权利、权力语境中宪政的价值诉求

权利、权力的博弈与整合促成现代宪政制度的产生与发展,宪政是动态中权利、权力博弈与整合的结果。权利、权力语境中宪政的价值诉求是指在权利、权力博弈中对国家权力的规范制约和对公民基本权利的保障,是实现宪政的动态过程,即是如何在制度设计和实践中实现对国家权力的规制和对公民基本权利的保障。宪政价值诉求实现的表征是政治文明与和谐社会。     

构建证券公司客户资产管理的风险控制体系

为了有效地提高券商客户资产管理业务的抗风险能力,增强其核心竞争力,本文尝试构建完整的风险管理体系。本文对证券公司的客户资产管理风险采用VaR进行量化度量,并试图建立一个完善的组织体系,按照严密规范的风险控制制度,由独立、专门化的风险管理组织对客户资产管理部门进行监督和管理,从而保证风险控制技术的准确实施。在风险管理实践中,风险控制意图、风险控制技术和风险控制制度这三者的动态互动构成了风险管理体系。     

医疗服务诱导需求问题的成因和解决机制分析

医疗服务诱导需求问题具有多方面的影响,深入分析问题产生的原因有助于从根本上提出解决问题的有效机制。医疗服务市场之所以存在诱导需求问题,除了由于特殊的市场结构和存在缺陷的医疗保险付费制度外,更重要的是因为医、患、保三方的委托代理关系。只有从改变委托代理关系的角度入手,才能提出有效的解决机制。     

A delay-in-payment contract for Pareto improvement of a supply chain with stochastic demand

We consider a supply chain consisting of a single supplier and a single retailer with stochastic customer demand, which is operated over an infinite horizon. We propose a delay-in-payment contract to coordinate the supply chain. With this contract, the supplier allows the retailer to pay partial order cost at the ordering epoch, and to pay the remaining portion after a permissible number of periods. The system is formulated as a stochastic dynamic programming problem. It is shown that there exists a base-stock policy to be optimal. Compared with the traditional wholesale-price contract, the delay-in-payment contract with appropriate parameters can achieve a Pareto improvement (i.e., the performances of both the supplier and the retailer using the delay-in-payment contract are better than those using the wholesale-price contract). Numerical studies are performed to investigate both the effectiveness of the Pareto improvement, and the impact of the major parameters of the delay-in-payment contract on the system performance.     

阶梯电价背景下基于贝叶斯分析的用电需求模型

阶梯电价不仅引导居民合理、节约用电,而且减少了用户之间的电价交叉补贴,但在实际应用中存在多种不确定因素,如居民用电需求变动以及各档电量的确定范围等。针对居民用电需求变动,本文提出了基于贝叶斯估计方法的阶梯电价用电需求模型。首先提出基于阶梯电价的需求函数;其次对阶梯电价用电需求函数进行贝叶斯分析,分别从统计模型、似然函数、后验分布以及加速收敛四个方面分析;最后,对1250个用户的用电数据进行估计,将影响因素带入模型得出各用户的用电需求,确定了贝叶斯估计对用电需求模型构建的适用性。     

网络环境下顾客参与品牌价值共创模式与机制研究——以小米手机为例

随着网络信息技术的发展,顾客通过互联网平台参与产品开发与更新、主导网络口碑传播等方式,已成为品牌价值创造的重要主体,深刻改变着品牌管理模式.本文以小米手机为例,借助扎根理论研究方法,对相关质性资料进行内容分析,得到如下结论:小米手机品牌的快速成长得益于其建立了契合互联网“专注、极致、快、信任”的企业文化和团队理念,将产品定位为发烧友而生的年轻消费者群体,积极进行线上、线下交流互动,将顾客培育成为粉丝和发烧友,引导顾客积极参与产品开发、更新以及口碑传播,从而实现小米手机品牌的快速成长.在此基础上,通过理论检验和命题发展,总结出顾客参与网络品牌价值共创的文化机制、产品机制、互动机制、参与机制、口碑机制及其相应命题.     

贵州社会管理创新:经验、问题与出路

近年来,贵州社会管理创新取得了一些成效,其主要经验是强化中国共产党在社会管理创新中的领导地位,发挥政府在社会管理创新中的主导作用,创新内容要关注民生。尽管如此,贵州社会管理创新还存在社会矛盾化解机制不健全、基层政府社会管理力量薄弱、社会组织培育机制不健全等问题,应通过完善源头治理机制、改革基层社会管理体制、优化社会组织培育机制等途径来解决。     

A Theory of Macroprudential Policies in the Presence of Nominal Rigidities

We propose a theory of monetary policy and macroprudential interventions in financial markets. We focus on economies with nominal rigidities in goods and labor markets and subject to constraints on monetary policy, such as the zero lower bound or fixed exchange rates. We identify an aggregate demand externality that can be corrected by macroprudential interventions in financial markets. Ex post, the distribution of wealth across agents affects aggregate demand and output. Ex ante, however, these effects are not internalized in private financial decisions. We provide a simple formula for the required financial interventions that depends on a small number of measurable sufficient statistics. We also characterize optimal monetary policy. We extend our framework to incorporate pecuniary externalities, providing a unified approach to both externalities. Finally, we provide a number of applications which illustrate the relevance of our theory.     

Shadow Insurance

Life insurers use reinsurance to move liabilities from regulated and rated companies that sell policies to shadow reinsurers, which are less regulated and unrated off‐balance‐sheet entities within the same insurance group. U.S. life insurance and annuity liabilities ceded to shadow reinsurers grew from $11 billion in 2002 to $364 billion in 2012. Life insurers using shadow insurance, which capture half of the market share, ceded 25 cents of every dollar insured to shadow reinsurers in 2012, up from 2 cents in 2002. By relaxing capital requirements, shadow insurance could reduce the marginal cost of issuing policies and thereby improve retail market efficiency. However, shadow insurance could also reduce risk‐based capital and increase expected loss for the industry. We model and quantify these effects based on publicly available data and plausible assumptions.     

Strategic Design Responsiveness: An Empirical Analysis of US Retail Store Networks

This study uses a service operations management (SOM) strategy lens to investigate chain store retailers' strategic design responsiveness (SDR)—a term that captures the degree to which retailers dynamically coordinate investments in human and structural capital with the complexity of their service and product offerings. Labor force and physical capital are respectively used as proxies for investments in human capital and structural capital, whereas gross margins are proxies for product/service offering complexity. Consequently, SDR broadly reflects three salient complementary choices of SOM design strategy. We test the effects of “brick and mortar” chain store retailers' SDR on current and future firm performance using publically available panel data collected from Compustat and the University of Michigan American Customer Satisfaction Index databases for the period 1996–2011. We find that retailers that fail to keep pace with investments in both structural and human capital exhibit short‐term financial benefits, but have worse ongoing operational performance. These findings corroborate the importance of managers strategically maintaining the complementarity of design‐related choices for improving and maintaining business performance.