abstract: 本文选取当前在学界和业界关注度较高的“新三板”企业作为研究对象，从融资效率和融资偏好角度实证了新三板企业当前的运行状况，补充了资本结构和融资效率的研究文献。利用二元选择回归以及分位数回归方法，探究了内部融资、债务融资以及权益融资偏好的影响因素。本文发现：1）对于内部融资，企业资产负债率越低、经营能力越强、盈利能力越好、抵押品越少以及公司成长性高的企业更倾向于使用内部融资，资产负债率对内部融资的负面影响边际增大；2）对于债务融资，资产负债率越低、盈利能力越好、经营能力越强、抵押品越多、公司成长性高的企业更倾向于使用债务融资；3）对于权益融资，盈利能力较差、经营能力较弱的企业更倾向于使用权益融资，而资本结构以及公司成长性对权益融资没有影响。分位数回归也发现，盈利能力、现金状况、总资产周转率、资产流动性、非债务税盾、民营企业以及公司成长性等变量对权益融资的影响较为稳定，提示公司的特征变量对权益融资并没有明显的主导作用。在融资效率上，本文也发现：1）于2012年挂牌新三板的企业整体融资效率不高，DEA融资效率为有效的企业占比仅为10%左右；但融资效率在逐年持续改善，表现出一个较好的发展势头。并且，对于做市转让的企业来说，2014年由协议转让改为做市转让以后，融资相对有效的企业数量增长明显快于协议转让企业，表明采用做市转让的企业融资效率优于采用协议转让的企业。2）市场整体融资规模并未达到挂牌企业的需求，导致一半以上企业尚未达到最优的生产经营状态，仍需要资金来增加生产资料的投入，以扩大生产规模获取规模收益。对于做市转让的企业来说，在2014年由协议转让改为做市转让以后，规模报酬递增的企业数量占比下降更快，表明做市转让制度要比协议转让制度从融资效率角度更能满足新三板企业的融资需求。 / Dissertation/Thesis / Doctoral Dissertation Business Administration 2019

abstract: 理性决策理论基于“完全理性”假定，追求帕累托最优即个体的利益最大化。但是实际决策过程中，人的行为具备“有意识的理性，但这种理性又是有限的”，投资者也是并不是完全理性、同质的。海外投资也是如此，其背景特征诸如地域、性格、年龄、财富等特征都会对海外投资决策产生重大的影响，其程度大小势必也会因投资者背景特征的差异有所不同。考虑到投资者风险偏好与海外投资活动的关系鲜有文献涉及，笔者愿意做“第一个吃螃蟹的人”，选取该视角展开论述。 本文首先对前人的研究进行总结，概述了风险偏好的理论和偏好水平的度量办法，并总结了风险偏好对海外投资影响的理论基础，即决策理论和有限理性与行为经济学理论，为本文的研究奠定了坚实的理论基础。 其次，开展了问卷调查，对小城市城镇人群、二三线大城市人群、一线大城市人群、海外华人群体等不同地域的25-60岁之间的人群作为调查对象，回收了有效问卷3748份，并就问卷结果进行了描述性分析。发现跨地域人群有着不同的投资需求，小城市城镇人群整体来说对于海外投资需求较低；二三线大城市人群对海外投资不抗拒且具备一定研究和分析能力；一线大城市人群26%已考虑移民或大量海外投资，对海外投资产品有很强的分析能力；海外华人群体38%已考虑移民或大量海外投资，对于各类海外投资产品的接触机会很多。 再次，本文对风险偏好水平进行综合评价和度量。在此基础上，设定了研究变量和研究模型，采用回归分析的方法，对跨地域人群风险偏好、跨地域人群风险偏好对海外投资影响两块进行了实证分析，并验证了相关假设。本文认为，跨地域人群具有较为明显的风险偏好，其中一线城市人群风险偏好最高，高于海外华人群体，高于二三线大城市人群和小城市城镇人群。基于教育水平、财富程度和信息获取的风险偏好对海外投资影响的实证分析结果显示，风险偏好越高的区域，海外投资总额越多。充分验证了跨地域人群不同的风险偏好，以及风险偏好对海外投资的显著正向影响关系。最后，本文针对实证结果提出了相应的对策建议。 / Dissertation/Thesis / Doctoral Dissertation Business Administration 2019

This study aimed to increase vegetable consumption and preference in elementary school-aged children using two interventions: 1) flavor-flavor conditioning; and 2) sensory-based, vegetable-themed education. In both interventions, increase in consumption was measured by visual observation of how many vegetables children took and consumed from a vegetable buffet. Preferences were measured with a self-administered survey. In the flavor-flavor intervention, children ages 5 to 11 (n=59) were exposed to sweetened and nonsweetened vegetable purees. Preferences were assessed prior to intervention using a rating and ranking system. Nine paired tastings were presented. Children received a posttest immediately after the final conditioning (n=27) and again 2 to 3 weeks after the final conditioning (n=24). A repeated measures ANOVA was used to examine the effect of conditioning (sweetened vegetable purees) on flavor preference. The change in attitudes and behaviors related to vegetables was evaluated using independent samples t-tests. Pre- and post-flavor conditioning change in whole vegetable consumption was assessed using paired t-tests. Flavor-flavor conditioning is not an effective strategy to increase whole vegetable consumption or preference for vegetables in elementary school-aged children. The vegetable-themed curriculum focused on four vegetables (carrots, peas, cauliflower, broccoli) and included three 30-minute lessons on each vegetable. Lessons included information on how the vegetable tastes, where it grows, and what it looks, feels, sounds, and smells like. Lessons were taught once per week for 3 weeks each month over four months. Children ages 5-11 enrolled in an after-school program at one elementary school were invited to participate (n=27). The amount of vegetables consumed by participants during a vegetable buffet was observed pre- and post-intervention (n = 20, 12 respectively). Differences in these amounts were assessed using independent samples t-tests. The education intervention was associated with increased consumption of carrots (p-value =0.001) and peas (p-value=0.003) but not cauliflower or broccoli. There was no change in vegetable-related attitudes/behaviors post-intervention. The results support the use of sensory-based, vegetable-themed education to increase vegetable consumption among children. Future studies should involve a larger sample size and should consider in-school rather than after-school education.

Two-thirds of United States stream length is in either fair or poor biological condition. However, we do not yet have reliable, quantitative tools to diagnose site-specific causes of biological impairment. One way to diagnose causes of impairment is to compare the environmental tolerances or preferences of the taxa expected at a site to those of the observed community. Stream ecologists have derived tolerance values (TVs) from field data for use in causal analysis, but inconsistencies across studies cast doubt on the accuracy of these TVs. Published TVs may not agree with one another for several reasons, including: differences in the methods used to estimate TVs, confounding among environmental variables, effects of environmental interactions on taxon abundance, and bias from incomplete sampling of a taxon’s niche space. My objectives were to determine if and how these four potential problems affect TVs and to determine if TVs can be used reliably in causal assessments. I collected macroinvertebrate, substrate, temperature, conductivity, and velocity data from 45 streams in the western U.S. Analyses of data from this field study suggest that incomplete sampling can profoundly influence TVs, whereas interactions may have little effect. Significant spatial correlations between environmental variables suggest that confounding may also affect the derivation of TVs, but the magnitude of this effect is unclear. Also, though each method used to estimate TVs has limitations, TVs derived from different methods appear to reveal the same environmental signal, and there may be little reason to prefer one method over another in a causal analysis. Over last few decades, researchers have begun to add biological traits, including estimates of preference and tolerance, to the suite of metrics used in bioassessments. As descriptors of important biological traits, TVs should help water quality managers reliably diagnose and combat the causes of biological stream impairment.

This study was designed to investigate the relationship of general aptitude, vocational attitudes, and occupational values to scoring above or below the 75th percentile on the Kuder Preference Record by ninth grade students in rural southwestern Utah and southeastern Idaho. The sample consisted of a group of 248 students who participated in Project Mace. The students were divided into two groups according to their Kuder percentile scores. The G scale of the General Aptitude Test Battery, the Vocational Development Inventory, and the Occupational Values Inventory were also administered to the subjects. The data were analyzed by a simple correlation matrix and analysis of variance. The results of the study indicated there was no significant difference between the two groups on any of the instruments. The implications from the results indicated that: The 75th percentile probably should not be used as a criterion for strong interests, at least when an attempt is being made to relate interests to the general aptitude, attitudes, and values measured in this study. More research is needed in order to fully understand the relationship of interests, aptitudes, attitudes and values. More research is needed on the instruments used in this study, especially the Occupational Values Inventory and the Vocational Development Inventory.

We recently showed a critical role of Trpm5 in the transduction pathway for long chain polyunsaturated fatty acids. In the present study, I have begun to investigate dietary fat preference and the propensity to develop dietary-induced obesity in Trpm5-/- mice. My preliminary data shows that in male mice placed on a high fat diet, Trpm5-/- mice did not enhance their caloric intake as observed in wild type mice. Most surprisingly, however, was that I did not observe the same differences in between female mice, which posits a potential gender effect of this pathway on dietary fat intake. Also, I show that the preference for dietary fat is not disrupted in Trpm5-/- mice since there is no difference in dietary fat preference between Trpm5-/- and wild type mice. Wild type and Trpm5-/- mice both have a strong preference for the high fat diet, as demonstrated by the fact that they solely consumed the high fat diet. Consistent with our original hypothesis that these responses are specific for high fat feeding, I did not observe any differences in caloric intake in male mice on a high sucrose diet. Again, gender differences were observed, with Trpm5-/- female mice displaying a higher caloric intake than wild type female mice. Furthermore, I used a paired-feeding approach via oral gavage to delve further into whether the effect of Trpm5 disruption was due to pre- or post-ingestive effects. The results from this experiment show that all animals have a reduction in body weight and body fat with no significant difference between wild type and Trpm5-/- mice. This result suggests that the expression of Trpm5 in the oral cavity is necessary for the changes in body weight and composition observed during ad libitum feeding. Also, the fact that Trpm5-/- mice lost body weight and fat mass is contrary to our previous observations. When these animals consume the roughly same number of calories on a high fat diet ad libitum, we observe an increase in body weight and fat mass. This suggests that there might be another mechanism accountable for the response observed in Trpm5-/- mice when fed ad libitum. In conclusion, the results from these experiments suggest a link between dietary fat consumption and development of adiposity.

Rotter's (1954, 1960, 1964) social learning theory suggests that a reinforcement acts to strengthen an expectancy. These expectancies may differ from situation to situation; however, it is postulated (Rotter, 1960) that they bear a direct relationship to the potential occurrence of a behavior. Furthermore, "...it is presumed that the relationship between goal preference (reinforcement value) and behavior can be determined only by introducing the concept of the individual's expectancy, on the basis of past history, that the given behavior will actually lead to a satisfying outcome rather than to punishment, failure, or, more generally, to negative reinforcement." (Rotter, 1960, p. 305) An outgrowth of this idea is the current research regarding internal versus external control of reinforcement. Basically, this centers on two general hypotheses. 1. That if a reinforcement is seen to be controlled by the individual, it will strengthen the expectancy and that if it fails to occur from this behavior, it will weaken the expectancy. 2. That if the reinforcement is seen to be under the control of external factors, i. e. luck, fate, or powerful others, the expectancy will neither increase as much by the reinforcement occurring, nor decrease as much by its nonoccurrence Recent research suggests that internal versus external control (1-E) of reinforcement is a personality variant, as well as an important variant in learning and extinction. This, combined with recent refinement of 1-E measurement tools, would seem to bring this postulate into the realm of educational concern. The purpose of this report is a review of the I-E literature in an attempt to determine what, if any, implications research of I-E has for education. Rotter defines internal control and external control in the following manner. "When a reinforcement is perceived by the subject as following some action of his own but not being contingent upon his action, then, in our culture, it is typically perceived as the result of luck, chance, fate, as under the control of powerful others, or as unpredictable because of the great complexity of the forces surrounding him. When the event is interpreted in this way by an individual, we have labeled this a belief in external control. If the person perceives that the event is contigent upon his own behavior or his own relatively perm anent characteristics, we have termed this a belief in internal control." (Rotter, 1966, p. 1) Crowne and Liverant (1963), Battle and Rotter (1963), Gore and Rotter (1963), Phares (1965), Lefcourt and Ladwig (1965), and Strickland (1965) are all in agreement with this definition and this report will approach internal versus external (I-E) control as Rotter (1966) has defined it. Often in discussions in the research, the phrase skill-chance is used in place of internal control and external control. Any usage of these words in this report will follow the Rotter (1966) definition of internal and external control (I-E).

This research examines the possible correlations between a computing student's learning preference and their academic success, as well as their overall satisfaction with their major. CS and IT seniors at BYU were surveyed about their learning preferences and satisfaction with their major. The research found that IT students who are more reflective in their learning preference tend to have higher grades in their major. Additionally, it found that student age and their parents' education level were significant players in their academic success. However, there were no correlations found between major satisfaction and academic performance.

The research question addressed in this study is "what outerwear fabric types are preferred by consumer segments in each of the major climatic zones in Australia?" objectives are to:1. examine consumer preference for fabric in each of the five major climatic zones in Australia, using fabric attribute levels as the choice criteria, in order to provide information to Stormboy on fabric attributes most preferred by consumers, and the market segments in each zone, based on these fabric attribute preferences; and2. determine any significant differences in fabric preference between the climatic zones so as to indicate to Stormboy whether climate should be taken into consideration in the marketing of wool based fabric.This information on preference for fabric type, will enable Stormboy design wool based fabrics that match the fabric attribute requirement of consumers. The information on market segments will not only provide the fabric attribute requirements but also the possible size of the market.This study will develop a method to monitor consumer trends in fabric preference so that Stormboy can make informed decisions about their design and choice of wool based fabric.This study provides the required consumer information to Stormboy. It illustrates a method of research which can be used in decisions making by producers of products or services where there is heterogeneity in buyers' preferences, for:the development of new products or services;the renewal of a product or service;the positioning of a product or service; andthe ongoing monitoring of consumer preferences and retail compatibility with consumer preferences.As Green and Kreiger (1985) conclude, once preference and segments have been identified companies can react to (or possibly produce to) preference heterogeneity by modifications of their current product/service attributes (including price), distribution, and ++ / advertising/promotion. Companies are motivated to do so if the net payoff from modifying their offerings exceeds what the payoff would be without such modification. Companies may modify its product/marketing mix to include product line addition/deletion decisions as well as the repositioning of current offerings.The study begins by reviewing relevant literature on the function of clothing and fabric type, the position of wool in the apparel market, the effect of climate on choice, the key concepts of consumer behaviour and segmentation as a means of positioning products. The design of the research is summarised in Chapter 3, and the findings from a survey of consumers in five Australian centres are presented in Chapter 4. Chapter 5 discusses the implications of these findings and recommendations made to StormBoy. Conclusions relating to the study design, limitations and future research are addressed in Chapter 6.

A self-control procedure that involved a later onset of a stimulus signalling a small reinforcer within the waiting time for a larger reinforcer was investigated to determine a point of shifting preference and a discounting function as the delay varied. The results from Experiment 1 to Experiment 3 showed exclusive impulsive choices regardless of the delay. In order to examine if the results were due to the procedure and the parameters, or the species used, Experiment 4 attempted to obtain shifts in preference using simultaneous onset of stimuli with the same species. The results demonstrated no changes in preference but an increase in proportion of self-control choices was shown. Due to the limited information from the replicated studies, the accounts for the results could not be concluded. The explanations derived from choice models seemed most plausible, but limitations of the choice models were discussed.