Evaluating social investment in disability policy

Disability policy in European countries is displaying a shift towards social investment: increasing human capital and access to the labour market. The reasoning that underlies this transition is that disabled persons would benefit from mainstream employment, but are impeded in traditional policy by deficiencies in labour supply and demand. However, the shift towards more activating policies in many countries is accompanied by a decline in social protection. It is unclear whether social investment may effectively promote the employment chances of disabled persons within this context. The present research examines this question through a quantitative, cross-sectional, multilevel analysis on microdata from 22 EU countries. Our findings suggest greater activation to predict lower employment chances, while reducing passive support shows mixed effects. Conversely, measures for facilitation in daily life predict greater employment chances, as do measures for sheltered work. These findings raise questions over the value of social investment for disabled persons—and underline the need to overcome broader barriers in the labour market and in society.     

Social investment effects of public education,health care,and welfare service expenditures on economic growth

The purpose of this study is to theoretically and empirically examine whether public spending in education, health care, and welfare service operates as a fruitful investment in welfare states, which has been implied in the literature of social investment arguments. Based on comprehensive review of existing literature, this study suggested a tripartite mechanism of social investment effect of such spending, that is “enhancement of human capital,” “support for labor force participation,” and “job creation.” To find the empirical evidence, a pooled time‐series cross‐section analysis was conducted with the data of 15 advanced welfare states from 1980 to 2015 using estimation technique of fixed‐effect model. The results confirmed that public spending in education, health care, and welfare service had a positive medium‐term as well as long‐term effect on economic performance, while cash‐type welfare spending had an obscure or no visible effect on economy. Government consumption that is a proxy and control variable of size of the welfare state showed a positive effect on real GDP in the medium term but a negative effect in the long run. In conclusion, this study suggests that reinforcing social services should be recognized and dealt with as essence of social investment strategy.     

Modified maximum likelihood estimator under the Jones and Faddy's skew t-error distribution for censored regression model

It is well-known that classical Tobit estimator of the parameters of the censored regression (CR) model is inefficient in case of non-normal error terms. In this paper, we propose to use the modified maximum likelihood (MML) estimator under the Jones and Faddy''s skew t-error distribution, which covers a wide range of skew and symmetric distributions, for the CR model. The MML estimators, providing an alternative to the Tobit estimator, are explicitly expressed and they are asymptotically equivalent to the maximum likelihood estimator. A simulation study is conducted to compare the efficiencies of the MML estimators with the classical estimators such as the ordinary least squares, Tobit, censored least absolute deviations and symmetrically trimmed least squares estimators. The results of the simulation study show that the MML estimators work well among the others with respect to the root mean square error criterion for the CR model. A real life example is also provided to show the suitability of the MML methodology.     

资本结构与员工劳动生产率

债务作为重要的公司治理手段,可以降低企业、管理层与员工之间的委托代理成本,提高员工劳动生产率.同时,债务水平上升将提高企业破产风险,对企业和员工的人力资本投入与员工劳动生产率可能产生不利影响.以我国1999年一2014年工业企业上市公司为样本,本文不同佑计方法的实证结果均表明企业的债务水平越高,员工劳动生产率越低.在其他因素不变的情况下,企业的财务困境加剧了债务对员工劳动生产率的不利影响;债务对员工劳动生产率的负作用在人力资本依赖度高的公司以及在外部就业环境好的地区更加显著.对于债务与员工劳动生产率作用的中介效应分析与分位数回归结果也说明债务上升可能导致企业人力资本投资下降,对员工劳动生产率产生不利影响.研究为我国“去杠杆”经济政策提供了微观企业层面的经验证据.     

中国与东盟国家双向投资关系分析及对策研究

东南亚国家与中国山水相连,文化习俗相近,双方商业合作和友好往来历史悠久,随着中国与东盟经济的快速发展以及自贸区的启动,双方合作空间进一步拓展,发展前景将更加广阔。投资合作是中国—东盟经贸合作的强大推动力,这得益于中国—东盟自由贸易区《投资协议》开始实施,双方开放投资市场,改善投资环境,降低贸易壁垒,为双方企业创造更多投资机会。     

体育产业的投融资环境建设:市场及参与者

本文运用文献资料法,数理统计法对投融资环境、产业投资基金等体育产业发展的投融资因素进行了分析与讨论。统计分析表明:投融资环境的有效发展是促进经济发展的主要方面。促进资本市场的建设及发展产业投资基金对于体育产业的发展来说是至关重要的。通过市场建设及产业投资基金的发展,不仅能通过增加流动性提高体育资产的价值,也能增加市场对资源的配置效率,有力地促进整个体育产业的发展。     

船舶产业投资基金发展路径研究

文章从我国目前与船舶相关的产业投资基金现状入手,通过分析,揭示了目前我国船舶产业投资基金的问题主要有:投资环境中存在的三大矛盾;未充分吸收和引导民间资本,以及对船舶企业经营管理的参与化程度不高。针对这些问题,提出了我国船舶类产业投资基金发展的步骤和策略。     

新形势下上海引进外资问题研究

基于新形势下上海引进外资出现的新情况、新问题,通过对上海投资环境、定位和区位的具体分析,建立上海吸引高端外资的系统框架,并提出上海在市场开放方面,应扩大外资进入领域,鼓励外资投向"上海制造"、"上海服务"、"上海创造"的高端产业,依次引导外资的产业结构升级;在投资环境方面,应建立统一和可预见的法制环境,完善社会信用制度,以此维护市场的竞争秩序;在市场准入方面,应放宽行业限制,不断调整和优化利用外资结构。     

浅谈企业如何发挥效能监察

针对效能监察工作在现代企业建设步伐中发挥的重要作用,就如何更好地发挥效能监察的作用,提高市场竞争能力,进行了一些探讨。