全球化与高管薪酬--基于中国上市公司的经验证据

基于2003—2021年A股制造业上市公司数据,本文从FDI流入的角度实证检验了全球化对高管薪酬的影响及其作用机制。研究发现,全球化显著提高了高管薪酬。该结论在考虑了内生性问题、控制同时期其他政策影响以及遗漏变量问题后依然稳健。此外,进一步研究后发现,全球化主要通过公司治理中的独立董事治理影响高管薪酬,市场机制的作用有限。拓展性研究还发现,全球化对高管薪酬的作用表现出异质性。全球化在非垄断行业和国有企业中具有更大的影响。相较于普通高管,权力型高管在全球化中受益更多,这意味着随着全球化的进展,企业内部高管之间的不平等在加剧。本文的发现提供了全球化对高管薪酬具有积极影响的中国证据,有助于丰富国际贸易与顶端收入分配领域的文献。

论个人信息的反垄断法保护--以“滴滴案”为例

在滴滴案中,我国反垄断执法机构没有考虑通过反垄断法规制个人信息损害行为。但是,滴滴的数据处理行为与其市场力量之间的紧密联系隐含着反垄断法问题。反垄断法对市场力量的形成和运用的关注为其审查具有市场支配地位的滴滴的个人信息处理行为提供了法理基础。反垄断法通过维护个人信息保护条件的竞争促进个人信息保护更加地全面和持续,彰显了其保护个人信息的必要性。反垄断法保护个人信息需要从三个方面展开,一是回归保护竞争范式的反垄断分析方法,二是依循反垄断法的行为规制路径,三是平衡与个人信息保护制度的冲突。

An Extension of One-Period Nash Equilibrium Model in Non-Life Insurance Markets

This paper deals with an extension of the one-period model in non-life insurance markets (cf. [1]) by using a transition probability matrix depending on some economic factors. We introduce a multi-period model and in each period the solvency constraints will be updated. Moreover, the model has the inactive state including some uninsured population. Similar results on the existence of premium equilibrium and sensitivity analysis for this model are presented and illustrated by numerical results.

Development of contingent valuation method in evaluating non-market values of resources and environment in China

The contingent valuation method （CVM） is one of the main methods for evaluating non-market values of resources. It originated in the United States and was introduced into China during the 1980s and 1990s. However, application of CVM in China is highly controversial based on three primary aspects： （I） the appropriate guidelines for CVM; （2） the elicitation techniques for willingness to pay （WTP）; and （3） reliability and validity testing of CVM. The major objectives of this paper are to i^eview the recem devel- opments pertaining to guidelines, elicitation techniques, and reliability and validity testing for application of CVM, and to summa- rize the limitations of and measures for improving application of CVM in China. The applicability of CVM in China is discussed to enhance the future development of CVM in China.

Exploring switch tendency between cyclists and non-cyclists using market segmentation approach

This work aimed to explore the switch tendency of bicycle use between cyclists and non-cyclists.The attitude based market segmentation approach was proposed to achieve the research objective.The filed investigations were conducted in Nanjing,China,to obtain travelers' actions and attitudes towards bicycle uses.The structural equation modeling(SEM) was used to identify the attitudinal factors indicating variables and to explore the interrelationships among them.The SEMs were developed separately for the cyclist group and the non-cyclist group.All respondents were clustered into eight distinct segments by six selected attitudinal factors.The mode switch tendency and attitude in each segment is different from others,indicating that different segments have particular policies or strategies to encourage cycling.Policy implications that best serve the potential bicycle users were discussed to reduce the number of cyclists who have high tendency to use other modes,and increase the possibility of using bicycle in the non-cyclists group with the moderate and high switch tendency.

肥胖儿童non-HDL-C、remnant cholesterol与亚临床动脉粥样硬化的关系

目的:了解non-HDL-C和remnant cholesterol与肥胖儿童亚临床动脉粥样硬化(AS)的关系。方法:根据甘油三酯(TG)水平将65例肥胖儿童(肥胖组)分为I组(TG≥2.3 mmol/L)32例,II组(TG<2.3 mmol/L)33例,与肥胖组儿童性别年龄相匹配的正常体质量儿童30例为III组(对照组)。比较3组儿童血脂指标,对肥胖组各项血脂指标与血浆致动脉粥样硬化指数(AIP)进行相关性分析,肥胖患儿体质指数、血脂指标与颈动脉内径、内膜-中层厚度(c-IMT)、血流参数进行相关性分析。结果:I组、II组的TG、总胆固醇(TC)、低密度脂蛋白胆固醇(LDL-C)、non-HDL-C、remnant cholesterol、AIP均较对照组升高,高密度脂蛋白胆固醇(HDL-C)较对照组降低,且I组的remnant cholesterol、AIP均较II组升高。肥胖组儿童AIP与TG、non-HDL-C、remnant cholesterol呈正相关,与HDL-C呈负相关。37例行颈动脉超声检查的肥胖儿童的c-IMT较正常儿童的增厚。结论:non-HDL-C、remnant cholesterol在肥胖儿童亚临床AS中有重要作用,在肥胖儿童血脂异常的治疗中应关注non-HDL-C、remnant cholesterol的变化。

Shenqi Fuzheng injection combined with GP chemotherapy in the treatment of advanced non-small cell lung cancer： a meta-analysis

Objective： To evaluate the clinical efficacy of Shenqi Fuzheng injection combined with gemcitabine plus cisplatin（GP） in the treatment of advanced non-small cell lung cancer （NSCLC）. Methods： we performed a systematicsearch in the electronic databases such as Cochrane Library, Pubmed, Embase, Chinese Journal Full-text Database,Chinese Biomedical Literature Database, Chinese Science and Technology Periodical Full-text Database andWanfang Database up to 30 January 2017. Randomized controlled trials （RCT） of Shenqi Fuzheng Injectioncombined with GP chemotherapy in the treatment of advanced NSCLC were searched, and all the RCTs wereconducted on methodological quality assessment. Data extraction and data analysis were according to standards ofCochrane systematic review. Results： Eight trials were included including a total of 701 patients. Meta-analysisresults： Shenqi Fuzheng injection combined with GP chemotherapy could significantly improve the functionalstatus of patients with NSCLC （OR = 3.44, 95% CI [2.26, 5.25], P 〈 0.0001） and clinical treatment efficacy （OR =（OR = 0.31, 95%CI [0.20, 0.47], P 〈 0.0001. The rate of leukopenia （OR = .31, 95%CI [0.20,0.47], P 〈 0.0001）,thrombocytopenia （OR = 0.58, 95%CI [0.37, 0.91], P = 0.020）, hemoglobin decline （（OR = 0.31, 95%CI [0.16,0.59], P = 0.0004） and incidence of gastrointestinal reactions （OR = 0.58,P 〈 0.05） could be reduced. Conclusion：Shenqi Fuzheng injection combined with GP chemotherapy in the treatment of advanced NSCLC obtainedsignificantly clinical efficacy. The quality of the literature incorporated is low, the conclusion requires high-qualityresearch to further prove.

Analysis of Numerical Results in High Temperature Congealment and Chemistry Non-equilibrium Flow Field

Using the air plasma ignition technique, physicochemical process of burning can be accelerated; concentration limit ofretrofires both can be extended; reliability of retrofires and stability of burning can be improved. In this paper, using internalequivalent heat area in place of electric are that created Ohm heat, the flow fields of thermodynamic equilibrium chemistry con-gealment and chemistry non-equilibrium in the plasma generator were simulated. The influences of the inlet prerotation angleof air, the inlet total pressure of air and the airflow compression angle of spray nozzle on the temperature on the surface of elec-

Turbulent Flow Action of Pulp in Wet - Laid Non - Woven Processes

The paper deals with the fluid field of web forming in wet-laid non-woven production.The influence of the turbulent flow on blending fiber and occluded fluid produced in pulp flow has been discussed in theory and practice.The suitable use of the imported velocity of pulp is very important in producing wet-laid products of good quality.

CYFRA 21-1 as an early predictor of first line chemotherapy response in advanced non small cell lung cancer

Objective： In an era of ever evolving, promising new therapies for advanced non small cell lung cancer （NSCLC）, early predictors of response to therapy, are needed. We evaluated early variations in CYFRA 21-1 serum levels of patients with advanced NSCLC receiving first line chemotherapy and correlated the results with objective tumor response. Methods： 29 consecutive, previously untreated, patients of advanced non small cell lung cancer, with measurable disease on CT scan were evaluated. All patients were treated with conventional systemic chemotherapy, although the choice of chemotherapy was left to the discretion of the treating physicians. Serum samples were obtained immediately before the start of 1st and 2nd cycles of chemotherapy. CYFRA 21-1 was measured with an electrochemiluminescense immunoassay on an automatic analyzer （Elecsys 2000; Roche Diagnostics）. Response was evaluated using Response evaluation criteria in solid tumors （RECIST） criteria. Results： 10 patients had partial response, 9 patients had stable disease and 9 had progressive disease. None of the patients had complete response. 21/29 （72%） patients had an elevated baseline value of CYFRA 21-1.62% patients （18/29） had a decrease in CYFRA 21-1 after 1 cycle of chemotherapy. The average reduction in the 2nd reading was irrespective of whether baseline value was normal or not. The average reduction was statistically significant （P = 0.002; 95% CI, from 0.8369 to 3.49464; t test）. 8 out of 10 （80%） patients with partial response had a reduction in their 2nd reading of. CYFRA （P = 0.019; 95% CI, from 0.81965 to 7.20035; t test） which was significant. We also observed that 6/9 （66%） patients whose disease remains stable also had a decrease in their subsequent reading （P = 0.0106; 95% CI, from -0.44942 to 3.82720; t test）, though it was not significant statistically. Although 5 out of 9 （55%） patients, who had an increase in their CYFRA 21-1 level, had progressive disease, but it was not statistically significant （P = 0.537; 95% CI, from -1.20021 to 2.13354; ttest）. 14 out of 19 （73%） who either had partial response or had stable disease, had a reduction in their 2nd value of CYFRA 21-1 and was significant statistically （P = 0.004; 95% CI, from 0.74792 to 3.50208; t test）. We also observed that except for 1 patient, all patients who had a decrease of 42% or more in their subsequent CYFRA 21-1 level, were those who had either responded to chemotherapy or had stable disease （P = 0.001）, which was statistically significant. Conclusion： We can conclude that monitoring of serum marker CYFRA 21-1, early dudng first-line chemotherapy may be a useful prognostic tool for evaluation of early tumor response in patients with advanced NSCLC.

MiR-16-5p plays an inhibitory role in human non-small cell lung cancer through Fermitin family member 2

Increasing evidence indicates that aberrant expressions of some microRNAs are associated with cancer progression.However,the roles and biological mechanisms of miRNA-16-5p in human non-small cell lung cancer(NSCLC)are not to be well studied.Here,we validated that the expression of miR-16-5p was decreased significantly in NSCLC samples and cell lines.The correlation between the clinicopathological features of NSCLC and the miR-16-5p expression showed that the expression of miR-16-5p in non-small cell lung cancer was linked with the advanced TNM stage,positive lymph node metastasis,with short overall survival(OS).Also,a negative correlation between miR-16-5p and Fermitin family member 2(FERMT2)was observed,implying there may be a potential link about their regulation.The hypothesis was further confirmed by in-silico analysis and dual-luciferase reporter assay.Moreover,we demonstrated that the transfections of miR-16-5p mimics could alter some biological characteristics of NSCLC cells remarkably accomplished by the expression variance of FERMT2 in vitro and in vivo assays.Summarily,this study demonstrated that miR-16-5p,as a tumor suppression factor in NSCLC by targeting FERMT2,could serve as one promising biomarker in the prediction for NSCLC patients.

The 4th International Exhibition on Refractories, Industrial Ceramics and Furnaces(RCF Expo'2003)Beijing, China, April 15-17, 2003In conjunction with China Refractories Seminar' 2003-Technology and Markets

Organizers and Sponsors: China Association of Refractories Industry The Chinese Society for Metals The Chinese Ceramic Society

RE Market May 10-20

Learned from Inner Mionsolia Rare Earth Association, domestic rare earth market was in good situation driven by high demand. Price of neodymium rose strongly. Dysprosium oxide and terbium oxide still hovered at the hisger price level. Price of europia remained stable.

China Domestic Textile and Garment Market Likely Grows 20-25% in 2010

According to statistics, China’s domestic clothing consumption averaged an annual growth rate of 14.72 percent from 2001 to 2008, 2009 growth rate is expected to remain more than 15 percent, although exposed

考虑新能源发电商租赁共享储能的电力市场博弈分析

针对实际中储能资源利用率不高等问题,提出一种新能源发电商和储能运营商之间的储能租赁共享模式,其中储能运营商除了租赁部分储能给新能源发电商外,还可利用剩余储能独立参与市场竞争,因而该模式有助于提高储能资源利用率。为了研究该共享模式对电力市场运行的影响,建立了考虑该共享模式的日前电力市场双层博弈模型,其中,上层为储能运营商与多个新能源发电商基于讨价还价博弈理论来确定储能租赁价格的优化模型,下层为新能源发电商、储能运营商与传统发电商作为价格影响者参与日前电力市场竞争的多时段非合作博弈模型。然后采用非线性互补方法将双层博弈模型转化为单层优化问题求解。最后通过算例仿真验证所提出租赁模式的合理性和有效性。

《美墨加协定》“毒丸条款”法律性质之辨析

《美墨加协定》第32.10条强行赋予缔约方不得与一个“非市场经济国家”达成自由贸易协定的单向性义务。从性质上讲,该条款属于“驱逐”条款,而非“退出”条款,目的在于迫使缔约方与中国作切割,因为美国、墨西哥、加拿大三国目前都未正式承认中国为市场经济国家。美国政府官员也毫不讳言将此视为孤立中国的“毒丸条款”。面对以美国为首的西方国家推出的涉华贸易制裁新措施,我们需要正视“非市场经济国家”概念背后的法律逻辑和随之而来的救济难度。在美国力图架空WTO规则的背景下,解析“毒丸条款”的非法性对于我们认清贸易保护主义本质和捍卫多边贸易体制具有重要意义。与此同时,中国也可以通过积极加入区域贸易协定来化解涉华贸易制裁带来的消极影响。

论中国碳市场不良资产的表现与法治应对

碳市场的不良资产代表了碳信用与交易预期落空的不良结果,存在基础不良资产、直接不良资产与进阶不良资产三种表现,拥有亏空价值虚拟性、成因复杂性等特征,对应形成干扰市场交易、阻碍低碳减排的双重危害。基于此,该研究采用规范分析、案例调研等方法,全面分析了碳市场不良资产的定性与法治约束现状,并尝试总结碳市场不良资产规制的理念要义与法治改革措施。研究发现:在不良碳资产的定性上,相应法律缺乏识别对应碳资产不良化的自觉,亦不具备界定其内容与范围的实践。在不良碳资产的预防上,已有的法治安排难以克服企业经营不当、市场环境不佳、虚假承诺与市场投机行为等导致资产不良化的负面因素。在不良碳资产的处置上,现行法律不仅在处置主体、处置内容、处置程序与处置救济领域存在规范空白,仅有的关联尝试亦未契合碳市场不良资产消化的经济规律。因此,有必要着眼于不良碳资产形成与消除的逻辑脉络:在理念层面,一是应推崇透明的竞争观,尽可能消除信息不对称所带来的非正义。二是需要破解利益博弈的“囚徒困境”,充分提振碳市场维持运行的信心、保持信息的顺畅流通、改变碳减排交易的利益总量预设,引导企业积极参与碳市场活动。三是应尽可能缩小承诺兑现的利益差距,避免价值泡沫的形成。在实践层面,一是应在规则与实践中明晰碳市场不良资产的属性、内容与影响。二是应形成预防不良碳资产累积的全面规制体系。三是需要以一体化思维应对碳市场不良资产的处置问题。

碳市场建立对非控排企业绿色创新的影响研究

以尚未纳入碳交易体系的上市公司为样本,基于溢出效应框架分析碳市场建立对非控排企业环保决策的影响。研究发现,客户被纳入碳市场交易促进了非控排供应商企业的绿色创新。其作用机制在于,碳交易下的控排企业绿色创新具有基于生产网络的压力效应和动力效应,能够激发关联非控排企业的绿色创新意愿,并助推其绿色创新能力提升。这一溢出效应有助于实现非控排企业绿色创新增量提质,且该过程具有方向性,碳市场建立并不存在基于生产网络“自上而下”的治理效果外溢,相关影响在非控排企业客户集中度较高、绿色创新基础较好及环境不确定性较高时更加明显。此外,碳市场建立的绿色创新溢出效应对于推动非控排企业可持续发展具有积极作用。研究结论为高效发挥碳市场绿色治理效果、深化环保改革以促进经济高质量发展提供了管理启示。

“两个毫不动摇”的政治经济学解析

公有制经济和非公有制经济都是社会主义市场经济的重要组成部分,都是推进中国式现代化的重要力量。“毫不动摇巩固和发展公有制经济,毫不动摇鼓励、支持、引导非公有制经济发展”是我们党在推进中国式现代化进程中确立的一项重大方针,同时也是中国式现代化进程中不断推进马克思主义中国化时代化的重大创新。我们决不能简单地把马克思关于资本主义生产方式的理论分析套用到社会主义情形,而必须在生产力和生产关系的矛盾运动中、在商品价值和使用价值的有机统一中、在中国式现代化和马克思主义中国化时代化的历史过程中,深刻认识“两个毫不动摇”的理论逻辑、历史逻辑和实践逻辑,深刻认识社会主义市场经济条件下公有制经济和非公有制经济的优势互补、相互促进和共同发展。