Process matters – How strategic decision-making process characteristics impact capital allocation efficiency

We employ strategic decision-making process theory to study the internal capital markets of firms and argue that varying allocation efficiency can result from the configuration of the capital allocation decision-making process. Learning from earlier research on firms' portfolio allocations, we also develop assumptions on interaction effects with firm-level unrelated diversification and environmental dynamics. We test our hypotheses with structural equation modeling on an international sample of large multi-business firms. Our results suggest that process formalization and analytical comprehensiveness have a positive influence on the efficiency of allocation decisions. Another key result is that unrelated diversified portfolios positively moderate the influence of analytical comprehensiveness and formalization, while dynamic environments negatively impact the influence of formal processes but reward managerial involvement.     

Welfare gains of the poor: An endogenous Bayesian approach with spatial random effects

We introduce a Bayesian instrumental variable procedure with spatial random effects that handles endogeneity, and spatial dependence with unobserved heterogeneity. We find through a limited Monte Carlo experiment that our proposal works well in terms of point estimates and prediction. We apply our method to analyze the welfare effects generated by a process of electricity tariff unification on the poorest households. In particular, we deduce an Equivalent Variation measure where there is a budget constraint for a two-tiered pricing scheme, and find that 10% of the poorest municipalities attained welfare gains above 2% of their initial income.     

The impact of rice research expenditure policy in Thailand

This study explored the economic, social and environmental impact of Thai rice research expenditure (categorized as breeding expenditure, production expenditure and processing expenditure) during 2008–2015, using the simultaneous equation modeling technique. The results showed that production-research expenditure was the most explicit to reduce the amount of nitrogen fertilizer usage, while breeding-research expenditure was the most explicit in terms of increasing farmers’ economic status from planting rice. Processing expenditure seemed to be the least effective spending among the three types.     

预防性储蓄重要性的测算方法及其比较

 本文对西方预防性储蓄研究文献中预防性储蓄重要性的测算方法进行了详细总结和比较,对其在中国的应用和适用性也做了简要的介绍和讨论,以期起到抛砖引玉的作用。     

变分迭代算法的应用

介绍了一种对求解非线性方程非常有效的方法-变分迭代算法及其发展成果．几个例子说明这种方法的有效性．     

Fubini theorem for non additive measures in the framework of g-expectation

Since the seminal paper of Ghirardato (1997 Ghirardato, P. 1997. On the independence for non-additive measures, with a Fubini theorem. Journal of Economic Theory 73:261–91.[Crossref], [Web of Science ®] , [Google Scholar]), it is known that Fubini theorem for non additive measures can be available only for functions as “slice-comonotonic” in the framework of product algebra. Later, inspired by Ghirardato (1997 Ghirardato, P. 1997. On the independence for non-additive measures, with a Fubini theorem. Journal of Economic Theory 73:261–91.[Crossref], [Web of Science ®] , [Google Scholar]), Chateauneuf and Lefort (2008 Chateauneuf, A., and J. P. Lefort. 2008. Some Fubini theorems on product σ-algebras for non-additive measures. International Journal of Approximate Reasoning 48:686–96.[Crossref], [Web of Science ®] , [Google Scholar]) obtained some Fubini theorems for non additive measures in the framework of product σ-algebra. In this article, we study Fubini theorem for non additive measures in the framework of g-expectation. We give some different assumptions that provide Fubini theorem in the framework of g-expectation.     

Stochastic differential equation systems for an SIS epidemic model with vaccination and immigration

Two Itô stochastic differential equation (SDE) systems are constructed for a Susceptible-Infected-Susceptible epidemic model with temporary vaccination. A constant number of new members enter the population and total size of the population is variable. Some conditions for disease extinction in the stochastic models are established and compared with conditions in deterministic one. It is shown that the two stochastic models are equivalent in the sense that their solutions come from same distribution. In addition, the SDE models are simulated and the equivalence of the two stochastic models is confirmed by numerical examples. The probability distribution for extinction is also obtained numerically, provided there exists a probability for disease persistence whereas the expected duration of epidemic is acquired when extinction occurs with probability 1.     

Work Characteristics and Parent‐Child Relationship Quality: The Mediating Role of Temporal Involvement

This study investigated whether the amount and nature of parent‐child time mediated the association between parental work characteristics and parent‐child relationship quality. We based hypotheses on the conflict and enrichment approaches, and we tested a path model using self‐collected data on 1,008 Dutch fathers and 929 Dutch mothers with school‐aged children. Longer working hours and less work engagement were associated with less parent‐child time and longer working hours, more restrictive organizational norms, stress, flexibility, nonstandard hours (mothers only), and work engagement increased the disturbance of parent‐child activities. Less and more disturbed parent‐child activities were, in turn, associated with a lower parent‐child relationship quality. In addition, work engagement and working hours had direct, beneficial effects on parent‐child relationship quality.     

挪用公款受贿量刑不应数罪并罚

挪用公款罪的许多理论和实践问题,一直备受理论与实务界的关注和争议。最高人民法院于1998年出台的司法解释,规定因受贿而挪用公款构成犯罪的,按数罪并罚处理。笔者对此持否定意见,认为因受贿而挪用公款仍属于单纯的一罪,不发生数罪并罚问题,并从行为的罪数性质、该解释的合理性分析、挪用公款罪的立法背景和立法例的比较等四个方面,提出了自己的理由与依据,以及对该行为从一重处断的主张。