从“三鹿奶粉”事件探析企业的营销道德

随着西方世界"企业非道德性神话"的破灭,企业为了单纯的经济利益而为所欲为的时代已经一去不复返。发达国家社会愈来愈要求企业的经营行为要遵循道德标准。在我国现阶段,由于企业过度追求经济利益,在营销活动中出现了大量道德失范行为,三鹿"毒奶粉"事件就是这一现象之一。本文针对企业营销道德失范的成因、危害,提出了防范企业营销道德缺失的应对措施。     

Pricing and Mispricing Effects of SFAS 131

Abstract:  We investigate the effects of the introduction of Statement of Financial Accounting Standards No. 131 (SFAS 131) on the market's valuation of foreign earnings. Thomas (1999) documents that investors discount the value of foreign earnings for US multinational companies. He conjectures but does not test the possibility that this finding is due to poor disclosure related to foreign operations. We find strong evidence that the introduction of the standard is positively associated with the pricing of foreign earnings. In addition, we use both the Mishkin (1983) test and a zero-investment hedge portfolio test and find that investors' mispricing of foreign earnings lessens (and in fact disappears) after SFAS 131. This study is one of the first attempts to show that improved disclosure reduces mispricing.     

土地市场构建国家民事主体制度的思考

法律规定国务院代表国家行使土地所有权,但国务院并不能实际履行代表行为,又没有转委托于其他主体而使所有权行使主体缺位.土地行政监管部门自封为土地所有权的出让人,其结果不但是主体错位,而且为地方政府通过公权力主体"挟持"民事主体而形成政府间的竞争提供了法律依据.追求政绩工程的区域竞争是政府垄断建设用地供应市场的动力,由地方政府形成的进入障碍是城乡建设用地市场二元结构的制度性原因.统一城乡建设用地市场的关键是国家民事主体的地位独立和平等.     

The Credit Channel at Work: Lessons from the Financial Crisis in Korea

We demonstrate that the credit channel of transmission of monetary/financial shocks appears to have aggravated Korea's economic crisis. We use micro-data gathered at the individual bank level to identify this channel of transmission. Our major findings are as follows: i) consistent with banks' autonomous retrenchment in loan supply, monetary tightening broadens the spread between marginal bank lending rates and corporate commercial paper rates; ii) credit limits on overdrafts – arguably a proxy identifying shifts in loan supply – react negatively to the monetary squeeze; iii) large negative capital shocks induce banks to disproportionately slow-down both lending and deposit taking and to disproportionately raise their lending rates. Our findings lend unequivocal support to the hypothesis that banks' autonomous contraction restricted the availability of credit and magnified the increase in its cost. In turn, this compounded the Korean crisis by aggravating liquidity constraints for the vast majority of agents who rely only on bank credit as an external source of funds.     

Restructuring of financial institutions and the corporate sector in Korea

This paper explores causes of the Korean currency crisis which started in November 1997. This paper also presents restructuring proposals and introduces the progress made so far. The urgency for quick restructuring and the necessity of the injection of money from both the government and foreign investors are emphasized. Restructuring of financial and corporate sectors should be pursued simultaneously. In the financial sector, the restructuring of banks should take precedence over other financial institutions. The key task in terms of bank restructuring involves the resolution of bad loans, recapitalization and the expedited reorganization of nonviable banks. Corporate reform is also important. Banks should play a central role in corporate workouts, especially in lowering excessive corporate debt and triggering corporate restructuring based on core competence. Transparency of corporate management, internationally accepted accounting practices, fuller disclosure requirements and stronger monitoring by minority shareholders are prerequisites for effective market discipline. Reform of ownership and governance structure are also important in enhancing managerial accountability of corporates as well as financial institutions.     

新疆企业国际化经营中品牌运营现状及对策研究

本文从新疆企业品牌国际化的定位、保护、推广、拓展四个方面对新疆企业国际化经营中品牌运营的现状进行了分析,指出新疆出口品牌程度低、影响小、数量少、结构不合理等方面存在的问题,最后提出了新疆企业国际化中要加强品牌运营的对策建议。     

高等财经院校物业管理本科专业人才培养模式探析

我国物业管理产业人才需求不断增加,呈现出明显的层次性,特别是管理类人才缺乏。财经院校物业管理本科专业人才培养要树立科学的指导思想,完善和实施动态理论教学平台和多样化的实践教学平台,完善学生考核测评制度,加强教师队伍建设。     

美国寿险产品信息披露制度及其对中国的启示

本文首先介绍了美国寿险产品信息披露制度,并通过制度对比,分析了我国新型人身保险产品信息披露制度中存在的问题,最后从扩展信息披露功能、建立原则、加强管理、提升效率四个方面提出了完善我国寿险产品信息披露制度的建议。     

流速仪检测比对分析

应用高密度电法对某水库坝体裂缝进行探测，基本查清了坝体裂缝的空间展布规律，为工程处理设计提供了科学依据。文中详细介绍了高密度电法的数据采集和资料分析过程，并就裂缝产生的原因进行了分析，对裂缝的工程处理方式提出了建议。