有偏型技术进步、技能溢价与消费不平等
—基于CHNS数据的经验研究
袁礼 刘子兰
摘 要:从技能偏向型技术进步的视角,可以诠释技能劳动和非技能劳动消费不平等背后的原因,演绎有偏型技术进步对收入和消费不平等的“分配效应”和“就业效应”。基于CHNS的微观数据,利用分位数回归方法,本文识别了我国技能偏向型技术进步对居民消费的“分配效应”和“就业效应”及其时滞性,研究表明:技能偏向型技术进步对不同分位数上的居民收入和消费的正向影响呈左低右高的活力U型趋势,能有效促进技能劳动收入和消费的增长,但工资粘性使这一“分配效应”存在滞后性特征;因技能劳动的培育和流动转移的时滞较长,制约技能和非技能劳动供给的调整,“就业效应”在短期内并不显著。因此,应当充分激发有偏型技术进步的“就业效应”,熨平“分配效应”引致的消费不平等。
关键词:消费不平等 技能偏向型技术进步 技能溢价 劳动供给结构
Biased Technical Change, Skill Premium and Consumption Inequality:
Empirical Evidence from CHNS
Li Yuan Zilan Liu
Abstract: From the view of skill-biased technical change, this paper interprets the reason for consumption inequality between skill and labor and deduces the distribution effect and employment effect of biased technical change on income and consumption inequality. Based on the micro-data from CHNS, applying the quantile regression, this paper identifies the distribution effect and employment effect of biased technical change on consumption and their lags. As a result, the positive influences of skill-biased technical change on income and consumption in different quantiles show vigorous U-shape trend, promoting the income and consumption increase of skill. But wage stickiness leads to the lags of distribution effect. Due to the long lags of skill education and mobility, the change of skill and labor employment structure is restricted and the employment effect insignificant in short- run. Hence encourage the employment effect to smooth the consumption inequality induced by distribution effect.
Keywords: Consumption Inequality Skill-biased Technical Change Skill Premium Employment Structure
JEL Classification:D12 O33 J21
“输煤转输电”效应模拟分析与利益补偿机制设计
—基于三区域CGE模型的山西—山东案例
姜春海 宋志永 李向
摘 要:“输煤转输电”能源输送战略可显著减少京津冀等东部沿海地区煤炭消费,有效治理雾霾、改善环境。本文基于三区域CGE模型,以山西—山东为案例,将山西输往山东的煤炭量变化幅度选定在[-15%,15%]之间,以每一个百分点作为一种调整方案,即煤炭输送量减少1%,同时电力输送量增加1%,定量分析了山西至山东“输煤转输电”的30种调整方案对山西、山东及其他地区的经济、社会和生态效应。研究发现:随着“输煤转输电”力度加大,山西GDP、财政收入、社会就业和居民福利都呈下降趋势,山东和其他地区GDP、财政收入、社会就业和居民福利则都呈增加趋势。与拟通过“输煤转输电”来治理东部地区雾霾等大气生态问题的政策期望目标截然相反,山西、山东和其他地区的二氧化硫、二氧化碳排放量都呈增加趋势。按照“受益者付费,受害者得到补偿”的原则,山东作为受益端应该对山西进行补偿。在“输煤转输电”导致山东对山西进行补贴时,从山东角度的最高补贴额度等于全国总福利最大化角度下的最优补贴额度,但都低于从山西角度的最低补贴额度。此时,山西GDP、社会就业、财政收入仍然受到一定幅度的损失,因此,除了山东外,其他地区或中央也应该对山西进行一定补偿。
关键词:三区域CGE模型 能源运输 输煤转输电 政府补贴
Analysis of Effect Simulating and Design of the Mechanism of Interests Compensating in “Coal transportation into Electric Power Transmission”: A Case Study of Shanxi - Shandong Based on the Three Area CGE Model
Chunhai Jiang Zhiyong Song Xiang Li
Abstract: “Coal transportation into electric power transmission” energy transmission strategy can significantly reduce the Beijing, Tianjin and other eastern coastal coal consumption, effective governance haze, improve the environment. This paper based on the three area CGE model, taking Shanxi Province - Shandong Province as a case study of, Shanxi coal exports to the variations of Shandong selected in [-15%, 15%], to every one percentage point as an adjustment scheme, namely coal transport volume decreased 1%, while electricity increased by 1%, the quantitative analysis of the Shanxi - Shandong “coal transportation into electric power transmission” 30 adjustment schemes of Shanxi, Shandong and other areas of economic, social and ecological effects. The study found that: with the “coal transportation into electric power transmission” intensified, Shanxi GDP, fiscal revenue, employment and social welfare of the residents showed a trend of decline, Shandong and other areas of GDP, fiscal revenue, employment and social welfare of residents is increasing. And intends to policy target to govern the eastern region of the haze and other air ecological problems in the opposite, Shanxi, Shandong and other areas of sulfur dioxide, carbon dioxide emissions increased. In accordance with the principle of “paying the beneficiary and the victim compensated”, Shandong should compensate Shanxi as a beneficiary. In the “coal transportation into electric power transmission” in Shandong subsidies for Shanxi, the view from Shandong the highest amount of subsidies is equal to the optimal amount of subsidies of the total welfare maximization angle, but lower than the minimum amount of subsidies from the perspective of Shanxi. At this point, Shanxi, GDP, employment, financial income is still a certain range of losses, therefore, in addition to Shandong, other regions or the central authorities should also make certain compensation for Shanxi.
Keywords: The Three Area CGE Model Energy Transportation Coal Transportation into Electric Power Transmission Government Subsidy
JEL Classification:Q48 Q52 Q58
O2O模式下纵向控制、道德风险与监管设计
邵彬涛 任剑新
摘 要:O2O模式为代表的互联网产业变革,为人们生活带来舒适与便利,但同时暴露出的产品质量问题却反映出监管的不力。本文通过构造O2O平台企业纵向控制的分析框架,剖析信息不对称条件下“缔约与供求相分离”的O2O模式存在的道德风险问题,包括:信息不对称与声誉、交易成本与契约选择以及一体化结构内的机会主义。平台企业通常会运用中间品定价与进入门槛两项机制,化解服务商机会主义的行为。现实中,平台企业只会选择自身效用最大化,并设法趋近该目标,从而与社会整体福利产生偏差。
关键词:纵向控制 道德风险 O2O模式 动态优化 激励相容
Vertical Integration, Moral Hazard, and Regulatory Design in O2O Mode
Bintao Shao Jianxin Ren
Abstract:As the representative of the latest Internet industry, O2O mode which makes our life more comfortable and convenient, also has led serious quality problems as to poor supervision. Our work put forward an analysis framework of vertical integration by platform of O2O. Because of "separation of contract and delivery", the moral hazard problems were generated in O2O mode, such as asymmetric information vs. reputation, transaction cost vs. contract, and opportunism in integration. Platform companies usually use the means of intermediate goods pricing and barriers to entry to resolve the service-providers’ opportunistic behaviors. In the reality,the platform enterprises will only choose their own utility maximization, and try to approach the goal. Thus, they may deviate from the overall welfare of society.
keywords:Vertical Integration Moral Hazard O2O Mode Dynamic Optimization Incentive Compatibility
JEL Classification: L20 L80
城市蔓延、生产性服务业集聚与污染排放
——基于京津冀、长三角和珠三角城市群的实证研究
张志彬
摘 要:在我国城市化加速推进过程中,土地城市化快于人口城市化的城市蔓延问题日益凸显,引发土地低效利用、公共设施浪费和生态环境破坏等突出问题。本文分析城市蔓延、生产性服务业集聚与污染排放之间的内在联系,并利用2003-2015年京津冀、长三角和珠三角城市群的面板数据进行了实证研究。结果表明:城市蔓延加重了城市的污染程度,但生产性服务业的集聚发展、市场自由度的提高和经济发展水平的提升为实现污染减排创造了条件。因此,强化环境规制,发挥生产性服务业的支撑作用,使城市的空间扩张和产业结构调整相契合,有利于缓解城市生态压力,提升城市经济可持续发展能力。
关键词:城市蔓延 生产性服务业集聚 工业污染 城市群
Urban Sprawl, Producer Services Agglomeration and Pollution Emission:
Based on the empirical study of Beijing Tianjin Hebei, Yangtze River Delta and Pearl River Delta Urban
Agglomeration
Zhibin Zhang
Abstract: In the process of accelerating urbanization in China, the urbanization of land is faster than that of population urbanization, and the problem of urban sprawl is becoming more and more prominent, resulting in inefficient use of land, waste of public facilities and destruction of ecological environment. This paper analyzes the internal relationship between urban sprawl, producer services agglomeration and pollution emission, and makes empirical research on panel data of Beijing Tianjin Hebei, Yangtze River Delta and Pearl River Delta Urban Agglomeration in 2003-2015 years. The results show that the urban sprawl aggravates the pollution level of the city, but the agglomeration development of the producer services, the improvement of market freedom and the promotion of economic development have created conditions for pollution reduction. Therefore, to strengthen environmental regulation, play the supporting role of producer services, the city space expansion and adjustment of industrial structure fit, the city will help alleviate the ecological pressure, enhance the ability of city economic sustainable development.
Keywords: Urban Sprawl Producer Services Agglomeration Industrial Pollution Urban Agglomeration
JEL Classification: O14 Q52
企业合作收益分配与高管薪酬的定价机制
王广亮 张子澍
摘 要:从团队合作生产的角度看高管薪酬在本质上是一个分配企业收益问题。本文从合作收益分配出发分析了企业高管分享企业剩余的合理性,又以企业家理论和契约理论为基础讨论了高管薪酬的企业定价机制。本文认为高管的薪酬取决于高管和董事会之间的权力结构:企业高管的权力越大高管的薪酬就越高;董事会权力越大则高管的薪酬就越低。最优契约理论和管理者权力理论关于高管薪酬定价的分歧正是源于假设企业内部不同的权力结构。为了验证这一理论本文以我国上市公司为样本检验了企业权力结构对高管薪酬的作用机制。结论表明高管权力显著增加了高管薪酬,董事会权力则显著降低了高管薪酬,而且国有企业和非国有以企业中的权力较量有显著的差异。在非国有企业中高管和董事会之间的权力较量比较明显,而在国有企业中主要是高管权力在起作用。地方国有企业的董事会作用不仅没有降低高管薪酬,反而增加了高管薪酬,但这与国有企业的公司治理结构有关。
关键词: 合作收益 高管薪酬 权力结构 定价机制
Allocation of Cooperation Benefits and Pricing Mechanism of Executive Compensation
Guangliang Wang Zishu Zhang
Abstract: From the perspective of team work, executive compensation is an issue on allocation of corporate earning in its essence. This paper analyzes the pricing mechanism of executive compensation in enterprise based on cooperative benefits. It is concluded that executive compensation depend on the power structure between executive and board. That is to say,the more powerful the executive, the higher compensation they will get. And the more powerful the board, the lower executive compensation will be. In fact, the divergence on executive compensation between the principal agent theory and the managerial power theory is derived from different assumption to power structure. This paper takes Chinese listed companies as samples to test the impact of the executive-board power structure on executive compensation. The results shows that the executive power has significant positive impact on executive compensation in listed companies, while board power restrained executive compensation. In order to establish reasonable executive compensation regulation in state-owned company, some suggestionsare put forward to balance the executive-board power structure in state-owned companies.
Keywords: Cooperation Benefits Executive Compensation Power Structure Pricing Mechanism
JEL: C12 D33 L16
房地产业繁荣与制造业“产业空心化”
----基于上市公司的微观证据
吕玉霞
摘 要:房地产业高速发展对中国经济社会发展产生了深远影响。房地产业过度发展可能会挤出投资而对制造业投资、研发、生产率等方面产生不利影响。本研究考察了制造业上市公司受房地产业高利润吸引而直接投资该产业所产生的“产业空心化”效应。研究发现,主业收益率过低是制造业上市公司投资房地产的重要动因;制造业ST上市公司通过投资房地产实现风险转移,“产业空心化”效应对于新成立公司和大公司的影响更为显著。制造业公司投资房地产业所引发的“产业空心化”效应会对制造业长期发展产生重大不利影响,决策部门在调整相应政策要充分考虑这些因素。
关键词:制造业 房地产 产业空心化
Housing Booming and Hollow-Out of Manufacturing Sector: Evidence from Enlisted Companies
Yuxia Lv
Abstract: The housing booming puts full-flung influence on the development of economics in China. The appreciation in land and house value facilitates increase the mortgage value and hence triggers the financial accelerator. The research investigates the hollow-out effects in manufacturing sectors, in which the firms were attracted by high profit in housing sector and transfers investment from their primary business to housing development. We find that, the low return to asset plays an important role in attracting enlisted companies' direct investment in housing development. The ST companies tend to bet the investment in housing development and transfer the risk to share holders. The hollow-out effect concentrates on the young and large companies. Since the hollow-out effect due to housing boom inversely affect the long-run growth in manufacturing, the policy makers should take into account these factors extensively.
Keywords: Manufacturing Sector Housing Booming Hollow-Out Effect
JEL Classification: L10 L60
信息不确定条件下政策性银行绿色金融业务博弈分析
徐胜 陈嘉楠
摘 要:政策性银行作为专门贯彻、配合政府社会经济政策意图的金融机构,与商业银行相比所具有的非盈利性特征和更加显著的影响力,让其在绿色金融业务的发展过程中具有非常重要的作用。而污染企业对治污策略的选择、政策性银行绿色金融业务的落实之间均存在着博弈的过程。本文构建博弈模型,对政策性银行与企业、行业监管部门之间的选择进行分析,通过分析推演得出结论:获利大小决定企业是否治污,信贷投放进度、与企业间沟通、监管部门效率都会影响政策性银行绿色金融实施效果,并据此提出政策性银行的绿色金融发展建议。
关键词:政策性银行 绿色金融 静态博弈 演化博弈
The Game Analysis of Green Finance in Policy Banks
Under Information Uncertainty
Sheng Xu Jianan Chen
Abstract: Policy bank, as a financial institution to implement the government's social and economic policy, plays an important role in the development of green finance for its nonprofit characteristics and more significant influences compared to commercial banks. The choice of corporate pollution control strategy and the implementation of green finance of banks are result of multi game. This paper constructs a game model to analyze the choice between policy banks and enterprises, industry regulation organization. Conclusions can be drawn from the analysis: The cost is the determinant factor of the firm's pollution control decision. The policy bank credit control schedule, the communication between the policy bank and the enterprise and efficient law enforcement of the supervision departments will all effect the implementation of the green finance policy of the policy bank. Policy recommendations on the development of green finance for policy banks are put forward according to the conclusions.
Keywords: Policy Banks Green Finance Static Game Evolutionary Game
JEL Classification: G14 G21
企业社会资本、组织学习和技术创新绩效的关系
——基于山东省高新技术企业的实证研究
张鹏
摘 要:知识经济背景下,组织学习能力越来越重要,而企业具有良好的社会资本会在很大程度上促进企业的组织学习。在分析企业社会资本和组织学习内涵的基础上,提出了企业社会资本和组织学习的测量维度,并通过山东省内220家高新技术企业调查问卷的分析,探讨了二者与技术创新绩效的关系。通过实证研究,发现企业社会资本的结构维度、关系维度和认知维度对于企业的组织学习和技术创新绩效的影响程度存在一定的差异,利用式学习和探索式学习对企业技术创新绩效有不同程度的影响,而且它们相互作用会影响技术创新绩效。本文为企业积极构建良好的社会资本、促进组织学习、改善技术创新绩效提供了理论支持。
关键词:社会资本 组织学习 技术创新绩效 高新技术企业
The Relationship among Corporate Social Capital, Organizational Learning and Technological Innovation
Performance
--An empirical Study Based on High Tech Enterprises in Shandong
Peng Zhang
Abstract: Under the background of knowledge economy, the ability of organizational learning is becoming more and more important. Based on the analysis of the connotation of corporate social capital and organizational learning, the measurement dimensions of corporate social capital and organizational learning are put forward. Based on the questionnaire survey of 220 high-tech enterprises in Shandong Province, the relationship between the two factors and technological innovation performance is discussed. Through empirical research, this paper finds that there are some differences between the impact of corporate social capital structure dimension, relational dimension and cognitive dimension for organizational learning and technological innovation performance, exploiting learning and exploration learning have varying degrees of impact on technological innovation performance, and their interaction will affect the performance of technological innovation.
Keywords: Corporate Social Capital Organizational Learning Technological Innovation Performance High Tech Enterprises
JEL Classification: L22 D23 D24 M54