高校招生制度改革的脉络、现状和走向——兼论公平和素质作为高考改革的两个坐标

恢复高考以来,高校招生制度处于动态改革完善之中,本文梳理了历史脉络,解剖了基于高中新课改的新一轮高考改革的现状,提炼了近年高考改革的价值取向和主线,着重讨论了公平和素质这两个要素对高考改革的制约作用,展望了高考制度的走向.     

上市公司资本结构影响因素经验研究

本文结合我国上市公司的融资条件、产业演进阶段及独特的股东结构建立了资本结构的三个研究假说并对其进行了检验。研究发现,股权融资与负债之间既有“互补作用”,又有“替代作用”;产业演进和公司战略对长期借款和贸易应付款有显著影响,对短期借款水平没有显著影响;国有股比例和流通股比例对上市公司资本结构和负债期限几乎没有影响,而第一大股东持股比例对短期借款率和总负债率有显著的负向影响。     

Expanding theory-based evaluation: Incorporating value creation in a theory of change

Evaluations of policies and programs often use a theory of change to articulate how the intervention is intended to function and the mechanisms by which it is supposed to generate outcomes. When an evaluation includes cost and efficiency considerations, economic and other concepts can be added to a theory of change to articulate a theory of value creation that articulates the mechanisms by which the intervention should use resources efficiently, effectively and create sufficient value to justify the resource use.This paper introduces some theories of value creation that are often implicit in program designs. Making these theories explicit can support clearer evaluative thinking about value for money - including specification of criteria and standards that are aligned with the theory, methods of inquiry that test the theory, and well-reasoned judgements that answer evaluative questions about value for money. Implications for evaluation practice will be discussed.     

The Vexed Question of Market Stewardship in the Public Sector: Examining Equity and the Social Contract through the Australian National Disability Insurance Scheme

Personalized care and market‐based approaches to public service provision have gained prominence in a range of Organisation for Economic Co‐operation and Development countries. Australia has recently joined this trend, launching a complex and expansive programme of individualized care funding for disability through the National Disability Insurance Scheme. Public sector markets (i.e. where governments either directly fund a market by way of competitive tendering, or through personal budgets) have been embraced by actors at different points of the political spectrum and for a range of reasons, including efficacy and efficiency gains, empowerment of citizens and efforts to cater for diversity. Despite the growing dominance of public sector markets and individualized funding, many questions about the role and responsibility of governments in managing and regulating these markets remain unanswered. In this article we outline different roles governments might assume in the creation and management of public sector markets, based on the types of risks governments are willing to take responsibility for. We argue that to fulfil the social contract between government and citizens, governments need to ensure that markets are properly stewarded and embedded in broader social safety nets. This, we contend, can ensure citizens receive the gains of market models while being protected from market failures or market‐produced inequities.     

Equity‐Based Incentives and Supply Chain Buy‐Back Contracts*

We analyze the effect of equity‐based incentives in a supply chain with a downstream firm and an upstream supplier. By using the operational decision as a signal to influence external investors’ beliefs, the downstream firm's manager intends to maximize a convex combination of the interim share price and the terminal cash flows. We show that equity‐based incentives create a side effect. Specifically, with a universal buy‐back contract, the deadweight loss of signaling induced by equity‐based incentives could spread throughout the supply chain and cause chain‐wide damages. To mitigate such undesirable consequences, we propose a new mechanism to eliminate the inefficiency. We derive the optimal mechanism that maximizes the downstream firm's profits subject to the constraint that the supply chain efficiency is not undermined. In contrast to the full‐information benchmark, this mechanism gives positive surplus to the supplier. [Submitted: January 5, 2011. Revisions received: June 20, 2011; December 11, 2011. Accepted: December 22, 2011.]     

教育公平视阈下职业教育浅析

教育公平问题一直以来都是教育领域的热点话题,职业教育的发展近几年越来越受到国家和人们的重视。本文旨在通过分析目前我国教育公平方面存在的问题及其发展状况,同时结合职业教育的发展对教育公平产生的影响,对于今后职业教育公平的实现提出笔者的一些建议,希望对教育政策的制定和教育理论的完善提供一定参考价值。     

Asset Prices Under Habit Formation and Reference-Dependent Preferences

This article explains the high level and the countercyclical variation of the equity premium in a consumption-based asset pricing model with low large-scale risk aversion. Investors have gain-loss utility over consumption relative to slowly time-varying habit. Stocks deliver low returns in recessions when consumption falls below habit; investors therefore require a high premium for holding stocks. The model's conditional moment restrictions are tested on consumption and asset returns data. The empirical estimate of large-scale risk aversion is low, whereas the estimate of loss aversion agrees with prior experimental evidence.     

可辩解型产品伤害危机应对策略对品牌资产的影响研究:调节变量和中介变量的作用

企业创建品牌资产需要多年努力,但毁掉它可能仅需一场危机。在可辩解型产品伤害危机发生后,不同的企业采取了不同的应对策略。这说明,对哪种应对策略能有效保护品牌资产这一问题,企业之间没有共识。为解答上述问题,本文用实验法展开研究,结果表明:(1)对企业自身而言,最优的是辩解策略,其次是攻击策略和缄默策略,最差的是和解策略;(2)外界澄清的说服力更强,会淡化企业应对策略间的差异,更有利于保护品牌资产;(3)在无外界应对、采取辩解策略时,企业声誉会正向调节企业应对策略对品牌资产的影响;(4)在各种自变量影响品牌资产的过程中,心理风险充当了中介作用。以上发现为正确应对可辩解型产品伤害危机、有效保护品牌资产提供了启示。     

私募股权投资基金集群效应的经济学分析

无论是风险投资还是收购投资,均具有较强的集群效应。而在集群强度上看,收购投资的集群强度应强于风险投资。这一现象的产生不仅是因为私募股权投资基金在选择集群时不同选择的组织成本和交易费用的差异,而且不同选择的总成本和收益率水平也影响到其集群选择与集群强度。     

关于上市公司股权结构优化的几点思考

上市公司的股权结构影响公司的绩效 ,同时对公司治理机制的完善有重要作用。本文对股权结构优化的几个问题进行思考和分析 ,并提出了一些建议。