浅谈新《合同法》中会计核算的禁止性规定

本就修订后的新《会计法》单设的第三章《公司、企业会计的特别规定》中，对公司、企业会计核算中有代表性的造假帐行为所作出的禁止性的规定加以论述。     

Wirkungen einer EU–weiten Verlustverrechnung auf das Steueraufkommen

Seit einigen Jahren stellt der Europäische Gerichtshof vermehrt Regelungen der nationalen Steuersysteme in Hinblick darauf in Frage, ob sie mit dem EG-Recht konform gehen. Im aktuellen Fall Marks & Spencer entscheidet der Gerichtshof, ob Konzerne Verluste ausländischer Töchter mit inländischen Gewinnen verrechnen dürfen. Welche Wirkung hätte eine EU-weite Verlustverrechnung auf das deutsche Steueraufkommen?Prof. Dr. Clemens Fuest, 36, ist Direktor des Finanzwissenschaftlichen Forschungsinstituts an der Universität zu Köln und Mitglied des Wissenschaftlichen Beirats beim Bundesministerium der Finanzen; Thomas Hemmelgarn, 30, Dipl.-Volkswirt, ist Mitarbeiter an demselben Institut; Fred Ramb, 39, Dipl.-Volkswirt, ist Mitarbeiter der Deutschen Bundesbank, Economic Research Centre, in Frankfurt. Dieser Artikel repräsentiert die persönliche Auffassung der Autoren und entspricht nicht notwendigerweise der Position der Deutschen Bundesbank oder ihrer Mitarbeiter.     

Demand for broad money and expenditure components in Japan: an empirical study

The main objective of the present study is to examine empirically the long-run relation of broad money demand and its determinants in Japan. In contrast with previous study, the present study considers various components of final expenditure demand as determinants that are final consumption goods, expenditure on investment goods and exports. Using quarterly data over the period 1973Q1–2000Q2, the results of the bounds test [J. Appl. Econ. 16 (2001) 289] indicate a stable long-run relationship between demand of real M2 and its determinants. The empirical results also highlight that different domestic demand components yields different effects on Japanese broad money demand behavior. The estimated unrestricted error-correction model appears to track the data well and the results have important policy implications.     

滨海新区:环渤海区域经济发展的增长极

一、环渤海地区经济发展的现状与趋势 环渤海地区包括辽宁、河北、北京、天津、山东五省市,面积52.9万平方公里,占全国5.4%,人口2.27亿人,占全国17.5%,处于日渐活跃的东北亚经济圈的中心地带;自然条件优越,资源丰富,工业密集,产业现代化层次较高,工业基础雄厚,人力资源丰富,高新技术优势明显,具有较强的竞争能力和巨大的发展潜力.     

Strategic groups as reference groups: Theory,modeling and empirical examination of industry and competitive strategy

Previous studies on strategic groups have mainly focused on their static characteristics in order to test the theory of strategic groups and intraindustry performance differences (Porter, 1979; Cool and Schendel, 1988; Fiegenbaum and Thomas, 1990). In contrast, this study takes a longitudinal, dynamic perspective and describes the forces driving strategic group membership and structural evolution. It proposes that a strategic group acts as a reference point for group members in formulating competitive strategy. A partial adjustment model of strategic mobility is then developed which incorporates the idea of a strategic group as a reference group. It models strategic change in an industry both within and across strategic groups. The model is tested in the context of an in-depth industry analysis of the more significant firms in the insurance industry over the 1970-84 time period. The results suggest that strategic groups act as reference points for firm strategies and that predictions of future firm strategies and industry/group structures may also be successfully derived.     

融资优序与行业管制——兼析中国上市公司“异常融资优序”现象

企业融资先通过内部资金进行,然后再通过银行借款或发行低风险的债券,最后才采用股票,这种融资的“先后顺序”是企业出于降低融资成本和防止剩余利润被分享所做出的理性选择,这就是融资优序理论。本文认为,寡头竞争所形成的行业进入壁垒为优序融资的实现提供了必须的市场环境,其资金使用方式能够优化资源配置,提高资金的使用效率。融资优序理论在发达市场经济国家得到了实践的验证,但在我国上市公司中却存在“异常融资优序”(Abnormal pccking Order)现象,即外部资金优于内部资金,外部资金中股权融资优于债权融资。其原因在于,中国市场经济不太完善,缺乏通过寡头竞争自发形成的行业进入壁垒。本文认为只有采取行业管制手段,设置一定的行业进入壁垒,才能实现优序融资,从而达到优化资源配置的目的。     

Entrepreneurs and the Process of Obtaining Resources

This paper examines the process of how entrepreneurs assemble resources. In the model, the entrepreneur's challenge is to convince two complementary resource providers to commit their resources to a new venture. Before committing their resources, one of them needs to perform a costly evaluation. The entrepreneur has a problem with getting sufficient attention, because each provider has an incentive to wait and free-ride on the other's evaluation. For some parameters the entrepreneur solicits both partners with equal intensity ("knocking on every door"); for others, the entrepreneur always solicits the same partner ("pestering"). For many but not all parameter ranges, the process of assembling resources takes too much time relative to what is socially efficient. The model thus explores what factors facilitate or hinder the creation of new firms.     

开放经济下中国新凯恩斯混合菲利普斯曲线

本文采用广义矩方法估计开放经济下中国新凯恩斯混合菲利普斯曲线，结合中国现实选择工具变量。结果表明，使用混合成本作为通货膨胀的驱动因素在统计和经济意义上具有显著性，影响我国通货膨胀主要是资本成本与进口中间品成本；厂商定价行为既有前瞻性又有后顾性，但前瞻性处于主导地位，且价格具有较强的灵活性。