财务柔性能力与中国上市公司持续性创新——兼论协调创新效应与自适应效应

基于财务柔性组织理论,本文利用2007-2017年我国A股上市非金融类公司微观数据,从理论和实证检验分析了企业财务柔性能力对持续性创新的影响,结果显示企业财务柔性对持续性创新存在正向促进作用。进一步,本文探讨了财务柔性可能存在的“协调创新效应”和“自适应效应”两种机制。协调创新效应相关检验结果显示企业储备的财务柔性能力能有效协调内外部资源,释放融资约束的负向影响,从而正向促进企业持续性创新。检验结果还显示,企业主动地调节财务柔性储备,能够在不同维度环境的不确定性影响下发挥“自适应效应”,助力企业实现持续创新的目标。总体而言,本文结论改善了企业断点式或阶段式的创新投入方式,切实提升了企业自主研发能力和质量,对`实现我国创新“量质平衡”有重要意义。     

中国工业要素替代弹性的分解——基于直接替代效应和诱致性技术创新效应的研究

基于固定替代弹性(CES)生产函数构建了要素替代弹性分解的理论框架模型,根据技术进步是否发生改变,将要素替代弹性分解为直接替代效应和诱致性技术创新效应,并利用1978—2013年中国工业数据对其进行了实证检验分析。实证结果表明:在中国工业化进程中,中国工业资本与劳动之间是呈互补关系;同时,在要素替代过程中,诱致性技术创新效应起到了主要作用。因此,在中国经济转型的新常态下,应该继续加大技术创新的投入力度,加速推进工业产业技术升级,优化产业结构。     

Financial Issues Associated with Having a Child with Autism

Data from the Family Experiences with Autism Survey are used to identify factors associated with financial problems in families that have a child with autism. Likelihood of financial problems was positively associated with use of medical interventions, having unreimbursed medical or therapy expenses, and having relatively lower income. Use of speech and language therapy was negatively associated with likelihood of financial problems. Many survey respondents forfeited future financial security and even experienced bankruptcy to provide needed therapy for a child with autism. Specific ways that financial advisors can help families that have a child with autism are outlined.

The Impact of Personal Finance Education Delivered in High School and College Courses

This study investigates the impact of personal finance education delivered in high school and college. Outcomes of interest were investment knowledge and household savings rates measured years after the financial education was delivered. A web-based survey with questions about participation in financial education, financial experiences, income and inheritances, and demographic characteristics was administered to 1,039 alumni from a large midwestern university. Participation in a college level personal finance course was associated with higher levels of investment knowledge. Experience with financial instruments appeared to explain more of the variance in both investment knowledge and savings rates. No significant relationship between taking a high school course and investment knowledge was found. Financial experiences were found to be positively associated with savings rates.

学术道路自述

回顾几十年来学术研究的道路,开始把鲁迅研究以专著形式系列化。这里的系列,只能说是“小系”,而不是“大系”。在这基础上,扩大研究领域,撰写关于中国现代小说研究,现代文学史研究的论著,同时进行散文创作,出版几本散文集。学术界的前辈、同辈、后辈的学者,在著作和文章中对我的论著、作品,进行热情的评论、分析,至感。     

Australia’s national urban policy: The smart cities agenda in perspective

The Australian Government's attempts at national urban policy have been sporadic and inconsistent, under the constraints of constitutional, financial, ideological and political factors. This paper concerns the recent resurgence of national urban policy under the rubric of “smart cities” adopted by the Turnbull Government and carried on by the incumbent Morrison Government. It investigates how this round of smart cities agenda articulates with Australia's political tradition of national urban policy to seek continuity and change, through comparing historical policies, unpacking major smart cities programmes, identifying explanatory factors and critically commenting on its innovation and legacy. Drawing upon these analyses, this paper argues that understanding the smart cities agenda needs to move beyond the political, ideological “to-and-fro” pendulum to national urban policy observed in history. Rather, it resonates with a globalised policy norm established upon the city-based global integration and competition, driven by an imperative of transitioning to a knowledge economy and pursuing innovation capacity. It is too early to judge whether the smart cities agenda will bring changes to Australian cities in the way it wishes, since it involves long-term infrastructure investment and urban development projects. However, a comprehensive and consistent national urban policy to govern the Australian system of cities and towns has not been established yet.     

Social innovation and the autoimmunity of employability

The purpose of this article is to examine social innovation in the field of youth employment. It addresses both the shortcomings of supply-side approaches that are balanced towards issues such as employability and the impact of key demand side issues including low pay and precarity. The empirical analysis is based upon interviews with young people in employment or training with social innovations as well as interviews with senior policymakers and practitioners whose remit covers these issues. The study concludes by reflecting upon how the conduct of employability can operate as an autoimmune function.     

Does the Euro–Mediterranean Partnership contribute to regional integration?

The paper investigates whether Southern Mediterranean and Middle Eastern markets under the Euro–Mediterranean Partnership (Egypt, Lebanon, Morocco, Malta, and Turkey) have become more financially integrated with the European stock market over time. The findings suggest that the Turkish equity market is moderately integrated with the European market, while the other economies exhibit weak financial integration with Europe, supporting the idea that the partnership appears to have no effect on enhancing inter-market linkages for these economies. Therefore, these markets would be good destinations for international investors seeking attractive investment opportunities to diversify their equity portfolios. Structural changes in the cross-market integration do exist, which may be considered as a guide for international equity portfolio diversification over different subperiods. In addition, there is evidence of an increasing trend in conditional correlations for Egypt and Turkey, to varying degrees, over time, notably during the post global financial crisis of 2007–2008, thus revealing herding behavior during this period. Overall, investors should be wary of the variation of equity market integration over time before engaging in an investment at the level of portfolio management and diversification. Policymakers must be aware of the remoteness of the current achievements of the Euro–Mediterranean Partnership from the targets set in terms of financial development and economic growth.     

Supplemental home care and topping‐up: A shift from service universalism towards a new and privatised public service model?

How does a public service model based on service universalism react to the introduction of market principles of topping up? In a recent so‐called Free Municipality Scheme (an experimental scheme that allowed for greater operational autonomy locally in an effort to reduce state bureaucracy), a number of Danish municipalities were for the first time ever allowed to compete with for‐profit providers of home care in selling supplemental home care services paid entirely by the user. The take‐home message from this experience is that the introduction of supplemental home care entails challenges and eventually wider implications for the public service model, on an economic, organisational and cultural level. Supplemental services represent a new and potentially powerful combination of market and state logics that eventually redirects away from the universalist welfare state and towards a new and increasingly privatised public service model – a model where the service level is determined by the user's capacity to purchase and pay for services. The introduction of such services therefore implies a change of the potential of the Nordic welfare state to ensure equal access regardless of class and income.     

Identity work in female‐led creative businesses

This study explores the identity work carried out by three female owner‐managers in creative industry businesses, identified in Government reports as a discriminatory industrial sector for women in the UK. Through the development of narratives by the owners and other participants, observation of practice and review of online and offline materials, three cases emerged. These showed overlapping, different identities developed and performed through identity work. Each presented rational and logical persona as business leaders despite observation showing extensive use of intuition and gut feeling in both creative and entrepreneurial aspects of the business. Intuition and gut feeling were seen as inappropriate at work as they belonged to the home sphere, emotionally based and therefore automatically unreliable. While occupying male stereotypes and avoiding the female realm of emotion at work, these women expressed femininity through their emphasis on the maternal, ‘being a good mother' as a desired ideal being embedded in work as well as home practice.