论资产管理公司必须跨越的三大障碍

在我国国有企业债转股的改革中,资产管理公司扮演着一个十分重要的角色和承担着相当重要的任务。文章认为,目前资产管理公司无论从内部的机制构造,还是规模实力、经营能力等方面都无法有效地完成这一任务。文章建议对资产管理公司进行股份制改革,促使经营机制转变和规模扩大;同时注意人才的结构合理化,提高债转股过渡期的经营管理能力。     

欧盟未来植物技术平台的建设与进展

本文分析了欧盟启动欧盟技术平台建设的背景及其自下而上运作的基本特点。欧盟迄今共建立了36个欧盟技术平台,涉及众多领域。每个欧盟技术平台都有自己的运作方式。本文详细介绍了欧盟未来植物技术平台的运作情况,研究并探讨了欧盟未来植物战略研究议程的基本内容和执行情况及对我国的借鉴作用。     

Was deindustrialization in the UK inevitable? Some comments on the Rowthorn-Wells analysis

This paper starts by summarizing Rowthorn-Wells'analysis of deindustrialization and its links with trade. It then proceeds to give some critical comments on their specialization, maturity and failure theses. The main conclusion of the paper is that though the book is very interesting in its endeavour to link deindustrialization to economic development, it does not fully succeed in explaining the UK economic situation in the last two or three decades. The main problems of the book are seen to be its failure to fully integrate ‘negative deindustrialization’ in the theory of development, its passive treatment of the manufacturing sector and its focus on trade and balance of payments rather than industry and its structure.     

现阶段中小企业成长战略的几个问题

中小企业必须树立正确的经营理念,发挥比较优势,向“专,特,新”方向发展,中小企业成长过程是量的成长和质的成长相结合的过程,企业做大不等于做强,中小企业应根据不同发展阶段的特点采取相应的经营策略,寻找适宜的成长途径。     

The effects of abandonment options on operating leverage and forward hedging

This paper examines the behavior of the competitive firm under output price uncertainty when the firm is endowed with an abandonment option and has access to a forward market for its output. When the realized output price is less than its marginal cost, the firm optimally exercises its abandonment option and ceases production. The firm lets its abandonment option extinguish, thereby producing up to its capacity, only when the realized output price exceeds its marginal cost. The ex post exercising of the abandonment option as such convexifies the firm's ex ante profit with respect to the random output price. We show that neither the separation theorem nor the full-hedging theorem holds in the presence of the abandonment option. The firm under-hedges its output price risk exposure in the forward market wherein the forward price contains a nonpositive risk premium. When the set of hedging instruments is expanded to include options, we show that both the separation and full-hedging theorems are restored. We further show that the firm prefers options to forwards for hedging purposes when both types of contracts are fairly priced.     

当前我国经济运行的周期性波动特征

目前我国经济运行正处于存货投资短周期波动的扩张期、固定资产投资增长短周期和中周期波动的扩张期、产业结构升级中周期波动的衰退期和中长周期波动的复苏期。与这一系列经济活动的周期性变化特征相对应 ,我国GDP增长正处于短周期波动的扩张期、中周期波动的复苏期和中长周期波动的谷底。我国经济已进入了新一轮的快速增长期 ,而且短期内不会出现大幅度波动现象 ,政府仍应采取中性宏观经济政策。     

论虚拟团队的关键活动与其演进的主要阶段

虚拟团队作为一种崭新的组织形式,越来越引起理论界和企业界的关注。文章在阐述虚拟团队涵义的基础上,依据生命周期模型,探讨了虚拟团队的五个关键活动及主要的演进阶段。     

新时期的投资策略

无论何时何地，投资都是推动经济增长和经济发展的重要力量，从战略角度而言，投资的基本功能不变，而从战术角度而言，投资应当与时俱进，有所变化，本从投资和消费、近期效应和中长期目标、基础设施和高新技术、投资规模和投资效益，政府行为和市场机制五个方面全方位，多视角地论述了新时期的投资策略。     

An analysis of prior delphi applications and some observations on its future applicability

Since the inception of the Delphi method, it has experienced increased application. Despite its spreading utilization, very little is known about its past applications and its actual value. This article reports on the results of an international research project concerning the Delphi method. The research project focused primarily upon an analysis of the purposes for which the Delphi method has been used and its degree of successfulness, the extent of its use in various substantive fields, the future of the Delphi method, its relationship with other methodologies and the types of organizations financing Delphi studies.     

科学原级结构及创建生产力科学大部类的研究

文章探讨了将“科学”按三元原级结构模式划分为生产力科学、自然科学和社会科学三大并行部类的时代意义,分析了采用三元原级结构模式的必要性、可行性及其同现有二元原级结构模式之间的可兼容性,论证了“科学”分类模式所应具备的与时代步伐俱进的动态自我完善功能,进而,应用“假说发展”的确证与证伪方法讨论了该模式的发展远景。     

Sabotaging cost containment

We show that sabotage may be particularly profitable for a vertically-integrated provider (VIP) when its downstream rival can devote effort to reducing its operating costs. Demand-reducing sabotage limits the return the rival anticipates from its cost management activities, and thereby inhibits those activities. The resulting higher costs for the rival increase the VIP’s profit in settings where sabotage would not be profitable if the rival could not manage its operating costs. To limit sabotage by the VIP, the rival may find it profitable to intentionally diminish its ability to reduce its production costs. The diminished ability can produce Pareto gains.     

Eco-reason-The Contemporary Direction of the Philosophical Inquiry

The vanishing or termination of philosophy arises from the fact that philosophers are losing their philosophical enthusiasm and becoming experts of philosophy and the fact that philosophical is losing its object fields and becoming rootless. The former fact comes from the philosophical research replacement of the philosophical exptoration, and the Latter results from the disturbing identification of its own object fields when it originally emerged The genuine object of philosophical exploration should be the being of human. While man＇s original being is towards its creative existing orientation, its path, course and sate constitute the whole object fields of philosophical exploration Thus, the naissance of philosophy stems from the growing （original and creative ） existing circumstance. In such circumstances, the existing opening of man＇s original being towards his creative existence actually creates and writes its ecologicat fieids with the universe mutually. The mutually growing and writing existing fietds constitute the genuine perspectives of the contemporary philosophy.     

Liquidity-adjusted conditional capital asset pricing model

This paper derives a liquidity-adjusted conditional two-moment capital asset pricing model (CAPM) and a liquidity-adjusted conditional three-moment CAPM respectively based on theory of stochastic discount factor. The liquidity-adjusted conditional two-moment CAPM shows that a security's conditional expected excess return consists of three parts: its conditional expected liquidity cost, the systemic risk premium and the liquidity risk premium. The liquidity-adjusted conditional three-moment CAPM shows that a security's conditional expected excess return depends on its conditional expected liquidity cost, the conditional covariance between its return and the market return, the conditional covariance between its liquidity cost and the market liquidity cost, and the conditional coskewness of its return and the market return.     

关于山西资源型经济综改试验区财税政策改革的思考

资源型经济转型需要发挥政府的主导作用,构建与综改区相适应的财税政策体系,强化资源的节约集约利用和生态环境保护,促进资源型地区的产业结构升级和可持续发展,对于山西省的转型跨越发展意义重大。在山西省财政收入总量和结构现状分析基础上,探析当前制约山西省资源型经济转型发展的各种矛盾和问题,针对性地提出了山西省财税政策改革的政策建议。     

Growth of China's foreign exchange reserve

China's growing foreign exchange reserve is estimated to exceed $2 trillion by 2010. The purpose of its paper is to examine its impact on the balance sheet of the Chinese central bank, the money supply and the bond market. The paper will then move on to discuss its social welfare effect by comparing the estimated future return of the foreign exchange reserves with its opportunity costs measured by the potential return of domestic investments.     

工业生态学理论与城市生态工业园区设计研究——以吉林省九台市为例

首先介绍了国外工业生态学的研究进展和主要理论，其次是结合国内外生态工业园区的实践，重点对吉林省九台市生态工业园区的设计进行介绍，主要包括生态工业园区设计的思路、生态工业园区的产业构造和生态工业园区的管理模式。     

上市公司主营业务贡献与经营绩效的实证分析

主营业务是公司稳定利润的主要来源，其左右着上市公司的核心盈利能力和市场竞争力。主营业务利润占公司总利润的比重的高低及其稳定性还将影响公司经营业绩的稳定性，从而也影响公司的后续发展。因此，上市公司必须扎根主业，壮大主业，不断提高主营业务利润的比重，才能增加公司的价值和竞争能力。     

小企业成长阶段的战略匹配与控制

战略管理的过程是一个动态的过程,它随着小企业外部环境和自身条件的变化而变化。小企业在成长的不同阶段,必然要通过战略的调整来指导企业的行为,选择不同的成长战略。同时,在小企业成长的不同阶段,要通过整合信念系统、边界系统、诊断控制系统和互动控制系统4种杠杆保持战略的有效性。     

论词的形式美对词传播的影响

历经几千年的沧桑,古典诗词依旧传播广远,远远超过新诗。探究其长盛不衰的原因,当然是多种多样的。一直以来,其所具有的一整套公共意象被认为是主要原因。但除开公共意象,古典诗词本身所具有的一整套严格的音韵格律形式也是致使其广为流传的重要原因之一,而且从某种意义上而言比公共意象的作用还要明显。以古典诗词中的词为例,试图单纯从形式的角度出发,并结合一些传播学的相关理论,分析词体形式对词体传播的影响。     

中国金融制度的改革回顾与创新思考

中国金融制度改革在制度供给绝对匮乏的条件下起步，中经七年的准备探索、十年的制度框架构建和四年的调整、充实、深化阶段。改革的主线是从计划金融传向市场金融的制度创新。十十年金融改革推动了金融发展，改变了制度运行环境，启动了制度的要求与供给互动机制；中国金融改革内涵是是从计划走向市场，从封闭走向开放，从数量扩张向效益提高，制度创新是带全局性的，改革必须能揽全局。发展是永恒主量，改革是历史性任务，开放是制度转型期改革和发展的必然要求；21世纪中国金融制度创新和金融发展，需要认真研究金融发展的新阶段及其特点，结合“十五”期间中国金融发展面临的理论和实践发展的挑战，直面WTO，完善金融组织体系、金融市场体系、金融监管体系和金融调控体系，提高金融效率，保卫金融安全。