Are recent segment disclosures of Japanese firms useful?: Views of Japanese financial analysts

Since 1990, the Japanese Ministry of Finance (MOF) has required Japanese firms to disclose segment data in annual financial statements. Using a survey instrument, we examine whether Japanese analysts find these segment disclosures to be useful. Our study finds that analysts perceive that segment data aid them in forecasting consolidated sales and net income. However, results also show that analysts are concerned that Japanese firms do not define segments meaningfully and consistently and are arbitrary in the allocation of common costs. Further, the analysts do not believe that the usefulness of segment data improves when it is audited. These results have implications for investors in Japanese stocks and accounting policy bodies, such as the US Securities and Exchange Commission (SEC).     

从战略管理角度透视财务管理目标

运用战略管理的基本理论 ,在分析现行理论界关于财务管理目标的不足之处的基础上 ,提出了财务管理的新的目标———战略计划期利润最大化。     

中国城市化有关问题初探

城市化问题是当代社会经济发展的重大问题，是涉及到自然资源的合理开发利用，农村人口转化、剩余劳动力的走向以及城市工业、第三产业发展的关键问题。     

A Cross‐national Comparison of R&D Expenditure Decisions: Tax Incentives and Financial Constraints*

We provide evidence on the impact of tax incentives and financial constraints on corporate R&D expenditure decisions. We contribute to extant research by comparing R&D expenditures in the United States and Canada, thereby exploiting the differences in the two countries' R&D tax credit mechanisms and generally accepted accounting principles. The two tax incentive mechanism designs are consistent with differing views of the degree of financial constraints faced by firms in these economies. Our sample also allows us to explore the effects of capitalizing R&D on Canadian firms. Employing a matched design, we document relations between tax credit incentives and R&D spending consistent with both Canadian and U.S. public companies responding as though they are not financially constrained. We estimate that the Canadian credit system induces, on average, $1.30 of additional R&D spending per dollar of taxes forgone while the U.S. system induces, on average, $2.96 of additional spending. We also find that firms that capitalize R&D costs in Canada spend, on average, 18 percent more on R&D. Collectively, this evidence is important to the ongoing debates in both countries concerning the appropriate design of incentives for R&D and is consistent with the assumptions found in the U.S. tax credit system, but not those found in the Canadian system.     

论洪江古商城的保护与开发

洪江古商城县有独特的文化价值,是一部明清至民国的历史百科全书.其保护与开发,从对立走向统一,需要在认识与实践中创造,即坚持科学发展观,实现社会效益与经济效益的一致性,促进社会文明、生态文明、政治文明进步,促进经济社会发展.在此基础上,使保护与开发走上良性发展之路.     

区域金融创新体系研究

金融创新是金融发展的主要推动力之一,由于每一地区的经济、金融环境各不相同,有必要对区域金融创新体系的建立进行探索与研究,这样才能有针对性的对区域金融、经济的发展提出建设性的建议。因此,为了促进具有区域特色的金融创新的产生和发展,并使金融创新促进本地区的产业升级和经济发展,针对现有研究,文章对区域金融创新体系的概念界定、要素构成、运行机制、功能作用和构建中的实践问题等几个方面进行了分析研究。     

邓小平发展观的基本特征

邓小平发展观是邓小平理论的核心内容之一.邓小平发展现,体现了视野的全球性、内涵的丰富性、体系的创新性、思维的辩证性、取向的人民性等基本特征.邓小平发展观是与时代和国情相适应的社会主义发展观,是科学发展观确立的思想基础.     

Research on impacts of international textile trade development on Chinese textile trade and countermeasure s

Under the international textile trade development condition, the author analyzes the international textile trade market and the situation of Chinese textile trade after China entry into WTO, reveals the influence of the world textile trade development on Chinese textile trade, and proposes a series     

大城市边缘区土地利用变化与社会经济发展关系分析——以北京市平谷区为例

大城市边缘区是城市化最敏感、变化最大、最迅速的地区,也是土地利用变化最显著的地区,研究大城市边缘区土地利用变化时空过程及其驱动机制,对实现大城市自身可持续发展具有重要意义。该文采用数理统计与综合分析方法,对北京市平谷区土地利用动态变化及其与GDP、产业结构、消费结构、城镇化以及人口等社会经济发展因素的关系进行了分析。研究结果表明:1996~2004年,平谷区农用地面积持续减少,其中耕地减少较多,园地增长速度较快,林地略有减少。建设用地持续增加,其中交通用地增长速度最快。平谷区的土地利用变化与经济增长、产业升级、城镇化发展、消费结构变化以及人口增长具有显著的相关性,社会经济发展是土地利用变化的主要驱动因素。节约集约土地,提高土地利用效率,调整土地利用结构,促进产业优化升级,保障服务首都北京功能和平谷区域社会经济发展成为平谷区土地利用的必然要求。