Limiting Auditors' Liability: The Potential Consequences

The recent revival of interest in the issue of limiting auditors' liability raises questions about the potential effect of such a limitation on auditors' performance. This paper considers the consequences of limited liability from the perspectives of contracting theory and economic arguments. We examine the potential effect of a reduction in auditors' liability on the standard of care or quality of service they provide, emphasising the "calculus of negligence" concept used by Australian courts. We consider the potential impact of reduced liability on the auditor's decision to shirk responsibilities (the moral hazard problem) and on the value placed on audit services. The analysis shows that placing a statutory cap on auditors' liability has the potential to reduce the effectiveness of bonding mechanisms; provide an avenue for divergent behaviour; lower the level of care provided by auditors; and decrease the value of audit services.     

具缺货期不同决策支配权的两级供应链合作机制研究

从考虑市场需求固定且卖方和买方对缺货期的不同决策支配权情况,研究了两级供应链的合作机制,建立了其不完全信息的动态博弈模型,并得出其精炼贝叶斯纳什均衡,从理论上证明了卖方和买方分别占支配地位和从属地位时买方卖方应相互合作。     

Immigration and Economic Welfare: Resource and Environmental Aspects*

The relation between immigration and the economic welfare of residents b analyzed for resource-rich economies (such as Australia) both under competitive conditions and when various distortions are present Immigration provides efficiency gains for residents under distortion–free competition for standard ‘gains from trade’ reasons. Such reasons, however, tend to be ignored by immigration and ‘optimal population’ theorists who raise the issue of restricting immigration without explicitly referring to the distortions. In situations where distortions and externalities are present, we argue that it is generally preferable to devise policies which specifically target the distortions than to restrict immigration.     

人口老龄化背景下提升我国城镇职工养老保险统筹层次分析及建议

我国自2000年起进入人口老龄化社会,近年来人口老龄化趋势持续上升,提升基本养老保险制度的保障能力成为急需,其中,提高基本养老保险的统筹层次为完善养老制度的步骤之一.2011年,中共中央在"十二五"规划中做出明确指示,由社会统筹账户中的基础养老金部分率先实行全国统筹,但在具体实施过程中却有一定困难.实现城镇职工养老保险的全国统筹需要突破当前存在的瓶颈问题,采取切实可行的举措.     

基于CVM的征地补偿价格测算——以湖北省荆门市为例

采用意愿调查法等方法,通过调查农户受偿意愿和市民支付意愿,测算出荆门市基于农户最低受偿意愿的征地补偿价格为85.77万元/公顷,基于市民最高支付意愿的征地补偿价格为147.03万元/公顷.并通过构建回归模型,探讨影响农户受偿意愿和市民支付意愿决策的显著因子;为合理确定征地补偿标准提供依据.     

Stock Price Dynamics and Firm Size: An Empirical investigation

We show that after controlling for the effects of bid-ask spreads and trading volume the conditional future volatility of equity returns is negatively related to the level of stock price. This “leverage effect” is stronger for small, as compared to large, firms. We also document that while the essential characteristics of the relations between stock price dynamics and firm size are stable, the strengths of the relationships appear to change over time.     

秦汉焚尸非火葬刍议

秦汉史籍所记载的焚尸,并非传统意义上的火葬。这些焚尸的目的大多是对死者的一种羞辱和对生者的一种泄愤。与传统意义上的焚尸相比,不仅目的不同,而且主持焚尸者大多为死者的仇敌或敌人。焚尸过程充满暴力,缺乏火葬所必须的仪式。这种掘人祖坟、焚尸的行为与当时的社会伦理相背离,也与当时的丧葬礼仪格格不入。     

关天经济区新型城镇化水平综合评价——基于PCA分析法

首先在界定了新型城镇化内涵的基础上,从新型城镇化发展的动力系统、质量系统和公平系统三大方面构建了评价关天经济区新型城镇化水平的指标体系,然后采用PCA主成分分析法对关天经济区各市区2003—2012年新型城镇化综合水平进行了测定及排名。结果显示:经济区在10年间新型城镇化水平总体呈上升趋势,但仍存在基础设施落后、城乡居民收入差距过大、产业结构不合理等问题。因此,以强化城镇发展动力提升为目的,合理配置产业结构;以提升城镇质量为核心,加强城镇基础设施建设;以改善社会公平为着力点,缩小城乡收入差距成为应对关天经济区新型城镇化问题的必然选择。     

Major Issues Associated With the Reporting of Government Net Worth

Modern governments are increasingly making legislative commitments to adopt responsible fiscal policies and, as part of those commitments, undertaking to maintain their net worth and to report against that undertaking. With recent developments in public-sector accounting, reporting of government net worth and change of net worth has become possible. This paper examines some major issues relating to the reporting of government net worth. As attempts to provide for the measurement of assets and liabilities (the components of net worth) on a current value basis have met significant opposition in the private sector, some implications for the public sector are considered.     

R) and thermo-gravimetric analyses(TG).The results indicated t

treatment in ethanol solvent,and flake shape crystal after treatment in water solvent.Peak temperature for thermal decomposition of NC/NG decreased by 3 ℃,and decomposition enthalpy increased by 735 J·g-1.The ca