COMPANY TAXATION*

To reduce the problems to be discussed to manageable proportions the taxation of mining and other special classes of companies (insurers, mutual funds, etc.) is excluded. Each of the latter constitutes a major topic, deserving of special treatment. Eschewed are also the more technical intricacies in which the administration is particularly interested.     

Keywords in 2009--REVIVAL PLANS,Ten Key Sectors Benefit？

As we reach the end of a miserable 2009,signs are mounting that the world economy is stirring back to life.China,as we can see,has been doing a .good job throughout the whole year compared with other financially bedraggled countries.The annual targeted economic growth of 8%is expected to be achieved without doubt.Behind the figure of 8%,more facts need to be highlighted.Series of revitalizing plans on key industries have contributed a lot to domestic economic recovery. China＇s export,due to slow recovering world economy,is still in the long time trough phase.Capital and market are always top concerns for Chinese entrepreneurs.While the world is seeking cooperation on climate change and new energy,China adamantly pledges to oppose and reject trade protectionism.As Confucius said,＂Consider the past,and you shall know the future＂,Special Report this issue picks the most frequently cited keywords of 2009,to reflect back and to look forward.     

A Review of: “THE THEORY OF FINANCE” by Eugene F. Fama and Merton H. Miller Holt Rinehart and Winston 1972 346pp. $12.50

This paper analyzes the effects of the loss carryback, and carryforward on the investment and financing decision of the firm. The optimal strategies to eliminate, most if not all, potential Corporate tax liabilities are demonstrated. It is also shown that the carryforward and carryback, provisions provide more incentive for existing firms than for new firms to invest. At the macro level, these tax provisions encourage greater risk taking by the more profitable firms.     

网店与实体店成本的比较分析

网店与实体店的交易实质虽然相同,但是在交易的形式上却有很大的不同。认真比较两者的成本要素,发现它们各有成本的优势与劣势。O2O电子商务业态的出现,完美地结合了网店与实体店各自的成本优势,使得网店和实体店实行同品同价成为可能,从而形成网店、实体店和顾客"三体共赢"局面。     

Waiting for her ship to come in? The female investor in nineteenth‐century sailing vessels

The contribution of women to the economy as investors has an increasing profile, but sources of information on women's economic activity in the nineteenth century are limited. However, shipping registers provide new avenues for exploring this largely hidden perspective. Women investors in shipping are revealed here to be more consistently active across the century with a close involvement with their investment. They were a significant factor in enabling smaller port communities to remain self-sufficient in their industry funding until the dominance of steam in the 1880s caused the sailing vessel to become increasingly obsolete.     

INTER-MARKET COMPETITION THROUGH BUNDLING IN THE PRESENCE OF COST ADVANTAGE

This paper presents a model of inter-market competition through bundling wherein each firm has a cost advantage in a different market and competes against fringe firms. Without cost saving through bundling, there is no equilibrium in which the bundled good is provided. However, with cost saving through bundling, there exist equilibria in which one firm provides bundling and the other does not. In this case, bundling can be used as a device for entry deterrence. Finally, we illustrate that bundling can reduce social welfare by discouraging the efficient entrant from entering the market.     

中国、印度和美国，谁更需要谁？

我从来没有去过印度，但在和国际友人的交流中，印度像一个冉冉升起之星不断被提及。Eliza教授去印度前，我们就约定写一点关于中国．印度和美国之间关系的文章。她刚从印度回来就写电子邮件告诉我她对印度复杂的感觉：可以触摸到的贫困差距和极差的公共设施，同时这个国家似乎又进入了国际主流社会，人们说着流利的英语和拥有迅速发展的软件业……