互联网免费服务价值核算研究

近年来,越来越多的企业选择以低廉或免费的价格为居民提供互联网服务,但产出价值和消费行为却无法在GDP核算中体现。服务业产出被低估一直为学术界所讨论,在此背景下,互联网经济下创新的免费商业模式对传统核算理论的挑战成为本文研究切入点。本文在“互联网免费服务与顾客价值”的易货交易框架下对其价值核算展开研究,将互联网免费服务价值核算与数据资产核算联系在一起,使数据成为连接互联网免费服务与国民经济核算中生产、消费、收入核算的桥梁。文章最后通过模拟核算案例表现了互联网免费服务核算对不同账户的影响,建议对住户部门的生产、消费与收入各增加一笔虚拟处理,对企业的生产、收入及资产也各增加一笔虚拟处理,且这6笔虚拟价值相等。     

Material hardship and 529 college savings plan participation: The mitigating effects of Child Development Accounts

Experience of material hardship can adversely affect a family’s ability to make long-term investments in children’s development. We examine whether material hardship is associated with one indicator of such investments: participation in a tax-advantaged college savings plan (529 plan). Data for this study come from the SEED for Oklahoma Kids (SEED OK) experiment, an intervention that offers Child Development Accounts with financial incentives to encourage the accumulation of college savings for children from the time of their birth. Results show that material hardship is negatively associated with 529-plan participation, and this association varies by treatment status. At all levels of material hardship, treatment-group mothers are more likely to hold accounts than control-group mothers. These findings suggest that CDAs can be a useful policy tool to support families’ financial preparation for college.     

中国投资者的风险偏好

 投资者如何分配家庭资产，为个体的风险偏好研究提供了重要的信息。本文采用奥尔多投资研究中心《城市投资者行为调查问卷》的调查结果，从投资者对风险资产需求这一角度，详细研究哪些因素会显著影响投资者的风险偏好，以及不同群体投资者风险偏好的异质性问题。研究结果表明：投资者的财富水平、受教育程度、健康状况、收入水平和是否抚养小孩都是影响投资者风险偏好的重要因素。同时，不同群体风险偏好的表现有差异。研究中国投资者风险偏好的异质性，可以为进一步研究投资者的金融资产决策、储蓄行为、财富积累过程以及不同群体对宏观经济政策的反应提供依据。     

The Assets Agenda and Social Policy

The assets agenda or asset-based welfare has provoked much interest in recent times. This approach insists that the stock of assets that a person owns is an important element of well-being. The assets agenda is not a unified body of thought. However, there is a common failure to distinguish between these different parts, and this clouds rather than clarifies debates. This article seeks to add analytical clarity to current debates about asset-based welfare. I distinguish between social policy and citizenship, and consider their implications for social policy. This discussion is important because analytical clarity is a precondition for a balanced assessment of asset-based welfare.     

Household debt and financial assets: evidence from Germany, Great Britain and the USA

Summary.  We explore the determinants of debt, financial assets and net worth at the household level by using survey data for Germany, Great Britain and the USA. To identify which households are potentially vulnerable to adverse changes in the economic environment, we also explore the determinants of a range of measures of financial pressure: the probability that a household has negative net worth; the debt-to-income ratio; mortgage income gearing; the saving-to-income ratio. Our empirical findings suggest that the poorest and the youngest households are the most vulnerable to adverse changes in their financial circumstances.     

国有资产管理机构的法律地位研究

从1988年的国有资产管理局到2003年的国有资产监督管理委员会，国有资产管理机构模式在不断创新。尽管我国目前将国资委定位为“出资人”的角色，将管资产、管人和管事相结合，但在法律上却没有一个明确的定位，其自身的性质、工作目标及运作模式等诸多方面还存在不少问题。围绕国有资产管理机构的主体定位，研究国有资产管理机构的设置、法律性质及其权利。     

农村集体资产管理若干问题研究

以农村集体资产的相关法律问题为研究视角,围绕农村集体资产的管理主体、成员资格、收益分配、财产处置、管理体制等问题开展研究,并提出有关建议和对策,以资引起有关方面对农村集体资产管理问题的重视。     

资产收益估价思想的历史考察

收益还原估价法是现代资产估价理论三大基本估价方法之一,古典经济学家配第提出了资产收益估价的思想萌芽,新古典经济学家马歇尔发展了资产收益估价思想,提出了系统的资产收益估价理论与基本模型,为资产收益估价理论的形成做出了重要贡献,他们的价值思想和资产估价思想至今仍为经济界和资产评估界广为使用,并形成了现代资产收益估价体系的理论基石,对现代资产估价理论产生了重大影响。     

金融资产管理公司：激励与约束

依据现代企业管理理论 ,金融资产管理公司激励和约束机制的现状存在激励手段单一 ,约束松散等缺陷。为此应改革经营者任命和分配制度、建立经济责任审计制度和决策失误的追究制度 ,强化约束机制     

资产证券化基本法律问题之探讨

资产证券化是 2 0世纪最重大的金融创新之一 ,它在中国的推行是必然的。但目前我国的资产证券化刚起步 ,实践经验贫乏和稀缺 ,有关理论也很模糊且存在颇多分歧 ,导致了建立资产证券化法律制度的工作因没有明确的指导原则和标准而滞后。本文暂不讨论资产证券化涉及的具体法律问题 ,而是在分析资产证券化的资产和证券的特点和范围之后 ,概括出资产证券化的法律内涵 ,在此基础上抽象出资产证券化法的价值 ,以期使资产证券化的基本法律问题引起更多思考