完善公司制企业治理结构的思考

在分析公司制企业治理结构现状及存在问题的基础上,提出了国有企业通过改革,建立股东、债权人、经营者、员工等利益相关者多方合作的企业治理结构的目标模式,通过对企业经营者的激励与约束,确保国有资产保值增值。     

QUADRATIC TERM STRUCTURE MODELS FOR RISK-FREE AND DEFAULTABLE RATES

In this paper, quadratic term structure models (QTSMs) are analyzed and characterized in a general Markovian setting. The primary motivation for this work is to find a useful extension of the traditional QTSM, which is based on an Ornstein–Uhlenbeck (OU) state process, while maintaining the analytical tractability of the model. To accomplish this, the class of quadratic processes, consisting of those Markov state processes that yield QTSM, is introduced. The main result states that OU processes are the only conservative quadratic processes. In general, however, a quadratic potential can be added to allow QTSMs to model default risk. It is further shown that the exponent functions that are inherent in the definition of the quadratic property can be determined by a system of Riccati equations with a unique admissible parameter set. The implications of these results for modeling the term structure of risk-free and defaultable rates are discussed.     

Pollution Control in Open Economies: Implications of Within-period Interactions for Dynamic Game Equilibrium

This paper examines a two-country, dynamic game model of pollution control in the presence of economic interactions between countries within a period, as well as the environmental interaction between periods (i.e., a change in the stock of global pollution). These economic interactions emerge because of changes in the terms of trade of polluting goods or the market share of domestic polluting industries. It is shown that if within-period externalities exist, a noncooperative equilibrium may result in a smaller stock of global pollution in the steady state than does international cooperation. Moreover, the properties of equilibrium paths depend on the direction and size of such externalities. In addition, trigger strategy equilibria that achieve the outcome of the collusive solution are examined.     

WebGIS技术在物流配送系统中的应用

万维网地理信息系统（WebGIS)是Internet技术和地理信息系统技术相结合的产物。在分析WebGIS实现技术的基础上，探讨了基于WebGIS的物流配送系统设计，提出了一个以SuperMap IS平台为基础，基于组件和Java Applet技术，利用ASP来实现界面的显示和交互，体现Brower/Serser三层体系结构的系统解决方案。     

公司治理结构中经营者盈余管理的博弈分析

本文从经营者与监督者之间的博弈模型入手,讨论了公司治理结构对盈余管理的影响,并在分析了我国目前的公司治理结构存在的问题后,提出了一些措施,最后给出了研究建议。     

论林浆纸一体化项目物流外包的必要性

针对林浆纸一体化项目与第三方物流建立战略同盟,进一步论述了林浆纸一体化项目物流外包对第三方物流的必要性。指出促使林浆纸一体化在经营过程中大量的原材料、初级产品及终端产品物流量科学配送降低物流成本,提高市场竞争能力,是实现企业永恒的主题。     

日本泡沫经济制度性原因分析及启示

20世纪90年代被称为日本经济“失去的10年”。日本经济一蹶不振,丧失了整整10年的发展。不少学者认为,90年代日本经济萧条意味着日本“又一次战败”即在经济战场上的“战败”。日本经济战败是败在了“制度”或“体制”方面,败给了成功地实行了“制度创新”或“体制创新”的美国。分析引发日本泡沫经济的制度性原因、探索日本经济走出衰退的途径,从中可寻找出对我国经济发展的有益启示。     

Symmetry and order in the portfolio allocation problem

Summary. This research studies the role of multivariate distribution structures on random asset returns in determining the optimal allocation vector for an expected utility maximizer. All our conclusions pertain for the set of risk averters. By carefully disturbing symmetry in the distribution of the, possibly covarying, returns, we ascertain the ordinal structure of the optimized allocation vector. Rank order of allocations is also established when a permutation symmetric random vector is mapped into the returns vector through location and scale shifts. It is shown that increased dispersion in the vectors of location and scale parameters benefit, ex-ante, investors as does a decrease in the rank correlation coefficient between the location and scale parameter vectors. Revealed preference comparative static results are identified for the location and scale vectors of asset returns. For most issues addressed, we arrive at much stronger inferences when a safe asset is available. Received: August 8, 2000; revised version: January 8, 2001     

国有经济结构分析与调整对策

国有经济战略调整是中央提出的国有企业改革和发展的重要目标。在计划经济体制向市场经济体制的转轨过程中，国有经济的分布仍不够合理，国有企业在竞争领域仍然占有很大的比重，在经济结构的优化方面仍然存在着一些不容忽视的问题。因此，对这一问题的深入研究，具有重要意义。     

The New Characteristics of the International Capital Circulation and the Strategic Readjustment of China＇s Utilizing Foreign Capitals

This essay proposes the concrete view that China＇s strategy of utilizing foreign capitals to adjust again on the foundation of explaining new characteristics of international capital circulation, namely, expanding the foreign investments of the service trade, strengthening efforts to attract outside investment of the Midwest, attracting trans-corporation＇s investment, etc., Chinese enterprises actively move towards overseas investment and create the policy environment that can contribute to absorbing the foreign capitals as well as making national economy benefit from it.