Beta系数跨期时变与公司估值

从理论上剖析Beta系数跨期时变、时间要素设定差异对系统性风险度量及公司估值结果的影响,并以2005年1月1日至2014年12月31日为样本周期,以有色、钢铁、石化、房地产、银行等5个周期性行业板块收益率及市场平均收益率的周数据和月数据为研究样本,对理论分析结论进行实证检验。研究发现：（1）时间要素设定差异会显著影响Beta系数稳定性;（2）时间要素设定差异对系统性风险度量及公司估值结果影响显著;（3）审慎设定时间要素,有利于提高Beta系数稳定性,同时降低系统性风险度量及公司估值误差。其中,“5～10年”是更为可取的Beta系数估计时段,并应优先选择以“周”为单位的收益率度量时限,其次是以“月”为单位。     

论高职商务英语专业人才培养方案的制定

本文从行业岗位需求分析、人才培养目标定位、课程体系构建、人才培养模式构建以及人才培养方案实施保障等方面,探讨了高职商务英语专业人才培养方案的制定过程。     

中英公示语现状调查分析——以西昌市为例

本文通过调查西昌市中英文公示语现状情况,分析了公示语翻译存在的问题,并提出了从宏观政府管理,微观翻译策略方面来规范中英双语公示语翻译。     

关于上海松江区发展家庭农场的思考

上海松江区改革农村土地管理制度,规范农村承包地流转,创新农业经营主体,培育、发展家庭农场,取得了明显成效。松江家庭农场经营模式为上海乃至全国发展家庭农场提供的启示是：顺应形势发展,为家庭农场成长创造良好的外部环境;培养职业农民,为家庭农场发展提供坚实的人力保障;加强扶持服务,为家庭农场发展提供有力的政策支持。推广松江家庭农场模式,要注意把握好3方面的问题,即：家庭农场经营规模＂度＂的问题;土地如何＂流转＂的问题;政策措施＂扶持＂的问题。     

Accredited Mental Health Social Work in Australia: A Reality Check

Abstract

Accredited mental health social workers (AMHSWs) have a great deal to offer the clients they see in their private practices, many of whom have complex needs. However, they are constrained by the inflated expectations Government has about evidence-based psychological interventions. The restrictions placed on the professional private practice of AMHSWs by Federal Government Medicare funding of a narrow set of psychological interventions ultimately limits the services received by clients. In this article, the findings of a survey of AMHSWs are presented, highlighting the tensions between individualised responses promoted by Medicare payments, and those premised on principles of social justice and social inclusion.     

Meeting in the Global Workplace: Air Travel,Telepresence and the Body

Abstract

In the highly connected and globalised corporate workplace, face-to-face communication is persisting and expanding, despite significant advances and investments in telecommunication. Drawing on interviews with 34 employees from an Australian company trying to reduce air travel associated with business meetings, this paper reveals how telepresence facilitates distinctly different practices of meeting and collaborating to those enabled by face-to-face encounters. The analysis draws attention to the essential role of the body in the practices of virtual and in-person business meetings. During in-person meetings the body’s physical presence conveys meanings of respect and value, provides sensorial competency and gestures, and enables physical mobility as it carries people between and within different material environments. The paper concludes by identifying some possibilities for telepresence meetings to replicate and replace in-person meetings as a normal and effective way of collaborating in the global workplace.     

The Network Origins of Aggregate Fluctuations

This paper argues that, in the presence of intersectoral input–output linkages, microeconomic idiosyncratic shocks may lead to aggregate fluctuations. We show that, as the economy becomes more disaggregated, the rate at which aggregate volatility decays is determined by the structure of the network capturing such linkages. Our main results provide a characterization of this relationship in terms of the importance of different sectors as suppliers to their immediate customers, as well as their role as indirect suppliers to chains of downstream sectors. Such higher‐order interconnections capture the possibility of “cascade effects” whereby productivity shocks to a sector propagate not only to its immediate downstream customers, but also to the rest of the economy. Our results highlight that sizable aggregate volatility is obtained from sectoral idiosyncratic shocks only if there exists significant asymmetry in the roles that sectors play as suppliers to others, and that the “sparseness” of the input–output matrix is unrelated to the nature of aggregate fluctuations.     

An Empirical Analysis of Virtual Goods Permission Rights and Pricing Strategies

With the rapid development of the virtual world industry in the past few years, trading of virtual goods and services has grown significantly. Virtual goods creators can set different permissions to their creations, such as the length of usage, the ability to copy or modify a virtual good, or the ability to give the good to others. The permissions of virtual goods endow their creators with additional power to control the allocation and exchange of virtual goods in a virtual world. We examine how the unique virtual goods permission settings (copy, modify, and transfer) and other factors are associated with virtual goods prices. Using data from a Second Life marketplace, we find that permissions of virtual goods are not random, as creators strategically set the permissions for their virtual creations. Our results show that the copy and transfer permissions are significant factors associated with virtual goods prices. The impact of other factors on virtual goods prices is analyzed and managerial implications are discussed.     

商务英语课程设置折射出的两个深层次问题

基于交流需求分析,着眼于跨文化交流能力的培养,理想的商务英语课程设置包含着语言、沟通、文化和商务四个模块的课程体系。在现实中,这样一个理想的商务英语课程体系是否能够得到实施,人们对于商务英语课程设置的认知与现实中的教学实践之间是否存在差异,以河南高校为样本,对商务英语课程的实施情况进行了实证调查。在对调查结果进行分析时,得出了数项结论,同时发现了两个待解的深层次问题:一是如何培养商务英语专业的核心竞争优势?二是什么是商务英语课程体系的共同核心?