浅谈建设项目全过程审计

章阐述全过程审计的含义、意义及其在各个阶段的具体操作。     

A Simple Method for Calculating the imin Rate for an Investment Project

The i_min rate of an investment project is the smallest rate such that all the intermediate balances of the project have the same sign or ore null. This rate is mainly used to determine whether an investment project is a pure or a mixed investment project. In this technical note we point out that as i_min is the greatest internal rate of return among the ones of pure truncated projects and since no eventual mixed truncated project can have a root with a value greater or equal to i_min , we then can easily obtain i_min by appropriate use of standard internal rate of return computing routines.     

国有大中型企业产权多元化改革研究报告

产权多元化是指由诸多要素所有者将其产权分解组合之后形成的产权集合。企业的产权多元化意味着企业财产不再由单一出资者投资而成，而是众多出资者投资的组合。多元的产权主体通过外部完善的市场体系和内部健全的组织结构来监督经营者的日常经营活动，使经营者的经营不至于过大地偏离所有者的目标。这种机制是现代公司的生命力之所在，是企业制度的一项重大创新。     

The Effects of Changes in Property Tax Rates and School Spending on Residential and Business Property Value Growth

In this article, we examine the effects of changes in property tax rates and school spending on residential and business property value growth in southeast Michigan. We use panel data for 152 communities in the five counties surrounding Detroit between the years 1983 and 2002, a period during which state government mandated major changes to school finance. Using the mandated changes to identify causality, we find that: (1) residential property values are more responsive to school spending changes than property tax rate changes; (2) business property values are more responsive to tax rate changes than school spending changes; and (3) business property values are more sensitive to changes in tax rates as compared to residential property. We also examine tax competition effects on property value growth, showing that tax competition plays an important role in property value growth in the southeast Michigan region.     

水中COD测量不确定度的评定

建立了水中COD测定的不确定度模型,并给出了各不确定度分量的灵敏度系数。从模型可见影响COD测量不确定度值的主要因素来自于硫酸亚铁铵浓度、水样滴定消耗硫酸亚铁铵、空白滴定消耗硫酸亚铁铵和水样移取等引进的不确定度分量。计算了各不确定度分量值并给出了扩展不确定度。     

Using Bayesian methods in strategy research: an extension of Hansenet al.

Hansen, Perry, and Reese ( 2004 ) recently argued for and demonstrated the utility of Bayesian methods for research associated with the resource‐based view (RBV) of the firm. In this paper, we propose that Bayesian approaches are highly relevant not only for strategy problems based on the RBV, but also to its extensions in the areas of dynamic capabilities and co‐evolution of industries and firms. Further, we argue that Bayesian methods are equally applicable for a wide range of strategy research questions at both the micro‐ and macro‐level. Bayesian techniques are especially useful in addressing specific methodological challenges related to firm‐ and individual‐level effects, firm‐level predictive results, precision with small samples, asymmetric distributions, and the treatment of missing data. Moreover, Bayesian methods readily permit the engineering and updating of more realistic, complex models. We provide a specific illustration of the utility of Bayesian approaches in strategy research on entry order and pioneering advantage to show how they can help to inform research that integrates micro‐ and macro‐phenomena within a dynamic and interactive environment. Copyright © 2006 John Wiley & Sons, Ltd.     

简析炼厂为增产液化气的结构调整

液化气市场需求强劲助附加值高,是炼厂调整产品结构的主攻产品,通过对镇海炼油化工股份有限公司液化气生产状况进行了分析,提出了针对性的增产措施和建议 。     

试论内部审计在国有企业经营管理中的作用

国有企业全面地进行资本重组、公司改造、现代企业制度建设,为的是更好地参与市场竞争。我们知道,要想在惊涛骇浪般的国内国际市场竞争海洋中搏击取胜,必须拥有＂强健的体魄＂,良好的内在素质。国有企业内部审计作为企业自我控制、自我监督、自我约束、自我协调的职能机构,在现代国有企业中显示着愈来愈强大的生命力与广阔的发展空间。笔者在国有企业从事审计工作多年,就审计工作中遇到的问题和工作中取得的经验,探讨国有企业内部审计存在的前提、内部审计的职能,结合审计实例进一步分析了内部审计在企业经营管理中的重要作用。     

A Measure of Fundamental Volatility in the Commercial Property Market

The low level of volatility observed in appraisal-based commercial property indices relative to other asset classes has been frequently noted and extensively commented on in the real estate finance literature. However, the volatility of such commercial property indices is only one source of information on the second moment of commercial property returns. The volatility of securitized property returns forms another potential source of information, though there is some uncertainty about how closely the volatility of securitized returns may match the volatility of the underlying asset. Each measure of volatility has a potential source of noise associated with it. This paper proposes a fundamental measure of volatility for the commercial property market by using a stochastic volatility model to filter out the signal in the different sources of volatility information. This allows for different measures of volatility to be decomposed into transitory noise and unobserved fundamental volatility. The suitability of such an approach and the properties of the underlying fundamental volatility series are analyzed using data from the U.K. property market.     

Using Copula Functions in Bayesian Analysis: A Comparison of the Lognormal Conjugate

Bayesian techniques have been applied to analyze sequential investment decisions in the capital budgeting literature. This article introduces copula-based Bayesian analysis as an alternative to the traditional approach where conjugate relationships do not exist. Using a numerical example, we illustrate the steps involved in the copula-based Bayesian approach. Graphical techniques for selecting an appropriate copula are also discussed. The unique ability of copulas to model nonlinear dependence rationalizes the use of copula functions as an alternative technique.     

股份制石油企业增加值核算方法探讨

从建国到改革开放初期，我国国民经济核算采用的是前苏联、东欧国家的物质产品平衡表体系(MPS)、核心指标是国民收入，反映的是物质生产。改革开放后，非物质性服务业获得了迅速发展，并在国民经济中发挥越来越重要的作用。随着1998年石油行业重组改制和2000年股份公司改制上市、股份制石油企业的管理体制、运行机制、经济关系和会计核算方法等都发生了重大变化，对增加值这一重要经济总量指标的核算方法进行研究已迫在眉睫。增加值有三种核算方法：一是生产法，二是收入法或分配法，三是支出法或最终使用法。文章结合石油企业的实际，着重讨论了前两种核算方法，包括基本原则、计算公式、主要指标、资料获取，以及对生产法和收入法增加值计算结果不等的处理。     

Housing Tenure in a Model of Consumer Choice: A Simple Diagrammatic Analysis

The paper begins with a general model of demand for housing in an intertemporal utility maximization framework. Under standard assumptions the consumer is indifferent between owning and renting. Relaxation of various assumptions would explain tenure choice, but this is mathematically complex. As an alternative, a diagrammatic model of consumer choice over one period is presented which shows the effects of income, savings, housing and other prices, mortgage interest rates, rates of return on alternative investments, and tastes. Again under standard assumptions the consumer is indifferent about housing tenure. The effects on tenure choice of a change in the assumption about the availability of mortgage credit, rates of return on alternative investments and income taxes are demonstrated.     

企业领导者的新角色——组织价值观的塑造者

组织价值观对当前企业的成功十分重要。面对这一情形，企业领导者有必要扮演塑造组织价值观的角色。本文在论述领导者塑造价值观的必要性的基础上，进一步阐明了领导者如何扮演这个角色，即塑造什么价值观和如何塑造价值观的问题。     

Real Estate in an ALM Framework: The Case of Fair Value Accounting

This study examines the liability hedging characteristics of both direct and indirect real estate with the advent of fair value accounting obligations for pension funds. We explicitly model pension obligations as being subject to interest and inflation risk to analyze the ability of real estate investments in hedging the fair value of pension liabilities and to quantify its role in an asset liability management (ALM) portfolio. We find that the portfolio composition differs depending on the definition of liability return. When liability returns solely follow actuarial changes, the mean‐variance efficient portfolio allocations toward direct real estate and fixed income decrease compared to the asset‐only optimization. When accounting for nominal liability obligations, real estate offers hedging benefits against interest rates for short holding periods but not for long‐term institutional portfolios. The inclusion of inflation risk renders a limited role for direct real estate in an ALM portfolio, while indirect real estate obtains no allocation. Inflation is at the heart of the discrepancy between reported and predicted pension plan allocations. Once accounting for inflation, the projected allocations come close to reported ones.     

管线用焊接钢管理化性能取样简析

结合了近期管线技术规范的发展,阐述了不同的管线标准对于理化试验取样的不同要求,根据标准要求提出了焊管的实际生产中可行的理化试验试样的取样方法。     

工业用苯乙烯纯度测定方法的探讨

探讨了苯乙烯纯度分析的方法，分析了在苯乙烯纯度测试过程中的各种影响因素，从中可以看出采用毛细管柱（尤其是大口径毛细管柱可以在要求准确，快速的常规中控分析中采用归一化法代替内标法进行定量，这在实际工作中有着非常重要的意义。     

Value creation in acquisitions: A re-examination of performance issues

This study provides a conceptual framework and an empirical methodology to assess the extent of value creation in acquisitions. Arguments are presented to examine why related acquisitions might not outperform unrelated acquisitions on average. New measures of value creation are developed which resolve the difficulties with measures used by earlier researchers. In addition, the influence of the classification scheme used to identify acquisition types, and the impact of the relative size of the target to the bidder, on the measurement of the extent of value creation, is examined. The empirical results indicate that value is created in both unrelated and related acquisitions. Further, the data do not appear to indicate that related acquisitions create more value than unrelated acquisitions on average.     

Determination of an order-up-to policy in the stochastic economic lot scheduling model

We consider a production–inventory problem with compound renewal item demand. The model consists of stockpoints, one for each item, controlled according to (R,S)-policies and one machine which replenishes them. The replenishment orders are produced with a fixed rate on the machine with significant setup times and costs, which are stochastic and sequence dependent. The time between the release and the production of the replenishment order is called the waiting time. We develop analytical approximations for the first two moments of this waiting time, the order-up-to levels and the average physical inventory levels for all stockpoints, given the target fill rates. These analytical approximations allows for a quick evaluation of the waiting time which is important when optimization of the system is considered.