信贷管制、隐性契约与贷款利率变相市场化——现象与解释

本文将视角聚焦于利率市场化改革之前,重点研究金融抑制对银企信贷契约的异化。研究发现,在金融抑制背景下银企之间存在以留存贷款为表现的隐性契约,用以帮助银行在满足管制要求的同时追求利润最大化。本文对这一现象进行了理论分析与实证检验,发现隐性契约的发生与否会随着货币政策、企业特征等因素的改变而有所差异,这在一定程度上起到了利率变相市场化的作用。进一步研究则发现,这一隐性契约对企业价值产生了负向影响。     

ECONOMIC TRANSITION AND LABOUR MARKET DYNAMICS IN CHINA: AN INTERPRETATIVE SURVEY OF THE ‘TURNING POINT’ DEBATE

Has the Chinese economy approached the ‘Lewisian turning point’ that marks the ending of the initial phase of industrial transformation fuelled by surplus labour? In this paper we undertake an interpretative survey of the literature on this issue, in the context of China's labour market conditions prior to the reforms and structural change of the past three decades. The available evidence is mixed, and our assessment makes a strong case for probing institutional constraints to labour mobility from an economy‐wide perspective, going beyond the confines of the rural economy.     

全面发展适应创新--学习党的十六大报告

全面发展,适应新的形势,用理论和实践的创新来振兴民族,促进国家发展和党的事业进步.     

全面建设小康社会的经济金融政策研究

本文对全面建设小康社会的经济金融政策提出了十项看法与建议 ,有重要的参考意义。     

Motivations and barriers of foreign R&D activities in China

The continued growth of the Chinese economy accompanied with the expansion of international investment in China has led to an increase in foreign research and development (R&D) activities in the country. Aside from the rising importance of R&D internationalization, research on foreign R&D in China has been neglected in the past due to its emerging status. In this article we examine drivers and barriers for conducting R&D in China. The focus of our research is on transnational companies typically characterized by decentralized R&D activities. Our research is mainly based on qualitative interviews with senior R&D managers. The success of foreign R&D activities in China strongly depends on the realistic estimation of its advantages and the proper identification and handling of barriers.     

如何防范会计信息失真

根治会计信息失真是一项复杂的系统工程。本文对会计信息失真的成因进行了分析，最后阐述了防范会计信息失真的具体对策。     

生命周期评价方法及其应用

介绍了生命周期评价的目的、意义和基本方法，并运用该方法对燃煤发电、废纸造纸、废旧塑料气化发电等几种不同工业过程的环境影响进行了分析。     

The financing decisions of REITs: The case of warrant extensions

In this paper, we examine the warrant price and stock price reactions to the announcement of warrant life extensions by REITs. As predicted by option pricing theory, warrant prices increase in response to these extensions. The stocks of REITs making the extension announcements experience average abnormal returns that are not significantly different from zero. Thus, total firm value appears to increase, with the gains accruing primarily to the warrantholders.     

新世纪中俄油气战略合作:意义、困境及对策

维护和巩固中俄两国战略协作伙伴关系具有十分重要的意义，中俄战略协作关系的经济基础十分薄弱，经贸关系长期严重滞后于两国政治关系的发展，而油气战略合作是扭转这一局面的重要途径之一，同时也可以减轻我国巨大的油气缺口给油气安全带来的沉重压力，进一步增强我国 的油气安全系数，中俄油气战略合作面临许多困难，最主要的是资金问题，我国政府应该早下决心，尽快行动，坚决执行“走出去”的战略方针，加大对中俄油气战略合作的支持力度，俄方也应该努力为投资各方创造一个良好的投资环境，以实现优势互补，共同受益。     

施工企业对外承接项目的价值评估

本文通过工程实例说明,提供了作者进行施工企业评估过程中对其对外承接项目评估的思路和方法.提出了施工企业对其在外所承接项目的权益是一种债权,同时明确了合理确定项目给企业所能带来的应收工程款以及取得应收工程款可能发生的风险是此类项目评估的核心.