Cost of Capital Under Local Constraint on Debt Financing:

A unique constraint on financing of direct foreign investment by MNCs IS a total or partial prohibition on debt financ- ing in many Islamic countries. This paper analyzes the implications of such a conslraint for an MNC's financing and investment deci- sions. The comparative investment levels under alternative financing instruments based on profit and loss sharing (PLS) contracts are examined considering the effects of market imperfections and secu- rity related differences with reference to the existing literature on capital structure. The analysis shows that when debt financing is constrained the cost of capital to a firm will be higher and the invest- ment levels lower.     

中国加工贸易的工资分配效应研究

国际外包的蓬勃发展:一方面,改变了国际贸易格局;另一方面,催生新的贸易方式—中间产品贸易,这种新型的贸易方式会影响一国不同类型劳动者的工资收入。本文以中国加工贸易作为中间产品贸易的衡量,选取1996～2008年数据作为样本进行时间序列回归,结果表明,加工贸易规模与制造业技能工人的相对工资成反方向变动。最后本文结合实证分析结果认为:我国应该积极参与中间产品贸易,扩大加工贸易规模,以增强其对缓解就业、缩小工资差距的作用。     

Unions and Gender Pay Equity in Academe: A Study of U.S. Institutions

This paper uses 1994-95 faculty salary data from over 1,100 four-year U.S. academic institutions, about one-fourth of them with collective bargaining agreements, to ask if faculty unions make a difference to gender pay equity. Average gender salary differences are negative at every rank and at every category of U.S. institution with or without collective bargaining agreement. Unions may improve gender salary differentials somewhat, particularly at the assistant professor level. There is no evidence that this gain will be lost at higher levels, and mixed evidence that further gains occur for women at the full professor level. The most pervasive and robust consequence of unions is to increase the positive impact that higher proportions of women at senior faculty ranks make on relative salaries at the assistant professor level. However, the influence of these higher-ranked women on gender salary inequalities at the associate and full levels is lower in union schools than nonunion schools. By reducing the flexibility of existing salary structures, collective bargaining apparently reduces the influence of senior women faculty on the salaries of current women faculty members while increasing their attention and influence at entry levels.     

特殊导线的应用比较

本文假设导线达到倍容目的,针对截面是500mm2碳纤维导线、间隙型导线、普通导线进行比较,确定特殊导线的选择。     

论微博问政对公共政策制定的影响

伴随着微博渐趋平民化与大众化,微博问政这一“民间舆论场”受到网民青睐.微博问政对公共政策的制定利弊皆存：它有利于推动社会问题进入政策议程,维护政策合法化,促进政策制定的民主科学化；但由于虚假信息过多、利益集团、国外敌对势力的干扰、数字鸿沟的差异使得微博问政给公共政策制定也带来消极影响.本文将立足阐述微博问政兴起的背景与发展现状,分析其对公共政策制定的利弊,最后将探讨提升微博问政在公共政策制定中效能的路径.     

论证券投资基金的收益及其分配

证券投资基金的收益主要包括利息收入，股利收入和资本利得。在甸证券市场发育不完善的现阶段，出于会计谨慎性原则的考虑，证券投资基金的收益不应包括股票股利和未实现的资本利得。在收益分配方面，管理层对证券投资基金收益分配政策的限制过程多过死，不利于投资基金业的健康发展，基金持有人大会在基金收益分配政策的制定上应当享有更多的决定权。     

从2000年基金年报信息追溯基金研究中心的三个问题

本文从三个方面对2000年基金年报信息进行了剖析。第一，从多角度对33只证券投资基金进行分类的结果表明，最能体现基金业绩与投资风格差异度的分类方法不是基金的投资目标而是基金管理公司。基金管理公司内部的资源共享是造成这一现象的原因。第二，指数型基金在2000年的表现尚不尽人意，投资理念亦不清晰。第三，保险公司选择基金的标准相当理性，注重基金的分红市价比、夏普指数、资产净值收益率几项指标，其选择的正确性亦得到2000年基金业绩的证实。     

商业银行制度演进的逻辑——一个基于社会资金流动视点的分析框架

从社会资金流动视点观察,银行的经济性质是社会资金流动的管道,银行的基本功能是为经济活动中的资金流动提供管道服务。商业银行制度演进的实质,是社会资金流动管道功能的发展,是对现代市场经济中资金流动新态势的真实再现。中国的商业银行改革和发展的路径,是实现从原来的国家融资工具向社会资金流动管道的转变。     

基金会计理论与我国政府会计改革

我国传统预算会计的基本目标是为了满足国家宏观经济管理对会计信息的需求,而未来的政府会计既要为政府制定政策、进行绩效评估提供信息,同时更要为纳税人提供有关整个政府财务的信息。因此,未来我国传统的预算会计模式需要借鉴国外经验,向政府会计模式转变。而要建立政府会计模式,必须明确基金会计的改革取向,推动我国政府会计的全面改革。