Copy-protection policies and profitability

This paper examines the publisher's optimal copy-protection policies. Even if copying is more cost-efficient than producing an original, private copying harms the publisher for two reasons. First, the copy users’ contribution to the original's price is too small, and second, there is a time lag between providing the original and distributing copies. If and only if both production costs of copies and institutional costs of the distribution of copies are sufficiently small; does controlling the number of copies benefit the publisher. However, the publisher's optimal number of copies is too low from a social welfare perspective.     

Trade agreements with domestic policies as disguised protection

WTO rules prohibit “disguised protection” in the form of domestic policies. How then do governments cooperate over trade and domestic policies when none can verify whether a nation's domestic tax reduction is a protective measure or a reaction to a production externality? In this paper, each government privately observes whether a production externality associated with its import-competing good is high or low. This paper finds that in an optimal agreement, disguised protection with domestic policies is never used by governments with a high externality, and is never commonly realized. Moreover, in an optimal agreement, tariffs may be conditional on domestic policies.     

民营中小型企业如何进行人力资源管理

民营企业是我国国民经济重要组成部分,推动着社会的发展,本文通过分析中小企业的优势和劣势,从各个环节提出企业的人力资源管理与开发应将组织的发展目标与员工个人的发展需要巧妙地结合起来,运用激励,极大地激发员工的工作热情,提高员工对企业的忠诚度。     

从环境变化看我国私募基金发展的出路

随着各项改革深入进行，我国私募基金面临着环境的变化。深入剖析环境变化的影响、及时调整发展方向与战略定位是谋求进一步发展的前提。本文从产权环境、竞争环境、监管环境、信用环境和信息环境五个角度出发，分析了新时期环境变化对私募基金生存与发展的影响，指出我国私募基金未来发展应做好的几方面工作。     

Mixed oligopoly and the choice of capacity

We analyze the capacity choice of firms under different time structures in a mixed oligopoly market, in which firms decide not only production quantities but also capacity scales. We show that the public firm never chooses excess capacity, while the private firm never chooses under capacity under all possible strategic environments.     

机构投资者持股、政治联系与审计定价--基于民营上市公司的经验证据

以沪深两市2009—2012年661家A股主板民营上市公司为样本,对机构投资者持股、政治联系与审计定价的关系进行实证研究。研究结果表明：机构投资者持股比例越高,审计定价越高;进一步的分组研究发现有政治联系且有机构投资者持股的民营上市公司,随着机构持股比例的增加,其审计定价也越高;而没有政治联系且有机构持股的民营上市公司,随着机构持股比例的增加,审计定价越低,说明机构投资者和政治联系是审计定价过程中两个重要的影响因素。     

定向增发公告效应及长期市场反应研究

文章以2006-2012年A股成功实施定向增发的上市公司为研究样本,从定向增发认购者角度出发,充分比对预案公告日、增发公告日前后的短期公告效应以及长期市场反应。从长短期市场反应的分析中探究短期公告效应与长期市场反应的相关性,大股东、机构投资者在定向增发中的监督与合谋效应以及大股东参与定向增发对上市公司的支持与侵占作用。结果发现,短期公告效应尤其是预案公告日前的公告效应与长期收益相关性显著;机构投资者认购比例的提高增强了对大股东、管理层的监督效应,向市场传递了正向信息,短期公告效应较好;大股东认购比例与长期收益正相关,大股东参与定向增发起到了较好的支持作用。     

台湾《私立学校法》内容解析及述评

私立高等教育立法都强调保障和促进私立高等教育的健康发展,台湾对私立学校的立法宗旨、学校性质与地位、董事会制度、奖励与扶持、税收与收费、教职工权益保障等在《私立学校法》中进行了明确的规定。本文通过解读与述评《私立学校法》,同时提出相应的政策建议,进而为完善大陆民办高等教育政策法规提供参考依据。     

Disclosure standards and market efficiency: Evidence from analysts' forecasts

This paper studies whether recent international transparency initiatives affect information accuracy and dispersion. I show that the impact of these initiatives is limited because public disclosure crowds out private investments in information. I first develop a theoretical model of the incentive to invest in information and the impact of public disclosure. I then analyze stock market analysts' forecasts for thirty developing economies for the period 1990-2004. I find that disclosure standards enhance forecast accuracy directly but at the same time reduce the number of analysts per stock (proxy for private information investments). The net effect of disclosure standards thus ranges from weak to nonexistent.     

民营科技企业知识管理效果评价

知识管理是民营科技企业提升竞争力的源泉,而知识创新是否及时,知识共享是否到位则在很大程度上影响企业知识管理的广度和深度,为引导企业知识管理朝正确方向发展采用模糊评价方法从知识创新和知识共享两个方面对民营科技企业的知识管理的效果加以衡量、评价。