不同财务管理目标下业绩评价选择及其关系处理

从财务管理目标出发考察企业业绩评价方法的演变过程，是为了在它们之间建立一种联系。不同的财务管理目标下，企业的业绩评价选择会有很大的差异，而其总体趋势是选择综合业绩评价方法。在不同的财务管理目标下选择不同的业绩评价指标时，又要处理好三对关系：短期发展与长期发展、局部利益与全局利益、财务指标与非财务指标。     

英国生产服务业发展现状分析

本文利用1968-2002年间的英国投入产出表,将英国服务业中用于中间需求的部分界定为生产服务业,并由此分析了英国生产服务业的发展趋势及现状。分析发现,英国生产服务业增加值占服务业和GDP比重不断上升,与人均GDP之间存在显著的正相关关系。生产服务业中为农业、工业服务的部门比重不断下降,而为服务业服务的部门比重不断上升。文章最后分析了英国生产服务业发展变化趋势对我国的几点启示。     

The dynamics of positive action in UK trade unions: the case of women and black members

This paper considers positive action strategies amongst UK trade unions, aimed at increasing membership and levels of participation and representation among women and black workers. It provides an overview of women’s, black members’ and race structures within large Trades Union Congress unions and a detailed case study of one large UK trade union. We find that there are salient differences in the way that unions approach issues of gender equality, compared with the approach adopted towards race equality. The paper explores possible explanations, justifications and implications of these differences.     

休闲经济与自由本质

随着人们自己支配的时间和收入的增加,休闲将成为生活中的一个重要组成部分.而休闲经济作为日益火爆的经济现象也越来越受到人们的关注.分析和研究与此有关的种种问题,特别是与人的本质及生存条件的种种联系是本文的主旨.     

分层次教学是实施英语素质教育的重要途径

本文从素质教育角度探讨英语教学中提高学生水平的一种有效方法--分层次教学方法.     

抽油机V带执行标准现状及有关问题探讨

阐述了国内外V带现行标准状况，指出通用V带标准应用于抽油机V带存在的问题。针对抽油机用V带寿命不足5000h的问题，提出制定符合中国油田实际的《抽油机用V带》新标准，并从五个方面提出了编写新标准的建议。     

我国港口投融资政策的思考

一、我国港口投融资现状与问题目前我国有近1500个港口,对外开放的港口达130个,每年接纳世界100多个国家和地区的36000多艘船舶,基本上形成了大中小配套、通用性和专业化兼备的港口体系。这些港口的建设资金,从投资来源上讲,主要是国家、省、市财政投资和企业自有资金的投入。它有力地保证了港口设施建设,促进了港口的发展,为经济发展起到了重要的作用。但随着改革的不断深入,单纯依靠国家财力和企业自有资金来从事港口建设,已越来越不能满足经济发展的需要。近年来,尽管国家对港口建设的投资力度在不断加大———1995年投资68亿元,2000年81…     

General‐to‐Specific Model Selection Procedures for Structural Vector Autoregressions*

Structural vector autoregressive (SVAR) models have emerged as a dominant research strategy in empirical macroeconomics, but suffer from the large number of parameters employed and the resulting estimation uncertainty associated with their impulse responses. In this paper, we propose general‐to‐specific (Gets) model selection procedures to overcome these limitations. It is shown that single‐equation procedures are generally efficient for the reduction of recursive SVAR models. The small‐sample properties of the proposed reduction procedure (as implemented using PcGets) are evaluated in a realistic Monte Carlo experiment. The impulse responses generated by the selected SVAR are found to be more precise and accurate than those of the unrestricted VAR. The proposed reduction strategy is then applied to the US monetary system considered by Christiano, Eichenbaum and Evans (Review of Economics and Statistics, Vol. 78, pp. 16–34, 1996) . The results are consistent with the Monte Carlo and question the validity of the impulse responses generated by the full system.     

ALL THINGS CONSIDERED,TAXES DRIVE THE JANUARY EFFECT

The multitude of explanations for the January effect leaves the reader confused about its primary cause(s): is it tax‐loss selling, window dressing, information, bid‐ask bounce, or a combination of these causes? The confusion arises, in part, because evidence has generally been presented in support of a particular hypothesis though the same evidence may be consistent with another hypothesis. Furthermore, prior work does not adequately control for the bid‐ask bounce. In this article we try to disentangle different explanations of the January effect and identify its primary cause. We find that tax‐related selling is the most important cause, overshadowing other explanations.     

Syndicated Loan Announcements and Borrower Value

Announcements of syndication loans increase borrowers' shareholder wealth if they are revolving credit agreements but not if they are term loans. Share price responses to revolving credit announcements are positive and significant, whereas the wealth effect for term loans is negative and significant. The results show that announcements from both the financial press and commercial information providers can affect borrower share price reaction. Overall, single syndication announcements appear to be more newsworthy than multiple announcements reported in the financial press, and we find evidence of information leakage, post‐announcement drift, or both.