Cash flow sensitivities during normal and crisis times: Evidence from shipping

Using a system of equations model, we analyze how cash flow shocks influence the investment and financing decisions of shipping firms in different economic environments. Even financially healthy shipping firms felt strong negative effects on their financing activities during the recent crisis. These firms were nevertheless able to increase long-term debt. Banks internalized the impact of foreclosure decisions on vessel prices and avoided an industry-wide collateral channel effect. Even during benign economic conditions, financially weak shipping firms underinvest because of their inability to raise sufficient external capital. The substitution between long- and short-term debt during the pre-2008 crisis periods shows that the composition of financing sources is more indicative of whether firms face financial constraints than the pure size of the financing-cash flow sensitivities. An analysis of firms’ excess cash holdings confirms the importance of financial flexibility.     

How much disruption to activities could fuel shortages cause? – The British fuel crisis of September 2000

In September of 2000 the UK experienced a blockade of oil refineries in response to rising fuel prices. These protests resulted in severe fuel supply disruptions that intensified over the course of about one week. During the peak of the crisis, travel activity by car was curtailed. This paper analyzes survey data collected about two months after the crisis utilizing the recent memory of respondents as to how they would expect this sort of disruption to affect their participation in daily activities. Specifically, we focused on a variety of non-discretionary and discretionary activities and examined what factors are associated with respondents expecting disruption to those activities. Statistical models were developed to analyze how demographic factors, commute mode selection, vehicle characteristics, and various other factors can explain how individuals expect disruption to their activities. Results suggest that the majority of individuals do not expect major disruptions, although for more car-dependent individuals, disruption was expected to be substantial, especially for work-related trips. These results have implications for the potential success and benefits of an integrated transport policy.     

2003年SARS对我国铁路客运量的后影响评价

2003年SARS是高传染性的公众健康危机,我国铁路旅客运输出现严重“滑坡”并蒙受巨大损失。本文依据本底趋势线理论,对此次危机造成铁路客运量损失、危机生命周期及全国28个省市区差异进行了定量分析与估算。结果显示:①2003年SARS共造成铁路客运量损失1.043亿人,占全国客运量总损失的10.22%,相对损失率为9.69%;②2003年3~4月危机开始生成显现,5~6月全面爆发并达到鼎盛,7~10月为衰减恢复期,SARS危机对铁路客运的影响持续8个月;③SARS危机对全国各省份铁路客运量所造成的损失差异较大,其中,北京、辽宁、广东、四川、黑龙江、河北的客运量损失在686万~867万人,江苏、河南、浙江、陕西、吉林、上海、山西的客运量损失在417万~607万人;④剔除青海和广东两省,26个省份铁路客运量损失与客运量基数、SARS确诊人数具有显著的相关性,其中,SARS确诊人数的边际系数为11.4%。     

高校校园危机事件中的心理干预模式研究——以一名精神分裂大学生引发的校园危机事件为例

精神分裂症作为一种重度精神疾病，最近几年逐渐成为高校校园危机事件的重要因素之一。文章通过对一名患有精神分裂症学生的个案研究，讨论了校园危机事件的处理策略，以及如何对受到影响的同学进行及时有效的心理干预，从而为校园危机事件的处理和校园危机管理机制的建立提供参考。     

大学生心理危机引发的思考

做好大学生心理危机的干预工作,是高校辅导员的一项重要任务。本文介绍了心理危机的表现形式、产生的原因以及辅导员在心理危机干预中的角色认知,为我院进行学生心理危机干预提出了一些建议。     

金融危机背景下的返乡农民工情况调查与分析——以南通市为例

文章对南通市的如皋县、海安县的89住返乡农民工进行了走访调查，系统地分析了返乡农民工返乡的理性因素、现实因素及自身因素等方面的原因。针对返乡农民工面临的土地流转、新生代农民工不适应农村生活、再就业和创业难度较大等方面的问题，提出了几点建议。     

发展船舶融资租赁 引领航运事业振兴

文中对船舶融资租赁进行了概述,分析了我国船舶融资租赁业发展中存在的问题,探讨了金融危机下发展船舶融资租赁的必要性,并据此提出了对策和建议。     

关于中小企业金融危机中突“危”问题的思考

受金融危机冲击,至2008年6月底,我国规模以上的中小工业企业停产、半停产6．7万家,下岗工人约2000万人。到了下半年,情况趋于严重。就金融危机对中小企业的冲击、契机及如何突“危”问题进行了一些思考,期望从中为深受冲击的部份中小企业带来一点启示。     

金融危机下对航运企业安全管理的思考

金融危机席卷全球,航运业首当其冲。文中通过对台州辖区航运企业安全管理现状的走访调查,分析了这些企业目前在安全管理上存在的问题,提出了具有建设性的建议和对策,     

金融危机下珠三角港口汽车物流策略探讨

珠三角南沙和新沙汽车滚装码头都处于珠江口,运量明显满足不了能力需求.目前又受到金融危机影响,物流量明显不足,规模效益难以显现.通过对国内外一些港口汽车物流有益经验分析和借鉴,探讨一些港口发展应对策略.