基于公共选择理论的行政成本控制研究

本文借鉴公共选择理论的宪政思想、有限政府主张、成本效益和竞争机制等观点,试图从政治体制改革、中央和地方政府事权与财权的联动改革、政务公开和监督制度建设方面等制度层面提出解决我国行政成本过高的根本措施。     

论国有资产管理变革的客观路径--公共选择理论的一个应用

国有资产管理改革的路径是由客观环境制约下的公共选择机制所决定的 ,清醒地认识这一点 ,并因势利导 ,平衡好利益矛盾 ,使之迂回渐进地趋近符合公共财政要求的规范目标 ,是我们的必然选择。     

Layering of IFRS and Dual Institutionality of Accounting Standards in Belarus

There is an ongoing debate about the applicability and efficacy of International Financial Reporting Standards (IFRS) adoption in countries with diverse institutional infrastructures. We examine financial reporting in Belarus and factors that are shaping its development. In Belarus, IFRS has been adopted through layering where it is an additional requirement to the existing reporting specified by the national accounting regulations. We explore how global standards were transposed and function in a highly specific institutional context. Based on an examination of reporting in the banking sector, we conclude that different objectives of IFRS and local reporting contribute to dual institutionality of standards where differing formats target the needs of diverse users. Thus, adoption through layering is unlikely to contribute to convergence between different reporting standards used for different purposes, and parallel reporting is expected to persist. By examining financial reporting practices in Belarus, we provide insights for practitioners, regulators, and standard-setters on implementation of IFRS in countries with similar heavy state involvement, and still using local regulations and traditions in parallel with IFRS.     

Equilibrium in Competitive Insurance Markets Under Adverse Selection and Yaari's Dual Theory of Risk

Under Yaari's dual theory of risk, we determine the equilibrium separating contracts for high and low risks in a competitive insurance market, in which risks are defined only by their expected losses, that is, a high risk is a risk that has a greater expected loss than a low risk. Also, we determine the pooling equilibrium contract when insurers are assumed non-myopic. Expected utility theory generally predicts that optimal insurance indemnity payments are nonlinear functions of the underlying loss due to the nonlinearity of agents' utility functions. Under Yaari's dual theory, we show that under mild technical conditions the indemnity payment is a piecewise linear function of the loss, a common property of insurance coverages.     

关于会计计量理论结构之认识

社会环境是构建会计计量理论结构的逻辑起点。会计计量理论包括会计计量基础理论和会计计量应用理论。探索会计理论结构,能够促进我国会计理论的发展,为会计工作者理解和掌握会计准则、会计制度提供帮助,从而使会计理论更好地为我国经济服务。     

认知能力、社会互动方式与家庭金融资产选择

本文运用CFPS2016数据,研究认知能力与社会互动方式对家庭资产选择的影响.研究发现,认知能力对家庭参与正规金融市场和持有风险资产占比有显著的正向作用,对家庭参与非正规金融市场有显著的抑制作用;线上社会互动对家庭参与正规金融市场和持有风险资产占比的促进作用要显著大于线下社会互动,并对线下社会互动有挤出效应;而线下社会...     

金融功能理论研究述评

金融发展理论研究金融发展和经济增长之间的关系.围绕经济等对金融的影响、金融对经济的影响两条主线展开,相应形成两种理论:阶段理论和功能理论.本文首先界定了金融发展理论、金融功能理论和金融阶段理论的概念,接着从金融机构的功能、金融发展与经济增长之间的关系等方面对国内外文献进行了综述,最后是结论性评价和进一步研究的方向.     

Smarandache对偶函数次幂的均值

对于任意的正整数n,Smarandache对偶函数定义为最大的正整数m使得m!｜n,即S＊ （n） =max{m：m!｜n,m∈N}.本文的主要目的是利用初等的方法研究Smarandache对偶函数k次幂的均值性质,并且给出一个较强的渐近公式.     

On the Choice of Superannuation Funds in Australia

Using a sample of Australian retail and wholesale superannuation funds to proxy for choice and limited choice alternatives, respectively, we investigate the costs and benefits of providing choice to investors. We find that investors who have choice don't respond to fees. Also, loads - typical of the choice environment - are likely to be a dead-weight loss borne by investors. Employees who involuntarily contribute to (employer) funds, tend to pay the lowest fees. Given these results, the advantages of choice become questionable. Our results show that managers of limited choice funds achieve greater positive abnormal returns than retail fund managers. The analysis of flows provides insight into why choice funds do not perform better than limited choice funds. Investors are not responding to historical performance as predicted.     

Self-Insurance, Self-Protection and Market Insurance within the Dual Theory of Choice

As demonstrated by Ehrlich and Becker [1972], Expected Utility Theory predicts that market insurance and self-insurance are substitutes, whilst surprisingly, market insurance and self-protection could be complements. This article examines the robustness of this conclusion, as well as its extensions under the Dual Theory of Choice [Yaari, 1987]. In particular, the non-reliability of self-insurance activities, background risk and asymmetric information are considered.     

金融资源论:对金融功能观与金融机构观的综合研究

金融资源论的提出是对金融基础理论研究的一次重大挑战.从金融机构观向金融功能观的演进是金融理论对现实世界变化的一种回应,金融资源论的提出同样是如此.金融资源的三个层次其实可以分为实体部分和功能部分,这两部分的主要内容和研究思路分别与金融机构观和金融功能观相对应.由此可见,在金融资源论与金融机构观和金融功能观之间存在着某种逻辑联系,即金融资源论是对金融机构观与金融功能观的一种综合,具有更为开阔的理论研究视角.这既为金融资源论构建了更为坚实的理论基础,也为金融资源论的进一步完善拓展了空间.     

市场经济条件下财务管理理论创新的三维视觉

十六届三中全会提出"完善"社会主义市场经济体制.为了与完善的市场体制相适应,财务管理学理论体系必须全面创新.本文试图从"市场化"、"人本化"、"全球化"的角度,探索财务管理理论创新的前提、创新的背景和创新的视觉,尝试着为财务管理理论的创新提供一种新的思维模式,搭建一个新的创新"平台".     

资源优势与条件约束下的次优选择：高青县区域担保圈风险处置案例

当前县域企业融资尤其是县域骨干企业融资多采取互保联保的捆绑担保模式,在经济波动条件下,容易产生区域担保圈风险的传递问题。区域担保圈风险的多发、频发所产生的多米诺骨牌效应,对区域金融经济乃至社会稳定产生巨大影响。山东省高青县在处理区域内多起担保圈风险事件中,实施分类处置、理性救助,将辖内涉及多家企业和多家金融机构的多起典型担保圈风险成功化解,但财政实际上是对银行不良担保行为的被动埋单,是资源优势与条件约束下的次优选择。治理和防范区域担保圈风险应更多地从产生问题根源角度采取市场的方式进行规范和引导,防患于未然。本文为化解和反思担保圈风险提供了可参考的案例。     

经典范畴理论与原型范畴理论关系之刍议

作为认知语言学发展至今影响最深远的两大范畴理论,经典范畴理论和原型范畴理论的优劣及其关系问题一直是学界关注和争议的焦点。本文从两种理论的特征出发,结合学界已有观点浅析二者的对立和互补关系,论证二者虽然存在很大分歧但并非完全对立,经典是原型的基础,原型是经典的延伸。原型范畴理论具有更大的包容性和实用性,但是经典范畴理论也仍具备其不可替代的优越性。     

企业共生财务战略及其实现路径

如何履行企业社会责任,履行社会责任与企业财务绩效的关系又是怎样,这是当前学界、政界和商界所普遍关注的热点问题。本文基于企业共生理论的平台,以解析和诠释共生观视角的财务战略和企业社会责任战略,以及两大战略相互依附而又相互独立的属性,实现企业财务战略与企业社会责任战略进行对接和耦合,使企业与各共生体和共生单元达到利益共生与共赢,由此寻找企业共生财务战略的实现路径。     

二元经济结构下我国新型农村资本支持体系研究

长期以来,我国在二元经济结构的基础上形成了二元资本结构,农村资本通过各种渠道不合理地流向城市;在市场机制作用下,资本趋利性使资本外流进一步加剧,在农村形成了巨大的资本缺口,致使城乡经济发展失衡.在现有的二元经济结构下,必须构建新型的农村资本支持体系,该体系主要由财政支持体系、价格支持体系、金融支持体系、集体和农户支持体系以及国际资本支持体系等部分有机组成.通过构建农村资本支持体系,最终消除城乡二元资本结构,建立城乡统一的资本支持体系,促进城乡经济的协调发展,实现我国经济的全面小康.     

Security Choice, Information Effects and Firm Characteristics: A Factor Analytic Approach

Abstract:   We examine the marginal choice between debt and equity securities using a factor analytic approach. This data reduction property eliminates the need to select the one best variable to proxy for a particular theoretical construct. Our results reinforce numerous existing findings using traditional methods and suggest both static tradeoff and asymmetric information based considerations are relevant in determining security choice. Two new results are presented related to the accounting liquidity of the firm. First, the preference for equity is increasing with liquidity as suggested by the window of opportunity hypothesis. Secondly, the market response to equity issuance announcements is inversely related to the liquidity of the firm. Profitability and growth measures support Jensen's (1986) agency cost of free cash flow as a potential explanation for the second finding.     

适配农村城镇化进程的最优金融结构理论研究．

一个实体经济体的最适配金融结构,内生决定于该实体经济的禀赋特性。从经济结构内涵而论,劳动力就业结构的转换、农村要素禀赋的提升以及产业结构的调整,构成农村城镇化的重要禀赋特性,小企业和新创办企业是农村城镇化中经济结构调整的主要动力。从金融交易特征观察,农村城镇化聚集了众多小企业成长所引致的异质性融资需求,与之相关的金融契约,有别于现行的二元金融系统,其资金需求规模小,企业家风险突出,这决定了适配农村城镇化的金融制度,不可能在现有二元金融系统中单独依靠对某种金融机构的改造而确立。为加速农村城镇化进程,有必要建构“区域性”的“政策导引的商业金融系统”,其核心价值在于对小额信贷的风险甄别功能。     

会计政策选择的契约动因研究--来自我国上市公司低值易耗品摊销方法选择的经验证据

会计政策的可选择性为企业真实反映经济业务实质创造条件的同时,也为企业管理当局操纵会计盈余提供了机会.分析和检验会计政策选择的动因对企业会计准则的完善与企业会计行为的监管均具有十分重要的现实意义.本文以低值易耗品摊销方法选择为切入点,选取符合我国企业特征的契约变量,运用均值检验和Logistic回归方法对低值易耗品摊销方法的选择动因进行了实证检验,结果证实了实证会计理论中的政治成本假设和报酬契约假设.     

Financial Statements and Positive Accounting Theory: The Early Contribution of Aldo Amaduzzi

This paper examines some of the accounting ideas that were developed in the late 1940s by an Italian professor, Aldo Amaduzzi, with regards to positive accounting studies and the content of financial statements. The paper briefly reviews the aim, methodological assumptions and key findings of the so-called 'positive accounting theory' based on the works of the Rochester school of accounting. A content analysis of the early work of Amaduzzi, in relation to his view that the contents of financial statements can be seen as the equilibrium outcome of a conflict of interests between corporate stakeholders, shows that many of the methodological issues on accounting theory stressed by the 'Rochester school of accounting' were raised by Amaduzzi (1947, 1949). The paper concludes that although some key differences between the two approaches do exist, Amaduzzi may be considered as a forerunner of positive accounting theory.