实体经济增长强劲金融运行反常骤热——2006年第一季度经济与金融形势分析

实体经济运行状况(一)经济增长4月20日,国家统计局公布了今年第一季度的国民经济运行情况。经初步核算,一季度,国民生产总值为43313亿元,同比增长10.2%,高于去年同期9.9%的水平。从三大产业增加值增长状况看,第一产业增加值3200亿元,增长4.6%;第二产业增加值21615亿元,增长12.5%;第三产业增加值18498亿元,增长8.7%。三次产业增加值占GDP比重分别为7.39%、49.9%和42.7%。从社会总需求结构来看,今年一季度,投资和净出口都保持了较快的增速,对经济的快速增长起到了明显的拉动作用,与此同时,国内消费需求变动则相对平稳,增速与往年基本持平。(…     

中国能源利用效率省际分异与影响因素的实证研究

根据中国能源利用效率的省际差异显著而且当前节能任务艰巨的事实,提出了进行能源效率地区差异因素分析的必要性。基于2007年的截面数据,运用偏最小二乘回归建模,分析了各因素对能源效率地区差异的影响方向和影响程度。研究结果表明,各地区固定资产投资中外商投资比重、工业增加值中高耗能产业比重以及煤炭消费比重的差异是造成能源效率地区差异显著的主要原因。要在短期内缩小地区间的能源效率差距,必须严格限制高耗能行业的过快发展,加强高耗能行业的结构调整,加快淘汰落后生产能力,大力提升煤炭的使用效率。     

我国通货膨胀的结构性原因——基于贸易部门和非贸易部门的研究

本文基于巴拉萨-萨缪尔森理论,探讨经济结构性因素对中长期通货膨胀形成的影响。我们在贸易品和非贸易品(TNT)模型的基础上建立部门劳动生产率增长差异、汇率变动与通货膨胀关系的理论框架,分析在贸易品国际市场定价条件下三者之间的关系;基于我国30多年来部门劳动生产率增长差异的特征事实,实证分析了部门劳动生产率增长差异、汇率变动对通货膨胀的影响。     

内蒙古二元经济结构分析

二元经济结构体现了农业和工业两部门经济的差异程度,而这种差异指标则是两部门的产值比重和劳动力相对比重。本文采用比较劳动生产率指标、二元对比系数指标和二元反差指数对内蒙古自治区1980年以来的二元经济结构进行测度,并结合内蒙古自治区实际情况,分析内蒙古自治区二元经济结构的成因,为制定统筹城乡发展提供参考建议。     

江苏省FDI对产业结构升级的影响和对策研究

本文从产业特征的视角出发,分析当前外商直接投资对江苏省不同产业发展的影响。认为FDI与江苏省经济增长之间存在某种联系,但在不同产业中作用的方向和影响大小存在差异。从FDI的比重变化情况看,第二产业和第三产业的发展显示出对称但明显相反的趋势。通过对江苏FDI实证分析得出,FDI对第三产业的影响最为显著。     

汇率变动对劳动生产率影响的研究——基于2005年中国汇率制度改革的证据北大核心CSSCISSCI

汇率作为开放宏观经济中的重要价格,对贸易依存度较高的中国经济有着深远影响。在经济发展模式转型的背景下,本文基于2005年人民币汇率制度改革来分析和研究汇率变动对劳动生产率的影响,并采取倾向性得分匹配和双重差分的方法来识别汇率变动与劳动生产率间的因果关系,尝试从微观层面揭示汇率在中国经济转型和增长驱动模式转变中扮演的重要角色。本文的研究结果表明,人民币实际升值使得劳动生产率有所提升,能够解释2005年至2007年6.5%的劳动生产率的变化。研究还进一步识别了汇率变动影响劳动生产率的机制,人民币实际升值加剧了竞争程度,竞争的加剧能够通过逃离竞争效应促进劳动生产率的提升。     

“刘易斯拐点”与福建工业发展研究

"刘易斯拐点"的迫近,对劳动力短缺、劳动力密集型产业比重高的福建工业影响显著,突出表现为福建工业企业工资水平上涨加快和劳动生产率相对全国差距越来越大。为摆脱"刘易斯拐点"对工业发展的束缚,建议释放二次人口红利,创造福建产业升级缓冲期;创新制度安排,调整工业结构、优化产业组织;加大金融支持力度,助力产业升级。     

中国企业四道坎

产业升级,变配角为主角的局面,是中国企业必须积极应对的重要国际挑战。结构优化坎据统计,2003年我国第一、二、三产业增加值占GDP的比重分别为14.6%、52.3%和33.1%,其中工业增加值占GDP的比重为45.3%。按照世界银行的数据,目前全球第一、二、三产业的平均构成约为4∶32∶64,相     

信贷支持、政府支出与产业转型的关联机制研究

信贷配置是否能够有效地促进产业结构转型是理解中国经济增长模式的重要维度。本文通过梳理银行信贷和政府支出影响产业转型的主要渠道,采用分位数回归的估计方法,应用中国1952～2007年的数据构建相关指标,实证分析信贷因素、政府支出变量影响各产业工业产出及促进产业转型的关联机制和实际效果。结论表明,总量信贷是造成产出波动的关键因素,而信贷流向不同产业的结构仍存在不合理之处;信贷支持是产业转型的重要因素,但是政府的影响也是必要而显著的。     

税制结构变迁对企业投资行为的影响研究——基于税负转嫁视角

在经济转型发展的背景下，企业“稳投资”对于确保经济平稳健康发展具有重要意义。笔者以2008—2016年沪深A股非金融类上市公司为研究样本，基于税负转嫁视角研究了税制结构变迁对企业固定资产投资行为的影响及其作用机制。研究发现：提升间接税比重对企业固定资产投资没有显著影响，而提升直接税比重则显著促进了企业固定资产投资。进一步的异质性分析结果表明，提升直接税比重对企业固定资产投资的影响效应主要来自大型企业、国有企业和融资约束程度低的企业。作用机制分析结果表明，直接税比重的提升在降低企业现金流水平的同时通过增加企业债务融资来促进企业固定资产投资水平的增长。本文研究为近年来固定资产投资增速快速下滑的现象提供了微观解释，为制定有助于企业实现“稳投资”目标的政策提供了参考。     

Short-sale refinancing and price adjustment speed to bad news: Evidence from a quasi-natural experiment in China

Short selling may accelerate stock price adjustment to negative news. However, the literature provides mixed evidence for this prediction. Using short-sale refinancing and a staggered difference-in-differences (DID) model, this paper explores the effect of short selling on stock price adjustment. Our results show that (1) short-sale refinancing improves the speed of stock price adjustment to negative news. This result holds after we control for endogeneity. (2) The positive relationship between short-sale refinancing and stock price adjustment speed is significant in subsamples of stocks with higher earnings management or lower accuracy of analyst forecasts, indicating that firms with more opaque information are more likely to be targeted by short sellers. In subsamples of stocks with a higher ownership concentration or lower ownership by institutional investors, short selling is more likely to increase the speed of stock price adjustment, indicating that ownership structure may influence negative news mining. (3) As short-sale refinancing exacerbates the absorption of bad news by stock prices, it increases crash risk. This study enriches the research on the economic consequences of short selling and provides empirical evidence supporting regulations on short selling in China.     

Cost accounting standard and cost accounting systems in Japan. Lessons from the past - recovering lost traditions

This paper aims to show two things. The first is how Japanese culture has contributed to the development of Japanese cost accounting history. The second is to reveal the research possibilities of cost accounting history. This paper also reviews the salient features of several important examples of these aspects of cost accounting practice in Japan. It therefore explores, through some practical illustrations, how and why Japanese cost accounting differs from that found in the West.     

Guidelines for Manuscripts Submitted to The China Journal of Accounting Research

【正】The China Journal of Accounting Research‘‘CJAR’’(ISSN 1755-3091)publishes quarterly.It contains peer-reviewed articles and commentaries on accounting,auditin...     

Shared Standard Setting in the Public Interest:A Strong Model

正The last two decades have been a definitive era in the evolution of the accountancy profession.In the wake of major corporate scandals at the turn of the century,an international public debate arose on the need for more effective and well-considered regulation;this debate then reignited during the global financial and sovereign debt crises.     

HOW TO PUT TOGETHER A COMPLETE PACKAGE

正Many Institute members know they cannot rely purely on technical knowledge and business acumen to remain competitive.As soft skills are increasingly important,Jemelyn Yadao finds out how CPAs can maintain     

Guidelines for Manuscripts Submitted to The China Journal of Accounting Research

正The China Journal of Accounting Research"CJAR"(ISSN 1755-3091)publishes quarterly.It contains peer-reviewed articles and commentaries on accounting,auditing and corporate governance issues that relate to the greater China region.We welcome the submission of both theoretical and empirical research papers pertinent to researchers,regulators and practitioners.Authors should note:     

The China puzzle: Opportunities for accounting research

How can China achieve phenomenal economic growth despite what is considered as 'weak' institutions in market-based economies? Xu(2011) provides a framework to u...     

Aims and Scope

<正>The focus of the China Journal of Accounting Research is to publish theoretical and empirical research papers that use contemporary research methodologies to...     

Income smoothing and the cost of debt

The literature on income smoothing focuses on the effect of earnings smoothing on the equity market.This paper investigates the effect of income smoothing on th...     

The case for management history

This article defines the case for treating management history as a discrete subject area, although one closely related to business, accounting, labour, and industrial history. It seeks to concentrate on the nature, process, and practice of management as an activity within the organization, and to argue that it is important that modern British managers understand the intellectual and cultural roots of their profession, since without these they will tend to be swayed by short-term management 'fads'. Within the broad topic there are several identifiable sub-areas for potential exploration, including the comparative historical development of management between different countries, management institutions, managerial careers and labour markets, management structures, management skills, and management thought and theory.