基于企业价值与发行特征的定向增发定价效率研究

近年来,定向增发逐渐成为上市公司增发的主流方式.与公开增发相比,定向增发具有不同的发行特点.在考虑企业价值的基础上,引入发行特征这一因素,将定向增发新股的定价视作一个生产过程,运用随机前沿分析方法,对非效率项的分布假设进行扩展,以此来分析定向增发的定价效率,并以2006年4月至2009年10月的定向增发企业为样本展开实证研究.实证结果表明,中国上市公司定向增发的定价效率有待提高,企业价值和发行特征等相关因素对发行定价效率有着不同程度和方向的影响.     

宜居城市与世博理念

世界各国对宜居城市的评价标准有所不同,但有一个共同的标准确是公认的,这就是:生活在那里的居民认为这是最适宜于自已居住和生活的城市.宜居城市的条件中既包含优美、整洁、和谐的自然和生态环境,也包含安全、便利、舒适的社会和人文环境,这也是人们的共识.上海世博会的主题"城市,让生活更美好"要求我们必须在建设宜居城市上下工夫.     

福建省农村扶贫开发历程及前瞻

福建省农村扶贫开发工作经历了广义扶贫阶段、制度变革扶贫阶段、开发式扶贫阶段、扶贫到户模式阶段,绝对贫困人口数量和贫困发生率大幅下降。进入全面建设小康社会阶段,扶贫战略应进行相应调整。在回顾和总结福建省农村扶贫开发工作历程的基础上,指出农民素质偏低是导致农村贫困的核心因素,人力资本投资不足是制约农民素质提升、解决贫困问题的关键。提出今后的扶贫模式应逐步由从物质投入为主向人力资本投入为重点与核心的方向过渡,通过教育投资提高农民的科学文化素质,通过培训投资使农民依靠农业现代化增收致富、提高非农产业就业的能力,通过健康投资减少因病致贫现象的发生,通过迁移投资完善交通设施、改进就业信息渠道,降级劳动力流动成本。     

新的历史时期民族传统体育文化发展断想

从文化演进的角度描述了民族传统体育曾经的尴尬境遇,认为建设和谐社会和＂十七大＂报告所提出弘扬优秀民族传统文化大背景下,民族传统体育的腾飞出现了历史的发展契机。大力弘扬民族传统体育是建设和谐社会构建和谐体育文化的需要;是重塑文化自尊,提升民族凝聚力和民族自豪感、提升中华民族体育的软实力的需要;是新的历史时期的文化觉醒。弘扬民族传统体育理应成为新时期体育文化建设中的文化自觉,发挥她独具的教化功能和＂和合＂的人文精神是必须把握的精神实质,是新的历史时期弘扬民族传统体育必须把握的基点。     

Depressive symptoms and help‐seeking behaviors among Korean Americans

Cheung M, Leung P, Cheung A. Depressive symptoms and help‐seeking behaviors among Korean Americans Int J Soc Welfare 2011: 20: 421–429 © 2010 The Author(s), International Journal of Social Welfare © 2010 Blackwell Publishing Ltd and the International Journal of Social Welfare. Korean Americans represent the fifth largest group of Asian Americans in the USA. This exploratory survey of 205 Korean Americans (92.2 percent foreign born) found that those with depressive symptoms tend to be younger, have lower incomes, and are more concerned about their basic needs, community/social needs, family relationship issues, and healthcare issues than those without depressive symptoms. Income, healthcare concerns, and anxiety were significant predictors of depression. The likelihood of having depressive symptoms among Korean Americans with anxiety was 240 times higher than among those without anxiety, but acculturation was not a significant contributing factor. Most respondents tended to seek advice about their mental health problems from physicians and non‐mental health professionals (friends and religious healers). Implications for social work education, research, practice, and policy are discussed in relation to the need to use evidence‐based practice data to plan culturally relevant services for ethnic minorities.     

Well‐being among employed and non‐employed caregiving women in Taiwan

Chou Y‐C, Kröger T, Chiao C, Pu C‐Y. Well‐being among employed and non‐employed caregiving women in Taiwan This study addressed various groups of non‐employed/employed and non‐caring/caring women in Taiwan. Data from the 2006 National Taiwanese Women Survey (at age 16–64, n= 6,017) were analysed to determine whether there are differences in terms of well‐being, as measured by self‐rated health and family life satisfaction, between women who work and/or care and between different carer groups. Other factors associated with well‐being of carers of young children (n= 1,697) were also analysed. The results showed that non‐employed carers of disabled adults stood out as the most disadvantaged group. However, the importance of work has been replaced by support among carers of young children. This study suggests that unpaid carers, particularly carers of disabled adults who are non‐employed, ought to be supported by policies. To improve carers' well‐being, care–work reconciliation among working‐age women needs to be included in the future care scheme in Taiwan.     

基于面板数据CFaR模型的现金流风险研究 ——以中国上市公司为例的考虑风险因子分布特征的实证分析

为度量中国上市公司经营活动面临的现金流风险,放弃风险因子服从正态分布的假设,从内外两方面识别和拟合现金流风险因子,构建一个面板数据现金流风险(CFaR)模型.基于该模型的实证结果表明,上市公司的经营活动现金流不仅受到内部财务因素的影响,同时还受到宏观经济等外部因素的影响,且大部分的现金流影响因子不服从正态分布.上市公司面临的现金流风险总体而言较大,行业之间存在明显差距,其中风险值最大的是建筑业,最小的是交通运输及仓储业:风险程度最大的是房地产业,最小的是采掘业.此外,上市公司现金流风险表现出较为明显的行业聚类特征,处于同一类别的行业的现金流状况具有一定的相关性特征.     

从兴民权到开民智——梁启超的两次湖南之行

梁启超在1897年放弃上海《时务报》的工作前往湖南,是从时局的角度出发,抱有推动湖南独立维新实验的目的,但是在时务学堂时期,他逐步由政治上的争独立、兴民权的理想,转入教育领域开启民智的实践,并培养了唐才常、蔡锷在内的一大批新式人才.1922年,梁启超作为联省自治理论的提倡者再次来到湖南,在长沙的几场演讲却多涉及新文化运动和国民性问题,继续为近现代湖南的民智启蒙做出努力.     

Impact of Community on Personal Well-Being in Urban China

ABSTRACT

As the work-unit system fell after economic reform in China, neighborhoods replaced work units as the primary provider of vital social services for the urban population and became a new social space for enhancing the quality of people's well-being. This study examined the neighborhood characteristics that influenced personal well-being of residents. Drawn by multistage sampling and administered by face-to-face interviews, the survey included a sample of 976 participants from 31 neighborhoods in urban Shanghai. Results indicate that neighboring behaviors enhanced subjective well-being of the young and middle-aged residents but had no impact on older people. Sense of community, on the other hand, was found to contribute to well-being of all age groups and was particularly strong among older people in more deprived neighborhoods. Findings inform development of community practice strategies for vitalizing community efficacy and fostering individual well-being in urban China. Recommendations for future research are made using the results of this study.     

Understanding the cultural adaptation of foreign wives of South Korean men

‘International marriage’ has increased within rural areas in South Korea. As an increasing number of rural women move to urban areas, men are left facing the challenges of finding appropriate spouses. This issue stimulated support for ‘international marriages’ by the Korean government. A review was carried out of the literature of foreign wives' cultural adaptation in South Korea using the ecological systems. While foreign wives have escaped the hardships of lower economic status in their home country, they often face new challenges in South Korea. The article recommends that one-stop multicultural services are needed to address the cultural issues facing non-Korean women.