Does geographical proximity matter in determining the profitability of banks?

Despite the existence of a burgeoning literature on bank profitability, yet, none of them gave due consideration to geographical proximity. I fulfill such a gap by analyzing the effects of COVID-19 on the profitability of top-rated banks. Findings confirm the prevalence of spatial dependence at both the global and sub-global with feedback effects being systematically higher than spillover effects. My study uncovers evidence of a COVID-19 induced decline in asset utilization. Findings advocate sharing economy as a potential tool to banks in combating any future pandemic risk with regionalized approach to supervision being deemed better than its globalized counterpart.     

Using local linear kernel smoothers to test the lack of fit of nonlinear regression models

Herein, we propose a data-driven test that assesses the lack of fit of nonlinear regression models. The comparison of local linear kernel and parametric fits is the basis of this test, and specific boundary-corrected kernels are not needed at the boundary when local linear fitting is used. Under the parametric null model, the asymptotically optimal bandwidth can be used for bandwidth selection. This selection method leads to the data-driven test that has a limiting normal distribution under the null hypothesis and is consistent against any fixed alternative. The finite-sample property of the proposed data-driven test is illustrated, and the power of the test is compared with that of some existing tests via simulation studies. We illustrate the practicality of the proposed test by using two data sets.     

风险投资与地方政府财政的作用定位

发展风险投资是推动高新技术产业加快发展、实现产业结构优化升级的重要途径。鉴于风险投资业在我国刚刚起步的现实 ,强调地方政府介入风险投资意义重大。近期地方政府介入风险投资应在资本配置中发挥重要作用 ;从长远来讲 ,地方政府应致力于相关制度环境建设 ,这方面的内容包括政策引导、制度环境支持以及法律保障等 ,以此创造有利于风险投资业大发展的社会环境     

Bayesian modelling of catch in a north-west Atlantic fishery

Summary. We model daily catches of fishing boats in the Grand Bank fishing grounds. We use data on catches per species for a number of vessels collected by the European Union in the context of the Northwest Atlantic Fisheries Organization. Many variables can be thought to influence the amount caught: a number of ship characteristics (such as the size of the ship, the fishing technique used and the mesh size of the nets) are obvious candidates, but one can also consider the season or the actual location of the catch. Our database leads to 28 possible regressors (arising from six continuous variables and four categorical variables, whose 22 levels are treated separately), resulting in a set of 177 million possible linear regression models for the log-catch. Zero observations are modelled separately through a probit model. Inference is based on Bayesian model averaging, using a Markov chain Monte Carlo approach. Particular attention is paid to the prediction of catches for single and aggregated ships.     

找准自己的位置——对地方院校办学定位和发展战略的思考

构建学习型社会,实现高等教育大众化,地方院校的作用不可忽视,关键是要明确办学定位和发展方向。要不断完善功能,创新办学模式,扬长避短,特色发展;坚持以服务为宗旨,发挥本土优势,多层次宽领域办学,全方位多样化发展;以市场和就业为导向,调整专业结构,以就业带动招生,促进学校可持续发展;充分利用外部资源,加强校校合作,与企业和用人单位建立战略伙伴关系,借势发展;走内涵发展为主的路子,不断深化改革,增强办学活力,实质发展。     

Firm-level training in local economic systems: Complementarities in production and firm innovation strategies

The paper presents a conceptual review over the main aspects concerning the role of human capital investments and training activities within production processes, followed by empirical evidence on two local economic systems in Northern Italy, based on recent survey data. Theoretical and empirical considerations are brought together in order to provide new insights on the role of training and the factors associated to training activities at firm level.The potential driving factors of training here analysed compounds structural characteristics, labour demand dynamics, human resource management practices, workforce features, and firm performances. We observe that training activities emerge positively associated with high-performance practices, innovative labour demand features, workforce skill level, firm size, and are affected by labour flexibility in various directions. Empirical evidence confirms most previous results but also adds further important insights. The analysis suggests that a widening gap, between few innovatively evolving and many stagnant firms, could characterise the future dynamics of the Region. The high relevance of structural variables, labour demand factors and HRM/innovation practices shows that regional industrial policies and labour policies should be jointly implemented for increasing potential firm productivity. This is a key concern for the current debate on local systems economic development in the European and Italian environment.     

中国移民政策与亚洲银行移民政策的比较研究

从移民的基本政策、移民安置规划、公众参与、移民的组织机构及责任四个方面 ,对中国移民政策与亚洲银行移民政策进行了对比分析 ,找出之区别 ,以便更好地与国际接轨     

Psychological taxing in Flemish municipalities

We analyse whether the psychological pricing in the private sector has a public sector counterpart in tax policy. Analysing the main theoretical arguments for the existence of price points, and applying them to the public sector, suggests that psychological taxing reveals itself by the use of non-0 ending tax rates. The tax rate endings of the local income taxes, which are set by 308 Flemish municipalities in the fiscal year 1998, suggests the presence of psychological taxing. Non-0 endings occur more frequently in municipalities where demand for public policy is more elastic (and where, therefore, the benefits to the politicians from setting a tax just below a tax point is higher). The pre-tax income inequality and the level of the tax rate positively affect psychological taxing. The latter effect is reinforced in those municipalities where the existing tax rate is above the average tax rate in neighbouring municipalities and below their neighbours’ minimum, although this effect has a limited effect and is offset the further below the minimum the tax is set.     

Local spatial data infrastructure, Trujillo-Peru

The development of a Municipal Information System, or currently better known as a local spatial data infrastructure, is considered complex due to the required inter-institutional relationships. In many developing countries Geographical Information Systems (GISs) are introduced but the benefits are modest as no changes take place in technical and organisational structure of organisations. Digital databases and computer-aided design (CAD) maps are mushrooming in great variety within different private and public institutions, municipal organisations and even within single departments and with structures similar to the paper period and thus operating on a stand-alone basis.Many national mapping agencies are not able to provide large-scale digital urban base maps, while the absence or low quality of cadastres makes those basic core data sets unavailable or inaccessible. The result is that duplication and incompatible data are frequently observed and also donor-driven stand-alone projects have a limited impact through the lack of institutional embedding and are not able to mature from the project to the institutional level. However, a positive sign is that there is an increasing awareness among data producers and consumers that investments in the development of digital data sets should be combined to reduce costs and increase benefits from especially GIS, and information and communication technology (ICT) in general.Within Trujillo a long-term vision was developed to make full use of ICT and GIS to modernise all operations of the Municipality to increase the efficiency and effectiveness of its tasks. However, large investments are not feasible due to the very limited municipal budgets. To guarantee the support of the municipal council, short-term results are required. This paper describes three ‘products’ as part of the vision to develop through a step-by-step approach a local spatial data infrastructure for Trujillo.The three, rather different, products are:

1. fiscal cadastre, to increase municipal revenues through property taxation;

2. an ‘environmental atlas’ based on a compatible spatial and attribute data sets from a variety of organisations; and

3. a municipal website with interactive GIS and meta data information.

The paper concludes with some comments on the institutional and political requirements for the successful development of a local spatial data infrastructure and stresses that such an infrastructure is not a product but an incremental development process that will progress only in case such a process is simple, cost effective, user-friendly, and flexible with clear products.Political interest and institutional stability and genuine interest for inter-institutional cooperation will add much to the success of this process.     

Stress at work and psychological and immunological parameters in a group of Norwegian female bank employees

This study concerned the immunological correlates of stress and work. Self reported stress, emotional state, ego-strength, and defensiveness were examined in relation to measures of cellular immunity (T-cell response to Con A and number of T4 and T8 cells) and humoral immunity (concentrations of immunoglobulins and complement components in plasma) in a group of 96 Norwegian female bank employees. The analyses showed that workload, the stress factor with the highest group mean, was associated with number of T-cells, while strain due to body posture during work was related to concentrations of IgM and C3. Further, depression was significantly correlated with IgM concentration and T-cell number, and anxiety with C3 concentration. T-cell activity was the immunological parameter most consistently associated with psychological well-being, showing positive correlations with defensiveness and ego-strength and negative correlations with anxiety and depression. In conclusion, T-cell number and concentrations of IgM and C3 were sensitive to both work-related stress experience and emotional distress. Coping abilities, indicated by the MMPI Ego-strength scale and emotional distress, were reflected in T-cell activity; insufficient coping was associated with low T-cell activity.