核查待购企业的收入报表

收购企业是一项机会和风险都很大的市场活动.要想尽量降低收购企业的风险,必须仔细核查收入报表,以便准确了解企业的收支情况,消除帐面数字可能埋伏的虚假成分,确定企业真实的获利能力.本文针对收购企业面临的一些实际问题,探索销售收入、销售货物成本、销售毛利、营业费用总额、折旧费、利息和税后净收益等方面的核查重点,以及相应的方法和对策.     

杠杆收购财务风险的分析与控制

杠杆收购是一种高负债的企业收购，如何把举债引起的财务风险控制在较安全程度以内，对收购企业至关重要。杠杆收购财务风险的来源主要有：资本结构变动风险和经营变动风险，用“标准静态控制－模型动态优化体系”可对收购后的风险进行优化控制。     

企业合并财务风险有关债务重组的几点思考

企业并购可以有效地降低企业进入新行业的障碍，获得目标企业的核心技术、销售网络、管理、品牌和人力资源等特殊资产，实现企业低成本、低风险的扩张和多元化经营，提高市场占有率和行业集中度，实现规模经济战略，因而被认为是企业取得核心竞争力的一种战略手段。诺贝尔经济学获得者斯蒂格勒也曾说过，综观美国著名大企业，几乎没有哪一家不是以某种方式、在某种程度上应用了兼并、收购而发展起来的。     

吉林省粮食收购资金封闭运动形势与对策

当前，吉林省粮食收购资金封闭运行形势较为严峻。面对复杂的经营形势，应侧重城加大收购资金监管力度、调整费用贷款供应方式、支持企业扩大销售渠道和改善经营环境上下功夫。     

管理层收购企业剩余索取权的特殊性与激励模型分析

管理层收购后，企业的剩余索取权呈现出与企业剩余控制权紧密结合、与企业的风险紧密结合和与大量债务融资紧密结合的特征。这些特征使管理层收购企业剩余索取权激励与收购前相比发生了重大变化。通过模型分析，可得出以下结论：（1）管理层收购使管理者获取剩余索取权，从而调动了工作积极性；（2）管理层收购企业全部股权比收购部分股权更能调动积极性，降低代理成本；（3）即使管理层不能收购企业全部股权，也比资本雇佣劳动框架下获取的激励更能调动管理者的工作积极性。     

浅议县级行收购资金封闭运行的难点与对策

自敞开收购、顺价销售、收购资金封闭运行三项政策出台后,农发行的粮食主管部门等单位进一步加强了监管力度,粮食亏本降价销售从根本上得到了遏制。但影响和制约粮食收购封闭运行的因素仍然存在：一是企业自身改革滞后。若实现收购资金封闭运行,加强粮食收储企业自身改革是基本条件。但国务院制定的粮食体制改革方案在推行中存在着落实不到位的情况。如收储企业在一定程度上很难达到四有机制,仍不同程度地存在着政企不分,收储企业的财产、人员分离不彻底等,这些都是影响收购资金封闭运行的隐患。二是粮食销售难顺价。顺价销售是实现收…     

一个销售人员的激励模型

销售人员是企业里的一个特殊群体，他们的工作表现对企业的市场竞争成败极为关键。面对这样的员工，企业怎样激励他们？这也是所有企业面ll盘的一个重要挑战。本文认为，销售人员的收入跟销售业绩挂钩是一个好的激励方式。但是，企业在设计激励机制时，要充分考虑销售人员对风险的态度和销售工作本身的风险。另外，企业提供固定销售费用，可以有效遏制销售费用的膨胀。     

浅析企业合并之反向购买

随着中国经济的发展,上市公司的数量已经突破2000家,上市公司兼并收购大型企业的案例越来越多,然而部分上市公司往往也被大型非上市公司收购,即所谓的借壳上市或反向购买,本文主要介绍企业合并的基本理论并重点介绍反向购买会计处理原则,结合反向购买案例加以探讨。     

议企业销售与收款的内部控制

一、企业销售与收款的风险 在制造行业中，销售与收款是企业经营活动非常重要的工作，其基本包括6个环节——市场推广、销售合同谈判和签订、客户服务、发货、开具发票确认应收账款、收款。销售与收款环节中，收款是最后一个环节，体现前面环节的成果，如果前面各环节出现舞弊风险，将会给收款环节留下很大的财产损失风险。同时销售业务质量的高低完全可以体现在应收账款的变化上，从财务上看．会计科目应收账款的借方反映销售额的多少，贷方反映货款回收的多少，余额则反映没回收的货款还有多少，所以如果销售与收款的风险发生了，最终会体现为企业的财务风险。     

企业集团会计报表分析方法

企业集团会计报表分析可分为一个较大的体系，企业根据自身的情况，选用不同的方法，从不同的角度进行分析。企业会计报表主要是对资产负债表、利润表、现金流量表及其他报表进行分析，不仅可使企业集团的经营管理者了解企业的资产状况、经营成果，还可了解企业的财务风险和经营风险。     

Can price discrimination improve the performance of online retail platforms?

Online retail platforms are the core of online retail activities, but due to increased competition among the platforms, traditional sources of revenue such as the membership and transaction fees alone cannot guarantee platform profitability. Thus, platform enterprises are looking for other sources of revenue. In this article, we focus on the role of value-added services fees charged by platforms. Specifically, we show that price discrimination exercised by platform enterprises in value-added services fees can increase the user access scale, platform profit as well as the social welfare.     

中国100强企业的成长轨迹分析

选择中国前100强企业作为研究对象,从100强企业2002—2010年销售收入、利润总额、所有者权益、从业人员数量、人均利润及各项指标增长率变化等方面进行时间序列分析,得出:中国最大的100强企业的发展轨迹基本向好、中间略有波折,这在一定程度上与统计数据缺失及国际经济景气变化有关。     

政府为什么会放弃国有企业的产权

作为国有资产所有权的代表 ,政府为什么会放弃国有企业的产权 ?已有的经济学文献有两个基本的解释 :一种认为政府放弃国有企业产权的目的在于提高效率 (简称“效率论”) ;而另一种认为政府是出自财政的压力 ,即停止对亏损国有企业的补贴 ,或出售国有资产增加财政收入 (简称“收入论”)。我们的实证研究否定了“效率论” ,而给“收入论”提供了支持。此外 ,我们的研究还为以下结论提供了依据 :政府对失业和降低控制权收益 (来自对国有企业直接的控制权 )的担心是国有企业民营化或破产清算的重大障碍。因此 ,一个简单的含义是 :采用一个将政府目标函数考虑在内的次优民营化或破产清算方案是明智的 ;同时 ,对政府来说 ,这也许比一个无法实施的最优方案更为可行     

Corporation tax revenue growth in the UK: A microsimulation analysis

This paper examines the built-in flexibility properties — as measured by the elasticity of revenue with respect to profits — of the UK corporation tax system. Emphasis is placed on determining some of the major influences on the extent to which total corporation tax revenue changes when profits change over the economic cycle. A microsimulation model, CorpSim, is constructed and used to obtain numerical results. In the model, corporations use group relief, capital allowances and losses in a tax-minimising manner. The growth of aggregate corporation tax revenue in practice in the UK appears to be highly volatile in relation to the growth of profits. High volatility in revenue elasticities is found to be especially associated with economic downturns. In mild economic downturns, corporation tax revenue elasticities may rise (because tax growth falls less than profit growth), but in more severe downturns, large but temporary decreases in revenue elasticities (and even negative elasticities) can be expected.     

Asymmetric Capital Tax Competition with Profit Shifting

This paper analyses capital tax competition between jurisdictions of different size when multinational firms can shift some fraction of their tax base between them. For the case of revenue maximizing governments, we show that introducing profit shifting will not generally increase downward pressure on tax rates. We find that profit shifting decreases the tax-base sensitivity of the low tax jurisdiction while increasing the sensitivity of the high tax jurisdiction. Tax rates will converge as a result of additional profit shifting opportunities. This will be the case even though in general equilibrium tax rates in both jurisdictions may decrease or increase.     

消费者与仿冒侵权产品关系的商业伦理分析

本研究发现,消费者对于仿冒侵权的态度、伦理信念与仿冒品购买意向显著相关,关系品质对消费者仿冒侵权的态度、消费伦理信念与仿冒品购买意向有调节作用。本文丰富了从消费者伦理角度研究商业伦理的议题,增强了政府、企业与反仿冒团体干预消费者购买仿冒品意向的能力。     

The costs of tax havens: evidence from industry-level data

ABSTRACT

Multinational enterprises make use of tax havens to avoid paying corporate income taxes and this costs 100 billion USD and more in lost government revenue worldwide according to an increasing number of recent studies. None of those studies assigns these costs to industries. I aim to shed more light on this gap by using some of the best available industry-level US data to determine to what extent the location of the MNEs’ profit is aligned with the location of their economic activities. My first finding is that the most important tax havens for US multinational enterprises are the Netherlands, Ireland and Luxembourg (all EU member states). Second, I systematically identify the specific industries in specific tax havens responsible for the costs, which should be useful information for tax authorities aiming to reduce tax avoidance. Finally, I argue that the current data are not detailed enough to provide a reliable industry breakdown of the costs, but the prospect of combining input-output tables with forthcoming country-by-country data seems more promising.     

企业降价与总收益关系的新认识

随着环境的变化,企业有时候要调低产品价格。本文针对一些企业错误地应用关于降价与总收益关系的传统结论的现象,结合数学和经济学,提出了很多命题,对降价与总收益之间的关系揭示得很清楚,对于传统的需求价格弹性理论关于降价与总收益之间关系的不完全准确认识的一种修正,也是对需求价格弹性理论应用的拓展;且本文分别用图形形象地表示出降价与总收益之间的关系,结合企业在调低价格后给予一定的指导——企业降价后还要进行跟踪调查、还要根据效果采取相应措施、要关注客户需求量的变化、降价不是拍脑袋的事情,这具有一定的现实意义。     

Constrained sales maximization under a linear technology

This paper employs the activity analysis framework of linear programming to solve the decision problem of maximizing sales revenue in the presence of a minimum acceptable profit constraint. One of the advantages of using this model relative to the standard neoclassical approach is that, in addition to determining the firm's optimal product mix, we can also explore the ramifications of constrained revenue maximization on the imputed valuation of the firm's resources. The primal and dual solution values for the constrained revenue maximization problems are then compared with those derived from a linear profit maximization model. A computational technique is offered which demonstrates how constrained revenue maximization is carried out in actual practice.     

The Feasibility of the Double‐Dividend Hypothesis in a Democratic Economy

The two dividends in the double‐dividend hypothesis are assumed to be independent. This assumption can be misleading when it comes to formulating policy. I construct a model where the pollution tax rate is voted for by heterogeneous people. In addition to the revenue‐recycling effect, the equilibrium pollution tax rate depends on two opposite forces: the tax‐cutting effect and the profit effect. The two forces show that an instrument that exploits a greater revenue‐recycling effect can cause a more severe environmental deterioration, thereby resulting in the infeasibility of the hypothesis. The introduction of the interdependence between the two dividends can also mean that non‐revenue‐raising instruments are more efficient than revenue‐raising instruments.