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使用CFPS, CHFS, CHNS数据实证研究的精选文章专辑！We propose a Bayesian two-part latent variable model (TPLVM) to investigate the impacts of financial literacy on both sides of the household balance sheet, namely, household debt (secured debt and unsecured debt) and assets (housing assets and non-housing financial asset... 阅948 转10 评0 公众公开 20-02-08 09:27 |
但作者认为大城市收入溢价并不是因为大城市的员工本身能力更高，要得到这一点结论必须考虑员工在大城市积累的人力资本动态效应和员工自身能力互补作用。两者的差异恰好反映城市静态效应和动态效应各占一半。作者依次检验了大城市存在收入溢价的三个可能原因，发现大城市的收入溢价来源于大城市生产静态优势和大城市能促进在职人力资本投资，而... 阅171 转0 评0 公众公开 20-01-23 10:55 |
【香樟推文1674】通胀预期与企业经济决策——新的因果证据。一、通胀预期与企业经济决策。也就是验证信息的持久性不会导致通胀预期变化，而是每次提供的实际通胀信息导致了通胀预期变化。同时作者通过计算通胀预期的二阶矩，也就是通胀预期的不确定性，发现高的通胀预期意味着高的不确定性。对企业提供近期免费公开的实际通胀就可以改变企业的... 阅170 转2 评0 公众公开 20-01-19 08:52 |
近期国际顶级期刊JFE系列。But it also causes better informed managers to take larger positions, which makes their alpha noisier—although a significant fraction of managers builds strong informational advantages, statistical significance and persistence of alpha concentrate in underperforming funds. I argue that in-hou... 阅95 转0 评0 公众公开 20-01-14 16:04 |
会计学术联盟学术快报栏目荣誉出品。来源：西南财经大学官网会计学术联盟报道：西南财经大学会计学院涂国前教授作为通讯作者撰写的论文Entrusted loans: A close look at China''''''''s shadow banking system在金融和财务领域国际顶尖期刊Journal of Financial Economics（2019年第7期）发表。8. 涂国前，控... 阅682 转2 评0 公众公开 20-01-12 08:41 |
In these markets, investors react favorably to announcements granting more power to CEOs, and CEO power is associated with higher market value, sales growth, investment, advertising, and the introduction of more new products.Our results remain significant when addressing the endogeneity of CEO power by instrumenting C... 阅89 转0 评0 公众公开 19-12-31 12:36 |
Using 20 interviews with experienced auditors, we consider behavioral factors (e.g., perceived power of and trust in the PCAOB) that can impact the level and form of auditor compliance according to theory from the slippery slope framework on audit regulation (Kirchler et al. 2008;Investment Experience, Financial Liter... 阅248 转0 评0 公众公开 19-12-18 22:45 |
Song Changcheng (Singapore Management University)AbstractWe use a large housing transaction data set in Singapore to study whether real estate agents use information advantages to buy houses at bargain prices.Consistent with information asymmetries, agent buyers have more information advantages in less informative env... 阅239 转0 评0 公众公开 19-12-13 13:55 |
理论模型本文使用一种新方法来分离出错误线人机制：考察企业投资对产品市场同行噪声的反应，而非对自身股价的反应，这样可以控制企业自身股价的影响，从而仅分析股价噪声所产生的影响。（三）同行股价噪声影响的横截面检验企业投资对同行股价噪声敏感性的横截面差异也证实了“错误线人”机制。但是，这些机制并不能预测管理者会对同行股价噪声... 阅212 转0 评0 公众公开 19-12-12 12:14 |
图1 美国Section 179和bonus depreciation基本情况由于两项政策几乎同时实施，因此企业会首先接受Section 179的折旧扣减，剩余部分再接受Bonus depreciation扣减，如图1（d）所示：当企业投资在10万美元以下，其可以利用Section 179全部进行扣除；各州折旧政策变动情况主要是根据Lechuga (2014)中所整理收集的各州Bonus depreciation的扣除比例... 阅101 转0 评0 公众公开 19-12-09 09:44 |
