The trust system and ecological civilization:A case study of “green trust”

To promote the ecological civilization has been determined as one of the significant agenda for China’s development strategy. However, the shortfall of funding might hinder the progress. Therefore, new financing resources and channels are urgently required. Trust has been seen as a popular investing and financing instrument due to its comprehensive benefits such as equity restricting, financial independence and continuity, etc. If trust companies provide services to environmental protection and establish "green trust" or "green funds", it would fully widen financing channel of green industry and contribute to China’s sustainable development.     

Accounting Framework to Measure the Environmental Costs and Disclosed in Industrials Companies Case Study of Societe Cement Hamma Bouziane （SCHB） in Constantine

Accounting, being an integrated information system, is not merely influenced by its environment, but also affects environment as well, due to its crucial role in generating the necessary information to decision-makers. It has two main pillars： measuring and declaring the costs that result from the activities of companies, especially industrial companies because they affect the environment. Therefore, the objective of this research is to investigate how well industrial companies are committed to measuring their environmental duties and declaring them in their balance sheets. This topic will be developed over two parts： scientific basis of environmental costs and accounting; environmental measuring and disclosure.     

Analysis of the Competition in China＇s Supermarket Sector

China＇s supermarket sector has been growing with a high rate for ten years. Relying on the advantages of new formats and adapting to the economic change of China, several China＇s supermarket companies have replaced the traditional department stores to become the leading player in retail industry of China. Although the interesting phenomenon shows that although these supermarket companies have the inherent problems of shortage of capital and weaknesses in management, their expansion is more emphasized on sizes and speeds. Being weak in management and over squeezing ,margin from suppliers that might lead their position to be vulnerable. Their market share is taken by different competitors, more notably by foreign giant retailers. Competition will become more fierce and complex. Merging, making joint ventures with foreign investors, expanding into chain and fuU-format retailer, hunting for skillful people would be the key strategic options to keep the sector＇s growth.     

Discussion on the business performance of life insurance industries in Taiwan and Mainland China Application of Metafrontier model

When using the Data Development Analysis method for analyzing the efficiency of different firms, it is common to put all similar DMU together for measurement in order to figure out the efficiency values of various DMU. However, such an analysis may easily neglect the source property of an individual DMU, meaning that the differences among various DMUs derive from different environmental backgrounds, e.g. environment variables such as economic civilization, laws and regulations, and political backgrounds. Applying the Metafrontier model can overcome the barriers resulting from the environment variables, and it can analyze and measure the differences among various DMUs which have different source properties. It can also be used for measuring the difference between each group of DMU and all DMUs. Therefore, this study adopts the DEA method, assuming variable returns to scale to evaluate and comparatively analyze the business performance of life insurance industries in Taiwan and Mainland China based on ＂BBC input orientation＂. When evaluating the business performance, the operating management echelon is affected by uncontrollable external environment variables. Thus, this study applies the Four-Stage Data Envelopment Analysis to discuss the impact of environment variables on business performance and re-measures the business efficiency of life insurance industries in Taiwan and Mainland China after adjusting the input variables. The demonstration period adopted by this study is from 2003 to 2005, and the research subject comprises 43 companies in Taiwan and Mainland China, among which, there are 19 companies in Taiwan and 24 companies in Mainland China, and there are 129 sets of sample data. It is assumed that the discount rate is ？ （）, is set as 3% in this paper）, and figured out the change of each life insurance company in technical efficiency in the inter-period accumulative years from 2003 to 2005.     

Coal price fluctuations and the impact on financial risk Evidence from China＇s coal listed companies

With the rise of coal price, the proportion of loss-making enterprises shows an upward trend in China＇s coal industry. This paper uses Altman Z-Score model to measure financial risk of 19 listed companies in the coal industry in A-share market from 1995 to 2007. Empirical results show that Year-Based price index of coal price has a negative correlation with the financial risk but has no significance, and coal chain price has a significant negative correlation with the financial risk. Further research indicates that enterprises increase bad investment, and a lot of debts caused by short-term rise in coal prices. The results also show that the financial risk in the coal industry declines with the rise of GDP growth rate and increases with the rise of inflation rate.     

New ideas on China＇s Foreign Trade Development Strategy

China has been a leader in export strategy since the reform and opening-up for trade. This has played a positive role in economic development, however, since stepping into a large country economy, entering the.WTO and the current development of economic globalization at a rapid rate, the leading export strategy has already been very difficult to adapt to the daily challenges in export because of the constant changes in domestic and international economic environment. In view of this, China should turn its strategy into one of dynamic comparative advantages with a global competitive strategy, in conformity with big country＇s economy in the economic background of globalization.     

Stock Market： Comparisons of the Achievements of China＇s State-owned Enterprises and Private-owned Enterprises

With China taking its reform and opening policy, the private economy has been developed rapidly now, especially going public. It is discovered that there are two ways of entering China＇s stock market： one is direct listing; the other is indirect listing. Private enterprise studied in this paper excludes state-owned economy. Since 1996 in China, a number of private listing corporations have been going increased year by year, and indirect listing has become the main form of private enterprises＇ access to stock market. In the paper, the author made a substantial evidence analysis on the 53 private corporations, which have entered China＇s stock market by the end of 1998. By means of the SHAZAM regression test analysis, the author draws a surprising conclusion： as far as private listing companies are concerned, state-ownership enterprise＇s efficiency is more satisfied than private ones. This indicates that improving the management of private enterprise has already been on the agenda.     

Reviews of the research on water resources management system at home and abroad

The reform of the system of water resource management abroad has started since the 50s of last century, it has left us a lot of experiences in many aspects with the innovation of system, such as the legal environment in water resources, water rights, water market theory, and the ＂participation＂ management of water resources, these experiences has been promoted in more than 40 developing countries. Based on analyzing the theory and experiences of water resources management both at home and abroad, especially the theory and experiences of agricultural water resources management, this paper puts forward the main problems waiting for further investigation in China＇s water resources management and provides some reference and inspiration for the innovation of the system of water resource management in China.     

China: An Early Test for Obama

Global recessions can bring out the worst in treading partners. Plunging do- mestic demand in both China and the U. S. has left manufacturers in both coun- tries plagued with overcapacity. Ameri- can companies are now accusing their Chinese rivals of dumping products-     

Analysis on financing, investing and operating activities of Target Corporation

The paper analyzes the financing activity, investing activity and operating activity of Target Corporation by comparing with other companies in the same industry. The analysis shows that Target overall is better at meeting it in short-term obligations as well as earning money for its investors. Target is a safe and consistent investment. The company should pay attention to interest rate changes because the company＇s majority of financing charges are based on floating-rate debt obligations.     

英文摘要

A Study on the Relation between Governance and Performance of China＇s Largest Listed Companies
Abstract： In this paper we designed a corporate governance evaluation system and evaluated the 100 largest China＇s listed companies of 2008, in order to provide a new proof of the relationship between governance and performance. The results showed that polarization of corporate governance is significant. Financial listed companies have higher governance level than non-financial companies, and state-owned companies have lower governance level than other types of companies. Empirical analysis showed that corporate governance has a positive impact on corporate performance. The indices of shareholder rights, information disclosure and transparency, and equal treatment of shareholders have significant impact on corporate performance. The results of two stage least squares showed that the endogenous of corporate governance is small;The impact of corporate performance on corporate governance is not significant.     

Management of Foreign Market Entry： A Study of Czech Companies

Internationalization of company activities is the necessity of the development for majority of entrepreneurial subjects in the Czech Republic. Internationalization of entrepreneurial activities becomes a tool of business competitiveness. Selecting the right foreign entry mode is an important decision, which demands a lot of resources and thorough planning. The factors influencing company＇s choice of entry mode are divided into two main groups subsuming--external and internal factors. External factors consist of determinants regarding the company＇s environment while the intemal ones are determined by the company＇s specific factors. The opening of new markets such as in the Czech Republic has created the potential for small and medium-size enterprise （SME） expansion and investment. The objective of this paper is to present an application of the entry modes of the selected Czech entrepreneurial subjects. The companies included in the study are those that have undertaken internationalization activities and are incorporated in the Czech Republic. There were a total of 297 enterprises that participated in the research. The research method was an oral questioning and the main instrument was a questionnaire. A relatively low degree of Czech companies that have undergone intemationalization has resulted in the dominance of the least advanced forms of internationalization expansion, mainly exports with a small share of more advanced forms of foreign direct investments and a very low level of forms of international cooperation. Czech companies are in decision about the choosing the foreign entry mode influenced by the many factors. The greatest influence on the choice of foreign entry mode has entry mode variables. Entry mode variables constitute variables assessment characteristics of particular entry mode.     

英文摘要

On Influence of China＇s Economic Growth on Emission of C02 -Based on Analysis on Time-order Data during 1970-2005 DANG Yu-ting Based on 1970-2005 data, the paper explores the influence of economic growth in China on emission of CO2. The relation between per capita GDP and emission of CO2 in China has a N shape. The proportion of tertiary industry in GDP is in negative relation with the emission, while exporting and importing is in positive relation. In the coming 10 years, the paper foretells that the emission will increase greatly, so China should adjust commodity structure of importing and exporting, further increase efficiency in using energy and adopt strict policies to protect environment     

Credit Checking Market Setting up Gradually in China

This paper describes the present condition of credit checking industry and the market of Chinese, elaborates what has restricted Chinese credit development, presents the possible credit products of current Chinese credit checking market, forecasts the profits of credit checking service in China, and indicates the strategic steps of operation on credit checking service in China. ＂Credit＂ is one of the most popular words in the last two years in China, every thing related to credit will heat up, and the credit management is also becoming a burgeoning industry and comes to front. The development of economy has called for construction of the social credit system, which brings great business opportunities to the credit management agency. Therefore, the government, the industry and the private focus on this wealth dinner. Once deeming it as a great opportunity some far-sighted men bravely begin to take tough practice in the huge market. From then on, some credit management companies have come into being a part of the credit checking agent industry.     

A ＂Paradox＂ in China＇s Environmental Management： An Argument From a Comparative Study on Waste Recycling Policies Between China and Japan

China appears to have a ＂paradox＂ in its environmental management policies. For example, China＇s recycling policies appear paradoxical. With its rapidly expanding economy, China is now the world＇s largest emitter of urban waste. Under such a situation, China is aiming to build up a recycling economy by enacting a number of related laws. Despite the development of waste recycling regulations, however, the load on the environment by continuously increasing waste has not reduced in China so far. What explains this seemingly paradoxical situation of waste recycling in China？ It has been pointed out in the previous study on China＇s climate change policies that environment protection falls under the rubric of sustainable development in China. The question here is whether the same story can be applied to areas other than climate change in China＇s environmental management. This paper examines it in the area of its waste recycling policy. This paper conducts an evaluation of waste recycling regulations in China by comparing it with the experience of Japan, China＇s next-door advanced country. It concludes that the waste recycling regulations in China do not primarily aim at reducing the environmental load by reducing the amount of waste but rather for the main purpose of recycling and reusing resources effectively for the sake of economic development.     

Study on the development and financing of tourist attractions in China

Tourism is one of the important industries in China. It has become China＇s important economic growth point. But from the development of tourist attractions in China, we find that many problems still exist, especially the sources of funds. This will seriously impede the further development of tourism industry. Based on the analysis, related countermeasures have been set forth. And yet the best approach to resolve funding issues is financing.     

Eco-transformation of steel industry in China: from the perspective of industrial ecology and circular economy

Recently the behavior of human has resulted in the deterioration of global ecological environment, and global warming and environmental pollution have caused the occurrence of extreme events frequently If we repeat the reckless environmental overkill, civilization will enter a victous circle of decline and lose even the strength and vitality to live in harmony with the environment. At Present, China is in a speciat period of rapid economic develop- ment. Some enterprises focus on short-term profits and don＇t formulate long-term strategies. For example, with the rapid expansion of the steel industry, some serious problems have emerged. Based on principles of industrial ecology and the concept of circular economy, to develop a new development model, taking a new road to industrialization is very necessary. Re-examining the current steel enterprises, this＇ paper proposes the new methods of the integration of material, energy integration, water system integration and sharing of information and facilities. Through ecologi- calization of technology, system, and industrial structure and product structure adjustment, the eco-transformation of the modern steel industry will be gradually achieved in China     

Analysis of China＇s Logistics Market and the Cooperation in Northeast Asia

In recent years, China＇s logistics market has developed very fast, characterized in demand and supply aspects. Such increase in logistics and other industries of China＇s economy, give more opportunity to the cooperation of logistics system in Northeast Asia. This paper will give more detailed analysis on the logistics market in China with the data coming from the recent survey of the research center of logistics in Nankai University and National Development and Reform Commission.     

Guide to Authors

Aims and scope With the tenet of concerning ecology and serving economy, aimed at constructing a harmonious society of man and nature, Ecological Economy focuses on the sustainable development of economy and environment, and puts attention on theories, methods and technical innovations concerning ecological/green economy, circular economy and ecological/green industry. The sustainable development of economy and society, and the sustainable development of the population, resource and environment are also within the concern of the journal. Besides, the journal also has eye on the regional economy, Western Development in China, and issues concerning agriculture,     

Toward Shared Prosperity:China's New Leap Forward in Social Protection

The foundation of the People’s Republic of China in1949 marked the realization of a dream strived for by millions of Chinese people over the preceding hundred years,i.e.,the dream of liberation.Since 1949,China has gone through two stages of historical development,in which it realized the dream of self-reliance and the dream of freedom from poverty,respectively.Having entered the third stage of its contemporary history,China is now striving to achieve a new dream of shared prosperity for all.Supported by statistical data,this paper argues that China has made a great leap forward in the field of social protection over the past 10-plus years.This new leap forward has quietly brought about enormous changes to the Chinese society.On one hand,it has stopped inequality from further deteriorating;on the other hand,it has created a benign environment for lessening human insecurity.