阿根廷债务危机之困

8月8日凌晨,阿根廷政府传来消息,表示已经在海牙国际法庭就阿根廷主权债务问题提起诉讼,要求对美国采取司法行动。这是自7月30日,阿根廷政府与＂秃鹫基金＂围绕债务违约进行的最后一轮谈判以失败告终,导致该国陷入违约境地以来,阿根廷政府与拒绝接受债务重组的债权人之间长期争议的最新发展。     

债务重组业务的会计处理

<企业会计准则第12号-债务重组>规范了债务重组的确认、计量和相关信息的披露.本文阐述了各种债务重组方式下债务重组的确认和计量,并综合举例说明债务人和债权人的会计处理.     

对新债务重组准则的再思考

为了使会计更好地服务于我国的经济发展,更好地参与国际竞争,我国债务重组准则的制定经过了一个反复的过程。笔者简要分析了我国债务重组准则的演进过程,对新债务重组准则中有关债权人的会计处理提出了自己的看法。     

债务重组业务的会计处理

《企业会计准则第12号—债务重组》规范了债务重组的确认、计量和相关信息的披露。本文阐述了各种债务重组方式下债务重组的确认和计量,并综合举例说明债务人和债权人的会计处理。     

不同混合重组方式下债务重组的会计处理

混合重组方式是指以两种及以上的债务组合的形式进行的债务重组。本文对同一例题采用不同的混合重组方式进行会计处理,以便于读者在学习时比较分析,把握其会计处理的要点及规律性.     

新旧债务重组准则分析比较

本文就我国<债务重组>准则修订的合理性进行分析,阐述了笔者对新会计准则意义的理解,并探讨了执行新准则将对企业财务产生的影响.     

债务重组会计处理浅析

新准则对债务重组业务的内涵进行了重新界定,从范围上看窄于旧准则。新准则指出,债务重组是指在债务人发生财务困难的情况下,债权人按照其与债务人达成的协议或法院的裁定作出让步的事项。实质上债务重组是债务人通过支付低于重组债务的账面价值的对价来抵消债权。     

对债务重组税费核算的几点思考

现行会计准则下债务重组中涉及的相关税费应遵循实质重于形式原则进行核算,根据税费承担者及债权人取得抵债资产后的持有目的,将其分别计入相关损益或资产成本。     

希腊主权债务危机研究以及对中国的启示

由于处在全球金融危机的时代背景和独特的欧元区经济环境之下,希腊主权债务危机的发生有着自身的特点。对希腊主权债务危机的研究将有助于其他国家防范主权债务危机的发生,对于拥有巨大外汇储备和地方政府债务风险积聚的中国来说,也同样具有积极的意义。     

新债务重组会计准则的几个问题及建议

《企业会计准则第12号—债务重组》在规范会计处理,提高会计信息的质量水平起到了积极作用,但在实务操作过程中仍存在一系列问题。本文对此进行分析,在债务重组的名称、财务界定、资产虚增、公允价值操作等几个方面提出问题并给予相应的建议。     

公允价值会计处理研究——债务重组问题

财政部的1998年、2001年、2006年的企业会计准则对债务重组计量的规定由公允价值到账面价值再回归公允价值。文中集中介绍并对比这三代准则对债务重组的会计处理的规定,重点从公允价值的计量特点入手逐一论证分析其应用于债务重组的合理性,并从实际计量和财务报告方面提出了个人的几点建议。     

会计准则、证券监管规则与盈余管理——基于债务重组准则变迁视角

通过建立LOGIT回归模型分析债务重组准则三次变迁和证券监管规则的历次修订对盈余管理的影响,结果发现会计准则的历次变迁只是影响了盈余管理手段和形式,并没有控制住盈余管理的发生;上市公司大股东和经理层通过合谋进行盈余管理,迎合或规避证券监管规则以保护和利用上市公司壳资源,进而牟取其他利益相关者(尤其是中小股东)的利益,是盈余管理行为产生的直接诱因和根本原因。因此,要制约盈余管理行为,需要改进证券监管规则,协调主要利益相关者的利益。     

COLLECTIVE ACTION CLAUSES IN INTERNATIONAL SOVEREIGN BOND CONTRACTS – WHENCE THE OPPOSITION?

Abstract.  In the debate on strengthening the international financial architecture, which peaked in 2002 after a series of emerging market sovereign debt crises, the universal adoption of collective action clauses (CACs) was the most promising reform proposal. Academics and the official sector had been promoting CACs at least since 1995, yet market practice did not begin to change until 2003. This delay is often attributed to the opposition of investors and sovereign borrowers to CACs. This paper evaluates the publicly stated as well as the suspected private motives of the two sides to block the proliferation of CACs. It draws on a wide range of existing evidence and adds some new theoretical considerations to show that there is no reason to be sceptical of CACs unless bailouts exist as an alternative crisis resolution mechanism. This conclusion may be of interest purely for the sake of historical accuracy. But more importantly, it may help to better understand any potential future resistance by market participants, for example in the process of introducing CACs in bonds governed by German law.     

The UK and the Eurozone: Sovereign Debt Management and Monetary Policy

Events in the wake of the ‘credit crunch’ can be understood only against institutional structures within which interdependent monetary and fiscal policy are administered. In the Eurozone, the attempt to keep a central monetary authority (together with its associated national central banks) independent from 17 diverse fiscal authorities was flawed. When sovereign debt approaches unmanageable levels, the Maastricht Treaty presents austerity as the single option. In the UK, the electorate has an opportunity to choose between monetary financing (inflation) and fiscal consolidation (austerity). Policy choices within the Eurozone and the UK are set against Keynes's focus on unemployment and more recent concerns to retain (or restore) price and/or financial stability.     

Family Business Restructuring: A Review and Research Agenda

Although business restructuring occurs frequently and it is important for the prosperity of family firms across generations, research on family firms has largely evolved separately from research on business restructuring. This is a missed opportunity, since the two domains are complementary, and understanding the context, process, content, and outcome dimensions is relevant to both research streams. We address this by examining the intersection between research on business restructuring and family firms to improve our knowledge of each area and inform future research. To achieve this goal, we review and organize research across different dimensions to create an integrative framework. Building on current research, we focus on 88 studies at the intersection of family firm and business restructuring research to develop a model that identifies research needs and suggests directions for future research.     

债务期限结构研究:文献述评与研究展望

传统的债务期限结构理论不能用来解释制度因素与债务期限结构的关系;从公司治理角度对债务期限结构的研究文献较少考虑多层级控股方式下,终极控制人与债权人之间的代理问题对债务融资期限的影响。债务期限结构的未来研究需要探讨多层级控股方式下企业债务期限结构影响因素问题,此外还需要完善现有的债务期限结构理论及其替代指标。     

Sovereign default risk,debt uncertainty and fiscal credibility: The case of Brazil

Since Credit Default Swaps spreads reflect the sovereign risk and, thus, the uncertainties related to government solvency, the goal of this study is to examine the relation between sovereign risk and debt uncertainty (measured by the disagreement in expectations about public debt) in an important developing country – Brazil. Furthermore, the paper analyzes whether fiscal credibility plays a key role in mitigating the effect of debt uncertainty on sovereign risk. The results suggest the disagreement in expectations about public debt affects the sovereign risk, and fiscal credibility plays a twofold role, it reduces sovereign risk, and it mitigates the effect of debt uncertainty on sovereign risk. Besides, quantile regression estimates reveal that fiscal credibility improvements are even more important when sovereign risk levels are higher.     

《企业会计准则—债务重组》修订前后的差异分析

2006年2月15日财政部颁布了新的会计准则体系,其准则中债务重组部分与2001年修订的存在较大差异,文章就其内容从债务重组的定义、债务重组的方式、债务重组的计量模式以及债务重组的会计处理等4个方面进行新旧债务重组的差异比较分析。