A parsimonious model to forecast financial distress,based on audit evidence

This paper provides evidence that audit reports convey relevant evidence for inferring the existence of underlying, unrevealed, financial imbalances. Unlike previous works, which studied US listed-firms bankruptcy, our research deals with Spanish non-financial SMEs under financial stress. Our results indicate that the audit of distressed SMEs has several distinctive features: higher auditor rotation, more qualified reports, and non-compliance with deadlines to approve and file the annual financial statements. We use this evidence to build and test a parsimonious and reliable forecast model. Several implications for auditors’ independence, information quality, and failure forecast are discussed.     

英、汉语言语际交流中的常见语用失误

人们在进行英、汉两种语言语际交际时,在"礼貌原则"、"会话含意"和"所指关系"三个方面的理解不同而有可能产生语用失误。因此,在进行英语与汉语之间的交流时,人们一定要考虑所用语言的文化背景和社会背景,不能用自己的风俗去硬套别人的风俗。否则,在交流中会产生许多失误,达不到交际的目的。     

我国旅行社行业发展的几个理论问题——对我国旅行社行业制度变迁的考察

简要地回顾和评述了二十多年来我国旅行社行业的发展历程，对一些长期困扰旅行社行业发展的诸如旅游业发展与制度化环境、政府主导与市场主导、“政策失灵”问题，行业垄断还是行业竞争等理论问题提出了独立的见解，并就我国旅行社业的发展趋势与路径选择提出了建设性的意见。     

The transition crisis in Bulgaria

In 1996-97, while making its way through a difficult processof economic and political transformations, Bulgaria was hitby a severe economic crisis. This paper seeks to reveal andanalyse the underlying factors and causes of this crisis. Itfocuses on empirical issues but also highlights some basic causalitiesand interrelations between economic variables during the crisisas well as the role of economic policy. The economic turmoilin Bulgaria is addressed from three different perspectives:(1) the historic roots of the crisis; (2) the actual evolutionof the fiscal, banking and currency crises, and (3) the politicaleconomy of the transition in Bulgaria.     

论社会主义市场经济条件下市场机制与政府作用关系

在社会主义市场经济建设过程中，要注意协调好市场机制和政府作用的关系。市场经济中，市场机制应处于资源配置的基础地位。要致力于创造一个公开、公正、公平的市场不环境，加强与市场经济相适应的法制建设，使市场机制得以有产地发挥作用，提高经济效率。由于不完全竞争、外部性等原因，存在“市场失灵”现象，下令在经济中也要发挥积极作用，如调整收入分配、维护社会公平、通过财政政策和货币政策维护经济稳定、消除失业、实现经     

银川西夏热电厂阴极振打控制回路故障分析及处理

本论文分析了宁夏电投西夏热电有限公司#1、#2机电除尘阴极振打控制装置矩阵输出回路接触器发生连续烧损故障的原因,故障后造成的影响,通过技术整改,改造输出回路继电器及电缆等处理对策措施,取得了很好的效果。     

Examining Public Hospital Service Failure: The Influence of Service Failure Type,Service Expectations,and Attribution on Consumer Response

This study investigates three independent variables; types of service failure, service expectations, and attribution on postfailure responses in healthcare. A between-subjects 3?×?2?×?2 experimental design using written scenarios was used. The findings demonstrate that customer responses to service failures in hospitals are extensively influenced by the type of service failure, the level of service expectation of the provider, and, to a lesser extent, the controllability of the cause of the failure. Core service failures lead to greater increases in negative responses for satisfaction, emotional, and behavioral responses than supplementary service failure with high service expectations protecting the provider against overall dissatisfaction, negative word-of-mouth, and switching behaviors. Interestingly, perceived high controllability leads to greater dissatisfaction but not to increased negative emotional or behavioral responses. The study applies attribution theory to explain the results. The article concludes with managerial implications.     

PUBLIC CHOICE THEORY AND HOUSE OF LORDS REFORM

By revealing the propensity of elected governments to indulge in self‐interest at the expense of the people's liberty, public choice theory provides powerful arguments in favour of an appointed House of Lords rather than an elected upper chamber.     

The causality examination between demand uncertainty and hotel failure: A case study of international tourist hotels in Taiwan

The hotel business is highly sensitive to economic cycles, as the industry faces high frequency and high fluctuation of uncertainty over the demand for lodging services. Without a thorough consideration on the issue, hotels may undergo a business crisis. This research therefore investigates the influence of demand uncertainty on hotel failure by using the operation data of international tourist hotels in Taiwan during 1995–2008. The analysis applies two stages of estimation. The first stage employs a first-order autoregressive model, AR(1), to model lodging demand uncertainty. The second stage estimates the likelihood of hotels’ failure by using a logit model. The results are supportive to determine that the demand uncertainty causes hotel failures.     

Transactions,standardisation and competition: Establishing uniform sizes in the British wire industry c.1880

When science could not provide a solution to transaction problems in the British wire industry c.1880, market groups had to negotiate a business solution. This involved converging towards a ‘one-size-fits-all’ standard: a process requiring compromises and cooperation between competitive firms, and solving coordination failure through state intervention. This paper demonstrates how different groups held different notions of ‘ideal’ standards depending on the incentives they faced. Reconciling these differences was an institutional, rather than a technological, process. The paper also analyses why, historically, dominant producers cooperated to set industry standards when faced with an imminent lock-in on ‘wrong’ standards imposed on the industry.