"。     

通胀周期、金融抑制与企业存货的动态调整

企业存货调整策略的准确识别是有效管理通胀预期的必要条件。本文基于非线性交互效应面板误差纠正模型、从微观层面研究在通胀周期不同阶段,企业存货调整的具体特征。实证结果与反事实对比仿真实验均表明:主导企业存货策略性调整的是通胀预期而不是实际通胀水平。与社会的经验判定不同,企业存货调整对通胀表现出逆周期特征。对大部分行业而言,低通胀阶段,通胀预期的收益效应强于存货调整的成本效应,货币调控无效;高通胀阶段,通胀预期弱化,成本效应凸显,货币调控才有效。两种机制的阈值通胀率约为3.4%,所以,将通胀调控上限定为3.5%符合企业市场行为的特征。各行业存货策略对货币调控、通胀预期的灵敏度有显著差异,房地产、批发零售、机械设备较为敏感,最不敏感的是食品行业。     

Inventory Systems with Unreliable Suppliers

The aim of this article is to establish the optimal control of a periodic-review inventory system with two suppliers. One of them delivers orders immediately, the other one is unreliable delivering the orders immediately only with probability p ∈ (0, 1). Two cases are considered. In the first case, it is possible to order any inventory amount from each of suppliers. In the second case, the system budget is restricted.