我国中小企业正确选择投融资服务机构问题研究

资金是企业持续发展的推动力.一个企业从创立、生存、发展到成熟,必须以投入、保持和再投入、再保持一定数量的资金作为前提,可以说,融资贯穿于企业的运行和发展的全过程中.我国中小企业平均寿命仅为2.9年,每年约有30%的中小企业倒闭,这其中有62%是因为融资问题得不到解决而引起的.因此,正确选择投融资服务机构是企业健康成长必须面对的问题.     

在国际工程市场如何选择保险经纪

工程保险的险种、投保程序、保单内容等十分复杂,不仅需要耗费承包商大量的精力,而且不易得到优惠的保险条件和价格。虽然现在很多中国承包商已经意识到保险在工程风险管理中的重要地位,但在保险索赔中仍然会遇到很多困难。本文作者建议承包商采用国际通行的办法,即聘请保险经纪或保险咨询公司做顾问来解决上述问题。     

基于会计环境特征的会计准则制定导向选择

近年来,我国的会计准则建设取得了巨大成就,以2006年颁布的新的企业会计准则为标志,我国的会计准则已初步与国际会计接轨。新会计准则执行一年来,其效果受到理论与实务界的普遍关注,又一次兴起了对会计准则的制定导向的讨论,它既是一个理论问题又是一个实践问题,如何选择合理的会计准则导向,不仅关系到会计准则的质量,而且直接关系到会计准则的推广应用。笔者在对我国会计环境特征进行实际调查的基础上,提出了选择会计准则制定导向,必须充分考虑我国的会计环境特征,进而提出了应采用规则导向基础上的原则导向的观点。     

如何正确运用传统合同

编者按:在国际工程承包市场经营的过程中,合同有着众所周知举足轻重的作用.多年来业界同仁及本刊作者与读者对合同的讨论不断发展常议常新.从这一期起,我们又特别邀请了英国西英格兰大学的孟庆海先生分几期讨论合同的问题,内容涉及传统合同、设计建造合同、管理合同和合同中的伙伴关系.敬请垂注.     

How not to measure sustainable value (and how one might)

Sustainability is a complex multidimensional concept that entails economic, environmental, and social aspects. The sustainable value (SV) method developed by F. Figge and T. Hahn [Ecol. Econ. 48(2004) 173-187] is one of the most promising attempts to measure sustainability performance of firms. SV measures corporate contributions to sustainability by valuing resource use based on the opportunity cost, which must be estimated. This paper critically examines Figge and Hahn's estimator for opportunity cost, and shows that the proposed estimator rests on a number of strong, unrealistic assumptions. Evidence from Monte Carlo simulations conducted by authors shows that the proposed estimator performs very poorly even under ideal conditions. Having identified shortcomings in the SV method, we review some econometric approaches with a proven statistical foundation, which might be usefully applied in the present context.     

Limited liability and the underlying-asset constraint: on the use of share-derivative contracts to resolve agency problems

The issue of whether agency problems can be resolved by using standard derivative contracts continues to interest students of incentive structures of organizations. In this paper, we identify under limited liability a necessary and sufficient condition for standard share-derivative contracts to resolve moral hazard problems. This condition is remarkably simple: in addition to having large enough expected profit, the insiders of the firm must be able to hold combinations of call and put options in excess of the available underlying assets. Feasibility of delivery makes this condition not credible in the capital markets. Therefore, to circumvent this constraint one must have resort to private arrangements. This explains why incentive contracts often involve elements such as bonuses, penalties, and promotions, that are not able to be mimicked by standard derivative contracts.     

如何利用事件营销建立企业品牌形象

事件营销是一种比较常用的营销方法,运用得当可以达到新闻效应、广告效应、形象宣传以及品牌形象的建立.在内容的设定上可以美女策略、情感策略、新闻热点策略、争议策略、公益策略、名人捆绑策略、猎奇策略、反常规策略等达到营销目标.以其创新性、收效快、以及低成本而见长.在实际的运作过程中做得好叫创意,也有的企业会做不下去,甚至起反作用的.需要健康有序才可发挥其在企业品牌形象中的促进作用.     

How (Not) to Foster Innovations in Public Infrastructure Projects*

The government wants an infrastructure‐based public service to be provided. First, the infrastructure has to be built; subsequently, it has to be operated. Should the government bundle the building and operating tasks in a public–private partnership? Or should it choose traditional procurement (i.e., delegate the tasks to different firms)? Each task entails unobservable investments to come up with innovations. It turns out that, depending on the nature of the innovations, bundling can either stimulate or discourage investments. Moreover, we find that if renegotiation cannot be prevented, public–private partnerships might lead the government to deliberately opt for technologically inferior projects.     

Learning to choose a commodity-money: Carl Menger's theory of imitation and the search monetary framework

This paper studies Carl Menger's theory of the emergence of a commodity money. We propose an interpretation of Menger's learning by imitation process based on the search theoretical formal framework. We show that there exists a tension between the importance of intrinsic properties of commodities and the pure conventional self-fulfilling expectations of agents. This confirms the role of imitation in the emergence of monetary equilibria in search theory. We conclude that Menger's approach may support the idea that the fundamental property of a commodity-money (namely its great liquidity) is the result of its emergence process and not necessarily of its original intrinsic properties.     

How to suppress a lead

According to the findings of Schöler (1994)¹ the “Business Climate” developed by the ifo Institute for Economic Research, Munich, cannot be used as a leading indicator for business cycle forecast. This paper shows that this result is due to Schöler's choice of statistical methods applied: apart from generating stationary time series, Schöler's filter systematically suppresses the business cycle components and amplifies the irregular components. It impairs the basis for the causality test.