关于绩效审计研究的新思考

自20世纪60年代以来，不少学者对绩效审计展开研究，并取得了一些积极的成果，但总体研究状况并不乐观。本文分析了其中的原因，并就解决该问题提出了若干新的建议。     

Writing on the Wall: Street Art in Graffiti‐free Singapore

The legalization of graffiti in many cities has impacted urban landscapes and the way artists and the public view graffiti, street art and the city as well. This article considers the genesis, process and consequences of legal walls programmes firstly by introducing and differentiating the key terms ‘graffiti’, ‘street art’ and ‘legal walls’, then by examining an empirical case, that of Singapore. Renowned as a graffiti‐averse and litter‐free city, Singapore's recent about‐turn in legalizing illicit art forms illustrates changing government perspectives on creativity and legality in the country. Why the government has effected this change, how artists and members of the public have responded to it and the resultant art forms are critically explored. The conclusion reflects on four key lessons from Singapore for cities in general.     

Avoiding arbitrary exclusion restrictions using ratios of reduced-form estimates

We show how to obtain coherent structural-form (SF) exclusion restrictions using the reduced-form (RF) parameter ratios. It will be shown that an over-identified SF corresponds to a group of regressors sharing the same RF ratio value; those regressors should be excluded jointly from the SF. If there is no group structure, then the SF is just-identified; in this case, however, it is no longer clear which regressor should be excluded. Hence, just-identified SF’s are more arbitrary than over-identified SF’s in terms of exclusion restrictions. This is in stark contrast to the notion that the former is less arbitrary than the latter, because the former excludes fewer regressors. We formalize these points, and then suggest to find the number of modes in the estimated RF ratios as a way to find groups in the ratios. For this purpose, an informal graphical method using a kernel nonparametric method and a formal modality test are employed. An empirical example with selling price in a residential real estate market and duration on the market as two endogenous variables is provided. The authors are grateful to the editor and two anonymous referees for their comments     

Nonlinear influence on R&D project performance

This study applies artificial neural network (ANN) to explore the relationships between the performance of R&D projects and its determinants. The results indicate that the quality of project environment has an inverse U-shaped effect on the performance of R&D projects, and both project managers' skills and the effectiveness of teamwork have monotonic positive influences on it. Besides, this study utilizes self-organizing map (SOM) to classify the Taiwanese information and electronics companies into three groups and further provides some suggestions. In addition, this paper uses an in-depth interview of qualitative research to explore why the quality of project environment has an inverse U-shaped effect on the R&D project performance, and finds out the main reason. There are two managerial implications in this study. First, the relationships between the performance of R&D projects and its determinants are not always linear in the complex and uncertain environment nowadays. Second, companies must care about the inverse U-shaped effect of the quality of project environment on the performance of R&D projects, although they can enhance the extent of project managers' skills and the effectiveness of their teamwork as much as possible.     

城市区域交通状态判别方法研究

随着新一代智能化交通控制系统的出现,城市区域交通状态判别方法的研究显得尤为重要。本文在已知各个子区交通状态的基础上,用层次分析法确定出各个子区在区域中所占的权重,然后用加权平均法得出区域的交通状态。最后利用VISSIM软件模拟验证了本文算法的合理性。     

海洋工程项目中物资追踪管理研究

本文通过研究海洋工程项目的建造特点,阐述了如何使用批次管理方法对海洋工程物资进行管理。在海洋工程项目的建造过程中,通过对物资的批次进行追踪达到对物资的管理,能够简化物资追踪过程、提高物资追踪精度,达到提高质量、节约成本、缩短周期的目的。     

师承古今的复仇——论东北沦陷区复仇主题文学对中国复仇思想的继承

本文通过对日伪统治时期东北沦陷区文学的考察,对东北作家文学创作中的复仇问题进行整理后,将东北沦陷区文学中与复仇相关的作品作为主要研究对象,对其文学的主要内涵从继承古代复仇文学与五.四新文学创作的角度进行阐释。     

Applying jump-diffusion processes to liquidate and convert venture capital

This study attempts to apply real options and expand the model designed by Lin and Huang [Lin, T.T., Huang, Y.T.: J. Technol. Manage. 8(3), 59–78 (2003)], which helps venture capital (VC) companies to optimize project exit decisions. The expected discounted factor and a jump-diffusion process combine to assess the value of a start-up company, and determine the threshold of the exit timing of liquidation or convertibility for establishing the optimal disinvestment evaluation model for VC companies. When the project value is below V_L^*V_L^\ast, the VC company carries out liquidation, but when the project value exceeds V_C^*V_C^\ast, the VC company performs convertibility. The project value is ranging between (V_L ^*,V_C^*)\left({V_L ^\ast,V_C^\ast}\right), and the best choice is holding the decision and waiting to carry out the rights of liquidation and convertibility next time. Besides, this work attempts to identify the expected discounted time in terms of the investment time for VC companies.     

美国《复苏与再投资法案》关于铁路投资监管的规定对我国的启示

研究了美国《复苏与再投资法案》关于铁路投资监管的规定中,在铁路投资监管的主体、监管的形式和内容等方面值得借鉴之处,分析总结出中国经济刺激政策实施过程中对铁路投资监管的相应不足之处,结合我国的有关法律和实际情况,提出完善我国铁路投资监管的法律建议,即:在主体方面,应该进一步明确新增中央投资协调小组的职能、权力和运行机制,增加全国人大及其常委会作为铁路投资日常监管的主体,完善媒体和公众监督;在形式和内容方面,在事前监管和事中监管方面予以完善,并且增加新增中央投资协调小组的建议权。     

多元化战略、经济绩效与资本结构——关于上市公司股权融资偏好解释

我国上市公司存在十分强烈的股权融资偏好,学术界一般将其原因归结为股权融资成本偏低。笔者研究则表明,融资成本因素并不能全部解释上市公司股权融资偏好。本文从企业多元化经营战略角度来剖析股权融资偏好。研究发现:企业多元化程度越低负债率越低,企业经济绩效越好;企业有动力降低负债率,采用股权融资。研究还发现,企业多元化战略已经构成融资决策的有效约束,股权融资偏好是上市公司的理性选择。