The Contingent-Claims Approach to Investment Decisions*

This paper presents a contingent-claims approach to project valuation when capital expenditures are made sequentially over time. It focuses on an important facet of sequential investment projects that the firm can undertake—or pass up projects—as more information becomes available. The contingent-claims approach takes account of this important feature of firms' investment decision process, whereas the traditional capital budgeting procedure does not. Since the traditional method does not reflect the options nature of investment opportunities, it underestimates the value of sequential investment projects. As a result, a naive implementation of the traditional capital budgeting procedure could result in rejecting profitable projects. The extent of undervaluation associated with the traditional capital budgeting procedure is greater when the correlation between the random component of the future asset value and that of the required capital expenditure is smaller and/or when the growth rate of the required capital expenditure is higher.     

Pathways from workplace flexibility to turnover intention: Role of work–family conflict,family–work conflict,and job satisfaction

This study examined the prevalence of workplace flexibility and the mechanisms that allow workplace flexibility to influence turnover intentions through work–family and family–work conflicts and job satisfaction among low‐wage workers in South Korea. Participants included 250 low‐wage workers whose monthly salary was less than 2 million Korean won (approx. $1,900). The study results indicate that low‐wage workers have limited access to workplace flexibility and that workplace flexibility plays a significant protective role in reducing their turnover intention, indirectly by decreasing work–family conflicts and enhancing job satisfaction. This article also discusses the implications of these findings for labor policy and social work practice.     

大学生入党的影响因素分析——以川渝高校为例

当代大学生,特别是学生党员将成为党和国家的中流砥柱,但当前大学生党员的人生观、价值观和入党动机呈现出多元化趋势,与主流有偏差。为此,需要明确大学生入党的影响因素及影响权重,便于改进学生党建工作。从收集大学生入党的影响因素出发,归纳出16条研究项目,用SPSS数据统计软件对调查数据进行探索性因素分析和主成份因素分析,抽取出党组织培养与管理、家庭期望、借鉴因素和成长环境四个影响力最大的主成份因素。并由此探索其指导意义,首先应立足于其大学生活,从党校教学内容和管理、学生支部的建设、完善两课教育三个平台入手,创新党组织培养与管理;其次把其它几个主成份因素统筹于大学生党员成长、成才的教育中,为培养高素质学生党员营造有利条件。     

我国统筹城乡养老保险制度研究评述

在城乡二元经济结构导致城乡经济发展不平衡的大背景下,政府对城乡社会养老保险制度的不同设计以及对养老投入的不同水平,造成我国目前城乡实际养老保障水平之间存在很大差异。伴随我国农村人口日趋老龄化、土地保障功能弱化以及计划生育下养儿防老观念的逐步淡化,我国农村养老问题日益凸显,构建城乡一体的养老保险制度、统筹城乡养老保险体系问题引起了社会和学者的广泛关注。文章对近年来国内学界对统筹城乡养老保险的相关研究进行了归纳,就我国统筹城乡养老保险制度的必要性、可行性、路径步骤等,进行了总结和评价,以期对政府统筹城乡养老的有关政策提供理论参考。     

巴黎和会日本“种族平等”提案与日裔美国移民问题探析

巴黎和会上,日本代表团提出将＂种族平等＂作为一重要原则写入国联盟约,试图从根本上解决长期悬而未决的日裔移民遭受排斥的问题。该提议由于触及了美国及英联邦国家的利益而被和会否决。＂种族平等＂的提出,主要是由于日方认为移民问题已严重伤害了日本的民族情感,并对其业已取得的大国地位产生了不利的影响。而日本在种族方面的努力,却在客观上加剧了美国社会对日裔群体的排斥,在一定程度上造成了二战期间日裔移民遭受集体监禁的悲剧。     

论“普京总统后”的“普京因素”——俄罗斯政治和文化传统视角下的梅普组合解读

"普京因素"包含两方面的内容:一是普京本人的政治影响,二是普京的治国思想或"普京路线".普京的政治分量、个人威信以及占国家杜马多数席位的"统一俄罗斯"党主席头衔,都给其本人提供了宽广的政治回旋空间,决定了以普京为首的俄罗斯政府不可能仅仅履行技术性职能,也决定了"普京因素"在俄罗斯政治中的主导性地位."普京因素"将伴随着梅德韦杰夫的整个执政过程,是梅普组合成功与否的关键.     

Employment and earnings of foreign-born scientists and engineers

Population Research and Policy Review -     

澳洲台湾移民居住地选择的初探

本文针对悉尼和布里斯本两个都市之台湾移民的分布及居住迁徙作深入研究。主要透过深入访谈的方法 ,系统性的针对台湾移民选择居住地的因子及决策过程进行探讨 ,并尽量以社会地理学“局内人”的观点 ,架构居住地改变和选择的逻辑来思考整个迁徙过程的机制。研究结果显示 ,随着时间的改变 ,作迁徙决策时所考量的因子也会改变。刚到澳洲时 ,选择居住地的因子主要会考量亲友意见 ;随着经验的累积及对周遭环境的熟悉 ,个别差异性开始凸显 ,每个人对居住地的选择会有不同的考量与分析。在迁居上 ,有向双拼式建筑或都市公寓型房子搬迁的趋势