公司治理与财务困境关系研究综述

财务困境也称财务危机或财务困难,是公司治理中应注意避免发生的问题。从理论的角度分析公司治理与财务困境的关系,并从股权结构、董事会特征、经理层激励等方面回顾国内外学者对公司治理与财务困境关系的研究,发现公司治理结构对财务困境有着显著影响。     

煮糖自动控制系统的应用

文章阐述自动煮糖控制系统的配置方案、控制流程及系统应用的成效等。     

铁路建设对区域产业影响的研究——以向莆铁路建设对莆田产业的预期影响为例

铁路建设对沿线地区的社会经济发展将产生重大影响,铁路发展有助于优化综合交通运输体系,促进区域经济协调发展,有利于社会生产力布局和产业结构的调整等等。文章在对莆田区域经济发展优势和现状分析的基础上,阐述了向莆铁路建设对莆田区域经济发展的作用,并依据向莆铁路经济带主导产业群选择的主要路径,提出了向莆铁路沿线(莆田段)产业布局的战略构想。     

基于VBA的库存管理系统的设计与实现

该文以Excel软件为开发平台，采用VBA语言为开发工具，结合Excel软件强大的函数功能，完成了对企业库存管理系统的功能的设计和技术实现。     

Determining fair values of performance‐vested and forfeiture‐embedded employee stock options

This study provides a new approach to determine the fair value of ESOs by extending the performance‐vested option pricing model. The model developed in this study takes both vesting period and forfeiture rate into consideration to capture characteristics of ESOs. Empirical and sensitivity analyses give evidence for the importance of these two elements. Empirical results also support that the derived model can be employed to increase the accuracy of ESOs’ fair value.     

Dividends,research and development expenditures,and the value relevance of book value for UK loss-making firms

We extend prior research on the value relevance of accounting information for loss-making firms by allowing the coefficient of book value to vary across three distinct set of loss-making firm observations in our valuation model. Our key findings are, first, that book value is a less important determinant of equity value for either high R&D-intensive firms or dividend-paying firms, relative to firms with low R&D-intensity and zero dividends. Prior literature suggests that book value is a strong indicator of firm value for loss-making firms. This reasoning stems from book value's role as: (i) a proxy for the value of the possibility of abandoning or adapting the firms' net assets; and/or (ii) a proxy for expected future normal earnings. Our work suggests that this prior literature does not fully capture the valuation role of book value for loss-making firms. Second, we also find that dividends are value relevant, but generally only when the valuation role of book value is contextualised by allowing its coefficient to vary across high R&D-intensive firms, and dividend-paying, loss-making firms.     

浅议集团公司资金管理模式的构建

目前国内集团公司资金管理方式主要有集权式与分权式两种基本模式。这两种模式各有利弊，并受集团公司不同发展阶段及具体管理体制等因素的影响。通过完善资金管理的组织保障，完善资金预算管理机制和资金循环体系，建立合理的资金管理授权体系、信息传递机制以及资金监控体系构建“集权有度、分权有序”的集团资金管理模式能实现集权式与分权式的有效结合，实现集团公司对下属公司自主经营与风险管控的均衡。     

The interaction of retail density and music tempo: Effects on shopper responses

Research examining the effects of store environment on shoppers has found that a number of atmospheric cues have significant effects on shoppers' cognitive, affective, and behavioral responses. To date, retail atmospheric cues have been studied in isolation, instead of simultaneously, like they occur in the retail setting. This study examines the interactive effects of two atmospheric cues—retail density and music tempo—and their impact on shopper responses within a real shopping environment. Based on the schema incongruity model, it is found that shopper hedonic and utilitarian evaluations of the shopping experience are highest under conditions of slow music/high density and fast music/low density. Significant main effects of music tempo are found for behavioral responses such as approach/avoidance tendency and extent of browsing behavior. The results underscore the need to examine interactive effects of atmospheric cues to better understand the impact of the store environment on shoppers. © 2005 Wiley Periodicals, Inc.     

铁路超重货物运输的制约因素与相关建议

结合我国既有铁路桥梁及车辆装备现状,分析铁路超重货物运输的制约因素主要是既有桥梁设计标准偏低和早期特种车辆设计较少考虑过桥性能两个方面.针对铁路超重货物运输的发展,在提高货车装备水平的基础上,建议在提高桥梁承载能力、优化车辆设计、铁路特种车辆与大型设备相匹配和加强桥梁日常安全管理等方面综合改善超重货物运输条件.