The Distribution of Returns to Education for People with Disabilities

This article takes a first look at the distribution of returns to education for people with disabilities, a particularly disadvantaged group whose labor market performances have not been well studied or documented. Using a nonparametric approach, we uncover significant heterogeneity in the returns to education for these workers, which is drastically masked by conventional parametric methods. Based on these estimates, we construct the Sharpe ratio of human capital investment (taking into account its substantial risk), and our results corroborate the claimed importance of human capital in improving these workers’ wages. Our stochastic dominance tests show that the returns to education for workers with disabilities, as a group, may have been affected more adversely in the most recent recession, relative to their non-disabled counterparts.     

A股上市公司经理人现金薪酬与业绩真的挂钩吗？——基于CEO个体时间序列数据的研究

关于A股上市公司经理人现金薪酬与公司对外报告的会计业绩是否挂钩,已有的主流文献给出了“是”的答案。基于2000—2019年A股上市公司CEO个体时间序列数据逐个进行回归,研究发现A股上市公司CEO现金薪酬总体上并没有与其所在公司业绩挂钩,即不存在显著正向的薪酬—业绩敏感度,这与主流文献基于传统面板数据下所得到的显著为正、幅值较小的研究结论截然不同。经测算,3317位A股公司CEO中只有33位具有显著为正的薪酬—业绩敏感度,但由于这些CEO整体现金薪酬水平偏低,实际上,随着公司业绩的变动,他们的现金薪酬变动并不大,不具有明显的经济意义。因此,A股上市公司的股东和监管机构需要反思和重构包括现金薪酬与股权激励在内的经理人薪酬激励机制,学术界也应重新评估已有相关文献的结论。     

乡村自驾游目的地选择偏好影响因素研究

当前自驾游客在乡村旅游目的地选择中,“旅途因素”已超越“目的地因素”,成为影响自驾群体对目的地选择决策的首要因素,其中,“旅途体验”和“旅途环境”所包含的多项因素的影响力强劲。在“目的地因素”中,“乡村知名度”不再产生关键作用,而“地域特色”“游客密度”等新因素开始呈现出显著影响。“旅游动机”“信息刺激”“个人特征”所包含的各项因素的影响作用发生新变化,“亲朋推荐”等因素的影响力超过传统媒体,“情感需求”“游伴结构”等因素对自驾群体选择乡村旅游目的地也产生重要影响。我国许多脱贫的乡村可抓住发展机遇和时间窗口,对标打造契合自驾群体偏好的乡村旅游目的地。     

How choice proliferation affects revealed preferences

Theory and Decision - Whereas the literature on choice overload has shown that people tend to defer their choice or experience less satisfaction under choice proliferation, this paper aims to test...     

高校开展咏唱爱国主义歌曲活动的意义和经验分析——以祖国七十大庆高校开展咏唱爱国主义歌曲活动为例

爱国主义歌曲作为对祖国抒发赞颂之情的歌曲,是“光荣颂”“欢乐颂”“祝福颂”的有机统一,是培育和践行社会主义核心价值观的重要载体。从精神价值而言,爱国主义歌曲具有社会公共性、历史恒久性、无比崇高性。高校开展咏唱爱国主义歌曲活动,能增进学生对祖国的自豪之情,提升其民族自信,激发其报国之志。高校开展咏唱爱国主义歌曲活动,即要精选优异的爱国主义歌曲音乐本体,又要注重发挥高校教师的带头作用,还要加强学校各级组织机构和辅导员队伍的引领作用。高校党政领导对这类歌咏活动要进一步提高认识站位、增强重视程度、加强条件支持。     

The rise of randomized controlled trials (RCTs) in international development in historical perspective

Theory and Society - This article brings a historical perspective to explain the recent dissemination of randomized controlled trials (RCTs) as the new “gold standard” method to assess...