高校潜在财务风险及其管理研究

高校潜在财务风险是指在基建、维修及大额采购等活动中形成的没有进入高校账簿体系的负债可能引起的支付风险,其形成的根本原因是现金收付实现制、教育事业经费和教育基建投资分离核算及校企不分的制度缺陷,诱因是高校事业收入的季节性与支出刚性的矛盾,关键是管理层任期内经济责任意识淡漠。加强对潜在财务风险的预警和防范,应改革基建会计核算制度,实行“权责发生制”;建立编报合并会计报表制度;完善项目预算辅助账,监控账外债务的变动情况;建立财务风险责任制;引进社会力量改革校办产业。     

世界经济失衡与资本失衡：基于《资本论》的视角

当今世界经济处于失衡之中,而在众多关于世界经济失衡的解释中,只有马克思主义的观点才真正抓住了失衡的本质。文章以马克思的《资本论》为基础,从探讨资本失衡导致世界经济失衡的过程出发,对资本在全球的积累、配置、流动、竞争和要素分配进行了分析,认为资本的失衡是世界经济失衡的本质原因,资本在全球的积累、配置、流动、竞争和要素分配的失衡导致了世界经济的失衡,从而勾勒出资本失衡导致世界经济失衡的全过程。     

《经修正的京都公约》的修正机制及公约未来走向分析——《经修正的京都公约》全面审议中的条约法问题研究之一

当前WCO对《经修正的京都公约》全面审议工作是国际海关制度领域二十年一遇之事,我国有必要充分认识公约及其全面审议的重要性,以谋长远。《经修正的京都公约》实际上是一个公约群,其中主约是整个公约存在与运行的基础,也决定了公约修改的难易程度。正确认识公约主约及《修正京都公约的议定书》的重要性,正确认识公约管委会职能范围及其与WCO的关系,是我国把握公约全面审议的合法性及其进程的关键。《经修订的京都公约》主约规定了公约修正采用“分类提案、分类修正、分类表决、分类接受”的机制。对比1973年《京都公约》和1999年《经修正的京都公约》的发展更替过程,可发现《经修正的京都公约》是新条约,而非原1973年《京都公约》的延续。因此,当前在现行公约框架下,虽然全面审议工作完全实现目标的可能性不大,公约修正案难以完全生效。但谈判各方可以在现行公约框架下修正公约,以另一新公约替代1999年《经修正的京都公约》,或者将工作报告文本的内容转化为WCO软法性工具或文件。但无论如何,全面审议工作的成果,即使是局部成果,仍然将影响此后20年全球海关法律制度的发展路径与具体内容。     

风险、激励与监管:ISDS仲裁员的身份冲突及其化解

ISDS仲裁员具有较为明显的身份特征、地域来源及性别特征。为解决投资仲裁员分布不平衡的问题,ICSID已开始尽量选择女性仲裁员或来自发展中国家的仲裁员。当事方指定仲裁员的天然争论以及仲裁员多种身份的重复交互,导致了仲裁员之间的感知风险、妥协风险以及偏见风险。扩大仲裁管辖权和维持ISDS体系的利害关系是对仲裁员的两大主要激励路径。不同当事方在ISDS中选择仲裁员时存在不平等信息或信息不对称的问题,导致仲裁员信息灰色市场的产生,影响ISDS仲裁程序。仲裁员及时彻底披露其与当事方的关系和潜在的冲突对保障仲裁员的独立性和公正性至关重要。仲裁员的双重身份易产生争论点冲突,从而引发正当程序的问题。披露可能产生合理怀疑的情况并制定仲裁员的行为守则可一定程度上消除这种冲突。     

上市公司治理及其对会计信息质量的影响研究

公司治理机制与会计信息质量两者密不可分、相互影响。公司治理机制能否有效运行取决于会计信息质量的高低,会计信息的有效性保证了公司治理机构的有效运行。会计信息质量被许多因素所牵制,但其根本原因在于公司治理结构存在问题。上市公司应对股权结构进行改革,充分发挥各层股东对公司经营层的监督作用;加强董事会功能,保证董事会的独立性,,增加独立董事在公司的比重,加强董事会的战略管理能力和责任范围;改进股东大会投票表决制度,促进股权改革的多元化,避免大股东全权控制的现象,扩大被选举对象范围,完善实施细则,保障累积投票制度的能够贯彻落实;加强监事会建设,明确监事会的权利义务,将监事会与独立董事的权利范围合理划分。     

What moves the tail? The determinants of the option‐implied probability density function of the DAX index

In this article a study of the option‐implied probability density function (PDF) of German stock returns is presented. The use of option prices allows for the quantification of the risk‐neutral probability of large movements in the DAX index. Using daily data for the period from December 1995 to May 2002, the mixture of log‐normals specification with a constant maturity of 49 days is estimated. The time series behavior of the option‐implied PDF during episodes of market turbulence is discussed at the outset. The main purpose of the study is to consider the relationship of summary measures of the option‐implied PDF to macroeconomic news, information from the U.S. stock market, and risk premia. The results suggest the existence of a significant spillover from the U.S. stock market. Returns and the volatility of U.S. stock prices have a strong effect on changes in the lower DAX tail probability, but also on the higher moments of the option‐implied PDF. © 2005 Wiley Periodicals, Inc. Jrl Fut Mark 25:515–536, 2005     

How Do Managers Make Teleological Evaluations in Ethical Dilemmas? Testing Part of and Extending the Hunt-Vitell Model

A study involving purchasing managers was conducted to test specific Hunt-Vitell theoretical propositions concerning the determinants of managers' teleological evaluations. We extended the Hunt-Vitell model by developing a new integrative construct, namely the desirability of consequences to self versus others. We hypothesized that desirability of consequences affects teleological evaluations in that the more desirable the consequences of a particular action, the more likely managers evaluate that action positively. The results of the present study provided support for this hypothesis. Furthermore, we extended the Hunt-Vitell model by developing a new integrative construct, namely the desirability of consequences of self versus others. We hypothesized that cognitive moral development moderates the relationship between the desirability of consequences of self versus others and teleological evaluation. The results failed to support this hypothesis. We explained the lack of support in terms of the level of aggregation of the data, the possibility of the confounding effect of respondents' sensitivity to ethical issues, and the possibility that deontological evaluations confounded the respondents' teleological judgments. Future research and managerial implications of the findings were also discussed.     

The Process of Fit Between the Contingency Factors of the Environment and the Structural Design Parameters

Abstract

This paper, using a sample of 150 Spanish companies of large size, aim to corroborate the postulates determined by the contingency models regarding the relationships between the organisational environment and structural design parameters. Our basic aim is to establish the different relative importance of each of the elements characterising the environment to the design parameters. The results obtained show that the first relation to be clearly observed is that between level of complexity of the environment and the degree of organicity of the structure. However, such an evident relationship is not observed between the degree of dynamism of the environment and the level of organicity. As for the relation between degree of hostility of the environment and the design parameters analysed, the contingent hypotheses that predict that the degree of centralisation of the structure increases with the hostility of the environment are confirmed.     

略谈现代企业的文化建设

现代企业管理理论认为,企业管理过程就是企业文化的培植过程,企业的文化建设就是企业的现代管理。建设企业文化的意义在于企业文化的核心是强化以人为本的现代企业管理,它倡导领导者掌握企业“人”的思想,发挥“人”的主观能动性,推动企业的快速发展,它是企业在市场竞争中独特战略和风格的体现。优秀的企业文化会促进企业管理现代化,促进企业可持续战略的实现。应以人为中心,实现企业管理的人本化,强化文化建设的创新意识,把企业文化建设制度化、规范化,从根本上提升企业的管理水准,实现企业的战略目标。     

中国社会经济政策调整

本文认为,实现科学发展与社会和谐以及为此而进行体制改革和制度建设,是中国当前乃至整个现代化建设时期社会经济政策的主调。中国经济和社会在发展的潮流中,也面临着许多成长中的烦恼,如资源和环境制约,发展不平衡,社会发展滞后,社会矛盾比较突出。能否实现科学发展与社会和谐,在稳定的社会环境中推进现代化建设,是中国面临的挑战。为了解决经济和社会发展中的突出矛盾和问题,中央提出两大战略思想:一是贯彻落实科学发展观,二是构建社会主义和谐社会。这是发展理念的进步,也标志着政策调整的方向。文章指出,促进科学发展与社会和谐的政策导向,将更加注重可持续发展,更加注重支持落后地区和农村发展,更加注重社会发展,更加注重社会公平,更加注重制度建设。科学发展与社会和谐既是发展理念和政策目标,也是不断实践的过程,不同发展阶段应该有不同的要求。中国实现科学发展与社会和谐,符合世界各国人民的共同利益,也将会对世界和平与发展作出更大的贡献。     

Hidden costs of consumption

Consumers often underestimate the costs resulting from their consumer decisions. This is especially the case when purchasing durable consumer goods, but also for recreational activities, for which e.g. athletic equipment is bought. A similar situation exists when pets are kept. This disregard for the costs of subsequent use connected with the purchase of household appliances is problematic for consumers. In a study on the usage life of consumer goods¹ in the household, it was recognized that many consumers do not pay attention to these subsequent costs. The decisive consumer problem was not the durability of consumer goods, nor their tendency to become defective, but the resulting costs of the purchase, the operating costs of household appliances. On one hand, the working expenses are not considered at the time of purchase and their effect is not included in the purchase decision. On the other, the operating costs vary greatly, depending on the chosen type and model of appliance and, of course, on the specific form of utilization. In this paper, the question of the durability of consumer goods is first discussed with the help of empirical work. Then the hidden resulting costs, i.e. operating costs or costs of usage of consumer goods, are described. The resulting costs of keeping pets are also discussed. In the final part, the question of objective help for the consumer making purchase decisions is discussed.     

Incomplete global integration and regional knowledge-intensive service industries

This article presents the results of a postal questionnaire to 62 award-winning hotels in the United Kingdom. An examination of the methodology employed and the response rate is followed by an analysis of the operating profile of the hotel, and the personal background of the operators. Hoteliers define the determinants of service quality and how they monitor the quality of their service provision. An evaluation of the qualitative award schemes shows the importance of the awards to the hotelier and how he perceives them as a recognition of service quality. The final section considers the promotional value of each award, indicating resultant levels of activity.     

嫖宿幼女罪司法适用的路径探析

奸淫幼女型强奸行为与嫖宿幼女行为是两类不同性质的行为,前者是“缺乏有效性同意”的奸淫行为,而后者是建立在“有效性同意”基础上的钱色交易行为。刑法规定嫖宿幼女罪的目的在于对以幼女为对象的卖淫嫖娼行为的否定,以凸显刑法对失足幼女的特殊保护。在司法实践中。嫖宿幼女罪的认定应当以卖淫嫖娼行为的认定为前提,以幼女因素的介入为基础,并根据案件情况准确把握“钱色交易”的行为本质。当前嫖宿幼女罪司法适用面临的困境完全可以在解释论的维度加以解决,而无需诉诸立法。废除嫖宿幼女罪的观点是对该罪罪质和法定刑的错误解读,立足于解释论廓清该罪与强奸罪的关系才是当下司法实践亟待解决的问题。     

The Influence of Green Innovation Performance on Corporate Advantage in Taiwan

The purpose of this study was to explore whether the performance of the green innovation brought positive effect to the competitive advantage. This study found that the performances of the green product innovation and green process innovation were positively correlated to the corporate competitive advantage. Therefore, the result meant that the investment in the green product innovation and green process innovation was helpful to the businesses. This study argued that the businesses should cognize the correct value and positioning of the green innovation.Dr. Chen is the assistant professor in the Department of Business Administration in National Yunlin University of Science & Technology in Taiwan. His research focused on management of technology, innovation management, corporate environmental management and intellectual capital. Dr. Lai is the professor in the Department of Business Administration in National Chengchi University in Taiwan. His research focused on management of technology, new product development and operation management. Dr. Lai is also the legislator in Taiwan. Dr. Wen is the professor in the Graduate Institute of Technology and Innovation Management in National Chengchi University in Taiwan. His research focused on corporate environmental management, marketing management of technology and entrepreneurship management. Dr. Wen is also the head of the EMBA (Executive MBA) program in the College of Commerce in National Chengchi University in Taiwan.     

新冠肺炎疫情下逆周期信贷政策效用研究：基于企业资产负债表渠道与银行风险承担渠道视角

文章以对冲COVID-19疫情影响的逆周期信贷政策实施作为“准自然实验”，运用PSM-DID模型，测度逆周期信贷政策对实体企业经营效率的影响(简称“逆周期信贷政策效用”)，考察其企业资产负债表渠道与银行风险承担渠道的微观传导机制及路径，分析逆周期信贷政策效用的异质性。研究发现，逆周期信贷政策的实施显著修复了实体企业的经营效率，并具有随时间动态边际递增特征。同时，该政策具有“双渠道”传导特点，主要通过调节效应路径发挥作用。此外，该逆周期信贷政策效用受到企业性质、行业及区域的异质性影响。文章研究结论不仅拓展了现存文献，也为完善逆周期信贷政策设计和调控机制提供了决策参考依据。     

高管薪酬存在同伴效应吗？

以2007—2017年间沪深A股非金融类上市公司为研究样本，重点探讨了高管薪酬同伴效应的存在性、情景因素以及经济后果。研究发现，高管薪酬同时存在行业和区域同伴效应。而且，上述薪酬同伴效应在环境不确定性程度和非国有控股程度高的公司中更为显著。此外，高管薪酬同伴效应与企业发展的关系因时而异，即短期内可促进企业的发展，但中长期则抑制了企业的发展。进一步发现，模仿是解释薪酬同伴效应的内在逻辑。另外，薪酬同伴效应降低了薪酬业绩敏感性。研究不仅在理论上丰富了高管薪酬的研究内容，同时为高管薪酬方案的制定以及同伴效应外部性的运用提供了指导和借鉴。     

Discretion and accountability: An economic analysis of the ESMA judgment and the Meroni doctrine

This paper assesses the effectiveness of the Meroni doctrine in the light of the recent judgment in the ESMA case. The fi rst part explains in detail the problem of delegation of powers in the EU from the perspective of the principal-agent theory and complements it with the analysis of the trade-off between different levels of independence and accountability of agencies. A simple economic model is developed to illustrate the relationship between the independence and accountability of an agency. It shows that it is the accountability mechanism that induces the agent to act, rather than the extent of his independence. The paper also explains the intertemporal interactions between the principal and the agent on the basis of the incentives in place for the different players.     

诚信培养和企业文化建设

本文认为,建设企业文化是在企业中培养诚信意识的重要杠杆,诚信价值观应是企业文化的重要组成部分。诚信是理念、是道德、是制度、是形象。企业文化建设的核心是共同价值观的培育。企业诚信的前提也是共同价值观的确立;企业文化建设的杠杆是制度建设,企业诚信的维护要靠制度保证;企业文化建设的亮点是形象塑造,企业诚信是企业形象的最大亮点。企业文化三个层面的建设都涵盖着企业诚信的培育,建设企业文化。培育企业诚信应成为当前我国企业的重要工作。     

“排”不掉的“他”：企业赞助溢出效应研究

通过排他条款保护赞助权益是赞助商最为关注的问题,但是排他条款难以实现赞助商独占赞助权益却是无法回避的现实问题。文章在赞助研究领域引入溢出效应理论,研究企业赞助对竞争品牌溢出效应的形成机制。结果表明,品牌进行赞助时,可能产生溢出效应,改变消费者对竞争品牌的评价;同时,与事件质量较低时相比,事件质量较高时,赞助事件质量对竞争品牌的溢出效应更大;另外,与赞助企业代表性较高时相比,赞助企业代表性较低时,赞助事件质量对竞争品牌产生的溢出效应影响更大。文章从溢出效应的角度拓展了企业赞助理论,回答了排他条款难以“排他”的理论机理,对企业开展赞助营销实践具有理论借鉴。     

美国储蓄不足和全球储蓄过剩是美国贸易逆差产生的根本原因

美国贸易逆差以及主要由贸易逆差造成的经常帐户赤字已成为世界经济关注的热点问题。对美国贸易逆差产生原因的解释众多,本文以主流经济学分析框架得出美国储蓄不足是美国贸易逆差的根本原因的结论。美国国内储蓄不足导致外国资本的流入。外国资本一方面为美国提供了购买力,补充了美国的储蓄,另一方面,美国可用外国提供的购买力进口产品,满足自己的需求。美国的贸易逆差是其储蓄不足的结果。从全球视角出发,其他国家的储蓄增加,为美国补充了储蓄,为美国贸易逆差的产生提供了外部条件。认识美国贸易逆差产生的原因,可以更有利地支撑美国贸易逆差与中国对其贸易顺差没有根本联系的观点,及人民币汇率问题不是美国贸易逆差根本原因的观点。