Dividends,research and development expenditures,and the value relevance of book value for UK loss-making firms

We extend prior research on the value relevance of accounting information for loss-making firms by allowing the coefficient of book value to vary across three distinct set of loss-making firm observations in our valuation model. Our key findings are, first, that book value is a less important determinant of equity value for either high R&D-intensive firms or dividend-paying firms, relative to firms with low R&D-intensity and zero dividends. Prior literature suggests that book value is a strong indicator of firm value for loss-making firms. This reasoning stems from book value's role as: (i) a proxy for the value of the possibility of abandoning or adapting the firms' net assets; and/or (ii) a proxy for expected future normal earnings. Our work suggests that this prior literature does not fully capture the valuation role of book value for loss-making firms. Second, we also find that dividends are value relevant, but generally only when the valuation role of book value is contextualised by allowing its coefficient to vary across high R&D-intensive firms, and dividend-paying, loss-making firms.     

农村信用体系建设研究——百色视角

农村信用体系建设是社会信用体系建设的重要组成部分。目前我国农村信用体系建设严重滞后,已阻碍了社会主义新农村建设的步伐。本文以百色市为视角,结合广西田东县农村信用体系建设实践,深入分析农村信用体系建设现状,找出存在问题及原因,并采取积极有效措施,进一步推进农村信用体系建设。     

中国当代城市经济理论研究的沿革与发展

城市经济是国民经济的重要领域,对城市经济理论的研究,中国当代学者始终没有停下脚步,尤其是改革开放以来,开展了精彩而深刻的探索,取得了大量的成果。本文旨在梳理、揭示和反映中国当代城市经济理论研究的波澜壮阔的历程。     

打造涠洲岛国际高端休闲旅游岛的金融支持对策

本文参考和借鉴国内国外旅游岛建设过程的投融资经验,以北海涠洲岛开发建设为例,分析了金融支持的现状,诊断在投融资方面存在的问题,并运用比较经济学的相关理论,提出加大金融对涠洲岛高端休闲旅游岛开发建设的政策建议,对涠洲岛建设国际旅游岛具有重要的借鉴意义.     

EAP理念下大学英语“合作学习”教学模式探究

从上世纪七十年代起，“合作学习”作为学术英语（EAP）能力培养的主要途径引来不少教师的关注，但将其科学合理地运用于教学课堂，并研究其实际开展的例子不多。文章以“行动研究”为框架，对实际教学实践中“合作学习”教学模式进行系统探究，通过文献查找、课堂观摩和教师访谈等研究方法搜集数据。研究表明，“异质组”是“合作学习”前最佳分组方式；“合作学习”任务应将趣味性、真实性、目标性合为一体；而教师不应过度介入学生“合作学习”中。     

Leisure Research and Leisure Practice: Three Perspectives on Constructing the Research?Practice Relation

The leisure research?leisure practice relation remains uncertain. Assuming leisure provides a preexisting link is not supported by research. Leisure research and leisure practice are independent professional paradigms between which a relation must be constructed. Three perspectives on constructing the research?practice relation are examined in this article: the traditional, the personal, and the critical. The benefits approach to leisure is a test case in each perspective. The traditional and personal perspectives subordinate one professional paradigm to the other or intensify their separation. The benefits approach fails to resolve these difficulties. The critical perspective emphasizes developmental activity and emancipation, facilitates research?practice interaction, and maintains the professional paradigms' integrity, and it reveals shortcomings in the benefits approach. The critical perspective enables the most dynamic research?practice relation.     

关于完善佛山市基层农业公共服务体系的调研报告

本文以佛山市基层农业技术推广、动植物疫情防控、农产品质量监管三大体系为研究重点，基于调研各区（未含顺德区）、镇（街道）获取的基本数据，深入剖析基层农业公共服务体系存在的问题，提出改进工作的相关建议。     

中小企业服务体系建设研究

十年来,我国中小企业服务体系建设取得了一定成绩,但服务体系的整体架构、基本职能、发展模式等方面仍未达成广泛共识,特别是2011年产生的理论热点＂中小企业公共服务平台网络＂建设凸显了诸多问题。通过分析近年来我国特别是吉林省中小企业服务体系的发展,对＂中小企业公共服务平台网络＂进行概述,对现实问题进行剖析,提出相关政策建议。     

Commentary: Morality and workability ­ a rejoinder to O'Riordan

This paper is about understanding the rhetoric of precaution and the practice of decision-making in areas of environmental controversy. It untangles the rhetoric, as established in documented agreements referring to precaution, from the constituent ideas that embody it, as characterized by those who deliberate on its application. By analysing the ways in which the rhetoric of precaution is framed within these documents it is possible to identify different elements that make up the principle in theory. By focussing on the constituent ideas behind the precautionary principle it is possible to move forward from the stalemate of rhetoric that could become the focus of attention itself.     

Comparative research in industrial relations: helping the survey cross frontiers

There has been a relative dearth of comparative, cross-national research which has followed a survey-based approach. This partly reflects the difficulty that researchers encounter in collecting such information, either via primary collection or the secondary matching of existing survey material. This paper addresses these difficulties and suggests ways in which their impact can be minimized. It notes that such difficulties are much more severe in the case of secondary matching and are thereby likely to constrain the scope of this approach. They are not totally absent in primary collection and it is suggested that there are limits to what can be achieved during data collection to promote the development of like data-sets across countries. This indicates that great care must be taken in interpreting data so obtained. Despite such limits and cautions, it is nevertheless concluded that the survey approach can be an important adjunct to the process of understanding why the world of work varies across frontiers.