对会计计量属性中历史成本的探讨

历史成本经过几次冲击,目前仍然是财务会计的根本计量属性,并且由于它具有的其他会计计量属性所没有的现实优点,导致其必将长期成为财务会计主导的计量属性。同时由于历史成本无法对大部分衍生金融工具进行计量,而公允价值却能做到这一点,文章建议把历史成本作为表内确认的计量属性,而把公允价值作为表外披露的计量属性,两者可以相得益彰。     

关于“三农”问题的战略性思考

必须从战略的高度来审视“三农”问题,“三农”问题不仅仅是经济问题,更重要的是社会问题和政治问题。“三农”问题是由诸多原因造成的,其中既有历史原因又有现实原因,既有经济和技术原因又有制度原因。“三农”问题是一个系统的综合性的问题,必须用系统工程方法来解决,其中最关键的问题是要创造一个良好的制度、法制和文化环境。“三农”问题的核心是农业问题,必须以实现农业现代化为突破口来带动农民和农村问题的解决。“三农”问题解决与否的主要标志是是否实现农村现代化,必须采取综合性的措施来加速农村现代化的实现。     

Have SFAS 166 and SFAS 167 improved the financial reporting for securitizations?

Critics have alleged that securitization accounting prior to 2010 was among the causes of the recent financial crisis. In response to this criticism, the Financial Accounting Standards Board (FASB) implemented two new accounting standards, SFAS 166 and SFAS 167, to improve the financial reporting for securitizations. Bank regulators have stated their belief that SFAS 166/167 will result in a consolidated balance sheet (and risk-based capital ratios based thereupon) that better reflects a bank's exposure to risk related to securitized assets. We document that, by ceding retained power or influence through the servicing/special servicing functions to third parties, SFAS 166/167 resulted in real effects to the extent that banks (particularly those that were weakly capitalized) achieved their accounting objectives in the post-SFAS 166/167 period through legitimate transaction structuring in line with the intent of the new rules. Further, we use capital market participants’ assessments of risk retention by sponsoring banks as a benchmark, and provide evidence consistent with bank regulators’ beliefs. In particular, following SFAS 166/167, equity investors of sponsoring banks do not consider (consider) as risk relevant securitized assets that receive off-balance sheet (on-balance sheet) treatment. Securitized assets that are consolidated under SFAS 166/167 exhibit the same risk relevance as assets that are not securitized, despite contractual provisions that would seem to imply substantial risk transfer.     

Blockholder Exit Threats and Financial Reporting Quality

Recent theoretical and empirical studies suggest that blockholders (shareholders with ownership ≥ 5 percent) exert governance through the threat of exit. Blockholders have strong incentives to gather private information and sell their shares when managers are perceived to underperform. To prevent blockholders from selling their shares and the firm from suffering a stock price decline, managers align their actions with the interests of shareholders. As a result of the greater manager‐shareholder alignment, managers' actions are more likely to be in shareholders' best interest, and consequently there is less need for managers to manipulate earnings. Consistent with these predictions from economic theory, we find evidence that as exit threat increases, firms have higher financial reporting quality. Theory also predicts that the impact of blockholders' exit threat on financial reporting quality (FRQ) should increase as the manager's wealth is tied more closely to the stock price, and this is what we find. Our study contributes to the research on the impact of shareholders on FRQ and to an emerging literature on the impact of blockholders in financial markets. Blockholders play an important role in managers' reporting outcomes through their actions as informed investors.     

科技政策组合的技术创新协同效应研究 ——供给侧—需求侧视角

利用2013-2016年中关村园区企业数据,将创新划分为创新倾向、技术绩效和经济绩效,以政策供给侧的政府补贴、税收优惠及需求侧的政府采购为研究对象,基于倾向得分匹配方法分析供需两侧科技政策组合的技术创新协同效应。结果表明：政策支持对技术创新存在激励效应,供给侧政策对创新倾向的激励效应最强,而需求侧政策对创新绩效的激励效应更显著;不同的科技政策组合形式均对技术创新具有激励作用,并且科技政策组合对技术创新存在协同效应。     

金融危机下国际资本流动对中国金融的影响

介绍了金融危机及国际资本流动的新特点,分析了其影响中国金融安全的传导机制。提出国际资本流动危害金融安全的表现并给出相关建议。     

铁路网布局在经济社会空间结构变迁中的作用研究

根据交通运输影响经济社会空间结构的基本理论,分析铁路网布局的三大要素以及在经济社会空间结构变迁中的作用机制,通过特征性事实的对比进行实证说明。     

浅谈语境设置在英美概况课中的应用

本文通过了解语境这一概念以及语境设置的意义来分析语境的设置在大学英美概况课程中的应用,说明了语境的设置对英美概况教学中学生能力的培养具有非常重要的作用。     

自贸区背景下港口物流竞争力评价模型构建

我国正处于深化改革的关键时期,自由贸易试验区的不断发展对港口物流提出了新的要求。构建适用于评价港口物流竞争力的理论模型,对于准确评价港口物流竞争力尧夯实港口物流的持续发展具有重要意义。基于港口物流的定义,建立1 个目标层指标,4 个准则层指标和17 个指标层指标在内的港口物流竞争力评价指标体系。以期为自贸区背景下港口物流竞争力的实证研究提供理论依据。     

家族涉入对企业多元化及其价值效应的影响研究

多元化是战略管理领域中的一个核心议题。文章基于社会情感财富框架和企业行为理论,着重考察了家族涉入对企业多元化战略及其价值效应的影响。基于2010年363家中国民营上市制造业企业样本数据的研究发现：家族所有权对企业总体多元化和非相关多元化均具有显著的负向影响。在多元化的企业价值效应方面,家族管理权会显著减弱总体多元化和非相关多元化对企业绩效的负向影响。这样的研究结果证明了假设猜想：家族通过所有权参与更多影响的是企业的多元化决策,而家族参与管理则会更多地影响多元化战略的执行。这一研究有助于深入揭示家族涉入对企业行为的内在影响机制,有效区分不同维度家族涉入对企业战略决策及执行过程影响机制的差异。