卖空压力对企业债券期限选择的影响——来自中国放松卖空管制准自然实验的证据

放松卖空管制后,投资者可通过挖掘公司“坏消息”在资本市场投资获利,在允许被卖空情境中,公司内部股东和管理层面临股价下行压力增大,会积极采取行动以规避被卖空的风险。借助中国证券市场2010年开始逐步放松卖空管制的准自然实验,以2007—2015年上市公司为样本,考察卖空压力对企业债券契约的影响。研究发现:放松卖空管制与企业债券期限显著负相关,特别是在大股东持股比例较高和管理层市场压力更大时。进一步分析发现,放松卖空管制与企业债务期限结构显著负相关,表明放松卖空管制会促使企业缩短发行债券的期限。研究结果显示,面对放松卖空管制引起的股价下行压力,公司大股东和管理层为了规避被卖空风险,会积极选择缩短发行债券期限以传递信号,证实了卖空机制对改善市场信息环境的积极作用。政府可以通过加强卖空机制制度建设和监管,推动企业调整行为决策,降低信息不对称。     

完善中国反倾销立法有关期限规定的建议

中国的反倾销立法有关期限的规定 ,在一定程度上吸纳了WTO《反倾销协议》的某些规定 ,但仍有不明确、不完备之处 ,因而迫切需要对其加以完善     

职技高师中长期发展策略探索

发展战略与策略是辨证的统一,职技高师中长期发展战略的实施离不开策略的策应与支撑。其中最为关键的是在科学发展观的指导下,遵循高等教育发展规律,紧紧围绕职技高师中长期发展战略目标,重点实施“理念引领、推进学科建设、深化教学改革、加强科技创新、进行师资建设和先进文化建设”六大发展策略。     

宗加人亲属称谓习俗述略

宗加人的亲属称谓是以自我为中心的说明式亲属称谓 ,以辈份的不同而分为己辈、父辈、子辈 ,而且在自我为中心基础上通过父母双边来推算继嗣 ;亲属群由直系或父母双方的亲属来构成。     

保持高校学生党员先进性长效机制建设的调研与思考

高校学生党员在保持党员先进性方面存在问题的主要原因,在于没有形成教育、管理、监督的长效机制。只有通过组织制度和投入的保障,实施学习教育、实践、监督及考评机制的创新,才能真正形成让学生党员长期受教育,永葆先进性的长效机制。     

论英语部分亲属词的模糊性及汉译处理

英语亲属称谓是一个貌似容易,其实很棘手的翻译问题.主要原因在于中西文化中称谓体系的不对应,而英语部分亲属词的模糊性使得翻译更为困难.引用实例说明翻译困难所在及汉译处理.     

Kinship care in Australia

Kinship care is the fastest growing form of out‐of‐home care placement in Australia. It is now a more common form of placement than foster care in some Australian states and is the most common form of placement for Indigenous children nationally. This paper reviews national data and reports ?ndings from a state (New South Wales) study of the experience of kinship carers, children and workers. Relative carers, children and child welfare caseworkers were found to identify psychological bene?ts, family obligation and criticism of other forms of care as reasons for preferring kinship care. Legislation and policy, particularly the Aboriginal Child Placement Principle, are also identi?ed as factors contributing to the rise in kinship care. Concern for the high levels of stress among carers and the low levels of monitoring of children's safety and well‐being are discussed and a stronger policy and practice response from government agencies is proposed. Indications of new policy and programme responses are demonstrated by several recent initiatives at state and national levels. Copyright © 2004 John Wiley & Sons, Ltd.     

缅甸语亲属称谓语义分析

缅甸语亲属称谓非常丰富,语义特征复杂,语义层次多样,可分为辈分、称谓人性别、亲疏、称呼场所、长幼、称呼方性别、古今等义素成分。缅甸语亲属称谓词的义位容量很大,部分称谓词有17个以上义位。但是,其构词能力较弱,在语义组合方面有不同于其他名词的特点。缅甸语亲属称谓词的语义场具有多样性、密集性和封闭性特点。     

Kinship and Population Subdivision

The coefficient of kinship between two diploid organisms describes their overall genetic similarity to each other relative to some base population. For example, kinship between parent and offspring of 1/4 describes gene sharing in excess of random sharing in a random mating population. In a subdivided population the statistic F _st describes gene sharing within subdivisions in the same way. Since F _st among human populations on a world scale is reliably 10 to 15%, kinship between two individuals of the same human population is equivalent to kinship between grandparent and grandchild or between half siblings. The widespread assertion that this is small and insignificant should be reexamined.     

重庆市城镇居民消费结构实证分析

消费结构是产业结构演进的根本动因,消费结构的合理化关系到国民经济的持续、稳定、快速和协调发展。文章采用扩展线性支出系统模型,通过消费倾向、消费弹性和基本消费支出等参数定量地考察了重庆市居民消费结构。可以看出重庆市城镇居民边际消费倾向较大,食品和居住在居民支出构成中占较重要的地位。