审计收费影响因素之长期特征研究

通过对2001～2008年的审计收费进行分析,比较了不同年度审计收费的变化以及不同行业审计收费的差异,并采用多元回归方法检验了审计收费的决定因素。结果显示,公司资产规模、子公司数量、地区经济收入水平及四大变量都显著影响了审计收费;另外,资产负债率、审计意见和审计任期也与审计收费显著相关。从行业分类回归来看,不同行业间审计收费的决定因素存在一定的差异。     

How Might Companies Value ESOs?

There has been a steady growth in the use of employee equity compensation plans, and in the use of executive stock options (ESOs) in particular, along with a rise in shareholder and public perceptions that the values of compensation plans are not always fully disclosed. The IFSA of Australia recently called for separate reporting in financial statements of numbers and values of ESOs. Companies, when negotiating employment contracts, frequently agree to compensate an executive if a share option plan is subsequently not approved by shareholders. These facts suggest that reporting the value of an ESO plan is a useful and important exercise. We outline a model for the valuation of ESOs typically issued by Australian listed companies and illustrate the application of the model with a case study.     

Public pricing of final and intermediate goods in the presence of externalities

The purpose of this paper is to investigate the impact of externalities on pricing decisions by a public or a private regulated firm selling both final and intermediate goods. The externalities generate feedbacks in demand that affect both consumers and producers. The model is very general in that it does not impose constant returns to scale on private production, allows for distributional effects of both the publicly determined prices and private sector profits, and captures the general equilibrium effects of public pricing. Socially optimal pricing rules are derived, and the relation of the results with previous models of pricing in the presence of externalities is investigated.     

Evidence on the impact of minimum wage laws in an informal sector: Domestic workers in South Africa

What happens when a previously uncovered labor market is regulated? We exploit the introduction of a minimum wage in South Africa and variation in the intensity of this law to identify increases in wages for domestic workers and no statistically significant effects on employment on the intensive or extensive margins. These large, partial responses to the law are somewhat surprising, given the lack of monitoring and enforcement in this informal sector. We interpret these changes as evidence that strong external sanctions are not necessary for new labor legislation to have a significant impact on informal sectors of developing countries, at least in the short-run.     

Improving the estimation of total factor productivity growth: capital operating time in a latent variable approach

Measuring labor and capital services accurately is essential to obtaining reliable estimates of production functions and total factor productivity (TFP) growth. Using data on the operating time of capital, a series that exists for the French business sector, greatly improves the measurement of effective capital services in production. The ensuing estimation results are consistent with Cobb–Douglas technology under constant returns to scale, with the factor elasticities not statistically different from their income shares. In the same framework, TFP growth is estimated as a latent variable and found to be less volatile than accounting residuals, negatively correlated with employment, and free of cyclicality. It is statistically best estimated as a first-order autoregressive process, with an autoregressive coefficient of 0.95. Total factor productivity growth was estimated to have declined steadily between the mid-1970s and mid-1990s, but the rate of decline has diminished since then.     

Price rigidity and market-clearing: a conceptual clarification

This article tests the view (derived from Hicks and Patinkin)that non-market clearance may be caused by slow adjustment (‘processrigidity’). There are models where market-rationing ispresent and derives from some form of rigidity, but this rigiditycannot be considered as process rigidity. It is similarly possibleto accommodate the idea of process rigidity within the Marshallianresearch programme. What is missing is that market-rationingmight be its corollary. The reason such a causal link is oftenbelieved to exist lies in a generic use of the concept of rigidity,used to designate alternative and incompatible phenomena: ‘exogenousend-state rigidity’ and ‘equilibrium end-state rigidity’,as well as process rigidity. It is true that these first twoforms of rigidity create market rationing. The belief that slowadjustment also generates market rationing results from theunwarranted extension to process rigidity of conclusions whichare only valid for the first two.     

Integrating Environmental,Social and Governance (ESG) Disclosure for a Sustainable Development: An Australian Study

Addressing environmental, social and governance (ESG) issues has become a critical part of business strategy. This article explores the extent of ESG reporting of metal and mining sector companies listed in the Australian Securities Exchange to determine the nature of ESG indicators in use in the sector. The current study argues that stakeholder engagement is the key to enhance company environmental policy and sustainable development. According to the results of this study, ESG reporting motives are highly influenced by reporting regulations. Given the diversity in reporting of ESG, comparability of ESG strategic performance is problematic. This study contributes towards developing an ESG disclosure index, which companies could use as a legitimacy tool that external stakeholders could use to reliably measure and compare the ESG performance of companies. It also reveals there is an increased demand for more empirical research on integration of sustainability into strategic planning process. Copyright © 2016 John Wiley & Sons, Ltd and ERP Environment     

第三方仓储物流企业盈利模式探讨

文中主要论述了第三方仓储物流企业三大类共四种不同类型的盈利模式,包括空间仓储服务模式、增值服务模式和基于供需管理平台的服务模式,其中基于供需管理平台的服务模式可分为作为初级阶段管理增值模式和高级阶段的供需网控模式。文中最后还提出了模式转换的建议措施。认为,前两种模式是过去和当前第三方仓储物流企业的主要盈利模式,后两种模式则代表着企业未来的发展方向。     

POLICY MAKING FOR INDUSTRIAL COMPETITIVENESS IN PORTUGAL - Patterns of change in a traditional bureaucracy

In Portugal the EEC membership represented a major change in Portuguese Administration functioning. This article uses the new institutionalism approach and the concept of path-dependence to analyse the change in the functioning of a central directorate reponsible for industrial policy. It argues that despite the external pressures for change has altered the directorate operations, there are patterns of continuity which are path-dependent. The response to change shows institutional reproduction in traditional features which is partly due to the reluctance to change traditional methods and partly because of the routines, procedures and norms embedded in the culture.